2nd Quarter FY2021

Supplementary Materials

August 10, 2021
Vision Inc.
TSE 1st Section： 9416
1

Copyright(C) 2021 VISION INC. All Rights Reserved.

Company Overview

Copyright(C) 2021 VISION INC. All Rights Reserved.

2

VISION INC.
Code

9416

Operation Bases and Affiliates(1st Section of the Tokyo Stock Exchange)

Incorporated

Domestic Affiliated Companies： 6

December 4, 2001

Domestic Operation Bases： 12(Founded June 1, 1995)

Management
Philosophy

To Contribute to the Global Information
and Communications Revolution

Head Office

5F Shinjuku i-Land Tower, 6-5-1 NishiShinjuku, Shinjuku-ku, Tokyo 163-1305

Number ofConsolidated
Employees

712 (120)
Domestic: 641 (118)
Global: 71 (2)(Average temporary
employees)(As of June 30, 2021)

AffiliatedCompanies

Domestic: 6
Global: 12

Global Affiliated Companies： 12
Korea, USA (Hawaii), Hong Kong,
Singapore, Taiwan, UK, Vietnam,
China (Shanghai), France, Italy,
USA (California), New Caledonia

Vision Inc.
Best Link Inc.
Members Net Inc.
Alphatechno Inc.
BOS Inc.
Vision Ad Inc.
Vision Digital Marketing Inc.

GLOBAL WIFI.UK LTD
Global WiFi France SAS
Vision Mobile Italia S.r.I.

(As of June 30, 2021)

Business

Domestic Airport Counter： 19

GLOBAL WiFi
Information andCommunications Service

上海高效通信科技有限公司

Vision Mobile Korea Inc.
Vision Mobile Hawaii Inc.

Vision Mobile Hong Kong Limited

VISION VIETNAM ONE MEMBER
LIMITED LIABILITY COMPANYVISION MOBILE USA CORP.

無限全球通移動通信股份有限公司（台湾）

GLOBAL WIFI.COM PTE. LTD.
VISION MOBILE NEW CALEDONIA

Affiliates, Purchasing / Operation Bases
Purchasing / Operation Bases
System Development Center (Offshore)

Copyright(C) 2021 VISION INC. All Rights Reserved.

3

History and Sales Change
25th anniversary
Changed the market to the 1st Section of
the Tokyo Stock Exchange in Dec. 2016

Started GLOBAL
WiFi business

Listed with “Mothers” of the Tokyo
Stock Exchange in Dec. 2015

Started domestic
Wi-Fi routerrental business

2020

2016

2015

2012

Startedbroadband
business

2010

2008

Started company
cellphonebusiness

2007
2006
2005
2004
Started Internet
advertisingbusiness

Founded
1995

2003
Started international telephone service
sales business for South American people
who live in Japan

Irregular
perioddue tochangesin fiscal
year-end

Copyright(C) 2021 VISION INC. All Rights Reserved.

4

Our Core Strategies

Offer just the right value to realize sustainable growth
Niche & Focus
strategy

Price & Quality
leadership strategy

Up/Cross selling
strategy

Discover the challenges createin the niches of the evolution in
information and communications,and develop new markets.
Focus management resources
on carefully selected targets,and refine our services.

Production efficiency isthoroughly pursued.
Realize by improving
organizational structure andbusiness speed.
While maintaining high quality ofservice, demonstrate pricecompetitiveness surpassing
competitors.

Pick up new needs for informationand communications services andcontinuously offer services atreasonable prices at the righttime.
Build a long-term relationshipwith customers.

✓ Productivity, price advantage✓ Service quality evaluation✓ Original CRM✓ Subscription-based business✓ Overseas travelers✓ Startup companies✓ Teleworking

Copyright(C) 2021 VISION INC. All Rights Reserved.

5

Business Summary

Copyright(C) 2021 VISION INC. All Rights Reserved.

6

Two Business Segments“GLOBAL WiFi” Business
Provide anytime, anywhere, safe, secureand comfortable mobile internet
environment all over the world.
Wi-Fi router rental service.
Connectable with multiple users and multiple
devices (companion, smartphone, laptop, etc.).

Information and Communications
Service Business
Provide the most suitable information andcommunications-related products andservices tailored to the stage and needsof the company since starting business.
Our own sales structure, CRM.
Web marketing × Sales rep × CLT (Customer
Loyalty Team).com

Order and payment

Receive routerUse overseas

Return router

Telephone Cellphone
OfficeSupport AutomationLine
Arrangements

Copyright(C) 2021 VISION INC. All Rights Reserved.

