Financial Results Briefing
for Q1/2022
February 10, 2022

This report contains forward-looking statements on business performance based on the judgments, assumptions, and beliefs
of management using the information available at the time. Actual results may differ materially due to changes in domestic oroverseas economic conditions or changes in internal or external business environments or aspects of uncertainty contained in
the forecasts, latent risks or various other factors. In addition, risk and uncertainty factors include unpredictable elements that
could arise from future events.

Copyrights (c) 2022 MTI Ltd. All Right Reserved

Contents
P.01 Financial Results
Overview for Q1

P.15

02 Financial highlight

16 Basic policies and priority issues

03 Consolidated P/LApproach in
Q2 and beyond

for FY2022

04 Consolidated SG&A

17

Cloud drug record service

05

19

Maternal health record book app

Performance by segment

14 Progress for earnings forecast+ Childcare DX services
27

Earnings forecast for FY2022

28 Image of medium-term profit

P.29 Appendix
30 Consolidated B/S
31 Consolidated P/L
32 Consolidated SG&A
33 Content Business

34 The list of main healthcare services
35 Overview of healthcare services
36 Cloud drug record service
37 Maternal health record book app
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Financial Results Overview for Q1 FY2022

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1Financial highlight
１

Q1 Results
・Net sales ¥6,551 million(Up ¥246million, Up 3.9％, YoY)

・Operating income ¥451 million
2(Down ¥102million, Down 18.5％, YoY)

Good progress towards first-half financial forecast
・Net sales: 49.4 ~ 51.4%
・Operating income: 45.1 ~ 50.2%

3

Q1 Results
・Healthcare business: Extensive introduction for cloud drug record service
・Content business: Growth of security-related app

Copyrights (c) 2022 MTI Ltd. All Right Reserved2Consolidated P/L
Net sales : Slight increased in earning
Operating income : decreased（Unit：Mil yen）

FY2021Q1

FY2022
Q1

Net sales

6,304

6,551

Cost of sales

1,593

1,895

（ratio)

25.3％

28.9%

Gross profit

4,711

4,656

（ratio）

74.7%

71.1%

SG&A

4,157

4,204

（ratio）

65.9%

64.2%

Operating income

553

451

（ratio）

8.8%

6.9%

Ordinary income

495

395

（ratio）

7.9%

6.0%

Profit attributable toowners of parent

220

252

（ratio）

3.5%

3.9%

YoY
AmountPercentage

+246

+3.9%

+301

+19.0%(55)(1.2%)

+47

+1.1%

(102)

(18.5%)(99)(20.2%)+32+14.7%

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Expansion of
AI business3

Consolidated SG&A：
Personnel expenses : increased

Other expenses : decreased（Unit：Mil yen）

FY2021Q1

FY2022
Q1

YoY

AmountPercentage

4,157

4,204

+47

+1.1%

337

360

+23

+6.9%

1,743

1,912

+169

+9.7%

Commission fee

789

753

(36)

(4.6%)

Subcontract
expenses

441

440

(1)

(0.4%)

Depreciation

272

303

+30

+11.3%

Other

573

435

(137)

(24.0%)

SG&A
Advertisingexpenses
Personnel
expenses

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Increase indevelopment
personnel

Decrease in rents
due to the shift
to a teleworking
system4

Performance by segment

Content Business

Healthcare Business

Other Business

BtoC/BtoB

BtoC/BtoB/BtoBtoC

BtoB

Content distribution
service

Existing healthcare service
New healthcare service

AI service , DX service
For corporate solution
service

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5

Content business: Net sales and operating income（Unit：Mil yen）
4,848

4,639

1,709

Decreasedsales and profit＋： Original comics are growing
1,534－：The number of paying subscribers
decreased
FY2021

