Benefit One Inc. TSE 1, Security Code: 2412 https://corp.benefit-one.co.jp/
May 12, 2021
Overview of Operating Performance at Benefit One for the Fiscal Year Ended March 31, 2021 (FY03/21)
Summary of Consolidated Operating Results for FY03/21
Despite short-term impacts of the COVID-19 crisis, achieved higher profits for the 10th consecutive year. Consolidated ordinary income increased16.5% to a record-high
- Employee Benefit Services saw a steady increase in member counts primarily for major corporations and public institutions. The use of member services, especially those involving outings, was down year over year, and accordingly, rebate expenses fell.
- In Healthcare, provision of health checkups and guidance services was delayed due to the pandemic, pushing back the booking of some sales and profits to the next fiscal year
- Consolidated sales up 1.5%, operating income up 16.4%
Summary of operating performance forecast for the fiscal year ending March 31, 2022
Aim for consolidated ordinary income of ¥11,830 million, marking the 11th consecutive year of profit growth, driven by the Healthcare business benefiting from the shift to outsourced healthcare services
- Plans to pay a dividend per share of ¥36 (up ¥6 year over year)
1.Consolidated operating performance (April 1, 2020 to March 31, 2021)
FY03/20 | FY03/21 | YoY change | Vs. forecast | |||||||||||
(Millions of yen) | Amount | % of | Amount | % of | Change | % | Vs. | % | ||||||
sales | sales | forecast | ||||||||||||
Sales | 37,271 | - | 37,841 | - | +569 | +1.5% | ▲2,308 | ▲5.7% | ||||||
Cost of sales | 22,469 | 60.3% | 21,418 | 56.6% | ▲1,051 | ▲4.7% | - | - | ||||||
Gross profit | 14,802 | 39.7% | 16,422 | 43.4% | +1,620 | +10.9% | - | - | ||||||
SG&A expenses | 6,407 | 17.2% | 6,648 | 17.6% | +241 | +3.8% | - | - | ||||||
Operating income | 8,394 | 22.5% | 9,774 | 25.8% | +1,379 | +16.4% | +724 | +8.0% | ||||||
Ordinary income | 8,462 | 22.7% | 9,858 | 26.1% | +1,396 | +16.5% | +758 | +8.3% | ||||||
Net income attributable | 5,641 | 15.1% | 6,766 | 17.9% | +1,125 | +19.9% | +566 | +9.1% | ||||||
to owners of parent | ||||||||||||||
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Benefit One Inc. | TSE 1, Security Code: 2412 | ||||||||||||||
https://corp.benefit-one.co.jp/ | |||||||||||||||
2.Performance of Major Businesses (April 1, 2020 to March 31, 2021) | |||||||||||||||
(Millions of yen) | Sales | YoY | Operating | YoY | Reasons for change | ||||||||||
Change | % | profit | Change | % | |||||||||||
Employee Benefit | 17,932 | +221 | +1.2% | Steady increase in corporate | |||||||||||
Services | |||||||||||||||
members | |||||||||||||||
Individual Benefit | 2,056 | ▲459 | ▲18.2% | 8,389 | +1,510 | +22.0% | Decline in | the use of services | |||||||
Services | |||||||||||||||
involving | outings | amid the | |||||||||||||
pandemic, | and | accompanying | |||||||||||||
CRM | 471 | ▲18 | ▲3.7% | ||||||||||||
decline in rebate expenses | |||||||||||||||
Incentive | 3,957 | +277 | +7.5% | 975 | +186 | +23.6% | Increase in points granted, | ||||||||
progress in point redemption | |||||||||||||||
Due to delays in providing | |||||||||||||||
Healthcare | 10,367 | ▲231 | ▲2.2% | 755 | ▲376 | ▲33.2% | services, booking of some sales | ||||||||
and profits pushed back to the next | |||||||||||||||
fiscal year | |||||||||||||||
