Financial Results Briefing
Material for Q3 FY2024
August 7, 2024
Securities Code：9438
This report contains forward-looking statements on businessperformance based on the judgments, assumptions, and beliefs
of management using the information available at the time.
Actual results may differ materially due to changes in domestic
or overseas economic conditions or changes in internal orexternal business environments or aspects of uncertainty
contained in the forecasts, latent risks or various other factors.
In addition, risk and uncertainty factors include unpredictableelements that could arise from future events.

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Contents
Financial Results Overview
for Q3 FY2024… P2

Image of medium-term profit … P27

Financial highlight
Consolidated P/LConsolidated SG&A
Revision of Full-Year earning forecasts

Appendix …P30

Performance by segment

Future Approach… P18

Basic policies and priority issues for FY2024
Cloud drug record service
Maternal health record book app + Childcare DX services
School DX business

Consolidated B/SConsolidated P/LConsolidated SG&A
Business of segment
Earnings forecast for FY2024
The list of main healthcare services
Overview of healthcare services
Cloud drug record service
Maternal health record book app + Childcare DX services
School DX business

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1Financial Results Overview for Q3 FY2024

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I would now like to give you an overview of the results for the first
three quarters of the fiscal year ending September 2024.

2

Financial highlight１

Q3 Results Flat net sales, substantial increase in profits
YoY

Net sales：2¥20,536 million+398 million+2.0%

Operating income：¥1,752 million+1,770 million-%

Profit attributable toowners of parent：¥2,243 million+1,748 million+353.0%

Revision of Full-year earning forecast upward
Net sales：

3

Percentage change

Change fromthe latest forecast¥27,500 million+500 million

Operating income：¥2,200 million+400 million

Profit attributable toowners of parent：¥2,400 million+650 million

Approach and performance for Q3・Healthcare business：Cloud drug record service is performing well
(Record number of pharmacies that introduced the service )・School DX business： The number of schools introduced in April 2024 led to not only an increasein sales but also a shift to profitability.
Copyrights (c) 2024 MTI Ltd. All Right Reserved

Here are the financial highlights.
(1) Net sales in Q3 increased slightly year on year, and income
improved considerably.
(2) Consider the details of our financial results, we will make upwardrevisions to our full-year forecasts for both net sales and income.
(3) Regarding major initiatives during the third quarter, in thehealthcare business, we saw strong performance from pharmacies
adopting our cloud drug record service, and recorded record results
on a quarterly basis.
In the School DX Business, the number of schools adopting the
BLEND cloud-based school affair support system expanded in April.
We will provide detailed explanations of each specific initiative shortly.

3

Consolidated P/L
Net sales: Flat
Operating income, ordinary income, profit : Substantial increased（ Unit：Mil yen ）Net sales
Cost of sales

FY2023Q3

FY2024
Q3

+398

+2.0%

6,495

5,443

(1,051)(16.2)%+1,449+10.6%(320)(2.3)%+1,770-%+2,211-%+1,748+353.0%26.5%

15,093

ratio

67.7%

73.5%

SG&A

13,661

13,340

ratio

67.8%

65.0%

(17)

1,752

Operating income(0.1)%

8.5%

Ordinary income

151

2,363

ratio

ratio

Percentage

20,53632.3%

Gross profit

Amount20,13813,643

ratio

YoY

0.8%

11.5%

Profit attributable toowners of parent

495

2,243

ratio

2.5%

10.9%

The same period of previous year:
739million Yen: Posting of spot sales ofthe video-streaming service
・ Loss-making projects in the DX support
business for companies have wound
down
・The same period of previous year:
649million Yen :Posting of spot cost of
sales of the video-streaming service
Decrease in personnel and development
costs
Increase in equity method investment
income (+537million yen)

Copyrights (c) 2024 MTI Ltd. All Right Reserved

I would now like to explain the consolidated P/L.
Net sales increased slightly year on year to ¥20,536 million,
reflecting sales through in the healthcare business and DX support
business for companies.
The cost of sales declined significantly.
This was due to the impact of spot cost of sales of the videostreaming service incurred in the same period of the previous fiscal
year disappearing, and unprofitable projects in the DX support
business for companies having ended.
As a result, gross profit increased by 10.6% to ¥15.093 billion.
Operating income significantly increased to ¥1.752 billion due to therise in gross profit and a decrease in selling, general, andadministrative expenses.

