20200206 Information Meeting Materials for the First Three ... · Fiscal 2020 First Three Quarters:...
Transcript of 20200206 Information Meeting Materials for the First Three ... · Fiscal 2020 First Three Quarters:...
© 2020 TIS Inc.
Information Meeting Materials
for the First Three Quarters of the Fiscal Year
Ending March 31, 2020
February 6, 2020
© 2020 TIS Inc. 2
Fiscal 2020 First Three Quarters Financial Highlights
Fiscal 2020 Performance Forecast
Reference Materials
© 2020 TIS Inc. 3
Fiscal 2020 First Three Quarters: Financial Highlights
• Against a favorable business backdrop, sales and income were up over the corresponding period a year ago, thanks to higher business volume and efforts to improve profitability.
In sectors where IT investment is showing
renewed growth, we emphasized accurate
identification of client needs and were
rewarded with higher sales, year-on-year.
Up year on year, paralleling increase in
operating income.
Increase in gross profit, reflecting higher net sales
starting point and enhanced profitability,
absorbed rising selling, general and administrative
expenses, primarily costs associated with stronger
response to restructuring. Operating income was
up year-on-year.
[Millions of yen]
8.3% 9.4%
First Three Quarters of Fiscal 2019
First Three Quarters of Fiscal 2020
First Three Quarters of Fiscal 2019
First Three Quarters of Fiscal 2020
5.6% 6.4%
First Three Quarters of Fiscal 2019
First Three Quarters of Fiscal 2020
Operating margin
Net income to net sales ratio
YOY change: +¥16,048 million [+5.3%] YOY change: +¥5,080 million [+20.3%] YOY change: +¥3,456 million [+20.4%]
Operating Income Net Income Attributable to Owners of the Parent Company Net Sales
302,961 319,009
25,022
30,103
16,979
20,436
Extraordinary income: ¥7,232 million (YOY change - ¥7,128 million) Extraordinary loss: ¥7,196 million (YOY change - ¥6,051 million
© 2020 TIS Inc. 4
Fiscal 2020 First Three Quarters: Sales and Income for Key Segments-1
4.9%
7.2%
First Three Quarters of Fiscal 2019
First Three Quarters of Fiscal 2020
First Three Quarters of Fiscal 2019
First Three Quarters of Fiscal 2020
First Three Quarters of Fiscal 2019
First Three Quarters of Fiscal 2020
6.2% 5.7%
First Three Quarters of Fiscal 2019
First Three Quarters of Fiscal 2020
YOY change: -¥146 million [-2.8%] YOY change: +¥413 million [+30.5%]
Service IT Business BPO
Operating Income Operating Income
YOY change: +¥5,754 million [+6.8%] YOY change: -¥3,116 million [-11.2%]
Net Sales Net Sales
84,146
5,258 5,112
89,901 27,736 24,619
1,354
1,767
Sales increased year on year, mainly due to expanded payment settlement-related business. Operating income decreased year on year, primarily due to higher prior investment to reinforce business pursuits as well as revision in strategy to strengthen platform business.
Impact from sale of subsidiaries, undertaken in previous fiscal year as part of effort to concentrate resources into core operations, had big impact, leading to lower sales but higher income.
[Millions of yen]
Operating margin
Operating margin
*Segment sales include intersegment sales.
© 2020 TIS Inc. 5
Financial IT Business Industrial IT Business
Fiscal 2020 First Three Quarters: Sales and Income for Key Segments-2
6.9% 8.7%
First Three Quarters of Fiscal 2019
First Three Quarters of Fiscal 2020
First Three Quarters of Fiscal 2019
First Three Quarters of Fiscal 2020
First Three Quarters of Fiscal 2019
First Three Quarters of Fiscal 2020
11.5% 12.8%
First Three Quarters of Fiscal 2019
First Three Quarters of Fiscal 2020
YOY change: +¥1,520 million [+16.9%] YOY change: +¥3,374 million [+36.6%]
YOY change: +¥4,009 million [+5.1%] YOY change: +¥11,036 million [+8.3%]
Operating Income Operating Income
Net Sales Net Sales
77,953
8,989 10,510
81,963 133,470
144,506
9,226
12,601
Despite impact from reactionary drop in demand for large system development projects, segment recorded higher sales and income, mainly due to wider IT investment activity by core clients.
Higher sales and income year on year, largely the result of greater IT investment activity among wide range of industries, including core clients in energy- and manufacturing-based industries.
