Worth reading
68In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
15431
Millions of yen (year-on-year increase in fiscal 2025 net sales)Wording
Conditional
How definitive the wording is.Contents of this document
Supplementary materials to the earnings reportFiscal year ended March 2026 (fiscal 2025)12 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥339,487 million+4.8%
Operating profit¥26,181 million+32.9%
Ordinary income¥36,572 million+28.2%
Net income¥29,654 million+14.9%
Results for the three months of the current quarterQuarterly standalone net sales and operating income for Q1 through Q4 are provided for the television broadcasting, internet, shopping and other businesses. Quarterly standalone figures for the consolidated group as a whole are not disclosed.
Full-year earnings forecast
Fiscal 2026
Net Sales
¥350,000 million
Operating profit
¥20,000 million
Ordinary income
¥28,000 million
Profit attributable to owners of the parent
¥25,000 million
Capital Expenditure
133 Hundreds of millions of yen
Depreciation and amortization
113 Hundreds of millions of yen
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Net Sales
Television Broadcasting Business¥15,431 million
Terrestrial television advertising revenue¥12,426 million
Revenue other than terrestrial television advertising revenue¥-473 million
Internet Business¥4,247 million
Shopping Business¥-1,822 million
Other Businesses¥1,624 million
Adjustments¥-570 million
Operating profit
Television Broadcasting Business¥7,468 million
Internet Business¥1,611 million
Shopping Business¥-423 million
Other Businesses¥-2,168 million
Adjustments¥-12 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
TV Asahi terrestrial time advertising revenueDown 1.9% year on year
TV Asahi terrestrial spot advertising revenueDown 5.0% year on year
Total terrestrial advertising revenueDown 3.6% year on year
Program production costsUp 1.9% year on year, ¥81,000 million
New initiatives
- Reportable segments will be changed to the Media and Content Business, TDP and Events Business, and Other.
- Domestic and international IP expansion for Akane-banashi, joint promotions with ABEMA, and overseas events and the launch of an official YouTube channel
- Development of new anime through group collaboration
- Two short-form anime series are scheduled to air in autumn 2026
Key KPIsA metric the company considers important as a management benchmark.
- Tokyo-area advertising expenditure share26.6 %yoy_changeUp 1.9 percentage points year on year
- Fiscal 2025 catch-up streaming views27.5 %yoy_changeUp 27.5% year on year
- Digital advertising-related revenue (including TVer)¥11,795 millionyoy_changeUp 37.2% year on year
- Annual average audience-rating triple crown among individuals3 awardsyoy_changeFor the second consecutive year
- Annual average audience-rating triple crown among households3 awardsyoy_changeFor the fourth consecutive year
- Box-office revenue from the Doraemon film41 Hundreds of millions of yen
Segment results
Television Broadcasting Business
Net Sales
¥248,750 million+5.0%
Operating profit
¥18,758 million+66.2%
Internet Business
Net Sales
¥36,087 million+13.3%
Operating profit
¥5,310 million+43.6%
Shopping Business
Net Sales
¥18,400 million-9.0%
Operating profit
¥1,082 million-28.1%
Other Businesses
Net Sales
¥52,481 million+3.2%
Operating profit
¥1,074 million-66.9%
Medium-term management plan targets
Plan nameManagement Plan 2026-2029
Target fiscal yearFiscal 2029
Net Sales
¥400,000 million
Operating profit
¥33,000 million
Ordinary income
¥43,000 million
Net income for the current fiscal year
¥38,000 million
ROE7% range (8% in the early 2030s)
Financial targets
ROE7% range in fiscal 2029, 8% in the early 2030s
Market Size / Share
Tokyo-area advertising expenditure share
26.6 %
Year on year+1.9 percentage points
Capital expenditures
¥133 100 million fiscal 2026 forecast, consolidated
Annual Dividend
FY2026 forecast
¥70 per share
Payout ratio
FY2026 forecast40.2 %
PolicyApproximately 40%
Acquisition of treasury shares
29.9 Hundreds of millions of yen
| Item | Details |
|---|---|
| Document type | Supplementary materials to the earnings report |
| Fiscal Period Covered | Fiscal year ended March 2026 (fiscal 2025) |
| Net Sales | ¥339,487 million (YoY +4.8%) |
| Operating profit | ¥26,181 million (YoY +32.9%) |
| Ordinary income | ¥36,572 million (YoY +28.2%) |
| Net income | ¥29,654 million (YoY +14.9%) |