WebsiteSupportSecurity

ElectricPower

Cloud App
Service(SaaS)

7

“GLOBAL WiFi” BusinessBusiness Model/Competitive Advantage

Areas

Maximum cost benefits -89.9%
From JPY300/day

Japanese cellphone companies’ fixed-rate discount comparison

Available in over 200 countries and regions worldwide, leading theindustry in the number

Comfortable

High-speed communications in partnership with telecom carriers aroundthe world

Safe / Secure

Secure; 47 support bases available 24 hours a day, 365 days a year,
around the world

Worldwide
telecommunications
companies

Customers

Uptake ability of corporate needs
Number of users is the largest in the industry

Datacommunication
service

Payment

Direct website
Apps
Affiliates
EC mallCorporate sales
Partners
Airport counters

Shipping
ReturnEnd Users

Corporate Sales

Number of airport counter is the industry’s largest class

Vision GroupCounterJoin from Sep. 2019.
One of the world’s largest
mobile telecom businessassociations that links
more than 750 mobile
telecom carriers and 400
related industrial
operators worldwide.

Rental fees

Copyright(C) 2021 VISION INC. All Rights Reserved.

Payment

Settlement service
providers

Less Expensive
Fixed-rate

8Comparison of Overseas Internet Connection
Means ①
“Global WiFi” “NINJA WiFi” are competitive in safety, security, comfortability,and price.
Users are unwilling to share their own data traffic with others, but they are lessreluctant to share a rented Wi-Fi router with others (They tend to share it with two or
three people in case of independent travel).
* Based on our research and standard.
Means

Price

Area

Speed

Management

Security

○

○

○

○

○

Partnering with overseas high quality ISP - to offer the fastest connection speed
in the area, reasonable price, security and usability.

Roaming(Telecom carriers’
fixed-rate)

Prepaid SIM(Purchased
overseas)

Free Wi-Fi Spot

×

△

△

○

○

There are problems with price and quality.
(It costs from about JPY980 to JPY2,980/day, and it may cost more expensive.)

△

△

○

×

○

Need knowledge to manage. (Local purchase, issues with data capacity, andperiodical charge is required, etc.)

○

×

△

○

×

(Hotel, Café, etc.) Problem with coverage (with limited communication area), speed (depending on theuser’s communication environment and traffic conditions), and security.
Copyright(C) 2021 VISION INC. All Rights Reserved.

9

Comparison of Overseas Internet Connection
Means ②
Wi-Fi router rental

Comparison

Roaming(Telecom carriers’
fixed-rate)

Free Wi-Fi Spot /Hotel Wi-Fi

JPY980-2,980/day

JPY300-2,170/day* Round-the-world plan JPY2,980/day

Apply for rental on the website.

FeeFree Wi-Fi spot Free
Need to check in advance thecontract details, compatible
Accommodation fee (Hotelmodels, and settings, etc.
Wi-Fi included) or JPY500-3,000
according to the plan.
Hotel Wi-Fi ＋accommodation fee* Depending on your mobile carrier

Fixed fee and stable speed
Full security and compensation
You can use it comfortably thanks to the
fixed fee.
Choose the communication capacity
according to your situation.

Advantage

Easy to connect* Tethering is also available.

Expensive
Fee is more expensive than those for
DisWi-Fi rental.
Need to carry a Wi-Fi router in addition to advanIf the setting is wrong for data
your smartphone.
tage
roaming, the fee can be more

More luggage

expensive.
If you connect the Internet at a stablespeed without worrying about additionalcharges(You can use it with several people at alower fee by splitting the bill)

Available anywhere.
No worry about busy access anddifficulty to connect.

Recommend

If you want to connect theinternet easily
with your own device

Copyright(C) 2021 VISION INC. All Rights Reserved.

Easy to use
Area is limited, but it is provided freeof charge in many places, and it iseasy to connect.

Be careful about
unauthorized access
It is easy to use, but it has somerisks of virus infection and personal
information being stolen byunauthorized access.

Communication area islimited, but you want tosave money.
It is for users who only
need to connect theoverseas Internet in alimited amount of time.
10

“GLOBAL WiFi” Business
Items

Profit Structure

Summary
Overseas
Regular rental：
Rental fee per day × number of days used
Average: JPY1,000/day, Average number of days used: 7 days
Options available such as insurance, mobile battery, etc.

Sales

GLOBAL WiFi for Biz：
Monthly basic charge (JPY2,167) + data communication fee (plan) × number of days used
Use service in Japan (Domestic option for teleworking)Domestic (in Japan)
Rental fee per month (available for rental from 1 day)Average: Approx. JPY5,000/month, Average days used: 1.5 months (45 days)

Cost of sales

Data communication (telecom carriers in the world)
Terminal price (mobile Wi-Fi routers)
Recorded as rental asset (recorded by depreciation over 2 years)

Outsourcing (commission paid to sales agents), etc.

SG&A expenses

Personnel, advertising, shipping delivery, business consignment, credit
card payment, etc.
Operation and rent of shipping centers, airport counters, customer
centers, etc.
Other SG&A expenses, etc.
Copyright(C) 2021 VISION INC. All Rights Reserved.

