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FY2012 First-Quarter Earnings Result Briefing Session(April 1st 2012 – June 30st 2012)
mixi Inc.http://mixi.co.jp
TSE Mothers 2121
The opinions and predictions provided in this document are based on the Company’s assessment at the time of preparation and no guarantee is provided in relation to the accuracy of the information contained herein. Please note that actual results and outcomes may differ from those
described herein due to changes in a variety of factors
Copyright (C) mixi, Inc. All rights reserved.
Profit/Loss
2
FY2012/1Q FY2011/1Q YoY change (%)
Sales
Cost of sales
Gross profit on sales
SG&A expenses
Operating profit
Ordinary profit
Net profit
3,539 2,986 18.5%
984 1,014 ▲3.0%
2,554 1,971 29.6%
1,665 1,632 2.0%
889 338 162.5%
871 279 212.2%
562 147 282.4%
Unit:JPY mn
Sales: +18.5% YoY due mainly to increase in charging revenues.Operating profit: +162.5% YoY as revenues rose.
Revenues from charges grew robustly.Smartphone ads showed healthy growth, but feature phone ads declined.
Copyright (C) mixi, Inc. All rights reserved.
Sales trend (Quarterly)
3
2 ! 28 ! 16 !130 ! 135 ! 124 ! 159 ! 170 ! 182 ! 191 ! 198 ! 218 ! 237 ! 256 ! 266 ! 239 !233 ! 234 ! 244 !
508 ! 570 ! 611 ! 724 ! 845 ! 755 ! 805 !1,097 !
1,702 ! 1,857 !1,942 ! 2,034 ! 2,199 !
2,346 ! 2,373 ! 2,245 !
2,628 ! 2,487 !
2,012 ! 2,052 !
2,091 !
1,808 ! 1,426 !
0 !
1,000 !
2,000 !
3,000 !
4,000 !
1Q! 2Q! 3Q! 4Q! 1Q! 2Q! 3Q! 4Q! 1Q! 2Q! 3Q! 4Q! 1Q!
FY2009! FY2010! FY2011! FY2012!
Advertising!
Charges!
Find Job!!
Others!
* From the subject fiscal year, the accounting standards for advertising sales was changed from gross sales basis to a net sales basis
Unit:JPY mn
*SP ads = smartphone ads, FP ads = feature phone ads. We are now using the term FP ads for what we previously called MB (mobile) ads.
Smartphone ads showed healthy growth, but feature phone ads declined.
Copyright (C) mixi, Inc. All rights reserved.
Breakdown of Advertising sales (Quarterly)
4
Unit:JPY mn
1,942 !2,034 !
2,199 !2,346 ! 2,373 !
2,245 !
2,628 !2,487 !
2,012 ! 2,052 ! 2,091 !
1,808 !
1,426 !
0 !
500 !
1,000 !
1,500 !
2,000 !
2,500 !
3,000 !
1Q! 2Q! 3Q! 4Q! 1Q! 2Q! 3Q! 4Q! 1Q! 2Q! 3Q! 4Q! 1Q!
FY2009! FY2010! FY2011! FY2012!
SP ads!
FP ads!
PC ads!
Other ads!
系列1!
Copyright (C) mixi, Inc. All rights reserved.
Advertising topics:Enrichment of Smartphone ads
5
0
50
100
150
200
FY2011/1Q 2Q 3Q 4Q FY2012/1Q
Smartphone ad sales
Unit:JPY mn
<Ordinary menu>e.g., Intel
<Social expanded ads>
Expand
Homeview panelHome panel
We continue to fine-tune our smartphone advertising menu.Number of advertisers continues to show healthy growth.
Robust growth in charges of applications, particularly games.
Copyright (C) mixi, Inc. All rights reserved.
Breakdown of Charges (Quarterly)
6
Unit:JPY mn
233 ! 234 ! 244 !
508 !570 !
611 !724 !
845 !755 !
805 !
1,097 !
1,702 !
1,857 !
0 !
200 !
400 !
600 !
800 !
1,000 !
1,200 !
1,400 !
1,600 !
1,800 !
2,000 !
1Q! 2Q! 3Q! 4Q! 1Q! 2Q! 3Q! 4Q! 1Q! 2Q! 3Q! 4Q! 1Q!
FY2009! FY2010! FY2011! FY2012!
App charges!
Premium!
Other charges!
系列1!
Number of mixi Game titles available for smartphones increasing.Paying UU grew robustly.
