TBS : FY2023 Consolidated Financial Results （Fiscal Year Ended March 31, 2024）

FY2023 Consolidated Financial Results

(Fiscal year ended March 31, 2024)

May 14, 2024

2024年5月14日

Contents

FY2023 Results

FY2024 Full - year Forecasts

Shareholder Returns

TBS Groupe Medium - Term Management Plan 2023 Results

References

Disclaimer

Forward-looking statements on future results and all other content in this document are based on the Company's judgment at the time of publication. This document does not assure or guarantee that the stated numerical plans and measures will be achieved. Risks and uncertainties are inherent in this document.

Please note that future results may differ materially from statements herein, depending on changes in factors, including economic circumstances, market trends and business conditions.

◇ For inquiries
IR Dept. TBS Holdings, Inc. 5-3-6 Akasaka, Minato-ward, Tokyo 107-8006	Japan
Tel. [phone](switchboard) HP: https://www.tbsholdings.co.jp/ir/

2

FY2023 Results

FY2024 Full - year Forecasts

Shareholder Returns

TBS Groupe Medium - Term Management Plan 2023 Results

References

3

This Year

Share price trend

230

220

210

200

190

180

170

160

150

140

130

120

110

100

90

TBS	TOPIX	* Comparison sets the share prices and indexes on April 3, 2023 as 100.	Mar 29, 2024 (closing price)
4,359 yen
		Aug 3	Nov 10
		2023-Q2
		2023-Q1
		Financial Results
		Financial Results
	May 12	announced
	announced
	FY2022
	Financial Results
	announced		Feb 8
			2023-Q3
			Financial Results
			announced

Apr 7, 2023 (closing price)

1,883 yen

									Nikkei Stock
	COVID-19 reclassified		World Athletics		Asian Games		Noto Peninsula		Average hits
	to Category 5		Championship Budapest		Hangzhou, China		Earthquake		40,000 yen for
2023									the first time
					2024

Apr	May
Apr 21	May 9
Amazon Original	Transcription editor
"Takeshi's Castle"	"Mojiko" wins Leader

begins global streaming. at the ITreview Grid Award 2023 Spring.

May 14

Held the sixth "Week to Make the Earth smile", a project for

Jun	Jul	Aug	Sep	Oct	Nov
Jun 22	Jul 5	Aug 31	Sep 22	Oct 8	Nov 6
Netflix original	"TBS GAMES"	TBS Group	"Media Branch" and	New anime slot	Notice regarding
drama series	launches teaser site,	Integrated Report	"Meta-Assigned AI	established across	expected
"Let's Get Divorced"	entering the game	2023 published	Platform" win the	28 national stations	extraordinary
begins global	business.		Japan Commercial		income (a gain on
streaming.			Broadcasters	Oct 16	sale of investment
Jun 29			Association Awards	SASUKE-based event	securities)
		for Excellence.	adopted for the	announced
Partnership				2028 Los Angeles
agreement signed				Olympics.	Nov 10
with then Usen-Next					Notice Regarding

Dec	Jan	Feb
Dec 1	Jan 1	Feb 6
M6, a studio	New Year Ekiden	First Japanese
dedicated to THE	broadcast with	broadcaster to
SEVEN, completed	virtually zero CO2	receive a B grade
Dec 11	emissions	from the
Jan 4	international
Announcement of	evaluation standard
the enhancement of	Key visual for brand	CDP for climate
the Shareholder	message, "Moments	change-related
Special Benefit Plan	in motion." created	disclosure.

Mar

Mar 4

SLH acquires 100% of KNT365 shares.

Mar 11

First commercial broadcaster recognized as a 2024 Certified Health & Productivity Management Organization (White 500).

the SDGs

Holdings based on		Oct 25	Decision of Matters
strengthened capital
	TBS Group's new	Related to
and business
	common ID service	Acquisition of
alliance
	TBS ID introduced	Treasury Stock and
Jun 29			Cancellation of
		Treasury Stock
Invests in YARUKI			announced
Switch Group
Holdings and makes			Nov 28
it a consolidated	Oct 2	Nov 5	Establishment of a
subsidiary	Human Rights
	Brand message,	Held the seventh	Subcommittee and
	"Moments in motion."	"Week to Make the
	implementation of
	created	Earth smile", a
	human rights due
		project for the SDGs
		diligence announced

Dec 23	Jan 25	Feb 15	Mar 13
Studio TooN launches	Capital and business	THE SEVEN agrees on	New construction
its first serial on LINE	alliance agreed with	international co-	begins on Akasaka 2-
Manga.	Shochiku Co., Ltd.	production with	chome and 6-chome
		Permut Presentations	district
Dec 25			redevelopment
Selected for the first			project.
time to be a			Mar 29
constituent of the
		Capital participation
FTSE Blossom Japan
		in VFX creator group
Sector Relative Index
		Megalis

4

Summary

FY2023 Results

• On a consolidated basis, revenue increased but operating income and ordinary income decreased.
  Net income attributable to owners of the parent increased due to an increase in gain on sales of investment securities and other factors.
  Highest full-year revenue ever.
• In the Media and Content business, revenue from Spot ad decreased but Streaming ad Revenue and Paid Subscription Streaming Revenue increased significantly. Revenue increased thanks to the blockbuster success of movies and a significant increase in sales of DVD packages.
  In contrast, income fell mainly due to increased program production expenses, in addition to lower broadcasting revenues.
• In the Lifestyle business, both revenue and income increased with the new consolidation of YARUKI Switch Group Holdings. In the Styling Life Group, both revenue and income increased due to the growth in cosmetics and miscellaneous goods.
• In the Real Estate and other businesses, both revenue and income rose due to an increase of lease revenue.

