Summary of Consolidated Financial Results for the Fiscal Year Ended March 31, 2017
[Japanese GAAP]
April 28, 2017

Listing: First Section, Tokyo Stock Exchange
Company name: QUICK CO.,LTD.
Stock code:
4318
URL: https://919.jp/
Representative: Tsutomu Wano, President
Contact:
Yasuhiko Hirata, Director, Executive Officer, General Manager of Administration and Accounting
Division
Tel: +81-6-6366-0919
Scheduled date of Annual General Meeting of Shareholders:June 22, 2017
Scheduled date of filing of Annual Securities Report:
June 22, 2017
Scheduled date of payment of dividend:
June 23, 2017
Preparation of supplementary materials for financial results:
Yes
Holding of financial results meeting:Yes(All amounts are rounded down to the nearest million yen.)

1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2017(April 1, 2016 – March 31, 2017)(1) Consolidated results of operations(Percentages shown for net sales and profits represent year-on-year changes.)
Net sales
Millions of yen

Operating profit%

Millions of yen

Profit attributable toowners of parent

Ordinary profit% Millions of yen

Fiscal year ended Mar. 31, 2017
14,578 16.6
1,998 18.4
Fiscal year ended Mar. 31, 2016
12,498 10.8
1,687 22.0
Note: Comprehensive income (millions of yen) Fiscal year ended Mar. 31, 2017:
Fiscal year ended Mar. 31, 2016:%

Millions of yen

2,073 19.4
1,737 17.1
1,575 (up 36.2%)
1,156 (down 4.5%)

1,391
1,170

%

18.8
18.4

Ordinary profit to Operating profit
Net income per
Diluted net
Return on equity
total assets
to net sales
share
income per share
Yen
Yen
%
%
%
Fiscal year ended Mar. 31, 2017
74.04
26.5
24.9
13.7
Fiscal year ended Mar. 31, 2016
62.30
27.0
24.6
13.5
Reference: Equity in earnings of affiliates (millions of yen): Fiscal year ended Mar. 31, 2017: - Fiscal year ended Mar. 31, 2016: -(2) Consolidated financial position
Total assets

Net assets

Millions of yen

Shareholders’ equity ratio Net assets per share

Millions of yen%

As of Mar. 31, 2017
9,300
5,796
As of Mar. 31, 2016
7,331
4,708
Reference: Shareholders’ equity (millions of yen)
As of Mar. 31, 2017:
5,796

Yen

62.3
64.2
As of Mar. 31, 2016: 4,708

308.51250.64(3) Consolidated cash flows
Cash flows fromoperating activities

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash equivalents
at end of period

Millions of yen

Millions of yen

Millions of yen

Millions of yen

2,000
954

(255)
(221)

(504)
(452)

4,639
3,400

Fiscal year ended Mar. 31, 2017
Fiscal year ended Mar. 31, 2016

2. Dividends
Dividend per share
1Q-end2Q-end

Total

Yen

Yen

Yen

Yen

Yen

Million yen

%

%

-

13.00
14.00

-

12.00
16.00

25.00
30.00

469
563

40.1
40.5

10.8
10.7

-

17.00

-

17.00

34.00

Fiscal year ended Mar. 31, 2016
Fiscal year ended Mar. 31, 2017
Fiscal year ending Mar. 31, 2018
(forecasts)

3Q-end Year-end

Payout ratio(consolidated)

Dividends to
net assets(consolidated)

Total
dividends

41.2

3. Consolidated Earnings Forecast for the Fiscal Year Ending March 31, 2018 (April 1, 2017 – March 31, 2018)
Net salesFirst half
Full year(Percentages represent year-on-year changes.)
Profit attributable to
Net income
Ordinary profit
owners of parent
per share

Operating profit

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen

%

Yen

8,350
16,100

12.1
10.4

1,655
2,170

7.4
8.6

1,698
2,250

7.3
8.5

1,172
1,550

9.1
11.4

62.41
82.50

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

(3) Number of shares outstanding (common shares)
1) Number of shares outstanding at the end of the period (including treasury shares)
As of Mar. 31, 2017:19,098,576 shares

As of Mar. 31, 2016:

19,098,576 shares

As of Mar. 31, 2016:

310,980 shares

2) Number of treasury shares at the end of the period
As of Mar. 31, 2017:

311,017 shares

3) Average number of shares outstanding during the period
Fiscal year ended Mar. 31, 2017:18,787,591 sharesFiscal year ended Mar. 31, 2016:

18,787,596 shares

Reference: Summary of Non-consolidated Financial Results
Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2017 (April 1, 2016 – March 31, 2017)(1) Non-consolidated results of operations(Percentages represent year-on-year changes.)

Net sales
Millions of yen%

Millions of yen

9,833
8,362

17.6
15.8

1,565
1,403

Fiscal year ended Mar. 31, 2017
Fiscal year ended Mar. 31, 2016

Fiscal year ended Mar. 31, 2017
Fiscal year ended Mar. 31, 2016

Operating profit

Ordinary profit% Millions of yen

11.5
28.8

1,800
1,623

Profit%Millions of yen

%

10.9
19.4

1,255
1,123

11.8
22.1

Net income per share Diluted net income per share
Yen
Yen
66.84
59.80
-

(2) Non-consolidated financial position
Total assets

Net assets

Millions of yen

As of Mar. 31, 2017
As of Mar. 31, 2016
Reference: Shareholders’ equity (millions of yen):

Shareholders’ equity
ratio

Millions of yen

7,931
5,295
6,324
4,339
As of Mar. 31, 2017:

Net assets per share

%

5,295

66.8
68.6
As of Mar. 31, 2016:

Yen

281.88230.98
4,339* The current financial report is not subject to audit procedures.
* 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 4 of the attachments “1. Overview of Results of Operations, etc. (4) Outlook.”QUICK CO.,LTD. (4318) Financial Results for FY3/17

