―1― Consolidated Financial Results (Japanese Accounting Standards) for the First Quarter Ended 31 December 2016 (Q1 FY2017) 26 January 2017 Company Name BEENOS Inc. Stock Exchange Listing Tokyo Stock Code 3328 URL http://www.beenos.com Representative President and Group CEO Shota Naoi Contact Executive Director and Group CFO Koji Nakamura (TEL) 03-5739-3350 Scheduled date for filing of securities report 14FEB2017 Scheduled date of commencement of dividend payment ― Supplementary documents for quarterly results: Yes Quarterly results briefing: Yes (for Analysts) (Amounts rounded down to the nearest million yen) 1.Consolidated Financial Results for the First Quarter Ended 31 December 2016 (1 October 2016 – 31 December 2016) (1)Consolidated Results of Operations (Accumulated Total) (% show year-on-year changes) Net sales Operating income Ordinary income Net income Million yen % Million yen % Million yen % Million yen % 1Q FY2017 4,970 6.8 88 △52.5 76 △59.6 △89 ― 1Q FY2016 4,655 10.8 185 △64.4 189 △62.8 109 △71.6 (Note) Comprehensive Income 1Q FY2017 235 Mil. yen ( 124.0 %) 1Q FY2016 105 Mil. yen ( △80.9 %) Net income per share (basic) Net income per share (diluted) Yen Yen 1Q FY2017 △7.31 ― 1Q FY2016 8.96 8.94 (2)Consolidated Financial Position Total assets Net assets Equity ratio Net assets per share Million yen Million yen % Yen 1Q FY2017 13,561 8,125 49.9 554.08 FY2016 13,095 8,025 51.1 548.80 (Reference) Shareholders’ equity 31DEC2016 6,773 Million yen 30SEP2016 6,695 Million yen 2.Dividends Dividend per share End of 1Q End of 2Q End of 3Q Year-end Total Yen Yen Yen Yen Yen FY2016 ― 0.00 ― 13.00 13.00 FY2017 ― FY2017(Forecast) 5.00 ― 13.00 18.00 (Note) Revisions to dividend forecasts published most recently: None (Note) Breakdown of the 2 nd Quarter dividend forecast: 5.00 yen Commemorative Dividend 3.Consolidated Forecast for the Fiscal Year Ending 30 September 2017 (1OCT2016 – 30SEP2017) (Percentage figures for the fiscal year represent the changes from the previous year) Net sales Operating income Ordinary income Net income Net income per share Million yen % Million yen % Million yen % Million yen % Yen FY2017 20,000 4.0 1,400 16.6 1,400 15.6 750 △20.3 61.47 (Note) Revisions to most recently published financial forecasts: None This is a translation of the original Japanese release. The Japanese text shall prevail in case of any variance between this version and the Japanese text.
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Consolidated Financial Results (Japanese Accounting Standards) · (1 October 2016 – 31 December 2016) (1)Consolidated Results of Operations (Accumulated Total) (% show year-on-year
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Consolidated Financial Results (Japanese Accounting Standards) for the First Quarter Ended 31 December 2016 (Q1 FY2017)
26 January 2017 Company Name BEENOS Inc. Stock Exchange Listing Tokyo Stock Code 3328 URL http://www.beenos.com Representative President and Group CEO Shota Naoi
Contact Executive Director and Group CFO Koji Nakamura (TEL) 03-5739-3350 Scheduled date for filing of securities
report 14FEB2017
Scheduled date of commencement
of dividend payment ―
Supplementary documents for quarterly results: Yes
Quarterly results briefing: Yes (for Analysts)
(Amounts rounded down to the nearest million yen)
1.Consolidated Financial Results for the First Quarter Ended 31 December 2016
(1 October 2016 – 31 December 2016)
(1)Consolidated Results of Operations
(Accumulated Total) (% show year-on-year changes)
Net sales Operating income Ordinary income Net income
Million yen % Million yen % Million yen % Million yen %
Income 1Q FY2017 235 Mil. yen ( 124.0 %) 1Q FY2016 105 Mil. yen ( △80.9 %)
Net income per share
(basic) Net income per share
(diluted)
Yen Yen
1Q FY2017 △7.31 ―
1Q FY2016 8.96 8.94
(2)Consolidated Financial Position
Total assets Net assets Equity ratio Net assets per share
Million yen Million yen % Yen
1Q FY2017 13,561 8,125 49.9 554.08
FY2016 13,095 8,025 51.1 548.80
(Reference) Shareholders’
equity 31DEC2016 6,773 Million yen 30SEP2016 6,695 Million yen
2.Dividends
Dividend per share
End of 1Q End of 2Q End of 3Q Year-end Total
Yen Yen Yen Yen Yen
FY2016 ― 0.00 ― 13.00 13.00
FY2017 ―
FY2017(Forecast) 5.00 ― 13.00 18.00
(Note) Revisions to dividend forecasts published most recently: None
(Note) Breakdown of the 2nd Quarter dividend forecast: 5.00 yen Commemorative Dividend
3.Consolidated Forecast for the Fiscal Year Ending 30 September 2017 (1OCT2016 – 30SEP2017) (Percentage figures for the fiscal year represent the changes from the previous year)
Net sales Operating income Ordinary income Net income Net income per
share
Million yen % Million yen % Million yen % Million yen % Yen
(Note) Revisions to most recently published financial forecasts: None
This is a translation of the original Japanese release. The Japanese text shall prevail in case of any variance between this version and the Japanese text.
