FUJI MEDIA (4676) Q1 2025 earnings summary

Executive summary

• Net sales decreased by 2.0% year-over-year to ¥129.6 billion, mainly due to a decline in the Media & Content segment, while operating income rose 17.0% to ¥6.6 billion, and net income attributable to owners increased 40.2% to ¥7.2 billion, driven by improved profitability in streaming and digital businesses.

• Results were largely in line with forecasts, and there is no change to the full-year consolidated financial results outlook.

• Recurring profit increased 24.5% year-over-year to ¥9.8 billion, aided by higher dividend income and equity in earnings of affiliates.

• Basic earnings per share increased to ¥33.92 from ¥23.29 year-over-year.

• Comprehensive income dropped sharply to ¥1,071 million from ¥14,266 million year-over-year, mainly due to a large negative swing in valuation difference on available-for-sale securities.

Financial highlights

• Operating income increased by ¥953 million year-over-year, with a notable 155.6% rise in Media & Content segment operating income.

• Ordinary income rose 24.5% year-over-year to ¥9.8 billion, supported by higher dividends and equity in earnings of affiliates.

• Extraordinary gains included a ¥235 million gain on exchange of shares of subsidiaries and associates.

• Net assets decreased by ¥11.7 billion from March 31, 2024, to ¥857.9 billion as of June 30, 2024.

• Gross profit for the quarter was ¥36,717 million, up from ¥36,239 million year-over-year.

Outlook and guidance

• FY3/25 consolidated forecasts remain unchanged: net sales of ¥598.3 billion (+5.6% YoY), operating income of ¥35.3 billion (+5.3%), recurring profit of ¥40.4 billion (+3.1%), and net income attributable to owners of ¥29.0 billion (-21.8%).

• Dividend forecast for FY2025 is ¥50.00 per share.

• Media & Content segment is expected to maintain stable sales, with focus on streaming, digital, and content sales growth.

• Urban Development, Hotels & Resorts segment anticipates further growth in inbound tourism and new property completions.