Income Statement Toho Co., Ltd.

Equities

8142

JP3553200001

Food Retail & Distribution

Market Closed - Japan Exchange Other stock markets 02:30:00 2026-04-13 am EDT			5-day change	1st Jan Change
1,337.00 ^JPY	-0.59%		-1.62%	+2.85%

Mar. 12	Toho's Sales Rise 8.4% in February	MT
Mar. 12	Toho's Profit Gains 2% in Fiscal 2025	MT

7b8abe64.56X96YQdVs8yMI3FSSBPw6SBTT5u39dD0rH3KOoWXic.ndyRo7xeErVUQaCsfw049fDON00inr8Sk-KlGoxUDxOkz4yG108_-UJY-g

Published financial data: TOHO CO., LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: January	2021	2022	2023	2024	2025
Revenues	186B	189B	216B	245B	246B
Total Revenues	186B	189B	216B	245B	246B
Cost of Goods Sold, Total	150B	151B	172B	195B	197B
Gross Profit	36.4B	37.09B	43.15B	49.97B	49.03B
Selling General & Admin Expenses, Total	37.41B	35.44B	37.5B	40.16B	39.72B
Provision for Bad Debts	18M	9M	44M	98M	-28M
Depreciation & Amortization - (IS)	2.12B	2.09B	1.95B	1.9B	1.84B
Other Operating Expenses, Total	39.55B	37.54B	39.5B	42.15B	41.53B
Operating Income	-3.14B	-446M	3.65B	7.82B	7.5B
Interest Expense, Total	-115M	-129M	-128M	-127M	-133M
Interest And Investment Income	33M	24M	30M	50M	67M
Net Interest Expenses	-82M	-105M	-98M	-77M	-66M
Income (Loss) On Equity Invest.	-26M	-21M	-9M	-	-
Currency Exchange Gains (Loss)	-	-	72M	92M	139M
Other Non Operating Income (Expenses)	1.18B	748M	261M	137M	125M
EBT, Excl. Unusual Items	-2.06B	176M	3.88B	7.97B	7.69B
Gain (Loss) On Sale Of Investments	-177M	266M	-40M	-	68M
Gain (Loss) On Sale Of Assets	-6M	1.02B	13M	61M	87M
Asset Writedown	-883M	-287M	-1.57B	-1.69B	-987M
Other Unusual Items	-237M	-24M	-1.58B	-412M	327M
EBT, Incl. Unusual Items	-3.37B	1.15B	701M	5.93B	7.19B
Income Tax Expense	149M	742M	-329M	2.29B	2.66B
Earnings From Continuing Operations	-3.52B	404M	1.03B	3.64B	4.52B
Net Income to Company	-3.52B	404M	1.03B	3.64B	4.52B
Minority Interest	-74M	-69M	-24M	-31M	-39M
Net Income - (IS)	-3.59B	335M	1.01B	3.6B	4.48B
Net Income to Common Incl Extra Items	-3.59B	335M	1.01B	3.6B	4.48B
Net Income to Common Excl. Extra Items	-3.59B	335M	1.01B	3.6B	4.48B
Per Share Items
Net EPS - Basic	-111.28	10.38	31.17	111.71	138.99
Basic EPS - Continuing Operations	-111.28	10.38	31.17	111.71	138.99
Basic Weighted Average Shares Outstanding	32.27M	32.27M	32.27M	32.27M	32.27M
Net EPS - Diluted	-111.28	10.38	31.17	111.71	138.99
Diluted EPS - Continuing Operations	-111.28	10.38	31.17	111.71	138.99
Diluted Weighted Average Shares Outstanding	32.27M	32.27M	32.27M	32.27M	32.27M
Normalized Basic EPS	-42.29	1.27	74.33	153.42	147.81
Normalized Diluted EPS	-42.29	1.27	74.33	153.42	147.81
Dividend Per Share	-	1.67	11.67	30	41.67
Payout Ratio	-7.52	0.6	16	17.86	26.33
Supplemental Items
EBITDA	-93M	2.61B	6.6B	10.61B	10.11B
EBITA	-2.32B	414M	4.54B	8.6B	8.07B
EBIT	-3.14B	-446M	3.65B	7.82B	7.5B
EBITDAR	4.31B	6.92B	10.8B	14.95B	14.2B
Effective Tax Rate - (Ratio)	-4.42	64.75	-46.93	38.66	37.07
Normalized Net Income	-1.36B	41M	2.4B	4.95B	4.77B
Non-Cash Pension Expense	-290M	-240M	-326M	-396M	-374M
Supplemental Operating Expense Items
Advertising Expense	1.4B	1.28B	1.06B	1.06B	955M
Selling and Marketing Expenses	6.2B	5.95B	6.23B	6.92B	7.86B
Net Rental Expense, Total	4.4B	4.3B	4.2B	4.34B	4.09B
Imputed Operating Lease Interest Expense	125M	133M	145M	176M	208M
Imputed Operating Lease Depreciation	4.28B	4.17B	4.06B	4.17B	3.88B

