This is a translation of the original Japanese release. The Japanese text shall prevail in case of any variance between this version and the Japanese text.
(Revised) Consolidated Financial Results (Japanese Accounting Standards)
For the Second Quarter Ended 31 March 2021
Company Name | BEENOS Inc. | |
Stock Code | 3328 | |
Representative | President and Group CEO | |
Contact | Executive Officer | |
Scheduled filing date of the Annual | 14 May 2021 | |
Securities Report | ||
Supplementary documents for quarterly results: Yes
Quarterly results briefing: Yes (for Analysts)
6 May 2021 | ||
Stock Exchange Listing | Tokyo | |
URL http://www.beenos.com | ||
Shota Naoi | ||
Hisanori Matsuda | (TEL) 03-5739-3350 | |
Scheduled date of commencement | ― | |
of dividend payment |
(Amounts rounded down to the nearest million yen)
1. Consolidated Financial Results for the Second Quarter Ended 31 March 2021 (1 October 2020 - 31 March 2021)
(1) Consolidated Results of Operations (Accumulated Total) | (% show year-on-year changes) | ||||||||||||||
Net sales | Operating income | Ordinary income | Net income | ||||||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | ||||||||
2Q FY2021 | 12,423 | △13.0 | 751 | △71.3 | 732 | △71.9 | 284 | △83.4 | |||||||
2Q FY2020 | 14,286 | 22.2 | 2,616 | ― | 2,605 | ― | 1,711 | ― | |||||||
Comprehensive | |||||||||||||||
(Note) Income | 2Q FY2021 | 988 Mil. yen ( △38.4%) | 2Q FY2020 | 1,605 Mil. yen ( | ―%) | ||||||||||
Net income per share | Net income per share | ||||||||||||||
(basic) | (diluted) | ||||||||||||||
Yen | Yen | ||||||||||||||
2Q FY2021 | 22.32 | 20.92 | |||||||||||||
2Q FY2020 | 138.27 | ― | |||||||||||||
(2) Consolidated Financial Position | |||||||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | ||||||||||||
Million yen | Million yen | % | Yen | ||||||||||||
2Q FY2020 | 22,952 | 12,437 | 53.7 | 949.10 | |||||||||||
FY2020 | 23,029 | 11,210 | 48.3 | 882.12 | |||||||||||
(Reference) Shareholders' | 2Q FY2021 12,335 Million yen | FY2020 | 11,130 Million yen | ||||||||||||
equity | |||||||||||||||
2. Dividends | |||||||||||||||
Dividend per share | |||||||||||||||
End of 1Q | End of 2Q | End of 3Q | Year-end | Total | |||||||||||
Yen | Yen | Yen | Yen | Yen | |||||||||||
FY2020 | ― | 0.00 | ― | 20.00 | 20.00 | ||||||||||
FY2021 | ― | 0.00 | |||||||||||||
3. Consolidated Forecasts for the Fiscal Year Ending 30 September 2021 (1 October 2020 - 30 September 2021)
We are refraining from disclosing our consolidated forecast for FY2021. Please refer to "Explanation of Outlook for FY2021" on pg. 7 for details.
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- Notes
(1) Changes of important subsidiaries during period | : | None | ||||||
New companies: -(Company name: -) | Excluded companies: -(Company name: -) | |||||||
(2) | ||||||||
(3) Changes in accounting policies and changes or restatement of accounting estimates | ||||||||
① | Changes in accounting policies caused | by revision | of | |||||
accounting standards | : | None | ||||||
② | Changes in accounting policies other than ① | : | None | |||||
③ | Changes in accounting estimates | : | None | |||||
④ | Restatement | : | None | |||||
(4) Number of shares outstanding (common shares) | ||||||||
Number of shares outstanding at the end of | ||||||||
① | 2Q FY2021 | 13,335,995 | FY2020 | 13,335,995 | ||||
period (including treasury shares) | ||||||||
Shares | Shares | |||||||
Number of treasury shares at end of period | 339,202 | 717,670 | ||||||
② | 2Q FY2021 | Shares | FY2020 | Shares | ||||
Average number of shares outstanding during | ||||||||
③ | 2Q FY2021 | 12,769,350 | 2Q FY2020 | 12,377,430 | ||||
the term | ||||||||
Shares | Shares | |||||||
- Status of a quarterly review
This financial summary does not need to undergo auditing.
- Explanations and other special notes concerning the appropriate use of business performance forecasts
The forward-looking statements such as result forecasts included in this document are based on the information available to the Company at the time of the announcement and on certain assumptions considered reasonable, and the Company makes no representations as to their achievability. Actual results may differ materially from the forecast depending on a range of factors.
