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Nippon Television Holdings (9404) · RiskMitigatedLatest Earnings (2026-07-31): "Restated"

Dependence on Television Advertising Revenue and Declining Value of Television as an Advertising Medium

First written in FY2016. 14 of 35 entries say "Restated". Latest entry: 2026-07-31.

35entries
11years
1from disclosures
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How it moved
ProgressHeldSoftenedWorseRestatedFY2018-Q2 – FY2019-Q3RestatedFY2023-Q2 – FY2024MitigatedFY2025-H1 – FY20262016: 320162017: 420172018: 320182019: 320192020: 420202021: 420212022: 420222023: 320232024: 320242025: 220252026: 22026
Same theme, other companies

The whole theme swung hardest in 2017: 3 of 6 companies on the "Worse" side.

1 other company's latest entry also says "Restated".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Full recordFilings, disclosures and news, newest first
  1. 2026-07-31RestatedEarnings

    「The terrestrial television advertising market remains challenging.」

    The disclosure continues to describe the difficult conditions in the terrestrial television advertising market.
  2. FY2026MitigatedAnnual report

    「Terrestrial television advertising revenue accounted for 47.8% of total sales in the consolidated fiscal year.」

    The share of terrestrial television advertising revenue in sales fell from 48.1% in the previous fiscal year to 47.8%, further reducing dependence on advertising revenue.
  3. FY2026-H1MitigatedAnnual report

    「In the terrestrial television advertising market, signs of recovery have begun to emerge in spot advertising for some industries at Tokyo key stations.」

    Although risks remain across the terrestrial television advertising market as a whole, signs of recovery have begun to emerge in some industries.
  4. FY2025MitigatedAnnual report

    「Terrestrial television advertising revenue accounted for 48.1% of total sales in the consolidated fiscal year.」

    The share of terrestrial television advertising revenue in sales fell from 51.7% in the previous fiscal year to 48.1%, dropping below 50%. Advertising dependence itself continues to be identified as a risk.
  5. FY2025-H1MitigatedAnnual report

    「Against this economic backdrop, although overall conditions in the terrestrial television advertising market remained difficult, signs of recovery began to emerge in some industries.」

    Although overall conditions in the terrestrial television advertising market remained difficult, signs of recovery began to emerge in some industries.
  6. FY2024Lower advertising dependence and contraction of the advertising market occurring simultaneouslyAnnual report

    「The Media and Content Business, the Group's principal business, depends on terrestrial television advertising revenue generated by the sale of terrestrial television advertising slots. Terrestrial television advertising revenue accounted for 51.7% of total sales in the consolidated fiscal year.」

    The share of terrestrial television advertising revenue in sales fell from the figure reported for the previous fiscal year, while terrestrial television advertising spend remained below the previous year at 96.0%.
  7. FY2024-Q3RestatedAnnual report

    「Against this economic backdrop, difficult conditions have continued in the terrestrial television advertising market, with spot advertising spend by Tokyo key stations falling below the same quarter of the previous year.」

    Difficult conditions have continued in the terrestrial television advertising market, with spot advertising spend below the previous year.
  8. FY2024-Q2RestatedAnnual report

    「Against this economic backdrop, difficult conditions have continued in the terrestrial television advertising market, with spot advertising spend by Tokyo key stations falling below the same quarter of the previous year.」

    The continuation of difficult conditions in the terrestrial television advertising market, with spot advertising spend below the previous year, is reiterated.
  9. FY2024-Q1RestatedAnnual report

    「Against this economic backdrop, the terrestrial television advertising market entered a difficult period, with spot advertising spend by Tokyo key stations falling below the same quarter of the previous year.」

    The difficult conditions in the terrestrial television advertising market, with spot advertising spend below the previous year, are reiterated.
  10. FY2023-Q3RestatedAnnual report

    「Against this economic backdrop, spot advertising spend by Tokyo key stations fell below the same quarter of the previous year.」

    Regional spot advertising spend has continued to fall below the same period of the previous year. There have been no material changes to business and other risks.
  11. FY2023-Q2RestatedAnnual report

    「Against this economic backdrop, spot advertising spend by Tokyo key stations fell below the same quarter of the previous year.」

    Regional spot advertising spend has continued to fall below the same period of the previous year, but there have been no material changes to the risk information.
  12. FY2023-Q1WorsenedAnnual report

    「Against this economic backdrop, spot advertising spend by Tokyo key stations fell below the same quarter of the previous year.」

    The regional spot advertising spend that had been described as showing signs of recovery in the previous fiscal year fell below the previous year in April–June 2022.
  13. FY2022Higher advertising dependence and market recovery occurring simultaneouslyAnnual report

    「Terrestrial television advertising revenue accounted for 60.5% of total sales in the consolidated fiscal year.」

    The share of terrestrial television advertising revenue in sales rose from 58% in the previous fiscal year to 60.5%, while terrestrial television advertising spend recovered in 2021 to 111.7% of the previous year.
  14. FY2022-Q3MitigatedAnnual report

