Note: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
Consolidated Financial Results for the Year Ended March 31, 2025
[Japanese GAAP]
May 14, 2025
Company name: | TV TOKYO Holdings Corporation | ||||||
Stock exchange listing: | Tokyo Stock Exchange | ||||||
Code number: | 9413 | ||||||
URL: | https://www.txhd.co.jp | ||||||
Representative: | Ichiro Ishikawa, | CEO President | |||||
Inquiries: | Koichi Komaru, | General Manager, Finance Division | |||||
Telephone: | +81-3-6635-1771 | ||||||
Scheduled date of annual general meeting of shareholders: | June 19, 2025 | ||||||
Scheduled date to commence dividend payments: | June 20, 2025 | ||||||
Scheduled date to file annual securities report: | June 18, 2025 | ||||||
Preparation of supplementary material on financial results: | Yes | ||||||
Holding of financial results briefing: | Yes (for analysts and institutional investors and for the press) | ||||||
(Yen amounts are rounded down to millions, unless otherwise noted.)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2025 (April 1, 2024 to March 31, 2025)
Consolidated Operating Results (Percentages indicate year-on-year changes.)
Net sales
Operating profit
Ordinary profit
Profit attributable to owners of parent
Fiscal year ended
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
March 31, 2025
155,837
4.9
7,789
(11.9)
8,255
(14.0)
6,034
(10.4)
March 31, 2024
148,587
(1.6)
8,836
(4.3)
9,599
2.4
6,736
0.2
(Note) Comprehensive income:
Fiscal year ended March 31, 2025:
¥
6,123 million
[
(30.2) %]
Fiscal year ended March 31, 2024:
¥
8,776 million
[
42.1%]
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, 2025
224.33
-
6.0
5.6
5.0
March 31, 2024
248.44
-
7.0
6.7
5.9
(Reference) Equity in earnings (losses) of affiliated companies: Fiscal year ended March 31, 2025:
¥
130 million
Fiscal year ended March 31, 2024:
¥
198 million
Consolidated Financial Position
Total assets
Net assets
Equity ratio
Net assets per share
As of
Millions of yen
Millions of yen
%
Yen
March 31, 2025
147,843
101,900
68.8
3,811.59
March 31, 2024
147,094
99,268
67.4
3,661.48
(Reference) Equity: As of March 31, 2025:
¥
101,703 million
As of March 31, 2024:
¥
99,074 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 the end of period
Fiscal year ended
Millions of yen
Millions of yen
Millions of yen
Millions of yen
March 31, 2025
7,569
(2,015)
(4,055)
37,680
March 31, 2024
6,471
(4,706)
(3,414)
36,153
Dividends
Annual dividends
Total dividends
Payout ratio
(consolidated)
Dividends to net assets (consolidated)
1st quarter-end
2nd quarter-end
3rd quarter-end
Year-end
Total
Fiscal year ended
Yen
Yen
Yen
Yen
Yen
Millions of yen
%
%
March 31, 2024
-
15.00
-
65.00
80.00
2,165
32.2
2.3
March 31, 2025
-
15.00
-
75.00
90.00
2,404
40.1
2.4
Fiscal year ending March 31, 2026
(Forecast)
-
15.00
-
75.00
90.00
38.4
(Note) Breakdown of the year-end dividend for the fiscal year ended March 31, 2025 : Ordinary dividend 65.00 yen
Commemorative dividend 10.00 yen
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.)
