Supplementary Explanation of
Financial Results for the First Quarter
Ended June 2024
- Final Year of Medium-Term Management Plan “NEXT ‘S 2025 ” Startia Holdings, Inc.
TSE Prime

3393

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

section

01
01 FY 2025 1Q
Overview of Group Consolidated Results(1)Group Consolidated(2)IT infrastructure segment(3)Digital Marketing segment

02

Appendix(1)Topics(2)Company Profile©2024 Startia Holdings, Inc. ALL Rights Reserved.

1. FY 3/2025 1Q
Group Consolidated
Financial Results

TSE Prime

1. 1Q FY2025 Group
Consolidated Performance(1)Group Consolidated

3393

FY 2025 1Q

Consolidated PL Summary (YoY Comparison)

1Q Sales Set New Record Highest. Operating Income and Ordinary Income Progress Above Plan!
A Good Start to Achieve the Final Year of the Medium-Term Management Plan.
(Unit: Million Yen)

1Q FY2024

1Q FY2025

Change

YoY

Sales

4,934

5,258

+324

+6.6%

Gross profit

2,305

2,320

+14

+0.7%

Operating profit

634

533

△101

△16.0%

Ordinary profit

649

589

△60

△9.3%

Quarterly Net Income to
Parent Shareholders

436

489

+53

+12.2%EBITDA

733

654

△79

△10.8%©2024 Startia Holdings, Inc. ALL Rights Reserved.

4

Sales and Operating Income
Sales reached record highs in the first quarter, with Recurring revenue steadily building up.
Operating income exceeded the 1Q plan! *Profit increased in the first quarter of the previous year due to special
demand from Multifunction peripherals distributors.
1Q Sales Trends

1Q Operating Income Trends(millions of yen)
Consolidated net sales
Digital M Business Recurring revenue
IT infrastructure segment electricity Recurring revenue
IT infrastructure segment Recurring revenue (excluding electricity)

6,000
5,000

Sales of electricity
decreased significantly fromthe previous fiscal year due
to the lack of price passthrough due to the decline
in electricity procurement
costs

4,000
3,000
2,000

SaaS
Sales
increase

3,433
2,758

2,342

559

1,688
452
364
1,236

700

629

2,490

634

600

533

400

727

538

359

299

1,313

1,354

1,464

RecurringSales
increase

300

192

200
100

986

0

0
21/3
1Q

1Q of the current fiscal
year Progress
above plan

500

2,409

1,350

1,000

1Q of the previous fiscal
year Multifunction
peripherals agency
special demand

5,258

4,934

4,635

(millions of yen)

22/3
1Q

23/3
1Q

©2024 Startia Holdings, Inc. ALL Rights Reserved.

24/3
1Q

FY 25/3
1Q

△143

-100
-200

△39
22/3
1Q

21/3
1Q

23/3
1Q

24/3
1Q

25/3
1Q

5

Segment Profit Trend
IT infrastructure segment's profit decreased year on year due to special demand, but progress exceeded plan.
Digital M is progressing towards profit accumulation
1QIT Infrastructure Segment Profit Trend

1Q Digital M Segment Profit Trend(millions of yen)

1Q of previous period
Multifunction peripherals
agency special demand

600(millions of yen)

Subscription is steadyProfit accumulation

554

381

500
400

114

150

277

300

100
200
100

50

73

21/3
1Q

10

0

FY 23/3
1Q

32

0
22/3
1Q

-100
-200

22/3
1Q

23/3
1Q

24/3
1Q

21/3
1Q

25/3
1Q

FY 24/3
1Q

25/3
1Q

-50 (Fiscal year announced)△ 154(Fiscal year announced)©2024 Startia Holdings, Inc. ALL Rights Reserved.

-100

△ 87

△ 95
6

Quarterly Results
Sales are progressing as planned.
Operating income is in the black every year after monetization, despite higher hiring costs for new employees.
(millions of yen)(millions of yen)

21,200Net sales
20,0042,500

Operating income(Plan)(Plan)

19,571

2,282

20,0002,200

16,011

5,268

5,147

1,724

5,135
4,939

4,031

1Q

4,516

512

353

387

654

1,400

10,000

4Q

2Q

1,800

15,00013,324

3Q

639

3,884
3,317

5,162

4,973

Planned Progress
24.8%

4Q

(Actual)

3,218
2,758

3,558

5,000
1Q ratio

3,433

4,635

4,934

＋6.6%

5,258

2Q

FY 21/3

FY 22/3

FY 23/3

FY 24/3

FY 25/3

ActualActualActualActualActual(Actual)

631

21

1Q
0

©2024 Startia Holdings, Inc. ALL Rights Reserved.

