For the First Quarter of the Fiscal YearEnding September 30, 2021

Results ofOperations
AirTrip Corp.
TSE 1st Section: 6191
February 12, 2021

“Restart”～Start for the 2nd stage after being listed～～Airtrip Group restarts～

FY21.9 Period 1st Quarter “Restart” ～ Quarterly operating profit restarts to achieve the highest record ever during
Corona Pandemic～

In the 1st Quarter of FY21.9 period, considered as the beginningof the 2nd stage after being listed,With the establishment of growth strategy Airtrip 2021 “Restart”,
Leading the industry, achieving the highest operating profit ever of 760 million yen!!!
～By far exceeding the whole year forecast , Airtrip Group is steadily restarting～

Unit: (Million Yen)

FY20.9 Period

FY21.9 Period(1Q ‘s Result※)(Full-year Result)
1st Stage

Start of 2nd Stage(From being listed time to theend of last period)(“Restart” from FY21.9 Period)

Consolidated Operating Profit

FY21.9 Period

Consolidated Operating Loss
(Before Impairment Loss)(Full-year Results Forecast)
Full-year results
forecast isconservatively
made.

7.6
4.5
October
Weakconstitution due
to the large scaleof impairment
loss

4.5
1.4

1.7

November

December△7.9

1Q Grand Total

Full-year Cumulative Result(After Revision of Result Forecast)

The 1st Quarter of FY21.9 Period’s
real profit achieved the highest
record ever and Airtrip Group has
restarted smoothly.

Achieved single month profitability in the 1st
Quarter of FY21.9 period by accumulating
business revenue by means of promoting
diversification of business portfolio.

※The above mentioned 1Q result is preliminary figures at the present time, and may differ from actual results.

Copyright © Air Trip Corp. All Rights Reserved.

2

FY21.9 Period 1st Quarter “Restart” ～Building Airtrip Economic Zone～

Building an Airtrip Economic Zone starting from
Airtrip Travel Business～Promoting diversified business development by utilizing Airtrip Group’s Assets～

Life Innovation
Business

Airtrip Travel
Business

Japan InboundTravel Business
Wi-Fi BusinessEconomic Zone
Diversified business development by utilizing Airtrip Group’s Assets
IT Offshore
Development
Business

Healthcare
Business

Investment
Business

Promoting our business portfolio dispersion by utilizing our company’s strong assets
such as business development know-how, marketing know-how, system development
ability, brand power, customer base…
Copyright © Air Trip Corp. All Rights Reserved.

3

FY21.9 Period 1st Quarter “Restart” ～Executive Summary～Operation Performance on 1st Quarter of FY21.9 Period is 10.3 billion yen of handling volume, 6.56 billion yen of net sales,
760 million yen of operating profit.
●
Being positioned as the 1st year of the 2nd stage “Restart”, by executing the growth strategy [Airtrip 2021 “Restart”], we areleading the industry and achieving the highest record ever of quarterly operating profit on the 1st quarter.

On the Airtrip Travel Business, with the results of last period actions and the smooth work of GoTo Travel program ,focusing on domestic travel area, revenue and profit will get recovered strongly.
● Other existing businesses except for travel business also continue growing, with recorded profit from the listing of
Headwaters; the additional investment on Mental Healthcare Technologies Company; the equity participation of Lastonemile
and TRUST company; and the promoting of every measures to make profit on future focusing on investment business.
●

The Healthcare Business that just being launched in last period, has a smooth start with the significant rise of PCR test
demand, and are currently promoting for growing even more by large scale of promotion on television advertisement.

At the present, even though travel demand has been badly affected by the spread of Covid-19, we are proceeding the● business portfolio dispersion to build Airtrip Economic Zone by utilizing our company’s strengths such as Business
Development Know-how, Marketing Know-how, System Development Ability, Brand Power and Customer Base.
From now on, along with the better situation of covid-19, with the recovery of demand on inbound and outbound travel andthe restart of GoTo Travel program, Airtrip Travel Business will see a significant recovery on profit and revenue. Restarting● Airtrip Group has aimed to endless growth by accumulating profit from promoting business portfolio dispersion such as 4other existing businesses except for travel business which are stably growing and the newly healthcare business that is
growing even further.
Copyright © Air Trip Corp. All Rights Reserved.

4

FY21.1Q Financial Summary

Copyright © Air Trip Corp. All Rights Reserved.

5

Changes in Handling Volume

Handling Volume compared to the last period: 29％
Handling Volume in the 1st Quarter tends to keep recovering during
Corona Pandemic
Consolidated Handling Volume (Hundred Million Yen)

Increase trend in quarter basis(Compared to the last quarter)（Hundredmillion yen）

100

Recoverytrend

Significant
Recovery

103

78

54
50
0

FY20.3Q

FY20.4Q

FY21.1Q(Compared (Comparedto 2Q)
to 3Q)※Changed to pre-cancellation handling volume from FY19.4Q.
※FY20.1Q is aggregated excluding the discontinued business.

Copyright © Air Trip Corp. All Rights Reserved.

6

Changes in Net Sales

Net Sales compared to the last period: 82％
Net Sales in the 1st Quarter also tends to keep recovering during
Corona Pandemic
Consolidated Net Sales (Million Yen)
Increase trend in quarter basis(Compared to the last quarter)（Hundredmillion yen）

Significant
Recovery

100

65

Recovery
Trend

50

38

40

FY20.3Q

FY20.4Q

0

FY21.1Q(Compared (Comparedto 2Q)
to 3Q)※FY20.1Q is aggregated excluding the discontinued business.

Copyright © Air Trip Corp. All Rights Reserved.

7

Changes in Operating Profit

Operating Profit compared to the last period: 379％
The 1st Quarter’s Operating Profit reached the highest record ever inan accounting period.
Consolidated Operating Profit (Million Yen)

Copyright © Air Trip Corp. All Rights Reserved.
※FY20.1Q is aggregated excluding the discontinued business.

8

Statement of Income

Although handling volume has decreased compared to last year,
We achieved the highest recorded operating profit ever due to the recovery on
business performance of each business area.
（Million Yen）

FY20.1Q
Amount

FY21.1Q
Amount% to Sales% to Sales

Handling Volume

36,046ー

10,363ーNet Sales

7,980

100.0%

6,560

100.0%

Gross Profit

2,961

37.1％

1,935

29.5％

（Including Discontinued
Business）

800

10.0％

763

11.6％

Operating Profit

202

2.5％

763

11.6％

Profit

692

8.6%

432

6.6％

Operating Profit

Copyright © Air Trip Corp. All Rights Reserved.

