Chapter 1

Introduction

Corporate Philosophy / Brand Promise
Corporate Philosophy

TBS Group Code of Conduct
Providing Content, Information, and Services that Enrich the Mind
— Pledge to Our Customers

The TBS Group aims to deliver timeless content and services to the world,
respecting diverse values and striving
to make a positive contribution to society.

Brand Promise
To create entertaining and inspiring experiencesthat move hearts and minds.

From each moment, a better tomorrow.

■ Offer wonderful moments to each and every person
We will continually strive to be inventive and go beyond time and place to provide high quality, captivating contents, events, products, and services that enrich the mind.
■ Communication of fair, just and accurate
We will honor the freedom of expression, strive to disseminate fair, just and accurate information, and fulfill our
mission as a media organization.
■ Respect for feedback from viewers, listeners, and customers
We will listen closely to feedback from viewers, listeners, and customers and continually provide a worthwhiletime to ever more people.

Respecting Diverse Values and Striving to Make a Positive Contribution to Society— Pledge to Society■ Respect for human rights and diversity
We uphold human rights, respect diverse values, and reject all forms of discrimination and prejudice.
■ Philanthropy and environmental preservation
We value our bonds with society and harmony with nature, and will work together with a sustainable society tobuild a better environment.
■ Legal compliance
As a member of a media group, we have a strong sense of ethics, uphold laws and social norms, respect all faiths,
and conduct ourselves with fairness and transparency.

Aiming to Realize our Philosophy with a Free Spirit— Pledge to Our Staff■ Development of outstanding talent
We develop outstanding talents that have a powerful sensitivity and the capacity to build the future. Accepting ofdiverse working styles, we will continue trying new things with a view to the future in the world.
■ Building uninhibited workplaces
Because people accepting each other with a free spirit are important to us, we build workplaces where everyone
can develop their creativity to the fullest.
■ As a member of the GroupIn recognition of ourselves as a member of the TBS Group, and towards the realization of our corporate philosophy, we seek to work with all staff to make ourselves a media group second to none.
April 1, 2020

TBS Group Integrated Report 2021

1

Chapter 1

Introduction

On the Release of the Integrated Report / Editorial Policy /Table of Contents

On the Release of the Integrated Report
TBS underwent a complete transformation between 2020 and 2021.
Along with formulating its Corporate Philosophy, Brand Promise, and TBS Group Code of Conduct (April 2020), theCompany changed its name from “Tokyo Broadcasting System Holdings, Inc.” to “TBS HOLDINGS, INC.” (October 2020).
We also established TBS Group VISION 2030 (May 2021), as a guideline for finding the “ideal TBS” — a TBSthat goes beyond broadcasting and Tokyo. We have also gradually reorganized the Group while consolidating andstrengthening corporate resources.
During these uncertain times, which have in part been fueled by the worldwide COVID-19 pandemic, thesocial mission that the TBS Group must fulfill is taking on increased importance. With a focus on providing quality
entertainment and bringing lives together through “information lifelines,” we aim to bring the world wonderful“moments” for a new age while being a growing corporate group tirelessly engaged in self-improvement.
As a means to inform our shareholders, investors, and all other stakeholders about this decision and the journeyof self-improvement, this year the TBS Group released an integrated report for the first time. We hope this report will
give readers a general perspective on the TBS Group and shed light on our past, present, and future efforts to achieve
continuous growth.
Takashi Sasaki
President & Representative Director
TBS HOLDINGS, INC.
TOKYO BROADCASTING SYSTEM TELEVISION, INC.

Editorial Policy<Scope>This report covers the activities of TBS HOLDINGS, INC. and TBS
Group companies (20 consolidated subsidiaries, listed elsewhere).

<Reporting period>

Section 4 Business-Specific Strategies

While this report generally focuses on April 2020 to March 2021,
the current financial reporting period, it also includes content frombefore and after this period that is needed to provide news andimportant information.

Business Outline・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 32
Media Content Business・ ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 34
Lifestyle Business・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 36<Content>

Table of Contents

This report contains information important for short, medium, andlong-term value creation at TBS HOLDINGS, INC. and TBS Group
companies, as well as for its impact on stakeholders.

