Summary of Consolidated Financial Results
for the Fiscal Year Ended March 31, 2021 [IFRS]
Listed Company:
M3, Inc.
Securities Code:2413
Representative:(Title) CEO(Name) Itaru TanimuraContact:(Title) Director(Name) Eiji Tsuchiya
General Meeting of Shareholders:June 25 ,2021
Dividend payment commencement date: June 10, 2021
Submission of securities report:
June 28, 2021
Preparation of explanatory materials for quarterly financial result: Yes
Assembly for briefing of financial results: Yes (For Analysts)

Apr 23, 2021

Listed Stock Exchange: Tokyo
URL: https://corporate.m3.com/
TEL: 03-6229-8900(Amounts of less than one million yen are rounded)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2021
(From April 1, 2020 to March 31, 2021)(1) Consolidated Operating Results (Cumulative)(% figure show year-on-year change)
ProfitTotal
Operatingattributable toNet sales
Pre-tax profit
Net profit
comprehensive
profitowners of theprofit
parent company
MillionMillionMillionMillionMillionMillion%%%%%%Yen
YenYenYenYenYen
Fiscal Year ended
169,198 29.2 57,972 68.8
58,264 68.3
41,198 70.6
37,822 74.8
43,766 96.0
March 31, 2021
Fiscal Year ended
130,973 15.8 34,337 11.5
34,610 11.9
24,153 13.1
21,635 10.5
22,331
4.3
March 31, 2020

1.

Basic
earnings per
share

Dilutedearnings pershare

Net profit margin on
equity attributable to Total asset to pre-tax Operating profit
profit ratio
owners of the parent
margincompany%%%

Yen
Yen
Fiscal Year ended
55.73
55.68
20.7
23.5
34.3
March 31, 2021
Fiscal Year ended
31.89
31.88
16.3
19.3
26.2
March 31, 2020
(Ref)
Equity in earnings of affiliated companies for the fiscal year ended March 31, 2021: -28 million yen
Equity in earnings of affiliated companies for the fiscal year ended March 31, 2020: -110 million yen(2) Consolidated Financial Position

As of March 31, 2021
As of March 31, 2020

Equity attributable
Ratio of equity
to owners of the attributable to owners
parent company of the parent company

Total assets

Net equity

Million Yen
273,123
221,839

Million Yen
207,260
171,601

Million Yen
199,813
166,11173.2
74.9(3) Consolidated Cash Flow Position

Fiscal year ended
March 31, 2021
Fiscal year ended
March 31, 2020%

Equity per share
attributable toowners of theparent company
Yen
293.64244.24

Cash and cash
equivalents at the endof the period
Million Yen

Cash flow fromoperating activities

Cash flow frominvesting activities

Cash flow fromfinancing activities

Million Yen

Million Yen

Million Yen

46,627

3,592-11,615

89,144

26,789-49,883

43,40047,948－1－

2.

Dividends

Annual dividends per shareFirst
quarter-end

Secondquarter
-end

Yen

Yen

Third
Fiscalquarter
year-end
-end
Yen

Yen

Total

Dividendpayout(Total)

Dividendpayout ratio(Consolidated)

MillionYen

Dividend payout
ratio attributable
to the owners ofthe parentcompany(Consolidated)

%

%

Yen

Fiscal year ended
－－
0.00
8.50
8.50
5,768
26.7
4.3
March 31, 2020
Fiscal year ended
－－
0.00
12.00
12.00
8,145
21.5
4.5
March 31, 2021
Fiscal year－－－－－
ending March 31,
0.00
2022 (Forecast)(Note) Dividend forecast for the fiscal year ending March 31, 2022 is currently undetermined. It is to be determined
after consideration of capital needs and condition of cash flow hereafter.

3.

