Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Japan
  4. Japan Exchange
  5. Will Group, Inc.
  6. News
  7. Summary
    6089   JP3154160000

WILL GROUP, INC.

(6089)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Will : Summary of Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2022

09/08/2021 | 11:02pm EDT

(English Translation)

This English translation is an abridged version of the original document in Japanese. In the event of any discrepancy, the Japanese version prevails.

August 6, 2021

Summary of Consolidated Financial Results

for the First Quarter of the Fiscal Year Ending March 31, 2022

(Three Months Ended June 30, 2021)

[IFRS]

Company name:

WILL GROUP, INC.

Listing: Tokyo Stock Exchange, First Section

Stock code:

6089

URL: https://willgroup.co.jp/

Representative:

Shigeru Ohara, President and Representative Director

Contact:

Satoshi Takayama, Chief Administrative Officer

Tel: +81-3-6859-8880

Scheduled date of filing of Quarterly Report:

August 6, 2021

Scheduled date of payment of dividend:

-

Preparation of supplementary materials for quarterly financial results: Yes

Holding of quarterly financial results meeting:

None

(All amounts are rounded down to the nearest million yen)

1. Consolidated Financial Results for the Three Months Ended June 30, 2021 (April 1, 2021 - June 30, 2021)

(1) Consolidated operating results

(Percentages represent year-on-year changes)

Profit attributable

Total

Revenue

Operating profit

Profit before tax

Profit

to owners of

comprehensive

parent

income

Three months ended

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Million yen

%

31,539

10.1

1,136

14.9

1,146

17.3

832

12.3

702

11.1

761

(46.6)

Jun. 30, 2021

Three months ended

28,635

(2.5)

989

(7.0)

977

(5.6)

741

8.4

632

0.6

1,426

449.5

Jun. 30, 2020

Basic earnings per share

Diluted earnings per share

Three months ended

Yen

Yen

31.54

31.05

Jun. 30, 2021

Three months ended

28.45

28.07

Jun. 30, 2020

(2) Consolidated financial position

Equity attributable to

Ratio of equity attributable

Total assets

Total equity

to owners of parent to total

owners of parent

assets

Million yen

Million yen

Million yen

%

As of Jun. 30, 2021

45,532

10,149

8,712

19.1

As of Mar. 31, 2021

46,760

10,027

8,240

17.6

2. Dividends

Dividend per share

1Q-end

2Q-end

3Q-end

Year-end

Total

Yen

Yen

Yen

Yen

Yen

Fiscal year ended Mar. 31, 2021

-

0.00

-

24.00

24.00

Fiscal year ending Mar. 31, 2022

-

Fiscal year ending Mar. 31, 2022

0.00

-

25.00

25.00

(forecasts)

Note: Revisions to the most recently

announced dividend

forecast: None

3. Consolidated Earnings Forecasts for the Fiscal Year Ending March 31, 2022 (April 1, 2021 - March 31, 2022)

(Percentages represent year-on-year changes)

Profit attributable to

Basic

Revenue

Operating profit

Profit before tax

Profit

earnings per

owners of parent

share

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Yen

First half

63,500

9.1

2,000

(10.0)

1,950

(6.5)

1,360

(10.7)

1,180

(9.6)

52.97

Full year

127,000

7.4

4,050

0.5

3,920

3.5

2,550

(4.8)

2,280

(3.5)

102.35

Note: Revisions to the most recently announced consolidated forecast: Yes

* Notes

(1) Changes in significant subsidiaries during the period (changes in scope of consolidation): None

Newly added: -

Name: -

Excluded: -

Name: -

  1. Changes in accounting policies and accounting-based estimates
    1. Changes in accounting policies required by IFRS: None
    2. Changes in accounting policies other than 1) above: None
    3. Changes in accounting-based estimates: None
  2. Number of outstanding shares (common stock)
    1. Number of shares outstanding at the end of period (including treasury shares)

As of Jun. 30, 2021:

22,592,500 shares

As of Mar. 31, 2021:

22,554,500 shares

2) Number of treasury shares at the end of period

As of Jun. 30, 2021:

289,506 shares

As of Mar. 31, 2021:

290,379 shares

3) Average number of shares outstanding during the period

Three months ended Jun. 30, 2021:

22,275,957 shares

Three months ended Jun. 30, 2020:

22,226,097 shares

Note: Treasury shares at the end of period include shares owned by Employee Stock Ownership Plan.

(284,127 shares as of Jun. 30, 2021

285,000 shares as of Mar. 31, 2021)

  • This quarterly financial report is not subject to quarterly review by certified public accountants or auditing firms.
  • Explanation of appropriate use of earnings forecasts and other special items
    Forecasts of future performance in this report are based on assumptions judged to be valid and information available to the Company's management at the time the materials were prepared, but are not promises by the Company regarding future performance. Actual results may differ significantly from these forecasts for a number of reasons. Please refer to "1. Qualitative Information on Quarterly Consolidated Financial Performance, (3) Explanation of Consolidated Forecast and Other Forward-looking Statements" on page 4 for forecast assumptions and notes of caution for usage.

