船井総研ホールディングス（9757） – Summary of Financial Results for the 1st Quarter of the Fiscal Year Ending December 2022

1st Quarter of Fiscal Year Ending December 2022Summary of Financial ResultsFunai Soken Holdings Incorporated（TSE Prime, stock code 9757)Monday, May 9, 2022Contents1FY2022 1st Quarter Financial Results(1) Consolidated Income(2) Progress in Comparison with This Year’s Forecasts(3) Results of Operations by Segment(4) Results of Operations by Segment: Consulting(5) Performance by Segment: Logistics(6) Results of Operations in Digital Transformation Services(7) Consolidated Financial Position2Outlook and Initiatives(1) Progress toward Achieving the Mid-Range Business Plan(2) Dividends(3) Business Strategy(4) Financial Strategy(5) ESG(6) Corporate Governance Structure［Statement Regarding Use of These Materials］Notes: 1.The company has adopted the Accounting Standards Board of Japan’s Accounting Standard for Revenue Recognition beginning in FY2022. In accordance with that standard, its principles are applied retroactively to past accounting figures herein.Starting in FY2022, the direct recruiting business is included in the “other businesses” segment due to its decreased financial importance.2.© 2022 Funai Soken Holdings Inc.1FY2022 1st Quarter Financial Results1．FY2022 1st Quarter Financial Results(1) Consolidated IncomeCatering to clients’ needs amid Covid-19 resulted in record performance.Sales were solid, with sales of monthly support services and projects up in the consulting segment, and sales of logistics consulting and BPO up in the logistics segment.As consulting is highly profitable, the increase in revenue in that segment caused profit margins to rise as well.March 2021March 2022Amount (million yen)% of totalAmount (million yen)% of totalChange (%)5,4811,6771,7051,166100.030.631.121.36,241 100.0 +13.92,081 33.3 +24.02,089 33.5 +22.51,443 23.1 +23.8Net salesOperating incomeOrdinary incomeNet income attributable to owners of the parent© 2022 Funai Soken Holdings Inc.31．FY2022 1st Quarter Financial Results(2) Progress in Comparison with This Year’s ForecastsSales so far are at 24.7% of this year’s forecast of 25,300 million yen.Operating income, ordinary income, and net income are all at around 30% of this year’s forecast.Net sales2022 full-year forecast25,300 mill. yen(+10.9% y-o-y)Operating income2022 full-year forecast7,100 mil. yen(+11.7 y-o-y)Ordinary income2022 full-year forecast7,150 mil. yen(+10.9 y-o-y)Net incomeattributable to owners of the parent company2022 full-year forecast4,800 mil. yen(+9.6 y-o-y)March earnings6,241 mil. yenMarch earnings2,081 mil. yenMarch earnings2,089 mil. yenMarch earnings1,443 mil. yen0%100%0%100%0%100%0%100%Progress as of March 202224.7％Progress as of March 202229.3％Progress as of March 202229.2％Progress as of March 202230.1％© 2022 Funai Soken Holdings Inc.41．FY2022 1st Quarter Financial Results(3) Results of Operations by SegmentSales and income increased on the back of robust performance in the consulting and logistics segments.Among other businesses, we achieved a large increase in direct recruiting income due to improved profit margins and an increase in system development orders.(Intra-group & whole-group transactions)Net salesConsultingLogisticsOther businessesTotalConsultingLogisticsOther businessesTotalMarch 2021Amount(million yen)March 2022Amount(million yen)Change (%)4,23065459155,4811,5197445381,6774,68291064346,2411,783134145172,081+10.7+39.2+8.9－+13.9+17.3+80.0+223.4－+24.0Operating incomeMarch 2021Amount(million yen)March 2022Amount(million yen)Change (%)(Intra-group & whole-group transactions)© 2022 Funai Soken Holdings Inc.Ratio of Net salesRatio of operating incomeConsulting75.1%Logistics14.6%Other businesses10.3%Consulting86.4%Logistics6.5%Other businesses7.1%*Percentages exclude intra-group & whole-group transactions51．FY2022 1st Quarter Financial Results(4) Results of Operations by Segment: Consulting—Sales by Service CategoryMonthly support sales grew strongly, finishing 5.9% over the same period in the preceding year. Project sales skyrocketed 78.6% over the same period in the preceding year, boosted by public-sector orders and contingency fees from successful M&As.Open seminar sales were down 9.6% from the same period in the preceding year due to a slight decrease in the number of online seminars held.Web ad listings increased 26.0% over the same period in the preceding year on the back of continuing solid rise in accounts.Note: Monthly supportConsulting services provided through regular visitsProjectsRegular reports, issued over a specific period, regarding investigations, diagnoses, and proposals based on the results of these activitiesManagement workshop subscriptionsFees received for industry-specific management workshops and other membership activitiesOpen seminarsBusiness model-based seminars for business operatorsOnline ad listing salesServices for online advertisement agency operations=====Jan.