Financial Results for 2Q Fiscal Year December 2021

2nd Quarter FY2021 Supplementary Materials

Code 9416 Operation Bases and Affiliates (1st Section of the Tokyo Stock Exchange) Domestic Affiliated Companies： 6 Incorporated December 4, 2001 Domestic Operation Bases： 12 (Founded June 1, 1995) Domestic Airport Counter： 19 Management To Contribute to the Global Information Global Affiliated Companies： 12 Philosophy and Communications Revolution Korea, USA (Hawaii), Hong Kong, Head Office 5F Shinjuku i-Land Tower, 6-5-1 Nishi- Singapore, Taiwan, UK, Vietnam, Shinjuku, Shinjuku-ku, Tokyo 163-1305 China (Shanghai), France, Italy, USA (California), New Caledonia Number of 712 (120) Consolidated Domestic: 641 (118)

Employees Global: 71 (2) Vision Inc. (Average temporary (As of June 30, 2021) Best Link Inc. employees) Members Net Inc. Alphatechno Inc. GLOBAL WIFI.UK LTD BOS Inc. Vision Ad Inc. Affiliated Domestic: 6 Global WiFi France SAS Vision Digital Marketing Inc. Companies Global: 12 Vision Mobile Italia S.r.I. VISION MOBILE USA CORP. 上海高效通信科技有限公司 (As of June 30, 2021) Vision Mobile Korea Inc. Vision Mobile Hong Kong Limited Vision Mobile Hawaii Inc.

Business GLOBAL WiFi VISION VIETNAM ONE MEMBER 無限全球通移動通信股份有限公司（台湾） Information and LIMITED LIABILITY COMPANY Communications Service GLOBAL WIFI.COM PTE. LTD. VISION MOBILE NEW CALEDONIA

25th anniversary 2020

Changed the market to the 1st Section of Started GLOBAL the Tokyo Stock Exchange in Dec. 2016 2016 WiFi business Listed with “Mothers” of the Tokyo Stock Exchange in Dec. 2015 2015 Started domestic Wi-Fi router rental business 2012

Started broadband 2010 business

Started company 2008 cellphone business 2007

2006

2005

2004

Started Internet Irregular advertising 2003 period business due to changes Founded in fiscal Started international telephone service year-end sales business for South American people 1995 who live in Japan Copyright(C) 2021 VISION INC. All Rights Reserved. 4 Our Core Strategies

Offer just the right value to realize sustainable growth

Niche & Focus Price & Quality Up/Cross selling strategy leadership strategy strategy

Discover the challenges create Production efficiency is Pick up new needs for information in the niches of the evolution in thoroughly pursued. and communications services and information and communications, Realize by improving continuously offer services at and develop new markets. organizational structure and reasonable prices at the right Focus management resources business speed. time. on carefully selected targets, While maintaining high quality of Build a long-term relationship and refine our services. service, demonstrate price with customers. competitiveness surpassing competitors.

✓ Overseas travelers ✓ Productivity, price advantage ✓ Original CRM ✓ Startup companies ✓ Service quality evaluation ✓ Subscription-based business Teleworking ✓ Copyright(C) 2021 VISION INC. All Rights Reserved. 5 Business Summary

Copyright(C) 2021 VISION INC. All Rights Reserved. 6 Two Business Segments “GLOBAL WiFi” Business Information and Communications Provide anytime, anywhere, safe, secure Service Business and comfortable mobile internet Provide the most suitable information and environment all over the world. communications-related products and Wi-Fi router rental service. services tailored to the stage and needs Connectable with multiple users and multiple of the company since starting business. devices (companion, smartphone, laptop, etc.). Our own sales structure, CRM. Web marketing × Sales rep × CLT (Customer Loyalty Team)

.com

Telephone Cellphone Office Website Security Electric Cloud App Line Support Automation Support Power Service Order and payment Receive router Use overseas Return router Arrangements (SaaS)

Less Expensive Maximum cost benefits -89.9% Fixed-rate From JPY300/day Japanese cellphone companies’ fixed-rate discount comparison Available in over 200 countries and regions worldwide, leading the Areas industry in the number High-speed communications in partnership with telecom carriers around Comfortable the world Join from Sep. 2019. Secure; 47 support bases available 24 hours a day, 365 days a year, Safe / Secure One of the world’s largest around the world mobile telecom business associations that links Counter Number of airport counter is the industry’s largest class more than 750 mobile telecom carriers and 400 Corporate Sales Uptake ability of corporate needs related industrial operators worldwide. Customers Number of users is the largest in the industry

