Fuji Media Expects Smaller Operating Loss

Tokyo, Nov. 10 (Jiji Press)–Japan’s Fuji Media Holdings Inc. said Monday that it now expects its operating loss for the year ending next March to be 10.5 billion yen, compared with its previous loss estimate of 12 billion yen. The parent company of Fuji Television Network Inc. anticipates a stronger-than-expected recovery in advertising revenue at its broadcasting operations, following a decline linked to a sexual misconduct scandal involving former TV personality Masahiro Nakai. Fuji Media also raised its net profit forecast to 18.5 billion yen from 16.5 billion yen, marking a turnaround from a loss of 20.1 billion yen in the previous year. In April-September, the company’s consolidated revenue dropped 7.2 pct from a year earlier to 248.6 billion yen, mainly due to a decline in ad revenue. It posted an operating loss of 12.9 billion yen, compared with an operating profit of 13.8 billion yen. Net profit rose 35.8 pct to 17.1 billion yen, however, thanks to a special gain of 50 billion yen, mainly from the sale of stock holdings. Fuji Television Network’s sales nearly halved to 60.6 billion yen. It recorded an operating loss of 32.7 billion yen, compared with a profit of 500 million yen. Its net loss was 30.1 billion yen, against a net profit of 400 million yen. Ad revenue plunged about 70 pct to 19 billion yen. Nevertheless, the number of sponsors is recovering, prompting the company to revise its full-year ad revenue forecast upward by 1 billion yen to 78.5 billion yen. END [Copyright The Jiji Press, Ltd.]