2009 2009 12 Toward the Next Growth Stage ( 4817)
1 J:COMJ:COM 10 17 J:COM 25 28 J:COM TV 30 J:COM NET 31 J:COM PHONE 32 33 35 40 CSR 42 IR 43 78 79
2 3 4 6 8 9 Annual Report 2009 1
I. J:COM 327 * J:COM1995 5 327* * 2009 12 1 5 10 3 23 48 4 173 30 110 2009 12 2 Annual Report 2009
II. J:COM 36% 1,133 21% 50% 713 36% 259*2 * 2009 9 JSAT IPTV 2009 9 1,200 918 1,002 10 1,047 17 1,085 23 1,133 46 250 259* 200 857 2 900 1 360 366 371 374 150 324 342 600 100 300 532 574 632 664 691 713 50 77 0 2004 2005 2006 2007 2008 2009 9 CATV2009 12 JSAT JSAT IPTVIT 3 0 J:COM JCN 30 27 * 1 2009 12 16 14 11 10 9 Annual Report 2009 3
III. RGU 2009 12 5955 2.0 ARPU 2009 12 7,819 * 5 +696 J:COMM&A * 2009 RGU 400 600 595 300 327 500 400 200 300 100 200 100 0 04 05 06 07 08 09 0 04 05 06 07 08 09 ARPU 8,000 7,726 7,819* 2.0 1.82 7,500 1.8 7,000 1.6 6,500 1.4 0 04 05 06 07 08 09 09 0 04 05 06 07 08 09 * 2009 4 Annual Report 2009
2009 12 3,337 5 2.1 OCF 2009 12 43.3%5 +4.1 7 440 D/E* 0.5 * OCF *1 OCF *2 % 4,000 3,000 3,337 1,500 1,200 1,444 50 43.3 40 2,000 900 600 30 20 1,000 300 10 0 04 05 06 07 08 09 0 0 04 05 06 07 08 09 OCF OCF *1. OCF *2. OCF OCF/ 100 % * D/E 600 542 2,500 2.5 2,000 1,875 2.0 400 1,500 1.5 200 1,000 1.0 500 0.5 0.5 0 04 05 06 07 08 09 0 04 05 06 07 08 09 0 * D/E Annual Report 2009 5
IV. J:COM 3 2,40085 * * 2009 12 31 J:COM 6 Annual Report 2009
VOD146 25,000* 1 1 HDR * 2 *1 2010 3 *2 17IP P32 VOD J:COM 900 750 600 450 300 841 VOD J:COM 2010 43D 150 0 05 06 07 08 09 HDR 250 840 HDR HDR 50 40 49.5 500 DVD 1,260 30 HDR 20 10 0 06 07 08 09 500 DVD 2,625 * HDR HDR HDR / Annual Report 2009 7
V. 3 J:COM J:COM J:COM J:COM J:COM J:COM 8 Annual Report 2009
P4 2005 2006 2007 2008 2009 183,144 221,915 264,508 294,308 333,724 163,378 196,515 230,061 251,849 287,736 85,254 102,803 123,071 134,425 155,903 47,425 58,121 66,558 73,479 83,525 30,699 35,591 40,432 43,945 48,308 19,766 25,400 34,447 42,459 45,988 158,669 190,333 221,692 240,633 272,565 24,475 31,582 42,816 53,675 61,159 17,745 28,684 39,389 49,733 57,834 19,333 24,481 23,992 27,964 30,453 OCF * 1 70,023 85,957 107,178 122,751 144,430 54,277 65,903 65,281 62,395 69,418 516,457 625,948 680,416 755,670 801,657 251,445 277,296 330,009 349,352 374,902 185,127 242,075 223,016 252,964 251,894 149,844 221,588 200,126 231,462 187,468 60,763 80,003 95,226 100,692 123,626 (57,230) (121,601) (52,728) (76,357) (56,558) 21,330 26,801 (40,094) (25,722) (24,145) * 2 6,486 14,101 29,944 38,296 54,207 1 * 3 3,179 3,845 3,650 4,080 4,440 * 3 * 4 39,511 43,446 48,195 50,940 54,650 OCF % * 5 38.2 38.7 40.5 41.7 43.3 ROE % * 6 9.9 9.3 7.9 8.2 8.4 Debt-OCF * 7 2.1 2.6 1.9 1.9 1.3 Debt-Equity * 7 0.6 0.8 0.6 0.7 0.5 *1 OCF *2 *3 *4 *5 OCF OCF/ 100 % *6 ROE //2 100 % *7 Debt Annual Report 2009 9
11 12 13 14 16 10 Annual Report 2009
11 Annual Report 2009 J:COM J:COM 7 2009 12 13% 3,337 14% 612 9% 305 2002 12 7 2003 12 2.94.6 J:COM 2010 6
