Medium-termManagement Plan
“DX Action 2024”
August 12, 2021

© 2021 Cross Marketing Group Inc. All rights Reserved.

Contents
1.

Overview of Group2.

External Environment3.

Overview of Medium-term Management Plan

4.

HR Strategy, SDGs

5.

Capital Policy, etc.

6.

Company Culture

7.

Appendix© 2021 Cross Marketing Group Inc. All rights Reserved.

Overview of Group

Copyright©2021 Cross Marketing Group Inc. All rights Reserved.

１．Overview of Group

Overview of Company（As of June 30, 2021）

Company Name

Cross Marketing Group Inc.

President & CEO

Miki Igarashi

Established

April 1, 2003

Established Cross Marketing Group Inc. andshifted to a holding company on June 3, 2013

CapitalJPY 646,709,000

Business

Digital Marketing, Data Marketing, Insight

AffiliatedCompany

Consolidated subsidiaries : 31 companies
Equity method affiliates : 2 companies

Number of
Employees[Consolidated]

1,354（Including 238 temporary staff）
Copyright©2021 Cross Marketing Group Inc. All rights Reserved.

4

Introduction toRepresentative Director,
President and CEO
Miki Igarashi
Profile1973 Born in Tokyo
1996 Graduated from the Faculty of Economics of
Keio University

1996 Joined Japan Asia Investment (a VC)
2000 Established an Internet company and was
appointed as director

2003 Established Cross Marketing2008 Cross Marketing was listed on the Mothers
section of the Tokyo Stock Exchange

2018 Listing changed to First Section of the Tokyo
Stock Exchange
External Positions
RareJob, Inc.
Outside director

Japan Marketing Research Association
Deputy chairman

１．Overview of Group

Company Philosophy

Our wish is for customers’ success.
In identifying issues, in planning solutions, and in presenting proposals.
Everything is to achieve the customer’s dream. To approach the envisioned future.
The process is exciting. The goals make the heart pump.
Clear the path, lead the way to tomorrow, and create the future.

That is the Cross Marketing Group’s mission.

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6

１．Overview of Group

About Cross Marketing Group

Collect data on
consumers efficiently

Insight business

Analyze and understandconsumers’ “why?”

Digital marketingbusiness

Market research

Data marketingbusiness

Offline researchInternet researchMarketing process that supports customers

We are a comprehensive marketing solution company that supports customers to solve awide range of issues related to marketing, starting with market research.

* Consumers’ “why?”: Fundamental factors driving
spending behavior that consumers aren’t evenaware of

PDCA

Implementation support
based on data andunderstanding

IT solutions
Promotion

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7

Business Transition

１．Overview of GroupA Group that introduces DX and digitizes services in the Data Marketing Business, InsightBusiness and Digital Marketing Business, underpinned by an analysis of consumers’ WHY,and can provide Marketing DX Solutions.
Since 2021, we have reinforced a digital shift and DX support as we aim for further growth.

Internet
ResearchMarketing
Solution

MarketingResearch
Internet research+
Offline researchMarketing
Solution

Marketing×
DX Solution
DigitalTransformation

Marketing research+Consultancy+
IT solutions
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8

Primary Business Development
and Earnings Fluctuations

１．Overview of Group

Expand business fields with establishingsubsidiaries and M&A, and extend further into
areas of expertise(Unit: Million yen)

20,000Net sales (lefthand axis)

18,000Operating income (righthand axis)

16,00014,00012,00010,000Market capitalization (lefthand axis)

Change to holding company
structure～Began aggressively
pursuing M&A to expand
business fields～

Listed on the Mothers
section of the Tokyo Stock
Exchange

18,965
16,811

17,225

17,692

17,472

3,000
2,500

15,074

10,81911,1832,000

15,664
13,711

7,510
5,085

6,000
2,000

Market change to First Section of TSE

13,740

8,000
4,000

Changes to business segments～Support for DX transformation in clientcompanies’ marketing, with a focus on the digitalmarketing business～