Section 1 Introduction
Corporate Philosophy / Brand Promise<Guidelines referenced>

TBS Group Code of Conduct・ ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 1
On the Release of the Integrated Report /Editorial Policy / Table of Contents・ ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 2

Detailing businesses and activities aimed at TBS Group value
creation, this report was prepared based on such documents
as “Integrated Reporting (IR)” by the International Integrated
Reporting Council, an international framework for integrated
reporting, as well as the Ministry of Economy, Trade and Industry’s“Guidance for Integrated Corporate Disclosure and CompanyInvestor Dialogues for Collaborative Value Creation.”Content concerning sustainability was prepared based on
documents such as the Ministry of the Environment’s “Environmental
Reporting Guidelines 2018” and the Global Reporting Initiative’s“GRI Sustainability Reporting Standards.”

TBS over the Last 12 months・ ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 4
Message from the President・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 6
Sustainable Development Goals (SDGs) Campaign“Week to Make the Earth Smile”・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・11
Section 2 Long-Term Vision andMedium-Term Management Plan

TBS Group VISION 2030・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・12
TBS Group Medium-Term Management Plan 2023・・・・・・・・・・・・・・・・14
Akasaka Entertainment City Plan・ ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・16
Message from the Head of Finance Strategy・・・・・・・・・・・・・・・・・・・・・・・・17
Financial and Non-Financial Highlights・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 20

TBS Group
Integrated Report 2021

Section 3 Value Creation Story<On the Cover>
From each moment, a better tomorrow.

66.6°
23.4°

2

TBS Group Integrated Report 2021

The cover of this report features our Brand Promise
superimposed on the letter “T” in TBS.
The “66.6° (from the TBS’s television channel)” and“23.4° (the angle of Earth’s axial)” at the foot of “T” areused in the new TBS logo design (details on Page 4).

TBS At a Glance・ ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 22
TBS’s Growth Trajectory・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 24
The Growth Trajectory of Our Content・ ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 26
Strengths and Business Model・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 28
Content and Platforms・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 29
Value Creation Process・ ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 30

Real Estate and Other Business・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 38
Section 5 Non-Financial CapitalTBS’s Non-financial Capital and Strengths・・・・・・・・・・・・・・・・・・・・・・・・・・・ 40
Human Capital・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 42Intellectual Capital・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 44
Social and Relationship Capital・ ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 46
Manufactured Capital・ ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 47
Section 6 Initiatives to Support

Value Creation

The TBS Group’s Take on Sustainability・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 48
Environmental Initiatives・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 50
Social Initiatives・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 52
Governance Initiatives・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 54
Corporate Officers・ ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 56
Overview of Corporate Governance System /Group Governance・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 58
Compliance・ ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 59
Risk Management・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 60
Dialogue Session Between Chairman andOutside Board Director・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 62
Section 7 Business Results andCompany Information

Analysis of Financial Position and Business Results (MD&A)・・・・ 64
Financial and Non-Financial Data for the Past 10 Years・ ・・・・・・・ 70
Company and Investor Information・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 72
TBS Group Integrated Report 2021

3

Chapter 1

Introduction

TBS over the last 12 months
From 2020 to 2021, we battled COVID-19 while at the same time making visionary reforms.
This has been a year of advancing efforts to become the “ideal TBS” — a year of profoundly re-acknowledging
our social mission of providing quality entertainment and serving as a trusted information lifeline for protecting
lives.

▶ April 2020

Innovating the design of the TBS brand logo
The TBS Group’s new logo, the use of which began in all TBS businessactivities in April 2020, expresses the Group’s aspirations, which lookahead to the future and are informed by 70 years of history.
The letters are in “TBS Blue” in a simple typescript consisting ofstraight lines and rounded edges, with the T and S slants that go up
and to the right.
The 66.6° slants symbolize our terrestrial broadcasting channel
number 6 and create 23.4° angles, which represent the Earth’s axial
tilt, which represents and signifies the TBS Group’s commitment toproviding content to the world.

COVID-19 measures▶ October• Change the company name from Tokyo Broadcasting
System Holdings, Inc. to TBS HOLDINGS, INC.
• Appointed a special executive officer to be in chargeof the Lifestyle BusinessAs soon as the COVID-19 outbreak happened, TBS needed
to take business continuity plan (BCP) measures in order tocontinue providing accurate information as a news organization. “Emergency teleworking” was implemented one
month prior to the declaration of a pandemic by the WHO(February 2020), and masks were continually distributed to
all TBS personnel. Previous efforts to foster a teleworking
environment as part of “T-Work,” a working style characteristic of TBS, along with stockpiling of masks in preparation
for a pandemic since before the COVID-19 outbreak, madea significant difference. We also implemented governancereforms that included setting a goal to increase the ratio of
female managers in April 2020 and changing the Board of Directors structure in June. Furthermore, in July we established*TBS ACT, INC.: Japan’s largest general production company, comprising 12 companies
in the TBS Group. Its three units—technology, art, and computer graphics—center on
TV programs broadcast by TBS.

