Bandai Namco Group Integrated Report 2025

Printed in Japan
www.bandainamco.co.jp/en/ 2025
INTEGRATED
REPORT
Bandai Namco Group INTEGRATED REPORT 2025

Bandai Namco exists to share dreams, fun, and inspiration
with people around the world. Connecting people and societies
in the enjoyment of uniquely entertaining products and services,
we’re working to create a brighter future for everyone.
Bandai Namco’s Purpose
Knowing what
fans want is key.
When I see the actual reactions of our fans, I feel that we are truly
creating a brighter future alongside them.
I believe that we will be able to reach
our fans as long as we don’t forget the excitement our works bring.
Fans are essential in shaping
the brighter future we envision.
Our Purpose communicates to all individuals involved
with the Group our desire to strengthen and deepen our
connections with fans.
Under our Purpose, we seek to provide not
only fun but also new opportunities, such as
those for learning and taking on new
challenges.
It embodies our desire to make a positive
impact, no matter how small, on those who
experience our works.
Entertainment
resonates with
people’s hearts.
We will expand the reach of our
entertainment to realize our
Purpose.
Making use of the unique
qualities of IPs, employees,
and fans
to empower
others.
Our Purpose reminds us to think of
not just the work in front of us but
also those who will enjoy our prod-
ucts and services and the future.
Fans experience our works, and their expectations
grow higher every time.
This excitement makes a lasting impression and is
passed down to the next generation.
I want to provide fans with such works, whose
reach extends into the future.
Our Purpose is
the way of
being for the Group.
Beyond creating smiles, it leads to generating
both economic and social value.
Entertainment is a door to
another world.
We will provide a diverse array of such doors that lead to
even more immersive experiences.
Through entertainment, I hope to
enrich the daily lives of people around the world.
Experiencing a work you love…Getting excited
while playing a video game… The joy of creating such fun, touching
moments is reflected in our Purpose.
I like our Purpose because it resonates with
every employee and inspires us to work
positively.
We enjoy our works alongside fans
and utilize their reactions to further improve
our works. As an entertainment company, the
importance of fans goes without
saying.
Our Purpose reminds us of their impor –
tance, and therein lies its meaning.
What does Bandai Namco’s
Purpose mean to you?
Q .
Our Purpose expresses our
pure desire for fans to
enjoy our works.
It is also a starting point we can return to when we are unsure
of the direction we should take.
Note:
This page highlights the thoughts of participants
on our Purpose from the special feature of this
integrated report (pages 49 to 75).
1
INTRODUCTION

Three years have passed since we formulated our Purpose,
“Fun for All into the Future.” Our Purpose is the ultimate defi-
nition of the Bandai Namco Group and signals the direction in
which we ought to head. Over the past three years, I feel our
Purpose has become deeply entrenched across the Group. By
translating our Purpose into multiple languages, we have seen
it take root across our overseas Group companies as well, with
local employees beginning to interpret and put it into practice
in their own ways.
Under the new Mid-term Plan, which commenced in April
2025, we established the Mid- to Long-term Vision of “Connect
with Fans,” which was positioned as our Mid-term Vision
under the previous Mid-term Plan. The concept of “Connect
with Fans” is closely related to our Purpose and is also some –
thing that is deeply ingrained within the Group, similar to our
Purpose. Connecting with fans is extremely important to our
business. In fact, it is fundamental to the work we do. With the
new Mid-term Plan, we aim to create 360° connections with all
types of fans, including not only IP fans but also a wide range
of business partners, shareholders, Group employees, and society as a whole. By doing so, we will achieve the further
growth of the Bandai Namco Group, together with fans.
Integrated Report 2025 includes messages from internal
directors working under a new management structure. In
addition, the report provides an outline of the new Mid-term
Plan and explanations from frontline personnel regarding key
initiatives being implemented across various areas. For
ESG-related information, the report includes not only a mes –
sage from our lead independent outside director but also a
roundtable discussion with the outside directors, sharing their
perspectives on management oversight while introducing
specific sustainability initiatives.
We hope that this integrated report helps readers gain a
deeper understanding of the Bandai Namco Group’s direction
and latest initiatives, and we ask that you look forward in
anticipation to the future of the Group.
Yuji Asako
President and Representative Director, CEO
Bandai Namco Holdings Inc.
Bandai Namco Group Philosophy
Mission statement (the mission the Units are expected to fulfill)
Mid-term Vision (what we aim to be in the medium term)
Values (codes of conduct)
Corporate philosophy
• Mission (mission that the Company should fulfill) /
Vision (what we aim to be)
• Values (code of conduct)
Note: All tied to Bandai Namco’s Purpose
Bandai Namco’s Purpose
Connecting the World with Smiles
by Creating Entertainment
That Enriches People’s Lives
Group companies
Units
Business activities
Bandai Namco Group Ultimate definition
Mid-to Long-term
Vision
TO OUR STAKEHOLDERS
4 MAJOR IP S IN GROUP PRODUCTS AND SERVICES
6 DIVERSE RANGE OF BUSINESS FIELDS
8 ORGANIZATIONAL STRUCTURE AND IP AXIS STRATEGY
10 TRACK RECORD OF THE IP AXIS STRATEGY FOR
THE GUNDAM SERIES
12 THE BANDAI NAMCO GROUP:
OUR VALUE CREATION PROCESS
14 THE BANDAI NAMCO GROUP:
1 YEAR OF RESULTS
16 RISKS AND OPPORTUNITIES FOR
THE BANDAI NAMCO GROUP
GROWTH STRATEGY
20 DIRECTORS, BANDAI NAMCO HOLDINGS
22 CHAIRMAN’S MESSAGE
24 PRESIDENT’S MESSAGE
28 VICE PRESIDENT’S MESSAGE
30 CFO’S MESSAGE
32 CIO/CISO’S MESSAGE
34 MID-TERM PLAN OF THE BANDAI NAMCO GROUP
(APRIL 2025 TO MARCH 2028)
40 MESSAGES FROM THE PRESIDENTS OF
BUSINESS MANAGEMENT COMPANIES
48
SPECIAL FEATURE
360° Connections with Fans
GROWTH FOUNDATION

