ＩＭＶ（7760） – [Delayed]Summary of Consolidated Financial Results for the Second Quarter of the Fiscal Year Ending September 30, 2022

Summary of Consolidated Financial Results for the Second Quarter of the Fiscal Year Ending September 30, 2022 (Six Months Ended March 31, 2022) Company name: Stock code: Representative: Contact: IMV CORPORATION 7760 Jumpei Kojima, President Hiroji Okamoto, Managing Director, General Manager, Management Planning Division Scheduled date of filing of Quarterly Report: Scheduled date of payment of dividend: Preparation of supplementary materials for quarterly financial results: None None Holding of quarterly financial results meeting: May 12, 2022 – May 12, 2022 [Japanese GAAP] Listing: Tokyo Stock Exchange URL: http://www.imv.co.jp/ Tel: +81-6-6478-2565 (All amounts are rounded down to the nearest million yen) 1. Consolidated Financial Results for the Second Quarter (October 1, 2021 – March 31, 2022) of the Fiscal Year Ending September 30, 2022 (1) Consolidated results of operations Net sales Operating profit Ordinary profit Six months ended Mar. 31, 2022 Six months ended Mar. 31, 2021 Note: Comprehensive income (million yen) Million yen 5,976 6,340 (5.7) % Million yen 491 898 % Million yen 702 (45.3) 1.0 Six months ended Mar. 31, 2022: 473 (down 40.3%) Six months ended Mar. 31, 2021: 794 (up 155.5%) 1,125 126.3 83.2 (Percentages represent year-on-year changes) Profit attributable to owners of parent (37.6) % % Million yen 577 (27.7) 799 143.1 Net income per share Diluted net income per share Yen – – Yen 35.46 49.06 Total assets Net assets Equity ratio Million yen 16,921 17,121 Million yen 7,803 7,529 As of Mar. 31, 2022: 7,803 % 46.1 43.9 As of Sep. 30, 2021: 7,514 Six months ended Mar. 31, 2022 Six months ended Mar. 31, 2021 (2) Consolidated financial position As of Mar. 31, 2022 As of Sep. 30, 2021 Reference: Shareholders’ equity (million yen) 2. Dividends 1Q-end 2Q-end Year-end Total Dividend per share 3Q-end Yen – – Yen 0.00 0.00 Yen – Yen 10.00 Yen 10.00 – 10.00 10.00 Fiscal year ended Sep. 30, 2021 Fiscal year ending Sep. 30, 2022 Fiscal year ending Sep. 30, 2022 (forecasts) Note: Revisions to the most recently announced dividend forecast: None 3. Consolidated Forecast for the Fiscal Year Ending September 30, 2022 (October 1, 2021 – September 30, 2022) Net sales Operating profit Ordinary profit % Million yen 1,250 7.8 Note: Revisions to the most recently announced consolidated forecast: None % Million yen 1,150 8.0 Million yen 12,500 Full year (Percentages represent year-on-year changes) Profit attributable to owners of parent Net income per share % Million yen 900 (4.6) % (3.9) Yen 55.23 * Notes (1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in change in scope of consolidation): None Newly added: – Excluded: – (2) Application of special accounting methods for presenting quarterly consolidated financial statements: None (3) Changes in accounting policies and accounting-based estimates, and restatements 1) Changes in accounting policies due to revisions in accounting standards, others: Yes 2) Changes in accounting policies other than 1) above: 3) Changes in accounting-based estimates: 4) Restatements: None None None (4) Number of shares issued (common shares) 1) Number of shares issued (including treasury shares) at the end of the period As of Mar. 31, 2022: 16,957,016 shares As of Sep. 30, 2021: 16,957,016 shares 2) Number of treasury shares at the end of the period 3) Average number of shares issued during the period As of Mar. 31, 2022: 663,484 shares As of Sep. 30, 2021: 663,484 shares Six months ended Mar. 31, 2022: 16,293,532 shares Six months ended Mar. 31, 2021: 16,293,564 shares Note: The current quarterly financial report is not subject to quarterly review by certified public accountants or auditing firms. IMV CORPORATION (7760) Financial Results for the Second Quarter of FY9/22 Contents of Attachments 1. Qualitative Information on Quarterly Consolidated Financial Performance (1) Explanation of Results of Operations (2) Explanation of Financial Position (3) Our Efforts to Mitigate the Impact of COVID-19 (4) Explanation of Consolidated Forecast and Other Forward-looking Statements 2. Quarterly Consolidated Financial Statements and Notes (1) Quarterly Consolidated Balance Sheet (2) Quarterly Consolidated Statements of Income and Comprehensive Income (3) Quarterly Consolidated Statement of Cash Flows (4) Notes to Quarterly Consolidated Financial Statements Going Concern Assumption Significant Changes in Shareholders’ Equity 3. Others Production, Orders