Member of the Financial Accounting Standards Foundation(Note) This document has been translated from the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.

Summary of Consolidated Financial Statements
for the Three Months Ended September 30, 2013 [Japan GAAP]
November 8, 2013
Listed Company:
Stock Exchange:
Code Number:
URL:
Representative:
Contact:
Tel.:
Scheduled date of the filing of quarterly report:
Scheduled date of the start of dividend payments:
Supplemental materials for quarterly financial results:
Presentation of quarterly financial results:

MACROMILL, INC.
Tokyo Stock Exchange3730
http://www.macromill.com/
Tetsuya Sugimoto, Chairman and President
Naoya Sugiyama, Director+81-3-6716-0700
November 13, 2013–
Yes
No
(Figures are rounded down to the nearest million yen.)

1. Consolidated Financial Results for the Three Month Ended September 30, 2013 (July 1, 2013 to September 30, 2013)(1) Consolidated Business Performance(Percentages calculated on year-on-year basis.)

Net sales

Operating income

Million yen

Three months ended
September 30, 2013
Three months ended
September 30, 2012
(Note) Comprehensive income%

Ordinary income

Million yen%

Net income

Million yen%

Million yen

%

4,298

8.1

828

(4.8)

749

(14.9)

390(39.8)

3,978

24.2

870

35.8

881

33.1

648

89.1

Three months ended September 30, 2013
Three months ended September 30, 2012

(29.0%)
106.3%

Diluted net income
per share

Net income per share

Three months ended
September 30, 2013

469 million yen
661 million yen

Yen

Yen

6.19

5.81

Three months ended
11.64
9.75
September 30, 2012
(Note) On July 1, 2013, MACROMILL conducted a two-for-one stock split. The net income per share above is calculated as if the stock split had been
conducted at the beginning of the previous fiscal year.
(2) Consolidated Financial Position
Total assets

Net assets

Shareholders' equity ratio

Million yen

Million yen%

As of September 30, 2013

20,034

15,43475.1

As of June 30, 2013
(Reference) Shareholders’ equity

20,173As of September 30, 2013
As of June 201315,363
15,044 million yen
15,000 million yen

74.4

2. Dividends
Dividend per share
End of 1stquarter

Record date

End of 2ndquarter

Yen

Year ended June 30, 2013
Year ending June 30, 2014––

End of 3rdquarter

Yen

Year end

Yen

12.00

–

Annual

Yen

Yen

13.00

25.00

Year ending June 30, 2014
6.50
–
7.00
13.50
(forecast)(Note) Revisions to the dividend forecast published most recently: No(Note) On July 1, 2013, MACROMILL conducted a two-for-one stock split. The annual dividend for the year ending June 30, 2014 (forecast) takes thestock split into account.
3. Forecast of Consolidated Financial Results for the Year Ending June 30, 2014 (July 1, 2013 to June 30, 2014)(Percentages calculated on year-on-year basis.)

Net sales

Operating income

Million yen

First half

9,400

%

12.4

Million yen

1,700

Ordinary income
%

(8.1)

Million yen

1,500

Net income%

Million yen

Net income per share%

Yen(22.4)

900(28.7)

14.27

Full year
19,10011.6
3,400(11.4)
3,000(24.1)(Note) Revisions to the forecast of consolidated financial results published most recently: No

1,700(32.2)

26.96

* Notes(1) Changes in significant subsidiaries during the period (changes in specific subsidiaries accompanied by a change in the scope of consolidation):
New: –
Exception: –(Note) Any changes in specific subsidiaries accompanied by a change in the scope of consolidation during the first quarter under review

No(2) Application of accounting methods unique to the preparation of quarterly consolidated financial statements: No(Note) Application of simplified accounting methods or accounting methods unique to the preparation of quarterly consolidated financial statements(3) Changes in accounting policies and changes or restatement of accounting assumptions(i) Changes in accounting policies associated with the revision of accounting standards, etc.:(ii) Changes in accounting policies other than (i):(iii) Changes in accounting assumptions:(iv) Restatement:

