Q2 FY2024 Consolidated Earnings Report305KB

Nov 26, 2024 at 8:41 AM UTC · Issued by Tv Tokyo Holdings Corporation

Disclaimer: This document is an English translation of the original document in Japanese and has been prepared solely for reference purposes. In the event of any discrepancy between this English translation and the original in Japanese, the original shall prevail in all respects.

Consolidated Financial Results

for the Six Months Ended September 30, 2024

[Japanese GAAP]

November 7, 2024

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

Contact: Koichi Komaru, General Manager, Finance Division

Phone: +81-3-6635-1771

Scheduled date of filing semi-annual securities report: November 14, 2024

Scheduled date of commencing dividend payments: December 4, 2024

Preparation of supplementary material on financial results: Yes

Holding of financial results briefing: Yes (for analysts and institutional investors and for the press)

(Amounts of less than one million yen are rounded down.)

1. Consolidated Financial Results for the Six Months Ended September 30, 2024 (April 1, 2024 - September 30,

2024)
(1) Consolidated Operating Results			(% indicates changes from the previous corresponding period.)
			Net sales		Operating profit			Ordinary profit		Profit attributable to
							owners of parent

	Six months ended	Million yen	%		Million yen	%			Million yen	%		Million yen	%
	September 30, 2024	73,781	4.0		2,003	(27.1)			2,182	(33.9)	1,690	(43.3)
	September 30, 2023	70,957	(0.5)		2,747	(42.0)			3,304	(33.1)	2,982	(9.4)
(Note) Comprehensive income: Six months ended September 30, 2024: ¥1,647 million [(44.9)%]
			Six months ended September 30, 2023: ¥2,992 million [20.9%]
		Basic earnings		Diluted earnings
			per share			per share
	Six months ended			Yen				Yen
	September 30, 2024			62.62				-
	September 30, 2023			109.77				-
(2) Consolidated Financial Position
			Total assets		Net assets	Equity ratio

				Million yen			Million yen		%
	As of September 30, 2024	140,561			98,482		69.9
	As of March 31, 2024		147,094			99,268		67.4

(Reference) Equity: As of September 30, 2024: ¥98,295 million As of March 31, 2024: ¥99,074 million

2. Dividends

			Annual dividends

	1st quarter-end	2nd quarter-end		3rd quarter-end	Year-end	Total

	Yen	Yen		Yen	Yen	Yen
Fiscal year ended	-	15.00		-	65.00	80.00
March 31, 2024

Fiscal year ending	-	15.00
March 31, 2025

Fiscal year ending
March 31, 2025				-	65.00	80.00
(Forecast)

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

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2025 (April 1, 2024 - March 31, 2025)

(% indicates changes from the previous corresponding period.)

							Profit attributable	Basic earnings
	Net sales		Operating profit	Ordinary profit	to owners of
		per share
							parent

	Million yen	%	Million yen	%	Million yen	%	Million yen	%	Yen
Full year	153,000	3.0	7,000	(20.8)	7,400	(22.9)	5,200	(22.8)	193.09
(Note) Revision to the financial results forecast announced most recently: Yes

* Notes:

Significant changes in the scope of consolidation during the period: None

Newly included: - (Company name:)

Excluded: - (Company name:)

Accounting methods adopted particularly for the preparation of semi-annual consolidated financial statements: None
Changes in accounting policies, changes in accounting estimates and retrospective restatement
1. Changes in accounting policies due to the revision of accounting standards: Yes
2. Changes in accounting policies other than 1) above: None
3. Changes in accounting estimates: None
4. Retrospective restatement: None
Total number of issued shares (common shares)
1. Total number of issued shares at the end of the period (including treasury shares):

September 30, 2024:	27,579,500 shares
March 31, 2024:	27,579,500 shares
2) Total number of treasury shares at the end of the period:
September 30, 2024:	709,643 shares
March 31, 2024:	520,861 shares
3) Average number of shares during the period:
Six months ended September 30, 2024:	26,989,552 shares
Six months ended September 30, 2023:	27,166,802 shares

This semi-annual financial results report is outside the scope of review by certified public accountants or an audit firm.
Explanation of the proper use of financial results forecast and other notes

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.

