INVESTOR PRESENTATION
Financial Results for the Third Quarter of the Fiscal Year 2019
(April 1 - December 31, 2019)
Gurunavi, Inc.(Stock Code : 2440)
Financial Highlights
- Financial highlights for the first nine months of FY2019
Net sales | JPY | 23,431 million | (4.4) % YoY | |
Operating income | JPY | 1,397 million | 24.3 | % YoY |
Operating income on net sales | 6.0 % | 1.4 | pp YoY | |
Net income attributable to owners of parent | JPY | 790 million | 4.8 | % YoY |
Basic earnings per share (EPS) | JPY | 16.89 | 4.7 | % YoY |
Number of all paying member restaurants | 59,067 | (2.7) % YoY | ||
(Including member restaurants with other fee type contract) | (At the end of December 2019) | |||
Number of basic member restaurants with annual fixed fee | 56,067 | (4.3) % YoY | ||
(At the end of December 2019) | ||||
Number of Gurunavi members | 18.50 million | 10.3 | % YoY | |
(As of January 1, 2020) | ||||
2
Full-year Consolidated Forecasts
-
Full-yearforecasts revised upwards
Full-scale structural reforms and upfront investment based on the medium-term business policy be postponed to the next fiscal year
FY2018 | FY2019 | ||||
( JPY million) | Q3 | Full-year | |||
Results | Results | Previous forecast | Revised forecast | Change | |
Net Sales | 32,728 | 23,431 | 30,800 | 31,000 | +200 |
Operating income | 1,216 | 1,397 | (2,000) | 1,400 | +3,400 |
4.5% | |||||
Operating income on net sales | 3.7% | 6.0% | - | - | |
Ordinary income | 1,289 | 1,423 | (2,000) | 1,440 | +3,440 |
Net income attributable to owners of parent | 581 | 790 | (2,050) | 790 | +2,840 |
Basic earnings per share (JPY) | 12.42 | 16.89 | (43.77) | 16.86 | +60.63 |
Annual dividends (JPY) | 8.00 | - | 8.00 | 8.00 | - |
Payout ratio | 64.4% | - | - | 47.4% | - |
3
Financial Highlights and Full-year Consolidated Forecasts (1)
- Progress on initiatives for the recovery and regrowth of business performance continue under new management structure
1 | Expense reductions to strengthen profit structure progressing faster than expected |
2 | To maximize results radical structural reforms and upfront investment be implemented |
next fiscal year rather than quick short-term measures in the current year |
Background
1
Background
2
Factors hindering flexible and rapid service development and improvement are scattered within the company
Aging system Lack of date accumulation and maintenance Resource allocation Human resource development, etc.
Present | Renewing internal systems and strengthening human resource strategies under medium- |
situation | term business policy |
Conclusion that implementing reforms with sufficient preparation is more effective
Analysis and verification of current situation takes | Short-term measures are less effective than expected | |
longer than expected | ||
Present | Under preparation and coordination of operational aspects for prompt implementation of | |
situation | reforms next fiscal year |
4
Financial Highlights and Full-year Consolidated Forecasts (2)
Image of profit trends | ||
Thorough | Focus on regaining trustworthiness | Full recovery and growth |
from our customers | ||
expense reduction | of business performance | |
and strengthening business structure | ||
Recovery
Image of profit trends from quick short-term measures
Structural reforms
&
upfront investment
FY2018 | FY2019 | FY2020 |
5
Financial Highlights and Full-year Consolidated Forecasts (3)
- Policy to prioritize structural reforms and investment over profit in the next fiscal year
Image of cost and investment
3 Considerflexibly further investment
Deferment of upfront investment to the next fiscal
2 year based on medium-term policy
1 | Reduction in recurring costs |
due to cost-cutting |
Full recovery in business performance expected from the fiscal year after next
FY2018 | Previous forecast | Revised forecast | FY2020 | |
results | policy | |||
FY2019 | ||||
6
Consolidated income statement
(JPY million) | Q3 FY2018 | Ratio to | Q3 FY2019 | Ratio to | YoY |
(Apr.-Dec.) | sales | (Apr.-Dec.) | sales | Change | |
Net sales | 24,513 | 100.0% | 23,431 | 100.0% | (4.4)% |
Cost of sales | 7,625 | 31.1% | 7,739 | 33.0% | 1.5% |
Gross profit | 16,887 | 68.9% | 15,692 | 67.0% | (7.1)% |
SG&A expenses | 15,763 | 64.3% | 14,294 | 61.0% | (9.3)% |
Operating income | 1,124 | 4.6% | 1,397 | 6.0% | 24.3% |
Ordinary income | 1,148 | 4.7% | 1,423 | 6.1% | 24.0% |
Net income before income taxes | 1,125 | 4.6% | 1,130 | 4.8% | 0.4% |