344

3Q

153
△143

8
2

385
167
△168

1,000
Planned Progress
21.3%

634
△39

1Q ratio△16.0%

600

533
200

192

-200

FY 21/3

FY 22/3

FY 23/3

FY 24/3

FY 25/3

ActualActualActualActualActual7

FY 2025 1Q Consolidated PL Summary (Comparison of Plans)Seasonality tends to be overemphasized in the 2 and 4 Qs
Steady Progress Toward Achievement of Final Year of Medium-Term Management Plan

(Units: Million Yen)

1Q FY2025

2Q Plan

2Q Plan Progress
Rate

Full-Year Plan

Full-Year Plan
Progress Rate

Sales

5,258

10,52050.0%

21,20024.8%

Operating profit

533

1,200

44.4%

2,500

21.3%

Ordinary profit

589

1,200

49.1%

2,500

23.6%

Quarterly Net Income

489

792

61.7%

1,650

29.6%

to Parent Shareholders©2024 Startia Holdings, Inc. ALL Rights Reserved.

8

FY ended March 2025 1Q BS Summary(Unit: Million Yen)

Current Assets

End of March 2024 End of June 2024

Change11,56010,848△711

Cash and Deposits

7,366

7,023

△343

Tangible Fixed Assets

232

255

22

Intangible Fixed Assets

1,470

1,434

△35

1,001

983

△17

Investments and Other Assets

1,426

1,329

△97

Total Assets

14,68913,867△821

Current Liabilities

6,135

5,343

△791

Borrowings

2,436

2,382

△54

1,735

1,449

△286

1,715

1,435

△280

Total Liabilities

7,871

6,792

△1,078

Total Net Assets

6,818

7,075

256

Total Liabilities and Net Assets

14,68913,867△821

Software

Non-Current Liabilities
Long-Term Borrowings©2024 Startia Holdings, Inc. ALL Rights Reserved.

Notes and accounts receivable
Inventories
Accounts receivable
Other current assets

:△121
:△157
:△395
:△198

Goodwill :△18
Software :△17

Accounts payable – trade
Current portion of long-term debt
Accounts payable
Income taxes payable
Provision for stock benefits

:△189
:△54
: +44
:△313
:△140

9

1. 1Q FY2025 Group Consolidated Performance(2)IT infrastructure segment©2024 Startia Holdings, Inc. ALL Rights Reserved.

IT infrastructure segment: In one-time revenue, sales of network equipment related products were particularly strong. Sales of business phones andMultifunction peripherals also grew steadily. In Recurring revenue, sales of electricity decreased due to the impact of thecancellation of the electricity contract in the previous fiscal year, but sales of other products steadily increased.
Segment profit : Although it decreased compared to the previous year when there was a special demand by Multifunction peripherals distributor,
it grew steadily compared to the plan and the previous year.
*Cost reduction due to Multifunction peripherals's volume discount effect
Sales(Unit: Million Yen)

1Q FY2024

1Q FY2025

Change

YoY

4,092

4,363

+270

+6.6%

2,379
1,713

2,600
1,763

+220
+50

+9.3%
+2.9%

1,354

1,464

+110

+8.1%

Segment profit

554

381

△172

△31.2%

Head office expenses

269

313

+44

+16.4%

Sales
one-time revenue
Recurring revenue(Recurring revenue
excluding power)

Before deducting the burden of head
office expenses Segment profit

823

695

△128

△15.6%EBITDA

587

417

△170

△29.0%©2024 Startia Holdings, Inc. ALL Rights Reserved.

Comparison of operating results(millions of yen)
Sales
Before deduction of head office expenses
Segment profit

4,363

4,092

3,941

823

695

466

FY 23/3 1Q

FY 24/3 1Q

FY 25/3 1Q

11

IT infrastructure segment YoY Difference Analysis

1Q Net Sales

1Q Segment Profit Change

one-time revenue
Recurring(millions of yen)(millions of yen)

5,000
△

4,500

△

4,000
3,500
3,000
2,500

695

△

2,379
(58.1% of total)

2,600(59.6% of total)

2,000
1,500
1,000

1,713
(41.9% of total)

500

1,763
(40.4% of total)

0

FY 24/3 1Q Results©2024 Startia Holdings, Inc. ALL Rights Reserved.

