Interim report
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Company name : Summary of Consolidated Financial Results for the Three Months Ended June 30 , 2026 ( Based on Japanese GAAP ) TBS HOLDINGS , INC . URL : https://www.tbsholdings.co.jp Ryujiro Abe Naganori Nishikawa Listing : Securities code : Tokyo Stock Exchange 9401 Representative : President & Chief Executive Officer Inquiries : President of Accounting Service Division Scheduled date to commence dividend payments : Preparation of supplementary material on financial results : Holding of financial results briefing : Yes None August 6 , 2026 TEL : + 81-3-3746-1111 ( Yen amounts are rounded down to millions , unless otherwise noted . ) Operating profit 1 . Consolidated financial results for the three months ended June 30 , 2026 ( from April 1 , 2026 to June 30 , 2026 ) ( 1 ) Consolidated operating results ( cumulative ) ( Percentages indicate year - on - year changes . ) Net sales Ordinary profit Profit attributable to owners of parent Millions of yen % Millions of yen % Millions of yen % Millions of yen % Three months ended 105,419 4.8 4,622 ( 43.0 ) 12,810 ( 19.0 ) 14,490 ( 18.2 ) June 30 , 2026 Three months ended 100,633 2.1 8,113 31.3 June 30 , 2025 Note : Comprehensive income For the three months ended June 30 , 2026 : For the three months ended June 30 , 2025 : Three months ended June 30 , 2026 Three months ended Earnings per share Yen June 30 , 2025 ( 2 ) Consolidated financial position As of June 30 , 2026 As of March 31 , 2026 Reference : Equity As of June 30 , 2026 : As of March 31 , 2026 : 2 . Cash dividends Total assets 92.66 110.76 15,819 29.1 17,704 23.1 ¥ 504,461 million ¥ 118,294 million [ 326.4 % ] [ - % ] Diluted earnings per share Yen Millions of yen 2,323,327 1,628,220 ¥ 1,607,460 million ¥ 1,127,718 million Net assets Equity - to - asset ratio Millions of yen % 1,615,713 1,135,390 69.2 69.3 Annual dividends per share First quarter - end Second quarter - end Third quarter - end Fiscal year - end Total Yen Yen Yen Yen Yen 49.00 84.00 35.00 Fiscal year ended March 31 , 2026 Fiscal year ending March 31 , 2027 Fiscal year ending March 31 , 2027 ( Forecast ) Note : Revisions to the forecast of cash dividends most recently announced : None 50.00 50.00 100.00 Note : This document has been translated from a part of the Japanese original for reference purposes only . In the event of any discrepancy between this translated document and the Japanese original , the original shall prevail . 1
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2 3. Forecast of consolidated financial results for the fiscal year ending March 31, 2027 (from April 1, 2026 to March 31, 2027) (Percentages indicate year-on-year changes.) Net sales Operating profit Ordinary profit Profit attributable to owners of parent Earnings per share Millions of yen % Millions of yen % Millions of yen % Millions of yen % Yen Fiscal year ending March 31, 2027 435,000 2.4 23,000 (7.1) 38,000 1.7 48,500 (7.1) 316.21 Note: Revisions to the earnings forecasts most recently announced: Yes * Notes (1) Significant changes in the scope of consolidation during the period: Yes Newly included: 2 companies (SAND B, Inc., K contents Inc.) (2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: None (3) Changes in accounting policies, changes in accounting estimates, and restatement (i) Changes in accounting policies due to revisions to accounting standards and other regulations: None (ii) Changes in accounting policies due to other reasons: None (iii) Changes in accounting estimates: None (iv) Restatement: None (4) Number of issued shares (common shares) (i) Total number of issued shares at the end of the period (including treasury shares) As of June 30, 2026 161,091,065 shares As of March 31, 2026 165,591,065 shares (ii) Number of treasury shares at the end of the period As of June 30, 2026 7,024,476 shares As of March 31, 2026 8,792,933 shares (iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year) Three months ended June 30, 2026 156,377,461 shares Three months ended June 30, 2025 159,849,427 shares Note: The number of treasury shares at the end of the fiscal year includes the shares of TBS HOLDINGS, INC. (the “Company”) owned by the ESOP Trust for the granting of shares (3,311,912 shares in the first quarter of the fiscal year ending March 31, 2027 and 3,323,644 shares in the fiscal year ended March 31, 2026) and Company's shares owned by the Equity Grant Trust for Officers (403,662 shares in the first quarter of the fiscal year ending March 31, 2027 and 403,662 shares in the fiscal year ended March 31, 2026). In addition, treasury shares deducted in the calculation of the average number of shares during the period includes the Company's shares owned by the ESOP Trust for granting of shares (3,320,147 shares in the first quarter of the fiscal year ending March 31, 2027 and 3,390,229 shares in the first quarter of the fiscal year ended March 31, 2026) and the Company's shares owned by the Equity Grant Trust for Officers (403,662 shares in the first quarter of the fiscal year ending March 31, 2027 and 268,336 shares in the first quarter of the fiscal year ended March 31, 2026). * Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm:Yes (optional) * Proper use of earnings forecasts, and other special matters The forward-looking statements, including forecasts of financial results, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. However, the Company makes no guarantee that these forecasts will be achieved. Actual financial results, etc. may differ substantially due to various factors.
