GungHo Online Entertainment : Supplementary Material on Consolidated Operating Results for Fiscal Year Ended December 31, 2019

February 13, 2020

GungHo Online Entertainment, Inc.

Consolidated Financial Results for FY 2019 Supplementary Material

YoY sales and income increased due to contributions from P&D and Ragnarok M

1. Summary of Consolidated Financial Results for the Full Year
	(Millions of yen)	FY2017	FY2018	FY2019	Change Ratio
	Y on Y
	Net sales	92,306	92,101		101,392		10.1%
	Cost of goods	35,765	42,640		48,168		13.0％
	Gross profit	56,540	49,460		53,223		7.6%
	SG&A	22,155	22,883		24,874		8.7％
	Operating income	34,384	26,577		28,349		6.7%
	Operating income margin	37.3%	28.9%		28.0%		-0.9p
	Ordinary income	34,351	26,659		28,617		7.3%
	Profit before income tax	33,109	25,430		27,677		8.8%
	Profit attributable to	22,397	16,585		18,146		9.4%
	owners of parent

• Puzzle & Dragons and Ragnarok M contributed to increased YoY sales and income

for the full financial year

【Net sales】

As for existing games, "Puzzle & Dragons" (referred to as "P&D" henceforth) has had continuous updates and events held, such as adding new dungeons, improving game contents, collaborating with famous characters from other companies, and holding e-sports events, all with the main objective of providing players with the ability to have continued long-term enjoyment of the game. Sales for "P&D" have been favorable due to the implementation of initiatives aimed at reinvigorating MAU as well as the continuous implementation of measures to capture new users, including the production of a TV anime series. Additionally, "the latest entry in the ʻP&Dʼ series, ʻPuzzle & Dragons GOLDʼ for the Nintendo Switch™" went on sale on January 15, 2020.

As for new games, the MAU for "Ragnarok Masters," which began service in Japan on June 5, 2019, has remained firm due to the implementation of in-game events and TV commercials. "TEPPEN," a card game developed jointly with Capcom Co. Ltd. for smartphones, began service on July 4, 2019*2 in North America and Europe, and on August 8 in Asia and Japan. The total number of downloads of "TEPPEN" exceeded 4 million as of November 19, 2019, due to the active hosting of e-sports events both within and outside of Japan as well as due to the implementation of advertising campaigns, including TV commercials.

Regarding subsidiary-related business, sales of "Ragnarok M: Eternal Love" (distributed by GRAVITY Co., Ltd.) in regions where the game is currently being distributed have settled compared to its sales when first distributed, but ongoing updates and events have resulted in stable sales, and it continues to contribute to our groupʼs consolidated results.

As a result of the above, net sales increased year-on-year at 101,392 million yen (an increase of JPY 9,291 million year on year).

1

【Gross profit】

The gross profit margin decreased by 1.2% to 52.5% due to a rise in the ratio of sales for GRAVITY, which has a high sales-cost. However, as consolidated sales increased, gross profit amounted to JPY 53,223 million (an increase of JPY 3,763 million year-on-year).

【Operating income】

In regard to advertising expenses, which are among the SG&A expenses, although SG&A expenses increased year on year due to the occurrence of advertising expenses related to the distribution of "TEPPEN" and "Ragnarok Masters," an operating income of JPY 28,349 million (an increase of JPY 1,771 million year-on-year) was recorded due to an increase in net sales.

2. Summary of Quarterly Consolidated Financial Results

(Millions of yen)		2018			2019
1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
Net sales	21,899	20,807	19,056	30,337	35,073	23,603	23,363		19,351
Cost of sales	9,796	9,098	7,987	15,758	17,226	10,678	10,886		9,376
Gross profit	12,103	11,708	11,069	14,578	17,846	12,925	12,477		9,975
SG&A	5,642	5,937	6,036	5,267	4,843	5,488	7,413		7,129
Salary and	834	862	827	1,125	877	886	1,017		1,016
allowances
Advertising expenses	2,593	2,703	2,724	1,739	1,632	2,145	3,434		3,103
Others	2,214	2,371	2,484	2,402	2,333	2,456	2,677		2,681
Operating income	6,461	5,771	5,033	9,311	13,003	7,436	5,063		2,845
Operating income	29.5%	27.7%	26.4%	30.7%	37.1%	31.5%	21.7%		14.7%
margin
Ordinary income	6,272	5,965	5,185	9,236	13,089	7,430	5,215		2,881
Quarterly profit	6,211	5,630	4,859	8,728	13,066	7,412	5,306		1,893
before income taxes
Quarterly profit
attributable to owners	4,052	3,548	3,000	5,984	8,485	4,852	3,467		1,340
of parent

