Financial Results
for the First Three Quarters of the Fiscal YearEnding March 31, 2024
February 2, 2024

© 2024 TIS Inc.

Highlights

Fiscal 2024 First Three Quarters: Financial Highlights
・Sales and income up year on year.
・ Profitability dipped a bit due to reinforced growth investment,

including investment in human resources, but still remained at a highlevel.
・Overall order volume and order backlog are favorable. Saw increase insoftware development projects during third quarter (October–December),
contributing to total overall.

Fiscal 2024: Performance Forecast
・Favorable progress, in line with revised full-year at time of first-halfresults announcement. No changes to full-year forecast.

© 2024 TIS Inc.

2

Contents

Fiscal 2024 First Three Quarters: Financial Highlights
Fiscal 2024: Performance Forecast
Reference Materials- All statements described in these materials are based on information available to management regarding the TIS INTECGroup—that is, TIS and the subsidiaries under its umbrella—as of the presentation date and certain assumptions deemed
reasonable at this time. No intent is implied of promise by the Company to achieve such forward-looking statements. Indeed,various factors may cause future results to be substantially different from the assumptions presented in these materials.
- Amounts for each three-month quarter are calculated by subtracting data for the respective period from the cumulative total.
- Segment sales include intersegment sales. (excluding page 9 and 12)© 2024 TIS Inc.

3

Fiscal 2024 First Three Quarters: Financial Highlights
Fiscal 2024: Performance Forecast
Reference Materials© 2024 TIS Inc.

4

Fiscal 2024 First Three Quarters: Performance Highlights (YOY change)・Higher sales, thanks to business expansion through accurate responses to clients’ IT investment needs,
including demand for digital transformation.
・Solidified increase in operating income even amid efforts to reinforce growth investment, including
investment in human resources.
First three quartersof fiscal 2023

First three quartersof fiscal 2024

Net Sales

370,382404,744+34,361[+9.3%]

Operating Income

44,44447,579+3,134[+7.1%]

Operating Margin

12.0%

11.8%

-0.2P

-

Net Income Attributable to Owners of
the Parent Company

32,15832,190+32[+0.1%]

8.7%

8.0%

-0.7P

-

[Millions of yen]

Net Income to Net Sales Ratio

YOY change- Non-operating income: ¥2,899 million- Extraordinary income: ¥1,141 million(YOY change +¥1,157 million)(YOY change -¥3,552 million)→Reversal of allowance for doubtful accounts ¥1,017 million→Gain on reversal of asset retirement obligations ¥551 million , etc.
Dividend income ¥674 million, etc.
- Non-operating expenses: ¥726 million(YOY change +¥10 million)- Extraordinary loss: ¥1,838 million(YOY change +¥725 million)→Loss on valuation of investment securities ¥1,285 million , etc.

* Impact on consolidated results, paralleling inclusion of Nihon ICS in scope of consolidation from second quarter, added ¥4.3 billion to net sales and ¥700
million to operating income (after amortization of goodwill).

© 2024 TIS Inc.

5

Fiscal 2024 First Three Quarters:
Operating Income Analysis, Increase/Decrease Reasons (YOY change)
・Posted higher operating income even while reinforcing upfront investment and dealing with increase inunprofitable projects. Effect of M&A activity a positive contributing factor.
Operating Income(Operating Margin)[Billions of yen]

+9.58

47.57

-0.4
-0.04

44.44

[11.8%]

うち、不採算案件の
Of which, effect of
影響は▲13.3
unprofitableprojects
was -¥1.33 billion[12.0%]+3.13[+7.1%]-6.40
Of which, effect ofchange in statusof consolidated
subsidiary, etc.
was +¥1.26 billion

Gross profit margin

27.5

Actual%[YOY change +0.0 points]

First three quartersof fiscal 2023

Increased
sales

Declined
profitability

Increased
SG&A expenses

Prior investment costs for promoting structural transformation:
Up ¥0.82 billion (YOY change )(Cost of sales: +¥0. 85 billion, SG&A expenses: -¥0.02 billion)
Software investment / Investment in human resources / Investment in R&D+
Cost of investment in human resources (additional amount):Up ¥4.00 billion (YOY change)(Cost of sales : +¥2.81 billion, SG&A expenses : +¥1.19 billion)© 2024 TIS Inc.

