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TOHO, Ordinary Profit Forecast for the Fiscal Year Revised Upward to an Unexpected 2% Increase, Raises Record High Profit

Wed Oct 15, 2025 3:30 pm JST Earnings

9602 TOHO CO., LTD. 【J-GAAP】

Earnings Report

TOHO CO., LTD. <9602> [TSE Prime] announced its financial results after the market closed on October 15th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2026 (March to August) increased 6.1% from the same period last year, reaching 42.1 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 19.1%, from the previous forecast of 55.0 billion yen to 65.5 billion yen (compared to 64.4 billion yen in the previous period), record profits reach three consecutive terms, turning to a 1.6% increase in the consolidated ordinary profit outlook.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the September to February period (second half) is expected to decrease 5.5% from the same period last year to 23.3 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit increased 41.6% from the same period last year, reaching 23.2 billion yen. However, the operating profit margin decreased from 21.0% in the same period last year to 20.4%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Mar - Aug, 2023 139,642 30,752 32,881 21,751 124.6 52.2 Oct 11, 2023 J-GAAP
Mar - Aug, 2024 163,681 40,915 39,781 26,485 155.1 61.7 Oct 15, 2024 J-GAAP
Mar - Aug, 2025 191,677 41,146 42,192 33,450 197.3 64.4 Oct 15, 2025 J-GAAP
YoY +17.1% +0.6% +6.1% +26.3% +27.2%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar - Aug, 2025 Guidance ー ー ー ー － 42.50 Apr 14, 2025 J-GAAP
Mar - Aug, 2025 Results 191,677 41,146 42,192 33,450 197.3 42.50 Oct 15, 2025 J-GAAP
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2026 Prev 300,000 57,000 55,000 43,500 256.5 85 Jul 15, 2025 J-GAAP
Feb, 2026 New 360,000 65,000 65,500 47,500 280.1 85 Oct 15, 2025 J-GAAP
Revision Rate +20.0% +14.0% +19.1% +9.2% +9.2%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep - Feb, 2024 149,490 23,769 24,674 16,872 99.1 50 Apr 14, 2025 J-GAAP
Sep - Feb, 2025 Guidance 168,323 23,854 23,308 14,050 82.9 42.50 Oct 15, 2025 J-GAAP
YoY +12.6% +0.4% -5.5% -16.7% -16.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2024 283,347 59,251 63,024 45,283 259.5 85 Apr 15, 2024 J-GAAP
Feb, 2025 313,171 64,684 64,455 43,357 254.8 85 Apr 14, 2025 J-GAAP
Feb, 2026 Guidance 360,000 65,000 65,500 47,500 280.1 85 Oct 15, 2025 J-GAAP
YoY +15.0% +0.5% +1.6% +9.6% +10.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2024 77,705 16,339 16,430 10,336 60.5 21.0 Oct 15, 2024 J-GAAP
Sep - Nov, 2024 70,488 11,886 11,771 7,656 44.9 16.9 Jan 14, 2025 J-GAAP
Dec - Feb, 2024 79,002 11,883 12,903 9,216 54.2 15.0 Apr 14, 2025 J-GAAP
Mar - May, 2025 84,878 19,339 18,929 11,565 68.2 22.8 Jul 15, 2025 J-GAAP
Jun - Aug, 2025 106,799 21,807 23,263 21,885 129.1 20.4 Oct 15, 2025 J-GAAP
YoY +37.4% +33.5% +41.6% +111.7% +113.2%

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