Copyright (C) mixi, Inc. All rights reserved. 7
Charges topics:Growing range of smartphone apps
0
175
350
525
700
Sep Oct Nov Dec Jan-12 Feb Mar Apr May Jun
Based on September 2011 = 100
Paying UU from Smartphone (mixi Touch)
0
200
400
600
Sep Oct Nov Dec Jan-12 Feb Mar Apr May Jun
Number of smartphone app titles
2,986
1,183
165
556
133 106
3,539
2,500
3,000
3,500
4,000
4,500
5,000
FY11 1Q sales
Increase in Appli revenues
Increased sales of
smartphone ads
Decline in featurephone advertising
Decline in PC advertising
Others
FY12 1Q sales
Unit:JPY mn
�������� ��������
Copyright (C) mixi, Inc. All rights reserved.
Increase/decrease factors for sales Waterfall diagram (YoY change)
8
3,805
140 92
287
55 166
3,539
2,500
3,000
3,500
4,000
4,500
5,000
FY11 4Q sales
Increase in Appli revenues
Increased sales of
smartphone ads
Decline in featurephone advertising
Decline in PC advertising
Others
FY12 1Q sales
Unir:JPY mn
�������� ��������
Copyright (C) mixi, Inc. All rights reserved.
Increased/decreased factors for sales Waterfall diagram (QoQ change)
9
Copyright (C) mixi, Inc. All rights reserved.
Cost of Sales (Quarterly)
10
Unit:JPY mn
1Q# 2Q# 3Q# 4Q# 1Q# 2Q# 3Q# 4Q# 1Q# 2Q# 3Q# 4Q# 1Q#
FY2009# FY2010# FY2011# FY2012#
Others# 127## 135## 200## 196## 169## 227## 195## 247## 230## 229## 263## 289## 253##
Ad#program#expenses# >## >## 302## 449## 328## 276## 279## 222## 184## 157## 169## 144## 82##
Content#procurement#expenses# 110## 105## 107## 132## 82## 83## 83## 139## 84## 79## 69## 66## 44##
Personnel#expenses#for#development# 130## 134## 134## 140## 146## 156## 179## 197## 220## 235## 288## 308## 330##
DepreciaHon## 84## 86## 102## 110## 80## 92## 104## 115## 94## 107## 114## 115## 74##
Rental#charges# 169## 167## 160## 181## 176## 177## 191## 196## 200## 213## 213## 198## 199##
0##
200##
400##
600##
800##
1,000##
1,200##
1,400##
Copyright (C) mixi, Inc. All rights reserved.
Selling,general and administrative expense (Quarterly)
11
Unit:JPY mn
1Q! 2Q! 3Q! 4Q! 1Q! 2Q! 3Q! 4Q! 1Q! 2Q! 3Q! 4Q! 1Q!
FY2009! FY2010! FY2011! FY2012!
Others! 146 ! 131 ! 176 ! 194 ! 181 ! 224 ! 330 ! 371 ! 409 ! 419 ! 431 ! 430 ! 298 !
Settlement fees! 29 ! 30 ! 34 ! 120 ! 148 ! 146 ! 208 ! 215 ! 196 ! 196 ! 298 ! 407 ! 414 !
Rents on properties! 131 ! 119 ! 107 ! 103 ! 93 ! 94 ! 93 ! 223 ! 133 ! 130 ! 130 ! 132 ! 137 !
Outsourcing! 137 ! 125 ! 133 ! 163 ! 130 ! 215 ! 133 ! 150 ! 176 ! 201 ! 138 ! 164 ! 120 !
Advertising! 11 ! 4 ! 10 ! 606 ! 43 ! 275 ! 193 ! 352 ! 146 ! 7 ! 106 ! 64 ! 22 !
Personnel! 361 ! 369 ! 398 ! 421 ! 458 ! 454 ! 468 ! 497 ! 570 ! 604 ! 687 ! 674 ! 671 !
0 !
200 !
400 !
600 !
800 !
1,000 !
1,200 !
1,400 !
1,600 !
1,800 !
2,000 !
・2Q [1H] earnings forecast
Sales:Progress in 1Q was in line with plan. We amend to lower our estimate of 2Q charges revenues, due mainly to new guidelines for social games.Operating profit:Big increase in 1Q reflects lower costs, as we internalized some operations to increase speed. In 2Q, we expect profit to fall because we project sales will fall.