11

Utilize “CLOUD Wi-Fi Router”- Maximize Convenience and Cost Efficiency A Wi-Fi router with next-generation communication technology that manages SIM
on the cloud.
No need to insert/change SIM physically.
Communication lines of the world are available with only one device.
The device settings can be adjusted remotely in the case of communication failure.
The plan (data capacity) can be changed during the rental term.

Make the most of the characteristics of the CLOUD Wi-Fi router.
Convert the Cloud Wi-Fi router used for overseas communication service to the domestic Wi-Fi router.
Since a physical SIM card is not inserted in the router, it can be assigned to other routers depending on
the communication status.
* It can be operated even in the case that the number of rentals is more than the number of SIMs
(efficient operation of communication costs).
You can use it
immediately
after turningon the power!

Store SIMs allover the worldon the cloud

Copyright(C) 2021 VISION INC. All Rights Reserved.

12

Expand Service Areas for Unlimited Plan
- Competitive Advantage When Recovering Travel -Recently we tend to consume large amounts of data communication
capacity, such as diversified smartphone apps, transmission and receptionof large-volume images and videos, and SNS posting.
Popular to share with multiple people such as friends and family members, and to use multiple devices(smartphones, tablets, laptops, etc.) for business.
Expand the service areas and plans, responding to requests for the plan that can be used without worrying
about data capacity and long-term use (extended overseas business trip period due to COVID-19).
Increase choice ratio of unlimited plan ⇒ Improve ARPU.

Changes in the number of service
countries

Further expanded the coverage area.
Datacapacity

Start offering anunlimited plan

Further expanded
the coverage area.

Feb. 20194 Mar. 2020

74

Jun. 2019

71 Jun. 202091

Sep. 201972

Dec. 201973

Limited to travelers over 30 days
New

Available in
91 countries
Copyright(C) 2021 VISION INC. All Rights Reserved.

Long-term discount13

Airport Counter and Smart Pickup
Receive and return at domestic 17 airports, 34 counters, 36 Smart Pickup units, and return BOX.
Installed automatic pick-up lockers at 11 airports.

Smart
PickupThe service level is optimized according
to customer.

You can receivein 10 seconds.

Automatic
pick-up locker

Available at Haneda, Narita, Kansai, and other airports!

Eliminate waiting time for customers who do not need explanation such as repeaters (Utilize Smart Pickups).
Airport staffs respond to customers who need explanation (Utilize airport counters).
The highest number of airport
counters in the industry
At the airport

Receive and Return according tocustomers needs

By delivery

At a convenience store

Overseas destination

Airport and other places to receive/return in Japan
Hokuriku/Koshinetsu

Niigata Airport
Komatsu Airport★

Hokkaido/Tohoku

Kyushu/Okinawa

Hokuriku/Koshinetsu

Kanto
Kyushu/Okinawa

Tokai/Kansai

Fukuoka Airport★
Kita-kyushu Airport★
Oita Airport
Miyazaki Airport
JR Miyazaki Sta.
Kagoshima Airport★
Naha Airport
Miyako Shimojishima Airport★

Hokkaido/Tohoku

New Chitose Airport★

Asahikawa Airport
Sendai Airport
Kanto

Narita Airport★
Haneda Airport★
SHIBUYA“CHIKAMICHI”
Tokai/Kansai

Kansai Airport★
Chubu Airport★
Itami Airport★

★Available for automatic pick-up lockers
Copyright(C) 2021 VISION INC. All Rights Reserved.

25

Smart Strategy
Automatic pick-up locker

Self check-in KIOSK terminal(Multi-language available andsettlement function)

You can receive in 10 seconds
without waiting.

Smart Pickup

Immediate customer
identification counter(QR code reception counter)

Reception(Automatic pick-up locker)

Smart Pickup

Smart Check

Smart Entry

Shorten waiting time

No congestion

Improve CS

Standby

Improve convenience

Increase sales

Evolve to more convenient, comfortable, relieved counters that meet each customer’s needs,
responding to the increase in the number of rental (delivery) and optional services (compensation
service, accessory etc.), for Japanese traveling overseas and foreign visitors to Japan.

Copyright(C) 2021 VISION INC. All Rights Reserved.

15

Online Order System just before Departure(Smart Strategy × CLOUD WiFi × Database）

Smart Strategy

CLOUD WiFi

Collaboration

Database

Collaboration

Collaborate with each effort to further improve convenience

Acquire departing passengers on the day.
⇒ Increase number of users.
* Respond to WEB application in front of the airport counter
instantly in collaboration with the database.

Copyright(C) 2021 VISION INC. All Rights Reserved.

16

Expand Tabi-naka Services (Services during Travel)
Expand Tabi-naka services (including options), responding to customer
requests.
Support safe, secure, and comfortable travel.
Emergency location information service

Mobile battery

Advertising(destination information)

Translation device(pocketalk, ili)

Add data capacity
during travel
Total datacapacity is 0

Add data
capacity

Transit
GoPro HERO8

Damage Submerged

Lost

Theft

Mini photo
printer

Noise cancelingearphones

360° camera
Ultralight folding umbrella

Belongings Delay

Insurance
Copyright(C) 2021 VISION INC. All Rights Reserved.

