Results for the 1st Quarter of
FY March 2025

July 29, 2024
BIPROGY Inc.

Acquisition and Cancellation of Treasury SharesAcquiring and cancelling treasury shares as well as deciding on a policy about holding treasury shares(3% at maximum)
Continuing growth investments (of at least JPY 70.0 billion) as indicated in the Management Policies (2024-2026)[ Contents of the Resolution as of July 29, 2024 ]Decision on the acquisition of own shares and the acquisition of own shares through ToSTNeT-3
Total number of shares to be acquired

3,000,000 shares (maximum)(Percentage of total number of shares issued (excluding treasury shares): 3.0%)

Total amount of share acquisition cost

¥13,707,000,000 (maximum)

Period of acquisition

at 8:45 am on July 30, 2024

Method of acquisition

Acquisition through off-auction own share repurchase trading system (ToSTNeT-3)

Decision on matters relating to the cancellation of treasury shares
Total number of shares to be cancelled

9,000,000 shares

Scheduled date of cancellation

August 30, 2024

Total number of shares issued after cancellation

100,663,524 shares[ Handling of treasury shares held by the Company ]Policy to retain treasury shares of 3% of the total number of issued shares at maximum, and cancel the excess portion of thetreasury shares©2024 BIPROGY Inc. All rights reserved.

FYMar2025 Q1 Consolidated Performance Results

Revenue of all business segments increased. It even absorbed an increase in SG&A expenses. As a result, operating profit waspushed up.
Services took the lead in the stable performance of orders and order backlogs. Order backlogs to be posted as revenue within thefiscal year also steadily increased.
(Unit：Billion Yen)FYMar2024
Q1 (Apr-Jun)

Revenue
Gross Profit
SG&A Expenses
Share of profit (loss) of investments accounted for using
equity method / Other income and expenses

Operating Profit（Operating Margin）
Profit attributable to Owners of Parent
Adjusted Operating Profit*（Adjusted Operating Margin）

OrdersOrder Backlogs(Order backlogs in the next FY)

FYMar2025
Q1 (Apr-Jun)(Revenue)
Revenue was strong and increased in all business segments.
Outsourcing and product sales drove the strength of revenue.

YoY

79.9
20.4
-14.6

88.421.6
-15.3

+8.5
+1.2
-0.7

0.1

0.3+0.2

5.8(7.3%)
4.4

6.6(7.4%)
4.9+0.7(+0.1pt)+0.5(+12.1%)

5.8(7.2%)

6.3(7.2%)+0.6(+9.7%)(-0.1pt)

78.1
272.1
123.5

88.6
290.1
129.6

(+10.6%)(+6.1%)(+4.6%)(+12.8%)

+10.5
+18.0

(+13.5%)(+6.6%)+6.1(+4.9%)＊ Adjusted operating profit is the result obtained after deducting selling, general and administrative expenses and cost of sales from revenue.

(Operating Profit)
Gross profit was pushed up by the strong revenue.
Gross profit even absorbed SG&A expenses. As a result, operating
profit was increased.
・Gross profit
Gross profit increased as a result of the revenue increase. A
decrease in system services gross profit and an increase inoutsourcing costs among others shrank gross margin.
・SG&A expenses
SG&A expenses were driven by renewing internal core systems andrevising personnel systems. (an increase of JPY 0.6 billion in internal
system costs, an increase of JPY 0.4 billion in personnel costs)
・Share of profit (loss) of investments accounted for using equity
method / Other income and expenses
An increase in the share of profit, partly due to a strong performanceof an overseas affiliate accounted for by equity method(Profit Attributable to Owners of Parent)
Strong operating profit drove profit.
(Orders and Order Backlogs)
Strong services segments drove order amount and also order backlogs.
Order backlogs to be posted as revenue within the fiscal year steadily
increased.

1©2024 BIPROGY Inc. All rights reserved.

