Chapter 3

Value Creation Story

TBS At a Glance
TBS will provide wonderful “moments” for everyone through content
and services that are loved through the ages and contribute to the realization of a sustainable society full of hope where diverse values arerespected.

We provide a diverse range of services that go beyond the traditionalframework of broadcasting
The TBS Group provides a diverse range of services from production and sale of video and audio software, to cultural businesses,
lifestyle businesses, and real estate leasing, in addition to the television and radio broadcasting business.

TBS HOLDINGS, INC.

TBS content gains wide support through a variety of media
In FY2020, TOKYO BROADCASTING SYSTEM TELEVISION, INC. gained the second ranked viewer ratings in the Family Core (maleand female individuals age 13 years to 59) demographic for both the golden time (19:00-22:00) and prime time (19:00-23:00) slots.
TBS RADIO, Inc. has maintained the top listener ratings for 19 years and 10 months in a row (as of April 2021). TBS ranked top out of
the five Tokyo television stations on the full-year number of views for free catch-up streaming, which includes the TVer streaming
service. The number of downloads of the Paravi subscription video streaming app exceeded 10 million. TBS content has gained highlevels of support in each media. We also deliver unique value in the lifestyle and real estate areas.

Media Content Business(Six core companies)(1) TOKYO BROADCASTINGSYSTEM TELEVISION, INC.
(2) TBS RADIO, Inc.
(3) BS-TBS, INC.
(4) TBS SPARKLE, Inc.
(5) TBS GLOWDIA, Inc.
(6) TBS ACT, INC.

(7) CS-TBS, INC.
(8) SEVEN-ARCS Co., Ltd.
(9) T
 C Entertainment
Incorporated(10) TBS International, Inc.
(11) T BS MEDIA RESEARCHINSTITUTE Inc.
(12) NICHION, INC.

FY2020 Family Core Demographic Viewer Ratings (male and female aged 13 – 59)

Centered on TOKYO BROADCASTING SYSTEM TELEVISION, INC.,
the heart of the TBS Group, the Media Content Business provides
high-quality audio and video content through all types of media,
including terrestrial, radio, and satellite broadcasting, in a comprehensive manner from upstream to downstream production.
The business handles an unparalleled range of media and also
has the infrastructure to adapt flexibly to globalization and therecent trend toward digital transformation (DX).
The Media Content Business also focuses on live entertainment,
including events and shows, and aims to constantly provide newforms of entertainment for all by bringing together the strengthsof the TBS Group.

Golden time (19:00-22:00),
prime time (19:00-23:00) slots 2nd
All dayTBS
Nippon TV
TV Asahi
TV Tokyo
Fuji Television

Lifestyle Business(13) StylingLife Holdings Inc.
(PLAZASTYLE COMPANY, BLC COMPANY)(14) CP Cosmetics Inc.
(15) LightUp Shopping Club Inc.

The Lifestyle Business focuses on businesses that provide customers
with new lifestyles by inextricably reaching into every consumer setting, such as retailing through PLAZASTYLE COMPANY, which operates
stores throughout Japan, mail-order sales, and the mainstay beauty
and wellness business. Another major feature of the Lifestyle Businessis that it independently holds a huge amount of data, such as customer
data, that can contribute to expanding TBS Group synergies.

③ 2.4

+0.4

*First time since the start of individual viewer
ratings surveys in 1997

Golden time

Prime time

Non-prime time

(19:00-22:00)(19:00-23:00)(6:00-19:00, 23:00-24:00)

② 4.5

+0.4

② 4.6

+0.4

③ 1.8

① 4.5

① 7.2

① 6.9

① 3.8

⑥ 0.9

⑥ 2.4

⑥ 2.2

⑥ 0.5

③ 2.4

④ 4.0

② 2.8

NHK

⑤ 1.4

PUT

15.9

② 4.5
⑤ 3.3
28.0

④ 4.3
③ 4.5
⑤ 2.8
27.3

TBS Radio Top listener ratings for 19 years, 10 months in a row (as of April 2021)
BS-TBS	
Triple crown for daytime, golden time (19:00-22:00), and prime time
(19:00-23:00) slots (both individual and household)Free Catch-up Streaming

+0.4

③ 1.8

② 2.4
⑤ 1.0

12.6
[March 30, 2020 to March 29,
2021: weekly basis]
Survey by Video Research, Ltd.:
Kanto region

App Downloads

Real Estate and Other Business(16) Akasaka Heat
Supply, Co., Ltd.
(17) TBS Kikaku Co., Ltd.
(18) TBS Sunwork, Inc.

