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    3676   JP3765110006

DIGITAL HEARTS HOLDINGS CO., LTD.

(3676)
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DIGITAL HEARTS : Notice Regarding Revision of Financial Forecast for the Fiscal Year Ended March 31, 2021

04/23/2021 | 03:02am EDT

Company name:

Name of representative:

Contact:

April 23, 2021

DIGITAL HEARTS HOLDINGS Co., Ltd.

President and CEO

Genichi Tamatsuka

(Code number: 3676, First Section of the Tokyo

Stock Exchange)

Director and CFO

Toshiya Tsukushi

(TEL. +81-3-3373-0081)

Notice Regarding Revision of Financial Forecast

for the Fiscal Year Ended March 31, 2021

DIGITAL HEARTS HOLDINGS Co., Ltd. (hereinafter referred to as the "Company") announces that a meeting of its board of directors held today resolved that, given the trends of its recent business performance, the Company has revised its financial forecast for the fiscal year ended March 31, 2021 which was announced on August 11, 2020.

The details are as follows:

1. Revision of consolidated financial forecast for the fiscal year ended March 31, 2021 (from April 1, 2020 to March 31, 2021)

Net sales

Operating

Ordinary

Profit attributable to

Net income

income

income

owners of parent

per share

Million yen

Million yen

Million yen

Million yen

yen

Previous forecast (A)

23,080

1,600

1,600

1,100

51.09

Revised forecast (B)

23,080

1,900

1,950

1,000

46.33

Change (B - A)

-

300

350

-100

% Change

-

18.8

21.9

-9.1

Actual amount for the

previous fiscal year (fiscal

21,138

1,394

1,372

792

36.31

year ended March 31, 2020)

2. Reason for revision

In the fiscal year ended March 2021, net sales generally progressed in line with the initial plan. This is because the developing Enterprise Business continued to grow dramatically, and the other Entertainment Business, recovering from temporary declines in the first half of the year due to the COVID-19, acquired new projects in the game industry, which has a strong demand with stay-at-home trend, in the second half. Operating income and ordinary income are expected to exceed the initial forecasts due to the strong performance of the Enterprise Business turning to profitable as a full year with rapid sales growth and of the Entertainment Business achieving the operational reforms of its nationwide test centers to make better gross margin. On the other hand, net income attributable to owners of parent is expected to be lower than the initial forecast due to the expected recording of impairment losses of approximately 90 million yen on goodwill arising from the acquisition of shares in Orgosoft Co., Ltd., and those losses of approximately 300 million yen related to the software for internal use of the Company. Accordingly, full year consolidated earnings forecast has been revised as described above.

  • The above forecasts are based on information currently available and actual results may differ from these forecasts due to a variety of factors.

Disclaimer

Hearts United Group Co. Ltd. published this content on 23 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 April 2021 07:01:02 UTC.


© Publicnow 2021
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Financials
Sales 2022 28 150 M 257 M 257 M
Net income 2022 1 440 M 13,1 M 13,1 M
Net Debt 2022 - - -
P/E ratio 2022 23,7x
Yield 2022 0,95%
Capitalization 34 084 M 311 M 311 M
Capi. / Sales 2022 1,21x
Capi. / Sales 2023 1,05x
Nbr of Employees 1 431
Free-Float 40,4%
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Number of Analysts 1
Last Close Price 1 577,00 JPY
Average target price 2 000,00 JPY
Spread / Average Target 26,8%
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Managers and Directors
Yasumasa Ninomiya President, CEO & Representative Director
Toshiya Tsukushi Chief Financial Officer, Director & Vice President
Eiichi Miyazawa Chairman
Takashi Yanagiya Independent Outside Director
Gaku Ishiwata Outside Director
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