Note: This document has been translated from 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.
TV TOKYO Holdings Corporation Summary of FY25/3 Full-year
◎Broadcast revenue recovery,Anime business also grew,and consolidated net sales rose 4.9% YoY to a record high.
◎Consolidated operating income fell 11.9% to 7.78 billion yen due to increased costs for the Olympics and anime titles.
・Broadcast revenue of TV Tokyo (non-consolidated) increased 4.0%, led by special programs for 60 years since the launch of Time,
and increased 7.1% in spots, including sales of automobiles and beverages. Broadcast profit rose 2.6% despite
cost burden from the Paris Olympics
・In TV Tokyo's (non-consolidated) rights business, overseas markets saw growth in games and streaming of
TV Tokyo Anime and Streaming
Business Revenue
（million yen）
"NARUTO" and "BORUTO," while distribution revenue from the movie "SPY×FAMILY" also contributed,
resulting in a 10.2% increase in anime-related sales. The streaming business also performed well with new dramas
Record
-high
15,899 18,038
22,196 20,971 23,103
such as "Until I Destroy My Husband's Family" and "Courtroom Dragon." However, increased costs from a rise
in new anime titles and higher production expenses led to a 6.9% decrease in profits from the overall rights business,
5,901
8,535 10,421 11,518 11,759
including anime, streaming, and events.
＜Shareholder returns＞
・Commemorative dividend of ¥10 (annual dividend of ¥80 ➡ ¥90) and share repurchases,
resulting in a total return of ¥4.04 billion High dividend payout ratio of 40.1% and total return ratio of 67.0%
＜Medium-Term Management Plan for FY 25 to FY 27 ＞
・In addition to animation and streaming, which continues to grow, economic reporting, proprietary
IP (intellectual property) such as " Push baby", and various streaming services are the new engines,
FY21/3 FY22/3 FY23/3 FY24/3 FY25/3
Anime Streaming Business
Consolidated Net Income
6,724
6,024
（million yen）
6,736
6,034
2,590 2,575
FY20/3 FY21/3 FY22/3 FY23/3 FY24/3 FY25/3
aiming to achieve operating income of 11.5 billion yen in fiscal 27. * For details, please refer to "2025 Medium-Term Management Plan" announced on May 14.
Consolidated
Overview of Profit and Loss by Segment
(Million yen)
Accounting Period（January to March） | Cumulative Period（April to March） | |||||||||
FY24/3 | FY25/3 | YoY change | FY24/3 | FY25/3 | YoY change | Change from forecast | ||||
Net sales | 4Q | 4Q | Amount | % | full year | full year | Amount | % | Amount | % |
Terrestrial and BS broadcasting | 24,269 | 25,352 | 1,082 | 4.5% | 94,773 | 98,696 | 3,923 | 4.1% | 1,880 | 1.9% |
Anime and streaming | 12,827 | 14,065 | 1,237 | 9.6% | 44,534 | 46,923 | 2,388 | 5.4% | 478 | 1.0% |
Shopping and other | 3,631 | 4,105 | 473 | 13.1% | 15,905 | 17,183 | 1,278 | 8.0% | △ 24 | △ 0.1% |
Total consolidated net sales | 38,534 | 41,436 | 2,901 | 7.5% | 148,587 | 155,837 | 7,249 | 4.9% | 2,837 | 1.9% |
Expenses | ||||||||||
Terrestrial and BS broadcasting | 23,006 | 24,537 | 1,531 | 6.7% | 91,098 | 94,627 | 3,528 | 3.9% | 1,119 | 1.2% |
Anime and streaming | 10,688 | 12,540 | 1,852 | 17.3% | 38,572 | 42,672 | 4,099 | 10.6% | 335 | 0.8% |
Shopping and other | 3,652 | 4,061 | 409 | 11.2% | 15,605 | 16,498 | 892 | 5.7% | △ 31 | △ 0.2% |
Total consolidated operating expenses | 35,452 | 39,421 | 3,968 | 11.2% | 139,750 | 148,047 | 8,296 | 5.9% | 2,047 | 1.4% |
Operating income | ||||||||||
