3rd Quarter FY2020
Financial Results
2020.2
November 9, 2020
株式会社ビジョン
Vision Inc.
証券コード：9416(1st Section of the Tokyo Stock Exchange, code： 9416)

3Q FY2020 Financial Results (Consolidated)(JPYmn, %)Item

FY2019/3Q
ResultAmountChangeComposition
ratio

FY2020/3Q
ResultAmountComposition
ratio

Sales

20,547100.0-7,43913,108100.0

Gross profit

11,97058.3-5,146

6,824

52.1

EBITDA

3,746

18.2

-4,594-847-6.5

Operating profit

2,970

14.5

-2,912580.4

Recurring profit

3,011

14.7-2,844

167

1.3

Profit or loss (-) attributableto owners of parent

1,986

9.7-3,213-1,226-9.4

Performance Change “GLOBAL WiFi” Business
Sales were mostly for domestic Wi-Fi rentals during the 3Q consolidated fiscal period (Julyto September).
The highest sales ever in the Wi-Fi rental business in Japan.
Actively acquire the needs for teleworking and online classes. Making the most of the performance and know-how of thedomestic Wi-Fi router rental business since 2010, acquire various usage needs (substitution when moving, hospitalization,business trip, combined use with home internet, various events, etc.).
Acquire orders with our high-quality and rich lineup, product inventory, and communication plans that meet customers’ needs.
The urgent business travels by corporations (corporations and government agencies, etc.) have recovered slightly.

SALES
1Q
3Q

2Q
4Q

(JPYmn)SEGMENT PROFIT OR LOSS (-)

17,732

1Q
3Q+31.3%

13,505

4,462

2Q
4Q

3,301
+36.8% 430

2,413+30.0%

3,589
10,392+31.8%+30.6%7,882 2,636

6,035
1,602
1,826
1,308
1,297

2,073
2,329
1,697
1,781

2,505

1,593

5,084 -55.5%+39.7%(3Q cumulative YoY)

3,929

3,022
2,226

+51.5% 495

4,109
2,898
3,089

4,075

5,906
1,272
1,286
3,347

FY2015 FY2016 FY2017 FY2018 FY2019 FY2020

1,140+92.2% 245593
114
25660
162494146252224
631
271
466769
448
701

1,274
724
871

-48
326-347-27

FY2015 FY2016 FY2017 FY2018 FY2019 FY2020

Performance Change
Information and Communications Service Business
Sales of cost reduction products and mobile communication equipment (for teleworking,etc.) were strong.
Develop sales activities that accurately capture the growing companies’ needs to reduce costs (communication charges,electricity charges, etc.) and support teleworking due to the spread of COVID-19.
The acquisition of monthly website production service “Vision Crafts!” is strong.
Efforts to increase stock earnings (recurring revenues), which will be the earnings base for the next fiscal year and beyond.
Develop SaaS model services that reduce initial installation costs.
(JPYmn)

1Q
3Q

2Q
4Q

1Q
3Q

SALES
8,955

+15.2%+2.2%+9.4%7,775+7.9% 6,948

7,104

1,730

1,725

6,440
1,673
1,601
1,629

1,5361,749

1,764
1,703

1,786
1,782
1,810

2,115

1,970
2,330

1,977
2,009
1,818

2,207-2.5%

6,666903

2,146214221269

2,3022,515

FY2015 FY2016 FY2017 FY2018 FY2019 FY2020+0.9%+11.9%1,363 (3Q cumulative YoY)
+3.9%
1,184
188
1,172 1,218+14.4%+13.4%1,024(3Q cumulative YoY)

2,004

SEGMENT PROFIT

2Q
4Q

198

285219244
296
264287316
282

212

342

367

350

299

482517371337296

FY2015 FY2016 FY2017 FY2018 FY2019 FY2020

Financial Forecast Revision(JPYmn, %)FY2020 Forecast
after revision

FY2020 Forecast
before revision

ChangeRatio ofchange

16,70016,700－－27,318

Cost of sales

7,811

7,816-4-0.1

11,627Gross profit

8,888

8,883+4+0.1

15,690

53.2

53.2

+0.0

－

57.4

8,830

9,203-373-4.1

12,365

52.9

55.1

-2.2

－

45.3

Items

Sales

Gross profit margin
SG&A expenses
SG&A-to-sales ratio

FY2019ResultOperating profit or loss (-)

58-320 +378

－

3,325

Operating profit margin

0.3-1.9+2.3－

12.2

Recurring profit

167-213 +381－

3,358-1,226-1,601 +375

－2,226

Profit or loss (-) attributable toowners of parent

Policy on Growth Strategy (for Entire Group)“GLOBAL WiFi” BusinessCurrentsituation

The monthly loss has improved to approx. -JPY10mn.

Information and Communications Service Business
Products and services related to reduce costs and improve operational efficiency are strong
due to the growing companies’ needs under the spread of COVID-19.

Turn “GLOBAL WiFi” Business into a profitable on a monthly basis.
Actively sell domestic Wi-Fi.
Build a low-cost operation system when overseas travel demand gradually recovers.
Correspond to next-generation communication standards and technologies (5G and eSIM, etc.).

Accelerate the growth of Information and Communications Service Business.

PolicyDevelop businesses and services that leverage our strength of capturing newly established companies.
Strengthen sales of SaaS model products, which will be the earnings base for the next fiscal year andbeyond.

Actively engage in new businesses, new products and services.

Make the most of corporate culture, organizational structure, business partners, and customer assets.
Provide products and services that meet the high needs of existing customers in “GLOBAL WiFi” Businessand Information and Communications Service Business through cross selling.

