Notice: This document was prepared by machine translation, and no manualmodification has been made to the translated contents. This document is to be
used only as a reference, and in cases any differences occur between English
version and the original Japanese version, the Japanese version shall prevail.
Financial Results for the first quarter in this document are unaudited.

FY2024/04

Financial Results for the Second Quarter

FreeBit Co., Ltd.
December 8, 2023

Agenda1. Financial Results for the Second Quarter of FY2024/04

･････

3

2. of FY2024/04

･････

14

3. Progress against the FY2024/04 full-year forecast
4. Appendix

･････

27

･････

33

Financial results by segment for the Second Quarter

FreeBit Co., Ltd. All Rights Reserved.

2

1. Financial Results for the Second Quarter of FY2024/04

FreeBit Co., Ltd. All Rights Reserved.

3

Impact of change in fiscal year-end of consolidated subsidiaries(GIGAPRIZE and its subsidiaries)◼ GIGAPRIZE Group (GPG) changed the date of its fiscal year-end from March 31 to April 30, the same as
our consolidated fiscal year-end.
As a result, the consolidated subsidiaries in the current fiscal year has an irregular settlement of accounts
for the 13-month period from April 1, 2023 to April 30, 2024. In the first quarter of the fiscal year underreview, the four-month period from April 1, 2023 to July 31, 2023 has been incorporated into theconsolidated settlement.
◼ In this presentation material, we describe the figures as the figure including the impact of the change inthe fiscal year-end and the figure excluding the impact of the change in the fiscal year-end.

First
quarter

Consolidated period(Previous Fiscal Year)FY2023/04

GPG(Current Fiscal Year)FY2024/04

GPG

FB

FB

(From the Next Fiscal Year) GPG

FY2025/04FreeBit Co., Ltd. All Rights Reserved.

FB

4

Secondquarter

Third
quarter

Fourthquarter(month)

4

5

6

7

8

9

10

11

12

1

2

3

5

6

7

8

9

10

11

12

1

2

3

4

5

6

7

8

9

10

11

12

1

2

3

4

5

6

7

8

9

10

11

12

1

2

3

4

5

6

7

8

9

10

11

12

1

2

3

4

5

6

7

8

9

10

11

12

1

2

3

4
4

Summary of Consolidated Financial Results for the Second Quarterof the Fiscal Year Ending April 30, 2024
FY2024/04 2Q
FY2023/04
2Q(Millions of yen)

(Reference) FY2024/04 2Q(including the impact of the change
in the fiscal year-end)
Percentage
Increase/increase/
Actualdecrease
Decrease(Excluding the impact of the change in the fiscal
year-end)*2

Actual(Reference)*1(+19.9%)(+56.5%)25,341+2,759+12.2%

2,673

+711

+36.2%+1,060(+43.5%)

3,101

+662

+27.1%

3,014+1,209(+67.0%)

2,618

+813

+45.1%

2,281

3,441

+1,159(+50.8%)

3,046

+764

+33.5%

Actual843

1,980+1,137(+134.8%)

1,823

+979

+116.1%

Actual44.87 yen

99.22 yen

54.35
yen

-

79.42 yen

34.55
yen

-

Actual

22,581

27,073+4,491

Actual

1,962

3,071

+1,109Base
income

2,439

3,499

Actual1,805

Base
incomeQuarterly income
attributable toowners of theparentQuarterly net
income per shareowners of theparentNet sales
Operatingincome*3

Ordinary
incomeIncrease/ Percentage
increase/
Decreasedecrease*1 As stated in page 4, the rate of increase or decrease compared to the same quarter of the previous year is for reference purposes due to the impact of the change in GPG‘sfiscal year-end.
*2 The figures in "Excluding the impact of the change in the fiscal year-end" is an unaudited reference figure that excludes the impact of the change in the fiscal year-end of GPG.
*3 Base income are the business profit figure excluding temporary investments and unaudited reference figures.

FreeBit Co., Ltd. All Rights Reserved.

5

Topics for the Second Quarter of the Fiscal Year Ending April 2024•

Net sales increased 19.9% year on year (excluding the impact of the change in the fiscal year (*1): increased 12.2%) due toscale expansion in 5G Infrastructure Support Business's FreeBit B2B mobile services, customer acquisition in
Affiliate Services, the core business of Full Speed Group of the Corporate and Creator 5G DX Support Business, andsteady growth in the number of units provided in ISP services for apartment buildings in 5G Homestyle,the core business of 5G Lifestyle Support Business, GIGAPRIZE•

Operating income grew in all segments, including 5G Infrastructure Support Business, 5G Lifestyle Support Business, andthe Corporate and Creator 5G DX Support Business, despite implementing strategic investments. Operating income
increased 56.5% year on year and increased 42.5% year on year by base comparison (*2) compared to theprevious fiscal year (excluding the impact of the change in the fiscal year: 36.2% year on year / increased 26.2% year on
year by base comparison).

