IR activities
The Company holds two earnings briefings each year (for the 2nd and 4th quarters) for analysts
and institutional investors. Videos of the earnings briefings are provided on the website, etc.
The Company endeavors to provide important information to overseas institutional investors in
English in a timely manner.

FY 2022

FY 2023

One on One※

JapanOverseas

Total

One on One※

JapanOverseas

Total

First Half

24

327

First Half

23

124

Second Half

32

1344

Second Half

42

951

Total

56

1672

Total

65

1075

※Excludes inquiries by phone and email
One on One : analysts (sell-side/buy-side), fundmanagers, etc.

※Excludes inquiries by phone and email
One on One : analysts (sell-side/buy-side), fundmanagers, etc.

©2024 MIRAIT ONE Corporation All Rights Reserved | 1

Financial results briefing for analysts

２Q

event date

Nov 18, 2022

participant36

archive viewer

４Q

Japan：378
May 19, 2023

participant

31

Second half

event date

Nov 17, 2023

participant

32

archive viewer

Japan：647

overseas： 59※２Q archive viewers as of April 30, 2024

Japan：609※For details on the day, please refer tothe video materials released on our website.
Video materials：

overseas：58

https://c-hotline.net/Viewer/Default/4082f313c53f1fa32d6b080cd58fc52bcb8aBriefing session for individual investors

First half

２Q

overseas：51

event datearchive viewer

Financial results briefing for analysts

event date

Sep 21, 2022

participant914

archive viewer

Briefing session for individual investors

event date

Sep 21, 2023

participant

840

749

archive viewer

349

event dateMar 24,2023

event dateMar 22,2024

participant

961

participant800

archive viewer

550

Archive viewer

397

First half

Second half

※as of April 30, 2024

©2024 MIRAIT ONE Corporation All Rights Reserved | 2

Dialogue Interests
Through dialogue with investors, we receive views and questions on various themes such as
business performance, medium-term management plans, and business trends.

➀Summary
２Q FY2023（Ｏctober 2023 ～ December 2023）
theme

performance andevaluation

opinions and questions
・ Evaluation of 2Q financial results and outlook for this fiscal year
‐Progress evaluation against full-year plan
‐Reason for decrease in SG&A
‐Unprofitable projects (causes and countermeasures, expansion risks, recovery
plans, impact on sales and construction activities)‐Reasons for changes in planned amounts by business segment (orders received,sales, gross profit)・ Current order status
・ Impact of external environmental factors (rising material and energy costs,logistics disruptions, exchange rate fluctuations, etc.)©2024 MIRAIT ONE Corporation All Rights Reserved | 3

themeopinions and questions

・ Progress status of medium-term management plan goals
・ M&A strategy‐Making Kokusai Kogyo a subsidiary (business, aims, synergies, profit
contribution outlook, etc.)‐Future targets

Medium-term
management plan・ Works and progress towards improving profitability‐Reorganization of subsidiaries in the NTT business（aims、expected effect）‐Certainty of achieving operating income forecast, issues
・ Growth Strategy from the B/S Perspective‐Concept of “Cash Allocation Plan (2023-2026)”‐View of debt financing capacity‐Reason for making EBITDA (amount, ratio) a KPI・ Shareholder returns‐Background of the target range for total return ratio (50% ～ 70%)
‐Possibility of additional shareholder returns (expansion of share buyback limit,dividend increase) this fiscal year
・ Current order status

MIRAI(future)
domains・ Profitability (current profitability of green energy business, software business, global business,
future outlook)

・ Making Kokusai Kogyo a subsidiary (specific areas of collaboration, expected
profit contribution)©2024 MIRAIT ONE Corporation All Rights Reserved | 4themeopinions and questions

Environmental andSocial innovation

・ Evaluation of 2Q financial results and outlook for this fiscal year
‐Impact of unprofitable projects - Profit status (excluding unprofitable projects)‐Profit improvement: Probability of achieving full-year profit (ratio) plan, outlook
for next fiscal year and beyond‐Factors behind strong orders‐EV charger installation project status

ICT solution

・ Evaluation of 2Q financial results and outlook for this fiscal year
‐Impact of unprofitable projects - Profit status (excluding unprofitable projects)‐Profit improvement: Probability of achieving full-year profit (ratio) plan, outlook
for next fiscal year and beyond‐Current status of global business‐Current status of sales of goods