Direct website Apps Affiliates Data EC mall Payment communication Corporate sales service Partners Airport counters

Shipping EndUsers

Return providers

Worldwide Worldwide

companies Vision Vision Group

Payment Rental fees

telecommunications Settlementservice Copyright(C) 2021 VISION INC. All Rights Reserved. 8 Comparison of Overseas Internet Connection Means ① “Global WiFi” “NINJA WiFi” are competitive in safety, security, comfortability, and price. Users are unwilling to share their own data traffic with others, but they are less reluctant to share a rented Wi-Fi router with others (They tend to share it with two or

three people in case of independent travel). * Based on our research and standard. Means Price Area Speed Management Security ○ ○ ○ ○ ○ Partnering with overseas high quality ISP - to offer the fastest connection speed in the area, reasonable price, security and usability. Roaming × △ △ ○ ○ (Telecom carriers’ fixed-rate) There are problems with price and quality. (It costs from about JPY980 to JPY2,980/day, and it may cost more expensive.) Prepaid SIM △ △ ○ × ○ (Purchased overseas) Need knowledge to manage. (Local purchase, issues with data capacity, and periodical charge is required, etc.)

Free Wi-Fi Spot ○ × △ ○ × (Hotel, Café, etc.) Problem with coverage (with limited communication area), speed (depending on the user’s communication environment and traffic conditions), and security. Copyright(C) 2021 VISION INC. All Rights Reserved. 9 Comparison of Overseas Internet Connection Means ②

Roaming Free Wi-Fi Spot / Wi-Fi router rental Com- (Telecom carriers’ parison Hotel Wi-Fi fixed-rate) JPY980-2,980/day Need to check in advance the Free Wi-Fi spot Free JPY300-2,170/day contract details, compatible (Hotel * Round-the-world plan JPY2,980/day Fee Accommodation fee Apply for rental on the website. models, and settings, etc. Wi-Fi included) or JPY500-3,000 according to the plan. Hotel Wi-Fi ＋accommodation fee * Depending on your mobile carrier Fixed fee and stable speed Full security and compensation Easy to use You can use it comfortably thanks to the Advan- Easy to connect Area is limited, but it is provided free fixed fee. tage * Tethering is also available. of charge in many places, and it is Choose the communication capacity easy to connect. according to your situation. Expensive Be careful about More luggage Dis- Fee is more expensive than those for unauthorized access Wi-Fi rental. Need to carry a Wi-Fi router in addition to advan- It is easy to use, but it has some If the setting is wrong for data your smartphone. tage risks of virus infection and personal roaming, the fee can be more information being stolen by expensive. unauthorized access. If you connect the Internet at a stable Communication area is speed without worrying about additional limited, but you want to charges If you want to connect the save money. (You can use it with several people at a Reco- lower fee by splitting the bill) It is for users who only mmend internet easily Available anywhere. with your own device need to connect the No worry about busy access and overseas Internet in a difficulty to connect. limited amount of time. Copyright(C) 2021 VISION INC. All Rights Reserved. 10 “GLOBAL WiFi” Business Profit Structure

Items Summary Overseas Regular rental： Rental fee per day × number of days used Average: JPY1,000/day, Average number of days used: 7 days Options available such as insurance, mobile battery, etc. Sales GLOBAL WiFi for Biz： Monthly basic charge (JPY2,167) + data communication fee (plan) × number of days used Use service in Japan (Domestic option for teleworking) Domestic (in Japan) Rental fee per month (available for rental from 1 day) Average: Approx. JPY5,000/month, Average days used: 1.5 months (45 days) Data communication (telecom carriers in the world) Terminal price (mobile Wi-Fi routers) Cost of sales Recorded as rental asset (recorded by depreciation over 2 years) Outsourcing (commission paid to sales agents), etc. Personnel, advertising, shipping delivery, business consignment, credit card payment, etc. SG&A expenses Operation and rent of shipping centers, airport counters, customer centers, etc. Other SG&A expenses, etc.

