FY2019

Financial Results

February 12, 2020
Vision Inc.
(1st Section of the Tokyo Stock Exchange, code： 9416)

FY2019 Financial Results

Performance Highlights and FY2019 Results

P.3～

FY2020 Outlook of Financial Results

P.9～

Efforts to make in FY2020

P.14

Growth Strategy

P.28～

APPENDIX

P.50～⁃

Group Structure⁃

Performance Data⁃

“GLOBAL WiFi” Business

Customer Attributes(Corporate・Individual) / (New・Repeat) / (Gender / Age・Past Cumulative Total)⁃

Stock Split, Overview of Stock Options with Charge IssuanceBusiness Summary

P.60～

Copyright(C) 2020 VISION INC. All Rights Reserved.

Performance Highlights and FY2019 Results

Copyright(C) 2020 VISION INC. All Rights Reserved.

3

FY2019 Overview of Financial Results (Consolidated)

New records for both sales and each profit(JPYmn, %)FY2019 Result

Items

AmountSales
FY2018 Result

Gross profit
FY2018 Result

Operating profit
FY2018 Result

Recurring profit
FY2018 Result

Profit attributable toowners of parent
FY2018 Result

ChangeComposition
ratio

AmountPercentage

27,318100.0+5,814+27.0

21,503100.0+3,948+22.5

15,69057.4+3,040+24.0

12,65058.8+2,489

+24.5

3,325

12.2

+840

+33.8

2,484

11.6

+695

+38.9

3,358

12.3

+859

+34.4

2,499

11.6

+704

+39.3

2,226

8.1

+696

+45.6

1,529

7.1

+320

+26.5

Copyright(C) 2020 VISION INC. All Rights Reserved.

Factors for Change in Operating Profit
Operating profit margin 12.2%(JPYmn)+2,774

Cost of sales-to-sales
ratio+1.4% points(Approx. +0.6% points YoY)
Sales
“GLOBAL WiFi” Business
Increase rental number and improve ARPU (sales per rental)
due to increased demand for the unlimited plan.

Information and Communications Service Business
Increase sales steadily by up/cross selling strategy.

Cost of sales+5,814
SG&A-to-sales
Gross profit
ratio+JPY3,040mn（+24.0%） +2,199 -2.0% points“GLOBAL WiFi” Business
Improve purchasing conditions by volume discount.
Improve cost and operation efficiency by utilizing CLOUD WiFi
(Improve cost of sales-to-sales ratio and profit).
Improve cost of sales-to-sales ratio in this business (approx.
-2.9% points).

Information and Communications Service Business
Increase cost of sales-to-sales ratio by increasing the ratio of
products that generate purchased costs, such as mobile
communications (mobile phone) and MFP.

Operating profit+JPY840mn（+33.8%）2,484
Operatingprofitmargin11.6%
FY2018

Sales

Cost

3,325
Operatingprofitmargin12.2%
SG&A

expenses

FY2019OthersWith the launch of the new business “ProDrivers”, increase costof sales-to-sales ratio due to driver labor costs.
* Start business from FY2018/3Q (Incur new costs).

SG&A expenses
Improve work efficiency by utilizing AI chatbot, and RPA, etc.
Reduce labor cost-to-sales (approx. -3.1% points).
Invest to grow business in FY2020.

Copyright(C) 2020 VISION INC. All Rights Reserved.

Segment Result“GLOBAL WiFi” Business: Sales +31.3% and Segment profit +36.8%
Information and Communications Service Business: Sales +15.2% and Segment profit +11.9%(JPYmn, %)AmountAmountChangeAmountPercentage

13,505+4,226

+31.3

8,955

7,775

+1,180+15.2

26,68821,281+5,407

+25.4

637

231

+406

+175.8

-7

-8

0

－

Total (Cons.)

27,31821,503+5,814+27.0“GLOBAL WiFi”

3,301

2,413

+887

+36.8

18.6

17.9

+0.7

－

1,363

1,218

+144

+11.9

15.2

15.7

△0.5

－

Subtotal

4,665

3,632

+1,032+28.4

Others

-266

-194

-72

-37.3

Adjustments-1,073

-954

-118

-12.5

Total (Cons.)

3,325

2,484

+840

+33.8

Information andCommunications Service
Subtotal
OthersAdjustments

Profit margin

Information andCommunications Service
Segment
profit

FY2018Result17,732“GLOBAL WiFi”

Sales

FY2019ResultProfit margin

Copyright(C) 2020 VISION INC. All Rights Reserved.

“GLOBAL WiFi” BusinessTransition of Performance
The highest ever for the number of travelers from Japan to overseas and foreign visitors
to Japan
The acquisition of new users is strong, supported by stable repeat users.
Increase the service penetration ratio * (FY2018: 14.9% → FY2019: 17.3%). * See page 34
The unlimited plan (start from February 2019) is increasingly selected.
“GLOBAL WiFi for Biz” for corporate customers is gaining popularity and increasing shipments.
Effect of continuous efforts to improve profitability, such as cost efficiency and improvement of operations.
1Q
2Q
3Q
4Q

1Q

SALES
17,732+31.3%

13,505

SEGMENT PROFIT

2Q
3Q+36.8%

4Q

4,462

10,392+31.8%+30.6%

6,035

1,602
1,826
1,308
1,297
FY2015

7,882
2,073
2,329
1,697

2,636

2,226

+51.5%

5,084+39.7%

1,140
4,109

2,898

1,781

2,505

3,089

FY2016FY2017FY20184,075
FY2019

430

495

1,274

1,593

3,929

3,022

3,301

2,413

+30.0%

3,589(JPYmn)+92.2%

593
114

245
494

224

769
724

631
448

271

256
60
162

146
252

466

FY2015FY2016FY2017701
FY2018871

FY2019(Note) Regarding the quarterly results in FY2015, the year-on-year ratio is for reference, because we do not prepare for the quarterly financial statements.
Copyright(C) 2020 VISION INC. All Rights Reserved.

