Toei Animation reports 15.5% revenue decline in Q1

Toei Animation reported Q1 net sales of 19.5bn yen, down 15.5% year-over-year, while operating profit declined 1.6% to 6.6bn yen. Net profit fell 1.4% to 5.2bn yen.

The downturn was driven by Film and Overseas Film segments, which dropped 40.4% and 30.2% respectively. However, Licensing revenue grew 5.1% and Other businesses surged 28.9%.

The company maintained its full-year forecast of 88bn yen in net sales and 19.1bn yen in net profit.