78 INDEPENDENT OUTSIDE DIRECTOR’S MESSAGE
80 ROUNDTABLE DISCUSSION AMONG THE OUTSIDE DIRECTORS
86 SUSTAINABILITY ROUNDTABLE DISCUSSION
88 PERSONNEL STRATEGY
90 SUSTAINABILITY
116 CORPORATE GOVERNANCE
130 DIRECTOR SYSTEM
134 FINANCIAL SECTION
141 CORPORATE DATA
142 OVERVIEW OF MAIN GROUP COMPANIES
About Integrated Report 2025
In editing this report, we made reference to the
IFRS Foundation’s Integrated Reporting
Framework and SASB Standards on Toys &
Sporting Goods and Software & IT Services, as
well as the TCFD recommendations.
Forward-Looking Statements
The forward-looking statements in this report are
based on the information available to manage –
ment as of August 2025 and include various risks
and uncertainties. Accordingly, actual results may
differ materially from these projections for a vari-
ety of reasons. Major factors that could influence
actual results include changes in the Bandai
Namco Group’s operating environment, market
trends, and exchange rate fluctuations.
Notes: 1. Figures in this report have been
rounded down.
2. Unless otherwise noted, figures in this report
are as of August 2025.
3. This is an English translation of the Japanese
version of the Bandai Namco Group
Integrated Report 2025. The Company
provides this translation for your reference
and convenience only and does not guarantee
its accuracy or otherwise. In the event of any
discrepancies, the Japanese integrated
report shall have precedence.
Our website provides a variety of information
about the Bandai Namco Group, such as
investor relations information and sustain-
ability initiatives. Please utilize the website in
conjunction with this report.
www.bandainamco.co.jp/en/
3
2
INTRO-
DUCTION
CHAPTER最
1
CHAPTER最
2
INTRODUCTION

The Bandai Namco Group utilizes more than 500 IPs per year to roll out products and services.
This section introduces examples of established IPs.
Since the launch of a game app for smartphones
in 2015, IDOLiSH7 has achieved a high level of
popularity, especially among women. The Bandai
Namco Group is rolling out a wide range of prod-
ucts and services, including animations, live
events, music CDs, and merchandise. Launched in 1984, DRAGON BALL comics and ani-
mations have earned the support of fans around
the world for many years. The Bandai Namco
Group provides a wide range of DRAGON BALL
products and services, such as home console games,
network content, card products, and figures.
Anpanman has been popular among parents and
children for more than 35 years. The Bandai
Namco Group provides Anpanman products and
services, centered on toys for infants.
The KAMEN RIDER series has been popular for
more than 50 years and has earned the support of
a wide range of age groups around the world. The
Bandai Namco Group provides various KAMEN
RIDER products and services, centered on toys. This IP was introduced in 1999, and its comics and
animations have been popular around the world
for many years. The Bandai Namco Group is provid-
ing a wide range of products and services, centered
on home console games and network content.
This IP was introduced in 2005. Centered on idol
production game content for smartphones and
home console games, it has earned popularity
among a wide range of fans, without regard to
gender. We are rolling out a variety of products
and services, such as music CDs, live events, ani-
mations, comics, web radio, and merchandise. With the theme of “eating,” PAC-MAN was created
in 1980 as a game that could be enjoyed by all,
without regard to age or gender. Since then, in
addition to game development, PAC-MAN has
been used in character merchandising and has
appeared in a variety of company commercials.
Even today, it is popular around the world. PAC-MAN
is one of the in-house IPs that is representative of
Bandai Namco. This in-house IP was created as a portable nurtur
–
ing toy in 1996 and today is supported by two gen-
erations—parents and their children. We are
working to broaden the scope of worldwide activi-
ties by strengthening out-licensing.
Since it’s launch in 1979, it’s products have earned
support among a wide range of age groups.
Centered on visual products, these include model
kits, home console games, network content, and
amusement machines. In addition to Japan,
initiatives are being rolled out around the world,
including Hollywood films. This IP, which was created from a project linking
magazines, visual products, and music, was intro –
duced in 2010. In addition to magazine pages and
visual and music content, live events are highly
popular.
Since its broadcast debut in 1966, Ultraman has
earned the support of a wide range of age groups,
extending to two or even three generations. The
Bandai Namco Group provides Ultraman products
and services, such as toys and visual products. The PRETTY CURE! series has been popular for
over 20 years, centered on children aged three to
six. The Bandai Namco Group provides a wide
range of PRETTY CURE! products and services,
centered on toys.
Celebrating its 50th anniversary in 2025 since its
debut in 1975, the series continues to be loved not
only in Japan but also across Asia. The Bandai
Namco Group offers a wide range of related prod-
ucts and services, centered on toys. Launched in 1997, ONE PIECE comics and anima-
tions have been popular around the world for
many years. The Bandai Namco Group provides a
wide range of ONE PIECE products and services,
such as home console games, network content,
and figures.
TH TH TH TH TH
TH TH TH
DI DI DI
DI DI
VM VM VM AM AM AM AM AM
AM AM AM
Units Developing IP Products and Services
IDOLiSH7 DRAGON BALL Series
Anpanman
KAMEN RIDER Series BORUTO / NARUTO
THE IDOLM@STER Series
PAC-MANTamagotchi Series
Gundam Series Love Live! Series
Ultraman Series
PRETTY CURE! Series
Super Sentai Series ONE PIECE
TH TH
Annual Number of IPs Utilized
More than 500
TH TH TH
TH
DI DI
DI
VM VM VM VM AM AM AM AM AM
AM
TH
Toys and Hobby
DI
Digital
VM
Visual and Music
AM
Amusement
MAJOR IPS IN GROUP
PRODUCTS AND SERVICES
5
4
INTRODUCTION