・FY2012 estimates
We make no changes to our estimates of sales or profit in 2H. We plan to execute a variety of measures and investments.
Copyright (C) mixi, Inc. All rights reserved.
Earnings forecasts
12
FY2012/1Q 2Q [1H] earnings forecast2Q [1H] earnings forecast FY2012 estimateactual previous estimate revised estimate Unchanged
Sales
Operating profit
Ordinary profit
Net profit
3,539 7,000~7,200 6,550~6,750 14,500~15,500
889 850~950 1,200~1,300 2,200~2,800
871 850~950 1,200~1,300 2,200~2,800
562 500~550 750~800 1,300~1,650
Unit:JPY mn
Copyright (C) mixi, Inc. All rights reserved.
Our efforts to build our business
13
Copyright (C) mixi, Inc. All rights reserved. 14*Figures for Monthly Active Users is derived from company data.
No. of Monthly Active Users (MAU): 14.53million (June 2012)
No. of mixi Users
Unit:million users
12.00
14.00
16.00
Apr Jul Oct Jan-10 Apr Jul Oct Jan-11 Apr Jul Oct Jan-12 Apr
14.53
14.7714.80
15.1214.99
15.3815.20
14.9815.0915.1615.23
15.3515.2715.47
15.1515.37
14.55
14.81
14.5414.4614.64
14.4614.4614.30
14.1014.1113.8913.86
12.7012.84
12.5712.43
12.2212.0611.9911.9211.8911.91
11.71
0
2.00
4.00
6.00
8.00
Jul Aug Sep Oct Nov Dec Jan-12 Feb Mar Apr May Jun
7.887.70
7.347.05
6.426.19
5.57
5.064.81
4.484.19
3.80
Copyright (C) mixi, Inc. All rights reserved. 15*Figures for Smartphone Active Users is derived from company data.
Smartphone Monthly Login Users
Unit:million users
Smartphone Monthly Login Users:7.88million(June 2012)
*Figures up to June 2011 for the number of monthly smartphone log-in users are mixi Touch (browser) users only.
0
3.00
6.00
9.00
12.00
Copyright (C) mixi, Inc. All rights reserved.
Growth in smartphone users
16
Jan-10 Mar May Jul Sep Nov Jan-11 Mar May Jul Sep Nov Jan-12 Mar May
Featurephone MAU(January 2007 – August 2010)Smartphone MAU(January 2010 – June 2012)
Growth in smartphones is fast, outpacing 2007-8 growth in feature phones.Unit:million users
Copyright (C) mixi, Inc. All rights reserved.
Our efforts to build our business
17
Strengthening our business foundation
Strengthening our user base
Copyright (C) mixi, Inc. All rights reserved. 18
Strengthening our business foundation
Strengthening our user base
Putting the users first
Introduction of unit system
Copyright (C) mixi, Inc. All rights reserved.
Users first:Product development based on user’s perspective
19
Users are creating many different ways to use mixi.
・Users first: creating our services to reflect users’ request.
・Responding to user’s request input about each product.
・Providing UI/UX optimized for different kinds of users.
Privacy settings Publicly disclosed range settings for mixi voice, an area where many users had expressed
their wishes to our support team.
SurveyRequest Interview
AB testLog analysis etc
Copyright (C) mixi, Inc. All rights reserved.
Unit system: speedy planning, development and operation
20
Implementing unit system for all mixi functions.
・Optimizing systems in all products to meet user needs.
・Developing systems where small teams can exercise their own
judgment and take responsibility, for planning, development and operation of services.
Product unit examples
Voice
Messages
Diary
Games
Mall
Pages
Community
etc
News
Operation
Product unit
DevelopmentPlanning
Users
Responding to user input
・Devices ・Feeds
・Profiles ・Registration ・Search ・Design ・etc
e.g. Coordinating between product units for UI design.
Copyright (C) mixi, Inc. All rights reserved.
Pursuing profits by having each product unit work as a virtual company to deal directly with users
21
CommunityVoice
Pages
Mall
News
etcMessage
Games
Diary
Product unit teamsSupport functions
Users
Home unit teams
Advertising functions
System functions
Management advancement
functions
Copyright (C) mixi, Inc. All rights reserved. 22
Strengthening our business foundation
Advertising
Charges
Other
Strengthening our user base
・Thanks to viral effects, surpassed 1 million times in its first 24 hours.