Purchase and | 695 | ▲57 | ▲7.5% | 73 | ▲37 | ▲33.5% | Voluntary restraints on business | ||||||||
Settlement Service | |||||||||||||||
trips due to the pandemic | |||||||||||||||
Increased transactions in | |||||||||||||||
Overseas | 1,424 | +568 | +66.4% | ▲104 | +129 | - | Singapore and Thailand, among | ||||||||
other countries | |||||||||||||||
Other | 939 | +268 | - | ▲314 | ▲33 | - | ― | ||||||||
Total | 37,841 | +569 | +1.5% | 9,774 | +1,379 | +16.4% | |||||||||
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Benefit One Inc. TSE 1, Security Code: 2412 https://corp.benefit-one.co.jp/
3.Performance of Major Businesses, by Quarter
FY03/19 | FY03/20 | FY03/21 | |||||||||||||||||||||||||||||||||||||
(Millions of yen) | |||||||||||||||||||||||||||||||||||||||
1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | ||||||||||||||||||||||||||||
Employee Benefit | 3,964 | 4,157 | 4,105 | 4,247 | 4,359 | 4,471 | 4,396 | 4,484 | 4,441 | 4,443 | 4,470 | 4,577 | |||||||||||||||||||||||||||
Services | |||||||||||||||||||||||||||||||||||||||
Individual Benefit | 780 | 762 | 711 | 673 | 647 | 650 | 628 | 589 | 539 | 536 | 503 | 478 | |||||||||||||||||||||||||||
Services | |||||||||||||||||||||||||||||||||||||||
CRM | 106 | 106 | 122 | 155 | 130 | 114 | 103 | 142 | 109 | 111 | 101 | 151 | |||||||||||||||||||||||||||
Incentive | 1,162 | 718 | 790 | 808 | 1,295 | 770 | 630 | 986 | 995 | 1,120 | 794 | 1,048 | |||||||||||||||||||||||||||
Healthcare | 1,364 | 2,559 | 2,550 | 2,938 | 1,837 | 2,711 | 2,737 | 3,313 | 1,616 | 2,123 | 3,141 | 3,486 | |||||||||||||||||||||||||||
Purchase and | 185 | 160 | 165 | 191 | 189 | 187 | 179 | 195 | 160 | 162 | 182 | 191 | |||||||||||||||||||||||||||
Settlement Service | |||||||||||||||||||||||||||||||||||||||
Overseas | 80 | 84 | 91 | 90 | 107 | 253 | 227 | 268 | 230 | 331 | 422 | 441 | |||||||||||||||||||||||||||
Other | 122 | 97 | 209 | 207 | 115 | 122 | 205 | 233 | 158 | 115 | 271 | 395 | |||||||||||||||||||||||||||
Sales | 7,763 | 8,643 | 8,743 | 9,309 | 8,679 | 9,278 | 9,105 | 10,210 | 8,248 | 8,941 | 9,884 | 10,767 | |||||||||||||||||||||||||||
Gross profit | 3,219 | 3,163 | 3,598 | 3,786 | 3,553 | 3,406 | 3,754 | 4,089 | 3,832 | 3,951 | 4,076 | 4,564 | |||||||||||||||||||||||||||
Gross profit margin (%) | 41.5% | 36.6% | 41.2% | 40.7% | 40.9% | 36.7% | 41.2% | 40.0% | 46.5% | 44.2% | 41.2% | 42.4% | |||||||||||||||||||||||||||
SG&A expenses | 1,543 | 1,494 | 1,550 | 1,537 | 1,636 | 1,560 | 1,562 | 1,649 | 1,666 | 1,662 | 1,614 | 1,707 | |||||||||||||||||||||||||||
Employee Benefit | |||||||||||||||||||||||||||||||||||||||
Services + Individual | 1,532 | 1,537 | 1,788 | 1,932 | 1,624 | 1,605 | 1,849 | 1,801 | 1,999 | 2,074 | 2,098 | 2,218 | |||||||||||||||||||||||||||
Benefit Services + CRM | |||||||||||||||||||||||||||||||||||||||
Incentive | 226 | 113 | 134 | 148 | 289 | 127 | 122 | 252 | 233 | 291 | 161 | 290 | |||||||||||||||||||||||||||
Healthcare | 8 | 130 | 232 | 295 | 85 | 233 | 325 | 489 | 29 | 50 | 264 | 413 | |||||||||||||||||||||||||||
Purchase and | ▲2 | ▲9 | 16 | 34 | 34 | 21 | 22 | 32 | 16 | 4 | 22 | 31 | |||||||||||||||||||||||||||
Settlement Service | |||||||||||||||||||||||||||||||||||||||
Overseas | ▲70 | ▲66 | ▲74 | ▲88 | ▲75 | ▲66 | ▲48 | ▲42 | ▲37 | ▲25 | ▲20 | ▲22 | |||||||||||||||||||||||||||
Other | ▲19 | ▲36 | ▲49 | ▲73 | ▲41 | ▲74 | ▲78 | ▲92 | ▲75 | ▲105 | ▲63 | ▲72 | |||||||||||||||||||||||||||
