COVER (5253) Q3 2025 earnings summary

Executive summary

• Q3 FY2025 revenue reached 11,758 million yen, up 69.2% YoY, with strong growth in merchandising and live events.

• Net sales and profits for the nine months ended December 31, 2024, exceeded forecasts, driven by trading card game sales and successful live concerts.

• All major service lines—Streaming/Content, Concerts/Events, Merchandising, and Licensing/Collaborations—reported significant year-over-year growth.

• Full-year earnings forecast revised upward on February 12, 2025, reflecting robust business momentum.

• North American business exceeded initial forecasts; official EC expanded shipping to EU/UK/AUS, improving supply chain efficiency.

Financial highlights

• Net sales for the nine months reached 28,863 million yen, up 50.1% YoY; Q3 FY2025 revenue: 11,758 million yen (+69.2% YoY).

• Operating profit was 5,544 million yen, up 58.8% YoY; Q3 operating profit: 2,171 million yen (+83.0% YoY).

• Net income totaled 3,777 million yen, a 43.9% increase YoY; Q3 net profit: 1,656 million yen (+71.2% YoY).

• Merchandising revenue doubled YoY to 5,448 million yen (+101.7%); concerts/events revenue surged 143.8% YoY to 2,328 million yen.

• Basic earnings per share rose to 60.86 yen from 42.95 yen in the prior year period.

Outlook and guidance

• Full-year net sales forecast revised to 42,000 million yen, up 39.2% YoY; operating and ordinary profit forecast at 7,400 million yen; net profit forecast at 5,100 million yen.

• Q4 expected to see further growth from "hololive SUPER EXPO/hololive fes." and new TCG product launches.

• Medium- to long-term strategy focuses on IP development, commerce expansion, and metaverse deployment.

• Continued expansion in TCG, game development, and international markets anticipated.