Financial Results Briefing
Material for 2022
November 10, 2022

This report contains forward-looking statements on business performance 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 oroverseas economic conditions or changes in internal or external business environments or aspects of uncertainty contained in
the forecasts, latent risks or various other factors. In addition, risk and uncertainty factors include unpredictable elements that
could arise from future events.

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Contents
P.01 Financial Results
Overview for 2022
02 Financial highlight
03 Consolidated P/L

04 Consolidated SG&A
05

Achievement Ratio for
Earnings Forecast

06 Performance by segment

P.16 Approach in FY2023
18 Basic policies and priority issues
for FY2023
19 Cloud drug record service

21 Maternal health record book app+ Childcare DX services
27 School DX business
30 Image of medium-term profit
31 Earnings forecast for FY2023

P.34 Capital policy
P.37 Appendix
38
39
40
41

Consolidated B/SConsolidated P/LConsolidated SG&A
Business of segment

42 The list of main healthcare services
43 Overview of healthcare services
44 Cloud drug record service
47 Maternal health record book app
49 School DX business
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Financial Results Overview for FY2022

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I would now like to give you an overview of the results for the fiscal year
ending September 2022.

1

4Financial highlight１

FY2022 Results

・Net sales: ¥26,479 million(Up 2.9％, YoY, Last earnings forecast +¥679 million)

・Operating income: ¥870 million
2(Down 54.9％, YoY, Last earnings forecast +¥570 million)

FY2022 Achievements and initiatives
・ Healthcare business : Expansion in introduction of cloud drug
record service and childcare DX services
・ School DX business: The number of schools that introduced
DX systems rose sharply.

3

Earnings forecast for FY2023
・Net sales ¥26,000 million
・Operating income ¥800((1.8%), YoY)((8.1%), YoY)

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2Here are the financial highlights.
Consolidated net sales amounted to 26,479 million yen.
This was a slight year-on-year increase and 679 million yen more than themost recent earnings forecast.
Operating income was 870 million yen.
This represents a decrease of 54.9% year on year and is 570 million higher
than the most recent earnings forecast.
Looking at the results of initiatives in FY2022, in the Healthcare business,
the number of pharmacies introducing our cloud drug record service andthe number of municipalities introducing childcare DX services bothincreased and the number for schools introducing school DX services alsorose sharply.
I will be discussing our initiatives in each area in greater detail, later on.
We have set earnings forecast for fiscal year 2023 which are mostly
unchanged year on year, forecasting net sales of 26,000 million yen andoperating income of 800 million yen.

Consolidated P/L
Net sales : slight increased
Operating income : decreased（Unit：Mil yen）

FY2021YoY

FY2022

AmountNet sales

25,743

26,479

Cost of sales

7,001

7,787

27.2％

29.4%

（ratio)Gross profit

18,741

18,691（ratio）

72.8%

70.6%

SG&A

16,811

17,820（ratio）

65.3%

67.3%

Operating income

1,929

870

（ratio）

7.5%

3.3%

Ordinary income

1,370

485

（ratio）

5.3%

1.8%

(1,164)

(930)

-

-

Profit attributable toowners of parent（ratio）

Percentage

+736

+2.9%

+786

+11.2%(50)(0.3)%+1,008+6.0%(1,059)(54.9)%(884)(64.5)%+233-%

Expansion in DX
support business forcompanies
Decline inprofitability in partof the business
above
Increase in personnel
for development.
Increase inoutsourcing expenses.
(School DX business)

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3

I would now like to discuss the consolidated P/L.
Net sales rose slightly year on year, to 26,479 million yen.
Sales growth in the DX Support business for companies offset sales decline
in the Content business caused by a decrease in the number of monthly
paying subscribers.
Gross profit stood at 18,691 million yen, mostly unchanged year on year,
reflecting an increase in the cost of sales.
Operating income and ordinary income stood at 870 million yen and 485
million yen, respectively, due to higher SG&A expenses, mainly attributable
to increases in personnel expenses and subcontract expenses associatedwith reinforcement of development in the School DX business.
Loss attributable to owners of parent came to 930 million yen, reflecting therecording of extraordinary losses such as impairment loss, which offset
lower income taxes.