■ MAU for "P&D" remained firm due to the implementation of the Appreciation Celebration and year-endevents

【Net sales】

For the 4th quarter, MAU For "P&D" remained firm due to the P&D Appreciation Celebration as well as collaborations with IPs from other companies and year-end events that began in November 2019. Additionally, we introduced the "P&D Pass," a new subscription service priced at JPY 980 per month. As for "TEPPEN," which began service on July 4, 2019, we have been working to expand its user base and raise awareness through TV commercials, e-sports events, and others. "Ragnarok Masters," which began service on June 5, 2019, has been stable since due to on-going seasonal events and updates.

Sales of "Ragnarok M: Eternal Love," which is being deployed globally by GRAVITY, have settled compared to when it was first distributed and remained stable. "Ragnarok Tactics" began service in Thailand on November 8, 2019, and this title began service in other areas in Southeast Asia as well on January 2, 2020.

As a result of the above, net sales for the fourth quarter of the year was 19,351 million yen (a decline of JPY 4,012 million quarter on quarter).

【Gross profit】

Consolidated gross profit for the current 4th quarter was JPY 9,975 million (a decrease of JPY 2,502 million yen from the previous quarter) due to a decline in net sales. The gross profit margin was 51.5% (a 1.9% decrease from the previous quarter) due to a higher ratio of sales related to "Ragnarok M," which has a high sales-cost ratio.

2

【Operating income】 [Salary and allowances]

As of the end of the 4th quarter, the number of GungHo non-consolidated employees was 395 (an increase of 1 from the previous year, and a decrease of 4 from the previous quarter), and the number of consolidated employees was 1,251 (an increase of 99 from the previous year, and an increase of 45 from the previous quarter). Due to bonus payments in the 4th quarter, salary allowances increased by JPY 208 million from the previous quarter, amounting to JPY 1,017 million.

[Advertising expenses]

For the current 4th quarter, in addition to continuous TV commercials for "P&D" in Japan, there were also TV commercials and events for "TEPPEN," as well as TV commercials for "Ragnarok Masters." However, there was a decrease of JPY 519 million from the previous quarter, amounting to JPY 3,434 million.

As a result, operating income for the fourth quarter of the year was JPY 2,845 million (a decline of JPY 2,218 million quarter on quarter).

• MAU remains stable due to P&D Appreciation Celebration and year-end events

Trend of P&D MAU and payment rate in Japan

P&D MAU in Japan

Payment rate

Start of TV commercial

Word-of-mouth

2012.2	4 5 6 7 8	10 11	2013.1	3 4 5 6 7 8	10 11	2014.1	3 4 5 6 7 8	10 11	2015.1	3 4 5 6 7 8	10 11	2016.1	3 4 5 6 7 8	10 11	2017.1	3 4 5 6 7 8	10 11	2018.1	3 4 5 6 7 8	10 11	2019.1	3 4 5 6 7 8	10 11 12
3	9	12	2	9	12	2	9	12	2	9	12	2	9	12	2	9	12	2	9	12	2	9

P&D was released for iPhone in February 2012. Initially, we carried out promotional activities mainly based on a word-of-mouth approach. Subsequently, when the Android version was released in September 2012, we launched a TV commercial in the following month. With the rapid penetration of smartphones, the number of DLs grew.

The number of DLs continued to increase steadily thereafter and exceeded 51 million as of January, 2019. Additionally, the number already accounts for over 70% of the smartphone users of 67,520,000 (source: Nielsen Digital Co., Ltd., as of May 2018), reflecting a wide reach of P&D in the current market with one of the highest popularityin the nation.