Q A J:COM 7 ARPU 3 1.07% RGU595 6% 1 1.77 1.82 HDR VOD 160 307,819 J SPORTS 2009 10 2008 12 2009 12 2,943 3,337 +13% 537 612 +14% 497 578 +16% 280 305 +9% OCF 1,228 1,444 +18% OCF 41.7% 43.3% +1.6pts 12 Annual Report 2009
Q A J:COM 20% 50 90% 2011 7 * 54 J:COM 4 * Annual Report 2009 13
Q A J:COM J:COM 20% CM2010 12 3 2010 12 14 Annual Report 2009
1 P13115 61 J:COM BS 2010 2 VOD VOD 3DVOD J:COM 40% 32 2010 1250 2 J:COM J:COM : Entertainment Media=The EntertainMedia Company J:COM Annual Report 2009 15
Q A 1 9802302010 12 220 1,200 600 600 2008 12 2 2 / 1,500 1,000 500 750* 980 1,200 2010 2KDDI KDDI 2 KDDI 4 KDDI 6 10 KDDI 3 0 2008 2009 2010 * 500250 16 Annual Report 2009
J:COM 18 1 21 2 23 3 Annual Report 2009 17
1 CM J:COM J:COM * Innovators Early Adopters Early Majority Late Majority Laggards J:COM 2.5% 13.5% 34.0% 34.0% 16.0% * M Innovators Early Adopters Early Majority Late Majority Laggards Innovators Early Adopters Early Majority Late Majority 20%Early Majority 2,400 J:COM Early Majority 18 Annual Report 2009
1 10 5 2 J:COM 3585 2010 12 9 3 J:COMJ:COM 2009 CMCMJ:COM Annual Report 2009 19
J:COM CM 2 CM 2010 J:COM 3 J:COM J:COM CM CM J:COM J:COM ARPU 20 Annual Report 2009
2 1 J:COM J:COM TV J:COM OK 2011 7 2009 9 98.0% 69.5% *1 *2 J:COM 2010 2 BS *1. 2009 11 6 *2. Annual Report 2009 21
115 54 115 54J:COM 4 2010 12 61 J:COM 61 54 2009 12 J:COM 2011 7 4 RGU J:COM J:COM 22 Annual Report 2009
特集 当社の成長戦略 戦略その 3 デジタルサービスのさらなる拡充 J:COMではこれまで 視聴者のニーズに応えるべく HDR VODサービス ハイビジョンチャンネルな ど先進的なデジタルサービスをいち早く提供してきました これからも先進的なサービスをより多くのお 客さまに提供し ケーブルテレビ事業におけるJ:COMの優位性をさらに磐石なものとしていきます 新たに投入したデジタルサービス VODサービス 3Dコンテンツ 見逃し視聴 サービス 2009年に導入した5チャンネル ハイビジョン番組 * 現ユニバーサル チャンネル 地上デジタル放送 関東エリアでの放送チャンネル BSデジタル放送 ケーブルデジタル放送 2009年に導入した10チャンネル HDR ブルーレイHDR 詳細解説 さらに便利で画期的なサービスを投入 146万世帯に対して 業界最大級の約25,000タイトルを配信するVODサービス J:COM オン デマン ド では 好きな番組を好きな時間に見たいという視聴者のニーズにいち早く応えてきました 今後 さらに利便性が高く 画期的なサービスを投入します 例えば テレビ放送で見逃した番組を VODですぐに視聴できる 見逃し視聴 サービスでは 当期 海外ドラマ エンターテイメント専門の FOX ON に フジテレビ On Demand や テレ朝動画 DEMAND を含む5チャンネルを投入し 累計で6チャンネルにまで拡大しました 2010年12月期に は この見逃し視聴サービスをさらに拡大するとともに 放送前の番組を配信する プレビューサービ ス を提供します さらに 日本で初となる3D 3次元 コンテンツをVODで配信するサービスを 2010年4月から開始しました この3Dコンテンツは 大手電機メーカーが製造 販売する3Dテレビに 対応しており 専用のメガネを使うことで 家庭にいながら3D映像が楽しめます また ハイビジョン 番組とすることで 2Dと同等の高画質 高音質を3Dでも実現している J:COMならではの画期的な サービスです このほか 見る 録る が1 台で可能なHDRでは 2010 年 1 月よりブルーレイディスクドライブを 搭載した ブルーレイHDR の提供を開始しています Annual Report 2009 23
32 2010 1250 J SPORTS 3,7004,300 J SPORTS J:COM VOD J:COM DVD 2005 15 25,000 J:COM HBO ROME VOD J:COM8 THIS IS IT 4VOD J:COM VOD THIS IS IT 2010 3 136 12 2009 The Michael Jackson Company, LLC. All Rights Reserved. 2009 Columbia Pictures Industries, Inc. All Rights Reserved. 24 Annual Report 2009
26 28 28 J:COM TV 30 J:COM NET 31 J:COM PHONE 32 33 Annual Report 2009 25
1 214 7816%1,559 3 54 59 160 19 * 35 2,3003%1,259 3,800 4 1,6002% 259 8,600 J:COM TV 35 1,40018%234 8,400 78% 90% 100% VOD * J:COM ARPU ARPU 111 2%5,471 53% VOD HDR VOD 16625%84130 HDR 9 300 22%49 5,100 0.1 1.1% 2 100 4614%835 25 59 56 40 90 35 2,3003%1,259 3,800 9 8,1007% 158 4,900 160 1 160 7 6,20071% 18 3,900 3 26 Annual Report 2009