Consolidated SG&A：
Personnel expenses : increased（Unit：Mil yen）

FY2021SG&A

FY2022

YoY
AmountPercentage

16,811

17,820+1,008

+6.0%

1,517

1,580

+62

+4.1%

7,099

7,718

+619

+8.7%

Commission fee

3,157

3,094

(63)

(2.0)%

Subcontract
expenses

1,804

2,136

+332

+18.4%

Depreciation

1,132

1,352

+219

+19.4%

Other

2,100

1,937

(162)

(7.7)%

Advertisingexpenses
Personnel
expenses

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The breakdown of consolidated SG&A is as shown on page 4.

Increase in personnel
for development(particularly in school
DX business)

Stricter requirements
for the posting ofsoftware assets(School DX business)4

Achievement Ratio for Earnings Forecast
Net sales ～ Ordinary income : Changed in treatment of consumption tax
Profit: Recorded impairment loss
（Unit：Mil yen）

FY2022

FY2022

Forecast

Actual

25,800Operating income

Difference

Achievement
rate

26,479+679

102.6％

300

870

+570

290.2%

Ordinary income

(100)

485

+585

-

+717:
Change intreatment ofconsumption tax
in monthly content
services thataward points.(Q4)

Profit attributableto owners of parent

(190)

(93)

(740)

-

(897):
Impairment loss

Net sales

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5

I would now like to explain the reasons for the differences between theactual results and earnings forecasts for FY2022 shown here.
In the Content Business, we recorded an extra 717 million yen in net sales
during the fourth quarter, due to a change in the treatment of consumption
tax in content services that award points.
Net sales, operating income and ordinary income were all better than themost recent earnings forecast, improving by 679 million yen, 570 million
yen and 585 million yen, respectively.
The loss attributable to owners of parent was 740 million yen larger thanforecast, reflecting the recording of 897 million yen in extraordinary losses,
including the impairment of software assets, during the fourth quarter,
which offset the positive impact of the change in treatment of consumptiontax.

Performance by segment

Content Business

Healthcare Business

Other Business

BtoC/BtoB

BtoC/BtoB/BtoBtoC

BtoB

Content distribution
service

Existing healthcare service
New healthcare service

AI service , DX service ,School DX service
For corporate solution
service

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Next, I would like to discuss performance by segment.

6

Content business: Net sales and operating income（Unit：Mil yen）
18,851

Levelled off
sales and profit

18,518

6,200

5,940

＋： Original comics are growing,
Changed in treatment ofconsumption tax－：The number of paying
subscribers decreased

FY2021
Net sales

FY2022
Operating income

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7

In the Content business, net sales and operating income were both mostly
unchanged year on year.
This was because year-on-year decline in the number of paying subscribers
was offset by the recording of extra net sales as a result of the change intreatment of consumption tax explained earlier.

Content business: The number of paying subscribers

Total paying subscribers

3.79 million subscribers
4.48

3.78

4.38

3.69

4.23

4.16

3.95

3.89

3.33

3.27

3.80

3.79

Degree of decrease
is being reduced
・Brisk Security-related apps

3.58

3.52

3.20

3.20

・Mostly unchanged from theprevious quarter
0.70

0.69

0.66

0.64

0.62

0.62

0.60

0.59

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

FY2021
Healthcare business

FY2022
Content business* The number of paying subscribers are including healthcare business ‘Luna-luna and ‘Caradamedica’ whose business model are monthly paid business above.
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8

As of the end of September, the number of paying subscribers stood at 3.79
million.
Though down year on year, this figure is mostly unchanged from theprevious quarter thanks to a strong performance in terms of new subscriber
registrations to security-related apps.

