First quarter of the fiscal year ending March 31, 2025
August 14, 2024

Contents
1. Company Overview
2. Business Overview
3. Business Features and Advantages
4. Fiscal Year Ending March 2025, on the Q1 Results and Forecast
5. Appendix© BlueMeme Group

2

1© BlueMeme Group

Company Overview

Company Overview

BlueMeme’s Philosophy

Create new values, change the norm, evolve the culture
Our company name, BlueMeme, is made up of two words, “Blue”, which derives from themeaning of “shining”, and “Meme”, which means a communicator of information that forms aculture, and expresses our strong philosophy of creating new values to form new cultures,without being bound by conventional norms.

Blue
Shining© BlueMeme Group

Meme

Communicator of informationthat forms a culture

4Company Overview

BlueMeme’s Mission

MissionTo grow corporate competitiveness byleveraging the latest technologies

Maintaining the international competitive strengthof Japanese firms through business transformation
powered by next-generation system development

Company Overview

Company Overview
Name

BlueMeme Co., Ltd.

Headquarters

10F, Nishikicho Trad Square, 3-20 Kanda Nishikicho, Chiyoda-ku, Tokyo

Employees

144 (July 2024)

Main business Digital transformation through low-code agile development methods
Representative Masanori Matsuoka, President & CEO

Began offering Agile On
Demand for OutSystems

Won annual award forlargest number of new
customers*

Listed on the Mother’s
Exchange(now TSE Growth Market)
2024
2023
2022

* At OutSystems InStep APAC 2019

Won Japan’s first OutSystems
Innovation Award

Began low-code
development
business
Business
began

2009

Concluded general sales agency
agreement for Japan with
OutSystems

2021
2020
2019

2018

2017

Capital alliance with Mitsui
Knowledge Industry

2014

Won award for largest number of
new registrations and award forlargest amount of new orders
received*

2013
2012
2011

Named first OutSystemsⓇ
Premier Partner in Asia

Launched low-code
HR training service
Began the Japan’s first OutSystemsⓇ sales* In “OutSystems Announces Partner Award Winners”

Won first award for new sales figures in Japanand annual award for largest number of deals
closed** At OutSystems InStep APAC 2018

© BlueMeme Group

6

Company Overview

Company Overview

BlueMeme Inc.
An IT firm that realizes next-generation
system development using automation
technologies centered on low-code
development

Masanori Matsuoka
President & CEO

Experienced in engineering and consulting withan online securities firm, foreign ERP vendor,
and an international systems vendor.
Launched BlueMeme in 2009. Starting with
consulting on business systems, actively
promoted low-code business-systemdevelopment. Appointed to current post in June2010.

© BlueMeme Group

LocationsTokyo: Kanda-Nishikicho, Chiyoda-ku
Fukuoka: Hakata Ekimae, Hakata-ku, Fukuoka
Kumamoto: Kasuga, Nishi-ku, Kumamoto
Okinawa: Minatogawa, Urasoe

7Company Overview

Management Team
Kuniharu Miyawaki
Director

Director

After working as a consultant for a major thinktank, participated in management of a financial
institution specializing in home lending. Joined
BlueMeme in 2022, where he served as an
Executive Officer and General Manager of theService Design Division before assuming his
current post in June 2023.

Joined BlueMeme in 2010 as a founding member,
after working in development of Java-based
business applications with a major think tank.
Assumed her current post in February 2018 after
serving as General Manager of the Professional
Services Division, Executive Officer/General
Manager of the Corporate Sales Division, andDirector/General Manager of the Corporate Sales
Division.

Wei Zhu

Akira Ishikawa

Joined BlueMeme in 2010 following a career insoftware development with embedded andinternational software vendors. Leads
BlueMeme’s R&D and technology overall as its
architect. Assumed his current post in February
2018 after serving as Executive Officer/General
Manager of the Professional Services Division,and Director/General Manager of theProfessional Services Division.

Joined BlueMeme in 2010 as a founding
member, after working as a consultant for aninternational ERP vendor and an international
consulting firm. Assumed his current post in
October 2020 after serving as General
Manager of the Corporate Sales Division andExecutive Officer/General Manager of theProfessional Services Division.

Director© BlueMeme Group

Mariko Tsujiguchi

Director8

2© BlueMeme Group

Business Overview

Business Overview

BlueMeme’s Main Business: Business System Development Services
 We offer business system development services using low-code, agile development methods to first- and second-tier corporate clients.
 The business systems developed by BlueMeme are centered on systems for business activities, such as sales management, production

management, and inventory management.

