TBS Holdings (9401) Q2 2027 earnings summary

Executive summary

• H1 FY2027 net sales rose 2.1% YoY to ¥215.073bn, while operating profit fell 32.0% to ¥10.470bn and parent profit fell 61.1% to ¥17.666bn.

• Comprehensive income rose to ¥361.409bn, primarily reflecting a ¥342.558bn valuation gain on available-for-sale securities.

Financial highlights

• Gross profit was ¥67.696bn versus ¥72.561bn; SG&A was ¥57.226bn versus ¥57.169bn.

• Ordinary profit declined 18.3% to ¥18.687bn; extraordinary gains from investment-security sales were ¥11.189bn versus ¥48.881bn.

• EPS for the six months was ¥114.18 versus ¥286.67 in the prior-year period.

Outlook and guidance

• FY2027 forecasts remain unchanged: net sales ¥435bn, operating profit ¥23bn, ordinary profit ¥38bn and parent profit ¥48.5bn; forecast EPS is ¥316.21.

• Annual dividend forecast remains ¥100 per share, comprising ¥50 interim and ¥50 year-end, versus ¥84 for FY2026.

• TBS TV forecasts remain ¥248.7bn in net sales and ¥12bn in operating profit; spot-sales forecast was cut ¥2.7bn to ¥80bn and program costs by ¥0.5bn to ¥95bn.