Q2 FY2024 Financial Results Materials1.2MB

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

Supplementary Material for Second Quarter Financial Results for the Fiscal Year Ending March 31, 2025

November 7, 2024

Securities code: 9413

TV TOKYO Holdings Corporation Summary of FY25/3 1H

＜Revenue from broadcasting business recovered. Consolidated net sales increased by 4.0%, posting a new record high, while operating profit decreased by 27.1% due to higher costs＞

・TV TOKYO's broadcasting revenue (non-consolidated) increased for both time-slot revenue and spot revenue. Despite the burden of expenses associated with the Paris Olympics, we achieved broadcasting businesses profit on par with that of the previous year.

・Net sales of anime and streaming businesses posted a new record high for 1H. Anime saw increased costs due to up-front investment expenses toward increasing revenues in the future. Rights businesses profit, which is a sum of that from anime, streaming business and events, decreased by 16.3%.

＜Downward revision in the full-year financial results forecast. Operating profit will be 7.0 billion yen＞

Anime

71.92

Net sales of anime and streaming businesses (semi-annual period)

Streaming businesses

100.69 100.72

80.35

（Billion yen）

103.41

・Revenue forecast of rights businesses was lowered following the deferral of business development due to delays in signing contracts of new anime titles, as well as increased costs in contents production. We revised the forecast of consolidated operating profit downward to 7.0 billion yen from 9.0 billion yen.

・Consolidated net sales will post a new record high, despite a downward revision from 155.0 billion yen to 153.0 billion yen.

＜Shareholder returns＞

・In FY25/3, we repurchased 300,000 shares of our own stock by October, resulting in a record-high purchase amount of 1.09 billion yen.

	30.12		46.18		48.94	50.13
18.88



FY21	FY22	FY23	FY24	FY25
Consolidated operating profit (full-year)
	85.84	92.29	88.36	（Billion yen）
						70.00

51.28 52.28

FY20 FY21 FY22 FY23 FY24 FY25

（Revised forecast）

Consolidated Overview of Profit and Loss by Segment

									(Million yen)
		Accounting Period（July to September）	Cumulative Period（(April to September）
		FY24/3	FY25/3	YoY change	FY24/3	FY25/3	YoY change
Net sales		2Q	2Q	Amount	%	2Q	2Q	Amount	%
Terrestrial and BS broadcasting	22,700	24,379	1,679	7.4%	45,718	47,612	1,893	4.1%
Anime and streaming	10,765	11,013	248	2.3%	20,383	20,975	592	2.9%
Shopping and other	4,057	4,230	173	4.3%	7,818	8,186	367	4.7%
Total consolidated net sales

36,029	38,010	1,981	5.5%	70,957	73,781	2,824	4.0%
Expenses


Terrestrial and BS broadcasting	22,295	24,206	1,910	8.6%	45,137	46,625	1,487	3.3%
Anime and streaming	9,389	10,240	850	9.1%	17,858	19,757	1,898	10.6%
Shopping and other	3,885	4,025	139	3.6%	7,654	7,825	171	2.2%
Total consolidated operating expenses

34,367	37,149	2,782	8.1%	68,210	71,778	3,567	5.2%
Operating income


Terrestrial and BS broadcasting	404	173	△ 230	△ 57.0%	581	987	406	69.9%
Anime and streaming	1,376	773	△ 602	△ 43.8%	2,524	1,217	△ 1,306	△ 51.7%
Shopping and other	171	205	33	19.6%	164	360	196	119.3%
Total consolidated operating income

1,661	860	△ 800	△ 48.2%	2,747	2,003	△ 743	△ 27.1%
Consolidated ordinary income	1,730	813	△ 916	△ 53.0%	3,304	2,182	△ 1,121	△ 33.9%
Profit (loss) attributable to owners of parent	1,101	794	△ 306	△ 27.9%	2,982	1,690	△ 1,291	△ 43.3%

Consolidated Overview of Balance Sheets

Consolidated Overview of
	Current assets
	Non-current assets
	Property, plant and equipment
Assets	Intangible assets
Investments and other assets
	Total assets

