Asahi Broadcasting : NOTICE OF REVISION OF FINANCIAL RESULTS FORECASTS

[Translation]

August 3, 2020

Company Name: Asahi Broadcasting Group Holdings Corporation

Representative: Susumu Okinaka, Representative Director and President

(Securities Code: 9405)

Inquiries: Hirokazu Ueda, Manager, Financial Affairs Division

(TEL: [phone])

Notice of Revision of Financial Results Forecasts

Asahi Broadcasting Group Holdings Corporation ("the Company") announces the revision of its full-year consolidated financial results forecasts for fiscal 2020 (April 1, 2020 to March 31, 2021) as follows. The forecasts were undetermined in the Consolidated Financial Report for Fiscal 2019 (The Fiscal Year Ended March 31, 2020 under Japanese GAAP) issued on May 22, 2020. However, as economic activities have gradually resumed, the Company has calculated forecasts based on the information available at the moment.

• Revision of financial results forecasts

Revision of full-year consolidated financial results forecasts for fiscal 2020 (April 1, 2020 to March 31, 2021)

	Net Sales	Operating	Ordinary	Profit attributable	Basic Earnings
	Income	Income	to owners of parent	per Share
	¥ million	¥ million	¥ million	¥ million	¥
Previously announced
forecasts (A)	Undetermined	Undetermined	Undetermined	Undetermined	Undetermined
(Announced on May 22,
2020)
Revised forecasts (B)	72,500	200	500	300	7.31
Change (B-A)	―	―	―	―	―
Percentage change (%)	―	―	―	―	―
(Ref) Results for the
full-year ended March	82,937	3,388	3,633	2,278	55.63
31, 2020

Reasons for the revision

The full-year consolidated financial results forecasts for fiscal 2020 (April 1, 2020 to March 31, 2021) were undetermined in the Consolidated Financial Report for Fiscal 2019 (The Fiscal Year Ended March 31, 2020 under Japanese GAAP) issued on May 22, 2020, owing to the difficulty of reasonably calculating full-year consolidated financial results forecasts as a result of the impact of the spread of COVID-19. However, as economic activities have gradually resumed, the Company has calculated full-year consolidated financial results forecasts based on the information available at the moment.

Net sales for the three months ended June 30, 2020 decreased year on year due to the impact of the spread of COVID-19. Based on the assumption that the Japanese economy will gradually recover from the second quarter onward, the Company forecasts net sales of ¥72,500 million, operating income of ¥200 million, ordinary income of ¥500 million, and profit attributable to owners of parent of ¥300 million, for the full-year consolidated financial results.

The outlook presented above may significantly change due to external factors such as domestic and overseas economic trends, as well as when COVID-19 comes to an end and the range of its impact. Should any event arise that affects the financial results of the Group, the Company will promptly announce it.

Note:

The forecasts presented above are based on information that is currently available to the Group and certain assumptions that are judged to be reasonable. Actual results may differ from the forecasts due to various factors.