FY2020

Supplementary Materials

February 15, 2021
Vision Inc.
TSE 1st Section： 9416
1

Copyright(C) 2021 VISION INC. All Rights Reserved.

Company Overview

Copyright(C) 2021 VISION INC. All Rights Reserved.

2

VISION INC.
Code

9416

Operation Bases and Affiliates(1st Section of the Tokyo Stock Exchange)

Incorporated

Domestic Affiliated Companies： 6

December 4, 2001

Domestic Operation Bases： 12(Founded June 1, 1995)

Management
Philosophy

To Contribute to the Global Information
and Communications Revolution

Head Office

5F Shinjuku i-Land Tower, 6-5-1 NishiShinjuku, Shinjuku-ku, Tokyo 163-1305

Number ofConsolidated
Employees

736 (120)
Domestic: 670 (118)
Global: 66 (2)(Average temporary
employees)(As of December 31, 2020)

AffiliatedCompanies

Domestic: 6
Global: 12

Global Affiliated Companies： 12
Korea, USA (Hawaii), Hong Kong,
Singapore, Taiwan, UK, Vietnam,
China (Shanghai), France, Italy,
USA (California), New Caledonia

Vision Inc.
Best Link Inc.
Members Net Inc.
Alphatechno Inc.
BOS Inc.
Vision Ad Inc.
Vision Digital Marketing Inc.

GLOBAL WIFI.UK LTD
Global WiFi France SAS
Vision Mobile Italia S.r.I.

(As of December 31, 2020)

Business

Domestic Airport Counter： 19

GLOBAL WiFi
Information andCommunications Service

上海高效通信科技有限公司

Vision Mobile Korea Inc.
Vision Mobile Hawaii Inc.

Vision Mobile Hong Kong Limited

VISION VIETNAM ONE MEMBER
LIMITED LIABILITY COMPANYVISION MOBILE USA CORP.

無限全球通移動通信股份有限公司（台湾）

GLOBAL WIFI.COM PTE. LTD.
VISION MOBILE NEW CALEDONIA

Affiliates, Purchasing / Operation Bases
Purchasing / Operation Bases
System Development Center (Offshore)

Copyright(C) 2021 VISION INC. All Rights Reserved.

3

History and Sales Change
25th anniversary
Changed the market to the 1st Section of
the Tokyo Stock Exchange in Dec. 2016

Started GLOBAL
WiFi business

Listed with “Mothers” of the Tokyo
Stock Exchange in Dec. 2015

Started e-ca
(domestic) Wi-Fi
router rental
business

2020

2016

2015

2012

Startedbroadband
business

2010

2008

Started company
cellphonebusiness

2007
2006
2005
2004
Started Internet
advertisingbusiness

Founded
1995

2003
Started international telephone service
sales business for South American people
who live in Japan

Irregular
perioddue tochangesin fiscal
year-end

Copyright(C) 2021 VISION INC. All Rights Reserved.

4

Our Core Strategies

Offer just the right value and sustainable growth
Niche & Focus
strategy

Price & Quality
leadership strategy

Up/Cross selling
strategy

Discover the challenges born inthe niches of the evolution in
information and communications,and develop new markets.
Focus management resources
on carefully selected targets,and refine our services.

Production efficiency isthoroughly pursued.
Realized by improving
organizational structure andbusiness speed.
While maintaining high quality ofservice, demonstrate pricecompetitiveness surpassing
competitors.

Pick up new needs for informationand communications services andcontinuously offer services atreasonable prices at the righttime.
Build a long-term relationshipwith customers.

 Overseas travelers
 Startup companies

 Productivity, price advantage
 Service quality evaluation
Copyright(C) 2021 VISION INC. All Rights Reserved.

 Original CRM
 Stock business5

Business Summary

Copyright(C) 2021 VISION INC. All Rights Reserved.

6

Two Business Segments“GLOBAL WiFi” Business
Provide anytime, anywhere, safe, secureand comfortable mobile internet
environment all over the world.
Rental service.
Connectable with multiple users and multiple
devices (companion, smartphone, laptop, etc.).

Information and Communications
Service Business
Provide the most suitable information andcommunications-related products andservices tailored to the stage and needsof the company since starting business.
Our own sales structure, CRM.
Web marketing × Sales rep × CLT (Customer
Loyalty Team).com

Order and payment

Receive routerUse overseas

Return router

Telephone Cellphone
OfficeSupport AutomationLine
Arrangements

Copyright(C) 2021 VISION INC. All Rights Reserved.

