Fiscal year ended March 2020

Results of Operations
May 28, 2020 (Thu)

COPRO-HOLDINGS Co., Ltd.
Tokyo Mothers / Nagoya Centrex (Code: 7059)

Contents

1. 2020/3 Results of Operations

2. 2021/3 Forecast
3. Strategy for Steady Growth
4. Corporate Profile

2020

1

1. 2020/3 Results of Operations

2020

2

Sales and Earnings
Net Sales

Earnings(Million yen)

(Million yen)

14,00012,00013,122

1,800

1,592

1,600

10,8191,400

10,000

1,344

1,585
1,336

1,200

8,000

1,000

6,000

800

1,084
938

600

4,000

400
2,000

200

0

0
2019/3Up 21.3%

2020/3'19/3 '20/3'19/3 '20/3'19/3 '20/3

Operating profit Up 18.4%
Ordinary profit Up 18.6%
ProfitUp 15.5%
2020

3

FY3/20 Highlights
1. Record-high sales and earnings at all levels
COVID-19 had almost no effect on sales and earnings

2. A larger base of operations by opening four offices(Tokyo Plant Branch, Nagoya Plant Branch, Osaka Plant Branch, Takamatsu Branch)

Increase in people on assignments, progress with negotiations for higher rates,
big increase in placements of engineers at industrial plants

3. Steady progress with measures for medium/long-term growth
Growth of operations outside Japan and activities to raise the workforce
retention rate

2020

4

Summary Statement of Income(Million yen)

Net sales
Cost of sales
Sales-cost ratio (%)
Gross profit
Sales-gross profit ratio (%)
SG and A expenses
Sales-SG and A ratio(%)
Operating profit
Sales-operating profit ratio (%)
Ordinary profit
Sales-ordinary profit ratio (%)
Profit attributable to owners of parent
Sales-profit ratio (%)

2019/32020/3

10,819
7,194
66.5
3,624
33.5
2,280
21.1
1,344
12.4
1,336
12.4
938
8.7

13,122
8,746
66.7
4,376
33.3
2,783
21.2
1,592
12.1
1,585
12.1
1,084
8.3

Change(Amount)

Change(%)+2,303+1,552+21.3+21.6+0.2pt+20.7-0.2pt+22.1+0.1pt+18.4-0.3pt+18.6-0.3pt+15.5-0.4pt

+751
+503
+248
+248
+145

2020

5

Sales Composition (1)Reliance on Japan’s Big Five
General Contractors(Million yen)
14,00012,00013,122
10,819Temporary Staffing by Industry(Million yen)
14,00013,122
10,81912,00010,00010,000

8,000

8,000

6,000

6,000

4,000

4,000

331

1,054
1,080

364

Others+10.1%

1,883

CAD

+7.7%

3,263

Plants+74.3%

2,287

Facilities+20.5%

1,135

2,707

1,954

Public works +17.0%
2,000

20.8%

21.6%

0

2,000

3,690

4,188
Construction +13.5%

02019/32020/3

2019/32020/3A big increase in placements of engineers at industrial plants

2020

6

Sales Composition (2)Sales by Region(Million yen)
14,00012,00013,122
10,819Other regionsof Japan

Sales outside
Tokyo/Nagoya/Osaka area

YoY

+23.2%

10,000

28.6%

8,000

YoY

6,000
Tokyo/Nagoya/Osaka
area

4,000

+20.6%

2,000
0
2019/32020/3Well-balanced growth as sales in regions of Japan other thanTokyo/Nagoya/Osaka area climb steadily
2020

7Quarterly Sales
Consistent Sales Growth (only a minor impact of COVID-19)
3,573(Million yen)

3,376

3,500

3,000

2,824

2,920

3,023

3,149

2,616
2,500

2,457

2,000

1,500

1Q

2Q

3Q

2019/3

4Q

1Q

2Q

3Q

4Q

2020/32020

8

Growth of Engineering Workforce and Utilization Rate
Steady growth in the number of engineers
Number of engineers (end of FY)(Engineers)

Engineer utilization rate

Retention rate*

2,500

98.0

98.1

2,000

75.9

74.8

(%)

100

80

SDGs Target
Up to 82.0%
7.2 points

1,500

60

1,984

1,000

40

1,591
500

1,168

1,297
20

0

Goal is raising theretention rate byusing measures that
put engineers first0
2017/3