 We use our proprietary low-code, agile development methods to secure stable human resources and cut system development costs.

Development
services(engineers)
Low-code
infrastructure(development
tools)© BlueMeme Group

Agile development overfrom one month to several years
From one year to several years
under annual contracts

Client(enterprise)

Agile methods keep development costs down

Low-code methods make it easier to secure
human resources• Reduced risk of failure• JIT development• Requires fewer development tools• Enables system development by small teams• Able to develop the needed IT HR in a short timeframe• Enables in-house development of IT HR

10

Business Overview

Business Flow
General steps of system development in a business firm
Management

Management andbusiness
sections• System operation

Agile development(Engineers)

IT section• Regular feature
upgrades• Verifying system features

Low-code
infrastructure(Software)

Business andIT sections• System design andproduction• Considering system
structure© BlueMeme Group• Purchasing the required
software• Considering system features• Reviewing businessprocesses• Drafting digital businessplans• Considering upgrading older
systems

Agile development(Engineers)

IT section

3-5years(on average)

Low-code
infrastructure(Software)

11

Business Overview

Growth in the Low-Code/No-Code Development Market
 As advances in AI and other technologies make technological revolution a regular occurrence, values are expected to shift toward

technology-centric solutions to social issues.

 Trends

in and projections for the domestic and international low-code/no-code development markets call for market growth ofapproximately 9.4 times through 2030.

751.5

Main social issues• Low GDP in Japan• Shortage of IT human resources

Growth in low-code market
due to responding to societal
changes and changing values

billion yen• Difficulty of corporate IT humanresource training
Changing values• Need to adapt to unpredictable societal
changes• Advances in AI and other technologies
make technological revolution a regularoccurrence

80.0

billion yen

2023

2030

Source: Prepared by BlueMeme based on ITR, “ITR Market View: Low-Code/No-Code Development Market 2024”
Prepared by BlueMeme based on “Low Code Development Platform Market Size & Share” (psmarketresearch.com), converted at USD1 = JPY150© BlueMeme Group12

Business Overview

Positioning in the IT Industry
 Using agile and low-code methods to develop high-quality systems even among high-risk large-scale systems.
 Cutting system development and operation costs through cost-optimized structural designs based on business analysis.

System scale

Development
methodGeneralconsultants

Business analysis
Business design

Serviceprovision

Cost-optimized
structural design

Systemrequirement
definitions

Design andproduction
testing

Operation,
maintenance

Service provision

Waterfall

Major system
integrators

Serviceprovision

Med-large

Low-code, agile
methods
Systemdevelopment firms
dispatchingengineers© BlueMeme Group

Small-med

Waterfall and traditional
agile methods

Service provision

Providing one-stop services related to systemdevelopment

Supportforbringing
in house

Service provision13

3© BlueMeme Group

Business Features and Advantages

Business Features and Advantages

Corporate Priorities in Choosing a Subcontractor for System Development
 Continual business improvement is vital to many firms as well as to be able to adapt to unpredictable social changes.
 Smoothcommunication with engineers who can understand the business is essential to realize business reforms through systemdevelopment.
Keeping down systemdevelopment costs

Smooth communication• Identifying business issues• Understanding complex
business details• Proposing solutions

Under
standing
Requirements of a
subcontractor for
corporate systemdevelopment

Business reform• Use of the latest technologies
such as AI• Shortening development periods• Using digital technologies togenerate revenues© BlueMeme Group

Cost

Technical
abilities• Cutting outsourcing costs• Business growth through systemdevelopment• Continual business reforms andimprovements
Ensuring business
continuity

Adaptability• Swift bug detection and fixes• Adapting to social changes• Bringing development inhouse15

Business Features and Advantages

BlueMeme power of understanding： Communication skills based on extensive development
experience
Information andcommunications

and Management System

Security Services System

Business Support System for StoresTransport

Production and Procurement

HR Management System

Sales Management System for Agents

Warehouse Management System

Master Data Extraction System

Management System

Internal Business System

Notes Replacement

for Purchasing Data Analysis

Deliverables Management System

Tour Information Search System

Customer Management System

Education

Demonstration Experiment

Sales Management System

Service Management System

on Medical Data Management

Contract Management System

Mission Critical System Development

Finance & Insurance

Internal Business System

Order Management System

Internal Management System

Mobile Apps for Internal Business System

Construction

Service Monitoring System

Business Support System for Partners

Purchasing System

Internal Business System

Order and Supply System for AgentsBusiness Support System for Agents

Monitoring System

Support System for Internal Approval

Shipment Management System

Processes

VR Content Management System

Budget Management System

Cost Management System

Notes Replacement (groupware)