WebsiteSupportSecurity

ElectricPower

Cloud App
Service(SaaS)

7

“GLOBAL WiFi” BusinessBusiness Model/Competitive Advantage

Areas

Maximum cost benefits -89.9%
From JPY300/day

Japanese cellphone companies’ fixed-rate discount comparison

Available in over 200 countries and regions worldwide, leading theindustry in the number

Comfortable

High-speed communications in partnership with telecom carriers aroundthe world

Safe / Secure

Secure; 47 support bases available 24 hours a day, 365 days a year,
around the world

Worldwide
telecommunications
companies

Customers

Uptake ability of corporate needs
Number of users is the largest in the industry

Datacommunication
service

Payment

Direct website
Apps
Affiliates
EC mallCorporate sales
Partners
Airport counters

Shipping
ReturnEnd Users

Corporate Sales

Number of airport counter is the industry’s largest class

Vision GroupCounterJoin from Sep. 2019.
One of the world’s largest
mobile telecom businessassociations that links
more than 750 mobile
telecom carriers and 400
related industrial
operators worldwide.

Rental fees

Copyright(C) 2021 VISION INC. All Rights Reserved.

Payment

Settlement service
providers

Less Expensive
Fixed-rate

8Compare How to Connect the Internet Abroad ①“Global WiFi” “NINJA WiFi” is the best way due to safe, secure, comfortable, and lessexpensive.
It’s not a big deal to share with a rental Wi-Fi router, although people are reluctant toshare their own data-volume with others (Individual travel: tend to share with two or
three people).
* Create by our research and standard
How to Connect

Price

Area

Speed

Management

Security

○

○

○

○

○

Based on the best quality network in each local area. Low price, secure, safe,
available to connect anywhere. Easy to set-up, easy to manage.

Roaming(Telecom carriers’
fixed-rate)

Prepaid SIM(Purchaseoverseas)

Free Wi-Fi Spot

×

△

△

○

○

Problem with price and quality(From JPY980 to JPY2,980/day. It may be charged even more.)

△

△

○

×

○

Need knowledge to manage (Set-up, activation, periodical charge, etc.)

○

×

△

○

×

(Hotel, Café, etc.) Problem with coverage (not available in everywhere), speed (depend on data-line of
the facility and the number of connected people), security
Copyright(C) 2021 VISION INC. All Rights Reserved.

9

Compare How to Connect the Internet Abroad ②

Wi-Fi router rental
JPY300-2,170/day* World tour plan JPY2,980/day

Apply through the website.

Table

Price

Roaming(Telecom carriers’
fixed-rate)

Free Wi-Fi Spot /Hotel Wi-Fi

JPY980-2,980/day

Free Wi-Fi spot freeContract according to the plan
Need to check in advance thecompatible models and settings.
* Depend on your mobile carrier

Fixed-rate and high-speed
Substantial security and compensation
Use without worry due to the fixed-rate.
Choose the data-volume according to thesituation.

Merit

Easy to connect

RecoInternet availability anywhere. mmend
No worry about busy access anddifficulty to connect.

accommodation fee or
JPY500-3,000
Easy to use* Tethering is also available.

Limited use area, but many places
are provided for free, and connection
is easy.

Expensive

Be careful about
unauthorized access

More luggage
Price setting is more expensive than
Need to carry a Wi-Fi router in addition to Demerit
Wi-Fi rental.
your smartphone.
Misconfiguration of data-roaming may
result in expensive charges.
If you use the internet at a high-speed
without worrying about additional charges(Available to use by multiple people, evencheaper by the split)

Hotel Wi-Fi including

If you want to use theinternet easily
with your own device

Copyright(C) 2021 VISION INC. All Rights Reserved.

Easy to use, but there is a risk ofvirus infection and personal
information may be stolen byunauthorized access.

Want to save money,
although the coveragearea is limited.
If it is enough for you to
use the internet abroad
within a limited time10

“GLOBAL WiFi” Business
Items

Profit Structure

Summary
Overseas
Regular rental：
Rental price per day × number of days used
Average: JPY1,000/day, Average number of days used: 7 days

Sales

Options such as insurance, mobile battery, etc.

GLOBAL WiFi for Biz：
Monthly charge (JPY1,970) + data communication fee (plan) × number of days used

Domestic
Rental price per month (available for rental from 1 day)Average: Approx. JPY5,000/month, Average days used: 1.5 months (45 days)

Cost of sales

Data communication (telecom carriers in the world)
Terminal price (mobile Wi-Fi routers)
Recorded as rental asset (recorded by 2-year depreciation)

Outsourcing (commission paid to sales agents), etc.

