TV Asahi Holdings (9409) Q2 2027 earnings summary

Executive summary

• 1H FY27/3 net sales fell 2.7% YoY to ¥161,156mn; operating profit declined 59.5% to ¥5,906mn, mainly reflecting weaker Media & Content results.

• TDP & Events and Music Publication grew, but did not offset Media & Content declines; FY27/3 sales guidance was cut while profit forecasts were maintained.

• Reporting segments were reorganized from FY27/3 under the FY27–FY30 management plan.

Financial highlights

• 1H ordinary profit fell 46.5% to ¥10,856mn; profit attributable to owners of parent fell 41.1% to ¥8,630mn, with basic EPS of ¥85.84 versus ¥145.21.

• Consolidated EBITDA declined 39.8% to ¥11,454mn; gross profit was ¥39,259mn versus ¥51,758mn.

• Comprehensive income rose to ¥33,925mn, supported by a ¥22,550mn gain in valuation differences on available-for-sale securities.

• 1H included ¥663mn of extraordinary losses: ¥577mn provision for doubtful accounts and ¥85mn provision for business loss.

Outlook and guidance

• FY27/3 net sales forecast was reduced ¥10,000mn to ¥340,000mn from ¥350,000mn; operating profit, ordinary profit and parent-attributable profit forecasts remain ¥20,000mn, ¥28,000mn and ¥25,000mn.

• FY27/3 forecast EBITDA is ¥31,100mn, down 12.1% YoY; operating profit is down 23.6%, ordinary profit down 23.4% and parent-attributable profit down 15.7%.

• Revised segment sales forecasts: Media & Content ¥292,750mn, down ¥12,950mn; TDP & Events ¥42,900mn, up ¥3,500mn; Other Businesses ¥4,350mn, down ¥550mn versus prior forecast.

• Terrestrial spot-sales growth forecast changed from down 5.0% to down 14.0%; total ad revenue forecast changed from down 3.6% to down 9.0%. FY27/3 basic EPS forecast is ¥248.64.