Top-line growth continued, however, SG&A expenses increased due to strategic spending and
other factors, resulting in increased billings and decreased profits.
- The recovery in domestic advertising demand continued, although there were signs of a partial reduction in placements against the supply chain stagnation and rising resource prices. Billings increased by 6.8% YoY, partly
due to the boost from overseas operations. *
- Gross margin improved by 0.3pt, up by 8.2% YoY. *
- In Japan, billings from the four mass media businesses decreased YoY, but billings from Internet media, outdoor media, and non-media businesses such as marketing/promotion increased YoY.
- Overseas, in addition to the continued recovery trend, the impact of foreign exchange fluctuations and M&As also boosted performance.
- SG&A expenses increased by 10.3% YoY due to strategic spending and the return of activity expenses, and operating income decreased by 7.2% YoY. *
(*) These numbers are calculated based on excluding the investment business