SKY Perfect JSAT operates Japan's largest pay-TV platform (SKY PerfecTV!) alongside a satellite fleet it leases to broadcasters and government and enterprise users across Asia and the Pacific, so its revenue is tied to both subscriber trends and transponder demand. The moat is physical: orbital slots and frequency rights are scarce, and the company's satellite capacity cannot be replicated quickly or cheaply. Its 32.6% operating margin and 50.0% gross margin are high for a broadcaster, and revenue growth of 12.0% is well above what a mature Japanese pay-TV business would normally deliver. The question for a PM is whether that growth is durable or reflects a one-off mix shift, and whether a forward P/E of 26.7 (above the trailing 23.2, implying earnings are expected to dip) is justified by the satellite and streaming pipeline. Worth a deeper look if the fleet renewal and satellite utilisation data support the growth rate; the 8.8% ROE suggests capital intensity is absorbing much of the operating profit.
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ETFs we cover that hold SKY Perfect JSAT Corporation among their largest holdings, by weight.
| Date | Type | New | Previous | Price |
|---|---|---|---|---|
| 23 Oct 2026, 01:52 CEST | ACCE price target | ¥1900 | first publication | ¥1866 |
Answered from SKY Perfect JSAT Corporation fundamentals + recent valuations. Every number shows its source and date.
| Company | Price | Fair value | vs fair value | P/E | ROE | Quality | Score |
|---|---|---|---|---|---|---|---|
| 9412.T SKY Perfect JSAT Corporation | ¥1865.00 | - | - | 23.2x | 8.8% | 78 | 60 |
| ITV.L ITV plc | £0.64 | £1 | 32% below | 10.7x | 13.5% | 56 | 56 |
| 4676.T Fuji Media Holdings, Inc. | ¥4196.00 | - | - | 42.9x | 2.4% | 42 | 57 |
| 9404.T Nippon Television Holdings, Inc. | ¥3102.00 | - | - | 11.9x | 6.5% | 66 | 58 |
| NXST Nexstar Media Group Inc. Common Stock | $167.34 | $244 | 31% below | 31.2x | 7.4% | 50 | 63 |
| RRTL.DE RTL Group S.A. | €31.40 | - | - | 51.5x | 2.7% | 61 | 57 |
| 9401.T TBS Holdings,Inc. | ¥6109.00 | - | - | 19.4x | 3.7% | 54 | 48 |
Where 9412.T ranks against its sector peers on each metric.