3

• Trend of non-consolidated net sales

Non-consolidated monthly net sales

2017.1

2

3

4

5

6

7

8

9

10

11

12

2018.1

2

3

4

5

6

7

8

9

10

11

12

2019.1

2

3

4

5

6

7

8

9

10

11

12

Regarding the non-consolidated monthly sales of GungHo, as a result of implementing monthly in-game events, etc. the Company has been posting high profits for a long time backed by a stable, outstanding level of MAU despite some fluctuations of sales in results from month to month.

■ Trend of consolidated net sales
・ Net sales concluded with an increase in income for the full financial year due to contributions from "P&D" and
	"Ragnarok M"
・ For the consolidated group excluding GRAVITY, MAU remained firm due to favorable conditions for the P&D
	Appreciation Celebration and year-end events conducted in the 4th quarter of 2019
・ Gravity's Ragnarok	M remains stable	in existing distribution	areas. "Ragnarok Tactics" began service in
	Thailand in November 2019 and also in other areas in South ast Asia in January 2020.
						Trend of consolidated net sales
（	Unit: millions of yen	）		Consolidated net sales excluding GRAVITY	GRAVITY
									35,073
35,000										30,337
30,000	25,723	23,432	22,309 21,899 20,807 19,056		12,976	23,603 23,363
25,000	1,945		2,404	20,840	10,886		6,685	5,821	19,351
20,000					2,111	6,582	6,360	6,073	4,250					6,103
15,000	23,778	21,027 18,728 15,727 15,539 14,733 14,806		22,097
10,000		19,451		16,918 17,542	13,247
5,000
	0	1Q		2Q		3Q	4Q	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
					2017			2018			2019

*Net sales indicate figure after consolidated adjustment.

