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    3092   JP3399310006

ZOZO, INC.

(3092)
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ZOZO : Consolidated Financial Results For the first quarter for the fiscal year ending March 31, 2022

07/29/2021 | 02:08am EST

Consolidated Financial Results

For the first quarter for the fiscal year ending March 31, 2022 [JGAAP]

Company Name:

ZOZO, Inc.

Listed stock exchange:

Code:

3092

URL

Representative:

Representative Director, President & CEO

Kotaro Sawada

Contact Person:

Director, Executive Vice President & CFO

KojiYanagisawa

Scheduled date to file the

August 13, 2021

Scheduled date of

financial report:

dividend payment:

Supplementary material for quarterly

:

Yes

financial results

Quarterly results briefing

:

Yes ( For analysts and institutional investors

July 29, 2021 Tokyo

https://corp.zozo.com

(TEL) 043(213)5171

-

)

(Rounded down to million yen)

1. Consolidated business results for the first quarter of the fiscal year ending March 31, 2022 (April 1 to June 30, 2021)

(1) Consolidated business results (cumulative)

(Percentages indicateYoY changes)

Net sales

Operating profit

Ordinary profit

Profit attributable to

owners of parent

Million yen

%

Million yen

%

Million yen

%

Million yen

%

First quarter of fiscal year

38,866

15.4

12,591

20.8

12,534

19.7

8,731

19.3

ending March 31, 2022

First quarter for theYear

33,674

19.4

10,423

33.9

10,473

37.5

7,321

37.5

Ended March 31, 2021

(NOTE)

Comprehensive income

First quarter of fiscal year ending March 31, 2022

8,790 Million yen

(19.7%)

First quarter of fiscal year ended March 31, 2021

7,340 Million yen

(38.3%)

Net profit per share

Fully diluted

net profit per share

Yen

Yen

First quarter of fiscal year

28.91

-

ending March 31, 2022

First quarter of fiscal year

23.98

-

ended March 31, 2021

(NOTE) Fully diluted net profit per share is not presented because there are no potential shares with dilutive effects.

(2) Consolidated Financial Position

Total assets

Net assets

Equity ratio

Million yen

Million yen

%

First quarter of fiscal year

85,726

24,392

28.3

ending March 31, 2022

Fiscal year ended March

125,656

55,507

44.1

31, 2021

(Reference) Shareholders' equity First quarter of fiscal year ending March 31, 2022

24,287 Million yen

Fiscal year ended March 31, 2021

55,433 Million yen

2.Dividend

Annual dividends

End of Q1

End of Q2

End of Q3

Year-end

Total

Yen

Yen

Yen

Yen

Yen

Fiscal year ended

-

15.00

-

26.00

41.00

March 31, 2021

Fiscal year ending

-

March 31, 2022

Fiscal year ending March

22.00

-

33.00

55.00

31, 2022 (Forecast)

3. Forecasts for the fiscal year ending March 31, 3.2022 (April 1, 2021, to March 31, 2022)

1

(Percentages indicateYoY changes)

Profit attributable

Net profit per

Net sales

Operating profit

Ordinary profit

to owners of

share

parent

Fiscal year ending

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Yen

162,600

10.3

47,800

8.3

47,800

7.7

33,300

7.7

109.05

March 31, 2022

(NOTE)

Revisions to the most recently announced consolidated forecasts:

None

2

: None
: None
: None
: Yes

Notes

(1) Changes of important subsidiaries during the period

: None

(Changes in specified subsidiaries resulting in changes in the scope of consolidation)

New -

Exclusion

-

(2) Application of particular accounts procedures to the preparation of

:

None

quarterly consolidated financial statements

(3) Changes in accounting policies and changes or restatement of accounting estimates Changes in accounting policies caused by revision of accounting

standards

Changes in accounting policies other than

Changes in accounting estimates

Restatement of revisions

(NOTE) For further information, please refer to "Changes in Accounting Policies" in (3) Notes on quarterly consolidated financial statements on page 16 of this material.

  1. Number of shares outstanding (Ordinary stock)
  • Year-endshares outstanding (includingTreasury shares)

Number of year-end treasury stocks

Average number of shares during the period

Q1 of fiscal year

Fiscal year

ending March

311,644,285

Shares

ended March

311,644,285

Shares

2022

2021

Q1 of fiscal year

Fiscal year

ending March

14,823,939

Shares

ended March

6,279,914

Shares

2022

2021

Q1 of fiscal year

Q1 of fiscal year

ending March

302,021,058

Shares

ended March

305,295,182

Shares

2022

2021

  • Quarterly financial results are not subject to quarterly review by certified public accountants or auditing firms.
  • Explanation regarding the appropriate use of financial forecasts and others special notes
    • The financial forecasts and other statements related to the future contained in this material are based on information currently available to the Company and on certain assumptions deemed to be reasonable. Actual results may differ materially from these forecasts due to various factors. Please refer to "1. Qualitative information on results for the first quarter ended June 30, 2021, (3) Explanation of consolidated business forecasts and other forward-looking information on page 11 for the assumptions underlying the forecasts and cautionary statements regarding the use of the forecasts.
    • We are scheduling to hold a financial result briefing for institutional investors and analysts on July 29, 2021. We plan to post the content of the briefing and the materials used on the day on its website promptly after the briefing.

3

Table of contents of appendix

1.Qualitative information on results for the first quarter ended June 30, 2021 .....................................................................

5

(1) Overview of business results........................................................................................................................................

5

(2)

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

11

(3)

Explanation of consolidated business forecasts and other forward-looking information.............................................

11

2. Consolidated financial statements...................................................................................................................................

