Consolidated Financial Results | |||
for the Three Months Ended June 30, 2023 [IFRS] | |||
(Abridged) | July 28, 2023 | ||
Listed Company: | M3, Inc. | Listed Stock Exchange: Tokyo | |
Securities Code: | 2413 | URL: https://corporate.m3.com/en/ | |
Representative: | (Title) CEO | (Name) Itaru Tanimura | |
Contact: | (Title) Corporate Officer | (Name) Hirofumi Oba | TEL: 03-6229-8900 |
Submission of quarterly report: August 10, 2023 | Dividend payment commencement date: - |
Preparation of explanatory materials for quarterly financial result: Yes
Assembly for briefing of quarterly financial results: Yes (for analysts and institutional investors)
(amounts rounded to the nearest million yen)
1. Consolidated Financial Results for the Three Months Ended June 30, 2023 (From April 1, 2023 to June 30, 2023)
(1) Consolidated Operating Results (Cumulative) | (% figures show year-on-year change) | |||||||||||||||||||||||||||||
Net sales | Operating profit | Pre-tax profit | Net profit | |||||||||||||||||||||||||||
Million Yen | % | Million yen | % | Million Yen | % | Million Yen | % | |||||||||||||||||||||||
Three months ended | 57,396 | 0.7 | 18,004 | -3.7 | 19,831 | 0.4 | 13,554 | 0.5 | ||||||||||||||||||||||
June 30, 2023 | ||||||||||||||||||||||||||||||
Three months ended | 56,996 | 22.8 | 18,695 | -24.2 | 19,748 | -20.3 | 13,487 | -20.3 | ||||||||||||||||||||||
June 30, 2022 | ||||||||||||||||||||||||||||||
Profit attributable to | Total | Basic earnings per | Diluted earnings per | |||||||||||||||||||||||||||
comprehensive | ||||||||||||||||||||||||||||||
owners of the parent | share | share | ||||||||||||||||||||||||||||
income | ||||||||||||||||||||||||||||||
Million Yen | % | Million | % | Yen | Yen | |||||||||||||||||||||||||
Yen | ||||||||||||||||||||||||||||||
Three months ended | ||||||||||||||||||||||||||||||
12,414 | 2.4 | 23,049 | -0.9 | 18.29 | 18.27 | |||||||||||||||||||||||||
June 30, 2023 | ||||||||||||||||||||||||||||||
Three months ended | 12,127 | -23.1 | 23,261 | 36.8 | 17.86 | 17.85 | ||||||||||||||||||||||||
June 30, 2022 | ||||||||||||||||||||||||||||||
(2) Consolidated Financial Position | ||||||||||||||||||||||||||||||
Equity | Ratio of equity | Equity per share | ||||||||||||||||||||||||||||
Total assets | Total equity | attributable to | attributable to | attributable to | ||||||||||||||||||||||||||
owners of the | owners of the | owners of the | ||||||||||||||||||||||||||||
parent | parent | parent | ||||||||||||||||||||||||||||
Million Yen | Million Yen | Million Yen | % | Yen | ||||||||||||||||||||||||||
As of June 30, 2023 | 439,640 | 328,780 | 316,817 | 72.1 | 465.07 | |||||||||||||||||||||||||
As of March 31, 2023 | 400,645 | 309,518 | 302,630 | 75.5 | 444.22 | |||||||||||||||||||||||||
2. Dividends | ||||||||||||||||||||||||||||||
Annual Dividends per share | ||||||||||||||||||||||||||||||
First | Second | Third | Fiscal year- | Total | ||||||||||||||||||||||||||
quarter-end | quarter-end | quarter-end | end | |||||||||||||||||||||||||||
Yen | Yen | Yen | Yen | Yen | ||||||||||||||||||||||||||
Fiscal year ended March 31, 2023 | ― | 0.00 | ― | 19.00 | 19.00 | |||||||||||||||||||||||||
Fiscal year ending March 31, 2024 | ― | |||||||||||||||||||||||||||||
Fiscal year ending March 31, 2024 (Forecast) | 0.00 | ― | ― | |||||||||||||||||||||||||||
(Note) 1 | Amendments to forecasts of dividends | recently announced: None | It is to be | |||||||||||||||||||||||||||
2 | Dividend forecast for the fiscal year ending March 31, 2024 is currently undetermined. | |||||||||||||||||||||||||||||
determined after consideration of capital needs and condition of cash flow hereafter. |
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3. Forecast for the Consolidated Fiscal Year Ending March 31, 2024 (from April 1, 2023 to March 31, 2024)
(% figure show year-on-year change for the full year and change in contrast to the corresponding quarter from one year prior for the quarter)
Operating | Profit attributable | Basic | ||||||||||
Net sales | Pre-tax profit | Net profit | to owners of the | earnings | ||||||||
profit | ||||||||||||
parent company | per share | |||||||||||
Million | % | Million | % | Million | % | Million | % | Million | % | Yen | ||
Yen | Yen | Yen | Yen | Yen | ||||||||
2nd Quarter | 120,000 | 6.6 | 32,000 | -11.8 | 32,000 | -15.9 | 22,200 | -14.5 | 21,300 | -11.5 | 31.37 | |
(cumulative) | ||||||||||||
Full Year | 250,000 | 8.3 | 75,000 | 4.2 | 75,000 | 0.9 | 52,000 | 0.0 | 50,000 | 2.0 | 73.65 | |