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※ Notes
(1)Changes of important subsidiaries during period : None
(2)Application of particular accounts procedures to the
preparation of quarterly consolidated financial statements : None
(3)Changes in accounting policies and changes or restatement of accounting estimates
① Changes in accounting policies caused by revision of
accounting standards : None
② Changes in accounting policies other than ① : None
③ Changes in accounting estimates : None
④ Restatement : None
(4)Number of shares outstanding (common shares)
① Number of shares outstanding at the end of
period (including treasury shares) 1Q FY2017
12,266,600
shares FY2016
12,266,600
shares
② Number of treasury shares at end of period 1Q FY2017 42,418 shares FY2016 66,218 shares
③ Average number of shares outstanding
during the term 1Q FY2017
12,209,151
shares 1Q FY2016
12,195,696
shares
※ Status of a quarterly review
This financial summary does not need to undergo a quarterly review under the Financial Instruments and
Exchange Act. Procedures for a quarterly review of the consolidated financial statements are being followed at the
time of the announcement of this financial summary.
※ Explanations and other special notes concerning the appropriate use of business performance forecasts
The forward-looking statements such as result forecasts included in this document are based on the information
available to the Company at the time of the announcement and on certain assumptions considered reasonable, and
the Company makes no representations as to their achievability. Actual results may differ materially from the forecast
depending on a range of factors.
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○Table of Contents
1.Qualitative Information for this Quarter’s Results 4
(1)Business Performance Report 4
(2)Financial Status Report 5
(3)Report on Forecast Information including Consolidated Results 5
2.Notes on Summary Information 6
(1)Important transfers concerning the subsidiaries
this consolidated cumulative quarter 6
(2)Particular account processes in the preparation of
the quarterly consolidated financial statements 6
(3)Accounting changes, changes in accounting estimates, restatements 6
3.Quarterly Financial Statements 7
(1)Quarterly Consolidated Balance Sheet 7
(2)Quarterly Consolidated Profit & Loss Statement and
Quarterly Consolidated Statement of Comprehensive Income 9
Quarterly Consolidated Profit & Loss Statement
Consolidated Cumulative 3rd Quarter 9
Quarterly Consolidated Statement of Comprehensive Income
Consolidated Cumulative 3rd Quarter 9
(3)Notes to Quarterly Financial Statements 11
(Notes regarding the premise of a going concern) 11
(Notes regarding any significant changes in the amount of shareholder’s equity) 11
(Segment Information, etc.) 12
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1.Qualitative Information for this Quarter’s Results
(1)Business Performance Report
The BEENOS Group aims to become the “Neo-General Trading Company” by breaking new ground in IT and
internet based markets and businesses. This fiscal year’s strategical focus is to “Expand the domestic circulation
network and pioneer new contents,” “Broaden and strengthen network with foreign marketplaces,” and “Expand
the global commerce network through domestic and international investments and consultation.”
As a result, the 1st quarter consolidated net sales were 4,970 Million JPY (+6.8% from 1Q FY2016), the
operating income was 88 Million JPY (-52.5% from 1Q FY2016), the ordinary income was 76 Million JPY (-59.6%
from 1Q FY2016) and the net loss attributable to owners of the parent company was 89 Million JPY (net profit
attributable to owners of the parent company for 1Q FY2016 was 109 Million JPY).
The reason for the decrease in operating income and ordinary income compared to 1Q FY2016 is mainly
because there were no profits on operational investment securities in this quarter for the Incubation Business.
The E-Commerce Business is seeing an increase in revenue and profit. Also, the loss in profit attributable to
owners of the parent company occurred mainly because of the drawdown of deferred tax assets.
The achievements of each business segment are as follows.
① E-Commerce Business
The Cross Border Business’s Overseas Forwarding and Proxy Purchasing Business FROM JAPAN has
increased the number of compatible websites for its proxy purchasing service “Buyee” and has actively invested
in shipping fee discount promotions. It has also increased the number of accepted currencies for online payments
to better the service’s usability. The depreciated yen also served as a tailwind to boost GMV, net sales and
operating income.
The Global Shopping Business TO JAPAN implemented new services and systems as a result of the
internalization of its US warehouse and customer support. It also increased the number of marketing channels
to increase GMV, net sales and operating income.
As a result, the consolidated net sales were 1,006 Million JPY (+6.6% from 1Q FY2016) and the operating
income was at a record high 158 Million JPY (+487.8% from 1Q FY2016).
The Value Cycle Business on the purchasing side has continued to conduct mass advertising for its brand-
name product buy back service website “Brandear” from the previous quarter along with the upgrading of the
group of buyback affiliated websites to increase usability. It has also tied-up with a fashion EC website for
buyback services. As a result, buyback items and value have both increased. The vending side has conducted a
systems upgrade of its “Brandear Auction” site to increase usability and listed a lot of big ticket items for the
year-end holiday season and saw a healthy increase in net sales.
