Uzabase, Inc. announces its consolidated financial results for FY2017.

1. ―1―
Note:This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy between
the Japanese original and this English translation, the Japanese original shall prevail.
Consolidated Financial Results
for the Year Ended December 31, 2017
[Japanese GAAP]
February 13, 2018
Company name: Uzabase, Inc.
Stock exchange listing: Tokyo
Code number: 3966
URL: http://www.uzabase.com
Representative: Yusuke Inagaki / Yusuke Umeda Co-Chief Executive Officer
Contact: Mirai Murakami CFO / Head of Finance & Planning
Phone: 03-4574-6552
Scheduled date of Annual General Meeting of Shareholders: March 29, 2018
Scheduled date of commencing dividend payments: -
Scheduled date of filing annual securities report: March 29, 2018
Availability of supplementary briefing material on annual financial results: Yes
Schedule of annual financial results briefing session: Yes
(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Fiscal Year Ended December 31, 2017 (January 01, 2017 to December 31, 2017)
(1) Consolidated Operating Results (% indicates changes from the previous corresponding period.)
Net sales Operating income Ordinary income
Profit attributable to
owners of parent
Fiscal year ended Million yen % Million yen % Million yen % Million yen %
December 31, 2017 4,565 48.2 545 117.5 518 130.0 438 63.8
December 31, 2016 3,081 60.9 250 - 225 - 267 -
(Note) Comprehensive income: Fiscal year ended December 31, 2017: ¥ 446 million [ 64.5%]
Fiscal year ended December 31, 2016: ¥ 271 million [ 221.1%]
Basic earnings per
share
Diluted earnings per
share
Rate of return on
equity
Ordinary income to
total assets ratio
Operating income to
net sales ratio
Fiscal year ended Yen Yen % % %
December 31, 2017 15.13 13.84 20.7 12.9 12.0
December 31, 2016 10.03 9.15 17.6 8.5 8.1
(Reference) Equity in earnings (losses) of affiliated companies: Fiscal year ended December 31, 2017: ¥ (24) million
Fiscal year ended December 31, 2016: ¥ 5 million
EBITDA = Operating Profit + Depreciation + Amortisation
December 31, 2017 JPY565mln（110.4%） December 31, 2016 JPY282mln（―％）
(Note) The Company conducted a 3-for-1 stock split of common stocks as of July 1, 2016, couducted a 2-for-1 stock split of
common stocks as of July 1, 2017 and couducted a 2-for-1 stock split of common stocks as of January 1, 2018. The
"Earnings per share" and "Diluted earnings per share" are calculated assuming that the said stock split was conducted at
the beginning of the previous consolidated FY.
(2) Consolidated Financial Position
Total assets Net assets Capital adequacy ratio Net assets per share
As of Million yen Million yen % Yen
December 31, 2017 4,408 1,819 41.1 61.86
December 31, 2016 3,618 2,439 66.6 84.66
(Reference) Equity: As of December 31, 2017: ¥ 1,812 million
As of December 31, 2016: ¥ 2,409 million
(Note) The Company conducted a 3-for-1 stock split of common stocks as of July 1, 2016, couducted a 2-for-1 stock split
of common stocks as of July 1, 2017 and couducted a 2-for-1 stock split of common stocks as of January 1, 2018. The "
Net assets per share " is calculated assuming that the said stock split was conducted at the beginning of the previous
consolidated FY.
(3) Consolidated Cash Flows

