February 4, 2015
For Immediate Release:

MTI Ltd.
Toshihiro Maeta,President and Chief Executive Officer(Listing: Tokyo Stock exchange(JASDAQ) [9438]
Contact: Hiroshi Matsumoto, Director
Tel: +81-3-5333-6323

Notice of Revision of Consolidated Results Forecast and Dividend Forecast
MTI Ltd. announces that it has revised its consolidated results forecasts and dividend forecasts for thefirst half and the full year of the fiscal year ending September 30, 2015 announced in the Consolidated
Financial Results for the Year Ended September 30, 2014 published on November 5, 2014. Details are asfollows.

1. Revision of consolidated results forecast
For the first half of the fiscal year (from October 1, 2014 to March 31, 2015)
OperatingOrdinary
Sales
Net incomer
incomeincome

Net income
per share

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Yen

Forecast previously announced (A)16,0001,300

1,280660

13.11

Forecast revised this time (B)16,700

2,000

1,960

1,040

20.65

Change(B-A)+700+700+680+380

Rate of change (%)(Reference)
Results for the first half of theprevious fiscal year(First half of FY2014/9)+4.4%+53.8%+53.1%+57.6%

15,2791,304

1,310790

31.49

Net incomer

Net income
per share

For the full year (from October 1, 2014 to September 30, 2015)
Operating
Ordinary
Sales
incomeincomeMillions of yen

Millions of yen

Millions of yen

Millions of yen

Yen

Forecast previously announced (A)32,500

3,050

3,000

1,600

31.77

Forecast revised this time (B)34,000

4,200

4,120

2,270

45.07

Change(B-A)+1,500+1,150+1,120+670

Rate of change (%)(Reference)
Results for the first half of theprevious fiscal year(First half of FY2014/9)+4.6%+37.7%+37.3%+41.9%

30,985

2,557

2,519

1,337

53.26

(Note) As announced in the Notice of Share Split and Partial Revision of the Articles of Incorporation published today, theCompany plans to conduct a two-for-one share split for its common shares with April 1, 2015 as the effective date. Netincome per share is calculated on the assumption that the share split was conducted at the beginning of the fiscal year1

ending September 30, 2015. In the forecast previously announced and the forecast revised this time, net income per sharein the event of not assuming the share split would be 26.21 yen and 41.29 yen respectively for the first half of the current
fiscal year and 63.54 yen and 90.13 yen respectively for the full year of the current fiscal year.

［Reasons for the revision］
In consolidated results for the first quarter of the current fiscal year, operating income, ordinary income
and net income exceeded the values forecast for the first half of the current fiscal year.
Taking advantage of sales channels to promote sales of content to customers at cellphone shops acrossJapan, we were able to expand the number of paying subscribers on smartphones of our own content andbolster sales commissions for content from other companies steadily.
With respect to sales of the unmetered plan with flat-rate monthly charges for cellphone carriers, an
upward trend at a higher pace than expected continues, benefitting from the large amount of our own
content used daily and the success of our measures to guide users to our own content, with the change ofthe sales calculation method at cellphone carriers as a start.
In addition, average revenue per user (ARPU) was not only boosted by the commencement of music.jp:
Music and Book Shop (a fixed rate of 400 yen per month excluding tax), services integrating music,
electronic books and comics, in September 2014, but also increased in other services.
The withdrawal rate was also on a downward trend thanks to our provision of meticulous support tocellphone shops originating from sales offices across Japan, and this resulted in the launch of effective
advertising expenses and contributed to restraints on selling, general and administrative expenses throughvarious kinds of cost control.
As these developments are expected to continue for some time to come, results for the first half and thefull year of the current fiscal year have become likely to exceed our forecasts. Therefore, we have decided
to revise upward our results forecasts for the first half and the full year of the current fiscal year.
2. Revision of dividend forecast
Annual dividend
End of interim period
Previous forecast(Announced on
November 5, 2014)

Forecast revised this time
(Based on shares before
the share split this time)

Year end

Yen

Yen

Yen

8.0

10.0

18.0

Yen

Yen

Yen

10.0(10.0)

6.0(12.0)(22.0)(Note 1)

Actual results for the current
fiscal year
Actual results for theprevious fiscal year
(Based on shares after theshare split last time)(FY2014/9)

Annual(Note2)

Yen

Yen

Yen

10.0
(5.0)

12.0
(12.0)(17.0)(Note3)Note 1．The Company will conduct a two-for-one share split for its common shares with April 1, 2015 as the effective date. As
shares before the share split are subject to dividends at the end of the second quarter, the dividends will increase 2 yenfrom the previous forecast.
Note 2．The Company will conduct a two-for-one share split for its common shares with April 1, 2015 as the effective date. Asshares after the share split are subject to dividends at the end of the fiscal year, dividends per share decline but
substantively increases 2 yen from the previous forecast.
Note 3．The annual dividend forecast substantively increases 4 yen from the previous forecast.

［Reasons for the revision］
As described in the revision of the results forecasts above, since income is expected to increasesignificantly from the initial forecast, we have decided to revise upward our dividend forecast as well.
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As stated in the Notice of Share Split and Partial Revision of the Articles of Incorporation published today,
we plan to conduct a two-for-one share split for common shares with April 1, 2015 as the effective date.
<Points to consider concerning forecasts>
Results forecasts contained in this material are based on judgments, assumptions and convictions derived frominformation available to the Company at the time of the publishing of this material and may differ significantly from
actual results due to various factors such as future economic conditions in Japan and overseas, changes in thesituation of business operations in Japan and overseas, or uncertain elements and potential risks inherent inforecasts. Risks and uncertain elements also include unpredictable impacts, etc. arising from future events.

【Contact information for inquiries】
PR & IR Department(Futaki)
MTI Ltd.
Tel : 03-5333-6323 Fax : 03-3320-0189
E-mail： ir@mti.co.jp
URL： http://www.mti.co.jp

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