The Bandai Namco Group leverages strong IP’s as an axis in the entertainment sector to create a diverse range of business
areas. By harnessing the unique worlds and characteristics of these IPs, we operate under the ALL BANDAI NAMCO concept.
To y s
玩具
Live Entertainment
ライブエンターテインメント
Cards
カード
Amusement Machines
業務用ゲーム
Network Content
ネ ット ワ ー ク コ ン テ ン ツ
Video on Demand Content
ビ デ オ・オ ン・デ マ ン ド
Capsule Toys
カ プ セ ルトイ
Visual and Music Content
映 像・音 楽
Confectionery and Foods
菓 子・食 品
Amusement Facilities
アミューズメント施 設
Licensing
ライセンス
Movies
映画
Home Console Games
家庭用ゲーム
Works
作品制作
Collection Toys
コ レ ク ショント イ
Lifestyle
ラ イフス タイル
Model Kits
プラモデル
DIVERSE RANGE OF
BUSINESS FIELDS
7
6
INTRODUCTION

The Optimal Time
The OptimalRegion
The Optimal
Outlet
ノノノノノノノ
IPノノノノ
ノノノノノノノノ
ノノ ノ ノノノノノ
ノノ
育育 育育
最最最
ノノノノノ
最最最 ノノ
最最最
ノノ
Accumulated Know-How
IP investment
Introducing products
and services that leverage the worldviews of IPs
Cultivation Co-Creation
Maximizing
IP Value
Creation
With a system of four Units, the Bandai Namco Group is creating a diverse range of entertainment under the ALL BANDAI NAMCO
concept. In addition, the Group’s strength lies in its IP axis strategy, under which it leverages the worldviews and characteristics of
IPs (characters and other intellectual property) to maximize their value by providing optimal products and services in the optimal
regions at the optimal times.
Regional Management Companies
Bandai Namco Holdings USA Inc.
Bandai Namco Holdings Europe S.A.S.
Bandai Namco Holdings Asia Co., Ltd.
Bandai Namco Holdings China Co., Ltd.
ORGANIZATIONAL STRUCTURE
AND IP AXIS STRATEGY
Note: This illustration shows one example of IP axis development.
IP AXIS STRATEGY
MOVIES
VISUAL and
MUSIC CONTENT
LIVE
ENTERTAINMENT
NETWORK CONTENT
NEW
DEVICES
VIDEO ON DEMAND CONTENT
CARDS LIFESTYLE CONFECTIONERY and FOODS
WORKS
AMUSEMENTMACHINES
HOME CONSOLE GAMES
MODEL KITS
CAPSULE TOYS
COLLECTION TOYS
LICENSING
TOYS AMUSEMENTFACILITIES
Amusement Unit
Affiliated Business Companies
Digital Unit
Business Management Company: Bandai Namco Entertainment Inc.
Planning, development, and distribution of home console games and net work content; production and sales of
entertainment content, etc.
Toys and Hobby Unit
Business Management Company: BANDAI CO., LTD.
Planning, development, production, and sales of toys, capsule toys, cards, confectionery and foods, apparel,
lifestyle sundries, model kits, prizes, stationery, and other products
Visual and Music Unit
Business Management Company: Bandai Namco Filmworks Inc.
Planning, production, and use of visual and music content, such as animations; management and use of copyrights;
discovery and development of artists; live entertainment business
Business Management Company: Bandai Namco Experience Inc.
Planning, development, production, sales, and after-service for amusement machines; planning and operation of
amusement facilities, including theme parks and indoor playgrounds, etc.
9
8
INTRODUCTION

The Gundam series has over 45 years of history. The various Gundam titles that have been created throughout that time have
been enjoyed by a diverse group of fans, both young and old, around the world. We are working to maximize the IP value of
the Gundam series through a variety of initiatives, including the global rollout of products and services that span various
business domains of the Group and collaborations with external partners.
1991 MOBILE SUIT GUNDAM F91
MOBILE SUIT GUNDAM 0083 Stardust Memory
1993 MOBILE SUIT V GUNDAM
1994 MOBILE FIGHTER G GUNDAM
1995 MOBILE SUIT GUNDAM WING
1996 MOBILE SUIT GUNDAM
THE 08th MS TEAM
AFTER WAR GUNDAM X
1979 MOBILE SUIT GUNDAM
1985 MOBILE SUIT Z GUNDAM
1986 MOBILE SUIT GUNDAM ZZ
1988 MOBILE SUIT GUNDAM CHAR’S COUNTERATTACK
1989 MOBILE SUIT GUNDAM 0080 War in the Pocket
2011 MOBILE SUIT GUNDAM AGE
2013 GUNDAM BUILD FIGHTERS
2014 GUNDAM RECONGUISTA IN G
GUNDAM BUILD FIGHTERS TRY
2015 MOBILE SUIT GUNDAM THE ORIGIN

