The following information was originally prepared and published by the Company in Japanese as it contains timely disclosurematerials to be submitted to the Tokyo Stock Exchange. This English translation is for your convenience only. To the extent there
is any discrepancy between this English translation and the original Japanese version, please refer to the Japanese version.

Summary of Financial Statements for the First Quarter of the
Fiscal Year Ending December 31, 2020 [IFRS] (Consolidated)
May 13, 2020
Broadleaf Co., Ltd.
Stock Listing: Tokyo Stock Exchange 1st Section
Representative: Kenji Oyama, Representative Director, President & CEO
Scheduled Starting Date for Dividend Payment:–
Earnings Supplementary Explanatory Documents:
Yes
Earnings Results Briefing:No(Amounts are rounded off to the nearest million yen.)

1. Consolidated Financial Results for the 1st Quarter of the FY2020 (from January 1, 2020 to March 31, 2020)(1) Consolidated Results of Operations(Percentage below represents increase (decrease) from the same period of previous year)
Profit attributable
Total
Revenue
Operating profit Profit before tax
Profitto owners ofcomprehensive
parentincomeMillions ofYen

Q1 FY2020
Q1 FY2019%

Millions ofYen

5,279 7.2
4,925 11.1%

Millions ofYen

610 45.3
420 63.1

Basic earnings per share
Q1 FY2020
Q1 FY2019%

Millions ofYen

627 48.0
423 58.8

Millions ofYen%

413 50.8
274 92.8%

413 50.9
274 92.8

Millions ofYen%

267 16.8
228 125.3

Diluted earnings per share

Yen

Yen

4.72
3.13

4.65
3.09

(2) Consolidated Financial Position
Total assets

Percentage of equity
attributable to owners ofparentEquity attributable toowners of parent

Total equity

Millions of Yen

Millions of Yen

Millions of Yen%

31,722

22,99022,98872.5

31,68923,22023,21773.3

End of Q1
FY2020End of FY2019
2. Dividends

Dividends Per Share
End of Q1

End of Q2

End of Q3

Year-end

Total

Yen

Yen

Yen

Yen

Yen

‒
‒

6.50

‒

6.50

13.00

6.60

‒

6.60

13.20

FY2019FY2020
FY2020 (Forecast)(Note) Revisions to the latest forecast of dividends: No

3. Earnings Forecast for FY2020 (from January 1, 2020 to December 31, 2020)(Percentages below represent increases (decreases) from the same period of the previous fiscal year.)

Revenue
1st Half of FY2020
FY2020Operating profit

Profit attributable toowners of parent

Profit before tax

Basic earnings per
share

Millions of Yen%

Millions of Yen%

Millions of Yen%

Millions of Yen%

Yen

11,20022,700

1.2
0.5

2,000
4,600

-3.8
1.7

2,000
4,600

-3.6
2.6

1,300
3,100

-4.5
0.2

14.87
35.46

(Note 1) Revisions to the latest forecast of earnings: No- 1 -* Notes(1) Changes in significant subsidiaries during the three months ended March 31, 2020 (changes of specified subsidiaries with changeof the scope of consolidation): No(2) Changes in accounting policies, changes in accounting estimates
1. Changes in accounting policies required by IFRS: No
2. Other changes in accounting policies: No
3. Changes in accounting estimates: No(3) Number of shares outstanding (common stock)
1. Number of shares outstanding (including
treasury stock)

Q1 FY2020

97,896,800

FY201997,896,800

2. Number of shares of treasury stock

Q1 FY2020

10,457,263

FY201910,469,263

3. Average number of shares outstanding(during the period)

Q1 FY2020

87,432,021

Q1 FY201987,308,464* Summary of financial statements is outside the scope of audit procedures by certified public accountants and audit firm.
* Comment regarding appropriate usage of earnings forecast, and other special notes(Note on forward-looking statements)
The forward-looking statements such as earnings forecasts contained in this document are based on the information currently available
to the Company and certain assumptions which are regarded as legitimate. The Company makes no warranty as to the achievability ofwhat is described in the statements. Actual results may differ from these forecasts due to various factors.
(Availability of earnings supplementary explanatory documents)
Earnings supplementary explanatory documents will be posted on the Company’s website.

