Third Quarter of the Fiscal Year Ending February 2024
(March 1, 2023 – November 30, 2023)

Financial Results Presentation

Monday, January 15, 2024

©2024 "Haikyuu!!" Production Committee ©Haruichi Furudate/Shueisha

Overview of Operating Results for Q3 FY2/24

FY2/23

FY2/24(Mar. - Nov. 2022)(Mar. - Nov. 2023)

Operating revenue¥179,738 million

Operating profit

YoY

Percentagechanges¥203,100 million¥23,361 million

13.0%¥35,867 million¥41,610 million¥5,743 million

16.0%

Ordinary profit¥40,913 million¥44,182 million¥3,269 million

8.0%

Profit attributable to owners ofparent¥27,138 million¥28,402 million¥1,263 million

4.7%

1

Overview of Operating Results for Q3 FY2/24[TOHO VISION 2032 - Toho Group Management Strategy]
In April 2022, we formulated the "TOHO VISION 2032 - Toho Group Management Strategy" in preparation for our 100th-anniversary milestone.
This strategy is composed of the "Long-Term Vision 2032" and the specific measures for the next three years outlined in the "Medium-TermManagement Plan 2025." We remain committed to working towards sustainable growth and enhancing our corporate value in the medium to longterm. For more details, please refer to this link (only available in Japanese).

[Overview of the Q3 Operating Results]
In the Production and Distribution business, both sales and profits increased thanks to "The Boy and the Heron," which continued to be screened
from Q2, as well as "GODZILLA MINUS ONE" and "Don't Call it Mystery" and other hit films.
In the Movie Theater Chain business, sales and profits increased thanks to the contribution of hit films centered on the above-mentioned
distributed works.
In the Production and Licensing business, sales and profits increased as TOHO animation works such as "JUJUTSU KAISEN," "My HeroAcademia", and "SPY x FAMILY" performed well thanks to divergent developments such as video distribution, merchandising rights, andpackaging sales.
In the Cinema business as a whole, thanks to the factors mentioned above, we achieved increased sales and profits compared to the same
period in the previous year.
In the Theatrical business, sales and profits increased, due to strong sales of "Roald Dahl’s Charlie and the Chocolate Factory" at the Imperial
Theatre, which drew attention as the first performance in Japan, “The World of Kunze & Levay” at the Theatre Creation, and "Ragtime" at theNissay Theatre, among other productions.
In the Real Estate segment, the Lease of Land and Buildings business, including the successful operation of new properties such as "TOHOHIBIYA PROMENADE BUILDING," performed well. However, due to an increase in depreciation expenses, etc., leading to a slight decrease inprofit despite increased sales.
As a result of the above, for Q3, we achieved increased sales and profits, including operating revenue, operating profit, ordinary profit, and profit
attributable to owners of parent.

2Operating Results by Segment

Operating revenue
FY2/23

FY2/24(Mar. - Nov. 2022)(Mar. - Nov. 2023)

115,504

136,262

Production and Distribution

29,154

Movie Theater Chain
Production and Licensing

Operating profit
FY2/23

FY2/24(Mar. - Nov. 2022)(Mar. - Nov. 2023)

18.0%

23,01929,68028.9%

33,19813.9%

10,907

11,6687.0%

52,767

58,956

11.7%

5,860

9,086

55.1%

33,581

44,107

31.3%

6,252

8,925

42.8%

(ii) Theatrical business

13,875

14,5084.6%

2,233

2,256

1.0%

(iii) Real Estate business

49,482

51,3933.9%

13,708

13,619-0.6%

Lease of Land and Buildings

20,937

21,917

4.7%

9,044

8,841

-2.2%

Road

21,083

21,639

2.6%

3,978

3,943

-0.9%

Building Maintenance

7,462

7,837

5.0%

686

834

21.6%

876

935

6.8% ?

