Trend Micro, Inc. (OTCPK:TMICF) Q4 2021 Earnings Conference Call February 17, 2022 2:00 AM ET
Company Participants
Mahendra Negi – Group CFO & EVP
Eva Chen – Co-Founder & Group CEO
Akihiko Omikawa – EVP, Japan, GM of Japan, Global Consumer Business & IoT Business Promotion and Director
Koichi Habara – IR
Conference Call Participants
Hideaki Tanaka – Mitsubishi
Satoru Kikuchi – SMBC Nikko Securities Inc.
Mitsunobu Tsuruo – Citigroup
Yusuke Hori – Mizuho Securities
Mahendra Negi
I would like to explain the Q4 summary most case. This is the fourth quarter summary. Net sales grew by 9%. Operating profit was minus 24%. Looking at this, it may not make sense to you. Why is the sales increasing, but the profit decreasing. If you go lower at the pre-GAAP level, sales number. This is a 19% growth on a Japanese yen basis, excluding the impact of exchange rate. So the growth rate is very high. 2011, we have started announcing the GAAP number, and this is the highest growth we have recorded so far since then. And the variable compensation is connected to pre-GAAP growth rate. And at the top, we have total operating expenses. This is increasing because of the pre-GAAP increase. Other…