17

Travel Related Service Platform
Use existing customer base and provide useful information/services tosolve problems during overseas travel.

In Japan, total approx. 4.06mn people/31.22mn nights

Overseas
travelers

Outbound (approx. 3.47mn people/24.29mn nights) + Inbound (approx.
0.99mn people/6.93mn nights) ＊ FY2019 results, our research

Advertising
revenue
improvement

Useful information(Media)Promotional materials(included flyers)

Airport counter

Useful services

ARPU
improvement

Optional services that are convenient when travelingInsurance, coupons, shop & duty-free shop, hotel & minpaku,
tours, rental cars & limousine, tourist attractions, etc.

Settlement platform

Guide customers to allied partners
Copyright(C) 2021 VISION INC. All Rights Reserved.

《Reference》
FY2018 results:
approx. 3.6mn people/25.22mn nights
・Outbound... approx. 2.82mn people/19.76mn nights
・Inbound… approx. 0.78mn people/5.45mn nights
18

Pick up at Convenience Store- Gaining Competitive Advantage When Travel Recovers Based on your convenience, another option is added: you can pick-up a Wi-Fi router atSeven-Eleven throughout Japan (excluding Okinawa) near your workplace or home.
Provide an option to avoid crowded places such as airport counters.
You can pick it up even at midnight if the store is open.

You can pick up
at Seven-Eleven nearyou.

At Seven-Elevennear you

You can pick it up at
Seven-Eleven near you.

At anytime

Ready-to-go
in advanceYou can pick it up even at
midnight if the store is open.

You don’t need to wait at the
airport counter.

Copyright(C) 2021 VISION INC. All Rights Reserved.

19

Expand Unmanned Stores- Gaining Competitive Advantage When Travel Recovers -Increase unmanned stores with vending machines.
Where are they set up? (As of end of Jun. 2021)
At Kita-kyushu airport, Miyako Shimojishima Airport* Plan to add more in the future.

What type of machines are set up?
Smart Pickup + Return BOX(Available for pick-up and return)

FeaturesNon-face-to-face receipt without waiting at the
airport counter even during busy seasons (forrepeaters who do not need explanation, and effective
against COVID-19).
Available 24 hours a day including early in the morningand late at night, when there are needs, but it isdifficult to secure personnel.
Also set up vending machines for pre-paid SIM fordomestic use mainly for foreign travelers visiting
Japan and those who are temporarily back to Japan.
Possible to add touch points in a small space and at
low cost (convenience improved and profits increased).
Copyright(C) 2021 VISION INC. All Rights Reserved.

20

“GLOBAL WiFi” Business

Rental Number Change

Our Wi-Fi rental service penetration ratio (Japan) *14.9%

Overseas use share (Outbound: Japan ⇒ Overseas)
Domestic use share (Inbound: Overseas ⇒ Japan + Japanese)
Share in the Japanese market (Out + In)

6.4%
4.4% 2.7%
1.4%
3.5%

2.0%
0.4%
0.3%
0.0%
0.2% 0.7%
FY2012FY2013
FY2014

1.2%
FY2015

11.7%
8.3%* Usage number of “GLOBAL WiFi for Biz” is not included.
Overseas business (Except for use inJapan, Overseas ⇒ Overseas)
Domestic use (Inbound: Overseas ⇒Japan + Japanese)
Overseas use (Outbound: Japan ⇒Overseas)

51

5
4

1
24 3
1 46
22

7.8%

5.8%

2.1%

2.2%

2.5%

3.1%

FY2017FY2018FY2019FY2016

7

Rental number(2Q cumulative change)

223 5996

62.9%
FY2020

139
3

28

3

165 406
114 28
96
6
216
78 19
1
175
4
9
130
64
88
64
30

15.3%

8.6%

4.7%

283

Annual rental number (Unit: 10 thousand）

7.1%

17.3%

73
3

49

18

60
1

12
106

2
8
57

29

75

38

29

39
0.9

37
0.3

FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020

FY2016/2Q

FY2017/2Q

FY2018/2Q

FY2019/2Q

FY2020/2Q

FY2021/2Q

cumulative

cumulative

cumulative

cumulative

cumulative

cumulative* Create from Japan Tourism Agency material and our research.

Copyright(C) 2021 VISION INC. All Rights Reserved.

21

“GLOBAL WiFi” Business

Market Size

Inbound (Foreign visitors to Japan)

Overseas travelers in the world(Number of international tourist arrivals)

Approx. 31.88mn people for a year.

A huge market of 1.46bn people.

* Results in FY2019

Approx. 4.11mn people for a year.