•

Quarterly income attributable to owners of the parent increased 134.8% year on year due to growth in operating income
and ordinary income, gain on sales of investment securities, and gain on sales of shares of subsidiaries and associates(excluding the impact of the change in the fiscal year end: 116.1% increase)•

Taking into account the progress of results up to the second quarter, implement upward revisions to the earnings
forecast•

In the next medium-term management plan, we announced initiatives to deepen and strengthen returns to stakeholders.
We announced the start of web3, stakeholder community demonstration test “One Vision” by revising increasing
the plan dividend forecast
In the current medium-term management plan, we implemented a shareholder return policy ahead of schedule*1 Figures of “excluding the impact of the change in the fiscal year-end” areunaudited reference figures.
*2 Base comparison is the year-on-year comparison of base incomes.
6

YoY Variance Analysis Net Sales
All segments remained solid, mainly in the Affiliate Business of the Corporate
and Creator 5G DX Support Business. As a result, actual results increased by
19.9% year on year (excluding the impact of the change in the fiscal year end:
12.2% increase)
Corporate andCreator 5G DX
support business

5G infrastructure
support businessTransaction
Increase

5G lifestyle Transaction Increase
supportbusiness
Transaction
Increaseintersegment
transactions
increase

27,073 (Millions of yen)

25,341

Net salesof GPG(1 month)

22,581

FY2023/04 2Q
ActualFigures of "excluding the impact of the change in the fiscal
FreeBit Co., Ltd. All Rights Reserved. *year-end"
are unaudited reference figures.

FY2024/04
2Q Actual(excluding the impact of thechange in the fiscal year-end)

FY2024/04
2Q Actual(including the impact of thechange in the fiscal year-end)

7

YoY Variance Analysis Operating Income
While implementing strategic investments, all segments remained solid,
mainly in 5G Lifestyle Support Business. As a result, actual results
increased by 56.5% year on year and base income increased by 43.5%(Excluding the impact of the change in the fiscal year-end: Baseprofit(Millions of yen)
Strategic
Increase ininvestment
Increase in income in theincreased 27.1%)
3,499 427
corporate andincome fromcreator
5G lifestyle 5G DX support
SupportIncrease inbusiness
profit in 5G business
Infrastructure
SupportBusiness+366

Strategic
investment

2,439

+126

Other

-2

3,101

GPG actual(1 month)
(

3,071

+172

1,962

FY2023/04
2Q Actual

FY2023/04 2Q
Base income

FreeBit Co., Ltd. All Rights Reserved.

* Base income and figures excluding
the impact of the change in thefiscal year-end are unaudited reference figures.

FY2024/04
2Q Base income

FY2024/04 2Q
Base income

FY2024/04
2Q Actual(excluding the impact of the (including the impact of the (including the impact of thechange in the fiscal year-end) change in the fiscal year-end) change in the fiscal year-end)8

Breakdown of strategic investment for FY 2023 and FY 2024
Continuous implementation of strategic investments, including acquisition of "TONE"
and "TONE Labo" users for 5G lifestyle support business and promotion of businesses
in the incubation zone
5G Infrastructure
Support Business(Millions of yen)

5G Lifestyle Support Business

FY2024/04
Strategic Investment Results

Corporate and Creator 5G DX
Support Business

FY2023/4
Total 1.28 billion yen

FY2024/04

5G Infrastructure Support Business(131 million yen)・Development of 5G data-center
・Data collaboration projects, etc.
5G Lifestyle Support Business(271 million yen)・Promotion-related to TONE
・Develop and test 5G Healthstyle area
"TONE Care“
・Web3(Blockchain) related
development and testing・”LIVING TOWN Minatomirai“
project-related expenses
etc.

562
118

245

241

235

30

39

150

122

143

60

72

77

FY2023/04 1QFY2023/04 2QFY2023/04 3Q

24

FreeBit Co., Ltd. All Rights Reserved.

