FUJI MEDIA (4676) Q1 2026 earnings summary

Executive summary

• Net sales fell 10.4% year-over-year to ¥116.1 billion, mainly due to a significant drop in terrestrial TV and streaming advertising following incidents at Fuji TV.

• Operating profit fell by ¥19,333 million year-over-year, resulting in a loss of ¥12.8 billion; ordinary profit also turned negative at ¥10.7 billion.

• Net income attributable to owners dropped 85.1% year-over-year to ¥1.08 billion, despite a gain on sale of investment securities.

• Urban Development, Hotels & Resorts segment saw strong growth in both net sales and operating income, offsetting some losses in Media & Content.

Financial highlights

• Net sales: ¥116.1 billion (down 10.4% YoY); operating loss: ¥12.8 billion (vs. ¥6.6 billion profit prior year); net income: ¥1.08 billion (down 85.1% YoY).

• Gross profit for the quarter was ¥12,739 million, down from ¥36,717 million year-over-year.

• Extraordinary income surged to ¥21.9 billion, mainly from gains on sale of strategic shareholdings.

• Comprehensive income was negative ¥6,693 million, compared to ¥1,071 million in the prior year.

• Basic earnings per share fell to ¥5.19 from ¥33.92 year-over-year.

Outlook and guidance

• Full-year forecasts for net sales and operating income were revised downward due to slower-than-expected recovery in Fuji TV ad revenue; net sales forecast at ¥546.6 billion and operating profit forecast revised to a loss of ¥12 billion.

• Ordinary profit forecast revised to a loss of ¥8.5 billion.

• Net income forecast remains unchanged at ¥10 billion, assuming further asset sales.

• Dividend forecast maintained at ¥50 per share, targeting a 50% payout ratio.