INVESTORINFORMATION
2 016

Connecting to the future
Tokyo Broadcasting S ys t em H ol di n gs , Inc .

Consolidated Financial Highlights
Net Sales

Operating Income(Millions of Yen)

(Millions of Yen)

346,538

352,351354,338

347,817

348,539

16,18815,696

15,728

13/3

14/3

15/3

17,17912,162

12/3

13/3

14/3

15/3

Ordinary Income
18,096(Millions of Yen)

18,915

12,811

11,671

14,313

12/3

13/3

14/3

15/3

16/3

12/3

9,173

9,644

13/3

14/3

Total Assets

Total Net Assets(Millions of Yen)

(Millions of Yen)

653,732
555,159

559,626

579,039649,970
322,597

12/3

13/3

14/3

15/3

16/3

Profit Attributable to Owners of Parent

22,678(Millions of Yen)

17,671

12/3

16/3

344,473

12/3

16/3

13/3

14,49715/3

16/3

456,118

458,208

15/3

16/3

385,971

14/3

Contents
13

Major Indices

3 At a Glance

15

Segment Information

4 Organization

17

TBS Television

5 Corporate Data

20

Financial Data of Major Group Companies

6 Business Report

22

TBS Networks

2 To Our Stakeholders

9 Consolidated Financial Statements

Financial Figures
The financial figures used in this report are those used in the Japanese ”Tanshin,” which has been created in accordance with the provisions
set forth in the Japanese Financial Instruments and Exchange Act. Thus, all figures have been rounded down to the nearest million yen.

Forward-Looking Statements
This report contains forward-looking statements based on management’s assumptions and beliefs in light of the information currently
available. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those discussed inthis report. Such risks include, but are not limited to, market trends, economic conditions and changes in industry regulations.

Tok yo Broadcasting System Holdings, Inc.

INVESTOR INFORMATION 2016

1

To Our Stakeholders

The following is a brief summaryof business operations during the
fiscal year ended March 31,
2016.

At Tokyo Broadcasting System Television Inc. (TBS TV),

Meanwhile, the multipurpose entertainment venue Akasaka

the average audience ratings for the fiscal year under

Sacas, offering a wide range of events that change with thereview exceeded the previous fiscal year’s performance inseason, has developed into an event space that attracts familyboth golden time and prime time. In our Nichiyo Gekijyo

visitors from all over Japan.

(“Sunday Theater”) slot, which airs from 9:00 on Sunday

With the increasingly diverse range of media devices in use

evenings, serialized dramas such as THE EMPEROR’S COOK

nowadays, video-streaming services are growing in popularity.

and Downtown Rocket have been big hits, firmly implanting

This has brought major changes, notably an increase in

the image of TBS as the prime channel for TV drama.

“time-shifted viewing,” in which the user downloads a

Our subsidiary BS-TBS, INC., whose declared ideal is tocreate programs to “really sit back and enjoy,” has alsoestablished a number of its productions as firm favorites.
TBS Radio Inc., meanwhile, continues to attract stableaudiences.
In our Multi-Visual Ventures and Cultural Events Business,preparations are now complete for the introduction to Japan ofa theater system with spectator seats that can revolve 360

broadcast onto a storage device to watch later.
To adapt to these changes, Tokyo’s five commercial TV
broadcasting companies launched the free-of-chargesponsored Internet broadcasting service “TVer.” This underlines
our awareness of the need to maintain a consistent User First
approach.
Guided by the commitment “From TBS,” our Group willremain the forward-looking broadcaster it has always been.

degrees. The 360-degree theater, which will be the second ofits kind in the world and the first in Asia, is due to open inspring 2017 at Toyosu in Tokyo under the name IHI STAGE
AROUND TOKYO.

June 2016

Shinji Takeda
President & Representative Director
Tokyo Broadcasting System Holdings, Inc.
Tokyo Broadcasting System Television, Inc.

Tok yo Broadcasting System Holdings, Inc.

INVESTOR INFORMATION 20162

At a Glance
Our Business
The Group covers a wide range of businesses essentially including broadcasting. We aim to become the best media group that provides themost powerful contents and software in the areas of information, entertainment, lifestyle and culture.

Terrestrial TV
broadcasting

Terrestrial radio
broadcasting

Manufacture &sale of cosmetics

Miscellaneous
retailing

Satellite
broadcasting

Net & mobile
contents

Planning &production ofaudio & visualcontents

Real estateleasing

Business Activities(Year ended March 31, 2016)

Broadcasting Business¥213.8 billion

4.4%

34.2%

61.4%

Multi-Visual Ventures and Cultural Events Business¥119.1 billion
Real Estate Business¥15.4 billion

Tok yo Broadcasting System Holdings, Inc.

