SKY Perfect JSAT : Consolidated Financial Results for the Year Ended March 31, 2026 PDF（998KB）

April 28, 2026

Company name: SKY Perfect JSAT Corporation Listing: Tokyo Stock Exchange

Securities code: 9412

URL: https://www.skyperfectjsat.space/ Representative: Eiichi Yonekura Inquiries: Isao Kubo

Telephone: +81-3-5571-7800

Representative Director, President & Chief Executive Officer

Vice President Executive Officer

Scheduled date of annual general meeting of shareholders: June 19, 2026 Scheduled date to commence dividend payments: June 4, 2026 Scheduled date to file annual securities report: June 16, 2026

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 fiscal year ended March 31, 2026 (from April 1, 2025 to March 31, 2026)
   1. Consolidated operating results (Percentages indicate year-on-year changes.)

      	Operating revenue		Operating profit		Ordinary profit		Profit attributable to owners of parent
      Fiscal year ended March 31, 2026 March 31, 2025	Millions of yen 127,584 123,721	% 3.1 1.5	Millions of yen 35,273 27,488	% 28.3 3.6	Millions of yen 35,420 27,290	% 29.8 0.6	Millions of yen 23,311 19,106	% 22.0 7.7

      Note: Comprehensive income	For the fiscal year ended March 31, 2026:	¥	32,256 million [	80.5%]
      	For the fiscal year ended March 31, 2025:	¥	17,872 million [	(31.8) %]

      	Basic earnings per share	Diluted earnings per share	Rate of return on equity	Ordinary profit to total assets ratio	Operating profit to net sales ratio
      Fiscal year ended	Yen	Yen	%	%	%
      March 31, 2026	82.25	-	8.0	8.7	27.6
      March 31, 2025	67.43	-	6.9	6.7	22.2

      Reference: Share of profit (loss) of entities accounted for using equity method

      For the fiscal year ended March 31, 2026:	¥	(2,146) million
      For the fiscal year ended March 31, 2025:	¥	(1,146) million

   2. Consolidated financial position

      	Total assets	Net assets	Equity-to-asset ratio	Net assets per share
      As of March 31, 2026 March 31, 2025	Millions of yen 407,759 403,414	Millions of yen 307,035 284,174	% 74.4 69.8	Yen 1,070.96 993.48

      Reference: Equity

      As of March 31, 2026:	¥	303,553 million
      As of March 31, 2025:	¥	281,509 million

   3. Consolidated cash flows

   	Cash flows from operating activities	Cash flows from investing activities	Cash flows from financing activities	Cash and cash equivalents at end of period
   Fiscal year ended March 31, 2026 March 31, 2025	Millions of yen 53,667 42,375	Millions of yen (76,458) (25,776)	Millions of yen (32,281) (16,743)	Millions of yen 57,647 114,516

2. Cash dividends

   	Annual dividends per share					Total cash dividends (Total)	Payout ratio (Consolidated)	Ratio of dividends to net assets (Consolidated)
   	First quarter-end	Second quarter-end	Third quarter-end	Fiscal year-end	Total
   	Yen	Yen	Yen	Yen	Yen	Millions of yen	%	%
   Fiscal year ended March 31, 2025	-	11.00	-	16.00	27.00	7,650	40.0	2.8
   Fiscal year ended March 31, 2026	-	19.00	-	23.00	42.00	11,904	51.1	4.1
   Fiscal year ending March 31, 2027 (Forecast)	-	24.00	-	24.00	48.00		50.4

   Note: Breakdown of the year-end dividend for the fiscal year ended March 31, 2026 : Commemorative dividend - yen

   Special dividend - yen

3. Consolidated financial result forecasts for the fiscal year ending March 31, 2027 (from April 1, 2026 to March 31, 2027)

(Percentages indicate year-on-year changes.)

