Toho Co Ltd (JP:9602)
:9602
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Toho Co
(9602)
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Rating:69Neutral
Price Target:
¥8,809.00
▲(12.94% Upside)
Action:ReiteratedDate:01/16/26
Overall score is driven primarily by strong financial performance—high margins, growing revenue, and an exceptionally low-debt balance sheet—tempered by uneven cash flow conversion. Technical indicators and moving averages point to weaker intermediate momentum, and valuation (P/E ~23.85 with ~1.18% yield) is reasonable but not a clear bargain.
Positive Factors
High profitability margins
Sustained high gross and operating margins indicate durable pricing power and efficient cost control across production and distribution. Strong margins support reinvestment in content, franchise development and steady returns even if box‑office timing varies over the next several quarters.
Negative Factors
Uneven cash flow conversion
Volatile cash conversion implies working capital timing or investment swings tied to film release schedules, which can constrain funding for new productions, dividends or capex. Persistent variability reduces predictability of free cash to support strategy over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability margins
Sustained high gross and operating margins indicate durable pricing power and efficient cost control across production and distribution. Strong margins support reinvestment in content, franchise development and steady returns even if box‑office timing varies over the next several quarters.
Read all positive factors
Toho Co (9602) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥1.46T
Dividend Yield1.12%
Average Volume (3M)645.54K
Price to Earnings (P/E)28.4
Beta (1Y)-0.03
Revenue Growth10.99%
EPS Growth2.35%
CountryJP
Employees3,617
SectorCommunication Services
Sector Strength97
IndustryEntertainment
Share Statistics
EPS (TTM)15.50
Shares Outstanding880,000,000
10 Day Avg. Volume946,210
30 Day Avg. Volume645,536
Financial Highlights & Ratios
PEG Ratio-15.20
Price to Book (P/B)2.52
Price to Sales (P/S)3.85
P/FCF Ratio63.19
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)61.49
Revenue Forecast (FY)¥363.99B
Toho Co Business Overview & Revenue Model
Company Description
Toho Co., Ltd. engages in the motion picture, theatrical production, and real estate businesses in Japan. It is involved in producing, buying/selling, and renting movies; producing and selling television programs, movie pamphlets, and video softwa...
How the Company Makes Money
Toho generates revenue through multiple streams, primarily focusing on film production and distribution. The company earns substantial income from box office sales of its films, both domestically and internationally. Additionally, Toho capitalizes...
Toho Co Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
95
Very Positive
Cash Flow
72
Positive
| Breakdown | TTM | Feb 2024 | Feb 2023 | Feb 2022 | Feb 2021 | Feb 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 360.37B | 313.17B | 283.35B | 244.29B | 228.37B | 191.95B |
| Gross Profit | 160.94B | 138.71B | 126.25B | 104.67B | 91.32B | 65.06B |
| EBITDA | 87.28B | 79.74B | 70.05B | 56.22B | 49.77B | 31.96B |
| Net Income | 55.80B | 43.36B | 45.28B | 33.43B | 29.57B | 14.69B |
Balance Sheet | ||||||
| Total Assets | 705.69B | 668.28B | 628.00B | 538.81B | 506.84B | 477.90B |
| Cash, Cash Equivalents and Short-Term Investments | 109.75B | 96.94B | 123.93B | 154.24B | 133.05B | 125.02B |
| Total Debt | 1.69B | 1.92B | 3.38B | 466.00M | 104.00M | 175.00M |
| Total Liabilities | 169.22B | 173.47B | 143.24B | 115.11B | 97.65B | 88.88B |
| Stockholders Equity | 519.77B | 478.39B | 458.89B | 409.31B | 395.72B | 375.82B |
Cash Flow | ||||||
| Free Cash Flow | 46.76B | 19.09B | 21.66B | 28.48B | 26.52B | 3.00B |
| Operating Cash Flow | 66.59B | 51.62B | 43.35B | 45.40B | 53.46B | 12.51B |
| Investing Cash Flow | -5.89B | -18.46B | -62.71B | -9.18B | -36.03B | -27.23B |
| Financing Cash Flow | -16.43B | -39.30B | -11.63B | -19.13B | -12.48B | -17.22B |
Toho Co Technical Analysis
Positive
7800.00
Price Trends
1595.61
Positive
1638.39
Positive
1726.23
Negative
Market Momentum
31.73
Negative
57.53
Neutral
59.77
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9602, the sentiment is Positive. The current price of 7800 is above the 20-day moving average (MA) of 1648.17, above the 50-day MA of 1595.61, and above the 200-day MA of 1726.23, indicating a neutral trend. The MACD of 31.73 indicates Negative momentum. The RSI at 57.53 is Neutral, neither overbought nor oversold. The STOCH value of 59.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9602.
