Income Statement Kadokawa Corporation

Stocks

9468

JP3214350005

Consumer Publishing

Market Closed - Japan Exchange Other stock markets 02:30:00 2026-06-11 am EDT			5-day change	1st Jan Change
3,310.00 ^JPY	+1.29%		-0.93%	+4.22%

Jun. 09	Oasis Management Company Ltd. Provides Information to Kadokawa Corporation	CI
Jun. 08	Oasis Calls on Kadokawa Investors to Vote Against CEO Takeshi Natsuno	CI

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Published financial data: KADOKAWA CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	210B	221B	255B	258B	278B
Total Revenues	210B	221B	255B	258B	278B
Cost of Goods Sold, Total	136B	146B	165B	171B	179B
Gross Profit	73.69B	75.59B	90.86B	86.61B	99.08B
Selling General & Admin Expenses, Total	60.06B	57.46B	64.98B	68.16B	82.38B
Provision for Bad Debts	-103M	-398M	-53M	-	41M
Other Operating Expenses	113M	-	-	-	-
Other Operating Expenses, Total	60.06B	57.07B	64.92B	68.16B	82.42B
Operating Income	13.63B	18.52B	25.93B	18.46B	16.65B
Interest Expense, Total	-103M	-100M	-123M	-63M	-80M
Interest And Investment Income	597M	512M	1.26B	2.16B	2.01B
Net Interest Expenses	494M	412M	1.13B	2.1B	1.93B
Income (Loss) On Equity Invest.	-86M	463M	629M	554M	725M
Currency Exchange Gains (Loss)	19M	1.34B	308M	1.76B	-1.79B
Other Non Operating Income (Expenses)	256M	-597M	-1.45B	-2.75B	117M
EBT, Excl. Unusual Items	14.31B	20.14B	26.55B	20.12B	17.63B
Gain (Loss) On Sale Of Investments	487M	-13M	-91M	1.86B	2.77B
Gain (Loss) On Sale Of Assets	244M	132M	159M	331M	116M
Asset Writedown	-216M	-71M	-3.74B	-2.56B	-266M
Other Unusual Items	-568M	-728M	-1.53B	-59M	-3.06B
EBT, Incl. Unusual Items	14.26B	19.46B	21.35B	19.69B	17.19B
Income Tax Expense	4.74B	4.4B	6.15B	6.67B	7.25B
Earnings From Continuing Operations	9.51B	15.06B	15.2B	13.02B	9.94B
Net Income to Company	9.51B	15.06B	15.2B	13.02B	9.94B
Minority Interest	73M	-983M	-2.52B	-1.64B	-2.54B
Net Income - (IS)	9.58B	14.08B	12.68B	11.38B	7.39B
Net Income to Common Incl Extra Items	9.58B	14.08B	12.68B	11.38B	7.39B
Net Income to Common Excl. Extra Items	9.58B	14.08B	12.68B	11.38B	7.39B
Per Share Items
Net EPS - Basic	77.41	105.96	90.91	83.42	53.86
Basic EPS - Continuing Operations	77.41	105.96	90.91	83.42	53.86
Basic Weighted Average Shares Outstanding	124M	133M	139M	136M	137M
Net EPS - Diluted	77.41	105.96	90.89	83.42	52.47
Diluted EPS - Continuing Operations	77.41	105.96	90.89	83.42	52.47
Diluted Weighted Average Shares Outstanding	124M	133M	140M	136M	137M
Normalized Basic EPS	72.83	87.33	100.92	80.15	61.73
Normalized Diluted EPS	72.83	87.32	100.9	80.15	61.73
Dividend Per Share	20	25	30	30	30
