Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between thistranslated document and the Japanese original, the original shall prevail.

Consolidated Financial Report for Fiscal 2020
(The Fiscal Year Ended March 31, 2021 under Japanese GAAP)May 12, 2021
Asahi Broadcasting Group
Company 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 Ordinary General Meeting of Shareholders: June 23, 2021
Scheduled Date of Dividend Payment Commencement: June 24, 2021
Scheduled Date of Securities Report Filing: June 24, 2021
Preparation of Annual Supplementary Explanatory Materials: Yes
Annual 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 Fiscal 2020 (April 1, 2020 to March 31, 2021)(1) Consolidated Operating Results(Percentage figures show the year-on-year increase (decrease).)Profit attributable to
Net Sales
Operating Income
Ordinary Income
owners of parent¥ million%¥ million%¥ million%¥ million%
Fiscal 2020
78,344(5.5)
2,694 (20.5)
3,033 (16.5)(930)—
Fiscal 201982,9371.2
3,388 (20.5)
3,633 (20.9)
2,278(39.1)
Note: Comprehensive Income
Fiscal 2020: ¥1,105 million (35.3%)
Fiscal 2019: ¥817 million (-78.8%)
Basic Earnings per Diluted Earnings
Share
per Share¥
Fiscal 2020
(22.69)Fiscal 2019
55.63
(Reference) Equity in Earnings of Affiliates

Rate of return on
equityOrdinary
Income/Total
Assets

¥
%
—
(1.4)
—
3.5
Fiscal 2020: ¥— million
Fiscal 2019: ¥— million(2) Consolidated Financial Position
Total Assets
Net Assets
Equity-to-Asset Ratio¥ million¥ million%
March 31, 2021
119,079
69,70055.5
March 31, 2020
114,786
69,091
56.8(Reference) Shareholders’ Equity March 31, 2021: ¥66,035 million
March 31, 2020: ¥65,230 million(3) Consolidated Cash FlowsNet Cash Provided By Net Cash Provided By Net Cash Provided By(Used In) Operating(Used In) Investing(Used In) Financing
Activities
Activities
Activities¥ million¥ million¥ million
Fiscal 2020
5,952
(10,311)
4,583
Fiscal 2019
4,546
3,203
2,655

Operating
Income/Net Sales

%
2.6
3.3

%
3.4
4.1

Net Assets per Share¥
1,609.44
1,591.64

Ending Balance ofCash and Cash
Equivalents¥ million
26,73926,643

2. Dividends
Annual Dividend per Share
1Q-End2Q-End3Q-End Period-End

Total
Dividends

Total

PayoutRatio(Consolidated)

Ratio of
Dividends
to NetAssets(Consolidated)¥

Fiscal 2019
Fiscal 2020
Fiscal 2021
(Forecast)

¥

¥

¥

¥

¥ million

%

%

737
410

32.4
—

1.1
0.6

—
—

9.00
5.00

—
—

9.00
5.00

18.00
10.00

—

5.00

—

6.00

11.00

28.2

3. Consolidated Financial Results Forecasts for Fiscal 2021 (April 1, 2021 to March 31, 2022)(Percentage figures show the year-on-year increase (decrease).)Profit attributable Basic Earnings
Net Sales
Operating Income Ordinary Income
to owners of parent
per Share¥ million% ¥ million% ¥ million% ¥ million%¥
Full Fiscal Year82,0004.7
2,300 (14.6)
2,500 (17.6)
1,600
—
39.01

* Notes(1) Changes in the number of important subsidiaries during the period: None
(2) 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
(3) Number of shares issued and outstanding (common shares)
1) Number of shares issued and outstanding as of March 31,
the period-end (including treasury shares)
2021
2) Number of treasury shares as of the period-end March 31,
2021
3) Average number of shares issued and outstanding March 31,
for the period
2021

41,833,000
shares802,674
shares41,015,725
sharesMarch 31,2020
March 31,2020
March 31,2020

