Quarterly Flash Report Results for the three months ended June 30, 2025

July 31, 2025

Company name: FUJI MEDIA HOLDINGS, INC.

Listing: Tokyo Stock Exchange Securities code: 4676

URL: https://www.fujimediahd.co.jp/en/

Representative: Kenji Shimizu President

Inquiries: Takeshi Goto Head of Finance Department Telephone: +81-3-3570-8000

Scheduled date to commence dividend payments: -

Preparation of supplementary material on financial results: Yes Holding of financial results briefing: Yes

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated Financial Results for the Three Months Ended June 30, 2025 (April 1, 2025 to June 30, 2025)

   1. Consolidated Operating Results (Percentages indicate year-on-year changes.)

      	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent
      Three months ended June 30, 2025 June 30, 2024	Millions of yen 116,140 129,609	% (10.4) (2.0)	Millions of yen (12,779) 6,553	% - 17.0	Millions of yen (10,656) 9,792	% - 24.5	Millions of yen 1,077 7,246	% (85.1) 40.2

      (Note) Comprehensive income:	Three months ended June 30, 2025:	¥	(6,693) million [	-%]
      	Three months ended June 30, 2024:	¥	1,071 million [	(92.5) %]

      	Basic earnings per share	Diluted earnings per share
      Three months ended	Yen	Yen
      June 30, 2025	5.19	-
      June 30, 2024	33.92	-

   2. Consolidated Financial Position

   	Total assets	Net assets	Capital adequacy ratio
   As of June 30, 2025 March 31, 2025	Millions of yen 1,440,916 1,440,296	Millions of yen 818,541 830,023	% 56.0 56.8

   (Reference) Equity: As of June 30, 2025:	¥	806,714 million
   As of March 31, 2025:	¥	818,166 million

2. Dividends

   	Annual dividends
   	1st quarter-end	2nd quarter-end	3rd quarter-end	Year-end	Total
   Fiscal year ended March 31, 2025 Fiscal year ending March 31, 2026	Yen - -	Yen 25.00	Yen -	Yen 25.00	Yen 50.00
   Fiscal year ending March 31, 2026 (Forecast)		25.00	-	25.00	50.00

   (Note) Revision to the forecast for dividends announced most recently: None

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2026 (April 1, 2025 to March 31, 2026)

(Percentages indicate year-on-year changes.)

1. Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: None

2. Changes in accounting policies, changes in accounting estimates, and restatement

   1. Changes in accounting policies due to revisions to accounting standards and other regulations: None

   2. Changes in accounting policies due to other reasons: None

   3. Changes in accounting estimates: None

   4. Restatement: None

3. Number of issued shares (common shares)

   1. Total number of issued shares at the end of the period (including treasury shares): June 30, 2025: 234,194,500 shares

      March 31, 2025: 234,194,500 shares

   2. Number of treasury shares at the end of the period:

      June 30, 2025: 26,708,510 shares

      March 31, 2025: 26,738,332 shares

   3. Average number of shares outstanding during the period:

Three months ended June 30, 2025: 207,485,998 shares

Three months ended June 30, 2024: 213,622,048 shares

• Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: None

• Proper use of earnings forecasts, and other special matters

The forward-looking statements made in this document, including the aforementioned forecasts, are based on all information available to the management at the time of this document's release and certain assumptions considered rational. Actual results may differ materially from the forecasts due to various factors in the future.

Regarding the assumptions forming the forecast of financial results, please refer to "1. QUALITATIVE INFORMATION ON CONSOLIDATED FINANCIAL RESULTS FOR THE FIRST QUARTER OF THE FISCAL YEAR ENDING MARCH 31, 2026: (3)

Explanation of Consolidated Financial Results Forecasts and Other Future Projections" on page 7.

1. QUALITATIVE INFORMATION ON CONSOLIDATED FINANCIAL RESULTS FOR THE FIRST QUARTER OF THE FISCAL YEAR ENDING MARCH 31, 2026 4
   1. Explanation of Business Results 4
   2. Explanation of Financial Position 6
   3. Explanation of Consolidated Financial Results Forecasts and Other Future Projections 7
2. CONSOLIDATED FINANCIAL STATEMENTS AND PRIMARY NOTES 8

1. Consolidated Balance Sheets 8
2. Consolidated Statements of Income and Consolidated Statements of Comprehensive Income 10
3. Notes to Consolidated Financial Statements 12

In the three months ended June 30, 2025 (April 1, 2025 to June 30, 2025), following the incident at Fuji Television Network, Inc. ("Fuji TV"), the company's revenue from terrestrial TV advertising and streaming advertising decreased significantly. Meanwhile, in the Hotels & Resorts segment, in addition to the contribution of Kobe Suma Sea World, which had its grand opening on June 1, 2024, occupancy rates in the hotels operated by a Fuji Media Holdings Group (hereinafter referred to as the "Group") company remained strong, capturing robust inbound tourism demand, which continues to reach record highs.