Net income attributable to owners of parent | 754 | 3.1% | 790 | 3.4% | 4.8% |
- Recorded an extraordinary loss of JPY 293 million in loss on valuation of investment securities
7
Consolidated sales breakdown
(JPY million) | Q3 FY2018 | Q3 FY2019 | YoY | Cumulative retained services | ||||||||||||||||
(Apr.-Dec.) | (Apr.-Dec.) | |||||||||||||||||||
• Contract reductions/cancellations remain low this quarter as measures | ||||||||||||||||||||
Net sales | 24,513 | 23,431 | (4.4)% | to expand the use of online reservations (enhancing customer referral | ||||||||||||||||
capability) continued and proposals for business support services | ||||||||||||||||||||
Restaurant promotion services | 22,190 | 21,586 | (2.7)% | • New orders remain at low level due to strengthening of proposals to | ||||||||||||||||
member restaurants | ||||||||||||||||||||
Cumulative retained services | 19,581 | 18,086 | (7.6)% | Spot services | ||||||||||||||||
Spot services | 2,609 | 3,500 | 34.2% | • Online reservation commission fees grew | ||||||||||||||||
Promotions | 641 | 498 | (22.4)% | Related businesses | ||||||||||||||||
Related businesses | 1,681 | 1,346 | (19.9)% | • Transfer of "Let's Enjoy Tokyo" business in September and business | ||||||||||||||||
regarding food delivery service for corporations scheduled in January | ||||||||||||||||||||
(JPY million) | ||||||||||||||||||||
10,000 | 631 | Related businesses | ||||||||||||||||||
9,000 | 635 | |||||||||||||||||||
515 | 516 | 266 | ||||||||||||||||||
403 | ||||||||||||||||||||
8,000 | 152 | 195 | 1,198 | 534 | 634 | 600 | 461 | |||||||||||||
604 | 710 | 861 | 322 | 200 | ||||||||||||||||
144 | 513 | 314 | 451 | 433 | Promotions | |||||||||||||||
7,000 | 751 | 174 | 1,166 | 999 | 118 | 179 | 1,511 | |||||||||||||
691 | 967 | 1,021 | ||||||||||||||||||
6,000 | ||||||||||||||||||||
5,000 | Spot services | |||||||||||||||||||
4,000 | 7,518 | 7,346 | 7,443 | 7,225 | ||||||||||||||||
3,000 | 6,778 | 6,417 | 6,385 | 6,300 | 6,014 | 6,093 | Cumulative retained | |||||||||||||
5,978 | ||||||||||||||||||||
2,000 | services | |||||||||||||||||||
1,000 | ||||||||||||||||||||
0 | ||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | ||||||||||
FY2017 | FY2018 | FY2019 |
8
Consolidated cost breakdown
(JPY million) | Q3 FY2018 | Q3 FY2019 | YoY | Cost of Sales | |
(Apr.-Dec.) | (Apr.-Dec.) | ||||
• Expenses increase with increased use of business support services | |||||
Total cost | 23,389 | 22,033 | (5.8)% | ||
(advertisement placement agency service, etc.) | |||||
Cost of sales | 7,625 | 7,739 | 1.5% | SG&A | |
SG&A | 15,763 | 14,294 | (9.3)% | • Personnel expenses/Business consignment expenses | |
Personnel expenses | 7,537 | 6,875 | (8.8)% | As a result of focusing resources on restaurant support business and | |
improving business efficiency, recruitment activities were reviewed and | |||||
Rent expenses | 1,525 | 1,476 | (3.2)% | in-house production progressed, resulting in a reduction in | |
1,629 | 987 | personnel-related costs | |||
Business consignment expenses | (39.4)% | • Advertising and promotion expenses | |||
Advertising and promotion expenses | 1,613 | 2,401 | 48.9% | Expenses for promoting online reservation use increased | |
Other | 3,457 | 2,552 | (26.2)% | Expenses related to points program increased due to the increase in the | |
number of online reservations | |||||
(JPY million)
10,000 | Cost of sales | |||||||||||||
9,000 | ||||||||||||||
8,000 | Advertising and | |||||||||||||
7,000 | 2,682 | 2,805 | ||||||||||||
2,786 | 2,385 | 3,019 | promotion expenses | |||||||||||
6,000 | 2,252 | 2,420 | 2,434 | 2,684 | 2,590 | Other expenses | ||||||||
654 | 835 | 2,464 | ||||||||||||
5,000 | 474 | 460 | 1,108 | 367 | 410 | 787 | ||||||||
620 | 1,085 | Business consignment | ||||||||||||
1,103 | 1,304 | 1,267 | 1,208 | 695 | ||||||||||
4,000 | 974 | 1,166 | 981 | 946 | ||||||||||
843 | expenses | |||||||||||||
565 | 528 | 544 | 602 | 550 | 542 | 536 | 801 | 907 | ||||||
3,000 | 473 | 414 | ||||||||||||
412 | 402 | 548 | 512 | 494 | 519 | 274 | 298 | Rent expenses | ||||||
2,000 | 403 | 516 | 493 | 481 | 501 | |||||||||
1,000 | 2,582 | 2,557 | 2,474 | 2,472 | 2,528 | 2,500 | 2,509 | 2,378 | 2,415 | 2,292 | 2,167 | Personnel expenses | ||
0 | ||||||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | ||||
FY2017 | FY2018 | FY2019 |
9
Consolidated balance sheets
(JPY million) | As of Mar. 31, | As of Dec. 31, | Change | (JPY million) | As of Mar. 31, | As of Dec. 31, | Change |
