The firm of innovative financing
Results for First Two Quarters of Fiscal 2019, ending September 30, 2019
May 2019
FinTech Global Incorporated
Mothers Stock Code: 8789
http://www.fgi.co.jp/english/
- FinTech, in katakana script and English letters (registration 5113746), FinTech Global, in English letters (registration 5811521) and in katakana script (registration 5811522), and FGI (registration 5113748) are registered trademarks of FinTech Global Incorporated.
Fiscal 2019 First Two Quarters Business Summary
Revenues soared 91.3% to ¥3,277 million, fueled by opening of Metsä Village and Moominvalley Park.
Began booking revenue from admission fees, pay-per-use facilities, merchandise sales, restaurants, tenant income and parking fees. Moominvalley Park drawing 74,000 visitors over the 16 days between opening and March 31, 2019.
Overall, Metsä site marked milestone on March 26, 2019, when aggregate visitor count hit 500,000.
Investment banking business saw impairment on corporate investment. Asset investments made but did exit.
Made progress in securing stable income from asset management services and Metsä operations, but saw impairment of ¥360 million on investment into fund targeting life science and IT companies. Asset investments made but did not exit. Anticipate recovery in second half. Investment banking business showed revenue decrease.
Gross Profit | Costs on Metsä operation and licensing fees paid by newly consolidated Moomin licensing subsidiary were booked under |
cost of revenues from this fiscal year. | |
Cost of revenues skyrocketed 213.3%, to ¥2,327 million, reflecting additional newly consolidated subsidiaries and | |
impairment loss on corporate investment. Gross profit thus slipped 2.0% year on year to ¥950 million. |
Operating Loss
Loss attributable to
owners of parent
Selling, general and administrative expenses rose 53.0%, to ¥2,418 million, mainly owing to higher expenses related to Metsä as well as expenses at subsidiaries, of which the total increased. Operating loss hit ¥1,467 million.
Loss attributable to owners of parent for the first two quarters of fiscal 2019 was ¥1,244 million, owing to ¥339 million loss attributable to non-controlling interests, compared with loss of ¥32 million in the corresponding period a year ago.
No change to year-end forecast.
Before Moominvalley Park opened, first-year annual attendance for the whole Metsä site was projected at 1.37 million people, of which, Moominvalley Park visitors will probably account for 880,000. But attendance is likely to exceed 1.70 million, of which Moominvalley Park visitors account for 1.10 million. Moomin Monogatari has thus raised its target to two million guests in the first year, of which visitors to Moominvalley Park should account for 1.28 million, and is working on improvements to the service and operating structure to meet the needs of a higher guest count. More visitors should boost Metsä results, which will then contribute much more to consolidated performance in the second half.
Although the impairment loss on corporate investment in the investment banking business in the first half had a major impact on performance, demand for services, particularly real estate asset management services and M&A-related services, is moving in a favorable direction. A plan has also be set to exit certain corporate investments and asset investments in the second half.
Copyright© FinTech Global Incorporated | 1 |
Fiscal 2019 First Two Quarters Consolidated Performance
Fiscal 2018 | Fiscal 2019 | YOY | YOY | Fiscal 2019 | Progress | |
(Millions of yen) | First Two | First Two | Change | Change | Full Year | |
toward goal | ||||||
Quarters | Quarters | Amount | Ratio | (Forecast) | ||
Revenues | 1,713 | 3,277 | 1,564 | 91.3% | 11,040 | 29.7% |
Gross profit | 970 | 950 | (19) | (2.0)% | 6,880 | 13.8% |
Operating | (610) | (1,467) | (857) | - | 510 | - |
income(loss) | ||||||
Ordinary | (706) | (1,567) | (861) | - | 310 | - |
income(loss) | ||||||
Profit/(loss) | ||||||
attributable to | (414) | (1,244) | (830) | - | - | - |
owners of the | ||||||
(Note) | ||||||
parent | ||||||
Note: Forecast not provided. |
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Business Summary by Segment - 1
Unit: Millions of yen
Revenue, gross profit and operating income includes intersegment transactions.