Payout Ratio	19.7	23.36	33.43	-	54.99
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	18.16B	24.62B	32.06B	25.37B	24.91B
EBITA	13.69B	18.9B	26.09B	18.46B	17.23B
EBIT	13.63B	18.52B	25.93B	18.46B	16.65B
Effective Tax Rate - (Ratio)	33.28	22.59	28.82	33.87	42.19
Total Current Taxes	-	-	-	8.23B	-
Total Deferred Taxes	-	-	-	-1.56B	-
Normalized Net Income	9.02B	11.6B	14.08B	10.94B	8.47B
Non-Cash Pension Expense	-221M	143M	-185M	-	-155M
Supplemental Operating Expense Items
Advertising Expense	13.71B	7.42B	9.39B	-	10.94B
Selling and Marketing Expenses	13.71B	7.42B	9.39B	-	10.94B
Research And Development Expense From Footnotes	606M	170M	288M	-	410M

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	79.04B	124B	167B	105B	145B
Short Term Investments	4.13B	4.49B	4.72B	5.25B	4.9B
Total Cash And Short Term Investments	83.17B	128B	172B	111B	150B
Accounts Receivable, Total	41.85B	42.79B	50.45B	64.99B	69.37B
Total Receivables	41.85B	42.79B	50.45B	64.99B	69.37B
Inventory	20.76B	23.92B	25.59B	30.54B	34.76B
Prepaid Expenses	1.38B	1.85B	1.97B	2.62B	3.7B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	6.74B	8.62B	14.02B	12.7B	14.23B
Total Current Assets	154B	206B	264B	221B	272B
Net Property Plant And Equipment	72.16B	71.54B	68.57B	64.73B	66.92B
Long-term Investments	35.41B	39.88B	38.25B	29.22B	46.44B
Goodwill	362M	429M	684M	1.73B	5.33B
Other Intangibles, Total	6.61B	6.85B	8.22B	11.94B	15.17B
Deferred Tax Assets Long-Term	1.2B	1.01B	3.21B	5.26B	3.71B
Other Long-Term Assets, Total	2M	2M	2M	5.98B	2M
Total Assets	270B	325B	383B	340B	410B
Liabilities
Accounts Payable, Total	25.27B	26.64B	29.22B	34.08B	35.41B
Accrued Expenses, Total	4.15B	4.81B	4.92B	7.06B	6.11B
Short-term Borrowings	459M	283M	-	-	451M
Current Portion of Long-Term Debt	10B	-	40.05B	178M	15.29B
Current Income Taxes Payable	12.85B	12.66B	18.48B	4.63B	19.61B
Unearned Revenue Current, Total	-	-	-	15.08B	-
Other Current Liabilities	26.62B	33.5B	36.24B	36.34B	40.17B
Total Current Liabilities	79.35B	77.88B	129B	97.38B	117B
Long-Term Debt	55B	65B	25.22B	25.17B	10.95B
Pension & Other Post Retirement Benefits	3.69B	3.86B	3.53B	3.1B	2.37B
Deferred Tax Liability Non Current	615M	1.15B	408M	372M	637M
Other Non Current Liabilities	1.48B	1.69B	1.65B	1.73B	1.64B
Total Liabilities	140B	150B	160B	128B	133B
Common Stock, Total	25.62B	40.62B	40.62B	40.62B	65.61B
Additional Paid In Capital	44.82B	53.32B	76.29B	76.03B	85.22B
Retained Earnings	56.22B	67.02B	75.46B	82.59B	85.91B
Treasury Stock	-8.94B	-1.93B	-2.59B	-21.28B	-5.62B
Comprehensive Income and Other	9.62B	12.86B	12.77B	12.63B	21.08B
Total Common Equity	127B	172B	203B	191B	252B
