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Nippon Television HoldingsNippon Television Holdings, Inc.9404東証プライム情報・通信業FY ending Mar 2026, consolidated, J-GAAP

Nippon Television Holdings revenue and profit

Out of every ¥100 of sales, about ¥14 is left as operating profit. Revenue changed +4.9% from the prior year, operating profit +26.2%.

Five-year trend

Revenue¥484.4B
FY ending Mar 2022: ¥406.4B¥406.4BFY ending Mar 2023: ¥414B¥414BFY ending Mar 2024: ¥423.5B¥423.5BFY ending Mar 2025: ¥461.9B¥461.9BFY ending Mar 2026: ¥484.4B¥484.4BFY22FY23FY24FY25FY26
Operating income¥69.3B
FY ending Mar 2022: ¥58.7B¥58.7BFY ending Mar 2023: ¥46.6B¥46.6BFY ending Mar 2024: ¥41.9B¥41.9BFY ending Mar 2025: ¥54.9B¥54.9BFY ending Mar 2026: ¥69.3B¥69.3BFY22FY23FY24FY25FY26
Operating margin14.3%
FY ending Mar 2022: 14.4%14.4%FY ending Mar 2023: 11.3%11.3%FY ending Mar 2024: 9.9%9.9%FY ending Mar 2025: 11.9%11.9%FY ending Mar 2026: 14.3%14.3%FY22FY23FY24FY25FY26

What drives ROE

Net margin × asset turnover = ROA; ROA × financial leverage = ROE

Net margin11.7%
Asset turnover0.39×
ROA4.5%
ROA4.5%
Financial leverage1.54×
ROE6.9%

Denominators: average assets and average equity. Derived from reported values; ROE is shown only for positive profit and equity.

Net margin11.7%
2022: 11.7%11.7%2023: 8.2%8.2%2024: 8.2%8.2%2025: 10.0%10.0%2026: 11.7%11.7%2223242526
Asset turnover0.39×
2022: 0.38×0.38×2023: 0.39×0.39×2024: 0.38×0.38×2025: 0.38×0.38×2026: 0.39×0.39×2223242526
ROA4.5%
2022: 4.5%4.5%2023: 3.3%3.3%2024: 3.1%3.1%2025: 3.8%3.8%2026: 4.5%4.5%2223242526
Financial leverage1.54×
2022: 1.46×1.46×2023: 1.42×1.42×2024: 1.46×1.46×2025: 1.54×1.54×2026: 1.54×1.54×2223242526
ROE6.9%
2022: 6.5%6.5%2023: 4.6%4.6%2024: 4.6%4.6%2025: 5.9%5.9%2026: 6.9%6.9%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
202211.7%0.38×4.5%1.46×6.5%
20238.2%0.39×3.3%1.42×4.6%
20248.2%0.38×3.1%1.46×4.6%
202510.0%0.38×3.8%1.54×5.9%
202611.7%0.39×4.5%1.54×6.9%

Financial leverage can raise ROE; a higher value alone does not describe a company's overall condition.

Asset intensity and goodwill

Annual trends in tangible-asset ratios and goodwill balance.

PPE ÷ revenue52.5%
2021: 68.5%68.5%2022: 63.9%63.9%2023: 62.1%62.1%2024: 60.5%60.5%2025: 54.9%54.9%2026: 52.5%52.5%212223242526
PPE ÷ total assets19.8%
2021: 26.0%26.0%2022: 24.5%24.5%2023: 24.8%24.8%2024: 21.7%21.7%2025: 20.6%20.6%2026: 19.8%19.8%212223242526
Goodwill ÷ parent equity1.1%
2021: 0.1%0.1%2022: 1.8%1.8%2023: 1.6%1.6%2024: 1.4%1.4%2025: 1.2%1.2%2026: 1.1%1.1%212223242526
Goodwill balance¥9.03B
2021: ¥546M¥546M2022: ¥12.9B¥12.9B2023: ¥11.9B¥11.9B2024: ¥10.8B¥10.8B2025: ¥9.86B¥9.86B2026: ¥9.03B¥9.03B212223242526

Ratios are derived from reported values. Goodwill is shown only when separately reported; it is not inferred from combined intangible assets. Definition

Investment and working-capital efficiency

Track R&D investment and how long operating capital remains tied up before sales turn into cash.

