What this is
ASSUMPTION: TPCi's licensees pay Sanrio's effective royalty per retail dollar. TPCi's 'tight' programme and Funko's 16-17% rates argue for higher.
The values
- Sanrio comp yield %: 5.51 to 5.56
- (own-goods-adjusted ceiling %): 5.9
- Card game-IN merchandise share of LG: 0.742 to 0.806
- Card game-IN licensing: ¥96–105bn
- Spread between scopes: ¥24–35bn
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:
- ReportedTPCi licensing programme style, n.d.
- FiledFunko’s average royalty rate across all its licences17.4 / 16.1 / 16.4
Show the working
- TCG-OUT 15.7 x 0.0551..0.0556 = $0.865-0.873bn x 149.57 = ¥129.4-130.6bn
- TCG-IN: merch = 15.7 − 5.22 x 0.449 x m − games: m=1.0, games 0.7 = 12.66
- m=1.3, games 1.0 = 11.65 → x 0.0551-0.0556 x 149.57 = ¥96.0-105.3bn
- merch
Where it’s used
Related figures
Built from this one