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Investing.com -- Kakaku reported strong Q1 results Wednesday, with sales reaching ¥21.96 billion, up 24.0% year-over-year, exceeding both Jefferies estimates of ¥21.2 billion and consensus forecasts of ¥21.4 billion.
Operating profit came in at ¥7.3 billion, representing a 4.9% increase year-over-year, also surpassing Jefferies estimates of ¥6.5 billion and consensus expectations of ¥6.6 billion. The company maintained its full-year guidance.
The standout performer was the Kyujin Box segment, which delivered sales of ¥4.66 billion, a remarkable 72.4% increase year-over-year, significantly above Jefferies’ projection of ¥4.1 billion. This growth was driven by a 45.3% rise in active accounts and a 17.1% increase in average revenue per user (ARPU) to ¥123,000.
Jefferies noted: "For Q1, we think the market was looking at 60% yoy sales growth (JEF 50%) from our recent investor marketing meetings, so we think Q1 sales of 70% is better than the market expectation."
Kyujin Box’s operating profit was ¥356 million, down 69.0% year-over-year, but better than Jefferies’ forecast of a ¥129 million loss. The company plans to quadruple its promotional budget this fiscal year and accelerate hiring efforts from Q2.
The kakaku.com segment showed steady performance with sales of ¥5.8 billion, up 4.0% year-over-year, and operating profit of ¥3.13 billion, increasing 9.6%. The segment’s operating profit margin improved by 2.8 percentage points year-over-year to 53.7%.
Tabelog maintained solid growth with sales of ¥9.26 billion, up 21.3% year-over-year, and operating profit of ¥5.23 billion, a 21.9% increase. Online reservations grew 29.5% while the advertising business increased 15.7%.
The Incubation segment reported sales of ¥2.2 billion, up 24.7% year-over-year, with operating profit rising 36.8% to ¥420 million. This growth was primarily attributed to the acquisition of LiPLUS, while organic growth in real estate and travel segments slowed.
On the cost side, promotion expenses increased 63.7% year-over-year, agency fees rose 97%, and labor and contractor costs grew 15.4%.
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