TBS HOLDINGS INC. (JP:9401)
:9401
Want to see JP:9401 full AI Analyst Report?
Top Page
TBS HOLDINGS INC.
(9401)
Select Model
Select Model
Rating:70Outperform
Price Target:
¥6,571.00
▲(15.61% Upside)
Action:Reiterated
Date:05/16/26
The score is driven primarily by solid profitability trends and a conservatively financed balance sheet, partially offset by weak and inconsistent cash conversion (recent negative free cash flow). Technicals are supportive with positive momentum, while valuation is only moderately attractive given a modest dividend yield.
Positive Factors
Steady revenue growth
Consistent top-line expansion over several years indicates durable audience reach and content monetization. A growing revenue base supports advertising sales and licensing, enabling sustained reinvestment in programming and distribution that underpins medium-term competitive positioning.
Negative Factors
Weak cash generation
Operating cash flow lagging accounting profits signals poor cash conversion quality. Persistent weak OCF limits the firm's ability to fund content spend, capex or shareholder returns from operations, forcing reliance on financing or balance-sheet adjustments that can constrain strategic flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Steady revenue growth
Consistent top-line expansion over several years indicates durable audience reach and content monetization. A growing revenue base supports advertising sales and licensing, enabling sustained reinvestment in programming and distribution that underpins medium-term competitive positioning.
Read all positive factors
TBS HOLDINGS INC. (9401) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥955.80B
Dividend Yield1.3%
Average Volume (3M)202.50K
Price to Earnings (P/E)16.9
Beta (1Y)0.79
Revenue Growth4.46%
EPS Growth21.50%
CountryJP
Employees7,992
SectorCommunication Services
Sector Strength97
IndustryBroadcasting
Share Statistics
EPS (TTM)293.94
Shares Outstanding165,591,060
10 Day Avg. Volume208,880
30 Day Avg. Volume202,496
Financial Highlights & Ratios
PEG Ratio0.79
Price to Book (P/B)0.78
Price to Sales (P/S)2.07
P/FCF Ratio-302.05
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)319.58
Revenue Forecast (FY)¥438.30B
TBS HOLDINGS INC. Business Overview & Revenue Model
Company Description
TBS Holdings,Inc. engages in the broadcasting, video and cultural, and real estate businesses primarily in Japan. It is involved in the TV and radio broadcasting, and related activities; plans, produces, distributes, and sells video, audio, and mu...
How the Company Makes Money
TBS HOLDINGS INC. primarily monetizes its broadcasting and content operations. Key revenue streams include (1) advertising sales tied to television programming (including spot ads and time-based sponsorships), where revenue depends on audience rat...
TBS HOLDINGS INC. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
84
Very Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 408.73B | 424.85B | 406.70B | 394.31B | 368.13B | 358.27B |
| Gross Profit | 130.99B | 141.30B | 128.74B | 120.42B | 116.42B | 114.82B |
| EBITDA | 26.32B | 42.82B | 37.26B | 32.11B | 36.03B | 35.95B |
| Net Income | 47.24B | 52.23B | 43.91B | 38.13B | 35.18B | 32.01B |
Balance Sheet | ||||||
| Total Assets | 1.42T | 1.63T | 1.30T | 1.57T | 1.07T | 1.20T |
| Cash, Cash Equivalents and Short-Term Investments | 51.82B | 124.23B | 74.63B | 43.74B | 97.65B | 98.78B |
| Total Debt | 14.31B | 74.11B | 14.24B | 4.02B | 20.31B | 26.19B |
| Total Liabilities | 369.95B | 492.83B | 346.89B | 417.55B | 271.68B | 318.63B |
| Stockholders Equity | 1.04T | 1.13T | 935.71B | 1.14T | 780.67B | 868.46B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -2.92B | -282.00M | 18.33B | 4.52B | -28.74B |
| Operating Cash Flow | 0.00 | 10.13B | 23.28B | 26.54B | 30.63B | -2.85B |
| Investing Cash Flow | 0.00 | 30.10B | 13.64B | -29.56B | -7.35B | -8.15B |
| Financing Cash Flow | 0.00 | 9.09B | -6.11B | -51.01B | -24.49B | -8.16B |
TBS HOLDINGS INC. Technical Analysis
Positive
5684.00
Price Trends
5701.99
Positive
5798.89
Positive
5592.33
Positive
Market Momentum
63.17
Negative
57.98
Neutral
48.19
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9401, the sentiment is Positive. The current price of 5684 is below the 20-day moving average (MA) of 5744.80, below the 50-day MA of 5701.99, and above the 200-day MA of 5592.33, indicating a bullish trend. The MACD of 63.17 indicates Negative momentum. The RSI at 57.98 is Neutral, neither overbought nor oversold. The STOCH value of 48.19 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9401.
TBS HOLDINGS INC. Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ¥106.77B | 14.19 | ― | 1.71% | 5.83% | 28.78% | |
72 Outperform | ¥1.17T | 36.08 | 7.76% | 1.67% | 3.12% | 21.97% | |
72 Outperform | ¥318.28B | 11.69 | 7.48% | 1.79% | 4.76% | 15.97% | |
70 Outperform | ¥955.80B | 16.87 | 5.45% | 1.30% | 4.46% | 21.50% | |
69 Neutral | ¥745.96B | 13.84 | 6.38% | 1.03% | 4.87% | 24.35% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
43 Neutral | ¥553.63B | 121.64 | -2.45% | 1.40% | 0.20% | ― |
* Communication Services Sector Average
JP:9401
TBS HOLDINGS INC.
