Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Nine Months Ended December 31, 2020
(Based on Japanese GAAP)
January 29, 2021
Company name:
WOWOW INC.
Stock exchange listing: Tokyo
Stock code:
Representative:

4839
URL https://www.wowow.co.jp
Representative Director, President & CEO
Akira Tanaka

Inquiries:

General Manager Human Resources&General Affairs Division

Mototaka Yamaguchi

Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:

February 15, 2021–

Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results meeting:

Yes
Yes

TEL

03-4330-8080(for institutional investors, analysts and the press)(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the nine months ended December 31, 2020 (from April 1, 2020 to December 31, 2020)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Nine months ended December 31, 2020
59,187(4.0)
10,22031.8
10,401
26.6
6,999
22.4
Nine months ended December 31, 2019
61,640
0.4
7,755
14.7
8,218
12.3
5,719
14.2
Earnings per share

Diluted earnings per share

Yen
259.05211.89Nine months ended December 31, 2020
Nine months ended December 31, 2019

Yen––(2) Consolidated financial position
Total assets

Net assets

Millions of yen
93,93090,024As of December 31, 2020
As of March 31, 2020

Equity ratio

Millions of yen
65,43260,555

%
69.7
67.3

2. Cash dividends
Annual dividends per share

Year ended March 31, 2020
Year ending March 31, 2021

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––Yen
0.00
0.00

Yen––

Yen
80.00

Yen
80.00

80.00

80.00

Year ending March 31, 2021 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2021 (from April 1, 2020 to March 31, 2021)
Net sales
Full year

Millions of yen
78,800Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
Earnings per shareowners of parent% Millions of yen% Millions of yen% Millions of yen%
Yen
(4.4)
4,800 (43.5)
5,000 (45.8)
3,300 (34.9)
122.11

1

4. Notes(1) Changes in significant subsidiaries during the nine months ended December 31, 2020(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:

No
No

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2020

28,844,400 shares As of March 31, 2020

28,844,400 shares

Number of treasury shares at the end of the period
As of December 31, 2020

1,805,742 shares As of March 31, 2020

1,853,318 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Nine months ended December 31, 2020

27,019,328 shares Nine months ended December 31, 2019

226,991,082 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2020

As of December 31, 2020

AssetsCurrent assets
Cash and depositsNotes and accounts receivable - trade

29,7035,550

28,022
5,071

Merchandise and finished goods
Broadcasting licenses

48
21,856

61
23,906

80
41

1448

Other
Allowance for doubtful accounts

2,864
(100)

2,630(78)

Total current assets

60,04559,676

Buildings and structures, net
Machinery and equipment, net

4,753
2,215

5,028
3,171

Tools, furniture and fixtures, net
Construction in progress

1,153
37

1,482
2,102

Work in process
Supplies

Non-current assets
Property, plant and equipment

Other, net

60

50

8,220

11,835

Leasehold interests in landGoodwill

5,011
606

5,011556

Other

4,246

4,857

Total intangible assets

9,864

10,424

Investment securities
Deferred tax assets

8,758
2,120

8,732
1,912

Other
Allowance for doubtful accounts

1,041(27)

1,563
(214)

Total investments and other assets

11,894

11,99329,97934,25390,024

93,930Total property, plant and equipment
Intangible assets

Investments and other assets

Total non-current assets
Total assets3

(Millions of yen)
As of March 31, 2020

As of December 31, 2020

Liabilities
Current liabilities
Accounts payable - trade

18,76918,100

Income taxes payable
Provision for bonuses

1,578
153

1,913
78

Other

6,116

5,749

Total current liabilities

26,617

25,842

2,152
697

2,020
634

Non-current liabilities
Retirement benefit liability
Other
Total non-current liabilities

2,850

2,655

29,46828,498

Shareholders' equity
Share capital

5,000

5,000

Capital surplus
Retained earnings

2,738
55,6782,777
60,518

Total liabilities
Net assets

Treasury shares(3,081)(3,002)

Total shareholders' equity

60,33465,292

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

16357261(121)

Remeasurements of defined benefit plans

(0)

(0)

Accumulated other comprehensive income

Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

4220

139

60,55565,43290,024

93,930Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)
Nine months ended

Nine months ended

December 31, 2019

December 31, 2020

Net sales
Cost of sales61,640
34,501

59,18729,923Gross profit

27,13829,264

Selling, general and administrative expenses

19,382

19,044

Operating profit

7,755

10,220Interest income
Foreign exchange gains

18152

853

Share of profit of entities accounted for using equity method
Subsidy income

213
14165
83

Other

71

68

Total non-operating income

469

377–
7189
6

Non-operating income

Non-operating expenses
Provision of allowance for doubtful accounts
Other
Total non-operating expenses

7196

8,218

10,401Gain on sales of non-current assets

00

Total extraordinary income00

Loss on retirement of non-current assets
Loss on sales of non-current assets

8033–

Loss on valuation of shares of subsidiaries and associates
Loss on valuation of golf club membership

–0177
–

Total extraordinary losses

8210

Profit before income taxes

8,209

10,190

Income taxes - current
Income taxes - deferred

2,411
79

3,043
148

Total income taxes

2,490

3,191

Profit

5,719

6,999

Profit attributable to owners of parent

5,719

6,999

Ordinary profit
Extraordinary income

Extraordinary losses

5Consolidated statements of comprehensive income (cumulative)(Millions of yen)

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities accounted
for using equity method
Total other comprehensive income

Nine months ended

Nine months ended

December 31, 2019

December 31, 2020

5,719

6,999

(54)
(7)

98(123)

00(6)

(55)

(67)

(80)

Comprehensive income

5,651

6,918

Comprehensive income attributable toComprehensive income attributable to owners of parent

5,651

6,918

6