Financial Information｜Investor Relations | SQUARE ENIX HOLDINGS CO., LTD.

Financial Highlights
Consolidated Statements of Income
Consolidated Balance Sheets
Consolidated Statements of Cash Flows

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Net Sales and Ordinary Income Margin
(03/2014 to 03/2018)

Total Equity and Return on Equity
(03/2014 to 03/2018)

Net Income and Total Annual Dividend Payments(03/2014 to 03/2018)

		03/2014	03/2015	03/2016	03/2017	03/2018
For the year/Millions of Yen	Net sales	155,023	167,891	214,101	256,824	250,394
	Operating income	10,543	16,426	26,018	31,295	38,176
	Ordinary income	12,534	16,984	25,322	31,128	36,124
	Profit attributable to owners of parent	6,598	9,831	19,884	20,039	25,821

		03/2014	03/2015	03/2016	03/2017	03/2018
At year-end/Millions of Yen	Total Assets	216,617	211,938	232,731	243,859	259,713
At year-end/Millions of Yen	Net Assets	127,676	155,314	168,783	181,904	193,359

		03/2014	03/2015	03/2016	03/2017	03/2018
Per Share of Common Stock/Yen	Earnings	57.28	84.34	163.04	164.20	215.33
	Net Assets	1,095.78	1,267.24	1,376.93	1,485.56	1,617,58
	Dividends per share (annual)	30.00	30.00	48.00	50.00	65.00

		03/2014	03/2015	03/2016	03/2017	03/2018
Key Ratios	Operating income margin	6.8%	9.8%	12.2%	12.2%	15.2%
	Ordinary income margin	8.1%	10.1%	11.8%	12.1%	14.4%
	Return on equity	5.4%	7.0%	12.3%	11.5%	13.8%
	Equity ratio	58.3%	72.9%	72.2%	74.4%	74.2%
	Consolidated dividend payout ratio	52.4%	36.0%	29.4%	30.5%	30.2%

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(Millions of yen)

		03/2014	03/2015	03/2016	03/2017	03/2018
Cash flows from operating activities	Profit before income taxes	10,137	15,310	21,436	25,846	35,927
	Depreciation and amortization	6,614	6,934	6,317	6,270	5,859
	Impairment loss	158	640	1,961	862	40
	Increase (decrease) in allowance for doubtful accounts	182	(297)	(169)	169	(251)
	Increase (decrease) in allowance for doubtful accounts	760	(92)	1,138	(224)	1,096
	Increase (decrease) in provision for sales returns	(214)	(298)	(1,332)	2,905	(1,979)
	Increase (decrease) in provision for directors' retirement benefits	(66)	(27)	10	(63)	－
	Increase (decrease) in provision for game arcade closings	(66)	208	(328)	(53)	(48)
	Decrease (increase) in net defined benefit asset	－	－	－	7	64
	Increase (decrease) in net defined benefit liability	160	(715)	(476)	291	205
	Interest and dividends income	(123)	(148)	(95)	(84)	(121)
	Interest expenses	93	68	67	52	84
	Foreign exchange losses (gains)	(1,263)	(2,127)	1,749	(964)	2,940
	Loss (gain) on sales of investment securities	(24)	(82)	(1)	－	(351)
	Loss on sales of shares of subsidiaries and associates	－	－	－	－	371
	Loss on valuation of shares of subsidiaries and associates	－	41	1,702	0	－
	Loss on disposal of property and equipment	126	258	194	210	131
	Gain on sale of property and equipment	(2)	(1,394)	(18)	(4)	(9)
	Loss on sale of property and equipment	7	741	36	－	18
	Decrease (increase) in notes and accounts receivable	10,779	1,973	(910)	(4,882)	1,128
	Decrease (increase) in inventories	(2,601)	(12,799)	(7,630)	4,257	(11,092)
	Increase (decrease) in notes and accounts payable-trade	317	(2)	2,735	3,283	523
	Decrease (increase) in other current assets	(4,484)	3,360	(552)	410	1,994
	Decrease (increase) in other non-current assets	93	(607)	(527)	(187)	(531)
	Increase (decrease) in other current liabilities	969	1,634	320	881	(3,648)
	Other,net	109	(335)	210	(2,215)	874
	Subtotal	21,663	12,241	25,838	36,769	33,098
	Interest and dividends income received	154	161	95	89	121
	Interest expenses paid	(102)	(78)	(65)	(54)	(84)
	Payments for extra retirement payments	(1,066)	－	－	－	－
	Proceed from compensation	351	－	－	－	－
	Income taxes paid	(1,502)	(4,530)	(6,213)	(11,311)	(5,213)
	Income taxes refund	2,200	340	530	45	2,717
	Net cash provided by operating activities	21,698	8,132	20,184	25,537	30,638

