What this is
Circular on Q02's royalty-rate assumption (12–17.4% × 0.5 wholesale); FX unsourced. Supersedes 's 'not computable' for TPC; comps remain not computable (no licensing-income line or no LG row).
The values
- West card game IN cents: 3.8 to 6
- West card game OUT cents: 6 to 8.7
- All licensing over all LG retail cents: 4.4 to 10.9
- Hasbro LG retail over revenue: 2.8
Where it comes from
Our calculation from other figures in the trainer’s notes:
- FiledTotal net revenues / operating profit, FY2020-FY2025 (Dec)
- EstimateRevenue usd, year to February 2026 (Mar 2025–Feb 2026)$3.54bn
- ReportedLicensing yield per retail dollar computability, as of 28 October 2026
Show the working
- Western licensing ¥89–140bn (TCG-IN) or ¥141–205bn (TCG-OUT) and total licensing ¥104–255bn, over License Global's $15.7bn retail at the ledger's ¥150/$ → 3.8–6.0¢, 6.0–8.7¢, 4.4–10.9¢
- Hasbro's LG figure $14.1bn is 2.8× its revenue, so LG retail includes own-published goods (favours TCG-IN)
Where it’s used
Related figures
Built from this one