(Note) Amendments | to forecasts of financial results recently announced: None |
- Notes
- Changes in significant subsidiaries during the period (changes in specific subsidiaries accompanying changes in scope of consolidation): None
- Changes in accounting policies and accounting estimates:
- Changes in accounting policies required by IFRS: None
- Changes in accounting policies other than item (i) above: None
- Changes in accounting estimates: None
- Number of shares issued (common stock)
- Number of shares outstanding at the end of the period (including treasury shares)
As of June 30, 2023 | 678,967,200 | shares |
As of March 31, 2023 | 678,964,100 | shares |
(ii) Number of treasury stock at the end of the period | ||
As of June 30, 2023 | 45,151 | shares |
As of March 31, 2023 | 45,151 | shares |
(iii) Average number of shares during the period (cumulative) | ||
As of June 30, 2023 | 678,920,944 | shares |
As of June 30, 2022 | 678,865,159 | shares |
※ This quarterly financial report is outside the scope of the review procedures for quarterly financial statements.
※ Explanation of proper use of financial results forecasts, and other special matters
(1) Caution regarding statements concerning the future
The forward-looking statements herein are based on information available to the Company and on certain assumptions deemed to be reasonable at the date of publication of this document. They are not intended as the Company's commitment to achieve such forecasts, and actual results may differ significantly due to various factors.
-
Explanatory materials for quarterly financial results
Explanatory materials for quarterly financial results will be posted on our website on Friday, July 28, 2023.
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4. Qualitative Information on Quarterly Results
(1) Explanation of consolidated operating results
In Japan, various services are provided for the 320,000+ physician members via the "m3.com" website designed for medical professionals.
Medical Platform includes services which allow member physicians to proactively receive continuous and frequent information via the "m3.com" platform such as the "MR-kun" family services, marketing research capabilities paneling the physician members, and "QOL-kun" which provides marketing support for non- healthcare related corporates desiring to advertise daily life services to doctors, offering a wide menu of services catering towards various agendas and purposes of our clients. Additionally, provision of next generation sales reps, or "Medical Marketers," and healthcare advertisement agency services are also being expanded via group companies.
Evidence Solution operates businesses such as CRO, which supports clinical development operations and large-scale clinical research, SMO, which supports the overall management and operation of clinical trials at medical institutions conducting clinical trials, and PRO, which provides support for recruiting test subjects and peripheral operations necessary for conducting clinical development and clinical research, etc., through its group companies.
Career Solution provides job search and placement services for physicians and pharmacists through M3 Career, Inc.
Site Solution provides services supporting medical institution operations.
Furthermore, consumer facing services such as the "AskDoctors" (https://www.AskDoctors.jp/) website which connects public users with "m3.com" member physicians for answers to daily health questions, medical professional education such as national examination preparatory services provided by M3 Education, Inc.
In Overseas, the U.S. portal website, "MDLinx," designed for healthcare professionals, continues to expand its member network-based services catering towards pharmaceutical companies, as well as its career support services for physicians and clinical trial support services. In Europe, the "Doctors.net.uk" U.K. portal website is expanding services for pharmaceutical companies, along with pharmaceutical database services offered by the Vidal Group in France, Germany, and Spain, and offering iDoctus, a medical practice mobile app for healthcare professionals through eDoctores Soluciones, S.L., in Spain and Latin America. Business expansion continues in Asia as well.
Additionally, membership and panel participation at websites operated by M3 group starting with Japan, U.S., Europe, China, and Korea, now totals roughly 6.5 million physicians, enabling provision of marketing research services that span across a global scale.