1. Overview of Results of Operations(1) Results of Operations
During the fiscal year ended March 31, 2017, the Japanese economy was affected by various factors including
volatility in the stock and foreign exchange markets caused by Britain’s decision to exit the EU. In addition, theafter effects of Kumamoto earthquake and multiple typhoons slowed consumer spending. This led to a persistentstrong sense of stagnation across the economy in general. In the second half of the fiscal year, there was arebound in corporate production and exports in Japan associated with the U.S. economic recovery and decline of
the yen as the power was transferred to the new Trump administration. The Japanese economy recovered slowly
with the support of healthy corporate earnings. However, the outlook is uncertain because of sluggish consumer
spending, doubts about the ability of the Trump administration to implement its policies, and other reasons.
With regard to the domestic employment situation, Japan has a structural labor shortage due to the decline in thelabor force and working-age population caused by the falling birthrate and aging population. To deal with thisissue, the Japanese government has started to take many actions to “reform how people work” with the goals ofboosting productivity and securing a sufficient supply of workers. However, major corporations continue to feellabor shortages and a wide range of industries are working hard on securing human resources. In this environment,
key employment indicators continued to improve. In February 2017, the job openings-to-applicants ratio rose to aseasonally adjusted 1.43 times. Additionally, the unemployment rate was 2.8% (seasonally adjusted) in February,
the first time this figure fell below 3% since December 1994.
Operating in this environment, the QUICK Group strove to reinforce existing services, cultivate new fields offocus and develop new services. In these ways, the Group worked to differentiate itself from competitors andenhance customer satisfaction by providing proposals and services that help solve the recruitment, personnel andmanagement issues at client companies.
As a result, sales and earnings were higher for the seventh consecutive year. Net sales increased 16.6%
year-on-year to 14,578 million yen, operating profit increased 18.4% year-on-year to 1,998 million yen, ordinary
profit increased 19.4% year-on-year to 2,073 million yen and profit attributable to owners of parent increased
18.8% year-on-year to 1,391 million yen. Sales climbed to an all-time high for the second consecutive year,
operating and ordinary profit set a new record for the fourth consecutive year, and profit attributable to owners ofparent was a new all-time high for the fifth consecutive year.
Business segment performance (reportable segments and others) is as follows.
Starting with the fiscal year ended March 31, 2017, the Human Resources Service Business and Recruiting
Business are presented in the reverse order of prior years in order to list the segment with higher sales andearnings first.
(Human Resources Services Business)
1) Personnel Placement
In the personnel placement category of this segment, recruiting needs remained high in the construction, civilengineering, manufacturing and other business sectors. The result was a solid performance regarding theplacement of individuals for positions requiring specialized skills at a variety of companies. In addition,
personnel placement performance benefited from strong demand for the recruitment of nurses at hospitals andnursing care facilities. The result was strong personnel placement sales.
In business sectors and job categories with substantial recruiting needs, competition with other companies toattract people to register for job assignments continued to increase. QUICK responded by stepping up
promotional activities and services for signing up people through websites for personnel placement placements.
For example, there were TV commercials for Automotive Jobs, a service that enables people in the automobile
industry to find another job, and smartphone sites were opened and upgraded. All these activities differentiated
QUICK from competitors and enhanced customer satisfaction.

1

QUICK CO.,LTD. (4318) Financial Results for FY3/17

2) Temporary Staffing, Temporary-to-Permanent Staffing and Business Contracting
In temporary staffing, temporary-to-permanent staffing and business contracting, recruiting workers directly is
becoming increasingly difficult as unemployment in Japan declines. As a result, there was an increase in sales
from the provision of part-time workers, chiefly individuals for IT and Internet jobs and for general office work.
Strong demand for the temporary placement of workers in the medical and welfare sectors also contributed to theperformance of this category. In addition, we met demand at the end of the fiscal year for workers to perform
various IT tasks, such as setting up PCs. This growth made it possible to absorb the increase of growing
preference of job seekers for full-time positions and in promotional expenses for signing up medical and welfare
sector workers amid competition to attract these people among temporary staffing companies.
Segment sales increased 23.0% year-on-year to 8,155 million yen and operating profit increased 31.2%
year-on-year to 1,491 million yen.
(Recruiting Business)
In the mid-year hiring category, growth continued in the volume of recruiting advertisements handled for theregistration of temporary placement workers and part-time workers.
In the new graduate recruiting category, the volume of advertisements targeting university students who plan tograduate in March 2018, for which sales started in March 2017, was held down by intense competition. As a result,sales in this category were about the same as one year earlier.
Sales from services other than advertising increased due mainly to growth in human resources services, aptitude
tests and other services that companies outsource to QUICK.
Segment sales increased 8.6% year-on-year to 3,575 million yen and operating profit increased 2.8% year-on-year
to 903 million yen.
(Information Publishing Business)
In the Information Publishing Business, the volume of housing advertising and town advertising of restaurants
and shops for attracting customers in the mainstream lifestyle information magazines was strong. Businessperformance improved in all areas where the magazines are distributed: Ishikawa, Toyama and Niigata. Moreover,the home information magazine for the Hokuriku area “Iezukuri Navi” continued to perform well. In services
other than advertising, posting services businesses using flyers inserted in newspapers and other publications
achieved growth. In addition, “Cococolor iezukuri,” “Cococolor tenshoku” and other concierge services
continued to perform well.
Segment sales increased 7.5% year-on-year to 1,794 million yen and operating profit increased 55.3%
year-on-year to 68 million yen.
(Other Businesses)
1) Internet-Related Business
A big increase in advertising revenues at “Nihon no Jinjibu” (Japan’s Human Resources Department), an
information portal site for human resources and labor relations, made a significant contribution to sales growth in
this business. The main reason was strong demand for corporate recruiting advertisements and for promotional
activities by human resources service companies that provide support for employee training, employee benefits
and other personnel-related matters.
During the fiscal year, we held HR Conferences, which are events that have grown to attract more than 20,000
people every year, and held an HR Award ceremony to recognize excellence in services and other activities
involving human resources, employee skill development, labor management and other fields. In the fiscal year’s
fourth quarter, we established the HR Consortium as a forum where human resource professionals from many
companies can learn and share their knowledge. These activities heightened QUICK’s reputation as a source of
support for improving human resource management and development capabilities at companies and reinforced the2

