Disclaimer: This document is a translation of the original version in Japanese. In the case that there is any discrepancy between the original version and this document, the original Japanese version is assumed to be correct.
Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2022 [Japan GAAP]
August 6, 2021 | ||||
Company name | geechs inc. | Listing Market | TSE 1st Section | |
Code Number | 7060 | URL | https://geechs.com | |
Representative | President & CEO | Naruhito Sonehara | ||
Contact | Director CFO | Daisuke Sakuma | (TEL) +8150-1741-6928 |
Scheduled date | of | filing of quarterly report | : August 6, 2021 | |
Scheduled date | of | commencement of dividend payment | : - | |
Preparation of | supplementary materials | for quarterly financial results | : | Yes |
Holding of quarterly financial results | meeting | : | None |
(Figures are rounded down to the nearest million yen)
1. Consolidated Financial Results for the First Quarter (April 1, 2021 to June 30, 2021) of FY3/22
(1) Consolidated Results of Operation | (Percentages indicate year-on-year changes) | |||||||||||||||
Net income | ||||||||||||||||
Net Sales | Operating income | Ordinary income | attributable to | |||||||||||||
owners of parent | ||||||||||||||||
Millions | ％ | Millions of | ％ | Millions of | ％ | Millions of | ％ | |||||||||
of yen | yen | yen | yen | |||||||||||||
1st Quarter of Fiscal Year | 1,077 | 54.1 | 51 | △58.5 | 54 | △49.2 | 28 | △52.3 | ||||||||
Ending March 31, 2022 | ||||||||||||||||
1st Quarter of Fiscal Year | 699 | △42.4 | 124 | △54.5 | 108 | △61.0 | 60 | △66.3 | ||||||||
Ended March 31, 2021 | ||||||||||||||||
(Note)Comprehensive income | ||||||||||||||||
1st Quarter of Fiscal Year Ending March 31, 2022 | 25 Millions of yen | △57.6％) | ||||||||||||||
1st Quarter of Fiscal Year Ended March 31, 2021 | 60 Millions of yen | △65.2％) | ||||||||||||||
Per share | Diluted | |||||||||||||||
Per share | ||||||||||||||||
Net income | ||||||||||||||||
Net income | ||||||||||||||||
Yen | Yen | |||||||||||||||
1st Quarter of Fiscal Year | 2.75 | 2.70 | ||||||||||||||
Ending March 31, 2022 | ||||||||||||||||
1st Quarter of Fiscal Year | 5.78 | 5.67 | ||||||||||||||
Ended March 31, 2021 | ||||||||||||||||
(2) Consolidated Financial Position | ||||||||||||||||
Total assets | Net assets | Equity Ratio | ||||||||||||||
Millions of yen | Millions of yen | ％ | ||||||||||||||
1st Quarter of Fiscal Year | 5,109 | 3,755 | 73.5 | |||||||||||||
Ending March 31, 2022 | ||||||||||||||||
Fiscal Year Ended | 6,486 | 3,830 | 59.1 | |||||||||||||
March 31, 2021 | ||||||||||||||||
(Reference) Shareholders' equity | ||||||||||||||||
1st Quarter of Fiscal Year Ending March 31, 2022 | 3,755 Millions of yen | |||||||||||||||
1st Quarter of Fiscal Year Ended March 31, 2021 | 3,830 Millions of yen |
2. Dividends
Dividend per share | ||||||||
1st | 2nd Quarter- | 3rd Quarter- | Year-End | Total | ||||
Quarter-End | End | End | ||||||
Yen | Yen | Yen | Yen | Yen | ||||
Fiscal Year Ended | － | 0.00 | － | 10.00 | 10.00 | |||
March 31, 2021 | ||||||||
Fiscal Year Ending | － | |||||||
March 31, 2022 | ||||||||
Fiscal Year Ending | 0.00 | － | 10.00 | 10.00 | ||||
March31, 2022 (Forecast) | ||||||||
(Note) | Revisions to the most recently announced dividend forecast | ： None |
3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2022 (April 1, 2021 to March 31, 2022)
(Percentages indicate year-on-year changes)
Net income | |||||||||||
Net Sales | Operating | Ordinary income | attributable to | Per share | |||||||
income | owners of | Net income | |||||||||
parent | |||||||||||
Millions | Millions | Millions | Millions | ||||||||
of yen | ％ | of yen | ％ | of yen | ％ | of yen | ％ | Yen | |||
Full year | 5,000 | 45.9 | 1,000 | 35.4 | 1,000 | 40.1 | 600 | 31.1 | 57.22 | ||
(Note) Revisions to the most recently announced financial results forecast ：None
* Notes
(1) | Changes in Significant Subsidiaries during the Period | ： None | |||
(Changes in Specified Subsidiaries Resulting in Changes in the Scope of Consolidation) | |||||
Newly | － | 、 Excluded － | |||
added | |||||
(2) | Adoption of Special | Accounting Methods for Preparing | Quarterly Consolidated | ： None | |
Financial Statements | |||||
- Changes in Accounting Policies, Changes in Accounting Estimates, and Restatement of Corrections ① Changes in accounting policies due to revisions to accounting standards, etc. ： Yes
② | Changes in accounting policies due to other reasons | ： None |
③ | Changes in accounting estimates | ： None |
④ | Restatement of prior period financial statements after error corrections | ： None |
(4) Number of shares outstanding (common stock)
① Number of shares outstanding at the end of the period (including treasury stock)
② Number of treasury stock at the end of the period
③ Average number of shares during the period (cumulative from the beginning of the fiscal year)
1st Quarter of | Fiscal Year Ended | |||
Fiscal Year Ending | 10,526,600 | shares | 10,513,440 shares | |
March 31, 2021 | ||||
March 31, 2022 | ||||
1st Quarter of | Fiscal Year Ended | |||
Fiscal Year Ending | 40,149 | shares | 40,104 shares | |
March 31, 2021 | ||||
March 31, 2022 | ||||
1st Quarter of | 1st Quarter of | |||
Fiscal Year Ending | 10,479,578 | shares | Fiscal Year Ended | 10,432,939 shares |
March 31, 2022 | March 31, 2021 | |||
※ This quarterly financial report is exempt from quarterly review by certified public accountants or auditing firms.