FYMar2025 Q1 Revenue and Gross Profit by Segment【Revenue and Gross Profit (Gross Margin) by Segment】
FYMar2024
Q1 (Apr-Jun)
Revenue

System services
Support services
Outsourcing
Other services
SoftwareHardware
Total

28.1

Gross Profit(Gross Margin)

Revenue

9.7

28.4

3.9

13.7

4.0

21.4

0.6

2.6

0.4

9.6

1.8

12.5

20.4
(25.5%)

4.5+1.0(+7.6%)

4.0+2.8(+15.1%)

0.6+0.1(+2.7%)

0.8+1.8(+23.5%)

2.4+2.5(+24.4%)+8.5(+10.6%)(18.8%)(17.9%)
79.9(+1.3%)(7.9%)(5.4%)
10.1+0.4(22.8%)(22.9%)
7.8

9.4

Revenue(18.7%)(21.6%)
2.6

Gross Profit(Gross Margin)(33.2%)(30.4%)
18.6

YoY(32.9%)(34.5%)
12.7(Unit：Billion Yen)FYMar2025
Q1 (Apr-Jun)

88.4

21.6
(24.5%)(System services)
System services revenue growth was driven by digitaltransformation (DX) projects posted for a wide range ofGross Profit
business sectors. However, system services gross profit was(Gross Margin)
diminished mainly due to posting provisions (of JPY 0.1 billion)
for an unprofitable project and a decrease in highly profitable-0.3(-3.4%) projects.
(-1.6pt)+0.7(+17.3%) (Support Services)
Support services revenue and gross profit increased on the(+2.7pt)- basis of an increase in small and medium-size projects.
-0.0(-0.3%)(Outsourcing)(-2.9pt)- Outsourcing revenue was driven through expansions of the+0.0(+2.6%) cloud services provided by other companies and ITO services.
However, outsourcing gross profit remained at the same level(-0.0pt)
as in the same quarter of the previous fiscal year. It is+0.3(+80.3%) attributable to costs for strengthening functions of multiple(+2.5pt)- services as well as an increase in the revenue from cloudservices provided by other companies.
+0.6(+30.5%)(+0.9pt)+1.2(-1.1pt)- (Software)
Software revenue was driven mainly by small and mediumsize projects posted for financial institutions as well as the- service industry. Software profitability was pushed up by
improving the product mix.

(+6.1%)(Hardware)

Hardware revenue and gross profit increased due to posting alarge-scale infrastructure project and an increase in small andmedium-size projects.
2©2024 BIPROGY Inc. All rights reserved.

FYMar2025 Q1 Orders and Order Backlogs by Segment【Orders by Segment】(Unit：Billion Yen)FYMar2024
Q1 (Apr-Jun)

FYMar2025
Q1 (Apr-Jun)

System services

30.5

32.2+1.7(+5.7%)

Support services

11.9

16.6+4.7(+39.2%)

Outsourcing

15.7

19.3+3.6(+22.7%)

Other services

3.0

2.6-0.4(-14.6%)

Software

7.2

6.6-0.5(-7.6%)

Hardware

9.8

11.3+1.5(+15.7%)

Total

78.1

88.6

+10.5(+13.5%)【Order backlogs by Segment】
FYMar2024
End of Q1
Orderbacklog(Support Services)
Support services orders and order backlogs increased on the basisof an increase in the projects of creating networks for government
and municipal offices as well as small and medium-size projects.

(Unit：Billion Yen)FYMar2025
End of Q1

in thecurrent FY*(System services)
The company obtained small and medium-sized projects mainly
related to DX for customers in a wide range of industries such as
financial institutions, retailers and business operators in the service
industry. System services orders and order backlogs increased.
Order backlogs to be posted within the fiscal year increased
steadily.

YoY

Order
backlog

YoY

in thecurrent FY*

Order backlog

in the current FY*

System services

38.8

34.5

40.7

36.1

+2.0(+5.1%)+1.5(+4.4%)

Support services

45.0

26.9

51.0

29.2

+6.0(+13.4%)+2.2(+8.3%)

Outsourcing

156.4

37.6

170.6

42.3

+14.2

(+9.1%)+4.6(+12.3%)

Other services

5.3

3.9

6.2

3.8

+0.9

(+17.9%)-0.1(-2.5%)

Software

7.5

6.2

6.1

5.8

-1.3

(-17.8%)-0.4(-6.4%)

Hardware

19.2

14.3

15.4

12.5

-3.8(-20.0%)-1.8(-12.7%)

Total

272.1

123.5

290.1

129.6

+18.0(+6.6%)+6.1(+4.9%)(Outsourcing)A system renewal project for a financial institution increased
outsourcing orders. BankVision projects awarded in Q4 of theprevious fiscal year contributed to an increase in order backlogs
and orders to be posted within the fiscal year.
(Software)
Software small and medium-size projects were less than Q1 of theprevious fiscal year. Orders and order backlogs decreased.
(Hardware)
Hardware orders increased based on small and medium-size
projects. Order backlogs were diminished after drawing down for
posting revenue.

