2014.12q1jp 0903en final · 2014. 9. 8. · 2014 (consolidated from fy2014 q2) 2. ... q1 q2 q3 q4...
TRANSCRIPT
FY2014 Q1 Financial ResultsSeptember, 2014
Cookpad Inc.
Highlights of FY2014 Q1!■ Both Premium services business and Ad business grew well, Net sales increased by 29.3% y/y, Operating Income increased by 20.2% y/y (Non-consolidated basis) !■ Paid members increased at a steady pace, growing to over 1,400,000 members. !■ Smartphone Ad grew significantly. !■ Focus on EC business. Acquired online shop of clothes, kitchen and tableware “Angers” in August, 2014 (consolidated from FY2014 Q2)
2
Consolidated Business Results
May 1, 2014~July 31, 2014
Major consolidated companies
4
Company Description of business
ALLTHECOOKS, LLCRecipe service in English
COOKPAD SPAIN, S.L.Recipe service in Spanish
DAPUR MASAK PTE. LTD.Recipe service in Indnesian
International
Japan
Company Description of business
Coach United Inc.Market place of private lessons
■ No change from April, 2014
Differences between consolidation/non-consolidation
5
Non-consolidated Operating Income
1,013 million yen
Goodwill amortization109 million yen Other
93 million yen
811 million yen
Consolidated Operating Income
FY2013 1Q
(Non-consolidated)
FY2014 1Q
(Non-consolidated)
y/y
Net Sales 1,539 1,990 +29.3%
Operating Income 843 1,013 +20.2%
Ordinary Income 827 968 +17.1%
Net Income 517 621 +20.1%
(¥ million)
FY2014 1Q
(Consolidated)
2,052
811
812
446
Summary of Income Statement
6
※1 Started consolidated balance sheet from FY2013 Q2 and started consolidated income statement from FY2013 Q3. ※2 Differences between operating income and ordinary income are mainly from allowance for investment loss.
※2
※1
Operating Income before goodwill amortization
843 1,013 +20.2% 921
※1
Non-consolidated Business Results
May 1, 2014~July 31, 2014
0
500
1,000
1,500
2,000
2,500
FY2013 1Q FY2014 1Q
35
1 764
660
1,190877
Premium servicesAdvertisingOthers
(¥ million)
1,990+29.3%
Net Sales comparison to past quarter result
Change Factors
Premium Services
Steady growth of paid members
Advertising Growth of Smartphone ads
OthersBig data for food trend
“Tabemiru” and
Recipe books
8
1,539
Net Sales trend by Business
9
(¥ million)
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
35
13
221 764
705
564574660
620485
452420480
390413302354414410
373 1,1901,1141,019956877816775727681638582558542497451402358
Premium servicesAdvertisingOthers
732
865813 851 844
FY2012
972 9731,1031,119
1,259
1,437
1,539
FY2011 FY2013
1,533
1,180
1,587
FY2010
1,9901,834
FY2014
0
200
400
600
800
1,000
FY2013 1Q FY2014 1Q
220
169121
2651
32 136
103
435341
Personnel costsPaid-charge commissionsCloud-service usage feesPromotion feesOthers
SG&A comparison to past quarter result
10
(¥ million)
Change Factors
Personnel costs
Growing number of employees (132 in Jul. 2013 to 178 in Jul. 2014
17 new graduates in April, 2014)
Paid-charge commissions Increase in paid members
Cloud-service usage fees Stable
Promotion fees Shop affiliates increased
Others Increase various costs due to service expansion
965
673
■ Maintain Operating margin ratio over 50%, although SG&A increased.
SG&A trend
11
(¥million)
0
100
200
300
400
500
600
700
800
900
1,000
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
220
192
180182
169150
132138135133129105116
220
937189
12165
70462613
20172
5147
38363231
2625283428503130
272727
136127
11110710395
8780726757515250
444035 435449364359341365
292281285300265259251262203191174
Personnel costsPaid-charge commissionsCloud-service usage feesPromotion feesOthers
327 330370
565
451 466 482535 522
FY2011 FY2012 FY2013
544 559
656 673
FY2014
733765
FY2010
882
965
Operating Income trend
12
(¥ million)
0
200
400
600
800
1,000
1,200
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
FY2011 FY2012 FY2013 FY2014FY2010
394
470 486
275
386
491 481
569 563
769
691
620
843787
810
1,013935
Business Details - Users
13
The number of monthly users
0.00
5.00
10.00
15.00
20.00
25.00
30.00
35.00
40.00
45.00
Jul Oct Jan Apr Jul Oct Jan Apr Jul
0.450.440.43
0.36
0.310.10
0.961.071.17
1.43
1.482.19
2.553.45
4.28
7.459.01
8.147.54
6.676.53
5.764.97
3.83
19.8817.76
16.5614.2911.00
9.888.706.805.31
16.1815.7315.0215.9514.8114.0613.8814.1712.69
PCSmartphone browsersSmartphone appsFeature phonesOthers
FY2012
(million)
※1 The number of monthly users in counted on either a browser basis or device basis. ※2 New measurement method has applied for smartphone apps usage since July, 2014.