- 2 -○Table of Contents of Attached Material
1. Qualitative Information on Operating Results, etc. for the Three Months Ended March 31, 2020..........................................
(1) Qualitative information on financial results .......................................................................................................................
(2) Qualitative information on financial position ....................................................................................................................
(3) Qualitative Information on consolidated earnings forecast ................................................................................................

4
4
4
5

2. Summary Consolidated Financial Statements and Major Notes ..............................................................................................
(1) Summary consolidated statement of financial position ......................................................................................................
(2) Summary consolidated statement of income ......................................................................................................................
(3) Summary consolidated statement of comprehensive income .............................................................................................
(4) Summary consolidated statement of changes in equity ......................................................................................................
(5) Summary consolidated statement of cash flow ..................................................................................................................
(6) Notes regarding the summary consolidated financial statements .......................................................................................
(Notes on going concern assumption) ..............................................................................................................................
(Segment information) .....................................................................................................................................................

6
6
7
8
9
11
12
12
12

- 3 -

1. Qualitative Information on Operating Results, etc. for the Three Months Ended March 31, 2020
(1) Qualitative information on financial results
In the first three months of the fiscal year under review (January 1, 2020 through March 31, 2020), the Japanese economy wason a moderate recovery trend driven by improvements in corporate earnings as well as the employment and income environment.
However, economic activities were severely disrupted by the COVID-19 pandemic. As a result, business confidence has
deteriorated significantly, and future is highly uncertain.
In the information service industry, where the Group operates, there was rising demand for capital investment for online
communications, including investment in teleworking, reflecting the tough restrictions on outings. However, companies werecautious about making new investments, reflecting the future uncertainty. Nonetheless, a certain level of demand has remainedfor IT investment for maintaining social infrastructure, given its importance, except in non-essential areas.
Under these conditions, the Group has been providing core business systems that help customers to continue their businesses,
catering to their needs related to continuous operations and responding to demand for the renewal of use-of-system contracts.
The Group has also been improving the convenience of the systems it provides to customers and has continued to makeinvestment in development in order to diversify the services it provides.
As a result, in the first three months of the fiscal year under review (January 1, 2020 through March 31, 2020), the Company
posted revenue of 5,279 million yen (up 7.2% year on year), operating profit of 610 million yen (up 45.3% year on year), profit
before tax of 627 million yen (up 48.0% year on year), and profit attributable to owners of parent of 413 million yen (up 50.9%
year on year).
The Company has a single business segment, which consists of IT services. A breakdown of revenue by category is shown in thetable below.
(Unit: Millions of yen)
Q1 FY2019
Q1 FY2020
Classification(From Jan. 1 to(From Jan. 1 toYear-on-year rate of changeMar. 31, 2019)
Mar. 31, 2020)
Platforms

2,303

2,409

4.6%

Applications

2,622

2,870

9.5%

4,925

5,279

7.2%

Total

(2) Qualitative information on financial position(i) Analysis of financial position(Assets)
Assets at the end of the first quarter of the consolidated fiscal year under review increased 34 million yen from the end of theprevious consolidated fiscal year, to 31,722 million yen. Current assets fell 91 million yen, to 7,896 million yen, and non-current
assets increased 125 million yen, to 23,827 million yen. The decrease in current assets was mainly attributable to decreases inoperating and other receivables of 322 million yen, which offset the increases in cash and cash equivalents of 260 million yen.
The main factor contributing to the increase in non-current assets was an increase in intangible assets of 372 million yen,offsetting the decrease in other non-current financial assets of 185 million yen.
(Liabilities)
Liabilities at the end of the first quarter of the consolidated fiscal year under review increased 263 million yen from the end of
the previous consolidated fiscal year, to 8,732 million yen. Current liabilities increased 282 million yen, to 7,382 million yen,and non-current liabilities declined by 19 million yen, to 1,350 million yen. The main factor for the increase in current liabilities
was an increase in short-term interest-bearing debt of 1,659 million yen, which offset declines in operating and other payablesof 533 million yen, income taxes payable of 433 million yen, and other current liabilities of 304 million yen. The decrease in
non-current liabilities was mainly attributable to a decrease in long-term interest-bearing debt of 27 million yen.
(Equity)
Equity at the end of the first quarter of the consolidated fiscal year under review declined 229 million yen from the end of theprevious consolidated fiscal year, to 22,990 million yen. The decrease was chiefly attributable to decreases in retained earningsof 155 million yen and other components of equity of 75 million yen.