Ordinary income amounted to ¥2.363 billion, driven by an increasein equity method investment income.
Profit attributable to owners of the parent for the quarter was¥2.243 billion, resulting from an increase in ordinary income.

4

Consolidated SG&A
Advertising expenses: Increased
Personnel expenses: Exclusion of subsidiary from consolidation
Development costs: Improved development costs for the school DX business（ Unit：Mil yen ）FY2023Q3

FY2024
Q3

YoY
AmountPercentage

13,661

13,340(320)(2.3)%

Advertising expenses

1,569

2,012

+442

+28.2%

Personnel expenses

5,904

5,409

(495)

(8.4)%

Commission fee

2,223

2,135

(87)

(3.9)%

Subcontract expenses

1,513

1,319

(194)

(12.8)%

924

998

+89

+9.9%

1,526

1,466

(60)

(4.0)%

SG&A

Depreciation
Other

Increase in sales promotion
costs for AdGuard
Exclusion of subsidiaries fromconsolidation

Improve development costs(School DX business)

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The breakdown of selling, general, and administrative expenses is asshown.
Overall, it decreased by 2.3% from the same period last year,
amounting to 133.4 billion yen.
This was due to a decline in personnel expenses, slowing ofdevelopment activities in the school DX business and fallingoutsourcing expenses offsetting the increase in advertising expenses
in the content business.

5

Revision of earning forecast of FY2024
All forecasts revised upward（ Unit：Mil yen ）FY2024Full-YearFY2024Full-Year（latest forecast）（actual）

Difference(million yen)（%）

27,00027,500

+500

+1.9%

Operating income

1,800

2,200

+400

+22.2%

Ordinary income

2,250

2,750

+500

+22.2%

Profit attributable toowners of parent

1,750

2,400

+650

+37.1%Net sales

Copyrights (c) 2024 MTI Ltd. All Right Reserved

Based on the results of the third quarter, we will revise the full-year
earning forecast upwards for both net sales and profit.
Net sales has been revised upwards by ¥500 million from theprevious forecast to ¥27.5 billion, operating income has been
increased by ¥400 million to ¥2.2 billion, and profit attributable toowners of the parent has been raised by ¥650 million to ¥2.4 billion.

6Performance by segment

Content
Business・Content service
・Entertainment & Life
・Security-related

・Original comics service

Security

Healthcare
Business
・Healthcare service for
women
・Childcare DX service
・Cloud drug record service
・Online consultation
service, etc.

School DX
Business・School DX service

Other
Business
・AI business・DX support businessfor companies
・Solution service forcorporate

comic

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Next, I would like to explain the performance by segment.

7

Content business : Net sales and operating income
QoQ（Unit：Mil yen）
5,100 5,118
4,639

4,436 4,342※2※1

4,384 4,317 4,289

4,210 4,216 4,202

Net sales: Flat
The number of paying subscribers
remained almost unchanged.
QoQ

Operating income: Flat
Increased in advertising expenses

2,014
1,534

1Q

※1 1,439

1,322 1,328

2Q

3Q

4Q

1Q

FY2022

1,355

2Q

1,210 1,218 1,091 1,169 1,059

3Q

4Q

FY2023
Net sales

Operating income

1Q

2Q
FY2024

3Q

Special factors*1：Net sales & Operating income 717 million yen:
Change in treatment of consumption tax in monthly
content services that award points.
*2：Net sales 739 million yen:
Posting of spot sales of the video-streaming service.