Copyright(C) 2021 VISION INC. All Rights Reserved. 11 Utilize “CLOUD Wi-Fi Router” - Maximize Convenience and Cost Efficiency - A Wi-Fi router with next-generation communication technology that manages SIM on the cloud. No need to insert/change SIM physically. Communication lines of the world are available with only one device. The device settings can be adjusted remotely in the case of communication failure. The plan (data capacity) can be changed during the rental term.

Make the most of the characteristics of the CLOUD Wi-Fi router. Convert the Cloud Wi-Fi router used for overseas communication service to the domestic Wi-Fi router. Since a physical SIM card is not inserted in the router, it can be assigned to other routers depending on the communication status. * It can be operated even in the case that the number of rentals is more than the number of SIMs (efficient operation of communication costs).

You can use it Store SIMs all immediately over the world after turning on the cloud on the power!

Copyright(C) 2021 VISION INC. All Rights Reserved. 12 Expand Service Areas for Unlimited Plan - Competitive Advantage When Recovering Travel - Recently we tend to consume large amounts of data communication capacity, such as diversified smartphone apps, transmission and reception of large-volume images and videos, and SNS posting. Popular to share with multiple people such as friends and family members, and to use multiple devices (smartphones, tablets, laptops, etc.) for business. Expand the service areas and plans, responding to requests for the plan that can be used without worrying about data capacity and long-term use (extended overseas business trip period due to COVID-19). Increase choice ratio of unlimited plan ⇒ Improve ARPU.

Changes in the number of service countries Feb. 2019 4 Mar. 2020 74 Jun. 2019 71 Jun. 2020 91 Sep. 2019 72 Dec. 2019 73

Limited to travelers over 30 days Further expanded the coverage area. Start offering an Data New capacity unlimited plan Long-term discount Further expanded Available in the coverage area. 91 countries

Receive and return at domestic 17 airports, 34 counters, 36 Smart Pickup units, and return BOX. Installed automatic pick-up lockers at 11 airports.

Smart You can receive Automatic in 10 seconds. pick-up locker The service level is optimized according Pickup to customer. Available at Haneda, Narita, Kansai, and other airports!

Eliminate waiting time for customers who do not need explanation such as repeaters (Utilize Smart Pickups). Airport staffs respond to customers who need explanation (Utilize airport counters).

The highest number of airport counters in the industry Receive and Return according to At the airport By delivery At a convenience store Overseas destination customers needs Airport and other places to receive/return in Japan Hokuriku/Koshinetsu Hokkaido/Tohoku Niigata Airport New Chitose Airport★ Hokkaido/Tohoku Komatsu Airport★ Asahikawa Airport Kyushu/Okinawa Sendai Airport Fukuoka Airport★ Kanto Kita-kyushu Airport★ Narita Airport★ Hokuriku/Koshinetsu Oita Airport Haneda Airport★ Miyazaki Airport SHIBUYA“CHIKAMICHI” Kanto JR Miyazaki Sta. Tokai/Kansai Kyushu/Okinawa Kagoshima Airport★ Kansai Airport★ Naha Airport Chubu Airport★ Tokai/Kansai Miyako Shimojishima Airport★ Itami Airport★ ★Available for automatic pick-up lockers Copyright(C) 2021 VISION INC. All Rights Reserved. 25 Smart Strategy

Automatic pick-up locker Self check-in KIOSK terminal Immediate customer (Multi-language available and identification counter settlement function) (QR code reception counter) You can receive in 10 seconds without waiting.

Smart Pickup (Automatic pick-up locker) Reception Standby

Smart Pickup Smart Entry Smart Check

Shorten waiting time No congestion Improve convenience

Improve CS Increase sales

Evolve to more convenient, comfortable, relieved counters that meet each customer’s needs, responding to the increase in the number of rental (delivery) and optional services (compensation service, accessory etc.), for Japanese traveling overseas and foreign visitors to Japan.

Smart Strategy CLOUD WiFi Database

Collaboration Collaboration

Collaborate with each effort to further improve convenience

Acquire departing passengers on the day. ⇒ Increase number of users. * Respond to WEB application in front of the airport counter instantly in collaboration with the database.

