＜2020 Group Slogan＞

Digital Garage, Inc.

3Q of FYE March 31, 2020 Financial Report2020.2.10

Financial Results Highlights
FY20.3 1Q-3Q Profit before tax: 10.4 B JPY, down 2% YoY due to the impact of exchange rate

～ Double-digit sales and profit growth in recurring business (FT/MT) ～FY19.3 1Q-3Q

Consoli
dated

Profit before tax

10.6 B JPY

10.4 B JPY-2 ％The impact of exchange
rates -0.9B JPY

Comprehensive
income7.1 B JPY

8.6 B JPY +22 ％Increasing the fair valueof Welby, and achieving
incubation results

KPI

FT

FY20.3 1Q-3Q■ Transaction volume 1.8 T JPY (YoY up by 20%)■ of which, face-to-face settlement
0.2 T JPY (YoY up by 80%)
■ Advertisement volume

MT ■ Other volume

25.1 B JPY(YoY down by 6%)
4.5 B JPY (YoY up by 73%)

(CRM, application development, Data science etc )IT■ Investment/ Sold
4.5 B JPY/ 0.7 B JPY■ Fair valuation 35.1 B JPY (from E of Mar.2019 up by 32%)

LTI

■ Investment profit on equity method of Kakaku.com
2.9 B JPY (YoY up by 14%)
■ Monthly traffic for all sites of Kakaku.com
267.05 million

Profit before tax

By Segments
YoY

3.3 B JPY +24 ％Marked record-high profits,
expansion of QR code
settlement and steady progressin alliances with major players

1.5 B JPY +77 ％Performance-based-ads isrecovering, and CRM/app
development business isstrong4.4 B JPY -19 ％Fair value increased steadily
despite the impact of exchange
rates and decrease in reaction
to large-scale exits in FY19.3

3.3 B JPY

Investment profit on equity
method of Kakaku.com, Inc.
trended steadily-3 ％Copyright © 2020 Digital Garage, Inc. All Rights Reserved

2

FY20.3 1Q-3Q Consolidated P/L, C/I Summary (IFRS)Revenue increased by 7% YoY to 28.7 B JPY, profit before tax decreased by 2% YoY to 10.4 B JPY～ Revenue in recurring business grew by 19% YoY, revenue in operational
investment securities decreased by 18％ ～JPY in Millions

FY19.3

FY20.3

YoY

1Q

2Q

3Q

1Q-3Q

1Q

2Q

3Q

1Q-3Q

(%)

(Amount)

8,548

9,677

8,465

26,6908,217

11,3799,078

28,674+7.4+1,984

Revenue in recurring business

5,323

5,722

5,352

16,397

6,138

6,718

6,576

19,431+18.5+3,034

Revenue in operational investment securities

1,732

2,677

1,398

5,806

459

3,332

968

4,759

-18.0

-1,048Other income

664

206

872

1,742

817

422

301

1,540

-11.6

-203

Finance income

104

125

-134

95

1

16

28

45

-52.4

-50

Share of profit of investments accounted for using equity method

725

946

978

2,650

803

891

1,205

2,900

+9.4

+250

5,154

5,671

5,286

16,110

5,999

6,271

6,016

18,286+13.5+2,176

Cost of sales

2,463

2,629

2,312

7,404

2,740

2,976

2,853

8,569

+15.7

+1,165

Selling, general and administrative expenses

2,582

2,914

2,829

8,326

2,951

3,138

3,121

9,210

+10.6

+884

Other expenses

72

76

70

219

78

86

74

238

+8.7

+19

Finance costs

37

51

74

162

230

71

-32

270

+66.7

+108

Profit before tax

3,394

4,006

3,179

10,580

2,218

5,108

3,062

10,388-1.8-191

Profit attributable to owners of parent

3,113

2,612

1,957

7,682

1,624

3,647

2,253

7,525

-2.0

-157

Profit

3,135

2,640

1,920

7,695

1,617

3,623

2,218

7,459

-3.1

-236

549

-109

-1,067

-628

2,972

-1,184

-609

1,178

-

+1,806

376

-265

-898

-788

3,107

-1,186

-605

1,316

-

+2,104

3,684

2,530

853

7,067

4,589

2,439

1,609

8,637

+22.2

+1,570

Revenue

Expenses

Other comprehensive income
Net change in fair value of equity instruments designated asmeasured at fair value through other comprehensive income