Terrestrial and BS broadcasting | 1,262 | 814 | △ 448 | △ 35.5% | 3,675 | 4,069 | 394 | 10.7% | 761 | 23.0% |
Anime and streaming | 2,139 | 1,524 | △ 614 | △ 28.7% | 5,962 | 4,250 | △ 1,711 | △ 28.7% | 142 | 3.5% |
Shopping and other | △ 20 | 44 | 64 | - | 299 | 685 | 385 | 128.5% | 7 | 1.0% |
Total consolidated operating income | 3,082 | 2,014 | △ 1,067 | △ 34.6% | 8,836 | 7,789 | △ 1,047 | △ 11.9% | 789 | 11.3% |
Consolidated ordinary income | 3,135 | 2,013 | △ 1,122 | △ 35.8% | 9,599 | 8,255 | △ 1,344 | △ 14.0% | 855 | 11.6% |
Profit (loss) attributable to owners of parent | 1,582 | 1,654 | 71 | 4.5% | 6,736 | 6,034 | △ 701 | △ 10.4% | 834 | 16.1% |
Consolidated
Overview of Balance Sheets
FY24/3 year-end | FY25/3 year-end | Changes | FY24/3 year-end | FY25/3 year-end | Changes | ||||
Assets | Current assets | 88,758 | 90,436 | 1,677 | Liabilities | Current liabilities | 43,606 | 42,362 | △1,243 |
Non-current assets Property, plant and equipment Intangible assets Investments and other assets | 58,335 24,307 5,651 28,376 | 57,407 22,961 6,476 27,969 | △928 △1,345 825 △407 | Non-current liabilities | 4,219 | 3,580 | △638 | ||
Total liabilities | 47,825 | 45,943 | △1,882 | ||||||
Net assets | Shareholders' equity Valuation and translation adjustments Non-controlling interests | 94,086 4,988 193 | 96,628 5,074 196 | 2,542 86 2 | |||||
Total net assets | 99,268 | 101,900 | 2,631 | ||||||
Total assets | 147,094 | 147,843 | 748 | Total liabilities and net assets | 147,094 | 147,843 | 748 | ||
Consolidated Overview of Balance Sheets (Million yen)
Note: Net assets per share =3,811.59yen
FY24/3 year-end | FY25/3 year-end | Changes | |
Total assets | 21,677 | 22,446 | 768 |
Total liabilities | 3,710 | 3,355 | △ 355 |
Total net assets | 17,967 | 19,091 | 1,124 |
Non-consolidated/TV TOKYO Financial Position (Million yen)
Non-consolidated/BS TV TOKYO Financial Position (Million yen)
Overview of Consolidated Cash Flows (Million yen)
FY24/3 year-end | FY25/3 year-end | Changes | |
Total assets | 83,603 | 82,719 | △ 884 |
Total liabilities | 34,335 | 35,138 | 803 |
Total net assets | 49,268 | 47,580 | △ 1,687 |
FY24/3 full year | FY25/3 full year | |
Operating cash flows | 6,471 | 7,569 |
Investing cash flows | △ 4,706 | △ 2,015 |
Financing cash flows | △ 3,414 | △ 4,055 |
Cash and cash equivalents | 36,153 | 37,680 |
Consolidated
Capital Expenditure/Depreciation
FY25/3 full year results | YoY change | FY26/3 full year forecasts | Comparison with FY25/3 results | |||
Amount | % | Amount | % | |||
Capital expenditure | 3,963 | △1,152 274 | △22.5% 6.9% | 3,383 4,784 | △580 547 | △14.6% 12.9% |
Depreciation | 4,236 | |||||
Consolidated Capital Expenditure/Depreciation (Million yen)
（Million yen） （Million yen）
Main full year results
DX-related investments
Facilities for production of contents
Facilities for streaming and data
1,128 M yen
328 M yen
704 M yen
Main plan for FY25/3
DX-related investments
Facilities for production of contents
Facilities for streaming and data
408 M yen
366 M yen
314 M yen
Non-consolidated
Overview of TV TOKYO Profit and Loss
Non-consolidated
TV TOKYO Broadcasting Businesses
Changes in SPOT Percentage Changes in Share of SPOT Area
（％）
Note: Before settlement of accounts
（％）
Note: Before settlement of accounts
FY23/3
FY24/3
FY25/3
FY23/3
FY24/3
FY25/3
Monthly results of Time and Spot
(Million yen)
2024 | 2025 | |||||||||||
