Tokyotokeiba unveils new medium-term plan, raises dividend

Tokyotokeiba Co., Ltd. has unveiled its "Future-Oriented Space Creation Project: the 1st Furlong – Medium-Term Management Plan 2030," spanning fiscal years 2026-2030. The plan aims for an average annual operating profit growth of approximately 5%, focusing on developing Oi Horse Racing, establishing an urban entertainment racecourse, and leveraging assets in the Oi area. Key financial targets for FY2030 include net sales of 48 billion yen and operating profit of 19 billion yen, with a five-year average ROE of 10.0% or higher.

The company plans to invest approximately 75 billion yen over the plan period, generated from an expected 90 billion yen in operating cash flow. This investment will target redevelopment within Oi Racecourse (fan area), advancement of SPAT4, development of a new training center, and an arena, with about 40 billion yen allocated to racecourse redevelopment and 15 billion yen to digital initiatives. These efforts are designed to enhance the horse racing experience and create new attractions in the Katsushima area.

In conjunction with the new management plan, Tokyotokeiba has revised its dividend policy, effective from fiscal year 2026. The new policy sets the consolidated payout ratio at 35% as a standard and an annual dividend of 137 yen per share as a guide, an increase from the previous standard of 30% payout ratio and a lower limit of 90 yen per share. This change underscores the company's commitment to maximizing shareholder value through sustainable growth.