Buy Or Sell Opportunity • Jun 25
Now 20% overvalued Over the last 90 days, the stock has fallen 21% to €6.85. The fair value is estimated to be €5.69, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 3.4% per annum. Earnings are also forecast to grow by 4.6% per annum over the same time period. Declared Dividend • Jun 12
Final dividend of JP¥11.00 announced Shareholders will receive a dividend of JP¥11.00. Ex-date: 28th August 2026 Payment date: 24th November 2026 Dividend yield will be 158%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (36% earnings payout ratio) and cash flows (37% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 17% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Jun 03
Akatsuki Games Inc. Launches Main Story Chapter 12 X-OVER And Debuts New Character In Kaiju No. 8 The Game KAIJU NO. 8 THE GAME, co-produced by Akatsuki Games, TOHO, and Production I.G, launched Main Story Chapter 12: "X-OVER." The update marks the long-awaited debut of ?5 [Sky-Piercing Bolt] Gen Narumi in a custom CLOZER suit. Players can earn up to 1,500 Dimensional Crystals through the New Chapter Event while playing through a story that puts the First Division's pride to the test. Main Story Chapter 12: X-OVER is now available. The update introduces the final battle against humanity's greatest threat—Dimensional Identified Kaiju A—looming on the horizon. CLOZER proposes a large-scale expedition to concentrate global defense forces in New York. The plan hits a sudden roadblock when the operation's prime asset, First Division Captain Gen Narumi, refuses to take part. Stung by their own lack of power, Rin Shinonome and the rest of the First Division vow to defend the nation without their strongest captain. As Shinonome searches for a way to bridge the gap, the genius scientist Suited offers a solution: the X-OVER Suit, a new model still in development. With the First Division's pride on the line against an overwhelming foe, the stage is set for a shocking turn of events. Players can progress through Main Story Chapter 12 and challenge the score battles to earn rewards up to 1,500 Dimensional Crystals. ?5 [Sky-Piercing Bolt] Gen Narumi joins the battle in this update. Narumi takes the field in a custom-calibrated CLOZER suit. Developed alongside it is D-Numbers Weapon 1, which, like Rt-0001, takes the form of contact lenses. The lenses amplify the electrical signals running through his body, which he then discharges through his gauntlet. [Sky-Piercing Bolt] Gen Narumi (Optimal weapon type: Gunsword). New ?5 Weapon: GS-Aremihc (Gunsword). Buy Or Sell Opportunity • Jun 02
Now 21% overvalued Over the last 90 days, the stock has fallen 20% to €6.80. The fair value is estimated to be €5.64, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 58%. For the next 3 years, revenue is forecast to grow by 3.4% per annum. Earnings are also forecast to grow by 4.8% per annum over the same time period. Duyuru • May 23
Akatsuki Games Inc., Toho Co., Ltd., Production I.G, Inc. Announce Debut of New ?5 Character Soichiro Hoshina in Kaiju No. 8 the Game Akatsuki Games Inc., TOHO CO., LTD., Production I.G, Inc. announced the highly anticipated debut of ?5 [Keystone of Western Japan] Soichiro Hoshina. As the elder brother of Soshiro Hoshina, Soichiro joins the playable roster as a formidable master of both sword-slay techniques and precision firearms. His arrival is marked by the new Special Event, "Whirlwind from the West," where players can experience a brand-new story and earn over 1,500 Dimensional Crystals through missions and challenges. Soichiro Hoshina—Captain of the Japan Defense Force's Sixth Division and older brother to Soshiro Hoshina—has arrived in western Tokyo to observe a newly emerged Dimensional Gate in the Third Division's jurisdiction. After coordinating with Captain Mina Ashiro, he heads straight to the heart of the Dimensional Kaiju disaster. Once on the scene, Soichiro turns the Third Division's operations upside down! The strongest in the west is here to stir up a storm in this whirlwind of a special event! In this Special Event, you can earn: · A new Home background, also