29.4130.90
32.77 34.29
Smartphone users 27.33 million
39.59
FY2013
41.3444.93 million
26.13
y/y +31.1%
44.04
FY2014
※2
※1
More than 1.7 million recipes
14
(million)
1.0
1.1
1.2
1.3
1.4
1.5
1.6
1.7
1.8
Jul Oct Jan Apr Jul Oct Jan Apr Jul
1.271.33
1.381.45
1.511.57
1.631.71
1.78
FY2012
Registerd recipes
FY2013 FY2014
Our principle is “User first”
15From “2nd research of Japanese Customer Satisfaction Index FY2014”
by Service Productivity & Innovation for Growth
■ Ranked as the most satisfied internet service in Japan for second consecutive year.
Premium Servies Business
16
0
200
400
600
800
1,000
1,200
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
1,1901,114
1,019956
877816
775727
681638
582558542497
451402
358
FY2012FY2011
Sales trend (¥ million)
FY2013
■ Growing to over 1,400,000 members
FY2014FY2010
Paid members
300000.0
600000.0
900000.0
1200000.0
1500000.0
FY2011 FY2012 FY2013FY2014FY2010
0
30,000
60,000
90,000
120,000
150,000
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1FY2011 FY2013
One time effect
Number of paid members
17
■ Steady growth by improving subscription process and shop affiliates.
Incremental increase in number of paid members
FY2012
One time effect
Temporary decreased due to the shift for smartphones
FY2014
Advertising
18
420480
390413
302
452485
620
FY2013 FY2014
Sales trend by products(¥ million)
0
100
200
300
400
500
600
700
800
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
264184
143131
109152
121117102
12672
18
19266266
192163
209
181
1451057687
88
81
61
233254228279341
286218229242265228
311222
Tie-upsBannersNetwork Ads
574 564
660620
485
420452480
390413
302
705
FY2011 FY2012
764
0
50
100
150
200
250
300
350
Q1 Q2 Q3 Q4 Q1
174
FY2013
Smartphone ads
19
■ Smartphone ads grew significantly
Sales of Smartphone ads(¥ million)
FY2014
64
303 million yen
Topics
More focus on EC business
21
■ Having started from the vegetable delivery serves, now we sell a broader range of consumer products to make everyday cooking fun.
Fresh food delivery Cookpad flash sales
Renewed “vegetable delivery service” to “fresh food delivery service”
Opens occasionally
Angers
Online shop of cloths, kitchen and tableware
Table-ware
Kitchen-ware
ClothesVegetable Meet Beverage •••
Acquired online shop “Angers”
22
■ Acquired online shop of clothes, kitchen and tableware “Angers” in August, 2014. ■ Leverage the overlapped customers to growth sales on the own site “Angers”
Malls on internet
The own site “Angers”
Over 40 million usersPercentage of women is more than 80% (Of those, 20s-40s is more than 80%)×
Percentage of women is more than 90% (Of those, 20s-40s is more than 80%)
More growth on own site
“Angers”The own site “Angers”
Malls on internet
“Supermarket Special Offers”
23
■ Deliver special offers from your nearby supermarkets. ■ The market of flyer in newspaper maintains its scale although the newspaper reach has been declining significantly. The needs of “Supermarket special offers” grows up.
!500 billion yen
0
10
20
30
40
50
60
70
80
FY1995 FY2000 FY2005 FY2010
20s30s40s
(%)
The newspaper reach trend
(past 15 years)
The market of flyer in newspaper (past 5 years)
“Supermarket Special Offers”
0
100
200
300
400
500
600
FY2009 FY2010 FY2011 FY2012 FY2013
(¥ bilion)
※1 Feb. 2014, ”Advertising expenses in Japan (FY2013) by DENTSU INC. ※2 Feb. 2011, “Report of survey of national living hours FY2010” by NHK (Japan Broadcasting Corporation)
※1 ※2
Number of registered supermarkets and users
24
.5
1.0
1.5
2.0
2.5
3.0
May Jul Sep Nov Jan Mar May Jul
Registered users
Jul. 2014
over 2.5million
FY2013
(million)
※1 From special offers information service “SHUFUMO” ※2 From the research by New Supermarket Association Japan
Special offers 10,000 retailers
Real-time special offers
6,500 retailers
20,000 Supermarkets in Japan ※2
※1
FY2014
Apr. 2014 4,500 retailers
Registered supermarkets
New trial of “Supermarket Special Offers”
25
■ User can get discount by showing “Supermarket Special Offers” coupon at cashier. !■ The service is available for the shops using “Special offers in real time” especially effective to sell fresh food in real time. !
Redesigned Cookpad logo for Global
26
■ Redesigned Cookpad logo for Global launch began in FY2014. ■ Uppercase to lowercase letters with more casual and friendly tone.
Progress of Global recipe services
27
■ Standardizing Global recipe services to Cookpad brand.
Spain
Indonesia
Make everyday cooking fun
- This document includes some forecasts, which are based on currently available information. It may contain an element of uncertainty. Actual performance data and similar information may differ due to diverse factors. !- We appreciate your understanding. When producing this document, we were careful not to include errors or omissions, but the authenticity and integrity of the information are not guaranteed.