Tose (TSE: 4728), a Kyoto-based contract developer of video games and digital content that works largely on a behind-the-scenes, OEM basis for publishers, reported results for the first nine months of the fiscal year ending August 2026 — the period from September 1, 2025 to May 31, 2026. Sales edged down 0.8% to ¥4,822m, operating profit fell 44.8% to ¥280m and ordinary profit fell 35.9% to ¥322m, while net profit attributable to owners rose 61.0% to ¥200m. Nine-month EPS was ¥26.46, up from ¥16.43.
Profit retreats from a strong prior year
Operating and ordinary profit fell sharply against an unusually strong prior-year period, when nine-month sales had surged nearly 50% and operating profit reached ¥507m. Measured against that high base, the current nine-month operating profit of ¥280m represents a 44.8% decline, and ordinary profit of ¥322m a 35.9% drop. Net profit nonetheless rose 61.0% to ¥200m, helped by lower tax and improved non-operating and extraordinary items, and comprehensive income jumped 146.9% to ¥284m.
Balance sheet and dividend
Total assets stood at ¥7,751m and net assets at ¥6,256m, lifting the equity ratio to 80.2% from 78.1% — a notably strong capital position for a company of its size. Tose left its dividend plan unchanged, guiding a full-year FY8/26 payout of ¥25.00 (an interim ¥12.50 plus a year-end ¥12.50), unchanged from FY8/25.
Full-year outlook
For the full year to August 2026, Tose guides sales of ¥6,510m (−1.9%), operating profit of ¥405m (−41.3%) and ordinary profit of ¥410m (−39.5%). Net profit is nonetheless expected to jump 215.7% to ¥790m, reflecting an anticipated extraordinary gain, for EPS of ¥104.23.
| Metric | 9M FY8/26 | 9M FY8/25 | YoY |
|---|---|---|---|
| Sales (¥m) | 4,822 | 4,863 | −0.8% |
| Operating profit (¥m) | 280 | 507 | −44.8% |
| Ordinary profit (¥m) | 322 | 503 | −35.9% |
| Net profit attrib. (¥m) | 200 | 124 | +61.0% |
| EPS (¥) | 26.46 | 16.43 | +61.0% |
| Equity ratio | 80.2% | 78.1% | +2.1pp |
JapanStockPulse provides informational content only and does not constitute investment advice. Figures are taken from the company's published earnings short report and may be subject to subsequent revision.