Note that this is a follow up to the article: A Slightly Rough Start for IG Port, but All Indicators are Positive for its Fiscal Year 2022 Quarter 1 Performance which was published on October 16, 2021.
IG Port, Inc., the parent company of Production I.G, Wit Studio, Signal.MD and the publishing company, Mag Garden have reported weaker profit from the same quarter of last year despite seeing its strongest sales since the fiscal year of 2012. Sales are up year-on-year for quarter two by 8.00% to 5,588,063,000 yen (≈48.76 million USD) while profit is down by 44.87% to 324,449,000 yen (≈2.83 million USD) amid disappointing performance by its Video Production and Other businesses.
Its Video Production for the period between June 1 to September 30 of 2021 sees the production of several titles such as Ousama Ranking (Wit Studio), Platinum End (Signal.MD), and in addition the distribution of Star Wars: Visions. The drop in profit despite consistent sales was attributed to longer production period which the company noted was to emphasize quality and had resulted the segment to be in the red of 81,399,000 yen (≈710.58 thousand USD). Nevertheless, the company is upbeat that it is able to turn around the situation as it expects to see increasing operating profit from the next quarter.
The Publishing business on the other hand, is its best segment for the year and has reported consistent operating profit since fiscal year of 2015. As of quarter two of fiscal year 2022, the segment saw its best highest sales ever at 1,356,475,000 yen (≈11.84 million USD), up by 32.21% from last year, resulting to an operating profit of 366,563,000 yen (≈3.20 million USD). Note, releases such as Mahoutsukai no Yome Volume 16, Reincarnation no Kaben Volume 14 and Madougushi Dahlia wa Utsumukanai Volume 4 were among those mentioned.
IG Port continues to record sales from the distribution of titles such as: Kaizoku Oujo, Shingeki no Kyojin, Great Pretender, Haikyuu!! and Koukaku Kidoutai via its Copyright business, but the increase in depreciation cost for video masters and content assets from the previous year has caused less operating profit recorded for the period. Net sales are up by 8.33% to 1,357,784,000 yen (≈11.85 million USD), at the same time, operating profit has fallen to 330,577,000 yen (≈2.89 million USD) from prior year’s 459,564,000 yen (≈4.01 million USD).
Other business which comprises magazine illustration, sales of character merchandise, smartphone application has seen its third consecutive operating loss. Net sales shrank by 3.68% to 113,919,000 yen (≈994.29 thousand USD), and operating loss widened to 42,392,000 yen (≈370.00 thousand USD).
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.
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