First three quartersof fiscal 2024

Changes in SG&A Expenses
Effect of change in status ofconsolidated subsidiary, etc.
Prior investment (excludes
investment in human resources)
Prior investment(Investment in human resources)
Others
Total

+1.49

-0.02
+1.19
+3.74
+6.40

6

Fiscal 2024 First Three Quarters: Sales by Client Sector
・Year-on-year increases in sales in all client sectors. Driven by demand from businesses providing
services and banking operations as well as the public sector.
[Millions of yen]Firstthree quarters2024年3月期
of fiscal 2023
2023年3月期

115,125

第3四半期(累計)First
three quarters第3四半期(累計)of fiscal 2024

72,501

103,899

74,036[+2.1%][+10.8%]34,351
28,191

23,446[+21.8%]Credit card

Banking

ｶｰﾄﾞ

32,612

23,658

銀行等

13,609 31,972

11,011[+0.9%][+23.6%]

Insurance

Other finance

保険

その他金融

28.1%

Net Sales
Breakdown
by Client
Sector

6.8%

10.3%

[+6.0%]

19.6%
7.6%
6.3%
3.0%
8.6%

Credit card
ｶｰﾄﾞ
Banking
銀行等
Insurance
保険
Otherfinance
その他金融
Assembly-based
組立系製造
manufacturing
Processing-based
ﾌﾟﾛｾｽ系製造
manufacturing
Distribution
流通Service
ｻｰﾋﾞｽ
Public institutions
公共
Othersその他

32,217

26,46324,761

25,001[+5.8%]

Assembly-based Processing-based
組立系製造 ﾌﾟﾛｾｽ系製造
manufacturing
manufacturing

Financial sector: 36.5% Industrial sector: 53.8%
Public sector: 6.7%
Other sectors: 3.0%
© 2024 TIS Inc.

38,331[+2.0%]First three quarters of fiscal 2023
3.0%
6.7%

40,637[+30.1%]Service

Distribution

流通

ｻｰﾋﾞｽ

12,032

11,264

Public institutions

公共[+6.8%]
Others

その他

First three quarters of fiscal 2024
3.0%
8.0%
18.3%

28.4%

Net Sales
Breakdown
by Client
Sector

8.5%
5.8%
3.4%

8.1%
6.5%
10.0%
Financial sector: 36.0% Industrial sector: 53.0%
Public sector: 8.0%
Other sectors: 3.0%

7

Fiscal 2024 First Three Quarters:
Sales and Income for Key Business Segments (YOY change)[Millions of yen]First three quartersof fiscal 2023

First three quartersof fiscal 2024

Net Sales

81,516

93,701+12,185[+14.9%]Operating Income

4,499

5,493

+994

[+22.1%]

Operating Margin

5.5%

5.9%

+0.4P

-

Net Sales

32,223

31,239-983[-3.1%]

Operating Income

3,644

3,073

-571

[-15.7%]

Operating Margin

11.3%

9.8%

-1.5P

-

Net Sales

74,07979,820+5,740[+7.7%]

Operating Income

9,907

11,256+1,348[+13.6%]

Operating Margin

13.4%

14.1%

+0.7P

-

Net Sales

82,621

89,679+7,058[+8.5%]

Operating Income

12,124

13,268+1,143[+9.4%]

Operating Margin

14.7%

14.8%

+0.1P

-

Net Sales

115,422

127,285+11,862[+10.3%]Operating Income

13,56914,178+608[+4.5%]

Operating Margin

11.8%

11.1%

-0.7P

-

Offering Service
Business

Business Process
Management

Financial IT
Business

Industrial IT
Business

Regional IT
Solutions

Offering Service Business:

YOY change

Higher sales and higher income, largely due to wider IT investment in areas of payment settlement, platform and business
management as well as positive impact of M&A activity. Overseas operations contributed to sales growth.

Business Process Management: Existing data entry business struggled, impacting segment results, leading to lower sales and lower income.
Financial IT Business:

Higher sales and higher income, driven by large-scale projects ordered by core clients in credit card sector as well as public-sector
financial institutions.

Industrial IT Business:

Higher sales and higher income underpinned by wider IT investment across spectrum of client sectors, particularly manufacturing
and distribution, as well as solid ERP demand.

Regional IT Solutions:

Higher sales and higher income, reflecting wider IT investment in such sectors as healthcare and banking as well as investment into
networks and other industrial IT infrastructure. Profitability decreased, mainly due to impact of unprofitable projects.