Access Control System

Legacy System Migration

Training Attendance Management System

Portal Site for agencies
Notes Replacement (groupware)

Building Construction Management System

Sales Support System

Notes Replacement (groupware)

Healthcare / Welfare

Budget Control Daily Report System
Cost Settlement System

Medical Information Platform

Internal Approval Management System

Real Estate

Internal Business System

Internal Business System

Car Park Management System

Web portal for AgentsAccident Prevention Support System

Contract Management System

Product Information Management System

Trading

Production Management System

Tenant Management System

Master Data Management System

Booking Management System

Task Management Portal System

Sales Management System for Agents

Sales Management System

Crowdsourcing Platform

Cloud Migration of Excel / AccessInternal Workflow System

Cloud-based Sales Management System

Asset Management System

Notes Replacement

Sales Management System for Agents

Incident Management System

Customer Management System

Contract Management System (internet etc.)

Master Data Management System

IC card Stock Control System

Service / Hospitality

F&B / Wholesale / RetailInternal Business System
Personnel Evaluation System
Sales Management System
Internal Approval System
Order Management System
Fleet Management System

Manufacture
Production Process Forecasting© BlueMeme Group

Temporary Work Management System
Temporary Staff Management System
Sales Management System
Mobile Apps for Customer
Customer and Employee Management System
Crowdsourcing Platform
Validation of New IoT Service
Service Matching System

Sales Management System for E-commerce
Websites
Simple BI Tools using Data from Various DBs
Employee Management System
Order Management System

Visitor Survey Application
Online Lecture Systems

Information / Advertising
Sales Management System

Agriculture / Forestry /Fisheries
Sales Management System

Government / Local
authorities
System Replacement

Billing System
Procurement Management System
Project Management System
Knowledge Data Management System
Mission Critical System
Internal Groupware System
Brokerage and Property Management System

Professional services(accountancy firm)
Business Matchmaking System
Management Portal System

Internal Business System

Infrastructures

Reconstruction of the Mission Critical System

Monitoring Systems

HR Information Integration Platform

Internal Business System

Project Management System

Sales Management System

Know-how based on
extensive
development experience
independent of industries
and business sectors

16

Business Features and Advantages

BlueMeme’s Technological Abilities: A Global Low-Code Leader
 It is predicted that about 60% of future business system development will be low-code as low-code demand grows worldwide.
 Large-scale low-code system development requires different methods and technological abilities than traditional system development.

Clients

601

Development services
provided

4,190

BlueMeme was named the first OutSystemsⓇ
Premier Partner in Asia
• The highest level among OutSystems® partners• Awarded only to firms with high technologicalabilities• Reflects assessment of product planning abilities
in addition to technological abilities

Customer Reviews

1

2

3

4

1

2

3

4

* As of May 2024
© BlueMeme Group17

Business Features and Advantages

BlueMeme’s Cost Performance: Keeping Down Development Costs through Maximum Use of
Low-Code Methods
 BlueMeme can more than double development productivity by using its proprietary low-code, agile development methods.
 Low-code methods greatly reduce the number of engineers needed in system development by automating programming.

Traditional
development

Businessanalysis

Requirement
definitions

Basic design

Detailed
designLow-code methods can reduce the number ofengineers needed
Low-codedevelopment© BlueMeme Group

Production

By using our proprietary low-code,
agile development methods:
Doubling
productivity

Businessanalysis

Requirement
definitions

Design,production

TestingHalving the testing workload throughimproved quality

Testing18

Business Features and Advantages

BlueMeme’s Adaptability: Prompt Service through Development of In-house Development
Teams at Clients
 Swift bug fixes and feature additions require the forming of in-house teams able to conduct system development at the client.
 BlueMeme’s development services support development of in-house teams by providing business-system development expertise.