FY2024 Full - year Forecasts

• While broadcasting revenues are expected to remain at the same level as the previous year, the Company is forecasting an increase both in revenues and operating income mainly due to the expansion of streaming businesses, the growing business domain, and the growth in the General Merchandise, Beauty and wellness segments of StylingLife Group, and YARUKI Switch Group.
• Accelerate growth through the EDGE expansion strategy to widen the portfolio of content in the first fiscal year of the TBS

Group Medium-Term Management Plan 2026.	5

FY2023 Consolidated statement of income

																																Unit: million yen
		Consolidated									FY22					FY23			y/y change				y/y change (%)
			Revenue															368,130			394,309				+26,179		+7.1%
	Operating income														20,782			15,175				-5,607		-27.0%
		Ordinary income														35,086			27,653				-7,433		-21.2%
			Net income
			attributable to														35,182			38,126				+2,944		+8.4%
	Owners of the Parent
				Revenue				Q1		Q2		Q3		Q4					Operating income					Q1		Q2		Q3		Q4		TOTAL
								394,309
					368,130											20,346			20,782
356,796		358,269
325,682
						98,844
						91,983
87,464			88,951																				15,175
	87,458
																			13,103
										104,652
92,451			97,237		97,283									10,841				10,087
	88,835															8,765	8,604
																					7,647	7,227		8,298
										96,036									5,828		6,873
88,391			85,665		89,898					4,985	4,754
	80,269											3,584
																								2,879		1,869
																		1,818	1,544
																		938
88,488		69,118	86,415		88,964	94,777														588
																						2020 -1,328						2023 -1,8666
2019		2020	2021		2022	2023						2019				2021 -2,851	2022

Consolidated results by segment

Unit: million yen

External Revenue

Operating income

FY22

FY23

Y/Y

Y/Y (%)

FY22

FY23

Y/Y

Y/Y (%)

Media and

285,230

287,854

+2,624

+0.9%

10,911

3,927

-6,983

-64.0%

Content

Lifestyle

66,391

89,903

+23,511

+35.4%

3,064

4,178

+1,113

+36.3%

Real Estate

16,508

16,552

+43

+0.3%

6,798

7,066

+268

+3.9%

and others

Adjustments

―

―

―

―

8

3

-5

―

Consolidated

368,130

394,309

+26,179

+7.1%

20,782

15,175

-5,607

-27.0%

Factors affecting

External Revenue

Operating income

Changes

Media and

TC Entertainment（+1,926）

NICHION（+668）

TBS HD（+1,247）

TBS GLOWDIA（+876）

Content

TBS GLOWDIA（+452）

TBS TV（-574）

TBS TV（-7,628）

Lifestyle

YARUKI Switch Group（+17,666）

YARUKI Switch Group（+705）

StylingLife Group（+5,844）

StylingLife Group（+408）

Real Estate

TBS TV（+624）

TBS HD（+328）

TBS HD（+543）

TBS TV（+447）

and others

Midoriyama Studio City（-839）

Midoriyama Studio City（-263）

7

Consolidated results :Contributing factors to fluctuations in revenue (external)

Revenue

Increase

Decrease

（Unit: million yen）

Media and Content	Lifestyle	Real Estate
And others

8

Consolidated results :Contributing factors to fluctuations in Operating income

Operating income	Increase	Decrease		（Unit: million yen）
		Media and Content	Lifestyle	Real Estate
		And others

9

Year-Over-Year change by segment

Unit: million yen

Media

and

Content

Lifestyle

Real Estate

and

others

External Revenue						Q1				Q2				Q3					Q4
270,265		281,414		285,230		287,854
253,778
67,635	70,292		71,722			70,278
69,145
70,709	68,854	76,298		75,305			76,205
65,057	60,746	66,593		69,374			67,500
66,862	55,032	68,230		68,827			73,869
2019	2020	2021		2022			2023
External Revenue				Q1				Q2				Q3				Q4
													89,903
70,007				66,391		24,471
15,730	55,983	61,023		16,112
14,636				24,322
17,617	14,362
		17,772
	16,993
			15,909
															24,362
19,149			16,407
15,504	15,160
	17,510			16,098			16,746
10,207	14,234
2019	2020	2021		2022			2023
External Revenue			Q1			Q2			Q3			Q4
		16,508		16,552
16,523	15,920	15,831
4,097	3,950	4,022		4,148			4,094
4,125	4,072	3,946		4,205			4,124
4,185	4,019	3,912		4,116			4,172
4,115	3,878	3,950		4,038			4,160
2019	2020	2021		2022			2023

		Operating income								10,933					Q1				Q2					Q3				Q4				TOTAL
														10,911
											6,216		5,451			7,249											5,434
								4,788				4,260														4,052					3,927
	2,454	2,142	2,409	2,475	2,881	2,697
						79
	-1,846		-341	-2,234	-2,147			2021 -3,432						-677						-2,192				-3,366
			2019			2020					2022											2023
		Operating income														Q1				Q2					Q3				Q4				TOTAL
																																	4,178
						2,751								2,362						3,064
															998											2,042
	1,589								1,225
				1,039721		1,235		1,009	1,281											1,199
				728													671
	473				281	533																						264
						-39			-575				-632						-225
							-904
			2019		2020				2021			2022											2023
	Operating income														Q1				Q2				Q3				Q4				TOTAL
						7,942				7,679				7,062						6,798											7,066
	2,076	1,924	2,132	1,388	1,905	1,225	1,804	1,490							2,018	1,236
	2,057	1,883			2,014	2,144		2,014		1,917		1,946	1,557									2,146	1,664
			2019				2020				2021			2022											2023		10