Q2 FY2024 (Interim)

Financial Results
Vision Inc.
Stock Code: 9416
August 9, 2024

©2024 Vision Inc. All Rights Reserved.

Q2 FY2024 (Interim) Highlights
Sales
Recordhigh

17,021mn

Incl. support
operations
Excl. support
operations

YoY

2023
2Q
YoY

Record
high

JPY

2023
2Q

Recordhigh

Operating profit

JPY15,620mn
JPY

+9.0%

13,799mn +23.3%

2023
2Q
YoY

YoY

Incl. support
operations
Excl. support
operations

JPY2,428mn
JPY+12.1%

1,883mn +44.5%

GLOBAL WiFi

Information andCommunications Service

Glamping and Tourism

Sales

Sales

Sales

9,186mn

RecordhighJPY

Incl. support
operations
Excl. support
operations

JPY9,012mn
JPY

+1.9%

7,192mn +27.7%

2023
2Q

2,753mn

Excl. support
operations

JPY2,613mn
JPY

Recordhigh

6,132mn

2023
2Q

YoY

+19.4%

YoY

Segment profit
Recordhigh

JPYIncl. support
operations

7,321mn

JPY

JPY

Segment profit
Record
high

2023
2Q

2,720mn

JPY+5.4%

2,068mn +33.1%

2023
2Q
YoY

916mn

655mn

427mn

+18.1%

JPY

Segment profit

JPY
JPY

505mn

JPY

+39.9%

37mn

Record
high

JPY

2023
2Q

JPY

YoY

21mn

+77.1%* In FY2023, we received orders from the Ministry of Health, Labour and Welfare to provide support operations for COVID-19 countermeasures(“airport quarantine support operations”) at the Tokyo Airport Quarantine Office, etc. We also provided PCR testing services (“PCR testing”),
collaborating with a medical institution.
©2024 Vision Inc. All Rights Reserved.

Q2 FY2024 (Interim) Highlights
Consolidated◆ Due to steady growth in each business segment, sales, operating profit, recurring profit, and profit
attributable to owners of parent all reached record highs.

◆ Sales of JPY17,021mn, up 9.0% (up 23.3%), and operating profit of JPY2,720mn, up 12.1% (up 44.5%).
* Ratio of change in ( ) excludes sales and operating profit of support operations (airport quarantine support operations andPCR testing) in the same period of the previous year.

Information andCommunications Service

GLOBAL WiFi◆

Outbound: Corporate demandremained strong. Demand for“Unlimited Data Plan” was high, andthe ARPU remained at a high level.

◆Inbound: Sales of “NINJA WiFi” andSIM cards were favorable.

◆Sales of JPY9,186mn, up 1.9% (up27.7%), and segment profit of
JPY2,753mn, up 5.4% (up 33.1%),
reaching record highs.

◆◆◆* Ratio of change in ( ) excludes sales and operating
profit of support operations (airport quarantine
support operations and PCR testing) in the same
period of the previous year.

Shareholder returns◆ Resolved to pay interim dividend(increase)

Glamping and Tourism

Strengthened sales capability
while actively promoting midcareer recruitment. Sales of officeautomation equipment andelectricity agency (Eco-solutionbusiness) performed well.

◆Both Yamanakako and Koshikano
Onsen improved their occupancyrates.

◆The number of foreign guests
increased.

Expanded sales of in-housedeveloped recurring-revenueservices.

◆Sales of JPY505mn, up 18.1%,
and segment profit of JPY37mn,up 77.1%, reaching record highs.

Sales of JPY7,321mn, up 19.4%,
and segment profit of JPY916mn,up 39.9%, reaching record highs.

End of 2Q JPY13.00
Year-end

JPY14.00 (Forecast)©2024 Vision Inc. All Rights Reserved.

