ASAHI BROADCASTING GROUP HOLDINGS CORPORATION

朝日放送グループホールディングス株式会社

Information & Communication

Asahi Broadcasting Group Holdings Corporation engages in the television and radio broadcasting activities in Japan and internationally. The company operates in two segments, Broadcasting and Content, and Lifestyle. The company engages in the television and radio broadcasting, as well as activities related to various content, etc. It is also involved in the operation of housing exhibition site, at-home shopping, golf club operating activities, etc. The company was formerly known as Asahi Broadcasting Corporation and changed its name to Asahi Broadcasting Group Holdings Corporation in April 2018. Asahi Broadcasting Group Holdings Corporation was incorporated in 1951 and is headquartered in Osaka, Japan.

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Price

¥829

Market Cap

¥34.6B

Ent. Value

¥26.4B

Net Cash

¥8.2B

Shares Out.

41.7M

P / E

7.8×

EV / EBIT

5.5×

⚠ TSE Capital Mandate

P / Book

0.42×

P / NCAV

5.37×

Div. Yield

0.97%

Financials

Metric	FY 2025 TDnet	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Net Sales	¥96.0B	¥91.9B	¥90.5B	¥87.0B	¥85.1B
Cost of Sales	¥63.5B	¥61.8B	¥62.9B	¥58.1B	¥55.6B
Gross Profit	¥32.5B	¥30.2B	¥27.5B	¥29.0B	¥29.5B
SG&A	¥27.8B	¥27.6B	¥26.7B	¥26.4B	¥25.3B
Operating Income	¥4.8B	¥2.6B	¥832M	¥2.6B	¥4.2B
Non-Operating Income	¥478M	¥464M	¥457M	¥720M	¥797M
Non-Operating Expenses	—	¥549M	¥566M	¥653M	¥207M
Interest Expense	—	¥87M	¥40M	¥32M	¥30M
Ordinary Income	¥4.4B	¥2.5B	¥723M	¥2.7B	¥4.8B
Pre-tax Income	¥7.2B	¥3.5B	¥-400M	¥1.9B	¥4.6B
Income Taxes	¥2.7B	¥1.1B	¥700M	¥926M	¥2.1B
Current Tax	—	¥460M	¥627M	¥787M	¥1.8B
Deferred Tax	—	¥615M	¥73M	¥138M	¥274M
Net Income (owners)	¥4.5B	¥2.5B	¥-884M	¥1.4B	¥2.7B
Minority Interest	—	¥-52M	¥-216M	¥-341M	¥-185M
Comprehensive Income	—	¥4.0B	¥4.2B	¥3.1B	¥981M
EBITDA	¥8.3B	¥6.2B	¥4.6B	¥6.4B	¥7.6B
Goodwill Amort. (J-GAAP)	—	¥113M	¥130M	¥114M	¥127M
EPS	¥106.69	¥59.95	¥-21.19	¥32.42	¥64.97
Shares Outstanding	—	41.7M	41.8M	41.7M	41.7M
Shares Issued (total)	—	41.8M	41.8M	41.8M	41.8M
Treasury Shares	—	0.1M	0.1M	0.1M	0.1M