SG&A expenses

Personnel, advertising, shipping delivery, business consignment,
credit card payment, etc.
Operation and rent of shipping centers, airport counters, customer
centers, etc.
Other SG&A expenses, etc.
Copyright(C) 2021 VISION INC. All Rights Reserved.

11

Airport Counter and Smart Pickup
Receive and return at domestic 18 airports, 39 counters, 36 Smart Pickup units, and return BOX.
Installed automatic pick-up lockers at 11 airports.
Newly opened counter: 1 counter *FY2020 cumulative period
Haneda Airport Terminal 2
Newly installed Smart Pickup: 5 units *FY2020 cumulative period
Komatsu Airport, Narita Airport Terminal 3, Kita-kyushu Airport, Chubu Centrair International Airport Terminal 2,
Kagoshima Airport

The service level is optimized according to customer.
Eliminate waiting time for customers who do not need explanation such as repeaters (Utilize Smart Pickups).
Airport staffs respond to customers who need explanation (Utilize airport counters).
The highest number of airport countersin the industry
Receive and Return according tocustomers’ needs

Airport and other places to receive/returnin Japan
Hokuriku/Koshinetsu

Niigata Airport

New Chitose Airport★

Komatsu Airport★

Asahikawa Airport

Kyushu/Okinawa
At the airport

At a convenience store

By delivery

Fukuoka Airport★

Overseas destination

Copyright(C) 2021 VISION INC. All Rights Reserved.

Hokkaido/Tohoku

Sendai Airport
Kanto

Kita-kyushu Airport★

Narita Airport★

Oita Airport

Haneda Airport★

Miyazaki Airport

SHIBUYA“CHIKAMICHI”

JR Miyazaki Sta.

Tokai/Kansai

Kagoshima Airport★

Kansai Airport★

Naha Airport

Chubu Airport★

Miyako Shimojishima
Airport★

Shizuoka Airport
Itami Airport★

★Available for automatic pick-up lockers

25Expand Service Areas for Unlimited Plan
- Competitive Advantage When Recovering Travel Recently we tend to consume large amounts of data communication capacity, such as
diversified smartphone apps, transmission and reception of large-volume images andvideos, and SNS posting.
Popular to share with multiple people such as friends and family members, and to use
multiple devices (smartphones, tablets, laptops, etc.) for business.
⇒ Expand the service areas responding to a request for the plan that can be usedwithout worrying about data capacity.
Choice ratio of unlimited plan increased in both corporate and individual users(over 40%). ⇒ Improve ARPU.
Changes in the numberof service countries

Data
capacity

Start offering an unlimited plan

Further expanded
the coverage area.

Available in 91 countries

What’s an unlimited plan?
“Unlimited plan” with unlimited data capacity
was born from the voice of customers whowant to use without worrying about the datacapacity.

Copyright(C) 2021 VISION INC. All Rights Reserved.

Feb. 20194

Jun. 201971

Sep. 201972

Dec. 201973

Mar. 2020

74

Jun. 2020

91
13

Smart Strategy
Automatic pick-up locker

Self check-in KIOSK terminal(Multi-language available andsettlement function)

You can receive in 10 seconds
without waiting.

Smart Pickup

Immediate customer
identification counter(QR code reception counter)

Reception(Automatic pick-up locker)

Smart Pickup

Smart Check

Smart Entry

Shorten waiting time

No congestion

Improve CS

Standby

Improve convenience

Increase sales

Evolve to more convenient, comfortable, relieved counters that meet each customer’s needs,
responding to the increase in the number of rental (delivery) and optional services (compensation
service, accessory etc.), for Japanese traveling overseas and foreign visitors to Japan.

Copyright(C) 2021 VISION INC. All Rights Reserved.

14

Online Order System just before Departure(Smart Strategy × CLOUD WiFi × Database）

Smart Strategy

CLOUD WiFi

Collaboration

Database

Collaboration

Collaborate with each effort to further improve convenience

Acquire departing passengers on the day.
⇒ Increase number of users.
* Respond to WEB application in front of the airport counter
instantly in collaboration with the database.

Copyright(C) 2021 VISION INC. All Rights Reserved.