Traditional system development:Interaction with development subcontractors tends to take a long time
Longer-term interaction

Considerationof revisions byclientQuote
preparation by
vendorOrder placedwith vendor

Requirement
definitions byvendorDesign by
vendorProduction by
vendorTesting by
vendorAcceptancetesting by
clientReleaseBuilding an in-house team using BlueMeme’s development services
Enables swift handling with no need for troublesome contractual processing
Considerationof revisions© BlueMeme Group

Production andacceptance testing

Release19

Business Features and Advantages

Barriers to Entry in the Low-Code Market
 BlueMeme was the first to introduce OutSystems’ low-code technologies in Japan and is a leader in the low-code market for large-scale

systems.

 Low-code, agile development methods enable large-scale system development, which is difficult with ordinary agile methods, and bringing

development in-house.

BlueMeme’s proprietary
low-code, agile development methods

Performance of official OutSystems sales agentsin Japan

12 years
A

6

B

5

C

5

D

4

E

4

F

© BlueMeme Group3

We have the best
technological abilities
and expertise in Asia

Building in-houseteams by providing
the client withexpertise

Bringing
development
in house

AGILE-DX

Maximizing
productivity throughspecialized low-code
methods

Low-code, agile method
Large-scale
development isdifficult with ordinary
agile methods

Realizinglarge-scale
systemdevelopment

Keeping
down
unnecessary
investment

20

Business Features and Advantages

Illustration of Revenue Structure We still are in the investment phase, promoting development of digital-labor technologies capable of further reducing the number ofengineers needed for system development.

 In the recovery phase, we will leverage digital labor technologies to keep down cost increases while growing sales through increased

indirect sales via partnerships.

Recovery phase

Investment phase

Net sales

Began offering new development services
using digital-labor technologies

Operating income

SGA

Cost of sales
FY 2023/3© BlueMeme GroupFY 2024/3

FY 2025/3

FY 2026/3

FY 2027/3

FY 2028/3

21

4© BlueMeme GroupFY 2025/3 Q1 Business Results and Forecasts

Fiscal Year Ending March 2025, on the Q1 Results and Forecast

FY 2025/3 Q1 Consolidated Results: Highlights
Net sales decreased by 15.8% from the previous period primarily because of the effects of a rush in demand for licenses at the end of theprevious period and a decrease from revisions to past fiscal years’ results.

The balance of orders received at the end of June 2024 also decreased because of the effects of revisions to past fiscal years’ results tosettle at 490 million yen.

FY2025/3
Q1

FY2025/3
plannedYoY change

Ending balanceof ordersreceived

0.49 billion yen

0.9 billion yen

92.9%

-

Net sales

0.51 billion yen

3.1 billion yen

84.2%

16.7%

Pro forma
EBITDA
Operatingincome© BlueMeme Group

Progress

Conditions in this quarter• Q1 orders received were bearish due in part to the effects of
OutSystems license price hikes• While performance on pro forma EBITDA was bearish, likethat for sales and operating income, research expenses for
digital labor and other subjects was reduced as planned
Future growth potential

0.01 billion yen-0.04 billion yen

0.42 billion yen
0.25 billion yen

13.4%-53.8%

3.5%-• Commencement of adoption of practical digital labor
solutions• Lengthening of period until receipt of orders due to growth inlarge-scale projects

23Fiscal Year Ending March 2025, on the Q1 Results and Forecast

Q1 Consolidated Results: Analysis of Changes in Operating IncomeWhile SGA related to personnel costs and business development costs was reduced as initially planned, profit decreased as
sales were only 84.2% of the figure in the previous period.

YoY change in operating income

Analysis of Changes in Q1 Operating Income

Million yen

Net sales

FY2024/3
Q1

FY 2025/3
Q1

ChangeYoYchange

613

516

-97

-15.8%

Sales-97

Operating income

77

-41

-118

-153.8%

Ordinary income

78

-47

-125

-160.2%

Net income

45

Note: Figures are rounded down to the nearest million yen.

© BlueMeme Group

-49

-95

-209.5%

77

Costs Personnel

31

FY 2024/3
Q1 operating
income-41

Businessdevelopm
ent

-11

-41

FY 2025/3
Q1 operating
income24

Fiscal Year Ending March 2025, on the Q1 Results and Forecast

Explanation of Q1 Business Results and Future Forecasts
Net sales decreased YoY primarily because of the effects of a rush in demand for licenses at the end of the previous period and adecrease from revisions to past fiscal years’ results



The Q1 ending balance of orders received was down 7% YoY as the receipt of orders weakened in Q1. Efforts are underway tostrengthen marketing activities.



The main cause was a lengthening of period until receipt of orders due to the effects of growth in large-scale projects.

Digital labor has been adopted in practical projects, and currently, we are examining the results.