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This is the quarterly trend of the content business.
Due to the number of paid subscribers remaining flat, both net sales
and operating income have continued to be stable.
Net sales for the third quarter was ¥4.202 billion, and operating
income was ¥1.059 billion.

8

Content business : The number of paying subscribers

Total paying subscribers

3.58 million subscribers
5.00

4.81

4.67 4.59

4.48

4.38

4.23 4.16

3.95 3.89

3.80 3.79 3.76 3.73

Total paying subscribers

Flat3.69 3.68 3.63 3.63

3.58

Brisk Security-related app
4.25

4.08 3.96

3.88 3.78

3.69 3.57

3.52

3.33 3.27 3.20 3.20

3.18 3.16 3.14 3.13 3.09 3.10

0.75 0.73 0.71 0.71 0.70 0.69 0.66 0.64 0.62 0.62 0.60 0.59 0.58 0.57

3.07

0.55 0.55 0.54 0.53 0.51

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
FY2020

FY2021

FY2022

Healthcare business

FY2023

FY2024

Content business

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Including healthcare business members, the total number of paid
subscribers reached 3.58 million as of the end of June.

9Content business: Security-related app

The security-related app
continues to perform well

Total paying subscribers

Total paying subscribers

850 thousand subscribers
Four functions

Ad blocking

Trace blocking

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
FY2020

FY2021

FY2022

FY2023Threat blocking

Parent function（Child protection
function）

FY2024

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The number of new subscribers for the security-related app"AdGuard" has been performing well, and the number of paid
members reached 850,000 at the end of June.

10

Content business: Original comics content businessNet sales

Original comics content businessStable trend
・Keep in comic titles introduced

・ Reactionary decline after TV dramatization

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
FY2020

FY2021

FY2022

FY2023

FY2024

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The original comic business is also progressing well.
Net sales also recorded a sharp increase when there was atemporary increase in the number of downloads due to the TV
dramatization of a popular title. There was a reactionary decline
following the TV dramatization but stability overall.

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Healthcare business: Net sales and operating income（Unit：Mil yen）

908

977

1,031

1,184 1,181

1,113

1,239 1,260

1,355

1,011

112

104

1Q

2Q

Operating income:On a positive trend
61

(13)

(46)
(311)

Net sales: growth
QoQ

9

(336)

1,407

QoQ

・Brisk Cloud drug record service(172)(250) (209)

3Q

4Q

1Q

FY20222Q

3Q

4Q

FY2023
Net sales

1Q

2Q

3Q

FY2024

Operating income
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The healthcare business achieved sales of ¥1.407 billion.
The cloud drug record service and childcare DX service performed
well, leading to a steady accumulation of net sales.
Operating profit has remained profitable since the fourth quarter ofthe previous fiscal year. Although there was a decrease in profit
compared to the immediately preceding quarter, the effects ofincreased sales and cost control continued, resulting in an operating
profit of 61 million yen.

12

Healthcare business: Monthly content service

Total paying subscribers(LunaLuna, CARADA medica)

0.51 million subscribers

Monthly subscription content service
Total paying subscribers

Levelled off
0.75 0.73

0.71 0.71 0.70 0.69

0.66 0.64

0.62 0.62 0.60

0.59 0.58 0.57

0.55 0.55 0.54 0.53

0.51

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
FY2020

FY2021

FY2022

FY2023

FY2024

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The number of paying subscribers in the healthcare business was
mostly unchanged at 510,000.

13

Healthcare business: Cloud drug record service

+207

2,297

2,297

pharmacies
introduced

2,090
1,923
1,793

Total introduced pharmacies

1,639
1,532

Steady expansion

1,382
1,264

64

Cloud drug record service

1,096
978
864
765
633
573
451
357
285
163

Record high on a quarterly basis

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
FY2020

FY2021

FY2022

FY2023

FY2024
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The number of pharmacies implementing the cloud drug record
system is expanding smoothly.
The number of new installations in this quarter reached a record
high of 207 stores, bringing the total to 2,297 stores.