7

Information and Communications Service BusinessTransition of Performance
Increase sales and profits. Continue stable growth.
Continue to perform well due to acquiring our main targets (newly established companies, venturecompanies).
Accumulate continuous dealings by CRM (stock model).
Accumulate by up/cross-selling strategy.
Sales have been strong in in-house services (cloud-type workflow service, etc.) and consulting services suitable forthe business growth stage.

(JPYmn)
1Q
2Q
3Q
4Q

SALES

6,440

1,673
1,601
1,629

SEGMENT PROFIT

2Q+15.2%
+2.2%

+7.9%

1Q

6,948
1,730
1,749

+9.4% 7,775

7,104
1,725
1,786

8,955

1,782

2,115
903
2,330

1,977

1,818

FY2015FY2016FY2017FY20182,302

FY2019

1,172
285
287

188
342

371
350

221
316

337

264

282

296

FY2016FY2017FY2018

296

1,363

212

219
244

269

1,810

1,024

214

2,009

1,703

+3.9% 1,218+14.4%+13.4%

1,970

1,536

+11.9%

4Q

2,207
1,764

3Q

482
198
FY2015FY2019(Note) Regarding the quarterly results in FY2015, the year-on-year ratio is for reference, because we do not prepare for the quarterly financial statements.
Copyright(C) 2020 VISION INC. All Rights Reserved.

8

FY2020 Outlook of Financial Results

Copyright(C) 2020 VISION INC. All Rights Reserved.

9

FY2020 Forecast of Financial Results
Sales: +14.9％ YoY, and Operating profit: +20.4％ YoY(JPYmn, %)FY2020 Forecast

Items

AmountSales
FY2019 Result

Gross profit
FY2019 Result

Operating profit
FY2019 Result

Recurring profit
FY2019 Result

Profit attributable toowners of parent
FY2019 Result

ChangeComposition
ratio

AmountPercentage

31,396100.0+4,078+14.9

27,318100.0+5,814+27.0

18,25658.1+2,566+16.4

15,69057.4+3,040

+24.0

4,003

12.8

+678

+20.4

3,325

12.2

+840

+33.8

4,005

12.8

+646

+19.2

3,358

12.3

+859

+34.4

2,674

8.5

+448

+20.1

2,226

8.1

+696

+45.6

Copyright(C) 2020 VISION INC. All Rights Reserved.

Factors for Change in Operating Profit(FY2019→FY2020)
Operating profit margin 12.8％(JPYmn)(Approx. +0.6% points YoY)

Cost of sales-to-sales+1,511 ratio“GLOBAL WiFi” Business-0.7% points+4,078+1,887 SG&A-to-sales
ratio+0.1% points

Gross profit+JPY2,566mn（+16.4%）

Expand sales of “GLOBAL WiFi for Biz”.
Increase selectivity for the unlimited plan.
Expand Tabi-naka services (services during travel).
Expand overseas (expand worldwide).
Open shops directly according to the regional characteristics
and markets, expand franchise, tie-up with local competitors(offer data-line), etc.
Further improve convenience by expanding touch points andpickup locations/methods.
Increase awareness through various promotions.

Information and Communications Service
Business
3,325

4,003
Operating profit+JPY678mn（+20.4%）

Operatingprofitmargin12.2％
FY2019

Sales

Cost

Operatingprofitmargin12.8％
SG&A

expenses

FY2020Grow existing businesses (telephone line, OA equipment,
website support, etc.).
Strengthen sales of in-house original services.
Expand the service lineup by investing in SaaS (cloud app
service), with in-house development, M&A, and capitalbusiness alliance, and further expand business revenue
aggressively. * See page 27

All
Aggressively develop synergistic services and businesses,
including M&A and capital business alliance.
The operation and management system which are not linked
to increase orders (reduce SG&A-to-sales ratio).

Copyright(C) 2020 VISION INC. All Rights Reserved.

11

Segment Forecast•“GLOBAL WiFi” Business: Sales +18.9% and Segment profit +13.2%•

Information and Communications Service Business: Sales +2.8% and Segment
profit +9.8%(JPYmn, %)AmountAmountChangeAmountPercentage

17,732+3,344

+18.9

9,210

8,955

+254

+2.8

Subtotal

30,287

26,688+3,599+13.5

Others

1,108

637

+471

+74.0

0

-7

+7

－

Total (Cons.)

31,39627,318+4,078+14.9“GLOBAL WiFi”

3,736

3,301

+434

+13.2

Information andCommunications Service

1,497

1,363

+134

+9.8

Subtotal

5,233

4,665

+568

+12.2

-35

-266

+230

-86.5

Adjustments-1,194-1,073

-121

+11.3

Total (Cons.)

4,003

3,325

+678

+20.4

Information andCommunications Service

Adjustments

Segment
profit

FY2019Result21,076“GLOBAL WiFi”

Sales

FY2020
Forecast

OthersCopyright(C) 2020 VISION INC. All Rights Reserved.

Forecast for the Full Year (Quarterly Transition)(JPYmn, %)１Ｑ

FY2017FY2018FY2019

３Ｑ

４Ｑ

FY

Sales

4,326

4,024

4,827

4,377

17,554Composition ratio (vs. FY)

24.6

22.9

27.5

24.9

－

Operating profit

513

336

688

249

1,788

Composition ratio (vs. FY)

28.7

18.8

38.5

13.9

－

Operating profit margin

11.9

8.4

14.3

5.7

10.2

Sales

4,922

4,933

5,961

5,686

21,503Composition ratio (vs. FY)

22.9

22.9

27.7

26.4

－

Operating profit

736

499

900

348

2,484

Composition ratio (vs. FY)

29.6

20.1

36.2

14.0

－

Operating profit margin

15.0

10.1

15.1

6.1

11.6

Sales

6,470

6,467

7,610

6,770

27,318Composition ratio (vs. FY)

23.7

23.7

27.9

24.8

－

Operating profit

980

710

1,280

354

3,325

Composition ratio (vs. FY)

29.5

21.4

38.5

10.7

－

Operating profit margin

15.1

11.0

16.8

5.2

12.2

15,092

16,304

31,396

48.1

51.9

－

1,885

2,117

4,003

Composition ratio (vs. FY)

47.1

52.9

－

Operating profit margin

12.5

13.0

12.8

Sales

FY2020(Forecast)

２Ｑ

Composition ratio (vs. FY)
Operating profit

Copyright(C) 2020 VISION INC. All Rights Reserved.

