What this is
How much of its profit The Pokémon Company paid out over the nine years to February 2026, compared with listed peers: about 1.64% of group profit (2.99% of the parent's), against declared payout ratios of 30% or more at Sanrio, Bandai Namco, Toei Animation and Konami, and 60% at Nintendo.
How it’s built
- TPC's group profit is estimated from Nintendo's equity-method income over the years to March 2018–2026 (¥233.1bn), divided by Nintendo's 32% stake: about ¥728bn.
- Distributions over the same period were ¥12.0bn, two dividends, from TPC's notices in Japan's official gazette.
- Peers' payout ratios are as declared in their own results for the years to March 2021–2026. Hasbro has paid out more than it earned in recent years.
What we assumed
- Nintendo's equity-method income divided by 32% approximates TPC's group profit.Nintendo's line covers three affiliates, mostly TPC, so TPC's profit is slightly overstated and its payout rate slightly understated.
- Peers' total returns mix dividends and buybacks.Sanrio and Toei's buybacks are added to dividends in the same year, which is approximate.
- A listed peer's payout is a benchmark, not a guide to what TPC's owners want.Peers answer to many public shareholders; TPC has three operating owners who may prefer to keep cash in the business.
Sanity check
At 30% of group profit TPC would have paid out about ¥218bn, against ¥12bn actual: about one-eighteenth of the lowest peer rate.
Where it comes from
Our calculation from other figures in the trainer’s notes:
Show the working
- TPC parent residual year to February 2018 26: 2.99%
- TPC group basis year to February 2018 26: 1.64%
- Group net profit proxy year to February 2018 26: 728,322
- Lowest peer declared: 30%
- Like-for-like means a declared distribution over consolidated owners' profit
- TPC group NI FY2/18-26 ≈ Σ Nintendo pickups FY3/18-26 233,063 / 0.32 = 728,322
- Distributions 11,960 / 728,322 = 1.64%, against the parent-only residual of 2.99%
- Peers declare 30-50%..
Where it’s used
Related figures
Built from this one