Toho Co Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ¥421.06B | 15.93 | ― | 0.33% | 6.38% | 38.69% | |
69 Neutral | ¥1.46T | 28.41 | 11.19% | 1.12% | 10.99% | 2.35% | |
66 Neutral | ¥569.88B | 28.18 | ― | 1.12% | 5.90% | 17.39% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
59 Neutral | ¥26.69B | 124.21 | ― | 1.11% | -4.66% | -56.66% | |
49 Neutral | ¥55.23B | 6.12 | 4.10% | 4.16% | 11.52% | 162.04% | |
46 Neutral | ¥166.45B | 52.66 | ― | 0.26% | 14.49% | ― |
* Communication Services Sector Average
JP:9602
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Toho Co Corporate Events
TOHO to Absorb TOHO CINEMAS Loyalty Business into New Unified Membership Platform
Jan 14, 2026
TOHO has approved a simplified absorption-type company split under which it will take over the Cine Mileage Card membership business from its wholly owned subsidiary TOHO CINEMAS. The move is aimed at integrating this cinema-focused loyalty progra...
TOHO to Absorb TOHO CINEMAS Membership Business and Launch Unified “TOHO-ONE” Service
Jan 14, 2026
TOHO CO., LTD. will execute a simplified absorption-type company split to take over the Cine Mileage Card membership business from its wholly owned subsidiary TOHO CINEMAS, effective March 3, 2026. The transferred service will be integrated with o...
Toho Transfers Overseas IP Licensing Business to Subsidiary TOHO Global
Jan 14, 2026
Toho Co. has approved a simplified absorption-type company split under which its wholly owned subsidiary TOHO Global Inc. will assume the business of licensing screening and distribution rights for Toho’s video works, as well as other exploi...
Toho Announces Five-for-One Stock Split and Overhaul of Shareholder Perks
Jan 14, 2026
TOHO Co. has approved a five-for-one stock split of its common shares, effective March 1, 2026, in an effort to lower its share price per unit, improve trading liquidity and attract a wider range of investors. The split will raise the total number...
Toho Hikes Year-End Dividend on Record Film Hits Ahead of Stock Split
Jan 14, 2026
Toho has revised its year-end dividend forecast for the fiscal year ending February 28, 2026, raising the planned year-end payout by ¥20 to ¥62.5 per share, bringing the total annual dividend to ¥105 per share versus ¥85 in the...
Toho Releases Comprehensive 3Q FY2/26 Financial Results Presentation
Jan 14, 2026
Toho Co., Ltd. has released materials for its financial results presentation covering the third quarter of fiscal year ending February 2026, outlining operating results for the period from March 1 to November 30, 2025. The release indicates that t...
Toho Posts Strong Nine-Month Profit Surge, Lifts Dividend Forecast
Jan 14, 2026
Toho Co., Ltd. reported strong results for the nine months ended November 30, 2025, with operating revenue rising 20.2% year on year to ¥281.4 billion and profit attributable to owners of parent jumping 36.5% to ¥46.6 billion, reflecting...
Toho Boosts Capital of UK Unit to Establish European Headquarters
Dec 19, 2025
Toho Co., Ltd. will significantly increase the capital of its London-based subsidiary TOHO THERATRICALS UK LIMITED by £16 million, elevating the unit to the status of a specified subsidiary as its capital will exceed 10% of the parent company...
Toho Co., Ltd. Completes Treasury Share Acquisition
Nov 14, 2025
Toho Co., Ltd. announced the successful completion of its tender offer for treasury shares, which was resolved by the board of directors on October 15, 2025. The tender offer, conducted from October 16 to November 13, 2025, aimed to acquire treasu...
TOHO Co., Ltd. Reports No Treasury Shares Acquired in October
Nov 7, 2025
TOHO Co., Ltd. announced that it has not acquired any treasury shares during the specified period from October 16 to October 31, 2025, despite a board resolution allowing for the acquisition of up to 2,000,100 shares. The lack of acquisition may i...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.