Consolidated Financial Results for 1Q FY2025

August 4, 2025

Name of the Listed Company: Gurunavi, Inc.

Listed Stock Exchanges: Tokyo Stock Exchange Stock Code: 2440

URL: https://corporate.gnavi.co.jp/en/

Representative: Akio Sugihara, President and Representative Director

Contact: Teruhisa Yamada, Senior Managing Executive Officer TEL: +81-3-6744-6463

Scheduled date to commence dividend payments: –Preparation of supplementary materials on financial results: Yes

Holding of financial results presentation meeting: Yes (for institutional investors and analysts)

(Millions of yen with fractional amounts discarded, unless otherwise noted.)

1. Consolidated financial results for the three months ended June 30, 2025 (from April 1, 2025 to June 30, 2025)
   1. Consolidated operating results (cumulative) (Percentages indicate year-on-year changes.)

      	Net sales		Operating income		Ordinary income		Net income attributable to owners of parent
      Three months ended	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
      June 30, 2025	3,081	7.0	25	(82.2)	23	(82.0)	51	(55.5)
      June 30, 2024	2,879	11.3	144	–	130	–	115	–

      Note:	Comprehensive income
      	Three months ended June 30, 2025:	¥69 million	[	(26.5)%]
      	Three months ended June 30, 2024:	¥94 million	[	–%]

      	Basic earnings per share	Diluted earnings per share
      Three months ended	Yen	Yen
      June 30, 2025	0.90	0.90
      June 30, 2024	1.56	1.56

   2. Consolidated financial position

   	Total assets	Net assets	Equity ratio
   As of	Millions of yen	Millions of yen	%
   June 30, 2025	10,838	5,047	46.2
   March 31, 2025	11,128	4,978	44.3

   Reference: Equity

   As of June 30, 2025: ¥5,009 million As of March 31, 2025: ¥4,926 million

2. Cash dividends

   	Annual dividends
   	First quarter-end	Second quarter-end	Third quarter-end	Fiscal year-end	Total
   	Yen	Yen	Yen	Yen	Yen
   Fiscal year ended March 31, 2025	–	0.00	–	0.00	0.00
   Fiscal year ending March 31, 2026	–
   Fiscal year ending March 31, 2026 (Forecast)		0.00	–	0.00	0.00

   Note: Revisions to the cash dividend forecasts most recently announced: None

3. Consolidated earnings forecasts for the fiscal year ending March 31, 2026 (from April 1, 2025 to March 31, 2026)

   (Percentages indicate year-on-year changes.)

   	Net sales		Operating income		Ordinary	income	Net income attributable to owners of parent		Basic earnings per share
   	Millions of		Millions of yen 60 300	% (78.5) 14.3	Millions of		Millions of yen 49 234	% (80.2) 10.9
   	yen %				yen %				Yen
   Six months ending September 30, 2025	6,520	9.1			22	(91.7)			0.87
   Fiscal year ending March 31, 2026	14,900	10.7			210	(19.7)			4.15

   Note: Revisions to the consolidated earnings forecasts most recently announced: None

   * Notes

   1. Significant changes in the scope of consolidation during the period: None

   2. Application of special accounting for preparing quarterly consolidated financial statements: Yes

   3. Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements after error corrections

      1. Changes in accounting policies due to revisions to accounting standards and other regulations: None

      2. Changes in accounting policies due to other reasons: None

      3. Changes in accounting estimates: None

      4. Restatement of prior period financial statements after error corrections: None

   4. Number of shares issued (common shares)

      1. Total number of shares issued at the end of the period (including treasury shares)

         As of June 30, 2025	56,903,800 shares
         As of March 31, 2025	56,903,800 shares

      2. Number of treasury shares at the end of the period

         As of June 30, 2025	496,662 shares
         As of March 31, 2025	501,462 shares

      3. Average number of shares during the period (cumulative from the beginning of the fiscal year)

Note: Number of treasury shares as of June 30, 2025 includes 7,500 shares held under the names of others.

• ​ Review of the Japanese-language originals of the attached quarterly consolidated financial statements by certified public accountants or an audit corporation: None

• ​ Proper use of earnings forecasts, and other special matters

Forward-looking statements, including the consolidated forecasts stated in these materials, are based on information currently available to the Company and certain assumptions deemed reasonable. Consequently, any statements herein do not constitute assurances regarding actual results by the Company. Actual business and other results may differ materially due to various factors.

1. Consolidated balance sheet

   (Thousands of yen)

   As of March 31, 2025 As of June 30, 2025

   Assets

   Current assets
   Cash and deposits	5,042,128	4,930,341
   Notes and accounts receivable - trade	2,452,445	1,729,243
   Accounts receivable - other	797,070	817,818
   Other	421,462	630,811
   Allowance for doubtful accounts	(68,604)	(48,771)
   Total current assets	8,644,503	8,059,442
   Non-current assets
   Property, plant and equipment	491,757	514,535
   Intangible assets	983,150	1,234,202
   Investments and other assets	1,009,496	1,030,474
   Total non-current assets	2,484,404	2,779,211
   Total assets	11,128,907	10,838,654
   Liabilities
   Current liabilities
   Notes and accounts payable - trade	129,950	110,319
   Short-term borrowings	1,200,000	1,200,000
   Income taxes payable	5,275	1,781
   Provision for bonuses	443,317	165,172
   Provision for point card certificates	7,607	13,752
   Provision for business restructuring	47,190	42,069
   Accounts payable - other	1,450,679	1,196,211
   Deposits received	72,229	157,586
   Other	291,252	387,425
   Total current liabilities	3,647,504	3,274,319
   Non-current liabilities
   Long-term borrowings	2,200,000	2,200,000
   Asset retirement obligations	221,598	221,948
   Other	81,793	95,153
   Total non-current liabilities	2,503,392	2,517,101
   Total liabilities	6,150,897	5,791,421
   Net assets
   Shareholders' equity
   Share capital	100,000	100,000
   Capital surplus	5,529,704	5,502,562
   Retained earnings	230,160	281,491
   Treasury shares	(1,088,584)	(1,048,858)
   Total shareholders' equity	4,771,280	4,835,196
   Accumulated other comprehensive income
   Valuation difference on available-for-sale securities	89,352	114,616
   Foreign currency translation adjustment	66,031	59,508
   Total accumulated other comprehensive income	155,384	174,124
   Share acquisition rights	18,770	6,204
   Non-controlling interests	32,575	31,708
   Total net assets	4,978,010	5,047,232
   Total liabilities and net assets	11,128,907	10,838,654

2. Consolidated statement of income and consolidated statement of comprehensive income Consolidated statement of income (cumulative)

Three months ended June 30, 2024

(Thousands of yen)

Three months ended June 30, 2025

Three months ended June 30, 2024

(Thousands of yen) Three months ended

June 30, 2025