Content business: Security-related app

Security-related apps are growing
Over 440 thousand people

Four functions

Ad blocking
1Q

2Q

3Q

FY2021

4Q

1Q

2Q

3Q

Trace blocking

4Q

Threat blocking

Parent function（Child protection
function）

FY2022

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As of the end of September, the number of paying subscribers to security
related apps had grown to 440,000.

9

Content business: Original comics content businessNet sales

Stable growth
The serialization of
hit titles contributed
Keep in comic titles introduced

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

FY2021

FY2022

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10

Net sales in the original comics content business showed stable growth due
to multiple hit titles in serialization.

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

4,030

3,791

Net sales increased+：Expansion of Cloud drug record service－: The number of paying subscribers
decreased(1,267)
FY2021
Net sales(1,108)FY2022
Operating income

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11

In the Healthcare business, we registered 4,030 million yen in net sales andan operating loss of 1,180 million yen.
Net sales increased year on year thanks to the sales growth of our cloud
drug record service, which offset year on year decline in the number ofpaying subscribers.
However, the Healthcare Business reported an operating deficit, continuing
to be weighed down by expenses associated with upfront investment.

Healthcare business: The number of paying subscribers

Healthcare paying subscribers(LunaLuna, CARADA medica)

0.59 million subscribers

0.70

1Q

0.69

2Q

Mostly unchanged fromthe previous quarter

0.66

0.64

0.62

0.62

0.60

0.59

3Q

4Q

1Q

2Q

3Q

4Q

FY2021

FY2022

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The number of paying subscribers in the Healthcare business was mostly
unchanged year on year, falling by 10,000.

12

Healthcare business: Cloud drug record service

1,264
Pharmacies
introduced

+168
1,264

Steady expansion
in the number ofpharmacies that
introduced the service
Q4: Record-breaking quarterly
net increase

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13

The cumulative number of pharmacies that have introduced the cloud drug
record service is expanding steadily, reaching 1,264 in September.
The fourth quarter saw a record-breaking net increase of 168.

Other business (Includes DX support business for companies,
AI, School DX):
Net sales and operating income
5,262
4,350
171

（Unit：Mil yen）

426

School DX business

1,568

AI business

3,268

DX support
business forcompanies

1,678

2,500

FY2021

Sales expansion
・DX support business for companies
・School DX business
Operating loss
・The cost of sales rose in
the DX support businessfor companies
・Upfront investments inschool DX business
Status of each business

FY2022・DX support business for companies:
Increase in cost of sales
・School DX business: Large-scale upfront
investments(105)(1,667)

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14

In Other business, net sales grew 21.0%, year-on-year, to 5,762 million
yen.
This sales growth is attributable to significant growth in orders in the DX
Support business for companies and the School DX business.
However, the operating loss widened, reaching 1,667 million yen.
This result reflects the rising cost of sales in the DX Support business forcompanies and large-scale investment associated with increased customers
in the School DX business.

Other business: School DX business
Cloud-based school affairs support system

The number of schools introduced

Total

340

3timesschools

226

114

114

FY2021

FY2022

ActualActual

Sharp increase in thenumber of schools
introducing the DX system

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15

In the School DX business, take-up of the cloud-based school
administration support system “BLEND” was good and the total number ofschools introducing the system increased sharply to 340, tripling year on
year.
Our energetic sales promotion activities in face of rapidly growing demand
for solutions to migrate school functions to the digital sphere and to thecloud have paid off.

Approach in FY2023

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Next, I would like to explain initiatives for FY2023.

16

Segment reorganization
Established “School DX business（FY2023~）
Content
Business・Content service(Entertainment & Life content)

・Original comics service

Security

Healthcare
Business
・Healthcare service for
women
・Childcare DX service
・Cloud drug record service
・Online consultation
serviceS c h o o l DX
Business・School DX service

Other
Business
・AI service
・DX support service
・For corporate solution
servicecomic

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17First, we are going to change our business segments.
Previously, we have operated across three segments: the Content Business,
Healthcare Business and Other Business segments; however, from FY2023,
we will have a total of four segments, making the School DX Business,
which was previously included in the “Other Business” segment, into aseparate independent segment due to the significant impact of the School
DX Business on profit and loss.

