BEENOS INC. 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.
Consolidated Financial Results (Japanese Accounting Standards)
For the Third Quarter Ended 30 June 2023 | ||||||||||||||||
8 August 2023 | ||||||||||||||||
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 Officer | Hisanori Matsuda | (TEL) 03-6859-3328 | |||||||||||||
Scheduled filing date of the Annual | 14 August 2023 | Scheduled date of commencement ― | ||||||||||||||
Securities Report | of dividend payment | |||||||||||||||
Supplementary documents for quarterly results: Yes | ||||||||||||||||
Quarterly results briefing: Yes | ||||||||||||||||
(Amounts rounded down to the nearest million yen) | ||||||||||||||||
1. Consolidated Financial Results for the Third Quarter Ended 30 June 2023 | ||||||||||||||||
(1 October 2022 - 30 June 2023) | ||||||||||||||||
(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 | % | |||||||||
3Q FY2022 | 22,075 | 2.4 | 2,667 | 365.3 | 2,384 | 373.5 | 1,248 | ― | ||||||||
3Q FY2022 | 21,566 | 17.6 | 573 | △47.4 | 503 | △52.7 | 72 | △83.8 | ||||||||
Comprehensive | ||||||||||||||||
(Note) Income | 3Q FY2023 △3,419 M yen ( | ―%) | 3Q FY2022 | 11,174 M yen ( | 787.9%) | |||||||||||
Net income per share | Net income per share | |||||||||||||||
(basic) | (diluted) | |||||||||||||||
Yen | Yen | |||||||||||||||
3Q FY2022 | 100.76 | 95.85 | ||||||||||||||
3Q FY2022 | 5.82 | 5.53 | ||||||||||||||
(2) Consolidated Financial Position | ||||||||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | |||||||||||||
Million yen | Million yen | % | Yen | |||||||||||||
3Q FY2021 | 29,612 | 14,264 | 47.4 | 1,140.82 | ||||||||||||
FY2022 | 33,909 | 18,001 | 52.5 | 1,443.65 | ||||||||||||
(Reference) Shareholders' | 3Q FY2022 14,042 Million yen | FY2022 | 17,803 Million yen | |||||||||||||
equity | ||||||||||||||||
2. Dividends | ||||||||||||||||
Dividend per share | ||||||||||||||||
End of 1Q | End of 2Q | End of 3Q | Year-end | Total | ||||||||||||
Yen | Yen | Yen | Yen | Ye | ||||||||||||
n | ||||||||||||||||
FY2022 | ― | 0.00 | ― | 25.00 | 25.00 | |||||||||||
FY2023 | ― | 0.00 | ― | |||||||||||||
FY2023 (Forecast) | ― | ― | ― | |||||||||||||
Note 1: Changes in the most recently announced dividend forecast: None
Note 2: The dividend for FY2023 is TBD
3. Consolidated Forecasts for the Fiscal Year Ending 30 September 2023 (1 October 2022 - 30 September 2023)
(% show year-on-year changes)
Net sales | Operating income | Ordinary income | Net income | Net income per | |||||||
Share | |||||||||||
Million | % | Million | % | Million yen | % | Million | % | Yen | |||
yen | yen | yen | |||||||||
209.20 | |||||||||||
FY2023 | 33,120 | 11.0 | 4,500 | ― | 4,200 | ― | 2,580 | ― |
(Note) Changes from previously announced forecast: None
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Please see page 7 for details within (3) Explanation of Outlook for the Future
- Notes
(1) Changes of important subsidiaries during period | : | None | |||||
New companies: -(Company name: -) | Excluded companies: -(Company name: -) | ||||||
(2) | |||||||
(3) Changes in accounting policies and changes or restatement of accounting estimates | |||||||
① | Changes in accounting policies caused | by revision of | : | Yes | |||
accounting standards | |||||||
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 | FY2023 3Q | 13,335,995 | FY2022 | 13,335,995 | ||
period (including treasury shares) | Shares | Shares | |||||
② | Number of treasury shares at end of period | FY2023 3Q | 1,027,066 | FY2022 | 1,003,874 | ||
Shares | Shares | ||||||
③ | Average number of shares outstanding during | FY2023 3Q | 12,386,346 | FY2022 3Q | 12,521,667 | ||
the term | Shares | Shares | |||||
Note: Treasury shares include the BEENOS ESOP shares held through the E-Ship program (25,200 shares from FY2023 3Q and 58,8000 shares from FY2022). These shares are accounted for in any calculations used for including/excluding treasury shares.