2,700
1,388

3,082
1,427

3,775

5,695

2,969

2011/6

2012/6

8,048

1,500

8,673

1,000

7,324

5,698

3,781

7,189

500

0

0
2009/6

2010/6

2013/6

2014/6

2015/6

2016/62017/62018/6

2019/62020/62021/6

Marketing solutions (acquisition of D&M, Inc. and DO HOUSE Inc.)
Overseas expansion (establishment of local companies in China and Singapore, acquisitionof Kadence International)
IT solutions (acquisition of business for Cross Communication, acquisition of current Fittio Inc.)
Marketing research (start of marketing consulting, R&D acquisition, establishment of Medilead Inc., acquisition of Shopper’s Eye)

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9

１．Overview of Group

Overview by Segment

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10

１．Overview of Group

Group’s strengths

By combining research (understanding consumers) with marketing implementation support,
we can provide added value that leads directly to business promotion and growthfor client companies.

Research function

Marketing implementation
supportPDCA

Data marketing

Insight

Digital marketing

Comprehensive marketing solutions
based on data and understanding

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11

１．Overview of Group

Long-term vision

We aspire to be a Group that supports every step in marketing from strategy formulation
to the implementation of marketing measures by identifying consumers’ “why”—Cross
Marketing’s strength—and guiding customers’ business to success as their partner.

Copyright©2021 Cross Marketing Group Inc. All rights Reserved.

12External Environment

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2.

Forecast of Japan’s DX market

External
Environment

Investment in Japan’s DX market is expected to increase 3.8 times overfrom fiscal 2019 to fiscal 2030, and the market is expanding rapidly.
(Unit: 100 million yen)
35,00030,425FY201930,000FY 2030 forecasts

3.8 times

25,00020,00015,000
9,055

10,000

7,912

5,845

5,000
0

2,190

Transportation/
freight

1,510
Finance

4,500
971

2,375
367

Manufacturing Distribution

585

1,880
160

Medicine/nursing

900

Real estate

2,090
550
Other
industries

1,007

2,590

Sales,
marketing

572 1,190
Customer
services

Total

Source: Fuji Chimera Research Institute, Inc. "2020 Digital Transformation Market Future Outlook"..

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14

2.

External
Environment

Digital D2C Market Size Estimates and Forecasts

The digital D2C market is also expanding, and the market scale isexpected to be 2.3 times 2015 levels by 2025.
(Unit: 100 million yen)

35,00030,00026,00030,60024,10025,00020,30022,20018,30020,00015,00027,70029,30013,30014,70016,200Growth rate for 2015-2025

10,000230.0%

5,000

0
2015
2015年

2016
2016年

2017
2017年

2018
2018年

2019
2019年

2020
2020年

2021
2021年

2022
2022年

2023
2023年

2024
2024年

2025
2025年

Source: Ureru Net Advertising Co., Ltd.

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15

2.

Trends in scale of market
in Japan’s research market

External
Environment

The scale of Japan’s research market decreased in 2020 due to the pandemic,
but prior to this, the market showed sustained and stable growth.
(Unit: 100 million yen)

2,500

Market size

Growth rate

2,099
2,000

1,500

1,699

1,731

101.6%

101.9%

1,819

1,835

100.9%

1,885

2,147

2,190

2,291

140.0%

2,202

1,946
120.0%

102.7%

103.2%
107.9%

105.1%

96.1%
102.3%

102.0%

104.6%

100.0%

1,000

2010–2020 growth rate

129.6%

500

80.0%

0

60.0%
2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

Source: Field Survey of Management Operations, Japan Marketing Research Association

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16

2.

