Kadokawa Corp FY2026 Q1 Earnings Release

Earnings Results
The 1 st Quarter Ended June 30, 2026 ｜ August 13, 2026

Contents
1. Consolidated Earnings Results for the 1 st Quar ter of
the Fiscal Year E nding March 31, 20 27 P3
2. Consolidated Earnings Forecasts
for the Fiscal Year E nding March 3 1, 20 27 P14
3. Major KPIs of the Mid -term Management Plan P17
4. Appendix P22

Consolidated Earnings Results for the 1st Quarter
of the Fiscal Year Ending March 31, 2027

4
Consolidated Earnings Results for the 1 st Quarter
of the Fiscal Year Ending March 31, 2027(Unit: Million JPY) Apr.ーJun. 2025
Results
Apr.ーJun. 2026
Results
Year on year
(changed amount)
+5.3%
(+3,408)
-45.5%
(-1,054)
└ Operating margin 3.6% 1.9% -1.7pt
+2.5%
(+59)
–
(-7,399)
-19.3%
(-863)
Net sales 64,844 68,252
Operating profit 2,318 1,264
Ordinary profit 2,349 2,409
Profit attributable to
owners of parent 2,858 -4,540
EBITDA
(Operating prifit + depreciation
+ amortization of goodwill)
4,475 3,612

5
Net Sales and Operating Prof it by Business Segment(Unit: Million JPY) Apr.ーJun. 2025
Results
Apr.ーJun. 2026
Results
Net sales 34,463 37,966 +10.2% (+3,503)
Operating profit -967 1,187 – (+2,154)
Net sales 9,896 12,478 +26.1% (+2,581)
Operating profit 137 -660 – (-797)
Net sales 8,655 5,418 -37.4% (-3,236)
Operating profit 3,379 1,390 -58.8% (-1,988)
Net sales 5,355 5,370 +0.3% (+15)
Operating profit 690 593 -14.0% (-96)
Net sales 4,388 4,789 +9.1% (+401)
Operating profit 858 895 +4.3% (+36)
Net sales 3,375 3,472 +2.9% (+97)
Operating profit -1,022 -1,107 – (-85)
Net sales -1,290 -1,244 – (+45)
Operating profit -757 -1,034 – (-277)
Animation/Film
Year on year
(changed amount)
Publication/
IP Creation
Gaming
Web services
Corporate/
Eliminations
Education/EdTech
Others

6
Summary of Consolidated Earnings Results for the 1st Quarter of the Fiscal Year Ending
March 31, 2027
• Net sales: +5.3 % , operating profit: -45.5 % , ordinary profit: +2.5 % , net profit: -7,399M
➢ In Publication /IP Creation, domestic operations saw significant growth in both sales and profit, driven not only by the
results of business structural reforms, such as price revisions and improvements in return rates, but also by the
contribution of hit titles. The i nte rna tiona l pa pe r -ba se d books busi ne ss a l so a chi e ve d ste a dy growth, re sul ti ng i n
strong sa l e s a nd prof i t growth for the se gme nt a s a whol e .
➢ In Animation /Film, sales increased significantly thanks to popular series such as Re:Zero – Starting Life in Another World
and Classroom of the Elite , as well as contributions from new anime titles like The Warrior Princess and the Barbaric King .
At the sa me ti me , prof i ts de cl i ned due to fa ctors such a s the ongoi ng ri se i n producti on costs for a ni ma te d
works.
➢ In Gaming, repeat sales of titles such as ELDEN RING remained steady. H owe ve r, both sa l e s a nd prof i t de cl i ne d
compa re d to the sa me pe ri od l a st ye a r, whe n ELD EN R IN G N IG H TR EIGN contri bute d si gni f ica ntly to
pe r forma nce .
➢ In We b Se r vi ce s, N i coni co C hoka i gi 2 0 2 6 a nd othe r e ve nt s drove ove ra l l se gme nt sa l e s growth. H owe ve r, prof i t
de cl i ne d due to a ye a r -on -ye a r i ncre a se i n IT i nfra structure costs a nd i nve stme nt e xpe nse s for cre a tor
de ve l opment.
➢ In Education /EdTech, student enrollment grew steadily for both Vantan and the N High School Group /ZEN University,
resulting in increased sales and profit.
➢ In contra st to the pre vi ous pe ri od, whi ch sa w fore i gn e xcha nge l osse s, thi s pe ri od we poste d fore i gn e xcha nge
ga i ns, l e a di ng to a n i ncre a se i n ordi na r y prof i t.
➢ N e t prof i t de cl i ne d si gni f ica ntly compa re d to the pre vi ous pe ri od, whi ch sa w a de cre a se i n i ncome ta xe s due to
a me rge r be twe e n subsi di a rie s, i n a ddi tion to a n e xtra ordi na r y l osse s of a pproxi mately 5 . 4 bi l lion ye n re sul ti ng
from the i mpl ementa tion of a spe ci a l e a rl y re ti re me nt progra m.

7
34,463
37,966
▲967
1,187
-1,000
0
1,000
2,000
3,000
4,000
5,000
-8,000
0
8,000
16,000
24,000
32,000
40,000
FY2025 FY2026
• A m i d a c o n t i n u i n g m a r ke t c o n t ra c t i o n , s a l e s i n c r e a s e d t h a n k s t o t h e r e s u l t s o f
b u s i n e s s s t r u c t u ra l r e f o r m s , i n c l u d i n g p r i c e r e v i s i o n s a n d i m p r ov e m e n t s i n r e t u r n ra t e s ,
a s w e l l a s c o n t r i b u t io n s f r o m h i t t i t l e s s u c h a s Co s m i c P r i n c e s s Ka g u ya ! .T h e n u m b e r o f
n e w b o o k t i t l e s wa s g e n e ra l ly i n l i n e w i t h t h e p l a n (YoY -2. 3 % ) .
• A m i d a t r e n d o f s l o w i n g m a r ke t g r o w t h , s a l e s i n c r e a s e d d u e t o t h e r e s u l t s o f
b u s i n e s s s t r u c t u ra l r e f o r m s a n d c o n t r i b u t i o n s f r o m h i t t i t l e s s u c h a s M u n o u s a i j o H a
A k u j o N i N a r i t a i .
• S a l e s i n c r e a s e d d u e t o t h e s t e a d y g r o w t h o f e x i s t i n g b a s e s i n t h e U S a n d A s i a
a n d t h e c o n t r i b u t i o n s o f E d i z i o n i ( I t a l y ) , w h i c h wa s c o n s o l i d a t e d f r o m 2 Q o f t h e
p r e v i o u s f i s c a l y e a r .
Business Overview – Publication /IP Creation Segment
Net sales +10.2 % / +3,503M
1Q YoY Analysis
• I n t h e d o m e s t i c p a p e r -b a s e d b o o k s a n d e -b o o k b u s i n e s s e s , t h e m a r g i n a l p r o f i t ra t e
i m p r ov e d d u e t o t h e e f f e c t s o f p r i c e r e v i s i o n s a n d h i t t i t l e s , d r i v i n g a n i n c r e a s e i n
p r o f i t . Pe r s o n n e l e x p e n s e s d e c r e a s e d c o m p a r e d t o t h e p r e v i o u s f i s c a l y e a r.
Operating profit: – / +2,154M
1Q
(Apr. -Jun.)
Outlook for 2Q and Beyond
• T h e e f f e c ts o f p r i c e r e v i s i o n s i n t h e d o m e s t i c m a r ke t w i l l c o n t i n u e f r o m 2 Q o n wa r d .
We a r e a l s o i m p l e m e n t i n g m e a s u r e s s u c h a s o p t i m i z i n g n u m b e r o f c o p i e s a n d s t ra t e g i c
i n v e s t me n t i n a d v e r t i s i n g e x p e n s e s , a n d e x p e c t t h e e f f e c t s o f t h e s e t o m a t e r i a l i z e
g ra d u a l l y.
• T h e e f f e c t o f r e d u c i n g f i x e d c o s t s t h r o u g h t h e s p e c i a l e a r l y r e t i r e m e n t p r o g ra m i s
e x p e c t e d t o b e a p p r ox i m a t e l y 0 . 8 b i l l i o n y e n f r o m 2 Q o n wa r d .
Domestic paper -based
books/information media
YoY +16.4 %
Composition ratio: 27%
International
paper -based books
YoY +33.6 %
Composition ratio :
16%
Rights licensing sales
YoY -6.7 %
Composition ratio : 7%
E-books
YoY +9.4 %
Composition ratio:
39%
Other subsidiaries,
etc.
YoY -11.1 %
Composition ratio :
11 %
Domestic paper
International paper
E-books
■ N e t sa l e s ■ O p e ra ti ng p rof i t
( U n i t : M i l l i o n y e n )