featured in the story · Over 1,500 Dimensional Crystals · The event-limited ?4 Assault Rifle "AR-Egret 12" .as well as other rewards and titles! ?5 [Keystone of Western Japan] Soichiro Hoshina joins the battle in this update! Soichiro Hoshina is the Captain of the Japan Defense Force's Sixth Division and a key in the Western Japan forces, regarded in the West much like Gen Narumi is in the East. A master of the Hoshina-Style Sword-Slay Technique, he primarily wields a longsword but is also proficient with firearms. He is the older brother of Third Division Vice-Captain Soshiro Hoshina, who still resents him for "always tauntin' him 'bout bein' a wimp" when they were kids. ¦ New ?5 Character [Keystone of Western Japan] Soichiro Hoshina (Optimal weapon type: Assault Rifle) ¦ New ?5 Weapon AR-6710 (Assault Rifle). Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Outside Director Izumi Okoshi was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Apr 16
Toho Co., Ltd. Provides Consolidated Earnings Guidance for the Fiscal Year Ending February 28, 2027 Toho Co., Ltd. provided consolidated earnings guidance for the fiscal year ending February 28, 2027. For the year, the company expects operating revenue of JPY 345,000 million, operating profit of JPY 62,000 million, profit attributable to owners of parent of JPY 41,000 million and basic earnings per share of JPY 48.85. Duyuru • Apr 15
Toho Co., Ltd. (TSE:9602) announces an Equity Buyback for 7,500,000 shares, for ¥13,000 million. Toho Co., Ltd. (TSE:9602) announces a share repurchase program. Under the program, the company will repurchase up to 7,500,000 shares, representing 0.89% of its share capital, for ¥13,000 million. The purpose of the program is to improve capital efficiency and enhance the return of profits to shareholders. The program will expire on May 22, 2026. Duyuru • Apr 14
Toho Co., Ltd., Annual General Meeting, May 28, 2026 Toho Co., Ltd., Annual General Meeting, May 28, 2026. Duyuru • Dec 21
Toho Co., Ltd. (TSE:9602) acquired Anime Ltd. from PLAION GmbH. Toho Co., Ltd. (TSE:9602) acquired Anime Ltd. from PLAION GmbH on December 19, 2025. As part of the acquisition, Anime Limited founder and managing director Andrew Partridge will remain with the company and join the leadership team of Toho's European regional headquarters.
Toho Co., Ltd. (TSE:9602) completed the acquisition of Anime Ltd. from PLAION GmbH on December 19, 2025. Duyuru • Dec 02
Akatsuki Games Inc., TOHO Co., Ltd., Production I.G, Inc. Announce Main Story Chapter 6: Operation: Reclaim Christmas Eve and the New 5 Character Gen Narumi Are Now Available KAIJU NO. 8 THE GAME, co-produced by Akatsuki Games, TOHO, and Production I.G, is excited to announce that Main Story Chapter 6: Operation: Reclaim Christmas Eve and the new 5 character [Japan's Strongest Santa] Gen Narumi are now available! Main Story Chapter 6: operation: Reclaim Christmas EveNow Released! With each of their hopes held close, they rise up to protect the smiles of the children and the city. New Chapter Event: To celebrate the release of Main Story Chapter 6, the New Chapter Event is now available. Progress through Main Story Chapter 6 and challenge the Score Battles to earn rewards up to Dimensional Crystal x1500. For more details, please check out the in-game announcement. Main Story Chapter 6 Release Celebration Login Bonus: Naoya Matsumoto's hit manga series, Kaiju No. 8, has been serialized on Shueisha's Shonen Jump+, and with over 19 million copies printed and distributed in Japan (including digital editions) across 16 published volumes. The anime Kaiju No. 8 has also garnered immense popularity not only in Japan but also worldwide, particularly in North America. Following its global success, Kaiju No. 8 THE GAME--co-produced by the powerhouse team of Ak Akatsuki Games, TOO, and Production I.G--is now officially available on the App Store, Google Play, and Steam®?. Duyuru • Oct 22
Toho Co., Ltd. to Report Q3, 2026 Results on Jan 14, 2026 Toho Co., Ltd. announced that they will report Q3, 2026 results on Jan 14, 2026 Duyuru • Oct 16
