Rizap Group, Inc. · SAPSE:2928
Rizap — Q1 FY2020/3 Earnings Presentation
85 slides from Rizap's earnings presentation, Aug 9, 2019
Slide 1: Earnings Presentation
Earnings Presentation First Quarter of the Fiscal Year Ending March 2020 August 9, 2019 RIZAP GROUP, Inc. (Sapporo Securities Exchange’s Ambitious 2928) Copyright © 2018 RIZAP GROUP, Inc. All rights reserved.
Slide 2: Disclaimer
Disclaimer RIZAP GROUP, Inc. (hereinafter referred to as the “Company”) has produced this document for the provision of corporate information on the Company and the Company’s group companies (hereinafter referred to collectively as the “Company Group”) and it does not constitute an inducement toward
Slide 3: Index
Index Highlights P4 Consolidated results for FY 2020/3 Q1 P5 Highlights of restructuring progress P12 Overview of results by segment P19 Moving to establish the foundations for growth P31 Forecast for FY2020/3 P41 RIZAP business growth strategies P45 Appendix P78 3
Slide 4: Highlights
Highlights 1. Revenue was 53.5bn yen. Record highs for 10 consecutive periods 2. Operating income was 1.4bn yen. Better than planned performance resulted in a shift to the black in Q1 3. Major progress in restructuring listed Group companies (from three companies with operating income in Q1 of last
Slide 5: Consolidated Results for FY2020/3 Q1
Consolidated Results for FY2020/3 Q1 5
Slide 6: Consolidated Results Summary (IFRS)
Consolidated Results Summary (IFRS) (¥ mil) FY2019/3 Q1 FY2020/3 Q1 Change % change (April–June) (April–June) Revenue 51,520 53,501 +1,980 103.8% Cost of sales 27,284 28,446 +1,162 104.2% SG&A 26,437 23,439 -2,998 88.6% Other income and expenses 809 -131 -941 - Operating income or loss (IFRS) -1,390
Slide 7: Return to profitability achieved
Trends in Consolidated Operating Income (¥bn) 1.4 +1.0 0.4 +1.0 +1.0 -1.4 +0.3 +0.3 -2.3 +0.4 Return to +2.3 -3.7 -1.2 profitability -4.9 achieved FY2019/3 Q1 FY2019/3 Q1 FY2019/3 Q1 FY2019/3 Q1 FY2019/3 Q1 FY2019/3 Q1 Increased Increased Increased Increased Other FY2020/3 Q1 Effects of FY2020/3 Q1
Slide 8: Overview of new accounting standards for leases under IFRS 16
Overview of new accounting standards for leases under IFRS 16 (Mandatory application in fiscal years beginning on or after January 1, 2019) ▶IFRS 16 Leases In principle, assets and liabilities are recognized for all lease agreements, recorded as right-of-use assets on the assets side and lease liabi
Slide 9: Effects of IFRS 16 application on Balance Sheet
Effects of IFRS 16 application on Balance Sheet • Rents during the projected lease term. (e.g., a store lease agreement) are recorded to the Balance Sheet at the start of the period. • Assets increased by 48.5 bn yen and liabilities by 62.7 bn yen. Right-of-use Lease (¥bn) assets liabilities 48.5 62
Slide 10: Effects of IFRS 16 application on PL Statement
Effects of IFRS 16 application on PL Statement • Recording lease agreements to the Balance Sheet resulted in decreased rent and increased depreciation. • Operating income grew by 1 bn yen (Q1). Q1 Operating Income Q1 Income Before Tax (¥bn) (¥bn) Increase in depreciation Increase in -2.4 depreciatio
Slide 11: Effects of IFRS 16 application on Statement of Cash Flows
Effects of IFRS 16 application on Statement of Cash Flows While cash flow from operating activities increased due to the shift to processing of rents as repayment of lease liabilities, cash flow from financing activities decreased. There was no effect on cash and cash equivalents. Q1 CF from Operati
Slide 12: Highlights of Restructuring Progress
Highlights of Restructuring Progress 12
Slide 13: Overview of Restructuring
Overview of Restructuring H2 FY2019/3 FY2020/3 FY2021/3 and beyond (October 2018 – March 2019) (April 2019 –) (April 2020 –) Phase I Phase II Phase III (Period for eliminating (Building the foundations for (Toward a growth track) negative factors) growth) Freeze on new M&A activities in principle
Slide 14: Highlights of restructuring progress (1)
