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Consolidation moved inside target only CN127 restated, full year, year to February 2026 FX basis

Full year, year to February 2026 FX basis

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

This figure has been replaced. See Q38 Excell analogue restated with Asmodee UK registry GM and per head, year to March 2026 (year to February 2026 FX basis for JPY).

What this is

Moved inside = 500 x C_m x g_e: 500 x 0.50 x 0.10 = 25 -> x 149.57 = ¥3.74bn (CN-127 floor); 500 x 0.65 x 0.25 = 81.25 -> ¥12.15bn.

The values

  • G e 0.10-0.25: $25–81.3m
  • : ¥3.74–12.2bn
  • Central C0.575 g0.15: ¥6.45bn
  • Asmodee analogue g0.31 (0.262-0.361): $77.5–101m
  • Analogue: ¥11.6–15.1bn
  • Analogue CI: ¥9.8–17.5bn

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. Moved inside = 500 x C_m x g_e: 500 x 0.50 x 0.10 = 25 -> x 149.57 = ¥3.74bn (CN-127 floor)
  2. 500 x 0.65 x 0.25 = 81.25 -> ¥12.15bn
  3. Analogue: 500 x 0.50 x 0.31 = 77.5
  4. 500 x 0.65 x 0.31 = 100.75 (¥11.6-15.1bn)
  5. CI 0.262-0.361 -> 65.5-117.3 (¥9.8-17.5bn)
  6. Op profit: 0.05 x 250 = 12.5
  7. 0.05 x 325 = 16

Where it’s used

More figures on Excell Brands →