Materials for the Briefing on the Financial
Results for the Second Quarter of FY2021
August 4, 2021
Future Corporation(First Section of the Tokyo Stock Exchange: 4722)
Copyright © 2021 by Future Corporation

Today's Attendees

Yuki Shingu

Yohei Saito

Board Director,
Future Corporation
President,
Future Architect, Inc.

Board Director,
Chief Technology Officer,
Future Corporation

Copyright © 2021 by Future Corporation 2

Agenda1. Earnings Results for the First Half of FY2021

2. Topics Related to the First Half of FY2021

3. Plan for FY2021
Copyright © 2021 by Future Corporation

3

1. Earnings Results for the First Half of FY2021

Copyright © 2021 by Future Corporation 4

1. Earnings Results for the First Half of FY2021(i) Earnings Highlights

Consolidated
earnings results
for the first halfof FY2021
IT Consulting &ServiceBusinessInnovation
Inter-segment
adjustment

Net sales were up, while operating income, ordinary income, andprofit attributable to owners of parent were all way up
Net sales
Operating income
Ordinary income
Profit attributable to owners of parent

23,117 million yen (4.4% increase)
3,746 million yen (15.7% increase)
3,888 million yen (17.0% increase)
2,696 million yen (13.9% increase)

Future Architect drove net sales up, significantly boosting operating income

Net sales:
18,501 million yen (2.6% increase)
Operating income: 3,540 million yen (15.6% increase)*Refer to Appendix (i)eSPORTS and Tokyo Calendar boosted sales and profits

Net sales:
4,669 million yen (12.8% increase)
Operating income: 224 million yen (7.6% increase)*Refer to Appendix (i)Net sales:-166 million yen
Operating income: -57 million yen
Copyright © 2021 by Future Corporation 5

1. Earnings Results for the First Half of FY2021(ii) Analysis of Earnings Results (Net Sales and Operating Income)*Refer to Appendix (ii)

Sales and profit rose above the previous six-month period and were up year on year as well
Operating income margin significantly improved to reach 15.7%
Net sales
21,184

22,21523,174

22,13522,175

23,117

4,000

3,500

(Million yen)

Operating income

3,746

Operating income
Operating income margin

3,212

19,034

3,336

45.0%

40.0%

3,187

3,239
35.0%

3,000

2,612

30.0%

2,500
25.0%

1,995

2,000

20.0%
1,500
15.0%
1,000

500

2018.1H

2018.2H

2019.1H

2019.2H

2020.1H

2020.2H

2021.1H

13.7%

15.2%

15.0%

13.8%

15.7%

14.6%

10.0%

9.0%

5.0%

0.0%

0

2018.1H 2018.2H 2019.1H 2019.2H 2020.1H 2020.2H 2021.1H
Copyright © 2021 by Future Corporation 6

1. Earnings Results for the First Half of FY2021(ii) Analysis of Earnings Results (Balance Sheets)*Refer to Appendix (iii)

Total assets increased from 49,823 million yen at the end of December 2020 to 51,867 million
yen
Balance Sheets
Total assets 49,823
Cash anddeposits
15,110Current assets
other than cash
and deposits
11,325

Property, plant and equipment 1,178

Liabilities
11,594

Net assets
38,228Intangible assets 2,150

Investments
and otherassets
20,057

End of December 2020

(Million yen)

Total assets 51,867
Cash anddeposits
18,353Current assets
other than cash
and deposits
9,828

Property, plant and equipment 1,139

Liabilities
11,782

Increase/decrease in assets
Increase/decrease in assets:(Major items)
Cash and deposits:
Notes and accounts
receivable - trade:
Securities:
Work in process:Property, plant and equipment:
Customer-related assets:
Investment securities:+2,044+3,242-1,369
+1
+23
-38
-104
+583

Increase/decrease in liabilities

Net assets
40,085Intangible assets 2,155

Investments
and otherassets
20,391

End of June 2021

Increase/decrease in liabilities:(Major items)
Accounts payable – trade:
Income taxes payable:
Provision for loss on projects:
Deferred tax liabilities:

