For the Second Quarter of the Fiscal YearEnding September 30, 2021

Results ofOperations
AirTrip Corp.
TSE 1st Section: 6191
May 14th ,2021“Restart”～Start for the 2nd stage after being listed～～AirTrip Group restarts～

FY21.9 Period 2Q “Restart” ~ Record a new high Operating profit in the 1st and 2nd Quarter ~By executing [AirTrip “Restart”] growth strategy,
In FY21.9 Period, the 1st and 2nd Quarter recorded
a high operating profit of 2 Billion yen !!
~ Steadily accumulate business revenue at a level that exceeds high profit recorded in the 1 st quarter ~Unit: (Hundred million yen)

FY20.9 Period(Full-year Result)
1st Stage(From the time being listed tothe end of the period)

FY21.9 Period(1Q’s Result)

FY21.9 Period

FY21.9 Period(2Q’s Result※)(Full-year Results Forecast)Start of 2nd Stage

Consolidated Net Sales(“Restart” from FY21.9 period)

Stably gaining business revenue in 2nd Quarterby continuously promoting Business portfolio
diversification and restructuration.

Full-year Results Forecast
remains unchanged

12.4
20.0

13.0

2Q Grand
Total

7.6
Consolidated Operating Loss
(Before Impairment Loss)

1Q Grand
Total

1Q・2Q
Grand
Total

△7.9

Full-year Cumulative Result(After Revision of Result Forecast)※The above mentioned 2Q result is preliminary figures at the present time, and may differ from actual results.

Copyright © AirTrip Corp. All Rights Reserved.

2

FY21.9 Period 2Q “Restart” ~ Strengthen AirTrip Economic zone by the diversification strategy ~Promoting the development of diversified businesses,
and strategically strengthen AirTrip Economic zone.
~ Promoting the restructuration and diversification of business portfolio by utilizing the asset of AirTrip Group
Leading the travel industry by promoting optimal UX provision and the
expansion of content and products from the areas that are loosen restriction
for travel in Oversea travel domain to meet the changing travel demandduring with the COVID-19 period.

Creating innovation by media
solutions that utilize Magmag's
digital technology to meet thediversifying customer needs of the
New Normal Era

Life
Innovation
Business

AirTrip Travel
Business

Economic Zone

Japan InboundTravel Business
Wi-Fi Business

Providing optimal solutions tovarious needs due to changes inthe environment, centered on the
Wi-Fi rental area and inbound area
aiming for remote companies.

Diversified business development by utilizing AirTrip Group’s Assets

IT Offshore
Development
Business
Promoting digital transformationin various industries/sectors
with Onsite x Offshore hybrid
system engineering.

Healthcare
Business

Creating new providing value by developing
services that revolved around digital x
medical/healthcare centered on PCR testing
services to dealing with medical issues duringwith the COVID-19 period

Investment
Business
By utilizing the knowledge and experience
gained after listing 6 companies in total so far,achieving the discontinuous growth throughstrategic M&A, capital business alliances andproactive investment, and understand thegrowth sources towards the rapid changes in
the industrial structure

Promoting our business portfolio dispersion by utilizing our company’s strong assets
such as business development know-how, marketing know-how, system development
ability, brand power, customer base…
Copyright © AirTrip Corp. All Rights Reserved.

3

FY21.9 Period 2Q “Restart” ～Executive Summary～●Operation Performance in FY21.9 Period 2Q is 18.1 billion yen of handling volume, 11.2 billion yen of net sales, 2 billion yen of operating
profit.
Being positioned as the 1st year of the 2nd stage “Restart”, by executing the growth strategy [AirTrip 2021 “Restart”], accumulating businessrevenue stably at a higher level of 1st Quarter, 1st and 2nd Quarter period’s operating profit reached a new high record.

●

AirTrip Travel Business succeeded in capturing travel demand centered on Domestic travel domain and secured the sustainable profit.
Other existing businesses except for Travel domain, such as IT Offshore Development Business, Japan Inbound Travel Business/ Wi-Fi
Rental Business, Life Innovation Business (MagMag), Investment Business, are all performing well, and speeding up with therestructuration and Business Portforlio diversification.

●

Especially, Healthcare business continues to grow steadily by capturing the exploding demand of home delivery PCR Test, with a largescale mass-marketing through TV commercial and transportation advertisement as well as distributing information on various news channel.
On the other hand, it is considered as a short time business until the vaccine could be accessed widely.

●At the moment, although the travel demand is affecting by the 4th wave of COVID-19 and the Declaration of State of Emergency, continue topromote diversification and restructuration of the business portfolio from the previous fiscal year, and strategically strengthen the AirTrip
economic zone.

●

Before COVID-19 (FY 19.9 Period) the annual handling volume was 146 billion yen, and in half year it was 18,1 billion yen, lost above 100
billion yen. However, in the period after COVID-19, it is expected to recover 100 billion yen in has lost in handling volume. Specifically, there
will be a significant recovery in AirTrip Travel Business due to an increase in travel demand due to the spread of vaccination. AirTrip Groupwill strengthen alliances and prior investment business to AirTrip Travel Business that is gaining profit, continue the stable growth in 5
business domains except for Travel Business and aim to an endless growth by accumulating business revenue by promoting
restructuration and business portfolio diversification.
Copyright © AirTrip Corp. All Rights Reserved.

4

FY21.2Q Financial Summary

Copyright © AirTrip Corp. All Rights Reserved.

5

Changes in Handling Volume

Handling Volume compared to the last period: 30％
Handling Volume in the 2nd Quarter tends to keep recovering during
the COVID-19 Pandemic
Consolidated Handling Volume(Hundred Million Yen)

※Changed to pre-cancellation handling volume from FY19.4Q.
※FY20.1Q and FY20.2Q are aggregated excluding the discontinued business.

Copyright © AirTrip Corp. All Rights Reserved.

6

Changes in Net Sales

Net Sales compared to the last period: 73％
Net Sales in the 2nd Quarter also tends to keep recovering during
the COVID-19 Pandemic
Consolidated Net Sales (Million Yen)

※FY20.1Q and FY20.2Q are aggregated excluding the discontinued business.

Copyright © AirTrip Corp. All Rights Reserved.

7

Changes in Operating Profit

Operating Profit compared to the last period: Sharply Increased
The 2nd Quarter also reached the highest Operating Profit recorded ever.
Consolidated Operating Profit(Million Yen)

※FY20.1Q and FY20.2 are aggregated excluding the discontinued business from the figures issued last fiscal year.

Copyright © AirTrip Corp. All Rights Reserved.