Basic policies and priority issues for FY2023
1. Healthcare business: Further sales growth① Further expansion of the Cloud drug record service② Promotion of the platform strategy of the childcare DX, "Boshimo"

2. School DX business: Further sales growth① “BLEND” version upgrade② Increased number of schools introduced in April

3. Content business: Securing profit① Original comics content business growth② Security-related app growth

4. Other business: Sales growth① AI business expansion② DX support business expansion
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18

In each segment, we will focus on priority issues based on the following
basic policies, respectively.
- In the Healthcare Business, we will continue to aim for further sales
growth.
More specifically, we will focus on further expanding the cloud drug record
service and will also promote the childcare DX platform strategy.

- Similarly in the School DX Business, we will aim for further sales growth.
We will upgrade our cloud-based school administration support system“BLEND” and engage in active marketing activities to increase the numberof school using the system in April, when the new semester starts.
- In the Content Business, the decline in the number of paying subscribers
has slowed but we plan to generate profit in the segment as a wholethrough growth in security-related apps and the original comic business.
- In Other Business, we will expand orders in the AI business and DX
support business.

Healthcare business: Cloud drug record service
Connecting pharmacies and patients

Cloud drug record service

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19

Next, I would like to discuss progress targets regarding the introduction of
our cloud drug record service in the Healthcare business.

Healthcare business: Cloud drug record service
Increasing the number of pharmacies that introduce
cloud drug record by strengthening cooperation in sales
・Collaboration with a major prescription
pharmaceutical wholesaler
Aim for

2,000
pharmacies
introduced
FY2023⇒ Sharing more sales
information andimproving efficiency

1,264

・ Collaboration with large system companies
that provide services to pharmacies
・・・

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

FY2021

・Commenced partnership with
Mitsubishi Electric IT Solutions Corporation
・Commenced partnership with
FUJIFILM Healthcare Systems Corporation

FY2022

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20

As in the previous fiscal year, we will continue to cooperate in sales with ourbusiness partner MEDIPAL HOLDINGS CORPORATION.
Our target number of pharmacies using the service as of the end of thecurrent fiscal year is 2,000.

Healthcare business:
Maternal health record book app + Childcare DX services
Connecting parenting households and local governments

Maternal health record book app+ Childcare DX services

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Next, I would like to discuss our progress targets for the maternal healthrecord book app “Boshimo” and childcare DX services.

21

Healthcare business:
Maternal health record book app + Childcare DX services

Development of the platform businessstarting with the maternal health record
book app "Boshimo"Phase 1：Introducing Maternal healthrecord book app “Boshimo”
Phase 2：Online consultation
Phase 3：Childcare DX services

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By expanding the Childcare DX service business, notably the childhood
vaccination management service, we will pursue the transformation of“Boshimo” into a platform.

22

Healthcare business:
Maternal health record book app + Childcare DX services
Phase 1,2 : Maternal health record book app ”Boshimo” & Online consultation

Seeking to establish the Boshimo app as the standard app
P has e2 Online consultation

P has e1 Maternal health record book app

65
As of September, 2022

500

As of September, 2022

+86 YoY

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
FY2017FY2018FY2019FY2020

FY2021

FY2022

4Q

1Q

FY20202Q

3Q

FY2021

4Q

1Q

2Q

3Q

4Q

FY2022

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23

The number of municipalities introducing “Boshimo” stood at 500 at the endof September.
The vaccination schedule function is popular and is becoming more andmore widely used by municipalities across Japan.

