Kufu Company Inc.

FY2022.9
Presentation Material
November 14, 2022

Agenda1. Consolidated Financial Results for FY2022.9
2. Forecast of Consolidated Financial Results for FY2023.9
3. Business Overview by Segment• Daily Life Business• Life Event BusinessKufu Company Inc.

1. Consolidated Financial Resultsfor FY2022.9

Group Composition (Main Group Companies as of November 2022)
Life Event Business

Daily Life Business
Daily and community life
domainMarriagedomainHome domain

Shopping information service andlifestyle information media

Regional information media

Management
consulting service

Consulting service forhigh-net-worth individuals
Wedding information media
and service

Household budget service

Educational app

Home and real estate specialized media and purchaseand resale service*Established through the merger of O-uccino, Inc. and Ouchino Kufu
Co., Ltd. on October 1, 2022

Investment and Incubation Business
Investment and businessdevelopment domain

OthersDesign development
domainTechnology development
domainBusinessmanagement domain(Affiliate)
Holding company(Investment)

Insurance sales agency

Investment
management

Informational website fortrips with children

Development and sales of
insurance productsSome of the business segments and domains were changed in September 2022.

Research and development

Holding company(Support for operatingcompanies)

Consolidated Financial Results
・EBITDA for the fiscal year ended September 2022 was higher than the full-year forecast
・Net sales and operating profit both grew approx. 1.6 times year on year
FY2020.9* FY2021.9* FY2022.9*

FY2022.9

ResultResultForecast

ResultYoY

Achievement
rate

Net Sales

6,042

11,25618,00018,625165.5%

103.5%

Operatingprofit

604

1,000

1,300

1,558

155.7%

119.9%EBITDA

890

1,617

2,300

2,581

159.6%

112.2%(JPY MM)•

Results for FY2020.9 (Oct. 2019 to Sep. 2020) and FY2021.9 (Oct. 2020 to Sep. 2021) are the simple aggregate of consolidated earnings results for the former KUFU COMPANY INC. andLocoguide Inc. for each period (unaudited).

Highlights of FY2022.9 Consolidated Financial Results
・The Group posted EBITDA of 2,581 million yen for the fiscal year ended September 2022 (FY2022.9),
making good progress toward the FY2026 target of 10 billion yen.
Progress by segment
Daily and community life domain

Daily Life Business・ The Tokubai business was in line with the plan. Made steady progress to expand revenue from the next fiscal year onward,
including preparation for price revision.
・ Group companies other than Locoguide Inc. each made contribution to profit.
Home domain
・ The purchase and resale service business and the business for high-net-worth individuals grew and became profitable.
・ Sales of tools for real estate agencies were robust. Restructuring of the media is a priority issue for the next fiscal year.

Life Event Business・ As its Securities-on-Alert designation was lifted, HyAS & Co. Inc. is prepared for profit growth going forward.
Marriage domain
・ Earnings were not yet to be recovered, while profit was posted for full year.
・ Won orders from marriage venues as planned and aims to expand sales to meet high post-pandemic demand.

Investment andIncubation Business

Investment and business development domain
・ The investment business recorded proceed from selling some of operational investment securities in Q4.
・ Acquired shares in ActIndi, Inc and promoted business expansion of the Group business.

Consolidated Quarterly Financial Results・ In Q4 of FY2022.9, profit increased both QoQ and YoY
・ Sales and profit excluding the investment business increased QoQ・ Profit exceeded profit for FY2021.9 Q4 that recorded 5-month profit of HyAS & Co. Inc.
FY2021.9＊1

FY2022.9

Q1

Q2

Q3

Q4＊2

Q1

Q2

Q3

Q4

YoY

QoQ

Net Sales

1,340

2,053

1,695

6,166

4,528

4,599

4,175

5,321

86.3%

127.5%

Operatingprofit

156

261

143

438

369

403

233

551

125.7%

236.6%EBITDA

226

358

247

784

626

658

488

808

103.0%

165.6%(JPY MM)*1: Results for FY2021.9 (Oct. 2020 to Sep. 2021) are the simple aggregate of consolidated earnings for the former KUFU COMPANY INC. and Locoguide Inc. (unaudited). Profit (loss) from KIDSSTAR Inc. was consolidated from the second quarter of FY2021.9, and profit (loss) from SHIZUOKAONLINE CO., LTD. and HyAS & Co. Inc. was consolidated from the fourth quarter of FY2021.9.
*2: In accordance with the change in accounting period of HyAS & Co. Inc, five months of profit (loss) of HyAS & Co. Inc. from May to Sep. 2021 were recorded in the fourth quarter of FY2021.9.

