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Record

Card line restatements at central s 0.47, TPC year to February 2026

TPC year to February 2026

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

What this is

Python, CL = 100.712 + 350.575 x s x m. Blended retail/publisher 513.0/265.5 = 1.93 to 618.1/314.9 = 1.96.

The values

  • Western yield ¥ per card m 1.0 1.3: 31.6 to 41
  • Channel margin at list ¥ billion m 1.0 1.3: 248 to 303
  • Channel margin times card line: 0.93 to 0.96
  • Card line ¥ billion m 1.0 1.3: 266 to 315
  • Blended retail over publisher: 1.93 to 1.96
  • Licensed out publisher profit: ¥79.6–132bn

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. restatements of s = 0.50 derived values at Q27's central blended s ≈0.47, on CL = 100.712 + 350.575 x s x m

Where it’s used

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