Financial Results for theFiscal Year Ended Dec. 31, 2014
English translation from the original Japanese-language document

Market Section: Mothers
Code: 3452

INDEXI. Overview of Results for the Fiscal Year
Ended Dec. 31, 2014
II. B-lot’s Business Outlook for theFiscal Year Ending Dec. 31, 2015

b-lot Co., Ltd. All rights reserved. 2

Operating Performance of FY Ended Dec. 31, 2014 – Highlights 1
Achieved strong earnings growth, especially in investment & development business
Revenue

Ordinary income

Net income（￥million）（￥million）（￥million）

4,000

400

200

3,7093,000

176
295

300

150

2,230

104

2,000

182

200

100

1,338
1,000

10000
2012/12.

2013/12.

2014/12.

Revenue¥3,709million(up 63.3% yr/yr)

7850

410
2012/12.

2013/12.

2014/12.

Ordinary income¥295million(up 61.7% yr/yr)

2012/12.

2013/12.

2014/12.

Net income¥176million(up 69.4% yr/yr)
b-lot Co., Ltd. All rights reserved. 3

Overview of Segment Earnings (Consolidated)
Achieved strong earnings growth in all segments（¥million）

Segment

2013/12

2014/12changeyr/yr %Revenue

2,230

3,709

1,478

66.3%

1. Real estate investment business

1,896

3,236

1,339

70.6%

2. Real estate consulting business

145

197

5135.1%

3. Real estate management business

1882758746.5%

Operating Profit

21737816073.8%

1. Real estate investment business

310464154

49.6%

2. Real estate consulting business

5778

2136.8%

3. Real estate management business

4588

4294.0%

Corporate expenses, etc-196-253

-57

29.3%

Ordinary income

182

295

112

61.7%

Profit for the period

104

176

7269.4%b-lot Co., Ltd. All rights reserved. 4

Operating Performance of FY Ended Dec. 31, 2014 – Highlights 2FY Ended Dec. 31, 2014

Finances have strengthened
Book value per share ＆ Earnings per share

Net assets ＆ Total assets

１株当たり純資産額
Book value per share（¥million）

純資産額
Net assets

1,200

1,200

5,000

1,000

1,000

4,000

800

3,000

600

6,000

総資産額
Total assets

１株当たり当期純利益⾦額
Earnings per share

5,268

2,542
977

800

200

600

150

93.34

893

100

575
200

449

1,000

250

206.9

400

1,160

300

243.55400

2,000（¥million）

50

307

200
00259

2012/12.

2013/12.

2014/12.

00
2012/12.

2013/12.

2014/12.

Increases in properties in stock and in capitalfrom the listing contributed to significant
growth in both net and total assets.

Although our shares were listed, earnings
per share enjoyed steady growth.
※The figures in the graph above are calculated as if a 300-for-1 stock split had
been conducted at the beginning of 2012.
b-lot Co., Ltd. All rights reserved. 5

P/L Statement (JPY)（¥million）

2013/12Amountof Change

2014/12

Changeyr/yr %

2,725 107.2％

Total assets

2,542

5,268

Current assets

2,302

5,014

Fixed assets

239

254

2,711 117.7％
5.9％
14Tangible fixedassets
Intangible fixedassets

5651△5 △8.9％

158

157△0.7 △0.4％

Investment & other

2545

2,093

4,290

Current liabilities

1,007

Ta3,085

2,078

206.4％

Fixed liabilities

1,086

1,204

118

10.9％

Net asset

449

977

Equity

417

977

559

134.0％

Warrants

31－

△31－

2,542

5,268

Liabilities

Total

1979.3％■Assets and liabilities double.
・Increase in inventory properties instock including WIP boosted total
assets.
・Increase in capital from thepublic offering and stock options
contributed to remarkable growthin net assets.

2,197 104.9％

528 117.6％■Total assets
現⾦及び預⾦Cash and deposits

16% 19%

販売⽤不動産（仕掛含）
Inventory properties
その他
Other assets

65%

2,725 107.2％
b-lot Co., Ltd. All rights reserved. 6

Segment 1: Real Estate Investment & Development Business
Balance of Properties for Sale

Segment Profit up 49% yr/yr(¥ million)

2013/12 2014/12

yr/yr %

1,896

3,236

70.6%

310

464

49.6%

Revenue
Segment Profit(¥ million)
3,500

仕掛販売⽤不動産
Work in progress(WIP)

3,404

販売⽤不動産Inventory properties

3,000

2,500

Revenue by area
2,807

2,000

Both sales and acquisitions ofproperties delivered strong results.
1,500

28%

・Sold out 16 properties fromthe initial inventory in FY201448%

・Acquired 18 inventory
properties in FY2014

24%（sold 6 by the end of FY2014）

Kanto
関東圏

Hokkaido
北海道圏

Kyushu
九州圏

その他

Area
Area

Area

Other area

399

1,000

1,292
500

556
30
011059621

2010/12. 2011/12. 2012/12. 2013/12. 2014/12.
b-lot Co., Ltd. All rights reserved. 7

Segment 1: Real Estate Investment & Development Business

FY2014 Topics
1.Begin thedevelopment business.

2. Expand the businessarea.

>Sold first property in ourdevelopment project inTokyo.

> Sold the firstproperty in ourdevelopment projectin Fukuoka.

> The second project isunderway in central
Fukuoka.