8
Overview of Business Performance – Publication / IP Creation Segment
(1Q Factors for Increase /Decrease in Operating Profit)
◆ Pu b l i c a t i o n / I P C r e a t i o n S e g m e n t o p e ra t i n g p r o f i t : Yo Y + 2 , 1 5 4 M
FY25 1Q
Operating profit
KADOKAWA non -consolidated Domestic paper -based books/information mediaMarginal profit increase
International
paper -based books
FY26 1Q
Operating profit
Investment expenses Domestic paper – based books/ information media Main Group companies
Rights -licensing sales
E-books
Other s
• In addition to steady growth at
existing bases, new bases also
drove profit growth.
• Despite a decline in sales, profit
increased due to an improvement
in the marginal profit rate.
• In addition to the effects of
business structural reforms
(including price revisions),
which materialized as expected,
the success of new releases also
contributed to the increase in
profit.
• The effect of price revisions was
approximately +1.0 billion yen.
• Profit increased mainly
due to the effects of
business structural
reforms and contributions
from hit titles.
-967
million yen
1,187
million yen
• Personnel expenses
decreased compared to the
previous fiscal year.
• Investment in digital printing
plants and logistics facilities
decreased slightly.

9
9,896
12,478
137
-660 -800
0
800
1,600
2,400
3,200
4,000
-3,000
0
3,000
6,000
9,000
12,000
15,000
FY2025 FY2026
Business Overview – Animation /Film Segment
• I n A n i m a t i o n , s a l e s i n c r e a s e d a s n e t s a l e s f r o m Tra n s m e d i a d e v e l o p m e n t i n b o t h
d o m e s t i c a n d i n t e r n a t i o na l m a r ke t s g r e w s t e a d i l y, d r i v e n p r i m a r i l y b y p o p u l a r
s e r i e s s u c h a s Re : Ze r o – S t a r t i n g L i f e i n A n o t h e r Wo r l d a n d C l a s s r o o m o f t h e
E l i t e , a s w e l l a s n e w a n i m e t i t l e s l i ke T h e Wa r r i o r P r i n c e s s a n d t h e B a r b a r i c K i n g .
• I n F i l m , s a l e s i n c r e a s e d , l e d b y t h e s t u d i o b u s i n e s s , d e s p i te m u l t i p l e n e w
t h e a t r i c a l r e l e a s e s a n d n e t s a l e s f r o m Tra n s m e d i a d e v e l o p m e n t i n t h e s a m e
p e r i o d o f t h e p r e v i o u s y e a r.
Net sales: +26.1 % / +2,581M
1Q YoY Analysis
• P r o f i t f o r t h e s e g m e nt a s a w h o l e d e c l i n e d, l a r g e l y d u e t o t h e i m p a c t o f t h e
o n g o i n g s u r g e i n a n i m a t i o n p r o d u c t i o n c o s t s .
• W h i l e s a l e s f r o m F i l m i n c r e a s e d s i g n i f i c a n tl y, p r o f i t r e m a i n e d f l a t d u e t o f a c t o r s
s u c h a s a d e c l i n e i n s a l e s f r o m h i g h -m a r g in Tra n s m e d i a d e v e l o p m e n t
Operating profit: – / -797M
1Q
(Apr. -Jun.)
Outlook for 2Q and Beyond
• I n A n i m a t i o n , t h e n u m b e r o f t i t l e s f o r w h i c h t h e c o m p a n y s e r v e s a s l e a d m a n a g e r
o r c o -m a n a g e r i s e x p e c t e d t o i n c r e a s e b o t h Q o Q a n d Yo Y. A n t i c i p a t i n g t h a t t h i s w i l l
l e a d t o a n e x p a n s i o n i n s a l e s a m o u n t , w e a i m t o a c h i e v e i t s i n i t i a l f o r e c a s t f o r t h e
f i s c a l y e a r
• I n F i l m , w e a i m s a l e s a n d p r o f i t g r o w t h b y t h e h i t s f r o m t h e n e w t h e a t r i c a l r e l e a s e s
M a t c h e d T R U E LO V E ( S e p t e m b e r 2 0 2 6 ) a n d T h e G a t e o f M u r d e r ( F e b r u a r y 2 0 2 7 ) .
• T h e e f f e c t o f r e d u c i n g f i x e d c o s t s t h r o u g h t h e s p e c i a l e a r l y r e t i r e m e n t p r o g ra m i s
e x p e c t e d t o b e a p p r ox i m a t e l y 0 . 2 b i l l i o n y e n s t a r t i n g i n 2 Q.
■ N e t sa l e s ■ O p e ra ti ng p rof i t
Animation
YoY +27.4 %
Composition ratio: 7 1%
Film
YoY +22.8 %
Composition ratio: 29 %
( U n i t : M i l l i o n y e n )