Cash conversion cycle—
2021: 90d90d212223242526
Receivable days—
2021: 97d97d212223242526
Inventory days7d
2021: 5d5d2022: 5d5d2023: 4d4d2024: 6d6d2025: 6d6d2026: 7d7d212223242526
Payable days—
2021: 11d11d2022: 15d15d2023: 17d17d2024: 19d19d212223242526

R&D is shown only for years with machine-readable disclosure. Days are estimates using year-end receivables, inventory and payables divided by annual revenue or cost of sales; financial companies are excluded.

Income statement (JPY millions)

ItemFY ending Mar 2022FY ending Mar 2023FY ending Mar 2024FY ending Mar 2025FY ending Mar 2026
Revenue406,395413,979423,523461,915484,418
Cost of revenue253,541271,785281,582298,945303,527
Gross profit152,854142,193141,941162,970180,891
SG&A94,17295,600100,063108,053111,558
Operating income58,68246,59341,87754,91769,332
Pretax income68,81849,08251,72069,09187,002
Income tax21,29214,48616,26621,66325,251
Net income attributable to owners47,43134,08134,66046,00056,767
Operating margin14.4%11.3%9.9%11.9%14.3%

Balance sheet (reported items)

Year-end figures from filings. Unreported items are omitted. Interest-bearing debt excludes lease liabilities.

Assets

Cash 10%
0%
Property, plant and equipment 20%
3%
Investment securities 46%
Other assets 21%

Funding

Other liabilities 20%
Equity 80%

Each bar totals 100% of assets; other is the residual.

ItemFY ending Mar 2022FY ending Mar 2023FY ending Mar 2024FY ending Mar 2025FY ending Mar 2026
Cash and equivalents¥62.4B¥74.9B¥112.5B¥118.2B¥129.6B
Total assets¥1.06T¥1.04T¥1.18T¥1.23T¥1.28T
Net assets¥850.8B¥843.6B¥947.3B¥991B¥1.03T
Share capital¥18.6B¥18.6B¥18.6B¥18.6B¥18.6B
Inventories¥3.36B¥2.67B¥4.41B¥5.16B¥5.69B
Property, plant and equipment¥259.7B¥257B¥256.4B¥253.5B¥254.4B
Intangible assets excluding goodwill¥29.3B¥26.7B¥32.1B¥29B¥28.1B
Goodwill¥12.9B¥11.9B¥10.8B¥9.86B¥9.03B
Investment securities¥464.2B¥479.6B¥540.9B¥567.7B¥591.4B
Current assets¥275.8B¥237.3B¥316.2B¥351.8B¥379.5B
Current liabilities¥107.8B¥105.5B¥118.3B¥118.6B¥129.2B
Trade payables¥10.5B¥13B¥15B——
Short-term borrowings¥2.58B¥3.08B¥3.04B¥2.4B¥3.75B
Long-term borrowings——¥2.59B¥1.42B—
Total liabilities¥210.7B¥191.9B¥236B¥241.1B¥251.5B
Non-controlling interests¥6.08B¥6.83B¥28.7B¥31.3B¥36.1B
Equity attributable to owners of parent¥726.9B¥751.9B¥771.1B¥801.4B¥834.1B
Retained earnings¥681.6B¥706.4B¥731.2B¥766.5B¥805.6B
Treasury stock-¥9.1B-¥9.1B-¥14.7B-¥19B-¥25.3B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第93期(2025/04/01－2026/03/31)

    ID S100Y9BG2026-06-23Open

  • EDINET (FSA Japan)

    有価証券報告書－第92期(2024/04/01－2025/03/31)

    ID S100VZ6F2025-06-26Open

  • EDINET (FSA Japan)

    有価証券報告書－第91期(2023/04/01－2024/03/31)

    ID S100TN0Y2024-06-28Open

  • EDINET (FSA Japan)

    有価証券報告書－第90期(2022/04/01－2023/03/31)

    ID S100R5V42023-06-30Open

  • EDINET (FSA Japan)

    有価証券報告書－第89期(令和3年4月1日－令和4年3月31日)

    ID S100OG712022-06-30Open

  • EDINET (FSA Japan)

    有価証券報告書－第88期(令和2年4月1日－令和3年3月31日)

    ID S100LTQ52021-06-30Open

Extracted from XBRL: 53 / Derived from other figures: 1

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