Toho Holdings (8129) Q4 2025 earnings summary

Executive summary

• Achieved record-high operating revenue of ¥313.1 billion and operating profit of ¥64.6 billion for FY ending February 2025, driven by strong film, animation, and licensing businesses in Japan and overseas.

• Net profit declined year-over-year due to one-time gains from subsidiary consolidation in the previous year and special losses recorded this year.

• Announced Mid-Term Plan 2028, targeting operating profit of ¥70 billion+ and ROE of 9%+.

• Established a new IP & Anime Business segment to enhance disclosure and focus on growth strategy.

Financial highlights

• Operating revenue rose 10.5% YoY to ¥313.1 billion; operating profit up 9.2% to ¥64.6 billion; ordinary profit up 2.3% to ¥64.5 billion.

• Net profit attributable to owners declined 4.3% to ¥43.4 billion due to non-recurring items.

• Film business: revenue ¥209.3 billion (+8.5% YoY), operating profit ¥50.8 billion (+13.6% YoY).

• Theater business: revenue ¥22.9 billion (+13.6% YoY), operating profit ¥4.1 billion (+32.6% YoY).

• Real estate business: revenue ¥79.7 billion (+15.2% YoY), operating profit ¥16.8 billion (−4.4% YoY), impacted by higher repair and demolition costs.

Outlook and guidance

• FY2026 forecast: operating revenue ¥300 billion (−4.2% YoY), operating profit ¥57 billion (−11.9% YoY), reflecting absence of major streaming revenue and temporary closure of the Imperial Theatre.

• Dividend policy: minimum annual dividend of ¥85/share and payout ratio of 35%+; flexible share buybacks.

• Targeting ¥70 billion operating profit in the next three years, aiming for ¥75–100 billion by 2032, and increasing overseas sales ratio from 10% to 30% by 2032.

• Segment reporting to change with new IP & Anime business segment.