Consolidated Financial Results – Quarterly Trends
・ Sales and profit increased QoQ・ Sales and profit also increased YoY
Net Sales

Operatingprofit

5,321*2

JPY MM

808

JPY MM

551*2

JPY MM(JPY MM)(JPY MM)FY2021.9*1

FY2022.9

FY2021.9*1

FY2022.9*1: Results for FY2021.9 (Oct. 2020 to Sep. 2021) are the simple aggregate of consolidated earnings for the former KUFU COMPANY INC. Profit (loss) from KIDS STAR Inc. was consolidated fromthe second quarter of FY2021.9, and profit (loss) from SHIZUOKAONLINE CO., LTD. and HyAS & Co. Inc. was consolidated from the fourth quarter of FY2021.9.
*2: In accordance with the change in accounting period of HyAS & Co. Inc, five months of profit (loss) of HyAS & Co. Inc. from May to Sep. 2021 were recorded in the fourth quarter of FY2021.9.

Consolidated Financial Results – Quarterly Trends (Ex. HyAS)
・ Excluding the impact of the consolidation of HyAS & Co. Inc.,
sales and profit increased both QoQ and YoY
Net Sales

Operatingprofit

2,991

502

380

JPY MM

JPY MM

JPY MM(JPYMM)(JPYMM)
FY2021.9*

FY2022.9

FY2021.9*

FY2022.9* Results for FY2021.9 (Oct. 2020 to Sep. 2021) are the simple aggregate of consolidated earnings for the former KUFU COMPANY INC. Profit (loss) from KIDS STAR Inc. was consolidated from thesecond quarter of FY2021.9, and profit (loss) from SHIZUOKAONLINE CO., LTD. was consolidated from the fourth quarter of FY2021.9.

Consolidated Quarterly Financial Results – Net Sales by Segment
・ Net sales of each business increased QoQ・ Sales associated with disposal of part of operational investment securities were posted in Q4
FY2021.9*1
Q1
Daily Life Business

Q3

Q4

Q1

Q2

Q3

Q4

YoY

QoQ

*2
614

713

769

960

1,101

1,101

1,056

1,143

119.1%

108.2%

678

916

891

5,174

3,401

3,473

3,092

3,675

71.0%

118.8%

Investment andIncubation Business

16

409

18

15

25

16

24

495

3,133.2%

2,035.4%

Other

61

57

48

43

36

39

30

39

91.2%

130.3%

Adjustment

-30

-44

-31

-27

-36

-31

-28

-32

-

-

Life Event Business

Net Sales

Q2

FY2022.9*3(JPY MM)*1: Results for FY2021.9 (Oct. 2020 to Sep. 2021) are the simple aggregate of consolidated earnings for the former KUFU COMPANY INC*2: In the Daily Life Business, profit (loss) from KIDS STAR Inc. was consolidated from the second quarter of FY2021.9, and profit (loss) from SHIZUOKAONLINE CO., LTD. was consolidated from thefourth quarter of FY2021.9.
*3: In the Life Event Business, profit (loss) from HyAS & Co. Inc. was consolidated from the fourth quarter of FY2021.9. In accordance with the change in accounting period of HyAS & Co. Inc, fivemonths of profit (loss) of HyAS & Co. Inc. from May to Sep. 2021 were recorded in the fourth quarter of FY2021.9.