February
▶2
月

•
a PCR
testing machine in• D社eployed
内に PCR
検査機を導入our offices

2021

May
▶5
月

•
Announced
TBS VISION2030
Group VISION 2030
• 「TBSグループ」・ andTBS Group Medium-Term Management「
TBSグループ
中期経営計画 2023 」・
Plan
2023

発表
• A
nnounced the goal of using 100%
renewable
for the Midoriyama Studio’s• 「緑山スタジオの使用電力を・
electricity needs in FY2021
2021年度に100％再エネ化 」発表▶ January• Changed the composition of theNomination and Compensation
Advisory Committee• Conducted TBS RADIO, Inc. “Challenge Zero CO2
Reduction Campaign”

Front entrance

the SDGs Planning and Strategy Department and conducted
the SDGs Campaign throughout the Group. To ensure that
we can provide quality entertainment to a society feeling besieged by COVID-19, we have deployed our own PCR testingmachine as a means to prevent performers from becoming
infected. In April 2021, operations commenced at TBS ACT,
INC.*, the result of Group restructuring, and we announced
the TBS Group VISION 2030 and TBS Group Medium-Term
Management Plan 2023 in May. While this a year where we
supported a society battling COVID-19, it was also a year of
instituting self-reform with a view to the future.

▶ JuneSanitizer in the sub
control room

• Changed Board of Directors structure (increased Outside Director count to 1/3 of total Board membership)• Appointed a director in charge of ESG

April
▶4
月

• Instituted the Group Executive Officer System andGroup Executive Committee▶ JulyThe sub control room is also
partitioned with acrylic panels“Week
to Make the Earth Smile”
第 2 弾を実施• Established the SDGs Planningand Strategy Department▶ March• T he WHO declared a
COVID-19 pandemic

2020•
ACT, INC., a company12
formedthrough the• T技BS術・美術関連の関係会社社を統合した
integration of 12 technology and art-related「 TBS アクト」が事業開始
companies, began operations• C
Sonducted
DGs キャンペーン
「 地球を笑顔にするWEEK」•
the second
SDGs Campaign▶ May▶ April• Emergency Teleworking Questionnaire results
Over 90% of personnel had been teleworking
since February• Set goal to achieve female manager ratio of
20%+ by the end of FY2024

November▶ 11月

April 2021 —Japan’s largest group of experts has arrived!

•
an SDGs
Campaign “Week to Make
the Earth• C
Sonducted
DGs キャンペーン
「 地球を笑顔にするWEEK」を・
Smile”
1 週間にわたり実施• Conducted an exclusive interview with Secretary-General of• theアントニオ・グテーレス国連事務総長の単独インタビューを実現
United Nations António Guterres• A
voice transcription
Mojiko• 
音I-powered
声認識 AI 文字起こしエディタ「editor
もじこ」
が・ received the IT
Award from the Japan Institute of Information Technology
企業情報化協会主催「 IT 賞 」を受賞

▶ February• Instituted emergency teleworking to deal
with COVID-19• Made sanitizer available in the office• Distributed masks to employees/staff