External
Environment

ESOMAR's redefinition of the research market
and the size of the global insights market

Change in definition of research market by ESOMAR:“An industry that compiles and analyzes a range of data and provides insights to clients”
The scale of the global market, including companies in technology and those in consulting, isapproximately 10 trillion yen.
Scale of global market for insightindustry (new definition)

9.8 trillion yen
Scale of global market formarketing researchaccording to previous
definition

5.2 trillion yen

Top 10 companies in world’s insight industry field
Ranking2019 2018

1
2
3
4
5
6
7
8
9
10

1
3
2
－
4
－
5
－
6
－

Company name2019 sales
Headquarters
Country in
Comparedwhich it is
Global total to previous
locatedyear

NielsenUSA
Gartner
USA
IQVIA
USA
Adobe Systems
USA
KantarUK
Salesforce.com
USA
IPSOS
FranceIHS Markit
UK
GfK
Germany
CoStar Group
USA

6,498
4,245
4,139
3,206
2,870
2,506
2,243
2,198
1,673
1,400

-0.3
6.8
7.6
31.2
9.8
32.0
8.6
5.6
5.2
17.4

(Unit: million USD, %)* 1 USD = 110 yen
Source: ESOMAR’s “Global Market Research 2020” and Japan Marketing Research Association
Copyright©2021 Cross Marketing Group Inc. All rights Reserved.

17

Overview of Medium-termManagement Plan

Copyright©2021 Cross Marketing Group Inc. All rights Reserved.

Overview of
３．Medium-termManagement Plan

Guiding Principlesof the Medium-Term Management Plan

Medium-term Management Plan “DX Action 2024” guidelines

Marketing DX Partner
We use our digital strengths and the ability to understand consumers andclarify their “why” through analyses of all the data surrounding consumers to provide
support in every area, from the implementation of customers’ marketing

solutions to reforms in the marketing process. With one-stop services
from planning strategies to their implementation, we will leadcustomers’ business to success.
Copyright©2021 Cross Marketing Group Inc. All rights Reserved.

19

Medium-Term Management Plan
Numerical Targets

Overview of
３．Medium-termManagement Plan

Triple Three
Market capitalization

Group’s consolidated
salesGroup’s consolidated
operating income

30 bil. yen

30 bil. yen

3 bil. yen

13.7 bil. yen in 2021

19 bil. yen in 2021

1.8 bil. yen in 2021

*2

*3

*1

*1
Share price on June 30, 2021 (closing price)*2, 32021 figures for the Group’s consolidated sales and consolidated
operating income are the figures for July 2020 to June 2021.

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Overview of
３．Medium-termManagement Plan

Role ofMedium-term Management Plan

The Stage 3 growth period will be the foundation for future additional leaps basedaround DX Action in order to achieve the long-term vision.

2015–2018

Stage 1
Second founding period

Global expansion

No. 1 researchcompany in Asia

2019–2021

Stage 2
Reform period
Listed on First
Section of the TSE
Pandemic response
Strengthen
Governance&
Profitability

2021–2024
Stage 3Growth period

DX Action

2025–futureStage X

Further leap

Marketing DX Partner
Triple Three

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21

Overview of
３．Medium-termManagement Plan

Role of Medium-term Management Plan

Stage1
Second founding period

Stage2
Reform period

Stage3Growth period

Global expansion, expansion of business
areas

Listed on First Section of theTSE, pandemic response

DX Action

No. 1 research company in Asia

Strengthen
Governance & Profitability

Marketing DX Partner
Triple Three Acquisition of shares in Kadence Group Thailand: Share acquisition, establishmentof new subsidiary D&M: Establishment of new subsidiary MDL: Establishment of new subsidiary Change in listing to First Sectionof the TSE Reorganization of subsidiaries inJapan IT human resources related: M&A
 First decline in revenue andincome secured during pandemic

Further leap with the Group’s
assets as the foundation andstronger digital/DX field ascore(Unit:
million yen)

(Unit:
million yen)

35,000Net sales (left axis)

30,000Market value (left axis)

30,000Operating income (righthand axis)

30,00025,00020,00015,00010,00015,074
11,183
8,673

7,324

16,811
15,664

17,225

17,692

17,472

18,96523,051

5,000
4,000
3,000

13,74013,711

7,189

2,000

8,048

1,000

5,000

0

0
2015/6

2016/62017/62018/6

2019/62020/62021/62022/62023/62024/6

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22

Group assets
and infrastructure foundation

Overview of
３．Medium-termManagement Plan

Build structures and systems to effectively and efficiently utilize the Group’s assets andinfrastructure, and accelerate the Group’s overall growth by strengthening businesses,
investment and M&A