15

Expand Tabi-naka Services (Services during Travel)
Expand Tabi-naka services (including options), responding to customer
requests.
Support safe, secure, and comfortable travel.
Emergency location information service

Mobile battery

Advertising(destination information)

Translation device(pocketalk, ili)

Add data capacity
during travel
Total datacapacity is 0

Add data
capacity

Transit
GoPro HERO8

Damage Submerged

Lost

Theft

Mini photo
printer

Noise cancelingearphones

360° camera
Ultralight folding umbrella

Belongings Delay

Insurance
Copyright(C) 2021 VISION INC. All Rights Reserved.

16

Travel Related Service Platform
Use existing customer base and provide useful information/services to solve
problems during overseas travel.
In Japan, total approx. 4.06mn people/31.22mn nights

Overseas
travelers

Outbound (approx. 3.47mn people/24.29mn nights) + Inbound (approx.
0.99mn people/6.93mn nights) ＊ FY2019 results, our research

Advertising
revenue
improvement

Useful information(Media)Promotional materials(included flyers)

Airport counter

Useful services

ARPU
improvement

Optional services that are convenient when travelingInsurance, coupons, shop & duty-free shop, hotel & minpaku,
tours, rental cars & limousine, tourist attractions, etc.

Settlement platform

Guide customers to allied partners
Copyright(C) 2021 VISION INC. All Rights Reserved.

《Reference》
FY2018 results:
approx. 3.6mn people/25.22mn nights
・Outbound... approx. 2.82mn people/19.76mn nights
・Inbound… approx. 0.78mn people/5.45mn nights
17

“GLOBAL WiFi” Business

Rental Number Change

Our Wi-Fi rental service penetration ratio (Japan) *14.9%

Overseas use share (Outbound: Japan ⇒ Overseas)
Domestic use share (Inbound: Overseas ⇒ Japan + Japanese)
Share in the Japanese market (Out + In)

6.4%
4.4% 2.7%
1.4%
3.5%

2.0%
0.4%
0.3%
0.0%
0.2% 0.7%
FY2012FY2013
FY2014

1.2%
FY2015

11.7%
8.3%

7.1%

2.1%

2.2%

2.5%

3.1%

FY2017FY2018FY2019* Usage number of “GLOBAL WiFi for Biz” is not included.
Overseas business (Except for use in Japan, Overseas ⇒ Overseas)
Domestic use (Inbound: Overseas ⇒ Japan + Japanese)
Overseas use (Outbound: Japan ⇒ Overseas)

5
4

FY201224
122
FY201351
1
346
FY201464
FY2015* Create from Japan Tourism Agency material and our research.

7.8%

5.8%

FY2016

114
6
19
88

165
6
28
130

223
6
40

175

15.3%

8.6%

4.7%

Annual rental number (Unit: 10 thousand）

78
4
9

17.3%

283
7

2.9%
FY2020

59

216

96
1
64
30

FY2016FY2017FY2018FY2019Copyright(C) 2021 VISION INC. All Rights Reserved.

FY202018

“GLOBAL WiFi” Business

Market Size

Inbound (Foreign visitors to Japan)

Overseas travelers in the world(Number of international tourist arrivals)

Approx. 31.88mn people for a year.

A huge market of 1.4bn people.

* Results in FY2019

Approx. 4.11mn people for a year.

* Results in FY2018* Results in FY2020 (due to COVID-19)

Government’s target
60mn people in 2030
(bn people)(10 thou. people)

Outbound (Japan → Overseas)
Approx. 20.08mn people for a year.

1.80

6,000

* Results in FY2019

Forecast

Approx. 3.17mn people for a year.

1.40

1.33

* Results in FY2020 (due to COVID-19) Government’s
target3,188

Inbound
Outbound

0.95

3,119
2,869

1.00

1.04

1.10

1.14

1.19

1.24

2,403

861

1,973
1,341
835 1,036
621

1,6631,6991,8491,7471,6901,6211,7111,7881,895

2,008

411

1,900

317
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

～

2030

2010 2011 2012 2013 2014 2015 2016 2017 2018

～

2030

Create from JNTO materials, Reiwa1 edition tourism white paper, and the materials released by UNWTO

Copyright(C) 2021 VISION INC. All Rights Reserved.

