FY2022.9 Q3 Presentation Material
Kufu Company Inc.

August 12, 2022
1

Agenda1. Consolidated Financial Results for FY2022.9 Q3
2. Business Overview by Segment• Daily Life Business• Life Event Business21. Consolidated Financial Results for
FY2022.9 Q3

3

Group Composition (Main Group Companies)
Daily Life BusinessLife Event Business

Daily life
domainHomedomainShopping information service andlifestyle information media

Regional
information domain

Home and real estate
specialized media

Management consulting service

Wedding information
media and service

Educational
app

Household budget
service

MarriagedomainPurchase and resale service

Insurance domain
Regional information media

Consulting service forhigh-net-worth individuals

Insurance sales
agencyDevelopment and salesof insurance products

その他
Investment and entrepreneur
support domain

Design domain
Technology domain

Development and researchBusiness management
domain

くふうキャピタル

Support for holding companies Investment management
and operating companies

Affiliates
Informational website fortrips with children

4Highlights
Group as a whole
In Q3 (Apr. to Jun. 2022), EBITDA came to 488 million yen, +97.0% YoY (+26.2% excluding the consolidation of
HyAS & Co. Inc.), and progress toward full-year earnings forecasts was also steady.

Daily Life Business(Daily life domain)

The Business performed well against plans.
The Tokubai business made steady progress in developing new business formats, and trial subscriptions increased.

Life Event Business(Home domain)

HyAS & Co. Inc. performed steadily against plans. The designation of its stock as a Security on Alert was lifted as of July28, 2022. The other three companies posted higher sales and profits YoY, due in part to contributions from the purchaseand resale service business.

(Marriage domain)

Although both media and producing businesses remained sluggish, orders for wedding production increased.
Despite a loss for the quarter under review, the Company will continue to invest in human resources and development,
and is expected to be profitable for the full year.

5Consolidated Financial Results
 Progress toward full-year earnings forecasts was good

* 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.
and Locoguide Inc. for each period (unaudited).

6

Consolidated Financial Results – Quarter Despite lower sales and profits QoQ, progress toward full-year earnings forecasts was good
 Achieved significant YoY sales and profit growth* 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 KIDS STAR 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.
In accordance with the change in accounting period of HyAS & Co. Inc, five months of profit (loss) from HyAS & Co. Inc. was recorded for May to Sep. 2021 in the fourth quarter of FY2021.9.

7

Consolidated Financial Results – Quarterly Trends
 Despite lower sales and profits QoQ, progress toward full-year earnings forecasts was good
 Achieved significant YoY sales and profit growth(JPY MM)Net sales(JPY MM)

7,000

OP

EBITDA

1,000

6,000

800

784

5,000
600

4,000
3,000

6,166

2,000
1,000
0

400
4,528

4,599

358

4,175

1,340

0

Q1
FY2021.9*

Q2

Q3

226

261

156

1,695

Q4

Q1
FY2022.9

Q2

Q3

488

438

200
2,053

658

626

403
369

247

233

143

Q1
FY2021.9*

Q2

Q3

Q4

Q1
FY2022.9

Q2

Q3* 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 KIDS STAR 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.
In accordance with the change in accounting period of HyAS & Co. Inc, five months of profit (loss) from HyAS & Co. Inc. was recorded for May to Sep. 2021 in the fourth quarter of FY2021.9.

8

Consolidated Financial Results – Quarterly Trends (Ex. HyAS) Excluding the impact of the consolidation of HyAS & Co. Inc., also achieved YoY sales and profit growth,
despite decreasing QoQ(JPY MM)(JPY MM)Net sales

3,000

400

2,000

300

1,500
1,000

0

EBITDA

500

2,500

500

OP

2,053
1,340

Q1
FY2021.9*

Q2

2,407

2,565

2,576

2,275

1,695

Q3

200
100

Q4

Q1
FY2022.9

0

Q2

Q3

358

156

226

Q1
FY2021.9*

445

425
347

261

247

309

329

233

194

143

Q2

Q3

Q4

312

Q1
FY2022.9

Q2

Q3* 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 KIDS STAR Inc. was consolidated from the second quarter of FY2021.9, and profit (loss) from SHIZUOKAONLINE CO., LTD. was consolidated from the fourth quarter of FY2021.9.