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○Table of Contents
1.Qualitative Information for this Fiscal Year's Results | 4 | |
(1) Business Performance Report | 4 | |
(2) Financial Status Report | 6 | |
(3) Outlook for FY2021 | 7 | |
2.Quarterly Financial Statements and Major Notes | 9 | |
(1) | Quarterly Consolidated Balance Sheet | 9 |
(2) | Quarterly Consolidated Profit & Loss Statement and | |
Quarterly Consolidated Statement of Comprehensive Income | 10 | |
Quarterly Consolidated Profit & Loss Statement | ||
Consolidated Cumulative 2nd Quarter | 11 | |
Quarterly Consolidated Statement of Comprehensive Income | ||
Consolidated Cumulative 2nd Quarter | 12 | |
(3) | Quarterly Consolidated Statement of Cash Flows | 13 |
(4) | Notes on Consolidated Financial Statement | 15 |
(Notes regarding the premise of on-going concerns) | 15 | |
(Notes regarding significant changes in the amount of shareholder's equity) | 15 | |
(Segment Information) | 15 |
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1. Qualitative Information for this Fiscal Year's Results
(1) Business Performance Report
The BEENOS Group aims to be on the "Global Platform Frontier" and continue to create platforms that will connect Japan with the world to create new standards and possibilities for people, products and experiences.
Our objective this year is to "establish a position that competitors cannot catch up to" in the Global Commerce Business, "shift to higher ticket items and fortify foreign sales" in the Value Cycle Business and "create a new SaaS-type system specific to the entertainment industry" in the Entertainment Business. We also believe that the effects of the COVID-19 pandemic will have a long-term effect and will take the necessary measures to adapt in the most appropriate manner for the safety and the growth of our businesses.
In the second quarter, the Global Commerce Business continued to leverage its position with the cheapest available shipping rates to its respective countries to increase its share of the market. The Value Cycle Business has conducted multiple measures, including the opening of additional brick and stores, to increase its purchasing ability of higher ticketed items to turn over and sell. The Entertainment Business focused on the sales of official merchandise of performing artists and aimed to create a scheme that would not depend heavily on in-person events. As a result, the E-Commerce Business showed strong growth in sales and operating income. The Incubation Business recorded minimal sales on investments. The new businesses have continued its efforts to support Japanese companies and content holders with their global penetration and advancement by joining partnerships with places such as Alibaba Group's CtoC marketplace "Taobao" and flea market app "Xianyu" as well as Southeast Asia's largest EC platform, "Lazada". As we continue to connect Japan with the world's largest EC markets, we aim to create new markets that crosses borders.
As a result, the 2nd quarter consolidated net sales were 12,423 Million JPY (down 13.0% year on year), operating income was 751 Million JPY (down 71.3% year on year), ordinary income was 732 Million JPY (down 71.9% year on year), and net income attributable to owners of parent was 284 Million JPY (down 83.4% year on year). The main reason for the big decrease year on year is because we recorded sales of operational investment securities last year (about 2.8 Billion JPY), but sales in the same category were minimal year to date.
The consolidated GMV for the 2nd quarter was 31.9 Billion JPY (up 30.2% year on year).
The book value for our operational investment securities at the end of March 2021 was 4.8 Billion JPY. The market value has risen to 20.9 Billion JPY which is an increase of 0.8 Billion JPY in book value and 1.4 Billion JPY in market value since the end of FY2020.1
The achievements of each business segment are as follows.
① E-Commerce Business i)Global Commerce Business
The Overseas Forwarding and Proxy Purchasing Business (From Japan) has formed a business alliance with Mercari, Inc. in November 2019 which has driven the growth of its GMV. Furthermore, as COVID-19 has delayed or suspended international distribution, we have made a concerted effort to provide alternative shipping methods to foreign countries which has led to an increased pace in sales. The United States has particularly seen an increase in orders as we are able to implement an original shipping service that provides shipping charges at less than half the normal cost which gives us leverage over competitors. We have seen an increase in orders placed in Taiwan, which is one of our focal countries, through aggressive campaigning. We have also made it easier for Japanese EC services to make their products available on Buyee through "Buyee Connect" which can be simply done by installing a few tags on the EC service's website. Popular websites such as LOCONDO.jp and FASHION WALKER have already used this service. Buyee Connect allows users to purchase through major foreign payment services such as PayPal and Alipay as well as receiving customer support in
1 The market value for listed companies is calculated at its stock price. Unlisted companies are calculated based on our number of shares with the price of the most recent stock issuance (if a company has recorded allowance for loss on investments, it is priced at book value). This amount has been calculated internally and has not gone through the auditing process.