8

Statement of Income

Although handling volume has decreased compared to last year,
We achieved the highest recorded operating profit ever due to the recovery on
business performance of each business area.
(Million yen)

FY20.2Q
Amount

FY21.2Q% to Sales

Amount% to Sales

Handling Volume

60,857ー

18,077ーNet Sales

14,741100.0%

11,202100.0%

Gross Profit

5,701

38.7％

3,855

34.4％

Operating Profit△1,343

△9.1％

2,001

17.8％

Profit

△741

△5.0%

1,286

11.4％

Copyright © AirTrip Corp. All Rights Reserved.

9Balance Sheet

About equity damage due to impairment loss at the end of the last period
Recovering by fundraising and profit record(Million yen)

FY20.4Q

FY21.2Q

Difference

Current Assets

15,023

14,532△491

Cash and Deposits

7,042

5,600

△1,442

Operational Investment
Securities

4,359

4,871

512

Non-current Assets

6,916

6,983

67

Total Assets

21,94021,515△425

Liabilities

19,402

16,060△3,342

Interest-bearing Debts

11,028

8,895△2,133Equity

2,538

5,455

2,917

Equity ratio

11.5%

25.4%

13.9%

Copyright © AirTrip Corp. All Rights Reserved.

10Strategies and Results against the impact of
COVID-19

Copyright © AirTrip Corp. All Rights Reserved.

11

Travel Demand Recovery’s Prospect based on the impact of COVID-19

Despite the decrease in travel demand caused by the 4th Wave of COVID-19 and the Declaration of astate Emergency, it is forecasted that travel demand will recover when the number of infection
cases reduces with the development of vaccine.
~ While the demand keeps recovering and reducing, it will be back to increasing trend by the development of vaccine~
Vaccine Development

Numberof people

High

Infection
Cases
Travelers(Travel Demand)

Transform to the highest
travel demand ever

3rd Wave

4th Wave

2nd Wave

Decreasein Infection
Cases

Now

1st Wave
Increase in
Infection
Cases

Low

DemandDecrease
Phase

Now

DemandRecovery
Phase

DemandDecrease
Phase

DemandRecovery Phase

DemandDecrease
Phase

DemandRecovery PhaseTime(1.5~2 Years)
Copyright © AirTrip Corp. All Rights Reserved.

DemandDecrease
Phase

DemandRecovery Phase

Travel profit is expected todramatically increase when thenumber of infections cases decrease
with the vaccine development

DemandDecrease
Phase

Explosion indemand phase

Future12

Impact of COVID-19 on Recent Performance

Despite of being affected by the Declaration of State of Emergency,
ウィルスによる業績への影響
Domestic travel area remains stable~ Except for Overseas Travel, other existing business domains continues to growth steadily
Healthcare business is also growing smoothly with the strong increase in PCR test demand~
Expansion of nationwide
suspensionof GoTo Travel
Declaration of State of Emergency(1/8)

1Q’s Results
Announcement(2/12)

Expansion of the Declarationof State of Emergency Again(1 Capital and 3 provinces)(3/5)

Declaration of State ofEmergency / Prevention
Measures(4/25)

2Q’s Results
Announcement(5/14)

January

February

March

April

May
June
July～
(prospect) (prospect) (prospect)

AirTrip Travel (Domestic)

△～◯

△～◯

△～◯

△～◯

△～◯?

△～◯?

◯?

AirTrip Travel (Overseas)

×

×

×

×

×?

×?

×?

IT Offshore Development
Business
Japan Inbound Travel／
Wi-Fi Business

◯

◯

◎

◯

◯?

◯?

◯?

△～◯

△～◯

△～◯

△～◯

△～◯?

△～◯?

△～◯?

◯
◯
◯

◯
◯
◯

◯
◯
◯

◯
◯
◯

◯?
◯?
◯?

◯?
◯?
◯?

◯?
◯?
◯?

Life Innovation Business
Healthcare Business
Investment Business

Copyright © AirTrip Corp. All Rights Reserved.

13

FY21.9 Period 2Q Changes in Administrative Expenses~Cash out Reduction Results and Implementation Measures

Continuing to reduce fixed costs and optimizing variable and advertising costs～Controlling variable cost and advertisement cost according to the decrease in domestic travel demand,and also continuing to reduce monthly Administrative expenses to about 450 ~ 500 million yen in the 2 nd Quarter ～(Hundredmillion yen)

Optimizing variable cost and advertisement cost

10.0
Variable Cost

Variable Cost
Fixed Cost

0.5?

4.0
8.0

1.8

2.2

1.9

Along with the decrease in domestic travel demand,
implementing cost control according to operation volume.
Advertisement Cost
Continuing to optimize the advertisement cost ratio to gross profit.

6.0

Controlling labor cost and continuing to reduce other fixed
costs

Labor Cost

4.0

6.4

0.5?

2.0

2.7

2.6

2.6

0.0

20.2

20.9

FY20.921.5~

21.3
FY21.9(Plan)

Copyright © AirTrip Corp. All Rights Reserved.

Continuing to return part of Directors’ bonuses ( Director /Supervisor)
Reducing labor cost by taking leave (Reducing working days)
Compensating for labor cost by utilizing Employment Adjustment
Subsidies.

Other fixed Cost
Optimizing system development by selecting and gathering
Reducing office related costs by changing to work fromhome
Continuing to review other fixed costs (Outsourcing…)

14

FY21.9 Period 2Q Changes in Gross Profit~Building a sustainable Revenue Base by promoting Diversification Strategy

Gross Profit grew steadily and achieved profit in monthly basis in 2nd
Quarter by promoting diversified business development~Building a sustainable Revenue Base by promoting business portfolio diversification andrestructuration~（Hundredmillion yen）

Other business

12.0

Overseas Travel

Building a Revenue baseby promoting businessportfolio diversificationin 2nd Quarter

Domestic Travel

10.0

1st Quarter has achieved profit
in monthly basis mainly inDomestic travel domain and
Investment domain.

8.0

6.0

3.1

1.9
0.2

4.0

2.0

0.0

Gross profits in the domestic travel area
are expected to gradually recover due tothe convergence between 4th wave of
COVID-19 and summer travel demand.

1.7
1.9

1.5

1.6

1.5

△0.1

△0.1

0.8

0.7

20.4

20.5

2.8

2.5

2.5

2.6

20.6

20.7

20.8

20.9

3.2

0.1

3.8

3.1

0.1

0.1

3.6

4.4
3.3

0.1

3.6

2.0
20.11

20.12

21.1

21.2

21.3
FY21.9Copyright © AirTrip Corp. All Rights Reserved.

0.1

0.1
0.1

FY20.9※Preliminary figures used for Group Business Management.
※From FY21.9, investment business is included in the actual result.

