Consolidated Financial Results for the Fiscal Year Ended December 31, 2018
[Japanese GAAP]

February 8, 2019
CompanyVision Inc.
Stock Listing
TSE
Stock Code9416
URL https://www.vision-net.co.jp/
Representative
Kenichi Sano, President, Founder & CEO
Contact
Shinichi Nakamoto, Director, Managing Executive Officer CFO
TEL +81-3-5325-0344
Scheduled date of general shareholders' meeting :March 26, 2019
－Scheduled starting date of dividend payment:
Scheduled date of submission of financial reports :March 27, 2019
Supplementary financial documents:
Yes
Financial results briefing:Yes (for institutional investors and analysts)(Round down to million yen)

1. Consolidated Financial Results for the Fiscal Year Ended December 31, 2018
(January 1, 2018 through December 31, 2018)(1) Consolidated Operating Results(% change from the previous corresponding period)
Net income attributable
Operating profit
Recurring profit
owners of parent

Sales
Million yen％

FY201821,503
FY2017
17,554(Note) Comprehensive profit ;

22.5
18.3

Net income
per share

Million yen％

Million yen％

2,484
38.9
2,499
39.3
1,788
38.6
1,795
38.3
FY2018: 1,496 million yen( 21.2%)FY2017: 1,234 million yen( 51.3%)

Million yen

1,529
1,208

26.5
48.5％

Diluted net
Recurring
Return on equity
income per shareprofit/Total assets

Yen

Yen％

Operatingprofit/Sales％％

FY201894.20
92.00
FY201774.30
72.62(Reference) Equity in net income (losses) of affiliates ;(Note)

16.7
20.0
11.6
15.2
16.8
10.2
FY2018:－ million yen
FY2017:－ million yen
The Company conducted 2-for-1 stock splits on July 1, 2017, based on the resolution of the Board ofDirectors held on May 16, 2017. Net income per share and diluted net income per share were calculated
based on the assumption that these stock splits were conducted at the beginning of the previous
consolidated fiscal year.

(2) Consolidated Financial Position
Total assets

Shareholder’s equity
ratio

Net assets

Million yen

Million yen

FY201813,552FY2017
11,483(Reference) Shareholders’ equity ;FY2018:FY2017:

9,803
8,586
9,781 million yen
8,564 million yen

Net assets per share％

Yen

72.2
74.6

602.84526.19(3) Consolidated Cash Flow Position
Cash flows fromoperating activities
FY2018FY2017Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash equivalents
at end of period

Million yen

Million yen

Million yen

Million yen

2,888
1,617

(1,457)(1,415)

(312)
(8)

7,563
6,452

2. Dividends
Annual dividend

FY2017FY2018FY2019 (Forecast)End of 1Q
Yen

End of 2Q
Yen－－－

0.00
0.00
0.00

End of 3Q
Year-end
Yen
Yen

0.00
0.00
0.00

－－－―1―

Total

Total
dividends(Annual)Dividend
Dividends/
payout ratio
Net assets(Consolidated) (Consolidated)

Yen

Million yen％％0.00
0.00
0.00

－－－－－－－

3. Forecast of Consolidated Financial Results for the Fiscal Year Ending December 2019
(January 1, 2019 through December 31, 2019)
Sales
Million

1Q-2Q FY2019
FY201911,61424,470Operating profit％ Million yen

17.8
13.8

1,437
3,012

(% change from the previous corresponding period)
Net income
Net income per
Recurring profit
attributableshareowners of parent％ Million yen

16.3
21.2

1,439
3,013

―2―％ Million yen

15.6
20.6

962
2,003％Yen

18.9
31.0

59.32
123.49

* Notes(1) Changes in significant subsidiaries during the period:(Changes in specified subsidiaries resulting in changes in scope of consolidation)

None(2) Changes in accounting policies, accounting estimates and restatement① Changes in accounting policies associated with revision of accounting standards :Yes② Changes in accounting policies other than ①:None③ Changes in accounting estimates:

None④ Restatement:

None(3) Shares issued (common stock)① Shares issued as of term-end (incl. Treasury stock)

FY201816,329,000

FY2017

16,278,000② Treasury stock as of term-end

FY2018102,848

FY2017756③ Average number of shares outstanding

FY201816,237,310

FY2017

16,268,888(Note)The Company conducted 2-for-1 stock splits on July 1, 2017, based on the resolution of the Board ofDirectors held on May 16, 2017. The number of shares issued was calculated based on the assumption thatthese stock splits were conducted at the beginning of the previous consolidated fiscal year.

1. Non-consolidated Financial Results for the Fiscal Year Ended December 31, 2018
(January 1, 2018 through December 31, 2018)(1) Non-consolidated Results of Operations
Sales
FY2018FY2017(% change from the previous corresponding period)

Operating profit

Recurring profit

Net income

Million yen％

Million yen％

Million yen％

Million yen％

20,373
16,635

22.5
20.5

2,203
1,477

49.1
40.6

2,244
1,522

47.4
37.5

1,403
1,031

36.1
45.8

Net income per share

Diluted net income
per share

Yen

Yen

FY201886.46
84.45
FY201763.40
61.97(Note) The Company conducted 2-for-1 stock splits on July 1, 2017, based on the resolution of the Board ofDirectors held on May 16, 2017. Net income per share and diluted net income per share were calculated
based on the assumption that these stock splits were conducted at the beginning of the previous fiscal year.

(2) Non-consolidated Financial Position
Total assets

Net assets

Million yen

FY2018
12,775FY2017
10,867(Reference) Shareholders’ equity ;FY2018:FY2017:

Shareholder’s equity
ratio

Million yen

9,120
8,017
9,099 million yen
7,996 million yen

Net assets per share％

Yen

71.2
73.6

560.76491.26* This report is not subject to audit procedures by certified public accountants or audit firm.
* Explanation for appropriate use of forecasts and other notes

The forward-looking statements such as operational forecasts contained in this statements summary are based
in information currently available to the Company and certain assumptions which are regarded as legitimate.
Actual results may differ from such forward-looking statements for a variety of reasons.

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