TOKYO -- Sanrio reported its highest-ever first-half net profit Friday, thanks partly to efforts to tie earnings less to star character Hello Kitty even as the Japanese company celebrates her 50th anniversary.
Net profit jumped 82% on the year to 19 billion yen ($124 million) for the six months ended Sept. 30, boosted by events and products for the Hello Kitty milestone, along with licensing revenue from the U.S. and China as other characters gain in popularity. In Japan, its store and theme park business saw more spending per customer amid demand from foreign tourists. Hello Kitty was created in 1974 and has an official birthday of Nov. 1, according to Sanrio.
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