Tokyo Stock Exchange 1st Section: Securities Code 3992

Needs Well Inc.

Financial Results
for the First Quarter of Fiscal Year 2021
(October 1, 2020 – December 31, 2020)
February 8, 2021

1. 2021/9 1Q Financial report summary

2. 2021/9 Results forecast

3. Growth strategy

4. Reference

FY2021/9 1Q Financial Results21.1) Financial highlights
Sales decreased year on year due to the negative impact of
COVID-19, but profit increased year on year due to efforts toimprove productivity(Unit: million JPY)

Net sales(Unit: million JPY) Ordinary profit

1450

130

1400

120

1,418

1350

1,348

1300

-4.9%
YoY

1250

130
+40.1%
YoY

110

130

120
110

92

90

1200

80

80

1150

70

70

1100

60

60

1050

50

50

1000

40

40

FY20/9 1Q FY21/9 1Q

FY2021/9 1Q Financial Results

Net profit

100

100
90

(Unit: million JPY)

FY20/9 1Q FY21/9 1Q

89+50.0%YoY59

FY20/9 1Q FY21/9 1Q

3

1.2) Performance progression rate
Progression rate/1Q performance (FY21/9 target)(Unit: million JPY)

Net sales[Breakdown of net sales]

23.2% 1,348 (5,800)

Business Systems SI

23.1% 1,051 (4,559)

Infrastructure Services

23.4% 143 (614)Connected Systems

28.5% 51 (180)

Solutions/Products, etc.

23.0% 102 (445)

Operating profit

25.3% 136 (537)

Ordinary profit

24.3% 130 (537)

Net profit

24.2% 89 (370)

FY2021/9 1Q Financial Results

Despite the negative impact of the spreadof COVID-19, sales fortelecommunications remained strong due
to demand for revisions of price plans formobile phones.
Aim to expand sales through newcollaboration with two companies in thelogistics industry.
Development continued at a stable pace
due to coordination between Business
Systems SI and Solutions/Products, etc.,
for total orders.
Development continued at a stable pacedespite the negative impact of the spreadof COVID-19 on orders for the
manufacturing industry.

Expanded solution lineup.
Solutions for RPA management/control
and Speed EA and Invoice PA, solutions
for the Concur series, etc., remained
strong.
Newly launched provision of IT reengineering services.

41.3) Ordinary profit analysis
Ordinary profit increased 40.1% year on year as a decline in sales
was covered by improved productivity and cost reductions
Gross profit increase
due to improved
productivity

130+40.1%

92

Decrease due to expenses
involved in improving
performance

YoY

Increase owing to temporary costs recorded due
to special factors in FY20/9 1Q (relocating head
office, opening Nagasaki Development Center,etc.) not being required in FY21/9 1Q

FY20/9 1Q
Ordinary profit
FY2021/9 1Q Financial Results■ Increase ■ Decrease Unit: million JPY

FY21/9 1Q
Ordinary profit
51.4) Profit & loss statement
Ordinary profit ratio remained at a high level of 9.7%
（Up 3.1 pts year-on-year)
FY2020/9 1Q Financial Results

Unit: million JPY
Net sales

Result1,418

FY2021/9 1Q Financial Results

Net sales-

Result
1,348

Net sales

Year-on-year
95.1%

Business Systems SI

※

※

1,051

77.9%

※

Infrastructure Services

※

※

143

10.7%

※

Connected Systems

※

※

51

3.8%

※

Solutions/Products, etc.

※

※

102

7.6%

※

Gross profit

302

21.3%

331

24.6%

109.7%

SG&A expenses

209

14.8%

195

14.5%

93.3%

Temporary cost (investment)

24

1.8%

0

0.0%

0.0%

Others

184

13.0%

195

14.5%

105.9%

92

6.6%

136

10.1%

146.5%

Non-operating profit

0

0.0%

0

0.0%

4359.1%Non-operating expenses

0

0.0%

6

0.5%

41206168.8%

Ordinary profit

92

6.6%

130

9.7%

140.1%Net profit

59

4.2%

89

6.6%

150.0%

Operating profit* From the fiscal year 2021/9, Needs Well reorganized all service lines and launched the development of “Connected Systems” tostrengthen our connected technology. As such, year-on-year comparisons for each service line are not available and therefore
have not been included.
FY2021/9 1Q Financial Results

