41)IR資料FY2011 1Q決算(英) v1.0 · 2011. 8. 22. · Clinic Users Clinic Media Mobile Media...
Transcript of 41)IR資料FY2011 1Q決算(英) v1.0 · 2011. 8. 22. · Clinic Users Clinic Media Mobile Media...
Copyright © 2011 M3, Inc. All rights reserved.
M3Presentation Material
1Q FY2011
Copyright © 2011 M3, Inc. All rights reserved. 2
The following contains statements that constitute forward-looking statements, plans for the future, management targets, etc. relating to M3, Inc. and/or its group. These are based on current assumptions of future events, and there exist possibilities thatsuch assumptions are objectively incorrect and actual results may differ from those in the statements as a results of various factors.
Furthermore, information and data other than those concerning the Company and its subsidiaries/affiliates are quoted from public information, and the Company has not verified and will not warrant its accuracy or dependency.
M3, Inc.
Copyright © 2011 M3, Inc. All rights reserved. 3
Company BackgroundCompany Background
2000 Sep Founded Oct Launched MR-kun service
2002 Mar Acquired WebMD Japan2004 Sep Listed on TSE Mothers2005 May Acquired with Medi C&C and
entered into Korean marketSep Launched QOL-kun serviceDec Launched AskDoctors service
2006 Jun Acquired MDLinx and entered into US market
2007 Mar Listed on TSE 12008 Oct Opened “MedQuarter.de” to
enter into Europe market2009 Apr Acquired Mebix and entered
into clinical trial market2010 Nov Acquired EMS Research and
established global research physician panel
Business domainBusiness domainBusiness domainInternet-based healthcare businesses
HistoryHistoryHistory
NameNameNameM3
MedicineMediaMetamorphosis
Copyright © 2011 M3, Inc. All rights reserved. 4
m3.comm3.com
Web-based medical toolsWeb-based medical tools
Research Paper searchResearch Paper search
Search engineSearch engine
Medical NewsMedical Newsm3.com MR-kunm3.com MR-kun
SponsormessagesSponsormessages
SponsoredSponsoredSponsorSponsor--freefree
Copyright © 2011 M3, Inc. All rights reserved. 5
Platform Power of m3.com Improving SteadilyPlatform Power of m3.com Improving Steadily
2010Jun.
Physicians registered in m3.com
2011Jun.
2010Jun.
Physicians login to m3.com
2011Jun.
2010Jun.
Physicians in MR-kun active
2011Jun.
2010Jun.
MR-kun eDetailsread by physicians
2011Jun.
+9.0% +19.0% +23.1% +39.1% *< < <
* Increase +33.8% vs P.Y. in this quarter
Copyright © 2011 M3, Inc. All rights reserved. 6
M3’s growthM3’s growth
Expand our core businessExpand our core business
Develop new businesses
Develop overseas businesses
Copyright © 2011 M3, Inc. All rights reserved. 7
Head countHead Head countcount
Annual costs per personAnnual costs Annual costs per personper person
Japanese Pharma’s Huge Marketing CostsJapanese Pharma’s Huge Marketing Costs
55,000 ¥20mnMRs(Pharmaceutical
companies)
MRMRss((Pharmaceutical Pharmaceutical
companiescompanies))
MSs(Pharmaceutical
wholesalers)
MSMSss((Pharmaceutical Pharmaceutical
wholesalerswholesalers))30,000 ¥10mn
Total cost of whole industry¥1.1-1.4 tn
Total cost of Total cost of whole industrywhole industry¥¥1.11.1--1.41.4 tntn
×× == ¥1.1tn
== ¥300bn××
Source: MIX, Research by M3
Copyright © 2011 M3, Inc. All rights reserved. 8
Physicians’ Demand for On-Line DetailingPhysicians’ Demand for On-Line DetailingQ. What is the ideal ratio of on-line and off-line promotional
information (“details”) from pharma companies?