    「Against this economic backdrop, the terrestrial television advertising market is showing signs of recovery, with spot advertising spend by Tokyo key stations substantially exceeding the same quarter of the previous year.」

    States that spot advertising spend in the region substantially exceeded the prior-year level and that terrestrial television advertising market conditions are recovering.
  15. FY2022-Q2MitigatedAnnual report

    「Against this economic backdrop, the terrestrial television advertising market is showing signs of recovery, with spot advertising spend by Tokyo key stations substantially exceeding the same quarter of the previous year.」

    States that spot advertising spend in the region substantially exceeded the prior-year level and that terrestrial television advertising market conditions are recovering.
  16. FY2022-Q1MitigatedAnnual report

    「Amid these economic conditions, terrestrial television advertising market conditions are recovering, with spot advertising spend by key television networks based in Tokyo substantially exceeding the amount in the same quarter of the prior year.」

    States that spot advertising spend in the region substantially exceeded the prior-year level and that terrestrial television advertising market conditions are recovering.
  17. FY2021WorsenedAnnual report

    「Overall advertising expenditure in 2020 fell sharply due to the impact of COVID-19, down 11.2% year on year, while terrestrial television advertising expenditure also declined sharply, down 11.3% year on year.」

    Terrestrial television advertising expenditure fell 11.3% year on year, and the risks associated with dependence on television advertising revenue and weakness in the advertising market have intensified with actual results.
  18. FY2021-Q3Recent signs of recovery in advertising market conditions alongside continued weaknessAnnual report

    「Terrestrial television advertising market conditions remain substantially below the amount in the same quarter of the prior year, although spot advertising spend by key television networks based in Tokyo has recently shown signs of recovery.」

    States that spot advertising spend in the region has recently shown signs of recovery, while continuing to remain substantially below the prior-year level.
  19. FY2021-Q2WorsenedAnnual report

    「Terrestrial television advertising market conditions remain difficult, with spot advertising spend by key television networks based in Tokyo continuing to fall substantially below the amount in the same quarter of the prior year, leaving little room for optimism.」

    Spot advertising spend in the region continues to fall substantially below the prior-year level, and deterioration in advertising market conditions continues.
  20. FY2021-Q1WorsenedAnnual report

    「Amid these economic conditions, terrestrial television advertising market conditions have deteriorated rapidly, with spot advertising spend by key television networks based in Tokyo falling substantially below the amount in the same quarter of the prior year, leaving little room for optimism.」

    States that spot advertising spend in the region fell substantially below the prior-year level and that terrestrial television advertising market conditions deteriorated rapidly.
  21. FY2020Lower dependence on advertising revenue alongside market contraction and the impact of infectious diseaseAnnual report

    「The Group's media and content business, its principal business, depends on terrestrial television advertising revenue generated by the sale of terrestrial television advertising slots. Terrestrial television advertising revenue accounted for 58% of total revenue in the consolidated fiscal year.」

    Dependence on advertising revenue declined from 63.5% in the prior year to 58%, while the Company explicitly stated that the terrestrial advertising market is shrinking and that advertising revenue is expected to decline due to COVID-19.
  22. FY2020-Q3WorsenedAnnual report

    「Terrestrial television advertising market conditions remain weak, with spot advertising spend by key television networks based in Tokyo falling below the amount in the same quarter of the prior year. Time advertising revenue from terrestrial television advertising declined by ¥416 million (down 0.4%) year on year to ¥93,180 million, despite revenue from the 2019 Rugby World Cup in Japan, due in part to the反動減 from revenue generated by the 2018 FIFA World Cup Russia in the prior period. Spot advertising revenue declined by ¥7,841 million (down 8.1%) year on year to ¥88,626 million because spot advertising spend in the region fell below the amount in the same quarter of the prior year.」

    Lower spot advertising spend in the region and continued market weakness caused both time and spot advertising revenue to decline year on year.
  23. FY2020-Q2RestatedAnnual report

    「Amid these economic conditions, terrestrial television advertising market conditions remain weak, with spot advertising spend by key television networks based in Tokyo falling below the amount in the same quarter of the prior year.」

    Reiterates that spot advertising spend in the region fell below the prior-year level and that weak market conditions continue.
  24. FY2020-Q1WorsenedAnnual report

    「Terrestrial television advertising market conditions remain weak, with spot advertising spend by key television networks based in Tokyo falling below the amount in the same quarter of the prior year. Terrestrial television advertising revenue declined in both time and spot advertising revenue, affected by the反動減 from large one-off program revenue and weak market conditions, falling by ¥1,159 million (down 1.1%) year on year to ¥101,909 million.」

    Spot advertising market conditions remained weak, and both time and spot advertising revenue declined in the quarter.
  25. FY2019-Q3RestatedAnnual report

    「Television advertising market conditions remain uncertain going forward, with spot advertising spend by key television networks based in Tokyo falling below the amount in the same quarter of the prior year.」