Consolidated Quarterly Financial Results – OP and EBITDA
・ In the Life Event Business, profit significantly increased QoQ due to the concentrated deliveries of custom-built
houses in this quarter in the construction business of HyAs & Co. Inc.
・ As noted, profit associated with disposal of a part of operational investment securities was recorded in Q4
FY2021.9*1
Q1
Daily Life Business

Q3

Q4

Q1

Q2

Q3

Q4

YoY

QoQ

*2
176

185

207

220

365

351

278

282

128.4%

101.5%

93

121

103

419

251

287

206

302

72.1%

146.7%

Investment andIncubation Business

-13

64

-15

-11

-8

-6

-5

202

-

-

Other

-13

-10

-19

-27

-31

-27

-34

-31

-

-

Adjustment

-86

-100

-133

-161

-208

-202

-211

-204

-

-

Life Event Business
OperatingprofitQ2

FY2022.9*3*1: Results for FY2021.9 (Oct. 2020 to Sep. 2021) are the simple aggregate of consolidated earnings for the former KUFU COMPANY INC(JPY MM)*2: In the “Daily Life Business,” profit (loss) from KIDS STAR Inc. was consolidated from the second quarter of FY2021.9, and profit (loss) from SHIZUOKAONLINE CO., LTD. was consolidated fromthe fourth quarter of FY2021.9.
*3: In the “Life Event Business,” profit (loss) from HyAS & Co. Inc. was consolidated from the fourth quarter of FY2021.9. In accordance with the change in accounting period of HyAS & Co. Inc, five months ofprofit (loss) of HyAS & Co. Inc. from May to Sep. 2021 were recorded for in the fourth quarter of FY2021.9.

Consolidated Financial Results – B/S
As ofestablishment
in Oct. 2021

As of end-Sep.
2022

Change15,613

14,826-787(Cash and deposits)

7,780

7,269

-511

(Operational investment securities)

3,335

2,979

-356

(Real estate for sale)

2,412

2,758

345

Non-current assets

6,374

6,498

124

(Goodwill)

4,190

3,526

-664

(Investments and other assets)

1,096

2,047

950

Assets

22,00021,329-670

Liabilities(Short-term and long-termborrowings)
Net assets(Retained earnings)(Treasury shares)(Valuation difference on availablefor-sale securities)
Total liabilities and net assets

10,460

9,666

-793

6,432

5,856

-576

11,540738-

11,663
1,191
-443

122
452
-443

・ Short-term borrowings and long-termborrowings decreased by 576 million yen

455

399

-56

・Treasury shares increased by 443 million
yen through purchasing

22,00021,329-670

Current assets* Items in parentheses are included in totals.

Change factors
・ Cash and deposits declined by 511 million
yen mainly due to the repayment ofborrowings and the acquisition of investment
securities, offsetting cash acquired throughoperating activities
・Operational investment securities decreased
by 356 million yen mainly due to the partial
disposal of operational investment securities
and revisions to the book value as a result of
the receipt of dividends
・ Investment and other assets increased by
950 million yen mainly due to the acquisitionof investment securities(JPY MM)

Consolidated Financial Results – Profit Analysis
Operating profit

1,558 JPY MM

Main items

Non-operating P/L,
extraordinary P/L-518 JPY MM

Profit attributable toowners of parent ÷
Operating profit

Profit before income
taxes

1,040 JPY MM

Total income
taxes-431 JPY MM

Effective
tax rate

41.5 ％Net profit

608 JPY MM

Net profit attributableto owners of parent

452 JPY MM

Net profit attributable tonon-controlling interests-155 JPY MM

Provision for loss on relocation-244 JPY MM

Provision for loss on businessliquidation-81 JPY MM

Impairment losses-68 JPY MM

Main reasons for difference from normal
effective statutory tax rate (34.6%)
Increase in taxable income due toamortization of goodwill (non-deductible)＋664 JPY MM

Decrease in taxable income due to loss
carried forward-307 JPY MM

Companies in scope
HyAS & Co. Inc., Zaim Inc.,
KidsStar Inc., etc.

Consolidated Financial Results – Cash Flow Analysis
Increase in working capital, etc.
440 JPY MM
Income taxes paid (net)586 JPY MMEBITDA
2,581 JPY MM

Net cash provided byoperating activities
1,553 JPY MM

Purchase ofinvestment securities, etc.
773 JPY MM
Repayments ofborrowings, etc. (net)593 JPY MM

Purchase of treasury shares
443 JPY MM

Cash at beginningof period
7,750 JPY MM

Cash at end of
period7,238 JPY MM

FY2022.9

Group Business Foundations (as of Sep. 30, 2022)

Users
Support users’ activities through three contact points with them

Maximize contact points
with users

Indirectly provide services to users
through support for business operators

Monthly active users*1

Contract accounts*2

Approx. 42 million

Approx. 61,150

Provide useful tools for daily life andspecialized services for life events
Total tool downloads*3