ARPU ARPU 149 3%4,454 57 1%4,546 160 1.2% 3 43 63 10%483 8 29 28 14 35 74 6007%1,213 3,800 19 3,30012%176 3,100 ARPU ARPU 179 7% 2,366 164 6%2,381 0.1 0.8% J:COM TV % % % 1,600 300 100 250 100 2.0 1,200 75 200 80 1.5 200 150 60 800 50 1.0 100 40 100 400 25 50 20 0.5 0 05 06 07 0 0 08 09 05 06 07 08 09 05 06 07 08 09 0 05 06 07 0 0 08 09 05 06 07 08 09 1 2 3 * * Annual Report 2009 27
J:COM TV * J:COM 23% 63% 36% * CATV JSATIPTV P3 J:COM TV J:COM TV J:COM 3D VOD 3DHDR DVDHDR HDR KN V VOD 5 VOD 3D J:COM J:COM TV J:COM TV J:COM TV HDR 6732 J:COM TV HDR J:COM TV 28 Annual Report 2009
6 2,400 85 J:COM BS NHK Getty Images 1986 Columbia Pictures Industries, Inc. All Rights Reserved. 2010 5 2010 5 15 2010 7 2010 5 10 / MTV MTV VIDEO MUSIC AWARDS JAPAN 2009 BLACK EYED PEAS, MTV VIDEO MUSIC AWARDS JAPAN 2009, MTV JAPAN FOX 24 2008-2009 Twentieth Century Fox Film Corporation Annual Report 2009 29
J:COM NET * CATV CATV 2009 12 14% J:COM CATV 37% * 2009 12 J:COM NET J:COM NET J:COM NET 160 401214 160308 12 ADSL J:COM TV J:COM NET J:COM NET 160M 160Mbps * 10Mbps * J:COM NET 40M 40Mbps * 2Mbps * J:COM NET 12M 12Mbps * 2Mbps * J:COM NET 1M 1Mbps * 512Kbps * * 30 Annual Report 2009
J:COM PHONE * 10,500 IP2008 121,9592009 122,231J:COM PHONE IP 2008 12582009 1285 * 2009 12 J:COM PHONE J:COM PHONE IP 110 119 IP IP IP Internet Protocol IP2 IP IP IP J:COM PHONE 50 Annual Report 2009 31
J:COMMCO 17 IP J SPORTS CNBC Must-watch 200 No.1No.1 CS 1 TV 8,182,300 09/9 LaLa TV TV *1 783 651 388 719 100.0% 100.0% 90.00% 89.41% 2 8,165,796 09/9 3 8,022,927 09/10 4 J sports ESPN 1 2 Plus* 7,885,000 09/11 5 7,834,457 09/11 6 TV 7,625,300 09/9 7 CNBC 7,426,067 10/1/1 J SPORTS *2 *1 789 308 697 573 80.5% 76.0% 50.0% 33.3% 8 MTV 7,402,700 09/11 9 NECO 7,360,129 09/11 10 7,180,200 09/10/1 11 7,112,043 09/11 AXN *1 656 805 647 673 35.0% 15.0% 9.99% 9.99% 13 6,967,644 09/11 19 6,701,118 09/10 20 AXN 6,565,970 09/11 22 LaLa TV 6,511,706 09/11 CNBC X *1 743 10 9.75% 12.28% *1. 2009 11 *2. J SPORTSJ sports ESPN J sports 1 J sports 2 J sports Plus 23 6,382,144 09/10 25 5,726,818 09/11 J:COM * J sports ESPN 1 2 Plus4 : B-maga 2010 1 32 Annual Report 2009
J:COM 327 J:COM : 850 J:COM :146 TV: 170 J:COM Magazine: 210 J:COM J:COM TV J:COM J:COMJ:COM 11 J:COM 48 3 2009 2010 4 J:COM J:COM J:COM TV Annual Report 2009 33
34 Annual Report 2009 J:COM + J:COM J:COM 3 1 2 3 24 365 FTTH 1 1 1 1 1 J:COM J:COM NET160 FTTH 100 J:COM 200990% 100% VOD 3D J:COM
36 / 38 39 Annual Report 2009 35
36 Annual Report 2009 2010 4 1 611 1 231 2006 12 P74 P112 12 2 1 Liberty Global, Inc. 2006 US-SOX J-SOX2009 /
37 Annual Report 2009 * JIPDEC 24 * 2010 4 1
2010 4 1 TV TV 38 Annual Report 2009
39 Annual Report 2009 2010 6 1 TV
CSR J:COM J:COM CSR J:COM J:COM CSRJ:COM 9J:COM 2009 J:COM 2006 5 J:COM 2009640 860 9,400 J:COM 48 850 * J:COM * J:COM J:COM 220099 9 40 Annual Report 2009
