Cumulative 3Q of the Fiscal Year Ending Jun. 30, 2021 (FY2021)

Results of Operations
Explanatory Material

Apr. 23, 2021
HOPE, INC.
[6195]

Corporate Philosophy

Providing new value to citizens
through local governments,

and promoting growth of the company
and its people

Copyright (C) 2021 HOPE, INC.

02

Company Overview
Company name

HOPE, INC.

EstablishedFeb. 2005 (fiscal year-end: Jun.)

Representative

Takayasu Tokitsu, CEO

Securities code

6195 (listed on the TSE-Mothers/FSE Q-Board on Jun. 15, 2016)

Employees(consolidated)

171 (as of the end of Mar. 2021, including temporary employees)

Business

Services created specifically for local governments

Head office

MG Yakuin Building 1-14-5, Yakuin, Chuo-ku, Fukuoka, Japan

History

Feb. 2005 Founded

May 2020 Started Jichitai Works HAxSH

Jun. 2006 Launched SMART RESOURCE SERVICE

Aug. 2020 Announced the medium-term
management plan [HOPE NEXT 3](Advertising Business, Energy Business, Media Business)

Sep. 2013 Launched SMART CREATION SERVICE“Machilet”
Jul. 2014

Launched “Machiiro,” an app that connects
local governments and local residents

Aug. 2014 Started B-to-G marketing business
Jun. 2016 Listed on TSE-Mothers and FSE Q-Board
Dec. 2017 Issued the first edition of“Jichitai Works”
Mar. 2018 Registered as an electricity retailer
and launched “GENEWAT”

Copyright (C) 2021 HOPE, INC.

Oct. 2020 Established a wholly owned
subsidiary HOPE ENERGY, INC.
Nov. 2020 Developed AI for forecasting market pricesof electricity (Energy Business)
Started supplying Kai, a web conferencing tool
created in Japan
Mar. 2021 Announced participation in the private-sector
trainee program of the city of Shijonawate
in Osaka prefecture

03

Contents

I. Cumulative 3Q FY2021 Financial Highlights
II. Topics
III. FY2021 Outlook
IV. Business Environment and Growth Strategies
V. 2020 VISION
VI. Appendices

Copyright (C) 2021 HOPE, INC.

04

I. Cumulative 3Q FY2021 Financial Highlights

Application of the netting method in the energy business• Unless specified otherwise, all figures in this presentation use the netting method* that is expected to be used due to the application of the Accounting Standard for Revenue Recognition(Accounting Standards Board of Japan Statement No. 29).
• The use of this standard is required beginning with the fiscal year ending in Jun. 2022. However, because the performance of the Energy Business, which is a major component ofconsolidated results of operations, has a significant effect on investment decisions, both net and gross figures are shown in this presentation in order to facilitate easy comparisons withperformance in prior years and to provide a thorough explanation of results of operations.
• The application of the netting method will have no effect on earnings at all levels.
*With the netting method, in accordance with the renewable energy feed-in tariff system in Japan, fees received from customers (sales) and payments to the cost adjustment organization(cost of sales), which are equal to fees received, offset each other, resulting in the recognition of net revenue. Figures that do not use netting are designated in this presentation as using thegross recognition method.

Start of consolidated financial statements• Due to the establishment of HOPE ENERGY, INC., which is a wholly owned subsidiary, HOPE, INC. changed from non-consolidated to consolidated financial statements beginning with thesecond quarter of the fiscal year ending in Jun. 2021. As a result, this presentation has both consolidated and non-consolidated financial information.
• Numbers are rounded down and percentages are rounded up or down to the first decimal place.

Copyright (C) 2021 HOPE, INC.

05

Impact of COVID 19

Response to COVID-19
Started a COVID-19 Response Team

Monitors health of employees and makes preparations for responses to outbreaks.

Established a teleworking infrastructure

Created an environment that facilitates teleworking for a broad range of tasks.

Online activities and no outings for businessAs a rule, the internet is used for all meetings with people outside the company.

Effect on business operations
Advertising/Media BusinessNo significant effect at this time, but some companies may start to reduce their advertising activities. There is also a riskthat financial difficulties at advertisers may delay payments for some receivables or make it impossible to collect somereceivables.

Energy BusinessAlthough the downturn in the demand for electricity associated with temporary closings of schools and otherpublic-sector buildings has stopped, the COVID-19 crisis may continue to have effects on electricity demand and thepurchases of electricity.

Copyright (C) 2021 HOPE, INC.

06

Cumulative 3Q FY2021 Financial Summary (Jul. 2020 – Mar. 2021)

Cumulative 3Q
FY2021 Results(consolidated)

Sales were up 157.3% from one year earlier to an all-time highBig negative impact on operating profit from the sharp increasein the cost of purchasing electricity■Operating profit■Net sales¥18,073 million (up 157.3% YoY) ¥(7,276) million (¥82 million

in cumulative 3Q FY2020)〈Gross recognition method: ¥21,810 million〉

Advertising Business

Energy Business

Sales down and earnings up
due to measures for the proper
size of this business

Performance reflects the big impactof the sharp increase in the costof purchasing electricity

Sales and earnings growth
due to an increasein B-to-G marketing orders■Net sales■Net sales■ Net sales¥1,030 million (down 17.3% YoY)
■Segment profit¥ 82 million (up 36.0% YoY)

¥16,923 million (up 196.0% YoY)

〈Gross recognition method: ¥20,660 million〉■Segment profit¥(7,122)(¥247 million in
million cumulative 3Q FY2020)

Media Business¥117 million (up 118.8% YoY)
■ Segment profit¥13 million 3Q FY2020)(¥(3) million in cumulative*〈 〉is figures using the gross recognition method.

Copyright (C) 2021 HOPE, INC.

07

Cumulative 3Q FY2021 Income Statement Highlights
Cumulative 3Q FY2020(Millions of yen)

Net sales

Results(non-consolidated)

Comp.

7,025
782

SG&A expenses

699

Operating profit

82

Ordinary profit

75

Profit attributable toowners or parent

50

Results(consolidated)Comp.

18,073〈8,082〉Gross profit

Cumulative 3Q FY2021+157.3%〈21,810〉

11.1%(6,547)

10.0%

729

1.2%

(7,276)

1.1%(7,295)0.7%(7,313)〈9.7％〉〈8.7％〉〈1.0％〉〈0.9%〉〈0.6％〉

YoY change〈+169.9%〉(36.2)%〈(30.0)%〉

4.0%〈3.3%〉+4.2%(40.3)%〈(33.4)%〉(40.4)%〈(33.5)%〉(40.5)%〈(33.5)%〉*〈 〉is figures using the gross recognition method.