*Segment sales include intersegment sales.
Note: Paralleling a shift—from Industrial IT Business to Financial IT Business—in know-how used in services provided to specific clients, transactions with such clients
were booked under Industrial IT Business up to fiscal 2019 and Financial IT Business from fiscal 2020.
[Millions of yen]
Operating margin
Operating margin
© 2020 TIS Inc. 6
Fiscal 2020 First Three Quarters: Net Sales and Operating Income Analysis
First Three Quarters of Fiscal 2019
302.96
319.00
25.02
30.10
Service IT +5.75
[84.1489.90]
Service IT -0.14
[5.25 5.11]
BPO +0.41
[1.35 1.76]
Financial IT +1.52
[8.98 10.51]
Other -0.04
[0.71 0.67]
Inter-segment -0.03
[-0.52 -0.55]
+16.04 [+5.3%]
+5.08 [+20.3%]
BPO -3.11
[27.73 24.61]
Financial IT +4.00
[77.95 81.96]
Other -0.30
[6.80 6.49]
Inter-segment -1.33
[-27.14 -28.47]
Net Sales
Operating Income
Industrial IT +3.37
[9.22 12.60]
Industrial IT +11.03
[133.47 144.50]
[Billions of yen]
First Three Quarters of Fiscal 2019
First Three Quarters of Fiscal 2020
First Three Quarters of Fiscal 2020
© 2020 TIS Inc. 7
Prior investment costs incurred in promoting structural transformation: Up ¥1.39 billion (YOY)
Costs related to
Fiscal 2020 First Three Quarters: Operating Income Analysis, Increase/Decrease Reasons
First Three Quarters of Fiscal 2019
25.02
30.10
Increased sales +3.80
+5.08 [+20.3%]
Improved Profitability
+4.40
Increased SGA expenses
-3.12
Increased gross profit +8.20
YOY Change
Gross profit margin
Actual 23.4%
[YOY change +1.5 points]
Brand-related costs incurred to ensure quick recognition in market: Up ¥80 million (YOY)
[Billions of yen]
First Three Quarters of Fiscal 2020
Software investment to create new services
Investment in human resources to fuel structural transformation
Investment in R&D to acquire advanced technologies
© 2020 TIS Inc. 8
6.3% 7.0%
3rd Quarter of Fiscal 2019
3rd Quarter of Fiscal 2020
Services IT Business
3rd Quarter of Fiscal 2019
3rd Quarter of Fiscal 2020
9.5% 10.7%
3rd Quarter of Fiscal 2019
3rd Quarter of Fiscal 2020
3rd Quarter of Fiscal 2019
3rd Quarter of Fiscal 2020
6.7% 8.8%
3rd Quarter of Fiscal 2019
3rd Quarter of Fiscal 2020
99,931 102,713 9,480
11,003 6,287
7,169
+2,782 [+2.8%]
+882 [+14.0%]
+1,523 [+16.1%]
Operating margin
27,990 30,033
1,861
2,654
Net Sales Operating Income Net Income Attributable to
Owners of the Parent Company
BPO
3rd Quarter of Fiscal 2019
3rd Quarter of Fiscal 2020
5.7% 9.2%
3rd Quarter of Fiscal 2019
3rd Quarter of Fiscal 2020
61,930 63,000
(計画)
5,179 4,800
営業利益率
(計画)
営業利益
Financial IT Business
3rd Quarter of Fiscal 2019
3rd Quarter of Fiscal 2020
13.0% 13.5%
3rd Quarter of Fiscal 2019
3rd Quarter of Fiscal 2020
25,230 26,506
3,273 3,584
Industrial IT Business
3rd Quarter of Fiscal 2019
3rd Quarter of Fiscal 2020
8.7% 9.1%
3rd Quarter of Fiscal 2019
3rd Quarter of Fiscal 2020
43,605 45,092
3,805 4,088
9,476 8,397
539
773
+2,042 [+7.3%]
+792 [+42.6%]
-1,079 [-11.4%]
+234 [+43.5%]
+1,276 [+5.1%]
+310 [+9.5%]
+1,487 [+3.4%]
+282 [+7.4%]
(Reference) Fiscal 2020 Third Quarter (October - December) : Sales and Income for Key Business Segments
[Millions of yen]
Net Sales Net Sales Net Sales Net Sales
Operating Income Operating Income Operating Income Operating Income
Net income to net sales ratio
Operating margin Operating
margin
Operating margin Operating
margin
*Segment sales include intersegment sales.
