Fuji Media : Flash Report Results for the fiscal year ended March 31, 2025

‌Note:This document has been translated from a part of the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

Consolidated Financial Results for the Year Ended March 31, 2025

[Japanese GAAP]

May 16, 2025

Company name: FUJI MEDIA HOLDINGS, INC.

Listing: Tokyo Stock Exchange Securities code: 4676

URL: https://www.fujimediahd.co.jp/en/ Representative: Osamu Kanemitsu President

Inquiries: Atsushi Yanagi General Manager of Treasury & Finance Department Telephone: [phone]

Scheduled date of annual general meeting of shareholders: June 25, 2025 Scheduled date to commence dividend payments: June 26, 2025 Scheduled date to file annual securities report: June 25, 2025

Preparation of supplementary material on financial results: Yes Holding of financial results briefing: Yes

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2025 (April 1, 2024 to March 31, 2025)

   1. Consolidated Operating Results (Percentages indicate year-on-year changes.)

      	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent
      Fiscal year ended March 31, 2025 March 31, 2024	Millions of yen 550,761 566,443	% (2.8) 5.8	Millions of yen 18,293 33,519	% (45.4) 6.7	Millions of yen 25,180 39,173	% (35.7) 0.3	Millions of yen (20,134) 37,082	% - (20.9)

      (Note) Comprehensive income:	Fiscal year ended March 31, 2025:	¥	(13,845) million	[	-%]
      	Fiscal year ended March 31, 2024:	¥	42,739 million	[	(12.0) %]

      	Basic earnings per share	Diluted earnings per share	Rate of return on equity	Ordinary profit to total assets ratio	Operating profit to net sales ratio
      Fiscal year ended	Yen	Yen	%	%	%
      March 31, 2025	(95.74)	-	(2.4)	1.7	3.3
      March 31, 2024	169.27	-	4.4	2.8	5.9

      (Reference) Equity in earnings (losses) of affiliated companies:	Fiscal year ended March 31, 2025:	¥	2,911 million
      (2) Consolidated Financial Position	Fiscal year ended March 31, 2024:	¥	1,378 million

      	Total assets	Net assets	Capital adequacy ratio	Net assets per share
      As of March 31, 2025 March 31, 2024	Millions of yen 1,440,296 1,448,833	Millions of yen 830,023 869,628	% 56.8 59.2	Yen 3,943.80 3,972.81

      (Reference) Equity: As of March 31, 2025:	¥	818,166 million
      As of March 31, 2024:	¥	857,920 million

      (3) Consolidated Cash Flows

      	Cash flows from operating activities	Cash flows from investing activities	Cash flows from financing activities	Cash and cash equivalents at the end of period
      Fiscal year ended March 31, 2025 March 31, 2024	Millions of yen 58,449 47,801	Millions of yen (37,492) (106,535)	Millions of yen 2,463 25,240	Millions of yen 123,112 98,982

2. Dividends

   	Annual dividends					Total dividends	Payout ratio (consolidated)	Dividends to net assets (consolidated)
   	1st quarter-end	2nd quarter-end	3rd quarter-end	Year-end	Total
   Fiscal year ended March 31, 2024 March 31, 2025	Yen - -	Yen 24.00 25.00	Yen - -	Yen 24.00 25.00	Yen 48.00 50.00	Millions of yen 10,582 10,589	% 28.4 -	% 1.2 1.3
   Fiscal year ending March 31, 2026 (Forecast)	-	25.00	-	25.00	50.00		103.7

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2026 (April 1, 2025 to March 31, 2026)

(Percentages indicate year-on-year changes.)

	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent		Basic earnings per share
Full year	Millions of yen 561,000	% 1.9	Millions of yen 2,500	% (86.3)	Millions of yen 7,100	% (71.8)	Millions of yen 10,000	% -	Yen 48.20

* Notes:
(1) Significant changes in the scope of consolidation during the period:	None
Newly included: - (Company name: Excluded: - (Company name:		) )

1. Changes in accounting policies, changes in accounting estimates, and restatement

   1. Changes in accounting policies due to revisions to accounting standards and other regulations: Yes

   2. Changes in accounting policies due to other reasons: None

   3. Changes in accounting estimates: None

   4. Restatement: None

2. Number of issued shares (common shares)

   1. Total number of issued shares at the end of the period (including treasury shares): March 31, 2025: 234,194,500 shares