165

191

16.1%

(i) Cinema business(iv) Other business

Percentagechanges

Percentagechanges(Million yen)3

Quarterly Operating Results by Segment
Operating revenue

Operating profit

Q1

Q2

Q3

Q1

Q2

Q3

(Mar. - May 2023)(Jun. – Aug. 2023)(Sep. – Nov. 2023)(Mar. - May 2023)(Jun. – Aug. 2023)(Sep. – Nov. 2023)(i) Cinema business

50,92543,946

41,39013,155

9,676

6,849

Production and Distribution

13,85910,615

8,723

5,798

3,812

2,057

Movie Theater Chain

23,207

21,30914,439

4,668

3,445

971

Production and Licensing

13,85912,021

18,226

2,688

2,417

3,819

(ii) Theatrical business

5,385

4,321

4,800

1,212

52

991

(iii) Real Estate business

17,535

16,927

16,930

5,160

4,089

4,369

Lease of Land and Buildings

7,2697,261

7,386

3,302

2,729

2,809

Road

7,768

6,922

6,948

1,632

1,008

1,301

Building Maintenance

2,498

2,743

2,595

225

351

257

(iv) Other business

305

293

336

51

62

77

74,15365,48963,45818,324

12,42810,858

Total(Million yen)4Operating Results by Segment [Cinema business]
営業利益
Operatingprofit

営業収入
Operatingrevenue
136,262
106,865

29,680115,504
23,01916,328

FY2/22(Mar. 2021-Nov 2021)
2022年2月期（2021年3月～11月）

FY2/23(Mar. 2022-Nov. 2022)
2023年2月期（2022年3月～11月）

FY2/24(Mar. 2023-Nov. 2023)
2024年2月期（2023年3月～11月）

2022年2月期（2021年3月～11月）
FY2/22(Mar. 2021-Nov. 2021)

2023年2月期（2022年3月～11月）
FY2/23(Mar. 2022-Nov. 2022)

2024年2月期（2023年3月～11月）
FY2/24(Mar. 2023-Nov. 2023)(単位：百万円）(Million yen)

Performance
Analysis (Factors of Increase/Decrease)
業績分析（増減要因）◼

In the Production and Distribution business, sales of "GODZILLA MINUS ONE" (box office revenue: ¥4.85 billion), which is the Godzilla 70th anniversarycommemorative title, "Don't Call it Mystery" (¥4.76 billion), and "THE SILENT SERVICE" (¥1.35 billion) remained high.
Although we did not have blockbuster hits on the scale of the previous year's "Suzume," the number of hits with box office revenues of ¥1 billion or more
exceeded the previous year. This resulted in growth in both sales and profits for the overall Production and Distribution business.
(box office revenues are as of December 31, 2023)◼

In the Movie Theater Chain business, the revised movie ticket price from June 2023 and strong sales of films, mainly those distributed by TOHO as
mentioned above, helped the increase in sales and profits.
On November 30, TOHO Cinemas Susukino (with 10 screens) opened in Chuo-ku, Sapporo, Hokkaido.

◼

In the Production and Licensing business, royalty revenues, including digital distribution rights and licenses for merchandise production of "JUJUTSU
KAISEN," "My Hero Academia" and "SPY x FAMILY and others performed well. In the Home Entertainment business, sales of "Suzume" and the second"JUJUTSU KAISEN" TV series were robust. In the Publishing and Merchandising business, sales of movie booklets and character products of"GODZILLA MINUS ONE" were strong. For the Production and Licensing business as a whole, both sales and profits increased.
5

Major Works Operated in Q3

Works distributed by Toho Co., Ltd. (over ¥1 billion box office revenue)

Release date

Box office revenue

GODZILLA MINUS ONE

Nov. 3

48.5

Don't Call it Mystery

Sep. 15

47.6

THE SILENT SERVICE

Sep. 29

13.5

AnalogOct. 6

11.8

KUBI

Nov. 23

10.9

Jul. 14

86.9

Title(Reference)
The Boy and the Heron(The box office revenue is as of the end of December 2023/100 million yen)

6

Changes in the Production and Distribution Business/Movie Theater Chain Business in Q3
Changes in box-office revenue of the Production and Distribution businessChanges in box-office revenue of the Movie Theater Chain business(Million yen)

(Million yen)

FY2/23

FY2/24

YoY

Mar

4,494

4,896

108.9%

154.3%

Apr

5,203

7,374

141.7%

8,767

100.6%

May

6,004

8,133

135.5%

20,506

26,703130.2%

Q1

15,702

20,404129.9%

Jun

2,616

3,182

121.6%

Jun

5,092

5,864

115.2%

Jul

4,161

6,867

165.0%

Jul

5,949

6,395

107.5%

Aug

4,150

9,148

220.4%

Aug

7,871

6,624

84.2%

Q210,928

19,197

175.7%

Q2

18,914

18,884

99.8%

Sep

3,302

5,070

153.5%

Sep

4,650

4,952

106.5%

Oct

2,640

4,689

177.6%

Oct

3,683

3,911

106.2%

Nov

7,239

5,175

71.5%

Nov

4,630

3,740

80.8%

Q3

13,182

14,935113.3%

Q3

12,964

12,60497.2%

FY2/23

FY2/24

YoY

Mar

4,404

6,547

148.7%

Apr

7,382

11,388

May

8,719

Q1

Note: The box-office revenue from works distributed by Distribution Department, Toho Co., Ltd.