Forecast for the Consolidated Fiscal Year Ending March 31, 2022 (from April 1, 2021 to March 31, 2022)
Forecasts for the fiscal year ending March 31, 2022 are undisclosed due to inability to reasonably estimate domestic
and overseas business impact from the global COVID-19 pandemic. Forecasts will be promptly released as soon as
conditions allow for reasonable estimates.
Notes

※

(1) Changes in significant subsidiaries during the period (changes in specific subsidiaries accompanying changes inscope of consolidation): None
(2) Changes in accounting policies and accounting estimates:(i) Changes in accounting policies required by IFRS: None(ii) Changes in accounting policies other than item (i) above: None(iii) Changes in accounting estimates: None
(3) Number of shares issued (common stock)(i) Number of shares outstanding at the end of the period (including treasury stock)
As of March 31, 2021
As of March 31, 2020

678,785,600
678,645,600(ii) Number of treasury stock at the end of the period

45,067

As of March 31, 2021

sharessharesshares65,002shares

As of March 31, 2021

678,664,147

shares

As of March 31, 2020

678,454,248

shares

As of March 31, 2020(iii) Average number of shares during the period (cumulative)※

This summary of financial reports is outside the scope of the review procedures for quarterly financial statements.

※

Explanation of proper use of financial results forecasts, and other special matters(Caution regarding statements concerning the future)
The forward-looking statements herein are based on information available to the Company and on certain
assumptions deemed to be reasonable at the date of publication of this document. They are not intended as theCompany’s commitment to achieve such forecasts, and actual results may differ significantly due to various factors.
(Explanatory materials for financial results)
Explanatory materials for financial results will be posted on our website on Friday, April 23, 2021.
－ 2 －4.

Qualitative Information on Results(1) Explanation of consolidated operating results
In Japan, various services are provided for the 300,000+ physician members (as of April 23, 2021) via the“m3.com” website designed for medical professionals.
Medical Platform includes services which allow member physicians to proactively receive continuous andfrequent information via the “m3.com” platform such as the “MR-kun” family services, marketing researchcapabilities paneling the physician members, and “QOL-kun” which provides marketing support for nonhealthcare related corporates desiring to advertise daily life services to doctors, offering a wide menu of services
catering towards various agendas and purposes of our clients. Additionally, provision of next generation sales
reps, or “Medical Marketers,” and healthcare advertisement agency services are also being expanded via groupcompanies.
Evidence Solution includes clinical trial related services centered around “Mr. Finder” which excavates
institutions and patient participants for clinical studies, large-scale clinical study services, assistance withclinical trial operations by CROs, and administrative and operations support across the entire clinical trial
process by SMOs, all provided through various group companies.
Career Solution provides job search and placement services for physicians and pharmacists through M3 Career,Inc.
Site Solution provides services supporting medical institutions.
Furthermore, consumer facing services such as the “AskDoctors” (https://www.AskDoctors.jp/) website whichconnects public users with “m3.com” member physicians for answers to daily health questions, medical
professional education such as national examination preparatory services provided by TECOM Corporation, andequity method affiliate LINE Healthcare Corporation established with LINE Corporation to operate an online
healthcare business, are all being expanded.
In Overseas, the U.S. portal website, “MDLinx,” designed for healthcare professionals, continues to expand its

member network based services catering towards pharmaceutical companies, as well as its career support services
for physicians and clinical trial support services. In Europe, the “Doctors.net.uk” U.K. portal website is expanding
services for pharmaceutical companies, along with pharmaceutical database services offered by the Vidal Group in
France, Germany, and Spain. Health business expansion continues in China and India as well.

Additionally, membership and panel participation at websites operated by M3 group starting with Japan, U.S.,
Europe, China, and Korea, now totals roughly 6 million physicians, enabling provision of marketing researchservices that span across a global scale.