Services provided
annually*4

Approx. 24.7million Approx. 4,000*1: Total users as of the end of Sep. 2022 for the main media and tools in the daily and community life domain, home domain, and marriage domain (browser or device base). Based on simple aggregate, without taking into consideration users of multiple media or tools.
*2: Total as of the end of Sep. 2022 of stores using “Tokubai” (paid and unpaid), stores posting ads and using tools and services to support operations offed by O-uccino, Inc., member companies for services provided by HyAS & Co. Inc., and venues trading withanymarry Co., Ltd.
*3: Total cumulative apps downloaded as of the end of Sep. 2022 for “Tokubai,” “Zaim,” and “Gokko Land.”*4: Total of estimate of annual wedding ceremonies produced by anymarry Co., Ltd. as of Sep. 2022, number of services offered over the past one year in home domain (ex. HyAS & Co. Inc.), and number of consultations in “Ietate Sodan Counter” over the past one
year in SHIZUOKAONLINE CO., LTD.

Group-wide Media Monthly Active Users• Group-wide media monthly active users have grown to approx. 42 million
on a simple aggregate base42 million

Monthly active users*(Million users)

Mar.
2019

Jun.

Sep.

Dec.

Mar.
2020

Jun.

Sep.

Dec.

Mar.

Jun.

Sep.

2021

* Total users for the main media and tools in the daily and community life domain, home domain, and marriage domain (browser or device base).
Based on simple aggregate, without taking into consideration users of multiple media or tools.

Dec.

Mar.
2022

Jun.

Sep.

Group-wide Contract Accounts• Tokubai’s subscriber stores increased as a major electric appliance retail chain started subscription• Non-subscriber stores decreased mainly due to the increase in subscriber
stores and expiration of some non-subscriber stores
Tokubai subscriber stores• Launched new initiatives with convenience stores*1

Other

Number of contract accounts*2

Tokubai non-subscriber
stores

Mar.
2019

Jun.

Sep.

Dec.

Mar.
2020

Jun.

Sep. Dec.

Mar.
2021

Jun.

Sep.

Dec.

Mar.
2022

Jun.

Sep.

Jun.

Sep.

*1: The number of contract accounts does not include accounts linked with initiatives with approx. 16,000 convenience stores.
*2: Total of stores using “Tokubai” (paid and unpaid), stores posting ads and using tools and services to support operations offered by O-uccino, Inc., member companies for services provided by HyAS &Co. Inc., and venues trading with anymarry Co., Ltd.

Kufu Company Inc.

2. Forecast of Consolidated
Financial Results for FY2023.9

Group Management Target by FY2026.9 (5th Term)
Group EBITDA*2

Monthly active users*1

60 million

10 billion yen*3

Ratios of main business segments*4

Daily Life Business
Daily and community
life domain*1: Total users for the main media and tools in the daily and community life domain(browser or device base). Based on simple aggregate, without taking into
consideration users of multiple media or tools.

*2:
*3:
*4:
*5:

Life Event Business
MarriagedomainHome domain*5

EBITDA (operating profit + depreciation and amortization)
Target to be achieved through organic growth of each group companies.
Ratio of each business segment based on the sum of the Daily Life Business and the Life
Event Business.
The home domain includes HyAS & Co. Inc.

Forecast of Consolidated Financial Results for FY2023.9• In FY2023.9, we expect to post operating profit of 2 billion yen (128.4% YoY) and
EBITDA of 3.1 billion yen (120.1% YoY)
FY2022.9
ResultFY2023.9

Forecast

YoY

Net Sales

18,62521,000112.8%

Operatingprofit

1,558

2,000

128.4%EBITDA

2,581

3,100

120.1%(JPY MM)

Assumption of Forecast of Consolidated Financial Results for FY2023.9
・ In FY2023.9, we expect to post operating profit of 2 billion yen (128.4% YoY) and
EBITDA of 3.1 billion yen (120.1% YoY)

