POLE TO WIN HOLDINGS, INC. March 14, 2022
Consolidated Financial Results
for the Fiscal Year Ended January 31, 2022
(Japanese Accounting Standards)
Name of Listed Company: | Poletowin Pitcrew Holdings, Inc. | |
Listing: | First Section of Tokyo Stock Exchange | |
Stock code: | 3657 | |
URL: | https://www.poletowin-pitcrew-holdings.co.jp | |
Representative: | Teppei Tachibana, President & CEO | |
Contact Person: | Joji Yamauchi, Director & CFO | |
Tel: +81-3-5909-7911 | ||
Scheduled date of General Shareholders' Meeting: April 21, 2022 | ||
Scheduled date to file Securities Report: | April 22, 2022 | |
Scheduled date to commence dividend payments: | April 22, 2022 | |
Supplementary explanatory materials prepared: | Yes | |
Explanatory meeting: | No (For analysts and institutional investors) |
(Millions of yen with fractional amounts discarded, unless otherwise noted.)
1. Consolidated financial results for the fiscal year ended January 31, 2022 (from February 1, 2021, to January 31, 2022)
(1) Consolidated operating results | (Percentages indicate year-on-year changes.) | |||||||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||||||||||
owners of parent | ||||||||||||||||
Fiscal year ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||||||||
January 31, 2022 | 34,252 | 28.1 | 3,305 | 2.7 | 3,382 | -5.9 | 2,241 | 5.7 | ||||||||
January 31, 2021 | 26,729 | 2.3 | 3,217 | -8.9 | 3,595 | 3.5 | 2,119 | 18.6 | ||||||||
(Note) Comprehensive | income | |||||||||||||||
For the year ended January 31, 2022: ¥2,581 million (43.1%) | ||||||||||||||||
For the year ended January 31, 2021: ¥1,803 million (-7.5%) | ||||||||||||||||
Net profit | Diluted net | Return on | Ordinary profit | Operating | ||||||||||||
per share | profit per share | equity (ROE) | /total assets | profit ratio | ||||||||||||
Fiscal year ended | Yen | Yen | % | % | % | |||||||||||
January 31, 2022 | 59.16 | － | 13.5 | 15.9 | 9.6 | |||||||||||
January 31, 2021 | 55.99 | 55.96 | 14.2 | 18.8 | 12.0 | |||||||||||
(Reference) Equity in | earnings of affiliates | |||||||||||||||
For the year ended January 31, 2022: ¥ -67 million | ||||||||||||||||
For the year ended January 31, 2021: ¥ - million | ||||||||||||||||
(2) Consolidated financial position | ||||||||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | |||||||||||||
As of | Millions of yen | Millions of yen | % | Yen | ||||||||||||
January 31, 2022 | 22,281 | 17,646 | 79.2 | 467.17 | ||||||||||||
January 31, 2021 | 20,389 | 15,675 | 76.9 | 413.64 |
(Reference) Equity
As of January 31, 2022: ¥17,638 million
As of January 31, 2021: ¥15,671 million
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(3) Consolidated cash flows
Cash flows from | Cash flows from | Cash flows from | Cash and cash equivalents | |
operating activities | investing activities | financing activities | at end of year | |
Fiscal year ended | Millions of yen | Millions of yen | Millions of yen | Millions of yen |
January 31, 2022 | 1,844 | -2,661 | -659 | 9,735 |
January 31, 2021 | 2,040 | -963 | -468 | 11,158 |
2. Cash dividends
Cash dividends per share | Total amount | Payout ratio | Dividends on | |||||
of dividends | net assets | |||||||
First | Second | Third | Fiscal | Annual | (consolidated) | |||
(annual) | (consolidated) | |||||||
quarter | quarter | quarter | year-end | |||||
Yen | Yen | Yen | Yen | Yen | Millions of yen | % | % | |
Fiscal year ended | - | 0.00 | - | 13.00 | 13.00 | 492 | 23.2 | 3.3 |
January 31, 2021 | ||||||||
Fiscal year ended | - | 0.00 | - | 14.00 | 14.00 | 528 | 23.7 | 3.2 |
January 31, 2022 | ||||||||
Fiscal year ending | - | 0.00 | - | 15.00 | 15.00 | 23.6 | ||
January 31, 2023 | ||||||||
(Forecasts) | ||||||||
3. Consolidated financial forecasts for the fiscal year ending January 31, 2023 (from February 1, 2022, to January 31, 2023)
Net sales | Operating | Ordinary | Profit attributable to | Net profit | |||||||
profit | profit | owners of parent | per share | ||||||||
Millions | % | Millions | % | Millions | % | Millions | % | Yen | |||
of yen | of yen | of yen | of yen | ||||||||
Six months ending | 18,739 | 21.0 | 1,409 | -6.8 | 1,371 | -11.4 | 712 | -21.5 | 18.69 | ||
July 31, 2022 | |||||||||||
Fiscal year ending | 40,088 | 17.0 | 4,002 | 21.1 | 3,926 | 16.1 | 2,428 | 8.3 | 63.64 | ||
January 31, 2023 | |||||||||||
* Notes:
(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in a
change in the scope of consolidation) | : No |
(2) Changes in accounting policies, changes in accounting estimates, and restatement of revisions | |
a. Changes in accounting standards due to revisions to accounting standards and other guidelines | : No |
b. Changes in accounting policies due to reasons other than a. above | : No |
c. Changes in accounting estimates | : No |
d. Restatement of revisions | : No |
- Number of common shares issued
a. Total number of issued shares at the end of the period (including treasury shares)
As of January 31, 2022 | : 38,156,000 shares |
As of January 31, 2021 | : 38,156,000 shares |
b. Number of shares of treasury stock at the end of the period | |
As of January 31, 2022 | : 400,502 shares |
As of January 31, 2021 | : 269,734 shares |
c. Average number of shares | |
For the year ended January 31, 2022 | : 37,881,028 shares |
For the year ended January 31, 2021 | : 37,865,200 shares |
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(Reference) Summary of non-consolidated operating results Non-consolidated financial results for the fiscal year ended January 31, 2022 (from February 1, 2021, to January 31, 2022)
