TBS Holdings (9401) Q2 2026 earnings summary

Executive summary

• Consolidated net sales for 1H FY25 reached ¥210,658 million, up 6.5% year-over-year, with operating profit up 20.2% and ordinary profit up 22.7%, driven by strong Media and Content business and increased broadcasting and streaming ad revenue.

• Profit attributable to owners of parent increased 35.2% year-over-year to ¥45,403 million.

• Comprehensive income rebounded to ¥99,922 million from a loss of ¥118,757 million in the prior year period.

• Lifestyle business saw a decline in both net sales and operating profit due to the exclusion of LightUP Shopping Club Inc. from consolidation, despite growth in student numbers and strong performance at PLAZA and BCL.

• Real Estate and other businesses maintained stable net sales year-over-year, but operating profit declined due to higher expenses.

Financial highlights

• Gross profit increased to ¥72,561 million from ¥65,440 million year-over-year.

• Extraordinary income included a ¥48,881 million gain on sale of investment securities.

• Earnings per share rose to ¥286.67 from ¥207.71 year-over-year.

• Total assets grew to ¥1,396,831 million as of September 30, 2025, up from ¥1,296,125 million at March 31, 2025.

• Net assets increased to ¥1,017,659 million, with an equity-to-asset ratio of 71.9%.

Outlook and guidance

• FY25 full-year consolidated forecasts revised upward: net sales to ¥431,000 million (+6.0% YoY), operating profit to ¥24,000 million (+23.3%), ordinary profit to ¥37,000 million (+17.1%), and profit attributable to owners of parent to ¥52,500 million (+19.5%).

• Earnings per share for the year projected at ¥333.15.

• Forecast revision driven by strong broadcasting and spot advertising revenue, notably from "World Athletics Championships Tokyo 25."

• TBS TV also revised up its forecasts for sales, operating profit, and ordinary profit, with profit boosted by gain on sale of investment securities.