41,833,000
shares850,078
shares40,956,135
shares(Reference) Summary of Non-consolidated Financial Results
1. Non-consolidated Financial Results for Fiscal 2020 (April 1, 2020 to March 31, 2021)(1) Non-consolidated Operating Results(Percentage figures show the year-on-year increase (decrease).)Net Sales
Operating Income
Ordinary Income
Profit¥ million%¥ million%¥ million%¥ million%
Fiscal 2020
5,457
(4.5)
478 (52.6)
633 (44.4)(2,253)—Fiscal 2019
5,718
8.4
1,009
10.4
1,139
(4.3)
1,457
54.4
Basic Earnings per Diluted Earnings
Share
per Share
Fiscal 2020
Fiscal 2019¥(54.94)
35.60

¥
—
—

(2) Non-consolidated Financial Position
Total Assets
Net Assets
Equity-to-Asset Ratio¥ million¥ million%
March 31, 2021
62,54650,851
81.3
March 31, 2020
58,96652,432
88.9(Reference) Shareholders’ Equity March 31, 2021: ¥50,851 million
March 31, 2020: ¥52,432 million

Net Assets per Share¥
1,239.36
1,279.37* These consolidated financial results are outside the scope of audit by certified public accountants and audit
corporations* 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 date and 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. Overview of Business Results,
etc. (4) Future Outlook” on page 4 of the attached supplementary materials for information regarding the underlying
assumptions for financial results forecasts, as well as explanatory and other notes regarding the use of financial results
forecasts.
The Company will hold a briefing for institutional investors and analysts (online), scheduled for Monday, May 17,2021. The document to be used at this briefing shall be published on the Company’s website at 10:00 a.m. on the dayof the event.

Supplementary Materials: Table of Contents
1.

Overview of Business Results, etc.

2(1) Overview of Business Results for the Fiscal Year under Review

2(2) Overview of Financial Position for the Fiscal Year under Review

3(3) Overview of Cash Flows for the Fiscal Year under Review

3(4) Future Outlook

4(5) Significant Events regarding Going Concern Assumptions

4

2.

Rationale behind the Choice of Accounting Standards

4

3.

Consolidated Financial Statements and Primary Notes

5(1) Consolidated Balance Sheet

5(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income

7(3) Consolidated Statement of Changes in Equity

9(4) Consolidated Statement of Cash Flows

11(5) Notes regarding Consolidated Financial Statements

13

4.

(Going Concern Assumptions)13(Segment Information, etc.)

13(Per Share Information)

16(Significant Events after Reporting Period)