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3 4. Explanation regarding forward-looking statements such as forecast of consolidated financial results Regarding the consolidated earnings forecast for the fiscal year ending March 31, 2027, the Company anticipates that spot advertising sales at TBS TELEVISION, INC. are expected to remain below the previously announced forecast, due to the growing uncertainty in the global economic outlook including heightened tensions in the Middle East. Consequently, consolidated net sales, operating profit, and ordinary profit are expected to be lower than the previous forecast. Considering this circumstance, the Company hereby revises its consolidated earnings forecasts announced on May 14, 2026, in the "Consolidated Financial Results for the Fiscal Year Ended March 31, 2026 (Based on Japanese GAAP)" as follows. Please note that the forecast for profit attributable to owners of parent remains unchanged, as it factors in the net impact of extraordinary gains and losses. Revision to consolidated financial results forecast for the fiscal year ending March 31, 2027 (from April 1, 2026 to March 31, 2027) Net sales Operating profit Ordinary profit Profit attributable to owners of parent Earnings per share Previous Forecast (A) (Announced on May 14, 2026) Millions of yen 440,000 Millions of yen 26,000 Millions of yen 39,000 Millions of yen 48,500 Yen 308.86 Revised Forecast (B) 435,000 23,000 38,000 48,500 316.21 Change (B-A) (5,000) (3,000) (1,000) - - Rate of Change (%) (1.1) (11.5) (2.6) - - Actual Results of the Previous Year (Fiscal year ended March 31, 2026) 424,850 24,750 37,373 52,228 331.42
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4 Quarterly consolidated balance sheet (Millions of yen) As of March 31, 2026 As of June 30, 2026 Assets Current assets Cash and deposits 124,230 82,851 Notes and accounts receivable - trade, and contract assets 83,472 81,474 Merchandise and finished goods 11,756 11,883 Programs and work in progress 15,714 16,040 Raw materials and supplies 1,064 977 Prepaid expenses 24,115 25,103 Other 10,043 7,366 Allowance for doubtful accounts (210) (170) Total current assets 270,188 225,526 Non-current assets Property, plant and equipment Buildings and structures 229,236 230,977 Accumulated depreciation (146,119) (147,302) Buildings and structures, net 83,117 83,674 Machinery, equipment and vehicles 73,675 74,951 Accumulated depreciation (67,289) (67,560) Machinery, equipment and vehicles, net 6,385 7,390 Tools, furniture and fixtures 21,171 21,573 Accumulated depreciation (17,611) (17,666) Tools, furniture and fixtures, net 3,560 3,906 Land 172,936 172,937 Leased assets 1,407 1,417 Accumulated depreciation (1,235) (1,247) Leased assets, net 171 169 Construction in progress 12,948 16,081 Total property, plant and equipment 279,120 284,159 Intangible assets Software 7,466 7,396 Goodwill 20,991 20,991 Other 20,425 21,187 Total intangible assets 48,883 49,575 Investments and other assets Investment securities 1,016,285 1,750,531 Long-term loans receivable 14 10 Deferred tax assets 1,567 1,177 Long-term prepaid expenses 309 320 Other 11,960 12,122 Allowance for doubtful accounts (109) (95) Total investments and other assets 1,030,028 1,764,065 Total non-current assets 1,358,032 2,097,800 Total assets 1,628,220 2,323,327