(1) Non-consolidated operating results
Net sales | Operating profit | Ordinary profit | Net profit | |||||||
Fiscal year ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||
January 31, 2022 | 1,858 | 18.9 | 879 | 0.8 | 274 | -35.1 | 446 | 466.9 | ||
January 31, 2021 | 1,563 | 29.8 | 872 | 65.7 | 422 | -1.5 | 78 | -73.6 |
Net profit per share | Diluted net profit | |
per share | ||
Fiscal year ended | Yen | Yen |
January 31, 2022 | 11.79 | － |
January 31, 2021 | 2.08 | 2.08 |
(2) Non-consolidated financial position
Total assets | Net assets | Equity ratio | Net assets per share | |
As of | Millions of yen | Millions of yen | % | Yen |
January 31, 2022 | 6,471 | 5,438 | 84.0 | 144.05 |
January 31, 2021 | 5,664 | 5,609 | 99.0 | 148.07 |
(Reference) Equity |
As of January 31, 2022: ¥5,438 million
As of January 31, 2021: ¥5,609 million
- Financial statements are not subject to audit
-
Proper use of earnings forecasts, and other special matters
(Disclaimer to forward-looking statements)
The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. These statements do not guarantee that the Company will achieve its earnings forecasts. In addition, actual business and other results may differ substantially due to various factors. For details on the conditions assumed and the cautionary notes and items in the financial forecasts, please refer to "Earnings forecasts for the fiscal year ending January 31, 2023," under "Overview of Operating Results" in this report.
(How to obtain Supplementary Information to the Financial Results and details of the earnings results briefing) The Company discloses the Supplementary Information to the Financial Results on the TDnet on the same day. Along with the earnings presentation materials, streaming video of content are scheduled to be promptly posted on the Company's website.
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Table of Contents | ||
1. Overview of Operating Results ........................................................................................................................................ | 5 | |
(1) | Analysis of Operating Results .................................................................................................................................... | 5 |
(2) | Analysis of Financial Position .................................................................................................................................... | 6 |
(3) | Cash flows .................................................................................................................................................................. | 7 |
(4) | Earnings forecasts for the fiscal year ending January 31, 2023 .................................................................................. | 7 |
2. Basic Policy on Selection of Accounting Standards......................................................................................................... | 8 | |
3. Consolidated Financial Statements................................................................................................................................... | 9 | |
(1) | Consolidated Balance Sheets ...................................................................................................................................... | 9 |
(2) | Consolidated Statements of Income and Consolidated Statements of Comprehensive Income ............................... | 11 |
Consolidated Statements of Income ........................................................................................................................... | 11 | |
Consolidated Statement of Comprehensive Income................................................................................................... | 12 | |
(3) | Consolidated Statements of Changes in Net Assets.................................................................................................. | 13 |
(4) | Consolidated Statements of Cash Flows ................................................................................................................... | 15 |
(5) | Notes to Consolidated Financial Statements............................................................................................................. | 16 |
(Notes on Going Concern Assumption) ..................................................................................................................... | 16 | |
(Segment Information) ............................................................................................................................................... | 16 | |
(Per share information)............................................................................................................................................... | 21 | |
(Significant Subsequent Events)................................................................................................................................. | 21 |
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1. Overview of Operating Results
(1) Analysis of Operating Results
During the consolidated fiscal year under review, conditions for the Japanese economy are expected to continue to pick up as various policies are effective, overseas economics are recovering and preventive measures are taken against COVID-19. However, we need to pay close attention to the impact of COVID-19, supply constraints, and downside risks due to trends in raw material prices, and we need to watch the impact of fluctuations in financial and capital markets.