Comprehensive income

NOTE: The above Revenue, Expenses, and Profit before tax refer to the continuing operations excluding discontinued operations
Copyright © 2020 Digital Garage, Inc. All Rights Reserved

3

FY20.3 1Q-3Q Consolidated Segment P/L Summary (IFRS)Strong performance in FT/MT led to double-digit growth in sales and profits～ Fair value of investee companies increased steadily in IT, but profit decreased due to theimpact of foreign exchange rates and a decline in valuation profit associated with stock sales ～JPY in Millions

FY19.3

FY20.3

YoY
3Q

1Q-3Q

(%)

(Amount)

8,217 11,379

9,078

28,674+7.4+1,984

5,413

2,083

2,204

2,184

6,471

+19.5

+1,058

2,953

9,396

3,376

3,984

3,705

11,065+17.8+1,669

2,890

1,485

6,273

507

3,462

1,405

5,374

-14.3

-899

1,740

1,506

2,245

5,491

2,232

1,696

1,744

5,672

+3.3

+181

3,394

4,006

3,179

10,580

2,218

5,108

3,062

10,388-1.8-191

Financial Technology

849

856

950

2,655

1,061

1,112

1,129

3,303

+24.4

+647

MT Marketing Technology

266

402

188

856

327

676

512

1,516

+77.0

+660

Incubation Technology

1,634

2,573

1,208

5,414

146

3,138

1,114

4,398

-18.8

-1,016

LTI Long-Term Incubation

1,050

825

1,528

3,403

1,493

932

890

3,316

-2.5

-86

1Q

2Q

3Q

1Q-3Q

Revenue

8,548

9,677

8,465

26,690

FT

Financial Technology

1,763

1,812

1,838

MT Marketing Technology

3,053

3,390

IT

Incubation Technology

1,898

LTI Long-Term Incubation

Profit before tax
FT
IT

1Q

2Q

NOTE: Revenue here shows revenue from external customers. Segment profit before tax is before elimination of intersegment transaction and corporate revenue and expenses.
Copyright © 2020 Digital Garage, Inc. All Rights Reserved4Changes in Profit before Tax and Comprehensive Income

 Profit before tax andProfit before tax
Profit attributable to owners of parent

Comprehensive income+ 1.3 B JPY

 IT / LTI segment- 1.1 B JPY➡ Impact of exchange rates
Valuation profit associated withsales of stocks
Gain on fair value valuation

comprehensive income
JPY in Millions

 FT / MT segment

FY19.3

FY20.3

YoY

1Q-3Q

1Q-3Q

(%)

(Amount)

10,58010,388

-1.8

-191

7,682

7,525

-2.0

-157

7,067

8,637

+22.2

+1,570 HQ➡ Increased in SG&A expenses due to-0.8 B JPY-1.8 B JPY+1.5 B JPY- 0.4 B JPY

business expansion
Impact of exchange rates-0.36 B JPY-0.13 B JPY

Decrease of profit before tax- 0.2 B JPY

 Decrease of profit- 0.2 B JPY➡ Continuing operations
Discontinues operations+ 0.2 B JPY- 0.5 B JPY Other comprehensive income + 1.8 B JPY➡ Increased fair value due to Welby listing etc + 2.1 B JPY
Foreign currency translation adjustments- 0.3 B JPY

Increase of comprehensive income + 1.6 B JPY
Copyright © 2020 Digital Garage, Inc. All Rights Reserved

