Notice of the Postponement of Announcement of the Financial Results for the First Quarter of the Fiscal Year Ending December 31, 2020
Apr 24, 2020
- IR-Timely Disclosure
Dentsu Group Inc. (Tokyo: 4324; ISIN: JP3551520004; President & CEO: Toshihiro Yamamoto; Head Office: Tokyo; Capital: 74,609.81 million yen; hereinafter “the company”) announces today that the company has decided to postpone the announcement of consolidated financial results for the first quarter of the fiscal year ending December 31, 2020.
1. Reasons for postponing the announcement of consolidated financial results for the first quarter (Q1)
Dentsu Group consists of approximately 1,000 companies, comprising approximately 130 companies in Japan and 900 companies in more than 145 countries and regions outside Japan. As reported, the spread of the COVID-19 has had a major impact on worldwide society and the economy. This, in turn, has caused some delays to accounting procedures for the consolidation of the Group’s first quarter results.
2. Future plans
The announcement of our Q1 FY2020 financial results, which was scheduled for mid-May 2020, is postponed. The official date of Q1 financial result announcement will be announced as soon as it is fixed, although it is tentatively considered to be late May.
As of December 31, 2019, the company had JPY 414.0 billion in cash and cash equivalents on a consolidated basis, as well as the total amount of JPY 326.7 billion of unused credit lines including commitment line agreements with several financial institutions and an issuable amount of commercial paper (CP). Additionally, we are in discussion with multiple banks to establish incremental credit lines in case it is required.
The impact from the factors including the spread of and responses to the COVID-19 and the impact of the postponement of the Tokyo 2020 Olympic and Paralympic Games on Dentsu Group’s consolidated financial position and consolidated operating results for the fiscal year ending December 31, 2020 is under assessment. The business environment on which the full-year consolidated financial forecast announced on February 13, 2020 was based has changed significantly and we will announce the revised financial forecast as soon as we recognize the impact from factors mentioned above.
About the Dentsu Group
Led by Dentsu Group Inc. (Tokyo: 4324; ISIN: JP3551520004), a pure holding company established on January 1, 2020, the Dentsu Group encompasses two operational networks: Dentsu Japan Network, which oversees Dentsu’s agency operations in Japan, and Dentsu Aegis Network, its international business headquarters in London, which oversees Dentsu’s agency operations outside of Japan.
With a strong presence in over 145 countries and regions across five continents and with more than 66,000 dedicated professionals, the Dentsu Group provides a comprehensive range of client-centric integrated communications, media and digital services through its ten global brands—Carat, Dentsu, dentsu X, iProspect, Isobar, mcgarrybowen, Merkle, MKTG, Posterscope and Vizeum—as well as through Dentsu Japan Network companies, including Dentsu Inc., the world’s largest single brand agency with a history of innovation. The Group is also active in the production and marketing of sports and entertainment content on a global scale.
Dentsu Group Inc. website URL: https://www.group.dentsu.com/en/
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