What this is
How the most any Western licensee could pay compares with Nintendo’s estimated payments to The Pokémon Company (¥16.3–51.1bn): none can be shown to out-pay Nintendo’s mid-range.
How it’s built
- Disguise costumes at most ¥3.58bn: 22% of Nintendo’s low estimate.
- Jazwares at most ¥21.47bn, if it took the whole toy ceiling: 12.6 times Funko’s ceiling and 1.32 times Nintendo’s low estimate.
- All named Western payers at most ¥26.75bn: 52% of Nintendo’s high estimate.
What we assumed
- Nintendo pays The Pokémon Company ¥16.3–51.1bn a year.This is the research’s own estimate; Nintendo discloses no such payment.
- Each licensee’s ceiling is as calculated elsewhere.Each uses generous sales and top royalty rates, so the comparison flatters licensees.
Sanity check
On a different basis, the company’s own receipts, Nintendo’s low end is ¥21.0bn, roughly equal to the Jazwares ceiling.
Where it comes from
Our calculation from other figures in the trainer’s notes.
Show the working
- Nintendo year to March 2026 payments to TPC: ¥16.3–51.1bn
- Funko ceiling: ¥1.71bn
- 3.58/16.3 = 22%
- 21.47/1.71 = 12.6
- 21.47/16.3 = 1.32
- 26.75/51.1 = 52%