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various languages including English and Chinese.
The Global Shopping Business (To Japan) has continued to automate its operations and conducted marketing strategies aimed at individual users to increase its number of active users. Though COVID-19 has hit the United States hard, where our distribution center is located, operations were delayed temporarily by the pandemic, but has returned to normal by the end of the 2Q.
As a result, the net sales were 3,838 Million JPY (up 36.9% year on year) and operating income was 1,293 Million JPY (up 64.8% year on year).
ii) Value Cycle Business
The Apparel Reuse Business has seen a decrease in demand for luxury items with the continuing spike of COVID-19 and the declaration of a state of emergency in major Japanese cities but has been able to improve its operating margins though the improvement of gross profit margins and optimizing advertising costs. On the purchasing side, we have opened 3 Brandear brick and mortar stores in Tokyo to continue the purchasing of luxury items in the first quarter. These efforts have increased the average unit price of purchased items. Furthermore, our online appraising service, "Brandear Bell", has started appraising watches and accessories and our delivery purchasing service has now implemented an insurance service on its deliveries up to 5 Million JPY. These non-face to face measures have improved our purchasing services and led to a steady flow of purchases. On the selling side, we have partnered with the Taiwan and Southeast Asia E-Commerce juggernaut, "Shopee," to sell merchandise abroad. This has led to an increase in foreign sales which now comprises of 10.3% of all sales in 2Q (foreign composition was 6.3% on 2Q FY2020). We have also started a back-order service where customers can have items they are interested be shipped to any of Brandear or JOYLAB's locations where they can see it first-hand before purchasing the item.
The Liquor Mediation Business has increased its marketing to purchase items from restaurants and bars. As a result, purchases increased. On the selling side, sales were doing well due to consumers purchasing liquor to drink at home as well as an increase in demand for Japanese whiskey that is no longer in circulation.
As a result, net sales were 5,728 Million JPY (down 9.6% year on year) and operating income was 130 Million JPY (up 120.6% year on year).
iii)Entertainment Business
The Entertainment Business continues to see a downward trend of large-scale events due to the COVID-19 pandemic which has led to a decrease in sales at concert venues. However, we have seen a steady increase in sales as we have focused on selling merchandise via E-commerce at online events. We have also optimized operation to cut on fixed costs which has increased operating margins.
The Global Product Business has seen healthy sales in its original cosmetic brands, such as "366 (San Roku Roku). "
As a result, the net sales were 2,772 Million JPY (up 24.9% year on year) and operating income was 162 Million JPY (compared with operating loss of 28 Million JPY in 2Q FY2020).
For the E-Commerce Business as a whole, net sales were 12,339 Million JPY (up 8.6% year on year) and operating income was 1,587 Million JPY (up 94.6% year on year).
②Incubation Business
The Investment and Consultation Business has focused on investing in startups in online marketplaces and
online payments in emerging countries and Japanese inbound tourism in Japan. We have teamed up with one of our domestic investments, Vpon JAPAN Inc., to create a digital solution on the cross-border front. This partnership with BEENOS Travel Inc. will operate the "Japan inbound media promotion verification" service that will gauge how inbound-related advertisements and articles have converted to users actually visiting the target region. We currently find ourselves in the stage where we can synergize with the companies we have
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invested in. Inbound related startups are still in a rough position with the COVID-19 pandemic, but we remain focused on projects that we can release once the pandemic settles down. Though we have only recorded minimal sales on investment securities, many of our investments have seen their numbers recover back to, or even beyond, what it was when the pandemic started due to a global shift to the digital sector. We will continue to monitor these companies and make any sales at the opportune moment.
The Start-up Business has a start-up that has partnered with one of Southeast Asia's largest EC platforms, "Lazada," and has continued in 2Q to partner Mercari with Alibaba Group's CtoC marketplace "Taobao" and flea market app "Xianyu." This allows users on "Taobao" and "Xianyu" to make purchases on Japan's "Mercari." As we cover the translation of product information, offer multi-lingual customer support and take care of logistics to ship overseas, Japanese companies are able to list onto the previously mentioned platforms without doing any special operation on their side. BEENOS Entertainment Inc., a subsidiary that works on the assistance of the digital transformation of the entertainment industry, has launched an EC platform "Groobee" that allows artists, etc. in the entertainment industry to create an EC website in as little as 5 business days. In the travel industry, Metro Engines has teamed up with BEENOS Travel Inc. to operate "Monthly Hotel", a hotel booking site tailored to long term bookings.