* Results in FY2019* Results in FY2020 (due to COVID-19)

In 2020, the number of overseas travelers
decreased by 1.0bn from the previous year.

Government’s target
60mn people in 2030

Announced by UNWTO Japan Office on February 15, 2021.

Outbound (Japan → Overseas)(bn people)(10 thou. people)

1.80

Approx. 20.08mn people for a year.
6,000* Results in FY2019

Approx. 3.17mn people for a year.

Forecast

1.46* Results in FY2020 (due to COVID-19)

1.33

Government’s
targetInbound
Outbound

1.00

3,188
3,119

1.04

1.10

1.14

1.19

1.40

1.24

2,869
1,9732,403
1,341
835 1,036
621
1,699 1,849 1,747 1,690 1,621 1,711 1,788 1,895

2,008

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

1,900
411
317
～

2030

2011 2012 2013 2014 2015 2016 2017 2018 2019

～

2030

Create from JNTO materials, Reiwa1 edition tourism white paper, and the materials released by UNWTO

Copyright(C) 2021 VISION INC. All Rights Reserved.

22

Information and Communications Service Business
Growth Strategy (Competitive Advantage)

StartupCompanies
WEB Strategy

Customer Loyalty

Products andservices

Have new dealings with one company in ten companies* that are newly established within
the year in JapanThe number of national corporate registration ... 118,999 (2020)
Source: Ministry of Justice

Ability to attract customers due to our own WEB marketing (Internet media strategy)
CRM (customer relations/continuous dealings) strategy, our own know-how
Maximization of continued revenue ＝ Stock business
Additional sales with high productivity (up/cross selling)

Products and services that lead to customers’ “sales improvement”, “cost reduction”,“efficiency improvement”, “communication activation”, and “DX promotion” (Productsthat are less affected by the economy)
We have multiple business segments (each product), and the business structure can bechanged according to the situation (economic conditions, trends, etc.) (a flexible businessstructure).

.com
Telephone Line Cellphone
Arrangements
Support

OfficeAutomation

Website Support

Security

Electric Power

Cloud App
Service(SaaS)* Total number of companies established within 6 months (including sole proprietors), starting business with us (our research)
The number of acquisitions will depend on the fluctuations in handling services and products.
Copyright(C) 2021 VISION INC. All Rights Reserved.

23

Information and Communications Service BusinessProfit Structure
Summary
Items

Sales

Fixed-line phones, cellphones, electric power,etc.

OA equipment (multifunction printers,
business phone system), website, andsecurity

Business brokerage fee (Brokerage

Sales pricecommission)

Paid by leasing and credit companies

Renewal commission (according to customers’

Maintenance fee

usage situation)

Paid by the manufacturers and factoring

Paid by telecom carriers and primary sales agents

Cost ofsales

Terminal prices (cellphones)

Equipment (OA equipment, and security)

No cost of sales for fixed-line phones arrangements

Paid to the manufacturers

and electric power

Outsourcing (commission paid to sales

Paid to telecom carriers and primary distributors

agents), etc.

Outsourcing (commission paid to sales agents),
etc.

Personnel expense

SG&A
expenses

Advertising expense (website, etc.)
Rent for call centers, etc.
Other SG&A expenses, etc.
Copyright(C) 2021 VISION INC. All Rights Reserved.

24

Information and Communications Service Business
Market Size
Number of incorporation registrations (total) ：118,999

Number of registration of transfer of head officeand branch (total) ：162,475

Approx. 120 thousand companies annually.
(Continued increase trend due to aggressive establishment
and corporate support by the government)
Attract customers utilizing the know-how of web
marketing with approx. 15 years experience.
Target newly established companies.

Approx. 160 thousand companies annually.
(Excluding the number of offices transferred that are notobliged to apply for registration)
Cover change procedures, etc. on addition and relocation.
Up/cross selling by advanced operations of Customer
Loyalty Team (CLT).

10.6

8.9

9.1

11.1

11.4

(10 thou.)

11.8 11.6 11.8 11.8

9.6

16.2
13.3 13.0 13.0 13.1

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

14.2 14.4 14.5
13.7 13.9

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Copyright(C) 2021 VISION INC. All Rights Reserved.

25

Information and Communications Service BusinessBusiness Model“Vision Hybrid Synergy model”

Sales improvement

Existing users
needs
Up selling Cost reduction
Cross sellingneeds
Efficiency(Pull)The business model built for 26 years since its
foundation has been developed to allbusinesses such as “GLOBAL WiFi” business.

