FY2020 Q2
Financial Results Briefing Document
V-cube, Inc.
Aug 13, 2020
Copyright © V-cube, Inc. All Rights Reserved.
Index
1. Progress of the Business in Covid 19 Pandemic
- FY2020 Q2 Results
- Segments and KPIs
- Current Initiatives
- Appendix
Copyright © V-cube, Inc. All Rights Reserved.
Highlights
FY2020.2Q
- Further exceeded the upward-revisedQ2 forecast (operating profit: 116% of the revised forecast, 400 million yen higher than the previous year)
- General-purposeweb conferencing exceeded expectations due to telework-related demand
- Telecube, On-premises, and Web Seminars in pharmaceutical Industry are affected more than 1Q by
declarations of emergencies of covid 19 and will be postponed after Q3
in the first half of FY20 from only the pharmaceutical web seminars)
FY2020 Full year
- In the post-corona era, demand for telework and remote operation in all industries is expected to expand further. (Further focus on communication DX)
- The shift to online seminars in pharmaceutical industry is accelerating. The concept of "SaaS+Service" greatly demonstrates the competitive advantage. Other industries are also seeing surges in face-to-face avoidance inquiries about the online launch of events, and targeted customer industries are beginning to expand
- The forecast for operating profit is raised by 708M yen from the initial forecast of 500M yen, and continues to target 900M yen. The dividend forecast doubles from 1 yen per share to 2 yen.
Copyright © V-cube, Inc. All Rights Reserved. | 3 |
- Progress of the Business in Covid 19 Pandemic
- FY2020 Q2 Results
- Segments and KPIs
- Current Initiatives
- Appendix
Copyright © V-cube, Inc. All Rights Reserved. | 4 |
Growth by Focus Area in 2020
General-purpose web conferencing
①
V-CUBEmeeting
②
Solutions using visual communication
⑤ ⑥ ⑦
Image embedding
(SDK)
Provide API/SDK to meet the demand for videos in various industries, and develop business jointly. (Education/Social/Medical, etc.)
Pharmaceutical
website seminars, etc.
Distribution of web seminars in the pharmaceutical industry. Developed a system for remote detailing, on-line medical care, and medication guidance.
Emergency measures
and disaster
countermeasures
Emergency measures, disaster
countermeasures, and field
support solutions.
③ ④
Copyright © V-cube, Inc. All Rights Reserved.
⑧ ⑨
LMS/TMS
5
Impact of the new coronavirus on main business (trends by quarter)
Negative impact in the short term, but in the medium-tolong-term, the business will be expanded largely.
Q1
① (sales impact +125 mil yen)
Short | Increase in use of web conferencing due to |
- | rapid increase in teleworking population |
term | Demand for online delivery replacements |
(impact | ⑤ SDK that embeddes video services into services |
Mar, | in all industries and realizes online distribution |
③ Delays of On-premises Projects | |
Apr,May) | ④ Delay in Telecube Delivery (sales △: 55 mil yen) |
⑥ Postpone distribution of seminars to the | |
pharmaceutical industry(sales △: 80 mil yen) | |
⑦ Delayed delivery of hardware components of | |
emergency response solutions |
Copyright © V-cube, Inc. All Rights Reserved.
Q2
① (cumulative sales impact +487 mil yen)
Increase in pipeline and new project wins
Increase sales of Zoom
Ongoing orders for online seminars from various industries
⑤ Expansion of pay-as-you-go billing based on the number of minutes delivered as customers become more active in the online business (Cumulative sales forecast 82 mil yen, actual 140 mil yen)
⓷ Continued delays in order and delivery
④ Corporate Sales fell short of the plan due to delays in delivery, but large increase YoY Continued delivery delays for public use
⑥ Recovered from mid-June and expected to exceed full-year and 2H forecasts(cumulative sales impact: △255 mil yen)
⑦ Continued delays in order and delivery
6
Figures in ( ) are the difference between Q2 results and initial plan | |
Growth by Focus Area in 2020 -Compared to Q2 Plan | (OP 500 mil yen) |
Figures in [ ] are initial full-year plan (OP 500 mil yen) |
General-purpose web conferencing
Sales :1,651 (+487) [2,220]
MP: 1,329 (+410) [1,770]
V-CUBEmeeting
Sales :40 (▲32) [164]
MP: 17 (▲8) [57]
( Millions of yen)
Solutions using visual communication
Sales :140 (+58) Sales : 334 (▲255) Sales :205 (▲42)
[236] | [1,217] | [545] | |||
MP: 122 (+42) | MP: 251 (▲221) | MP: 149 (▲2) | |||
[228] | [975] | [335] | |||
Sales :173(▲141) | Sales: 269 (▲66) |
[532] | [1,064] |
Image embedding
(SDK)
Provide API/SDK to meet the demand for videos in various industries, and develop business jointly.
(Education/Social/Medical, etc.)