・10% click-through rate to client sites.Copyright (C) mixi, Inc. All rights reserved. 23
Coca-Cola(Japan)Company,Limited“mello Yello”
“social ads”Diagnostic tie-ups that promote communication with friends.
“social expanded ads”Making possible a rich advertising experience in a smartphone environment.
Sony Marketing (Japan) Inc.
Advertising : Developing advertising products that work well on smartphones
Copyright (C) mixi, Inc. All rights reserved. 24
Charges : expanding smartphone content, strengthening connections
・Key game titles released in April-June. ・Added “Started” Feed on a native Android app.・Added request notice received function on a native iOS app.
“Sengoku BUETER Kai”Klab Inc.
“RAGNA BREAK”CROOZ Inc.
“Sengoku Royal ENISHI”DeNA Co., Ltd.
“Browser Sangokushi mobile”MarvelousAQL Inc.
“Kamen rider Legend”NAMCO BANDAI Games Inc.
テキス
Copyright (C) mixi, Inc. All rights reserved. 25
Strengthening our business foundation
Advertising
Charges
Other
Strengthening our user base
Copyright (C) mixi, Inc. All rights reserved.
Creating new businesses
26
Turning projects developed in-house into businesses ・Launched “Innovation Center”
Feasibility study
Two months~
Three-month KPI, decision whether to green-light
One month
Development
Project moves from its original department to the Innovation Center, for brief,
intensive development
New productDepartmentSubsidiary
Seeking out ideas in-house,
moving quickly to probe
Two weeks – one month
Fast turnaround, from idea to probe
Copyright (C) mixi, Inc. All rights reserved.
Appendix
27
Copyright (C) mixi, Inc. All rights reserved. 28
Company name mixi, Inc.mixi, Inc.mixi, Inc.mixi, Inc.mixi, Inc.
Establishment June 3, 1999
Capital 3.76 billion yen
Location of main office Sumitomo Shibuya First Tower Building 7F, 1-2-20 Higashi, Shibuya-ku, Tokyo, 150-0011Sumitomo Shibuya First Tower Building 7F, 1-2-20 Higashi, Shibuya-ku, Tokyo, 150-0011Sumitomo Shibuya First Tower Building 7F, 1-2-20 Higashi, Shibuya-ku, Tokyo, 150-0011Sumitomo Shibuya First Tower Building 7F, 1-2-20 Higashi, Shibuya-ku, Tokyo, 150-0011Sumitomo Shibuya First Tower Building 7F, 1-2-20 Higashi, Shibuya-ku, Tokyo, 150-0011
Executive officers and directors
CEO and Founder Kenji Kasahara Outside Director Tatsuya Aoyagi
Executive officers and directors
Director Akinori Harada Corporate Auditor Takako KatoExecutive officers and
directors Director Yasuhiro Ogino Corporate Auditor Takayuki SatoExecutive officers and
directors
Outside Director Ichiya NakamuraIchiya Nakamura Corporate Auditor Hiroyuki Wakamatsu
Employees 494 (regular employee only)
Total number of shares issuedTotal number of shares issued 155,106 shares
Major Shareholders(As of March 31, 2012)
Kenji Kasahara 55.11%
Major Shareholders(As of March 31, 2012)
MORGAN STANLEY & CO.LLCMORGAN STANLEY & CO.LLC 3.31%Major Shareholders
(As of March 31, 2012)Japan Securities Finance Co.,Ltd Japan Securities Finance Co.,Ltd 2.57%Major Shareholders
(As of March 31, 2012)Japan Trustee Services Bank, Ltd. (Trust account) Japan Trustee Services Bank, Ltd. (Trust account) Japan Trustee Services Bank, Ltd. (Trust account) 2.12%
Major Shareholders(As of March 31, 2012)
GOLDMAN, SACHS&CO. REGGOLDMAN, SACHS&CO. REG 1.66%
* Besides the above, we own 5,800 shares of treasury stocks (3.74%)* Besides the above, we own 5,800 shares of treasury stocks (3.74%)* Besides the above, we own 5,800 shares of treasury stocks (3.74%)* Besides the above, we own 5,800 shares of treasury stocks (3.74%) As of Jun 30,2012
Company Overview
Social Networking Service (SNS) that allows users to manage a list of friends and acquaintances on a site for one-to-one communication and one-to-many communication (with registered friends, acquaintances, and other users )
Copyright (C) mixi, Inc. All rights reserved.
Service Overview
29
mixi Diary This service allows users to post diaries on mixi, enabling communication through diaries.
