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IG Port Tops 10 Billion Yen in Annual Revenue for 1st Time

posted on by Rafael Antonio Pineda
Company earned 11.872 billion yen from June 2021 to May 2022

IG Port — the parent company of animation studios Production I.G, Wit Studio, Signal.MD, and publisher Mag Garden — revealed on Thursday that it recorded 11.872 billion yen (about US$85 million) in revenue for the period of June 2021 to May 2022, marking the first time the company has earned more then 10 billion yen in a single fiscal year. The company earned just shy of 10 billion yen last year, with 9.934 billion yen (about US$71 million) in revenue.

The company recorded an operating profit of 573 million yen (about US$4.12 million), a 17% reduction from the previous year. The company recorded an ordinary profit of 574 million yen (about US$4.12 million), a 22.6% reduction from the previous year. The company earned a total of 5 million yen (about US$35,983) in profit. While this this profit amount is a 99% year-on-year reduction, this is due to the company unifying its income from streaming projects and licensing sales with its amortization expenses, resulting in a temporary increase in taxable income, and resulting in temporarily lower net income, which should normalize in the next period.

The company's Production I.G anime studio plans to promote current executive vice-president George Wada to president and CEO. Current president and CEO Mitsuhisa Ishikawa will become the studio's chairman of the board. Ishikawa also serves as president and CEO of IG Port, and will continue to serve in that role after the change.

Sources: IG Port (link 2, link 3), Animation Business Journal (Tadashi Sudo)

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