FY 4/2021 (ending April 2021)
Q1 Financial Results
September 3, 2020
RACCOON HOLDINGS, Inc. Code: 3031 TSE 1st Section
Disclaimer
Opinions and estimates contained in this document are based on the judgement of the Company at the time of preparation and may include inaccuracies.
Actual decisions and results may differ due to various changes in the business environment.
© 2000 RACCOON HOLDINGS, Inc.
Executive Summary
HO LDI N GS
Key Points
Accelerated growth speed made the Company's characteristics visualized. (Characteristics of the Company's business structure)
The structure allows operating margin to grow in stride with topline growth, as both businesses have a high gross margin while fixed costs tend not to increase.
Impact of Novel Coronavirus (COVID-19)
Demand increased as the Company's services became more essential due to major changes in the social environment.
FY 4/2020 Q1 Results
- The transaction value of SUPER DELIVERY in the EC business increased significantly by 75.2% year on year, driving the overall business results.
- The cost of sales for the Financial business decreased as the amount of guarantees provided decreased. In addition to this, the Company reviewed allowance for guarantees, allowance for claim compensation, and allowance for doubtful accounts, in consideration of the recent situation of guarantees provided. → The cost of sales for the Financial business decreased significantly.
FY 4/2021 Full-Year Results Forecasts Revised Upward
Dividend Forecasts Revised
The Company revised its "Basic Policy on Shareholder Return" and set the target consolidated payout ratio at 45% - 50%.
© 2000 RACCOON HOLDINGS, Inc. | 3 |
Summary of Consolidated Financial Results
HO LDI N GS
YoY | ||
Net sales | 1,084 million yen | +32.5% |
Operating income | 344 million yen | +96.1% |
- The transaction value of SUPER DELIVERY in the EC business increased significantly by 75.2% year on year.
An increase in system usage sales in proportion to the transaction value contributed to a significant increase in consolidated net sales. - The amount of guarantees provided by the Financial business decreased, lowering the cost of sales. Allowances additionally recorded in the preceding Q4 were partly reversed in consideration of the situation of guarantees provided (change from the preceding Q4 to Q1), causing the rate of cost of sales to drop significantly.
-
Personnel cost and advertising expenses increased but other expenses remained at a low level.
The rate of selling, general and administrative expenses dropped by 9 percentage points year on year to 52%. - The relocation expenses of RACCOON RENT's head office totaling 10,006,000 yen were recorded as extraordinary losses.
- As the number of customer defaults in the Financial business was smaller than expected, the Company repaid its borrowings one by one.
© 2000 RACCOON HOLDINGS, Inc. | 4 |
Trends in Consolidated Net Sales by Quarter
HO LDI N GS
Net sales increased by 32.5% year on year
The growth rate rose 10.2 percentage points from 22.3% in the previous year
(Unit: Million Yen)
1,200
1,084 | ||||||||||||
1,000 | ||||||||||||
818 | ||||||||||||
800 | ||||||||||||
612 | 669 | |||||||||||
600 | 569 | |||||||||||
490 | 533 | |||||||||||
463 | ||||||||||||
426 | ||||||||||||
378 | ||||||||||||
400 | ||||||||||||
321 | 324 | |||||||||||
200 | ||||||||||||
0 | ||||||||||||
FY 4/2010 | FY 4/2011 | FY 4/2012 | FY 4/2013 | FY 4/2014 | FY 4/2015 | FY 4/2016 | FY 4/2017 | FY 4/2018 | FY 4/2019 | FY 4/2020 | FY 4/2021 | |
Q1 | Q1 | Q1 | Q1 | Q1 | Q1 | Q1 | Q1 | Q1 | Q1 | Q1 | Q1 |
© 2000 RACCOON HOLDINGS, Inc. | 5 |
Trends in Consolidated Net Sales by Quarter
HO LDI N GS
(Unit: Million Yen) | |||||||||||||||||||||||
1,200 | |||||||||||||||||||||||
1,084 | |||||||||||||||||||||||
1,000 | EC | Financial | |||||||||||||||||||||
953 | |||||||||||||||||||||||
810 | 817 | 818 | 849 | 863 | 395 | ||||||||||||||||||
800 | |||||||||||||||||||||||
682 | 387 | ||||||||||||||||||||||
647 | 659 | 669 | 377 | 386 | |||||||||||||||||||
612 | 627 | 351 | 362 | ||||||||||||||||||||
364 | |||||||||||||||||||||||
600 | |||||||||||||||||||||||
