FY 2010 1St Quarter Results
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FYFY 20201010 1st1st QuarterQuarter ResultsResults August 3rd, 2009 SEGA SAMMY HOLDINGS INC. [Disclaimer] The contents of this material and comments made during the questions and answers etc of this briefing session are the judgment and projections of the Company’s management based on currently available information. These contents involve risk and uncertainty and the actual results may differ materially from these contents/comments. ※Numbers of plan for the year ended March 30, 2010 on this documents are based on the numbers publicized on May 13, 2009 © SEGA SAMMY HOLDINGS INC. All Rights Reserved. Contents 【FY2010 1st Quarter Results】 FY 2010 1Q Highlight 2 Consolidated Income Statement 3 Cost and Expenses 4 Consolidated Balance Sheet 5 Segment Information 6 Segment Results :Pachislot Pachinko 6 Segment Results :Amusement Machine 10 Segment Results :Amusement Facilities 12 Segment Results :Consumer Business 14 Listed Subsidiaries Results 18 Sammy Networks / SEGA TOYS 19 TAIYO ELEC / TMS Entertainment 20 Appendix 22 -1- © SEGA SAMMY HOLDINGS INC. All Rights Reserved. Highlights ・Net Sales:60.4 Billion, Operating loss:7.8 Billion (8.5 Billion), Net loss:10.2 Billion (10.9 Billion) Net Sales・Profits *Numbers shown in parentheses are based on previous accounting policy ・Decreased sales, but operating loss shrunk year on year, in line with plan ⇒No adjustment to interim and full year plan ・Increased sales and decreased operating loss compare to prior period ・Pachislot unit sales :With no launch of new titles planned during the 1Q, Overall Pachislot Pachinko unit sales decreased year on year ・Pachinko sales above last year level with introduction of new titles despite postponement of one title Segment Overview ・ With no launch of new major titles planned during the 1Q, sales decreased year over year and posted operating loss Amusement Machine ・Largely sold cards and other consumables for amusement machine as well as sales of the product we introduced in the previous fiscal year ・Decreased sales year on year due to decrease in number of facilities, but reduced operating loss Amusement Facilities ・SEGA same store sales performed at a lower in year-on-year terms ・Closed 25 facilities in 1Q ・Decreased sales and expanded operating loss compared with previous fiscal year Consumer that had sales of major titles ・To introduce main titles of this fiscal year in second half -2- © SEGA SAMMY HOLDINGS INC. All Rights Reserved. Consolidated Income Statement ( JPY Billion) FY 2009 FY 2010 (※ ) Before change in accounting policy After change in accounting policy 1Q Interim FY Results Results Results 1Q YoY Interim FY 1Q Interim FY Results Change Plan Plan Results Plan Plan Net Sales 74.6 200.4 429.1 60.4 -19.0% 163.0 420.0 60.4 163.0 420.0 Pachinko Pachislot 12.0 65.2 161.6 19.6 +63.3% 78.5 186.0 19.6 78.5 186.0 Amusement Machines 13.7 34.4 61.9 7.8 -43.1% 18.0 43.0 7.8 18.0 43.0 Amusement Facilities 17.4 37.1 71.3 14.1 -19.0% 26.5 52.0 14.1 26.5 52.0 Consumer 30.5 61.9 131.3 18.0 -41.0% 38.5 136.0 18.0 38.5 136.0 Other 0.8 1.6 2.9 0.7 -12.5% 1.5 3.0 0.7 1.5 3.0 Operating Income -10.2 -7.5 8.3 -8.5 - -15.0 22.0 -7.8 -12.5 27.0 Pachinko Pachislot -4.3 -1.0 14.5 -1.0 - 3.0 22.0 -1.0 3.0 22.0 Amusement Machines 0.7 4.6 6.8 -1.2 - -2.5 2.0 -1.0 -2.3 2.5 Amusement Facilities -1.5 -2.8 -7.5 -0.1 - -0.8 -1.0 -0.1 -0.8 -1.0 Consumer -4.1 -5.9 -0.9 -5.0 - -11.7 4.0 -4.5 -9.4 8.5 Other 0.0 0.2 0.3 0.1 - 0.0 0.0 0.1 0.0 0.0 Eliminations -1.0 -2.6 -4.9 -1.1 - -3.0 -5.0 -1.1 -3.0 -5.0 Operating Margin - - 1.9% - - - 5.2% - - 6.4% Ordinary Income -9.8 -8.4 6.6 -8.7 - -15.5 21.0 -8.0 -13.0 26.0 Ordinary Income Margin - - 1.5% - - - 5.0% - - 6.2% Net Income -10.5 -9.5 -22.8 -10.9 - -17.0 10.0 -10.2 -14.5 15.0 Net Income Margin -- - - - - 2.4% - - 3.6% Dividend per share (JPY) -1530--1530-1530 Earning per share (JPY) -41.81 -37.92 -90.83 - - - - -40.86 -57.56 59.54 Net Assets per share (JPY) 989.32 990.09 882.47 - - - - 837.05 -- ※FY 2010 1Q numbers before change in accounting policy are unaudited information (reference) -3- © SEGA SAMMY HOLDINGS INC. All Rights Reserved. Cost and