Each business assumption
Daily and community life domain

Daily Life Business• Plan to revise pricing of Tokubai mainly through increasing and improving services for corporates.
• Expect the number of Tokubai subscriber stores to increase at roughly the same pace as the previous year.
• Plan to launch new products jointly developed by Zaim and Tokubai.
Home domainLife Event Business• Expand target users of tools for operators to include builders, etc.
Media aims to increase users and accelerate monetization by offering original content and increasing
service collaboration.
• The purchase and resale service business will control purchasing in light of the real estate market.
The high-net-worth business specializing in real estates in Hawaii will keep a close watch on FX trend.
• HyAS & Co. Inc. sees a market slowdown based on the current downturn in the new housing market.
Marriage domain• Plan to revise pricing of media ads placement mainly by increasing and improving services for venues.
• The number of orders of wedding production is expected to increase due to a recovery of domestic demand.
• Enhance added value to users by posting content of actual examples and improving consulting agent function.

Investment andIncubation Business

Investment and business development domain• Acquired shares in the operator of travel and going out service “RETRIP” and continues to expand the Groupbusiness.
• Expect existing invested companies to remain strong.

Share Acquisition: “RETRIP” Travel and Going Out Service• Announced in September the acquisition of shares in the operator of“RETRIP” travel and going out service• This additional “travel” business allows the Group to strengthen content
for local information through collaboration with existing media in the Groupand to offer services to cater to younger users’ needs

Kufu Company Inc.
64.3% equity interest(From FY2023.9 Q2, profit is to be consolidated)

RETRIP, Inc.
On December 1, 2022, trippiece Inc. and CultureStudioTokyo, Inc.*
are to be integrated under the name of RETRIP, Inc.
* CultureStudioTokyo, Inc. (headquartered in Minato, Tokyo) that is a minority shareholder of thecompany and has the same name as the company is a legal entity with no capital relationship with
us and thus out of scope of this integration.

Travel and going out service “RETRIP”

Kufu Company Inc.

3. Business Overview by Segment

Daily Life BusinessDaily Life Business – Financial Results – Quarterly Trends• The Tokubai business has grown steadily• Retail Reserch Institute inc. (a subsidy of Locoguide Inc.) offering DX information service exclusively forthe retail and distribution industry held an event targeting the industry in September, which contributed toearnings

SHIZUOKAONLINE

1,143

Net Sales

Operatingprofit

JPY MM

KIDS STAR

282

Kufu Lifestyle

JPY MM

Locoguide

318

JPY MM

Locoguide+
Kufu Lifestyle(integrated on Apr. 1, 2022)(JPYMM)

Oct.-Dec.

Jan.-Mar.

2020

2021

Apr.-Jun.

Jul.-Sep.

Oct.-Dec.

Jan.-Mar.

2022

Apr.-Jun.

Jul.-Sep.

(JPYMM)

Oct.-Dec.

Jan.-Mar.

2020

2021

Apr.-Jun.

Jul.-Sep. Oct.-Dec.

Jan.-Mar.

2022

Apr.-Jun.

Jul.-Sep.

Daily and Community Life Domain – Monthly Active Users
・ Against the backdrop of the high inflation, etc., content capturing savings-related needs, especiallyon Yomuno, is well received, and active users have increased steadilyMonthly active users*
Tokubai(Millionusers)

Jan.

2020

Mar.

May

Jul.

Sep.

Nov.

Tokubai News

Jan.

2021

Mar.

May

Yomuno

Other

Sep.

Nov.

Jul.

Jan.

Mar.

May

Jul.

Sep.

2022

*Total users for the main media and tools in the daily and community life domain (browser or device base). Based on simple aggregate, without taking into consideration users of multiple media or tools.

Number of Subscriber Stores for Tokubai Services and Average Unit Price・As of the end of September 2022, there were 39,223 subscriber stores (Stores with fixed price contracts
were up 7.6 % YoY to 30,534)
・ Stores with fixed price contracts increased due to the participation of a major electronic appliance retail chain
Subscriber stores
Fixed pricecontract stores

Average unit prices at fixed price contract stores

Pay-for-performance stores+7.6% YoY

30,534 stores(Stores)Dec. Mar. Jun. Sep. Dec. Mar. Jun. Sep. Dec. Mar. Jun. Sep.
2019 2020

2021

2022

(JPY)

Dec. Mar. Jun. Sep. Dec. Mar. Jun. Sep. Dec. Mar. Jun. Sep.
2019 2020

2021

2022

High Cost-effectiveness Confirmed by Beacon-based Store Visit Surveys
・ High cost-effectiveness, approximately 11 times higher than Tokubai usage fees on a gross margin basis,has been confirmed
Store visit survey and cost-effectiveness analysis with beacon
Beacons installed in stores count the number of customers who visit thestores after browsing Tokubai. Based on the gross margins of the chain
stores and other factors, calculated how many times more cost-effective itis than Tokubai usage fees.

