Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated
document and the Japanese original, the original shall prevail.

Consolidated Financial Results
for the First Quarter of the Fiscal Year Ending March 31, 2025
[Japanese GAAP]
July 31, 2024
Company name: INFOCOM CORPORATION
Listing: Tokyo
Securities code: 4348
URL: https://www.infocom.co.jp/Representative: Jun Kuroda
President and CEO
Inquiries: Hiroshi Imafuku
Head of Corporate Communications OfficeTelephone: +81-3-6866-3160
Scheduled date to commence dividend payments: Preparation of supplementary material on financial results: Yes
Holding of financial results briefing: None(Yen amounts are rounded down to millions, unless otherwise noted.)
1. Consolidated Financial Results for the Three Months Ended June 30, 2024 (April 1, 2024 to June 30, 2024)(1) Consolidated Operating Results(Percentages indicate year-on-year changes.)
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%Three months ended
June 30, 202420,862
10.8
1,282(29.3)
1,311(29.5)
831(32.5)
June 30, 2023
18,8241,814
1,860
1,231(Note) Comprehensive income:Three months ended June 30, 2024:¥
849 million [(37.3) %]Three months ended June 30, 2023:¥
1,355 million [-%]
Basic earnings
per share

Diluted earnings pershare

Yen
Yen
Three months ended
June 30, 2024
15.14
15.09
June 30, 2023
22.48
22.38
(Note) Figures for the first quarter of FY03/24 have been adjusted retroactively to reflect the changes in translation method of revenuesand expenses of overseas subsidiaries applied from the first quarter of FY03/25.Consequently, the rate of increase/decrease compared tothe same quarter of the previous year is not stated for the first quarter of FY03/24.

(2) Consolidated Financial Position
Total assets
As ofJune 30, 2024
March 31, 2024
(Reference) Equity:

Millions of yen

Net assets
Millions of yen

64,966
67,324As of June 30, 2024:
As of March 31, 2024:

Capital adequacy ratio¥¥―1―48,437
49,15848,130 million
48,761 million

%74.1
72.4

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2024

-18.00-27.0045.00

Fiscal year ending March 31, 2025

0.00

-0.00

0.00

Fiscal year ending March 31, 2025
(Forecast)(Note) Revision to the forecast for dividends announced most recently:

Year-end

Total

None

As announced in the "Notice regarding the Revision of Dividend Forecast (No Dividend) and the Abolition of the Shareholder Benefit
Program for the Fiscal Year Ending March 2025" published on June 18, 2024, our company has decided not to pay dividends for thefiscal year ending March 2025.
3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2025(April 1, 2024 to March 31, 2025)(Percentages indicate year-on-year changes.)
Profit attributable
Basic earnings
Net sales
Operating profit
Ordinary profit
to owners ofper shareparentMillions of yen% Millions of yen% Millions of yen

Six months ending
44,500
11.1
4,300
2.9
September 30, 2024
Full year
94,00011.3
11,00012.4(Note) Revision to the financial results forecast announced most recently:* Notes:(1) Significant changes in the scope of consolidation during the period:
Newly included:(Company name:Excluded:(Company name:% Millions of yen%Yen

4,300

1.5

2,900

2.7

52.87

11,000
None

11.2

7,300

10.4

133.09None(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: None
(3) Changes in accounting policies, changes in accounting estimates, and restatement
1) Changes in accounting policies due to revisions to accounting standards and other regulations: None
2) Changes in accounting policies due to other reasons: Yes
3) Changes in accounting estimates: None
4) Restatement: None
(4) Number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
June 30, 2024:
57,600,000 shares
March 31, 2024:
57,600,000 shares
2) Number of treasury shares at the end of the period:
June 30, 2024:
2,679,208 shares
March 31, 2024:
2,714,682 shares
3) Average number of shares outstanding during the period:
Three months ended June 30, 2024:
Three months ended June 30, 2023:

54,894,665 shares
54,791,188 shares* Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public
accountants or an audit firm: Yes(voluntary)* Proper use of earnings forecasts, and other special matters―2―))