200 | 204 | 218 | 227 | 243 | 257 | ||||||||||||||||||
400 | |||||||||||||||||||||||
688 | |||||||||||||||||||||||
466 | 472 | 476 | 558 | ||||||||||||||||||||
200 | 411 | 422 | 429 | 431 | 425 | 425 | 446 | 455 | |||||||||||||||
0 | |||||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | |||||||||||
FY 4/2018 | FY 4/2019 | FY 4/2020 | FY 4/2021 | ||||||||||||||||||||
© 2000 RACCOON HOLDINGS, Inc. | 6 |
Trends in Consolidated Operating Income by Quarter
HO LDI N GS
Operating income increased significantly by 96.1% year on year
Operating margin also increased by 10.3 percentage points year on year to 31.8%
(Unit: Million Yen)
400 | 35.0% | |
Operating income | Operating margin | 31.8% |
350 | ||
30.0% | ||
300 | 25.0% | |
250 | 19.9% | |
20.0% | ||
21.5% |
200 | 16.6% | |||
17.3% | ||||
16.4% | 344 | 15.0% | ||
150 | 11.7% |
100 | 8.5% | 7.4% | 8.3% | 10.0% | |||||||
175 | |||||||||||
7.9% | |||||||||||
106 | 133 | 5.0% | |||||||||
50 | |||||||||||
4.7% | 87 | 94 | |||||||||
57 | |||||||||||
38 | |||||||||||
28 | 33 | ||||||||||
27 | 15 | ||||||||||
0 | 0.0% | ||||||||||
FY 4/2010 | FY 4/2011 | FY 4/2012 | FY 4/2013 | FY 4/2014 | FY 4/2015 | FY 4/2016 | FY 4/2017 | FY 4/2018 | FY 4/2019 | FY 4/2020 | FY 4/2021 | |
Q1 | Q1 | Q1 | Q1 | Q1 | Q1 | Q1 | Q1 | Q1 | Q1 | Q1 | Q1 |
© 2000 RACCOON HOLDINGS, Inc. | 7 |
Trends in Consolidated Operating Income by Quarter
HO LDI N GS
(Unit: Million Yen)
500
EC | Financial | Adjustment | |
Partial reversal of allowances | |
added in the preceding Q4 | 344 |
(22 million yen) |
400 | Additional 41 million yen | ||||||||||||||||||||||||||||||||||||||||
119 | |||||||||||||||||||||||||||||||||||||||||
recorded for allowances | |||||||||||||||||||||||||||||||||||||||||
220 | |||||||||||||||||||||||||||||||||||||||||
300 | M&A brokerage fees | 189 | |||||||||||||||||||||||||||||||||||||||
154 | 175 | 161 | 41 | ||||||||||||||||||||||||||||||||||||||
133 | 137 | 149 | 75 | ||||||||||||||||||||||||||||||||||||||
73 | 46 | ||||||||||||||||||||||||||||||||||||||||
45 | |||||||||||||||||||||||||||||||||||||||||
200 | 106 | 106 | 122 | 26 | |||||||||||||||||||||||||||||||||||||
25 | 103 | 37 | 41 | 17 | |||||||||||||||||||||||||||||||||||||
26 | 19 | 333 | |||||||||||||||||||||||||||||||||||||||
5 | 267 | ||||||||||||||||||||||||||||||||||||||||
100 | |||||||||||||||||||||||||||||||||||||||||
150 | 159 | 165 | 169 | 167 | 164 | 186 | 196 | 186 | 201 | 203 | |||||||||||||||||||||||||||||||
0 | -8 | ||||||||||||||||||||||||||||||||||||||||
‐71 | -72 | -68 | -70 | -71 | -68 | -81 | -87 | -84 | -87 | -88 | -80 | -107 | |||||||||||||||||||||||||||||
-100 | |||||||||||||||||||||||||||||||||||||||||
-200 | |||||||||||||||||||||||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | |||||||||||||||||||||||||||||
FY 4/2018 | FY 4/2019 | FY 4/2020 | FY 4/2021 | ||||||||||||||||||||||||||||||||||||||
© 2000 RACCOON HOLDINGS, Inc. | 8 |
FY 4/2020 Q1 Results
HO LDI N GS
(Unit: Million Yen) | ||||||
FY 4/2021 | FY 4/2020 | Results | ||||
YoY | forecasts before | Progress rate | ||||
Q1 Results | Q1 Results | |||||
revision | ||||||
Net sales | 1,084 | 818 | +32.5% | 3,900 | 27.8% | |
Gross profit | 907 | 671 | +35.2% | ー | ー | |
Selling, general and | 563 | 495 | +13.5% | ー | ー | |
administrative expenses | ||||||
Advertising and sales | 85 | 61 | +39.2% | ー | ー | |
promotion expenses | ||||||
EBITDA | 382 | 211 | +80.6% | 980 | 39.0% | |
1,070 | 35.7% | |||||
Operating income | 344 | 175 | +96.1% | 810 | 42.6% | |
900 | 38.3% | |||||
Operating margin | 31.8% | 21.5% | +10.3pt | 20.8% | ー | |
23.1% | ||||||
Ordinary income | 334 | 175 | +91.1% | 800 | 41.9% | |
890 | 37.6% | |||||
Net income attributable to | 220 | 111 | +97.6% | 490 | 45.0% | |
owners of parent | 550 | 40.1% | ||||
© 2000 RACCOON HOLDINGS, Inc. | 9 |
Trends in Results (Quarterly Basis)
HO LDI N GS
(Unit: Million Yen) | ||||||
FY 4/2020 | FY 4/2021 | |||||
Q1 | Q2 | Q3 | Q4 | Q1 | ||
Net sales | 818 | 849 | 863 | 946 | 1,084 | |
Gross profit | 671 | 692 | 681 | 698 | 907 | |
Selling, general and | 495 | 503 | 519 | 519 | 563 | |
administrative expenses | ||||||
