Bandai Namco Holdings (7832): FY2025 Results Summary — Record Net Sales and Operating Profit on Gundam-Driven Growth

This article is based on publicly available IR materials and is not a recommendation to buy or sell any specific securities.

Note: Bandai Namco labels the fiscal year ended March 31, 2026 as ‘FY2026.3’ in its own materials; the tables and figures below follow the company’s labels.

Bandai Namco Holdings Inc. reported consolidated results for the fiscal year ended March 2026 (FY2026.3), with net sales of 1,348.2 billion yen (up 106.7 billion yen year on year) and operating profit of 189.5 billion yen (up 9.3 billion yen year on year), both record highs and above the previous forecast issued in February. Profit attributable to owners of parent came to 140.6 billion yen, up 11.3 billion yen year on year and 10.6 billion yen above forecast. The company described the results as a solid start to the first year of its new Mid-term Plan, with significant growth in sales from the Gundam series.

Consolidated Results (Full-Year Actual)

Net sales, operating profit, ordinary profit, and profit attributable to owners of parent all exceeded both the previous fiscal year’s results and the previous forecast (issued in February). Figures below are in billion yen.

Item	FY2025.3 Results	FY2026.3 Previous Forecast (Feb)	FY2026.3 Results	Vs. Previous FY	Vs. Previous Forecast
Net Sales	1,241.5	1,300.0	1,348.2	+106.7	+48.2
Operating Profit	180.2	181.0	189.5	+9.3	+8.5
Ordinary Profit	186.4	190.0	201.9	+15.5	+11.9
Profit Attributable to Owners of Parent	129.3	130.0	140.6	+11.3	+10.6

Segment Results

Toys and Hobby posted record-high results on strong performance across all categories, including significant growth in Gundam series sales, despite the impact of certain tariffs primarily in the first half; the company is also strengthening its production structure for future growth. Digital saw strong performance in network content, with stable results from existing titles and solid contributions from a new title, while home console games benefited from strong results for ELDEN RING NIGHTREIGN and a new DIGIMON title, though segment profit was affected by changes in the title lineup versus the prior year. Visual and Music benefited from widespread groupwide impact from the popularity of the new Gundam series title Mobile Suit Gundam GQuuuuuuX and from strong global rollouts of legacy Gundam series titles and works such as One-Punch Man. Amusement saw robust performance at facilities such as Bandai Namco Cross Stores and THE JOJO★WORLD, with existing-store sales in Japan up 7.0% year on year, and widespread popularity of updated Gundam series amusement machines, while also recording expenses related to the Expo 2025 Osaka, Kansai, Japan exhibition.

Segment	Metric	FY2025.3 Results	FY2026.3 Results	Vs. Previous FY
Toys and Hobby	Segment sales	596.9	673.9	+77.0
Toys and Hobby	Segment profit	102.2	126.9	+24.7
Digital	Segment sales	455.6	476.5	+20.9
Digital	Segment profit	68.5	56.6	-11.9
Visual and Music	Segment sales	90.7	95.5	+4.8
Visual and Music	Segment profit	11.7	12.1	+0.4
Amusement	Segment sales	141.4	152.7	+11.3
Amusement	Segment profit	8.4	10.1	+1.7
Other	Segment sales	36.2	38.9	+2.7
Other	Segment profit	1.6	2.8	+1.2
Elimination and Corporate	Segment sales	-79.5	-89.5	-10.0
Elimination and Corporate	Segment profit	-12.3	-19.2	-6.9
Consolidated	Net sales	1,241.5	1,348.2	+106.7
Consolidated	Operating profit	180.2	189.5	+9.3

FY2027.3 Forecast

For FY2027.3, the company forecasts net sales of 1,350.0 billion yen, aiming for another record high, while operating profit, ordinary profit, and profit attributable to owners of parent are each forecast to decline from the FY2026.3 results. The company plans to promote various initiatives to swiftly respond to rising raw material and logistics costs. Figures below are in billion yen.