2019 | 2019 | 2019 | 2019 | ||||
Total current assets | 14,603 | 17,819 | 3,215 | Total current liabilities | 4,779 | 5,152 | 373 |
Cash and deposits | 7,630 | 9,969 | 2,339 | Accounts payable- | 2,416 | 2,747 | 330 |
other | |||||||
Notes and accounts | 4,536 | 4,546 | 10 | Income taxes payable | 168 | 125 | (43) |
receivable-trade | |||||||
Accounts receivable- | 1,636 | 2,012 | 376 | Provision for bonuses | 709 | 300 | (409) |
other | |||||||
Allowance for doubtful | (298) | (201) | 97 | Provision for point | 328 | 214 | (114) |
accounts | card certificates | ||||||
Other | 1,099 | 1,491 | 391 | Other | 1,155 | 1,765 | 609 |
Total non-current | 9,194 | 6,737 | (2,456) | Total non-current | 314 | 258 | (55) |
assets | liabilities | ||||||
Property, plant and | 1,163 | 915 | (247) | Total liabilities | 5,093 | 5,411 | 317 |
equipment | |||||||
Intangible assets | 3,950 | 2,311 | (1,638) | Total net assets | 18,704 | 19,145 | 441 |
Investments and | |||||||
4,080 | 3,510 | (569) | Equity | 18,662 | 19,091 | 428 | |
other assets | |||||||
Total assets | 23,797 | 24,557 | 759 | Total liabilities and | 23,797 | 24,557 | 759 |
net assets | |||||||
10
Progress of measures to expand use of online reservations (1)
Online reservations per month
FY2017 | FY2018 | FY2019 | |||||
(April 2017 = 100) | |||||||
October 2018 | |||||||
Started Rakuten ID tie-up | |||||||
350
300
250
200
150
100
50
0
Apr. | May | Jun. | Jul. | Aug. | Sep. | Oct. | Nov. | Dec. | Jan. | Feb. | Mar. |
Q1 | Q2 | Q3 | Q4 |
11
Progress of measures to expand use of online reservations (2)
Restaurants that award reservation points | Number of ID tie-up (Accumulation) | ||||
(million people) | |||||
(restaurants) | |||||
ID tie-up by new Gurunavi members | |||||
ID tie-up by existing Gurunavi members | |||||
Approximately
30,000 restaurants
30,000
Approximately | |
3.0 | 2.1 million people |
20,000
2.0
10,000
1.0 | |||||||||||||||
0 | 0.0 | ||||||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | ||
FY2018 | FY2019 | FY2018 | FY2019 |
12
Progress of measures to expand use of online reservations (3)
- Measures have just begun. Considerable room for expansion in online reservations
Progress in Q3
The number of restaurants that award reservation points / offer immediate reservations steadily increased
Enhance
Improve vacant seat
- Enhanced promotion and support by human support structure
- Launched app version of Gurunavi ledger to expand support for reducing workload of reservation and seat management
reservation
information
Future plans
Aiming to improve conversion rate with the improvement of quantity and quality of vacant seat information
conversion
rate
Improve
user interface
- Further expansion of restaurants that award reservation points / offer immediate reservations
- Expand vacant seat information in areas, hours and category where user needs are high
Progress in Q3 Improved the route to online reservation mainly at restaurant pages
- Contribution to conversion rate improvement was below expectation
Future plans | Thorough analysis of user behavior and continuous improvement |
Expand | Expand |
tie-ups | |
inflow | |
Increased awareness due to advertising and campaign in the
Progress in Q3 | year-end party season |
- Members who tie-ups user identifier exceed target
with Rakuten |
Future plans
Focus on advertising spending and collaboration with Rakuten while monitoring conversion rate
13
Topics: Leveraging online reservations for restaurants (1)
Strategies to Sustain and promote Japan's vibrant food culture
- Environment and issues surrounding leveraging online reservations for restaurants
<Restaurant management environment>
Intensifying labor | Diversifying sales |
shortages | promotion methods |
● ● ●
Benefits of using online reservations
Accept reservations | Increases opportunities to |
regardless of time of day | |
attract customers using | |
=Reduces burden of | |
various media | |
handling phone calls | |
Issues of using online reservations
Constantly | Risk of | |
fluctuating vacancy | Burden of media | |
cancellations | ||
=Complicated | updates | |
without notice | ||
seat management | ||
One day of a restaurant(example)
Average values at member restaurants from January 2019 to December 2019
Time allotted for media updates
Outside business hours | Lunch | Dinner | |||||
Time zone for telephone inquiries
0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
(a.m.)(p.m.)