Toho Co., Ltd. Revises Consolidated Earnings Guidance for the Fiscal Year Ending February 28, 2026 Toho Co., Ltd. revised consolidated earnings guidance for the fiscal year ending February 28, 2026. For the year, the company expects operating revenue of ¥360,000 million compared to previous guidance of ¥300,000 million, operating profit of ¥65,000 million compared to previous guidance of ¥57,000 million, profit attributable to owners of parent of ¥47,500 million compared to previous guidance of ¥43,500 million and basic earnings per share of ¥280.13 compared to previous guidance of ¥256.55. Reason for the Revision,During the first half (March to August 2025) of the current fiscal year, the Film business significantly exceeded initial forecast, driven by the record-breaking success of films such as "Demon Slayer: Kimetsu no Yaiba Infinity Castle" and"KOKUHO." Furthermore, the IP and Anime business, Theatrical business, and Real Estate business also performed robustly. Given this situation, combined with the business outlook for the second half (September 2025 to February 2026) of the current fiscal year and recent performance, operating revenue, operating profit, ordinary profit, and profit attributable to owners of parent are now expectedto exceed the previously announced forecast. Duyuru • Oct 15
Toho Co., Ltd. (TSE:9602) announces an Equity Buyback for 2,000,000 shares, representing 1.18% for ¥17,587 million. Toho Co., Ltd. (TSE:9602) announces a share repurchase program. Under the program, the company will repurchase up to 2,000,000 shares, representing 1.18% of its share capital, for ¥17,587 million. The shares will be repurchased at a price of ¥8,782 per share. The company will repurchase 1,700,000 shares from H2O Retailing. The purpose of the program is to to enhance shareholder returns and to implement flexible acquisition. Repurchases will be funded from the company’s own funds. If the offer is oversubscribed, the company will prorate the number of shares accepted for payment. The program will expire on November 13, 2025. As of September 30, 2025, the company had 169,571,665 shares (excluding treasury stock) in issue and 6,428,335 shares in treasury. Duyuru • Sep 22
Akatsuki Games Inc., Toho Co., Ltd., Production I.G, Inc. Announces Kaiju No. 8 the Game Syncs Up with the Anime, Soshiro Hoshina Wearing Numbers Weapon 10 KAIJU NO. 8 THE GAME, co-produced by Akatsuki Games, TOHO, and Production I.G, announced that Soshiro Hoshina, wearing Numbers Weapon 10, debuts in the game right after his appearance in the latest episode of the Kaiju No. 8 anime. Additional assets, including the 5 Character Soshiro Hoshina and 5 Weapon SW- Susanoo (Twin Sweden), are available in the attached press asset folder. The character story for [United Front] Soshiro Hoshina is now live in KAIJU NO. 8 The GAME. This new episode highlights the activation experiment of a new identified Kaiju Weapon infused with the power of Kaiju No. 10. As Hoshina prepares for the battles ahead, he pushes himself to unlock even greater strength. Duyuru • Sep 16
Toho Co., Ltd. Resolves Interim Dividend for the Period Ended August 31, 2025, Payable on November 21, 2025 Toho Co., Ltd. announces that, at a meeting of its Board of Directors held September 16, 2025, it resolved to pay an interim dividend of ¥42.5 per share. Total amount of dividends of ¥7,206 million. Effective Date November 21, 2025. Record date is on August 31, 2025. Duyuru • Jan 15
Toho Co., Ltd. to Report Fiscal Year 2025 Results on Apr 14, 2025 Toho Co., Ltd. announced that they will report fiscal year 2025 results at 3:00 PM, Tokyo Standard Time on Apr 14, 2025 Duyuru • Jan 14
Toho Co., Ltd. to Report Q3, 2025 Results on Jun 14, 2025 Toho Co., Ltd. announced that they will report Q3, 2025 results on Jun 14, 2025 Duyuru • Dec 18
Toho Co., Ltd. (TSE:9602) agreed to acquire an unknown minority stake in Orange Co., Ltd. Toho Co., Ltd. (TSE:9602) agreed to acquire an unknown minority stake in Orange Co., Ltd. on December 17, 2024. Toho Co., Ltd. will acquire 19.70% stake in Orange Co., Ltd. through acquisition of the company's common stock and subscription to its third-party allotment of new shares.