Corporate sales strength (structure, know-how,
CLT
Cross
selling
Improve customer
various sales channels)
Up selling

Apparent needs that
customers are aware ofUser relationship

Develop newVideo.com websites,customers Landing
pages (LP)marketing(Pull)
SNS&emailGlobalmarketing

DX promotion

DX promotion
New users

Subscription
promotion

Potential needs that
customers areunaware of

Existing users

Management
Strategy Promote productivity

DX promotion

improvement

Analyze customer
Improve gross profit,
attributes
Strategy

Big data
Targetingmarketing

In-house SaaS
promotion

DX promotion

Membershipstrategyplanninggross profit margin
and absolute amount

Strategic investment Improve(M&A, alliance)
procurement

Sales

Sales improvement
needs

Cost reductionneeds
Efficiency
improvement
needs
Communication
activation needs

Multi-job
promotion

Assetsmarketingactivation needs

satisfaction

Enhanceescalation

Marketing

improvement
Communication needs

Improveaverage value(escalation, visits,
acquisitions)

DX promotion
Enhance sales,
Enhancetelemarketing
partner, FC
Sales contact
centerDevelop new customers(Push)

Copyright(C) 2021 VISION INC. All Rights Reserved.

Existing users
Up selling
Cross selling(Push)

Definite targeting, timing
sales, Life Time Value
26

Information and Communications Service Business
Customer Service
Create values with advanced operations
Customer Loyalty Team (CLT)
From delivery procedure to after-sales follow-up
Covers a wide range of operations

Customers

Sales rep

Customer Loyalty Team

ProposalContract

Subscription and Delivery
procedure
Decidein details
VariousInstallation
arrangements
Delivery

Arrange schedule

Copyright(C) 2021 VISION INC. All Rights Reserved.

After-sales
follow-up
SupportHearing

Provideinformation27

Information and Communications Service Business“High Efficiency” Marketing“High efficiency” marketing with combined three factors:
web marketing × sales rep × CLT

Newcustomers

Acquire highly
reliable actual
demandExisting
customers

Hearcustomers’issues andneeds

Proposalwith highprecision

Cooperation

Cooperation

Web marketing
team

Customer Loyalty
Team (CLT)

Sales rep
Copyright(C) 2021 VISION INC. All Rights Reserved.

28

Information and Communications Service Business
Escalation (Cooperation among Divisions, Customer Referral)
Organization culture that creates continuous evolution○たゆまぬ進化を生みだす組織カルチャーHigh productivity generated by escalation system (cooperation among
事業部間連携（エスカレーション）が生みだす高い生産性
divisionsand customer referral)
Customers

Improve productivity through flat and open culture,and the “escalation system” promoting cooperation among divisions

Cooperation

Cooperation

Cooperation

Cooperation
Copyright(C) 2021 VISION INC. All Rights Reserved.

29

Information and Communications Service Business
Subscription-based Business Model
Subscription-based Business Model
Provide optimum solutions according to the growth stage, continuing to stay close to
the growth of customer companies.
Structure that accumulates profits by our original know-how CRM (customer
relations/continuous dealings).
Offer products and services

Optimum
solutions

Offer OA equipment
and website support,
etc. suitable for thebusiness environment
Consulting services
suitable for thebusiness growth stage

Optimum
solutionssuitable for the businessenvironment
Offer in-house products
and services
Consulting services suitable
for the business growth
stage

Further growth
stage

Early growthstage
Startup
stage

Increase employees
coming from businessexpansion(Add communicationlines, and numbersof units, etc.)

Optimum
solutions

Increase employees
coming from businessexpansion(Add communicationlines, and numbersof units, etc.)

Current main targets

Future targets“Reserves for Growth”“Companies in growth stages”

Copyright(C) 2021 VISION INC. All Rights Reserved.

30

APPENDIX

Copyright(C) 2021 VISION INC. All Rights Reserved.

31

Group Structure
Number of affiliated companies

Number of operation bases
Airport counter (directly operated)
Overseas
Domestic

Overseas
Domestic

12

12

2017

12

2017

12

12

16
2018

12
12

7

8

7

7

12

2018

2019

2020

2021 2Q

2017

Number of employees (full-time)649
Female
616
593
586
Male
205
497
206
174
198
146

351

18

412

2018

444

2019

19

19

12

12

15

12

12

2019

2020

2021 2Q

14

12

3

15

410

2020

Personnel classification (full-time)
649
616
593
586
84
56
57
72
497
41
210
228
205
200
191

Profession
Clerical
Sales

395

2021 2Q

265

314

337

350

331

2017

2018

2019

2020

2021 2Q

Copyright(C) 2021 VISION INC. All Rights Reserved.