Time zone for online reservations
0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 11 12 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 11 |
(a.m.) | (p.m.) |
Providing support services that leverage our unique business assets
to solve the issues restaurants face
14
Topics: Leveraging online reservations for restaurants (2)
- Support services that leverage our unique business assets
Strategies to Sustain and promote Japan's vibrant food culture
media media
AB
Gurunavi | Official website | Google My Business | Other media | Phone |
Media update agency service
- Gurunavi staff centrally manages not only updates to the Gurunavi website but also to other media
- Optimize overall dissemination of restaurant information to maximize customer attraction and reservations
Reservation management agency service
- Gurunavi staff centrally manages telephone reservations, and online reservations via Gurunavi as well as other online media
- Prevent cancellations without notice by confirming reservations over the phone
Sales
increase
Provide comprehensive service by leveraging our unique expertise and data in the field of restaurant promotion
Continue to expand services that contribute to solving issues restaurants face
Realize our future vision of "Growing together with restaurants"
15
Gurunavi will continue evolving to create
a gourmet lifestyle for the 21st century.
Reference materials
17
Progress of measures to expand use of online reservations (Reference)
Gurunavi ledger (reservation and customer management system) contacts
Approximately 5,800
November 2019 Launched app version
Oct. Nov. Dec. Jan. Feb. Mar. | Apr. May Jun. | Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. | Apr. May Jun. | Jul. Aug. Sep. Oct. Nov. Dec. |
FY2017 | FY2018 | FY2019 |
18
Business Environment
- Number of restaurants
490 thousand outlets in 2016 (peaked at 650 thousand outlets in 1986)
*Sources: 1986 Business Census; 2014 Economic Census for Business Activity *Institutional meals, bars, and night clubs are excluded.
- Market size of the Japanese restaurant industry
(Trillion yen)
16
14
12
10
8
6
4
2
0
'89 '91 '93 '95 '97 '99 '01 '03 '05 '07 '09 '11 '13 '15 '17
*Source: Food Industry Research Institute; Size of restaurant market *Institutional meals, bars, and night clubs are excluded.
Increased for seven consecutive years due to an increase in foreign visitors to Japan and a rise in corporate entertainment spending
- Market size of online reservation in restaurant
(Trillion yen)
0.7
0.6
0.5
0.4
0.3
0.2
0.1
0
2014 | 2015 | 2016 | 2017 | 2018 |
*The Ministry of Economy, Trade and Industry (METI); FY2018 Survey of Infrastructure Development Status for Data-driven Society in Japan (E-Commerce Market Survey)
41.6% increase year on year in 2018
19
Gurunavi's unique business model
- Offer support through the establishment and integration of two solid business bases
- Restaurant support through IT-basedbusiness-support platform (online infrastructure)
- Restaurant support through human support structure (offline infrastructure)
Restaurant | Related business:7.0% | |||
Promotions:2.9% | ||||
Own | ||||
restaurant | ||||
information | Membership | 2 | ||
1 | fees | Spot | ||
Promotion fees | services | |||
Farmers & growers, | Sales | |||
JPY32.7bn | ||||
Restaurant | Municipalities, | |||
visit | Food manufactures | (FY2018) | ||
Provide | Promotion support | |||
information | ||||
Search for | Cumulative retained | |||
information | services | |||
