TOKYOTOKEIBA, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 6%, Highest in Three Terms, Dividend Revised Upward by 4 Yen

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Thu Nov 13, 2025 3:30 pm JST Earnings

9672 TOKYOTOKEIBA CO.,LTD. 【J-GAAP】

Earnings Report

TOKYOTOKEIBA CO.,LTD. <9672> [TSE Prime] announced its financial results after the market closed on November 13th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2025 (January to September) increased 9.0% from the same period last year, reaching 11.8 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 6.3%, from the previous forecast of 14.1 billion yen to 15.0 billion yen (compared to 13.9 billion yen in the previous period), increasing the growth rate from 1.5% to 7.9%, reaches new record high for the first time in three terms.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the July to December period (second half) is expected to increase 12.7%, from the previous forecast of 7.04 billion yen to 7.94 billion yen (compared to 7.37 billion yen in the same period of the previous year), turning to a 7.7% increase in the consolidated ordinary profit outlook.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 110 yen to 114 yen (compared to 113 yen in the previous period).

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit grew 10.2% from the same period last year, reaching 4.73 billion yen. The operating profit margin rose from 37.4% in the same period last year to 39.8%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2023	27,962	10,481	10,486	6,379	232.7	78.4	Oct 31, 2023	J-GAAP
Jan - Sep, 2024	30,216	10,855	10,836	7,594	280.6	77.9	Oct 31, 2024	J-GAAP
Jan - Sep, 2025	31,181	11,808	11,810	7,853	294.3	78.6	Nov 13, 2025	J-GAAP
YoY	+3.2%	+8.8%	+9.0%	+3.4%	+4.8%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2025 Prev	21,995	7,053	7,045	5,036	188.7	65	Jul 31, 2025	J-GAAP
Jul - Dec, 2025 New	22,307	7,925	7,940	5,323	199.4	69	Nov 13, 2025	J-GAAP
Revision Rate	+1.4%	+12.4%	+12.7%	+5.7%	+5.7%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2025 Prev	41,293	14,132	14,122	9,861	369.5	110	Feb 14, 2025	J-GAAP
Dec, 2025 New	41,605	15,004	15,017	10,148	380.2	114	Nov 13, 2025	J-GAAP
Revision Rate	+0.8%	+6.2%	+6.3%	+2.9%	+2.9%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024	21,781	7,394	7,370	5,219	193.5	73	Feb 14, 2025	J-GAAP
Jul - Dec, 2025 Guidance	22,307	7,925	7,940	5,323	199.4	69	Nov 13, 2025	J-GAAP
YoY	+2.4%	+7.2%	+7.7%	+2.0%	+3.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2023	37,544	13,362	13,383	8,452	308.4	90	Feb 14, 2024	J-GAAP
Dec, 2024	40,443	13,926	13,912	9,706	359.9	113	Feb 14, 2025	J-GAAP
Dec, 2025 Guidance	41,605	15,004	15,017	10,148	380.2	114	Nov 13, 2025	J-GAAP
YoY	+2.9%	+7.7%	+7.9%	+4.6%	+5.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2024	11,554	4,323	4,294	3,107	114.8	37.4	Oct 31, 2024	J-GAAP
Oct - Dec, 2024	10,227	3,071	3,076	2,112	78.3	30.0	Feb 14, 2025	J-GAAP
Jan - Mar, 2025	9,264	3,276	3,266	2,270	85.1	35.4	May 14, 2025	J-GAAP
Apr - Jun, 2025	10,034	3,803	3,811	2,555	95.7	37.9	Jul 31, 2025	J-GAAP
Jul - Sep, 2025	11,883	4,729	4,733	3,028	113.5	39.8	Nov 13, 2025	J-GAAP
YoY	+2.8%	+9.4%	+10.2%	-2.5%	-1.2%