1. Overview of Business Results for the Quarterly Consolidated Cumulative Period
The summary of the financial position, operating results, and cash flows of our group (the Company and its consolidated subsidiaries)
for the first quarter of the current consolidated cumulative period is as follows.
(1) Explanation of Operating Results
Under the slogan, United Innovation Value Co-Creation and Beyond, the Infocom Group pursues a medium-term management
plan (FY03/23 - FY03/25) based on policies to pursue growth and continue strengthening our management foundation to support
growth.
Under pursue growth, we emphasize contributing solutions to social issues through co-creation, continuing growth and overseas
expansion in E-Comic and Health IT, Continuing evolution into a services-oriented business, and focusing resources in growthareas. Under continue to strengthen our management foundation to support growth, we engage in strengthening human capital,aiming to achieve our financial targets.
The consolidated fiscal quarter under review is the second year of this medium- term plan, we recorded net sales of ¥20,862 million,
up 10.8% year on year, operating profit of ¥1,282 million (down 29.3%), ordinary income of ¥1,311 million (down 29.5%), and profit
attributable to owners of the parent of ¥831 million (down 32.5%). ordinary income of ¥1,311 million (down 29.5%), and profit
attributable to the owners of the parent of ¥831 million (down 32.5%).
The following paragraphs describe our results by segment.
(i) Digital Entertainment Group
Digital Entertainment reported net sales of ¥15,235 million (up 12.8% year on year) and operating income of ¥1,930 million yen (up4.4%) in the first quarter of the current consolidated fiscal year.
The e-comics distribution service maintained double-digit growth, driven by exclusive first-run hit titles.
(ii) Business Solution Group
The Business Solution reported net sales of ¥5,626 million (up 5.7% year on year) and an operating loss of ¥637 million (comparedwith an operating loss of ¥30 million in the year-ago period) for the first quarter of the current consolidated fiscal year.
Sales increased due to firm small- and medium-sized hospitals sales, despite business for large-scale hospitals weighted more in thesecond half of the year.
On the other hand, operating losses increased compared to the year-ago period. This result was mainly due to increased costs stemmingfrom TOB-related expenses and higher personnel expenses resulting from higher compensation levels.
(2) Explanation of financial position
1) Consolidated financial position
Assets at the end of the first quarter of the current fiscal year decreased ¥2,358 million compared with the end of the previous
consolidated fiscal year to ¥64,966 million due to decreases in notes and accounts receivable-trade.
Liabilities decreased ¥1,637 million to ¥16,528 million due to decreases in income taxes payable and provision for bonuses.
Net assets decreased ¥720 million compared with the end of the previous consolidated fiscal year to ¥48,437 million. This result was
mainly due to the posting of profit attributable to owners of the parent, offset in part by a decrease in retained earnings due to dividendpayments.
2) Consolidated cash flows
Cash and cash equivalents at the end of the first quarter of the current fiscal year amounted to ¥37,425 million, down ¥462 million
from the end of the previous consolidated fiscal year. The following paragraphs describe cash flows and reasons for major changes incash flows.

―3―[Cash flows from operating activities]
Net cash provided by operating activities amounted to ¥1,403 million (¥2,856 million in the year-ago period). This result was mainly
due to increases stemming from profit before income taxes of ¥1,306 million (¥1,858 million) and decreases in notes and accounts
receivable-trade and contract assets of ¥2,286 million (¥2,199 million), as well as a decrease of ¥1,886 million in income taxes paid(¥1,978 million).
[Cash flows from investing activities]
Net cash used in investing activities amounted to ¥296 million (¥2,104 million in the year-ago period). This result was mainly due topurchases of software and other intangible fixed assets of ¥227 million (¥146 million).
[Cash flows from financing activities]
Net cash used in financing activities amounted to ¥1,607 million (¥1,767 million in the year-ago period). This result was mainly due
to cash dividends paid of ¥1,481 million (¥1,753 million).
(3) Summary of earnings forecasts and other forward-looking information
At this time, the Company has not made any changes to its earnings forecast announced on April 25, 2024.
At a meeting held on June 18, 2024, the Company Board of Directors resolved not to pay interim and year-end dividends, as announced
in the "Notice regarding the Revision of Dividend Forecast (No Dividend) and the Abolition of the Shareholder Benefit Program for
the Fiscal Year Ending March 2025" released on the same day.

―4―

Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets(Millions of yen)
As of March 31, 2024

As of June 30, 2024

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract
assetsInventories
OtherAllowance for doubtful accounts
Total current assets

37,88837,425

13,354

11,173

111
1,666

199
2,007

(9)

(9)

53,01150,795

1,443

1,404

2,562
798

2,477
780

Non-current assets
Property, plant and equipment
Intangible assets
Software
Goodwill
Other

803

780

Total intangible assets

4,164

4,038

Investments and other assets
Investments and other assets

8,707

8,729

(1)

(1)

Allowance for doubtful accounts
Total investments and other assets

8,705

8,728

14,313

14,17067,32464,966

Accounts payable - trade
Income taxes payable

6,044
1,871

5,960
614

Provision for bonuses
Other provisions

1,390
35

590
37

Total non-current assets
Total assets
Liabilities
Current liabilities

Other

8,072

8,634

Total current liabilities

17,413

15,837

Non-current liabilities
Retirement benefit liability

85

90

Other provisions
Other

52
615

52
548

Total non-current liabilities

753

691

18,166

16,528

Shareholders' equity
Share capital

1,590

1,590

Capital surplus
Retained earnings

1,618
45,882

1,637
45,231

Treasury shares

(763)