INVESTOR INFORMATION 20163

Organization
As of April 1, 2016

Tokyo Broadcasting System Holdings, Inc.

Broadcasting Business

Multi-Visual Ventures
and Cultural Events BusinessTokyo Broadcasting System Television, Inc.

NICHION, Inc.

TBS Radio Inc.

TBS Ser vice, Inc.

TBS Vision, Inc.

OXYBOT, Inc.

FF TOHO, INC.

TC Enter tainment Incorporated

TBS-TEX, Inc.

Grand Marche, Inc.

DREAMAX TELEVISION, INC.

TBS TriMedia, Inc.

AKASAKA GRAPHICS ART, INC.

StylingLife Holdings Inc. (with two other group companies)

Ar t Communication System, Inc.

C-TBS, Incorporated

TBS ProNex Inc.
Japan Ar tvideo Ser vice Collaborative, Inc.

Equity-method af filiate

Vucast, Inc.

WOWOW INC.

TBS MEDIA RESEARCH INSTITUTE INCORPORATEDTBS International, Inc.
BS-TBS, INC.
Totsu Inc.
TLC Co., Ltd.
Tomo-Digi Corporation

Real Estate BusinessMidoriyama Studio City, Inc.
TBS Kikaku Co., Ltd.
Akasaka Heat Supply Co., Ltd.
TBS Sunwork, Inc.

Tok yo Broadcasting System Holdings, Inc.

INVESTOR INFORMATION 20164

Corporate Data
As of April 1, 2016

Date of Establishment
Head Office

May 10, 1951 (Registered on May 17)
5-3-6 Akasaka, Minato-ku, Tokyo 107-8006, Japan
URL: http://www.tbsholdings.co.jp/
Stock Code: 9401, TSE First Section¥54,896,892,896
Tokyo Broadcasting System Holdings, Inc.
312
Tokyo Broadcasting System Television, Inc. 1,035
TBS Radio Inc.
60

Paid-in Capital
Number of Employees

1

3

4

2

5

6

1 Newsroom at TBS Television

3 Akasaka Biz Tower

5 On set at TBS Television studio for news programs

2 Sub-control room at TBS Television

4 TBS Holdings Head Office

6 On set at TBS Television studio for variety shows

Major Shareholders
Name of shareholder(as of March 31, 2016)

Number of shares held Percentage held
(shares)(%)

The Master Trust Bank of Japan, Ltd.
(Pension Account-Pension Trust Account held for DENTSU INC.)

9,310,500

5.32

Mainichi Broadcasting System, Inc.

8,848,100

5.06

The Master Trust Bank of Japan, Ltd.
(Trust Account)

8,461,100

4.84

MITSUI & CO., LTD.

7,691,000

4.40

Sumitomo Mitsui Banking Corporation

5,745,267

3.28

Mitsui Fudosan Co., Ltd.

5,713,728

3.27

NTT DOCOMO, INC.

5,713,000

3.26

Panasonic Corporation

5,643,180

3.22

Nippon Life Insurance Company

5,006,235

2.86

UBS AG LONDON A/C IPBSEGREGATED CLIENT ACCOUNT

4,348,000

2.48

Tok yo Broadcasting System Holdings, Inc.

INVESTOR INFORMATION 20165

Business Report
From April 1, 2015 to March 31, 2016

The Current Position of Tokyo Broadcasting System Holdings, Inc.
and Its Subsidiaries
1 Business Activities and Results
During the fiscal year under review, Japan’s economy continued
on a path of modest recovery. Although some sluggishness wasobserved in the recovery of personal consumption and capital
investment in the private sector, partly due to a slowdown inemerging economies including China, employment and income
conditions are expected to improve on the back of thegovernment’s economic measures and quantitative andqualitative monetary easing with a negative interest rate
adopted by the Bank of Japan.
Against this backdrop, consolidated net sales of the Group in
the fiscal year ended March 31, 2016 increased by 0.2%
from the previous fiscal year to ¥348,539 million, operating
income increased by 9.2% to ¥17,179 million, ordinary
income increased by 19.9% to ¥22,678 million, and profit
attributable to owners of parent increased by 13.2% to¥14,497 million.
IAAF World Championships Beijing 2015
© PHOTO KISHIMOTO

