Quarterly Consolidated Results

(JPY mn)
  2025
Apr–Jun
2024
Apr–Jun
Turnover (*1) 1,489,858 1,594,947
Revenue 338,743 348,031
Net revenue 274,706 292,646
Organic growth (0.7%) +0.2%
Japan 107,012 101,794
Organic growth +5.1% +1.8%
Americas 77,556 86,580
Organic growth (1.6%) (3.7%)
EMEA 64,347 68,100
Organic growth (3.8%) +7.8%
APAC 24,102 29,357
Organic growth (12.7%) (6.2%)
Selling, general and administrative expenses 247,613 268,352
Other income (expenses) -89,064 -13,052
Operating profit -61,972 11,241
Share of results of associates 335 -298
Gain on sales of shares of associates - 8
Profit before interest and tax -61,636 10,950
Finance income (costs) -3,527 -8,931
Profit before tax -65,164 2,019
Income tax expense 13,179 2,616
Profit attributable to non-controlling interests 1,573 -606
Profit attributable to owners of the parent -79,917 9
Underlying operating profit (*2) 33,600 33,156
Japan 20,690 15,195
Americas 19,819 20,746
EMEA 7,251 9,606
APAC -967 612
Central costs and eliminations (*4) -13,194 -13,003
Operating margin +12.2% +11.5%
Japan +19.3% +14.9%
Americas +25.6% +24.0%
EMEA +11.3% +14.1%
APAC (4.0%) +2.1%
Reconciliation from Underlying operating profit to Statutory operating profit -95,572 -21,915
Amortization of M&A related intangible assets -6,164 -8,003
Acquisition costs -6 -126
Share-based compensation expenses issued following the acquisition of 100% ownership of a subsidiary - -66
One-off items -89,401 -13,718
Underlying net profit (*3) 15,904 17,078
Reconciliation from Underlying net profit to Statutory net profit -95,821 -17,068
Operating profit adjustments -95,572 -21,915
Gain on sales of shares of associates - 8
Gain (loss) on revaluation of earnout liabilities and M&A related put option liabilities -5 -1,998
Related income tax expense -468 6,433
Others 225 403
  • Note:
    Net profit, Underlying net profit... Excluding attribution to non-controlling interests

Currency

(JPY)
  2025
Jan–Jun
2024
Jan–Jun
JPY/USD 148.3 yen 152.1 yen
JPY/GBP 192.5 yen 192.4 yen
  • *1
    Turnover represents the gross amounts billable to clients handled by the Group on behalf of clients, with net of discounts, VAT and other sales-related taxes.
  • *2
    Underlying operating profit is a KPI to measure recurring business performance which is calculated as operating profit added with amortization of M&A related intangible assets, acquisition costs and one-off items such as impairment loss and gain/loss on sales of non-current assets.
  • *3
    Underlying net profit (attributable to owners of the parent) is a KPI to measure recurring net profit attributable to owners of the parent which is calculated as net profit (attributable to owners of the parent) added with adjustment items related to operating profit, revaluation of earnout liabilities / M&A related put-option liabilities, tax-related, NCI profit-related and other one-off items.
  • *4
    Underlying operating profit and Operating margin for the January-March period of 2020 was restated with excluding central costs following to establishment of the holding company in January 2020.

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