Distrib/exhib expects sales of $2.12 billion
TOKYO — Leading distrib and exhib Toho has upped estimates for its midterm and 2008 fiscal year from figures announced on Sept. 30.Toho has upticked its consolidated midterm sales forecast from $1.07 billion to $1.14 billion, while raising the estimate for operating profit from $102 million to $150 million and pretax profit from $117 million to $169 million. For the entire fiscal year, ending in March, Toho now expects consolidated sales of $2.12 billion, up from $2.04 billion. It is also raising its forecast for operating profit from $189 million to $219 million and for pretax profit from $204 million to $248 million. It expects net profit after tax to fall from its previous estimate of $78.6 million to $67.3 million, however. Toho’s total B.O. from January to September amounted to $612 million, with hits including “Ponyo on the Cliff by the Sea,” “Boys Over Flowers,” “The Magic Hour,” “Detroit Metal City” and “20th Century Boys,” making a major contribution. Other core businesses, including legit theater and real estate, have also been prospering. The drop in the estimate for net profit after tax derives from a $61million extraordinary loss on the share price of investments. Toho will formally announce its first half results on Friday.