What this is
The most Funko could have paid in Pokémon royalties: about $8–9 million a year in 2023–2025 (¥1.2bn in 2025).
How it’s built
- Funko’s royalty expense times 5%, since no property exceeds 5% of its sales: $179.7m × 5% = $9.0m (2023); $8.45m (2024); $7.93m (2025).
What we assumed
- Pokémon pays Funko’s average royalty rate.No Pokémon rate is disclosed; at a 25% rate the 2025 ceiling would be $11.4m.
- Pokémon’s share of sales is at most 5%.Funko’s filing says no single property exceeds 5%.
Sanity check
About 1% of the estimated Western licensing income. It is above zero, since Funko names Pokémon as a licensed property.
Where it comes from
Our calculation from other figures in the trainer’s notes:
- FiledAn upper limit on Pokémon’s share of Funko’s sales5%
- FiledLicensee single property max share, FY2023-FY2025
Show the working
- 2025 ¥ billion at 149.57: 1.19
- Sensitivity if Pokémon rate 25pct $ million 2025: 11.4
- Floor: > 0 (Pokemon named as Funko licensor FY2020, FY2021; evergreen FY2025)
- Pokemon <=5% of Funko sales x Funko royalty expense, assuming Pokemon's rate = Funko average: 179.7x0.05=8.99
- 168.9x0.05=8.45
- 158.5x0.05=7.93 USDm
- 7.93x149.57/1000 = 1.19 JPYbn
- Rate sensitivity 25% …
Where it’s used
Related figures
Built from this one
- EstimateHow much Nintendo pays The Pokémon Company, year to February 2026, and its weight in group revenue
- EstimateFor each named Western Pokémon licensee, who is paid, what art and term apply, and the most it can contribute to Western licensing income in 2025
- EstimateHow much of the estimated Western licensing income must come from smaller licensees under tougher assumptions