4

TBS Group Integrated Report 2021

TBS Group Integrated Report 2021

5

Chapter 1

Introduction

Message from the President
TBS Group’s social mission and purpose 

We delight in making people smile with“relaxing moments”
As we publish our Integrated Report, I have been thinking
about the purpose of the TBS Group once more.
We want to be a company that delights in making many
people smile. That’s our purpose as a member of the service
industry.
For example, people suffering from disasters feel at easeand smile a little when they watch our broadcasts. People
who come home tired from work smile refreshed after feeling emotional over a moving drama. Children watch TBS
programs and dream of becoming the athletes they see inthe future. We believe our purpose is to make as many people as possible smile with “relaxing moments” anytime.
In other words, we recognize that our work is not basedon “give and take,” but rather that giving, or serving, comes
first. Even in the event of a major disaster, we act based ona strong conviction to never stop broadcasting and we continue to do this for the benefit of the public. This is what weconstantly train to do.
We can also have an extensive influence through the airwaves. It’s good if it is only useful for people, but there is alsoa danger that it may have unexpected negative effects. For
the past 70 years, we have doing such the airwaves carefully
and correctly. Through this experience, we have inherited aspirit of “service” that makes us want to help people as partof our DNA. By protecting people from disasters and preserving peace, we protect the property and lives of the public.
We believe this is the social mission of the TBS Group.
Amid the flood of information from various media, wewill continue to provide accurate and fair information andprovide high-quality content. We believe our “credibility” isthe greatest value we offer.

Reforming the mindset of the TBS Group Transformation from a media group
to a content group“From each moment,a better tomorrow.”
Takashi Sasaki
President & Representative Director
TBS HOLDINGS, INC.
TOKYO BROADCASTING SYSTEM TELEVISION, INC.

6

TBS Group Integrated Report 2021

Transformation from a media group to acontent group
We have always valued an approach of “be the best rather
than the biggest broadcaster.” In the era when television stations were the most influential media, this phrase reminded
us to stay humble and not to be arrogant. However, now thattelevision broadcasting is being overtaken by the internet interms of advertising expenditure, we felt the need to rebuild
TBS into something new that is not an extension of the past.
Therefore, in April 2020, we formulated a new corporate philosophy and brand promise, and revamped the TBS
logo. In October 2020, we changed our corporate name from
Tokyo Broadcasting System Holdings, Inc. to TBS HOLDINGS,
INC. Removing the localized focus on Tokyo and the limitation to broadcasting in our corporate name sends a strong
message that we will go beyond Tokyo and broadcasting,making clear our commitment to not settling for a futurethat is broadcasting only.

“From each moment, a better tomorrow,” which is ourbrand promise, is our intention to define “content” as anything that moves people’s hearts, and to become a starting
point for influencing society. The management team formulated the new corporate philosophy after a year of discussion. Based on this philosophy, a project conducted by young
employees developed the brand promise. “From each moment, a better tomorrow,” the phrase they came up with,shows that we are a group of people who think producing
things is fun, and it conveys our passion for creating.
Unlike overseas media, Japanese television media ischaracterized by the fact that it both broadcasts and creates
content at the same time. However, from now on, we will
focus more on content creation, aiming to achieve worldclass standards. Moreover, our desire to “create relaxing moments” goes beyond content: we will also deliver outstanding moments that people can enjoy through means that
include events and education. TBS has always created highquality content, but by aiming even higher and transforming
ourselves from a media group to a content group, we willreach a global scale of business and establish a presence inoverseas markets as well.

Looking back on the previous
Medium-Term Management Plan Laying the foundations for transformation
through investment and group reorganization
Previously, in “TBS Group Medium-Term Management Plan
2020,” we set ourselves the goal of “Diversification andchallenge to total media through investment and group reorganization,” and invested around ¥50 billion in mediumto long-term growth, including video streaming, the digitalarea, intellectual training for children, and the next-generation redevelopment of Akasaka.
In terms of Group reorganization, we consolidated over
80 subsidiaries into mainly six core companies. Broadcasting-related subsidiaries have been combined into three companies: TOKYO BROADCASTING SYSTEM TELEVISION, INC.,
TBS RADIO, Inc., and BS-TBS, INC. Program production subsidiaries went into TBS SPARKLE, Inc. Program sales, digitalbusiness, and television shopping subsidiaries were put into
TBS GLOWDIA, Inc. Finally, subsidiaries with technology, art,and computer graphic functions were rolled into TBS ACT,
INC. Although each company is an independent corporation,
we will remove as many barriers as possible to build a systembuild a system of mutual cooperation and friendly rivalry toward a single goal. Although various expenses were incurred
as a result of the reorganization, we improved management
efficiency, and I believe we have developed a system that willallow us to continue producing high quality content over thelong term.
The effects of group reorganization are also being seen
in recruitment. In the past, because of the small size of eachcompany, recruiting efforts rarely succeeded. In one example, when recruiting new graduates for the merged com-

TBS Group Integrated Report 2021

7

Chapter 1

Introductionpany TBS SPARKLE, Inc., the number of applicants has beensteadily increasing each year, as the idea that they can do awide range of jobs at a core group company of TBS appears
to have become more widespread and understood among
students (the applicant-to-hire ratio in FY2020 was 35.1
times, and 38.5 times in FY2021 (estimate)).
We believe we have laid the foundations for creating
new content by bringing into existence a huge group of creators, bringing people together, and valuing creators in thisway.
The reorganization has also eliminated the complex
multi-layered structures that existed before, making it possible to assign a full-time auditor to each company and aperson in charge of business auditing and compliance, which
has strengthened the compliance and governance of theGroup as a whole.