Broadcasting
Consolidated net sales from the Broadcasting Business

BS-TBS, INC. continued to perform well, posting a 3.2%

segment increased by 0.4% from the previous fiscal year toincrease in sales from the previous year through programming¥213,878 million, while operating income increased byand program production with the top priority on customer

15.1% to ¥4,800 million.

satisfaction as the BS digital broadcasting market remainedTokyo Broadcasting System Television, Inc., the core of the

firm. Despite factors including an increase in production costs

Broadcasting Business, posted a 0.3% decline in time revenue

accompanying efforts to strengthen programming, such as theand a 0.4% decrease in spot revenue for the fiscal year under

production of the 15th anniversary “big and special” programs,

review from the previous year. Regarding times sales, sales ofoperating income also increased 7.2% from the previous year.

regular programs remained almost flat from the previous year,

TBS Radio Inc. (formerly TBS Radio & Communications, Inc.)

while one-off programs, such as IAAF World Championships

continued to rank No. 1 in radio listener ratings research

Beijing 2015 in August and WBSC Premier12™ in November,conducted by Video Research Ltd. in the Tokyo metropolitan

contributed to sales. Spot sales failed to exceed the previous

area in February. Since the research undertaken for August

year on a full-year basis, although the volume of advertisements

2001, the company has retained the top position for 88

sponsors targeted in the Kanto region outperformed the previous

consecutive terms covering 14 years and eight months. Amid

year from late October.

the continuing difficult situation surrounding radio broadcasting,sales and operating income increased by 0.2% and decreasedby 28.7% for the fiscal year under review, respectively, from theprevious year, despite comprehensive efforts to enhance
profitability and control costs.

Tok yo Broadcasting System Holdings, Inc.

INVESTOR INFORMATION 2016

6

Business Report
From April 1, 2015 to March 31, 2016

Multi-Visual Ventures and Cultural Events

In the media business, while growth in the number ofNet sales from the Multi-Visual Ventures and Cultural Events

subscribers on each platform slowed in the CS business, TBS

Business segment decreased by 0.3% from the previous fiscal

News Bird started broadcasting regular season baseball games

year to ¥119,181 million, while operating income increasedof the Chiba Lotte Marines live. With regular season games ofby 9.9% to ¥4,842 million.

the Yokohama DeNA Baystars aired by TBS Channel 2, weMovies continued to perform well with Flying Colors,

broadcast baseball games of two teams and succeeded inreleased in May, becoming a smash hit, grossing ¥2.83 billion,

adding a considerable number of viewers. In the on-demandand Library Wars: The Last Mission, released in October,business, sales increased due to the growing popularity of theoutperforming the last episode by grossing ¥1.8 billion.

serial drama Downtown Rocket and the conclusions of new

Among exhibitions, The Great Amazon, held by the

distribution contracts with multiple distribution companies. In the

National Museum of Nature Science from March to June,business targeting overseas, with sales of the SASUKE format

attracted 270,000 visitors. Nearly 200,000 people visited

launched, sales rose steadily in all of its genres.

Vermeer and Rembrandt: The Masters of the 17th Century Dutch
Golden Age at the Mori Arts Center Gallery from January.
Among concerts and stage performances, Take Five and No.9Immortal Melodies were presented at the Akasaka ACT Theaterin May and in October, respectively. Both received good
reviews. At other theaters, the world premiere of Prince ofBroadway, the latest musical from Harold Prince, and the world
tour of Kafka on the Shore received particularly favorable
headlines. Akasaka Sacas presented a variety of events
throughout the year with Mama Sacas in the spring, Deliciacas
in the summer, and White Sacas in the winter.
Downtown Rocket

In the StylingLife Group, PLAZASTYLE COMPANY, its coreretailing business, continued to perform well, posting a sales
increase from the previous fiscal year. Although the cosmetics
business achieved solid growth, sales decreased as a whole,due to the liquidation of a group company during the term. On
the other hand, as a result of efforts to control costs, we secured
an increase in income.

Flying Colors© 2015 “Flying Colors” Film Partners

Tok yo Broadcasting System Holdings, Inc.

