TV Asahi Holdings (9409) Q4 2025 earnings summary

Executive summary

• Net sales rose 5.2% year-over-year to ¥324.1 billion, with operating profit up 59.7% and profit attributable to owners up 50.6%, driven by strong TV Broadcasting, Internet, and Other Businesses segments.

• Growth was fueled by higher ad revenue from strong viewer ratings, expansion in non-ad businesses, and a gain on sale of investment securities.

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

Financial highlights

• Net sales: ¥324.1 billion (+5.2% YoY); operating profit: ¥19.7 billion (+59.7% YoY); ordinary profit: ¥28.5 billion (+43.2% YoY); profit attributable to owners: ¥25.8 billion (+50.6% YoY).

• TV broadcasting net sales: ¥236.8 billion (+3.1% YoY); internet: ¥31.8 billion (+10.7% YoY); shopping: ¥20.2 billion (+1.1% YoY); other businesses: ¥50.9 billion (+13.8% YoY).

• Spot ad sales increased 7.3% YoY, time ad sales up 1.2% YoY; digital ad-related revenue (TVer, etc.) grew 46.3% YoY to ¥8.6 billion.

• Basic earnings per share rose to ¥254.04 from ¥168.66 YoY; cash and cash equivalents at year-end decreased to ¥39,763 million from ¥52,753 million.

• Capital adequacy ratio stood at 79.6% as of March 31, 2025.

Outlook and guidance

• FY26/3 forecast: net sales ¥333.0 billion (+2.8% YoY), operating profit ¥20.0 billion (+1.5% YoY), ordinary profit ¥29.0 billion (+1.6% YoY), profit attributable to owners ¥26.0 billion (+0.7% YoY).

• TV broadcasting and internet segments expected to continue moderate growth; shopping and other businesses show mixed outlook.

• Annual dividend for FY2026 is planned at ¥60 per share, same as FY2025.