Toho Holdings (8129) Q2 2026 earnings summary

Executive summary

• Operating revenue for 2Q FY2/26 reached ¥191.677 billion, up 17.1% year-over-year, with operating profit at ¥41.146 billion, driven by box office hits like Demon Slayer and KOKUHO, despite the absence of strong streaming revenue and temporary theater closures.

• Profit attributable to owners of parent rose 26.3% to ¥33.45 billion, supported by the sale of cross-shareholdings.

• The film business outperformed forecasts, prompting an upward revision of full-year earnings guidance.

• The company implemented its “TOHO Mid-Term Plan 2028” and restructured segments, establishing IP and Anime as a new growth area.

• Announced a share buyback tender offer and cancellation of 10,490,633 treasury shares to enhance EPS and ROE.

Financial highlights

• Operating revenue for 2Q FY2/26 was ¥191.7 billion, up 17.1% year-over-year; operating profit was ¥41.1 billion, up 0.6%; ordinary profit was ¥42.2 billion, up 6.1%; profit attributable to owners of parent was ¥33.5 billion, up 26.3%.

• Comprehensive income rose 28.5% year-on-year to ¥41.249 billion.

• Basic earnings per share increased to ¥197.27 from ¥155.11 year-on-year.

• Total assets grew to ¥715.724 billion, with net assets at ¥527.493 billion and an equity ratio of 71.3%.

• Cash flows from operating activities were ¥47.8 billion; cash and cash equivalents at period end were ¥96.6 billion.

Outlook and guidance

• Full-year earnings forecast revised upward: operating revenue now expected at ¥360 billion (+20% from previous forecast), operating profit at ¥65 billion (+14%), ordinary profit at ¥65.5 billion (+19%), and profit attributable to owners of parent at ¥47.5 billion (+9%).

• Segment revenue forecasts: Film business ¥179 billion, IP and Anime business ¥75.9 billion, Theatrical business ¥22.5 billion, Real Estate business ¥81.3 billion.

• Capital expenditures for the year are budgeted at ¥19 billion.

• Year-end dividend forecast under consideration; policy targets a payout ratio of 35% or more with a minimum annual dividend of ¥85 per share.