Net sales andoperating profit
by segment(19) TBS HEXA. Inc.
(20) M idoriyama Studio
City, Inc.

The Real Estate and Other Business is mainly engaged in the operationand management of the real estate owned by the TBS Group, with
TBS Broadcast Center and Akasaka Biz Tower heading the list. It is also
involved in urban development projects around the Akasaka area toremake Akasaka into a city offering “the greatest emotional experiences in the world.”¥15.9 billion
2021/3¥55.9 billion¥2.8 billion

Media Content Business
Lifestyle Business
Real Estate andOther Business¥0.2 billion¥253.7 billion

Note: Net sales (outer circle) is from sales to external customers.
Operating profit (inner circle) is segment profit.

22

TBS Group Integrated Report 2021

¥7.6 billion■ Consolidated net sales¥325.6 billion■ Consolidated operating profit¥10.8 billion

Number ofviews

of five Tokyo stationsFirst out
(FY2020)

Net sales

UpMonthly average 32.85 million views(up 42% year on year)

46% year on year

[Number of stores of each StylingLife Group company*]
PLAZA.......................... 122 storesOver 10 million(Approx, double year on year)[Real Estate and Other Business]
Real estate operated by the TBS GroupCP Salon....................... 1,240 stores
LightUp........................ 4 stores
BCL............................... 28 stores*As of March 2021

TBS Broadcast Center/Akasaka Biz Tower/
Akasaka The Residence/TBS Akasaka ACT Theater/
The Hexagon/Midoriyama Studio City/Kinuta Studio/
TBS Housing, etc.

TBS Group Integrated Report 2021

23

Chapter 3

Value Creation Story

TBS’s Growth Trajectory

2020

Ever since its founding, the TBS Group has maintained broadcasting as its core business while also expanding into awide range of other businesses, such as films, stage productions, real estate, and retail. Through its varied content
services, TBS Group has provided viewers, listeners, and customers with wonderful “moments.”
One trait that TBS Group has placed a high priority on since
its founding in 1951, down to the present as it approaches its
seventieth year, is its enthusiasm for delivering high-quality
entertainment. Each one of us has worked to bring people
emotionally involving experiences and the truths that lie hidden in their everyday lives. As a broadcasting company, TBS
maintains television and radio broadcasting as the core of its
business, but it has also expanded into films, live entertain-

ment, real estate, retail, and a wide range of other businesses. In response to the proliferation of channels and digital TV,
it is also emphasizing its commercial video streaming service
TVer and its subscription video streaming service Paravi. In
the summer of 2022, it will present the worldwide smash hit
stage production of Harry Potter and the Cursed Child in a
specially equipped theater in Akasaka.

Media Content Business
Lifestyle Business

TBS Akasaka ACT Theater
A new, fully equipped entertainment
theater in Akasaka

JNN News
The first news network in commercial
broadcasting

JOKR-TV
Founded in 1955 as a television station,
it became the only station in Tokyo tooffer both radio and television services

2000
Harry Potter and the Cursed Child
This stage production will make its Asianpremiere in summer 2022

1990

1980

Real Estate and Other Business

1950

2010

Popular worldwide, it has been a major
hit in the United States under the title
American Ninja Warrior

1970(developing experience and value businesses)
ブランドカラー

特色 : PANTONE 632 C

ブランドカラー特Internet streaming systems

色 : PANTONE 7458 C

分解色 : C 74% M 29% Y23% K0%

分解色 : C 57% M 19% Y 20% K 0%

R G B : R 55 G 154 B 188

R G B : R 117 G 179 B 200(proactive investment and joint ventures)

Lifestyles (growth through attracting young customers)
Akasaka Entertainment City Plan
succession of famous andLive entertainment ( atalked-about
productions )Takeshi’s Castle

