Fuji Media : Quarterly Flash Report Results for six months ended September 30,2017

Flash Report [Japanese GAAP] (Consolidated Basis) Results for the six months ended September 30, 2017

October 31, 2017

Company name: Fuji Media Holdings, Inc.

Stock listing: Tokyo Stock Exchange Code number: 4676 URL: http://www.fujimediahd.co.jp/en Representative: Masaki Miyauchi, President and Representative Director

Person to contact: Junji Okunogi, Senior Executive Director of Treasury & Finance Department Telephone: [phone] (key)

Scheduled date of filing quarterly securities report: November 10, 2017 Scheduled date of commencing dividend payments: December 4, 2017

Availability of supplementary briefing material on quarterly financial results: Available Schedule of quarterly financial results briefing session: Scheduled

1. Consolidated Financial Results
2. Business Performance

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

   Six Months ended September 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 %
   2017	311,816 (4.8)	11,669 (12.3)	15,634 (11.8)	11,609 (8.8)
   2016	327,601 5.1	13,301 171.1	17,735 117.1	12,732 150.7

   (Note) Comprehensive income: Six months ended September 30, 2017: ¥35,525 million, 279.8 %,

   Six months ended September 30, 2016: ¥9,354 million, (―)%

   Basic earnings per share	Diluted earnings per share
   Yen	Yen
   2017	50.18	―
   2016	55.06	―

3. Financial Position

4. Total assets	Net assets	Equity ratio
   Millions of yen	Millions of yen	%
   September 30, 2017	1,228,841	714,680	56.9
   March 31, 2017	1,185,199	682,062	56.3

   (Reference) Total shareholders' equity: September 30, 2017: ¥699,606 million,

   March 31, 2017: ¥667,843 million

5. Dividends

   Year ended March 31, 2017/ Year ending March 31, 2018

   Dividends per share
   1Q	2Q	3Q	Year-end	Total
   Yen	Yen	Yen	Yen	Yen
   2017	―	20.00	―	20.00	40.00
   2018	―	20.00
   2018 (Forecast)	―	20.00	40.00

   (Note) Revision to dividends forecast: None

6. Forecasts of Consolidated Financial Results for the Fiscal Year Ending March 31, 2018

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

   Net sales	Operating income	Recurring profit
   Millions of yen %	Millions of yen %	Millions of yen %
   Fiscal year	644,600 (1.4)	23,500 5.3	30,500 0.4

   Net income attributable to owners of the parent	Basic earnings per share
   Millions of yen %	Yen
   Fiscal year	21,300 (22.3)	92.01

   (Note) Revision to earnings forecast: Yes

   Notes:

7. 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

8. Adoption of special accounting treatment in preparing the quarterly consolidated financial statements: None

9. Changes in accounting policies, changes in accounting estimates, and modifications and restatements:

10. Changes in accounting policies based on revision of accounting standards: None

11. Changes in accounting policies other than 1) above: None

12. Changes in accounting estimates: None

13. Modifications and restatements: None

14. Number of issued shares (Common stock)

15. Six months ended September 30, 2017	Year ended March 31, 2017
    1) Number of issued shares (including treasury stock) at end of the period (shares)	236,429,800	236,429,800
    2) Number of treasury stock at end of the period (shares)	4,783,449	5,405,228
    Six months ended September 30, 2016
    3) Average number of issued shares during the period (shares)	231,359,246	231,230,118

    This flash report is outside the scope of quarterly review. 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, 2018: (3) Explanation of Consolidated Financial Results Forecasts and Other Future Projections" on page 8.

    CONTENTS OF ATTACHMENT
16. QUALITATIVE INFORMATION ON CONSOLIDATED FINANCIAL RESULTS FOR THE SECOND QUARTER OF THE FISCAL YEAR ENDING MARCH 31, 2018 4
17. Explanation of Business Results 4
18. Explanation of the Financial Position 7
19. Explanation of Consolidated Financial Results Forecasts and Other Future Projections 8
20. CONSOLIDATED FINANCIAL STATEMENTS AND PRIMARY NOTES 9
22. Consolidated Balance Sheets 9
23. Consolidated Statements of Income and Consolidated Statements of Comprehensive Income 11
24. Consolidated Statements of Cash Flows 13
25. Notes to Consolidated Financial Statements 15
26. Segment Information 15
27. QUALITATIVE INFORMATION ON CONSOLIDATED FINANCIAL RESULTS FOR THE SECOND QUARTER OF THE FISCAL YEAR ENDING MARCH 31, 2018
28. (1) Explanation of Business Results

    The Japanese government's Monthly Economic Report on the Japanese economy for the six months ended September 30, 2017 (April 1, 2017 to September 30, 2017) states, "The economy is on a moderate recovery track. With the continuing improvement trend of the employment and income situation, along with the effect of various government measures, the moderate recovery trend is expected to continue in the future. However, attention should be paid to the uncertainty in overseas economies and the effects of fluctuations in the financial and capital markets." The report also states that the business outlook of corporations "is improving."

    Amid this economic environment, the consolidated net sales of Fuji Media Holdings Group (the "Group") decreased during the six months ended September 30, 2017, down 4.8% from the same period of the previous fiscal year to ¥311,816 million, as decreases in the Broadcasting, Life Information, Advertising and Urban Development segments offset increases in the Production, Video and Music and Other segments.

    In terms of earnings, operating income amounted to ¥11,669 million, down 12.3% year-on-year, because while increases in the Advertising and Urban Development segments were recorded, the Broadcasting, Production and Other segments showed decreases in income and operating losses were posted in the Video and Music and Life Information segments. Recurring profit decreased 11.8% year-on-year to ¥15,634 million, and net income attributable to owners of the parent decreased 8.8% year-on-year to ¥11,609 million.

    Results by operating segment are as follows.

    Six months ended September 30

    Net sales			Operating income (loss)
    2016	2017	Change	2016	2017	Change
    Millions of yen	Millions of yen	%	Millions of yen	Millions of yen	%
    Broadcasting	158,641	145,191	(8.5)	3,512	776	(77.9)
    Production	24,186	24,301	0.5	1,008	858	(14.9)
    Video and Music	23,134	23,418	1.2	180	(358)	―
    Life Information	61,738	61,679	(0.1)	(24)	(144)	―
    Advertising	22,199	21,524	(3.0)	132	200	51.2
    Urban Development	55,893	51,391	(8.1)	8,039	10,387	29.2
    Other	14,181	15,002	5.8	351	264	(24.6)
    Eliminations	(32,374)	(30,692)	―	100	(315)	―
    Total	327,601	311,816	(4.8)	13,301	11,669	(12.3)