Kadokawa Corp FY2024 Q3 Earnings Release

Earnings Results
The 3 rd Quarter Ended December 31, 2024 ｜ February 6, 2025

Contents
1
1. Consolidated Earnings Results for the 3 rd Quar ter
for the Fiscal Year E nding March 3 1, 20 25 P2
2. Appendix P17

Consolidated Earnings Results for the 3 rd Quarter of the
Fiscal Year Ending March 31, 2025
2

3
Summary of Consolidated Earnings Results for the 3rd Quarter of the Fiscal Year Ending
March 31, 2025
• First nine months: net sales + 10.5 %, operating profit + 18.8 %, net profit + 16.7 %
The impact of reduced sales and profit due to a cyberattack (net sales: -8.1 billion yen, operating profit: -4.95 billion
yen) was absorbed by the growth of core businesses, and we achieved strong growth in sales and profit as a result.
➢ In Publication /IP Creation, the number of new IPs increased, enhancing the source of business value for the entire group. The decline in
sales and profit from domestic paper -based books due to the effects from the cyberattack, market contraction and other factors w as offset
by growth in e -books, international paper -based books and rights licensing sales, with both sales and operating profit growing a round 10%
in the segment overall
➢ In Animation, where we command a strong lineup of titles, significant contributions were made by domestic and international s tre aming, as
well as rights licensing sales for video games, merchandise and gaming machines, and we have made steady progress raising the po ssibility
of another year of record -high performance. In Film , rights licensing sales for streaming also performed strongly, and we achieved high
growth in the segment overall.
➢ In Gaming, both sales and operating profit achieved high growth of around 40%, thanks to DLC for ELDEN RING contributing to domestic
and international revenue.
➢ In Web Services, sales declined significantly, driven by falling sales in niconico related businesses, which lost sales from June to August due
to a cyberattack.
➢ In Education /EdTech, strong double -digit sales growth continued, benefitting from solid increases in student numbers at Vantan and the N/S
high schools, particularly at newly opened schools.
• 3rd Quarter (Oct. -Dec.): net sales + 11.9 %, operating profit + 10.2 %, net profit + 95.2 %
➢ All core businesses expanded, with consolidated sales maintaining the robust growth rate of around 10% seen so far.
➢ Operating profit declined in domestic paper -based books (market contraction, etc.), animation (promotional expenses, etc.) and w eb
services (IT infrastructure investments, etc.). However, this was offset by increased profits from e -books (increased sales to other
companies’ stores), international paper -based books (strong performance in Asia), gaming (contributions from DLC for ELDEN RING ) and
Education /EdTech (increased student enrollment), enabling us to secure increased profit on a consolidated basis.
➢ The extent of increases in ordinary profit and net profit expanded beyond that of operating profit due to foreign exchange gains.
• While the progress differs among segments, the previous full -year forecasts remain unchanged

4
Consolidated Earnings Results for the 3 rd Quarter of the Fiscal Year Ending March 31,
2025
EBITDA is the total of operating profit, depreciation and amortization of goodwill.(Unit: Million JPY) Apr.-Dec. 2023
Results
Apr.-Dec. 2024
Results
Year on year
(changed amount)
Oct.-Dec. 2023
Results
Oct.-Dec. 2024
Results
Year on year
(changed amount)
+10.5% +11.9%
(+19,563) (+7,450)
+18.8% +10.2%
(+2,503) (+481)
└ Operating margin 7.1% 7.7% +0.5pt 7.5% 7.4% -0.1pt
+28.5% +85.5%
(+3,818) (+3,436)
+16.7% +95.2%
(+1,052) (+2,082)
+18.8% +10.7%
(+3,412) (+700)
Net sales 187,024 206,587 62,817 70,267
Operating profit 13,334 15,838 4,730 5,211
Ordinary profit 13,408 17,226 4,019 7,455
Profit attributable to
owners of parent 6,313 7,366 2,188 4,270
EBITDA 18,122 21,534 6,526 7,227

5
Net Sales and Operating Prof it by Business Segment(Unit: Million JPY) Apr.-Dec. 2023
Results
Apr.-Dec. 2024
Results
Oct.-Dec. 2023
Results
Oct.-Dec. 2024
Results
Net sales 102,061 111,723 +9.5% (+9,661) 35,748 39,250 +9.8% (+3,501)
Operating profit 5,659 6,362 +12.4% (+703) 2,403 2,005 -16.6% (-398)
Net sales 32,824 37,921 +15.5% (+5,096) 10,792 11,490 +6.5% (+697)
Operating profit 3,616 4,705 +30.1% (+1,089) 1,111 1,064 -4.2% (-47)
Net sales 19,078 26,452 +38.6% (+7,373) 5,407 8,302 +53.5% (+2,894)
Operating profit 5,994 8,659 +44.5% (+2,664) 1,966 2,586 +31.6% (+620)
Net sales 16,082 13,369 -16.9% (-2,712) 5,081 5,039 -0.8% (-41)
Operating profit 1,067 -712 – (-1,780) 418 295 -29.4% (-123)
Net sales 9,795 11,319 +15.6% (+1,524) 3,092 3,661 +18.4% (+568)
Operating profit 1,558 2,264 +45.3% (+705) 391 816 +108.5% (+425)
Net sales 14,596 12,570 -13.9% (-2,025) 5,203 4,787 -8.0% (-415)
Operating profit -3,033 -3,212 – (-179) -1,107 -789 – (+317)
Net sales -7,414 -6,769 – (+645) -2,509 -2,263 – (+245)
Operating profit -1,528 -2,228 – (-699) -454 -767 – (-313)
Animation/Film
Year on year
(changed amount)
Year on year
(changed amount)
Publication/
IP Creation
Gaming
Web services
Corporate/
Eliminations
Education/EdTech
Others

