Cyberagent Reports First Quarter Results
CyberAgent, Inc. (JCN Newswire)
2010-02-02
Tokyo, Feb 2, 2010 - ( JCN Newswire ) - CyberAgent, Inc. (TSE: 4751), a Tokyo-based leader in Internet media markets, has announced results for the first quarter ended December 31, 2009. The group's net sales were 21,419 million yen, down 8.2% from the same period of the previous year. This constitutes an increase of 7.7% excluding the effects of excluding netprice from the consolidated subsidiaries, due to the steady expansion of business related to Ameba, etc.
Increased profits accompanying the transition of Ameba business to profitability and the improved productivity of the Internet advertising agency business allowed operating income to reach 2,115 millon yen, up 193.2% from the previous year. Ordinary income reached 2,129 million yen, up 202.4%, while quarterly net income reached 1,284 million yen, up from 73 million the previous year, as a result of recording of tax expenses, etc.
The CyberAgent Group has aimed for a business model that will provide high levels of revenue, enhancing Internet media services focused on the core business Ameba, and striving continuously to improve productivity in the Internet advertising agency business. Meanwhile, a portion of shares of stock in netprice.com, Ltd. were surrendered in the first quarter consolidated cumulative period from the standpoint of "selection and concentration," and our business portfolio was reviewed and reworked, including the conversion to an associated company accounted for by the equity method.
1) Consolidated Financial Results for the First Quarter Ended December 30, 2009
A. Business Results (millions of yen)
--------------------------------------------------------------------
Full year ended Dec 30, 2009 % 2008 %
--------------------------------------------------------------------
Net Sales 21,419 (8.2) 23,343 --
Operating Income 2,115 193.2 721 --
Ordinary Income 2,129 202.4 704 --
Net Income 1,284 -- 73 --
Net Income/Share(y) 1,981.75 113.88
---------------------------------------------------------------------
B. Financial Position
---------------------------------------------------------------------
As of Dec 30, 2009 Dec 31, 2008
---------------------------------------------------------------------
Total Assets 64,899 67,291
Shareholders' Equity 29,449 31,579
Shlders' Eqty Ratio(%) 40.9 38.2
Shlders' Eqty/share(y) 40,893.07 39,687.65
---------------------------------------------------------------------
C. Dividends
---------------------------------------------------------------------
Year ended 2010 (Estimated) 2009
--------------------------------------------------------------------
(yen) 1,300 1,000
---------------------------------------------------------------------
D. Outlook for Fical Year 2010
---------------------------------------------------------------------
Year Ending September 30, 2010 Change
---------------------------------------------------------------------
Net Sales 85,000 (9.5)
Operating Income 6,000 33.8
Ordinary Income 5,800 33.4
Net Income 2,500 97.1
---------------------------------------------------------------------
2) Results by Business Segment
i. Ameba Business
Ameba business includes Ameba, Ameba Pigg, Poupeegirl, MicroAd, etc. The number of views for Ameba in December 2009 was 12.11B PV, a significant 5.75B PV increase over the 6.36B PV recorded in the same month of the previous year. Expansion of fees for Ameba Pigg, etc., and increased advertising income resulted in net sales of 2,159 million yen, an increase of 85.2% from 1,166 million yen in the same period of the previous year, and an operating profit of 396 million, from a loss of 312 million yen which was recorded in the same period of the previous year.
ii. Media Business
Media business includes CA Mobile, Ltd. Group and other mobile business, price comparison sites provided operated by EC Navi Company, online gaming business operated by GCREST, Inc., and foreign exchange margin transaction business operated by CyberAgent FX, Inc., etc.
The exclusion of netprice from consolidated subsidiaries resulted in net sales of 9,847 million yen, down 21.6% from 12,557 million yen in the same period of the previous year, while the contribution of highly profitable businesses allowed operating profit to reach 1,435 million yen, up 26.9% from 1,130 million yen in the same period of the previous year.
iii. Internet Advertising Agency Business
Internet advertising agency business includes advertising agency conducted by the Advertising Business Headquarters and SEM (search engine marketing) business, etc. The sluggish economy has affected the advertising market, but we have worked to submit proposals that meet the needs of the customer and to obtain advertising, while at the same time striving to continue to improve productivity. As a result, net sales reached 10,789 million yen, up 2.4% from 10,535 million yen in the same period of the previous year. Operating profit was 343 million yen, from a loss of 23 million yen in the same period of the previous year.
iv. Investment Development Business
Investment development business includes fund operation, etc., at the company's corporate venture capital business CyberAgent Investment, Inc., and consists of discovering, developing, and creating value, etc., with promising venture companies in Japan, as well as China and other Asian countries, for the purpose of achieving capital gains.
