Japan Media Industry Report Highlights Key Trends

(c) 2015 Eurotechnology Japan KK www.eurotechnology.com Japan’s media (Version 14) August 26, 20151
JAPAN’S MEDIA
Version 14 of August 26, 2015
by Gerhard Fasol PhD, Eurotechnology Japan KK
http://www.eurotechnology.com/
fasol@eurotechnology.com
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JAPAN’S MEDIA -VERSION OVERVIEW
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JAPAN’S MEDIA -VERSION OVERVIEW
3
Version Date Revision and comments
11 March 25, 2014 revision, data added up to 2014
12 July 21, 2015 updates, CyberAgent, LINE added
13 July 26, 2015
14 August 26, 2015 M&A Dentsu, Nikkei-FT acquisition
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EXECUTIVE SUMMARY
JAPAN’S MEDIA
• Japan’s media industry has a prominent position globally, both as a market and as a creator with
global impact. Understanding the structure of Japan’s media industry is important for many -
including marketing and communications specialists, or people working in branding and media.
• Japan’s media industry is extremely creative and make important global cultural contributions.
Japan’s creative sectors include the animation and cartoon industry, movies, game software and
hardware, music, mobile communications, mobile internet and several others.
• Dentsu is Japan’s dominating agency with an overwhelming position in Japan. Starting with the
acquisition of Aegis, Dentsu is now on a path to leverage its dominating position in Japan globally.
• With a circulation of almost 72 million copies per day, Japan’s newspaper industry has much larger
circulation than that of the USA and is at the core of Japan’s media industry
• TV is dominated by five large private media groups grown out of and linked to the main
newspaper groups: NihonTelevi, FujiTelevi,TBS,Televi Asahi andTeleviTokyo, as well as the public
NHK which is financed via subscriptions.
• Internet and mobile internet are increasing steadily in importance and influence. Mobile music
takes over as a music distribution channel from traditional CD and DVD sales. Mobile games take
over fromTV games.Traditional sectors, for example Karaoke, tend to decrease in importance.
• Several dramatic take-over battles for management control and ownership of Japan’s largest
media groups, manifest changes in Japan’s media industry caused by the growth of the internet,
globalization, transition to digital from analogTV and many other factors of change.
5

AGENDA - JAPAN’S MEDIA
6
-Executive Summary
-Japan’s media - overview and trends
-Disruption: LINE
-Advertising agencies and creative: Dentsu, Hakuhodo, Recruit and Cyberagent
-News agencies: Kyodo…
-Newspapers
-Magazines
-TV and Radio, CATV, Satellite
-Mobile terrestrial digitalTV for mobile phones “OneSeg”
-Packet radio
-Telecommunications landscape
-Animation, manga and character goods
-Movie industry and video sales and rentals
-Music, mobile music, Karaoke
-eBooks, and eManga for mobile phones
-Games
-Summary

OVERVIEW ANDTRENDS
7

TRENDS
10
-TV:
-analogTV terminated in 2011, digital terrestrialTV (DTV)
-mobile digitalTV (one-seg) remains a niche
-linking mobile phones andTV, mobile phones/smartphones as additional screens
-liberalization of regulatory environment put on hold
-holding companies to avoid takeovers a la Livedoor/Fuji and Rakuten/TBS
-Smart phones, tablets, mobile phones:
-The transition to 3G is complete, LTE is widely deployed
-economics have moved from traditional Japanese feature phones/galake to smart phones
-mobile games/smartphone games replace video games
-Broadband
-25 million Fiber to the home( FTTH) subscriptions, however the FTTH rollout is slower than initially projected by
NTT and the Government
-Unbundling leads to much lower prices and higher competition
-see: http://www.eurotechnology.com/store/jcomm/
-Internet and mobile internet disruption
-after an initial delay, Japan has catapulted itself to the forefront of the global internet revolution. CyberAgent is Japan’s
king of blogs, and leveraged blogs into a media group, while LINE build an empire from sticker communications.
Unlike Europe, Japan has managed to create its own internet groups, e.g. Rakuten, which is working towards a global
position via acquisitions
-Games:
-Games are moving from consoles to smart phones
-Nintendo and traditional game companies are down, Colopl, GungHo, Gree, and DeNA are up, see: http://
www.eurotechnology.com/store/jgames/

