Marko Yamashita CH Q&A blog

Hololive Next Visual Aids ホロライブ NEXT — Visual Briefing A Shareholder's Perspective on Cover Corporation (5253.T) Reorganization Part 1 · Org Structure Part 2 · Headcount Part 3 · Creative Part 4 · ROIC Closing Part 1 Personnel & Management Layer The reorganization repairs fragmented operations — not talent identity. Three siloed branches → one unified pipeline. Before: Siloed Branches Cover Corp HQ (Tokyo) Central approvals bottleneck JP Branch Own sales, logistics, mgmt JP Studio 3D / recording JP Merch Own pipeline EN Branch Own sales, logistics, mgmt EN Support Cross-TZ coordination NA Office Physical infrastructure ID Branch Own sales, logistics, mgmt ID Support Separate admin layer ID Merch Own pipeline → ...

AnyColor Inc (5032) Q1 FY2027/4 Earnings Dashboard ANYCOLOR Inc. (5032.T) — Q1 FY2027/4 Quarterly Earnings Dashboard — May–July 2026 · Disclosed September 9, 2026 TSE Prime: ¥2,855 (-2.99%) Reporting Period: May 1 – July 31, 2026 Yamashita Family Think Tank Revenue (Net Sales) ¥16,620M +5.4% YoY Beat (+¥1,020M vs Guide) Operating Profit ¥6,390M -8.8% YoY Beat (+¥700M vs Guide) Operating Margin 38.5% -6.0 pt YoY (vs 44.4%) Beat (+1.95 pt vs Guide) Net Income ¥4,365M -10.6% YoY Beat (+¥468M vs Guide) ✅ Net Profit Margin Floor: 26.3% — PASS (12–14% structural floor) Clears the strict 12–14% net profit margin floor by over 1,200 bps. Down from 31.0% in Q1 FY26 (-4.7 pt YoY) but substantially above our structural baseline. QoQ rebound of +9.5 pt from the 16.8% seasonal trough in Q4 FY26. Section 1 — Core ...

Cover Corp (5253) Q1 FY2027/3 Earnings Dashboard Cover Corporation (5253.T) — Q1 FY2027/3 Quarterly Earnings Dashboard — April–June 2026 ¥1,630 Close 2026/08/12 · +1.24% Yamashita Family Think Tank Revenue ¥8,825M -8.3% YoY Below Pace Operating Profit ¥651M -33.0% YoY Below Pace Operating Margin 7.38% vs 10.1% Q1 PY Compressed Key Signal 44.8% Contribution Margin +1.7pt Licensing Mix ↑ ⚠️ Net Profit Margin Floor: 4.70% — FAIL (12–14% structural floor) Misses the un-distorted baseline by 730–930 bps. Q1 FY2026 delivered ~7.2% net margin on the same seasonal trough. The widening gap is not fully explained by seasonality — fixed cost absorption on a declining revenue base is the primary driver. Income Statement — Q1 Results & H1 Implied Remainder Line Item Q1 FY27 Actual ...