As a result, net sales for the were 123 Million JPY (down 95.8% year on year) and operating loss was 421 Million JPY (compared with an operating income of 2,448 Million JPY in 2Q FY2020).
The book value for our operational investment securities at the end of March 2021 was 4.8 Billion JPY and the market value was 20.9 Billion JPY (book value as of September 2020 was 3.9 Billion JPY and market value was
19.5 Billion JPY).2
- Financial Status Report
- Financial Status Analysis
(i) Assets
Assets totaled 22,952 Million JPY at the end of the 2Q, down 77 Million JPY from the end of the previous fiscal year.
Current assets totaled 19,611 Million JPY, down 246 Million JPY from the end of the previous fiscal year. This was mainly attributable to an increase of 840 Million JPY in marketable investments in securities and a decrease of 462 Million JPY in cash and deposits, 420 Million JPY in notes and accounts receivable-trade and 645 Million JPY in accounts receivable-trade.
Total non-current assets were 3,340 Million JPY, up 169 Million JPY from the end of the previous fiscal year. This was mainly due to an increase of 132 Million JPY of investment securities and 61 Million JPY of software which is included in other of intangibles.
(ii) Liabilities
Total liabilities at the end of the 2Q of the current fiscal year decreased by 1,304 Million JPY from the end of the previous fiscal year to 10,515 Million JPY.
Total current liabilities amounted to 8,699 Million JPY, down 984 Million JPY from the end of the previous fiscal year. This was mainly due to a decrease in deposits received of 1,348 Million JPY and an increase of 360 Million JPY in accounts payable-other.
Total non-current liabilities were 1,815 Million JPY, down 319 Million JPY from the end of the previous fiscal year. This was mainly due to a decrease of 171 Million JPY in long-term loans payable and 154 in deferred tax liabilities.
2 The market value for listed companies is calculated at its stock price. Unlisted companies are calculated based on our number of shares with the price of the most recent stock issuance (if a company has recorded allowance for loss on investments, it is priced at book value). This amount has been calculated internally and has not gone through the auditing process.
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-
Net assets
Net assets at the end of the 2Q of the fiscal year under review increased by 1,226 Million JPY from the end of
the previous fiscal year to 12,437 Million JPY. This was mainly due to an increase of 408 Million JPY in treasury shares and an increase of 503 Million JPY in unrealized gains on available-for-sale securities.
②Cash Flow Report
Cash and cash equivalents (hereinafter referred to as "cash") at the end of the 2Q amounted to 9,885 Million JPY, a decrease of 334 Million JPY from the end of the previous fiscal year.
The status of each Cash Flow for this fiscal year are outlined below.
(Net cash provided by operating activities)
Net cash used in operating activities decreased by 150 Million JPY during the first half of the fiscal year under review. The main reasons for the increase were income before income taxes and minority interests of 733 Million JPY, an increase of 663 Million JPY due to a decrease in notes and accounts receivable-trade, and an increase of 659 Million JPY due to a decrease in accounts receivable-other. The main reasons for the decrease were a decrease in deposits received of 1,007 Million JPY and income taxes paid of 1,133 Million JPY.
(Net cash provided by investment activities)
Net cash used in investing activities amounted to 217 Million JPY. Major outflows included purchase of intangible assets of 94 Million JPY and purchase of investment securities of 54 Million JPY.
(Net cash provided by financing activities)
Net cash used in financing activities amounted to 34 Million JPY. The main factors contributing to this increase were proceeds from exercise of stock options of 372 Million JPY, and the main factors contributing to the decrease were repayments of long-term loans payable of 150 Million JPY and cash dividends paid of 251 Million JPY.
(3) Outlook for FY2021
We are refraining from disclosing our consolidated FY2021 forecast as we have determined that it is not logical to forecast the timing and amount of sales of operational investment securities in the Incubation Business. Moreover, we need to be flexible regarding the timing and amount we plan to invest in our new businesses as we closely monitor the upcoming circumstances.
We do believe that disclosing our forecast is very important in making investment decisions, so we will proceed to disclose the forecast for our E-Commerce Business which is more transparent.
Given the status of our financial results and the projections we currently have, we have decided to make the following adjustments to the forecast we released on 5 November 2020.
The updated forecast as well as the reasoning behind the adjustments are outlined as follows.
【Global Commerce】
There has been a large increase in orders from North America, where we are now able to provide shipping at a cheaper cost. We foresee this increase to continue which will boost GMV, net sales and operating income. The effects of COVID-19 on logistics were not considered in these projections.
