Benefit One Inc. TSE Prime Market, Security Code: 2412 https://corp.benefit-one.co.jp/
July 28, 2022
Operating Performance at Benefit One for the First Three Months of
the Fiscal Year Ending March 31, 2023 (Q1 FY03/23)
Summary of Consolidated Operating Results for Q1 FY03/23
Performance was strong due to M&A-related impact and recovery in our surrounding business environment, and ordinary income increased 2.3% YoY
We project that our surrounding business environment will recover over the medium to long term and accordingly made large-scale promotional investment while laying a groundwork for office consolidation
- Sales generated through the Employee Benefit Services business grew 39.5% YoY as we achieved both internal and external growth, with the latter stemming primarily from M&A; rebate-related expenditures increased YoY as service usage among members recovered, and we also booked upfront expenses associated with major promotional investments
- With regard to the Healthcare business, health checkups and guidance services generally progressed according to our projections; in the COVID-19 vaccination support business, acquisition of orders associated with the third round of COVID-19 shots was strong
- We relocated our head office effective from July 1, 2022 and recorded a corresponding one-time expense of approximately ¥150 million in Q1
- Operating performance was generally solid in Q1, and we have refrained from making changes to the previous operating performance forecast we announced on May 10, 2022
1.Consolidated operating performance (April 1, 2022-June30, 2022)
FY03/22 | FY03/23 | YoY change | Vs. forecast | |||||||
(Millions of yen) | Amount | % of | Amount | % of | Change | % | 1H | Q1 | ||
sales | sales | forecast | progress | |||||||
Sales | 8,483 | - | 10,583 | - | +2,100 | +24.8% | 20,950 | 50.5% | ||
Cost of sales | 3,882 | 45.8% | 4,759 | 45.0% | +876 | +22.6% | - | - | ||
Gross profit | 4,600 | 54.2% | 5,824 | 55.0% | +1,223 | +26.6% | - | - | ||
SG&A expenses | 1,754 | 20.7% | 2,924 | 27.6% | +1,170 | +66.7% | - | - | ||
Operating income | 2,846 | 33.6% | 2,899 | 27.4% | +53 | +1.9% | 4,000 | 72.5% | ||
Ordinary income | 2,877 | 33.9% | 2,943 | 27.8% | +66 | +2.3% | 3,990 | 73.8% | ||
Net income attributable | 2,051 | 24.2% | 1,999 | 18.9% | ▲52 | ▲2.6% | 2,640 | 75.7% | ||
to owners of parent | ||||||||||
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Benefit One Inc. TSE Prime Market, Security Code: 2412 https://corp.benefit-one.co.jp/
2.Performance of Major Businesses (April 1, 2022-June30, 2022)
(Millions of yen) | Sales | YoY | Operating | YoY | Reasons for change | ||||||||||
Change | % | income | Change | % | |||||||||||
Employee Benefit | 6,100 | +1,728 | +39.5% | Performance | boosted by | both internal | |||||||||
Services | |||||||||||||||
and external growth | |||||||||||||||
Individual Benefit | 449 | ▲49 | ▲9.8% | 2,315 | +30 | Increase in rebate-related expenditures | |||||||||
Services | +1.3% | driven by recovery in service utilization | |||||||||||||
Booked about ¥140 million in expenses | |||||||||||||||
CRM | 156 | +46 | +42.4% | associated | with | major | promotional | ||||||||
investments | |||||||||||||||
Incentive | 992 | +11 | +1.1% | 214 | ▲54 | ▲20.2% | Delayed granting/exchanging of | ||||||||
incentive points in the new fiscal year | |||||||||||||||
Health checkups and guidance services | |||||||||||||||
generally progressed according to | |||||||||||||||
Healthcare | 2,236 | +426 | +23.5% | 1,150 | +358 | +45.2% | projections | ||||||||
Strong support operations for the third | |||||||||||||||
round of COVID-19 vaccination shots | |||||||||||||||
Purchase and | 146 | ▲19 | ▲11.8% | 20 | +3 | +17.0% | Roughly in line with assumptions | ||||||||