© 2024 TIS Inc.

8

Reference: Fiscal 2024 First Three Quarters:
Sales by Key Business Segment and Operating Activity *For external clientsFirst three quartersof fiscal 2023

First three quartersof fiscal 2024

72,506

84,166+11,660[+16.1%]

Software development

34,05533,197-858[-2.5%]

Operating/cloud services

22,732

28,732+6,000[+26.4%]

Product/software sales

15,71822,236+6,518[+41.5%]30,50529,700-804[-2.6%]

Software development

13,082

9,864-3,217[-24.6%]

Operating/cloud services

17,42319,056+1,633[+9.4%]

-

779

+779

-

72,836

78,683+5,846[+8.0%]

Software development

39,83745,165+5,328[+13.4%]

Operating/cloud services

27,71329,522+1,809[+6.5%]

Product/software sales

5,284

3,994

-1,290[-24.4%]82,06789,260+7,192[+8.8%]

Software development

55,426

58,113+2,687[+4.8%]

Operating/cloud services

17,87019,914+2,043[+11.4%]

Product/software sales

8,769

11,231+2,461[+28.1%]

110,651

121,380+10,728[+9.7%]

Software development

57,61662,376+4,760[+8.3%]

Operating/cloud services

40,72942,188+1,459[+3.6%]

Product/software sales

12,305

16,814+4,508[+36.6%][Millions of yen]
Offering Service BusinessBusiness Process Management

Product/software sales
Financial IT BusinessIndustrial IT Business

Regional IT Solutions© 2024 TIS Inc.

YOY change

9Reference: Fiscal 2024 Third Quarter (October-December):Sales and Income for Key Business Segments[Millions of yen]

Third quarterof fiscal 2023

Third quarterof fiscal 2024

YOY change

Net Sales

125,077

137,255+12,178[+9.7%]

Operating Income

16,734

17,191+457[+2.7%]

Operating Margin

13.4%

12.5%

-0.9P

-

Net Income Attributable to Owners of
the Parent Company

13,323

11,882-1,440[-10.8%]Net Income to Net Sales Ratio

10.7%

8.7%

-2.0P

-

Net Sales

27,62833,552+5,924[+21.4%]

Operating Income

2,004

2,834

+830

[+41.4%]

Operating margin

7.3%

8.4%

+1.1P

-

Net Sales

10,732

10,245-487[-4.5%]

Operating Income

1,239

964

-274

[-22.2%]

Operating margin

11.5%

9.4%

-2.1P

-

Net Sales

25,361

25,713+352[+1.4%]

Operating Income

3,596

3,370

-226

[-6.3%]

Operating margin

14.2%

13.1%

-1.1P

-

Net Sales

27,401

31,353+3,951[+14.4%]

Operating Income

4,361

4,797

+436

[+10.0%]Operating margin

15.9%

15.3%

-0.6P

-

Net Sales

39,117

41,749+2,631[+6.7%]

Operating Income

5,216

5,164

-52

[-1.0%]

Operating margin

13.3%

12.4%

-0.9P

-

Key Business Segments
Offering Service
Business
Business Process
Management
Financial IT
Business
Industrial IT
Business

Regional IT
Solutions© 2024 TIS Inc.

10

Reference: Fiscal 2024 Third Quarter (October-December):Operating Income Analysis, Increase/Decrease Reasons (YOY change)[Billions of yen]

Operating Income(Operating Margin)

+3.38

16.73

17.19

-0.10

[13.4%][12.5%]Of which, effect of
unprofitable projects
うち、不採算案件のwas -¥0.08 billion
影響は▲0.8

-2.82

+0.45

[+2.7%]Of which, effect ofchange in statusof consolidated
subsidiary, etc.
was +¥0.70 billion

Gross profit margin

27.6

Actual%[YOY change -0.1 points]

Third quarterof fiscal 2023

Increased
sales

Declined
profitability

Increased
SG&A Expenses

Prior investment costs for promoting structural transformation:
Down ¥0.11 billion (YOY change )(Cost of sales: -¥0.04 billion, SG&A expenses: -¥0.07 billion)
Software investment / Investment in human resources / Investment in R&D+
Cost of investment in human resources (additional amount):Up ¥1.60 billion (YOY change)(Cost of sales : +¥1.13 billion, SG&A expenses : +¥0.46 billion)© 2024 TIS Inc.

