Sky Perfect Jsat Corporation · TSE:9412
Sky Perfect Jsat — Q2 FY2026 Earnings Presentation
34 slides from Sky Perfect Jsat's earnings presentation, Nov 4, 2026
Slide 1: Fiscal Q2 2026 Presentation Material
Securities Code: 9412 SKY Perfect JSAT Corporation Fiscal Q2 2026 Presentation Material For the 6-month period ended September 30, 2026 November 5, 2026 SKY Perfect JSAT Corporation. All Rights Reserved.
Slide 2: Disclaimer
Disclaimer The forecasts, strategies, management policies, targets and other statements contained in this presentation that are not historical facts are forward-looking statements. These statements are based on information currently available to the Company and certain assumptions that the Company c
Slide 3: Financial Highlight
Financial Highlight Space and Media Businesses: YoY Revenue and Profit Growth Record-High Consolidated Net Income of ¥16B Financial Forecast Revised Upward: Revenue & Operating Income Net Income: ¥29B (+¥2B from Previous Forecast) Annual Dividend Raised to ¥52 per Share (+¥4 from Previous Forecast)
Slide 4: Consolidated Financial Results Fiscal Q2 FY2026
Consolidated Financial Results Fiscal Q2 FY2026
Slide 5: Consolidated Earning Results
Consolidated Earning Results Steady Performance in 1H, with YoY increases in both revenue and profit Record-High Operating Income of ¥21.6B and Net Income of ¥16.0B FY2025 Q2 FY2026 Q2 FY2026 Cumulative Change Progress (%) (in Billions of ¥) Cumulative Forecast Rate (%) Total Total (Announced on
Slide 6: Earnings Overview: Space Business
Earnings Overview: Space Business Revenue and Income Growth Driven by the Expansion of the Space Intelligence Business, Including the MOD “Satellite Constellation Project” FY2025 Q2 Cumulative FY2026 Q2 Change (in Billions of ¥) Total Cumulative Major factors of change [YoY] Rate (%) (Post- Total
Slide 7: Earnings Overview: Media Business
Earnings Overview: Media Business Revenue Increased due to Price Revisions for the Optical Re-transmission Service and Increased Orders in the Media Solution Business Segment Profit for the First Half Reached ¥6.4B, up 58.9% YoY FY2025 Q2 Cumulative FY2026 Q2 Change (in Billions of ¥) Total Cumu
Slide 8: Revision to Full-Year Consolidated Earnings and Dividend Forecasts for FY2026
Revision to Full-Year Consolidated Earnings and Dividend Forecasts for FY2026 Further Revenue Growth in the Fiber-optic Alliance and Media Solution Businesses and Improved Operating Margin through Operational Efficiency in the Space Business FY2026 FY2026 (in Billions of ¥) Previous Forecast Revis
Slide 9: Consolidated Cash Flows and Consolidated Financial Position
Consolidated Cash Flows and Consolidated Financial Position 1H Operating Cash Flow Increased for the Third Consecutive Year ¥17.0Bin New Borrowings to Fund Growth Investments Updated FY2026 CF and Financial Position Outlook Reflecting Earnings Revision and Financing Consolidated Cash Flows Con
Slide 10: Upward Revision to the Dividend Forecast for FY2026
Upward Revision to the Dividend Forecast for FY2026 Annual dividend forecast raised to ¥52 per share (interim dividend: ¥24; year-end dividend: ¥28, an increase of ¥4) FY2026 FY2026 (¥) Previous Forecast Revised Forecast Change (Announced Apr. 28, 2026) (Announced Nov. 4, 2026) Annual Dividend 48
Slide 11: Space Business
Space Business 11
Slide 12: Expansion of Demand and Business Opportunities in the National Security Field
Expansion of Demand and Business Opportunities in the National Security Field Enhancement of Revenue Base MOD FY2027 budget requests have increased in all three fields in which we Innovation in Strategic Businesses operate Challenge into New Business Fields Connectivity Business Space Intelligence