-Mar. 2021Jan.-Mar. 20223,038 3,215 (Million yen)5,0004,5004,0003,5003,0002,5002,0001,5001,0005000477 267 510 497 64 58 228 287 120 145 Monthly supportProjectsOpen seminarsOnline ad listing salesOthersManagement workshopsubscriptions© 2022 Funai Soken Holdings Inc.6+5.9％+78.6％-2.6%-9.6％+26.0％＋20.6％Consulting1．FY2022 1st Quarter Financial Results(4) Results of Operations by Segment: Consulting—Sales by SectorRobust performance was driven by solid sales of consulting services for clients in core segments such as housing, real estate, healthcare, nursing care, and welfare.There was continued strong performance in digital transformation consulting services, which include DX for marketing (e.g., online sales) for manufacturing clients, and DX to help clients use AI, robotics, and RPA to increase the efficiency of work processes.Housing & real estate+7.8%Healthcare, nursing care, and welfare+5.5%1,209 1,121 792 751 Certified professional services+16.4%395 340 Specialist services+18.6%Mobility+1.5%Manufacturing+23.3%260 219 226 223 162 131 Growth supportRaising business performance to achieve profit-and-loss statement improvementsTalent development supportHRD consulting services to help clients recruit, train, and assess workers, and invigorate their organizationsSupport for improved corporate value, etc.Helping clients achieve balance sheet improvements through assistance with business ownership succession, M&As, and financial matters.Upper bar: Jan. – Mar. 2022Lower bar: Jan. – Mar. 2021Dining-1.9%Education, childcare,schools+15.5%Environment, energy-10.7%Amusement+6.4%Food-9.7%Public, gov’t services+122.0%64 150 153 147 127 146 164 143 117 110 112 124 20005001,000（Million yen）0400（Million yen）Figures show total sales of consulting contracts, management workshop subscriptions, and open seminars, grouped in accordance with the company’s industry classifications, for Jan. through Mar. 2021 and 2022.© 2022 Funai Soken Holdings Inc.71．FY2022 1st Quarter Financial Results(4) Results of Operations by Segment: Consulting—Consulting Client Numbers The number of consulting client companies rose in the first quarter, and is tracking above the same period in the previous two years.(No. of companies)202020212022Monthly Consulting Client Company Numbers3,8003,6003,4003,2003,0002,8003,551 3,443 3,489 3,347 3,245 3,334 3,119 3,324 3,351 3,507 3,511 3,507 3,465 3,431 3,351 3,370 3,414 3,395 3,375 3,566 3,696 3,494 3,197 3,229 3,210 2,953 2,944 Jan.Feb.Mar.Apr.MayJun.Jul.Aug.Sep.Oct.Nov.Dec.*Figures denote number of client companies (in Japan) per month in the consulting segment (excl. intra-group transactions).© 2022 Funai Soken Holdings Inc.81．FY2022 1st Quarter Financial Results(5) Performance by Segment: Logistics—Sales by Service CategorySolid progress toward achieving full-year forecasts (currently 28.5% toward full-year sales target of 3,200 million yen).Increase in workshop member numbers and online sales have contributed to increased sales.（Million yen）1,0009008007006005004003002001000654156498+39.2%910205Logistics ConsultingHelping clients reduce logistics costs＋31.7％Consulting for logistics companies was in line with the preceding year; management workshop memberships increased: 308 as of Mar. 31, 2022; 277 as of Mar. 31, 2021.Revenues from consulting services increased, buoyed by a recovery in orders.705Logistics BPOLogistics on behalf of clientsReducing purchasing costs through joint buying＋41.6％Deep-mining of existing clients and growth in client orders resulted in an increase in sales.Demand for product deliveries was particularly strong among clients.Sales increased due to the effect of rising fuel prices on our core offering in this segment: joint purchasing of fuel.FY2021/1QFY2022/1Q© 2022 Funai Soken Holdings Inc.91．FY2022 1st Quarter Financial Results(6) Results of Operations in Digital Transformation ServicesThe group is investing significant effort into digital transformation services, which grew at least 30%.Digital transformation services account for an increasingly large share of total sales and are helping grow the group’s business overall.FY2021/1QFY2022/1QTotal: 5,481Total: 6,241（up 13.9% y-o-y）（Million yen）（Million yen）4,59588516.2%of total5,059+10.1% y-o-y1,18118.9%of total285228 191179Total 885406 +42.2% y-o-y287248238+26.0% y-o-y+29.9% y-o-y+32.9% y-o-yTotal 1,181+33.5% y-o-yDigital transformation service salesDX-solution-based consulting salesSales of other servicesOnline ad listing salesRecruiting Cloud (AI-powered recruiting service) salesSystems development sales© 2022 Funai Soken Holdings Inc.101．