Total JPY27.00 (Forecast)Performance Change
Revised consolidated financial forecast for FY2024 on June 21, 2024.
(JPYmn)Record highfinancial results

40,000

Sales

Operating profit

7,000

36,14535,0006,000

31,807
Changed the market to“Prime” of the Tokyo Stock
Exchange in April 2022

30,00027,318Changed the market
to the 1st Sectionin Dec. 2016

25,00020,00015,000Listed with
“Mothers”
in Dec. 2015

5,707
5,000

25,4874,000

18,1003,325

17,5544,280

COVID-19
pandemic

21,503

16,6543,000

14,8432,484

12,485

2,414
2,000

1,788

10,000

1,290
5,000

1,105

103

0
Sales

1,0008042015

2016

2017

2018

2019

2020

02021

2022

2023

2024
(Forecast)©2024 Vision Inc. All Rights Reserved.

OperatingprofitRevisedconsolidated
forecast announced
on June 21, 2024

FY2024 Consolidated Financial Forecast(JPYmn)FY2024
Original Forecast
Forecast

Ratio

Announced on June 21, 2024

FY2024
Revised Forecast
Forecast

Ratio

Ratio ofchange

ChangeFY2023ResultSales

36,145100.0%

36,145100.0%

00.0%

31,807

Cost of sales

15,56843.1%

15,488

42.9%

(79)

(0.5%)

14,005Gross profit

20,57756.9%

20,656

57.1%

79

0.4%

17,802

SG&A expenses

15,322

42.4%

14,949

41.4%(373)(2.4%)

13,521

Operating profit

5,254

14.5%

5,707

15.8%

453

8.6 %

4,280

Recurring profit

5,256

14.5%

5,738

15.9%

482

9.2%

4,337

Profit attributable to ownersof parent

3,500

9.7%

3,797

10.5%

296

8.5 %

3,025

©2024 Vision Inc. All Rights Reserved.

Factors for Changes in Operating Profit (Forecast)
Operating profit margin 15.8％(Approx. +1.3% points YoY)
(JPYmn)◆Assumptions for FY2024
financial forecasts
Set operating profit including aggressive
investments.

Cost of sales-to-sales+1,483 (1.1)% points+4,338

GLOBAL WiFi Business・ Exchange rate: USD1 = 150JPY
・ Overseas travel recovery rate: 71.2% (FY2024)
・ Raise awareness by strengthening promotions.
・ Worldwide sales of GLOBAL WiFi and World eSIM

+1,428Gross profit+JPY2,854mn[+16.0%]

5,707

4,280

Operating profit+JPY1,427mn[+33.3%]Operatingprofitmargin13.5％
FY2023

Information and Communications ServiceBusiness

Operatingprofit
margin15.8％

・ Strengthen in-house developed recurring-revenue
services.
* Vision Hikari, security cameras, homepages, cloudservices, various business equipment rentals, etc.
・ Mid-career hiring: 50 people (active hiring)◆Outside of the above assumptions
Maximize business synergies through aggressive M&A.

Sales

CostSG&A

FY2024

expenses(Forecast)©2024 Vision Inc. All Rights Reserved.

Expansion of Shareholder Benefit Program Announced on July 19, 2024
The following new system will apply to shareholders listed or recorded in the shareholders’ register asof December 31, 2024.
•The Company presents shareholders with coupons for GLOBAL WiFi, our Wi-Fi router rental service for mobile
Internet communication in Japan and overseas, for accommodation at our glamping facilities and hot spring inn“VISION GLAMPING Resort & Spa,” and for “KO SHI KA” assortment of 3 skincare products.
Holders of 1,000 shares or more will receive two 10,000 yen coupons in addition to the number of coupons
for 300 shares or more.

Recorded Date: Every June 30(Time of sending: Every September)

Recorded Date: Every December 31(Time of sending: Every March)

100 to less than 200 shares

3,000 yen x 2 coupons

3,000 yen x 2 coupons

200 to less than 300 shares

3,000 yen x 3 coupons

3,000 yen x 2 coupons

300 to less than 1,000 shares

3,000 yen x 3 coupons

3,000 yen x 3 coupons[New] 1,000 shares or more

3,000 yen x 3 coupons
10,000 yen x 2 coupons

3,000 yen x 3 coupons
10,000 yen x 2 coupons

Number of shares heldServices available

Up to 29,000 yen worth of coupons can beused per Wi-Fi rental application.

Up to 29,000 yen worth of coupons can beused to apply for accommodations.

