Avex Inc. TSE:7860
Avex : Earnings Results for FY2023 Q1(Fiscal year ending March 31st, 2024)
Source: MarketScreener
Earnings Results for FY2023 Q1
(Fiscal year ending March 31st, 2024)
(April 1, 2023 to June 30, 2023)
Avex Inc.
August 10, 2023
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Consolidated Results
Financial Highlights
Topics
Da-iCE
"Da-iCE ARENA TOUR 2023 -SCENE-"
Consolidated Results
Overview
Net sales increased 12.3% YoY to 31.9 billion yen, driven by the growth of the Music Business. Operating profit decreased 17.8% YoY to 1.8 billion yen due to a drop in gross profit.
Profit attributable to owners of parent increased 61.4% YoY to 2.7 billion yen.
(million yen) | 1Q FY2022 | 1Q FY2023 | YoY | rate |
Net sales | 28,473 | 31,973 | +3,499 | +12.3% |
Operating profit | 2,288 | 1,881 | -406 | -17.8% |
Profit attributable to | 1,675 | 2,704 | +1,028 | +61.4% |
owners of parent | ||||
Overview of Business Results
- Net sales increased, mainly from Live Concerts in the Music Business
- The company-wide gross profit margin declined due to changes in the sales mix of each business segment with different profit ratios.
- Operating profit decreased due to the continuation of investment in IP aimed at achieving the medium-term management plan.
- Profit increased for reasons such as the sale of investment securities.
©2023 Avex Inc.
3
Consolidated Results
Overview
Recovered to the pre-COVID 19 levels, mainly in the Music Business.
Trends in Consolidated Net Sales
(billion yen) | |
29.0 | 31.9 |
28.4 | |
19.4
14.1
Other
Digital
Anime & Visual
Music
1Q FY2019 | 1Q FY2020 | 1Q FY2021 | 1Q FY2022 | 1Q FY2023 |
Note: The net sales breakdown in FY2020 and earlier are reference values that have been reclassified to conform to the current segment standards, without retroactively adjusting for the impact of changes in the accounting standard, etc.
©2023 Avex Inc.
4
Consolidated Results
Consolidated Income Statement
Operating profit dropped to 1.8 billion yen for reasons such as increases in personnel expenses and general expenses resulting from a recovery in sales activities.
(million yen) | 1Q FY2022 | 1Q FY2023 | YoY | rate |
Net sales | 28,473 | 31,973 | +3,499 | +12.3% |
Cost of sales | 17,947 | 20,881 | +2,934 | |
Gross profit | 10,526 | 11,092 | +565 | +5.4% |
Gross profit margin | 37.0% | 34.7% | -2.3pt | |
Personnel expenses | 3,241 | 3,606 | +365 | |
Sales promotion and | 1,745 | 1,625 | -119 | |
advertising expenses | ||||
General expenses | 3,251 | 3,978 | +726 | |
Total SG&A expenses | 8,237 | 9,210 | +972 | |
Operating profit | 2,288 | 1,881 | -406 | -17.8% |
Operating margin | 8.0% | 5.9% | -2.2pt | |
©2023 Avex Inc.
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