Advertising and sales | 61 | 61 | 73 | 79 | 85 | |
promotion expenses | ||||||
Operating income | 175 | 189 | 161 | 178 | 344 | |
Operating margin | 21.5% | 22.3% | 18.8% | 18.9% | 31.8% | |
Ordinary income | 175 | 194 | 160 | 178 | 334 | |
Net income attributable | 111 | 125 | 101 | 113 | 220 | |
to owners of parent | ||||||
© 2000 RACCOON HOLDINGS, Inc. | 10 |
Factors Behind Change in EBITDA (Year-on-Year Comparison)
HO LDI N GS
(Unit: Million Yen)
600
500 | 29 | 24 | ||||||
14 | 27 | |||||||
400 | Increase in cost | |||||||
of sales | Increase in | |||||||
Increase in | ||||||||
advertising | ||||||||
personnel | Increase in other | |||||||
expenses | ||||||||
expenses | ||||||||
266 | expenses | |||||||
300 | ||||||||
200 | 382 | |||
Increase in net | ||||
sales |
100 211
0
Q1 FY 4/2020 | Q1 FY 4/2021 |
EBITDA | EBITDA |
© 2000 RACCOON HOLDINGS, Inc. | 11 |
Financial Position
HO LDI N GS
(Unit: Million Yen) | ||||
Compared with the | ||||
FY 4/2021 Q1 | FY 4/2020 | Difference | end of the previous | |
fiscal year | ||||
Current assets | 10,450 | 10,923 | -473 | 95.7% |
Non-current assets | 2,630 | 2,676 | -46 | 98.3% |
- Property, plant and equipment | 1,465 | 1,473 | -8 | 99.4% |
- Intangible assets | 491 | 505 | -13 | 97.3% |
- Investments and other assets | 672 | 697 | -24 | 96.5% |
Current liabilities | 6,975 | 8,146 | -1,170 | 85.6% |
Non-current liabilities | 1,366 | 1,454 | -88 | 93.9% |
Net assets | 4,738 | 3,999 | 738 | 118.5% |
Total assets | 13,080 | 13,600 | -519 | 96.2% |
© 2000 RACCOON HOLDINGS, Inc. | 12 |
Summary by Segment
© 2000 RACCOON HOLDINGS, Inc. | 13 |
EC Business FY 4/2021 Q1 Summary
HO LDI N GS
YoY | ||
Segment sales | 688 million yen | + 51.2% |
Segment profit | 333 million yen | + 78.6% |
YoY | YoY | |
(year-earlier) | ||
Domestic | +74.9% | +5.6% |
transaction value | ||
Overseas | +76.4% | +31.5% |
transaction value | ||
Under the impact of the
prolonged COVID-19
pandemic
- Number of posting companies and member retailers increased, given the continued need for non-face-to- face transactions
- The trend of online purchasing accelerated.
Transaction value in the fashion categories of domestic retailers, which decreased by 45% year on year in April, recovered to a year-on- year increase of 23% in July. Transaction value in other categories also increased year on year.
- Value of overseas transactions also increased due to changes in the social environment forcing a shift to non-face-to-face transactions.
Total transaction value: 5,127,935,000 yen
(+75.2% YoY in contrast to +9.5% YoY a year ago)
System usage sales increased significantly as transaction value increased.
© 2000 RACCOON HOLDINGS, Inc. | 14 |
EC Business Trends in Sales by Quarter
HO LDI N GS
(Unit: Million Yen)
800
700 | 688 | ||||||||||
600 | |||||||||||
558 | |||||||||||
500 | 422 | 429 | 431 | 425 | 425 | 446 | 466 | 455 | 472 | 476 | |
411 | |||||||||||
400 | |||||||||||
300
200
100
0
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 |
FY 4/2018 | FY 4/2019 | FY 4/2020 | FY 4/2021 | |||||||||
© 2000 RACCOON HOLDINGS, Inc. | 15 |
EC Business Trends in Segment Profit by Quarter
HO LDI N GS
(Unit: Million Yen)
400
350
300
250
200
150
100
50
0
333
267
186 196 186 201 203
150 | 159 | 165 | 169 | 167 | 164 |
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | ||
FY 4/2018 | FY 4/2019 | FY 4/2020 | FY 4/2021 | |||||||||||
© 2000 RACCOON HOLDINGS, Inc. | 16 |
EC Business Trends in Sales of SUPER DELIVERY
HO LDI N GS
(Unit: Million Yen)
800
Posting company | Member retailer | System usage | |||||||
700 | sales | sales | sales | 685 | |||||
92 |
600
500
400
300
200
100
0
555 | 63 | |||||||||||
94 | ||||||||||||
444 | 463 | 452 | 469 | 473 | ||||||||
421 | 427 | 429 | 423 | 423 | ||||||||
410 | 91 | 95 | 62 | |||||||||
88 | 90 | |||||||||||
88 | ||||||||||||
94 | 93 | 90 | 91 | 89 | 87 | 61 | 61 | 62 | ||||
61 | ||||||||||||
60 | ||||||||||||
61 | 61 | 61 | 61 | 60 | ||||||||
61 | 529 | |||||||||||
254 | 267 | 275 | 277 | 272 | 275 | 294 | 314 | 300 | 316 | 316 | 398 | |
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | ||||||||||||||||||||||||||