－3－Consolidated results for the fiscal year (cumulative)
Fiscal year ended
March 31, 2020
(April 1, 2019 toMar 31, 2020, cumulative)(Unit: Million Yen)

Fiscal year ended
March 31, 2021
(April 1, 2020 toMar 31, 2021, cumulative)

Fiscal year comparison

Net sales

130,973

169,198+38,225+29.2%

Operating Profit
Pre-Tax Profit

34,337

57,972+23,635+68.8%

Net Profit

34,61058,264+23,655+68.3%

24,153

41,198+17,045+70.6%.
(Segment results)

Medical Platform
Evidence Solution
Career Solution
Site Solution
Overseas
Other Emerging
Businesses
Adjustment

Fiscal year ended
March 31, 2020
(April 1, 2019 toMar 31, 2020,
cumulative)(Unit: Million yen)
Fiscal year
comparison

Segment Net Sales

51,27077,076+25,806+50.3%

Segment Profit

19,25337,903+18,650+96.9%

Segment Net Sales

21,365

19,473-1,892-8.9%

Segment Profit

4,699

3,618-1,081-23.0%

Segment Net Sales

15,393

13,537-1,857-12.1%

Segment Profit

4,151

3,753-398-9.6%

Segment Net Sales

12,223

16,555+4,332+35.4%

Segment Profit

944

1,537+594+62.9%

Segment Net Sales

29,96142,147+12,186+40.7%

Segment Profit

5,722

12,599+6,877+120.2%

Segment Net Sales

3,286

3,328+41+1.3%

Segment Profit

513

950+436+85.0%

Segment Net Sales(2,526)(2,919)－－Segment Profit(945)(2,387)－－Net Sales

130,973

169,198+38,225+29.2%

Operating Profit

34,337

57,972+23,635+68.8%

Total1)

Fiscal year ended
Mar 31, 2021
(April 1, 2020 toMar 31, 2021,cumulative)

Medical Platform

Due to a rapid increase in demand from pharmaceutical companies in response to the COVID-19 pandemic,
Medical Platform segment sales reached 77,076 million yen, higher by 50.3% versus previous year. Upfront
investments aimed for future growth have raised SG&A mainly around personnel costs, however, Medical Platformsegment produced profits of 37,903 million yen, higher by 96.9% versus previous year.
2)

Evidence Solution

Temporary halt in projects due to the COVID-19 pandemic produced total sales of 19,473 million yen, lower by
8.9% versus previous year. Segment profit was 3,618 million yen, lower by 23.0% versus previous year.
3)

Career Solution

Dampened activity mainly from pharmacists due to COVID-19 impact resulted in sales of 13,537 million yen,lower by 12.1% versus previous year, and profit of 3,753 million yen, lower by 9.6% versus previous year.
－4－4)

Site Solution

An increase in affiliate medical institution brought segment sales to 16,555 million yen, higher by 35.4% versus
previous year, and profit of 1,537 million yen, higher by 62.9% versus previous year. Negative impact from COVID19 has proven to be limited regarding this segment.
5)

Overseas

Effects from the COVID-19 pandemic impacted an increase in demand in online services, resulting in rapid
growth in APAC regions as well as an increase in COVID-19 related clinical trial services in the US. Segment
sales were 42,147 million yen, higher by 40.7% versus previous year, and profit amounted to 12,599 million yen,higher by 120.2% versus previous year.
6)

Other Emerging Businesses

Although investment in new businesses such as telemedicine has increased, recovery trend from negative
impact of COVID-19 has brought segment sales to 3,328 million yen, higher by 1.3% versus previous year, andprofits were 950 million yen, higher by 85.0% versus previous year.

Combining all of the above, results for the entire group for the twelve months ended March 31, 2021, amounted
to sales of 169,198 million yen, higher by 29.2% versus previous year, and operating profit of 57,972 million yen,higher by 68.8% versus previous year. Pre-tax profit was 58,264 million yen, higher by 68.3% versus previous year,and net profit was 41,198 million yen, higher by 70.6% versus previous year.

------------------------------------------------------------------------------------------------------------------------------------------------------------------Disclaimer: This document is a translation of the original Japanese version. The original Japanese version was prepared and disclosed by the Company
in accordance with Japanese accounting standards. This document does not contain or constitute any guarantee and the Company will not compensate
for any losses or damages arising from interpretations or actions taken based on this document. In the case of any discrepancies between the Japaneseoriginal and this document, the Japanese original is assumed to be correct.

－5－