FY2022

1Q

1Q

Net sales

Operating income

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6

Content business: The number of paying subscribers

Total paying subscribers

3.95 million subscribers
5.00

4.81

4.67 4.59
4.48 4.38

FP 0.11
million people
decreased

4.23 4.16

Degree of decrease
is being reduced

3.95

4.25 4.08
3.96 3.88 3.78
3.69 3.57 3.52
3.33

・Brisk Security-related apps
・Breaking away from thenumber of paying subscribers
on feature phones

0.75 0.73 0.71 0.71 0.70 0.69 0.66 0.64 0.62
1Q

2Q

3Q

4Q

1Q

FY20202Q

3Q

FY2021
ヘルスケア事業

4Q

1Q
FY2022

コンテンツ事業

FP…The number of paying subscribers on feature phones* The number of paying subscribers are including healthcare business ‘Luna-lunaand ‘Caradamedica’ whose business model are monthly paid business above.
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7

Content business: Security-related app

Security-related apps are growing
Over 300,000 people

Four functions

Ad blocking
1Q

2Q

3Q
FY2021

4Q

Trace blocking

1Q

Threat blocking

Parent function（Child protection
function）

FY2022

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8

Content business: Original comics content businessNet sales

Up 80% year-on-year
Increase in comic titles introduced
The serialization of hit titles contributed

1Q

2Q

3Q

FY2020

4Q

1Q

2Q

3Q

FY2021

4Q

1Q
FY2022

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9Healthcare business: Net sales and operating income（Unit：Mil yen）
922

908

Net sales levelled off+：Expansion of Cloud drug record service－: The number of paying subscribers
decreased
(336)

(351)

FY2021

FY2022

1Q

1Q

Net sales

operating income

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10Healthcare business: The number of paying subscribers

Healthcare paying subscribers(LunaLuna,CARADA medica)

0.62million subscribers

Leveling off
Breaking away from the number of paying
subscribers on feature phones(Ceasing to fall from now)

1Q

2Q

3Q
FY2021

4Q

1Q
FY2022

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11Healthcare business: Cloud drug record service

864

864

Pharmacies
introduced

765

Extensive introduction

633
573

・Up 99 from the previous quarter

451
357
285

163
64

1Q

2Q

3Q

FY2020

4Q

1Q

2Q

3Q

FY2021

4Q

1Q
FY2022

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12Other business (AI,DX business, etc.):
Net sales and operating income（Unit：Mil yen）

1,316

Expansion of AI businesses
Expansion of DX support business

820

(101)

(157)

FY2021

FY2022

1Q

1Q
売上高

営業利益

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13Progress for earnings forecast
Good progress towards sales and profits（Unit：Mil yen）

FY2022

FY2022

Q1 Actual

H1 Forecast

Progress
ratio

6,551

12,750～13,250

49.4～51.4%

Operating income

451

900~1,100

45.1～50.2%

Ordinary income

395

700～900

43.9～56.5%

Profit attributable toowners of parent

252

300～500

50.6～84.3％

Net sales

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14

Approach in Q2 and beyond

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15Basic policies and priority issues for FY2022
Content business： Securing profit
Healthcare business： Further sales growth
1. Healthcare business① Further expansion of the Cloud drug record service② Promotion of the platform strategy of the childcare DX, "Boshimo"

2. Content business① Original comics content business growth② Security-related app

3. Other business (AI,DX business, etc.)① AI business expansion② Expansion of DX support business
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16Cloud drug record service
Linking medical institutions and patients
Cloud drug record service

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17Cloud drug record service

Further increase in thenumber of pharmacies
introducing the service

Aim formore than

2,000
pharmacies
introduced

・Collaboration with
Medipal Holdings
Corporation, a major prescription
pharmaceutical wholesaler
・ Collaboration with large system companies
that provide services to pharmacies
・・・

1Q

2Q

3Q

FY2020

4Q

1Q

2Q

3Q

FY2021

4Q

・Commenced partnership with
Mitsubishi Electric IT Solutions Corporation
・Commenced partnership with
FUJIFILM Healthcare Systems Corporation