2020 | ||||||||||||||||||||||||||||||||||||||
2018 | 2019 | 2021 |
© 2000 RACCOON HOLDINGS, Inc. | 17 |
EC Business Trends in SUPER DELIVERY Transaction Value
HO LDI N GS
(Unit: Million Yen)
6,000
5,000 | Domestic | Overseas total | 5,127 | |||||||||
4,000 | 3,854 | |||||||||||
3,000 | 2,852 | 3,044 | 2,927 | 2,957 | 3,069 | |||||||
2,704 | 2,731 | 2,672 | ||||||||||
2,540 | 2,607 | 2,674 | ||||||||||
2,000
1,000
0
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 |
2018 | 2019 | 2020 | 2021 |
© 2000 RACCOON HOLDINGS, Inc. | 18 |
EC Business | No. of Buying Customers and Value of Transactions Per Customer HO LDI N GS |
(Unit: Million Yen)
300,000 | Value of transactions per | 25,000 | ||||||||||||
customer | ||||||||||||||
258,436 | 255,413 | 257,651 | Number of retailers | 260,512 | ||||||||||
247,304 | ||||||||||||||
250,000 | 237,608 | |||||||||||||
230,109 | 236,340 | 232,411 | 20,000 | |||||||||||
220,969 | ||||||||||||||
225,808 | 217,113 | 213,749 | ||||||||||||
200,000 | ||||||||||||||
15,000 | ||||||||||||||
150,000 | ||||||||||||||
10,000 | ||||||||||||||
100,000 | ||||||||||||||
50,000 | 5,000 | |||||||||||||
0 | 0 | |||||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | ||
2018 | 2019 | 2020 | 2021 |
© 2000 RACCOON HOLDINGS, Inc. | 19 |
Financial Business FY 4/2021 Q1 Summary
HO LDI N GS
YoY | ||
Segment Sales | 458 million yen | +12.8% |
Segment Profit | 119 million yen | +61.9% |
In terms of sales | YoY | ||
The number of inquiries continued to | +6.1% | ||
increase amidst the prolonged | |||
Guarantee | COVID-19 pandemic. | ||
Inquiries increased especially from | +69.6% | ||
companies having no use record. | |||
The transaction volume of member | |||
Payment | companies, which decreased in the | +5.3% | |
preceding Q4, has recovered since | |||
June. | * Comparison excluding internal sales | ||
The business environment stemming | |||
from the revision of the Civil Code | |||
provided tailwind. | |||
Rent | + | ||
Inquiries increased gradually as | +3.9% | ||
guarantee | |||
some firms reconsidered their | * Integrated separately operated | ||
guarantee companies in order to | services for business and residential | ||
prepare for the expanded risk of the | properties into RACOON RENT to | ||
COVID-19 pandemic. | start operations on May 1. | ||
In terms of profit
The amount of guarantees provided were reduced to lower the cost of sales.
The Company reviewed allowance for guarantees, allowance for claim compensation, and allowance for doubtful accounts and partially reversed allowances additionally reserved in the preceding Q4.
© 2000 RACCOON HOLDINGS, Inc. | 20 |
Financial Business Trends in Sales by Quarter
HO LDI N GS
(Unit: Million Yen) | |||||||||||||||||||
450 | 0 | ||||||||||||||||||
387 | 395 | ||||||||||||||||||
400 | 386 | ||||||||||||||||||
364 | 362 | 377 | 0 | ||||||||||||||||
351 | |||||||||||||||||||
350 | |||||||||||||||||||
300 | 0 | ||||||||||||||||||
243 | 257 | ||||||||||||||||||
250 | |||||||||||||||||||
218 | 227 | 0 | |||||||||||||||||
204 | |||||||||||||||||||
200 | |||||||||||||||||||
200 | |||||||||||||||||||
150 | 0 | ||||||||||||||||||
100 | |||||||||||||||||||
0 | |||||||||||||||||||
50 | |||||||||||||||||||
0 | 0 | ||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | |||||||
FY 4/2018 | FY 4/2019 | FY 4/2020 | FY 4/2021 | ||||||||||||||||
* Inter-segment transactions are excluded. | |
© 2000 RACCOON HOLDINGS, Inc. | 21 |
Financial Business Trends in Segment Profit by Quarter
HO LDI N GS
Partial reversal of
(Unit: Million Yen)allowances added in the preceding Q4 (22 million yen)
140
120 | 119 | ||||||||||||||||||||||
100 | |||||||||||||||||||||||
Additional | |||||||||||||||||||||||
80 | 73 | 75 | 41 million yen | ||||||||||||||||||||
recorded for | |||||||||||||||||||||||
M&A brokerage | allowances | ||||||||||||||||||||||
60 | fees | ||||||||||||||||||||||
37 | 41 | 45 | 46 | ||||||||||||||||||||
40 | |||||||||||||||||||||||
33 | |||||||||||||||||||||||
26 | 19 | 25 | 26 | ||||||||||||||||||||
20 | |||||||||||||||||||||||
5 | 17 | ||||||||||||||||||||||
0 | |||||||||||||||||||||||
-8 | |||||||||||||||||||||||
