Sanrio Co Ltd

8136: XTKS (JPN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Sanrio: Growth Prospects Beyond Hello Kitty; Initiating Coverage at JPY 5,900 With Narrow Moat

Pujance Chan

Jun 13, 2025

We initiate coverage of Sanrio, a Japanese firm best known for character merchandise, most famously Hello Kitty. Sanrio has an asset-light model, due to royalties making up about half of total revenue.

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United States

Sanrio Co Ltd

Sanrio: Growth Prospects Beyond Hello Kitty; Initiating Coverage at JPY 5,900 With Narrow Moat

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