Internet users | Restaurant promotion services:90.1% |
20
Human support structure (offline infrastructure)
A partner who works with restaurant managers with the aim of
expanding operations over the long-term
Providing advice on advertising and promotion and other issues facing member restaurants
Member restaurant sales staff
Paying regular visits to member restaurants to answer questions and provide detailed support
Visiting staff
Providing advice to member restaurants in difficulty | Holding more than 3,000 lectures annually for restaurant |
Call center staff have specific skills related to the restaurant industry | managers and executives, focusing on case studies of success |
Call center | Gurunavi Academy |
Implement PDCA cycle to identify and solve restaurant issues
Utilizing all of our strengths to provide versatile restaurant support
21
Number of member restaurants
FY2019 Q3
Number of all paying member restaurants | 59,067 | at the end of December 2019 |
*Including member restaurants with other fee type contract | down by 1,645 from the end of December 2018 | |
Number of basic member restaurants with | 56,067 | at the end of December 2019 |
annual fixed fee | down by 2,541 from the end of December 2018 | |
(Restaurants)
65,000
60,000
55,000
50,000
45,000
40,000
35,000
30,000
25,000
20,000
15,000
10,000
5,000
0
Basic member restaurants with annual fixed fee
Member restaurants with other fee type contract
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 | ||||||||||||
FY2007 | FY2008 | FY2009 | FY2010 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 | FY2017 | FY2018 | FY2019 |
22
User reach
■ Unique user per month | : 56.00 million | In December 2019; 61.00 million users in December 2018 |
- Decreased year-on-year, affected by closing and transfer of related sites due to reorganization of businesses
■ Number of Gurunavi members : 18.50 million | As of January 1, 2020; 16.77 million members as of January 1, 2019 |
Gurunavi members
(Million people)
19
18
17
16
15
14
13
12
11
10
9
8
7
6
5
4
3
2
1
0
5.34 | 5.43 | 5.68 | 5.88 | 5.95 | 6.01 | 6.21 | 6.41 | 6.56 | 6.70 | 6.85 | 6.96 | 7.05 | 7.19 | 7.54 | 8.02 | 8.45 | 8.59 | 8.96 | 9.26 | 9.41 | 9.66 | 10.04 | 10.33 | 10.61 | 10.92 | 11.33 | 11.80 | 12.09 | 12.38 | 12.67 | 12.97 | 13.23 | 13.46 | 13.73 | 13.97 | 14.20 | 14.42 | 14.65 | 14.89 | 15.12 | 15.36 | 15.79 | 15.86 | 16.05 | 16.25 | 16.77 | 17.18 | 17.57 | 17.96 | 18.50 |
Q1 Q2 Q3 Q4 | Q1 Q2 Q3 Q4 | Q1 Q2 Q3 Q4 | Q1 Q2 Q3 Q4 | Q1 Q2 Q3 Q4 | Q1 Q2 Q3 Q4 | Q1 Q2 Q3 Q4 | Q1 Q2 Q3 Q4 | Q1 Q2 Q3 Q4 | Q1 Q2 Q3 Q4 | Q1 Q2 Q3 Q4 | Q1 Q2 Q3 Q4 | Q1 Q2 Q3 | ||||||||||||||||||||||||||||||||||||||
FY2007 | FY2008 | FY2009 | FY2010 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 | FY2017 | FY2018 | FY2019 |
*Unique users per month: Based on browser count | *Gurunavi member: An individual who has registered for membership at Gurunavi |
23
User overview
Users by age group | User composition by gender | |
Unknown | Under 20 | |
4.9% | 0.5% |
60 and above
9.1%
20's
13.1%
50's | 30's | Women | Men |
17.2% | |||
53.4% | |||
27.9% | 46.6% |
40's
27.4%
Source: Gurunavi member data (In December 2019)
There is little gap between men and women among Gurunavi users, and the site is used by persons from a broad range of age groups.
In addition, the results from a survey conducted by the company show that our users tend to select restaurants based on the menu and atmosphere, showing a high grade of customers who are not searching for discounts.