When you choose an overseas-use WiFi, “POCKETALK S“ wearable
translation device and “GoPro” action
camera are available free of charge.
* Up to one device per application©2024 Vision Inc. All Rights Reserved.

Two 3,000-yen coupons can be used per set
to apply for assortment of 3 skincare
products.

Topics：GLOBAL WiFi Business
Partner with Fast Doctor, Inc. to provide“Online Health Consultation” that allows
customers to consult about healthconcerns while traveling abroad
The Service, which can be added when applying
for “GLOBAL WiFi®,” allows customers to consult
about any health concerns they may have while
traveling abroad by an Internet-based
videophone through Fast Doctor.
We hope that it will help them be prepared torespond calmly when health concerns arise inunfamiliar environments, such as when travelingabroad for the first time or with the family.

Launches “Location-Identification GPS,”a real-time location-aware optional
service that can be used overseas
We began offering a “Location-Identification
GPS” as an optional service for “GLOBAL
WiFi®” on July 9.
The Service lends out small GPS tags thatcan be used overseas. By accessing a
dedicated website from a smartphone, etc.,
you can check the current location.

Click here for the release.
©2024 Vision Inc. All Rights Reserved.

Click here for the release.

Topics：GLOBAL WiFi Business
Expand coverage area of “Unlimited Plan”
to 94 countries and regions, allowing use
without worrying about data capacity

Start free trial of “Lost & Found Service(tentative name),” a support for finding
lost items for users of “NINJA WiFi®”

Uzbekistan has not been eligible for the service
until now, but we are now able to provide it for
the first time. Samoa (Independent State) andNew Caledonia have added the “UnlimitedPlan” to their existing plans.

We launched a free trial service called “Lost &Found Service (tentative name)” for users of“NINJA WiFi®.” This service connects the finderof a lost item with the owner of the item,
utilizing QR codes by “THISIS,” a free Internet
call service provided by THISIS Inc., with whom
we have a business alliance agreement.

* Currently, the Ministry of Foreign Affairs has issued a warning against
non-essential travel to New Caledonia. Those who are considering
traveling should check the latest information.

Click here for the release.
©2024 Vision Inc. All Rights Reserved.

Click here for the release.

Topics： Information and Communications Service BusinessBegin expanding sales of “Kicho-Daiko.com,” a bookkeeping and journalizing
serviceThis service allows us to handle bookkeeping and journalizing accounting work on your behalf. It iscarried out under the supervision of our affiliated tax accountant firm, which removes customers’
concerns about the current accounting work and allows them to use the service with peace of mind.
What is “Kicho-Daiko.com” ?

We handle all the bookkeeping andjournalizing accounting work required fortax returns and financial statements on
your behalf.
Corporations andindividuals are welcome!

Cost
No initial cost
7,700 yen per month (tax included) / up to 200

We receive the necessary
documents from customers, input
them into accounting software,and prepare a trial balance, profit
and loss statement, cash book,deposit book, accounts receivablebalance list, and accounts
payable balance list on behalf ofthem. This service provides all thebookkeeping work required for tax
returns and closing on behalf ofthem.

journal entries

Click here for the release.
©2024 Vision Inc. All Rights Reserved.

Topics： Group Company adval Corp.
Open “Glade Park” in Shibuya and Omotesando, a rental space that can be used fora wide range of needs from business events to entertainment and private parties,
taking advantage of its diversity and convenience.

Glade Park Shibuya

Glade Park Omotesando

Glade Park Shibuya opened on May 10,
directly connected to the A0 exit of Tokyo
Metro Shibuya Station, and also conveniently
located a 3-minute walk from the Hachikoexit of JR Shibuya Station.

Glade Park Omotesando opened on May 13 in
a convenient location, a 2-minute walk from
Exit 3 of Tokyo Metro Omotesando Station.

The space can accommodate 350 people forstanding style, 250 people for theater style,and 140 people when seated at tables.

The space can accommodate 120 people forstanding style, 75 people for seminar style,and 66 people when seated at tables.

Click here for the release.
©2024 Vision Inc. All Rights Reserved.

Click here for the release.

To Contribute to the Global Information andCommunications Revolution©2024 Vision Inc. All Rights Reserved.