5,959.00
1,270.12
27.09%
JP:4676
Fuji Media Holdings
3,802.00
912.46
31.58%
JP:9404
Nippon Television Holdings
2,921.00
-320.61
-9.89%
JP:9412
SKY Perfect JSAT Holdings
4,260.00
3,083.20
262.00%
JP:9409
TV Asahi Holdings
3,105.00
592.93
23.60%
JP:9413
TV Tokyo Holdings Corporation
3,865.00
342.28
9.72%
TBS HOLDINGS INC. Corporate Events
TBS Holdings Tightens Takeover Defense by Reshaping Special Committee
May 14, 2026
TBS Holdings has amended its policy on responding to takeover proposals by revising the composition of its Special Committee for Appraising Corporate Value. The committee will now be composed solely of outside directors and outside audit and super...
TBS Holdings Renews Takeover Defense Plan as It Updates Medium-Term Strategy
May 14, 2026
TBS HOLDINGS will renew for one year its policy on responding to takeover proposals for its shares, after deciding not to seek its abolition at the upcoming 99th Ordinary General Meeting of Shareholders. The company argues that maintaining this ta...
TBS Holdings Weighs Cutting Share Investment Units to Broaden Investor Base
May 14, 2026
TBS Holdings has announced its stance on potentially reducing the minimum investment unit for its shares, viewing such a move as an effective way to broaden its investor base and improve share liquidity. The company will continue to assess whether...
TBS Holdings Overhauls Executive Lineup to Bolster Governance and Group Strategy
May 14, 2026
TBS HOLDINGS has announced a broad reshuffle of its leadership, including the appointment of Tokyo Broadcasting System Television senior managing director Takanobu Goda as managing director of the holding company, effective June 26, 2026. The boar...
TBS Holdings Rejects Activist Push for Higher Payouts to Protect Growth Investments
May 14, 2026
TBS Holdings has outlined the agenda for its June 26, 2026, annual shareholders’ meeting, including company proposals on surplus appropriation and the election of 12 directors, while disclosing activist shareholder proposals on higher shareh...
TBS Holdings Launches ¥36 Billion Share Buyback and Cancels 4.5 Million Shares
May 14, 2026
TBS HOLDINGS will repurchase up to 6.5 million of its common shares, or about 4.05% of its outstanding stock excluding treasury shares, for a maximum of 36 billion yen between May 15, 2026 and February 26, 2027, via market purchases on the Tokyo S...
TBS Holdings Hikes Year-End Dividend as Medium-Term Plan Outpaces Targets
May 14, 2026
TBS Holdings, Inc. has approved a year-end dividend of ¥49 per share for the fiscal year ended March 31, 2026, up from ¥41 a year earlier and above its previous forecast of ¥38. The payout, to be funded from retained earnings and su...
TBS Holdings Hits Profit Target Early, Lifts Forecasts and Shareholder Returns
May 14, 2026
TBS Holdings Inc. reported record consolidated net sales of ¥424.85 billion and a sharp rise in operating profit to ¥24.75 billion for the fiscal year ended March 31, 2026, driven by strong broadcasting performance, higher streaming ad r...
TBS Holdings Lifts Profit and Dividends on Strong FY2026, Signals Further Payout Hike
May 14, 2026
TBS Holdings reported solid results for the fiscal year ended March 31, 2026, with net sales rising 4.5% to ¥424.85 billion and operating profit up 27.1%, driving an 18.9% increase in profit attributable to owners of the parent and stronger r...
TBS Holdings Names Former Benesse Executive as Project Executive Officer
Apr 23, 2026
TBS HOLDINGS, INC. has announced a management change, appointing Masaki Yamasaki as Project Executive Officer effective May 1, 2026. Yamasaki brings prior senior leadership experience from Benesse Holdings Inc. and Benesse Corporation, a move that...
TBS Holdings Reports 18.34% of Voting Rights Held by Foreign Investors
Apr 20, 2026
TBS Holdings Inc. has disclosed that, as of March 31, 2026, foreign nationals and related entities held 29,441,615 shares, representing 18.34% of the company’s voting rights. The company is required to publicly announce this ownership ratio,...
TBS, CJ ENM and U-NEXT Launch StudioMonowa to Build Global IP Creation Hub
Apr 10, 2026
TBS HOLDINGS, INC. has finalized the details of a joint venture with Korean entertainment company CJ ENM and streaming platform operator U-NEXT HOLDINGS to build a global framework for creating and developing intellectual property. The new company...
TBS Holdings Revises Executive Officer Role for Group Leadership Alignment
Apr 2, 2026
TBS HOLDINGS, INC. has announced a change in the titles and responsibilities of Executive Officer Hirohiko Shigemune, effective April 2, 2026. Shigemune will now serve as Executive Officer in charge of Special Corporate Assignments at TBS Holdings...
TBS Holdings to Book ¥10 Billion Extraordinary Gain From Sale of Investment Securities
Apr 2, 2026
TBS HOLDINGS, INC. has approved the sale of eight listed investment securities held by the parent company and two wholly owned subsidiaries. The move is positioned as part of a broader review of strategic shareholdings in line with Japan’s C...
TBS to Launch Global IP Joint Venture With Korea’s CJ ENM and U-NEXT
Feb 27, 2026
TBS HOLDINGS, INC. has agreed to form a joint venture in Japan with Korean entertainment major CJ ENM and domestic streaming operator U-NEXT HOLDINGS to build a global IP creation framework spanning Japanese and South Korean content. The new compa...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.