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MarketScreener Homepage  >  Equities  >  Tokyo  >  FinTech Global Incorporated    8789   JP3802830004

FINTECH GLOBAL INCORPORATED

(8789)
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FinTech Global Incorporated : Results for First Three Quarters of Fiscal 2019, ending September 30, 2019

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08/14/2019 | 05:27am EDT

The firm of innovative financing

Results for First Three Quarters of Fiscal 2019, ending September 30, 2019

August 2019

FinTech Global Incorporated

Mothers Stock Code: 8789

http://www.fgi.co.jp/english/

  • FinTech, in katakana script and English letters (registration 5113746), FinTech Global, in English letters (registration 5811521) and in katakana script (registration 5811522), and FGI (registration 5113748) are registered trademarks of FinTech Global Incorporated.

Fiscal 2019 First Three Quarters: Consolidated Business Summary

Revenues significantly higher, reflecting opening of Moominvalley Park.

Although FGI showed cumulative loss over first three quarters of fiscal 2019, owing to impact of expenses in preparation for opening of Moominvalley Park and a ¥ 365 million impairment loss on corporate investment, the Company showed improvement in the third quarter (April - June 2019), posting final profit of ¥ 34 million.

  • Metsä site fully open (Metsä Village in November 2018 and Moominvalley Park in March 2019). Actively rolled out various strategies, including events to attract visitors. Capitalized on high travel and leisure activity demand during spring vacation and Golden Week (skipping-stone holidays at end of April and early May) and recorded one-millionth visitor on July 26, based on cumulative guest count from November 2018.
  • Increase in asset investment exits.
  • Shares in Adacotech Incorporated, a subsidiary in FGI's investment portfolio, were picked up by a venture capital fund under a third-party allocation of shares. As an FGI affiliate accounted for by the equity method, Adacotech's change in status led to booking of ¥120 million in extraordinary profit (gain on change in equity) on a consolidated basis.

Fiscal year-end performance forecast being closely examined

  • In investment banking business, progress on performance front delayed mainly by impairment loss on corporate investment.
  • In entertainment service business, burden of expenses during preparation for opening of Metsä site was heavy but segment loss is quickly improving since full-scale opening of site. Fueling business results on a consolidated basis.

(Measures to meet fiscal year-end targets)

  • In investment banking business, emphasis will be on arrangement transaction services, including M&A-related services, sales of subdivided real estate investment products and investment exits.
  • In entertainment service business, focus on measures to attract all types of guests to Metsâ.

Management will carefully track progress of these segments, and if changes to performance forecast are thought to be necessary, management will immediately issue an update.

Copyright© FinTech Global Incorporated

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Fiscal 2019 First Three Quarters: Consolidated Performance

Fiscal 2018

Fiscal 2019

YOY

YOY

Fiscal 2019

Progress

(Millions of yen)

First Three

Change

Change

Full Year

Q

Q

Q

First Three

toward goal

Quarters

Amount

Ratio

(Forecast)

Quarters

Revenues

2,286

1,020

2,257

3,411

6,689

4,402

192.5%

11,040

60.6%

Gross profit

1,319

455

495

1,324

2,275

955

72.4%

6,880

33.1%

Operating

(1,095)

(747)

(720)

160

(1,307)

(211)

510

income(loss)

Ordinary

(1,197)

(804)

(762)

121

(1,445)

(247)

310

income(loss)

Profit/(loss)

attributable to

(874)

(599)

(645)

34

(1,210)

(335)

owners of the parent

Note1

EBITDA

(1,024)

(679)

(568)

416

(831)

192

Note1: Forecast not provided.

Note2: EBITDA is calculated by adding depreciation and amortization of goodwill to operating profit

Copyright© FinTech Global Incorporated

2

Business Summary by Segment - 1

Unit: Millions of yen

Revenue, gross profit and operating income include intersegment transactions.

