Summary of Consolidated Financial Results for the First Quarterof the Fiscal Year Ending March 31, 2020(Three Months Ended June 30, 2019)[Japanese GAAP]
July 31, 2019

Company name: QUICK CO., LTD.

Listing: First Section, Tokyo Stock Exchange
URL: https://919.jp/

Stock code:
4318
Representative: Tsutomu Wano, Chairman
Contact:
Yasuhiko Hirata, Director, Executive Officer,
General Manager of Administration and Accounting Division
Tel: +81-6-6366-0919
Scheduled date of filing of Quarterly Report:
August 9, 2019
Scheduled date of payment of dividend:
Preparation of supplementary materials for quarterly financial results: None
Holding of quarterly financial results meeting:None(All amounts are rounded down to the nearest million yen.)

1. Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2020
(April 1, 2019 – June 30, 2019)(1) Consolidated results of operations
Net sales
Millions of yen(Percentages represent year-on-year changes.)
Profit attributable toOrdinary profit
owners of parent

Operating profit% Millions of yen% Millions of yen

Three months ended Jun. 30, 2019
6,163
7.5
1,907
6.5
Three months ended Jun. 30, 2018
5,733 18.9
1,790 25.0
Note: Comprehensive income (millions of yen) Three months ended Jun. 30, 2019:
Three months ended Jun. 30, 2018:
Net income per share

Diluted net income per share

Yen

Yen

69.92
65.21

-

Three months ended Jun. 30, 2019
Three months ended Jun. 30, 2018

% Millions of yen

1,917
6.6
1,799 22.3
1,401 (up 6.9%)
1,310 (up 23.7%)

1,318
1,225

%

7.6
16.9

(2) Consolidated financial position
Total assets

Net assets

Millions of yen

Millions of yen

Shareholders’ equity ratio

Net assets per share%

As of Jun. 30, 201912,783
9,326
As of Mar. 31, 201912,592
8,358
Reference: Shareholders’ equity (millions of yen)
As of Jun. 30, 2019:
9,325

Yen

72.9
66.4
As of Mar. 31, 2019: 8,357

494.50443.192. Dividends
1Q-end2Q-endYen

Fiscal year ended Mar. 31, 2019
Fiscal year ending Mar. 31, 2020
Fiscal year ending Mar. 31, 2020 (forecast)
Note: Revisions to the most recently announced dividend forecast: None

Dividend per share
3Q-endYear-end

Total

Yen

Yen

Yen

Yen

19.00

-

23.00

42.00

22.00

-

22.00

44.00

3. Consolidated Earnings Forecast for the Fiscal Year Ending March 31, 2020 (April 1, 2019 – March 31, 2020)
Net sales
Millions of yen(Percentages represent year-on-year changes.)
Profit attributable to
Net income
Ordinary profit
owners of parent
per share

Operating profit%

Millions of yen%

Yen

First half
10,8008.7
2,221 10.1
2,237 10.0
Full year
20,9409.2
2,920 13.1
2,950
4.7
Note: Revisions to the most recently announced consolidated earnings forecast: None%

Millions of yen%

Millions of yen

1,498
1,995

8.3
1.5

79.48
105.84

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in changes inscope of consolidation): None
(2) Application of special accounting methods for presenting quarterly consolidated financial statements: None
(3) Changes in accounting policies and accounting-based estimates, and restatements
1) Changes in accounting policies due to revisions in accounting standards, others: None
2) Changes in accounting policies other than 1) above: None
3) Changes in accounting-based estimates: None
4) Restatements: None

(4) Number of shares outstanding (common shares)
1) Number of shares outstanding at the end of the period (including treasury shares)
As of Jun. 30, 2019:19,098,576 shares

As of Mar. 31, 2019:19,098,576 shares

As of Mar. 31, 2019:

241,173 shares

2) Number of treasury shares at the end of the period
As of Jun. 30, 2019:

241,173 shares

3) Average number of shares outstanding during the period
Three months ended Jun. 30, 2019: 18,857,403 shares

Three months ended Jun. 30, 2018: 18,787,444 shares* The current quarterly financial report is not subject to quarterly review by certified public accountants or accounting firms.
* Explanation of appropriate use of earnings forecasts, and other special items
Cautionary statement with respect to forward-looking statements
Forecasts and forward-looking statements in these materials are based on assumptions judged to be valid and information
available to the Company’s management at the time the materials were prepared. These materials are not promises by theCompany regarding future performance. Actual results may differ significantly from these forecasts for a number of reasons.
For discussion of the assumptions and other factors considered by the Company in preparing the above projections, please referto page 3 of the attachments “1. Qualitative Information on Quarterly Consolidated Financial Performance, (3) Explanation ofConsolidated Forecast and Other Forward-looking Statements.”