Return to profitability by deep diving into existing businesses and growing.
Build a business and organizational structure that earns more profits and profit
margins than previous years by new business (service) profits and building lowcost operation systems.

Strengthen Domestic Wi-Fi Sales
Acquire usage needs by leveraging the price, rich lineup, product inventory, various
communication plans that meet customers’ needs, remote support, marketing, brand(GLOBAL WiFi), and customer base.
Strengthen sales expansion of a mobile Wi-Fi for teleworking.
Strengthen sales expansion of a mobile Wi-Fi for educational
institutions and local governments.
*Osaka introduced 3,300 units, and we are also currently in negotiation with
the Board of Education etc. in other regions.

“GLOBAL WiFi for Biz” for corporate customers
Actively expand sales of domestic plan options.

Recommend forteleworking!
Can be used immediately
without any construction work!

Start teleworking immediately
without an internet environment!

Available in Japan / For online classes

Wi-Fi rental for teleworkingOver100units
available

ZeroofficefeeCorporateplanavailable

For school and educators

Wi-Fi rental for online classes
・ Provides quotes the sameday, and delivers the next day
at the earlies
・Laptop, tablet available
・Easy to set up
Introduction record: Used by many schools for online class.
Tokyo University, Waseda University, Seijo University, Hokkaido Universityof Education, Aichi Shukutoku University, Shizuoka Sangyo University,Shizuoka Prefectural University, Osaka University of Economics, Hyogo
Prefectural University, Okayama Prefectural University, Nagoya Medicaland Health Sports College, Tokyo Design Technology Center

Efforts to Popularize Online Learning“GIGA School Concept”
To realize an educational ICT environment that is individually optimized for each child andfosters creativity- One device for each person as a standard in the Reiwa era Contribute to promote online learning in the “GIGA School Concept” by expanding the options which local
governments can choose data communication costs, Wi-Fi routers and data communication contracts this yearand beyond.
Our 4 strengths
Local governments purchase “cloud-type Wi-Fi routers” and distribute them to homesthat require a communication environment.
Each home makes a data communication contract and can use a data communication
service.

Online classutilizing our unique cloud technology

Lowinstallation
cost

Low cost
duringnon-useperiodRemotely
resolvecommunication
problems

No need toreplace SIMSchool Concept
Dedicated dial for
local governments
and educationalorganizations

New Service “tsuyaku-fukikae.com”
Launch the service of online/offline business negotiations and conference interpretation,
video translation/dubbing.
Business negotiations, conferences, and IR meetings (Japanese ⇄ foreign language) with overseas companies and investors at web
meetings such as ZOOM and conference calls.
Create an English dubbed video for overseas investors (Japanese ⇄ foreign language).
Create dubbed videos in foreign languages such as English and Chinese (foreign language ⇄ Japanese).
Dubbed videos in any foreign language into Japanese such as AI, 5G, autonomous driving,
IoT, finance (for in-house training videos, etc.).
Meetings and social gatherings with employees of global affiliated companies, etc.
“Beyond the language barrier, make your business more global.”
Provide interpretation, translation, and dubbing services that can be used in various
business situations at reasonable prices.

Beyond the language barrier
Make your business more global.

Changes in Monthly Cost and Segment Profit“GLOBAL WiFi” Business
Recover to profitability due to domestic Wi-Fi rental revenue.
Reduce costs by pay-as-you-go purchase contract with no communication costs unless communication occurs.
Depreciation costs decreased significantly due to the impairment loss of fixed assets in the business (approx. JPY1.2bn),
recorded in FY2020/2Q.
Cost structure that changes depending on the number of rentals: communication costs, shipping delivery costs, credit card
payment fees, etc.

1,093

1,156(JPYmn)

COST

SEGMENT PROFIT OR LOSS (-)
225

777

178542 584 545

418 428 455-19Jan.

Feb.

Mar.

Apr.

May

Jun.

Jul.

Aug.

Sep.

SG&A expenses

591

572

439

328

340

314

273

279

276

Cost of sales

292

313

209

203

226

223

143

146

168

210

271

129

10

17

7

2

3

11Overseas
telecom cost

(JPYmn)(Note) The figures are different from those of the segment results because they are monthly changes in profit
and loss which do not include closing.

-90-0-17-107 -88
-182

Jan.

Feb.

Mar.

Apr.

MayJun.

Jul.

Aug.

Sep.

Gross Profit Composition
Information and Communications Service Business
Sales of mobile communication equipment are strong (increase number of companies introducingteleworking).
Orders for “Vision Crafts!”, a monthly website production service that can reduce initial installation costs,
are steadily growing.
Decrease orders for OA equipment sales under lease contracts, partly due to the decline in domestic
leasing transaction volume. * Refer to the materials released by Japan Leasing Association.
3Q FY2020 Cumulative
3Q FY2019 Cumulative
0.6%

0.0%
2.2%

10.8%

2.3%
23.4%

9.0%

11.6%

10.5%

JPY
3,461mn15.2%

JPY
3,545mn

20.3%

13.7%

30.2%
10.7%

Fixed-line communications
Broadband
Internet media
Construction related

Mobile communications
Office automation equipment
Eco solution
Other

27.8%

Fixed-line communications
Broadband
Internet media
Construction related

11.6%

Mobile communications
Office automation equipment
Eco solution
OtherProvide a New Service that Meets Customers’ Needs
Sales of monthly website production service “Vision Crafts!” are strong.
Utilizing over 100 website production experiences per month, we provide production service of website thatcustomers can easily create and “visually convey!” at a low price(from JPY3,980/month).

Simple!
Website update

Abundant
design materials

Reliable staff
before opening

How to use!
Support desk

All from 3,980
yen/monthTo Contribute to the Global Information andCommunications Revolution