2. ―2―
Cash flows from
operating activities
Cash flows from
investing activities
Cash flows from
financing activities
Cash and cash
equivalents at the end
of period
Fiscal year ended Million yen Million yen Million yen Million yen
December 31, 2017 817 (547) (152) 3,217
December 31, 2016 474 (40) 1,395 3,096
2. Dividends
Annual dividends
Total
dividends
Payout
ratio
(consolidated)
Dividends
to net
assets
(consolidated)
1st
quarter-end
2nd
quarter-end
3rd
quarter-end
Year-end Total
Fiscal year ended Yen Yen Yen Yen Yen Million yen % %
December 31, 2016 - 0.00 - 0.00 0.00 - - -
December 31, 2017 - 0.00 - 0.00 0.00 - - -
Fiscal year ending
December 31, 2018
(Forecast)
- 0.00 - 0.00 0.00 -
(Note) Breakdown of the year-end dividend for the fiscal year ended December 31, 2017 :
Commemorative dividend - yen
Special dividend - yen
3. Consolidated Financial Results Forecast for the Fiscal Year Ending December 31, 2018 (January 01, 2018 to December 31, 2018)
(% indicates changes from the previous corresponding period.)
Net sales Operating income Ordinary income
Profit attributable to
owners of parent
Basic earnings per
share
Million yen % Million yen % Million yen % Million yen % Yen
Full year 6,763 48.1 827 51.6 389 (24.9) 176 (59.8) 6.01
(Reference) EBITDA December 31, 2018 (Forecast) JPY902mln (51.6%)
* Notes:
(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes in
scope of consolidation): No
New - (Company name: )
Exclusion: - (Company name: )
(2) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: No
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No
4) Retrospective restatement: No
(3) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
December 31, 2017: 29,300,040 shares
December 31, 2016: 28,811,532 shares
2) Total number of treasury shares at the end of the period:
December 31, 2017: 72 shares
December 31, 2016: - shares
3) Average number of shares during the period:
Fiscal Year ended December 31, 2017: 28,947,396 shares
Fiscal Year ended December 31, 2016: 26,653,072 shares
(Note) The Company conducted a 3-for-1 stock split of common stocks as of July 1, 2016, couducted a 2-for-1 stock split
of common stocks as of July 1, 2017 and couducted a 2-for-1 stock split of common stocks as of January 1, 2018. The "
Total number of issued shares (common shares) " are calculated assuming that the said stock split was conducted at the
beginning of the previous consolidated FY.

3. ―3―
(Reference) Summary of Non-consolidated Financial Results
1. Non-consolidated Financial Results for the Fiscal Year Ended December 31, 2017 (January 01, 2017 to December 31, 2017)
(1) Non-consolidated Operating Results (% indicates changes from the previous corresponding period.)
Net sales Operating income Ordinary income Net income
Fiscal year ended Million yen % Million yen % Million yen % Million yen %
December 31, 2017 2,825 31.8 299 87.6 399 84.5 306 16.4
December 31, 2016 2,143 35.3 159 - 216 - 263 -
Basic earnings per share Diluted earnings per share
Fiscal year ended Yen Yen
December 31, 2017 10.58 9.68
December 31, 2016 9.88 9.01
(Note) The Company conducted a 3-for-1 stock split of common stocks as of July 1, 2016, couducted a 2-for-1 stock split
of common stocks as of July 1, 2017 and couducted a 2-for-1 stock split of common stocks as of January 1, 2018. The
"Earnings per share" and "Diluted earnings per share" are calculated assuming that the said stock split was conducted at
the beginning of the previous consolidated FY.
(2) Non-consolidated Financial Position
Total assets Net assets Capital adequacy ratio Net assets per share
As of Million yen Million yen % Yen
December 31, 2017 4,805 2,547 52.9 86.72
December 31, 2016 3,209 2,183 68.0 75.78
(Reference) Equity: As of December 31, 2017: ¥ 2,547 million
As of December 31, 2016: ¥ 2,183 million
(Note) The Company conducted a 3-for-1 stock split of common stocks as of July 1, 2016, couducted a 2-for-1 stock split
of common stocks as of July 1, 2017 and couducted a 2-for-1 stock split of common stocks as of January 1, 2018. The "
Net assets per share " is calculated assuming that the said stock split was conducted at the beginning of the previous
consolidated FY.

