May 2026
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Largest TV Broadcasting Public Companies in Japan
Benchmark revenue and EBITDA valuation multiples for public comps like
TBS Holdings, Nippon Television, FUJI Media Holdings, TV Asahi and TV Tokyo Holdings.
 | TBS Holdings Inc is a Japanese media and broadcasting holding company that operates television businesses through its subsidiaries. The company operates through three reportable segments: Media & Content Business, Lifestyle Business, and Real Estate & Other Business. The Media & Content Business includes television and radio broadcasting, event planning, video software production, and distribution. The Lifestyle Business handles general merchandise retail, beauty and wellness services, private tutoring, and early childhood education. The Real Estate & Other Business segment involves land and building rentals. It generates the majority of its revenue from the Media & content business segment. | $35 | +11% | $6B | $5B | 2.0x | 9.5x | ||
| Nippon Television Holdings Inc is a broadcasting and television company. It is engaged in media, content, life and health-related, and real estate businesses. The company operates through three reportable segments: the Media and Content Business, which handles television advertising, video distribution, pay-TV, retail, and film production; the Life and Health Related Business, which operates comprehensive sports clubs; and the Real Estate Related Business, which manages real estate rental, building operations, and solar power generation. It generates the majority of its revenue from the Media and Content Business segment. | $18 | -17% | $4B | $3B | 1.0x | 5.8x | ||
| FUJI Media Holdings Inc operates as a certified broadcasting holding company engaged in media, content, and related businesses. The company has two reportable segments: Media & Content Business, which involves broadcasting, film and animation production, music publishing, advertising, and mail-order sales; and Urban Development & Tourism Business, which engages in building rental, real estate transactions, and hotel and resort management. The company earns the majority of its revenue in Japan. | $24 | +16% | $3B | $6B | 1.8x | 46.0x | ||
| TV Asahi Holdings Corporation is a Japanese multimedia group. Ranging from its primary business of broadcast TV, the company owns and manages music publishing and miscellaneous businesses. The Television Broadcasting segment is involved in the production and broadcasting of TV programs. The Music Publishing segment attends to music copyrights and related rights as well as the artist management and recording businesses and through the Others segment, it is engaged in event management and the sale of digital goods such as DVDs. The company derives its revenue from TV Broadcasting Business. | $20 | +11% | $2B | $2B | 0.8x | 8.4x | ||
| TV Tokyo Holdings Corporation operates in the broadcasting space in Japan. It is primarily involved in the terrestrial broadcasting business apart from its operation through other segments such as Broadcasting - Peripheral and Satellite Broadcasting. The Terrestrial Broadcasting segment is engaged in the sale of programs to other broadcasters, the provision of broadcast program and film rights, as well as the organization of events. The Broadcasting- peripheral segment is involved in the planning and production of programs, the mail-order business and the Broadcasting Satellite (BS) segment provides TV programs by BS digital broadcasting. | $23 | +4% | $604M | $335M | 0.3x | 4.1x | ||
| Tohokushinsha Film Corp is a Japanese based media company. It operates in four business divisions including media production, distribution, broadcasting and commercial film production. Its business activities include advertising production, sales promotion, digital production, dubbing and subtitling, film distribution, film library, television distribution, and broadcasting operations. | $3 | -4% | $466M | $151M | 0.5x | 1.8x | ||
| Asahi Broadcasting Group Holdings Corp is based in Japan. The company has two segments Broadcasting and Contents Business segment and the Style Business segment. The Broadcasting and Contents Business includes television and radio broadcasting and various content-related businesses, and the Lifestyle business segment consists of the housing exhibition center operation business, mail order business, and golf course operation business. The company generates the majority of its revenue from the Broadcasting and Content Business. | $5 | +15% | $209M | $75M | 0.1x | 1.6x | ||
| Chubu-Nippon Broadcasting Co Ltd is engaged in broadcasting and real estate businesses. | $8 | +74% | $200M | $107M | 0.5x | 4.3x | ||
| Wowow Inc is a broadcasting station operator based in Japan. The company operates its business through two segments namely Broadcast segment and Telemarketing segment through which it provides services through cable TV, communication satellite broadcasting and Internet Protocol television, based on producing and procuring programs and conducting TV broadcasting at a fee charged by broadcasting satellite. It also offers free program distribution service for TV members only and provides digital marketing support on the web, e-mail, mail order, and travel, event planning, and operation. | $6 | -2% | $177M | ($9M) | (0.0x) | (0.2x) | ||
| Nippon BS Broadcasting Corp is a Japan-based company engages in the satellite broadcasting services. It provides various programs that include news, economy, entertainment, drama, movie, anime, hobby and art, travel, education, sports, and special program. | $6 | -3% | $100M | $12M | 0.2x | 0.8x | ||
| KeyHolder Inc, through its subsidiaries is engaged in various businesses including advertising agency, casting, operation of the live music club, management, operation business and others. Its segments include: General Entertainment Business; Video Production Business; Video Production Business; and Logistics business. | $5 | +9% | $95M | $87M | 0.4x | 3.4x | ||
| Broadmedia Corporation engages in the content distribution business in Japan. The company operates through six segments: Education, Media Content, Studio Production, Broadcasting, Technology, and Others. It generates the majority of its revenue from the Technology segment, which offers technology services, such as the delivery of content through CDN, and digital cinema and Internet services. | $11 | -6% | $79M | $55M | 0.6x | 11.2x | ||
| Sm Entertainment Japan Co Ltd is engaged in the Broadcasting, Management, Mobile, Fan club, MD, Event, and concert, Rights, and Music businessess. | $0 | -30% | $57M | $34M | 0.5x | 11.8x | ||
| Median | $8 | +4% | $209M | $107M | 0.5x | 4.3x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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