100 million yen

Note: The box-office revenue from works screened by TOHO Cinemas Ltd. and others across Japan (including works distributed by Toho Co., Ltd.)Monthly box-office revenues compared with the previous
two fiscal years in the Production and Distribution business (fiscal years)

2021

2022

100 million yen

Monthly box-office revenues compared with the previous
two fiscal years in the Movie Theater Chain business (fiscal years)

2021

2023

2022

2023

Box-office revenue

Box-office revenue
JanFebMar

AprMayJunJulAug

Sep

Oct

Nov

JanFebMar

AprMayJunJulAug

Sep

Oct

Nov7

Management Strategy and TOHO animation
The Group positions animation as a driver for future growth, and is pursuing divergent, multi-layered and long-term business development
by focusing its resources on strengthening the competitiveness of its own brands in order to make the animation business the "FourthPillar."Direction of Business Portfolio—From three business pillars to four
Production and Distribution
business

１(Movie production/Distribution to movie theaters)

Movie Theater Chain business

Cinemabusiness(Management of movie theaters)

４

Production and Licensing
business(Animation production/Homeentertainment/Related merchandise sales)

Traditional threepillars

２３TheatricalbusinessReal Estatebusiness

Animationbusiness
To the fourth pillar—Topics for Animation Business➢Smartphone game "JUJUTSU KAISEN Phantom Parade: Well received.

➢2nd season of the TV animation "Frieren: Beyond Journey's End": Now broadcasting➢

2nd season of the TV animation "The Apothecary Diaries": Now broadcasting➢

Movie work "Haikyu!!: The Dumpster Battle": To be released on February 16, 2024➢

7th season of the TV animation series "My Hero Academia": Scheduled to be broadcast onMay 4th➢

TV animation series "JUJUTSU KAISEN Culling Game": Production decided➢

TV animation series "Dr.STONE SCIENCE FUTURE": Production decided

8Status of TOHO Animation
Q3 FY2/24 Animation Business: Operating Revenue by Sales Source and Sales Composition in Japan and Overseas◆ The scope of this table covers works under the label of TOHO animation and equivalents.

FY2/23Mar. - Nov.

FY2/24Mar. - Nov.

Amount ofchange

YoY

Major factors of changes

Distribution

6,103

10,883

4,780

78.3%

•（+）"JUJUTSU KAISEN" showed a significant growth.
•（+）"SPY x FAMILY" and "My Hero Academia" were favorable.

Character license

4,926

5,90898219.9%•（+）"My Hero Academia," "JUJUTSU KAISEN " and "Haikyuu!!" werestrong.

Merchandise sales

1,390

1,427

372.7%

Home entertainment

2,263

1,461

▲ 802-35.4%

Theater release

2,416

2,115

▲ 301-12.5%

Theatrical play

ー

1,054

1,054ーRoyalty and others

1,111

1,628

517

46.5%

Total

18,211

24,479

6,268

34.4%

FY2/23Mar. - Nov.

FY2/24Mar. - Nov.

Amount ofchange

YoYJapan

12,956

14,909

1,953

15.1%

60.9%

Overseas

5,255

9,569

4,314

82.1%

39.1%

•（+）Character products of "JUJUTSU KAISEN " and "My HeroAcademia" showed a growth.
•（+）"JUJUTSU KAISEN ," "TOUKEN RANBU", "Onimai: I'm Now Your Sister!", and "TheAngel Next Door Spoils Me Rotten" were favorable.

•（-）"Jujutsu Kaisen: Zero" came out in the previous fiscal year.
•（+）"BLUE GIANT" and "GRIDMAN UNIVERSE" were favorable.
•（-）"Jujutsu Kaisen: Zero" came out in the previous fiscal year.
•（+）"SPY x FAMILY" was made into a musical for the first time at theImperial Theatre.
•（+）Its related products were also strong.