4. ―4―
Consolidated Financial Statements
Consolidated Balance Sheets
(Thousand yen)
As of December 31,2016 As of December 31,2017
Assets
Current assets
Cash and deposits 3,096,081 3,217,254
Notes and accounts receivable - trade 202,162 320,428
Prepaid expenses 66,340 95,262
Deferred tax assets 76,571 68,526
Other 4,791 34,856
Allowance for doubtful accounts (1,040) (3,735)
Total current assets 3,444,907 3,732,593
Non-current assets
Property, plant and equipment
Buildings 23,986 23,986
Accumulated depreciation (14,642) (20,638)
Buildings, net 9,343 3,348
Tools, furniture and fixtures 106,723 130,348
Accumulated depreciation (65,693) (85,617)
Tools, furniture and fixtures, net 41,030 44,731
Leased assets 4,885 4,885
Accumulated depreciation (1,139) (2,116)
Leased assets, net 3,745 2,768
Total property, plant and equipment 54,119 50,848
Intangible assets
Goodwill - 118,298
Software 5,810 8,985
Software in progress 1,400 -
Total intangible assets 7,210 127,283
Investments and other assets
Investment securities 1,505 1,505
Shares of subsidiaries and associates 11,538 157,502
Lease and guarantee deposits 75,077 318,650
Long-term prepaid expenses 15,850 1,831
Deferred tax assets - 9,667
Other 8,202 8,825
Total investments and other assets 112,174 497,982
Total non-current assets 173,504 676,114
Total assets 3,618,411 4,408,707

5. ―5―
(Thousand yen)
As of December 31,2016 As of December 31,2017
Liabilities
Current liabilities
Accounts payable - trade 88,904 183,964
Current portion of long-term loans payable 104,012 202,601
Accounts payable - other 129,504 195,196
Accrued expenses 163,820 215,704
Income taxes payable 45,293 84,415
Unearned revenue 310,461 501,378
Other 116,758 149,531
Total current liabilities 958,755 1,532,792
Non-current liabilities
Long-term loans payable 217,309 1,054,408
Deferred tax liabilities 43 81
Other 3,043 1,983
Total non-current liabilities 220,396 1,056,472
Total liabilities 1,179,152 2,589,265
Net assets
Shareholders' equity
Capital stock 1,303,190 1,328,889
Capital surplus 1,257,633 191,338
Retained earnings (151,152) 286,881
Treasury shares - (102)
Total shareholders' equity 2,409,671 1,807,006
Accumulated other comprehensive income
Foreign currency translation adjustment (159) 5,581
Total accumulated other comprehensive income (159) 5,581
Subscription rights to shares - 6,854
Non-controlling interests 29,747 -
Total net assets 2,439,259 1,819,442
Total liabilities and net assets 3,618,411 4,408,707

6. ―6―
Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income
(Thousand yen)
For the fiscal year
ended December 31,2016
For the fiscal year
ended December 31,2017
Net sales 3,081,602 4,565,897
Cost of sales 1,377,906 2,091,673
Gross profit 1,703,695 2,474,223
Selling, general and administrative expenses 1,452,702 1,928,239
Operating profit 250,992 545,983
Non-operating income
Land and house rent received 873 -
Share of profit of entities accounted for using equity
method
5,435 -
Compensation income 3,456 -
Penalty income - 6,564
Other 3,115 4,676
Total non-operating income 12,881 11,241
Non-operating expenses
Interest expenses 6,397 8,645
Share of loss of entities accounted for using equity
method
- 24,003
Share issuance cost 11,735 150
Listing related costs 10,802 -
Foreign exchange losses 9,545 5,075
Other - 895
Total non-operating expenses 38,480 38,769
Ordinary profit 225,393 518,455
Extraordinary income
Gain on sales of non-current assets 47 -
Gain on sales of shares of subsidiaries and associates - 683
Total extraordinary income 47 683
Profit before income taxes 225,440 519,139
Income taxes - current 32,761 79,513
Income taxes - deferred (76,571) (1,585)
Total income taxes (43,809) 77,928
Profit 269,250 441,211
Profit attributable to non-controlling interests 1,804 3,177
Profit attributable to owners of parent 267,445 438,034

7. ―7―
Consolidated Statements of Comprehensive Income
(Thousand yen)
For the fiscal year
ended December 31,2016
For the fiscal year
ended December 31,2017
Profit 269,250 441,211
Other comprehensive income
Foreign currency translation adjustment 2,383 2,501
Share of other comprehensive income of entities
accounted for using equity method
- 3,239
Total other comprehensive income 2,383 5,741
Comprehensive income 271,633 446,952
Comprehensive income attributable to
Comprehensive income attributable to owners of parent 269,829 443,775
Comprehensive income attributable to non-controlling
interests
1,804 3,177

