View attachment 75046
They do, A-chan herself presented this graph shortly after the branch debuted.
The problem is that there are 3 "Hololives"
1. Hololive Productions, which is the Company which manages all vtubers under Cover
2. Hololive proper which is the female brand of the company
3. and Hololive JP, which is never referred to as such by the company but is obviously a division within the female brand
Dev_is is part of the first two but not the third.