-20 | |||||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | |||||||||||
FY 4/2018 | FY 4/2019 | FY 4/2020 | FY 4/2021 | ||||||||||||||||||||
© 2000 RACCOON HOLDINGS, Inc. | 22 |
Financial Business Trends in the Rate of Cost of Sales
HO LDI N GS
45.0%
42.1% Rate of cost of sales on settlement of accounts
40.0%
9.6% | Recording of additional | |||||||||||||||||||||||||||||||||||||||||||||||
35.1% | 35.1% | allowances | ||||||||||||||||||||||||||||||||||||||||||||||
35.0% | ||||||||||||||||||||||||||||||||||||||||||||||||
31.1% | 32.6% | |||||||||||||||||||||||||||||||||||||||||||||||
30.0% | 29.5% | |||||||||||||||||||||||||||||||||||||||||||||||
28.6% | ||||||||||||||||||||||||||||||||||||||||||||||||
26.7% | 27.0% | 26.5% | ||||||||||||||||||||||||||||||||||||||||||||||
25.0% | 24.7% | 24.6% | Partial reversal of | |||||||||||||||||||||||||||||||||||||||||||||
allowances added in | ||||||||||||||||||||||||||||||||||||||||||||||||
4.9% | the preceding Q4 | |||||||||||||||||||||||||||||||||||||||||||||||
21.0% | Rate of cost of sales on | |||||||||||||||||||||||||||||||||||||||||||||||
20.0% | settlement of accounts | |||||||||||||||||||||||||||||||||||||||||||||||
20.8% | ||||||||||||||||||||||||||||||||||||||||||||||||
15.0% | ||||||||||||||||||||||||||||||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | ||||||||||||||||||||||||||||||||||||
FY 4/2018 | FY 4/2019 | FY 4/2020 | FY 4/2021 | |||||||||||||||||||||||||||||||||||||||||||||
© 2000 RACCOON HOLDINGS, Inc. | 23 |
Financial Business Trends in "Paid" Transaction Value
HO LDI N GS
(Unit: Million Yen)
8,000 | |||||||||||||||
External transactions | Internal transactions | 7,302 | |||||||||||||
7,000 | |||||||||||||||
6,586 | 6,604 | 6,605 | |||||||||||||
5,971 | 6,245 | 6,220 | 2,408 | ||||||||||||
6,000 | |||||||||||||||
5,225 | 5,602 | 1,670 | 1,737 | 1,713 | 1,802 | ||||||||||
5,035 | 1,701 | 1,757 | |||||||||||||
5,000 | 4,856 | 1,624 | |||||||||||||
4,644 | |||||||||||||||
4,512 | |||||||||||||||
1,637 | |||||||||||||||
1,737 | |||||||||||||||
4,000 | 1,751 | ||||||||||||||
1,724 | |||||||||||||||
1,682 | |||||||||||||||
3,000 | |||||||||||||||
4,270 | 4,488 | 4,549 | 4,848 | 4,891 | 4,802 | 4,894 | |||||||||
2,000 | |||||||||||||||
3,977 | |||||||||||||||
3,105 | 3,297 | 3,588 | |||||||||||||
1,000 | 2,920 | ||||||||||||||
2,829 | |||||||||||||||
0 | |||||||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | |||
2018 | 2019 | 2020 | 2021 |
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
© 2000 RACCOON HOLDINGS, Inc. | 24 |
Financial Business Trends in the Credit Guarantee Balance
HO LDI N GS
(Unit: Million Yen)
20,000 | ||||
18,029 | 18,403 | |||
18,000 | ||||
16,012 | ||||
16,000 | ||||
15,093 | ||||
14,000 | 13,609 | 14,073 | ||
12,194 | ||||
12,000 | 11,404 | |||
9,908 | 10,311 | |||
10,000 | ||||
8,583 | ||||
8,000 | 7,744 | |||
6,785 | ||||
6,000 | ||||
4,000
2,000
0
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 |
2018 | 2019 | 2020 | 2021 |
- The figures indicate the actual guarantee balance calculated under the formula of guarantee balance / guarantee period x average implementation period. Accordingly, the figures differ from the balances indicated in the relevant Summary of Financial Results and Securities Report.
© 2000 RACCOON HOLDINGS, Inc. | 25 |
Financial Business Trends in the Rent Guarantee Balance (Actual Basis)
HO LDI N GS
(Unit: Million Yen)
8,000 | ||||||
6,801 | ||||||
7,000 | ||||||
AEMO was made a subsidiary | 6,546 | |||||
6,049 | 6,265 | |||||
6,000 | and its residential rent | |||||
5,832 | ||||||
guarantee balance was added. | 5,435 | 5,622 | ||||
5,000 | ||||||
4,000
3,000
2,000 | ||||||||||||||||
979 | 1,113 | 1,224 | 1,252 | |||||||||||||
1,000 | 737 | 857 | ||||||||||||||
0 | ||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | ||||
2018 | 2019 | 2020 | 2021 |
- The figures indicate the actual guarantee balance calculated by the formula of guarantee balance / guarantee period x average implementation period. Accordingly, the figures differ from the balances indicated in the relevant Summary of Financial Results and Securities Report.
