TBS Holdings (9401) Q3 2026 earnings summary

Executive summary

• Consolidated net sales for the nine months ended December 31, 2025, rose 5.4% YoY to ¥319.3 billion, with operating profit up 11.3% to ¥24.6 billion and profit attributable to owners up 27.4% to ¥55.7 billion.

• Media and Content segment drove growth, supported by higher broadcasting and streaming ad revenue.

• Lifestyle segment saw robust sales but lower operating profit due to the exclusion of LightUP Shopping Club and higher expenses.

• Strategic investments included a $150 million stake in Legendary Entertainment and plans to make Styling Life Holdings a wholly owned subsidiary.

• Comprehensive income for the period reached ¥218.4 billion, a significant turnaround from a loss of ¥79.2 billion in the prior year period.

Financial highlights

• Q3 FY25 consolidated net sales: ¥319.3 billion (+5.4% YoY); operating profit: ¥24.6 billion (+11.3% YoY); ordinary profit: ¥38.5 billion (+12.8% YoY); profit attributable to owners: ¥55.7 billion (+27.4% YoY).

• Media and Content net sales: ¥235.2 billion (+6.8% YoY); operating profit: ¥16.5 billion (+29.9% YoY).

• Lifestyle net sales: ¥71.4 billion (+2.0% YoY); operating profit: ¥2.3 billion (-29.8% YoY).

• Gross profit increased to ¥109.9 billion from ¥100.8 billion YoY; EPS increased to ¥352.94 from ¥271.26.

• Extraordinary income was boosted by a ¥48.9 billion gain on sale of investment securities.

Outlook and guidance

• Full-year forecast for fiscal year ending March 31, 2026: net sales of ¥431.0 billion (+6.0% YoY), operating profit of ¥24.0 billion (+23.3%), ordinary profit of ¥37.0 billion (+17.1%), and profit attributable to owners of parent of ¥52.5 billion (+19.5%).

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

• Full-year forecasts for Media and Content segment revised upward; Lifestyle segment revised downward; no change to overall consolidated forecast.

• TBS TV’s net sales and all profit categories revised upward; time and spot ad sales forecasts also increased.

• No revisions to previously announced forecasts.