ZENRIN CO., LTD. Securities Code: 9474
Briefing on Results
for the First Quarter of Fiscal 2024
(Year Ending March 31, 2024)
July 31, 2023
*Note:
This document contains forward-looking statements based on assumptions, forecasts and plans in light of information available to ZENRIN Co., Ltd. as of the preparation date of this document. Actual performance may vary significantly from the forecast figures due to various risks and uncertainties owing to global economic trends, market demand, status of competition, exchange fluctuations and other factors.
The information that appears in this document rounds down fractions to the nearest specified unit and rounds off decimals in the percentage of change to the first decimal place. In addition, cases where the percentage of change exceeds 1000% and cases where one or both of the items of comparison are negative are shown as "-."
*Disclaimer:
This document has been translated from the Japanese original for reference purposes only.
In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
Result for
the First Quarter Table of Contents of FY2024
Ⅰ ．Overview of Results for the First Quarter of Fiscal 2024
- Overview of Results
- Changes in Net Sales, Income and Profit
3-1. Causes for Change in Operating Income [Sales]
3-2. Causes for Change in Operating Income [Cost]
- Changes in Net Sales by business
- Amount of Capital Investment, Depreciation and R&D Cost
© ZENRIN CO., LTD. All Rights Reserved. | 1 |
Result for
the First Quarter
of FY2024
Ⅰ ．Overview of Results for the First Quarter of Fiscal 2024
1. Overview of Results
Key Points of Results for the First Quarter of Fiscal 2024 | |
【 Increase in sales / Decrease in income and profit | 】 (Compared to 1Q of FY2024) |
Sales
Result
- Sales of data for in-car navigation systems in the automotive-related business increased thanks to the recovery in automobile production in conjunction with the alleviation of the semiconductor shortage.
- Orders received from the national and local governments increased and there were more opportunities to provide residential map data, while orders received in the marketing solutions-related business also increased.
Expenses
・
Profit and loss
- Increase in cost of sales due to the increase in revenue, as well as an increase in expenses for developing map databases to improve the precision of location data, the effects of the rising cost of living and wage hikes from the first quarter of fiscal 2024 resulted in an increase in operating expenses compared to the same period of the previous fiscal year. As a result, profits decreased for 2 consecutive periods.
- These increases in operating expenses have already been incorporated in the forecast for the consolidated results of operations for fiscal 2024.
- It should be noted that while fixed costs such as the expenses for developing map databases are incurred throughout the year, expenses generally precede net sales due to drastic seasonal fluctuations in which net sales tend to be concentrated in the fourth quarter.
(Amounts in million yen)
1Q of FY2023 | 1Q of FY2024 | Compared to | ||
1Q of FY2023 | ||||
% of Change | ||||
Net Sales | 12,254 | 12,793 | +539 | +4.4 |
Operating Expenses | 13,177 | 14,137 | +959 | +7.3 |
Operating Income | -923 | -1,344 | -420 | - |
Operating Margin | -7.5% | -10.5% | -3.0pt | - |
Ordinary Income | -806 | -1,378 | -571 | - |
Profit Attributable to | -536 | -989 | -453 | - |
Owners of Parent | ||||
© ZENRIN CO., LTD. All Rights Reserved. | 2 |
Result for
the First Quarter
of FY2024
Ⅰ ．Overview of Results for the First Quarter of Fiscal 2024
2. Changes in Net Sales, Income and Profit
20,000
15,000
10,000
5,000
0
Compared to 1Q of FY2023
(% of Changes)
(Amounts in million yen)
12,588 | 11,312 | 12,243 | 12,254 | 12,793 | |||||||||||||||||||||||||||||||||||||||
0 | |||||||||||||||||||||||||||||||||||||||||||
-346 | -298 | ||||||||||||||||||||||||||||||||||||||||||
-500 | -413 | -390 | -640 | -621 | -536 | ||||||||||||||||||||||||||||||||||||||
-634 | -806 | ||||||||||||||||||||||||||||||||||||||||||
-1,500 | 1,130- | 923- | 1,016- | 989- | |||||||||||||||||||||||||||||||||||||||
1,344- | 1,378- | ||||||||||||||||||||||||||||||||||||||||||
-2,500 | |||||||||||||||||||||||||||||||||||||||||||
19/6 | 20/6 | 21/6 | 22/6 | 23/6 | 19/6 | 20/6 | 21/6 | 22/6 | 23/6 | ||||||||||||||||||||||||||||||||||
19/6 | 20/6 | 21/6 | 22/6 | 23/6 | 19/6 | 20/6 | 21/6 | 22/6 | 23/6 | ||||||||||||||||||||||||||||||||||
Net Sales | Operating Income | Ordinary Income | Profit Attributable to | ||||||||||||||||||||||||||||||||||||||||
Owners of Parent | |||||||||||||||||||||||||||||||||||||||||||
+ 539 million yen | - 420 million yen | - 571 million yen | - 453 million yen | ||||||||||||||||||||||||||||||||||||||||
(+4.4%) | ( - ) | ( - ) | ( - ) | ||||||||||||||||||||||||||||||||||||||||
Increase in sales | Decrease in income and profit for 2 consecutive periods |
for 3 consecutive periods | |
*the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020), etc. have been applied from the beginning of the first quarter of fiscal 2022.
*Regarding figures for the previous fiscal year (fiscal 2021) and earlier, the increase (decrease) and rates (%) are reference values because the Accounting Standard for Revenue Recognition, etc. are not applied retrospectively (same as the next page and after).
© ZENRIN CO., LTD. All Rights Reserved. | 3 |
Result for | Ⅰ ．Overview of Results for the First Quarter of Fiscal 2024 |
the First Quarter | 3-1. Causes for Change in Operating Income [Sales] |
of FY2024 | |
Operating Income (compared to 1Q of FY2023) | (Amounts in billion yen) |
0
- 0.5 |
- 1.0 |
-0.4 billion yen
◼Recovery in sales of data for in-car navigation systems in conjunction with the recovery in automobile production
◼Increase in solution services sales
◼Decrease due to the termination of some services of a subsidiary | + 0.3 | |||
◼Recovery in the sending of DMs due to the recovery in sales promotion demand | ||||
◼Expansion of sales promotion support and consulting services | ||||
+ 0.1 | ||||
- 0.9 | + 0.2 | - 0.1 | ||
- 1.5 |
- 0.0 | ◼Increase in cost of sales due to the increase in revenue |
◼Increase in expenses for developing map databases to | |
◼Printed residential maps decreased | improve the precision of location data |
◼GIS Package products increased | ◼Increase in personnel expenses due to wage hikes |
◼Orders received from the national and local governments increased and there were more opportunities to provide residential map data
- 1.3
+ 0.9
IoT | Changes in | ||||||
22/3 実績 | プロダクト | Changes in Sales by Business (compared to 1Q of FY2023) | ｵｰﾄﾓｰﾃｨﾌﾞ | 23/3 実績 | |||
公共ｿﾘｭｰｼｮﾝ | ﾏｰｹﾃｨﾝｸﾞ | 営業費用 | |||||
Operating | Public | ｿﾘｭｰｼｮﾝ | Operating Expenses | Operating | |||
Income | Product | Marketing | IoT | Automotive | (compared to | Income | |
1Q of | Solution | Solution | 1Q of FY2023) | 1Q of | |||
FY2023 | + 0.5 | + 0.9 | FY2024 | ||||
billion yen | billion yen | ||||||
© ZENRIN CO., LTD. All Rights Reserved. | 4 |
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Zenrin Co. Ltd. published this content on 07 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 August 2023 08:14:09 UTC.
