Investor Presentaiton
ALL
Breakdown of Expenses (Cost of Sales & SGA)
Continued active investments for growth (advertising expenses & personnel
expenses) in Business domain.
(\mn)
Personnel Expenses
Subcontract Expenses Comission Fee Rents
Other
Advertising Expenses
5,200
4,800
4,549
4,400
4,030
4,000
$429
3,600
3,435
3,386 727
3,200
3,026
3,113
2,795
552
819
484
2,800
577
612
2,382
234
167
2,400
2,235 2,191
432
172
276
378
345
177
235
38383
391
骨
567
279
163
173
260
2,000
1,757
Sand
243
608
509
144
179
174
494
487
1,600
1,416
*84
453
169
459
131
431
397
425
121
1,188
371
360
1123
1106
126
1,200
1,029
113
110
113
101
370
125
344 153
291
262
147
235
308
115
800
313
196
103
34 75
109
143
160
979
400
468 534 588
723
844
999 1,133
1,350 465 1,523 1,619 1,699 1,867
0
FY11/18 FY11/18 FY11/18 FY11/18 FY11/19 FY11/19 FY11/19 FY11/19 FY11/20 FY11/20 FY11/20 FY11/20 FY11/21 FY11/21
Q3 4Q
Q1 Q2 Q3
Q1
Q2
Q3
4Q
Q1
Q2
Q4
Q1
Q2
16
Advertising Expenses
Increase due to aggressive
investment in Money Forward
Cloud, which saw successful
customer acquisition.
Subcontract Expenses
Increased due to increase
in net sales of X domain.
Personnel Expenses
Increased due to the
expansion of Business
domain and the hiring of new
graduates.
"Other expenses" include communication expenses, amortization, recruiting/training expenses, depreciation, tax expenses included in operating expenses, professional
fee for subsidy implementation projects, etc.View entire presentation