+187

+48
+310
+10
+142

Increase/decrease in net assets
Increase/decrease in net assets:(Major items)
Total shareholders’ equity:
Valuation difference on
available-for-sale securities:+1,856+1,487+414

Copyright © 2021 by Future Corporation 7

1. Earnings Results for the First Half of FY2021(ii) Analysis of Earnings Results (Cash Flows)
Operating CF

4,839

1H FY2021

Investing CF

1H FY2021(194)*Refer to Appendix (iv)

 Breakdown of cash flows from operating activities
Profit before income taxes
Depreciation
Increase (decrease) in inventories
Decrease (increase) in notes and accounts
receivable - trade
Increase (decrease) in provision for loss on
projects
Other

3,879
463
94

Subtotal
Income taxes paid
Interest and dividends

5,459
(729)
109

CF from operating activities

4,839(Million yen)

1,369
10
(356)

 Breakdown of cash flows from investing activities

Financial CF

1H FY2021

Purchase of intangible assets
Proceeds from lease and guarantee
deposits received
Other

(332)

CF from investing activities

(194)

217
(79)

 Breakdown of cash flows from financing activities
Purchase of additional shares ofsubsidiaries
Cash dividends paid
Other

(1,406)

CF from financing activities

(450)
(884)
(72)

(1,406)
Copyright © 2021 by Future Corporation 8

1. Earnings Results for the First Half of FY2021(iii) Results by Segment (IT Consulting & Service)
Net sales

18,03018,501

1H FY2020

1H FY2021

Future Architect, Inc.
(including Future Corporation’sTechnology Division)

Net sales

Operating income

YDC Corporation
Net sales

Operating income

FutureOne
Net sales

Operating income

dit Co., Ltd
Net sales

Operating income*Refer to Appendix (v)Operating income

3,061

1H FY2020

3,540(Million yen)

1H FY2021• Net sales were up year on year thanks to a steady stream of orders coming in for DX projects from a wide varietyof customers, including the development of a mission-critical system designed to accelerate digital commerce forthe apparel industry. There was also steady progress in a project for introducing next-generation banking systems
to regional financial institutions and mission-critical systems projects for staffing service providers.
• Operating income increased substantially year on year as a result of focusing on ensuring quality control toimprove profitability.

• Both net sales and operating income declined year on year due to a decrease in SI projects.
• Both net sales and operating income decreased as a result of focusing on the replanning and recovery
of some SI projects for its original packaged software for sales management.
• Both net sales and operating income increased significantly year on year due to increased orders
related to cyber security and a favorable trend in orders received in connection with the construction of
networks for preparing the ICT environment.
Copyright © 2021 by Future Corporation 9

1. Earnings Results for the First Half of FY2021(iii) Results by Segment (IT Consulting & Service)(Million yen)

Sales trends by industry
Service

1H FY2019

1H FY2020

1H FY2021

2,668

3,692

2,844

3,727

(19.4%)(21.1%)

3,896(28.5%)(26.8%)(27.7%)

2,637(19.3%)

2,916

Distribution(32.6%)

3,141

3,733

3,660

(26.8%)

Manufacturing

4,496(21.2%)(23.4%)

Finance(27.8%)

3,457(25.3%)

Note 1) Results for Future, Future Architect, Future Inspace, and YDC have been combined.
Note 2) Figures for procured goods and the maintenance thereof are not included

Copyright © 2021 by Future Corporation 10

1. Earnings Results for the First Half of FY2021(iii) Results by Segment (IT Consulting & Service)(Million yen)

Sales trends by phase
Grand design

1H FY2019

1H FY2020

1H FY2021

1,957(14.2%)

2,501(18.6%)

3,467(25.4%)

2,180

7,044

(15.8%)(51.2%)

5,685

2,161

(16.1%)(42.3%)

2,244(16.4%)