WILL GROUP, INC. (6089) Financial Results for the First Quarter of FY3/22

Contents of Attachments

1. Qualitative Information on Quarterly Consolidated Financial Performance

2

(1)

Explanation of Results of Operations

2

(2)

Explanation of Financial Position

3

(3)

Explanation of Consolidated Forecast and Other Forward-looking Statements

4

2. Condensed Quarterly Consolidated Financial Statements and Notes

5

(1)

Condensed Quarterly Consolidated Statement of Financial Position

5

(2)

Condensed Quarterly Consolidated Statements of Profit or Loss and Comprehensive Income

7

Condensed Quarterly Consolidated Statement of Profit or Loss

For the Three-month Period

7

Condensed Quarterly Consolidated Statement of Comprehensive Income

For the Three-month Period

8

(3)

Condensed Quarterly Consolidated Statement of Changes in Equity

9

(4)

Condensed Quarterly Consolidated Statement of Cash Flows

10

(5)

Notes to Condensed Quarterly Consolidated Financial Statements

11

Going Concern Assumption

11

Segment and Other Information

11

1

WILL GROUP, INC. (6089) Financial Results for the First Quarter of FY3/22

1. Qualitative Information on Quarterly Consolidated Financial Performance

(1) Explanation of Results of Operations

In the first quarter of the fiscal year ending March 31, 2022 (the "period under review"), economic activities in Japan were restricted due to a series of state of emergency declarations and quasi-emergency measures to tackle the spread of COVID-19. Nonetheless, social activities gradually showed signs of recovery thanks to various governmental policies and improving overseas economies coupled with vaccination and other measures to halt the spread of infections. However, concerns over the spread of a new variant have made it impossible to tell when the pandemic will end, resulting in lingering uncertainty over the outlook.

The Company and its subsidiaries (the "Group") have worked on the "WORK SHIFT strategy" to improve operating profit margin through a portfolio shift and a digital shift to achieve the Medium-Term Plan, "WILL-being 2023," concluding in the fiscal year ending March 31, 2023.

In Japan, intermittent states of emergency declared mainly for the Greater Tokyo Area and the spread of COVID-19 impacted the sales outsourcing sector except for the telecommunications subsector and the factory outsourcing sector, but the other sectors remained solid. The Group has made upfront investments such as increasing the number of sales personnel and consultants in the areas we are focusing on, including introduction of nursing caregivers, human resources services concerning construction engineers, and human resource support for startup firms to realize Perm (permanent placement in various fields, and temporary staffing for highly specialized fields) SHIFT.

Outside Japan, Singapore and Australia, where we have our main presence, contained the spread of COVID-19 and client companies resumed recruiting activities, which contributed to the stable performance of both temporary staffing and permanent placement businesses.

As a result, for the period under review, the Company reported consolidated revenue of 31,539 million yen (up 10.1% year on year), operating profit of 1,136 million yen (up 14.9%), profit before tax of 1,146 million yen (up 17.3%), profit of 832 million yen (up 12.3%) and profit attributable to owners of parent of 702 million yen (up 11.1%). EBITDA (operating profit + depreciation and amortization) was 1,617 million yen (up 6.9%).

Results by operating segment were as follows.

Regarding the accounting method for reportable business segments, we had previously adopted a method of reflecting certain adjustments under Japanese GAAP. After re-examining segment information to be reviewed regularly, the Group decided to align the accounting method with the accounting policies of the Group from the beginning of the first quarter of the fiscal year ending March 31, 2022. Accordingly, reportable segment information for the previous corresponding quarter has been restated.

1) Domestic WORK Business

The Domestic WORK Business offers temporary staffing, permanent placement and consignment services in Japan specifically for sectors such as sales outsourcing, call center outsourcing, factory outsourcing and care support/nursery schools. Sectors other than telecommunications in the sales outsourcing sector and the factory outsourcing sector saw decreased demand due to the continued impact of COVID-19. However, the sectors such as telecommunications in the sales outsourcing sector, call center outsourcing and care support/nursery schools and human resource support for startups enjoyed solid demand and grew strongly. Each sector focused on developing new clients for new services including a service to perform proxy marketing and a contact center service by the staff all working from home, anticipating a phase with and post COVID-19.

Earnings declined as the Group made upfront investments such as increasing the number of sales personnel and consultants in the areas of introduction of nursing caregivers, human resource services concerning construction engineers, and human resource support for startup firms.

As a result, the segment recorded external revenue of 19,832 million yen (up 0.3% year on year) and segment profit of 977 million yen (down 13.2%).

2

WILL GROUP, INC. (6089) Financial Results for the First Quarter of FY3/22

2) Overseas WORK Business

In the human resources service, which operates in the ASEAN and Oceania regions, the spread of COVID-19 was contained and client companies resumed recruiting activities, which contributed to the stable performance of both temporary staffing and permanent placement businesses.

