FUJI MEDIA (4676) Q4 2025 earnings summary

Executive summary

• FY3/25 saw a 2.8% decrease in net sales to ¥550.8 billion and a 45.4% drop in operating income to ¥18.3 billion, with a net loss of ¥20.1 billion attributable to owners of the parent, mainly due to Fuji TV's human rights and compliance incidents in 4Q.

• Urban Development, Hotels & Resorts segments grew, with a 9.9% increase in net sales and a 25.4% rise in operating profit, supported by new openings and inbound tourism.

• Media & Content, especially Fuji TV, saw significant declines in revenue and profitability due to compliance incidents.

• Major governance and compliance reforms were initiated, including executive changes, new committees, and enhanced human rights frameworks.

Financial highlights

• Net sales: ¥550.8 billion (down 2.8% YoY); operating income: ¥18.3 billion (down 45.4% YoY); net loss attributable to owners: ¥20.1 billion.

• Ordinary profit decreased 35.7% YoY to ¥25.18 billion.

• Basic earnings per share dropped to ¥(95.74) from ¥169.27 the previous year.

• Total assets at year-end were ¥1,440.3 billion, down 0.6%; net assets fell 4.6% to ¥830.0 billion.

• Cash and cash equivalents at year-end increased 24.4% to ¥123.1 billion.

Outlook and guidance

• FY3/26 forecast: Net sales ¥561.0 billion (+1.9%), operating income ¥2.5 billion (–86.3%), net income ¥10.0 billion.

• Broadcasting revenue at Fuji TV expected to decline 20.6% YoY; Media & Content segment expected to remain weak.

• Continued focus on capital efficiency, with ROE target of 8% or higher.

• Annual dividend forecast maintained at ¥50 per share, targeting 50% payout ratio barring extraordinary factors.