5%
16%
13%
43%
9%
12%
2%
100% = 1,300 physicians100%
80%
60%
50%
40%
20%
20%
40%
50%
60%
80%
100%
100% On-line
100% Off-line
On-line
Off-line
A.
Demand for eDetails is quite high for busy physicians as they can get the information when it’s convenient for themselves, not for MR
Source: M3 questionnaire to 1,300 physicians
Copyright © 2011 M3, Inc. All rights reserved. 9
16,307
22,534
29,861
43,560
11,477
34,989
FY2006 FY2007 FY2008 FY2009 FY2010 FY2011
MR-kun eDetails Read by PhysiciansMR-kun eDetails Read by PhysiciansFY2006~FY2011
FY2010.1Q vs FY2011.1Q+26%
The growth will be accelerated in the second
half of FY.
(1,000 eDetail read)
Copyright © 2011 M3, Inc. All rights reserved. 10
MR-kun Annual Fee StructureMR-kun Annual Fee StructureMR-kun base
feeMRMR--kun base kun base
feefee Detail feeDetail feeDetail fee Contents production feeContents Contents production feeproduction fee Operation feeOperation feeOperation fee
¥70mnRevised as of Oct. 2005 for new clientPrevious fee: ¥60mn
¥20mn
¥40mn
¥100 per detail
¥30mn
M3 produces web contents shown on MR-kun
¥10mn
Basic operation, including sending messages to physicians and replying to physicians’ questions
~ ~
Initia
l Phase
Initia
l Phase
¥130mn~¥150mn
¥60mn
¥70mn¥250mn ¥150mn ¥10mn
Top
5clie
nts
Top
5clie
nts
The average of top 5 clients: ¥480mn
~
Copyright © 2011 M3, Inc. All rights reserved. 11
Case study
Off-line RepsOffOff--line Repsline RepsNon-coveredNonNon--coveredcovered coveredcoveredcovered
Non
-cov
ered
NonNon
-- cov
ered
cove
red
cove
red
cove
red
cove
red
1(baseline)
1(baseline)
+9%Sales increasecompared with base
+9%Sales increasecompared with base
+8%Sales increasecompared with base
+8%Sales increasecompared with base
+16%Sales increasecompared with base
+16%Sales increasecompared with base
MR
-kun
MR
MR -
- kunku
n
Combining real reps with MR-kun maximizes detailing impact
Combining real reps with MR-kun maximizes detailing impact
“MR-kun”alone has substantial power... “MR-kun”alone has substantial power...
Source: M3Notes: Questionnaire to 16,000 General Practitioners
MR-kun Increases Sales Like RepsMR-kun Increases Sales Like Reps
Copyright © 2011 M3, Inc. All rights reserved. 12
CurrentCurrentCurrent Growth OpportunitiesGrowthGrowth OpportunitiesOpportunities
MR-kun’s Growth Potential in JapanMR-kun’s Growth Potential in Japan
26Companies
30~35Companies
# of clients using MR-kun# of clients using MR-kun
Average revenue from top 10 pharma clients
FY09 340 million yen → FY10 420 million yen (23% growth )
Average revenue from top 10 pharma clients
FY09 340 million yen → FY10 420 million yen (23% growth )
MR-kunApprox.240mn
800mn~1bnSales per ClientSales per Client by increase of;
• # of products adopted• # of member MDs
GrowthPotential
4~5 times
Copyright © 2011 M3, Inc. All rights reserved. 13
M3’s growthM3’s growth
Develop overseas businesses
Expand our core business
Develop new businessesDevelop new businesses
Copyright © 2011 M3, Inc. All rights reserved. 14
New Business Development on the PlatformNew Business Development on the Platform
Web-based Physician Surveys
E-mail, banner promotion service for pharma companies
Promotion service for non-pharma companies
Job informationfor Physicians, PharmacistOnline clinical reservation system for patient
5
5
9
70
20
Revenue from the new businesses will exceed the revenue of MR-kun in FY2011.