INVESTOR INFORMATION 20167

Business Report
From April 1, 2015 to March 31, 2016

Real Estate Business

3 Capital Procurement

Net sales from the Real Estate Business segment increased by

Total interest-bearing debt of the Group at the end of the

1.3% from the previous fiscal year to ¥15,479 million, andfiscal year under review was ¥53.6 billion (excluding lease

operating income increased by 5.2% to ¥7,532 million.

obligations), consisting of ¥30.0 billion in current portion

Operational status remained sound at all offices and stores in
Akasaka Biz Tower and Akasaka The Residence. Regarding
Akasaka Sacas, we aim to cement its status as a mecca for aof bonds and ¥23.6 billion in long-term loans payable(including the current portion).
In order to ensure flexible access to operating capital,creative broadcasting culture by continuing to hold various

as of the end of the fiscal year under review, StylingLife

events that bring the TBS Group and its programs closer to

Holdings Inc., a consolidated subsidiary of the Company,

customers and viewers.

had established the commitment line agreement, totaling¥3.5 billion with multiple financial institutions (the balanceof the funds drawn is nil, and the available balance is

2 Capital Investment¥3.5 billion).

Total capital investment in the fiscal year under review wassome account receivables are in the process of liquidation.

Besides the above, with the aim of streamlining of funds,¥11.0 billion.
Concerning equipment for producing television programs,
we upgraded imaging and sound systems in the Midoriyama
M5 Studio, which is a base for producing dramas. The TBS
Broadcasting Center in Akasaka, where comedy shows andlive programs are produced, upgraded imaging and soundsystems in the E-F Studio and the P Studio. To respond to
production of 4K programs in the future, we are introducing
image switchers that can be upgraded to 4K image systems.
Among internal core sales and broadcasting systems, afile-based system for the production of news and information
programs was introduced. Coinciding with the commencementof file-based operation, we reviewed the work flow ofconventional VTR-centered program production and have put all
tasks from recording raw materials and editing to distribution to
sub-control rooms into the file process system, making the work
flow more efficient. With the system in operation, all cameras
for recording news materials were replaced with memory-cardbased video camera recorders.
Regarding wireless equipment, we are upgrading FPU
equipment mainly for live broadcasting of road races andspecific radio mic equipment according to a radio frequency
shift plan. By the end of FY2017, we plan to have completed
the transitions of all related equipment.
In radio broadcasting, an FM relay station was opened at
Tokyo Skytree. The station, already popular under the nickname
Wide FM, is expected to become a key to disaster prevention
and respond to weak signal reception.

Tok yo Broadcasting System Holdings, Inc.

INVESTOR INFORMATION 20168

Consolidated Financial Statements
Consolidated Balance Sheets ( Unaudited )As of March 31, 2016 and 2015

Millions of yen

2015

2016

AssetsCurrent assets
Cash and deposits¥ 55,773¥ 74,273

Notes and accounts receivable—trade38,30938,850

Securities

1,206

1,001

Merchandise and finished goods

7,353

7,245

Program rights and work in process

7,759

6,173

589

561

Prepaid expenses

11,124

10,880

Deferred tax assets

3,381

3,666

Other

5,733

7,004

(104)

(177)

131,127

149,478

196,995

199,705

Accumulated depreciation(95,923)(102,822)

Buildings and structures, net

101,072

96,883

Raw materials and supplies

Allowance for doubtful accounts
Total current assets
Noncurrent assets
Property, plant and equipment
Buildings and structures

Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net

89,12190,281(79,988)(79,094)

9,133

11,187

27,85830,433(25,333)(27,635)

2,524

2,797

Land

84,01084,008

Lease assets

6,850

3,728

Accumulated depreciation(4,392)(1,826)

Lease assets, net

2,458

1,901

Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net

Construction in progress

3,904

2,211

203,104

198,988

Software

3,755

4,438

Goodwill

21,69920,392

Total property, plant and equipment
Intangible assets

Lease assets

180

129

Other

1,598

1,601

Total intangible assets

27,23426,560276,383

260,218

292

226

1,995

1,212

446

350

13,484

13,160

(337)

(225)

292,265274,942522,604

500,492¥ 653,732¥ 649,970

Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Long-term prepaid expenses
Other
Allowance for doubtful accounts
Total investments and other assets
Total noncurrent assets
Total assets

Tok yo Broadcasting System Holdings, Inc.