CSR J:COM482,400 J:COM J:COM J:COM J:COM 2008 CLEAN UP OUR TOWN 2009 9 6J:COM1 2,000 62 9.1 J:COM J:COM 2009 29 24 J:COM CO2 J:COMCO2 250 J:COM J:COM 20095 J:COM Annual Report 2009 41
IR J:COM IR IR J:COM 2 IR J:COM IR J:COM IR IR 2008 11 2009 4 2009 10 IR IR IR 2009 1. IR http://www.jcom.co.jp/ir.html IRJ:COM J:COM IR 2. IR J:COM IR 42 Annual Report 2009
44 54 56 56 57 58 59 77 Annual Report 2009 43
2009 12 31 2009 1. MSO 2009 12 31 330 2009 12 31 23 2007 9 1 TV 2009 12 31 20-50% 2008 2009 12 31 2008 2009 25 23 6 8 5 3 36 34 1 1 6 5 2 3 9 9 45 43 21 3 21 750MHz 2009 12 31 2 2010 PPV VOD 44 Annual Report 2009
50 LaLa TV J sports 1J sports 2J sports ESPN / BS 80 VOD PPV HDR DVD 500GB HDR 1 BS CS VOD PPV 850 4 1Mbps 160Mbps 1 IP 3 PHSJ:COM MOBILE J:COM MOBILE RGU 2007 9 1 TV TV Annual Report 2009 45
5 FTTH Fiber To The HomeADSL 4 LaLa TV TV AXN 2009 122,301 670 610 HD 260 JSAT SKYPerfecTV! FTTH ADSL 41% 1995 100% 2005 46 Annual Report 2009
1 3 2. 2008 2009 251,849 86% 287,736 86% 35,887 14% 42,459 14% 45,988 14% 3,529 8% 294,308 100% 333,724 100% 39,416 13% (112,099) (38%) (123,050) (37%) (10,951) (10%) (59,514) (20%) (66,341) (20%) (6,827) (11%) (69,020) (24%) (83,174) (25%) (14,154) (21%) (240,633) (82%) (272,565) (82%) (31,932) (13%) 53,675 18% 61,159 18% 7,484 14% (4,719) (1%) (5,172) (2%) (453) (10%) 600 599 (1) 177 1,248 1,071 49,733 17% 57,834 17% 8,101 16% (19,476) (7%) (24,579) (7%) (5,103) (26%) 30,257 10% 33,255 10% 2,998 10% (2,293) (1%) (2,802) (1%) (509) (22%) 27,964 10% 30,453 9% 2,489 9% 1% 12 31 2008 2009 12,241,500 12,593,800 352,300 3% 12,241,500 12,593,800 352,300 3% 11,393,200 12,133,800 740,600 7% 2,557,000 2,598,600 41,600 2% 1,486,800 1,584,900 98,100 7% 1,569,800 1,763,100 193,300 12% RGU 5,613,600 5,946,600 333,000 6% RGU 954,300 1,073,920 119,620 13% 3,167,400 3,274,800 107,400 3% RGU 1.77 1.82 0.05 3% 1 7,789 7,726 (63) 1% 1 Annual Report 2009 47
3 2008 112 2008 2 2008 8 9 21 2008 12 2008 12 2009 4 2008 12 2009 10 2008 294,308 2009 333,724 39,41613% 24,420 14,996 5% 251,849 35,887 14%287,736 21,544 14,343 6% 4% 134,425 21,478 16%155,903 90% 78% ARPU 8% 73,479 10,046 14%83,525 ARPU 7% 43,945 4,363 10%48,308 42,459 3,529 8%45,988 653 112,099 10,951 10%123,050 8,323 59,514 6,827 11%66,341 6,817 69,020 14,154 21%83,174 53,675 7,484 14%61,159 4,719 453 10%5,172 600 1 599 177 1,071 605%1,248 49,733 8,101 16%57,834 19,476 5,103 26%24,579 30,257 2,998 10%33,255 2,293 509 22%2,802 48 Annual Report 2009
27,964 2,489 9%30,453 3,167,4003,274,800 RGU1.77 1.82 7,789 63 7,726 307,819 1.0% 1.2% 0.7% 1.1% 1.2% 0.8% 3. 24,145 25,722 1,577 6% 20,413 2009 12 31 10,9275,076 63,7882009 12 31 10,000 160 14,503 11,543 2,353 50,557 110 123,626 56,558 24,145 123,626 100,692 22,934 23% 56,558 76,357 19,799 26% 51,774 5,286 62,395 7,023 11%69,418 21% 2009 12 31 Annual Report 2009 49