1960

Intellectual training and education

SASUKE

Takeshi’s Castle is broadcast in 159
countries and regions around the world

Communication Satellite and Broadcast Satellite(24-hour news on CS, and the most popular set of programs on BS)
Akasaka into a city that
Real estate ( remaking
provides wonderful “moments” )of programming
Overseas expansion ( sales
and program formats )Television (TBS’s core business of media content)“starting point,” with the greatest
Radio ( TBS’s)
number of listeners in the Kanto area

Times and Environmental Changes▶ The 1950s

The early days of broadcastingFirst radio, then television

New Businesses
1951: TBS radio goes on the air
1955: TBS television goes on the air▶ The 1960s▶ The 1970s▶ The 1980s▶ The 1990s▶ The 2000s▶ The 2010s▶ The 2020s

The period of rapid economic
growthTelevision becomes the principal form of media

The oil crisis, color TV becomes
available
TBS Entertainment enjoys aseries of successes

Video recording technology
becomes widespread
Finding our way in the era of new
media

Evolving live broadcast technology:“from outer space” and “from thebattlefield”
Ventures into non-broadcast entertainment

Multiple channels via satellite anddigital terrestrial broadcasting
Moving into lifestyle businesses

The spread of the internet
A shift to “digital first”
TBS launches a video streaming
business

TBS expands into businesses
beyond broadcastingIntellectual training and education, Akasaka Entertainment City
Plan

1995: Akasaka Musical Theater (later renamed TBS Akasaka ACT Theater) opens

2015: Participation in the commercial video streaming system TVer

1996: Live performance venue Akasaka BLITZ opens

2017: IHI Stage Around Tokyo opens

1998: News via cable, News Bird, goes on the air

2018: The subscription video streaming service Paravi starts

2000: Satellite broadcasting goes on the air BS-i (renamed as BS-TBS, INC.)

2020: Establishment of the next-generation educational development company,
Schop2008: Akasaka Biz Tower opens
2008: StylingLife Holdings Inc. becomes a subsidiary

24

TBS Group Integrated Report 2021

2028: P rojected completion of Akasaka Entertainment City in the Akasaka
2-chome and 6-chome areas

TBS Group Integrated Report 2021

25

Chapter 3

Value Creation Story

The Growth Trajectory of Our Content
Most of TBS’s collections of content (programs, video streaming, films, and live performances) are made with aneye toward taking a close look at society and taking a leading role in this era. TBS wants its customers to be moved
and comforted by its content and to find hints about the future while enjoying wonderful “moments.”

3
2021

Special Programming

TBS’s content, including its dramas, has given rise to words
and expressions that became popular with the generalpublic, including such as juugosai no haha “fifteen-year-old
mother” from Mr. Kimpachi in Class 3B, “barrier free” fromBeautiful Life, arafoo an abbreviation of the program title Around 40, baigaeshi “paying back double” from Naoki
Hanzawa, and muzukyun :being desperately attracted tosomeone and not knowing what to do about it” from The
Full-Time Wife Escapist. By capturing the mood of society
and portraying as yet unexposed problems, TBS’s content

arouses viewers’ sympathies on a wide range of issues andserves as a starting point for influencing society. TBS does
not limit itself to ephemeral entertainment but provides acollection of programming that touches people’s hearts, remains with them a long time, and sometimes even influences their lives. TBS’s content creators are allying themselveswith many partners to produce new works, believing thatthe combined wonderful “moments” that people experience will affect the way in which they create a better tomorrow.

Drama

Relentlessness is
Found Everywhere

1958-

1998

4

2
Mr. Chikushi, a Japanese journalist, invited then-US President Clinton to thestudio during his visit to Japan and had
him engage in dialogue with Japanesecitizens.

Variety
Drama

Come On! It’s 8PM

1969

Drama

I’d Rather Be a
Shellfish

1990

1

Tetsuya Chikushi News23
President Clinton Special

NAOKI HANZAWA

Drama

1 The Full-Time Wife Escapist New Year’s Specialin January 2021
2 Dragon Sakura, on Sunday Theater program
3 The Tuesday drama Why I Dress Up for Love
4 The Friday drama How to Get a Divorce for the
Whole Family

2013This soap opera portrays the everyday
life of a family and has been a favorite of
the Japanese people for many years.

