DeNA Reports Fourth Quarter and Fiscal Year 2012 Financial Results

Thu May 9, 2013 2:30am EDT

* Reuters is not responsible for the content in this press release.

TOKYO, May 9, 2013 (GLOBE NEWSWIRE) -- DeNA Co., Ltd. (Tokyo: 2432), the global leader in mobile Internet services, today announced its financial results for the quarter and the fiscal year ended March 31, 2013. DeNA reported quarterly revenue of 52.3 billion yen (approximately $528 million*), 22 percent higher than the same quarter last year, and operating profit of 18.2 billion yen ($184 million), 3 percent higher than the same quarter of the previous year. DeNA concluded a successful fiscal year with record-high 202.5 billion yen in revenue ($2.04 billion) and 76.8 billion yen in operating profit ($775 million), up 38 and 28 percent respectively.

"DeNA's full-year revenues and operating profits increased for the ninth consecutive year, representing growth every year since the company went public," said Isao Moriyasu, President and CEO of DeNA. "We will continue to pursue aggressive growth worldwide for our mobile Internet business, especially in the mobile social games sector."

Financial Summary
(Billion yen)
Item Q4
FY2012
Q4
FY2011
YoY
Change
FY2012 FY2011 YoY
Change
Revenue 52.3 42.8 22% 202.5 146.5 38%
Operating profit 18.2 17.6 3% 76.8 60.3 28%
Profit before tax 20.6 17.9 15% 79.2 60.3 31%
Profit for the period
attributable to
owners of the parent
12.1 9.4 29% 45.6 31.1 46%
Note: DeNA adopted International Financial Reporting Standards (IFRS) from Q1 FY2012. Throughout this press release all references to FY2011 figures have been restated in accordance with IFRS.

Fourth Quarter FY2012 Business Highlights

  • MobaCoin consumption in Japan was 58.3 billion yen ($588 million), 2.5 percent lower than the previous quarter.
  • Overseas MobaCoin consumption showed strong and steady quarter-to-quarter increase, approaching $70 million.
  • Increased user engagement drove monetization growth. As a result, Mobage titles occupied top ranks in U.S. Google Play's top-grossing chart.
  • DeNA and Nexon formed a global business alliance to bring new Nexon-developed games to Mobage networks.
  • Groovy, DeNA's new music player app was launched in Japan.

FY 2012 Business Highlights

  • MobaCoin consumption in Japan was 228.5 billion yen ($2.31 billion), 41 percent higher than the previous fiscal year.
  • Overseas MobaCoin consumption grew substantially with strong and steady growth every quarter during the fiscal year with hit titles such as Rage of Bahamut, MARVEL: War of Heroes and Blood Brothers.
  • Successfully addressed the regulatory matters concerning "complete gacha" quickly and  maintained our growth of Mobage business in Japan during that time.
  • MobaCoin consumption on smartphones exceeded feature phones in Japan in September 2012, proving that the transition of Mobage users onto smartphones has been a success.
  • Three Mobage titles dominated the top three spots on U.S. Google Play's top-grossing chart in December 2012.
  • Launched two new mobile Internet services, Comm and Groovy.
  • Formed or strengthened multiple business alliances with key industry players to either develop new games or provide our games to a broader user base outside Mobage.
  • Maintained strong financial results through enhanced game operations of existing first-, second- and third-party titles.

Business Strategy for Fiscal 2013

  • Aggressively launch many native-app titles in Japan, utilizing knowledge accumulated from Mobage West's success.
  • Form alliances with developers, specializing in both browser and app-based games, to launch an increasing number of new titles targeting multiple genres.
  • Continue to develop and launch new mobile Internet services in addition to mobile games.
  • Turn Mobage West into a profitable operation during the summer.

First Quarter FY2013 Forecast                                                                                     

  • Revenues are projected to be 53.9 billion yen.
  • Operating profit is projected to be 17.4 billion yen.
  • Profit for the period attributable to owners of the parent is projected to be 9.7 billion yen.

