3649

Financial Results Briefing
FINDEX Inc.

Fiscal Year Ending December 2021 Financial Results
March,2022

🄫2022 FINDEX Inc.

FY2021 Financial Results

🄫2022 FINDEX Inc.

FY2022 Financial Results (Summary/Consolidated)
Usually, many projects are scheduled in December, January (New Year‘s holidays),and March (end of the fiscal year) for large medical institutions.
Although our sales tend to be concentrated in the 1Q and 4Q, this fiscal year was anexception, with high sales recorded in the 2Q due to customers' convenience.
（Millions of yen）

FY2021 Actual（consolidated)

1Q

2Q

1,462943

Operating income

451

Ordinary income
Profit attributable toshareholders of parent

Net sales

Earning per share

🄫2022 FINDEX Inc.

1st Half

2nd Half

Full Year

1,455

2,563

4,968

215

217

432

920

505

216

223

439

944

340

145

151

296

636

3Q

4Q

2,405

1,108

37488

452

53

314

26

¥13.30-¥24.84
2

FY2020 YoY Comparison (Consolidated)
Net sales：124.0% YoY due to steady growth in all business segments.

Operating and ordinary income：Both achieved over 144% YoY, although they werebelow budget due to delays in the GAP sales plan and the introduction of a system with alot of procurements.
（Millions of yen）

FY2020
ActualFY2021
ActualYoY ratio

Budget ratio (%)

4,004

4,968

124.0 ％

108.0％

Operating income

636

920

144.7 ％

91.2％

Ordinary income

643

944

146.8 ％

93.5％

Profit attributable toshareholders of parent

430

636

147.8 ％

90.9％

¥16.81¥24.84

Net sales

Earning per share
🄫2022 FINDEX Inc.

－－3

FY2021 Comparison of the Past 3 Years (Consolidated)(Net Sales/Millions of yen)

(Operating Income/ Millions of yen)

6,000

1,5004,968

5,000

4,281
4,004

944

4,000

1,000
3,603

920

746
643

3,000

743

593

636
2,000

636

592

500

499
430
398
1,000002018

2019
Net売上高Sales

🄫2022 FINDEX Inc.

2020
Ordinary
経常利益
incomeOperating
営業利益
income2021

ProfitAttributable top
当期純利益
Shareholders of Parent

4

Segment Results (Consolidated)（Millions of yen）

Reportable Segment
Adjustments*1

SystemDevelopment

Total*2

Health-tech

4,919

49－

4,968

2－-2－

Total sales

4,922

49-2

4,968

Segment profit or loss

1,137-217－920

Sales to external customers
Intersegment sales andtransfers*1. Adjustment amount is due to elimination of intersegment sales.
*2. Segment profit or loss is matched with operating income in the consolidated statement of income.

MainExpenses:

Cost・・・Personnel:35/Depreciation:55/Outsourcing:18
SGA・・・Personnel:37/Depreciation:11/R&D:14
ファインデックス
FindexHealth Tech - Loss （Millions of yen）

-189

0🄫2022 FINDEX Inc.

-50-100

EMC Healthcare

-64

-150

-200-250-300

5Profit Structure (Consolidated)(Millions of yen)

Mainly spent on:
Labor : 838
Procurement : 740
Outsourcing : 541

Net sales
🄫2022 FINDEX Inc.

CGSSGA

Operating income
6SGA Trends (Consolidated)（Millions of yen)
2,000

1,635
1,587
1,483

1,500285

3192651171031102427109
149
1,000500

9224
4351
23

1,072942950

2019

2020

R&D:
Proportion :1.6%
YoY :62.7%

Personnel & Hiring
Proportion :65.5%
YoY :112.8%

0

人件費＋採用教育費
Personnel &Hiring
🄫2022 FINDEX Inc.

研究開発費 Advertising
広宣販促費
&R&D

promotion

2021
旅費交通費

Travel

地代家賃

Lease

その他

Others7

Our Market ShareAn Overwhelming Market Share of72.7％

in National University Hospitals

Market share in large hospitals
with more than 500 beds
Other hospitals and clinics

46.8%
Over 1,600
facilities*From this year one-time products are excluded from aggregation.
(As of December 2021)
🄫2022 FINDEX Inc.

