ValueCommerce : Summary of Financial Results for the second quarter 2020

This filing was originally prepared and published by the company in Japanese as it contained timely disclosure information to be submitted to the Tokyo Stock Exchange (1st section). The English translation is for your reference only. To the extent there is any discrepancy between this English translation and the original Japanese filing, the Japanese filing will prevail. The following financial information was prepared in accordance with generally accepted accounting principles in Japan (JGAAP).

Financial Results (Consolidated) for Q1-Q2(Cumulative) of FY2020

		July 30, 2020
Corporate Name:	ValueCommerce Co., Ltd.	Listed: TSE 1st section
Ticker Symbol:	2491	URL: https://www.valuecommerce.co.jp/en/
Representative:	Representative Director, President and CEO	(Name) Jin Kagawa
Contact person:	Director of the Board, CFO	(Name) Masatomo Endo

							TEL: [phone]
Scheduled date of commencement of dividend payment:	August 31, 2020
Scheduled date of filing the securities report:		August 13, 2020
Results supplementary materials to be created:		Yes
An explanatory presentation to investors:		Yes
							(Amounts less than one million yen rounded down)
1. Consolidated Operating Results for the Second Quarter of FY2020 (Jan. 1 to Jun. 30, 2020)
(1) Consolidated Operating Results				(Percentage figures refer to comparisons with the preceding fiscal year)
									Net income
		Revenue		Operating income	Ordinary income	attributable to owners
									of the parent
		Million Yen		%	Million Yen	%	Million Yen	%	Million Yen		%
Q1-Q2(cumulative) FY2020		14,524		18.0	2,984	25.8	3,034	27.4	2,039		28.3
Q1-Q2(cumulative) FY2019		12,313		27.9	2,372	39.7	2,382	41.7	1,589		41.6

(Note) Comprehensive income:	Second quarter ended June 30, 2020:	2,031 million yen,	27.0%
		Second quarter ended June 30, 2019:	1,599 million yen,	35.0%
		Basic EPS		Diluted EPS
			(Diluted Earnings per
		(Earnings per share)
			share)
		Yen		Yen
Q1-Q2(cumulative) FY2020		63.14	63.08
Q1-Q2(cumulative) FY2019		49.22	49.16
(2) Consolidated Financial Positions
		Total assets		Net worth	Equity ratio		Book-value per share
		Million Yen		Million Yen		%	Yen
As of June 30, 2020		19,088		12,911		67.6	399.52
As of December 31, 2019		18,257		11,491		62.9	355.60

(Reference) Owners' equity:	As of June 30, 2020:	12,905 million yen
	As of December 31, 2019:	11,485 million yen
(Reference) For the second quarter of consolidated fiscal year under review, provisional accounting for business combinations has been
determined. Figures as of December 31, 2019 have been prepared based on the determined amounts.

2. Dividends

			Dividend per share
	Q1	Q2	Q3	Q4	Total
	Yen	Yen	Yen	Yen	Yen
FY2019	－	14.00	－	19.00	33.00
FY2020	－	16.00
FY2020 (Forecast)			－	18.00	34.00

(Note) Revisions to dividends forecast published most recently: No

3. Consolidated Operating Forecast for the Fiscal Year Ended Dec. 31, 2020 (Jan. 1 to Dec. 31, 2020)

(Percentage figures refer to comparisons with the preceding fiscal year)

								Net income		Basic EPS
	Revenue		Operating income	Ordinary income	attributable to owners	(Earnings
								of the parent		per share)
	Million Yen		%	Million Yen	%	Million Yen	%	Million Yen		%	Yen
FY2020	30,000		16.8	5,500	10.7	5,500	10.3	3,600		7.6	111.45

(Note) Revisions to operating forecast published most recently: No

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• Notes

1. Significant changes in scope of consolidation during this year: No
2. Application of specific accounting treatment to the preparation of quarterly consolidated financial statements: No
3. Changes in accounting policies and accounting estimates, retrospective restatement

1.	Changes in accounting policies due to amendment of accounting standards, etc.	:	No
2.	Changes in accounting policies other than "1."	:	No
3.	Changes in accounting estimates	:	No
4.	Retrospective restatement	:	No

(4) Number of shares issued (Common stock)
1.	Common stock		as of	34,471,000	shares	as of	34,471,000	shares
	(including treasury stock)		Jun. 30, 2020	December 31, 2019
2.	Treasury stock		as of	2,168,628	shares	as of	2,170,779	shares
	Jun. 30, 2020	December 31, 2019
3.	Average number of shares issued		average during	32,301,193	shares	average during	32,292,143	shares
(cumulative period)		Jan. 1 to Jun. 30, 2020	Jan. 1 to Jun. 30, 2019

* Quarterly review

This outline of quarterly consolidated financial statements is not subject to the quarterly review.

• Note on proper use of the financial forecasts and other special notes (Note on future descriptions)
  This filing contains future description such as financial outlook. They are based on information currently available to the company and on certain assumptions we deem reasonable. They are not intended to constitute the company's guarantee that the outlook and description will be realized. The actual results may differ materially from those described in this filing due to various factors.

(Method to reach supplementary materials)

The supplementary materials on financial results will be posted on the company's website.

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