マクアケ（4479） – [Delayed] Non-consolidated Financial Results for the Three Months Ended December 31, 2021

Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. January 25, 2022 Non-consolidated Financial Results for the Three Months Ended December 31, 2021 Company name: Makuake, Inc. Listing: Stock code: URL: Representative: Inquiries: Tokyo Stock Exchange 4479 http://www.makuake.com/ Ryotaro Nakayama, CEO Yuki Tamura, Corporate Officer and General Manager of Business Management Division +81-3-6328-4038 (from overseas) TEL: Scheduled date to file quarterly securities report: Scheduled date to commence dividend payments: Preparation of supplementary materials for quarterly financial results: Yes Holding of quarterly financial results presentation meeting: Yes January 26, 2022 – (Millions of yen with fractional amounts discarded, unless otherwise noted) 1. Performance for the three months ended December 31, 2021 (from October 1, 2021 to December 31, 2021) (1) Operating results (cumulative) (Percentages indicate year-on-year changes.) Net sales Operating profit Ordinary profit Profit Three months ended December 31, 2021 December 31, 2020 Millions of yen % Millions of yen % Millions of yen % Millions of yen % 1,152 992 16.1 91.1 38 152 (74.6) 47.7 38 152 (74.6) 47.1 90 105 (14.4) 46.7 Three months ended December 31, 2021 December 31, 2020 Basic earnings per share Diluted earnings per share Yen 7.29 9.07 Yen 7.08 8.60 (2) Financial position As of December 31, 2021 September 30, 2021 Reference: Equity 2. Cash dividends Fiscal year ended September 30, 2021 Fiscal year ending September 30, 2022 Fiscal year ending September 30, 2022 (Forecast) Total assets Net assets Equity ratio Millions of yen Millions of yen 10,395 10,331 6,975 6,873 % 66.7 66.2 As of December 31, 2021 As of September 30, 2021 ¥6,939 million ¥6,841 million Annual dividends First quarter-end Second quarter-end Third quarter-end Fiscal year-end Total Yen Yen – – Yen 0.00 0.00 – – Yen 0.00 0.00 Yen 0.00 0.00 Note: Revisions to the cash dividend forecasts most recently announced: None 3. Earnings forecasts for the fiscal year ending September 30, 2022 (from October 1, 2021 to September 30, 2022) Net sales Operating profit Ordinary profit Profit (Percentages indicate year-on-year changes.) Basic earnings per share Fiscal year ending September 30, 2022 Millions of yen % Millions of yen % Millions of yen % Millions of yen % Yen 6,200 34.2 465 41.3 460 41.1 350 41.9 28.22 Note: Revisions to the earnings forecasts most recently announced: None * Notes (1) Application of special accounting treatments for the preparation of quarterly financial statements: None (2) Changes in accounting policies, changes in accounting estimates, and restatement (i) Changes in accounting policies due to revisions to accounting standards and other regulations: Yes (ii) Changes in accounting policies due to other reasons: None (iii) Changes in accounting estimates: None (iv) Restatement: None (3) Number of issued shares (common shares) (i) Total number of issued shares at the end of the period (including treasury shares) 12,436,700 shares 12,404,700 shares 87 shares 87 shares 12,430,787 shares 11,672,502 shares (ii) Number of treasury shares at the end of the period As of December 31, 2021 As of September 30, 2021 As of December 31, 2021 As of September 30, 2021 For the three months ended December 31, 2021 For the three months ended December 31, 2020 (iii) Average number of shares during the period (cumulative from the beginning of the fiscal year) * Quarterly financial results reports are exempt from quarterly review conducted by an audit corporation. * Proper use of earnings forecasts, and other special matters The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. These statements do not purport that the Company pledges to realize such statements. Actual business and other results may differ substantially due to various factors. Makuake, Inc. (4479) Attached materials Index 1. Qualitative information on quarterly financial results …………………………………………………………………… 2 (1) Information on operating results ………………………………………………………………………………………….. 2 (2) Information on financial position …………………………………………………………………………………………. 3 (3) Explanation of forward-looking information including earnings forecasts …………………………………. 3 2. Quarterly financial statements and significant notes thereto ………………………………………………………….. 4 (1) Quarterly balance sheet ………………………………………………………………………………………………………. 4 (2) Quarterly statement of income …………………………………………………………………………………………….. 5 (3) Notes to quarterly financial statements …………………………………………………………………………………. 6 Notes on premise of going concern ………………………………………………………………………………………. 6 Notes on significant changes in the amount of shareholders’ equity ………………………………………….. 6 Segment information ………………………………………………………………………………………………………….. 6 – 1 – 1. Qualitative information on quarterly financial results (1) Information on operating results Makuake, Inc. (4479) The forward-looking statements in this report were prepared based on information available as of the end of the quarter under review. Based on its vision of “Create a world where worthy things can come to be, grow and endure,” the mission of Makuake, Inc. (the Company) is to “Connect the world through the creation of the ‘new.’ ” We operate the Makuake service, a “support” pre-order platform to connect project owners (Businesses) who are providing something new to the world with supporters (Consumers) who purchase new items and experiences based on their knowledge of the background and the ideas of the project owners. As ancillary services, we also provide Makuake Incubation Studio, which supports the generation of new businesses that leverage research and development technology owned by companies; agency operations for the distribution of advertisements to facilitate the growth of “support” pre-order value at Makuake; Makuake STORE, which enables continued sales on e-commerce sites even after projects have ended; Makuake Global, which accepts “support” pre-orders from overseas; “Support” Pre-order Service for Buyers, which enables buyers in Japan to watch how new products that have just launched are selling and to stock them on the internet; Makuake SHOP, which works with partner companies in a variety of formats nationwide to enable products launched on Makuake to be displayed and sold in real-world stores. Although in the first three months of the fiscal year ending September 30, 2022, the Japanese economy saw a continuation of the difficult conditions caused by the effects of the novel coronavirus disease (COVID-19), vaccinations made progress globally and the infection rate fell in Japan, while states of emergency and measures to prevent proliferation were lifted across the board, in addition to which we have seen a recovery in personal consumption, driven partly by improvements in the world economy. On the other hand, the emergence of new variants of the virus has caused border controls to be devised by countries around the world, and the impact of an increase in infections on the economy, both in Japan and overseas, remains unclear. The business environment for the Company is affected by market trends such as that of the e-commerce market for debuting new products and of the e-commerce market for pre-ordering new services, but due to the new lifestyles and working styles we have seen emerging as a result of the spread of COVID-19, demand in these markets is extraordinarily high and growth is continuing. Going forward, we believe that the e-commerce market for debuting new products has extraordinarily high growth potential. Against this backdrop, and in a continuation of the trend seen in the fiscal year ended September 30, 2021, the first three months of the fiscal year ending September 30, 2022, were characterized by an increase in the number of new projects published from project owners wanting to debut new products and services, and an increase in the number of unique users visiting Makuake in search of new products that fit their tastes and preferences. Conversely, the increase in the workload for curators, and issues with the user experience in relation to finding new products and services caused by the rise in the number of projects, led to a decline in the conversion rate (CVR), which expresses how well the needs of owners and supporters are matched. In order to improve this, we strengthened the hiring of curators and screening staff, as well as began transitioning to a new organizational structure for both divisions. Furthermore, in order to improve the user experience, we continued to develop new functions centered on apps. The measures taken to improve the CVR during the period under review, were intended to further strengthen the foundations of the business in preparation for an acceleration of growth in the third quarter and beyond, and did not result in an improvement in the CVR during the period in question. Nevertheless, total “support” pre-order value rose by 19.0% year on year to ¥5,369,538 thousand, showing a steady growth. As a result, for the period under review, the Company recorded net sales of ¥1,152,566 thousand (up 16.1% year on year), operating profit of ¥38,560 thousand (down 74.6% YoY), ordinary profit of ¥38,650 thousand (down 74.6% YoY) and profit of ¥90,561 thousand (down 14.4% YoY). – 2 – As the Company consists of a single business segment, the Makuake service, a platform for people to place “support” pre-orders of new things and experiences, information by segment is omitted. Makuake, Inc. (4479) (2) Information on financial position Assets At the end of the quarter under review, total assets increased by ¥64,296 thousand from the previous fiscal year-end to ¥10,395,843 thousand. Current assets increased by ¥2,765 thousand to ¥9,272,328 thousand. The main components included an increase of ¥47,553 thousand in segregated deposits. Non-current assets increased by ¥64,408 thousand to ¥1,105,995 thousand. The main components included an increase of ¥73,580 thousand in intangible assets. At the end of the quarter under review, liabilities decreased by ¥38,101 thousand from the previous fiscal year-end to ¥3,420,112 thousand. Current liabilities decreased by ¥43,097 thousand to ¥3,372,262 thousand. This was due mainly to accounts payable – other included in other decreasing by ¥76,580 thousand. Non-current liabilities increased by ¥4,996 thousand to ¥47,849 thousand. The main components included an increase of ¥4,740 thousand in provision for continuous services benefits. Liabilities Net assets At the end of the quarter under review, net assets increased by ¥102,398 thousand from the previous fiscal year-end to ¥6,975,730 thousand. The main components included an increase of ¥90,561 thousand in