Komori
Earnings presentation9412SKY Perfect JSAT CorporationInformation and Communications, Services and Others

Presentation Materials for the Second-Quarter Financial Results Briefing for the Fiscal Year Ending March 2027

In the first half of the fiscal year ending March 2027, higher revenue and profit in both the Space and Media businesses drove operating profit and consolidated net profit to record highs. The company raised its full-year operating revenue and profit forecasts, as well as its annual dividend forecast.

Worth reading
80Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Improvement
Direction inferred from the company’s description.
Scale
20
¥100 million
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentationSecond quarter of the fiscal year ending March 202713 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥669 100 million+9.9%
Operating profit¥216 100 million+25.8%
Net income¥160 100 million+36.2%
Results for the three months of the current quarter
Space business
Operating revenue
¥178 100 million+21.0%
Operating Expenses
¥112 100 million+14.0%
Operating profit
¥66 100 million
Segment profit
¥49 100 million
Media Business
Operating revenue
¥171 100 million+1.0%
Operating Expenses
¥128 100 million-7.0%
Operating profit
¥43 100 million
Segment profit
¥31 100 million
Full-year earnings forecast
Operating revenue
¥1,360 100 million
Operating profit
¥415 100 million
Consolidated net income
¥290 100 million
Space business operating revenue
¥725 100 million
Media business operating revenue
¥690 100 million
Space business operating profit
¥260 100 million
Media business operating profit
¥165 100 million
Consolidated net income from the space business
¥175 100 million
Consolidated net income from the media business
¥115 100 million
Progress against full-year forecast　通期の予想に対して、いまどこまで進んだかの割合です。
Operating revenue
Initial forecast49.6 %
Operating profit
Initial forecast55.5 %
Consolidated net income
Initial forecast59.4 %
EBITDA
Initial forecast54 %
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Progressing as planned
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Space business
Operating revenue
Space intelligence business43
Global mobile sector7
Foreign Exchange Effects8
Domestic satellite communications sector-3
Operating Expenses
Increase in cost of sales accompanying revenue growth28
Depreciation and amortization1
Media Business
Operating revenue
Subscription fees, service fees and basic fees-12
Optical retransmission service-related revenue20
Media Solutions Business1
Operating Expenses
Non-Recurring Expenses-11
End of Bundesliga broadcasting and streaming-5
CTV business-related expenses-4
Other-2
Customer support and administrative expenses-4
Depreciation and amortization-1
CTV business impairment rebound5
New initiatives
  • Sequentially launch the optical satellite constellation Pelican beginning in the first half of 2027
  • Begin phased operations of the TriSat constellation
  • Launch the AQUANA service
  • Launch the au HIKARI Plus service
  • Expand program production support services in the Media Solutions business
Key KPIsA metric the company considers important as a management benchmark.
  • New subscriptions22.6 ten thousand items
  • Net additions-7.8 ten thousand items
  • Cumulative subscriptions237.7 ten thousand items
  • Cumulative subscribers181.5 ten thousand items
  • Households connected to the optical retransmission service301.6 ten thousand items
  • SKY PerfecTV! churn rate5.9 %
  • Fiber-optic retransmission service churn rate1.4 %
  • Total customer acquisition costs (SAC)¥1,027 million
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Subscriber average payment per contract
Revenue recognition: 30% of viewing fees¥3,500
Revenue recognition: 50% of viewing fees¥3,536
Revenue recognition: 50% of viewing fees, less program supply fees¥4,909
Segment results
Space business
Operating revenue
¥353 100 million+17.0%
Operating Expenses
¥222 100 million+17.0%
Operating profit
¥131 100 million+17.0%
Segment profit
¥95 100 million+18.8%
Media Business
Operating revenue
¥344 100 million+1.6%
Operating Expenses
¥254 100 million-7.4%
Operating profit
¥90 100 million+40.0%
Segment profit
¥64 100 million+58.9%
Medium-term management plan targets
Target fiscal yearFY2030
Operating revenue
¥1,850 100 million
Consolidated net income
¥350 100 million
EBITDA
¥850 100 million
Market Size / Share
Ministry of Defense FY2027 budget request
Defense information and communications infrastructure¥478 100 million
Unmanned aircraft for target information collection¥113 100 million
Data acquisition for image analysis¥327 100 million
Space domain awareness¥133 100 million
Orders received and order backlog
First-half ordersMore than ¥10 billion
Total space business backlog
¥1,979 100 million
Capital expenditures
¥640 100 million
Annual Dividend
Annual
¥52 per share
Interim
¥24 per share
End of period
¥28 per share
Payout ratio
50 % or higher
Acquisition of treasury shares
Fiscal 2022¥5 billion
FY2025None
FY2026 planShareholder returns, including dividends and share repurchases: ¥13.3 billion
Contents of this document