      March 31, 2024: 234,194,500 shares

   2. Number of treasury shares at the end of the period:

      March 31, 2025: 26,738,332 shares

      March 31, 2024: 18,246,615 shares

   3. Average number of shares outstanding during the period:

Fiscal Year ended March 31, 2025: 210,295,817 shares

Fiscal Year ended March 31, 2024: 219,072,676 shares

(Reference) Overview of Non-consolidated Financial Results

1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2025 (April 1, 2024 to March 31, 2025)

1. Non-consolidated Operating Results (Percentages indicate year-on-year changes.)

   	Net sales		Operating profit		Ordinary profit		Net income
   Fiscal year ended March 31, 2025 March 31, 2024	Millions of yen 16,099 17,762	% (9.4) 12.5	Millions of yen 8,183 10,602	% (22.8) 19.7	Millions of yen 12,939 15,294	% (15.4) 18.4	Millions of yen 1,902 26,273	% (92.8) (16.4)

   	Basic earnings per share	Diluted earnings per share
   Fiscal year ended	Yen	Yen
   March 31, 2025	8.92	-
   March 31, 2024	118.32	-

2. Non-consolidated Financial Position

	Total assets	Net assets	Capital adequacy ratio	Net assets per share
As of March 31, 2025 March 31, 2024	Millions of yen 820,951 843,546	Millions of yen 569,106 591,572	% 69.3 70.1	Yen 2,704.53 2,702.24

(Reference) Equity: As of March 31, 2025:	¥	569,106 million
As of March 31, 2024:	¥	591,572 million

• Financial results reports are exempt from audit conducted by certified public accountants or an audit firm.

• Proper use of earnings forecasts, and other special matters

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.

‌Consolidated Financial Statements

Consolidated Balance Sheets

(Millions of yen)

As of March 31, 2024

As of March 31, 2025

Assets

Current assets

Cash and deposits 76,077 84,297

Notes and accounts receivable - trade, and contract assets	95,858	70,388
Securities	121,461	113,991
Inventories	73,553	82,864
Other	38,691	48,030
Allowance for doubtful accounts	(703)	(979)
Total current assets	404,938	398,592
Non-current assets
Property, plant and equipment
Buildings and structures, net	174,618	174,990
Machinery, equipment and vehicles, net	14,399	11,076
Land	336,381	344,469
Construction in progress	16,894	8,774
Other, net	12,157	11,158
Total property, plant and equipment	554,451	550,469
Intangible assets
Goodwill	395	1,600
Leasehold interests in land	5,107	4,885
Software	7,979	4,508
Other	12,682	12,714
Total intangible assets	26,165	23,708
Investments and other assets
Investment securities	414,647	414,896
Retirement benefit asset	12,189	16,766
Deferred tax assets	6,178	4,495
Other	31,710	32,783
Allowance for doubtful accounts	(1,449)	(1,415)
Total investments and other assets	463,277	467,526
Total non-current assets	1,043,894	1,041,704
Total assets	1,448,833	1,440,296

Provision for bonuses for directors (and other officers)

517

555

Provision for retirement benefits for directors (and other officers)

2,360

2,356

(Millions of yen)

As of March 31, 2024 As of March 31, 2025

Liabilities

Current liabilities

Notes and accounts payable - trade 39,292 42,349

Electronically recorded obligations - operating 6,275 4,505

Short-term borrowings 27,677 69,204

Income taxes payable 9,643 7,496

Other 69,030 62,827

Total current liabilities 152,437 186,939 Non-current liabilities

Bonds payable 20,000 20,000

Long-term borrowings 273,676 261,690

Deferred tax liabilities 81,063 89,923

Deferred tax liabilities for land revaluation 11,745 12,090

Retirement benefit liability 15,078 14,127

Negative goodwill 611 37

Other 22,230 23,107

Total non-current liabilities 426,766 423,333

Total liabilities 579,204 610,273

Net assets

Shareholders' equity

Share capital 146,200 146,200

Capital surplus 173,797 173,814

Retained earnings 426,880 396,115

Treasury shares (24,113) (39,055)

Total shareholders' equity 722,765 677,075 Accumulated other comprehensive income

Valuation difference on available-for-sale securities

117,061 116,672

Deferred gains or losses on hedges (115) (0)