Minority Interest	2.18B	3.84B	20.62B	21.97B	25.19B
Total Equity	130B	176B	223B	213B	277B
Total Liabilities And Equity	270B	325B	383B	340B	410B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	129M	139M	139M	134M	147M
ECS Total Common Shares Outstanding	129M	139M	140M	134M	147M
Book Value / Share	987.82	1.23K	1.45K	1.42K	1.72K
Tangible Book Value	120B	165B	194B	177B	232B
Tangible Book Value Per Share	933.74	1.18K	1.39K	1.32K	1.58K
Total Debt	65.46B	65.28B	65.26B	25.35B	26.69B
Net Debt	-17.71B	-63.14B	-107B	-85.25B	-124B
Debt Equivalent of Unfunded Proj. Benefit Obligation	3.64B	3.79B	3.51B	-	2.37B
Minority Interest, Total (Incl. Fin. Div)	2.18B	3.84B	20.62B	21.97B	25.19B
Account Code - Inventory Valuation	-	-	-	6	-
Inventories - Raw Materials, Total	132M	192M	241M	-	300M
Inventories - Work In Process, Total	14.73B	17.96B	17.59B	-	23.2B
Inventories - Finished Goods, Total	5.9B	5.77B	7.76B	-	11.26B
Inventories - Others	-	1M	2M	-	2M
Full Time Employees	4.91K	5.35K	5.86K	6.27K	6.97K
Accumulated Allowance for Doubtful Accounts (Supple)	799M	388M	341M	141M	211M

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	14.26B	19.46B	21.35B	-	17.19B
Depreciation & Amortization - CF	4.46B	5.72B	5.97B	-	7.68B
Amortization of Goodwill and Intangible Assets - (CF)	68M	379M	158M	-	576M
Depreciation & Amortization, Total	4.53B	6.1B	6.13B	-	8.26B
(Gain) Loss From Sale Of Asset	-154M	-	3.74B	-	266M
(Gain) Loss on Sale of Investments - (CF)	-695M	-	-	-	-2.6B
(Income) Loss On Equity Investments - (CF)	86M	-463M	-629M	-	-725M
Other Operating Activities, Total	-3.7B	-5.33B	-7.89B	-	-9.7B
Change In Accounts Receivable	-3.52B	-569M	-9.1B	-	-4.7B
Change In Inventories	-1.82B	-2.78B	-1.34B	-	-2.64B
Change In Accounts Payable	707M	1.16B	2.25B	-	537M
Change in Other Net Operating Assets	5.9B	4.14B	3.01B	-	7.96B
Cash from Operations	15.59B	21.71B	17.52B	-	13.84B
Capital Expenditure	-17.03B	-2.21B	-2.81B	-	-6.64B
Sale of Property, Plant, and Equipment	423M	-	-	-	-
Cash Acquisitions	-	-184M	41M	-	-3.14B
Divestitures	691M	-	-	-	-
Sale (Purchase) of Intangible assets	-3.26B	-3.04B	-4.26B	-	-7.49B
Investment in Marketable and Equity Securities, Total	13.16B	-2.18B	-10.51B	-	8.29B
Other Investing Activities, Total	86M	-323M	1.28B	-	545M
Cash from Investing	-5.93B	-7.94B	-16.26B	-	-8.44B
Short Term Debt Issued, Total	-	-	-	-	32M
Long-Term Debt Issued, Total	-	10B	-	-	-
Total Debt Issued	-	10B	-	-	32M
Short Term Debt Repaid, Total	-39M	-218M	-309M	-	-
Long-Term Debt Repaid, Total	-	-10B	-23M	-	-426M
Total Debt Repaid	-39M	-10.22B	-332M	-	-426M
Issuance of Common Stock	9.96B	29.87B	1.3B	-	49.7B