FY2022 1st Quarter Financial Results(7) Consolidated Financial Position—Balance SheetCurrent assets19,04919,280assetsNoncurrent Property, plant, and equipmentIntangible assetsInvestments and other assets5,9177055,2565,9318314,500＋13+126-755Total assets30,92830,543Current liabilities5,0534,407Noncurrent liabilities164292＋128Total liabilities5,2174,699-517As of Dec. 31, 2021As of Mar. 31, 2022ChangeMajor factors behind changes(Million yen)+230 Increase in current assets: Major factors include increases in trade notes and accounts receivable, and short-term investment securities; decreases in cash and deposits.Decrease in noncurrent assets: Major factors include increase in software, decrease in investment securities.-384-645 Decrease in current liabilities: Major factors include increase in provision for bonuses, decreases in current portion of long-term loans payable and income taxes payable.Increase in noncurrent liabilities: Major factors include increase in long-term loans payable.Total net assets25,71025,844+133 Financial position remains sound with a high equity ratio of 82.4%.Total liabilities & net assets© 2022 Funai Soken Holdings Inc.30,92830,543-38411Outlook and Initiatives2. Outlook and Initiatives(1) Progress toward Achieving the Mid-Range Business PlanIn 2022, the final year of the current Mid-Range Business Plan, our target is sales of 25.3 billion yen (with the new Accounting Standard for Revenue Recognition applied).We are aiming for sustained double-digit growth and operating income of 7.1 billion yen in FY2022.（million yen）Net sales22,81625,300Vs. full-year targetsSales24.7%5.9％12.7％Operating margin27.9％6,358Operating income2021 actual© 2022 Funai Soken Holdings Inc.6,2412,081Operating margin33.3％2022 1Q actualVs. mid-year targetsSales50.7%12,300Operating income57.8%3,600Operating margin29.3％Mid-year target7,100Operating margin28.1％Full-year targetOperating income29.3%2022 sales by segment81.4％Consulting (20,600 million yen)Logistics (3,200 million yen)Other Businesses (1,500 million yen)132. Outlook and Initiatives(2) Annual DividendsIn 2022, we plan to pay a total dividend of 53 yen per share, comprising an interim dividend of 25 yen and a year-end dividend of 28 yen.Initial forecastActual dividendRecord dateFY2017Dividend(per share)39.0DetailsDividend(per sharer)DetailsAnnual Dividend per Share2Q-end 15.0Year end 24.045.02Q-end 15.0Year end 30.0NB: Shares in the company were split 1.5-for-1 in January 2018. For ease of comparison, figures for 2017 have been adjusted by the same ratio; figures in parentheses are the actual figures.Planned dividend for the year: 53 yenFY20181.5-for-1 share split33.02Q-end 15.0Year end 18.035.0FY201940.02Q-end 17.0Year end 23.040.02Q-end 15.0Year end 20.0*including special dividend of 2.02Q-end 17.0Year end 23.0*Including a commemorative dividend of 3.0FY2020FY202145.02Q-end 20.0Year end 25.045.02Q-end 20.0Year end 25.046.02Q-end 21.0Year end 25.048.02Q-end 21.0Year end 27.048.0 45.0 Year end28.040.035.0 30.0 （45）(Yen)60.050.040.030.020.010.00.0FY2022(Forecast)53.02Q-end 25.0Year end 28.0© 2022 Funai Soken Holdings Inc.201720182019202020212Q-end25.02022（Forecast）142. Outlook and Initiatives(3) Business StrategyOur comprehensive management consulting services for SMEs, the group’s core strength, are the ideal vehicle for offering clients thorough post-Covid “new normal” support to help them cope amid the related upheaval. We are also working on a series of initiatives relating to digital transformation consulting for SMEs and comprehensive management consulting services for mid-scale companies, which will help us expand into new business segments as stated in our Mid-Range Business Plan.Industry-specific, solution-category-specific supportDX supportStrategy proposalsMajoriMd-scaleSMEComprehensive management consulting services for mid-scale companies-Solutions tailored to clients’ challenges and the specific stages – Proposal of solutions based on industry- and/or subject-specific – Support of M&A and business restructuring leveraging our – Support for DX reconstruction of core systems including for expertiseproduction, sales and labor managementof their journeysexpertise in each industryComprehensive management consulting services for SMEsDX consulting services for SMEsGrowth supportTalent development supportSupport for improved corporate valueDigitalization supportSupport for productivity improvementSales DX supportSupport the shift to the new normal*that produce results＋Attentive consulting to help clients amid the Covid chaos.