Slide 13: Progress Toward Expanding Satellite Data Provision in the National Security Field
Progress Toward Expanding Satellite Data Provision in the National Security Field Innovation in Strategic Businesses Expanding our proprietary assets and developing a satellite data provision framework Strengthening our business foundation in the national security field Optical Satellite Constel
Slide 14: Domestic Satellite Communications Contracts Received in 1H
Domestic Satellite Communications Contracts Received in 1H Enhancement of Renewed long-term contracts (10 years each) with key customers, generating, securing Revenue Base orders totaling over ¥10B Further strengthened our stable revenue base * Space Business backlog: ¥197.9B *1 (as of March 31,
Slide 15: Media Business
Media Business 15
Slide 16: Progress in Media Business
Progress in Media Business Fiber-Optic Alliance Business and Media Solution Business Continued to Expand Steadily, with FY2026 Full-year Revenue Projected at ¥69B (¥1B above the previous forecast) Expanding Sales Channels and Customer Base to Strengthen the Revenue Base Toward 2030 1 Fiber-opti
Slide 17: References
References The documents below are available at the link (underlined). • SKY Perfect JSAT Guide : Management strategy, business overview. • Summary of Operating and Financial Results • Financial Highlights (XLS downloads) • Integrated Report 2026 • IR event materials
Slide 18: Dialogue with Capital Markets (From August to October 2026)
Dialogue with Capital Markets (From August to October 2026) TSE–Nikkei IR Fair (August) Analysts, Investors and Main Topics and Areas of Interest Shareholders 1-on-1 meetings: 86 • The Company’s assessment of the share price ESG meetings: 2 Decline • Background to HYLAS 3 procurement and Overseas ro
Slide 19: Publication of Integrated Report 2026
Publication of Integrated Report 2026 (October 30, 2026) Presents a cohesive narrative linking the value we aim to deliver in the future with our business strategies and current position, developed through a back casting approach. Explores growth opportunities and risks through an expert dialogu
Slide 20: Vision for FY2030
[Updated] Changes due to the revision of the Vision for FY2030 FY2026 Forecast: shown in red (in Billions of ¥) (Post-reclassification*1) FY2026 Forecast FY2024 FY2025 *1. Post-reclassification figures are used for FY2024 and FY2025 to assess the underlying growth of Both Businesses. (Revised) 123.7
Slide 21: FY2026 Year-on-Year Comparison by Segment
FY2026 Year-on-Year Comparison by Segment (Post-reclassification*3) FY2026 Q2 FY2026 Q2 (in Billions of ¥) [YoY] Cumulative Total Major factors of change Q2 [YoY] Q2 Cumulative total Domestic Communications Area (0.3) (0.3) Broadcasting Area (0.1) (0.3) Revenue*1 17.8 [+2.1] 35.3 [+5.1] +0.6 +1.5 G
Slide 22: Consolidated Balance Sheet (End of September 2026)
Consolidated Balance Sheet (End of September 2026) Assets Liabilities and Net Assets (in Billions of ¥) (in Billions of ¥) 425.0 425.0 407.8 407.8 54.6 60.4 55.2 189.8 40.3 186.6 165.4 307.0 315.1 151.2 5.6 5.1 64.3 64.6 End of March End of September End of March End of September 2026 2026 2026 2026
Slide 23: Earnings Results of Major Subsidiaries (FY2026 Q2)
Earnings Results of Major Subsidiaries (FY2026 Q2) Consolidated Total SJC former (Inc. other (in Billions of ¥) SPET JII JMC (former SJH) SJC* Consolidated Subsidiaries) Provision of Licensed broadcaster Sale of satellite A provider of mobile Business Broadcasting providing connections satellite - D
Slide 24: FY2026 Investment Plan and Depreciation Expense Plan