1Q
FY2022
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18Maternal health record book app + Childcare DX services
Connect parenting households and local governments

Maternal health record book app+ Childcare DX services

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19Maternal health record book app + Childcare DX services

Development of the platform businessstarting with the maternal health record
book app "Boshimo"Phase 1：Introducing Maternal health record
book app “Boshimo”
Phase 2：Online consultation
Phase 3：Childcare DX services

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20Maternal health record book app + Childcare DX services
Promotion of the introduction of childcare DX services for thedigitalization of municipal government work
Number of
local governments

Service functions

Expected price plan

Childcare DX services

Monthly：Hundreds ofthousands of yen ~＋Initial：Millions of yen~・Childhood immunization( Digital preliminary
examination slip, etc.）

Phase3・Infant health check・Visits to all householdswith infants

Phase2

Online consultation

Phase1

Maternal healthrecord book app

Number of local
governments nationwide

1,741

Tens of thousandsof yen a month¥50,000~¥100,000/month*A pricing system is set for each local government depending on the number of babies born.
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21

Phase 1 : Maternal health record book app ”Boshimo”
Extensive introduction
at a speed exceeding 100/year429

As of December, 2021

1Q

2Q

3Q

FY2017

4Q

1Q

2Q

3Q

FY2018

4Q

1Q

2Q

3Q

4Q

1Q

FY20192Q

3Q

FY2020

4Q

1Q

2Q

3Q

FY2021

4Q

1Q
FY2022* The calculation is based on the assumption that there exist 1,741 local governments in Japan, according to the website of the Japan Agency for Local Authority
Information Systems.
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22

Phase 2：Online consultation
The number of local governments that introduced the service reached
57 contracts.
Respond to demand from people raising children in remote locations
and during the ongoing COVID-19 pandemic.
Municipal consultation business

Number of “Boshimo”

57

online consultation introducedChildcareconsultation

Infantcare
consultation

Pregnancy
consultation Single-parent
consultation(post-natal
care)

As of September, 2021
Parents

Municipal

Video*The screen is an image.
4Q
FY2020

1Q

2Q

3Q
FY2021

4Q

1Q
FY2022* The calculation is based on the assumption that there exist 1,741 local governments in Japan, according to the website of the Japan Agency for Local Authority
Information Systems.
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23

Phase 3：Childcare DX services
Shifting all procedures for children's immunization from paper to digital.
Realization of digital linking between municipalities, hospitals, and residents.
Anjo City, Aichi
Infant healthexamination
appointments
Digitization

Ichihara City, Chiba
Childhood immunization
Digitization

November 2021

First introduction
nationwide in
November 2021

Ministry of Health,Labour and Welfare

Digitization
Trial adoption
Multiple local
governments
January 2022~
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24

(Reference)

Maternal health record book app + Childcare DX services
Strengthening sales through collaboration with Medipal Holdings Corporationand inbound effect due to greater resident utilization rate

Medipal Holdings Corporation
Support for sales nationwide

Introduction of “Boshimo”
online consultations
Plan for the trial andintroduction of childcare
DX services* Maternal health record book app covers all the prefectures.
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(Reference)

Explanatory drawing of Childcare DX services
Realization of digital collaboration between administration offices,
hospitals and local residents in response to a rise in demand for DX inadministrative services amid the COVID-19 pandemic
Shifting all procedures for children’s
immunization from paper to digital
ServerIntermediate

Duplicateregistration

Government’s
internal
Registration of
inoculation
systemMunicipal

results

Outsourcing agreement

Identificationof target
individuals

Encouraging use

Payment of outsourcing fees

Acquisition of inoculation records
Acquisition and acceptance of invoices

Registration ofresident information

Inoculation
recommendation (issuanceof digital preliminary
examination slip)