For the period under review, earnings for this business segment increased on the back of increased sales from permanent placement and temporary staffing services despite an increase in personnel and other expenses that had been curbed and a decrease in employment support subsidy income as a countermeasure against COVID-19 in Singapore, which was recorded in the previous fiscal year.

As a result, the segment recorded external revenue of 11,417 million yen (up 35.0% year on year) and segment profit of 759 million yen (up 60.9%).

3) Others

In the other businesses, we made efforts to strengthen the development of new platforms, such as "Hourmane," a working time management system for foreign workers, and "ENPORT," a foreign worker support service, all with a view to expanding beyond labor intensive businesses.

For the period under review, earnings declined due to continued upfront investment in the HRTech field.

As a result, the segment recorded external revenue of 289 million yen (down 26.8% year on year) and segment loss of 108 million yen (compared with segment loss of 96 million yen a year earlier).

  1. Explanation of Financial Position 1) Assets, liabilities and equity Assets

Current assets at the end of the period under review amounted to 22,551 million yen, down 1,018 million yen from the end of the previous fiscal year. This is primarily due to decreases in cash and cash equivalents of 931 million yen and other financial assets of 475 million yen, which were partially offset by an increase in trade and other receivables of 234 million yen.

Non-current assets amounted to 22,980 million yen at the end of the period under review, down 209 million yen from the end of the previous fiscal year. This is primarily due to decreases in right-of-use assets of 263 million yen and other intangible assets of 107 million yen, which were partially offset by an increase in deferred tax assets of 178 million yen.

As a result, total assets decreased 1,228 million yen from the end of the previous fiscal year to 45,532 million yen.

Liabilities

Current liabilities at the end of the period under review amounted to 25,015 million yen, up 225 million yen from the end of the previous fiscal year. This is primarily due to increases in other financial liabilities of 651 million yen and borrowings of 352 million yen, which were partially offset by a decrease in trade and other payables of 818 million yen.

Non-current liabilities amounted to 10,367 million yen at the end of the period under review, down 1,575 million yen from the end of the previous fiscal year. This is primarily due to decreases in other financial liabilities of 949 million yen and borrowings of 675 million yen.

As a result, total liabilities decreased 1,349 million yen from the end of the previous fiscal year to 35,383 million yen.

Equity

Total equity at the end of period under review amounted to 10,149 million yen, up 121 million yen from the end of the previous fiscal year. This is primarily due to increases in capital surplus of 368 million yen and retained earnings of 162 million yen, which were partially offset by a decrease in non-controlling interests of 349 million yen.

3

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Will Group Inc. published this content on 09 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 September 2021 03:01:02 UTC.


© Publicnow 2021
All news about WILL GROUP, INC.
09/21WILL : Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2022
PU
09/21RareJob Inc. agreed to acquire 49% stake in Borderlink, Inc from Will Group, Inc. for a..
CI
09/20WILL GROUP, INC.(TSE : 6089) added to S&P Global BMI Index
CI
09/08WILL : Summary of Consolidated Financial Results for the First Quarter of the Fiscal Year ..
PU
09/08WILL : Supplementary Materials for the First Quarter of the Fiscal Year Ending March 31, 2..
PU
09/08Will Group, Inc. Provides Dividend Guidance for the Fiscal Year Ending March 31, 2022
CI
09/08Will Group, Inc. Provides Earnings Guidance for the First Half and Full Year of Fiscal ..
CI
09/08Will Group, Inc. Announces Consolidated Earnings Results for the First Quarter Ended Ju..
CI
06/28WILL : Financial Results for the Fiscal Year Ended March 31, 2021 and Medium-term Manageme..
PU
06/07WILL : Supplementary Materials for the Fiscal Year Ended March 31, 2021
PU
More news
Analyst Recommendations on WILL GROUP, INC.
More recommendations
Financials
Sales 2022 120 B 1 053 M 1 053 M
Net income 2022 1 890 M 16,7 M 16,7 M
Net Debt 2022 - - -
P/E ratio 2022 15,2x
Yield 2022 1,94%
Capitalization 28 805 M 253 M 254 M
Capi. / Sales 2022 0,24x
Capi. / Sales 2023 0,24x
Nbr of Employees 5 156
Free-Float 59,3%
Chart WILL GROUP, INC.
Duration : Period :
Will Group, Inc. Technical Analysis Chart | 6089 | JP3154160000 | MarketScreener
Technical analysis trends WILL GROUP, INC.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 0
Last Close Price 1 289,00 
Average target price
Spread / Average Target -
EPS Revisions
Managers and Directors
Shigeru Ohara President & Representative Director
Ryosuke Ikeda Chairman
Satoshi Takayama Executive Officer & General Manager-Administration
Shuhei Ito Independent Outside Director
Chie Ikegawa Independent Director
Sector and Competitors
1st jan.Capi. (M$)
WILL GROUP, INC.28.13%253
RECRUIT HOLDINGS CO., LTD.62.35%100 825
PAYCHEX, INC.32.83%44 630
BENEFIT ONE INC.80.00%7 683
TRINET GROUP, INC.20.29%6 385
TECHNOPRO HOLDINGS, INC.26.84%3 425