6
(Unit: Million JPY)
Impact on the Full
Year
(Revised forecasts) Impact on 1Q
（ Results ）
Impact on 2Q
（ Results ）
Impact on 3Q
（ Results ）
Impact on 4Q
(Forecasts)
Impact on Net Sales -8,100 -2,600 -4,900 -550 -50
Publication /IP
Creation
(Domestic paper -based books)
-3,650 -1,350 -1,800 -500 –
Web Services -3,950 -1,250 -2,600 -50 -50
Others -500 – -500 – –
Impact on Operating Profit -4,950 -1,900 -2,750 -300 –
Publication /IP
Creation
(Domestic paper -based books)
-1,900 -800 -850 -250 –
Web Services -2,550 -1,100 -1,400 -50 –
Others -500 – -500 – –
Extraordinary Losses※ Losses related to compensation to creators on the niconico service and work to investigate the incident and restore systems
2,400 2,000 350 – 50
System Failure Caused by Large -scale Cyberattack: Impact on Business Performance

7
Operating profit: -21.3 ％ / -2,795M (4Q +44.0% / +1,436M)
102,061
111,723
35,748 39,250
5,659
6,362
2,403 2,005
0
2,000
4,000
6,000
8,000
10,000
12,000
0
20,000
40,000
60,000
80,000
100,000
120,000
FY2023 FY2024 FY2023 FY2024
Business Overview – Publication /IP Creation Segment
•Sales of domestic paper -based books declined. In addition to the ongoing contraction of the entire market, this
was due to factors including the decrease in shipments of existing books due to the cyberattack from early June
to mid -August. In 3Q, despite an increase in the number of new IPs, sales declined compared with the same
period in the previous fiscal year when some hit titles contributed, due to the effects of market contraction,
increased returns as an effect of stalled high -precisions shipments during the cyberattack period.
•E-books continued to perform strongly, both in the first nine months and 3Q (+12.4%) , mainly from sales to stores
of other companies. Even when the effects of changes to the timing of revenue recognition are excluded, growth
was in the high single digits in both the first nine months and 3Q .
•International paper -based books saw increased sales in the first nine months and 3Q , with 3Q sales rising 27.4 %.
Strong performance in Asia continue dto drive overall results.
•Rights licensing sales enjoyed a high growth rate of around 10% both in the first nine months and 3Q , with sales
for gaming machines among the contributing factors.
Sales: YTD +9.5% / +9,66 1 M (3Q +9.8% / +3, 501 M)
Factors for Increase /Decrease in the First Nine Months
•Growth drivers such as e -books, international paper -based books and rights licensing led to increased operating
profit as the segment overall. In 3Q , the decline in sales of domestic paper -based books had a significant impact,
driving down operating profit.
Domestic paper -based
books/information media
YoY -9.3%
Composition ratio: 27 ％
E-books
YoY +14.8%
Composition
ratio: 42 ％
International paper –
based books
YoY +19.3%
Composition ratio: 12 ％
Rights licensing
YoY +9.6%
Composition
ratio: 9％
Operating profit: YTD +12.4 ％ / + 70 3 M (3Q -16.6% / -398 M )
(Unit: Million JPY)
Year to Date
(Apr. -Dec.)
3Q
(Oct. -Dec.)
Net
sales
Operating
profit Other subsidiaries,
etc.
YoY +51.7%
Composition
ratio: 10 ％
•From the next fiscal year and beyond, we will strengthen IP creation functions, which are the source of the Global
Media Mix. We expect that our past investments in human resources will bear fruit and increases in the number
of new IPs will continue. We also project further enhancement to the comics genre.
•Through the continued strong performance of e -books and rights licensing sales, the scaling up of the
international paper -based books business including contributions from regions we have newly expanded into, and
enhanced productivity in the domestic paper -based books business from improved return rates, we will work to
improve profit margins across the segment in the medium -to long -term.
Future outlook
■ Net sales ■ Operating profit

8
Overview of Business Performance – Publication /IP Creation Segment
(Nine Months Factors for Increase /Decrease in Operating Prof it)
◆ Pu b l i c at i on / IP C re at i on S e g m e n t op e rat i n g p rof i t : YoY + 1 2 . 4 % / + 7 0 3 M
FY23 1 -3Q
Operating profit
KADOKAWA non -consolidated Domestic paper -based books/information media Impact of sales decrease International paper -based books
FY24 1 -3Q
Operating profit
Other expenses
•Office relocation -related expenses in
1Q of the previous fiscal year were a
factor in the higher profit.
•In addition to continued strong
performance in sales to stores of
other companies, changes to the
timing of revenue recognition
also had an effect, resulting in
robust growth
Main domestic Group companies(Information Media business)
•Growth driven by steady
performance in Asia
• Impact from the ongoing contraction
of the magazine business
•Impact from decline in sales
due to the cyberattack •Solid growth continued
5,659
million yen
6,36 2
million yen
Rights licensing
•Most attributable to the effect from increased bonus provisions in 2Q
Investment in human resources, mainly editors, increased, for medium -to long -term growth
•Investment in the comic book genre also increased year on year.
•Investment in digital manufacturing plants and new logistics facilities decreased year on year .
E-books
Investment expenses
KADOKAWA non -consolidated Domestic paper -based books/information media Increased material costs and logistics expenses, etc.
•Impact from increased costs
including sharply rising
logistics expenses and material
costs due to market conditions