Repurchase of Common Stock	-15M	-	-1.3B	-	-
Common Dividends Paid	-1.89B	-3.29B	-4.24B	-	-4.06B
Common & Preferred Stock Dividends Paid	-1.89B	-3.29B	-4.24B	-	-4.06B
Other Financing Activities, Total	-80M	330M	35.3B	-	-1.12B
Cash from Financing	7.93B	26.69B	30.73B	-	44.12B
Foreign Exchange Rate Adjustments	-98M	1.23B	1.82B	-	313M
Miscellaneous Cash Flow Adjustments	245M	1M	-	-	1M
Net Change in Cash	17.74B	41.69B	33.81B	-	49.83B
Supplemental Items
Cash Interest Paid	96M	102M	125M	-	74M
Cash Income Tax Paid (Refund)	3.85B	5.49B	8.03B	-	8.23B
Levered Free Cash Flow	-8.2B	14.62B	11.62B	-	-2.64B
Unlevered Free Cash Flow	-8.13B	14.68B	11.69B	-	-2.59B
Change In Net Working Capital	891M	-2.26B	3.57B	10.49B	7.12B
Net Debt Issued / Repaid	-39M	-218M	-332M	-	-394M

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	3.32	3.89	4.58	3.19	2.77
Return on Total Capital	4.63	5.31	6.12	4.38	3.84
Return On Equity %	8.03	9.87	7.62	5.98	4.06
Return on Common Equity	8.24	9.41	6.77	5.79	3.34
Margin Analysis
Gross Profit Margin %	35.1	34.17	35.57	33.56	35.65
SG&A Margin	28.6	25.98	25.44	26.41	29.64
EBITDA Margin %	8.65	11.13	12.55	9.83	8.96
EBITA Margin %	6.52	8.54	10.21	7.15	6.2
EBIT Margin %	6.49	8.37	10.15	7.15	5.99
Income From Continuing Operations Margin %	4.53	6.81	5.95	5.05	3.58
Net Income Margin %	4.56	6.36	4.96	4.41	2.66
Net Avail. For Common Margin %	4.56	6.36	4.96	4.41	2.66
Normalized Net Income Margin	4.29	5.25	5.51	4.24	3.05
Levered Free Cash Flow Margin	-3.91	6.61	4.55	-	-0.95
Unlevered Free Cash Flow Margin	-3.87	6.64	4.58	-	-0.93
Asset Turnover
Asset Turnover	0.82	0.74	0.72	0.71	0.74
Fixed Assets Turnover	3.17	3.08	3.65	3.87	4.22
Receivables Turnover (Average Receivables)	5.24	5.23	5.48	4.47	4.14
Inventory Turnover (Average Inventory)	6.86	6.52	6.65	6.11	5.48
Short Term Liquidity
Current Ratio	1.94	2.64	2.05	2.27	2.33
Quick Ratio	1.58	2.2	1.73	1.8	1.88
Operating Cash Flow to Current Liabilities	0.2	0.28	0.14	-	0.12
Days Sales Outstanding (Average Receivables)	69.6	69.83	66.62	81.85	88.23
Days Outstanding Inventory (Average Inventory)	53.22	55.99	54.9	59.89	66.63
Average Days Payable Outstanding	65.9	63.66	61.32	65.65	69.28
Cash Conversion Cycle (Average Days)	56.92	62.16	60.21	76.08	85.58
Long Term Solvency
Total Debt/Equity	50.54	37.15	29.24	11.93	9.62
Total Debt / Total Capital	33.57	27.09	22.63	10.65	8.78
LT Debt/Equity	42.46	36.99	11.3	11.84	3.95
Long-Term Debt / Total Capital	28.21	26.97	8.74	10.58	3.6
Total Liabilities / Total Assets	51.97	45.98	41.72	37.54	32.34
EBIT / Interest Expense	132.29	185.2	210.82	292.94	208.15
EBITDA / Interest Expense	176.26	246.22	260.64	402.76	311.34