| Results for the three months of the current quarter | Quarterly standalone net sales and operating income for Q1 through Q4 are provided for the television broadcasting, internet, shopping and other businesses. Quarterly standalone figures for the consolidated group as a whole are not disclosed. |
| Full-year earnings forecast | Subject Fiscal 2026 / Net Sales ¥350,000 million / Operating profit ¥20,000 million / Ordinary income ¥28,000 million / Profit attributable to owners of the parent ¥25,000 million / Capital Expenditure 133 Hundreds of millions of yen / Depreciation and amortization 113 Hundreds of millions of yen |
| Segment results | Television Broadcasting Business Net Sales ¥248,750 million (YoY +5.0%) / Operating profit ¥18,758 million (YoY +66.2%) / Internet Business Net Sales ¥36,087 million (YoY +13.3%) / Operating profit ¥5,310 million (YoY +43.6%) / Shopping Business Net Sales ¥18,400 million (YoY -9.0%) / Operating profit ¥1,082 million (YoY -28.1%) / Other Businesses Net Sales ¥52,481 million (YoY +3.2%) / Operating profit ¥1,074 million (YoY -66.9%) |
| Breakdown of Factors Affecting the Change | Net Sales Television Broadcasting Business ¥15,431 million / Terrestrial television advertising revenue ¥12,426 million / Revenue other than terrestrial television advertising revenue ¥-473 million / Internet Business ¥4,247 million / Shopping Business ¥-1,822 million / Other Businesses ¥1,624 million / Adjustments ¥-570 million / Operating profit Television Broadcasting Business ¥7,468 million / Internet Business ¥1,611 million / Shopping Business ¥-423 million / Other Businesses ¥-2,168 million / Adjustments ¥-12 million |
| Key KPIs | Tokyo-area advertising expenditure share 26.6 %, Fiscal 2025 catch-up streaming views 27.5 %, Digital advertising-related revenue (including TVer) ¥11,795 million, Annual average audience-rating triple crown among individuals 3 awards, Annual average audience-rating triple crown among households 3 awards, Box-office revenue from the Doraemon film 41 Hundreds of millions of yen |
| Assumptions Underlying the Business Outlook | TV Asahi terrestrial time advertising revenue Down 1.9% year on year / TV Asahi terrestrial spot advertising revenue Down 5.0% year on year / Total terrestrial advertising revenue Down 3.6% year on year / Program production costs Up 1.9% year on year, ¥81,000 million |
| Medium-term management plan targets | Plan name Management Plan 2026-2029 / Target fiscal year Fiscal 2029 / Net Sales ¥400,000 million / Operating profit ¥33,000 million / Ordinary income ¥43,000 million / Net income for the current fiscal year ¥38,000 million / ROE 7% range (8% in the early 2030s) |
| Financial targets | ROE 7% range in fiscal 2029, 8% in the early 2030s / Actual value Not disclosed |
| Annual Dividend | FY2026 forecast ¥70 per share / Interim and Year-End Breakdown Not disclosed |
| Payout ratio | FY2026 forecast 40.2 % / Policy Approximately 40% |
| Acquisition of treasury shares | Amount 29.9 Hundreds of millions of yen / Period Not disclosed |
| Capital expenditures | ¥133 100 million (fiscal 2026 forecast, consolidated) |
| Market Size / Share | Tokyo-area advertising expenditure share 26.6 % |
| New initiatives | Reportable segments will be changed to the Media and Content Business, TDP and Events Business, and Other., Domestic and international IP expansion for Akane-banashi, joint promotions with ABEMA, and overseas events and the launch of an official YouTube channel, Development of new anime through group collaboration, Two short-form anime series are scheduled to air in autumn 2026 |
Items this document does not state (11)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookOrders received and order backlogKey points of the Q&A
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.In the television broadcasting business, terrestrial advertising revenue expanded against a backdrop that included a triple crown in audience ratings, with spot advertising revenue showing particularly strong growth. In the internet business, digital advertising revenue, including from TVer, and content sales to services such as TELASA grew. Meanwhile, the shopping business reported lower profit as mail-order sales fell short of expectations, while the other businesses reported lower profit due to a decline following the previous year's event business and higher production costs for a new animated film.
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