Highlights of restructuring progress (1) Previous period This period (FY2019/3 Q1) (FY2020/3 Q1) Strengthening (1) Shifting Q1 operating earnings capacity income to the black through progress on management -3.7bn yen 1.4bn yen (Operating loss of 4.9 bn yen, (Operating income of 400 mn excluding gain
Slide 15: Highlights of restructuring progress (2)
Highlights of restructuring progress (2) Previous period This period (FY2019/3 Q1) (FY2020/3 Q1) Strengthening (4) Reducing the SG&A ratio earnings capacity through Groupwide cost- cutting *1 51.3％ 43.8％ (Improved by 3 bn yen YoY) Improving (5)Reducing interest-bearing financial soundness debt throu
Slide 16: Shifting Q1 operating income to the black through progress on management restructuring
Strengthening earnings (1)Shifting Q1 operating income to the black through capacity progress on management restructuring Strengthening profitability through business model transformation and strategic store closures; improving revenues (gross margin) by optimizing inventories in the apparel and ret
Slide 17: Eliminating losses through sales of unprofitable businesses
Strengthening earnings (2)Eliminating losses through sales of unprofitable capacity businesses Sold Japan Gateway Date of transfer: January 25, 2019 Sold Tatsumi Planning Date of transfer: May 31, 2019 Total operating losses on discontinued operations for both companies FY2019/3 Q1 FY2020/3 Q1 Opera
Slide 18: Expanding earning opportunities by transforming store business models
Management (6)Expanding earning opportunities by transforming strategy store business models <Example: WonderCorporation> Merchandise sales LIVE Shinseido held 1,690 live events during Q1. Focusing on strengthening profitability through a strategic transformation from previous business models 18
Slide 19: Overview of Results by Segment
Overview of Results by Segment 19
Slide 20: Revenue by Segment
Revenue by Segment (¥bn) 51.5 53.5 Beauty/Healthcare +1.1bn yen • Increased revenues from RIZAP businesses (+0.2bn yen) • Increased revenues from MRK (+0.1bn yen) 18.5 • Decreased revenues from SD Entertainment (−0.7bn yen) 17.4 • Effects of recent consolidation: Onko (+0.8bn yen) Lifestyle +3.1bn y
Slide 21: Income or Loss by Segment
Income or Loss by Segment 1.4 (¥bn) 0.2 Increased income in all segments 0.7 Beauty/Healthcare +0.5bn yen • RIZAP businesses (+1.0bn yen) • Increased income from MRK (+0.4bn yen) • Decreased income from Kenkou Communications (−0.2bn yen) -1.3 0.7 • Decreased income from JAPAN GALS (−0.1bn yen) 0.1 -
Slide 22: Beauty and Healthcare Segment: The RIZAP Businesses
Beauty and Healthcare Segment The RIZAP Businesses Revenue (¥bn) 10.7 10.9 Grew steadily 7.4 *The RIZAP businesses: In addition to the RIZAP Body Making business, this also includes the RIZAP-related products and services, the subsidiaries acquired during FY2018/3 including FY18/3 FY19/3 FY20/3 B&D,
Slide 23: MRK Holdings
Beauty and Healthcare Segment MRK Holdings Operating Income (J-GAAP) Income grew by (¥mil) 55 480 mil yen 42 Significant improvements in gross profits thanks to steady sales of main products -425 FY18/3 FY19/3 FY20/3 Q1 Q1 Q1 23
Slide 24: HAPiNS
Lifestyle Segment HAPiNS Operating Income (J-GAAP) (¥mil) Income grew by 28% 62 Gross profit margin increased thanks to stronger sales of strategic products 49 14 FY18/3 FY19/3 FY20/3 Q1 Q1 Q1 24
Slide 25: JEANS MATE
Lifestyle Segment JEANS MATE Operating Income (J-GAAP) Two consecutive periods (¥mil) 195 of operating income Trended higher than levels targeted in plans Booming special demand 137 even after special demand from inbound tourism ran its course. Up YoY on an all-stores basis in June for the first tim
Slide 26: Idea International
Lifestyle Segment Idea International Operating Income (J-GAAP) Record-high operating (¥mil) 629 income achieved Up 50% Sales of the BRUNO hot plates exceeded 1.5 million units. Adding SHICATA to the scope of 401 415 consolidation also contributed. FY17/6 FY18/6 FY19/6 26
Slide 27: Wonder Corporation
Platform Segment Wonder Corporation Operating Income (J-GAAP) (¥mil) Dramatic income growth of 314 320mil yen Now profitable Restructuring in the previous period bore fruit. Store profitability improved. 33 -12 FY18/2 FY19/3 FY20/3 * Due to a change in the end of the fiscal year, FY2019/3 was an irr
