Tokyo, May 12, 2026, 19:10 JST
Fuji Media Holdings reported an operating loss of 8.77 billion yen for the year ended March 2026, swinging from an 18.29 billion yen profit the previous year. The company blamed the downturn on the lingering impact of a sexual misconduct scandal that dented its mainstay TV ad revenues. Net sales came in at 551.87 billion yen, up just 0.2%. Net income landed at 6.50 billion yen, marking a recovery from last year’s 20.13 billion yen loss.
The company’s full-year loss delivers more than just a blow to its image—it’s now showing up in the numbers. Jiji said Fuji Media just posted its first annual operating loss since 2008, the year it adopted a certified broadcast holding-company structure, a regulatory framework standard among Japanese broadcasters.
The company wants investors to focus beyond the current low point. For fiscal 2027, it’s projecting revenue at 625.7 billion yen, operating profit of 40.1 billion yen, and net income of 26.1 billion yen. The annual dividend is set to rise by 75 yen, reaching 200 yen per share.
Fuji Television President Kenji Shimizu said the loss stemmed from “special factors” within the TV unit, noting the first-half shortfall was simply too big for a comeback later in the year. “Broadcast revenue is steadily recovering,” he was quoted as saying by Daily Sports. Daily
Media took the brunt of the hit. Fuji Television’s broadcast and media revenue slid 27.4% to 117.08 billion yen. Network time sales, the regular ad spots for national shows, dropped 36.5%. Spot sales, those shorter-term ad slots outside the main blocks, were down 27.8%. Streaming ad revenue—via services like TVer—plunged 38.0%.
Shimizu seized the moment to revive talk of reform. Laying out Fuji Television’s updated corporate philosophy, he acknowledged the company had “lost the trust” of stakeholders and stressed that Fuji Television “must be reborn from the ground up.” Tnc
Former TV personality Masahiro Nakai was at the center of the scandal. Last year, Reuters said an independent panel hired by Fuji Media uncovered a case of “sexual violence” tied to job responsibilities, criticizing the company’s failure to properly support victims or offer compensation. Fallout included advertisers fleeing and resignations within upper management. Reuters
Elsewhere in the group, gains in urban development and tourism helped offset losses. Revenue climbed 37.2% to 193.50 billion yen, thanks in part to brisk property sales, steady demand for condos, Kobe Suma Sea World, and stronger hotel bookings from inbound travelers. Segment profit edged up 2.8%, reaching 25.19 billion yen.
The threat from rivals is obvious. Fuji goes head-to-head for ad spend and viewers with Nippon TV, TV Asahi, and TBS—each a player in Tokyo’s commercial TV landscape and a contributor to TVer, the joint ad-based streaming site. If sponsors keep shifting budgets elsewhere, Fuji’s rebound risks slipping straight to those competitors.
Investors didn’t get a clear read. IFIS Japan flagged that Fuji booked an ordinary loss of 2.81 billion yen for fiscal 2026, missing the 1.55 billion yen profit analysts had penciled in. Yet for fiscal 2027, Fuji’s projected 38.3 billion yen ordinary profit tops consensus by 15.5%.
Fuji Media stock slipped 2.6% to finish at 3,861 yen in Tokyo, with the clock just hitting 15:30 as results landed after the bell. With the numbers out post-close, investors hardly had a shot to react to the revised profit outlook and dividend details.
Still, the rebound story looks delicate. The company’s outlook hangs on TV ad and content growth bouncing back, but there are plenty of caveats: energy costs, raw materials, the yen, U.S. trade policy, and China’s economic health could all put pressure on Japan. The forecast also leaves out any outside funding for its urban development and tourism arm, as details around method and timing haven’t been nailed down.