213

214

12

11

125

145

90

74

57

FY2023/04 4QFY2024/04 1QFY2024/04 2Q

353

FY2024/04 3QFY2024/04 4Q

Corporate and creator 5G DX
Support Business (24 million yen)・Develop and expand human resources
for multi-faced development ofStandAlone, a Creator Maker area
9

YoY Variance Analysis Ordinary Income
Due to strong base profit, actual results increased by 67.0% year on year and baseprofit increased by 50.8%.
(Excluding the impact of the change in the fiscal year-end: Base profit increased 33.5%)(Millions of yen)

Base
Operating
IncomeIncrease+662
Strategic
investment

476

Previous
fiscal year
TOB-related
expenses

Other

+95

+8

+395 3,441
3,046

GPG
actual(1 month)

Strategic
investment

427

3,014

2,281

1,805

FY2023/04
2Q Actual

FY2023/04 2Q
Base income

FreeBit Co., Ltd. All Rights Reserved.

* For base income and the excluding
the impact of the change in thefiscal year-end Unaudited reference figures.

FY2024/04
2Q Base income(excluding the impact of thechange in the fiscal year-end)

FY2024/04 2Q
Base income

FY2024/04
2Q Actual(including the impact of the(including the impact of thechange in the fiscal year-end) change in the fiscal year-end)10

YoY Variance Analysis Quarterly net income attributable to owners of the parent

Increased by 134.8% year on year due to increase in ordinary income, etc.
(Excluding the impact of the change in the fiscal year-end: 116.1% up)

Increase inordinary
incomeGain on sales ofinvestment
securities+172

Gain on sales ofshares of
subsidiaries andassociates+86(Millions of yen)
GPG results(1 month)

Increase intax expense

-89

+813

+157

Other

-2

1,823

1,980

843

FY2024/04
2Q Actual

FY2023/04
2Q Actual* Figures of "excluding the impact of the change in the fiscal

FreeBit Co., Ltd. All Rights Reserved. year-end" are unaudited reference figures.

(excluding the impact of thechange in the fiscal year-end)

FY2024/04
2Q Actual(including the impact of thechange in the fiscal year-end) 11

Consolidated Results Summary BS Comparison
Shareholders' equity ratio increased to 27.8% due to increase in retained
earnings resulting from solid performance and reduction of interest-bearing debt
(Millions of yen)

Current
Assets30,640Current
Assets29,936

Liabilities
24,894

Cash
Equivalent
18,305

Cash
Equivalent
17,280Net Assets

11,032
Fixed Assets
5,286

Shareholders'Equity8,242

FY2023/04 4Q (As of April 31St, 2023)
FreeBit Co., Ltd. All Rights Reserved.

Liabilities
22,786

Net Assets
Shareholders’Equity Ratio

13,10922.9%

Fixed Assets
5,959

Shareholders'Equity9,961

FY2024/04 2Q (As of October 31St, 2023)

Shareholders’Equity Ratio

27.8%

12

Net Sales and Operating Income per Employee
Net sales and operating income (base profit) per employee are expected
to increase from the previous fiscal year
SiLK VISION2013

SiLK VISION2020

SiLK VISION
2016

FY2021/04

SiLK VISION
2024(Thousands of yen)

60,00010,000Net sales per capita

40,0005,000

20,0000

0FY2011/04

FY2012/04

FY2013/04

FY2014/04

FY2015/04

FY2016/04

FY2017/04

FY2018/04

FY2019/04

FY2020/04

FY2021/04 FY2022/04 FY2023/04 FY2024/04(Adjusted(Base income) Earnings(Base
Forecasts*3
value*1) income*2)(Base profit)*1 Adjusted figures are unaudited reference figures that exclude the impact of accounting standards for revenue
recognition, off-balance-sheet businesses, strategic investments, and changes in the DTI fiscal year-end.
*2 Base profit values are unaudited reference figures.
FreeBit Co., Ltd. All Rights Reserved. *3 Estimated using the number of employees in the 23rd fiscal period for the 224th fiscal period.

13

2. Financial results by segment for the Second Quarter of FY2024/04

FreeBit Co., Ltd. All Rights Reserved.

14

Composition by segment
Revenues and profits increased in all segments: 5G Infrastructure Support
Business, 5G Lifestyle Support Business, and Corporate and Creator 5G DX
Support Business
5G Infrastructure
Support Business
17.4%

Corporate and creator
5G DX Support Business
34.5%

Net sales

Segment profit or loss

5G Infrastructure Support Business

Actual 4,924 million yen
YoY +4.1%

Net sales
27.073billion yen

Actual 906 million yen
YoY +23.6% (Actual profit)+19.9% (Base profit)

5G Lifestyle Support Business

Actual 13,654 million yen
YoY +22.4%

Actual 1,746 million yen
YoY +78.2% (Actual profit)+61.0% (Base profit)

Corporate and creator 5G DX support business

Actual 9,799 million yen
YoY +21.3%

Actual 428 million yen
YoY +67.8% (Actual profit)+38.9% (Base profit)

5G Lifestyle Support Business
48.1%
FreeBit Co., Ltd. All Rights Reserved.