1958
The gold standard for live variety show
broadcasts, it charted a new course with
its use of a revolving stage in its wildly
creative comedy sketches.

Special Programming

A project to Commemorate the 40th
Anniversary of TBS’s Founding

Correspondent Akiyama,
the first Japanese Personin Space-2021

A major hit drama that earned a 44.1%
viewer share. The recurring line “I will
pay them back double” has become awatchword among workers across Japan.

1990

Music ProgramThis drama commemorates Japanese citizens who were punished as Class C war
criminals and asks questions about war
and peace.

The Best Ten

Reportage

NewScope

Sending the first Japanese person into
space was a massive project accomplished with the cooperation of theSoviet Space Agency.

1962
This program presents songs in various
genres, ranked by sales. It has served as
an innovative model for the music programs that came after it.

The first news program in Japan to employ newscasters instead of announcers,
it continues to provide cutting-edge
reportage.

26

TBS Group Integrated Report 2021

Overseas Sales (Programs and Formats)

1978

1990-

TBS has been selling its content overseas for more than sixty
years. In addition to selling the dramas, anime, and films thatit has produced, TBS has also been a world pioneer in “format sales,” that is, selling program concepts and production
expertise. In recent years, it has expanded its activities into
multimedia uses of its Intellectual Property and joint production and streaming projects with companies overseas.
TBS has produced many programs that have become
worldwide hits, including Happy Family Plan, Waku Waku
Animal Land, and K-ON. Since its premiere in 1987, Takeshi’sCastle has been shown in 159 countries and regions. In 2003,
TBS began marketing SASUKE/Ninja Warrior overseas, and it
is now enjoyed by viewers in 165 countries and regions. In
particular, the locally produced U.S. version, American Ninja
Warrior, has been a flagship program for the American terrestrial broadcaster NBC, broadcast during primetime since2009, and continuing to attract fans.
In addition to these programs, TBS is marketing morethan 200 different products in the United States online andthrough a network of brick-and-mortar shops. In the United Kingdom, it has been diversifying its activities by going
into businesses such as theme parks in more than ten British
cities.

The American version of SASUKE
American Ninja Warrior

Takeshi’s Castle Thailand

TBS Group Integrated Report 2021

27

Chapter 3

Value Creation Story

Strengths and Business Model

Content and Platforms

The value creation of the TBS Group consists of “making” and “delivering” wonderful “moments.”
By “sharing” our created content with stakeholders, we aim to gain various insights to achieve growth andfurther creation of value.

TBS is creating a diverse array of content and services that go far beyond the framework of broadcasting.
Our diverse platforms deliver our content and services to all.

The “creativity” that we have developed and passed down
through our television and radio production is the origin of
our strengths. By “making” and “delivering” high-quality
content that reflects the times and society, or that focuseson social issues that are ahead of the times, we have gained
the empathy of many people and built up our own uniquevalue. Today, the content we produce is no longer limited tobroadcasting, but has expanded to include online stream-

For TBS, which came into being as a broadcasting station,“content” was originally “programs” which were delivered
to viewers, listeners, and customers via terrestrial broadcasting. TBS has delivered “moments that move the heart”
through such programs as dramas, variety shows, news,
sports, and anime, and we have expanded our business andservices with the times. We have launched businesses in satellite broadcasting, movies, theater, musicals, live music, realestate, retail, and virtual reality/extended reality (VR/XR), as
well as taking on new challenges in intellectual training anding, movies, theater, retail, education, and real estate, andwe are continuing to create new value. We will aim for further “growth” toward being a sustainable corporate groupby delivering wonderful “moments” in Japan and overseas,“sharing” them with viewers, listeners, and customers, andgaining their “trust” through our powerful “reach” using diverse platforms including broadcasting, theaters, and stores.

Our Business Model

From each moment, a better tomorrow.

Main Content and Platforms

最高の “時”

Content•Television and radio content(Dramas, variety shows, news, sports, anime, etc.)

li
De

ve

r t hr o u g h pla

t fo

rm

•Performance contentte co nte n

Creat

w it h s t a ke h

old
e

Trust

rs

accumulated byobserving society
and the times

arethrough diverse platforms,
including broadcasting,theater, and stores•Program formats•Mangaand music

テレビ 番 組 ・•Intellectual
ラジ オ 番training
組 and education(SCHOP Inc., etc.)