14

School DX business: Net sales and operating income
Increased revenue
at the start of theschool year

（Unit：Mil yen）

364
272
150
55

154

155

270

260

QoQ

260

Net sales: Expansion

153

65

57

QoQ
Up-front investment(121)(107) (99) (82)

(79)

3Q

2Q

(111)

(246)

Operating income:Returning to profit(214)(302) (305)
1Q

2Q

3Q

4Q

1Q

FY2022

2Q

4Q

FY2023

Net sales

1Q

FY2024

3Q

Significant reduction in losses comparedto the same period last year

Operating income
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Sales for the School DX business reached ¥364 million.
The BLEND full-cloud school affair support system recorded
increased sales compared with the previous quarter, reflecting a
sharp increase in the number of schools adopting the system in April
to coincide with the start of a new academic year.
Operating profit reached ¥57 million. Increased sales and reduced
development costs enabled the company to turn profitable in thethird quarter.

15

School DX business: Cloud-based school affairs support system

Total introduced schools
775

541

The number of schools
introducing our services
is progressing wellPrivate high school share

340

expanded to 35%

114

April,

2021年4月
2021

April,

2022
2022年4月

April,

2023
2023年4月

April,

2024
2024年4月
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The number of schools introducing the system is progressing
smoothly, with a total of 775 schools now implemented. The market
share in private high schools has expanded to 35%.

16

Other business (Includes DX support business for companies, AI) :Net sales and operating income（Unit：Mil yen）

1,473
1,261 1,277

1,205

1,102

1,190 1,227 1,183 1,221

1,590

QoQ

1,282

Net sales: GrowthOrders in the corporate DX support business increased
210
55

(36)

(140)

(178)

(251)

QoQ

Operating income:On a positive trend(87)(397) (393) (413) (413)

Orders in the corporate DX support business increased
1Q

2Q

3Q

4Q

1Q

FY20222Q

3Q

4Q

FY2023

Net sales

1Q

2Q

3Q

FY2024

Operating income
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Sales for the other businesses amounted to ¥1.59 billion, with anoperating profit of ¥210 million.
Due to the expansion of orders in the corporate DX support business,sales grew, and operating profit increased from the second quarter.
That concludes the financial summary for the third quarter.

17

Future Approach

Copyrights (c) 2024 MTI Ltd. All Right Reserved

Next, I would like to explain our future approach.

18

Basic policies and priority issues for FY2024

１. Healthcare business

Further sales growth・ Further expansion of the Cloud drug record service
・ Promotion of the platform strategy of the childcare DX, "Boshimo"

２. School DX business

Further sales growth・Expansion of the number of introduced schools

3. Content business

Securing profit
・ Original comics content business growth・ Security-related app growth

Copyrights (c) 2024 MTI Ltd. All Right Reserved

In each segment, we will focus on priority issues based on thefollowing basic policies, respectively.
・In the healthcare business, we aim for further sales growth andachieve profitability for the full fiscal year. Specifically, we will focus
on expanding the Cloud drug record service and advancing theplatform strategy for the childcare DX.
・In the School DX business as well, we aim for profitability in thesecond half through further sales growth.
・ In the content business, while the number of monthly paid
subscribers remains steady, we aim to ensure profitability across thesegment through the growth of security-related apps and theoriginal comic business.

19

Healthcare business: Future approach
Connecting pharmacies and patients

Cloud drug record service

Connecting parenting households
and municipalities & hospital
Maternal and child health handbook app+

Childcare DX services

B2B service for pharmacy

B2BtoC service for municipalities

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I will now explain the initiatives related to the cloud drug record
service and the childcare DX service within our healthcare business.

