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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Hakuhodo DY Holdings Inc    2433   JP3766550002

HAKUHODO DY HOLDINGS INC

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HAKUHODO DY INCORPORATED : Presentation Material for 1H of FY2018

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11/12/2018 | 01:19am EDT

Consolidated Financial Highlights

1H of Fiscal Year Ending March 31, 2019 (1H of FY 2018)

2018.11.12

Cautionary statement concerning forward-looking statements, Note concerning audits

This presentation includes forward-looking statements concerning forecasts of operating results, business plans and policies, management strategies, goals, plans, numbers involving the future, views and evaluations of facts, and other items associated with Hakuhodo DY Holdings and its group companies. These and other statements that are not historical facts represent forecasts, expectations, assumptions, plans, views, evaluations and other positions of management based on information available when this presentation was prepared.

To prepare figures used for forecasts and predictions, confirmed facts from past activities have been combined with certain assumptions that are essential to formulating forecasts and predictions. Due to the nature of these facts and assumptions, there is no guarantee of their accuracy from an objective viewpoint or any guarantee that future events will occur as presented in these forward-looking statements.

The following is a list of some, but not all, risks and uncertainties that may prevent these facts and assumptions from being accurate from an objective viewpoint or from becoming a reality in the future.

  • (1) Risks associated with the advertising industry in general (changes in the advertising industry climate due to fluctuations in the economy, changes in business practices and other events)

  • (2) Risks associated with revisions of laws and regulations

  • (3) Risks associated with advertisers and media companies (the need to respond accurately to shifts in needs of customers and other entities the company does business with)

  • (4) Risks associated with competition (competition with other advertising agencies, companies newly entering the industry and others)

  • (5) Risks associated with the expansion of business domains resulting from structural changes in markets

  • (6) Risks associated with conducting business on a global scale

  • (7) Risks associated with lawsuits and similar actions

Billings by industry, billings by service area, and highlights of operating results at major subsidiaries were not audited by the Company's independent auditor.

November 12, 2018

Consolidated Financial Highlights 1H of FY2018

1

Consolidated Financial Highlights for 1H of FY 2018

Operating income of ¥33.5 billion due in part to the sale of operational investment securities

The figures in parentheses below represent amount and percentage increases/decreases that exclude the impact from the sale of Mercari, Inc.'s shares (hereinafter, "impact from Mercari"). Please see slide 5 for details.

Billings: ¥663.3 billion, up 8.6% year on year (up 6.5%)

Billings increased year on year due to such factors as domestic growth thanks to our strength in providing integrated marketing solutions, the sale of operational investment securities, and the incorporation of profits from companies acquired via such means as overseas M&A.

By industry of clients

Billings increased in Restaurant/Services, Finance/Insurance, and Beverages/Cigarettes/Luxury foods Billings decreased in Automobiles/Related products, Publishing, and Games/Sporting goods/Hobby supplies

By service areaBillings were down in "Mass media services subtotal" due to a decline that followed the absence of the strong performance of Television, which occurred in the same period of the previous fiscal year. Billings increased for "Other than mass media services subtotal" due to significant growth in Internet media and the strong performance of Marketing / Promotion and Creative.

Revenue: ¥155.2 billion, up 26.4%, or ¥32.3 billion, year on year (up 15.9%, or ¥19.5 billion)

Gross margin: 23.4%, up 3.3 points year

Excluding the impact from Mercari, which positively impacted gross margin by 1.5 points, gross margin stood at 21.9%. Revenue growth in our overseas businesses, which comprise a high percentage of fee businesses, helped boost gross margin by around 1.2 points.

SG&A expenses: ¥121.7 billion, up 18.1%, or ¥18.6 billion, year on year (up 17.9% or ¥18.4 billion)

Excluding the impact from Mercari, the increase in SG&A expenses exceeded growth in revenue due to such factors as strategic investments to promote the medium-term business plan and the increase in amortization of goodwill related to

M&A.

Operating income: ¥33.5 billion, up 69.4%, or ¥13.7 billion (up 5.5%, or ¥1.0 billion)

Excluding the impact from Mercari, operating income rose ¥1.0 billion, as the increase in revenue offset the rise in SG&A expenses.