•（+）Royalty from "SPY × FAMILY" and "JUJUTSU KAISEN"
contributed.

Composition ratio

Note: These materials were prepared on a voluntary basis from the viewpoint of enriching the disclosed information on the ani mation business and therefore the figures may differ from those in other financial results.

(Million yen)

9Situation of TOHO animation
Theatrical Version of SPY × FAMILY
CODE: White©2023 “Theatrical Version of SPY × FAMILY” Production Committee©Tatsuya Endo/Shueisha

A huge hit, on screen around Japan from Friday, December 22, 2023
As Season 2 of the TV anime ended while receiving a favorable reception, thefirst theatrical version of “SPY × FAMILY” was released amid rising
expectations. After its release, it attracted public attention. In 18 days from therelease until Monday, January 8, audience size was over 3.29 million people
and box-office revenue exceeded 4.4 billion yen.
The manga artist Tatsuya Endo served as a supervisor and drafted charactersfor this totally new original anime story. After its release was determined, theyrealized a variety of tie-ups, including the collaborations with “Street Fighter 6,”
the latest fighting game of the globally popular Street Fighter titles, and“Mission: Impossible - Dead Reckoning Part One,” a smash-hit film starring
Tom Cruise. Furthermore, the involvement of the actors Tomoya Nakamura andKento Kaku as special voice actors caused a stir.
Considering the popularity of the opening theme song of Season 1: “MixedNuts,” they selected “SOULSOUP” of Official Hige Dandism as the theme songof the theatrical version. On the release date, it was announced that the second
theme song is “Why” of Gen Hoshino, indicating the reunion of the artists ofSeason 1, which caused great repercussions and attracted more attention.

Bucchigiri?!

Kaiju No.8

© “Bucchigiri?!” Production Committee©The Defense Force's Third Division ©Naoya Matsumoto/Shueisha

On air via TV Tokyo and its affiliated stations from 23:00 on every
SaturdayOn air via TV Tokyo and its affiliated stations from April 2024 and to be
streamed via X (Twitter) around the world on a real-time basis

Original animation presented by MAPPA and TOHO animation, which
made Jujutsu Kaisen into anime.

The original piece is the popular comic “Kaiju No. 8” by Naoya Matsumoto,which is serialized in “Shonen Jump +” by Shueisha.

At a bad high school filled with brawls, the shallow and cowardly transfer
student Arajin Tomoshibi encountered his childhood friend Matakara
Asamine, who became No. 2 in a delinquent group. In addition, Arajin
was possessed by "Majin" Senya, a mysterious entity that masteredmartial arts, and was embroiled in a feud among bad boys! Action
comedy of youth with battles, laughs, tears, and romance.

It received a variety of manga awards inside and outside Japan, and thecumulative circulation in Japan exceeds 12 million copies (including digitalones) with only 11 volumes. Before animation, it became a big hit in Europe,
the U.S., and other countries. The anticipated animation will be realized by afantastic collaborative team composed of Production I.G (“Ghost in the Shell”series, etc.) in charge of the Animation Production and Studio khara (“NeonGenesis EVANGELION” series, etc.) in charge of Kaiju Supervision (Design& Artworks).

Directed by Hiroko Utsumi, who directed “Free!,” a popular anime aboutswimming produced by Kyoto Animation, and “SK8 the Infinity,” anoriginal anime, huge hits. Taku Kishimoto ("Haikyu!!,""Blue Lock," andso on) wrote the screenplay. MAPPA is in charge of animation. Its pop,
energetic story is causing great repercussions.

Furthermore, people are talking about this anime before the start of airing,
because it will be produced by all-star staff, including Directors Shigeyuki
Miya and Tomomi Kamiya, Character Designer & Chief Animation Director
Tetsuya Nishio (who designed the characters of “NARUTO“), Kaiju Designby Mahiro Maeda (who designed the image of Godzilla in “Shin Godzilla”),
and Music composed by Yuta Bandoh (who composed the music for “Belle”).