QUICK CO.,LTD. (4318) Financial Results for FY3/17“Nihon no Jinjibu” brand.
2) Overseas BusinessIn the United States, the job market is continuing to improve as the economy grows slowly. The personnel
placement business of QUICK USA, Inc. performed well, mainly at the Los Angeles office. The temporary
staffing business also performed well. One reason was increasing orders late in 2016 at the New York office tosupply temporary workers for special events.
At Shanghai QUICK Co., Ltd., even as the growth of China’s economy continued to slow, there was strong
demand for this company’s core personnel and labor consulting services. Shanghai QUICK provided assistancefor designing employee evaluation systems for client companies that are streamlining operations or creating amore productive working environment. Demand was also strong for assistance with revisions to employment rules
and for the proper compensation analysis service. Recruiting consulting services also performed well. In addition,
Shanghai QUICK issued “Salary Survey 2017,” which contains numbers and analysis of salary data for more than
7,000 Chinese employees at companies in China that are affiliated with Japanese companies. The company also
issued “Personnel and Labor Management Laws Handbook 2016,” which explains laws and regulations in Chinathat cover personnel and labor relations. Providing these publications enables Shanghai QUICK to provide evenbetter personnel and labor relations support to client companies.
Segment sales increased 16.1% year-on-year to 1,052 million yen and operating profit increased 83.4%
year-on-year to 182 million yen.
(2) Financial Position
AssetsTotal assets at the end of the fiscal year under review increased 26.9%, or 1,969 million yen, year-on-year to9,300 million yen. This was mainly the result of increases in cash and deposits, notes and accounts
receivable-trade, and investment securities.
Liabilities
Total liabilities at the end of the fiscal year under review increased 33.6%, or 881 million yen, year-on-year to3,504 million yen. This was mainly the result of increases in income taxes payable, accounts payable-other andprovision for bonuses.
Net assets
Total net assets at the end of the fiscal year under review increased 23.1%, or 1,087 million yen, year-on-year to
5,796 million yen. This was mainly the result of an increase in retained earnings due to the booking of profit
attributable to owners of parent.
Consequently, the shareholders’ equity ratio decreased 1.9 percentage points from the end of the previous fiscal
year to 62.3%.
(3) Cash Flows
Cash and cash equivalents (hereinafter referred to as “net cash”) increased 1,238 million yen from the end of theprevious fiscal year to 4,639 million yen at the end of the current fiscal year. Outflows included income taxes paid
and cash dividends paid, while inflows included profit before income taxes.
Cash flows by category are as follows.
Cash flows from operating activities
Net cash provided by operating activities increased 109.5% year-on-year to 2,000 million yen. Negative factors
include income taxes paid of 589 million yen and an increase of 155 million yen in notes and accounts

3

QUICK CO.,LTD. (4318) Financial Results for FY3/17

receivable-trade. Positive factors include profit before income taxes of 2,071 million yen.
Cash flows from investing activities
Net cash used in investing activities increased 15.6% year-on-year to 255 million yen. Negative factors include
purchase of non-current assets of 124 million yen and purchase of investment securities of 80 million yen.
Cash flows from financing activities
Net cash used in financing activities increased 11.5% year-on-year to 504 million yen. Negative factors include
cash dividends paid of 488 million yen and repayments of lease obligations of 14 million yen.
Reference: Cash flow indicators
FY3/13

FY3/14

FY3/15

FY3/16

FY3/17

Shareholders’ equity ratio (%)

58.6

60.1

58.4

64.2

62.3

Shareholders’ equity ratio based on market value (%)

117.4

211.2

228.1

226.0

238.4

Ratio of interest-bearing debt to cash flows (years)

1.1

0.4

0.2

0.2

0.1

Interest coverage ratio (times)

50.5

179.3

344.7

316.2

736.5

- Shareholders’ equity ratio: Shareholders’ equity / Total assets- Shareholders’ equity ratio based on market value: Market capitalization / Total assets- Ratio of interest-bearing debt to cash flows: Interest-bearing debt / Cash flows- Interest coverage ratio: Cash flows / Interest payments
Notes: 1. All indicators are calculated based on consolidated figures.
2. Market capitalization is calculated by the number of shares outstanding at the end of the period, excluding treasury
shares.
3. Cash flows are based on “Net cash provided by (used in) operating activities.”
4. Interest-bearing debt includes all debts on the consolidated balance sheet that incur interest.

(4) Outlook
The Japanese economy is currently recovering slowly as corporate production and exports increase and corporate
earnings improve. The outlook is for the slow recovery to continue because of the Japanese government’s
economic stimulus measures and other reasons. However, we expect that the economic outlook will remain
unclear due to weak private-sector capital expenditures and consumer spending and uncertainty about overseas
economies.
The Japanese government has started taking actions to “reform how people work” in order to raise productivity
and ensure a sufficient supply of workers. Nevertheless, we do not anticipate significant progress concerning
Japan’s labor shortage because of the falling number of children.
In the Human Resources Services Business, competition is expected to grow increasingly stringent in the
personnel placement market. We will address this situation by reinforcing content on the various websites we
operate to sign up more workers for placements and run effective promotions to expand operations in existingdomains. We also plan to cultivate the new category of job placements for specialists. At the same time, we will
focus on developing the skills of our workforce so that people newly hired following graduation and other young
consultants can quickly perform important tasks for human resources services.
In temporary staffing, temporary-to-permanent staffing and business contracting, we plan to continue expanding
the part-time staff placement service that started in the fiscal year ended March 31, 2016. To increase the numberof people registered for this service, we are upgrading the content of “Haken de Part,” a website exclusively forpart-time staffing, and increasing promotional activities. Raising the awareness and perception of this website
brand is another goal. In addition, there will be measures to strengthen sales activities. There will also be
activities to increase the number of people registered for temporary placement assignments in the medical andwelfare sectors.
In the Recruiting Business, increasing the effectiveness of advertisements and accumulating and sharing
knowledge within our organization are two priorities. We also plan to build on the key strength of our extensive
4