Semi-annual Consolidated Financial Statements

(1) Semi-annual Consolidated Balance Sheets

			(Million yen)
		As of March 31, 2024	As of September 30, 2024

Assets
Current assets
Cash and deposits		40,199	38,794
Notes and accounts receivable - trade	32,727	32,437
Money held in trust		402	407
Programs and films	9,906	8,686
Merchandise		745	914
Supplies	13	14
Income taxes refund receivable		2,135	23
Other	2,632	1,973
Allowance for doubtful accounts		(4)	(5)
Total current assets	88,758	83,247
Non-current assets
Property, plant and equipment

Buildings and structures, net		9,698	9,331
Machinery, equipment and vehicles, net	8,802	8,183
Other, net		5,806	5,928
Total property, plant and equipment	24,307	23,443
Intangible assets
Software	5,634	6,071
Other		16	16
Total intangible assets	5,651	6,087
Investments and other assets
Investment securities	21,080	20,526
Other		7,314	7,258
Allowance for doubtful accounts	(18)	(2)
Total investments and other assets		28,376	27,782
Total non-current assets	58,335	57,313
Total assets		147,094	140,561
Liabilities
Current liabilities
Notes and accounts payable - trade	5,536	4,818
Short-term borrowings		5,100	5,100
Current portion of long-term borrowings	165	78
Accrued expenses		21,235	21,140
Provision for bonuses	2,156	2,113
Income taxes payable		2,262	833
Other	7,149	4,066
Total current liabilities		43,606	38,150
Non-current liabilities
Long-term borrowings		451	451
Provision for retirement benefits for directors (and	38	28
other officers)

Retirement benefit liability		1,710	1,661
Other	2,019	1,787
Total non-current liabilities		4,219	3,928
Total liabilities		47,825	42,079

			(Million yen)
		As of March 31, 2024	As of September 30, 2024

Net assets
Shareholders' equity
Share capital		10,000	10,000
Capital surplus	18,267	18,342
Retained earnings		67,149	67,081
Treasury shares	(1,330)	(2,081)
Total shareholders' equity		94,086	93,342
Accumulated other comprehensive income
Valuation difference on available-for-sale securities		4,935	4,861
Foreign currency translation adjustment	70	103
Remeasurements of defined benefit plans		(17)	(12)
Total accumulated other comprehensive income	4,988	4,952
Non-controlling interests		193	187
Total net assets	99,268	98,482
Total liabilities and net assets		147,094	140,561

Semi-annualConsolidated Statements of Income and Comprehensive Income
Semi-annual Consolidated Statements of Income

			(Million yen)

		For the six months ended	For the six months ended
		September 30, 2023	September 30, 2024
Net sales		70,957	73,781
Cost of sales	50,619	52,855
Gross profit		20,338	20,926
Selling, general and administrative expenses

Personnel expenses

Provision for bonuses

Provision for bonuses for directors (and other officers)

Retirement benefit expenses

Provision for retirement benefits for directors (and other officers)

4,452		4,568
712	714
－		5
215	238

14		10

Agent fees	8,044	8,274
Rent expenses		599	963
Depreciation	346	424
Other		3,205	3,722
Total selling, general and administrative expenses	17,591	18,922
Operating profit		2,747	2,003
Non-operating income

Interest income

Dividend income

Foreign exchange gains

Share of profit of entities accounted for using equity method

1		4
422	159
52		－
107	13

Rental income		25	25
Other	26	75
Total non-operating income		636	278
Non-operating expenses

Interest expenses		12	17
Foreign exchange losses		－	56
Loss on investments in investment partnerships		31	7
Loss on investments in money held in trust	11	－
Other		24	19
Total non-operating expenses	79	99
Ordinary profit		3,304	2,182
Extraordinary income