24
Regional expansion and member restaurants
21 sales offices that provide services to local businesses across the country
Head Office | Kanazawa Sales Office |
Hokkaido Sales Office | Osaka Sales Office |
Sendai Sales Office | Kyoto Sales Office |
Ibaraki Sales Office | Kobe Sales Office |
Tochigi Sales Office | Okayama Sales Office |
Saitama Sales Office | Hiroshima Sales Office |
Chiba Sales Office | Ehime Sales Office |
Yokohama Sales Office | Fukuoka Sales Office |
Shizuoka Sales Office | Kagoshima Sales Office |
Nagoya Sales Office | Okinawa Sales Office |
Niigata Sales Office |
Percentage of member restaurants(paid) by region
Shiokoku 1.2%
Chugoku 3.1% Okinawa 1.5%
Hokuriku 2.9%
Touhoku 2.8%
Hokkaido 2.6%
Kyushu 5.5%
Chubu 8.7% | Kanto 50.8% |
Kansai 20.8% |
Percentage of member restaurants (paid) by restaurant type
Other cuisine 6.7%
Cafes / Dessert Spots 2.0%
Chinese 3.5%
Asian BBQ / Teppanyaki 9.0%
Japanese 25.4%
Bars / Gastropubs 4.3%
Other Western 2.7%
Italian / French 8.9% | Izakaya (Japanese Pub) |
37.5% |
* In December 2019
25
Sales and costs & expenses
Sales | Costs & Expenses |
(Million yen) 40,000
(Million yen)
40,000 |
35,000
Related businesses
Promotions
Spot services
2,381 | 2,298 | |
1,007 | ||
2,214 | 1,018 | |
Cost of sales | ||
35,000 | Advertising and promotion expenses | |
Other expenses | ||
30,000 | Cumulative retained services | ||||||
2,786 | |||||||
924 | |||||||
25,000 | 2,323 | 1,698 | |||||
1,298 | 921 | ||||||
1,033 | |||||||
1,772 | 1,670 | 1,529 | |||||
1,820 | |||||||
1,076 | 1,062 | ||||||
1,008 | 1,138 | ||||||
20,000 | |||||||
15,000 | |||||||
25,109 | |||||||
21,091 | 22,490 | ||||||
10,000 | 20,313 | 20,431 | |||||
5,000 |
989 | 2,638 | 2,282 | ||
2,761 | 3,374 | |||
750 | 2,529 | 956 | ||
1,847 | 3,609 |
28,883 30,951 29,534
27,277
25,881
Business consignment expenses | ||||||||||||
30,000 | Rent expenses | |||||||||||
Personnel expenses | 8,832 | 10,142 | 10,645 | |||||||||
25,000 | ||||||||||||
8,683 | 8,626 | |||||||||||
7,817 | ||||||||||||
6,114 | ||||||||||||
20,000 | 5,191 | 2,773 | 2,697 | 2,400 | ||||||||
5,096 | 2,363 | |||||||||||
2,458 | ||||||||||||
5,398 | 2,718 | 3,037 | ||||||||||
4,575 | 4,549 | 4,403 | ||||||||||
2,272 | ||||||||||||
15,000 | 2,150 | 3,989 | ||||||||||
4,185 | ||||||||||||
1,393 | 4,191 | |||||||||||
4,485 | 2,658 | 2,240 | 2,103 | |||||||||
4,242 | 4,003 | 2,331 | ||||||||||
2,169 | ||||||||||||
4,004 | 1,766 | 2,042 | ||||||||||
1,904 | 1,366 | 1,565 | ||||||||||
10,000 | 1,879 | |||||||||||
1,471 | 1,415 | 1,173 | ||||||||||
1,106 | ||||||||||||
1,326 | 1,252 | 1,116 | ||||||||||
1,133 | ||||||||||||
1,227 | ||||||||||||
5,000 | 7,833 | 8,313 | 8,867 | 9,510 | 9,833 | 10,086 | 9,916 | |||||
7,438 | 7,190 | |||||||||||
6,279 | ||||||||||||
0
FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018
0
FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018
26
Quarterly sales data (consolidated)
Net sales (Unit: JPY million) | FY2016 | FY2017 | FY2018 | FY2019 | |||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | |||||||
Cumulative retained services | a | 7,601 | 7,674 | 7,880 | 7,795 | 7,518 | 7,346 | 7,443 | 7,225 | 6,778 | 6,417 | 6,385 | 6,300 | 6,014 | 5,978 | 6,093 | |||||
Spot services | b | 487 | 596 | 813 | 741 | 604 | 710 | 1,198 | 861 | 751 | 691 | 1,166 | 999 | 967 | 1,021 | 1,511 | |||||
Restaurant promotion services | c= | 8,088 | 8,271 | 8,693 | 8,536 | 8,123 | 8,056 | 8,641 | 8,087 | 7,530 | 7,108 | 7,552 | 7,299 | 6,982 | 6,999 | 7,605 | |||||
a+b | |||||||||||||||||||||
Promotions | d | 155 | 189 | 262 | 399 | 152 | 195 | 266 | 403 | 144 | 174 | 322 | 314 | 118 | 179 | 200 | |||||
Core businesses total | e= | 8,243 | 8,460 | 8,956 | 8,936 | 8,276 | 8,252 | 8,908 | 8,490 | 7,674 | 7,282 | 7,874 | 7,614 | 7,100 | 7,178 | 7,805 | |||||
c+d | |||||||||||||||||||||