16

Other Information

17(1) Changes to the Officers of the Company

171

1. Overview of Business Results, etc.
(1) Overview of Business Results for the Fiscal Year under Review
In fiscal 2020, which extended from April 1, 2020 to March 31, 2021, the Japanese economy repeatedly worsened andrecovered slightly due to the continued impact of COVID-19 as the global economy did. Vaccination has begun, but
the outlook for the economy remains uncertain as it is difficult to forecast when COVID-19 will recede.
Under these circumstances, net sales of the broadcasting field, where the Asahi Broadcasting Group (the Group)
conducts its core business, decreased due to a large decrease in TV spot advertising sales, the mainstay of the business.
Net sales of the housing business were up due to the conclusion of real estate sales, despite the impact of COVID-19.
Net sales of the golf business decreased due to a decrease in play revenue owing to a decrease in the number of visitors
attributable to the impact of COVID-19 and other factors.
As a result of these factors, the Group’s net sales for the fiscal year ended March 31, 2021 decreased ¥4,592 million,
or 5.5%, compared to the previous fiscal year and amounted to ¥78,344 million. From the cost standpoint, cost of
sales decreased ¥2,566 million (4.7%) compared with the previous fiscal year, to ¥52,393 million. Selling, generaland administrative expenses decreased ¥1,332 million (5.4%) compared with the previous fiscal year, to ¥23,256
million.
As a result of the above, operating income for the period decreased ¥694 million, or 20.5%, to ¥2,694 million, while
ordinary income totaled ¥3,033 million, a decrease of ¥599 million, or 16.5%. Additionally, ¥3,445 million of
extraordinary loss due to loss on valuation of investment securities, etc. was recorded.
As a result, income before income taxes were ¥256 million, a decrease of ¥3,437 million, or 93.1%, and loss
attributable to owners of parent was ¥930 million, a decrease of ¥3,209 million from the profit attributable to ownersof parent in the previous fiscal year.
Results by business segment are as follows:
Broadcasting BusinessIn the fiscal year under review, net sales in the broadcasting business totaled ¥64,602 million, down ¥5,002 million,
or 7.2%, compared to the previous fiscal year. The principal factor accounting for this decrease in revenue was adecrease in TV spot advertising sales, the mainstay of the business. On the other hand, operating expenses decreased
7.1% from the previous fiscal year, due to factors including a decrease in program expenses. As a result, operating
income amounted to ¥2,186 million, a decrease of ¥330 million, or 13.1%, from the previous fiscal year.
Housing BusinessIn the housing business, net sales amounted to ¥12,958 million, an increase of 586 million, or 4.7%, compared withthe previous fiscal year. The principal factor was the significant contribution of real estate sales despite facility closuresdue to the spread of COVID-19. Meanwhile, operating expenses rose 7.2% mainly due to the recording of costs
associated with real estate sales. As a result, operating income amounted to ¥874 million, a decrease of ¥227 million,
or 20.6%, from the previous fiscal year.
Golf BusinessNet sales in the golf business amounted to ¥783 million, a decrease of ¥176 million, or 18.4%, compared with theprevious fiscal year. The principal factor was a decrease in the number of visitors attributable to the impact of COVID19. On the other hand, operating expenses dropped 10.6% due to increases in sundry expenses, labor expenses, andother expenses. As a result, operating income decreased ¥124 million from the previous fiscal year to an operating
loss of ¥52 million.

2(2) Overview of Financial Position for the Fiscal Year under Review(Assets)
Total assets as of the end of the fiscal year under review were ¥119,079 million, ¥4,293 million higher than at the endof the previous fiscal year (March 31, 2020). This was primarily attributable to an increase in non-current assets as aresult of purchase of land, etc.
(Liabilities)
Total liabilities were ¥49,378 million, ¥3,683 million higher than at the end of the previous fiscal year. The principal
reason for the increase in liabilities was the issuance of bonds.
(Net Assets)
Consolidated total net assets came to ¥69,700 million, ¥609 million higher than at the end of the previous fiscal year.
This was attributable mainly to an increase in valuation difference on available-for-sale securities as a result of a risein the market value of listed shares the Company held.
(3) Overview of Cash Flows for the Fiscal Year under Review
For the fiscal year under review, net cash provided by operating activities totaled ¥5,952 million. Net cash used ininvesting activities was ¥10,311 million, and net cash provided by financing activities came to ¥4,583 million.
Accounting for each of these activities, the ending balance of cash and cash equivalents stood at ¥26,739 million, an
increase of ¥95 million compared with the end of the previous fiscal year. In specific terms, cash flow activities arepresented as follows.
(Cash Flows from Operating Activities)
Net cash provided by operating activities was ¥5,952 million (an inflow of ¥4,546 million during the previous fiscal
year) due mainly to a decrease in inventories and the recording of depreciation and amortization.
(Cash Flows from Investing Activities)
Net cash used in investing activities was ¥10,311 million (an inflow of ¥2,655 million during the previous fiscal year)
due to purchase of property, plant and equipment and investment securities.
(Cash Flows from Financing Activities)
Net cash provided by financing activities was ¥4,583 million (an inflow of ¥3,203 million during the previous fiscal
year) due mainly to the issuance of bonds.