No
No
No
No

(4) Number of shares outstanding (common stock)(i) Number of shares issued (including
As of September 30, 2013 63,171,350 shares
As of June 30, 2013 63,159,350 shares
treasury stock) at the end of the term:(ii) Number of shares of treasury stock at
As of September 30, 2013
81,519 shares
As of June 30, 2013
102,074 sharesthe end of the term:(iii) Average number of shares during theFirst three months ended
First three months ended
63,083,957 shares
55,743,236 sharesperiodSeptember 30, 2013
September 30, 2012
(Note) On July 1, 2013, MACROMILL conducted a two-for-one stock split. The net income per share above is calculated as if the stock split had
been conducted at the beginning of the previous fiscal year.
* Disclosure on Quarterly Review ProceduresThis summary of consolidated financial statements is not subject to quarterly review procedures based on the Financial Instruments and Exchange Act.
The quarterly review procedures for the financial statements are in progress at the time of disclosure of this report.
* Note regarding proper use of results forecasts and other special comments(Note regarding forward-looking statements)
The forward-looking statements, such as results forecasts, included in this document are based on information available to management as of the date ofthe document and certain assumptions that management considers reasonable. Actual results may differ significantly due to a range of factors.

Accompanying Materials ― Contents
1. Qualitative Information on First Three Months Results..................................................................................................................... 2(1)

Description of results of operations ........................................................................................................................................ 2(2)

Description of financial position ............................................................................................................................................ 4(3)

Description of consolidated results forecasts and other forward-looking statements ............................................................. 4

2. Matters Relating to Summary Information (Notes)............................................................................................................................ 4(1)

Significant changes in subsidiaries during the period............................................................................................................. 4(2)

Application of accounting methods unique to the preparation of quarterly consolidated financial statements....................... 4(3)

Changes in accounting policies and changes or restatement of accounting assumptions........................................................ 4

3. Significant Events regarding the Premise of a Going Concern .......................................................................................................... 44. Quarterly Consolidated Financial Statements .................................................................................................................................... 5(1)

Quarterly consolidated balance sheets .................................................................................................................................... 5(2)

Quarterly consolidated statements of income and consolidated statements of comprehensive income .................................. 7
Quarterly consolidated statements of income
First three months of consolidated fiscal year ........................................................................................................................ 7
Quarterly consolidated statements of comprehensive income
First three months of consolidated fiscal year ........................................................................................................................ 8(3)

Notes to quarterly consolidated financial statements.............................................................................................................. 9
Notes regarding the premise of a going concern..................................................................................................................... 9
Significant changes in shareholders’ equity ........................................................................................................................... 9
Segment information .............................................................................................................................................................. 9
Significant subsequent events................................................................................................................................................. 9

