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Aoba-BBT Research Memo (12): Implementing continuous dividends while being conscious of dividend payout ratio and dividend yield.
■Shareholder return strategy Aoba-BBT <2464> implements dividends and shareholder benefits as a shareholder return strategy. Regarding dividends, the basic policy is to implement continuous dividends while being conscious of the dividend payout ratio, taking into account the business performance of each period and the strengthening of the corporate structure, as well as the enhancement of internal reserves for future business development. The per share dividend for the fiscal year ending March 2024 was implemented at 11.0 yen, the same amount as the regular dividend in the previous fiscal year (a commemorative dividend of 5.0 yen was implemented in the previous fiscal year). For the fiscal year ending March 2025.
Aoba-BBT Research Memo (11): Leaping as a Growth Driver for Corporate Human Resource Development Business, etc. (2)
In the University business of Aoba-BBT＜2464＞, the number of students enrolled in the undergraduate courses of BBT universities and graduate schools is decreasing due to changes in the market environment.
Aoba-BBT Research Memo (10): Leap as growth driver in corporate training business among others (1)
■Future Outlook 2. The growth strategy of the key areas for Aoba-BBT<2464> in the future positions and focuses on corporate talent development business, University business intensive courses, and platform service business as key growth drivers. (1) Corporate Talent Development Business The characteristic of the corporate talent development business at the company is that, amid many competitors offering standardized package services, it incorporates customer demands into its business strategy.
Aoba-BBT Research Memo (8): With a equity ratio of over 60%, the financial situation is healthy.
■ Performance Trends 2. Financial Position and Management Indicators Looking at the financial position of Aoba-BBT＜2464＞ as of the end of the fiscal year ending in March 2024, the total assets decreased by 1,127 million yen compared to the previous year-end to 7,491 million yen. Looking at the main factors of increase and decrease, cash and deposits decreased by 926 million yen in current assets. In fixed assets, tangible fixed assets decreased by 312 million yen, and goodwill decreased by 145 million yen respectively. Total liabilities decreased by 896 million yen compared to the previous year-end to 2,716 million yen. Interest-bearing debt was 68 million yen.
Aoba-BBT Research Memo (7): The March 2024 period marks the 15th consecutive increase in revenue, setting a new record for the highest sales (2).
■Performance Trends a) For the corporate training business Aoba-BBT <2464>, the revenue from the corporate training business increased by 16% compared to the previous period to 1.49 billion yen, marking the second consecutive increase and achieving the highest revenue to date. While the number of corporate transactions decreased slightly, amid the growing focus on human capital management, particularly among large corporations, the demand for next-generation management talent development (Succession Plan) expanded. In addition, the number of trading companies for VIP companies (annual transaction amount exceeding 10 million yen) increased, leading to an average revenue per company.
Aoba-BBT Research Memo (2): Providing education services targeting all age groups from infants to adults.
■Company Overview 1. Company History Aoba-BBT <2464> has the vision of "Lifetime Empowerment" (providing a learning platform to continuously update oneself) and has the task center of fostering "leaders who can thrive in the world" by acquiring essential skills that cannot be replaced by AI, targeting university students, working adults, and executives through online, in-person, and hybrid online and in-person education. Not able to be replaced by AI.
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