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/20

1. Qualitative Information on Quarterly Consolidated Financial Performance(1) Explanation of Results of Operations
During the first three months of the fiscal year ending March 31, 2020, the Japanese economy recovered at amoderate pace, with corporate earnings remaining resilient as well as employment and personal income
continuing to improve. However, the economic outlook was still uncertain, given a number of factors such as anincrease in labor cost due to the tightened labor market, the scheduled increase in the consumption tax rate in
October, and concerns over uncertainty of the overseas economy fueled by the prolonged trade friction between
the U.S. and China, the slowdown in the Chinese economy, and the Brexit from the European Union.
In Japan’s labor market, a shortage of workers is becoming even more severe in a wide range of sectors becauseof structural factors such as declines in the labor force and the working -age population caused by the declining
birthrate and aging population. In May 2019, all the employment -related indicators continued to reflect Japan’slabor shortage. Among others, the seasonally adjusted job openings-to-applicants ratio was 1.62, the seasonallyadjusted job openings-to-applicants ratio for full-time employees was 1.15 and the seasonally adjusted
unemployment rate was 2.4%.
Given this business environment, the QUICK Group expanded operations in new strategic market sectors,
developed new services, and strengthened coordination between the businesses and between the group companies
as well as continued reinforcing the existing services. All of these activities are aimed at differentiating the
QUICK Group from competitors and increasing customer satisfaction by helping solve recruiting and otherlabor-related problems at client companies. Furthermore, the Group has been building a stronger foundation forbusiness operations by aggressively recruiting people with outstanding skills and making other investments inhuman resources.
Under the situation mentioned above, the personnel placement category of the Human Resources Services
Business continued enjoying strong recruiting demand for construction management engineers in the construction
and civil engineering sector as well as engineers in the manufacturing sectors. Such a situation has contributed toa solid expansion in the placements of professionals and technical staff to companies. The personnel placementbusiness for nurses at hospitals, nursing care facilities and other health care facilities also maintained a solid
performance through providing meticulous support for the registrants and conducting more effective promotions
amid intensifying competition brought by competitors who enhanced promotions and investments in humanresources.
In the temporary staffing, temporary-to-permanent staffing and business contracting categories, the temporary
staffing of childcare workers showed a favorable performance thanks to effective promotions and strengthening of
the sales structure and also that of nurses continued to deliver stable results amid increasingly intensifiedcompetition in the medical and welfare sectors. Amid the ongoing situation where hiring regular employees andsecuring full-time temporary staff are more difficult due to labor shortage as a result of the improving
employment situation in Japan, the business remained strong in the temporary staffing for clerical jobs, sales
assistants, and workers for highly specialized IT and internet-related jobs.
Overall, the segment sales increased 10.5% year-on-year to 4,340 million yen and operating profit increased 4.0%
year-on-year to 1,799 million yen.
In the Recruiting Business, under the continuing student-dominant seller’s market in the new college graduate
category due to serious personnel shortage, the volume of business remained favorable main ly in the field ofrecruiting advertisements and services involving joint information meetings and other recruiting events that target
students planning to graduate in March 2020. Furthermore, the volume of business also went well in the field ofrecruiting events and advertisements posted on our internship website launched in June, targeting students whowill graduate in March 2021.
In the mid-career hiring domain, the business of recruiting advertisements to hire regular employees and part-timeworkers also remained resilient. Furthermore, the job placement service under the “indeed” brand, which started
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QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/20

