Financial Results for the Fiscal Year
ended June 30, 2011 (FY11)
Macromill, Inc.
First Section, Tokyo Stock Exchange (3730)

１．Results for the Fiscal Year ended
June 30, 2011 (FY11)

Overview of 4th Quarter and FY11

（million yen）（*1） Consolidated net sales of 1st Quarter of FY10 above include net sales of AIP , which was a consolidated subsidiary at the time.
（*2） Profit margin temporarily declined mainly due to investment into subsidiaries and conservative accounting treatment of CB and loan to Macromill Korea, Inc.
（*3） Loss on the disposal of fixed assets was recorded as a result of merger with YVI in the first half.
（*4） For comparison purposes only, net sales of FY10 were assumed to include net sales of research business of YVI (from August and forward).

2

Topics of FY11

 Integration with YVI was successfully completed and increase in sales and profit wasachieved,achieved, despite the negative impact by the Great East Japan Earthquake in March.
 Ordinary income exceeded the revised forecast (released on May 12, 2011) as a result ofthe efforts such as improved productivity and cost reduction, althoughalthough sales resulted slightly
short of the forecast.
 Research demand, which declined significantly after the quake, isis starting to recover,
especially among general companies. Demand from advertizing agencies,agencies, which had beensluggish since March, is also beginning to return to the prepre- quake level.

 M-CUBE AND ASSOCIATES, INC. was established with an aim to strengthen
strengthen QPR service withQPR panel increased to 30,000.
 MACROMILL China, INC. was established in Shanghai in April, gaining
gaining a foothold in the growingAsian market.
 M-WARP, INC. launched a new smartphone application.
 Ordinary profit margin over 20% was maintained, despite the loss as a result of active
investment into subsidiaries and new business development.

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Financial Results for FY11(Full Year, Consolidated)
Sales

thw
ogr%.166(billion yen)

Ordinary IncomeNet Incomewt horg%
18. 192.5% decline

4Analysis on profit
 Ordinary income on non-consolidated basis reached ¥2.9B (23.8% margin)
along with increased sales.
 Ordinary income reached record-high ¥2.5B, despite the loss as a result ofactive investment into subsidiaries and new business development.
（million yen）

▲240

Ordinary Income(non(non-consolidated)
2,912

▲150
Investment into consolidated
subsidiaries
M-CUBE AND ASSOCIATES, INC.
▲110
M-WARP, INC.
▲130

Conservatively recording
loss reserve for doubtful
debts regarding loan andCB to Macromill Korea, Inc.

Ordinary Income(consolidated)
2,522

Profit margin(non-consolidated)
23.8%

Profit margin(consolidated) 20.7%
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Industry trend around the earthquake(12 month moving cumulative sales)
3.11 Earthquake
Ad Agencies

Foods&Drink
Services
Daily goods, Pharma

 Sales declined
significantly across allindustries right afterthe quake.
 Recovery trend is seen
on most industries withvaried pace.

IT, Telecom※Vertical axis represents sales
on each industry.

6

Sales Breakdown by Industry(non-consolidated)
 High demand until the earthquake and completion of YVI integration resulted in
non-consolidated sales growth of 70.3%.
→ Adversely affected by the quake, but most industries are on recovery trend.
Industries with major（Figures in bars show %sales growthof breakdown.)
3.0¥12,212M（YoY change in sales）

１．Ad Agencies＋62.3%¥7,171M■ Government agencies,associations, schools, etc.

3.1

66.0

64.2

■ Advertising agencies

it performed well on annual basis.

＋83.5%

14.3
15.2
17.5

→ While slowed down after the quake,

２．Services■ General companies■ Research companies,
consultants＋¥780M

16.7＋¥740M

３．Foods & drink＋60.9%＋¥670M→ Consumer goods performed well
FY10
FY10

FY11
FY11

before the quake along with growth ofQPR service.

7

Sales Breakdown by Service(non(non-consolidated) Most services achieved sales growth from the prior year, especially for the services
listed below with significant growth.
→ Analysis:
up 107％ YoY→ Qualitative research: up 145％ YoYIncreasing profit margin through better management bet. outsourcing and in-housing.
7.1 1.2
3.9
8.1
5.5
7.7
6.6

6.2
3.5 0.7
10
8.2
9.6
6.1

その他
モバイルリサーチ
グローバルリサーチ
カスタマイズリサーチ
定性調査サービス

59.9

55.7

分析
集計
自動調査

（Unit:％）

FY10FY10FY11FY118

Other Services Other services, ＱＰＲ、ｂｄｂ, and AＩＲsMEMBERS, grew 58.1% year-on-year.
 Due to the impact of the quake, annual sales were slightly short of the fullyear target of ¥700M.

