Toho Gas Co (9533) Q3 2026 earnings summary

Executive summary

• Net sales for Q3 FY2025 rose 1.0% year-over-year to ¥465.4 billion, with operating income up 18.4% to ¥25.8 billion and net income attributable to owners up 9.1% to ¥24.0 billion; comprehensive income surged 164.1% to ¥42.6 billion, driven by securities gains.

• Customer base expanded across city gas, LPG, and electricity, supporting higher sales volumes, especially in electricity.

Financial highlights

• Gross profit increased to ¥128.4 billion; ordinary income rose 7.9% to ¥29.9 billion; net income per share increased to ¥254.17.

• Cost of sales decreased by 1.1%, while selling, general, and administrative expenses increased by 4.8%.

• Total assets grew to ¥776.9 billion, net assets to ¥461.4 billion, and interest-bearing debt to ¥170.6 billion.

Outlook and guidance

• FY2025 full-year forecast projects net sales of ¥630.0 billion (down 4.0%), operating income of ¥27.0 billion (down 12.6%), and net income of ¥27.0 billion (up 6.1%), with net income per share forecasted at ¥292.24.

• Customer accounts and electricity sales volume are expected to grow, while city gas sales volume is forecast to decline.

• ROE is projected at 6.0% for FY2025.