2010 2011 2012 2013 2014 2015 7,618 7,618 180,488 12,353 19,247 15,602 69,882 50,418 12,986 63,788 19,559 15,664 12,109 8,159 4,600 3,697 1,496 703 352 156 111 75 99 22,758 7,241 4,489 3,019 2,410 2,443 3,156 276,148 47,474 39,752 30,886 80,562 57,536 19,938 11,644 3,821 3,151 2,441 1,444 505 282 2009 12 31 2009 12 31 65% 122,102 50%61,500 LIBOR TIBOR 1% 606 4. 2 2008 12 312009 12 31 88% 84% ASC350 - SFAS 142 SFAS 144 ASC350 -SFAS 142 2 1 2 50 Annual Report 2009
51 Annual Report 2009 20082009 ASC922 SFAS 51 1 2 3 11 5. 2 (t)
52 Annual Report 2009 J:COM 2010 3 25 J:COM 24 NTT
53 Annual Report 2009 2007 12 62011
12 31 2008 2009 21,503 64,426 14,838 16,507 (396) (475) 11 11,429 10,577 10 7,250 7,480 54,624 98,515 4 6 13,363 9,122 2,141 2,143 15,504 11,265 6 8 3,056 3,924 620,017 676,853 45,580 54,389 668,653 735,166 (284,919) (357,161) 383,734 378,005 3 5 246,196 248,094 5 38,159 46,029 11 4,137 4,566 13,316 15,183 301,808 313,872 755,670 801,657 54 Annual Report 2009
2008 2009 7 6,092 7,618 17 9 12,453 12,353 16 8 15,355 16,620 3,108 2,939 21,298 25,616 9,907 11,323 6 4,124 5,133 12 7,314 8,383 10 10,059 11,384 89,710 101,369 1 7 9 170,488 158,135 7 9 10,000 1 6 8 38,705 38,520 6,763 5,709 2 66,537 60,048 11 11,827 15,034 2,10,11 12 13,353 23,251 397,383 412,066 15 13 117,162 117,242 (15,000,000) (15,000,000) (6,938,107.00) (6,940,110.00) 226,388 226,553 14,457 39,834 (7,520) (7,520) (1,135) (1,207) 349,352 374,902 8,935 14,689 358,287 389,591 755,670 801,657 Annual Report 2009 55
12 31 2008 2009 251,849 287,736 2 6 42,459 45,988 294,308 333,724 2 6 13 (112,099) (123,050) 2 6 13 (59,514) (66,341) 2 5 (69,020) (83,174) (240,633) (272,565) 53,675 61,159 6 (1,479) (1,693) (3,240) (3,479) 2 4 600 599 177 1,248 49,733 57,834 11 (19,476) (24,579) 30,257 33,255 (2,293) (2,802) 27,964 30,453 1 4,080 4,440 4,076 4,439 6,854,535 6,859,388 6,860,334 6,860,910 12 31 2008 2009 30,257 33,255 2 (808) (538) 292 463 (516) (75) 29,741 33,180 (2,293) (2,799) 27,448 30,381 56 Annual Report 2009
12 31 2008 2009 116,734 117,162 1 80,0001,99010,7051 11345 428 80 117,162 117,242 231,493 226,388 1 80,0001,99010,7051 11345 428 80 2 13 55 67 3 (5,588) (0) 18 226,388 226,553 (10,079) 14,457 27,964 30,453 (3,428) (5,076) 14,457 39,834 (619) (1,135) (516) (72) (1,135) (1,207) (7,520) (7,520) 0 (7,520) (7,520) 5,399 8,935 1,281 3,215 2,293 2,802 (38) (260) (3) 8,935 14,689 358,287 389,591 Annual Report 2009 57
12 31 2008 2009 30,257 33,255 69,020 83,174 (600) (599) 55 67 2,772 588 (135) (798) 96 (120) (1,273) 2,368 (2,339) (2,054) (3,418) 383 7,247 9,493 (990) (2,131) 100,692 123,626 (46,972) (51,774) 3 (27,700) (5,286) 3 (1,710) 25 502 (76,357) (56,558) 856 160 3 (242) (294) 1,526 7 55,284 30,000 7 10,000 7 (62,438) (42,453) 8 (17,105) (20,413) (3,428) (5,076) 1,403 2,353 (25,722) (24,145) (1,387) 42,923 22,890 21,503 21,503 64,426 58 Annual Report 2009