Net sales | Operating profit | Ordinary profit | Profit attributable to owners of parent | Basic earnings per share | |||||
Full year | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen |
157,000 | 0.7 | 8,000 | 2.7 | 8,400 | 1.8 | 6,300 | 4.4 | 234.19 | |
* Notes:
(1) Significant changes in the scope of consolidation during the period: | None | ||
Newly included: | - | (Company name: | ) |
Excluded: | - | (Company name: | ) |
(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: | Yes | |||
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): | ||
March 31, 2025: | 27,579,500 | shares |
March 31, 2024: | 27,579,500 | shares |
2) Number of treasury shares at the end of the period: | ||
March 31, 2025: | 896,743 | shares |
March 31, 2024: | 520,861 | shares |
3) Average number of shares outstanding during the period: | ||
Fiscal Year ended March 31, 2025: | 26,900,772 | shares |
Fiscal Year ended March 31, 2024: | 27,113,907 | shares |
* 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 The forward-looking statements in the report, including financial results forecast, are based on the assumptions that the Company determines reasonable in light of information available. Actual performance, etc. may differ materially due to various factors. |
Consolidated Financial Statements
Consolidated Balance Sheets
(Millions of yen)
As of March 31, 2024
As of March 31, 2025
Assets
Current assets
Cash and deposits
40,199
41,764
Notes and accounts receivable - trade
32,727
34,728
Money held in trust
402
394
Programs and films
9,906
9,089
Merchandise
745
931
Supplies
13
13
Income taxes refund receivable
2,135
17
Other
2,632
3,501
Allowance for doubtful accounts
(4)
(3)
Total current assets
88,758
90,436
Non-current assets
Property, plant and equipment
Buildings and structures, net
9,698
9,047
Machinery, equipment and vehicles, net
8,802
7,670
Tools, furniture and fixtures, net
656
679
Land
4,291
4,254
Leased assets, net
857
883
Construction in progress
-
426
Total property, plant and equipment
24,307
22,961
Intangible assets
Software
5,634
6,460
Other
16
16
Total intangible assets
5,651
6,476
Investments and other assets
Investment securities
21,080
20,661
Long-term loans receivable
2
1
Deferred tax assets
941
1,151
Other
6,370
6,157
Allowance for doubtful accounts
(18)
(2)
Total investments and other assets
28,376
27,969
Total non-current assets
58,335
57,407
Total assets
147,094
147,843
(Millions of yen)
As of March 31, 2024
As of March 31, 2025
Liabilities
Current liabilities
Notes and accounts payable - trade
5,536
5,016
Short-term borrowings
5,100
5,100
Current portion of long-term borrowings
165
166
Lease liabilities
162
181
Accrued expenses
21,235
22,027
Income taxes payable
2,262
1,623
Provision for bonuses
2,156
2,301
Provision for bonuses for directors (and other officers)
156
154
Other
6,830
5,790
Total current liabilities
43,606
42,362
Non-current liabilities
Long-term borrowings
451
381
Long-term accounts payable - other
560
49
Lease liabilities
730
745
Deferred tax liabilities
647
685
Provision for retirement benefits for directors (and other officers)
38
39
Retirement benefit liability
1,710
1,612
Other
80
66
Total non-current liabilities
4,219
3,580
Total liabilities
47,825
45,943
Net assets
Shareholders' equity
Share capital
10,000
10,000
Capital surplus
18,267
18,342
Retained earnings
67,149
71,022
Treasury shares
(1,330)
(2,736)
Total shareholders' equity
94,086
96,628
Accumulated other comprehensive income
Valuation difference on available-for-sale
securities
4,935
4,983
Foreign currency translation adjustment
70
98
Remeasurements of defined benefit plans
(17)
(7)
Total accumulated other comprehensive income
4,988
5,074
Non-controlling interests
193
196
Total net assets
99,268
101,900
Total liabilities and net assets
147,094
147,843
Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income
(Millions of yen)
For the fiscal year ended March 31, 2024
For the fiscal year ended March 31, 2025