9
Overview of Business Performance – Publication /IP Creation Segment
(3Q Factors for Increase /Decrease in Operating Profit)
◆ Pu b l i c at i on / IP C re at i on S e g m e n t op e rat i n g p rof i t : YoY -1 6 . 6 % / -398M
FY23 3Q
Operating profit
FY24 3Q
Operating profit
2,403
million yen
2,005
million yen
KADOKAWA non -consolidated Domestic paper -based books/information media Impact of sales decrease International paper -based books
Other expenses
•Increase in advertising expenses
to recover from the effects of the
cyberattack
•Achieved high growth due
to strongly performing
sales to stores of other
companies
Main domestic Group companies(Media business)
•Growth driven by
steady performance
in Asia
•In addition to the market contraction and
increased returns as an effect of stalled high –
precision shipments while the effects of the
cyberattack were ongoing, the absence of hit titles
that had been released at the same time the
previous fiscal year drove sales down
•Solid growth continued
Rights licensing
•Investment in human resources, mainly editors, increased, for
medium -to long -term growth
•Investment in the comic book genre also increased year on
year.
•Investment in digital manufacturing plants and new logistics
facilities decreased year on year.
E-books
Investment expenses
KADOKAWA non -consolidated Domestic paper -based books/information media Increased material costs and logistics expenses, etc.
•Impact from increased costs including
sharply rising logistics expenses and
material costs due to market conditions

10
Business Overview – Animation /Film Segment
•In Animation, strong growth continued, driven by rights licensing sales for popular series, both for domestic
and international streaming, as well as for games and merchandise. In 3Q , high growth (+9.7%) continued,
driven by the third season of Re:Zero -Starting Life in Another World , and the theatrical version of
OVERLORD: THE SACRED KINGDOM topping one billion yen in domestic box office sales.
•In Film ,sales increased both in the first nine months and 3Q (+0.6%) , mainly due to rights licensing sales for
the domestic streaming of the previous fiscal year’s theatrical titles and the international streaming of past
titles.
Net sales: YTD +15. 5 % / + 5, 096 M (3Q +6. 5 ％ / + 697 M )
Factors for Increase /Decrease in the First Nine Months
•Due to the sales increase as mentioned above , operating profit increased in both Animation and Film. In
3Q , profit decreased in Animation, in part reflecting proactive promotional investments aimed at the next
fiscal year and foreign exchange effects.
Animation
YoY+38.6 %
Composition ratio:73 ％
Film
YoY+7.9 %
Composition ratio:27 ％
Operating profit: YTD + 30.1 ％ / + 1,0 89 M (3Q -4.2 % / -47 M )
32,824
37,921
10,792 11,490
3,616
4,705
1,111 1,064
0
1,500
3,000
4,500
6,000
7,500
0
8,000
16,000
24,000
32,000
40,000
FY2023 FY2024 FY2023 FY2024
Future outlook
•In Animation, we will continue to advance initiatives to develop in -house production studios and aim to
improve the quality of titles while increasing the number of episodes produced. In the next fiscal year, we
again expect to achieve healthy sales from a diverse lineup that helps maximize the LTV of our IPs, including
first -time animated adaptations based on popular original works from KADOKAWA such as The Summer Hikaru
Died in addition to the latest iterations of popular series.
•In Film, a theatrical adaptation of the popular manga series My Love Story with Yamada -kun at Lv999 is
planned for a 4Q release. In the next fiscal year, we will aim to improve revenue with the release of multiple
in-house productions and KADOKAWA -distributed titles.
■ Net sales ■ Operating profit
Net
sales
Operating
profit (Unit: Million JPY)
Year to Date
(Apr. -Dec.)
3Q
(Oct. -Dec.)

11
Business Overview – Gaming Segment
19,078
26,452
5,407
8,302
5,994
8,659
1,966
2,586
0
3,000
6,000
9,000
12,000
15,000
0
6,000
12,000
18,000
24,000
30,000
FY2023 FY2024 FY2023 FY2024
Net sales: YTD +38. 6 ％ / + 7,3 73 M (3Q +5 3.5 ％ / + 2,8 94 M )
Factors for Increase /Decrease in the First Nine Months
•As a result of the above factors, operating profit increased significantly both YTD and in 3Q .
New titles
for consoles and PCs
YoY -53.2%
Composition ratio:13 ％
Repeat sales
for consoles and PCs
YoY +30.6%
Composition ratio:13 ％
Royalties
for consoles and PCs
YoY+261.9%
Composition ratio:47 ％
Others
YoY+24.9 %
Composition
ratio:27 ％
Operating profit: YTD +4 4.5 % /+ 2,6 64 M (3Q + 31.6 %/+ 620 M )
Future outlook
•ELDEN RING NIGHTREIGN , a spin -off title of ELDEN RING , is scheduled for a 2025 release. As a cooperative
survival action title, the spin -off title offers a new way to enjoy the franchise with a game design that differs
completely from the original, in an effort to maximize the LTV of the series .
•For medium -to long -term growth, we are expanding the development pipeline, including major titles.
• We are developing a structure to expand the scope of in -house publishing for console and PC games.
• For mobile games, a mobile game for 【Oshi no Ko 】is under development . Beyond that, we are making
preparations to consistently launch titles that are of higher quality.
•Sales increased significantly in the segment overall both YTD and in 3Q,with the original ELDEN RING and
its DLC contributing significantly .
• In addition to DLC continuing to do well, strong sales of the original title helped boost royalty sales
significantly, particularly overseas.
• In 3Q , in addition to the above factors sales were helped by repeat sales of multiple past titles from Spike
Chunsoft .
(Unit: Million JPY) Net
sales
Operating
profit
■ Net sales ■ Operating profit
Year to Date
(Apr. -Dec.)
3Q
(Oct. -Dec.)