1

1. Qualitative Information on First Three Months Results(1) Description of results of operations
In the three months ended June 30, 2013 (from July 1, 2013 to September 30, 2013; hereinafter “the period”), the Japanese economy
was affected by concerns surrounding the global economy, including worries about the U.S. economy and sluggish growth inemerging countries. There were, however, promising signs of economic recovery, given a correction of the excessively strong yen
spurred by expectations in the monetary and fiscal policies of the Abe administration and the Bank of Japan.
In this environment, as described in the plan announced on August 8, 2013, the Macromill, Inc. (the “Company”) and its consolidated
subsidiaries (together, the “Group”) stepped up its efforts to achieve medium- to long-term growth, consolidating the base of its
existing operations and aggressively investing in new businesses.
In the Company’s existing businesses in Japan, which account for most of its sales, results were roughly as planned, reflecting growth
primarily in services for research companies, consulting firms, and companies in the food industry. To provide comprehensive
solutions in response to customers’ expanding needs for marketing services, the Group sought to create high value-added services andenhance its ability to make proposals. Meanwhile, the Group proceeded with cost structure reforms to secure a profit by strengthening
its management system in response to changes in the sales mix associated with diversifying needs for research.
Overseas, the growth of MACROMILL EMBRAIN CO., LTD. in South Korea and MACROMILL China, INC. in China weakened
somewhat due to the effect of business sentiment, but their business scale continued to expand. To develop overseas operations
further, the Group is looking for opportunities for M&A and business alliances.
In new business domains, the Group released an Android version of misecolle, a promotional application for smartphones, in April
2013 and is enhancing the application to increase the number of stores, restaurants, and companies connected with the application as
well as the number of users. The Group plans to launch an iPhone version and a Web version. Questant, a DIY Research service, waslaunched in October 2013. On November 7, 2013, the Group announced that it will launch an expanded point-of-sale (POS) data
estimation service. The Group is steadily developing the service Macromill Market Index, aiming to launch it in April 2014. The
number of users of Antenna, a curation magazine operated by Glider associates, Inc., in which the Company invested in August 2013,
exceeded 1.3 million and is increasing. Antenna is making steady progress towards profitability.
The business environment surrounding the Group is changing drastically, with smart devices rapidly becoming more popular andtechnologies developing. To respond to the change and make a quantum leap in growth, the Group will consolidate the foundations of
its existing businesses and overseas operations while at the same time launching new businesses early and steadily taking them into
profitability. The Group will aggressively expand its businesses to provide research and all sorts of other services in the field of
marketing.
As a result of the above initiatives, in the period, the Company recorded net sales of 4,298 million yen (an increase of 8.1% year onyear), operating income of 828 million yen (down 4.8%), ordinary income of 749 million yen (a fall of 14.9%), and net income of
390 million yen (a decline of 39.8%). Although income declined from a year earlier, the main factor for the decline was investments
in new businesses, and the operating results in the period were roughly as planned.
The following is net sales by service category.
(i) Automatic Research Service
The Automatic Research Service is the market research service using the Automatic Internet Research system (hereinafter “AIRs”)
uniquely developed by the Company. This is the core service of the MACROMILL Group. Demand for research, especially fromresearch companies and consulting firms, was strong, and total net sales in this service segment came to 1,997 million yen (up 6.5%
year on year).
(ii) Tabulation Service
Tabulation Service is a service where, after data collection via AIRs, specialist employees produce specific tables and graphs
matching the purpose of the relevant research. With research becoming more and more complicated, the need for an integrated service
covering everything from fieldwork to data collection, tabulation, and analysis is growing, and total net sales in this service segmentrose 14.9% year on year, to 257 million yen.

2

(iii) Analysis Service
Analysis Service covers designing survey forms and questionnaire as well as producing a range of reports after collecting researchdata. To respond to customers’ increasingly complex research objectives and marketing issues, the Company has enhanced its
researchers’ expertise and skills to make the best proposals. The resulting total net sales in this service segment increased 15.2% year
on year, to 405 million yen.
(iv) Qualitative Research Service (e.g., Group Interview)
Qualitative Research Service carries out group or one-on-one interviews for in-depth insights into the psychology of respondents. As
demand for research increased, the Company sought to enhance productivity and its specialized staff’s ability to respond to
customers’ needs. Orders from the service industry and food industry were strong, and total net sales in this service segment increased
21.9% year on year, to 423 million yen.
(v) Customized Research Service
Customized Research Service prepares tailor-made survey sheets and collects research data for more individualized research projects
beyond the scope manageable by AIRs. Although there is demand for research that requires special methods and unique design, thescope of research that can be handled by automatic research services has expanded as a result of enhancements to the functionality ofAIRs, and research needs have diversified. As a result, total net sales in this service segment fell 12.1% year on year, to 289 million
yen.
(vi) Global Research Service
This service includes research into overseas markets for domestic companies as well as marketing research for overseas companies.
Demand for research into overseas markets continued to increase, and total net sales in this service segment climbed 16.2%, to 166
million yen.
(vii) QPR Service
QPR Service carries out research services that offer data on consumers’ daily purchasing trends that are collected through the special
portable bar code scanner. This service comprises QPR-TRACE, a system that creates reports in a regular format regarding
time-series purchasing trends; QPRMill, an Internet research service that uses QPR panelist surveys; QPR-ANALYZE, a system thatoffers on-the-spot analysis of purchasing trends and can also handle sophisticated tabulation and analysis according to individual
issues; and QPR-SCAPE, a system that provides a profile of purchasers by lifestyle and values. The Group strove to provide higher
added value, and total net sales in this service segment rose 2.3% year on year, to 260 million yen.
(viii) Overseas business domain
Overseas business domain comprises sales of consolidated subsidiaries in China and South Korea. Our subsidiary in China isimproving its structure while accumulating knowledge and expertise. Our subsidiary in South Korea was affected by businesssentiment. Meanwhile, it is improving its sales system and reviewing its cost structure. Total net sales in this service segment
increased 11.0% year on year, to 399 million yen.
(ix) Other Services
Other Services chiefly consist of AIRsMEMBERS (SaaS-type CRM businesses), a service that combines the functionality of AIRs
with customer management (CRM) systems, Brand Data Bank (bdb), a database subscription service that provides consumer profiles
based on surveys of 30,000 panel members into possessions, interests, and brand preferences, Mobile Research Service, a service thatcollects data by using mobile phones, and sales of domestic consolidated subsidiaries. Total net sales in Other Services climbed 6.3%
year on year, to 98 million yen.