Fiscal Period: January	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	6.99B	8.7B	8.16B	9.65B	9.23B
Total Cash And Short Term Investments	6.99B	8.7B	8.16B	9.65B	9.23B
Accounts Receivable, Total	14.58B	15.03B	18.2B	19.16B	19.57B
Total Receivables	14.58B	15.03B	18.2B	19.16B	19.57B
Inventory	10.29B	10.84B	12.59B	12.97B	13.76B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	3.39B	3.18B	3.53B	3.74B	3.83B
Total Current Assets	35.25B	37.75B	42.48B	45.53B	46.38B
Net Property Plant And Equipment	29.64B	27.47B	26.95B	25.68B	26.01B
Long-term Investments	10.06B	9.93B	10.25B	12.31B	12.21B
Goodwill	6.65B	6.15B	4.72B	2.8B	1.76B
Other Intangibles, Total	897M	683M	628M	965M	1.48B
Deferred Tax Assets Long-Term	664M	722M	2.33B	1.02B	476M
Other Long-Term Assets, Total	2M	2M	1M	-1M	-
Total Assets	83.16B	82.7B	87.35B	88.3B	88.32B
Liabilities
Accounts Payable, Total	20.86B	23.56B	26.3B	28.06B	28.97B
Accrued Expenses, Total	418M	448M	915M	981M	512M
Short-term Borrowings	11.77B	11.73B	11.18B	8.39B	-
Current Portion of Long-Term Debt	-	-	-	-	7.59B
Current Income Taxes Payable	408M	691M	1.18B	1.11B	1.33B
Other Current Liabilities	4.43B	3.55B	5.75B	5.94B	4.4B
Total Current Liabilities	37.88B	39.98B	45.33B	44.48B	42.8B
Long-Term Debt	22.16B	19B	15.65B	13.04B	10.92B
Long-Term Leases	1.16B	930M	958M	915M	953M
Pension & Other Post Retirement Benefits	431M	458M	467M	474M	468M
Deferred Tax Liability Non Current	720M	641M	732M	471M	450M
Other Non Current Liabilities	1.43B	1.46B	1.47B	1.36B	1.62B
Total Liabilities	63.78B	62.47B	64.6B	60.73B	57.2B
Common Stock, Total	5.34B	5.34B	5.34B	5.34B	5.34B
Additional Paid In Capital	5.09B	5.1B	5.1B	5.06B	5.08B
Retained Earnings	8.86B	9.2B	10.04B	13B	16.3B
Treasury Stock	-639M	-639M	-639M	-640M	-661M
Comprehensive Income and Other	136M	919M	2.56B	4.43B	4.67B
Total Common Equity	18.79B	19.92B	22.41B	27.2B	30.73B
Minority Interest	589M	314M	343M	367M	386M
Total Equity	19.38B	20.24B	22.75B	27.56B	31.12B
Total Liabilities And Equity	83.16B	82.7B	87.35B	88.3B	88.32B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	32.27M	32.27M	32.27M	32.27M	32.27M
ECS Total Common Shares Outstanding	32.27M	32.27M	32.27M	32.27M	32.27M
Book Value / Share	582.35	617.34	694.39	842.81	952.37
Tangible Book Value	11.24B	13.09B	17.06B	23.43B	27.49B
Tangible Book Value Per Share	348.36	405.6	528.7	726.13	851.81
Total Debt	35.09B	31.66B	27.78B	22.34B	19.46B
Net Debt	28.1B	22.96B	19.62B	12.69B	10.23B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-2.83B	-3.43B	-4.21B	-5.51B	-5.88B
Debt Equivalent Oper. Leases	35.23B	34.43B	33.62B	34.74B	32.7B
Minority Interest, Total (Incl. Fin. Div)	589M	314M	343M	367M	386M
Equity Method Investments, Total	434M	411M	-	-	-
Inventories - Raw Materials, Total	33M	26M	36M	35M	23M
Inventories - Work In Process, Total	-	-	-	267M	210M
Inventories - Finished Goods, Total	10.26B	10.81B	12.55B	12.66B	13.52B
Inventories - Others	1M	1M	-	-	-1M
Full Time Employees	2.74K	2.58K	2.52K	2.51K	2.41K
Accumulated Allowance for Doubtful Accounts (Supple)	61M	75M	98M	117M	142M