Businesses&
Service

Assets andinfrastructure held byGroup overall

Digital Marketing
Business

Database

Medium-term
initiatives

Current
assetsMedium-term
initiatives

Cash Flow
CultureInsight Business

Pursue measures in each business with the Group’s assets andinfrastructure as the foundation and accelerate the Group’s growth

SystemHuman
Resources

Data Marketing
Business

Current
assetsUse of AI business

Build Group’s comprehensive
solution organization

Data analytics technology

Group consolidation
with CRM data

Japan’s largest
organization of analysts

Sharing panel and researchdata within Group

Customer base of 5,000 companies
and 72,000 contacts

Build a new businessmodel through DX
Internet researchsystemBuild a new businessmodel using panels

Promotion panel network consisting of
2,000 attributes/8 million people

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23

Measures in each segment
and quantitative targets

Overview of
３．Medium-termManagement Plan

Digital Marketing
Business
2024
Net sales

12.0 bil. yen

Data Marketing
Business
2024
Net sales

Insight Business8.0 bil. yen

2024
Net sales

CAGR 7.2%

CAGR 20.8%

Advancing existing business modelService standardization offering
Cloud BI tools

Provide new added value through a
DX shift for data

Raise speed of customer response bypromoting DX for operating system
Automation of operations using AI

Begin to provide consulting-typeresearch services

DX shift for services such as user
profiling tools
Begin to offer OneIDCross (CRM data
linking system) to customers
Begin to offer webinar operations
to customers

3.0 bil. yen

2024
Net sales

CAGR 5.9%

Advancing existing business model
Promote DX for services andoperations

7.0 bil. yen

New business/M&A

LTV method development
investment
Expand customer field→Government agencies, schools, etc.

New business:
Launch of several small-scale
new businesses
M&A:
Aggressive investment inbusiness areas needed forGroup’s future growth

Begin to offer research tools tocustomers
2021
Net sales

6.8 bil. yen

2021
Net sales

6.5 bil. yen

2021
Net sales

5.9 bil. yen

2021
Net sales- bil. yen

Assets and infrastructure held by the Group

SystemHuman Resources

Database

Cash Flow

Culture*Net sales for 2021 are the figures for the period from July 2020 to June 2021.
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24

Overview of
３．Medium-termManagement Plan

New business development policy

To achieve ongoing growth, launch several small-scale new businesses
and drive the Group’s overall business growth together with thegrowth of existing businesses.
Scale

Implement feasibility studies with a total investment of about
30 million yen in each new businessContinuity
policyMake additional investments when expansion to a certain scale
can be expected
Pull out of businesses in which growth cannot be expected andconsider next new business

Achievementswith past new
businesses

Support for launch of e-commerce site
WEB promotion businesse-commerce cosmetics
business

QiQUMO, a self-administered questionnaire tool

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25

Overview of
３．Medium-termManagement Plan

M&A strategy

Invest aggressively in business areas needed for the Group’s future growthBusiness M&A

PurposeExpansion of service
menu

Incubation CVC

Improve service quality

Compilation of cuttingedge technology
information and capital
gainsCompanies in data
marketing field

Companies in insight field

Companies withtechnology and services
that can be applied andtransferred for use byGroup

Expansion andreinforcement of
networkCompanies in digitalmarketing field
Anticipatedcompanies

Software development
and SaaS-relatedcompany

Companies working on
DX, such as healthcare
and consumer goods
Standards forevaluatingcompanies
targeted forinvestment

Availability of newtechnology, high-quality
personnel

Synergies with Group

Availability of highquality personnel

Availability of new
expertise, high-quality
personnelNew
investment
and valuation

100–500 million yen

100–1,000 million yen

100–1,000 million yen

100–300 million yen

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26

Overview of
３．Medium-termManagement Plan

Global strategy

Overseas expansion
Expand and strengthen the Group’s global network■ Improve efficiency with consolidation andelimination of existing bases
Growth investment primarily in the US■ Search for development possibilities in
untapped areas
Asia: Malaysia