3.1

3.0

0.1

20.10

3.1

3.2

0.1

4.5

1.8

1.5

3.0

21.4
(Planned
Value)

2.4
21.5(Planned
Value)

3.1

21.6(Planned
Value)

4.0

21.7(Planned
Value)

15

FY21.9 Period Full-year consolidated results forecast

By executing the AirTrip 2021 “Restart”growth strategy
We has strategically promoted business diversification and gained profit in 2nd Quarter‼
~The results has continued to smoothly grow, and the forecast value has been updated up three times~(Million Yen)
FY21.9 Period
Full-year forecast

FY21.9 Period
Revised full-year
forecast

Handling
Volume45,00045,000Net Sales

23,50024,300Operating
Profit300

1,300

Profit180

741

Dividend--

Strategy based on results forecast

・The recovery of AirTrip Travel business’s revenue.
・Accumulating revenue by promoting businessportfolio dispersion.
・Revenue from proactive investing on developing
domains.
・Increasing profit by cut down cash out.
・Increasing profit with the profit margin of highbusiness revenue.
・Aiming for a payout ratio of 20%※Based on the revised full-year results forecast announced on 15th Apri ,2021

Copyright © AirTrip Corp. All Rights Reserved.

16

FY21.2Q Recent Actions and Achievements

Copyright © AirTrip Corp. All Rights Reserved.

17

The Gross profit of the Domestic Travel Domain is secured even under the State of Emergency
AirTrip Travel
Business

Even under the State of Emergency, in the Domestic Travel Domain, travel
demand is steadily captured, and the gross profit is stably secured~Expected to recover 99% compared to last year in March, and achieve 312% compared to last year in April~
FY21 Gross Profit
FY20 Gross Profit

The 2nd Decleration of State ofEmergency(2021/1/8～2021/3/21)

First domestic COVID-19 infection
cases confirmed (2020/1/15)

The 3rd Declaration of State ofEmergency(2021/4/25～2021/5/31)

Even under the State of Emergency, we secured a stablegross profit by capturing travel demand at a significantly
higher level than the previous year.
In March, Gross
Profit recovered
99% compared
to last year.

In April, Grossprofit achieved
312% compared
to last year
The 1st Declaration of State ofEmergency(2020/4/7～2020/5/25)

20.1

21.1

20.2

21.2

20.3

21.3

20.4

21.4

※ The above figures are preliminary figures for gross profits of domestic airline tickets, domestic airline tickets + hotels, domestic hotels, and domestic tours.

Copyright © AirTrip Corp. All Rights Reserved.

18

Starting automatic application service of “Later Use Discount” aiming for the time GoTo Travel Campaign resumes
AirTrip Travel
Business

Starting automatic application service for target travel
products of “Later Use Discount”, aiming for the time GoTo
Travel Campaign resumes!
~ Discounted price will be automatically applied without rebooking~Copyright © AirTrip Corp. All Rights Reserved.

19

Implementing new function to provide new UX in AirTrip Plus (Domestic Airplane Ticket + Hotel) and Domestic Hotel
AirTrip Travel
Business

Implementing new function to provide fresh experience forcustomers in the New Normal Era with Domestic Airplane Ticket +Hotel (AirTrip Plus) and Domestic Hotel~Improving the convenience by adding a keyword search function based on Customers’ searching data~
AirTrip Plus (Domestic Airplane Ticket + Hotel)

Copyright © AirTrip Corp. All Rights Reserved.

AirTrip Domestic Hotel

20

Starting hotel operation of “YANAKA SOW”, a brand new private vacation house in form of private lodging at AirTrip Stay
Japan Inbound Travel Business・
Wi-Fi BusinessAt our Group Company AirTrip Stay, we have started a hotel operation of“YANAKA SOW”, a new model of vacation house in the era living with COVID-19~Utilizing the knowledge gained during with the COVID-19 period, we will take on thechallenge to provide “In-between of living and staying” service~

Copyright © AirTrip Corp. All Rights Reserved.

21

Starting providing PCR Test provided by AirTrip Group to Escrit, a Bride Business company.
Healthcare
Business

Starting providing PCR tests implemented by AirTrip Group to Escrit,a company develops Bride Businesssuch as wedding and receptions’ planning and management!
~ Providing PCR Tests for Brides and Grooms, who are having a Wedding Ceremony at Escrit as well as
all attending guests. Also supporting New-normal Wedding Ceremonies~

Copyright © AirTrip Corp. All Rights Reserved.

22

Starting the alliance to provide PCR Test service of AirTrip Group aiming for overseas travelers at Jalpak official website
Healthcare
Business

Launching a partnership to provide PCR test service implemented by
AirTrip Group for overseas travelers at Jalpak official website!!
~We are now able to issue negative certificates in order to travel to Hawaii and China
for customers using JAL overseas dynamic packages and JAL overseas tours~

Copyright © AirTrip Corp. All Rights Reserved.

23

Starting the alliance to provide PCR Test services of AirTrip Group for overseas travelers at Spring Airlines official website
Healthcare
Business

Starting the alliance to provide AirTrip Group’s PCR Test services foroverseas travelers at Spring Airlines official website!!
~ Travelers to China could also obtain a PCR negative certificate now ~Copyright © AirTrip Corp. All Rights Reserved.

24Investment Business ~ Additional investment in Conversion Technology, the company providing and developing
Page Abandonment prevention tool “KaiU”~
Investment
Business

Additional investment in Conversion Technology, the company
providing and developing withdrawal prevention tool “KaiU”~ Improvement of conversion rate by preventing website withdrawal ~Company Profile

Page Abandonment Prevention Tool “KaiU” ProductSummary

Recent Business Achievements▼total CV creation

Over 40 million
times▼Customers

Over 1,200
websites
Website：https://kaiu.jp/

Company Name: Conversion Technology, Inc.
Representative: ：CEO Shinya Araki
Capital: 271,100 thousand yen
Our services: Selling and developing Page
Abandonment Prevention Tool “KaiU”

Website：https://conversion-technology.co.jp/

This is a Page abandonment prevention tool thatsurprisingly improve conversion rate and control every
possible exit on Website.
Prevent users from leaving the website by prompting
appropriate actions by displaying optimal banners forusers who are likely to leave.
The number of companies that have applied the systemis steadily increasing due to the responsible consultant
system and the easy-to-use management screen.
Copyright © AirTrip Corp. All Rights Reserved.

