Toho Co Ltd (JP:9602)
:9602
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Toho Co
(9602)
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Rating:75Outperform
Price Target:
¥1,631.00
▲(11.22% Upside)
Action:UpgradedDate:04/17/26
The score is driven primarily by high-quality financial performance (steady growth, strong margins, and an exceptionally low-debt balance sheet). This is tempered by weak technical positioning with the price below key moving averages, while valuation is supported by a high dividend yield but constrained by a relatively high P/E.
Positive Factors
Conservative balance sheet
Near-zero leverage and a steadily increasing equity base provide durable financial resilience for Toho versus the cyclical film business. This strong balance sheet reduces insolvency risk during weak release cycles, preserves funding optionality for content investment, and supports consistent capital returns over the next several months.
Negative Factors
Margin softening
A drift from peak margins and softer net income despite revenue growth suggests structural cost pressure or normalization after a strong period. If persistent, margin erosion reduces internal funds for content and dividends, forcing either higher cost control or slower reinvestment to sustain returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Near-zero leverage and a steadily increasing equity base provide durable financial resilience for Toho versus the cyclical film business. This strong balance sheet reduces insolvency risk during weak release cycles, preserves funding optionality for content investment, and supports consistent capital returns over the next several months.
Read all positive factors
Toho Co (9602) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥1.27T
Dividend Yield1.12%
Average Volume (3M)645.54K
Price to Earnings (P/E)25.6
Beta (1Y)0.04
Revenue Growth15.16%
EPS Growth20.06%
CountryJP
Employees3,617
SectorCommunication Services
Sector Strength97
IndustryEntertainment
Share Statistics
EPS (TTM)6.25
Shares Outstanding880,000,000
10 Day Avg. Volume946,210
30 Day Avg. Volume645,536
Financial Highlights & Ratios
PEG Ratio1.27
Price to Book (P/B)2.57
Price to Sales (P/S)3.67
P/FCF Ratio26.53
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥1,500.00Price Target Upside2.28% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)59.78
Revenue Forecast (FY)¥360.24B
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 makes money through multiple, film-centered revenue streams. First, it earns revenue from producing and distributing films and other visual content, which includes income tied to the commercialization of titles it releases (null for a precise...
Toho Co Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
93
Very Positive
Cash Flow
79
Positive
| Breakdown | Feb 2025 | Feb 2024 | Feb 2023 | Feb 2022 | Feb 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 360.66B | 313.17B | 283.35B | 244.29B | 228.37B |
| Gross Profit | 159.59B | 138.71B | 126.25B | 104.67B | 91.32B |
| EBITDA | 82.81B | 79.74B | 70.05B | 56.22B | 49.77B |
| Net Income | 51.77B | 43.36B | 45.28B | 33.43B | 29.57B |
Balance Sheet | |||||
| Total Assets | 702.93B | 668.28B | 628.00B | 538.81B | 506.84B |
| Cash, Cash Equivalents and Short-Term Investments | 112.41B | 96.94B | 123.93B | 154.24B | 133.05B |
| Total Debt | 1.62B | 1.92B | 3.38B | 466.00M | 104.00M |
| Total Liabilities | 169.94B | 173.47B | 143.24B | 115.11B | 97.65B |
| Stockholders Equity | 515.37B | 478.39B | 458.89B | 409.31B | 395.72B |
Cash Flow | |||||
| Free Cash Flow | 49.90B | 19.09B | 21.66B | 28.48B | 26.52B |
| Operating Cash Flow | 65.33B | 51.62B | 43.35B | 45.40B | 53.46B |
| Investing Cash Flow | -24.90B | -18.46B | -62.71B | -9.18B | -36.03B |
| Financing Cash Flow | -31.33B | -39.30B | -11.63B | -19.13B | -12.48B |
Toho Co Technical Analysis
Negative