TBS Group VISION 2030 

We will maximize the value of our content
through EDGE (Expand Digital, Global, andExperience)
The TBS Group Vision 2030, announced in May 2021, is avision of where we want to be in ten years’ time based on
our ability to create content and go beyond broadcasting toprovide the wonderful “moments” at all kinds of times andplaces. To achieve this ideal, we will innovate both in regard
to content creation and content “expansion.”
Under the EDGE* expansion strategy to “expand” ourcontent, we aim to dramatically increase the value we provide as well as our revenue as a company with an edge inthe three most important areas: digital area other thanbroadcasting, overseas markets, and experiences (real businesses that provide experiences such as live entertainment
and lifestyles).
In the digital area, we will work to spread our content
and strengthen platforms in streaming.
In the streaming business, we will focus on TVer, a commercial video streaming service, and Paravi, a subscription
video-on-demand service. TVer allows viewers to watch programs they missed during the original broadcast wheneverthey want before the next broadcast. This is essential forthe stable growth of terrestrial broadcasting as well as thegrowth of TVer in its own right, and we are looking to increase our profits in this area.
Paravi will specialize in dramas and variety programs,
which are TBS’s strengths, in contrast to the Netflix and Amazon Prime Video business model, which centers on buying
and selling original dramas and movies. This makes it a platform where TBS can demonstrate its superiority as it seeks tofurther develop its drama content to a global level.
As a further push into overseas markets, we will set
ourselves the challenge of creating drama content thatspecifically targets overseas viewers from the outset. In thepast, the drama Jin was a worldwide hit. The reason for its
popularity among overseas viewers was because the series

8

TBS Group Integrated Report 2021

raised issues with today’s medical system, which resonatedwith them, through the lens of the dawn of medical care in
the past, rather than because it was a historical drama. As in
this case, we believe that TBS has the strength of content tofind markets overseas. However, there are many competitors
in the overseas market, including the U.S. and Asian countries such as South Korea, and China, and targeting overseas
viewers means that we need to consider securing creators,
alliances with overseas companies, and M&As. This alsocomes with risks, but we believe that if TBS’s content is wellreceived overseas, our revenue will see dramatic growth.
Expanding “experiences” means not only in broadcasting, but also reaching every wonderful “moment” of consumers. Our two live entertainment venues TBS Akasaka ACTTheater and IHI Stage Around Tokyo will serve as platforms
for doing this. By leveraging our ability to produce theaterin addition to media, we will further increase the value weoffer as a B2C business.
With the Akasaka Entertainment City Plan, Akasaka willbe transformed into a city of live entertainment. This will
include TBS Akasaka ACT Theater serving as a dedicated theater for the stage production of Harry Potter and the CursedChild in 2022 as well as the completion of another theaterin 2028 to create a building that will house leased offices,
commercial facilities, and a hotel. By providing a wide variety of content for visitors to Akasaka through plays, events,
and broadcasts, we aim to remake Akasaka into a city thatreaches out and connects with people’s joy and happiness todeliver wonderful “moments.”
Additionally, we will also utilize the strength of ourcontent in intellectual training and educational fields, todevelop the potential of children who will lead the worldin the future. It is the field of emotional education rather
than studying for exams where we can take advantage ofour production techniques. By capitalizing on the powerof digital technology and incorporating entertainment, we
will continue to support the realization of a future full ofhope for children.
* EDGE is a synonym for Expand Digital Global Experience