【Value Cycle】
The COVID-19 pandemic and ensuing declaration of a state of emergency by the Japanese government to refrain from going outdoors has led to an increase in purchases of brand-named items and apparel but has negatively affected sales due to a decrease in consumer appetite. We will continue to be conservative with our
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forecast in this segment and will decrease the forecasted sales. However, operating income is expected to increase slightly due to controlling gross profit ratios and costs, mainly in advertising.
【Entertainment】
We anticipated to flat line from last year due to the continuation of COVID-19 preventing large gatherings such as live concerts, but as we have seen positive results in the sales of merchandise via E-Commerce in coordination with online events as well as our original cosmetic brands doing better than initially projected, we will be making an upward adjustment to GMV, net sales and operating income in this segment.
E-Commerce Business Forecast | (Unit: Billion JPY) | ||||
Global Commerce | Value Cycle | Entertainment | Total | ||
Previously | GMV | 34.2 | 13.0 | 8.0 | 55.2 |
Net Sales | 7.6 | 13.0 | 4.0 | 24.6 | |
Announced | |||||
(A) | |||||
Operating | 2.15 | 0.18 | 0.0 | 2.33 | |
Income | |||||
GMV | 39.7 | 12.0 | 10.6 | 62.4 | |
Adjusted | |||||
Net Sales | 7.8 | 12.0 | 4.4 | 24.3 | |
(B) | |||||
Operating | 2.55 | 0.18 | 0.14 | 2.87 | |
Income | |||||
GMV | 5.5 | ▲1.0 | 2.6 | 7.2 | |
Difference | |||||
Net Sales | 0.2 | ▲1.0 | 0.4 | ▲0.3 | |
(B-A) | |||||
Operating | 0.40 | 0.0 | 0.14 | 0.54 | |
Income | |||||
GMV | 16.1% | ▲7.7% | 32.5% | 13.0% | |
Percent | |||||
Net Sales | 2.6% | ▲7.7% | 10.0% | ▲1.2% | |
Change (%) | |||||
Operating | 18.6% | 0.0% | ― | 23.2% | |
Income | |||||
FY2020 Results (Reference) | |||||
Global Commerce | Value Cycle | Entertainment | Total | ||
GMV | 29.7 | 12.1 | 8.2 | 50.1 | |
Net Sales | 5.9 | 12.1 | 4.0 | 22.1 | |
Operating Income | 1.68 | 0.10 | ▲0.09 | 1.69 | |
※As of 1Q FY2021, the names of the following business segments have changed. The "Cross Border Business" is now the "Global Commerce Business" and the "Retailing and Licensing Business" is now the "Entertainment Business." The subsidiaries within each business segment remains the same.
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2. Quarterly Financial Statements and Major Notes
(1) Quarterly Consolidated Balance Sheet
(Unit:1,000 JPY) | ||||
Year-end FY2020 | 2Q FY2021 | |||
(30 September 2020) | (31 March 2021) | |||
Assets | ||||
Current assets | ||||
Cash and deposits | 9,976,285 | 9,514,258 | ||
Notes and accounts receivable | 1,110,244 | 690,064 | ||
Operational investment securities | 3,966,499 | 4,807,075 | ||
Products | 1,553,412 | 1,715,338 | ||
Accounts receivable | 2,090,188 | 1,444,204 | ||
Other | 1,167,282 | 1,446,492 | ||
Allowance for doubtful accounts | △5,600 | △5,600 | ||
Total current assets | 19,858,313 | 19,611,833 | ||
Fixed assets | ||||
Tangible Assets | ||||
Buildings and structures | 581,194 | 628,367 | ||
Accumulated depreciation | △297,855 | △322,337 | ||
Buildings and structures, net | 283,339 | 306,030 | ||
Vehicles | 9,549 | 9,680 | ||
Accumulated depreciation | △8,716 | △9,010 | ||
Vehicles, net | 833 | 670 | ||
Tools, materials and supplies | 205,497 | 192,357 | ||
Accumulated depreciation | △147,248 | △135,479 | ||
Tools, materials and supplies, net | 58,249 | 56,877 | ||
Total tangible assets | 342,421 | 363,578 | ||
Intangible assets | ||||
Goodwill | 374,785 | 322,190 | ||
Other | 167,754 | 228,567 | ||
Total intangible assets | 542,539 | 550,758 | ||
Investments etc. | ||||
Investment securities | 1,776,419 | 1,908,931 | ||
Deferred tax assets | 68,772 | 57,834 | ||
Other | 441,221 | 459,393 | ||
Total investments etc. | 2,286,413 | 2,426,159 | ||
Total fixed assets | 3,171,375 | 3,340,496 | ||