The expected completion of the transaction is January 17, 2025. Buy Or Sell Opportunity • Nov 01
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 10% to €35.00. The fair value is estimated to be €29.14, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 21%. For the next 3 years, revenue is forecast to grow by 2.6% per annum. Earnings are also forecast to grow by 2.3% per annum over the same time period. Duyuru • Oct 25
Toho Co., Ltd. to Report Q3, 2025 Results on Jan 14, 2025 Toho Co., Ltd. announced that they will report Q3, 2025 results on Jan 14, 2025 Buy Or Sell Opportunity • Oct 18
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 18% to €35.40. The fair value is estimated to be €28.92, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 21%. For the next 3 years, revenue is forecast to grow by 2.7% per annum. Earnings are also forecast to grow by 1.7% per annum over the same time period. Duyuru • Oct 15
Toho Co., Ltd. (TSE:9602) acquired 6.09% stake in CoMix Wave Films Inc. Toho Co., Ltd. (TSE:9602) acquired 6.09% stake in CoMix Wave Films Inc. on October 15, 2024. Toho Co acquired a portion of the shares of CoMix Wave at the request of Mr. Noritaka Kawaguchi, the founder of CoMix Wave. CoMix has 71 employees.
Toho Co., Ltd. (TSE:9602) completed the acquisition of 6.09% stake in CoMix Wave Films Inc. on October 15, 2024. Duyuru • Oct 08
Toho Co., Ltd. to Report Q2, 2025 Results on Oct 15, 2024 Toho Co., Ltd. announced that they will report Q2, 2025 results on Oct 15, 2024 New Risk • Sep 29
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.7% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Declared Dividend • Sep 26
Dividend of JP¥35.00 announced Shareholders will receive a dividend of JP¥35.00. Ex-date: 27th February 2025 Payment date: 26th May 2025 Dividend yield will be 97%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (30% earnings payout ratio) and cash flows (53% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 7.2% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Upcoming Dividend • Aug 22
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 29 August 2024. Payment date: 21 November 2024. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (1.9%). Duyuru • Jul 29
Toho Co., Ltd. Provides Consolidated Earnings Guidance for the Fiscal Year Ending February 28, 2025 Toho Co., Ltd. provided consolidated earnings guidance for the fiscal year ending February 28, 2025. For the fiscal year ending February 28, 2025, the company expects operating revenue of JPY 280,000 million, operating profit of JPY 55,000 million and profit attributable to owners of parent of JPY 39,000 million or JPY 227.18 per basic share. Valuation Update With 7 Day Price Move • Jul 23
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €30.40, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 13x in the Entertainment industry in Europe. Total loss to shareholders of 15% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €22.50 per share. Reported Earnings • Jul 18
First quarter 2025 earnings released: EPS: JP¥94.07 (vs JP¥70.41 in 1Q 2024) First quarter 2025 results: EPS: JP¥94.07 (up from JP¥70.41 in 1Q 2024). Revenue: JP¥86.0b (up 16% from 1Q 2024). Net income: JP¥16.1b (up 31% from 1Q 2024). Profit margin: 19% (up from 17% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Jul 02
Now 22% overvalued Over the last 90 days, the stock has fallen 8.7% to €27.40. The fair value is estimated to be €22.44, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 24%. For the next 3 years, revenue is forecast to grow by 3.4% per annum. Earnings are also forecast to grow by 2.7% per annum over the same time period. Buy Or Sell Opportunity • Jun 25
Now 22% overvalued Over the last 90 days, the stock has fallen 11% to €27.60. The fair value is estimated to be €22.58, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 24%. For the next 3 years, revenue is forecast to grow by 3.4% per annum. Earnings are also forecast to grow by 2.7% per annum over the same time period. Buy Or Sell Opportunity • Jun 15