Settlement Service | |||||||||||||||
underlying our projections | |||||||||||||||
Payment | 3 | ▲0 | ▲3.5% | ▲16 | +7 | - | Roughly in line with assumptions | ||||||||
underlying our projections | |||||||||||||||
Incurred upfront expenses associated | |||||||||||||||
Overseas | 352 | +3 | +1.0% | ▲84 | ▲43 | - | with personnel expansion, system | ||||||||
development, etc. | |||||||||||||||
Incurred a one-time expense | of about | ||||||||||||||
Other (company-wide | 149 | ▲46 | - | ▲700 | ▲248 | - | ¥150 million | in | connection | with the | |||||
shared expenses, etc.) | relocation of our head office | ||||||||||||||
Total | 10,583 | +2,100 | +24.8% | 2,899 | +53 | +1.9% | |||||||||
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Benefit One Inc. TSE Prime Market, Security Code: 2412 https://corp.benefit-one.co.jp/
3.Performance of Major Businesses, by Quarter
FY03/21 | FY03/22 | FY03/23 | ||||||||||||||||||||||||||||
(Millions of yen) | ||||||||||||||||||||||||||||||
1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | ||||||||||||||||||||||
Employee Benefit | 4,441 | 4,443 | 4,470 | 4,577 | 4,372 | 4,344 | 4,359 | 6,721 | 6,100 | |||||||||||||||||||||
Services | ||||||||||||||||||||||||||||||
Individual Benefit | 539 | 536 | 503 | 478 | 498 | 484 | 462 | 447 | 449 | |||||||||||||||||||||
Services | ||||||||||||||||||||||||||||||
CRM | 109 | 111 | 101 | 151 | 109 | 110 | 108 | 161 | 156 | |||||||||||||||||||||
Incentive | 995 | 1,120 | 794 | 1,048 | 981 | 921 | 683 | 888 | 992 | |||||||||||||||||||||
Healthcare | 1,616 | 2,123 | 3,141 | 3,486 | 1,811 | 3,733 | 1,897 | 2,169 | 2,236 | |||||||||||||||||||||
Purchase and | 160 | 162 | 182 | 191 | 165 | 161 | 150 | 164 | 146 | |||||||||||||||||||||
Settlement Service | ||||||||||||||||||||||||||||||
Payment | - | - | - | - | 3 | 2 | 3 | 10 | 3 | |||||||||||||||||||||
Overseas | 230 | 331 | 422 | 441 | 348 | 293 | 438 | 394 | 352 | |||||||||||||||||||||
Other | 158 | 115 | 271 | 395 | 196 | 217 | 219 | 339 | 149 | |||||||||||||||||||||
Sales | 8,248 | 8,941 | 9,884 | 10,767 | 8,483 | 10,265 | 8,319 | 11,293 | 10,583 | |||||||||||||||||||||
Gross profit | 3,832 | 3,951 | 4,076 | 4,564 | 4,600 | 5,790 | 4,421 | 5,916 | 5,824 | |||||||||||||||||||||
Gross profit margin (%) | 46.5% | 44.2% | 41.2% | 42.4% | 54.2% | 56.4% | 53.1% | 52.4% | 55.0% | |||||||||||||||||||||
SG&A expenses | 1,666 | 1,662 | 1,614 | 1,707 | 1,754 | 1,746 | 1,773 | 2,684 | 2,924 | |||||||||||||||||||||
Employee Benefit Services + | ||||||||||||||||||||||||||||||
Individual Benefit Services + | 1,999 | 2,074 | 2,098 | 2,218 | 2,285 | 2,451 | 2,153 | 2,595 | 2,315 | |||||||||||||||||||||
CRM | ||||||||||||||||||||||||||||||
Incentive | 233 | 291 | 161 | 290 | 269 | 216 | 127 | 169 | 214 | |||||||||||||||||||||
Healthcare | 29 | 50 | 264 | 413 | 792 | 1,882 | 896 | 987 | 1,150 | |||||||||||||||||||||
Purchase and | 16 | 4 | 22 | 31 | 17 | 15 | 28 | 36 | 20 | |||||||||||||||||||||
Settlement Service | ||||||||||||||||||||||||||||||
Payment | - | - | - | - | ▲23 | ▲17 | ▲14 | ▲8 | ▲16 | |||||||||||||||||||||
Overseas | ▲37 | ▲25 | ▲20 | ▲22 | ▲41 | ▲33 | ▲31 | ▲65 | ▲84 | |||||||||||||||||||||
Other (company-wide | ▲75 | ▲105 | ▲63 | ▲72 | ▲453 | ▲470 | ▲512 | ▲483 | ▲700 | |||||||||||||||||||||
shared expenses, etc.) | ||||||||||||||||||||||||||||||
Operating income | 2,165 | 2,289 | 2,462 | 2,858 | 2,846 | 4,044 | 2,647 | 3,231 | 2,899 | |||||||||||||||||||||
Operating income margin (%) | 26.3% | 25.6% | 24.9% | 26.5% | 33.6% | 39.4% | 31.8% | 28.6% | 27.4% | |||||||||||||||||||||
Ordinary income | 2,179 | 2,307 | 2,474 | 2,898 | 2,877 | 4,010 | 2,664 | 3,274 | 2,943 | |||||||||||||||||||||
