12.4 q2 english
TRANSCRIPT
COOKPAD Inc.FY2011 H1 Financial Results
December, 2011
Highlights of FY2011 H1
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Both sales and operating income were above the previous forecast and increased y/y.
Sales of Premium Services Business increased by 44.5% y/y. Paid members continue to steadily increase.
Sales of Marketing Support/Advertising Business has recovered after the earthquake.
Summary of Business Conditions of FY2011 H1
Summary of Business Conditions- Exceeded Forecasts -
FY2010 H1 FY2011 H1 y/y
Net sales 1,545 1,817 +17.6%
Operating income 864 878 +1.5%
Ordinary income 856 846 -1.2%
Net income 459 462 +0.6%
(¥ million)
4
0
400
800
1,200
1,600
2,000
FY2010 H1 FY2011 H1
181
216 534
566
1,100761
Business Results of FY2011 H1- Premium Services continue to grow -
(¥ million)
5
Premium ServicesMarketing SupportAdvertising
1,545
1,817
y-y Causes
Premium Services +44.5% Stable growth
Marketing Support -5.7%
After the earthquake, Marketing Support and Advertising Business have recovered.
Advertising -16.2%
After the earthquake, Marketing Support and Advertising Business have recovered.
(¥ million)
60
200
400
600
800
1,000
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
102
7999127109
107110
106
8487
311222
254286
300266
300
256
210200
558542497451402358306237
179129
Premium ServicesMarketing SupportAdvertising
417473
599
716 732
865813
851 844
2012/42010/4 2011/4
972
Net Sales by Business - Highest Sales in Company History -
0
200
400
600
800
1,000
2011/4 H1 2012/4 H1
230
166103
7581
54
501360
(¥ million)
7
y/y Causes
Personnel costs +38.9%Growth in no. of employees(75 in Oct 2010 to 98 in
Oct 2011)
System related costs +48.6% Service expansion
Paid-charge commissions +36.5% Increase in paid
members
Others +38.6%Increase in
recruiting costs, rent accounts, etc.
Personnel costsSystem related costsPaid-charge commissionsOthers
917
655
SG&A increase/decrease
(¥ million)
80
100
200
300
400
500
600
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
111120
223
967492
89
776082
515250
444035
30
231713
503130
272727
31
292719 253247259200189171
219
133123113
Personnel costsSystem related costsPaid-charge commissionsOthers
228 230263
370327
370330
565
451
2012/42010/4 2011/4
466
Breakdown of SG&A for Each Quarter
Business Details
0
4.5
9.0
13.5
18.0
Aug Oct Dec Feb Apr Jun Aug Oct
COOKPAD’s monthly UUs (PCs, Smartphone browsers)
More than 15 million monthly users
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(million)
Device UUs (million)
PCs 13.82
Smartphone Browsers* 1.93
Unique users by device (Oct, 2011)
2011/4 2012/4
*Not including iPhone Apps/Android Apps users
PCs Smartphones
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Population in Japan(A)(million)
COOKPAD Users(B)(million)
B/A
Total 127.9 13.8 11%
All women 65.6 13.4 20%
50- 30.3 1.0 3%
40-49 8.3 2.9 35%
30-39 8.8 5.0 57%
20-29 6.8 3.8 56%
10-19 5.8 0.6 11%
0-9 5.3 0.0 0%
Used by more than 50% of all Japanese women in 20-30s
Source: MIC (Feb. 2011), COOKPAD’s UU on PCs (Oct. 2011), COOKPAD’s Survey (Jul. 2011)
More than 90% of users visit COOKPAD at least once a week
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Over 90% of COOKPAD users buy ingredients by themselves
Platform for spending decisions
Source: COOKPAD’s Survey (Jul. 2011) Source: COOKPAD’s Survey (Jul. 2011)
Less than once a week5.5%Once a week
7.1%
2-3 days a week24.2%
4-5 days a week21.8%
Almost everyday41.4%
Herself/himself
Partner
Child
Parent
Other
0% 20% 40% 60% 80% 100%
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More than 1.08 million registered recipes
Business Updates
150
100
200
300
400
500
600
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
558542497
451402
358306
237179
129
2012/42010/4 2011/4
Sales for each quarter
2010/4 2011/4 2012/4
Paid members(¥ million)
Sales of Premium Services Business increased by 38.6% y/y in FY2011 Q2. Paid members steadily increased after September due to adoption of iPhone’s IAP and Softbank’s payment system.
Premium Services Business
16
Paid members have rebounded after September
Jul Aug Sep Oct
Withdrawals from MOBAREPI increased
Incremental number of paid membersNew members on Smartphone service
increasedAdoption of iPhone’s IAP and Softbank’s payment system
iPhone App
3milliondownloads
17
Android App
1.5milliondownloads
As of Oct. 2011
The smartphone-app users steadily increased
18
Feature development making best use of Smartphone’s usability
You can bookmark up to 4 recipes for each meal
0
50
100
150
200
250
300
350
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
311
222254
286300266
300256
210200
0
50
100
150
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
102
7999
127109107110106
8487
2012/42010/4 2011/4 2012/42010/4 2011/4 19
Marketing Support Advertising
Marketing Support Business/Advertising Business
Sales of Marketing Support Business increased by 3.8% y/y in FY2011 Q2. Sales of Advertising Business declined by 7.0% y/y in FY2011 Q2. After the earthquake, Q1 was a difficult period but Q2 business conditions recovered.
(¥ million) (¥ million)
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Marketing Support
Sales for existing customers increased
0
80
160
240
320
400
Q1 Q2 Q3 Q4 Q1 Q2
85
2887638635
227194167224214230
Existing customersNew customers(¥ million)
266300 286
254222
311
2011/4 2012/4
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CTR26.5% on the project page
New cooker’s marketing
High visibility
Tie-up with retailers
Collaboration of Web and shop front
Asahi Beer x Nisshin Foods
Support of shop-front campaign
New successful projects in recipe marketing
FY2011 forecast
FY2011 H1Previous forecast
FY2011 H1Result
Budget progress for FY2011 H1
FY2011Forecast
Budget progress for FY2011
Net sales 1,730 1,817 105.0% 4,000 45.4%
Operating income 761 878 115.4% 1,872 46.9%
Ordinary income 736 846 114.9% 1,822 46.4%
Net income 405 462 114.1% 1,002 46.1%
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(¥ million)
New Business
Grocery-shopping Support Business
Buy ingredients CookSearch
recipesPost recipes
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New Business- Omisekurabe (Launched Sep, 2011)- Yasai-Bin (Launced Dec, 2011)
25
“Omisekurabe” (Online-supermarket Comparison Service)
“Yasai-Bin” (Vegetable Delivery Service)
26
Linkage of Cookpad member and supermarket point card accounts
Service integration and shop-front promotion based on purchasing
Seven supermarket chains (462 stores) agreed on collaboration
27
Users
Retailers Food manufacturers
COOKPAD
Platform for Spending Decisions
9.97MM × ¥ 60,000 × 12months
= ¥7.2trillion
avg. food budgetavg. monthly users in 11/4
Source: MIC’s family budget statistics (2010), COOKPAD’s avg. UU (2011/4)
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Connect people to share great experiences around cooking.
- 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.
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