(EBITDA - Capex) / Interest Expense	10.92	224.11	237.82	402.76	228.35
Total Debt / EBITDA	3.61	2.65	2.04	1	1.07
Net Debt / EBITDA	-0.98	-2.56	-3.33	-3.36	-4.97
Total Debt / (EBITDA - Capex)	58.19	2.91	2.23	1	1.46
Net Debt / (EBITDA - Capex)	-15.74	-2.82	-3.65	-3.36	-6.77
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	2.59	5.36	15.47	1.05	7.67
Gross Profit, 1 Yr. Growth %	13.62	2.57	20.2	-4.67	14.39
EBITDA, 1 Yr. Growth %	40.21	35.62	30.2	-20.85	-1.84
EBITA, 1 Yr. Growth %	67.8	38.01	38.04	-29.26	-6.65
EBIT, 1 Yr. Growth %	68.47	35.92	40.02	-28.83	-9.77
Earnings From Cont. Operations, 1 Yr. Growth %	18.27	58.35	0.92	-14.32	-23.69
Net Income, 1 Yr. Growth %	18.35	46.89	-9.94	-10.21	-35.07
Normalized Net Income, 1 Yr. Growth %	64.63	28.69	21.31	-22.29	-22.55
Diluted EPS Before Extra, 1 Yr. Growth %	18.99	36.87	-14.22	-8.22	-37.1
Accounts Receivable, 1 Yr. Growth %	9.5	2.26	17.9	28.81	6.75
Inventory, 1 Yr. Growth %	9.4	15.24	6.96	19.35	13.82
Net Property, Plant and Equip., 1 Yr. Growth %	19.48	-0.86	-4.14	-5.61	3.39
Total Assets, 1 Yr. Growth %	10.97	20.65	17.7	-11.12	20.49
Tangible Book Value, 1 Yr. Growth %	21.24	36.76	17.63	-8.64	30.97
Common Equity, 1 Yr. Growth %	20.93	34.99	17.83	-5.9	32.33
Cash From Operations, 1 Yr. Growth %	-5.63	39.28	-19.31	-	-
Capital Expenditures, 1 Yr. Growth %	35.15	-87.02	26.96	-	-
Levered Free Cash Flow, 1 Yr. Growth %	-848.52	-278.27	-20.51	-	-
Unlevered Free Cash Flow, 1 Yr. Growth %	-803.7	-280.45	-20.33	-	-
Dividend Per Share, 1 Yr. Growth %	33.33	25	20	0	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	0.32	3.97	10.3	8.02	4.31
Gross Profit, 2 Yr. CAGR %	13.69	7.95	11.04	7.05	4.43
EBITDA, 2 Yr. CAGR %	40.06	37.9	32.89	1.52	-11.86
EBITA, 2 Yr. CAGR %	117.83	52.18	38.03	-1.18	-18.74
EBIT, 2 Yr. CAGR %	124.32	51.32	37.95	-0.18	-19.86
Earnings From Cont. Operations, 2 Yr. CAGR %	52.55	36.85	26.41	-7.02	-19.14
Net Income, 2 Yr. CAGR %	53.17	31.85	15.02	-10.08	-23.64
Normalized Net Income, 2 Yr. CAGR %	89.22	45.55	24.94	-2.91	-22.42
Diluted EPS Before Extra, 2 Yr. CAGR %	55.63	27.62	8.35	-11.27	-24.02
Accounts Receivable, 2 Yr. CAGR %	-5.42	5.81	9.8	23.23	17.26
Inventory, 2 Yr. CAGR %	3.74	12.28	11.03	12.99	16.55
Net Property, Plant and Equip., 2 Yr. CAGR %	19.17	8.83	-2.52	-4.88	-1.21
Total Assets, 2 Yr. CAGR %	5.98	15.71	19.16	2.28	3.48
Tangible Book Value, 2 Yr. CAGR %	12.64	28.77	26.84	3.67	9.39
Common Equity, 2 Yr. CAGR %	12.1	27.77	26.12	5.3	11.59
Cash From Operations, 2 Yr. CAGR %	63.03	14.65	6.01	-	-11.11
Capital Expenditures, 2 Yr. CAGR %	27.45	-58.11	-59.4	-	53.79
