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 Operating Income Margin
(03/2015 to 03/2019)

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

Total Equity and Return on Equity
(03/2015 to 03/2019)

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

Net Income and Total Annual Dividend Payments(03/2015 to 03/2019)

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

		03/2015	03/2016	03/2017	03/2018	03/2019
For the year/Millions of Yen	Net sales	167,891	214,101	256,824	250,394	271,048
	Operating income	16,426	26,018	31,295	38,176	24,531
	Ordinary income	16,984	25,322	31,128	36,124	28,312
	Profit attributable to owners of parent	9,831	19,884	20,039	25,821	18,463

		03/2015	03/2016	03/2017	03/2018	03/2019
At year-end/Millions of Yen	Total Assets	211,938	232,731	243,859	259,713	277,856
At year-end/Millions of Yen	Net Assets	155,314	168,783	181,904	193,359	203,230

		03/2015	03/2016	03/2017	03/2018	03/2019
Per Share of Common Stock/Yen	Earnings	84.34	163.04	164.20	215.33	154.93
	Net Assets	1,267.24	1,376.93	1,485.56	1,617,58	1,699.34
	Dividends per share (annual)	30.00	48.00	50.00	65.00	47.00

		03/2015	03/2016	03/2017	03/2018	03/2019
Key Ratios	Operating income margin	9.8%	12.2%	12.2%	15.2%	9.1%
	Ordinary income margin	10.1%	11.8%	12.1%	14.4%	10.4%
	Return on equity	7.0%	12.3%	11.5%	13.8%	9.3%
	Equity ratio	72.9%	72.2%	74.4%	74.2%	72.9%
	Consolidated dividend payout ratio	36.0%	29.4%	30.5%	30.2%	30.3%

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(Millions of yen)

		03/2015	03/2016	03/2017	03/2018	03/2019
Cash flows from operating activities	Profit before income taxes	15,310	21,436	25,846	35,927	23,028
	Depreciation and amortization	6,934	6,317	6,270	5,859	6,801
	Impairment loss	640	1,961	862	40	368
	Increase (decrease) in allowance for doubtful accounts	(297)	(169)	169	(251)	44
	Increase (decrease) in allowance for doubtful accounts	(92)	1,138	(224)	1,096	(36)
	Increase (decrease) in provision for sales returns	(298)	(1,332)	2,905	(1,979)	5,032
	Increase (decrease) in provision for directors' retirement benefits	(27)	10	(63)	－	(35)
	Increase (decrease) in provision for game arcade closings	208	(328)	(53)	(48)	(50)
	Decrease (increase) in net defined benefit asset	－	－	7	(64)	(44)
	Increase (decrease) in net defined benefit liability	(715)	(476)	291	205	96
	Interest and dividends income	(148)	(95)	(84)	(121)	(167)
	Interest expenses	68	67	52	84	107
	Foreign exchange losses (gains)	(2,127)	1,749	(964)	2,940	(4,072)
	Gain on sales of investment securities	(82)	(1)	－	(351)	(0)
	Loss on sales of shares of subsidiaries and associates	－	－	－	371	－
	Loss on disposal of property and equipment	258	194	210	131	198
	Gain on sale of property and equipment	(1,394)	(18)	(4)	(9)	(15)
	Loss on sale of property and equipment	741	36	－	18	－
	Loss on valuation of shares of subsidiaries and associates	41	1,702	0	－	680
	Decrease (increase) in notes and accounts receivable	1,973	(910)	(4,882)	1,128	(10,649)
	Decrease (increase) in inventories	(12,799)	(7,630)	4,257	(11,092)	(6,860)
	Increase (decrease) in notes and accounts payable-trade	(2)	2,735	3,283	523	7,385
	Decrease (increase) in other current assets	3,360	(552)	410	1,994	(2,307)
	Decrease (increase) in other non-current assets	(607)	(527)	(187)	(531)	(659)
	Increase (decrease) in other current liabilities	1,634	320	881	(3,648)	2,079
	Other,net	(335)	210	(2,215)	874	1,065
	Subtotal	12,241	25,838	36,769	33,098	21,988
	Interest and dividends income received	161	95	89	121	167
	Interest expenses paid	(78)	(65)	(54)	(84)	(106)
	Income taxes paid	(4,530)	(6,213)	(11,311)	(5,213)	(12,683)
	Income taxes refund	340	530	45	2,717	2,768
	Net cash provided by operating activities	8,132	20,184	25,537	30,638	12,135

(Millions of yen)