32

Performance Data
Sales
27,318Gross profit
Gross profit margin

15,69021,503

17,46816,654

17,554
14,843
12,485
10,185(JPYmn, %)Gross profit

12,650

5,651
55.5

6,909

10,1608,622
58.1

8,793 8,775
58.8

57.9

57.4

55.3

52.8
52.7

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021
Forecast

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021
Forecast

Operating profit

SG&A expenses

Operating profit
Operating profit margin

SG&A expenses
SG&A-to-sales ratio

5,365
52.7

6,105

7,332

12,365

10,1658,372

2,484 12.2
1,788

8,689 8,200

49.4

11.6

1,290 10.2
804

48.9

3,325

286

52.2
47.7

47.3

45.3

46.9

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021
Forecast

2.8

1,007

8.7

6.4

103

5.8

0.6

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021
Forecast

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33

Customer Attributes (Corporate/Individual)“GLOBAL WiFi” Business

Overseas Use (Outbound)

2Q FY2021 *Fiscal period(Apr.-Jun.) Result

Rental number

AmountCorporate
Individual

51.2%

48.8%

2Q FY2020 *Fiscal period
Rental number(Apr.-Jun.) Result
13.4%

34.9%

Corporate
Individual

Corporate
Individual

65.1%

AmountCorporate
Individual

23.0%
86.6%

Copyright(C) 2021 VISION INC. All Rights Reserved.

77.0%

34

Customer Attributes (Corporate/Individual)“GLOBAL WiFi” Business

Overseas Use (Outbound)

2Q FY2021 *Cumulative period(Jan.-Jun.) Result

Rental number

AmountCorporate
Individual

Corporate
Individual

28.2%

38.3%
61.7%

2Q FY2020 *Cumulative period
Rental number(Jan.-Jun.) Result

71.8%

AmountCorporate
Individual

32.7%
67.3%

Copyright(C) 2021 VISION INC. All Rights Reserved.

Corporate
Individual

41.3%
58.7%

35

Customer Attributes (New/Repeat)“GLOBAL WiFi” Business

Overseas Use (Outbound)

2Q FY2021 *Fiscal period(Apr.-Jun.) Result

Rental number

AmountRepeatNew

Repeat
New

39.4%

39.1%

60.9%

60.6%

2Q FY2020 *Fiscal period
Rental number(Apr.-Jun.) Result

AmountRepeatNew

Repeat
New

21.6%

41.2%
78.4%

Copyright(C) 2021 VISION INC. All Rights Reserved.

58.8%

36

Customer Attributes (New/Repeat)“GLOBAL WiFi” Business

Overseas Use (Outbound)

2Q FY2021 *Cumulative period(Jan.-Jun.) Result

Rental number

AmountRepeat
New

52.5%

46.9%

43.7%

56.3%

47.5%

2Q FY2020 *Cumulative period
Rental number(Jan.-Jun.) Result

RepeatNew

AmountRepeatNew

RepeatNew

53.1%

Copyright(C) 2021 VISION INC. All Rights Reserved.

49.2%

50.8%

37

Customer Attributes (Age/Gender, Corporate or Individual)“GLOBAL WiFi” Business

Overseas Use (Outbound)

2Q FY2021 (Apr.-Jun.) Result
Gender, Corporate or individual

Age

4.3%

7.8%

7.0%
8.2%
9.1%

9.6%

10.4%

12.7% 7.4%

13.2%

Under 18
35-39
55-59

25-29
45-49
Unknown

30-34
50-54

2Q FY2020 (Apr.-Jun.) Result
Age
21.6%

0.5%

6.9%
8.1%

3.5%
5.3%

18.0%

Under 18
35-39
55-59

19-24
40-44
Over 60

37.8%

Individual / Female

Individual / Male

Corporate / Female

Corporate / Male

Gender, Corporate or individual
12.6%

8.4%
9.7%

8.5%

36.3%

9.4%

10.3%

19-24
40-44
Over 60

16.5%

22.4%
47.3%

9.6%

25-29
30-34
Individual / Female
45-49
50-54
Corporate / Female
Unknown
Copyright(C) 2021 VISION INC. All Rights Reserved.

17.8%

Individual / Male
Corporate / Male38

Customer Attributes (Age/Gender)“GLOBAL WiFi” Business

Overseas Use (Outbound)

2Q FY2021 (Apr.-Jun.) Result
Age (Male)
12.9%

7.8%

Age (Female)

3.4%

5.3% 7.7%

12.1%
5.8%

8.9%

8.5%

Under 18
35-39
55-59

9.7%
9.6%

11.2%

10.5%

13.9%

9.7%

19-24
40-44
Over 60

25-29
45-49
Unknown

30-34
50-54

11.9%

8.9%

11.3%

9.8%

6.4% 6.7%

Under 18
35-39
55-59

19-24
40-44
Over 60

7.9%

25-29
45-49
Unknown

30-34
50-54

2Q FY2020 (Apr.-Jun.) Result
Age (Male)

6.5% 8.2%
8.5%

21.0%

4.1%

10.0%

5.6%
7.6%

Age (Female)

0.0%

10.6%

2.0%

19-24
40-44
Over 60

7.7%
8.1%

4.7%

9.1%

10.4%

18.0%

Under 18
35-39
55-59

8.1%

22.9%

1.7%

17.8%

Under 18
25-29
30-34
35-39
45-49
50-54
55-59
Unknown
Copyright(C) 2021 VISION INC. All Rights Reserved.