© 2000 RACCOON HOLDINGS, Inc. | 26 |
Revisions to the FY 4/2021 Results Forecasts
HO LDI N GS
Based on the progress made in Q1, the Company revised
its results forecasts upward
(Unit: Million Yen) | FY 4/2021 | FY 4/2021 | ||
full-year | FY 4/2020 | |||
full-year results | ||||
results | full-year | YoY | ||
forecasts | ||||
forecasts | results | |||
(before revision) | ||||
(after revision) | ||||
Net sales | 3,900 | 4,450 | 3,477 | +28.0% |
4,600 | +32.3% | |||
EBITDA | 980 | 1,330 | 848 | +56.7% |
1,070 | 1,410 | +66.2% | ||
Operating income | 810 | 1,180 | 706 | +67.1% |
900 | 1,270 | +79.9% | ||
Operating margin | 20.8% | 26.5% | 20.3% | ー |
23.1% | 27.6% | ー | ||
Ordinary income | 800 | 1,160 | 708 | +63.7% |
890 | 1,250 | +76.4% | ||
Net income | 490 | 740 | +64.0% | |
attributable to | 451 | |||
550 | 800 | +77.3% | ||
owners of parent | ||||
In the EC business, the transaction value of SUPER DELIVERY is assumed to remain at a high level going forward against the backdrop of changes in the social environment where non-face-to- face economic activities are emphasized.
In the Financial business, the default cost is assumed to be reduced from the initially planned amount.
Aggressive Strategy
Plan to change the fee structure of SUPER DELIVERY in the EC business to accelerate attraction of posting companies. Will factor in the impact of the change (-100 million yen in sales and profits).
Plan to reinforce promotion activities to facilitate medium- to long-term growth both in the EC and Financial businesses. Advertising expenses will increase by around 100 million yen.
- The results forecasts anticipate that the transaction volume of SUPER DELIVERY will grow at a rate higher than initially assumed. However, as the impact of COVID-19 is still highly uncertain, it is difficult to discern accurately how much growth can be attained throughout the year at present. Accordingly, the transaction volume and net sales of the EC business after revision are estimates with ranges, and the results forecasts after revision are forecasts with ranges both for net sales and profits.
© 2000 RACCOON HOLDINGS, Inc. | 27 |
Dividend Forecasts Revised
HO LDI N GS
Upon revising its "Basic Policy on Shareholder Return," the Company will deliver dividends with the consolidated payout ratio of 45% to 50% as a target going forward
Trends in dividends | Trends in ROE | ||||||
Interim dividend | Year-end | Annual dividend | Payout | ROE | |||
(yen) | dividend (yen) | (yen) | ratio | ||||
FY 4/2021 (forecast) | 8.0 | 8.0 | 16.0 | around 45% | FY 4/2020 | 13.5% | |
FY 4/2020 | - | 6.5 | 6.5 | 27.4% | FY 4/2019 | 15.7% | |
FY 4/2019 | - | 6.0 | 6.0 | 28.5% | FY 4/2018 | 14.0% | |
FY 4/2018 | - | 5.2 | 5.2 | 32.4% | FY 4/2017 | 13.9% | |
FY 4/2017 | - | 4.5 | 4.5 | 30.9% | FY 4/2016 | 14.4% | |
FY 4/2016 | - | 4.5 | 4.5 | 32.5% | FY 4/2015 | 13.1% | |
FY 4/2015 | - | 2.27 | 2.27 | 19.7% | |||
FY 4/2014 | 8.6% | ||||||
FY 4/2014 | - | 1.42 | 1.42 | 19.5% | |||
FY 4/2013 | 10.4% | ||||||
FY 4/2013 | - | 1.33 | 1.33 | 16.3% | |||
FY 4/2012 | 9.3% | ||||||
FY 4/2012 | - | 1.11 | 1.11 | 16.5% | |||
FY 4/2011 | 15.2% | ||||||
FY 4/2011 | - | 0.92 | 0.92 | 9.3% | |||
FY 4/2010 | 11.6% | ||||||
FY 4/2010 | - | 0.89 | 0.89 | 13.4% | |||
FY 4/2009 | 10.6% | ||||||
FY 4/2009 | - | 0.81 | 0.81 | 14.7% | |||
Going forward, the Company will endeavor to improve ROE, intending to achieve ROE of 20% or more over the medium to long term.