at full scale in the previous fiscal year, also expanded steadily owing to strong demands from our clientcompanies against the backdrop of tough hiring environment.
For some of our media for recruiting registration of temporary staff, the volume of business itself remained
favorable, but the amount of sales decreased year-on-year. This is because, from December 2018, the form ofcontract was changed from the sales agency contract to the sales outsourcing contract, resulting in the recognitionof sales reflecting handling commissions only.
Overall, the segment sales decreased 5.9% year-on-year to 847 million yen but operating profit increased 0.2%
year-on-year to 198 million yen.
In the Information Publishing Business, the performance of “Iezukuri Navi,” a housing information magazine,
was favorable driven by an increase in corporate clients’ completed properties as well as an expansion in theirpromotional needs in preparation for a possible decline in housing demand following the scheduled increase in
the consumption tax rate. Also, we continued achieving solid performance for “Kekkon SANKA,” a wedding
information medium in Hokuriku that has shifted to a ne w style with a focus on fee-charging web media from theexisting paper media since the previous fiscal year, and life-style magazines.
Meanwhile, in the services other than media, sales from posting services including flyers inserted in newspapers
increased steadily. Moreover, the concierge services we operate under the “cococolor” brand posted solid growthin the service lines of house designing and wedding.
Overall, the segment sales increased 10.6% year-on-year to 499 million yen and operating profit increased 49.1%
year-on-year to 41 million yen.
In other businesses, against the backdrop of labor shortage due to improved employment situation, the rise of
personnel and labor related services leveraging HR Tech, and moves made by companies toward work sty lereforms, the Internet-Related Business category saw an increasing interest in HR solution businesses that support
corporate clients’ personnel strategies. As a result, advertising revenues at “Nihon no Jinjibu” (Japan ’s Human
Resources Department), an information portal site for human resources and labor relations, continued to perform
well. Above all, we held the “HR Conference 2019 Spring,” a seven-day human resources event consisting of
three parts, Tokyo, Osaka and TECH DAY, in May, and it hit record highs in both attendance and sales. That, inturn, contributed to expanding the performance of “Nihon no Jinjibu.”
In the Overseas Business, the QUICK USA, Inc. surely captured its corporate client ’s needs such as for
temporary-to-permanent staffing and event staffing, which resulted in steady growth in the temporary staffing
business. However, amid a continued seller ’s market for legal foreign workers within the U.S. caused bytightened labor visa acquisition for foreigners, the personnel placement busine ss was sluggish due to such factors
as declination of job offers by job seekers who call for better employment conditions.
Shanghai QUICK CO., LTD. achieved solid growth in personnel and labor consulting services including its coreadvisory services and education and training and steadily increased its performance of recruitment consulting
services. This is because of the increasing importance of addressing labor problems as well as taking personnel
measures to secure competent human resources and prevent turnover in locally operated Japanese companies in
the midst of growing uncertainty over the country’s future due to the trade conflict between the U.S. and China in
addition to the slowdown in China’s economy. Under these circumstances, the company issued “Salary Survey
2019,” a report that aggregated and analyzed the salary data of 4,132 employees at 186 Japanese companies
operating in China, and it was well received. That also boosted the enhancement of the company ’s businessperformance.
QUICK GLOBAL MEXICO, S.A. DE C.V. continued enjoying strong demand from locally operated Japanese
automakers for interpreters and salespeople. In addition, getting a boost from successful measures such as
promotional activities and seminars to acquire individuals who are bilingual in Japanese and Spanish, thecompany steadily increased its business performance.

2

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/20

Amid continued uncertainty over the outlook of the Brexit-related issues, Centre People Appointments Ltd.
expanded the business of personnel placement within the U.K. by understanding the recruitment needs of local
Japanese companies and strengthening the sales structure. Furthermore, international personnel placement
services (Cross Border Recruitment services) for Japanese companies active in the U.K. and Europe h as started tobear fruit.
QUICK VIETNAM CO., LTD. also showed an excellent performance of recruitment support services for various
local Japanese companies that entered into Vietnam, notably in the construction, manufacturing, apparel and IT
industries.
Moreover, QUICK GLOBAL CO., LTD. worked on initiatives such as providing support to the overseas
subsidiaries for their sales activities as well as tapping Japanese companies seeking for foreign talent andacquiring job seekers who wish to work abroad in order to expand international personnel placement services(Cross Border Recruitment services).
Overall, sales of other businesses increased 4.8% year-on-year to 476 million yen but operating profit decreased
16.4% year-on-year to 76 million yen.
As a result of these factors, sales and earnings set a new first three-month record just as in the same period of theprevious fiscal year. Net sales increased 7.5% year-on-year to 6,163 million yen, operating profit increased 6.5%
year-on-year to 1,907 million yen, ordinary profit increased 6.6% year-on-year to 1,917 million yen, and profit
attributable to owners of parent increased 7.6% year-on-year to 1,318 million yen.
(2) Explanation of Financial Position
Total assets at the end of the first quarter of the fiscal year under review were 12,783 million yen, which was 191
million yen more than at the end of the previous fiscal year. This was mainly the result of increases in cash anddeposits and investment securities despite a decrease in notes and accounts receivable-trade.
Total liabilities were 3,457 million yen, which was 776 million yen less than at the end of the previous fiscal year.
This was mainly the result of decreases in accounts payable-trade and provision for bonuses.
Total net assets were 9,326 million yen, which was 967 million yen more than at the end of the previous fiscal
year. This was mainly the result of an increase in retained earnings due to the booking of profit attributable toowners of parent. Consequently, the shareholders’ equity ratio improved 6.5 percentage points from the end of theprevious fiscal year to 72.9%.
(3) Explanation of Consolidated Forecast and Other Forward-looking Statements
At this point, there are no revisions to the first-half and the full-year consolidated earnings forecasts for the fiscal
year ending March 31, 2020, which were announced in the “Summary of Consolidated Financial Results for the
Fiscal Year Ended March 31, 2019 (Japanese GAAP)” on April 26, 2019.
An announcement will be made promptly if the review of impact on the Group’s business performance requires arevision to these forecasts.

