The values
- Band low: 24.9
- Band mid: 32.1
- Band high: 42.5
- TPC group proxy: 28.6
- TPC percentile in band: 21
- Implied card margin others at mid: 30
Some detail is too fine to show here; it is kept in the trainer’s notes.
Where it comes from
Our calculation from other figures in the trainer’s notes:
- EstimateStructural margin band from line mix, TPC year to February 2026 line mix x comps' year to March 2026 / 2025 line margins
- EstimateHq business line margins and licensing after hq costs, year to March 2024-year to March 2025 (Sanrio HQ business lines, pre-elimination)
- FiledSegment profit sum against consolidated operating income (unallocated corporate), year to March 2026 (year to March 2025: 37,133 vs 32,432 = 4,701)
- FiledGroup 事業利益 exact and segment 調整額 (unallocated corporate), year to March 2026
- EstimateGroup operating margin proxy, TPC year to February 2026 (Mar 2025-Feb 2026) = Nintendo year to March 2026 affiliate note28.6%
Show the working
- red-team rerun of with each comp's unallocated corporate cost spread pro rata …
- Konami DE 1.4pt
- Sanrio HQ allocation per
- Hasbro corporate 1.1pt) → 24.9 / 32.1 / 42.5%
- TPC 28.6% at ≈21st percentile
- cards implied ≈30% with other lines at mid
Where it’s used
Related figures
Built from this one
- EstimateWhether The Pokémon Company's profit margin is high or low for its mix of businesses
- EstimateHeadline ratios for The Pokémon Company group, year to February 202630%
- EstimatePure licensor counterfactual card publisher profit corrected, TPC year to February 2026 card line (point ¥375bn)112,500 to 157,500 ¥ million