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SANSAN, INC.

(4443)
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Sansan : Financial Results for FY2021 Q1

10/08/2021 | 02:07am EDT
October 8, 2021
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Yes
Yes (for institutional investors and analysts)

Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

October 8, 2021

Financial Results for FY2021 Q1

Company name:

Sansan, Inc.

Listing:

Tokyo Stock Exchange

Securities code:

4443

URL:

https://www.corp-sansan.com/

Representative:

Chikahiro Terada, Representative Director & CEO

Inquiries:

Muneyuki Hashimoto, Director, Executive Officer, CFO

TEL:

+81-3-6758-0033

Scheduled date to file quarterly securities report:

Scheduled date to commence dividend payment:

Preparation of supplementary materials on financial results:

Holding of financial results meeting:

(Millions of yen with fractional amounts rounded down, unless otherwise noted)

1. Consolidated financial results for the first three months of the fiscal year ending May 31, 2022 (from June 1, 2021 to August 31, 2021)

(1) Consolidated operating results (cumulative)

(Percentages indicate year-on-year changes.)

Net sales

Operating profit

Ordinary profit

Profit attributable to

owners of parent

Three months ended

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

August 31, 2021

4,597

25.4

(102)

-

754

644.3

652

662.8

August 31, 2020

3,667

18.3

193

(22.1)

101

(47.4)

85

(19.6)

Note: Comprehensive income

Three months ended August 31, 2021:

¥(456) million [-%]

Three months ended August 31, 2020:

¥89 million [(10.5)%]

Basic earnings per

Diluted earnings

share

per share

Three months ended

Yen

Yen

August 31, 2021

20.93

20.58

August 31, 2020

2.75

2.72

(2) Consolidated financial position

Total assets

Net assets

Equity-to-asset ratio

As of

Millions of yen

Millions of yen

%

August 31, 2021

23,266

12,210

52.0

May 31, 2021

24,310

12,584

51.5

Reference: Equity

As of August 31, 2021:

¥12,103 million

As of May 31, 2021:

¥12,516 million

2. Cash dividends

Annual dividends

First quarter-end

Second quarter-end

Third quarter-end

Fiscal year-end

Total

Yen

Yen

Yen

Yen

Yen

Fiscal year ended

-

0.00

-

0.00

0.00

May 31, 2021

Fiscal year ending

-

May 31, 2022

Fiscal year ending

May 31, 2022

0.00

-

0.00

0.00

(Forecast)

Note: Revisions to the forecast of cash dividends most recently announced: None

3. Consolidated earnings forecasts for the fiscal year ending May 31, 2022 (from June 1, 2021 to May 31, 2022)

(Percentages indicate year-on-year changes.)

Profit attributable to

Basic

Net sales

Operating profit

Ordinary profit

earnings per

owners of parent

share

Millions of

%

Millions of

%

Millions of

%

Millions of

%

Yen

yen

yen

yen

yen

Fiscal year ending

20,230

25.0

450

(38.9)

to

to

to

to

-

-

-

-

-

May 31, 2022

20,716

28.0

800

8.6

Notes: 1. Revisions to the earnings forecasts most recently announced: None

2. Although the Company is expecting to record a surplus in both ordinary profit and profit attributable to owners of parent, it is difficult to make a precise forecast. Accordingly, the Company will refrain from disclosing a concrete forecast at this point in time.

* Notes

  1. Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
  2. Application of specific accounting for preparing the quarterly consolidated financial statements: None
  3. Changes in accounting policies, changes in accounting estimates, and restatement
    1. Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
    2. Changes in accounting policies due to other reasons: None
    3. Changes in accounting estimates: None
    4. Restatement: None
  4. Number of issued shares (Common shares)
    1. Total number of issued shares at the end of the period (including treasury shares)

As of August 31, 2021

31,195,523 shares

As of May 31, 2021

31,183,645 shares

b. Number of treasury shares at the end of the period

As of August 31, 2021

95 shares

As of May 31, 2021

40 shares

c. Average number of outstanding shares during the period

For the three months ended August 31, 2021

31,185,068 shares

For the three months ended August 31, 2020

31,138,853 shares

  • Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
  • Proper use of earnings forecasts, and other special matters
    Forward-looking statements, including the consolidated forecasts stated in these materials, are based on information currently available to the Company and certain assumptions deemed reasonable. Results may differ materially from the consolidated forecasts due to various factors.

Sansan,

Inc. (TSE 4443)

Financial Results for FY2021 Q1

Attached Material

Index

1. Qualitative information on quarterly consolidated financial results .........................................................

2

(1)

Explanation of operating results ............................................................................................................

2

(2)

Explanation of financial position...........................................................................................................

5

(3)

Explanation of consolidated earnings forecasts and other forward-looking statements ........................

5

2. Quarterly consolidated financial statements and significant notes thereto ...............................................

6

(1)

Quarterly consolidated balance sheet ....................................................................................................

6

(2)

Quarterly consolidated statements of income and comprehensive income ...........................................

8

Quarterly consolidated statement of income .........................................................................................

8

Quarterly consolidated statement of comprehensive income ................................................................