Metric	FY 2025 TDnet	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Total Assets	¥134.5B	¥128.5B	¥123.2B	¥122.3B	¥123.8B
Current Assets	¥56.7B	¥49.5B	¥45.4B	¥46.4B	¥49.7B
Cash & Deposits	¥22.0B	¥21.9B	¥24.4B	¥22.3B	¥23.6B
Trade Receivables	—	¥16.0B	¥14.1B	¥15.9B	¥15.5B
Inventories	—	¥220M	¥164M	¥209M	¥171M
Non-Current Assets	¥77.8B	¥79.0B	¥77.8B	¥75.9B	¥74.0B
PP&E	¥40.9B	¥43.4B	¥41.8B	¥41.2B	¥41.5B
Goodwill	—	¥618M	¥532M	¥955M	¥986M
Intangible Assets	—	¥2.1B	¥2.3B	¥3.2B	¥3.5B
Investment Securities	¥18.1B	¥17.4B	¥19.3B	¥17.9B	¥16.9B
Deferred Tax Assets	—	¥2.4B	¥3.6B	¥5.6B	¥7.4B
Total Liabilities	¥50.3B	¥50.3B	¥47.1B	¥49.9B	¥53.3B
Current Liabilities	¥23.4B	¥20.5B	¥22.7B	¥19.6B	¥18.5B
ST Debt	¥1.9B	¥561M	¥656M	¥539M	¥563M
Taxes Payable	—	¥292M	¥356M	¥180M	¥1.3B
Non-Current Liabilities	¥26.9B	¥29.8B	¥24.4B	¥30.3B	¥34.8B
Total LT Borrowings	¥11.9B	¥14.7B	¥8.4B	¥11.6B	¥11.9B
Pension Obligations	—	¥6.1B	¥6.8B	¥9.3B	¥13.2B
Deferred Tax Liab.	—	¥180M	¥290M	¥389M	¥1.0B
Total Equity	¥84.3B	¥78.2B	¥76.2B	¥72.4B	¥70.5B
Capital Stock	—	¥5.3B	¥5.3B	¥5.3B	¥5.3B
Capital Surplus	—	¥6.0B	¥6.0B	¥6.0B	¥6.0B
Retained Earnings	¥59.9B	¥55.8B	¥53.8B	¥55.1B	¥54.9B
Treasury Stock	—	¥-57M	¥-36M	¥-62M	¥-50M
AOCI	—	¥9.5B	¥8.0B	¥2.9B	¥818M
Equity (owners)	¥71.2B	¥67.0B	¥65.0B	¥66.4B	¥66.2B
Minority Interests	—	¥1.7B	¥3.1B	¥3.2B	¥3.5B

Total Interest-Bearing Debt ⓘ	¥13.8B	¥15.2B	¥9.1B	¥12.1B	¥12.4B
Net Cash ⓘ	¥8.2B	¥6.7B	¥15.3B	¥10.1B	¥11.2B
NCAV ⓘ	¥6.4B	¥-786M	¥-1.7B	¥-3.5B	¥-3.5B
NCAV/Share	—	¥-19	¥-40	¥-83	¥-85
BV/Share	—	¥1,606	¥1,557	¥1,591	¥1,585

Metric	FY 2025 TDnet	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Operating CF	¥7.8B	¥5.3B	¥5.7B	¥3.0B	¥4.7B
Taxes Paid	—	¥-407M	¥36M	—	—
Interest Paid	—	¥-77M	¥-36M	¥-32M	¥-31M
Interest Received	—	¥339M	¥272M	¥270M	¥195M
D&A	¥3.6B	¥3.5B	¥3.6B	¥3.7B	¥3.2B
Goodwill Amort.	—	¥113M	¥130M	¥114M	¥127M
Investing CF	¥-2.4B	¥-3.8B	¥-5.7B	¥-5.0B	¥-4.3B
CapEx	¥2.5B	¥4.6B	¥3.5B	¥4.0B	¥3.7B
Purchase Investments	—	¥-42M	¥-161M	¥-1.6B	¥-752M
Proceeds from Invest.	—	¥1.7B	¥300M	—	¥299M
Financing CF	¥-2.0B	¥275M	¥1.1B	¥-1.6B	¥543M
Dividends Paid	—	¥-501M	¥-501M	¥-1.1B	¥-492M
Share Buybacks	—	¥-66M	¥0M	¥-47M	—
LT Debt Repaid	—	¥-616M	¥-587M	¥-489M	¥-620M
Free Cash Flow	¥5.3B	¥732M	¥2.2B	¥-1.0B	¥963M
Net Change in Cash	—	¥1.8B	¥1.1B	¥-3.7B	¥956M

Metric	FY 2025 TDnet	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
ROE	5.5%	3.3%	-1.2%	2.0%	4.0%
ROA	3.4%	2.0%	-0.7%	1.1%	2.2%
EPS	¥106.69	¥59.95	¥-21.19	¥32.42	¥64.97
DPS	¥8.00	¥13.00	¥12.00	¥16.00	¥24.00
BPS	¥1,976.68	¥1,834.61	¥1,748.02	¥1,659.63	¥1,604.91
FCF/Share	—	¥18	¥52	¥-25	¥23
NCAV/Share	—	¥-19	¥-40	¥-83	¥-85
Payout Ratio	7.5%	21.7%	—	49.4%	36.9%

