Financial Results Presentation for FY2019 1Q 株式会社 IMAGICA GROUP Code ： 6879 July 31, 2019
Highlight of Financial Results Net sales increased 2.3 billion yen YoY , and net profit turned into black at 5.8 billion yen. Net profit （ Million Yen ） attributable to Net sales Operating income owners of the parent 586 - 681 21,747 YoY ＋ 1,123 YoY ＋ 194 YoY ＋ 2,385 21,747 586 19,362 We recorded 1,647 million yen as gain on sales of non-current assets at extraordinary -536 -681 income -876 FY2018 1Q FY2019 1Q FY2018 1Q FY2019 1Q FY2018 1Q FY2019 1Q 2
Content Creation Net sales increased 3.1 billion yen YoY , operating income also increased 3 million yen YoY FY2018 1Q FY2019 1Q （ Million Yen ） Actual Actual YoY YoY ratio 4,685 7,830 3,144 Net sales 67.1% -374 -31 342 Content Creation Operating income ー ー ー （ OP ratio ） YoY ＋ 3,144 million YoY ＋ 342 million Net sales Operating income Gross profit increased due to sales Recorded big-budget theater films and increase TV dramas Profitability got improved by cost Increased the number of TV animation control on TV animation production projects Decreased in goodwill amortization Solidly continued in making burden commercials and recording music lives 3
Production Services Despite profit improvement in the post-production business, profit decreased in human resource service FY2018 1Q FY2019 1Q （ Million yen ） Actual Actual YoY YoY ratio 6,228 5,965 Net sales - 263 - 4.2% Production Services - 11 - 101 Operating income - 90 ー ー ー （ OP ratio ） YoY - 90 million YoY - 263 million Operating income Net sales Post-production business for TV shows Services for digital cinema (DCP) was profit improved by workflow reform solid Carried out an investment in the human Sales declined due to sell-out of one resources service field (expansion of digital consolidated subsidiary in the human content business and such). resource services field SG & A expenses increased temporarily. 4
Media Localization Build strong organization for OTT orders expected from the 3rd quarter FY2018 1Q FY2019 1Q （ Million Yen ） Actual Actual YoY YoY ratio 5,840 5,122 Net sales - 717 - 12.3% Media Localization - 591 - 685 Operating income - 93 ー ー ー （ OP ratio ） YoY - 717 million YoY - 93 million Net sales Operating income Sales decreased due to sell-out of Gross profit decreased due to sales consolidated subsidiaries decrease Business in Europe was slow Implement fixed cost reduction measures after 2Q temporarily Expect orders for new OTT (Over-The- Build strong organization in E2E service Top platforms) from 3Q by joint promotion with SDI and Pixelogic 5
Imaging Systems & Solutions Net sales increased, but recording of large project in Imaging Systems has been delayed in the 2nd quarter FY2018 1Q FY2019 1Q （ Million Yen ） Actual Actual YoY YoY ratio 2,919 3,154 Net sales 235 8.1% Imaging Systems & 204 160 Operating income - 43 - 21.5% Solutions 7.0% 5.1% （ OP ratio ） YoY + 235 million YoY - 43 million Net sales Operating income Sales of new high-speed camera Big-budget project for TV- products was well in Japan and overseas broadcaster were recorded in 2Q The number of commercial on-line Sales of video and image processing LSI for China got shrunk due to US- delivery was steadily increasing Got a big-budget project in ICT business China trade friction 6
Financial Results by Segment FY2018 1Q FY2019 1Q （ Million Yen ） Actual Actual YoY YoY ratio 4,685 7,830 3,144 67.1% Net sales - 374 - 31 342 ー Content Creation Operating income ー ー （ OP ratio ） 6,228 5,965 - 263 -4.2% Net sales Production - 11 - 101 - 89 ー Operating income Services ー ー （ OP ratio ） 5,840 5,122 - 717 -12.3% Net sales - 591 - 685 - 93 ー Operating income Media Localization ー ー （ OP ratio ） Operating income after - 297 - 414 goodwill amortization 2,919 3,154 235 8.1% Net sales Imaging Systems 204 160 - 43 -21.5% Operating income & Solutions 7.0% 5.1% （ OP ratio ） - 312 - 325 - 13 ー Net sales Adjustments - 103 - 24 78 ー Operating income 19,362 21,747 2,385 12.3% Net sales Consolidated - 876 - 681 194 ー Operating income 7