Efforts to make in FY2020

Copyright(C) 2020 VISION INC. All Rights Reserved.

14

Promote to Utilize “CLOUD WiFi”
A Wi-Fi router equipped with next-generation
communication technology that manages SIM on
the cloudNo need to insert/change SIM physically.
Telecommunication carriers all over the world can beallocated with one device.

93.9% of shipping Wi-Fi routers (average of
FY2019)Differentiate by utilizing the SIM contracted by us(advantage of purchasing).
Some countries cannot respond depending on
telecommunication carriers. Around 90% is the upper limit.
You can use it
immediately
after turningon the power!

Store SIMs allover the worldon the cloud

Benefits
Reduce telecommunication cost ratio (Improve usage
efficiency of data-telecommunication).
Assign proper data-line when using.
Rental number is more than devices in operation. Operated with theproper number of data-lines and volume.
Labor saving of shipping operations (Reduce SG&A expenses.)Non-operated devices can be stocked abundantly.
Hold at airport counters etc. to eliminate stockouts.

Start the rental offer of “GW01”, the world’s first cloudenabled smartphone-type Wi-Fi router (from Aug. 1,2019).
Thickness -59％, weight -25％, up to 12 hours available
continuously.
Utilize ad distribution, GPS.

Copyright(C) 2020 VISION INC. All Rights Reserved.

GLOBAL WiFi for Biz

If you have GLOBAL WiFi for Biz...

Promote continuous use by corporate users (improve convenience, satisfaction), reduce
operating costs. Strengthen corporate sales (Expand sales channels). Increase thenumber of user companies (devices).

M1: Oops!!
M2: What's wrong?
M1: I've forgot to apply for Wi-Fi...

①

F: Your company has not introduced “Wi-Fi kept
at the office” yet?
M1: Wi-Fi kept at the office!?

F: GLOBAL WiFi for Biz, just bring the mobile WiFi router kept at the office!
No need for rental arrangement every travel!
Available in over 100 countries with one device!

②③

M1: It's a waste of expenses when not in use.
M2: We don't go overseas on business trips
frequently.
F: However, the fee is a fixed-rate system thatcosts only on the day you use it.
M1: Oh, is it!?

M1: But... I don’t like a slow data-line.
F: Don’t worry! It supports multiple carriers’ SIM
for one country and automatically selects andconnects the line with the best telecommunication
environment.

F: Since you can pay by invoice, no need to be
reimbursed expenses.
M2: Wow!
M1: Then we can reduce the user’s
reimbursement procedure and the approver’s
intermediate cost.

M1: Certainly attractive though... if we introduce
it, I have to persuade my boss...
F: GLOBAL WiFi, no need to purchase a device.
Since it can also issue actual usage details, it'ssafe as a company.

④

⑦

⑤

F: In addition, with the optional Japan fixed-rate
plan, domestic (Japan) internet connection is free
up to 3GB/month.
M1: In other words, even when we don’t gooverseas on business trips, we can easily use it asa mobile Wi-Fi router in Japan.

⑥⑧ F: And the basic charge is JPY1,970/month! ⑨

Copyright(C) 2020 VISION INC. All Rights Reserved.

Offer an Unlimited Plan (Expand Available Areas)
There is a tendency to consume large data, such as diversification of smartphone apps,
transmission and reception of large-volume images and videos, and SNS posting.
Popular to share with multiple people such as friends and family, and to use withmultiple devices (smartphones, tablets, laptops, etc.) for business.
⇒ Respond to a request for the plan that can be used without worrying
about data capacity, and expand the service area.
Popular with both corporate and individual users. ⇒ Improve ARPU.

Changes in the number
対応国数推移of available
countries

Data
capacity

Start offering an unlimited plan

Further expanded
the coverage area.

Available in 73 countries

What’s an unlimited plan?
From the voice of customers who want touse without worrying about the datacapacity, “unlimited plan” with unlimited
data capacity was born.

Copyright(C) 2020 VISION INC. All Rights Reserved.

Feb.
2019
2019年2月

4

Apr. 2019
4月

35

5月
May 2019

63

Jun. 20196月

71

Aug. 20198月

72

Oct. 201910月

73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

Hired car service

Translation device(pocketalk, ili)

Advertising(destination information)

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) 2020 VISION INC. All Rights Reserved.

18

Airport Counter and Smart Pickup
Receive and return at 18 domestic airports, 38 counters, 31 Smart Pickup, and return BOX.
Installed automatic pick-up lockers at 10 airports.
Open new counter: Total 8
Oita Airport, Kita-kyushu Airport, JR Miyazaki Sta., Kagoshima Airport, New Chitose Airport, Miyako Shimojishima Airport
Narita Airport Terminal 3, Chubu Airport Terminal 2* Kita-kyushu Airport and Miyako Shimojishima Airport are unmanned shop.
Install Smart Pickup: Total 12
Kita-kyushu Airport, Kagoshima Airport, New Chitose Airport, Miyako Shimojishima Airport, Narita Airport, Chubu Airport,
Fukuoka Airport

The service level is optimized according to customers.
Eliminate waiting time for customers who do not need explanation such as repeater. (Utilize Smart Pickups.)
Airport staffs respond to customers who need explanation. (Utilize airport counters.)
Airport and other places to receive/returnin JapanNumber of airport counter is theindustry’s largest class.

Receive and Return according
to customers’ needs

Hokuriku/Koshinetsu

Niigata Airport

New Chitose Airport★

Komatsu Airport

Asahikawa Airport

Kyushu/Okinawa

Fukuoka Airport★

Airport

Overseas

Delivery

Copyright(C) 2020 VISION INC. All Rights Reserved.

Hokkaido/Tohoku

Sendai Airport
Kanto

Kita-kyushu Airport★

Narita Airport★

Oita Airport

Haneda Airport★

Miyazaki Airport

SHIBUYA“CHIKAMICHI”

JR Miyazaki Sta.