		03/2015	03/2016	03/2017	03/2018	03/2019
Cash flows from investing activities	Payments into time deposits	(2,765)	(1,671)	(4,461)	(4,539)	(3,993)
	Proceeds from withdrawal of time deposits	3,252	1,153	4,113	4,157	3,976
	Purchases of property and equipment	(4,767)	(4,053)	(5,785)	(6,378)	(8,450)
	Proceeds from sale of property and equipment	5,884	200	6	9	15
	Purchase of intangible assets	(875)	(461)	(851)	(858)	(1,190)
	Payments for acquiring investment securities	－	－	－	－	(1,074)
	Proceeds from sale of investment securities	112	1	－	642	0
	Purchase of investments in subsidiaries	(1,872)	(330)	(100)	(210)	(380)
	Proceeds from the liquidation of subsidiaries and associates	－	－	69	5	8
	Payments for acquiring shares in subsidiaries and affiliated companies	－	－	－	－	-294
	Payments for acquiring bonds in subsidiaries and affiliated companies	－	－	－	－	(697)
	Payments for guarantee deposits	(1,007)	(398)	(324)	(1,204)	(760)
	Proceeds from collection of guarantee deposits	312	992	223	431	208
	Other,net	(150)	(206)	(54)	(247)	(244)
	Net cash used in investing activities	(1,876)	(4,773)	(7,164)	(8,191)	(12,875)

(Millions of yen)

		03/2015	03/2016	03/2017	03/2018	03/2019
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	74	121	124	64	106
	Purchase of treasury stock	(6)	(11)	(8)	(9,262)	(8)
	Proceeds from exercise of share options	－	－	－	－	5
	Cash dividends paid	(3,450)	(3,654)	(5,849)	(6,068)	(7,735)
	Other,net	(261)	(24)	(74)	(23)	(23)
	Net cash used in financing activities	(22,105)	(141)	(5,807)	(15,290)	(7,656)

(Millions of yen)

	03/2015	03/2016	03/2017	03/2018	03/2019
Effect of exchange rate changes on cash and cash equivalents	5,572	(3,041)	(534)	(196)	1,221
Net increase (decrease) in cash and cash equivalents	(10,277)	12,228	12,030	6,960	(7,173)
Cash and cash equivalents at beginning of the year	113,507	103,147	115,375	127,395	134,355
Decrease in cash and cash equivalents resulting from exclusion of subsidiaries from consolidation	(82)	－	(11)	－	－
Cash and cash equivalents at end of the year	103,147	115,375	127,395	134,355	127,181

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(Millions of yen)

	03/2015	03/2016	03/2017	03/2018	03/2019
Net sales	167,891	214,101	256,824	250,394	271,048
Cost of sales	94,794	115,316	141,123	129,519	146,820
Gross profit	73,096	98,784	115,701	120,874	124,228
Reversal of provision for sales returns	4,877	4,867	3,227	6,118	4,152
Provision for sales returns	4,579	3,534	6,014	4,139	9,185
Net gross profit	73,394	100,116	112,914	122,854	119,195

(Millions of yen)

		03/2015	03/2016	03/2017	03/2018	03/2019
Selling, general and administrative expenses	Packaging freight charge	2,014	1,751	1,726	1,874	2,062
	Advertising expense	10,386	20,270	25,541	22,585	29,460
	Sales promotion expense	66	66	74	86	120
	Allowance for doubtful accounts	69	54	12	－	－
	Compensation for directors	435	565	557	773	470
	Salaries	14,207	14,465	14,618	15,242	17,396
	Provisions for bonuses	1,936	2,916	2,492	3,740	3,433
	Net periodic pension costs	323	539	678	534	692
	Provisions for directors' retirement benefits	11	10	－	－	－
	Welfare expense	1,838	2,092	2,161	2,522	2,642
	Rental expense	1,739	2,118	2,100	2,306	2,699
	Commission fee	13,734	18,996	21,554	23,539	24,664
	Depreciation and amortization	2,460	2,476	2,272	2,495	2,410
	Other	7,742	7,772	7,825	8,976	8,610
	Total Selling, general and administrative expenses	56,967	74,097	81,618	84,677	94,663

(Millions of yen)

	03/2015	03/2016	03/2017	03/2018	03/2019
Operating income	16,426	26,018	31,295	38,176	24,531

(Millions of yen)