- 4 -(ii) Analysis of cash flows
Cash and cash equivalents (“cash”) at the end of the first quarter of the consolidated fiscal year under review increased 260
million yen from the end of the previous consolidated fiscal year, to 3,293 million yen.
The following is a description of the situation and major factors of each category of cash flows in the three months ended March
31, 2020.
(Net cash from (used in) operating activities)
Net cash used in operating activities stood at 44 million yen (down 91.8% year on year), mainly reflecting profit before tax of
627 million yen, depreciation and amortization expenses of 512 million yen, and a decrease in operating and other receivablesof 318 million yen, which partially offset decreases in operating and other payables of 543 million yen, and in employees' bonuses
payable of 347 million yen, and income taxes paid of 647 million yen.
(Net cash from (used in) investing activities)
Net cash used in investing activities came to 610 million yen (down 67.7% year on year), mainly due to the acquisition of
intangible assets of 616 million yen.
(Net cash from (used in) financing activities)
Net cash from financing activities came to 914 million yen (while 942 million yen was used in the same period of the previousyear), chiefly attributable to the net increase in short-term loans payable of 1,701 million yen, which offset repayments of leaseobligations of 219 million yen and cash dividends paid of 568 million yen.
(3) Qualitative Information on consolidated earnings forecast
The spread of COVID-19 infection may affect the Company’s business performance for the six months ending June 30, 2020and for the fiscal year ending December 31, 2020. However, the consolidated earnings forecasts announced on February 14,2020 remain unchanged because a reasonable forecast is difficult at present. The Company will immediately disclose revisions
to the consolidated earnings forecasts if such revisions become necessary reflecting the progress of the problem, business trends,
and other factors.

- 5 -2. Summary Consolidated Financial Statements and Major Notes(1) Summary consolidated statement of financial position(Unit: Thousands of Yen)FY2019(As of December 31, 2019)
AssetsCurrent assets
Cash and cash equivalents
Operating and other receivables
Inventories
Other current financial assets
Other current assets
Total current assets

Q1 FY2020(As of March 31, 2020)

3,033,768
4,300,009
252,684
5,000
395,541
7,987,002

3,293,400
3,978,461
187,453
5,000
431,371
7,895,685

2,026,600
11,802,504
6,897,109
94,655
1,953,076
234,224
693,392
23,701,560
31,688,562

1,927,425
11,802,504
7,269,146
85,224
1,767,710
216,002758,600
23,826,610
31,722,295

Liabilities and Equity
Liabilities
Current liabilities
Operating and other payables
Contract liabilities
Short-term interest-bearing debt
Income taxes payable
Other current financial liabilities
Other current liabilities
Total current liabilities

3,613,128
1,051,622
754,091
655,300
76,986
948,841
7,099,967

3,080,214
938,264
2,412,633
222,176
83,608644,948
7,381,844

Non-current liabilities
Long-term interest-bearing debt
Net defined benefit liability
Non-current provisions
Deferred tax liabilities
Total non-current liabilities
Total liabilities

933,932
185,866
134,834
114,337
1,368,970
8,468,936

907,065
190,610
136,107
116,326
1,350,107
8,731,951

EquityCapital stock
Share premium
Treasury shares
Retained earnings
Other components of equity
Total equity attributable to owners of parent
Non-controlling interests
Total equity
Total liabilities and equity

7,147,905
7,199,403-3,456,820
11,928,868
397,573
23,216,929
2,697
23,219,626
31,688,562

7,147,905
7,196,499-3,452,416
11,773,548
322,232
22,987,767
2,577
22,990,344
31,722,295