Million yen

FY2024/3
Q1

FY 2025/3
Q1

ChangeYoY change

Licenses

118

60

-57

-49.0%

Services and training

495

456

-39

-7.9%

Note: Figures are rounded down to the nearest million yen.

© BlueMeme Group25

Fiscal Year Ending March 2025, on the Q1 Results and Forecast

Full-Year Forecasts
 Because of the change in revenue-recognition standards, some transactions planned for recording as sales in FY 2025/3 and later havebeen recorded in past years. However, we will continue to aim for net sales of 3.1 billion yen in FY 2025/3.

 We will continue strategic investment to achieve the goals of the Medium-Term Management Plan, and we project Operating income levels

largely unchanged from the previous period.

Million yen

FY 2024/3 full-year
cumulative

FY 2025/3 full-year
forecast＊ Reference:
YoY change

2,506

3,100

23.7%

Operating income

253

250

-1.2%

Ordinary income

254

250

-1.9%

Net income

174

200

14.4%

Net sales

Note: Figures are rounded down to the nearest million yen.

© BlueMeme Group26

5© BlueMeme GroupAppendixAppendix

Development of business systems enters an era of “zero engineers”
Multi-cloud, multi-low-code development

Development requiring no engineers
Cloud base, multi-device compatibility

Low-code development
Web base, open architecture

Engineers

Open-source development

Agile

Engineers

Programmers© BlueMeme Group

System users

Agile

Digital labor

Low-code,
no-codeMulti-low-code,
multi-no-code28Appendix

Strategy on human resources core to the growth vision
From the system-development domain to the consulting domain to contribute to customer firms’ business strategies
Low-code training
3-6 months

Application design© BlueMeme Group

Able to develop businesssystems by specializing in
use of low-code technologies

Business architects

Agile management

Able to train within the Group thehuman resources needed in businessthrough a training structure that starts
from a clean slate

Low-code IT HR

Business structuring

Agile mindset

Those with business experiencein other fields, including music
and art, and those fromhumanities fields

Low-code development

Non-IT HR

Business architect training
6-18 months

Design expertise (modeling data)

Next-generation engineers using
solutions such as digital labor and AI
in development

Digital labor29

Appendix

Ability to use digital labor to reduce the HR requirements for growing sales
 Growth in development service sales requires increasing numbers of technical personnel and growing their productivity per person.
 Digital labor can grow sales by increasing productivity per person’s productivity per person.

Illustration of service sales using
technical personnel and digital labor
Digital labor

Increasing productivity perperson’s productivity per personusing digital labor

Illustration of service sales bytechnical personnel alone

Technical
personnel
Notes:
Business growth rates estimate differences in rates of growth from use of technologies such as digital labor and AI compared to previous forecasts
At a minimum, the domestic low-code/no-code development market is expected to grow at least ninefold by 2030
© BlueMeme Group30

Appendix

Digital labor is an intermediary between technical personnel and technologies of AI and lowcode development
 BlueMeme’s digital labor is intended to enable technical personnel to use technologies of AI and low-code development efficiently.
 It aims for more productive system development while reducing learning costs, so that technical personnel can get the most fromtechnologies of AI and low-code development efficiently.

Digital labor supports system development using various technologies of generative AI
and low-code development, on technical personnel’s behalf
Linguistic analysis and statisticalalgorithms

Automation of tasks such as
business analysis andrequirement definitions

Generative AI using large
language modeling
Diverse low-code development
infrastructure
Engineers

Digitallabor

Automation of application
development

Diverse database infrastructure
Diverse cloud infrastructure© BlueMeme Group31

Appendix

Stages of digital labor development

Current location of development progress
Underdevelopment

In useAble to automate work
patterned based on
application design
information

LEVEL 0Able to generate
automatically data
entities and basic APIs
based on application
design information

LEVEL 1

Able to generate
automatically data
entities, APIs,
standard images, test
cases, and test data
based on application
design information

LEVEL 2

Low-code engineer-led development
Technology-centered development© BlueMeme Group

PlannedAble to generate basic
forms of basic
applications fromstructured businessinformation
automatically basedon various businesspatterns

Able to develop entire
applications
automatically in multicloud and multi-lowcode environments, bydefining requirements
using natural language

LEVEL 4LEVEL 5Business-architect-led development

User-leddevelopment

Able to support
business analysis
associated withbusiness structuring
and to support
automatic detection
and analysis of
structural issues inbusiness processes
and rules

LEVEL 3aBusiness-model-centered app development

32

Appendix

Medium-Term Management Plan KPI-based Growth Scenarios
 We plan a CAGR of 28％ in sales through FY 2026/3, by promoting digital labor development.
 In FY 2027/3 and beyond, we plan a CAGR of up to 56％ in sales, through full-fledged application of digital labor and growing thepartnership business.