Expenses (JPY Billion) FY 2009 FY 2010 (※ ) Before change in accounting policy After change in accounting policy 1Q Interim FY Results Results Results 1Q YoY Interim FY 1Q Interim FY Results Change Plan Plan Results Plan Plan (※ ) R&D expense 16.6 30.4 59.6 12.5 -24.7% 28.2 56.2 11.8 25.7 51.2 Cap-ex 6.5 14.5 26.6 2.7 -58.5% 8.6 16.9 2.7 8.6 16.9 Depreciation 5.4 11.9 26.6 3.5 -35.2% 7.9 18.2 3.5 7.9 18.2 Advertising 4.1 11.2 20.7 2.7 -34.1% 8.7 22.5 2.7 8.7 22.5 ※FY 2010 1Q numbers before change in accounting policy are unaudited information (reference) ※ R&D expense of this material includes content production expense Summary of FY 2010 1Q Results ■Cap-ex and depreciation decreased significantly due to decrease in amusement facilities year on year ■R&D expenses decreased in amusement machine segment and consumer segment year on year ■Advertisement cost decreased mainly in consumer business segment year on year -4- © SEGA SAMMY HOLDINGS INC. All Rights Reserved. Consolidated Balance Sheet (JPY Million) 【 Assets 】 【 Liabilities and Net Assets 】 Account Prior Current Change Account Prior Current Change Cash and Cash Equivilents 106,436 97,067 -9,369 Accounts Payable 51,298 31,977 -19,321 Accounts Receivable 80,468 42,879 -37,589 Corporate Bond 3,294 16,759 13,465 Securities 26,798 32,494 5,696 Short Term Borrowings 5,467 3,490 -1,977 Inventories 41,541 40,051 -1,490 Other 37,135 26,232 -10,903 Other 31,497 44,664 13,167 流動負債/総資産(比率) 00 Current Asset % 1 -1 Total Current Liabilities 97,194 78,461 -18,733 Total Current Assets 286,740 257,156 -29,584 Corporate Bond 52,834 49,869 -2,965 Tangible Fixed Assets 65,116 63,430 -1,686 Long Term Dept 6,740 6,513 -227 Intangible Fixed Assets 13,242 13,434 192 Other 24,637 24,858 221 Investment Securities 27,732 29,518 1,786 固定負債/総資産(比率) 00 Others 31,107 27,963 -3,144 Total Long-term Liabilities 84,211 81,241 -2,970 Total Liabilities 181,405 159,702 -21,703 固定資産/総資産(比率) Shareholders Equity 246,767 232,692 -14,075 Valuation/Translation Adjustments -24,451 -21,821 2,630 Warrants 1,222 1,193 -29 Minority Interest 18,994 19,737 743 純資産/総資産(比率) 1-1 Total Fixed Assets 137,197 134,347 -2,850 Total Net Assets 242,532 231,801 -10,731 Total Assets 423,938 391,504 -32,434 Total Liabilities and Net Assets 423,938 391,504 -32,434 (JPY Billion) March 31, 2009 June 30, 2009 difference Summary of 1Q Results (JPY Billion) Total assets 423.9 391.5 -32.4 ■Current assets : -29.5 Decrease in account receivable ■Fixed assets : -2.8 Decrease in fixed assets Net assets 242.5 231.8 -10.7 ■Current liability : -18.7 Decrease in account payable Equity ratio 52.4% 53.9% +1.5pt ■Fixed liability : -2.9 Decrease in corporate bond Current ratio 295.0% 327.8% +32.8pt -5- © SEGA SAMMY HOLDINGS INC. All Rights Reserved. Segment Results: Pachislot Pachinko (JPY Billion) FY 2009 FY 2010 1Q Interim FY 1Q YoY Interim FY Results Results Results Results Change Plan Plan Net Sales 12.0 65.2 161.6 19.6 +63.3% 78.5 186.0 Pachis lot 4.8 15.6 33.8 1.6 -66.7% 10.6 51.4 Pachinko 5.2 43.8 116.5 16.0 +207.7% 64.1 128.1 Other 2.0 5.8 11.2 2.0 0.0% 3.8 6.4 Operating Income -4.3 -1.0 14.5 -1.0 - 3.0 22.0 Operating Income Margin - - 9.0% - - 3.8% 11.8% Sales in Unit (Pachislot) 15,048 55,102 123,286 5,111 -66.0% 40,000 180,000 Sales in Unit (Pachinko) 19,704 154,950 391,831 53,748 +172.8% 220,000 450,000 1Q Results 1st Half Outlook Pachislot ■Pachislot unit sales decreased year on year with no launch of Pachislot new titles planned during the 1Q ■Strong sales of Sammy “Pachislot Urusei Yatsura2” ■Repeat orders for Sammy branded “Pachislot Twin Angels 2” ■To introduce Sammy “Pachisot Eureka Seven”, one of our was main orders in 1Q mail titles of this fiscal year ■Pachinko unit sales increased year on year Pachinko ■Review of unit price Pachinko ■ ■Steady Sales of TAIYO ELEC “Pachinko CR Kidou Sold up Sammy “CR GAMERA THE BATTLE Shinsengumi Moeyo Ken 2” PACHINKO ■Launched Sammy “Pachinko CR Hakushon Daimaou 3” ■ ■Postponed introduction of “Pachinko CR Showa Densetsu To introduce Sammy “Pachinko CR Kyutei Nyokan Minami Haruo” (unit supply to GINZA) to 2Q Chamgum no Chikai”, one of our major titles of this fiscal year -6- © SEGA SAMMY HOLDINGS INC.