Non-current assets
Property, plant and equipment
Goodwill
Intangible assets
Investments accounted for using equity method
Other non-current financial assets
Other non-current assets
Deferred tax assets
Total non-current assets
Total assets- 6 -(2) Summary consolidated statement of income(Unit: Thousands of Yen)First Three Months, FY2019(From January 1, 2019
to March 31, 2019)
Revenue
Cost of sales
Gross profit
Selling, general and administrative expenses
Other operating income
Other operating expense
Operating profit
Finance income
Finance costs
Equity in loss of affiliates
Profit before tax
Income tax
ProfitProfit attributable to:
Owners of parent
Non-controlling interests
ProfitEarnings per share
Basic earnings per share (yen)Diluted earnings per share (yen)- 7 -First Three Months, FY2020(From January 1, 2020
to March 31, 2020)

4,925,091-1,363,706
3,561,385-3,163,982
24,704-2,042420,065
10,083-3,524-3,234423,391-149,709
273,6825,279,027-1,641,304
3,637,722-3,024,470
2,521-5,593
610,181
39,033-14,055-8,525
626,634-213,795
412,839

273,682－
273,682

412,959-120
412,839

3.13
3.09

4.72
4.65

(3) Summary consolidated statement of comprehensive income(Unit: Thousands of Yen)First Three Months, FY2019(From January 1, 2019
to March 31, 2019)

First Three Months, FY2020(From January 1, 2020
to March 31, 2020)

Profit273,682

412,839

Other comprehensive income
Components that will not be reclassified to profit or loss
Net change in fair value of financial assets of equity
nature measured at fair value through othercomprehensive income
Total components that will not be reclassified to
profit or loss

-43,830-143,973-43,830-143,973-1,304-1,745-218-531-1,522-2,277-45,352-146,250

228,330

266,589

228,330－
228,330

266,709-120
266,589

Components that may be reclassified to profit or loss
Exchange differences on translation of foreign
operations
Share of other comprehensive income of associates
accounted for using equity method
Total components that may be reclassified to profit
or loss
Total other comprehensive income, net of tax
Comprehensive income
Comprehensive income attributable to:
Owners of parent
Non-controlling interests
Profit- 8 -(4) Summary consolidated statement of changes in equity
First Three Months, FY2019 (From January 1, 2019 to March 31, 2019)(Unit: Thousands of Yen)
Equity attributable to owners of parent
Other components of equity
Capital stock

Exchangedifferences ontranslation offoreign operations

Share premium

Treasury shares

Retained earnings

7,147,905

7,180,289-3,500,454

9,759,561

363,850-49,109－－－38,969－－7,147,905

7,180,289-3,500,454

9,798,530

363,850-49,109

Profit－－－273,682－－

Other comprehensive income

－

－

－

－

－

-1,522

Balance as of January 1, 2019
Changes in accounting
policies
Balance after restatement ofprior period’s financial results
after error corrections

Warrants－－－

273,682－-1,522

Dividends－－－-567,505－－

Share-based paymenttransactions

－

－

－

－

59,782－

Total transactions with owners

－

－

－

-567,505

59,782－

Balance as of March 31, 2019

7,147,905

7,180,289-3,500,454

9,504,707

423,632-50,631

Total comprehensive income(Unit: Thousands of Yen)
Equity attributable to owners of parent
Other components of equity
Net change in fairvalue of financial
assets of equity
nature measured atfair value throughothercomprehensive
incomeBalance as of January 1, 2019
Changes in accounting
policies
Balance after restatement ofprior period’s financial results
after error corrections
ProfitOther comprehensive income

Total

Total

Total equity

131,383

446,124

21,033,424

21,033,424－－

38,96938,969131,383

446,124

21,072,393

21,072,393－-43,830－

273,682

273,682-45,352-45,352-45,352-43,830-45,352

228,330

228,330

Dividends－－-567,505-567,505

Share-based paymenttransactions－

59,782

59,782

59,782

Total transactions withowners－59,782-507,723-507,723

87,553

460,553

20,793,000

20,793,000

Total comprehensive income

Balance as of March 31, 2019

- 9 -First Three Months, FY2020 (From January 1, 2020 to March 31, 2020)(Unit: Thousands of Yen)
Equity attributable to owners of parent
Other components of equity
Capital stock

