TBS Holdings (9401) Q1 2027 earnings summary

Executive summary

• Consolidated net sales for Q1 FY26 reached ¥105,419 million, up 4.8% year-over-year, but operating profit declined by 43% to ¥4,622 million due to higher costs and a challenging ad market.

• Ordinary profit fell 19.0% to ¥12,810 million, and profit attributable to owners of parent decreased 18.2% year-over-year.

• Comprehensive income surged to ¥504,461 million from ¥118,294 million in the prior year, driven by valuation gains on available-for-sale securities.

• Media and Content, Lifestyle, and Real Estate segments all saw net sales growth, but only Real Estate and Others achieved higher operating profit.

• The company revised its full-year forecasts downward for net sales, operating profit, and ordinary profit due to global economic uncertainty and weak spot ad sales.

Financial highlights

• Q1 FY26 consolidated net sales: ¥105,419 million (+4.8% YoY); operating profit: ¥4,622 million (-43.0% YoY); ordinary profit: ¥12,810 million (-19.0% YoY); profit attributable to owners of parent: ¥7,227 million (-18.2% YoY).

• Media and Content segment net sales: ¥78,213 million (+5.5% YoY), operating profit: ¥2,557 million (-57.3% YoY).

• Lifestyle segment net sales: ¥22,868 million (+2.4% YoY), operating profit: -¥757 million.

• Real Estate and Others segment net sales: ¥4,337 million (+3.3% YoY), operating profit: ¥2,823 million (+41.5% YoY).

• Gross profit for the quarter was ¥32,293 million, down from ¥34,980 million year-over-year.

Outlook and guidance

• Full-year FY26 consolidated net sales forecast revised to ¥435,000 million (-¥5,000 million from previous), operating profit to ¥23,000 million (-¥3,000 million), ordinary profit to ¥38,000 million (-¥1,000 million).

• Profit attributable to owners of parent is forecast at ¥48,500 million, a 7.1% decrease year-over-year.

• Dividend forecast for the fiscal year is ¥100 per share, with profit and dividend guidance unchanged.

• TBS TV full-year net sales forecast revised to ¥248,700 million, operating profit to ¥12,000 million.

• The revised forecast reflects lower expectations for spot advertising sales due to global economic uncertainty and Middle East tensions.