Healthcare business:
Maternal health record book app + Childcare DX services
Phase 3︓Childcare DX services

Steady expansion in orders received
including ordinance designated cities
I nfant health check, Childhood immunization, Questionnaire reservation form, Reservation function
⾃治体
Municipality tool Municipal

Boshim o Childcare DX
I nfant health check service

Gu住⺠
a rd ia n

Exchanging digitalprelim inary exam ination slipn iza tion facilities
and health check records I mHmeaulthch eck ven u e

Immunization facilities tool
“Boshimo” app

24

The Childcare DX service is steadily becoming established.
The scope of this Childcare DX service is not restricted to parents andmunicipalities but also extends to the sharing of data with medical
institutions such as neighboring pediatric clinics and health centers.
Through this, we seek to bring DX to services like childhood vaccinations,infant health examination appointments, and visits to all households with
infants.
Following the introduction of this service for childhood vaccinations in
Ichihara City in November 2021 and introduction of a pregnancy reportfunctionality in Kitakyushu City in April 2022, we plan to introduce thisservice for infant health checks in Kitakyushu City and Fukuoka City next
fiscal year, and Childcare DX functions are expanding.
The service is highly rated by municipalities that have introduced it andorders including orders from ordinance designated cities are steadily
growing.

(TOPICS)
Healthcare business: Healthcare services for women①

Brisk “LunaLuna Pill prescription app”

Downloaded more than 18 million times

Procedure can be completed on a smartphone
Online consultation for the pill

BtoC
Brand power and subscription strategy
Regular deliveries of low-dose pill after online consultation

Around99% ofusers
intend tocontinue
using

Quick increase insubscribers

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25

Next, I would like to discuss topics in the Healthcare business.
The “LunaLuna pill prescription service”, launched in February, got off to agood start.
The “LunaLuna pill prescription service” is a subscription-based service
through which a low-dose pill is delivered every month following an online
consultation.
Users of the low-dose pill, aimed at reducing period pain and birth control,
are increasing year by year in Japan.
We believe that the number of subscribers to the “LunaLuna pill prescription
service” through the free app, which has been downloaded 18 million times,
will increase in the future.

(TOPICS)
Healthcare business: Healthcare services for women②①Established LIFEM Inc.
CARADA medica Inc.
(subsidiary）(Investment ratio：40%)

Merged company(Investment ratio：51%)(Investment ratio：9%)②Provision of LunaLuna office service (BtoBtoC)
Supporting working women at work
Provision of seminars for women foreach stage of their lives
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26

Furthermore, in July, we established LIFEM Inc., a joint venture with
Marubeni Corporation and our subsidiary CARADA Medica Inc., as part ofhealth services for women.
With many women aware that menopausal symptoms negatively affecttheir work performance, companies are taking a growing interest in
Femtech, to support working women.

LIFEM will promote the construction of a system through which companies
support the improvement of working women’s health issues and become aleading company that helps achieve a society where women can work
comfortably.

Motivation Works Inc.

School DX businessConnecting students and teachers

Cloud-based school affairs support system

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Next, I would like to explain more about the School DX Business.

27

School DX business

Cloud-based school affairs support system

Motivation Works Inc.

Conceptional image of a risein the number of schools introducing the system

Rapid increase inorders received

XtimesXtimesCollaboration on sales with sales agents~ Launched of partnership with KDDI ~3times 340
114

FY2021

FY2022

FY2023

FY2024

ActualActual※PlannedPlanned*The result for FY2022, reflects the actual number of schools that introduced the system as of June 30, 2022.
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With the digitalization of school administration becoming a matter ofurgency, demand for the cloud-based school administration system has
grown dramatically.
We have formed sales collaborations with distributors and an alliance with
KDDI and aim to further increase the number of schools using the system
this fiscal year.

28

School DX business

Cloud-based school affairs support system

Motivation Works Inc.

