FY2021-Q1First statedAnnual report
「As a result, for the first-quarter consolidated cumulative period, revenue was ¥7,757.889 million, up 10.4% year on year, mainly due to an increase in Group companies through M&A. Operating profit increased substantially at domestic subsidiaries as stay-at-home consumption rose with the spread of COVID-19, but declined at overseas subsidiaries as operating rates at their main customer hotels and restaurants fell and provisions were recorded based on a conservative estimate of the impact. Operating profit was ¥215.273 million, down 0.2% year on year. Ordinary income was ¥94.178 million, down 59.0% year on year, after a foreign exchange loss of ¥134.035 million was recorded due to fluctuations in foreign exchange rates at the end of the first quarter. Net income attributable to owners of the parent was ¥323 thousand, down 99.7% year on year.」
While M&A-driven revenue growth and higher profits from stay-at-home consumption at domestic subsidiaries contributed positively, lower demand, provisions and foreign exchange losses at overseas subsidiaries left operating profit nearly flat and reduced ordinary income and net income attributable to owners of the parent.