Copyright (C) 2021 HOPE, INC.

08

Quarterly Sales• Quarterly sales steadily increased, up 126.2% YoY.

Up
126.2%
YoY

7,000

6,052

Others6,000〈7,167〉

5,445Media Business〈6,325〉

Energy Business(Millions of yen)

5,000

32

6,355

〈7,765〉5,666

46〈6,876〉38

80

Advertising Business

4,000

2,551

3,000

2,019

〈2,208〉

2,000

54

420

1,000

0

〈420〉

6
17〈17〉
396

1Q

556

〈560〉

11
39〈44〉

658

〈672〉

1,055

〈1,244〉

1,665

23

15

4,622

〈5,503〉

5,721〈6,837〉

5,267〈6,477〉

5,934〈7,345〉〈1,897〉

14

2,100

1,263

〈2,483〉2,352〈2,793〉〈1,496〉505

30
91〈106〉
535

909

2Q

3Q

4Q

FY2019 (non-consolidated)〈2,934〉

2,808〈3,249〉

386

426

431

1Q

2Q

3Q

FY2020 (non-consolidated)

742

4Q

298

359

1Q

2Q

(non-consolidated) (consolidated)

372

3Q

(consolidated)

FY2021*〈 〉is figures using the gross recognition method.

Copyright (C) 2021 HOPE, INC.

09

Quarterly Operating Profit• Almost all of the third quarter ¥7,535 million operating loss was in Jan.
• Corporate expenses were about the same as in 3Q FY2020.
FY2019 (non-consolidated)
1Q

2Q

Advertising
Business

(43)

(11)

Energy Business(7)

Media Business

1Q

43

295

(4)

13

51

245

(7)

2

105

19

79

149

(5)

(7)

0

23

(2)

2

Others

0

0

0

(4)

(2)

Adjustments

(68)

(74)

(66)

(87)

Total

(124)

(100)

(19)

332

(corporate expenses)

2Q

3Q

FY2021

4Q(Millions of yen)

3Q

FY2020 (non-consolidated)
4Q

1Q (nonconsolidated)

2Q

3Q(consolidated)(consolidated)

(2)

25

59

808

762

(371)

(7,513)

(3)

42

5

7

1

(1)

0

(7)

(9)

(8)

(8)

(66)

(76)

(74)

(151)

(68)

(80)

(75)

(56)

16

122

937

686

(427)

(7,535)*Standards for the allocation of corporate expenses were revised to more accurately show segment earnings. As a result, segment earnings and corporate expenses
have changed beginning with 1Q FY2020. The changes were not applied to FY2019 because the effect is negligible. The new standards have no effect on total earnings.

Copyright (C) 2021 HOPE, INC.

10

Advertising Business

Sales by Segment• Productivity continues to improve because of measures to achieve the proper size of thisbusiness.
1,000
900
800

Others909

SMART CREATION SERVICE

82

SMART RESOURCE SERVICE

742(Millions of yen)

700

94

600
500
400

505
396
33
12

60
52

535

482

38
89

386
73

300
200

17

350

391

407

Down
13.7%
YoY

426
95
37

431

394

42

298

82

66
3

345

295

293

305

1Q

2Q

3Q

100

254

359
82
35

228

240

1Q

2Q

372
40
75

256

0

1Q

2Q

3Q

FY2019 (non-consolidated)

4Q

FY2020 (non-consolidated)

Copyright (C) 2021 HOPE, INC.

4Q

(non-consolidated) (consolidated)

3Q(consolidated)

FY202111

Energy Business

Sales by Segment• The number of contracts submitted for bids is high in the Jan.-Mar. quarterof every fiscal year because local governments in Japan start their fiscal years
in Apr. During this quarter, HOPE, INC. had 426 winning bids.

Up
152.2%
YoY

6,000(Millions of yen)

5,000
4,000

5,721

3,000

4,622

0

〈6,837〉〈6,477〉

1Q

2Q

5,934

〈7,345〉〈5,503〉

2,000
1,000

5,267

17

39

91

〈17〉

〈44〉

〈106〉

1Q

2Q

3Q

2,100

1,263

〈1,244〉〈1,496〉〈2,483〉

4Q

1Q

2Q

1,055

FY2019 (non-consolidated)

2,352〈2,793〉

3Q

4Q(non-consolidated) (consolidated)

FY2020 (non-consolidated)

3Q(consolidated)

FY2021*〈 〉is figures using the gross recognition method.

■ Winning Bids
* As of confirmationof result of bids

1Q (Jul.-Sep.)

2Q (Oct.-Dec.)

3Q (Jan.-Mar.)

4Q (Apr.-Jun.)

Total

FY2019Not disclosed

Not disclosed

Not disclosed

Not disclosed

142

FY2020 *

70

96

337

77

580

FY2021 *

177

201

426

Copyright (C) 2021 HOPE, INC.

804

12

Media Business

Sales by Segment• Orders from companies for online seminars and other services increased because ofactivities to strengthen the Jichitai Works brand.
9080(Millions of yen)70

Up
198.7%
YoY

60
50
40

80

30

54

20
10
0

32

30
6
1Q

14

11

2Q

3Q

FY2019 (non-consolidated)

4Q

1Q

23

2Q

38

46

15

3Q

4Q

1Q

(non-consolidated)

FY2020 (non-consolidated)

2Q(consolidated)

3Q(consolidated)

FY2021*The first issue of Jichitai Works magazine was Dec. 22, 2017 and the magazine’s new design and format started in Jun. 2020.

Copyright (C) 2021 HOPE, INC.

13

3Q FY2021 Balance Sheet Highlights• Studies are under way to determine actions to take concerning negative net assetsof ¥4,514 million at the end of the third quarter.
3Q FY2020(Millions of yen)

Results (nonconsolidated)

3Q FY2021

Comp.

Results（consolidated)

Comp.