Levered Free Cash Flow, 2 Yr. CAGR %	349.46	265.29	19.04	-	-52.34
Unlevered Free Cash Flow, 2 Yr. CAGR %	317.59	256.34	19.9	-	-52.94
Dividend Per Share, 2 Yr. CAGR %	41.42	29.1	22.47	9.54	0
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	0.51	1.97	7.67	7.13	7.9
Gross Profit, 3 Yr. CAGR %	10.93	9.85	11.89	5.53	9.44
EBITDA, 3 Yr. CAGR %	24.42	38.56	35.28	11.81	0.38
EBITA, 3 Yr. CAGR %	59.43	87.09	47.31	10.46	-3.04
EBIT, 3 Yr. CAGR %	63.02	89.82	47.45	10.64	-3.48
Earnings From Cont. Operations, 3 Yr. CAGR %	107.54	54.46	23.64	11.04	-12.94
Net Income, 3 Yr. CAGR %	109.79	51.05	16.12	5.9	-19.32
Normalized Net Income, 3 Yr. CAGR %	60.99	66.4	36.98	6.65	-9.95
Diluted EPS Before Extra, 3 Yr. CAGR %	115.26	49.11	11.79	2.52	-20.88
Accounts Receivable, 3 Yr. CAGR %	-1.72	-2.92	9.7	15.8	17.47
Inventory, 3 Yr. CAGR %	6.26	7.44	10.48	13.73	13.26
Net Property, Plant and Equip., 3 Yr. CAGR %	16.28	12.08	4.32	-3.56	-2.2
Total Assets, 3 Yr. CAGR %	3.56	10.66	16.37	8.07	8.02
Tangible Book Value, 3 Yr. CAGR %	6.97	20.17	24.95	13.7	12.07
Common Equity, 3 Yr. CAGR %	5.93	19.26	24.37	14.39	13.63
Cash From Operations, 3 Yr. CAGR %	113.21	54.69	1.98	-	-13.93
Capital Expenditures, 3 Yr. CAGR %	8.56	-40.48	-39.38	-	44.27
Levered Free Cash Flow, 3 Yr. CAGR %	-13.79	230.23	119.71	-	-43.48
Unlevered Free Cash Flow, 3 Yr. CAGR %	-13.88	215.71	116.28	-	-43.92
Dividend Per Share, 3 Yr. CAGR %	25.99	35.72	25.99	14.47	6.27
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	0.88	1.46	4.32	4.35	6.31
Gross Profit, 5 Yr. CAGR %	4.27	4.71	10.97	8.72	8.84
EBITDA, 5 Yr. CAGR %	5.3	12.12	27.74	22.35	13.98
EBITA, 5 Yr. CAGR %	7.81	16.95	50.5	44.93	16.12
EBIT, 5 Yr. CAGR %	8.35	17.08	52.49	46.79	15.54
Earnings From Cont. Operations, 5 Yr. CAGR %	6.47	21.27	70.21	26.08	4.32
Net Income, 5 Yr. CAGR %	6.96	19.54	64.96	22.75	-1.81
Normalized Net Income, 5 Yr. CAGR %	7.57	20.69	45.47	34.14	9.12
Diluted EPS Before Extra, 5 Yr. CAGR %	9.33	20.04	63.58	21.15	-4.21
Accounts Receivable, 5 Yr. CAGR %	-0.33	1.63	2.74	6.8	12.66
Inventory, 5 Yr. CAGR %	5.26	7.29	8.14	9.62	12.87
Net Property, Plant and Equip., 5 Yr. CAGR %	15.85	14.85	8.36	4.96	2.07
Total Assets, 5 Yr. CAGR %	5.99	5.67	9.54	7.23	11.03
Tangible Book Value, 5 Yr. CAGR %	4.38	10.15	14.51	13.27	18.47
Common Equity, 5 Yr. CAGR %	4.2	9.36	13.58	13.47	19.09
Cash From Operations, 5 Yr. CAGR %	18.28	12.65	61.22	-	-3.47
Capital Expenditures, 5 Yr. CAGR %	50.98	-9.57	-26.75	-	-12.03
Levered Free Cash Flow, 5 Yr. CAGR %	48.06	12.41	-1.91	-	19.23
Unlevered Free Cash Flow, 5 Yr. CAGR %	46.31	12.34	-1.69	-	17.5
Dividend Per Share, 5 Yr. CAGR %	14.87	20.11	24.57	24.57	14.87