QUICK CO.,LTD. (4318) Financial Results for FY3/17

lines of communication between our advertising production team and client companies. We will use thesemeasures to differentiate our recruiting services from those of other companies by providing client companies
with ideas for highly effective recruiting advertisements. Another goal is adding new customers and deepening
ties with existing customers by becoming a source of ideas for products and services for performing outsourced
recruiting tasks, employee training and other activities in addition to recruitment advertisement services. The
objective is to increase the number of Recruiting Business customers.
In the Information Publishing Business, we will make our core lifestyle information and home and wedding
information magazines more appealing by increasing the volume of information and making other improvements.
Another goal is to firmly establish gourmet, housing, travel and other “mook” (magazine + book) category andincrease the variety of these publications. Other initiatives in this business are adding more concierge(face-to-face consultations) locations for housing, switching jobs, weddings and other categories and launching
services in new domains. Our goal is to create media and supply services that can provide benefits for clientcompanies, readers and users alike.
In the Internet-Related Business, we will use our core “Nihon no Jinjibu” website and HR Conferences along withmeasures to strengthen peripheral services in the human resources service industry and hold new types of eventsin order to assist client companies with activities to promote their products and services and attract morecustomers.
In addition, we will use the “Nihon no Jinjibu” brand and infrastructure and start developing new services that
help solve issues faced by human resources professionals. The objective is to increase our clients other than thosein the human resources service industry.
In Overseas Business, we will further strengthen personnel placement and temporary staffing and personnel andlabor consulting. We also aim to establish ourselves as a partner that helps to resolve human resources issues atclient companies.
As a result, we expect consolidated net sales of 16,100 million yen (up 10.4% year-on-year), operating profit of
2,170 million yen (up 8.6%), ordinary profit of 2,250 million yen (up 8.5%), and profit attributable to owners ofparent of 1,550 million yen (up 11.4%) for the fiscal year ending March 31, 2018.
(5) Basic Policy for Profit Distribution, and Dividends in the Current and Next Fiscal Years
Quick positions the return of profits to shareholders as a priority management issue, and endeavors to achievesustainable growth and increase corporate value.
With regard to the dividends of surplus, we aim to enhance our return of profits and augment shareholders’ value
with a basic policy that adopts 40% of profit attributable to owners of parent as our target dividend payout ratio,
taking into consideration such factors as strengthening our financial base and future business developments.
Based on this dividend policy, for the fiscal year under review we forecast an annual dividend of 30 yen per share,
consisting of a dividend of 14 yen at the end of the second quarter and 16 yen at fiscal year-end.
For the fiscal year ending March 31, 2018, we forecast an annual dividend of 34 yen per share, consisting of adividend of 17 yen each at the end of the second quarter and fiscal year-end.
At present, we do not expect to award quarterly or other dividends other than at the end of the second quarter andfiscal year-end.

5

QUICK CO.,LTD. (4318) Financial Results for FY3/17

2. Corporate GroupThe QUICK Group (the Company and its affiliated companies) consists of QUICK CO.,LTD. (the Company), fiveconsolidated subsidiaries and three non-consolidated subsidiaries. Business operations are 1) Human Resources
Services Business, 2) Recruiting Business, 3) Information Publishing Business and 4) Other Businesses(Internet-Related Business and Overseas Business).
A flowchart of the Group’s business operations is as follows.
■ Human Resources Services Business

QUICK CO.,LTD.

○ Personnel placement(The Company)
Career System Co., Ltd.

■ Recruiting Business

QUICK CO.,LTD.
(The Company)

○
○
○
○

Personnel placement
Temporary staffing
Temporary-to-permanent staffing
Business contracting

○
○
○
○

Advertising agency for recruiting advertisements
Provision of recruiting support tools
Education and training
Personnel business contracting■ Information Publishing Business○ Publishing regional information magazines○ Posting regional information magazines○ Concierge (face-to-face consultation) services■ Other Businesses
Internet-Related BusinessiQ CO.,LTD.

Client Companies

Colorful Company, Inc.

○ Operation of the “Nihon no Jinjibu” site
○ Planning and operation of events related to “Nihon no
Jinjibu”○ Web promotion support

Overseas Business

QUICK USA, Inc.

SHANGHAI QUICKCO.,LTD.

Notes:○ Personnel placement○ Temporary staffing○ Personnel and labor consulting

1. Above five affiliated companies are all consolidated.
2. Three non-consolidated subsidiaries are not shown because the effect on the consolidated results is negligible.

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QUICK CO.,LTD. (4318) Financial Results for FY3/17