9Balance Sheet

About equity damage due to impairment loss at the end of the last period
Recovering by fundraising and profit record(Million Yen)

FY20.4Q

FY21.1Q

Difference

Current Assets

15,023

15,409386

Cash and Deposits

7,042

6,749

△293

Operational Investment
Securities

4,359

4,777

418

Non-current Assets

6,916

6,747

△169

Total Assets

21,94022,156

216

Liabilities

19,402

18,916△486

Interest-bearing Debts

11,028

10,685△343

Equity

2,538

3,240

702

Equity ratio

11.5%

14.6%

3.1%

Copyright © Air Trip Corp. All Rights Reserved.

10Strategies and Results against the impact of
COVID-19

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11

Travel Demand Recovery’s Prospect in the future based on the impact of COVID-19

Demand temporarily decreased due to the 3rd wave of Covid-19 and Declaration of emergency
state, But it is forecasted to see dramatically increase in travel demand when GoTo Travel resumes.
～Demand will repeat to recover/decrease, it will be back to increasing trend when vaccine is developed～
Vaccine Development

Numberof People

High

Infection
Cases
Travellers(Travel Demand)

3rd Wave

2nd Wave
Transform to the highest
travel demand ever

1st Wave
Decreasein Infection
Cases

Low

DemandDecrease
Phase

Now

DemandRecovery Phase

Demand Decrease
Phase

Demand Recovery
Phase

Increase in
Infection
Cases

Demand Decrease Phase

Travel profit is assumed tosignificantly recover when
GoTo Travel restarts or
Vaccine is developed

Now

Demand Recovery
Phase

Time
(1.5～2 Year)
Copyright © Air Trip Corp. All Rights Reserved.

DemandDecrease Phase

Explosion in Demand
Phase
Future12

Impact of COVID-19 on Recent Performance

Because GoTo Travel Campaign has been going smoothly, domestic travel area is also doing well.
～Steadily promoting various measures to generate profit in future focusing on investment business
The new Healthcare business has shown a good start and continued to grow～
Adding Tokyo to GoTo
Travel Program(10/1)

October

4Q ’s Results
Announcement(11/13)Nationwide
temporarily suspensionof GoTo Travel
Program (12/28)

November December

Declaration of
emergency state(1/7)

January

1Q’s Results
Announcement(2/12)

February
March
April～(Forecast) (Forecast) (Forecast)

◯
×

◯
×

◯
×

△
×

△?
×?

△～◯?

△～◯?

×?

×?

IT Offshore Development
Business
Japan Inbound Travel／
Wi-Fi Business

△～◯

△～◯

△～◯

△～◯

△～◯?

△～◯?

△～◯?

△～◯

△～◯

△～◯

△～◯

△～◯?

△～◯?

△～◯?

Life Innovation Business
Healthcare Business◯◯

Investment Business

◎

◯
◯
◯

◯
◯
◯

◯
◯
◯

◯?
◯?
◯?

◯?
◯?
◯?

◯?
◯?
◯?

Airtrip Travel (Domestic)
Airtrip Travel (Overseas)

Copyright © Air Trip Corp. All Rights Reserved.

13

FY21.9 Period 1st Quarter Changes in Administrative Expenses ~Cash out Reduction Results and Implementation Measures

While continuing to cut down fixed cost, we plan to optimize variable
cost and advertisement cost.

～Controlling variable cost and advertisement cost along with the decrease on domestic travel demand,and reducing monthly Administrative expenses to about 450 million ～(Hundredmillion yen)

Optimizing variable cost and advertisement cost

10.0
Variable Cost

Variable Cost
Fixed Cost

4.0

1.0?

8.0

1.8

1.6

1.6

6.0

Along with the decrease in domestic travel demand,
implementing cost control according to operation volume.
Advertisement Cost
Continuing to optimize the advertisement cost ratio to gross profit.

Controlling labor cost and reviewing other fixed
costs
Labor Cost

4.0

6.4

0.5?

2.0

2.7

2.6

2.6

0.0

20.2

20.9

FY20.9

21.1~

20.12
FY21.9（Plan）

Copyright © Air Trip Corp. All Rights Reserved.

Continuing to return part of Directors’ bonuses ( Director /Supervisor)
Reducing labor cost by taking leave (Reducing working days)
Compensating for labor cost by utilizing Employment Adjustment
Subsidies.

Other Fixed Costs

Optimizing system development by selecting and gathering
Reducing office related costs by changing to work fromhome
Continuing to review other fixed costs (Outsourcing…)
14

FY21.9 Period 1st Quarter Changes in Gross Profit ～From this term, achieving profit in monthly basis～

Gross Profit grew steadily and achieved profit in monthly basis from this term
～Thanks for the recovery in domestic travel demandand investment business with the gain on sales from stocks,1st quarters has a smoothly started～（Hundredmillion yen）

10.0

By the smooth start of Healthcare
Business, early building revenue base

Other business
Overseas Travel

Thanks for the recovery in domestic travel demandand investment business with the gain on sales
from stocks,1st quarters has a smoothly started

Domestic Travel

8.0

6.0
3.1

1.9
0.2

2.0

1.9

1.5

1.6

1.5

△0.1

0.8

0.7

20.4

20.5

0.0

2.5

3.6
2.5

2.2

0.1

0.1

4.5

2.8

2.4

0.1

0.1

1.8

△0.1

2.2

1.5

4.0
1.7

By the resumption of GoTo Travel
program, domestic travel domain’s
revenue will dramatically recover

2.4

0.1

4.4
3.0

2.6

0.1

4.0
3.0

1.8
20.7

20.6

20.8

20.9

20.10

20.11

FY20.9※Preliminary figures used for Group Business Management.
※From FY21.0, investment business is included in the actual result.

20.12
FY21.9Copyright © Air Trip Corp. All Rights Reserved.

21.1

21.2

21.3

21.4

(Planned
Value)(Planned
Value)(Planned
Value)(Planned
Value)

15

FY21.9 Period Full-year consolidated results forecast

By executing the growth strategy Airtrip 2021 “Restart”
We has led the industry and gained profit in 1st Quarter‼
～The results has become better, and the forecast value has been updated up twice～(Million Yen)
FY21.9 Period
Full-year forecast

FY21.9 Period
Revised full-year
forecast

Handling
Volume45,00045,000Net Sales

23,50024,300Operating
Profit300

449

Profit180

275

Dividend--

Strategy based on results forecast

・The recovery of Airtrip Travel business’s revenue.
・Accumulating revenue by promoting businessportfolio dispersion.
・Revenue from proactive investing on developing
domains.