Fiscal Period: January	2021	2022	2023	2024	2025
Net Income	-3.37B	1.15B	702M	5.93B	7.19B
Depreciation & Amortization - CF	2.23B	2.2B	2.06B	2.01B	2.04B
Amortization of Goodwill and Intangible Assets - (CF)	822M	860M	886M	785M	574M
Depreciation & Amortization, Total	3.05B	3.06B	2.95B	2.79B	2.62B
(Gain) Loss From Sale Of Asset	849M	-727M	1.56B	1.57B	899M
(Gain) Loss on Sale of Investments - (CF)	178M	-265M	40M	-	-68M
(Income) Loss On Equity Investments - (CF)	26M	21M	9M	-	-
Other Operating Activities, Total	-1.15B	-549M	-1.03B	-1.81B	-1.57B
Change In Accounts Receivable	4.27B	-375M	-2.99B	-872M	-264M
Change In Inventories	2.05B	-508M	-1.66B	-324M	-706M
Change In Accounts Payable	-6.46B	2.65B	2.8B	2.05B	299M
Change in Other Net Operating Assets	697M	-906M	1.73B	-28M	-1.9B
Cash from Operations	139M	3.55B	4.11B	9.3B	6.49B
Capital Expenditure	-2B	-1.02B	-1.11B	-2.01B	-3.25B
Sale of Property, Plant, and Equipment	511M	2.6B	308M	572M	1.08B
Cash Acquisitions	-978M	-	-	-40M	-
Divestitures	-	-	397M	-	-
Investment in Marketable and Equity Securities, Total	-10M	521M	-460M	254M	433M
Other Investing Activities, Total	2M	-23M	-68M	-29M	-426M
Cash from Investing	-2.47B	2.08B	-931M	-1.25B	-2.16B
Short Term Debt Issued, Total	300M	-	500M	-	-
Long-Term Debt Issued, Total	16.69B	9.65B	8.2B	6.8B	6.5B
Total Debt Issued	16.99B	9.65B	8.7B	6.8B	6.5B
Short Term Debt Repaid, Total	-	-300M	-	-500M	-
Long-Term Debt Repaid, Total	-12.94B	-12.55B	-12.6B	-11.7B	-9.42B
Total Debt Repaid	-12.94B	-12.85B	-12.6B	-12.2B	-9.42B
Issuance of Common Stock	-	-	-	-	96M
Repurchase of Common Stock	-	-	-	-	-96M
Common Dividends Paid	-270M	-2M	-161M	-644M	-1.18B
Common & Preferred Stock Dividends Paid	-270M	-2M	-161M	-644M	-1.18B
Other Financing Activities, Total	-1.32B	-798M	-416M	-476M	-530M
Cash from Financing	2.45B	-4B	-4.48B	-6.52B	-4.63B
Foreign Exchange Rate Adjustments	-69M	133M	213M	172M	197M
Miscellaneous Cash Flow Adjustments	-	2M	1M	-	-
Net Change in Cash	49M	1.76B	-1.08B	1.7B	-107M
Supplemental Items
Cash Interest Paid	115M	121M	120M	120M	124M
Cash Income Tax Paid (Refund)	1.17B	556M	1.04B	1.83B	1.58B
Levered Free Cash Flow	-923M	3.03B	4.67B	5.97B	1.81B
Unlevered Free Cash Flow	-851M	3.11B	4.75B	6.05B	1.9B
Change In Net Working Capital	-63M	-1.34B	-635M	-380M	2.16B
Net Debt Issued / Repaid	4.05B	-3.2B	-3.9B	-5.4B	-2.92B

