CROOZ : FY03/23 Second Quarter CEO-Message - Marketscreener.com

Q2 FY03/23

Message from Koji Obuchi, President and CEO of

CROOZ Group

(November 10, 2022)

I am Koji Obuchi, president and CEO of the CROOZ Group. Earlier today, on November 10, 2022, we announced our financial results for Q2 FY03/23. As the representative of the Group, I would like to share my thoughts and impressions to give you a better understanding of our current situation.

For the whole Group, 1H FY03/23 consolidated transaction value totaled JPY14,938mn (-8.6% YoY) and consolidated operating profit came to JPY96mn (-82.0% YoY). Consolidated transaction value for Q2 was JPY7,339mn (-8.3% YoY) while we recorded a consolidated operating loss of JPY149mn (vs. operating profit of JPY106mn in Q2 FY03/22).

The reasons for the year-on-year decrease in consolidated operating profit in Q2 are discussed in detail below, but primarily include the incentive payment based on the Vision for Continual Evolution announced in May 2018 and an operating loss in the mainstay SHOPLIST business.

I would now like to offer a detailed explanation of the results in each business segment.

First, let's look at our E-commerce business. It consists of the SHOPLIST business and other e-commerce related businesses such as e-commerce contract development and operation agency services. However, since the e-commerce-related business is still comparatively small in scale, my focus will remain on the SHOPLIST business. In 1H FY03/23, the SHOPLIST business recorded transaction value of around JPY10,512mn...

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