For immediate release

Name of Listed Company:

Gurunavi, Inc.

Listed Stock Exchanges:

Tokyo Stock Exchange

Stock Code:

2440

Representative:

Akio Sugihara, President

Notice regarding Revision of Interim and Full-Year Business Forecast

for the Fiscal Year ending March 31, 2023

August 3, 2022 ̶ Gurunavi, Inc. (the "Company") announces that the Company hasrevised its consolidated interim and full-year business forecast for the fiscal year ending March 31, 2023 as follows from those announced on May 11, 2022, in light of recent business performance.

1. Revised consolidated interim business forecast for the fiscal year ending March 31, 2023 (April 1, 2022 to September 30, 2022)

Net loss

Basic loss

Net sales

Operating

Ordinary

attributable

loss

loss

to owners of

per share

parent

Forecast previously

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Yen

announced (A)

5,300

(3,200)

(3,200)

(3,230)

(60.13)

New forecast (B)

5,300

(2,500)

(2,500)

(2,330)

(43.76)

Difference (B-A)

700

700

900

Rate of difference (%)

(Reference)

6,105

(2,170)

(2,176)

(2,240)

(47.75)

Interim results for the fiscal

year ended March 31, 2022

1

2. Revised consolidated full-year business forecast for the fiscal year ending March 31, 2023 (April 1, 2022 to March 31, 2023)

Operating

Ordinary

Net loss

Net sales

attributable

Basic loss

loss

loss

to owners of

per share

parent

Forecast previously

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Yen

announced (A)

12,800

(3,250)

(3,250)

(3,300)

(62.79)

New forecast (B)

12,800

(2,550)

(2,550)

(2,400)

(46.42)

Difference (B-A)

700

700

900

Rate of difference (%)

(Reference)

12,852

(4,786)

(4,692)

(5,768)

(114.46)

Results for the fiscal year

ended March 31, 2022

3. Reasons of revision

Regarding net sales, the previously announced interim and full-year forecasts remain unchanged as the impact of a seventh wave of COVID-19 infections and other factors on the eating out market remain unclear, although sales were favorable in the first quarter.

However, with advertising, sales promotion, outsourcing, and subcontracting expenses lower than planned due to the Company's focus on core services and measures and stringent implementation effective cost controls, as well as an extraordinary income (gain on sale of investment securities) in the first quarter, the Company has revised each of interim and full-year loss forecasts as shown in 1 and 2 above.

The Company expects to return to profit in the fourth quarter which will lead to profit in the next fiscal year and beyond.

Important note

The above forecasts are based on information available at the time of this announcement and are subject to a number of uncertainties. Actual results could differ materially from the above forecasts due to changes in business conditions and other factors.

2

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Gurunavi Inc. published this content on 03 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2022 06:21:03 UTC.