INVESTOR INFORMATION 20169

Consolidated Financial Statements
Consolidated Balance Sheets ( Unaudited )As of March 31, 2016 and 2015

Millions of yen

2015

2016

¥ 32,716¥ 34,048

200

—

1,200

1,200

Current portion of bonds—

30,000Accounts payable—other

9,495

11,768

Income taxes payable

3,752

4,671

Accrued consumption taxes

3,688

1,526

Accrued expenses

5,481

5,364

107

108

Other provision

1,634

1,247

Other

4,796

5,342

Total current liabilities

63,072

95,278

Liabilities
Current liabilities
Notes and accounts payable—trade
Short-term loans payable
Current portion of long-term loans payable

Provision for directors’ bonuses

Noncurrent liabilities
Bonds payable

30,000—Long-term loans payable

23,60022,400120

119

14,942

15,971

893

829

Deferred tax liabilities

50,48642,926

Other

14,498

14,236

Total noncurrent liabilities

134,541

96,483

197,613

191,762

Capital stock

54,98654,986

Capital surplus

59,52350,477Retained earnings

244,714

255,701

Treasury stock(36,749)(20,674)

Total shareholders’ equity

322,474

340,490

112,309103,362

Deferred gains or losses on hedges

663

294

Foreign currency translation adjustment

57

8

Remeasurements of defined benefit plans

285

(69)

113,315

103,596

Non-controlling interests

20,32814,121

Total net assets

456,118

458,208¥ 653,732¥ 649,970

Provision for environmental measures
Net defined benefit liability
Lease obligations

Total liabilities
Net assets
Shareholders’ equity

Accumulated other comprehensive income
Valuation difference on available-for-sale securities

Total accumulated other comprehensive income

Total liabilities and net assets

Tok yo Broadcasting System Holdings, Inc.

INVESTOR INFORMATION 2016 10

Consolidated Financial Statements
Consolidated Statements of Income (Unaudited)
As of March 31, 2016 and 2015

Millions of yen

2015

2016

¥ 347,817¥ 348,539

241,152

241,466

106,665

107,072

90,93689,983

15,72817,179

58

49

3,397

4,583

Equity in earnings of affiliates

968

1,030

Other

672

1,059

5,096

6,723

Interest expenses

949

777

Loss on retirement of noncurrent assets

250

171

Other

709

275

1,909

1,224

18,91522,678

3,004

478

—

61

3,004

539

Impairment loss

157

130

Loss on valuation of investment securities

594

105

Loss on business withdrawal

547—

Loss on sales of investment securities

119—

Loss on sales of shares of subsidiaries and associates

62

—

1,482

235

Profit before income taxes

20,43722,982

Income taxes—current

5,649

6,077

Income taxes—deferred

1,255

1,343

Total income taxes

6,904

7,421

Profit13,533

15,561722

1,064¥ 12,811¥ 14,497

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividends income

Total non-operating income
Non-operating expenses

Total non-operating expenses
Ordinary income
Extraordinary income
Gain on sales of investment securities
Gain on step acquisitions
Total extraordinar y income
Extraordinary loss

Total extraordinar y losses

Profit attributable to non-controlling interests
Profit attributable to owners of parent

Tok yo Broadcasting System Holdings, Inc.

INVESTOR INFORMATION 2016 11

Consolidated Financial Statements
Consolidated Statements of Cash Flows (Unaudited)
As of March 31, 2016 and 2015

Millions of yen

2015

2016

Income before income taxes¥ 20,437¥ 22,982

Depreciation and amortization

14,621

14,385

Cash flows from operating activities

Amortization of long-term prepaid expenses
Amortization of goodwill
Gain on valuation of investment securities
Gain on sales of investment securities

254

235

1,497

1,439

594

105

(2,884)(478)

Increase (decrease) in net defined benefit liability

368

(51)

Loss on retirement of noncurrent assets

250

171

Loss (gain) on step acquisitions

—

(61)

Increase (decrease) in allowance for doubtful accounts

(87)

(104)

Interest and dividends income(3,456)(4,632)

Interest expenses

949

777

Equity in (earnings) losses of affiliates(968)(1,030)Decrease (increase) in notes and accounts receivable—trade

(39)

(439)

Decrease (increase) in inventories

(482)
(362)

1,725

(1,555)

1,329

Decrease (increase) in prepaid expenses
Increase (decrease) in notes and accounts payable—trade306

Other, net

2,144(3,656)

Subtotal

31,282
3,572

33,003
4,877

(949)

(776)

Interest and dividends income received
Interest expenses paid
Income taxes refund

532

942

Income taxes paid

(6,585)27,851(5,709)32,337(8,247)(5,954)Purchase of intangible assets(969)(2,511)

Purchase of investment securities

(498)

(464)

7,859
(376)

661
(118)

—
(94)

