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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Recruit Holdings Co., Ltd.    6098   JP3970300004

RECRUIT HOLDINGS CO., LTD.

(6098)
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Recruit : Earnings Release

11/16/2020 | 01:33am EST

Recruit Holdings Co., Ltd. (TSE 6098)

Consolidated Financial Results for Q2 FY2020

November 16, 2020

Recruit Holdings Co., Ltd. (TSE 6098)

Consolidated Financial Results for the Six Months Ended September 30, 2020 (IFRS, Unaudited)

Tokyo, November 16, 2020 ― Recruit Holdings Co., Ltd. announced today its consolidated financial results for the six months ended September 30, 2020 (April 1, 2020 to September 30, 2020).

(Amounts are rounded down to the nearest million yen)

Consolidated Operating Results

Six Months Ended September 30,

% change

(In millions of yen, unless otherwise stated)

2019

2020

Revenue

1,201,201

1,044,621

-13.0%

Adjusted EBITDA

177,757

123,422

-30.6%

Operating income

142,659

74,729

-47.6%

Profit before tax

157,834

78,490

-50.3%

Profit for the period

114,946

63,121

-45.1%

Profit attributable to owners of the parent

114,148

62,533

-45.2%

Profit available for dividends

105,770

62,058

-41.3%

Total comprehensive income

83,063

84,263

1.4%

Basic EPS (yen)

68.32

37.92

-

Diluted EPS (yen)

68.19

37.87

-

Adjusted EPS (yen)

67.96

41.83

-38.4%

Note: Revenue for the six months ended September 30, 2020 includes 29.5 billion yen from the Rent Assistance Program by The Small and Medium Enterprise Agency of the Ministry of Economy in Japan.

Consolidated Financial Position

(In millions of yen, unless otherwise stated)

As of March 31, 2020

As of September 30, 2020

Total assets

1,998,917

2,070,539

Total equity

995,743

1,053,995

Equity attributable to owners of the parent

988,449

1,046,080

Ratio of equity attributable to owners of the parent (%)

49.4%

50.5%

Dividends

(In yen)

FY2019

FY2020

FY2020 (Forecast)

At the end of Q1

-

-

At the end of Q2

15.00

9.50

At the end of Q3

-

-

At the end of Q4

15.00

9.50

Total

30.00

19.00

The Company is providing FY2020 dividend forecast for the first time.

Consolidated Financial Guidance for FY2020

The Company provides guidance of key financial metrics for FY2020 as below:

The Year Ending March 31, 2021

(In millions of yen, unless otherwise stated)

Expected range

Year on year % change

Revenue

2,149,647

-

2,244,647

-10.4%

-

-6.5%

Adjusted EBITDA

210,022

-

245,022

-35.4%

-

-24.6%

Operating income

111,729

-

146,729

-45.8%

-

-28.8%

Profit before tax

115,990

-

150,990

-48.7%

-

-33.2%

Profit for the period

94,121

-

119,121

-48.1%

-

-34.3%

Profit attributable to owners of the parent

93,033

-

118,283

-48.3%

-

-34.2%

Adjusted EPS (yen)

62.83

-

77.83

-48.1%

-

-35.7%

Please refer to page 10, Qualitative Information on Consolidated Financial Guidance for more details.

1

Recruit Holdings Co., Ltd. (TSE 6098)

Consolidated Financial Results for Q2 FY2020

Changes in Significant Subsidiaries Resulting from Change in Scope of Consolidation

There was no change in specific subsidiaries accompanying a change in the scope of consolidation.

Changes in Accounting Policies and Changes in Accounting Estimates

There has been no change in: (1) accounting policies required by IFRS, (2) accounting policies other than the foregoing item (1), and (3) accounting estimates.

Number of Issued Shares - Common Stock

As of March 31, 2020

As of September 30, 2020

Number of issued shares including treasury stock

1,695,960,030

1,695,960,030

Number of treasury stock

47,574,459

46,646,631

Six Months Ended

Six Months Ended

September 30, 2019

September 30, 2020

Average number of shares during the period

1,670,791,887

1,648,950,058

Definition of the Abbreviation

Abbreviation

Definition

Recruit Holdings, the Holding Company

Recruit Holdings Co., Ltd. on a standalone basis

the Company, Recruit Group

Recruit Holdings Co., Ltd. and its consolidated subsidiaries

SBU

Strategic Business Unit

Q1

Three-month period from April 1 to June 30

Q2

Three-month period from July 1 to September 30

Q3

Three-month period from October 1 to December 31

Q4

Three-month period from January 1 to March 31

FY2020

Fiscal year from April 1, 2020 to March 31, 2021

FY2019

Fiscal year from April 1, 2019 to March 31, 2020

Definition of the Financial Measures

Financial Measures

Definition

Adjusted EBITDA

Operating income + depreciation and amortization (excluding depreciation of right-of-use assets) ±

other operating income/expenses

Adjusted profit

Profit attributable to owners of the parent ± adjustment items (excluding non-controlling interests)