Regardless of Corporation/ Individual, Industries/
Section, succeeded in applying in a wide range focusing
on manufacturers (beauty / cosmetics), web services, retail,real estate, advertising / information services
With a cumulative total of over 40 million CVs created anda total of over 1,200 sites supported, we are promoting
further business growth.
Last year's persistency rate of KaiU reached 96% and
above

25

Investment Business ~ Donut Robotics, our investee company, accelerates business growth centered on smart
masks
Investment
Business

Donut Robotics, our investee company, which develops small robots,
accelerates their business growth~ Looked ahead the trend, won the "Top Japanese Startup 2021" Grand Prize ～Company Profile

smart mask「C-FACE」Product Summary

Recent Business Achievements

Won the "Top Japanese Startup 2021 Annual
Award" selected by Silicon Valley Media
Company Name: Donut Robotics Co., Ltd.
Representative: CEO Taisuke Ono
Capital: 235,100 thousand yen.
Services: Developing Robot/ Smart Mask
Website：https://www.donutrobotics.com/

This is the world first “Smart mask that works withsmartphones”, developed by applying robot technology.
Deliver your voice to remote partners’ smartphones, be able
to “convert speech voice into text”, “translate in 8
languages” and “make meeting minutes”
Capturing high demand in modern society where people
have to live apart, we have already received orders from
more than 150 companies in 36 countries and regions
all over the world.
Copyright © AirTrip Corp. All Rights Reserved.

Won the "Cool Japan Matching Award 2021
Grand Prize" sponsored by the Cabinet Office as aproject partner company.
26

Actions and Achievements to strengthen thebusiness portfolio～Business progress of Group Companies～

Copyright © AirTrip Corp. All Rights Reserved.

27

Group Company: MagMag (Securities code：4059)~ Continue to increase Net Sales and Operating Profit after being listed ~ ～Life Innovation Business

Increasing Net Sales and Operating Profit and smoothly expanding the businessrevolving around Platform Business such as “MagMag! Live”~ Achieved 106% in Net Sales and 130% in Operating Profit compared to this period 1Q~※<Changes in MagMag’s Net Sales/ Operating Profit>
Net Sales
Operating Profit

Even after being listed, it is expected for further increase in thenumber of paid members by expanding new functions andimproving convenience, centered on e-mail newsletters and live
streaming services.

Net Sales(2Q Preliminary

value）

106%※Compared to
FY21.1Q

Operating
ProfitStrengthen Owned Media in the Media Advertising
Business

130%

Promoting the strengthening of owned media by acquiring new
writers and continuing to publish articles by cooperating withexternal media and using it as a catalyst for business growth.

（2Q Preliminary
value)※Compared to
FY21.1Q

FY20.4Q

Keep on expanding business revolving around Platform
Business

FY21.1Q

FY21.2Q(Preliminary
value)※The above 1Q results are preliminary figures at this time and may differ from the actual results.

Copyright © AirTrip Corp. All Rights Reserved.

28

Group Company: MagMag (Securities code：4059)~Starting distributing new content on e-mail newsletter distribution Platform~
Life Innovation BusinessStarting distributing many new contents on the e-mail newsletter distribution
platform operated by our Group Company: MagMag (Securities code：4059) ‼
~ Spreading popular contents by many celebrities such as Kozo Inoue and Narumi Komatsu~

Copyright © AirTrip Corp. All Rights Reserved.

29

Group Company: MagMag (Securities code：4059)~ The Representative of MagMag, Mr. Matsuda has appeared on Takafumi Horie’s show~
Life Innovation Business

The Representative of MagMag, Mr. Matsuda has appeared on
Takafumi Horie’s news discussion show “HORIE ONE”

Copyright © AirTrip Corp. All Rights Reserved.

30

Group Company: Hybrid Technologies
IT Offshore Development BusinessNo. 1 Japanese offshore development in Southeast Asianthrough hybrid development~Achieved 115% in Net Sales and 3,727% in Operating Profit compared to 1Q~
600(Million Yen)

Net Sales(2Q Actual
Value）

480

360

Net Sales

115%※Compared to
FY21.1Q

Operating Profit

Sales measures for upper processes centered on organizational
reforms, which will be described later, have been effective.
Operating income has reached record highs on a monthly basis!
Aiming for further business growth toward listing.

398

346
Operating
Profit240（ 2Q Preliminary

value）

3727%※Compared to
FY21.1Q

120

0

FY21.1Q

Achieved high record of monthly profit in March due toexpansion of business result

FY21.2Q

Established a department specializing in upper
processes to strengthen proposal capabilities
Established "Business Consulting Department"
specializing in requirement analysis and proposals, andbuilt one-stop from upper to lower development
promotion system.

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31

Group Company: Change to direct holding by acquisition of Hybrid Technologies’ Shares
IT Offshore Development BusinessChange to direct holding and acquiring Hybrid Technologies’ shares~ IPO preparation progress ~A part of capital policy towards IPO
Proceeding on preparation for the listingof Hybrid Technologies, a coresubsidiary in IT Offshore Development
Business

37%

51%

DX Promotion / System Development

66%

Direct holding by
share acquisition

Providing One-stop service related to
DX promotion for client companies

Game Development / BPO

Hybrid Technologies
Vietnam Co., Ltd

Hybrid TechnoCamp Co., Ltd

Copyright © AirTrip Corp. All Rights Reserved.

Straightly providing service planning,system development from upper to lower
process in DX promotion of clientcompanies in various industries andsections.

32

Group Company: Inbound Platform Corp.
Japan Inbound Travel／
Wi-Fi BusinessContinuing to grow due to the increase in demand for domestic remote
work and strong media towards foreigners~ Achieved 125% in Net Sales compared to 1Q ~(Million Yen)250
Net Sales

200

Achieved high performance in Wi-Fi fordomestic corporations.

227

Domestic corporate demand continues to be steadybecause of the spread of remote work.

181

Full-scale start of Life Media Tech business150

Net Sales（2Q Actual
Value）

100

125%※Compared to
FY21.1Q

50

0Various information broadcasting, reservation
platform business aiming for foreign residents arestarted in sequence
Reduction of fixed costs and cost optimization
Continue to optimize cost efficiency by reducing
purchasing costs and fixed costs

FY21.1Q

FY21.2Q
Copyright © AirTrip Corp. All Rights Reserved.