19

Information and Communications Service Business
Growth Strategy (Competitive Advantage)

StartupCompanies
WEB Strategy

Customer Loyalty

Products andservices

Have new dealings with one company in ten companies* that are newly established within
the year in JapanThe number of national corporate registration ... 118,532 (2019)
Source: Ministry of Justice

Ability to attract customers due to our own WEB marketing (Internet media strategy)
CRM (customer relations/continuous dealings) strategy, our own know-how
Maximization of continued revenue ＝ Stock business
Additional sales with high productivity (up/cross selling)
Products and services that lead to customers’ “sales improvement”, “cost reduction”,“efficiency improvement”, “communication activation”, and “DX promotion” (Productsthat are less affected by the economy)
We have multiple business segments (each product), and the business structure can bechanged according to the situation (economic conditions, trends, etc.) (a flexible businessstructure).

.com
Telephone Line Cellphone
Arrangements
Support

OfficeAutomation

Website Support

Security

Electric Power

Cloud App
Service(SaaS)* Total number of companies established within 6 months (including sole proprietors), starting business with us (our research)
The number of acquisitions will depend on the fluctuations in handling services and products.
Copyright(C) 2021 VISION INC. All Rights Reserved.

20

Information and Communications Service BusinessProfit Structure
Summary
Items

Sales

Cost ofsales

Telephone line arrangements, cellphone,electric power, etc.

Office automation (multifunction printer,business phone), website support, security

Business brokerage fee (commission)

Sales priceContinuation fee (according to customers’

Fee from leasing company and credit company

usage situation)

Maintenance fee

Fee from telecom carriers and primary agents

Fee from the manufacturers and factoring

Devices (cellphones)

Devices (office equipment, security)

No cost of sales for telephone line arrangements

Payment to the manufacturers

and electric power

Outsourcing (commission paid to agents),

Payment to telecom carriers and primary agentsetc.

Outsourcing (commission paid to agents), etc.
Personnel expenses

SG&A
expenses

Advertising expense (website, etc.)
Rent of call center etc.
Other SG&A expenses, etc.

Copyright(C) 2021 VISION INC. All Rights Reserved.

21

Information and Communications Service Business
Market Size
Number of incorporation registrations (total) ：118,532

Number of registration of transfer of head officeand branch (total) ：145,900

Approx. 120 thousand companies annually.
(Continued increase trend due to aggressive establishment
and corporate support by the government)
Attract customers utilizing the know-how of web
marketing with over 15 years experience.
Target newly established companies.

Approx. 150 thousand companies annually.
(Excluding the number of offices transferred that are notobliged to apply for registration)
Cover change procedures, etc. on addition and relocation.
Up/cross selling by advanced operations of Customer
Loyalty Team (CLT).

10.6

8.7

8.9

9.1

11.1

11.4

(10 thou.)

11.8 11.6 11.8
13.8

13.3

13.0 13.0 13.1

14.2
13.7 13.9

14.4 14.5

9.6

2010 2011 2012 2013 2014 2015 2016 2017 2018 20192010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Copyright(C) 2021 VISION INC. All Rights Reserved.

22

Information and Communications Service BusinessBusiness Model“Vision Hybrid Synergy model”

Sales improvement

Existing users
needs
Up selling Cost reduction
Cross sellingneeds
Efficiency(Pull)The business model built for 25 years since its
foundation has been developed to allbusinesses such as “GLOBAL WiFi” business.

Corporate sales strength (structure, know-how,
CLT
Cross
selling
Improve customer
various sales channels)
Up selling

Apparent needs that
customers are aware ofUser relationship

Develop newVideo.com websites,customers Landing
pages (LP)marketing(Pull)
SNS&emailGlobalmarketing

DX promotion

DX promotion
New users

Subscription
promotion

Potential needs that
customers areunaware of

Existing users

Management
Strategy Promote productivity

DX promotion

improvement

Analyze customer
Improve gross profit,
attributes
Strategy

Big data
Targetingmarketing

In-house SaaS
promotion

DX promotion

Membershipstrategyplanninggross profit margin
and absolute amount

Strategic investment Improve(M&A, alliance)
procurement

Sales

Sales improvement
needs

Cost reductionneeds
Efficiency
improvement
needs
Communication
activation needs

Multi-job
promotion

Assetsmarketingactivation needs

satisfaction

Enhanceescalation

Marketing

improvement
Communication needs

Improveaverage value(escalation, visits,
acquisitions)

DX promotion
Enhance sales,
Enhancetelemarketing
partner, FC
Sales contact
centerDevelop new customers(Push)

Copyright(C) 2021 VISION INC. All Rights Reserved.