Many of the new businesses are run by few staff and quite profitable.
companies since the beginning of current FY, and one more in progress.
Consumer service 3
Consolidated
subsidiaries
Evidence solution service 100
Research(Japan)Research(Japan)
Assigned staff
m3MTm3MT
QOL kunetc.QOL kunetc.
Consumer BusinessConsumer Business
MebixMebix
M3 CareerM3 Career
iTICKETiTICKET
Above 1,000mn
¥0mn~
¥750mn
¥750mn~
¥1,000mn
Copyright © 2011 M3, Inc. All rights reserved. 15
Mebix –Restructuring Produced Positive OutcomeMebix –Restructuring Produced Positive Outcome
“Leaner” operation and synergy with m3.com improved profitability, in addition to the reduced CoGS on a trial redesign in 1Q.
FY20101Q
FY20111Q
¥449M
Financial performance in Mebix(Apr. – Jun.)Financial performance in Mebix(Apr. – Jun.)
Sales
¥477M ¥150M
S.G.A. O.P.
FY20101Q
FY20111Q
FY20101Q
FY20111Q
¥84M
▲¥23M
Turn to black▲44%▲6%¥143M¥350M
M.F.C.
FY20101Q
FY20111Q
¥221M
▲37%
ImprovedAppx.¥160M
Copyright © 2011 M3, Inc. All rights reserved. 16
Evidence Solution Business – MebixEvidence Solution Business – Mebix
IT driven
Clinical trialClinical trialClinical trial
No1 company in Japan for EBM data collection. . . supporting clinical trial for launched drugs
Adopted by PMDA in a PMS project. (PMDA: Pharmaceuticals and Medical Devices Agency)
Started acquiring clinical trials and a couple projects in negotiation (USD several million).
CROs
PMS *PMS PMS ** Evidence buildingEvidence buildingEvidence building
People driven
Expanded in 1Q
Expandedalready
Drug launch
* Post Marketing Surveillance
Copyright © 2011 M3, Inc. All rights reserved. 17
Acquisition of Medical Pilot in ProgressAcquisition of Medical Pilot in Progress
Media power of m3.com– Over 200K PhysiciansExperience in the Internet-Based service development.
Accelerate the growth of “Chiken-kun” service*
Accelerate the growth of “Chiken-kun” service*
Experience in clinical trial as SMO.Good track records with major pharmaceutical companies in clinical trial.
* Participating physician and patient recruiting via m3.com
Company OverviewCompany Overview
Name Medical Pilot inc.Established June 2002
Employees 30
Office Tokyo
Business Site Management Organization (SMO)Focused on psychiatry, psychosomatry, and neurology
Capital 43 million yen
Medical facilities in affiliationArea
TokyoSaitamaChiba
Kanagawa
Hospital6118
Clinic291262
Total3513710
Total 17 49 66Ibaraki 1 1
May 2011Number of accumulated total affiliate : 88
Copyright © 2011 M3, Inc. All rights reserved. 18
M3 Career, IncM3 Career, Inc
Media power of m3.com– Over 200K Physicians– Over 70K PharmacistExperience in the recruiting ad business for medical professionals
Full-line service and platform for best match between employers and job seekers
Full-line service and platform for best match between employers and job seekers
Direct relationship both with employers (clinics etc) and job seekers (physicians, pharmacists)Experience in the employment agent business for nurses and care workers
Improvement in operation efficiency.Development of newly-hired staff in productivity.
Continue growth since last year.
Sales and O.P. (vs. PY)Sales and O.P. (vs. PY)
FY2010.1Q FY2011.1Q
¥352M
¥69M
¥625M(+78%)
¥249M(+259%)
O.P.Sales
Copyright © 2011 M3, Inc. All rights reserved. 19
Acquisition of iTICKET
Used in 1,000+ clinics , more than 1 million unique users per month,
Web-based reservation system for clinics
Clinic Outdoor
Internet
more than 460,000 members (mostly moms with little kids) registered to the pan-clinic site. …became one of the largest “mom”platforms in Japan.