Shares withrestriction ontransfer

Share premium

Treasury shares

Retained earnings

7,147,905

7,199,403-3,456,820

11,928,868

537,744-14,000

Profit－－－412,959－－

Other comprehensive income

－

－

－

－

－

－

Total comprehensive income

－

－

－

412,959－－

Disposal of treasury shares－-2,904

4,404

－

－

－

Dividends－－－-568,279－－

Share-based paymenttransactions

－

－

－

－

56,90914,000

Balance as of January 1, 2020

Warrants

Total transactions with owners－-2,9044,404-568,279

56,90914,000

Balance as of March 31, 2020

7,147,905

7,196,499-3,452,416

11,773,548

594,653－(Unit: Thousands of Yen)
Equity attributable to owners of parent
Other components of equity

Balance as of January 1, 2020
ProfitExchangedifferences ontranslation offoreign operations

Net change in fairvalue of financial
assets of equity
nature measured atfair value throughothercomprehensive
income-44,269-81,903397,573

23,216,929

2,697

23,219,626

－

－

－

412,959-120

412,839

Non-controllinginterests

Total

Total

Total equity-2,277-143,973-146,250-146,250－-146,250

Total comprehensive income-2,277-143,973-146,250

266,709-120

266,589

Disposal of treasury shares

－

－

－

1,500

－

1,500

Dividends－－－-568,279－-568,279

Share-based paymenttransactions－－

70,90970,909－70,909Total transactions with owners－－

70,909-495,870－-495,870

Balance as of March 31, 2020

-46,546-225,876

322,232

22,987,767

2,577

22,990,344

Other comprehensive income- 10 -

(5) Summary consolidated statement of cash flow
(Unit: Thousands of Yen)First Three Months, FY2019 First Three Months, FY2020(From January 1, 2019
(From January 1, 2020
to March 31, 2019)
to March 31, 2020)
Cash flows from operating activities
Profit before tax
Depreciation and amortization expense
Share-based payment expenses
Finance costs (income)Equity in loss (earnings) of affiliates
Decrease (increase) in operating and other receivables
Decrease (increase) in inventories
Increase (decrease) in operating and other payables
Decrease (increase) in prepaid expenses
Decrease (increase) in long-term prepaid expenses
Increase (decrease) in accrued expenses
Increase (decrease) in employees' bonuses payable
Increase (decrease) in contract liabilities
Increase (decrease) in consumption taxes payable
Increase (decrease) in other current liabilities
Other, net
SubtotalInterest received
Interest expenses paid
Income taxes refunded (paid)
Cash flows provided by (used in) operating activities
Cash flows from investing activities
Acquisition of property, plant, and equipment
Acquisition of intangible assets
Acquisition of investments
Payments for lease and guarantee deposits
Proceeds from collection of lease and guarantee deposits
Other, net
Cash flows provided by (used in) investing activities
Cash flows from financing activities
Increase (decrease) in short-term loans payable
Repayments of long-term loans payable
Repayments of lease obligations
Cash dividends paid
Proceeds from sales of treasury shares
Commitment line related expenses
Cash flows provided by (used in) financing activities
Impact of exchange fluctuations for cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Balance of cash and cash equivalents at the end of thequarter- 11 -

423,391
440,12959,782-6,5593,234
435,661
97,696-435,605-6,394
2,094-69,506-409,771-146,497-17,093
110,102-25,321455,341
4-1,666-991,574-537,895

626,634
512,447
70,909-24,978
8,525
317,588
65,110-542,878-37,408
12,886-65,011-347,095-113,358
106,291
1,882
12,189603,731
164-1,320-646,919-44,344-10,435-829,926-1,048,346-8,3581,984
7,158-1,887,922-5,973-615,701－-1,019846
11,723-610,124－-156,000-217,814-567,505－-616-941,935

1,701,000－-218,572-568,279
1,500-1,194914,456

-512

-355

-3,368,264
5,626,723

259,632
3,033,768

2,258,460

3,293,400

(6) Notes regarding the summary consolidated financial statements(Notes on going concern assumption)
Not applicable.
(Segment information)
Since the Group has only a single business segment (IT services), the statement is omitted.

- 12 -