5,120(37.5%)

DesignDevelopment

Management/Operation

2,591(18.8%)

3,097(23.0%)

2,820(20.7%)

Note 1) Results for Future, Future Architect, Future Inspace, and YDC have been combined.
Note 2) Figures for procured goods and the maintenance thereof are not included

Copyright © 2021 by Future Corporation 11

1. Earnings Results for the First Half of FY2021(iii) Results by Segment (Business Innovation)*Refer to Appendix (v)Operating income

Net sales(Million yen)

4,669
4,139

1H FY2020

eSPORTSNet sales

Operating income

Tokyo Calendar Inc.
Net sales

Operating income

CodeCamp Inc.
Net sales

Operating income

LaiBlitz, Inc.
Net sales

Operating income

1H FY2021

209

224

1H FY2020

1H FY2021• Both net sales and operating income rose sharply year on year due to strong demand for camping, fishing, and otheroutdoor activities suited to the new lifestyle as well as an increase in the lines of private label products it had been
continuously introducing to the market.

• Both net sales and operating income rose substantially year on year due to stable revenue from Internet
services including Tokyo Calendar Date, growth in magazine and advertising sales, and ongoing cost
controls.
• Net sales jumped year on year due to an increase in orders from corporations shifting from group training toonline training, but operating income remained flat as a result of prioritizing R&D investments.
• Both net sales and operating income fell year on year due to a decrease in new orders received fromprofessional baseball clubs, etc.

Copyright © 2021 by Future Corporation 12

1. Earnings Results for the First Half of FY2021(iv) Analysis of Changes in Net Sales

+112

+530
+470

BusinessInnovation

Other(Million yen)-132
Adjustments

IT Consulting &Service

22,135

23,117(4.4%)

1H FY2020

1H FY2021
Copyright © 2021 by Future Corporation 13

1. Earnings Results for the First Half of FY2021(v) Analysis of Changes in Operating Income
+15

+478

BusinessInnovation(Million yen)

+49
Other

-36
Adjustments

IT Consulting &Service

3,239

3,746
(16.2%)

1H FY2020

1H FY2021
Copyright © 2021 by Future Corporation 14

2-1. Topics Related to the First Half of FY2021
IT Consulting & Service
1. Helping a diverse range of customers move forward with business transformation
2. Developing Digital Core System to drive ABC-Mart's growth strategy forward
3. Developed the gas industry’s first digital twin system for Nippon Gas Co., Ltd.
4. Provided AI services to the Japan External Trade Organization (JETRO) and Cainz
5. Transforming customers’ business via a three-pronged approach to consulting
6. Active hiring and training programs designed to foster autonomy and growth

Copyright © 2021 by Future Corporation 15

Helping a diverse range of customers move forwardwith business transformation
Building stronger ties with existing customers to boost orders
Increase in new orders from customers in a variety of industries andbusinesses who are eager to transform their operations

Retail andWholesale

Banking
Insuranceandsecurities

Distribution

Real time architecture+

Temporarystaffing

Media

ApparelLogistics,
Lifestyle,
Infrastructure

Energyand
Manufacturing

Real estate

Copyright © 2021 by Future Corporation

16

Developing Digital Core System to drive ABC-Mart's
growth strategy forward

Expanding the retailer’s ability to respond to changes in market conditions and its
overwhelming store sales capabilities to the e-commerce domain
Supporting ABC-Mart all the way through from planning to operation as an IT partner wellversed in its strengths
History as an IT Partner
2021

Stage IV

2017
2014
2010

Stage III
Stage II
Stage I

Transformation into
advanced retailer
Strategic alliance foroverall IT
Migrating to cloudenvironment

Overhaul of retail system

Advantage of speedy store opening and store retailingsuitable for regions and commercial areas
Expanding ABC-Mart's outstanding brick-and-mortar
retail capability into the digital world

Digital Core System✔ Centrally manages order data from various sales
channels such as stores, e-commerce sites, andsmartphone applications✔ Integrates data such as reward points, inventory,
products, customers, orders and shipments in realtime
Developing digital channels at the same speed as
store launches