Capital Allocation Signals 1

Date	Type	Amount	Summary
2026-05-21 15:30	Buyback	¥1.0B ¥800.0/sh 3.0%	Asahi Broadcasting Group Holdings resolved on 21 May 2026 to repurchase up to 1.25 million ordinary shares (2.99% of out…
Summary Asahi Broadcasting Group Holdings resolved on 21 May 2026 to repurchase up to 1.25 million ordinary shares (2.99% of outstanding) for a maximum aggregate consideration of JPY 1.0 billion through 31 March 2027. The buyback aims to improve capital efficiency and enhance shareholder returns as part of the mid-term business plan 2026-2028, which targets raising the dividend payout ratio from 30% to 40%. Deadline: 2027-03-31 % of Shares: 3.0% Shares: 1,250,000 Source (JP) 本中期経営計画期間においては、株主還元の強化として配当性向を 2025 年度までの従来の 30%から 40%への引上げを目指すともに、自己株式取得についても資本構成や株式市場の状況等を踏まえ、機動的に実施する方針を掲げております。自己株式取得に係る事項の決定に関するお知らせ TDnet PDF

#	Shareholder	Shares (thou.)	% of Total
1	Asahi Newspaper Co. 株式会社朝日新聞社	6,224,900	14.92%
2	TV Asahi Holdings Corporation 株式会社テレビ朝日ホールディングス	3,877,600	9.29%
3	公益財団法人香雪美術館	2,930,000	7.02%
4	Japan Master Trust Bank 日本マスタートラスト信託銀行株式会社（信託口）	1,767,311	4.23%
5	学校法人帝京大学	1,571,000	3.76%
6	朝日新聞信用組合	1,500,000	3.59%
7	OSAKA GAS CO.,LTD. 大阪瓦斯株式会社	1,065,000	2.55%
8	株式会社嶋村吉洋映画企画	804,000	1.93%
9	近鉄バス株式会社	800,000	1.92%
10	TAKENAKA CORPORATION 株式会社竹中工務店	776,600	1.86%

as of 2025-03-31 Source: EDINET ↗

Ownership by year — hover bars for detail

Domestic Nominees

4.2%

+0.8% vs 2024

Trust bank custodians — GPIF, pensions, investment trusts

Foreign Custodians

0.0%

+0.0% vs 2024

Sub-custodians for foreign asset managers

Direct / Strategic

46.8%

+0.1% vs 2024

Named entities with disclosed investment intent

Shareholder	Trend	2023	2024	2025
Asahi Newspaper Co. 式会社朝日新聞社		14.92%	14.90%	14.92% +0.02%
TV Asahi Holdings Corporation 式会社テレビ朝日ホールディングス		9.29%	9.28%	9.29% +0.01%
公益財団法人香雪美術館		7.02%	7.01%	7.02% +0.01%
Japan Master Trust Bank 日本マスタートラスト信託銀行		3.83%	3.47%	4.23% +0.76%
学校法人帝京大学		3.76%	3.76%	3.76%
朝日新聞信用組合		3.59%	3.59%	3.59%
OSAKA GAS CO.,LTD. 大阪瓦斯		2.55%	2.55%	2.55%
式会社嶋村吉洋映画企画		—	1.92%	1.93% +0.01%
近鉄バス		1.92%	1.92%	1.92%
TAKENAKA CORPORATION 式会社竹中工務店		1.86%	1.86%	1.86%
日本生命保険 last seen 2023	Exited Top 10	2.29%	—	—
Concentration (HHI) ⓘ		419	414	420

3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved

Portfolio Book Value ¥7,908M +21% since 2023

Holdings 9

Trend 2 unwinding vs 2023

Held Company	FY2025 ¥7,908M total		FY2023 ¥6,550M total
	Book Val ¥M	Shares	Book Val ¥M	Shares
TV Asahi Holdings Corporation ㈱テレビ朝日ホールディングス	3,985	1,572,000	2,369	1,572,000	M
TOEI COMPANY,LTD. 東映㈱	1,087	+186.7% ↑ 215,000	1,286	75,000	M
TBS Holdings Co., Ltd. ㈱TBSホールディングス	1,055	-18.2% ↓ 247,610	576	302,610	M
DENTSU GROUP INC. ㈱電通グループ	658	200,000	930	200,000	M
Keihan Holdings Co.,Ltd. 京阪ホールディングス㈱	357	109,800	379	109,800	M
Shochiku Co;Ltd. 松竹㈱	311	-28.3% ↓ 25,300	403	35,300	M
HAKUHODO DY HOLDINGS INCORPORATED ㈱博報堂DYホールディングス	216	200,000	299	200,000
DKK Co.,Ltd. 電気興業㈱	159	89,600	200	89,600
Kintetsu Group Holdings Co. 近鉄グループホールディングス㈱	80	25,376	108	25,376
Portfolio total	7,908		6,550

Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding