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

Summary of Consolidated Financial Results
for the First Quarter of the Fiscal Year Ending March 2023
(Based on Japanese GAAP)
August 10, 2022
Company name: Confidence Inc.

Listing exchange: Tokyo Stock Exchange

Securities code: 7374

URL: https://confidence-inc.jp

Representative: Nobuyuki Takushi, President
Inquiries:

Koji Nagai, Director and General Manager, Administration Division

Scheduled date for filing quarterly securities report:

Phone: +81-3-5312-7700

August 10, 2022

Scheduled date for commencing dividend payments: Preparation of supplementary materials on quarterly financial results: Yes
Holding of quarterly financial results briefing session:

No (for institutional investors and analysts)(Amounts are rounded down to the nearest million yen, unless otherwise noted)
1. Consolidated Financial Results for the First Quarter (April 1, 2022 to June 30, 2022) of the Fiscal Year Ending March 31, 2023
(1) Consolidated Operating Results (Cumulative)(Percentage figures represent year-on-year changes)
Profit attributable toRevenue
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%First quarter ended June 30,
1,250 20.0
236 30.1
236 34.8
156 34.0
2022
First quarter ended June 30,
1,042
–181
–
175
–
116
–
2021
(Note) Comprehensive income
First quarter ended June 30, 2022: 156 million yen [34.0%]
First quarter ended June 30, 2021: 116 million yen [– %]Basic earnings per share

Diluted earnings pershare
YenYenFirst quarter ended June 30,
34.06
32.99
2022
First quarter ended June 30,
27.14
25.79
2021
(Note) Diluted earnings per share for the first quarter ended June 30, 2021 is calculated by using the average share price for theperiod from the initial listing date to the end of the said quarter, deeming it to be the period-average share price, as theCompany was listed on the Tokyo Stock Exchange Mothers market on June 28, 2021.
(2) Consolidated Financial Position
Total assets
Millions of yen
As of June 30, 2022
2,411
As of March 31, 2022
2,437
(end of previous fiscal year)(Reference) Total shareholders’ equity
As of June 30, 2022:
1,621 million yen
As of March 31, 2022: 1,648 million yen

Net assets

Equity ratio

Millions of yen
1,629%
67.2

1,65567.6

2. Cash Dividends
Annual dividends per share
End of 1st quarter End of 2nd quarter End of 3rd quarter
YenYenFiscal year ended March 2022–
0.00
Fiscal year ending March 2023–
Fiscal year ending March 2023
20.00
(Forecast)(Note) Revisions to the most recently announced dividend forecast: No

Fiscal year-endTotalYen–Yen40.00

Yen
40.00

–25.0045.00

3. Forecast of Consolidated Financial Results for the Fiscal Year Ending March 31, 2023 (from April 1, 2022 to March 31, 2023)(Percentage figures indicate year-on-year changes)
Profit attributable to Basic earnings per
Revenue
Operating profit
Ordinary profit
owners of parent
shareMillions
ofyen%
Millions
ofyen%
Millions of yen% Millions of yen%First two quarters
2,450 16.9
379 7.0
378 8.9
256 10.0
56.09(cumulative)
848 14.9
585 10.3
127.91
Full year
5,200 17.5
850 14.0(Note) Revisions to the most recently announced earnings forecast: No* Notes(1) Changes in significant subsidiaries during the quarter (changes in specified subsidiaries resulting in change in scope ofconsolidation): No(2) Application of accounting treatments specific to the preparation of quarterly consolidated financial statements: No(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
1) Changes in accounting policies due to revisions to accounting standards and other regulations:No2) Changes in accounting policies other than those in 1) above:No3) Changes in accounting estimates:

No4) Restatement of prior period financial statements:

No(4) Number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2022
4,580,800 shares As of March 31, 2022
2) Number of treasury shares at the end of the period
As of June 30, 2022
- shares As of March 31, 2022
3) Average number of shares during the period (cumulative from the beginning of the fiscal year)
First quarter ended June 30, 2022
4,580,774 shares First quarter ended June 30, 2021

4,580,400 shares- shares
4,289,121 shares* This summary of financial results is not subject to quarterly review procedures by a public accountant or audit corporation.
* Explanation regarding appropriate use of earnings forecasts, and other notes
The earnings outlook and other forward-looking statements contained in this document are based on information currently available
to and certain assumptions that are thought to be reasonable by the Company. Accordingly, such statements should not beconstrued as a guarantee of achieving the results by the Company. Actual financial results and the like may differ materially due tovarious factors.

Quarterly Consolidated Financial Statements and Major Notes(1) Quarterly Consolidated Balance Sheets

Previous fiscal year
(As of March 31, 2022)(Thousands of yen)First quarter ofcurrent fiscal year
(As of June 30, 2022)

AssetsCurrent assets
Cash and deposits
Accounts receivable - trade

1,724,844
515,2311,628,549
543,728

Accounts receivable - other
Other

589
27,597637
25,1162,268,262

2,198,031

34,293(18,645)

45,797(1,437)

15,64844,359Total current assets
Non-current assets
Property, plant and equipment
Buildings
Accumulated depreciation
Buildings, net
Tools, furniture and fixtures

26,151

38,410

Accumulated depreciation(17,383)(16,868)

Tools, furniture and fixtures, net

8,767

21,542

Total property, plant and equipment

24,41565,902

SoftwareTrademark right

11,789145

10,843141

Total intangible assets

11,935

10,985Investments and other assets
Deferred tax assets

49,00857,485

Guarantee deposits
Other

83,319618

78,064538

Total investments and other assets

132,946

136,087

169,297

212,974

2,437,559

2,411,006

Intangible assets

Total non-current assets
Total assets1

(Thousands of yen)First quarter ofcurrent fiscal year
(As of June 30, 2022)

Previous fiscal year
(As of March 31, 2022)
Liabilities
Current liabilities
Current portion of long-term borrowings

90,00090,000Accounts payable - otherAccrued expenses

43,685258,920

34,975
277,744

Income taxes payable
Accrued consumption taxes

118,577
131,543

85,371
107,998

Deposits received
Provision for bonuses

16,144
100,504

42,852142,028

276

252

759,652

781,224

Long-term borrowings

22,500-Total non-current liabilities

22,500-782,152

781,224

Shareholders' equity
Share capital

497,384

497,484

Capital surplus
Retained earnings

389,378
761,274

389,478734,070

1,648,036

1,621,033

Refund liabilities
Total current liabilities
Non-current liabilities

Total liabilities
Net assets

Total shareholders' equity
Share acquisition rights
Total net assets
Total liabilities and net assets

2

7,371

8,748

1,655,407

1,629,782

2,437,559

2,411,006(2) Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive Income
Quarterly Statements of Income(Cumulative)(Thousands of yen)

Revenue
Cost of sales

First quarter ofprevious fiscal year
(April 1, 2021 - June 30, 2021)
1,042,136
672,401First quarter ofcurrent fiscal year
(April 1, 2022 - June 30, 2022)
1,250,685
801,565

Gross profit

369,735

449,119

Selling, general and administrative expenses

188,047

212,759

Operating profit

181,687

236,359

Interest income
Gain on sale of goods

02-Total non-operating incomeNon-operating income

2-Non-operating expenses
Interest expenses

511

273

Commission expenses
Share issuance costs

6,008

44-

Total non-operating expenses

6,519

317

175,170

236,042Gain on reversal of share acquisition rights-

282

Total extraordinary income-

282

Loss on retirement of non-current assets
Office relocation expenses

-

2,873
7,687

Total extraordinary losses-

10,560

Profit before income taxes

175,170

225,764

Income taxes - current
Income taxes - deferred

63,031(4,270)78,228(8,477)

Total income taxes

58,76069,751

Profit116,409

156,012--116,409

156,012

Ordinary profit
Extraordinary income

Extraordinary losses

Profit attributable to non-controlling interests
Profit attributable to owners of parent

3

Quarterly Consolidated Statements of Comprehensive Income(Cumulative)

ProfitOther comprehensive income(Thousands of yen)First quarter ofprevious fiscal year
(April 1, 2021 - June 30, 2021)
116,409

Total other comprehensive income
Comprehensive income

First quarter ofcurrent fiscal year
(April 1, 2022 - June 30, 2022)
156,012--

116,409

156,012

116,409

156,012--Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests4(3) Notes to Quarterly Consolidated Financial Statements(Notes on Going Concern Assumption)
Not applicable.

(Notes in Case of Significant Changes in the Amounts of Shareholder’s Equity)
Not applicable.
(Segment Information, Etc.)[Segment information]
I. First quarter of the previous fiscal year (April 1, 2021 - June 30, 2021)
Information on revenue and profit or loss by reportable segment(Thousands of yen)Amount recordedin quarterly
Adjustments
statements of(Note 1)
income(Note 2)

Reportable segment
HR Solution
businessMediabusiness

Total

Revenue
Sales to outside customers

1,024,604

17,531

1,042,136-

1,042,136-----

1,024,604

17,531

1,042,136-

1,042,136

281,982

3,515

285,498(103,810)

181,687

Inter-segment sales ortransfers
Total
Segment profit(Notes) 1. Adjustments of segment profit (-103,810 thousand yen) include corporate expenses of 103,810 thousand yen that are notallocated to each reportable segment.
2. Segment profit has been adjusted with the operating profit in the Quarterly Consolidated Statements of Income.
II. First quarter of the current fiscal year (April 1, 2022 - June 30, 2022)
Information on revenue and profit or loss by reportable segment
Reportable segment
HR Solution
businessMediabusiness

Total(Thousands of yen)Amount recordedin quarterly
Adjustments
statements of(Note 1)
income(Note 2)

Revenue
Sales to outside customers
Inter-segment sales ortransfers
Total
Segment profit (loss)

1,234,406

16,2791,250,685-

1,250,685

6,199

-

6,199(6,199)-

1,240,605

16,2791,256,884(6,199)

1,250,685

372,739(2,688)370,050(133,690)

236,359(Notes) 1. Adjustments of segment profit or loss (-133,690 thousand yen) include corporate expenses of 133,690 thousand yen that are
not allocated to each reportable segment.
2. Segment profit or loss has been adjusted with the operating profit in the Quarterly Consolidated Statements of Income.
(Significant Subsequent Events)
Not applicable.

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