ValueCommerce : Q4 TSE Filings Summary(196KB)pdf

This filing was originally prepared and published by the company in Japanese as it contained timely disclosure information to be submitted to the Tokyo Stock Exchange (1st section). The English translation is for your reference only. To the extent there is any discrepancy between this English translation and the original Japanese filing, the Japanese filing will prevail. The following financial information was prepared in accordance with generally accepted accounting principles in Japan (JGAAP).

Financial Results (Consolidated) for Fiscal Year of 2017

January 30, 2018

Corporate Name:	ValueCommerce Co., Ltd.	Listed: TSE 1st section
Ticker Symbol:	2491	URL:https://www.valuecommerce.com/en/
Representative:	Representative Director, President and CEO	(Name) Jin Kagawa
Contact person:	Director of the Board, CFO	(Name) Masatomo Endo
TEL: [phone]

Scheduled date of commencement of dividend payment:	March 7, 2018
Scheduled date of ordinary shareholders' meeting:	March 23, 2018
Scheduled date of filing the securities report:	March 26, 2018
Results supplementary materials to be created:	Yes
An explanatory presentation to investors:	Yes
(Amounts less than one million yen rounded down)

1. Consolidated Operating Results for the Fiscal Year Ended Dec. 31 2017 (Jan. 1 to Dec. 31, 2017)

(1) Consolidated Operating Results

(Percentage figures refer to comparisons with the previous fiscal year)

Net incomeRevenueFY2017 FY2016

Million Yen 16,889 17,505

% (3.5)

5.1

Operating income	Ordinary income	attributable to owners
of the parent
Million Yen	Million Yen	Million Yen

% 140.9 (39.2)

2,223 922

2,257 1,001

% 125.4 (39.5)

1,010 344

% 193.1 (66.6)

(Note) Comprehensive income:

Year ended December 31, 2017: 1,081 million yen, 159.7%Year ended December 31, 2016 :

416 million yen,(58.6)%

Basic EPS (Earnings per share)	Diluted EPS (Diluted Earnings per share)	ROE (Return on Equity)	ROA (Ratio of ordinary income to total assets)	Operating profit margin
FY2017 FY2016	Yen 31.40 10.39	Yen 31.35 －	% 15.5 5.6	% 20.8 10.0	% 13.2 5.3

(Reference) Equity in earnings/loss of an affiliate: Year ended December 31, 2017: 29 million yen

Year ended December 31, 2016: 58 million yen

(2) Consolidated Financial Positions

Total assets	Net worth	Equity ratio	Book-value per share
As of December 31, 2017 As of December 31, 2016	Million Yen 11,679 9,984	Million Yen 6,968 6,163	% 59.5 61.3	Yen 215.73 188.02

(Reference) Owners' equity:

As of December 31, 2017: 6,945 million yen As of December 31, 2016: 6,118 million yen

(3) Consolidated Cash Flows

Operating cash flows	Investing cash flows	Financing cash flows	Ending cash balance
FY2017 FY2016	Million Yen 2,205 1,003	Million Yen (535) (1,087)	Million Yen (267) (510)	Million Yen 5,002 3,600

2. Dividends

Dividend per share					Total dividend amount	Payout ratio (Consolidated)	Dividend on Equity(DOE) (Consolidated)
Q1	Q2	Q3	Q4	Total
FY2016 FY2017	Yen － －	Yen 2.00 3.00	Yen － －	Yen 2.00 7.00	Yen 4.00 10.00	Million Yen 131 321	% 38.5 31.8	% 2.1 5.0
FY2018 (Forecast)	－	7.00	－	9.00	16.00	30.8

3. Consolidated Operating Forecast for the Fiscal Year Ended Dec. 31, 2018 (Jan. 1 to Dec. 31, 2018)

(Percentage figures refer to comparisons with the previous fiscal year)

Revenue		Operating income		Ordinary income		Net income attributable to owners of the parent		Basic EPS (Earnings per share)
Q1-Q2(cumulative) FY2018 FY2018	Million Yen 8,700 18,800	% 9.0 11.3	Million Yen 1,050 2,450	% 16.7 10.2	Million Yen 1,050 2,450	% 15.5 8.5	Million Yen 710 1,670	% 57.0 65.3	Yen 22.05 51.87

※Notes

• (1) Significant changes in scope of consolidation during this year: No

• (2) Changes in accounting policies and accounting estimates, retrospective restatement

1.	Changes in accounting policies due to amendment of accounting standards, etc.	:	No
2.	Changes in accounting policies other than 1.	:	No
3.	Changes in accounting estimates	:	No
4.	Retrospective restatement	:	No

(3) Number of shares issued (Common stock)

• 1. Common stock (including treasury stock)

• 2. Treasury stock

• 3. Average number of shares issued

as of December 31, 2017	as of December 31, 2016
34,471,000 shares	34,471,000 shares
2,275,600 shares	1,930,700 shares
32,173,725 shares	33,166,504 shares

(Reference)

1. Non-Consolidated Operating Results for the Fiscal Year Ended Dec. 31 2017 (Jan. 1 to Dec. 31, 2017) (1) Non-Consolidated Operating Results

Revenue	Operating income	Ordinary income	Net income
Million Yen	%	Million Yen	Million Yen	Million Yen	%
FY2017	16,889	(2.2)	2,294	2,321	349	(47.6)
FY2016	17,266	3.7	667	(31.2)

% 92.9 (21.7)

(Percentage figures refer to comparisons with the previous fiscal year)

1,189

Basic EPS (Earnings per share)	Diluted EPS (Earnings per share diluted)
FY2017 FY2016	Yen 10.87 20.12	Yen 10.85 －

(2) Non-Consolidated Financial Position

1,226

% 89.3 (23.2)

Total assets	Net worth	Equity ratio	Book-value per share
As of December 31, 2017 As of December 31, 2016	Million Yen 10,846 9,776	Million Yen 6,130 5,986	% 56.3 60.8	Yen 189.71 182.59

(Reference) Owners' equity:

As of December 31, 2017: 6,107 million yen As of December 31, 2016: 5,941 million yen

2. Forecast of Non-Consolidated Operating Results for the Fiscal Year Ended Dec. 31, 2018 (Jan. 1 to Dec. 31, 2018) (Percentage figures refer to comparisons with the previous fiscal year)

Revenue		Operating income		Ordinary income		Net income		Basic EPS (Earnings per share)
Q1-Q2(cumulative) FY2018 FY2018	Million Yen 8,700 18,800	% 9.0 11.3	Million Yen 1,080 2,540	% 10.6 10.7	Million Yen 1.080 2,540	% 9.9 9.4	Million Yen 740 1,760	% 44.5 403.4	Yen 22.98 54.67

* Audit

This filing is not subject to the audit procedures under the Financial Instruments and Exchange Act.

* Note on proper use of the earnings outlook and other special notes

(Note on description about outlook in the future)

This filing contains an earnings outlook and other forward-looking statements. They are based on information currently available to the

Company and on certain assumptions we deem reasonable. They are not intended to constitute the Company's guarantee that the outlook and statements will be realized. The actual results may differ materially from those described in this filing due to various factors. For the assumptions for the earnings outlook and notes on use of the earnings forecast, please refer to "(1) Qualitative Information about Analysis of Operating Results" in "1. Qualitative Information Concerning Consolidated Business Results" on page 2 of the Accompanying Materials.

(Method to reach supplementary materials and contents of explanatory presentation)

The company schedules to hold an explanatory presentation to investors on January 31, 2018. The supplementary materials on financial results will be posted on the company's website soon after the presentation meeting.