・Increasing profit by cut down cash out.

・Aiming for a payout ratio of 20%※Based on the revised full-year results forecast announced on January 5th ,2021
Copyright © Air Trip Corp. All Rights Reserved.

16

FY21.1Q Recent Actions and Achievements

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17

Significant increase in Handling Volume and Gross Profit by capturing GoTo travel demand!!
Airtrip Travel Business

Significant increase in Handling Volume and Gross Profit
by capturing GoTo travel demand!!
~ This 1Q has achieved 345% in Handling Volume, 470% in Gross Profit
and 145% in CVR compared to last 4Q ~Handling
VolumeHandling Volume

Gross Profit（1Q Preliminary
Value ）

CVR

345%
※Compared toFY20.4Q

Dramatically improved Handling
Volume and Gross Profit by GoTo
Travel demand capture

Gross Profit（1Q Preliminary
Value ）470%

CVR

（1Q Preliminary
Value ）

※Compared toFY20.4Q

145%※Compared toFY20.4Q

FY20.4Q

FY21.1Q※ The above numbers are preliminary figures based on the return date of domestic flights + hotels, domestic hotels, and domestic tours (including Needstour).

Copyright © Air Trip Corp. All Rights Reserved.

18

Singing Tourism Agreement with Setouchi Town, Amani Oshima District, Kagoshima Prefecture
Airtrip Travel BusinessAirtrip has signed a tourism agreement with Setouchi Town, Amani
Oshima District, Kagoshima Prefecture～Cooperating in creating new travel demand with a vision to register as World Natural Heritage～※This photo shows the signing ceremony held at Setouchi Town Hall on January 7, 2021
(From left) Mayor of Setouchi, Mr. Kamada and our company Director, Mr. Akiyama

Copyright © Air Trip Corp. All Rights Reserved.

19

Starting to provide private PCR Test and related information to foreigners living in Japan
Japan Inbound Travel Business・
Wi-Fi BusinessStarting to provide foreigners living in Japan about private PCR Testand related information on our Group Inbound Platform, ‼
～in English, Chinese, Korean, French, Spanish and Vietnamese ～Copyright © Air Trip Corp. All Rights Reserved.

20

Sponsoring for “The 52nd All Japan Open Karate Championship” of Shinkyokushinkai Organization
Life Innovation BusinessSponsoring for "The 52nd All Japan Open Karate Championship” of
Shinkyokushinkai Organization(Broadcasted on Tokyo TV at 16h, November 29th ,2020)‼
～Operating by Magmag (Security code: 4059), a company of our group
Athlete interviews are free live streaming on “Magmag!Live”, a live streaming service～

Copyright © Air Trip Corp. All Rights Reserved.

21

Starting all-year-round support for PCR tests at T Care Clinic which is affiliated with Airtrip Group
Healthcare Business

At T Care Clinic, a clinic affiliated with Airtrip Group
Starting all-year-round support for PCR tests!!
～Aiming to eliminate any worry about Covid-19 by all-year-round support service～

Copyright © Air Trip Corp. All Rights Reserved.

22

Starting to provide PCR Test services of Airtrip Group for overseas travelers on JAL official Website
Healthcare BusinessStarting to provide PCR Test services of Airtrip Group for overseas
travelers on JAL official Website‼

～It is now possible to issue negative certificates for JAL’s customers who travel to Hawaii and China～

Copyright © Air Trip Corp. All Rights Reserved.

23

Strengthening the cooperation on healthcare business domain with the additional investment on Mental Health Technologies
Company
Investment Business

Healthcare Business

Expanding Could Services on Mental Healthcare Domain
Investing more on Mental Healthcare Technologies Company～Strengthening cooperation with our healthcare business, and starting the services of both companies～

Additional Investment

Third-party allotment

Copyright © Air Trip Corp. All Rights Reserved.

24

Agreement to establish Airtrip Magmag ventures between Airtrip and our subsidiary MagMag
Investment Business

Agreement to established “Aitrip MagMag Ventures” as Joint Venture
Company between Aitrip and our subsidiary MagMag‼
~ Supporting the growth of venture company by utilizing the assets and listing experiences of both companies ~

90％

10％
Joint Venture
Company

AirTrip Magmag Ventures Co., Ltd.
Business Purpose
By investing in domestic and foreign venture companies
・ Acquiring capital gains by the listing of investees, etc.
・ Expanding business with the formation of Capital andBusiness Alliance with investees.
・ Producing listed companies following our company and
MagMag・ Continuous social contribution by establishing a fund basedon capital gains obtained from the listing of investees, etc.

Investment

Ventures Company

Copyright © Air Trip Corp. All Rights Reserved.

Value Provided① Knowledge, know-how, network and brand power
accumulated from AirTrip's travel business and investment
business.
➁ Assets such as Magmag's customer network, content
development capabilities, and brand power
Listing support, business growth support, company’s value
improvement support for investee companies by utilizing bothcompanies’ assets and listing experiences.

25

Business alliance with Cabin Co., Ltd. and basic agreement on transfer of all shares of National Ryutsu Sangyo Co.,Ltd
Airtrip Travel BusinessBusiness alliance with Cabin Co., Ltd., which operates a ticket shop "Ticket CABIN" on
February 24, and basic agreement on transfer of all shares of National Ryutsu Sangyo Co.,Ltd~As part of the dispersion and restructuring of the business portfolio of the
AirTrip group toward the "restart"~

Business alliance・AirTrip Travel Business
・Wi-Fi Business・Healthcare Business・Marketing support
100% subsidiary

National Ryutsu
Sangyo Co.,Ltd

all shares of our
subsidiary National
Ryutsu Sangyo Co.,Ltd

Copyright © Air Trip Corp. All Rights Reserved.

