December 9, 2022

Company Name: HEROZ, Inc.
Name of Representatives:
Takahiro Hayashi,
Co-Chief Executive Officer:
Stock Code: 4382, TSE Prime Market
Contact: Hiroya Mori,
Chief Financial Officer(Telephone: +81-3-6435-2495)

Notice: This document is an excerpt translation of the original Japanese document and is only for reference
purposes. In the event of any discrepancy between this translated document and the original Japanese document,
the latter shall prevail.

Notice of Revision of Consolidated Earnings Forecasts for the Fiscal Year Ending April 30, 2023
and Recording of Extraordinary Loss

HEROZ, Inc. (the “Company”) hereby announces the following revisions to its consolidated earnings forecast
for the fiscal year ending April 30, 2023, which was disclosed on September 9, 2022, as well as the posting of an
extraordinary loss for the second quarter of the fiscal year ending April 30, 2023.

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1. Revision of consolidated earnings forecast for the fiscal year ending April 30, 2023
(May 1, 2022 - April 30, 2023)
OperatingOrdinary

Profit attributable

Profit perProfit

Profitto owners of parentshare

Million yen

Million yenMillion yen

Million yenyen

3,100――――

2,900

250

200-590-39.26

-200―

―――

-6.5%

―

――

―

1,482

34

87

49

3.29

Net Sales
Forecast
announced on
Sept.9 (A)Revised forecast
announced at thistime (B)Increase/Decrease(B – A)
Percentage
increase/decrease(%)(Reference)
Full year endedApril. 30, 2022

*Figures for the full year of the fiscal year ended April 30, 2022, are based on non-consolidated results.

2. Reason for revision
With regard to the consolidated earnings forecast for the fiscal year ending April 30, 2023, we had previously stated"under scrutiny" as the forecast figures for operating income, ordinary income, profit attributable to owners of parentand profit per share were under scrutiny due to the transition to consolidated accounting, but we have now calculated
them based on information available at this point in time and disclose them. The Company has also revised its
forecast for net sales from the previously announced forecast.

Net sales figures have been revised from the previously disclosed figures due to the change in the accounting periodof consolidated subsidiary StrategIT from 6 months to 5 months following the change in the fiscal year end of
StrategIT, and the expected increase in internal transactions due to mutual support of engineers in pursuit of groupsynergies, as described in "Significant Subsequent Events" in the "Financial Report for the Second Quarter of theFiscal Year Ending April 2023," disclosed today.
In addition, due to the extraordinary loss described in section 3 below, the net loss attributable to owners of theparent company is expected to be 590 million yen.

23. Recording of Extraordinary Losses
In connection with the conversion of VarioSecure Inc. from an equity-method affiliate to a consolidated
subsidiary, the Company recorded an extraordinary loss of 541 million yen related to the step acquisition in its
financial statements for the second quarter of the fiscal year ending April 2023.
This is a one-time expense, as the Company acquired the shares of VarioSecure Inc. in September 2021 andrevalued the shares based on the current market share price when consolidating the company at this time.

Forecasts of business performance are based on information currently available to the Company. Forecasts are
subject to various uncertainties, and actual results may differ from these forecasts. We will review our earnings
forecasts from time to time and disclose them in accordance with the disclosure rules.

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