＝Group’s strengths since its foundation＝- Support for the adoption of industry-specific digital solutions – Support for productivity improvement of SMEs from the perspective of digital shifts- Support for the adoption of DX that “improves performance,” by focusing on sales process.Recent activity1) Acquired approved Tokyo Pro Market “J-Adviser” status2) Merged relevant subsidiaries (est’d Funai Soken Digital) to strengthen digital service capabilities3) Team up with Zoho to work on training and developing digital transformation consultants and digital solutions staff© 2022 Funai Soken Holdings Inc.15*Support clients’ shift to the new normal in the post-COVID era from the perspective of company management2. Outlook and Initiatives(3) Business Strategy 1) Acquired approved Tokyo Pro Market “J-Adviser” statusFunai Consulting, the group’s main subsidiary, was recently granted approved Tokyo Pro Market “J-Adviser” status by Tokyo Stock Exchange, Inc., for its Tokyo Pro Market for professional investors.Funai Consulting already offered IPO consulting services, but becoming a J-Adviser enables the company to serve as a one-stop provider of comprehensive pro-market solutions. The company is looking to harness these strengths to develop outstanding local companies.■What Does Being a J-Adviser Mean?The J-Adviser SystemAs a J-Adviser, Funai Consulting is entrusted by Tokyo Stock Exchange to investigate client companies that want to be listed on the Tokyo Pro Market, which has a different listing system than regular share markets. Funai Consulting can guide companies through the listing process and provide post-listing support for rule compliance and disclosure.What a J-Adviser DoesInvestigate listing applicantsAssess company’s suitabilityBusinesst TokyoSock ExchangeLegalFinancialPre-listing interviewsInterview executives, corporate auditorsInterview auditing firmTPMListing applicationEntrusts investigation of applicants toJ-AdvisersPost-listing supportConfirm company’s suitabilityAGMs, board meetingsMonthly accountsTimely disclosureIssuer info, timely disclosureOtherDirector training, analyst reportsJ-Advisers work under entrustment from the Tokyo Stock Exchange.J-Advisers continue to advise and assist clients after listing.See the Tokyo Stock Exchange website for more details.https://www.jpx.co.jp/english/equities/products/tpm/index.html© 2022 Funai Soken Holdings Inc.162. Outlook and Initiatives(3) Business Strategy 2) Merger of Subsidiaries to Strengthen Digital Service CapabilitiesTwo Funai Soken Consulting Group companies merged (surviving company renamed Funai Soken Digital) to bolster the group’s ability to provide digital services.Currently formulating strategies for ongoing business in the digital services segment.Merger scheduled for July 1, 2022Surviving company to be renamed:Funai Soken Digital, Inc. (name TBC)3) Team up with Zoho to work on training and developing digital transformation consultants and digital solutions staffZoho is the ideal tool for our digital transformation consulting services for SMEs and mid-scale clients.We entered into a training and certification partnership agreement with ZohoJapan to develop digital solutions staff and improve productivity, thereby addressing two of the most pressing needs of SMEs.Under the agreement, Funai Soken Holdings and the rest of the Funai Soken Consulting Group have exclusive use of Zoho products in Japan for the group’s digital solutions staff training business.Funai Soken Corporate Relations• Online marketing, sales support• BPO, BPO consultingStrengthsShinwa Computer Service• Solid track record of reliable systems development• Hiring, training digital solutions StrengthsstaffMethod of Merger and Allocation of Stake in New CompanyAn absorption merger, in which Funai Soken Corporate Relations will absorb Shinwa Computer Service and be the surviving company, and Shinwa Computer Service will become defunct.As both merging companies are wholly-owned subsidiaries of Funai Soken Holdings, no allocation of shares or other monies shall arise in this case.Zoho, the Growing Company’s Preferred DX Tool (written and edited by Funai Consulting Inc.)© 2022 Funai Soken Holdings Inc.17About ZohoZoho is a suite of cloud-based solutions to help businesses digitalize their operations and improve efficiency. Worldwide, Zoho has more than 75 mil.usersat250,000 companies2. Outlook and Initiatives(4) Financial Strategy: (1) Capital Policy and Shareholder Return PolicyAmid residual impact from Covid-19 in 2021, we undertook a share buy-back. By acquiring treasury shares, we aimed to improve capital efficiency to a consolidated ROE of at least 15% and raise the return-to-shareholders ratio to at least 60%. Ultimately, we achieved those goals, with a consolidated ROE of 18.2% and a return-to-shareholders ratio of 60.1%. We remain committed to achieving the targets of 2022, the final year of the current Mid-Range Business Plan.