Bushiroad Reports Losses in 2nd Quarter Due to COVID-19

3 weeks ago 22

posted on 2021-03-25 07:32 EDT by Rafael Antonio Pineda

Company reports 3.4% increase in overall revenue, but flagging performance in various sectors

Media company Bushiroad reported its second quarterly financial results on March 16, reporting an 8.026 billion (about US$73 million) revenue for the quarter, a 3.4% increase from the previous period. However, the company reported lower revenues from its smartphone games, television anime productions, and events (live concerts, pro wrestling) sector, the latter due largely to the new coronavirus disease (COVID-19) pandemic decreasing the amount of events that can be held.

The company reported a 158 million yen (about US$1.45 million) operating profit for the quarter, a 7.1% decrease from the previous period, and an ordinary income of 162 million yen (about US$1.49 million), a 7.2% decrease from the previous period.

The company's acquisition of the Hikosen Theater Company from last year, and the company's continuous postponement of shows in the past year, has led to a 191 million yen (about US$1.75 million) net loss for Bushiroad.

Takaaki Kidani founded Bushiroad in 2007. The company owns a number of cross-media franchises, some of which originate from its card games. Bushiroad's Cardfight!! Vanguard and Future Card Buddyfight series have both inspired long-running television anime series, and its Luck & Logic card game inspired two television anime series. Bushiroad also owns the Weiß Schwarz anime crossover card game. The company owns the Tantei Opera Milky Holmes franchise, as well as the BanG Dream! franchise, both of which have television anime series. The company also owns the Revue Starlight franchise, and both BanG Dream! and Revue Starlight have active smartphone games. Additionally, the company owns the New Japan Pro Wrestling promotion. Bushiroad acquired 8.2% of SANZIGEN Animation Studio in December 2019, and Bushiroad and Kadokawa each acquired a third of the shares of the studio Kinema Citrus in December 2019. Bushiroad acquired the Frontwing media company earlier this month.

Source: Animation Business Journal (Tadashi Sudo)

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