3rd Quarter FY2020

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Purchasing / Operation Base System Development Center (Offshore)
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Changed the market to the 1st Section of the Tokyo Stock Exchange in Dec. 2016 Listed with “Mothers” of the Tokyo Stock Exchange in Dec. 2015 2016 Started GLOBAL WiFi business 4
Niche & Focus strategy Discover the challenges born in the niches of the evolution in information and communications, and develop new markets. Focus management resources on carefully selected targets, and refine our services. Price & Quality leadership strategy Production efficiency is thoroughly pursued. Realized by improving organizational structure and business speed. While maintaining high quality of service, demonstrate price competitiveness surpassing competitors. Up/Cross selling strategy Pick up new needs for information and communications services and continuously offer services at reasonable prices at the right time. Build a long-term relationship with customers. ✓ Overseas travelers > Startup companies ✓  Productivity, price advantage ✓ Service quality evaluation > > Original CRM Stock business Business Summary

“GLOBAL WiFi” Business
Provide anytime, anywhere, safe, secure and comfortable mobile internet environment all over the world. Rental service. Connectable with multiple users and multiple devices (companion, smartphone, laptop, etc.).
Information and Communications
Service Business
Provide the most suitable information and communications-related products and services tailored to the stage and needs of the company since starting business. Our own sales structure, CRM. Web marketing × Sales rep × CLT (Customer Loyalty Team) (SaaS) Website 7 “GLOBAL WiFi” Business Business Model/Competitive Advantage
Associate Member Join from Sep. 2019. One of the world's largest mobile telecom business associations that links more than 750 mobile telecom carriers and 400 related industrial operators worldwide. ment se roviders Copyright(C) 2020 VISION INC. All Rights Reserved. 8
“Global WiFi” “NINJA WiFi” is the best way due to safe, secure, comfortable, and less expensive. It’s not a big deal to share with a rental Wi-Fi router, although people are reluctant to share their own data-volume with others (Individual travel: tend to share with two or

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Automatic pick-up locker You can receive in 10 seconds without waiting. Smart Pickup Self check-in KIOSK terminal (Multi-language available and settlement function) Immediate customer identification counter (QR code reception counter) Shorten waiting time No congestion Improve convenience Improve CS Increase sale Evolve to more convenient, comfortable, relieved counters that meet each customer’s needs, responding to the increase in the number of rental (delivery) and optional services (compensation service, accessory etc.), for Japanese traveling overseas and foreign visitors to Japan.
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Collaborate with each effort to further improve convenience Acquire departing passengers on the day. ⇒ Increase number of users. * Respond to WEB application in front of the airport counter instantly in collaboration with the database.
Expand Tabi-naka services (including options), responding to customer requests. Support safe, secure, and comfortable travel. Copyright(C) 2020 VISION INC. All Rights Reserved. 14
Use existing customer base and provide useful information/services to solve problems during overseas travel. GLOBAL WiFi. NINIA WiFi Overseas travelers In Japan, total approx. 4.06mn people/31.22mn nights Outbound (approx. 3.47mn people/24.29mn nights) + Inbound (approx. 0.99mn people/6.93mn nights)    ＊ FY2019 results, our research Advertising revenue improvement Useful information (Media) Useful services ARPU improvement Insurance, coupons, shop & duty-free shop, hotel & minpaku, tours, rental cars & limousine, tourist attractions, etc. Settlement platform Guide customers to allied partners Copyright(C) 2020 VISION INC. All Rights Reserved. Optional services that are convenient when traveling 《Reference》 FY2018 results: approx. 3.6mn people/25.22mn nights •Outbound... approx. 2.82mn people /19.76mn nights • Inbound … approx. 0.78mn people /5.45mn nights 15