2018/3

2019/32020/3＊ Retention rate = Number of engineers (end of FY) / (number of engineers of previous FY + number of engineers hired of the FY)*100

2020

9

Number of Engineers Hired
Engineers hired(Engineers)

800

350

1,063

287

300
250

215

240
203

204

200

257

Experience of Newly Hired Engineers
2020/3

279

178

150
100

Other

23

PlantsCAD

40
Facilities
103

95

50

Public works
96

0

142

1Ｑ

2Ｑ

3Ｑ

2019/3

4Ｑ

1Ｑ

2Ｑ

3Ｑ

4Ｑ

New graduate
56508
Inexperienced

Construction

2020/32020

10

Retention Rate and Utilization Rate
Retention Rate

（％）

100

80

75.0
75

74.7

73.7

Utilization Rate

（％）

97.7

98.0

98.1

98.1

1Ｑ

2Ｑ

3Ｑ

4Ｑ

74.8
95

70

90

65

85

80

60
1Ｑ

2Ｑ

3Ｑ
2020/3

4Ｑ

2020/3＊ Retention rate = Number of engineers (end of FY) / (number of engineers of previous FY + number of engineers hired of the FY)*100

2020

11

Compliance with Japan’s Equal Pay for
Equal Work Requirement
Status at beginning of 2021/3 (vs. end of Jan. ’20)
Effect on sales
Higher staffing service rates(increase in sales per engineer on assignment)

Effect on expenses
Higher cost of sales<Per month>< Per month >24.5million yen

21.0million yen(＋2.6％）(＋3.2％）
202012

Fees Charged per Individual Placed
Benefits of negotiations for higher fees emerged in the second half of 2020/3(Thousand yen)

650
600
550
500
450

１Ｑ

２Ｑ

３Ｑ

４Ｑ

１Ｑ

2019/3２Ｑ

３Ｑ

４Ｑ

2020/3

Pct. of all
engineers(End of 2020/3)

6 ~ years

592

595

602

604

614

617

631

635

3-5 years

557

563

570

569

568

570

586

593

2 years

520

528

536

537

519

518

545

556

1 year

464

487

498

507

499

501

522

528

22%

Average

543

543

546

545

544

541

565

573

36%

15%
27%

* Fees charged are monthly fees, which do not change due to holidays and other differences in working days from month to month.
* Separately from changes in fees charged, there are small changes in the averages because of new hires, resignations and other reasons.
2020

13

Summary Balance Sheet

Cash and deposits
Accounts receivable - trade
Other
Current assets
Property, plant and equipment
Intangible assets
Investments and other assets
Non-current assets
Total assets
Current portion of bonds payable
Lease obligations
Accounts payable
Other
Current liabilities
Bonds payable
Lease obligations
Other
Non-current liabilities
Liabilities
Net assets
Total liabilities and net assets

End of
2019/03

Composition
(％)

4,761
1,526
199
6,486
388
75
524
988
7,474
244
25
1,056
779
2,104
557
42
77
676
2,781
4,692
7,474

63.7
20.4
2.7
86.8
5.2
1.0
7.0
13.2
100.0
3.3
0.3
14.1
10.5
28.2
7.5
0.6
0.9
9.0
37.2
62.8
100.0

(Million yen)
End of Composition Change
2020/03
(％)

4,831
1,856
210
6,897
371
113
647
1,132
8,030
160
26
1,145
1,048
2,379
70
16
76
162
2,542
5,487
8,030

60.2
23.1
2.6
85.9
4.6
1.4
8.1
14.1
100.0
2.0
0.3
14.3
13.0
29.6
0.9
0.2
1.0
2.1
31.7
68.3
100.0

+70
+330
+10
+411
-16
+37
+123
+144
+555
-84
+0
+88
+269
+274
-487
-26
-1
-514
-239
+795
+555

Sales growth

Early redemption of bonds(Interest bearing debt/Total assets: 3.4%)

Increase in retained earnings

2020

14

2. 2021/3 Forecast

2020

15

2021/3 Forecast
Assumes COVID-19 will affect performance during the first half
Net sales (LHS)

Operating profit (RHS)(Million yen)

(Million yen)

20,0002,000

18,0001,592

2020/32021/3(Forecast)

