What this is
If goods kept the 2022 after-overhead margin (17.5%, at a 100% IP margin) and overhead were fixed, the 2022-24 OP fall requires IP content to fall from ₩25.9bn to ≈₩0.9bn; but bread alone sold ₩110.8bn at retail in 2023, ≈₩11bn of royalty at the press 10%.
Normalised from KRW millions so it can sit beside KRW billion rows. Pokémon Korea’s filings use both.
The values
- Revenue fall 2022 24: 43,387
- Op fall 2022 24: 28,239
- Implied IP content 2024 if mix only KRWm: 900
- Bread royalty 2023 at 10pct KRWm: 11,080
- Cost base change 2022 25 KRWm: 7,172
Where it comes from
Our calculation from other figures in the trainer’s notes:
- EstimateGoods margin bound 2022 and q10 card supply observation, 2022
- ReportedPokemon bread annual retail sales, Korea (SPC Samlip), 2023111 KRW billions
- ReportedPokémon Korea's operating margin each year
- FiledKorean flagship store 2023, 2023
- ReportedEvent mega festa 2026, May-Jun 2026
- ReportedEvent organiser safety, 1 May 2026
Show the working
- x+y=43,387
- x+0.175y=28,239 → y=18,361, x=25,026 → IP 2024 ≈ 25,900 − 25,026 ≈ 900
- bread 2023 110.8bn × 10% = 11.1bn