July 7, 2021
To whom it may concern:
Company nameSansan, Inc.

Representative

Chikahiro Terada,
Representative Director & CEO(Code: 4443 TSE 1st Section)

Contact

Muneyuki Hashimoto,Director, Executive Officer, CFO

Tel+81-3-6758-0033

Notification Regarding Booking of Non-operating Expenses,
and Revision of Consolidated Full-year Earnings Forecasts
Sansan, Inc. (the “Company”) announces today that it will book the following non-operating expenses in
the financial results for the fiscal year ended May 31, 2021 (“FY2020”). The Company also announces thefollowing revisions to its consolidated earnings forecasts for FY2020 from the previous forecasts
announced on July 14, 2020, reflecting the recent business performance.
1. Booking of Non-operating Expenses
Currently, our equity-method affiliates include CREATIVE SURVEY Inc., which handles online survey tools,SATORI Inc., which develops and sells marketing automation tools, etc. Since many of these affiliatedcompanies are currently at the stage of aggressive investment for business growth and had posted a deficit,
the Company expects to record a cumulative equity-method investment loss of ¥285 million (¥232 million
recorded up to an including the third quarter) for the full year.
2. Revised Consolidated Full-year Earnings Forecasts for FY2020

Previous forecasts (a)Revised forecasts (b)Variance (b-a)% change(For reference)
Results for FY2019

Net sales

OperatingprofitOrdinary
ProfitProfitattributableto owners ofparent

Basicearnings pershare

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Yen

15,767

757

toto―

―

―

16,302

1,010

16,184

736

375

―

―

417

-21

toto―

―

―

-118-274

2.6-2.8

toto―

―

―

-0.7-27.1

13,362

757

435

339

10.98

1

3. Reason for the Revision
In addition to the uncertain business environment that is expected to continue due to the impact of novel
coronavirus (COVID-19) infections, in FY2020 consolidated net sales and consolidated operating profit
were disclosed in a range, as we had planned to implement a variety of investments in an agile and flexible
manner to accelerate the medium- to long-term sales growth rate. With regard to consolidated ordinary
profit and profit attributable to owners of parent, we did not disclose specific forecast figures because of
the difficulties in reasonably estimating some non-operating income. As mentioned in (1.) above, we havebeen able to carefully examine some of the forecast figures for non-operating income. Therefore, basedon the latest performance trends and other factors, we revised the consolidated net sales and operating
profit announced at the beginning of the fiscal year and have announced the consolidated ordinary profit,
which then had yet to be decided. Since the amount of deferred tax assets recorded is being carefully
examined at this time, the forecast numerical value for profit attributable to owners of parent will remain
undisclosed. Although the Company is expecting to record a surplus in profit attributable to owners ofparent.
Despite certain restrictions and the negative impact from the COVID-19 pandemic, consolidated net sales
are expected to exceed the median range announced at the beginning of the fiscal year due to the steadyacquisition of new subscriptions in the Sansan Business. The number of “Sansan” subscriptions as of theend of May 2021 is expected to be 7,744 (up 14.7% year on year). Under the abovementioned policy
announced at the beginning of the term, by which we aim to achieve medium- to long-term sales growth,in light of the steady performance up to and including the third quarter we expected consolidated operating
profit to be slightly below the lower limit of the range announced at the beginning of the term. This is as aresult of, for example, promoting the strengthening of company-wide hiring and reinforcing advertising
activities in the rapidly growing "Bill One" online invoice receiving solution.
As a result of the above, consolidated net sales are expected to total ¥16,184 million (¥417 million increaseto ¥118 million decrease from the previous forecast) and consolidated operating profit is expected to total¥736 million (¥21 million decrease to ¥274 million decrease from the previous forecast). Furthermore,
consolidated ordinary profit is expected to total ¥375 million.
* Forward-looking statements, including the consolidated forecasts stated in these materials, are based on
information currently available to the Company and certain assumptions deemed reasonable. Results may
differ materially from the consolidated forecasts due to various factors.

2