(36)
(532)

(2,326)(8,956)

Net cash provided by operating activities
Cash flows from investing activities
Purchase of property, plant and equipment

Proceeds from sales of investment securities
Purchase of stocks of subsidiaries and affiliates
Proceeds from purchase of investments in subsidiaries resulting in change in scope of consolidation

Other, net
Net cash used in investing activities
Cash flows from financing activities
Decrease in short-term loans payable

—

(200)

Repayment of long-term loans payable(1,200)(1,200)

Redemption of bonds(20,000)

—

462

365

(3,389)(3,510)

(265)

(157)

Proceeds from disposal of treasury shares
Cash dividends paid
Cash dividends paid to non-controlling interests
Other, net
Net cash used in financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

(849)

(623)

(25,242)(5,326)

133

(49)

415

18,00556,312

56,728¥ 56,728¥ 74,734

Tok yo Broadcasting System Holdings, Inc.

INVESTOR INFORMATION 2016 12

Major IndicesEarnings per Share

Return on Equity

(Yen)

(%)

79.12

74.71

12/3

60.27

61.22

13/3

14/3

15/3

3.6

83.12

16/3

12/3

2.9

2.8

13/3

14/3

3.2

3.3

15/3

16/3

Ratio of Ordinary Income to Total Assets

Ratio of Operating Income to Net Sales

(%)

(%)

3.5
3.2

3.2

4.6

3.1

4.5

14/3

15/3

13/3

14/3

15/3

16/3

12/3

13/3

Equity Ratio

Net Assets per Share

(%)

(Yen)

2,689.56

55.5

12/3

4.9

3.5

2.5

12/3

4.4

58.7

13/3

63.3

14/3

66.7

68.3
2,025.89

15/3

16/3

12/3

2,158.00

13/3

16/3

2,545.60

2,263.65

14/3

15/3

16/3

Tok yo Broadcasting System Holdings, Inc.

INVESTOR INFORMATION 2016 13

Major Indices

Number of Shares Issued at the End of the Term
(Including Treasury Shares)

Amount of Treasury Shares at the End of the Term
(Shares)(Shares)

38,225,599 38,226,794

190,434,968 190,434,968 190,434,968 190,434,968 190,434,968

28,590,009 28,404,517

15,981,914

12/3

13/3

14/3

15/3

16/3

12/3

13/3

14/3

15/3

Cash Flows from Operating Activities

Cash Flows from Investing Activities(Millions of yen)

(Millions of yen)

30,072

16/3

32,33728,15627,851–2,32623,038–5,731–8,956–11,326–13,649

12/3

13/3

14/3

15/3

16/3

12/3

13/3

14/3

15/3

16/3

Cash Flows from Financing Activities

Cash and Cash Equivalents, at End of Period(Millions of yen)

(Millions of yen)

78,801

74,374

68,031–5,32656,312

56,728

14/3

15/3–16,993–25,475
12/3

13/3–23,567
14/3–25,242
15/3

16/3

12/3

13/3

16/3

Tok yo Broadcasting System Holdings, Inc.

INVESTOR INFORMATION 2016 14

Segment Information
Consolidated Results by Segment(Millions of yen)

FY2016External
sales

y/y change

Operatingincomey/y change

Broadcasting Business¥213,878+892¥ 4,800+629

Multi-Visual Ventures and Cultural Events Business

119,181

–371

4,842

+435

Real Estate Business

15,479

+201

7,532

+374

Consolidated Business¥348,539+721¥17,179+1,450Capital Expenditures and Depreciation
Consolidated(Millions of yen)

FY2016

Capital expenditures¥11,050

Depreciation

13,077

TBS Holdings
Capital expenditures
Depreciation

TBS Television
Capital expenditures
Depreciation

FY2016

¥

772
3,121

FY2016¥ 7,715
7,298

Tok yo Broadcasting System Holdings, Inc.

