May 13, 2021

Flash Report [Japanese GAAP] (Consolidated Basis)

Results for the fiscal year ended March 31, 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, Senior Executive Managing Officer and General Manager of Treasury & Finance Department

Telephone: +81-3-3570-8000 (key)

Scheduled date of the General Meeting of Shareholders: June 25, 2021

Scheduled date of commencing dividend payments: June 28, 2021

Scheduled date of filing securities report: June 25, 2021

Availability of supplementary briefing material on financial results: Available

Schedule of financial results briefing session: Scheduled

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

1. Consolidated Financial Results

(1) Business Performance

Years ended March 31

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

519,941

(17.7)

16,274

(38.2)

22,295

(36.0)

10,112

(75.5)

2020

631,482

(5.6)

26,341

(24.1)

34,854

(17.0)

41,307

74.8

(Note) Comprehensive income: Year ended March 31, 2021: ¥58,254 million, 236.9%,

Year ended March 31, 2020: ¥17,292 million, (48.8)%

Basic earnings per

Diluted earnings per

Rate of return on

Recurring profit-to-

Operating income-

share

share

equity

total-assets ratio

to-net-sales ratio

Yen

Yen

%

%

%

2021

44.31

―

1.3

1.7

3.1

2020

178.44

―

5.6

2.7

4.2

(Reference) Equity in earnings of affiliates: Year ended March 31, 2021: ¥2,347 million, Year ended March 31, 2020: ¥¥5,182 million

  1. Financial Position
    At March 31

Total assets

Net assets

Equity ratio

Net assets per share

Millions of yen

Millions of yen

%

Yen

2021

1,336,042

784,429

57.9

3,479.47

2020

1,254,613

745,574

58.6

3,179.13

(Reference) Total shareholders' equity: March 31, 2021: ¥774,011 million, March 31, 2020: ¥735,431 million

  1. Cash Flows
    Years ended March 31

Cash flows from

Cash flows from

Cash flows from

Cash and cash

equivalents at end of

operating activities

investing activities

financing activities

year

Millions of yen

Millions of yen

Millions of yen

Millions of yen

2021

45,844

(26,613)

20,395

118,591

2020

16,854

(33,907)

8,388

79,970

1

2. Dividends

Years ended March 31, 2020 and 2021 / Year ending March 31, 2022

Dividends per share

Total amount

Dividends-to-

of dividends

Payout

net assets

1Q

2Q

3Q

Year-end

Total

(for the entire

ratio

ratio

fiscal year)

Yen

Yen

Yen

Yen

Yen

Millions of yen

%

%

2020

―

22.00

―

22.00

44.00

10,304

24.7

1.4

2021

―

18.00

―

18.00

36.00

8,229

81.2

1.1

2022

―

18.00

―

18.00

36.00

46.0

(Forecast)

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

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

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

  1. Changes in accounting policies based on revision of accounting standards: None
  2. Changes in accounting policies other than 1) above: None
  3. Changes in accounting estimates: None
  4. Modifications and restatements: None

2

3. Number of issued shares (Common stock)

Years ended March 31

2021

2020

1)

Number of issued shares (including treasury stock) at

234,194,500

234,194,500

end of fiscal year (shares)

2)

Number of treasury stock at end of fiscal year (shares)

11,743,558

2,863,495

3)

Average number of issued shares during the fiscal

228,223,747

231,488,297

year (shares)

(Reference) Flash Report (Non-Consolidated Basis)

Non-Consolidated Financial Results for the Fiscal Year ended March 31, 2021

(1) Business Performance

Years ended March 31

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

Net sales

Operating income

Recurring profit

Net income

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

2021

27,182

49.2

20,561

78.3

23,338

57.6

29,128

74.1

2020

18,222

43.7

11,533

85.7

14,812

39.9

16,735

49.2

Basic earnings

Diluted earnings per

per share

share

Yen

Yen

2021

126.03

―

2020

71.46

―

  1. Financial Position
    At March 31

Total assets

Net assets

Equity ratio

Net assets per share

Millions of yen

Millions of yen

%

Yen

2021

825,203

570,955

69.2

2,533.59

2020

752,182

517,643

68.8

2,210.32

(Reference) Total shareholders' equity: March 31, 2021: ¥ 570,955 million, March 31, 2020: ¥517,643 million

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. Regarding the assumptions forming the forecast of financial results, please refer to "1. OVERVIEW OF BUSINESS RESULTS, ETC.: (4) Future Outlook" on page 9.