Designing the right system for theclient at the right time to take theirbusiness to new heights
Copyright © 2021 by Future Corporation17

Developed the gas industry’s first digital twin system
for Nippon Gas Co., Ltd.
Implemented at Yume no Kizuna Kawasaki, one of the world’s largest LP gas filling plants,
the AI-based system reduces costs and environmental impact, and speeds up disaster
responseAI

Cloud(digital space)

Digital Twin

Site
(real space)

AI

Manufacturing plan

Delivery plan

Actual data

Deliverydata

Usage data

Delivery
instruction

Remaining
amount data

Optimization

Optimization

Manufacturing
data

Controlmessage

Manufacturing
instruction

Device control

Manufacturing
data

Inventory data

TabletMobile device

Manufacturing
equipment

Warehouse

Delivery data

Delivery vehicle

Meter

Delivery personnel

Destination

IoT

Gas cylinders
LP gas filling plant(Yume no Kizuna Kawasaki)

Distribution
centerCopyright © 2021 by Future Corporation

18

Provided AI services to the Japan External Trade
Organization (JETRO) and Cainz
Real-world application of AI/optimization
beyond PoC (proof of concept)
High-precision document
retrieval AI
Issue: Inability to perform keyword searches results in numerous
user inquiries
Sample inquiry: Where can I get authorization to send dairy products to
the United States?

Interpretation
Milk, cheese

AI (deep learning)
USA

Asking about a location ororganization

Auto-scheduling AI
Issue: Making employee schedules that fit parameters

200 stores nationwide x 30 minutes/day = Approx. 50K hours/year of operation
Constraint: Preventing
continuous operation

Tasks
タスク
Task 1
タスク①

Task 2
タスク②

Document containing the response“Please check with XX when you send cheese to the U.S.”

Effect of using AI and its features:✔ Enhanced search accuracy and convenience improves
operational efficiency✔ AI gets smarter the more you use it, keeping up with
updated trade information

Task 3
タスク③

09:00

10:00

11:00

12:00

13:00

14:00

Employee
A
従業員Aさん

15:00

17:00

18:00

Person
Cさん C

Employee
従業員BさんB

従業員Cさん
EmployeeC

16:00

Person
Aさん A

Person
Aさん A
Parameter:
Individual skills

19:00

Employee
D
従業員DさんParameter:
Equitable workload
allocation

Effect of using AI and its features:✔ Automation halves average work time
✔ Scheduling that tends to depend on individual
skills gets done by AI
Copyright © 2021 by Future Corporation

19

Transforming customers’ business via a threepronged approach to consulting
Creating new businesses in a variety of fields based on the management,
business, and technology expertise we have cultivated over the years, andcontributing to the advancement of societyManagement
StrategyManagement/
Business Strategy

StrategyInnovation

Business
Consulting

Design Management
and IT

Industry and business know-how
accumulated over many years
Distribution
RetailOperation
Innovation

Logistics

Manufacturing and
SPA

Lifestyle
Infrastructure

Media

Securities

Insurance

Banking

Technology-driven innovation
SystemInnovation

Strategic
AI

Technology
Innovation

Cybersecurity

Healthcare
Innovation

Copyright © 2021 by Future Corporation

20

Active hiring and training programs designed to foster
autonomy and growthWorked on active recruitment despite the COVID-19 pandemic, resulting in a 1.5-fold year-on-yearincrease in the number of new hires and a record number of new graduates joining the company
this fiscal year
Fostering professional autonomy and growth via online training tailored to individual abilities
Number of new graduates entering the company

1.5x

2019

2020

✔ Flexibility to match individual proficiency✔ Interactive training to encourage trainees totake on new challenges and support
autonomy

2021

Various screening options to test candidates’
specialized skills
International
student screening
4%

