Note: This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results

for the Six Months Ended September 30, 2023

[Japanese GAAP]

Company name: SKY Perfect JSAT Holdings Inc.

November 1, 2023

Stock exchange listing: Tokyo

Code number: 9412

URL: https://www.skyperfectjsat.space/

Representative: Eiichi Yonekura

Representative Director,President

Contact: Koichi Matsutani

Director

Phone: +81-3-5571-1500

Scheduled date of filing quarterly securities report: November 2, 2023

Scheduled date of commencing dividend payments: December 4, 2023

Availability of supplementary briefing material on quarterly financial results: Yes

Schedule of quarterly financial results briefing session: Yes

(Amounts of less than one million yen are rounded down.)

1. Consolidated Financial Results for the Six Months Ended September 30, 2023 (April 1, 2023 to September 30, 2023)

(1) Consolidated Operating Results

(% indicates changes from the previous corresponding period.)

Operating revenues

Operating profit

Ordinary profit

Profit attributable to

owners of parent

Six months ended

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

September 30, 2023

60,498

4.3

13,401

20.2

13,839

18.9

8,555

11.1

September 30, 2022

57,996

(0.7)

11,147

2.7

11,635

1.8

7,703

(9.7)

(Note) Comprehensive income:

Six months ended September 30, 2023:

Six months ended September 30, 2022:

¥

10,716 million

[

5.5%]

¥

10,157 million

[

1.5%]

Basic earnings

Diluted earnings per

per share

share

Six months ended

Yen

Yen

September 30, 2023

29.47

-

September 30, 2022

26.53

-

(2) Consolidated Financial Position

Total assets

Net assets

Capital adequacy ratio

Net assets per share

As of

Millions of yen

Millions of yen

%

Yen

September 30, 2023

398,348

262,924

65.6

905.72

March 31, 2023

399,055

256,815

64.0

879.33

(Reference) Equity: As of

September 30, 2023:

¥

261,399 million

As of

March 31, 2023:

¥

255,420 million

― 1 ―

2. Dividends

Annual dividends

1st

2nd

3rd

Year-end

Total

quarter-end

quarter-end

quarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2023

-

9.00

-

11.00

20.00

Fiscal year ending March 31, 2024

-

10.00

Fiscal year ending March 31, 2024

-

10.00

20.00

(Forecast)

(Note) Revision to the forecast for dividends

announced most

recently:

No

(Note) Breakdown of the 2nd quarter dividend for the fiscal year ending March 31, 2024 :

Commemorative dividend

-

yen

Special dividend

-

yen

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024(April 1, 2023 to March 31, 2024)

(% indicates changes from the previous corresponding period.)

Operating revenues

Operating profit

Ordinary profit

Profit attributable

Basic earnings per

to owners of parent

share

Millions of

Millions of

Millions of

Millions of

yen

%

yen

%

yen

%

yen

%

Yen

Full year

121,000

(0.1)

22,500

0.8

22,000

(5.2)

15,000

(5.1)

51.64

(Note) Revision to the financial results forecast announced most recently:

No

* Notes:

(1) Changes in significant subsidiaries during the six months ended September 30, 2023

(changes in specified subsidiaries resulting in changes in scope of consolidation):

No

New

-

(Company name:

)

Exclusion:

-

(Company name:

)

(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:

No

  1. Changes in accounting policies, changes in accounting estimates and retrospective restatement
    1. Changes in accounting policies due to the revision of accounting standards: No
    2. Changes in accounting policies other than 1) above: No
    3. Changes in accounting estimates: No
    4. Retrospective restatement: No
  3. Total number of issued shares (common shares)
    1. Total number of issued shares at the end of the period (including treasury shares):

September 30, 2023:

297,578,423

shares

March 31, 2023:

297,404,212

shares

2) Number of treasury shares at the end of the period:

September 30, 2023:

8,968,086

shares

March 31, 2023:

6,933,124

shares

3) Average number of shares outstanding during the period:

Six months ended September 30, 2023:

290,339,371

shares

Six months ended September 30, 2022:

290,361,421

shares

(Subsequent events)

(Investment in Joint Satellite Business)

In October 2023, JSAT International Inc., a 100% owned subsidiary of SKY Perfect JSAT Corporation, invested $25 million in a Horizons-4 Satellite LLC that owns this satellite, in order to conduct a joint satellite business using Horizons-4, a fifth joint satellite with Intelsat S.A ( headquarter : Luxembourg).