3. Management Policies(1) Basic Management Policy
Since the time of its establishment, the QUICK Group has provided comprehensive human resources services thatlink people and companies. Themed on human resources, we develop business that contributes to society. Goingforward, we will continue to grow as a company that “contributes to society through the human resources andinformation businesses.”
The QUICK Group conducts personnel placement business, temporary staffing, temporary-to-permanent staffing
and business contracting (Human Resources Services Business); advertising agency business for recruiting
advertisements, education and training, personnel business contracting and provision of recruiting support tools(Recruiting Business); publication and posting of regional information magazines and concierge (face-to-faceconsultation) services (Information Publishing Business); operation of the “Nihon no Jinjibu” site, planning andoperation of events related to the “Nihon no Jinjibu” and supports for Web promotions (Internet-Related
Business); and personnel placement business, temporary staffing and personnel and labor consulting in the UnitedStates and China (Overseas Business).
Taking advantage of the synergistic effects of these businesses, the Group will strengthen its businesses in orderto respond swiftly to market needs, including those of client companies and job seekers. We will also build up oursales structure and strive to enhance management efficiencies.
(2) Performance Targets
In addition to expanding the scale of its operations, the QUICK Group’s policy is to build a profit-orientedorganization that makes effective use of such business assets as its proprietary sales network and expertise in
attracting registrants who wish to change careers. To achieve these goals and in order to attain stable growth andbuild a robust financial foundation, the Group aims to increase its ordinary profit margin and return on equity(ROE) over the medium to long-term.
(3) Medium- and Long-term Management Strategy
The QUICK Group aims to expand its areas of business as a comprehensive human resources services andinformation services company.
To this end, we intend to further strengthen our Human Resources Services Business and Recruiting Business. We
also plan to achieve growth over the medium to long-term through expansion in the Information Publishing
Business, Internet-Related Business and Overseas Business.
In each business, we will engage in business model restructuring and new product and service development andsales. We will strive to build a sales structure to swiftly meet changing market needs and pursue synergies bystrengthening cooperation between businesses.
Furthermore, we will proactively develop our businesses overseas. Through collaboration between our overseas
companies and businesses in Japan, we will develop global human resources services aimed at realizing theconcept of the “Sekai no Jinjibu (Human Resources Department for the world).”(4) Issues to Address
Based on its management philosophy of “making everyone involved happy” and its business philosophy of“contributing to society through the human resources and information businesses,” the QUICK Group aims torevamp existing businesses and propose new services. At the same time, we will continue to invest in strategic
fields and grow in these fields with the goal of becoming the leader in these targeted markets. In the global humanresources business, there are a growing number of Japanese companies that must deal with recruiting andpersonnel and labor issues at their overseas operations. In Japan, companies are having difficulty recruiting
workers because of a labor shortage caused by the country’s falling birthrate and aging population. We will use
numerous activities in order to accomplish our goal of becoming a Sekai no Jinjibu that can help solve the labor
7

QUICK CO.,LTD. (4318) Financial Results for FY3/17

issues of companies in Japan and other countries.
Furthermore, we will enhance education and training programs for our workforce in order to give our people theskills needed to accomplish these goals, thereby enabling the QUICK Group to grow even faster.
The issues in individual businesses are outlined below.
(Human Resources Services Business)
In the personnel placement business, human resources companies are competing fiercely to attract registrants for
specialized jobs in the construction and civil engineering, pharmaceutical, manufacturing, and other businesssectors. Competition is also intense in the nurse job placement market. To succeed, we are upgrading services andcontent on our websites to make them more useful and conducting effective promotional activities. By using avariety of actions, we will make the brands of all our websites more powerful and attract more people to registerfor job placements. In other moves to become more competitive, this business will train and develop the skills ofyoung consultants and enter new markets.
In the temporary staffing, temporary-to-permanent staffing and business contracting business, there is a growing
tendency for companies to hire temporary staffing workers as full-time employees because of Japan’s falling
unemployment rate. Furthermore, in the medical and welfare sector, there is still strong demand for nurses,
nursing care professionals and other people at medical and health care facilities. Attracting a sufficient number ofpeople to register for medical and welfare temporary staffing placements is difficult as a result. We arestrengthening our Group’s “Haken de Part” and “Medicare Career” websites and increasing other promotional
activities and adding more content to websites in order to attract more people to register for medical and welfare
jobs.
(Recruiting Business)
We expect demand for recruiting services at client companies to remain very strong as Japan’s labor shortage
limits the supply of new workers. Competition among recruiting media companies is heated as a result. We plan
to serve more companies by using many activities in addition to recruiting advertisements for increasing points ofcontact with companies. There will be seminars about recruiting techniques and other subjects and heightenedsales activities for outsourced recruiting and other group services. Accumulating and sharing knowledge about
effective recruiting advertising methods is another goal. There will also be measures to build stronger ties
between our advertising production team and client companies. These activities will allow us to create ideas foradvertising that can increase the success of recruiting programs and lower the risk of losing customers.
(Information Publishing Business)
New competitors and intense price competition are creating challenges for this business. We are responding byconducting operations that leverage the resources of our existing businesses. For example, we are increasing thevolume of information in our major media, supplying more variations and increasing the number of locations thatprovide concierge services. We will also strengthen our organization through extensive education and training
programs to reinforce sales capabilities and improve management skills.
(Other Businesses)
1) Internet-Related BusinessWe foresee more growth in the need for promotional activities at human resources service companies because ofactions by the Japanese government regarding its “reforms for how people work.” We will use the power of the“Nihon no Jinjibu” brand and originality of this service to conduct aggressive activities to recruit people to workat the QUICK Group. We want to establish a sound base for consistent medium to long-term growth of theInternet-Related Business.

8

QUICK CO.,LTD. (4318) Financial Results for FY3/17

2) Overseas BusinessIn the United States, there is strong demand for human resources services at client companies as the U.S.
economy slowly recovers. But client companies are recruiting fewer Japanese workers due to the internal demand
growth policies of the Trump administration. Furthermore, we expect that stricter standards for new working visas
and renewals will make it more difficult to register new people for job placements. In response, U.S. operations
are using job fairs, seminars and other measures to attract people for job placements and working on improving
productivity with actions that include price revisions. Recruiting and training activities for QUICK’s own
workforce are another priority in order to strengthen sales activities and the entire U.S. business organization.
In China, there are an increasing number of issues involving labor relations at the local companies as workers
become more aware of their rights. As a result, there is steady growth in the need for personnel and laborconsulting services. To meet this need, we are assembling a new business model in China that can be a one-stopsource of support extending from solving client companies’ recruiting and personnel and labor issues to employee
training programs. We are determined to expand in China by increasing our ability to meet customers’ needs for
streamlining operations, creating a more proactive working environment, preventing labor problems andaccomplishing other goals of client companies.
4. Basic Approach to the Selection of Accounting Standards
The Group will continue to prepare its consolidated financial statements in accordance with Generally Accepted
Accounting Principles in Japan for the time being to permit comparisons with prior years and with the financial
data of other companies.
We will take suitable actions with regard to the application of International Financial Reporting Standards (IFRS)
by taking into account associated factors in Japan and other countries.