MOBILE SUIT GUNDAM IRON-BLOODED ORPHANS
MOBILE SUIT GUNDAM THUNDERBOLT
2018 GUNDAM BUILD DIVERS
1999 TURN A GUNDAM
2002 MOBILE SUIT GUNDAM SEED
2004 SD GUNDAM FORCE
MOBILE SUIT GUNDAM
SEED DESTINY
2007 MOBILE SUIT GUNDAM 00
2010 MOBILE SUIT GUNDAM UC (UNICORN)
SD GUNDAM SANGOKUDEN
Brave Battle Warriors
2019 MOBILE SUIT GUNDAM THE ORIGIN Advent of
the Red Comet
2021 SD GUNDAM WORLD HEROES
MOBILE SUIT GUNDAM HATHAWAY
2022 MOBILE SUIT GUNDAM
CUCURUZ DOAN’S ISLAND
MOBILE SUIT GUNDAM
THE WITCH FROM MERCURY
2024 GUNDAM: REQUIEM FOR VENGEANCE
MOBILE SUIT GUNDAM: SILVER PHANTOM
2024 MOBILE SUIT GUNDAM
SEED FREEDOM
2025 Mobile Suit Gundam
GQuuuuuuX
Major Works
DIVERSE BUSINESS
DEVELOPMENT
Gundam model kits, affectionately known
as “Gunpla,” have continually introduced
new innovations, living up to fans’ expec –
tations as evolving model kits. They also
play an important role in broadening
entry points to the IP for fans.
Anime Titles:
Over 50 titles
Publications and Side Stories:
Over 130 titles
IP
Creation
Maximizing
IP Value
1979
Movies
Cards
Visual and Music Content
Live Entertainment
Confectionery and Foods
Network Content
Amusement Facilities
Lifestyle
Collection Toys
Home Console Games Amusement Machines
New Devices
Model Kits
Total Worldwide
Shipments of Gundam Model Kits:

Over 800 million units
Video Game Titles:
Over 200 titles
Home Video Packages:
Over 19 million units
2010RG 1/1 GUNDAM PROJECT Life-sized Gundam
statue moved to (Shizuoka Prefecture, Japan)*
* This statue is no longer on display.
2017
Life-sized Unicorn Gundam
statue unveiled (Tokyo, Japan)
2000Broadcasting of Mobile Suit Gundam Wing
began in America
2009Life-sized Gundam statue
unveiled (Tokyo, Japan)*
* This statue is no longer on display.
2020“Moving Gundam” unveiled
at GUNDAM FACTORY YOKOHAMA
(Kanagawa Prefecture, Japan)*
* This statue is no longer on display.
2021Life-sized Freedom Gundam
statue unveiled
(Shanghai, China) 2022Life-sized ν Gundam statue
unveiled
(Fukuoka Prefecture, Japan)
Topics
Expanding
Businesses After
Gundam’s 45th
Anniversary
Even after 45 years since its release,
the Gundam series continues to
generate new creations. Moving
forward, we will continue to expand
the series through various ideas,
including collaborations with other
global businesses and traditional
Japanese arts and crafts.
2025Exhibited the GUNDAM
NEXT FUTURE PAVILION
at Expo 2025 Osaka, Kansai,
Japan
Sales Trend of the Gundam Series (Past 10 Years),
Bandai Namco Group
¥153.5 billion
¥78.6 billion
2025
2016
200
150
100
50
Fiscal years ended March 31
Video On Demand Content
Capsule Toys
Mobile Suit Gundam TV Broadcast Starts
Track Record of the IP Axis Strategy for the Gundam Series
THE HISTORY OF GUNDAM
11
10
INTRODUCTION

Employees
Society
Shareholders
Partners
Customers (Fans)
Working Together with Fans Around the World to Create the Future
In accordance with its Purpose, “Fun for All into the Future,” the Bandai Namco Group is combining its distinctive management
resources to implement the global rollout of the IP axis strategy, which is the Group’s greatest strength and business model, and to
provide products and services that leverage the appeal of IPs. At the same time, we are fulfilling our responsibility to contribute to
the realization of a sustainable society while helping build a future that connects people and the world.
Diverse
human resources
Number of
consolidated employees
11,345 people
(As of March 31, 2025)
Planning and develop –
ment capabilities
Annual number
of IPs utilized
More than
500
Open partnerships
with external parties
Growth investment
¥600.0 billion
over three years
(FY2025.4 to FY2028.3)
Technical capabilitiesInvestment in game con-
tent development, etc.
¥
69.7 billion
(FY2025.3)
Sales and marketing
capabilities
Advertising expenses
¥
71.5 billion
(FY2025.3)
Stable financial
position
Shareholders’ equity ratio
71.9 %
(FY2025.3)
IPs
Number of patents held
2,457(As of the end of March 2025,
Japan only)
Strategic approaches to
diverse business areas
Products and services
that make the most of
the appeal of IPs
More than
18 business areas
Number of products
Annual number of
products handled
Over
30,000
Bandai Namco’s Purpose
The Future of
Value Creation
Continuing to connect with more fans by providing products and services that leverage the appeal of IPs and by fulfilling our responsibility to help realize a sustainable society
Mid- to Long-term Vision
KEY
MANAGEMENT
RESOURCES IP AXIS
STRATEGY
The Bandai Namco Group exists to
enrich hearts through the joy of
entertainment. By connecting people, societies, and the world through
uniquely engaging experiences, we
work together with all stakeholders to create a brighter future for everyone.
Material Issues
Strengths
Outcomes of Value Creation
Sources of Value Creation and Strategies

Social Value
Green house gas emissions
Waste (recycling volume)
Number of environmentally friendly
products produced
Customer satisfaction
Status of human rights due diligence
implementation
Childcare leave utilization rate for
male and female employees
Engagement
Employment rate for people with
disabilities
Economic Value
Net sales
Operating profit
Overseas sales ratio
(on a destination basis)
Operating profit margin
Equity spread
Total return ratio
Basic earnings per share
Harmony with Nature
Safe & Responsible Products
Intellectual Property for Social Good
Building Stronger Communities
P.92
MID-TERM PLAN P.34
SUSTAINABILITY P.90
PERSONNEL STRATEGY P.88
CORPORATE GOVERNANCE P.116
W
e Grow
by Connecting w
ith M
ore Fans
Fostering a Culture of Respect
THE BANDAI NAMCO GROUP:
OUR VALUE CREATION
PROCESS
13
12
INTRODUCTION

216
195
22.1 231
246
22.8 23.7 21.1
174
19.2
20 21 2022 2023 2024 2025
Return on Equity (ROE)
17.3 %
Net Sales
¥1,241.5 billion
Return on Assets (ROA)

