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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Gurunavi, Inc.    2440   JP3274180003

GURUNAVI, INC.

(2440)
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Gurunavi : Notice regarding Earnings Forecast, Interim Dividends, Year-End Dividend Forecast, and Voluntary Return of Executive Compensation

10/28/2020 | 01:20am EST

For immediate release

Name of Listed Company:

Gurunavi, Inc.

Listed Stock Exchanges:

Tokyo Stock Exchange

Stock Code:

2440

Representative:

Akio Sugihara, President

Notice Regarding Full-Year Business Forecast, Determination of Interim Dividends from Retained Earnings

and Year-End Dividend Forecast for the Fiscal Year ending March 31, 2021,

and Voluntary Return of Executive Compensation

October 28, 2020 ̶Gurunavi, Inc. (the "Company") hereby announces its full-year business forecast for the fiscal year ending March 31, 2021, dividends from retained earnings which applies to the Company's shareholders of record on September 30, 2020 (resolved at the board of directors of the Company held today) and year-end dividend forecast which had been undecided in the "Consolidated Financial Results for the Fiscal Year Ended March 31, 2020 " dated May 8, 2020 as follows.

Furthermore, directors and corporate auditor of the Company will voluntarily return part of their compensation.

1. Consolidated business forecasts

  1. Full-yearconsolidated business forecast for the fiscal year ended March 31, 2021 (April 1, 2020 to March 31, 2021)

Net

Operating

Ordinary

income/loss

Basic

Net sales

attributable to

earnings per

Income/loss

Income/loss

owners of

share

parent

Forecast previously

Million yen

Million yen

Million yen

Million yen

yen

announced (A)

New Forecast (B)

17,800

(9,200)

(9,200)

(9,500)

(202.54)

Difference (B-A)

Rate of difference (%)

(Reference)

30,927

1,821

1,894

949

20.26

Results for the fiscal year

ended March 31, 2020

(2) Reasons for earnings forecast

Our main customers, restaurants, saw a significant decline in sales especially in April-May by shortened business hours, temporary closures, and consumers' self-restraint from going out due to the spread of COVID-19. At the Company, net sales in the first half of this fiscal year decreased 61.6% year on year to JPY 5,824 million, resulting in operating loss of JPY 4,939 million, ordinary loss of JPY 4,927 million, and net loss attributable to owners of parent of JPY 5,446 million due to temporary suspension and exemption of membership fee payment to support the continuation of management of restaurants, and decrease in online reservation due to the decline in demand for eating out.

Currently, the number of people infected with COVID-19 has remained high, and the level of socio-economic activity is gradually being raised while taking measures to prevent the spread of infection. Based on the premise that this situation will continue until March 2021, the Company expects that the sluggish demand for

1

eating out will recover to some extent in the second half due to the effects of demand stimulus measures such as the "Go To Eat" campaign. As a result, the sales of the Company are expected to increase from the first half due to a significant increase in the number of online reservations with an increase in member restaurants and a decrease in the contract amount reduction by member restaurants. On the other hand, a moderate recovery of profits is expected as the expansion of online reservation fee sales whose variable cost rate is high will drive the growth of sales, and advertising costs related to stimulating eating out demand and costs related to office consolidation and reduction will be temporarily incurred.

Based on the above, the Company has calculated the full-year earnings forecast for the fiscal year ending March 2021 as described in (1) above.

Since the Company believes that the reconstruction of the restaurant industry will lead to the recovery and regrowth of its own business performance, the Company is actively working on restaurant support services in the fields of increasing customer attraction (sales expansion) and improving operational efficiency. At the same time, the Company is working to improve its profit structure by promoting productivity improvement and reduction of fixed costs.

The above forecast is based on information available at the time of this announcement and is subject to a number of uncertainties. Actual results could differ materially from this forecast due to changes in business conditions and other factors.

2. Dividends

(1) Interim Dividends from Retained Earnings

Actual interim dividend

Resolution content

Latest forecast

for the fiscal year ended

March 31, 2020

Record date

September 30, 2020

Same as on the left

September 30, 2019

Dividend per share

JPY 0.00

Undecided

JPY 4.00

Total dividend amount

JPY 187 million

Effective date

December 2, 2019

Resource of dividend

Retained earnings

(2) Dividend forecast for the fiscal year ended March 31, 2021

Annual dividends

Second quarter-end

Fiscal year-end

Total

Forecast previously

Yen

Yen

Yen

announced

New Forecast

0.00

0.00

Results for the fiscal year

0.00

ended March 31, 2021

(Reference)

Results for the fiscal year

4.00

4.00

8.00

ended March 31, 2020

(3) Reasons

The Company regards the return of profits to its shareholders as an important management issue. With the maximization of corporate value in mind, our basic policy is to return profits in accordance with the earnings

2

situation, taking into consideration the maintenance of a sound financial structure and enhancement of internal reserves to prepare for aggressive business development. Base on a consolidated payout ratio of about 40%, we are working on continuous profit distribution in consideration of factors including consolidated business results and return on equity.

It is regrettable that the Company will not pay dividends for the current fiscal year because we believe that securing internal reserves in preparation for aggressive business development to contribute to the revival of the restaurant industry is the most important issue at this time, in light of our earnings forecasts mentioned above.

3. Voluntary return of executive compensation

In view of the harsh business environment due to the spread of COVID-19, directors and corporate auditor of the Company will voluntarily return part of their compensation as follows.

Directors other than outside directors Full-time corporate auditor

Amount equivalent to 20% of the annual fixed basic compensation Amount equivalent to 10% of the annual fixed basic compensation

3

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Gurunavi Inc. published this content on 28 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 October 2020 06:19:03 UTC


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Sales 2021 15 200 M 146 M 146 M
Net income 2021 -9 500 M -91,5 M -91,5 M
Net Debt 2021 - - -
P/E ratio 2021 -2,58x
Yield 2021 -
Capitalization 24 491 M 236 M 236 M
Capi. / Sales 2021 1,61x
Capi. / Sales 2022 1,10x
Nbr of Employees 1 476
Free-Float 56,9%
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Technical analysis trends GURUNAVI, INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 1
Average target price 720,00 JPY
Last Close Price 522,00 JPY
Spread / Highest target 37,9%
Spread / Average Target 37,9%
Spread / Lowest Target 37,9%
EPS Revisions
Managers and Directors
NameTitle
Akio Sugihara President & Representative Director
Hisao Taki Chairman
Kazuya Saito Manager-Information Systems
Koichi Tsukihara Independent Outside Director
Naho Kono Outside Director
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