For immediate release

Name of Listed Company:

Gurunavi, Inc.

Listed Stock Exchanges:

Tokyo Stock Exchange

Stock Code:

2440

Representative:

Akio Sugihara, President

Notice regarding Differences between Interim Financial Forecast

and Results for the Fiscal Year ending March 31, 2023

November 2, 2022 ̶ Gurunavi, Inc. (the "Company") announces differences between nterim financial forecast for the fiscal year ending March 31, 2023 (April 1, 2022 to September 30, 2022), announced on August 3, 2022 and the financial results announced today.

1. Differences between interim forecast and financial results for the fiscal year ended March 31, 2023 (April 1, 2022 to September 30, 2022)

Net loss

Basic loss

Net sales

Operating

Ordinary

attributable

loss

loss

to owners of

per share

parent

Forecast previously

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Yen

announced (A)

5,300

(2,500)

(2,500)

(2,330)

(43.76)

Financial results (B)

5,865

(1,609)

(1,565)

(1,405)

(26.96)

Difference (B-A)

565

890

934

924

Rate of difference (%)

10.7

－

－

－

(Reference)

6,105

(2,170)

(2,176)

(2,240)

(47.75)

Interim results for the fiscal

year ended March 31, 2022

2. Reasons of revision

Net sales exceeded the previous forecast, because the impact of the seventh wave of the spread of the COVID-19 such as decline in restaurants' motivation of sales promotion and increase in cancellation and reduction in the use of the Company's services was lower than expected and restaurant promotion services maintained a recovery trend, and orders from government agencies etc. were strong in promotion area.

In addition, expenses were lower than the previous forecast due to progress in controlling costs such as outsourcing expenses through narrowing down focus measures. As a result, each loss narrowed from the previous forecasts.

Regarding the consolidated full-year forecast, both sales and losses remain unchanged from the previous

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forecasts due to lower-than-expected sales in the third quarter mainly because of the delay in the realization of results of new services, and additional expenditures for advertising and sales promotion to stimulate consumer demand of eating out and to promote the use of the Company's services in the third quarter. In addition, the Company expects to return to profit in the fourth quarter in order to generate profits in the next fiscal year and beyond, and there is no change to this assumption.

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Gurunavi Inc. published this content on 02 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 November 2022 06:19:36 UTC.