Animation powerhouse IG Port has reported its best financial results to date for the fiscal year ending May 2024, with consolidated sales rising 6.1% to ¥11.841 billion. The company announced on July 12, 2024, that operating profit increased by 23.6% to ¥1.225 billion, ordinary profit surged 38.1% to ¥1.38 billion, and net profit soared 51.1% to ¥1.158 billion.
The standout performer was the copyright business, with sales jumping 62.1% to ¥3.04 billion and operating profit skyrocketing 282.4% to ¥1.82 billion. Key contributors included successful theatrical releases of “Haikyu!!” and “SPY × FAMILY,” with earlier-than-expected recording of film rights sales boosting revenues. Overseas sales for these titles are also expected to grow, alongside other major works like “Attack on Titan.”
Despite these gains, the video production segment faced challenges. Comprising studios Production IG, WIT STUDIO, and Signal-MD, this division saw sales of ¥6.26 billion, up 1.6%, but suffered a significant operating loss of ¥940 million. The extended production periods and losses on several overseas projects were major factors, with rising production costs outpacing initial budgets.
The publishing business also saw a downturn, with sales falling 19.5% to ¥2.335 billion and operating profit decreasing 14.2% to ¥482 million. The closure of the digital comics segment, Lingua Franca, was a primary reason for the decline.
Looking ahead, IG Port is optimistic, forecasting record-high consolidated sales of ¥12.993 billion and an operating profit of ¥1.737 billion for the fiscal year ending May 2025. However, the video production segment is expected to remain in deficit due to increasing labor and rental costs. The company has also revised its mid-term plan, projecting substantial growth with sales reaching ¥14.466 billion and operating profit of ¥2.324 billion by the fiscal year ending May 2027.
IG Port’s strategy will focus on leveraging the continued success of its major series and introducing new intellectual properties to drive future growth.
