New Japan Pro Wrestling generated 5.29 billion Japanese yen in revenue for its parent company Bushiroad’s fiscal year that ended June 30, 2023, which exchanges to $36.3 million USD. New Japan was narrowly profitable for the year. During the same 12-month period, New Japan generated operating income of 230 million yen, or $1.58 million USD, according to Bushiroad investor presentation slides.
Bushiroad Fight, which now largely consists of women’s wrestling promotion Stardom, generated far less revenue than New Japan but was slightly more profitable in the same period. The Bushiroad Fight segment recorded 1.53 billion yen (equal to $10.5 million) and operating income of 250 million yen, or $1.72 million.
New Japan’s results represent a slim return toward profitability. In the prior fiscal year (July 1, 2021 to June 30, 2022), New Japan recorded revenue of 4.45 billion yen or $30.5 million, according to a similar document from last year, and an operating loss of 170 million yen or $1.17 million.
Last fiscal year, Bushiroad Fight recorded revenue of 1.0 billion yen ($6.85 million) and operating income of 220 million yen ($1.47 million).
New Japan’s profitability peaked in fiscal year 2018 when the company recorded $4.0 million in net income. The following year New Japan set its record for annual revenue, with $37.1 million for the year ending July 2019.
Following that year, the Covid-19 pandemic impacted New Japan’s business, which relies more heavily on live event business than major U.S. wrestling companies, which get the majority of their revenues from television and other media revenues.
Annual financial data for New Japan going back to 2013 is shown in the chart below. Net income data isn’t available for 2022 and 2023 fiscal years, only operating income, and vice versa. Net income is a more final measurement of profit than operating income, so net income was probably lower than the operating income values shown in the years where net income data is missing.
For comparison to the biggest wrestling companies in the world, WWE reported $1.29 billion in revenue for the calendar year of 2022, with net income of $196 million and operating income of $283 million. Tony Khan said in interviews that AEW generated over $100 million in revenue for 2022. I believe AEW hasn’t yet had a profitable year. AEW would likely reach profitability if the company receives a major raise in media rights revenue under a new deal with Warner Bros. Discovery that I believe has yet to be made.
Brandon Thurston
brandon@wrestlenomics.com
Brandon Thurston has written about wrestling business since 2015. He operates and owns Wrestlenomics.