3

(4) Future Outlook
At present, it is extremely difficult to forecast when the spread of COVID-19 will recede, the status of recovery of
economic activity after the virus recedes, etc.
As for the outlook for the Japanese economy in fiscal 2021, we must say that the situation is extremely uncertain.
Amid these circumstances, the Group will strive to improve viewer ratings in the broadcasting business, where we
conduct our core business, while investing in further expansion of content-related business and in digitaltransformation, as well as proactively addressing regional revitalization and the Sustainable Development Goals(SDGs).
For fiscal 2021 on a consolidated basis, we forecast net sales of ¥82,000 million, operating income of ¥2,300 million,
ordinary income of ¥2,500 million, and profit attributable to owners of parent of ¥1,600 million.
(5) Significant Events regarding Going Concern Assumptions
Not applicable.
2. Rationale behind the Choice of Accounting Standards
To sustain comparability of consolidated financial statements between periods as well as between companies, theGroup shall, for the time being, prepare consolidated financial statements under Japanese GAAP.

43. Consolidated Financial Statements and Primary Notes(1) Consolidated Balance Sheet(Millions of Yen)
March 31, 2020
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
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
Accumulated depreciation
Buildings and structures, net
Machinery equipment and vehicles
Accumulated depreciation
Machinery equipment and vehicles, net
Tools furniture and fixtures
Accumulated depreciation
Tools furniture and fixtures, net
Land
Lease assets
Accumulated depreciation
Lease assets, net
Construction in progress
Total property, plant and equipment
Intangible assets
Software
Software in progress
Goodwill
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Long-term prepaid expenses
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Deferred assets
Bond issuance cost
Total deferred assets
Total assets

5

March 31, 2021

27,04812,825
204
4,668
262
2,314
(15)
47,30722,362
13,219
5,621
3,011
173
2,292
(15)
46,66434,744(16,348)
18,396
21,701(15,630)
6,070
1,910
(1,417)493
10,363
108
(39)
69
1,551
36,94435,490(16,035)
19,454
21,517(16,503)
5,013
1,902
(1,396)506
12,543
143
(65)
78
2,164
39,760

1,195
144
22
122
1,485

1,145
503
1,203
142
2,995

17,299
108
1,086
8,255
2,310
(35)
29,02467,45418,606
104
970
7,391
2,575
(33)
29,614
72,37024
24
114,78644
44
119,079

(Millions of Yen)
March 31, 2020
Liabilities
Current liabilities
Current portion of long term loans payable
Current portion of bonds
Lease obligations
Accounts payable - otherAccrued expenses
Income taxes payable
Provision for directors’ bonuses
Provision for loss on venue closing
Other
Total current liabilities
Non-current liabilities
Long term loans payable
Bonds payable
Lease obligations
Net defined benefit liability
Long-term guarantee deposited
Deferred tax liabilities
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders’ equity
Valuation and translation adjustments
Valuation 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

March 31, 2021

586
26
15
5,970
1,724
567
102
272
4,383
13,647

564
26
20
6,615
1,782
1,060
68
－
4,974
15,112

931
5,065
51
16,512
7,486
988
1,011
32,04745,694

1,200
10,03960
14,111
6,799
1,131
923
34,26649,3785,299
5,847
54,415(426)
65,1355,299
5,862
52,910(402)
63,670

1,941

3,320

－
(1,846)
94

(129)
(825)
2,365

0

－
3,664
69,700119,079

3,860
69,091
114,7866

(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income
Consolidated Statement of Income
Fiscal 2019
(April 1, 2019
to March 31, 2020)
82,93754,95927,977
24,5883,388