9

Consolidated Financial Results – Net Sales by Segment (Quarter)
 Sales of the Daily Life Business declined QoQ due primarily to seasonality in businesses with local governments
and SHIZUOKAONLINE CO., LTD.'s lower sales
 Sales of the Life Event Business decreased QoQ due mainly to a reactionary decline in spot projects in the homedomain recorded in the previous quarter
FY2021.9*1(JPY MM)

Q1

Q2

FY2022.9

Q3

Q4

Q1

Q2

Q3

YoY

QoQ

Daily Life Busisness*2

614

713

769

960

1,101

1,101

1,056

137.3%

95.9%

Life Event Business*3

694

933

908

5,190

3,426

3,489

3,114

342.8%

89.3%

Other

61

450

50

43

36

39

30

61.0%

78.1%

Adjustments

-30

-44

-31

-27

-35

-30

-26

-

-

Net sales*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).
*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, five months of profit (loss) from HyAS & Co. Inc. was recorded for May to Sep. 2021 in the fourth quarter of FY2021.9.

10

Consolidated Financial Results – OP and EBITDA (Quarter) The Daily Life Business recorded seasonal expenses for SHIZUOKAONLINE CO., LTD and development andhiring expenses for the Tokubai business Profits for the Life Event Business decreased QoQ due to the aforementioned reactionary decline in sales in thehome domain, etc.
FY2021.9*1(JPY MM)
OperatingprofitEBITDA

Q1

Q2

FY2022.9

Q3

Q4

Q1

Q2

Q3

YoY

QoQ

Daily Life Busisness*2

176

185

207

220

365

351

278

134.0%

79.3%

Life Event Business*3

83

112

91

410

243

280

198

217.3%

70.8%

Other

-16

62

-22

-29

-31

-27

-34

-

-

Adjustments

-86

-100

-133

-161

-207

-202

-210

-

-

Daily Life Busisness*2

185

206

234

257

397

383

310

132.4%

81.2%

Life Event Business*3

97

126

105

587

328

365

281

266.2%

77.2%

Other

-16

62

-22

-29

-31

-26

-34

-

-

Adjustments

-40

-37

-70

-30

-67

-62

-70

-

-

*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).
*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, five months of profit (loss) from HyAS & Co. Inc. was recorded for May to Sep. 2021 in the fourth quarter of FY2021.9.

11

Consolidated Financial Results – B/S* Items in parentheses are included in totals.

12Group Business Foundations (as of End-June. 2022)
Users

Support users’ actions through three contact points with users

Media

SaaS
Indirectly provide services to users

Maximize contact points with users

through support for business
operators

Monthly active users

Approx.
42 million*1

*1:
*2:
*3:
*4:

Contracted accounts

Approx.
62,400*2

Tool/Agent
Provide useful tools for daily life andspecialized services for life events

Total tool downloads

Approx. 24 million*3
Services provided annually
Approx. 3,800*4

Total users as of end-June 2022 for the main media and tools in the daily life domain, regional information domain, home domain, and marriage domain (browser or device base). Based on simple aggregate, without taking into consideration users of multiple
media or tools.
Total as of end-June 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.
Total cumulative downloads as of end-June 2022 for “Tokubai,” “Zaim,” and “Gokko Land.”13
Total of estimate of annual wedding ceremonies produced by anymarry Co., Ltd. as of June 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 exceeded 40 million on a simple aggregate baseMonthly active users*(Million users)

45.00

35.00

25.00

15.00

Mar.
2019

Jun.

Sep.

Dec.

Mar.
2020

Jun.

Sep.

Dec.

Mar.
2021

Jun.

Sep.

Dec.

Mar.

Jun.

2022

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

14Group-wide Contract Accounts
 Net decrease in Tokubai’s subscriber stores due to a decrease in the number of pay-for-performance stores,
with an increase in the number of stores with fixed price contracts on our sales focus
 Tokubai increased trials in new domains, including restaurants, and increased the number of non-subscriber
storesNumberof contract accounts
契約アカウント数
64,00062,00060,000+3,741+168

62,449Tokubainonsubscriber
storesOthersJun. 2022

59,13658,000-596

56,00054,00052,00050,000Mar.
3月 Jun.
6月
2019

2019年

Jun.
Sep.
Dec. Mar.
9月
12月
3月
6月
2020
2020年

Jun.
Sep.
Dec. Mar.
9月
12月
3月
6月
2021
2021年

Jun.
Sep.
Dec. Mar.
9月
12月
3月
6月
2022
2022年

Mar. 2022

Tokubaisubscriber
stores* Total 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 with anymarry Co., Ltd.