Horizons-4>

Orbital Slot : 127 degrees West longitude

Launch date and time : August 3, 2023 (JST)

Frequency band: Ku-band

Primary Coverage: North America and Pacific

― 2 ―

Quarterly Consolidated Financial Statements

Quarterly Consolidated Balance Sheets

(Millions of yen)

As of March 31, 2023

As of September 30, 2023

Assets

Current assets

Cash and deposits

74,913

57,832

Accounts receivable - trade

61,474

56,878

Lease receivables

46,234

44,730

Securities

32,995

52,998

Broadcasting rights

948

1,536

Merchandise

1,232

1,598

Work in process

349

485

Supplies

228

192

Advance payments to suppliers

1,247

6,241

Short-term loans receivable

3,629

3,966

Accounts receivable - other

706

129

Other

4,982

5,131

Allowance for doubtful accounts

(88)

(79)

Total current assets

228,855

231,640

Non-current assets

Property, plant and equipment

Buildings and structures, net

7,446

8,812

Machinery, equipment and vehicles, net

18,521

17,816

Telecommunications satellites, net

61,640

56,799

Land

2,924

3,098

Construction in progress

20,523

22,142

Other, net

4,337

4,621

Total property, plant and equipment

115,393

113,291

Intangible assets

Software

4,287

4,155

Other

58

57

Total intangible assets

4,345

4,213

Investments and other assets

Investment securities

24,856

25,715

Long-term loans receivable

12,946

12,162

Deferred tax assets

10,154

9,011

Other

2,503

2,313

Total investments and other assets

50,460

49,203

Total non-current assets

170,200

166,707

Total assets

399,055

398,348

― 3 ―

(Millions of yen)

As of March 31, 2023

As of September 30, 2023

Liabilities

Current liabilities

Accounts payable - trade

254

131

Current portion of long-term borrowings

10,572

11,091

Accounts payable - other

13,715

9,285

Income taxes payable

5,804

3,695

Subscription fees received

6,754

6,897

Unearned revenue

19,145

21,763

Provision for bonuses

628

565

Other

7,201

7,781

Total current liabilities

64,076

61,211

Non-current liabilities

Bonds payable

10,000

10,000

Long-term borrowings

52,975

49,682

Deferred tax liabilities

1,102

1,388

Retirement benefit liability

6,545

6,483

Asset retirement obligations

2,273

2,308

Other

5,266

4,350

Total non-current liabilities

78,163

74,213

Total liabilities

142,239

135,424

Net assets

Shareholders' equity

Share capital

10,081

10,129

Capital surplus

131,911

131,958

Retained earnings

114,333

119,693

Treasury shares

(2,924)

(4,338)

Total shareholders' equity

253,401

257,442

Accumulated other comprehensive income

Valuation difference on available-for-sale

(191)

53

securities

Deferred gains or losses on hedges

7

661

Foreign currency translation adjustment

2,546

3,563

Remeasurements of defined benefit plans

(343)

(321)

Total accumulated other comprehensive income

2,018

3,956

Non-controlling interests

1,395

1,525

Total net assets

256,815

262,924

Total liabilities and net assets

399,055

398,348

― 4 ―

Quarterly Consolidated Statements of Income and Comprehensive Income

Quarterly Consolidated Statements of Income (For the six months)

(Millions of yen)