and Sales 2 2 3 4 4 5 5 7 9 10 10 10 11 11 1 IMV CORPORATION (7760) Financial Results for the Second Quarter of FY9/22 1. Qualitative Information on Quarterly Consolidated Financial Performance (1) Explanation of Results of Operations Forward-looking statements contained herein are based on the Group’s judgment as of March 31, 2022. (1) Results of Operations During the first half of the current fiscal year, the outlook for the global economy remained more uncertain than ever due to concerns about the spread of COVID-19 and the shortage of electronic components caused by delays in the supply of semiconductors, as well as soaring energy prices following Russia’s invasion of Ukraine and the subsequent economic sanctions on Russia imposed by various governments in response. Meanwhile, amid the ongoing global trend toward decarbonization, we expect that the shift to electric vehicles will continue to accelerate going forward, which helps keep the capital investment environment robust in the market for electric vehicle components, batteries, and other related products. Under such circumstances, the Group has announced its medium-term management plan, with the current fiscal year as its first year, based on the basic policy of “breaking away from the mere business of selling products” in accordance with its corporate philosophy, “Secure the Future – For the safety and security -.” In order to achieve sustainable growth while responding to social changes, we are working on various measures to create new value through understanding the potential needs of customers. Under the plan, we aim to achieve net sales of 14.6 billion yen and operating profit of 1.5 billion yen in the fiscal year ending September 30, 2024, the final year of our medium-term management plan. Results of operations for the first half of the current fiscal year are as follows: Net sales decreased by 364 million yen year on year to 5,976 million yen due to sluggish growth in dynamic simulation systems and measuring systems. Earnings suffered from a lack of sales from high-margin projects that were recorded in the same period of the previous fiscal year and lower sales in the first half of the current fiscal year. Operating profit decreased by 406 million yen to 491 million yen, ordinary profit decreased by 422 million yen to 702 million yen and profit attributable to owners of parent decreased by 221 million yen to 577 million yen. Business results by product category were as follows: 1) Dynamic Simulation Systems In the overseas market, we enjoyed orders for large-scale projects for electric vehicles in China and Europe. In the service sector, sales increased year on year due to strong demand for amplifier renewals and overhaul services. In the domestic market, sales of energy-saving vibration simulation systems for the automotive industry remained strong, but overall sales declined year on year in reaction to large-scale projects for aerospace manufacturing and nuclear power plants that were recorded in the same period of the previous fiscal year. As a result, category sales decreased by 252 million yen year on year to 4,359 million yen. 2) Test and Solution Services In the domestic market, although sales were sluggish in the first half of the previous fiscal year because outsourced testing services were postponed due to restrictions on economic activity in the wake of the spread of COVID-19, the first half of the current fiscal year saw a recovery, mainly in the testing for electric vehicle components and batteries. In addition, sales from EMC testing and environmental testing at the e-Test Centre Japan (e-TCJ) also grew. However, as there was no development project of electric vehicles in the ASEAN market on a temporary basis, sales were lower than the same period of the previous fiscal year. As a result, category sales increased by 66 million yen year on year to 1,177 million yen. 3) Measuring Systems In the domestic market, sales declined year on year due to the completion of the renewal period of vibration monitoring systems for nuclear power plants, supply shortages of electronic components, and sluggish sales of 2 IMV CORPORATION (7760) Financial Results for the Second Quarter of FY9/22 vibration measurement systems for various plants. In the overseas market, sales of seismic monitoring systems for the Philippines, a mainstay product, were sluggish due to the impact of COVID-19, resulting in lower sales than in the same period of the previous fiscal year. As a result, category sales decreased by 178 million yen year