Codingscreening
Presentation 39%
screening
57%

Professional training

Reflection

ActionSelf-improvement through New
Creating challenging
reflection
employeeopportunities

Assessment
Fair assessment

Training leader

Copyright © 2021 by Future Corporation21

2-2. Topics Related to the First Half of FY2021
Business Innovation
1. Tokyo Calendar: Utilization of user behavior data
2. eSPORTS: Favorable sales of outdoor products
3. CodeCamp: Expansion of corporate services

Copyright © 2021 by Future Corporation 22

Boosted sales across all business operations, including magazines, bystrengthening online promotions based on analysis of user behavior dataSignificant year-on-year increasein sales and profit, by 114% and382% respectively

Amid the COVID-19 pandemic, sales ofthe monthly magazine were the highest
since its revamping
Restaurant
DB

Operating income

Net sales
580

60

560

50

Containing restaurant data
for the past 10 years

540

40

520

30

User
behavior

500

20

480

10

Restaurant searchlinked to the monthly
magazine

Incorporating user needs in special
featurese.g., Popular genres/areas/price ranges

460

2020

1H FY2020

2021

1H FY2021

02020

1H FY2020

2021

1H FY2021

Copyright © 2021 by Future Corporation 23

Sales of outdoor products remained strong, bringing net sales up 50% andgross profit up 76% year on year
Sales of PB products, mainly for outdoor
activities, increased, and NB products were soldat regular prices, contributing to high gross profit[Sales and Profit Margin for All Products Early clearance sale also
contributed to the recovery
including Outdoor Products]of gross margin

4,000,000
3,500,000
3,000,000
2,500,000
2,000,000
1,500,000
1,000,000
500,000
0

Strengthened branding for the second
half with the aim of increasing overall
outdoor product sales• Augmented the lines of PB products
such as QuickCamp

3.0%
2.5%
2.0%
1.5%
1.0%
0.5%

1H FY2019

2H FY2019

1H FY2020

Net sales

Making outdoor
activities moreaccessible and easier

2H FY2020

1H FY2021

0.0%

Profit margin• Increased the lines of NB brands andproducts

Everything is designed for areason, so you'll get morequality than you paid for
Copyright © 2021 by Future Corporation 24

Expanded corporate services by taking advantage of the features and ourexpertise in online training to drive sales up
Sales of corporate services increased,
offsetting the decline in the number ofindividual trainees

Expanded training for new fullyremote engineers

Trends in Sales and Individual Trainees

Surge in the number of individual
trainees due to COVID-19-related
demand450,000,000
400,000,000
350,000,000
300,000,000

5000
4000

250,000,000

3000

200,000,000
150,000,000

2000

100,000,000

1000

50,000,000
0

6000

2017

2018

2019

Net sales

2020

2021

0

Number of trainees

Breakdown of Operations
1H FY2020

Corporate salesrose from 15% of
total to 25%

1H FY2021
0%20%
Individual40%
Corporate

60%
Kids

80%

Started support for IT personnel training in
local governments

100%

Copyright © 2021 by Future Corporation 25

3. Plan for FY2021

Copyright © 2021 by Future Corporation 26

3. Plan for FY2021(1) Full-year Operating Forecast(Million yen)

Plan forFY2021(Initial: 4/28)

Plan forFY2021(Revised: 7/30)

ChangeResults for
FY2021 1H

Net sales

47,50048,500+1,000(+2.1%)

23,117

47.7%

Operating income(operating income
margin)

7,150

8,000

(16.5%)+850(+11.9%)

3,746

46.8%

Profit attributable toowners of parent

4,800

5,500

+700

2,696

49.0%

(profit margin)(15.1%)(10.1%)(11.3%)(+14.6%)(16.2%)(11.7%)

Progress(compared withrevised plan)

