TOEI COMPANY, LTD.
9605・Prime Market・Information & Communication
Business
Toei Company, Ltd., founded in 1951, is a comprehensive entertainment company operating across five segments: Visual Media Business, Exhibition-Related Business, Event-Related Business, Tourism & Real Estate Business, and Architectural Interior Business. In its core Visual Media Business, the company produces and distributes theatrical films, TV movies, and animation, and holds powerful IP assets—centered on Toei Animation Co., Ltd.—including "One Piece," "Kamen Rider," "Super Sentai," and "Pretty Cure." Beyond multi-use development of these IPs through merchandising rights, streaming rights, and licensing, the company operates cinema complexes through T-Joy Co., Ltd. (now Toei Joy Entertainment Co., Ltd.), theme parks such as Toei Uzumasa Eigamura, and leases/operates complex commercial facilities and hotels nationwide, as well as undertaking Construction Contracting for interior work. For FY2026 (ending March 2026), consolidated net sales were ¥185,333 million and operating profit was ¥36,096 million.
Business Model
The Toei Group's earnings structure is built on multi-layered multi-use development originating from its self-produced IP. The Visual Media Business (net sales of ¥127,941 million, operating income of ¥32,448 million) accounts for roughly 90% of overall profit, with theatrical release, television broadcasting, streaming rights sales, merchandising rights licensing, and overseas rights sales serving as the main revenue sources. In addition, cinema complex operations (Exhibition-Related Business), Character Shows / Live Events and events (Event-Related Business), and real estate leasing and hotels (Tourism & Real Estate Business) supplement this with stable baseline revenue.
Company Strengths
The company holds multiple long-running IPs such as One Piece, Kamen Rider, Super Sentai, Precure, and Digimon, with licensing revenue from anniversary campaigns for older titles, game apps, and adult-oriented merchandise trending favorably. The extended IP lifecycle creates a structure in which revenue contribution continues for well over a decade after initial production.
Centered on the Visual Media Business (operating profit of ¥32,448 million), earnings are supplemented by the Exhibition-Related Business (¥2,403 million), Event-Related Business (¥1,616 million), Tourism & Real Estate Business (¥2,757 million), and Architectural Interior Business (¥1,390 million). The company holds multiple stable revenue sources that are less susceptible to fluctuations in theatrical film box-office performance, and achieved consolidated operating profit of ¥36,096 million in FY2026 (ending March 2026).
Toei Animation Co., Ltd. handles anime production for domestic and overseas markets, while Toei Lab Tech Co., Ltd. handles post-production and archiving operations, forming an integrated intra-group structure. With a track record of distributing 41 theatrical films, the group's ability to complete everything in-house—from production to distribution and rights management—is a source of competitive advantage.
ENVALITH's Perspective
Performance Trend
Revenue expanded 57.8% over five fiscal periods, from ¥117,539 million in FY2022 (ended March 2022) to ¥185,333 million in FY2026 (ending March 2026), maintaining a stable growth trajectory. Operating profit peaked at ¥36,339 million in FY2023 (ended March 2023), declined to ¥29,342 million in FY2024 (ended March 2024), and has since been on a recovery track, reaching ¥35,155 million in FY2025 (ended March 2025) and ¥36,096 million in FY2026 (ending March 2026). Net income attributable to owners of the parent of ¥23,320 million in FY2026 (ending March 2026) was significantly boosted by a gain on sale of fixed assets of ¥7,413 million (extraordinary income), with the increase on an ordinary profit basis limited to 8.9%. While external factors such as the expansion of the streaming market and the recovery in inbound demand supported performance, geopolitical risk, elevated costs, and inflationary pressure from currency fluctuations continue to create uncertainty regarding the outlook. For FY2027 (ending March 2027), operating profit is forecast at ¥28,700 million (down 20.5% year on year), representing a substantial decline, and a cautious view is warranted regarding the sustainability of the strong results achieved in FY2026 (ending March 2026).
Growth Strategy
Global IP expansion acceleration and content investment of ¥240,000 million based on TOEI NEW WAVE 2033
Diversifying overseas IP revenue sources through the start of simultaneous streaming of "Kamen Rider" and "Super Sentai" in Asia, North and South America, and Europe, and the sale of remake rights to China ("100 Yen Love"), among other initiatives. In FY2026 (ending March 2026), sales of overseas merchandising and streaming rights remained solid, and equity in earnings of affiliates expanded to ¥4,288 million (from ¥3,581 million in the previous fiscal year).
T-Joy Co., Ltd. was made a wholly owned subsidiary in July 2025 through a simplified share exchange (renamed "Toei Joy Entertainment Co., Ltd." effective April 2026). The company now fully controls the operation of 230 screens across 23 sites of cinema complexes, and the Exhibition segment achieved segment profit of ¥2,403 million in FY2026 (ending March 2026), up 207.0% year on year.
Renewal construction at Toei Uzumasa Eigamura is currently underway. In FY2026 (ending March 2026), restrictions on operating areas and operating days affected visitor numbers, resulting in sluggish sales growth. Recovery in visitor numbers and revenue expansion are expected once the renewal is complete, but the loss of revenue opportunities during the construction period remains an ongoing risk.
Promoting rent optimization in line with market rates at mixed-use commercial facilities such as "Toei Plaza (Shibuya, Fukuoka, Hiroshima, Sendai)" and "Shinjuku Sanchome East Building." The Yuzawa Toei Hotel and Fukuoka Toei Hotel achieved record-high revenue and profit in FY2026 (ending March 2026). Amid external factors such as soaring construction and labor costs casting a shadow over redevelopment projects, the policy is to prioritize maximizing the profitability of existing assets.
Last updated: July 19, 2026