*to be posted as revenue within the current FY

3©2024 BIPROGY Inc. All rights reserved.

FYMar2025 Q1 Progress of Businesses in the Focus Areas belonging to the Core Businesses【Revenue and Operating Profit (Margin) of Businesses in the Focus Areas belonging to the Core Businesses】
FYMar2024
Q1 (Apr-Jun)
Revenue

Financial
RetailEnergyMobility
OT Infrastructure
Total revenue

9.9

FYMar2025
Q1 (Apr-Jun)

Gross Profit(Gross Margin)

1.4

Revenue

9.5

4.7

0.8

5.3

0.5

4.7

0.9

6.8

0.2

3.4

3.7
(13.3%)(-4.4%)

0.7
0.5
0.8
0.429.6

3.4(11.5%)-0.4(-30.5%)

Revenue

43.2+0.6(+13.1%)-0.0(-2.0%)

23.2

+0.5

(+12.1%)-0.0(-1.3%)

18.2(+14.4%)-0.1(-9.8%)

26.7(-1.7%)+0.2(+83.0%)18.2(+5.2%)-0.3(-1.8pt)

45.5

3.5
2.5
3.5
1.1

(-9.0%)

129.6

13.9(10.7%)

YoY

Gross Profit(Gross Margin)

3.9

Revenue+2.3(+5.3%)(8.5%)

24.5

3.9

19.0

2.8

+1.3

(+5.6%)

4.0+0.8(+4.2%)

1.2+1.8(+6.8%)

15.8(11.6%)+0.4(+11.9%)+0.3(+11.1%)+0.5(+13.3%)(+0.8pt)+0.8(+4.4%)(6.5%)

136.5(+19.3%)(+0.9pt)(14.0%)

19.0

+0.6

(+0.9pt)(14.5%)

28.5

Gross Profit(Gross Margin)(+1.0pt)(16.0%)(6.1%)(+5.8pt)

+1.5

3.2

(13.2%)(-3.2pt)-0.1

Revenue(13.6%)(-1.3pt)+0.9

Gross Profit(Gross Margin)(15.1%)(-2.2pt)(Unit：Billion Yen)FYMar2025(Full Year Target)(7.5%)(-3.8pt)(12.6%)(6.8%)

28.1-0.4(11.8%)(14.9%)

3.5

Revenue(9.9%)(11.2%)

5.9

1.0

Gross Profit(Gross Margin)(14.1%)(16.3%)

4.2

YoY

Gross Profit(Gross Margin)(10.1%)(14.0%)FYMar2024(Full Year Results)+0.1(+11.2%)(+0.4pt)+6.9(+5.4%)+1.9(+13.8%)(+0.9pt)

Financial sector:

Revenue was dropped partly due to impacts from an end of a development cycle of large-scale systems. BankVision on Azure began toserve its fourth customer in May 2024.

Retail sector:

Utilization of electronic shelf label solutions increased at retailers, and our e-commerce platform service DIGITAL’ATELIER saw an increase.

Energy sector：DX projects for energy-related companies and Enability, power retailing cloud service, continued to be strong.

Mobility sector:

The Company has begun to provide services related to payment/settlement for a railroad companies. It re-uses knowledge and expertisethat it obtained from serving customers in the financial industry and distribution industry. The dashcam business continued to be strong.

OT Infrastructure sector: The Company has been making attempts to approach existing customers and draw their attention in the OT network and security areas.
Customers show strong interest in investment and pipelines are on the increase.
4©2024 BIPROGY Inc. All rights reserved.

