IG Port, parent of animation studios Production I.G and WIT Studio, reported a 47.4% surge in Q3 operating profit to ¥1.24 billion ($11.1 million), driven by explosive growth in its licensing business while its animation studios faced mounting losses.
Revenue climbed 32.9% to ¥10.97 billion, with the company expecting to achieve record annual sales of ¥13 billion. However, net profit fell 11.2% to ¥713 million due to operational challenges.
The animation production segment posted a widening operating loss of ¥813 million despite 16.1% revenue growth, as rising costs for labor, CG development and outsourcing eroded margins. Recent productions include “Moonrise,” “Kaiju No. 8,” and “SPY×FAMILY.”
Licensing operations exploded with 109.2% revenue growth to ¥3.47 billion, with operating profit nearly doubling to ¥1.71 billion. The company credited theatrical releases of “Haikyu!!” and continued international distribution of “Attack on Titan” for the performance.
In a rare disclosure, IG Port revealed “Attack on Titan” has generated ¥2.19 billion in cumulative licensing revenue since 2016, followed by “Haikyu!!” (¥1.86 billion) and “Ghost in the Shell” (¥1.37 billion).
The results highlight the industry’s evolving economics, where production struggles with rising costs while licensing drives profitability. IG Port shares have risen 15% this year.
