TBS Holdings (9401) Q1 2026 earnings summary

Executive summary

• Consolidated net sales increased 2.1% year-over-year to ¥100,633 million in Q1 FY25, with operating profit up 31.3% to ¥8,113 million and profit attributable to owners up 23.1% to ¥17,704 million.

• Ordinary profit rose 29.1% to ¥15,819 million, and comprehensive income surged to ¥118,294 million from a loss of ¥19,240 million in the prior year period.

• Media and Content segment drove growth, offsetting declines in Lifestyle due to the exclusion of LightUP Shopping Club from consolidation.

• Streaming ad revenue and paid subscription streaming saw significant gains, while real estate net sales rose but operating profit declined due to higher expenses.

Financial highlights

• Gross profit for Q1 FY2025 was ¥34,980 million, up from ¥32,725 million year-over-year.

• Earnings per share for the quarter were ¥110.76, compared to ¥88.95 in the prior year.

• Total assets increased to ¥1,420,481 million as of June 30, 2025, from ¥1,296,125 million at March 31, 2025.

• Net assets rose to ¥1,050,530 million, with an equity-to-asset ratio of 73.0%.

• Extraordinary income included a ¥10,379 million gain on sale of investment securities.

Outlook and guidance

• Full-year forecast for FY2026 projects net sales of ¥425,000 million (up 4.5% year-over-year), operating profit of ¥21,500 million (up 10.5%), ordinary profit of ¥34,500 million (up 9.2%), and profit attributable to owners of parent of ¥27,500 million (down 37.4%).

• Earnings per share for FY2026 are forecast at ¥173.41.

• Media and Content segment expected to lead growth, with streaming ad revenue and global content expansion as key drivers.

• No revisions to previously announced forecasts.