Third Quarter of Fiscal Year ending June 30, 2021 Supplementary Material on Financial Statements

May 12, 2021

i3 Systems, Inc.

TSE Mothers：4495

Table of Contents

1.

Revisions to Results Forecasts for the

Fiscal Year ending June 30, 2021

P.03

2.

Financial Results for 3rd Quarter of

Fiscal Year ending June 30, 2021

P.06

3.

Reference Materials

P.13

2

1. Revisions to Results Forecasts for the Fiscal Year Ending June 30, 2021

3

Revisions to Results Forecasts for the Fiscal Year Ending June 30, 2021

Net sales increased by 23.4% YoY, to 2,025 million yen,

and operating income increased by 29.3% YoY, to 532 million yen

❶ Full-year results

❷ Full-year results forecast

Rate of Change

Progress rate in 3Q

forecast for FY6/21

(Unit: million yen)

for FY6/21

（❷ ❶）

of FY6/21

(Announced at the

(Announced this time)

beginning of the fiscal year)

Net sales

2,004

(+22.1%)

2,025

(+23.4%)

＋1.0%

71.7%

Operating income

450

(+9.3%)

532

(+29.3%)

＋18.2%

73.4%

Ordinary profit

430

(+7.2%)

522

(+30.1%)

＋21.4%

72.9%

Net income

281

(△11.4%)

387

(+21.8%)

＋37.7%

68.2%

Net income per share

54.42 yen

74.45 yen

* Figures in the parentheses indicate year-on-year rate of change.

4

Reasons for the revisions to the full-year results forecasts for the fiscal year ending June 30, 2021

  • Increase in net sales due to the introduction of telework and improvements in the security environment

Triggered by the explosive spread of COVID-19, corporations' introduction of telework together with the security and other measures associated with that introduction have been expanding more rapidly than expected at the beginning of the fiscal year, so that the pace of increase in the number of corporations having introduced our service accelerated. As a result, full-year net sales are expected to exceed the initial forecast.

The number of corporations having introduced our service amounted to 3,131, and net increase in the number of these corporations was 702 (40.4% YoY) as of the end of 3Q of the current fiscal year.

For the above reason, the net sales forecast was revised.

  • Reduction of expenses due to COVID-19 pandemic and decrease in tax expenses

Because sales activities have been handled remotely, selling, general and administrative expenses are decreasing, so that operating income is expected to exceed the initial forecast. In addition, as a result of carefully examining the collectability of deferred tax assets, the amount posted for deferred tax assets is expected to increase while income taxes-deferred is to be decreased. Consequently, the amount of income taxes is expected to decrease.

For this reason, the forecast for operating income and following profit at each level was revised.

5

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i3 Systems Inc. published this content on 31 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 May 2021 06:01:06 UTC.