ANYCOLOR (5032) investor relations material

Executive summary

• FY26/4 revenue grew 29.9% year-over-year to ¥55.7 billion, with operating profit up 23.9% to ¥20.2 billion and net profit up 22.4% to ¥14.1 billion.

• Commerce was the main growth driver, supported by large-scale merchandise initiatives and VTuber popularity.

• The VTuber business expanded, with 179 VTubers (up by 9) and ANYCOLOR IDs increasing 20.6% to 2,033,000.

• The company debuted 18 new VTubers and continued to expand its fan base and engagement through events and content diversification.

Financial highlights

• Q4 FY26/4 revenue was ¥13.7 billion, up 2.2% year-over-year; operating profit was ¥3.26 billion (margin 23.9%), and net profit was ¥2.3 billion (margin 16.8%).

• Annual operating margin was 36.2%, with gross margin at 44.7%.

• Gross profit increased to ¥24,866 million from ¥20,109 million year-over-year.

• Direct variable costs rose due to a ¥1.8 billion inventory write-down in Q4.

• Employee-related and SG&A costs increased with new hires and bonuses.

Outlook and guidance

• FY27/4 revenue is forecast at ¥56–60 billion, with operating profit expected to decline to ¥18–20 billion and net profit to ¥12.3–13.7 billion, reflecting higher labor costs and a more disciplined VTuber casting policy.

• Q1 FY27/4 revenue is projected at ¥15.6 billion, down 1.1% year-over-year, with operating profit margin expected at 36.5%.

• Mid-term goals target revenue of ¥80 billion and operating profit of ¥26 billion by FY29/4, with a CAGR of 19.5%.

• Guidance reflects cautious outlook due to disciplined VTuber casting and rising personnel costs.