Sanrio's Intellectual Property Stays Resilient Through Macro Headwinds

Sanrio differentiates itself from peers in the toys and recreation industry by increasing the popularity of its character intellectual properties, or IPs, over the years through product sales, rather than relying on story content. For over 50 years, Sanrio has developed over 450 evergreen IPs that resonate with a wide demographic in Japan. As people encounter Sanrio products from a young age, they return to them and become fans as adults, and then pass this tradition on to the next generation of children.