Total assets | 23,029,688 | 22,952,329 | ||
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(Unit:1,000 JPY) | |||||
Year-end FY2020 | 2Q FY2021 | ||||
(30 September 2020) | (31 March 2021) | ||||
Liabilities | |||||
Current liabilities | |||||
Notes and accounts payable-trade | 348,387 | 311,807 | |||
Short-term loan | 1,600,000 | 1,600,000 | |||
Current portion of long-term loans payable | 300,000 | 300,000 | |||
Accounts payable-other | 3,373,049 | 3,733,866 | |||
Deposits received | 2,373,894 | 1,025,828 | |||
Income taxes payable | 783,695 | 815,035 | |||
Other | 904,829 | 912,871 | |||
Total current liabilities | 9,683,855 | 8,699,408 | |||
Fixed liabilities | |||||
Long-term loans payable | 1,721,617 | 1,550,000 | |||
Deferred tax liabilities | 212,544 | 57,780 | |||
Asset retirement obligations | 201,420 | 208,019 | |||
Total fixed liabilities | 2,135,582 | 1,815,799 | |||
Total liabilities | 11,819,437 | 10,515,207 | |||
Net assets | |||||
Shareholders' equity | |||||
Capital stock | 2,775,840 | 2,775,840 | |||
Capital surplus | 3,903,953 | 3,963,263 | |||
Retained earnings | 5,462,007 | 5,494,635 | |||
Treasury Stock | △778,700 | △369,899 | |||
Total shareholders' equity | 11,363,100 | 11,863,839 | |||
Other accumulated comprehensive income | |||||
Valuation difference on securities | △286,179 | 216,941 | |||
Foreign currency translation adjustments | 53,939 | 254,484 | |||
Total other accumulated comprehensive | △232,239 | 471,426 | |||
income | |||||
Share subscription rights | 79,389 | 101,856 | |||
Total net assets | 11,210,251 | 12,437,121 | |||
Total liabilities and net assets | 23,029,688 | 22,952,329 | |||
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Quarterly Consolidated Profit & Loss Statement and Quarterly Consolidated Statement of Comprehensive Income
Quarterly Consolidated Profit & Loss Statement
Consolidated Cumulative 2nd Quarter
(Unit:1,000 JPY) | |||||
2Q FY2020 | 2Q FY2021 | ||||
(1 October 2019 - | (1 October 2020 - | ||||
31 March 2020) | 31 March 2021) | ||||
Net sales | 14,286,146 | 12,423,819 | |||
Cost of sales | 6,259,410 | 6,193,003 | |||
Gross profit | 8,026,735 | 6,230,816 | |||
Selling, general and administrative expenses | 5,410,668 | 5,479,532 | |||
Operating income (△ losses) | 2,616,067 | 751,283 | |||
Non-operating income | |||||
Interest income | 43 | 113 | |||
Subsidy income | 7,925 | 49,204 | |||
Gain on investments in partnerships | 68,795 | - | |||
Other | 24,350 | 24,825 | |||
Total non-operating income | 101,115 | 74,143 | |||
Non-operating expenses | |||||
Interest expenses | 4,362 | 7,128 | |||
Equity in loss of affiliates | 32 | 45,000 | |||
Foreign exchange losses | 14,799 | 35,088 | |||
Commissions paid | 91,242 | 34 | |||
Loss on investments in partnerships | - | 5,318 | |||
Other | 809 | 222 | |||
Total non-operating expenses | 111,246 | 92,792 | |||
Ordinary income | 2,605,936 | 732,634 | |||
Extraordinary income | |||||
Gain on reversal of subscription | rights to | 8,806 | 609 | ||
shares | |||||
Total extraordinary income | 8,806 | 609 | |||
Income ( △ ) before income taxes and | minority | 2,614,742 | 733,243 | ||
interests | |||||
Income taxes | 655,363 | 796,766 | |||
Income taxes-deferred | 289,942 | △348,517 | |||
Total income taxes | 945,306 | 448,249 | |||
Income before income | 1,669,436 | 284,993 | |||
Loss (△) attributable to non-controlling interests | △42,016 | - | |||
Net profit attributable to owners of parent | 1,711,453 | 284,993 | |||
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Quarterly Consolidated Statement of Comprehensive Income
Consolidated Cumulative 2nd Quarter
(Unit:1,000 JPY) | |||
2Q FY2020 | 2Q FY2021 | ||
(1 October 2019 - | (1 October 2020 - | ||
31 March 2020) | 31 March 2021) | ||
Net Income or Loss (△) | 1,669,436 | 284,993 | |
Other comprehensive income | |||
Valuation difference on securities | △48,888 | 502,829 | |
