Quarterly Consolidated Results

(JPY mn)
  2021
Apr-Jun
2020
Apr–Jun
Turnover (*1) 1,227,081 932,415
Revenue 243,863 206,344
Revenue less cost of sales 218,091 181,697
Organic growth +15.0% (17.3%)
Japan 84,288 74,544
Organic growth +12.0% (12.6%)
International 133,925 107,337
Organic growth +17.0% (20.0%)
EMEA 52,195 38,464
Organic growth +22.0% (20.2%)
Americas 58,793 50,021
Organic growth +15.5% (17.1%)
APAC 22,921 18,841
Organic growth +10.2% (26.4%)
Selling, general and administrative expenses 199,937 174,351
Other income (expenses) 37,415 -3,294
Operating profit 55,569 4,051
Share of results of associates -7 -414
Impairment loss of associates - -
Gain on sales of shares of associates 35 83
Revaluation gain on step acquisition - -
Profit before interest and tax 55,598 3,721
Finance income (costs) -12,517 -1,341
Profit before tax 43,080 2,380
Income tax expense 11,110 851
Profit attributable to non-controlling interests 750 1,090
Profit attributable to owners of the parent 31,219 438
Underlying operating profit (*2) 26,614 15,509
Japan 9,101 7,773
International 18,716 8,884
Central costs and eliminations -1,202 -1,148
Operating margin 12.2% 8.5%
Japan 10.8% 10.4%
International 14.0% 8.3%
Reconciliation from Underlying operating profit to Statutory operating profit 28,954 -11,458
Amortization of M&A related intangible assets -7,688 -7,701
Acquisition costs -203 -378
Share-based compensation expenses related to acquired companies - -661
Share-based compensation expenses issued following the acquisition of 100% ownership of a subsidiary -460 -368
One-off items 37,306 -2,348
Underlying net profit (*3) 16,029 7,945
Reconciliation from Underlying net profit to Statutory net profit 15,189 -7,507
Operating profit adjustments 28,954 -11,458
Impairment loss of associates - -
Gain on sales of shares of associates 35 83
Revaluation gain on step acquisition - -
Gain (loss) on revaluation of earnout liabilities and M&A related put option liabilities -9,369 851
Related income tax expense -4,428 2,811
Others -3 204
  • Note:
    Net profit, Underlying net profit... Excluding attribution to non-controlling interests

Currency

(JPY)
  2021
Jan–Jun
2020
Jan–Jun
JPY/USD 107.7 yen 108.3 yen
JPY/GBP 149.6 yen 136.6 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.

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