Summary of Consolidated Financial Results for the First Quarterof the Fiscal Year Ending March 31, 2025
(Three Months Ended June 30, 2024)[Japanese GAAP]
July 31, 2024

Listing: Tokyo Stock Exchange, Prime Market
Company name: QUICK CO., LTD.
Stock code:
4318
URL: https://919.jp/
Representative: Tsutomu Wano, Chairman
Contact:
Kenta Kijima, Director and Executive Officer,
General Manager of Administration and Accounting Division
Tel: +81-6-6366-0919
Scheduled date of payment of dividend:–
Preparation of supplementary materials for financial results:
None
Holding of financial results meeting:None(All amounts are rounded down to the nearest million yen.)

1. Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2025
(April 1, 2024–June 30, 2024)(1) Consolidated results of operations(Percentages represent year-on-year changes.)
Net sales
Millions of yen

Operating profit% Millions of yen

Profit attributable toowners of parent

Ordinary profit% Millions of yen% Millions of yen

9,569
6.5
3,013
0.3
3,035
0.1
Three months ended Jun. 30, 2024
8,983
5.1
3,005
(9.5)
3,033
(9.2)
Three months ended Jun. 30, 2023
Note: Comprehensive income (millions of yen) Three months ended Jun. 30, 2024: 2,540 (up 9.8%)
Three months ended Jun. 30, 2023: 2,313 (up 13.7%)
Net income per share Diluted net income per share
Three months ended Jun. 30, 2024
Three months ended Jun. 30, 2023

Yen

Yen

112.31112.56

–
–

2,101
2,105

%

(0.2)
(9.0)

(2) Consolidated financial position
Shareholders’ equity
ratio

Total assets

Net assets

Millions of yen

Millions of yen

Net assets per share%

As of Jun. 30, 2024
23,715
17,875
As of Mar. 31, 2024
22,042
16,420
Reference: Shareholders’ equity (millions of yen)
As of Jun. 30, 2024: 17,872

Yen

75.4
74.5
As of Mar. 31, 2024: 16,416

955.37877.57

2. Dividends
1Q-end2Q-endYen

Fiscal year ended Mar. 31, 2024–
Fiscal year ending Mar. 31, 2025–
Fiscal year ending Mar. 31, 2025 (forecast)
Note: Revisions to the most recently announced dividend forecast: None

Dividend per share
3Q-endYear-end

Total

Yen

Yen

Yen

Yen

36.00

–

58.00

94.00

47.00

–

47.00

94.00

3. Consolidated Earnings Forecast for the Fiscal Year Ending March 31, 2025 (April 1, 2024–March 31, 2025)
Net sales
Millions of yen

Operating profit%

Millions of yen(Percentages represent year-on-year changes.)
Profit attributable to
Net income
Ordinary profit
owners of parent
per share% Millions of yen% Millions of yen

16,637
5.3
3,258 (19.2)
3,280 (19.5)
First half
Full year
31,670
7.4
4,490
(9.6)
4,523 (10.1)
Note: Revisions to the most recently announced consolidated earnings forecast: None

2,262
3,040

%

Yen

(19.5)(13.3)

120.93162.55

* Notes(1) Significant changes in the scope of consolidation during the period: None
(2) Application of special accounting methods for presenting quarterly consolidated financial statements: None
(3) Changes in accounting policies and accounting estimates, and restatements
1) Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
2) Changes in accounting policies other than 1) above: None
3) Changes in accounting estimates: None
4) Restatements: None

(4) Number of shares issued (common shares)
1) Total number of issued shares at the end of the period (including treasury shares)
As of Jun. 30, 2024:

19,098,576 shares

As of Mar. 31, 2024:

19,098,576 shares

As of Mar. 31, 2024:

391,412 shares

2) Number of treasury shares at the end of the period
As of Jun. 30, 2024:

391,412 shares

3) Average number of shares outstanding during the period
Three months ended Jun. 30, 2024: 18,707,164 shares

Three months ended Jun. 30, 2023: 18,707,221 shares* Review of the Japanese-language originals of the attached quarterly consolidated financial statements by certified public
accountants or an audit firm: None
* Proper use of earnings forecasts and other special items
Forecasts and forward-looking statements in these materials are based on assumptions judged to be valid and information
available to the Company’s management at the time the materials were prepared. These materials are not promises by theCompany regarding future performance. Actual results may differ significantly from these forecasts for a number of reasons. For
discussion of the assumptions and other factors considered by the Company in preparing the above projections, please refer topage 4 of the Attachments “1. Overview of Results of Operations, Etc., (3) Explanation of Consolidated Earnings Forecast andOther Forward-looking Statements.”