Related businesses | f | 520 | 508 | 676 | 676 | 515 | 516 | 631 | 635 | 534 | 513 | 634 | 600 | 451 | 433 | 461 | |||||
Total | g= | 8,763 | 8,968 | 9,633 | 9,613 | 8,791 | 8,769 | 9,539 | 9,126 | 8,209 | 7,795 | 8,509 | 8,214 | 7,551 | 7,611 | 8,267 | |||||
e+f | |||||||||||||||||||||
(Unit: JPY) | FY2016 | FY2017 | FY2018 | FY2019 | |||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | |||||||
Cumulative retained services | h *1 | 43,990 | 43,420 | 43,625 | 42,700 | 41,202 | 40,352 | 40,791 | 39,755 | 37,791 | 36,191 | 36,279 | 36,185 | 35,181 | 35,357 | 36,182 | |||||
revenue per restaurant(ARPU) | |||||||||||||||||||||
Restaurant promotion services revenue | i *2 | - | - | - | - | 44,292 | 43,772 | 46,718 | 43,667 | 40,933 | 38,911 | 41,493 | 40,430 | 39,227 | 39,557 | 42,961 | |||||
per restaurant(ARPU) 1 | |||||||||||||||||||||
Restaurant promotion services revenue | j *3 | 46,811 | 46,793 | 48,126 | 46,763 | 44,515 | 44,253 | 47,357 | 44,495 | 41,982 | 40,091 | 42,902 | 41,927 | 40,842 | 41,396 | 45,158 | |||||
per restaurant(ARPU) 2 | |||||||||||||||||||||
*1) Sales of cumulative retained services devided by the average of number of basic member restaurants with annual fixed fee at previous and current quarter-endh=2/3*a/(lt-1+lt) | |||||||||||||||||||||
*2) Sum of sales of cumulative retained services and those of spot services devided by the average of number of all paying member restaurants at previous and current quarter-endi=2/3*c/(kt-1+kt) | |||||||||||||||||||||
*3) Sum of sales of cumulative retained services and those of spot services devided by the average of number of basic member restaurants with annual fixed fee at previous and current quarter-endj=2/3*c/(lt-1+lt) | |||||||||||||||||||||
Number of member restaurants | FY2016 | FY2017 | FY2018 | FY2019 | |||||||||||||||||
(Unit: restaurants) | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | ||||||
All paying member restaurants | k= | 58,226 | 59,612 | 60,816 | 60,886 | 61,383 | 61,328 | 61,986 | 61,482 | 61,157 | 60,629 | 60,712 | 59,660 | 59,007 | 58,951 | 59,067 | |||||
l+m | |||||||||||||||||||||
Basic member restaurants | l | 58,226 | 59,612 | 60,816 | 60,886 | 60,770 | 60,606 | 61,045 | 60,123 | 59,452 | 58,747 | 58,608 | 57,465 | 56,509 | 56,210 | 56,067 | |||||
with annual fixed fee | |||||||||||||||||||||
Paying member restaurants | m | - | - | - | - | 613 | 722 | 941 | 1,359 | 1,705 | 1,882 | 2,104 | 2,195 | 2,498 | 2,741 | 3,000 | |||||
with other fee type contract | |||||||||||||||||||||
Non-paying member restaurants | n | 81,529 | 83,182 | 82,466 | 87,019 | 86,536 | 86,679 | 87,665 | 86,607 | 88,078 | 89,927 | 89,584 | 91,405 | 90,345 | 81,586 | 75,763 | |||||
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Historical data (consolidated)
(Unit: JPY million) | FY2009 | FY2010 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 | FY2017 | FY2018 | |
Consolidated business results | |||||||||||
Net sales | 30,518 | ||||||||||
24,175 | 25,238 | 24,302 | 27,265 | 32,636 | 34,617 | 36,979 | 36,226 | 32,728 | |||
Operating income | 4,545 | 3,369 | 3,312 | 3,116 | 4,147 | 5,099 | 6,429 | 6,740 | 4,742 | 1,216 | |
Ordinary income | 4,578 | 3,406 | 3,375 | 3,153 | 4,167 | 5,127 | 6,492 | 6,813 | 4,809 | 1,289 | |
Net income | 2,323 | 1,813 | 1,909 | 1,959 | 2,420 | 3,279 | 4,367 | 4,799 | 3,192 | 581 | |
Assets・Liabilities・Net assets | |||||||||||
Total assets | 22,071 | ||||||||||
15,309 | 19,653 | 16,951 | 19,103 | 23,665 | 27,322 | 23,917 | 25,457 | 23,797 | |||
Cash and deposits | 5,531 | 10,398 | 7,548 | 7,399 | 9,448 | 10,492 | 13,131 | 7,922 | 8,000 | 7,630 | |
Liabilities | 3,895 | 8,519 | 4,381 | 5,005 | 5,926 | 6,201 | 7,026 | 5,878 | 6,270 | 5,093 | |
Net assets | 11,413 | 11,133 | 12,569 | 14,098 | 16,145 | 17,464 | 20,296 | 18,038 | 19,186 | 18,704 | |
Equity | 11,413 | 11,133 | 12,555 | 14,042 | 16,099 | 17,427 | 20,266 | 18,013 | 19,166 | 18,662 | |