© 2020 TIS Inc. 9
(Reference) Fiscal 2019 Third Quarter (October-December): Operating Income Analysis, Increase/Decrease Reasons
9.48
11.00
Increased sales +0.71
+1.52 [+16.1%] Improved
profitability +2.16
Increased SGA expenses
-1.35
[Billions of yen]
YOY Change
Prior investment costs incurred in promoting structural transformation: Up ¥0.39 billion (YOY)
Costs related to
Brand-related costs incurred to ensure quick recognition in market: Up ¥80 million (YOY)
Software investment to create new services
Investment in human resources to fuel structural transformation
Investment in R&D to acquire advanced technologies
Third Quarter of Fiscal 2019
Third Quarter of Fiscal 2020
Gross profit margin
Actual 25.3%
[YOY change +2.2 points]
Increased gross profit +2.87
© 2020 TIS Inc. 10
Fiscal 2020 First Three Quarters: Sales by Client Sector
54,720
18,399 20,103 14,071
33,262 28,337 23,862
73,812
23,344
13,046
53,741
22,187 21,584 17,411
32,877 28,594 24,874
82,066
24,032
11,639
Credit card Banking Insurance Other finance Assembly-based manufacturing
Processing-based manufacturing
Distribution Service Public institutions Others
First Three Quarters of Fiscal 2019 First Three Quarters of Fiscal 2020
16.8%
7.0%
6.8%
5.5%
10.3% 9.0%
7.8%
25.7%
7.5%
3.6%
18.1%
6.1%
6.6%
4.6%
11.0% 9.3%
7.9%
24.4%
7.7%
4.3%
Credit card
Banking
Insurance
Other finance
Assembly-based
manufacturingProcessing-based
manufacturingDistribution
Service
Public institutions
Others
Net Sales Break-
down by Client Sector
Net Sales Break-
down by Client Sector
[-1.8%]
[+20.6%]
[-1.2%] [+0.9%]
[+4.2%] [+2.9%]
[+11.2%]
[+7.4%] [-10.8%] [+23.7%]
[Millions of yen]
First Three Quarters of Fiscal 2019 First Three Quarters of Fiscal 2020
Financial sector: 35.4 % Industrial sector: 52.6 %
Public sector: 7.7 % Other sectors: 4.3%
Financial sector: 36.1 % Industrial sector: 52.8 %
Public sector: 7.5 % Other sectors: 3.6 %
© 2020 TIS Inc. 11
• Orders received during the first three quarters and order backlog at the end of the third quarter were up over the corresponding period a year ago and moving at a brisk pace. Results driven by Service IT Business, particularly payment services.
Fiscal 2020 First Three Quarters: Order Status (Software Development)
45,762 47,797
34,883 41,419
First Three Quarters of Fiscal 2019
First Three Quarters of Fiscal 2020
19,538 23,011
15,109 17,669
First Three Quarters of Fiscal 2019
First Three Quarters of Fiscal 2020
167,241 175,008
72,428 77,328
YOY change +¥7,766 million [+4.6%] YOY change +¥4,899 million [+6.8%]
Order received during first three quarters
Order backlog at end of first three quarters
[+18.7%]
[+4.4%]
[-0.9%]
[+16.9%]
[+17.8%]
[-3.0%] 86,596 85,791 37,780 36,647
[Millions of yen]
Services IT Business
Financial IT Business
Industrial IT Business
Services IT Business
Financial IT Business
Industrial IT Business
* Percentage figures in columns indicate increase or decrease from the previous term.
Note: Paralleling a shift—from Industrial IT Business to Financial IT Business—in know-how used in services provided to specific clients, transactions with such clients
were booked under Industrial IT Business up to fiscal 2019 and Financial IT Business from fiscal 2020.
© 2020 TIS Inc. 12
1st Half 2nd Half 1st Half 2nd Half 1st Half 2nd Half 1st Half 2nd Half
Fiscal 2017 Fiscal 2018 Fiscal 2019 Fiscal 2020
54,753 [+12.2%]
56,623 [+11.5%]
62,826 [+1.8%]
51,133 [+12.9%]
53,437 [+0.1%]
104,569 [+6.0%]
46,318 [-1.6%]
57,419 [-6.8%]
103,737 [-4.6%]
52,047 [+1.8%]
54,949 [+2.8%]
106,996 [+2.3%]
48,802 [+5.4%]
63,427 [+10.5%]
112,229 [+8.2%]
50,779 [-2.4%]
61,709 [+12.3%]
112,488 [+ 5.1%]
71,057 [+12.0%]
125,810 [+12.1%] 119,450
[+6.2%]
Changes in Orders Received (Software Development)
55,558 [+1.5%]
[Millions of yen]
* Percentage figures in columns indicate increase or decrease from the previous term.