Apr. | May | Jun. | Jul. | Aug. | Sep. | Oct. | Nov. | Dec. | Jan. | Feb. | Mar. | |
TIME | 3,511 | 3,483 | 3,596 | 4,026 | 4,414 | 3,713 | 3,355 | 3,664 | 4,063 | 3,617 | 3,364 | 4,128 |
SPOT | 2,383 | 2,100 | 2,065 | 2,020 | 1,934 | 2,119 | 2,493 | 2,553 | 2,670 | 2,529 | 2,333 | 2,976 |
Total | 5,894 | 5,583 | 5,661 | 6,046 | 6,348 | 5,832 | 5,848 | 6,217 | 6,733 | 6,146 | 5,697 | 7,104 |
Note: Before settlement of accounts
Non-consolidated
TV TOKYO Broadcasting Businesses
4Q of the Fiscal Year Ending March 31, 2025 (Accounting Period: January to March) Ranking by SPOT Business Type
Fiscal Year Ending March 31, 2025 (Cumulative Period: April to March) Ranking by SPOT Business Type
Business type | 4Q composition ratio | Difference from the previous year's composition ratio | YoY change in sales |
Restaurants/services | 14.9% | △1.7pt | △ 0.7% |
Information/telecoms | 11.0% | △0.9pt | 2.4% |
Financial/insurance | 9.3% | △1.1pt | △ 1.6% |
Beverages/luxury foods | 7.8% | △0.0pt | 10.1% |
Real estate/residential facilities | 7.5% | 0.2pt | 12.9% |
Transportation/leisure | 6.5% | △0.7pt | △ 0.0% |
Foods | 6.2% | 1.0pt | 30.9% |
Automobiles/related items | 5.9% | 0.5pt | 20.9% |
Distribution/retail | 5.6% | 1.7pt | 59.1% |
Chemicals/pharmaceuticals | 5.2% | △0.9pt | △ 5.2% |
Household appliances/AV/precision devices | 4.7% | 2.4pt | 128.2% |
Energy/materials/machinery | 3.7% | 2.5pt | 250.1% |
Public sector/associations | 2.6% | △0.6pt | △ 11.0% |
Education/medical services | 2.3% | 0.8pt | 65.3% |
Hobbies/sports | 2.2% | △2.9pt | △ 52.7% |
Fashion/accessories | 1.4% | 0.3pt | 38.5% |
Household furnishings and articles | 1.3% | △0.2pt | △ 1.6% |
Publishing | 1.1% | 0.3pt | 49.0% |
Cosmetics/toiletries | 0.9% | △0.6pt | △ 34.5% |
Business type | Full-year composition ratio | Difference from the previous year's composition ratio | YoY change in sales |
Restaurants/services | 14.2% | △ 1.2pt | △ 1.0% |
Information/telecoms | 11.2% | △ 0.2pt | 5.2% |
Beverages/luxury foods | 9.3% | △ 1.0pt | △ 3.7% |
Financial/insurance | 8.8% | △ 0.7pt | △ 0.4% |
Transportation/leisure | 7.6% | 0.3pt | 11.0% |
Foods | 7.2% | 0.2pt | 10.7% |
Distribution/retail | 6.0% | △ 0.5pt | △ 0.6% |
Chemicals/pharmaceuticals | 6.0% | △ 0.3pt | 2.4% |
Automobiles/related items | 5.7% | 1.6pt | 49.2% |
Household appliances/AV/precision devices | 4.3% | 1.2pt | 49.9% |
Real estate/residential facilities | 4.2% | 0.4pt | 19.3% |
Hobbies/sports | 3.1% | △ 1.5pt | △ 27.3% |
Energy/materials/machinery | 2.6% | 0.9pt | 65.3% |
Cosmetics/toiletries | 2.5% | 0.2pt | 18.6% |
Public sector/associations | 2.1% | △ 0.1pt | 0.3% |
Household furnishings and articles | 1.7% | 0.2pt | 18.6% |
Education/medical services | 1.2% | 0.1pt | 16.0% |
Fashion/accessories | 1.2% | △ 0.1pt | 2.0% |
Publishing | 1.1% | 0.4pt | 64.1% |
Non-consolidated
TV TOKYO Rights Businesses (Anime)
Anime Sales Categories
(Million yen)
Anime Ranking by Title
Regional Category | FY25/3 full year | YoY change | % of total | |
Amount | % | |||
Japan Overseas | 4,049 19,054 | 399 1,733 | 10.9% 10.0% | 17.5% 82.5% |
Anime total | 23,103 | 2,132 | 10.2% | |
Net sales |
① BORUTO |
② NARUTO |
③ YU-GI-OH! |
➃ Pokémon |
⑤ Black Clover |
Note：FY25/3 full-year
Note：FY25/3 full-year
Non-consolidated
TV TOKYO Rights Businesses (Streaming Business)
（Million yen）
* Sales such as packaged sales of DVD, etc., programs sales to BS and CS broadcasting, and box office revenue.
