Summary of Consolidated Financial Results | |||||
for the Fiscal Year Ended March 31, 2023 [IFRS] | |||||
Full-Page Translated Version | Apr 28, 2023 | ||||
Listed Company: | M3, Inc. | Listed Stock Exchange: Tokyo | |||
Securities Code: | 2413 | URL: https://corporate.m3.com/ | |||
Representative: | (Title) | CEO | (Name) | Itaru Tanimura | |
Contact: | (Title) | Director | (Name) | Eiji Tsuchiya | TEL: 03-6229-8900 |
General Meeting of Shareholders: | June 28 ,2023 | ||||
Dividend payment commencement date: | June 12, 2023 | ||||
Submission of securities report: | June 29, 2023 |
Preparation of explanatory materials for quarterly financial result: Yes
Assembly for briefing of financial results: Yes (For Analysts and institutional investors)
(Amounts of less than one million yen are rounded)
1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2023 (From April 1, 2022 to March 31, 2023)
(1) Consolidated Operating Results (Cumulative) | (% figure show year-on-year change) | ||||||||||||||||||||||||||
Profit attributable to | Total | ||||||||||||||||||||||||||
Net sales | Operating profit | Pre-tax profit | Net profit | owners of the | comprehensive | ||||||||||||||||||||||
parent company | profit | ||||||||||||||||||||||||||
Million | % | Million | % | Million | % | Million | % | Million | % | Million | % | ||||||||||||||||
Yen | Yen | Yen | Yen | Yen | Yen | ||||||||||||||||||||||
Fiscal Year | |||||||||||||||||||||||||||
ended | 230,818 | 10.9 | 71,983 | -24.3 | 74,318 | -22.7 | 51,983 | -21.4 | 49,028 | -23.2 | 62,857 | -11.3 | |||||||||||||||
March 31, | |||||||||||||||||||||||||||
2023 | |||||||||||||||||||||||||||
Fiscal Year | |||||||||||||||||||||||||||
ended | 208,159 | 23.0 | 95,141 | 64.1 | 96,187 | 65.1 | 66,108 | 60.5 | 63,845 | 68.8 | 70,845 | 61.9 | |||||||||||||||
March 31, | |||||||||||||||||||||||||||
2022 | |||||||||||||||||||||||||||
Basic earnings per | Diluted earnings per | Net profit margin on | Operating | ||||||||||||||||||||||||
share | share | equity attributable to | Total asset to | ||||||||||||||||||||||||
profit | |||||||||||||||||||||||||||
owners of the parent | pre-tax profit ratio | ||||||||||||||||||||||||||
margin | |||||||||||||||||||||||||||
company | |||||||||||||||||||||||||||
Yen | Yen | % | % | % | |||||||||||||||||||||||
Fiscal Year | |||||||||||||||||||||||||||
ended | 72.22 | 72.17 | 17.5 | 19.9 | 31.2 | ||||||||||||||||||||||
March 31, | |||||||||||||||||||||||||||
2023 | |||||||||||||||||||||||||||
Fiscal Year | |||||||||||||||||||||||||||
ended | 94.06 | 93.98 | 27.9 | 31.1 | 45.7 | ||||||||||||||||||||||
March 31, | |||||||||||||||||||||||||||
2022 | |||||||||||||||||||||||||||
(Ref)Equity in | earnings of affiliated companies for the fiscal year ended March 31, 2023: 1,471 million yen | ||||||||||||||||||||||||||
Equity in earnings of affiliated companies for the fiscal year ended March 31, 2022: -2,430 million yen | |||||||||||||||||||||||||||
(2) Consolidated Financial Position | |||||||||||||||||||||||||||
Equity attributable to | Ratio of equity | Equity per share | |||||||||||||||||||||||||
Total assets | Net equity | attributable to | |||||||||||||||||||||||||
owners of the parent | attributable to owners of | ||||||||||||||||||||||||||
owners of the | |||||||||||||||||||||||||||
company | the parent company | ||||||||||||||||||||||||||
parent company | |||||||||||||||||||||||||||
Million Yen | Million Yen | Million Yen | % | Yen | |||||||||||||||||||||||
As of March 31, 2023 | 400,645 | 309,518 | 302,630 | 75.5 | 444.22 | ||||||||||||||||||||||
As of March 31, 2022 | 345,981 | 263,954 | 257,840 | 74.5 | 378.75 |
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(3) Consolidated Cash Flow Position
Cash flow from | Cash flow from investing | Cash flow from | Cash and cash | ||||||||||
equivalents at the end of | |||||||||||||
operating activities | activities | financing activities | |||||||||||
the period | |||||||||||||
Million Yen | Million Yen | Million Yen | Million Yen | ||||||||||
Fiscal year ended | 57,113 | -21,933 | -22,837 | 118,319 | |||||||||
March 31, 2023 | |||||||||||||
Fiscal year ended | 52,108 | -23,407 | -16,371 | 104,253 | |||||||||
March 31, 2022 | |||||||||||||
2. Dividends | |||||||||||||
Annual dividends per share | Dividend payout | ||||||||||||
Dividend | Dividend payout | ratio attributable to | |||||||||||
First | Second | Third | |||||||||||
Fiscal | Total | payout | ratio | the owners of the | |||||||||
quarter- | quarter | quarter | |||||||||||
year-end | (Total) | (Consolidated) | parent company | ||||||||||
end | -end | -end | |||||||||||
(Consolidated) | |||||||||||||
Yen | Yen | Yen | Yen | Yen | Million | % | % | ||||||
Yen | |||||||||||||
Fiscal year ended | - | 0.00 | - | 16.00 | 16.00 | 10,862 | 17.0 | 4.8 | |||||
March 31, 2022 | |||||||||||||
Fiscal year ended | - | 0.00 | - | 19.00 | 19.00 | 12,899 | 26.3 | 4.6 | |||||
March 31, 2023 | |||||||||||||
Fiscal year ending | - | - | - | - | - | ||||||||
March 31, 2024 | 0.00 | ||||||||||||
(Forecast) |
(Note) Dividend forecast for the fiscal year ending March 31, 2024 is currently undetermined. It is to be determined after consideration of capital needs and condition of cash flow hereafter.
