Avex : Earnings Results for FY2023 Q1(Fiscal year ending March 31st, 2024)
August 25, 2023 at 02:42 am EDT
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Earnings Results for FY2023 Q1
(Fiscal year ending March 31st, 2024)
(April 1, 2023 to June 30, 2023)
Avex Inc.
August 10, 2023
1
Consolidated Results
Financial Highlights
Topics
Da-iCE
"Da-iCE ARENA TOUR 2023 -SCENE-"
Consolidated Results
Overview
Net sales increased 12.3% YoY to 31.9 billion yen, driven by the growth of the Music Business. Operating profit decreased 17.8% YoY to 1.8 billion yen due to a drop in gross profit.
Profit attributable to owners of parent increased 61.4% YoY to 2.7 billion yen.
(million yen)
1Q FY2022
1Q FY2023
YoY
rate
Net sales
28,473
31,973
+3,499
+12.3%
Operating profit
2,288
1,881
-406
-17.8%
Profit attributable to
1,675
2,704
+1,028
+61.4%
owners of parent
Overview of Business Results
Net sales increased, mainly from Live Concerts in the Music Business
The company-wide gross profit margin declined due to changes in the sales mix of each business segment with different profit ratios.
Operating profit decreased due to the continuation of investment in IP aimed at achieving the medium-term management plan.
Profit increased for reasons such as the sale of investment securities.
Recovered to the pre-COVID 19 levels, mainly in the Music Business.
Trends in Consolidated Net Sales
(billion yen)
29.0
31.9
28.4
19.4
14.1
Other
Digital
Anime & Visual
Music
1Q FY2019
1Q FY2020
1Q FY2021
1Q FY2022
1Q FY2023
Note: The net sales breakdown in FY2020 and earlier are reference values that have been reclassified to conform to the current segment standards, without retroactively adjusting for the impact of changes in the accounting standard, etc.
Operating profit dropped to 1.8 billion yen for reasons such as increases in personnel expenses and general expenses resulting from a recovery in sales activities.
Avex Inc. published this content on 25 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 August 2023 06:41:03 UTC.
AVEX Inc., formerly AVEX GROUP HOLDINGS INC., is a Japan-based holding company that operates in four business segments. The Music segment is engaged in the design, production and sale of music contents, the music distribution and publishing businesses, the management of artist talents, merchandising business, the operation of fan clubs, as well as the plan, production and operation of concert events. The Animation segment is engaged in the distribution of images, the design, production and sale of image contents, as well as the movie distribution businesses. The Digital segment is enagegd in the planning, production, sales and distribution of digital contents. The Overseas segment is engaged in the planning, production and sales of entertainment contents. The company also conducts venture investment business.
AVEX INC. 
