Septeni Business Report 2015
For the year ended September 30, 2015■■■■■■■■■■■■TOP INTERVIEW

With our focus on our distinctive growthareas producing results, we achieved record
income for the fourth consecutive year.
We continue to aim for sustainable andrapid growth.
——What is your view on the recent businessenvironment?
We outperformed the competition in termsof growth by promptly responding to therapid globalization of the market.
In the Internet industry, our main business area, themarket size is expanding steadily and globalization
is proceeding rapidly. These trends are noticeable,
especially in the field of smartphones. The domestic
smartphone market is mature, and smartphones areused in increasingly sophisticated ways. Meanwhile,
overseas, especially in emerging countries, the useof mobile devices to access the Internet will become
more popular. In this environment, increasing numbersof companies are providing Internet services globally.
Services in multiple countries and the advertising andmarketing initiatives associated with them are nolonger unusual.
The Septeni Group has achieved solid results inthe domestic market by rapidly shifting its businessresources to smartphone advertising, which has been
growing, and by becoming involved in global social
media platforms early and accumulating sophisticatedexpertise. In addition, the Group has built a crossSEPTENI HOLDINGS CO.,LTD.
President and Representative Director

Koki Satoborder transaction system of Internet advertisingamong Japan, Asia, Europe, and the United States.
Thanks to this system, the Group has seized business
opportunities associated with the globalization of

1

Septeni Business Report 2015■■ ■■■■■■■■■■

the Internet industry. In the fiscal year under review,Operating income rose significantly, and as a result,sales overseas, primarily in North America, expanded

operating margin stood at 6.0%, improving for theto 13.8% of consolidated net sales. Overseas sales are

fourth consecutive year. Operations are increasingly

becoming an important growth driver of the Group.

high-growth and profitable.

——What were the initiatives you took andbusiness results you recorded in FY9/15
under review?
In our mainstay Internet Marketing Business,the operating margin improved for the
fourth consecutive fiscal year as the key
businesses became more profitable.

In the Mobile domain, sales of smartphone advertising
increased by around 1.7 times year on year, to 38.6
billion yen, which accounted for approximately 63% of
total sales in the domain. As demand for smartphone
advertising is expanding, products are becoming more
and more diversified. Results in the domain were driven
especially by native advertising (in-feed advertising), at
which the Group excels. Market share increased.

Consolidated results were driven by the Internet

In the Social Media Business, sales rose by a factor

Marketing Business. Net sales stood at 64.5 billion yen,of about 2.1 from the previous fiscal year, to 11.2

and operating income was 2.75 billion yen. All indicators

billion yen, reflecting an acceleration in growth inwere at record highs for the fourth consecutive year.

Twitter advertising as well as the mainstay Facebook

In the mainstay Internet Marketing Business, growthadvertising.

in sales accelerated and productivity improved as highIn the Global business, overseas sales increased by agrowth continued in our key businesses: Mobile, Social

factor of about 2.2, to 8.8 billion yen, mainly because of

and Global.

an increase in billings in our North American operation

Mobile BusinessSocial Business■ ■ Smartphone Advertising Sales Trend (unit:¥mn)■ ■ Social Media Business Sales Trend (unit:¥mn)(Aggregate of sales in Facebook, Twitter, and LINE)

62.8%
11,233
Share of Internet
Marketing Business

38,661

47.9%

23,101
5,419
27.1%
10,6901,859

2013/92014/92015/92013/92014/92015/9Septeni Business Report 20152

■■■■■■■■■■■■TOP INTERVIEW

and the inclusion of our subsidiary in South Korea incumulative number of downloads expanded to 2

the scope of consolidation. Overseas sales accounted

million. We believe that we can anticipate further

for 14.4% of sales in the Internet Marketing Business,growth. Meanwhile, we are commercializing our own

indicating further progress in globalization.

intellectual property (IP). By November, one TV anime

We will put more emphasis on the three growing

work and ten books were released. In the fiscal year

business fields—Mobile, Social, and Global—to expand

under review, losses associated with those upfront

market share and improve profitability.

investments in new businesses, primarily in the Manga

In the Media Content Business, we arerefining the focus and will make the Mobile
Game Business a non-core business.

Content Business, expanded by a factor of about 1.6
year on year, to 511 million yen. In the Manga Content
Business, we aim to expand the size of our platform
and make a profit.

Two native application game titles were released.

