5 Shadowverse
Total Page:16
File Type:pdf, Size:1020Kb
[Forward-looking statement] The future information, such as earnings forecast, written in this document is based on our expectations and assumptions as of the date the forecast was made. Our actual results could differ materially from those described in this forecast because of various risks and uncertainties. 1 0. Contents 1. Quarterly Results (April - June 2020) 2. Forecast 3. Internet Advertisement Business 4. Game Business 5. Media Business 6. FY2020 2 1. Quarterly Results Quarterly Results April - June 2020 3 1. Quarterly Results Results were in line with the forecast despite COVID-19 FY2020 impact. Sales: 112.8 billion yen down 0.7% YoY Q3 OP: 8.2 billion yen down 12.3% YoY WAU* of “ABEMA” remain stable after lifting of the stay-at- home request. Media Sales: 13.3 billion yen UP 19.2% YoY OP: -4.0 billion yen Sales stay flat year over year despite the effect of COVID- 19. Ad Sales: 64.3 billion yen UP 0.01% YoY OP: 4.7 billion yen down 6.0% YoY Quarterly revenue declined after the anniversaries; however, overall performance went well. Game Sales: 36.7 billion yen down 4.0% YoY OP: 7.5 billion yen down 9.5% YoY *WAU: Weekly Active Users 4 1. Quarterly Results [Consolidated Sales] COVID-19 has impacted on the advertising business. Sales were 112.8 billion yen, down 0.7% year over year. 129.1 117.3 115.6 113.6 111.7 112.8 109.5 110.8 107.5 104.4 101.8 97.9 93.3 89.5 (Billion Yen) 85.6 86.5 76.4 74.0 74.6 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY2016 FY2017 FY2018 FY2019 FY2020 5 1. Quarterly Results [Consolidated OP] 8.2 billion yen, down 12.3% year over year (Billion Yen) 12.9 12.4 11.4 11.2 9.8 9.4 8.6 8.3 8.2 8.2 7.9 7.7 7.4 6.8 6.5 6.3 5.3 4.2 3.6 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY2016 FY2017 FY2018 FY2019 FY2020 6 1. Quarterly Results [SG&A Expenses] Decreased 3.2 billion yen quarter on quarter to 23.7billion yen, due to advertising expenses and cost reduction by remote Earnings Incentives working. 28.9 Other * 27.3 26.3 26.9 Sales related costs 25.6 24.9 25.0 Office costs 24.6 24.5 7.5 25.0 23.7 Personnel 3.1 23.0 23.1 23.4 22.6 7.3 7.0 Advertisement cost 21.6 5.8 7.7 6.4 6.8 7.0 6.8 1.2 4.4 4.9 5.0 6.3 6.5 18.7 7.0 1.2 2.1 (Billion Yen) 5.3 1.2 1.7 2.0 1.3 1.2 1.2 1.3 1.2 1.3 1.3 15.6 16.0 3.9 1.3 1.7 2.1 1.4 1.4 1.5 1.1 2.2 1.5 1.1 1.8 2.0 2.1 1.2 2.2 1.8 2.1 3.5 3.5 1.3 1.6 8.0 2.1 1.3 5.3 6.1 7.9 8.5 1.4 1.2 6.8 7.1 8.4 1.2 7.7 7.6 1.2 6.6 6.8 8.5 8.6 7.2 5.5 7.6 5.0 5.5 9.9 9.1 9.9 7.9 8.1 8.1 7.8 7.0 7.1 6.8 7.3 6.5 6.7 6.1 5.8 6.4 4.4 4.4 5.3 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY2016 FY2017 FY2018 FY2019 FY2020 7 *Other: Outsourcing expenses, R&D expenses, entertainment expenses etc. 1. Quarterly Results [No. of Employees] Total headcount was 5,467 at the end of June. (295 new graduates joined in April) (headcount) 5,433 5,467 11 14 5,282 5,215 11 5,162 370 Investment Development 5,109 5,111 369 11 4,988 12 4,902 14 12 370 Headquarters 15 366 362 15 372 362 Other 350 601 603 4,543 4,537 4,576 352 4,523 608 Game 17 15 596 18 15 490 487 578 Internet Ad 336 344 330 503 4,153 335 501 Media 4,054 3,971 18 3,894 19 425 19 310 357 406 406 22 296 3,623 3,623 297 290 301 1,670 22 21 285 1,644 1,643 1,786 267 303 297 259 1,522 1,554 1,612 1,453 1,459 263 266 1,330 1,346 1,347 1,349 1,267 1,272 1,215 1,253 1,149 1,139 1,964 1,900 1,881 1,894 1,883 1,903 1,822 1,819 1,786 1,802 1,778 1,758 1,754 1,560 1,633 1,530 1,539 1,392 1,401 753 767 830 802 844 798 780 754 791 622 624 681 660 667 703 494 499 578 596 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY2016 FY2017 FY2018 FY2019 FY2020 8 *FY2020 Segment reclassification is reflected from FY2019. 