1466.50
Price Trends
1593.76
Negative
1620.96
Negative
1725.12
Negative
Market Momentum
-23.38
Positive
31.45
Neutral
6.70
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9602, the sentiment is Negative. The current price of 1466.5 is below the 20-day moving average (MA) of 1629.42, below the 50-day MA of 1593.76, and below the 200-day MA of 1725.12, indicating a bearish trend. The MACD of -23.38 indicates Positive momentum. The RSI at 31.45 is Neutral, neither overbought nor oversold. The STOCH value of 6.70 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 | ¥1.27T | 25.57 | 11.19% | 1.12% | 15.16% | 20.06% | |
75 Outperform | ¥424.63B | 15.93 | ― | 0.33% | 7.20% | 49.11% | |
66 Neutral | ¥548.99B | 28.18 | ― | 1.12% | 1.10% | 16.74% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
59 Neutral | ¥26.65B | 9.01 | ― | 1.11% | -2.51% | -0.60% | |
55 Neutral | ¥142.28B | 28.98 | ― | 0.26% | 17.00% | ― | |
49 Neutral | ¥54.14B | 6.12 | 4.10% | 4.16% | 8.00% | 26.10% |
* Communication Services Sector Average
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Toho Co Corporate Events
Toho Completes ¥11.9 Billion Share Buyback to Lift Capital Efficiency
Apr 15, 2026
Toho Co., Ltd., a leading Japanese entertainment group listed in Tokyo and Fukuoka, focuses on film production, distribution and related media businesses, supported by a broad shareholder base in Japan. The company actively manages its capital str...
Toho Launches Up to JPY 13 Billion Share Buyback via ToSTNeT-3 and Market Purchases
Apr 14, 2026
Toho Co., Ltd. has approved the acquisition of up to 7.5 million of its common shares, equivalent to 0.89% of its outstanding stock excluding treasury shares, through an off-auction own share repurchase using the Tokyo Stock Exchange’s ToSTN...
Toho Reaffirms Independence Despite Significant Stake Held by Hankyu Hanshin Holdings
Apr 14, 2026
Toho Co., Ltd. has clarified its relationship with Hankyu Hanshin Holdings, Inc., which holds a combined 22.62% of Toho’s voting rights and is classified as an “other associated company.” Hankyu Hanshin Holdings is a pure holding...
Toho Raises Year-End Dividend on Strong Earnings, Affirms Shareholder Return Policy
Apr 14, 2026
Toho Co., Ltd. said its board will propose a higher year-end dividend of ¥67.5 per share for the fiscal year ended February 2026, up from a previous forecast of ¥62.5 and compared with ¥50 a year earlier. The payout, based on shares...
Toho Launches ¥13 Billion Share Buyback and Cancels 30 Million Shares to Boost Capital Efficiency
Apr 14, 2026
Toho Co., Ltd. has approved a new share buyback and cancellation program as part of its TOHO VISION 2032 management strategy, aimed at improving capital efficiency and enhancing shareholder returns. The board has authorized the acquisition of up t...
Toho Unveils FY2026 Results Presentation Covering Diversified Entertainment and Real Estate Operations
Apr 14, 2026
Toho has released a financial results presentation for the fiscal year ended February 2026, outlining performance from March 1, 2025 to February 28, 2026 across its core segments. The materials highlight an executive summary, financial highlights,...
Toho Posts Strong FY2026 Earnings, Lifts Dividend Ahead of Stock Split
Apr 14, 2026
Toho reported strong results for the fiscal year ended February 28, 2026, with operating revenue up 15.2% to ¥360.7 billion and profit attributable to owners of parent rising 19.4% to ¥51.8 billion, supported by improved comprehensive in...
Toho Reshapes Top Management, Elevates IP and Digital Leadership
Mar 18, 2026
Toho Co., Ltd. announced a leadership reshuffle, with long-serving Representative Director and Chairperson Yoshishige Shimatani stepping down from his representative role at the May 2026 shareholders’ meeting to become a corporate adviser. E...
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.