8

FY2021 Changes in the Number of Health System Users(# of Facilities)

Classification

FY2020 FY2021

Changes*

Large hospitals (>500 beds)

187

188

1

Medium sized hospitals (100 to 499 beds)

369

388

19

Small hospitals (20 to 99 beds)

78

81

3

1,081

1,114

33

Other medial-related facilities

1617

1

Non-medical facilities

6104

Community-based comprehensive care

2025

5

1,757

1,82366

Clinics (<19 beds)

Total*From this year one-time products are excluded from aggregation.
*The number of increase is the pure increase of new users (including reclassification), in addition to “system renewal”.
🄫2022 FINDEX Inc.

9

FY2022 Outlook

🄫2022 FINDEX Inc.

FY2022 Forecast (Consolidated)• Establish a high-margin, stable source of revenue by expanding the sales of packaged softwareand cloud-based services, despite the declining demands from medical institutions caused bycovid-19.
• Start selling GAP overseas; with a sales target of 400 units (domestic & int’l).
• Costs associated with the relocation of HQ in 2Q are approx. 56 million JPY.
（Millions of yen）

2021 Actual2022 Forecast

AmountNet sales

Operating income
Ordinary income
Profit attributable to owners of parent

Earning per share (yen)AmountYoY ratio

4,968
920
944

4,937
1,085
1,091

- 0.6 ％
+17.8 ％
+15.5 ％

636

716

+12.6 ％

24.84

27.96

－

2.50
6.00
8.50

3.00
6.50
9.50

－－－Dividend per share (forecast)Interim dividend (yen)Year-end dividend (yen)Full year dividend (yen)🄫2022 FINDEX Inc.

11

Trends in Net Sales, Ordinary Income and Net Income（Millions of yen）
6,000

+18.8％

5,000

FY2022 Forecast

4,968

4,937

-6.5％

4,281

4,004

+8.8％
4,000

+24.0％

3,603

3,000

2,000

746

593

1,000

1,091
716

499

398

0

2018
2018年

2019
2019年
Net Sales

🄫2022 FINDEX Inc.

944

643

636

430
2021
2021年

2020
2020年
売上高

経常利益

Ordinary income2022(Forecast)
2022年予想

当期純利益

Net income

12

FY2022 Forecast by Products (Consolidated)

2021■ Claio
SeriesClaioシリーズ

2022 Forecast■ DocuMaker Series
DocuMakerシリーズ■ REMORAREMORANet sales
4,968 Mil JPY
Direct 80.6%
Distributor 19.4%

Operating income
920 Mil JPY■ Radiology
放射線■ DocuMaker Office
DocuMaker OfficeNet sales

4,937 Mil JPY

■ GAP
GAP

■ Hardware
ハードウェア■ Maintenance
メンテナンスOperatingincome

1,085 Mil JPY■ License

ライセンス■Others

その他■Subsidiaries
連結子会社

🄫2022 FINDEX Inc.

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Medical System Segment
Market Trends

Growth slowing down due to widespread of covid-19
Cross-selling

Cross-sell to existing customers and strengthen sales ofpackaged software to new customers••

Increase the number of products used by existing customers, thereby
enhancing opportunities for comprehensive service offerings including
maintenance.
Prioritize sales of existing packaged products with low installation costs tofurther improve profit margins.

Strengthen distributor sales and improve
efficiency of direct sales•

Medical Records

Installed

C-NoteImage Management

Installed

Claio

FINDEX

Distributor

Review the areas of responsibilities and services with thedistributors to establish an efficient sales network.

Prepare to build a new infrastructure for medicalservices•

Connect people, goods and services through cloud computing torealize a more convenient and efficient medical system and tocreate a regional healthcare community.

🄫2022 FINDEX Inc.

14

Office System Segment
Market Trends

Local governments focusing on digitalization to drive improvement

Actively apply for bids••Participate in bids from local governments and public organizations,addressing their needs based on the policies by Ministry of Internal Affairsand Communications.
Directly manage large projects and outsource small to mid-sized projects todistributors.

Expand sales to administrative departments within hospitals
by leveraging our existing sales channels in medical market•Aim to rapidly spread the adoption of our software, based on our huge
success in delivering software to the majority of national university hospitals.

