Czech Republic took victory six months ago when the sides met in the Group Stage of the World Championship, but Sweden's attempt at revenge got off to a strong start when Viktor Lodin and Filip Roos brought their excellent club form with Farjestad to the international scene, as the two combined for the latter to break the deadlock in the eighth minute.
But the home side were back on level terms early in the second when Radim Zohorna - also of Swedish Hockey League leaders Farjestad - found the net, and before the midpoint of the match the turnaround was complete thanks to Matej Stransky's strike.
The Czechs struggled with discipline in the third period, conceding three powerplays to Tre Kronor's one, and on the third the visitors finally made the man advantage count, as yet another Farjestad man, Jack Berglund, struck to make it 2-2 with less than five minutes to play.
After a goalless overtime, Lodin and David Tomasek both scored their respective side's second penalty of the shootout, before Berglund cemented his hero status for Sweden, scoring the visitors' fifth attempt to which Stransky was unable to respond, giving the Swedes a 3-2 win after penalties.
The sides now travel to Finland for their next matches in the four-team tournament against the Finns and Switzerland over 7th and 8th November. Finland lead the standings after a 3-1 win over the Swiss.