10
8,655
5,418
3,379
1,390
0
2,000
4,000
6,000
8,000
10,000
0
2,000
4,000
6,000
8,000
10,000
FY2025 FY2026
Business Overview – Gaming Segment
• W h i l e r e p e a t s a l e s o f t i t l e s s u c h a s E L D E N R I N G r e m a i n e d s t e a d y, r e v e n u e
d e c l i n e d c o m p a r e d t o t h e p r e v i o u s p e r i o d , w h i c h s a w a s i g n i f i c a n t c o n t r i b u t i o n
f r o m t h e E L D E N R I N G N I G H T R E I G N ( m a i n g a m e ) .
Net sales: -37.4% / -3,236M
1Q YoY Analysis
O pe ra t i ng prof i t : -21. 3 % / -2, 795M ( 4Q +44. 0% / +1, 436M)
• O p e ra t i n g p r o f i t d e c l i n e d d u e t o t h e l o w e r s a l e s d e s c r i b e d a b ov e .
Operating profit: -58.8 % / -1,988M
1Q
(Apr. -Jun.)
Outlook for 2Q and Beyond
• F r o m S o f t wa r e w i l l r e l e a s e E L D E N R I N G Ta r n i s h e d E d i t i o n ( A u g u s t 2 8 , 2 0 2 6 ) , a s
w e l l a s a c o m p l e t e l y n e w t i t l e T h e D u s k b l o o d s ( 2 0 2 6 ) . We w i l l w o r k t o f u r t h e r
e x p a n d t h e f a n b a s e g l o b a l l y.
• S p i ke C h u n s o f t w i l l r e l e a s e m u l t i p l e n e w t i t l e s , i n c l u d i n g S u p e r D a n g a n r o n p a 2 x 2
( e a r l y 2 0 2 7 ) .
• T h e r e l e a s e o f n e w m o b i l e g a m e s u t i l i z i n g K A D O K AWA ‘s a n i m a t i o n I P i s p l a n n e d ,
i n c l u d i n g KO N O S U B A : G o d ‘ s B l e s s i n g o n T h i s Wo n d e r f u l Wo r l d !
■ N e t sa l e s ■ O p e ra ti ng p rof i t
For consoles and PCs
New works
YoY -95.8 %
Composition ratio : 2%
For consoles and PCs
Repeat
YoY -2.2 %
Composition ratio : 20 %
For consoles and PCs
Royalty
YoY -45.5 %
Composition ratio: 30 %
Others
YoY +13.5 %
Composition ratio: 48 %
( U n i t : M i l l i o n y e n )

11
5,355 5,370
690 593
0
500
1,000
1,500
2,000
2,500
3,000
0
1,000
2,000
3,000
4,000
5,000
6,000
FY2025 FY2026
Business Overview – Web Services Segment
Net sales: +0.3 % / +15M
1Q YoY Analysis
• I n n i c o n i c o -r e l a t e d b u s i n e s s e s , a l t h o u g h t h e n u m b e r o f p a i d m e m b e r s d e c r e a s e d ,
r e v e n u e r e m a i n e d f l a t d u e t o f a c t o r s s u c h a s a n i n c r e a s e i n v i s i t o r s a t N i c o n i c o
C h o k a i g i 2 0 2 6 a n d h i g h e r r e v e n u e f r o m s p o n s o r e d e x h i b i ts .
• I n t h e L i v e b u s i n e s s , r e v e n u e i n c r e a s e d d u e t o h i g h e r s a l e s f r o m e v e n ts h e l d
u n d e r c o n t ra c t f o r o t h e r c o m p a n i e s .
• I n t h e m o b i l e b u s i n e s s , s a l e s d e c l i n e d d u e t o o n g o i n g c o n t ra c t i o n .
• I n a d d i t i o n t o t h e i m p a c t o f h i g h e r I T i n f ra s t r u c tu r e c o s t s i n n i c o n i c o -r e l a t e d
b u s i n e s s e s c o m p a r e d t o t h e p r e v i o u s p e r i o d , t h e L i v e b u s i n e s s i n c u r r e d
i n v e s t me n t c o s t s f o r d e v e lo p i n g c r e a t o r s , i n c l u d i n g m u s i c j e n r e , r e s u l t i n g i n a
d e c r e a s e i n ov e ra l l s e g m e nt p r o f i t . ( I T i n f r a s t r u c t u r e c o s t s a r e e x p e c t e d t o d e c r e a s e i n
2 Q a n d f o r t h e f u l l f i s c a l y e a r . )
Operating profit: -14.0 % / -96M
1Q
(Apr. -Jun.)
Outlook for 2Q and Beyond
• I n t h e n i c o n i c o -r e l a t e d b u s i n e s s e s , m o n t h l y f e e s f o r p r e m i u m m e m b e r s h ip (f r o m
7 9 0 y e n to 9 9 0 y e n ) a n d p a i d n i c o n i c o c h a n n e l p l a n s w e r e ra i s e d i n A u g u s t, a n d
t h e e f f e c ts o f t h i s i n c r e a s e w i l l b e g i n t o m a t e r i a l i z e s t a r t i n g i n 2 Q. We a r e a l s o
c o n t i n u o u s l y d r i v i n g s e r v i c e e x p a n s io n t o i n c r e a s e t h e n u m b e r o f u s e r s a n d
o p t i m i z i n g c o s t s a c r o s s t h e e n t i r e b u s i n e s s .
• I n t h e L i v e b u s i n e s s , a l t h o u g h A n i m e l o S u m m e r L i v e wa s h e l d i n 2 Q, r e v e n u e
c o n t r i b u t i o n i s e x p e c te d t o d e c r e a s e y e a r -on -y e a r d u e t o t h e t e m p o ra r y
r e d u c t i o n i n v e n u e s i z e t h i s f i s c a l y e a r.
■ N e t sa l e s ■ O p e ra ti ng p rof i t
niconico
YoY +0.3 %
Composition ratio : 83 %
Live
YoY +10.4 %
Composition ratio: 1 0%
Mobile
YoY -10.1 %
Composition ratio : 8%
( U n i t : M i l l i o n y e n )