Tokai/Kansai

Kagoshima Airport★

Kansai Airport★

Naha Airport

Chubu Airport★

Miyako Shimojishima
Airport★

Shizuoka Airport
Itami Airport★

★Available for automatic pick-up lockers

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) 2020 VISION INC. All Rights Reserved.

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) 2020 VISION INC. All Rights Reserved.

Unmanned Shops and Vending Machines(Prepaid SIM for Japan)
Install new style shops (unmanned
shops and vending machines)

Installed airport
Kita-kyushu airport, Miyako Shimojishima
AirportWhat is installed
Smart Pickup + Retuen BOX (Available forpick-up and return)

Features
Also install pre-paid SIM for Japan vending
machines mainly for foreign travelers visiting
Japan and those who are temporarily back toJapan.
Respond to customers early in the morningand late at night, when securing humanresources is difficult even if there are needs.
Accelerate to add touch points with spacesaving and low-cost. (Improve convenienceand increase profits.)
Copyright(C) 2020 VISION INC. All Rights Reserved.

Alice Hirose used as Brand Image Character
Alice Hirose, who is popular from many people regardless of generation as anactress, used as the brand image character to have more people experience a
comfortable and safe overseas travel and realize the convenience of “GLOBAL
WiFi”.
Various developments such as TV commercials, special websites, promotion goods, andpanels at shops (to strengthen brand recognition)

Copyright(C) 2020 VISION INC. All Rights Reserved.

23

Open Central Return Center (Aomi, Tokyo)
Efficiency at the backend (Improve responsiveness without increasing laborcosts.)
Due to the consolidation effect, it has the ability to process large quantities, andrealizes responsiveness and quality improvement without increasing overall operation
costs while improving efficiency.
Number of cases that can be processed: More than 10,000 cases per day
Number of Wi-Fi router charging processes: 1,080 at the same time * As of Dec. 2019In-house developed equipment and systems (cord energization checker, charging
device, etc.)
Center(Outside and inside)

Cord energization checker(USB cable)

Copyright(C) 2020 VISION INC. All Rights Reserved.

Charging devices

24

Travel Related Service Platform
Use existing customer foundation and offer useful information/services to solve
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
Rental service of wearable
translation device

ARPU
improvement

Pick-up service etc.

Insurance, coupons, shop & duty-free shop, hotel &minpaku, tours, rental cars & limousine, tourist attractions,etc.

Settlement platform

Guide customers to allied partners
Copyright(C) 2020 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
25

ProDrivers (Expansion of Travel Related Service Platform)
Utilization (Utilize customer foundation)
Hired car time sharing service businessPick-up service to make every move comfortable in both business and daily life, such as airport
transfer, executive pick-up, etc.
Utilize the customer foundation of “GLOBAL WiFi” Business (including foreign visitors to Japan).
Target customers of Information and Communications Service Business and new customers, too.
Domestic：Starting from Tokyo. Plan to develop in major cities, including partner development.
Overseas：“SmartRyde” (operated by DLGB Inc., a capital and business alliance partner)

Respond to various needs, such as various events, corporate use, etc.

Move with big baggage.
Available in increments of 2 hours.
Available for up to 9 people for a single car(economical by splitting the cost)
Copyright(C) 2020 VISION INC. All Rights Reserved.

Information and Communications Service Business
Develop Cloud App Service (SaaS)
Services developed or used in-house are deployed to users.
Provide the required functionality in the cloud as needed.
Reduce users’ costs (implementation and running).

Make the most of the customer foundation andsales channels.
Build a foundation for future earnings in Information andCommunications Service Business.

Immediately expand the service lineup by investing(including in-house development, M&A, and capital business alliance).

VWS series(Attendance, workflow)

SNS for business（JANDI)

精算
申請

Copyright(C) 2020 VISION INC. All Rights Reserved.

27

Growth Strategy

Copyright(C) 2020 VISION INC. All Rights Reserved.

28

Medium-Term Growth Image“GLOBAL WiFi” Business
Customer Foundation/Business Foundation
Expansion (Market development = Growth in each stage, global expansion)
Stability (Improve profitability)
Utilization (Business development = Travel related service platform)

Information and Communications Service Business
Utilize the customer foundation.
Enhance sales channels.
Enhance products, services, business models.
Develop cloud app service (SaaS).

Travel related
service
platform“GLOBAL WiFi”
Travel related
service platform【3rd stage】 Overseas⇒Overseas【2nd stage】 Inbound【1st stage】 OutboundInformation and Communications
ServiceEnhance sales channels

Enhance products, services, business models
Copyright(C) 2020 VISION INC. All Rights Reserved.

29

“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) 2020 VISION INC. All Rights Reserved.

Payment

Settlement service
providers

Less Expensive
Fixed-rate

Compare How to Connect the Internet Abroad ①“Global WiFi” “NINJA WiFi” is the best way due to safe, secure, comfortable, and lessexpensive.
It’s not a big deal to share with a rental Wi-Fi router, although people are reluctant toshare their own data-volume with others. (Individual travel: tend to share with two or
three people.)* Created by our research and standard
How to Connect

Price

Area

Speed

Management

Security

○

○

○

○

○

Based on the best quality network in each local area. Low price, secure, safe,
available to connect anywhere. Easy to set-up, easy to manage.

Roaming(Telecom carriers’
fixed-rate)

Prepaid SIM(Purchaseoverseas)

Free Wi-Fi Spot

×

△

△

○

○

Problem with price and quality(From JPY980 to JPY2,980/day. It may be charged even more.)

△

△

○

×

○

Need knowledge to manage (Set-up, activation, periodical charge, etc.)

○

×

△

○

×

(Hotel, Café, etc.) Problem with coverage (not available in everywhere), speed (depend on data-line of
the facility and the number of connected people), security
Copyright(C) 2020 VISION INC. All Rights Reserved.

Compare How to Connect the Internet Abroad ②

Wi-Fi router rental
JPY300-1,970/day

Apply through the website.