Refer from otherapps

Residents

Check preliminary
examination slip

ChildcareDX
services

Preliminary
examination
slip data entry
Reflection of
inoculation
records

Child immunization services

Records of inoculation
results

Immunizati
on facilities

Invoicesubmission

Create inoculation
schedule

Undergo examinations at medical institutions, etc. (inoculation facilities)

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26

Earnings forecast for FY2022（Unit：Mil yen）

FY2021 (Actual)

FY2022 (Forecast)

YoY
AmountFull year

Ratio
Full year

13,000

+256

+1.0%

3,600

3,600

+198

+2.8%

18,800

9,400

9,400

+58

+0.3%

8.416

16,800

8,400

8,400

(11)

(0.1%)

1,232

697

2,000

1,000

1,000

+70

+3.6%

7.5%

9.4%

5.5%

7.7%

7.7%

7.7%

1,370

840

530

1,600

800

800

+229

+16.7%

5.3%

6.4%

4.2%

6.2%

6.2%

6.2%

(1,164)(1,416)

252

800

400

400

+1,964

-

-

-

2.0%

3.1%

3.1%

3.1%

Full year

H1

H2

Full year

H1

H2

25,743

13,046

12,69626,00013,000

7,001

3,419

3,581

7,200

Gross profit

18,741

9,627

9,114

SG&A

16,811

8,395

1,929

Net sales
Cost of sales

Operating income（Ratio）

Ordinary income（Ratio）

Profit attributable toowners of parent（Ratio）※For convenience, the middle points in the range of financial forecasts are shown for the fiscal year ending September 30, 2022.
Copyrights (c) 2021 MTI Ltd. All Right Reserved27Image of medium-term profit (by segment)

Content business
Degree of decrease in the number of paying subscribers is reduced
Focus on highly in-demand contents

Other business (AI,DX business, etc.)
Grow steadily

Healthcare business
Focus on expansion of stock sales (=profit)

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〈Contact us〉
Investor Relations Officee-mail: ir@mti.co.jp
https://www.mti.co.jp/eng/
This report contains forward-looking statements on business performance based on the judgments, assumptions, and beliefs
of management using the information available at the time. Actual results may differ materially due to changes in domestic oroverseas economic conditions or changes in internal or external business environments or aspects of uncertainty containedin the forecasts, latent risks or various other factors. In addition, risk and uncertainty factors include unpredictable elementsthat could arise from future events.

Copyrights (c) 2022 MTI Ltd. All Right Reserved

Appendix

Copyrights (c) 2021 MTI Ltd. All Right Reserved29Consolidated B/S（Unit：Mil yen）

Current assets
Cash and deposits
Notes and accounts
receivable-trade
Other
Allowance for doubtful
accounts

Non-current assets
Property, plant and equipment
Intangible assets
Software
Goodwill
Customer-related assets
Investments and other assets
Investment securities
Leasehold and guarantee
deposits
Deferred tax assets

Total assets

FY2021 FY2022-Q1

Change21,262
15,54018,481
12,722(2,781)(2,817)

4,501

4,545

+43

1,254

1,252

(1)

(33)

(38)

(5)

Income taxes payable

2,156

24 (2,131)

Contract liabilities
Provision for point usage
Other
Non-current liabilities
Long-term borrowings
Retirement benefit liability
Other
Total liabilities
Shareholders’ equity
Share capital
Capital surplus

115
1,554
4,009
2,429
1,572
6
10,665
17,241
5,197
6,660

2,214 +2,214
(115)
882
(671)
3,965
(43)
2,341
(88)
1,617
+44
6
(0)
10,238(426)
15,321 (1,920)
5,197
6,557
(103)

8,665

6,847 (1,817)

10,646
203
3,711
1,791
556
1,333
6,731
4,511

11,130
212
4,239
2,267
673
1,228
6,678
4,076

+484
+9
+527
+476
+117
(105)
(52)
(434)

318

313

(4)

1,803

2,195

+392

30,547

29,612(2,296)FY2021

Current liabilities
Account payable-trade
Current portion of long-termborrowings
Account payable-other