26

FY21.9 Period 1st Quarter “Restart” ~ Executive Summary ~Operation Performance on 1st Quarter of FY21.0 Period FY21.9 is 10.3 billion yen of handling volume, 6.56 billion yen of net
sales, 760 million yen of operating profit.
●
Being positioned as the 1st year of the 2nd stage “Restart”, by executing the growth strategy [Airtrip 2021 “Restart”], we areleading the industry and achieving the highest record ever of operating profit on the 1st quarter.
On the Airtrip Travel Business, with the results of last period actions and the smooth work of GoTo Travel program ,focusing on domestic travel area, revenue and profit will get recovered strongly.
● Other existing businesses except for travel business also continue growing, with recorded profit from the listing of
Headwaters; the additional investment on Mental Healthcare Technologies Company; the equity participation of Lastonemile
and TRUST company; and the promoting of every measures to make profit on future focusing on investment business.
●

The Healthcare Business that just being launched in last period, has a smooth start with the significant rise of PCR test
demand, and are currently promoting for growing even more by large scale of promotion on television advertisement

At the present, even though travel demand has been badly affected by the spread of Covid-19, we are proceeding the● business portfolio dispersion to build Airtrip Economic Zone by utilizing our company’s strengths such as Business
Development Know-how, Marketing Know-how, System Development Ability, Brand Power and Customer Base.
From now on, along with the better situation of covid-19, with the recovery of demand on inbound and outbound travel andthe restart of GoTo Travel program, Airtrip Travel Business will see a significant recovery on profit and revenue. Restarting● Airtrip Group has aimed to endless growth by accumulating profit from promoting business portfolio such as 4 otherexisting businesses except for travel business which are stably growing and the newly healthcare business that is growing
even further.
Copyright © Air Trip Corp. All Rights Reserved.
27

FY21.1Q Business Progress

Copyright © Air Trip Corp. All Rights Reserved.

28

Marketing ~ Airtrip Branding Measures ➀ ~Airtrip Travel Business

Implementing various marketing measures connected with GoTo Travel、Achieved significant increase in the “Airtrip” keywords searches volume‼
~Promoting measures connected with GoTo Travel along with the change in travel demand and government reports~

Achieved significant increase in“Airtrip” keyword search volume withmeasures connected with GoTo Travel

Domestic Travel Demand dramaticallydecreased due to the temporary suspensionof GoTo Travel and the 3rd wave of Covid-19
GoTo Travel
Nation-Wide temporary suspension(28th Dec～)

Domestic Travel Demand
dramatically decreased dueto the 2nd wave of Covid-19
GoTo Travel
Start of Regional Coupon (1st Oct ~)GoTo Travel
Temporary suspension in Tokyo, Osaka,
Sapporo, Nagoya, Hiroshima (14th Dec～)

GoTo Travel
Announcement to extend to Tokyo(18th Sep)

August2020

September
2020

October
2020

November
2020

Copyright © Air Trip Corp. All Rights Reserved.

December
2020

January2021
29Marketing ~ Airtrip Branding Achievement ➁～Airtrip Travel Business

Outperforming competitors in search trend during GoTo Travel
program by raising awareness of “Airtrip”~ Stay ahead of competitors in search trends from October to December~
AitripCompetitors

During GoTo Travel period, surpass
competitors in search trend

GoTo Travel
Start of Regional Coupon (1st Oct ~)3rd wave of Covid-19
Over 2000 positive cases nation wide(18th Nov)

October 2020

November 2020
Copyright © Air Trip Corp. All Rights Reserved.

December 2020

GoTo Travel
Temporary suspension in Tokyo, Osaka,
Sapporo, Nagoya, Hiroshima (14th Dec～)

January 2021
30

Marketing ~ Airtrip Branding Measures ➂ ~Aitrip Travel Business

Implementing “Airtrip GoTo Travel Campaign” measures~Promoting various measures connected to GoTo Travel with customers communication channels~

Offline Advertisement

Digital Marketing

Transit Advertising

WEB-CM

Measures for members

FacebookAds

E-mail newsletter
AppealGoogleAds
Yahoo Ads
VariousSponsorship

App Appeal
LINE Ads

Shinkyokushinkai
BoxingCopyright © Air Trip Corp. All Rights Reserved.

31

Marketing ~Starting Transit advertising and TV advertisement to advertise PCR Tests of affiliated clinics～
Healthcare BusinessStarting Transit advertising and TV advertisement about PCR Test of T
Care Clinic, which is affiliated to our Group‼
TV Advertisment

Transit Advertising

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32

Marketing ~ Significant rise in PCR test reservation by PCR test related Television Commercial Advertisement ~Healthcare Business

Under the circumstances that demand for PCR tests is rapidly increasing,with
TV Advertisement, There is a significant increase in number of PCR Test
Reservations at our affiliated clinics~ Achieving the rapidly increasing PCR Test demand by TV Advertisement ~Number of Reservation

Start of PCR Test advertisement
on TV (1st Aug～)

With the rapid increase of PCR Test Demand
and Television advertisement, there issignificant increase in the number of PCR Test
reservations at T Care Clinic’s special site.

Gained target viewers’
awareness by TV
Advertisement

January 2021

December
2020※The number of reservations via WEB for Test at Hospitals and PCR test kits (Home delivery)

Copyright © Air Trip Corp. All Rights Reserved.

33

Domestic Airline Ticket ~ Handling volume and operating profit’s recovery due to the increase in domestic travel demand ~Airtrip Travel Business

Handling volume and operating profit’s recovery
due to the increase in domestic travel demand‼
~There is recovery of 108% in Handling volume and 121% in Operating profit compared to the last 4Q~<Changes in Airtrip Domestic Ticket's handling volume and Operating Profit>
Handling volume

Handling
VolumeOperating Profit（1Q Preliminary
Value ）

108%

Continue to recover in domestic airline ticket’s handling volume dueto the achievement of GoTo Travel and the increase in domestic
travel demand.

※Compared toFY20.4Q

Operating
ProfitRaising operating profit by significantly reducing variable
costs

121%

Control the variable costs such as advertisement cost andoperation cost according to the change in domestic travel
demand and reduce the break-even point.

（1Q Preliminary
Value ）

※Compared toFY20.4Q

FY20.3Q

Recovery in handling volume due to the rise in domestic travel
demand

FY20.4Q

FY21.1Q
Copyright © Air Trip Corp. All Rights Reserved.

