(Note) Revision to the most recently announced financial results forecasts: Yes
1. Significant changes in subsidiaries (changes in specific subsidiaries involving a change in the scope of consolidation) during the subject period: None
Adoption of special accounting treatment in preparing the quarterly consolidated financial statements: None
Changes in accounting policies, changes in accounting estimates, and modifications and restatements:
Changes in accounting policies based on revision of accounting standards: Yes
Changes in accounting policies other than 1) above: None
Changes in accounting estimates: None
Modifications and restatements: None
(Note) For details, please refer to "2. CONSOLIDATED FINANCIAL STATEMENTS AND PRIMARY NOTES: (4) Notes to Consolidated Financial Statements (Changes in Accounting Policies)" on page 16.
4. Number of issued shares (Common stock)
Six months ended
September 30, 2021
March 31, 2021
1) Number of issued shares (including treasury stock)
at end of the period (shares)
2) Number of treasury stock at end of the period
Six months ended
September 30, 2020
3) Average number of issued shares during the
This flash report is outside the scope of quarterly review by certified public accountants or an audit firm.
Explanation of appropriate use of forecasts of financial results; other important items
The forward-looking statements made in this document, including the aforementioned forecasts, are based on all information available to the management at the time of this document's release and certain assumptions considered rational. Actual results may differ materially from the forecasts due to various factors in the future. Regarding the assumptions forming the forecast of financial results, please refer to "1. QUALITATIVE INFORMATION ON CONSOLIDATED FINANCIAL RESULTS FOR THE SECOND QUARTER OF THE FISCAL YEAR ENDING MARCH 31, 2022: (3) Explanation of Consolidated Financial Results Forecasts and Other Future Projections" on page 9.
CONTENTS OF ATTACHMENT
1. QUALITATIVE INFORMATION ON CONSOLIDATED FINANCIAL RESULTS FOR
THE SECOND QUARTER OF THE FISCAL YEAR ENDING MARCH 31, 2022
Explanation of Business Results
Explanation of Financial Position
Explanation of Consolidated Financial Results Forecasts and Other Future Projections 9
2. CONSOLIDATED FINANCIAL STATEMENTS AND PRIMARY NOTES
Consolidated Balance Sheets
Consolidated Statements of Income and Consolidated Statements of
Consolidated Statements of Cash Flows
Notes to Consolidated Financial Statements
(Note on Assumptions for Going Concern)
(Notes in the Event of Major Change in Shareholders' Equity)
(Changes in Accounting Policies)
1. QUALITATIVE INFORMATION ON CONSOLIDATED FINANCIAL RESULTS FOR THE SECOND QUARTER OF THE FISCAL YEAR ENDING MARCH 31, 2022
(1) Explanation of Business Results
The Japanese government's Monthly Economic Report on the Japanese economy for the six months ended September 30, 2021 (April 1, 2021 to September 30, 2021) states, "Concerning short-term prospects, the economy is expected to pick up, supported by the effects of various policies and improvement in overseas economies while taking measures to prevent the spread of infectious diseases and accelerating vaccinations. However, full attention should be given to a further increase in downside risks due to the trend of domestic and overseas infections and negative effects through the supply chains." It also states that firms' judgments on business conditions "show movements of picking up, although some severe aspects remain."
Fuji Media Holdings Group (the "Group"), as in the same period of the previous fiscal year, was affected by the lasting impact of the novel coronavirus infection (COVID-19), including a drop in travel and tourism demand. However, the Group was able to improve its performance thanks to a recovery in advertising revenue and efforts to cut back on operating expenses.
Amid this economic environment, the consolidated net sales of the Group decreased overall during the six months ended September 30, 2021, down 2.2% from the same period of the previous fiscal year to ¥241,503 million despite an increase in the Urban Development, Hotels & Resorts segment, as there was a decrease in the Media & Content segment.
In terms of earnings, operating income increased 138.8% year-on-year to ¥11,576 million, as there were revenue increases in both the Media & Content segment and the Urban Development, Hotels & Resorts segment. Recurring profit increased 97.3% year-on-year to ¥18,701 million and net income attributable to owners of the parent increased 151.8% year-on-year to ¥13,638 million due to a decrease in loss on COVID-19, which was reported under extraordinary loss in the same period of the previous fiscal year.
Due to the application of the Accounting Standard for Revenue Recognition, etc., net sales decreased ¥11,209 million, cost of sales decreased ¥9,872 million and selling, general and administrative expenses decreased ¥1,466 million, while operating income, recurring profit and income before income taxes increased ¥129 million, respectively.
This is an excerpt of the original content. To continue reading it, access the original document here.
Fuji Media Holdings Inc. published this content on 16 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 November 2021 07:35:06 UTC.