19-24
40-44
Over 60

7.4%

25-29
45-49
Unknown

30-34
50-54
39

Customer Attributes (Age/Gender)“GLOBAL WiFi” Business

Domestic Use (Except for teleworking, etc.)

2Q FY2021 *Fiscal period(Apr.-Jun.) Result
1.2%

Age

5.2%
16.3%

0.0%

Gender

1.6%

23.9%

40.0%
24.4%

27.5%

Under 19

20-29

30-39

40-49

50-59

60-69

Over 70

Unknown

2Q FY2020 *Fiscal period(Apr.-Jun.) Result
4.2%

60.0%

0.8% Age

14.5%

0.0%

Male

Gender

1.2%

24.6%

Female

38.0%

24.8%

62.0%

29.7%

Under 19

20-29

30-39

40-49

50-59

60-69

Over 70

Unknown

Copyright(C) 2021 VISION INC. All Rights Reserved.

Male

Female40

Customer Attributes (Age/Gender)“GLOBAL WiFi” Business

Domestic Use (Except for teleworking, etc.)

2Q FY2021 *Cumulative period(Jan.-Jun.) Result
1.1%
Age

0.0%

5.0%

15.9%

Gender

1.6%

24.9%

40.1%
24.5%

27.1%

Under 19

20-29

30-39

40-49

50-59

60-69

Over 70

Unknown

2Q FY2020 *Cumulative period(Jan.-Jun.) Result
Age
4.2%

59.9%

0.8%

14.6%

0.2%

FemaleGender

1.5%

24.2%

25.9%

Male

39.4%
60.6%

28.5%

Under 19

20-29

30-39

40-49

50-59

60-69

Over 70

Unknown

Copyright(C) 2021 VISION INC. All Rights Reserved.

Male

Female41

Customer Attributes (Age/Gender)“GLOBAL WiFi” Business

Domestic Use (Except for teleworking, etc.)

2Q FY2021 *Fiscal period
Age (Male)(Apr.-Jun.) Result
0.0%
1.4%
6.1%

Age (Female)

1.5%

3.8%

16.7%

23.3%

16.0%
23.4%

0.8%

26.0%

28.3%

0.0%

1.7%

24.7%

26.4%

Under 19

20-29

30-39

40-49

Under 19

20-29

30-39

40-49

50-59

60-69

Over 70

Unknown

50-59

60-69

Over 70

Unknown

2Q FY2020 *Fiscal period(Apr.-Jun.) Result 1.1% Age (Male)

0.2%

4.9%
15.6%

1.7%

0.6%Age (Female) 0.0%
3.0%
1.2%
13.8%

21.2%

27.7%

24.3%

27.0%

27.7%

30.0%

Under 19

20-29

30-39

40-49

Under 19

20-29

30-39

40-49

50-59

60-69

Over 70

Unknown

50-59

60-69

Over 70

Unknown

Copyright(C) 2021 VISION INC. All Rights Reserved.

42

Customer Attributes (Age/Gender)“GLOBAL WiFi” Business

Domestic Use (Except for teleworking, etc.)

2Q FY2021 *Cumulative period
Age (Male)(Jan.-Jun.) Result
0.0%
1.3%
6.0%

Age (Female)

1.5%

3.5%

16.0%

24.3%

15.8%

0.7%

26.1%

23.5%
27.7%

0.0%

1.8%

25.7%

26.1%

Under 19

20-29

30-39

40-49

Under 19

20-29

30-39

40-49

50-59

60-69

Over 70

Unknown

50-59

60-69

Over 70

Unknown

2Q FY2020 *Cumulative period(Jan.-Jun.) Result 1.0% Age (Male)

0.1%

5.0%
14.9%

1.4%

0.6% Age (Female) 0.3%
3.1%
1.6%
14.3%

24.6%

24.6%

28.0%

28.6%

23.7%

28.4%

Under 19

20-29

30-39

40-49

Under 19

20-29

30-39

40-49

50-59

60-69

Over 70

Unknown

50-59

60-69

Over 70

Unknown

Copyright(C) 2021 VISION INC. All Rights Reserved.

43

To Contribute to the Global Information andCommunications Revolution

Copyright(C) 2021 VISION INC. All Rights Reserved.

44

Notes on the Future Outlook
Materials and information provided in this announcement include so-called “forward-looking
statements.”
They are estimated at the present and are based on the assumption that involves forecasts
and risks, and substantially they include uncertainties which could cause different results fromthese statements.
These risks and uncertainties include general industry and market conditions, and generaldomestic and international economic conditions, such as interest rates and currency exchange
fluctuations.
In the future, even if there is new information or future events etc., we shall not be obligatedto update and revise the “forward-looking statements” included in this announcement.
Vision Inc.
Contact： Investor Relations Dept.
ir@vision-net.co.jp

Copyright(C) 2021 VISION INC. All Rights Reserved.

45