Gurunavi : Revised Interim and Full-Year Business Forecast for the Fiscal Year ending March 31, 2022

For immediate release

Name of Listed Company:	Gurunavi, Inc.
Listed Stock Exchanges:	Tokyo Stock Exchange
Stock Code:	2440
Representative:	Akio Sugihara, President

Revised Interim and Full-Year Business Forecast for the Fiscal Year

ending March 31, 2022

August 4, 2021 ̶ Gurunavi, Inc. (the "Company") announces that the Company has revised its consolidated interim and full-year business forecast for the fiscal year ending March 31, 2022, the previous forecast was announced on May 12, 2021, in light of recent business performance.

1. Revised consolidated interim business forecast for the fiscal year ending March 31, 2022 (April 1, 2021 to September 30, 2021)

		Operating	Ordinary	Net loss
	Net sales	attributable		Basic loss
	loss	loss	to owners of		per share
				parent
Forecast previously	Million yen	Million yen	Million yen	Million yen		yen
announced (A)	8,000	(2,950)	(2,950)	(2,970)	(63.30)
New forecast (B)	6,200	(2,950)	(2,950)	(2,970)	(63.30)
Difference (B-A)	(1,800)	―	―	―
Rate of difference (%)	(22.5)	―	―	―
(Reference)	5,824	(4,939)	(4,927)	(5,446)	(116.16)
Interim results for the fiscal
year ended March 31, 2021

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2. Revised consolidated full-year business forecast for the fiscal year ending March 31, 2022 (April 1, 2021 to March 31, 2022)

		Operating	Ordinary	Net loss
	Net sales	attributable		Basic loss
	loss	loss	to owners of		per share
				parent
Forecast previously	Million yen	Million yen	Million yen	Million yen		yen
announced (A)	19,400	(2,900)	(2,900)	(3,000)	(63.94)
New forecast (B)	Undecided	Undecided	Undecided	Undecided		Undecided
Difference (B-A)	―	―	―	―
Rate of difference (%)	―	―	―	―
(Reference)	16,181	(7,423)	(7,269)	(9,704)	(206.90)
Results for the fiscal year
ended March 31, 2021

3. Reasons of revision

The business forecast announced on May 12, 2021 was formulated based on the assumption that demand for eating out will continue to be sluggish due to continued restraint of socio-economic activities while measures are being taken to prevent the spread of the COVID-19 and the transformation of consumer lifestyles triggered by the pandemic. However, due to the prolonged measures requesting restaurants to shorten business hours and refrain from serving alcoholic beverages in Tokyo and other areas as a result of the extension and reissuance of the state of emergency in response to the reemergence of the infection, the demand for eating out in the first half of the fiscal year is being lower than our expectations. Against the backdrop of the aforementioned business environment, sales for the first half of the fiscal year are expected to fall short of the initial forecast, mainly in sales of restaurant sales promotion services. On the other hand, expenses are expected to decrease from the initial forecast due to the reduction of advertising expenses in light of the business environment, the reduction of operating expenses such as transportation expenses as a result of the review of sales activities (strengthening of the use of remote business negotiations due to the extension of the state of emergency, etc., and progress in efficiency improvement through division of labor by function), and the curbing of personnel hiring of etc. The initial forecast for each loss for the first half of the fiscal year remains unchanged.

Due to the current increase in the number of newly infected people and the expansion of areas under a state of emergency and where semi-emergency spread prevention measures are applied, there are concerns that the impact on restaurant sales will be further prolonged and worsened over the next several months. On the other hand, there are expectations that the demand for eating out will recover due to the progress of vaccination. Since the outlook for the business environment is more fluid and it is difficult to make rational assumptions for the second half of the fiscal year, the full-year business forecast is withdrawn and yet to be determined. The Company will promptly disclose the full-year forecast when it becomes possible to do so.

Important note

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

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