Fuji Media Holdings posts Q1 loss amid revenue decline

Fuji Media Holdings reported consolidated net sales of 116.14bn yen for the three months ended June 30, down 10.4% year-on-year, with an operating loss of 12.78bn yen.

The Media & Content segment's sales plunged 32.6% to 66.71bn yen, resulting in a segment loss of 20.4bn yen.

However, the Urban Development, Hotels & Resorts segment saw sales surge 62.9% to 47.3bn yen, with operating profit jumping 117.4% to 8.37bn yen.