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Record

Licensing fill above residual model, TPC year to February 2026 (LG 2025)

TPC year to February 2026 (LG 2025)

EstimateOur model or estimate. Treat it as an order of magnitude.

What this is

Splits the residual model's point into its stated parts and compares the licensing component with each scope/rate case in. The License Global $15.7bn is licensed retail sales, not TPCi revenue.

The value

  • Licensing inside residual model point: ¥105bn

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:

Show the working
  1. Model point 354.6 = cards 350.575 x 0.50 x 1.15 = 201.6 + online 40 + events 8 + L → L = 105.0
  2. Increments: 98.5−105.0 = −6.5
  3. 111.1−105.0 = 6.1
  4. 129.4−105.0 = 24.4
  5. 130.6−105.0 = 25.6
  6. 144.0−105.0 = 39.0
  7. 173.8−105.0 = 68.8
  8. 189.0−105.0 = 84.0
  9. 204.3−105.0 = 99.3

Where it’s used

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