TV Asahi Holdings (9409) Q2 2025 earnings summary

Executive summary

• Net sales rose 4.8% year-over-year to ¥153.8 billion for the first half of FY25/3, with operating income up 39.5% to ¥6.0 billion and ordinary income up 22.0%.

• Profit attributable to owners of the parent increased 16.4% year-over-year to ¥7,699 million, and comprehensive income rose 11.2%.

• All business segments posted year-over-year growth in both sales and operating income.

• Earnings per share for the period were ¥75.77, up from ¥65.09 in the prior year.

Financial highlights

• TV Broadcasting net sales grew 1.0% year-over-year to ¥111.3 billion; operating income surged 78.2% to ¥2.1 billion.

• Internet business net sales increased 4.9% to ¥13.9 billion, with operating income up 58.3%.

• Shopping business net sales rose 7.9% to ¥9.8 billion, operating income up 8.2%.

• Other businesses net sales jumped 21.4% to ¥26.1 billion, operating income up 16.7%.

• Gross profit increased to ¥37,280 million from ¥35,155 million year-over-year, while SGA expenses rose slightly to ¥31,233 million.

Outlook and guidance

• FY25/3 full-year forecast revised upward: net sales expected at ¥312.0 billion, operating income ¥16.0 billion, ordinary income ¥22.0 billion, and profit attributable to owners of the parent ¥20.0 billion.

• Earnings per share for the full year projected at ¥196.80, reflecting an 11.1% increase over the previous forecast.

• TV Broadcasting, Internet, Shopping, and Other Businesses all forecast to grow in both sales and operating income.

• Triple crown in viewer ratings targeted by FY26/3; strategic investment of ¥50 billion planned.

• Upward revision driven by strong TV broadcasting business and lower-than-expected operating expenses.