Slide 28: WonderCorporation store layout
Platform Segment WonderCorporation Store sales floor layout (example) Rental Before New Stationery CDs/DVDs Books Used Goods CDs/DVDs Used books <Mini 4WD car racing, figures, etc.) Other Trading cards Cosmetics Mobile Rental Converting empty sales After floor space for restructuring New Optimizatio
Slide 29: WonderCorporation live events
Platforms Segment WonderCorporation Trends in Live Performance and Enhancing the music live Recorded Music Markets (¥bn) and festival business. Developing stores linked to pop-up shops 361.7 Recorded music 344.8 Total production by value 240.3 Annual concert sales (Live entertainment) The live perfo
Slide 30: Moving to Accelerate Group E-commerce Businesses
Moving to Accelerate Group E-commerce Businesses Current Group e-commerce share Leading example: Auntie Rosa 5% <Auntie Rosa’s e-commerce improvements> • Improved product deployment and inventory allocation • Improved product images • Optimized promotions • Developed an e-commerce organizational str
Slide 31: Moving to Establish the Foundations for Growth
Moving to Establish the Foundations for Growth 31
Slide 32: Summary of Consolidated Statement of Financial Position
Summary of Consolidated Statement of Financial Position (¥mil) End of FY2019/3 End of FY2019/6 Change Current assets 125,036 113,467 -11,568 Cash and cash equivalents 42,245 35,289 -6,956 Non-current assets 55,385 102,835 +47,449 Property, plant, and equipment 29,028 75,607 +46,579 * Total assets 18
Slide 33: Financial Soundness
Financial Soundness Interest-bearing debt Current ratio *Current ratio = current assets / current liabilities*100 (¥bn) *Current liabilities as of the end of June 2019 do not include lease liabilities 120.7 1,207 (％) 164.6% 151.5% 149.2% 144.6% (excluding lease liabilities) Safety 76.8 77.8 57.0 lev
Slide 34: Reducing Inventories by Promoting Inventory Optimization
Reducing Inventories by Promoting Inventory Optimization Consolidated Inventory Balance Expanding sales channels by (¥bn) 44.3 ascertaining and managing the current status and enhancing cooperation on a RIZAP 40.3 Groupwide basis 37.2 End of June End of September End of June 2018 2018 2019 34
Slide 35: JEANS Mate inventory optimization
Reducing Inventories by Promoting Inventory Optimization JEANS Mate Inventory balance and inventory turnover period Optimizing 20 18 1.8 bn yen Inventory 7turnover period inventories 6 By increasing the precision of purchasing 16 1.4 bn yen and timely changes in sale prices 14 5 5.3 months 12 4 10 4
Slide 36: HAPiNS inventory reduction
Reducing Inventories by Promoting Inventory Optimization Existing HAPiNS Stores New HAPiNS Store At new stores at (Same size as Kinshicho PARCO store) (Kinshicho PARCO store) which the number of Products stocked Products stocked products in stock is reduced by approx. Approx. 4,000 Approx. 900 80%,
Slide 37: Consolidated Statement of Cash Flows (IFRS)
Consolidated Statement of Cash Flows (IFRS) (¥mil) FY2019/3 FY2020/3 Q1 Q1 Change Major factors in FY2020/3 Q1 (April–June) (April–June) Income (loss) before tax (including discontinued operations) -4,034 1,049 +5,083 Effect of IFRS 16: 837 Depreciation and amortization 1,413 3,402 +1,989 Effect of
Slide 38: Improvements to Cash Flow
Improvements to Cash Flow State of Consolidated Cash Flows Cash flows from operating activities: YoY change: +5,184 million yen (¥mil) (YoY change excluding 3,195 million yen effects of IFRS 16: +1,989 million yen) 24,023 *1 • Income before tax: +4,246 million yen • Curtailed increase in inventories
Slide 39: Improvements in Governance: Reforming the Board of Directors
Improvements in Governance: Reforming the Board of Directors Appointment of outside director as chairperson of the Board Before After Chairperson of the Board 12 director 6 director system ① ② system Representative Director Representative Director ① ② ③ Representative Director Outside Outside ③ ④ ⑤
Slide 40: Improvements in Governance: Establishing an Investment/Finance Committee
