Here some anon in towa posted this shit make of it what you will
Here’s a concise summary of the PDF — “Financial Results for FY2026/3 Q1” (for the three months ended June 30, 2025) from COVER Corporation:
Financial Highlights (FY2026/3 Q1 vs. FY2025/3 Q1)
Revenue: ¥9,629 million (+50.1% YoY)
Gross Profit: ¥4,907 million (+47.6%)
Marginal Profit: ¥4,152 million (+39.9%)
Operating Profit: ¥972 million (+16.5%)
Net Profit: ¥693 million (+11.9%)
By segment
Streaming/Content: ¥2,175M (+6.9%)
Concerts/Events: ¥433M (+24.0%)
Merchandising: ¥5,838M (+99.2%) — major driver of revenue growth
Licensing/Collaborations: ¥1,182M (+7.4%)
First-half forecast progress
Revenue: 42.3% of target (¥22,750M)
Marginal Profit: 46.0% of target (¥9,021M)
Operating Profit: 40.2%
Net Profit: 41.3%
Business & Operational Developments
Merchandising: The “hololive OFFICIAL CARD GAME” significantly boosted Q1 results. Despite North American tariff challenges slowing EC sales of other merchandise, recovery is underway. English-version TCG launched in July, with plans to expand through tournaments and in-store events
Events & Streaming: Streaming revenue was slightly down QoQ due to fewer events and retirements; however, new performers and stronger overseas content helped maintain YoY audience growth. A summer content push including “holo Summer Paradise” and linked events with merch rollout is planned. Two mid-sized concerts in Japan and a global concert tour are scheduled for July–December
Licensing & Partnerships: Expanded collaborations with globally popular mobile games and foodservice franchises, especially in North America and Asia. Participation in Licensing Expo in Las Vegas led to over 130 business meetings thanks to licensing growth abroad
Logistics & Tech: Opened a consolidated logistics center on June 23 to improve delivery speed and cost efficiency. Advances in expressive technology (e.g., Unreal Engine VR concerts, simple mocap) and Holoearth avatar environment boosted user engagement and experience
HR & Organization: Reorganized with new executive officer structure, updated personnel recruitment, promotion, and evaluation systems. Cost optimization efforts reduced SaaS/hardware expenses by ¥25M in Q1, expecting an annual saving of ¥70M. Enhanced project governance and resource allocation systems were also introduced
Medium-Term Outlook (FY2026/3 to FY2030/3)
Targets by FY2030/3:
Revenue: ¥100 billion
Operating Profit: ¥25 billion
Strategy:
Invest ¥50 billion (organic growth, M&A) over the next five years
Focus on overseas expansion, digital content, optimized logistics, and VTuber IP exploitation
Maintain cash buffers and consider shareholder returns based on performance
Snapshot – Key Financial Metrics (YTD Q1 FY2026/3)
Metric Value (¥M) YoY Growth
Revenue 9,629+50.1%
Gross Profit 4,907+47.6%
Operating Profit 972+16.5%
Net Profit 693 +11.9%
In summary, COVER Corporation delivered strong YoY revenue and profit growth in Q1, powered largely by the explosive rise in merchandising (especially TCG). Despite short-term headwinds like tariffs and seasonal event slowdowns, the company is laying strategic foundations—through technology, overseas expansion, and operational efficiencies—for aggressive growth over the medium term.
