Nippon Television : Financial Data Result for the Period ended March 31,2023

Nippon Television Holdings, Inc.

Consolidated Flash Report

Results for the fiscal year ended March 31, 2023 (FY 2022)

May 11, 2023

(Japanese GAAP)

Stock listing:

Tokyo Stock Exchange (Prime Section)

Code number: 9404

URL:https://www.ntvhd.co.jp/

Representative: Yoshikuni Sugiyama, Representative Director, Chairman

Information contact: Kozo Morita, President, Financial Management Division

Tel: [phone]

Schedule dates

General shareholders' meeting:

June 29, 2023

Dividends payout:

June 30, 2023

Filing of statutory financial report:

June 30, 2023

Supplementary materials to financial results available:

Yes

Result meeting held:

Yes

1. Results for the fiscal year 2022 (From April 1, 2022 to March 31, 2023)

(1) Consolidated operating results

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

Net sales

Operating profit

Recurring profit

(% change from the previous year)

(% change from the previous year)

(% change from the previous year)

Millions of yen

%

Millions of yen

%

Millions of yen

%

FY 2022

413,979

1.9

46,593

△20.6

51,775

△20.1

FY 2021

406,395

3.8

58,682

70.0

64,838

51.0

(Note) Comprehensive income: FY2022

¥ 1,532 million (△96.0%)

FY2021

¥ 38,258 million (△48.7%)

Net income attributable to

Net income

Diluted

Return

Total capital

Operating

owners of the parent

income

to recurring

profit

per share

on equity

(% change from the previous year)

per share

profit

margin

Millions of yen

%

yen

yen

%

%

%

FY 2022

34,081

△28.1

133.61

133.28

4.1

4.9

11.3

FY 2021

47,431

97.3

185.95

185.66

5.7

6.2

14.4

(Reference) Equity in earnings of affiliates: FY 2022 ¥ 903 million	FY 2021	¥ 3,133 million
(2) Consolidated financial position
	Total assets		Net assets		Equity capital	Net assets
				ratio	per share
	Millions of yen		Millions of yen			%	yen
FY 2022	1,035,501		843,585			80.8	3,280.35
FY 2021	1,061,571		850,825			79.6	3,311.63
(Reference) Equity capital: FY 2022 ¥ 836,759 million FY 2021	¥ 844,741 million
(3) Consolidated statements of cash flows
	Cash flows from	Cash flows from	Cash flows from		Cash and cash
		equivalents
	operating activities	investing activities	financial activities
		at end of year
	Millions of yen	Millions of yen		Millions of yen		Millions of yen
FY 2022	45,461	△23,724		△9,452		74,915
FY 2021	58,503	△70,534		△9,384		62,412

（Note）Regarding the business combination with Murayama HD and its subsidiary, Murayama, which took place on March 31, 2022, provisional accounting treatment was applied for FY2021. Each figure for FY2021 reflects the details of the finalized provisional accounting treatment.

2. Cash Dividends

Dividends per share

Total

Dividends

Net assets

1Q

2Q

3Q

Year-end

Annual

dividend

payout

to dividend

payout

ratio

ratio

yen

yen

yen

yen

yen

Millions

%

%

of yen

19.9

1.1

FY 2021

－

10.00

－

27.00

37.00

9,258

FY 2022

－

10.00

－

27.00

37.00

9,493

27.7

1.1

Forecast for FY 2023

－

10.00

－

27.00

37.00

25.5

3. Forecast for FY 2023 (From April 1, 2023 to March 31, 2024)

(percentages indicate year-on-year changes)

Net sales

Operating profit

Recurring profit

Millions of yen

%

Millions of yen

%

Millions of yen

%

FY2023

436,000

5.3

48,000

3.0

54,000

4.3

Net income attributable

Net income

to owners of the parent

per share

Millions of yen

%

yen

FY2023

37,000

8.6

145.05

＊Notes

1. Changes in significant subsidiaries during the period (Reclassification due to change in scope of consolidation): None
2. Changes in the accounting policies, accounting estimates and restatements.

• Changes in accounting policies due to amendment of accounting standards: Yes

• Changes in accounting policies other than ① : None

• Changes in accounting estimate: None
  ④ Restatement: None

1. Issued shares (Common stock)

• Issued shares at the end of period (Including treasury stock)

• Treasury stock at the end of period
  ③ Average shares

FY 2022	263,822,080	shares	FY 2021	263,822,080	shares
FY 2022	8,739,371	shares	FY 2021	8,738,721	shares
FY 2022	255,083,139	shares	FY 2021	255,083,445	shares

＊This flash report is outside the scope of audit 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.