Copyright © 2011 M3, Inc. All rights reserved. 20
Consumer Business is growing
1
患者様用番号券(表面サンプル)
(裏面サンプル)
【XXサンプルプレゼント】詳しくは、下記携帯サイトへ
http://xxxxxxxxxxx
【XXサンプルプレゼント】詳しくは、下記携帯サイトへ
http://xxxxxxxxxxx
【院内でXX番組放映中】さらに詳しい情報は、下記携帯サイトへ
http://xxxxxxxxxxx
【院内でXX番組放映中】さらに詳しい情報は、下記携帯サイトへ
http://xxxxxxxxxxx
製品ロゴ
製品ロゴ
ASP : Reservation for medical careASP : Reservation for ASP : Reservation for medical caremedical care Media businessMedia businessMedia business
Clinic Users Clinic Media Mobile Media
Ticket Media
<Fee Structure>Initial Fee:498,000yen / Clinic ~
ASP Service:11,400yen / Month ~
Consumer businessConsumer businessConsumer business
Charged Option
<Fee Structure>210yen/Month
Registered by 7,000+ members in 2 months from launch.Advertising cost : zeroOver 1,000 Clinic
<Fee Structure>Clinic Media:1,500,000yen / Month ~
Mobile Media:130,000yen / 2Week ~
Ticket Media:750,000yen / Project ~
とれたよメール
まだかなメール
すぐきてメール
330479
692830
9421,0451,028
'05 '06 '07 '08 '09 '10 '11
Copyright © 2011 M3, Inc. All rights reserved. 21
M3’s growthM3’s growth
Expand our core business
Develop new businesses
Develop overseas businessesDevelop overseas businesses
Copyright © 2011 M3, Inc. All rights reserved. 22
Development in the USDevelopment in the US
“M3 Messages” (US version of MR-kun) started on MDLinx(merged with M3 USA in Mar. 2009).– Washington D.C.– 403K medical professionals
(incl. 157K physicians) as registered member
Acquiring physician members rapidly
– Added 30K+ in this quarter(added 50K+ in the half of the year)
Expanding both “M3 Messages”and “MDLinx Clicks”.
Copyright © 2011 M3, Inc. All rights reserved. 23
FY2010.1Q FY2011.1Q
Sales Breakdown of M3 USA (Including EMS Research)Sales Breakdown of M3 USA (Including EMS Research)
Marketing Support– Both “M3 Messages” and ”MDLinx
Clicks” are growing.– Expanding the range of services to
meet pharmaceutical clients’ needs
Research
Marketing Support
¥310M
¥500M(+58%)
Sales Breakdown of M3 USASales Breakdown of M3 USA
Research– Increase of registered physicians
in MDLinx drives growth.– Acquired EMS Research Ltd. in
Nov. 2010. Realized 1M+ global research physician panel.
Operating Profit grew steadily, +78% compared with FY2010 1Q.
(FY10:21mil yen ⇒FY11:37mil yen)
Copyright © 2011 M3, Inc. All rights reserved. 24
Global Research PanelGlobal Research Panel
Offers multi-regional research capacity for global clients.Research Area: Japan, U.S., Europe, China, South KoreaResearch panel of over 1M physicians.
Meets increasing demands of global survey from pharma clients.
