The investor is bullish on Sanrio, citing its pivot to a high-margin IP licensing business and its potential as a "tech royalty" play for AI model training. Despite a recent price dip due to a special investigation into director compensation, the asset maintains 11 buy ratings with an average price target of ¥1,494. Key financial data includes gross margins exceeding 80% and a projected base case of ¥20B in new AI-driven royalty revenue.