NIPPON


 

Japan's Fuji Media Holdings Inc. on Friday reported a consolidated net loss of 20.1 billion yen for fiscal 2024, its first red ink since becoming a holding company in 2008.

Fuji Media, which had logged 37 billion yen in profit a year earlier, saw many sponsors leave scandal-embattled core unit Fuji Television Network Inc. over its handling of a sex scandal involving now-retired TV personality Masahiro Nakai.

Due to falling advertising revenue, the holding company's overall revenue dropped 2.8 pct and operating profit dived 45.4 pct.

 

For fiscal 2025 through March 2026, Fuji Media expects to secure a net profit of 10 billion yen thanks to the strength of its real estate business and the sale of shareholdings.

However, operating profit is expected to dive 86.3 pct to 2.5 billion yen, hurt by a prolonged impact of slumping ad revenue caused by suspensions and cancellations of TV commercials.