Table

Price

Roaming(Telecom carriers’
fixed-rate)

Free Wi-Fi Spot /Hotel Wi-Fi

JPY980-2,980/day

Free Wi-Fi spot freeContract according to the plan
Need to check in advance thecompatible models and settings.
* Depend on your mobile carrier

Fixed-rate and high-speed
Substantial security and compensation
Use without worry due to the fixed-rate.
Choose the data-volume according to thesituation.

Merit

Easy to connect

RecoInternet availability anywhere. mmend
No worry about busy access anddifficulty to connect.

accommodation fee or
JPY500-3,000
Easy to use* Tethering is also available.

Limited use area, but many places
are provided for free, and connection
is easy.

Expensive

Be careful about
unauthorized access

More luggage
Price setting is more expensive than
Need to carry a Wi-Fi router in addition to Demerit
Wi-Fi rental.
your smartphone.
Misconfiguration of data-roaming may
result in expensive charges.
If you use the internet at a high-speed
without worrying about additional charges(Available to use by multiple people, evencheaper by the split)

Hotel Wi-Fi including

If you want to use theinternet easily
with your own device

Copyright(C) 2020 VISION INC. All Rights Reserved.

Easy to use, but there is a risk ofvirus infection and personal
information may be stolen byunauthorized access.

Want to save money,
although the coveragearea is limited.
If it is enough for you to
use the internet abroad
within a limited time“GLOBAL WiFi” BusinessProfit Structure

Items

Summary①Rental price per day × number of usage days
Average：JPY1,000/day

Sales

Average usage days：7 days

Options such as insurance, mobile battery etc.

②Monthly charge (JPY1,970) + data telecommunication fee (plan) ×
number of usage days

Usage of data telecommunication (telecom carriers all over the world)

Cost of sales

Devices (mobile Wi-Fi routers)
Recorded as rental asset (recorded by depreciation for 2 years)

Outsourcing (commission paid to sales agents), etc.
Personnel expenses
Advertising expense

SG&A expenses

Operation and rent of shipping center, airport counter, customer
center, etc.
Other SG&A expenses, etc.
Copyright(C) 2020 VISION INC. All Rights Reserved.

“GLOBAL WiFi” Business
Penetration Ratio/Rental Number
Our Wi-Fi rental service penetration ratio (Japan) *(Usage ratio of our service among travelers)
Overseas use share (Outbound: Japan ⇒ Overseas)
Domestic use share (Inbound: Overseas ⇒ Japan + Japanese)
Share in the Japanese market (Out + In)

1.4%

4.4% 2.7%

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

6.4%
3.5%

1.2%
FY2015

14.9%
8.3%

11.7%

4.7%

5.8%

2.1%
FY20162.2%
FY20177.1%

2.5%
FY2018Annual rental number (Unit: 10 thousand）* Usage number of “GLOBAL WiFi for Biz” is not included.
Overseas business (Except for use in Japan, Overseas ⇒ Overseas)
Domestic use (Inbound: Overseas ⇒ Japan + Japanese)
Overseas use (Outbound: Japan ⇒ Overseas)

5
4

FY2012

24
1
22

51
1
3
46

FY2013

FY2014* Create from Japan Tourism Agency material by us

78
4
9
64
FY2015114
61988
FY2016

165
6
28
130
FY2017

223
6
40

175

FY2018

Copyright(C) 2020 VISION INC. All Rights Reserved.

17.3%
8.6%

3.1%
FY2019

283
7
59

216

FY2019

“GLOBAL WiFi” Business

Market Size

Inbound (Foreign visitors to Japan)

Overseas travelers in the world (Numberof international tourist arrivals)
A huge market of 1.4bn people.

Over 31.88mn people for a year.
* Results in FY2019
Government’s target:
40mn people in 2020
60mn people in 2030

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

Approx. 20.08mn people for a year.
* Results in FY2019(mn people)

18.0

6,000
Forecast
Government’s
target

14.0

13.3

4,000

3,188

Inbound
Outbound

3,119
2,869

9.5

10.0

10.4

11.0

11.4

11.9

12.4

2,403

861 621

1,973
1,341
835 1,036

2,008
1,6631,6991,8491,7471,6901,6211,7111,7881,895

1,900

1,850

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

～

2030

2010 2011 2012 2013 2014 2015 2016 2017 2018

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

Copyright(C) 2020 VISION INC. All Rights Reserved.

～

2030

Information and Communications Service Business
Growth Strategy (Competitive Advantage)

StartupCompanies
WEB Strategy

Customer Loyalty

Products andservices

Have new dealings with one company in seven to eight companies* that are newly
established within the year in JapanThe number of national corporate registration ... 116,208 (2018)
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) 2020 VISION INC. All Rights Reserved.

36

Information and Communications Service BusinessProfit Structure
Summary
Items

Sales

Cost ofsales

Telephone line arrangements, cellphone,electric power, etc.

Office automation (multifunction printer,business phone), website support, security

Business brokerage fee (commission)

Sales priceContinuation fee (according to customers’

Fee from leasing company and credit company

usage situation)

Maintenance fee

Fee from telecom carriers and primary agents

Fee from the manufacturers and factoring

Devices (cellphones)

Devices (office equipment, security)

No cost of sales for telephone line arrangements

Payment to the manufacturers

and electric power

Outsourcing (commission paid to agents),

Payment to telecom carriers and primary agentsetc.

Outsourcing (commission paid to agents), etc.
Personnel expenses

SG&A
expenses

Advertising expense (website, etc.)

Rent of call center etc.
Other SG&A expenses, etc.

Copyright(C) 2020 VISION INC. All Rights Reserved.

Information and Communications Service Business
Market Size
Number of incorporation registrations (total) ：116,208

Number of registration of transfer of head officeand branch (total) ：144,597

Approx. 110 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 over 15 years experience.
Target newly established companies.