    Spot advertising spend in the region fell below the amount in the same quarter of the prior year, and uncertainty in television advertising market conditions continues.
  26. FY2019-Q2RestatedAnnual report

    「Amid these economic conditions, television advertising market conditions remain uncertain going forward, with spot advertising spend by key television networks based in Tokyo falling below the amount in the same quarter of the prior year.」

    Spot advertising spend in the region fell below the amount in the same quarter of the prior year, and uncertainty in television advertising market conditions continues. The Company states that there were no material changes in business or other risks.
  27. FY2018Concurrent decline in advertising dependence and weakness in the spot advertising marketAnnual report

    「Television advertising revenue accounted for 63.5% of total revenue in the consolidated fiscal year. In the consolidated fiscal year, spot advertising market weakness caused spot advertising spend in the region to fall below the prior-year level. Since terrestrial spot advertising revenue accounts for approximately 30% of the Group's operating revenue, continued weakness in these market conditions could have a material impact on the Group's operating results.」

    The ratio of television advertising revenue fell from 64.7% in the prior year to 63.5%, while the disclosure records weakness in the spot advertising market and spot advertising spend in the region falling below the prior-year level.
  28. FY2018-Q3RestatedAnnual report

    「Television advertising market conditions have become uncertain going forward, with spot advertising spend by key television networks based in Tokyo falling below the amount in the same quarter of the prior year.」

    States that spot advertising spend in the region fell below the amount in the same quarter of the prior year, while indicating that there were no material changes in business or other risks.
  29. FY2018-Q2RestatedAnnual report

    「Amid these economic conditions, television advertising market conditions have become uncertain going forward, with spot advertising spend by key television networks based in Tokyo falling below the amount in the same quarter of the prior year.」

    States that spot advertising spend in the region fell below the amount in the same quarter of the prior year, while indicating that there were no material changes in business or other risks.
  30. FY2018-Q1WorsenedAnnual report

    「Amid these economic conditions, television advertising market conditions have become uncertain going forward, with spot advertising spend by key television networks based in Tokyo falling below the amount in the same quarter of the prior year.」

    States that spot advertising spend in the region declined year on year and that uncertainty in television advertising market conditions increased.
  31. FY2017WorsenedAnnual report

    「The Group's media and content business, its principal business, depends on television advertising revenue generated by the sale of television advertising slots. Television advertising revenue accounted for 64.7% of total revenue in the consolidated fiscal year.」

    States that dependence on television advertising revenue was 64.7%, up from 63.3% in the prior year.
  32. FY2017-Q3RestatedAnnual report

    「During the first nine months of the fiscal year, there were no new business risks and no material changes to the business risks described in the previous fiscal year's securities report.」

    The Company explicitly states that no new risks arose and that no material changes occurred in existing risks.
  33. FY2017-Q2RestatedAnnual report

    「During the six-month period ended the second quarter of the current consolidated fiscal year, there were no new business risks or material changes to the business risks described in the previous fiscal year's Annual Securities Report.」

    States that there were no new risks or material changes to existing risks during the quarter.
  34. FY2017-Q1RestatedAnnual report

    「Amid these economic conditions, television advertising market conditions have become uncertain going forward, despite spot advertising spend by key television networks based in Tokyo exceeding the amount in the same quarter of the prior year.」

    Reiterates the uncertain outlook for television advertising market conditions. It also states that there were no material changes in business or other risks.
  35. FY2016First statedAnnual report

    「Television advertising revenue accounted for 63.3% of total revenue in the consolidated fiscal year. Advertising market conditions generally tend to move in line with macroeconomic trends. In addition, the spread of smartphones, tablets, and other devices is driving the diversification of advertising media.」

    Identifies as a risk the structure in which television advertising revenue accounts for 63.3% of revenue, as well as the potential impact of advertising market conditions and media diversification.
Moved together

"Competition and Investment Recovery Risks in the Sports Club Business" moved the same way as this thread, in the same document, in 7 of its 35 moves.

766443★123456
  1. ★This thread
  2. 1Competition and Investment Recovery Risks in the Sports Club Business7×
  3. 2Maintaining the Five-Crown Ratings Lead on Terrestrial TV and the Top Advertising Share6×
  4. 3Diversification of the Business Portfolio and Expansion of Non-Advertising Revenue6×
  5. 4Accelerating Growth in the Internet Video Streaming Business4×
  6. 5Active Promotion of IP Development and Intellectual Property Businesses4×
  7. 6Enhancing Media Value through Individual Audience Ratings, CPP, SAS and DMP3×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
No upcoming earnings preview for Nippon Television Holdings yet. It last moved in the Earnings of 2026-07-31: "Restated".
News
No news is linked to this thread yet. When an article touches it, it will appear here by date.
Dependence on Television Advertising Revenue and Declining Value of Television as an Advertising Medium | Nippon Television Holdings,Inc. (9404) | Komori