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/25

Contents of Attachments

1. Overview of Results of Operations, Etc. ................................................................................................... 2(1) Explanation of Results of Operations ...................................................................................................... 2(2) Explanation of Financial Position ............................................................................................................ 4(3) Explanation of Consolidated Earnings Forecast and Other Forward-looking Statements ......................... 4
2. Quarterly Consolidated Financial Statements and Notes ........................................................................... 5(1) Quarterly Consolidated Balance Sheet .................................................................................................... 5(2) Quarterly Consolidated Statements of Income and Comprehensive Income ............................................ 7
Quarterly Consolidated Statement of Income(For the Three-month Period) ............................................................................................................... 7
Quarterly Consolidated Statement of Comprehensive Income(For the Three-month Period) ............................................................................................................... 8(3) Notes to Quarterly Consolidated Financial Statements ............................................................................ 9
Segment Information ............................................................................................................................... 9

1

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/25

1. Overview of Results of Operations, Etc.
(1) Explanation of Results of Operations
During the first three months of the fiscal year ending March 31, 2025 (the “period under review”), the Japanese
economy showed a moderate recovery trend amid the normalization of social activities as well as further
improvement in employment and earnings environment, along with growing inbound demand. On the other hand,the economic outlook remained uncertain, mainly due to rising geopolitical risks including the prolonged Ukraine
crisis, price increase on the back of higher resource and raw material costs , and the historic weakening trend of theyen.
Japan’s labor market also continued to reflect the shortage of labor in the corporate sector, with the seasonallyadjusted job openings-to-applicants ratio being 1.24 and the seasonally adjusted unemployment rate 2.6% in May
2024.
Under such business environment, the Group worked on differentiating the QUICK Group from competitors andincreasing customer satisfaction by helping our client companies solve their HR related problems by developing
new markets, strengthening coordination between the group companies, and expanding business areas throughM&As as well as further expanding the existing businesses. The Group also continued strengthening its businessbase by investing in human resources, including active recruiting activities.
As a result, for the period under review, we posted net sales of 9,569 million yen (up 6.5% year -on-year), operating
profit of 3,013 million yen (up 0.3% year-on-year), ordinary profit of 3,035 million yen (up 0.1% year-on-year),and profit attributable to owners of parent of 2,101 million yen (down 0.2% year-on-year).
Note that, effective from the period under review, the name of the reportable segment that was previously referred
to as the Information Publishing Business has been changed to the Local Information Service Business to moreaccurately represent the nature of the business. This change is merely a change in segment name and has no impact
on segment information.
Performance of the business segments is described as follows.
Note that net sales for each segment represents sales to external customers, while operating profit represents theamount before elimination for inter-segment transactions.
(Human Resources Services Business)
1) Personnel Placement
In the personnel placement category, recruiting needs for various jobs continued to be robust in our focus fields ofconstruction, pharmaceutical, electronic/machinery, automobile, and IT industries, as well as for nurses andchildcare workers. Under such circumstances, we made continued efforts, including developing new client bases,
holding more meetings with our client companies and registrants who wish to change careers, and providing swift
and extensive support. We also aggressively invested in a full-scale development of the contingent fee-based
recruitment business in new focus job fields and the nursing domain. Furthermore, we launched a job search portal“Kango-roo Shukatsu” for nursing students, utilizing the business assets of the Career-tasu’s nursing businessacquired in May 2024. In addition, we started web commercials as part of strengthening promotional activities tofurther penetrate the Kango-roo brand and to attract more registrants. As a result of such efforts, the personnel
placement posted an increase in revenue.
2) Temporary Staffing, Temporary-to-Permanent Staffing, and Business Contracting
In the temporary staffing, temporary-to-permanent staffing, and business contracting categories, needs for COVID19 related temporary staffing of nurses ended. While returning to the normal market, the temporary staffing ofnurses posted an increase in revenue thanks to our efforts to strengthen sales to nursing care facilities, hospitals,
and other facilities, to find registrants who wish to work as temporary staff, and to hold more meetings. In addition,
the performance of the temporary staffing of childcare workers also expanded thanks to our efforts for strengthening
to attract more registrants amid continued demand for temporary staffing needs.
Overall, sales of the Human Resources Services Business increased 4.5% year-on-year to 7,165 million yen, but
operating profit decreased 2.8% year-on-year to 2,836 million yen due mainly to aggressive investment in thenursing domain.

