3542 M-VEGA 2021-07-30 15:00:00
2022年3月期 第1四半期決算説明資料 [pdf]

1
1

2

3

4

5
    2
1




    3
4
    ¥




            ¥
    ¥



1




        2

                5
    ¥

¥




        6
VISION




         7
                               50,000 100,000




                                 700 1,000
               10,000 30,000




3,000 10,000     300 500



   100


  FY2022                          FY2026



                                                8
◼
◼
                                                    500 600   1,000
                            21 - 26 %




                    190
                                        34 - 40 %
    132     134



     2019    2020    2021    2022                      2026
      3       3       3       3                         3

                                                                      9
1.




2.




3.




     10
2




    11
         4,811   YoY   90.6 %
           747   YoY   292.2 %
    1Q
         4,519   YoY   -% ※
           245   YoY   32.8 %


•
•
•




•


                                 12
4,519                    245



        5,349   100.0%     5,166     100.0%   4,519   100.0%     -

        3,170    59.3%     2,987      57.8%   2,535    56.1%     -

        2,421    45.3%     2,238      43.3%   2,289    50.7%     -

         748     14.0%         748    14.5%    245      5.4%   32.8%
                                                               ( 502)

         757     14.2%         757    14.7%    252      5.6%   33.3%
                                                               ( 504)

         461      8.6%         461     8.9%    157      3.5%   34.2%
                                                               ( 303)




                                                                        13
        25




4,519        22   24%           19,000 20,500



 245         19   25%   1,000           1,300



 252         19   24%   1,030           1,330



 157         20   25%    618             798




                                                14
    •



        1,300     1,700
    •
                6.8% 8.3%


                 500
        1,000     1,300




•



                            15
8,000                                                                                                          748                                             800




6,000                                                                                                                                                          600
                                                                                                       5,166
                                                                                                                                             4,737
                                                                                                                                                       4,519
                                                                                                                     4,372
                                                                                                                             409   4,094         417
4,000                                                                                        3,572                                                             400
         3,270                 3,413         3,333         3,230       3,257    3,069
                  2,868
                                                                                                                                       249               245

2,000                                                                                                                                                          200
                                                                                                 102
             71
                                                                   7       20
    0                                                                                                                                                          0
                                                                                        14
           1Q       2Q           3Q            4Q            1Q          2Q       3Q           4Q         1Q            2Q           3Q        4Q       1Q
                          95
-2,000                                 142           129                                                                                                       -200




                                                                                                                                                                      16
       55.3   55.6   56.1                 55.3
                            54.4   54.2
                     2.0                         52.2
       2.7    3.0           1.9           2.6                         51.0
50.3                 2.2
                            2.0
                                   3.4    1.3                                       49.8
       2.9    2.6
                                   1.7           3.4           48.7          48.1
2.2                                              0.6                  5.0
2.5                                                            4.7                  5.4
                                          13.0          43.0          1.1    4.9
       12.2   12.9   15.1   12.9                               1.0                  1.0
                                   12.2          11.0                        0.9
                                                        3.1
10.7                                                    0.6           11.3
                                                               10.7          9.9    10.3
                                                        8.3
                            11.9          12.6
       13.0   11.9   11.5          11.6          12.1
10.5
                                                        8.1    10.4   11.3   10.6   11.0




16.8   16.6   17.7   18.1   18.4   18.5   18.5   18.4
                                                        17.2   16.0   16.5   16.2   15.8




7.7     8.0   7.5    7.2
                            7.3    6.8    7.4    6.6    5.7    6.0    5.7    5.7    6.2


1Q     2Q     3Q     4Q     1Q     2Q     3Q     4Q     1Q     2Q     3Q     4Q     1Q




                                                                                           17
6,892   6,062   3,023   2,316

3,028   2,046    500     500

1,897   1,631     61      67

1,521   1,834   3,084   2,384

1,331   1,340   5,091   4,993

 520     509    5,138   5,018

8,223   7,402   8,223   7,402



                                18
3




    19
                                                                                                                                           GMV          YoY 90.6%
                                                                                                                                                        YoY 86.2%
6,000
                                                                                                                          5,312
5,000
                                                                                                                                  5,138
                                                                                                                                                                        4,963           4,811
                                                                                                                                                                                4,655
                                                                                                                                          4,474 4,326                                     4,428
                                                                                                                                                        4,263
                                                                                                                                                                4,013
4,000
                                    3,512                                                                   3,678 3,532
        3,342 3,249                         3,391   3,408 3,308   3,287 3,204   3,326 3,233
                                                                                              3,134 3,045
                      2,940 2,845
3,000