- This financial summary does not need to go through the auditing process.
- 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 from the forecast depending on a range of factors.
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○ Table of Contents
1. Qualitative Information for this Fiscal Year's Results | 4 | ||
(1) | Business Performance Report | 4 | |
(2) | Financial Status Report | 6 | |
(3) | Explanation of Outlook for the Future | 7 | |
2. Quarterly Financial Statements and Major Notes | 8 | ||
(1) | Quarterly Consolidated Balance Sheet | 8 | |
(2) | Quarterly Consolidated Profit & Loss Statement and | ||
Quarterly Consolidated Statement of Comprehensive Income | 10 | ||
(3) | Notes on Consolidated Financial Statement | 12 | |
(Notes regarding the premise of on-going concerns) | 12 | ||
(Notes regarding significant changes in the amount of shareholder's equity) | 12 | ||
(Changes in Reporting Segments) | 12 | ||
(Segment Information) | 12 |
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1. Qualitative Information for this Fiscal Year's Results
(1) Business Performance Report
The BEENOS Group aims to be on the "Global Platform Frontier" and continue to create platforms that will connect Japan with the world to create new standards and possibilities for people, products and information.
As we aim to reach our 100 Billion JPY in consolidated GMV goal this year, the Global Commerce Business
will focus on the improvement and fortification of Buyee's services centered around delivery plans and payment options. The Value Cycle Business will focus on purchasing high ticket items and fortifying domestic sales. The Entertainment Business will focus on increasing circulation by increasing partnerships and users on its entertainment tailored EC platform, Groobee.
In FY2023 3Q, Global Commerce created a new scheme with one of its domestic partners as well as proactively launched campaigns to increase its GMV as external factors put it in a prime position for growth. Value Cycle increased rectified its customer services at its brick and mortar stores and launched promotions to increase its purchases and success rates. Entertainment aimed to increase GMV by selling artist merchandise for live events and increasing functions and services of Groobee. The Incubation Business recorded sales on its investment securities.
As a result, the annual consolidated net sales were 22,075 million JPY (up 2.4% year on year), operating income was 2,667 million JPY (up 365.3% year on year), ordinary income was 2,384 million JPY (up 373.5% year on year), and net income attributable to owners of parent was 1,248 million JPY (net income attributable to owners of parent in FY2022 3Q was 72 million JPY).
The consolidated GMV for FY2023 3Q was 70.5 billion JPY (up 22.3% year on year).
The book value for our operational investment securities at the end of June 2023 was 7.0 billion JPY (book value in March 2023 was 7.1 billion JPY). The market value at the end of June 2023 has risen to 24.5 billion JPY (market value as of March 2023 22.9 billion JPY). The main reason for the increase of the market value is due to the changes in exchange rates.1
The achievements of each business segment are as follows.
① E-Commerce Business
-
Global Commerce Business
The Overseas Forwarding and Proxy Purchasing Business (From Japan) saw an increase in momentum after
implementing a new shipping plan to decrease shipping fees on lightweight packages and the depreciation of the yen since May. This was also a good opportunity to grow larger in scale so promotional efforts were implemented and Buyee's GMV grew 22.8% year on year on a quarterly basis. Furthermore, the dashboard function for domestic EC sites to see the data and trends of foreign purchases has been updated to provide more detailed data. The "Buyee Connect" service which allows Japanese EC sites to ship overseas by adding a few tag lines on its site continues to increase its coverage with interior EC shop "Francfranc", operated by Francfranc Corporation, being one of the recent new partners in 3Q.