1,670

16,0001,500
14,00013,122

15,398+21.3％+17.3％

1,592

1,670

+18.4％

+4.9％

1,585

1,669

+18.6％+5.3％

attributable to owners of parent

1,084

1,148

YoY

+15.5％+6.0％

Net sales
YoY

12,00010,000

1,000

8,000
6,000

Operating profit
YoY

15,39813,122
500

4,000
2,000

Ordinary profit
YoY
Profit002020/32021/3 (Forecast)
2020

16

Forecast Highlights
Use business climate changes to build a base formedium/long-term growth
1. Responses to working style reforms (limit on extended working hours)• A larger volume of work no longer results in higher sales per employee• Raising fees to reflect the high quality of COPRO engineers; measures to extend
staffing contracts when client companies resume operations

2. Strategy positioning the post-COVID-19 as an opportunity for growth• Reorganization for upgrading recruiting activities, engineer training and follow-up
support after placements = Increase in engineers for temporary placements/Higher
level of skills• Anticipate more mobility for construction sector workers => Measures to add thesepeople to our temporary placement workforce

3. Strengthen capabilities for supplying engineers for industrial plants• Continue many activities for growth centered in offices that specialize in serving
industrial plants
2020

17

Effects of COVID-19 (1)Current effects
Effects at workplaces (teleworking, standby at home, etc. *As of May 12)
Engineers as of April 30: 2,074
Teleworking, etc.

Compensation

Full salary
178 projects,
253 people (12.2%)

Projects

PeoplePercentage

222 10.7%

159

No compensation

3

3

0.1%

Not decided, other

19

28

1.4%

Percentages are the share of 2,074 people.

Effect on results of operations: Expenses of about 18 million yen for
employee safety and support measures (explained on the next page)
2020

18

Effects of COVID-19 (2)Employee safety and support measures
COPRO sends real-time information to the smartphones of all employees• Established a COVID-19 Response Committee for information sharing and extensive countermeasures• Distributed 50 masks to each employee and 25 masks to newly hired people; visitors also receive a mask
Workplaces• At all locations, a hypochlorous acid mist is constantly added to workplace air during working hours.
• At all locations, room entry management systems requiring contact are turned off during working hours toprevent infections due to contact.

Job formats• Business travel is prohibited, as a rule; meetings and other gatherings are minimized; if a meeting is held,
small spaces/proximity is avoided.
• Staggered working hours; teleworking for some departments (security manager uses a remote connection)• An internal flow is established with tighter requirements than the national gov’t standards (temperature of
37.0 degrees, for example); restrictions on going to a workplace. (special paid time off)
• All employees required to check and record their temperatures when leaving and returning home and fourtimes at workplace. (All workplaces have non-contact thermometers.)• All employees must wash their hands, wear a mask and use alcohol-based hand sanitizers.
• Telephones at reception are cleaned using an alcohol-based disinfectant.
2020

19

Dividend Policy
To increase the dividend payout ratio while maintaining the proper balance
between dividend payments and investments for future growth.
(Yen)

70
60
50
40
30
20
10

28.7

20.2

30

2

26.1

18.5

40

50

40
20

20

Interim dividend0
2018/30
2019/320
2020/320
2021/3見込

上場記念配当Year-end
dividend

0.0
30
30.0
0

2.0
40
40.0
2

0.0
40
40.0
0

0.0
50
50.0
0

Total
配当性向(％)

0.0
30
20.2

0.0
42
18.5

20.0
60
26.1

20.0
70
28.7

Payout ratio (%)

20.2

18.5

26.1

28.7

普通配当(期末)
Commemorative
dividend(newly listed)
普通配当(中間)

2020

（%）

35
30
25
20
15
10
5

20

After-Hours Sale of COPRO Shares
After-Hours Sale Planned for May 28-June 1, 2020 (Announced May 20)

1. Number of shares:

166,100

2. Planned date:

May 28 to June 1, 2020

3. Price:

Based on closing (or indicated) price on May 27

4. Limit on purchases:

200 shares per buyer (units of 100 shares)

5. Exchange:

Tokyo Stock Exchange

6. Purpose:

COPRO is making preparations to move its stock listings to the firstsections of the Tokyo and Nagoya stock exchanges. The sale will
increase liquidity and the number of shareholders and improve the
distribution of share ownership in order to help meet the formal
requirements for the first section listings.

This sale may be canceled or postponed if the sale is no longer possible due to stock market
volatility or some other reason.

2020

21

Restricted Share-based Remuneration Plan
Summary and purpose
The purpose of the plan is to link the compensation of directors (excluding outside
directors) with results of operations and shareholder value, thereby giving these
directors a greater incentive to contribute to COPRO’s growth.
→ This plan aligns the interests of directors with those of shareholders andmotivates directors to achieve medium/long-term growth in sales andearnings and corporate value.