33

FY21.9 Period 2Q “Restart” ～Executive Summary～●Operation Performance in FY21.9 Period 2Q is 18.1 billion yen of handling volume, 11.2 billion yen of net sales, 2 billion yen of operating
profit.
Being positioned as the 1st year of the 2nd stage “Restart”, by executing the growth strategy [AirTrip 2021 “Restart”], accumulating businessrevenue stably at a higher level of 1st Quarter, 1st and 2nd Quarter period’s operating profit reached a new high record.

●

AirTrip Travel Business succeeded in capturing travel demand centered on Domestic travel domain and secured the sustainable profit.
Other existing businesses except for Travel domain, such as IT Offshore Development Business, Japan Inbound Travel Business/ Wi-Fi Rental
Business, Life Innovation Business (MagMag), Investment Business, are all performing well, and speeding up with the restructuration andBusiness Portforlio diversification.

●

Especially, Healthcare business continues to grow steadily by capturing the exploding demand of home delivery PCR Test, with a large-scale
mass-marketing through TV commercial and transportation advertisement as well as distributing information on various news channel. On theother hand, it is considered as a short time business until the vaccine could be accessed widely.

●At the moment, although the travel demand is affecting by the 4th wave of COVID-19 and the Declaration of State of Emergency, continue topromote diversification and restructuration of the business portfolio from the previous fiscal year, and strategically strengthen the AirTrip
economic zone.

●

Before COVID-19 (FY 19.9 Period) the annual handling volume was 146 billion yen, and in half year, it was 18,1 billion yen, lost above 100
billion yen. However, in the period after COVID-19, it is expected to recover 100 billion yen in has lost in handling volume. Specifically, there will
be a significant recovery in AirTrip Travel Business due to an increase in travel demand due to the spread of vaccination. AirTrip Group will
strengthen alliances and prior investment business to AirTrip Travel Business that is gaining profit, continue the stable growth in 5 businessdomains except for Travel Business and aim to an endless growth by accumulating business revenue by promoting restructuration andbusiness portfolio diversification.
Copyright © AirTrip Corp. All Rights Reserved.

34

FY21.2Q Business Progress

Copyright © AirTrip Corp. All Rights Reserved.

35

Marketing ~ AirTrip Branding Measures ~AirTrip Travel
Business

Promoting “AirTrip” Branding Measures andBenefit Campaigns towards AirTrip members~ Stimulating potential travel demand through promotional campaigns in various fields ~Branding Measures
CPN AirTrip Points Offer

Measures towards members

April Fool Posting

CPN Cinema Ticket Offer

CPN Golf Practicing Ticket Offer※Implemented in March※Implemented in May※Implemented in April

Sponsored by Panasonic Open※Implemented in April※Implemented in April

Copyright © AirTrip Corp. All Rights Reserved.

36

Marketing ~ AirTrip Branding Result ~AirTrip Travel
Business

In addition of awareness increase, we have achieved stable increase in “AirTrip”
Keyword search volume by various Branding Measures.
~ Even under the State of Emergency, Keyword search volume has soared high ~Declaration of State ofEmergency(2021/1/8)

End of State of Emergency(2021/3/21)
Prior Measures such as spread
prevention(2021/4/9)

Even under the State ofEmergency, AirTrip KW searchvolume has increased

Travel demand dramatically decreased
due to the 4th wave of COVID-19 andprior measures such as spread
prevention.

January 2021

February 2021

March 2021

Copyright © AirTrip Corp. All Rights Reserved.

April 2021
37

Marketing ~ Mass Advertising Measures revolving around TV Advertising Broadcast of our Group affiliated Clinics~
Healthcare
Business

To capture the exploding demand for PCR test, we have improved the recognition of ouraffiliated clinics through mass advertising revolving around TV Commercials~ Implemented promotion measures like distributing information
through TV Commercials/ Transit Advertising/ News Channel ~TV Advertising Broadcast・Youtube Video Ads

Broadcasting news about affiliated Clinics on TV News Channel
TBS「News23」“Super J Channel” on Asahi

Transit Advertising“newsTOKYOFLAG” on Tokyo MX

Copyright © AirTrip Corp. All Rights Reserved.

38

Marketing ~ Result of advertising measures revolving around TV Advertising Broadcast of our Group affiliated Clinics~
Healthcare
Business

The demand for PCR Test under the State of Emergency is expected to beable to steadily captured due to the effect of Mass Advertising revolving
around TV Commercials.
~ PCR Test reservation number registered via Website has dramatically increased ~TV Commercials
Broadcast Period
Reservation number(via Website)

PCR Test Reservation number
increased dramatically by the effect ofMass Advertising like TV Advertising.

Continuing steadily WEB sales and maintaining the reservation
number at the level of about 30 times more than December by theeffect of raising recognition through TV Commercials

Start TV Advertising Broadcast
about PCR Test(1/8～)

December 2020

January 2021

February 2021

March 2021

April 2021

※The above numbers are preliminary figures for PCR test kit (home delivery) reservation numbers via Website.

Copyright © AirTrip Corp. All Rights Reserved.

39

Domestic Airline Ticket ~ Operating Profit significantly increased by capturing demand for domestic airline ticket ~AirTrip Travel
Business

Operating Profit has significantly increased by strongly capturing demand forDomestic travel and promoting optimization of variable costs~ Operating Profit achieved 323 % compared to last period 2Q ~＜Changes in Domestic Airplane Ticket’s Operating Profit＞
Operating Profit

Operating
Profit（2Q’Actual Value）

323%

Strongly capturing Domestic Travel Demand in
COVID-19
Expected to improve topline by capturing travel
demand with marketing measures.

※Compared toFY20.2Q

Operating Profit significantly increased bypromoting variable costs’ optimization.
Succeeded in improving high profit margin bypromoting cost control to optimize variable costs
along with the change in demand.
FY20.2Q

FY21.2Q
Copyright © AirTrip Corp. All Rights Reserved.

40

Domestic AirTrip Plus (Airplane Ticket + Hotel)~ Operating Profit dramatically increased with UI/UX improvement and promotion measures ~AirTrip Travel
Business

Operating Profit dramatically increased
with UI/UX improvement and promotion measures~ Achieved 247% in Operating Profit compared to last period 2Q ~＜Changes in Operating Profit of domestic DP (Airplane Ticket + Hotel)＞Operating Profit

Operating
ProfitFocusing on UI/ UX improvement and contributing toincrease topline（2Q Actual Value）

247%

Succeed in improving topline by applying hotel namesearch function and transit function to capture travel
demand.