Fiscal Period: January	2021	2022	2023	2024	2025
Profitability
Return on Assets	-2.26	-0.34	2.68	5.56	5.31
Return on Total Capital	-3.6	-0.52	4.45	9.73	9.32
Return On Equity %	-15.99	2.04	4.79	14.45	15.42
Return on Common Equity	-16.86	1.73	4.75	14.53	15.48
Margin Analysis
Gross Profit Margin %	19.55	19.67	20.02	20.4	19.89
SG&A Margin	20.09	18.79	17.4	16.4	16.12
EBITDA Margin %	-0.05	1.38	3.06	4.33	4.1
EBITA Margin %	-1.25	0.22	2.1	3.51	3.27
EBIT Margin %	-1.69	-0.24	1.69	3.19	3.04
Income From Continuing Operations Margin %	-1.89	0.21	0.48	1.48	1.84
Net Income Margin %	-1.93	0.18	0.47	1.47	1.82
Net Avail. For Common Margin %	-1.93	0.18	0.47	1.47	1.82
Normalized Net Income Margin	-0.73	0.02	1.11	2.02	1.94
Levered Free Cash Flow Margin	-0.5	1.61	2.17	2.44	0.74
Unlevered Free Cash Flow Margin	-0.46	1.65	2.21	2.47	0.77
Asset Turnover
Asset Turnover	2.14	2.27	2.54	2.79	2.79
Fixed Assets Turnover	6.25	6.6	7.92	9.31	9.54
Receivables Turnover (Average Receivables)	11.2	12.73	12.98	13.11	12.73
Inventory Turnover (Average Inventory)	13.31	14.34	14.72	15.26	14.78
Short Term Liquidity
Current Ratio	0.93	0.94	0.94	1.02	1.08
Quick Ratio	0.57	0.59	0.58	0.65	0.67
Operating Cash Flow to Current Liabilities	0	0.09	0.09	0.21	0.15
Days Sales Outstanding (Average Receivables)	32.68	28.66	28.13	27.84	28.76
Days Outstanding Inventory (Average Inventory)	27.5	25.46	24.8	23.92	24.77
Average Days Payable Outstanding	59.63	53.31	52.24	50.79	52.65
Cash Conversion Cycle (Average Days)	0.54	0.8	0.69	0.97	0.88
Long Term Solvency
Total Debt/Equity	181.05	156.44	122.13	81.05	62.53
Total Debt / Total Capital	64.42	61	54.98	44.77	38.47
LT Debt/Equity	120.32	98.48	72.99	50.63	38.15
Long-Term Debt / Total Capital	42.81	38.4	32.86	27.96	23.47
Total Liabilities / Total Assets	76.69	75.53	73.95	68.78	64.77
EBIT / Interest Expense	-27.32	-3.46	28.52	61.57	56.36
EBITDA / Interest Expense	-0.81	20.24	51.53	83.55	76.04
(EBITDA - Capex) / Interest Expense	-18.19	12.37	42.88	67.74	51.62
Total Debt / EBITDA	-377.32	12.12	4.21	2.11	1.92
Net Debt / EBITDA	-302.18	8.79	2.97	1.2	1.01
Total Debt / (EBITDA - Capex)	-16.77	19.84	5.06	2.6	2.83
Net Debt / (EBITDA - Capex)	-13.43	14.38	3.58	1.48	1.49
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-19.48	1.26	14.32	13.62	0.63
Gross Profit, 1 Yr. Growth %	-17.46	1.89	16.34	15.81	-1.89
EBITDA, 1 Yr. Growth %	-102.08	-2.91K	152.62	60.87	-4.69
EBITA, 1 Yr. Growth %	-204.41	-117.84	995.65	89.68	-6.21