Reorganize and enhance internal resources to handle large
projects•Multiple negotiations in progress with some orders scheduled for
introduction after 2023.

🄫2022 FINDEX Inc.

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Health Tech Segment– Gaze Analyzing Perimeter
Market Trends

The ophthalmology field is less susceptible to disease outbreaks andcan expect stable sales

DomesticOverseas

Expand sales via distributors

European MDR (Medical DeviceRegulation) pending

Total Sales ＝12 units (GAP-Screener/GAP)•1/3 of domestic ophthalmologists are our customers.
⇒ Sales to existing customers a priority, multiple
demos underway.
•
Sales target for FY2022：100 units••

Creating a market for medical checkup facilities
through a pay-as-you-go system•

Realize multiple business meetings (GAP-Screener).
•
With the new partner, we adopt a pay-as-you-go system andestablish a sales network specializing in medical checkups.
•Sales target for FY2022：100 units•

Further researches underway with Kyoto Univ.
•••

Selected for AMED (Japan Agency for Medical Research andDevelopment) project, obtained a total budget of 260 million JPY
over 5 years.
Useful for detecting MCI (early-stage dementia) in addition to visual
field abnormalities.
Possibility of diversion to testing for other psychiatric and brain
disorders.

🄫2022 FINDEX Inc.

MDR approval timing: expected in the spring of2022.
Contracted with exclusive distributors in Japan,and secured export routes and local sales
network.
Export routes and local sales networks arealready secured.
⇒ Number of local dealers:
EU: 33, Middle East & Africa: 23
Sales target for FY2022：200 units

Formulating sales strategies forother regions•••

Collaborating with partners to build sales
networks in each region.
Sales in India and ASEAN region⇒ utilize credibility from Japan and EU.
Sales in North and South America⇒ developing process for FDA approval.
16

FY2022 Outline - Our Targets and Goals
Improve Profitability of Medical Software
Health Tech Contributes to Our Sales and Profits
Growth slowing down due to widespread of covid-19

MedicalSystem⇨ Cross-sell to existing customers and strengthen sales of packaged software to newcustomers⇨ Strengthen distributor sales and improve efficiency of direct sales⇨ Prepare to build a new network/infrastructure for medical services

Local governments focusing on digitalization to drive improvement

OfficeSystem

Health TechGAP
🄫2022 FINDEX Inc.

⇨ Actively apply for bids
⇨ Expand sales to administrative departments within hospitals by leveraging our existingsales channels in medical market⇨ Reorganize and enhance internal resources to handle large projects

The ophthalmology field is less susceptible to disease outbreaks andcan expect stable sales⇨ Strengthen GAP business by developing multiple sales networks with partners⇨ Accelerate sales and implementations to health checkup centers⇨ Start sales in overseas (EU, Middle East and Africa)
17

News Release

🄫2022 FINDEX Inc.

News Release
⚫

⚫

⚫

⚫

New product launch 1: Software for telemedicine “On-Shin”•

Realization of telemedicine for large medical institutions that have been difficult to construct in the past.

•Cloud-based telemedicine for more than 100 people simultaneously at a single facility.

New product launch 2 : Cross-search & big data construction system ”Universal Searcher”•

Consolidates data from more than 30 systems, including EMR, accounting, logistics management, and HR management.

•Enables cross-sectional extractive search, improving the quality of medical care and the efficiency of hospitalmanagement.

New product launch 3: Task managing application ”Dodo”•An easy-to-use product without excessive functions. Dodo focuses on managing daily routine tasks and enhancing
communication between parents and kids.

•Targeting mainly working parents.

Scheduled to be listed on Prime Market in Tokyo Stock Exchange (TSE)•⚫

Implementation of a regular Work From Home scheme•⚫

Scheduled to move from the First Section of TSE to the Prime Market in April 2022.

WFH scheme, which had been a provisional measure, is now a full-fledged system. We aim to improve work comfort,
enhance recruiting capabilities, and correspond to the SDGs targets.

Relocation of Tokyo HQ•🄫2022 FINDEX Inc.

Relocating to Tokyo Sankei Building (1-7-2 Otemachi, Chiyoda-ku, Tokyo) in April 2022
193649

🄫2022 FINDEX Inc.