Consolidated Financial Report for the Second Quarter of Fiscal 2022
(The Fiscal Year Ended March 31, 2023 under Japanese GAAP)
November 14, 2022
Asahi Broadcasting GroupCompany Name:
Stock Exchange Listing: Tokyo Stock Exchange
Holdings Corporation
Securities Code: 9405
URL https://corp.asahi.co.jp/en/
Representative: Susumu Okinaka, Representative Director and President
Inquiries:
Hirokazu Ueda, Manager, Financial Affairs Division
TEL: +81-6-6458-5321
Scheduled Date of Securities Report Filing: November 14, 2022
Scheduled Date of Dividend Payment Commencement: December 1, 2022
Preparation of Quarterly Supplementary Explanatory Materials: Yes
Quarterly Results Briefing Held: Yes (for institutional investors and analysts)(Figures are rounded down to the nearest million yen unless otherwise stated.)
1. Consolidated Financial Results for the First Half of Fiscal 2022 (April 1, 2022 to September 30, 2022)(1) Consolidated Operating Results (Cumulative)(Percentage figures show the year-on-year increase (decrease) for each corresponding period.)
Profit attributable toNet Sales
Operating IncomeOrdinary Incomeowners of parent¥ million%¥ million%¥ million%¥ million%
First Half of
41,1000.5
293 (76.2)
479 (68.9)
403 (64.4)
Fiscal 2022
First Half of
40,889
23.6
1,234
—
1,539
—
1,133—
Fiscal 2021
Note: Comprehensive Income
First half of fiscal 2022:¥138 million (-21.9%)
First half of fiscal 2021:¥176 million (— %)Basic Earnings perShare

Diluted Earnings perShare¥First Half of
Fiscal 2022
First Half of
Fiscal 2021

¥

9.67

—

27.61

—

(2) Consolidated Financial Position
Total Assets
Net Assets
Equity-to-Asset Ratio¥ million¥ million%
September 30,118,876
69,95556.02022
March 31,123,788
70,49754.1
2022(Reference) Shareholders’ Equity September 30, 2022: ¥66,540 million
March 31, 2022:¥66,975 million
2. Dividends
Annual Dividend per Share
1Q-End2Q-End¥3Q-End¥Fiscal 2021—
7.00
Fiscal 2022—
10.00
Fiscal 2022 (Forecast)
Note: Revisions from recently announced dividend forecast: Yes

Period-End¥

Total¥

¥

—

17.00

24.00

—

6.00

16.00

3. Consolidated Financial Results Forecasts for Fiscal 2022 (April 1, 2022 to March 31, 2023)(Percentage figures show the year-on-year increase (decrease) for each corresponding period.)
Profit attributable Basic Earnings
Net Sales
Operating Income Ordinary Income
to owners of parentper Share¥ million% ¥ million% ¥ million% ¥ million%¥Full Fiscal Year87,0002.2
2,900 (31.0)
3,400 (29.1)
2,200 (17.6)
52.66
Note: Revision from recently announced performance forecast: Yes* Notes(1) Changes in the number of important subsidiaries during the period: None
(2) Application of special accounting treatment for the preparation of quarterly consolidated financial statements:None(3) Changes in accounting policies, accounting estimates and restatements
1) Changes in accounting policies in accordance with changes in accounting standards, etc.: None
2) Changes in accounting policies other than 1): None
3) Changes in accounting estimates: None
4) Restatements: None
(4) Number of shares issued and outstanding (common shares)
1) Number of shares issued and outstanding as of September 30,
the period-end (including treasury shares)
2022
2) Number of treasury shares as of the period-end September 30,
20223) Average number of shares issued andSeptember 30,
outstanding for the period
2022

41,833,000
shares31,209shares
41,760,154
sharesMarch 31,2022
March 31,2022
September 30,
2021

41,833,000
shares101,261
shares
41,051,407
shares* This financial report is exempt from the quarterly review procedure.
* Explanation concerning the appropriate use of forecasts and other special instructions(Caution regarding forward-looking statements, etc.)
Results forecasts and other forward-looking statements contained in this report are based on the assumptions,beliefs, and uncertainties in light of information available to the Company’s management as of the publication dateand do not represent promises by the Company or its management that these performance figures will be attained.
Actual results may differ materially from forecasts due to a variety of factors. Please refer to “1. Analysis ofOperating Results and Financial Position (3) Explanation of Forward-Looking Statements, including the Outlook forConsolidated Performance” on page 3 of the attached supplementary materials for information regarding theunderlying assumptions for financial results forecasts, as well as explanatory and other notes regarding the use offinancial results forecasts.
The Company will hold a briefing for institutional investors and analysts (online), scheduled for Monday, November
21, 2022. The document to be used at this briefing shall be published on the Company’s website at 9:00 a.m. on theday of the event.