Existing users
Up selling
Cross selling(Push)

Definite targeting, timing
sales, Life Time Value
23

Information and Communications Service Business
Customer Service
Create values with advanced operations
Customer Loyalty Team (CLT)
From delivery procedure to follow-up
Covers a wide range of operations

Customers

Sales rep

Customer Loyalty Team

ProposalContract

Subscription and Delivery
procedure
Decidein details
VariousInstallation
arrangements
Delivery

Arrange schedule

Copyright(C) 2021 VISION INC. All Rights Reserved.

Follow-up
SupportHearing

Provideinformation24

Information and Communications Service Business“High Efficiency” Marketing“High efficiency” marketing with combined three factors:
web marketing × sales rep × CLT

Newcustomers

Acquire highly
reliable actual
demandExisting
customers

Hearcustomers’
problems andneeds

Proposalwith highprecision

Cooperation

Cooperation

Web marketing
team

Customer Loyalty
Team (CLT)

Sales rep
Copyright(C) 2021 VISION INC. All Rights Reserved.

25

Information and Communications Service Business
Escalation (Cooperation among Divisions, Customer Referral)
Organization culture that creates continuous evolution○たゆまぬ進化を生みだす組織カルチャーHigh productivity created by escalation system (cooperation among
事業部間連携（エスカレーション）が生みだす高い生産性
divisionsand customer referral)
Customers

Improve productivity through flat and open culture,and the “escalation system” promoting cooperation among divisions

Cooperation

Cooperation

Cooperation

Cooperation
Copyright(C) 2021 VISION INC. All Rights Reserved.

26

Information and Communications Service Business
Stock-type Business Model
Stock-type Business Model
Offer optimum solutions according to the growth stage, continuing close to thegrowth of customer companies.
Structure that accumulates profits by our original know-how CRM (customer
relations/continuous dealings).
Offer products and services

Optimum
solutions

Offer OA equipment
and website support
etc. suitable for thebusiness environment
Consulting services
suitable for thebusiness growth stage

Optimum
solutionssuitable for the businessenvironment
Offer in-house products
and services
Consulting services suitable
for the business growth
stage

Further growth
stage

Early growthstage
Startup
stage

Increase members
coming from expansion(Add communicationlines, and numbersof units, etc.)

Optimum
solutions

Increase members
coming from expansion(Add communicationlines, and numbersof units, etc.)

Current main targets

Future targets“Reserves for Growth”“Enterprises in growth stages”

Copyright(C) 2021 VISION INC. All Rights Reserved.

27

APPENDIX

Copyright(C) 2021 VISION INC. All Rights Reserved.

28

Group Structure
Number of affiliated companies

Number of operation bases
Airport counter (directly operated)
Overseas
Domestic

Overseas
Domestic

12
12

12

12

12

3

3

2016

2017

452
127

497

10
12

12

8

7

12

12

2018

2019

2020

2016

2017

174

205

206

146

Profession
Clerical
Sales

452
32
194

325

351

2016

2017

412

2018

444

2019

12

12

16

15

12

2018

2019

2020

Personnel classification
649
586
84
72
497
41
228
200
191

410

2020

18

14

7

Number of employees (Full-time)649
616
Female
586
Male

15

19

12

616
56
210

226

265

314

337

350

2016

2017

2018

2019

2020

Copyright(C) 2021 VISION INC. All Rights Reserved.

29

Performance Data
Sales

27,318Gross profit
Gross profit margin

21,503
17,554
14,843
12,485
10,1855,651
55.5

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021
Forecast

6,909

10,160
8,622
58.1

5,365
52.7

6,105

48.9

7,332

49.4

8,793 8,676
58.8

57.9

57.4

55.3

52.8

57.2

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021
Forecast

Operating profit

SG&A expenses

3,325

Operating profit
Operating profit margin

12,365

10,165
8,372

15,69012,65016,654
15,163

SG&A expenses
SG&A-to-sales ratio(JPYmn, %)Gross profit

2,484 12.2
1,788

8,689 8,268

11.6

1,290 10.2
52.2
47.7

47.3

54.5

45.3

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021
Forecast

804
286
2.8

8.7

6.4

407
103
0.6

2.7

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021
Forecast

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30

Customer Attributes (Corporate/Individual)“GLOBAL WiFi” Business

Overseas Use (Outbound)

4Q FY2020 *Fiscal period(Oct.-Dec.) Result

Rental number
Corporate
Individual

17.9%

Amount

13.6%

82.1%

4Q FY2019 *Fiscal period
Rental number(Oct.-Dec.) Result

60.5%

86.4%

AmountCorporate
Individual

39.5%

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Corporate
Individual

50.8%

Corporate
Individual

49.2%

31

Customer Attributes (Corporate/Individual)“GLOBAL WiFi” Business

Overseas Use (Outbound)

FY2020 *Cumulative period(Jan.-Dec.) Result

Rental number

AmountCorporate
Individual

34.5%

46.0%

54.0%

65.5%

FY2019 *Cumulative period
Rental number(Jan.-Dec.) Result

AmountCorporate
Individual

36.9%
63.1%

Copyright(C) 2021 VISION INC. All Rights Reserved.