3(2) Description of financial position
At the end of the period, assets totaled 20,034 million yen, a decrease of 139 million yen from the end of the previous fiscal year. Thiswas primarily due to an increase in investment securities of 1,515 million yen and a decrease in cash and deposits of 1,609 million
yen.
Liabilities amounted to 4,600 million yen, decreasing 209 million yen, primarily reflecting a decrease in reserves for bonuses of 91
million yen and a reduction in income taxes payable of 52 million yen due to income tax payments.
Net assets were 15,434 million yen, an increase of 70 million yen. This was mainly the result of a decrease of 19 million yen inretained earnings, an increase of 46 million yen in foreign currency translation adjustment, and a rise of 29 million yen in minority
interests.

(3) Description of consolidated results forecasts and other forward-looking statements
There has been no change to the consolidated results forecasts for the year ending June 30, 2014 announced on August 8, 2013.

2. Matters Relating to Summary Information (Notes)(1) Significant changes in subsidiaries during the period
None applicable(2) Application of accounting methods unique to the preparation of quarterly consolidated financial statements
None applicable(3) Changes in accounting policies and changes or restatement of accounting assumptions
None applicable

3. Significant Events regarding the Premise of a Going Concern
None applicable44. Quarterly Consolidated Financial Statements(1) Quarterly consolidated balance sheets(Unit: thousand yen)
As of June 30, 2013
AmountAs of September 30, 2013
AmountAssetsCurrent assets
Cash and deposits

8,668,258

7,058,603

Notes and accounts receivable–trade

3,596,640

3,626,046

Short-term investment securities

1,156,200

1,160,900

Work in process

16,06520,500

Supplies

3,045

2,348

Deferred tax assets

432,026

380,263

Other

257,460

232,550

Allowance for doubtful accounts(34,624)(27,263)

14,095,071

12,453,948

595,214600,523

Software795,335

965,570

Goodwill

1,188,317

1,200,758

558,751

399,006

2,542,403

2,565,335

2,221,330

3,737,200

Other

735,481705,862

Allowance for doubtful accounts(16,091)(28,656)

Total investments and other assets

2,940,720

4,414,407

6,078,339

7,580,265

20,173,410

20,034,214

Total current assets
Fixed assets
Property, plant and equipment
Intangible assets

Other
Total intangible assets
Investments and other assets
Investment securities

Total noncurrent assets
Total assets

5

(Unit: thousand yen)
As of June 30, 2013
AmountAs of September 30, 2013
AmountLiabilities
Current liabilities
Short-term loans payable

240,741

253,825

Accounts payable–other

1,044,812

958,612

Income taxes payable309,631

256,770

Reserve for bonuses

50,264

26,836

Allowance for panelists–points

961,793

870,774

Other

309,803339,385

2,917,048

2,706,205

1,660,000

1,650,000

Provision for retirement benefits

49,07656,780

Provision for directors' retirement benefits

54,696

57,678Asset retirement obligations

128,975

129,448

Total long-term liabilities

1,892,747

1,893,907

4,809,796

4,600,112

Capital stock

1,953,008

1,954,894

Capital surplus

5,711,895

5,715,616

Retained earnings

7,236,609

7,217,423

Treasury stock(40,404)(32,286)