GrantedGrant of the restricted shares (no cost)
Performance targets

End of restriction

If targets are achieved
Shares can be sold

*The plan will require the approval of a proposal to establish this plan at the shareholders meeting to be held on June 24, 2020.
2020

22

For more information about this presentation

COPRO-HOLDINGS Co., Ltd.
Administration Department
Telephone: 0120-253-066 (toll free)Internet: Please submit the question form at thefollowing URL
https://www.copro-h.co.jp/contact/

2020

23

3. Strategy for Steady Growth

2020

24

Long-term Vision
Long-term Vision
Our goal is to be the preeminent engineer staffing services group and anorganization that customers and engineers always choose over others.

The industry’s leading brandKey goals

Preserve and reinforce competitive superiority
Outstanding retention rate + Even stronger training capabilities

2020

25

Strategic Goals

1 Full-scale start of the overseas

2 Actions for increasing the engineer
retention rate
3 Growth while contributing to a sustainable
society

2020

26

Growth Strategies (1) Overseas ProjectOverseas Project (1)Growth outside Japan● Established a subsidiary in Singapore (April 2020)
COPRO HOLDINGS100%
COPROENGINEERD. Co.,Ltd.

COPRO GLOBALS
PTE. LTD.
Subsidiary in Singapore

Supervises ASEAN
region operations
Country A Country B Country C Country D
subsidiary subsidiary subsidiary subsidiary
As the base for ASEAN operations, COPRO-GLOBALS gathers information to determine
where to start operations, how to conduct operations, priorities and other matters.

Major countries where operations may begin●Vietnam ●Philippines ●Thailand●Malaysia ●Indonesia ●India and others

Overseas Project (2)Use foreign engineers in Japan●Bring engineers from other countries towork in Japan (starting in FY3/21)●Establish a Japanese language education
program

2020

27

Growth Strategies (2) Higher Retention Rate 1/2
Increase measures to attract and retain engineers
Established a department for
retention (April 2019~)

COPRO Mileage Club

Deals with problems and needs of
temporary staffing workforce engineers●Started our own bonus point system●Employees can exchange points for merchandise(April 2020~)●Consultations for career advancement(Assistance for training to acquire certifications and other support)●Health management(Health and safety management, limits on extended working hours,
and other support)●A sound mindset and attitude(Reinforce motivation, a greater sense of belonging to a team, andother support)

2020

28

Growth Strategies (2) Higher Retention Rate 2/2
Upgrade of the Gen-Kyari recruiting website, including AI for a higher matching success ratio
Website upgrade schedule
June 2020

AugustDesignNovemberDevelopment (Started AI in Sept.)

January 2021

Verification (Tests)

February~
Full-scale operation

Reception⇒ Upgrade improves the ability to attract people and the ratio of people who submit applications (website performance)
Qualitative and quantitative improvements by redesigning the organization and business processes and using new tools for
Project database ⇒more efficient sales activities
AI matching⇒ Calculates matching ratio by examining a multitude of matching items and then selecting and establishing items
HR database

Strategic IT system investments to achieve the long-term vision (the industry’s leading brand)

Human resources data
(Genkyari: Human
resources database)

Artificial
intelligence(to begin in September)

Project data

Core system(Project
database)

Matching that maximizes satisfaction for engineers and thecompanies where these engineers work
2020

29

Growth Strategies (3) Contribute to a Sustainable Society 1/2
Create jobs for seniors (support for lifetime employment)

Senior Employment
Stabilization Act

Age of the Temporary Placement
Engineer Workforce

The aim of this law is toenable seniors to continue
working for as long as theywant regardless of their age.

