January 11, 2022 Company name: V-cube, Inc. President & CEO: Naoaki Mashita Tokyo Stock Exchange, First Section (stock code: 3681) Contact: Director & CFO, Corporate Planning Division General Manager Kazuki Yamamoto (TEL.03-6625-5011) Announcement regarding Revisions of Consolidated Business Forecast V-cube, Inc. hereby announces that based on the latest performance trends, we have revised the consolidated business forecast for the fiscal year ended December 2021 (January 1, 2021-December 31, 2021). Revisions of Consolidated Business Forecast (From January 1, 2021 to December 31, 2021) Net sales Operating profit Ordinary profit (Millions of yen) Net income per share 2,400 13,000 2,300 11,500 1,400 1,250 △1,500 △1,000 △1,050 △45.7 △41.7 1,020 1,046 Previous Forecst (A) Revised Forecast (B) Change (B-A) Rate of change (%) △11.5 (Reference) Results of previous year (ended December 31,2020) (NOTE) In Revised forecast (B), Net income per share is calculated using the number of shares as 81.23 yen 46.49 yen 47.10 yen 8,282 Profit attributable to owners of parent 2,000 1,150 △850 △42.5 1,138 of the end of December 2021 (Reasons for Revisions) The rapid growth of the Event DX business in particular drove our performance through the second quarter of the fiscal year ending December 31, 2021, but due to a sharp decline in small-scale events in the pharmaceutical industry from the third quarter onward, and the continuation of this trend into the fourth quarter, sales are expected to fall short of our initial forecast. Operating income is also expected to fall short of the initial forecast due to a sharp decline in small-scale events in the pharmaceutical industry, the postponement of delivery of large-scale projects in the enterprise DX business to the next fiscal year, and an increase in the ratio of resale products such as Zoom. In the fiscal year ending December 31, 2022, we will shift its focus in the Event DX business to medium and large-scale, higher-value-added projects in a variety of industries that continue to expand steadily, adapt to the rapid changes in the business structure, and improve profitability by increasing operational efficiency. At the same time, we have positioned 2022 as a year to accelerate growth for the future through aggressive marketing investments, including the TV commercial launched today in the Third Place DX business. Based on the above policies, we have revised our medium-term management plan for the fiscal year ending December 31, 2022, to sales of 13.9 billion yen, operating income of 2.0 billion yen, and profit attributable to owners of parent of 1.5 billion yen. For details, please refer to the “Revision of Forecast for Fiscal Year Ending December 31, 2021 and Medium-Term Management Plan” released on the same day. Please note that these forecasts are based on current estimates as of today, and may change due to future financial procedures and audit results.
