Worth reading
61In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
—
Displayed only when the document provides numerical figures.Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Partially revisedNet Sales0.0%
基準 100,000Target100,000million
Operating profit0.0%
基準 25,000Target25,000million
Each line is the climb from the baseline the document states to the target it sets. The slope is scaled against the largest climb in this document. The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
Total investment planApproximately ¥50 billion in total (growth investment and M&A allocation)
Investment amount by sectorField Growth Investment and M&A / Amount Approximately ¥50 billion in total
Statements about the use of capital
Payout ratio / DOE policyImplement flexible shareholder returns with a focus on capital efficiency. Numerical targets and the applicable period for the payout ratio and DOE are Not disclosedThe payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Treasury share acquisition policyImplement flexible share repurchases. The repurchase limit, timing and terms are Not disclosed
Self-assessment of PBR and share priceThe company recognizes a gap between its strong cash-generating ability and market valuation, and states that share repurchases can currently be regarded as a high-return investment. Specific PBR and share price figures are Not disclosedPBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Building a next-generation talent ecosystem
02Strategic pivot away from metaverse development
03Investment phase focused on strengthening the growth platform
04Developing the creative environment
05Strengthening talent management
06Fostering a healthy community
07Expanding brand touchpoints through media mix development
08Strengthening the foundation for global expansion and optimizing supply chain management
09Restructuring organizational and management decision-making processes
10Clarifying investment evaluation criteria
11Concentrated capital investment in creating talent value
Plan assumptionsThe plan assumes that the medium-term targets can be achieved through organic growth. Strategic partnerships and the use of external resources will not be ruled out as growth options. The sales mix is expected to fluctuate during the period as the company pursues growth investment and diversifies its revenue opportunities.
Size of the Target MarketMarket VTuber market / Scale ¥126 billion / As of Estimated 2025 market size / Source Yano Research Institute Ltd., “In-Depth Study of the VTuber Market 2025: Market Research Edition”, Market Global anime market / Scale ¥3.8 trillion / As of 2024 anime industry market (broadly defined anime market) / Source Association of Japanese Animations, “Anime Industry Report 2025”, Market Global content market / Scale ¥135.6 trillion / As of Global content industry market size in 2022 / Source Ministry of Economy, Trade and Industry, “Strategy for the Entertainment and Creative Industries: Five-Year Action Plan to Achieve ¥20 Trillion in Overseas Sales of the Content Industry”
Risks identified by the company
Risks associated with dependence on external video distribution platforms
Risks related to the popularity, activity frequency and continued activities of affiliated VTubers
Changes in consumer demand trends due to external factors
Reason for revision or withdrawal
The adjustment phase resulting from changes in the current talent mix and community environment has been conservatively reflected in the budget. Milestones and investment allocation will be continuously reviewed in light of the external environment.
| Item | Details |
|---|---|
| Plan name | Medium-Term Targets (Fiscal Year Ending March 2026 to Fiscal Year Ending March 2030) |
| Plan period | Fiscal years ending March 2026 to March 2030 |
| Progress against the plan | Partially revised |
| Sales Target | 100,000~ → 100,000~ |
| Operating profit target | 25,000~ → 25,000~ |
| Payout ratio / DOE policy | Implement flexible shareholder returns with a focus on capital efficiency. Numerical targets and the applicable period for the payout ratio and DOE are Not disclosed |
| Treasury share acquisition policy | Implement flexible share repurchases. The repurchase limit, timing and terms are Not disclosed |
| Self-assessment of PBR and share price | The company recognizes a gap between its strong cash-generating ability and market valuation, and states that share repurchases can currently be regarded as a high-return investment. Specific PBR and share price figures are Not disclosed |
| Total investment plan | Approximately ¥50 billion in total (growth investment and M&A allocation) |
| Investment amount by sector | Field Growth Investment and M&A / Amount Approximately ¥50 billion in total |
| Plan assumptions | The plan assumes that the medium-term targets can be achieved through organic growth. Strategic partnerships and the use of external resources will not be ruled out as growth options. The sales mix is expected to fluctuate during the period as the company pursues growth investment and diversifies its revenue opportunities. |
| Key initiatives | Building a next-generation talent ecosystem, Strategic pivot away from metaverse development, Investment phase focused on strengthening the growth platform, Developing the creative environment, Strengthening talent management, Fostering a healthy community, Expanding brand touchpoints through media mix development, Strengthening the foundation for global expansion and optimizing supply chain management, Restructuring organizational and management decision-making processes, Clarifying investment evaluation criteria, Concentrated capital investment in creating talent value |
| Reason for revision or withdrawal | The adjustment phase resulting from changes in the current talent mix and community environment has been conservatively reflected in the budget. Milestones and investment allocation will be continuously reviewed in light of the external environment. |
| Size of the Target Market | Market VTuber market / Scale ¥126 billion / As of Estimated 2025 market size / Source Yano Research Institute Ltd., “In-Depth Study of the VTuber Market 2025: Market Research Edition”, Market Global anime market / Scale ¥3.8 trillion / As of 2024 anime industry market (broadly defined anime market) / Source Association of Japanese Animations, “Anime Industry Report 2025”, Market Global content market / Scale ¥135.6 trillion / As of Global content industry market size in 2022 / Source Ministry of Economy, Trade and Industry, “Strategy for the Entertainment and Creative Industries: Five-Year Action Plan to Achieve ¥20 Trillion in Overseas Sales of the Content Industry” |
| Risks identified | Risks associated with dependence on external video distribution platforms, Risks related to the popularity, activity frequency and continued activities of affiliated VTubers, Changes in consumer demand trends due to external factors |
| Publication date | 14 May 2026 |
Items this document does not state (9)
Operating profit margin targetNet income targetROE targetROIC targetCost of capitalSegment targetNon-financial targetsResults under the previous planDate of board resolution
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.In light of recent changes in traffic, the talent mix and the community environment, the company aims to strengthen the business foundation supporting talent value and the fan experience and transition to a more sustainable earnings structure. Its policy is to integrate the technologies and assets developed through metaverse development into its existing businesses and optimize investment allocation.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.