Pharmaceutical
website seminars, etc.
Distribution of web seminars in the pharmaceutical industry. Developed a system for remote detailing, online medical care, and medication
guidance.
Emergency measures
and disaster
countermeasures
Emergency measures, disaster
rcountermeasures, and field support
solutions.
MP: 139 (▲133) | MP 128 (▲14) |
[464] | [308] |
Sales :97 (+6) [214] | Sales: 167 (▲19) [380] |
MP: 56 (▲2) [144] | MP: 151 (▲16) [344] |
LMS/TMS
MP : Marginal Profit (Sales - Variable Cost)
Copyright © V-cube, Inc. All Rights Reserved. | 7 |
Capturing the Demand for Web Conferences in Covid 19 pandemic
Pipeline continues to grow in unprecedented numbers, and web conferencing usage remains in place even after the state of emergency is lifted.
The use of online seminars is greatly expanding.
Number of inquiries | Number of seminars (events) | |
Before Covid19
Before Covid19
19/08 | 19/09 | 19/10 | 19/11 | 19/12 | 20/01 | 20/02 | 20/03 | 20/04 | 20/05 | 20/06 | 20/07 | 19/08 | 19/09 | 19/10 | 19/11 | 19/12 | 20/01 | 20/02 | 20/03 | 20/04 | 20/05 | 20/06 | 20/07 |
V-CUBE Meetings
Number of ports(Number of concurrent connections)
V-CUBE Meeting hours
19/08 | 19/09 | 19/10 | 19/11 | 19/12 | 20/01 | 20/02 | 20/03 | 20/04 | 20/05 | 20/06 | 20/07 |
Copyright © V-cube, Inc. All Rights Reserved. | 8 | ||||||||||
1. Progress of the Business in Covid 19 Pandemic
- FY2020 Q2 Results
- Segments and KPIs
- Current Initiatives
- Appendix
Copyright © V-cube, Inc. All Rights Reserved.
FY2020 Q2 Results : Consolidated P/L
Profitability improved through business selection and concentration, and general-purpose web conferencing, which has a high profit margin, grew rapidly due to the remote shift of society as a whole.
Due to postponement of many projects such as pharmaceutical web seminars and Telecube, expected to be overemphasized in the second half of the fiscal year.
FY2019 | FY2020 | FY2020 full-year forecasts | |||||
(million yen) | Revised | Rate of | |||||
Initial | progress | ||||||
Q2 | Q2 | forecast | |||||
forecast | (vs. Revised | ||||||
(Aug 13th) | |||||||
Forecast) | |||||||
Net sales | 3,111 | 3,266 | 7,237 | 7,201 | 45.4% | ||
Cost of sales | 2,066 | 1,749 | 4,250 | 3,988 | 43.9% | ||
Gross profit | 1,045 | 1,517 | 2,986 | 3,183 | 47.7% | ||
SG & A Exp. | 1,192 | 1,258 | 2,486 | 2,474 | 50.8% | ||
Operating profit | △146 | 259 | 500 | 708 | 36.6% | ||
Ordinary profit | △176 | 266 | 359 | 665 | 40.0% | ||
Profit attributable to | 187 | 422 | 185 | 623 | 67.7% | ||
owners of parent | |||||||
Copyright © V-cube, Inc. All Rights Reserved. | 10 | ||||||
FY2020 Q2 Results : Changes in operating profit (YoY)
Significant growth centered on general-purpose web conferencing and SDK in VC segment
Profitability improved as a result of the sale of a business and a decrease in royalty expenses incurred last year contributed to profits.
350
300
250
200
150
100
50
0
-50
-100
-150
Growth of subsidiary | ( Millions of yen) | ||||||
Wizlearn's corporate | |||||||
Significant growth in | |||||||
general-purpose web | LMS | ||||||
conferencing and SDK | |||||||
14 | |||||||
△33 | |||||||
30 | |||||||
Improve LMS profitability | ||||||||||
by selling iStudy in FY19 | Growth of | Investing | ||||||||
263 | in Internal DX | 259 | ||||||||
Lump-sum royalty | Telecube business | |||||||||
expenses for FY19 | ||||||||||
86
△146
45
-200
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FY2020 Q2 Results : Consolidated C/F
Cash flow from operating activities and free cash flow increased significantly due to growth in the general-purpose web conferencing area, etc.
Cash flow from financing activities: After the temporary repayment of debts at the end of the previous fiscal year, the balance of borrowings was recovered.