FY2026 Investment Plan and Depreciation Expense Plan (in Billions of ¥) FY2025 Q2 FY2026 Q2 FY2026 Investment Plan Cumulative Total* Cumulative Total Plan ① CAPEX 23.0 20.5 64.0 Space Business 21.6 19.8 60.0 Media Business 1.4 0.7 4.0 Others 0 0 0 ② Business investment 0.4 1.8 6.0 ①＋② Investment Tot
Slide 25: Capital Allocation for FY2025 - FY2027
[Updated] Changes due to the revision of the Capital Allocation for FY2025 - FY2027 dividend and FY2026 Forecast: shown in red FY2025 - FY2027 Plan FY2026 Plan IN OUT JPY220B OUT JPY70B Enhancement of JSAT-31/32, Superbird-9 Net Cash from Revenue Base Ground stations, Expansion of premises JPY50B Op
Slide 26: Annual Target of Subscribers
Annual Target of Subscribers FY2025 Q2 FY2026 Q2 Annual Target (in 10 Thousands) Cumulative Cumulative For FY2026 Total Total New Subscribers (IC cards or chips) 22.6 22.3 45.1 Net Increase (IC cards or chips) (7.8) (7.8) (8.6) - SKY PerfecTV! (5.2) (5.3) (3.6) - SKY PerfecTV! Premium Service (2.4)
Slide 27: SKY PerfecTV! Number of New Subscribers & Churns
SKY PerfecTV! Number of New Subscribers & Churns Number of New Subscribers Numbers of Churn (IC cards or chips) (IC cards or chips) Churn rate* (Quarterly) ■ Numbers of Churn (in Thousands) (in Thousands) (in Thousands) Note: All figures represent the total of ■ SKY PerfecTV! services. ■ 185 7.4
Slide 28: Number of Subscribing Households & Churns
Optical Fiber Based Re-transmission Service Number of Subscribing Households & Churns Number of New Subscribing Households Numbers of Churn Churn rate* (Quarterly) 120 Numbers of Churn (in Thousands) (in Thousands) (in Thousands) 100 1.8% 100 90 1.5% 1.6% 1.4% 80 1.3% 1.3% 1.4% 80 1.2% 70 1.1% 1
Slide 29: Average Monthly Contractor's Payment
Average Monthly Contractor’s Payment *1 (¥) 3,400 3,437 3,411 3,388 3,474 3,500 Revenue Recognition 30% 3,022 3,058 3,032 3,009 3,094 3,121 (Commission Revenues) 379 379 379 379 379 379 FY2025 Q1 Q2 Q3 Q4 FY2026 Q1 Q2 3,523 3,531 3,462 3,425 3,530 3,536 Revenue Recognition 50% 3,097 3,105 3,036 2,99
Slide 30: Total Subscribers Acquisition Cost (SAC)
Total Subscribers Acquisition Cost (SAC) (in Millions of ¥) 2,498 1,720 1,086 1,133 1,042 1,027 920 499 511 387 529 564 777 587 532 622 513 463 FY2025 Q1 Q2 Q3 Q4 FY2026 Q1 Q2 ■ Advertising expenses: advertising expense for various media ■ Promotion cost & Campaign cost : Costs for SKY PerfecTV! sub
Slide 31: Satellite Fleet Update
Satellite Fleet Update (As of October 2026) A total of 17 satellites covering areas from North America to the Indian Ocean The contractual backlog as of March 31, 2026 is ¥ 197.9billion. Horizons-2 *1 Horizons-4 *1 (74°W) (127°W) JCSAT-85 *1 Horizons-1 *1 (85°E) (150°W) Horizons 3e *1 (169°E) LEO Ea
Slide 32: List of Satellites
List of Satellites *1 Joint satellite with SES *2 Joint satellite with BSAT *3 Joint satellite with Kacific Number of Satellites in Possession: 17 geostationary(GEO) satellites (As of October 2026) Satellite Orbital Location Satellite Bus Launch Date (JST) Launch Vehicle Main Coverage/Beam Main Usag
Slide 33: Recent Key News Releases
Recent Key News Releases Date Title(Click on each title to access the relevant release) October 30, 2026 Notice of the Integrated Report 2026 Publication October 30, 2026 Notice Regarding the Ratio of Voting Rights of Foreign Nationals SKY Perfect JSAT Launches AQUANA: Flood Insights in 30 Minutes P
Slide 34: SKY Perfect JSAT Group Website
SKY Perfect JSAT Group Website SKY Perfect JSAT Group Website https://www.skyperfectjsat.space/?lang=en IR News https://www.skyperfectjsat.space/ir/ir_news?lang=en Please register for our email distribution service here https://www.skyperfectjsat.space/ir/mail/?lang=en We provide updates on the late