© 2000 RACCOON HOLDINGS, Inc. | 28 |
Reference: Appendix
© 2000 RACCOON HOLDINGS, Inc. | 29 |
Trends in Consolidated Net Sales by Quarter
HO LDI N GS
(Unit: Thousand Yen)
2017 | 2018 | |||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | |
EC | 392,285 | 393,391 | 409,310 | 416,992 | 411,858 | 422,816 | 429,159 | 431,392 |
Financial | 177,263 | 182,555 | 189,081 | 198,432 | 200,454 | 204,346 | 218,443 | 227,608 |
Total | 569,548 | 575,946 | 598,391 | 615,424 | 612,313 | 627,162 | 647,603 | 659,000 |
2019 | 2020 | |||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | |
EC | 425,150 | 425,472 | 446,243 | 466,189 | 455,214 | 472,263 | 476,792 | 558,665 |
Financial | 243,873 | 257,229 | 364,526 | 351,713 | 362,899 | 377,467 | 386,461 | 387,906 |
Total | 669,023 | 682,702 | 810,769 | 817,902 | 818,113 | 849,730 | 863,254 | 946,571 |
2021 | ||||||||
Q1 | ||||||||
EC | 688,464 | |||||||
Financial | 395,763 | |||||||
Total | 1,084,227 | |||||||
© 2000 RACCOON HOLDINGS, Inc. | 30 |
Trends in Consolidated Operating Income by Quarter
HO LDI N GS
(Unit: Thousand Yen)
2017 | 2018 | |||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | |
EC | 139,203 | 140,305 | 154,643 | 150,387 | 150,866 | 159,467 | 165,583 | 169,227 |
Financial | 13,878 | 13,679 | 14,979 | 13,470 | 26,952 | 19,235 | 25,016 | 5,055 |
Adjustment | -58,634 | -48,480 | -51,960 | -60,661 | -71,758 | -72,556 | -68,443 | -70,957 |
Total | 94,448 | 105,504 | 117,662 | 103,197 | 106,060 | 106,146 | 122,156 | 103,325 |
2019 | 2020 | |||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | |
EC | 167,308 | 164,168 | 186,450 | 196,600 | 186,422 | 201,232 | 203,865 | 267,602 |
Financial | 37,533 | 41,638 | 17,839 | 45,823 | 73,979 | 75,589 | 46,154 | -8,196 |
Adjustment | -71,567 | -68,219 | -81,257 | -87,592 | -84,626 | -87,353 | -88,140 | -80,443 |
Total | 133,274 | 137,587 | 123,032 | 154,831 | 175,775 | 189,468 | 161,878 | 178,963 |
2021 | ||||||||
Q1 | ||||||||
EC | 333,001 | |||||||
Financial | 119,745 | |||||||
Adjustment | -107,999 | |||||||
Total | 344,748 | |||||||
© 2000 RACCOON HOLDINGS, Inc. | 31 |
EC: Trends in "SUPER DELIVERY" Sales
HO LDI N GS
(Unit: Thousand Yen)
2017 | 2018 | |||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | |
System usage sales | 236,045 | 238,416 | 252,671 | 260,824 | 254,911 | 267,006 | 275,823 | 277,465 |
Member retailer sales | 61,362 | 62,442 | 61,854 | 61,986 | 61,538 | 61,342 | 61,050 | 61,002 |
Posting company sales | 94,181 | 91,496 | 93,793 | 92,986 | 94,273 | 93,141 | 90,785 | 91,183 |
Total | 391,589 | 392,354 | 408,319 | 415,797 | 410,722 | 421,490 | 427,659 | 429,651 |
Transaction value | 2,373,604 | 2,364,000 | 2,504,825 | 2,592,073 | 2,540,172 | 2,607,775 | 2,704,572 | 2,731,729 |
2019 | 2020 | |||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | |
System usage sales | 272,082 | 275,301 | 294,524 | 314,239 | 300,684 | 316,377 | 316,321 | 398,846 |
Member retailer sales | 61,170 | 60,712 | 60,888 | 61,070 | 61,814 | 61,801 | 62,315 | 62,285 |
Posting company sales | 89,903 | 87,312 | 88,610 | 88,415 | 90,066 | 91,213 | 95,092 | 94,418 |
Total | 423,155 | 423,326 | 444,023 | 463,724 | 452,564 | 469,392 | 473,730 | 555,550 |
Transaction value | 2,672,949 | 2,674,929 | 2,852,157 | 3,044,716 | 2,927,620 | 2,957,307 | 3,069,019 | 3,854,776 |
2021 | ||||||||
Q1 | ||||||||
System usage sales | 529,040 | |||||||
Member retailer sales | 63,129 | |||||||
Posting company sales | 92,962 | |||||||
Total | 685,132 | |||||||
Transaction value | 5,127,935 | |||||||
© 2000 RACCOON HOLDINGS, Inc. | 32 |
EC: No. of Buying Customers That Purchased through "SUPER DELIVERY"
and Value of Transactions | HO LDI N GS |
2015 | 2016 | |||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | |
No. of buying customers | 8,759 | 8,662 | 8,796 | 8,937 | 8,919 | 8,763 | 8,875 | 9,027 |
Value of transactions per | 263,338 | 275,998 | 273,161 | 272,449 | 254,966 | 268,478 | 270,505 | 283,623 |
customer | ||||||||
2017 | 2018 | |||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | |
No. of buying customers | 9,077 | 9,129 | 9,318 | 9,654 | 9,829 | 10,210 | 10,497 | 11,046 |
Value of transactions per | 261,496 | 258,955 | 268,815 | 268,497 | 258,436 | 255,413 | 257,651 | 247,304 |
customer | ||||||||
2019 | 2020 | |||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | |
No. of buying customers | 11,616 | 11,846 | 12,068 | 12,814 | 13,249 | 13,621 | 14,358 | 16,586 |
