Nippon Television (9404) Q2 2026 earnings summary

Executive summary

• Achieved record-high midterm sales for the second consecutive period, with net sales for 2Q FY2025 rising 8.1% YoY to ¥234.5B, driven by strong advertising, event revenues, and digital growth.

• Operating profit increased 57.1% to ¥33.2B, and net income attributable to owners rose 65.3% to ¥26.4B.

• Comprehensive income for the period was ¥39.9B, down from ¥47.9B in the prior year.

• Strategic investments in impact, space-related ventures, and proprietary AI technology, with continued reduction of cross-shareholdings to improve capital efficiency.

Financial highlights

• Net sales for FY2025 2Q reached ¥234.5B, up 8.1% YoY; operating profit rose 57.1% to ¥33.2B; recurring profit up 64.1% to ¥39.8B; net income attributable to owners up 65.3% to ¥26.4B.

• Gross profit increased to ¥87.5B from ¥72.9B YoY; ordinary profit reached ¥39.8B, up from ¥24.3B.

• Net assets increased to ¥1,019.1B as of September 30, 2025, from ¥991.0B at March 31, 2025.

• Cash and deposits rose to ¥98.6B from ¥93.3B at the end of the previous fiscal year.

• Spot advertising revenue increased 17.6% YoY; digital ad revenue surged 51.5% YoY.

Outlook and guidance

• FY2025 full-year net sales forecast revised up to ¥473B (+1.5% YoY); operating profit to ¥59B (+7.3% YoY); recurring profit to ¥70B (+9.4% YoY); net income to ¥50B (+6.4% YoY); EPS: ¥200.14.

• Dividend forecast unchanged; annual dividend expected at ¥40 per share.

• Targeting a total shareholder return ratio of 35% or more under the medium-term plan.

• Upward revision of full-year forecasts reflects extraordinary gains from sale of investment securities.