Supplementary Materials: Table of Contents
1.

2.

Analysis of Operating Results and Financial Position(1) Analysis of Operating Results(2) Analysis of Financial Position(3) Explanation of Forward-Looking Statements, including the Outlook for Consolidated Performance
Quarterly Consolidated Financial Statements and Primary Notes(1) Quarterly Consolidated Balance Sheet(2) Quarterly Consolidated Statement of Income and Quarterly Consolidated Statement ofComprehensive Income
Quarterly Consolidated Statement of Income
Quarterly Consolidated Statement of Comprehensive Income(3) Notes regarding Quarterly Consolidated Financial Statements(Going Concern Assumptions)(Any Major Change in the Amount of Consolidated Shareholders’ Equity)(Additional Information)(Segment Information, etc.)

122234466788889

1. Analysis of Operating Results and Financial Position(1) Analysis of Operating Results
In the first half of fiscal 2022, which extended from April 1, 2022 to September 30, 2022, the Japanese economy
saw a gradual recovery mainly in consumer spending thanks to the further easing of activity restriction, despite theCOVID-19 that spread again. However, due to the rapid yen’s depreciation, the resulting prices surge, and otherfactors, the economic outlook has remained uncertain.
Under these circumstances, net sales of the broadcasting and content business, where the Asahi Broadcasting Group(the Group) conducts its core business, increased due to an increase in content-related revenue. Net sales of thelifestyle business were down due to a decrease in revenue from real estate sales and other factors. As a result ofthese factors, the Group’s net sales for the first half of fiscal 2022 increased ¥210 million, or 0.5%, compared to thesame period of the previous fiscal year and amounted to ¥41,100 million.
From the cost standpoint, cost of sales increased ¥397 million (1.4%) compared with the same period of the previous
fiscal year, to ¥28,121 million. Selling, general and administrative expenses increased ¥753 million (6.3%)
compared with the same period of the previous fiscal year, to ¥12,684 million. As a result of the above, operating
income decreased ¥940 million, or 76.2%, to ¥293 million, while ordinary income totaled ¥479 million, a decreaseof ¥1,060 million, or 68.9%. Additionally, ¥210 million of extraordinary income due to sale of real estate forbusiness was recorded, while ¥260 million of extraordinary loss was recorded due in part to the recording ofimpairment loss on non-current assets.
As a result, income before income taxes was ¥429 million, a decrease of ¥1,320 million, or 75.5%, and profit
attributable to owners of parent was ¥403 million, a decrease of ¥729 million, or 64.4%.
Results by business segment are as follows:
Broadcasting and Content BusinessNet sales in the broadcasting and content business totaled ¥34,482 million, up ¥527 million, or 1.6%, compared tothe same period of the previous fiscal year. Revenue grew with an increase in sales of content-related business andother factors, despite a decrease in contract production of animated content. Operating expenses increased 3.3%
from the same period of the previous fiscal year due to an increase in amortization of investment in content-related
business and other factors even with a decrease in expenses for contract production of animated content, etc. As aresult, operating income amounted to ¥407 million, a decrease of ¥554 million or 57.6% from the same period of theprevious fiscal year.
Lifestyle BusinessNet sales in the lifestyle business amounted to ¥6,617 million, down ¥317 million or 4.6% from the same period of
the previous fiscal year. The principal factor was a decrease in revenue from real estate sales. Operating expenses
decreased 0.4% due to a decrease in cost of real estate sales, despite increases in amortization of asset retirement
obligations, etc. recorded in the previous fiscal year. As a result, operating income amounted to ¥118 million, adecrease of ¥294 million or 71.4% from the same period of the previous fiscal year.
(2) Analysis of Financial Position(Assets)
Total assets as of the end of the second quarter of fiscal 2022 were ¥118,876 million, ¥4,911 million lower than at
the end of the previous fiscal year (March 31, 2022). This was primarily attributable to a decrease in cash anddeposits resulting from payments of taxes and accounts payable, redemption of securities, etc.
(Liabilities)
Total liabilities were ¥48,920 million, ¥4,369 million lower than at the end of the previous fiscal year. The principal
reasons for the decrease in liabilities were decreases in accounts payable–other and accounts payable for equipment
which is included in other current liabilities.