61.5) Balance sheet*Selection of significant entries only
Unit: million JPY

FY2020/9

FY2021/9 1Q

ResultResultYear-on-year

Continued stable financial position

1,780

1,751

-28

Accounts receivable

689

747

57

Prepaid expenses

34

49

15

Total current assets

2,553

2,590

37

Software

58

58

0

Investment securities

83

86

2

Deferred tax assets

97

55

-41

Leasehold and guarantee deposits

85

85

0

Insurance funds

76

76

0

Current
assets,Total non-current assets

444

410

-34

2,553

2,997

3,000

2

Accounts payable - trade

101

218

116

Accounts payable - other

137

178

40

Accrued consumption taxes

106

92

-13

Provision for bonuses

265

152

-112

765

763

-2

0

0

0

765

763

-2

Share capital

415

437

21

Legal capital surplus

271

293

21

1,521

1,474

-46

22

25

2

Total net assets

2,231

2,236

4

Total liabilities and net assets

2,997

3,000

2

AssetsCash and deposits

Total assets

Liabilities

Total current liabilities
Total non-current liabilities

Total liabilities

EquityRetained earnings brought forward
Valuation difference on available-forsale securities

FY2021/9 1Q Financial Results

Equity ratio at 74.5%
Assets

FY2020/9

Noncurrent
assets,444

Unit: million JPY

Current
assets,2,590

Noncurrent
assets,410

FY2021/9 1Q

Liabilities & Net Assets

Unit: million JPY

Current liabilities

Current liabilities

765

763

Net assets,
2,231

Net assets,
2,236

FY2020/9

FY2021/9 1Q

7

1. 2021/9 1Q Financial report summary

2. 2021/9 Results forecast

3. Growth strategy

4. Reference

FY2021/9 1Q Financial Results

82.1) Results forecast
Aim to increase sales and profits through newly launched Logistics
Business, strengthening solutions, etc.
* There has been no revision to the results forecast announced on November 12, 2020
Business Systems SI

Net sales
FY2021/9
forecast

Infrastructure Services

Connected Systems*

Solutions/Products, etc.

Total 5,800

614 (10.6%)

4,559 (78.6%)

180 (3.1%)
0
1,000
2,000
Unit: million JPY (against net sales composition ratio)

3,000

4,000

Up 8.1% YoY
445 (7.7%)

5,000

6,000

* From the fiscal year 2021/9, Needs Well reorganized all service lines and launched the development of “Connected Systems” tostrengthen our connected technology. As such, year-on-year comparisons for each service line are not available and therefore
have not been included.

Operatingprofit537 （Up 9.0%) Operating profit margin 9.3%
492

Ordinary
profit537 （Up 4.4%) Ordinary profit margin 9.3%
514

Net profit

370 （Up 6.5%) Net profit ratio 6.4%
347

0
Unit: million JPY （YoY)
FY2021/9 1Q Financial Results

100

200

300

400

FY2021/9 (forecast)
FY2020/9 (result)

500

600

9

2.2) Dividends and shareholder returns
Dividend per share: +1 JPY (YoY) increase forecast (FY2021/9 )* There has been no revision to the dividend forecast announced on November 12, 2020

Annual dividend forecast: 17.00 JPY/share

Dividend payout ratio forecast: 39.0%

Annual dividend per share (JPY)Dividend payout ratio (%)

18.00

16.00

16.00
14.00
12.00
10.00

12.50

12.50

30.6

32.2

13.50
39.0

17.00 JPY

45
40

39.0 %

32.8

35
30
25

8.00

20

6.00

15

4.00

10

2.00

5

0.00

0
FY2017/9

FY2018/9
FY2019/9
FY2020/9
Dividend (JPY)
Payout ratio (%)

FY2021/9 (forecast)* Needs Well conducted stock splits on May 12, 2017 at a ratio of 100 shares per share, on April 1, 2018 at a ratio of 2 shares per share, and on
January 1, 2019 at a ratio of 2 shares per share. Past annual dividends per share have been retrospectively adjusted based on these stock splits.
FY2021/9 1Q Financial Results101. 2021/9 1Q Financial report summary

2. 2021/9 Results forecast

3. Growth strategy

4. Reference

FY2021/9 1Q Financial Results

113.1) Management philosophy

Contributing Broadly to the Economy andSociety

FY2021/9 1Q Financial Results

123.2) Growth track
Oct 2020 Started Logistics, Connected Businesses
Net sales
Number of personnel