The Value Cycle Business has also made anticipatory investments in hiring more engineers to develop and
operate a new system compatible for the long term growth of the business.
As a result, the consolidated net sales were 2,664 Million JPY (+12.3% from 1Q FY2016) and the operating
income was 12 Million JPY (-17.5% from 1Q FY2016).
The Producing and Licensing Business of the Retailing and Licensing Business has strengthened its EC by
renewing the official EC websites of popular singing groups and the artists which it holds the master licensing
rights of. It also conducted a trial to increase the awareness of Japanese artist brands in the global distribution
market by selling its master licensed brand products at a store in Taiwan.
The Internet Shopping Business has increased its conversion rate by evolving its customer portfolio
management and used its resources to increase the development and sales of its original fashion and beauty
products.
As a result, the consolidated net sales were 1,296 Million JPY (+12.4% from 1Q FY2016) and the operating
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income was 47 Million JPY (-10.3% from 1Q FY2016).
For the E-Commerce Business as a whole this quarter, the consolidated net sales were 4,967 Million JPY
(+11.1% from 1Q FY2016) and the operating income was 219 Million JPY (+129.4% from 1Q FY2016).
② Incubation Business
The Incubation Business has continued to invest in businesses in online general marketplaces and online
payments in prominent emerging countries along with investing in specialized online marketplaces. It has been
focusing on large markets including automobile, real estate, fashion and healthcare.
It has also seen a business opportunity in the increasing number of foreign visitors to Japan and has invested
domestically in a business in the online homestay/guest house marketplace that offers a collective management
tool for that market.
As a result, the consolidated net sales were 2 Million JPY (-98.7% from 1Q FY2016) and the operating loss was
37 Million JPY (the operating income for 1Q FY2016 was 166 Million JPY).
(2)Financial Status Report
①Financial Status Analysis
(ⅰ)Assets
The total assets for the first quarter consolidated accounting period was 13,561 Million JPY which is an
increase of 466 Million JPY from the previous end of the consolidated fiscal year.
The breakdown of the funds are the following: Total current assets are at 12,057 Million JPY which is a 270
Million JPY increase from the end of FY2016. Increasing factors include 547 Million JPY in operational
investment securities, 226 Million JPY in accounts receivable and 192 Million JPY in notes and accounts
receivable-trade. Decreasing factors include 585 Million JPY in cash and deposits and 145 Million JPY in
deferred tax assets-current.
Furthermore, the total fixed assets rose to 1,504 Million JPY which is a 196 Million JPY increase from the
previous end of the consolidated fiscal year. The main factors were a 109 Million JPY increase in investment
account security and a 58 Million JPY increase in goodwill.
(ⅱ)Liabilities
The total liabilities for the first quarter consolidated accounting period was 5,436 Million JPY which is a 366
Million JPY increase from the previous end of the consolidated fiscal year.
The breakdown of the funds are the following: Total current liabilities are at 5,167 Million JPY which is a 336
Million JPY increase from the previous end of the consolidated fiscal year. Increasing factors include 297 Million
JPY in deposits received, 162 Million JPY in accounts payable, and 60 Million JPY in short-term loans.
Decreasing factors include 111 Million JPY in income taxes payable.
Furthermore, total fixed liabilities rose to 269 Million JPY which is a 30 Million JPY increase from the
previous end of the consolidated fiscal year. The main factor was a 30 Million JPY in long-term loans.
(ⅲ)Net Assets
The total net assets for the first quarter consolidated accounting period was 8,125 Million JPY which is a 99
Million JPY increase from the previous end of the consolidated fiscal year. Increasing factors include 250 Million
JPY in exchange conversion adjustment account and 70 Million JPY in valuation difference on available-for-sale
securities. Decreasing factors include 188 Million JPY in capital surplus and 89 Million JPY in earned surplus.
(3)Report on Forecast Information including Consolidated Results
There are no changes to the forecasts made on 27 October 2016 for the 2017 Fiscal Year.
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2.Notes on Summary Information
(1)Important transfers concerning the subsidiaries this consolidated cumulative quarter
Not applicable.
(2)Particular account processes in the preparation of the quarterly consolidated financial statements
Not applicable.
(3)Accounting changes, changes in accounting estimates, restatements
Not applicable.
(4)Additional Information
(Application of Implementation Guidance on Recoverability of Deferred Tax Assets)
The “Implementation Guidance on Recoverability of Deferred Tax Assets” (Accounting Standards Board of Japan
Guidance No. 26, 28 March 2016) has been applied as of the 1st quarter’s consolidated fiscal results.
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3.Quarterly Financial Statements
(1)Quarterly Consolidated Balance Sheet
(Unit: 1,000 JPY)
Year-end FY2016
(30 September 2016) 1Q FY2017
(31 December 2016)
Assets Section
Current Assets
Cash and Deposit 6,307,317 5,722,174
Notes and Accounts Receivable-trade 914,843 1,107,767