Per share data | |||||||||||
Earnings per share *1 | 49.56 | ||||||||||
45.20 | 35.76 | 39.12 | 40.15 | 67.26 | 90.19 | 102.25 | 68.27 | 12.42 | |||
Dividends per share(JPY) *1 | 10 | 10 | 10 | 10 | 15 | 28 | 38 | 42 | 44 | 8 | |
Other | |||||||||||
Operating margin(%) | 13.6 | ||||||||||
18.8 | 13.4 | 13.6 | 11.4 | 15.6 | 18.6 | 18.2 | 13.1 | 3.7 | |||
Return on equity(%) | 22.0 | 16.1 | 16.1 | 14.7 | 16.1 | 19.6 | 23.2 | 25.1 | 17.2 | 3.1 | |
Return on assets(%) | 16.5 | 10.4 | 10.4 | 10.9 | 11.8 | 14.3 | 17.1 | 18.7 | 12.9 | 2.4 | |
Payout ratio(%) | 22.1 | 28.0 | 25.6 | 24.9 | 30.3 | 41.6 | 42.1 | 41.1 | 64.5 | 64.4 | |
Shareholders' equity ratio(%) | 74.6 | 56.7 | 74.1 | 73.5 | 72.9 | 73.6 | 74.2 | 75.3 | 75.3 | 78.4 | |
Number of shares of treasury stock | 2,779 | 15,854 | 1,585,400 | 1,585,400 | 1,503,649 | 266,059 | 216,459 | 1,924,559 | 1,892,159 | 1,839,162 | |
Number of member restaurants (paid) | 50,227 | 48,129 | 48,893 | 50,310 | 52,235 | 53,263 | 56,967 | 60,886 | 60,123 | 57,465 | |
*1:Gurunavi implemented a 100-to-1 share split on April 1, 2011 and a 2-to-1 split on April 1, 2014. Calculated on the assumption that these share split were conductedat the beginning of FY2009 (April 1, 2009). |
28
Company profile as of the end of December 2019
Name | Gurunavi, Inc. (stock code: 2440) | |
Establishment | October 2, 1989 (incorporated) | February 29, 2000 (Gurunavi, Inc. established) |
Head office | 1-2-2, Yurakucho, Chiyoda-ku, Tokyo | |
Capital | 2,334 million yen (Number of shares issued: 48,675,100 shares) | |
Business description | Web-based information provision relating to restaurants etc. using the platform of PC and smartphones etc. | |
Provision of support service associated with the management of restaurants etc. and other related business | ||
Chairman and Director : Hisao Taki | ||
Directors | President and Representative Director : Akio Sugihara | |
Outside Directors : Koichi Tsukihara (Independent Director), Hidehiko Sato (Independent Director), | ||
Hirohisa Fujiwara (Independent Director), Kazunori Takeda, Naho Kono | ||
Rakuten, Inc. 15.0%, Hisao Taki 12.7%, Japan Traffic Culture Association 4.0%, | ||
The Master Trust Bank of Japan, Ltd. (Trust account) 2.8%, Odakyu Electric Railway Co, Ltd. 2.4%, | ||
Japan Trustee Services Bank, Ltd. (Trust account) 2.2%, Tokyo Metro Co., Ltd. 2.1%, | ||
Top 10 shareholders | Mizuho Trust & Banking Co., Ltd. retirement benefit trust (Keikyu Corporation account) re-trust trustees, Trust & | |
Custody Services Bank, Ltd. 1.9%, Hiroko Taki 1.8%, | ||
BNYM SA/NV FOR BNYM FOR BNYM GCM CLIENT ACCTS M ILM FE 1.6%, | ||
*The ratio of shareholding is calculated based on the total number of shares issued after deduction of treasury stock | ||
(1,806,562 shares). | ||
Total Number of shareholders | 12,273 | |
Number of total personnel | Non-consolidated : 1,671 Consolidated : 1,917 | |
Consolidated subsidiaries | Gurunavi Promotion Community, Inc. (100%), Gurunavi Shanghai, Inc. (100%) | |
Gurunavi Research Institute, Inc. (100%), Gurunavi Support Associe, Inc. (100%) | ||
29
Company information | Gurunavi IR contact information | |
https://corporate.gnavi.co.jp/en/ | https://ssl.gnavi.co.jp/company/english/contact/ | |
This document is not intended for offering investments in the securities issued by the Company. The document has been prepared based on data
Disclaimer available at the end of December 2019. The views and forecasts included in the document reflect judgments of the Company when the document was prepared.
The Company will not guarantee or ensure the accuracy and completeness of the information, which may be changed without prior notice.
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Gurunavi Inc. published this content on 05 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 February 2020 07:43:00 UTC