Nippon Television (9404) Q2 2025 earnings summary

Executive summary

• Net sales for 2Q FY2024 rose 10.6% year-over-year to JPY 216.9 billion, with operating profit up 25.9% to JPY 21.1 billion and net income attributable to owners up 16.5% to JPY 16.0 billion.

• Achieved higher sales and profit driven by ad recovery, international content, and group companies like Studio Ghibli and ACM.

• Comprehensive income increased 28.9% year-over-year to JPY 47.9 billion for the six months ended September 30, 2024.

• Recorded a gain of JPY 4.3 billion from the sale of cross-shareholdings in 1H FY2024.

• Stock repurchase of 3.2 million shares (JPY 7.0 billion) completed between February and May 2024.

Financial highlights

• Gross profit for 2Q FY2024 was JPY 72.9 billion, up from JPY 62.3 billion year-over-year; operating profit margin improved.

• Ordinary profit reached JPY 24.3 billion, up from JPY 20.8 billion in the prior year period.

• EPS for 2Q FY2024 was JPY 63.65, compared to JPY 53.75 last year.

• Nippon TV segment net sales up 1.8% YoY to JPY 138.7 billion; net income up 31.8% to JPY 12.0 billion.

• Digital ad sales grew 37.7% YoY; spot ad sales up 2.7% YoY.

Outlook and guidance

• FY2024 full-year forecast unchanged: net sales JPY 442.0 billion (+4.4%), operating profit JPY 42.0 billion (+0.3%), net income JPY 35.0 billion (+1.0%).

• Dividend forecast maintained at JPY 40 per share (interim JPY 10, year-end JPY 30).

• Full-year EPS forecast at JPY 138.91.