Expand Tabi-naka services (including options), responding to customer requests. Support safe, secure, and comfortable travel. Emergency location information service Mobile battery

Advertising Translation device Add data capacity (destination information) (pocketalk, ili) during travel

Total data Add data capacity is 0 capacity

Transit GoPro HERO8 Mini photo printer

Damage Submerged Lost Theft Noise canceling earphones 360° camera

Belongings Delay Ultralight folding umbrella Insurance

Use existing customer base and provide useful information/services to solve problems during overseas travel. Overseas travelers In Japan, total approx. 4.06mn people/31.22mn nights Outbound (approx. 3.47mn people/24.29mn nights) + Inbound (approx. 0.99mn people/6.93mn nights) ＊ FY2019 results, our research

Advertising revenue Useful information ARPU improvement Useful services (Media) improvement

Promotional materials Airport counter Optional services that are convenient when traveling (included flyers)

Insurance, coupons, shop & duty-free shop, hotel & minpaku, tours, rental cars & limousine, tourist attractions, etc. 《Reference》 Settlement platform FY2018 results: approx. 3.6mn people/25.22mn nights ・Outbound... approx. 2.82mn people /19.76mn nights Guide customers to allied partners ・Inbound… approx. 0.78mn people /5.45mn nights Copyright(C) 2021 VISION INC. All Rights Reserved. 18 Pick up at Convenience Store - Gaining Competitive Advantage When Travel Recovers - Based on your convenience, another option is added: you can pick-up a Wi-Fi router at Seven-Eleven throughout Japan (excluding Okinawa) near your workplace or home. Provide an option to avoid crowded places such as airport counters. You can pick it up even at midnight if the store is open.

You can pick up at Seven-Eleven near you.

At Seven-Eleven At anytime Ready-to-go near you in advance

You can pick it up at You can pick it up even at You don’t need to wait at the Seven-Eleven near you. midnight if the store is open. airport counter. Copyright(C) 2021 VISION INC. All Rights Reserved. 19 Expand Unmanned Stores - Gaining Competitive Advantage When Travel Recovers - Increase unmanned stores with vending machines.

Where are they set up? (As of end of Jun. 2021) At Kita-kyushu airport, Miyako Shimojishima Airport * Plan to add more in the future.

What type of machines are set up? Smart Pickup + Return BOX (Available for pick-up and return)

Features Non-face-to-face receipt without waiting at the airport counter even during busy seasons (for repeaters who do not need explanation, and effective against COVID-19). Available 24 hours a day including early in the morning and late at night, when there are needs, but it is difficult to secure personnel. Also set up vending machines for pre-paid SIM for domestic use mainly for foreign travelers visiting Japan and those who are temporarily back to Japan. Possible to add touch points in a small space and at low cost (convenience improved and profits increased). Copyright(C) 2021 VISION INC. All Rights Reserved. 20 “GLOBAL WiFi” Business Rental Number Change

Our Wi-Fi rental service penetration ratio (Japan) * 17.3% 15.3% Overseas use share (Outbound: Japan ⇒ Overseas) 14.9% Domestic use share (Inbound: Overseas ⇒ Japan + Japanese) 11.7% Share in the Japanese market (Out + In) 8.3% 8.6% 6.4% 7.1% 4.4% 2.7% 4.7% 5.8% 7.8% 2.0% 1.4% 3.5% 0.4% 2.9% 0.3% 2.1% 2.2% 2.5% 3.1% 0.0% 0.2% 0.7% 1.2% FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 283 139 Annual rental number (Unit: 10 thousand） 7 Rental number 3 * Usage number of “GLOBAL WiFi for Biz” is not included. (2Q cumulative change)

Overseas business (Except for use in 223 59 28 Japan, Overseas ⇒ Overseas) 6 96 Domestic use (Inbound: Overseas ⇒ Japan + Japanese) 3 Overseas use (Outbound: Japan ⇒ 165 40 Overseas) 6 73 18 3 114 28 60 6 96 49 12 1 216 2 106 78 19 1 39 4 175 8 29 51 75 0.9 9 130 24 1 64 57 3 88 64 38 37 5 1 46 29 4 22 30 0.3 FY2016/2Q FY2017/2Q FY2018/2Q FY2019/2Q FY2020/2Q FY2021/2Q FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020 cumulative cumulative cumulative cumulative cumulative cumulative * Create from Japan Tourism Agency material and our research. Copyright(C) 2021 VISION INC. All Rights Reserved. 21 “GLOBAL WiFi” Business Market Size

