Nippon BS Broadcasting Corp. posted a 47% surge in quarterly profit as the Tokyo-based broadcaster benefited from reduced production expenses and lower depreciation costs from studio upgrades.
Net income climbed to ¥365 million ($2.5 million) in the three months through November, while revenue dropped 2.1% to ¥2.89 billion. The company saw declines across both its core broadcasting and supplementary business segments.
Broadcasting revenue, which accounts for about 89% of total sales, dipped 0.9% to ¥2.57 billion. While shopping program slots performed well, the termination of previously carried shows and continued weakness in spot advertising weighed on results.
The company’s non-broadcasting division, which includes streaming services and events, saw revenue fall 11% to ¥319 million despite stronger digital content sales. The decline was primarily due to lower dividends from anime production committee investments compared to several hit titles in the previous year.
Nippon BS maintained its full-year forecast, projecting net income to decline 3.3% to ¥1.41 billion on revenue of ¥12.31 billion. The company has achieved about 26% of its annual profit target in the first quarter.
