TOHO raised its forecast for profit attributable to owners of the parent for the year to February 2027 to ¥48.0bn from ¥41.0bn, a 17.1% increase, and gave a single reason: a partial sale of investment securities. Revenue (¥345.0bn), operating profit (¥62.0bn) and ordinary profit (¥67.0bn) stay where the company set them on April 14.
| Item | Previous forecast | Revised forecast |
|---|---|---|
| Revenue | ¥345.0bn | ¥345.0bn |
| Operating profit | ¥62.0bn | ¥62.0bn |
| Ordinary profit | ¥67.0bn | ¥67.0bn |
| Net profit attributable to owners of the parent | ¥41.0bn | ¥48.0bn |
| Net profit per share | ¥48.85 | ¥57.62 |
What the revision rests on
The board's notice ties the change to the sale of some investment securities in the third quarter of the current fiscal year. It does not give the size of the gain. TOHO's half-year report, filed the same day, fills that in: the board decided on September 15, 2026 to sell part of its listed holdings under its policy of reducing strategic shareholdings, and the sale carries a gain of ¥11.1bn. The notice does not bridge that gain to the ¥7.0bn increase in the forecast. See Earlier Tokyo Brief coverage.
The per-share forecast rises to ¥57.62 from ¥48.85. Both figures are stated as if the 5-for-1 share split of March 1, 2026 had taken effect at the start of the prior fiscal year.
The operating picture has not changed
The first half was weaker than the new full-year net profit number suggests. For the six months to August 31, revenue was ¥185.2bn, down 3.4%, operating profit ¥30.9bn, down 24.8%, and net profit ¥20.0bn, down 40.2%. The prior-year half had included an ¥8.9bn gain on sales of investment securities; this year's half has none.
TOHO's results presentation says the first half was broadly on plan. It says the company held the other guidance lines because it is watching how big second-half releases open. The film Godzilla Minus Zero is due to open in Japan on November 3.
Even after the raise, the ¥48.0bn net profit forecast is 7.3% below the prior year, and the ¥62.0bn operating profit forecast is 8.7% below it. The upgrade comes from a one-off disposal of securities, not from a stronger view of the film, anime or property businesses.
Dividend still open
The notice says TOHO will keep considering the year-end dividend under its shareholder-return policy: a floor of ¥17 a year and a payout ratio of at least 35%. It does not announce an increase. The board has set an interim dividend of ¥11.00 per share, with payment starting November 20.
The presentation says TOHO intends to cut the book value of its strategic holdings by more than ¥50bn by the end of the fiscal year to February 2030, giving sale proceeds priority for growth investment while also using them as a source for shareholder returns.