Fiscal 2018 | Fiscal 2019 | ||||||
Reporting Segments | First Two | YOY Change | Key Consolidated Subsidiaries | ||||
First Two Quarters | |||||||
Quarters | |||||||
Revenue | 1,459 | 1,381 | (78) | FinTech Global | |||
Investment Banking | |||||||
Gross Profit | 869 | 379 | (489) | FinTech Asset Management | |||
Business | FinTech Global Trading, FGI Capital Partners | ||||||
Operating income | 397 | (404) | (802) | FinTech M&A Solition,SGI-Group | |||
Revenue | 181 | 445 | 264 | ||||
Public Management | Gross Profit | 79 | 237 | 157 | Public Management Consulting Corporation | ||
Consulting Business | Geoplan Namtech | ||||||
Operating income | (20) | 76 | 97 | ||||
Revenue | 77 | 1,563 | 1,486 | Moomin Monogatari | |||
Entertainment Service | Gross Profit | 24 | 359 | 335 | Hanno Local Resource Utilization LLC | ||
Business | Rights and Brands Japan | ||||||
Operating income | (386) | (691) | (305) | Toranomon Ham | |||
Revenue | 13 | 21 | 7 | ||||
Others | Gross Profit | 13 | 21 | 7 | Adacotech Incorporated | ||
Operating income | (6) | (3) | 2 | ||||
Adjustment | Revenue | (17) | (133) | (115) | |||
(Elimination of transactions | Gross Profit | (16) | (47) | (31) | |||
among segments and corporate | |||||||
expenses) | Operating income | (595) | (443) | 151 | |||
Amount Booked on | Revenue | 1,713 | 3,277 | 1,564 | |||
Consolidated Statement of | Gross Profit | 970 | 950 | (19) | |||
Income | Operating income | (610) | (1,467) | (857) | |||
- SGI-GroupB.V. and the subsidiaries fell under consolidation in the second quarter of fiscal 2018, and FinTech M&A Solution, Inc., and Geoplan Namtech Inc. fell under consolidation in the third quarter of fiscal 2018.
- Right and Brands Japan fell fell under consolidation in the first quarter of fiscal 2019.
- The ¥(443) million operating loss for the first two quarters of fiscal 2019, under adjustment, includes intersegment elimination (¥121 million in the first two quarters of fiscal 2019) as well as corporate expenses (¥(565) million in the same period) that are not allocated to any reporting segment. Corporate expenses are general and administrative expenses not associated with any reporting segment, mainly because it is difficult to justifiably allocate such expenses to any particular reporting segment.
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Business Summary by Segment - 2
Revenues | Gross Profit | Operating Income (loss) |
(Millions of yen) | (Millions of yen) | ||||||||||||||||
4,000 | |||||||||||||||||
1,000 | 13 | 21 | |||||||||||||||
79 | |||||||||||||||||
21 | 24 | 359 | |||||||||||||||
3,000 | |||||||||||||||||
1,563 | |||||||||||||||||
2,000 | 500 | 869 | 237 | ||||||||||||||
13 | 445 | ||||||||||||||||
181 | |||||||||||||||||
77 | |||||||||||||||||
1,000 | 379 | ||||||||||||||||
1,381 | |||||||||||||||||
1,459 | |||||||||||||||||
-47 | |||||||||||||||||
-17 | -133 | -16 | |||||||||||||||
0 | |||||||||||||||||
0 | |||||||||||||||||
2018/9 | 2019/9 | 2018/9 | 2019/9 | ||||||||||||||
2Q | 2Q | 2Q | 2Q |
(Millions of yen)
500
76 | |||||||
397 | |||||||
0 | |||||||
-386 | - | 20 | -404 | ||||
- 500 -6
-691
-595-3
- 1,000
-443
- 1,500
- 2,000
2018/9 | 2019/9 |
2Q | 2Q |
1,713 | 3,277 | 970 | 950 | -610 | -1,467 |
Up 91.3% | Down 2.0% |
Note: Segment breakdown uses non-eliminated values.
Investment | Public Management | Entertainment Service Business | Other | Corporate expenses and | |||||||
Banking Business | Consulting Business | eliminated transactions | |||||||||
Copyright© FinTech Global Incorporated | 4 |
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FGI - FinTech Global Inc. published this content on 29 May 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 29 May 2019 01:33:03 UTC