FY 25/3 1Q Results*Segment profit in the graph is before deduction of head office expenses, etc.
*In SG & A expenses, (△) minus indicates an increase in expenses and a decrease in profits,and (△) plus indicates a decrease in expenses and an increase in profits.

12

IT infrastructure segment Recurring revenue Sales
Sales of mainstay products such as network equipment and internet connection expenses increased in
Recurring revenue, and sales of electricity decreased due to the impact of the cancellation in the previous
fiscal year.

(millions of yen)

Electricity
Other products

2,000
1,800
1,600
1,400
1,200
1,000
800
600
400
200
0

Sales increased due to passthrough of higher electricity
purchase prices (higher fueladjustment costs, etc.).

1,851
538

1,313

Procurement costs forelectricity services weresignificantly reduced,
contributing to cost reductions.
This resulted in a significant
decrease in sales, but had no
impact on profits.

1,763

1,713

299

359

1,354

Other thanelectricity
Recurring
revenueYear-on-Year+8.1%

FY 23/3 1Q Results FY 24/3 1Q Results©2024 Startia Holdings, Inc. ALL Rights Reserved.

Infrastructure Recurring
revenue sales share

Other

12%
Other thanelectricity
Recurring
revenue
performed well

1,464

FY 25/3 1Q Results

MFP

Electricity

17%internet connection
expenses

24%

35%
NW

12%

*Results for the first quarter offiscal year ended March 202513

IT infrastructure segment Major KPIs

Number of Recurring Merchandising Companies * 1

Decrease in the number of single-product customers due to the cancellation of electricity customers from theprevious fiscal year.Increase in the number of multiple-product customers due to promotion of Upselling andCross-Sell to existing customers.
Number of multi-commodity trading companies in
Recurring

23,29923,35023,307*2

17,862

18,033

18,291

23,21323,15423,253

23,58624,156 24,095*418,494

10,510
9,819

9,873

9,875

10,431
*4

*3

8,500

8,565

22/3
1Q

22/3
2Q

8,704

8,810

8,827

8,878

8,963

9,012

22/3
3Q

22/3
4Q

23/3
1Q

23/3
2Q

23/3
3Q

23/3
4Q

24/3
1Q

24/3
2Q

24/3
3Q

24/3
4Q

25/3
1Q

*1: Calculate the number of companies billing at the end of the quarter and the number of companies billing for two or more products.
*2: Add business transfered from 1Q to 22/11 of 23/3 (number of transacting companies)*3: Add the number of multiple transacting companies for business transfered from 1Q to 22/11 of 24/3 (number of multi-product transacting companies)*4: Add the number of multiple transacting companies for M & A from 4Q to 23/10 of 24/3 (number of transacting companies and number of multi-product transacting companies)©2024 Startia Holdings, Inc. ALL Rights Reserved.

14

1. 1Q FY2025 Group Consolidated Performance(3)Digital Marketing segment©2024 Startia Holdings, Inc. ALL Rights Reserved.

Digital Marketing segment
Sales: one-time revenue struggled due to weak orders for web production.
SaaS tools increased steadily and Recurring revenue increased.

Segment profit: Both EBITDA and segment profit increased to surplus from 1Q(Unit: Million Yen)

1Q FY2024

1Q FY2025

Change

YoY

841

894

+52

+6.3%

212
629

167
727

△44
+97

△21.2%+15.5%

Segment profit

32

114

+81

+251.9%Head office expenses

87

78

△8

△10.3%

Sales
one-time revenue
Recurring revenue

Before deducting theburden of head office
EBITDA

120

192

+72

+60.6%

89

181

+92

+103.4%Comparison of operating results(millions of yen)
Sales
Before deduction of head office expenses
Segment profit

894
841
693

192
120

△ 12
FY 23/3 1Q©2024 Startia Holdings, Inc. ALL Rights Reserved.

FY 24/3 1Q

FY 25/3 1Q

16

Digital Marketing segment YoY Difference Analysis

1Q Net Sales

1Q Segment Profit(millions of yen)

one-time revenue
Recurring(millions of yen)

1,000

192

900
800
700

167
212

(18.7% of total)(25.2% of total)

600
500
400
300

629

727

(74.8% of total)(81.3% of total)

FY 24/3 1Q Results

FY 25/3 1Q Results

200
100
0

*Recurring revenue consists of SaaS tool sales, SaaS tool operation support sales,
and other Recurring revenue (Internet advertising related business, etc.).