Now 22% overvalued Over the last 90 days, the stock has fallen 10% to €27.60. The fair value is estimated to be €22.71, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 24%. For the next 3 years, revenue is forecast to grow by 3.4% per annum. Earnings are also forecast to grow by 2.7% per annum over the same time period. Declared Dividend • Jun 06
Final dividend of JP¥35.00 announced Shareholders will receive a dividend of JP¥35.00. Ex-date: 29th August 2024 Payment date: 21st November 2024 Dividend yield will be 118%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (33% earnings payout ratio) and cash flows (55% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 9.9% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • May 01
Toho Co., Ltd. Provides Dividend Guidance for the Fiscal Year Ending February 28, 2025 Toho Co., Ltd. provided dividend guidance for the Fiscal year ending February 28, 2025. For the period, the company expects dividend of JPY 35.00 per share against JPY 65.00 per share a year ago. Reported Earnings • Apr 16
Full year 2024 earnings released: EPS: JP¥260 (vs JP¥190 in FY 2023) Full year 2024 results: EPS: JP¥260 (up from JP¥190 in FY 2023). Revenue: JP¥283.3b (up 16% from FY 2023). Net income: JP¥45.3b (up 36% from FY 2023). Profit margin: 16% (up from 14% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Upcoming Dividend • Feb 21
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 28 February 2024. Payment date: 27 May 2024. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of German dividend payers (5.2%). Lower than average of industry peers (1.7%). Duyuru • Jan 31
Toho Co., Ltd. to Report Fiscal Year 2024 Results on Apr 15, 2024 Toho Co., Ltd. announced that they will report fiscal year 2024 results on Apr 15, 2024 Reported Earnings • Jan 16
Third quarter 2024 earnings released: EPS: JP¥38.09 (vs JP¥31.88 in 3Q 2023) Third quarter 2024 results: EPS: JP¥38.09 (up from JP¥31.88 in 3Q 2023). Revenue: JP¥63.5b (up 6.9% from 3Q 2023). Net income: JP¥6.65b (up 19% from 3Q 2023). Profit margin: 11% (up from 9.4% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Duyuru • Nov 29
Toho Co., Ltd. to Report Q3, 2024 Results on Jan 15, 2024 Toho Co., Ltd. announced that they will report Q3, 2024 results on Jan 15, 2024 Reported Earnings • Oct 12
Second quarter 2024 earnings released: EPS: JP¥54.18 (vs JP¥57.01 in 2Q 2023) Second quarter 2024 results: EPS: JP¥54.18 (down from JP¥57.01 in 2Q 2023). Revenue: JP¥65.5b (up 12% from 2Q 2023). Net income: JP¥9.46b (down 5.8% from 2Q 2023). Profit margin: 14% (down from 17% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • Aug 23
Upcoming dividend of JP¥20.00 per share at 1.1% yield Eligible shareholders must have bought the stock before 30 August 2023. Payment date: 21 November 2023. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (1.8%). Duyuru • Jul 30
Toho Co., Ltd. to Report Q2, 2024 Final Results on Oct 11, 2023 Toho Co., Ltd. announced that they will report Q2, 2024 final results on Oct 11, 2023 Reported Earnings • Jul 16
First quarter 2024 earnings released: EPS: JP¥70.41 (vs JP¥65.22 in 1Q 2023) First quarter 2024 results: EPS: JP¥70.41 (up from JP¥65.22 in 1Q 2023). Revenue: JP¥74.2b (up 20% from 1Q 2023). Net income: JP¥12.3b (up 6.7% from 1Q 2023). Profit margin: 17% (down from 19% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 28
Full year 2023 earnings released: EPS: JP¥190 (vs JP¥167 in FY 2022) Full year 2023 results: EPS: JP¥190 (up from JP¥167 in FY 2022). Revenue: JP¥244.3b (up 7.0% from FY 2022). Net income: JP¥33.4b (up 13% from FY 2022). Profit margin: 14% (in line with FY 2022). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 15
Full year 2023 earnings released: EPS: JP¥190 (vs JP¥167 in FY 2022) Full year 2023 results: EPS: JP¥190 (up from JP¥167 in FY 2022). Revenue: JP¥244.3b (up 7.0% from FY 2022). Net income: JP¥33.4b (up 13% from FY 2022). Profit margin: 14% (in line with FY 2022). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Feb 20
Upcoming dividend of JP¥20.00 per share at 0.8% yield Eligible shareholders must have bought the stock before 27 February 2023. Payment date: 29 May 2023. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (1.8%). Duyuru • Jan 31