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QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/20

2. Quarterly Consolidated Financial Statements and Notes(1) Quarterly Consolidated Balance Sheet
FY3/19(As of Mar. 31, 2019)(Thousands of yen)First quarter of FY3/20(As of Jun. 30, 2019)

AssetsCurrent assets
Cash and deposits

6,364,521

7,123,819

Notes and accounts receivable-trade

2,061,682

1,648,347

Other621,235

352,809

Allowance for doubtful accounts(2,010)(1,625)

9,045,428

9,123,351

865,528

889,109

6,474

6,238

Tools, furniture and fixtures, net

101,584

108,176Land

276,869

276,869

Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Vehicles, net

Leased assets, net

10,862

9,971

1,261,318

1,290,364

Software151,609

144,810

Software in progress

80,274106,051

Goodwill

118,858

119,074

Other

10,646

10,646

Total intangible assets

361,389

380,583

Investment securities

1,154,136

1,258,172

Leasehold deposits

626,310

625,927

Deferred tax assets

62,95429,316

Total property, plant and equipment
Intangible assets

Investments and other assets

Other

84,60580,307

Allowance for doubtful accounts(3,843)(4,516)

Total investments and other assets

1,924,162

1,989,206

Total non-current assets
Total assets

43,546,870

3,660,154

12,592,299

12,783,506

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/20(Thousands of yen)First quarter of FY3/20(As of Jun. 30, 2019)

FY3/19(As of Mar. 31, 2019)
Liabilities
Current liabilities
Accounts payable-trade545,634

214,713

Short-term borrowings

189,902244,000

Accounts payable-other

1,115,052

935,562

Accrued expenses

520,136

548,183

Income taxes payable

646,929460,020

Accrued consumption taxes

292,621344,862

Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Provision for repayment

475,298

122,657

62,450-18,20020,600Asset retirement obligations

679-

203,472

252,950

4,070,375

3,143,550

Deferred tax liabilities

65,288212,310

Asset retirement obligations

86,83090,739Other

10,998

10,421

Total non-current liabilities

163,117

313,470

4,233,493

3,457,021

351,317351,317

Other
Total current liabilities
Non-current liabilities

Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus

391,392

391,392

Retained earnings

6,968,762

7,853,487

Treasury shares(14,965)(14,965)

Total shareholders’ equity

7,696,505

8,581,230

661,606

738,156

(707)

5,614

660,899743,771

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

5

1,401

1,483

8,358,806

9,326,485

12,592,299

12,783,506

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/20(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statement of Income(For the Three-month Period)First three months of FY3/19(Apr. 1, 2018 – Jun. 30, 2018)(Thousands of yen)First three months of FY3/20(Apr. 1, 2019 – Jun. 30, 2019)

Net sales

5,733,747

6,163,990

Cost of sales

1,740,218

1,804,391

Gross profit

3,993,528

4,359,599

Selling, general and administrative expenses

2,203,143

2,452,526

Operating profit

1,790,385

1,907,072

Interest income

105

138

Dividend income

5,654

6,531

Other

5,905

4,647

Total non-operating income

11,665

11,316

Non-operating income

Non-operating expenses
Interest expenses
Foreign exchange losses
Other
Total non-operating expenses

434

469

1,864

-

44

121

2,343

591

1,799,706

1,917,798

Gain on sales of investment securities-

14,402

Total extraordinary income-

14,402

Loss on retirement of non-current assets

1,746

178

Total extraordinary losses

1,746

178

Ordinary profit
Extraordinary income

Extraordinary losses

Profit before income taxes

1,797,960

1,932,023

Income taxes-current

505,299

466,599

Income taxes-deferred

67,759146,929

Total income taxes
ProfitProfit (loss) attributable to non-controlling interests
Profit attributable to owners of parent