retained earnings due to the recording of profit. (3) Explanation of forward-looking information including earnings forecasts There is no change to the earnings forecasts for the fiscal year ending September 30, 2022 from the forecasts announced on October 26, 2021. – 3 – 2. Quarterly financial statements and significant notes thereto Makuake, Inc. (4479) As of September 30, 2021 As of December 31, 2021 (Thousands of yen) 5,949,943 2,641,311 551,330 134,259 (7,282) 9,269,563 43,119 593,873 412,131 (7,537) 404,594 1,041,587 20,396 10,331,547 72,286 2,652,462 690,611 3,415,360 337 42,516 42,853 3,458,214 3,103,387 3,103,387 635,591 (499) 6,841,867 31,464 6,873,332 10,331,547 5,977,153 2,688,865 466,812 146,779 (7,282) 9,272,328 42,765 667,454 403,313 (7,537) 395,776 1,105,995 17,518 10,395,843 53,243 2,711,740 607,278 3,372,262 593 47,256 47,849 3,420,112 3,106,683 3,106,683 726,153 (499) 6,939,021 36,709 6,975,730 10,395,843 (1) Quarterly balance sheet Assets Current assets Cash and deposits Segregated deposits Accounts receivable – trade Other Allowance for doubtful accounts Total current assets Non-current assets Property, plant and equipment Intangible assets Investments and other assets Other Allowance for doubtful accounts Total investments and other assets Total non-current assets Deferred assets Total assets Liabilities Current liabilities Income taxes payable Deposits received Other Total current liabilities Non-current liabilities Provision for retirement benefits Provision for continuous services benefits Total non-current liabilities Total liabilities Net assets Shareholders’ equity Share capital Capital surplus Retained earnings Treasury shares Total shareholders’ equity Share acquisition rights Total net assets Total liabilities and net assets – 4 – Makuake, Inc. (4479) (Thousands of yen)Three months ended December 31, 2020 Three months ended December 31, 2021 992,732 187,270 805,461 653,451 152,009 1,611 19 1,630 1,407 – 1,407 152,232 – – 152,232 43,023 3,396 46,419 105,813 1,152,566 229,372 923,193 884,633 38,560 2,749 310 3,059 2,877 91 2,969 38,650 97,500 97,500 136,150 40,553 5,035 45,588 90,561 (2) Quarterly statement of income Net sales Cost of sales Gross profit Selling, general and administrative expenses Operating profit Non-operating income Lecture fees and other income Other Total non-operating income Non-operating expenses Amortization of share issuance costs Other Total non-operating expenses Ordinary profit Extraordinary income Gain on sale of investment securities Total extraordinary income Profit before income taxes Income taxes – current Income taxes – deferred Total income taxes Profit – 5 – Makuake, Inc. (4479) (3) Notes to quarterly financial statements Notes on premise of going concern No applicable items. Notes on significant changes in the amount of shareholders’ equity No applicable items. Changes in accounting policies Application of Accounting Standard for Revenue Recognition, etc. The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31, 2020) and relevant ASBJ regulations from the beginning of the first quarter of the current fiscal year, and it has recognized revenue at the time the control of promised goods or services is transferred to the customer at the amount expected to be received upon exchange of said goods or services. The application of the Accounting Standard for Revenue Recognition and relevant ASBJ regulations is subject to the transitional treatment provided for in the proviso to paragraph 84 of the Accounting Standard for Revenue Recognition. The cumulative effect of the retrospective application, assuming the new accounting policy had been applied to periods prior to the beginning of the first quarter of the current fiscal year was added to or deducted from the opening balance of retained earnings of the first quarter of the current fiscal year, and thus the new accounting policy was applied from such opening balance. There is no effect on the profit or loss for the first three months of the current fiscal year or the opening balance of retained earnings of the current fiscal year. Furthermore, the information on disaggregation of revenue from contracts with customers during the first three months of the previous fiscal year has not been disclosed as allowed by the transitional treatment provided for in paragraph 28-15 of the Accounting Standard for Quarterly Financial Reporting (ASBJ Statement No. 12, March 31, 2020). Application of Accounting Standard for Fair Value Measurement, etc. The Company has applied the “Accounting Standard for Fair Value Measurement” (ASBJ Statement No. 30, July 4, 2019) and relevant ASBJ regulations from the beginning of the first quarter of the current fiscal year, and it has applied the new accounting policy provided for by the Accounting Standard for Fair Value Measurement, etc. prospectively in accordance with the transitional measures provided for in paragraph 19 of the Accounting Standard For Fair Value Measurement, and paragraph 44-2 of the “Accounting Standard for Financial Instruments” (ASBJ Statement No. 10, July 4, 2019). There is no effect on the quarterly financial statements. Segment information Segment information As the Company consists of a single business segment, the Makuake service, a platform for people to place “support” pre-orders of new things and experiences, this information is omitted. – 6 –