What this is
Sanrio's retail figure in License Global's ranking against what Sanrio files: the retail figure is about 18 times Sanrio's royalty income in each of 2023–2025, so royalties are a steady 5.5–5.6% of it; it is also 7–9 times Sanrio's total sales.
How it’s built
- License Global's figures ($5.1bn, $8.4bn and $11.7bn for 2023–2025) converted at each year's average exchange rate.
- Compared with Sanrio's royalty income and consolidated sales from its annual results for the years to March 2024–2026.
What we assumed
- Calendar-year average exchange rates.The ranking is in dollars; the year's average rate is the fairest single conversion.
- The years line up.Sanrio's overseas subsidiaries report on a January–December year inside its year to March, so the year to March 2025 roughly matches calendar 2024.
Sanity check
A ratio this flat, within 0.05 points over three years, suggests Sanrio builds its submission from its royalties rather than from licensees' actual sales.
Where it comes from
Our calculation from other figures in the trainer’s notes:
Show the working
- LG $5.1/8.4/11.7bn x ¥140.50/151.46/149.57 = ¥716.6/1,272.2/1,750.0bn
- Royalty 39,813/70,738/96,424 ÷ that = 5.556/5.560/5.510%
- LG ÷ sales 99,981/144,904/194,088 = 7.17/8.78/9.02x
- Own goods ¥74.1bn (FY3/25), ¥97.6bn …
Where it’s used
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