Change

526

13.8%

1,018

13.8%

+491

1,497

39.4%

4,599

62.6%

+3,101

438

11.5%

277

3.8%

(160)

Current assets

2,772

72.9%

6,752

91.8%

+3,980Non-current assets

1,029

27.1%

599

8.2%

(430)

3,802

100.0%

7,352

100.0%+3,549Accounts payable-trade

1,412

37.2%

9,729

132.3%+8,316

Short-term borrowings

356

9.4%

950

12.9%

+594

Current portion of long-termborrowings

386

10.2%

386

5.3%

2,383

62.7%

11,212152.5%

Bonds payable

100

2.6%

100

1.4%

Long-term borrowings

741

19.5%

554

7.5%

(186)

Non-current liabilities

841

22.1%

654

8.9%

(186)

Total liabilities

3,225

84.8%

11,866161.4%+8,641

Total net assets

576

15.2%

(4,514)(61.4)%(5,091)3,802

100.0%

7,352

100.0%+3,549Cash and deposits
Accounts receivable-trade
Inventories

Total assets

Current liabilities

Total liabilities and net assets

Due to imbalancefees* of about¥6,500 million(including taxes)+8,828* An imbalance fee is paid when a company selling electricity is unable to supply the required amount of electricity over any 30-minute period and must purchase electricity from a utility
to cover the shortfall. This fee is included in the cost of sales of the Energy Business.

Copyright (C) 2021 HOPE, INC.

14

Financial Highlights• Numerous fund procurement actions are under consideration to increase equity
and financial soundness.
• Imbalance fees of about ¥6,500 million (including taxes) in Jan. 2021
• Actions needed concerning financial risk created by the payment of these fees

Actions1

Stabilize Energy Business earnings• Market price volatility risk

2

Stabilize cash flows• Measures concerning debt covenants

Proposals for new risk management policies to reduce vulnerability

Discussions are under way with financial institutions

the volume of electricity purchased on the the Japan Electricity

requiring the immediate repayment of all debt

to the volatility of market prices of electricity, such as by adjustingPower Exchange (JEPX) and other sources for each area and season• Installment payments of the Jan. 2021 imbalance fee
HOPE, INC. was approved to use the installment payment system*of the Ministry of Economy, Trade and Industry and made the firstof nine monthly payments on Apr. 5, 2021

to prevent the exercise of the acceleration clause,• Procurement of funds
HOPE, INC. is maintaining sound relationships withmain banks and other financial institutions and iscontinuing to consider many other ways to procure
funds*(Reference) Refer to the following for more information.
Responses to the Sudden Increase in the Wholesale Price of Electricity, Jan. 29, 2021 (Ministry of Economy, Trade and Industry)
https://www.meti.go.jp/press/2020/01/20210129002/20210129002.html
Additional Responses to the Sudden Increase in the Wholesale Price of Electricity in January 2021, Mar. 19, 2021 (Ministry of Economy, Trade and Industry)
https://www.meti.go.jp/press/2020/03/20210319010/20210319010.html

Copyright (C) 2021 HOPE, INC.

15

II. Topics

Copyright (C) 2021 HOPE, INC.

16

Topic 1. Start of the Jichitai Works Ambassador Program• The Jichitai Works Ambassador program started on Feb. 1, 2021.
• The first ambassador is Yuto Yoshida, a former mayor of the city of Yokosuka.

The Jichitai Works Ambassador ProgramThis program includes the following activities
1

Public relations activities to raise awareness of Jichitai
Works among local governments

2

Advice concerning plans, services, publication content,
designs and other aspects of Jichitai Works

3

Introduction of people to contact to obtain information
for Jichitai Works content and activities

4

Other advice concerning Jichitai Works

Yuto Yoshida,
CEO of Glocal Government Relationz(former mayor of the city of Yokosuka)

Strengthen the Jichitai Works brand as a magazine
with valuable information and ideas for local governments(Reference) More information is in the Feb. 24, 2021 news release titled “Start of the Jichitai Works Ambassador Program to Strengthen the Jichitai Works Brand – Former Yokosuka Mayor Yuto
Yoshida Named as the First Ambassador” (Japanese version only). https://ssl4.eir-parts.net/doc/6195/tdnet/1937968/00.pdf

Copyright (C) 2021 HOPE, INC.

17

Topic 2. The First Posting of HOPE, INC.’s Employee at a Local Government• On Apr. 1, 2021, an employee of HOPE, INC. started working on a temporary basis
for the city of Shijonawate in Osaka prefecture.
• This is the first time HOPE, INC. has loaned an employee to work at a local government.
■ Expected benefits

Benefits for HOPE, INC.

Shijonawate City

• Further improve services for local governments• Develop new services by identifying local government issues and needs• Strengthen employee training capabilities:
Improve the ability to create proposals from the perspective of local
governments
Improve ability to maintain sound communication with local government
personnel

Benefits for Shijonawate• Gain knowledge and skills from the perspective of a private-sector
company and upgrade services for residents by using a wider rangeof people• A stronger organization by using private-sector company management
and business approaches and incorporating specialized knowledge,
personal and business networks, and other resources

Summary Private-sector company trainee at the cityof Shijonawate
Period: One year (Apr. 1, 2021 to Mar. 31, 2022)
Trainee: One employee of the HOPE, INC.’s
Advertising Business
Planned activities: Assistance with using ICT, improving
business processes and implementing the digitaltransformation by working in the General Affairs Department(Reference) More information is in the Mar. 26, 2021 news release titled “HOPE,INC. Participates in Private-sector Company Trainee Program of the City of Shijonawate in Osaka – One Year Loanof Employee to Shijonawate Will Help Identify Needs for Assistance” (Japanese version only). https://ssl4.eir-parts.net/doc/6195/tdnet/1947620/00.pdf

Copyright (C) 2021 HOPE, INC.

18

III. FY2021 Outlook

Copyright (C) 2021 HOPE, INC.

19
62

FY2021 Forecast Revisions• On Jan. 29, the fiscal year earnings forecast was withdrawn because of the difficulty ofdetermining an outlook due to the sharp increase in the JEPX price of electricity.
• On Apr. 19, a revised forecast was announced that included the effect of the higher cost ofpurchasing electricity.

(Millions of yen)

FY2021
non-consolidated forecast

Net sales

25,300(announced on Aug. 11, 2020)〈29,900〉

FY2021
consolidated forecast

25,320OperatingprofitOrdinary
profitProfit attributableto ownersof parent

1,250 1,750

1,230 1,730

830 1,170(announced on Jan. 29, 2021)〈29,920〉

FY2021
consolidated forecast

28,065(5,914) (5,038)(5,937) (5,061)(5,964) (5,087)

12,470

1,020

1,012

665

(announced on Apr. 19, 2021)(Reference) FY2020 results〈34,084〉〈14,407〉*〈 〉is figures using the gross recognition method.
* There are no differences between the consolidated and non-consolidated forecasts for FY2021.
(Reference) More information is in the Apr. 19, 2021 news release titled “Revisions to Consolidated Forecasts” (Japanese version only). https://ssl4.eir-parts.net/doc/6195/tdnet/1955214/00.pdf

Copyright (C) 2021 HOPE, INC.

