Japanese entertainment company lifts its operating profit forecast by 30.3% as animation streaming rights and merchandise licensing drive growth, while movie theater business faces headwinds.
The company expects net sales of ¥171.6 billion ($1.15 billion) for the year ending March 2025, a 10% increase from its previous forecast, according to a statement Wednesday. First-half operating profit rose 31% to ¥19.4 billion.
Toei’s content licensing business performed strongly, with sales of streaming rights for popular series like “ONE PIECE” and “Dragon Ball” boosting revenue. The company’s animation-related content business exceeded initial expectations both domestically and overseas.
Movie theater operations through subsidiary T-Joy saw declining profits despite hits like “Detective Conan” and “Kingdom.” The unit’s earnings were impacted by costs related to opening a new 12-screen complex in Tokorozawa.
The live entertainment segment rebounded as in-person events returned, with sales jumping 52% to ¥6.57 billion. Popular character shows and tours like “OHSAMA SENTAI KING-OHGER FINAL LIVE TOUR2024” drove growth.
The company maintained its annual dividend forecast at ¥12 per share. The stock split 5-for-1 in April 2024.
Looking ahead, Toei plans December releases including an adaptation of popular manga series “OSHI NO KO” both as a streaming series on Amazon Prime Video and as a theatrical film.