Trends in market scale: North America(Unit: million USD)

50,00020.0%

40,000Net sales

30,000Growth rate

15.0%
10.0%

20,0005.0%

10,0000

Mekong area －Laos－Myanmar－Cambodia
Europe: Germany, France

0.0%

2015

2016

2017

2018

2019

Scale of global insight market(Unit: million USD)

Africa and Middle East
2,718

South America 1,992

Asia-Pacific
13,081(Unit: million USD) Trends in market scale: Asia-Pacific region

20,000

10.0%

Net sales
Growth rate

10,000
0

5.0%
0.0%

2015

2016

2017

2018

2019

Europe23,780World
89,903

North America
48,332
Of which the US
accounts for
47,136

Already developed regions
Regions in which
expansion is considered

Source: Inc.
ESOMAR’s“GlobalReserved.
Market Research 27
2020”
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HR Strategy, SDGs

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４．HR Strategy, SDGs

HR Strategy

Purpose of HR strategy:
・ Build a system that can generate results and an HR development model unique to
Cross Marketing・ Set up labor health environment and make aggressive investments
・ Improve organization’s speed by creating a culture and establishing it
・ Strengthen HR hiring capacity so that it matches business expansion
Foster and strengthen
human resources• Visualize and analyze humanresources through talentmanagement• Build and administer HR
development system and expand
throughout Group• Develop next generation ofmanagers• Career development support(internal training, dispatch tooutside educational institutions)－ DX personnel training by job
type－ Training by rank
－ Training for manager
candidates

Improve engagement and build a system and organization that
can yield results• Strengthen management• Mentor program for new graduates and second group of new graduates• Support in building internal networks• Support in building a career path (building careers)• Shape culture of CMG through Culture Book
• Earn certification as a Health & Productivity
Management Outstanding Organization (White 500)

Strengthen hiring capacity• Promote rehiring of retirees by building an alumni network• Expand hiring channels and hire people with the potential to perform for
the Company
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29

４．HR Strategy, SDGs

SDG Initiatives

Under its “Discover Something New: Create the Future” mission,
the Cross Marketing Group supports the sustainable development goals (SDGs) set
forth by the United Nations.
Going forward, we will establish an SDG Declaration andstrive to create a sustainable society.

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30

Capital Policy, etc.

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Shareholder Return Policy

５．Capital policy, etc.

Policy onshareholder returns

While continuing to make stable returns to shareholders through dividends, the Group aims to
expand its business and continue to increase dividends with a consolidated dividend payout
ratio of about 15%, in principle, taking into account capital demand and future business
investment plans, among other factors.
10

Past results

Near-term policies

80%
Dividend per share (left axis)

9

Dividend payout ratio (right axis)

8

Dividends

Stable dividends basedon a 15% consolidated
dividend payout ratio

In principle, based on a
15% dividend payout
ratio

7

Ongoing increase in5

dividends together withincreased earnings

4

60%
6.0

6

Flexible
implementation
based on share pricelevels and financial
conditions

1

5.5

6.2

50%

5.5

40%

4.5
3.3
33%
13%

30%

26%

21%

20%

2
Implementation as needed
as a shareholder returnmeasure (four times sincelisting in 2008)

6.0

5.5

3
Acquisitionoftreasury
stocks,
etc.

70%

8.0

15%

15%

20%
10%

14%

0

0%

* In 2021, dividends for the irregular six-month financial period ended in June 2021
were doubled (equivalent to dividends for 12 months).
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32

５．Capital policy, etc.

Aiming to meet standards to remain
in Prime Market segment

At the Board of Directors meeting held on August 12, 2021,
the Board decided to choose the Prime Market segment
when the TSE’s listing segment are changed in April 2022.
Results of first screening for compliance with market listing requirements

Number of Floating-stock :CompliantFloating-stock market capitalization:
Not compliant

Floating-stock ratio:
Compliant

Trading Value:
Compliant

Based on the Medium-term Management Plan, we will improve
corporate value by pursuing business activities, actively carryingout IR and augmenting corporate governance as well as meetingthe criteria for maintaining the Prime Market listing.
We plan to submit and disclose a Plan on Compliance with ListingStandards from September to December on specific initiatives.
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33

Company Culture

Copyright©2021 Cross Marketing Group Inc. All rights Reserved.