Net sales
148,587
155,837
Cost of sales
102,844
107,581
Gross profit
45,743
48,256
Selling, general and administrative expenses
Personnel expenses
9,443
9,640
Provision for bonuses
756
856
Provision for bonuses for directors (and other officers)
156
159
Retirement benefit expenses
485
484
Provision for retirement benefits for directors (and
other officers)
21
21
Agent fees
16,296
17,692
Rent expenses
2,180
2,260
Depreciation
700
1,026
Other
6,865
8,324
Total selling, general and administrative expenses
36,906
40,466
Operating profit
8,836
7,789
Non-operating income
Interest income
3
18
Dividend income
495
249
Foreign exchange gains
43
-
Share of profit of entities accounted for using equity
method
198
130
Rental income
50
53
Gain on investments in investment partnerships
-
68
Other
64
66
Total non-operating income
855
585
Non-operating expenses
Interest expenses
24
39
Foreign exchange losses
-
9
Loss on investments in investment partnerships
31
16
Litigation expenses
10
-
Commission expenses
7
20
Other
17
35
Total non-operating expenses
92
120
Ordinary profit
9,599
8,255
(Millions of yen)
For the fiscal year ended March 31, 2024
For the fiscal year ended March 31, 2025
Extraordinary income
Gain on sale of non-current assets
2
23
Gain on sale of investment securities
1,150
517
Other
2
-
Total extraordinary income
1,155
541
Extraordinary losses
Loss on retirement of non-current assets
42
33
Impairment losses
348
-
Loss on sale of investment securities
-
19
Loss on valuation of investment securities
30
-
Loss on revision of retirement benefit plan
31
-
Total extraordinary losses
453
53
Profit before income taxes
10,301
8,743
Income taxes - current
3,501
2,912
Income taxes - deferred
52
(206)
Total income taxes
3,553
2,705
Profit
6,748
6,037
Profit attributable to non-controlling interests
11
2
Profit attributable to owners of parent
6,736
6,034
Consolidated Statements of Comprehensive Income
(Millions of yen)
For the fiscal year ended March 31, 2024
For the fiscal year ended March 31, 2025
Profit
6,748
6,037
Other comprehensive income
Valuation difference on available-for-sale securities
1,990
52
Foreign currency translation adjustment
14
28
Remeasurements of defined benefit plans, net of tax
10
10
Share of other comprehensive income of entities
accounted for using equity method
13
(4)
Total other comprehensive income
2,028
86
Comprehensive income
8,776
6,123
Comprehensive income attributable to
Comprehensive income attributable to owners of parent
8,774
6,121
Comprehensive income attributable to non-controlling interests
2
2
Consolidated Statements of Changes in Equity
For the fiscal year ended March 31, 2024
(Millions of yen)
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders'
equity
Balance at beginning
of period
10,000
18,215
62,593
(598)
90,209
Changes during period
Dividends of surplus
(2,179)
(2,179)
Profit attributable to owners of parent
6,736
6,736
Purchase of
treasury shares
(973)
(973)
Disposal of treasury
shares
52
241
294
Net changes in items other than
shareholders' equity
Total changes
during period
-
52
4,556
(731)
3,877
Balance at end of
period
10,000
18,267
67,149
(1,330)
94,086
Accumulated other comprehensive income
Non-controlling interests
Total net assets
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other
comprehensive income
Balance at beginning
of period
2,922
55
(27)
2,950
191
93,351
Changes during period
Dividends of surplus
(2,179)
Profit attributable to owners of parent
6,736
Purchase of
treasury shares
(973)
Disposal of treasury
shares
294
Net changes in items other than
shareholders' equity
2,013
14
10
2,037
2
2,040
Total changes
during period
2,013
14
10
2,037
2
5,917
Balance at end of
period
4,935
70
(17)
4,988
193
99,268
For the fiscal year ended March 31, 2025
(Millions of yen)
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders'
equity
Balance at beginning
of period
10,000
18,267
67,149
(1,330)
94,086
Changes during period