12
4,388
4,789
858
895
0
300
600
900
1,200
1,500
0
1,000
2,000
3,000
4,000
5,000
FY2025 FY2026
Business Overview – Education /EdTech Segment
• S a l e s i n c r e a s e d d u e t o a n i n c r e a s e i n t h e n u m b e r o f s t u d e n t s .
• At Vantan , student numbers are showing strong growth, driven by the opening of Vantan Music
Academy in April 2026, and the expansion of service areas.
• In the N High School Group, student numbers increased by 8% due to the opening of new
campuses for the Commuter Course and the ongoing expansion of educational content. The
second cohort of students at ZEN University, which opened in April 2025, contributed
significantly to the increase in student numbers (approximately 7,000 students as of May 2026) .
Net sales: +9.1 % / +401M
1Q YoY Analysis
• I n t h e N H i g h S c h o o l G r o u p / Z E N U n i v e r s i t y b u s i n e s s , a l t h o u g h i n i t i a l c o s t s
r e l a t e d t o s e t t i n g u p V R l e a r n i n g e n v i r o n m e n ts f o r s t u d e n t s a n d a d ve r t i s i n g
e x p e n s e s i n c r e a s e d c o m p a r e d t o t h e p r e v i o u s p e r i o d , ov e ra l l p r o f i t r o s e s l i g h t l y
d u e t o s t r o n g p e r f o r m a n c e g r o w t h a t Va n t a n .
Operating profit: +4.3 % / +36M
1Q
(Apr. -Jun.)
Outlook for 2Q and Beyond
• S t u d e n t n u m b e r s a r e e x p e c te d t o c o n t i n u e i n c r e a s i n g s t e a d i l y, a n d t h e b u s i n e s s
i s p r o j e c t e d t o g r o w c o n t i n u o u s l y.
• At Vantan , increased investment is anticipated starting in 2Q, to drive student numbers growth in the
next fiscal year and beyond. ZETA DIVISION GAMING ACADEMY (an e -sports school) and Vantan Foreign
Language & Hotel Tourism Academy will open in April 2027.
• In the N High School Group/ZEN University business, high growth is expected to continue due to the
steady increase in student numbers.
■ N e t sa l e s ■ O p e ra ti ng p rof i t
Vantan
YoY +5. 4%
Composition ratio: 66%
For N High School Group /ZEN University
YoY +17.3 %
Composition ratio: 34%
( U n i t : M i l l i o n y e n )

13
3,375 3,472
-1,022 -1,107
-1,500
0
1,500
3,000
4,500
-1,500
0
1,500
3,000
4,500
FY2025 FY2026
Business Overview – Others Segment
• I n t h e M D b u s i n e s s , s a l e s d e c r e a s e d p r i m a r i l y d u e t o a s h i f t i n t h e t i m i n g o f
c e r t a i n p r o d u c t s s a l e s .
• I n t h e Re c r e a t i o n b u s i n e s s , s a l e s d e c r e a s e d d u e t o t h e w i t h d ra wa l f r o m
u n p r o f i t a b l e b u s i n e s s e s i n 4 Q o f t h e p r e v i o u s f i s c a l y e a r, a n d t h e t ra n s f e r o f
p a r t s o f t h e o r g a n i z a t i o n .
• S a l e s i n c r e a s e d a t o t h e r s u b s i d i a r i e s , e t c ., m a i n l y d r i v e n b y h i g h e r r e v e n u e a t
V i r t u a l C a s t I n c ., w h i c h d e v e l o ps V R s y s t e m s, a n d t h e e f f e c ts o f c o n s o l i d a t i o n o f a
s u b s i d i a r y t h a t j o i n e d t h e G r o u p i n t h e p r e v i o u s f i s c a l y e a r.
Net sales: +2.9 % / +97M
1Q YoY Analysis
• I n t h e M D b u s i n e s s , d e s p i t e s o a r i n g p r o d u c t i o n c o s t s , t h e c o m p a n y m a i n t a i n e d
f l a t i n p r o f i t t h r o u g h c o s t e f f i c i e n c y i m p r ov e m e n t s
• I n t h e Re c r e a t i o n b u s i n e s s , t h e d e f i c i t n a r r o w e d d u e t o t h e e f f e c ts o f
w i t h d ra w i n g f r o m u n p r o f i t a b l e b u s i n e s s e s a n d o n g o i n g c o s t c o n t r o l .
• D e s p i t e a b ov e f a c t o r s , p r o f i t f o r t h e s e g m e n t a s a w h o l e d e c r e a s e d d u e t o t h e
i m p a c t o f i n c r e a s e d e x p e n s e s a t s o m e s u b s i d i a r i e s .
Operating profit: – / -85M
1Q
(Apr. -Jun.)
Outlook for 2Q and Beyond
• I n t h e M D b u s i n e s s , w e w i l l a l s o e x p l o r e p r i c e a d j u s t m e n ts i n r e s p o n s e t o r i s i n g
c o s t s a n d s t r i v i n g t o i m p r ov e p r o f i t m a r g i n .
• I n t h e Re c r e a t i o n b u s i n e s s , w e e x p e c t t o i m p r ov e p r o f i t a b i l i ty g o i n g f o r wa r d
t h r o u g h c o s t c o n t r o l a n d o p t i m i z a t i o n o f o p e ra t i o n a l s t r u c t u r e s .
• T h e e f f e c t o f r e d u c i n g f i x e d c o s t s t h r o u g h t h e s p e c i a l e a r l y r e t i r e m e n t p r o g ra m i s
e x p e c t e d t o b e a p p r ox i m a t e l y 0 . 1 b i l l i o n y e n s t a r t i n g i n 2 Q.
■ N e t sa l e s ■ O p e ra ti ng p rof i t
MD
YoY -12.3 %
Composition ratio: 3 3%
Recreation
YoY -6.9 %
Composition ratio: 3 1%
Other subsidiaries, etc.
YoY +37.4 %
Composition ratio: 36 %
( U n i t : M i l l i o n y e n )

Consolidated Earnings Forecasts
for the Fiscal Year Ending March 31, 2027

15
• In 1Q, progress in each business segment was generally smooth and in line with expectations.
• Net prof it has been revised downward due to posting of an extraordinar y losses of approximately
5.4 billion yen in 1Q in connection with the implementation of the special early retirement
program. Although we expect f ixed cost reductions of approximately 1.1 billion yen star ting in
2Q, we maintain our forecasts for operating prof it and ordinar y prof it at this time.
Consolidated Earnings Forecasts for the Fiscal Year Ending March 31, 2027
(Unit: Million JPY )
Results for the
fiscal year ended
March 31, 2026
Initial forecasts
for the fiscal year
ending
March 31, 2027
Revised forecasts
for the fiscal year
ending
March 31, 2027
Year on year
Initial forecasts
vs
Revised forecasts
Net sales 282,908 300,300 300,300 +17,391
(+6.1%)
－
Operating profit 8,102 10,100 10,100 +1,997
(24.7%)
－
Ordinary profit 11,701 12,000 12,000 +298
(+2.6%)
－
Profit attributable to
owners of parent 1,278 5,800 1,000 -278
(-21.8%)
-4,800
EBITDA
(Operating profit + depreciation +
amortization of goodwill)
17,600 20,100 20,100 +2,499
(+14.2%)
－

16
Consolidated Earnings Forecasts by Business Segment *N o c h a n g e s f r o m t h e i n i t i al fo r e c a s t s
(Unit: Million JPY)
Results for
the fiscal year ended
March 31, 202 6
Forecasts for
the fiscal year ending
March 31, 202 7
Year on year
(changed amount) Year on year (%)
Publication/
IP Creation
Net sales 155,634 159,300 +3,665 +2.4%
Operating profit 4,054 6,800 +2,745 +67.7 %
Animation/Film
Net sales 48,256 58,600 +10,343 +21.4%
Operating profit -465 500 +965 –
Gaming
Net sales 29,781 31,200 +1,418 +4.8%
Operating profit 7,541 4,500 -3,041 -40.3%
Web Services
Net sales 20,515 20,400 -115 -0.6%
Operating profit 2,117 2,000 -117 -5.5 ％
Education/EdTe
ch
Net sales 17,166 19,600 +2,433 +14.2%
Operating profit 2,844 3,200 +355 +12.5%
Others
Net sales 17,031 17,200 +168 +1.0 %
Operating profit -3,966 -2,800 +1,166 –
Corporate/
Eliminations
Net sales -5,476 -6,000 -523 –
Operating profit -4,024 -4,100 -75 –

