ANYCOLOR delivered another fast-growing year, but its own forecast suggests the pace is about to cool. On a non-consolidated basis, the company reported revenue of ¥55,681 million, up 29.9%, operating profit of ¥20,172 million, up 23.9%, and net profit of ¥14,091 million, up 22.4%, for the year ended April 30. The full-year dividend rose to ¥75 a share from ¥65 a year earlier.
| Metric | Year to April 2026 | Year ending April 2027 guidance |
|---|---|---|
| Revenue | ¥55,681m | ¥56,000m to ¥60,000m |
| Operating profit | ¥20,172m | ¥18,000m to ¥20,000m |
| Net profit | ¥14,091m | ¥12,326m to ¥13,696m |
| Full-year dividend per share | ¥75.00 | ¥62.00 forecast |
The release still shows a business with scale. ANYCOLOR said its ANYCOLOR ID base reached 2,033 thousand, up 20.6%, and the number of affiliated VTubers rose to 179, nine more than a year earlier. Even so, profitability was not marching in only one direction: operating margin eased to 36.2% from 38.0%. That matters because the company has spent the past few years turning fan enthusiasm into a very efficient revenue machine.
The real change in tone is in the outlook for the year ending April 2027. Revenue is forecast at ¥56,000 million to ¥60,000 million, implying growth of 0.6% to 7.8%. Operating profit is seen at ¥18,000 million to ¥20,000 million, and net profit at ¥12,326 million to ¥13,696 million, both below the just-reported year even at the top end of the range. Management says it plans more disciplined use of VTubers, will keep expanding candidate recruitment through its Virtual Talent Academy, and expects personnel costs to rise as headcount increases.
That leaves a fairly clear read-through. ANYCOLOR is not guiding for a stall, and the sales range still implies growth. But it is very much guiding against the idea that nearly 30% top-line growth and a mid-30s operating margin should be treated as the new default. The dividend forecast for the coming year drops to ¥62 a share, and the company did not provide a payout ratio because the earnings forecast is presented as a range. Cash, at least, is not the problem: year-end cash and cash equivalents stood at ¥22,050 million after ¥15,678 million of operating cash flow, ¥5,009 million spent on share repurchases and ¥4,123 million of dividend payments.
For a company still adding fans, talent and revenue, the next test looks less like expansion at all costs and more like controlled growth without giving up too much of the margin that made the story stand out in the first place.