Results Briefing Session for the Six-Month Period Ended September 30, 2021

Financial Results

Briefing Session

Six‐Month Period Ended September 30, 2021

November 5, 2021

SQUARE ENIX HOLDINGS CO., LTD.

Statements made in this document with respect to SQUARE ENIX HOLDINGS CO., LTD. and its consolidated subsidiaries' (together, "SQUARE ENIX GROUP") plans, estimates, strategies and beliefs are forward‐looking statements about the future performance of SQUARE ENIX GROUP.

These statements are based on management's assumptions and beliefs in light of information available to it at the time these material were drafted and, therefore, the reader should not place undue reliance on them. Also, the reader should not assume that statements made in this document will remain accurate or operative at a later time.

A number of factors could cause actual results to be materially different from and worse than those discussed in forward‐looking statements. Such factors include, but not limited to:

1. changes in economic conditions affecting our operations;
2. fluctuations in currency exchange rates, particularly with respect to the value of the Japanese yen, the U.S. dollar and the Euro;
3. SQUARE ENIX GROUP's ability to continue to win acceptance of our products and services, which are offered in highly competitive markets characterized by the continuous introduction of new products and services, rapid developments in technology, and subjective and changing consumer preferences;
4. SQUARE ENIX GROUP's ability to expand international success with a focus on our businesses; and
5. regulatory developments and changes and our ability to respond and adapt to those changes.

The forward‐looking statements regarding earnings contained in these materials were valid at the time these materials were drafted. SQUARE ENIX GROUP assumes no obligation to update or revise any forward‐looking statements, including forecasts or projections, whether as a result of new information, subsequent events or otherwise.

The financial information presented in this document is prepared according to generally accepted accounting principles in Japan.

(Amounts under one hundred million yen are rounded down)

2

Financial Results

First Half of Fiscal Year

Ending March 31, 2022

3

Consolidated Statement of Income 1H, FY2022/3

						(Billions of Yen)
	Fiscal Year Ended		Fiscal Year Ending
	March 31, 2021		March 31, 2022
	1H	Full Year	1H	Changes	Full Year	Changes
	Results	Forecasts
Net sales	172.7	332.5	168.9	(3.8)	340.0	7.5
Operating income	31.6	47.2	29.1	(2.5)	40.0	(7.2)
Operating income margin	18.3%	14.2%	17.3%	(1.0pt)	11.8%	(2.4pt)
Ordinary income	30.5	49.9	31.4	0.9	40.0	(9.9)
Ordinary income margin	17.7%	15.0%	18.6%	0.9pt	11.8%	(3.2pt)
Profit attributable to	16.0	26.9	22.9	6.9	24.0	(2.9)
owners of parent
Depreciation and	3.5	7.5	3.4	(0.1)	7.1	(0.4)
amortization
Capital expenditure	3.7	7.3	3.5	(0.2)	10.5	3.2

*Change in accounting policies (accounting standards for revenue recognition) has been applied from FY2022/3. We don't present FY2021/3 data with these accounting polices applied retrospectively.

4

Consolidated Statement of Income 1H, FY2022/3 by Business Segment

				(Billions of Yen)
	Fiscal Year Ended	Fiscal Year Ending
	March 31, 2021	March 31, 2022
	1H	1H		Changes
Net sales	172.7	168.9		(3.8)
Digital Entertainment	142.4	129.4		(13.0)
Amusement	13.9	21.0		7.1
Publication	12.3	14.1		1.8
Merchandising	4.8	5.8		1.0
Eliminations or unallocated	(0.8)	(1.5)		(0.7)
Operating income	31.6	29.1		(2.5)
Digital Entertainment	33.8	29.4		(4.4)
Amusement	(1.6)	0.6		2.2
Publication	5.3	5.9		0.6
Merchandising	1.5	1.7		0.2
Eliminations or unallocated	(7.4)	(8.7)		(1.3)
Operating income margin	18.3%	17.3%		(1.0pt)
Digital Entertainment	23.7%	22.8%		(0.9pt)
Amusement	(11.7%)	3.1%		14.8pt
Publication	43.3%	42.2%		(1.1pt)
Merchandising	31.8%	30.9%		(0.9pt)
Eliminations or unallocated	‐	‐		‐

5