Telecommunications
infrastructure domain

・ Evaluation of 2Q financial results and outlook for this fiscal year
‐Overall status, status and outlook by each carrier‐Reasons for improvement in profit margin and sustainability‐Current status of NTT Mobile business‐Rakuten business outlook©2024 MIRAIT ONE Corporation All Rights Reserved | 5

3Q FY2023（January 2024 ～ March 2024）
theme

performance andevaluation

opinions and questions
・ Evaluation of 3Q financial results and outlook for this fiscal year
‐Factors for revision of Financial Results Forecast (unprofitable projects)：
Occurrence factor、Expansion risk、Measures to strengthen risk management‐Achievement accuracy、Impact on dividends
・ Current order status
・ SG&A status
・ Concept of next year's plan
(Possibility of unprofitability reoccurring、Impact of Kokusai Kogyo joining the group)

・ Progress and evaluation of medium-term management plan
・ M&A strategy‐Making Kokusai Kogyo a subsidiary(business, aims, synergies, profit contribution outlook、validity of acquisition price、
funding policy、goodwill amount、PMI issues)‐Future targets
Medium-term
management plan
Business strategy

・ “Growth Strategy from the B/S Perspective”‐Concept of Cash allocation plan‐Concept of Equity capital (amount, ratio)・ Shareholder return policy‐Concept of cancellation/acquisition of treasury stock・ Human capital growth strategy
ーHuman resource development・Progress in human resource flow、Employee reactionー・ Response to the construction industry “2024 problem”、
Change of employee wages、Recruitment status
・ ESG initiatives(Reduction of GHG、Promotion of Women's Participation and Advancement 、Diversity of executives, etc.)©2024 MIRAIT ONE Corporation All Rights Reserved | 6themeMIRAI(future)
domains

opinions and questions
・ Current order status
・ Profitability (current profitability of green energy business, software business,global business, future outlook)

Environmental andSocial innovation

・ Evaluation of 3Q financial results and outlook for this fiscal year
‐Impact of unprofitable projects、Measures to prevent recurrence‐Profit improvement：Achievement accuracy of full-year plan values、Outlook for next fiscal year and future、Contribution to profits by making Kokusai Kogyo a subsidiary‐Factors behind strong orders

ICT solution

・ Evaluation of 3Q financial results and outlook for this fiscal year
‐Impact of unprofitable projects、Measures to prevent recurrence‐Profit improvement：Achievement accuracy of full-year plan values、Outlook for next fiscal year and future-Current status of global business-Current status of data center businessTelecommunications
infrastructure domain

・ Evaluation of 3Q financial results and outlook for this fiscal year
‐Reasons for improvement in profit margin and sustainability‐Topics that can increase orders in the future (６G、IOWN)
・ Reorganization of access related subsidiaries in the NTT business©2024 MIRAIT ONE Corporation All Rights Reserved | 7

②Questions at Financial results briefing for analysts
May 19, 2023
questions・ How do you improve the profitability of environmental and social and ICT solutions?
Ｑ１

Ｑ２

Ｑ３

・ Regarding synergies with SEIBU CONSTRUCTION, what has already been done and what will bedone in the future.
・ In what fields will you expand orders for the environmental and social?
・ In which Areas will you specifically trying to grow your renewable energy business.
・ A timeline image of backcasting from the net sales plan set for fiscal 2026 for the three areas
you will focus on this fiscal year (1) green energy, (2) urban and regional development, and (3)expansion of the carrier business field.
・ What you are struggling with and what you are trying to do when planning the flow of humanresources to growth fields.

©2024 MIRAIT ONE Corporation All Rights Reserved | 8

November 17, 2023
questions・ Background and aims of Kokusai Kogyo's M&A.
Ｑ１

Ｑ２

・ Reorganization of access related subsidiaries in the NTT business.
-Why this timing? When do you expect the effect to be and to what extent?
・ Is it correct to understand that the assets of the "Urban and regional Development"
business have reached their potential through this M&A?

・ About the “Beyond a Telecommunications Construction Company” business vision for 2030.
・ "Cash Allocation" Plan: Concept of free cash flow from business and shareholder returns.

Ｑ３・ Profitability of non-carrier business (current evaluation and future outlook)・ What is the difference between Kokusai Kogyo's previous shareholders and our company?
(What are the strengths of our company as a new shareholder?)Ｑ４・ Gross profit in Telecommunications infrastructure domain(reasons for improved 2Q results, full-year outlook).
・ Current status of SEIBU CONSTRUCTION.

