FUJI MEDIA (4676) Q4 2026 earnings summary

Executive summary

• FY3/26 consolidated net sales were ¥551.9 billion, up 0.2% year-over-year, but an operating loss of ¥8.8 billion was recorded, mainly due to Media & Content segment losses, while net income attributable to owners returned to ¥6.5 billion.

• Comprehensive income remained negative at ¥(11,699) million, though improved from ¥(13,845) million.

• The Urban Development, Hotels & Resorts segment delivered robust growth, offsetting Media & Content weakness, which was impacted by incident-related factors at Fuji TV and valuation losses at Pony Canyon.

• Major reforms included capital optimization, governance enhancements, and a focus on human capital and sustainability, setting the stage for Group Vision 2026-2030.

Financial highlights

• Net sales: ¥551.9 billion (+0.2% YoY); Operating loss: ¥8.8 billion (vs. profit of ¥18.3 billion prior year); Net income: ¥6.5 billion (vs. loss of ¥20.1 billion prior year).

• Gross profit declined to ¥105,039 million from ¥139,175 million year-over-year.

• Extraordinary income surged to ¥50.4 billion, mainly from gains on sale of strategic shareholdings and investment securities; extraordinary losses fell sharply due to lower impairment charges.

• Interest-bearing debt increased to ¥618.5 billion, while shareholders’ equity dropped to ¥424.3 billion, reflecting large-scale share repurchases.

• Cash and cash equivalents at year-end increased to ¥128,936 million.

Outlook and guidance

• FY3/27 forecast: Net sales to rise 13.4% to ¥625.7 billion; operating income to rebound to ¥40.1 billion; net income to reach ¥26.1 billion; basic earnings per share forecast is ¥191.39.

• Media & Content segment expected to return to profitability, with Fuji TV’s terrestrial TV advertising revenue forecast to jump 54.7%.

• Annual dividend forecast raised to ¥200 per share for FY3/27 and FY3/28.