Ordinary income margin (%) | 26.4% | 25.8% | 25.0% | 26.9% | 33.9% | 39.1% | 32.0% | 29.0% | 27.8% | |||||||||||||||||||||
Net income attributable to | 1,489 | 1,582 | 1,701 | 1,994 | 2,051 | 2,774 | 1,837 | 2,286 | 1,999 | |||||||||||||||||||||
owners of parent | ||||||||||||||||||||||||||||||
Net income margin (%) | 18.1% | 17.7% | 17.2% | 18.5% | 24.2% | 27.0% | 22.1% | 20.2% | 18.9% | |||||||||||||||||||||
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Benefit One Inc. TSE Prime Market, Security Code: 2412 https://corp.benefit-one.co.jp/
4.Quarterly member count by business
FY03/21 | FY03/22 | FY03/23 | ||||||||||||||||||||
Ten thousand members | ||||||||||||||||||||||
Jun. | Sep. | Dec. | Mar. | Jun. | Sep. | Dec. | Mar. | Jun. | ||||||||||||||
Employee Benefit | 590 | 624 | 624 | 621 | 634 | 635 | 893 | 893 | 908 | |||||||||||||
Services | ||||||||||||||||||||||
Individual Benefit | 125 | 120 | 115 | 111 | 106 | 101 | 105 | 96 | 84 | |||||||||||||
Services | ||||||||||||||||||||||
CRM | 124 | 124 | 125 | 130 | 127 | 127 | 139 | 141 | 137 | |||||||||||||
Total members | 839 | 868 | 864 | 862 | 867 | 863 | 1,137 | 1,130 | 1,129 | |||||||||||||
5.Various service numbers in the Healthcare business
FY03/21 | FY03/22 | FY03/23 | |||||||
(10,000 cases) | |||||||||
1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | |
Health checkup: number of | 1 | 28 | 16 | 13 | 16 | 25 | 14 | 9 | 17 |
consultations *Note 1 | |||||||||
Specific health guidance: number of initial | |||||||||
1 | 2 | 3 | 4 | 3 | 3 | 3 | 4 | 2 | |
consultations *Note 2 | |||||||||
COVID-19 vaccinations *Note 3 | - | - | - | - | 34 | 72 | 25 | 26 | 19 |
Note 1: "Health checkup: number of checkups" refers to the number of health checkups for which Benefit One made appointments on behalf of service members.
Note 2: "Specific health guidance: number of initial consultations" refers to the number of initial consultations members eligible for this service had with specialist staff.
Note 3: "COVID-19 vaccinations" refers to the number of COVID-19 vaccinations that were arranged by the Company and administered by municipal governments or at workplaces.
6. Qualitative information regarding consolidated operating performance forecast
(April 1, 2022-March 31, 2023)
Progress achieved during Q1 FY03/23 varied by business, but overall performance was generally strong. Depending on socioeconomic trends stemming from subsequent waves of COVID-19, the Company could, moving forward, observe fluid fluctuation in impact from factors such as recovery in service utilization among members in the Employee Benefit Services business and in the Healthcare business, circumstances surrounding administration of the fourth and following rounds of COVID-19 vaccines. However, forecasting the impact of fluctuations in these factors is prohibitively difficult at this point in time, so we have maintained our operating performance projections for 1H and full-year FY03/23 as previously announced on May 10, 2022.
These materials are intended to provide information pertaining to financial results. They are not intended to solicit investments in securities issued by the Company. These materials were prepared on the basis of data as of June 30, 2022. Accordingly, opinions or forecasts contained in these materials are based on the judgment of the Company as of the date the materials were prepared. The Company makes no guarantees or pledges as to the accuracy or completeness of this information. Furthermore, this information may be changed without notice.
IR contact: Corporate Planning Division | TEL:03-6830-5141/MAIL:ir_inquiry@benefit-one.co.jp |
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Benefit One Inc. published this content on 29 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2022 01:33:06 UTC.