Our Wi-Fi rental service penetration ratio (Japan) *
━━━Overseas use share (Outbound: Japan ⇒ Overseas) ─── Domestic use share (Inbound: Overseas ⇒ Japan + Japanese) ── Share in the Japanese market (Out + In) 6.4% 3.5%o 4.7% 5.8% 8.3% 7.1% 8.6% 7.8% 3.1% 1.2% 2.1% 2.2% 2.5% 3.1% 14.9% 17.3% 15.8% 11.7% * Create from Japan Tourism Agency material by us. FY2015 FY2016 FY2017 FY2018 FY2019 FY2020_2Q 139 Rental number (20 cumulative transition) FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 Copyright(C) 2020 VISION INC. All Rights Reserved.
Inbound (Foreign visitors to Japan) Over 31.88mn people for a year. * Results in FY2019 Government's target 60mn people in 2030 Outbound (Japan → Overseas) Approx. 20.08mn people for a year. Overseas travelers in the world (Number of international tourist arrivals) A huge market of 1.4bn people. Create from JNTO materials, Reiwa1 edition tourism white paper, and the materials released by UNWTO Copyright(C) 2020 VISION INC. All Rights Reserved.
Growth Strategy (Competitive Advantage)
Telephone Line Cellphone Arrangements Support Office Website Support Security Automation Cloud App Service (SaaS) * Total number of companies established within 6 months (including sole proprietors), starting business with us (our research) The number of acquisitions will depend on the fluctuations in handling services and products. Copyright(C) 2020 VISION INC. All Rights Reserved. 18
Number of incorporation registrations (total)  : 118,532 Approx. 120 thousand companies annually. (Continued increase trend due to aggressive establishment and corporate support by the government) Attract customers utilizing the know-how of web marketing with over 15 years experience. Target newly established companies. Number of registration of transfer of head office and branch (total) ：145,900 Approx. 150 thousand companies annually. (Excluding the number of offices transferred that are not obliged to apply for registration) Cover change procedures, etc. on addition and relocation. Cross/Up Selling by advanced operations of Customer Loyalty Team (CLT). (10 thou.) 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Copyright(C) 2020 VISION INC. All Rights Reserved. 20 Information and Communications Service Business Business Model Information and Communications Service Business Customer Service Create values with advanced operations Customer Loyalty Team (CLT) From delivery procedure to follow-up Covers a wide range of operations Information and Communications Service Business “High Efficiency” Marketing “High efficiency” marketing with combined three factors: web marketing × sales rep × CLT Copyright(C) 2020 VISION INC. All Rights Reserved. Information and Communications Service Business Escalation (Cooperation among Divisions, Customer Referral) Organization culture that creates continuous evolution High productivity created by escalation system (cooperation among divisions and customer referral) Improve productivity through flat and open culture, and the “escalation system” promoting cooperation among divisions Copyright(C) 2020 VISION INC. All Rights Reserved.

Stock-type Business Model
Offer optimum solutions according to the growth stage, continuing close to the growth of customer companies. Structure that accumulates profits by our original know-how CRM (customer
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Number of affiliated companies ■ Overseas 2016 2017 Number of operation bases
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FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 Forecast
SG&A expenses
■SG&A expenses ✦ SG&A-to-sales ratio FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 Forecast ■ Gross profit Gross profit (JPYmn, %) FY2020 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 Forecast
Operating profit
■Operating profit 3,325 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 '2020 ✦ Gross profit margin 15,690 12,365
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Customer Attributes (Corporate/Individual) “GLOBAL WiFi” Business   Overseas Use (Outbound) 3Q FY2020 *Fiscal period (Jul.-Sep.) Result 3Q FY2019 *Fiscal period (Jul.-Sep.) Result Customer Attributes (Corporate/Individual) “GLOBAL WiFi” Business   Overseas Use (Outbound) 3Q FY2020 *Cumulative period (Jan.-Sep.) Result 3Q FY2019 *Cumulative period Rental number (Jan.-Sep.) Result Customer Attributes (New/Repeat) “GLOBAL WiFi” Business   Overseas Use (Outbound) 3Q FY2020 *Fiscal period (Jul.-Sep.) Result 3Q FY2019 *Fiscal period (Jul.-Sep.) Result Customer Attributes (New/Repeat) “GLOBAL WiFi” Business   Overseas Use (Outbound) 3Q FY2020 *Cumulative period (Jan.-Sep.) Result 3Q FY2019 *Cumulative period Rental number (Jan.-Sep.) Result
3Q FY2020 (Jul.-Sep.) Result Gender, Corporate or individual
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3Q FY2020 *Cumulative period Copyright(C) 2020 VISION INC. All Rights Reserved. 36
3Q FY2019 *Fiscal period
3Q FY2019 *Cumulative period To Contribute to the Global Information and Communications Revolution
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Materials and information provided in this announcement include so-called “forward-looking statements." They are estimated at the present and are based on the assumption that involves forecasts and risks, and substantially they include uncertainties which could cause different results from these statements. These risks and uncertainties include general industry and market conditions, and general domestic and international economic conditions, such as interest rates and currency exchange fluctuations. In the future, even if there is new information or future events etc., we shall not be obligated to update and revise the “forward-looking statements” included in this announcement. Vision Inc. Contact :   Investor Relations Dept. ir@vision-net.co.jp