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest and dividends income
Subsidy income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Loss on disposal of non-current assets
Loss on investments in partnership
Loss on investments in silent partnership
Other
Total non-operating expenses
Ordinary income
Extraordinary income
Gain on sales of non-current assets
Gain on sales of investment securities
Gain on reversal of provision for loss on venue
closing
Total extraordinary income
Extraordinary loss
Loss on valuation of investment securities
Loss on valuation of stocks of subsidiaries andaffiliates
Loss on valuation of investments in capital
Loss on venue closing
Impairment loss
Loss on sales of non-current assets
Special retirement expenses
Total extraordinary loss
Income before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit (loss)
Profit (loss) attributable to non-controlling interests
Profit (loss) attributable to owners of parent

7(Millions of Yen)
Fiscal 2020
(April 1, 2020
to March 31, 2021)
78,34452,39325,951
23,256
2,694

247
15
149
412

205
154
132
492

20
8
49
64
25
168
3,633

29
34
60
4
23
153
3,033

1,089
747

－
607

－

61

1,837

668

－

3,202

19

110

－

49

943
566
167
80
1,776
3,694
1,222
371
1,594
2,099
(179)
2,278

－
24
－
57
3,445
256
1,244
185
1,429
(1,173)
(242)
(930)

Consolidated Statement of Comprehensive Income
Fiscal 2019
(April 1, 2019
to March 31, 2020)
2,099

Profit (loss)
Other 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 of
the parent
Comprehensive income attributable to noncontrolling interests

8(Millions of Yen)
Fiscal 2020
(April 1, 2020
to March 31, 2021)(1,173)(1,077)

1,388

－

(130)

(205)

1,021

(1,282)
817

2,279
1,105

995

1,340

(178)

(234)

(3) Consolidated Statement of Changes in Equity
Fiscal 2019 (April 1, 2019 to March 31, 2020)(Millions of Yen)

Shareholders’ equity
Capitalstock
Balance at the beginning of period
Changes of items during the period
Dividends from surplus
Profit attributable to owners ofparentPurchase of treasury stock
Disposal of treasury stock
Change in treasury shares of parent
arising from transactions with noncontrolling shareholders
Net changes of items other thanshareholders’ equity
Total changes of items during theperiodBalance at the end of period

Balance at the beginning of period
Changes of items during the period
Dividends from surplus
Profit attributable to owners ofparentPurchase of treasury stock
Disposal of treasury stock
Change in treasury shares ofparent arising from transactions
with non-controlling shareholders
Net changes of items other thanshareholders’ equity
Total changes of items during theperiodBalance at the end of period

Capitalsurplus

5,299

53,241

Total
shareholders’equity(470)
63,846(1,104)(1,104)

2,278

2,278

Retainedearnings

5,775

Treasury
stock

(0)
43

18

(0)
61

53

53
－

－

71

1,173

43

1,288

5,299

5,847

54,415(426)

65,135

Valuation and translation adjustments
Valuation
RemeasureTotal
Subscription Nondifference Foreignvaluationrights to controlling Total net
oncurrency ments ofassetsdefinedandsharesinterests
available- translation benefit
translation
for-sale adjustmentplans
adjustments
securities
3,018－(1,641)
1,377
－
1,826
67,049(1,104)
2,278
(0)
61
53
(1,077)－(205)(1,282)

0

2,034

752

(1,077)－(205)(1,282)

0

2,034

2,041

1,941

－

(1,846)

94

0

3,860

69,091

9

Fiscal 2020 (April 1, 2020 to March 31, 2021)(Millions of Yen)

Shareholders’ equity
CapitalsurplusCapital stock
Balance at the beginning of period
Changes of items during the period
Dividends from surplus
Loss attributable to owners ofparentPurchase of treasury stock
Disposal of treasury stock
Change in treasury shares of parent
arising from transactions with noncontrolling shareholders
Net changes of items other thanshareholders’ equity
Total changes of items during theperiodBalance at the end of period

Balance at the beginning of period
Changes of items during the period
Dividends from surplus
Loss attributable to owners ofparentPurchase of treasury stock
Disposal of treasury stock
Change in treasury shares ofparent arising from transactions
with non-controlling shareholders
Net changes of items other thanshareholders’ equity
Total changes of items during theperiodBalance at the end of period

