フジ・メディア・ホールディングス

2023

May 2023

1.
2.
Table of 3.
Contents 4.
5.
6.

Review of the last Medium-Term Strategy Plan
(FY2018-FY2020) and Results

01．

Basis of our Medium-Term Group Vision
03．

Overall Growth Strategies
Overall Growth Strategy Reflecting the Changing Business Environment/
Growth Strategies for Media & Content Segment/
Growth Strategy for Urban Development, Hotels & Resorts Segment

04．

Growth Investment and Shareholder Returns
Investing for Growth/Promoting Shareholder Returns/Improving Return on
Capital/Improving Governance Structure/Strengthening Human Assets

Sustainability/Addressing Climate Change

０7．

08．

Performance Targets
Consolidated and Segment Operating Income Targets

09．

1.

Paint Your World Brighter and Colorful

Review of the last Medium-Term Operating Strategy (FY 2018-FY2020)
前回中期経営計画(2018年度-2020年度)
レビューとその後の実績 ［定量目標］
and Results［QuantitativeTarget］

Previous Target ＜FY 2020＞（億円）

Consolidated Operating Income ¥ 32.5 Billion（Billions of yen）

FY2020(FY3/21)

ConsolidatedOperating Income

PreviousTarget

Result３２.５

16.3

FY2021

FY2022(FY3/22)(FY3/23)

ResultResult

33.3

31.4

Media & Content

２１.８

13.7

23.1

17.5

Urban Development,Hotels & Resort

１１.５

3.7

11.2

15.1Other

0.５

0.4

0.7

0.9

≪Quantitative Target Withdrawn
Due to Covid-19≫◼ We withdrew financial target in FY 2020,the last year of the previous financial
strategy, due to uncertain outlook causedby the rapid spread of Covid-19 mainly intourism business.

◼ In the last three years, we have promoted
initiatives for post-pandemic growth. Ourconsolidated operating income in 2021,
which was the year after the expiration of
the previous medium-term plan, surpassed
targets despite operating under theeffects of Covid-19.

1.

Paint Your World Brighter and Colorful

Reviewof
ofthe
thelastlastMedium-TermMedium-TermOperating
OperatingStrategy
Strategy(FY(FY 2018-FY2020)
Review2018-FY2020)
前回中期経営計画(2018年度-2020年度)
レビューとその後の実績［定量目標］
andResults［QualitativeResults［QualitativeTarget］
Target］
andBusiness
Portfolio

Theme
Redefine and Strengthen
Business Portfolios
Reassess Group’s BusinessStructure◼ Urban Development, Hotels & Resorts, improved its basic earnings power by increasing strategic investments.
It has grown into a foundational segment of the Group with approximately ¥15 Billion in profit.
◼ Sold Cecile Business of Dinos (FY2020) following the sale of Sankei Living Shimbun (March 2018)◼ Have made Grape, a web media company, a consolidated subsidiary, which has been positively impacting theconsolidated results

Strengthening the Businessand Restructuring Fuji TV◼ Expanding broadcasting revenue by increasing viewer rating and spot ad share remains a challenge◼ AVOD such as TVer, has claimed the Triple Crown, with significant growth in revenue. Paid subscription for
FOD has surpassed 1 Million（FY2022）◼ Contents Business, headed by movie business, has grown significantly. Profit from the movie businessmarked its highest level in history of the company. （FY 2022)◼ Concentrated offices into the Headquarter building, reducing fixed costs (FY 2022)◼ Implemented “Next Career Support” voluntary retirement program. Rebalanced personnel composition（FY 2021）

Grow Media & Content
Business’s Earnings◼ Earning sources of various companies have expanded. Operating income for Media & Content businesses
excluding Fuji TV surpassed ¥10 Billion for the first time. （¥11.8 Billion for FY2021）◼ Streaming and digital business grew at various companies. Content production for streaming services
increased at production companies, audio streaming business has grown for Nippon Broadcasting System,
revenues from non-physical sales have expanded to over 70% of overall revenue at Pony Canyon.