The Global Shopping Business (To Japan) has expanded its purchasing capabilities to include products listed on eBay from France and the Netherlands on its shopping site, "Sekaimon." The new countries join the US, UK, Germany, Canada and Austria to increase its services to 7 countries.
The Cross Border EC Service specializing in fashion, FASBEE, has spun out of the Incubation Segment into the Global Commerce Business as of this fiscal year.
As a result, net sales were 8,895 million JPY (up 21.1% year on year) and operating income was 2,816 million
1 Refer to footnote 2 in the Incubation Business for the calculation logic.
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JPY (up 19.3% year on year).
ii) Value Cycle Business
The Apparel Reuse Business saw a decrease in sales compared to the previous year due to decrease in sales stemming from difficulties in purchasing in the previous quarter. On the purchasing side, it achieved an increase in purchasing amounts and inventory values by carrying out advertisements and large-scale purchasing campaigns. The increase inventory will contribute to sales in 4Q. We opened the "Brandear Shinsaibashi" store in April 2023, bringing the total to 15 stores.
The total recorded assets on the liquor appraisal and asset management app, "MyCellar" for the Liquor Mediation Business reached 200 million yen. A commemorative campaign was launched to increase purchases which led to the increase in purchases of high-end wines, but overall purchases fell as the Japanese whiskey market was stagnant. However, the sales of expensive wines led to an increase in sales.
As a result, net sales were 10,472 Million JPY (down 5.8% year on year) and operating losses were 17 Million JPY (operating losses in FY2022 3Q was 6 Million JPY).
iii) Entertainment Business
The Entertainment Business saw an increase in distribution of merchandise for its main artist at its live event. Groobee, our entertainment industry-based platform, has spun out of the Incubation Segment to the Entertainment Business beginning this fiscal year. Groobee has commenced the support of the "ANIMAX Store" which is operated by the cable anime channel, "ANIMAX." It has also provided services at the merch stores of live events of existing artists along with its online gacha function to lead to increased sales.
The accounting process for one of this segment's main artists has changed to a commission-based system so the way net sales is booked has changed from the price of the entire item sold to just the commission received from the sales.
As a result, net sales were 913 Million JPY (down 66.9% year on year) and operating losses were 165 Million JPY (operating losses in FY2022 3Q was 176 Million JPY).
For the E-Commerce Business as a whole, net sales were 20,281 Million JPY (down 4.5% year on year) and operating income was 2,634 Million JPY (up 20.9% year on year).
②Incubation Business
The Investment and Consultation Business sold off some of its investment securities for roughly 0.73 billion JPY. The policy to sell shares to offset the cost and losses accrued by New Businesses and corporate costs remains as is and we plan to continue to sell more of our shares in companies in the Incubation Business.
New Businesses, which was listed under the Incubation Business until last year, has spun out into Other Businesses beginning this fiscal year.
As a result, net sales were 1,575 million JPY (net sales in FY2022 3Q were 248 million JPY) and operating income was 1,455 million JPY (operating losses in FY2022 3Q was 215 million JPY).
The book value for our operational investment securities at the end of June 2023 was 7.0 billion JPY (book value as of March 2023 was 7.1 billion JPY). The market value at the end of June 2023 was 24.5 billion JPY (market value as of March 2023 was 22.9 billion JPY). The main reason for the increase of the market value is due to the change in foreign exchange rates.2
2 The market value of investments is calculated quarterly. The market value for listed companies is calculated at its stock price. Unlisted companies are calculated based on our number of shares with the price of the most recent stock issuance (if a company has recorded allowance for loss on investments, it is priced at book value). This amount has been calculated internally and has not gone through the auditing process.
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Beenos Inc. published this content on 08 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 August 2023 06:06:28 UTC.