Approx. 140 thousand companies annually.
(Excluding the number of offices transferred that are notobliged to apply for registration)
Cover change procedures, etc. on addition and relocation.
Cross/Up Selling by advanced operations of Customer
Loyalty Team (CLT).
(Unit: 10 thousand)

10.6

8.7

8.9

9.1

11.1

11.4

11.8 11.6
13.8

13.3

13.0

13.0

13.1

13.7

13.9

14.2

14.4

9.6

2010 2011 2012 2013 2014 2015 2016 2017 20182010 2011 2012 2013 2014 2015 2016 2017 2018

Copyright(C) 2020 VISION INC. All Rights Reserved.

Information and Communications Service BusinessBusiness Model『 Vision Hybrid Synergy model 』

Sales improvement

Existing users
needs
Cross selling Cost reduction
Up sellingneeds
Efficiency(Pull)The business model built for 25 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

Identified needs that
customers are aware ofUser relationship

Develop newVideocustomers .com website
Landing Page
marketing(Pull)
SNS&emailGlobalmarketing

ＤＸ promotion

Cost reductionneeds
Efficiency
improvement Potential needs that
customers areneeds
unaware ofCommunication
activation needs

New users

Subscription
promotion

Existing users

Management
Strategy
Improve

ＤＸ promotion

productivity
Analyze customer
attribute
Strategy
Improvegross marginplanning

Big data
TargetingMarketing

In-house SaaS
promotion

DX promotion

Membershipstrategy

Strategic investment Improve(M&A, alliance)
procurement

Sales

Sales improvement
needs

DX promotion

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) 2020 VISION INC. All Rights Reserved.

Existing users
Cross selling
Up selling(Push)

Definite targeting, timing
sales, Life Time Value
39

Information and Communications Service Business
Customer Service
Create values with advanced operations
Customer Loyalty Team (CLT)
From delivery procedure to 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) 2020 VISION INC. All Rights Reserved.

Follow-up
SupportHearing

Offer
information

Information and Communications Service Business
Marketing
Web marketing × Sales rep × CLT Trinity “high efficiency”
marketingNew

Existing

customers

customers

Acquire highly
reliable actual
demandHearcustomers’
problems andneeds

Proposalwith highprecision

Cooperation

Cooperation

Web marketing
team

Customer Loyalty
Team (CLT)

Sales rep
Copyright(C) 2020 VISION INC. All Rights Reserved.

Information and Communications Service Business
Escalation○たゆまぬ進化を生みだす組織カルチャー
Organization culture that creates continuous evolution
Highproductivity created by cooperation between divisions (escalation)
事業部間連携（エスカレーション）が生みだす高い生産性
Customers

Improve productivity due to flat and open culture,promoting cooperation among divisions by “escalation system”

Cooperation

Cooperation

Cooperation

Cooperation
Copyright(C) 2020 VISION INC. All Rights Reserved.

Information and Communications Service BusinessContinuous Stock ModelContinuous stock model
Keeping closer to the growth of client companies, offer optimum solutions according
to the growth stage.
Structure that profits are accumulated by our original know-how CRM (customer
relations/continuous dealings).
Offer products and services
Offer OA equipment
and website support
etc. suitable for thebusiness environment
Consulting services
suitable for thebusiness growth stage

Optimum
solutions

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

Early growthstage

Startup
stage

Increase members
due to expansion(Add lines, numbersetc.)

Further growth
stage

Increase members
due to expansion(Add lines,
numbers etc.)

Current main targets:

Future targets:

Growth candidates

Enterprises in growth stages

Copyright(C) 2020 VISION INC. All Rights Reserved.

Sustainable Growth and Corporate Value
Improvement - ESG Activities
Environment

Corporate Governance

Measures against global warming
Promote ECO and recycling
Activities to support disaster areas

Strengthen corporate governance
Promote risk management
Strengthen compliance

Environment

GovernanceSocialRecruitment/Employment

Work-style Reform

Various recruitment channels
Recruitment advantages

Personnel system suitable for thetimes
Unique benefits

Relationship with SDGs

Approach to Environment
Acquire a “Green Site License” to offset the carbon
footprint of our website.
* Support the environment with “Green
Electricity” for our website's CO2 reduction.
Support and cooperate with the organization
which provides information, supports activities indisaster areas, and provides assistance to various
activities to “realize a society where people can
support each other in times of earthquake disasters.”
Offer reasonable LED by rental.
Paperless efforts
Provide iPad to sales staff, etc.
Utilize video conference (reduce unnecessary traveling).
Utilize electronic forms and internal SNS actively.
Select recyclable suppliers.

Provide iPad

Video conferenceElectronic form (workflow)
Utilize internal SNS

Select recyclable
suppliers

Approach to Society
Various recruitment channels
Fair recruitment, referral recruitment, employ women actively
Hire multinational employees (Foreign employees: 18.3％ (full-time))
Hire disabled people (Local group to support disabled people “Meiro-juku,”
continuously awarded since 2015.)

Personnel system suitable the times, introduce
unique benefits.
Shorter working hours, shift work, flextime
Half-day leave/hour leave (paid leave), spouse birthday leave (special leave)
Drink benefit (summer, influenza vaccination subsidy)

Average annual income
continues to increase.
Improve work efficiency.
* Utilize AI chatbot, RPA, etc., actively.
Improve productivity.
Shift to high-value-added work.
Commission, achievement allowance,
performance-linked bonus
Increase average annual income.

Robot automaticallyprocesses routine tasks, etc.
Data

OK
!

Invoice
Email

Input

46

Approach to Society“Vision Kids Nursery” opened as company-led
childcare businessIn childbirth and childcare, which are life events of employees, implement measures to makework rules more flexible, expand leave systems, and promote taking leave (current status)⇒ Provide a more work-friendly environment (a sense of security with children nearby) thanever before.
* Establish a childcare facility on site of CLT, where female
employees account for more than 90%.
Easy to return to work, and hire employees who are
motivated to work in a parenting generation⇒ Sources of sustainable growth

Copyright(C) 2020 VISION INC. All Rights Reserved.