Improvements in Governance: Establishing an Investment/Finance Committee Board of Directors Prior deliberation Executive Committee Advising, reporting Investment/Finance Committee • Restructuring rules related to investment, finance, and M&As • Deliberating on M&As, alliances, investment, and sellin
Slide 41: Forecast for FY2020/3
Forecast for FY2020/3 41
Slide 42: Progress on Plans for FY2020/3
Progress on Plans for FY2020/3 Revenues Operating income (IFRS) 3.2 bn yen 225 bn yen Q4 Q4 Better than As planned planned Q3 Q3 1.4 bn yen (IFRS 16-excluded basis: 400 mn yen) Q2 53.5 bn yen Q1 Q2 225 Q1 Projected business Actual results Projected business Actual results performance performance 42
Slide 43: FY2020/3 Forecast
FY2020/3 Forecast (¥mil) FY2019/3 FY2020/3 Change % change [Actual] [Forecast] Revenues 222,500 225,000 +2,500 +1.1% Operating income (IFRS) -9,388 3,200 +12,588 - Net income attributable to owners of the parent -19,393 500 +19,893 - FY2020/3 forecasts reflect consideration for the effects of factor
Slide 44: Continuing selection and concentration of businesses
Continuing selection and concentration of businesses in preparation for Phase III of restructuring (toward a growth track) FY2020/3 forecasts will remain unchanged 44
Slide 45: RIZAP Business Growth Strategies
RIZAP Business Growth Strategies 45
Slide 46: RIZAP's goal
RIZAP’s goal Enriching the lives of people around the world through self-realization 46
Slide 47: RIZAP's Goal
RIZAP’s Goal Unleashing personal potential and value to the maximum to build a world where as many people as possible Self- become their best selves actualization Outside Esteem needs scope of business Belongingness and love needs Safety needs Physiological needs 47 47
Slide 48: RIZAP's evolution
RIZAP’s evolution Diets that generate results Extending healthy lifespans RIZAP as a beauty and RIZAP as a healthy living diet business and healthcare business 48
Slide 49: RIZAP's Growth Vision
RIZAP’s Growth Vision (Revenues) Two growth drivers (Time) 2019 49
Slide 50: RIZAP as a beauty and diet business
Diets that generate results RIZAP as a beauty and diet business 50
Slide 51: Body Making
Body Making 1:1 51
Slide 52: Cumulative Number of Members (Body Making)
Cumulative Number of Members (Body Making) (10k people) 13.7 Expanding 11.3 Steadily 8.7 6.4 4.1 1.7 Jun. 30 Jun. 30 Jun. 30 Jun. 30 Jun. 30 Jun. 30 2014 2015 2016 2017 2018 2019 52
Slide 53: Age Distribution of Members (Body Making)
Age Distribution of Members (Body Making) Other 35% 60s or older 5% Teens 2% Massive growth opportunity in the senior segment 40s, 50s 20s, 30s 39% 51% 53
Slide 54: Comparison of Numbers of Members Aged 60 or older
Comparison of Numbers of Members Aged 60 or older (Body Making) 40% Focusing on capturing 34% senior customers from this point forward 5% Sources: Central Sports Co., Ltd., FY2019/3 Settlement of Accounts Central Sports Renaissance RIZAP Explanatory Materials Renaissance, Inc., FY2019/3 Settlement o
Slide 55: Advertising to Target the Middle-aged and Senior Generations
Advertising to Target the Middle-aged and Senior Generations Stressing extending healthy lifespans Track record based on a cumulative total of 130,000 members, reliable physician- supervised programs, etc. • Functional improvements (strengthening legs and lower back, preventing cases in which indivi
Slide 56: Number of Studios
Number of Studios 197 (No. of studios) 158 Studio networks RIZAP Body Making Overseas RIZAP GOLF 134 129 expanding RIZAP ENGLISH for all brands EXPA Other* 122 84 117 8 53 77 29 4 26 51 9 19 15 3 12 25 3 10 51 *Others: LIPTY, RIZAP COOK, RIZAP KIDS, RIZAP 14 2 2 10 1 1 4 2 7 WOMAN, Quolive, Sougym J
Slide 57: Studio openings (RIZAP Body Making)
Studio openings (RIZAP Body Making) Opening studios in major urban areas Focusing on developing business in rural areas in the future Numbers of studios by prefecture (as of end of June 2019) 0 studios 2–5 studios 1 studio 6 or more studios 57
Slide 58: Group Studio 1:N
Group Studio 1:N 58
Slide 59: One-to-Many Service Enhancement