15

[Performance Progress] 5G Infrastructure Support Business (Mobile Revolution Area)
SiLK VISION 2020

SiLK VISION 2024

SiLK VISION 2027

SiLK VISION 2030

Corporate and Creator 5G DX
Support Business

Creator Maker (StandAlone)
Bizmodel Maker (4.0)

5G Lifestyle Support Business
5G Workstyle / 5G Healthstyle
5G Carlifestyle (MaaS)

5G Lifestyle Support Business
5G Lifestyle（TONE/DTI）
5G Homestyle

Performance zone
5G Infra Platform(MVNE, fixed network, cloud, etc.)

Infrastructure Tech business(freebit, DTI)
Ad-Tech business (FullSpeed)
Real Estate Tech Business (GIGA PRIZE)

5G Homestyle(Internet services targeting housing complex)

Internet marketing
Affiliate
Maker's Maker

5G Infrastructure Support
Business

Most existing businesses haveshifted to the Performance zone.
Growing continuously incorporating
the changing times such as 5G
and eSIM.
16

5G Infrastructure Support Business: Performance Progress
Operating income increased 19.9% year on year due to increase in use of B2B mobile services,
despite decrease in use of B2B fixed network services and increase in personnel expenses

Segment Profit/Loss YoY Variance Analysis

Net Sales and Segment Income (Loss)(Millions of yen)

+283
-39

Net Sales(Actual)

4,000

Segment Income（Actual）
Segment Income（Base Income）※

1,000

-13

3,000

2,328

2,000

-59

2,404

2,376

2,380

2,427

500

340

B2B Mobile: Profits increased due to increased use of services
B2B fixed network: Profits decreased due to decreasein use of services
Increase in personnel expenses due to strengtheningof human resources
Other
Breakdown: ・Development of 5G data-center
・Data collaboration projects, etc.

2,496

468
393

(Millions of yen)

Strategic
investment

-39

-59

-13

Strategic
investment
131

906

438

427
217

0

1,000

FY2023/04
2Q Actual

FY2023/04 2Q
Base income

FY2024/04 2Q
Base income

FY2024/04
2Q Actual

△ 500

0
１Q

２Q

３Q

４Q

FreeBit Co., Ltd. All Rights Reserved.

１Q

２Q* Base profit values are unaudited reference figures.

17

5G Infrastructure Support Business：Mobile Services● For proprietary plans tailored to customer needs
Provide components
Provision of proprietary plans

Provision at bandwidth

Support planning for your own
company. A dedicatedrepresentative will assist yourcompany to differ from yourcompetitors.

We provide the necessary
bandwidth when needed. It can bestarted in the account and migrated
to bandwidth without changing thesetting after user acquisition.

● Sales SIM Composition Trends

Higher value-added data + SMS+ voice increased sales
volume and contributed to sales
100%

80%

Provision of network
operation monitoring
services
We conduct connection with andoperational monitoring of the
docomo Network. You canconcentrate on marketing, sales,and support.

Provision ofmanagement tool
We provide web tools, API, anddata DL sites for user
management. We also provide
traffic visualization tools tocustomers with bandwidth
subscriptions, which allows them tocheck traffic status.

46.6%

54.6%
60%

40%

45.4%

53.4%

Data/SMS/Voice

Component Provision
Provides cloud, VDC, fixed IP,
VoIP, and various security
functions. We also provide
communications equipment suchas smartphones, surveillancecameras, and IoT modules.
User support and shipping are alsoavailable on your behalf. Please
consult us.

FreeBit Co., Ltd. All Rights Reserved.

Data/SMS/Voice

32.9%20%

48.5%

0%

End of 1Q End of 2Q End of 3Q End of 4Q End of 1Q End of 2Q End of 3Q End of 4Q End of 1Q End of 2Q
FY2022

FY2022

FY2022

FY2022

FY2023

Data+SMS+VoiceFY2023

FY2023

Data+SMS

FY2023

FY2024FY2024

Data

18

[Performance Progress] 5G Lifestyle Support Business(Lifestyle Revolution Area)
SiLK VISION 2020

SiLK VISION 2024

SiLK VISION 2027

SiLK VISION 2030

Corporate and Creator 5G DX
Support Business

Creator Maker (StandAlone)
Bizmodel Maker (4.0)

5G Lifestyle Support Business
5G Workstyle / 5G Healthstyle
5G Carlifestyle (MaaS)

5G Lifestyle Support Business
5G Lifestyle（TONE/DTI）
5G Homestyle

Performance zone
5G Infra Platform(MVNE, fixed network, cloud, etc.)

