Shochiku Co. has reported a robust recovery in its financial results for the fiscal year ending February 2024, with consolidated sales increasing by 9.2% to 85.4 billion yen. The company’s turnaround was marked by an operating income of 3.6 billion yen, a significant improvement from the previous year’s loss.
The resurgence is largely attributed to the performance of Shochiku’s video-related business, which saw sales rise by 11.0% to 45.8 billion yen, contributing over half of the total revenue. This segment successfully returned to profitability, with operating income reaching 2.6 billion yen, rebounding from a substantial loss the previous year. Highlighting this success were major hits such as “Mobile Suit Gundam SEED FREEDOM” and “On the Hill Where Flowers Bloom, If I Met You Again.”
The company also reported a diverse portfolio of distributions, including 9 Japanese films, 4 Western films, and an increasing focus on 9 anime films. New initiatives in cinema such as Kabuki and MET Live Viewing also showed vigorous activity, enriching Shochiku’s theatrical offerings.
Despite challenges, the theater business experienced growth with a 7.4% increase in sales to 24.4 billion yen, although it still reported an operating loss. However, the loss was an improvement over the previous fiscal year.
Shochiku’s real estate business continued to perform well, posting a 6.8% increase in sales to 12.8 billion yen and a 7.8% increase in operating income, drawing attention to its strategic redevelopment plans in the Higashi Ginza area.
Overall, Shochiku’s recovery reflects a broader resurgence in entertainment and real estate, positioning the company for further growth as Japan continues to rebound from the coronavirus pandemic.
