Tokyotokeiba (9672) Q3 2025 earnings summary

Executive summary

• Revenue/net sales increased by ¥964 million (+3.2% year-over-year) to ¥31,181 million, driven by growth in SPAT4 internet betting and warehouse rental income.

• Operating profit rose by ¥953 million (+8.8% year-over-year) to ¥11,808 million, with cost controls offsetting higher depreciation.

• Net income attributable to shareholders grew by ¥259 million (+3.4% year-over-year) to ¥7,853 million, despite impairment losses from the closure of the Niigata off-track betting site.

• Comprehensive income increased 4.1% year-over-year to ¥8,079 million.

Financial highlights

• Revenue/net sales: ¥31,181 million (up 3.2% year-over-year).

• Operating profit: ¥11,808 million (up 8.8% year-over-year); ordinary profit: ¥11,810 million (up 9.0%).

• Net income attributable to shareholders: ¥7,853 million (up 3.4% year-over-year).

• Basic earnings per share for the period was ¥294.25, up from ¥280.64 in the prior year.

• Gross profit margin improved, with gross profit up 8.6% year-over-year.

Outlook and guidance

• Full-year revenue/net sales forecast revised upward to ¥41,605 million, with operating profit projected at ¥15,004 million and net income forecast at ¥10,148 million.

• Basic earnings per share for the full year is forecast at ¥380.20.

• Annual dividend forecast increased to ¥114 per share; dividend payout ratio maintained at 30%.