(million yen) | June 30, 2019 | June 30, 2020 |
Cash flows from operating activities | 209 | 957 |
Cash flows from investing activities | △153 | △252 |
Cash flows from financing activities | △702 | 898 |
Free cash flow | 56 | 704 |
Effect of exchange rate change on cash | △9 | △17 |
and equivalents | ||
Increase/decrease in cash and | △655 | 1,585 |
equivalents | ||
Cash and equivalents,end of period | 2,064 | 2,376 |
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FY2020 Q2 Results : Consolidated B/S
Net Debt (net interest-bearing debt) decreased from about 1.4 billion yen to about 0.7 billion yen, improving
financial stability, Equity ratio is 40.9%
(million yen) | December 31, 2019 | June 30, 2020 | Change |
Current assets | 2,269 | 3,396 | +1,127 |
(Cash and deposits) | (790) | (2,376) | (+1,586) |
Fixed assets | 4,733 | 4,686 | △47 |
(Software) | (2,025) | (2,013) | (△12) |
(Goodwill) | (879) | (800) | (△79) |
Total assets | 7,002 | 8,083 | +1,081 |
Current liabilities | 2,248 | 4,120 | +1,872 |
(Short-term borrowings, current | |||
(546) | (2,584) | (+2,038) | |
portion of long-term debt) | |||
Long-term liabilities | 1,705 | 623 | △1,082 |
(Long-term loans payable) | (1,663) | (533) | (△1,130) |
Net assets | 3,049 | 3,339 | +290 |
Copyright © V-cube, Inc. All Rights Reserved. | 13 |
Shareholder Returns
Dividend forecast is raised on Aug 13.
Shareholder return policy will be continuously implemented while taking into account the financial situation
• | FY2020 year-end dividend forecast: 2 yen, FY2019 year-enddividend: 1 yen | ||
Dividend | • | In principle, it aims for a dividend payout ratio of 20% against profit attributable to | |
owners of parent excluding 1-time profits and aims for a dividend payout ratio of | |||
30% in the future. | |||
Shareholder
benefit
program
• | FY2019 Gift of 10 thousand yen worth of | |
Telecube tickets | ||
(Applicable to shareholders who hold 100 or | ||
more shares as of the end of December) | ||
• | Usage period: April 1 to December 31, 2020 | → here to use |
Copyright © V-cube, Inc. All Rights Reserved. | 14 |
1. Progress of the Business in Covid 19 Pandemic
- FY2020 Q2 Results
- Segments and KPIs
- Current Initiatives
- Appendix
Copyright © V-cube, Inc. All Rights Reserved.
Segment Overview
The profit margin of VC business temporarily deteriorated in the previous fiscal year due to special circumstances, and this fiscal year's
results exceeded the budget.
LMS business became a stable business segment led by Wizlearn of Singapore subsidiary.
AP business grew from the previous year despite delays in Telecube installation due to the closure of client offices and installation sites.
FY2019 | FY2020 | FY2020 | FY2020 | FY2020 | |||||
(million yen) | Q2 revised | Full-year | Full-year | ||||||
Q2 actual | Q2 actual | revised forecast | |||||||
forecast | initial forecast | ||||||||
(Jun 1st) | (Aug 13th) | ||||||||
Visual | Net sales | 2,014 | 2,193 | 2,345 | 4,692 | 4,866 | |||
Communications | Operating profit | 64 | 350 | 413 | 750 | 944 | |||
Business | (Rate) | (3.2%) | (16.0%) | (17.6%) | (16.0%) | (19.4%) | |||
Learning | Net sales | 596 | 411 | 391 | 830 | 825 | |||
Management System | Operating profit | △35 | 40 | 40 | 70 | 90 | |||
Business | (Rate) | (-%) | (9.7%) | (10.2%) | (8.4%) | (10.9%) | |||
Appliance | Net sales | 500 | 691 | 529 | 1,715 | 1,510 | |||
Operating profit | 51 | 93 | 66 | 218 | 203 | ||||
Business | |||||||||
(Rate) | (10.2%) | (13.5%) | (12.5%) | (12.7%) | (13.4%) | ||||
Net sales | - | - | - | - | - | ||||
Corporate expenses | Operating profit | △227 | △260 | △260 | △538 | △528 | |||
(Rate) | (-%) | (-%) | (-%) | (-%) | (-%) | ||||
Net sales | 3,111 | 3,295 | 3,266 | 7,237 | 7,201 | ||||
Total | Operating profit | △146 | 223 | 259 | 500 | 708 | |||
(Rate) | (-%) | (6.8%) | (7.9%) | (6.9%) | (9.8%) | ||||
【Abbreviation】 VC: Visual Communications, LMS: Learning Management System, AP: Appliance | |||||||||
Copyright © V-cube, Inc. All Rights Reserved. | 16 | ||||||||
Visual communication business
Achieved Q2 forecasts. Steady build-up of pipelines sharply spurred by the covid 19 pandemic, with monthly subscription on an upward
trend
Annual subscribers increased YoY despite the postponement of pharmaceutical web seminar projects under the emergency
declaration.