※Compared toFY20.2Q

Improving operating profit by reducing fixed costs
and optimizing advertising costs
By reducing fixed costs and optimizing advertising costs,
operating profit margin has significantly increase, succeedin transforming into a highly profitable structure.
FY20.2Q

FY21.2Q
Copyright © AirTrip Corp. All Rights Reserved.

41

Domestic AirTrip Plus (Airplane Ticket + Hotel)~ Pursuit of convenience improvement by adding new functions aiming to capture new travel demand ~AirTrip Travel
Business

Pursuit of convenience improvement by adding new functions
aiming to capture new travel demand~ Meeting various customers’ needs by adding new functions ~Adding Keyword searchfunction for Hotel Name andLodging Areas

Applying Amazon Pay as a new
payment method

Applying Transit function inorder to expand reservation
sections

Before, it was only available to search forhotels of a specified area. But now, keyword
search for hotels’ name and lodging areas
are available, that makes looking for adesired hotel become more simple.

Applying Amazon Pay to diversify payment
methods. There is now no need for
inputting registered email address or Card
information at payment.

Applying a transit function to make itpossible to gain reservations for sections
other than those that only operate directflights (※Started in April 2021)

Copyright © AirTrip Corp. All Rights Reserved.

42

Domestic Hotel ~ Operating Profit dramatically improved by capturing new stay demand ~AirTrip Travel
Business

Gross Profit and Operating Profit significantly improved by promoting approach topotential accommodation demand during COVID-19 and providing new UX~ Achieved 176％ in Gross Profit and 227％ in Operating Profit ~< Changes in Domestic Hotel’s Gross Profit/ Operating Profit>
Gross Profit

Gross Profit

Operating Profit（2Q’s Actual Value）

176%

Achieved improvement in customer attraction and CVR
through content and promotion measures that stimulate
accommodation demand during COVID-19.

※Compared toFY20.2Q

Operating
Profit（2Q’s Actual Value）

227%※Compared toFY20.2Q

FY20.2Q

Promoting approach to potential accommodation
demand during COVID-19

Achieved significant improvement in topline byproviding new UX
Achieved a significant improvement in the top line bysignificantly renewing and adding functions to the site
pursuing customer fresh experience.

FY21.2Q
Copyright © AirTrip Corp. All Rights Reserved.

43

Domestic Hotel ~ Execute strategy to capture accommodation demand in the new normal era ~Airtip Travel
Business

Implemented various measures to captureaccommodation demand in the New Normal era~ Further strengthening customer contact points to meet potential accommodation demand during the COVID-19 period~
Strengthening purchasing andsales of AirTrip special selectedfacilities

UI / UX improving to capture
new accommodation demand

Executiving a big discountcampaign AirTrip Point 20％

Implementing "Super Discount"campaign to support new travel
styles

エアトリ厳選施設の仕入及び販売強化

エアトリ厳選施設の仕入及び販売強化

エアトリ厳選施設の仕入及び販売強化

エアトリ厳選施設の仕入及び販売強化

In conjunction with the new AirTrip
commercial broadcast at the PanasonicOpen Ladies Golf Tournament, we havecarried out a campaign to return 20%
AirTrip points to customers who madereservations during the Golden Week period.

Aiming to capture the demand foraccommodation during the New Normal era,
we will carry out a "super discount"campaign to support new travel styles.
Discounts of up to 64% off from the regular
price will be applied, making it possible tostay at a better price than usual.

Promoting sales enhancement by signingsales contracts with major chain hotels
Royal Park Hotels, Shigira Seven Miles
Resort, Premier Hotel Group, andSumitomo Real Estate Villa Fontaine

In order to enhance the hotel searchfunction, adding a keyword search function
by utilizing customer search data, it ispossible to search the desired area from themap of Japan with one click, and to promote
capturing new accommodation demand.

Copyright © AirTrip Corp. All Rights Reserved.

44

Domestic Tours ~ Expanding various contents to capture demand ~AirTrip Travel
Business

Expanding various tour products such as hotels,
highway buses, and rental cars
~Consider various plans and devices to capture new customer demand~
Limited collaboration plans withaccommodation suppliers

SUNQ Pass (Highway Bus)’s
Set Plan

Designing AirTrip limited plans andother plans with special benefits.
Started selling original local plans invarious parts of Japan.

Starting selling plans with free passtickets that allow unlimited rides on
almost all lines and some ships of
Kyushu highway buses
Copyright © AirTrip Corp. All Rights Reserved.

Plan designed for Drive trip
(Rental car + Hotel)

Selling a drive trip that includes arental car and a hotel to meet the travel
demand in the suburbs

45

Overseas Airline Ticket / Overseas Hotel / Overseas AirTrip Plus (Airline Ticket + Hotel) ~ Continuing to reduce costs~
AirTrip Travel
Business

Continuing to reduce costs in Overseas Travel Domain~ Succeeded in reducing 95% compared to previous 2Q by minimizing advertising costs ~<Comparison of advertising costs in the overseas travel area>
Minimizing marketing costs and prepare for resumption
Advertising Cost

Advertising
Cost

△95%
※Compared toFY20.2Q

While continuing to suspend paid advertising, we will watch
for trends in Japan and all other countries in the world andprepare to resume advertising.
Optimal pricing considering market conditions

We carefully examined the appropriate price range fromdaily user trends and implement optimal pricing according
to the situation.

Thorough investigation on future cost-cutting
potential and further reduction of fixed cost

FY20.2Q

FY21.2Q

Review the business content based on the cost
reduction plan to further reduce fixed costs

Copyright © AirTrip Corp. All Rights Reserved.

46

Overseas Airline Ticket / Overseas Hotel / Overseas AirTrip Plus (Airline Ticket + Hotel)~ Promoting UI / UX improvement in overseas travel area ~AirTrip Travel
Business

Stimulating Website’s UI/UX improvement to recover Overseas Travel Demand~ Improving convenience considering overseas travel demand during with the COVID-19 period ~Promoting function renovation to recover overseas
travel demand

To recover overseas travel demand, we will accelerate
website UI / UX improvements such as expanding the
product lineup, thoroughly examining the validity ofselling prices, and adding site functions.
Expanding areas where negative certificates required
for entry can be issued
Obtaining immigration information of each country as soon
as possible, expanding the target area including Asian
countries such as Hawaii, China, and South Korea, andpromoting preparations for deregulation of immigration inother countries.
Copyright © AirTrip Corp. All Rights Reserved.

47

Group companies: PikaPaka~ Changes in the total number of subscribed companies for corporate business travel support services ~Healthcare Business

Cumulative number of corporate business trip support service contracts

Promote contract acquisition for new client companies and further strengthen profit base
（Number ofcontracted company）

Increase by acquisition ofDeNA Travel Co., Ltd.

