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Toho Co
(9602)
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Rating:75Outperform
Price Target:
¥1,802.00
▲(15.74% Upside)
Action:Reiterated
Date:07/17/26
The score is driven primarily by strong financial performance (notably the very conservative balance sheet and solid profitability), offset by only mixed technicals (below 100D/200D averages) and a valuation that offers limited support (P/E ~23.2, ~1.57% yield).
Positive Factors
Revenue and Profit Growth
Strong multi-year revenue expansion and substantial EPS growth indicate broadening earnings power and continued content monetization. If maintained, this growth can support reinvestment in films, distribution, cinemas, and intellectual property while strengthening Toho’s competitive position over the next several quarters.
Negative Factors
Margin Compression
Recent margin compression shows that strong revenue growth has not fully translated into sustained peak profitability. If margins remain below prior highs, earnings growth may depend more heavily on continued volume and title success, reducing the durability and predictability of operating leverage.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and Profit Growth
Strong multi-year revenue expansion and substantial EPS growth indicate broadening earnings power and continued content monetization. If maintained, this growth can support reinvestment in films, distribution, cinemas, and intellectual property while strengthening Toho’s competitive position over the next several quarters.
Read all positive factors
Toho Co (9602) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥1.35T
Dividend Yield1.54%
Average Volume (3M)3.85M
Price to Earnings (P/E)27.9
Beta (1Y)-0.06
Revenue Growth16.81%
EPS Growth25.25%
CountryJP
Employees4,088
SectorCommunication Services
Sector Strength97
IndustryEntertainment
Share Statistics
EPS (TTM)57.36
Shares Outstanding850,000,000
10 Day Avg. Volume4,007,490
30 Day Avg. Volume3,850,400
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 TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)58.59
Revenue Forecast (FY)¥362.78B
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 primarily makes money through a vertically integrated film business model that combines (1) producing and distributing content and (2) monetizing that content through theatrical exhibition and downstream licensing.
1) Film production and dis...
Toho Co Financial Statement Overview
Summary
Income Statement
84
Very Positive
Balance Sheet
95
Very Positive
Cash Flow
72
Positive
| Breakdown | TTM | Feb 2025 | Feb 2024 | Feb 2023 | Feb 2022 | Feb 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 364.53B | 360.66B | 313.17B | 283.35B | 244.29B | 228.37B |
| Gross Profit | 158.18B | 159.59B | 138.71B | 126.25B | 104.67B | 91.32B |
| EBITDA | 62.58B | 90.94B | 81.18B | 77.80B | 61.84B | 54.32B |
| Net Income | 47.68B | 51.77B | 43.36B | 45.28B | 33.43B | 29.57B |
Balance Sheet | ||||||
| Total Assets | 690.79B | 702.93B | 668.28B | 628.00B | 538.81B | 506.84B |
| Cash, Cash Equivalents and Short-Term Investments | 93.96B | 112.41B | 96.94B | 123.93B | 154.24B | 133.05B |
| Total Debt | 1.54B | 1.62B | 1.92B | 3.38B | 466.00M | 104.00M |
| Total Liabilities | 172.00B | 169.94B | 173.47B | 143.24B | 115.11B | 97.65B |
| Stockholders Equity | 501.22B | 515.37B | 478.39B | 458.89B | 409.31B | 395.72B |
Cash Flow | ||||||
| Free Cash Flow | 38.98B | 49.90B | 19.09B | 21.66B | 28.48B | 26.52B |
| Operating Cash Flow | 54.87B | 65.33B | 51.62B | 43.35B | 45.40B | 53.46B |
| Investing Cash Flow | -11.65B | -24.90B | -18.46B | -62.71B | -9.18B | -36.03B |
| Financing Cash Flow | -46.31B | -31.33B | -39.30B | -11.63B | -19.13B | -12.48B |
Toho Co Technical Analysis
Positive
1557.00
Price Trends
1459.31
Positive
1389.21
Positive
1504.97
Positive
Market Momentum
36.31
Positive
63.19
Neutral
57.33
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 1557 is above the 20-day moving average (MA) of 1544.03, above the 50-day MA of 1459.31, and above the 200-day MA of 1504.97, indicating a bullish trend. The MACD of 36.31 indicates Positive momentum. The RSI at 63.19 is Neutral, neither overbought nor oversold. The STOCH value of 57.33 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 |
|---|---|---|---|---|---|---|---|
82 Outperform | ¥627.74B | 23.50 | ― | 1.48% | -1.08% | 9.95% | |
76 Outperform | ¥428.21B | 15.87 | ― | 0.61% | 3.44% | 48.68% | |
75 Outperform | ¥1.35T | 27.85 | 9.32% | 1.36% | 16.81% | 25.25% | |
66 Neutral | ¥57.04B | 16.22 | 6.34% | 4.01% | 7.12% | 4609.35% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
59 Neutral | ¥20.74B | 30.92 | ― | 1.26% | -3.66% | -23.02% | |
56 Neutral | ¥151.07B | 43.45 | ― | 0.37% | 16.93% | 270.19% |
* Communication Services Sector Average
JP:9602
Toho Co
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Toho Co Corporate Events
Toho kicks off real estate portfolio overhaul with sale of seven low-strategic properties
Aug 17, 2026
Toho Co., Ltd. has initiated the first major step in its real estate portfolio overhaul by deciding to sell seven regional and suburban properties judged to have low strategic value and limited future earnings contribution. The assets, mainly comm...
Toho sets ¥50 billion strategic shareholding cut to boost capital efficiency
Jul 15, 2026
Toho Co., Ltd. has adopted a new, more aggressive policy to reduce its strategic shareholdings after previously selling all shares in eight issues between fiscal 2023 and fiscal 2026 following board reviews of necessity and rationality. The compan...
Toho Releases Concise 1Q FY2/27 Results Update
Jul 15, 2026
Toho Co., Ltd., a leading Japanese entertainment and film company, has released its consolidated financial results presentation for the first quarter of fiscal year ending February 2027, covering the period from March 1 to May 31, 2026. The materi...
Toho Revenue Rises but Profits Drop Sharply in First Quarter
Jul 15, 2026
Toho reported consolidated operating revenue of ¥88.7 billion for the three months ended May 31, 2026, up 4.6% year on year, but operating profit fell 28.3% to ¥13.9 billion and profit attributable to owners of parent dropped 29.1% to &#...
Toho Completes Treasury Share Disposition for Restricted Share Remuneration
Jun 26, 2026
Toho Co., Ltd. has completed the payment process for a planned disposition of treasury shares used as restricted share remuneration for its directors and executive officers. The move follows a Board decision made in late May and reflects the compa...
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.