Fuji Media : ［Delayed］Flash Report (Consolidated Basis)Results for the three months ended June 30, 2021

August 5, 2021

Flash Report [Japanese GAAP] (Consolidated Basis)

Results for the three months ended June 30, 2021

Company name: Fuji Media Holdings, Inc.

Stock listing:	Tokyo Stock Exchange	Code number: 4676	URL: https://www.fujimediahd.co.jp/en
Representative:	Osamu Kanemitsu, President and Representative Director
Person to contact:	Junji Okunogi, Executive Managing Director and General Manager of Treasury & Finance Department
	Telephone: [phone] (key)

Scheduled date of filing quarterly securities report: August 12, 2021

Scheduled date of commencing dividend payments: ―

Availability of supplementary briefing material on quarterly financial results: Available

Schedule of quarterly financial results briefing session: Not scheduled

(Figures less than ¥1 million have been omitted.)

1. Consolidated Financial Results

(1) Business Performance

Three months ended June 30					Percentages indicate year-on-year increases/(decreases).
	Net sales			Operating income	Recurring profit	Net income attributable
			to owners of the parent
	Millions of yen	%		Millions of yen	%	Millions of yen	%	Millions of yen	%
2021	111,401	(7.4)	4,643	64.5	6,951	24.6	4,138	105.5
2020	120,299	(19.4)	2,822	(62.5)	5,578	(46.5)	2,013	(90.6)
(Note) Comprehensive income: Three months ended June 30, 2021: ¥13,392 million, 1.4%,
	Three months ended June 30, 2020: ¥13,202 million, (33.3)%
	Basic earnings per share		Diluted earnings per
		share
	Yen			Yen
2021		18.60			―
2020		8.71			―

(2) Financial Position

	Total assets	Net assets	Equity ratio
	Millions of yen	Millions of yen	%
June 30, 2021	1,333,498	792,719	58.7
March 31, 2021	1,336,042	784,429	57.9

(Reference) Total shareholders' equity: June 30, 2021: ¥782,255 million, March 31, 2021: ¥774,011 million

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2. Dividends

Year ended March 31, 2021/ Year ending March 31, 2022

			Dividends per share
	1Q		2Q		3Q	Year-end	Total
	Yen		Yen		Yen	Yen	Yen
2021		―	18.00			―	18.00		36.00
2022		―
2022			18.00			―	18.00		36.00
(Forecast)
(Note) Revision to the most recently announced dividends forecast: None

3. Forecasts of Consolidated Financial Results for the Fiscal Year Ending March 31, 2022

Percentages indicate year-on-year increases/(decreases).

	Net sales		Operating income		Recurring profit
	Millions of yen	%	Millions of yen	%	Millions of yen	%
Fiscal year	509,700	(2.0)	21,600	32.7	25,200	13.0
	Net income attributable to	Basic earnings per share
	owners of the parent
	Millions of yen	%	Yen
Fiscal year	17,400	72.1	78.22

(Note) Revision to the most recently announced financial results forecasts: None

Notes:

1. Significant changes in subsidiaries (changes in specific subsidiaries involving a change in the scope of consolidation) during the subject period: None

Additions: None

Deletions: None

1. Adoption of special accounting treatment in preparing the quarterly consolidated financial statements: None
2. Changes in accounting policies, changes in accounting estimates, and modifications and restatements:
3. 1. Changes in accounting policies based on revision of accounting standards: Yes
   2. Changes in accounting policies other than 1) above: None
   3. Changes in accounting estimates: None
   4. Modifications and restatements: None

(Note) For details, please refer to "2. CONSOLIDATED FINANCIAL STATEMENTS AND PRIMARY NOTES: (3) Notes to Consolidated Financial Statements (Changes in Accounting Policies)" on page 13.

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4. Number of issued shares (Common stock)

		Three months ended	Year ended
		June 30, 2021	March 31, 2021
1)	Number of issued shares (including treasury stock)	234,194,500	234,194,500
	at end of the period (shares)
2)	Number of treasury stock at end of the period	11,743,558	11,743,558
	(shares)
			Three months ended
			June 30, 2020
3)	Average number of issued shares during the	222,450,942	231,308,596
	period (shares)

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 FIRST QUARTER OF THE FISCAL YEAR ENDING MARCH 31, 2022: (3) Explanation of Consolidated Financial Results Forecasts and Other Future Projections" on page 8.

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CONTENTS OF ATTACHMENT

1. QUALITATIVE INFORMATION ON CONSOLIDATED FINANCIAL RESULTS FOR
THE FIRST QUARTER OF THE FISCAL YEAR ENDING MARCH 31, 2022	5
(1)	Explanation of Business Results	5
(2)	Explanation of Financial Position	7
(3)	Explanation of Consolidated Financial Results Forecasts and Other Future Projections 8
2. CONSOLIDATED FINANCIAL STATEMENTS AND PRIMARY NOTES	9
(1)	Consolidated Balance Sheets	9
(2)	Consolidated Statements of Income and Consolidated Statements of
	Comprehensive Income	11
(3)	Notes to Consolidated Financial Statements	13
	(Note on Assumptions for Going Concern)	13
	(Notes in the Event of Major Change in Shareholders' Equity)	13
	(Changes in Accounting Policies)	13
	(Segment Information)	15
	(Significant Events after the Reporting Period)	16

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1. QUALITATIVE INFORMATION ON CONSOLIDATED FINANCIAL RESULTS FOR THE FIRST 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 three months ended June 30, 2021 (April 1, 2021 to June 30, 2021) states, "Concerning short-term prospects, the economy is expected to continue to show movements of picking 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 the movement of the infections which would affect the domestic and foreign economies." It also states that firms' judgments on business conditions "appear to be pausing for picking up while 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 and the cancellation and postponement of events. 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 three months ended June 30, 2021, down 7.4% from the same period of the previous fiscal year to ¥111,401 million, as there were decreases in both the Media & Content segment and the Urban Development, Hotels & Resorts segment.

In terms of earnings, operating income increased 64.5% year-on-year to ¥4,643 million, as there was a revenue increase in the Media & Content segment despite losses reported in the Urban Development, Hotels & Resorts segment. Recurring profit increased 24.6% year-on-year to ¥6,951 million, and net income attributable to owners of the parent increased 105.5% year-on-year to ¥4,138 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 ¥5,652 million, cost of sales decreased ¥5,005 million and selling, general and administrative expenses decreased ¥690 million, while operating income, recurring profit and income before income taxes increased ¥42 million, respectively.

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