*Exclusive alliance in research with DXY
Global Research Panel (Number of Physicians)
Japan 200KU.S. 150KEurope 300KChina* 350KSouth Korea 50K
Appx. 1M Physicians
Copyright © 2011 M3, Inc. All rights reserved. 25
FY20101Q
FY20111Q
4,184 M
Sales
3,358 M1,241 M
Ordinary profit Net profit
FY20101Q
FY20111Q
FY20101Q
FY20111Q
1,890 M
677 M
+63%+52%+25%
1,103 M
1,288 M
Operating income
FY20101Q
FY20111Q
1,886 M
+46%
Consolidated P/L Statement for FY2011 1QConsolidated P/L Statement for FY2011 1Q
Copyright © 2011 M3, Inc. All rights reserved. 26
Consolidated P/L Statement for FY2011 1QConsolidated P/L Statement for FY2011 1Q
*
▲16510
351▲55477
1,4352,537
FY2010.1Q
10102
8536111449
1,8863,160
FY2011.1Q
▲6%SalesEvidence Solution -Profit
+53%SalesOverseas
▲24%Profit
+31%Profit
+25%SalesMedical Portal
Others
(yen million)
+57%Sales
-Profit
YoY Growth
Breakdown by Business SegmentsBreakdown by Business Segments
* O.P. of M3 USA: 37 mil yen
Copyright © 2011 M3, Inc. All rights reserved. 27
(yen million)
Steady growth momentum continues.
Consoli. Sales Analysis (vs P.Y.)Consoli. Sales Analysis (vs P.Y.)
Others
Evidence Solution
Overseas
Medic
al P
orta
l
Elimination and etc
Research, Others
FY2011.1Q
Career
MR-kun
FY2010.1Q
Contribution from iTicket
Consolidate EMS Research (Absorbed forex impact : -64mil yen)
On budget
Expand M3 Career
Research expansion
Increasing order333
27
4,184
3,358
8
273
185
37
16
Copyright © 2011 M3, Inc. All rights reserved. 28
Stock SplitStock Split
Expanding the shareholder base by;– Lowering minimum amount for stock purchase– Improving liquidity
ObjectiveObjective
Ratio: 2-for-1 Stock SplitRecord Date:Sep. 30th , 2011Effective Date:Oct. 1st , 2011
OutlineOutline
Copyright © 2011 M3, Inc. All rights reserved. 29
Office RelocationOffice Relocation
ObjectiveObjective
Resolution of shortage of office space due to staff increase.Creation of further synergy among group companies.
Schedule :Nov. 2011New address :Akasaka, Minato-ku, Tokyo
One-time cost for relocation :Approx, 200 mil yen (to be posted on 2Q – 3Q).The rent per seat per month will be reduced.
OverviewOverview
Financial ImpactsFinancial Impacts
Copyright © 2011 M3, Inc. All rights reserved. 30
44508
872
1,694
2,779
3,7344,170
4,851
6,143
7,250
4,150
-93
256
991493279136
-93
1,6091,965
62
3,486
1,9382,363
107 480 891 1,5632,276
3,854
5,729
7,4758,534
11,811
14,646
17,250
Annual Results & Forecast for FY2011Annual Results & Forecast for FY2011
Ordinary profitNet Profit
FY00
FY01
FY02
FY03
FY04
FY00
FY01
FY02
FY03
FY04
FY05
FY05
Est
FY06
FY06
FY07
FY07
FY08
FY08
FY09
FY11
FY09
FY11
FY10
FY10
SalesSales Ordinary Profit & Net ProfitOrdinary Profit & Net Profit
Est
(¥ mn) (¥ mn)
(6months) (6months)Consolidated Consolidated
Copyright © 2011 M3, Inc. All rights reserved. 31
M3MedicineMediaMetamorphosis
Healthcare sector is huge…・ Japanese national spending on medical services is
approximately ¥33tn (approximately ¥50tn if peripheral businesses are included)
・ Equivalent to 10% of Japanese GDP・ Sector controlled by only 270,000 people, e.g.,
physicians, representing only 0.2% of the population
M3 aims to create new value in this sector・ Solve the issues and problems of the medical sector・ With new and unique business models・ While focusing on areas were we can add high value
(e.g., have high profit) to boost our enterprise value
Source: Ministry of Health, Labour and Welfare, the Japan Medical Association, M3
Creating New Value in HealthcareCreating New Value in Healthcare