2,000



1,000



   0
            1Q            2Q            3Q             4Q            1Q             2Q            3Q            4Q           1Q              2Q            3Q               4Q           1Q




                                                                                                                                                                                                  20
                                                                                    7.5pt

                                                                                                    51.9%
                                                                                                            53.9%
                                                                                                             53.9%

5,000                                                                   46.4%    49.5%   48.7%



                                                                39.8%
4,000
                                                                         2,847
                                                                                                    2,388     2,219
                                                        34.4%
                                                30.3%                            2,259
                                                                                            2,188
3,000
                                        25.6%
                24.0%           24.5%                           2,213
        22.7%
                        21.5%
                                                2,318   2,056
2,000                                   2,444
                                2,571
        2,584   2,234   2,757
                                                                         2,463
                                                                                 2,214
                                                                                                    2,574   2,591
                                                                                                              2,591
1,000                                                                   2,463               2,075
                                                                1,464
                                                1,007   1,076
         757     704     753     835     841

   0
        1Q      2Q      3Q      4Q      1Q      2Q      3Q      4Q       1Q      2Q         3Q      4Q        1Q




                                                                                                                      21
1,100
                                              1,036                                                     1,035
1,000
                                     891
 900                                                  865
        820   808                                                                           818
                                                                                      783
 800                752     746
                                                 116.3%                                           720
                                                              696
 700                              99.2%                                   664
                                                                    652
                98.6%                                                           628
 600

 500

 400

 300

 200

 100

   0                                                                                                            -100.0%

          4             5                 6               7    8     9    10    11    12     1     2      3




                                                                                                                          22
                                                                                                                       1,988
2,000   1,915

1,800                                         1,756   1,725
                                      1,719
                      1,677
                                                                                               1,621
              1,575                                                                                    1,573
1,600
                              1,479
                                                  102.1%       1,369   1,379                                   1,402
1,400                             88.2%                                        1,307   1,335
                 82.3%
1,200

1,000

 800

 600

 400

 200

   0                                                                                                                           -100.0%

          4              5                6                7     8       9      10      11      12       1       2       3




                                                                                                                                         23
                  47.0          17.9      18.0   17.9
         46.5            46.4                           17.7
 46.2

                         17.6
                                                                16.6
                                   44.2   43.9
                17.1
                                                                       15.4   15.5
16.3                                                                                 15.2
        16.1
                                                 43.9                                       14.6
                                                        43.1



                                                               41.0    40.4   40.3   40.2   41.2



 1Q       2Q     3Q       4Q    1Q        2Q      3Q     4Q     1Q     2Q     3Q       4Q    1Q




                                                                                                   24
25
NO COFFEE   Côté jardin   TS2TB




                                  26
                                                  3,000 ~ 10,000




30,000,000                                  400



                                            350
25,000,000


                                            300

20,000,000
                                            250
                                      261
15,000,000                                  200



                                            150
10,000,000
                        155
                                            100

 5,000,000
                                            50
               36
        0                                   0


              2021      2021         2022                 2022
             3    3Q   3    4Q                        3   3
                                 3   1Q



                                                                   27
              95


300
                            95%   5.5


200


                          2.8

100




      0.04         0.2

       2018        2019   2020    2021
       6 8         6 8
                          6 8     6 8


                                         28
1,000,000                                                                                   931,249
                                                                                  851,355
                                                                        771,318
 800,000                                                      710,336
                                                    668,878
                                          557,391
 600,000                        502,438
                      466,340
            432,023

 400,000



 200,000



       0
              1Q        2Q        3Q        4Q        1Q        2Q       3Q         4Q        1Q




                                                                                                      29
                                                 ※




                                                                         20%
12,000                                                           19%             20%
                                                         18%

10,000
         16%     16%     16%     16%     16%     17%
                                                                 9,390   9,458