20

FY2021 Plan (Income Statement)
FY2019(Millions of yen)

Net sales

FY2020

FY2021(non-consolidated)(non-consolidated)(consolidated)

Plan

YoY change

3,654

12,47028,065+125.1%Results

Results〈3,862〉〈14,407〉

Gross profit

1,039

2,261

SG&A expenses

952

1,240

Operating profit

87

1,020

(5,914) - (5,038)

Ordinary profit

95

1,012

(5,937) - (5,061)

Profit attributableto owners of parent

75

665

(5,964) - (5,087)

Net income per share＊

13.55 yen＊

117.97yen〈34,084〉〈+136.6%〉(969.19) yen - (826.80) yen*〈 〉is figures using the gross recognition method.
* Net income per share is adjusted to reflect the 1-to-4 stock split effective on Jan. 1, 2020.
(Reference) More information is in the Apr. 19, 2021 news release titled “Revisions to Consolidated Forecasts” (Japanese version only).
https://ssl4.eir-parts.net/doc/6195/tdnet/1955214/00.pdf

Copyright (C) 2021 HOPE, INC.

21

Consistent Sales Growth
28,065〈34,084〉

30,00025,000(Millions of yen)

20,00015,00012,470〈14,407〉

10,0003,654〈3,862〉

695

635

FY
20
14

512

331

198

142

87

20
13

5,000

1,142

1,592

1,774

2,269

Non-consolidated2(p 021
la
n)

FY

FY
20
20

20
19
FY

20
18
FY

FY
20
17

FY
20
16

20
15
FY

FY

20
12
FY

20
11
FY

20
10
FY

20
09
FY

FY

20
08

0

Consolidated* FY2014 was an irregular nine-month period because of a change in fiscal year-end. *〈 〉is figures using the gross recognition method.

Copyright (C) 2021 HOPE, INC.

22

FY2021 Business Segment Sales Plan

30

Approx. ¥28.0 billion

Media Business〈34.0〉

Energy BusinessApprox. ¥0.21 billion

Advertising Business
25(Billions of yen)

20

15

Approx. ¥12.47 billion〈14.4〉

Approx. ¥26.14 billion〈32.16〉

Approx. ¥0.13 billion
10

Approx. ¥10.34 billion〈12.27〉

5

Approx. ¥1.98 billion

Approx. ¥1.70 billion

FY2020 (non-consolidated)

FY2021 (consolidated)0* 〈 〉is figures using the gross recognition method.

Copyright (C) 2021 HOPE, INC.

23

IV. Business Environment and
Growth Strategies

Copyright (C) 2021 HOPE, INC.

24

Advertising Business

Market Summary• HOPE, INC. created a new market with its Advertising Business, the company’s originalactivity, and has provided advertising services to local governments for about 16 years.
• HOPE, INC.’s share of this market is about 12.8%.
The advertising market in Japan

Approx. ¥5.3 trillion *1
The local govt. advertising market

Approx. ¥14.0 billion *2
Approx. ¥1.8 billion *3

Target market
About 12.8%of the target market*1 Source: Survey of Selected Service Industries (Jan. 2021), Ministry of Economy, Trade and Industry*2 Estimate of target market size assuming that all local governments used advertising services*3 FY2020 advertising business sales (excluding contract production of public info publications)

Copyright (C) 2021 HOPE, INC.

25

Advertising Business

FY2021 Policy• Continuing to achieve the proper size of this business to make advertising a profit-generating
business.
• Gross profit per medium is decreasing, but the goal is to use SG&A expenses more efficiently.
Approx.
¥0.55 million

2,500(Millions of yen)

2,000

●

Approx.
¥0.43 million

Approx.
¥0.51 million

●

●

0.6

●
Approx.
¥0.53 million

0.4

●

1,500

Approx.
¥0.37 million
1,000

0.5

●

0.3

Approx.
¥0.3 million(Millions of yen)

■ Gross profit
per medium

0.2

500

0.1

Net sales*
Gross profit per medium

00FY2016FY2017FY2018Non-consolidated

FY2019FY2020

FY2021
Consolidated*Advertising Business sales (excluding contract production of public information publications)

Copyright (C) 2021 HOPE, INC.

26

Energy Business

Market Summary

Leverage current businesswith local governments

Submit bids for new contracts by taking advantage ofexisting vendor registrations with the local
governments and other measures

Japan’s electricity market

Approx. ¥15 trillion *1
Electricity sales to local govts.

Approx. ¥1 trillion *2

Target market
HOPE, INC. serves approx.

Approx. ¥52.1billion *3 5.2% of the target market*1 Source: Electricity and Gas Market Surveillance Commission*2 The target market as defined by HOPE, INC.
*3 Expected total sales of energy supplied for contracts received in FY2021(Includes one-year of multi-year contracts and excludes fuel adjustments and renewable energy fees)

Copyright (C) 2021 HOPE, INC.

27

Energy Business

FY2021 Policy• In FY2020, the number of energy contracts open for bidding was much higher than expected.
• In FY2021, we expect only a small increase in the number of energy contracts open for bidding.
■ Number of bids submitted (only contracts where HOPE, INC. was eligible)
FY2020 plan/actual (contracts)
Plan

FY2021 plan (contracts)

ActualApprox. 3,000

580

Approx.
1,000

Approx. 3,500

Approx. 3,000

Approx. 2,500
Approx. 2,400

Approx. 3,800

Total : Approx. 4,500
Successful bids
Bids submitted
Did not submit bids

Total : Approx. 6,000

Copyright (C) 2021 HOPE, INC.

Total : Approx. 6,300(estimate)28

Media Business

Market Summary• Substantial public-sector demand and still considerable growth potential
The market for promotions targeting local governments

still has much more potential, including public-private sector
matching and measures to become more competitive
Market for promotions
targeting local govts.

15.2 billion

Local govt.

Approx. ¥Public-sector demand(except national govt., construction)

Companies

Approx. ¥ 8.68 trillion * 1
Approx. ¥1.52 trillion * 2

Approx.

¥0.13 billion*3

1%

Potential market

Portion for companies operating nationwide
Assumes about 1% is used for promotional activities(market for promotions targeting local governments.)

