How much of the Tokyo parent's revenue growth, years to February 2022–2026, came from a weaker yen

What this is

How much of the Tokyo parent's revenue growth, years to February 2022–2026, came from a weaker yen: revenue grew 2.6 times in yen, or about 2.3 times at the earlier year's exchange rates if 40% of revenue is in foreign currency.

How it’s built

1. Revenue rose from ¥204.2bn to ¥531.4bn, 2.602 times, while the dollar moved from ¥111.52 to ¥149.94.
2. Foreign-currency revenue is therefore worth 25.6% less at the old rate. The foreign share is not published, so shares from 0% to 60% were tried: at 40%, the currency effect is ¥54.5bn and growth is 2.34 times.

What we assumed

• About 40–50% of revenue is in foreign currency.The company does not say; each 10 points of share moves the result by about ¥13.6bn, and the dollar stands in for all currencies.

Sanity check

Even at a 60% foreign share, growth is still 2.2 times: the weak yen explains a quarter of the rise at most.

Where it comes from

Our calculation from other figures in the trainer’s notes:

• ReportedRevenue, year to February 2022 (24th)¥204.2bn
• ReportedRevenue, year to February 2023 (25th)¥234.5bn
• ReportedRevenue, year to February 2024 (26th)¥297.5bn
• ReportedRevenue, year to February 2025 (27th)¥410.9bn
• ReportedRevenue, year to February 2026 (28th)¥531.4bn
• FiledFx rate register TPC fy2 ($/¥, EUR/¥: year average and year-end), TPC year to February 2017–year to February 2026 (Mar–Feb; FY-end = last business day of February)