ItemDetails
Document typeEarnings presentation
Fiscal Period CoveredSecond quarter of the fiscal year ending March 2027
Net Sales¥669 100 million (YoY +9.9%)
Operating profit¥216 100 million (YoY +25.8%)
Net income¥160 100 million (YoY +36.2%)
Results for the three months of the current quarterSpace business Operating revenue ¥178 100 million (YoY +21.0%) / Operating Expenses ¥112 100 million (YoY +14.0%) / Operating profit ¥66 100 million / Segment profit ¥49 100 million / Media Business Operating revenue ¥171 100 million (YoY +1.0%) / Operating Expenses ¥128 100 million (YoY -7.0%) / Operating profit ¥43 100 million / Segment profit ¥31 100 million
Full-year earnings forecastOperating revenue ¥1,360 100 million / Operating profit ¥415 100 million / Consolidated net income ¥290 100 million / Space business operating revenue ¥725 100 million / Media business operating revenue ¥690 100 million / Space business operating profit ¥260 100 million / Media business operating profit ¥165 100 million / Consolidated net income from the space business ¥175 100 million / Consolidated net income from the media business ¥115 100 million
Progress against full-year forecastOperating revenue 49.6 % / Operating profit 55.5 % / Consolidated net income 59.4 % / EBITDA 54 %
Self-assessment against the planProgressing as planned
Segment resultsSpace business Operating revenue ¥353 100 million (YoY +17.0%) / Operating Expenses ¥222 100 million (YoY +17.0%) / Operating profit ¥131 100 million (YoY +17.0%) / Segment profit ¥95 100 million (YoY +18.8%) / Media Business Operating revenue ¥344 100 million (YoY +1.6%) / Operating Expenses ¥254 100 million (YoY -7.4%) / Operating profit ¥90 100 million (YoY +40.0%) / Segment profit ¥64 100 million (YoY +58.9%)
Breakdown of Factors Affecting the ChangeSpace business Operating revenue Space intelligence business 43 / Global mobile sector 7 / Foreign Exchange Effects 8 / Domestic satellite communications sector -3 / Operating Expenses Increase in cost of sales accompanying revenue growth 28 / Depreciation and amortization 1 / Media Business Operating revenue Subscription fees, service fees and basic fees -12 / Optical retransmission service-related revenue 20 / Media Solutions Business 1 / Operating Expenses Non-Recurring Expenses -11 / End of Bundesliga broadcasting and streaming -5 / CTV business-related expenses -4 / Other -2 / Customer support and administrative expenses -4 / Depreciation and amortization -1 / CTV business impairment rebound 5
Key KPIsNew subscriptions 22.6 ten thousand items, Net additions -7.8 ten thousand items, Cumulative subscriptions 237.7 ten thousand items, Cumulative subscribers 181.5 ten thousand items, Households connected to the optical retransmission service 301.6 ten thousand items, SKY PerfecTV! churn rate 5.9 %, Fiber-optic retransmission service churn rate 1.4 %, Total customer acquisition costs (SAC) ¥1,027 million
Unit price and quantity metricsSubscriber average payment per contract Revenue recognition: 30% of viewing fees ¥3,500 / Revenue recognition: 50% of viewing fees ¥3,536 / Revenue recognition: 50% of viewing fees, less program supply fees ¥4,909
Medium-term management plan targetsTarget fiscal year FY2030 / Operating revenue ¥1,850 100 million / Consolidated net income ¥350 100 million / EBITDA ¥850 100 million
Annual DividendAnnual ¥52 per share / Interim ¥24 per share / End of period ¥28 per share
Payout ratio50 % or higher
Acquisition of treasury sharesFiscal 2022 ¥5 billion / FY2025 None / FY2026 plan Shareholder returns, including dividends and share repurchases: ¥13.3 billion
Capital expenditures¥640 100 million
Orders received and order backlogFirst-half orders More than ¥10 billion / Total space business backlog ¥1,979 100 million
Market Size / ShareMinistry of Defense FY2027 budget request Defense information and communications infrastructure ¥478 100 million / Unmanned aircraft for target information collection ¥113 100 million / Data acquisition for image analysis ¥327 100 million / Space domain awareness ¥133 100 million
New initiativesSequentially launch the optical satellite constellation Pelican beginning in the first half of 2027, Begin phased operations of the TriSat constellation, Launch the AQUANA service, Launch the au HIKARI Plus service, Expand program production support services in the Media Solutions business
Items this document does not state (10)
Ordinary incomeGross Profit MarginOperating profit marginSelling, general and administrative expensesNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookFinancial targetsKey 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.

Because operating profit margins are expected to improve through further revenue growth in the Media business's optical alliance and media solutions, as well as greater operational efficiency in the Space business.

How to read this page

This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
Presentation Materials for the Second-Quarter Financial Results Briefing for the Fiscal Year Ending March 2027 | SKY Perfect JSAT Corporation (9412) timely disclosure | Komori