Aug 2019 Started AI Business
Jun 2019 Tokyo Stock Exchange 1st Section

Jun 2018 Tokyo Stock Exchange 2nd Section
Oct 2017 Started Solution BusinessSep 2017 JASDAQ-IPO
Apr 2013 Started developing Embedded Systems
Oct 2012 Started Infrastructure Services, transaction with leading
telecommunication carriersApr 2005 Started transaction with leading hotels
Apr 1998 Started transaction with leading
insurance companies

543

employees
by end of
FY2020Aug 1992 Started developing
Business System SI
EstablishedOct 1986
Started business consulting
FY2021/9 1Q Financial Results

Bankruptcy of Lehman
Brothers

COVID-19
Pandemic

FY2021/9 forecast
133.3) Medium-Term Basic Policy

Breaking away from the dispatch business,becoming a true system integrator

FY2021/9 1Q Financial Results

143.4) Our three strengths
Capacity for
financial systemdevelopment

Financial sector accounts for 50% of net sales inmain service line, Business Systems SI.
Particularly advanced in life insurance and accident
insurance sectors.
Strong performance record in developing systems
for banks, credit cards, and securities.

Proficiency indirect sales to
end users

High level of direct transactions with end
users such as life insurance companies,
leading hotels, telecommunications
carriers, etc., composing over 50% of
Proficiency insales.

direct sales to
end users

Ability toprovidesolutions

FY2021/9 1Q Financial Results

Capacity for
financialsystemdevelopment

Our
three
strengths

Ability toprovidesolutions

Provides solution services optimized foreach customer’s business objectives
through 5G, AI, RPA, remote work, etc.

153.5) 1 Performance targets
FY2023/9

10.0

Net
sales

1.0

Ordinary
profitbillion JPY

billion JPY

Billion JPY
10.0

CAGR (compound annual growth rate) 10.0

23.1

Billion JPY
1.0

%

0.5

0.0

0.0

2021

Existing businesses
FY2021/9 1Q Financial Results

24.8

%

5.0

2020

CAGR (compound annual growth rate) 1.0

2022
M&A

2023

2020

2021

2022

Existing businesses

2023

M&A
16

3.5) 2 Promotion policies: Sales growthMarket scale (our forecast)Logistics IoT software solutions market(WMS, etc.)2018

123.0 bil. JPY

66.7 bil. JPY

Smart cities market

2022

990.0 bil. JPY

2018

460.0 bil. JPY

AI’s major markets*

2023

64.0 bil. JPY

2018

19.6 bil. JPY

Logistics industry is facing a serious labor shortageas the selection of diversifying needs continues toincrease. There is urgent demand for immediate
investment in streamlining, improving quality, andreducing environmental burden through the use of
AI, IoT, etc.

Connected Business
Proceed to engage in connected technologies toenrich lives, such as smart cities which utilize IoT
and AI to make the entire neighborhood more
efficient and convenient, etc.

+1.2

+0.3
+0.9

FY2023/9

4.7

+2.3

M&A

* AI’s major markets: Image recognition, speech recognition, speech synthesis, language
analysis, search and retrieval, translation

billion JPY+
billion JPY

Demand for investment is high due to structuralreform for DX.
Introduce unique and differentiated products withintegration functions that utilize AI and RPA.

M&A

10.0

Sales growth

Solutions Business

Expand the scale of existing technologies andstrengthen/introduce new technologies. Focus
on logistics, connected functionality, AI, IoT, web,etc.

FY2021/9 1Q Financial Results

Unit: billion JPY

Existing businesses

2025

Logistics Business[Breakdown]• Existing
businesses• M&A

2.4 bil. JPY
2.3 bil. JPY

5.3

billion JPY
FY2020/9

173.6) Growth strategy
Promote improvement of corporate value

1

Launch Logistics & Connected Businesses

2

Focus
points6
7

FY2021/9 1Q Financial Results

3

Expand AI Business4

Expand nearshore development

5

Establish business foundation
Expand Solutions Business

Increase direct sales to end users

183.6)-1 Promote improvement of corporate value

Promote our management philosophy of“Contributing Broadly to the Economy and Society”
through improvement of the NeedsWell Value• Institutional investor• Individual investors• Media• Promotes CI, VI

IR

Capitalpolicy• Public offering• Issuing newshares• M&A

CI: Corporate Identity
VI: Visual Identity

Performance• Net sales growth rate 20%• Ordinary profit margin 10%• Gross profit margin 25%• SG&A expenses rate 10%• Net sales 10.0 billion JPY (FY2023/9)• Liquidity – market capitalization 10.0 billion JPY (FY2022/9)

FY2021/9 1Q Financial Results

Sustainability• ESG, SDGs
• Corporate
governance193.6)-2

Promotion policies: Sales growth, Logistics BusinessEntering the logistics sector, which is facing labor shortages as
the selection of diversifying needs continues to increase
Three companies collaborating tosave labor and improve efficiency for logistics warehouses
Logi-Revo Co., Ltd.
Office FA.com Co., Ltd.
Needs Well Inc.