12
Operating profit: -21.3 ％ / -2,795M (4Q +44.0% / +1,436M)
Business Overview – Web Services Segment
16,082
13,369
5,081 5,039
1,067
-712
418 295
-1,000
0
1,000
2,000
3,000
4,000
5,000
6,000
-3,000
0
3,000
6,000
9,000
12,000
15,000
18,000
FY2023 FY2024 FY2023 FY2024
•Due to falling sales in niconico related businesses, which lost sales from June to August in connection with
service disruptions from a cyberattack, sales declined in the segment overall.
• In 3Q , sales increased for niconico related businesses due to the effects of an increase in monthly premium
membership rates implemented in March the previous year. However, sales decreased in the mobile
business, leaving sales for the segment flat overall.
Net sales: YTD -16.9% / -2,712M (3Q -0.8 ％ / -41M)
N iconico -related
YoY -18.8 %
Composition ratio : 72 %
Live
YoY -7.0 %
Composition ratio : 16 %
Mobile
YoY -16.8 %
Composition ratio : 11 %
Operating profit: YTD – / -1,780M (3Q -29.4%/ -123M)
Future outlook
•DWANGO , which oversees the web services business, will carry out an absorption -type merger with BOOK
WALKER and KADOKAWA Connected, key subsidiaries involved with digital business inside the KADOKAWA
Group. The move aims to strengthen competitiveness by consolidating the engineers from the three
companies, optimally allocating development resources and promoting business streamlining.
•In niconico -related businesses, we are working to increase the number of premium members and improve
profitability through service improvements. In addition, we are actively developing new customer bases
focused on the live streaming market and popular niconico genres such as VOCALOID*.
•Collaboration with other businesses in the KADOKAWA Group will be enhanced. We will strengthen the
ability to secure creators and the diversity of services with the aim of improving the UU count.
Factors for Increase /Decrease in the First Nine Months
(Unit: Million JPY) Net
sales
Operating
profit
■ Net sales ■ Operating profit
Year to Date
(Apr. -Dec.)
3Q
(Oct. -Dec.)
•In the first nine months, operating profit declined, mainly from the effects of the cyberattack. In 3Q ,
operating profit declined due to IT infrastructure investment, which will peak for this fiscal year, and the
effects of declining sales in the mobile business.
*V O C A L O I D i s t r a d e m a r k s o f Y a m a h a C o r p o r a t i o n .

13
Business Overview – Education /EdTech Segment
9,795
11,319
3,092
3,661
1,558
2,264
391
816
0
1,000
2,000
3,000
4,000
0
3,000
6,000
9,000
12,000
FY2023 FY2024 FY2023 FY2024
•The number of students increased with a high growth rate for Vantan, N High School and S High School, resulting
in increased sales both YTD and in 3Q.
• In Vantan, student enrollments grew significantly at newly opened schools that make use of KADOKAWA’s IP creation
and development capabilities, especially KADOKAWA SCHOOL OF ANIME and KADOKAWA SCHOOL OF MANGA.
• In the N/S High School business, student enrollment has continued to increase, mainly due to the opening of new
campuses for in -person courses and the growing popularity of the schools.
Sales: YTD +15.6% / +1,524 M (3Q +18.4% / +568 M)
Factors for Increase /Decrease in the First Nine Months
• As a result of the above factors, operating profit increased both YTD and in 3Q.
Vantan
YoY+10.9 %
Composition ratio : 71%
N/S high school business
YoY+28.6 %
Composition ratio : 29%
Operating profit: YTD +45.3 ％ / +705M (3Q +108.5% / +425M)
Future outlook
•We will aim to continue the high rate of growth by opening new schools, establishing new courses, and
expanding popular courses to new areas.
• At Vantan , we will expand the regions where we operate, focusing on the provision of popular courses. In April 2026
we plan to open a music -related school.
• In the N/S High School business, we plan to open a new R High School* in April 2025. From the next fiscal year and
beyond, we expect to maintain high growth in student enrollment across all three schools, including N/S High School.
• Applicants for ZEN University ahead of its scheduled opening in April 2025 topped 3,000 (as of the end of January
202 5). Roughly half of the applications are from the N/S High Schools, where student enrollments have continually
increased, and we expect to achieve stable growth in enrollments in the medium -to long -term.
•We will cultivate our own creators who will represent the talent base serving as the source of sustainable growth
for the content business. We aim to build a resilient corporate structure as a Group that is less susceptible to
shifting demand and supply in the creator market.
* Preparations for school opening underway
(Unit: Million JPY) Net
sales
Operating
profit
■ Net sales ■ Operating profit
Year to Date
(Apr. -Dec.)
3Q
(Oct. -Dec.)

14
Business Overview – Others Segment
•Net sales declined slightly in the MD business. Sales of music CDs declined, but IP -related goods performed
well, including overseas.
•In the commercial facility business, net sales increased (+36.2% in 3Q ), in part due to strong performance of
IP events, which have also expanded outside Sakura Town.
•In other businesses, sales declined due to factors such as the withdrawal from the purchase and sales of some
items considering their profitability (approx. -1 billion yen), and a decline in inter -segment translations at
functional subsidiaries promoting in -Group DX (no consolidated impact. approx. -2 billion yen including impact
of cyberattack).
Net sales: YTD -1 3.9 % / -2,0 25 M (3Q -8. 0 ％ / -4 15 M )
Factors for Increase /Decrease in the First Nine Months
•Operating profit increased slightly in the MD business. In 3Q , operating profit fell in part due to rising costs.
•In the commercial facility business, the deficit continuously narrowed due to the effect of lower amortization
expenses resulting from the impairment loss in the previous year and ongoing cost control.
•In other businesses, operating profit declined due to factors decreasing sales at the abovementioned
functional subsidiaries (no consolidated impact. approx. -600 million yen up to 2Q ). This had a big impact and
operating profit declined in the segment as a whole.
MD
YoY -2.8 %
Composition ratio:35 ％
Commercial facility
YoY +8.1 %
Composition ratio:22 ％
Others
YoY -28.2 %
Composition ratio:43 ％
Operating profit: YTD – / -1 79 M (3Q – / + 317 M )
14,596
12,570
5,203 4,787
-3,033 -3,212
-1,107 -789
-3,500
0
3,500
7,000
10,500
14,000
17,500
-3,500
0
3,500
7,000
10,500
14,000
17,500
FY2023 FY2024 FY2023 FY2024
Future outlook
•In the MD business, next fiscal year we will further strengthen the international rollout of services and
merchandise, and expand to make steady progress as new pillar of our Global Media Mix strategy.
•In the Commercial Facility business, in addition to ongoing measures to attract visitors to Sakura Town and
control costs, we will aim to improve business performance through the nationwide rollout of events that help
improve IP value.
(Unit: Million JPY) Net
sales
Operating
profit
■ Net sales ■ Operating profit
Year to Date
(Apr. -Dec.)
3Q
(Oct. -Dec.)

