Kadokawa Corp 9468

Morningstar Rating

Initiating Coverage of Kadokawa With JPY 2,600 Fair Value Estimate

Business Strategy and Outlook

Kadokawa’s advantage lies in its large intellectual property, or IP, portfolio and media-mix strategy, which extends IP value across publishing, animation, film, games, streaming, and education. However, operating margins have remained in the low to midsingle digits for nearly two decades, reflecting a declining domestic publishing market and underdeveloped animation capabilities.

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