Results for all three life-essential retail store types*
Chain

Install beacons in stores to measurestore visits

Costeffectivenesscalculation•

No. ofcustomers
browsing
Tokubai

GPM (￥)

115 times

Chain B

67 times× per customer

Tokubai usage fees (¥)

X

times

Based on the three life-essential retail store survey conducted in September 2022 targeting
1,092 stores, reflecting figures via apps only, not those via websites.
Counted only users who viewed information from store chains subject to the survey.

Supermarket

45 times

Chain D

26 times

Chain E

6 times

Chain F

25 times

Chain G

19 times

Chain H
Tokubaiusage fees

Cost-effectiveness

Chain A
Chain C

BeaconsurveyStore type

Drug store

12 times

Chain I

5 times

Chain J

4 times

Chain K

13 times

Chain L

National
average

Home center

9 times

11 timesVideo Marketing on Tokubai captures stable needs (Example of video posting)Various New Functions Released All Year RoundNew functions for users

Weekly meal planner
Solution to “what to cook today”
and “what to buy today”
Mar. 2022

New functions for clients

Auto-linkage function with
Google Business Profile
Automatic linkage just by posting flier information
on TokubaiAug. 2022

Content marketing support function
for Apps provided by retailers
Renewed coupon function
Distribution to users of coupons fromnear-by stores and stores theyfrequently visit based on GPS data andstores followed by them
Apr. 2022

52-week Feature’s collaboration
with Apps provided by retailers
Sep. 2022

Targeting function of coupon
distribution
Coupon distribution capable of segmenting
recipients
Sep. 2022

Segmentation Coupon Launched as New Service Option
・ It is now possible to carry out effective and efficient coupon-based sales promotion with theadditional function capable of distributing coupons to target potential customers who are
currently users of other store chains

Tokubai“Segmentation Coupon” launched !
Function capable of distributing coupons tosegmented recipients

Fuji Yakuhin
drugstore group

Life Event BusinessHome Domain (Ex. HyAS) Business – Financial Results* –Quarterly Trends
・ As for O-uccino, sales increased QoQ but profit decreased due to increased sales staff to expand sales of tools
・ SSI decreased sales and profit because the condominium brokerage business in Hawaii, its core business, saw customers
refrain from purchasing against the backdrop of the weakening of the yen and the increase in interest rates
・ As for Ouchino Kufu, sales increased but profit decreased QoQ since its purchase and resale service business lowered
prices earlier in response to a market downturn

Net Sales

Operating profit
Ouchino Kufu
SSI
O-uccino

Ouchino Kufu
SSI
O-uccino(JPYMM)

Jul.-Sep. Oct.-Dec. Jan.-Mar. Apr.-Jun. Jul.-Sep. Oct.-Dec. Jan.-Mar. Apr.-Jun. Jul.-Sep.

2020

2021

(JPYMM)2022* Simple aggregate of O-uccino, Inc., SSI Corporation, and Ouchino Kufu Co., Ltd. (includes some intragroup transactions).

EBITDA
Total of 3 companies

Jul.-Sep. Oct.-Dec. Jan.-Mar. Apr.-Jun. Jul.-Sep. Oct.-Dec. Jan.-Mar. Apr.-Jun. Jul.-Sep.

2020

2021

2022

Inventory Status in Purchase and Resale Service Business・ Gross margin in the Jul.- Sep. quarter was 9.8% (13.2% in Apr.-Jun.), and inventory turnover (days)* was 160 days
as of the end of September (173 days as of the end of June)
・ Continued to purchase properties while keeping the inventory target amount of 2 billion yen andwill control purchasing in light of market situation to increase cash reserves
Inventory turnover days

Inventory (amount)

0-100 days
101-180 days
181 days +Rental(JP YMM)

Sep. Dec.
2020

Mar.
2021

Jun. Sep.

