TechnoPro : Summary of the Consolidated Second Quarter Statements (IFRS) for the Six-Month Period Ended December 31, 2021

(1) Consolidated Operating Results (Cumulative)

Translation	Notice: This is a translation of the original Japanese document and is provided for informational purposes only. If there are
any discrepancies between this and the original, the original Japanese document prevails.

Summary of the Consolidated Second Quarter Statements (IFRS)

for the Six-Month Period Ended December 31, 2021

				February 1, 2022
Listed Company Name	TechnoPro Holdings, Inc.	Listed Stock Exchange: Tokyo
TSE Code	6028	URL https://www.technoproholdings.com/en/
Representative	(Title)	President, Representative Director & CEO	(Name) Takeshi Yagi
In charge of inquiries	(Title)	Managing Director & CFO (Name) Toshihiro Hagiwara	TEL [phone]

Quarterly report scheduled submission date	February 8, 2022
Scheduled commencement date for dividend payment	－
Supplementary materials for financial results:	Yes
Briefing session for financial results:	Yes (for institutional investors and analysts)

(Amounts less than one million yen are omitted)

1. Consolidated Financial Results for the Six Months Ended December 31, 2021 (July 1, 2021 - December 31, 2021)

(% represents the change from the same period of the previous fiscal year)

																Net profit
	Revenue		Core operating	Operating profit	Profit before	Net profit	attributable to
				profit		income taxes	owners of the
																parent company
	Million		%	Million		%	Million	%	Million	%	Million	%	Million	%
	yen				yen		yen	yen	yen	yen
For the six months ended
86,358			8.7		9,032		8.9	11,078	14.4	11,229	16.4	7,905	17.9	7,794	17.7
December 31, 2021
For the six months ended	79,451			0.5		8,291		2.2	9,680	17.7	9,645	17.7	6,703	17.1	6,623	17.1
December 31, 2020
	Comprehensive			Basic earnings per share	Diluted earnings
	income for the period		per share
	Million			%					Yen		Yen
	yen
For the six months ended
8,240			18.4					72.35		－
December 31, 2021
For the six months ended	6,956			21.2					61.48		－
December 31, 2020

(Note) Core operating profit is the Group's own profit indicator, calculated by subtracting selling, general and administrative expenses from gross profit, and accordingly excludes the impact of extraordinary items (such as employment adjustment subsidies and impairment losses) recorded under other income and other expenses.

(Note) The Group conducted a three-for-one split of ordinary shares on July 1, 2021. "Basic earnings per share" is calculated on the assumption that the stock split was conducted at the beginning of the previous fiscal year.

(2) Consolidated Financial Position

			Equity attributable to	Percentage of equity
	Total assets	Total equity	the owners of the	attributable to the
	owners of the parent
			parent company
			company
	Million yen	Million yen	Million yen	%
For the six months ended	129,918	62,208	60,799	46.8
December 31, 2021
FY ended June 30, 2021	117,989	58,733	57,226	48.5

2. Dividends

		Annual dividends per share
	End of first quarter	End of second quarter	End of third quarter	End of fiscal year	Total
	Yen	Yen	Yen	Yen	Yen
FY ended June 30, 2021	－	50.00	－	135.00	185.00
FY ending June 30, 2022	－	20.00
FY ending June 30, 2022			－	42.00	62.00
(forecast)

(Note) Revisions to dividend forecasts published most recently: Yes

For information concerning revisions to dividend forecasts, please see the "Notice Regarding Difference between First Half Guidance and Results, Interim Dividend, Revisions to Full-Year Guidance and Dividend Forecast for FY2022," released today (February 1, 2022).

(Note) The Group conducted a three-for-one split of ordinary shares on July 1, 2021. Actual dividend amounts before the stock split are stated for FY ended June 30, 2021.

3. Consolidated Financial Results Forecast for the Fiscal Year Ending June 30, 2022 (July 1, 2021 - June 30, 2022)

(% represents the change from the same period of the previous year)

				Core operating			Profit before	Net profit attributable	Basic
	Revenue		Operating profit	to owners of the parent	earnings per
		profit		income taxes
							company		share
	Million yen		%	Million yen	%	Million yen	%	Million yen	%	Million yen		%	Yen
Full year	174,000		7.9	17,300	(1.9)	19,300	(0.8)	19,300	(0.9)	13,300		0.4	123.46

(Note) Revisions to financial results forecasts published most recently: Yes

(Note) For information concerning revisions to financial results forecasts, please see the " Notice Regarding Difference between First Half Guidance and Results, Interim Dividend, Revisions to Full-Year Guidance and Dividend Forecast for FY2022," released today (February 1, 2022).

