Nippon Television (9404) Q2 2027 earnings summary

Executive summary

• FY2026 H1 revenue rose 5.2% YoY to ¥246.655bn, while operating profit fell 48.3% to ¥17.167bn and recurring profit fell 42.3% to ¥22.949bn.

• Net income attributable to owners rose 3.0% to ¥27.199bn; securities-sale and step-acquisition gains supported earnings, while higher valuation gains on available-for-sale securities lifted comprehensive income to ¥166.889bn.

Financial highlights

• H1 net sales were ¥246.655bn versus ¥234.481bn; cost of sales rose to ¥172.016bn from ¥147.025bn, and gross profit fell to ¥74.639bn from ¥87.456bn.

• Operating profit was ¥17.167bn versus ¥33.210bn; recurring profit was ¥22.949bn versus ¥39.801bn.

• Profit attributable to owners was ¥27.199bn versus ¥26.398bn; basic EPS was ¥111.03 versus ¥105.66.

• Broadcasting operations revenue fell 5.8% to ¥144.588bn and operating profit fell 59.7% to ¥8.735bn; net income rose 31.0% to ¥22.562bn.

Outlook and guidance

• FY2026 forecast unchanged: revenue ¥535bn, operating profit ¥49bn, recurring profit ¥59bn and net income attributable to owners ¥51.5bn; EPS forecast ¥208.18.

• FY2026 dividend forecast remains ¥45 per share: ¥10 interim and ¥35 year-end; Q2 dividend payment is scheduled for December 1, 2026.

• Revised terrestrial advertising assumptions are +0.3% YoY for time advertising and -10.3% for spot advertising.