Fiscal Year 2025 Q3 Financial Results Materials

Overview of Performance

In the consolidated results for the third quarter of fiscal 2025, net sales were JPY 319,284 million (YoY +5.4%) and operating income was JPY 24,633 million (YoY +11.3%), achieving both increased sales and profits. Growth in broadcasting revenue and expanded distribution advertising revenue contributed to the Media & Contents Business results. Meanwhile, the Lifestyle Business recorded increased net sales but a decline in operating income due to Light Up Shopping Club exiting the consolidation scope and increased expenses. The Real Estate & Others segment posted stable net sales but decreased profits due to higher costs.

Segment Details

The Media & Contents Business saw net sales of JPY 235,212 million (YoY +6.8%) and operating income of JPY 16,463 million (YoY +29.9%), significantly increasing profits. The Lifestyle Business recorded net sales of JPY 71,391 million (YoY +2.0%) but operating income decreased to JPY 2,325 million (YoY -29.8%). Real Estate & Others posted net sales of JPY 12,679 million (YoY -0.4%) and operating income of JPY 5,844 million (YoY -4.8%).

Progress on Growth Strategies

Growth strategies advanced with the establishment of a strategic partnership through acquisition of equity equivalent to USD 150 million in Legendary Entertainment (January 16) and the planned 100% acquisition (full subsidiary) of Styling Life Holdings stock (scheduled March 27).

Outlook

There is no revision to consolidated earnings forecasts; however, net sales and operating income forecasts for the Media & Contents Business have been revised upward, while those for the Lifestyle Business have been revised downward. TBS Television’s forecasts for net sales and various profits have been revised upward, along with changes to time and spot advertising revenue projections.