  • Operating income before amortization of goodwill: ¥36.3 billion, up 68.0%, or ¥14.7 billion , year on year(up 9.5%, or ¥2.0 billion)

  • Incremental effect of M&A (approximate): Revenue: +¥14.6billion; SG&A expenses (including amortization of goodwill): +¥13.3billion; Operating income: +¥1.2 billion

  • Net income: ¥27.2 billion, up 127.9%, or 15.2 billion year on year

Net income increased significantly due to the recording of extraordinary income resulting from the gain on the abolishment of retirement benefit plans of ¥3.5 billion, which occurred following the transition of corporate pension schemes from a defined benefit plan to a defined contribution plan, and the gain on the redemption of retirement benefit trust assets of ¥16.2 billion at major consolidated subsidiaries.

November 12, 2018

Consolidated Financial Highlights 1H of FY2018

3

(Millions of yen)

1Q of

2Q of

1H of

FY2017

FY2018

YoY comparisons

FY2017

FY2018

YoY comparisons

FY2017

FY2018

YoY comparisons

Change

(%)

Change

(%)

Change

(%)

Billings

301,164

323,870

22,706

7.5%

309,780

339,504

29,724

9.6%

610,945

663,375

52,430

8.6%

Revenue

58,458

79,158

20,699

35.4%

64,418

76,104

11,685

18.1%

122,877

155,262

32,384

26.4%

(Gross margin)

(19.4%)

(24.4%)

(+5.0%)

0.0%

(20.8%)

(22.4%)

(+1.6%)

7.8%

(20.1%)

(23.4%)

(+3.3%)

16.4%

SG&A expenses

50,638

59,223

8,584

17.0%

52,451

62,525

10,074

19.2%

103,089

121,748

18,659

18.1%

Operating income

7,820

19,935

12,115

154.9%

11,967

13,578

1,610

13.5%

19,788

33,514

13,725

69.4%

(Operating margin)

(13.4%)

(25.2%)

(+11.8%)

0.0%

(18.6%)

(17.8%)

(-0.7%)

-4.0%

(16.1%)

(21.6%)

(+5.5%)

34.0%

Non-operating items

1,025

1,582

556

0.0%

214

380

166

77.7%

1,239

1,962

723

58.3%

Ordinary income

8,846

21,517

12,671

143.2%

12,182

13,959

1,777

14.6%

21,028

35,476

14,448

68.7%

Extraordinary items

(31)

3,458

3,490

0.0%

89

15,178

15,088

#####

58

18,636

18,578

#####

Income before income taxes and minority interests

8,814

24,976

16,161

183.4%

12,271

29,137

16,865

137.4%

21,086

54,113

33,027

156.6%

Net income

4,418

9,837

5,418

122.6%

7,529

17,389

9,859

131.0%

11,948

27,226

15,278

127.9%

Amortization of goodwill

849

1,165

315

37.2%

975

1,638

662

68.0%

1,824

2,803

978

53.6%

Operating Income before Amortization of goodwill

8,670

21,101

12,430

143.4%

12,943

15,216

2,273

17.6%

21,613

36,317

14,704

68.0%

Operating margin before Amortization of goodwill

14.8%

26.7%

(+11.8%)

0.0%

20.1%

20.0%

(-0.1%)

0.0%

17.6%

23.4%

(+5.8%)

0.0%

(Operating margin = Operating income / Revenue)

Dividend per share

0

0

(yen)

0

0

(yen)

13.0

14.0

(yen)

Note: (1) Amortization of goodwill refers to the amortization of goodwill and other intangible assets arising from corporate acquisitions.

  • (2) Operating income before amortization of goodwill refers to operating income that has been calculated excluding the amortization of goodwill and other intangible assets arising from corporate acquisitions.

  • (3) Net income refers to profit attributable to owners of parent.

November 12, 2018

Consolidated Financial Highlights 1H of FY2018

4

Disclaimer

Hakuhodo DY Holdings Inc. published this content on 12 November 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 12 November 2018 06:18:01 UTC

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Hirokazu Toda Chairman & Chief Executive Officer
Kojiro Ishii Manager-Group Finance & Accounting
Yoshitaka Nakatani Director & Head-Group Information System
Kunihiko Sawada Representative Director & Vice President
Junji Narita Director
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