Approx. ¥ 15.2 billion*1 Calculated by HOPE, INC. using Summary of Guide to Contracts in the Public Sector – FY2018, The Smalland Medium Enterprise Agency*2 HOPE, INC. estimates based on FY2018 Administrative Project Review, Ministry of Internal Affairs andCommunications*3 FY2020 Media Business sales

Copyright (C) 2021 HOPE, INC.

29

Media Business

Goals for FY2021

Position this business at the very top of upstream information
flows to serve as a link for public-private sector collaboration andfor ties between local governments

Monitor/collect info
Local govt.

Contribute tomarket growth

Monitor･ Social issues

Need for ways
to contact local
governments･ Need for the useof private sector
partners

Companies

Provide many types of services• Broad range of activities using the Jichitai Works brand• More matching by using the internet, telemarketing and other methods

Copyright (C) 2021 HOPE, INC.

30

Media BusinessBusiness Strategy

The preeminent upstream sourceof local government information

Business strengthening, support and creation
made possible by the local government database

Local govt.

Information
Jichitai Works

Jichitai Works

Companies

Sales

Information

Jichitai Works Web

Machiiro

Sales

B-to-G Marketing

Open data

Partnerships
with regional banks

Partnerships
with local govts.

Collect and store data
Establish and enlarge local govt. databases
Individuals

Organizations• Budgets• Issues, needs• Information about local govt.
and national govt. employees

Copyright (C) 2021 HOPE, INC.

31

Media BusinessBusiness Strategy• The government employee platform concept :Enlarge business operations to cover the government employee sector in order to become theleader in businesses and services for local governments.
• The government employee sector will be a growing market for the media business.

Current core competence(local govt. relations)・・・

Local govt.

Govt. employees

Local govt.

Govt. employees

Local govt.

Govt. employees

The govt. employee platform concept・・・Market sectors
covered by the
media businessCore competence enlargement
Copyright (C) 2021 HOPE, INC.

32

Reexamination of the HOPE NEXT 3 Medium-term Management Plan
• We plan to create a new HOPE NEXT 3.
■ Assumption• The original HOPE NEXT 3 (announced on Aug. 11, 2020) was based on the assumption that the energy
business will be a very significant component of HOPE, INC.’s business portfolio.

■ Reason and stance for a new plan
• Although the Dec. 2020 surge in the JEPX price of electricity was a highly unusual event, we must revise
our plans to incorporate the possibility of a reoccurrence of this type of event.
• We will reinforce Energy Business risk management and build business and governance frameworks withthe goal of consistent profitability of the Energy Business.

■ Other items• There is no change at this time in the 2020 VISION goals for FY2030: sales of ¥100 billion, operating
profit of ¥10 billion, and a business portfolio with at least 10 services.
• There are no revisions to the expected business environment changes or business policies regarding theAdvertising Business and the media business.
(Reference) More information is in “Medium-term Management Plan HOPE NEXT 3” announced on Aug. 11, 2020.
https://ssl4.eir-parts.net/doc/6195/tdnet/1873672/00.pdf

Copyright (C) 2021 HOPE, INC.

33

FY2021 Investor Relations Activities• Plan to continue increasing the number of meetings with institutional investors by using
online meetings and expanding English-language disclosure activities.
■ Number of institutional investor meetings
200
180

187 meetings
in the first nine months

160

187

140

Goal:

(Meetings)

120

120meetings

100
80
60

82

40
20
0

15

FY20179FY20186FY2019FY2020

FY2021*Includes online meetings and telephone calls

Copyright (C) 2021 HOPE, INC.

34

V. 2020 VISION

Copyright (C) 2021 HOPE, INC.

35

Expansion of Core Competence• Enlarge local government relations, HOPE, INC.’s core competence, to encompass the entire
government employee sector.

Current core competence(local govt. relations)・・・

Local govt.

Local govt.

Local govt.

Govt. employees

Govt. employees

Govt. employees・・・The govt. employee platform concept

Core competence enlargement
Copyright (C) 2021 HOPE, INC.

36

Expansion of Core Competence

Business domain
expansion

Govt. employees

Local govt.

Use the enlargement of the corecompetence for the diversificationof business activities in a domain
expanded to include thegovernment employee sector

Business domain
expansion

Become the leader in businesses
and services for local governments
Copyright (C) 2021 HOPE, INC.

37

Positioning of Business Units• Enlarge every business domain and increase actions for the expansion of HOPE, INC.’s corecompetence.
Measures for providing value
Additional
local govt. revenue

Enlargement of targeted domains

Local
govt.

Public-private sector
collaboration

Ads in public info
publications, banner ads, etc

Jichitai Works

Local govt. DX…

Machiiro

MachiletB-to-G
Marketing
Jichitai Works

Govt.
employees

Jichitai Works Web

The govt. employee platform concept

Copyright (C) 2021 HOPE, INC.

38

2020 VISIONF Y2030
Net sales
Operating profit
Services¥

100 billion¥ 10 billion
10 services

Copyright (C) 20202021 HOPE, INC.

39

2020 VISION Initiatives• Start and implement initiatives for accomplishing the FY2030 goals of the 2020 VISION:
Sales of ¥100 billion, operating profit of ¥10 billion and a business portfolio with at least
10 services.

Advertising Energy

100

New
business¥¥28.0
billionNew
businessbillionNew
business

ActionsMedia

New
businessNewbusiness

FY2021

FY20303 services

More than 10 services

Copyright (C) 2021 HOPE, INC.

• Improve profitability ofexisting businesses• Develop new businesses• Use all existing businesses
as a base for new businesses• M&A• Financial and investment
strategies

40VI. Appendices

Copyright (C) 2021 HOPE, INC.

41

Business Segments and Services

Advertising Business
SMARE RESOURCE SERVICESMART CREATION SERVICE

Ads in public info publications,banner ads, etc.

Energy Business

Machilet

Media Business
Jichitai Works

Jichitai Works Web

B-to-G Marketing
Jichitai Works

Machiiro*Beginning with FY2020, Machiiro has been moved from the media segment to others.

Copyright (C) 2021 HOPE, INC.

42

Advertising BusinessCorporate Philosophy

Local govt.
assetsProviding new value to citizens
through local governments

Utilization•Public info publications,
local government websites

Additional
local govt. revenue•Use of media space•Information distributed to residents■ Value provided
Local gov t.

•Free joint publications by local
governments and HOPE, INC.

A sourceof revenue

Copyright (C) 2021 HOPE, INC.