3. Expand the Revitalization business
Renovate the officebuilding, into acompact hotel.

BeforeAfter (Image)

Opened in January
2015
b-lot Co., Ltd. All rights reserved. 8

Segment 2: Real Estate Consulting Business
Segment Profit up 36% yr/yr

FY2014 topics(¥ million)

2013/12

2014/12yr/yr %

145

197

35.1%

Revenue

57

Segment Profit

78

36.8%

Revenue by area
1%

40%

Kanto

関東圏
Area
九州圏
KyushuArea

2%

Respond to demand fordiversified investment inlocal areas.

57%

Hokkaido
北海道圏Area
その他
Other area

・ Investment in Hokkaido byclients from Tokyo remainedstrong.
・Increase in inquiries frommany repeat clients.

1. Diversify income
opportunities
Start a development
consulting business inKansai.
Start a real estate
brokerage business inFukuoka.

2. Brokerage contracts forlarge-scale projects rose.
Sold properties over 10billion
yen, to repeat clients.

Strictly
Confidential

Contracted with several investors
in Southeast Asia.

b-lot Co., Ltd. All rights reserved. 9

Segment 3: Real Estate Management Business
Segment profit up 94% yr/yr

FY2014 topics(¥ million)

2013/12

2014/12

Changeyr/yr %

Revenue

188275

46.5%

Segment Profit

4588

94.0%

Strictly
Confidential

Buildings under management by area

1. Large-scale asset
management project・Arranged a large-scale
investment in buildings inTokyo for our partner inKorea.

140・ Managing the firstbuilding in Kansai.
83020

12 ・ ＋8 buildings in 2014

101502011

2012

関東圏
Kanto

2013

北海道圏
Hokkaido

Total 36 buildings

2014

九州圏
Kyushu関⻄圏Kansai

2. Expand synergistic
projects.
・The acquisition of properties indevelopment projects made agood contribution.
Increased leasing income.
・Inquiries for project
management services fromconsulting business increased.
b-lot Co., Ltd. All rights reserved. 10

INDEXI. Overview of Results for the Fiscal Year
Ended Dec. 31, 2014
II. B-lot’s Business Outlook for theFiscal Year Ending Dec. 31, 2015

b-lot Co., Ltd. All rights reserved. 11

Forecast for FY 2015
Forecast for net income of FY 2015 up 41.8％ yr/yr ¥250 million(¥ million)

2012/122013/12

2014/122015/12（prediction）

yr/yr change

Revenue

1,338

2,230

3,709

5,401

1,692

（yr/yr）－66.7%

66.3%45.6%－

Operating
Profit84

217378509131（yr/yr）－

157.0%

73.8%

34.7%

－Ordinary
income78182

295430135（yr/yr）－

133.4%

61.7%

45.8%

－Net income

41104

176

25073（yr/yr）－

149.5%

69.4%

41.8%

－b-lot Co., Ltd. All rights reserved. 12

Forecast for Fiscal Year 2015 Business Strategy
Simultaneously Pursuing “Growth” and ”Stability”◆Real Estate Investment and Development Business・Success in Tsukiji hotel revitalization project → Expanding revitalization plans・Success in condominium development project→ Expanding the development businessGrowthGrowth◆Real Estate Consulting Business・Increasing purchase support projects for reducing inheritance tax
・Increasing purchase support projects for overseas investors

GrowthGrowth◆Real Estate Management Business・Expanding investment in real estate for long-term retention
・Expanding the asset management businessStability
GrowthStability◆For all businesses

Stability
・Enhancing financial health・Strengthening the compliance system and expanding human resources Stability
b-lot Co., Ltd. All rights reserved. 13

Key Measures for the Fiscal Year Ending Dec. 31 2015
Expand the Asset Management Business

Establish a real estate investment companyas a 100% subsidiary
PurposeTo shift existing real estate asset management operations to a wholly owned subsidiary of B-lot,with the goal of expanding the business and improving transparency.

Profile of Subsidiary(1) Company name: B-lot Asset Management Company Limited(2) Location: 2-19-10 Shimbashi, Minato-ku Tokyo, 105-0004 Japan(3) Executive: President Toshihiko Uchida (Executive of B-lot)(4) Details of business: Real estate asset management business(5) Capital: JPY20 million(6) Date of establishment: Feb. 20, 2015
(7) Capital structure: B-lot holds 100% of sharesb-lot Co., Ltd. All rights reserved. 14

B-LOT Company ProfileAddress

8F Shimbashi Marine Building, 2-19-10, Shimbashi, Minato-ku,
Tokyo 1050004 Japan

Date of Incorporation
CapitalOctober 10, 2008
JPY404.7million (as of March 2015)

Management

President and Representative Director, Makoto Miyauchi
Deputy President and Director, Shinichi Hasegawa
Deputy President and Director, Masahiro Mochizuki
Auditing Director, Yasuhiro Okamoto
Auditing Director, Hiroki Tashiro (Consulting Lawyer)
Auditing Director, Fuminari Hako (Certified Public Accountant)

License/Registration

Real Estate Brokers License
Registration for Financial Instruments and Exchange Law- Investment Advisory and Agency Business- Second Financial Instrument Business

Branch Offices

Sapporo (Hokkaido) and Fukuoka
b-lot Co., Ltd. All rights reserved. 15

IR Department
TEL: +81-3-6891-2525
FAX: +81-3-6891-2522

DISCLAIMER
The forward looking statements, including earnings forecasts and business plans, contained in these materials are based on information currently available to the Company andon certain assumptions deemed to be reasonable. Due to various factors, actual business and other results may differ materially. Therefore, the statements contained herein do
not constitute assurances regarding actual results by the Company. The Company reserves the right to maintain or change its projections regardless of any new information,conditions or changes in performance. These materials are for informational purposes only, and should not be construed as a recommendation to invest in the Company.
b-lot Co., Ltd. All rights reserved. 16