		03/2015	03/2016	03/2017	03/2018	03/2019
Non-operating income	Interest income	139	85	75	107	167
	Dividends received	9	9	9	14	0
	Foreign exchange gain	484	－	－	－	3,459
	Rental income	20	16	16	35	72
	Reversal of allowance for doubtful accounts	－	213	2	161	8
	Subsidy income	17	495	33	126	7
	Gain on forgiveness of payable for group tax	－	－	62	31	37
	Miscellaneous income	219	158	93	281	246
	Total non-operating income	890	980	293	757	3,999

(Millions of yen)

		03/2015	03/2016	03/2017	03/2018	03/2019
Non-operating expenses	Interest expenses	68	67	52	84	107
	Commission fee	74	14	6	10	5
	Loss on investments in securities	－	－	－	－	40
	Office transfer related expenses	173	44	31	152	65
	Foreign exchange loss	－	1,545	358	2,477	－
	Miscellaneous loss	15	4	11	83	0
	Total non-operating expenses	332	1,676	459	2,809	219

(Millions of yen)

	03/2015	03/2016	03/2017	03/2018	03/2019
Ordinary income	16,984	25,322	31,128	36,124	28,312

(Millions of yen)

		03/2015	03/2016	03/2017	03/2018	03/2019
Extraordinary gain	Gain on sale of property and equipment	1,394	18	4	9	15
	Gain on sale of investment securities	82	1	－	351	0
	Gain on reversal of subscription rights to shares	44	19	20	2	－
	Gain on disposition of foreign currency translation adjustment	－	－	105	－	－
	Gain on liquidation of subsidiaries	－	－	69	5	8
	Gain on reversal of debts	－	－	82	－	－
	Other	－	－	20	－	－
	Total extraordinary gain	1,520	40	302	368	23

(Millions of yen)

		03/2015	03/2016	03/2017	03/2018	03/2019
Extraordinary loss	Loss on sale of property and equipment	741	36	－	18	－
	Loss on disposal of property and equipment	258	194	210	131	198
	Impairment loss	640	1,961	437	40	368
	Loss on valuation of shares of subsidiaries and associates	41	1,702	0	－	680
	Loss on sales of shares of subsidiaries and associates	－	－	－	371	－
	Loss on liquidation of subsidiaries and associates	313	－	4,898	－	－
	Provision for game arcade closings	402	15	－	－	－
	Loss on evaluation of content	－	－	－	－	3,638
	Other	664	14	37	4	422
	Total extraordinary loss	3,062	3,925	5,584	565	5,307

(Millions of yen)

	03/2015	03/2016	03/2017	03/2018	03/2019
Income before dividends distribution from silent partnership, income taxes (tokumei-kumiai)	15,442	－	－	－	－
Dividends distribution from silent partnership (tokumei-kumiai)	132	－	－	－	－
Profit (Loss) before income taxes	15,310	21,436	25,846	35,927	23,028

(Millions of yen)

		03/2015	03/2016	03/2017	03/2018	03/2019
Income taxes	Income taxes-current	5,136	6,690	5,331	9,216	2,968
	Income taxes-deferred	353	(5,146)	472	878	1,590
	Total income taxes	5,489	1,544	5,804	10,094	4,559

(Millions of yen)

	03/2015	03/2016	03/2017	03/2018	03/2019
Income before minority interests	9,820	－	－	－	－
Minority interests income (loss)	(11)	－	－	－	－
Profit	9,831	19,892	20,042	25,832	18,468
Profit attributable to non-controlling interests	－	8	3	11	4
Profit (loss) attributable to owners of parent	－	19,884	20,039	25,821	18,463

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Assets

(Millions of yen)

		03/2015	03/2016	03/2017	03/2018	03/2019
Current assets	Cash and deposits	103,631	117,306	129,364	136,785	129,468
	Notes and accounts receivable	20,973	21,487	26,053	24,383	35,382
	Merchandises and finished goods	1,881	2,428	2,820	3,233	4,484
	Work in progress	4	109	11	3	5
	Raw materials and supplies	314	233	302	253	330
	Content production account	35,113	41,419	34,548	44,167	50,711
	Deferred tax assets	4,818	6,561	7,029	－	－
	Other	4,201	5,275	9,222	7,486	9,770
	Allowance for doubtful accounts	(122)	(143)	(314)	(212)	(265)
	Total current assets	170,815	194,679	209,038	216,100	229,888

(Millions of yen)

