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    6028   JP3545240008

TECHNOPRO HOLDINGS, INC.

(6028)
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TechnoPro : FY2021 Full Year Financial Results Slide Presentaion

08/10/2021 | 02:30am EDT

TechnoPro Group Financial Results for Fiscal Year Ended June 2021

TechnoPro Holdings, Inc. (code: 6028,TSE)

August 10, 2021

Copyright © TechnoPro Holdings, Inc. All rights reserved.

Contents

Page

I

: FY2021 Q4 & Full-Year Financial Overview

2

II

: KPI Analysis

8

i Number of Engineers & Utilization Ratio

8

ii Unit Sales Price

13

III

Overseas Subsidiaries

14

IV

Shareholder Return

15

V

FY2022 Guidance

16

VI

Appendix

19

VII

Data References

22

  1. Accounting figures are rounded down to the nearest unit unless otherwise stated; KPI figures exclude "Other Businesses in Japan" and "Overseas" segments
  2. "Net profit" refers to net profit attributable to owners of the parent company after deducting non-controlling interests
  3. "Core operating profit" is calculated by subtracting SG&A expenses from gross profit, excluding extraordinary items (ex. government subsidy, impairment loss) recognized in other income or other expenses
  4. "Operating profit before PPA asset amortization" is calculated by adding back following items to operating profit: 1) amortization of client related asset incurred by Purchase Price Allocation at M&A transactions, 2) impairment loss, 3) changes in fair value amount and early exercise of put option liabilities, and 4) changes in fair value amount of earn-our liabilities

Copyright © TechnoPro Holdings, Inc. All rights reserved.

1

FY2021 Q4 & Full-Year Financial Overview

  • Full-yearFY21.6 revenue was 161.3 billion yen, up 1.8 % year-on-year; operating profit was 19.46 billion yen(including 1.78 billion yenof government subsidy for continuous employment in Japan), up 23.4% year-on-year; core operating profit was 17.63 billion yen, up 8.4% year-on-year; net profit was 13.24 billion yen, up 22.4% year-on-year
  • Full-yearFY21.6 gross profit margin decreased 0.8 ptsyear-on-year, mainly due to 1) a decline of unit sales price (0.2 pts) affected by a decrease in working hours, 2) an increase of provision for paid leave (0.2 pts), and 3) an increase in employer- contribution for the defined contribution pension plan (0.3 pts), while SG&A expenses ratio on revenue improved 1.4 ptsyear-on-year driven by continued cost-saving efforts, thereby core operating profit margin continues to expand 0.7 ptsyear- on-year

(yen in millions, except per share amounts)

Q4 (three-month period)

Full-Year

FY20.6

FY21.6

FY20.6

FY21.6

FY21.6

(Results)

(Results)

YOY

(Results)

(Guidance)

(Results)

YOY

vs. Guidance

Revenue

38,916

41,135

+2,219

+5.7%

158,407

159,000

161,316

+2,909

+1.8%

+2,316

1.5%

Gross profit

9,273

10,840

+1,566

+16.9%

40,226

39,727

(499)

(1.2%)

GP margin

23.8%

26.4%

+2.5 pts

25.4%

24.6%

(0.8 pts)

SG&A expenses

5,856

6,387

+530

+9.1%

23,960

22,087

(1,872)

(7.8%)

Ratio on revenue

15.0%

15.5%

+0.5 pts

15.1%

13.7%

(1.4 pts)

Core operating profit

3,416

4,452

+1,035

+30.3%

16,265

17,639

+1,373

+8.4%

Core OP margin

8.8%

10.8%

+2.0 pts

10.3%

10.9%

+0.7 pts

Other income

290

177

(112)

649

2,162

+1,512

Other expenses

1,005

48

(956)

1,143

340

(802)

Operating profit

2,701

4,581

+1,879

+69.6%

15,772

18,000

19,461

+3,688

+23.4%

+1,461

8.1%

OP margin

6.9%

11.1%

+4.2 pts

10.0%

11.3%

12.1%

+2.1 pts

+0.7 pts

Profit before income taxes

2,754

4,570

+1,815

+65.9%

15,843

18,000

19,472

+3,629

+22.9%

+1,472

8.2%

Net profit

1,845

2,996

+1,150

+62.4%

10,825

12,300

13,245

+2,420

+22.4%

+945

7.7%

Net profit margin

4.7%

7.3%

+2.5 pts

6.8%

7.7%

8.2%

+1.4 pts

+0.5 pts

Earnings per share (yen)*

51.39

83.44

+32.05

+62.4%

299.97

342.54

368.88

+68.91

23.0%

+26.34

7.7%

Dividend per share (yen)*

150.00

172.00

185.00

+35.00

23.3%

+13.00

7.6%

* Per share amounts were calculated by using the number of shares before the three-for-onestock splitwhich was in effect on July 1, 2021

Copyright © TechnoPro Holdings, Inc. All rights reserved.