(Of which, system- | |||||||||||||||||||||||||||||||||||||||
related investment) | (▲9) | (▲12) | (▲36) | (▲57) | (▲25) | (▲55) | (▲69) | (▲73) | (▲42) | (▲45) | (▲51) | (▲60) | |||||||||||||||||||||||||||
Operating income | 1,675 | 1,669 | 2,047 | 2,248 | 1,916 | 1,846 | 2,192 | 2,440 | 2,165 | 2,289 | 2,462 | 2,858 | |||||||||||||||||||||||||||
Operating income margin (%) | 21.6% | 19.3% | 23.4% | 24.2% | 22.1% | 19.9% | 24.1% | 23.9% | 26.3% | 25.6% | 24.9% | 26.5% | |||||||||||||||||||||||||||
Ordinary income | 1,696 | 1,687 | 2,052 | 2,270 | 1,925 | 1,870 | 2,208 | 2,459 | 2,179 | 2,307 | 2,474 | 2,898 | |||||||||||||||||||||||||||
Ordinary income margin (%) | 21.9% | 19.5% | 23.5% | 24.4% | 22.2% | 20.2% | 24.3% | 24.1% | 26.4% | 25.8% | 25.0% | 26.9% | |||||||||||||||||||||||||||
Net income attributable | 1,148 | 1,152 | 1,407 | 1,468 | 1,314 | 1,289 | 1,504 | 1,534 | 1,489 | 1,582 | 1,701 | 1,994 | |||||||||||||||||||||||||||
to owners of parent | |||||||||||||||||||||||||||||||||||||||
Net income margin (%) | 14.8% | 13.3% | 16.1% | 15.8% | 15.1% | 13.9% | 16.5% | 15.0% | 18.1% | 17.7% | 17.2% | 18.5% | |||||||||||||||||||||||||||
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Benefit One Inc. | TSE 1, Security Code: 2412 | |||||||||||||||||||||||||
https://corp.benefit-one.co.jp/ | ||||||||||||||||||||||||||
4.Quarterly Member Counts by Businesses | ||||||||||||||||||||||||||
FY03/19 | FY03/20 | FY03/21 | ||||||||||||||||||||||||
Ten thousand members | ||||||||||||||||||||||||||
Jun. | Sep. | Dec. | Mar. | Jun. | Sep. | Dec. | Mar. | Jun. | Sep. | Dec. | Mar. | |||||||||||||||
Employee Benefit | 481 | 489 | 493 | 490 | 513 | 522 | 522 | 522 | 590 | 624 | 624 | 621 | ||||||||||||||
Services | ||||||||||||||||||||||||||
Individual Benefit | 152 | 148 | 142 | 138 | 137 | 141 | 140 | 134 | 125 | 120 | 115 | 111 | ||||||||||||||
Services | ||||||||||||||||||||||||||
CRM | 119 | 120 | 120 | 121 | 119 | 118 | 117 | 124 | 124 | 124 | 125 | 130 | ||||||||||||||
Total members | 752 | 757 | 755 | 749 | 769 | 781 | 779 | 780 | 839 | 868 | 864 | 862 | ||||||||||||||
5.Consolidated operating performance Forecast for FY03/22 (April 1, 2021 to March 31, 2022)
FY03/21 | Forecast for FY03/22 | ||||||||||||
(Millions of yen) | |||||||||||||
Full year | Full | Change YoY | 1H | YoY | 2H | YoY | |||||||
year | |||||||||||||
Sales | 37,841 | 37,310 | ▲532 | ▲1.4% | 17,670 | +2.8% | 19,640 | ▲4.9% | ||||||
Operating income | 9,774 | 11,750 | +1,976 | +20.2% | 5,280 | +18.5% | 6,470 | +21.6% | ||||||
Ordinary income | 9,858 | 11,830 | +1,971 | +20.0% | 5,330 | +18.8% | 6,500 | +21.0% | ||||||
Net income attributable to | 6,766 | 8,120 | +1,354 | +20.0% | 3,630 | +18.2% | 4,490 | +21.5% | ||||||
owners of parent | ||||||||||||||
Note 1: Effective from FY03/22, Benefit One has adopted the new Accounting Standard for Revenue Recognition, and the sales forecast provided above is based on the new accounting standard. Sales forecast for FY03/22 when not applying the new accounting standard would be ¥25,140 million for the first half of the fiscal year (up 46.2% year over year), and ¥49,200 million for the full year (up 30.0% year over year). We do not expect any changes in the forecast for operating income, ordinary income, and net income attributable to owners of parent due to the adoption of the new Accounting Standard for Revenue Recognition.