Major KPIs of the Mid – term Management Plan

18
1,192 1,165
1,329
1,424
1,512
6,506 7,182
0
2
4
6
8
10
12
0
200
400
600
800
1,000
1,200
1,400
1,600
FY25 FY26 FY25 FY26 FY25 FY26 FY25 FY26
1Q 2Q 3Q 4Q
Number of new titles published
Production value per new title (thousand yen) 33.7%
28.9%
29.4%
25.6%
29.7%
1Q 2Q 3Q 4Q
FY2025
FY2026
Number of New Titles Published and Return Rate in the Domestic Publication Business:
Net Sales Trends (KADOKAWA non -consolidated)
Properly controlling the number of new titles published
Plan to maintain at approx. 98% of the previous year’s
level from FY2026 onward
Reducing the return rate by optimizing
number of copies, etc.
Target return rate: Reduce to 25% by FY2031
• The number of new titles published is generally in line with plan
(down 2.3% YoY).
• The effects of optimizing number of copies are beginning to
materialize, and output per title has increased (up 10.4% YoY).
The quarter -on -quarter decline in 1Q was due to
seasonal factors.
Steady year -on -year improvement mainly driven by
strong shipments and optimized number of copies.
YoY-4.0pt

19
Domestic Publication Business Title Portfolio (KADOKAWA non -consolidated)
• Over the past three years, Top Tier and Core Tier works have
decreased, while Base Tier works have increased.
• During this period, the Publication/IP Creation segment’s operating
profit also declined.
• In response to this, under the new mid -term management plan, we
will continue to take on challenges while thoroughly managing
profitability to curb the Base Tier and further strengthen the work
portfolio. At the same time, we will strategically develop and
nurture Core Tier works to increase the number of Top Tier works
in the future.
19.8% 23.0% 25.5%
71.1% 68.3% 66.7%
9.2% 8.7% 7.8%
0%
20%
40%
60%
80%
100%
FY2023 FY2024 FY2025
Tier trends from FY2023 -2025
Top Tier
Core Tier
Base Tier
Increase the ratio of “Top Tier” and “Core Tier” titles
27.1% 24.2%
68.2%
63.3%
4.7% 12.5%
0%
20%
40%
60%
80%
100%
FY2025
1Q
FY2026
1Q
FY2026 Q1 tier results
Top Tier
Core Tier
Base Tier
• In Q1 of FY2026, the proportion of Top Tier works
increased.
• The Core Tier, representing the volume zone, was
maintained.
• The Base Tier was curbed.

20
Initiatives to Improve the In -house Production Rate in the Animation Business
Establish the Group’s own
unique, integrated HR
development ecosystem
Group studios
Produce human
resources
Orders production work
Other various
educational institutions
Collaboration
Animation HR development system
In -house production and production efficiency improvements at Group studios,
creation of high -quality works, and enhancement of studio brands
In -house production rate target: increase to 50% by FY2031
(FY2026 forecast: Approximately 19%)
⚫ Implementing the Studio One Base project to
consolidate five Group studios and accelerate the
streamlining of back -office functions and operations
(scheduled for fall 2026)
⚫ Combines the latest facilities and a step –
by -step learning curriculum, supporting
efficient and systematic skill
development and driving original
research and development related to
production.
⚫ Simultaneously develops
human resources and
strengthens the production
capabilities of the entire
Group. Contributes to
higher in -house
animation production
rate, stable production
infrastructure, and
higher quality

21
0
3,000
6,000
9,000
12,000
15,000
FY25 FY26 FY25 FY26 FY25 FY26 FY25 FY26
1Q 2Q 3Q 4Q
Production studio subsidiaries, others
Other international licensing
International streaming
Other domestic licensing
Domestic streaming
Trends in Animation Business Net Sales (Net Sales from Transmedia Development)
8,827
YoY+27.4 % 
(Million JPY )
YoY+26.5 %
Net sales from
Transmedia development
*Revenue from rights,
excluding production contracts, etc.
Establishing and strengthening diversified revenue sources and maximizing IP value
Target for net sales from Transmedia development: Expand 1.9x from FY2025 to FY2031
In Q1, net sales from Transmedia
development grew significantly for
both popular series and new anime
titles, leading to an increase in
revenue for the business as a whole

Appendix

23
Publication /IP Creation Segment
480
650
3,040
2,550
1,250
1,630
0
2,000
4,000
6,000
8,000
10,000
12,000
1Q 2Q 3Q 4Q 1Q
FY2025 FY2026
Net sales of regular paperbacks (left axis)
Net sales of light novels (left axis)
Net sales of comics (left axis)
Net sales of general books and pocket editions (left axis)
Net sales of children’s books (left axis)
Net sales of magazines (left axis)
0%
5%
10%
15%
20%
25%
30%
35%
Return rate (right axis)
0
50,000
100,000
150,000
200,000
0
10,000
20,000
30,000
40,000
50,000
1Q 2Q 3Q 4Q 1Q
FY2025 FY2026
Net sales of paper-based books (left axis)
Net sales of e-books/magazines (left axis)
Net sales of paper-based magazines (left axis)
Accumulated e-book titles (right axis)
Sales trend of Publication /IP Creation Segment
Sales trend of paper -based
books /magazines and returns rate
(KADOKAWA Non -consolidated)
(Million JPY) (Titles)
198,275
*Accumulated e -book titles include the number of distribution by chapter
37,966 YoY+10.2% ▼
（ Million JPY ）
（Percentage)
29.7% YoY-4.0pt
YoY+17.6% ▼

24
Publication /IP Creation Segment
105
212
487
303
28112
212
0
500
1,000
1,500
2,000
1Q 2Q 3Q 4Q 1Q
FY2025 FY2026
Regular paperbacks Light novels
Comics General books/Pocket editions/Others
Children’s books Magazines
Born-digital IPs
Number of new IPs of paper -based books
and magazines by genre
1,459
YoY+2.4 ％▼
Titles contributing to sales
（Titles ）
*Total of IPs including Group companies’ and born -digital titles in addition to KADOKAWA non -consolidated paper -based books
©2026 EDIT
©Ao Kojima 2026
©Gin Shirakawa ©Eiko Mutsuhana, Yugiri Aica
Cosmic Princess Kaguya! Books Galore, Vol.3
The Five Star Stories,
Vol.19
Munousaijo Ha Akujo Ni
Naritai , Vol.4
(C)Colorido Twinengine Partners , (C)Naruto Kiriyama 2026