5

FY20.3 3Q Consolidated B/S Summary (IFRS)JPY in Million

Current assets

End of FY19.3

End of FY20.3 3Q

Difference

Reason for change / Remarks

99,186105,384+6,197

Cash and cash equivalents

48,15447,664-491

Trade and other receivables

23,254

20,626-2,628Operational investment securities

26,69535,122+8,42747,70463,807+16,104

Property, plant and equipment

9,421

19,469+10,048

Goodwill

6,575

7,689

+1,114

19,13920,869+1,730

New acquisition
Increased investment profit on equity method

6,662

9,324

+2,662

New investments and increase in market value of listed shares

Total assets

146,890

169,191+22,301

Current liabilities

52,42058,287+5,867

Borrowings

2,211

6,600

+4,389Trade and other payables

45,79946,601+803

47,12555,932+8,808

Bonds and borrowings

35,95934,557-1,402Other financial liabilities

5,430

13,721+8,292

Deferred tax liabilities

4,744

6,581

+1,836

Total liabilities

99,545

114,220+14,675

Total equity

47,34554,971+7,626

46,60954,266+7,656

Share capital

7,504

7,576

+72

Capital surplus

4,235

4,390

+155

Treasury shares-5,026-5,012+14

Other components of equity

1,303

2,480

+1,17738,593

44,832+6,238Non-controlling interests

736

706

-30

Total liabilities and equity

146,890

169,191+22,301

Non-current assets

Investments accounted for using
equity method

Other financial assets

Non-current liabilities

Total equity attributable to ownersof parent

Retained earnings

New investments, Relating to FT business, payment of income taxes and dividends etc

Relating to FT business etc
New investments and increase in fair value of investee companies
Recognition of a right-of-use asset due to lease transactions associated with the expansion of
the headquarters floor space

Demand for working capital of FT etc
Relating to FT business etc

Recognition of lease liabilities for expansion of headquarters floor space, etc
Estimated taxes related to unrealized gains on securities

Increase in fair value of investee companies (Other comprehensive income)
Increased profit

Copyright © 2020 Digital Garage, Inc. All Rights Reserved

6Segment Performance Review

Copyright © 2020 Digital Garage, Inc. All Rights Reserved

7

FT Segment
Ⅰ

Financial Technology Segment
Revenue

Profit before tax

FY19.3

1Q-3Q

5,413 M JPY

2,655 M JPY

FY20.3

1Q-3Q

6,471 M JPY

3,303 M JPY➤ econtext, Inc.

Integrates online and offline business as the convenience store payment pioneer➤ VeriTrans Inc.

Provides leading e-commerce payment solutions➤ econtext ASIA Ltd.

Payment corporation to expand e-commerce platforms globally➤ NaviPlus Co., Ltd.

Subsidiary of VeriTrans Inc. Offers website support tools including personalizedrecommendation engines➤ ANA Digital Gate, Inc. （49％ stake／equity method）
Develops and offers the new payment solution by FinTech➤ SCORE Co., Ltd （49％ stake／equity method）

Development of post-settlement payment business and various financial
businesses utilizing settlement data

➤ TD Payment Corporation （49％ stake／equity method）
Offers multiple payment solutions for POS systems

NOTE: Revenue here shows revenue from external customers. Profit before tax is before elimination of intersegment transaction.
Copyright © 2020 Digital Garage, Inc. All Rights Reserved

8

FT Segment - Highlights
Transaction volume marked approx. 1.8 T JPY, +20% YoY,
number of transaction surpassed 349 million, +21% YoY～ Revenue rose 20% YoY, Profit before tax marked 3.3 B JPY, +24% YoY, record-high earnings～
Transaction Volume
FY19.3
1Q-3Q(JPY in 100 Million)(+20%)

15,266

FY20.3
1Q-3Q

18,342

Number of Transaction
FY19.3
1Q-3Q(in Million)(+21%)

OthersConvenience
Store
Payment

289.19FY20.3
1Q-3Q

349.90

OthersConvenience
Store Payment

Revenue
FY19.3
1Q-3Q(JPY in 100 Million)(+20%)

54.1

Data
processing
Dataprocessing

CreditCard
payment

カード

64.7
OthersMonthly basic fee/ OEMConvenience
Store
Payment

データ
処理

データ
処理
Creditカード
Card
payment

FY20.3
1Q-3Q

カード

Data
processing

Profit before tax
FY19.3
1Q-3Q(JPY in 100 Million)(+24%)