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5 (Millions of yen) As of March 31, 2026 As of June 30, 2026 Liabilities Current liabilities Notes and accounts payable - trade 50,534 47,318 Current portion of long-term borrowings 1,810 3,789 Accounts payable - other 20,419 12,266 Income taxes payable 14,999 4,893 Accrued consumption taxes 1,953 2,574 Accrued expenses 2,043 1,936 Provision for bonuses 4,335 1,654 Provision for bonuses for directors (and other officers) 12 15 Other 15,108 20,556 Total current liabilities 111,216 95,004 Non-current liabilities Long-term borrowings 71,852 75,333 Retirement benefit liability 13,894 13,853 Provision for share awards 4,273 4,348 Lease liabilities 443 437 Deferred tax liabilities 272,172 499,485 Other 18,978 19,150 Total non-current liabilities 381,613 612,609 Total liabilities 492,830 707,614 Net assets Shareholders' equity Share capital 54,986 54,986 Capital surplus 12,210 - Retained earnings 492,284 490,467 Treasury shares (30,843) (27,094) Total shareholders' equity 528,639 518,360 Accumulated other comprehensive income Valuation difference on available-for-sale securities 597,715 1,087,109 Deferred gains or losses on hedges 27 40 Foreign currency translation adjustment 370 997 Remeasurements of defined benefit plans 964 954 Total accumulated other comprehensive income 599,079 1,089,100 Non-controlling interests 7,672 8,252 Total net assets 1,135,390 1,615,713 Total liabilities and net assets 1,628,220 2,323,327
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6 Quarterly consolidated statement of income (Millions of yen) Three months ended June 30, 2025 Three months ended June 30, 2026 Net sales 100,633 105,419 Cost of sales 65,652 73,126 Gross profit 34,980 32,293 Selling, general and administrative expenses 26,867 27,671 Operating profit 8,113 4,622 Non-operating income Interest income 3 93 Dividend income 7,554 8,462 Share of profit of entities accounted for using equity method 320 226 Other 319 291 Total non-operating income 8,197 9,074 Non-operating expenses Interest expenses 41 358 Loss on investments in investment partnerships 205 103 Non-deductible consumption tax 91 70 Loss on retirement of non-current assets 6 60 Other 147 292 Total non-operating expenses 491 886 Ordinary profit 15,819 12,810 Extraordinary income Gain on sale of investment securities 10,379 11,189 Total extraordinary income 10,379 11,189 Extraordinary losses Loss on valuation of investment securities - 953 Loss on sale of shares of subsidiaries and associates - 567 Removal expenses of non-current assets - 152 Loss on sale of investment securities - 111 Impairment losses - 13 Total extraordinary losses - 1,797 Profit before income taxes 26,198 22,202 Income taxes - current 6,012 5,818 Income taxes - deferred 2,384 1,944 Total income taxes 8,396 7,762 Profit 17,802 14,439 Profit (loss) attributable to non-controlling interests 97 (50) Profit attributable to owners of parent 17,704 14,490
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7 Quarterly consolidated statement of comprehensive income (Millions of yen) Three months ended June 30, 2025 Three months ended June 30, 2026 Profit 17,802 14,439 Other comprehensive income Valuation difference on available-for-sale securities 100,683 489,426 Deferred gains or losses on hedges (19) 17 Foreign currency translation adjustment (123) 626 Remeasurements of defined benefit plans, net of tax (85) (10) Share of other comprehensive income of entities accounted for using equity method 37 (38) Total other comprehensive income 100,492 490,021 Comprehensive income 118,294 504,461 Comprehensive income attributable to Comprehensive income attributable to owners of parent 118,195 504,511 Comprehensive income attributable to non-controlling interests 99 (50)