Balance Sheets
FY24/3	FY25/3	Changes
year-end	2Q-end

88,758	83,247	△5,511
58,335	57,313	△1,021
24,307	23,443	△864
5,651	6,087	436
28,376	27,782	△593

147,094 140,561

△6,533

Net assets Liabilities

			(Million yen)
	FY24/3	FY25/3	Changes
	year-end	2Q-end

Current liabilities	43,606	38,150	△5,455
Non-current liabilities	4,219	3,928	△291
Total liabilities	47,825	42,079	△5,746
Shareholders' equity	94,086	93,342	△743
Valuation and translation adjustments	4,988	4,952	△35
Non-controlling interests	193	187	△6
Total net assets	99,268	98,482	△786
Total liabilities and net assets	147,094	140,561	△6,533
Note: Net assets per share =3,658.18yen

Non-consolidated/TV TOKYO Financial Position	(Million yen)
	FY24/3	FY25/3	Changes
	year-end	2Q-end

Total assets	83,603	81,428	△ 2,175
Total liabilities	34,335	37,158	2,822
Total net assets	49,268	44,270	△ 4,998

Non-consolidated/BS TV TOKYO Financial Position	(Million yen)
	FY24/3	FY25/3	Changes
	year-end	2Q-end

Total assets	21,677	21,388	△ 288
Total liabilities	3,710	3,256	△ 454
Total net assets	17,967	18,132	165

Overview of Consolidated Cash Flows	(Million yen)
	FY24/3	FY25/3
	1H	1H
Operating cash flows	△ 473	1,963
Investing cash flows	△ 1,325	△ 2,571
Financing cash flows	△ 2,847	△ 2,836
Cash and cash equivalents	33,161	32,741

Consolidated Capital Expenditure/Depreciation

(Million yen)

FY25/3 2Q		YoY change	FY25/3	Comparison with FY24/3 results
(April to September)	Amount	%	full year forecasts	Amount	%

Capital expenditure Depreciation

1,709	△614	△26.4%	4,323	△792	△15.5%
2,000	△37	△1.8%	4,107	145	3.7%

Changes in Capital Expenditure

Main results for 1H

（Million yen）

	DX-related investments		606	M yen
7,000	Facilities for production of contents	522	M yen			7,000
	Facilities for streaming and data	253	M yen
6,000	Main plans for 2H				5,115		6,000
	DX-related investments		101	M yen
5,000	Facilities for production of contents	852	M yen		(4,323 )	5,000
	Facilities for streaming and data	281	M yen

4,000				3,391			4,000
3,000	2,798							3,000
		2,112
		1,660				1,709
2,000						2,000

1,000								1,000
-								-
	FY20/3	FY21/3	FY22/3	FY23/3	FY24/3	FY25/3
							Results for 1H /
							Plans for 2H

Changes in Depreciation

（Million yen）

4,201	4,331	4,136	4,105	3,961	(4,107 )

					2,000
FY20/3	FY21/3	FY22/3	FY23/3	FY24/3	FY25/3
					Results for 1H /
					Plans for 2H

Non-consolidated		Overview of TV TOKYO Profit and Loss
											(Million yen)


				Accounting Period（July to September）	Cumulative Period（(April to September）
				FY24/3	FY25/3	YoY change	FY24/3	FY25/3	YoY change
				2Q	2Q	Amount	%	2Q	2Q	Amount	%

	Net sales		26,414	28,134	1,720	6.5%	51,997	54,459	2,461	4.7%
	Operating expenses		25,414	27,962	2,548	10.0%	50,501	53,702	3,200	6.3%
			Operating income	999	171	△ 828	△ 82.8%	1,496	756	△ 739	△ 49.4%
			Ordinary income	1,058	130	△ 928	△ 87.7%	3,431	1,980	△ 1,451	△ 42.3%
			Profit before income taxes	1,058	129	△ 928	△ 87.7%	4,491	1,979	△ 2,511	△ 55.9%
	Overview of broadcasting businesses

