Despite producing hits like My Dress-Up Darling season 2, Spy x Family season 3, and The Fragrant Flower Blooms with Dignity last year, Japanese animation studio CloverWorks has reported a net loss of 38 million JPY (roughly $235 thousand USD) for the fiscal year ended March 2026 (source: GameBiz). This marks the second consecutive year the studio has experienced a net loss, with the margin widening from the previous fiscal year’s loss of 24 million JPY ($148 thousand USD).
The recent fiscal results don’t necessarily mean the studio is in trouble. As seen in past reports, CloverWorks has experienced losses in previous fiscal years (such as in 2019 and 2020), only for it to make a comeback afterwards (as seen in 2021 and 2024). Additionally, it’s worth noting that CloverWorks is a wholly-owned subsidiary of Aniplex, whose anime business is thriving, according to recent financial reports.
On the other hand, Japanese anime industry insider liu commented on X that this news points to a structural issue in how anime production works and should not be taken lightly nor viewed on its own. They propose that studios like CloverWorks, which are owned by bigger publishers, are placed in a system whereby the parent company (the “profit center”) monopolizes licensing and other profits, while the studios (the “cost centers”) are kept as “factories” that are barely able to break even, compromising independence.
WataMote anime studio Silver Link sees financial losses for third consecutive year, despite revenue growth