Foreign currency translation adjustments | △13,826 | 195,839 | |
Share of other comprehensive (loss) income in | △1,133 | 4,996 | |
associates | |||
Total other comprehensive income
Quarterly Comprehensive income
(Breakdown)
Comprehensive income attributable to ownersof parent
Comprehensive income attributable to non- controlling interests
△63,848703,665
1,605,588988,659
1,647,605988,659
△42,016 | - |
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(3) Quarterly Consolidated Statements of Cash Flows
(Unit:1,000 JPY) | ||
2Q FY2020 | 2Q FY2021 | |
(1 October 2019 - | (1 October 2020 - | |
31 March 2020) | 31 March 2021) | |
Net cash provided by (used in) operating activities | ||
Income (△) before income taxes and minority | 2,614,742 | 733,243 |
interests | ||
Depreciation and amortization
Amortization of goodwill
Stock-based Compensation Expense
Interest and dividends income
Interest expenses
Foreign exchange losses (Gains:△)
Equity in losses of affiliates (Gains:△)
Loss on investments in partnership (Gains:△)
Gain on reversal of subscription rights to shares
Decrease in notes and accounts receivable- trade (Increase:△)
Increase in operational investment securities (Increase: △)
62,449 | 66,230 |
51,552 | 52,932 |
41,285 | 76,820 |
△43 | △113 |
4,362 | 7,128 |
△539 | 109 |
32 | 45,000 |
△68,795 | 5,318 |
△8,806 | △609 |
1,838,981 | 663,922 |
11,003 | △136,049 |
Decrease in inventories (Increase:△)
Increase (decrease) in accounts receivable- other (△ increased)
Increase in notes and accounts payable-trade (Decrease:△)
Increase in accounts payable-other(Decrease: △)
164,389△161,671
△225,010659,096
24,395△41,406
△580,724337,838
Increase in deposits received (Decrease:△) | 276,736 | △1,007,377 | ||
Increase in | consumption taxes payable | 40,741 | △118,296 | |
(Decrease:△) | ||||
Other
Subtotal
Interest and dividend received
Interest expenses paid
Income taxes refunded
Income taxes paid
Net cash provided by (used in) operating activities
Cash flow from investing activities
Purchase of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Payments for lease and guarantee deposits
Proceeds from collection of lease and guarantee deposits
Proceeds from distributions from investment partnerships
Payments for transfer of business
Other
Cash flow from investing activities
△113,564 | △261,537 |
4,133,187 | 920,068 |
12,733 | 106 |
△4,250 | △7,088 |
75,943 | 69,941 |
△219,913 | △1,133,225 |
3,997,700 | △150,197 |
△7,913 | △51,140 |
△42,102 | △94,548 |
△131,592 | △54,177 |
△21,846 | △24,343 |
45 | - |
8,235 | 6,167 |
△160,000 | - |
100 | 83 |
△355,073 | △217,958 |
13
(Unit:1,000 JPY) | |
2Q FY2020 | 2Q FY2021 |
(1 October 2019 - | (1 October 2020 - |
31 March 2020) | 31 March 2021) |
Cash flow from financing activities
Increase in short-term loans payable (Decrease:△)
Repayment of long-term loans payable
Purchase of treasury stock
Sales of treasury stock
Purchase of treasury stock of subsidiaries in consolidation
Cash dividends paid to non-controlling interests
Proceeds from issuance of subscription rights to shares
Cash dividends paid
△950,000 | - |
- | △150,000 |
△114,857 | △5,327 |
162 | - |
△180,450 | - |
- | 372,607 |
1,418 | - |
△215,567 | △251,572 |
Cash flow from financing activities | △1,459,294 | △34,293 | ||||||
Effect of exchange rate change on cash and cash | △4,723 | 68,301 | ||||||
equivalents | ||||||||
Net | increase | in | cash | and | cash | 2,178,608 | △334,147 | |
equivalents(Decrease:△) | ||||||||
Cash and cash equivalents at the beginning of the | 5,478,335 | 10,220,118 | ||||||
year | ||||||||
Cash and cash equivalents | 7,656,944 | 9,885,970 | ||||||
14
- Notes on Quarterly Consolidated Financial Statements (Notes regarding the premise of on-going concerns)
Not Applicable
(Notes regarding significant changes in the amount of shareholder's equity) Not Applicable
(Segment Information, etc.) 【Segment Information】