INNOVATION AND DISRUPTION OF JAPAN’S MEDIA
INDUSTRIES
11

LINE
“the leading provider of sticker-based
communications”
12

LINE
COMMUNICATE WITH STICKERS
15
Brown & Cony
Moon & James

LINE
COMMUNICATE WITH STICKERS
16
• LINE Creators market
• started April 17, 2014
• 270,000 sticker creators (7 November 2014)
• receive 50% of all revenues
• 30,000 sets of stickers for sale
• 8 April, 2014 - 7 November 2014 (6 months):
• 35.95 million stickers purchased
• total sales: ¥ 3.59 billion (US$ 30 million)

DISNEYTSUMU-TSUMU
NIKKEI HIT PRODUCTS OF 2014: NO. 7
19
•cuddly toys + smart phone
screen cleaner function
•start: October 2013
•2 million sold by Aug. 2014
•top ranking smartphone game
•cooperation with LINE
•start: January 2014

ADVERTISING,AGENCIES AND CREATIVE
22

DENTSU
26

DENTSU HEADQUARTERS 電通本社ビル INTOKYO-SHIODOME
ARCHITECT: JEAN NOUVEL

Dentsu
Founded
December 27, 1906 as JapanTelegram Communications Company.
1936 sold news, focus on advertising. 1955 name change to Dentsu.
Founder Hoshiro Mitsunaga
Headquarters Tokyo, Shiodome
Stock Exchange TSE 4324 (IPO Nov 30, 2001)
Consolidated sales YEN 1943.1 Billion (US$ 19.4 Billion) FY 2012 (ended March 31, 2013)
Number of employees 21,649 (March 31, 2013)
Major share holders Kyodo Press 7.37%, Jiji Press 6.74%, Mizuho Corporate Bank 1.8%
Major business areas Advertising, Marketing, content services

DENTSU - MARGINS
SWITCH FROM JGAAPTO IFRS
37
According to IFRS accounting standards, Dentsu’s margins are:
operating margin on the order of 20% and
net margin on the the order of 10% (reﬂecting the approx 50% Japanese
corporate tax rate)
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2000 2005 2010 2015 2020
-10
0
10
20
30
annualoperatingmargin(%)
Annual margins Dentsu (%)
operating margin (JGAAP)
net margin (JGAAP)
operating margin (IFRS)
net margin (IFRS)
(c)2015EurotechnologyJapanKK
www.eurotechnology.com

HAKUHODO
38

HAKUHODO GROUP MARGINS
43
Hakuhodo Group’s margins are in the same low range as Dentsu’s - in the case
of Japanese accounting standards
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2000 2005 2010 2015 2020
-1
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2
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Annual margins Hakuhodo (%)
operating margin
net margin

ASATSU-DK
アニメ伝説の開拓者 =
A PIONEER OFTHE ANIMATION LEGENDS
44

ASATSU DK GROUP MARGINS
48
ADK’s margins are in the 1% range, except in times of crisis, e.g. September 11
and Lehman crisis.
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2000 2005 2010 2015 2020
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Annual margins Asatsu DK (%)
operating margin
net margin

RECRUIT
49

ADVERTISING INDUSTRY OVERVIEW
53
“Hot pepper” is usually distributed by part time workers around
the day the salaries are paid (around last Friday of the month).
Distribution boxes shown above are also use.

HOT PEPPER - COUPON MAGAZINE
54
• Left:This issues of “Hot Pepper” uses the music group “SMAP” for advertising/co-branding.
Coupons are issued as QR-Codes (more about QR-codes: http://www.eurotechnology.com/
store/qr/
• Right: corresponding QR code for coupons at the entrance of restaurant taking part in the
promotion

RECRUIT GROUP MARGINS
58
Recruit group’s margins have been decreasing, pointing to increased competition
and commoditization in the internet world compared to Recruit’s traditional
paper journals and free papers
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2000 2005 2010 2015 2020
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10
20
30
40
annualoperatingmargin(%) Annual margins Recruit (%)
operating margin
net margin

CYBERAGENT (4751)
59

CYBERAGENT’S GAME BUSINESS
62
•In FY2014 CyberAgent’s game business achieved:
•RevenuesYEN 50.6 billion (US$ 400 million) of which 91.6%
were smartphone games
•revenues from native games wasYEN 21.4 billion (US$ 172
million)
•top ranked smartphone games are:
•Sengoku Enbu – KIZNA – (by Sumzap Inc), currently
ranked No. 8 of all apps in the Japanese iPhone AppStore
•Granblue Fantasy (by Cygames Inc)currently ranked No. 11
of all apps in the Japanese iPhone AppStore

COMPARING AGENCIES
DENTSUVS HAKUHODOVS RECRUITVS CYBERAGENT
65

COMPARING DENTSU, HAKUHODO, RECRUIT AND
CYBERAGENT
66
-Rather than comparing Dentsu with smaller Japanese advertising companies
such as Hakuhodo, we believe that Dentsu’s main competitors are:
-Google
-Facebook
-Publicis-Omnicom
-WPP
-Recruit (in Japan)
In the present section we compare Dentsu and Hakuhodo with CyberAgent and
Recruit ﬁnancial data.