To optimize our business portfolio, in November

While the sales of KINGDOM –Eiyuno keifu– remained

2015, we decided to change the position of the Mobile

strong, other titles struggled, resulting in a decrease inGame Business (Axel Mark) to a non-core businessboth the net sales and operating income of Axel Mark.

from the fiscal year ending September 30, 2016. We

In the Manga Content Business, we made aggressive

have decided that we need to increase the degree of

upfront investments in both cultivating Manga artists

independence and freedom in the management of Axeland expanding GANMA!, an online distribution

Mark, so that the Company and Axel Mark can maximize

platform. In October 2015, the number of monthly

their corporate value in response to changes in thepage views reached 470 million. In November, thebusiness environment. On November 9, the Company
sold part of its holding of Axel Mark shares, and theratio of voting rights it held has been reduced to lessthan 50%. On December 16, interlocking directorates

Global Businesswere abolished. As a result, Axel Mark has ceased to■ ■ Overseas sales Trend (unit: ¥mn)

be a subsidiary of the Company but remains within thescope of consolidation under the International Financial
14.4%
8,883

Share of Internet
Marketing Business

Reporting Standards (IFRS).

——Could you describe progress in the
Midterm Business Policies and the future
direction of the policies?

8.5%

We will achieve sustainable growth in themedium to long term, and at the same time,

4,086

will make investments for the future, taking
into consideration our future after wedouble profits.

1.4%

The concept of the Midterm Business Policies that we

546
2013/93

Septeni Business Report 20152014/92015/9announced in November 2013 is to “Double Profits.”

■■ ■■■■■■■■■■

We aim to increase our corporate value by raising
the ratio of profitable businesses and building a new
operational pillar second to advertising. Two years after
the announcement of the Midterm Business Policies,
we believe that we have increased competitivenesssteadily in our three areas of focus—Mobile, Social andGlobal—and have begun to take the lead in growthmarkets. We aim to “Double Profits” in the next fiscal
year.
We are performing well. We feel that we haveentered a period to consider the next steps. We believethat after doubling profits, it will be the time to focus
on building a system to achieve sustainable growth.
Sustainable growth in the medium to long term andinvestment in future primary businesses sometimes
conflict. However, we believe that we should pursue
them both simultaneously. We will do our best to
pursue them in our management. We hope that we——Finally, what is your message forshareholders?
Dividends were increased for the third
consecutive year in the year ended September
2015.
We seek further growth through proactive
investments in growth areas.

can rely on your continued understanding and support.

With respect to profit distribution to shareholders,

We need excellent human resources to achieve

we have set roughly 15% of the consolidated net

sustainable growth. In the category of companies withincome as a benchmark. Given a significant increase in

100 to 999 employees of 2015 Great Place to Work

net income, we have decided to distribute a dividend(Japanese version) by the Great Place to Work® Instituteper share of 14 yen, up 5 yen from a year ago, for theJapan, the Septeni Group was ranked fourth (it was

fiscal year under review. We have raised dividends forranked eighth last year). Under the Group’s mission

the third consecutive year. Our basic policy continues“Energizing the world with the entrepreneurship of

to be appropriate profit distribution based on businesseach individual,” we will continue to promote diversity,

performance, while paying attention to maintaining

primarily by supporting women’s participation andstable dividends.

improving work-life balance, and will seek to establish

We will seek sustainable and dramatic growtha flat and appealing organization that enables all

by attaining the goal of “Doubling profits” first in

members worldwide to fully express their talent.

the Midterm Business Policies and making proactive
investments in growth areas at the same time. We
look forward to your continued support for the Septeni
Group.

Septeni Business Report 20154■■■■■■■■■■■■

Profile of the Group

Human resources with a good sense of ownership and a strong entrepreneurial
spirit are the Group’s biggest asset.
Under the mission below, as a company, we will achieve sustainable growth byproactively investing in entrepreneurial human resources.

MissionGrowth Cycle
Cultivate human
02 resources

Invest in human
01 resources
Invest inentrepreneurial
human resources
and theenvironment fordeveloping humanresources

Energizing the world
with the entrepreneurshipof each individual

Chiefly cultivate
entrepreneurs
and business
managers (called
Akindo) withoriginal expertiseand systems

Operate03 business

Recoup04 investment

Wellcultivatedhuman resources
develop and foster
businesses andservices

Increase corporate
revenues frombusinesses andservices

Midterm Business Policies
In November 2013, we announced the Midterm Business Policies.
Since the announcement, growth has been accelerating.
In the fiscal year ending September 30, 2016, we will work to “Double Profits.”■ ■ Concept■ ■ Business Focus“Double profits”
MobileInternet
MarketingBusiness

Increase the share ofhighly profitablebusinesses

5

Septeni Business Report 2015

mainstaybusinesssecondtoadvertising

Create a mainstay
business second toadvertisingSocialGlobal■■ ■■■■■■■■■■In the fiscal year under review, we launched a number of initiatives under our
mission and Midterm Business Policies.

