Toho Holdings (8129) Q3 2026 earnings summary

Executive summary

• Achieved record-high 3Q FY2/26 revenue and profits, with operating revenue at ¥281.4B (+20.2% YoY) and operating profit at ¥60.1B (+13.8% YoY), driven by major film hits and strong theater attendance.

• Net income rose to ¥46.6B (+36.5% YoY), aided by sales of strategic shareholdings in 2Q.

• Comprehensive income increased 66.1% YoY to ¥57.7B.

• 3Q profits exceeded forecasts, but the full-year outlook remains unchanged due to a softer 4Q projection for the Film business.

• Announced a 1-for-5 stock split, changes to the shareholder benefit program, and a year-end dividend forecast increase from ¥85 to ¥105.

Financial highlights

• Operating revenue for 3Q YTD reached ¥281.4B (+20.2% YoY); operating profit was ¥60.1B (+13.8% YoY); ordinary profit ¥60.9B (+18.1% YoY); net income ¥46.6B (+36.5% YoY).

• Gross profit for the period was ¥125.6B, up from ¥109.2B YoY.

• Basic earnings per share increased to ¥274.75 from ¥200.38 YoY.

• Total assets as of November 30, 2025, were ¥705.7B, up ¥52.6B from the previous fiscal year-end.

• Net assets rose to ¥536.5B, with an equity ratio of 73.7%.

Outlook and guidance

• Full-year forecast unchanged: operating revenue ¥360B (+15.0% YoY), operating profit ¥65B (+0.5% YoY), net income ¥47.5B (+9.6% YoY), and basic EPS ¥280.77, reflecting a cautious 4Q outlook for the Film business.

• Annual dividend forecast raised to ¥105 per share, with a payout ratio target of 35% or more.

• Continued focus on flexible share buybacks and minimum annual dividend of ¥85 per share under the Mid-Term Plan 2028.