Toei Animation (4816) Q3 2025 earnings summary

Executive summary

• Achieved record net sales and profits for the third quarter, with net sales for the nine months ended December 2024 reaching ¥72.7 billion, up 8.3% year-over-year.

• Operating profit rose 31.5% year-over-year to ¥23.4 billion.

• Net profit for the nine months increased 15.9% year-over-year to ¥16.9 billion.

• Strong performance in domestic and overseas streaming rights and licensing, especially for "ONE PIECE" and "DRAGON BALL" series.

• Operating profit margin recovered to FY2023 levels, aided by the absence of prior-year evaluation losses and yen depreciation.

Financial highlights

• Ordinary profit for the nine months up 20.0% year-over-year to ¥24.4 billion.

• Gross profit for the nine months up 24.3% year-over-year to ¥34.7 billion.

• Basic earnings per share for the period were ¥82.68, compared to ¥71.37 in the prior year.

• Comprehensive income totaled ¥19.1 billion, up from ¥17.1 billion year-over-year.

• Q3 net sales up 13.4% year-over-year.

Outlook and guidance

• Progress toward full-year earnings estimates is strong, with 80.8% of net sales and 86.6% of operating profit targets achieved by Q3.

• Full-year net sales forecast is ¥90 billion, a 1.5% increase year-over-year.

• Operating profit for the full year is projected at ¥27 billion, up 4.0% year-over-year.

• Year-end dividend forecast maintained at ¥31 per share, with a payout ratio of 33.7%.

• FY2025.3 earnings estimates and dividend forecast remain unchanged due to production costs for new films and FX uncertainties.