August 5, 2022
For Immediate Release:
MTI Ltd.
Representative: Toshihiro Maeta,President and Chief Executive Officer
Listing: TSE Prime [9438]
Contact: Hiroshi Matsumoto,Senior Managing Director
Tel: +81-3-5333-6323

Notice of Revision of Consolidated Results Forecastfor Fiscal Year Ending September 2022
MTI Ltd. hereby announces that it has revised its forecast for consolidated financial results (announced on May12, 2022) for the fiscal year ending September 30, 2022. Details are as follows.
1. Revision of the consolidated financial forecast for the full fiscal year ending September 30, 2022
(October 1, 2021 – September 30, 2022)
ProfitOperating
Ordinary
Net sales
attributable toincome
incomeowners of parent
Previous announced
forecast (A)Current announced
forecast (B)Differences（B-A）
Differences（%）(Reference)
For the fiscal year ended
September 30, 2021

Net
incomeper share
Yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

25,500~ 26,500

1,000~ 1,400500~ 900

100~ 500

1.82~ 9.12*25,800300(100)(190)(3.47)+300~ (700)+1.2~ (2.6)(700)~ (1,100)(70.0)~ (78.6)(600)~ (1,100)(290)~ (690)--25,743

1,929

1,370

(1,164)(21.8)*The forecast for net income per share released on the previous occasion is a figure taken from the Summary of Consolidated
Financial Results for the First Three Quarters of the Fiscal Year Ending September 30, 2022 (released on August 5, 2022) inwhich figures recalculated on the basis of the number of outstanding shares (excluding treasury shares) as of June 30, 2022 arestated.

2. Reasons for the revisions
With respect to financial results for the first nine months of the fiscal year under review, although net sales
remained steady, the Group suffered operating loss in the third quarter under review, mainly because the recorded
amount of subcontracting expenses was higher than expected, reflecting the stricter recording of software assets
as development expenses (mostly subcontract expenses) in the school digital transformation (DX) business
operated by Motivation Works Inc., a subsidiary of the Company. With the same situation expected to continue
into the fourth quarter, the Group has decided to make downward revisions to operating income, ordinary incomeand profit attributable to owners of parent.
In addition, the Company believes that the spread of the COVID-19 infections has a minor impact on forecasts
for the full-year consolidated financial results at the present time. If any event that is expected to have a serious
impact is identified going forward, the Company will make disclosure promptly.
1＜Points to consider concerning forecasts
Matters stated in this material concerning results forecasts are based on assessments, assumptions andconvictions derived from information available to the Company at the time when this material is published.
They may differ significantly from actual results due to a variety of factors, including future economic
conditions in Japan and overseas, changes in conditions for business operations in Japan and overseas, oruncertain factors and potential risks inherent in forecasts. Those risks and uncertain factors include
unpredictable effects on results that may arise from future events.
Note: This document has been translated from a part of the Japanese original for reference purposes only. In
the event of any discrepancy between this translated document and the Japanese original, the original shallprevail. The Company assumes no responsibility for this translation or for direct, indirect or any other formsof damages arising from the translation.

Contact information for inquiries
Investor Relations OfficeE-mail: ir@mti.co.jp URL： https://ir.mti.co.jp/eng/

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