18.0 %
Operating Profit
¥180.2 billion
27.938.3
36.4
55.4
22.7
20 21 2022 2023 2024 2025
862.6 971.8
1,102.6
732.7
11.0
926.3
14.3
18.0 16.7
13.0
20 21 2022 2023 2024 2025
Total Assets (¥ billion)
ROA(%)
125.4
90.6
180.2
84.6
11.4 8.6
116.4
11.8 14.5 14.1
20 21 2022 2023 2024 2025
Operating
Profit
(¥ billion)
Operating
Profit Margin
(%)
Note: Percentages are calculated based on sales before elimination of intersegment
transactions.
Shareholders’ Equity Ratio
71.9 %
542.5 623.4
472.8
72.0
584.7
70.4
678.0
71.9
67.7
69.7
20
21 2022 2023 2024 2025
Shareholders’
Equity
(¥ billion)
IP Production
(Visual and
Music)
6.9 %
IP Production
(Visual and
Music)
6.1 %
Amusement
10.7 %
Amusement
4.4 %
ROE(%)
793.2
17.3
584.2 699.8
511.4 15.0
652.1
14.6
16.9
10.2
20 21 2022 2023 2024 2025
Total Net
Assets
(¥ billion)
740.9 889.2
990.0
1,241.5
1,050.2
22.3 29.7
27.8
28.5
30.2
20 21 2022 2023 2024 2025
Net Sales(¥ billion)
Overseas
Sales Ratio
(%)
Digital
34.5 %
Toys and
Hobby
45.2 %
To ys and
Hobby
53.1 %
Others
2.7 %
Others
0.8 %
YoY
+18.2 %
YoY
+98.7 %
Capital
Investments
(¥ billion)
DRAGON BALL series
Digital
35.6 %
2024
2024 2025
¥140.6 billion ¥190.6 billionGundam series
2024
2025
ONE PIECE
2025
KAMEN RIDER series
20242025
¥31.5 billion ¥30.7 billion
Ultraman series
2024 2025
Asia, Excluding Japan
8.7 %
Europe
10.2 %
Americas
11.3 %
Note: Percentages are calculated based on external
sales. Figures are estimates based on manage –
ment accounting.
Japan
69.8 %
29.3 27.7
27.3
0.02
22.5
0.03 28.6
0.02
0.05 0.05
2021 2022 2023 2024 2025
* Debt/equity ratio = Interest-bearing debt ÷
Total shareholders’ equity
Interest- Bearing Debt(¥ billion)
Debt/Equity Ratio*
0.02 Times
Bandai Namco Holdings Inc. and Consolidated Subsidiaries
For the Fiscal Years Ended March 31 FY2025.3
ESG (For detailed data, please refer to FACT BOOK 2025, a separate publication.)
Industrial Waste
2,617 tons
Recycling Volume
2,654 tons
Number of Consolidated Employees
11,345 people
Number of Independent Directors
5/14
Debt/Equity
Ratio
(times)
Segment Sales Ratio
Sales of IP Products and Services (Group Total)Investment in Game Content
Development, etc.
Contributions to Net Sales by
Geographic Region Segment Profit Ratio
Shareholders’
Equity Ratio
(%)
Female Managers
*
The data covers Bandai Namco Holdings Inc., BANDAI CO., LTD.,
BANDAI SPIRITS CO., LTD., Bandai Namco Entertainment Inc.,
Bandai Namco Filmworks Inc., Bandai Namco Music Live Inc.,
Bandai Namco Amusement Inc.,
and Bandai Namco Business Arc Inc.
Number of
Female
Managers*
(people)
Ratio of
Female
Managers to
Total Managers*
(%)
¥69.7 billion
CO2 Emissions
* The data covers BANDAI CO., LTD., BANDAI SPIRITS CO., LTD., Bandai Namco Entertainment Inc.,
Bandai Namco Filmworks Inc., and Bandai Namco Amusement Inc.
Scope3*
1,325,924 t-CO 2
Scope1+Scope2
52,564 t-CO 2
Overview of Results

We promoted collaborations across each region and
business centered on the IP axis strategy and strength-
ened Groupwide measures under the ALL BANDAI
NAMCO concept.

In the Digital Business, mainstay app titles for network
content achieved steady performance around the
world. Performance of home console games remained
strong, driven by globally successful titles and robust
repeat sales.
In the Toys and Hobby Business, favorable results were
recorded due to the increase in the global rollout of prod-
ucts in various categories, expansion of contact points
with fans, and reinforcement of our production structure.
In the IP Production Business, performance in the visual
works business was robust, and we also recorded solid
results in terms of licensing, online distribution, live
events, and packaged sales, among others.
In the Amusement Business, we had success with open-
ing new facilities featuring Group products and services
and achieved solid sales of new products and mainstay
amusement machines.
¥112.1 billion ¥139.5 billion
¥145.7 billion ¥153.5 billion
¥19.1 billion ¥14.0 billion
* On April 1, 2023, we conducted a share split that split
one share of common share into three shares.
Calculations are based on the assumption that the
share split was conducted at the beginning of FY2022.3.
Basic Earnings per Share
¥197.88
Before Share Split(yen) After Share Split*
153.85
422.09
136.88
140.70 197.88 222.58
20
21 2022 2022 2023 2024 2025
52,564 52,462
56,517
57,916
55,403
2022
2021 20232024 2025
Scope2+
Scope1
(t-CO 2)
THE BANDAI NAMCO GROUP:
1 YEAR OF RESULTS
15
14
INTRODUCTION