TBS Group Medium-Term Management
Plan 2023 

We will sow the seeds for the realization of
TBS Group VISION 2030
We have positioned the three-year period of the TBS Medium-Term Management Plan 2023 as a period for focusing on
recovery from the COVID-19 pandemic and sowing seeds for
growth toward the realization of TBS Group VISION 2030.
Given the continued slump in spot commercial sales,
which were previously the mainstay of revenue, and thecurrent reluctance of consumers to spend money due to the
COVID-19 pandemic, there is a need to eliminate waste assoon as possible without being constrained by conventional notions. At the same time, we have to invest in priority
areas in order to accelerate our innovating of broadcastingand our growth strategies. For example, in order to promote
overseas business, we will make the necessary investments incollaboration with overseas companies and in creating content for overseas markets to fuel growth once the COVID-19
pandemic has ended.
Our “sowing seeds” will commence with the stage production of Harry Potter and the Cursed Child. Conventionally, the duration of a production at a venue is around threemonths. However, Harry Potter and the Cursed Child will be
the first TBS long-run production with no fixed end. This
marks a fundamental change in the way theaters run, as
they usually only operate for about six months of the year,
considering the period of preparation for the next show
once one show has ended. Therefore, we are trying to makea long-term plan, which includes the publicity that usually
goes along with a performance immediately before it. The
city of Akasaka will also be changing, with the constructionof a large stairway leading from Akasaka Station to the theater. Through these capital expenditures, we will increase
the number of fans and repeat customers over a long periodof time, including young children who will look forward togoing to see Harry Potter and the Cursed Child once they arein third grade, leading to the success of the show.
We aim to achieve operating profit of ¥18.5 billion in
the final year of the plan (FY2023). Achieving profit targets
while sowing seeds for growth is quite challenging. However, this target is based on our efforts to initiate momentum in the video streaming business, overseas expansion,
intellectual training and education, and other seed sowing
activities. Therefore, its significance should look different
from FY2018, when we earned significant profit throughspot commercial sales.

Sources of competitiveness 

We will revitalize our organization bycapitalizing on distinctive individuality todeliver excellent content to the world

ering excellent creators together, but TBS’s corporate culture,
which respects the distinctive individuality of its employees,
also contributes.
In the production of dramas, after the planning is donein the Programming Department, marketing and research is
conducted, and the title is worked out in meetings. I feelthat dramas produced through a majority consensus have astrong tendency to receive average ratings rather than becoming blockbusters. I believe the reason why blockbuster
dramas such as NAOKI HANZAWA and The Full-Time Wife
Escapist are produced is because we have a culture that respects individuality and accepts outstanding ideas.
NAOKI HANZAWA is a drama that was broadcast when
I was head of the TV Programming Division. When I was
first approached with the project, I was initially against it
because I thought it would be difficult to get high viewer
ratings for a drama with a business theme rather than a lovestory. However, I gave the go-ahead based on the talent andenthusiasm of the very capable director in charge of the drama, and as a result, it became a huge hit with viewer ratings approaching the 20% mark from the very first episode(the household ratings were 19.4% for the first episode and42.2% for the final episode).
What I realized at the time was that improving organizational skills is not the same as killing individuality, the sameas in rugby which I played in my student days. The important thing is not for everyone to think the same and act inaccordance with group discipline, but for each individual toposition his or her own role in the organization, to fulfill his
or her own role, and then to have a distinctive individuality.
I believe that maximizing the performance of each individual will revitalize and strengthen the entire organization.
In other words, it is the organization which can effectively
bring out the full potential of distinctive individuality thatwill win.

One of TBS’s greatest strengths is its ability to produce dramas comparable in quality to movies. This is a result of gath-

TBS Group Integrated Report 2021

9

Chapter 1

Introduction

Pick Up

A Starting Point for Influencing Society

Concept of sustainability at TBS 

We will continue to grow continuously
through “challenge and fairness” and“inheritance and creation”
As a company, we aspire to achieve high profitability andremain focused on winning. However, we must not win by
doing something unfair. This is because we can always startagain if we lose, but if our credibility is damaged, we will
not be able to do business anymore. For this reason, we always convey a message that tells our employees to challengethemselves but act fairly as a key value.
Recently, we also began to address the SDGs concept.
This is partly in response to the demands of society, but also
in order to change our own mindset. Up until now, we havebeen engaged in “consumption-oriented” business, where
we cut down trees to make money, but have not gone so
far as to plant trees. Therefore, by continuing to address theSDGs, we are trying to build human relationships and organizations by thinking about how important sustainability isin its own right and about sustainability as both a company and a society. First, in order to make the SDGs accessible to more people, we included all TBS Group members in
the “Week to Make the Earth Smile” campaign starting in
2020, and invited companies that agree with our objectives
to participate as “partners” in promoting the SDGs together.
So far, we have held the campaign twice, and it has alreadybeen effective in raising the awareness of viewers about theSDGs and serving a role as a “starting point for influencing
society.”“Inheritance and creation” is also an important concept
for the sustainability of the TBS Group. In the past, it wasoften the case that even when we had people who produced
excellent programs, their experience and skills would not bepassed on to the next generation. We believe this is not theway to go. We will continue to change our mindset, by giving ourselves a 7 out of 10 when being recognized as a fully
qualified editor or journalist, for example, and give ourselves
the remaining 3 points when we pass on our experience andknow-how to junior colleagues. If senior colleagues pass on

