Mandarake Inc., Japan’s largest anime and manga collectibles retailer, reported a 62% drop in first-quarter profit after setting aside funds for executive retirement benefits.
Net income fell to ¥145 million ($970,000) in the three months ended December, while operating profit declined 44% to ¥320 million ($2.1 million), the Tokyo-based company said Wednesday. Sales rose 6.1% to ¥3.76 billion ($25.1 million), supported by growth in e-commerce and international markets.
The company recorded a one-time provision of ¥188 million ($1.25 million) for executive retirement benefits after establishing new compensation guidelines. Despite the profit decline, Mandarake maintained its full-year forecast of ¥1.5 billion ($10 million) in net income, suggesting confidence in its expansion strategy.
The retailer opened a new store, Mandarake PUCK1, in Kobe last November, attracting increased foot traffic from both domestic and overseas customers. Its digital initiatives, including a recently launched storefront on Mercari Shops and the company’s proprietary online auction platform, have shown steady growth.
Mandarake expects revenue to reach ¥15 billion ($100.2 million) in the fiscal year ending September 2025, up 3.8% from the previous year. The company trades at 8.6 times projected earnings.