(Millions of yen)

		03/2014	03/2015	03/2016	03/2017	03/2018
Cash flows from investing activities	Payments into time deposits	(2,971)	(2,765)	(1,671)	(4,461)	(4,539)
	Proceeds from withdrawal of time deposits	2,922	3,252	1,153	4,113	4,157
	Proceeds from sale of investment securities	53	112	1	－	642
	Purchases of property and equipment	(4,823)	(4,767)	(4,053)	(5,785)	(6,378)
	Proceeds from sale of property and equipment	29	5,884	200	6	9
	Purchase of intangible assets	(566)	(875)	(461)	(851)	(858)
	Purchase of investments in subsidiaries	(223)	(1,872)	(330)	(100)	(210)
	Proceeds from the liquidation of subsidiaries and associates	－	－	－	69	5
	Payments for guarantee deposits	(354)	(1,007)	(398)	(324)	(1,204)
	Proceeds from collection of guarantee deposits	643	312	992	223	431
	Other,net	(671)	(150)	(206)	(54)	(247)
	Net cash used in investing activities	(5,962)	(1,876)	(4,773)	(7,164)	(8,191)

(Millions of yen)

		03/2014	03/2015	03/2016	03/2017	03/2018
Cash flows from financing activities	Net increase (decrease) in short-term loans payable	－	－	3,428	－	－
	Redemption of bonds	－	(18,462)	－	－	－
	Proceeds from issuances of new stocks	47	74	121	124	64
	Purchase of treasury stock	(8)	(6)	(11)	(8)	(9,262)
	Cash dividends paid	(3,446)	(3,450)	(3,654)	(5,849)	(6,068)
	Other,net	(31)	(261)	(24)	(74)	(23)
	Net cash used in financing activities	(3,438)	(22,105)	(141)	(5,807)	(15,290)

(Millions of yen)

	03/2014	03/2015	03/2016	03/2017	03/2018
Effect of exchange rate changes on cash and cash equivalents	2,386	5,572	(3,041)	(534)	(196)
Net increase (decrease) in cash and cash equivalents	14,684	(10,277)	12,228	12,030	6,960
Cash and cash equivalents at beginning of the year	98,822	113,507	103,147	115,375	127,395
Decrease in cash and cash equivalents resulting from exclusion of subsidiaries from consolidation	－	(82)	－	(11)	－
Cash and cash equivalents at end of the year	113,507	103,147	115,375	127,395	134,355

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(Millions of yen)

	03/2014	03/2015	03/2016	03/2017	03/2018
Net sales	155,023	167,891	214,101	256,824	250,394
Cost of sales	94,481	94,794	115,316	141,123	129,519
Gross profit	60,542	73,096	98,784	115,701	120,874
Reversal of provision for sales returns	4,672	4,877	4,867	3,227	6,118
Provision for sales returns	4,458	4,579	3,534	6,014	4,139
Net gross profit	60,756	73,394	100,116	112,914	122,854

(Millions of yen)

		03/2014	03/2015	03/2016	03/2017	03/2018
Selling, general and administrative expenses	Packaging freight charge	1,848	2,014	1,751	1,726	1,874
	Advertising expense	7,913	10,386	20,270	25,541	22,585
	Sales promotion expense	59	66	66	74	86
	Allowance for doubtful accounts	36	69	54	12	－
	Compensation for directors	572	435	565	557	773
	Salaries	14,148	14,207	14,465	14,618	15,242
	Provisions for bonuses	2,193	1,936	2,916	2,492	3,740
	Net periodic pension costs	1,088	323	539	678	534
	Provisions for directors' retirement benefits	17	11	10	－	－
	Welfare expense	1,846	1,838	2,092	2,161	2,522
	Rental expense	1,652	1,739	2,118	2,100	2,306
	Commission fee	9,596	13,734	18,996	21,554	23,539
	Depreciation and amortization	2,512	2,460	2,476	2,272	2,495
	Other	6,726	7,742	7,772	7,825	8,976
	Total Selling, general and administrative expenses	50,213	56,967	74,097	81,618	84,677

(Millions of yen)

	03/2014	03/2015	03/2016	03/2017	03/2018
Operating income	10,543	16,426	26,018	31,295	38,176

(Millions of yen)