Third quarterof fiscal 2024

Changes in SG&A Expenses
Effect of change in status ofconsolidated subsidiary, etc.
Prior investment (excludes
investment in human resources)
Prior investment(Investment in human resources)
Others
Total

+0.73
-0.07
+0.46
+1.70
+2.82

11

Reference: Fiscal 2024 Third Quarter (October-December):Sales by Key Business Segment and Operating Activity *For external clients[Millions of yen]
Offering Service Business

Third quarterof fiscal 2023

Third quarterof fiscal 2024

YOY change

24,62630,344+5,718[+23.2%]

Software development

11,225

11,669+444[+4.0%]

Operating/cloud services

8,380

10,391+2,010[+24.0%]

Product/software sales

5,020

8,284

+3,264[+65.0%]

10,188

9,753

-435

[-4.3%]

Software development

4,345

3,196

-1,149[-26.4%]

Operating/cloud services

5,842

6,325

+482

[+8.3%]

Product/software sales

ー

231

+231

-

24,92425,334+409[+1.6%]

Software development

14,127

14,260+133[+0.9%]

Operating/cloud services

9,193

9,853

+659

[+7.2%]

Product/software sales

1,604

1,220

-384

[-23.9%]27,222

31,186+3,964[+14.6%]

Software development

18,383

19,827+1,444[+7.9%]

Operating/cloud services

6,012

6,525

+513

[+8.5%]

Product/software sales

2,826

4,833

+2,007[+71.0%]37,47640,091+2,614[+7.0%]

Software development

19,622

20,895+1,272[+6.5%]

Operating/cloud services

13,726

14,193+466[+3.4%]

Product/software sales

4,128

5,003

+875

[+21.2%]Business Process Management

Financial IT BusinessIndustrial IT Business

Regional IT Solutions© 2024 TIS Inc.

12

Fiscal 2024 First Three Quarters:
Order Status (Orders received during first three quarters)
・Year-on-year increase in overall order volume.
・Tough conditions in software development for Business Process Management and Financial IT
Business, which saw reactionary drop in demand, but Offering Services Business and Industrial IT
Business achieved commendable increases.
First threequartersof fiscal 2023

First threequartersof fiscal 2024

344,697364,551+19,853[+5.8%]

197,217

193,889-3,328[-1.7%]

Offering Service Orders received during first three quarters
Business
Software development

64,22378,143+13,919[+21.7%]30,20834,589+4,380[+14.5%]Business
Process
Management

Orders received during first three quarters

30,762

28,943-1,818[-5.9%]

13,338

8,924-4,414[-33.1%]

Financial IT
Business

Orders received during first three quarters

67,73962,623-5,115[-7.6%]

43,09934,413-8,685[-20.2%]

Industrial IT
Business

Orders received during first three quarters

74,741

82,871+8,130[+10.9%]52,33357,085+4,752[+9.1%]

Regional IT
Solutions

Orders received during first three quarters

107,231111,969+4,737[+4.4%]

58,23758,877+639[+1.1%][Millions of yen]Orders received during first three quarters

Software development

YOY change

Key Business Segments© 2024 TIS Inc.

Software development

Software development

Software development

Software development

13

Fiscal 2024 First Three Quarters:
Order Status (Order backlog at end of third quarter)・Year-on-year increase, with trend in orders received during the term generally unchanged. Third
quarter hit record high.
[Millions of yen]First threequartersof fiscal 2023

First threequartersof fiscal 2024

Order backlog at end of third quarter

138,543

143,272+4,728[+3.4%]

91,682

88,768-2,914[-3.2%]

Offering Service Orders received during first three quarters
Business
Software development

23,45628,713+5,256[+22.4%]

12,614

15,322+2,708[+21.5%]Business
Process
Management

Orders received during first three quarters

8,760

6,692

-2,068[-23.6%]

8,760

6,509

-2,251[-25.7%]

Financial IT
Business

Orders received during first three quarters

34,29332,739-1,553[-4.5%]

25,13921,071-4,067[-16.2%]

Industrial IT
Business

Orders received during first three quarters

30,53931,676+1,137[+3.7%]

21,045

21,666+620[+2.9%]

Regional IT
Solutions

Orders received during first three quarters

41,49443,450+1,955[+4.7%]

24,12324,197+74[+0.3%]

Software development

YOY change

Key Business Segments© 2024 TIS Inc.