2

Reference: Quarterly Performance

Revenue

(yen in billions)

60.0

38.8

39.1

40.1

40.2

40.4

40.7

38.9

41.1

158.4

161.3

200.0

40.0

100.0

FY20.6: Results

20.0

FY21.6: Results

0.0

0.0

FY20.6

FY21.6

FY20.6

FY21.6

FY20.6

FY21.6

FY20.6

FY21.6

FY20.6

FY21.6

Q1

Q1

Q2

Q2

Q3

Q3

Q4

Q4

Full-yearFull-year

YOY

+0.8%

+0.3

+0.7%

+5.7

+1.8

Progress on full-year %

24.6%

24.3%

25.3%

25.0%

25.5%

25.2%

24.6%

25.5%

100.0

100.0

Ave. no. of engineers

19,523

20,795

19,866

20,287

20,165

19,986

21,370

20,229

20,231

20,324

Ave. utilization ratio

95.5%

92.7%

95.9%

94.8%

95.4%

96.2%

89.8%

94.7%

94.0%

94.6%

Ave. monthly unit sales

626

620

635

637

638

640

620

639

630

634

price (thousand yen)*

Working days*

56.5

56.2

58.1

58.6

55.8

56.5

56.7

57.7

227.1

229.0

Working hours per day*

8.56

8.44

8.56

8.47

8.56

8.51

8.39

8.47

8.52

8.47

* Figures of two major subsidiaries in Japan (TechnoPro, Inc. & TechnoPro Construction, Inc.)

Operating

6.0

5.3

5.1

19.4

4.3

4.3

4.8

4.5

15.7

20.0

Profit

4.0

3.8

2.7

10.0

2.0

0.0

0.0

FY20.6

FY21.6

FY20.6

FY21.6

FY20.6

FY21.6

FY20.6

FY21.6

FY20.6

FY21.6

Q1

Q1

Q2

Q2

Q3

Q3

Q4

Q4

Full-year

Full-year

FY20.6: Results

FY21.6: Results

YOY

+12.2%

+22.8

+7.2%

+69.6

+23.4

Progress on full-year %

24.6%

22.4%

27.5%

27.4%

30.7%

26.7%

17.1%

23.5%

100.0

100.0

OP margin

10.0%

11.1%

10.8%

13.2%

12.0%

12.8%

6.9%

11.1%

10.0

12.1%

Copyright © TechnoPro Holdings, Inc. All rights reserved.

3

Reference: Quarterly Performance (continued)

Gross Profit

39.7

(yen in billions)

15.0

10.5

9.6

10.8

10.3

10.8

40.2

50.0

9.5

8.8

9.2

FY20.6: Results

10.0

25.0

5.0

0.0

0.0

FY21.6: Results

FY20.6

FY21.6

FY20.6

FY21.6

FY20.6

FY21.6

FY20.6

FY21.6

FY20.6

FY21.6

Q1

Q1

Q2

Q2

Q3

Q3

Q4

Q4

Full-yearFull-year

YOY

(6.9)

(8.8)

(4.4)

+16.9

(1.2)

GP margin

24.5

22.7

26.3

23.9

26.8

25.4

23.8

26.4

25.4

24.6

SG&A

9.0

23.9

30.0

6.1

6.1

6.3

22.0

5.8

5.0

5.1

5.4

5.8

FY20.6: Results

6.0

15.0

3.0

0.0

0.0

FY21.6: Results

FY20.6

FY21.6

FY20.6

FY21.6

FY20.6

FY21.6

FY20.6

FY21.6

FY20.6

FY21.6

Q1

Q1

Q2

Q2

Q3

Q3

Q4

Q4

Full-yearFull-year

YOY

(13.8)

(15.5)

(10.5)

+9.1

(7.8)

Ratio on revenue

15.0

12.9

15.3

12.9

15.1

13.4

15.0

15.5

15.1

13.7

Core

6.0

4.4

4.4

4.7

4.8

4.4

16.2

17.6

20.0

Operating

3.6

3.8

3.4

FY20.6: Results

4.0

Profit

10.0

2.0

0.0

0.0

FY21.6: Results

FY20.6

FY21.6

FY20.6

FY21.6

FY20.6

FY21.6

FY20.6

FY21.6

FY20.6

FY21.6

Q1

Q1

Q2

Q2

Q3

Q3

Q4

Q4

Full-yearFull-year

YOY

+4.2

+0.6

+3.3

+30.3

+8.4

Core OP margin

9.5

9.8

11.0

11.0

11.7

12.0

8.8

10.8

10.3

10.9

Copyright © TechnoPro Holdings, Inc. All rights reserved.

4

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

Disclaimer

TechnoPro Holdings Inc. published this content on 10 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2021 06:30:03 UTC.


© Publicnow 2021
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Sales 2022 172 B 1 513 M 1 513 M
Net income 2022 11 877 M 104 M 104 M
Net cash 2022 10 589 M 93,0 M 93,0 M
P/E ratio 2022 33,0x
Yield 2022 1,52%
Capitalization 391 B 3 438 M 3 433 M
EV / Sales 2022 2,21x
EV / Sales 2023 1,99x
Nbr of Employees 21 692
Free-Float 99,4%
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Number of Analysts 7
Last Close Price 3 630,00 JPY
Average target price 3 228,57 JPY
Spread / Average Target -11,1%
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Managers and Directors
Yasuji Nishio President, CEO & Representative Director
Toshihiro Hagiwara CFO & Managing Executive Officer
Toshiyuki Adachi Executive Officer & Head-Information Systems
Koichiro Asai Director & Co-Head-Operations
Tsunehiro Watabe Independent Outside Director
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