15

2. Business Overview by
Segment

16

Daily Life Business

17

Daily Life Business – Financial Results – Quarterly Trends
 While the Tokubai business remained steady, both sales and profits declined QoQ owing primarily to seasonality in businesses
with local governments and SHIZUOKAONLINE’s lower sales. However, progress toward full-year earnings forecasts was steadyNet sales(JPY MM)
1,200

Locoguide

Kufu Lifestyle

KIDS STAR

1,101

1,101

960

1,000
800
600

Zaim

(JPY MM)614

713

SHIZUOKAONLINE

1,056

769

200

(Two companies
integrated on April 1,
2022)

Oct.-Dec. Jan.-Mar. Apr.-Jun. Jul.-Sep. Oct.-Dec. Jan.-Mar. Apr.-Jun.
2021

500

397

383

300

Locoguide+
Kufu Lifestyle

2020

EBITDA

400

400

0

OP

2022

310

200

206

185

100
0

257

234

176

185

207

Oct.-Dec.

Jan.-Mar.

Apr.-Jun.

2020

2021

365
220

Jul.-Sep.

Oct.-Dec.

351

Jan.-Mar.

278

Apr.-Jun.

2022

18

Daily Life Domain – Monthly Active Users
 Against the backdrop of the current high inflation, the number of users of content capturing savings-related needs,
centered on Yomuno, increased
Monthly active users*(Million users)

50

Tokubai

45

Tokubai News

Yomuno

Other

40
35
30
25
20
15
10
5
-

Jan. Mar. May

Jul.

2020

Sep. Nov. Jan. Mar. May

Jul.

2021

Sep. Nov. Jan. Mar. May
2022* Total users for the main media and tools in the daily life domain (browser or device base). Based on simple aggregate, without taking into consideration users of multiple media or tools.

19Number of Subscriber Stores for Tokubai Services and Average Unit Price As of end-June 2022, there were 38,328 subscriber stores (The number of stores with fixed price contracts were up 4.3% YoY to 29,643)

・The number of stores with fixed price contracts increased mainly among drugstores and supermarkets, with a steady increase in average unit prices(Stores)
40,000

Subscriber stores
Fixed price contract stores(Yen)

Pay-for-performance stores

Average unit prices at fixed price contract stores

4,800

4,600

30,0004,400
20,000

4,200
10,000

-

4,000

Dec.

Mar.

2019

2020

Jun.

Sep.

Dec.

Mar.
2021

Jun.

Sep.

Dec.

Mar.
2022

Jun.

3,800

Dec.

Mar.

2019

2020

Jun.

Sep.

Dec.

Mar.
2021

Jun.

Sep.

Dec.

Mar.

Jun.

2022

20

High Cost-effectiveness Confirmed by Beacon-based Store Visit Surveys
 High cost-effectiveness, approximately 14 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 measure the number of customers
who visit the stores after browsing Tokubai. Based on the grossmargins of the chain stores and other factors, calculated how
many times more cost-effective it is than Tokubai usage fees.

Results for all three life-essential retail store types

Chain

Chain C
Install beacons in stores tomeasure store visits

Costeffectivenesscalculation

No. of customers
browsing Tokubai(people)✕GPM (￥)
per customer

Tokubai usage fees (￥)

X

times

Tokubai usage fees

Costeffectiveness77 times

Chain A
Chain B

beaconsurveyTypeSupermarket

193 times
9 times

Chain D

40 times

Chain E

21 times

Chain F

5 times

Chain G

Drugstore

10 times

Chain H
Chain I
Overall average

17 times

Home center

18 times

14 times

Survey of three life-essential retail store types in June 2022 n=1,130 stores21

Example of Store Visit Survey with Beacon (Chain X)
 Continuous use of Tokubai, especially at the timing of coupon postings, has led to a significant increase in the number of store visits
 Cost-effectiveness (see previous page) has also improved, with gross profit contribution rising to 16.7 times the usage fees (June 2022)
 The average monthly gross profit contribution exceeds 50,000,000 yen, and while paper flyers are being reduced, use of Tokubai
services has become the main means of sales promotion