Contents Ranking by Title
Net Sales |
① Drama Premiere 23 『Until I Destroy My Husband's Family』 |
② Thursday Drama 24 『At 25:00, in Akasaka』 |
③ Drama Premiere 23 『95』 |
➃ 『ANO-CHAN NO DEN DEN DENPA』 |
⑤ Thursday Drama 25 『Dinner Blues』 |
Note：FY25/3 full year
Non-consolidated
BS TV TOKYO Broadcasting Businesses
Accounting Period（January to March） | Cumulative Period（April to March） | |||||||
FY24/3 4Q | FY25/3 4Q | YoY change | FY24/3 full year | FY25/3 full year | YoY change | |||
Amount | % | Amount | % | |||||
Net sales | 3,889 | 3,939 | 50 | 1.3% | 15,744 | 15,901 | 156 | 1.0% |
TIME | 2,345 | 2,341 | △ 4 | △ 0.2% | 9,786 | 9,842 | 55 | 0.6% |
SPOT | 1,292 | 1,385 | 93 | 7.2% | 5,064 | 5,295 | 231 | 4.6% |
Others | 251 | 212 | △ 38 | △ 15.5% | 893 | 763 | △ 130 | △ 14.6% |
Operating expenses | 3,384 | 3,402 | 18 | 0.5% | 13,494 | 13,366 | △ 128 | △ 0.9% |
Cost of sales, Program production expenses | 1,407 | 1,425 | 17 | 1.3% | 5,853 | 5,998 | 145 | 2.5% |
Other expenses | 901 | 873 | △ 27 | △ 3.1% | 3,588 | 3,171 | △ 417 | △ 11.6% |
Indirect expenses | 1,074 | 1,103 | 28 | 2.6% | 4,052 | 4,195 | 143 | 3.5% |
Operating income | 505 | 537 | 31 | 6.3% | 2,250 | 2,535 | 285 | 12.7% |
(Million yen)
Consolidated
Shareholder Returns
Dividend policy
The Company recognizes shareholder returns as one of its important management issues and always works on stable and continuous dividend payments based on sharing the fruits of growth with stakeholders in a balanced manner. In addition to stable annual dividend of 20 yen per share as a minimum, the Company aims for dividend payout ratio of 30% on a consolidated basis as dividends linked to business results, and aims to increase this to 35% over the medium- to long-term.
Acquisition of treasury shares
Acquisition of treasury shares will be considered in accordance with laws and regulations specific to the broadcasting industry while taking into consideration tradable
share ratio and other factors.
90yen
(Commemorativ e dividend of
10 yen)
（million yen）
Dividend per share:
40 yen
40yen
60yen
80yen
(Commemorative
dividend of 10 yen)
80yen
90yen
1,130
1,125
48
1,669
683
2,186
929
2,165
972
2,404
1,637
2,401
654
＊
5
FY20／3 | FY21／3 | FY22／3 | FY23／3 | FY24／3 | FY25／3 | FY26／3 Forecast | |
Payout ratio | 43.7％ | 43.9％ | 27.9％ | 32.8％ | 32.2％ | 40.1％ | 38.4% |
Total payout ratio | 43.7％ | 62.6％ | 39.1％ | 46.3％ | 46.6％ | 67.0％ | 45％～50% |
Total payout ratio = (total amount of dividends + total amount of treasury shares acquired)/profit attributable to owners of parent *Treasury shares acquisition limit (announced on February 13, 2025)
The forecast of dividend payout ratio and Total Return Ratio for FY 25 is calculated based on the current full-year business forecast.