on year to 439 million yen. (2) Explanation of Financial Position Assets Total assets decreased by 200 million yen from the end of the previous fiscal year to 16,921 million yen at the end of the second quarter of the current fiscal year. Current assets decreased by 1 million yen to 11,271 million yen. This was attributable to a 304 million yen decrease in cash and deposits, despite a 145 million yen increase in trade receivables and a 150 million yen increase in inventories. Non-current assets decreased by 199 million yen to 5,649 million yen. This was mainly attributable to a 123 million yen decrease in investment securities. Liabilities Total liabilities decreased by 473 million yen from the end of the previous fiscal year to 9,117 million yen at the end of the second quarter of the current fiscal year. Current liabilities increased by 252 million yen to 7,660 million yen. This was mainly attributable to a 334 million yen increase in current portion of long-term loans payable. Non-current liabilities decreased by 726 million yen to 1,457 million yen. This was mainly attributable to a 715 million yen decrease in long-term borrowings. Net assets Net assets increased by 273 million yen from the end of the previous fiscal year to 7,803 million yen at the end of the second quarter of the current fiscal year. This was mainly attributable to a 417 million yen increase in retained earnings. As a result, the equity ratio increased 2.2 percentage points to 46.1%. (3) Cash Flows The balance of cash and cash equivalents as of March 31, 2022 decreased by 313 million yen from the end of the previous fiscal year to 3,339 million yen. (Cash flows from operating activities) Net cash provided by operating activities during the first half of the current fiscal year decreased by 563 million yen year on year to 164 million yen. This was mainly due to an increase in notes and accounts receivable – trade of 118 million yen and income taxes paid of 395 million yen. (Cash flows from investing activities) Net cash provided by investing activities during the first half of the current fiscal year increased by 101 million yen year on year to 52 million yen. This was mainly due to proceeds from sales of investment securities of 195 million yen and purchase of property, plant and equipment of 122 million yen. (Cash flows from financing activities) Net cash used in financing activities during the first half of the current fiscal year amounted to 570 million yen, compared with net cash used of 434 million yen in the same period of the previous fiscal year. This was primarily due to repayment of long-term loans payable of 383 million yen. 3 IMV CORPORATION (7760) Financial Results for the Second Quarter of FY9/22 (3) Our Efforts to Mitigate the Impact of COVID-19 To deal with the various issues associated with the spread of COVID-19, the Company is taking various measures under the leadership of the Management Planning Division with the support of internal and external experts. Specifically, we have developed guidance for employees about the spread of the COVID-19 pandemic, handled vaccine-related matters, and strengthened the infection control measures in place for essential operations. Furthermore, as a measure to ensure the safety of our employees, we are continuing to apply our telecommuting policies and to support this initiative with information technology. In addition, our post-COVID-19 convergence workplace strategy will enable us to realize the creation and implementation of an optimal working environment through measures such as the promotion of a paperless workplace built around telecommuting. In addition, we are taking measures to ensure the safety of our employees as well as our customers by recommending that meetings with customers be conducted using web conferencing systems and by providing test videos remotely for contract testing. While we are continuing to monitor the situation closely, we will maintain the restrictions on unnecessary and non-urgent travel and on the holding of, or participation in, large gatherings until such time as a new policy is put in place. (4) Explanation of Consolidated Forecast and Other Forward-looking Statements These projections are based on information available at the time of release of this report. Actual results may differ from projections due to a variety of reasons. 