12

(1) Quarterly consolidated balance sheets .......................................................................................................................

12

(2) Quarterly consolidated statements of income and consolidated statements of comprehensive income ...................

14

(3)

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

16

(Notes on going concern assumptions) ........................................................................................................................

16

(Notes on significant changes in shareholders' equity) ................................................................................................

16

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

16

4

1. Qualitative information on results for the first quarter ended June 30, 2021

(1) Overview of business results

Business results for the current fiscal year

[Table 1]YoY comparison

(Unit: Million yen)

Consolidated cumulative first quarter

Consolidated cumulative first quarter

of previous fiscal year

of current fiscal year

YoY basis

(April 1 to June 30, 2020)

(April 1 to June 30, 2021)

Gross merchandise value

95,330

(100.0%)

116,812

(109.5%)

22.5%

Gross merchandise value (excluding other GMV)

95,330

(100.0%)

106,700

(100.0%)

11.9%

Net sales

33,674

(35.3%)

38,866

(36.4%)

15.4%

Gross profit

32,283

(33.9%)

36,924

(34.6%)

14.4%

Operating profit

10,423

(10.9%)

12,591

(11.8%)

20.8%

Ordinary profit

10,473

(11.0%)

12,534

(11.7%)

19.7%

Profit attributable to owners of parent

7,321

(7.7%)

8,731

(8.2%)

19.3%

Figures in parentheses are percentages to gross merchandise value (excluding other GMV)

Under the corporate philosophy of "Inspire the world. Deliver joy every day.", we mainly operate the following businesses: Japan's largest fashion eCommerce website ZOZOTOWN and a fashion media WEAR.

In the consolidated cumulative first quarter of the current fiscal year, it was challenging for the apparel industry, as operation of physical stores of some brands was restricted under the continuous expansion of COVID-19. Under this circumstance, our group has been focusing even stronger on creating ZOZOTOWN more attractive to both users and brands, with the aim of increasing the number of unique users and improving the conversion rate (the purchasing rate of unique users). To maximize sales at ZOZOTOWN, we have implemented measures such as sales events ZOZOWEEK in May 2021 (10 days from May 14 to 23, 2021) and broadcastedTV commercial to attract customers in the period of summer sales. In addition, we proactively welcomed new brands in a wide range of genres to meet diversifying needs of users.

We are also actively strengthening the D2C business and product categories, which we have been developing since the previous consolidated fiscal year. On October 22, 2020, "YOUR BRAND PROJECT Powered by ZOZO", the D2C business that we create fashion brands together with individuals who have brilliant talents and senses, started to sell items under the brands that we launched with the influencers. New popular influencers have also participated for the new product rollout for spring/summer in 2021. As explained in the consolidated financial results for the fiscal year ended March 31, 2021, we have changed our business segments from the current fiscal year. Due to this change, the merchandise value in the D2C business is mostly recorded in outright purchase/production and sales. As the categories enhancement, we are expanding merchandise value of the shoe category in ZOZOTOWN by using the "ZOZOMAT".Of the shoes available in ZOZOTOWN at present, the number of shoes covered by the ZOZOMAT exceeds 3,000 styles, and sales in the shoe category are growing steadily. In addition, on March 18, 2021, we renewed ZOZOTOWN; launched ZOZOCOSME to strengthen the cosmetics category, and ZOZOVILLA, which offers a lineup of domestics and overseas luxury brands. ZOZOCOSME handles more than 500 cosmetics brands both from domestic and overseas at the time of the launch, with a female active member ratio of over 70%, and it aims to expand merchandise value of the cosmetics category in ZOZOTOWN. Furthermore, we have implemented a purchase assist function that recommend the color of the foundation that is closest to the measured skin color using "ZOZOGLASS", a device that can measure skin color with high precision. This enables users to have new purchasing experiences. ZOZOVILLA is a luxury and designer brands zone in ZOZOTOWN, with more than 90 luxury brands domestically and overseas. As we have grown together with fashion ever since our foundation, we have again started the zone with strong mind to provide opportunities for "fashion-lovers".We are expecting improvement of ZOZOTOWN branding through the operation of ZOZOVILLA.

Sales of ZOZOTOWN PayPay Mall Shop have been growing steadily due to the good customer retention of new customers acquired through the large-scale "Super PayPay Festival" and other measures implemented in the second half of the previous consolidated fiscal year, as well as the continuous and active deploy of promotional expenses by Yahoo Japan Corporation which operates PayPay Mall.

Regarding the B2B business, brands are actively continuing to enhance their own eCommerce sites, due to the impact of COVID-19.

5

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

Disclaimer

Start Today Co. Ltd. published this content on 29 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2021 06:06:22 UTC.


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Financials
Sales 2022 165 B 1 465 M 1 465 M
Net income 2022 35 236 M 313 M 313 M
Net cash 2022 62 123 M 551 M 551 M
P/E ratio 2022 30,2x
Yield 2022 1,56%
Capitalization 1 055 B 9 343 M 9 362 M
EV / Sales 2022 6,01x
EV / Sales 2023 5,44x
Nbr of Employees 1 297
Free-Float 36,0%
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ZOZO, Inc. Technical Analysis Chart | 3092 | JP3399310006 | MarketScreener
Technical analysis trends ZOZO, INC.
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 3 520,00 JPY
Average target price 4 327,69 JPY
Spread / Average Target 22,9%
EPS Revisions
Managers and Directors
Kotaro Sawada President, CEO & Representative Director
Koji Yanagisawa Chief Financial Officer, Director & Vice President
Fuminori Hirose Chief Operating Officer & Director
Koji Ono Independent Outside Director
Kazuhiro Hotta Independent Outside Director
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