		03/2014	03/2015	03/2016	03/2017	03/2018
Non-operating income	Interest income	116	139	85	75	107
	Dividends received	6	9	9	9	14
	Foreign exchange gain	1,798	484	－	－	－
	Rental income	18	20	16	16	35
	Reversal of allowance for doubtful accounts	－	－	213	2	161
	Subsidy income	－	17	495	33	126
	Gain on forgiveness of payable for group tax	－	－	－	62	31
	Miscellaneous income	210	219	158	93	281
	Total non-operating income	2,150	890	980	293	757

(Millions of yen)

		03/2014	03/2015	03/2016	03/2017	03/2018
Non-operating expenses	Interest expenses	93	68	67	52	84
	Commission fee	52	74	14	6	10
	Office transfer related expenses	－	173	44	31	152
	Foreign exchange loss	－	－	1,545	358	2,477
	Miscellaneous loss	13	15	4	11	83
	Total non-operating expenses	159	332	1,676	459	2,809

(Millions of yen)

	03/2014	03/2015	03/2016	03/2017	03/2018
Ordinary income	12,534	16,984	25,322	31,128	36,124

(Millions of yen)

		03/2014	03/2015	03/2016	03/2017	03/2018
Extraordinary gain	Gain on sale of property and equipment	2	1,394	18	4	9
	Gain on sale of investment securities	24	82	1	－	351
	Gain on reversal of subscription rights to shares	35	44	19	20	2
	Compensation income	351	－	－	－	－
	Gain on liquidation of subsidiaries	－	－	－	69	－
	Gain on disposition of foreign currency translation adjustment	－	－	－	105	－
	Gain on reversal of debts	－	－	－	82	－
	Other	－	－	－	20	5
	Total extraordinary gain	413	1,520	40	302	368

(Millions of yen)

		03/2014	03/2015	03/2016	03/2017	03/2018
Extraordinary loss	Loss on sale of property and equipment	7	741	36	－	18
	Loss on disposal of property and equipment	130	258	194	210	131
	Impairment loss	158	640	1,961	437	40
	Provision for game arcade closings	153	402	15	－	－
	Loss on sales of shares of subsidiaries and associates	－	－	－	－	371
	Loss on liquidation of subsidiaries and associates	－	313	－	4,898	－
	Loss on valuation of shares of subsidiaries and associates	－	41	1,702	0	－
	Loss on evaluation of content	1,725	－	－	－	－
	Other	607	664	14	37	4
	Total extraordinary loss	2,783	3,062	3,925	5,584	565

(Millions of yen)

	03/2014	03/2015	03/2016	03/2017	03/2018
Income before dividends distribution from silent partnership, income taxes (tokumei-kumiai)	10,164	15,442	－	－	－
Dividends distribution from silent partnership (tokumei-kumiai)	26	132	－	－	－
Profit (Loss) before income taxes	10,137	15,310	21,436	25,846	35,927

(Millions of yen)

		03/2014	03/2015	03/2016	03/2017	03/2018
Income taxes	Income taxes-current	2,807	5,136	6,690	5,331	9,216
	Income taxes-deferred	715	353	(5,146)	472	878
	Total income taxes	3,522	5,489	1,544	5,804	10,094

(Millions of yen)

	03/2014	03/2015	03/2016	03/2017	03/2018
Income before minority interests	6,615	9,820	－	－	－
Minority interests income (loss)	16	(11)	－	－	－
Profit	6,598	9,831	19,892	20,042	25,832
Profit attributable to non-controlling interests	－	－	8	3	11
Profit (loss) attributable to owners of parent	－	－	19,884	20,039	25,821

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Assets

(Millions of yen)

		03/2014	03/2015	03/2016	03/2017	03/2018
Current assets	Cash and deposits	115,367	103,631	117,306	129,364	136,785
	Notes and accounts receivable	22,110	20,973	21,487	26,053	24,383
	Merchandises and finished goods	2,013	1,881	2,428	2,820	3,233
	Work in progress	700	4	109	11	3
	Raw materials and supplies	433	314	233	302	253
	Content production account	20,556	35,113	41,419	34,548	44,167
	Deferred tax assets	4,819	4,818	6,561	7,029	6,443
	Income taxes receivable	288	－	－	－	－
	Other	7,465	4,201	5,275	9,222	7,486
	Allowance for doubtful accounts	(151)	(122)	(143)	(314)	(212)
	Total current assets	173,604	170,815	194,679	209,038	222,544

(Millions of yen)

