IG Port, Inc. the parent company of which it wholly owns Production I.G., Inc., Mag Garden Corporation, SIGNAL.MD, Inc. has reported its best ever third quarter sales and profit to date. For the fiscal year 2022, it witnessed a 19.39% jump in sales to 8,552,550,000 yen (≈66.67 million USD) from 6,894,398 yen (≈53.74 million USD) the fiscal year before and profit grew by 31.08% to 619,939,000 yen (≈4.83 million USD) from 427,274,000 yen (≈3.33 million USD) thanks to stellar performances of its Publishing and Copyright businesses. Its Video Production business, however, remains under great stress.
Despite the jump in net sales, the Video Production business reported yet another loss for the third quarter, but narrowed by 29.90% to see a loss of 33,523,000 yen (≈261.30 thousand USD) due to a toughening situation its group of companies is facing with regards to soaring production costs and the prolonged period of production. However, IG Port reassured that it has noted some improvement for some of its delivered works thanks to new orders. Note that for the fiscal year, the Video Production business was involved in the following projects: Ousama Ranking and Platinum End which ended broadcast recently (the third quarter for fiscal year 2022 ran from June 1 and February 28). It has also derived sales from the production of upcoming streaming content involving titles: Koukaku Kidoutai: SAC_2045 and Ultraman Season 2, plus the film Bubble which is set to premiere this coming April the 28th.
One more thing to note here would be that Wit Studio (IG Port owns it by 66.7%) belongs to its Video Production business. Last year, I reported the difficult situation the studio is in, having reported massive losses for the fiscal year 2021. Although the third quarter performance looks rather bleak for now, I do think that the situation can be turned around for the segment, but it remains to be seen if the same will happen to Wit Studio considering the amount of loss it incurred for the fiscal year 2021. Thankfully, it may not be as bad as it looks. The studio does have a number of projects under its belt such as: Vivy: Fluorite Eye’s Song, Ousama Ranking, Totsukuni no Shoujo, Spy x Family, Bubble etc. which can help reinvigorate the studio’s financial distress (most likely narrowing its loss for the fiscal year 2022). While it may not be able to derive sales to recoup its losses, IG Port will see great results from its Copyright business. This can balance out the losses incurred by the studio.
And as I have mentioned before, the group’s Copyright business is performing very well to see record sales for the third quarter. Net sales grew 13.77% to 1,797,819,000 yen (≈14.04 million USD) from 1,550,195,000 yen (≈12.11 million USD) the fiscal year before whereas operating profit increase by 25.18% to 566,439,000 yen (≈4.42 million USD) from 423,798,000 (≈3.31 million USD). Here, the group is deriving its sales from titles such as Kaizoku Oujo, Shingeki no Kyojin, Great Pretender, Haikyuu!!, Koukaku Kidoutai etc.
Note that the fiscal year 2021 saw Great Pretender emerging as IG Port’s biggest title earner at 348 million yen (≈2.72 million USD) while B: The Beginning and Shingeki no Kyojin were the 2nd and 3rd largest respectively. Expect to see some changes due to the inclusion of newer projects.
Its Publishing business on the other hand continues to get better year-on-year after a drop it faced between the fiscal years of 2018 and 2019. The segment experienced a challenging time from the fiscal years 2012 to 2014, recording consistent losses, the heaviest being for the fiscal year 2013. Ever since then, the segment has been reporting profit, and for the fiscal year 2022, it achieved its best operating profit so far at 516,627,000 yen (≈4.03 million USD). Net sales have significantly climbed from 1,429,315,000 yen (≈11.15 million USD) to 1,948,620,000 yen (≈15.20 million USD).
The group has published 85 books for the quarter among those are: Mahoutsukai no Yome Volume 16, Reincarnation no Kaben Volume 15, Tensei Kizoku no Isekai Boukenroku Volume 7 etc. It also noted that sales of titles such as Reincarnation no Kaben and Madougushi Dahlia wa Utsumukanai were particularly strong, and sales of e-books have been said to have witnessed a 70% increase year-on-year, accounting to 60% of its sales.
Finally, its Other business reported yet again another loss for the quarter as operating loss increased by 72.55% from 6,556,000 yen (≈51.17 thousand USD) to 23,883,000 yen (≈186.40 thousand USD), being one of the only two segments to be in the red for the quarter after Video Production business. That said, its net sales grew by 23.36% to 233,151,000 yen (≈1.82 million USD) from 178,695,000 yen (≈1.39 million USD) the prior fiscal year.
IG Port, Inc. is incorporated in Japan with its head office in Musashino-shi. It is listed on the Tokyo Stock Exchange under ticket symbol: 3791.
Note: All currency conversion were done at the time of writing.
Sources:
Securities Report (Q3 FY2022)
Google Charts:
Overall Sales and Profit or Loss
Video Production Business
Publishing Business
Copyright Business
Other Business
Visualisation:
IG Port, Inc. Third Quarter FY2022 Performance
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