Mixi, Inc. experienced a significant Q1 fiscal 2020 downturn, with net sales dropping 39.9% to ¥20,780 million and operating income falling 85.2% to ¥1,637 million compared to the previous year.

According to "Consolidated Financial Results for the Three Months Ended June 30, 2019": Mixi, Inc. experienced a significant Q1 fiscal 2020 downturn, with net sales dropping 39.9% to ¥20,780 million and operating income falling 85.2% to ¥1,637 million compared to the previous year.

The Entertainment Business segment was the primary driver of the decline, with revenue contracting from ¥32,709 million to ¥19,969 million year-over-year.

According to "Consolidated Financial Results for the Three Months Ended June 30, 2019": The Entertainment Business segment was the primary driver of the decline, with revenue contracting from ¥32,709 million to ¥19,969 million year-over-year.

The company projects a difficult full fiscal year, forecasting a 30.6% decline in net sales to ¥100,000 million and an 88.7% drop in profit to ¥3,000 million.

According to "Consolidated Financial Results for the Three Months Ended June 30, 2019": The company projects a difficult full fiscal year, forecasting a 30.6% decline in net sales to ¥100,000 million and an 88.7% drop in profit to ¥3,000 million.

Despite operational losses, the company maintains a strong balance sheet with ¥138,393 million in cash and deposits and a high equity ratio of 93.8%.

According to "Consolidated Financial Results for the Three Months Ended June 30, 2019": Despite operational losses, the company maintains a strong balance sheet with ¥138,393 million in cash and deposits and a high equity ratio of 93.8%.

Mixi acquired SFIDANTE Inc. for ¥1,599 million in Q1 to integrate smartphone-photo print services into its 'FamilyAlbum' app, resulting in ¥1,504 million of provisional goodwill.

According to "Consolidated Financial Results for the Three Months Ended June 30, 2019": Mixi acquired SFIDANTE Inc. for ¥1,599 million in Q1 to integrate smartphone-photo print services into its 'FamilyAlbum' app, resulting in ¥1,504 million of provisional goodwill.

The Lifestyle Business segment underperformed during the quarter, recording a segment loss of ¥272 million.

According to "Consolidated Financial Results for the Three Months Ended June 30, 2019": The Lifestyle Business segment underperformed during the quarter, recording a segment loss of ¥272 million.

To align leadership with shareholder interests during this period of decline, the company authorized the issuance of over 400,000 stock options to directors and corporate officers in July 2019.

According to "Consolidated Financial Results for the Three Months Ended June 30, 2019": To align leadership with shareholder interests during this period of decline, the company authorized the issuance of over 400,000 stock options to directors and corporate officers in July 2019.

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Key Insights

Consolidated Financial Results for the Three Months Ended June 30, 2019

mixi~16 min full read

01
Mixi, Inc. experienced a significant Q1 fiscal 2020 downturn, with net sales dropping 39.9% to ¥20,780 million and operating income falling 85.2% to ¥1,637 million compared to the previous year.
02
The Entertainment Business segment was the primary driver of the decline, with revenue contracting from ¥32,709 million to ¥19,969 million year-over-year.
03
The company projects a difficult full fiscal year, forecasting a 30.6% decline in net sales to ¥100,000 million and an 88.7% drop in profit to ¥3,000 million.
04
Despite operational losses, the company maintains a strong balance sheet with ¥138,393 million in cash and deposits and a high equity ratio of 93.8%.
05
Mixi acquired SFIDANTE Inc. for ¥1,599 million in Q1 to integrate smartphone-photo print services into its 'FamilyAlbum' app, resulting in ¥1,504 million of provisional goodwill.
06
The Lifestyle Business segment underperformed during the quarter, recording a segment loss of ¥272 million.
07
To align leadership with shareholder interests during this period of decline, the company authorized the issuance of over 400,000 stock options to directors and corporate officers in July 2019.

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