Second quarter of first half
First quarter of first half
Fourth quarter of second half
Third quarter of second half
© 2020 TIS Inc. 13
Changes in Orders Received (Software Development, by Business Segment)
10,690
10,699
21,389
11,360 [+20.2%]
12,630 [+6.0%]
23,990 [+12.3%]
14,340 [+23.4%]
1st Half 2nd Half 1st Half 2nd Half 1st Half 2nd Half
Fiscal 2018 Fiscal 2019 Fiscal 2020
29,293 [+3.2%]
12,990 [+20.6%]
14,228
17,145
31,373
14,181 [-9.0%]
23,411 [-2.5%]
37,592 [-5.0%]
27,128
27,105
54,233
29,212 [+22.9%]
35,014 [+27.3%]
64,226 [+25.3%]
9,454
11,914
21,368
15,577
24,013
39,590
23,772
27,500
51,272
11,623 [+8.7%]
11,900 [+11.2%]
23,523 [+10.0%]
10,771 [-24.3%]
20,810 [+21.4%]
31,581 [+0.7%]
28,384 [+4.6%]
29,000 [+7.0%]
57,384 [+5.8%]
27,941 [+18.8%]
13,601 [+14.3%]
32,082 [+1.6%]
19,092 [-8.3%]
59,425 [+3.6%]
30,132 [+3.9%]
13,477 [+18.6%]
15,714 [+10.8%]
26,365 [-9.7%]
[Millions of yen]
Services IT Business
Financial IT Business
Industrial IT Business
* Percentage figures in columns indicate increase or decrease from the previous term.
Note: Paralleling a shift—from Industrial IT Business to Financial IT Business—in know-how used in services provided to specific clients, transactions with such clients
were booked under Industrial IT Business up to fiscal 2019 and Financial IT Business from fiscal 2020.
Second quarter of first half
First quarter of first half
Fourth quarter of second half
Third quarter of second half
© 2020 TIS Inc. 14
Fiscal 2020 First Three Quarters Financial Highlights
Fiscal 2020 Performance Forecast
Reference Materials
© 2020 TIS Inc. 15
Fiscal 2020: Performance Forecasts-1
Fiscal 2019 Fiscal 2020
9.0%
Fiscal 2019 Fiscal 2020
6.2%
Fiscal 2019 Fiscal 2020
Operating margin
420,769 436,000 38,043
42,000
26,034 28,800
[Estimate]
YOY Change : +¥15,231 million [+3.6%] YOY Change : +¥3,957 million [+10.4%] YOY Change : +¥2,766 million [+10.6%]
9.6% 6.6%
• Amid a brisk demand environment, vigorously invest in growth domains and forte fields to facilitate structural transformation described in medium-term management plan. Offset reactionary drop in large projects and absorb investment costs, in pursuit of higher sales and income.
No change to targets since announcement on November 1, 2019.
Focusing on service IT and industrial IT demand, strive to expand business through accurate responses to IT investment needs of clients. Will absorb impact from sale of subsidiaries and expect high sales year on year.
Continued efforts to utilize high sales effect and improved productivity. Will absorb higher cost burden on investments to fuel structural transformation including shift to prior investment approach. Should see year-on-year increase in operating income.
Increase in operating income and net extraordinary income should deliver year-on-year improvement in income attributable to owners of the parent company.
[Millions of yen]
Net Sales Operating Income
[Estimate]
[Estimate]
Net Income Attributable to Owners of the Parent Company
Net income to net sales
ratio
© 2020 TIS Inc. 16
Fiscal 2020: Performance Forecasts-2
YOY change: +¥35.24 [+11.4%]
Fiscal 2019 Fiscal 2020
11.5%
Fiscal 2019 Fiscal 2020
12.1% [Current calculations]
343.07
307.83
YOY change: +0.6P
Net Income per Share ROE
*Forecast for net income per share calculated by dividing anticipated
net income attributable to owners of parent by average number of
shares outstanding (excluding treasury stock) for the first three
quarters of fiscal 2020, as of December 31, 2019.
