FUJI MEDIA (4676) Q3 2026 earnings summary

Executive summary

• Net sales for the nine months ended December 31, 2025, decreased 5.1% year-over-year to ¥392.4 billion, mainly due to a significant decline in the Media & Content segment, despite strong growth in Urban Development, Hotels & Resorts.

• Operating profit fell by ¥32,016 million year-over-year, resulting in an operating loss of ¥4.8 billion; net income attributable to owners of the parent increased 1.6% to ¥24.5 billion, supported by gains on sale of investment securities.

• Comprehensive income turned negative at ¥(516) million, mainly due to valuation losses on available-for-sale securities.

• Media & Content segment saw a significant decline in net sales and posted an operating loss, mainly due to the impact of an incident affecting Fuji TV's advertising revenue, though a recovery trend was noted in Q3.

• Urban Development, Hotels & Resorts segment achieved higher net sales and operating income, driven by strong leasing, sales, and robust tourism demand.

Financial highlights

• Consolidated net sales: ¥392.4 billion (down 5.1% YoY); operating loss: ¥4.8 billion; net income: ¥24.5 billion (up 1.6% YoY).

• Media & Content segment net sales: ¥248.6 billion (down 22.9% YoY); operating loss: ¥25.3 billion.

• Urban Development, Hotels & Resorts segment net sales: ¥138.3 billion (up 58.7% YoY); operating income: ¥22.7 billion (up 73.0% YoY).

• Extraordinary income: ¥50.2 billion, mainly from gains on sale of investment securities.

• Gross profit for the nine months was ¥75,050 million, down from ¥119,677 million year-over-year.

Outlook and guidance

• FY3/26 consolidated net sales forecast revised upward to ¥552.7 billion; operating loss forecast at ¥7.2 billion; net income forecast at ¥22.5 billion.

• Dividend forecast raised to ¥125 per share for FY3/26 and ¥200 per share for FY3/27 and FY3/28.

• Share buybacks to be conducted via TOSTNET-3 with an upper limit of ¥235.0 billion, targeting cumulative buybacks of over ¥250.0 billion by FY2029.

• ROE target set at 5% or more by FY2030 and 8% by FY2033, with plans to reduce shareholders' equity and expand growth investments.

• Management notes that actual results may differ materially from forecasts due to various future factors.