© TV TOKYO Holdings Corporation
Acquisition amount: 1.2 billion yen (maximum), number of treasury shares to be acquired: 300,000 shares (maximum),
acquisition period: February 14, 2025 to July 31, 2025 12
Consolidated
Full-Year Financial Results Forecasts
for the Fiscal Year Ending March 31, 2026
(Million yen)
FY25/3
results
98,696
46,923
17,183
155,837
YoY change
Amount
3,923
2,388
1,278
7,249
FY26/3
forecasts
98,914
48,211
17,672
157,000
Comparison with FY25/3 results
Net sales
%
Amount
%
Terrestrial and BS broadcasting
Anime and streaming
Shopping and other
Total consolidated net sales
4.1%
5.4%
8.0%
4.9%
217
1,287
488
1,162
0.2%
2.7%
2.8%
0.7%
Terrestrial and BS broadcasting
Anime and streaming
Shopping and other Total consolidated operating expenses
94,627 | 3,528 | 3.9% | 95,333 | 706 | 0.7% | |
42,672 | 4,099 | 10.6% | 43,364 | 691 | 1.6% | |
16,498 | 892 | 5.7% | 16,922 | 423 | 2.6% | |
148,047 | 8,296 | 5.9% | 149,000 | 952 | 0.6% |
Expenses
Terrestrial and BS broadcasting
Anime and streaming
Shopping and other Total consolidated operating income Consolidated ordinary income
Profit (loss) attributable to owners of parent
4,069 | 394 | 10.7% | 3,580 | △ 488 | △ 12.0% | |
4,250 | △ 1,711 | △ 28.7% | 4,846 | 595 | 14.0% | |
685 | 385 | 128.5% | 749 | 64 | 9.4% | |
7,789 | △ 1,047 | △ 11.9% | 8,000 | 210 | 2.7% | |
8,255 | △ 1,344 | △ 14.0% | 8,400 | 144 | 1.8% | |
6,034 | △ 701 | △ 10.4% | 6,300 | 265 | 4.4% |
Operating income
Note: Explanation of the proper use of financial results forecast and other notes
The financial results forecast and other forward-looking statements in this material are based on information that is currently available to the Company and certain assumptions that are deemed reasonable by the company.
A range of factors including trends in economic activity could cause actual business results to differ significantly.
Non-consolidated
TV TOKYO Full-Year Financial Results Forecasts for the Fiscal Year Ending March 31, 2026
FY25/3 results | YoY change | FY26/3 forecasts | Comparison with FY25/3 results | |||
Amount | % | Amount | % | |||
Net sales | 115,836 | 5,498 | 5.0% | 119,915 | 4,079 | 3.5% |
Operating expenses | 110,147 | 6,305 | 6.1% | 114,196 | 4,048 | 3.7% |
Operating income | 5,688 | △ 807 | △ 12.4% | 5,719 | 30 | 0.5% |
Ordinary income Profit before income taxes | 7,003 7,208 | △ 1,469 △ 2,323 | △ 17.3% △ 24.4% | 6,830 6,830 | △ 172 △ 377 | △ 2.5% △ 5.2% |
Overview of rights businesses
Broadcasting businesses | TIME（T） | 44,924 | 1,708 | 4.0% | 44,370 | △ 554 | △ | 1.2% | ||
sales (main items) | SPOT（S） | 28,158 | 1,868 | 7.1% | 28,930 | 771 | 2.7% | |||
T+S total | 73,083 | 3,577 | 5.1% | 73,300 | 216 | 0.3% | ||||
Program sales | 4,279 | △ 69 | △ | 1.6% | 4,280 | 1 | 0.0% | |||
Broadcasting businesses total sales | 78,973 | 2,877 | 3.8% | 79,291 | 318 | 0.4% | ||||
Broadcasting businesses expenses | 62,102 | 2,449 | 4.1% | 62,242 | 139 | 0.2% | ||||
Of which, broadcasting contents production expenses | 34,394 | 1,631 | 5.0% | 34,150 | △ 244 | △ 0.7% | ||||
Broadcasting businesses income | 16,871 | 427 | 2.6% | 17,049 | 178 | 1.1% | ||||
Overview of broadcasting businesses
Rights businesses sales | Anime | 23,103 | 2,132 | 10.2% | 23,409 | 305 | 1.3% | ||
Streaming business | 11,759 | 241 | 2.1% | 14,938 | 3,179 | 27.0% | |||
Events | 1,536 | △ 216 | △ | 12.3% | 1,676 | 139 | 9.1% | ||
Rights businesses total sales | 36,398 | 2,157 | 6.3% | 40,023 | 3,624 | 10.0% | |||
Rights businesses expenses | 22,070 | 3,215 | 17.1% | 24,766 | 2,695 | 12.2% | |||
Rights businesses income | 14,328 | △ 1,058 | △ 6.9% | 15,257 | 928 | 6.5% | |||
Note: Explanation of the proper use of financial results forecast and other notes
The financial results forecast and other forward-looking statements in this material are based on information that is currently available to the Company and certain assumptions that are deemed reasonable by the company. A range of factors including trends in economic activity could cause actual business results to differ significantly.
