A bound on the dividend Nintendo received from The Pokémon Company in its year to March 2018

What this is

A bound on the dividend Nintendo received from The Pokémon Company in its year to March 2018: at most about ¥1.36bn.

How it’s built

1. The gazette shows a ¥2.99bn distribution that year. Nintendo’s 32% would be about ¥0.96bn, but that is computed, not reported.
2. Nintendo’s own carrying values for all affiliates show only ¥1.36bn flowing out, which caps what it could have received.

What we assumed

• Nintendo’s affiliate carrying-value roll covers the dividend.Dividends reduce the carrying value; the figure covers all affiliates, so it is an upper bound.

Sanity check

An earlier claim that two independent sources agreed on ¥955m was circular: that number was 32% of the gazette figure by construction.

Where it comes from

Our calculation from other figures in the trainer’s notes:

• EstimateDistribution cross check with Nintendo dividend, year to February 2018, TPC year to February 2018 (paid on year to February 2017 results)
• ReportedImplied dividend year to February 2018, year to February 2018¥3bn
• EstimatePayout trigger analysis year to February 2018 year to February 2024, year to February 2017-year to February 2026
• FiledInvestment securities of unconsolidated subsidiaries and affiliates, year to March 2017 year-end¥25.3bn
• ReportedCarrying series against pickups annual residual, year to March 2018–year to March 2026
• FiledInvestment securities of unconsolidated subsidiaries and affiliates, year to March 2018 year-end¥34.2bn

Where it’s used

• ProfileThe Pokémon Company
• ProfileNintendo