• Notes
• 1. Changes to important subsidiaries during the period (changes to "Specified Subsidiaries" that involve changes made to scope of consolidation): None
  2. Changes to accounting policies and accounting estimates
  3. 1. Changes to accounting policies as required by IFRS: None
     2. Changes to accounting policies other than i.: None
     3. Changes to accounting estimates: None
  4. Number of outstanding shares (ordinary shares)

i. Number of outstanding shares at the end	As of December	108,421,164 shares	FY ended June	108,421,164 shares
of the period (including treasury shares)	31, 2021		30, 2021
ii. Number of treasury shares at the end of	As of December	695,291 shares	FY ended June	695,109 shares
the period	31, 2021	30, 2021
iii. Average number of shares during the	For the six months		For the six
	months ended
ended December	107,725,946 shares	107,726,110 shares
period (cumulative)	December 31,
31, 2021
		2020

(Note) The Group conducted a three-for-one split of ordinary shares on July 1, 2021. Number of outstanding shares at the end of the period (including treasury shares), Number of treasury shares at the end of the period, and Average number of shares during the period (cumulative) are calculated on the assumption that the stock split was conducted at the beginning of the previous fiscal year.

• This Summary of Financial Statements is not subject to quarterly review by certified public accountant or audit corporation.
• Explanation regarding proper use of financial results forecasts, and other notes

(Cautionary note on forward-looking statements)

Forward-looking statements in this document about future performance are based on information currently available and certain assumptions that are considered reasonable. Due to unforeseen circumstances, actual results may differ from such estimates.

Please refer to page 5 "1. Qualitative Information on Financial Results for the Period Under Review; (3) Results forecasts and other forward- looking information" for criteria for assumptions used in the earnings forecast.

(Obtaining supplementary materials for financial results)

The Company plans to hold a briefing on business results for institutional investors and analysts on February 1, 2022. The Company plans to post supplementary and other materials for the briefing on its website today (February 1, 2022) at the same time that the information is disclosed to the Tokyo Stock Exchange.

Contents

1. Qualitative Information on Financial Results for the Period Under Review	2
(1)	Summary of business performance	2
(2)	Summary of financial position	3
(3)	Results forecasts and other forward-looking information	5
2. Interim Consolidated Financial Statements (Summary) and notes	6
(1)	Consolidated Statement of Financial Position (Summary)	6
(2)	Consolidated Statement of Income (Summary) and Consolidated Statement of Comprehensive Income	8
	(Summary)
(3)	Consolidated Statement of Changes in Equity (Summary)	12
(4)	Consolidated Statement of Cash Flows (Summary)	14
(5)	Notes to the consolidated financial results (Summary)	15
	(Note on assumption about going concern)	15
	(Note on segment information)	15

－ 1 －

1. Qualitative Information on Financial Results for the Period Under Review

(1) Summary of business performance

During the consolidated first half period under review (July 1, 2021 to December 31, 2021), uncertainty in the global economy continued due to concerns over rising inflation, the slowdown in China's economic recovery, and other factors. In Japan, despite signs for a time that COVID-19 infections may be coming to an end, uncertainty continued due to a rebound in infections as a result of the new omicron variant and shortages of semiconductor components and other goods.

In this environment, customer demand for the Group's core business area of engineer dispatching and contract assignment has largely recovered to pre-pandemic levels, demonstrating the strong foundations of the Group's business. In addition, hiring activities have proceeded as planned, and the Group made a good start towards achieving Evolution 2026, its new medium-term management plan (July 1, 2021 to June 30, 2026), which it launched on August 10, 2021.

The main initiatives implemented by the Group during the consolidated first half period under review were as follows:

Secure engineers

The resumption of hiring activities in September 2020 and the focus on forming a candidate applicant pool reversed the decline in the number of engineers on payroll in Japan that began in April 2021. While online interviews have now become the norm, by continuing to provide sufficient information and engaging in careful communication with candidates, the Group has successfully hired 1,434 mid-career engineers in the first half period under review (up 1,258 compared to same period of the previous fiscal year). The Group will continue to focus on hiring new IT and DX-related engineers to meet strong demand, and also continue its efforts to curb retirements to secure a sufficient number of engineers - the source of our growth.

Strengthen solutions business

One of the goals set out in Evolution 2026, the Group's medium-term management plan, is to strengthen the solutions business, which is positioned as the growth and evolution of the Group's core business area of engineer dispatching. GCOMNET CO., LTD. became part of the Group on July 30, 2021 (merging with TechnoPro Inc. on October 1, 2021). The Group is leveraging GCOMNET's strengths in the upstream process of core system ERP package SAP implementation consulting and IT infrastructure development as well as implementing GCOMNET's engineer training program that incorporates the Company's training expertise. Further, the Group has expanded target technology areas for alliance, aiming at cross-skilling engineers - incumbent technology in chemistry/ biochemistry/ construction x IT/ digital, which is intended to expand solutions to its customers.