14,861,110

14,855,648

87

3,060

Foreign currency translation adjustment

139,171

186,000

Total of accumulated other comprehensive income

139,259

189,060

Subscription rights to shares

30,61527,470Minority interests

332,629

361,921

Total net assets

15,363,614

15,434,101

20,173,410

20,034,214

Total current liabilities
Long-term liabilities
Bonds with subscription rights to shares

Total liabilities
Net assets
Shareholders' equity

Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities

Total liabilities and net assets

6

(2) Quarterly consolidated statements of income and consolidated statements of comprehensive income(Quarterly consolidated statements of income)(First quarter of consolidated fiscal year)(Unit: thousand yen)First quarter ended
September 30, 2012
AmountFirst quarter ended
September 30, 2013
AmountNet sales

3,978,141

4,298,447

Cost of sales

2,100,823

2,324,294

Gross profit

1,877,317

1,974,152

Selling, general and administrative expenses

1,006,425

1,145,342

870,892

828,810

11,71012,787

176

4,030

Other

10,003

8,503

Total non-operating income

21,89025,321

Interest expenses

3,200

2,268

Commission fee–

94,500Loss on transfer of accounts receivable

377

397

Stock issuance cost

187–

Foreign exchange losses

1,400

3,998

Commission for purchase of treasury stock

2,074

–

Other

4,485

3,435

Total non-operating expenses

11,726

104,599

881,055

749,531

Gain on sales of investment securities

2,846

–

Total extraordinary income

2,846

–

Loss on retirement of fixed assets

3,436

–

Loss on valuation of investment securities

7,823

–

Total extraordinary losses

11,260–

Income before income taxes and minority interests

872,641

749,531

Income taxes–current

260,501

232,946

Income taxes–deferred(49,868)

106,514

Total income taxes

210,633

339,461

Income before minority interests

662,008

410,070

Minority interests in income

13,324

19,384

Net income

648,684

390,686

Operating income
Non-operating income
Interest income
Equity in earnings of affiliates

Non-operating expenses

Ordinary income
Extraordinary income

Extraordinary loss

7

(Quarterly consolidated statements of comprehensive income)(First quarter of consolidated fiscal year)(Unit: thousand yen)First quarter ended
September 30, 2012
AmountFirst quarter ended
September 30, 2013
Amount662,008

410,070

Valuation difference on available-for-sale securities(13,117)

2,972

Foreign currency translation adjustment

12,941

56,735(176)

59,708661,832

469,779

Comprehensive income attributable to owners of theparent company

647,279

440,487

Comprehensive income attributable to minority interests

14,55329,292

Income before minority interests
Other comprehensive income

Total other comprehensive income
Comprehensive income(Comprehensive income attributable to)8(3) Notes to quarterly consolidated financial statements
Notes regarding the premise of a going concern
None applicable

Significant changes in shareholders’ equity
None applicable

Segment information
Overview of reportable segments
The major business of the Group is online research using AIRs. As its economic characteristics and markets where the services are
sold are almost identical, the segments reported by the Company are limited solely to the online research business segment. As aresult, a statement on reportable segments is omitted.

Significant subsequent events
1. Borrowing
Under an agreement on a term loan with a commitment period and credit line with Mizuho Bank, Ltd. concluded by a resolution of
the Board of Directors on August 8, 2013, the Company borrowed funds. Details are as follows:(1) Amount of money borrowed:

5,000,000,000 yen(2) Use of money:

Stock buybacks(3) Date of borrowing: October 9, 2013
2. Stock buybacks
Under a resolution of the Board of Directors on August 8, 2013, the Company bought back its stock according to Article 156 of theCompanies Act, as applied by a reading of the terms under Article 165, Paragraph 3 of the same act. Details are as follows:(1) Period of repurchase:

From October 1, 2013 to October 31, 2013

(2) Number of shares repurchased:

1,680,000(3) Repurchase price:

1,047,807,000 yen

The number of shares repurchased and the repurchase price do not reflect repurchases on or after November 1, 2013.

9