May 11, 2023
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 Regarding Differences between Forecasts and Actual Results for theFirst Half of the Fiscal Year, and Revisions to Full-Year Results Forecast
MTI Ltd. (hereinafter the “Company”) announces that the Company will revise the forecasts for the first halfof the fiscal year ending September 30, 2023, the revise the earnings forecast for the fiscal year ending September30, 2023 announced on November 9, 2022. Detail are as follows.
1. Revision of the consolidated results forecast(1) Differences between forecasts and actual results for the first half of the fiscal year ending
September 30, 2023
(October 1, 2022 – March 31, 2023）

Previous announced
forecast (A)Current announced
forecast (B)Differences（B-A）
Differences（%）（Reference）
Actual results in the previous
fiscal year
(For the first half of thefiscal year ended September30, 2022)

ProfitNet
attributable toincome
owners of parent per share

Net sales

OperatingincomeOrdinaryincome

Millions of yen

Millions of yen

Millions of yen

Millions of yen(740)(13.5)*

13,613(18)

187(326)(5.95)+913(218)+187+413

+7.2

−−−

12,975

599

292

123

12,700

2000Yen

2.25*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 Half of the Fiscal Year Ending September 30, 2023 (released on May 11, 2023) in which figures
recalculated on the basis of the number of outstanding shares (excluding treasury shares) as of March 31, 2023 are stated.

[Reasons for the differences]
Net sales exceeded the initial forecast mainly due to the video sales of consolidated subsidiary Video MarketCorporation.
Operating income was lower than the initial forecast primarily reflecting an increase in the cost of sales asa result of the ongoing response to low-margin projects in the DX support business for major corporate
customers and sluggish orders in the AI business of subsidiary Automagi Inc.
Ordinary income was higher than the initial forecast as a result of an equity-method investment profit
posted due to the improved results of equity-method associated companies in contrast to the initiallyexpected equity-method investment loss.

1Loss attributable to owners of parent improved from the initial forecast. This is mainly attributable to gain
on change in equity due to extraordinary income caused by the Company’s investment ratio declining due
to an equity-method affiliate implementing a private placement in addition to higher-than-expected ordinary
income.
(2) Revision of the consolidated financial forecast for the full fiscal year ending September 30, 2023
(October 1, 2022 – September 30, 2023)
ProfitNet
Operating
Ordinary
Net sales
attributable toincome
incomeincomeowners of parent per share
Yen
Millions of yen
Millions of yen
Millions of yen
Millions of yen
Previous announced
26,000800
800(600)
forecast (A)(10.94)*Current announced
forecast (B)26,800200400(400)

Differences（B-A）+800(600)

0+200

Differences（%）(Reference)
For the fiscal year ended
September 30, 2022

+3.1(75.0)

0.0−

26,479870

485(930)(7.29)(16.99)*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 Half of the Fiscal Year Ending September 30, 2023 (released on May 11, 2023) in which figures
recalculated on the basis of the number of outstanding shares (excluding treasury shares) as of March 31, 2023 are stated.

[Reasons for the revisions]Regarding the consolidated business results forecasts for the fiscal year ending September 30, 2023, net
sales were revised upward, operating income was revised downward, ordinary income was not changed andprofit was revised upward in consideration of the differences between the results and forecasts for the firstsix months, the ongoing response to low-margin projects in the DX support business for major corporate
customers and the sluggish orders for AI business.
＜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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