FY10(Actual)

FY11(Actual)¥680M

280→¥410M
FY12 TargetTotal ¥1 billion
60→¥160M¥430M
80→¥100M
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Unit Price, Number of Active Clients/Contacts and VIP Clients
FY11FY10Indicator

Unit

Average unit price per order
（*1）

1Ｑ

2Ｑ

3Ｑ

4Ｑ
(Full Yr)

1Ｑ

2Ｑ

3Ｑ

4Ｑ
(Full Yr)

000 yen

728

703

729

700

797

822

835

787

000 yen

712

683

711

685

773

791

800

755000 yen

510

494

524

485

539

522

520

498

Clients

659

995

1,270

1,441

904

1,386

1,675

1,895

Contacts

1,452

2,481

3,477

4,188

2,221

3,870

4,988

6,067

Clients

151

144

155

144

242

240

240

229

Clients

（27）

（25）

（29）

（27）

（59）

（58）

（55）

（53）

Average unit price per order（Counting conventional
research as one project）（*1）

Average unit price perorder(automatic rch only)（*1）

Number of activeclients（*2）

Number of active contacts（*2）

Number of VIP clients（*3）

Number of clients with avg
qrtly sales over ¥10M（*4）(*1) The services of the former YVI were not included in the calculation of the average unit price for the year ending June 30, 2011. Orders for qualitative research were not included in the calculation of the quarterly average unit price per order.
(*2) The number of companies/services whose sales were posted at least once from the beginning of the fiscal year to the quarter(*3) Priority clients with annual sales of ¥10 million or more are defined as VIP clients. Annual sales are calculated based on year-to-date sales. For example, the number of VIP clients for the second quarter is the number of clients with year-todate sales of ¥5 million.
(*4) The number is calculated based on year-to-date sales.

10Personnel Status
FY10

FY11

Indicator

Unit

1Ｑ

2Ｑ

3Ｑ

4Ｑ

1Ｑ

２Ｑ

３Ｑ

4Ｑ

Number ofemployees

People

356

297

297

309

605

553

545

557

People

295

288

289

298

596

542

528

542

(consolidated) （*）

Number ofemployees(non-consolidated) （*）(*) The number of employees includes contract employees and employees on leave.

 Number of Employees by FunctionOthers include:

Sales
Approx. 125

Operation
Approx. 82

ResearcherApprox. 130

Global, New businessdevelopment, Monitor
support, etc.

* Executive officers and employees on leave are not included.
* Figures as of July 1, 2011

The number of employees on non-consolidated basis increased due toabsorption of a subsidiary (Brand Data Bank, Inc.).
 Number of new graduates joining April, 2011: 611

Panel Status
FY10
Indicator

Unit

Macromillpanelists

Thousandpeople

FY11

1Ｑ

2Ｑ

3Ｑ

4Ｑ

1Ｑ

2Ｑ

3Ｑ

874887903

926940 1,002

4Ｑ

985 1,040

 We carried out confirmation of the ability to distribute questionnaires to all panelists in theprefectures(*) hardest-hit by the earthquake. Although the number of panelists declined temporarily,
it recovered to reach the record-high as of the end of June, 2011.

PC Panelists
Macromill Panelists

1,040,000
Former Voice PortPanelists* As of June 30, 2011

Mobile Panelists
Yahoo!
Research Monitor

PC and mobile
phone panelists:
270,000

1,240,000

Mirumoba
panelists(Mobile phonepanelists): 60,000* As of April, 2011(*) We carried out confirmation of the ability to distribute questionnaires to all panelists in Aomori Prefecture, Iwate Prefecture, Miyagi Prefecture, Fukushima Prefecture,
Ibaraki Prefecture and Chiba Prefecture.

