November 5, 2020
For Immediate Release
Company Name: EPS Holdings, Inc.
Representative Director: Yan Hao, Chairman & CEO(Code No.: 4282, TSE First Section)
Inquiries: Kazuki Sekitani,

Vice President andCorporate Officer(Tel: +81-3-5684-7873)

Notice of Differences between Full-Year Consolidated Earnings Forecast
and Actual Results and Dividend of Surplus

EPS Holdings, Inc. (the “Company”) hereby announces that differences have arisen between the full-year consolidated
earnings forecast for the fiscal year ended September 30, 2020 (October 1, 2019 to September 30, 2020) published on August
4, 2020 and actual results released today.
The Company also announces that at a meeting of its Board of Directors held on November 5, 2020, it has resolved tosubmit the dividend of surplus with the end of September 2020 as the record date to an annual general meeting of shareholders
to be held on December 18, 2020. Details are as follows.

Ⅰ．Differences between the full-year consolidated earnings forecasts and actual results
1. Differences in the full-year consolidated earnings forecasts for the fiscal year ended September 30, 2020 (October 1,2019 to September 30, 2020)(Figures indicated in millions of yen, unless stated otherwise)
Net sales

Operatingincome

Recurring profit

Profitattributable toowners of parent

Basic net income
per share(yen)62,000 - 65,000

2,500 - 3,500

2,500 - 3,500

1,000 - 1,500

22.29 - 33.44

66,689

4,553

4,978

1,995

44.37

4,689 - 1,689

2,053 - 1,053

2,478 - 1,478

995 - 495

Change (%)

7.6 - 2.6

82.1 - 30.1

99.1 - 42.2

99.5 - 33.0

(Reference)
Consolidated results forthe fiscal year ended
September 30, 201969,009

6,279

6,271

3,633

Previous forecast (A)Actual results (B)Change (B - A)

2. Reason for revision
In the earnings forecast announced on August 4, 2020, the Company was concerned about the impact of the second waveof the novel coronavirus infection disease (COVID-19). However, consolidated net sales exceeded the revised forecast
because the Company was able to continue clinical trials while taking measures against COVID-19, while negative effects such as thecancellation and interruption of clinical trials, restrictions on visits to medical institutions, a decrease in visits of clinical trial subjects

81.02

and the termination of contracts of contract medical representatives (MR) were not as severe as expected. In addition, consolidated
operating income and consolidated recurring profit were much greater than the forecasts due to a comprehensive reductionof expenses, in addition to the higher than expected consolidated net sales.
Ⅱ．Dividend of surplus
1. Details of dividends
Amount determined

Most recent dividend
forecast(May 8, 2020)

Actual results for the previous
fiscal year(ended September 30, 2019)

Record date

September 30, 2020

Same as on the left

September 30, 2019

Dividend per share

10 yenTo be determined

15 yenTotal dividends

441 million yen―

666 million yen

Effective date

December 21, 2020――

Dividend resource

Retained earnings――

2. Reason
Regarding the distribution of profits, the Company has made it a fundamental policy to secure the necessary internal
reserves to strengthen its business structure in light of future business development and profitability improvement
and to maintain and enhance shareholder returns.
For the fiscal year ended September 30, 2020, while profit per share was 44.37 yen, lower than the year-ago level, theCompany has decided to reward shareholders for their support for the Company by maintaining stable dividends and willsubmit its decision to set the year-end dividend at 10 yen per share to the annual general meeting of shareholders.
As a result, the annual dividend will be 20 yen per share, and the consolidated payout ratio will be 45.1%.
(Reference)
Dividend per share (yen)Record date

End of the first six months

Year end

Full year

Actual results

10.00

10.00

20.00

Actual results of the previous fiscal
year ended September 30, 2019

13.00

15.00

28.00