©2024 MIRAIT ONE Corporation All Rights Reserved | 9

③Questions at Briefing session for individual investors
September 21, 2023
questionsＱ１・ Orders seem to be better than previous fiscal year, but is it safe to assume that businessperformance has completely turned to a recovery trend?

Ｑ２・ Do you have any concrete thoughts on measures to prevent the PBR from falling below 1x as
requested by the TSE?

Ｑ３

・ I would like to know diversity in human capitals, particularly the progress made in promoting
the activities of women.

Ｑ４・ Will the stock benefit system continue?

Ｑ５・ What kind of effects were achieved with TV advertising? Do you have any targets for what you
will do in the future?

©2024 MIRAIT ONE Corporation All Rights Reserved | 10

March 22, 2024
questions
Ｑ１
Ｑ２

Ｑ３

・ PBR is below 1x, how do you plan to improve it?
・ What kind of business does Kokusai Kogyo, a new subsidiary, do?
What was the background and purpose of the M&A?
・ How is the company responding to the 2024 Noto Peninsula earthquake that occurred on New
Year’s Day?
Also, will it have any impact on business?

Ｑ４・ Net sales have been increasing year by year since FY2019, but operating income has declined
considerably after peaking in FY2021.
I would like to know the cause and concrete improvement measures.

©2024 MIRAIT ONE Corporation All Rights Reserved | 11

Feedback to management
We regularly provide feedback on IR implementation status, investor interests, and views tosenior management at Group Presidents’ Counci and Board of Directors.

Main measures①Setting medium-term management plan goals
・ In order to further strengthen shareholder returns, from fiscal 2022, we will adopt a policyof “stable dividend growth” and “flexible share buybacks.”
In addition, the KPI for the total return ratio has been raised from the conventional “30% ormore" to "50% level".
Furthermore, in November 2023, we will continue to follow our basic policy and, in order toclarify the linkage between investment in growth and shareholder returns, we will redefine
our total return ratio “50% ～ 70%” target range and strive to strengthen the return.
In order to promote management that incorporates the perspective of shareholders, we haveset ROE and EPS growth rates as management targets in the 5th Medium-Term ManagementPlan.
Furthermore, in November 2023, Since we expect to incur a certain amount of amortizationof goodwill as a result of M&A, we intend to closely follow EBITDA (amount, ratio) , anindicator of cash-generating capacity, as a KPI in the future.
©2024 MIRAIT ONE Corporation All Rights Reserved | 12

②Disclosure of gross profit and gross profit margin bybusiness segment
・ From fiscal 2022, we had disclose gross profit and gross profit margins by business segment
in order to provide an appropriate understanding of business strategies and business trends.

③Holding business briefings

・ In March 2022, we held an “ICT Solution Business Briefing” to deepen understanding of
new businesses.
・ A total of 21 products and solutions were exhibited at the 14th Japan IT Week Autumn IoTSolutions Exhibition held at Makuhari Messe for three days from October 25th to 27th, 2023.
＜Social infrastructure DX and GX＞▶ Rescue drone▶ Use of Hydrogen for the Development of Future Cities▶ Flood sensor▶ “A water pipe deterioration prediction/impact evaluation/renewal plan formulation
survice”by AI/machine learning algorithms▶ “Photoruction Water” “water pipe construction management system▶ Industrial water IoT solution▶ Smart microgrid system©2024 MIRAIT ONE Corporation All Rights Reserved | 13

＜Corporate/Facility/Store DX and GX＞▶ Off-grid power poles▶ "DX Wi-Fi®"Long distance and broad coverage▶ MIRAIT ONE's network solution▶ Decarbonization parking solutions▶ "mapry"3D measure solution▶ MIRAIT ONE's digital twin accelerates DX▶ Integrated network solution＜Workstyle DX, Lifestyle DX＞▶ "eeTaB*®"MIRAIT ONE DX solution for hotels and restaurants▶ "temi GO"MIRAIT ONE DX solution for hotels and restaurants▶ Electronic shelf tags solution▶ MIRAI Connect▶ Drone schools[national license]▶ “Event DX: Setup Planning Service”reducing event venue setup costs▶ "HerbF®"golf course existing lawnmowers unmanned system[under development]④Video distribution of financial results presentation
・ Since fiscal 2014, we have been streaming Videos or voices of financial results presentation(in Japanese and English) on company web site for analysts and institutional investors whocannot attend financial results briefings.
©2024 MIRAIT ONE Corporation All Rights Reserved | 14