Retained earning

FY2022-Q1 Change

6,655
1,147

6,272
1,093

(382)
(53)

451

452

+0

1,230

1,405

+175

Treasury shares
Accumulated othercomprehensive income
Subscription rights to shares
Non-controlling interests
Total net assets(3,281)(3,281)

-

184

164

(20)

161
3,654
21,243

165
+3
3,723
+68
19,373 (1,869)

Total liabilities and net assets

31,90829,612 (2,296)

Copyrights (c) 2021 MTI Ltd. All Right Reserved30Trends in consolidated P/L（Unit：Mil yen）

FY2020

FY2021

FY2022

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Net sales

6,118

6,855

6,519

6,589

6,304

6,742

6,457

6,238 6,551

Cost of sales

1,627

1,904

1,783

1,814

1,593

1,826

1,728

1,853 1,895

Gross profit

4,490

4,951

4,735

4,774

4,711

4,916

4,728

4,385 4,656（Ratio）

73.4%

72.2%

72.6%

72.5%

74.7%

72.9%

73.2%

70.3% 71.1%

SG&A

3,904

4,090

4,164

4,284

4,157

4,237

4,164

4,251 4,204

Operating income

586

860

570

489

553

678

563

133

451

（ratio）

9.6%

12.6%

8.8%

7.4%

8.8%

10.1%

8.7%

2.1%

6.9%

Ordinary income

404

905

651

121

495

345

428

101

395

（Ratio）

6.6%

13.2%

10.0%

1.8%

7.9%

5.1%

6.6%

1.6%

6.0%

Profit attributableto owners of parent

231

1,014

534

(1,273)220(1,637)

322

(69)

252

（Ratio）

3.8%

14.8%

8.2%

－

3.5%

-

5.0%

-

3.9%

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Q4

Q1

31

Trends in consolidated SG&A
（Unit：Mil yen）

FY2020

FY2021

FY2022

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

3,904

4,090

4,164

4,284

4,157

4,237

4,164

4,251

4,204

Advertising expense

248

241

362

320

337

373

393

413

360

Personnel expenses

1,537

1,548

1,618

1,691

1,743

1,700

1,808

1,847

1,912

Commission fee

829

844

853

815

789

785

777

806

753

Subcontract expenses

305

372

342

406

441

445

452

464

440

Depreciation

307

450

425

437

272

312

261

286

303

Other

675

632

562

613

573

620

472

434

435

SG&A

Copyrights (c) 2021 MTI Ltd. All Right Reserved32Performance by segment
Operating income

Net sales+3.9%(18.5)%

6,551

6,304

553

4,639

4,848

1,709

908

922

△ 336
(101)

(157)
△ 591

△ 695
(286)

2

1,534

△ 351

1,316

820

451

(313)

FY2021

FY2022

1Q

1Q

(6)

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FY2021

FY2022

1Q

1Q

33

The list of main healthcare services
Nam e of service Service of function

Figures are the actual as of end of December 2021.

Business m odel

Maternal and Child Health Handbook service app.
Vaccine scheduling function,parenting curve andinformation provided by local governments.

BtoBtoC.The app is provided at no additional charge forthose of childbearing age including mothers.
Collects monthly usage fees from contracted local
governments nationwide.
The service has been adopted by 429 of 1,741 local
governments nationwide.

Healthcare info service for women.
Forecasting menstrual day & ovulation day.

BtoC.Over 17 million DL cumulative.
Three hundred yen fee or higher for fertility mode and othermodes.

ʻLuna luna medicoʼ

LunaLuna linkage function for gynecologists.
Daily health information for female patients isshown on hospital computers. The service is for
fertility treatment.

BtoBtoC.The service is currently provided at no additionalcharge.
The service has been adopted by 1,000 gynecologists(April).
(Patients are LunaLuna users [free/additional charge])

LunaLuna online
medical examination

Complete online service provided in a single system,from making reservations for gynecologicalexaminations to delivery of drugs from pharmacies

BtoBtoC.
The service charged from February 2021.