2(Net Assets)
Consolidated total net assets came to ¥69,955 million, ¥541 million lower than at the end of the previous fiscal year.
This was attributable mainly to dividends from surplus and a decrease in valuation difference on available-for-salesecurities.
(3) Explanation of Forward-Looking Statements, including the Outlook for Consolidated Performance
The Company downwardly revised its full-year consolidated financial results forecasts for net sales, operating
income, ordinary income and profit attributable to owners of parent mainly due to a downward trend in TV spot
advertising sales compared with the previous forecast in the Company’s mainstay broadcasting business, a delay indevelopment of new business, and upfront investment in the content business.
Concerning the dividend forecasts for the full fiscal year, the interim dividend forecast (the end of the secondquarter) was ¥10.00 and the year-end dividend forecast was ¥10.00 in the Consolidated Financial Report for Fiscal
2021 (The Fiscal Year Ended March 31, 2022 under Japanese GAAP) announced on May 16, 2022. The Company
determined that the interim dividend (the end of the second quarter) would remain unchanged from the initial
forecast at ¥10.00. However, the year-end dividend forecast will be ¥6.00, down ¥4.00 from the previous forecast.
The Company positions the appropriate return of profits to shareholders as one of its most important measures forcorporate management. Regarding the distribution of profits, we always consider the balance between strengthening
and maintaining our financial position and investing toward improved corporate value and toward our growthstrategies, comprehensively taking into account our financial results, dividend payout ratio, appropriate internal
reserves, and other factors in light of our position of responsibility as a certified broadcasting holding company. TheCompany flexibly determines continuous and stable distribution of profits, aiming at dividend payout ratio of 30%
on a consolidated basis.
For details on the revision of financial results forecasts and dividend, please refer to the Notice of Revision ofFinancial Results Forecasts and the Notice of Dividends from Surplus and Revisions of Dividends Forecasts
announced today (November 14, 2022).
The outlook presented above may significantly change due to external factors such as domestic and overseas
economic trends, as well as when COVID-19 comes to an end and the range of its impact. Should any event arisethat affects the financial results of the Group, the Company will promptly announce it.
Note: The forecasts presented above are based on information that is currently available to the Group and certain
assumptions that are judged to be reasonable. Actual results may differ from the forecasts due to various factors.

3

2. Quarterly Consolidated Financial Statements and Primary Notes(1) Quarterly Consolidated Balance Sheet(Millions of Yen)
March 31, 2022
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, andcontract assets
Short-term investment securities
Inventories
Income taxes receivable
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, netLand
Other, net
Total property, plant and equipment
Intangible assets
Software
Software in progress
Goodwill
Other
Total intangible assets
Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Deferred assets
Bond issuance cost
Total deferred assets
Total assets

4September 30, 2022

23,586

21,75815,497

15,031

4,715
3,149
279
2,527
(11)
49,744

2,211
3,024
203
2,110(115)
44,22418,854
14,252
8,444
41,55017,46815,212
8,058
40,740

2,313
60
986
111
3,472

2,135
103
1,016
87
3,342

16,90012,116(31)
28,98574,00917,788
12,779(29)
30,53874,62134
34
123,78830
30
118,876(Millions of Yen)
March 31, 2022
Liabilities
Current liabilities
Short-term borrowings
Current portion of long term loans payable
Current portion of bonds
Accounts payable-otherIncome taxes payable
Provision
Other
Total current liabilities
Non-current liabilities
Long term loans payable
Bonds payable
Net defined benefit liability
OtherTotal non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders’ equity
Accumulated other comprehensive incomeValuation difference on available-for-salesecurities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total valuation and translation adjustments
Subscription rights to shares
Non-controlling interests
Total net assets
Total liabilities and net assets

5

September 30, 2022

50
513
26
8,131
1,277
516
8,006
18,520

75
451
26
7,128
390
446
6,197
14,715

1,852
10,013
13,2039,700
34,77053,290

1,833
10,00012,786
9,586
34,20548,9205,299
5,984
54,923(50)
66,157

5,299
6,006
54,617(15)
65,909

1,826

1,530

(126)
(881)
818
8
3,513
70,497
123,788

(120)
(779)
631
8
3,406
69,955
118,876

(2) Quarterly Consolidated Statement of Income and Quarterly Consolidated Statement of Comprehensive
IncomeQuarterly Consolidated Statement of Income
For the First Half of Fiscal 2021 and 2022