Infrastructure Tech business(freebit, DTI)
Ad-Tech business (FullSpeed)
Real Estate Tech Business (GIGA PRIZE)

5G Homestyle(Internet services targeting housing complex)

Internet marketing
Affiliate
Maker's Maker

5G Infrastructure Support
Business

Most existing businesses haveshifted to the Performance zone.
Growing continuously incorporating
the changing times such as 5G
and eSIM.
19

5G Lifestyle Support Business: Performance Progress
Operating income increased 61.0% year on year due to solid 5G Homestyle and the completion of
investment to expand the store network in the TONE business, etc. (compared to the base)(excluding the impact of the change in the fiscal year end: increased 29.2% year on year)

Segment Profit/Loss YoY Variance Analysis

Net Sales and Segment Income (Loss)
Net Sales (Results)
Segment Income (Actual/Including
the Impact of Change in Fiscal Year-End)
Segment Income (Actual/Excluding
the impact of Change in Fiscal Year-end)*

10,000

+234
-74

2,000

+183

Segment income (Base Income/
Including impact of change in fiscal year-end)*
Segment Income (Base Income/Excluding impact of Change in Fiscal Year-end)*(Millions of yen)

+23

7,600

7,500
6,497
5,477

Incomeof GPG(1 month)

5,679 5,606･ Develop and test 5G Healthstyle area of “TONE Care"･ Web3(Blockchain) related development and testing, etc.
・”LIVING TOWN Minatomirai“ project-related expenses

1,500

Strategic
investment

6,054

1,034

5,000

1,000
711

+398
Strategic
investment

979
2,500

(Millions of yen)
Increase in income due to sales increase in 5G Homestyle(GPG)
Decrease in income due to decrease in use of 5G Lifestyle(DTI) fixed network
services
Increase in income due to decrease of temporary expenses incurred in theprevious fiscal year for the launch of new devices and initial expenses forlaunching of collaboration with docomo shops
Other
Breakdown: ・Acquisition of users for “TONE mobile”

602

555

+234 -74
273 1,253+23 1,619

271

Incomeof GPG(1 month)

1,746

500
504

377

0

0
１Q

２Q

３Q

４Q

１Q

２Q

FY2023/04
2Q Actual

FY2023/04 2Q
Base income

FY2024/04 2Q
Base income

FY2024/04 2Q
Base income(Excluding impactof the change infiscal year-end)(Including impactof the change infiscal year-end)

FreeBit Co., Ltd. All Rights Reserved.* Base income and figures excluding the impact of the change in the fiscal year-end are unaudited reference figures.

FY2024/04
2Q Actual(Including impactof the change infiscal year-end)20

5G Lifestyle Support Business: Performance Progress
The number of units provided for ISP services for apartment buildings, a key indicator of
5G Homestyle(GPG), increased by 78,000 units compared to the end of the previous fiscal
year to a cumulative total of 1,130,000 units, which showed steady progress
FY2024/04
full-year forecast(Unit: thousand units)

122.6

Change from previous

105.1

fiscal year-end

Increase of
78,000 units

90.0
74.5

Actual as of the endof September
Cumulative numberof units provided

56.4

1,130,000
units

End of
FY2020/03

End of
FY2021/03

End of
FY2022/03

End of
FY2023/03(March 31,2020)(March 31,2021)(March 31,2022)(March 31,2023)

End of 2Q
FY2024/04(September 30,2023)

21

5G Lifestyle Support Business Topics“Minato Mirai LIVING TOWN" first phase opening on September 30 (Saturday)
Steadily launching initiatives as test beds that enable people to experience 5G Homestyle, etc.
● "Minato Mirai LIVING TOWN" First Phase Opens
Proposing New Housing and Lifestyle in 5G/web3 Era"LIVING TOWN Minatomirai” first phase opening on
September 30 (Saturday). Working in collaboration with
IoT and other next-generation communications and freebitgroup blockchain technologies, gradually developing
initiatives to propose housing and new lifestyles thatenable people to experience and experience "5G
Homestyle" lifestyles in the 5G/web3 era using advanced
technologies<LIVING TOWN Minatomirai>● Established "Secual Smart Pole" as one of theinitiatives in 5G/web3 era
Progress in preparing PoCs with an eye to“SiLK VISION 2027"
As an initiative aimed at the 5G/web3 era of"LVING TOWN Minato Mirai", we have installed thenext-generation street lights equipped with crime
prevention, disaster prevention, and monitoring
functions.
We are also preparing for PoCs with an eye to "SiLKVISION 2027", and plan to implement themsequentially from the first half of 2024<"Secual Smart Pole" installed in, LIVING TOWN
Minatomirai>