Copyright © AirTrip Corp. All Rights Reserved.

3,545

48

Group companies: PikaPaka ~ Increasing in number of company subscribed for PCR Test
Healthcare BusinessTotal subscribed company requested for PCR test continues to increase~ Meeting the demand for PCR testing by providing testing methods according to the needs of companies ~<Changes in number of PCR test subscribed company>

Providing Test methods that meet various corporate
needs

Number of subscribed company

By expanding the three patterns of inspection methods:
Visit Test, Hospital Test, and Home delivery Test, wehave fulfilled various demands for PCR test andachieved a significant increase in the number ofsubscribed companies.

With the spread of COVID-19, the numberof companies subscribed for PCR test
has increased significantly.

Capturing PCR test demand due to the spread of
COVID-19

20.12

21.1

21.2

21.3

21.4

As the number of COVID-19 infection cases isincreasing every day, we will surely capture the demandfor PCR test by home delivery service from companies
through promotion measures such as TV and transit
advertising.

Copyright © AirTrip Corp. All Rights Reserved.

49

Starting an alliance of PCR Test Service provided by AirTrip Group for overseas travelers on Asiana Airlines
official website
Healthcare
Business

Starting an alliance of PCR Test Service provided by AirTrip Group foroverseas travelers on Asiana Airlines official website!!
~ It is also possible for overseas travelers,such as traveling to South Korea to obtain a PCR negative certificate ~Copyright © AirTrip Corp. All Rights Reserved.

50

(Repost) Group companies: PikaPaka~ Continuing reservation for PCR test and antibody test for corporate customers ~Healthcare
Business

Continuing reservation for PCR test and antibody test for corporate customers
as part of supporting measures against COVID-19 infection!!
Reservation service
for PCR test andantibody test

Corporate
customers

Corporate
MedicalInstitutions

Pika Paka Co., Ltd.
Medical service(AirTrip Group Company)

Employee andtheir family

Test
Guide

Test
Reservation

Individual
customers

・Test Reservation
Agency・ Health (negative)
certificate publish
Agency・Invoice settlement
AirTrip
supportmember・Providing information
COVID-19 in eachcountry
Copyright © AirTrip Corp. All Rights Reserved.

Test
request51

Investment Business ～ Continuing to invest for further growth～
Investment
BusinessStrengthening the investment development of 66 companies
Total investment amount is about 2.7 billion yen※As of May 2021･･･etcCopyright © AirTrip Corp. All Rights Reserved.

52

Basic agreement on business alliance with Cabin and transfer of all shares of our group companies - National
Ryutsu Sangyo
Investment
Business

Basic agreement on business alliance with Cabin, which operates a ticket broker,
and transfer of all shares of our subsidiary - National Ryutsu Sangyo~ Promoting share transfer as part of diversification and restructuration of business portfolio ~Signing Business Alliance Agreement

Transferring all shares held by our company

Copyright © AirTrip Corp. All Rights Reserved.

53

Investment Business ~ Capital and Business Alliance with AJ Inter Bridge Inc.
Investment
Business

Forming Capital and Business Alliance with AJ InterBridge Inc., a company
developing Property Management Services for Accommodations and Renovation
and Development Consulting Business!
~ Aiming to create the synergy that utilized the strength of both companies in Inbound domain~

Capital and Business
Alliance

Copyright © AirTrip Corp. All Rights Reserved.

54

Appendix“AirTrip 2021” Growth Strategy~ "Restart" ~ New growth strategy after COVID-19~"AirTrip Group will restart" ~Copyright © AirTrip Corp. All Rights Reserved.

55

FY2021 ”Restart” ~The beginning of the second stage after being listed~

Four years and a half after being listed is considered as “The first stage” and"Restart” FY21.9 as “The beginning of the second stage”~ Reducing impairment loss to approximately 7.4 billion yen
and continuing to aim for "AirTrip 5000“~※ Announced in “FY20 Results of operations” (Nov 14th , 2019)

FY16

FY17

FY18

FY19

FY20

FY21～

(After Mar 31st, 2016)

The first stage
After being listed (March 31st, 2016)~ FY20 (Sep 30th, 2020)
Organize the assets related to the first stage
to reduce loss

Copyright © AirTrip Corp. All Rights Reserved.

”Restart” the beginningof the second stage~Restart~
Continue to aim for "AirTrip 5000"

56

FY2021 ”Restart” ~ Image of the second stage after being listed ~"Restart“FY21.9 as “The beginning of the second stage"
Creating new business domain by starting up
healthcare businessContinuing steady growth in 4 existing businessdomains excepting the travel domain

Healthcare
Business

IT offshore Development
Business

Japan Inbound Travel
Business / Wi-Fi Business

Recovering revenue of AirTrip Travel BusinessLife Innovation Business
Investment
Business

The beginning of the
2nd stage after
being listed“Restart”

AirTrip Travel
Business

FY20.9 Period
Copyright © AirTrip Corp. All Rights Reserved.

FY21.9 Period
57

"AirTrip 2021“ Growth strategy ~ ”Restart” ~ AirTrip Travel business

Revenue expansion focusing on the domestic travel domain byutilizing GoTo Travel~ Definitely capture domestic travel demand by effective digital marketing centered on WEB video
advertising~
Growth strategy of AirTrip Travel business●●

Action plan of AirTrip Travel businessIn the domestic travel domain, we aim at revenue expansion
throughout the year by continuing high rate of growth in 1Q~2Q withutilizing GoTo Travel, increasing travel demand during GW in 3Q
and increasing travel demand during summer in 4Q.
In the overseas travel domain, we aim at stabilizing by travel
restriction in 1Q~2Q, assuming recovery demand by relaxation
restriction mainly in business travel in 3Q, increasing overseas
airline ticket demand by the effect of Tokyo Olympic and recovering
revenue by cross-selling sales with PCR tests in 4Q<Changes in forecast revenue of AirTrip Travelbusiness in FY21.9>(Revenue)<Measures to utilize GoTo Travel for revenue expansion>・ Strengthening sales of all target products of GoTo Trave
・Strengthen cross-selling sales of domestic airline ticket anddomestic hotel

Domestic
Travel<Capturing demand by digital marketing>・Acquiring new customers by YouTube video
advertising・Optimizing SEM to capture GoTo travel demand

Domestic Travel
Overseas Travel

Overseas
Travel

1Q

2Q

3Q

4Q

<Thoroughly improving UI/UX to increase CVR>
・Optimal design UI/UX for GoTo travel users
・Providing UI/UX that captures travel demand after
COVID-19<Formulating a profit recovery plan by assuming relaxation
restriction>
・Delivery travel information according to overseas relaxation
restriction information
・ Capturing from business travel demand to travel demand
・Preparing cross-selling sales of overseas travel and PCR test

(Time)
Copyright © AirTrip Corp. All Rights Reserved.