For the six months

For the six months

ended September 30, 2022

ended September 30, 2023

Operating revenue

57,996

60,498

Operating costs

33,493

33,520

Operating gross profit

24,502

26,977

Selling, general and administrative expenses

13,355

13,576

Operating profit

11,147

13,401

Non-operating income

Interest income

736

1,106

Dividend income

14

19

Share of profit of entities accounted for using equity

27

-

method

Foreign exchange gains

219

157

Other

182

218

Total non-operating income

1,181

1,501

Non-operating expenses

Interest expenses

646

962

Share of loss of entities accounted for using equity

-

82

method

Other

46

18

Total non-operating expenses

692

1,063

Ordinary profit

11,635

13,839

Extraordinary income

Gain on sale of investment securities

59

-

Total extraordinary income

59

-

Extraordinary losses

Loss on valuation of investment securities

223

842

Other

9

-

Total extraordinary losses

233

842

Profit before income taxes

11,461

12,997

Income taxes - current

3,216

3,370

Income taxes - deferred

431

890

Total income taxes

3,648

4,261

Profit

7,812

8,735

Profit attributable to non-controlling interests

109

179

Profit attributable to owners of parent

7,703

8,555

― 5 ―

Quarterly Consolidated Statements of Comprehensive Income (For the six months)

(Millions of yen)

For the six months

For the six months

ended September 30, 2022

ended September 30, 2023

Profit

7,812

8,735

Other comprehensive income

Valuation difference on available-for-sale securities

Deferred gains or losses on hedges

Foreign currency translation adjustment

Remeasurements of defined benefit plans, net of tax Share of other comprehensive income of entities accounted for using equity method

Total other comprehensive income

Comprehensive income

Comprehensive income attributable to Comprehensive income attributable to owners of parent

Comprehensive income attributable to non-controlling interests

(216)

246

395

667

2,152

1,017

24

21

(11)

28

2,344

1,981

10,157

10,716

9,99910,493

157

222

― 6 ―

Quarterly Consolidated Statements of Cash Flows

(Millions of yen)

For the six months

For the six months

ended September 30, 2022

ended September 30, 2023

Cash flows from operating activities

Profit before income taxes

11,461

12,997

Depreciation

10,581

9,900

Amortization of goodwill

33

-

Interest and dividend income

(751)

(1,125)

Interest expenses

646

962

Share of loss (profit) of entities accounted for using

(27)

82

equity method

Loss (gain) on valuation of investment securities

223

842

Decrease (increase) in trade receivables

4,707

4,769

Increase (decrease) in broadcasting rights

(1,211)

(587)

Decrease (increase) in inventories

(700)

(465)

Decrease (increase) in advance payments to suppliers

(536)

(4,994)

Increase (decrease) in accounts payable - other

(4,562)

(4,432)

Increase (decrease) in unearned revenue

10,051

2,612

Decrease (increase) in lease receivables

1,405

1,504

Other, net

1,621

(1,826)

Subtotal

32,941

20,239

Interest and dividends received

759

1,105

Interest paid

(522)

(952)

Income taxes paid

(888)

(4,209)

Net cash provided by (used in) operating activities

32,290

16,183

Cash flows from investing activities

Purchase of property, plant and equipment

(5,830)

(4,875)

Purchase of intangible assets

(853)

(694)

Purchase of investment securities

(79)

(75)

Proceeds from sale and redemption of investment

478

-

securities

Proceeds from collection of loans receivable

1,347

1,846

Purchase of shares of subsidiaries and associates

(3,000)

-

Other, net

(79)

1

Net cash provided by (used in) investing activities

(8,018)

(3,797)

Cash flows from financing activities

Repayments of finance lease liabilities

(0)

-

Repayments of long-term borrowings

(4,252)

(4,813)

Redemption of bonds

(5,000)

-

Purchase of treasury shares

-

(1,415)

Dividends paid

(2,610)

(3,192)

Dividends paid to non-controlling interests

(58)

(92)

Net cash provided by (used in) financing activities

(11,921)

(9,512)

Effect of exchange rate change on cash and cash

922

633

equivalents

Net increase (decrease) in cash and cash equivalents

13,273

3,506

Cash and cash equivalents at beginning of period

85,914

107,908

Cash and cash equivalents at end of period

99,187

111,415

― 7 ―

Attachments

Disclaimer

SKY Perfect JSAT Holdings Inc. published this content on 01 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 November 2023 06:02:46 UTC.