PIA Corporation, Japan’s dominant ticketing platform, posted a striking 253% jump in operating profit for the first quarter as Osaka-Kansai Expo ticket sales and surging demand for concerts and festivals drove transaction volumes to record highs.
The Tokyo-based company reported operating profit of ¥2.35 billion ($16 million) for the three months ended June, compared with ¥666 million a year earlier. Revenue climbed 33% to ¥13.67 billion ($91 million), while net profit more than doubled to ¥1.56 billion ($10 million).
Japan’s entertainment market has rebounded strongly following pandemic disruptions, with concert ticket sales reaching ¥514 billion in 2023 as consumers prioritize experiences over material purchases. PIA, which operates the country’s largest online ticketing system, handled transactions worth more than ¥85 billion ($567 million) during the quarter – its highest quarterly level ever.
The surge was driven by major international artist tours including Lady Gaga, Travis Scott, and Billie Eilish, alongside popular Japanese acts like ONE OK ROCK and Mrs. GREEN APPLE. Large-scale festivals including Rock in Japan and Animelo Summer Live also contributed to the strong performance.
Ticket sales for the Osaka-Kansai Expo, which opened in April and runs through October, provided an additional revenue stream. The World Expo, Japan’s first international exposition in two decades, has attracted strong visitor interest despite complex advance reservation requirements.
PIA’s margins expanded significantly as the company absorbed wage increases of approximately 7% and investments in new business development. The strong results allowed the ticketing specialist to clear accumulated losses from the COVID-19 period, improving prospects for dividend resumption.
The company maintained its full-year forecast, projecting revenue of ¥47 billion ($313 million) and operating profit of ¥3.4 billion ($23 million) for the fiscal year ending March 2026. Management expects continued momentum from major sporting events, theatrical productions, and sustained international artist activity.
Founded in 1972, PIA processes more than 75 million tickets annually through its network of online platforms, convenience stores, and physical outlets. The company benefits from Japan’s position as the world’s second-largest music market, where domestic acts comprise roughly 90% of concert ticket sales.
