Sanrio Shares Drop 18% After Profit Miss Despite Record Revenue
Sanrio’s shares fell about 18% after its first-quarter profit missed expectations, despite record results. Revenue rose 20.7% year over year to ¥52.04 billion and operating profit increased 11.1% to ¥22.44 billion. The company forecasts 18.4% revenue growth for FY ending March 2027, driven mainly by overseas expansion, while domestic character IP and merchandise sales continued to strengthen.