MissionOctober 2014
Pharmarket, Inc. started
the intermediate
distribution of ethicaldrugs.

October 2014
Social contribution
platform operator
gooddo, Inc. wasestablished.

April 2015〜
The Manga Content
Business has beenpromoting theMainstaycommercialization ofbusinesssecond toadvertising the Company’s own intellectual
property, including books.
Internet
MarketingBusiness

February 2015
In the Great Place to Work (Japanese version)
rankings (the category of companies with 100 to
999 employees), theSepteni Group was
fourth.

September 2015
PYXIS for Instagram using
Instagram Ads API was
launched.

mainstaybusinesssecondtoadvertising

MobileSeptember 2015
Septeni formed an alliancewith Fukurou Labo, inc. as
strategic partners and began
to provide a “deep link” service for smartphone
applications.

SocialGlobal

FY2015
Overseas sales
expanded toaccount for
13.8% of sales atthe entire Group.

13.8%

The business achieved sustainable growth, with Group companies actively
taking on challenges.
SEPTENI CO.,LTD.

Septeni Original,Inc.

Internet ad agency / Providing assistancefor overall promotions on internet

Plannnig and development of web
service

Tricorn Corporation

Septeni America, Inc.

CRM service business

Internet marketing business for North
America region

COMICSMART,Inc.

ViViVit,Inc.

Manga Content Business

Platform business of matchingrecruitment

SEPTENI VENTURES Co., Ltd.
New business development

etc...

Septeni Business Report 20156■■■■■■■■■■■■

Segment Information

Internet Marketing Business
Points forunderstanding
business
performance

Operations were expanded, andat the same time profitability
was increased.

■ ■ Summary・High growth in the key businesses of “Mobile,” “Social,”and “Global” continued to drive growth in net sales.
・Operating income rose sharply thanks to increased
productivity, driving up the operating margin for the fourthconsecutive year to 6.0%.

Main content of business:
General all-embracing marketing support services using the■ ■ Mobile

・Net sales from Smartphone Advertising grew approximatelyInternet

1.7 times year on year to ¥38.6 billion, with the sharereached approximately 63%.
・An increased market share was driven by the native

Net Sales(units: ¥mn)

Operating Income (units: ¥mn)advertising segment.

■ ■ Social

61,56361,563
3,686
3,686

48,271
48,271

・Net sales rose approximately 2.1 times year on year to¥11.2 billion.

・In addition to Facebook advertising as the core segment,
2,740
2,740

accelerated expansion of Twitter advertising contributed to
the growth.

■ ■ Global・Overseas sales increased approximately 2.2 times year on
year to ¥8.8 billion, with the share of overseas sales rising
to approximately 14%.
・The volume of businesses in North America increased, and2014/92014/92015/92015/9AdvertisingSales

2014/92014/92015/92015/9Internet Marketing Business
Advertising Agency Sales
Web Solutions

Clients
Solution
Provision●Website creation, operations●Creative●SEO●Social media creation,

a Korean subsidiary was newly consolidated.

Advertising
Purchases

Internet
Media
11：45

Advertising
Distribution,
Display●●●●●●●●Shop

Campaign Implementation,
Operation, Effectiveness Measurement

operations
etc...

In-House Services

Service
Provision●Cloud based CRM Systems●Advertising platforms●Effectiveness measurement●Internet media

etc...

7

Septeni Business Report 2015

Information DispatchUsers■■ ■■■■■■■■■■■ ■ Mobile Game BusinessMedia Content Business
Points forunderstanding
business
performance

・Two native application game titles were released.

Aggressive upfront investments
were made.

・While the sales of KINGDOM –Eiyuno keifu– remained
strong, other titles struggled, resulting in a decrease in boththe net sales and operating income of Axel Mark.

