In the context of China and Japan, the emerging field of Intellectual Property (IP) operation is now a strategic mode of cultural and commercial value production (representative of which is the Pop Mart system of designer toy as well as the anime production system of Japan, with its corresponding influence in the global cultural and commercial sphere). The paper develops a comparative analysis of the IP operation strategies on a basis of a new Hybrid Knowledge Graph-Enhanced Sentiment-Topic Mining Framework integrating multi-source data analytics and domain context-specific mapping. The architecture combines knowledge graph building to represent entity relationship (e.g., creators, brands, licensing networks, and fan groups) and supplements it by sentiment-topic mining of user-generated content over texts at Weibo, Bilibili, and Twitter. Measuring emotional engagement, brand loyalty, and the means by which the monetization will take place, the analysis presents strategic differences, which are critical. The findings summarize that even though both of the ecosystems are dependent on touch point of emotions and collectibles, China has its model supported on the speed, social trading and real-life communication, whilst Japan has a model supported on long term capital of story and the series of contents.