4

■ Consolidated Balance Sheet														(Unit: Millions of yen)
		2016			2017			2018			2019
	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
Current assets	97,959	108,669	35,731	47,183	49,721	58,240	59,940	70,913	69,677	74,065	73,990	88,376	95,244	92,233	94,066	94,840
Cash and deposits	85,629	95,813	25,726	33,876	36,375	44,613	46,424	56,031	56,377	62,088	63,049	74,322	79,066	79,414	82,786	86,225
Accounts receivable-trade	9,263	9,443	6,579	9,063	10,462	10,518	8,870	10,694	9,766	8,439	8,582	11,739	14,210	9,837	8,989	6,775
Short-term investment securities	1,120	1,015	1,245	1,302	1,352	1,326	3,079	1,949	1,896	1,585	145	394	442	1,397	450	282
Work in process	29	48	68	82	53	103	141	174	278	331	394	68	24	87	86	43
Deferred tax assets	407	793	311	517	156	307	130	233	106	196	95	250	0	0	0	0
Others	1,509	1,553	1,800	2,341	1,322	1,370	1,294	1,829	1,250	1,422	1,723	1,599	1,499	1,496	1,752	1,513
Non-current assets	9,785	10,066	9,583	7,848	6,674	6,240	6,414	7,157	6,930	7,321	7,193	7,656	8,656	9,484	9,989	10,168
Property,plant and equipment	509	1,067	913	814	746	665	576	522	465	475	418	325	651	689	747	746
Intangible assets	3,802	3,677	2,973	2,397	1,443	880	1,205	1,642	1,753	1,856	1,794	2,077	2,731	3,507	3,807	3,678
Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Software	600	572	833	1,876	871	184	230	307	567	668	573	141	130	195	670	265
Software in progress	3,123	3,017	2,052	433	478	599	876	1,112	1,080	1,077	1,110	1,821	2,485	3,203	3,022	3,287
Others	77	87	87	88	93	96	99	221	105	110	110	115	115	108	114	124
Investments and other assets	5,473	5,321	5,697	4,636	4,484	4,694	4,632	4,991	4,711	4,989	4,979	5,252	5,273	5,287	5,433	5,742
Investment securities	1,524	1,392	1,368	349	335	334	336	481	108	73	75	74	74	71	72	72
Deferred tax assets	621	677	981	1,116	1,097	1,497	1,397	1,691	1,658	1,735	1,715	2,183	2,214	2,160	2,193	2,669
Others	3,327	3,251	3,347	3,170	3,051	2,861	2,897	2,818	2,943	3,180	3,189	2,995	2,984	3,055	3,167	3,000
Total assets	107,745	118,735	45,315	55,032	56,396	64,480	66,355	78,070	76,607	81,386	81,184	96,032	103,900	101,718	104,055	105,008
Current liabilities	11,930	15,286	8,199	12,822	9,990	11,617	7,545	14,097	10,821	11,820	8,211	16,774	17,400	15,288	14,217	13,327
Notes and accounts payable-trade	354	467	348	561	1,023	1,334	1,114	4,230	3,296	2,554	1,842	6,725	7,657	3,574	4,018	3,303
Short term loans payable	772	765	-	-	271	200	-	-	0	0	-	-	0	0	-	-
Current portion of long-term loans payable	214	193	178	195	147	143	133	146	138	145	177	159	187	169	138	125
Income taxes payable	4,736	9,593	3,230	6,948	2,909	6,150	2,656	4,707	2,039	3,792	1,508	4,427	3,663	5,711	3,132	4,086
Others	5,852	4,265	3,677	4,312	5,638	3,788	3,441	4,812	5,347	5,327	4,682	5,462	5,892	5,832	6,927	5,812
Non-current liabilities	720	1,139	1,101	1,225	1,183	1,524	1,389	1,560	1,382	1,348	1,275	1,147	1,273	1,147	966	914
Long term loans payable	105	62	87	123	100	139	111	154	125	130	159	132	162	133	104	148
Others	614	1,077	1,014	1,101	1,083	1,384	1,277	1,406	1,257	1,218	1,116	1,014	1,111	1,014	862	766
Total liabilities	12,651	16,425	9,301	14,047	11,173	13,142	8,935	15,658	12,203	13,169	9,486	17,922	18,674	16,435	15,183	14,242
Shareholder's equity	93,310	100,920	34,278	39,023	42,965	48,923	54,845	59,303	61,227	64,775	67,866	73,850	80,276	80,355	83,873	85,194
Capital stock	5,338	5,338	5,338	5,338	5,338	5,338	5,338	5,338	5,338	5,338	5,338	5,338	5,338	5,338	5,338	5,338
Capital surplus	5,469	5,469	5,469	5,469	5,469	5,469	5,474	5,474	5,475	5,475	5,487	5,487	5,487	5,487	5,487	5,487
Retained earnings	124,817	132,427	103,601	108,346	112,288	118,246	124,151	128,609	130,528	134,077	137,066	143,051	149,394	154,247	157,706	159,046
Treasury shares	-42,314	-42,314	-80,130	-80,130	-80,130	-80,130	-80,118	-80,118	-80,115	-80,115	-80,027	-80,027	-79,944	-84,718	-84,659	-84,678
Accumulated other comprehensive income
Foreign currency translation adjustment	-28	-282	-237	-164	-38	-68	-89	32	26	-129	-109	-148	-219	-357	-513	-282
Others	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Accumulated other comprehensive income	-28	-282	-237	-164	-38	-68	-89	32	26	-129	-109	-148	-219	-357	-513	-282
Non Controlling Interests	1,560	1,344	1,604	1,696	1,805	1,894	1,993	2,348	2,369	2,706	3,101	3,522	4,312	4,379	4,676	4,991
Total non-current assets	95,094	102,309	36,013	40,984	45,222	51,338	57,420	62,412	64,403	68,217	71,697	78,110	85,226	85,282	88,871	90,765
Total assets	107,745	118,735	45,315	55,032	56,396	64,480	66,355	78,070	76,607	81,386	81,184	96,032	103,900	101,718	104,055	105,008