FY20.3
1Q-3Q

33.0

26.6
51.0%
コンビニ
コンビニ
Ratio of profit before
tax to revenue

カード
カード
49.1
%

CreditCard
payment
Copyright © 2020 Digital Garage, Inc. All Rights Reserved

9

FT Segment - Face-to-face settlement initiatives
Alliances with business partners to cover large businesses and small and medium-sized retail stores～ Supports au PAY in addition to d Barai® etc in multi-QR code payment solution ～Alliance strategy

Transaction volume ofFace-to face settlement

Merchant by Size ／ Payment Terminal

JV with Toshiba TEC,
the top share company
in Japan
Providing multi-payment
solution
JV with ANA group
Providing multi-payment
terminals for airports,
duty-free shops, face-toface retailers, etc
Partnering with NTT
DOCOMO, INC. andleading players inJapan and overseas
such as au PAY for
MPM settlement ofcommon QR codes

Large
Scale
MediumScale

Small Scale

POS
Register【FY20.3 1Q-3Q】

TabletPOS

168.7

Billion JPY【YoY】

MultiPayment
Terminal
mPOS

x1.8

QR CodeScanning
Panel
Cloud Pay

FY19.3 1Q-3Q
94.2 B JPY

Image of QR Code Standfor shop installationNote) MPM (Merchant Presented Mode) : Method in which consumers scan QR codes displayed at stores with their smartphones to make payments
Copyright © 2020 Digital Garage, Inc. All Rights Reserved10

MT Segment
Ⅱ

Marketing Technology Segment
Revenue

Profit before tax

FY19.3

1Q-3Q

9,396 M JPY

856 M JPY

FY20.3

1Q-3Q

11,065 M JPY

1,516 M JPY➤ Marketing Technology Company

Supports client’s business through performance-based ads, Online to
Offline strategy and web marketing➤ DG Communications Co., Ltd.

Provides solutions that make people's lives more comfortable, mainly throughthe real estate advertising business➤ BI.Garage, Inc.

Develops and provides ad products incorporating data science, social marketing,and cutting edge ad technology➤ CyberBuzz, Inc. （21.1％ stake／equity method）

Provides the social media marketing platform structured with influencers as its
center part

➤ DG MARKETING DESIGN, Inc. （20％ stake／equity method）

Established on June 25th, 2018 and its predecessor is Business Design Company

NOTE: Revenue here shows revenue from external customers. Profit before tax is before elimination of intersegment transaction.
Copyright © 2020 Digital Garage, Inc. All Rights Reserved

11

MT Segment - Highlights
Revenue marked 11.06 B JPY, +18% YoY, and profit before tax increased to 1.52 B JPY, +77％ YoY～ Maintain profitability improvement through selection and concentration of highly
profitable cases ～Revenue

Advertisement volume(JPY in
100 Million)

FY18.3

FY19.3

98
84
79

90
23

21

63

35

19

19
19
22

22

20

19

21

23

24

1Q

2Q

(4-6)

(7-9)

16

22

25

82

24

19
19

19

(JPY in
100 Million)

98

93

25

FY20.3

16

82

85

22

21

17

21

17

18

26

25

84
19

110.7

(JPY in
100 Million)

FY19.3
1Q-3Q(+77%)

20

19

8.6

32

18

28

27

3Q

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

(10-12)

(1-3)

(4-6)

(7-9)

(10-12)

(1-3)

(4-6)

(7-9)

(10-12)

Smartphone/App

Real estate

FY20.3
1Q-3Q

15.2

94.0

22

27

Cosmetics/HR(+18%)

FY20.3
1Q-3Q

16

30

Financial

FY19.3
1Q-3Q

Profit before tax

13.7%
Ratio of profit before
tax to revenue

9.1%

31

 Strong performance of finance (credit card-related advertising)
due to the government’s points-based rebate system

 Other than Internet Advertising
Business, CRM Marketing Businessand App development businessperformed well

 Selection and concentration of caseswith an emphasis on improving
profitability
 Successful control of SG&A expenses
Copyright © 2020 Digital Garage, Inc. All Rights Reserved

12

MT Segment - Highlights
Responding to Changes in the Business Environment
Revenues from CRM and app development, etc. increased 2.4 times YoY