34

Domestic Aitrip Pluss (Airline ticket + Hotel) ~ Handling Volume dramatically recovered with the achievement of GoTo Travel ~Airtrip Travel Business

Handling Volume dramatically recovered
with the achievement of GoTo Travel~ Achieved 238% in Handling Volume, 135% in Organic CVR compared to last 4Q ~＜Changes in Aitrip Balance (Airline ticket + Hotel)’s Handling Volume/ CVR ＞

Handling
VolumeHandling volume
CVR（1Q Preliminary
Value ）

238%

Raising Handling Volume of Airline Ticket andHotel with the achievements of GoTo Travel
Achieved dramatically rise in Handling Volume of
Airline Ticket + Hotel due to the continuingachievements of GoTo Travel.

※Compared toFY20.4Q

CVR

Organic CVR continues to grow further（1Q Preliminary
Value ）

135%

※Compared toFY20.4Q

FY20.4Q

Organic CVR continues to grow further byimproving UI/UX appropriate for handling regional
coupons.

FY21.1Q
Copyright © Air Trip Corp. All Rights Reserved.

35

Domestic Hotel ~ Achieved the highest record ever in Handling Volume and Operating Profit due to the synergistic
effect of GoTo Travel and Tokyo Citizens Promotion Campaign
Airtrip Travel Business

Achieved the highest record of Handling Volume and Operating Profit bycontinuing to improve UI/UX, in addition to GoTo Travel and Tokyo Citizens
Promotion Campaign~ Achieved 240% in handling volume and 540% operating profit compared to last period’s 4Q~<Change in Airtrip Domestic Hotel’s Handling Volume and Operating Profit>
The highest Handling
Volume recorded
Handling
VolumeHandling volume
Operating Profit（1Q Preliminary
Value ）

240%

※Compared toFY20.4Q

Operating
Profit（1Q Preliminary
Value ）540%
※ Compared toFY20.4Q

FY20.3Q

FY20.4Q

Achieved the highest record ever in Handling Volume andOperating profit due to the synergetic effect of GoTo Travel
and Tokyo Citizens Discount Campaign
With the synergistic effect of GoTo Travel and Tokyo Citizens
Promotion Campaign, we could capture the rapidly increasing
demand for accommodation. So that Handling Volume andOperating Profit could reach the highest record ever.
Achieve CVR improvement by continuing essential UI /UX improvement
While continuing to improve the site for user convenience, wehave achieved constant CVR improvement by adding new
bundle sales lines together with airline tickets and otherproducts.

FY21.1Q
Copyright © Air Trip Corp. All Rights Reserved.

36

Domestic Hotel ~ Business Strategy taking advantage of GoTo Travel and Tokyo Citizens Promotion Campaign ~Airtrip Travel BusinessContinuing to implement various measures aiming to GoTo Travel and Tokyo
Citizens Promotion Campaign’s accommodation demand capture~ Looking ahead to the resumption of GoTo Travel and promoting thorough improvement from customers’ perspective~
Strengthening purchase andsales of Airtrip special selectedfacilities

UI / UX improvements for further
accommodation demand
capturePromoting further purchase and sales
enhancement by signing sales contracts
with JR-East Hotels, Prince Hotels,
Tokyu Hotels, and Keikyu EX Inn.

Aiming for further accommodation
demand capture by improving
convenience by refreshing the home
page and improving the site assuming
the resumption of GoTo Travel andTokyo Citizens Promotion Campaign

Adding new function from
customers’ perspective toimprove CVR

Acquiring new potential
customers by diversifying sales
channelsThoroughly analyzing customer’s journey
when they search for accommodationfrom various options on the site,
introducing optimal new functions andaiming to improve CVR.

Approaching potential customers buthaving weak contact until now by crossselling with airline tickets andShinkansen, diversifying andstrengthening sales channels forcorporations

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37

Domestic Tour/ Needstour (Group Company)~ Significant increase in Handling Volume by the creation of products focus on Okinawa~
Airtrip Travel Business

Significant increase in Handling volume of Airtrip domestic tour and Needstour(Group Company) due to the creation of products focus on Okinawa~~Achieved the highest record ever for handling volume in this 1Q~<Changes in Airtrip Domestic Tour’s Handling Volume> <Opening Airtrip Diving Page for Airtrip Domestic Tour>The highest Handling Volume
recordedHandling Volume

Starting the special page for selling diving and snorkel
attached plans, keeping to expand more and more plasn
and areas. Okinawa Hontou, Miyako-jima, Amani Oshima

Handling
Volume（1Q Actual Value）

118%※Compared toFY20.4Q

FY20.4Q

FY21.1Q
Copyright © Air Trip Corp. All Rights Reserved.

38

Overseas Airline Ticket / Overseas Hotel / Overseas Airtrip Plus (Airline Ticket + Hotel)~ Continuing to doing all effort to reduce cost ~Airtrip Travel Business

By continuing to doing all effort to reduce cost, minimize the influence of Covid-19~ Succeeded to reduce 97% compared to last 1Q by minimizing advertisement expenses~<Difference in Advertisement Expenses of Overseas Travel>

Preparing for restart and minimizing marketing cost
Advertisement Expenses

While continuing to suspend paid advertising, paying
attention to the trends in Japan and in the world as well,
preparing to resume promoting ads.
Advertisement
Expenses△97%※Compared toFY20.1Q

Optimal pricing after considering market conditions

Carefully examining the appropriate price range from dailyusers’ trends and creating optimal pricing according to thesituation.
Scrutiny of room for cost reduction and further
reduction of fixed costs

FY20.1Q

FY21.1Q

Reviewing the business content based on the cost
reduction results in the last 4Q and further reducing fixed
costs.

Copyright © Air Trip Corp. All Rights Reserved.

39

Overseas Airline Ticket / Overseas Hotel / Overseas Airtrip Plus (Airline Ticket + Hotel)~ Starting cross-selling for PCR tests for overseas travellers~
Airtrip Travel Business

Healthcare BusinessStarting Cross-selling for PCR tests at Airtrip website~ Issuance of negative certificates required for overseas travelis also possible in sequence ～Starting to sell PCR Test at Airtrip Reservations
Website!!
Starting to sell PCR tests for overseas travellers who
are required medical examinations. Customers all overJapan can receive not only in-hospital tests but also
home delivery tests.
It is now possible to issue a negative certificate
required for entry into other countries
Since the relaxation of travel restrictions to Hawaii in
November 2020, the number of negative certificatesissued has increased. We are now promoting the
expansion of coverage areas, including in Asia such as
China and South Korea.
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40

Group Company: 747 Enterprise
Airtrip Travel Business

Healthcare BusinessStarting providing one-stop service from PCR test before travelling to departure
following the loosen restrictions to enter Hawaii

Providing services in collaboration with ouraffiliated clinics
Providing one-stop service from before travelling by ouraffiliated clinic which has been recognized as a Hawaii’s
state designated PCR Test medical institution.