INVESTOR INFORMATION 2016 15

Segment Information
FY2017 Consolidated and TBS Television Business Results Forecasts(Millions of yen)

2017

Consolidated

FY2017

Net sales¥354,000

Operating income

15,000Ordinary income

20,500

Profit attributable to owners of parent

12,500Business Results Forecast by Segment(Millions of yen)

Consolidated

FY2017

Consolidated net sales¥354,000Broadcasting Business

217,200

Multi-Visual Ventures and Cultural Events Business

121,500

Real Estate Business

15,300Consolidated operating income

15,000Broadcasting Business

2,800

Multi-Visual Ventures and Cultural Events Business

5,100

Real Estate Business

7,100(Millions of yen)

2017

TBS Television

FY2017

Net sales¥214,000

Operating income

5,000

Ordinary income

7,600

Net income

5,300

Time/Spot, Program Cost Forecasts
1st half

2nd half

Time

-0.6%

+0.8%

+0.1%

Spot

+4.5%

+2.7%

+3.5%

—

—

¥99,200 million

Program cost

Full year

Note: The estimated figures above, which were announced on May 11, 2016, are subject to revision. For the most up-to-date estimated figures, please see theCompany’s web site.

Tok yo Broadcasting System Holdings, Inc.

INVESTOR INFORMATION 2016 16

TBS Television 1
Breakdown of TBS Television Income(Millions of yen)

FY2016y/y change¥181,032+81

Time advertising

84,930–259

Spot advertising

83,554–294

Program sales in Japan

3,596

+187

Others

8,951

+447

Operations

26,350+937

Real estate

2,969

–0

¥210,353+1,017

Television

Total income

Year-on-Year Changes in Time/Spot Earnings
(%)

150

136.7

Time
Spot
120

109.3

90

100.1

100.2

99.8

98.4

102.1

98.1
91.3

105.4

106.3

107.3

100.0

100.8

104.0

Nov.

Dec.

Jan.

95.8

94.9

104.9
100.0

100.2
97.5

86.2

82.6

77.7

60
2015

Apr.

2016

May

Jun.

Jul.

Aug.

Sep.

Oct.

Feb.

Mar.

Q1

Q2

Q3

Q4

Full year● Time

93.4

101.4

102.4

101.7

99.7

● Spot

97.0

97.9

101.0

102.7

99.6

19.0

18.3

18.6

18.4

18.6

TBS share among five key broadcasters

Asa Chan!

SUNDAY MORNINGHIRUOBI!

Tok yo Broadcasting System Holdings, Inc.

INVESTOR INFORMATION 2016 17

TBS Television 2
Spot Advertising Sales Ranks by Business Category
FY2016(%)

Growth rate

Share

1

Information, telecommunications, and broadcasting

+7.9

13.5

2

Foods

+6.0

10.7

3

Alcoholic and other beverages

–9.1

9.9

4

Pharmaceuticals

+0.6

9.3

5

Cosmetics and toiletry

+7.0

8.1

6

Financial services

+6.3

6.9

7

Automobiles and transportation equipment

–27.0

6.1

8

Precision instruments and office machines

+15.0

6.0

9

Transportation and leisure

–2.9

4.8

10

Distribution

–0.1

4.4

(Ranked in order of sales proceeds)

TBS Television Business Segment Income
Segment+166

Revenue increased in the full year, partly due to large events such as Vermeer and Rembrandt
in the fourth quarter, although the number of events was lower than the previous year.

3,646

-458

Revenue declined in reaction to the strong sales of Stars on Ice in the previous year, despite
strong sales of TAKE FIVE and Number 9 – Immortal Melody, in addition to REON JACK in the
fourth quarter.

Movies1,714-42Although revenue declined due to a rebound from the strong sales of DVDs of SPEC: Close in
the previous year, profit increased thanks to the strong sales of Flying Colors and Library Wars:
The Last Mission.

Animation

975

-275

Revenue fell due to the weak sales of newly released animations.

Multi-visual business(DVDs)

1,960

+323

Revenue rose, mainly due to the strong sales of Ouroboros and Library Wars: Book ofMemories in the full year, in addition to Downtown Rocket that was released in March.

Overseas business

2,186

+592

Revenue increased significantly due to the effect of the global launch of SASUKE, in addition tosales in Asian markets that continued to be strong.

Pay-TV business

10,784+1,053

The revenue of the CS business climbed, reflecting a stable increase in subscriber numbers for
TBS Channel 2 and News Bird. TBS on demand also continued to show solid performance.

961

-236

Revenue declined as regular TV infomercials were sluggish, although the sales of Gudetama
continued to be strong.

1,630

-186

Revenue decreased because the mobile phone billing business was almost closed, in addition
to the contraction of the gaming business.

¥26,350+937

Show businessMoviesandanimationbusiness

Content
business
division

Remarks¥ 2,489

Cultural business (events)

Operations
divisionFull year y/y change(Millions of yen)

Licensing business
Smart Media business
Total

Pittanko Kankan

Monitoring

Bakuhou! THE Friday

Tok yo Broadcasting System Holdings, Inc.