■ ■ Manga Content Business

Main content of business:
Provision of digital content centering on games for smartphones,・The distribution platform is steadily growing larger.

the cultivation and production of Manga artists for the purpose

・Latest total number of downloads is over 2 million and theof planning and developing our own intellectual property (IP) andthe operation of the Manga distribution service, etc.

number of monthly page views has reached 470 million.
・The company is promoting the commercialization of its
own intellectual property. One anime work (Million Doll)

Net Sales(units: ¥mn)

Operating Income (units: ¥mn)

and three books are released during the fiscal year.
・Loss on prior investment in new businesses, primarily in the
Manga Content Business, increased approximately 1.6

3,458
3,458

times year on year to ¥511 million.
3,278
3,278

△277
△277
△528
△528

2014/92014/92015/92015/9Copyright
Owner

2014/92014/92015/92015/9Media Content Business
Sourcing

Content Business

Mobile Game Business●Music●E-Books●Streaming●Social Games●Native

SNS
Application
MarketCommunications
Distribution
Provision
Carriers

Users

Applications

Video●FortuneTellingetc...

Manga Artists
Cultivation

Manga Content Business●Management

ProvidingWorksof Manga
Artists●MangaDistribution
Service

Distribution※Mobile Game Business and Content Business have been changed into Non-Core Business since FY9/16.

Septeni Business Report 20158■■■■■■■■■■■■

FOCUS

Manga Content Business〜We want to get children to aspire to be manga artists.
The Manga content business
operates the cultivation andproduction of Manga artists andthe Manga distribution service,with the aim of planning anddeveloping our own IP centeringon Manga content.
We will continue to makeproactive upfront investments incultivating Manga artists andexpanding the platform to create
excellent Manga works born fromthe Internet and monetize them as

A service to distributenew serial Mangaworks online

GANMA!

This service enables users to read as
many new original Manga works as
they like free of charge.
In November 2015, a total of 57
serialized works are distributed.

a business.

Total number of downloads:
over 2 million (7 November, 2015)
The number of monthly page views :GANMA! AD started
The distribution of advertisingin GANMA! started in the fiscal
year under review.
The advertising distribution
service, GANMA! AD, distributes
native advertising, including ads
using pictures like Manga
displayed on the entire screen of
the smartphone.
We expect that the advertising
distribution service will generatesynergy between the Group’s
mainstay Internet Marketing
Business and the Manga Content
Business, which is intended to
become a new operational pillar.

9

Septeni Business Report 2015

470 million (Octber, 2015)（ten thousand DL）
200（million PV）
500

DL
PV

400

150

300
100
200
50

100

広告

0

2015/1

2015/4

2015/7

2015/100

■■ ■■■■■■■■■■

The company is promoting the commercializationof its own intellectual property.
From April to December, 2015, a total of 12 titles werereleased as books.
Many other titles are planned to be released.

The Company’s own
intellectual property
has been used andcommercialized in otherforms than books:
Animations

Musashikunn to
Murayamasann hatukiattemita

LICHT

Otometetsugaku© Ai/COMICSMARTINC./"milliondoll" Committee

Goods

Events

Septeni Business Report 201510

■■■■■■■■■■■■

Financial Highlights■ ■ Consolidated Income Statement Overview (units: ¥mn)
●All indicators were at record highs for the fourth consecutive year.

Consolidated results were driven by the strong performance of the Internet Marketing Business, which offset the
expansion of upfront investments in the Manga Content Business.
●ROE increased significantly, reflecting a rise in operating income and an extraordinary gain associated with the sale of

the DM business.

2014/9Item

2015/9Rate of change

Net sales

54,34564,547+18.8%

Operating Income

2,259

2,753

+21.9%

Ordinary Income

2,362

3,118

+32.0%Net Income

1,549

2,398

+54.8%

ROE

18.5%

23.4%

+4.9ptNet Sales(units: ¥mn)

Operating Income
Operating margin■ Operating Income(units: ¥mn)(units: %)Operating margin

64,547Net Income(units: ¥mn)
Net margin margin (units: %)■ Net Income

Net margin margin

2,398

2,753

54,3452,259

45,982

1,549

41,358
1,527

3.7

1,593

1,207
4.2

4.3

3.5

677

3.7
2.6

2.9

1.6

12/09

13/09

14/09

15/09

12/09

■ Assets

13/09

14/09

Septeni Business Report 2015
17.2

18.5

12/09

■ EPS

■ Net assets

13/09

14/09

15/09

■ dividend per share

92.87

25,387

23.4

11

15/09

14.0

21,625

61.22
47.90

■■ ■■■■■■■■■■■ ■ Overview of Consolidated Balance Sheets (units: ¥mn)
●Assets: Increased ¥3,762 million from the end of the previous term, due to increases in cash and deposits and notes andaccounts receivable-trade, etc.
●Liabilities: Increased ¥1,679 million from the end of the previous term, due to increases in accounts payable trade andShort-term loans payable, etc.
●Net assets: Increased ¥2,082 million from the end of the previous term due to an increase in retained earnings associatedwith the posting of net income, etc.