2

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/25(Recruiting Business)
In the Recruiting Business, the volume of aggregation-type recruiting services (search engine type recruiting media
collecting specific information from multiple websites) including our mainstay Indeed as well as Indeed PLUS, a
recruiting delivery platform service through Indeed, expanded steadily amid strong recruiting needs in a wide range
of industries and job fields. In addition, the handling of media for recruiting new college graduates performed solidly
thanks to the increased corporate appetite to recruit new college gradua tes on the back of labor shortages. On theother hand, revenue from the handling of our existing mainstay pay -per-placement media for recruiting full-time
employees targeting mid-career recruiting and media for part-time and temporary staff decreased, due to promoting
proposals for a switch to aggregation-type recruiting services and Indeed PLUS, in response to declined advertising
effectiveness of stand-alone use.
For services other than the handling of recruiting advertisement, the consulting service field such as program
development for internships and company information sessions for new graduate recruiting as well as employee
trainings grew steadily, as a result of our efforts to strengthen coordination with partner companies. However,revenue in the production field such as recruitment websites, company guides, and others decreased.
Overall, sales of the Recruiting Business decreased 0.1% year-on-year to 748 million yen, and operating profit
increased 83.4% year-on-year to 137 million yen due mainly to our efforts for efficient business operation.
(Local Information Service Business)
In the Local Information Service Business, as for the lifestyle information magazine category, the handling ofadvertisement placements for sales promotion targeting restaurants, shops, and other businesses grew steadily
entering the first busy spring period after the reclassification of COVID-19 to Category 5. On the other hand, thelifestyle information magazine category as a whole posted a decrease in revenue, resulting from a shrink in theneeds for placing housing advertisements mainly due to soaring material costs and artisan shortage as well as anincrease of clients who transfer to web media for recruiting advertisements. Under such circumstances, Indeed andIndeed PLUS which we strengthen our sales efforts during the current fiscal year grew steadily thanks mainly toclients’ shift from lifestyle information magazines.
The performance of posting services, which distribute flyers and other materials to each household, remainedroughly flat, as the handling of flyers in the Toyama and Takaoka areas declined while that in the Niigata area
performed well.
Furthermore, the consulting services, in which we operate under the “coco color.” brand, showed weak performancein our mainstay career change domain mainly due to reduced hiring plans by major client companies. As a result,revenue of “coco color.” also decreased as a whole.
Overall, sales of the Local Information Service Business decreased 3.1% year-on-year to 623 million yen, andoperating profit decreased 19.8% year-on-year to 91 million yen.
(HR Platform Business)
In the HR Platform Business, the market for “Nihon no Jinjibu” (Japan’s Human Resources Department) related
service continued to enjoy robust interest and needs for services related to resolving issues in the HR domain,
recruiting, and HR development, as well as training events and seminars to deepen knowledge of personnel andlabor. Against this backdrop, advertising revenues from the “Nihon no Jinjibu” website showed a slight decrease,
due to the continuing trend of curbing advertising placements by some HR tech companies after the reclassificationof COVID-19 to Category 5. On the other hand, an online HR event, “Nihon no Jinjibu HR Conference 2024 —Spring—” held in May 2024 continued to perform well, with sales renewing record. Furthermore, “CHRO trainin gschool” launched during the current fiscal year got off to a good start with more applications than expected.
Overall, sales of the HR Platform Business increased 4.7% year-on-year to 396 million yen, and operating profit
increased 11.0% year-on-year to 225 million yen.
(Overseas Business)
In the U.S., while recruiting needs of companies continued to be strong especially in the manufacturing industry,
we worked to cultivate new clients and strengthen relations with existent clients. As a result, revenue increased inboth the personnel placement and temporary staffing businesses mainly due to steady performance in all of our3