FY 2024/3

Net sales

2.50

Average annual
growth rate
CAGR

27.9%

billion yen

FY 2026/3

Pro forma EBITDA

4.10

billion yen

CAGR

Operatingincome

0.25

90.8%

billion yen

0.92

billion yen

CAGR

Pro forma
EBITDA

0.53

billion yen

48.8%

1.19

billion yen

PretaxincomeExtraordinarygains/lossesInterest
paid

R&D
expenses

Depreci
ation
EBITDA

Personnel
expenses
Pro
forma
EBITDAPro forma EBITDA is an indicator of the effective profit level of BlueMeme’s IT service
delivery business, calculated by adding to pretax income extraordinary gains/losses,
interest paid, and depreciation, as well as R&D costs that include those of digital labor
development and costs of hiring and training engineers.

*There is no impact on the medium-term management plan due to changes in accounting procedures or corrections to prior periods’ financial statements.

© BlueMeme Group33

Appendix

Medium-Term Management Plan Growth Scenarios
 We expect considerable growth in productivity through automation of software development using digital labor. We plan operating incomeof 920 million yen in FY 2026/3.

 We expect sales to grow through changes to the revenue structure as a result of digital labor as well as indirect sales. We plan sales of

10.0 billion yen in FY 2028/3.

10.0

billion yen

Projected net sales

Net sales

Projected operating income

Operating income

CAGR：

56.2%
6.2

billion yen

4.1

1.52

billion yen*

1.94

billion yen

2.29

billion yen

2.50

3.1

CAGR：

billion yen

0.92

billion yen

90.8%

billion yen

billion yen

0.37

billion yen

0.36

billion yen

0.25

0.25

billion yen

billion yen

FY 2024/3

FY 2025/3

N.A
FY 2021/3

FY 2022/3

FY 2023/3

FY 2024/3

FY 2025/3

FY 2026/3

FY 2027/3

FY 2028/3* Net sales after application of the Accounting Standard on Revenue Recognition (new standard) in FY 2021/3
have not been reviewed by the audit firm and are for refence only.

FY 2021/3

FY 2022/3

FY 2023/3

FY 2026/3* Operating income after application of the Accounting Standard on Revenue Recognition (newstandard) in FY 2021/3 is not disclosed because it is difficult to estimate.
* FY2025/3 forecast revised from 330 million yen to 250 million yen since profit is expected tobe largely unchanged YoY due to strategic investment to achieve the goals of the MediumTerm Management Plan

© BlueMeme Group34

Appendix

Medium-Term Management Plan Growth Scenarios (Based on KPIs)
 We have chosen pro forma EBITDA* as a KPI in light of forward-looking investment in R&D on digital labor.
 We have transferred from the previous revenue model based on work ordered to a revenue model based on volume of digital labor

applications generated.

 Because of the change in contracting rate models, the interval from receipt of orders to recording of sales has lengthened. As a result, wehave identified the balance of orders received as a KPI.

Investment

Investment + recovery

Recovery

10.0

billion yen

6.2

billion yen

29%
Pro forma
EBITDA margin
Consolidated
operating profit
martin

21.4%

10.1%

FY 2024/3

18%

2.50
billion yen

22%

Projected sales

0.60
Projected balance billion yen

8%
FY 2025/3

3.1

FY 2027/3

FY 2028/3

FY 2024/3

5.43

billion yen

billion yen

0.90

billion yenof orders received
FY 2026/3

4.1

billion yen

3.51

1.80

billion yen

billion yen
FY 2025/3

FY 2026/3

FY 2027/3

FY 2028/3* Pro forma EBITDA is an indicator of the effective profit level of BlueMeme’s IT service delivery business, calculated by adding to pretax income extraordinary gains/losses, interest paid, and depreciation, as well as R&D costs including
those of digital labor development and costs of hiring and training engineers.
* Indicators have been changed to net sales, operating profit margin, pro forma EBITDA, and balance of orders received because of the change in growth management KPIs associated with formulation of the Medium-Term Management
Plan.
© BlueMeme Group35