Japanese figure manufacturer Kotobukiya Co. posted essentially flat results for fiscal 2025, as US tariff policies that took effect throughout the year disrupted shipments to its largest overseas market during the second half.
The Tokyo-listed company reported revenue of ¥16.52 billion ($110 million) for the year ended June, up just 0.8% from the previous period. Operating profit declined 2.8% to ¥1.61 billion ($10.7 million), while net income slipped 1.1% to ¥1.091 billion ($7.2 million).
The comprehensive tariff slate that took effect throughout 2025 has imposed duties on a wide variety of products, including toys from Japan. For Kotobukiya, which generates significant revenue from North American sales of anime figures and plastic models, the trade restrictions proved particularly disruptive during the second half when anticipated shipments failed to materialize.
The company’s performance was buoyed by its proprietary “Megami Device” series of buildable robot girl figures, which continued to resonate with collectors in both domestic and Asian markets. Several new character releases in the line contributed to growth in plastic model sales, helping offset weakness in traditional figure categories where the company struggled to replicate previous hit products.
Kotobukiya’s domestic retail operations showed resilience, with the opening of a new Namba store and continued strength in VTuber-related merchandise. Tourist spending also provided a boost as international visitors returned to Japan in greater numbers.
The Asia region, particularly China, emerged as a bright spot where Megami Device products gained traction. The company strengthened local partnerships to build brand recognition in these markets, though the expansion comes as anime merchandise manufacturing shifts away from China due to rising tariffs.
Looking ahead, Kotobukiya announced it will transition to consolidated financial reporting starting fiscal 2026, reflecting the growing importance of overseas subsidiaries. The company projects consolidated revenue of ¥18 billion and operating profit of ¥1.7 billion for the coming year, though these forecasts likely assume some normalization in US trade conditions.
The shift to consolidated reporting marks a new phase for the 55-year-old company as it navigates an increasingly complex global trade environment while competing in the rapidly expanding anime merchandise market, which is projected to grow at 9.3% annually through 2030.