Revaluation reserve for land 1,530 1,233

Foreign currency translation adjustment 6,281 10,309

Remeasurements of defined benefit plans 10,396 12,875

Total accumulated other comprehensive income 135,154 141,091

Non-controlling interests 11,708 11,857

Total net assets 869,628 830,023

Total liabilities and net assets 1,448,833 1,440,296

Consolidated Statements of Income and Comprehensive Income

Consolidated Statements of Income

For the fiscal year ended March 31, 2024

(Millions of yen)

For the fiscal year ended March 31, 2025

Net sales 566,443 550,761

Cost of sales 406,706 411,586

Gross profit 159,736 139,175

Selling, general and administrative expenses 126,216 120,881

Operating profit 33,519 18,293

Non-operating income

Interest income 884 1,002

Share of profit of entities accounted for using equity method

1,378

2,911

Dividend income 3,895 4,460

Amortization of negative goodwill 573 573

Gain on investments in investment partnerships 533 661

Other 1,256 694

Total non-operating income 8,521 10,305 Non-operating expenses

Interest expenses 1,875 2,654

Loss on investments in investment partnerships 97 121

Other 894 641

Total non-operating expenses 2,868 3,417

Ordinary profit 39,173 25,180

Extraordinary income

Gain on sale of investment securities 17,256 6,587

Other 17 388

Total extraordinary income 17,273 6,976 Extraordinary losses

Impairment losses 514 28,057

Other 1,530 4,227

Total extraordinary losses 2,045 32,285

Profit (loss) before income taxes 54,401 (128)

Income taxes - current 18,002 12,453

Income taxes - deferred (1,142) 7,142

Total income taxes 16,860 19,595

Profit (loss) 37,541 (19,723)

Profit attributable to non-controlling interests 458 410

Profit (loss) attributable to owners of parent 37,082 (20,134)

Consolidated Statements of Comprehensive Income
		(Millions of yen)
	For the fiscal year ended March 31, 2024	For the fiscal year ended March 31, 2025
Profit (loss)	37,541	(19,723)
Other comprehensive income
Valuation difference on available-for-sale securities	(5,188)	501
Revaluation reserve for land	-	(345)
Foreign currency translation adjustment	2,094	3,678
Remeasurements of defined benefit plans, net of tax	6,239	2,063
Share of other comprehensive income of entities 2,052 (20) accounted for using equity method

Total other comprehensive income 5,198 5,878

Comprehensive income attributable to owners of parent

42,026

(14,198)

Comprehensive income attributable to

Comprehensive income 42,739 (13,845)

Comprehensive income attributable to non-controlling

interests

712 352

Consolidated Statements of Changes in Equity

For the fiscal year ended March 31, 2024

(Millions of yen)

	Shareholders' equity
	Share capital	Capital surplus	Retained earnings	Treasury shares	Total shareholders' equity
Balance at beginning of period	146,200	173,797	401,585	(14,113)	707,469
Changes during period
Dividends of surplus			(12,089)		(12,089)
Profit (loss) attributable to owners of parent			37,082		37,082
Purchase of treasury shares				(10,000)	(10,000)
Change in treasury shares arising from change in equity in entities accounted for using equity method				0	0
Reversal of revaluation reserve for land			2		2
Increase by merger			299		299
Net changes in items other than shareholders' equity
Total changes during period	-	-	25,295	(9,999)	15,295
Balance at end of period	146,200	173,797	426,880	(24,113)	722,765

	Accumulated other comprehensive income						Non-controlling interests	Total net assets
	Valuation difference on available-for-sale securities	Deferred gains or losses on hedges	Revaluation reserve for land	Foreign currency translation adjustment	Remeasurements of defined benefit plans	Total accumulated other comprehensive income
Balance at beginning of period	120,667	(183)	1,533	4,170	4,023	130,210	11,089	848,769
Changes during period
Dividends of surplus								(12,089)
Profit (loss) attributable to owners of parent								37,082
Purchase of treasury shares								(10,000)
Change in treasury shares arising from change in equity in entities accounted for using equity method								0
Reversal of revaluation reserve for land								2
Increase by merger								299
Net changes in items other than shareholders' equity	(3,605)	68	(2)	2,110	6,373	4,944	619	5,563
Total changes during period	(3,605)	68	(2)	2,110	6,373	4,944	619	20,858
Balance at end of period	117,061	(115)	1,530	6,281	10,396	135,154	11,708	869,628

For the fiscal year ended March 31, 2025

(Millions of yen)