Toho Co., Ltd. to Report Fiscal Year 2023 Results on Apr 13, 2023 Toho Co., Ltd. announced that they will report fiscal year 2023 results on Apr 13, 2023 Reported Earnings • Jan 13
Third quarter 2023 earnings released: EPS: JP¥31.88 (vs JP¥28.81 in 3Q 2022) Third quarter 2023 results: EPS: JP¥31.88 (up from JP¥28.81 in 3Q 2022). Revenue: JP¥59.4b (up 17% from 3Q 2022). Net income: JP¥5.58b (up 9.8% from 3Q 2022). Profit margin: 9.4% (in line with 3Q 2022). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Duyuru • Nov 30
Toho Co., Ltd. to Report Q3, 2023 Results on Jan 12, 2023 Toho Co., Ltd. announced that they will report Q3, 2023 results on Jan 12, 2023 Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Outside Director Masako Orii was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 13
Second quarter 2023 earnings released: EPS: JP¥57.01 (vs JP¥47.58 in 2Q 2022) Second quarter 2023 results: EPS: JP¥57.01 (up from JP¥47.58 in 2Q 2022). Revenue: JP¥58.5b (down 2.9% from 2Q 2022). Net income: JP¥10.0b (up 20% from 2Q 2022). Profit margin: 17% (up from 14% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 3% per year. Duyuru • Oct 13
Toho Co., Ltd. (TSE:9602) announces an Equity Buyback for 1,000,000 shares, representing 0.57% for ¥6,000 million. Toho Co., Ltd. (TSE:9602) announces a share repurchase program. Under the program, the company will repurchase up to 1,000,000 shares, representing 0.57% of its share capital, for ¥6,000 million. The purpose of the program is to improve capital efficiency and enhance the return of profits to shareholders. The program will expire on November 30, 2022. As of September 30, 2022, the company had 175,899,605 shares (excluding treasury stock) in issue and 10,591,028 shares in treasury. Duyuru • Sep 28
Toho Co., Ltd. (TSE:9602) agreed to acquire AID-DCC Inc. from Yukihiro Tominaga. Toho Co., Ltd. (TSE:9602) agreed to acquire AID-DCC Inc. from Yukihiro Tominaga on September 27, 2022. Upcoming Dividend • Aug 23
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 30 August 2022. Payment date: 21 November 2022. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (2.1%). Duyuru • Jul 31
Toho Co., Ltd. to Report Q2, 2023 Results on Oct 12, 2022 Toho Co., Ltd. announced that they will report Q2, 2023 results on Oct 12, 2022 Reported Earnings • Jul 13
First quarter 2023 earnings released: EPS: JP¥65.22 (vs JP¥37.62 in 1Q 2022) First quarter 2023 results: EPS: JP¥65.22 (up from JP¥37.62 in 1Q 2022). Revenue: JP¥61.9b (up 7.0% from 1Q 2022). Net income: JP¥11.5b (up 72% from 1Q 2022). Profit margin: 19% (up from 12% in 1Q 2022). The increase in margin was primarily driven by higher revenue. Over the next year, revenue is forecast to grow 11%, compared to a 132% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Duyuru • Jul 13
Toho Co., Ltd. (TSE:9602) announces an Equity Buyback for 1,000,000 shares, representing 0.57% for ¥6,000 million. Toho Co., Ltd. (TSE:9602) announces a share repurchase program. Under the program, the company will repurchase up to 1,000,000 shares, representing 0.57% of its share capital, for ¥6,000 million. The purpose of the program is to improve capital efficiency and enhance the return of profits to shareholders. The program will expire on September 30, 2022. As of June 30, 2022, the company had 176,899,823 shares (excluding treasury stock) in issue and 9,590,810 shares in treasury. Reported Earnings • Jun 01
Full year 2022 earnings released: EPS: JP¥167 (vs JP¥82.54 in FY 2021) Full year 2022 results: EPS: JP¥167 (up from JP¥82.54 in FY 2021). Revenue: JP¥228.4b (up 19% from FY 2021). Net income: JP¥29.6b (up 101% from FY 2021). Profit margin: 13% (up from 7.7% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 14%, compared to a 131% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 8 non-independent directors. Independent Outside Director Masako Orii was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 14
Full year 2022 earnings released: EPS: JP¥167 (vs JP¥82.54 in FY 2021) Full year 2022 results: EPS: JP¥167 (up from JP¥82.54 in FY 2021). Revenue: JP¥228.4b (up 19% from FY 2021). Net income: JP¥29.6b (up 101% from FY 2021). Profit margin: 13% (up from 7.7% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 14%, compared to a 180% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Upcoming Dividend • Feb 18