Opportunities
for PR

Companies

43

A new source of revenue for local governments
Local governments sell ad spacein their publications■ Business model

Payment
for ad space

Payment
for ad space

日︵水︶︑グランドハイ回定時株主総会らの言葉で株主の皆さんに語らが執り行われました︒

上 地 さ ん 司 会 の も と︑社 長 のがらもしっかりと話してくれ

座 右 の 銘 を︑緊 張 の 面 持 ち な

1年目の皆さんが自己紹介と今回の議題である取締役5名

報告の後︑サービスの現況を伝える事業

山 監 査 役 か ら の 監 査 報 告︑各挨 拶 で 始 ま っ た 株 主 総 会︒松挨 拶 で 始 ま っ た 株 主 総 会︒松

︵社内取締役4名•社外取締役

回定時株主総会

ア ッ ト 福 岡 に お い て︑株 式 会

山 監 査 役 か ら の 監 査 報 告︑各ました︒

で︑ホ ー プ の﹁今﹂を 株 主 のわ れ︑賛 成 多 数 で 可 決 さ れ ま
した︒
ま た︑株 主 総 会 と し て の 必 要事項である各報告や議決の後報告の後︑サービスの現況を伝える事業

山 監 査 役 か ら の 監 査 報 告︑各挨 拶 で 始 ま っ た 株 主 総 会︒松

O•部 長 陣 の 紹 介︒そ れ ぞ れCT

ま ず は︑各 部 署 の 長 で あ るた︒

ためのパートも用意されまし

プへの理解を深めていただくには︑第二部として︑よりホー

ま た︑株 主 総 会 と し て の 必 要

今回の議題である取締役5名

上 地 さ ん 司 会 の も と︑社 長 の皆さんへ率直に伝える場とな

1 名︶の 選 任 継 続 の 採 決 が 行

社長と森さんが台本なしのアりました︒

ドリブで答えていくという形

1 名︶の 選 任 継 続 の 採 決 が 行報告の後︑わ れ︑賛 成 多 数 で 可 決 さ れ ま

事項である各報告や議決の後1 名︶の 選 任 継 続 の 採 決 が 行︵社 内 取 締 役 4 名•社 外 取 締 役

した︒

X

X

X

X

られました︒

自らの言葉で株主の皆さんに語の 部 署 の 今 期 目 標 が︑ト ッ プ

プへの理解を深めていただく

わ れ︑賛 成 多 数 で 可 決 さ れ ま

ためのパートも用意されました︒

O•部 長 陣 の 紹 介︒そ れ ぞ れCT

ま ず は︑各 部 署 の 長 で あ るには︑第二部として︑よりホーした︒︵社内取締役4名•社外取締役

今回の議題である取締役5名

サービスの現況を伝える事業

新 卒 の 挨 拶 で は︑

上 地 さ ん 司 会 の も と︑社 長 の

社ホープ第ア ッ ト 福 岡 に お い て︑株 式 会

9月

各サービスの現況を伝える事業報告の後、れました︒の部署の今期目標が︑トップ自た株主総会。松山監査役からの監査報告、

社ホープ第

日︵水︶
︑グランドハイ

27

続いての

27

が執り行われました︒

9月

今回の議題である取締役 5 名（社内取締役
4 名•社外取締役 1 名

株式会社◯◯◯

広報17

4 名•社外取締役 1 名

今回の議題である取締役 5 名（社内取締役

新 卒 の 挨 拶 で は︑た株主総会。松山監査役からの監査報告、事項である各報告や議決の後

ま た︑株 主 総 会 と し て の 必 要

した︒

わ れ︑賛 成 多 数 で 可 決 さ れ ま

1 名︶の 選 任 継 続 の 採 決 が 行︵社 内 取 締 役 4 名•社 外 取 締 役

今回の議題である取締役5名

報告の後︑サービスの現況を伝える事業

山 監 査 役 か ら の 監 査 報 告︑各挨 拶 で 始 ま っ た 株 主 総 会︒松上 地 さ ん 司 会 の も と︑社 長 の率直に伝える場となりました︒

プ の﹁今﹂を 株 主 の 皆 さ ん へ

答 え て い く と い う 形 で︑ホ ーさんが台本なしのアドリブでの テ ー マ に つ い て︑社 長 と 森

変化や現在の課題等いくつか

ん に よ る 対 談︒前 期 と 今 期 のそ し て 最 後 に は︑社 長 と 森 さ

した︒

続いての

上地さん司会のもと、社長の挨拶で始まった︒

ためのパートも用意されまし

プへの理解を深めていただくには︑第二部として︑よりホー

44
Copyright (C) 2021 HOPE, INC.

24

17

上地さん司会のもと、社長の挨拶で始まっ

24☎000-000-0000

2017

Ad

Others■■■■■■■■■■■■■■■■■■

××××××Ad

11■ Ad in a public info publication■ Examples of media

Companies

Saleof ad space
Local gov t.

Purchaseof ad space

各サービスの現況を伝える事業報告の後、Payslips forgovernment employees
WebsitebannerPublic info
publications

SMART RESOURCE SERVICE
Advertising Business 1

Advertising Business 2

SMART CREATION SERVICE (Machilet)

Production and supply of local government
pamphlets for various fields with space for ads

Local gov t.

Free joint production of pamphlets
with even more useful info

Agreement

Saleof ad space

Companies■ Business model
Production
and supplyof pamphlets■ Examples of pamphlets■ Ad in a pamphlet (child care information)
Content(child careinformation)

Child care

Empty houses

Payment
for ad space

Senior care

Advertisement(monetize space)

My ending
OthersCopyright (C) 2021 HOPE, INC.

45

Advertising BusinessContracts with Local Governments
and Number of Publications Issued

SMART RESOURCE SERVICESMART CREATION SERVICE (Machilet)(Contracts)(Publications)

500

1,000

462

458

839
800

400

309

280

300

694

685

Plan
573

600

222
200

400

100

200

344

157

(Issued in 3Q)

0

um

ul

at

iv
FY e 3
20 Q
21

20
20
FY

20
19
FY

20
18
FY

20
17
FY

C

C

um

ul

at

i
FY ve
20 3Q
21

20
20
FY

20
19
FY

20
18
FY

FY

20
17

0

*For two or more different contracts with the same local government, each contract is counted separately.
*The Smart Creation service includes conventional pamphlets (Machilet) as well as Clear File and other special publications issued in each fiscal year. A revised definition is used fornumber of publications between FY2017 and FY2021 and these figures have been revised accordingly.

Copyright (C) 2021 HOPE, INC.