15
• KADOKAWA is developing and operating its first e -manga magazine, MANGA Bar, with Kakao piccoma Corp., which
operates piccoma, one of Japan’s leading e -comic and e -novel services. We strive to make MANGA Bar one of Japan’s
largest platforms for creating intellectual property, aiming to match or exceed the scale of competing manga magazines.
• In addition to distributing our own original works, we aim to help discover and nurture comic writers while creating and
distributing mega hits through MANGA Bar that will be loved worldwide.
Kakao piccoma Corp.
operates piccoma, a popular
platform used by over 10 million
individuals each month.
We aim to produce over 7,000 intellectual
property items each year, a target set for the
fiscal year ending March 31, 2028, the final
year of the Mid -term Management Plan.
Edit Direction
IP creation
Development,
operation, sale of
services, advertising,
and publicity
Providing works
Providing a platform
and user feedback
KADOKAWA offers a range of media
mix titles, including paper -based
books, animations, and other
various merchandise.
✓ MANGA Bar was launched on December 16.
We established a special framework to
promote MANGA Bar to piccoma users.
✓ 11 titles are currently serialized. The
serialized titles are updated every day or
week. New titles will be serialized.
✓ In FY2025, we plan to publish 80 comic
books.
B usiness Alliance with Kakao piccoma Corp.:
Joint Development of the E -Manga Magazine MANGA Bar
The Beloved Fake Litlte Girl of the Duke Family©ももやま・琴子
CMYK Kazuo Sameda Can’t Cure His Chunibyo ©コバシコ
Kumagurashi©若松卓宏・野田宏 Yokohama Outsiders ©ヨルカ Stella Testa Rossa ©貴島煉瓦 Kaisei no Ribelial ©エターナル 14歳 Why is His Lying Majesty So Obsessed With Me?©貴島煉瓦

16
Capital and Business Alliance with Sony Group Corporation
IP distribution IP creation
Joint
investments in
prime business
areas in global
content
domains
Joint promotion
of further
media mix of
both companies’
IP
Acquiring
content holders,
both domestic
and
international ,
including
publishers,
animation
production
companies, and
game developers
Developing
production,
distribution, and
sales bases and
acquiring
companies
overseas
Production of
animated
works
through joint
management
and co –
production
Development of
personnel for the
promotion and
dissemination of
virtual
production
Discovery of new
creators using
UGC platforms
Further expansion of
the scope of the
Company’s game
publishing
Further expansion of
global distribution by
Sony Group of the
Company’s animated
works and anime –
related products
Distribution of the
Company’s publications,
including manga, as e –
books by the Sony Group
Global adaptations
and distribution by
Sony Group of the
Company’s IP into live –
action films and
drama series
Publication/
IP Creation
Animation/
Film
Gaming
Web services,
MD, etc.
Primary
business
involved
• We will expedite the creation and distribution of
intellectual property by enhancing collaboration
with Sony Group Corporation and securing
funding from the Group.
The ability to create IP, particularly
publications, animations, and games
The ability to develop
animations, movies, games,
and music on a global scale
Key activities that we aim to enhance by utilizing the capital and business alliance
Discovery,
development Investment, acquisition Media mix Distribution Creation Investment,
acquisition

Appendix
17

18
Status of Response to Recommendations from the Japan Fair Trade Commission
◼ KADOKAWA and its wholly owned subsidiary KADOKAWA LifeDesign were regarded by the Japan Fair Trade Commission to have
unilaterally decided to revise the order unit prices related to publishing operations from the April 2023 issue of the magazi ne
Lettuce Club without adequately consulting with 26 subcontractors, and subsequently received recommendations from the
commission.
◼ We will take action s on the following six items contained in the recommendations, which we expect to be completed by March
31, 2025.
◼ Beyond implementing these actions , we will also investigate whether there have been cases of similar rate cuts in the past, and
continue taking measures to rebuild and reinforce our awareness of legal compliance.
Recommendations Status Current status
1. Retroactively reach an agreement regarding
subcontracting fees and pay the difference Completion
• From November to December 2024, we engaged in consultations with the affected
subcontractors over new rates.
• In December 2024, we completed making retroactive payments to make up the different
in rates dating back to the April 2023 issue.
2. Make a Board of Directors resolution acknowledging
that there was a violation of the Subcontracting Act
in this instance and affirming that subcontracting
rates will not be unfairly determined in the future.
Completion • The resolution was made at the November 2024 Board of Directors meeting.
3. Take necessary measures to improve internal
systems, including having the personnel responsible
for placing orders with subcontractors undergo
training about the Subcontracting Act.
Measures
being taken
• From January to February 2025, we are conducting multiple internal training sessions for
all employees involved in ordering operations, with an outside attorney serving as the
instructor.
4. Disseminate the details of recommendations 1
through 3 among all employees
Measures
being taken
• We disseminated information including information about correcting violations, the
implementation of internal training, the verification of various procedures, strengthened
monitoring and the importance of being aware of legal compliance issues.
5. Disseminate information about recommendations 1
through 4 with all subcontractors
Measures
being taken • Notices for contractors are currently being prepared.
6. Report on the details of the above recommendations
1 through 5 to the Japan Fair Trade Commission
Measures
being taken • Monthly progress reports are being made.

