IG Port has revised its full-year earnings forecast upward for FY 2024, reflecting a significant recovery in its financial outlook despite a slight dip in sales and operating income through the third quarter. The company now expects consolidated sales of 11,598 million yen, approaching the record set in FY 2022. Operating income is projected at 1,125 million yen, with ordinary and net incomes also surpassing the billion yen mark, setting new record highs.
The profit surge is largely attributed to the successful copyright business, particularly the global hit “SPY×FAMILY” produced by subsidiary WIT STUDIO. Both the ongoing series and its theatrical release, “SPY x FAMILY CODE: White,” significantly contributed to the revenue, with early recording of some theatrical sales initially scheduled for the next fiscal year.
However, the video production segment has faced setbacks, incurring a loss of 410 million yen as a result of increased production times and rising costs in CG and outsourcing. Despite these challenges, the copyright segment reported a 25.8% increase in sales, reaching 1,659 million yen, boosted by longstanding titles and newer releases.
Looking ahead, IG Port anticipates continued success with upcoming releases like “Haikyu!! Battle at the Garbage Dump” and “Kaiju No. 8,” among others. The company has also announced a stock split effective May 31, 2024, aimed at making share purchases more accessible following a significant increase in stock prices. The split reflects the company’s robust performance and investor confidence as it navigates both current successes and future ventures.