1. 1934 12g3-2(b) 2009 6 Financial Accounting Standards BoardFASB 2 Statement of Financial Accounting StandardsSFAS ASC805SFAS 141 168 SFAS 141 SFAS 162 ASC350 SFAS 142 Opinions of the Accounting Principles BoardAPB FASB SFAS SFAS 168 Accounting Standards Codification 3 ASC 105 ASC740 SFAS 109 ASC740 FASB FASB InterpretationFIN 48 1 SFAS 109 ASC922 SFAS 51 4 ASC410FIN 47 SFAS 143 5 ASC810 SFAS 160 2. 2005 2 18 Liberty Media International Inc. LMI Super Media 100%Super Media 2 LMI LMI6 16 Liberty Global Inc.LGI LMI NASDAQ LGI LGILMI 2010 2 18 2007 9 1 TV Annual Report 2009 59
DTH Direct-to-homeFTTH Fiber To The Home ADSL 2008 12 25 2009 43 (a) 2008 2009 (b) 3 14 (c) (d) 20% 50% 20% (e) ASC815 SFAS 133 SFAS 138 SFAS 133 ASC815 60 Annual Report 2009
3 2008 2009 12 31 984880 2010 12 2008 2009 12 31 1,5072,1902013 11 2011 92014 4 61,500 TIBORLIBOR (f) 1 (g) 1017 1540 515 220 ASC922 SFAS 51 5 2008 2009 1,9952,036 ASC410FIN 47 SFAS 143 2008 2009 2,0594,933 (h) Annual Report 2009 61
10 1 2008 2009 (i) (j) 7 (k) ASC740 FIN48 SFAS 109 (l) 2006 ASC715 - SFAS 158 12 (m) 1 20 2008 20095,9848,857 5,3666,192 65,54658,911 6 (n) 2008 2009 4,0644,923 (o) (p) 62 Annual Report 2009
2008 12 312009 12 31 2008 0.64% 32.51%0.96% 4 2009 1.11% 1.30% 38.81% 39.38% 0.68% 1.42% 410 (q) 1 1 EPS ASC260 1 SFAS 128 1 ASC260 EPS EPS 2008 2009 1 2008 2009 27,964 30,453 6,854,535 6,859,388 5,799 1,522 6,860,334 6,860,910 1 4,080 4,440 4,076 4,439 (r) ASC280SFAS 131 ASC280 ASC810 2008 12 15 2009 2007 12 FASB ASC805SFAS 141 (s) 100% ASC805 ASC805 2008 12 15 2009 (t) 2008 4 FASB ASC350 2007 12 FASB ASC810 SFAS 160 FASB FASB Staff PositionFSP ASC810 142-3 Annual Report 2009 63
ASC350SFAS 142 SFAS 142 SFAS 141 ASC350 ASC350 2008 12 15 2009 2008 9 EITF(FASB Emerging Issues Task Force EITF) ASC323 EITF08-06 ASC323 SFAS 160 SFAS 141 1 2 3 4 ASC323 2008 12 15 2009 2008 5 FASB SFAS 162 2009 9 SFAS 162 SFAS 168 SFAS 162FASB 12009 9 16 2009 7SFAS 168 ASC105 2009 5 FASB ASC 855 SFAS 165 2009 2 2008 12 FASB ASC715-FSP 132 (R)-1 2009 12 16 2009 12 2009 6 FASB ASC860 SFAS 166-SFAS 140 2010 2009 6 FASB ASC810 SFAS 167 FIN 46 FIN 46 2010 2009 8ASCAccounting Standards Update ASU 2009-05 Level 1 2010 2009 10 FASB ASU2009-13 2010 6 15 (u) 64 Annual Report 2009
3. 2008 2009 2008 2009 2008 12 25 3 68,275 28,351 ASC805SFAS 141 LGI Liberty Japan MC, LLCLMC LMC 1 15,4632 LMC 12,888 3 243 LMC12,888 LMC 5,588 2008 12 31 2009 2009 2008 12 25 11,493 307 27,642 17,802 4,172 (26,398) (12,012) 5,588 28,594 28,351 243 28,594 2009 4 2008 2008 2008 1 1 2008 2008 310,452 27,480 1 4,009 4,006 Annual Report 2009 65
20082009 1 2008 1 46.6% 99.2% 2 2008 2 3 2008 8 45.0% 63.5%4 2008 12 97.9% 5 2009 10 33.4% 80.5% 4. 2009 12 31 50.00% 50.00% 50.00% AXN 35.00% 33.33% 32.50% 32.22% 26.95% 20.00% 2008 2009 12 31 6,0024,779 17 20082009 2008 2009 4,629 4,316 26,702 19,338 31,331 23,654 1,820 1,441 16,217 13,581 13,294 8,632 31,331 23,654 2008 2009 52,333 45,187 (45,350) (40,585) (3,104) (1,606) 3,879 2,996 (139) (105) (1,561) (1,269) 2,179 1,622 66 Annual Report 2009