Growth Strategy for Urban
Development, Hotels &Resorts◼ Diversified asset types by developing high-demand assets such as logistics center, data center, and hotel
condominiums.
◼ GRANVISTA Hotels & Resorts, which had been recording losses due to the impact of the pandemic, turned
profitable in FY 2022 for the first time in four years. Kamogawa Sea World contributed with record settingprofit.
◼ Proceeding redevelopment of a large-scale aquarium in Kobe, which is expected to become one of thepillars of revenue source. Opening planned in June 2024.
◼ Executed capital increase of ¥20 Billion to Sankei Building in March 2023

Capital Management Policyand Governance for Reform◼ Implemented repurchase of own shares of ¥10 Billion（FY2020）◼ Sold strategic shareholdings cumulative of ¥50 Billion （FY2018～2022）◼ Transitioned to Company with Audit and Supervisory Committee, and to governance structure with over
1/3 of independent outside directors（FY2020）◼ Planning to establish Management Advisory Committee （June 2023）

Media &Content

UrbanDevelopment,

Hotels &Resorts

CapitalManagement
Policy/Governance

Review2.

Paint Your World Brighter and Colorful

Basis of Our Medium-Term Group Vision

We consider “Content” to encompass not only popular TV programs andentertainment but also everything that enriches and brightens people's lives
and hearts. This includes products, services, information, living spaces, andeven extraordinary events and experiences that shape everyday life.
Our goal is to “grow and evolve” by delivering these contents through media,
distribution channels, and delivery methods that are tailored to eachindividual’s lifestyle.

“ Grow and Evolve ”
Fuji Media Holdings, Inc.

3.

Growth Strategies Reflecting the Changing Business Environment
The Diversification of Lifestyles Due to Societal Changes and Advancements inTechnology has Further Accelerated through the Covid-19 pandemic.

In order to meet personalized needs, we aspire to not only further enhance our “Contents” , butalso broaden the range of content and services offered through multiple media and distribution
channels, expanding our business scope.
Boost the Production of Profitable Hit Contents

Expand the Scopes of Contents

Improve content producing environment andDevelop IP contentsBusiness development and promotion byleveraging group synergy and nextgeneration technologies

Drive large-scale developments in Urban
Development, Hotels & Resorts segment

Broaden Media/
Distribution Channel/Delivery Means
Develop, acquire and utilize new streaming/
web media
Strengthen Relationships with Customers/Fans

Revitalize the Daiba area

Expand Business Area
Accelerate the Global Expansion of InHouse Contents and Products
Strengthen our ability of capture inbounddemand3.

Paint Your World Brighter and Colorful

Growth Strategies for Media & Content Segment

Create and Expand Multiple Contact Points with Customers◼ Reinforce the Value of Broadcast Ads└ Strive to increase ad shares by enhancing
programs’ values└ Develop new ad products◼ Expand Our Streaming Businesses└ Promote combined sales and promotion ofbroadcast and streamingLine Up Diverse Contents
for Any Scene in a Day, 24/7

Strengthen Production System that
Generates Hit Contents◼ Strengthen Content Production
Structure through Creator
Development and Community Building◼ Reinforce Inter-Segment and IntraGroup Cooperation◼ Acquire and Develop Human Assets,such as Global Marketers◼ Explore New Web Media following “grape”◼ Further Digitally Utilize News/Information
Contents through services such as“FNN Prime Online”◼ Expediate Overseas Expansion, such as
Cultivating New distribution channels◼ Enhance our Brand by Reinforcing Fan Marketingand Improving Usability◼ Develop Business that Utilize Contents’ User IDs

Actualize a Business Cycle that
Enhances Consumers’
Experiential Value

Accelerate Investments
to Strengthen Contents◼ Greater Investments in Creation of New IP,
Growth or Venture Businesses└ Develop dramas, music titles, and comics IPs└ Develop businesses utilizing next-gen technologies
that compliments existing entertainment businesses◼ Promote Continuous Structural Reform└ Invest managerial resources with higher efficiency

3.

Growth Strategies for Urban Development, Hotels & Resorts

Expand Investments
in UrbanDevelopment/Tourism Business◼ Executed Capital Increase of ¥20 Billion to Sankei Building in March 2023
◼ Increased Borrowing with Capital Increase, Utilized for Growth Investment toBecome a Driving Force for the Group’s Improved Financial Results◼ Will Promptly Raise Sankei Building Group’s Operating Income Level to ¥20 Billion◼ Will Maintain a Certain Level of Financial Discipline and Continue to Ensure
Financial Soundness◼