± tax reconciliation related to certain adjustment items

Adjusted EPS

Adjusted profit​/ (number of issued shares at the end of the period - number of treasury stock at the

end of the period)

Profit available for dividends

Profit attributable to owners of the parent ± non-recurring income/losses ± tax reconciliation related to

certain non-recurring income/losses

Adjustment items

Amortization of intangible assets arising due to business combinations ± non-recurring income/losses

Non-recurring income/losses

Gains or losses from disposals of shares of associates, expenses relating to company restructuring,

gains or losses from the sale or impairment of property and equipment, and income and expense

items that the Company believes are unusual or non-recurring in nature which do not reflect the

Company's underlying results of operations

Average exchange rate during the period

FY2019

FY2020

(In yen)

Q1

Q2

Q3

Q4

Q1

Q2

cumulative

cumulative

cumulative

cumulative

US dollar

109.90

108.60

108.65

108.70

107.63

106.93

Euro

123.50

121.40

121.04

120.81

118.59

121.34

Australian dollar

76.95

75.24

74.91

74.11

70.74

73.32

The amount of exchange rate effects on revenue for Q2 FY2020 is calculated by deducting the amount of the three month period of FY2020 from the amount of the six month period of FY2020.

2

Recruit Holdings Co., Ltd. (TSE 6098)

Consolidated Financial Results for Q2 FY2020

Quarterly earnings releases are not subject to review by a certified public accountant nor an independent auditor.

Forward-Looking Statements

This document contains forward-looking statements, which reflect the Company's assumptions and outlook for the future and estimates based on information available to the Company and the Company's plans and expectations as of the date of this document or other date indicated. There can be no assurance that the relevant forecasts and other forward-looking statements will be achieved. Please note that significant differences between the forecasts and other forward-looking statements and actual results may arise due to various factors, including changes in economic conditions, changes in individual users' preferences and enterprise clients' needs, competition, changes in the legal and regulatory environment, fluctuations in foreign exchange rates, and other factors. Accordingly, readers are cautioned against placing undue reliance on any such forward-looking statements. The Company has no obligation to update or revise any information contained in this document based on any subsequent developments except as required by applicable law or stock exchange rules and regulations.

Note Regarding Reference Translation

This document has been translated from the Japanese language original for reference purposes only and may not be used or disclosed for any other purpose without the Company's prior written consent. In the event of any conflict or discrepancy between this translated document and the Japanese language original, the Japanese language original shall prevail in all respects. The Company makes no representations regarding the accuracy or completeness of this translation and assumes no responsibility for any losses or damages arising from the use of this translation.

Third-Party Information

This document includes information derived from or based on third-party sources, including information about the markets in which the Company operates. These statements are based on statistics and other information from third-party sources as cited herein, and the Company has not independently verified and cannot assure the accuracy or completeness of any information derived from or based on third-party sources.

A full set of materials regarding Q2 FY2020 results announcement is posted onhttps://recruit-holdings.com/ir/library/report/

Contact

Investor Relations +81-3-6835-1111Recruit_HD_IR@r.recruit.co.jp

3

Recruit Holdings Co., Ltd. (TSE 6098)

Consolidated Financial Results for Q2 FY2020

Table of Contents

1. Management's Discussion and Analysis

5

Consolidated Results of Operations

5

Results of Operations by Segment

5

Management Actions for Q2 FY2020

9

Analysis of Consolidated Financial Position

9

Analysis of Consolidated Cash Flows

10

2. Qualitative Information on Consolidated Financial Guidance

10

3. Condensed Quarterly Consolidated Financial Statements and Primary Notes

12

Condensed Quarterly Consolidated Statements of Financial Position

12

Condensed Quarterly Consolidated Statements of Profit or Loss

13

Condensed Quarterly Consolidated Statements of Comprehensive Income

14

Condensed Quarterly Consolidated Statements of Changes in Equity

16

Condensed Quarterly Consolidated Statements of Cash Flows

18

Going Concern Assumption

19

Notes to Condensed Quarterly Consolidated Financial Statements

19

4

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

Disclaimer

Recruit Holdings Co. Ltd. published this content on 16 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 November 2020 06:32:02 UTC


© Publicnow 2020
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Sales 2021 2 180 B 20 963 M 20 963 M
Net income 2021 114 B 1 100 M 1 100 M
Net cash 2021 399 B 3 839 M 3 839 M
P/E ratio 2021 65,7x
Yield 2021 0,45%
Capitalization 7 889 B 76 084 M 75 840 M
EV / Sales 2021 3,43x
EV / Sales 2022 3,13x
Nbr of Employees 49 370
Free-Float 78,5%
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 4 665,71 JPY
Last Close Price 4 537,00 JPY
Spread / Highest target 19,0%
Spread / Average Target 2,84%
Spread / Lowest Target -51,5%
EPS Revisions
Managers and Directors
NameTitle
Masumi Minegishi President, CEO & Representative Director
Hisayuki Idekoba COO, Director, Executive VP & GM-Finance
Shogo Ikeuchi Director
Ayano Senaha Director & Chief Human Resources Officer
Naoki Izumiya Independent Outside Director
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