20

Healthcare business: Cloud drug record service

New functional services
the automatic summary function has been well received
To further improve operational efficiency

Medication guidance navigation

Automatically extracts
necessary items forthe medical record＋

AI automatic summarization feature
Other functions
・Connecting the drug histories possessed by different pharmacies
・ Additive Logic
・ Home care and nursing functions
・ Planning to add electronic prescriptions and other functions as needed● Continuing to strengthen cooperation in sales ●Collaboration with a major prescription pharmaceutical wholesaler* “corte” was jointly developed by our subsidiary
Solamichi System Inc. and by corte Inc.
* "Corte" is a registered trademark of Corte Inc.

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In the cloud drug record service, the number of dispensing
pharmacies that have introduced the service has expanded steadily.
In addition to functional enhancements in response to changes inlaws, we have continuously developed features to improve the work
efficiency of pharmacists.
From April, an AI-based drug record creation support feature wasadded.
The system records conversations between pharmacists andpatients at a pharmacy, classifying necessary information in the drug
record by item based on the details of medication guidance provided,and automatically generates a summary.
By using this feature in conjunction with the existing “Medication
Guidance Navigation” feature, pharmacies can expect to achieve
further operational streamlining.
The feature has been reviewed favorably by pharmacists who haveactually used it.

We will continue to strengthen our collaboration with Medipal
Holdings, a leading pharmaceutical wholesaler, to communicate theconvenience of these new features to dispensing pharmacies.

21

Healthcare business:
Maternal and child health handbook app + Childcare DX services

Introduction smoothly:
the childcare DX services at municipalities using “Boshimo”
Phase2Phase3

Online consultation

Childcare DX services

85

171

Phase1

Maternal and childhealth handbook app

629

Tailwind for the“Accompanying Support
Program”*

1Q

3Q

FY2017

1Q

3Q

FY20181Q

3Q

FY20191Q

3Q

FY2020

1Q

3Q

FY2021

1Q

3Q

FY2022

1Q

3Q

1Q

3Q

FY2023 FY2024

4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
FY2020

FY2021

FY2022

FY2023

FY2024

1Q

2Q

3Q

FY2022

4Q

1Q

2Q

3Q

FY2023

4Q

1Q

2Q

3Q

FY2024* Transferred to “Children and Families Agency” from April 1,2023 .
Copyrights (c) 2024 MTI Ltd. All Right Reserved

The maternal and child health handbook app "Boshimo" has been
implemented in 35% of municipalities nationwide.
At the end of June, the number of installations reached 629.
The number of installations for the online consultation service has
decreased to 85, as demand has stabilized after the COVID-19
pandemic.
On the other hand, the demand for the childcare DX service
continues to be high, with the total number of implementations
increasing to 171 by the end of June.
This is also backed by the government's efforts to support thedigitalization and DX of childcare services.

22

Healthcare business:
Maternal and child health handbook app + Childcare DX services

Childcare DX ser vices
・ Questionnaire and reservation
form functionality
・ Childhood immunizations(Digital preliminary examination slip , etc.)

・ Infant health checkup
・ Visits to all households with infants
・ Pregnancy checkups andpregnancy notification

Functions

Digitalization and cooperationof municipal services with medical
institutions in the childcare field
Effects

Municipal
Data linkage
Data linkage

e.g. : Infant healthcheckup service

Reducing the burden on parents,
municipalities, and medical
institutions through data linkage
Values“Boshimo” app

Guardian
Data linkage

Immunization
facilities
Health checkvenue

Promoting municipal childcare
DX and improving the local
childcare environment
Copyrights (c) 2024 MTI Ltd. All Right Reserved“Childcare support” has become one of the challenges facing society.
Through our childcare DX service, we digitize procedures for various
services offered by municipalities .
Digitizing these procedures eliminates the need for parents tosubmit documents.
In addition, since not only municipalities and parents but also local
medical institutions can link their data, the interactions between
parents, municipalities and medical institutions can also be simplified,
reducing the hassle and workloads involved.
Going forward we will continue to expand the childcare DX service
business by promoting its adoption by municipalities.