22

5G Lifestyle Support Business：Topics
Launched services for detached rental housing in collaboration with Secual
In the corporate housing management service business, launched services to TOKIUM and NIC
Retails● In addition to the market for apartment buildings,
which has the largest market share, launch of services
for the single-family rental housing market
Introduced services for all-family ISP services “NiSUMU
CONNECT", released jointly with Secual Co., Ltd., in new
single-family rental housing in addition to the residential
property sales sites provided in the past
GIGAPRIZE promotes the development of new customers
and markets, in addition to services for apartment buildings,
its main businessImage of single-family rental housing● Entered into a corporate housing management service
outsourcing agreement with TOKIUM and NIC Retails
In GIGAPRIZE's corporate housing management agency
services, in order to support a significant reduction incorporate housing management operations and costs, theagency provides services related to a wide range ofcorporate housing management, such as introducing
properties through affiliated real estate companies
nationwide, contracting operations for rent, paying rent, andpreparing statutory documents.
Started providing company housing management agency
services to TOKIUM in September and NIC Retails in October

Corporate housing management service image

23

[Performance Progress] Corporate and Creator 5G DX Support Business(Production Revolution Area)
SiLK VISION 2020

SiLK VISION 2024

SiLK VISION 2027

SiLK VISION 2030

Corporate and Creator 5G DX
Support Business

Creator Maker (StandAlone)
Bizmodel Maker (4.0)

5G Lifestyle Support Business
5G Workstyle / 5G Healthstyle
5G Carlifestyle (MaaS)

5G Lifestyle Support Business
5G Lifestyle（TONE/DTI）
5G Homestyle

Performance zone
5G Infra Platform(MVNE, fixed network, cloud, etc.)

Infrastructure Tech business(freebit, DTI)
Ad-Tech business (FullSpeed)
Real Estate Tech Business (GIGA PRIZE)

5G Homestyle(Internet services targeting housing complex)

Internet marketing
Affiliate
Maker's Maker

5G Infrastructure Support
Business

Most existing businesses haveshifted to the Performance zone.
Growing continuously incorporating
the changing times such as 5G
and eSIM.
24

Corporate and Creator 5G DX Support Business ： Performance Progress
Sales and gross profit increased due to strong performance in the Affiliate Business.
Operating income increased 38.9% year on year due to a decrease in SG&A expenses, etc. due to the PMI
effect following the conversion of FS to a wholly owned subsidiary (base comparison)

Segment Profit/Loss YoY Variance Analysis

Net Sales and Segment Income (Loss)
Net Sales(Millions of yen)

+90

Segment Profit/Loss (Actual)

400

Segment Profit/Loss (Base Income) ※
5,130

5,000
4,039

4,339

(Millions of yen)

4,434

Increase in gross profit in the Affiliate Business due to strengtheningof focus areas and acquisition of new customers
Decrease in SG&A expenses due to PMI effects such as resource
optimization associated with the conversion of FS to a wholly owned
subsidiary
Other

+100
-63

4,668

Breakdown ・Multifaced development ofplatforms of ”StandAlone"

4,036

+100
226

231

200

Strategic
investment

Strategic
investment
24

70

197

2,500

-63

159

122
96

0

0
１Q

２Q

３Q

FreeBit Co., Ltd. All Rights Reserved.

４Q

１Q

FY2023/04
2Q Actual

FY2023/04 2Q
Base income

FY2024/04 2Q FY2024/04
Base income
2Q Actual

２Q* Base profit values are unaudited reference figures.

25

Corporate and Creator 5G DX Support Business：Topics

Launch of new features with Internet marketing support toolStandAlone began developing new apps for release● Launch of writing tools using generated AI“Ahrefs", a linked analysis and competitive
research tool, provides writing tools using
generated AI for free, allowing labor saving
in writing
A total of 22 AI tools are installed,
generating sentences that haverecalibrated the inputted text, and also
generating sentences in a variety of styles(solid sentences, easy to familiarize,
casual)● Horizontal development of services for creator
communities is finally launched
Artists' apps are successively released on Fan Community Tool
"StandAlone“, which looks ahead to the web3 era"NAGATOWN" starring actor Takato Nagata who appeared in thetheater "Haikyu!!" released on September 14, and "Hikaridayori"starring actress Hikari Kabashima who appeared in the drama"Temporary Rider Revise" released on October 24
Prepare for the release of "TEAM KEN.1" by Kenichi Ikezoe● "Brand Safe Affiliate" New functions added
Realizing the systemization of parts that had previously
been subjected to human checks and providing services
that are not available to other companies

FreeBit Co., Ltd. All Rights Reserved.

