News Nikkei: Sanrio Is Now Debt-Free in Part Due to Crossovers
posted on 2013-02-12 23:57 EST
Sanrio's Executive Director Susumu Emori emphasized to Nikkei that the Sanrio company has become virtually debt free due to Hello Kitty copyright sales and cross-over merchandise, and income from copyrights now accounts for 40% of sales. By the end of 2012, the company's liquid assets exceeded the original interest-bearing liability; revenue from Hello Kitty apparel retail copyrights in North America paid back the majority of debt.
The famous cat is getting her own set of graphic novels by Viz Media this fall, a clothing line from Forever 21, and was also featured in a number of franchise crossovers like Street Fighter, Sonic the Hedgehog, Vocaloids, the rock band KISS, The Ring, and Evangelion over the past few years.