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/25

offices in the U.S., including Orange County and Atlanta, where the Company opened an office in 2023. In Mexico,
amidst a robust economy, we saw steady performance in the staffing services of interpreters and translators, withmany companies still considering the transfer of their factories to Mexico in response to the U.S. –China issues. In
addition, we have worked to bolster our efforts to recruit and hold more meetings with Spanish -speaking humanresources in response to high recruiting needs for local human resources in job fields such as sales and quality
control.
Europe remained a favorable job market. In the U.K., revenue increased in both the personnel placement andtemporary staffing businesses, as the number of job openings, registrations, interviews, and contracts increased asa result of strengthening recruitment and training of consultants, cultivating new clients, implementing measures toacquire registrants, and improving client management systems to enhance matching accuracy. Furthermore, in the
Netherlands, our efforts including participation into business events which we have been working on since theprevious period and new client development through steady sales activities have also started to bear fruit.
In China, the performance of the personnel and labor consulting business declined due to less progress in the
renewals of consultation advisory services and new orders for training services, as a result of stalled new entry ofJapanese companies in addition to client companies’ increasingly cutting costs against the backdrop of deteriorating
business conditions. In addition, while corporate recruiting needs have also been sluggish, revenue from thepersonnel placement category increased thanks to successful sales activities to existent clients. On the other hand,in Vietnam, corporate recruiting needs showed a moderate improving trend due to the economic recovery. However,revenue decreased because of cases where start dates of the introduced personnel for p lacement delayed to after thesecond quarter due to longer processing time from visa application to approval. In Thailand, recruiting needs insightseeing and restaurant industries recovered to the level before COVID -19. However, while recruitment needs
also continued to be mainly to fill vacancies in many industries, we worked to bolster our efforts to respond to
recruiting needs to those who are difficult to recruit, resulting in an increase in revenue.
Overall, sales of the Overseas Business increased 78.0% year-on-year to 635 million yen and operating profit also
increased 119.8% year-on-year to 103 million yen.
(2) Explanation of Financial Position
Total assets at the end of the period under review increased 1,672 million yen year -on-year from the end of theprevious fiscal year to 23,715 million yen. This was mainly the result of increases in cash and deposits , andinvestment securities.
Total liabilities increased 217 million yen from the end of the previous fiscal year to 5,839 million yen. This was
mainly the result of increases in income taxes payable, accrued consumption taxes, and deferred tax liabilities
despite a decrease in provision for bonuses.
Total net assets increased 1,454 million yen from the end of the previous fiscal year to 17,875 million yen. This was
mainly the result of an increase in retained earnings due to the booking of profit attributable to owners of parent.
The shareholders’ equity ratio improved 0.9 percentage points from the end of the previous fiscal year to 75.4%.
(3) Explanation of Consolidated Earnings Forecast and Other Forward-looking Statements
At this point, there are no revisions to the first-half and the full-year consolidated earnings forecasts for the fiscal
year ending March 31, 2025, which were announced in the “Summary of Consolidated Financial Results for the
Fiscal Year Ended March 31, 2024 (Japanese GAAP)” on April 26, 2024.
An announcement will be made promptly if the review of the progress of the QUICK Group’s operation status
requires a revision to this forecast.