Inbound (Foreign visitors to Japan) Overseas travelers in the world Approx. 31.88mn people for a year. (Number of international tourist arrivals) * Results in FY2019 A huge market of 1.46bn people. Approx. 4.11mn people for a year. * Results in FY2019 * Results in FY2020 (due to COVID-19) In 2020, the number of overseas travelers Government’s target 60mn people in 2030 decreased by 1.0bn from the previous year. Announced by UNWTO Japan Office on February 15, 2021. (bn people) Outbound (Japan → Overseas) (10 thou. people) 1.80 Approx. 20.08mn people for a year. * Results in FY2019 6,000 Forecast Approx. 3.17mn people for a year. 1.46 * Results in FY2020 (due to COVID-19) 1.40 1.33 1.24 Government’s 1.19 target 1.14 1.10 1.04 1.00 Inbound 3,188 Outbound 3,119 2,869

1,9732,403 1,341 835 1,036 621

1,895 2,008 1,699 1,849 1,747 1,690 1,621 1,711 1,788 1,900 411 317

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 ～ 2030 2011 2012 2013 2014 2015 2016 2017 2018 2019 ～ 2030 Create from JNTO materials, Reiwa1 edition tourism white paper, and the materials released by UNWTO Copyright(C) 2021 VISION INC. All Rights Reserved. 22 Information and Communications Service Business Growth Strategy (Competitive Advantage)

Have new dealings with one company in ten companies* that are newly established within Startup the year in Japan Companies The number of national corporate registration ... 118,999 (2020) Source: Ministry of Justice

WEB Strategy Ability to attract customers due to our own WEB marketing (Internet media strategy)

CRM (customer relations/continuous dealings) strategy, our own know-how Customer Loyalty Maximization of continued revenue ＝ Stock business Additional sales with high productivity (up/cross selling)

Products and services that lead to customers’ “sales improvement”, “cost reduction”, “efficiency improvement”, “communication activation”, and “DX promotion” (Products Products and that are less affected by the economy) services We have multiple business segments (each product), and the business structure can be changed according to the situation (economic conditions, trends, etc.) (a flexible business structure).

.com

Telephone Line Cellphone Office Website Support Security Electric Power Cloud App Arrangements Support Automation Service (SaaS) * Total number of companies established within 6 months (including sole proprietors), starting business with us (our research) The number of acquisitions will depend on the fluctuations in handling services and products. Copyright(C) 2021 VISION INC. All Rights Reserved. 23 Information and Communications Service Business Profit Structure

Summary OA equipment (multifunction printers, Items Fixed-line phones, cellphones, electric power, business phone system), website, and etc. security

Business brokerage fee (Brokerage Sales price commission) Paid by leasing and credit companies Sales Renewal commission (according to customers’ Maintenance fee usage situation) Paid by the manufacturers and factoring Paid by telecom carriers and primary sales agents

Terminal prices (cellphones) Equipment (OA equipment, and security) No cost of sales for fixed-line phones arrangements Paid to the manufacturers Cost of and electric power Outsourcing (commission paid to sales sales Paid to telecom carriers and primary distributors agents), etc. Outsourcing (commission paid to sales agents), etc.

Personnel expense SG&A Advertising expense (website, etc.) expenses Rent for call centers, etc. Other SG&A expenses, etc.

Copyright(C) 2021 VISION INC. All Rights Reserved. 24 Information and Communications Service Business Market Size Number of incorporation registrations (total) ： Number of registration of transfer of head office 118,999 and branch (total) ：162,475

Approx. 120 thousand companies annually. Approx. 160 thousand companies annually. (Continued increase trend due to aggressive establishment (Excluding the number of offices transferred that are not and corporate support by the government) obliged to apply for registration) Attract customers utilizing the know-how of web Cover change procedures, etc. on addition and relocation. marketing with approx. 15 years experience. Up/cross selling by advanced operations of Customer Target newly established companies. Loyalty Team (CLT). (10 thou.) 11.8 11.811.8 11.4 11.6 16.2 11.1 10.6 14.2 14.4 14.5 9.6 13.7 13.9 13.3 13.1 8.9 9.1 13.0 13.0