(754)

48,32747,704

195

85

238

340

434

425

197

169

Total liabilities
Net assets

Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Foreign currency translation adjustment
Total accumulated other comprehensive income
Share acquisition rights―5―

(Millions of yen)
As of March 31, 2024
Non-controlling interests
Total net assets
Total liabilities and net assets―6―

As of June 30, 2024
198

137

49,15848,43767,32464,966

Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the three months)(Millions of yen)
For the three months
ended June 30, 2023

For the three months
ended June 30, 2024

Net sales
Cost of sales

18,824
10,171

20,862
11,393Gross profit

8,653

9,469

Selling, general and administrative expenses

6,838

8,186

Operating profit

1,814

1,282

Non-operating income
Interest and dividend income

4336

Partnership gain
Other

212

Total non-operating income

4838

Non-operating expenses
Interest expenses

00

Foreign exchange losses
Partnership loss

1-

34

Other

00

Total non-operating expenses

28

Ordinary profit

1,860

1,311

Extraordinary income
Gain on sale of non-current assets-0

Total extraordinary income-015

Extraordinary losses
Loss on retirement of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes
ProfitProfit (loss) attributable to non-controlling interests
Profit attributable to owners of parent

―7―

15

1,858

1,306

643

449

1,215

856(15)

25

1,231

831

Quarterly Consolidated Statements of Comprehensive Income (For the three months)(Millions of yen)
For the three months
ended June 30, 2023
ProfitOther comprehensive incomeValuation difference on available-for-sale securities
Foreign currency translation adjustment
Total other comprehensive income

For the three months
ended June 30, 2024
1,215

856

9445(109)
102139(7)Comprehensive income

1,355

849

Comprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable to non-controllinginterests

1,371

822

(16)

26―8―

Quarterly Consolidated Statements of Cash Flows(Millions of yen)
For the three months
ended June 30, 2023

For the three months
ended June 30, 2024

Cash flows from operating activities
Profit before income taxes

1,858

1,306

Depreciation
Share-based payment expenses269
9333
14

Amortization of goodwill
Increase (decrease) in provisions

14(742)17(793)

Interest and dividend income
Interest expenses
Decrease (increase) in accounts receivable - trade, andcontract assets
Decrease (increase) in inventories

(43)
0(36)
0

2,199

2,286(167)(87)

Increase (decrease) in trade payables
Increase (decrease) in deposits received

275
959

(83)
302

Other, net

159

(12)

Subtotal

4,793

3,248

41

41

Interest paid
Income taxes paid

(0)
(1,978)(0)(1,886)

Net cash provided by (used in) operating activities

2,856

1,403

Purchase of property, plant and equipment
Purchase of intangible assets

(28)
(146)

(69)
(227)

Purchase of investment securities
Payments of guarantee deposits
Purchase of shares of subsidiaries resulting in change
in scope of consolidation
Other, net

(510)
(86)

(0)

(1,331)-

Interest and dividends received

Cash flows from investing activities(0)1(2,104)

(296)

(6)

(3)

(1,753)-(1,481)
(88)

(8)

(34)

Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cashequivalents
Net increase (decrease) in cash and cash equivalents(1,767)(1,607)2137(993)(462)

Cash and cash equivalents at beginning of period

35,57537,888Cash and cash equivalents at end of period

34,58137,425

Net cash provided by (used in) investing activities
Cash flows from financing activities
Repayments of lease liabilities
Dividends paid
Dividends paid to non-controlling interests
Other, net―9―Notes on the consolidated financial statements(Changes in accounting policies)(Changes in translation method of revenues and expenses of overseas subsidiaries)
The Company has previously translated revenues and expenses of overseas subsidiaries into yen using the spot exchange rate on theclosing date. Beginning in the first quarter of the current consolidated fiscal year, the Company switched to using the average exchange
rate to translate revenues and expenses of overseas subsidiaries into yen in light of the expected increase in importance of overseas
sales of overseas subsidiaries. By switching calculation rates, the Company aims to mitigate the impact of temporary fluctuations inexchange rates on periodic income (loss) and reflect the performance of overseas subsidiaries more appropriately in the Company
consolidated financial statements.
The Company applied this change in accounting policy retrospectively to the quarterly consolidated financial statements andconsolidated financial statements for the first quarter of the previous consolidated fiscal year and the previous consolidated fiscal year.
Effects of this change in accounting policy were immaterial on profit (loss) for the first quarter of the previous consolidated fiscalyear.
Retained earnings at the beginning of the previous consolidated fiscal year increased by 43 million yen due to the cumulative effecton net assets. The balance of foreign currency translation adjustments at the beginning of the previous consolidated fiscal year
decreased by the same amount.

―10―