Gain on sale of non-current assets		2	－
Gain on sale of investment securities	1,150	215
Other		2	－
Total extraordinary income	1,155	215
Extraordinary losses
Loss on retirement of non-current assets	42	1
Loss on sale of investment securities		－	19
Loss on revision of retirement benefit plan	32	－
Total extraordinary losses		75	20
Profit before income taxes	4,384	2,376
Income taxes - current		1,278	563
Income taxes - deferred	108	129
Total income taxes		1,387	693
Profit	2,997	1,683
Profit (loss) attributable to non-controlling interests		14	(6)
Profit attributable to owners of parent		2,982	1,690

Semi-annual Consolidated Statements of Comprehensive Income

		(Million yen)

	For the six months ended	For the six months ended
	September 30, 2023	September 30, 2024

Profit	2,997	1,683
Other comprehensive income

Valuation difference on available-for-sale securities

Foreign currency translation adjustment

Remeasurements of defined benefit plans, net of tax

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

(51)		(69)
19	33
5		5
21	(4)

Total other comprehensive income		(4)	(36)
Comprehensive income	2,992	1,647
Comprehensive income attributable to
Comprehensive income attributable to owners of parent	2,985	1,654
Comprehensive income attributable to non-controlling		6	(6)
interests

(3) Semi-annual Consolidated Statements of Cash Flows

				(Million yen)

		For the six months ended		For the six months ended
		September 30, 2023		September 30, 2024

Cash flows from operating activities
Profit before income taxes	4,384	2,376
Depreciation		2,038		2,000
Amortization of goodwill	25		－
Increase (decrease) in provision for bonuses		(242)		(42)
Increase (decrease) in provision for bonuses for directors	(184)	(156)
(and other officers)

Increase (decrease) in provision for retirement benefits for		(22)		(9)
directors (and other officers)

Increase (decrease) in retirement benefit liability	(298)	(43)
Increase (decrease) in allowance for doubtful accounts		0		(15)
Interest and dividend income	(424)	(164)
Interest expenses		12		17
Loss (gain) on sale of non-current assets	(2)		－
Loss on retirement of non-current assets		42		1
Loss (gain) on sale of investment securities	(1,150)	(193)
Share of loss (profit) of entities accounted for using equity		(107)		(13)
method

Decrease (increase) in trade receivables	391	290
Decrease (increase) in inventories		(824)		1,049
Increase (decrease) in trade payables	(961)	(718)
Increase (decrease) in accrued expenses		(2,191)		(94)
Increase (decrease) in contract liabilities	123	311
Increase (decrease) in advances received		(47)		40
Other, net	(344)	(859)
Subtotal		218		3,776
Interest and dividends received	424	167
Interest paid		(12)		(17)
Income taxes paid	(1,103)	(1,962)
Net cash provided by (used in) operating activities		(473)		1,963
Cash flows from investing activities
Payments into time deposits		(4,047)		(7,552)
Proceeds from withdrawal of time deposits	4,000	5,546
Purchase of property, plant and equipment		(320)		(414)
Purchase of intangible assets	(1,690)	(895)
Purchase of investment securities		(1,339)		(280)
Proceeds from sale of investment securities	1,983	868
Proceeds from collection of loans receivable		16		0
Other, net	73	156
Net cash provided by (used in) investing activities		(1,325)		(2,571)
Cash flows from financing activities
Repayments of lease liabilities		(64)		(8)
Repayments of long-term borrowings	(228)	(86)
Proceeds from long-term borrowings		100		－
Purchase of treasury shares	(882)	(982)
Dividends paid		(1,772)		(1,759)
Net cash provided by (used in) financing activities	(2,847)	(2,836)
Effect of exchange rate change on cash and cash equivalents		19		33
Net increase (decrease) in cash and cash equivalents	(4,626)	(3,411)
Cash and cash equivalents at beginning of period		37,787		36,153
Cash and cash equivalents at end of period		33,161	32,741