Expenses related to contents production for terrestrial broadcasting, which were previously presented as "program production expenses" are presented as "broadcasting contents production expenses.
Supplementary Material
Consolidated
Overview of Business Segments
Segments | Operating Companies | Business Category | Main Business Operations | |
Terrestrial and BS broadcasting businesses | TV TOKYO Corporation | Broadcasting businesses | Broadcasting revenue through terrestrial broadcasting, sale of broadcast programs to other broadcasters | |
BS TV TOKYO Corporation | Broadcasting revenue through BS broadcasting, sale of broadcast programs to other broadcasters | |||
TV TOKYO Medianet, Inc. and five other companies | Businesses that supplement broadcasting itself, such as program sales in Japan, program production, and broadcasting operations | |||
Anime and streaming businesses | TV TOKYO Corporation | Rights businesses | Anime | Business revenue using peripheral rights for anime broadcast programs |
Streaming business | Business revenue using peripheral rights for non- anime broadcast programs | |||
Box-office revenue through investment in movies, and business revenue by using peripheral rights | ||||
Events | Box-office revenue by organizing events, etc. | |||
TV TOKYO Music Corporation AT-X Corporation | Music publishing business, paid CS broadcasting channel business | |||
TV TOKYO Communications Corporation | Development, operations, and advertising businesses of digital media such as video streaming | |||
Shopping and other businesses | TV TOKYO Direct, Inc. and three other companies | TV shopping, e-commerce business, services within the Group, etc. | ||
* In line with the current profit structure, from the fiscal year ending March 31, 2024, there are three segments: "terrestrial and BS broadcasting businesses," "anime and streaming businesses," and "shopping and other businesses."
Non-consolidated
TV TOKYO Broadcasting Businesses
Individual Viewing Rates Results for FY25/3
Changes in Individual Viewing Rates （％）
All TV stations | TX Viewing rate | TX Share of total | NTV | TV Asahi | TBS | Fuji Television | NHK | Others | |
Golden Hours | 30.6 | 3.0 | 10.0 | 5.3 | 5.3 | 4.4 | 3.5 | 5.0 | 3.5 |
19:00-22:00 | -0.5 | -0.1 | ±0 | -0.3 | ±0 | +0.2 | -0.1 | ±0 | -0.4 |
All day | 18.6 | 1.2 | 6.3 | 3.4 | 3.5 | 2.8 | 2.2 | 2.8 | 2.1 |
06:00-24:00 | -0.2 | ±0 | -0.1 | -0.1 | ±0 | +0.1 | -0.1 | -0.1 | -0.2 |
Prime Time | 28.5 | 2.6 | 9.3 | 5.0 | 5.3 | 4.2 | 3.4 | 4.3 | 3.1 |
19:00-23:00 | -0.6 | -0.1 | ±0 | -0.2 | ±0 | +0.1 | -0.1 | ±0 | -0.4 |
Upper figures: Viewing rates (%) Lower figures: YoY change (% points)
（Surveyed by Video Research Ltd.; Kanto region)
Share of total: Percentage of the total viewing rate for all TV stations accounted for by the Company
FY23/3 FY24/3 FY25/3
お問い合せ
InquiriesPublic & Investor Relations Department, Corporate Strategy Division ir@txhd.co.jp
この資料に記載されている経営方針、計画、見通しなどは、過去の事実を除いて将来の予測であり、実際の業績等は今後の様々な要因によって変動する場合があります。
These materials are an English translation of the original document in Japanese. Forward-looking statements on future results and all other content in this document are based on the Company's judgment at the time of publication. This document does not assure or guarantee that the stated numerical plans and measures will be achieved.