: Consultation for logistics systems, logistics warehouse design: Logistics warehouse design, AGV/WCS/WMS development: Packaging WMS to provide logistics solutions

Collecting/utilizing information on shipping, inventories, delivery, etc. via

IoT

Warehouse

Product supplier

FY2021/9 1Q Financial Results

AGV(automated guided
vehicles)• WCS (warehouse control system)
for managing AGVs, etc.
• WMS (warehouse management system)
optimized for integration with WCS

Destination

203.6)-2

Promotion policies: Sales growth, Connected BusinessEntering the connected sector through data collection/utilization
Contribution to building smart cities throughautonomous driving and medical care

Examples of past development)

Examples of past development)• Image analysis programs for ultrasonicdevices (ultrasonic diagnostic equipment)• Programs that recognize objects and human bodies fromradar and sensor image data and control steering andbraking for autonomous driving• Programs for collecting large amounts ofanalytical data from blood, urine andother biological components, andproducing an image displaying the results
FY2021/9 1Q Financial Results• Programs to control devices that analyze radar and sensor
information at disaster sites, calculate optimal routes basedon comparisons with geographic information, andautomatically move vehicles
213.6)-3 Expand AI Business
Expand AI Business by expanding thelineup

AI Remote Education

Quantitative visualization of business talks with numerical values
and graphs.
AI comparison of information with top-performing models toprovide feedback on points needing improvement.
Utilizing know-how in integration for AI, AI-OCR, RPA, etc.

to propose solutions for overcoming the 2025 Digital Cliff

Promote DX in various industries
Public infrastructure

Distribution

Finance
Construction
FY2021/9 1Q Financial Results

Other industries

Telecommunications
Logistics

Manufacturing

223.6)-4 Expand nearshore development
Nagasaki Development Center aims to maintain
100 employees in FY2024/9
Utilize nearshore bases to acquire highly competentpersonnel and provide solutions for labor shortages
Personnel acquisition• Recruiting and training highly competentengineers who seek local employment

Recruiting from local universities
Recruiting U-turn and I-turn personnel
Nearshore utilization• Expand nearshore development system by
accepting orders for out-of-office projects• Promote transition from dispatch andresidential styles while standardizingnearshore development
FY2021/9 1Q Financial Results

233.6)-5 Establish business foundation
Establishing a business foundation for stabledevelopment into the future as a listed company
Business Systems SI• Expand into the financial sector byaccumulating business knowledge andtraining highly-skilled engineers• New development into the logistics sector

Infrastructure Services• Coordinate with Business Systems SI for
total orders

Connected Systems• Strengthen connected technology inaddition to specialization in
automobiles and medical equipment
FY2021/9 1Q Financial Results▶▶▶ Service line composition

Service lines that establish
the business foundation
Business Systems
SI
Infrastructure
Services
Connected Systems+
Service line that accelerates
business expansion andincreases added value
Solutions/Products,
etc.
243.6)-6 Expand Solutions Business
Expanding the Solutions Business to accelerate businessexpansion and increase added value
Expansion strategy
Net sales composition ratio
Aim to increase net
sales to 15%

plus• Add Needs Well’s unique functions for
AI, RPA, etc. to solutions provided byother companies

+

Well

• Enhance lineup with IT re-engineering service, etc.
• Start subscription sales of(unauthorized access prevention solution)

5.6%
FY2020/9
results

FY2021/9 1Q Financial Results

15.0%
FY2023/9
target• Package WMS (warehouse management system)
developed by the Logistics Business for horizontal
expansion as a solution for the logistics industry• Continuous research and development to quickly
incorporate future-oriented and cutting-edge
technologies based on client needs and market trends
253.6)-7 Increase direct sales to end users
Stabilize orders and improve profitability,
maintain and expand end user direct sales ratio to over 50%
Maintain and expand existing users• Secure repeat customers• Train highly skilled engineers and expand thescope of expertise sectors• Cultivate new sectors of expertise