Item	FY2026.3 Results	FY2027.3 Forecast	Vs. Previous FY
Net Sales	1,348.2	1,350.0	+1.8
Operating Profit	189.5	185.0	-4.5
Ordinary Profit	201.9	190.0	-11.9
Profit Attributable to Owners of Parent	140.6	130.0	-10.6

Segment	Metric	FY2026.3 Results	FY2027.3 Forecast	Vs. Previous FY
Toys and Hobby	Segment sales	673.9	690.0	+16.1
Toys and Hobby	Segment profit	126.9	127.0	+0.1
Digital	Segment sales	476.5	460.0	-16.5
Digital	Segment profit	56.6	51.0	-5.6
Visual and Music	Segment sales	95.5	95.0	-0.5
Visual and Music	Segment profit	12.1	12.0	-0.1
Amusement	Segment sales	152.7	155.0	+2.3
Amusement	Segment profit	10.1	10.0	-0.1
Other	Segment sales	38.9	40.0	+1.1
Other	Segment profit	2.8	1.5	-1.3
Elimination and Corporate	Segment sales	-89.5	-90.0	-0.5
Elimination and Corporate	Segment profit	-19.2	-16.5	+2.7
Consolidated	Net sales	1,348.2	1,350.0	+1.8
Consolidated	Operating profit	189.5	185.0	-4.5

Shareholder Returns

FY2026.3 annual dividends were 73 yen per share, consisting of a base dividend of 46 yen and a performance-based dividend of 27 yen, for a total payout ratio of 51.0%. The company’s basic policy is to further strengthen the Group’s competitiveness and rank appropriate profit returns to shareholders as one of its highest management priorities, with a basic policy of a total return ratio of 50% or higher: implementing long-term stable dividends with a minimum DOE (dividend on equity) of 3.60%, and acquiring treasury shares as appropriate with awareness of capital cost. The shareholder return policy under the next Mid-term Plan is under consideration, in line with the Group’s basic policy on shareholder returns. On treasury share purchases, the company set a total of 6,000,000 shares to be acquired for a total value of 24,757,598,600 yen, over an acquisition period of February 6, 2026 to March 24, 2026, and subsequently cancelled 5 million shares on April 30, 2026.

Medium-Term Plan / Topics

In its review of FY2026.3, the first year of its new Mid-term Plan, the company highlighted that it maximized the value of the Gundam IPs, generating strong interest and promoting IP-by-category-by-region strategies, and achieved record-high net sales. It also held an exhibition at Expo 2025 and promoted 360-degree collaborations with partners centered on CW360.

Key topics for FY2027.3 by business include, in Toys and Hobby: aiming for record-high performance for a ninth consecutive year, expanding IP lineups, categories, areas of operation, and fan touchpoints (including the GUNDAM ASSEMBLE miniature game series, a new model-kit factory raising production capacity by 35% versus FY2024.3, and expansion of directly operated THE GUNDAM BASE stores overseas), while forecasting rising raw material and logistics costs. In Digital: planned title releases including DRAGON BALL XENOVERSE 3 in 2027, a live-action ELDEN RING film currently in production, large-scale DLC for DRAGON BALL Sparking!! ZERO in summer 2026, and ACE COMBAT 8 during 2026, with upfront costs for new home console titles concentrated in the second half of the fiscal year. In Visual and Music: release of Mobile Suit Gundam Hathaway: The Witch of Circe in North America, approval of production for SEED FREEDOM ZERO, and the start of filming for a live-action GUNDAM movie, alongside a reorganization of the Music Business — including Bandai Namco Music Live Inc., the renaming of Bandai Namco Music Frontier Inc. in April 2026, a spin-off of the music publishing business, a strategic partnership with UDO ARTISTS Inc., and the start of Shibuya LOVEZ operations in June 2026. In Amusement: continued development of new machines for popular series and IPs, expansion of directly operated stores overseas, and a forecast of 4% year-on-year sales growth at existing facilities in Japan.

This article is an analysis based on publicly available information and is not a recommendation to buy or sell any specific securities. Investment decisions are your own responsibility.