Consolidated Results for 2Q /Jul - Sep Consolidated results for 2Q is expected to improve YoY significantly Segments Factors 1. Continue to control animation production costs Content Creation 2. Expect to record sales of big-budget theater films in 2Q 1. Continue to improve profitability for post-production business Production Services 2. Human resource consulting business is still effected by sell-out of a consolidated subsidiary 1. Reduce SG & A by fixed cost reduction will be implemented in 2Q Media Localization 2. Trailer production (Creative campaigns) business is favorable Imaging System & 1. Sales of new high-speed camera products is well Solutions 2. Expected to record sales of big-budget project for broadcasters in 2Q 8
Consolidated Statements of Income FY2018 1Q FY2019 1Q （単位：百万円） （ Million Yen ） Actual Actual YoY YoY ratio 21,747 19,362 2,385 12.3% Net sales 4,894 4,746 148 3.1% Gross profit 22.5% 24.5% (Ratio) - 681 - 876 194 ー Operating income ー ー (Ratio) - 841 - 839 - 1 ー Ordinary income ー ー (Ratiio) 1,655 1 1,654 140921.7% Extraordinary income 9 21 - 12 -57.7% Extraordinary losses 805 - 860 1,665 ー Net profit (loss) before taxes Net profit (loss) attributable to 586 - 536 1,123 ー owners of parent (Reference) - 401 - 491 89 ー Operating income before goodwill Operating income before goodwill includes operating income, goodwill amortization and intangible fixed assets amortization 9
Consolidated Balance Sheets As of March As of June （ Million Yen ） YoY Main Factor 31,2019 30, 2019 40,119 34,978 Current Assets - 5,140 Notes and accounts receivable- trade - 4,219 6,079 4,458 Cash and deposits - 1,620 24,606 26,296 Non-current Assets 1,690 Land -1,238 Stocks of subsidiaries and affiliates ＋ 3,000 Goodwill 3,769 3,644 - 125 （ Pixelogic ） 64,725 61,275 Total Assets - 3,449 26,712 24,755 Current liabilities - 1,956 Notes and accounts payable- trade -1,396 5,375 5,979 Short-term loans payable 604 Advance payment -1,442 10,115 8,870 Non-current liabilities - 1,245 6,169 5,324 Long-term loans payable - 845 36,828 33,626 Total Liabilities - 3,201 24,857 25,224 Shareholder’s equity 366 (Reference ） Shareholders equity Accumulated other 292 203 88 As of March 31,2019 25,150 (41.7%) comprehensive income 2,747 2,221 Non-controlling interests 525 As of June 30,2019 25,427 (41.5%) 27,897 27,649 247 Total Net Assets 64,725 61,275 Total liabilities and Net Assets - 3,449 - 5,465 - 6,845 Net Cash - 1,379 （ Cash and deposits － Long and short loans) 10
Consolidated Forecast for FY2019 No change in consolidated forecast disclosed on May 14 FY2017 FY2018 FY2019 （ Million Yen ） Forecast Actual Actual YoY YoY ratio （ May 14 ） （単位：億円） 95,000 91,351 90,212 Net sales 4,788 5.3% 1,680 2,424 926 Operating income 754 81.4% （ OP ratio ） (2.7%) (1.8%) (1.0%) 1,200 2,424 789 Ordinary income 411 52.0% Net income(loss) 1,800 2,937 -2,010 3,810 － attributable to owners of the parent Earnings (loss) per share 40.86 65.98 -45.55 86.41 － of common stock (Yen) 11
For more information, please contact/visit us at Planning Dept., IMAGICA GROUP INC. 11 th Floor, Uchisaiwaicho Tokyu Bldg., Uchisaiwaicho, Chiyoda-ku, Tokyo 100-0011 ＴＥＬ： +81-3-6741-5742 ＦＡＸ： +81-3-6741-5752 Email ： ir@imagicagroup.co.jp URL ： https://www.imagicagroup.co.jp/ Disclaimer: This document includes the Group’s business plan and future outlook in line with its forecasts. The future outlook is formulated from information currently available to the Group and the outlook is susceptible to future economical environment, competitive landscape, success or failure of new services and other uncertain factors. Thus, the Group asks you for your understanding that the actual performance may differ from the future outlook stated in this document. Additionally, our Group shall not bear any responsibility to update the outlook after the disclosure of this document.
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