What this is
Bounds on what Jazwares, the Pokémon master toy licensee, pays in Pokémon royalties: above zero and at most about ¥21.5bn a year.
How it’s built
- Ceiling: the research’s limit for all Western Pokémon toy licensees together, ¥21.47bn.
- A looser all-brand limit: Jazwares’ 2023 revenue of $1.3bn × a 25% top royalty rate = $325m (¥48.6bn).
- Pokémon wholesale sales could be at most $0.83bn, 63% of Jazwares’ 2023 revenue.
What we assumed
- Western non-card Pokémon toy retail is at most $1.65bn, with wholesale half of that.From the research’s Circana-based toy estimate; the halving is a standard ratio.
- 25% is a top royalty rate.It is the highest contract rate JAKKS discloses; no Jazwares rate is public.
Sanity check
Jazwares’ own $1.5bn entry in License Global’s ranking is for its own brands, not Pokémon. No Pokémon money appears in any Berkshire filing.
Where it comes from
Our calculation from other figures in the trainer’s notes:
Show the working
- Pokémon royalty ceiling: ¥21.5bn
- Floor: > 0 (master toy licensee, named in Berkshire FY2023-25 10-Ks)
- Entity bound all licensors: $325m
- Entity bound: ¥48.6bn
- Jazwares revenue 2023 $ billion all brands: 1.3
- Pokémon wholesale max: $0.83bn
- Ceiling = high corner (all toy licensees) = JPY 21.47bn
- Entity bound = 1.3 USDbn x 25% (JAKKS top contract rate) = 325 USDm = JPY 48.6bn …
- 24% of 204.3), all licensors, 2023
- Pokémon wholesale <= 1.65 x 0.5 = 0.8
Related figures
Built from this one