CaptureRebounding
Domestic andIn-BoundTourism

2024 Debut
KOBE SUMA SEA WORLD◼

◼
◼

◼

Expand GrowthInvestmentwith CapitalExpansion◼
◼
◼

Grand Opening of KOBE SUMA SEA WORLD in
June 2024
Resume Hotel Development to Meet
Recovering Demands
Establish Redevelopment Plans for Two
Major Hubs in Sapporo
Consider and Prepare for Participation inMICE/IR
Discover Large Scale Development Projects on
Par with Hareza Ikebukuro、Hommachi
SankeiBuilding、or KOBE SUMA SEA WORLD
Further Enhance New Types of Asset following
Logistics Facilities and Data Centers
Develop Media Synergistic Entertainment Domain
like the Next-Gen Live Theater「harevutai」
Reinforce Real Estate/ Redevelopment
Businesses

4.

Paint Your World Brighter and Colorful

Growth Investment and Shareholder Returns

Investment for Growth◼ Promote growth investment byreassessing and strategicallyutilizing the balance sheet
Expand external borrowings to invest ingrowth, setting the lower limit at 50% incapital ratio.
Promote capital allocation to invest
in growth and return to shareholders
based on cash generation from earnings,
external borrowings, and review ofportfolio assets.

◼ Reassess strategic shareholdings andemploy them for growth investment
Aim to reduce strategic shareholdings toless than 20% of invested capital (sum ofnet assets and interest-bearing liabilities)（20.2％ at the end of FY2022）

Promote Shareholder Returns

Improve Governance Structure

Improve Returns on CapitalStrengthen Human Assets◼ Aim to improve capital efficiency
by maintaining stable dividends
and flexible share repurchase◼ Will set up Management Advisory
Committee headed by independent
outside director and majority of theboard filled by independent outsidedirectors (June 2023)

Resolved to repurchase up to ¥10 Billion
own shares in May 2023

◼ Improve returns on capital byincreasing profit through growthinvestment and structural reform
along with above effort◼ Aim for higher PBR by improving
return on capital, prospecting forgrowth and promoting shareholder
returns◼ Female manager Ratio Target:
Over 30% by FY2030* 19% at present(for group companies with over 301 employees)◼ Acquire and develop diverse humanassets that can contribute to therealization of the growth strategy
and new value creation

5.

Paint Your World Brighter and Colorful

Sustainability/ Responding to Climate Change

GHG (Greenhouse Gas) Emissions
Group*1 Reduction Target（ｔCO２）

１０％Less

Reduce Emissions by 50%*2 by FY2030
Achieve Carbon Neutral by FY2050
40,00050％Less*1) Fuji TV・Sankei Building・DINOS CORPORATION*2) as compared to 2013

Fuji TVSankei
BuildingDINOSCORPORATIONWill offset carbon emissions produced by use ofelectricity (Scope 2 of the GHG Protocol) in Daiba
HQ and Wangan Studio by 100% in FY 2023
In addition to ongoing energy saving measures
such as promoting developments of Green
Certified Buildings, installing LEDs in existingbuildings, and modernizing heating systems,
have begun energy creation by installing solar
panels in new properties such as logistics
centers.
Shift from paper catalogs to EC, promotedecarbonization in supply chains as well

100%Less

20,000０

FY 2013（Base Year）

As ofFY 2021

FY 2030
TargetFY 2050
Target6.

Paint Your World Brighter and Colorful

Performance Targets

Promote Growth Investment/
Advance Structural Reform

Consolidated and Segment Operating Income Targets

Consolidated
Operating Income

Improve Return on Capital

Maintain Stable Dividends（Billions of yen）

FY 2022

FY 2025(FY3/23)(FY3/26)

Results

Target31.4

40.0Media & ContentSegment

17.5

24.0

Urban Development,
Hotels & Resorts Segment

15.1

18.0

Other0.91.0※Excluding Adjustments（Billions of yen）

Consolidated Operating Income

50

Flexible Share Repurchase40

Reexamine Portfolio Assets

30
FY 2022

FY 2023

FY 2024

FY 2025

To FurtherGrowthThese materials are an English translation of the original document inJapanese. The Company's performance forecasts and other information
are based on the Company's understanding as of the time the earnings
presentation materials were prepared.
These materials may contain information about financial targets,
forecasts, and other forward looking statements regarding Fuji MediaHoldings, Inc., its affiliates, and investees. Actual results may differsubstantially due to a variety of factors, including changes in business
management, economic conditions, financial markets, and othercircumstances.