19
690
1,220
3,390
3,030
1,080
900
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
1Q 2Q 3Q 4Q 1Q 2Q 3Q
FY2023 FY2024
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
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
0
10,000
20,000
30,000
40,000
50,000
1Q 2Q 3Q 4Q 1Q 2Q 3Q
FY2023 FY2024
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
Publication /IP Creation Segment
Sales trend of paper -based
books /magazines and returns rate
(KADOKAWA Non -consolidated)
(Million JPY) (Titles)
150,741
*Accumulated e -book titles include the number of distribution by chapter
39,250 YoY+9.8%▼
（ Million JPY ） （Percentage)
28%YoY+4.5pt
YoY-16.9%▼

20
121
213
604
333
42
142
145
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
1Q 2Q 3Q 4Q 1Q 2Q 3Q
FY2023 FY2024
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 (Actual)
Publication /IP Creation Segment
1,600
YoY+1.3 ％▼
Titles contributing to sales
（Titles ）
*Total of IPs including Group companies’ and born -digital titles in addition to KADOKAWA non -consolidated paper -based books
Pan Dorobou , Vol.6 The bride’s stories, Vol.15
My Love Story with
Yamada -kun at Lv999 ,
Vol.10 ©MASHIRO /COMISMA INC. (C)Mokumokuren
(C) Kaoru Mori 2024
The Summer Hikaru Died,
Vol.6

21
E -books /magazines
E -book Business
0
40,000
80,000
120,000
160,000
0
4,000
8,000
12,000
16,000
20,000
1Q 2Q 3Q 4Q 1Q 2Q 3Q
FY2023 FY2024
Net sales of e-books/magazines (left axis)
Accumulated titles of ebooks (right axis)
150,741
Trend of net sales
0
200
400
600
800
1,000
1,200
1,400
1Q 2Q 3Q 4Q 1Q 2Q 3Q
FY2023 FY2024
Trend of international net sales
Net sales breakdown
(April to September)
Global usage situation (MPU)
Comic
77 %
Other
23 %
130
150
170
1Q 2Q 3Q 4Q 1Q 2Q 3Q
FY2023 FY2024
15,747 YoY+12.4 ％
(Million JPY) (Million JPY)
(Thousand people)
YoY+9.2 ％▼
YoY-1.9 ％▼
*Accumulated titles of ebooks include the number of distribution by chapter
*MPU (Monthly Paid User)

22
0
2,000
4,000
6,000
8,000
10,000
12,000
1Q 2Q 3Q 4Q 1Q 2Q 3Q
FY2023 FY2024
Others (including production subsidiaries)
Domestic merchandising
Domestic streaming
International
14 16
15 13
15 12
11
FY2023 FY2024
1Q 2Q 3Q 4Q
Net sales of animation business
Animation /Film Segment
8,353
YoY+9.7 ％▼
Titles contributing to sales The number of
animation titles
TV/Web broadcasts
38
Theater
movies
3
55▼
Number of new titles
Breakdown by media in
Apr. to Dec.
*Number of titles including minor investment
(Million JPY)
18 ％
30 ％
18 ％
34 ％
©Kugane Maruyama,PUBLISHED BY KADOKAWA CORPORATION/ OVERLORD:The Sacred Kingdom Movie Partners
OVERLORD:
The Sacred Kingdom
©Tappei Nagatsuki,KADOKAWA/Re:ZERO3 PARTNERS ©Riichiro Inagaki, Ryoichi Ikegami/ Shogakukan /Anime Trillion Game Partners
©Akira Amano / SHUEISHA , Ron Kamonohashi’s Forbidden Deductions Partners
TRILLION GAME Re:ZERO -Starting Life in Another World -Season 3
Ron Kamonohashi’s
Forbidden Deductions
2nd Season

23
Yearly basis
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 ）
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.
20.0%
40.0%
60.0%
80.0%
0
15,000
30,000
45,000
FY2020 FY2021 FY2022 FY2023 FY2024
1-3Q
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
20.0%
40.0%
60.0%
80.0%
0
3,000
6,000
9,000
12,000
15,000
1Q 2Q 3Q 4Q 1Q 2Q 3Q
FY2023 FY2024
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
YoY+11.1 ％ ▼

24
FY2024 YTD
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 ）
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 【OSHI NO KO 】 2023
2 Overlord 2015
3 Delicious in Dungeon 2023
4 Re:ZERO -Starting Life in Another World – 2016
5 KONOSUBA: God’s Blessing on This
Wonderful World! 2016
6 Alya Sometimes Hides Her Feelings in Russian 2024
7 The Eminence in Shadow 2022
8 Bungo Stray Dogs 2016
9 No Longer Allowed in Another World 2024
10 Date A Live 2013
Rank Title Name (Series) Year First
Published
1 Pan Dorobou 2020
2 Sword Art Online 2009
3 Delicious in Dungeon 2015
4 KADOKAWA Manga Gakushu Series 2015
5 Mushoku Tensei: Jobless Reincarnation 2014
6 Spice and Wolf 2006
7 Re:ZERO -Starting Life in Another World – 2014
8 Bungo Stray Dogs 2013
9 Rascal Does Not Dream 2014
10 The Irregular At Magic High School 2011
0 1,000 2,000 3,000 4,000 5,000
【OSHI NO KO 】
Delicious in Dungeon
Overlord
Re:ZERO -Starting Life in Another World-
KONOSUBA: God’s Blessing on This Wonderful
World!
Pan Dorobou
Bungo Stray Dogs
The Eminence in Shadow
Alya Sometimes Hides Her Feelings in Russian
Sword Art Online
Publication/IP Creation Segment (Books and Magazines)
Publication/IP Creation Segment (Rights-licensing and others)
Animation/Film Segment
Gaming Segment, Others