Corporate
Individual

Corporate
Individual

45.8%
54.2%

32

Customer Attributes (New/Repeat)“GLOBAL WiFi” Business

Overseas Use (Outbound)

4Q FY2020 *Fiscal period(Oct.-Dec.) Result

Rental number

AmountRepeat
New

35.7%

64.3%

4Q FY2019 *Fiscal period
Rental number(Oct.-Dec.) Result

41.7%

Repeat
New

52.0%

48.0%

AmountRepeatNew

RepeatNew

58.3%

Copyright(C) 2021 VISION INC. All Rights Reserved.

43.6%

56.4%

33

Customer Attributes (New/Repeat)“GLOBAL WiFi” Business

Overseas Use (Outbound)

FY2020 *Cumulative period(Jan.-Dec.) Result

Rental number

AmountRepeat
New

46.4%

53.6%

FY2019 *Cumulative period
Rental number(Jan.-Dec.) Result

44.7%

Repeat
New

50.9%

49.1%

AmountRepeatNew

RepeatNew

55.3%

Copyright(C) 2021 VISION INC. All Rights Reserved.

46.4%

53.6%

34

Customer Attributes (Age/Gender, Corporate or Individual)“GLOBAL WiFi” Business

Overseas Use (Outbound)

4Q FY2020 (Oct.-Dec.) Result
Gender, Corporate or individual

Age
5.5%
6.0%

9.2%

1.4%
8.7%

14.2%

10.0%

9.7%

19.8%

10.7%
54.0%

11.7%

16.5%

12.0%

10.7%

Under 18
35-39
55-59

19-24
40-44
Over 60

25-29
45-49
Unknown

30-34
50-54

4Q FY2019 (Oct.-Dec.) Result
1.4%
5.8%

Age
6.6%

8.1%

3.4%

Individual / Male

Corporate / Female

Corporate / Male

Gender, Corporate or individual
15.3%

17.7%
7.7%

10.5%

44.4%

15.4%

9.3%
10.1%

Under 18
35-39
55-59

Individual / Female

19-24
40-44
Over 60

11.7%

32.7%

25-29
30-34
Individual / Female
45-49
50-54
Corporate / Female
Unknown
Copyright(C) 2021 VISION INC. All Rights Reserved.

Individual / Male
Corporate / Male35

Customer Attributes (Age/Gender)“GLOBAL WiFi” Business

Overseas Use (Outbound)

4Q FY2020 (Oct.-Dec.) Result
Age (Male)
9.7%
6.4%

6.1%

6.2%

Age (Female)

0.9%

3.0%

7.8%

5.4%

9.7%
10.4%

3.7%

15.2%

8.3%

10.7%

10.2%
16.1%

12.5%
16.6%

Under 18
35-39
55-59

19-24
40-44
Over 60

11.5%

11.3%

25-29
45-49
Unknown

9.1%

30-34
50-54

Under 18
35-39
55-59

9.3%

19-24
40-44
Over 60

25-29
45-49
Unknown

30-34
50-54

4Q FY2019 (Oct.-Dec.) Result
2.2%
6.5%

Age (Male)
8.9%

11.5%

8.6%

13.6%

11.8%

12.3%

10.4%

Under 18
35-39
55-59

2.6%

19-24
40-44
Over 60

11.6%

Age (Female)

0.7%

4.2%

4.5%
7.6%
9.2%

5.2%
23.4%

8.2%

17.1%

8.8%

Under 18
25-29
30-34
35-39
45-49
50-54
55-59
Unknown
Copyright(C) 2021 VISION INC. All Rights Reserved.

11.2%

19-24
40-44
Over 60

25-29
45-49
Unknown

30-34
50-54
36

Customer Attributes (Age/Gender)“GLOBAL WiFi” Business

Domestic Use (Except for teleworking, etc.)