©2024 Startia Holdings, Inc. ALL Rights Reserved.

*Segment profit in the graph is before deduction of head office expenses, etc.
*In SG & A expenses, (△) -negative means increase in expenses and decrease in profits,
and positive means decrease in expenses and increase in profits.

17

Digital Marketing segment

ARR results

Up 16.3% YoY, with the addition of price increases in the previous 4 Qs

YoY +16.3%(millions of yen)

3,500
2,834 2,859

3,000
2,500

2,000
1,500

1,295

1,392

1,498

1,650

1,772

1,874

2,159

2,166

2,169

2,321

2,428

2,458

2,544

2,565

3,186

(Plan)

1,966

1,000
500
0

21/3

21/3

21/3

21/3

22/3

22/3

22/3

22/3

23/3

23/3

23/3

23/3

24/3

24/3

24/3

24/3

25/3
25/3

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

Tools Price Increase (2022.12)©2024 Startia Holdings, Inc. ALL Rights Reserved.

1Q

Tools Price Increase (March)*1 ARR: Quarter-end MRR (subscription sales) x 12

18

Digital Marketing segment Key KPIs (1)MA*3 tools continue to drive business and MRR*1 has increased to 238 million yen!
Average customer churn rate for the past 12
months * 2

Cloud CIRCUS MRR*1
MRR
MRR with 2 or more products installed (Cross-Sell MRR)

250

200

Year-on-Year +16.3%(millions of yen)

238

236

181

193

181

Year-on-Year+10.5%

150
101

102

112

104

112

1.6%

214

212

205

202

As of the end of 1Q

112

110

123

(As of the end of the same period last year: 1.8%)

124

MRR * 1

100

Other

50

7% MA related
26%

CMS related

38%

0

23/3

23/3

23/3

23/3

24/3

24/3

24/3

24/3

25/3

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

*(1) MRR is monthly subscription revenue at the end of each quarter.
*(2) Average number of licenses cancelled during the month divided by the number of licenses as of the end of the previous month for each month in the last 12 months.
*(3) Marketing Automation omitted.
©2024 Startia Holdings, Inc. ALL Rights Reserved.

AR related

16%

12%

ActiBook related

19

Digital Marketing segment Key KPIs (2)MRR * 1 for SaaS tool (excluding optional tool operation support) increased to 190 million yen!
Number of Licenses * 2

Cloud CIRCUS MRR * 1 Breakdown (Tools/Operations Support) * 1

Tools Operations Support
Tools

250

236

193

200

180
156
44

181

48

52

202

205

181

163
55

150

52

52

212

214
50

51

50

49

6,500

6,000

49
5,500

5,793
5,710 5,751

5,990 6,005
5,902 5,868 5,938

6,067

5,289
5,093

50
5,000

47

117

238

5,611

YoY +24.1%

100

112

YoY +3.4%

YoY +16.3% YoY(millions of yen)

125

129

131

145

151

153

161

164

186

190

4,500
4,000
3,500

0

3,000
22/3 22/3 22/3 23/3 23/3 23/3 23/3 24/3 24/3 24/3 24/3 25/3

22/3

22/3

22/3

23/3

23/3

23/3

23/3

24/3

24/3

24/3

24/3

25/3

2Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

*1 MRR is the monthly subscription revenue at the end of each quarter.

©2024 Startia Holdings, Inc. ALL Rights Reserved.

2Q

3Q

4Q

1Q

*2 Number of licenses is the number of paid licenses at the end of each quarter.

20

Digital Marketing segment Key KPIs (3)The number of companies introducing two or more focused products continued to increase. As expected, the number ofcompanies introducing a single product decreased due to price hikes for some tools.
Unit cost per customer (ARPU) * 1

Number of customers (paid active users)
Number of companies with a single product
Number of companies with two or more products

Customers with two or more products ARPU
Customers with a single product ARPU

YoY +2.2%(thousands of yen)

