Consolidated Financial Results for the Fiscal Year Ended December 31, 2019
[Japanese GAAP]

February 12, 2020
CompanyVision Inc.
Stock Listing
TSE
Stock Code9416
URL https://www.vision-net.co.jp/
Representative Kenichi Sano, President, Founder & CEO
Contact
Shinichi Nakamoto, Director, Managing Executive Officer CFO
TEL +81-3-5325-0344
Scheduled date of general shareholders’ meeting :March 27, 2020
－Scheduled starting date of dividend payment:
Scheduled date of submission of financial reports :March 30, 2020
Supplementary financial documents:
Yes
Financial results briefing:Yes (for institutional investors and analysts)(Round down to million yen)

1. Consolidated Financial Results for the Fiscal Year Ended December 31, 2019
(January 1, 2019 through December 31, 2019)(1) Consolidated Operating Results(% change from the previous corresponding period)
Sales

Operating profit

Million yen％

FY201927,318FY201821,503(Note) Comprehensive profit ;

27.0
22.5

Net income
per share

Million yen

Net income attributableowners of parent

Recurring profit
Million yen％

Million yen％

3,325
33.8
3,358
34.4
2,48438.9
2,499
39.3
FY2019: 2,215 million yen( 48.1%)FY2018: 1,496 million yen( 21.2%)

Diluted netRecurring
Return on equity
income per shareprofit/Total assets

Yen

Yen％

2,226
1,529％

45.6
26.5

Operatingprofit/Sales％％

FY201946.05
44.49
FY201831.40
30.67(Reference) Equity in net income (losses) of affiliates ;(Note)

21.5
23.4
12.2
16.7
20.0
11.6
FY2019:－ million yen
FY2018:－ million yen
The Company conducted 3-for-1 stock splits on October 1, 2019, based on the resolution of the Board ofDirectors held on August 9, 2019. Net income per share and diluted net income per share were calculated
based on the assumption that these stock splits were conducted at the beginning of the previous
consolidated fiscal year.

(2) Consolidated Financial Position
Total assets

Shareholder’s equity
ratio

Net assets

Million yen

Million yen

FY201915,173
FY201813,552(Reference) Shareholders’ equity ;FY2019:FY2018:

Net assets per shareYen％

10,905
9,803
10,883 million yen
9,781 million yen

71.7
72.2

226.80200.95(3) Consolidated Cash Flow Position
Cash flows fromoperating activities

Cash flows frominvesting activities

Million yen

FY2019FY2018Cash flows fromfinancing activities

Million yen

3,549
2,888

Cash and cash equivalents
at end of period

Million yen(1,435)(1,457)

Million yen(1,164)
(312)

8,485
7,563

2. Dividends
Annual dividend

FY2019FY2018FY2020 (Forecast)End of 1Q

End of 2Q

End of 3Q

Year-end

Yen

Yen

Yen

Yen－－－

0.00
0.00
0.00

0.00
0.00
0.00

－－－―1―

Total
Yen

0.00
0.00
0.00

Total
dividends(Annual)Dividend
Dividends/payout ratio
Net assets(Consolidated) (Consolidated)

Million yen％％－－－－－－－

3. Forecast of Consolidated Financial Results for the Fiscal Year Ending December 2020
(January 1, 2020 through December 31, 2020)
Sales
1Q-2Q FY2020
FY2020Million

15,092
31,396

Operating profit％ Million yen

16.7
14.9

1,885
4,003

(% change from the previous corresponding period)
Net income
Net income per
Recurring profit
attributableshareowners of parent％ Million yen

11.6
20.4

1,887
4,005

―2―％ Million yen

12.8
19.2

1,259
2,674％

17.1
20.1

Yen

26.24
55.73

* Notes(1) Changes in significant subsidiaries during the period:(Changes in specified subsidiaries resulting in changes in scope of consolidation)

None(2) Changes in accounting policies, accounting estimates and restatement① Changes in accounting policies associated with revision of accounting standards :None② Changes in accounting policies other than ①:None③ Changes in accounting estimates:

None④ Restatement:

None(3) Shares issued (common stock)① Shares issued as of term-end (incl. Treasury stock)

FY201949,027,200

FY201848,987,000② Treasury stock as of term-end

FY20191,039,044

FY2018308,544③ Average number of shares outstanding

FY201948,340,716

FY201848,711,931(Note)The Company conducted 3-for-1 stock splits on October 1, 2019, based on the resolution of the Board ofDirectors held on August 9, 2019. The number of shares issued was calculated based on the assumptionthat these stock splits were conducted at the beginning of the previous consolidated fiscal year.

(Reference) Overview of Non-consolidated Financial Results
Non-consolidated Financial Results for the Fiscal Year Ended December 31, 2019
(January 1, 2019 through December 31, 2019)(1) Non-consolidated Results of Operations
SalesFY2019
FY2018Million yen

25,442
20,373(% change from the previous corresponding period)

Operating profit
％

24.9
22.5

Net income per share

Million yen

Recurring profit
％

2,948
2,203

33.8
49.1

Million yen

3,046
2,244

Net income％

35.7
47.4

Million yen

2,041
1,403％

45.4
36.1

Diluted net income
per share

Yen

Yen

FY201942.24
40.80
FY201828.82
28.15(Note) The Company conducted 3-for-1 stock splits on October 1, 2019, based on the resolution of the Board ofDirectors held on August 9, 2019. Net income per share and diluted net income per share were calculated
based on the assumption that these stock splits were conducted at the beginning of the previous
consolidated fiscal year.

(2) Non-consolidated Financial Position
Total assets
Million yen

Net assets

FY201914,214FY2018
12,775(Reference) Shareholders’ equity ;FY2019:FY2018:Million yen

Shareholder’s equity
ratio

10,0589,120
10,037 million yen
9,099 million yen％

70.6
71.2

Net assets per shareYen

209.16186.92* This report is not subject to audit procedures by certified public accountants or audit firm.
* Explanation for appropriate use of forecasts and other notes

The forward-looking statements such as operational forecasts contained in this statements summary are based
in information currently available to the Company and certain assumptions which are regarded as legitimate.
Actual results may differ from such forward-looking statements for a variety of reasons.

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