Copyright © 2021 by Future Corporation 27

3. Plan for FY2021(2) Changes in Net Sales and Operating Income(Million yen)

Operating income

Net Sales

12,000Operating income

48,50045,38910,00044,311

45.0%

40.0%

Operating income margin
35.0%

40,21836,265

8,000

8,000

6,523

30.0%

25.0%

5,824

6,000

5,235

20.0%

4,458
15.0%

4,000

14.5%
2,000

16.5%
14.4%

12.3%

10.0%

11.8%
5.0%

0

2017

2018

2019

2020

2021 (Forecast)

2017

2018

2019

2020

2021 (Forecast)

0.0%

Copyright © 2021 by Future Corporation 28

3. Plan for FY2021(3) Dividends• We decided to raise the interim dividend by 2 yen from the initially planned 21 yen to make it 23
yen per share.
• We plan to pay a year-end dividend of 23 yen, up 2 yen from the initially planned 21 yen, tomake the annual dividend total 46 yen.
(Yen)

25 yen23 yen21 yen21 yen19 yen18 yenRegular18 yenAnniversary 3 yen

2019 Interim

2019 Year-end

20 yen20 yen2020 Interim2020 Year-end

23 yen23 yen2021 Interim2021 Year-end (Forecast)

17 yen15 yen13 yen11 yen
9 yen
7 yen
5 yen

Copyright © 2021 by Future Corporation 29

Appendix

Copyright © 2021 by Future Corporation 30

Appendix-(i) Future GROUP
Future Architect, Inc.
Future Inspace, Inc.

IT Consulting &ServiceYDC Corporation
FutureOne, Inc.
Micro CAD Co., Ltd.
dit Co., Ltd.
Innovation Laboratory, Inc.

Future Corporation(Holding company)eSPORTS Co., Ltd.

BusinessInnovation

Tokyo Calendar Inc.
CodeCamp, Inc.
LaiBlitz, Inc.

Future Investment Corporation
Zeekstar Sports Entertainment Inc.
(As of June 30, 2021)
Copyright © 2021 by Future Corporation 31

Appendix-(ii) Analysis of Earnings Results(Comparison of Results)

Results for
FY2021 1H(Million yen)Compared with projected results

Year-on-year comparison

Plan for FY2021(revised plan)

Rate ofchangeResults for
FY2020 1H

Rate ofchangeNet sales

23,11722,000+5.1%

22,135+4.4%

Operatingincome

3,746

2,900

+29.2%

3,239+15.7%

Profit attributable toowners of parent

2,696

1,980

+36.2%

2,366+13.9%(operating income
margin)(profit margin)(16.2%)(11.7%)(13.2%)(9.0%)(14.6%)(10.7%)

Copyright © 2021 by Future Corporation 32

Appendix-(iii) Balance Sheets(Million yen)

Current assets
Non-current assets
Total assets
Current liabilities
Non-current liabilities
Total liabilities
Total net assets
Shareholders’ equity ratio
Current assets:
Non-current
assets:End of Jun. 2021

End of Dec. 2020

Change28,181
23,68651,867
6,518
5,263
11,78240,08526,43623,387
49,823
6,476
5,117
11,594
38,228+1,745+299+2,044
+41
+146
+187
+1,856

77.3%

Cash and deposits
Notes and accounts receivable – trade
Securities
Property, plant and equipment

Intangible assets (including goodwill)
Investment securities
Provision for quality assurance
Current liabilities:
Provision for loss on projects
Non-current
Deferred tax liabilities
liabilities:
Valuation difference on available-for-sale
Net assets:
securities

76.6%

End of Jun. 2021
18,3536,514
1,001

End of Dec. 2020
15,1107,884
1,000

Change+3,242-1,369
+1

1,139

1,178

-38

2,155
19,01552
23

2,150
18,431
61
13

+4
+583
-9
10

4,757

4,615

+142

11,643

11,229+414
Copyright © 2021 by Future Corporation 33

Appendix-(iv) Cash Flows(Million yen)