Building a pre-confirmation flow 10 days before
cancellation
By having built an operation flow to pre-confirm byphone or email 10 days before applying cancellation
fee, it is possible to make reservations withoutworrying about the schedule.
Copyright © Air Trip Corp. All Rights Reserved.

41

IT Offshore Development Business～Increase in number of new orders～
IT Offshore Development
Business

Number of new orders for development projects has
favorably increased

Number of new orders

6 Companies
5 othercompanies
Copyright © Air Trip Corp. All Rights Reserved.

42

Core Subsidiaries: Hybrid Technologies
IT Offshore Development BusinessNo. 1 in Japanese offshore development in Southeast Asianthrough hybrid development~ Achieved 102% in Net Sales compared to last 4Q ~(Million Yen)600

Net Sales

Net Sales（1Q Preliminary
Value ）

102%

480

※Compared toFY20.4Q

360

341

348

Aiming for further sales growth toward stock listing while
continuing steady conversion (CV) of acquisition leads bycontinuing the measures of last period.
Entered the EdTech field with a business alliance

240

Through a business alliance with KEI Advance, a major
company in the education industry, we will integrate andeducate our AI model skills, and use it as an opportunity
to further improve our knowledge and promote DX in
education field.

120

0Accumulating the number of orders and preparing forlisting

FY20.4Q

FY21.1Q
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43

Core Subsidiaries: Inbound Platform Corp.
Japan Inbound Travel／
Wi-Fi Business

Growing due to the increase in domestic demand for remote workand strong media towards foreigners~ Achieved 102% in Net Sales compared to last 4Q ~Net Sales(Million Yen)118%

Net Sales（1Q Preliminary
Value ）

250

※Compared toFY20.4Q

200

179

152

Increased corporate demand in the Wi-Fi
business
Corporate demand continues to grow due to theincreasing demand for remote work in Japan.

150

Media towards foreigners is going well100

PCR Test related information transmission andreservation platform towards foreigners hasgrown significantly.

50

Fixed cost reduction or cost efficiency

0

Continuing to achieve cost efficiency by reducing
purchasing costs and fixed costs,
FY20.4Q

FY21.1Q
Copyright © Air Trip Corp. All Rights Reserved.

44

Group Company: Atrip Stay
Japan Inbound Travel／
Wi-Fi BusinessDramatically improved RevPAR (1 room sold / day) by improving thequality of managed properties~ Achieved 189% in RevPAR compared to last 4Q ~RevPAR（1Q Preliminary
Value）

189%

RevPAR(1 room sold /day)※Compared toFY20.4Q

Refurbishment interior for managed properties bycorporating with interior designers
Improving interior design abilities by cooperate withinterior designers, supervising actual construction andfurniture placement, achieving 140% in ADR(Accommodation unit price) compared to last 4Q
Domestic demand capture with early application of
GoTo Travel

FY20.4Q

FY21.1Q

Getting demand from early booking with quick support.
Although there were many cancellations, as a result,
OCC (Property occupancy rate) achieved 135%
compared to last 4Q.

Copyright © Air Trip Corp. All Rights Reserved.

45

Core Group Company: MagMag (Securities code：4059)~ Continuing to increase Net Sales and Operating Profit after being listed ~Life Innovation Business

Even after listing, Net Sales and Operating Profit will continue to increase bypromoting business centered on platform such as "Magmag! Live“~ Achieved 106% in Sales and 133% in Operating Profit compared to last 4Q ~※<Changes in MagMag’s Net Sales/ Operating Profit>
Net sales
Operating Profit

Continuing business expansion centered on platformbusiness

Expecting further increase in the number of paid members by
expanding new functions and improving convenience, centeredon e-mail newsletters and live streaming services.

Net Sales（1Q Preliminary
value）

106%※Compared toFY20.4Q

Operating
ProfitStrengthening owned media in Media Advertising Business

133%

Promoting the strengthening of owned media by acquiring new
writers and continuing to publish articles by cooperating withexternal media and using it as a catalyst for business growth.

（1Q Preliminary
value）※Compared toFY20.4Q

FY20.3Q

FY20.4Q

FY21.1Q※The above 1Q results are preliminary figures at this time and may differ from the actual results.

(Preliminary Value)
Copyright © Air Trip Corp. All Rights Reserved.

46

Group’s Company: Airtrip Ticket
Life Innovation Business

Maintaining strong sales by appealing seasonal products~ Achieved 106% in Net Sales compared to last 4Q ~(Million yen)

2,500

Net Sales

2,034
2,000

1,928

1,500

Steadily increasing sales by strengthening seasonal
products such as New Year's cards and setting prices
in consideration of market conditions.

Net Sales（1Q Preliminary
value）

106%

1,000

Continuing to control costs according to store
profitability※Compared toFY20.4Q

500

0Increasing sales by strengthening trading of
seasonal productsContinue to control cash out costs by reducing fixed
costs by closing unprofitable stores, taking leave, etc.
FY20.4Q

FY21.1Q
Copyright © Air Trip Corp. All Rights Reserved.

47

Group companies : Pika Paka ~ Changing company name to Pika Paka Co., Ltd. on January 1st , 2021
Healthcare business

The company name was changed from AirTrip BTM Co.,
Ltd. to Pika Paka Co., Ltd. on January 1st, 2021
~Focusing more on corporate business travel support services and healthcare
services as a welfare benefits~
Customer base
PCR test registeredcompany clients

Corporate business travel
support service clients

Develop a pricing services thatis not limited to travel domain

Logistics
serviceCreating a new revenue baseWelfarebenefits

Medicalsupport

DeliveryserviceInsuranceservice

Copyright © Air Trip Corp. All Rights Reserved.

48

Group companies: Pika Paka
~ Changes in the cumulative number of registered companies of corporate business travel support services ~Healthcare
business

The number of clients of corporate businesstravel support services and registered companies has slowed down due tothe Covid-19 but the trading base remained unchanged(The number of registered companies)
Increase by acquisition ofDeNA Travel Co., Ltd.

Copyright © Air Trip Corp. All Rights Reserved.

