TOYOKOH (341A) Q4 2025 earnings summary

Executive summary

• Revenue rose 84.9% year-over-year to 2,026 million yen for FY2025, driven by CoolLaser's launch and SOSEI's expansion, with net income of 321.1 million yen, reversing a prior year loss.

• Operating profit reached 301 million yen, up from a loss of 189 million yen the previous year.

• CoolLaser's G19 model release led to significant sales and a reduction in R&D expense ratio, resulting in a return to profitability.

• SOSEI remains a stable revenue base, while CoolLaser is positioned for high growth and market expansion.

• Total assets increased to 3,889.9 million yen from 1,920.6 million yen year-over-year.

Financial highlights

• FY2025 revenue reached 2,026 million yen, up 84.9% year-over-year from 1,095 million yen.

• Gross profit increased to 862.8 million yen from 305.9 million yen year-over-year.

• Operating profit margin improved to 14.9% from negative 17.3% year-over-year.

• Basic earnings per share was 27.09 yen, compared to a loss of 15.26 yen per share the previous year (adjusted for stock split).

• Cash and cash equivalents at year-end rose to 1,987.2 million yen from 794.9 million yen.

Outlook and guidance

• FY2026 revenue forecast is 3,000 million yen, with operating profit projected at 580 million yen and net income at 480 million yen.

• CoolLaser device deliveries expected to reach 12 units in FY2026, with mid-term targets of 9–15 units in FY2026 and 35–65 units by FY2028.

• SOSEI business anticipates continued 10% CAGR, with new solar-related business to drive further growth.

• Gross margin expected to remain at 40% for both SOSEI and CoolLaser.

• No dividend forecast for the next fiscal year; payout ratio remains at 0%.