Ⅰ＜Marketing Technology Company＞

MT / FT collaboration

Point marketing business of credit card company performed well. Continue topromote cross-segment growth strategies including FTⅡ＜DG Communications Co., Ltd.＞“Open Network Lab Resi-Tech” for the real estate developer industry 1st Batch ended
In 2nd Batch, will collaborate with the government and area partner companies of major
cities in Japan to conduct tests in line with urban plans with startups

Ⅲ＜CyberBuzz, Inc.＞

Real estate / Collaborate with ONL

Social Media Marketing

Develop proprietary platforms for influencer marketing utilizing
SNS such as Instagram and Facebook
Generate future marketing group synergies

Leading data scientists in Japan

Next-generation data technology＜Media Consortium Planning Office＞ Formed a Digital Value Study Group with 40 leading Japanese content media companies,

Ⅳ National Clientand conducted test marketing of high-value digital advertisements to major clients. Promote
activities for joint commercialization. Entered Final phase for joint commercialization＜ Strengthen data science business across FT / MT / LTI ＞
BI.Garagetransaction volume

YoY +44%

Increased advertising business from national clientsby menu developed mainly by DG and Kakaku.com

Number of clients

FY19.3 1Q-3Q

98

FY20.3 1Q-3Q

139

Copyright © 2020 Digital Garage, Inc. All Rights Reserved

13

IT Segment
Ⅲ

Incubation Technology Segment
Revenue

Profit before tax

FY19.3

1Q-3Q

6,273 M JPY

5,414 M JPY

FY20.3

1Q-3Q

5,374 M JPY

4,398 M JPY➤ DG Ventures Inc. （Former DG Incubation, Inc.)*
Invests in and incubates cutting-edge internet startups*Trade name changed to “DG Ventures Inc.” as of January 1st 2020.

➤ Open Network Lab

Seed Accelerator Program in progress in the 20 th term

➤ Digital Garage US, Inc.

The US-based global strategy headquarters➤ DG Daiwa Ventures, Inc. （50％ stake／equity method）

Manages DG Lab Fund to invest in startups with next-generation technologies

NOTE: Revenue here shows revenue from external customers. Profit before tax is before elimination of intersegment transaction.
Copyright © 2020 Digital Garage, Inc. All Rights Reserved

14

IT Segment - Highlights
The balance of operational investment securities as of the end of Dec. 2019 was
35.1 B JPY, up 32% from the end of FY19.3～ Increase in investment securities due to increase in fair value and steady progressin new investments ～Operational investment securities

Portfolio by regions

Portfolio by currencies

The fair value of operational
investment securities increased
substantially by 32% from theend of FY19.3

Building a balanced investment
portfolio centered on Global
Incubation Stream

Due to aggressive investment
overseas, USD based investment
accounts for two-thirds of total
investment(JPY in
100 Million)(+32%)

351

267

EuropeOthersINR(Rupee) GBP

0.5% 7.3%

4.5%

North
America

Japan

34.6%

24.9%
Asia

32.8%
End19.3期末of FY19.3

End20.3期
of FY20.3
2Q末 3Q

3.1%

EUR

0.3%

Others

0.5%

JPY

25.1%

USD

66.6%

Note) Shows the share of operating investment securities outstanding by region and currency
Copyright © 2020 Digital Garage, Inc. All Rights Reserved

15

IT Segment - Examples of Investment
Steady progress in investment in Japan, US and Asia
～ Strengthen the support system to continuously increase investment value ～Examples of Investment
QD Laser [Japan]
Develop and provide new semiconductor laser
solutions in the telecommunications, industrial,
medical, and consumer sectors as a pioneer in thecommercialization of quantum dot laser technology

Sen Do Technology[Vietnam]Operates Sendo, a marketplace for C2C and B2C
in Vietnam, and provides electronic wallet
services

WHILL [Japan]

Droom [India]

Transform antiquated power wheelchair into an
intelligent personal electric vehicle, focusing on an
approachable and aesthetically pleasing powered
vehicleA leading online marketplace for new andsecond-hand automobiles in India

Goodpatch [Japan]

NoBrokerTechnologies
Solutions [India]

Provides one-stop services and product planning,
concept making, UX design, prototyping, andimplementation

Moneytree [Japan]
Provides personal finance app that aggregates bank,credit card, e-money, and various expenses to theuser’s smartphone etc to check and track accountbalances and usage.

