DIGITAL HEARTS : Notice Regarding Revision of Financial Forecast for the Fiscal Year Ended March 31, 2021
April 23, 2021 at 03:02 am EDT
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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.
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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.
DIGITAL HEARTS HOLDINGS Co., Ltd. , formerly Hearts United Group Co., Ltd., is a Japan-based holding company engaged in the operation of debugging business, media business, Creative business and others. The Company operates in three business segments. The Debugging segment provides debugging services and related services in consumer games, digital solutions and amusement business areas. The Media segment mainly provides promotional activity support services through the planning and operation of the comprehensive game information site 4Gamer.net. The Creative segment provides production support services throughout content creation. The others business provides system development services.