9

QUICK CO.,LTD. (4318) Financial Results for FY3/17

5. Consolidated Financial Statements and Notes(1) Consolidated Balance Sheet(Thousands of yen)
FY3/17(As of Mar. 31, 2017)

FY3/16(As of Mar. 31, 2016)
AssetsCurrent assets
Cash and deposits

3,430,787

4,669,428

Notes and accounts receivable-trade

1,625,089

1,784,605

Deferred tax assets

139,289

201,772

Other

301,898

334,404

Allowance for doubtful accounts(8,592)(1,845)5,488,472

6,988,364

963,286

992,752

Accumulated depreciation(574,409)(601,190)

Buildings and structures, net

388,876

391,561

1,433

3,436

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

VehiclesAccumulated depreciation

(430)

(687)

Vehicles, net

1,003

2,749

Tools, furniture and fixtures

131,362

156,133

Accumulated depreciation(81,146)(91,255)

50,21564,877

Land

276,869

276,869

Leased assets

44,06344,063(32,462)(36,147)

11,6007,915

728,565

743,973

Leased assets

27,07816,514

Other

158,711203,055

Total intangible assets

185,789

219,569

Investment securities

528,812882,788

Lease deposits

362,695

410,030

Tools, furniture and fixtures, net

Accumulated depreciation
Leased assets, net
Total property, plant and equipment
Intangible assets

Investments and other assets

Deferred tax assets

920

3,479

Other

40,30970,996

Allowance for doubtful accounts(4,193)(18,527)

Total investments and other assets
Total non-current assets
Total assets

10

928,544

1,348,767

1,842,899

2,312,310

7,331,371

9,300,675

QUICK CO.,LTD. (4318) Financial Results for FY3/17(Thousands of yen)
FY3/17(As of Mar. 31, 2017)

FY3/16(As of Mar. 31, 2016)
Liabilities
Current liabilities
Accounts payable-trade604,301

653,118

Short-term loans payable

191,402

189,902

Accounts payable-other

528,016

713,656

Accrued expenses

309,649

376,407

Lease obligations

14,226

13,895

Income taxes payable311,459

522,873

Accrued consumption taxes

132,549

226,340

Provision for bonuses

242,456

406,918

Provision for directors’ bonuses
Provision for repayment
Asset retirement obligations-

52,45015,60015,000-

1,465

121,488

129,2422,471,149

3,301,271

Lease obligations

24,854

10,959Deferred tax liabilities

89,829153,568

Asset retirement obligations

34,82137,965

Other

1,863

746

Other
Total current liabilities
Non-current liabilities

Total non-current liabilities
Total liabilities

151,368

203,2392,622,518

3,504,510

351,317351,317

Net assets
Shareholders’ equity
Capital stock
Capital surplus

307,998

307,998

Retained earnings

3,825,954

4,728,581

Treasury shares(18,975)(19,019)

Total shareholders’ equity

4,466,294

5,368,878

Valuation difference on available-for-sale securities

231,507420,525

Foreign currency translation adjustment

11,051

6,760

Accumulated other comprehensive income

Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

11

242,558

427,285

4,708,853

5,796,164

7,331,371

9,300,675

QUICK CO.,LTD. (4318) Financial Results for FY3/17(2) Consolidated Statements of Income and Comprehensive Income
Consolidated Statement of Income
FY3/16(Apr. 1, 2015 – Mar. 31, 2016)(Thousands of yen)
FY3/17(Apr. 1, 2016 – Mar. 31, 2017)

Net sales

12,498,855

14,578,829

Cost of sales

5,170,521

5,904,003

Gross profit

7,328,334

8,674,825

Selling, general and administrative expenses

5,640,917

6,676,660

Operating profit

1,687,417

1,998,165

658

355

Non-operating income
Interest income
Dividend income

8,298

8,830

Sale cooperation fee

17,33826,000Book sales commission

12,21920,682

Other

14,78622,853

Total non-operating income

53,30178,721

3,032

2,728

554

387

Non-operating expenses
Interest expenses
Other
Total non-operating expenses

3,587

3,115

1,737,131

2,073,770

7,226

-

7,226

-

-

517

Loss on retirement of non-current assets

13,104

1,399

Total extraordinary losses

13,104

1,916

1,731,253

2,071,853

Ordinary profit
Extraordinary income
Gain on sales of investment securities
Total extraordinary income
Extraordinary losses
Loss on sales of non-current assets

Profit before income taxes
Income taxes-current

539,332

766,970

Income taxes-deferred

23,766(86,221)

Total income taxes

563,098

680,748

1,168,154

1,391,104(2,370)-1,170,524

1,391,104

ProfitLoss attributable to non-controlling interests
Profit attributable to owners of parent

12

QUICK CO.,LTD. (4318) Financial Results for FY3/17

Consolidated Statement of Comprehensive Income
FY3/16(Apr. 1, 2015 – Mar. 31, 2016)(Thousands of yen)
FY3/17(Apr. 1, 2016 – Mar. 31, 2017)

1,168,154

1,391,104(9,433)

189,018

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment(2,127)(4,291)

Total other comprehensive income(11,561)

184,726

1,156,593

1,575,831

Comprehensive income attributable to owners of parent

1,158,970

1,575,831

Comprehensive income attributable to non-controllinginterests(2,377)-

Comprehensive income
Comprehensive income attributable to13

QUICK CO.,LTD. (4318) Financial Results for FY3/17(3) Consolidated Statement of Changes in Equity
FY3/16 (Apr. 1, 2015 – Mar. 31, 2016)(Thousands of yen)
Shareholders’ equity
Capital stock
Balance at beginning ofcurrent period
Changes of items during
period351,317

Capital surplus

Retained earnings

Treasury shares

Total shareholders’equity310,717

3,068,756(18,975)