Upward revision to full-year performance targets is key factor in expectation to achieve medium-term management plan target of 12% a year ahead of schedule.
• ROE expected to reach 12.1%, exceeding medium-term management plan final-year target of 12% a year ahead of schedule.
Anticipating year-on-year improvement, paralleling higher net income attributable to owners of parent.
[Yen]
[Estimate]
© 2020 TIS Inc. 17
5.1% 6.5%
Fiscal 2019 Fiscal 2020
Fiscal 2019 Fiscal 2020 Fiscal 2019 Fiscal 2020
7.2% 6.4%
Fiscal 2019 Fiscal 2020
117,617
8,519
36,231 32,400
1,843 2,100
Sales should increase year on year, as TIS INTEC Group meets IT investment needs in growth fields, such as the cloud and networks, and steadily capitalizes on greater demand for payment settlement and ERP services. Despite this, income may decrease year on year, mainly due to the losses booked in the first half period.
YOY change: +¥257 million [+13.9%]
7,900
122,900
YOY change: -¥3,831 million [-10.6%]
Service IT Business BPO
Despite year-on-year drop in sales due to sale of subsidiaries, operating income should rise, reflecting efforts to improve profitability through restructuring based on thorough profit management and a shift toward high-level, combined BPO services.
Operating Income
Net Sales
Operating Income
Net Sales
YOY change: +¥5,283 million [+4.5%]
YOY change: -¥619 million [-7.3%]
[Estimate]
[Estimate]
[Estimate]
[Estimate]
Operating margin
Operating margin
*Segment sales include intersegment sales.
[Millions of yen]
Fiscal 2020: Sales and Income for Key Business Segments -1 [Forecast]
© 2020 TIS Inc. 18
7.8% 9.1%
Fiscal 2019 Fiscal 2020
Fiscal 2019 Fiscal 2020 Fiscal 2019 Fiscal 2020
12.0% 12.7%
Fiscal 2019 Fiscal 2020
106,436
12,797
189,595 199,800
14,777
18,100 13,900
109,800
Financial IT Business Industrial IT Business
Despite reactionary drop in sales associated with large projects, operating income should increase year on year, reflecting efforts to strengthen ties to core clients, engage in value-added services and improve productivity.
Anticipating higher sales and income year on year through high-value-added services underpinned by consultations and enhanced upstream operations as well as higher productivity.
Operating Income
Net Sales
Operating Income
Net Sales
YOY change: +¥3,364 million [+3.2%] YOY change: +¥10,205 million [+5.4%]
YOY change: +¥3,323 million [+22.5%] YOY change: +¥1,103 million [+8.6%]
[Estimate]
[Estimate]
[Estimate]
[Estimate]
[Millions of yen]
*Segment sales include intersegment sales.
Note: Paralleling a shift—from Industrial IT Business to Financial IT Business—in know-how used in services provided to specific clients, transactions with such clients
were booked under Industrial IT Business up to fiscal 2019 and Financial IT Business from fiscal 2020.
Operating margin
Operating margin
Fiscal 2020: Sales and Income for Key Business Segments -2 [Forecast]
© 2020 TIS Inc. 19
Fiscal 2019 Fiscal 2020
38.04
42.00
Increased sales +3.64
+3.95 [+10.4%]
Improved profitability
+4.07
Increased SGA expenses
-3.76
Increased gross profit +7.71
Fiscal 2020 : Net Sales and Operating Income Analysis [Forecast]
[Billions of yen]
Gross profit margin
Actual 23.5%
[YOY change +1.0 points]
Anticipate prior investment costs for promoting structural transformation : Up ¥2.5 billion (YOY)
Costs related to
Anticipate brand-related costs to ensure quick recognition in market: Up ¥500 million (YOY)
Software investment to create new services
Investment in human resources to fuel structural transformation
Investment in R&D to acquire advanced technologies
YOY Change
© 2020 TIS Inc. 20
Stock Split and Partial Amendment to Articles of Incorporation
■Stock Split
• Management has decided to execute a 1-for-3 stock split with a record date of March 31, 2020, and to partially amend the Articles of Incorporation.
■Partial Amendment to Articles of Incorporation
Purpose: To increase the liquidity of the Company’s stock and expand the Company’s investor base by lowering stock price per investment unit
Summary
Reason: In conjunction with the stock split, TIS will adjust the total number of authorized shares described in Article 5 of the Company’s Articles of Incorporation, effective April 1, 2020, in accordance with the provisions of Article 184, Paragraph 2 of the Companies Act.
