Kotobukiya Co., the Japanese toymaker known for anime figurines and model kits, reported a quarterly loss as sales declined amid intensifying competition in its core markets.
The Tokyo-based company posted a net loss of ¥53.9 million ($359,000) in the first quarter ended September, compared with a profit of ¥81.3 million a year earlier. Sales dropped 14.5% to ¥2.97 billion, according to a statement Thursday.
The maker of collectible figures and plastic models struggled with slower sales in North America, where revenue plunged 20% as the company failed to meet customer demand with its product lineup. Domestic sales, which account for about 74% of revenue, fell 16.3%.
Competition has intensified in the female character model kit market, while the company’s figure division saw fewer hit products compared to the previous year. The poor performance comes despite stable demand from foreign tourists at retail stores and steady sales of VTuber-related merchandise.
Kotobukiya maintained its full-year forecast, expecting net income of ¥1.15 billion on sales of ¥17 billion, citing planned product releases concentrated in the second half. The company is focusing on developing new products based on its own intellectual property to drive growth.
The shares have declined 4.7% this quarter. The company maintained its planned year-end dividend of ¥40 per share.