AssetsLiabilities
Total

Total

21,625

Cash and deposits

9,293
8,199

Property,
41,358plantand equipment
Intangible assets

897

Investments andother assets

12/09

Current
assetsCurrent
assets

22,48618,115208

Total

12,196

Current2,753
liabilities
2,259
Non-current

liabilities

Non-current
assetsNon-current
assets

2,901

3,510

Previous Term

Current Term

352

Property, plantand equipment

1,593

1,527
248

Shareholders’equity9,0004.3

Intangible assets

341
3.7

4.2

3.5

14/09

ROE

15/09

(units: %)

996

13/09

14/09

AssetsNet assets

(units: ¥mn)(units: ¥mn)

11,20012,286

10,203
677

2.6

3.7

Minority interests

2.9

Current Term

961

12/09

13/09

14/09

EPS
dividend per share

15/09(units: ¥)(units: ¥)■ dividend per share

92.87

14.0
61.22
47.90

16,023

12,286
10,203

7,246

15/09

Shareholders’equity1,207

Net assets

Net assets

21,625

18.5

14/09

160
1,549

■ EPS

■ Net assets

10.9

13/09

Non-current
liabilities

25,387

14,362

12/09

11,422Previous Term

15/09

23.4

17.2

12,941

13,101

Liabilities

1.6
September 30,(Ended September 30, (Ended
2015)
2014)

12/09

■ Assets

2,398

Current liabilities

Liabilities

Minority interests

Investments andother assets(Ended September 30, (Ended September 30, 2,310
2014)
2015)

13/09

21,625

11,069

9,822

Total

25,387Net margin margin■ Net Income

Operating margin

Notes and accounts
receivable-trade54,34545,982■ Operating Income

Cash and deposits

64,547

Notes and accounts
receivable-trade

2,405

25,387

12/09

13/09

14/09

7.0
26.91

8,380

15/09

9.0

5.0

12/09

13/09

14/09

15/09

※ The Company implemented a 200-for-1
stock split for its common stock on October
1, 2013. The figures here are calculated on
the assumption that the stock split was
implemented at the beginning of 2012/9.

Septeni Business Report 201512■■■■■■■■■■■■

Changes in the fiscal year ending September 30, 2016

Improve business selection and concentration
Change the Mobile Game Business (Axel Mark) to a non-core business◆

The Company sold part of its holding of Axel Mark shares on November 9, 2015, and as a result, the ratio of voting rightsof the Company has been reduced to less than 50%.

◆

All of the Directors holding multiple positions resigned at Axel Mark’s 23rd ordinary general meeting of shareholders, which
held on December 16.

◆

Axel Mark ceases to be a subsidiary of the Company but remains within the scope of consolidation under the IFRS.

Business Segments in FY ended Sept. 2015

Business Segments and Policy for FY ending Sept. 2016

Internet Marketing Business

Increase market shares and improve profitability with key businessfocused on “Mobile”, “Social” and “Global.”Internet Marketing BusinessMedia Content BusinessMedia Content Business

Manga Content Business

Aim to expand the platform and become profitability in the Manga
Content Business.

Other new businesses
Non-core Business

Mobile Game Business (Axel Mark)

Increase Axel Mark’s independence and support flexible management.

Adoption of the IFRS ～Aiming to achieve rapid growth as a global company
From the first quarter of the fiscal year ending September 30, 2016, the Septeni Group is applying the International Financial
Reporting Standards (IFRS).

What will change by IFRS?

1 Revenue will change.

2 The treatment of goodwill will change.

How to record earnings (Top Line)Net sales(Japanese standards)

Revenue(IFRS)

While straight-line amortization was applied to goodwill basedon the Japanese standards, goodwill is not amortized on IFRS
but requires an impairment test every year. This creates an
impairment risk.

3 Non-GAAP operating income will beAdvertisingpurchases

disclosed voluntarily.
Non-GAAP operating income is a profit indicator of constantMarginMarginbusiness performance determined by adjusting temporary
factors, such as an impairment loss and gain or loss on the salesof fixed assets from the IFRS-based operating income.

