Financial Results for FY2024
Members Co., Ltd. (TSE 2130)
May 10, 2024

Members Co.,Ltd.

Company Profile
Company nameMembers Co., Ltd.

Locations・Headquarters (Tokyo)
・Sapporo Office
・Web Garden Sendai
・Kanda Office・Gotanda Office・Musashikosugi Office

Mission・Nagoya Office・Sabae Office・Osaka Office
・Web Garden Kobe
・Web Garden Kitakyushu
・Fukuoka Office

Date ofestablishment

June 26, 1995

Consolidated
capital1,057 million yen(as of March 31, 2024) 〔IFRS〕

No. of employees(consolidated)

2,806(as of March 31, 2024)

Consolidated
sales revenue

20,467 million yen(fiscal year ended March 31, 2024)〔IFRS〕

Securities code

2130; Prime Section of Tokyo Stock Exchange

Business content

Digital Talent Accompaniment DX Field Support Program

Create a spiritually rich society through“MEMBERSHIP”
VISION2030

With the power of creators across Japan, we willcontribute to solving social issues centered on
climate change and population decline, and leadthe transformation to a sustainable society.

Joined Japan Climate Leaders’Partnership in October, 2020.

Members Co.,Ltd.

Selected as “Nadeshiko Brand” in2023 as the enterprise for theoutstanding efforts inencouraging women’s success by
METI and TSE

Continuation of 100%
renewable energy from 2020
onwards2

Income Statement Summary• Although sales revenue achieved the revised full-year plan, the added-value sales rate declined due to many large-scale construction projects.
Although the specialized company grew significantly by +43.5% compared to the previous year, it was not able to compensate for the slowdown in
the growth rate of our mainstay web operations division; therefore, consolidated added-value sales did not fully grow and remained at +13.8%.
• Due to the number of DCs increasing 23.4% from the previous year as the large upfront investment in human capital, the operating rate decreased,
and the gross profit margin decreased by 8.4 points from the previous year. In addition to this recruitment investment, we continued to expand
investment in service development such as generation AI, and marketing, then SGA expenses resulted +13.4%.
• Although operating income returned to the black for the full year, the revised full-year plan was not achieved. Net income was almost in line withplan due to financial income and tax incentives to encourage wage increases.
Full year forecast in FY3/2024(revised in October 2023)

Full year result(Unit: million yen)

FY3/2023

FY3/2024

y/y

Revised ForecastVariance

Sales revenue

17,662

20,467+15.9%

20,000+467

Added- value sales

16,886

19,208+13.8%――

Gross profit

5,201

4,292

(17.5%)――(Gross profit margin)

29.4%

21.0%

―

―

―

SGA

3,758

4,263

+13.4%――(SGA ratio)

21.3%

20.8%

―

―

―

Operating profit

1,441

46(96.7%)200(153)(Operating profit margin)

8.2%

0.2%

―1.0%

―Pretax profit

1,399

136(90.2%)

190(53)

Net profit

1,009※

126(87.5%)

130(3)* Due to the application of IAS No. 12 "Corporate Income Tax" (revised in May 2021), net income for the fiscal year ended March 2023 is the figure after retrospective application.
Members Co.,Ltd.

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Balance Sheet Summary
Previous consolidated
accounting year
（Mar. 31, 2023）(Unit: thousand yen)

Current consolidated
accounting year
（Mar. 31, 2024）

AssetsCurrent assets
Cash and cash equivalents
Trade receivables and other receivables
Inventory assets
Other financial assets
Other current assets
Total current assets
Non-current assets
Tangible fixed assets
Rights to use as assets
Goodwill
Intangible assets
Other financial assets
Deferred tax assets
Other non-current assets
Total non-current assets
Total assets
Members Co.,Ltd.

4,479,967

3,776,990

3,387,822

3,847,649

68,54738,897

ー

2,496

234,311

299,828

8,170,648

7,965,861

349,032

325,710

918,446

950,275

116,115

116,115

9,897

7,681

1,340,550

1,739,644

401,188419,105ー

2,692

3,135,231

3,561,225

11,305,87911,527,087
4Balance Sheet Summary
Previous consolidated
accounting year
（Mar. 31, 2023）(Unit: thousand yen)
Liabilities and shareholders’ equity
Liabilities
Current liabilities
Lease liabilities
Trade payables and other payables
Income taxes payable
Contract liabilities
Other current liabilities
Total current liabilities

Current consolidated
accounting year
（Mar. 31, 2024）

360,860
1,201,535
204,338
66,7372,551,526
4,384,998

439,620
1,119,772
96,825
4,816
3,427,062
5,088,097

Non-current liabilities
Lease liabilities
Allowance
Total non-current liabilities
Total liabilities

301,917
252,658554,576
4,939,574

276,211228,069
504,280
5,592,377

Shareholders’ equity
Capital stock
Capital surplus
Treasury shares
Other components of equity
Retained earnings
Total equity attributable to owners of the parent
Total shareholders’ equity
Total liabilities and equity

1,017,504
342,670(300,140)
30,8455,275,424
6,366,305
6,366,305
11,305,879

1,057,867
393,069(698,155)
160,985
5,020,941
5,934,709
5,934,709
11,527,087

Members Co.,Ltd.

5Consolidated earnings forecast for the fiscal year ending March 2025••

Since more than 400 new graduate joined us in April 2024, FY2025 will also be affected by this upfront investment.
Therefore, our plan for the cumulative 2Q will be at the same level of deficit as the previous year, but for the full year,
we plan to gain a slight increase in profit.
We will steadily achieve our plan to increase profit by defining this term as a period of transition from the upfront
investment phase to the monetization phase. We will solidify our foothold to recover profitability from the next term
onward (Operating profit margin target: 5% for FY2026, 10% for FY2027).

(Unit: million yen)

Results for FY 2024 (IFRS)
1st halfyear

y/y increase/decrease rate

Full year

Forecast for FY2025 (IFRS)

y/y increase/decrease rate

1st halfyear

y/y increase/decrease rate

Full yeary/y increase/decrease rate

Sales revenue

9,616

17.1%

20,467

15.9%

10,95013.9%

23,23013.5%

Added- value sales

9,033

15.2%

19,20813.8%

10,38014.9%

22,14015.3%

Operating profit(551)-46(96.7%)

(550)

-

200

326.0%(5.7%)-0.2%-(5.0%)-0.9%-

Operating profit margin

Members Co.,Ltd.

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Cautionary Statement

This document has been translated from a part of 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.

For IR inquiries
Members Co., Ltd.
Corporate Planning Office IR Team
ir@members.co.jp

Members Co.,Ltd.

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