4

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/25

2. Quarterly Consolidated Financial Statements and Notes(1) Quarterly Consolidated Balance Sheet
FY3/24(As of Mar. 31, 2024)(Thousands of yen)First quarter of FY3/25(As of Jun. 30, 2024)

AssetsCurrent assets
Cash and deposits

13,056,402

13,778,448

Notes and accounts receivable-trade

2,981,865

3,022,943

381,169

511,377

Other
Allowance for doubtful accounts
Total current assets(3,180)(3,230)16,416,256

17,309,539

1,013,641

1,019,323

Non-current assets
Property, plant and equipment
Buildings and structures, net
Vehicles, net

14,65020,915Tools, furniture and fixtures, net

254,017

280,694

Land

176,789

176,789

1,715

1,389

1,460,814

1,499,112

Software994,262

974,155

Software in progress

86,094

139,871

Goodwill

2,336

190,523

Leased assets, net
Total property, plant and equipment
Intangible assets

Other

10,646

10,646

1,093,340

1,315,197

Investment securities

2,131,919

2,712,384

Leasehold deposits

823,431

802,792

Deferred tax assets

77,19039,199Other

44,75446,653

Total intangible assets
Investments and other assets

Allowance for doubtful accounts(5,204)(9,609)Total investments and other assets

3,072,091

3,591,420

5,626,246

6,405,729

22,042,503

23,715,269

Total non-current assets
Total assets

5

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/25(Thousands of yen)First quarter of FY3/25(As of Jun. 30, 2024)

FY3/24(As of Mar. 31, 2024)
Liabilities
Current liabilities
Accounts payable-trade789,990756,285

Short-term borrowings

121,502130,000

Accounts payable-other

1,461,580

1,401,045

Accrued expenses

776,286

907,137

Income taxes payable

530,145829,228

Accrued consumption taxes

417,157

643,051

Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Asset retirement obligations

641,694

166,549

35,359–29,300–Other359,881330,046

5,162,896

5,163,344

Deferred tax liabilities

192,948408,706

Retirement benefit liability

17,63918,864

Asset retirement obligations

247,835

248,531741

541

459,164

676,6445,622,061

5,839,988

351,317351,317

Total current liabilities
Non-current liabilities

Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus

429,830

429,830

Retained earnings

14,512,614

15,528,668

Treasury shares(343,784)(343,784)

14,949,977

15,966,031

1,372,176

1,774,382

94,708131,884

1,466,885

1,906,267

Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

6

3,578

2,982

16,420,441

17,875,280

22,042,503

23,715,269

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/25(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statement of Income(For the Three-month Period)First three months of FY3/24(Apr. 1, 2023–Jun. 30, 2023)(Thousands of yen)First three months of FY3/25(Apr. 1, 2024–Jun. 30, 2024)

Net sales

8,983,806

9,569,973

Cost of sales

2,296,159

2,441,043

Gross profit

6,687,647

7,128,929

Selling, general and administrative expenses

3,682,426

4,115,144

Operating profit

3,005,220

3,013,784

Non-operating income
Interest income

459

663

Dividend income

4,859

4,833

Foreign exchange gains

4,922

9,080

Book sales commission

10,103

3,886

Other

8,128

3,931

Total non-operating income

28,47322,394283

283

Non-operating expenses
Interest expenses
Other

48

–

Total non-operating expenses

331

283

3,033,362

3,035,895

–

1,702

Ordinary profit
Extraordinary losses
Loss on retirement of non-current assets
Total extraordinary losses

–

1,702

3,033,362

3,034,193

Income taxes-current

487,569

772,437

Income taxes-deferred

439,755

160,645

Total income taxes

927,325

933,083

2,106,037

2,101,109

Profit before income taxes

ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

7

311

40

2,105,725

2,101,068

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/25

Quarterly Consolidated Statement of Comprehensive Income(For the Three-month Period)First three months of FY3/24(Apr. 1, 2023–Jun. 30, 2023)
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment(Thousands of yen)First three months of FY3/25(Apr. 1, 2024–Jun. 30, 2024)

2,106,037

2,101,109

201,550402,205

5,505

37,245207,056

439,451

Comprehensive income

2,313,093

2,540,561

Comprehensive income attributable to:
Owners of parent

2,313,110

2,540,450

(17)