5,299

54,415

Total
shareholders’equity(426)
65,135

(573)

(573)

(930)

(930)

Retainedearnings

5,847

Treasury
stock

(0)
23

15

(0)
38

0

0
－

－

15

(1,504)23(1,465)

5,299

5,862

52,910(402)

63,670

Valuation and translation adjustments
Valuation
RemeasureTotal
Subscription Nondifference Foreignmentsofvaluationrights to controlling Total net
oncurrency
assetsdefinedandsharesinterests
available- translation benefit
translation
for-sale adjustmentplans
adjustments
securities
1,941－(1,846)94
0
3,860
69,091
－

(573)

－

(930)

－
－

(0)
38

－

0

1,379

(129)

1,021

2,271

(0)

(196)

2,074

1,379

(129)

1,021

2,271

(0)

(196)

609

3,320

(129)

(825)

2,365

－

3,664

69,70010

(4) Consolidated Statement of Cash Flows
Fiscal 2019
(April 1, 2019
to March 31, 2020)
Cash flows from operating activities
Income before income taxes
Depreciation and amortization
Impairment loss
Amortization of goodwill
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for loss on venue closing
Increase (decrease) in net defined benefit liability
Interest and dividend income
Interest expenses
Loss (gain) on sales of property, plant and equipment
Loss on retirement of property, plant and equipment
Loss (gain) on sales of investment securities
Loss (gain) on valuation of investment securities
Loss on valuation of stocks of subsidiaries and affiliates
Loss on valuation of investments in capital
Loss (gain) on investments in partnership
Loss (gain) on investments in silent partnership
Decrease (increase) in notes and accounts receivable - trade
Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable - trade
Decrease (increase) in investment
Other, net
SubtotalInterest and dividend income received
Interest expenses paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits
Purchase of investment securities
Proceeds from sales of short-term investment
securities
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Purchase of intangible assets
Payments for asset retirement obligations
Purchase of investment securities
Proceeds from sales of investment securities
Proceeds from redemption of investment securities
Payments for investments in silent partnership
Proceeds from withdrawal of investments in silent
partnership
Proceeds from purchase of investments in subsidiaries
resulting in change in scope of consolidation
Purchase of investments in subsidiaries resulting inchange in scope of consolidation
Payments for transfer of business
Payments of loans receivableCollection of loans receivable
Other, net
Net cash provided by (used in) investing activities

11(Millions of Yen)
Fiscal 2020
(April 1, 2020
to March 31, 2021)

3,694
3,223
1,076
40
(1)
272
(1,229)
(247)
20
(922)
8
(747)
19
－
－
49
64
1,248
624
(877)
(309)
(24)
5,983
262
(20)
(1,679)
4,546

256
3,088
24
52
(1)
(272)
(1,306)
(205)
29
－
34
(607)
3,202
110
49
60
4
(384)
1,807
456
(279)
167
6,287
305
(28)
(612)
5,952

(319)
323
－

(295)
277
(19)

－

5

(1,616)
1,720
(299)
(315)
(326)
874
800
(75)

(6,116)－(373)－(3,748)
640
－
(100)

10

95

1,597

－

－

(276)

－
(10)
14
279
2,655

(277)
(168)
46
(0)
(10,311)

Fiscal 2019
(April 1, 2019
to March 31, 2020)
Cash flows from financing activities
Proceeds from long-term loans payable
Repayments of long-term loans payable
Proceeds from issuance of bonds
Redemption of bonds
Proceeds from share issuance to non-controllingshareholders
Purchase of treasury stock
Cash dividends paid
Dividends paid to non-controlling interests
Repayments of lease obligations
Payments from changes in ownership interests in
subsidiaries that do not result in change in scope of
consolidation
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Beginning balance of cash and cash equivalents
Ending balance of cash and cash equivalents

