(Japanese GAAP)
Stock listing: Tokyo Stock Exchange (Prime Market) Code number: 9404 URL: https://www.ntvhd.co.jp/english/
Representative: Yoshikuni Sugiyama, Representative Director, Chairman and Chief Executive Officer Information contact: Masaharu Sato, President, Financial Management Division
Tel: +81-3-6215-4111
Filing of statutory financial report: November 10, 2025 Schedule dates: Dividends payout: December 01, 2025
November 6, 2025Supplementary materials to financial results available: Yes Result meeting held: Yes（For institutional investors and analysts）
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Results for the 2ndQuarter FY2025 (From April 1, 2025 to September 30, 2025)
-
Consolidated operating results (Figures less than 1 million yen have been omitted.)
Net sales
(% change from the previous year)
Operating profit
(% change from the previous year)
Recurring profit
(% change from the previous year)
Millions of yen
%
Millions of yen
%
Millions of yen
%
2ndQtr FY 2025
234,481
8.1
33,210
57.1
39,801
64.1
2ndQtr FY 2024
216,873
10.6
21,141
25.9
24,255
16.4
(Note) Comprehensive income: 2ndQtr FY2025 ¥ 39,938 million (△16.6%) 2ndQtr FY2024 ¥ 47,914 million (28.9%)
Net income attributable to owners of the parent
(% change from the previous year)
Net income per share
Diluted
income per share
Millions of yen
%
yen
yen
2ndQtr FY 2025
26,398
65.3
105.66
103.63
2ndQtr FY 2024
15,968
16.5
63.65
63.58
- Consolidated financial position
Total assets
Net assets
Shareholders' equity ratio
2ndQtr FY 2025 FY 2024
Millions of yen
1,261,738
1,232,117
Millions of yen
1,019,104
990,992
%
78.1
77.9
(For reference) Equity capital: 2ndQtr FY 2025 ¥ 985,474 million FY 2024 ¥ 959,683 million
-
Consolidated operating results (Figures less than 1 million yen have been omitted.)
-
Cash Dividends
Dividends per share
1Q
2Q
3Q
Year-end
Annual
FY 2024
yen
-
yen
10.00
yen
-
yen
30.00
yen
40.00
FY 2025
-
10.00
Forecast for FY 2025
-
30.00
40.00
(Note) Revisions of cash dividends forecast: None
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Forecast for FY 2025 (From April 1, 2025 to March 31, 2026)
Net sales
Operating profit
Recurring profit
FY2025
Millions of yen %
473,000 2.4
Millions of yen %
59,000 7.4
Millions of yen %
7,000 6.5
Net income attributable to owners of the parent
Net income per share
FY2025
Millions of yen %
50,000 8.7
yen
200.14
(Note) Revisions in consolidated forecasts: Yes
For more details, please refer to the press release titled "Notice of Recording of Gain on Sales of Investment Securities (Extraordinary Gains) and Revision of Full-Year Earnings Forecasts," which is publicly disclosed today, November 6, 2025.
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Explanatory Notes
Changes in significant subsidiaries during the period (Reclassification due to change in scope of consolidation):
None
Application of accounting methods specific to preparation of the quarterly consolidated financial statements: Yes
Change in the accounting policies, accounting estimates and restatements.
① Changes in accounting policies due to amendment of accounting standards: None
② Change in accounting policies other than ① : None
③ Changes in accounting estimate: None
④ Restatement: None
Issued shares (Common stock)
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Explanatory Notes
2ndQtr FY 2025 | 263,822,080 shares | FY2024 | 263,822,080 shares |
2ndQtr FY 2025 | 13,994,642 shares | FY2024 | 13,460,660 shares |
2ndQtr FY 2025 | 249,837,035 shares | 2ndQtr FY 2024 | 250,876,546 shares |
① Issued shares at the end of period (Including treasury stock)
② Treasury stock at the end of period
③ Average shares (2ndQtr.)
(Note) The number of treasury stock at the end of the period includes shares of the Company held by Trust-type Employee Shareholding Incentive Plan (1,090,100 shares as of 2ndQtr FY2025 and 1,269,400 shares as of FY2024). In addition, the shares of the Company owned by Trust-type Employee Shareholding Incentive Plan are included in the number of treasury stock deducted in the calculation of average number of shares outstanding during the period (1,174,785 shares as of 2ndQtr FY2025 and 1,598,328 shares as of 2ndQtr FY2024).
＊This flash report is outside the scope of audit by certified public accountants or an audit firm.