1. 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

2. Number of issued shares (common shares)

   1. Total number of issued shares at the end of the period (including treasury shares)

      As of March 31, 2026	297,681,264 shares
      As of March 31, 2025	297,681,264 shares

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

      As of March 31, 2026	14,241,474 shares
      As of March 31, 2025	14,323,086 shares

   3. Average number of shares outstanding during the period

• Financial results reports are exempt from audit conducted by certified public accountants or an audit firm.

• Proper use of earnings forecasts, and other special matters

Consolidated Financial Statements and Primary Notes

Consolidated Balance Sheet

(Millions of yen)

As of March 31, 2025

As of March 31, 2026

Assets

(Millions of yen)

As of March 31, 2025

As of March 31, 2026

Liabilities

Current liabilities

Consolidated Statements of Income and Comprehensive Income

Consolidated Statement of Income

(Millions of yen)

Share of loss of entities accounted for using equity method

1,146

2,146

For the fiscal year ended March 31, 2025

For the fiscal year ended March 31, 2026

Operating costs

66,395

64,702

Selling, general and administrative expenses

29,837

27,608

Non-operating income

Dividend income

17

16

Compensation income

340

340

Total non-operating income

2,811

3,364

Interest expenses

1,537

876

Foreign exchange losses

42

-

Total non-operating expenses

3,009

3,218

Extraordinary income

Gain on sale of shares of subsidiaries

279

-

Total extraordinary income

646

414

Impairment losses

-

852

Total extraordinary losses

-

926

Income taxes - current

7,510

11,156

Total income taxes

8,435

11,253

Profit attributable to non-controlling interests

396

343

Profit attributable to owners of parent 19,106 23,311

Extraordinary losses

Non-operating expenses

Other 341 419

Foreign exchange gains - 24

Interest income 2,111 2,564

Operating profit 27,488 35,273

Operating gross profit 57,326 62,882

Operating revenue 123,721 127,584

Profit 19,502 23,655

Income taxes - deferred 925 97

Profit before income taxes 27,937 34,908

Loss on valuation of investment securities - 73

Gain on change in equity - 414

Gain on sale of investment securities 367 -

Ordinary profit 27,290 35,420

Other 282 196

Consolidated Statement of Comprehensive Income

(Millions of yen)

Comprehensive income attributable to owners of parent

17,394

31,846

Share of other comprehensive income of entities accounted for using equity method

(13)

65

For the fiscal year ended March 31, 2025

For the fiscal year ended March 31, 2026

Other comprehensive income

Deferred gains or losses on hedges

1,272

4,355

Remeasurements of defined benefit plans, net of tax

263

380

Total other comprehensive income

(1,630)

8,601

Comprehensive income attributable to

Comprehensive income 17,872 32,256

Foreign currency translation adjustment 3,499 530

Valuation difference on available-for-sale securities (6,651) 3,268

Profit 19,502 23,655

Comprehensive income attributable to non-controlling

interests

477 409

Consolidated Statement of Changes in Equity

For the fiscal year ended March 31, 2025

(Millions of yen)

For the fiscal year ended March 31, 2026

(Millions of yen)

Consolidated Statement of Cash Flows

For the fiscal year ended March 31, 2025

(Millions of yen)

For the fiscal year ended March 31, 2026

Cash flows from operating activities

Depreciation 18,283 15,463

Profit before income taxes 27,937 34,908

Interest and dividend income (2,129) (2,580)

Impairment losses - 852

Interest expenses 1,537 876

Loss (gain) on change in equity - (414)

Loss (gain) on valuation of investment securities - 73

Increase (decrease) in broadcasting rights (73) 643

Decrease (increase) in trade receivables 4,140 4,116

Decrease (increase) in advance payments to suppliers (2,175) (220)

Decrease (increase) in inventories (147) 462

Increase (decrease) in unearned revenue (803) (392)

Increase (decrease) in accounts payable - other 1,094 (660)