(March 31, 2020)

40 to 59

60s

34%
17%

16%
60 to 79

Teens to 39

Recruitment andplacements of manyolder workers

49%

2020

70s

１％

30

Growth Strategies (3) Contribute to a Sustainable Society 2/2
COPRO Group Activities for SDGs (Targets)
TargetQualityeducation

Decent work
& economic
growthDecent work
& economic
growthKPIHigher utilization
rate of training
for people withno experience

Hire people
with noexperience

Increasefemaleemployees

2020/32023/3100.0%

TargetIndustry
innovation &infrastructure

54.6%

Reducedinequalities

564(53.1%)

582(29.3%)

700(52.3%)

1,005(30.0%)

Responsible
consumption& production

KPI

2020/382.0%

Higherretention rate

74.8%

Increase
foreign
employees

44(2.2%)

Reduce the useof paper(go paperless)

2020

2023/3―200(6.0%)-20%(Vs. 2020/3)

31

Infrastructure to Support Growth Strategies
Progress as planned with the new core system
Schedule
April 2020

June

NovemberBasic plan

Development/Testing

January 2021

Data transfer/Training

April 2021~

Trial operation

Full-scale operation

Definitions were finished in 2019 ⇒ Currently creating the basic design ⇒ Full-scale operation is to begin in April 2021 (on schedule)
The new system will perform online procedures with customers involving estimates, invoices and contracts.
⇒ The new system will comply with the “reexamination of business processes at private-sector companies that require paper andseals,” which is included in the Japanese government’s Policy for the Establishment of a New IT Strategy (April 22).
Estimates, contracts, working time records, invoices and other business procedures
COPRO
Clientcompanies

New coresystemEstimates

Invoices
Contracts

Working time

The new system is expected to improve profitability
The new core system will hold down the increase in administrative and other expenses
associated with the growth in the number of client companies (and therefore the number ofengineers on assignments).
2020

32

Goal for Growth during the Next Decade(Billion yen)100

Net sales

100bn yenOverseas

Step up activities for
growth outside JapanNew fields

M&A and other activities
to enter new fields

Operating profit

10bn yen

Plant industry

Constructionindustry

Build a brand that
customers andengineers both choose
over other brands

Plant industry
Construction industry

Present

Goal(2020/3)(2030/3)2020

33

4. Corporate Profile

2020

34

Corporate Profile
Name

COPRO-HOLDINGS Co., Ltd.

Kosuke Kiyokawa
President and representative director

Representative Kosuke Kiyokawa

Head office

3-28-12 Meieki Nakamura-ku, Cityof Nagoya, Aichi prefecture

Established

October 2006

Fiscal year end March
Activities

Temporary staffing and permanent
placement services, mainly in theconstruction industry

Consolidated
subsidiaries

COPRO-ENGINEERD. Co., Ltd.
COPRO GLOBALS PTE. LTD.

Number of
Employees

2,242 (Consolidated, as of end of March 2020)

Mr. Kiyokawa was born in 1977 in Aichi prefecture. After
graduation from Nagoya Industrial Technology School, he
worked at a local construction company for two years as ajobsite supervisor. Next was five years in the sales
operations of a large outsourcing company andappointment as president of one of this company’s
subsidiaries, Nikko CSS (now TechnoPro Construction).
Mr. Kiyokawa established COPRO in 2006.

2020

35

Business Operations (1)Temporary staffing for engineers mainly in theconstruction industry
Provider of temporary staffing services

Engineers

Client companies

2020

36

Business Operations (2)Positioned between supervisors and tradespeople
for overseeing construction●Jobsite supervision●By full-time employees ofgeneral contractors●By the engineers
provided by the
COPRO Group●Jobsite works●Workers of
subcontractors

Supervisors(Construction company
personnel)

Construction
managers
Engineers provided by
the COPRO Group

Primary tasks
Construction project
management
1) Process management
2) Safety management
3) Quality management
4) Cost management

Workers(Scaffolders, plasterers, others)

2020

37

Branch Network
Osaka Plant BranchWesternJapan
Osaka #1 Branch
Osaka #2 Branch
Seed of Supervisor

Sapporo Branch

20 Branches
Nation Wide

Sapporo Br.

East Japan
Sendai Branch

Kanazawa Br.
Nagoya Head Office社
Nagoya #1 Br.
Nagota Plant Br.

Sendai Br.
Omiya Br.

Osaka #1 Br.
Chiba Br.

Osaka #2 Br.
Osaka Plant Br.

Omiya Branch

Hiroshima Br.

Imon Kobe Bldg.

Shizuoka Br.

Kitakyushu Plant Br.

Hiroshima Branch

SE Sapporo Building

Tokyo Head Office
Tokyo #1 Br.
Tokyo #2 Br.
Tokyo Plant Br.

Sendai Mark One

Nagoya #2 Br.
Fukuoka Br.
Takamatsu Br.

Yokohama Br.