FY2019 | FY2020 | FY2020 | FY2020 | |||||||||||
(million yen) | Q2 revised | Full-year | ||||||||||||
revised | ||||||||||||||
Q2 actual | forecast | Q2 actual | ||||||||||||
forecast | ||||||||||||||
(Jun 1st) | ||||||||||||||
(Aug 13th) | ||||||||||||||
Net sales | 2,014 | 2,193 | 2,345 | 4,866 | ||||||||||
Operating profit | 64 | 350 | 413 | 944 | ||||||||||
(Rate) | (3.2%) | (16.0%) | (17.6%) | (19.4%) | ||||||||||
Subscription-type sales | Lost revenue due to postponement of | |||||||||||||
(million yen) | Monthly subscription | Annual subscription | pharmaceutical web seminars | |||||||||||
1,200 | ||||||||
1,000 | ||||||||
800 | 287 | 347 | 293 | |||||
243 | 322 | 329 | ||||||
600 | 289 | 203 | 274 | 258 | ||||
400 | ||||||||
658 | ||||||||
200 469 515 525 536 513 494 504 510 512
0
FY18.1QFY18.2QFY18.3QFY18.4QFY19.1QFY19.2QFY19.3QFY19.4QFY20.1QFY20.2Q
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Annual subscription
Account plan for seminar distribution in the pharmaceutical, financial and HR industries
Record sales at each meeting
Monthly subscription
Monthly contracts and long-term contracts with maturities of 6 months or more
Record monthly fixed sales
17
Visual communication business KPIs
Billing price and number of billing companies rose due to increased web conferencing demand.
Churn rate increases temporarily as the old V-CUBE seminar system comes to end.
No. 1 market share for 13 consecutive years
Monthly subscription KPI | in the Japanese web conferencing (announced on March 24, 2020) |
Average monthly billing price (thousand yen)
FY14 | FY15 | FY16 | FY17 | FY18 | FY19 | FY20 | FY20 | |
1Q | 2Q | |||||||
139 | 137 | 134 | 137 | 141 | 139 | 137 | 143 | |
No. of billing companies | ||||||||
FY14 | FY15 | FY16 | FY17 | FY18 | FY19 | FY20 | FY20 | |
1Q | 2Q | |||||||
1,065 | 1,155 | 1,225 | 1,228 | 1,211 | 1,215 | 1,245 | 1,393 |
ASP(SaaS) Type+SI(On-premises)Type
Other, 30% | V-cube28% |
Churn rate (%)
19/4 | 19/7 | ||||||
FY14 | FY15 | FY16 | FY17 | FY18 | FY19 | ~ | ~ |
20/3 | 20/6 | ||||||
19.0 | 16.9 | 13.7 | 14.4 | 12.2 | 10.7 | 10.4 | 11.9 |
Differentiation from competitors
Security
Privacy
Support
(Respond to Japanese 24 hours a day, 365 days a year)
ZCompany10% | Company |
C, 22% | |
Company J, | |
10% |
For Seed Planning Inc.'s 2020 Video Conference/Web Conference
Latest Markets and Video Communication Equipment and Service Trends
Copyright © V-cube, Inc. All Rights Reserved. | 18 |
Visual communication business- web seminars in pharmaceutical industry
Despite a significant decline from March to mid-June 2020 due to the impact of the new coronavirus, the number of seminars is expected to exceed the initial forecast in the 2H of FY20 due to the recovery of delayed projects and the acceleration of the shift to online.
(times)
281
244
197 | 192 198 | 191 | 236 | ||||
Self restraint | |||||||
173 | 173 | period | |||||
164 | |||||||
144 | 138 | ||||||
136 | 127 | ||||||
102 | 102 | 101 | |||||
56 | |||||||
43 | |||||||
Copyright © V-cube, Inc. All Rights Reserved. | 19 |
Learning management system business
Singapore-based Wizlearn provides online learning/training platforms for schools and companies.
Delay in some services for companies due to impact of the coronavirus lockdown.
FY2019 | FY2020 | FY2020 | FY2020 | |
(million yen) | ||||
Q2 revised | Full-year | |||
Q2 actual | forecast | Q2 actual | revised forecast | |
(Jun 1st) | (Aug 13th) | |||
Net sales | 596 | 411 | 391 | 825 |
(iStudy | 475 | 411 | 391 | 825 |
Excluding net sales) | ||||
Operating profit | △35 | 40 | 40 | 90 |
(Rate) | (-%) | (9.7%) | (10.2%) | (10.9%) |
(thousand SGD) | WizlearnSales Breakdown | ||||||||||||
14,000 | |||||||||||||
12,000 | |||||||||||||
10,000 | |||||||||||||
8,000 | |||||||||||||
6,627 | 6,491 | 5,124 | 3,470 | ||||||||||
6,000 | |||||||||||||
4,000 | |||||||||||||
4,940 | |||||||||||||
2,000 | 3,120 | 3,655 | 4,053 | ||||||||||
0 | |||||||||||||
FY17 | FY18 | FY19 | FY2020 | ||||||||||
prospects | |||||||||||||
For companies | For schools | ||||||||||||
Neighboring countries | Other support, etc. | ||||||||||||
----------Factors of change ----------
[Sales]
・ Until FY19.Q1: iStudy (currently Kushim) consolidated ・ Wizlearn sales account for approximately 90%
[Profit] Wizlearn
・ Schools: Secure stable profit margins with recurring revenue
・ Companies: Stock revenue + specific customized projects
Copyright © V-cube, Inc. All Rights Reserved. | 20 |
Appliance business
Delivery delays continue in Telecube due to covid 19 pandemic.
