Fiscal Year Ending December 2019 Financial Results(Japanese accounting standards, consolidated)
February 13, 2020
Company name

FINDEX Inc.

Securities code3649

URL http://findex.co.jp/en/index.html

Exchange: TSE

Representative(Title)

President & CEO(Name)

Contact(Title)

Director and Head of Administration(Name) Atsushi Fujita

Scheduled date for ordinary
Scheduled date for filing of securities

TEL:+81-89-947-3388

Scheduled date for dividend

March 27, 2020

shareholders’ meeting

Teruo Aibara

March 30, 2020

payment

March 30, 2020

reportSupplementary explanation of financial results?

NoFinancial results briefing?

Yes, for Analysts(Rounded to the nearest million)

１．Consolidated Results for FY 2019 (January 1, 2019 – December 31, 2019)（１）Consolidated results of operations(Percentages represent year-on-year changes)

Sales

Operating income

Profit attributable toOrdinary income

shareholders of parent

mil yen％mil yen％mil yen％mil yen％

FY 2019

4,281

18.8

743

25.3

746

25.7

499

25.4

FY 2018

3,603

8.8

592

8.5

593

8.4

398

8.6

Note: Comprehensive income

FY 2019499

Earnings per sharemil yen(25.4％)FY 2018398

mil yen(9.9％)

Diluted earnings per

Net income overOrdinary income over

Operating income

share

shareholders’equity

total assets

over sales

yen

yen％

％

％

FY 2019

19.50

－18.5

22.7

17.4

FY 2018

15.43

15.30

14.8

18.4

16.5

Ref.: Equity in gains

FY 2019－ mil yen

FY 2018－ mil yen

Note: No statement is made of the amount of diluted net income per share after adjusting residual stocks for the FY2019 period because there
were no residual securities.
（２）Consolidated financial position
Total assets

Net assets

Capital adequacy ratio

Net assets per sharemil yenmil yen％yen

FY 2019

3,464

2,842

82.0

111.03

FY 2018

3,114

2,545

81.7

99.44

Ref.: Owned capital

FY 2019

2,842

mil yen

FY 2018

2,545

mil yen（３）Consolidated cash flows
Cash flow from

Cash flow from

Cash flow from

Ending balance of cash andoperating activities

investing activities

financial activities

cash equivalents

mil yenmil yenmil yenmil yen

FY 2019

1,670

△367

△207

1,778

FY 2018597△539△675682

２．Status of Dividends
Dividends during the year
1st quarter2nd quarter3rd quarter

Term-end

Total

Payout ratio

Dividends over net assets

Total

dividends（Consolidated）（Consolidated）

yenyenyenyenyen

mil yen％％

FY 2018

－

2.00

－

5.50

7.50

193

48.6

7.2

FY 2019

－

2.50

－

5.50

8.00

206

41.0

7.6

FY 2020（forecast）

－

2.50

－

5.50

8.00

56.3

３．Consolidated performance projection for FY 2020 (January 1, 2020 - Deceomber31, 2020)（Percentages represent changes from the corresponding quarter of the previous year）
Sales

Operating income

Ordinary income

Profit attributable toshareholders of parent

Earnings per sharemil yen％mil yen％mil yen％mil yen％yen

2nd quarter(cumulative)

2,316

20.5

701

155.9

703

153.9

469

153.4

17.63

Full year

4,210△1.7580

21.9583

△21.9

378

△24.3

14.21

Note: For the full year forecasts for FY2020, both net sales and profits are expected to decrease year-on-year due to an increase in costs
related to the head office relocation and an expected delay in the introduction of systems by medical institutions from the third quarter
onward. The medical institutions originally planned the introduction to take place during a long holiday period; however, they may delay theschedule since the timing coincides with the Tokyo 2020 Olympic Games.

Notes(1)

Changes in significant subsidiaries during the current quarter(Changes in specified subsidiaries that caused a change in the scope of consolidation): none

(2)

Changes in accounting policies(i) Changes by a newly issued account pronouncement: none(ii) Changes other than (i)-a above: none(iii) Changes in accounting estimates: none(iv) Restatement: none(3)

Number of shares issued(i) Number of shares issued and outstanding at end ofFY2019

26,608,800 shares

FY201826,608,800 shares(ii) Number of treasury shares at end of period

FY20191,006,175 shares

FY20181,011,533 shares(iii) Average number of shares outstanding during the period

FY201925,599,484 shares

FY201825,798,982 sharesperiod (including treasury stock)(cumulative from the beginning of the fiscal year)(Reference) Non-consolidated Financial Results
１. Non-consolidated Results for FY 2020 (January 1, 2020 – December 31, 2020)(1)(Rounded to the nearest million)

Non-consolidated results of operations(Percentages represent year-on-year changes)

Sales

Operating income

Profit attributable toOrdinary income

shareholders of parent

mil yen％mil yen％mil yen％mil yen％

FY 2019

4,241

19.2

793

25.0

660

4.0

454

3.3

FY 2018

3,557

8.3

635

6.7

635

6.5

439

6.9

Earnings per share

Diluted earnings per shareyenyen

FY 201917.75－FY 2018

17.04

16.90

Notes
(1) In the fiscal year ended December 31, 2019, the Company recorded an allowance for doubtful accounts of 136 million yen relating toloans to a consolidated subsidiary, EMC Healthcare Co., Ltd., as a non-operating loss, and a loss on valuation of the company’s sharesof 5 million yen as an extraordinary loss. These were recorded because many of the company's operations are related to the joint
research and development with the Company, and its debts exceeded its assets due to the increased costs for new basic research.
(2) No statement is made of the amount of diluted net income per share after adjusting residual stocks for the FY2019
period because there were no residual securities.

(2) Non-consolidated financial position
Total assets

Net assets

Capital adequacy ratio

Net assets per sharemil yenmil yen％yen

FY 2019

3,501

2,883

82.4

112.64

FY 2018

3,196

2,631

82.3

102.81

Ref.: Owned capital

FY 2019

2,883

mil yen

FY 2018

2,631

mil yen

2．Non-consolidated performance projection for FY 2019 (January 1, 2019 - Deceomber31, 2019)（Percentages represent changes from the corresponding quarter of the previous year）

SalesOrdinary income

Net income

Earnings per sharemil yen％mil yen％mil yen％yen

2nd quarter(cumulative)

2,286

20.2

533

78.4

367

77.3

13.79

Full year

4,100

△3.3

658

△0.4

454

△0.1

17.06

 Quarterly financial results reports are not required to be subjected to quarterly reviews.
 Explanation related to the appropriate use of the results forecasts and other items warranting special mention
Forward-looking statements in this document, including the results forecasts, etc., are based on the information available as of the date of
the release of this document and the preconditions that FINDEX Inc. (the “Company”) deemed to be reasonable; they are not meant to bea commitment by the Company, and variety of factors in the future may cause actual results to differ materially from these forecasts.