Software development

Software development

Software development

Software development

14

Reference: Fiscal 2024 Third Quarter (October-December):
Order Status[Millions of yen]Orders received during third quarter
Software development

Third quarterof fiscal 2023

Third quarterof fiscal 2024

YOY change

78,70392,179+13,475[+17.1%]53,72760,712+6,984[+13.0%]13,482

20,151+6,669[+49.5%]

8,377

10,742+2,365[+28.2%]

10,745

9,318-1,427[-13.3%]

4,902

2,825

-2,077[-42.4%]

8,482

12,905+4,423[+52.1%]

6,731

10,873+4,142[+61.5%]20,99424,049+3,054[+14.6%]

16,84019,931+3,091[+18.4%]24,99925,754+755[+3.0%]

16,875

16,339-536[-3.2%]Key Business Segments
Offering Service
Business

Orders received during third quarter

Business Process
Management

Orders received during third quarter

Financial IT
Business

Orders received during third quarter

Industrial IT
Business

Orders received during third quarter

Regional IT
Solutions

Orders received during third quarter© 2024 TIS Inc.

Software development

Software development

Software development

Software development

Software development

15

Fiscal 2024 First Three Quarters: Financial Highlights
Fiscal 2024: Performance Forecast
Reference Materials© 2024 TIS Inc.

16

No changes to estimates announced on November 1, 2023

Fiscal 2024: Performance Forecasts
・Expect to achieve higher sales and higher income through expanding business pursuits while
reinforcing growth investment, including investment in human resources. Changing status ofconsolidated subsidiaries will also have positive effect on results. Note that results by Nihon ICS,
brought under consolidation through M&A, are reflected from second quarter. *1
・The anticipated decrease in net income is primarily due to a reactionary drop in extraordinary income
due to such factors as a reduction in strategic shareholdings in fiscal 2023.
[Millions of yen]

Fiscal 2023
actualFiscal 2024
revised estimate

YOY change

Net Sales

508,400

536,000+27,599[+5.4%]

Operating Income

62,32864,500+2,171[+3.5%]

Operating Margin

12.3%

12.0%

-0.3P

-

Net Income Attributable to
Owners of the Parent Company

55,46142,000-13,461[-24.3%]Net Income to Net Sales Ratio

10.9%

7.8%

-3.1P

-

Net Income per Share (Yen)

227.11

174.19-52.92[-23.3%]

ROE *2

18.8%

13.7%

-5.1P

-

*1 Impact of turning Nihon ICS into consolidated subsidiary, from second quarter, will likely add ¥5.4 billion to net sales and ¥400 million to operating income(after amortization of goodwill).
*2 ROE estimate for fiscal 2024 is a calculated value.

© 2024 TIS Inc.

17

No changes to estimates announced on November 1, 2023
Fiscal 2024:
Operating Income Analysis, Increase/Decrease Reasons [Forecast]・Expect higher costs from robust growth investment to be absorbed by increase in income achieved
through business expansion, leading to higher operating income.
・Contribution from Nihon ICS, brought under consolidation through M&A, limited after taking effect of
goodwill amortization into account.
Operating Income(Operating Margin)+7.88[Billions of yen]

+1.68
64.50

Of which, effect of
unprofitable projects
was -¥1.47 billion

62.32[12.3%][12.0%]+2.17[+3.5%]-7.39

Of which, effect ofchange in statusof consolidated
subsidiary, etc.
was +¥1.03 billion

Gross profit margin
Plan%[YOY change +0.3 points]

28.2

Fiscal 2023
actualIncreased
sales

Improved
profitability

Increased
SG&A expenses

Anticipated prior investment costs for promoting structural transformation:
Up ¥1.47 billion (YOY change)(Cost of sales: +¥1.00 billion, SG&A expenses: +¥0.47 billion)
Software investment / Investment in human resources / Investment in R&D+
Cost of investment in human resources (additional):
Up ¥5.00 billion (YOY change)(Cost of sales : +¥3.20 billion, SG&A expenses : +¥1.80 billion)© 2024 TIS Inc.

