TBS Holdings (9401) investor relations material

Executive summary

• Consolidated net sales reached ¥424.85 billion (+4.5% YoY) and operating profit was ¥24.75 billion (+27.1% YoY) for FY25, with profit attributable to owners at ¥52.23 billion (+18.9% YoY).

• Comprehensive income rebounded to ¥234.95 billion from a loss of ¥186.32 billion the previous year.

• Growth was driven by strong broadcasting, streaming ad revenue, and robust Media and Content and Lifestyle segments.

• The company achieved its Medium-Term Business Plan operating profit target a year ahead and updated FY26 forecasts upward.

Financial highlights

• FY25 net sales: ¥424.85 billion (+¥18.15 billion YoY); operating profit: ¥24.75 billion (+¥5.28 billion YoY); ordinary profit: ¥37.37 billion (+¥5.77 billion YoY); profit attributable to owners: ¥52.23 billion (+¥8.31 billion YoY).

• Earnings per share rose to ¥331.42 from ¥273.04 YoY.

• Net assets increased to ¥1,135.39 billion, equity-to-asset ratio at 69.3%.

• Cash and cash equivalents at year-end were ¥123.90 billion, up from ¥74.58 billion.

• Extraordinary income included a ¥48.88 billion gain on sale of investment securities.

Outlook and guidance

• FY26 consolidated net sales forecast: ¥440 billion (+¥15.15 billion YoY); operating profit: ¥26 billion (+¥1.25 billion YoY); ordinary profit: ¥39 billion (+4.4% YoY); profit attributable to owners: ¥48.5 billion (–7.1% YoY).

• FY26 Media and Content segment net sales forecast: ¥318 billion; Lifestyle: ¥105 billion; Real Estate and Others: ¥17 billion.

• FY26 annual dividend forecast: ¥100 per share (up from ¥84 in FY25), payout ratio 32.4%.