■Performance trends of Sumasapo ＜9342＞

1. Summary of financial results for the fiscal year ending 2024/9

Financial results for the fiscal year ended 2024/9 were sales of 2674 million yen, up 37.2% from the previous fiscal year, operating income of 108 million yen (loss of 133 million yen in the previous fiscal year), ordinary profit of 112 million yen (loss of 143 million yen), and net income of 106 million yen (loss of 147 million yen). The company revised its full-year performance plan upward on 2024/8/9, but both items were overexceeded.

Sales expanded drastically due to strong trends in the two main services, such as strong sales of the main “Sumasapo Thank You Call,” and an increase in the number of companies that have introduced “Totono.” In addition to the effects of an increase in sales, operating income turned into a surplus due to reviews of transaction conditions and improvements in business efficiency through various alliances. Note, the introduction of the “Suma Support Thank You Call” to Daito Construction Partners Co., Ltd. was delayed in the previous fiscal year, and although the timing of sales recording was delayed, losses were recorded because the contract system was strengthened ahead of time.

2. Performance Trends by Service

(1) “Suma Support Thank You Call”

Sales of “Sumasapo Thank You Call” were 1977 million yen (results for the previous fiscal year were not disclosed). The service uses the number of contacts and unit price as KPI*. The number of contacts expanded to 301,787, an increase of 18.7% compared to the previous fiscal year due to an increase in the number of companies that have introduced it, and by calling more tenants. The unit price was on a downward trend, but it rose from 5,433 yen in the previous fiscal year to 6,552 yen, an increase of 1,119 yen due to the addition of product lineups and focusing on follow-up after moving in in order to sell more products per contact.

※ Key Performance Indicator = Key Performance Evaluation Index.

(2) “Totono”

As of the end of 2024/9 of the tenant application “Totono,” MRR*1 was 34 million yen, and ARR*2 was 411 million yen (results for the previous fiscal year were not disclosed). The number of companies that have introduced the service and the average unit price are KPIs, and the number of companies that have introduced it has increased net by 26 companies compared to the previous fiscal year, and the cumulative number of companies that have introduced it has expanded to 89 companies. Sales promotion activities are being carried out for “Smart Support Thank You Call” customers, and the number of companies that have introduced it is steadily expanding. The average unit price was 378,000 yen, down 63,000 yen from 442,000 yen in the previous fiscal year. However, it should be noted that the main reason for this is that the composition ratio of small-scale real estate management companies increased as the number of companies introduced increased, and price cuts were not made.

*1 Monthly Recurring Revenue = Revenue that can be obtained continuously every month.

*2 Annual Recurring Revenue = revenue that can be obtained continuously during the year.

3. Financial Status and Management Indicators

Looking at the financial situation at the end of the 2024/9 fiscal year, total assets were 689 million yen, an increase of 152 million yen from the end of the previous fiscal year. Current assets increased by 109 million yen to 438 million yen, and mainly cash and deposits increased by 109 million yen. Fixed assets increased by 42 million yen to 250 million yen, mainly software increased by 36 million yen, and deferred tax assets increased by 15 million yen.

Total liabilities increased 46 million yen from the end of the previous fiscal year to 248 million yen. Current liabilities were 243 million yen, an increase of 49 million yen, and mainly unpaid corporate taxes, etc. increased by 27 million yen, and unpaid consumption tax etc. increased by 32 million yen as profits expanded. Fixed liabilities were 4 million yen, down 3 million yen from the same period.

Net assets increased 106 million yen from the end of the previous fiscal year to 441 million yen. Retained earnings were minus 82 million yen at the end of the previous fiscal year, but as profits expanded, carryforward retained earnings increased by 10600 yen.

The capital adequacy ratio was 64.0%, up 1.6 points from the previous fiscal year, and improved along with the increase in retained earnings. The company continues debt-free management, and there is room for further improvement in the equity ratio by generating profits.

4. cash flow

Looking at cash flow for the fiscal year ended 2024/9, cash flow from operating activities was income of 201 million yen due to profit expansion, cash flow from investment activities was expenditure of 84 million yen due to acquisition of intangible fixed assets such as software, etc., and cash flow from financial activities was expenditure of 0.2 million yen. Free cash flow was income of 116 million yen compared to expenses of 276 million yen due to the recording of net losses for the previous fiscal year, etc., and the balance of cash and cash equivalents at the end of the fiscal year increased by 116 million yen to 285 million yen.

■Future outlook

Both sales and profit will hit record highs for the fiscal year ending 2025/9

For the fiscal year ending 2025/9, sales are expected to hit record highs of 3000 million yen, up 12.1% from the previous fiscal year, operating profit up 84.5% to 200 million yen, ordinary income up 77.1% to 200 million yen, and net income up 58.3% to 168 million yen.

On the sales side, “Sumasapo Thank You Call” plans to expand sales due to an increase in the number of contacts with residents and an increase in the sales unit price of products per contact. “Totono” plans to expand sales by increasing the number of companies introducing “smart support thank you calls” due to enhanced contact with customers (sales plans for each service are not disclosed). On the profit side, labor costs and outsourcing costs are expected to increase as the business expands, but the operating profit margin is planned to improve by 2.6 points due to the effect of increasing sales.

(Written by FISCO Visiting Analyst Takuma Jilin)