46

Advertising Business

Main Business Characteristics

SMART RESOURCE SERVICESMART CREATION SERVICE (Machilet)

1 Bids used to purchase products

1 Most production and sales at the sametime of the year

•Big swings in bids (cost of purchases)•Risk of inability to purchase a sufficient volume due to

The production and sales period starts after signing contracts

bids of other companies, etc.

2 Seasonal nature of purchases andinventory risk

with local governments

2 Large pct. of sales in the fourth quarter
About 80% of publications are issued between Apr. and Jun.

▶ Most sales and cost of sales are recorded in the fourth quarter•Most SMART RESOURCE purchases are single

transactions for an entire year (Apr. to Mar.), resulting
in risk for holding large inventories

300
250

(Pamphlets)

3 Effect on the next fiscal year
•Most purchases using bids submitted during thepeak season for government contract bids will havean effect on the next fiscal year all the way to Mar.

Publications issued in FY2020

Production and sales period

200
150
100
50
0

6月
Jul. Aug. Sep. Oct.
2019

Copyright (C) 2021 HOPE, INC.

Nov. Dec. Jan. Feb.

Mar. Apr. May. Jun.
2020

47

Energy BusinessCorporate Philosophy

Local govt.
electricity use

Providing new value to citizens
through local governments

New electricity
service

Lower cost ofelectricity■ Value provided
Local gov t.

Cost reduction

Copyright (C) 2021 HOPE, INC.

48

Energy BusinessStart of the electricity
sales business

GENEWAT uses the new perception of “electricity as a
generic product” for supplying electricity at a lower price inorder to help local governments reduce costs.

Electricity• Sale of electricity*Business does not include

generation and distribution

Local govt.

■ Business model
Payments■ GENEWAT users(mainly local governments)

Hospitals• HOPE, INC. posts sales/cost of sales
based on monthly utilization

SewageplantsCopyright (C) 2021 HOPE, INC.

Schools

City halls

•••

49

Energy Business

1

Main Business Characteristics

Contracts are received by submitting bids
• Business may be lost to competing bids of other companies when new bidding takes
place every year

2

Vulnerability to the economy and weather• Electricity sales may vary depending on the health of the economy, unseasonable
summer or winter weather, and other weather events• Wholesale prices of electricity may vary depending on the cost of buying electricity, thecost of fuel, and the balance between the supply and demand of electricity

3

A low-cost business• When determining bids, the Energy Business utilizes bidding expertise acquired overmany years in the Advertising Business

Copyright (C) 2021 HOPE, INC.

50

Media BusinessCorporate Philosophy

Local govt.

Providing new value to citizens
through local governments

Use the private sector
to solve issues

Opportunity
to collaborate
with public sector

Companies

Public-private sector collaboration
Copyright (C) 2021 HOPE, INC.

51

Media Business 1

A Government Magazine
with New Info and Ideas

Jichitai Works• Use of advertisements to monetize publications

A HOPE, INC. publication
with useful info and ideas

Local gov t.

Collect
information

Interaction
with local govt.

Provideinformation

Payment
for ad space

Companies

for the jobs of local
government employees■ Issued four times every year

■ Issued as needed■ Jichitai Works Web

1 One of the largest circulations in Japan

Each special edition has asingle advertiser and allcontent involves the advertiser’s products and services

Articles in the printed edition of Jichitai
Works magazine are also posted on theinternet.

A comprehensive info magazine for local
government employees; circulation of up to 70,000,
one of the largest in Japan in this category(Special editions)

2 Extensive coverage

Distributed at no charge to 1,788 municipalities
and all 47 prefectural governments

3 Upgrading sharing of knowledge
Magazines include examples of innovative ideas, avariety of know-how and other content for improving
government services throughout Japan

Copyright (C) 2021 HOPE, INC.

52

Media Business 2

B-to-G Marketing• Use local government relationships for surveys to identify needs and for holding seminars.
• Sales agent services for receiving sales promotion and other promotion fees from companies.
Support for companies
with products andLocal gov t.

Data collection

Reports, other info

Seminars, sales agent,
research, other services

Requests for assistanceCompanies

services for local
governments■ Contracted service orders received in the third quarter (Jan.-Mar.)• Seminars for local government employees and other services(orders from nine companies)• Distribution of marketing materials(orders from 14 companies)• Direct mail marketing(orders from six companies)

Use database
to attract customers• Telemarketing(orders from three companies)

Identify needs• Distribution of e-magazines(orders from four companies)

Copyright (C) 2021 HOPE, INC.

Others53

Media Business 3

Jichitai Works HAxSH

Jichitai Works• A joint assistance platform for local governments and companies

Jichitai Works

Register their own
services

Service searches andexaminations

Sharing of informationof person who
downloaded their
documents

Download
documents about
services of interest

Payment of fees

Register contact
and other
information

Collaboration with local
governments creates newopportunities

Solve problems byusing private-sector
services

Companies
providingservices

Copyright (C) 2021 HOPE, INC.

Local govt.
personnel

54Media Business 4

An App Linking
Local Governments and Residents

Machiiro• The app provides the latest info from registered local governments by giving users accessto public info publications of local governments nationwide.
• Distribution of content for local governments and regions

Local govt.

UploadAgreement

Residents

Distribution of
governments
information
using an app*Machiiro screen sample

674,661

cumulative downloads

931 cumulative

local government contracts

Local governments
share of about

52 .1％*As of the end of Mar. 2021

Copyright (C) 2021 HOPE, INC.

55

Media Business(Issue)12

Jichitai Works Magazine Issues

OthersSpecial editions
Topic-specific editions

11

issued( of which)
in 3Q : 2

11

issued( of which)
in 3Q : 1

Standard editions

2

10• Tourism/Foreign Tourist Edition

8

4• Tourism/Foreign Tourist Edition Vol. 2• Disaster Readiness/Crisis Management Edition Vol. 2• Disaster Readiness/Crisis• Education and ICT Edition

Management Edition• Tourism/Foreign Tourist Edition Vol. 3• Home Town Taxes Edition

5

6• Disaster Readiness/Crisis Management Edition Vol. 3

33

issued( of which)
in 3Q : 1

4

2

4

4

1

• Special edition forgovernment employees

20

FY2019FY2020

Copyright (C) 2021 HOPE, INC.

Cumulative 3Q FY2021

56

Additional Local Government Revenue

Since HOPE, INC.’s inception, the Advertising Business has
generated revenue of about ¥8.44 billion for clients•SMART RESOURCE SERVICE has paid local governments
about ¥ 7.66 billion•Machilet has reduced local government costs byabout ¥ 0.78 billion(From HOPE, INC.’s inception through 3Q FY2021)

32.0

Cost reduction of about ¥billionsince the start of the Energy Business(Estimated cost reduction during the entire length of all current contracts)

Copyright (C) 2021 HOPE, INC.