Amid this environment, consolidated net sales of the Group decreased overall during the three months ended June 30, 2025, down 10.4% year-on-year to ¥116,140 million, due to a decrease in the Media & Content segment, despite an increase in the Urban Development, Hotels & Resorts segment.

In terms of earnings, operating profit overall fell by ¥19,333 million year-on-year, resulting in a loss of ¥12,779 million, with the Media & Content segment recording a decrease and the Urban Development, Hotels & Resorts segment recording an increase. Ordinary profit fell by ¥20,449 million year-on-year, resulting in a loss of ¥10,656 million, as an increase in dividend income was offset by a loss in equity in earnings of affiliates. Due to the recording of gain on sale of investment securities in extraordinary income, profit attributable to owners of parent decreased by 85.1% year-on-year to ¥1,077 million.

Results by operating segment are as follows.

Three months ended June 30

Due to the incident, Fuji TV saw a decrease in broadcasting and media revenues as its terrestrial TV advertising sales in all categories-network time, local time and spot advertising decreased significantly, and streaming advertising revenue was also down. In its content business, the movie business recorded an overall decrease in revenue, as, despite growth in distribution and video revenues, secondary uses of past productions failed to reach the level of the same period of the previous fiscal year. Meanwhile, digital business revenue increased due to growth in revenue from FOD subscription fees and streaming rights sales. Increased revenues in the event business, where musical productions performed strongly, and in the animation development business, helped by

character royalty revenue and the contribution of animation productions broadcast in the current fiscal year, led to an increase in overall content business revenue. As a result of the above, Fuji TV recorded a decline in overall net sales compared to the same period of the previous fiscal year due to the significant decrease in revenue in its terrestrial TV advertising sales. This also resulted in an operating loss on the earnings front.

At Fuji Satellite Broadcasting, Inc., time advertising sales and spot advertising sales decreased, and broadcasting business revenue decreased as a result. Although the difference in the scale of events compared with the same period of the previous fiscal year led to an increase in net sales in the events business, this was unable to offset the decline in revenue in the broadcasting business, and both revenue and earnings decreased overall.

Nippon Broadcasting System, Inc. recorded a decrease in net sales overall. Although the performance of the broadcasting business was on a par with the same period of the previous fiscal year, there was a large reactionary decline in the event business caused by the absence of major events held in the same period of the previous fiscal year. However, improvements in the cost ratio in both the broadcasting business and the event business contributed to an increase in earnings.

Pony Canyon Inc. recorded a decrease in revenue as program sales and distribution fees decreased due to a decline in the number of hit animation productions and the scale of events not reaching that of the same period of the previous fiscal year, despite a strong performance in music packages due to new music releases. It recorded an operating loss due to write-downs of animation-related investments and an increase in selling, general and administrative expenses.

Fujipacific Music Inc. recorded a decrease in revenue overall, as its core revenues from royalties failed to reach the level of the same period of the previous fiscal year and there was a reactionary decline in management revenue. Earnings decreased due a temporary increase in selling, general and administrative expenses.

dinos Inc. (its trade name was changed from DINOS CORPORATION as of July 1, 2025) saw a decrease in overall revenue due to underperformances in catalog sales in the furniture and storage, living, beauty and health, and fashion categories, despite strong performances in sales from television shopping. Thorough efforts made in cost control, including optimization of catalog issuance, resulted in operating profit returning to positive figures for the first time in four fiscal years.

Quaras Inc. recorded increases in both revenue and earnings due to strong performances in web-related advertising, marketing, and promotion-related revenue.

As the result of the above, for the overall Media & Content segment, net sales decreased 32.6% from the same period of the previous fiscal year to ¥66,710 million, and segment operating profit decreased by ¥23,431 from the same period of the previous fiscal year, resulting in a segment loss of ¥20,396 million.

THE SANKEI BUILDING CO., LTD. recorded increases in both revenue and earnings, due to the continued strong performance of revenue from the leasing of office buildings, hotels, and rental residences. Additional factors included sales of owned properties and properties under development, as well as the scale of large condominium sales exceeding those of the same period of the previous fiscal year.