What this is
How JAKKS Pacific’s minimum royalty guarantees, across all licensors, jumped in 2025: to $189.8m from $74.6m, with about $169m of new commitments running to 2029.
How it’s built
- Read the guarantee tables in JAKKS’s annual reports for 2021–2025: totals $71.9m, $74.7m, $53.1m, $74.6m, $189.8m.
- New in 2025: the end-2025 schedule less what was already owed for 2026–2027 a year earlier = $168.9m.
What we assumed
- Costume licences can carry at most $23.9m a year.That is the costume royalty ceiling at 2025 volume; it covers only 42–65% of each future year’s guarantee.
- The Disguise Pokémon extension of February 2025 is one candidate.It is multi-year and fits the timing, but the schedule does not name licensors.
Sanity check
An all-licensor schedule: it dates and shapes new commitments but is not Pokémon’s guarantee. A Pokémon guarantee above about $24m a year would be in shortfall at current costume sales.
Where it comes from
Our calculation from other figures in the trainer’s notes.
Show the working
- 2025 against 2024 total times: 2.54
- 2026 front year against guided a year earlier times: 3.06
- New commitments added in 2025: $169m
- Front year MG over 2025 royalty: 62.1%
- 2025 schedule: ¥28.4bn
- 2026 tranche: ¥8.58bn
- Totals 71.9/74.7/53.1/74.6/189.8
- 189.78/74.609 = 2.54x
- 57.374/18.757 = 3.06x
- new = 189.78 - (18.757 + 2.170) = 168.9
- per year 57.374-18.757 = 38.6, 49.070-2.170 = 46.9, 46.5, 36.9
- 57.374/92.4 = 62.1%
- 23.9/57.4 = 41.7%, /49.1