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Pickup residual at TPC level with club, year to March 2026, year to March 2026

Year to March 2026

EstimateOur model or estimate. Treat it as an order of magnitude.

The values

  • Printed residual: 1,148
  • Identity: pickup − 0.32×aggregate NI = R_TPC − 0.22·NI_FA − 0.05·NI_PUX

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.

Show the working
  1. 1,148 + 0.22×(−150) = 1,115
  2. +0.22×2,094 = 1,609
  3. +0.22×(−7,500) = −502
  4. The club moves the profit residual by <¥0.5bn on the Forbes proxy, so profit cannot decide membership (C-Q21-3)

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