Dividends of surplus
(2,161)
(2,161)
Profit attributable to owners of parent
6,034
6,034
Purchase of
treasury shares
(1,637)
(1,637)
Disposal of treasury
shares
75
231
306
Net changes in items other than
shareholders' equity
Total changes
during period
-
75
3,872
(1,405)
2,542
Balance at end of
period
10,000
18,342
71,022
(2,736)
96,628
Accumulated other comprehensive income
Non-controlling interests
Total net assets
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other
comprehensive income
Balance at beginning
of period
4,935
70
(17)
4,988
193
99,268
Changes during period
Dividends of surplus
(2,161)
Profit attributable to owners of parent
6,034
Purchase of
treasury shares
(1,637)
Disposal of treasury
shares
306
Net changes in items other than
shareholders' equity
48
28
10
86
2
89
Total changes
during period
48
28
10
86
2
2,631
Balance at end of
period
4,983
98
(7)
5,074
196
101,900
Consolidated Statements of Cash Flows
(Millions of yen) | ||
For the fiscal year ended March 31, 2024 | For the fiscal year ended March 31, 2025 | |
Cash flows from operating activities | ||
Profit before income taxes | 10,301 | 8,743 |
Depreciation | 3,961 | 4,236 |
Impairment losses | 348 | - |
Amortization of goodwill | 51 | - |
Increase (decrease) in provision for bonuses | (232) | 145 |
Increase (decrease) in provision for bonuses for directors (and other officers) | (28) | (2) |
Increase (decrease) in provision for retirement benefits for directors (and other officers) | (12) | 1 |
Increase (decrease) in retirement benefit liability | (200) | (87) |
Increase (decrease) in allowance for doubtful accounts | (1) | (16) |
Interest and dividend income | (499) | (267) |
Interest expenses | 24 | 39 |
Loss (gain) on sale of non-current assets | (2) | (23) |
Loss on retirement of non-current assets | 42 | 33 |
Loss (gain) on sale of investment securities | (1,150) | (497) |
Loss (gain) on valuation of investment securities | 31 | - |
Share of loss (profit) of entities accounted for using equity method | (198) | (130) |
Decrease (increase) in trade receivables | (3,528) | (2,000) |
Decrease (increase) in inventories | 70 | 632 |
Increase (decrease) in trade payables | (374) | (519) |
Increase (decrease) in accrued expenses | (804) | 791 |
Increase (decrease) in contract liabilities | (38) | (40) |
Increase (decrease) in advances received | 106 | 114 |
Other, net | 420 | (293) |
Subtotal | 8,289 | 10,856 |
Interest and dividends received | 504 | 275 |
Interest paid | (24) | (39) |
Income taxes paid | (2,297) | (3,522) |
Net cash provided by (used in) operating activities | 6,471 | 7,569 |
Cash flows from investing activities | ||
Payments into time deposits | (8,093) | (13,636) |
Proceeds from withdrawal of time deposits | 8,047 | 13,604 |
Purchase of property, plant and equipment | (2,035) | (1,108) |
Purchase of intangible assets | (2,877) | (2,185) |
Purchase of investment securities | (1,508) | (336) |
Proceeds from sale of investment securities | 2,034 | 1,373 |
Purchase of shares of subsidiaries and associates | (438) | - |
Proceeds from collection of loans receivable | 21 | 0 |
Other, net | 143 | 273 |
Net cash provided by (used in) investing activities | (4,706) | (2,015) |
(Millions of yen) | ||
For the fiscal year ended March 31, 2024 | For the fiscal year ended March 31, 2025 | |
Cash flows from financing activities | ||
Repayments of lease liabilities | (55) | (185) |
Repayments of long-term borrowings | (207) | (168) |
Proceeds from long-term borrowings | - | 100 |
Purchase of treasury shares | (973) | (1,637) |
Dividends paid | (2,178) | (2,163) |
Net cash provided by (used in) financing activities | (3,414) | (4,055) |
Effect of exchange rate change on cash and cash equivalents | 14 | 28 |
Net increase (decrease) in cash and cash equivalents | (1,634) | 1,527 |
Cash and cash equivalents at beginning of period | 37,787 | 36,153 |
Cash and cash equivalents at end of period | 36,153 | 37,680 |