		03/2015	03/2016	03/2017	03/2018	03/2019
Non-current assets	Property and equipment
	Buildings and structures	13,212	13,779	14,777	15,657	17,179
	Accumulated depreciation	(8,611)	(8,654)	(9,365)	(9,993)	(10,663)
	Buildings and structures (net)	4,601	5,124	5,412	5,663	6,515
	Tools and fixtures	13,074	13,312	13,694	14,021	14,759
	Accumulated depreciation	(9,699)	(10,047)	(10,626)	(9,855)	(10,065)
	Tools and fixtures (net)	3,375	3,265	3,067	4,165	4,693
	Amusement equipment	16,559	15,457	16,247	16,910	17,435
	Accumulated depreciation	(15,105)	(14,012)	(14,455)	(14,588)	(14,790)
	Amusement equipment (net)	1,454	1,445	1,792	2,322	2,645
	Other	127	101	181	177	184
	Accumulated depreciation	(83)	(47)	(79)	(115)	(115)
	Other (net)	43	54	101	62	68
	Land	4,008	3,798	3,798	3,795	3,782
	Construction in progress	136	61	62	50	183
	Total property and equipment	13,620	13,748	14,234	16,060	17,889
	Intangible assets
	Other	10,192	6,447	4,735	4,559	5,105
	Total intangible assets	10,192	6,447	4,735	4,559	5,105
	Investments and other assets
	Investment securities	1,172	749	780	154	1,226
	Guarantee deposits	10,167	9,173	9,204	9,879	10,373
	Net defined benefit asset	－	－	120	155	93
	Deferred tax assets	1,198	4,972	2,572	8,902	7,922
	Other	5,192	3,185	3,394	3,965	5,418
	Allowance for doubtful accounts	(420)	(224)	(222)	(63)	(61)
	Total investments and other assets	17,309	17,856	15,850	22,993	24,974
	Total non-current assets	41,122	38,052	34,820	43,612	47,968

(Millions of yen)

		03/2015	03/2016	03/2017	03/2018	03/2019
Total assets		211,938	232,731	243,859	259,713	277,856

Liabilities and Net Assets

(Millions of yen)

		03/2015	03/2016	03/2017	03/2018	03/2019
Current liabilities	Notes and accounts payable	11,820	14,671	14,220	14,848	22,050
	Short-term loans	7,122	9,722	8,437	8,931	8,685
	Accrued income taxes	3,974	5,726	1,665	9,162	1,694
	Provision for bonuses	1,696	2,672	2,358	3,246	3,273
	Provision for sales returns	4,865	3,334	6,197	3,985	9,178
	Provision for game arcade closings	379	75	64	58	49
	Asset retirement obligations	9	5	17	－	5
	Other	20,062	19,529	22,482	18,610	20,968
	Total current liabilities	49,931	55,737	55,445	58,842	65,906

(Millions of yen)

		03/2015	03/2016	03/2017	03/2018	03/2019
Non-current liabilities	Provision for directors' retirement benefits	151	162	88	88	52
	Provision for game arcade closings	423	127	83	41	－
	Net defined benefit liabilities	2,200	2,747	2,546	2,676	2,893
	Deferred tax liabilities	2,371	2,153	573	896	1,383
	Asset retirement obligations	953	2,355	2,450	2,812	3,132
	Other	591	665	767	994	1,257
	Total non-current liabilities	6,692	8,210	6,510	7,510	8,719

(Millions of yen)

		03/2015	03/2016	03/2017	03/2018	03/2019
Total liabilities		56,623	63,948	61,955	66,353	74,626

(Millions of yen)

		03/2015	03/2016	03/2017	03/2018	03/2019
Shareholders' equity	Common stock	23,680	23,753	23,828	23,868	24,039
	Capital surplus	52,920	52,993	53,067	53,107	53,281
	Retained earnings	79,355	95,581	109,764	129,513	140,235
	Treasury stock	(876)	(888)	(897)	(10,159)	(10,162)
	Total shareholders' equity	155,079	171,439	185,763	196,330	207,394

(Millions of yen)

		03/2015	03/2016	03/2017	03/2018	03/2019
Accumulated other comprehensive income	Unrealized loss on revaluation of other investment securities	618	341	364	89	116
	Foreign currency translation adjustments	(1,292)	(3,207)	(4,640)	(3,674)	(4,651)
	Remeasurements of defined benefit plans	99	(607)	(165)	(132)	(285)
	Total accumulated other comprehensive income	(574)	(3,474)	(4,440)	(3,718)	(4,820)

(Millions of yen)

	03/2015	03/2016	03/2017	03/2018	03/2019
Subscription rights to shares	327	374	453	603	517
(Minority interests)	482	－	－	－	－
Non-controlling interests	－	443	128	144	139
Total net assets	155,314	168,783	181,904	193,359	203,230
Total liabilities and net assets	211,938	232,731	243,859	259,713	277,856

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