Approach to Society
Support Japan Heart’s activities “Providing ｍedical care to areas where
it is currently out of reach, wherever that may be.”International medical NGO established by the founder Hideto Yoshioka (pediatrician) in order toimprove the quality of medical support activities, based on his experience of overseas medical care.
Supported by many medical staffs and volunteers from Japan, more than 4,500 volunteers have participated in theactivities, and more than 200,000 treatments have been conducted in developing countries.

Japan Heart’s activities
There are four areas where medical care is difficult to reach.
One is foreign countries suffering from poverty and shortage of doctors.
One is remote areas and islands in Japan.
One is the hearts of children who fight diseases. One is the areas affected by a large-scale disaster.
Japan Heart is working to deliver medical care to these four areas.

Our support for Japan Heart
Agree with the activities of Mr. Yoshioka and Japan Heart, support the volunteers byoffering GLOBAL WiFi
for free,and donating part ofour sales.

Copyright(C) 2020 VISION INC. All Rights Reserved.

Governance System

Independent officer system
Directors Total number: 6(including independent outside directors: 3 / Male: 5, Female: 1)⇒ Business owners, and possess rich experience in web marketing,inbound business, and the financial industry/global business.
Audit & Supervisory Board Members Total number: 4(Independent outside auditors: 4)⇒ CPA, prosecutor/lawyer, and business owners.

Strengthen information security
ISMS certification
Certified under the the international standard for information security management system(ISMS), ISO/IES 27001.
Establish and operate the Information
Security Committee.

Compliance, risk management, internal control activities
Conduct regular training.
49

APPENDIX

Copyright(C) 2020 VISION INC. All Rights Reserved.

50

Group Structure
Number of operation bases

Number of affiliated companies

Airport counter (directly operated)
Overseas
Domestic

Overseas
Domestic

12
12

12

12

3

3

2016

2017

7

8

2018

2019

Number of employees (Full-time)
Female
649
Male
586
205
497
174
452
146
127

12

12

12

12

2016

2017

351

2016

2017

412

2018

12

12

16

15

2018

2019

Personnel classification

452
32
194

325

18

14

10

Profession
Clerical
Sales

15

649
497
41
191

586
72

200

444

2019

84
228

226

265

314

337

2016

2017

2018

2019

Copyright(C) 2020 VISION INC. All Rights Reserved.

Performance Data
Sales

31,39627,31821,503
17,554
14,843
12,485
10,185
9,203(JPYmn, %)Gross profit

18,256Gross profit
Gross profit margin

15,69012,6505,198 5,651
56.5

FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020

55.5

6,909

10,160
8,622
58.1

57.9

58.8

55.3

FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020(Forecast)(Forecast)

SG&A expenses
SG&A expenses

5,188 5,365
56.4 52.7

6,105

7,332

Operating profit
14,25312,365

SG&A-to-sales ratio

58.1

57.4

Operating profit

4,003

Operating profit margin

3,325

10,165
8,372

2,484
1,788

804
48.9 49.4 47.7 47.3

45.3 45.4

FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020

10

286

12.2 12.8
1,290 10.2 11.6
8.7

6.4

2.8
0.1

FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020(Forecast)
Copyright(C) 2020 VISION INC. All Rights Reserved.

(Forecast)“GLOBAL WiFi” Business

Customer Attributes(Corporate/Individual)
4Q FY2019 *Fiscal period(Oct.-Dec.) Result
Rental number

AmountCorporate
Individual

39.5%

4Q FY2018 *Fiscal period(Oct.-Dec.) Result

49.2%

50.8%

60.5%

Rental number

Corporate
Individual

Corporate
Individual

Amount36.5%

Corporate
Individual

45.7%
54.3%

63.5%

* It is the ratio of overseas use (outbound: Japan ⇒ overseas).
Copyright(C) 2020 VISION INC. All Rights Reserved.

“GLOBAL WiFi” Business

Customer Attributes(Corporate/Individual)
FY2019 *Cumulative period(Jan.-Dec.) Result
Rental number

AmountCorporate
Individual

36.9%

Corporate
Individual

45.8%

63.1%

54.2%

FY2018 *Cumulative period(Jan.-Dec.) Result

Rental number

AmountCorporate
Individual

37.4%

Corporate
Individual

46.4%
53.6%

62.6%

* It is the ratio of overseas use (outbound: Japan ⇒ overseas).
Copyright(C) 2020 VISION INC. All Rights Reserved.

“GLOBAL WiFi” Business

Customer Attributes(New/Repeat)
4Q FY2019 *Fiscal period(Oct.-Dec.) Result
Rental number

AmountRepeatNew

41.7%

Repeat
New

43.6%
56.4%

58.3%

4Q FY2018 *Fiscal period(Oct.-Dec.) Result

Rental number

AmountRepeatNew

Repeat
New

45.0%

46.3%
55.0%

53.7%

* It is the ratio of overseas use (outbound: Japan ⇒ overseas).
Copyright(C) 2020 VISION INC. All Rights Reserved.

“GLOBAL WiFi” Business

Customer Attributes(New/Repeat)
FY2019 *Cumulative period(Jan.-Dec.) Result
Rental number

AmountRepeatNew

Repeat
New

46.4%

44.7%
55.3%

53.6%

FY2018 *Cumulative period(Jan.-Dec.) Result

Rental number

AmountRepeatNew

Repeat
New

45.6%

46.4%
53.6%

54.4%

* It is the ratio of overseas use (outbound: Japan ⇒ overseas).
Copyright(C) 2020 VISION INC. All Rights Reserved.

“GLOBAL WiFi” Business

Customer Attributes(Gender/Age/Past Cumulative Total)
6.7%

Age

1.4%

6.4%

Gender/Corporate or individual

1.1%

17.4%

13.9%
8.9%

7.3%

14.7%

43.7%

11.4%
13.2%

10.6%

31.6%

11.8%

Under 18
45-49

19-24
50-54

2.2%

25-29
55-59

30-34
Over 60

Age (Male)

9.1%

35-39
Unknown

Individual / Female
Corporate / Female

40-44

0.6%

0.7%

11.2%

7.9%
9.7%

12.7%
13.0%

5.5%

19.4%

18.1%
10.6%

12.4%

19-24
50-54

1.4%

8.9%

13.3%

Under 18
45-49

Age (Female)

4.4%

8.2%
7.3%
9.9%

Individual / Male
Corporate / Male

25-29
55-59

30-34
Over 60

35-39
Unknown

Copyright(C) 2020 VISION INC. All Rights Reserved.