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividends income
Share of profit of entities accounted for using
equity method
Subsidy income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Loss on disposal of non-current assets
Provision of allowance for doubtful accounts
Other
Total non-operating expenses
Ordinary income
Extraordinary income
Gain on sales of non-current assets
Gain on sales of investment securities
Total extraordinary income
Extraordinary loss
Loss on valuation of investment securities
Impairment loss
Total extraordinary loss
Income before income taxes
Income taxes
ProfitLoss attributable to non-controlling interests
Profit attributable to owners of parent

First Half of Fiscal 2021
(April 1, 2021
to September 30, 2021)
40,88927,723
13,165
11,9301,234

6(Millions of Yen)First Half of Fiscal 2022
(April 1, 2022
to September 30, 2022)
41,10028,121
12,978
12,684
293

591-2115
11190
55
343

207
51
387

16
13
839
1,539

1741
104
39202
479

267
267

210
210

56
56
1,750
772
977(155)
1,133

23
236
260
429
104
325
(78)
403

Quarterly Consolidated Statement of Comprehensive Income
For the First Half of Fiscal 2021 and 2022

ProfitOther comprehensive income
Valuation difference on available-for-salesecurities, net of tax
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net oftax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofthe parent
Comprehensive income attributable to noncontrolling interests

First Half of Fiscal 2021
(April 1, 2021
to September 30, 2021)
977

7(Millions of Yen)First Half of Fiscal 2022
(April 1, 2022
to September 30, 2022)
325(905)

(295)

06

103

102(800)
176

(187)
138

332

216

(155)

(78)

(3) Notes regarding Quarterly Consolidated Financial Statements(Going Concern Assumptions)Not applicable.
(Any Major Change in the Amount of Consolidated Shareholders’ Equity)
Not applicable.
(Additional Information)
The Company and a part of its consolidated subsidiaries have shifted to the group tax sharing system from the nonconsolidated taxation system from the first quarter of fiscal 2022. Accordingly, with regard to accounting treatment
and disclosure of income tax, local income tax, and tax effect accounting, the Company has conformed to thePractical Solution on the Accounting and Disclosure Under the Group Tax Sharing System (the Practical Solution
No.42 issued on August 12, 2021.)

8(Segment Information, etc.)
Explanation of Measurements of Sales, Profit for Each Reportable Segment
First Half of Fiscal 2021 (April 1, 2021 to September 30, 2021)
Reportable Segment
Broadcasting andContent

Lifestyle

Total(Millions of Yen)
Amounts
Recorded on
Quarterly
Adjustments Consolidated(Note 1, 2)
Statement ofIncome(Note 3)

Sales
Revenues from externalcustomers
Transactions with othersegments

33,954

6,934

40,889—40,889

174

271

446

(446)

—

Total

34,1297,206

41,336(446)

40,889Segment profit

962

412

1,374

(140)

1,234

Notes:
1. The adjustment to transactions with other segments of negative ¥446 million represents the amount ofintersegment transaction elimination.
2. The adjustment to segment profit of negative ¥140 million represents the elimination of intersegmenttransactions of ¥12 million and the amount of expenses which do not belong to any reportable segment ofnegative ¥152 million, mainly regarding development of new business and market.
3. Segment profit refers to operating income recorded on the quarterly consolidated statement of income.
First Half of Fiscal 2022 (April 1, 2022 to September 30, 2022)
Reportable Segment
Broadcasting andContent

Lifestyle

Total(Millions of Yen)
Amounts
Recorded on
Quarterly
Adjustments
Consolidated(Note 1, 2) Statement ofIncome(Note 3)

Sales
Revenues from externalcustomers
Transactions with othersegments

34,4826,617

41,100—41,100199265465(465)—

Total

34,682

6,883

41,565(465)

41,100

Segment profit

407

118

526(232)

293

Notes:
1. The adjustment to transactions with other segments of negative ¥465 million represents the amount ofintersegment transaction elimination.
2. The adjustment to segment profit of negative ¥232 million represents the elimination of intersegment
transactions of ¥19 million and the amount of expenses which do not belong to any reportable segment ofnegative ¥251 million, mainly regarding development of new business and market.
3. Segment profit refers to operating income recorded on the quarterly consolidated statement of income.

9