10Operating Results by Segment [Theatrical business]
営業利益 profit
OperatingOperatingrevenue
営業収入
13,875

14,5082,455

FY2/24(Mar. 2023-Nov. 2023)
2024年2月期（2023年3月～11月）

2022年2月期（2021年3月～11月）
FY2/22(Mar. 2021-Nov. 2021)

11,904

FY2/22(Mar. 2021-Nov. 2021)
2022年2月期（2021年3月～11月）

FY2/23(Mar. 2022-Nov. 2022)
2023年2月期（2022年3月～11月）

2,233

2,256

FY2/23(Mar. 2022-Nov. 2022)
2023年2月期（2022年3月～11月）

FY2/24(Mar. 2023-Nov. 2023)
2024年2月期（2023年3月～11月）(Million yen)
(単位：百万円）

Performance
Analysis (Factors for Increase/Decrease)
業績分析（増減要因）◼

At the Imperial Theatre, "DREAM BOYS" (September), the Japanese premiere of "Roald Dahl’s Charlie and the Chocolate Factory"(October), and the premiere of "Musical Picaresque LUPIN ~The Secret of Countess Cagliostro〜" (November) were successful.
At the Theatre Creation, "The World of Kunze & Levay" (September) and the premiere of "Nodame Cantabile" (October) were performed.
At the Nissay Theatre, "Ragtime" (September) was performed.

◼

TOHO ENTERTAINMENT CO., LTD. performed well, as it successfully cast actors, such as Masami Nagasawa, Minami Hamabe, Mone
Kamishiraishi, and Moka Kamishiraishi, for various TV commercials.

◼

Overall, the Theatrical business saw an increase in both sales and profits due to strong ticket sales and the absence of canceled
performances as occurred in the previous year, despite increased costs associated with new productions.

11Operating Results by Segment [Real Estate business]
営業利益 profit
OperatingOperatingrevenue
営業収入
47,88549,482

FY2/22 (Mar. 2021-Nov. 2021)
2022年2月期（2021年3月～11月）

FY2/23 (Mar. 2022-Nov. 2022)
2023年2月期（2022年3月～11月）

51,393
12,283

FY2/24 (Mar. 2023-Nov. 2023)
2024年2月期（2023年3月～11月）

FY2/22 (Mar. 2021-Nov. 2021)
2022年2月期（2021年3月～11月）

13,708

13,619FY2/23(Mar. 2022-Nov. 2022)
2023年2月期（2022年3月～11月）

FY2/24(Mar. 2023-Nov. 2023)
2024年2月期（2023年3月～11月）(Million yen)
(単位：百万円）

Performance
Analysis (Factors for Increase/Decrease)
業績分析（増減要因）◼ In the Lease of Land and Buildings business, the nationwide rental properties owned by us are in solid operation. In addition, new properties,
including the TOHO Hibiya Promenade Building completed in February last year, contributed to an increase in revenue, but profits decreasedslightly due to an increase in depreciation and other expenses for the Teigeki Building.
◼ In the Road business, amidst steady public investment, we worked to win new orders and additional orders for existing works throughaggressive sales activities for technical proposals, etc. However, while sales increased, profits decreased reflecting the rising labor andequipment costs and other factors.
◼ In the Building Maintenance business, sales and profits increased at TOHO BUILDING MANAGEMENT Co., Ltd. and TOHO FACILITIESCo., Ltd. due to efforts to secure new orders and reduce costs, as well as the implementation of postponed construction works.
12Business and Dividend Forecasts◼ FY2/24 Consolidated Business Forecasts (March 1, 2023 - February 29, 2024)
Operating revenue
Million yen

FY2/24 (Forecast)

Operating profit
Million yen

Ordinary profit
Million yen

Profit attributable toowners of parent

Basic earnings
Per share

Million yen

Yen

270,000

50,00054,00036,000206.20244,295

44,88047,81533,430190.37(Ref.)

FY2/23 Result*The current forecasts remain unchanged.

◼ Dividend Forecast
End-Q1Yen

End-Q2Yen

End-Q3
Yen

Year-end
Yen

Total
Yen

FY2/24 (Forecast)

―

20.00

―

40.00

60.00

(Ref.)

―

20.00

―

40.00

60.00

FY2/23 Result*The current forecasts remain unchanged.

13

Forward-looking statements are contained in these materials, but please note that actual results may
differ significantly from the statements due to changing circumstances and various factors and therefore
no guarantees are given. No part of these materials may be reproduced or duplicated in any form or by
any means without permission.
Inquiries about these materials
PR/IR Office, General Affairs Dept., TOHO CO., LTD.
Mail:pr_ir@toho.co.jp
14