diff --git a/stratosphere/ncm/source/ncm_contentstorage.cpp b/stratosphere/ncm/source/ncm_contentstorage.cpp
index cf399c4a1..40734f2ab 100644
--- a/stratosphere/ncm/source/ncm_contentstorage.cpp
+++ b/stratosphere/ncm/source/ncm_contentstorage.cpp
@@ -127,8 +127,9 @@ namespace sts::ncm {
     }
 
     Result ContentStorageInterface::HasPlaceHolder(Out<bool> out, PlaceHolderId placeholder_id) {
-        if (this->disabled)
+        if (this->disabled) {
             return ResultNcmInvalidContentStorage;
+        }
 
         char placeholder_path[FS_MAX_PATH] = {0};
         this->placeholder_accessor.GetPlaceHolderPath(placeholder_path, placeholder_id);
diff --git a/stratosphere/ncm/source/ncm_fs.cpp b/stratosphere/ncm/source/ncm_fs.cpp
index 4de2822ad..e9d4aa721 100644
--- a/stratosphere/ncm/source/ncm_fs.cpp
+++ b/stratosphere/ncm/source/ncm_fs.cpp
@@ -25,12 +25,14 @@ namespace sts::ncm {
         errno = 0;
         struct stat st;
 
-        *out = false;
         if (stat(path, &st) == 0 && S_ISREG(st.st_mode)) {
             *out = true;
+        } else {
+            *out = false;
         }
 
-        if (errno != 0) {
+        /* It is a valid state for the file to not exist. */
+        if (errno != 0 && errno != ENOENT && errno != ENOTDIR) {
             return fsdevGetLastResult();
         }
     
@@ -41,12 +43,14 @@ namespace sts::ncm {
         errno = 0;
         struct stat st;
 
-        *out = false;
         if (stat(path, &st) == 0 && S_ISDIR(st.st_mode)) {
             *out = true;
+        } else {
+            *out = false;
         }
 
-        if (errno != 0) {
+        /* It is a valid state for the directory to not exist. */
+        if (errno != 0 && errno != ENOENT && errno != ENOTDIR) {
             return fsdevGetLastResult();
         }