In response to the strengthening of stimulus
measures in the [Brand Safe Affiliate] system for
managing the risk of affiliate advertising toadvertisers
Release of new function [PR notation checker]
Assess whether there are PR descriptions (PR,advertising, promotion, etc.) on the display surface
by the system
Proprietary services that are not provided by othercompanies, which systematize portions of thecontent that used to be performed by personnel
checks and agents

9/14~ [NAGATOWN]

Oct. 24 – "Hikaridayori" Preparing for release "TEAM KEN.1"※ Design may be changed atrelease.

26

3. Progress against the FY2024/04 full-year forecast

FreeBit Co., Ltd. All Rights Reserved.

27

Medium-term management plan "SiLK VISION 2024"
FreeBit Group Earnings Targets for the Fiscal Year Ending April 2024

Aiming for 50 billion yen in sales and 5 billion yen in operating profit(Millions of yen)

52,009Net sales

Operatingincome50,00046,771
43,075

Base
income4,835

Base
income5,291

Base
incomeStrategic
Investment

3,403
Accou
nting
ProfitAccou
nting
Profit

5,000

4,007

3,165

FY2021

FY2022

FY2023SiLK VISION 2024
FreeBit Co., Ltd. All Rights Reserved.

FY2024FY2021

FY2022

FY2023

FY2024SiLK VISION 2024

*1 Net sales and operating income in FY2021 are figures before adjusting "Accounting Standard for
Recognition of Revenue" and other factors.
*2 Base income are the business profit figure excluding temporary investments and unaudited reference figures. 28

Progress against the FY2024/04 full-year forecast (Initial Results Forecast)
Net sales and all incomes at each stage exceeded the initial forecast

Progress (Actual: Excluding the impact
of change in fiscal year end)

Net sales

OperatingincomeOrdinary
incomeQuarterly
incomeattributable toowners ofthe parent
FreeBit Co., Ltd. All Rights Reserved.

Progress (Actual: Including the impactof the change in the fiscal year end)

25.34 billion yen

50.7%
54.1%

27.07 billion yen

53.5%

2.67 billion yen

50 billion
yen

3.07 billion yen

61.4%

2.61 billion yen

58.2%
67.0%

72.9%
79.2%

Full year
Forecasts(Initial)

3.01 billion yen
1.82 billion yen
1.98 billion yen* Figures of "excluding the impact of the change in the fiscal year-end" are unaudited reference figures.

5 billionyen

4.5 billionyen
2.5 billion
yen
29

Upward revision of full-year forecast for the year ending April 30, 2024

(Millions of yen)Previous
Forecast(A)

Revised forecast
Including theimpact of thechange in thefiscal year-end(B)

Excluding theimpact of Change
in Fiscal Year-end(Reference)

Increase/
Decrease(B-A)(Reference)

Percentage
increase/decrease(%)

Actual in
the previous
fiscal year
(FY2023/04)

Net sales

50,00053,00051,269+3,000+6.0%

46,771

Operating income

5,000

5,500

5,102

+500

+10.0%

4,007

Ordinary income

4,500

5,200

4,805

+700

+15.6%

3,707

Net income
attributable to ownersof the parent

2,500

3,000

2,843

+500

+20.0%

1,792

125.25 yen 150.27 yen 142.28 yen--

95.07 yen

Net income per share

Background to the earnings revision
Net sales◼

In addition to expanding the scale of B2B mobile services, especially Freebit, in "5G Infrastructure Support Business", acquiring customers in theaffiliate services, the core business of Full Speed Group, in "Corporate and Creator 5G DX Support Business", and steady progress in the number ofunits provided for the 5G Homestyle (ISP services for apartment buildings) service, the core business of GIGAPRIZE in “5G Lifestyle Support
Business“ , implemented upward revisions to the results forecasts due to the results for the first half of the fiscal year surpassing initialexpectations.