Community Functionality for exchange of information within community concerning hobbies, other topics. Keyword-searchable.
mixi Voice(September 2009~) A communication tool that allows users to post “tweets” to easily convey their current status or thoughts to each other.
mixi Games(November 2011~)
Functionality to promote communication among mixi users through games; users can play games with their own friends, or with any other mixi users.
mixi Photo(June 2010~)
This service makes communication fun by allowing the sharing of photos with friends and acquaintances. Friends can also “like” or comment on photos, enhancing communication.
mixi Pages(August 2011~)
Functionality for merchants, brands, artists to deliver information to the public; possible to share information through friends and others.
46.6%! 53.4%!
0%! 25%! 50%! 75%! 100%!
Total users!
M! F!
15-17! 18-19! 20-24! 25-29! 30-34! 35-39! 40-44! 45-49! 50-!
Total users! 8.4%! 8.3%! 27.9%! 21.2%! 13.6%! 9.6%! 5.5%! 2.9%! 2.5%!
0%!
10%!
20%!
30%!
Copyright (C) mixi, Inc. All rights reserved. 30
4.7%
5.5%
40.6%
11.0%
17.7%
6.1%
2.0%
5.1%
7.4%
User Attributes (Changed from Registered Users base to MAU base
Area Age
Gender
Hokkaido
Tohoku
Kanto
Koshinetsu/Hokuriku
Tokai
Kinki
Chugoku/Shikoku
Kyushu/Okinawa
Overseas
Copyright (C) mixi, Inc. All rights reserved. 31
• Many users are switching from regular mobile phones to smartphones that have a large amount of data per page(On smartphones, certain uses through apps are not included in page view counts)
• Shift to a more convenient user interface has made it more difficult to track page views.
Page View Totals
Apr! May! Jun! Jul! Aug! Sep! Oct!Nov!Dec!Jan-1
0!Feb! Mar! Apr! May! Jun! Jul! Aug! Sep! Oct!Nov!Dec!
Jan-11!
Feb! Mar! Apr! May! Jun! Jul! Aug! Sep! Oct!Nov!Dec!Jan-1
2!Feb! Mar! Apr! May! Jun!
PV (FP)! 10.49!11.41!10.99!11.49!11.93!11.44!12.23!16.69!22.48!25.19!23.87!27.97!25.08!26.66!24.27!24.54!24.21!24.28!26.12!25.68!24.47!24.0!21.8!25.0!22.9!24.1!21.7!20.9!20.4!19.1!18.3!18.1!18.1!17.0!15.6!15.5!12.9!12.4!11.0!
PV (PC)! 3.97!4.28!4.07!4.08!4.09!4.52!5.49!5.45!5.13!5.32!4.79!5.33!4.95!5.35!4.89! 4.9! 4.62!4.56!4.51!4.34! 4.1! 4.10!3.80!4.44!3.92!4.11!3.72!3.44!3.38!3.36!3.37!2.88!2.82!2.56!2.33!2.40!2.18!2.21!2.02!
PV (Touch)! 0! 0.26!0.33! 0.4! 0.49! 0.6!0.699!0.9! 0.98!1.07!1.65!1.77!1.86!1.40!1.56!1.78!1.88!1.97!2.02!2.18!2.40!2.40!2.70!2.70!2.90!2.70!
0 !
5 !
10 !
15 !
20 !
25 !
30 !
35 !Unit:billion PV
Copyright (C) mixi, Inc. All rights reserved.
Setting up a proper environment for social games
32
Social Game Platform CommitteeHow we responded on our
platform
“Complete Gacha guidelines”“Complete precedents concerning Gacha etc” “Random pay content rule”
“Guidelines for real money trade measures”Set new terms requesting alignment of app user environment on “mixi app guideline”
“Guidelines for in-game displays”
Scheduled to take effect September 1, 2012We plan to revise and update guidelines and rules as necessary
We have reworked our platform environment in keeping with guidelines from the Social Game Platform Committee.
Copyright (C) mixi, Inc. All rights reserved.
Our initiatives to keep mixi healthy
33
Patrolling with both people and computers
・Unique oversight tools・Bayesian Filter・Patrol is at work 24 hours a day,365 days a year
Zoning of young users・Checking users who use mobile phone filters
・Limiting services to underage users
Educational efforts・Establishment of educational content within the service
・Symposiums, lectures
Establishing an environment with good circulation
Copyright (C) mixi, Inc. All rights reserved.