5

■Consolidated Profit and Loss Sheet																	(Unit: Millions of yen)
			2016					2017					2018					2019
	1Q	2Q	3Q	4Q	Total	1Q	2Q	3Q	4Q	Total	1Q	2Q	3Q	4Q	Total	1Q	2Q	3Q	4Q	Total
Net sales	31,699	29,743	25,970	25,043	112,457	25,723	23,432	20,840	22,309	92,306	21,899	20,807	19,056	30,337	92,101	35,073	23,603	23,363	19,351 101,392
Cost of sales	10,438	10,023	9,487	8,873	38,822	9,219	8,552	7,521	10,471	35,765	9,796	9,098	7,987	15,758	42,640	17,226	10,678	10,886	9,376	48,168
Cost of sales ratio	32.93%	33.70%	36.53%	35.43%	34.52%	35.84%	36.50%	36.09%	46.94%	38.75%	44.73%	43.73%	41.91%	51.94%	46.30%	49.12%	45.24%	46.60%	48.45%	47.51%
Gross profit	21,261	19,719	16,483	16,170	73,635	16,503	14,880	13,318	11,837	56,540	12,103	11,708	11,069	14,578	49,460	17,846	12,925	12,477	9,975	53,223
Total selling, general and administrative expenses	7,126	7,187	6,600	6,638	27,553	6,369	5,575	4,581	5,628	22,155	5,642	5,937	6,036	5,267	22,883	4,843	5,488	7,413	7,129	24,874
Salaries, wages and bonuses etc.	878	874	817	1,067	3,638	844	820	760	1,155	3,582	834	862	827	1,125	3,649	877	886	808	1,017	3,590
Advertising & marketing	4,053	4,019	3,636	3,265	14,973	3,356	2,595	1,712	2,560	10,224	2,593	2,703	2,724	1,739	9,760	1,632	2,145	3,953	3,434	11,165
Others	2,195	2,293	2,147	2,305	8,941	2,168	2,159	2,108	1,912	8,349	2,214	2,371	2,484	2,402	9,473	2,333	2,456	2,651	2,677	10,118
Operating profit	14,134	12,531	9,882	9,532	46,081	10,134	9,304	8,737	6,209	34,384	6,461	5,771	5,033	9,311	26,577	13,003	7,436	5,063	2,845	28,349
Operating profit ratio	44.59% 42.13% 38.05% 38.06%	40.98% 39.40% 39.71% 41.92% 27.83% 37.25% 29.50% 27.74% 26.41% 30.69% 28.86% 37.07% 31.51% 21.67% 14.70%	27.96%
Non-operating profit	32	25	21	18	98	21	30	16	21	88	22	24	117	-43	120	94	17	157	47	316
Interest income	22	12	12	12	60	13	14	13	16	57	18	22	24	26	91	36	45	39	36	157
Foreign exchange gains	0	0	0	6	6	0	0	0	0	0	0	0	84	-84	0	51	-49	110	-6	106
Others	9	12	9	0	31	7	15	2	4	31	4	1	9	13	29	6	20	7	17	52
Non-operating expenses	201	188	133	-423	98	132	7	-29	11	122	211	-169	-35	31	38	7	22	6	11	48
Interest expenses	7	7	6	6	28	5	3	3	3	16	2	0	0	1	5	6	7	5	8	28
Treasury stock acquisition costs	0	0	53	0	53	0	0	0	0	0	0	0	0	0	0	0	13	0	0	13
Equity in losses of affiliates	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Foreign exchange losses	186	179	67	-404	28	125	-3	-32	4	95	208	-171	-36	29	29	0	0	0	0	0
Others	7	1	5	-26	-11	1	7	0	2	10	1	1	0	0	2	1	1	0	2	5
Ordinary profit	13,965	12,368	9,771	9,975	46,081	10,022	9,326	8,783	6,218	34,351	6,272	5,965	5,185	9,236	26,659	13,089	7,430	5,215	2,881	28,617
Extraordinary profit	0	0	0	0	0	0	0	0	180	180	0	0	0	0	0	0	0	89	89	89
Gain on sales	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	89	89	89
Gain on liquidation of investment securities	-	-	-	-	-	-	-	-	180	180	-	-	-	-	-	-	-	-	-	-
Loss on valuation of stocks of subsidiaries and affiliates	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-
Others	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary loss	0	514	-14	1,724	2,225	773	612	0	36	1,422	61	334	326	507	1,229	23	18	0	988	1,029
Impariment loss	0	514	-14	564	1,064	773	612	0	0	1,385	61	303	325	507	1,197	23	18	0	988	1,029
Loss on valuation of investment securities	-	0	0	1,160	1,160	-	0	0	36	36	-	31	0	0	31	-	0	0	0	0
Others	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Profit before income taxes and Non Controlling Interests	13,965	11,854	9,785	8,250	43,856	9,249	8,714	8,783	6,362	33,109	6,211	5,630	4,859	8,728	25,430	13,066	7,412	5,306	1,893	27,677
Profit Attributable To Owner Of Parent	9,197	7,609	6,358	4,744	27,911	6,075	5,957	5,905	4,457	22,397	4,052	3,548	3,000	5,984	16,585	8,485	4,852	3,467	1,340	18,146