Fiscal 2024
revised estimate
Changes in SG&A Expenses
Effect of change in status ofconsolidated subsidiary, etc.
Prior investment (excludes
investment in human resources)
Prior investment(Investment in human resources)
Others
Total

+2.46
+0.47
+1.80
+2.65
+7.39

18

No changes to estimates announced on November 1, 2023

Fiscal 2024: Sales and Income by Key Business Segment [Forecast][Millions of yen]
Offering Service
Business

Business Process
Management

Financial IT
Business

Industrial IT
Business

Regional IT
Solutions

Net Sales

Fiscal 2023
actualFiscal 2024
revised estimate

YOY change

111,752

124,300+12,547[+11.2%]

Operating Income

6,426

7,300

+873

[+13.6%]

Operating margin

5.8%

5.9%

+0.1P

-

Net Sales

43,25543,000-255[-0.6%]

Operating Income

5,123

4,850

-273

[-5.3%]

Operating margin

11.8%

11.3%

-0.5P

-

Net Sales

101,184

105,500+4,315[+4.3%]

Operating Income

13,896

14,300+403[+2.9%]

Operating margin

13.7%

13.6%

-0.1P

-

Net Sales

113,632

117,700+4,067[+3.6%]

Operating Income

16,72817,600+871[+5.2%]

Operating margin

14.7%

15.0%

+0.3P

-

Net Sales

160,010

169,100+9,089[+5.7%]

Operating Income

19,34320,000+656[+3.4%]

Operating margin

12.1%

11.8%

-0.3P

-

Expect higher sales and higher income, mainly from effect of change in status of consolidated subsidiaries. Expanding demand for payment
settlement and other broad-based services will be key contributor to sales.
Despite emphasis on improving added value and optimizing operations, struggling businesses, namely, existing data entry business, willprobably lead to higher sales but lower income.
Anticipate higher sales and higher income, underpinned by steady progress on large projects and capture of IT investment demandcentered on existing clients.
Industrial IT Business: Expect higher sales and higher income, reflecting capture of IT investment demand across wide client base as well as strong interest in ERP.
Regional IT Solutions: Expect higher sales and higher income, reflecting wider demand for medical services, and solutions and capture of IT investment demand
from existing clients.
Offering Service
Business:
Business Process
Management:
Financial IT Business:© 2024 TIS Inc.

19

Fiscal 2024 First Three Quarters: Financial Highlights
Fiscal 2024: Performance Forecast
Reference Materials© 2024 TIS Inc.

20

No changes to estimates announced on November 1, 2023
Fiscal 2024 Second Half:
Sales and Income for Key Business Segments [Forecast][Millions of yen]

Fiscal 2023
second half

Fiscal 2024
second half

YOY change

Net Sales

263,095

268,511+5,415[+2.1%]

Operating Income

34,61834,112-506[-1.5%]

Operating Margin

13.2%

12.7%

-0.5P

-

Net Income Attributable to
Owners of the Parent Company

36,627

21,692-14,934[-40.8%]Net Income to Net Sales Ratio

13.9%

8.1%

-5.8P

-

Net Sales

57,86564,151+6,286[+10.9%]Operating Income

3,931

4,640

+709

[+18.0%]Operating Margin

6.8%

7.2%

+0.4P

-

Net Sales

21,76522,005+240[+1.1%]

Operating Income

2,717

2,741

+23

[+0.8%]

Operating Margin

12.5%

12.5%

-0.0P

-

Net Sales

52,466

51,393-1,073[-2.0%]

Operating Income

7,585

6,413

-1,171[-15.4%]

Operating Margin

14.5%

12.5%

-2.0P

-

Net Sales

58,41259,373+960[+1.6%]

Operating Income

8,965

9,129

+163

[+1.8%]

Operating Margin

15.3%

15.4%

+0.1P

-

Net Sales

83,706

83,564-142[-0.2%]

Operating Income

10,99010,986-4[-0.0%]

Operating Margin

13.1%

13.1%

+0.0P

-

Key Business Segments
Offering Service
Business
Business Process
Management
Financial IT
Business
Industrial IT
Business
Regional IT
Solutions© 2024 TIS Inc. Estimated amounts for second half of fiscal 2024 = Annual estimates for fiscal 2024 – First-half actual results

21

Handling these materials
These materials are protected by Japan’s Copyright Law and the Unfair Competition Prevention Law. Unless TIS has expressly given permission, these materials shall not
be copied, duplicated, transcribed, reprinted or modified in part or in whole, inherent know-how shall not be used, and business secrets shall not be disclosed. Company
names, product names and logos are the trademarks or registered trademarks of each company.