3,538

49

Group companies: Pika Paka
~ Significant increase in the number of registered companies to build a PCR test system ~Healthcare businessContinuing to increase in the number ofregistered companies requesting PCR test
~Secure PCR test demand by test methods according as company needs~<Changes in the number of registered companies for PCR test>

Continuing to capture PCR test demand andincrease the number of registered companies

The number of registered companies

Significant increase in the numberof registered companies for PCR
test due to the invasion of the 3rd
wave of the Covid-19

By expanding the three patterns of test methods: Test at
hospital /Office visiting test/ Home delivery test kit, wehave various PCR test demand and saw a significant
increase in the number of registered companies.
Increasing PCR visiting test due to the third wave of
the Covid-19

20.8

20.9

20.10

20.11

20.12

Due to the invasion of the third wave of the Covid-19,
since November 2020, PCR visiting test demandaccording to the situation of various companies, such as
only for all employees and employees on the relevant
floor has increased sharply.

Copyright © Air Trip Corp. All Rights Reserved.

50

(Repost) Group companies: Pika Paka
~ Starting reservation for PCR test and antibody test for corporate customers ~Healthcare
business

Starting reservation for PCR test and antibody test for corporate customers
as part of supporting measures against Coronavirus infection!!
Reservation service
for PCR test andantibody test

Corporate
customers

Corporated
medicalinstitutions

Pika Paka Co., Ltd.
Medical service(AirTrip Group Company)

Employee andtheir family

Inspection
proposal

Inspection
reservation

Individual
customer

AirTrip
memberMedical service

Inspection
request・ Inspection reservation
agency・ Health (negative)
certificate sending
agency・ Invoice settlement
support・ Providing information
Covid-19 in each country

Copyright © Air Trip Corp. All Rights Reserved.

51

Investment Business ～ Continuing to invest for further growth～
Investment Business

Strengthening the investment development of 66 companies
Total investment amount is about 2.5 billion yen※As of February 2021･･･etcCopyright © Air Trip Corp. All Rights Reserved.

52

Investment Business ~ Capital business alliance with Last One Mile Co.,Ltd. ~Investment Business

Capital business alliance with Last One Mile Co.,Ltd.
which operates the "Last One Mile Platform“ connecting companies and customers!!
~ Aiming to create new synergy by providing our member service building, operation know-how, Web and applications
related know-how ~Capital Business Alliance

Copyright © Air Trip Corp. All Rights Reserved.

53

Investment Business ~ Capital participation in TRUST Co.,Ltd., which promotes DX in the construction industry ~Investment Business

Capital participation in TRUST Co.,Ltd.,
which develops space for offices/stores and promotes DX in the constructionindustry utilizing IT services‼
~Providing services for improving business efficiency and creating new value in the construction industry~

Investment

Third-party Allotment

Copyright © Air Trip Corp. All Rights Reserved.

54

Investment Business ～ Sold all shares of our investee company Senkyo Inc.
Investment BusinessTransfering all shares of Senkyo Inc. which operates"Smart Senkyo" at our investee company to Maezawa Fund!‼
~Transfering shares by "Selection and Concentration" with Senkyo's fund-raise~Transfer all shares heldby the Company

Maezawa Fund

Copyright © Air Trip Corp. All Rights Reserved.

55

Appendix“AirTrip 2021” Growth Strategy~ "Restart" ~ New growth strategy after COVID-19~ "AirTrip Group will restart" ~Copyright © Air Trip Corp. All Rights Reserved.

56

FY2021 ”Restart” ~The beginning of the second stage after being listed~

Four years and a half after being listed is considered as “The first stage” and"Restart” FY2021 as “The beginning of the second stage”~ Reducing impairment loss to approximately 7.4 billion yen
and continuing to aim for "AirTrip 5000“~※ Announced in “FY20 Results of operations” (Nov 14th , 2019)

FY16

FY17

FY18

FY19

FY20

FY21～

(After Mar 31st , 2016)

The first stage
After being listed (March 31st, 2016)~ FY20 (Sep 30th, 2020)
Organize the assets related to the first stage
to reduce loss

Copyright © Air Trip Corp. All Rights Reserved.

”Restart” the beginningof the second stage~Restart~
Continue to aim for "AirTrip 5000"

57

FY2021 ”Restart” ~ Image of the second stage after being listed ~"Restart“ FY2021 as “The beginning of the second stage"
Creating new business domain by starting up
healthcare businessContinuing steady growth in 4 existing businessdomains excepting the travel domain

Healthcare
Business

IT offshore Development
Business

Japan Inbound Travel
Business / Wi-Fi Business

Recovering revenue of AirTrip Travel BusinessLife Innovation Business
Investment
Businessthe beginning of thesecond stage after
being listed“Restart”

AirTrip Travel
Business

FY2020
Copyright © Air Trip Corp. All Rights Reserved.

FY2021
58

"AirTrip 2021“ Growth strategy ~ ”Restart” ~ AirTrip Travel business

Revenue expansion focusing on the domestic travel domain byutilizing GoTo Travel~ Definitely capture domestic travel demand by effective digital marketing centered on WEB video
advertising~
Growth strategy of AirTrip Travel business●●

Action plan of AirTrip Travel businessIn the domestic travel domain, we aim at revenue expansion
throughout the year by continuing high rate of growth in 1Q~2Q
with utilizing GoTo Travel, increasing travel demand during GW
in 3Q and increasing travel demand during summer in 4Q.
In the overseas travel domain, we aim at stabilizing by travel
restriction in 1Q~2Q, assuming recovery demand by relaxation
restriction mainly in business travel in 3Q, increasing overseas
airline ticket demand by the effect of Tokyo Olympic andrecovering revenue by cross-selling sales with PCR tests in 4Q(Revenue)

Changes in forecast revenue of AirTrip Travelbusiness FY2021<Measures to utilize GoTo Travel for revenue expansion>・ Strengthen sales of all target products of GoTo Travel
・ Strengthen cross-selling sales of domestic airline ticket anddomestic hotel

Domestic
Travel<Capture demand by digital marketing>・ Acquire new customers by Youtube video advertising
・ Optimize SEM to capture GoTo travel demand

Domestic Travel
Overseas Travel

Overseas
Travel
1Q

2Q

3Q

4Q

<Thoroughly improve UI/UX to increase CVR>
・Optimal design UI/UX for GoTo travel users
・ Provide UI/UX that captures travel demand after
COVID-19(Time)

Copyright © Air Trip Corp. All Rights Reserved.

