1. Japan Stocks

  2. •

    Consumer Cyclical

  3. •

    Gambling, Resorts & Casinos
Tokyotokeiba Co.,Ltd.

Tokyotokeiba Co.,Ltd.

9672.T
Tokyotokeiba Co.,Ltd.JP flagTokyo Stock Exchange
4,845.00
JPY
-30.00
- -
126.15BMarket Cap
Tokyotokeiba Co.,Ltd.
9672.T
(Tokyo Stock Exchange)

Recent

price

4,845.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
582.88
530.13
564.43
566.65
622.96
645.73
694.21
745.69
796.91
869.72
1,008.28
1,121.72
1,293.23
1,369.76
1,515.28
1,565.59
1,418.32
Revenue per Share
62.93
25.5
55.54
56.64
64.08
90.22
108.07
141.92
158.13
182.11
181.24
320.44
342.41
308.37
363.66
392.22
343.26
Basic EPS, GAAP
31.69
-9.26
29.06
-434.98
113.76
186.16
108.82
-56.35
176.77
-50.04
341.85
121.84
285.32
-258.15
212.16
490.04
- -
Free Cash Flow per Basic Share
30
29.8
30.24
29.82
29.81
39.8
34.82
44.78
39.84
49.77
54.73
60.19
64.73
74.73
101.53
117.66
- -
Dividend per Share
1,551.59
1,547.26
1,572.97
1,599.97
1,634.42
1,684.9
1,758.22
1,855.45
1,973.97
2,106.36
2,232.89
2,508.89
2,872.12
3,105.76
3,451.17
3,727.61
3,215.04
Book Value per Share
1,753.87
1,756.09
1,791.77
1,834.67
1,848.39
1,894.89
1,972.12
2,072.84
2,196.48
2,269.99
2,381.23
2,470.87
2,697.92
2,958.4
3,180.57
3,376.15
2,942.44
Tangible Book Value per Share
29
29
29
29
29
29
29
29
29
29
29
28
27
27
27
27
27
Basic Weighted Avg Shares
16,671
15,160
16,139
16,199
17,805
18,452
19,835
21,302
22,761
24,837
28,789
31,801
35,450
37,545
40,444
41,759
38,808
Sales/Revenue/Turnover
15.77
14.19
16.1
16.77
24.32
25.6
25.87
28.33
29.15
32.14
38.81
40.26
39.95
35.59
34.43
36.91
34.87
Operating Margin (%)
3,031
3,066
3,099
3,109
3,051
3,144
3,361
3,469
3,453
4,007
4,387
4,258
4,896
5,554
6,345
6,485
- -
Depreciation Expense
1,800
729
1,588
1,619
1,831
2,578
3,088
4,054
4,516
5,201
5,175
9,084
9,386
8,452
9,706
10,462
9,392
Net Income, GAAP
39.64
52.88
38.78
38.96
42.36
35.82
37.02
32.43
30.9
30.67
33.41
30.71
29.71
30.72
30.79
30.59
31.58
Effective Tax Rate (%)
10.8
4.81
9.84
10
10.29
13.97
15.57
19.03
19.84
20.94
17.98
28.57
26.48
22.51
24
25.05
24.2
Profit Margin (%)
5,854
6,108
8,405
7,399
9,064
9,430
7,849
-750
13,147
11,393
17,771
22,129
10,920
13,884
14,193
6,247
10,953
Working Capital
1,925
925
5,100
17,000
17,000
17,094
12,000
4,125
18,000
17,000
16,000
25,000
14,000
17,250
17,450
5,750
18,300
LT Debt
51,016
50,802
51,671
52,686
53,564
55,104
57,182
59,951
63,170
66,992
70,535
72,846
80,289
86,788
91,142
94,903
87,764
Total Equity
2.89
1.87
2.85
2.57
3.5
4.18
4.34
5.3
5.67
6.5
8.34
9.18
9.48
8.58
8.75
9.31
8.25
Return on Invested Capital (%)
3.9
1.61
3.34
2.93
2.98
4.09
4.75
6
6.28
6.8
6.54
10.23
9.38
8.2
9.01
9.18
8.65
Return on Capital (%)
4.1
1.65
3.56
3.57
3.96
5.44
6.28
7.85
8.26
8.93
8.35
13.47
12.53
10.32
10.95
10.92
11.11
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'23
Mar'24
Jun'24
ST Debt
1,541
1,612
1,775
LT Borrowings
17,250
16,875
18,300
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
27
27
27
Market Capitalization
121,567
122,173
110,954

Working Capital

FRC

•

in mil. unless spec.
Dec'23
Mar'24
Jun'24
Total Current Assets
21,799
22,928
19,474
Cash, Cash Equivalents & STI
17,162
17,328
10,266
Accounts Receivable, Net
4,067
3,429
6,964
Inventories
137
78
155
Total Current Liabilities
7,914
17,576
8,521
Payables & Accruals
- -
- -
- -
ST Debt
1,541
1,612
1,775
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
5.61%
6.15%
4.13%
Free Cash Flow
-169.61%
-35.57%
130.82%
Net Income, GAAP
16.87%
18.31%
7.78%
Sales/Revenue/Turnover
8.56%
7.76%
3.25%
Total Cash Common Dividend
11.66%
15.35%
15.82%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
8,251
9,148
10,563
9,583
37,545
2024
8,783
9,880
- -
- -
40,444
2025
- -
- -
- -
- -
41,759

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
43.29
- -
- -
- -
308.37
2024
71.05
- -
- -
- -
363.66
2025
- -
- -
- -
- -
392.22

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
74.73
2024
- -
- -
- -
- -
101.53
2025
- -
- -
- -
- -
117.66
Similar Companies
Crazy Sports Group Limited (0082.HK)
Las Vegas Sands Corp. (LVS)
FDJ United (FDJ.PA)
Sportech PLC (SPO.L)
Sands China Ltd. (1928.HK)
B90 Holdings plc (B90.L)
Business
Tokyotokeiba Co., Ltd. (9672.T) operates horse racing facilities and provides related entertainment and betting services in Japan. The company manages the Tokyo Racecourse, one of Japan's premier venues for thoroughbred horse racing; offers parimutuel wagering services through on-site and off-site channels; and hosts events including races, training sessions, and public exhibitions. It also provides ancillary services such as horse boarding, veterinary care, and racing data dissemination to enthusiasts and professionals. Established in 1950 and headquartered in Fuchu, Tokyo, the company focuses on the horse racing industry, serving bettors, horse owners, trainers, and spectators primarily in the Kanto region with expansion into national off-track betting networks. Its core offerings encompass racecourse operations; tote betting systems; membership clubs for premium access; and digital platforms for live streaming and results. Tokyotokeiba targets individual wagerers, corporate sponsors, and equestrian stakeholders across Japan. In recent developments, the company announced expansions to its digital betting infrastructure in 2024 to accommodate growing online demand amid post-pandemic shifts. It formed a strategic alliance with major Japanese racing authorities for enhanced data sharing and anti-doping initiatives in early 2025. Additionally, Tokyotokeiba launched new sustainability programs at Tokyo Racecourse, including solar installations and waste reduction, aligning with national green racing standards.