Change : Announcement on the Revision of the Full-year Earnings Forecasts Due to the Changes of the Fiscal Year End, etc.

[Notes of caution]

This document is an English translation of the Japanese original. In the event of any differences or inconsistencies between the Japanese and English versions, the Japanese language version shall take precedence.

	December 14, 2021
For Immediate Release
Company	CHANGE Inc.
CEO	Hiroshi Fukudome
	(Code: 3962,
	First Section of the Tokyo Stock Exchange)
Contact	Yutaka Yamada CFO
	(TEL.[phone])

Announcement on the Revision of the Full-year Earnings Forecasts

Due to the Changes of the Fiscal Year End, etc.

As announced in the "Announcement on the Change of the Fiscal Year End (the Ending Date of the Business Year) and Related Partial Amendment of Articles of Incorporation" dated November 24, 2021, the Company (or simply "we") will change the fiscal year end (the ending date of the business year) on the condition that the 19th General Meeting of Shareholders scheduled to be held on December 24, 2021 approve the "Proposal No.1: Partial Amendment to the Articles of Incorporation" as stipulated in the draft. In response to this change, we have decided to revise the earnings forecasts for the 20th period released on November 15, 2021 (October 1, 2021 to September 30, 2022 *before the change of the fiscal year end).

Details

1. Reasons for the Revision of the Forecasts

Under the Mid-term Business Plan of "Digitize & Digitalize Japan", we are developing businesses that will dramatically improve Japanese productivity through "People × Technology," centered on NEW-IT Transformation Business, Investment Business, and Publitech Business, in order to establish our position as a leader in the Japanese digital transformation market.

As announced in the "Announcement on the Change of the Fiscal Year End (the Ending Date of the Business Year) and Related Partial Amendment of Articles of Incorporation" on November 24, 2021, we will change the fiscal year end (the ending date of the business year) from September 30 to March 31, subject to the approval of the "Proposal 1: Partial Amendment to the Articles of Incorporation" to be discussed at the 19th General Meeting of Shareholders scheduled to be held on December 24, 2021. As a result, the 20th fiscal year, which is the transitional period for the change of the fiscal year end, will be an irregular fiscal period of the six months from October 1, 2021 to March 31, 2022. Therefore, we revise the earnings forecasts of the period.

We have revised the full-year earnings forecasts for the fiscal year ending March 31, 2022 based on

1

[Notes of caution]

This document is an English translation of the Japanese original. In the event of any differences or inconsistencies between the Japanese and English versions, the Japanese language version shall take precedence.

the full-year earnings forecasts for the 20th fiscal period (from October 1, 2021 to September 30, 2022 *before the change of the fiscal year end) announced on November 15, 2021, taking into account information currently available to us and certain assumptions that we believe to be reasonable.

2. Revision of the Full-Year Earnings Forecast for the Year ending March 31, 2022 (October 1, 2021 to March 31, 2022)

(Millions of Yen)

N e t p r o f i t

B a s i c

R e v e n u e

O p e r a t i n g

Profit before

N e t p r o f i t

attributable

earnings per

p

r o f i t

T

a

x

to owners of

s h a r e

t h e p a r e n t

※1

P r e v i o u s l y

Millions of

Millions of

Millions of

Millions of

Millions of

Yen

announced forecast

yen

yen

yen

yen

yen

62.76

(

A

)

18,200

6,800

6,771

4,647

4,522

( 1 2 M o n t h s )

Curre nt l y re vi se d

f o r e c a s t

( B )

11,000

5,000

4,985

3,441

3,380

48.42

( 6 m o n t

h s )

C h a n g e ( B - A )

△7,200

△1,800

△1,786

△1,205

△1,141

Rate of change (%)

△39.6

△26.5

△26.4

△25.9

△25.2

(Reference)

Results

for the previous fiscal

year

15,653

5,985

5,911

4,113

4,104

58.79

(Fiscal

year

ended

September 30, 2021)

※1 We conducted a 2-for-1 share split of our ordinary share on January 1, 2021. Basic earnings per share for the fiscal year ended September 30, 2021 was calculated on the assumption that the share split had been carried out at the beginning of the fiscal year.

※Please note that the above forecasts are based on the information currently available to us and certain assumptions that we consider reasonable, however, actual results may differ from these forecasts due to various factors.

End

2