<Formulate a profit recovery plan by assuming
relaxation restriction>
・ Delivery travel information according to overseas
relaxation restriction information
・ Capture from business travel demand to travel
demand・ Prepare cross-selling sales of overseas travel and
PCR test

59

"AirTrip 2021“ Growth strategy ~ ”Restart” ~Continuing to develop 4 existing business and start up healthcare business

Creating various business portfolio after Covid-19 period~Continuing to develop existing businesses focus on Life innovation and Investment field,
Creating various business portfolio by starting up new healthcare business~●●●

Growth strategy for 4 existing businessand 1 new business
Aim to acquire new customers and increase profit bypromoting various content distribution and renewing thefunction of “MagMag Live”, a Live streaming service operatedby MagMag
The healthcare business (PCR Test Reservation Agent
service) developed by PikaPaka company aim to build profit
basis and gain increasing PCR test demand by expanding
Testing methods (Test at hospital/Office visiting test/Homedelivery test kit) and by various methods to attract customers,
sales promotion.
Other IT offshore development business and overseas travel
aim to establish a business foundation focus on domains
which have prospect to grow in medium and long term bygrasp the need of After Covid 19 period

Action plan for 4 existing and 1 new businessLive
Streaming
Service<Renew functions of Live streaming service>
・To be able to use on not only on app but also on PC
・Expand functions pursuing UX on both streaming sideand viewer side.

<Gain demand by different contents streaming>
・Develop contents such as sport event videos
・Get new customers by large events or live games.

Healthcare
Business<Expand service to meet the increasing PCR test demand>・Acquire demand by expanding test methods (Test at
hospital/Office visiting test /Home delivery test kit)・Attract customers and promote sales both online and offline
・Build test reservation reception system in English andChineseOther
businessbase<Build business portfolio that is expected to grow>・Consider new value provided after corona・Identify business domain with growth potential tofocus onCopyright © Air Trip Corp. All Rights Reserved.

60

“AirTrip 2021” Growth Strategy ~ “Restart” ~ Starting up Healthcare Business as new businessStarting up Healthcare Business as new business baseCut out from the Life Innovation Business and started up as a new business

ヘルスケア事業
Health Care

Copyright © Air Trip Corp. All Rights Reserved.

61

“AirTrip 2021” Growth Strategy ~ “Restart” ”～ Investment Strategy

Continuing to strategically and actively invest on developing domains~Thoroughly understanding the business environment that is expected to change after Covid-19 andcontinuing to actively invest on growing domains that enhance synergy with Group~
Growth Strategy of Investment Business●●●

Accurately grasp changes in the business environment
after Covid-19 and strategically and actively invest on
growing domains that emphasize synergy with our Group
Strategic investment decisions will be focused on (1) How
much synergy can be expected with the Group?, (2) Is ita business domain that can be expected in mid-to-longterm?, and (3) Can we expect early profit contribution?
Aim to improve the accuracy of a series of processes
from M&A target selection to DD → negotiation →contract → PMI, and improve process structure andgrowth rate after grouping<Estimation Key points of strategical investment on investment business>

Synergywith ourGroup

Mid-to-longtermgrowing
domainAction Plan of Investment Business
Strategicaland active
investment<Plan of strategical investment after Covid-19>
・Accurately grasp the business environment after Covid-19
・Determine mid-to-long term growth and profitability of target
domains・Estimate whether investment can cause discontinuos
growth or not

Determine
investment
domains<Identification investment target domain after Covid-19 >・Emphasize synergistic effect with our Group・Determine whether the business area is expected to grow・Quantitatively evaluate the early profit contribution rate afterinvestment

Improve
growthrate after
M&A

Early profit
contribution

Copyright © Air Trip Corp. All Rights Reserved.

<Pursuing growth rate improvement after grouping
through M&A>
・ Systematize a series of processes in M&A
・ Increase the M&A contract rate by committing management
・ Verify the feasibility of synergy with precise DD
・ Improve PMI accuracy and improve growth rate after M&A

62

“AirTrip 2021” Growth Strategy ~ “Restart” ~ Financial Strategy：Maintain healthy financial structure by increasing liquidity

Continuing to maintain the high level of on-hand liquidity~Forecast of the financial health improvement on this term~
Financial Strategy●●

Action plan of Financial Strategy

Maintain a healthy financial structure of the businessenvironment that uncertainty is growing after COVID19 by strategically increasing on-hand liquidity
Action to increase on-hand liquidity: (1) Cut down
entire company’s cash out (2) Visualize the wholegroup on-hand current account balance (3) Byvarious fundraising method, aim to increase financial
health focusing on ensuring cash.
<The transition of Group’s consolidated financial health>Financialstrategy
formulation<After Corona’s financial strategy formulation>
・Capture the business environment after COVID-19
・Raise on-hand liquidity to increase financial health・Increase financial and investment capacity for thedevelopment

Increasingliquidity
plan<Plan to increase on-hand liquidity for maintaining
financial health>・Restrain cash out in entire company.
・Visualize the whole group’s on-hand account balance.
・Consider different fundraising methods.

Mid-tolong term
policy<Mid-to-long term policy to increase on-handliquidity>
・Relatively reduce dependance on travel domain.
・Continue the preparation of listing of 2 main
subsidiaries (IPC/HT)・Establish new revenue basis by growth investment.

Cash

Equity RatioCash

7 billion
yen*End of FY20.4Q

3Q

4Q
Copyright © Air Trip Corp. All Rights Reserved.

63

・These materials contain forward-looking statements related to industry trends and the Company’s business development based on the Company’s current expectations, estimates, and forecasts.
・ A variety of risks and uncertainties are inherent in the assertions made in these forward-looking statements. Known and unknown risks, uncertainties, and other factors may result in differencesfrom the statements included in assertions related to forward-looking statements.
・ The Company’s actual future business and operating performance may differ from the forward-looking statements contained in these materials.
・ The assertions related to forward-looking statements made in these materials are based on the best information currently available to the Company and will not update or revise any forward-

looking statements to reflect future events or conditions.

AirTrip Corp.
(Tokyo Stock Exchange 1st Section：6191)
19th Fl. Atago Green Hills Mori Tower, 2-5-1 Atago, Minato-ku, Tokyo 105-6219
Phone. +81-3-3431-6191
http://www.evolableasia.com