5. 2008 2009 2008 2009 221,493 246,196 25,507 1,898 (804) 246,196 248,094 1017 ASC350 SFAS 144 ASC350 SFAS 1422008 2009 12 31 - - 2008 2009 29,775 (6,026) 23,749 29,392 (8,996) 20,396 15,333 (1,163) 14,170 27,641 (2,248) 25,393 240 240 240 240 45,348 (7,189) 38,159 57,273 (11,244) 46,029 2008 20093,3344,055 2009 12 31 5 2010 4,598 2011 4,598 2012 4,598 2013 4,598 2014 4,583 2015 22,814 45,789 6. 2008 2009 2008 2009 a 12,755 9,065 b 13,824 12,793 c 3,359 3,136 d 1,479 1,693 e 14,822 16,736 Annual Report 2009 67
a b 2 c LGI d e 2008 2009 12 31 54,06055,140 2008 2009 12 31 4,1245,133 7. 2008 2009 2008 2009 2008 1.11-1.98% 2009 0.67-1.98% 6,092 7,618 2010 39,969 8,985 2011-2016 125,000 147,000 2010-20190% 14,343 11,543 2010-20180.65% 4.65% 3,629 2,960 189,033 178,106 1 (18,545) (19,971) 1 170,488 158,135 20141.51% 10,000 1,550 2005 121,550 5300 5850A 7400B 1,550 A B A TIBOR 2009 12 31 A 0.85% A 2010 12 312006 3 313 2010 12 31 1 0.20% EBITDA 2008 12 220 2009 3 2009 12 31300 2006 35400 B400 200 2009 12 312.08% LIBOR 0.30% 0.84% 68 Annual Report 2009
2005 12 2013 2006 9 207 200 300 20200 9 300 2006 10 27140 2011201320 2009 12 31TIBOR 0.25% 0.9% 200 100 1.72% 100 1.90% 300 1002011 10 LIBOR 0.25%195 2013 10 LIBOR 0.35%52013 102.05% 2007 9 28100 2012 9 14TIBOR 0.35% 2008 12 80 2009 3 2009 12 31100 0.10% 2008 3 31 2008 4 16 250 2005 A 2008 TIBOR 0.20% 2014 4 16 2009 3 2008 300 50 2012 3 TIBOR 0.43% 100 2015 3 TIBOR 0.6% 100 2014 3 TIBOR 0.65%40 2014 3 TIBOR 0.45%10 2016 31.85% 2009 7 2 2014 6 30 1.51% 2005 2009 12 31 76,919 2009 12 31 2010 12,353 2011 19,247 2012 15,602 2013 69,882 2014 50,418 2015 12,986 180,488 Annual Report 2009 69
8. 20 6 2008 2009 12 31 2008 2009 91,465 109,800 6,356 6,832 (39,365) (54,794) 58,456 61,838 2009 12 31 2010 21,356 703 2011 16,927 352 2012 12,911 156 2013 8,596 111 2014 4,807 75 2015 3,931 99 68,528 1,496 0.1% 12.4% (4,740) 63,788 1 (19,559) 44,229 2008 2009 5,9976,337 2008 2009 13,882 15,411 9. 10 10. 2006 9 FASB ASC820 SFAS 157 ASC820 2008 2009 ASC820 SFAS 157 70 Annual Report 2009
1 33 1 2 1 3 e 2 2 2008 2009 12 31 2008 2009 1 2 3 1 2 3 8 41 8 41 1,995 2,162 1,995 2,162 11. 2008 2009 2008 2009 16,704 23,991 2,772 588 19,476 24,579 2008 2009 2008 2009 40.7% 40.7% (1.6) 0 1.4 0.1 0.4 39.2% 42.5% Annual Report 2009 71
2008 2009 12 31 2008 2009 25,898 14,467 23,752 22,146 5,377 5,773 4,353 2,335 1,686 3,949 61,066 48,670 (1,991) (971) 59,075 47,699 35,801 25,693 15,798 18,978 2,975 2,155 762 764 55,336 47,590 3,739 109 20081,991 1,020 2009971 2009 12 31 5,740 2010 1,316 2011 208 2012 727 2013 935 2014 555 2015 1,999 5,740 2009 12 31 ASC740 FIN 48 2003 2009 12 31 2010 2009 508-450 2,160 2009 2009 1 1 16,458 3,321 (3,321) 2009 12 31 16,458 72 Annual Report 2009
12. 2005 10 1 2005 9 30 2008 2009 528609 2 3 2009 12 31 ASC715-SFAS 872008 2009 2008 2009 11 12 1 2 (1) 14 11 28 ASC715-SFAS 87 2008 2009 54 63 11 12 1 2 (1) 14 (2) 63 91 2008 2009 2008 2009 2.0% 2.0% 2.0% 2.0% ASC715-SFAS 87 2006 12 31ASC715-SFAS 158 2005 2008 2009 1,0731,342 Annual Report 2009 73