57

Main Shareholders■ Number of shares and shareholders
Total number of authorized shares

18,848,000 shares

Number of shares issued

6,302,800 shares

Number of shareholders(with voting rights)

6,007■ Shareholder distribution by category
Overseas entities 3.2%

Other Japanese entities

1.3%

Financial
institutions/securities
companies

Company
executives*

6.1%

43.6%
Individuals,
others45.9%■ Top 10 shareholders
No.

Name of shareholders(As of Mar. 31, 2021)
Number ofshares held

1

E.T. Co., Ltd.

1,340,000 shares

2

Takayasu Tokitsu

1,253,000 shares

3

Custody Bank of Japan, Ltd.
(Trust Account)

246,800 shares

4

Masaki Kuge

240,000 shares

5

Shimpei Mori

119,000 shares

6

Individual shareholder

93,000 shares

7

Individual shareholder

90,100 shares

8

Individual shareholder

65,100 shares

9

Individual shareholder

58,200 shares

10

Individual shareholder

40,500 shares* Includes their private asset managers

Copyright (C) 2021 HOPE, INC.

58

Stock Information
Period Jun. 15, 2016 to Mar. 31, 2021
IPO price¥350

Initial price¥805 (Jun. 15, 2016)

ROE

FY2015FY2016FY2017FY2018FY2019FY2020

23.7%

23.9%

3.2%

(25.4)%

15.7%

75.4%

FY2016FY2017FY2018FY2019FY202027.9x116.3x

32.3x

30.5x

Highest price since IPO* 7,910 (Nov. 11, 2020)

PER*

Lowest price since IPO* ¥220 (Dec. 25, 2018)* Including stock prices during trading hours.
* Stock prices are adjusted to reflect a 1-to-4 stock split.

* Calculated based on the stock price on the settlement date.

■ Stock price (Jul. 1, 2018 to Dec. 31, 2020)

Mar. 26
Announcement of participationin the private-sector
Nov. 5trainee program
Announcement of AI for forecasting market prices of electricityof the city of Shijonawate

(yen)
8,000

May 26
Announcement of Jichitai Works HAxSH

7,000
6,000
5,000
4,000
3,000
2,000

Aug. 9Earnings announcement
Sep. 3
Changed names ofbusiness segments and services

May 21
Announcement of purchaseof treasury sharesDec. 10
May 17
Announcement ofAnnouncement of
1-to-4 stock split
the 3rd shareholder
benefits
Aug. 8
Earnings announcement
May 27
Sep. 26
Announcement
Renewal ofof upward
corporate logo
earnings
forecast

1,000

FY2019Jun. 29
Renewal of
Jichitai Works

May 13
Announcement of upwardearnings forecast

Feb. 6
Commemorative
dividend

0Feb. 17
HOPE, INC.’s stock
approved for
margin trading

Jul. 27
Announcementof upward
earnings forecast
Aug. 11
Earnings and medium-term
management plan announcement

FY2020Jun.30,2019Nov. 16
Start of the Kai
web conferencing
serviceSep. 14
Announcementof establishmentof a subsidiary

Dec. 23
A private-public
sector allianceagreement with thecity of Ogori(Fukuoka prefecture)

FY2021
Jun.30,2020

Copyright (C) 2021 HOPE, INC.

59

HOPE, INC. Major Media Exposure
Date

Summary

Date

Summary

Jun. 7, 2016

Investment Information – New IPO Stocks,
Nihon Keizai Shimbun

Aug. 7, 2017

Information about HOPE, INC. in Japan Digest,
Nihon Keizai Shimbun

Sep. 1, 2016

Included in an article in the October issueof Project Design magazine

Jan. 18, 2018

Information about HOPE, INC’s electricity sales businessin the economy section of the Yomiuri Shimbun

Sep. 25, 2016

Information about HOPE, INC. on the TBS TV
program Gacchiri Monday!

Feb. 15, 2018

Information about the Machiiro app forchecking how much money is coming,
Nonstop TV program of Fuji TelevisionNov. 7, 2016

Interview with the HOPE, INC. president inMichishirube, Nihon Keizai Shimbun

Apr. 23, 2018

Information about HOPE, INC. on the TV Asahi
Bakumon Fund! Money Success Graph

Jan. 10, 2017

Interview with the HOPE, INC. president in
Dash Venture, Nihon Sangyo Shimbun

May 21, 2018

HOPE, INC. president featured in a daily column on
business executives in the Nihon Keizai Shimbun

Jan. 16, 2017

Interview with the HOPE, INC. president inFuji Sankei Business i.

Oct. 31, 2018

Information about a HOPE, INC.’s Halloween event on
NHK TV programs Rokuichi! Fukuoka, NHK News 7,
News Watch 9, and News 11

Feb. 23, 2017

Interview with the HOPE, INC. president in
God of Happiness Diary, Kabushiki Shimbun

Dec. 1, 2019

Information about HOPE, INC. in an article
about innovative companies in Nikkei Veritas

Mar. 24, 2017

Included in The First Companies 2017,an article about newly listed companies

Dec. 31, 2019

Included in an article about companies
with the biggest market cap increases of 2019,
Nihon Keizai Shimbun

May 12, 2017

Included in Gatchiri Monday! The Secret of
Making Money on 40 Little Known Companies

Jan. 31, 2020

Information about the condolence guidebookof HOPE, INC’s Machilet, Chunichi Shimbun

Aug. 3, 2017

Interview with the HOPE, INC. president in CEOs Explain
Management Strategies, Nikkei Sangyo Shimbun

Sep. 4, 2020

Interview with the HOPE, INC. president on the Nikkei
CNBC program Hiru Express

Copyright (C) 2021 HOPE, INC.

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Disclaimer
Information in this presentation includes forward-looking statements that are based on thecurrent outlook, forecasts and assumptions vulnerable to risk factors. As a result, thisinformation incorporates uncertainties that may cause actual performance to differ from thesestatements.

Risk factors and uncertainties include economic trends in Japan and other countries, such aschanges in industries and markets, interest rates, and foreign exchange rates.

HOPE, INC. has no obligation to update or revise for ward-looking statements in thispresentation even in the event of new information or events.

- IR contact HOPE, INC.

E-Mail: ir@zaigenkakuho.com
URL: https://www.zaigenkakuho.com/en/ir

Copyright (C) 2021 HOPE, INC.

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