Promote globalization

To promote globalization within the Group, the Group has begun operating a "service catalogue" that showcases the track records and capability areas of its overseas subsidiaries. The aim of this initiative is to hunt offshore development projects by utilizing the robust sales network of the Group's domestic businesses. The Group will continue to actively promote groupwide collaboration on a global basis, leveraging the Group's strengths in domestic sales and offshore development and delivery.

As a result of the initiatives described above, the number of domestic engineers at the end of the consolidated first half period under review was 20,776 (up 587 compared to the end of the first half of the previous fiscal year and up 446 from the end of previous fiscal year). The average utilization rate for the period under review was 95.6% (up 1.9 pts). Regarding continuous efforts to improve sales per engineer, while the number of operating days per month has decreased by 0.14 days compared to the same period of the previous fiscal year, average monthly sales per engineer were 650 thousand yen (up 21 thousand yen compared to the same period of the previous fiscal year), partly due to increased overtime hours and the increase in contract unit prices as a result of the Shift Up and Charge Up initiatives. Further, excluding new employees who had joined the Group in the last twelve months, dispatch contract unit prices (base charge) for existing employees rose by 9 thousand yen compared to the first half of the previous fiscal year.

－ 2 －

In terms of expenses, in comparison to the first half of the previous fiscal year when new hiring was effectively frozen, SG&A increased due to full-scale implementation of hiring and other upfront investments, but core operating profit rose by 740 million yen, which was mitigated due to the improvement in gross profit as a result of the increased number of employees assigned in Japan and other factors.

In addition, the Group recorded 1,863 million yen in other income due to the reversal of liabilities related to put options granted to non-controlling shareholder of Helius Technologies Pte Ltd.

As a result, the Group's performance was as follows: revenue for the consolidated first half period under review was 86,358 million yen (up 8.7% compared to the same period of the previous fiscal year), core operating profit was 9,032 million yen (up 8.9%), operating profit was 11,078 million yen (up 14.4%), profit before taxes was 11,229 million yen (up 16.4%), and net profit attributable to the owners of the parent company was 7,794 million yen (up 17.7%).

Earnings for the segments of the business during the consolidated first half period under review were as follows:

(R&D Outsourcing)

In order to expand its IT business, which has been performing well within R&D outsourcing, the Group implemented software-related training for hardware-related engineers and chemical/biochemical-related engineers and realized engineer assignments at higher unit prices through re-skilling and cross-skilling, in addition to restarting the mid-career hiring mainly of high added-value engineers. The Group also made efforts to secure assignments through business collaborations with the partners possessing advanced technologies and by actively implementing internal/external training. As a result of these efforts, engineers on payroll were 18,109 (up 519 compared to the end of the first half of the previous fiscal year) and assigned engineers were 17,348 (up 539). As a result of these initiatives, revenue in this segment was 66,861 million yen (up 5.6%).

(Construction Management Outsourcing)

In addition to construction management, the main service provided under Construction Management Outsourcing, the Group has also expanded its services to offer services based on technological skills developed in the design and construction management fields, for example: 3D measurement, aerial photography, and inspections using drones, and the establishment of first-class qualified architect offices. While in this segment the impact of COVID-19 has been minimal and so a high utilization rate has been maintained, hiring did not keep pace with demand, and on-payroll and assigned engineers are 2,667 and 2,565, respectively, at the end of the first half period under review (up 68 and 69, respectively, compared to the end of the same period of the previous fiscal year). As a result, revenue in this segment was 9,966 million yen (up 0.5%).

(Other Businesses in Japan)

Other Businesses in Japan comprises a professional recruitment service and an education and training service in engineering. These businesses were impacted by COVID-19, but demand for search-based recruitment services increased, driven by clients' increasing desire to hire for post-COVID-19. As a result, revenue in this segment was 2,218 million yen (up 30.6%).

(Overseas Businesses)

While there were differences among countries, the Group's Overseas Businesses generally returned to growth. China was able to exit from its economic downturn at an early stage and the Group proceeded with contracted R&D operations on an offshore basis via partnerships with key customers: Japanese companies in China and their parent Japanese companies. Personnel dispatch and professional recruitment services in the UK performed well, supported by strong demand. In addition, the acquisition of Robosoft Technologies Private Limited as a subsidiary had a significantly positive impact from the consolidated second quarter period onwards, resulting in revenues in this segment of 8,488 million yen (up 63.6%).

(2) Summary of financial position

－ 3 －