Because there was no sale of held stock, net sales were 3 million, down 89.2% from 36 million yen in the same period of the previous year, and operating loss was 63 million yen, from a loss of 71 million yen in the same period of the previous year).
3) Financial Position
(1) Assets and liabilities
Total assets at the end of this 1Q consolidated accounting period were 64,899 million yen, down 2,392 million yen from the previous consolidated fiscal year. This is mainly due to the exclusion of netprice (6,724 million yen in total assets at the end of the previous consolidated fiscal year) from consolidated subsidiaries.
Liabilities came to 35,449 million yen due to the exclusion of netprice (2,419 million yen in liabilities at the end of the previous consolidated fiscal year) from consolidated subsidiaries and an increase of foreign exchange transaction customer deposits.
Net assets came to 29,449 million yen (down 2,129 million yen from the previous consolidated fiscal year). This is mainly due to a decrease in minority interests accompanying the exclusion of netprice from consolidated subsidiaries.
(2) Cash flow
Cash and cash equivalents ("funds") at the end of this 1Q consolidated accounting period were 12,450 million yen (down 5,532 million yen from the previous consolidated fiscal year).
i. Cash flow from operating activities:
Funds acquired as a result of sales activities during this 1Q consolidated accounting period reached 1,255 million yen. The main reason for this was the recording of profits.
ii. Net cash used in investing activities:
Funds acquired as a result of investment activities during this 1Q consolidated accounting period reached 6,227 million yen. This was mainly due to a decrease in funds held by netprice as a result of exclusion from consolidated subsidiaries (3,216 million yen in funds at the end of the previous consolidated fiscal year) and the acquisition of stock in subsidiaries and associated companies.
iii. Net cash used in financing activities:
Funds acquired as a result of financing activities during this 1Q consolidated accounting period reached 577 million yen. This was mainly due to the payment of dividends.
4) Segment Information
Current consolidated third quarter (Oct 1, 2008 to Sept 30, 2009)
---------------------------------------------------------------------
A B C D E F G
---------------------------------------------------------------------
Sales
1)Sales to external customers
1,565 9,243 10,610 3 21,423 (3) 21,419
---------------------------------------------------------------------
2)Sales or transfers within segments
593 604 179 0 1,377 (1,377) --
---------------------------------------------------------------------
Total
2,159 9,847 10,789 3 22,800 (1,381) 21,419
---------------------------------------------------------------------
Operating Income
396 1,435 343 (63) 2,110 4 2,115
---------------------------------------------------------------------
A. Ameba
B. Media
C. Internet Advertising Agency
D. Investment Development
E. Total
F. Write-off or Company Total
G. Consolidation
Notes:
1. 'Business segments' refers to segments the Company uses for internal management.
2. Main products of each business segment
(1) Ameba Business:
Ameba, Ameba Pigg, Poupeegirl, MicroAd, "word-of mouth" business, etc.
(2) Media Business:
Operation of PC and mobile media, online gaming business, foreign exchange margin transaction business, EC business, etc.
(3) Internet Advertising Agency Business:
Advertising agency business, SEM (search engine marketing) business, ad network business, SEO, etc.
(4) Investment Development Business:
Fund operation, investment through corporate venture capital, etc.
For complete first quarter results, please see http://ir.cyberagent.co.jp/ir_e/result/2010/pdf/1q_con.pdf.
AboutCyberAgent, Inc.
CyberAgent, Inc. (TSE: 4751; ISIN: JP3311400000) is a leading on-line advertising agency and media representative company. Established in 1998, and listed on the Tokyo Mothers Exchange in 2000, the CyberAgent group is committed to contributing to a new society through its work on the Internet, not only in its fields of advertising and media, but through finding promising new business and investing aggressively in developing new business. For more information, please visit http://ir.cyberagent.co.jp/ir_e/ Contact : CyberAgent
PRIR Division
Email: ir@cyberagent.co.jp
|
