NHK Reports Third Consecutive Deficit in Fiscal 2025, Receiving Fee Revenue Down for Seventh Consecutive Year

Japan's public broadcaster NHK announced its fiscal 2025 financial results on June 23, 2026, reporting a deficit of 31.8 billion yen. While this marks the third consecutive year of losses, the deficit narrowed significantly by 13 billion yen compared to the previous fiscal year. The improvement was driven primarily by strengthened collection efforts targeting households delinquent on receiving fees for more than one year, as well as reduced expenditures following the prior year's radio facility decommissioning costs.

Receiving fee revenue declined 0.9 percent to 585.1 billion yen, extending a seven-year streak of consecutive revenue decreases. The total decline of 5 billion yen represented a dramatic reduction from the previous year's loss of 42.6 billion yen, reflecting the effectiveness of enhanced collection measures. The decline in revenue was driven by a continuing reduction in subscriber contracts, which fell to 4.033 million at the end of fiscal 2025 from a peak of 4.212 million at the end of fiscal 2019.

Despite the receiving fee decline, NHK's overall business revenue increased 0.1 percent to 613 billion yen, marking the first year-on-year growth in six years. Business expenditures fell 1.9 percent to 644.9 billion yen. To cover the operating deficit, NHK drew down its reserve fund designated for subscriber benefits. The household payment rate declined 0.4 percentage points to 76.9 percent in fiscal 2025, with 34 of Japan's 47 prefectures recording year-on-year decreases. Regional variations were substantial, with Akita prefecture showing the highest payment rate at 96.5 percent and Okinawa the lowest at 46.3 percent.

Looking ahead, NHK's management plan for fiscal 2024–2026 targets approximately 10 billion yen in staged business expenditure reductions through fiscal 2027 to achieve financial balance. NHK stated it is progressing steadily toward operational equilibrium through appropriate and efficient management. However, the management committee chair acknowledged that while rising costs from inflation might normally warrant fee increases, the current circumstances make such adjustments politically difficult.