映画 ・ 演劇 ・ 音楽公演

•Household goods, Apparel etc.

LifestyleBusiness

マ ン ガ •Cosmetics,
・ I P Quasi-drugs etc.
•Character licenses

独自開発
技術
aesthetic care etc.
•Facial•Building leasing

多 様 な プ ラ ットフォ
condominiums•Residentialーム

Grow wi t h so c i et y

平和 ・ 自由 ・人権•Radio broadcast

多様な価 値•Web streaming platforms

Real Estate andOther Business•Theaters(TBS Akasaka ACT Theater, IHI Stage Around Tokyo, etc.)

コ ン テンツ intellectual property,•Patents,Shof content that ispassed down andrefined throughthe generations•Terrestrial & satellite broadcast•Recorded media (DVD/BD etc.)

Media Content
Business

Reach

Platform(Movies, theater, musicals, live music, etc.)s

Creation

明日のeducation, manga, and more. The value running through allof these business domains is our desire to deliver wonderful“moments” that move the heart, and we consider everything
we create through our business activities to be content in the
broadest sense of the word.
Our diverse platforms support this content. The main
platforms for the content of TBS include the finite airwaves
entrusted to us by the public, movie theaters and theaters,
online streaming, real estate and stores, and the Akasaka Entertainment City Plan.

•Studios, parking lots

地上波放 送 ・ 衛星放 送•Overseas broadcast & streaming
company

公正 ・ 正確

環 境 保 護 と社

•Stores (TBS Store, THE MARKET, etc.)

知育教育•Licensed Retailers•Akasaka Sacas•Stores (PLAZA VECUA Honey)•Wholesaling (Domestic drug stores)•Licensed retailers (CP Salon)

環境 ・ 社会へ•E-Commerce & Catalog sales•Overseas general trade•Akasaka Biz Tower,
The Hexagon Building, etc.
•Akasaka The Residence•Midoriyama Studio, Kinuta Studio•Heating & cooling, electricity

インターネット
28

TBS Group Integrated Report 2021

劇場 ・ 店舗 ・ 各種媒体

TBS Group Integrated Report 2021

29

Chapter 3

Value Creation Story

Value Creation Process

The TBS Group will create content and services that are loved
by people around the world throughout the ages and contribute to the realization of a society full of hope in which
diverse values are respected.
The driving force behind our value creation is making theutmost effort so that people connect with TBS content andservices for the longer “moments” of the “disposable time”
they are able to spend freely during their lives. We create“high-quality entertainment” and “information lifelines”

to support life and living in collaboration with our many
partners and achieve “reach” through our diverse and extensive range of platforms, including the airwaves, theater,and stores. It is our aspiration to grow TBS and contributeto making “a better tomorrow” by enabling more viewers,
listeners, and customers to spend “wonderful moments” andbuilding up “trust” by responding to feedback with sincerity.

A bettertomorrow

Wonderful“moments”

Six Capitals
Human Capitalli
De

Outstanding people to create
the wonderful “moments”

vert hr o u g h plat for m

A society where peace, freedom, and human rights are protected
Respect for diverse valuessCommunication of fair and accurate information

Intellectual CapitalSocial and
Relationship Capital

Natural Capital
Promotion of green energy

Trustaccumulated byobserving society
and the times

Gro
w wi t h so c i et yrs

A starting point
for influencing
societyReachthrough diverse platforms,
including broadcasting,theater, and stores

Protection of the environment and solution of social issues

Content
Enhancement of intellectual training and education
Dramas, variety shows, and news
Sports and events

Environmental and Social Impact

Movies, theater, and musical performancesdeFinancial Capitale co nte n

Sites that create content

Creationof content that ispassed down andrefined throughthe generations

Creat

Collaboration with partners

w it h s t a ke h o lManufactured Capital

are

t

Sh

Content and proprietary
technologies

Manga, intellectual property, and proprietary technologies

Diverse Platforms
Terrestrial and satellite broadcasting
Internet
Theaters, stores, and various media

INPUT

30

TBS Group Integrated Report 2021

BUSINESS MODELOUTPUTOUTCOMETBS Group Integrated Report 202131