9

(3)

Notes to the quarterly consolidated financial statements.....................................................................

10

(Notes on premise of going concern)...................................................................................................

10

(Notes on significant changes in the amount of shareholders' equity) ................................................

10

(Changes in accounting policies).........................................................................................................

10

(Segment information, etc.) .................................................................................................................

11

(Significant events after reporting period)...........................................................................................

13

- 1 -

Sansan, Inc. (TSE 4443)

Financial Results for FY2021 Q1

1. Qualitative information on quarterly consolidated financial results

  1. Explanation of operating results
    Under the mission of "Turning encounters into innovation" and the vision of "Become business infrastructure," the Group is developing services to solve various business issues by using new approaches that combine "systems that use technology and data input to digitize analog information" with "cloud software."
    Specifically, the Group is developing services in areas such as business card management, invoices and contracts, as well as business events and seminars, to promote digital transformation (DX) to change the working styles of companies and business people. Moreover, as a result of recent changes to working styles due to the spread of COVID-19, new ways of thinking toward DX, and greater attention being attracted to the SaaS (Software as a Service) products, the DX market is forecast to reach ¥3,042.5 billion (an increase of ¥2,251.3 billion since 2019) by 2030 (Note 1.), while the SaaS market in Japan is forecast to reach ¥1,117.8 billion by 2024 (an increase of ¥516.2 billion since 2019) (Note 2.). In addition, as the Group has grown, the B2B business card management service market has seen 12-fold expansion from 2012 to 2019, and the "Sansan," operated by the Company, holds an 83.5% market share in this market (Note 3.)
    In the first three months of the fiscal year ending May 31, 2022 ("the period under review"), the Group engaged in initiatives such as reorganizing the structure to increase the speed of business growth and strengthening the sales structure through strategic hiring, in order to realize continuous growth of net sales. In addition, apart from conducting advertising focused on TV commercials for the B2B business card-based contact management service "Sansan," the Group engaged in initiatives such as expanding functions for the online invoice receiving solution "Bill One" and "Eight," a business card management app.
    Furthermore, the Company decided to select and apply for the "Prime Market" in Tokyo Stock Exchange, Inc.'s new market segments in addition to deciding to implement a 4-for-1 stock split on its common shares with the effective date of December 1, 2021. For details, please refer to "Notification Regarding Application for Selection of 'Prime Market' Under the New Market Segments" and "Notification Regarding Stock Split and Partial Amendments to Articles of Incorporation" announced on October 8, 2021.
    As a result, net sales totaled ¥4,597,074 thousand (up 25.4% year on year), gross profit totaled
    ¥4,088,249 thousand (up 26.6% year on year), and gross profit margin was 88.9% (up 0.8 points year on year) in the period under review. However, operating profit was recorded at negative ¥102,274 thousand (compared to operating profit of ¥193,918 thousand in the previous fiscal year). Progress was made in the strategy to achieve medium- to long-term growth, so in addition to the ¥209,094 thousand year on year increase in advertising expenses, this was attributed to the ¥489,923 thousand year on year increase in personnel expenses due to the boosted hiring of employees and was in line with the consolidated earnings forecast announced at the beginning of the fiscal year. In addition, as announced on July 19, 2021, the recording of ¥979,690 thousand of gain on sales of investment securities in non- operating income resulted in ordinary profit of ¥754,603 thousand (up 644.3% year on year) and profit attributable to owners of parent of ¥652,583 thousand (up 662.8% year on year).
    Notes: 1. Based on "2020 Outlook of the Digital Transformation Market" by Fuji Chimera Research Institute
    1. Based on "2020 New Software Business Markets" by Fuji Chimera Research Institute
    2. Based on "Latest trends in business card management services and sales services [SFA/CRM/online business card exchange]" by Seed Planning, Inc.

Results by segment are as follows.

Additionally, effective from the first quarter of the current fiscal year, the Company has reorganized its business management system with the aim of optimizing the allocation of resources to each product, in order to promote the growth of each product. As a result, the former "Sansan Business" has been

- 2 -

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Disclaimer

Sansan Inc. published this content on 08 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 October 2021 06:06:03 UTC.


© Publicnow 2021
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Sales 2022 20 326 M 160 M 160 M
Net income 2022 816 M 6,42 M 6,42 M
Net cash 2022 9 957 M 78,3 M 78,3 M
P/E ratio 2022 161x
Yield 2022 -
Capitalization 130 B 1 022 M 1 022 M
EV / Sales 2022 5,90x
EV / Sales 2023 4,75x
Nbr of Employees 954
Free-Float 58,6%
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Mean consensus OUTPERFORM
Number of Analysts 3
Last Close Price 1 040,00 JPY
Average target price 2 150,00 JPY
Spread / Average Target 107%
EPS Revisions
Managers and Directors
Chikahiro Terada President, CEO & Representative Director
Muneyuki Hashimoto CFO, Director, Executive Officer & Head-Accounting
Kenji Shiomi Director, CTO, Executive Officer & Head-Eight
Yasuko Yokosawa Independent Outside Director
Yoshiki Ishikawa Independent Outside Director
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