Beacon survey Number of store visits by day (October 2021 - May 2022)
Posting coupon
on Tokubai22Video Marketing on Tokubai is Brisk (Example of video posting results)

23

Marketing Example Combining Tokubai and Yomuno
Video production using Yomuno MateStore pages on Tokubai

Yomuno tie-up advertisement

Create a video based on Yomuno Mate’s insights

Deploy the video on store pages

Deploy the detailed articles in the media

24

Launched a New Service Option, a Function to Link Tokubai to Google Business Profile
Link flyers posted on Tokubai to Google Business Profile

Store pages on Tokubai

Linking creates new exposures on Google without operational burden

Acquire new users through links

Post flyers on Tokubai

The latest flyer is automaticallydisplayed on the store’s page on
GoogleGoogle business profile
Googleビジネスプロフィール

Tokubai
トクバイ

Linking possible within existing operations, with zero additional work

Jump to Tokubai byclicking “Details”

25Tokubai Offers Unique Promotional Opportunities, Increasing Sales with Positive Customer Feedback The 1st National Supermarket “General Election for Delicious Food” was held, with participation from all 67 supermarkets in Japan (123
products in total)

Outline of the “General Election for Delicious Food”

Contributed to customers increasing sales▼Gold award in Sweets category
Product: Yamanaka “Tokaido”

Number of companies entered: All 67 supermarkets in Japan that deal in food products (123 products in total)

Voting period: Wednesday, June 1, 2022 - Tuesday, June 21, 2022
Voting method: Internet voting by “Tokubai” users and other general consumers▼Voting page

▼Entry product details page▼Results announcement page

Yamanaka

As for Tokaido, the numbersof its sales are up YoY.
In the first two days after theTV broadcast, the sales ratiois 185%.

Sales YoY
Award winning Before During
After
products
thetheawardselection election

Tokaido

116%

127%

131%

Mini
okonomiyaki

110%

114%

108%

(As for the number of entry products sold,) It’s
by far the highest number.
We believe that this is entirely due to thecontest and the press releases tovarious media.

Since the announcement,
the number of units sold per
customer has increased.

Watahan & Co., Ltd.

PowerMeat Co., Ltd.

26

Life Event Business27

Home Domain (ex. HyAS) – Financial Results* – Quarterly Trends
 Sales and profits of O-uccino increased QoQ due to sales growth of tools
 Sales and profits of SSI decreased QoQ due to a reactionary decline in sales related to a resort development project in Hawaii that had been recorded in the previous quarter Sales and profits of Ouchino Kufu’s purchase and resale business increased due to higher gross margin despite slight QoQ decline in number of properties sold

(JPY MM)
O-uccino

1,200

Net sales
SSI(JPY MM)

Ouchino Kufu

EBITDA

200

1,000

OP

O-uccino

SSI

Ouchino Kufu

Total of three companies

150

800

100

600
50

400

0

200
0

Apr.-Jun. Jul.-Sep. Oct.-Dec. Jan.-Mar. Apr.-Jun. Jul.-Sep. Oct.-Dec. Jan.-Mar. Apr.-Jun.
2020

2021

2022

-50

Apr.-Jun. Jul.-Sep.
2020* Simple aggregate of O-uccino, Inc., SSI Corporation, and Ouchino Kufu Co., Ltd. (includes some intragroup transactions).

Oct.-Dec. Jan.-Mar.
2021

Apr.-Jun.

Jul.-Sep.

Oct.-Dec. Jan.-Mar.

Apr.-Jun.

2022

28

Status of Inventory in Purchase and Resale Business Gross margin in the Apr.-Jun. quarter was 13.2% (10.7% in Jan.-Mar.), and inventory turnover (days)* was 173 days as of end-June (141 days as of end-Mar.) Continued to purchase properties while keeping the inventory target amount of 2 billion yen, with more completed renovations expected to sell in July-September

Inventories(JPY MM)(Properties)

2,000

80

1,500

Rental181 days+

60

1,000

28
32

40

500

0

Days in inventory distribution

22

20

End-Sep. End-Dec. End-Mar. End-Jun. End-Sep. End-Dec. End-Mar. End-Jun.
2020

2021

2022

0

6 1

1
10

9
1
16

15

101-180 days

15
12

10

15

20

19

22

0-100 days

28

10

10

7

8

21

20

25
9
11
21

End-Sep. End-Dec. End-Mar. End-Jun. End-Sep. End-Dec. End-Mar. End-Jun.
2020

2021

2022

* From FY2022.9, the method of calculation has been changed from previous disclosure (average inventory turnover period = average period held for properties sold during the period) as follows.
Inventory turnover (days) = Average inventory amount / Amount of property sales (ex. amount for rental properties. Amount of property sales calculated on a pro rata basis for the quarter)29