６．Company Culture

Company Culture

Keep on doing things that will be good for everyone, for the client.
Not “it can’t be done,” but “how to do it?”

It is the prerogative of challengers to be unafraid of failure.
If you do it, you can see the next thing.
If you do it, you understand your own growth.

We just do it.

Thoughts behind our vision, “Just go for it!”

We want to continue being challengers so that we never stop growing.
We are not afraid of mistakes, and can take on all kinds of challenges. We will value
the growth and success that result from this process.
To achieve this, we always hold on to a spirit of challenge and create our stance on
new initiatives from culture. We will create a company that continues to embracechallenges.
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35

６．Company Culture

Company Culture
We put the values and culture that we value as acompany into words, compiled it as a Culture Bookand distributed it to employees.
CMG has a wide range of businesses and expands inmany different directions, including overseas. We havecolleagues overseas with a wide range of values.
We will clarify and share what is important to us while
accepting diverse values. This will strengthen personal
growth, ties between individuals and the organization,
and affiliations within the organization.
Names by industry field

PolicyMind

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36

６．Company Culture

Road of growth (partial excerpt)

Road of growth is the approach that we want our CMG colleagues to value as wework to achieve further growth.
They are made up of policy, mind and action.
Support your colleagues with all your mightand do not betray them.
How far can you go in building supportive relationships with thecolleagues you’ve had the fortune to meet? No matter how advanced yourskills, or how talented, you cannot achieve results or success without
trusting your colleagues. You will have no opportunities unless you earn
their trust. This is crucial, so sometimes you may receive harsh feedback.
This is crucial, so we share the joy of growth. If you can build this kind of
relationship, these ties will continue even after you leave the organization
someday.

Do not run from results
As long as you are working, you will be asked to show results. But you will
not always produce good results. Sometimes, things will not turn out as
you had hoped. The important thing is how you interpret this. For
example, no matter the result, it is important to accept it straight on aslong as you thought and acted for yourself. This leads to the next thing,
and that’s why you can’t run from results.

Take up challenges with no fear of the future

Push forward rather than adjusting

Don’t think someone else will do it for you; do it yourself. Don’t assume
someone else will think it; think for yourself. Think of everything that
happens in the organization and at work as your business. This is thequickest way to achieve growth. If you change your perspective,
everything can become your own concern. The world changes in an instantwhen you make it your business. You will have no regrets if you think,decide and act for yourself. Live a live with no regrets.

Think of the customer’s perspective first. Do not run from what you should
do just because it’s convenient for you or the organization. Do not pushwhat you should have done onto someone else. Push forward rather thanmaking adjustments. Get rid of the habit of making decisions based onwhat you want to do or don’t want to do or have never done. Do whatshould be done from the customer’s perspective. Push forward withintention.

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37

６．Company Culture

Knowledge & Style (partial excerpt)

The approach we want our employees to value when they join the company andthe awareness we would like employees promoted to manager and division headto have are organized as “Knowledge & Style” by rank.

Don’t forget that you’rea challenger
Scale is a source of pride for CMG, but we are stillchallengers. We aren’t the top in the industry in Japan,
and even globally we might just be in the top 20.
We are not stable now, nor will we rest easy in the future.
Our existing members are working full out, and working
hard to boost earnings. We have no intention of
becoming complacent about our position. We willcontinue to take up challenges going forward, and will
not forget what it’s like to be a challenger.

You didn’t become important,your work just changed.
Becoming a manager doesn’t mean you become an
important person. You moved from work that can becompleted by one person to work that requires results asa team. The type of work changed. It is not enough justto have fighting capacity. You need the ability to build
teams and the ability to solve organizational issues. Thisis several times more difficult than member work. But
this change will definitely lead to your future career.