12(Millions of Yen)
Fiscal 2020
(April 1, 2020
to March 31, 2021)

140
(637)
4,972
(16)

1,000
(813)
4,971
(26)

－

50

(0)
(1,104)
(17)
(14)

(0)
(573)
(11)
(13)

(119)

－

3,203

4,583

－

(128)

10,404
16,23926,643

95
26,643
26,739(5) Notes regarding Consolidated Financial Statements(Going Concern Assumptions)Not applicable.
(Segment Information, etc.)(Segment Information)
1. Description of Reportable Segments
The reportable segments of the Group are its constituent units for which separate financial information is available
and which are subject to periodic examination in order for the Board of Directors to determine the allocation ofmanagement resources and evaluate financial results.
The Group maintains three reportable segments with business activities undertaken primarily in the broadcasting,housing, and golf club business fields.
The broadcasting business comprises television, radio, and related broadcasting activities. The housing business ismade up of housing exhibition site operating and related activities. The golf club business includes golf club operating
activities.
2. Calculation Method of Measurements of Sales, Profit, Loss, Asset, Liability and Other Items for Each Reportable
Segment
The accounting treatment methods for reported business segments are generally the same as those for statements in“Significant Matters for the Preparation of Consolidated Financial Statements.”
Profit in the reportable segments is based on operating income. In addition, intrasegment revenues or transfers are
based on prevailing market prices.
3. Explanation of Measurements of Sales, Profit, Loss, Asset, Liability and Other Items for Each Reportable Segment
Fiscal 2019 (April 1, 2019 to March 31, 2020)(Millions of Yen)
Amounts
Recorded on
Adjustments Consolidated(Note 1)
Financial
Statements(Note 2)

Reportable Segment
Broadcasting

Housing

Golf Club

Total

Sales
Revenues from externalcustomers
Transactions with othersegments

69,605

12,372960

82,937—82,937

531

19

55

606

(606)

—

Total

70,136

12,391

1,016

83,543(606)

82,937

Segment profit

2,516

1,101

72

3,690

(301)

3,388

Segment assets

69,072

15,063

10,89695,031

19,754

114,786

2,515

618

89

3,223

—

3,223

2,253

205

126

2,585

—

2,585

Other items
Depreciation
andamortization
Increase in property,
plant and equipment
and intangible assets

13Notes:1. Adjustments are outlined as follows:(1) The adjustment to transactions with other segments of negative ¥606 million represents the amount of
intrasegment transaction elimination.
(2) The adjustment to segment profit of negative ¥301 million represents the amount of expenses which do notbelong to any reportable segment, mainly regarding development of new business and market.
(3) The adjustment to segment assets of ¥19,754 million represents companywide assets which are not allocatedto the reportable segments of ¥20,513 million and negative ¥758 million as the amount of intrasegment
receivables and payables elimination.
Companywide assets are primarily cash and deposits and investment securities which do not belong to any
reportable segment.
2. Segment profit refers to operating income recorded on the consolidated statement of income.
3. Amortization and increases of long-term prepaid expenses are included in depreciation and amortization as wellas increase in property, plant and equipment and intangible assets.
Fiscal 2020 (April 1, 2020 to March 31, 2021)(Millions of Yen)
Amounts
Recorded on
Adjustments Consolidated(Note 1)
Financial
Statements(Note 2)

Reportable Segment
Broadcasting

Housing

Golf Club

Total

Sales
Revenues from externalcustomers
Transactions with othersegments

64,602

12,958783

78,344—78,344

435

19

7

463

(463)

—

65,038

12,978791

78,808(463)

78,344

Segment profit (loss)

2,186

874

(52)

3,008

(314)

