エイベックス・グループ・ホールディングス株式会社
AVEX GROUP HOLDINGS INC.
Highlights of ConsolidatedFinancial Results
First half of
fiscal year ending March 2010
FY ending March 2010
Consolidated business results
First half of
fiscal year ending March 2010

エイベックス・グループ・ホールディングス株式会社
©2009 avex group holdings, Inc.
All Right Reserved
All figures, if not otherwise indicated, are expressed in units of 100million yen. (Amounts of less than 100 million yen are truncated.)
3
Previous
term
Current
term
Change
Forecast
Difference
Sales
563
581
+18
586
-4
Operating income
30
16
-13
-11
+27
Operating income margin
5.5%
2.9%
-2.6%
-1.9%
+4.8%
Ordinary income
20
6
-13
-17
+23
Net income
4
-4
-9
-17
+12
Sales declined in the PC Business,
Sales declined in the PC Business,
but rose in the CC and NC Business. As a result,
but rose in the CC and NC Business. As a result,
Sales were 58.1 billion yen (up 3.2% year on year)
Sales were 58.1 billion yen (up 3.2% year on year)
Operating income stood at 1.6 billion yen,
down 45.0% year on year,
reflecting start-up costs for a new business, among other factors.
First half
Digest of consolidated financial results
©2009 avex group holdings, Inc.
All Right Reserved
All figures, if not otherwise indicated, are expressed in units of 100million yen. (Amounts of less than 100 million yen are truncated.)
4
Overall sales
increased 1.8 billion
yen
, thanks to rises in box office
revenue in the CC Business and EC and MD sales in the NC Business, which offset lower package sales in the PC Business.
Operating income stood at 1.6 billion yen (
down 1.3 billion yen
year on year), primarily because of start-up costs associated with online subscription video distribution for mobile phones, a new business.
563
581
586
30
16
-11
34.3%
34.3%
32.6%
-100
0
100
200
300
400
500
600
700
Previous
term
Current
term
Forecast
Sales
Operating income
Gross profit margin
First half
Summary of consolidated financial results

エイベックス・グループ・ホールディングス株式会社
©2009 avex group holdings, Inc.
All Right Reserved
All figures, if not otherwise indicated, are expressed in units of 100million yen. (Amounts of less than 100 million yen are truncated.)
5
Current term*
Previous term
Forecast
Sales
External
Sales
Sales
External
Sales
Change
in sales
Change in
external
sales
Sales
External
Sales
Difference
in sales
Difference in external
sales
CC
270
98
242
53
+27
+44
278
120
-7
-21
PC
200
190
275
273
-75
-83
186
178
+14
+12
NC
188
181
162
146
+26
+35
186
183
+2
-1
LC
108
98
89
76
+18
+21
100
93
+8
+5
Others
19
11
20
12
-1
-1
19
12
+0
-0
Total
786
581
791
563
-5
+18
769
586
+17
-4
* Considering the evolving market environment and changes in the roles and operations of Group companies, royalties on
master recordings among Group companies were reviewed in the second quarter of the fiscal year ending March 2010.As a result, sales in the CC Business rose 1.4 billion yen.
First half
Consolidated sales by business segment
©2009 avex group holdings, Inc.
All Right Reserved
All figures, if not otherwise indicated, are expressed in units of 100million yen. (Amounts of less than 100 million yen are truncated.)
6
Operating income
Current
term*
Previous
term
Forecast
Change
Change
CC
-21
-2
-19
-43
+21
PC
-2
7
-10
-11
+8
NC
21
23
-1
28
-6
LC
5
2
+3
5
+0
Others
2
3
-0
1
+1
Total
5
34
-28
-20
+25
Elimination
and corporate
11
-3
+14
9
+2
Total
16
30
-13
-11
+27
-50
-40
-30
-20
-10
0
10
20
30
CC
PC
NC
LC
Others Elimination
and
corporate
Previous term
Current term
Forecast
* Considering the evolving market environment and changes in the roles and operations of Group companies,
royalties on master recordings among Group companies were reviewed in the second quarter of the fiscal year ending March 2010. As a result, sales in the CC Business rose 1.4 billion yen, and the cost of sales in the PC Business and NC Business increased 0.3 billion yen and 1.0 billion yen, respectively.
First half
Consolidated operating income by business segment

エイベックス・グループ・ホールディングス株式会社
©2009 avex group holdings, Inc.
All Right Reserved
All figures, if not otherwise indicated, are expressed in units of 100million yen. (Amounts of less than 100 million yen are truncated.)
7
30
-19
-10
-1
+3
-0
+14 16
-10
0
10
20
30
40
Previous
term
CC
PC
NC
LC
Others
Elimination
and
corporate
Current term
Effect of changesin sales
+11
-12
+9
+1
-0
+9
Effect of changesin cost rates
-4
-0
-7
+2
-0
+7
-3
Effect of changesin SG&A expenses
-26
+2
-3
-0
+0
+6
-20
Total
30
-19
-10
-1
+3
-0
+14
16
-13
First half
Increase/decrease factors of consolidated operating income (vs. same period last year)
Total
change
©2009 avex group holdings, Inc.
All Right Reserved
All figures, if not otherwise indicated, are expressed in units of 100million yen. (Amounts of less than 100 million yen are truncated.)
8
-11
+21
+8
-6
+0
+1
+2
16
-20
-10
0
10
20
30
Forec ast
CC
P C
NC
LC
Others
Elimination
and
corporate
Current term
Effect of changesin sales
-3
+1
+1
+0
+0
+0
Effect of changesin cost rates
+3
+7
-6
+0
+0
+2
+7
Effect of changesin SG&A expenses
+20
-0
-0
-0
+0
-0
+19
Total
-11
+21
+8
-6
+0
+1
+2
16
+27
First half
Increase/decrease factors of consolidated operating income (compared with forecast)
Total
change

エイベックス・グループ・ホールディングス株式会社
©2009 avex group holdings, Inc.
All Right Reserved
All figures, if not otherwise indicated, are expressed in units of 100million yen. (Amounts of less than 100 million yen are truncated.)
9
First half
Previous
term
Current
term
Change
Percentage
change
Forecast
Difference
Percentage
change
Sales
563
581
+18
+3.2%
586
-4
-0.8%
Cost of sales
370
381
+11
+3.1%
395
-13
-3.3%
Gross profit
193
199
+6
+3.4%
191
+8
+4.5%
Gross profit margin
34.3%
34.3%
+0.1%
-
32.6%
+1.7%
-
Personnel costs
46
45
-0
-0.9%
47
-1
-2.3%
Sales promotion and
advertising expenses
57
79
+21
+38.2%
94
-14
-15.3%
General expenses
58
57
-1
-2.1%
61
-3
-6.4%
Total SG&A expenses
162
182
+20
+12.5%
202
-19
-9.6%
Operating income
30
16
-13
-45.0%
-11
+27
-
Operating income margin
5.5%
2.9%
-2.6%
-
-1.9%
+4.8%
-
First half
Consolidated comparative income statement
©2009 avex group holdings, Inc.
All Right Reserved
All figures, if not otherwise indicated, are expressed in units of 100million yen. (Amounts of less than 100 million yen are truncated.)
10
381 414
455
563 581
0
100
200
300
400
500
600
March
2006
March
2008
March
2010
Sales
19
4
12
30
16
0
5
10
15
20
25
30
March
2006
March
2008
March
2010
Operating income
First half
Consolidated results-1