		03/2014	03/2015	03/2016	03/2017	03/2018
Non-current assets	Property and equipment
	Buildings and structures	18,016	13,212	13,779	14,777	15,657
	Accumulated depreciation	(12,296)	(8,611)	(8,654)	(9,365)	(9,993)
	Buildings and structures (net)	5,719	4,601	5,124	5,412	5,663
	Tools and fixtures	13,062	13,074	13,312	13,694	14,021
	Accumulated depreciation	(9,240)	(9,699)	(10,047)	(10,626)	(9,855)
	Tools and fixtures (net)	3,822	3,375	3,265	3,067	4,165
	Amusement equipment	20,222	16,559	15,457	16,247	16,910
	Accumulated depreciation	(17,830)	(15,105)	(14,012)	(14,455)	(14,588)
	Amusement equipment (net)	2,392	1,454	1,445	1,792	2,322
	Other	129	127	101	181	177
	Accumulated depreciation	(87)	(83)	(47)	(79)	(115)
	Other (net)	41	43	54	101	62
	Land	7,939	4,008	3,798	3,798	3,795
	Construction in progress	1	136	61	62	50
	Total property and equipment	19,917	13,620	13,748	14,234	16,060
	Intangible assets
	Other	10,835	10,192	6,447	4,735	4,559
	Total intangible assets	10,835	10,192	6,447	4,735	4,559
	Investments and other assets
	Investment securities	701	1,172	749	780	154
	Guarantee deposits	9,746	10,167	9,173	9,204	9,879
	Net defined benefit asset	－	－	－	120	155
	Deferred tax assets	1,125	1,198	4,972	2,572	2,458
	Other	1,495	5,192	3,185	3,394	3,965
	Allowance for doubtful accounts	(809)	(420)	(224)	(222)	(63)
	Total investments and other assets	12,259	17,309	17,856	15,850	16,549
	Total non-current assets	43,012	41,122	38,052	34,820	37,169

(Millions of yen)

		03/2014	03/2015	03/2016	03/2017	03/2018
Total assets		216,617	211,938	232,731	243,859	259,713

Liabilities and Net Assets

(Millions of yen)

		03/2014	03/2015	03/2016	03/2017	03/2018
Current liabilities	Notes and accounts payable	11,563	11,820	14,671	14,220	14,848
	Short-term loans	6,852	7,122	9,722	8,437	8,931
	Current portion of corporate bonds	35,000	－	－	－	－
	Accrued income taxes	2,980	3,974	5,726	1,665	9,162
	Provision for bonuses	1,771	1,696	2,672	2,358	3,246
	Provision for sales returns	4,609	4,865	3,334	6,197	3,985
	Provision for game arcade closings	251	379	75	64	58
	Deffered tax liabilities	3	－	－	－	－
	Asset retirement obligations	3	9	5	17	－
	Other	17,472	20,062	19,529	22,482	18,610
	Total current liabilities	80,508	49,931	55,737	55,445	58,842

(Millions of yen)

		03/2014	03/2015	03/2016	03/2017	03/2018
Non-current liabilities	Provision for directors' retirement benefits	178	151	162	88	88
	Provision for game arcade closings	383	423	127	83	41
	Net defined benefit liabilities	4,425	2,200	2,747	2,546	2,676
	Deferred tax liabilities	1,978	2,371	2,153	573	896
	Asset retirement obligations	807	953	2,355	2,450	2,812
	Other	658	591	665	767	994
	Total non-current liabilities	8,432	6,692	8,210	6,510	7,510

(Millions of yen)

		03/2014	03/2015	03/2016	03/2017	03/2018
Total liabilities		88,940	56,623	63,948	61,955	66,353

(Millions of yen)

		03/2014	03/2015	03/2016	03/2017	03/2018
Shareholders' equity	Common stock	15,368	23,680	23,753	23,828	23,868
	Capital surplus	44,607	52,920	52,993	53,067	53,107
	Retained earnings	71,298	79,355	95,581	109,764	129,513
	Treasury stock	(870)	(876)	(888)	(897)	(10,159)
	Total shareholders' equity	130,404	155,079	171,439	185,763	196,330

(Millions of yen)

		03/2014	03/2015	03/2016	03/2017	03/2018
Accumulated other comprehensive income (loss)	Unrealized loss on revaluation of other investment securities	253	618	341	364	89
	Foreign currency translation adjustments	(4,780)	(1,292)	(3,207)	(4,640)	(3,674)
	Remeasurements of defined benefit plans	432	99	(607)	(165)	(132)
	Total accumulated other comprehensive income (loss)	(4,094)	(574)	(3,474)	(4,440)	(3,718)

(Millions of yen)

	03/2014	03/2015	03/2016	03/2017	03/2018
Subscription rights to shares	348	327	374	453	603
(Minority interests)	1,018	482	-	-	-
Non-controlling interests	－	－	443	128	144
Total net assets	127,676	155,314	168,783	181,904	193,359
Total liabilities and net assets	216,617	211,938	232,731	243,859	259,713

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