25
Publication /IP Creation Segment
E -books /magazines
0
40,000
80,000
120,000
160,000
200,000
0
4,000
8,000
12,000
16,000
20,000
1Q 2Q 3Q 4Q 1Q
FY2025 FY2026
Net sales of e-books/magazines (left axis)
Accumulated titles of ebooks (right axis)
198,275
Trend of net sales
0
400
800
1,200
1,600
1Q 2Q 3Q 4Q 1Q
FY2025 FY2026
Trend of international net sales
Net sales breakdown
(April to June)
Global usage situation (MPU)
Comic
79 %
Other
21 %
130
150
170
1Q 2Q 3Q 4Q 1Q
FY2025 FY2026
14,764 YoY+9.4 ％
(Million JPY) (Million JPY)
(Thousand people)
YoY+40.8 ％ ▼
YoY-1.4 ％▼
*Accumulated titles of ebooks include the number of distribution by chapter
*MPU (Monthly Paid User)

26
Animation /Film Segment
Titles contributing to sales The number of animation titles
©Tappei Nagatsuki,KADOKAWA/Re:ZERO4 PARTNERS ©Syougo Kinugasa,PUBLISHED BY KADOKAWA CORPORATION/YOUZITSU4 PARTNERS
©KOTOBA NORIAKI, KODANSHA/”THE WARRIOR PRINCESS AND THE BARBARIC KING” Production Committee.
©Harunadon /KADOKAWA/Even a Replica Can Fall in Love Partners
Classroom of the Elite 4th
Season: Second Year,
First Semester
Re:ZERO -Starting Life in Another World -Season 4
The Warrior Princess and
the Barbaric King
Even a Replica Can Fall in
Love
6
12
6
11
8
4
8
7
8
9
1Q 2Q 3Q 4Q 1Q
FY2025 FY2026
Minor investment titles, etc.
Titles for which the Company serves as lead or co-lead manager
10 18 7 16 14
– 2 4 3 2
– – 2 – 1
Breakdown
by media
TV
Theater
Others

27
20.0%
40.0%
60.0%
80.0%
0
4,000
8,000
12,000
16,000
1Q 2Q 3Q 4Q 1Q
FY2025 FY2026
Animation: In-house licensing sales (Internal transaction)
Publication: In-house licensing sales (Internal transaction)
Animation: Licensing sales to other companies (External transaction)
Publication: Licensing sales to other companies (External transaction)
OP margin in total
Sales and Operating Margin of Rights -Licensing in Publication and Animation Businesses
（ K A D O K AWA N o n -c o n s o l i d a t e d ）
Yearly basis Quarterly basis
(Million JPY) （ Million JPY ）
* The operating margin related to rights -licensing sales is a managerial accounting figure estimated based on certain definitions. This figure is higher than
actual because many expenses are not taken into account, such as costs related to IP creation and costs from back -office departm ents.
YoY+13.0 ％ ▼
20.0%
40.0%
60.0%
80.0%
0
12,000
24,000
36,000
48,000
FY2022 FY2023 FY2024 FY2025 FY2026
1Q
Animation: In-house licensing sales (Internal transaction)
Publication: In-house licensing sales (Internal transaction)
Animation: Licensing sales to other companies (External transaction)
Publication: Licensing sales to other companies (External transaction)
OP margin in total

28
Net Sales of the Top Ten Best -Selling Titles （ i n c lu d i n g s a l e s f r o m r i g h t s -l i c e n s i n g , K A D O K AWA N o n -c o n s o l i d a t e d ）
FY2026 1Q
Publication /IP Creation
Animation /Film
* Applies to entire series from starting year of publication to the latest release
* Applies to all titles from starting year of broadcast to the latest airing
Million JPY
Rank Title Name (Series) Year First
Aired
1 Re:ZERO -Starting Life in Another World –
series 2016
2 Classroom of the Elite 2016
3 The Warrior Princess and the Barbaric King 2026
4 Even a Replica Can Fall in Love 2026
5 Bungo Stray Dogs series 2016
6 The Risig of the Shield Hero series 2019
7 Overlord series 2015
8 【OSHI NO KO 】 2023
9 A Hundred Scenes of AWAJIMA 2026
10 The Eminence in Shadow 2022
Rank Title Name (Series) Year First
Published
1 Re:ZERO -Starting Life in Another World –
series 2014
2 Cosmic Princess Kaguya! 2026
3 Pan Dorobou series 2020
4 The Five Star Stories 1987
5 Sword Art Online series 2009
6 KADOKAWA Manga Gakushu Series 2015
7 Fate series 2004
8 Project Love Live! 2012
9 Delicious in Dungeon 2015
10 The Eminence in Shadow 2018
0 500 1,000 1,500
Re:ZERO -Starting Life in Another World-
series
Classroom of the Elite
The Warrior Princess and the Barbaric King
Even a Replica Can Fall in Love
Bungo Stray Dogs series
The Eminence in Shadow
PANDOROBO series
Overlord series
Kusunoki’s Garden of Gods
The Rising of the Shield Hero series
Publication/IP Creation Segment (Books and Magazines)
Publication/IP Creation Segment (Rights-licensing and others)
Animation/Film Segment
Gaming Segment, Others

29
Eagerly Awaited Upcoming Titles
Books Animation
©2019 FromSoftware, Inc. All rights reserved. ACTIVISION is a trademark of Activision Publishing Inc. All other trademarks and trade names are the properties of their respective owners.
©Carlo Zen,PUBLISHED BY KADOKAWA CORPORATION/Saga of Tanya the Evil2 PARTNERS
©Eri Ejima /KADOKAWA/Young Ladies Don’t Play Fighting Games Partners ©Yuji Iwahara /LDF/ CLEVATESSⅡ Project
CLEVATESS Ⅱ
Sekiro: No Defeat The Saga of Tanya the
Evil2
Young Ladies Don’t Play
Fighting Games
©Virginia -Nitouhei 2026 ©Natsuya Semikawa , Kururi ／TAKARAJIMASHA
(C)Odayaka, Kureha, Bodax 2026
©Himari Hino 2026 ©Oriko Sakura 2026
Pan Dorobou , Vol.8
OTHERWORLDLY
IZAKAYA 「NOBU 」, Vol.22
Bride of the Barrier
Master, Vol.8
Four Child Life Vol.23
Big Trouble!? A Heart –
Pounding Open Class Day

30
Gaming Segment
Trend of sales of Gaming segment Titles contributing to sales
Downloadable Content
“SHADOW OF THE ERDTREE”
for “ELDEN RING”
FY2025 FY2026
1Q 2Q 3Q 4Q 1Q
Number of newly released
titles for consoles and PCs 2 5 1 0 4
Total number of copies sold
(million copies) 1.81 1.48 2.50 2.17 1.09
Eagerly awaited upcoming titles
0
5,000
10,000
1Q 2Q 3Q 4Q 1Q
FY2025 FY2026
New Titles for consoles and PCs Repeat sales for consoles and PCs
Royalties for consoles and PCs Other
5,419YoY-37.4 ％▼
©Bandai Namco Entertainment Inc. / ©2024 FromSoftware, Inc.
©Bandai Namco Entertainment Inc. / ©2022 FromSoftware , Inc.
“ELDEN RING”
“ELDEN RING NIGHTREIGN” ©Bandai Namco Entertainment Inc. / ©2025 FromSoftware, Inc.
※Total number of titles and copies sold by Group Companies themselves in any region
“The Duskbloods ”
Releasing Worldwide in 2026
©2025 FromSoftware, Inc. All rights reserved.
“Danganronpa 2×2”
©Spike Chunsoft Co., Ltd. All Rights Reserved.