5,000

4,000

140

3,570 3,651

3,798

3,955 3,923 4,005 4,046
3,843 3,859 3,908

4,003 4,010

YoY +3.6%

120

100
101

3,000

2,000

2,973
2,760 2,801

2,889 2,922 2,916

108

80

120
113

110

119

YoY +13.8%

60
40

1,000

1,037
850

109

110

115

2,982
2,957 2,978 2,951 3,017 3,046

YoY+6.7%
810

104

110

114

909

921

943

951

977

972

988 1,000 1,021

0

44

45

47

47

47

50

51

52

53

53

59

59

20
0

22/3 22/3 22/3 23/3 23/3 23/3 23/3 24/3 24/3 24/3 24/3 25/3

22/3 22/3 22/3 23/3 23/3 23/3 23/3 24/3 24/3 24/3 24/3 25/3

2Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

*1 ARPU= MRR/Number of subscribers at end of each quarter©2024 Startia Holdings, Inc. ALL Rights Reserved.

21

section

02
01 FY 2025 1Q
Overview of Group Consolidated Results(1)Group Consolidated(2)IT infrastructure segment(3)Digital Marketing segment

02

Appendix(1)Topics(2)Company Profile©2024 Startia Holdings, Inc. ALL Rights Reserved.

2. Appendix

TSE Prime

2. Appendix(1)Topics©2024 Startia Holdings, Inc. ALL Rights Reserved.

3393

Topics: 1Q of FYE March 2025

IT Infrastructure

April

StartiaRaise's data linkage tool "JENKA" starts to work with OpenAI's "GPT -4 Turbo"!

Digital M

CSM tool "Fullstar" won "Leader" for the first time in "ITreview Grid Award 2024 Spring" Customer Success Tool Category (SME Category) "!

Digital M

CloudCIRCUS's MA tool "BowNow" won "High performer" in the MA Category "ITreview Grid Award 2024 Spring"!

Digital M[CloudCIRCUS] Signed agency agreement with Adish for "Fullstar" customer success tool

IT infrastructure

StartiaRaise's RPA "RoboTANGO" won Leader in 3 categories at "ITreview Grid Award 2024 Spring"

Digital M[5/29] Sponsored by CloudCIRCUS, free online conference

Digital M[CloudCIRCUS × Yaokin] Talk about Umaibo fan market! At the conference "com/PASS" sponsored by PLAN-B, held on 6/13

Digital M[New Service] AI Chatbot "IZANAI-OpenAI" Now Available at Low Price! CloudCIRCUS

Digital M[CloudCIRCUS and Kakecom Co-Hosted Seminar 7/2] Explanation of concrete measures for web skimming!

Others[New Service] Innovate overseas IR videos with generated AI!

Digital M[CloudCIRCUS's CSM tool "Fullstar" ranked 16th among more than 10,000 service groups in "ITreview Best Software in Japan 2024"!

Others[7/3] Waichi Iida from StartiaWill will speak at the Kumamoto Seminar for supporting companies that employ people with disabilities!

May

June

IT infrastructure[Event Report] New Graduate Recruitment Challenges Poker, Startia's New Step

©2024 Startia Holdings, Inc. ALL Rights Reserved.

24

Topics: IT infrastructure segment"JENKA," a data linkage tool provided by StartiaRaise, starts to link with OpenAI's "GPT -4 Turbo"!
In April 2024, "JENKA," a data linkage tool provided by StartiaRaise, started to link with OpenAI's "GPT -4 Turbo." By implementing connectors that link "GPT -4 Turbo"
with various adoption of cloud services services, it becomes possible to improve the efficiency of back-office operations. Work proceeds smoothly by automating thetranslation and summarization of received email text and the subsequent data organization.

©2024 Startia Holdings, Inc. ALL Rights Reserved.

25

Topics: Digital Marketing segment[New Service] AI chatbot "IZANAI-OpenAI" is now available at a low price! CloudCIRCUS Corporation
In June 2024, CloudCIRCUS developed and released "IZANAI-OpenAI," an AI chatbot.
"IZANAI-OpenAI" is an AI chatbot that automatically generates answers based on learning data by simply registering a PDF or URL. CloudCIRCUS
will provide this service to small and medium-sized companies that have given up using chatbots or generated AI due to the cost burden or lack ofhuman resources, thereby improving productivity and operational efficiency.

©2024 Startia Holdings, Inc. ALL Rights Reserved.