Q&A service for doctors and people engaged in
medical services.
Helps eliminate daily health concerns.

BtoC.¥400/month

the system offers full features that are necessary for
online medical examination, from reservations todelivery of drugs and prescriptions .

BtoBtoC.Contracts with clinics and pharmacies.
The service charged from February 2021.

Service for medical examination institutions. Resultsof health checkups, including previous records, aresent to relevant smartphones as a graphic. The
service, which enhances usersʼ convenience,
contributes to increasing the rate of checkups at
health examination institutions.

BtoBtoC.
Collects monthly usage fees from health examination
institutions.

Cloud drug administration record service forpharmacies
The drug administration record navigation function
is highly rated.
Links with the CARADA medical history notebook
app.

BtoB.
Initial cost for introduction + monthly usage fee 864 orders
have been received. Full-scale deliveries started in
December 2019.

(CARADA Health consultation)(CARADA Online medical examination)(CARADA Cloud drug history service)

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34

Healthcare business: Overview of Healthcare services
Developing healthcare information management databases to connect
data in each service

Maternity healthrecord book App

Healthcare information
for women

Healthcare
Q&A service

Online medical
examination

Electronic
medicine
notebook

Daily
management

CheckupCooperation

Ch em ica lth erm om eter
coord in a tion

For pharmacies CARADA pack“Boshimo” Childcare DX

CARADA Medical examination support pack
LunaLuna Medico

Online medical
examination

Onlinemedication
advice（Subsidiary）

Cloud drug record service（Subsidiary）

For enterprises CARADA packFor health insurance CARADA pack
Cloud electronic
medical record service（Subsidiary）

Municipality

Doctors Hospital,clinic*Some images are under development and may differ from the actual ones.

Telemedicine
diagnosis service（Equity method affiliate）

Medical examination Inspection
company
institution

Pharmacy

Pharmacists

Company Health insuranceorganization

School*The services provided by the Group include some services that provide support for medical sites, but do not perform medical activities.
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35

Cloud drug record service

864 pharmacies introduced

September,2021

Aim formore thanMarket development withcloud technologies
Target10,000pharmacies

Pharmacy

Number ofpharmacies acrossthe nation

60,000pharmacies

2,000

What is ‘medication history’?
Patient’s drug prescription records
Pharmacists at pharmacies dispense drugs
based on doctor’s prescriptions. After the
drugs are administered, they monitor theeffects and possible adverse effects throughdirect interaction with patients to prepare adrug administration history for each patient.
Increasing interest in Cloud drug record due tothe revision of the Medical Fee System.

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at an
Early stage

revenue scheme

Spot type

Initial cost for
introduction+

Stock type

Monthly charge forsystem usage

36

Maternal health record book app ”Boshimo”“Boshimo” is a parenting support app that provides seamless support from pregnancy, childbirth and childcare.

Pregnancy・BirthParenting

Weight graph during
Pregnancy health records
pregnancy

NoticeVaccination management

Infant healthcheckup records

Height and weightgraphsGrowth records

Childcare support
facility search

Local childcare events

Questionnaire

Schedule management◯◯◯の子育て情報

New『子育て世代包括支援センター』にご相談ください
風疹が流行しています。予防接種を受けましょう
離乳食教室を開催しました

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〈Contact us〉
Investor Relations Officee-mail: ir@mti.co.jp
https://www.mti.co.jp/eng/
This report contains forward-looking statements on business performance based on the judgments, assumptions, and beliefs
of management using the information available at the time. Actual results may differ materially due to changes in domestic oroverseas economic conditions or changes in internal or external business environments or aspects of uncertainty containedin the forecasts, latent risks or various other factors. In addition, risk and uncertainty factors include unpredictable elementsthat could arise from future events.

Copyrights (c) 2022 MTI Ltd. All Right Reserved