4 IMV CORPORATION (7760) Financial Results for the Second Quarter of FY9/22 FY9/21 (As of Sep. 30, 2021) Second quarter of FY9/22 (As of Mar. 31, 2022) (Thousands of yen) 2. Quarterly Consolidated Financial Statements and Notes (1) Quarterly Consolidated Balance Sheet Assets Current assets Cash and deposits Notes and accounts receivable-trade Electronically recorded monetary claims-operating 11,272,223 11,271,779 3,883,973 3,257,285 845,584 732,895 1,568,050 769,787 219,661 (5,015) 2,349,397 1,935,656 839,264 5,124,318 53,370 20,316 73,687 651,545 5,849,552 17,121,775 1,216,096 868,991 2,270,003 1,027,885 398,015 424,160 441,278 85,758 46,000 629,998 7,408,187 – 1,909,643 187,080 48,147 38,844 2,183,715 9,591,902 3,579,595 3,367,721 880,443 699,563 1,670,902 850,973 227,747 (5,167) 2,273,264 1,935,656 836,840 5,045,762 64,035 4,449 68,484 535,575 5,649,822 16,921,601 1,223,091 1,019,031 2,270,000 1,361,954 353,726 401,756 255,608 17,634 34,000 8,112 715,909 7,660,822 1,194,259 175,529 49,289 38,051 1,457,129 9,117,952 Finished goods Work in process Raw materials Other Allowance for doubtful accounts Total current assets Non-current assets Property, plant and equipment Buildings and structures, net Total property, plant and equipment Land Other, net Intangible assets Software Other Total intangible assets Investments and other assets Total non-current assets Total assets Liabilities Current liabilities Notes and accounts payable-trade Electronically recorded obligations-operating Short-term borrowings Current portion of long-term borrowings Accounts payable-other Accrued expenses Income taxes payable Accrued consumption taxes Provision for product warranties Provision for share-based compensation Other Total current liabilities Non-current liabilities Long-term borrowings Long-term accounts payable-other Asset retirement obligations Other Total non-current liabilities Total liabilities 5 IMV CORPORATION (7760) Financial Results for the Second Quarter of FY9/22 FY9/21 (As of Sep. 30, 2021) Second quarter of FY9/22 (As of Mar. 31, 2022) (Thousands of yen) Net assets Shareholders’ equity Share capital Capital surplus Retained earnings Treasury shares Total shareholders’ equity Accumulated other comprehensive income Valuation difference on available-for-sale securities Foreign currency translation adjustment Total accumulated other comprehensive income Non-controlling interests Total net assets Total liabilities and net assets 464,817 554,974 6,523,565 (143,762) 7,399,594 98,338 16,382 114,720 15,556 7,529,872 17,121,775 464,817 537,104 6,940,987 (143,762) 7,799,146 18,166 (13,663) 4,503 – 7,803,649 16,921,601 6 IMV CORPORATION (7760) Financial Results for the Second Quarter of FY9/22 (2) Quarterly Consolidated Statements of Income and Comprehensive Income Quarterly Consolidated Statement of Income For the Six-month Period First six months of FY9/21 (Oct. 1, 2020 – Mar. 31, 2021) First six months of FY9/22 (Oct. 1, 2021 – Mar. 31, 2022) (Thousands of yen) Selling, general and administrative expenses Net sales Cost of sales Gross profit Operating profit Non-operating income Interest income Dividend income Foreign exchange gains Rental income Seminar income Subsidy income Miscellaneous income Total non-operating income Non-operating expenses Interest expenses Seminar expenses Miscellaneous loss Total non-operating expenses Ordinary profit Extraordinary income Gain on sale of investment securities Gain on sale of shares of subsidiaries Total extraordinary income Extraordinary losses Loss on retirement of non-current assets Total extraordinary losses Profit before income taxes Income taxes-current Income taxes-deferred Total income taxes Profit Profit attributable to non-controlling interests Profit attributable to owners of parent 6,340,513 4,263,618 2,076,894 1,178,241 898,653 472 1,852 146,207 20,309 4,817 52,307 20,412 246,379 12,586 3,978 3,398 19,963 1,125,069 – – – 633 633 1,124,435 317,740 1,311 319,051 805,384 5,981 799,402 5,976,328 3,984,894 1,991,433 1,499,743 491,689 83 2,909 211,330 4,732 4,334 – 2,630 226,022 10,489 3,693 1,364 15,547 702,164 82,605 38,194 120,799 52 52 822,911 226,848 13,609 240,457 582,454 4,660 577,794 7 IMV CORPORATION (7760) Financial Results for the Second Quarter of FY9/22 Quarterly Consolidated Statement of Comprehensive Income For the Six-month Period Profit Other comprehensive income Valuation difference on available-for-sale securities Foreign currency translation adjustment Total other comprehensive income Comprehensive income Comprehensive income attributable to Comprehensive income attributable to owners of parent Comprehensive income attributable to non-controlling interests First six months of FY9/21 (Oct. 1, 2020 – Mar. 31, 2021) First six months of FY9/22 (Oct. 1, 2021 – Mar. 31, 2022) (Thousands of yen) 805,384 (1,173) (10,178) (11,352) 794,031 791,014 3,017 582,454 (80,171) (28,371) (108,543) 473,910 467,575 6,334 8 IMV CORPORATION (7760) Financial Results for the Second Quarter of FY9/22 First six months of FY9/21 (Oct. 1, 2020 – Mar. 31, 2021) (Thousands of yen) First six months of FY9/22 (Oct. 1, 2021 – Mar. 31, 2022) (3) Quarterly Consolidated Statement of Cash Flows Cash flows from operating activities Profit before income taxes Depreciation Loss (gain) on sale of investment securities Loss (gain) on sale of shares of subsidiaries Amortization of goodwill Increase (decrease) in allowance for doubtful accounts Increase (decrease) in provision for share-based compensation Increase (decrease) in provision for product warranties Interest and dividend income Rental income Interest expenses Foreign exchange losses (gains) Loss on retirement of non-current assets Subsidy income Decrease (increase) in trade receivables Decrease (increase) in inventories Increase (decrease) in trade payables Other, net Subtotal Interest paid Interest and dividends received Proceeds from subsidy income 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 into time deposits Proceeds from sale of shares of subsidiaries Other, net Net cash provided by (used in) investing activities Cash flows from financing activities Net increase (decrease) in short-term borrowings Repayments of long-term borrowings Repayments of finance lease obligations Dividends paid Purchase of shares of subsidiaries not resulting in change in scope of consolidation Net cash provided by (used in) financing activities Effect of exchange rate change on cash and cash equivalents Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period 9 1,124,435 285,599 – – – 4,185 (540) (2,050) (2,324) (20,309) 12,586 (57,764) 633 (52,307) (996,491) 9,403 407,222 (36,957) 675,320 2,337 (12,554) 52,307 (19,053) 30,242 728,599 (45,451) (2,980) (8,416) (9,010) 17,416 (48,442) (50,065) (260,688) (2,278) (121,229) (434,262) 53,556 299,451 2,839,536 3,138,987 – – – 822,911 273,051 (38,194) (82,605) – 20 8,112 (12,000) (2,993) (4,732) 10,489 (71,867) 52 – (118,267) (99,791) (11,582) (104,881) 567,721 2,993 (10,626) (395,348) 164,739 – – (122,159) (3,162) (102,676) 195,756 (9,001) 95,006 (958) 52,803 (3) (383,497) (261) (161,529) (25,525) (570,817) 39,893 (313,380) 3,652,453 3,339,072 IMV CORPORATION (7760) Financial Results for the Second Quarter of FY9/22 (4) Notes to Quarterly Consolidated Financial Statements Going Concern Assumption Not applicable. Significant Changes in Shareholders’ Equity Not applicable. 10 IMV CORPORATION (7760) Financial Results for the Second Quarter of FY9/22 3. Others Production Production, Orders and Sales Dynamic Simulation Systems Test and Solution Services Measuring Systems Total Orders Dynamic Simulation Systems Test and Solution Services Measuring Systems Total Order backlog First six months of FY9/21 (Oct. 1, 2020 – Mar. 31, 2021) First six months of FY9/22 (Oct. 1, 2021 – Mar. 31, 2022) YoY (%) Thousands of yen % Thousands of yen % 4,596,231 1,110,474 617,352 6,324,058 4,365,274 1,082,098 579,301 6,026,674 72.7 17.6 9.7 100.0 72.4 18.0 9.6 100.0 4,081,557 1,176,944 442,812 5,701,314 4,633,742 1,217,138 491,588 6,342,469 71.6 20.6 7.8 100.0 73.1 19.2 7.7 100.0 First six months of FY9/21 (Oct. 1, 2020 – Mar. 31, 2021) First six months of FY9/22 (Oct. 1, 2021 – Mar. 31, 2022) YoY (%) Thousands of yen % Thousands of yen % First six months of FY9/21 (Oct. 1, 2020 – Mar. 31, 2021) First six months of FY9/22 (Oct. 1, 2021 – Mar. 31, 2022) YoY (%) Thousands of yen % Thousands of yen % Dynamic Simulation Systems Test and Solution Services Measuring Systems 3,387,336 239,931 254,427 87.3 6.2 6.5 3,922,683 346,618 266,466 86.5 7.6 5.9 Total 3,881,695 100.0 4,535,768 100.0 First six months of FY9/21 (Oct. 1, 2020 – Mar. 31, 2021) First six months of FY9/22 (Oct. 1, 2021 – Mar. 31, 2022) YoY (%) Thousands of yen % Thousands of yen % Dynamic Simulation Systems Test and Solution Services Measuring Systems Total 4,611,696 1,111,030 617,786 6,340,513 72.7 17.5 9.8 100.0 4,359,594 1,177,244 439,489 5,976,328 72.9 19.7 7.4 100.0 88.8 106.0 71.7 90.2 106.2 112.5 84.9 105.2 115.8 144.5 104.7 116.9 94.5 106.0 71.1 94.3 Sales * This financial report is solely a translation of “Kessan Tanshin” (in Japanese, including attachments), which has been prepared in accordance with accounting principles and practices generally accepted in Japan, for the convenience of readers who prefer an English translation. 11