PCA CORPORATION PCA CORPORATION
Financial Results Presentation
for the Fiscal Year Ended
March 31, 2024
April 30, 2024
*English translation of the original Japanese document. In case there is any inconsistency between the translation and the original, the latter shall prevail.
*In this presentation, "M" after numbers stands for "millions."
Securities code: 9629
Index
1 | FY2024 Results | p. 3 |
2 | Initiatives for FY2025 | p. 12 |
3 | Financial Forecast for FY2025 | p. 17 |
4 | Progress with the Medium-Term | p. 24 |
Management Plan |
FY2024 Results
01 (Fiscal year ended March 2024)
Summary of Consolidated Income Statement for FY2024
FY2023 | FY2024 | YoY Difference | |||
Full Year | Full Year | Amount | % | ||
(million yen) | |||||
Net Sales | 12,981 | 15,018 | 2,037 | 115.7 | |
Gross Profit | 8,051 | 9,636 | 1,584 | 119.7 | |
Gross Profit Margin | 62.0% | 64.2％ | ー | 2.2 | |
SG&A Expenses | 6,763 | 7,326 | 563 | 108.3 | |
SG&A Expense Ratio | 52.1％ | 48.8％ | ー | (3.3) | |
Operating Profit | 1,288 | 2,309 | 1,020 | 179.2 | |
Operating Profit Margin | 9.9％ | 15.4％ | ー | 5.5 | |
Ordinary Profit | 1,326 | 2,343 | 1,016 | 176.6 | |
Ordinary Profit Margin | 10.2％ | 15.6％ | ー | 5.4 | |
Profit | Attributable to Owners of | 883 | 1,611 | 728 | 182.5 |
Parent | |||||
Profit Margin | 6.8％ | 10.7％ | ー | 3.9 | |
Earnings Per Share (yen) | 44.16 | 80.48 | 36.32 | ー | |
- Net sales grew by 2,037M yen
Net Sales
(+15.7％ YOY).
- Subcontracting costs (for product development)
rose by 527M yen YOY.
Gross Profit • Cost of cloud rose by 129M yen YOY.
• Transfer to other accounts (R&D expenses) | |
decreased by 289M yen YOY. | |
SG&A | • R&D expenses rose by 307M yen YOY. |
Expenses | • Commission expenses (for system usage, |
etc.) rose by 134M yen YOY. | |
Operating | • Operating profit grew by 1,020M yen |
Profit | (+79.2％ YOY). |
Profit | • Profit grew by 728M yen |
Attributable to | |
Owners of | (+82.5％ YOY). |
Parent |
Copyright 2024-PCA Corporation. All rights reserved. | 4 |
Summary of Consolidated Income Statement for FY2024 (comparison with the plan)
FY2024 | FY2024 | Difference from the Plan | |||
Revised Plan | |||||
Full Year | Full Year | Amount | % | ||
(million yen) | |||||
Net Sales | 14,850 | 15,018 | 168 | 101.1 | |
Gross Profit | 9,122 | 9,636 | 514 | 105.6 | |
Gross Profit Margin | 61.4％ | 64.2％ | ー | 2.8 | |
SG&A Expenses | 7,293 | 7,326 | 34 | 100.5 | |
SG&A Expense Ratio | 49.1％ | 48.8％ | ー | (0.3) | |
Operating Profit | 1,829 | 2,309 | 480 | 126.2 | |
Operating Profit Margin | 12.3％ | 15.4％ | ー | 3.1 | |
Ordinary Profit | 1,867 | 2,343 | 476 | 125.5 | |
Ordinary Profit Margin | 12.6％ | 15.6％ | ー | 3.0 | |
ProfitAttributable to Owners | 1,235 | 1,611 | 376 | 130.4 | |
of Parent | |||||
Profit Margin | 8.3％ | 10.7％ | ー | 2.4 | |
Earnings Per Share | 61.79 | 80.48 | 18.68 | ー | |
(yen) | |||||
- Net sales were 168M yen greater
Net Sales
(+1.1％ compared to the plan).
- Subcontracting costs (for product development)
were 47M yen less than planned.
Gross | • Personnel expenses (PBO recalculated) were |
Profit | 109M yen less than planned. |
- Transfer to other accounts (R&D expenses) was
89M yen less than planned.