Other, net (1,515) 1,364

Decrease (increase) in lease receivables 3,293 2,597

Interest and dividends received 2,279 2,927

Subtotal 50,589 59,237

Income taxes paid (8,757) (7,438)

Interest paid (1,735) (1,059)

Cash flows from investing activities

Net cash provided by (used in) operating activities 42,375 53,667

Purchase of intangible assets (2,376) (3,109)

Purchase of property, plant and equipment (21,577) (47,001)

Purchase of investment securities (334) (9,922)

Payments into time deposits - (20,862)

Proceeds from collection of loans receivable 4,701 6,274

Purchase of shares of subsidiaries and associates (7,300) (3,447)

Proceeds from withdrawal of time deposits - 1,600

Other, net 182 7

Proceeds from sale of shares of subsidiaries resulting in change in scope of consolidation

416 -

Cash flows from financing activities

Net cash provided by (used in) investing activities (25,776) (76,458)

Redemption of bonds - (10,000)

Repayments of long-term borrowings (10,995) (12,977)

Dividends paid to non-controlling interests (113) (102)

Dividends paid (6,229) (9,911)

Proceeds from issuance of share acquisition rights 200 -

Proceeds from sale of shares of subsidiaries not resulting in change in scope of consolidation

394 710

Net cash provided by (used in) financing activities (16,743) (32,281)

Cash and cash equivalents at beginning of period 114,321 114,516

Net increase (decrease) in cash and cash equivalents 194 (55,428)

Increase (decrease) in cash and cash equivalents resulting from change in scope of consolidation

- (1,439)

Share of loss (profit) of entities accounted for using equity method

1,146

2,146

Proceeds from sale and redemption of investment securities

510

0

Effect of exchange rate change on cash and cash equivalents

338

(355)

Cash and cash equivalents at end of period 114,516 57,647

Significant Subsequent Event

(Absorption-type Merger of a Consolidated Subsidiary)

The Company implemented an absorption-type merger effective April 1, 2026, with the Company as the surviving company and SKY Perfect JSAT Corporation, a specified subsidiary of the Company, as the absorbed entity. In addition, effective the same date, the Company changed its trade name to "SKY Perfect JSAT Corporation."

1. Name and Description of the Combined Company

   Name of the combined company	SKY Perfect JSAT Corporation
   Description of business	Space Business and Media Business

2. Date of the Business Combination April 1, 2026

3. Method of the Absorption-type Merger

   An absorption-type merger with the Company as the surviving company and SKY Perfect JSAT Corporation as the absorbed company.

4. Name of the Company after the Merger SKY Perfect JSAT Holdings Inc.

   (Changed its trade name to SKY Perfect JSAT Corporation effective April 1, 2026)

5. Purpose of the Merger

   Since the establishment of our holding company through a management integration in April 2007, our group has been working to enhance corporate value, centered around our core business company, SKY Perfect JSAT. With the rapid changes in our business environment, such as the spread of video distribution services, the increase in government budgets related to space, and the development of industries due to technological innovations, we have announced cumulative growth investments exceeding 300 billion yen to achieve our profit targets set for fiscal year 2030. As a space solution provider utilizing both geostationary satellites and low Earth orbit satellites, the execution of growth strategies requires greater speed, transparency, and efficiency than ever before. By eliminating the dual structure of the holding company and the business company, we aim to accelerate decision-making in management, streamline organizational operations, strengthen corporate governance, and further enhance corporate value."

6. Allocation Related to the Absorption-type Merger Not applicable.

7. Financial Position and Operating Results of the Merging Company (For the fiscal year ended March 31, 2026)

   Total assets	¥354,516 million
   Net assets	¥274,827 million
   Operating revenue	¥118,076 million
   Net Income	¥23,148 million

8. Outline of Accounting Treatment

In accordance with "Accounting Standard for Business Combinations" and "Implementation Guidance on Accounting Standard for Business Combinations and on Accounting Standard for Business Divestitures," the transaction will be accounted for as a transaction under common control.