25
Books
Eagerly Awaited Upcoming Titles
Animation
©Sumiko Arai
(c)KIYOHIKO AZUMA/ YOTUBA SUTAZIO (C)Kafka Asagiri 2025(C)Sango Harukawa 2025
©Akumi Agitogi ・Tsukiho Tsukioka
The Guy She Was
Interested In Wasn’t a
Guy at All, Vol. 3
BUNGO STRAY DOGS,
Vol.26 Yotsuba &!, Vol.16
©Akumi Agitogi , Tsukiho Tsukioka /KADOKAWA /My Happy Marriage Partners
©Koyoshi Nakayoshi /SQUARE ENIX, Isekai Red Partners
©TSURUMAIKADA,KODANSHA /Medalist Partners ©2023 Keiso /KADOKAWA /ISHURA Partners
My Happy Marriage
The Red Ranger
Becomes an Adventurer
in Another World
Medalist ISHURA Season2
My Happy Marriage 、Vol.9

26
Trend of sales of Gaming segment
Gaming Segment
Titles contributing to sales
Downloadable Content
“SHADOW OF THE ERDTREE”
for “ELDEN RING”
FY2023 FY2024
1Q 2Q 3Q 4Q 1Q 2Q 3Q
Number of newly
released titles for
consoles and PCs
2 3 1 3 5 1 1
Total number of
copies sold
(million copies)
0.98 1.80 0.87 1.10 1.33 0.93 1.88
Eagerly awaited upcoming titles
0
3,000
6,000
9,000
12,000
1Q 2Q 3Q 4Q 1Q 2Q 3Q
FY2023 FY2024
New Titles for consoles and PCs Repeat sales for consoles and PCs
Royalties for consoles and PCs Other
8,302YoY+53.5 ％ ▼
©Bandai Namco Entertainment Inc. / ©2024 FromSoftware, Inc.
©Bandai Namco Entertainment Inc. / ©2022 FromSoftware , Inc.
“ELDEN RING”
“ELDEN RING NIGHTREIGN”
Releasing Worldwide in 2025
©Bandai Namco Entertainment Inc. / ©2025 FromSoftware, Inc. ※Total number of titles and copies sold by Group Companies themselves in any region

27
Niconico -Related Business
Niconico user data Niconico Channel user data
Age
Niconico usage data
Regular members (Million) 103.24
Premium members (Million) 1.07
Number of channels 11,406
Number of channels with monthly fee 2,4 09
Dues -paied members (Million) 1.18
*As of December 31, 2024
2.7%
22.6% 36.1% 20.6% 11.9%
6.0%
0% 20% 40% 60% 80% 100%
10s 20s 30s 40s 50s Others
MAU
(Million)
DAU
(Million)
Logged In Unique Users
+ Unique Video Viewers
Not Logged In
Google Analytics -based
Unique Users
Niconico Chokaigi 2024
Visitors (Thousand) 12 5
Logged In Unique Users
niconico
*As of December 31, 2024
*As of December 31, 2024
* Usage for October -December 2024 cannot be disclosed because of difficulty in
calculating data due to the system failure.
ー
ー
ー
ー
ー
ー

28
Trend of Number of N & S High School Students
Education /EdTech Segment
Trend of Number of Vantan Students
0
10,000
20,000
30,000
40,000
1Q 2Q 3Q 4Q 1Q 2Q 3Q
FY2023 FY2024
(Students ) 32,460
Number of
enrolled students
(As of Dec. 2024) 8,688
Number of
enrolled students
(As of April 2024)
0
3,000
6,000
9,000
FY2021
April
FY2022
April
FY2023
April
FY2024
April
(Students )
YoY+17 ％▼
YoY+15 ％▼

29
251 244 175 398 217 852 595
4,683 5,356 5,178 4,985 5,867 5,813 6,336
3,471 3,008 3,076 3,452
4,343 4,753 2,829 1,611 1,613 1,949 1,308
2,065
7,193
4,843
0
5,000
10,000
15,000
20,000
FY2023 1Q 2Q 3Q 4Q FY2024 1Q 2Q 3Q
Breakdown of International Net Sales by Segment
International Net Sales
Americas 58.6% 56.2 ％ 51.3 ％ 51.6% 58.4% 57.8 ％ 53.5%
Asia 32.6% 34.7 ％ 37.9 ％ 40.3% 32.8% 28.5 ％ 36.4%
Others 8.8% 9.1 ％ 10.8 ％ 8.1% 8.7% 13.7 ％ 10.1%
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.
12,494
10,018 10,222 10,379 10,145
18,612
14,605
YoY
+40.7 ％

30
Capital Investment*
Capital Investment and Depreciation
Depreciation
3,128
6,378 7,272
5,824
5,185
6,794
0
5,000
10,000
15,000
FY2023 FY2024
1-3Q
FY2024
(Forecast)
14,067 ■ Purchase of property, plant and equipment
■ Purchase of intangible assets
8,952
(Million JPY)
6,735
5,326
7,800
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
FY2023 FY2024
1-3Q
FY2024
(Forecast)
(Million JPY)
11,563
* “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).

31
Basic Financial Policies and Balance Sheet
• There are no changes to our basic financial policies. We have set a target ROE of 12% or greater as a KPI . We express our
equity ratio guidelines in terms of upper and lower limits, and will continue aiming to balance ensuring financial health and
pursuing capital efficiency.
• Over the nine months from the first to third quarters of FY2024 , there were no major changes to the structure of the balance
sheet.
Total assets
340.3 billion yen
Cash and
deposits
105.3 billion yen
Net assets
212.5 billion yen
Liabilities
127.7 billion yen
Interest -bearing debt
25.8 billion yen
As of March 31, 2024
Equity ratio: 56.0%
Net Cash: 79.5 billion yen
(1)
Inve stment
Invested funds:
17.7 billion yen
(2)
Dividend
Shareholder dividend:
4.1 billion yen
(Dividend per share: 30 yen)
FY24 1Q -3Q
Capital allocation
Total assets
353.1 billion yen
Cash and
deposits
89.1 billion yen
Net assets
221.9 billion yen
Liabilities
131.2 billion yen
Interest -bearing debt
27.2 billion yen
As of December 31, 2024
Equity ratio: 55.4%
Net Cash: 61.9 billion yen