Although sales to corporate customers fell short of the plan, increased significantly compared to the previous year.
FY2019 | FY2020 | FY2020 | FY2020 | |
(million yen) | ||||
Q2 forecast | Full-year | |||
Q2 actual | Q2 actual | forecast | ||
(6/1 revised) | ||||
(8/13 revised) | ||||
Net sales | 500 | 691 | 529 | 1,510 |
Operating profit | 51 | 93 | 66 | 203 |
(Rate) | (10.2%) | (13.5%) | (12.5%) | (13.4%) |
Number of Telecube installation(quarterly)
corporate | corporate(subsc) | public space | |||||||
25 | |||||||||
(Units) | 9 | ||||||||
23 | |||||||||
18 | |||||||||
37 | 240 | ||||||||
15 | |||||||||
156 | |||||||||
3 | |||||||||
10 | 80 | 91 | |||||||
66 | |||||||||
43 | |||||||||
FY19.1Q FY19.2Q FY19.3Q FY19.4Q FY20.1Q FY20.2Q
Number of Telecube installation (total)
corporate | corporate(subsc) | public space |
113
27
(Units)
90
9
65 715
50 559
13 | 319 | |
10 | 148 | 228 |
82 |
FY19.1Q FY19.2Q FY19.3Q FY19.4Q FY20.1Q FY20.2Q
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Telecube Business Outline
To be the social infrastructure that provides a place to telework.
Due to the impact of the coronavirus, demand from the public sector is increasing in living areas, while demand from the corporate sector is increasing for private rooms where employees can work safely.
In the future, aim to expand the use other than telework such as governmental procedures.
Classification | Commercial | Sales Models on our | Remarks | FY2020 target | ||
distribution | viewpoint | |||||
Direct sales & | Sellout | Use of private space, such as | 500 to 1000 units | |||
shortage of conference rooms and | ||||||
For corporates | regular distributor | Subscription | (396 at the time of 2Q) | |||
work concentration | ||||||
(FY19:280 units) | ||||||
Sales agency of | Royalty income | Record royalty income not | ||||
OKAMURA | entering the commercial flow | |||||
Telecube | To install in office entrances, | |||||
Services | Sellout | complexes, and private railway | 200 to 400 units | |||
Inc. | stations | |||||
For public spaces | JR East: "STATION | |||||
BOOTH" scheduled to be | ||||||
(FY19:65 units) | ||||||
Established as "STATION BOOTH" | deployed to 30 stations | |||||
JR East | Sellout | in the station premises | in 2020 (delayed due to | |||
the corona problems) | ||||||
Introduced to "STATION DESK", a | ||||||
shared office | ||||||
Average Prices per Unit (FY2020) Sell-out: 2,982 thousand yen Subscription: 85 thousand yen | ||||||
Copyright © V-cube, Inc. All Rights Reserved. | 22 | |||||
1. Progress of the Business in Covid 19 Pandemic
- FY2020 Q2 Results
- Segments and KPIs
- Current Initiatives
5. Appendix
Copyright © V-cube, Inc. All Rights Reserved.