Upcoming dividend of JP¥17.50 per share Eligible shareholders must have bought the stock before 25 February 2022. Payment date: 28 May 2022. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (1.8%). Duyuru • Jan 30
Toho Co., Ltd. to Report Fiscal Year 2022 Results on Apr 12, 2022 Toho Co., Ltd. announced that they will report fiscal year 2022 results on Apr 12, 2022 Duyuru • Jan 26
Toho Co., Ltd. Provides Earnings Guidance for the Fiscal Year Ending February 28, 2022 Toho Co., Ltd. provided earnings guidance for the fiscal year ending February 28, 2022. For the year, the company expected to operating revenue of JPY 226,000 million, operating profit of JPY 38,000 million, ordinary profit of JPY 40,000 million, profit attributable to owners of parent of JPY 26,000 million or basic EPS of JPY 147. Reported Earnings • Jan 13
Third quarter 2022 earnings: EPS in line with expectations, revenues disappoint Third quarter 2022 results: EPS: JP¥28.81 (down from JP¥41.82 in 3Q 2021). Revenue: JP¥50.6b (down 21% from 3Q 2021). Net income: JP¥5.08b (down 32% from 3Q 2021). Profit margin: 10% (down from 12% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 20%. Over the next year, revenue is forecast to grow 20%, compared to a 326% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Duyuru • Nov 25
Toho Co., Ltd. (TSE:9602) announces an Equity Buyback for 1 shares, for ¥0.00538 million. Toho Co., Ltd. (TSE:9602) announces a share repurchase program. Under the program, the company will repurchase 1 shares, representing 0.8% of its share capital, for ¥0.00538 million. As of November 13, 2021, the company had 186,490,633 shares in issue. Reported Earnings • Oct 13
Second quarter 2022 earnings released: EPS JP¥47.58 (vs JP¥20.12 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥60.2b (up 47% from 2Q 2021). Net income: JP¥8.40b (up 135% from 2Q 2021). Profit margin: 14% (up from 8.7% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 23
Upcoming dividend of JP¥17.50 per share Eligible shareholders must have bought the stock before 30 August 2021. Payment date: 17 November 2021. Trailing yield: 0.8%. Lower than top quartile of German dividend payers (3.1%). Lower than average of industry peers (1.8%). Reported Earnings • Jul 15
First quarter 2022 earnings released: EPS JP¥37.62 (vs JP¥1.22 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥57.8b (up 75% from 1Q 2021). Net income: JP¥6.68b (up JP¥6.47b from 1Q 2021). Profit margin: 12% (up from 0.7% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • Jun 01
Full year 2021 earnings released: EPS JP¥82.54 (vs JP¥204 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥191.9b (down 27% from FY 2020). Net income: JP¥14.7b (down 60% from FY 2020). Profit margin: 7.7% (down from 14% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Reported Earnings • Apr 16
Full year 2021 earnings released: EPS JP¥82.54 (vs JP¥204 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥191.9b (down 27% from FY 2020). Net income: JP¥14.7b (down 60% from FY 2020). Profit margin: 7.7% (down from 14% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Duyuru • Jan 31
Toho Co., Ltd. to Report Fiscal Year 2021 Results on Apr 13, 2021 Toho Co., Ltd. announced that they will report fiscal year 2021 results on Apr 13, 2021 Analyst Estimate Surprise Post Earnings • Jan 18
Revenue beats expectations Revenue exceeded analyst estimates by 16%. Over the next year, revenue is forecast to grow 13%, compared to a 7.7% growth forecast for the Entertainment industry in Germany. Analyst Estimate Surprise Post Earnings • Jan 16
Revenue beats expectations Revenue exceeded analyst estimates by 16%. Over the next year, revenue is forecast to grow 13%, compared to a 7.6% growth forecast for the Entertainment industry in Germany. Is New 90 Day High Low • Jan 16
New 90-day low: €31.60 The company is down 11% from its price of €35.60 on 16 October 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 27% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €41.80 per share.