32
FAQ
D o m e s t ic s a l e s f r o m s t o r e s o f o t h e r c o m p a n i e s w a s p r e v i o u s l y r e c o r d e d b a s e d o n f i n a l r e p o r t s r e c e i v e d f r o m e a c h s t o r e , b u t
s t a r t i n g f r o m t h e f o u r t h q u a r t e r o f t h e f i s c a l y e a r e n d e d M a r c h 3 1 , 2 0 2 4 , w e c h a n g e d t o a l s o r e c o r d i n g e s t i m a t e s b a s e d o n
p r e l i m i n a r y d a t a r e c e i v e d f r o m s o m e s t o r e s o f o t h e r c o m p a n i e s . S a l e s t h a t w e r e p r e v i o u s l y r e c o r d e d i n t h e f o l l o w i n g m o n t h o r
l a t e r a r e n o w e s t i m a t e d a n d r e c o r d e d i n a d v a n c e . T h e a b o v e i m p a c t a l s o o c c u r r e d i n n i n e m o n t h s e n d e d D e c e m b e r 3 1 , 2 0 2 4 .
T h e i m p a c t i n 3Q w a s s m a l l e r t h a n t h a t i n 1Q a n d 2Q .
Q01
A
W h a t w e r e t h e c h a n g e s o f r e v e n u e r e c o g n it io n t im i n g f o r d o m e s t i c s a l e s a t s t o r e o f o t h e r c o m p a n i e s i n t h e e -b o o k b u s i n e s s ?
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 + 4 . 4 b i l l i o n J P Y ) w a s + 8 . 1 % i n t h e A p r i l t o
D e c e m b e r p e r i o d . I n t h e O c t o b e r t o D e c e m b e r p e r i o d , 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 + 0 . 5 b i l l i o n J P Y ) w a s + 1 1 . 1 % .
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 .
Q02
A
W h a t w a 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 r a t e s f r o m A p r i l t o D e c e m b e r , a n d O c t o b e r t o D e c e m b e r 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 w a s t h e g r o w t h r a t e f o r s a l e s a n d o p e r a t i n g p r o f i t e x c l u d i n g t h e f o r e i g 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 D e c e m b e r
w a s a b o u t + 0 . 9 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 + 1 0 . 9 % . I n t h e O c t o b e r t o D e c e m b e r p e r i o d ,
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 w a s a b o u t + 0 . 2 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 2 . 7 % .
Q03
A
W h a t w a 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 r a 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
D e c e m b e r , a n d O c t o b e r t o D e c e m b e r 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 r a 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 r a t e s ?

33
FAQ
T h e r a t i o o f s a l e s a t t h e C o m p a n y ’ s o w n s t o r e s ( B O O K ☆ W A L K E R ) t o s t o r e s o f o t h e r c o m p a n i e s w a s 1 : 4 , a n d t h e g r o w t h r a t e s
a r e + 0 . 8 % ( B O O K ☆ W A L K E R ) a n d + 2 1 . 2 % ( o t h e r c o m p a n i e s ’ s t o r e s ) f r o m A p r i l t o D e c e m b e r . F r o m O c t o b e r t o D e c e m b e r , t h e
r a t i o o f s a l e s w a s 1 : 3 , a n d t h e g r o w t h r a t e s o f t h e m a r e -5 . 0 % a n d + 1 6 . 0 % e a c h . T h e g r o w t h r a t e f o r s a l e s i n s t o r e s o f o t h e r
c o m p a n i e s i n c l u d e s t h e i m p a c t o f t h e c h a n g e i n s a l e s r e c o g n i t i o n t i m i n g d e s c r i b e d i n Q01 , a n d t h e g r o w t h r a t e e x c l u d i n g t h i s
i m p a c t i s + 1 3 . 3 % i n t h e A p r i l t o D e c e m b e r p e r i o d .
Q04
A
F o r s a l e s a m o u n t s o f e -b o o k s f r o m A p r i l t o D e c e m b e r , a n d f r o m O c t o b e r t o D e c e m b e r , w h a t w a s t h e r a t i o o f s a l e s f r o m t h e
C o m p a n y ’ s o w n s t o r e t o t h o s e o f o t h e r c o m p a n i e s , a n d w h a t w e r e t h e g r o w t h r a t e s o f e a c h ?
S h a r e b y g e n r e : C o m i c s 2 8 % , 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 3 % , l i g h t n o v e l s 1 1 % , p a p e r b a c k b o o k s 1 0 % , c h i l d r e n ’ s
b o o k s 1 1 % , m a g a z i n e s 7 %
G r o w t h r a t e b y g e n r e : c o m i c s -1 8 % , 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 % , l i g h t n o v e l s -1 6 % , p a p e r b a c k b o o k s -1 % ,
c h i l d r e n ’ s b o o k s -9 % , m a g a z i n e s -1 8 % ( 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 ) . T h e a b o v e r e s u l t s i n c l u d e t h e i m p a c t o f t h e
c y b e r a t t a c k .
Q05
A
F r o m A p r i l t o D e c e m b e r , 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 r a 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 .
Q06
A
W h a t w e r e t h e r a 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 D e c e m b e r ?

34
FAQ
W e d o n o t d i s c l o s e s a l e s r e s u l t s a n d f o r e c a s t s f o r i n d i v i d u a l t i t l e s .
Q08
A
W h a t a r e t h e a c t u a l a n d p r o j e c t e d s a l e s o f t h e D L C f o r E L D E N R I N G i n t h i s f i s c a l y e a r ?
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 i n g t i t l e s c o n s i s t e d o f 5 % 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 4 2 % i n t h e
A n i m a t i o n / F i lm S e g m e n t .
Q07
A
F r o m A p r i l t o D e c e m b e r , 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 l i n g t i t l e s 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 t h e A n i m a t i o n / F i l m S e g m e n t ?

©KADOKAWA CORPORATION 202 5
• 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 io 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 .