Semi-annual Consolidated Financial Statements and Primary Notes Semi-annual Consolidated Balance Sheet
(Millions of yen)
As of March 31, 2025
As of September 30, 2025
Assets
Current assets
Cash and deposits 93,293 98,555
Notes and accounts receivable - trade, and contract assets | 118,418 | 110,880 |
Securities | 106,010 | 54,995 |
Inventories | 5,162 | 6,379 |
Program rights | 7,135 | 6,753 |
Other | 22,205 | 23,374 |
Allowance for doubtful accounts | (412) | (393) |
Total current assets | 351,813 | 300,544 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures, net | 59,225 | 58,421 |
Machinery, equipment and vehicles, net | 7,560 | 6,647 |
Tools, furniture and fixtures, net | 2,859 | 3,170 |
Land | 179,742 | 179,837 |
Leased assets, net | 1,228 | 1,452 |
Construction in progress | 2,912 | 3,310 |
Total property, plant and equipment | 253,529 | 252,840 |
Intangible assets | ||
Goodwill | 9,863 | 9,446 |
Other | 19,180 | 18,953 |
Total intangible assets | 29,043 | 28,399 |
Investments and other assets | ||
Investment securities | 567,732 | 650,068 |
Long-term loans receivable | 2,688 | 2,240 |
Deferred tax assets | 4,218 | 4,210 |
Other | 24,000 | 23,625 |
Allowance for doubtful accounts | (908) | (192) |
Total investments and other assets | 597,731 | 679,953 |
Total non-current assets | 880,304 | 961,193 |
Total assets | 1,232,117 | 1,261,738 |
(Millions of yen)
As of March 31, 2025
As of September 30, 2025
Liabilities
Current liabilities
Accounts payable - trade | 14,418 | 12,035 |
Short-term borrowings | 2,399 | 2,285 |
Accounts payable - other | 7,632 | 12,637 |
Accrued expenses | 60,950 | 56,756 |
Income taxes payable | 15,650 | 11,987 |
Other | 17,547 | 20,406 |
Total current liabilities | 118,599 | 116,109 |
Non-current liabilities | ||
Long-term borrowings | 1,424 | 794 |
Lease liabilities | 5,620 | 5,361 |
Deferred tax liabilities | 71,218 | 76,030 |
Retirement benefit liability | 14,356 | 14,006 |
Long-term guarantee deposits | 21,357 | 21,355 |
Other | 8,549 | 8,976 |
Total non-current liabilities | 122,526 | 126,524 |
Total liabilities | 241,125 | 242,633 |
Net assets | ||
Shareholders' equity | ||
Share capital | 18,600 | 18,600 |
Capital surplus | 35,266 | 35,292 |
Retained earnings | 766,525 | 784,466 |
Treasury shares | (19,041) | (22,276) |
Total shareholders' equity | 801,350 | 816,082 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale securities | 157,886 | 168,988 |
Deferred gains or losses on hedges | 8 | 7 |
Foreign currency translation adjustment | 438 | 396 |
Total accumulated other comprehensive income | 158,332 | 169,391 |
Non-controlling interests | 31,309 | 33,630 |
Total net assets | 990,992 | 1,019,104 |
Total liabilities and net assets | 1,232,117 | 1,261,738 |
Semi-annual Consolidated Statements of Income and Comprehensive Income
Semi-annual Consolidated Statement of Income
Share of profit of entities accounted for using equity method
786
3,477
For the six months ended September 30, 2024
(Millions of yen)
For the six months ended September 30, 2025
Net sales 216,873 234,481
Cost of sales 143,967 147,025
Gross profit 72,906 87,456
Selling, general and administrative expenses 51,764 54,245
Operating profit 21,141 33,210
Non-operating income
Interest income 1,058 1,352
Dividend income 1,257 1,335
Other 529 357
Gain on investments in investment partnerships 277 457
Non-operating expenses
Total non-operating income 3,909 6,981
Foreign exchange losses 225 12
Interest expenses 133 110
Other 159 22
Loss on investments in investment partnerships 277 245
Ordinary profit 24,255 39,801
Total non-operating expenses 795 390
Gain on sale of non-current assets 0 0
Extraordinary income
Gain on change in equity 183 591
Gain on sale of investment securities 4,340 -
Total extraordinary income 4,524 605
Other 0 13
Loss on sale of non-current assets 4 1
Extraordinary losses
Loss on sale of investment securities 2 -
Loss on retirement of non-current assets 58 243
Impairment losses 145 -
Loss on valuation of investment securities 928 -
Other 56 1
Loss on liquidation of subsidiaries and associates 160 -
Profit before income taxes 27,424 40,160
Total extraordinary losses 1,355 246
Profit 17,959 28,880
Income taxes 9,465 11,280
Profit attributable to non-controlling interests 1,990 2,481
Profit attributable to owners of parent 15,968 26,398