Worth reading
62In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
-215
¥ million (year-on-year change in operating income)Wording
Conditional
How definitive the wording is.Contents of this document
Supplementary materials to the earnings reportFirst quarter of the fiscal year ending March 202710 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥753 million-19.5%
Operating profit¥-161 million
Net income¥-121 million
Results for the three months of the current quarter
Net Sales
¥753 million
Operating profit
¥-161 million
Profit attributable to owners of the parent
¥-121 million
Full-year earnings forecast
Net Sales
¥4,100 million
Operating profit
¥50 million
Ordinary income
¥100 million
Profit attributable to owners of the parent
¥70 million
EBITDA
¥160 million
Progress against full-year forecast 通期の予想に対して、いまどこまで進んだかの割合です。
Net Sales18.4%
Operating profit△211
Profit attributable to owners of the parent△191
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Gross profit and SG&A expenses are tracking as expected. Net income attributable to owners of the parent is tracking above plan.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Year-on-year revenue decline反動 from a large custom-order project (impact: not disclosed)
Non-operating income included in net incomeForeign exchange gain of ¥36 million
FCFPrimarily due to a loss before income taxes of ¥113 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Although the outlook for the global economy remains uncertain, the company expects the video production and broadcast-related markets to remain firm (numerical assumptions: not disclosed).New initiatives
- Launch of sales of REALMIXA, the flagship product of the VMA business
- Launch of Connectivity Check, an NDI Checker connectivity-testing tool
- API integration with NETGEAR ProAV switches
- Proposal activities for schools in collaboration with NETGEAR and DPSJ
- Leveraging IO Capital’s network and expertise to expand the VMA business
- Active investment in growth areas, including M&A
Key KPIsA metric the company considers important as a management benchmark.
- EBITDA¥-139 million
- ROIC-4.8 %
- FCF¥106 million
- Inventory turnover days167 days
- Market capitalization¥1,905 million
Segment results
VBC
Regional sales
Japan151
North America and Latin America222
Europe48
China272
Other59
Medium-term management plan targets
FY2030
EBITDA¥1,800 million
Market capitalization¥25,000 million
unit_market capitalization¥ million
Fiscal year ending March 2031
ROIC15% or higher
Financial targets
ROIC
Target15% or higher for the fiscal year ending March 2031
Q1 actual△4.8%
Equity ratio
Q1 actual75.1%
Annual Dividend
Forecast for the fiscal year ending March 2027
Annual dividend per share¥15
Acquisition of treasury shares
The company referred to measures such as share repurchases, but the repurchase limit, number of shares and period were not disclosed.| Item | Details |
|---|---|
| Document type | Supplementary materials to the earnings report |
| Fiscal Period Covered | First quarter of the fiscal year ending March 2027 |
| Net Sales | ¥753 million (YoY -19.5%) |
| Operating profit | ¥-161 million |
| Net income | ¥-121 million |
| Results for the three months of the current quarter | Net Sales ¥753 million / Operating profit ¥-161 million / Profit attributable to owners of the parent ¥-121 million |
| Full-year earnings forecast | Net Sales ¥4,100 million / Operating profit ¥50 million / Ordinary income ¥100 million / Profit attributable to owners of the parent ¥70 million / EBITDA ¥160 million |
| Progress against full-year forecast | Net Sales 18.4% / Operating profit △211 / Profit attributable to owners of the parent △191 / EBITDA Not disclosed / ROIC Not disclosed / FCF Not disclosed |
| Self-assessment against the plan | Gross profit and SG&A expenses are tracking as expected. Net income attributable to owners of the parent is tracking above plan. |
| Segment results | VBC Regional sales Japan 151 / North America and Latin America 222 / Europe 48 / China 272 / Other 59 / Profit Not disclosed / GBC Not disclosed |
| Breakdown of Factors Affecting the Change | Year-on-year revenue decline 反動 from a large custom-order project (impact: not disclosed) / Non-operating income included in net income Foreign exchange gain of ¥36 million / FCF Primarily due to a loss before income taxes of ¥113 million |
| Key KPIs | EBITDA ¥-139 million, ROIC -4.8 %, FCF ¥106 million, Inventory turnover days 167 days, Market capitalization ¥1,905 million |
| Assumptions Underlying the Business Outlook | Although the outlook for the global economy remains uncertain, the company expects the video production and broadcast-related markets to remain firm (numerical assumptions: not disclosed). |
| Medium-term management plan targets | FY2030 EBITDA ¥1,800 million / Market capitalization ¥25,000 million / unit_market capitalization ¥ million / Fiscal year ending March 2031 ROIC 15% or higher |
| Financial targets | ROIC Target 15% or higher for the fiscal year ending March 2031 / Q1 actual △4.8% / Equity ratio Q1 actual 75.1% |
| Annual Dividend | Forecast for the fiscal year ending March 2027 Annual dividend per share ¥15 / Interim and Year-End Breakdown Not disclosed |
| Acquisition of treasury shares | The company referred to measures such as share repurchases, but the repurchase limit, number of shares and period were not disclosed. |
| New initiatives | Launch of sales of REALMIXA, the flagship product of the VMA business, Launch of Connectivity Check, an NDI Checker connectivity-testing tool, API integration with NETGEAR ProAV switches, Proposal activities for schools in collaboration with NETGEAR and DPSJ, Leveraging IO Capital’s network and expertise to expand the VMA business, Active investment in growth areas, including M&A |
Items this document does not state (13)
Ordinary incomeGross Profit MarginOperating profit marginSelling, general and administrative expensesUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookPayout ratioCapital expendituresOrders received and order backlogMarket Size / ShareKey points of the Q&A
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.Revenue and operating profit fell below the previous year’s levels due to the反動 from a large custom-order project recorded in the same quarter of the previous year. Because revenue in the core broadcast-related equipment business is concentrated in the fourth quarter, first-quarter profit, EBITDA, ROIC and FCF tend to be weak structurally. Meanwhile, net income included a ¥36 million foreign exchange gain arising from a loan from headquarters to Europe.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
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