FY2020 Forecast (Revised Forecast on August 13, 2020)
Operating profit forecast revised upward from 500 million yen to 700 million yen
FY2019 | FY2020 | YoY | ||||
(million yen) | ||||||
Full-year results | Revised forecast | Change | Rate of change | |||
(Aug 13th) | ||||||
Net sales | 6,369 | 7,201 | +832 | +13.1% | ||
Cost of sales | 4,056 | 3,988 | △68 | △1.7% | ||
Gross profit | 2,313 | 3,183 | +870 | +37.6% | ||
SG & A Exp. | 2,598 | 2,474 | △124 | △4.8% | ||
Operating profit | △284 | 708 | +992 | ー % | ||
Ordinary profit | △341 | 665 | +1,006 | ー % | ||
Profit attributable to | 34 | 623 | +579 | +1,732.4% | ||
owners of parent | ||||||
Targets: Net sales 7.8 billion yen, Operating profit 900 million yen
Copyright © V-cube, Inc. All Rights Reserved. | 24 |
V-cube's Strategy
Growth Strategy: Communication DX "SaaS + Service"
SaaS | + | Service | ||||||
DX support through technology | DX support through professional services | |||||||
V-CUBEmeeting | ||||||||
Transformation of | × | Establishment of | ||||||
Communication Culture | Communication Culture | |||||||
⇒ Introduction support | ⇒ Operational support | |||||||
To increase the number of | Establishment of a model specializing in | Strengthening Support Capabilities | ||
subscribers | the industry | |||
Enhancement of service lineup | High added value through | Increase in the number and unit |
tailored to | customization tailored to | price of projects through |
the communication scene | business practices and business | operanal support and |
flow | the establishment of culture | |
Copyright © V-cube, Inc. All Rights Reserved. | 25 | |
V-cube's Strategy
(e.g.) SaaS + Service in event delivery
SaaS | + | Service |
DX support through technology | DX support through professional services | |
Transformation of | × | Establishment of |
Communication Culture | Communication Culture | |
Introduction support | Operational support | |
To increase the number of | Establishment of a model specializing in | Strengthening Support Capabilities | ||
subscribers | the industry | |||
Shift from Offline to Online | Job fair | Extensive support in studios, |
Industry-wide expansion | Virtual shareholder's meeting | conference rooms and other |
Upselling by improving efficiency | Pharmaceutical web seminar | locations |
In-house training/meetings | ||
Copyright © V-cube, Inc. All Rights Reserved. | 26 | |
Featured Solutions - SDK(Software Development Kit)
Implement a video communication service with high quality video and audio functions to match the UI of other companies' services
Increasing demand for online service launches and enhancements, and use is rapidly increasing
Live distribution platform
Live for PCs and smartphones Large-scale video distribution service infrastructure
Online interactive platform
Interactive visual communication infrastructure
・ Online English conversation school
・ Online fitness
・ Online hiring interview
Number of minutes of use of SDK
2019/01 | 2019/02 | 2019/03 | 2019/04 | 2019/05 | 2019/06 | 2019/07 | 2019/08 | 2019/09 | 2019/10 | 2019/11 | 2019/12 | 2020/01 | 2020/02 | 2020/03 | 2020/04 | 2020/05 | 2020/06 | 2020/07 |
Copyright © V-cube, Inc. All Rights Reserved. | 27 |
Communication DX Company
Copyright © V-cube, Inc. All Rights Reserved. | 28 |
1. Progress of the Business in Covid 19 Pandemic
- FY2020 Q2 Results
- Segment and KPIs
- Current Initiatives
- Appendix
Copyright © V-cube, Inc. All Rights Reserved.
Mission Statement
Provide Even Opportunity to Everybody
We want to create a world where everyone can get even opportunity in any circumstances.
We believe that we can realize more affluent society
by reducing the time and distance of face-to-face communication.
The world is facing social issues such as extreme concentration of population and industry in
city area, declining birthrate and aging society, long working hours, educational and
healthcare gaps, etc.
We aim to provide even opportunity to everybody
by solving these social issues with our Visual Communication solutions.
Copyright © V-cube, Inc. All Rights Reserved.
Initiatives for SDGs
V-cube resolves social issues through business operations
Visual communication eliminates time and distance limitations so that
everyone has equal access to education, employment, health care, and other
opportunities.
Contributing to the realization of diverse working styles tailored to individual circumstances, regardless of gender or region of residence
The widespread use of telework will reduce the burden of travel and contribute to the realization of a society where people can work and live comfortably.
Meetings can be held and countermeasures can be considered even in the event
of a disaster or other emergency without having to come to work.
Telework has become the norm, reducing wasteful travel and
contributing to the reduction of CO2 emissions associated with travel.
Copyright © V-cube, Inc. All Rights Reserved. | 31 |
Segment Overview
Visual Communication Business
- V-CUBEMeeting ; V-CUBE Seminar ; V-CUBE Video SDK ; V-CUBE Salesplus ; Agora.io ; Krisp; Qumu
- V-cube'sservice lineup at each subsidiary
Learning Management System Business
- [Wizlearn Technologies Pte. Ltd.] AsknLearn
Appliance Business
- Telecube, V-CUBE Box, V-CUBE devices (microphones, speakers, cameras, etc.), and V-CUBE boards (disaster countermeasure solutions)
Copyright © V-cube, Inc. All Rights Reserved. | 32 |
Corporate Summary (As of June 30, 2020)
Communication DX Company
Company name
Established
Fiscal year end
Capital (including capital
reserve)
Listed Markets
Group companies
Number of members
V-cube, Inc.
October 16, 1998
December
2,881 million JPY
The 1st Section of the Tokyo Stock Exchange (3681)
Domestic 3, Overseas 5.
(3 in Singapore, 1 in United States, 1 in Thailand.)
Board members 15・ Employees 370(consolidated)
*As of June 30, 2019
Copyright © V-cube, Inc. All Rights Reserved.
Group Companies (As of June 30, 2020)
V-cube, Inc. and 6 subsidiaries operate in Japan, USA and ASEAN area.
