マクアケ（4479） – （Updated） Summary of Financial Results for the second quarter 2022

Note: This document has been translated from a part of 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. April 26, 2022 Non-consolidated Financial Results for the Six Months Ended March 31, 2022 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 April 27, 2022 – (Millions of yen with fractional amounts discarded, unless otherwise noted) 1. Performance for the six months ended March 31, 2022 (from October 1, 2021 to March 31, 2022) (1) Operating results (cumulative) (Percentages indicate year-on-year changes.) Net sales Operating profit Ordinary profit Profit Six months ended March 31, 2022 March 31, 2021 Millions of yen % Millions of yen % Millions of yen % Millions of yen % 2,243 2,100 6.8 87.2 (17) 63 – (73.6) 4 62 (93.5) (73.9) 61 40 52.3 (75.4) Six months ended March 31, 2022 March 31, 2021 Basic earnings per share Diluted earnings per share Yen 4.95 3.44 Yen 4.84 3.27 – 1 – (2) Financial position As of March 31, 2022 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 10,222 10,331 6,979 6,873 % 67.9 66.2 As of March 31, 2022 As of September 30, 2021 ¥6,937 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 4,700 1.7 0 (100.0) 20 (93.9) 65 (73.6) 5.19 Note: Revisions to the earnings forecasts most recently announced: Yes – 2 – * 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) (ii) Number of treasury shares at the end of the period As of March 31, 2022 As of September 30, 2021 As of March 31, 2022 As of September 30, 2021 For the six months ended March 31, 2022 For the six months ended March 31, 2021 12,568,700 shares 12,404,700 shares 87 shares 87 shares 12,487,381 shares 11,788,431 shares (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. – 3 – Makuake, Inc. (4479) As of September 30, 2021 As of March 31, 2022 (Thousands of yen)Quarterly financial statements (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 – 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 5,807,312 2,513,130 498,637 149,314 (7,282) 8,961,113 55,818 747,712 450,761 (7,537) 443,224 1,246,755 14,641 10,222,509 67,919 2,526,863 596,378 3,191,161 883 51,045 51,929 3,243,090 3,120,279 3,120,279 697,405 (499) 6,937,465 41,953 6,979,419 10,222,509 (2) Quarterly statement of income Net sales Cost of sales Gross profit Selling, general and administrative expenses Operating profit (loss) Non-operating income Interest income Dividend income Lecture fees and other income Subsidy 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 Makuake, Inc. (4479) (Thousands of yen)Six months ended March 31, 2021 Six months ended March 31, 2022 2,100,387 361,654 1,738,733 1,675,370 63,362 0 – 3,344 – 19 3,364 3,815 – 3,815 62,911 – – 62,911 25,206 (2,891) 22,314 40,597 2,243,204 453,463 1,789,740 1,807,439 (17,699) 1 8 5,415 20,744 1,553 27,722 5,755 201 5,956 4,065 97,500 97,500 101,565 43,604 (3,852) 39,752 61,813 – 5 – Makuake, Inc. (4479) (Thousands of yen) Six months ended March 31, 2021 Six months ended March 31, 2022 62,911 43,671 666 – – 6,680 (0) 3,815 87,812 (314,125) (25,552) 236,213 (79,192) (86,928) (64,029) 0 (136,405) 148 (200,286) (7,678) (140,121) (83,176) – (62,536) – – (293,512) 3,876,335 3,876,335 3,382,537 5,109,351 1,810 8,493,699 101,565 71,125 1,999 (97,500) 546 8,529 (9) 5,755 52,692 (93,441) 14,524 (125,599) (28,207) (26,159) (114,177) 1 (38,083) 38 (152,220) (17,840) (208,931) (40,020) 112,500 (2,660) 4,907 (330) (152,374) 33,784 33,784 (270,811) 8,591,254 – 8,320,443 (3) Quarterly statement of cash flows Cash flows from operating activities Profit before income taxes Depreciation Amortization of goodwill Loss (gain) on sale of investment securities Increase (decrease) in provision for retirement benefits Increase (decrease) provision for continuous services benefits Interest and dividend income Amortization of share issuance costs Decrease (increase) in trade receivables Increase (decrease) in accounts payable – other Increase (decrease) in accrued expenses Increase (decrease) in deposits received Increase (decrease) in accrued consumption taxes Other, net Subtotal Interest and dividends received Income taxes paid Income taxes refund Net cash provided by (used in) operating activities Cash flows from investing activities Purchase of property, plant and equipment Purchase of intangible assets Purchase of investment securities Proceeds from sale of investment securities Payments of leasehold and guarantee deposits Proceeds from refund of leasehold and guarantee deposits Payments for investments in capital Net cash provided by (used in) investing activities Cash flows from financing activities Proceeds from issuance of shares Net cash provided by (used in) financing activities Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of period Increase in cash and cash equivalents resulting from merger Cash and cash equivalents at end of period – 6 –