	Broadcasting businesses	TIME（T）	10,725	12,151	1,425	13.3%	21,234	22,737	1,503	7.1%
	sales (main items)	SPOT（S）	5,854	6,112	258	4.4%	12,053	12,694	641	5.3%
			T+S total	16,580	18,264	1,684	10.2%	33,287	35,432	2,144	6.4%
			Program sales	1,065	1,039	△ 26	△ 2.5%	2,135	2,088	△ 47	△ 2.2%
	Broadcasting businesses total sales	18,231	19,731	1,499	8.2%	36,633	38,454	1,821	5.0%
	Broadcasting businesses expenses	14,602	16,701	2,098	14.4%	29,556	31,406	1,850	6.3%
	Of which, broadcasting contents production expenses	8,186	9,931	1,745	21.3%	16,524	17,917	1,393	8.4%
			Broadcasting businesses income	3,629	3,029	△ 599	△ 16.5%	7,076	7,047	△ 29	△ 0.4%
	Overview of rights businesses
	Rights businesses sales	Anime	5,332	5,170	△ 161	△ 3.0%	10,072	10,341	268	2.7%
			Streaming business	2,702	2,931	228	8.5%	4,894	5,013	119	2.4%
			Events	147	189	42	28.8%	397	420	23	5.8%
			Rights businesses total sales	8,182	8,292	109	1.3%	15,364	15,775	410	2.7%
	Rights businesses expenses	4,427	5,161	733	16.6%	8,133	9,718	1,585	19.5%
			Rights businesses income	3,754	3,131	△ 623	△ 16.6%	7,231	6,056	△ 1,175	△ 16.3%
	《Contents production expenses》

				FY19/3 1H	FY20/3 1H	FY21/3 1H	FY22/3 1H	FY23/3 1H	FY24/3 1H	FY25/3 1H
	Total contents production expenses	24,434	24,733	20,039	22,179	24,092	23,746	24,379
	(broadcasting, anime, and streaming)

Expenses related to contents production for terrestrial broadcasting, which were previously presented as "program production expenses" are presented as "broadcasting contents production expenses".
In addition, expenses for TV TOKYO's contents production, including investment in the production committee for anime and streaming businesses, are presented as

"Total contents production expenses." Expenses related to the Olympic Games and FIFA World Cup are not included in "Total contents production expenses."

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

10.0								Area
							TX	6.8

5.0								5.8
2.5
								5.0

0.0							-1.8
1.7
							-0.1
		-5.9	-5.5			-4.7

-5.0
			-7.5
				-9.8		-5.1
		-6.1	-5.9

-10.0				-7.9

-15.0				-12.3	-10.9
2Q	3Q	4Q	1Q	2Q	3Q	4Q	1Q	2Q

		FY23/3		FY24/3		FY25/3

8.00
7.50	7.31
	7.19	7.17		7.22
						7.10
						6.95	6.93	6.99
7.00


6.50					6.60

6.00
	2Q	3Q	4Q	1Q	2Q	3Q	4Q	1Q	2Q
		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							4,026
		3,483		3,596				4,414		3,713

	SPOT	2,383		2,100		2,065			2,020		1,934	2,119

	Total	5,894		5,583		5,661			6,046		6,348	5,832

Note: Before settlement of accounts

Non-consolidated TV TOKYO Broadcasting Businesses

2Q of the Fiscal Year Ending March 31, 2025

(Accounting Period: July to September)

Ranking by SPOT Business Type

	2Q		Difference from		YoY
Business type	composition		the previous year's		change
	ratio		composition ratio		in sales
Restaurants/services	14.6%		△0.5pt
		1.2%

Information/telecoms	11.2%		△4.0pt		△ 22.5%

Beverages/luxury foods	9.9%		0.3pt		8.8%

Financial/insurance	9.8%		△0.6pt		△ 1.2%

Transportation/leisure	8.0%		0.1pt		6.4%

Foods	6.7%		△0.1pt		2.8%

Distribution/retail	5.9%		△1.7pt		△ 17.9%

Chemicals/pharmaceuticals	5.9%		0.8pt		20.7%

Automobiles/related items	5.2%		1.8pt		60.6%

Real estate/residential facilities	4.5%		0.3pt	12.3%
Household appliances/AV/precision devices	3.9%		1.0pt		43.5%