3

CONTENTS OF ATTACHMENT

1. OVERVIEW OF BUSINESS RESULTS, ETC.

5

(1)

Overview of Business Results for the Fiscal Year under Review

5

(2)

Overview of Financial Position for the Fiscal Year under Review

8

(3)

Overview of Cash Flows for the Fiscal Year under Review

8

(4)

Future Outlook

9

(5) Basic Policy Regarding Profit Allocation and Dividends in the Fiscal Year under

Review and the Next Fiscal Year

10

2. BASIC STANCE ON SELECTION OF ACCOUNTING STANDARDS

10

3. CONSOLIDATED FINANCIAL STATEMENTS AND PRIMARY NOTES

11

(1)

Consolidated Balance Sheets

11

(2)

Consolidated Statements of Income and Consolidated Statements of

Comprehensive Income

13

(3)

Consolidated Statements of Changes in Net Assets

15

(4)

Consolidated Statements of Cash Flows

19

(5)

Notes to Consolidated Financial Statements

21

(Note on Assumptions for Going Concern)

21

(Changes in Presentation)

21

(Segment Information)

23

(Amounts per Share)

26

(Significant Events after the Reporting Period)

26

4

1. OVERVIEW OF BUSINESS RESULTS, ETC.

(1) Overview of Business Results for the Fiscal Year under Review

The Japanese government's Monthly Economic Report on the Japanese economy for the fiscal year ended March 31, 2021 (April 1, 2020 to March 31, 2021) states, "Concerning short-term prospects, the economy is expected to pick up, supported by the effects of the policies and improvement in overseas economies, while the socio-economic activities will be resumed with taking measures to prevent the spread of infectious diseases. 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 "show movements of picking up, although some severe aspects remain."

Fuji Media Holdings Group (the "Group") was also affected to no small extent by the impact of the novel coronavirus infection (COVID-19) during the fiscal year under review, including a decline in advertising revenue, a drop in travel and tourism demand, and the cancellation and postponement of events. However, there was also demand arising from an increase in opportunities to stay at home.

Amid this economic environment, the consolidated net sales of the Group decreased overall during the fiscal year under review, down 17.7% from the previous fiscal year to ¥519,941 million, as there were decreases in both the Media & Content segment and the Urban Development, Hotels & Resorts segment.

In terms of earnings, operating income decreased 38.2% year-on-year to ¥16,274 million, as there were revenue decreases in both the Media & Content segment and the Urban Development, Hotels & Resorts segment. Recurring profit decreased 36.0% year-on-year to ¥22,295 million, and net income attributable to owners of the parent decreased 75.5% year-on-year to ¥10,112 million, due to a reactionary decrease as a result of posting a gain on return of substitutional portion of employees' pension fund in the previous fiscal year and an increase in impairment loss recorded as an extraordinary loss, despite an increase in gain on sales of investment securities recorded under extraordinary gain.

Results by operating segment are as follows.

Years ended March 31

Net sales

Operating income

2020

2021

Change

2020

2021

Change

Millions of yen

Millions of yen

%

Millions of yen

Millions of yen

%

Media & Content

515,334

439,466

(14.7)

13,924

13,723

(1.4)

Urban Development,

110,749

76,048

(31.3)

13,706

3,728

(72.8)

Hotels & Resorts

Other

19,335

17,510

(9.4)

595

444

(25.3)

Eliminations

(13,936)

(13,083)

―

(1,885)

(1,622)

―

Total

631,482

519,941

(17.7)

26,341

16,274

(38.2)

5

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Fuji Media Holdings Inc. published this content on 27 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 May 2021 02:02:01 UTC.