FYMar2025 (Full-Year) Performance Forecast


No Revisions

No revisions are made to forecast values announced at the beginning of the fiscal year.
SG&A expenses trajectory has closely followed our expectations.
FYMar2024(Full YearResults)

FYMar2025(Full YearForecast)(Unit：Billion Yen)
YoY

370.1
97.2
-63.4

385.0
101.2
-66.2

+14.9
+4.0

(+4.0%)(+4.1%)-2.8(+4.5%)

-0.5

0.5

+1.0

33.3
(9.0%)

35.5(9.2%)+2.2(+0.2pt)(+6.6%)（Operating Margin）
Profit attributable toOwners of Parent

25.224.5-0.7(-3.0%)

33.8(9.1%)

35.0(9.1%)+1.2(-0.0pt)(+3.5%)

Dividens per share
Mid-term Dividend
Year-end Dividend

100
4555

+0+5-5Dividend Payout Ratio(39.8%)

100
5050Revenue
Gross Profit
SG&A Expenses
Share of profit (loss) of investments accounted for using
equity method / Other income and expenses

Operating Profit

Adjusted Operating Profit*（Adjusted Operating Margin）(41.0%)＊Adjusted operating profit is the result obtained after deducting SG&A expenses and cost of sales from revenue.

(Unit：Yen)(+0.0%)(+11.1%)(-9.1%)(+1.2pt)

5©2024 BIPROGY Inc. All rights reserved.

(Reference) FYMar2025 Q1 Performance Breakdown Details（Unit: Billion of Yen）

【Changes in Revenue】

Increase inServices+4.2

Revenue

79.9

System Services
Support Services
Outsourcing
Other Services＋8.5

Increase in
Products Sales+4.3+0.4+1.0+2.8+0.1

SoftwareHardware

Revenue+1.8+2.5

88.4

FYMar2025 Q1

FYMar2024 Q1【Changes in Adjusted Operating Profit】
Increase inServices+0.４

AdjustedOperatingProfit5.8FYMar2024 Q1

System Services
Support Services
Outsourcing
Other Services

-0.2
+0.7
-0.0+0.0

Unprofitable
Project-0.1
Unprofitable project(System Services)-0.1

Increase inProducts
Sales+0.9

SoftwareHardware

Increase inSG&AExpenses- 0.7+0.3+0.6
Increase in internal system costs
Increase in personnel expenses
Decrease in R&D expenses
Decrease in other expenses

＋0.6

-0.6
-0.4
+0.0+0.3

Adjusted
Operating
Profit6.3

Gross Profit +1.2
FYMar2025 Q16©2024 BIPROGY Inc. All rights reserved.

FYMar2025 (Full-Year) Performance Forecast Breakdown Details（Unit: Billion of Yen）

【Changes in Revenue】

370.1

System Services
Support Services
Outsourcing
Other Services＋14.9

Increase in
Products Sales+ 4.7

Increase inServices+10.1
Revenue

SoftwareHardware+2.7+2.0

Revenue

385.0+2.0+1.1+5.4+1.7

FYMar2025 Full-Year Forecast

FYMar2024 Full-Year【Changes in Adjusted Operating Profit】
Increase inServices+3.5
AdjustedOperatingProfit

33.8

FYMar2024 Full-Year

No Revisions

System Services
Support Services
Outsourcing
Other Services

Increase inProducts
Sales+1.0
SoftwareHardware+0.6+0.4+1.8+0.3+1.1+0.3Risks partly from
unprofitable projects(of system services)-0.5

Increase inSG&AExpenses- 2.8【Key Factors Conducive to the Increase in SG&A Expenses】･Increase in R&D expenses
0.5
・Pay raise and introduction of new personnel system 1.0
・Medium and long-term facility plan
0.6
・Postponing renewal of core systems
0.7・Others
0.2＋1.2

Increase in R&D expenses-0.5
Increase in personnel expenses-1.1
Increase in internal systematization expenses-0.5
Increase in office expenses-0.6
Increase in other expenses-0.1

AdjustedOperatingProfit35.0

Gross Profit +4.0
FYMar2025 Full-Year Forecast
7©2024 BIPROGY Inc. All rights reserved.

Names of companies or products herein described are trademarks or registered trademarks of their respective organizations.
(Note)
Forecasts in this document rely on judgments and assumptions based on information available at present. Actual results may differ from the forecasts due to changes in risks, uncertainties, economy and otherfactors. Thus, the certainty of these forecast is not guaranteed by our Group. Also, the information is subject to change without prior notice in future. Information in this document is intended to provide further
understanding of BIPROGY Inc. and is not intended to solicit investment. This Company shall not be held responsible for any damages whatsoever incurred as a result of utilizing the information provided in thisdocument.