Company Reports

Bandai Namco's June-quarter revenue rose 9.3% and operating income rose 33.3%, driven by continued strength in core franchises and higher margins in Toy and Hobby. Management raised first-half operating income guidance to 18% growth from a prior 20% decline, but full-year guidance is unchanged.

Bandai Namco differentiates itself from peers with an in-house cross-media strategy, focusing on maximizing the value of its intellectual properties by promoting them through games, animations, movies, and merchandise, in the most appropriate way for each region.

Bandai Namco differentiates itself from peers with an in-house cross-media strategy, focusing on maximizing the value of its intellectual properties by promoting them through games, animations, movies, and merchandise, in the most appropriate way for each region.

Bandai Namco differentiates itself from peers with the in-house cross-media strategy, focusing on maximizing the value of its intellectual properties by promoting them through games, animations, movies, and merchandise, in the most appropriate way for each region.

Bandai Namco’s fiscal 2025 revenue and operating profit rose 8.6% and 5.2%, respectively, driven by strong Gundam momentum. Management guides fiscal 2026 revenue growth of 0.1% and a 2.4% operating profit decline, mainly due to material cost inflation.

Bandai Namco differentiates itself from peers with the in-house cross-media strategy, focusing on maximizing the value of its intellectual properties by promoting them through games, animations, movies, and merchandise, in the most appropriate way for each region.

Bandai Namco differentiates itself from peers with the in-house cross-media strategy, focusing on maximizing the value of its intellectual properties, or IPs, by promoting them through games, animations, movies, and merchandise, in the most appropriate way for each region.

Bandai Namco's December-quarter revenue grew by 4% and operating profit declined by 21%, due to higher promotion and amortization costs for new console titles this year. 2025 guidance for revenue and operating income was raised by 4% and 10% to JPY 1.3 trillion and JPY 181 billion, respectively.

Bandai Namco differentiates itself from peers with the in-house cross-media strategy, focusing on maximizing the value of its intellectual properties, or IPs, by promoting them through games, animations, movies, and merchandise, in the most appropriate way for each region.

Bandai Namco's revenue grew 3.8%, but operating income fell 23.1% in the September quarter, due to an increase in upfront costs in digital business. Guidance for 2025 revenue and operating income was raised to JPY 1.25 trillion and JPY 165 billion, from JPY 1.2 trillion and JPY 145 billion before.

Bandai Namco differentiates itself from peers with the in-house cross-media strategy, focusing on maximizing the value of its intellectual properties, or IPs, by promoting them through games, animations, movies, and merchandise, in the most appropriate way for each region.

Bandai Namco's June quarter revenue and operating income grew by 7.1% and 17.9%, respectively, attributable to 81% growth in the Gundam franchise across segments.

Capcom, Bandai Namco, and Nexon revealed release dates and trailers for several new game titles during the PlayStation State of Play June 2025 and Summer Game Fest 2025 livestreams.

Bandai Namco differentiates itself from peers with the in-house cross-media strategy, focusing on maximizing the value of its intellectual properties, or IPs, by promoting them through games, animations, movies, and merchandise, in the most appropriate way for each region.

Bandai Namco's fiscal year 2024 (ending March 2025) results were in line with guidance. For fiscal 2025, the company expects revenue and operating income to decline by 3.3% and 19.5%, respectively, due to a weaker game lineup versus last year.

We initiate coverage of Bandai Namco, one of the top entertainment companies in Japan, with a narrow moat rating and fair value estimate of JPY 5,000 per share. Our narrow moat rating is based on Bandai Namco’s intangible assets arising from over 400 widely popular characters and intellectual properties, or IPs, that it has produced and distributed over the past few decades. In particular, its top three franchises—Gundam (1979), Dragon Ball (1984), and One Piece (1997) account for nearly 40% of total sales. We believe Bandai Namco will continue to generate returns above its cost of capital for at least the next decade through leveraging 1) its long track record as one of the top toy and game companies in Japan, 2) its long-term partnerships with Japanese entertainment companies, and 3) its unique ecosystem of games, merchandise, animation, and amusement facilities.

Bandai Namco differentiates itself from peers with the in-house cross-media strategy, focusing on maximizing the value of its intellectual properties, or IPs, by promoting them through games, animations, movies, and merchandise, in the most appropriate way for each region.