• SG&A expenses were 34M yen greater | |
SG&A | (+0.5％ compared to the plan). |
• R&D expenses were 71M yen greater than | |
Expenses | planned. |
• Personnel expenses (PBO recalculated) were | |
61M yen less than planned. | |
Operating | • Operating profit was 480M yen greater |
Profit | (+26.3％ compared to the plan). |
Profit | • Profit was 376M yen greater |
Attributable to | |
Owners of | (+30.4％ compared to the plan). |
Parent |
Copyright 2024-PCA Corporation. All rights reserved. | 5 |
Change in the Number of Corporate Users of the PCA Cloud
22,899 companies
(Number of companies)
25,000
20,000
15,000
10,000
5,000
0
FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024
Copyright 2024-PCA Corporation. All rights reserved. | 6 |
Change in Consolidated Net Sales by Category
Previous Accounting Standard | New Accounting Standard |
16,000
14,000
12,000
10,000
8,438
8,000
1,767
854
6,000
1,639
4,000
3,026
2,000
1,152
0
9,358
2,069
955
1,740
3,098
1,496
9,783
1,954
988
1,878
3,109
1,854
14,264
3,166
11,436
552
2,516
563 3,701
2,781
3,471
3,124
3,374
2,452
13,306
1,985
485
3,227
3,552
4,057
15,213
2,975
439
2,713
3,518
5,568
13,382
2,954
439
1,103
3,316
5,568
15,018 | ||||
12,981 | 1,222 | |||
532 | ||||
1,149 | 2,227 | |||
577 | ||||
1,969 | ||||
3,568 | ||||
3,327 | ||||
7,467
5,956
115.7%
106.4% | One-Time | |
92.2% | 26.5% | Payment |
113.1% | Based | |
Revenue | ||
107.2%
Subscription-
Based
73.5%
Revenue
125.4%
FY2016 FY2017 FY2018
FY2019 FY2020 FY2021 FY2022 FY2022 FY2023 FY2024
YOY | % of Total |
Comparison Sales
Cloud Maintenance Solutions and Other Merchandise Products | *Revenue proportions as of |
March 2023: 28.5％ to 71.5% |
Copyright 2024-PCA Corporation. All rights reserved. | 7 |
Breakdown of YOY Increase/Decrease in Net Sales by Category
(Millionyen) | ||||||
FY2023 | FY2024 | |||||
Net Sales | % of Total | Net Sales | % of Total | YoY | ||
Difference | ||||||
(%) | ||||||
Products | 1,149 | 8.9 | 1,222 | 8.1 | 6.4 | |
Merchandise | 577 | 4.5 | 532 | 3.6 | (7.8) | |
Maintenance | 3,327 | 25.6 | 3,568 | 23.8 | 7.2 | |
Cloud | 5,956 | 45.9 | 7,467 | 49.7 | 25.4 | |
Solutions and | 1,969 | 15.2 | 2,227 | 14.8 | 13.1 | |
Other | ||||||
Total | 12,981 | 100.0 | 15,018 | 100.0 | 15.7 | |
Key Points of Net Sales by Category
Products
- Increase in revenue from upgrades for the Electronic Books Preservation Act and the new invoicing system that started in October 2023
Maintenance Service
- Maintenance service sales increased by 241M yen due to an increase in the on-premises products, as well as due to the price revision.
Cloud Services
- Cloud sales increased by 1,511M yen.
- Robust market for the cloud shift from the on- premises due to growing DX needs
- Increasing new demand for the cloud services
- Also increased due to the price revision
Other Operating Revenue
- Revenue from our professional support service also increased along with the growth in sales.
Copyright 2024-PCA Corporation. All rights reserved. | 8 |
Breakdown of YOY Increase/Decrease in Consolidated Net Sales
- 25.4% YOY growth due to increasing new demand for the cloud services and the price revision
(Unit: million yen)
17,000
16,000
15,000
14,000
12,981
13,000
12,000
25.4%
Growth
258 15,018
1,510
240
73
(45)
11,000
FY2023 | Products | Merchandise | Maintenance | Cloud | Solutions and Other | FY2024 |
Increase
Decrease
Total
Copyright 2024-PCA Corporation. All rights reserved. | 9 |
Breakdown of YOY Increase/Decrease in Consolidated Operating Profit
-
Profit grew, although other manufacturing costs had increased (subcontracting costs increased by approx.
530M yen YOY). We are also continuing to invest in development (R&D expenses). - The increase in other SG&A expenses is mainly due to the increase in headcount and system usage costs.
(Unit: million yen)
Increase
Decrease
Total
4,000 | Operating | Net | Cost of Sales | SG&A Expenses | Operating | ||||
Profit | Sales | Profit | |||||||
3,500 | 2,038 | 47 | |||||||
(129) | |||||||||
3,000 | |||||||||
(372) | (8) | ||||||||
2,500 | (307) | (248) | 2,309 | ||||||
2,000 | |||||||||
1,500 | 1,288 | ||||||||
1,000 | |||||||||
500 | FY2023 | Net sales | Cost of cloud | Cost of purchase, etc. | Other | Sales promotion | R&D expenses | Other SG&A | FY2024 |
manufacturing | and advertising | expenses | |||||||
costs | expenses |
Copyright 2024-PCA Corporation. All rights reserved. | 10 |
Attachments
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Disclaimer
P.C.A. Corporation published this content on 08 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 May 2024 06:56:07 UTC.