■Consolidated ROE and capital cost: Results and targets■ Total dividends and total shareholder return ratio: Results and targets2020-2022Target: 15% or higher18.2（％）ROECost of Capital15.916.417.415.313.82017-2019Target: 10% or higherTotal dividends(Million yen)Share buy-backTotal shareholder return ratio2020-2022Target: 60% or higher90.685.078.147.39991,50073960.12607.76.88.27.85.54.41,5201,7712,0032,2332,3702016201720182019202020212022(Forecast)201720182019202020212022(Forecast)Previous Mid-range Business PlanMid-range Business PlanPrevious Mid-range Business PlanMid-range Business Plan© 2022 Funai Soken Holdings Inc.(%)201510504,0003,0002,0001,0000(%)10080604020018201510502. Outlook and Initiatives(4) Financial Strategy: (2) Investment for Growth: Allocation of cashflow from operating activities over three yearsIncrease shareholders’ value by allocating cashflow from operating activities and cash reserves to investment for the next stage of growth and to appropriate shareholder returns. Cashflow from operating activities over 3 years12 billion yen*Cash reserves5.0 billion yenInvestment for growthPriority initiatives- Business Strategy- M&As- Hiring and education- Developing talent for digital functions- DX investment- Core systems- Develop new consulting services utilizing big data, AI, etc.Continue investment for further growthShareholder returnContinue to enhance shareholder returns with the aim of achieving total shareholder return ratio of 60% or higher(Excluding operating capital of 6.0 billion yen*)*The numbers have been revised reflecting the revised plan© 2022 Funai Soken Holdings Inc.192. Outlook and Initiatives(5) ESGWe will further strengthen our initiatives for ESG, recognizing its importance, under the Group philosophy: “We help to build a better future for people, business, and the society.”Our Group’s ESG visionStrengthen ESG initiatives through management consulting and other business activitiesCSR activitiesGreat Company Awards● Contribute to economic growth through consulting onimplementation support for mid-scale companies and SMEs- Profitability- Growth- Uniqueness●Provide diverse personnel with opportunities to unleash their capabilities (emphasizing diversity and inclusion)Awarded 77 companies over twelve years(every year since 2010)● Contribute to the environment through consulting relating to energy savings and renewable energy-related areas● Industry-specific consulting making environmentally-conscious proposals, advice and support (for housing, automotive, food and other industries)© 2022 Funai Soken Holdings Inc.Environmental-friendlinessEnvironmentSocial and educational significanceSocialGovernance● Strengthen corporate governance ●Contribute to development of local societies through consulting for regional revitalization (revitalization of local community, local production local consumption, response measures for declining birthrate)● We support the Great Company Award program run by Funai Foundation helping to find and promote “great companies” that serve as role models for many companies.●Industry-specific consulting providing proposals, advice and support taking social significance into account (for healthcare, certified professional services, preschool and education, and other industries)*We define “great companies” as “companies with sustained growth that demonstrate their unique merits along with social and educational significance, profitability, growth and environmental-friendliness.”202. Outlook and Initiatives(5) Our ESG Initiatives in 2021EnvironmentSocialExamples of ESG-friendly consulting services, seminars, workshopsNew management diagnosis servicesNet-zero energy housing, high-spec smart house management workshopOpen seminar for logistics industry clients on implementing ESGUpper management professional development seminarsManagement Strategy Seminar covering strategies for the age of labor shortagesSeminars to help develop tomorrow’s female leadersCalculating CO2 emissions under the Greenhouse Gas ProtocolTraining to help proprietors understand decarbonization and action on climate changeManagement consulting on decarbonization (from strategy to implementation)Support for installing renewable energy and energy-efficient facilitiesNew business models for the decarbonization market ageSeminars for female employeesOutcome-focused