Fiscal 2018

Fiscal 2019

Reporting Segments

First Two

YOY Change

Key Consolidated Subsidiaries

1Q

2Q

3Q

First Three

Quarters

Quarters

Revenue

1,921

405

975

1,230

2,611

690

FinTech Global

Investment Banking

Gross Priofit

1,186

249

130

466

846

(340)

FinTech Asset Management

Business

FinTech Global Trading, FGI Capital Partners

Operating income

401

(128)

(276)

26

(378)

(779)

FinTech M&A Solition,SGI-Group

Revenue

294

182

263

148

593

298

Public Management

Gross Priofit

128

88

149

78

316

187

Public Management Consulting Corporation

Consulting Business

Geoplan Namtech

Operating income

(59)

10

65

(3)

72

132

Revenue

103

484

1,078

2,122

3,685

3,582

Moomin Monogatari

Entertainment Service

Gross Profit

36

131

228

808

1,168

1,132

Hanno Local Resource Utilization LLC

Business

Rights and Brands Japan

Operating income

(639)

(392)

(299)

346

(345)

294

Toranomon Ham

Revenue

13

7

13

3

24

10

Others

Gross Profit

13

7

13

3

24

10

Adacotech Incorporated

Operating income

(14)

(4)

0

(8)

(12)

1

Adjustment

Revenue

(46)

(60)

(73)

(93)

(226)

(180)

Elimination of transactions

Gross Profit

(45)

(21)

(26)

(32)

(80)

(35)

among segements and

corporate expenses

Operating income

(783)

(232)

(210)

(201)

(644)

138

Amount Booked on

Revenue

2,286

1,020

2,257

3,411

6,689

4,402

Consolidated

Gross Profit

1,319

455

495

1,324

2,275

955

Statement of Income

Operating income

(1,095)

(747)

(720)

160

(1,307)

(211)

  1. SGI-GroupB.V. and the subsidiaries fell under consolidation in the second quarter of fiscal 2018, and FinTech M&A Solution, Inc., and Geoplan Namtech Inc. fell under consolidation in the third quarter of fiscal 2018. Plan to remove Geoplan Namtech from scope of consolidation in fourth quarter of fiscal 2019.
  2. Rights and Brands Japan fell under consolidation in the first quarter of fiscal 2019.
  3. Adacotech removed from scope of consolidation at end of third quarter of fiscal 2019.
  4. The ¥644 million operating loss for the first three quarters of fiscal 2019, under adjustment, includes intersegment elimination (¥182 million in the first three quarters of fiscal 2019) as well as corporate expenses (¥827 million in the same period) that are not allocated to any reporting segment. Corporate expenses are general and administrative expenses not associated with any reporting segment, mainly because it is difficult to justifiably allocate such expenses to any particular reporting segment.

Copyright© FinTech Global Incorporated

3

Business Summary by Segment - 2

Revenues

Gross Profit

(Millions of yen)

(Millions of yen)

7,000

24

2,500

Operating Income (loss)

(Millions of yen)

500

6,000

5,000

3,685

4,000

3,000

593

13

2,000 294

103

1,000

2,611

1,921

0

-46

-226

2018/9

2019/9

3Q

3Q

2,286

6,689

Up 192.5

24

2,000

1,168

1,500

  1. 128

1,000316

500

1,186

846

-45

-80

0

2018/9

2019/9

3Q

3Q

1,319

2,275

Up 72.4

72

401

0

- 59 - 378

- 639

- 500- 345

- 14 -12

- 1,000- 644

- 783

  • 1,500
  • 2,000

2018/9

2019/9

3Q

3Q

-1,095

-1,307

Note: Segment breakdown uses non-eliminated values.

Investment

Public Management

Entertainment Service Business

Other

Corporate expenses and

Banking Business

Consulting Business

eliminated transactions

Copyright© FinTech Global Incorporated

4

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

FGI - FinTech Global Inc. published this content on 14 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 August 2019 09:26:10 UTC

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