For the Bandai Namco Group to record sustained growth over the medium to long term, we will need to reduce risks and
make the most of opportunities by responding rapidly to changes in the environment, identifying risks and opportunities for
the Group, and considering and implementing measures to address them. At senior management meetings and various
committees, we are analyzing and sharing information about risks and opportunities and considering measures. In these
ways, we will maintain an appropriate risk management system. In addition, we will strive to leverage new opportunities
arising from changes in the business environment and to implement a range of initiatives going forward.
Major Groupwide Risks and Opportunities
Risks and Opportunities Measures
Items
accompanying
the advancement of
the IP creation,
cultivation,
and rollout
Risks
Intensification of competition in the IP business Rapid changes in markets and customers and
technological progress
Dependence on specific IPs Increased investment in IP creation, acquisition, and
protection
Problems with quality, etc., in IP products and services Damage to IP value due to IP infringements, etc. Securing and development of the human resources who
will advance the IP axis strategy Implementing the following initiatives alongside enhancing brand value through the
permeation of the Purpose “Fun for All into the Future” and advancing the main strate –
gies of the Mid-term Plan:
Strengthening new IP creation and cultivation and the rollout of established IPs Establishing diverse IPs, businesses, and regional portfolios Strengthening collaborations with external partners Demonstrating synergies, such as from collaborations involving initiatives in both the
physical and digital business categories
Implementing initiatives for new business models, businesses, and platforms Executing strategic investments Restructuring the organization to leverage comprehensive strengths, including through
collaborations between Units and regions

Strengthening quality control systems, employee training, and supply chain
management
Strengthening development systems with a focus on quality Improving marketing activities and forecast accuracy through the utilization of customer data Appropriately utilizing and protecting IPs, including the elimination of counterfeit prod-
ucts and services, and conducting awareness activities both internally and externally

Introducing systems and frameworks to promote the active role of diverse human resources Bolstering a sound financial position Opportunities
Promotion of collaboration among regions and
businesses

Expansion of potential for the creation of new markets,
businesses, business models, and IPs as a result of rapid
changes in markets and customers and advances in
technology
Expansion of market presence through increased global
recognition of Japanese IPs
Expansion of potential for new IP creation Sustainable development of entertainment through
appropriate utilization and protection of IPs
Items
accompanying
the expansion of
categories
and areas
Risks
Intensification of competition and imitation of business
model
Compliance with laws, regulations, and industry stan-
dards in each region and business domain
Adaptation to customer preferences, media environ-
ments, and business practices in each region
Response to increased demand Securing and development of the human resources who
will advance the IP axis strategy Implementing the following initiatives alongside enhancing brand value through the
permeation of the Purpose “Fun for All into the Future” and advancing the main strate –
gies of the Mid-term Plan:
Integrating and consolidating offices in each region Strengthening governance structure overseas Strengthening the system for the collection and sharing of the latest information about
each business and region
Strengthening collaborations with external partners Rolling out local IPs and offering products and services tailored to local preferences
and market environments
Increasing recognition of our product and corporate brands by enhancing sales promo –
tions and marketing activities
Bolstering e-commerce capabilities and enhancing logistics network Enhancing production structure, including in-house factories Restructuring the organization to leverage comprehensive strengths, including through
collaborations between Units and regions

Strengthening quality control systems, employee training, and supply chain
management

Introducing systems and frameworks to promote the active role of diverse human resources
Opportunities
Promotion of collaboration among regions and
businesses
Expansion of market presence through increased global
recognition of Japanese IPs
Sustainable development of entertainment through
appropriate utilization and protection of IPs
Items
accompanying
the active utilization
of diverse human
resources
Risks
Increased competition in securing the human resources
who will advance the IP axis strategy
Shortage of corporate talent that serves as the business
foundation
Intensification of competition in building relationships
with external creative talent and external business
partners Implementing the following initiatives alongside the permeation of the Purpose “Fun for
All into the Future” within the Group: Introducing and integrating systems and frameworks that promote the active role of
diverse human resources
Securing and developing global and corporate talent Assessing the current situation by implementing an employee engagement survey and
promoting response measures accordingly
Promoting collaborations with external partners and creating new opportunities for
employees to play active roles in doing so
Facilitating the exchange of personnel across regions and businesses
Opportunities
Improved engagement of Group employees
Items
accompanying
information security
Risks
Information leaks and effects on business systems
resulting from cyberattacks, etc.
Technological progress and changes in laws and
regulations
Decline in in-house information literacy