JAPAN’S NEWS AGENCIES
70

JAPAN’S NEWS AGENCIES (NOT INCLUDING
INTERNATIONAL AGENCIES)
71
-Kyodo News
-Flash 24
-JIJI Press
-Tokyo NewsTsushinsha
-NPTsushinsha
-SunTelephoto
-Nihon dempa news (NDN)
-Radio Press (RP)
-PANA (Pan-Asia Newspaper alliance)
-Shin a tsushinsha
-KPI (Korea Press International)

KYODO NEWS
72

KYODO NEWS HEADQUARTERS BUILDING INTOKYO SHIODOME,
VERY NEAR DENTSU HEADQUARTERS AND NIHONTELEVI

JIJI PRESS
77

JAPAN’S NEWSPAPERS-
ANDTHEIR POWER
79

JAPAN’S NEWSPAPER CIRCULATION
81
-Japan is No. 3 after China and India in terms of circulation
-Japan’s newspaper circulation is much higher than in US, Germany or UK –
about three times higher than German newspaper circulation
Country Circulation Copies/1000 people
Number of
newspapers
China 93,500,000 71.6
India 78,800,000 73.0
Japan 71,694,000 664.0 106
US 55,578,000 274.1 1468
Germany 23,838,000 371.1 381
UK 17,899,000 383.4 109

NEWSPAPER DISTRIBUTION
86
• 93.4% of newspapers are distributed to homes through a dense network of about 20,000
distribution points employing about 430,000 people
• each newspaper group has their own network of distribution bases (above left: Nikkei, above
center:Tokyo Shinbun, right; Fuji-Sankei)

YOMIURI SHINBUN
90

Yomiuri Shinbun Holdings
Founded
1874
in today’s form on July 1, 2002
Founder
Headquarters Tokyo
Stock Exchange privately held KK
Consolidated sales YEN 713.5 Billion (=US$ 7.1 Billion), FY 2012 (ended March 31, 2013)
Number of employees
Major share holders Yomiuri investors association 29,76%, Foundations, Private individuals
Major business areas Newspaper, media. Linked to Nihon-Televi (0-Tele)

YOMIURI
92
-Guiness Book of World Records records thatYomiuri Shinbun holds the
record for “Highest daily newspaper circulation”:
-“The newspaper with the highest daily circulation is theYomiuri Shinbun,
founded in 1874, and published inTokyo, which had a combined morning
and evening circulation of 14,322,781 throughout January 2002”.
-Note, that this is about 7 times higher than the circulation of the
Wallstreet-Journal (1,966,281 copies/day worldwide circulation for April-
Sept 2001)
-and about 30 times higher than the worldwide daily circulation of the
FinancialTimes (July - Dec 2001)
-PoliticallyYomiuri Shinbun is regarded conservative center

MAINICHI SHINBUN
93

ASAHI SHINBUN
96

NIHON KEIZEI SHINBUN “NIKKEI”
99

NIKKEI ACQUIRES FINANCIALTIMES
103
Image shows the front page of Nihon Keizai Shinbun announcing the
acquisition of FinancialTimes

NIKKEIVS WALL STREET JOURNALVS NEWYORKTIMESVS FINANCIALTIMES
104
-Figures compares subscription/issue numbers of Nihon Keizai Shinbun
(Nikkei) vs Wall Street Journal, NewYorkTimes and FinancialTimes,
showing that Nihon Keizai Shinbun is by far the largest of these.
Nikkei WSJ NYT FT
0
1
2
3
4
5
million
newspapers issued and digital subscriptions
morning papers
evening papers
digital subscriptions
paper copies
digital subscriptions