Value of transactions per | 230,109 | 225,808 | 236,340 | 237,608 | 220,969 | 217,113 | 213,749 | 232,411 |
customer | ||||||||
2021 | ||||||||
Q1 | ||||||||
No. of buying customers | 19,684 | |||||||
Value of transactions per | 260,512 | |||||||
customer | ||||||||
© 2000 RACCOON HOLDINGS, Inc. | 33 |
Financial: Trends in Net Sales
HO LDI N GS
(Unit: Thousand Yen)
2017 | 2018 | |||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | |
Internal sales | 43,104 | 43,644 | 45,291 | 45,921 | 43,767 | 44,865 | 45,561 | 45,215 |
External sales | 177,263 | 182,555 | 189,081 | 198,432 | 200,454 | 204,346 | 218,443 | 227,608 |
Total | 220,367 | 226,199 | 234,372 | 244,353 | 244,222 | 249,212 | 264,005 | 272,824 |
2019 | 2020 | |||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | |
Internal sales | 42,624 | 42,288 | 44,290 | 45,734 | 43,481 | 45,239 | 44,605 | 46,936 |
External sales | 243,873 | 257,229 | 364,526 | 351,713 | 362,899 | 377,467 | 386,461 | 387,906 |
Total | 286,497 | 299,518 | 408,817 | 397,447 | 406,380 | 422,706 | 431,066 | 434,842 |
2021 | ||||||||
Q1 | ||||||||
Internal sales | 62,668 | |||||||
External sales | 395,763 | |||||||
Total | 458,431 | |||||||
© 2000 RACCOON HOLDINGS, Inc. | 34 |
Financial: Trends in "Paid" Transaction Value
HO LDI N GS
(Unit: Thousand Yen)
2015 | 2016 | |||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | |
Internal transactions | 1,598,398 | 1,735,527 | 1,703,691 | 1,750,567 | 1,637,797 | 1,699,168 | 1,733,022 | 1,869,146 |
External transactions | 728,416 | 839,188 | 980,724 | 1,157,949 | 1,355,857 | 1,539,287 | 1,681,144 | 1,888,849 |
Total | 2,326,815 | 2,574,716 | 2,684,416 | 2,908,517 | 2,993,654 | 3,238,455 | 3,414,167 | 3,757,996 |
2017 | 2018 | |||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | |
Internal transactions | 1,652,225 | 1,672,828 | 1,741,922 | 1,767,514 | 1,682,372 | 1,724,556 | 1,751,225 | 1,737,694 |
External transactions | 2,000,291 | 2,311,575 | 2,597,637 | 2,841,259 | 2,829,913 | 2,920,373 | 3,105,237 | 3,297,511 |
Total | 3,652,516 | 3,984,403 | 4,339,560 | 4,608,774 | 4,512,285 | 4,644,930 | 4,856,462 | 5,035,205 |
2019 | 2020 | |||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | |
Internal transactions | 1,637,880 | 1,624,883 | 1,701,840 | 1,757,236 | 1,670,517 | 1,737,978 | 1,713,416 | 1,802,943 |
External transactions | 3,588,014 | 3,977,456 | 4,270,115 | 4,488,159 | 4,549,949 | 4,848,632 | 4,891,303 | 4,802,197 |
Total | 5,225,894 | 5,602,340 | 5,971,955 | 6,245,395 | 6,220,467 | 6,586,611 | 6,604,719 | 6,605,141 |
2021 | ||||||||
Q1 | ||||||||
Internal transactions | 2,408,086 | |||||||
External transactions | 4,894,563 | |||||||
Total | 7,302,650 | |||||||
© 2000 RACCOON HOLDINGS, Inc. | 35 |
Financial: Trends in the Credit Guarantee Balance
HO LDI N GS
(Unit: Thousand Yen) | ||||||||
2016 | 2017 | |||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | |
5,241,870 | 5,447,712 | 5,629,359 | 6,267,980 | 5,803,443 | 5,895,684 | 5,689,826 | 6,158,819 | |
2018 | 2019 | |||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | |
6,785,008 | 7,743,693 | 8,583,315 | 9,907,803 | 10,311,384 | 11,403,717 | 12,193,958 | 13,609,462 | |
2020 | 2021 | |||||||
Q1 | Q2 | Q3 | Q4 | Q1 | ||||
14,073,465 | 15,093,308 | 16,011,597 | 18,029,768 | 18,403,599 | ||||
© 2000 RACCOON HOLDINGS, Inc. | 36 |
Financial: Trends in the Rent Guarantee Balance
HO LDI N GS
(Unit: Thousand Yen) | |||||||
2016 | 2017 | ||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 |
117,323 | 170,098 | 221,702 | 267,139 | 340,143 | 402,415 | 458,777 | 594,519 |
2018 | 2019 | ||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 |
737,035 | 857,787 | 979,309 | 1,113,485 | 1,224,871 | 1,252,870 | 5,435,686 | 5,622,052 |
2020 | 2021 | ||||||
Q1 | Q2 | Q3 | Q4 | Q1 | |||
5,832,274 | 6,049,021 | 6,265,811 | 6,546,084 | 6,801,684 | |||
- The figures indicate the actual guarantee balance calculated under the formula of guarantee balance / guarantee period x average implementation period. Accordingly, the figures differ from the balances indicated in the relevant Summary of Financial Results and Securities Report.
© 2000 RACCOON HOLDINGS, Inc. | 37 |
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RACCOON Co. Ltd. published this content on 17 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 September 2020 01:04:03 UTC