Asahi Broadcasting : Notice of Revision of Financial Results Forecasts

Note: This document has been translated from 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.

May 9, 2023 Company Name: Asahi Broadcasting Group Holdings Corporation Representative: Susumu Okinaka, Representative Director and President (Securities Code: 9405, Tokyo Stock Exchange Prime Market)

Inquiries: Yoko Kumada, General Manager, Corporate Management Division (TEL: [phone])

Notice of Revision of Financial Results Forecasts

Asahi Broadcasting Group Holdings Corporation ("the Company") today announces the revision of its full-year consolidated financial results forecasts for fiscal 2022 (April 1, 2022 to March 31, 2023) announced on November 14, 2022, in light of recent performance trends and other factors, as follows. We have not changed our full-year dividend forecast of 16 yen per share in connection with the revision of financial results forecasts described herein.

1. Revision of financial results forecasts

1. Revision of full-year consolidated financial results forecasts for fiscal 2022 (April 1, 2022 to March 31, 2023)

	Net Sales	Operating	Ordinary	Profit Attributable		Basic Earnings
	Income	Income	to Owners of Parent		per Share
	¥ million	¥ million	¥ million	¥ million	¥
Previously announced
forecasts (A)	87,000	2,900	3,400	2,200	52.66
(Announced on
November 14, 2022)
Revised forecasts (B)	87,000	2,600	2,650	1,350	32.32
Change (B-A)	-	(300)	(750)	(850)
Percentage change (%)	-	(10.3)	(22.1)	(38.6)
(Ref) Results for the
full-year ended March	85,100	4,203	4,792	2,671	64.97
31, 2022

(2) Reasons for the revision

In the Asahi Broadcasting Group mainstay Broadcasting business segment, TV spot advertising sales were somewhat lower than forecast previously. We also executed up-front investments in our Content business. Further, we experienced delays in the development of at-home shopping and other new businesses under our Lifestyle business segment, while we recorded extraordinary losses in connection with impairment losses related to fixed assets. As a result of these and other factors, we made downward revisions in operating income, ordinary income, and profit attributable to owners of parent.

Note: The forecasts presented above are based on information that is currently available to the Group and certain assumptions that are judged to be reasonable. Actual results may differ from the forecasts due to various factors.