3. Forecast for the Consolidated Fiscal Year Ending March 31, 2024 (from April 1, 2023 to March 31, 2024)
(% figure show year-on-year change for the full year and | |||||||||||
change in contrast to the corresponding quarter from one year prior for the quarter) | |||||||||||
Operating | Profit attributable | Basic | |||||||||
Net sales | Pre-tax profit | Net profit | to owners of the | earnings | |||||||
profit | |||||||||||
parent company | per share | ||||||||||
Million | % | Million | % | Million | % | Million | % | Million | % | Yen | |
Yen | Yen | Yen | Yen | Yen | |||||||
2nd Quarter | 120,000 | 6.6 | 32,000 | -11.8 | 32,000 | -15.9 | 22,200 | -14.5 | 21,300 | -11.5 | 31.37 |
(cumulative) | |||||||||||
Full Year | 250,000 | 8.3 | 75,000 | 4.2 | 75,000 | 0.9 | 52,000 | 0.0 | 50,000 | 2.0 | 73.65 |
- Notes
- Changes in significant subsidiaries during the period (changes in specific subsidiaries accompanying changes in scope of consolidation): None
- Changes in accounting policies and accounting estimates:
- Changes in accounting policies required by IFRS: None
- Changes in accounting policies other than item (i) above: None
- Changes in accounting estimates: None
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- Number of shares issued (common stock)
- Number of shares outstanding at the end of the period (including treasury stock)
As of March 31, 2023 | 678,964,100 | shares |
As of March 31, 2022 | 678,904,600 | shares |
(ii) Number of treasury stock at the end of the period | ||
As of March 31, 2023 | 45,151 | shares |
As of March 31, 2022 | 45,081 | shares |
(iii) Average number of shares during the period (cumulative) | ||
As of March 31, 2023 | 678,889,214 | shares |
As of March 31, 2022 | 678,769,542 | shares |
- This summary of financial reports is outside the scope of the review procedures for quarterly financial statements
- Explanation of proper use of financial results forecasts, and other special matters
(Caution regarding statements concerning the future)
The forward-looking statements herein are based on information available to the Company and on certain assumptions deemed to be reasonable at the date of publication of this document. They are not intended as the Company's commitment to achieve such forecasts, and actual results may differ significantly due to various factors.
(Explanatory materials for financial results)
Explanatory materials for financial results will be posted on our website on Friday, April 28, 2023.
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Appendix
1. Qualitative Information on Consolidated Operating Results
(1) Explanation of consolidated operating results
In Japan, various services are provided for the 320,000+ physician members (as of April 28, 2023) via the "m3.com" website designed for medical professionals.
Medical Platform includes services which allow member physicians to proactively receive continuous and frequent information via the "m3.com" platform such as the "MR-kun" family services, marketing research capabilities paneling the physician members, and "QOL-kun" which provides marketing support for non-healthcare related corporates desiring to advertise daily life services to doctors, offering a wide menu of services catering towards various agendas and purposes of our clients. Additionally, provision of next generation sales reps, or "Medical Marketers," and healthcare advertisement agency services are also being expanded via group companies.
Evidence Solution operates businesses such as CRO, which supports clinical development operations and large- scale clinical research, SMO, which supports the overall management and operation of clinical trials at medical institutions conducting clinical trials, and PRO, which provides support for recruiting test subjects and peripheral operations necessary for conducting clinical development and clinical research, etc., through its group companies.
Career Solution provides job search and placement services for physicians and pharmacists through M3 Career, Inc.
Site Solution provides services supporting medical institution operations.
