For immediate release

Name of Listed Company:

Gurunavi, Inc.

Listed Stock Exchanges:

Tokyo Stock Exchange

Stock Code:

2440

Representative:

Akio Sugihara, President

Notice regarding the Recording of Extraordinary Loss (Impairment Loss)

May 12, 2021 ̶ Gurunavi, Inc. (the "Company") announces that the Company recorded the following extraordinary loss (impairment loss) in the fiscal year ending March 31, 2021.

1. Detail of extraordinary loss (impairment loss)

As a result of examining the recoverability of the Company's property, plant and equipment and intangible assets, etc. in accordance with the "Accounting Standard for Impairment of Fixed Assets" and taking into consideration future earnings prospects in light of the impact of COVID-19 on the Company's business performance, the Company reduced their book values by the entire amount and recorded an impairment loss of 1,982 million yen.

2. Outlook

The above is reflected in the consolidated financial results for the fiscal year ended March 31, 2021 announced today.

(Reference)

Consolidated business forecasts for the year ending March 31, 2022 (announced today) and consolidated operating results for the previous fiscal year.

Operating

Net income

(Million yen)

Net sales

Ordinary income

attributable to

income

owners of parent

Consolidated business

forecasts for the year

19,400

(2,900)

(2,900)

(3,000)

ending March 31, 2022

Consolidated operating

results for the year

16,181

(7,423)

(7,269)

(9,704)

ended March 31, 2021

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Disclaimer

Gurunavi Inc. published this content on 12 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 May 2021 06:15:03 UTC.