26

Topics: Other Businesses[New Service] Innovate overseas IR videos with generated AI!
In June 2024, we launched an overseas IR video production service using generative AI. We faithfully reproduce the images and voices of executives
We produce IR videos in which AI avatars make presentations in native English in a short period of time and at a low cost. Executives' English skills
are not required, and once an AI avatar is created, videos can be produced using only text and other materials without taking pictures.
〈 Features 〉
・Natural and expressive presentation in native English with AI avatars
・Subscription-based, low-cost, accurate and speedy production
・Flexible production system to meet diverse needs

AI avatar of our representative, Hideyuki Hongo
Overseas IR presentation video ▼Startia Holdings, Inc. Fiscal Year Ending March 2025 Business Strategy Presentation

URL: https://www.youtube.com/watch?v=iu6prgMJOqQ©2024 Startia Holdings, Inc. ALL Rights Reserved.

27

TSE Prime

2. Appendix(2)Corporate Profile©2024 Startia Holdings, Inc. ALL Rights Reserved.

3393

Management Philosophy and Vision

Management
Philosophy
Creating the Future of People and Companies by Identifying Social Needs and Markets
Becoming a Leading Company that Produces Excellent Businesses and Human Resources

Vision"A world where everyone can take onchallenges and make lasting progress"
A group that supports change as a matter ofcourse for many people and companies whiletransforming themselves©2024 Startia Holdings, Inc. ALL Rights Reserved.

Mission"Creating Opportunities for the Future"
We will realize a world filled with challenges by
providing opportunities for many people andcompanies to realize a positive future29Company Profile

Company Name

Startia Holdings,Inc.

Address

Shinjuku Monolith 19F, 2-3-1 Nishi-Shinjuku, Shinjuku-ku, Tokyo

Establishment

February 1996

ListedTokyo Stock Exchange Prime (April 4, 2022)
Tokyo Stock Exchange First Section (February 28, 2014)
TSE Mothers (December 20, 2005)

Representative Director

Hideyuki Hongo

Group Companies

11 consolidated subsidiaries, 2 equity-method affiliates

President and Chief Executive Officer

Hideyuki Hongo

Employees

966 consolidated employees (as of June 30, 2024)

Financial Results

March 31

Born May 1966
Established the Company in 1996 to the present(Shareholding of 25.88% of the Company)*Excluding directors, corporate auditors, temporary employees and part-time employees

Capital

¥

.

mi i

(a

fJ

,

)

Individuals Other
Foreign corporations, etc.

Number of shares issued

6.97%
12.96%

10,240,400 shares (as of June 30, 2024)
4,117 (as of June 30, 2024)

2.33%

70.70%

Financial institutions

Number of shareholders

7.04%

Financial instruments business
operators
Other corporations©2024 Startia Holdings, Inc. ALL Rights Reserved.

Shareholders as of June 30, 2024

30

Key Members

Hideyuki Hongo
President and CEO, Startia Holdings
・Founded in 1996, appointed President and CEO (to present)
・In 2018, established an organization to provide non-refundable scholarships
Established Hoshinowa Public Interest Incorporated Foundation, appointed
President (to present)
・In 2018, established Kumamoto Innovation Base(formerly Kumamoto Creation Entrepreneurs Network), appointed President(to present)
Efforts to recover from the 2016 earthquake in his hometown Kumamoto, as
well as regional revitalization

Mitsuru Kasai
Director, Startia Holdings and President, Startia
・2002 Joined the Company
・Launched Multifunction Machines Business in 2007
Subsequently focused on expansion of distributors and M & A
Continued to expand the Group's customer base・2018 Appointed President and Representative Director of Startia, the axis of IT
infrastructure segment(current position)
・2021 Appointed President and Representative Director of StartiaLead

Takao Uematsu Director, Startia Holdings

Kenichi Kitamura
Director, Startia Holdings and President, CloudCIRCUS

・2004 Joined the Company
Since joining the Company, he has been mainly engaged in finance andaccounting operations
and has been responsible for various corporate divisions, including
finance and accounting.
・Appointed to Director in 2018 (current position)
Engaged in public relations and investor relations as Group CFO

・2001 Joined the Company
Launched web and e-book businesses in 2004
・Starty Lab as an in-house venture in 2009
Established (currently CloudCIRCUS) and assumed the position ofRepresentative Director (current position)・Integrated sales of various tools from 2020 Digital Marketing
Rebranded as SaaS tool CloudCIRCUS

Masakatsu Furukawa President, StartiaRaise・1996 Joined the Company as a founding member and assumed the position of
Director・Established Network adoption of cloud services business in 1998
・Developed Back Office DX business in 2018
Appointed President and Representative Director of StartiaRaise (current
position)・In 2021, he became a joint venture with kubell (formerly Chatwork Corporation).
Director of kubell Storage Corporation (formerly Chatwork Storage Technologies
Corporation) (current position)©2024 Startia Holdings, Inc. ALL Rights Reserved.

