The values
- Forbes EV $ m: 2,350
- Debt to value: 0.11
- Equity $ m: 2,092
- 10pct ¥ m: 31,283
- Book assumed ¥ m: 1,500 to 2,000
- Unrecognised ¥ m: 29,283 to 29,783
Where it comes from
Our calculation from other figures in the trainer’s notes:
- EstimateFranchise value forbes, Forbes 2026 list$2.35bn
- EstimateForbes team page definitions, Forbes team page, March 2026
- EstimateMariners gain against 661m and implied sold carrying, Aug 2016 (Nintendo Q2 year to March 2017)
Show the working
- 0.10 × 2,350 × (1 − 0.11) × 149.57 = 31,283
- Book ≈¥1.5–2.0bn = retained 10% at ≈¥1.3–1.4bn in Aug 2016 plus 10% of later results (assumed)
- Unrecognised 31,283 − 2,000..1,500 = 29,283–29,783
- Before
Where it’s used
More figures on First Avenue Entertainment (Seattle Mariners) →