HyAS & Co. Inc. – Consolidated Financial Results – Quarterly Trends
 Sales and profits of seasonal spot products declined QoQ, but remained steady against the full-year forecast
 Designation of Securities on Alert was lifted as of July 28, 2022
(JPY MM)(JPY MM)Net sales

2,500

Operating profit

200

2,000

150

1,500

1,000

1,987

2,175

1,978

2,192

100

2,367
1,962

2,023

155

1,900

1,391

50

500

146

127

128

141
106

91
59
33

0

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

2020

2021

2022

0

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

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

30

Home Domain Initiatives
 Developed “Kurasu Match Automatic Customer Tracking" with CRM
functions added to the sales support tool service "O-uccino Kurasu Match”•

Automatically generate the most optimal follow-up tasks foreach individual user and centrally manage them on thedashboard▼Screen image of “Kurasu Match Automatic Customer Tracking”

Mismatch exists where users take several months or more to consider buying or selling
real estate, whereas follow-up on the vendor side usually takes 1-2 weeks•

Continuously and automatically disseminates market prices and properties for sale in theneighborhood using data obtained from the property listing business to support users’considerations

 As well as aiming to introduce the system to more than 500 stores over the
next four years, use it to promote direct transactions at group companies•

Started operations at Ouchino Kufu Co., Ltd., with a view to direct purchasing in thepurchase and resale business O-uccino, Inc. and Ouchino Kufu Co., Ltd. are scheduled to be integrated by
the end of 2022•

Realize “direct transactions” between sellers and buyers through data coordination•

Promote brand integration to expand recognition of their services
31

Marriage Domain – Financial Results – Quarterly Trends
 Although both media and producing businesses remained sluggish, orders for wedding production increased Despite a loss for the quarter under review, the Company will continue to invest in human resources and development, and is
expected to be profitable for the full year
(JPY MM)Net sales

OP(JPY MM）

EBITDA

250

1,250

200

1,000

150

750

100
500

50

250

0

0

Oct.-Dec. Jan.-Mar. Apr.-Jun. Jul.-Sep. Oct.-Dec. Jan.-Mar. Apr.-Jun. Jul.-Sep. Oct.-Dec. Jan.-Mar. Apr.-Jun.
2019

2020

Pre-Covid-19
pandemic

2021

Covid-19
pandemic

2022

-50

Oct.-Dec. Jan.-Mar. Apr.-Jun. Jul.-Sep. Oct.-Dec.Jan.-Mar. Apr.-Jun. Jul.-Sep. Oct.-Dec.Jan.-Mar. Apr.-Jun.
2019

2020

Pre-Covid-19
pandemic

2021

2022

Covid-19
pandemic
32

Marriage Domain Initiatives
 Enhance new wedding plans through media and production by diversifying venues and plans
based on the concepts of “Any place” and “Any plan”
Expansion of venues “other than” so-called wedding venues(Venues)

Contracted venues*

Enhancement of new wedding plans
Wedding photo at the Meoto(Husband and Wife) Waterfall

1,800

Memorial photo of marriage registration
at the place where they met (university)

Wedding photoin a magical bamboo forest

Concert with friends at the wedding

Casual family wedding at Omaehama Park

1,600
1,400
1,200
Of contracted venues:
・Parks・Public facilities and beautiful
areas・Shrines and temples, etc.

1,000
800
600
400
200
-

Mar.
2020

Jun.

Sep.

Dec.

Mar.
2021

Jun.

Sep.

Dec.

Mar.

Jun.

2022

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

33

Disclaimer

Important notes
This document contains forward-looking statements. These forward-looking statements are based only on theinformation made available to Kufu Company as of 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 andindustry 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 or otherwise.
Information that is not related to Kufu Company is derived from publicly available information. Accordingly, Kufu
Company does not verify nor guarantee the accuracy, completeness and correctness of such information.

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

Website: https://kufu.co.jp/en/34