Winning is important
Not losing is even more importantContinuing to make small wins isimportant.
But sometimes major challenges arealso necessary.
Even if you lose as a result, losing
skillfully can have more value than
winning small if the results are plus
minus zero.

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38

６．Company Culture

Specialist Style (partial excerpt)

We have many colleagues in jobs labeled “specialist,” such as researchers andengineers. We have adopted the approach and mindset we would like these
specialists to have as “Specialist Style.”

Knowledge alone does notmake a professional.
A real professional transforms
knowledge into wisdom.

Break out of your own shell.
At CMG, experts are notthose that stick to their own
narrow field.

Ask yourself what purpose
expertise serves.
Specialties that don’t generate
profits are just decorations.

Copyright©2021 Cross Marketing Group Inc. All rights Reserved.

39

Appendix

Copyright©2021 Cross Marketing Group Inc. All rights Reserved.

Trend in Group’s Earnings and Market Capitalization

７．Appendix(Unit: million yen)

Second founding
periodExpansion period

Net sales

20,000

Listing on the Mothers
section of TSE

Growth period

Change in listing toFirst Section of the TSE

Acquisition ofstock in Kadence

30,000

ReformperiodStart of IT solutions
business

10,0000

2009/6 2010/6 2011/6 2012/6 2013/6 2014/6 2015/6 2016/6 2017/6 2018/6 2019/6 2020/6 2021/6 2022/6 2023/6 2024/6
3,000

Operating income

2,000
1,000
0
30,0002009/6 2010/6 2011/6 2012/6 2013/6 2014/6 2015/6 2016/6 2017/6 2018/6 2019/6 2020/6 2021/6 2022/6 2023/6 2024/6

Market capitalization

20,00010,0000

2009/6

2010/6

2011/6

2012/6

2013/6

2014/6

2015/6

2016/62017/62018/6

2019/62020/62021/62022/62023/62024/6

Copyright©2021 Cross Marketing Group Inc. All rights Reserved.

41

Consolidated Financial Results

７．Appendix

Fiscal year ended in
December 2018

Net sales (million yen)

Fiscal year ended in
December 2019

Fiscal year ended in
December 2020

*1

Fiscal year ended inJune 2021

17,492

18,58015,985

10,758

Digital marketing business

*2

3,198

4,026

4,801

4,353

Data marketing business

*2

7,396

7,583

5,570

3,704

Insight business

*2

6,898

6,971

5,614

2,701

Operating income (million yen)

955

1,267

986

1,007

Ordinary income (million yen)

840

1,150

1,078

1,048

Net income (million yen)

507

(477)

467

540

Net assets (million yen)

3,900

3,420

3,594

4,339

Total assets (million yen)

10,429

9,927

11,416

11,775

Dividends per share (yen)

5.5

6.0

6.2

EPS (yen)

25.92(24.12)

23.67

BPS (yen)

193.79166.19179.58204.27

ROE (%)

14.0

-

13.6

14.3

ROA (%)

8.4

11.3

10.1

9.0

4.0

*3

27.50

*1. The fiscal year ended in June 2021 was an irregular six-month period due to the change in our fiscal period.
*2. The sales figures by business segment for 2018 and 2019 have been recalculated in line with the new segments and provided here as reference.
*3. The dividends for the fiscal year ended in June 2021 reflects six months’ worth of earnings.

Copyright©2021 Cross Marketing Group Inc. All rights Reserved.

42

Cautionary Statement regarding the Material
The purpose of this document is to provide information on business performance andnot to solicit investment in securities issued by the company. The opinions and forecasts
contained in this document are based on the judgment of the Company at the time thisdocument was prepared, and the Company does not guarantee or promise the accuracy
or completeness of the information, and it is subject to change in the future.Translatedwith www.DeepL.com/Translator (free version)

For inquiries regarding this document, please contact
Corporate Planning division, Cross Marketing Group Inc.

Cross Marketing Group Inc.

Mail : ir-cm@cross-m.co.jp

https://www.cm-group.co.jp