2011 2012 20132014 2015 2016 20172018 2019 2020 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Copyright(C) 2021 VISION INC. All Rights Reserved. 25 Information and Communications Service Business Business Model

“Vision Hybrid Synergy model” Sales improvement Existing users needs The business model built for 26 years since its Up selling Cost reduction foundation has been developed to all Cross selling needs (Pull) Efficiency businesses such as “GLOBAL WiFi” business. improvement Corporate sales strength (structure, know-how, CLT Communication needs various sales channels) Cross selling Improve customer activation needs Up selling satisfaction DX promotion Multi-job Apparent needs that promotion Membership customers are aware of User relationship strategy Existing users Enhance Subscription Marketing escalation promotion Management Develop new Strategy .com websites, Video Promote productivity customers Assets DX promotion Landing pages (LP) marketing improvement Analyze customer (Pull) SNS&email Big data Strategy attributes Improve gross profit, marketing Targeting gross profit margin Global planning and absolute amount DX promotion marketing marketing Strategic investment Improve (M&A, alliance) procurement

Sales improvement Sales Improve needs In-house SaaS average value promotion (escalation, visits, Cost reduction acquisitions) Existing users needs Efficiency DX promotion Up selling improvement Potential needs that customers are Enhance Enhance sales, Cross selling needs telemarketing Communication unaware of partner, FC (Push) Sales contact activation needs center Develop new customers DX promotion Definite targeting, timing (Push) sales, Life Time Value New users Copyright(C) 2021 VISION INC. All Rights Reserved. 26 Information and Communications Service Business Customer Service

Create values with advanced operations Customer Loyalty Team (CLT) From delivery procedure to after-sales follow-up Covers a wide range of operations

Customers

Sales rep Customer Loyalty Team

Proposal Subscription and Delivery After-sales Contract procedure follow-up Decide Arrange schedule in details Support Hearing Various Installation Provide arrangements Delivery information Copyright(C) 2021 VISION INC. All Rights Reserved. 27 Information and Communications Service Business “High Efficiency” Marketing

“High efficiency” marketing with combined three factors: web marketing × sales rep × CLT New Existing customers customers

Hear Acquire highly customers’ reliable actual issues and demand Proposal needs with high precision

Cooperation Cooperation

Web marketing Customer Loyalty team Team (CLT)

Sales rep

Copyright(C) 2021 VISION INC. All Rights Reserved. 28 Information and Communications Service Business Escalation (Cooperation among Divisions, Customer Referral) Organization culture that creates continuous evolution ○たゆまぬ進化を生みだす組織カルチャー High productivity generated by escalation system (cooperation among divisions事業部間連携（エスカレーション）が生みだす高い生産性 and customer referral) Customers

Improve productivity through flat and open culture, and the “escalation system” promoting cooperation among divisions

Cooperation

Cooperation Cooperation

Cooperation

Copyright(C) 2021 VISION INC. All Rights Reserved. 29 Information and Communications Service Business Subscription-based Business Model Subscription-based Business Model Provide optimum solutions according to the growth stage, continuing to stay close to the growth of customer companies. Structure that accumulates profits by our original know-how CRM (customer relations/continuous dealings). Offer products and services suitable for the business environment Offer OA equipment Offer in-house products Optimum and website support, and services solutions etc. suitable for the Consulting services suitable business environment Optimum for the business growth Consulting services solutions stage Optimum suitable for the Further growth solutions business growth stage stage

Early growth Increase employees stage coming from business Startup expansion Increase employees (Add communication stage coming from business lines, and numbers expansion of units, etc.) (Add communication lines, and numbers of units, etc.)