Furthermore, consumer facing services such as the "AskDoctors" (https://www.AskDoctors.jp/) website which connects public users with "m3.com" member physicians for answers to daily health questions, medical professional education such as national examination preparatory services provided by M3 Education, Inc.
In Overseas, the U.S. portal website, "MDLinx," designed for healthcare professionals, continues to expand its member network-based services catering towards pharmaceutical companies, as well as its career support services for physicians and clinical trial support services. In Europe, the "Doctors.net.uk" U.K. portal website is expanding services for pharmaceutical companies, along with pharmaceutical database services offered by the Vidal Group in France, Germany, and Spain, and offering iDoctus, a medical practice mobile app for healthcare professionals through eDoctores Soluciones, S.L., in Spain and Latin America. Business expansion continues in Asia as well.
Additionally, membership and panel participation at websites operated by M3 group starting with Japan, U.S., Europe, China, and Korea, now totals roughly 6 million physicians, enabling provision of marketing research services that span across a global scale.
Consolidated results for the fiscal year (cumulative) | (Unit: Million Yen) | |||
Fiscal year ended | Fiscal year ended | |||
March 31, 2022 | March 31, 2023 | Fiscal year comparison | ||
(April 1, 2021 to | (April 1, 2022 to | |||
Mar 31, 2022, cumulative) | Mar 31, 2023, cumulative) | |||
Net sales | 208,159 | 230,818 | +22,659 | +10.9% |
Operating Profit | 95,141 | 71,983 | -23,158 | -24.3% |
Pre-Tax Profit | 96,187 | 74,318 | -21,868 | -22.7% |
Net Profit | 66,108 | 51,983 | -14,126 | -21.4% |
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(Segment results) | (Unit: Million yen) | ||||||
Fiscal year ended March | Fiscal year ended | ||||||
31, 2022 | Mar 31, 2023 | Fiscal year | |||||
(April 1, 2021 to | (April 1, 2022 to | ||||||
comparison | |||||||
Mar 31, 2022, | Mar 31, 2023, | ||||||
cumulative) | cumulative) | ||||||
Medical Platform | Segment Net Sales | 85,928 | 93,098 | +7,170 | +8.3% | ||
Segment Profit | 39,553 | 41,147 | +1,594 | +4.0% | |||
Evidence Solution | Segment Net Sales | 22,756 | 27,157 | +4,402 | +19.3% | ||
Segment Profit | 5,654 | 7,662 | +2,007 | +35.5% | |||
Career Solution | Segment Net Sales | 14,094 | 14,538 | +445 | +3.2% | ||
Segment Profit | 4,646 | 4,644 | -2 | -0.0% | |||
Site Solution | Segment Net Sales | 35,184 | 35,295 | +111 | +0.3% | ||
Segment Profit | 3,399 | 3,745 | +346 | +10.2% | |||
Overseas | Segment Net Sales | 51,831 | 62,095 | +10,263 | +19.8% | ||
Segment Profit | 44,837 | 16,990 | -27,847 | -62.1% | |||
Other Emerging | Segment Net Sales | 3,360 | 3,284 | -76 | -2.3% | ||
Businesses | Segment Profit | -601 | 945 | +1,547 | - | ||
Adjustment | Segment Net Sales | -4,994 | -4,649 | - | - | ||
Segment Profit | -2,348 | -3,151 | - | - | |||
Total | Net Sales | 208,159 | 230,818 | +22,659 | +10.9% | ||
Operating Profit | 95,141 | 71,983 | -23,158 | -24.3% | |||
1) Medical Platform
In the area of pharmaceutical marketing support, some foreign-affiliated pharmaceutical companies had reduced their budgets in the term, and although digitalization support-related services were affected by this trend in the second half, businesses other than pharmaceutical marketing support, such as DX in the clinical scene, remained strong, resulting in segment revenue of 93,098 million yen, higher by 8.3% versus previous year. Upfront investments aimed for future growth, such as strengthening pharma marketing team, have raised SG&A mainly around personnel costs, however, Medical Platform segment produced profits of 41,147 million yen, higher by 4.0% versus previous year.
2) Evidence Solution
The impact of the temporary suspension of several clinical trial projects due to the spread of Covid-19 infection in the fiscal year ended March 31, 2021 has run its course in the previous fiscal year, and the recovery trend is continuing in the current fiscal year. Due to clinical trial projects related to COVID infection, etc. the Evidence Solution segment produced total sales of 27,157 million yen, higher by 19.3% versus previous year. Segment profit was 7,662 million yen, higher by 35.5% versus previous year.
3) Career Solution
Despite the impact of lower contributions from the vaccination support services for COVID compared to the previous year, job search support services for physicians remained strong. As a result, segment sales revenue was 14,538 million yen, higher by 3.2% versus previous year, and segment profit was 4,644 million yen, lower by 0.0% versus previous year, partly due to a change in the sales composition.
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M3 Inc. published this content on 06 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 June 2023 04:19:11 UTC.