TV Asahi Holdings (9409) investor relations material

Executive summary

• Achieved record-high consolidated sales and profits since IPO, driven by strong TV broadcasting, robust internet business, and solid music publication performance, while shopping business declined.

• Terrestrial advertising, especially spot sales, surged due to leading viewer ratings.

• Digital advertising and content sales to streaming platforms contributed to internet business growth.

• Shopping business underperformed due to lower sales from regular and special programs.

• Other businesses saw sales growth from concerts and anime movies, but profits declined due to higher production costs.

Financial highlights

• Consolidated net sales rose 4.8% year-over-year to ¥339.5bn; operating profit up 32.9% to ¥26.2bn; all profit levels hit record highs since listing.

• Ordinary profit increased 28.2% to ¥36.6bn; profit attributable to owners of parent up 14.9% to ¥29.7bn.

• Gross profit increased to ¥103.47bn from ¥90.66bn year-over-year.

• Cash and cash equivalents at year-end were ¥44.23bn, up from ¥39.76bn; equity-to-asset ratio improved to 80.1%.

• Basic earnings per share rose to ¥294.33 from ¥254.04.

Outlook and guidance

• FY27/3 forecast: net sales ¥350bn (+3.1%), operating profit ¥20bn (-23.6%), ordinary profit ¥28bn (-23.4%), profit attributable to owners of parent ¥25bn (-15.7%).

• Dividend policy revised: annual minimum dividend per share set at ¥60, targeting a 40% payout ratio; planned annual dividend for FY2027 is ¥100 per share.

• Targeting net sales of ¥400bn and ROE in the 7% range by FY30/3, with 8% ROE in early 2030s.