EBIT, 1 Yr. Growth %	-319.26	-85.81	-918.39	114.22	-4.13
Earnings From Cont. Operations, 1 Yr. Growth %	-773.75	-111.49	154.95	253.01	24.42
Net Income, 1 Yr. Growth %	-857.59	-109.33	200.3	258.35	24.41
Normalized Net Income, 1 Yr. Growth %	-251.71	-103	5.75K	106.42	-3.66
Diluted EPS Before Extra, 1 Yr. Growth %	-857.61	-109.33	200.3	258.36	24.41
Accounts Receivable, 1 Yr. Growth %	-21.92	3.09	21.03	5.33	2.12
Inventory, 1 Yr. Growth %	-15.81	5.36	16.11	3.02	6.08
Net Property, Plant and Equip., 1 Yr. Growth %	-1.07	-7.31	-1.88	-4.72	1.27
Total Assets, 1 Yr. Growth %	-8.36	-0.55	5.62	1.08	0.03
Tangible Book Value, 1 Yr. Growth %	-28.01	16.43	30.35	37.34	17.31
Common Equity, 1 Yr. Growth %	-21.06	6.01	12.48	21.37	13
Cash From Operations, 1 Yr. Growth %	-94.44	2.45K	15.87	126.35	-30.24
Capital Expenditures, 1 Yr. Growth %	6.22	-49.22	9.16	81.23	61.75
Levered Free Cash Flow, 1 Yr. Growth %	-152.49	-428.15	54.39	27.75	-69.66
Unlevered Free Cash Flow, 1 Yr. Growth %	-146.45	-465.35	52.96	27.27	-68.68
Dividend Per Share, 1 Yr. Growth %	-	-	599.99	157.14	38.89
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-7.51	-9.7	7.59	13.97	6.93
Gross Profit, 2 Yr. CAGR %	-6.65	-8.29	8.87	16.07	6.6
EBITDA, 2 Yr. CAGR %	-85.2	-23.51	742.17	101.59	23.82
EBITA, 2 Yr. CAGR %	0.87	-56.84	39.83	355.88	33.38
EBIT, 2 Yr. CAGR %	38.54	-44.21	7.78	318.7	43.31
Earnings From Cont. Operations, 2 Yr. CAGR %	94.89	-12.03	-45.88	200	109.58
Net Income, 2 Yr. CAGR %	105.66	-15.93	-47.07	228.04	111.15
Normalized Net Income, 2 Yr. CAGR %	15.82	-78.65	32.58	998.88	41.02
Diluted EPS Before Extra, 2 Yr. CAGR %	105.66	-15.93	-47.07	228.05	111.15
Accounts Receivable, 2 Yr. CAGR %	-8.79	-10.28	11.7	12.91	3.72
Inventory, 2 Yr. CAGR %	-6.44	-5.82	10.6	9.37	4.54
Net Property, Plant and Equip., 2 Yr. CAGR %	0.35	-4.24	-4.64	-3.31	-1.77
Total Assets, 2 Yr. CAGR %	-3.47	-4.53	2.49	3.33	0.55
Tangible Book Value, 2 Yr. CAGR %	-13.31	-8.44	23.19	33.8	26.93
Common Equity, 2 Yr. CAGR %	-11.24	-8.52	9.2	16.84	17.11
Cash From Operations, 2 Yr. CAGR %	-79.56	19.11	443.77	61.95	25.66
Capital Expenditures, 2 Yr. CAGR %	-8.22	-26.56	-25.55	40.65	71.21
Levered Free Cash Flow, 2 Yr. CAGR %	31	31.24	125.08	40.44	-37.74
Unlevered Free Cash Flow, 2 Yr. CAGR %	33.29	30.27	136.4	39.52	-36.87
Dividend Per Share, 2 Yr. CAGR %	-	-68.38	-	324.26	88.98
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-3.56	-4.67	-2.32	9.57	9.34
