Freee K K : Notice Concerning Revision of Consolidated Guidance for Fiscal Year Ending June 30, 2021

Note: This document is an English translation of the original Japanese language document and has been prepared solely for reference purposes. No warranties or assurances are given regarding the accuracy or completeness of this English translation. In the event of any discrepancy between this English translation and the original Japanese language document, the original Japanese language document shall prevail in all respects.

	May 12, 2021
Company Name	freee K.K.
Representative	Daisuke Sasaki,
	CEO and Representative Director
Code No.	4478, Tokyo Stock Exchange
	Mothers
Contact	Sumito Togo, CFO and Director
	(TEL. [phone])

Notice Concerning Revision of Consolidated Guidance for Fiscal Year Ending June 30, 2021

We made a resolution at the Board of Directors held May 12, 2021, to revise its consolidated business guidance for the fscal year ending June 30, 2021 (from July 1, 2020 to June 30, 2021), which was disclosed on August 12, 2020.

1. Revision of the consolidated guidance for the fscal year ending June 30, 2021 (from July 1, 2020 to June 30, 2021)

	Net sales	Adjusted
	operating proft
Previous Guidance（A)	Millions of yen	Millions of yen
9,657	△2,212
Revised Guidance（B）	10,200	△2,212
Difference（B‐A）	542	0
％ Change	5.6%	0.0%
(For reference)	6,895	△2,587
Results for FY2020

2. Reasons for Revision

Since the beginning of the fscal year ending June 30, 2021, customer acquisition has been strong, especially in the Self-employed and Small segments.

Note: This document is an English translation of the original Japanese language document and has been prepared solely for reference purposes. No warranties or assurances are given regarding the accuracy or completeness of this English translation. In the event of any discrepancy between this English translation and the original Japanese language document, the original Japanese language document shall prevail in all respects.

Principally on account of this factor, we have revised up our consolidated net sales guidance for the fscal year to 10,200 million yen, an increase of 542 million yen from the previously announced guidance.

On the other hand, the adjusted operating proft(1) guidance remains unchanged to increase sales and marketing expenses than expected at the beginning of the fscal year due to strong customer acquisition and implementation of initiatives to raise brand awareness to acquire new customers in the future.

Note：

1. Adjusted operating profit (the sum of the operating profit, stock-based compensation expenses, expenses for amortization of acquisition-related intangible assets, and one-time cost).