4Q FY2020 *Fiscal period(Oct.-Dec.) Result
1.0%

Age

4.9%

0.0%

Gender

1.2%

21.6%

16.7%

57.1%

42.9%
28.4%

26.2%

Under 19

20-29

30-39

40-49

50-59

60-69

Over 70

Unknown

4Q FY2019 *Fiscal period(Oct.-Dec.) Result
5.0%

1.0% Age

0.0%

Male

FemaleGender

1.3%

18.4%

17.7%

44.5%
27.0%

29.7%

Under 19

20-29

30-39

40-49

50-59

60-69

Over 70

Unknown

Copyright(C) 2021 VISION INC. All Rights Reserved.

Male

55.5%

Female37

Customer Attributes (Age/Gender)“GLOBAL WiFi” Business

Domestic Use (Except for teleworking, etc.)

FY2020 *Cumulative period(Jan.-Dec.) Result
0.9%

Age

4.6%
15.6%

0.1%

Gender

1.4%

23.0%

41.1%
28.3%

26.1%

Under 19

20-29

30-39

40-49

50-59

60-69

Over 70

Unknown

FY2019 *Cumulative period(Jan.-Dec.) Result
4.4%

58.9%

0.9% Age

0.1%

Male

FemaleGender

1.5%

19.2%

16.6%

27.1%

45.2%

54.8%

Male

Female30.2%

Under 19

20-29

30-39

40-49

50-59

60-69

Over 70

Unknown

Copyright(C) 2021 VISION INC. All Rights Reserved.

38

Customer Attributes (Age/Gender)“GLOBAL WiFi” Business

Domestic Use (Except for teleworking, etc.)

4Q FY2020 *Fiscal period(Oct.-Dec.) Result 1.2% Age (Male) 0.0%
6.0%
16.9%

Age (Female)

0.9%

3.5%

20.0%

29.4%

25.5%

0.7%

0.0%

16.3%

23.7%

27.0%

1.5%

27.2%

Under 19

20-29

30-39

40-49

Under 19

20-29

30-39

40-49

50-59

60-69

Over 70

Unknown

50-59

60-69

Over 70

Unknown

4Q FY2019 *Fiscal period(Oct.-Dec.) Result 1.2% Age (Male)
5.9%
18.0%

0.0%
1.0%

0.7%Age (Female) 0.0%
3.8%
1.6%

18.2%

17.3%

18.8%

26.9%

27.0%

30.9%

28.7%

Under 19

20-29

30-39

40-49

Under 19

20-29

30-39

40-49

50-59

60-69

Over 70

Unknown

50-59

60-69

Over 70

Unknown

Copyright(C) 2021 VISION INC. All Rights Reserved.

39

Customer Attributes (Age/Gender)“GLOBAL WiFi” Business

Domestic Use (Except for teleworking, etc.)

FY2020 *Cumulative period
Age (Male)(Jan.-Dec.) Result
0.0%
1.1%
5.5%
15.9%

22.5%

25.0%

28.7%

1.2%

Age (Female) 0.1%

0.6%

1.6%

3.3%
15.3%

27.8%

23.6%

27.7%

Under 19

20-29

30-39

40-49

Under 19

20-29

30-39

40-49

50-59

60-69

Over 70

Unknown

50-59

60-69

Over 70

Unknown

FY2019 *Cumulative period(Jan.-Dec.) Result 1.2% Age (Male)

0.1%

5.3%
16.6%

1.3%

0.6%Age (Female) 0.1%
1.7%
3.3%

19.8%

16.7%

27.2%

32.2%

28.5%

18.5%

26.9%

Under 19

20-29

30-39

40-49

Under 19

20-29

30-39

40-49

50-59

60-69

Over 70

Unknown

50-59

60-69

Over 70

Unknown

Copyright(C) 2021 VISION INC. All Rights Reserved.

40

To Contribute to the Global Information andCommunications Revolution

Copyright(C) 2021 VISION INC. All Rights Reserved.

41

Notes on the Future Outlook
Materials and information provided in this announcement include so-called “forward-looking
statements.”
They are estimated at the present and are based on the assumption that involves forecasts
and risks, and substantially they include uncertainties which could cause different results fromthese statements.
These risks and uncertainties include general industry and market conditions, and generaldomestic and international economic conditions, such as interest rates and currency exchange
fluctuations.
In the future, even if there is new information or future events etc., we shall not be obligatedto update and revise the “forward-looking statements” included in this announcement.
Vision Inc.
Contact： Investor Relations Dept.
ir@vision-net.co.jp

Copyright(C) 2021 VISION INC. All Rights Reserved.

42