Mobile phonepanelists
Uchico junior highand high school
panelists: 10,000

122. FY12 Plan

FY12 Financial Plan(million yen, %)FY12 (FY ending June 30, 2012)
1st Half

2nd Half

AmountAmountFY11(Actual)

Full-year
AmountRatio tosale(%)

YoY(%)

AmountRatio tosales(%)(consolidated)
Net sales

7,000

7,200

14,200

100.0

116.3

12,210100.0

Ordinary income

1,455

1,445

2,900

20.4115.0

2,522

20.7

730

770

1,500

10.6

128.1

1,171

9.6

Net sales

6,940

7,060

14,000

100.0

114.6

12,212100.0

COGS/SG&A

5,180

5,420

10,600

75.7

114.0

9,300

76.2

Personnel

2,030

2,070

4,100

29.3

110.1

3,724

30.5

Other

3,150

3,350

6,500

46.4

116.6

5,576

45.7

Ordinary income

1,760

1,640

3,400

24.3

116.8

2,912

23.8

Net income

1,020

950

1,970

14.0

138.3

1,424

11.7

Net income(non-consolidated)

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Assumptions for FY12 Plan Aiming for sales and profit growth for threeconsecutive years to achieve all-time high・ Sales growth (YoY 116.3%）
116.3%）, Profit growth(YoY 115.0%）
115.0%）

 Growing sales by 16%
・ Online research: ¥10.5B→
10.5B→¥11.7B, YoY up 11%* Domestic online research market is estimated to grow around 10%10%(Macromill estimate based on FY2010 market report by JMRA）
JMRA）.

・ QPR, bdb, AIRsMEMBERS: ¥0.7B→
0.7B→¥1B, YoY up 43％
43％・ Conventional Research: ¥1B→
1B→¥1.3B, YoY up 30％
30％
・ Overseas sales (Macromill China): Sales ¥0.2B

 Maintaining 20% or higher consolidated profit margin,
while keeping investment for future growth・ Consolidated ordinary income ¥2.9B, profit margin 20.4%(breakdown) Macromill ¥3.4B (24.3％(24.3％), MM-CUBE ▲¥0.2B
M-WARP ▲¥0.3B, Macromill China (no major impact)
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Overview of FY12 Plan(million yen)

Net Sales

16.3rowg%

Ordinary Incometh1Forecast%5 .0Net Incomethw
ogr

1%.
28

Forecast

wtogr

hForecast16

Dividend Policy
 Resolved year-end dividend per share for FY11(interim: ¥7.5+commemorative¥2.5, year-end: ¥9)

 Expected dividend per share for FY12
Full Year: ¥21 (interim: ¥10, year-end: ¥11), Payout ratio: 39.2%→ maintaining payout ratio of 30% or moreup ¥2 from FY11up ¥4.5 from FY10

Past dividend payouts and plan for FY12(yen)

期末配当

中間配当

20
1549.4%

44.4%
31.4%

786639.2%
32.4%

30.8%

105

連結配当性向997.5

7.50
2007/613円yen2008/614円yen

2009/616.5円yen

2010/616.5円yen* Figures are adjusted for 1:200 stock split on January 2011.
* Payout ratio for FY12 is calculated based on the number of shares outstanding as of June 30, 2011.

50%
40%

9117.5+2.5

10

2011/619円yenForecast
2012/6（予想）21円yen

30%
20%
10%
0%

17

Capital Policy
Please refer to the press releases on August 3, 2011 for more details.
Notice of Issuance of Euro Yen Zero Coupon Convertible Bonds due 2014
Notice of Share Repurchase
Notice of Cancellation of Treasury Stock
Notice of Share Repurchase through ToSTNeT-3 Off-Hours Trading System Successfully issued Euro Yen CB for ¥5B. Proceeds plan to be used torepurchase shares and to make strategic investments as below.
1. ¥2.5B

Share Repurchase to improve capital structure

2. ¥2.44B R&D and investments into “development of new business domains and innovations”
Investment and M&A aimed at the “acceleration of expansion of business overseas”

 Improve capital structure for higher return to shareholders.
1. Dividend increase
2. Cancellation of Treasury Stock (1,605,200 shares: 5.2% of total issued stock)
3. Extensive share repurchase (¥2.5B: approx.10% of total issued stock)
4. Final dilution after conversion estimated to be around 2%

18

Future Business Plan

Please refer to theMedium-Term Management Plan
released on Aug. 3, 2011.

19

We aspire to become Japan’s largest andstrongest IT marketing company and one of
the world’s most unique companies.

20Cautionary Statement

Macromill does not guarantee the accuracy of the information
contained in this presentation, which reflects judgments madeby Macromill management based on information currentlyavailable.
Given that the business environment may vary significantly inthe future due to a number of factors, please be aware that
Macromill’s actual performance and results may differ fromthose expressed today.

Inquiries regarding information contained in this presentation:
IR Unit, Finance and Accounting Division, Macromill Inc.
Tel: 03-6716-0706 Fax: 03-6716-0701
E-mail： ir@macromill.com
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