Fuji Media : Flash Report (Consolidated Basis)

August 4, 2022

Flash Report [Japanese GAAP] (Consolidated Basis)

Results for the three months ended June 30, 2022

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
Person to contact:	Ryosuke Fukami, Executive Managing Director and General Manager of Treasury & Finance
	Department
	Telephone: [phone] (key)
Scheduled date of filing quarterly securities report: August 12, 2022
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	%
2022	126,633	13.7	7,851	69.1	10,598	52.5	7,785	88.1
2021	111,401	(7.4)	4,643	64.5	6,951	24.6	4,138	105.5
(Note) Comprehensive income: Three months ended June 30, 2022: ¥7,355 million, (45.1)%,
	Three months ended June 30, 2021: ¥13,392 million, 1.4%
	Basic earnings per share		Diluted earnings per
		share
	Yen			Yen
2022		35.01			―
2021		18.60			―

(2) Financial Position

	Total assets	Net assets	Equity ratio
	Millions of yen	Millions of yen	%
June 30, 2022	1,327,770	812,052	60.4
March 31, 2022	1,335,991	808,788	59.7
(Reference) Total shareholders' equity: June 30, 2022:	¥801,431 million,
	March 31, 2022: ¥798,068 million

1

2. Dividends

Year ended March 31, 2022 / Year ending March 31, 2023

			Dividends per share
	1Q		2Q		3Q	Year-end	Total
	Yen		Yen		Yen	Yen	Yen
2022		―	18.00			―	20.00		38.00
2023		―
2023			20.00			―	20.00		40.00
(Forecast)
(Note) Revision to the most recently announced dividends forecast: None

3. Forecasts of Consolidated Financial Results for the Fiscal Year Ending March 31, 2023

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

	Net sales		Operating income		Recurring profit
	Millions of yen	%	Millions of yen	%	Millions of yen	%
Fiscal year	542,200	3.3	35,000	5.0	41,500	(8.9)
	Net income attributable to	Basic earnings per share
	owners of the parent
	Millions of yen	%	Yen
Fiscal year	27,000	8.5	121.41

(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.

2

4. Number of issued shares (Common stock)

		Three months ended	Year ended
		June 30, 2022	March 31, 2022
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	11,804,125	11,788,673
	(shares)
			Three months ended
			June 30, 2021
3)	Average number of issued shares during the	222,405,657	222,450,942
	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, 2023: (3) Explanation of Consolidated Financial Results Forecasts and Other Future Projections" on page 8.

3

CONTENTS OF ATTACHMENT

1. QUALITATIVE INFORMATION ON CONSOLIDATED FINANCIAL RESULTS FOR
THE FIRST QUARTER OF THE FISCAL YEAR ENDING MARCH 31, 2023	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)	14

4

1. QUALITATIVE INFORMATION ON CONSOLIDATED FINANCIAL RESULTS FOR THE FIRST QUARTER OF THE FISCAL YEAR ENDING MARCH 31, 2023

(1) Explanation of Business Results

The Japanese government's Monthly Economic Report on the Japanese economy for the three months ended June 30, 2022 (April 1, 2022 to June 30, 2022) states, "The economy is expected to show movements of picking up, supported by the effects of the policies while all possible measures are being taken against infectious diseases, and economic and social activities proceed to normalization. However, full attention should be given to the downside risks due to rising raw material prices, supply- side constraints and fluctuations in the financial and capital markets while there are concerns regarding the effects of lengthening the state of affairs of Ukraine and suppression of economic activities in China." It also states that firms' judgments on business conditions "appear to be pausing for picking up."

Fuji Media Holdings Group (the "Group") was also affected by the prolonged situation in Ukraine and rising raw material prices. However, the Group was able to improve its performance thanks to a significant increase in the number of condominium units sold, as well as the recovery of travel and tourism demand and the resumption of events, among others, following the normalization of economic and social activities.

Amid this economic environment, consolidated net sales of the Group increased overall during the three months ended June 30, 2022, up 13.7% from the same period of the previous fiscal year to ¥126,633 million, thanks to increases in both the Media & Content segment and the Urban Development, Hotels & Resorts segment.

In terms of earnings, operating income overall increased 69.1% year-on-year to ¥7,851 million, as the Urban Development, Hotels & Resorts segment turned profitable after having recorded an operating loss in the same period of the previous fiscal year, despite a decrease in profit in the Media

• Content segment. Recurring profit increased 52.5% year-on-year to ¥10,598 million and net income attributable to owners of the parent increased 88.1% year-on-year to ¥7,785 million.

Results by operating segment are as follows.

Three months ended June 30

		Net sales		Operating income (loss)
	2021	2022	Change	2021	2022	Change
	Millions of yen	Millions of yen	%	Millions of yen	Millions of yen	%
Media & Content	97,215	98,051	0.9	5,600	4,464	(20.3)
Urban Development,	12,919	27,344	111.7	(756)	3,497	―
Hotels & Resorts
Other	4,375	4,657	6.4	115	163	41.6
Eliminations	(3,109)	(3,420)	―	(315)	(273)	―
Total	111,401	126,633	13.7	4,643	7,851	69.1

5