Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Nine Months Ended March 31, 2019
(Based on Japanese GAAP)May 14, 2019
Company name:
Trust Tech Inc.
Stock exchange listing: Tokyo
Stock code:
Representative:

2154
URL http://www.trust-tech.jp/
President and Representative Director
Yutaka Nishida

Inquiries:Director, Senior Managing Corporate
Executive OfficerNoriyuki Murai

Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:

May 15, 2019–

Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results meeting:

Yes
Yes

TEL

03-5777-7727(for institutional investors and analysts)(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the nine months ended March 31, 2019 (from July 1, 2018 to March 31, 2019)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changesProfit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Nine months ended March 31, 2019
61,447
29.5
4,474
41.2
4,428
41.8
2,926
73.1
Nine months ended March 31, 2018
47,466
52.3
3,168
46.2
3,123
46.1
1,690
32.3
Note: Comprehensive income Nine months ended March 31, 2019
Nine months ended March 31, 2018

¥2,723 million [38.3 %]¥1,968 million [37.7 %]Earnings per share

Diluted earnings per shareYen
138.14
86.07

Nine months ended March 31, 2019
Nine months ended March 31, 2018

Yen
137.3885.59(2) Consolidated financial position
Total assets
As of March 31, 2019
As of June 30, 2018
Reference: EquityNet assets

Millions of yen
30,12028,127
As of March 31, 2019:
As of June 30, 2018:

Millions of yen
15,075
13,715Equity ratio
%
49.2
48.3

¥14,828 million¥13,581 million

Note: The Company has applied the “Partial Amendments to Accounting Standard for Tax Effect Accounting” (ASBJ Statement No. 28,February 16, 2018) and relevant Guidances effective from the beginning of the first quarter of the fiscal year ending June 30, 2019. Accordingly,
figures in the consolidated financial position as of June 30, 2018 are those after retrospective application of the standard and guidances.

12. Cash dividends
Annual dividends per share
1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
20.00
30.00

Yen––

Yen
35.00

Yen
55.00

40.00

70.00

Year ended June 30, 2018Year ending June 30, 2019Year ending June 30, 2019 (Forecast)

Total

Note: Revision of cash dividend forecast most recently announced: No
3. Forecast of consolidated financial results for the year ending June 30, 2019 (from July 1, 2018 to June 30, 2019)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%Yen
Full year
82,000
25.5
6,000
39.6
5,900
39.5
3,700
44.0
174.70Note: Revision of consolidated financial results forecast most recently announced: No
4. Notes(1) Changes in significant subsidiaries during the nine months ended March 31, 2019(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:No
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

No
No

Restatement of prior period financial statements:

No(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 201921,188,700 shares As of June 30, 2018

21,179,400 shares

Number of treasury shares at the end of the period
As of March 31, 2019717 shares As of June 30, 2018532 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Nine months ended March 31, 201921,183,807 shares Nine months ended March 31, 2018

19,642,629 shares* Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
* Explanation of the appropriate use of earnings forecasts and other special notes
Earnings forecasts and other forward-looking statements stated in this document are based on information available to the Company and certain
assumptions that the Company considers to be reasonable. The actual results may differ materially from the forecasts due to various factors.
Financial results meeting for institutional investors and analysts will be held on Friday, May 17, 2019, as a telephone conference. Materials forthe meeting will be provided on the Company’s website.

2Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of June 30, 2018
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Other
Allowance for doubtful accounts
Total current assets

As of March 31, 2019

9,410
10,045
763
(28)

9,188
11,277998(30)

20,19021,433

Non-current assets
Property, plant and equipment
Intangible assets
Goodwill
Other

595

629

5,658
301

5,776
329

Total intangible assets

5,960

6,106

Investments and other assets

1,380

1,950Total non-current assets

7,936

8,687

28,12730,120

2,145
196
300
4,208
1,017
1,817
966
1,754

2,939
196
300
3,313
763
1,891
1,919
1,979

Total current liabilities

12,405

13,303

Non-current liabilities
Bonds payable
Long-term loans payable
Net defined benefit liability
Other

910
900
47147

714
600
52375

Total non-current liabilities

2,005

1,741

Total liabilities

14,411

15,045

Net assets
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury shares

4,199
3,356
5,830(0)4,2133,318
7,379
(1)

13,385

14,910

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment0195(0)(82)

Total accumulated other comprehensive income

196

(82)

3130

2
244

13,715

15,07528,12730,120Total assets
Liabilities
Current liabilities
Short-term loans payable
Current portion of bonds
Current portion of long-term loans payable
Accrued expenses
Income taxes payable
Accrued consumption taxes
Provision for bonuses
OtherTotal shareholders' equity

Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets

3Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)
Nine months ended

Nine months ended

March 31, 2018

March 31, 2019

Net sales
Cost of sales

47,46637,74661,447
48,591Gross profit

9,720

12,855

Selling, general and administrative expenses

6,552

8,381

Operating profit

3,168

4,474

Interest income
Subsidy income040

041

Other46

Total non-operating income

4447

Interest expenses
Foreign exchange losses

60669
13

Share of loss of entities accounted for using equity method
Other02109

Non-operating income

Non-operating expenses

Total non-operating expenses

89

93

3,123

4,428

Gain on sales of non-current assets
Gain on reversal of share acquisition rights

0000

Gain on sales of investment securities

1–

Total extraordinary income

21

Loss on retirement of non-current assets
Settlement of contract amendment

4170

4–

Total extraordinary losses

174

4Profit before income taxes

2,9514,426

Income taxes - current
Income taxes - deferred

1,233(34)

1,351
61

Total income taxes

1,199

1,413

Profit

1,751

3,013

61

86

1,690

2,926

Ordinary profit
Extraordinary income

Extraordinary losses

Profit attributable to non-controlling interests
Profit attributable to owners of parent

4

Consolidated statements of comprehensive income (cumulative)(Millions of yen)

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Share of other comprehensive income of entities accounted
for using equity method
Total other comprehensive income
Comprehensive income

Nine months ended

Nine months ended

March 31, 2018

March 31, 2019
1,751

3,013

0215(0)
(279)

0(9)

217(289)

1,968

2,723

1,896

2,647

7275

Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

5