Cultivate new users• Horizontal expansion by introducing Needs Well’sdevelopment results and business know-how to
new companies that are similar to existing users

End user composition ratio

60%
55%

2020

FutureExpand Solutions Business
・Focus on Solution Business with a high ratio of sales to end users
FY2021/9 1Q Financial Results

263.7) 1 Initiatives directly linked to business
Aim for sustainable management through business strategies thatincorporate the perspectives of SDGｓ, ESG, and CSR
Nearshore Development Promotion: Nagasaki Development Center tomaintain 100 employees by 2024
Promote development by committing to QCD (quality, cost, and delivery) through remote development
system that utilizes nearshore bases.
Aim to maintain 100 employees at the Nagasaki Development Center by 2024 and contribute toprosperous urban development through the development of an industrial foundation, technologicalinnovation, and creating employment opportunities by utilizing highly competent local human resources.

Development of new solutions to assist DX
Assist client companies in realizing and promoting DX to overcome the "2025 Digital Cliff" by building
platforms using AI technology, providing systems, analyzing data, saving labor through RPA integration,
etc.
Contribute to building the industrial foundation of a digital society.

Collaboration with partner companies
Promote partnerships with contractors and suppliers and aim to establish a structure for continuing todevelop together over a long period of time.
In March 2020, Needs Well entered into a core partner agreement with Meiji Yasuda Life Insurance
Company and Meiji Yasuda System Technology Limited for the purpose of building a strong future
partnership and maintaining long-term development engineers.

FY2021/9 1Q Financial Results

273.7) 2 Initiatives supported by systems and activities
Work style reform & personnel development• Incentive dates for paid leave, Premium Friday, overtime target of 20 hours• Expand selection of employees eligible for remote work
• System for encouraging skill improvement and motivation

Increase ratio of female employees and managers

Target female manager ratio: 30%, target female employee ratio: 30%

AI education for students

Arrange AI programming experiences and 5 days/3 weeks internships for students
Conduct programming classes on apps for submitting electronic applications and creatinginteractive AI chatbots (2020)

Donate to assistance programs for repaying student loans

Contribute to projects by Nagasaki Prefecture for assisting young adults in the repayment of
their student loans
Develop leaders who will establish themselves and play central roles in the local community

Support for V-Varen Nagasaki of the Soccer J League

Concluded a sponsorship agreement to support the promotion of sports culture andrevitalization of the local community
Please view the following link for other initiatives and more information:
https://www.needswell.com/ir/sdgs
FY2021/9 1Q Financial Results28

1. 2021/9 1Q Financial report summary

2. 2021/9 Results forecast

3. Growth strategy

4. Reference

FY2021/9 1Q Financial Results

29Company profile※ As of September 30, 2020
Company Name

Needs Well Inc

Head Office

13F, New Otani Garden Court, 4-1 Kioi-cho, Chiyoda-ku, Tokyo, 102-0094 Japan

Office- Shinjuku Office : 5F, South Tower, 13-15 Tomihisa-cho, Shinjuku-ku, Tokyo, 162-0067 Japan- Nagasaki Office: 5F, Meijiyasudaseimei Nagasakikozenmachi building, 2-21 Kozen-machi,
Nagasaki-shi, Nagasaki, 850-0032 Japan

Contact

TEL: +81-3-6265-6763 FAX: +81-3-6265-6764 URL: https://www.needswell.com

Representative

President and CEO

Established

October 1, 1986

Stock Listing

Tokyo Stock Exchange, 1st Section (3992)

Paid-in Capital *415 million JPY

Net sales *5,364 million JPY

Number of Employees *543

Qualification

Worker dispatch businessPrivacy mark

Board of Directors *President and CEO
Kozo Funatsu
Senior Managing Director Nobumasa Goto
Executive Director
Takeshi Tsukada
Director
Hiromi Kimura

Audit & Supervisory
Board Member Kazuhiko Kato
Audit & Supervisory
Board Member Kotaro Niwa

E

I

Director
Director
Director
Director

Audit & Supervisory
Board Member Mamoru Yasuoka

E

I

Kozo Funatsu

ISO27001 (ISMS) Certified
ISO9001 (QMS) Certified

Keiho Akiyama
Kazuhiro Shinohara
Hiroki Yanagawa
E
Hideaki Sakaue
E

I
I

E ：External officer
I ：Independent officer
FY2021/9 1Q Financial Results

30

Business fields
Needs Well provides total IT services through four services focused on
Business Systems SI for finance.
Solutions
Business