31

Group Companies
About the Company Group (11 consolidated subsidiaries and 2 equity-method affiliates)
IT infrastructure segment * 1

Digital Marketing * 1*1: Consolidated Subsidiaries
Equity method affiliates

Group sites

Startia Co., Ltd.

NOS Co., Ltd.

SapporoKubell Storage Co., Ltd.
CloudCIRCUS Co., Ltd.

Cloud Storage

Provision of Cloud CIRCUS, amarketing and sales support tool
StartiaLead Co., Ltd.

BC Media Co., Ltd.
MAC Office Co., Ltd.
Office Facilities
Fujifilm BI Nara Co., Ltd.
g’a
i g ai : . %*It is a joint venture with Fujifilm Business
Innovation Japan Co., Ltd.

Business Service Co., Ltd.

Sendai

Office Relocation and Design

Koriyama

Other * 1

Aizu
Fukushima
Takasaki

System integration, security measures,
Communications systems, OA equipment sales

Startia Asia Pte.Ltd.

Saitama

NagoyaTokyo

Business Management andInvestment in Singapore and Asia

Nara
HimejiBack Office DX Business * 1

Chiba

Fukuoka
Kumamoto

Osaka

StartiaWill Corporation
StartiaRaise Co., Ltd.
Solutions for Operational Efficiency

Provision of RPA and AI-OCR

C-design Co., Ltd.
Electronic signature service andbusiness support
Operation of platform service
cocrea©2024 Startia Holdings, Inc. ALL Rights Reserved.

Consulting for contracting services
and employment of people withdisabilities for the Startia Group

Yokohama

Wakayama

Kagoshima

Okinawa32

Major products and services

Defensive DX

IT infrastructure segment

Proactive DX

Digital Marketing segment

One-stop solution for IT issues and DX for SMEs

Cloud CIRCUS tool to change marketing and sales results

Cost reduction, operational efficiency and productivity improvement

Customer acquisition and sales expansion

Offices while reducing costs
OA equipment for infrastructure
comfortIP telephony

VPN

Protect your company's
information assets
Network security

Increase productivity bycreating a comfortablenetwork environment

Office environment

Cost reduction

Riskmanagement
Business
improvement

Earth-friendly and clean
LEDs that reduce energy andelectricity consumption

adoption of cloud services yourcore systems

Make up for the talent shortage with
Robotics RPA services

RPA services©2024 Startia Holdings, Inc. ALL Rights Reserved.

33

Results of major Digital Marketing segment services
Installation More than 470 million AR app downloads.
Creating high customer experiences with VPS
results
and rich 3D.

14,000 + reports

Numberinstalled

7,500

Easy-to-use marketing automation
BowNow is an MA tool with a simple designthat is equipped with the necessary functions
for first MA installations.

Installation results
As of July 2024

Share ofdomestic MA
installations

Other
3.0%
Share in MA category

No.1
Klaviyo

8,500

Delivering the appeal and story of products andservices and developing fans.
From smartphone camera without app
Easy and intuitive AR experience.
After taking measures, log analysis andimprovement activities can be performed.
Promotions that attract customers are realized.

Installed: 19,000 or more
From creation to distribution in threesteps e-book Creation Tool

Customer Rings

From e-book to video,

Oracle Eloqua

BowNow

HotProfile
Demandbase

22.7%

a tool that makes it easy to turn content into electronic
content.

SHANON
B-dashKASIKA

HubSpot
15.9%

Kairos3 MA
4.0%

List Finder
5.3%
SATORI
5.8%

Adobe Marketo

Account Engagement

Engage

15.1%

8.4%

※ Data Source: Survey conducted by DataSign(Source) Let me know URL 2024.7 https://oshiete-url.jp/report/docodoco/2024_7/#marketing_automation©2024 Startia Holdings, Inc. ALL Rights Reserved.