Operating income, ordinary income, and profit attributable to owners of parent◼

In net sales, in addition to the impact of all segments trending above expectations, as in the previous fiscal year, efficient implementation ofstrategic investments and expenses, including SG&A expenses, fell below initial expectations, and as a result, upward revisions were implemented
at each stage of the forecast.

30

Dividend Forecasts for the Fiscal Year Ending April 2024
In the next medium-term management plan, we plan to deepen relationships with stakeholders and strengthen returns.
As part of the initiative, implement the shareholder return policy ahead of schedule in the current medium-term
management plan

Dividend Trend

Disclosed on December 8, 2023

FY2021/04(Actual)FY2022/04(Actual)FY2023/04(Actual)FY2024/04(Forecast)

RecordDate

April 30, 2021

April 30, 2022

April 30, 2023

April 30, 2024

Dividend
per share

7.00 yen

7.50 yen

8.00 yen

27.00 yenTransformation
Term

SiLK VISION 2024

Stable payment of dividends that are not affected by
performance, to form long-term relationships withshareholders

Promote stronger ties
and strengthen returns
to stakeholders
Transform Term due toanticipated achievement of
results ahead of schedule

27.00

FreeBit Co., Ltd. All Rights Reserved.

7.00

7.50

8.00

FY2021/04

FY2022/04

FY2023/04

FY2024/04(Actual)(Actual)(Actual)(Forecast)

31

Disclaimer
Forward-looking statements in this document, including our forecasts, goals, targets, plans
and strategies, are based on information that we believe to be reasonable at the time of
preparation of this document. Actual results and targets may differ materially from these
forecasts and targets due to various factors. These materials are explanatory materials for ourbusiness strategy and are not prepared for the purpose of soliciting investment.

<IR and Inquiries Regarding This Material>
FreeBit Co., Ltd.
In charge of IR, Corporate
Planning Division
Email freebit-ir@freebit.net
WEB https://freebit.com/

FreeBit Co., Ltd. All Rights Reserved.

32

4. Appendix

FreeBit Co., Ltd. All Rights Reserved.

33

Explanation of the Three Revolution Areas and Each Business
Mobile revolution area
In order to solve various social
problems, such as environmental
problems, an aging society, and low
growth, and to realize a sustainable
society, the area provides theinfrastructure that is the foundation
for the improvement of the efficiencyof people's lives and the production
revolution of intelligence.

5G Infrastructure Support
Business

Market potential

A business that provides a platform that supports not
only the creation of "human" but also the creation of"consumer" markets that lead to Connected andreliable use of "goods" at an affordable price through5G and eSIM(SIM software)/AI/Blockchain.

5G related market for the domestic industry is 210.6
billion yen, IoT market is 10.2 trillion yen. We willcontinue to provide stable, safe, and secure
telecommunications infrastructure services, whilebuilding next-generation networks and data centers forthe 5G era and aiming to develop new services utilizing
5G and eSIM.

5G Lifestyle Support Business

Market potential

For the transition to a sustainable
society, people's ways of working,learning, and living will change. Thisis an area in which we solve thesocial problems that are necessary
for this purpose and create newsocieties and values.

Using platforms created by 5G support business,this business builds and provides businessplatforms that support the creation of various”koto (thing)" markets, such as "safe and secure
lifestyles," "healthy lifestyles," "work styles," and"housing," which are unique to 5G era.

With the new corona, people's desire has fallen to the"safety desire" of the 5-stage theory of Mazroe, butwith the spread of vaccines in the future, the higherorder desire (= cost consumption) has been revived.
Accelerating the penetration of IT into lifestyles in 5G
also contributes to the creation of higher-order

Production revolution
area

Support for corporate and creator
5G DX"Structuring of intelligence" tomobilize appropriate knowledge froma vast amount of knowledge forsolving social problems, and theresulting "production revolution of
intelligence" brings about innovation.

A business that supports manufacturing in 5G age byusing a proprietary DX method to build platforms thatenable not only corporations but also creators andinfluencers that will become the core of future
manufacturing, from "(Market Creation)→Value
Creation→Verification→Market
Introduction→Maintenance of Customer Relations."

Lifestyle revolution
area

FreeBit Co., Ltd. All Rights Reserved.

markets-goods→services→outcomes.

Market potential
In Marketing 4.0, creators and influencers do not
simply recommend goods and services, but rather
promote who they themselves can become as a resultof using them. In other words, a market that satisfies
Mazlo's "desire for self-realization" (= costconsumption) is required.

(NOTE)Domestic 5G related markets (2027) and domestic IoT markets (2025) are based on IDC Japan surveys, and MaaS domestic
markets (2030) are based on Fuji Keizai.

34