110

Total other comprehensive income

Non-controlling interests

8

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/25(3) Notes to Quarterly Consolidated Financial Statements
Segment Information
I. First three months of FY3/24 (Apr. 1, 2023–Jun. 30, 2023)
1. Information pertaining to net sales and profit/loss in reportable segments and disaggregated revenue(Thousands of yen)Amount in thequarterly
Adjustment consolidated(Note 1)statement ofincome(Note 2)

Reportable Segment
Human
Resources
Services
Business
Net sales
Revenue fromcontracts withcustomers
Other revenue
Sales to externalcustomers
Inter-segment
sales andtransfers
Total

Local
Recruiting Information
Business
ServiceBusinessHR
PlatformBusiness

Overseas
Business(Note 3)

Total

6,854,717

749,611643,805

378,920

356,751

8,983,806–

8,983,806

–

–

–

–

–

–

–

–

6,854,717

749,611643,805

378,920

356,751

8,983,806–

8,983,806

2,277

3,870

4,493

1,866

1,141

13,649(13,649)–

6,856,994

753,481648,298

380,786

357,893

8,997,455(13,649)

8,983,806

Segment profit
2,918,638
75,147
114,680
203,072
46,965 3,358,505(353,284)
3,005,220
Notes: 1. The (353,284) thousand yen adjustment to segment profit includes elimination for inter-segment transactions of
49,151 thousand yen, and (402,436) thousand yen in company-wide costs that cannot be allocated to any specificreportable segments. Company-wide costs consist primarily of expenses related to the administration division which
are not attributable to any reportable segments, including general affairs and accounting at the Company.
2. Segment profit is adjusted with operating profit shown on the quarterly consolidated statement of income.
3. Countries and regions included in the Overseas Business are U.S., Mexico, U.K., China, Vietnam, and Thailand.

2. Information on impairment losses of non-current assets, goodwill, etc. by reportable segment
Not applicable.

9

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/25

II. First three months of FY3/25 (Apr. 1, 2024–Jun. 30, 2024)
1. Information pertaining to net sales and profit/loss in reportable segments and disaggregated revenue(Thousands of yen)Amount in thequarterly
Adjustment
consolidated(Note 1)statement ofincome(Note 2)

Reportable Segment
Human
Resources
Services
Business
Net sales
Revenue fromcontracts withcustomers
Other revenue
Sales to externalcustomers
Inter-segment
sales andtransfers
Total

Local
Recruiting Information
Business
ServiceBusinessHR
PlatformBusiness

Overseas
Business(Note 3)

Total

7,165,467

748,933

623,862

396,651

635,058

9,569,973–

9,569,973

–

–

–

–

–

–

–

–

7,165,467

748,933

623,862

396,651

635,058

9,569,973–

9,569,973

687

56,197

2,453

1,496

2,224

63,059(63,059)–

7,166,155

805,131626,315

398,147

637,282

9,633,033(63,059)

9,569,973

Segment profit
2,836,593
137,786
91,923
225,408
103,233 3,394,945(381,161)
3,013,784
Notes: 1. The (381,161) thousand yen adjustment to segment profit includes elimination for inter-segment transactions of
104,629 thousand yen, and (485,790) thousand yen in company-wide costs that cannot be allocated to any specificreportable segments. Company-wide costs consist primarily of expenses related to the administration division which
are not attributable to any reportable segments, including general affairs and accounting at the Company.
2. Segment profit is adjusted with operating profit shown on the quarterly consolidated statement of income.
3. Countries and regions included in the Overseas Business are U.S., Mexico, U.K., Netherlands, China, Vietnam, andThailand.

2. Information on impairment losses of non-current assets, goodwill, etc. in reportable segments(Significant changes in the amount of goodwill)In the Human Resources Services Business, transfer of business operations has resulted in goodwill. The
increased amount of goodwill by the said event was 191,852 thousand yen for the period under review.
3. Information on changes, etc. in reportable segments(Changes in the names of reportable segments)
Effective from the period under review, the name of the reportable segment that was previously referred to as theInformation Publishing Business has been changed to the Local Information Service Business to more accurately
represent the nature of the business.
This change is merely a change in segment name and has no impact on segment information. The segment
information for the same period of the previous fiscal year is also presented under the new name.

10