31
Community Platform Related Business (N i c o n i c o a n d Fa n -c o m m u n ity B u s i n e s s )
Niconico user data Niconico Channel user data
Age
Fan -community service 「sheeta 」
Regular members (Million) 109.78
Premium members (Thousand) 893
Number of channels 11,972
Number of channels with monthly fee 2,574
Dues -paid members ( Thousand ) 982
*As of June 30, 2026
1.7%
17.5% 37.0% 22.5% 14.0% 7.2%
0% 20% 40% 60% 80% 100%
10s 20s 30s 40s 50s Others
Niconico Chokaigi 2026
Visitors (Thousand) 138
*As of June 30, 2026
*As of June 30, 2026
Number of channels with monthly fee
Dues -paid members ( Thousand )
280
304
*As of June 30, 2026

32
Education /EdTech Segment
Trend of Number of N High School Group Students Trend of Number of Vantan Students
0
10,000
20,000
30,000
40,000
1Q 2Q 3Q 4Q 1Q
FY2025 FY2026
(Students ) 35,224
Number of
enrolled students
(As of June 2026) 9,886
Number of
enrolled students
(As of April 2026)
0
5,000
10,000
FY2023
April
FY2024
April
FY2025
April
FY2026
April
(Students )
YoY+8 ％▼
YoY+8 ％▼

33
International Net Sales
Breakdown of International Net Sales by Segment
Americas 52.9 ％ 54.9 ％ 45.6 ％ 53.7 ％ 50.1 ％
Asia 36.0 ％ 31.9 ％ 39.3 ％ 35.7 ％ 35.8 ％
Others 11.1 ％ 13.2 ％ 15.2 ％ 10.6 ％ 14.1 ％
B r e a k d o w n
b y r e g i o n
Animation/Film Gaming
Others Publication/IP Creation
(Million JPY)
* Business results for international subsidiaries are reflected in KADOKAWA’s consolidated financial results on a three -month de lay.
292 322 313 1,185 268
6,138 6,738 7,693
8,674
7,869
2,648
3,217 1,637
5,970
3,309 3,230
4,390
2,902
2,863
2,214
0
5,000
10,000
15,000
20,000
FY2025 1Q 2Q 3Q 4Q FY2026 1Q
12,309
14,669
12,547
13,661
YoY
+11.0 ％
18,694

34
Capital Investment and Depreciation
Capital Investment* Depreciation
2,735
1,353
3,080
6,773
2,330
7,550
0
5,000
10,000
15,000
FY2025 FY2026 1Q FY2026
(Forecast)
10,630
■ Purchase of property, plant and equipment
■ Purchase of intangible assets
9,509
(Million JPY)
8,684
2,128
10,000
0
2,000
4,000
6,000
8,000
10,000
FY2025 FY2026 1Q FY2026
(Forecast)
(Million JPY)
* “Capital investment” is a cash -based amount. It is the total of “purchase of property, plant and equipment” and “purchase of int angible assets” listed in the consolidated statement of cash
flows, and includes consideration for non -current assets acquired in the previous fiscal year (Fiscal Year n -1) for which expend itures were made in the current fiscal year (Fiscal Year n).
3,684

35
FAQ
Q03
A
T h e g r o w t h r a t e o f s a l e s e x c l u d i n g t h e i m p a c t o f f o r e i g n e x c h a n g e ( a p p r o x i m a t e l y + 1 . 1 b i l l i o n J P Y ) w a s + 3 . 6 % i n t h e A p r i l t o
J u n e p e r i o d .
A s s a l e s f r o m r i g h t s -l i c e n s i n g ( r o y a l t i e s ) a c c o u n t s f o r a c e r t a i n p e r c e n t a g e o f i n t e r n a t i o n a l s a l e s , w e b e l i e v e t h a t c o s t s
a f f e c t e d b y f o r e i g n e x c h a n g e r a t e s a r e l i m i t e d , b u t s i n c e i t i s d i f f i c u l t t o i d e n t i f y t h e s e c o s t s a c c u r a t e l y , w e h a v e n o t e s t i m a t e d
t h e i r i m p a c t o n p r o f i t .
Q01
A
W h a t wa s t h e i m p a c t o f f o r e i g n e x c h a n g e ra t e s f r o m A p r i l t o J u n e o f t h e c u r r e n t f i s c a l y e a r ? A d d i t i o n a l l y, w h a t wa s
t h e g r o w t h ra t e f o r s a l e s a n d o p e ra t i n g p r o f i t e xc l u d i n g t h e f o r e ig n e x c h a n g e i m p a c t ?
T h e f o r e i g n e x c h a n g e i m p a c t o n s a l e s i n t h e p a p e r -b a s e d b o o k b u s i n e s s e s o f i n t e r n a t i o n a l s u b s i d i a r i e s f r o m A p r i l t o J u n e w a s
a b o u t + 0 . 4 b i l l i o n y e n , a n d e x c l u d i n g t h i s , t h e s a l e s g r o w t h r a t e w a s a b o u t + 2 5 . 1 % .
Q02
A
W h a t wa s t h e i m p a c t o f f o r e i g n e x c h a n g e ra t e s o n t h e p a p e r -b a s e d b o o k b u s i n e s s e s o f i n t e r n a t i o n a l s u b s i d i a r i e s
f r o m A p r i l t o J u n e o f t h e c u r r e n t f i s c a l y e a r ? A n d w h a t i s t h e g r o w t h ra t e o f s a l e s e x c l u d i n g t h e e f f e c t o f e x c h a n g e
ra t e s ?
W e r e c e i v e d 1 5 4 a p p l i c a t i o n s f o r t h e p r o g r a m a n d r e c o r d e d a n e x t r a o r d i n a r y l o s s e s o f a p p r o x i m a t e l y 5 . 4 b i l l i o n y e n i n 1 Q o f
t h e f i s c a l y e a r e n d i n g M a r c h 3 1 , 2 0 2 7 .
W e e x p e c t t h i s t o r e s u l t i n a n n u a l p e r s o n n e l e x p e n s e s s a v i n g s o f a p p r o x i m a t e ly 1 . 7 b i l l i o n y e n g o i n g f o r w a r d . Fo r t h e f i s c a l
y e a r e n d i n g M a r c h 3 1 , 2 0 2 7 , w e f o r e c a s t c o s t s a v i n g s o f a p p r o x i m a t e l y 1 . 1 b i l l i o n y e n o v e r t h e e i g h t m o n t h s s t a r t i n g i n A u g u s t
( a p p r o x i m a t e l y 0 . 8 b i l l i o n y e n i n t h e P u b l i s h i n g / I P C r e a t i o n s e g m e n t , a p p r o x i m a t e ly 0 . 2 b i l l i o n y e n i n t h e A n i m a t i o n / F i l m
s e g m e n t , a n d a p p r o x i m a t e l y 0 . 1 b i l l i o n y e n i n t h e O t h e r s s e g m e n t ) .
W h a t w e r e t h e r e s u l t s o f t h e s p e c i a l e a r l y r e t i r e m e n t p r o g ra m a n n o u n c e d i n M ay 2 0 2 6 , a n d w h a t wa s i t s i m p a c t o n
c o n s o l i d a t e d f i n a n c i a l r e s u l t s ?