1. Quarterly Results [PL] FY2020 3Q FY2019 3Q FY2020 2Q million yen YoY QoQ Apr-Jun. 2020 Apr-Jun. 2019 Jan.-Mar. 2020 Net Sales 112,854 113,667 -0.7% 129,172 -12.6% Gross profit 32,003 32,917 -2.8% 39,422 -18.8% SG&A expenses 23,724 23,473 1.1% 26,924 -11.9% Operating profit 8,279 9,444 -12.3% 12,498 -33.8% OPM 7.3% 8.3% -0.9pt 9.7% -2.3pt Ordinary profit 8,229 9,444 -12.9% 12,509 -34.2% Extraordinary income 7 112 -93.1% 78 -90.1% Extraordinary loss 3,009 3,237 -7.0% 1,532 96.4% Income before income taxes 5,228 6,319 -17.3% 11,055 -52.7% and non-controlling interests Net profit* 1,118 689 62.2% 3,304 -66.1% *Net profit: Profit attributable to shareholders of parent. Affected by the fact that AbemaTV, Inc. is exempted from consolidated tax payment, and non-controlling equity interest (minority interest) of Cygames, Inc. 9 1. Quarterly Results [BS] We maintain a strong financial position. End of End of End of million yen YoY QoQ June 2020 June 2019 Mar. 2020 Current assets 181,182 161,862 11.9% 183,524 -1.3% Cash deposits 90,425 79,908 13.2% 84,960 6.4% Fixed assets 54,629 53,772 1.6% 57,542 -5.1% Total assets 235,860 215,679 9.4% 241,118 -2.2% Current liabilities 71,661 63,570 12.7% 82,795 -13.4% (Income tax payable) 5,946 2,997 98.3% 8,660 -31.3% Fixed liabilities 43,836 43,329 1.2% 43,841 -0.01% Shareholders' equity 77,786 74,053 5.0% 76,671 1.5% Net Assets 120,362 108,780 10.6% 114,482 5.1% 10 2. Forecast FY2020 Forecast October 2019 - September 2020 11 2. Forecast 465.0 453.6 Sales 465 billion yen(UP 2.5% YoY) 419.5 OP 28~32 billion yen 371.3 310.6 36.7 32.7 32.0 254.3 30.7 30.1 30.8 205.2 28.0 22.2 162.4 141.1 (billion yen) 17.4 119.5 Sales 14.3 Continue up-front 93.8 96.6 OP 87.0 10.3 investment in 76.0 9.3 60.1 Investment in ABEMA 43.2 5.5 Smartphone 4.3 4.6 4.4 26.7 2.6 business 10.8 16.2 1.7 3.2 6.3 Investment in blog service -0.1 -0.2 -0.1 -1.6 FY2000 FY2001 FY2002 FY2003 FY2004 FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020E 12 2. Forecast [Progress to Full-year Forecast] The accumulated total of the operating profit and the ordinary profit have achieved minimum forecast. 465B 売上高Sales 357.7B 77% Operating営業利益 Profit 28.5B 89%~102% 28B ~ 32B Ordinary経常利益 Profit 28.4B 89%~102% 28B ~ 32B 当期純利益Net Profit* 5.8B 59%~73% 8B ~ 10B 0% 25% 50% 75% 100% *Net profit: Profit attributable to shareholders of parent. Affected by the fact that AbemaTV, Inc. is exempted from consolidated tax payment, and non-controlling equity interest (minority interest) of Cygames, Inc. 13 3. Internet Advertisement Business Internet Advertisement 14 3. Internet Advertisement Business [Quarterly Sales] Q3 64.3 billion yen (up 0.01% YoY) As COVID-19 has impacted on sales, we focused on advertisers with strong stay-at-home consumer demand. 72.7 66.6 67.3 64.3 63.3 64.3 61.4 61.3 62.2 60.2 57.6 55.6 52.5 (Billion yen) 51.0 47.8 48.6 43.6 43.0 40.5 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY2016 FY2017 FY2018 FY2019 FY2020 *FY2020 Segment reclassification: Some EC businesses that were included in Internet Advertisement Business has transferred to Media business and reflected from FY2016.