Singapore
V-cube,Inc.
Telecube,Inc. | V-cube Global Services Pte. Ltd. | V-cube USA, Inc. | ||||||
Telecube Service,Co.Ltd.
※Equity Method Affiliate
Wizlearn Technologies Pte. Ltd. | V-cube (Thailand) Co., Ltd. |
Pave Education Pte. Ltd.
Other group company: SENSYN ROBOTICS, Inc.
Copyright © V-cube, Inc. All Rights Reserved.
Company History
Established V-cube Internet Co., Ltd. and undertook web production, system development, and app development on consignment
Reorganized as a joint-stock company | |||||||||||||||||||||||||||
Began developing and selling web conferencing for in-house use due to high video conferencing costs | |||||||||||||||||||||||||||
Renamed as V-cube,Inc. and decided to specialize in visual communications | |||||||||||||||||||||||||||
Started investing from Intel Capital and expanding business in Asian countries | |||||||||||||||||||||||||||
Listed its shares on the MOTHERS | |||||||||||||||||||||||||||
Listing on TSE First Section | |||||||||||||||||||||||||||
1998 | 2001 | 2004 | 2009 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | |||||||||||||||
2003 V-cube USA, INC | |||||||||||||||||||||||||||
2009 V-cube Malaysia Sdn. Bhd. | Sale | ||||||||||||||||||||||||||
2012 V-cube Global Services Pte. Ltd. Singapore | |||||||||||||||||||||||||||
Net sales (million yen) | 2012 PT. V-cube INDONESIA | Sale | |||||||||||||||||||||||||
2013 V-Cube (Tianjin) Technologies Co., Ltd. | Sale | ||||||||||||||||||||||||||
Associated company | |||||||||||||||||||||||||||
7,960 | |||||||||||||||||||||||||||
Non-consolidated | 7,239 | 2014 Pioneer VC | Sold electronic smart board business after merger | ||||||||||||||||||||||||
6,638 | |||||||||||||||||||||||||||
Overseas ratio 6,083 | 6,369 | 2015 Wizlearn Technologies Pte. Ltd. | |||||||||||||||||||||||||
26.5% | |||||||||||||||||||||||||||
4,681 | 21.4% | 2015 iStudy Co., Ltd. | |||||||||||||||||||||||||
17.1% | Sale | ||||||||||||||||||||||||||
2,525 14.7% | 15.6% | 2016 V-cube (Thailand) Co., Ltd. | |||||||||||||||||||||||||
19.8% | |||||||||||||||||||||||||||
9.5% | 3,540 | 3,972 | 3,483 | 5,924 | 5,020 | 2019 Telecube | |||||||||||||||||||||
3,149 | |||||||||||||||||||||||||||
2,419 | |||||||||||||||||||||||||||
2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | |||||||||||||||||||||
Copyright © V-cube, Inc. All Rights Reserved. | 35 | ||||||||||||||||||||||||||
Exchange rates of major currencies
FY19 | FY20 | |||||
Full year | Full year | Yearly average | Year-end | Full year | ||
(Initial | ||||||
(Results) | (Results) | (assumption) | ||||
(Yen) | expectations) | |||||
US$ | 111.00 | 109.06 | 109.55 | 111.00 | ||
S$ | 81.00 | 79.95 | 81.06 | 81.00 | ||
Q2 | FY19 Q2 | FY20 Q2 | FY19 Q2 | FY20 Q2 | ||
Yearly | Yearly average | Year-end | Year-end | |||
average | ||||||
(Results) | (Results) | (Results) | ||||
(Yen) | (Results) | |||||
US$ | 110.06 | 108.30 | 106.27 | 107.74 | ||
S$ | 80.99 | 77.47 | 81.01 | 77.32 | ||
Copyright © V-cube, Inc. All Rights Reserved. | 36 | |||||
Management Team (as of June 30, 2020)
Management team consisting mainly of members from the time of founding
President,CEO & FounderManaging Director,CRO
Naoaki Mashita | Jun Mizutani | ||
1977 | Born in Tokyo | 2006 | Entered V-cube Inc. (as new graduate) |
1988 | Established V-cube Inc. | 2009 | Group Manager of Sales Division |
2000 | Graduated from Keio University | 2012 | Vice manager of Sales Division |
2002 | Graduated from Keio Graduate School | 2014 | Manager of Customer Experience |
2003 | Established V-cube USA, Inc. | 2015 | General Manager of Sales Division |
2009 | Established V-cube Malaysia | 2016 | Director of V-cube Inc. (in charge of sales) |