all they have learned to their junior colleagues who can inherit, create and further absorb it without measuring thepersonal gains, I believe we can become a strong company.
Furthermore, in order to enhance the corporate value ofthe entire TBS Group, we will continue to instill a sense ofgroup unity. This year, the six core companies held a joint
induction ceremony for the first time in our 70-year history.
This is an indication of the TBS Group’s commitment to working together as one to create content. We will work harderthan ever to improve management efficiency and strengthen group governance.

To our stakeholders 

We will continue to grow by creating,delivering, and sharing every wonderful“moment” in partnership with all of our
stakeholders
The TBS Group will continue to take on new challenges inorder to remain a strong company even in this era known as
the new normal. As a content group founded on responsible
broadcasting, we will provide wonderful “moments” in partnership with all of our stakeholders to contribute to the realization of a happy, sustainable, and prosperous society where
diverse values are respected. As the TBS Group continues to
evolve, expect great things from us.

Sustainable Development Goals(SDGs) Campaign“Week to Make the Earth Smile”

As one of the efforts connected with its brand promise, “becoming a starting point for influencing society,” the TBS
Group launched a globally unprecedented major SDGs campaign, “Week to Make the Earth Smile” in November 2020.
During the campaign, TOKYO BROADCASTING SYSTEM TELEVISION, INC., TBS RADIO, Inc., and BS-TBS, INC. together
broadcast more than 40 programs that dealt with various issues and Japanese and international efforts to achieve theSDGs. The campaign was recognized as a groundbreaking achievement, and received high marks its programming, including an unprecedented individual interview with United Nations Secretary-General António Guterres.
The second stage of the Campaign took place over ten days, including the Golden Week holidays, from April 26 to
May 5, 2021. Its theme was “Get Involved with the SDGs,” and it urged viewers to begin efforts that they could carryout on their own. The Campaign was wide-ranging, and one of the associated projects was an online event that gavechildren an enjoyable introduction to the SDGs. TBS plans to continue the Campaign until 2030, the year that the United Nations has designated for achieving the SDGs.
Video Research Limited surveyed members of the viewer for “Week to Make the Earth Smile” and found that people who had viewed or listened to the programs had a much greater awareness, understanding, interest, and concern
than non-viewers. Furthermore, people who had seen or heard both stages of the Campaign in succession were more
likely than others to be aware of the need for specific actions. These results clearly showed the effectiveness of continuing the Campaign, and it has indeed become “a starting point for influencing society.”

The SDGs: Awareness, Interest, Actions Taken,
and Intentions

Understanding of the SDGs

■Program viewers ■Non-viewers■Program viewers ■Non-viewers

Awareness ofthe details of the goals

39.4

Takashi Sasaki
President & Representative Director
TBS HOLDINGS, INC.
TOKYO BROADCASTING SYSTEM TELEVISION, INC.

TBS Group Integrated Report 2021

97.8

68.1

Interested andconcerned

85.6

20

40

“The year 2030 is the target
date for achieving them.”

80

100（%）

73.5

44.5

82.4

50.9

“The goals include details
that involve everyday life.”

89.1

60.6

“Companies and other organizations aretaking measures to achieve the goals.”

85.0

55.0

87.5

55.5
0

20

40

60

42.2

82.4

53.2

“We as individuals can takemeasures to achieve the goals.”

60

88.2

61.9

“National and local governments aretaking measures to achieve the goals.”

42.2

93.9

68.3

“Seventeen goals havebeen presented.”

85.9

41.9

Action taken toward
the SDGs or intention
to act“The goal is to leave the world
better than it was before.”“The world is joining forces withthe aim of achieving the goals.”

Terminology recognition

0

10

88.1

80

10.0

100（%）TBS Group Integrated Report 202111