SANKEI SHINBUN
108

JAPAN’S MAGAZINE MARKETS
111

JAPAN’STV AND RADIO MARKETS
120

OPERATING INCOME AND NET INCOME
128
-Operating income and net income of Japan’s top 5TV media groups was hit by the Lehman
shock aftermath, but could recover well since FY2011.
-Japan’sTV media groups are generally healthy in terms of proﬁtability despite the growth of
the internet
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
0
50
100
150
200
operatingincome(YENbillion)
Japan's major 5 TV media groups (operating income)
US$ 0.5 billion
US$ 1.0 billion
US$ 1.5 billion
US$ 2.0 billion
Fuji TV
Nihon TV
TBS
Asahi
Tokyo TV
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
0
20
40
60
80
100
120
netincome(YENbillion)
Japan's major 5 TV media groups (net income)
US$ 0.5 billion
US$ 1.0 billion
Fuji TV
Nihon TV
TBS
Asahi
Tokyo TV

NHK
132

NHK- JAPAN’S NATIONAL BROADCASTING AGENCY
133
-NHK headquarters are located inTokyo’sYoyogi area near Shibuya.
-NHK performs substantial R&D operations in addition to the
broadcasting operations, e.g. on high-deﬁnitionTV

FUJI MEDIA HOLDINGS
FUJITV
136

FUJI MEDIA GROUP HEADQUARTERS INTOKYO-
ODAIBA
137

FUJITV
139
-Fuji-TV is at the core of the Fuji-Sankei Media Group. Other member companies of the group
are:
-FujiTV
-Sankei Shinbun (Sangiyo Keisai Shinbun)
-Nihon Hosou (Japan Radio)
-PONY-Canion
-Fuso Publishing
-Pro-BaseballTeam:Yakult Swallows
-FUJITV was founded in 1957.

HISTORIC NOTE:THE LIVEDOOR - JAPAN RADIO - FUJI-
TVTAKE-OVER BATTLE
140

FUJI MEDIA HOLDINGS GROUP MARGINS
146
Fuji Media Holdings’ margins have been relatively steady. Operating margins have
fallen from about 10% to around 5% over the last 15 years, while net margins
have been steady around 5%.
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2000 2005 2010 2015 2020
0
5
10
15
20
annualoperating/netmargin(%) Annual margins Fuji Media Holdings Inc(%)
operating margin
net margin

NIHONTELEVISION HOLDINGS
147

NIPPONTELEVI
148

NIPPONTELEVI HEADQUARTERS INTOKYO SHINBASHI
149

NIHONTELEVISION HOLDINGS GROUP MARGINS
154
Margins dipped in the aftermath of the Lehman shock and have recovered since
to the 10% range (operating margin) and 5% (net margin)
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10
15
20
25
30
Annual margins Nippon Television Holdings (%)
operating margin
net margin

TBSTOKYO BROADCASTING SYSTEM HOLDINGS
155

156

GROUP MARGINS
163
Margins are in the 5%-10% range but decreasing steadily
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2000 2005 2010 2015 2020
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0
5
10
15
20
annualoperatingmargin(%) margins TBS Tokyo Broadcasting System Holdings (%)
operating margin
net margin

TELEVI ASAHI
164

TELEVI ASAHI PROGRAM OVERVIEW
165

TVTOKYO HOLDINGS
170

TVTOKYO HOLDINGS
171

TVTokyo TVTokyo Corporation (TVTokyo Holdings Corporation)
Founded July 1, 1968
Founder
Headquarters Tokyo
Stock Exchange
TVTokyo CorporationTSE 9411 (August 5, 2004 - Sept 28, 2010)
TVTokyo Holdings CorporationTSE 9413 (IPO Oct 1, 2010)
Consolidated sales YEN 111.5 billion (US$ 1.1 billion) (FY ending March 31, 2012)
Number of employees 1419 (March 31, 2012)
Major share holders
Nihon Keizai Shinbun 33.34%, Itoyama Eitarou 14.39%, Nihon Seimei
Life Insurance 5.02%
Major business areas TV,TeleviTokyo Productions,TeleviTokyo Music 100%

SATELLITE AND CABLETV
176

MSO - MULTIPLE SYSTEMS OPERATORS
179
-JupiterTelecom (J:Com)
-Japan Cable Net
-Media-T Communications

SATELLITE BROADCASTING
180

DIGITALTERRESTRIAL MOBILETV (ONE-SEG)
182
see: http://www.eurotechnology.com/store/mobiletv/

