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TOHO Cinemas Reports Robust Financial Growth for Fiscal Year Ending February 2024

Sales Up 10.7%, Net Profit Surges 43.9% Amid Expansion and Price Adjustments
Japan
t 9602.TSE Anime 20 Mid and Small Cap 2000 Entertainment 100
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TOHO Cinemas, a subsidiary of Toho Co., Ltd., has reported impressive financial results for the fiscal year ending February 2024. The company achieved sales of 78,969 million yen, marking a 10.7% increase from the previous fiscal year. Operating profit soared by 42.6% to 11,088 million yen, and net profit climbed 43.9% to 7,661 million yen.

TOHO Cinemas is Japan’s leading movie theater operator, boasting over 70 theaters nationwide. The company’s strong performance is attributed to a diverse lineup of Japanese and foreign films, contributing to a 4.2% increase in moviegoers, totaling 40 million attendees for the period.

Despite challenges such as rising energy prices and labor costs, TOHO Cinemas managed to sustain growth. The company adjusted its movie ticket prices from June 1, 2023, to offset these increased operational costs. Additionally, TOHO Cinemas continued to expand its footprint with the opening of TOHO Cinemas Lalaport Kadoma in Osaka on April 17, 2023, featuring nine screens, and TOHO Cinemas Susukino in Sapporo on November 30, with ten screens.

The strategic initiatives and operational efficiencies implemented by TOHO Cinemas have positioned the company well for continued growth. As the top movie theater company in Japan in terms of attendance, TOHO Cinemas remains committed to providing exceptional entertainment experiences while navigating the evolving market landscape.

 

 

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