One-to-Many Service Enhancement Session One-to-one One-to-twenty One-to-twenty One-to-eight capacity (maximum) (maximum) (maximum) Subjects Men and women Woman Woman Men and women (middle age) Details Personal Fitness in Diet hot yoga Circuit training the dark training About 300,000 yen About 15,000
Slide 60: Cumulative numbers of members (EXPA/other 1-to-many)
Cumulative numbers of members (EXPA/other 1-to-many) (k people) EXPA 10k Membership has Other 1-to-many (LIPTY＋SOUGYM) surpassed 10,000 since opening Studio No. 1 in November 2017 1k Jun 30 Sep 30 Dec 31 Mar 31 Jun 30 2019 2019 2018 2019 2019 60
Slide 61: Proactive Expansion by Opening new EXPA Studios
Proactive Expansion by Opening new EXPA Studios FY2020/3 Q1 Opened six studios (As of end of July 2019: 13 studios in all) EXPA: Darkroom fitness gyms for women based on the RIZAP method, providing personal, comprehensive support for each member, including not just diet plans, but services such as c
Slide 62: RIZAP Wellness Seminar
RIZAP Wellness Seminar Cumulative No. of people attended the seminar 88 (k people) Companies aiming to promote the health of employees 88,000 people in 1,007 companies Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 FY18/3 FY19/3 FY20/3 62
Slide 63: City of Hiratsuka Adopts Health Improvement Program
City of Hiratsuka Adopts Health Improvement Program with Payment Based on Results Utilizing the RIZAP method in initiatives to reduce healthcare costs for local governments RIZAP trainers provide three months of guidance on exercise and diet. (September – November 2019) A scene from a health-improve
Slide 64: First Collaborative Product from Yoshinoya and RIZAP
First Collaborative Product from Yoshinoya and RIZAP Introduced More than 1 million dishes sold since launch, exceeding plans Strong sales trends thanks to status as a health-oriented product Introduced May 2019 RIZAP beef salad Search RIZAP beef salad (540 yen, tax incl.) 64
Slide 65: RIZAP as a healthy living and healthcare business
Extending healthy lifespans RIZAP as a healthy living and healthcare business 65
Slide 66: Trends in Healthy Lifespans of Japanese People
Trends in Healthy Lifespans of Japanese People Period of poor health Average lifespan for men Average lifespan for women Healthy lifespan (Age) (Age) 84.9 85.9 87.1 79.1 80.9 12.3 12.6 12.3 78.0 8.9 8.8 8.7 73.4 74.8 70.3 72.1 72.7 69.4 2001 2007 2016 2001 2007 2016 Source: Ministry of Economy, Trad
Slide 67: Breakdown of Medical Care Costs
Breakdown of Medical Care Costs One-third of all costs Psychiatric and neurological are associated with conditions 10.9％ lifestyle-related Lifestyle- related conditions. Organ conditions conditions 13.1％ 34.5％ Age-related conditions 15.6％ Source:Ministry of Economy, Trade and Industry, Basic Materia
Slide 68: Metabolic dominos
Metabolic dominos Irregular Domains in which living RIZAP can practices Obesity contribute directly High High blood Lipid blood pressure abnormalities sugar Domains in which RIZAP can contribute Conditions Conditions in partnership with Diabetes related to related to physicians high blood lipid pres
Slide 69: Joint Research with the Institute for Adult Diseases of the Asahi Life Foundation
Joint Research with the Institute for Adult Diseases of the Asahi Life Foundation (an Authority on Diabetes) Applying the results of research to advance RIZAP’s diet methods (Making it possible to configure sugar intake in ways better suited to individual guests) Contributing to research on low- sug
Slide 70: Case Study of Takuro Morinaga: Before/After
Case Study of Takuro Morinaga: Before/After Before Four months later High levels of visceral fat Visceral fat reduced by half increase risk of illness. through diet and exercise! 70
Slide 71: Case Study of Takuro Morinaga: Before/After
Case Study of Takuro Morinaga: Before/After BEFORE AFTER Item (October 16) (February 10) Weight 89.4 69.5 BMI 32.06 24.92 Waist 114 91 (Fasting) blood sugar 136 128 HbA1c 8.4 5.6 Urinary sugar (－) (－) Urinary protein (－) (－) Projected medical care costs in next fiscal year 431,592 yen 167,340 yen He
