Nippon BS Broadcasting Corporation
9414・Standard Market・Information & Communication
Nippon BS Broadcasting (BS Digital Broadcasting Business, single segment)
A single-segment business entity centered on BS Digital Broadcasting, diversifying into streaming, anime, and other non-broadcasting fields
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (cumulative third quarter) | ¥8,851 million | ¥8,747 million | ↑ |
| Operating profit (cumulative third quarter) | ¥1,326 million | ¥1,544 million | ↓ |
| Operating profit margin (cumulative third quarter) | 15.0% | 17.7% | ↓ |
| Ordinary profit (cumulative third quarter) | ¥1,366 million | ¥1,567 million | ↓ |
| Quarterly net profit attributable to owners of parent (cumulative third quarter) | ¥921 million | ¥1,062 million | ↓ |
| Full-year revenue forecast | ¥12,576 million | ¥11,813 million | ↑ |
| Full-year operating profit forecast | ¥1,804 million | ¥1,932 million | ↓ |
| Equity ratio | 92.3% | 90.7% | ↑ |
| Quarterly net profit per share (cumulative third quarter) | ¥51.68 | ¥59.65 | ↓ |
| Other business revenue (cumulative third quarter) | ¥1,383 million | up 20.8% year on year | ↑ |
Business Details
Nippon BS Broadcasting (BS11, channel 211) operates as a satellite key broadcasting operator under the Broadcast Act, providing nationwide free general programming, and earns time revenue, spot revenue, and other revenue from advertisers. Subsidiaries Rironsha Co., Ltd. and Kokudosha Co., Ltd. handle children's book publishing, and the company also earns advertising revenue from parent company BIC CAMERA Inc. Under the key initiative "Value 4," the company is simultaneously pursuing maintenance of broadcasting business earnings and expansion of non-broadcasting fields such as streaming and anime.
Recent Overview
Revenue increased slightly, but operating profit declined significantly by 14.1% year on year due to higher expenses
For the cumulative third quarter of FY2026 (ending August 2026) (September 2025 to May 2026), revenue increased to ¥8,851 million (up 1.2% year on year), but expenses rose 4.5% year on year due to increased program production costs and advertising expenses associated with strengthened content investment, resulting in a significant decline in operating profit to ¥1,326 million (down 14.1% year on year). Broadcasting business revenue declined slightly to ¥7,469 million (down 1.8% year on year), while other business revenue was strong at ¥1,383 million (up 20.8% year on year). The full-year earnings forecast remains unchanged (revenue of ¥12,576 million, operating profit of ¥1,804 million).
Key Products
Growth Drivers
- Expansion of streaming business revenue (BS11+, TVer, etc.) and strengthening of content lineup
- Strong trend in anime production committee investment dividend income and expansion of the anime business earnings base (including strengthened online lottery (kuji) offerings through collaboration with Kotobukiya Co., Ltd.)
- Continued strong time revenue from public sports broadcasts such as horse racing relays
- Maintenance of the increasing trend in general advertising spot revenue (results of the daytime drama programming strategy)
- Expansion of large-scale event business (such as the Showa 100th Anniversary concert at the Nippon Budokan) and diversification of program-linked events
- Acceleration of proprietary IP content development (expansion of programs in genres such as golf, period dramas, and suspense dramas)
Risks
- Downward pressure on time revenue due to sluggish growth in the shopping category and mail-order spots
- Downward pressure on profit margin due to expanded content investment (increased program production costs and advertising expenses) (cumulative third quarter operating profit margin of 15.0%, down from 17.7% in the same period of the prior year)
- Structural risk of declining television media advertising spending due to the expansion of the video streaming service market (satellite broadcasting media advertising spending: 97.5% year on year)
- Risk of economic downturn due to sluggish personal consumption amid price increases driven by yen depreciation, and due to U.S. trade policy and geopolitical risks
- Customer concentration risk (Dentsu Inc. 19.8%, Jupiter Shop Channel Co., Ltd. 17.9%, with the top two companies combined accounting for 37.7%)
- Impact on the valuation of investment securities due to fluctuations in financial and capital markets
Last updated: November 18, 2025