Current main targets Future targets “Reserves for Growth” “Companies in growth stages”

Number of affiliated companies Number of operation bases Airport counter (directly operated) Overseas Overseas Domestic Domestic 15 18 19 19 14 12 12 12 12 12 12 12 12 12 12

8 16 7 7 7 12 15 12 12 3

2017 2018 2019 2020 2021 2Q 2017 2018 2019 2020 2021 2Q

Number of employees (full-time) Personnel classification (full-time) Profession Female 649 649 616 Clerical 616 Male 586 593 586 84 593 Sales 56 57 497 205 497 72 174 206 198 41 228 210 146 200 205 191

412 444 410 395 351 337 350 331 265 314

2017 2018 2019 2020 2021 2Q 2017 2018 2019 2020 2021 2Q

Sales Gross profit (JPYmn, %) 27,318 Gross profit Gross profit margin 21,503 15,690 17,468 12,650 17,554 16,654 14,843 10,160 12,485 8,622 8,7938,775 10,185 6,909 5,651 58.8 58.1 57.9 57.4 52.8 55.5 55.3 52.7

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 Forecast Forecast

SG&A expenses Operating profit Operating profit SG&A expenses Operating profit margin 3,325 SG&A-to-sales ratio 12,365 2,484 12.2 10,165 8,372 8,6898,200 1,788 7,332 11.6 6,105 1,290 10.2 5,365 1,007 804 8.7 52.2 286 5.8 52.7 49.4 6.4 48.9 47.7 47.3 103 45.3 46.9 2.8 0.6 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 Forecast Forecast

2Q FY2021 *Fiscal period (Apr.-Jun.) Result Rental number Amount Corporate Corporate Individual Individual

34.9% 48.8% 51.2% 65.1%

2Q FY2020 *Fiscal period (Apr.-Jun.) Result Rental number Amount Corporate Corporate Individual Individual 13.4% 23.0%

86.6% 77.0%

2Q FY2021 *Cumulative period (Jan.-Jun.) Result Rental number Amount Corporate Corporate Individual Individual

38.3% 28.2%

61.7% 71.8%

2Q FY2020 *Cumulative period (Jan.-Jun.) Result Rental number Amount Corporate Corporate Individual Individual

32.7% 41.3%

67.3% 58.7%

2Q FY2021 *Fiscal period (Apr.-Jun.) Result Rental number Amount Repeat Repeat New New

39.1% 39.4% 60.9% 60.6%

2Q FY2020 *Fiscal period (Apr.-Jun.) Result Rental number Amount Repeat Repeat New New 21.6% 41.2%

78.4% 58.8%

2Q FY2021 *Cumulative period (Jan.-Jun.) Result Rental number Amount Repeat Repeat New New

56.3% 43.7% 52.5% 47.5%

2Q FY2020 *Cumulative period (Jan.-Jun.) Result Rental number Amount Repeat Repeat New New

50.8% 46.9% 53.1% 49.2%

2Q FY2021 (Apr.-Jun.) Result Age Gender, Corporate or individual 4.3%

12.7% 7.4% 7.0% 8.2% 16.5% 7.8% 9.1% 36.3%

9.6% 10.4% 37.8% 9.4% 13.2% 10.3%

Under 18 19-24 25-29 30-34 Individual / Female Individual / Male 35-39 40-44 45-49 50-54 55-59 Over 60 Unknown Corporate / Female Corporate / Male 2Q FY2020 (Apr.-Jun.) Result Age Gender, Corporate or individual 0.5% 6.9% 21.6% 8.1% 12.6% 3.5% 8.4% 22.4% 5.3% 9.7% 47.3% 8.5% 9.6% 18.0% 17.8%

Under 18 19-24 25-29 30-34 Individual / Female Individual / Male 35-39 40-44 45-49 50-54 55-59 Over 60 Unknown Corporate / Female Corporate / Male Copyright(C) 2021 VISION INC. All Rights Reserved. 38 Customer Attributes (Age/Gender) “GLOBAL WiFi” Business Overseas Use (Outbound)

2Q FY2021 (Apr.-Jun.) Result Age (Male) Age (Female) 3.4% 7.8% 6.4% 5.3% 7.7% 6.7% 12.9% 12.1% 11.9% 8.9% 5.8% 8.5% 9.7% 8.9% 11.3% 9.8% 9.6% 10.5% 11.2% 7.9% 13.9% 9.7%

Under 18 19-24 25-29 30-34 Under 18 19-24 25-29 30-34 35-39 40-44 45-49 50-54 35-39 40-44 45-49 50-54 55-59 Over 60 Unknown 55-59 Over 60 Unknown 2Q FY2020 (Apr.-Jun.) Result Age (Male) Age (Female) 0.0% 1.7%

6.5% 8.2% 8.1% 21.0% 7.7% 8.5% 22.9% 4.1% 2.0% 8.1% 5.6% 10.0% 4.7% 9.1% 7.6% 10.4% 10.6% 7.4% 18.0% 17.8%

Under 18 19-24 25-29 30-34 Under 18 19-24 25-29 30-34 35-39 40-44 45-49 50-54 35-39 40-44 45-49 50-54 55-59 Over 60 Unknown 55-59 Over 60 Unknown Copyright(C) 2021 VISION INC. All Rights Reserved. 39 Customer Attributes (Age/Gender) “GLOBAL WiFi” Business Domestic Use (Except for teleworking, etc.)