Consolidated Financial Statements

Consolidated Balance Sheets

		(Million yen)
	As of March 31,2022	As of March 31,2023
Assets
Current assets
Cash and deposits	63,760	75,228
Notes and accounts receivable - trade, and contract	106,986	103,047
assets
Securities	76,500	28,000
Inventories	3,362	2,667
Program rights	4,369	6,919
Other	21,302	21,851
Allowance for doubtful accounts	(469)	(427)
Total current assets	275,812	237,285
Non-current assets
Property, plant and equipment
Buildings and structures, net	66,228	64,729
Machinery, equipment and vehicles, net	12,762	11,039
Tools, furniture and fixtures, net	2,813	2,673
Land	172,726	174,711
Leased assets, net	3,364	2,615
Construction in progress	1,821	1,198
Total property, plant and equipment	259,717	256,968
Intangible assets
Goodwill	12,888	11,894
Other	16,438	14,807
Total intangible assets	29,326	26,702
Investments and other assets
Investment securities	464,172	479,593
Long-term loans receivable	2,867	2,334
Deferred tax assets	2,916	3,314
Other	27,880	30,267
Allowance for doubtful accounts	(1,123)	(964)
Total investments and other assets	496,714	514,545
Total non-current assets	785,758	798,215
Total assets	1,061,571	1,035,501

		(Million yen)
	As of March 31,2022	As of March 31,2023
Liabilities
Current liabilities
Notes and accounts payable - trade	10,473	13,013
Short-term borrowings	2,580	3,084
Accounts payable - other	8,659	8,626
Accrued expenses	53,194	55,784
Income taxes payable	12,904	8,562
Provision for loss on store closings	-	758
Other	20,003	15,684
Total current liabilities	107,816	105,514
Non-current liabilities
Lease liabilities	11,211	9,608
Deferred tax liabilities	50,300	35,166
Retirement benefit liability	14,132	14,130
Long-term guarantee deposits	20,650	21,198
Other	6,635	6,297
Total non-current liabilities	102,929	86,402
Total liabilities	210,745	191,916
Net assets
Shareholders' equity
Share capital	18,600	18,600
Capital surplus	35,787	36,051
Retained earnings	681,577	706,394
Treasury shares	(9,098)	(9,099)
Total shareholders' equity	726,866	751,946
Accumulated other comprehensive income
Valuation difference on available-for-sale	117,817	84,515
securities
Deferred gains or losses on hedges	12	16
Foreign currency translation adjustment	45	280
Total accumulated other comprehensive income	117,875	84,812
Non-controlling interests	6,083	6,825
Total net assets	850,825	843,585
Total liabilities and net assets	1,061,571	1,035,501

Consolidated Statements of Income and Comprehensive Income

Consolidated Statements of Income

		(Million yen)
	For the fiscal year	For the fiscal year
	ended March 31,2022	ended March 31,2023
Net sales	406,395	413,979
Cost of sales	253,541	271,785
Gross profit	152,854	142,193
Selling, general and administrative expenses	94,172	95,600
Operating profit	58,682	46,593
Non-operating income
Interest income	1,138	1,712
Dividend income	1,967	2,006
Share of profit of entities accounted for using equity	3,133	903
method
Gain on investments in investment partnerships	430	709
Other	308	348
Total non-operating income	6,978	5,680
Non-operating expenses
Interest expenses	404	364
Foreign exchange losses	34	31
Loss on investments in investment partnerships	260	21
Other	122	81
Total non-operating expenses	822	498
Ordinary profit	64,838	51,775
Extraordinary income
Gain on sale of non-current assets	43	6
Gain on sale of investment securities	6,842	475
Grant income	896	4
Total extraordinary income	7,782	486
Extraordinary losses
Loss on sale of non-current assets	120	4
Loss on retirement of non-current assets	391	281
Loss on sale of investment securities	-	3
Loss on valuation of investment securities	23	382
Loss on step acquisitions	-	123
Impairment losses	2,175	1,582
Loss on COVID19	909	-
Provision for loss on store closings	-	758
Other	183	43
Total extraordinary losses	3,802	3,180
Profit before income taxes	68,818	49,082
Income taxes - current	20,710	15,269
Income taxes - deferred	581	(783)
Total income taxes	21,292	14,486
Profit	47,525	34,595
Profit attributable to non-controlling interests	93	514
Profit attributable to owners of parent	47,431	34,081