I Previous Consolidated Cumulative 2nd Quarter(1 October 2019 - 31 March 2020) 1.Information regarding sales, profit or loss, and liabilities by reporting segment
(Unit:1,000 JPY)
Reporting Segment | Recorded | ||||||||
Amount on | |||||||||
E-Commerce Business | |||||||||
Adjustments | Quarterly | ||||||||
Incubation | Consolidated | ||||||||
Global | Value | Entertain | Total | (Note)1 | Profit & Loss | ||||
Subtotal | Business | ||||||||
Commerce | Cycle | ment | Statement | ||||||
(Note)2 | |||||||||
Net Sales | |||||||||
Sales | to | 2,794,854 | 6,337,944 | 2,218,825 | 11,351,625 | 2,934,521 | 14,286,146 | ― | 14,286,146 |
Customer | |||||||||
Internal | |||||||||
Sales | or | ||||||||
Transfer | 8,475 | ― | 92 | 8,567 | 40,911 | 49,478 | △49,478 | ― | |
Between | |||||||||
Segment | |||||||||
Total | 2,803,329 | 6,337,944 | 2,218,918 | 11,360,192 | 2,975,432 | 14,335,625 | △49,478 | 14,286,146 | |
Segment | 785,075 | 59,357 | △28,648 | 815,783 | 2,248,916 | 3,064,699 | △448,632 | 2,616,067 | |
Earnings | |||||||||
(Note) 1.The segment earnings or loss adjustment of △448 Million JPY includes the deletion of inter-segment transactions of △1,830 Million JPY, company-wide revenue of 2,042 Million JPY, that is not distributed to each reporting segment, and company-wide cost of △661 Million JPY. Company-wide revenues are mainly the Company's received commission from each subsidiary. Company-wide costs are mainly the Company's administrative costs toward the subsidiaries.
2.Segment Losses are adjusted in the operating income of the Quarterly Consolidated Profit & Loss Statement.
- Current Consolidated Cumulative 2nd Quarter (1 October 2020 - 31 March 2021) 1.Information regarding sales, profit or loss, and liabilities by reporting segment
(Unit:1,000 JPY) | |||||||||
Reporting Segment | Recorded | ||||||||
Amount on | |||||||||
E-Commerce Business | |||||||||
Adjustments | Quarterly | ||||||||
Incubation | Consolidated | ||||||||
Total | (Note) 1 | ||||||||
Global | Value | Entertain | Profit & Loss | ||||||
Subtotal | Business | ||||||||
Commerce | Cycle | ment | Statement | ||||||
(Note) 2 | |||||||||
Net Sales | |||||||||
Sales | to | 3,833,657 | 5,728,382 | 2,771,489 | 12,333,529 | 90,290 | 12,423,819 | ― | 12,423,819 |
Customer | |||||||||
Internal | |||||||||
Sales | or | ||||||||
Transfer | 4,545 | 155 | 957 | 5,659 | 33,700 | 39,359 | △39,359 | ― | |
Between | |||||||||
Segment | |||||||||
Total | 3,838,202 | 5,728,538 | 2,772,447 | 12,339,188 | 123,990 | 12,463,178 | △39,359 | 12,423,819 | |
15
Segment | 1,293,490 | 130,965 | 162,898 | 1,587,354 | △421,469 | 1,165,884 | △414,600 | 751,283 | |
Earnings | |||||||||
(Note) 1.The segment earnings or loss adjustment of △414 Million JPY includes the deletion of inter-segment | |||||||||
transactions of 1,553 Million JPY, company-wide revenue of 178 Million JPY, that is not distributed to | |||||||||
each reporting segment, and company-wide cost of △595 Million JPY. Company-wide revenues are | |||||||||
mainly the Company's received commission from each subsidiary. Company-wide costs are mainly the | |||||||||
Company's administrative costs toward the subsidiaries. | |||||||||
2.Segment Losses are adjusted in the operating income of the Quarterly Consolidated Profit & Loss | |||||||||
Statement. |
2. Notes regarding changes in reporting segments
As of 1Q FY2021, the names of the following business segments have changed. The "Cross Border Business" is now the "Global Commerce Business" and the "Retailing and Licensing Business" is now the "Entertainment Business." The subsidiaries within each business segment remains the same.
We have reflected the name change in 2Q FY2020's segment information.
16
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Beenos Inc. published this content on 06 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 May 2021 18:32:07 UTC.