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Consolidated quarterly results for the First quarter (cumulative) is as below. | (Unit: Million Yen) | |||||
Three months ended | Three months ended | (Reference) | ||||
June 30, 2022 | June 30, 2023 | Third quarter | Previous consolidated | |||
(April 1, 2022 to | (April 1, 2023 to | fiscal year | ||||
comparison | ||||||
June 30, 2022, | June 30, 2023, | (April 1, 2022 to | ||||
cumulative) | cumulative) | March 31, 2023) | ||||
Net sales | 56,996 | 57,396 | +400 | +0.7% | 230,818 | |
Operating Profit | 18,695 | 18,004 | -691 | -3.7% | 71,983 | |
Pre-Tax Profit | 19,748 | 19,831 | +84 | % | 74,318 | |
+0.4 | ||||||
Net Profit | 13,487 | 13,554 | +67 | % | 51,983 | |
+0.5 |
(Segment results) | (Unit: Million Yen) | |||||||||||
Three months | Three months ended | |||||||||||
ended | ||||||||||||
June 30, 2023 | Third quarter | |||||||||||
June 30, 2022 | ||||||||||||
(April 1, 2023 to | ||||||||||||
(April 1, 2022 to | comparison | |||||||||||
June 30, 2023, | ||||||||||||
June 30, 2022, | cumulative) | |||||||||||
cumulative) | ||||||||||||
Medical Platform | Segment Net Sales | 20,223 | 21,947 | +1,723 | +8.5% | |||||||
Segment Profit | 8,786 | 8,904 | +118 | +1.3% | ||||||||
Evidence Solution | Segment Net Sales | 7,174 | 6,965 | - | 209 | - | 2.9% | |||||
Segment Profit | 2,235 | 1,885 | -349 | 15.6% | ||||||||
- | ||||||||||||
Career Solution | Segment Net Sales | 5,464 | 5,588 | +124 | +2.3% | |||||||
Segment Profit | 2,830 | 2,663 | 167 | 5.9% | ||||||||
- | - | 25.0% | ||||||||||
Segment Net Sales | 10,220 | 7,663 | 2,557 | |||||||||
- | - | |||||||||||
Site Solution | Segment Profit | 1,448 | 831 | - | 617 | -42.6% | ||||||
Overseas | Segment Net Sales | 14,921 | 15,715 | +794 | +5.3% | |||||||
Segment Profit | 4,040 | 3,679 | 361 | 8.9% | ||||||||
Other Emerging | Segment Net Sales | 702 | 552 | 150 | 21.3% | |||||||
- | ||||||||||||
Businesses | 173 | 126 | - | - | ||||||||
Segment Profit | +47 | - | ||||||||||
- | ||||||||||||
Segment Net Sales | 1,709 | 1,033 | ||||||||||
- | - | - | - | |||||||||
Adjustment | Segment Profit | - | 471 | - | 167 | - | - | |||||
Total | Net Sales | 56,996 | 57,396 | +400 | +0.7% | |||||||
Operating Profit | 18,695 | 18,004 | -691 | -3.7% | ||||||||
- Medical Platform
Segment net sales increased 8.5% to 21,947 million yen and segment profit increased 1.3% to 8,904 million yen, year-over-year, respectively, as a result of solid performance in business areas such as pharmaceutical marketing support and digitalization support-related services for medical sites.
- Evidence Solution
Despite solid performance in CRO and other regular businesses, segment net sales decreased 2.9% year on year to 6,965 million yen and segment profit decreased 15.6% year on year to 1,885 million yen due to lower contributions from clinical trial projects related to COVID infection.
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- Career Solution
Segment net sales increased 2.3% year on year to 5,588 million yen as a result of a recovery trend in job search support services for pharmacists, which more than offset the impact of a year-on-year decline in contributions from the COVID vaccination support project. Segment profit was 2,663 million yen, down 5.9% from the previous year, mainly due to a change in sales mix caused by the decline in the COVID Vaccination Support Project, which had a relatively high margin.
- Site Solution
Despite solid performance in the regular businesses, segment net sales decreased 25.0% year on year to 7,663 million yen and segment profit decreased 42.6% year on year to 831 million yen, mainly due to the impact of lower contributions from vaccine support projects and clinical trial projects for COVID infection.
- Overseas
Segment net sales was 15,715 million yen, higher by 5.3% versus previous year, mainly due to solid
performance in Europe and APAC regions. Despite the increase in net sales, segment profit was 3,679 million yen, lower by 8.9% versus previous year, mainly due to lower contributions from clinical trial projects related to COVID infection in the U.S., as well as the impact of budget compression by global pharmaceutical companies.
- Other Emerging Businesses
Segment net sales was 552 million yen, lower by 21.3% versus previous year, and segment loss was 126 million yen, compared with a segment loss of 173 million yen in the previous year.
Combining all of the above, results for the entire group for the Three Months Ended June 30, 2023, amounted to sales of 57,396 million yen, higher by 0.7% versus previous year, and operating profit of 18,004 million yen, lower by 3.7% versus previous year. Pre-tax profit was 19,831 million yen, higher by 0.4% versus previous year, and net profit was 13,554 million yen, higher by 0.5% versus previous year.
Disclaimer:
This document is a translation of the original Japanese version. The original Japanese version was prepared and disclosed by the Company in accordance with Japanese disclosure format. This document does not contain or constitute any guarantee and the Company will not compensate for any losses or damages arising from interpretations or actions taken based on this document. In the case of any discrepancies between the Japanese original and this document, the Japanese original is assumed to be correct.
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M3 Inc. published this content on 28 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2023 06:18:08 UTC.