Hobbies/sports	3.5%		△0.4pt		△ 5.8%

Cosmetics/toiletries	2.8%		0.9pt		53.0%

Energy/materials/machinery	2.4%		0.9pt		67.1%

Public sector/associations	2.4%		1.4pt		154.4%

Publishing	1.2%		0.1pt		18.7%

Household furnishings and articles	0.9%		△0.3pt		△ 20.1%

Education/medical services	0.8%		△0.1pt		△ 9.8%

Fashion/accessories	0.5%		0.1pt		33.5%

1H of the Fiscal Year Ending March 31, 2025

(Cumulative Period: April to September)

Ranking by SPOT Business Type

	1H	Difference from			YoY
Business type	composition	the previous year's			change
	ratio	composition ratio			in sales
Restaurants/services	13.7%	△ 1.0pt
		△ 1.7%

Beverages/luxury foods	11.2%	△ 0.2pt		3.6%

Information/telecoms	10.3%	△ 2.0pt			△ 11.9%

Financial/insurance	9.6%	△ 0.4pt		1.4%

Transportation/leisure	8.3%	0.6pt		13.9%

Foods	7.7%	0.3pt		9.5%

Chemicals/pharmaceuticals	6.3%	0.7pt		18.6%

Distribution/retail	6.3%	△ 1.6pt			△ 15.6%

Automobiles/related items	5.1%	1.9pt		65.8%

Hobbies/sports	4.0%	△ 0.9pt	△ 13.2%
Household appliances/AV/precision devices	3.6%	0.2pt		12.2%

Real estate/residential facilities	3.5%	0.6pt		25.9%

Cosmetics/toiletries	3.2%	0.9pt		47.0%

Energy/materials/machinery	2.0%	0.6pt			49.2%

Household furnishings and articles	1.7%	0.4pt			37.4%

Public sector/associations	1.5%	0.2pt			24.6%

Education/medical services	0.7%	△ 0.3pt			△ 25.1%

Publishing	0.7%	0.0pt			5.8%

Fashion/accessories	0.6%	△ 0.1pt			△ 7.0%

Non-consolidated TV TOKYO Rights Businesses (Anime)

Anime First Half-Year Sales Categories

				(Million yen)

Regional	FY25/3	YoY change	% of total
Category	1H	Amount	%

Japan	2,295	323	16.4%	22.2%
Overseas	8,046	△ 55	△ 0.7%	77.8%

Anime total	10,341	268	2.7%

Anime Net Sales by Overseas Area

Asia and

Middle

East, etc.,

12.6%

Europe, 9.5% Japan, 22.2%

North

China, 29.3% America,

26.4%

Anime First Half-Year Ranking by Title

Net sales

NARUTO
② BORUTO
③ YU-GI-OH!
④ Pokémon
⑤ BLACK CLOVER

Note: 1H of FY25/3

Note： 1H of FY25/3

Non-consolidated TV TOKYO Rights Businesses (Streaming Business)

			Streaming Business Net Sales by Category
7,000							（Million yen）

6,000					1,770

5,000			1,396			1,101
4,000	1,019		904

3,000					4,590
2,000			4,114	3,732	3,571
3,398

1,000	201		293	258	263	342
0

FY23/3	FY24/3			FY25/3

			1H	2H	1H	2H		1H
		Japan: DVD, etc.*		Japan: Streaming (SVOD, AVOD)		Overseas

Contents First Half-Year Ranking by Title

Net Sales

Drama Premiere 23 『Until I destroyed my husband's other family』

Drama 8 『Not My Business, After All』

Drama Premiere 23 『95』

Drama 24 『What Did You Eat Yesterday? Season 2』

Drama 24 『Plastic Model and RIKO3』

Note: 1H of FY25/3

Sales such as packaged sales of DVD, etc., programs sales to BS and CS broadcasting, and box office revenue.