40-44

Under 18

19-24

25-29

13.7%

30-34

35-39

45-49
50-54
55-59
Over 60
Unknown* It is the ratio of overseas use (outbound: Japan ⇒ overseas).

40-44

Stock Split(Resolved by the Board of Directors’ Meeting on August 9, 2019)* Excerpt from “Notice of Stock Split” on Aug. 9, 2019

PurposeThe stock split will be conducted with the aim of creating an environment in which investors can easily
invest, expanding its investor base, and increasing the liquidity of the Company’s stock by reducing theprice of share-trading units.

Overview
Method of stock split

The stock split shall have a record date of Monday, September 30, 2019and shall involve the splitting of common stocks held by shareholders
whose names are recorded in the latest Registry of Shareholders on therecord date at a ratio of 1:3.

Number of increase inshares by stock split

Total number of issued shares before stock split: 16,341,000 shares
Number of increase in shares by stock split: 32,682,000 shares
Total number of issued shares after stock split: 49,023,000 shares
Total number of authorized shares after stock split: 123,000,000 shares

Schedule of stock split

Public notice date of the record date: Friday, September 13, 2019
Record date: Monday, September 30, 2019
Effective date: Tuesday, October 1, 2019

Shareholder benefits
Substantial expansion ofshareholder benefit

The changes will be applied from the shareholders whose names arerecorded in the Registry of Shareholders as of December 31, 2019. Afterthe stock split, we will present a “shareholder benefit coupon” according
to the same number of shares as the standard before the split.

OthersChanges in capital

The stock split will not result in changes in capital.
Copyright(C) 2020 VISION INC. All Rights Reserved.

Overview of Stock Options with Charge Issuance(Resolved by the Board of Directors’ Meeting on November 13, 2017)* Excerpt from “Determination of Details of Issuance of Stock Acquisition Rights” on Nov. 30, 2017

Item

Details

Name

Vision Inc. Third Series Stock Acquisition Rights

Number of issues

13,560 units

Issue price

JPY1,600 per stock acquisition right

Total issue price

JPY3,510,684,000

TargetDirectors (excluding outside directors), employees, employees of the subsidiaries
163 people 13,560 units

Conditions for the
exercise of the stockacquisition rights

If the operating profit for any fiscal year from FY2018 to FY2021 falls
below JPY1.6bn, the subsequent stock acquisition rights cannot be
exercised, except for the stock acquisition rights that are already
exercisable.

※ See the table below(100 shares per stock acquisition right, 1,356,000 shares of common stock)

Operating profit in any fiscal year from
FY2018 to FY2021 exceeds JPY3.6bn• Exercisable ratio：100％

Operating profit in FY2020 exceeds
JPY3.1bn• Exercisable ratio：30％

Operating profit in FY2018 exceeds
JPY2.1bn and operating profit in
FY2019 exceeds JPY2.6bn• Exercisable ratio：30％

Copyright(C) 2020 VISION INC. All Rights Reserved.

Business Summary

Copyright(C) 2020 VISION INC. All Rights Reserved.

60

VISION INC.
Code

9416

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

Incorporated

Domestic Affiliated Companies： 7

December 4, 2001

Domestic Operation Bases： 15(Founded June 1, 1995)

Management
Philosophy

Head Office

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

Number ofConsolidated
Employees

795 (146)
Domestic: 704 (135)Global: 91 (11)(Average temporary
employees)(As of December 31, 2019)

AffiliatedCompanies

Domestic: 7
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.
RaPid Corp.
Vision Ad Inc.
ProDrivers Inc.

GLOBAL WIFI.UK LTD

Global WiFi France SAS
Vision Mobile Italia S.r.I.

(As of December 31, 2019)

Business

Domestic Airport Counter： 18

Contributing to the Information andCommunications Revolution

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)

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History and Evolution of Sales
Changed the market to the 1st Section of
the Tokyo Stock Exchange in Dec. 2016
Listed with “Mothers” of the Tokyo
Stock Exchange in Dec. 2015

Started GLOBAL
WiFi business2015

Started e-ca
(domestic) Wi-Fi
router rental
business

2012
Established Best Link Inc.
and Members Net Inc.

Started broadband
subscription

2010
2008

Started company
cellphone business

2007
2006

2005
2004
Started Internet
advertising business

Founded
1995

2016

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

Irregular
perioddue tochangesin fiscal
year-end

Copyright(C) 2020 VISION INC. All Rights Reserved.

Our Core Strategies
Niche & Focus
strategy

Price & Quality
leadership strategy

Up/Cross selling
strategy

Discover the challenges
born in the niches of theevolution in information andcommunications, anddevelop new markets.
Focus management
resources on carefully
selected targets, andrefine our services.

Production efficiency isthoroughly pursued.
Realized by improving
organizational structure andbusiness speed.
While maintaining highquality of service,
demonstrate pricecompetitiveness surpassing
competitors.

Pick up new needs for
information andcommunications services andcontinuously offer services
at reasonable prices at theright time.
Build a long-term
relationship withcustomers.

 Overseas travelers
 Startup companies

 Productivity, priceadvantage
 Service quality evaluation
Copyright(C) 2020 VISION INC. All Rights Reserved.

 Original CRM
 Stock businessTwo Business Segments“GLOBAL WiFi” Business
Offer anytime, anywhere, safe, secureand comfortable mobile Internet
environment all over the world.
Rental service.
Connectable with multiple users and multiple
devices (companion, smartphone, laptop, etc.).

Information and Communications
Service Business
Offer 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

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WebsiteSupportSecurity

ElectricPower

Cloud App
Service(SaaS)

Contributing to the Information and Communications Revolution

Copyright(C) 2020 VISION INC. All Rights Reserved.

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： ir@vision-net.co.jp

Copyright(C) 2020 VISION INC. All Rights Reserved.