Grand Front Osaka

Takamatsu BranchCentralJapan

Nagoya #1 Branch
Nagoya Plant Br.
Nagoya Head Office Seed of Supervisor

Sonic City Building

Tokyo Head Office
Tokyo #1 BranchTokyo #2 BranchTokyo Plant Branch
Seed of Supervisor

Yokohama Branch

Kanazawa Br.

Mitsui Kife Bldg.

Fukuoka Branch

Kyobashi Edogrand Bldg.
TAKAMATSU Symboltower

Kitakyushu Plant Br.
Fukuoka Asahi Bldg.

Oita Bank Meijiyasuda Bldg.

Porte Kanazawa

Dai Nagoya Bldg.

JR Gate Tower

Shizuoka Branch

Nagoya #2 Br.

Nippon Life Shizuoka-ekimae Bldg.

Chusin Tower

Chiba Branch
Seed of Supervisor
Landmark Tower

2020

Sencity Building

38

Recent Sales and Operating Profit
Sales and earnings have been increasing steadily.
Net sales (LHS)(Million yen)
14,00013,122

12,000(Million yen)
2,000

10,81910,0008,000

Operating profit (RHS)

1,592

8,962
7,701

1,500

1,344
1,000

6,000
909

894

4,000

500

2,000
0

0
2017/3

2018/3

2019/32020/32020

39

Sales by Industry

Plant 14.4%

Construction 85.6%
Net sales: 11.23bn yen

Net sales: 1.88bn yen<Up 74% yoy><Up 15% yoy>

Others2.8%
Construction
31.9%

CAD
8.6%

Civil
engineering
17.4%

Facilities
24.9%
As of 2020/3
2020

40

The Three Strengths that Define COPRO

Engineers always come first
Operations from the standpoint of the approx. 2,000 temporary staffing engineers

１

２

３

A nationwide networkfor engineer workforce

A well-structured
training program for

MOBILITYMEETING
NEEDS

Mobility andtechnological skills forclient industry

EXPANSION

A consistent source of value for customers and society
2020

41

Strength (1)A nationwide network for engineer workforce MOBILITY

Matching
Able to offer jobs
covering a diverse
range of interestsand preferences

MOBILITY

Information about abroad spectrum oflabor needs
nationwide

Matching
Quick andaccurate supplyof people with therequired skills
2020

Client companies
throughout Japan(= many people can go to a
project anywhere in Japan)

An office network
covering all regionsof JapanNationwide engineer
workforce (about 2,000)

A highly mobile
workforce42

Strength (2)TECHNICAL SKILLS created by education utilizes our distinctive
know-how

Focus on the construction industry with skills covering many construction categories
Construction management and design
support for highways, shoreline
protection, site preparation, tunnels,
bridges and other projects

Buildings

Civil
engineering

Construction management and design
support for new construction andrenovations for high-rise buildings,
condominiums, shopping centers,
factories and other projects

CAD operators for building, civilengineering, facility and factory projects

Facilities

Construction management and design
support for facilities (HVAC, plumbing,electrical) for new construction andrenovations for high-rise buildings,
condominiums, shopping centers,
factories and other projects

CAD

OthersAdministrative procedures forbuilding, civil engineering, facility
and factory projects

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Strength (3)Mobility and technological skills for client industry

EXPANSION

Using experience and accomplishments in the construction industry to expand
operations to the industrial plant industry

Construction

Industrial plants(Core business domain)(A new business domain)

Buildings

Civil
engineering

CAD

Facilities

OthersConstruction management anddesign support for new
construction and renovations forindustrial plants in many fields

Steel

Chemicals

Textiles2020

Continue
addingindustries tothe client
base…

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Disclaimer and Precautions about Forward-looking Statements

 This presentation was prepared by COPRO-HOLDINGS for the purpose of giving investors anunderstanding of the company’s current operations and goals.
 The information in this presentation is based on economic, social and other conditions that weregeneral knowledge and on assumptions that COPRO-HOLDINGS believed were reasonable asof the announcement date. This information may be revised without prior notice because of achange in the business climate or some other event.
 The information in this presentation includes forward-looking statements. These statements are
based on current outlooks and forecasts as well as assumptions that incorporate risk.
Uncertainties involving the basis for these statements may cause actual performance to differ
from these statements.
 Risk factors and uncertainties include, but are not limited to, changes in industry and market
conditions and changes in the Japanese and global economies, such as interest rate andforeign exchange rate movements.
 COPRO-HOLDINGS has no obligation to update or revise the forward-looking statements in thispresentation even if there is new information or an event related to these statements.

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