I.G Port Crosses 10 Billion Yen Revenue Milestone For The First Time

I.G Port Crosses 10 Billion Yen Revenue Milestone For The First Time

July 22, 2022

The parent company of Wit Studio and Production I.G, I.G Port, revealed that they have earned 11.872 billion yen revenue in previous fiscal year i.e June 2021 to May 2022. This is the first time ever I.G Port achieved this milestone.

The company has clocked in operating profit of 573 million yen and ordinary profit of 574 million yen which is a 17% and 22.6% reduction from previous year, respectively.

In addition, the video production business of the company was down for 402 million yen due to delayed delivery of large-scale works.

The company earned total profit of 5 million yen which is a 99% year-on-year reduction. This was due to unification of the companies income from streaming projects and licensing sales. The temporary increase in the tax-expenses are also responsible for the profits to go down this year. However, this will be balanced next year.

However, the copyright business sales has earned 2,932 million yen in revenue, an increase of 37.6%. The operating profit of copyright business is 590 million yen, an increase of 19.2%.

The company’s publishing business has also been raking in profits, which were up by 22.5%, earning them 2,646 million yen with an operating profit of 541 million yen, an increase of 31.9%. Along with publishing, the E-books sales ratio has also risen from 54% to 67% in this year.

The company has set goals for consolidated sales of 12.6 billion yen by the end of fiscal year ending on May 2025, with ordinary income of 1,069 million yen and net income of 756 million yen.

The company also promises to build a direct marketing strategy where they will spread awareness of the products and services they provide globally. They will also aim for a global business system for their digital products such as cross-border EC, E-books, and NFT’s.

In the fiscal year prior to this, the company almost touched the 10 billion mark by earning 9.934 billion yen.

Production I.G also recently announced that they plan to promote Attack On Titan producer George Wada to CEO and President of the studio. He is the current Executive Vice President.

While Wada takes the charge as CEO and President, the current CEO and President Mitsuhisa Ishikawa will be promoted to the studios Chairman of the board.

The power shift will take place on Aug 30 in the next shareholders meeting of the company.

Source: Animation Business Info

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