Financial

Notice Concerning Non-Operating Income Recorded for Fourth Quarter FY2016 and Revision of Earnings Forecasts for FY2016

9 February 20172 pages510 words

Summary

KLab Inc. has revised its consolidated earnings forecasts for the fiscal year ending December 31, 2016, following the recording of significant non-operating income during the fourth quarter. The primary driver for this adjustment is a 460 million yen foreign currency exchange profit resulting from the re-evaluation of foreign currency assets. This gain effectively reduced the group’s total foreign currency exchange losses for the full fiscal year to 388 million yen. The revised projections indicate a mixed financial performance across different metrics. Revenue expectations increased by 1.6 percent to 19.599 billion yen, driven by the strong performance of Love Live! School Idol Festival in both Japanese and English markets, alongside the global success of Bleach: Brave Souls. However, operating profit forecasts were lowered by 7.7 percent to 1.274 billion yen due to rising outsourcing and subcontracting costs associated with joint-development projects and event business expenses. Despite the boost in ordinary income, which rose 58.7 percent to 830 million yen because of the exchange gains, the net loss attributable to owners of the parent widened. The projected net loss increased from 655 million yen to 814 million yen, representing a 24.3 percent decline from previous estimates. This downward revision is attributed to one-time costs, including the liquidation of the offshore development center KLab Cyscorpions, Inc., and valuation losses on investment securities. These adjustments reflect the company's strategic restructuring and the impact of volatile currency markets on its international operations during the 2016 calendar year.

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