Under these economic conditions, in the markets related to Poletowin Pitcrew Holdings Group's core Testing/Verification & Evaluation Business, the game software market is expanding due to voluntary restraint from going out as a result of the global spread of COVID-19, while the hardware market is being affected by the shortage of semiconductors. On the other hand, in the related markets of the Internet Support Business, similarly, the e-commerce and cashless settlement markets, which are non-face-to-face and contactless services, are expanding. In addition, the spread of COVID-19 is encouraging schools to move classes online, and the government's GIGA school initiative's importance is increasing.
The Group provides checking, testing, monitoring and inspection services that requires human input on a contractual basis to corporate clients. The demand for such outsourcing services has been growing as client's business has diversified and have expanded overseas. Another reason behind this is that business processes have become more advanced and sophisticated. As new services are created in the market, both Testing/Verification
-
Evaluation Business and Internet Supporting Business, are seeing new business opportunities. During the consolidated fiscal year under review, the Company relocated its head office and increased the floor space in February in order to consolidate the sales and administrative departments of the Company and its major subsidiaries into the same office. In addition, the Company absorbed and merged with Pacer Inc., an intermediate holding company, in March in order to improve operating efficiency. In February, Pole To Win Co., Ltd. transferred its business related to tuning game balance and other aspects and development support to CREST Inc., with the aim of expanding its media contents-related business. In July, MSD Holdings Inc. became a subsidiary, for the purpose of undertaking software and system development other than games, as well as third- party verification services. In January, Ninjastars Inc. became a subsidiary, with the aim of developing a service that combines testing business and security diagnosis services. In April, QBIST Inc. and CREST Inc. relocated their headquarters to the same building and increased the floor space in order to improve synergy in the media contents business field of both companies. QBIST Inc. made Panda Graphics Inc. a subsidiary in August with the aim of increasing its share of the game art outsourcing market. In August, ENTALIZE CO., Ltd. made Delfi Sound Inc. a subsidiary in order to improve its capacity to handle voice recording. PITCREW CO., LTD. opened the Niigata Service Center in July and relocated and increased the floor space of the Sendai Service Center in anticipation of increased orders in the future. PITCREW CO., LTD. also absorbed and merged IMAid Inc. to consolidate and streamline operating resources. Overseas, OneXP LLC (a U.S. subsidiary), OneXP UK Limited (a U.K. subsidiary), 1518 Studios Rus LLC (a Russian subsidiary), and SIDE France SAS (a French subsidiary) were established for the purpose of business expansion. Through the collaboration between domestic bases and 21 overseas bases in 12 countries, we promoted the provision of "one-stop full services" such as testing, localization, voice recording, game development and marketing support, monitoring, and customer support on a global scale.
As a result of these factors, consolidated net sales for the term were ¥34,252,376 thousand (up 28.1%). Operating profit was ¥3,305,200 thousand (up 2.7%). Ordinary profit was ¥3,382,780 thousand (down 5.9%) and Profit attributable to owners of parent was ¥2,241,103 thousand (up 5.7%).
Results by segment were as follows.
Testing/Verification & Evaluation Business
By promoting collaboration between domestic and overseas group companies the group strived to support global deployment for domestic and foreign game makers, and promoted orders for outsourcing services such as defect detection, localization customer support (overseas) and voice recording, etc. for game software developers. At QaaS Inc., orders for third-party verification services in the non-game market increased. At QBIST Inc., colorful Inc., Panda Graphics Inc. and CREST Inc. promoted the expansion of media contents business related to art, game, and animation production. In addition, MIRAIt Service Design co. ltd. received orders from a government administration office to develop a system to accept various types of applications related to infectious diseases. As a result, Testing/Verification
- Evaluation Business sales increased by 31.3 % year on year, to ¥26,439,240 thousand. However, due to an increase in one-time expenses related to M&A and upfront expenses related to the expansion of the media content business, including game and animation production, operating profit decreased by 7.1% to ¥2,461,133 thousand yen.
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Poletowin Pitcrew Holdings Inc. published this content on 18 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 March 2022 07:00:06 UTC.