1H FY2021

1H FY2020

Cash flows from operating activities

4,839
-194
-1,4062,721-327-1,753+2,118
+133
+347

3

1

+2

3,242

641

+2,601

Cash and cash equivalents at the beginning of the period

16,01014,929+1,080Cash and cash equivalents at the end of the period

19,253

15,571+3,681

Cash flows from investing activities
Cash flows from financing activities
Effect of exchange rate changes on cash and cash
equivalents
Increase (decrease) in cash and cash equivalents

Operating CF:

Investing CF:

Financial CF:

Profit before income taxes
Increase (decrease) in provision for loss on projects
Decrease (increase) in notes and accounts receivable– tradeDecrease (increase) in inventories
Increase (decrease) in accounts payable – trade
Purchase of securities
Purchase of property, plant and equipment
Purchase of intangible assets
Sale of investment securities
Purchase of additional shares of subsidiaries
Purchase of treasury shares
Cash dividends paid

Change1H FY2021
3,879
10

1H FY2020
3,418
405

Change
+461
-395
+851

1,369

518

94
48
-102
-106
-332
3

-648
-262
0
-111
-252
99

+742
+311
-102
4
-80
-96

-450
0
-884

0
-758
-938

-450
758
53
Copyright © 2021 by Future Corporation 34

Appendix-(v) Results by Segment
1H FY2021

1H FY2020

YoY change

23,117

22,135+4.4%

IT Consulting & Service

18,501

18,030+2.6%

Business Innovation

4,669

4,139

+12.8%

Other

112

0

NA

Adjustments

-166

-33

-

3,746

3,239

+15.7%

3,540

3,061

+15.6%

Business Innovation

224

209

+7.6%

Other

39

-10

NA

Adjustments

-57

-21

-

(Million yen)

Net sales

Operating income
IT Consulting & Service

Copyright © 2021 by Future Corporation 35

Appendix-(vi)-1 Recognition of Backlog (IT Consulting & Service)(1) When making a large, long-term contract, we divide it into two or more parts to manage risk and treat
only the finalized portion as an order received

200M in total
Ordersreceived 50M

Estimate (2)100M

Estimate (1)50MPeriod-end(2) Each contract’s period and amount differ depending on the portfolio for each phase

Orders received

Grand
design40M (3 months)

Development

Estimate

60M (3 months)

Orders received

100M (6 months)

Period-end(3) Orders received are recognized based on evidence (contract documents) and are not considered assuch without evidence even if sales are expected to be made.
(4) Unless we can obtain evidence of orders by the respective closing dates, we do not recognize them.
Copyright © 2021 by Future Corporation 36

Appendix-(vi)-2 Relationship between Backlogs and Sales
IT Consulting & Service – Changes in backlogs and sales(Quarterly basis)

Order backlog(Millions of Yen)
14,000Net sales(Millions of Yen)
12,000Order backlog
Net sales

12,00010,00010,000
8,000
8,000
6,000
6,000
4,000
4,000
2,000

2,000

0

2018 1Q

2018 2Q

2018 3Q

2018 4Q

2019 1Q

2019 2Q

2019 3Q

2019 4Q

2020 1Q

2020 2Q

2020 3Q

2020 4Q

2021 1Q

2021 2Q

0• As shown in the concept of order backlog on the previous page, the order backlog at the end of the period
does not necessarily correlate with future net sales

Copyright © 2021 by Future Corporation 37

The summary report of operating results, supplementary materials,
briefing material and other various IR materials are also available on
the Company’s website.
https://www.future.co.jp/investor_relations/
Investor Relations, Future Corporation
TEL: 03-5740-5724
FAX: 03-5740-5820
E-mail: ir@future.co.jp
This material contains future forecasts made based on currently available information. These forecasts may change depending on the future direction of the Japanese
economy and the IT service industry. It should be noted that the Company does not guarantee or promise the accuracy of these forecasts.
In this material, the figures in the summary report of operating results, etc. that are indicated in units of those yen are stated in units of million yen. Hence, a disparity
may be found in some of the totals and differences. For detailed figures, please refer to the summary report of the operating results.
Copyright © 2021 by Future Corporation 38