New Medium-term Management Plan 2027

• Introduced new services and promoted orders in response to the electronic convocation notices. In addition, progress in the shift to electronic convocation notices was slower than expected, which allowed us to offset the negative impact.
  ⇒There are continuing issues such as the expected continued progress in digitization and the postponement of the expected paperless delivery of investment trust prospectus to the new plan.
• Sales of non-printing services, such as web and English translation services, continued to increase.
• The Company expanded its event-related business through mergers and acquisitions, as well as launched human resource recruitment support services and other initiatives in new business areas.
  ⇒ The challenge for the new plan is to steadily scale these efforts.

1. The majority of the revenue from the Notice of Convocation had been recorded in the printing business, but from the fiscal year ended March 31, 2024, sales related to the creation of electronic data, which is the main deliverable, and sales related to the accompanying printing were separately recorded.
2. In the fiscal year ending March 2025, we recorded an impairment loss of 2,503 million yen on goodwill of a consolidated subsidiary, resulting in a significant decrease in profits.
3. The Company pays stable dividends with a target dividend payout ratio of 50% or more.

• The system for the electronic provision of convocation notices was implemented starting from the general meetings of shareholders held in March 2023
• The shift to electronic convocation notices has been gradual, with revenue increases driven by new services responsive to electronic provision and promotion of orders

■ Status of electronic convocation notices

■ Revenue related to materials for the general meetings of shareholders

Higher revenue in non-printing businesses driven by Web-related business, English translation, BPO, and non-financial information services

■ Non-printing business revenue/ratio

• From the fiscal year ended March 2024, convocation notice contents production and electronic provision revenue was recategorized from printing business to non-printing business. Of the 6,300 million yen increase in revenue, approximately 1,800 million yen was the result of the above recategorization.

■ Major non-printing services revenue

To expand into the new domain of event-related business, Cine Focus was made a consolidated subsidiary in March 2023.
To accelerate the expansion of human resources recruitment support, we entered into a capital and business alliance with ACCESS GROUP HOLDINGS in January 2025.

From "Disclosure and IR Support" Company
to "Corporate Communication Support" Company

In 2020, the Company revised its management philosophy that had been limited to the “disclosure and investor relations” domains. Its new business domains are “information communication” and “documentation”, and its vision is "Becoming a leading Niche-focused Corporate Group with Specialized services Unrivaled in the World" toward our 100th anniversary in 2030.
The new plan is positioned as a milestone toward achieving the 2030 Vision, and in order to increase the certainty of its realization, it has been decided to formulate specific directions and coefficient targets for the Company and its group companies ("the Group") as follows.

As the business environment becomes increasingly uncertain, listed companies will increasingly need to expand the disclosure of non-financial information, such as sustainability information and human capital, and enhance dialogue with stakeholders.
Leveraging the know-how it has cultivated, the Company aims to evolve into a “Corporate Communication Support” Company that provides a one-stop link between listed companies and all stakeholders, including not only shareholders and investors but also job seekers, employees and clients.In addition, as of 2030 (fiscal year ending March 31, 2031), the Company set a consolidated revenue image of 40 billion yen for the existing stable disclosure and investor relations areas on the condition that, based on past performance trends, efforts in new business areas in the previous mid plan are scaled to a certain scale, and adding expansion of business areas through M&A as an important growth driver.

■ Sales scale for 2030

■ Image of expansion of business domains

As mentioned above, as there is a continued need to expand information disclosure and enhance dialogue, simultaneous disclosure of timely information by TSE Prime listed companies in Japanese and English will be made mandatory, and the Company anticipates an increase in English translation needs.

As the birthrate continues to decline and the population ages, it will become increasingly difficult for domestic companies to secure a workforce. In addition, diverse and flexible working styles will be required, and the Company expects that there will continue to be need for support for hiring human resources and improving operational efficiency.

The electronic delivery system for investment trust prospectuses and investment reports, which was postponed from the previous mid plan, will be fully introduced. The Company also expects further progress in the computerization of convocation notices and a certain decrease in printing sales.

The Company has transactions with more than 2,000 listed companies and approximately 300 investment trust management companies on an ongoing basis. The number of listed companies and the number of funds handled by investment trust management companies are expected to gradually decrease in the future due to the market reforms of the Tokyo Stock Exchange and the Financial Services Agency's efforts to protect investors.

• As a precondition, the negative impact of the decrease in printing sales mainly due to the shift to paperless investment trust prospectuses and the progress of electronic convocation notices is factored in.
• The figures reflect an increase in revenue due to an increase in orders for English translation services and the expansion of event-related businesses and human resource recruitment support services which are identified as new business areas.
• In order to clarify the operating profit of our main business as we promote New Plan, we will disclose "core operating profit" excluding non-recurring profits and losses such as impairment losses due to M&A as follows.

May 9.2025 release:Announcement on the Formulation of “New Medium-Term Management Plan 2027”［View PDF］