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Benefit One Inc. TSE 1, Security Code: 2412 https://corp.benefit-one.co.jp/
6.Operating Performance Forecast by Major Business (April 1, 2021 to March 31, 2022)
(Millions of yen) | Sales | YoY | Operating | YoY | Reasons for change | |||||||
Change | % | profit | Change | % | ||||||||
Employee | Benefit | 18,275 | +343 | +1.9% | Increase in rebate expenses on expected | |||||||
Services | ||||||||||||
9,302 | +912 | +10.9% | recovery in service usage | |||||||||
Individual | Benefit | 2,671 | +144 | +5.7% | Product differentiation through platform | |||||||
Services + CRM | ||||||||||||
strategies | ||||||||||||
Incentive | 4,401 | +443 | +11.2% | 1,010 | +35 | +3.6% | Expansion of the customer base | |||||
Healthcare | 8,560 | ▲1,806 | ▲17.4% | 3,373 | +2,618 | +346.6% | Expected acceleration in the shift to | |||||
outsourced healthcare services | ||||||||||||
Expected recovery in the use of services | ||||||||||||
Purchase and | 827 | +132 | +19.0% | 158 | +85 | +116.9% | for business trips and entertainment in | |||||
Settlement Service | ||||||||||||
the second half of the fiscal year | ||||||||||||
Payment | 30 | +13 | +71.0% | ▲99 | ▲115 | - | Launch of payroll deduction service in | |||||
June 2021 | ||||||||||||
Overseas | 1,866 | +442 | +31.0% | ▲80 | +24 | -% | Earnings improvement primarily in | |||||
Singapore, Thailand, and China | ||||||||||||
Other | 680 | ▲243 | - | ▲1,914 | ▲1,583 | - | Change in cost allocation standard for | |||||
companywide expenses and others | ||||||||||||
Total | 37,310 | ▲532 | ▲1.4% | 11,750 | +1,976 | +20.2% | ||||||
Note 2: From FY03/22, we have adopted the new Accounting Standard for Revenue Recognition and accordingly revised our sales booking methods. The revision will only affect the Healthcare, Employee Benefit Services, and Overseas businesses, and is expected to have no impact on other businesses.
Note 3: From FY03/22, we have changed the way we allocate companywide expenses, and booked expenses that were previously included in Employee Benefit Services + Individual Benefit Services + CRM to Other. We have also changed the way we allocate common system infrastructure expenses, allocating these expenses, which were previously included in Other, to each business.
(Millions of yen) | Sales | YoY | (%) | Operating profit | YoY | (%) | ||||||||||
1H | 2H | 1H | 2H | 1H | 2H | 1H | 2H | |||||||||
Employee Benefit | 8,741 | 9,534 | ▲1.6% | +5.4% | ||||||||||||
Services | ||||||||||||||||
4,110 | 5,191 | +0.9% | +20.3% | |||||||||||||
Individual Benefit | 1,247 | 1,424 | ▲3.7% | +15.6% | ||||||||||||
Services + CRM | ||||||||||||||||
Incentive | 2,075 | 2,326 | ▲1.9% | +26.2% | 501 | 509 | ▲4.4% | +12.8% | ||||||||
Healthcare | 4,248 | 4,312 | +13.6% | ▲34.9% | 1,842 | 1,531 | - | +126.3% | ||||||||
Purchase and | 351 | 475 | +9.1% | +27.6% | 19 | 139 | ▲2.5% | +160.8% | ||||||||
Settlement Service | ||||||||||||||||
Payment | 5 | 25 | +45.7% | +77.5% | ▲60 | ▲38 | - | - | ||||||||
Overseas | 772 | 1,094 | +37.6% | +26.7% | ▲72 | ▲8 | - | - | ||||||||
Other | 231 | 450 | - | - | ▲1,060 | ▲854 | - | - | ||||||||
Total | 17,670 | 19,640 | +2.8% | ▲4.9% | 5,280 | 6,470 | +18.5% | +21.6% | ||||||||
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Benefit One Inc. published this content on 26 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 August 2021 07:00:14 UTC.