                                                         8,309                   15%
                                                                 2,133   1,985
 8,000                                           7,229
                                                         2,005
                                         6,139
 6,000                                           1,864                           10%
                                 4,442   1,625
                                                                 5,509   5,583
                         3,783
 4,000           3,480           1,234                   4,820
         3,116
                         1,115                   4,118                           5%
                 1,055                   3,503
         994
 2,000                           2,489
                 1,867   2,053
         1,633
                                                         1,484   1,748   1,891
                                 719     1,011   1,246
         489     558     614
    0                                                                            0%
         1Q      2Q      3Q      4Q      1Q      2Q      3Q      4Q      1Q




                                                                                       30
                                                               ※




30,000

                  24,963   25,392   25,089
         24,486                              24,055
25,000                                                23,566       23,349   23,168   23,091

20,000
         20,574   20,799   20,743   20,314
                                             19,617   19,591       19,864   19,978   20,374
15,000



10,000



 5,000



    0
          1Q       2Q       3Q       4Q       1Q       2Q           3Q       4Q        1Q




                                                                                              31
4




    32
 255      747    292.2%

 567      760    134.1%

1,020    1,232   120.8%

8,756   11,631   132.8%

  37       41    111.1%

 933      980    105.0%

  99      101    102.0%


                          33
                      192 .2 %
                       68 .5 %

                                                                                        192.2%
800
                                                                                                                  747    100.0%



                                                                                                            635
                                                                                             604                  235    80.0%
600                                                                                                                     68.5%
                       66.2%                                                                               226
                               64.8%   64.9%   64.7%   64.9%
              61.4%                                                                                64.4%
      57.2%                                                    56.2%           465           260                         60.0%
                                                                       52.5%
                                                                                                   57.0%
400
                                                               345                   49.9%


                                                                151
                                                                       255     233                                       40.0%

                               213                                                                                512
      194     189       198            194
200                                            170     168              121                                409
                        67      75      68                                                   344                         20.0%
       83      73                               60      59
                                                                               232
                                                                194
       111     116      131     138     126     110     109             134

 0                                                                                                                       0.0%
       1Q      2Q       3Q      4Q      1Q      2Q      3Q      4Q      1Q     2Q            3Q            4Q     1Q




                                                                                                                                  34
800                                                                                                                                       747    100.0%


                                                                                                                               635
                                                                                                                    605
600                                                                                                                                              80.0%

                                                                                                         466

400                                                                                345                                                           60.0%

                                                                                              255
      195                   198        214        195
                 189                                         170        169
200                                                                                                                                              40.0%




 0                                                                                                                                               20.0%

                                                                                         22         30
            80         81         88         72         63         54         39                               43         43         40     36
200                                                                                                                                              0.0%
       1Q         2Q         3Q         4Q         1Q         2Q         3Q         4Q         1Q         2Q         3Q         4Q         1Q




                                                                                                                                                          35
              0.4
      1.3

                    0.03
  2.5%
                           0.02   0.5
2.7                                            0.7
                                                                   2.6

                                         7.5
                                                      80.6
                                        0.7                  0.7

            93 .1                       1.0

                                                0.9




                                                                         36
   5

Appendix




           37
 8,417                  2,800

 2,960            680                           4.3



          3,000
3 2,120




                  9%            23%   33% 35%


                                                      38
39
     60
          2

     50

40
      7                            14
18            20         44   9
               41
     30
                    56        8         52
     33                           16




                                             40
                                                                    994        6%
                                                                          26
                                                                          45
                                                             826          53
                                                                   22
                                                              40         177         48%         48%
                                                              47                           57%         52%   56%
                                                 675                                                                     62%
                                                       18                                                          70%
                                                             153
                                                  37   34
                                     530                                 217
                                           14    133                           94%
                                      25                     184
                         401   10          28
                                     115
             308          15                     156
                   8           22                                                    52%         52%   48%
                          98                                                               43%               44%
 236          10                     131                                                                                 38%
       5
              82   17                                                    476                                       30%
   6
                         112                                 381
  67   13
              92                                 299
  73                                 218
                         144
  71          99


2014        2015        2016        2017        2018        2019        2020




                                                                                                                               41
vega_ir@vega-c.com