communication skillsProblem-solving for improved productivityHow to set goals in a way that leads to growthNext-generation upper management candidate training…and much moreSoshiki SanbōHelping clients overcome the obstacles to sustainable organization buildingBusiness Model SanbōHelping clients overcome the obstacles to driving sustainable growthESG DiagnosticsHelping SMEs and mid-scale companies overcome ESG challenges in partnership with the Shoko Chukin BankGovernanceActions implemented and assessed in accordance with the Basic Policy on Information SecurityStudied the level of information security at group companiesRegulations established, manuals compiled, and employees trained accordinglySustainability Committee up and runningAreas for sustainability improvement discussed, goals setReducing the environmental impact of the group’s business processesCalculated CO2 emissions caused by electricity useReduced waste and office paper usage through remote working arrangementsGroupwide targets for 2030Women in management positions: 30%Mid-career hires in management positions: 50%Workforce development and promoting diversityStronger information security© 2022 Funai Soken Holdings Inc.21Consulting services as a vehicle Funai SokenConsulting for the goodof all societyGroupESG initiativesIn order to ensure legal compliance in the running of the company’s business and to drive mid-to-long-term corporate value, the company is working to strengthen its corporate governance structure, and established a Sustainability Committee on July 1.ShareholdersAppointments / dismissalsAppointments/ dismissalsAppointments/ dismissalsBoard of DirectorsAuditsAudit and Supervisory CommitteeNominating CommitteeSuccessor Nominating CommitteeCompensation CommitteeSustainability CommitteeRisk Management CommitteeInternal Control CommitteeGovernance CommitteeOversightInternal Oversight Office2. Outlook and Initiatives(6) Corporate Governance StructureNominating CommitteeEnsures objectivity and validity of the process for selecting candidates for director positions.3 out of 4 members are outside directorsSuccessor Nominating CommitteeEnsures fairness and transparency of selection and nurturing of future presidential candidates.3 out of 4 members are outside directorsCompensation CommitteeEnsures objectivity and validity of officer remuneration by keeping remuneration tied to mid-to-long-term business performance.3 out of 4 members are outside directorsGovernance CommitteeDiscusses governance issues from a mid-to-long-term perspective, and endeavor to strengthen governance.All 4 members are outside directorsSustainability CommitteeCoordinates cross-sectional pursuit of sustainability throughout the whole group, and implement ongoing issues under strict governance.1 out of 2 members are outside directorsExecutive CommitteeAccounting auditorsAccounting auditsPrevious Initiatives to Strengthen the Group’s Governance2019 Established a Successor Nominating Committee, appointed outside directors to the boards of the group’s core companies, appointed in-house attorneys.2020 Appointed 1 female director.2021 Established a Sustainability Committee. The five advisory committees shown to the left are chaired by outside © 2022 Funai Soken Holdings Inc.directors.22Statement Regarding Use of These MaterialsPlans, outlooks, strategies and otherreasonable judgments made in accordance with information currently available.information contained herein are based onActual results may differ greatly from these forecasts for a number of factors.All possible care has been exercised in preparing these materials, butthe FunaiConsulting Group assumes no responsibility for losses or other damages resulting fromerrors concerning any information.These materials are not intended to encourage any kind of investment. Investmentdecisions are the sole responsibility of the individual investor.Funai Soken Holdings, Inc. IR & PR OfficeTEL: +81-(0)6-6232-2010Mail: ir@funaisoken.co.jp URL: https://hd.funaisoken.co.jpOur MissionWe help to build a better future for people, businesses, and societyWe at the Funai Consulting Group will offer solutions for a better future to all the people and businesses we are involved with – and to society as a whole – and will do our best to turn those ideas into reality.Our Vision for the FutureTrusted and respected by society for bringing joy to people and businesses through our workWe are determined to work together as a corporate group to bring joy to the people and businesses we are involved with. By earning the trust and respect of the people and businesses we seek to please, we can also earn the trust and respect of society as a whole.