Profit before Tax(JPY in 100 Million)(-19%)

54.1
44.0

Operates India’s peer-to-peer property marketplace.
Using this service, people can rent/buy houses online
without brokers

GrubMarket [US]Develop a leading marketplaceplatform specializing in freshorganic foods

19.3期 3Q(累計)FY19.3
1Q-3Q

20.3期 3Q(累計)FY20.3
1Q-3Q

Copyright © 2020 Digital Garage, Inc. All Rights Reserved

16

LTI Segment
Ⅳ

Long-Term Incubation Segment
Revenue

Profit before tax

FY19.3

1Q-3Q

5,491 M JPY

3,403 M JPY

FY20.3

1Q-3Q

5,672 M JPY

3,316 M JPY➤ Kakaku.com, Inc. （20％ stake／equity method ）Operates purchase support service Kakaku.com, restaurant review andrestaurant service tabelog, and New Media and Solutions➤ Crypto Garage, Inc.

Promoting development of advanced financial services utilizing blockchain
technology and cryptography technology with Tokyo Tanshi Co., Ltd.

➤ ACADEMIE DU VIN

Operates wine schools and wholesaling wine.

NOTE: Revenue here shows revenue from external customers. Profit before tax is before elimination of intersegment transaction.
Copyright © 2020 Digital Garage, Inc. All Rights Reserved

17

LTI Segment - Highlights
Profit before tax marked 3.32 B JPY, remained flat from FY19.3 1Q-3Q～ While upfront expenditures for businesses under investment development had an impact,
Investment profit on equity method of Kakaku.com, Inc. steadily contributed ～Profit before tax
税引前利益(JPY in 100 Million)

34.0

19.3期 3Q(累計)FY19.3
1Q-3Q

（-3%）

Business Progress of Kakaku.com, Inc.
【Total Accumulated Traffic for Kakaku.com Group】
Monthly traffic for all sites of Kakaku.com has increased to

33.2

267.05 million, up 4.8% YoY (December 2019)(in million people)

YoY
+4.8%

20.3期 3Q(累計)FY20.3
1Q-3Q
Ref. Kakaku.com, Inc. Results Briefing for 3Q FY2020/3
Copyright © 2020 Digital Garage, Inc. All Rights Reserved

18Appendix

Copyright © 2020 Digital Garage, Inc. All Rights Reserved

19

Financial Results: Consolidated PL (IFRS)JPY in Millions

FY2018.3

FY2019.3(Result)(Result)

Continuing operations
25,50335,687

Revenue in recurring business

18,141

22,713

Revenue in operational investment

1,007

6,090

Other income

2,111

1,933

Finance income

764

117

3,481

4,835

Revenue

Share of profit of investments accounted for using equity method

Expenses

17,12722,264

Cost of sales

7,187

10,401

Selling, general and administrative expenses

9,095

11,296

Other expenses

542

332

Finance costs

303

235

Profit before tax

8,376

13,424

1,857

4,088

6,518

9,336

Income tax expense
Profit from continuing operations
Discontinued operations
Revenue

3,260

1,261

Expenses

3,403

1,655

Profit (loss) before tax from discontinued operations

-143

-394

38

-225

Loss (gain) on sales on discontinued operations-

898

Income tax expense from sale of discontinued operations-

275

Profit (loss) from discontinued operations

-181

454

Profit

6,337

9,790

6,412

9,771

-75

19

Income tax expense

Profit attributable to
Owners of parent
Non-controlling interests

Copyright © 2020 Digital Garage, Inc. All Rights Reserved

20

Financial Results: Consolidated PL by Segments (IFRS)JPY in Millions

Revenue

FY18.3

FY19.3(Result)(Result)