Aiming to achieve standardization (an educational IT platform)
Image of medium-term profit

Net sales : Reflects linkage to an increasein the number of schools introducing thesystemoperating income : Priority is given to
upfront expenses.
－ Development of a new version to respond to a
sharp increase in demand－ Increase in the number of human resources
through the enhancement of organizational systems

FY2021

FY2022

FY2023

FY2024

ActualActualPlannedPlanned

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Our medium-to-long term growth projections for the School DX businessare as shown here.
Net sales will grow in conjunction with expansion in the number of schoolsthat introduce “BLEND”.
Operating income is expected to remain in the red for the time being due toupfront costs.
Expenses for the development of new versions to meet rapidly growing
demand will increase, as will subcontract expenses and personnel expenses
to secure the personnel needed to strengthen the business structure.

Image of medium-term profit(by segment)

Content business

Healthcare business

Degree of decrease in the number of paying subscribers is reduced
Focus on highly in-demand contents

Focus on expansion of stock sales (=profit)

School DX business
Sharp growth in a short period of time

Other business(Includes DX support
business for companies, AI)
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Our medium-to-long term earnings projection is as shown here.
The School DX business is expected to achieve the fastest business growth,followed by the healthcare business as another growth driver.
The medium-to-long-term earnings projection for the Group as a whole is
as shown here and we believe that the Healthcare Business will be a driverof profit growth in the medium and long term.
By focusing on the steadily expanding cloud drug record service and theChildcare DX service, we aim to achieve “sustainable growth” throughgrowth in the subscription-based sales of each service.

Earnings forecast for FY2023

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Next, I will discuss our earnings forecast.

31

Earnings forecast for FY2023

Both net sales and income are
expected to be mostly unchanged¥26,000million

down 1.8%, YoY

Operating income¥800million

down 8.1%, YoY

Ordinary income¥400million

down 17.7%, YoY

Profit attributableto owners of parent¥(600)million

Net sales-%, YoY

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As in the previous fiscal year, we will seek to improve the overall deficit
through sales growth in the Healthcare Business and sales growth in the
rapidly expanding School DX Business.
We forecast net sales of 26,000 million yen, operating income of 800
million yen, ordinary income of 400 million yen, and loss attributable toowners of parent of 600 million yen.

32

Earnings forecast for FY2023（Unit：Mil yen）

FY2022 (Actual)

FY2023 (Forecast)

YoY
AmountFull year

Ratio
Full year

13,300(479)(1.8)%

3,800

3,800

(187)

(2.4)%

18,400

8,900

9,500

(291)

(1.6)%

17,600

8,700

8,900

(220)

(1.2)%(70)(8.1)%(85)(17.7)%+330-%

Full year

H1

H2

Full year

H1

H2

26,47912,975

13,50326,00012,700

7,787

3,814

3,972

7,600

Gross profit

18,691

9,160

9,530

SG&A

17,820

8,561

9,259

Net sales
Cost of sales

Operating income

870

599

271

800

200

600

（Ratio）

3.3%

4.6%

2.0%

3.4%

1.6%

4.5%

Ordinary income

485

292

193

400

0

400

（Ratio）

1.8%

2.3%

1.4%

1.9%

0.0%

1.1%

Profit attributable toowners of parent

(930)

123

(1,053)

(600)

(740)

140

-

1.0%

-%

-%

-%

1.1%

（Ratio）

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Details of the earnings forecast are as shown here.

33

Capital Policy

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Details of the earnings forecast are as shown here.

34

Capital Policy
We aim for continuous growth insales and profit, and for harmonizingthem with returns to shareholders.
Interimdividend

FY2021
FY2022（Forecast）¥8¥8Year-end
dividend¥8

Annualdividend¥16（Scheduled）（Scheduled）

¥8

¥16

※ A Dividend at the end of FY2022 are to be referred to the 27th general shareholders’ meeting on December 24, 2022.

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35

The basic policy for MTI’s capital policy is aiming for sustainable growth insales and profit in the medium and long term, and for harmonizing themwith returns to shareholders.
In the interest of offering stable dividends to shareholders, we have set the
year-end dividend for fiscal year 2022 at 8 yen per share.
We expect the dividend payout for fiscal year 2023 to remain unchanged,
year-on-year.

〈Contact us〉
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