	Shareholders' equity
	Share capital	Capital surplus	Retained earnings	Treasury shares	Total shareholders' equity
Balance at beginning of period	146,200	173,797	426,880	(24,113)	722,765
Changes during period
Dividends of surplus			(10,582)		(10,582)
Profit (loss) attributable to owners of parent			(20,134)		(20,134)
Purchase of treasury shares				(15,000)	(15,000)
Disposal of treasury shares		17		57	75
Change in treasury shares arising from change in equity in entities accounted for using equity method				0	0
Reversal of revaluation reserve for land			(47)		(47)
Net changes in items other than shareholders' equity
Total changes during period	-	17	(30,765)	(14,942)	(45,689)
Balance at end of period	146,200	173,814	396,115	(39,055)	677,075

	Accumulated other comprehensive income						Non-controlling interests	Total net assets
	Valuation difference on available-for-sale securities	Deferred gains or losses on hedges	Revaluation reserve for land	Foreign currency translation adjustment	Remeasurements of defined benefit plans	Total accumulated other comprehensive income
Balance at beginning of period	117,061	(115)	1,530	6,281	10,396	135,154	11,708	869,628
Changes during period
Dividends of surplus								(10,582)
Profit (loss) attributable to owners of parent								(20,134)
Purchase of treasury shares								(15,000)
Disposal of treasury shares								75
Change in treasury shares arising from change in equity in entities accounted for using equity method								0
Reversal of revaluation reserve for land								(47)
Net changes in items other than shareholders' equity	(388)	114	(297)	4,028	2,479	5,936	148	6,084
Total changes during period	(388)	114	(297)	4,028	2,479	5,936	148	(39,605)
Balance at end of period	116,672	(0)	1,233	10,309	12,875	141,091	11,857	830,023

Consolidated Statements of Cash Flows

Cash flows from operating activities

For the fiscal year ended March 31, 2024

(Millions of yen)

For the fiscal year ended March 31, 2025

Profit (loss) before income taxes 54,401 (128)

Depreciation 18,437 19,740

Impairment losses 514 28,057

Amortization of goodwill (469) (351)

Increase (decrease) in retirement benefit liability (1,042) (2,440)

Interest and dividend income (4,779) (5,463)

Interest expenses 1,875 2,654

Share of loss (profit) of entities accounted for using equity method

(1,378)

(2,911)

Loss (gain) on sale of investment securities (17,136) (6,582)

Decrease (increase) in trade receivables 461 26,775

Decrease (increase) in inventories 11,362 15,167

Increase (decrease) in trade payables 1,031 1,272

Other, net (1,272) (5,675)

Subtotal 62,005 70,115

Interest and dividends received 5,714 6,487

Interest paid (1,749) (2,632)

Income taxes paid (18,282) (15,618)

Income taxes refund 113 96

Net cash provided by (used in) operating activities 47,801 58,449 Cash flows from investing activities

Purchase of securities (186,849) (158,148)

Proceeds from sale and redemption of securities 195,916 193,683

Purchase of property, plant and equipment (97,711) (61,245)

Purchase of intangible assets (11,606) (4,585)

Purchase of investment securities (21,989) (13,819)

Proceeds from sale and redemption of investment securities

22,575

11,407

Payments into time deposits (7,603) (2,928)

Proceeds from withdrawal of time deposits 1,930 3,068

Purchase of shares of subsidiaries resulting in change in scope of consolidation

- (1,289)

Other, net (1,197) (3,634)

Net cash provided by (used in) investing activities (106,535) (37,492)

Cash flows from financing activities

For the fiscal year ended March 31, 2024

(Millions of yen)

For the fiscal year ended March 31, 2025

Net increase (decrease) in short-term borrowings (3,000) 8,600

Proceeds from long-term borrowings 81,000 50,000

Repayments of long-term borrowings (39,772) (29,203)

Proceeds from issuance of bonds 19,911 -

Redemption of bonds (10,000) -

Purchase of treasury shares (10,000) (15,000)

Dividends paid (12,088) (10,579)

Other, net (810) (1,353)

Net cash provided by (used in) financing activities 25,240 2,463

Effect of exchange rate change on cash and cash equivalents

1,388

710

Net increase (decrease) in cash and cash equivalents (32,104) 24,130

Cash and cash equivalents at beginning of period 130,155 98,982

Increase in cash and cash equivalents resulting from merger

931 -

Cash and cash equivalents at end of period 98,982 123,112