Toho (9602) Q2 2026 earnings summary

Executive summary

• Operating revenue for 2Q FY2/26 reached ¥191.6 billion, up 17.1% year-over-year, with operating profit at ¥41.1 billion, up 0.6%, and profit attributable to owners of parent up 26.3% to ¥33.5 billion.

• The group revised its full-year earnings forecast upward, reflecting strong performance across all business segments and a focus on IP and Anime as a new growth area.

• The film business outperformed due to box office hits like Demon Slayer and KOKUHO, offsetting the absence of prior-year streaming revenue and temporary theater closures.

• Announced a treasury share buyback (up to 2 million shares, ¥17.56 billion) to enhance EPS and ROE.

• Implemented the “TOHO Mid-Term Plan 2028” and reclassified reportable segments, establishing “IP and Anime business” as a new growth area.

Financial highlights

• Operating revenue: ¥191.6 billion (+17.1% YoY); operating profit: ¥41.1 billion (+0.6% YoY); profit attributable to owners of parent: ¥33.5 billion (+26.3% YoY).

• Ordinary profit: ¥42.2 billion (+6.1% YoY); comprehensive income: ¥41.2 billion (+28.5% YoY).

• Extraordinary income included an ¥8.9 billion gain on sale of investment securities.

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

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

Outlook and guidance

• Full-year operating revenue forecast revised to ¥360 billion (+15% YoY); operating profit to ¥65 billion; profit attributable to owners of parent to ¥47.5 billion (+9.6% YoY).

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

• Year-end dividend forecast is ¥85/share; policy targets a payout ratio of 35%+.

• Continued focus on flexible share buybacks and capital efficiency.