3,711,815

Dividends of surplus
Profit attributable toowners of parent
Change in ownershipinterest of parent due totransactions with
non-controlling interests
Net changes of items
other than shareholders’equityTotal changes of items
during period
Balance at end of current
period(413,327)(413,327)

1,170,524

1,170,524(2,718)(2,718)-(2,718)757,197-

754,479

351,317

307,998

3,825,954(18,975)

4,466,294(Thousands of yen)
Accumulated other comprehensive income
Valuation
Foreign currency
difference ontranslation
available-for-saleadjustment
securities
Balance at beginning ofcurrent period
Changes of items during
period240,940

13,172

Total
accumulated
othercomprehensive
income254,112

Non-controllinginterests

Total net assets

11,3993,977,328

Dividends of surplus
Profit attributable toowners of parent
Change in ownershipinterest of parent due totransactions with
non-controlling interests
Net changes of items
other than shareholders’equityTotal changes of items
during period
Balance at end of current
period(413,327)
1,170,524(2,718)(9,433)(2,120)(11,554)(11,399)(22,953)(9,433)(2,120)(11,554)(11,399)

731,525

231,507

11,051

242,558-

4,708,853

14

QUICK CO.,LTD. (4318) Financial Results for FY3/17

FY3/17 (Apr. 1, 2016 – Mar. 31, 2017)(Thousands of yen)
Shareholders’ equity
Capital stock
Balance at beginning ofcurrent period
Changes of items during
period351,317

Capital surplus

Retained earnings

Treasury shares

Total shareholders’equity307,998

3,825,954(18,975)

4,466,294

Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
sharesNet changes of items
other than shareholders’equityTotal changes of items
during period
Balance at end of current
period(488,477)(488,477)

1,391,104

1,391,104
(43)

(43)

-

-

902,627(43)

902,584

351,317

307,998

4,728,581(19,019)

5,368,878(Thousands of yen)
Accumulated other comprehensive income
Valuation
Foreign currency
difference ontranslation
available-for-saleadjustment
securities
Balance at beginning ofcurrent period
Changes of items during
period231,507

11,051

Total
accumulated
othercomprehensive
income242,558

Non-controllinginterests

Total net assets-

Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
sharesNet changes of items
other than shareholders’equityTotal changes of items
during period
Balance at end of current
period4,708,853(488,477)
1,391,104(43)
189,018(4,291)

184,726-

184,726

189,018(4,291)

184,726-

1,087,310

420,525

6,760

427,285-

5,796,164

15

QUICK CO.,LTD. (4318) Financial Results for FY3/17(4) Consolidated Statement of Cash Flows(Thousands of yen)
FY3/16
FY3/17(Apr. 1, 2015 – Mar. 31, 2016) (Apr. 1, 2016 – Mar. 31, 2017)
Cash flows from operating activities
Profit before income taxes
Depreciation
Increase (decrease) in allowance for doubtful accounts

1,731,253

2,071,853

102,302125,157

6,989

7,586

Increase (decrease) in provision for bonuses(44,469)

164,461

Increase (decrease) in provision for directors’ bonuses(30,700)

52,450

Increase (decrease) in provision for repayment(2,200)(600)Interest and dividend income(8,956)(9,185)

3,032

2,728

Interest expenses
Loss (gain) on sales of non-current assets-

517

Loss on retirement of non-current assets

13,104

1,399

Loss (gain) on sales of investment securities(7,226)-

Decrease (increase) in notes and accounts receivable-trade(72,188)(155,211)

Increase (decrease) in notes and accounts payable-trade

4,763

49,021

Decrease (increase) in lease and guarantee deposits(59,656)(47,431)

Increase (decrease) in accrued consumption taxes(175,273)

93,791Other, net

86,431

226,655

Subtotal

1,547,207

2,583,193

Interest and dividend income received

8,956

9,186

(3,019)(2,716)(598,420)(589,123)

954,7242,000,540(115,763)(20,966)-

330

Purchase of intangible assets(96,303)(103,853)

Purchase of investment securities(17,402)(80,469)

Interest expenses paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment

Proceeds from sales of investment securities

8,226

-

Payments of loans receivable-(50,000)

Other, net

-

(800)

(221,242)(255,758)

Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term loans payable(700)(1,500)

Repayments of long-term loans payable(11,702)-

Repayments of lease obligations(15,487)(14,686)-(43)

Cash dividends paid
Payments from changes in ownership interests in
subsidiaries that do not result in change in scope of
consolidation(412,637)(488,013)(11,741)-

Net cash provided by (used in) financing activities

Purchase of treasury shares(452,267)(504,243)

Effect of exchange rate change on cash and cash equivalents(1,803)(1,897)

Net increase (decrease) in cash and cash equivalents

279,4101,238,640

Cash and cash equivalents at beginning of period

3,121,376

3,400,787

Cash and cash equivalents at end of period

3,400,787

4,639,428

16

QUICK CO.,LTD. (4318) Financial Results for FY3/17

Segment Information
1. Outline of reportable segments
The reportable segments of the Company are components for which discrete financial information is available andwhose operating results are regularly reviewed by the Board of Directors to make decisions about resource
allocation and to assess performance.
The QUICK Group engages in a diverse range of businesses, including personnel placement and temporary
staffing, providing services related to recruiting advertisement, and publishing regional information magazines.
The Company and its consolidated subsidiaries (hereinafter “business operation companies”) are independent
management units that independently draft comprehensive business strategies and develop business activities foreach business.
Accordingly, the QUICK Group is composed of business-specific segments based on the Company’s business
operating structure and business operation companies. The Group has three reportable segments: Human
Resources Services Business, Recruiting Business and Information Publishing Business. Businesses not includedin these reportable segments are categorized as Other Businesses.
Main activities of the Human Resources Services Business include personnel placement, temporary staffing,
temporary-to-permanent staffing and business contracting. Main activities of the Recruiting Business include an
advertising agency business for recruiting advertisements, provision of recruiting support tools, education andtraining, and personnel business contracting. Main activities of the Information Publishing Business include
publication and posting of regional information magazines, and concierge (face-to-face consultation) services.
The Other Businesses operates the “Nihon no Jinjibu” site, plans and operates events related to the “Nihon no
Jinjibu,” supports Web promotions (Internet-Related Business) and engages in personnel placement, temporary
staffing, and personnel and labor consulting in the United States and China (Overseas Business).
(Changes in the presentation order of the reportable segments)
Starting with the fiscal year ended March 31, 2017, the Human Resources Service Business and Recruiting
Business are presented in the reverse order of prior years in order to list the segment with higher sales andearnings first. Accordingly, reportable segments for the fiscal year ended March 31, 2016 are also reclassified toconform to the current fiscal year’s presentation.
2. Calculation method of net sales, profit/loss, assets and other items in each reportable segment
Profits for reportable segments are generally operating profit.
Inter-segment sales and transfers are based on market prices.