13. 2 2009 12 31 19,739 10% 25% 20012010 8 23 20022004 2012 8 23 2006 20072008 2026 3 31 2027 4 30 2016 7 31 2009 2017 4 30 2029 3 31 2009 12 31 2009 92,590 79,340 1,177 1 (7,748) 80,000 (2,003) 79,481 84,016 78,164 1.89 1,179 82,088 80,000 1.66 1,001 2008 2009 7 48 67 14. 2008 2009 4,267 4,721 11,399 18,329 : 15,423 17,644 74 Annual Report 2009
15. 3 15 2009 12 31 2009 12 31 2010 7,241 2011 4,488 2012 3,019 2013 2,410 2014 2,443 2015 3,157 22,758 16. 1 2 2010 2 18LGI Liberty Global, Inc 2010 2 19KDDILGI/ Sumisho Super Media, LPLiberty Japan, Inc. LGI/Sumisho Super Liberty Jupiter, Inc Media, LP/ 1 Liberty 1 Global Japan, LLC. LGI/Sumisho Super Media, LP 2 3 1,648,402 23.87% 2 30.89% 3 KDDI 1 Liberty Jupiter, Inc Liberty Jupiter, LLC. 2010 2 26 Liberty Global, Inc. KDDI International Holdings 3, LLC KDDI LGI/Sumisho Super Media, LP 1 3 Liberty Japan, Inc. 3 2 Liberty Global Japan, LLC. 2010 2 26 LGJ Holdings LLC KDDI International Holdings, LLC KDDI Liberty Global Japan, LLC Liberty Media International Holdings, LLC 3 6,907,178 Liberty Programming Australia, Inc. LGI International, Inc. 3 1 LGI/Sumisho Super Media, LP 2010 2 18 2010 3 2 Super Media Japan, LP 2010 2 26 KDDI Global Media, LP KDDI 2 6,907,178 3 Liberty Japan, Inc. 2010 2 18 Liberty Japan, LLC. 2010 2 26 KDDI International Holdings 2, LLC KDDI 2 Annual Report 2009 75
(a) KDDI 3 1919 12 24 3 1 8 11 219,2782009 9 30 KDDI 3 2009 9 30 6.64% 5.96% LIBERTY PROGRAMMING JAPAN, INC. 3.65% 2.66% 2.47% 9 2.23% 4 1.84% 1.54% 1.32% KDDI 1.27% 1,902,078 27.54% 3 (c) 1 6,907,178 (b) 2010 2 15 (i) (ii) (iii) (iv) 2010 2 19 KDDIKDDILiberty Global, Inc. 3 31.1% 2010 3 32010 4 14 30 1 139,500 875,834 459,147 875,834 1459,147 2875,834 27 13 532 3 4 2010 4 21 (d) 76 Annual Report 2009
20082009 12 31 2009 12 31 2 20082009 12 312009 12 31 2 1. 2010 2 18LGI/Sumisho Super Media, LP Liberty Global, Inc. 7 2. 2010 2 19 KDDI Liberty Japan, LLC Liberty Jupiter, LLC Liberty Global Japan II, LLC KDDI 3. 2010 3 2 2010 3 25 Annual Report 2009 77
2009 12 31 % 23 15,500 91.06 15,057 100.00 8,800 86.30 7,524 95.80 5,772 82.57 4,326 88.08 3,395 74.50 3,200 74.78 3,000 100.00 3,000 99.66 2,900 79.98 2,880 100.00 2,447 86.70 2,105 92.39 1,920 97.91 1,845 83.06 1,828 95.51 1,600 86.42 1,560 96.15 1,500 70.33 1,500 91.42 1,081 100.00 1,000 63.41 1 1,000 20.00 5 3,834 80.49 1,788 100.00 1,700 89.41 300 90.00 200 76.00 3 2,545 50.00 41 33.33 AXN 10 35.00 2 J-Sports, LLC 2,609 100.00 3 100.00 1 25 64.00 2 100 32.50 60 50.00 1 93 32.22 1 480 76.50 1 3 100.00 1 490 100.00 1 2,250 26.95 1 100 50.00 78 Annual Report 2009
(2009 年 12 月 31 日 現 在 ) 100-0005 1-8-1 N 1995 1 18 1,172 10,988 * J COM 6,940,110 10,323 4817 5 33 3 1 2009 12 31 / *2 3,987,238 57.45 *3 253,676 3.66, *4 JP 253,675 3.66 153,780 2.22 143,537 2.07 137,053 1.97 109,310 1.58 93,901 1.35 78,151 1.13 74,240 1.07 *1. 80,0001.15 *2. / 2010 2 182010 2 26 KDDI 2010 2 18 1,648,402305,810 / 2,033,026 29.29 *3. 2010 2 18/ 1,648,402 1,902,078 27.402010 4 21 875,8342,777,912 39.98 *4., 2010 2 26 KDDI2010 2 18152,904 100,771 1.45 Annual Report 2009 79
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