Installed: 2,300 or more
CMS that makes it possible to win businessnegotiations from the homepage
Not only is it easy to use, but it also provides comprehensive support for
strategies, construction, and tools for BtoB companies to create businessnegotiations from the homepage
A domestic CMS that provides comprehensive support for BtoB companies.
※

A CMS is a website and the system that operates its contents34

Digital Marketing segment Main Service Pickup Fullstar

Number of
Installed

1, 500 or more cases

No. 1 market share in FY 2023 revenue forecast *Digital Adaptation Platforms Market - Under 100~300 Employees:
Revenue Share and Market Share by Vendor (Forecast for FY 2023).

What is Fullstar?
Fullstar is a customer success tool that provides adoption of cloud services
service users with a better experienceby displaying "operation guides" and "visualizing places where users stumble"
to solve problems.

This is amazing (1)(Number)

Set up operation guide for any website without code
Creation time is reduced to 1/10 of the previous one!

1,800
1,600
1,400
1,200

Fullstar

This is amazing (2)User usage can be visualized and customers who are likely tocancel the service can be picked up. Cancellation prevention!!
Productivity improvement!! No development burden!!
Pick up the most likely customers.

1,000
800
600
400

This is amazing (3)2000Analyze where users stumble and why they leave.
Improve UX of web services※ Source: ITR "ITR Market View: Communication and Collaboration Market 2023" Digital Adaptation Platforms Market - Under
100~300 Employees: Revenue Share by Vendor (Forecast for FY 2023)©2024 Startia Holdings, Inc. ALL Rights Reserved.

35

Growth of Digital Marketing segment Cloud CIRCUS“ As of June 24, the total number of installations exceeded 57 thousand *.
60,000LP Builder
CMP

50,000Fullstar
40,000IZANAI
Plusdb30,000

BowNow
20,000

BlueMonkey

LESSAR

10,000

COCOAR

24年4月

24年1月

23年10月

23年7月

23年4月

23年1月

22年10月

22年7月

22年4月

22年1月

21年10月

21年7月

21年4月

21年1月

20年10月

20年7月

20年4月

20年1月

19年10月

19年7月

19年4月

19年1月

18年10月

18年7月

18年4月

18年1月

17年10月

17年7月

17年4月

0

ActiBook*Including freemium

36Trends in Net Sales and Operating Income

Sales (Left axis: bars)
Operating Income (Right axis: curves)

IT infrastructure
segment(New and newly
established)

DigitalMarketing

IT infrastructure
segment(M&A)

4/1 Fujifilm BI Nara
Start of Business(Joint venture with Fujifilm
Business Innovation Japan)

Through Subsidiary
Integration
CloudCIRCUS Established

Growth since IPO (CAGR): Average annual growth rate
Joint Venture with
Chatwork Established
Chatwork Storage
Technologies

12.6%

Sales
Operating income(millions of yen)

20,000Business Services
Become a Wholly
Owned Subsidiary

3,500

SD21/Yoshida StoreBusiness
Accepted to establish
StartiaLead

12.6%

3,000
2,500

BC Media,
NOS
Became a wholly-owned
subsidiary

2,000

MAC OfficeBecame an equity method
subsidiary

10,0001,500
Starty Lab
Spin-off

Providing Digital Tools
IMC Division established

1,000
500

0

0
05/3

06/3
06/3 07/3

08/3

09/3

10/3

Listed on TSE Mothers©2024 Startia Holdings, Inc. ALL Rights Reserved.

11/3

12/3

13/3

14/3 15/3
15/3

16/3

17/3

First Section of TSE Market Change

18/3 19/3
19/3

20/3

Became a Holding Company

21/3

22/3

23/3

24/3 25/3
25/3
24/3

Previous Period

Current Plan

Medium-Term Plan NEXT’S 2025
37

Public Relations and Investor Relations Contact for Startiaholdings
19F Shinjuku Monolith, 2-3-1 Nishi-Shinjuku, Shinjuku-ku, Tokyo 163 0919
TEL : 03-5339-2109 (weekdays 9:00 to 18:00)
MAIL:ir@startiaholdings.com
Investor Relations Website: https://www.startiaholdings.com/ir.html*IR Mail Delivery Registration QR CodeNew information about IR, such as news releases and financial results,
will be sent to subscribers.
New information about IR will be sent via email.

This material has been prepared by the Company to provide you with a better understanding of the Company's current situation. The information contained in this material is taken fromthe Company's internal knowledge and publicly available information, and the Company does not guarantee its accuracy. The Company's actual results may differ depending on various
factors going forward.

©2024 Startia Holdings, Inc. ALL Rights Reserved.

38