The conventional recording of the total amount (gross) will bechanged to recording of net amounts in the sale by advertising
agents, which comprises a large part of the Internet Marketing
Business.

13

Septeni Business Report 2015■■ ■■■■■■■■■■■■■

Corporate Profile / Stock Information

Corporate Profile

Ownership Structure updated on September 30, 2015

Trade Name

Number of shares authorized

74,016,000units

Number of shares issued

27,700,700units

Number of shareholders

2,983

SEPTENI HOLDINGS CO.,LTD.

Headquarters Sumitomo Fudosan Shinjuku Grand Tower,
8-17-1 Nishishinjuku, Shinjuku-ku, Tokyo

Major Stockholders
Tel+81-03-6863-5623
Fax +81-03-6863-5624

Business
Overview

Corporate management and overall controlof group companies through ownership ofshares and other forms of equity.

Foundation

October 1990

Major shareholders

Share
Numberof shares holding

Trust & Custody Services Bank, Ltd.
(Securities Investment Trust Account)

4,251,300

16.40%

Village seven Co.,Ltd.

3,343,800

12.90%

Mamoru Nanamura

3,190,100

12.31%The Master Trust Bank of Japan ,Ltd.
(Trust Account)

2,183,900

8.43%

Officers As of December 18, 2015

Yahoo Japan Corporation

1,400,000

5.40%

The President andKoki Sato (front row, center)
Representative Director

Trust & Custody Services Bank, Ltd.
(Securities Investment Trust Account)

1,111,800

4.29%

Senior Managing
Director

Isamu Ueno (front row, left)

GOLDMAN SACHS INTERNATIONAL

804,132

3.10%

Managing Director

Kazumi Shimizu (front row, right)

Director

Tadahiro Matsuda(back row, second from right)

Japan Trustee Services Bank, Ltd.
(Trust Account 9)505,600

1.95%

Director

Shintaro Karaki(back row, second from left)

MSCO CUSTOMER SECURITIES

481,500

1.86%

Director

Kana Setoguchi (back row, center)

Hiroshi Shimizu

440,000

1.70%

External Director

Tatsuya Kimura (back row, right)

External Director

Etsuko Okajima (back row, left)

Internal Auditor

Muneyoshi Nomura

External Auditor

Katsuhisa Yanagi

External Auditor

Yoshihide Hirowatari

External Auditor

Mamoru Furushima

CapitalNo.of
Employees

2,070 million yen
846 permanent staff
1002 employees(Note)	Excluding our major stockholders above, our company reserve1,784,600 unitsof stock in our treasury.
The above shareholding ratios exclude treasury stock.

Breakdown by the Number of Holdings Shares
Treasury Stock
6.44%

Individuals·Other
25.70%

Domestic
Corporations
17.24%

Securities Firms
0.40%

Foreign Investors
18.04%

Financial Institutions
32.18%

Septeni Business Report 201514

Our Creed“Hinerankai”in Kansai dialect means,“Rack your brain and be creative”

MissionEnergizing the world with the entrepreneurshipof each individual
VisionTo create a strong and great company
Our 7 Commitments for Success (The Septeni Way)

Speed

As a united team, we are dedicated to serving and responding to our customers needs withno delay and being quick in decision-making without jeopardizing the end results. Our

training will assist us in taking full advantage of business opportunities surrounding us whileproviding our customers with satisfying services and support.

StretchWe always pursue a higher goal. Since we can not reach the goal we are aiming for by

doing the same thing as in the past, we have been achieving growth through continuous
innovation and changes.

PartnershipAll employees perform their duties with managerial responsibilities regardless ofmanagement or employee.

Fair&OpenOur company creates an environment where employees are fairly rewarded for theircontributions based on a system of full disclosure.

Originality

What does it take to be passionate in our work? What does it take for us to become andmaintain ourselves as pioneers in what we do? What does it take to be fruitful? We believe
it's all about being original.

PassionOur company has the strong will and passion to win the race and contribute to the team's
growth and productivity, no matter how tough the challenge is.

Free&Rule

In order to become a strong and great company, one needs both solid rules and thefreedom to act under those rules. Our company has made freedom within rules a part ofour corporate culture.

SEPTENI HOLDINGS CO., LTD.
https://www.septeni-holdings.co.jp/en/■ R esults forecasts and other forward-looking statements containedin this report were prepared based on information available at thetime of the report was prepared, and actual results may differ fromprojected figures due to various factors in the future.
■ T he company names and service names in this report are theirtrademark or registered trademark.