36
FAQ
Q04
A S h a r e b y g e n r e : C o m i c s 2 7 % , g e n e r a l b o o k s a n d p o c k e t e d i t i o n s 3 2 % , l i g h t n o v e l s 1 3 % , p a p e r b a c k b o o k s 1 7 % , c h i l d r e n ’ s
b o o k s 7 % , m a g a z i n e s 5 %
G r o w t h r a t e b y g e n r e : c o m i c s + 5 . 9 % , g e n e r a l b o o k s a n d p o c k e t e d i t i o n s + 1 5 . 5 % , l i g h t n o v e l s + 4 8 . 4 % , p a p e r b a c k b o o k s
+ 4 8 . 2 % , c h i l d r e n ’ s b o o k s + 6 . 3 % , m a g a z i n e s -1 5 . 6 % ( K A D O K A W A n o n -c o n s o l i d a t e d b a s i s ) .
Q05
A
F r o m A p r i l t o J u n e , w h a t w e r e t h e s h a r e s a n d g r o w t h ra t e s f o r p a p e r -b a s e d b o o k s a n d i n f o r m a t i o n m e d i a s a l e s b y
g e n r e ?
S a l e s o f p a p e r -b a s e d b o o k s w e r e a p p r o x i m a t e l y 8 0 % a n d s a l e s o f e -b o o k s w e r e a p p r o x i m a t e l y 2 0 % o f t h e t o t a l i n t e r n a t i o n a l
s a l e s o f t h e p u b l i c a t i o n s e g m e n t .
W h a t w e r e t h e ra t i o o f p a p e r -b a s e d b o o k s a n d e -b o o k s i n t h e i n t e r n a t i o n a l s a l e s o f t h e P u b l i c a t i o n / I P C r e a t i o n
S e g m e n t f r o m A p r i l t o J u n e ?
T h e s h a r e s f o r t h e t o p 1 0 b e s t s e l l e r s c o n s i s t e d o f 4 % i n t h e P u b l i c a t i o n / I P C r e a t i o n S e g m e n t a n d 3 0 % i n t h e A n i m a t i o n / F i l m
S e g m e n t .
Q06
A
F r o m A p r i l t o J u n e , w h a t w e r e t h e s a l e s s h a r e s o f t h e t o p 1 0 b e s t -s e l li n g t i t l e s i n t h e P u b l i c a t io n /I P C r e a t i o n
S e g m e n t a n d t h e A n i m a t i o n / F i l m S e g m e n t ?

37
FAQ
( 1 ) A t t h i s p o i n t w e h a v e y e t t o a n n o u n c e a s p e c i f i c r e l e a s e d a t e .
( 2 ) I t w i l l b e s o l d o n a j o i n t b a s i s w i t h N i n t e n d o C o . , L t d . , w i t h s a l e s r e s p o n s i b il i t i e s d i v i d e d b y r e g i o n .
( 3 ) T h e t i t l e w i l l o n l y b e a v a i l a b l e f o r t h e N i n t e n d o S w i t c h 2 .
( 4 ) W e d o n o t d i s c l o s e f o r e c a s t s r e g a r d i n g n u m b e r o f c o p i e s s h i p p e d f o r i n d i v i d u a l t i t l e s .
Q08
A
Re g a r d i n g D u s k b l o o d s , w h i c h i s s l a t e d f o r a 2 0 2 6 r e l e a s e :
( 1 ) W h a t i s t h e s p e c i f i c r e l e a s e d a t e ? ( 2 ) W h a t i s t h e s a l e s s c h e m e i n J a p a n a n d ov e r s e a s ?
( 3 ) W h a t p l a t f o r m s w i l l b e s u p p o r t e d ? ( 4 ) H o w m a n y c o p i e s d o y o u e x p e c t t o s e l l ?
It w i l l b e r e l e a s e d o n A u g u s t 28, 2 0 2 6 . W e d o n o t d i s c l o s e f o r e c a s t s r e g a r d i n g s a l e s o r n u m b e r o f c o p i e s s o l d f o r i n d i v i d u a l
t i t l e s .
Q07
A
W h e n i s t h e r e l e a s e d a t e f o r E L D E N R I N G Ta r n i s h e d E d i t i o n ? Is i t i n c l u d e d i n t h e o u t l o o k f o r t h e f i s c a l y e a r e n d i n g
M a r c h 3 1 , 2 0 2 7 ?

©KADOKAWA CORPORATION 202 6
• T h i s d o c u m e n t i s a t r a n s l a t i o n o f t h e o r i g i n a l J a p a n e s e d o c u m e n t a n d i s o n l y f o r r e f e r e n c e p u r p o s e s . I n t h e e v e n t o f a n y d i s c r e p a n c y b e t w e e n t h i s
t r a n s l a t e d d o c u m e n t a n d t h e o r i g i n a l J a p a n e s e d o c u m e n t , t h e l a t t e r s h a l l p r e v a i l .
• F o r w a r d -l o o k in g s t a t e m e n t s s u c h a s r e s u l t s f o r e c a s t s c o n t a in e d i n t h i s m a t e r i a l a r e j u d g m e n t s o f t h e G r o u p b a s e d o n c u r r e n t l y a v a i l a b l e i n f o r m a t i o n .
• T h e f o r w a r d -l o o k i n g s t a t e m e n t s i n c l u d e v a r i o u s u n c e r t a i n t i e s , a n d a c t u a l r e s u l t s m a y d i f f e r f r o m t h e s e v a l u e s . P l e a s e r e f r a i n f r o m m a k i n g i n v e s t m e n t
j u d g m e n t s , e t c . b y r e l y i n g e n t i r e l y o n t h e s e v a l u e s .