[Translation]
March 17, 2021
Company name: | MEDLEY, INC. |
Representative: | Kohei Takiguchi |
President and Chief Executive Officer | |
(TSE Mothers Code No.4480) | |
Contact: | Yuta Tamaru |
Director and Head of Corporate Division | |
TEL: +813-6372-1265 |
Notice Regarding Revision to Consolidated Financial Results Forecast for the Fiscal Year Ending December 2021
MEDLEY, INC. (the Company) hereby announces that it has revised its consolidated forecast for the full year ending December 31, 2021 (from January 1, 2021 to December 31, 2021) announced on February 12, 2021.
1. Revised Consolidated Financial Results Forecast for the Fiscal Year Ending December 31, 2021 (January 1, 2021 to December 31, 2021)
Net Sales | EBITDA *1 | Operating profit | Ordinary profit | Profit attributable to owners of parent | Basic earnings per share *2 | |
Previous forecast (A) | Million yen 10,000 ~ 10,500 | Million yen 460 ~ 1,000 | Million yen 50 ~ 590 | Million yen 10 ~ 550 | Million yen 10 ~ 470 | Yen 0.32 ~ 15.22 |
Current revised forecast (B) | 10,770 ~ 11,270 | 670 ~ 1,170 | 160 ~ 660 | 180 ~ 680 | 20 ~ 480 | 0.65 ~ 15.54 |
Changes (B-A) | 770 ~ 770 | 210 ~ 170 | 110 ~ 70 | 170 ~ 130 | 10 ~ 10 | 0.33 ~ 0.32 |
Rate of increase (%) | 7.7 ~ 7.3 | 45.7 ~ 17.0 | 220.0 ~ 11.9 | 1700.0 ~ 23.6 | 100.0 ~ 2.1 | 103.1 ~ 2.1 |
(Ref.) Actual results of FY2020 | 6,830 | 542 | 396 | 422 | 455 | 15.69 |
(Note) 1. Starting in the fiscal year ending December 31, 2021 (consolidated FY2021), the definition of EBITDA (operating profit / loss + depreciation and amortization of goodwill) has been changed to include share-based remuneration expenses, however, no changes to EBITDA during the period up to and including the fiscal year ended December 31, 2020 (consolidated FY2020) have been made as a result of this new definition. Because the Company posted no amortization of goodwill during consolidated FY2020, it is not included in the calculation of EBITDA for that fiscal year.
2. The forecast of basic earnings per share is calculated by dividing the forecasted profit attributable to owners of parent by the number of common shares outstanding (excluding treasury stock) at the end of FY2020.
2. Reasons for Revision
Based on the impact from the conversion as of February 26, 2021 of MEDiPASS Co., Ltd. (hereinafter, MEDiPASS) into a consolidated subsidiary as stated in our "Notice Regarding Acquisition of MEDiPASS Co., Ltd." released on February 12, 2021 as well as the strong results achieved by the Recruitment Platform Business and the Medical Platform Business while operating under the second state of emergency declared by the government of Japan starting in January 2021, and also in view of the Company's outlook regarding the future impact of these factors, the Company has revised its full-year consolidated financial results forecast as indicated above.
Regarding net sales, mainly owing to the inclusion of sales of MEDiPASS in the scope of consolidated accounting during the nine-month period from April 1, 2021 to December 31, 2021, we raised both the lower and upper bounds of our forecast for net sales by 770 million yen, resulting in a revised forecast range of between 10,770 million yen and 11,270 million yen. Regarding profit, we now forecast profit higher than our previous forecast mainly owing to growth in profit resulting from growth in sales in the Recruitment Platform Business and telemedicine services in the Medical Platform Business.
*The above forecast is based on judgements and assumptions made according to information available to the Company's group at the time of the publication of this notice and is subject to risks and uncertain factors. Actual results may differ from this forecast due to various factors.