25,50335,687

FT

Financial Technology

5,929

6,693

MT

Marketing Technology

9,939

13,676

IT

Incubation Technology

8,022

LTI

Long -Term Incubation

2,553
6,301

7,133

8,376

13,424

Profit before tax
FT

Financial Technology

2,809

3,174

MT

Marketing Technology

1,856

1,390

IT

Incubation Technology

6,889

LTI

Long-Term Incubation

1,321
3,621

4,378

NOTE: Revenue here shows revenue from external customers. Segment profit before tax is before elimination of intersegment transaction and corporate revenue and expenses.
Copyright © 2020 Digital Garage, Inc. All Rights Reserved

21

Press Releases
Date

Title

2020.2.4

DG Lab to Host THE NEW CONTEXT CONFERENCE 2020 TOKYO on the Theme of "Whole Earth 2020 @Tokyo"

2020.1.22

ECONTEXT Supports "ATM Uketori" for the CASH POST Wire Transfer Service through the Collaboration with Seven
Payment Service

2019.12.27

Digital Garage Group's "Cloud Pay", a Multi-QR Code Payment Solution, Supports KDDI's au PAY

2019.12.23

VeriTrans Provides Credit Card Payment Services for GO2GO, IDOM's Car Sharing Service

2019.12.16

VeriTrans - Comprehensive Payment Solution VeriTrans4G Supports "PayPay"

2019.10.24

Digital Garage Group's "Cloud Pay", a Multi-QR Code Payment Solution, Supports Alipay, AlipayHK, and Kakaopay

2019.10.23

7 Companies Established the Japan Digital Therapeutics Consortium and Launch Activities

2019.10.4

DG Lab to Host THE NEW CONTEXT CONFERENCE 2019 SAN FRANCISCO

2019.9.17

VeriTrans Provides Post-Settlement Payment Service "VeriTrans Atobarai" for UNIQUEST's "Small Funeral"

2019.9.12

Digital Garage and KDDI Conduct a Digital Transformation (DX) Proof of Concept Using AR and VPS Technology

2019.8.30

Digital Garage and Daiwa Securities Group Establish DG Lab Fund II for Global Startups with Next-generation
Technologies

2019.8.16

Digital Garage's Equity Method Affiliate, CyberBuzz is Approved for Listing on the TSE's Mothers Section

2019.8.2

Digital Garage Supports Joint PoC Projects by 7 Major Companies and 5 Startups through "Open Network Lab ResiTech"

2019.7.25

Digital Garage Joins MIT Media Lab's "Space Exploration Initiative"

2019.5.31

Digital Garage, Fukuoka D.C., and Fukuoka Growth Next Launch the Smart City Incubation Program, "Open Network
Lab FUKUOKA"

2019.5.16

Digital Garage Group Launches "Cloud Pay", a Merchant-presented mode Multi-QR Code Payment Solution

Copyright © 2020 Digital Garage, Inc. All Rights Reserved

22

Press Releases
Date

Title

2019.5.13

Digital Garage and Welby Launch a Proof of Concept Project for PHR Lifestyle Disease Prevention Program in Fukuoka
City to Build a Personal Health Record Platform2019.5.9

DG Lab to Host THE NEW CONTEXT CONFERENCE 2019 TOKYO on the Theme of "How to Build a Data Ecosystem"

2019.4.19

Crypto Garage Developed and Executed the Contract of a P2P Protocol Based Crypto Asset Derivative Settled in
Bitcoin2019.4.12

DG Incubation Co-leads Investment in Food E-Commerce Service GrubMarket

2019.4.1

VeriTrans Launches Credit Card Payment Services for Patent and Other Fee Payments to the Japan Patent Office

Copyright © 2020 Digital Garage, Inc. All Rights Reserved

23

Please note that the business forecasts and strategies covered in today’s presentation are based on our current evaluation and future results may vary significantly depending
on unforeseeable events or circumstances. This announcement is solely for the purpose of the investors relationship and is not for making any solicitation for investment inany securities. This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or any other jurisdiction in whichsuch offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any securities of our consolidated
subsidiaries have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of the U.S. Securities Act. Any public offering of securities to be made in the United States will bemade by means of a prospectus. Such prospectus will contain detailed information about the company making the offer and its management and financial statements.