2Q FY2021 *Fiscal period

(Apr.-Jun.) Result 1.2% Age 0.0% Gender 5.2% 1.6%

16.3% 23.9% 40.0% 60.0% 24.4% 27.5%

Under 19 20-29 30-39 40-49 Male Female 50-59 60-69 Over 70 Unknown 2Q FY2020 *Fiscal period (Apr.-Jun.) Result 0.0% Gender 0.8% Age 1.2% 4.2%

14.5% 24.6% 38.0%

24.8% 62.0% 29.7%

Under 19 20-29 30-39 40-49 Male Female 50-59 60-69 Over 70 Unknown

2Q FY2021 *Cumulative period

(Jan.-Jun.) Result 1.1% Age 0.0% Gender 5.0% 1.6%

15.9% 24.9% 40.1% 59.9% 24.5% 27.1%

Under 19 20-29 30-39 40-49 Male Female 50-59 60-69 Over 70 Unknown 2Q FY2020 *Cumulative period (Jan.-Jun.) Result 0.2% Gender 0.8% Age 1.5% 4.2%

14.6% 24.2% 39.4%

25.9% 60.6% 28.5%

Under 19 20-29 30-39 40-49 Male Female 50-59 60-69 Over 70 Unknown

2Q FY2021 *Fiscal period Age (Male) Age (Female) (Apr.-Jun.) Result 1.4% 0.0% 1.5% 0.8% 0.0% 6.1% 3.8% 1.7%

16.7% 16.0% 23.3% 24.7%

23.4% 26.0% 28.3% 26.4%

Under 19 20-29 30-39 40-49 Under 19 20-29 30-39 40-49 50-59 60-69 Over 70 Unknown 50-59 60-69 Over 70 Unknown 2Q FY2020 *Fiscal period (Apr.-Jun.) Result 1.1% Age (Male) 0.2% 0.6%Age (Female) 0.0% 4.9% 1.7% 3.0% 1.2% 13.8% 15.6% 21.2% 24.3%

27.0% 27.7% 27.7% 30.0%

Under 19 20-29 30-39 40-49 Under 19 20-29 30-39 40-49 50-59 60-69 Over 70 Unknown 50-59 60-69 Over 70 Unknown

2Q FY2021 *Cumulative period Age (Male) Age (Female) (Jan.-Jun.) Result 1.3% 0.0% 1.5% 0.7% 0.0% 6.0% 3.5% 1.8%

16.0% 15.8% 24.3% 25.7%

23.5% 26.1% 27.7% 26.1%

Under 19 20-29 30-39 40-49 Under 19 20-29 30-39 40-49 50-59 60-69 Over 70 Unknown 50-59 60-69 Over 70 Unknown 2Q FY2020 *Cumulative period (Jan.-Jun.) Result 1.0% Age (Male) 0.1% 0.6%Age (Female) 0.3% 5.0% 1.4% 3.1% 1.6%

14.9% 24.6% 14.3% 23.7%

24.6% 28.0% 28.6% 28.4%

Under 19 20-29 30-39 40-49 Under 19 20-29 30-39 40-49 50-59 60-69 Over 70 Unknown 50-59 60-69 Over 70 Unknown

Materials and information provided in this announcement include so-called “forward-looking statements.” They are estimated at the present and are based on the assumption that involves forecasts and risks, and substantially they include uncertainties which could cause different results from these statements. These risks and uncertainties include general industry and market conditions, and general domestic and international economic conditions, such as interest rates and currency exchange fluctuations. In the future, even if there is new information or future events etc., we shall not be obligated to update and revise the “forward-looking statements” included in this announcement.

Vision Inc. Contact： Investor Relations Dept. [email protected]