Tsuburaya Fields Q1 Profit Falls 15% on Machine-Sales Timing, but Company Raises Full-Year Outlook and Adds Special Dividend

Tsuburaya Fields Holdings, Inc. (TSE: 2767), owner of the Ultraman intellectual property through Tsuburaya Productions and one of Japan's largest planners and distributors of pachinko and pachislot machines, reported consolidated results for the first quarter of the fiscal year ending March 2027 — the three months from April 1 to June 30, 2026 — under Japanese GAAP. Revenue fell 21.3% to ¥43,715 million, operating profit declined 11.9% to ¥6,881 million, ordinary profit slipped 11.6% to ¥7,074 million, and net profit attributable to owners of the parent dropped 15.0% to ¥4,740 million. Basic earnings per share were ¥76.14, down from ¥89.61, with diluted EPS of ¥76.07 against ¥89.36 a year earlier. Comprehensive income was ¥4,746 million, 6.2% lower year on year.

A tough comparison, not a downturn

The double-digit declines sit against an exceptional base. In the same quarter a year earlier, revenue had surged 112.2% to ¥55,555 million and operating profit had jumped 210.0% to ¥7,809 million, a result driven by a concentrated wave of machine deliveries. Measured against that peak, the current quarter still represents a high level of activity — and profitability actually improved. Because revenue fell faster than profit, the operating margin widened to roughly 15.7% from 14.1% a year earlier, a mix effect that reflects the timing of pachinko and pachislot machine releases rather than any deterioration in the underlying business.

Ultraman IP and machine pipeline

The group's earnings rest on two connected pillars. Tsuburaya Productions manages the Ultraman franchise — one of Japan's most durable character properties — generating licensing, merchandising and content revenue both at home and increasingly across Asia. The Fields side plans, develops and distributes pachinko and pachislot machines, frequently drawing on the group's own and third-party entertainment IP. Because a single machine title can ship tens of thousands of units within a matter of weeks, quarterly revenue swings sharply with the release calendar, and comparisons between individual quarters say more about launch timing than about demand.

Guidance raised, medium-term plan revised

Alongside the quarterly numbers, management revised its full-year FY3/2027 guidance upward and published an update to its medium-term management plan on the same day. The company now expects revenue of ¥205,300 million (+17.9%), operating profit of ¥22,500 million (+28.9%), ordinary profit of ¥22,650 million (+27.6%) and net profit attributable to owners of ¥15,000 million (+14.9%), with EPS of ¥240.95. The first quarter's ¥6.88 billion of operating profit already covers about 31% of that raised full-year target. On the balance sheet, total assets rose to ¥110,434 million at June 30, 2026 from ¥103,360 million at the end of March, while net assets edged up to ¥66,573 million from ¥66,187 million; shareholders' equity stood at ¥60,993 million and the equity ratio eased to 55.2% from 58.9% as the asset base expanded.

Special dividend doubles the payout

In a separate release issued the same day, July 27, 2026, the company announced a ¥70.00 special dividend payable at the interim (second-quarter) record date. Combined with the ¥70.00 year-end dividend already planned, that takes the FY3/2027 annual payout to ¥140.00 per share — double the ¥70.00 distributed in FY3/2026, which consisted of no interim dividend and a ¥70.00 year-end payment.

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.