Slide 72: Case Study of Takuro Morinaga: Before/After
Case Study of Takuro Morinaga: Before/After Overcame challenges through close cooperation with a trainer Combining medical treatment and training Excepted from: Mainichi ga Hakken Net, June 10, 2019 72
Slide 73: Partnerships with Medical Care Institutions Nationwide
Partnerships with Medical Care Institutions Nationwide Introducing a service in which physicians visit studios to advise guests in cooperation with 183 partner medical care institutions across Japan The program allows guests to consult directly with physicians on a wide range of health topics, both
Slide 74: Training Medical Trainers and Introducing Their Services
Training Medical Trainers and Introducing Their Services Enhancing services for healthcare guests by assigning specialized trainers to all stores <Comparison of trainer training contents> Regular Medical Training contents trainers trainers Functional anatomy, biomechanics ○ ○ Special training of hea
Slide 75: Safe, Reliable Membership Criteria
Safe, Reliable Membership Criteria Guests can begin the RIZAP program in safety, under membership criteria supervised by a physician. 96.4% of the approximately 20 million people with or at risk of diabetes can use the program 75
Slide 76: The RIZAP economic sphere
The RIZAP economic sphere A life partner RIZAP for healthy, LIFE happy living Support for self- realization Healthcare Diets that generate programs RIZAP is evolving into a life partner results who supports healthy living and self-realization of customers over the course of their lifetime. 76
Slide 77: Enabling everyone to live lives in which they can appreciate their own value
Enabling everyone to live lives in which they can appreciate their own value 77
Slide 78: Appendix
Appendix. 78
Slide 79: Company Overview (as of the end of March 2019)
Company Overview (as of the end of March 2019) Company name RIZAP GROUP, Inc. Stock code 2928 (Sapporo Securities Exchange’s Ambitious Market) Establishment April 2003 Representative Takeshi Seto, Representative Director, President Capital 19,200,440,000 yen Number of shares outstanding 556,218,400
Slide 80: Results of Listed Group Companies (1)
Results of Listed Group Companies (1) *Based on summary reports of financial results for each company (all but Dream Vision employ J-GAAP) FY2019/3 FY2020/3 (¥ million) Change Overview Q1 Q1 MRK *1 Revenue 4,059 4,256 +197 Increase in revenue and significant increase in operating income thanks to st
Slide 81: Results of Listed Group Companies (2)
Results of Listed Group Companies (2) *Based on summary reports of financial results for each company (all but Dream Vision employ J-GAAP) FY2019/3 FY2020/3 (¥ million) Change Overview Q1 Q1 Wonder *1 Revenue 15,890 14,795 -1,095 Despite the closure of unprofitable stores, income grew, thanks to str
Slide 82: Trends in Operating Income After M&A
Trends in Operating Income After M&A ＊Operating income announced by each subsidiary 3 years 2 years 1 year Year of (¥mil) before before before 1st year 2nd year ３rd year ４th year ５th year ６th year M&A M&A M&A M&A Idea International Sep. 2013 23 84 -526 45 249 182 401 415 620* SD Entertainment Jan. 2
Slide 83: Other Financial KPI
Other Financial KPI Total Equity Equity Ratio (¥bn) 54.7 35.0% 30.4% 30.0% 42.8 40.7 25.0% 18.8% 20.0% 24.6% 15.0% 10.0% *Equity ratio = total equity (net assets) / total liabilities and equity 5.0% *As of Mar. 31, 2019, equity attributable to owners of the parent was 23.5% 0.0% Mar. 31 Mar. 31 Mar.
Slide 84: Ten core companies and segment categories
Ten core companies and segment categories RIZAP Group (Pure holding company) RIZAP Trading Beauty/Healthcare Lifestyle Segment Platform Segment Segment 10 core subsidiaries MRK Idea Dream Marusho Wonder RIZAP RIZAP JAPAN GALS Hotta JEANS Mate HAPiNS HOLDINGS International Vision Corporation Investme
Slide 85: IR Information of Listed Group Companies
IR Information of Listed Group Companies Concentrated the IR websites of listed Group companies RIZAP GROUP, Inc. IR information of listed Group companies www.rizapgroup.com/ir/group/ 85