6573,058

613,528

1,224,902

1,318,494

(308)

49

1,225,210

1,318,445

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/20

Quarterly Consolidated Statement of Comprehensive Income(For the Three-month Period)First three months of FY3/19(Apr. 1, 2018 – Jun. 30, 2018)(Thousands of yen)First three months of FY3/20(Apr. 1, 2019 – Jun. 30, 2019)

1,224,902

1,318,494

Valuation difference on available-for-sale securities

93,60076,550Foreign currency translation adjustment(7,939)

6,353

ProfitOther comprehensive income

Total other comprehensive income

85,661

82,904

1,310,563

1,401,399

Comprehensive income attributable to owners of parent

1,311,022

1,401,317

Comprehensive income attributable to non-controllinginterests

(459)

81

Comprehensive income
Comprehensive income attributable to7

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/20(3) Notes to Quarterly Consolidated Financial Statements
Going-concern Assumption
Not applicable.
Significant Changes in Shareholders’ Equity
Not applicable.
Segment Information
I. First three months of FY3/19 (Apr. 1, 2018 – Jun. 30, 2018)
1. Information pertaining to net sales and profit/loss in reportable segments
Reportable Segment
Human
Resources
Services
Business

Recruiting
Business

Information
Publishing
Business

Subtotal

Other(Note 1)

Total

(Thousands of yen)Amount in
the quarterly
Adjustment consolidated(Note 2)statement ofincome(Note 3)

Net sales
Sales to external
3,926,609
901,226
451,322 5,279,158 454,588
5,733,747
5,733,747
customers
Inter-segment
176
1,757
2,781
4,715
9,630
14,346(14,346)
sales and transfers
Total
3,926,785
902,984
454,104 5,283,874 464,218
5,748,093(14,346)
5,733,747
Segment profit
1,730,379
197,878
27,946 1,956,204
91,8292,048,033(257,647)
1,790,385
Notes: 1. “Other” represents the businesses which are not included in any of the reportable segments and mainly consistsof Internet-Related Business and Overseas Business.
2. The (257,647) thousand yen adjustment to segment profit includes elimination for inter-segment transactions of
39,545 thousand yen, and (297,193) thousand yen in company-wide costs that cannot be allocated to any specificreportable segments. Company-wide costs consist primarily of expenses related to the administration division
which are not attributable to any reportable segments, including general affairs and accounting at the Company.
3. Segment profit is adjusted with operating profit shown on the quarterly consolidated statement of income.
2. Information pertaining to impairment losses of non-current assets, goodwill, etc. in reportable segments
Not applicable.
II. First three months of FY3/20 (Apr. 1, 2019 – Jun. 30, 2019)
1. Information pertaining to net sales and profit/loss in reportable segments
Reportable Segment
Human
Resources
Services
Business

Recruiting
Business

Information
Publishing
Business

Subtotal

Other(Note 1)

Total

(Thousands of yen)Amount in
the quarterly
Adjustment consolidated(Note 2)statement ofincome(Note 3)

Net sales
Sales to external
4,340,828
847,707
499,063 5,687,600 476,390 6,163,990
6,163,990
customers
Inter-segment
2,263
2,980
2,345
7,588
2,474
10,063(10,063)
sales and transfers
Total
4,343,092
850,688
501,408 5,695,189 478,864 6,174,053(10,063)
6,163,990
Segment profit
1,799,289
198,318
41,660 2,039,268
76,727 2,115,995(208,923)
1,907,072
Notes: 1. “Other” represents the businesses which are not included in any of th e reportable segments and mainly consistsof the Internet-Related Business and the Overseas Business.
2. The (208,923 ) thousand yen adjustment to segment profit includes elimination for inter-segment transactions of
55,774 thousand yen, and (264,697) thousand yen in company-wide costs that cannot be allocated to any specificreportable segments. Company-wide costs consist primarily of expenses related to the administration division
which are not attributable to any reportable segments, including general affairs and accounting at the Company.
3. Segment profit is adjusted with operating profit shown on the quarterly consolidated statement of income.
2. Information pertaining to impairment losses of non-current assets, goodwill, etc. in reportable segments
Not applicable.
This summary report is solely a translation of “Kessan Tanshin” (in Japanese, including attachments), which has been
prepared in accordance with accounting principles and practices generally accepted in Japan, for the convenience of readers
who prefer an English translation.

8