23

School DX business

Motivation Works Inc.

Connecting students and teachers

Full-cloud school affairs support system

Copyrights (c) 2024 MTI Ltd. All Right Reserved

Next, I would like to explain more about the school DX business.

24

School DX business：Full-cloud school affairs support system

Motivation Works Inc.

A world with

FunctionsEliminating all negatives

・ Fully cloud-based centralized management of data
・ Data linkage without returning to the staff room
・ Data linkage with parents and guardians

Teachers-only
functions

Effects
General Public
Functions・ Reducing workload for school affairs
・ Reducing system management costs
ValuesTeachers’ terminal

Students’ terminal

Parental
Cooperation

Create an environment that enables
concentration on essential education
through the provision of school DX services

Copyrights (c) 2024 MTI Ltd. All Right Reserved“BLEND” is a revolutionary full-cloud school affair support systemthat eliminates the inefficiencies in school administration.
As it is fully cloud-based, it can not only be used within a school, but
can also link information with the parents of students as needed.
As teachers can input data on the spot instead of having to return tothe staff room, multiple sets of administrative data can be centrally
managed.
In addition to linking data in real-time, the solution improves
administrative costs.
By reducing the workload on teachers, the system helps create anenvironment that allows them to focus on their core educational
duties.

25

School DX business：Full-cloud school affairs support system

Image of medium-term profit

Motivation Works Inc.

Continuing increase in the numberof schools introducing our service

PlannedGrowthopportunities

・Accumulatiion of projects expected to be
new introducing in April 2025
・Government driving DX for school affair
unit by prefectural area
Differentiation
FY2021 FY2022 FY2023 FY2024 FY2025 FY2026

Cloud-based batch services

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Here is an image of medium-term profit for the school DX business.
There continues to be strong interest in adopting full-cloud schoolaffair support systems among private schools.
We have also steadily secured new projects leading up to
introduction in April next year.
Government-lead efforts to promote school affair DX in prefecturalareas have also seen progress, leading to a favorable external
environment.
We will achieve growth in sales and profit by further expanding thenumber of schools adopting systems that leverage the advantagesof fully cloud-based solutions.

26

Image of medium-term profit

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Next, I will explain the image of medium-term profit.

27

Image of medium-term profit
Our Group

Healthcare business（by segment）

Focus on expansion of stock sales (=profit)

Content business

School DX business
Sharp growth in a short period of time

Other business(Includes DX support business forcompanies, AI)

Factors affecting profit
Healthcare business

School DX businessGovernment promotion of digitalization / DX in mother and child health information(Improving the childcare environment is a pressing issue )⇒ Accelerated introduction of digital maternal and child health handbook and childcare DX
Government driving DX for school affair in prefectural areas(Improving efficiency in school administration is a pressing issue)⇒ Accelerated introduction of full-cloud school affairs support systems
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The image of medium-term profit is as follows.
The Group has focused on investing resources in the healthcare
business and school DX business, using the cash cow generated by
the content business as a source of funding.
In the short term, we expect the school DX business to exhibit thefastest business growth.
We managed to move the school DX business into the black in thethird quarter.
Going forward we will continue efforts to expand the number ofschools adopting our “BLEND” solution.
In the healthcare business, we have started to see the effects ofmany years of business development, and finally achieved
profitability from the first quarter of this period.
We expect profitability in the full-year results, reflecting efforts togrow sales with the cloud drug record and childcare DX services asdrivers.
In the medium term, we believe the healthcare business will
become a driver of profit growth.
By expanding recurring sales in each business, we aim to achievesustainable growth Group-wide.

28

〈Contact us〉
Investor Relations Officee-mail: ir@mti.co.jp
https://ir.mti.co.jp/eng/

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Thank you for your time.

29