* Dollar values reported were translated at 99.13 Japanese yen per U.S. dollar, which was the Telegraphic Transfer Middle Rate (TTM) per the Bank of Tokyo-Mitsubishi UFJ as of May 7, 2013.

About DeNA

DeNA is a global leader in mobile Internet services focused on social games and e-commerce. DeNA operates the Mobage platform, which offers freemium mobile social games developed by DeNA and third-party developers on multiple user networks localized for the West, Japan, Greater China and Korea. Founded in 1999, DeNA is headquartered in Tokyo with offices and development studios in 10 countries and regions. DeNA Co., Ltd. is listed on the Tokyo Stock Exchange (2432). For more information, visit: dena.com

The forecast data contained in this press release have been determined based on the information available as of May 9th, 2013, but may contain an element of uncertainty. Please be aware that the actual performance data and similar information are subject to influence from diverse factors, and may differ from the forecasts presented herein.

Consolidated Financial Statements
Consolidated Statement of Financial Position
      (Millions of yen)
  As of
April 1, 2011
As of
March 31, 2012
As of
March 31, 2013
Assets      
Current assets      
Cash and cash equivalents 61,535 54,890 67,337
Trade and other current receivables 22,827 38,997 45,946
Other current financial assets 157 1,079 1,123
Other current assets 1,712 2,583 4,421
Total current assets 86,232 97,548 118,827
       
Non-current assets      
Property and equipment 1,247 1,801 4,135
Goodwill 28,619 35,245 39,437
Intangible assets 2,269 5,295 8,719
Investments accounted for using the equity method -- 349 8,044
Other non-current financial assets 3,904 9,552 8,702
Deferred tax assets 4,315 3,377 6,887
Other non-current assets 12 57 34
Total non-current assets 40,366 55,675 75,957
Total assets 126,598 153,223 194,784
       
      (Millions of yen)
  As of
April 1, 2011
As of
March 31, 2012
As of
March 31, 2013
Liabilities and equity      
Liabilities      
Current liabilities      
Trade and other current payables 12,995 25,738 30,034
Income tax payables 21,229 15,197 21,645
Other current financial liabilities 5,163 6,766 8,743
Other current liabilities 5,759 6,969 9,461
Total current liabilities 45,146 54,670 69,882
       
Non-current liabilities      
Non-current provisions 214 232 949
Other non-current financial liabilities 12 11 15
Other non-current liabilities 35 265 262
Total non-current liabilities 261 508 1,226
Total liabilities 45,406 55,178 71,108
       
Equity      
Common stock 10,392 10,397 10,397
Capital surplus 10,419 11,189 10,361
Retained earnings 61,818 87,941 127,927
Treasury stock (5,225) (15,626) (34,724)
Other components of equity 994 776 5,298
Total equity attributable to owners of the parent 78,398 94,677 119,259
Non-controlling interests 2,793 3,369 4,416
Total equity 81,191 98,045 123,676
Total liabilities and equity 126,598 153,223 194,784
     
     
Consolidated Income Statement    
    (Millions of yen)
  Fiscal year ended
March 31, 2012
Fiscal year ended
March 31, 2013
Revenue 146,501 202,467
Cost of sales (29,553) (56,604)
Gross profit 116,948 145,863
Selling, general and administrative expenses (56,885) (69,075)
Other income 508 603
Other expenses (308) (551)
Operating profit 60,262 76,840
Finance income 1,383 2,549
Finance costs (1,271) (273)
Share of profit (loss) of associates accounted for using the equity method (25) 99
Profit before tax 60,349 79,215
Income tax expense (28,734) (32,481)
Profit for the year 31,615 46,735
     
Attributable to:    
Owners of the parent 31,137 45,581
Non-controlling interests 478 1,153
Profit for the year 31,615 46,735
     
    (Yen)
Earnings per share    
Basic earnings per share 213.13 333.34
Diluted earnings per share 212.01 332.35
CONTACT: Investor Contact:

         Mark Johnson
         ir-contacts@dena.com

         Media Contacts:

         DeNA (Japan)
         Tomoyuki Akiyama
         press@dena.com

         DeNA (US)
         Lisa Revelli
         press@dena.com
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