MOBILETV
183
-At least four types of mobileTV are, or were
experimentally in operation in Japan:
-Terrestrial digital mobileTV (“1-seg”)
started on April 1, 2006
-Conventional analog terrestrialTV (will be
terminated by July 24, 2011, however this
date could be postponed)
-StreamingTV broadcasts via the mobile
internet data interface (I-Mode, Ezweb,
etc)
-Satellite broadcasts to mobile phones by
“Mobaho” (terminated with end March
2009)
-MobileTV can be watched with a variety of
terminals, including mobile phones, laptops,
Nintendo DS and SONY-PSP portable game
terminals, etc
Internet
server
terrestrial digital TV
(started April 1, 2006)
analog TV
(ends July 24, 2011)
(c)EurotechnologyJapanKK
Nintendo
DS PC
mobile
phone
SONY PSP
PSP
satellite
Mobaho
streaming TV
via IP
“1-seg”
digital mobile TV
analog TV

MOBILETVTO MOBILE PHONES
184
-Four different methods of sendingTV signals
to mobile phones are in use today in Japan, or
have been tested experimentally:
-Terrestrial digitalTV broadcasting “1-
seg” (started ofﬁcially on April 1, 2006)
-Traditional terrestrial analogTV (will end
on July 24, 2011)
-Internet streaming via the mobile internet
data connection on 3G (FOMA/i-mode,
Ezweb)
-Satellite broadcasting (“Mobaho”,
terminates end March 2009)
-In addition, wCDMA (FOMA) also
provides a circuit-switched 64kbps digital
dial-up channel similar to video-telephony.
However, high video-telephony
communication charges per-minute apply
(about 20-30 US-cent/minute)
Internet
server
terrestrial digital TV
(started April 1, 2006)
analog TV
(ends July 24, 2011)
(c)EurotechnologyJapanKK
mobile
phone
satellite
streaming TV
via IP
“1-seg”
digital mobile TV
+ data broadcast
analog TV
“Mobaho”

ONE-SEG HANDSETS IN JAPAN
185
-This ﬁgures shows the cumulative number of mobile phones sold in Japan with mobile digital
terrestrialTV (“one-seg”).
-With the paradigm-shift to iPhones and Android-smartphones, one-set mobileTV has seen its
peak, and might be headed for extinction
total of mobile TV phones shipped in Japan
total number of mobile TV
phones shipped in Japan
sales started
October 2005
c2008EurotechnologyJapanKK
Jan 2005 Jan 2006 Jan 2007 Jan 2008 Jan 2009
0
10000000
20000000
30000000
40000000
50000000
60000000
totalmobileTVphonesshipped

RADIO
186

JAPAN’STELECOM INDUSTRY
191
see: http://www.eurotechnology.com/store/jcomm/

MANGA,ANIMATION AND CHARACTERS
192

HELLO KITTY MOBILE PHONES
196
-Licensed popular characters add special value
to merchandise.
-Softbank produced a series of mobile phones
with a variety characters: Snoopy phones,
Hello Kitty phones, Disney character phones
and many more

JAPAN’S MOVIE INDUSTRY
197

KARAOKE
199

KARAOKE BOXES
203
-“Karaoke Boxes” are small rooms for 3-12 people equipped with a video equipment for
Karaoke songs which are delivered online via network.
-The Karaoke Box market has decreased from US$ 6 billion to US$ 4 billion from 1998-2003.

INTEGRATION OF KARAOKE WITH MOBILE PHONES
204
-The karaoke equipment shown above has interfaces with mobile phones for payment,
exchange of photos, playlists, download of music and other types of interactions to personalize
the experience, and to use the mobile phone as a personal entertainment center

JAPAN’S GAME INDUSTRY
205
see: http://www.eurotechnology.com/store/jgames/

SUMMARY
206

SUMMARY: JAPAN’S MEDIA
207
-Japan is one of the world’s largest media markets
-Japan’s newspapers have the largest circulation in the world. Japan’s five
national newspapers have enormous power, and are the basis for the Japan’s
US$ 25 billion newspaper industry, which however is losing revenues to
internet and mobile media over the long term
-Japan’s five national newspapers are at the core of Japan’s five commercialTV
networks, the basis of Japan’s US$ 40 billionTV industry.
-Karaoke, Manga and Anime have been created in Japan, and are increasingly
exported.

CONTACT AND MORE INFORMATION
208
-Contact
-Gerhard Fasol PhD
-Eurotechnology Japan KK,Tokyo, Japan
-http://www.eurotechnology.com/
-Mobile +81-90-8594-6291
-fasol@eurotechnology.com
-gfasol@gmail.com
-More information:
-reports:http://www.eurotechnology.com/store/
-twitter: http://twitter.com/gfasol/
-website: http://www.eurotechnology.com/

Japan Media Industry Report Highlights Key Trends

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