Dec. Mar.
2022

Jun. Sep.

(Properties)

Sep. Dec.

Mar.

2020

2021

Jun. Sep.

Dec.

Mar.

Jun. Sep.

2022* Previously the inventory turnover (average inventory turnover period = average period held for properties sold during the period) had been disclosed, but in FY2022.9, the method of calculation
has been changed as follows:
Inventory turnover (days) = Average inventory amount / amount of property sales (ex. amount for rental properties. Amount of property sales were calculated on a pro rata basis for the quarter)HyAS & Co. Inc. Consolidated Financial Results – Quarterly Trends
・ HyAS & Co. Inc. consists two segments: the consulting business and the construction business・ The construction business saw a concentrated deliveries of custom-build houses in the Jul.–Sep. quarter,
which contributed to Q4 earnings

2,330

Net Sales

Operating profit

JPY MM

239

JPY MM(JPYMM)

May-Jul. Aug.-Oct. Nov.-Jan. Feb.-Apr. May-Jul. Aug.-Sep.* Oct.-Dec. Jan.-Mar. Apr.-Jun. Sep.-Sep.

2020

2021

2022

(JPYMM)

May-Jul. Aug.-Oct. Nov.-Jan. Feb.-Apr. May-Jul. Aug.-Sep.* Oct.-Dec. Jan.-Mar. Apr.-Jun. Jul.-Sep.

2020

2021

*Results for Aug. 1, 2021, to Sep. 30, 2021 (two-month period), owing to irregular accounting period caused by change of accounting period.

2022Marriage Domain Business – Financial Results – Quarterly Trends
・ Posted operating loss for Q4 but operating profit for the full year
・ Earnings continued to be flat. The number of venues placing paid ads has been on a recovery trend
after hitting the bottom in July
OperatingprofitNet Sales

EBITDA

Production and dress sales
Media(JPYMM)

Oct.-Dec. Jan.-Mar. Apr.-Jun.Jul.-Sep. Oct.-Dec.Jan.-Mar. Apr.-Jun. Jul.-Sep. Oct.-Dec.Jan.-Mar. Apr.-Jun. Jul.-Sep.

2019

2020

PreCOVID-19
pandemic

2021
COVID-19
pandemic

2022(JPYMM)

Oct.-Dec. Jan.-Mar. Apr.-Jun.Jul.-Sep. Oct.-Dec.Jan.-Mar. Apr.-Jun. Jul.-Sep. Oct.-Dec.Jan.-Mar.Apr.-Jun. Jul.-Sep.

2019

2021

2020

PreCOVID-19
pandemic

COVID-19
pandemic

2022

Marriage Domain Initiatives
・ Under the concept of “any place” and “any plan,” the number of venues ordering wedding production has grownin line with the plan・ In FY2023.9, we will focus on measures to enhance content of actual wedding cases and improve consulting agent
function in order to attract users through proposing new way of wedding and enhancing production capabilities
Expansion of venues “other than”
conventional wedding venues

Enhancement of content of actual wedding cases

Contracted venues*

Post wedding plans across Japan by posting actual wedding cases
Of contracted venues:
・Parks・Public facilities andaesthetic areas
・Shrines and temples, etc.

(Venues)Mar. Jun. Sep. Dec. Mar. Jun.

2020
•

2021

Sep. Dec. Mar. Jun. Sep.

2022

Total of venues with paid ad postings or production contracts (number of unique venues, with venues withmultiple contracts counted as a single venue).

Disclaimer

Kufu Company Inc.

Important notes

This document contains forward-looking statements. These forward-looking statements are based only on the information made available to Kufu Company asof the date this document was prepared. These statements are not guarantees of future results and involve risks and uncertainties. Accordingly, the actual
results may differ materially from those projected herein depending on operating environment and other factors.

Actual results could be affected by, but are not limited to, domestic and international economic conditions and industry trends surrounding Kufu Company.

Kufu Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events orotherwise.

Information that is not related to Kufu Company is derived from publicly available information. Accordingly, Kufu Company does not verify nor guarantee theaccuracy, completeness and correctness of such information.

=Inquiries=
IR Representative, Corporate Communications Department
E-mail: ir@kufu.co.jp

Website: https://kufu.company/en