2012 | Established V-cube@Singapore | 2019 | Managing Director of V-cube Inc. |
2012 | Established P.T. V-cube Indonesia |
2015 Established V-cube Robotics
Vice President,COO | CTO |
Masaya Takada | Yosuke Kamesaki |
2001 Director of V-cube Internet Co., Ltd.
2002 Graduated from Keio Graduate School
2006 Vice president of V-cube Inc.
2012 Executive Vice President of V-cube Inc.
2002 Joined V-cube Internet Co., Ltd.
2003 Developed the prototype for the web conference
2007 Executive Officer of V-cube Inc.
2012 Director of V-cube Inc. (in charge of technology)
Copyright © V-cube, Inc. All Rights Reserved. | 37 |
Outside directors (as of June 30, 2020)
Corporate Governance by Experienced and Strong Outside Directors and Audit & Supervisory Board Members
Title | Name | Career summary |
Representative director, Murakami Norio Office,Inc. | ||
Outside director | Norio Murakami | Outside director, Cell Source Co.,Ltd. , |
Former Vice president, Google, Inc. and President, Google,Inc. | ||
Outside director, Hakusan.Inc. | ||
Outside director | Kenichi Nishimura | Former President, NTT-Neomeit |
Former Advisor, Mirait,Inc. | ||
Outside director | Hajime Nakano | Senior director, Reginal Economy Vitalization Corporation of Japan |
Director, REVIC Partners | ||
Outside director | Naomi Koshi | Former attorney for Nishimura Asahi Law Office |
Former mayor of Otsu City | ||
Full-time outside | Kikuo Fukushima | Representative, Success Coaching Studio |
auditor | ||
Outside auditor | Kiyoji Odashima | Representative tax attorney, Odajima Kiyoji Tax Account Office |
Outside auditor, Ebara Foods Industry,Inc. | ||
Outside auditor | Arifumi Sunada | Senior director, Reginal Economy Vitalization Corporation of Japan |
Senior director, REVIC Partners | ||
Copyright © V-cube, Inc. All Rights Reserved. | 38 |
Status of Group Employees (as of June 30, 2020)
By group | By region | By function | ||||||||||||||||||||||||||||||||||||||
V-cube | Subsidiaries | Japan | Singapore | Others | Technical | Sales | Admn. | |||||||||||||||||||||||||||||||||
402 | ||||||||||||||||||||||||||||||||||||||||
402 | 402 | 370 | 370 | |||||||||||||||||||||||||||||||||||||
370 | ||||||||||||||||||||||||||||||||||||||||
9 | 52 | |||||||||||||||||||||||||||||||||||||||
15 | 59 | |||||||||||||||||||||||||||||||||||||||
166 | 153 | |||||||||||||||||||||||||||||||||||||||
127 | 108 | 129 | ||||||||||||||||||||||||||||||||||||||
131 | ||||||||||||||||||||||||||||||||||||||||
236 | 234 | 240 | 247 | 221 | 180 | |||||||||||||||||||||||||||||||||||
'19/12 | '20/6 | '19/12 | '20/6 | '19/12 | '20/6 | |||||||||||||||||||||||||||||||||||
Number of Staff | ||||||||||||||||||||||||||||||||||||||||
500 | 450 | V-cube | Subsidiaries | |||||||||||||||||||||||||||||||||||||
457 | 420 | 402 | 370 | |||||||||||||||||||||||||||||||||||||
296 | ||||||||||||||||||||||||||||||||||||||||
201 | 213 | 174 | 166 | |||||||||||||||||||||||||||||||||||||
136 | ||||||||||||||||||||||||||||||||||||||||
204 | 249 | 244 | 246 | 236 | 234 | |||||||||||||||||||||||||||||||||||
'16/12 | '17/12 | '18/12 | '19/6 | '19/12 | '20/6 | |||||||||||||||||||||||||||||||||||
Copyright © V-cube, Inc. All Rights Reserved. | 39 | |||||||||||||||||||||||||||||||||||||||
Disclaimer
This documents contains forecast, target, plans and other future-related information of V-cube,
Inc. (including all subsidiaries). This information stated in this documents is based on the information at hand when creating this document. The statements in this document is based on the aforementioned principle. The statements and prerequisite stated in this documents is only a prediction and forecast of the future, we do not guarantee all statements will be realized
in the future. Please refer to V-cube's summary of accounts, securities report, disclosure
magazines, annual report, etc., for uncertainty and risks of the information in this document. The information in this documents was received at the time of creating this documents, thus for changes occurred after the creating of the documents, V-cube does not resume responsibility of updating the information. Your understanding is appreciated.
Information disclosed regarding other companies in this document are from public releases, in case of misinterpretation, V-cube do not guarantee the accuracy of this information. V-cube does not resume responsibility for any misinterpretation, mistake, or damages caused by the use of this document and the data used in this documents. Your understanding is appreciated. V-cube claims all rights of this documents, please do not by any means or purposes, electronically or mechanically copy or forward this documents.
Copyright © V-cube, Inc. All Rights Reserved.
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V-cube Inc. published this content on 13 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 August 2020 08:47:19 UTC