Content
Method Split into three shares for every one share of ordinary stock
Number of shares outstanding before split
87,789,098 shares
Number of shares outstanding after split
263,367,294 shares (Number of shares added through stock split: 175,578,196 shares)
Date of record March 31, 2020 (planned)
Effective date April 1, 2020 (planned)
Total number of authorized shares before amendment
280,000,000 shares
Total number of authorized shares after amendment
840,000,000 shares
© 2020 TIS Inc. 21
Fiscal 2020 First Three Quarters Financial Highlights
Fiscal 2020 Performance Forecast
Reference Materials
© 2020 TIS Inc. 22
7.0% 7.1%
Second Half of Fiscal 2019
Second Half of Fiscal 2020
Service IT Business
Second Half of Fiscal 2019
Second Half of Fiscal 2020
10.3% 10.4%
Second Half of Fiscal 2019
Second Half of Fiscal 2020
Second Half of Fiscal 2019
Second Half of Fiscal 2020
8.3% 8.6%
Second Half of Fiscal 2019
Second Half of Fiscal 2020
217,739 219,704 22,501 22,900 15,342 15,534
+1,965 [+0.9%]
+192 [+1.3%]
+399 [+1.8%]
61,461 63,033
5,123 5,443
BPO
Second Half of Fiscal 2019
Second Half of Fiscal 2020
5.7% 6.8%
Second Half of Fiscal 2019
Second Half of Fiscal 2020
61,930 63,000 (計画)
5,179 4,800
営業利益率
(計画)
営業利益
Financial IT Business
Second Half of Fiscal 2019
Second Half of Fiscal 2020
13.2% 12.8%
Second Half of Fiscal 2019
Second Half of Fiscal 2020
53,713 54,344
7,082 6,975
Industrial IT Business
Second Half of Fiscal 2019
Second Half of Fiscal 2020
9.4% 9.6%
Second Half of Fiscal 2019
Second Half of Fiscal 2020
99,731 100,387
9,357 9,588
17,972 16,179
1,028 1,107
+1,572 [+2.6%]
+320 [+6.2%]
-1,793 [-10.0%]
+79 [+7.7%]
+631 [+1.2%]
-107 [-1.5%]
+656 [+0.7%]
+231 [+2.5%]
Fiscal 2020 Second Half: Sales and Income for Key Business Segments [Forecast]
[Millions of yen]
Net Sales Net Sales Net Sales Net Sales
Operating Income Operating Income Operating Income Operating Income
*Estimated amounts for the second half of Fiscal 2020 are calculated by subtracting the first half results from the annual estimates of Fiscal 2020.
*Segment sales include intersegment sales.
[Estimate]
[Estimate] [Estimate]
[Estimate] [Estimate] [Estimate]
[Estimate]
[Estimate] [Estimate]
[Estimate] [Estimate]
Net Sales Operating Income Net Income Attributable to
Owners of the Parent Company
Operating margin Operating
margin
Operating margin
Operating margin
Operating margin
TIS INTEC Group Logo Underlying Concepts
The logo portrays the TIS INTEC Group as a tightly knit team, powered forward by the different sets of expertise that each member brings to the table. It
features our two main corporate colors: “ocean blue” for the new challenges that we are constantly tackling, and “intelligent gray” for the solid technological
foundations that underpin our business.
Brand Message “Go Beyond”
The brand tagline, “Go Beyond,” embodies our constant quest into the beyond in search of new challenges. It represents our firm commitment as a group to
delivering solutions that are always one step ahead, not only solving clients’ problems but anticipating and meeting their own customers’ needs too.
Cautionary Statements
• All statements described in these materials are based on information available to management regarding the TIS INTEC Group—that is, TIS and the
subsidiaries under its umbrella—as of the presentation date and certain assumptions deemed reasonable at this time. No intent is implied of promise by
the Company to achieve such forward-looking statements. Indeed, various factors may cause future results to be substantially different from the
assumptions presented in these materials.
• Amounts for each three-month quarter are calculated by subtracting data for the respective period from the cumulative total.
• From the fiscal year ending March 31, 2019, Business segments were reclassified at TIS, paralleling changes in the management structure designed to
promote the shift to a new business structure. For comparison purposes, figures for fiscal 2018 have been recalculated and are presented according to the
new segment breakdown