Nippon Television (9404) Q3 2025 earnings summary

Executive summary

• Net sales for the nine months ended December 31, 2024, rose 8.9% year-over-year to JPY 333.6 billion, driven by increased ad sales, international content, movies, and IP business.

• Operating profit increased 20.5% to JPY 37.4 billion; recurring/ordinary profit up 15.9% to JPY 42.9 billion.

• Net income attributable to owners declined 11.0% year-over-year to JPY 29.5 billion due to prior-year extraordinary gains.

• Comprehensive income surged 43.7% to JPY 108.6 billion, mainly from gains in available-for-sale securities.

• Continued reduction of cross-shareholdings, with JPY 5.75–5.8 billion gain recorded in Q3 FY2024.

Financial highlights

• Gross profit for the nine months was JPY 116.1 billion, up from JPY 101.8 billion year-over-year.

• Selling, general and administrative expenses increased to JPY 78.6 billion from JPY 70.7 billion.

• Nippon TV segment net sales up 2.2% to JPY 215.4 billion; operating profit up 10.0% to JPY 23.5 billion.

• Digital ad revenue surged 39.8% year-over-year; spot ad sales up 2.6%.

• Events/content business sales up 6.9%; international business sales (excl. anime) up 162.1%.

Outlook and guidance

• FY2024 consolidated net sales forecast at JPY 442.0 billion (+4.4% YoY); operating profit forecast at JPY 42.0 billion (+0.3%).

• Recurring/ordinary profit expected at JPY 48.0 billion (+3.0%); net income to rise 1.0% to JPY 35.0 billion.

• Annual dividend forecast unchanged at 40 yen per share; forecasted net income per share is JPY 138.91.