17

QUICK CO.,LTD. (4318) Financial Results for FY3/17

3. Information pertaining to net sales, profit/loss, assets and other items in reportable segments
FY3/16 (Apr. 1, 2015 – Mar. 31, 2016)
Reportable Segment

Net sales
Sales toexternalcustomers
Inter-segment
sales andtransfers
Total(Thousands of yen)Amount intheAdjustment consolidated(Note 2)
financialstatements(Note 3)

Human
Resources
Services
Business

Recruiting
Business

Information
Publishing
Business

Subtotal

Other(Note 1)

Total

6,629,362

3,294,169

1,668,645

11,592,177

906,678

12,498,855-

12,498,855

-

3,272

12,425

15,69871,71887,417(87,417)-

6,629,362

3,297,442

1,681,071

11,607,876

978,396

12,586,273(87,417)

12,498,855

Segment profit

1,136,411

878,561

44,136

2,059,109

99,323

2,158,433(471,015)

1,687,417

Segment assets

2,773,360

1,865,321

927,583

5,566,265

611,710

6,177,975

1,153,396

7,331,371

Other items
Depreciation
3,050
18,347
61,671
7,653
69,32432,978102,30240,274
Increase inproperty, plantand equipment
5,857
12,991
205,362
4,376
209,7382,328
212,066
186,514and intangible
assets
Notes: 1. Other represents the businesses which are not included in any of the reportable segments and mainly consist ofInternet-Related Business and Overseas Business.
2. Contents of adjustments are as follows.
(1) The (471,015) thousand yen adjustment to segment profit includes elimination for inter-segment transactions of
135,037 thousand yen, and (606,053) thousand yen in company-wide costs that cannot be allocated to any
specific reportable segments. Company-wide costs consist primarily of expenses related to the administration
division, including general affairs and accounting at the Company.
(2) The 1,153,396 thousand yen adjustment to segment assets includes elimination for inter-segment transactionsof (165,395) thousand yen, and 1,318,791 thousand yen in company-wide assets that cannot be allocated to any
specific reportable segments. Company-wide assets consist primarily of the Company’s excess funds (cash anddeposits), long-term investments (investment securities), and assets which belong to the administration
division.
(3) The 32,978 thousand yen adjustment to depreciation is the sum of assets which belong to the administration
division that cannot be allocated to reportable segments.
(4) The 2,328 thousand yen adjustment to increase in property, plant and equipment and intangible assets is thesum of assets which belong to the administration division that cannot be allocated to reportable segments.
3. Segment profit is adjusted with operating profit shown on the consolidated statement of income.

18

QUICK CO.,LTD. (4318) Financial Results for FY3/17

FY3/17 (Apr. 1, 2016 – Mar. 31, 2017)
Reportable Segment(Thousands of yen)Amount intheAdjustment consolidated(Note 2)
financialstatements(Note 3)

Human
Resources
Services
Business

Recruiting
Business

Information
Publishing
Business

Subtotal

Other(Note 1)

Total

8,155,566

3,575,889

1,794,595

13,526,050

1,052,778

14,578,829-

14,578,829

Net sales
Sales toexternalcustomers
Inter-segment
sales andtransfers
Total

3,206

6,978

10,476

20,66161,016

81,677(81,677)-

8,158,772

3,582,867

1,805,071

13,546,711

1,113,794

14,660,506(81,677)

14,578,829

Segment profit

1,491,492

903,235

68,5572,463,284

182,1122,645,396(647,231)

1,998,165

Segment assets

3,643,056

2,196,184

1,071,235

6,910,476

775,585

7,686,062

1,614,613

9,300,675

Other items
Depreciation
63,661
3,527
19,39486,583
6,651
93,23531,922
125,157
Increase inproperty, plantand equipment
81,1391,640
45,933
128,71336,650165,363
5,495
170,858
and intangible
assets
Notes: 1. Other represents the businesses which are not included in any of the reportable segments and mainly consist ofInternet-Related Business and Overseas Business.
2. Contents of adjustments are as follows.
(1) The (647,231) thousand yen adjustment to segment profit includes elimination for inter-segment transactions of
126,147 thousand yen, and (773,378) thousand yen in company-wide costs that cannot be allocated to any
specific reportable segments. Company-wide costs consist primarily of expenses related to the administration
division, including general affairs and accounting at the Company.
(2) The 1,614,613 thousand yen adjustment to segment assets includes elimination for inter-segment transactionsof (171,119) thousand yen, and 1,785,732 thousand yen in company-wide assets that cannot be allocated to any
specific reportable segments. Company-wide assets consist primarily of the Company’s excess funds (cash anddeposits), long-term investments (investment securities), and assets which belong to the administration
division.
(3) The 31,922 thousand yen adjustment to depreciation is the sum of assets which belong to the administration
division that cannot be allocated to reportable segments.
(4) The 5,495 thousand yen adjustment to increase in property, plant and equipment and intangible assets is thesum of assets which belong to the administration division that cannot be allocated to reportable segments.
3. Segment profit is adjusted with operating profit shown on the consolidated statement of income.

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.

19