2,694

Segment assets

68,361

14,283

10,726

93,37225,707

119,079

Total

Other items
Depreciation
and
2,479
519
88
3,088
—
3,088
amortization
Increase in property,
plant and equipment
1,184
3,902
29
5,116
—
5,116
and intangible assets
Notes:
1. Adjustments are outlined as follows:(1) The adjustment to transactions with other segments of negative ¥463 million represents the amount of
intrasegment transaction elimination.
(2) The adjustment to segment profit (loss) of negative ¥314 million represents the amount of expenses which
do not belong to any reportable segment, mainly regarding development of new business and market.
(3) The adjustment to segment assets of ¥25,707 million represents companywide assets which are not allocatedto the reportable segments of ¥26,475 million and negative ¥767 million as the amount of intrasegment
receivables and payables elimination.
Companywide assets are primarily cash and deposits and investment securities which do not belong to any
reportable segment.
2. Segment profit (loss) refers to operating income recorded on the consolidated statement of income.
3. Amortization and increases of long-term prepaid expenses are included in depreciation and amortization as wellas increase in property, plant and equipment and intangible assets.

14

[Explanation of Impairment Loss on Non-Current Assets for Each Reportable Segment]
Fiscal 2019 (April 1, 2019 to March 31, 2020)(Millions of Yen)
Corporate
Broadcasting

Housing

Golf Club

Total

and

Total

Elimination
Impairment
loss

423

653

—

1,076

—

1,076

Fiscal 2020 (April 1, 2020 to March 31, 2021)(Millions of Yen)
Corporate
Broadcasting

Housing

Golf Club

Total

and

Total

Elimination
Impairment
loss

―

24

―

24

―

24

[Explanation of Amortization of Goodwill and Unamortized Balance for Each Reportable Segment]
Fiscal 2019 (April 1, 2019 to March 31, 2020)(Millions of Yen)
Corporate
Broadcasting

Housing

Golf Club

Total

and

Total

Elimination
Amortization
during the period
Balance at the endof the period

40

—

—

40

—

40

22

—

—

22

—

22

Fiscal 2020 (April 1, 2020 to March 31, 2021)(Millions of Yen)
Corporate
Broadcasting

Housing

Golf Club

Total

and

Total

Elimination
Amortization
during the period
Balance at the endof the period

52

―

―

52

―

52

1,203

―

―

1,203

―

1,203

15

(Per Share Information)(Yen)
Fiscal 2019
(April 1, 2019
to March 31, 2020)
Net assets per share
Basic earnings (loss) per share

Fiscal 2020
(April 1, 2020
to March 31, 2021)

1,591.64

1,609.44

55.63(22.69)Notes:
1. Diluted earnings per share information has been omitted as there were no potential shares with a dilutive effect.
2. The basis for calculating basic earnings (loss) per share is presented as follows.
Fiscal 2019
(April 1, 2019
to March 31, 2020)

Fiscal 2020
(April 1, 2020
to March 31, 2021)

Basic earnings (loss) per share
Profit (loss) attributable to owners of parent(Millions of Yen)
Amount not attributable to common shareholders(Millions of Yen)
Profit (loss) attributable to owners of parent related tocommon stock (Millions of Yen)
Average number of common stock shares issued andoutstanding during the period (Thousands of Shares)
3.

2,278

(930)

—

—

2,278

(930)

40,95641,015The basis for calculating net assets per share is presented as follows:
March 31, 2020

March 31, 2021

Total net assets (Millions of Yen)

69,091

69,700

Amount excluded from total net assets(Millions of Yen)

3,861

3,664

(Non-controlling interests)(3,860)(3,664)

65,23066,03540,982

41,030Net assets attributable to common stock as of the end of
the period (Millions of Yen)
Number of shares of common stock issued andoutstanding as of the end of the period calculated under
net assets per share (Thousands of Shares)(Significant Events after Reporting Period)
Not applicable.

164. Other Information(1) Changes to the Officers of the Company
Please refer to the “Notice of Changes in Personnel” announced on May 12, 2021. (Available in Japanese only.)

17