FinanceBusiness
Systems SI

Information security

Logistics

Operational efficiency

Distribution/service

AI

Social infrastructure

Telecommunications
Web

IT platforms

Infrastructure
Services

Automobiles/medical devices/IoT

Connected Systems
FY2021/9 1Q Financial Results

31

Business system diagram
Clients

Direct transaction*

End user

Systemintegrator

Manufacturer

Needs Well

Business
Systems SI

Subcontractor/supplier

Infrastructure
Services

Partnercompany

Connected
Systems

Supplier

Solutions/
Products,
etc.

Order
Provision of services/products, etc.

* High level of direct transactions with end users (approx. 55% of all sales)
FY2021/9 1Q Financial Results

32

Business results ①
Net sales

2016

2017

Operating profit

Unit : million yen

2018

2019

2020

2021

１Q

121

110

92

136

2,809

２Q

255

266

267

387

354

375

337

443

476

508

492

2018

2019

2020

2021

１Q

1,217

1,341

1,418

1,348

２Q

2,470

2,724

2016

３Q

3,801

3,739

4,097

4,078

３Q

total 4,586

5,063

5,140

5,517

5,364

total

Ordinary profit

2016

2019

2020

2021

１Q

82

76

59

89

267

２Q

174

185

179

370

339

３Q

248

236

255

231

505

514

total

287

325

347

347

2020

2021

１Q

121

110

92

130

２Q

255

266

382

343

426

467

405

FY2021/9 1Q Financial Results

2016

256

2017

Unit : million yen

2018

2019

total

ProfitUnit : million yen

2018

３Q

2017

408

2017

Unit : million yen

33

Business results ②
Profit per share

2016

2017

ROE

unit：Yen

2018

2019

2020

2021

１Q

9.88

9.04

7.04

10.52

２Q

20.85

22.02

21.19

２Q

35.51

28.18

30.22

27.30

３Q

total 36.74

40.81

38.78

41.15

40.99

total

Total assets

2016

2017

2017

2018

2019

2020

36.7

24.8

20.2

18.8

16.5

2019

2020

2021

１Q

2,220

2,478

2,692

3,000

２Q

2,507

2,764

2021

* This index is updated every year

Net assets

Unit：million Yen

2018

2016

2019

2020

2021

１Q

1,480

1,697

1,918

2,236

2,771

２Q

1,573

1,809

2,040

1,042

1,635

1,878

2,105

1,496

1,725

1,973

2,231

2,062

2,772

2,629

2,956

３Q

total 1,661

2,438

2,697

2,688

2,997

total

820

2017

Unit：million Yen

2018

３Q

FY2021/9 1Q Financial Results

2016
１Q

３Q

* Figures are after sprit adjusted as of May 12, 2017 ratio of 100 shares per share, as of Apr 1,
2018 ratio of 2 shares per share, as of Jan 1, 2019 ratio of 2 shares per share.

unit：%

34

Business results ③
Capital adequacy ratio

2016

2016

2017

2018

2019

unit：Yen

2020

2018

2019

2020

2021

１Q

66.7

68.5

71.3

74.5

２Q

62.8

65.4

73.6

２Q

50.5

59.0

71.4

71.2

３Q

61.4

64.0

73.4

74.5

total 117.21 179.63 204.99 232.63 262.41

３Q
total

49.3

2017

Net assets per share

unit：%

2021

１Q* Figures are after sprit adjusted as of May 12, 2017 ratio of 100 shares per share, as of Apr 1,
2018 ratio of 2 shares per share, as of Jan 1, 2019 ratio of 2 shares per share.

* 2Q is total of 1Q and 2Q* 3Q is total of 1Q to 3Q* This index is updated every year

stock price：yen

1100

Stock chart■volumevolume：shares■closing price

600,000

1000

500,000

900

400,000

800

300,000

700

200,000

600

100,000

500

400

2020/1/6

FY2021/9 1Q Financial Results

2020/2/6

2020/3/6

2020/4/6

2020/5/6

2020/6/6

2020/7/6

2020/8/6

2020/9/6

2020/10/6

2020/11/6

2020/12/6

035

• All statements described herein have been prepared by Needs Well based on the currently available
information.
• Actual results may differ from forecasts due to various factors in the future.

Corporate Communication Divisione-mail: ir-contact@needswell.com