Financial

Consolidated Financial Results for the Nine Months Ended December 31, 2019

1 February 202010 pages3,696 words

Summary

Mixi, Inc. reported a significant downturn in financial performance for the nine months ended December 31, 2019, characterized by a sharp contraction in both revenue and profitability. Net sales fell 31.7% year-over-year to ¥72,364 million, while operating income plummeted 88.6% to ¥3,076 million. Profit attributable to owners of the parent saw the most drastic decline, falling 97.5% to just ¥426 million. These results reflect a challenging period for the company’s core segments, particularly the Entertainment Business, where segment profit dropped from ¥34,297 million to ¥13,267 million. The geographic scope of these results is centered on Japan, covering the first three quarters of the 2019 fiscal year. The data highlights a transition in corporate strategy, as the company aggressively pursued acquisitions to diversify its portfolio into the sports and sports betting industries. Key transactions during this period included the acquisition of Chiba Jets Funabashi Inc., a professional basketball team, for ¥1,019 million, and Net Dreamers Co., Ltd., a sports media operator, for ¥15,000 million. These moves contributed to a substantial increase in goodwill, which rose to ¥18,481 million by the end of the period. Despite the current earnings pressure, the company maintains a strong consolidated financial position with total assets of ¥194,531 million and an equity ratio of 87.4%. Cash and deposits remained substantial at ¥124,196 million, though this was a decrease from the previous year-end due to investment activities and dividend payments. Looking ahead, the full-year forecast was revised downward, with net sales expected to reach ¥103,000 million and profit attributable to owners of the parent projected at ¥4,000 million, representing an 84.9% decrease from the prior fiscal year.

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