Strengthening monitoring and vulnerability countermeasures
Expanding information security departments
Strengthening information security training
Collecting the latest information and strengthening relationships with external specialists Establishing a personal information management system compliant with global privacy laws
Items
accompanying
other external
factors
Risks
Natural disasters and accidents Changes in the political situation Revision of laws and regulations Exchange rate fluctuations Spread of infectious diseases
Promoting activities such as training based on the business continuity plan and busi-
ness continuity management along with continuous reevaluation
Strengthening the risk management system Strengthening the system for the collection and sharing of the latest information about
each business and region
Implementing initiatives in accordance with the circumstances or requests of national
and local governments in each country or region
Ensuring strict hygiene practices and promoting employee health management Providing social support, such as through the contribution of funds and other busi-
ness-based measures
Major Risks and Opportunities in Each Business
Risks and Opportunities Measures
Items Accompanying
Groupwide Businesses
Opportunities
Spread and expansion of network environment Technological progress Expansion of customer touchpoints through digitalization
Addressing new technologies and platforms Strengthening initiatives to enhance IP recognition as well as global
rollouts
Strengthening digital initiatives, such as digital marketing for online
events and e-commerce capabilities
Toys and Hobby Unit
Risks
Trend toward fewer children in Japan Increase in price of raw materials and fuel Legal and environmental changes related to import–export
transactions
Strengthened regulations regarding the trend away from the use
of plastic
Concentration of production areas and quality control
Expanding target demographics, business operations, and regions Reforming and increasing the efficiency of the value chain in
development and production
Promoting efforts to recycle and reduce plastic through the
development of new materials
Strengthening e-commerce capabilities Enhancing and increasing efficiency of production structure Dispersing manufacturing bases and strengthening quality control
systems
Opportunities
Expansion of market presence through increased global recogni-
tion of Japanese IPs
Digital Unit
Risks
Prolonged development periods and increased investment Platform diversification Technological progress Securing and development of talent for title development
Strengthening development systems with a focus on quality and
increasing efficiency
Actively responding to new technologies, platforms, and business
models
Strengthening collaborations with external partners, including
external studios
Building an optimized title portfolio Continuing communication with fans after title releases Strengthening research and information collection, such as for new
technologies
Enhancing development environments, acquiring talent, and
strengthening talent development
Opportunities
Growing potential for new markets, businesses, and business
models as a result of technological advancements
Visual and Music Unit
Risks
Prolonged production periods and increased investment Intensification of competition in IP creation Securing and development of human resources in production Enhancing production environments, securing human resources,
strengthening human resources development
Strengthening collaborations with external partners, including
external studios
Investing to enhance production technologies Maximizing IP value by expanding opportunities for visual works
development and utilization through transmedia development and
enhanced licensing
Expanding global rollouts
Opportunities
Growing availability of environments where content is accessible
to global markets
Recovering demand for real-world entertainment
Amusement Unit
Risks
Diversification of entertainment utilizing real venues Increase in fuel prices, etc. Challenges in securing talent and higher personnel expenses Strengthening collaboration with Group resources, such as IPs,
products, and services
Increasing efficiency and strengthening stable business foundation Strengthening the acquisition and development of talent specializing
in each business through reorganization
Addressing diverse workstyles
Opportunities
Recovering demand for real-world entertainment
IPs
RISKS AND OPPORTUNITIES
FOR THE BANDAI NAMCO GROUP
17
16
INTRODUCTION

GROWTH STRATEGY
Through the current Mid-term Plan, launched under our new structure, we will
build 360° connections with all fans—not only IP fans but also business partners,
shareholders, employees, and society at large. By connecting with fans in ways that
are broad, deep, and multifaceted, the Bandai Namco Group will continue to
achieve further growth. 20

DIRECTORS, BANDAI NAMCO HOLDINGS
22
CHAIRMAN’S MESSAGE
24
PRESIDENT’S MESSAGE
28
VICE PRESIDENT’S MESSAGE
30
CFO’S MESSAGE
32
CIO/CISO’S MESSAGE
34
MID-TERM PLAN OF THE BANDAI NAMCO
GROUP (APRIL 2025 TO MARCH 2028)
40
MESSAGES FROM THE PRESIDENTS OF
BUSINESS MANAGEMENT COMPANIES
48
SPECIAL FEATURE
360° Connections with Fans
1
CHAPTER
19
18

Toshio Shimada
Director (Part-Time, Outside)
Koichi Kawana
Director (Part-Time, Outside)
Takashi Kaneko
Director
Audit & Supervisory
Committee Member
Hiroshi Kawasaki
Director (Part-Time)
President and CEO of
Bandai Namco Experience Inc.
Directors,
Satoko Kuwabara
Director
Audit & Supervisory
Committee Member
(Part-Time, Outside)
Takayuki Komiya
Director
Audit & Supervisory
Committee Member
(Part-Time, Outside)
Toru Shinoda
Director
Audit & Supervisory
Committee Member
(Part-Time, Outside)
Masaru Kawaguchi
Chairman and Director
Yuji Asako
President and Representative Director
CEO
Takashi Tsuji
Director
Nobuhiko Momoi
Executive Vice President and Director
(As of June 23, 2025)
Noriko Fujita
Director
Kazuhiro Takenaka
Director (Part-Time)
President and CEO of
BANDAI CO., LTD.
Makoto Asanuma
Director (Part-Time)
President and CEO of
Bandai Namco Filmworks Inc.
Nao Udagawa
Director (Part-Time)
President and CEO of
Bandai Namco Entertainment Inc.
Bandai Namco Holdings
21
20
CHAPTER 1最 最最 GROWTH STRATEGY 最

“
CHAIRMAN’S MESSAGE
director, held repeated discussions covering various
aspects. The outside directors offered advice and recom-
mendations in line with succession plans based on a thor –
ough understanding that the new management structure is
well-suited for realizing the further growth of the Group
going forward.
Realizing Further Growth by Bringing
Together the Group’s Strengths Through
Our Purpose and Mid-to Long-term Vision

Looking back on the four years I served as president, I am
very proud of the fact that we were able to more than
double our operating profit. This result was of course made
possible through the dedication of our frontline personnel
who take pride in working for the Bandai Namco Group. I
also feel that establishing our Purpose, which is the ulti-
mate definition of the Group, was a major accomplish-
ment. Rather than adopting a top-down approach, we
formulated the Purpose through the lens of our employees,
and I have been extremely impressed by how many
employees have taken the Purpose to heart and put it into
practice in their daily work. At the same time, I am
extremely pleased with the high employee engagement
survey scores that we continued to achieve during my time
as president.
The entertainment industry of today is truly brimming
with opportunities. By repeatedly taking on challenges in
this positive operating environment, we can evolve into a
more dynamic Bandai Namco Group. To that end, we will
continue to strive to form 360°connections with fans and
creating a world of smiles and happiness. We sincerely ask
for your continued support and encouragement as we
pursue these endeavors moving forward.
September 2025
Transitioning to a New Management
Structure with the Start of the Current
Mid-term Plan