Gross Profit, 3 Yr. CAGR %	-2.81	-3.89	-0.73	11.14	9.75
EBITDA, 3 Yr. CAGR %	-71.52	-14.94	13.91	385.02	57.05
EBITA, 3 Yr. CAGR %	-0.03	-43.37	26.86	54.79	169.13
EBIT, 3 Yr. CAGR %	19.55	-35.17	36.57	35.51	156.15
Earnings From Cont. Operations, 3 Yr. CAGR %	99.04	-24.16	25.43	1.12	123.72
Net Income, 3 Yr. CAGR %	98.66	-26.65	28.51	0.13	137.45
Normalized Net Income, 3 Yr. CAGR %	7.3	-65.72	38.67	53.66	388.17
Diluted EPS Before Extra, 3 Yr. CAGR %	98.99	-26.65	28.51	0.13	137.45
Accounts Receivable, 3 Yr. CAGR %	-0.95	-4.99	-0.86	9.54	9.19
Inventory, 3 Yr. CAGR %	1.3	-2.66	0.99	8.02	8.26
Net Property, Plant and Equip., 3 Yr. CAGR %	0.41	-2.27	-3.46	-4.66	-1.81
Total Assets, 3 Yr. CAGR %	0.34	-2.51	-1.26	2.02	2.21
Tangible Book Value, 3 Yr. CAGR %	-17.28	-4.35	3	27.74	28.06
Common Equity, 3 Yr. CAGR %	-8.73	-5.83	-2	13.11	15.55
Cash From Operations, 3 Yr. CAGR %	-60.72	2.17	18.02	306.01	22.31
Capital Expenditures, 3 Yr. CAGR %	-7.91	-24.65	-16.19	0.15	47.36
Levered Free Cash Flow, 3 Yr. CAGR %	32	77.91	38.54	86.36	-15.73
Unlevered Free Cash Flow, 3 Yr. CAGR %	33.37	86.54	37.43	92.31	-15.21
Dividend Per Share, 3 Yr. CAGR %	-	-53.58	-11.21	-	192.4
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-2.84	-2.11	0.75	2.39	1.28
Gross Profit, 5 Yr. CAGR %	-1.81	-1.5	1.7	3.65	2.14
EBITDA, 5 Yr. CAGR %	-54.56	-12.06	10.38	20.12	17.77
EBITA, 5 Yr. CAGR %	-6.08	-33.88	14.33	30.42	29.43
EBIT, 5 Yr. CAGR %	2.75	-31.01	14.69	36.72	39.22
Earnings From Cont. Operations, 5 Yr. CAGR %	28.55	-18.88	18.22	31.46	54.02
Net Income, 5 Yr. CAGR %	28.7	-22.63	17.04	33.54	56.75
Normalized Net Income, 5 Yr. CAGR %	-2.29	-53.41	16.78	37.23	39.6
Diluted EPS Before Extra, 5 Yr. CAGR %	29.08	-22.4	17.16	33.54	56.75
Accounts Receivable, 5 Yr. CAGR %	-3.09	-0.33	3.93	1.8	0.94
Inventory, 5 Yr. CAGR %	0.91	2.67	4.93	1.98	2.39
Net Property, Plant and Equip., 5 Yr. CAGR %	1.44	-0.89	-1.64	-2.69	-2.79
Total Assets, 5 Yr. CAGR %	1.17	1.32	1.19	-0.22	-0.54
Tangible Book Value, 5 Yr. CAGR %	-11.45	-9.09	-3	9.39	11.97
Common Equity, 5 Yr. CAGR %	-4.83	-4.24	-1.94	2.66	5.24
Cash From Operations, 5 Yr. CAGR %	-45.3	-4.9	12.37	22.84	21.02
Capital Expenditures, 5 Yr. CAGR %	6.27	-17.98	-15.42	-3.29	11.53
Levered Free Cash Flow, 5 Yr. CAGR %	-8.28	7.39	63.41	61.85	0.61
Unlevered Free Cash Flow, 5 Yr. CAGR %	-10.73	7.36	67.68	66.08	0.68
Dividend Per Share, 5 Yr. CAGR %	-	-36.9	-6.88	12.47	20.11