58

"AirTrip 2021“ Growth strategy ~ ”Restart”~ Continuing to develop 4 existing business and start up healthcare business

Creating various business portfolio after the COVID-19 period~Continuing to develop existing businesses focus on Life innovation and Investment field,
Creating various business portfolio by starting up new healthcare business~
Growth strategy for 4 existing businessand 1 new business

●

●

●

Aim to acquire new customers and increase profit bypromoting various content distribution and renewing thefunction of “MagMag Live”, a Live streaming service operatedby MagMag
The healthcare business (PCR Test Reservation Agent
service) developed by PikaPaka company aim to build profit
basis and gain increasing PCR test demand by expanding
Testing methods (Test at hospital/Office visiting test/Homedelivery test kit) and by various methods to attract customers,
sales promotion.
Other IT offshore development business and overseas travel
aim to establish a business foundation focus on domains
which have prospect to grow in medium and long term bygrasp the need of After Covid 19 period

Action plan for 4 existing and 1 new businessLive
Streaming
Service<Renewing functions of Live streaming service>・Being able to use on not only on app but also on PC
・Expanding functions pursuing UX on both streaming sideand viewer side.

<Gaining demand by different contents streaming>
・Developing contents such as sport event videos
・Getting new customers by large events or live games.

Healthcare
Business<Expanding service to meet the increasing PCR test demand>・Acquiring demand by expanding test methods (Test at
hospital/Office visiting test /Home delivery test kit)・Attracting customers and promote sales both online and offline
・Building test reservation reception system in English andChineseOther
businessbase<Build business portfolio that is expected to grow>・Considering new value provided after COVID-19
・Identifying business domain with growth potential tofocus onCopyright © AirTrip Corp. All Rights Reserved.

59

“AirTrip 2021” Growth Strategy ~ “Restart” ~ Starting up Healthcare Business as new businessStarting up Healthcare Business as new business baseCut out from the Life Innovation Business and started up as a new business

ヘルスケア事業
Health Care

Copyright © AirTrip Corp. All Rights Reserved.

60

“AirTrip 2021” Growth Strategy ~ “Restart” ”~ Investment Strategy

Continuing to strategically and actively invest on developing domains~Thoroughly understanding the business environment that is expected to change after COVID-19 andcontinuing to actively invest on growing domains that enhance synergy with Group~
Growth Strategy of Investment Business

Action Plan of Investment Business

Accurately grasp changes in the business environment after
COVID-19 and strategically and actively invest on growing
domains that emphasize synergy with our Group
Strategic investment decisions will be focused on (1) How
much synergy can be expected with the Group?, (2) Is it abusiness domain that can be expected in mid-to-long term?,and (3) Can we expect early profit contribution?
Aim to improve the accuracy of a series of processes from
M&A target selection to DD → negotiation → contract → PMI,
and improve process structure and growth rate after grouping

Strategicaland active
investment<Plan of strategical investment after COVID-19>
・Accurately grasp the business environment after COVID-19
・Determine mid-to-long term growth and profitability of target
domains
・・Estimate whether investment can cause discontinuous
growth or not

Determine
investment
domains<Identification investment target domain after COVID-19 >・Emphasize synergistic effect with our Group・Determine whether the business area is expected to grow・Quantitatively evaluate the early profit contribution rate afterinvestment<Estimation Key points of strategical investment on investment business>

Improve
growthrate after
M&A<Pursuing growth rate improvement after grouping
through M&A>
・Systematize a series of processes in M&A
・Increase the M&A contract rate by committing management
・Verify the feasibility of synergy with precise DD
・Improve PMI accuracy and improve growth rate after M&A●●●

Synergywith ourGroup

Mid-to-longtermgrowing
domain

Early profit
contribution

Copyright © AirTrip Corp. All Rights Reserved.

61

“AirTrip 2021” Growth Strategy ~ “Restart” ~ Financial Strategy：Maintain healthy financial structure by increasing liquidity

Continuing to maintain the high level of on-hand liquidity~Forecast of the financial health improvement on this term~
Financial Strategy●●

Action plan of Financial Strategy

Maintain a healthy financial structure of the businessenvironment that uncertainty is growing after
COVID19 by strategically increasing on-hand liquidity
Action to increase on-hand liquidity: (1) Cut down
entire company’s cash out (2) Visualize the wholegroup on-hand current account balance (3) Byvarious fundraising method, aim to increase financial
health focusing on ensuring cash.
〈The transition of Group’s consolidated financial health〉

Financialstrategy
formulation<financial strategy formulation after COVID-19>
・Capture the business environment after COVID-19
・Raise on-hand liquidity to increase financial health・Increase financial and investment capacity for thedevelopment

Increasingliquidity
plan<Plan to increase on-hand liquidity for maintaining
financial health>・Restrain cash out in entire company.
・Visualize the whole group’s on-hand account balance.
・Consider different fundraising methods.

Mid-tolong term
policy<Mid-to-long term policy to increase on-handliquidity>
・Relatively reduce dependance on travel domain.
・Continue the preparation of listing of 2 main
subsidiaries (IPC/HT)・Establish new revenue basis by growth investment.

Cash
Cash

Equity Ratio

7 Billion
yen※End of
FY20.4Q

3Q

4Q
Copyright © AirTrip Corp. All Rights Reserved.

62

・These materials contain forward-looking statements related to industry trends and the Company’s business development based on the Company’s current expectations, estimates, and forecasts.
・ A variety of risks and uncertainties are inherent in the assertions made in these forward-looking statements. Known and unknown risks, uncertainties, and other factors may result in differencesfrom the statements included in assertions related to forward-looking statements.
・ The Company’s actual future business and operating performance may differ from the forward-looking statements contained in these materials.
・ The assertions related to forward-looking statements made in these materials are based on the best information currently available to the Company and will not update or revise any forward-

looking statements to reflect future events or conditions.

AirTrip Corp.
(Tokyo Stock Exchange 1st Section：6191)
19th Fl. Atago Green Hills Mori Tower, 2-5-1 Atago, Minato-ku, Tokyo 105-6219
TEL 03-3431-6191
https://www.AirTrip.co.jp