From April 2025, I have become the chairman and director, and
Yuji Asako has become the president and representative director.
With the conclusion of the previous Mid-term Plan, which ran
from April 1, 2022, to March 31, 2025, and the start of the current
one, we transitioned to a new management structure. Under this
new structure, we will continue to promote our strategies while
working to make our decision-making more consistent.
In FY2025.3, we achieved a record-high performance through
the collective strength of the Group, and this has brought me a
great sense of joy and accomplishment. However, while we
recorded significant growth in existing businesses under the period
of the previous Mid-term Plan, I believe we are now faced with the
issue of establishing new business pillars under the current Mid-
term Plan. I fully expect that the new president, Yuji Asako, under –
stands this issue and will take steps to address it moving forward.
Mr. Asako was involved in the management integration of
Bandai Co., Ltd. and Namco Limited in 2005. In 2010, he was
appointed as a director of Bandai Namco Holdings Inc., and since
then, he has fulfilled key management responsibilities, particu-
larly in the areas of corporate planning and business administra-
tion. He also has a track record as CFO, being involved in
Groupwide financial and capital strategies, engaging in repeated
dialogues with capital markets, and building strong relationships
with various stakeholders. He has also held roles as chief sustain-
ability officer (CSO) and chief information security officer (CISO),
demonstrating his ability to lead cross-organizational functions
across the Group. Looking ahead to the future, the Group’s man-
agement team will be expected to not only pursue business
growth but also ensure that the Group fulfills its social responsi-
bilities as a corporate citizen. From this standpoint, I believe Mr.
Asako is exceptionally well-suited for the role, as he brings multi-
faceted insight and the ability to provide leadership that is well-
aligned with changing societal needs.
Furthermore, I believe that the newly appointed executive
vice president, Nobuhiko Momoi, will play a key role in not only
strengthening collaboration between Units and regions but also
actively promoting co-creation and collaborations with external
partners. Going forward, the Bandai Namco Group must go
beyond simply what it has done in the past to explore the poten-
tial in areas not entirely covered by its existing businesses as well
as completely new business domains. I believe we can achieve
further growth if we are able to cultivate new domains through
alliances and collaborations with external partners, rather than
handling everything only within the Group. The close collabora-
tion between Mr. Asako and Mr. Momoi provides an extremely
robust structure that can serve as the engine for driving the success
of the Mid-term Plan.
Making New Contributions in My Role as
Chairman

Looking ahead, I will strive to contribute to management by pro –
viding support to Mr. Asako from both the perspective of
Groupwide optimization and from the standpoint of my position
as chairman. In the transition to the new management structure,
I have relinquished my representative authority so that Mr. Asako
could take over as the sole representative. This decision was
based on my belief that it is better to have a single person be the
ultimate decision-maker. A similar approach was taken when I
was appointed as president. At that time, I made decisions based
on careful consideration and reflection while receiving the sup –
port of then-Chairman Mitsuaki Taguchi. I feel that, to ensure
effective management, it is crucial that each director takes
responsibility in their respective area of expertise, while the rep –
resentative director ultimately assumes responsibility for deci-
sion-making that contributes to corporate value enhancement.
In the selection process for the new management structure,
the Personnel Committee, a voluntary body that comprises a
majority of outside directors and is chaired by an outside
Masaru Kawaguchi
Chairman and Director
Bandai Namco Holdings Inc.
Evolving into a More Dynamic Bandai Namco Group
Under a New Management Structure
CHAIRMAN’S
MESSAGE
23
22
CHAPTER 11 11 GROWTH STRATEGY 1

“
PRESIDENT’S MESSAGE
By creating 360° connections with our fans,
we will realize sustainable growth together
Assuming My New Role as President

I have been appointed as president and representative director of
Bandai Namco Holdings Inc. I joined Bandai Co., Ltd. in 1986 and
transferred to Bandai Namco Holdings in 2005. Since then, I have
been involved in a wide range of work, centered on corporate
planning and business administration. In 2010, I was appointed
as a director of the Company and have since participated in
Group management from a corporate perspective.
The Bandai Namco Group was born exactly 20 years ago,
with the management integration of two distinctive companies:
Bandai Co., Ltd. and Namco Limited. The president at the time,
Takeo Takasu, as well his successors, the late Shukuo Ishikawa
and Mitsuaki Taguchi, laid the foundation of the Group and
instilled the values that would become part of the Bandai Namco
DNA. Following that, the strong leadership of my predecessor,
Masaru Kawaguchi, became a driving force behind our rapid
growth, resulting in net sales reaching ¥1 trillion. As I take the
baton from these past presidents and assume the responsibility
as leader of the Group, I am reminded once again of the weight of
this role and feel determined to tackle the challenges ahead.
Although we have continued to achieve business growth in
recent years, the Group’s organization itself still retains some of
the characteristics of a federation of small and medium-sized
companies, each with its own distinct features. To create an envi-
ronment where employees can work with peace of mind and take
on new challenges with confidence, it is essential that we estab –
lish foundational infrastructure and conduct regular mainte –
nance. With our current stable performance, now is the perfect
time to do just that. When doing so, we also have the opportunity
to foster an environment where each business can pursue new
endeavors in a free and open-minded manner.
One pressing issue for us to address is strengthening Group
governance, both in terms of achieving sustainable growth over
the next 10 to 20 years and of fulfilling our social responsibilities
as a corporate citizen. It is my mission to build and strengthen a
foundation to help us achieve these goals while striking a balance
between proactive and cautious approaches.
Promoting Management Through a
Team-Based Structure
I have spent most of my career working in corporate divisions and
have always been mindful of maintaining a clear division of roles
with the business side. Although I will be the ultimate decision-
maker as president, I will need Executive Vice President Momoi to
proactively demonstrate his leadership in strategic areas such as
the CW360 strategy (see page 37 for details). Mr. Momoi has a thor –
ough understanding of frontline operations and, in recent years,
has been extensively involved in Groupwide projects such as the
GUNDAM NEXT FUTURE PAVILION at Expo 2025 Osaka, Kansai,
Japan He therefore is an ideal person to take on such a role.
Also, in line with promoting management through a team-
based structure, I have newly appointed directors Takashi Tsuji
and Noriko Fujita to tak