6

■The number of downloads

Puzzle & Dragons (Japan)

Reached date	Downloads
2012/2/20	Launch
2012/7/15	100
2012/10/17	200
2012/11/5	300
2012/11/22	400
2012/12/12	500
2012/12/31	600
2013/1/18	700
2013/1/30	800
2013/2/18	900
2013/3/9	1,000
2013/3/25	1,100
2013/4/9	1,200
2013/4/28	1,300
2013/5/18	1,400
2013/6/8	1,500
2013/6/29	1,600
2013/7/22	1,700
2013/8/16	1,800
2013/9/14	1,900
2013/10/14	2,000
2013/11/15	2,100
2013/12/15	2,200
2014/1/4	2,300
2014/1/31	2,400
2014/3/1	2,500
2014/3/23	2,600
2014/4/20	2,700
2014/5/27	2,800
2014/7/8	2,900
2014/8/15	3,000
2014/9/25	3,100
2014/11/16	3,200
2014/12/31	3,300
2015/2/19	3,400
2015/3/28	3,500
2015/5/15	3,600
2015/7/17	3,700
2015/9/20	3,800
2015/11/24	3,900
2016/1/26	4,000
2016/3/30	4,100
2016/6/17	4,200
2016/9/11	4,300
2016/12/24	4,400
2017/3/19	4,500
2017/7/1	4,600
2017/11/8	4,700
2018/3/10	4,800
2018/7/10	4,900
2018/11/2	5,000
2019/1/17	5,100
2019/5/12	5,200
2019/10/24	5,300

(Unit: ten thousand)

Puzzle & Dragons (North America)

Reached dateDownloads

2012/11/8 Launch

2013/7/27100

2013/10/30200

2014/3/7300

2014/5/22400

2014/9/16500

2014/12/31600

2015/5/6700

2015/9/29800

2015/12/30900

2016/5/11,000

2016/11/41,100

2017/9/201,200

2018/12/251,300

Puzzle & Dragons (South Korea)

Reached dateDownloads

2013/1/21 Launch

2013/7/1100

2014/3/15200

Puzzle & Dragons (Hong Kong, Taiwan)

Reached date	Downloads
2014/1/23	Launch
2014/3/11	100
2014/12/17	200
2020/1/9	300

Puzzle & Dragons Radar

Reached dateDownloads

2016/3/17 Launch

2016/3/18100

2016/4/11200

2016/7/14300

2017/1/15400

2017/8/26500

2018/9/29600

Princess Punt Sweets

Reached dateDownloads

2012/11/19 Launch

2013/1/15100

2013/2/13200

2013/5/5300

2013/8/17400

2013/9/15500

2013/10/23600

2014/1/10700

2014/4/12800

2014/9/14900

2015/6/201,000

2016/4/31,100

2017/10/141,200

7

■ The number of downloads

(Unit: ten thousand)

SUMMONS BOARD

Reached date	Downloads
2014/2/10	Launch
2014/4/1	100
2014/11/9	200
2015/6/19	300
2015/10/4	400
2017/3/1	500

YO-KAI WATCH WORLD

Reached date	Downloads
2018/6/27	Launch
2018/7/11	100
2018/9/14	200

TEPPEN

Reached date	Downloads
2019/7/4	Launch
2019/8/3	100
2019/8/13	200
2019/9/4	300
2019/11/19	400

LET IT DIE

Reached date	Downloads
2016/12/3	Launch
2016/12/30	100
2017/2/14	200
2017/5/15	300
2018/2/9	400
2019/2/11	500

8