INVESTOR INFORMATION 2016 18

TBS Television 3
FY2016 Viewer Ratings
All day

Golden time*

Prime time**TBS

5.9 (5th)

9.8 (4th)

9.8 (3rd)NTV

8.5 (1st)

12.4 (1st)12.2 (1st)TV Asahi

7.2 (2nd)10.8 (2nd)11.0 (2nd)TV Tokyo

3.0 (6th)

6.7 (6th)

6.5 (6th)

Fuji TV

6.2 (4th)

8.9 (5th)

9.0 (5th)NHK

6.7 (3rd)

10.5 (3rd)

9.2 (4th)

HUT

40.7

61.5

59.7

Ratings for March 30, 2015 to April 3, 2016, on a weekly basis* 19:00–22:00** 19:00–23:00(%)(According to research by Video Research Ltd. in the Kanto region)

TV Program Cost (Production Expenses)(Millions of yen)

FY2016FY2015y/y change

Q1¥23,528¥25,703–2,175

Q2

24,72524,146+579

Q323,47323,538–65

Q424,39822,988+1,411

Direct expenses

18,92817,672+1,256

Indirect expenses

5,471

5,316

+155

Fiscal year cumulative¥96,125¥96,376–251

Next fiscal-year forecast¥99,200

Major expenses included in TV program cost:Direct expenses:

Program production expenses, fees for broadcasting rights, fine arts production expenses,
technical production expenses

Indirect expenses:

Absorbed cost including depreciation and personnel cost for employees

THE EMPEROR´S COOK

PLEASE LOVE ME!

Tok yo Broadcasting System Holdings, Inc.

INVESTOR INFORMATION 2016 19

Financial Data of Major Group Companies
TBS Radio Inc.

(Millions of yen)

FY2016
AmountNet salesy/y change¥10,674+16

Operating income

346

–139

Ordinary income

352

–153

Net income

210

–41

Recorded the highest ratings for 90 consecutive periods from August 2001 to June 2016.

BS-TBS, INC.

(Millions of yen)

FY2016
AmountNet salesy/y change¥16,102+494

Operating income

2,361

+159

Ordinary income

2,394

+161

Net income

1,561

+217

Grand Marche, Inc.

(Millions of yen)

FY2016
AmountNet salesy/y change¥13,939+617

Operating income

155

+93

Ordinary income

172

+99

Net income

84

+57

Tok yo Broadcasting System Holdings, Inc.

INVESTOR INFORMATION 2016 20

Financial Data of Major Group Companies
StylingLife Holdings Inc. (Consolidated)(Millions of yen)

FY2016
AmountNet salesy/y change¥65,379–1,028Operating income

2,314

+525

Ordinary income

2,735

+870

Net income

1,539+1,450BARBAPAPA© 2014A.T. & T.T.

Tok yo Broadcasting System Holdings, Inc.

INVESTOR INFORMATION 2016 21

TBS Networks
JNN (Japan News Network)
J R N (Japan Radio Network)
TBS Television and TBS Radio harness two of the most extensive commercial
broadcasting networks in Japan, in which 28 TV stations affiliated with theJapan News Network (JNN) and 34 radio stations affiliated with the Japan
Radio Network (JRN) nationwide guarantee thorough and quality
news gathering.
Our news network delivers accurate information in a split second, in alliancewith overseas bureaus placed in 10 major cities around the world.

HBC

ATV
RAB
ABS

JNN

JRN

Television

Radio

IBC

TUY
YBC
BSN
KNB
TUT

MRO
FBC

BSS
TYS
KRY

RKB
NBC

OBS

ITV
RNB

RKC
KUTV

RKK
MBC

RSK

RCC

RNC
JRT

MBS
ABC

CBC

TBC
TUF
RFC

SBC

UTY
YBS

TBS
TBS R&C
SBS

WBS

MRT

RBC

JNN Overseas Bureaus

London (& Middle East)

Moscow
BerlinBeijingShanghai

SeoulTokyo (TBS)Los Angeles

New York
Washington, D.C.

BangkokTok yo Broadcasting System Holdings, Inc.

INVESTOR INFORMATION 2016 22

Tokyo Broadcasting System Holdings, Inc.
5-3-6 Akasaka, Minato-ku, Tokyo 107-8006, Japan
Phone: +81-3-3746-1111 Fax: +81-3-3588-6378
www.tbsholdings.co.jp/ir/en/