※ Cautionary statement with respect to financial forecasts
The financial forecasts as presented in this report are based on information currently available to us and on certain assumptions that we believe reasonable. Actual results may differ materially from the forecasts due to a variety of factors.
- Contents of the attached materials
1. Qualitative Information on Quarterly Financial Results ...................................... | 2 | |
(1) | Explanation of Results of Operation......................................................... | 2 |
(2) | Explanation of Financial Position........................................................... | 4 |
(3) | Explanation of Consolidated Financial Results Forecast and Other Forward-Looking | |
Statements........................................................................................ | 4 | |
2. Quarterly Consolidated Financial Statements and Major Notes ................................. | 5 | |
(1) | Quarterly Consolidated Balance Sheets ...................................................... | 5 |
(2) | Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of | |
Comprehensive Income ............................................................................. | 7 | |
(3) | Notes to Quarterly Consolidated Financial Statements: ....................................... | 9 |
(Note on Going Concern Assumption) .......................................................... | 9 | |
(Notes on Significant Changes in Shareholders' Equity) ...................................... | 9 | |
(Changes in Accounting Policies) ............................................................ | 9 | |
(Segment Information, etc.) ................................................................ | 10 |
1
1. Qualitative Information on Quarterly Financial Results
(1) Explanation of Results of Operation
The forward-looking statements in this report are based on our judgment as of the end of the current quarter.
-
Status of business performance
Under the Group's Grand Vision of "Make the biggest impression in the 21st century," we will leverage
our IT Freelancers database and our human resources infrastructure, including the development of IT engineers who are active globally, to proactively grasp the lifestyles of people and corporate behavior that are rapidly changing due to the spread of the Internet, and leverage our ability to respond to change to constantly grow through the creation and evolution of services, with the aim of continually increasing corporate value. The Group consists of four business segments, including three subsidiaries. The four business segments are: "IT Freelance Matching Business," "Game Business," "x-Tech Business," and "Seed Tech Business."
From the first quarter of the current fiscal year, the name of the segment has been changed from "IT Human Resource Development Business" to "Seed Tech Business". The change in the segment name has no impact on segment information.
During the three months ended June 30, 2021 (April 1, 2021 to June 30, 2021), the impact of the global expansion of new coronavirus infections has been prolonged. The Japanese economy has also continued to face an extremely severe situation, as economic activities have been restrained by priority measures such as preventing the spread of such incidents and by issuing numerous orders to declare a state of emergency. Vaccination is progressing in various countries, and while there are signs that the situation is coming to an end, the future outlook remains uncertain.
Under these circumstances, the Group continued to implement various measures based on the policies set forth in the "G100" Medium-Term Management Plan (from the fiscal year ending March 2022 to the fiscal year ending March 2025) released on May 14, 2021. We have built a business structure that will enable us to serve as a technology resource sharing platform by capturing the demand of companies promoting digital shifts and individuals searching for new ways of working.
Under these circumstances, the Group recorded net sales of ¥1,077 million (up 54.1% year on year), operating income of ¥51 million (down 58.5%), ordinary income of ¥54 million (down 49.2%), and net income attributable to owners of parent of ¥28 million (down 52.3%).
Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, March 31, 2020) As a result of the adoption of the "Revenue Recognition Accounting Standard" and other standards, net sales increased by ¥289 million, which had no impact on operating income, ordinary income and net income attributable to owners of parent.
Results by business segment were as follows.
In the IT Freelance Matching Business, the business environment was favorable. Due to the prolonged Corona Crisis, more than 80% of IT Freelancers have adopted remote work as a result of the establishment of a system for accepting remote work at each company, and there have been major changes in existing work styles. To respond to these changes in the business environment, the Group expanded its support system, conducted detailed communication with companies and IT Freelancers, expanded the "Furinove" benefit program for IT Freelancers, and conducted various online seminars.
As a result, net sales in this business segment for the three months ended June 30, 2021 were ¥416 million (up 16.3% year on year) and segment income was ¥226 million (up 10.6%).
2
This is an excerpt of the original content. To continue reading it, access the original document here.