Quarterly Consolidated Results

(JPY mn)
  2022
Jul–Sep
2021
Jul–Sep
Turnover (*1) 1,397,361 1,322,683
Revenue 309,080 281,834
Net revenue 275,409 255,826
Organic growth (4.7%) +27.8%
Japan 103,482 116,501
Organic growth (15.1%) +49.7%
International 172,095 139,231
Organic growth +3.4% +13.4%
EMEA 62,304 50,724
Organic growth +9.2% +12.9%
Americas 81,059 62,646
Organic growth +0.7% +16.3%
APAC 28,716 24,640
Organic growth (1.1%) +7.6%
Selling, general and administrative expenses 244,084 205,118
Other income (expenses) -6,644 76,788
Operating profit 24,679 127,496
Share of results of associates 1,327 304
Impairment loss of associates -681 -
Gain on sales of shares of associates 326 -
Profit before interest and tax 25,652 126,980
Finance income (costs) -6,802 -9,851
Profit before tax 18,849 117,128
Income tax expense 1,858 49,838
Profit attributable to non-controlling interests 1,059 1,649
Profit attributable to owners of the parent 15,932 65,641
Underlying operating profit (*2) 40,489 60,214
Japan 20,213 38,928
International 22,641 22,595
Central costs and eliminations -2,365 -1,308
Operating margin 14.7% 23.5%
Japan 19.5% 33.4%
International 13.2% 16.2%
Reconciliation from Underlying operating profit to Statutory operating profit -15,809 67,281
Amortization of M&A related intangible assets -7,320 -7,276
Acquisition costs -520 -304
Share-based compensation expenses issued following the acquisition of 100% ownership of a subsidiary 177 -421
One-off items -8,146 75,283
Underlying net profit (*3) 26,601 36,751
Reconciliation from Underlying net profit to Statutory net profit -10,670 28,889
Operating profit adjustments -15,809 67,281
Impairment loss of associates -681 -
Gain on sales of shares of associates 326 -
Gain (loss) on revaluation of earnout liabilities and M&A related put option liabilities -3,299 -4,925
Related income tax expense 8,316 -33,515
Others 478 48
  • Note:
    Net profit, Underlying net profit... Excluding attribution to non-controlling interests

Currency

(JPY)
  2022
Jan–Sep
2021
Jan–Sep
JPY/USD 128.0 yen 108.5 yen
JPY/GBP 160.6 yen 150.3 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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