8. ―8―
Consolidated Statements of Changes in Net Assets
For the fiscal year ended December 31,2016
(Thousand yen)
Shareholders' equity
Accumulated other
comprehensive income
Non-
controlling
interests
Total net
assets
Capital stock
Capital
surplus
Retained
earnings
Total
shareholders'
equity
Foreign
currency
translation
adjustment
Total
accumulated
other
comprehensi
ve income
Balance at beginning
of current period
547,566 502,009 (418,598) 630,977 (2,543) (2,543) 27,943 656,377
Changes of items
during period
Issuance of new
shares
755,624 755,624 1,511,248 1,511,248
Profit attributable to
owners of parent
267,445 267,445 267,445
Net changes of
items other than
shareholders' equity
2,383 2,383 1,804 4,187
Total changes of
items during period
755,624 755,624 267,445 1,778,693 2,383 2,383 1,804 1,782,881
Balance at end of
current period
1,303,190 1,257,633 (151,152) 2,409,671 (159) (159) 29,747 2,439,259
For the fiscal year ended December 31,2017
(Thousand yen)
Shareholders' equity
Accumulated other
comprehensive income
Subscriptio
n rights to
shares
Non-
controlling
interests
Total net
assetsCapital
stock
Capital
surplus
Retained
earnings
Treasury
shares
Total
shareholder
s' equity
Foreign
currency
translation
adjustment
Total
accumulate
d other
comprehens
ive income
Balance at beginning of
current period
1,257,633 (151,152) - 2,409,671 (159) (159) - 29,747 2,439,259
Changes of items during
period
Issuance of new shares 25,698 25,698 51,397 51,397
Profit attributable to
owners of parent
438,034 438,034 438,034
Purchase of treasury
shares
(102) (102) (102)
Purchase of shares of
consolidated
subsidiaries
(1,091,993) (1,091,993) (1,091,993)
Net changes of items
other than
shareholders' equity
5,741 5,741 6,854 (29,747) (17,152)
Total changes of items
during period
25,698 (1,066,295) 438,034 (102) (602,664) 5,741 5,741 6,854 (29,747) (619,816)
Balance at end of current
period
1,328,889 191,338 286,881 (102) 1,807,006 5,581 5,581 6,854 - 1,819,442

9. ―9―
Consolidated Statements of Cash Flows
(Thousand yen)
For the fiscal year
ended December 31,2016
For the fiscal year
ended December 31,2017
Cash flows from operating activities
Profit before income taxes 225,440 519,139
Depreciation 33,390 36,143
Amortization of goodwill - 13,144
Share of (profit) loss of entities accounted for using
equity method
(5,435) 24,003
Decrease (increase) in notes and accounts receivable -
trade
(51,091) (116,119)
Increase (decrease) in notes and accounts payable -
trade
14,720 95,059
Increase (decrease) in accounts payable - other 62,016 54,369
Increase (decrease) in accrued expenses 1,369 51,347
Increase (decrease) in accrued consumption taxes 36,013 19,158
Increase (decrease) in unearned revenue 104,885 179,257
Other, net 61,886 (588)
Subtotal 483,195 874,914
Interest and dividend income received 135 83
Interest expenses paid (6,365) (10,072)
Income taxes paid (2,507) (47,217)
Net cash provided by (used in) operating activities 474,458 817,707
Cash flows from investing activities
Purchase of property, plant and equipment (32,273) (38,103)
Purchase of shares of subsidiaries and associates - (182,600)
Payments for guarantee deposits (6,509) (250,462)
Proceeds from collection of guarantee deposits 5,498 2,022
Purchase of shares of subsidiaries resulting in change
in scope of consolidation
- (89,711)
Other, net (7,489) 11,168
Net cash provided by (used in) investing activities (40,773) (547,685)
Cash flows from financing activities
Proceeds from long-term loans payable - 1,124,000
Repayments of long-term loans payable (102,567) (208,312)
Proceeds from issuance of common shares 1,499,512 51,397
Payments from changes in ownership interests in
subsidiaries that do not result in change in scope of
consolidation
- (1,124,918)
Other, net (1,031) 5,706
Net cash provided by (used in) financing activities 1,395,914 (152,126)
Effect of exchange rate change on cash and cash
equivalents
(2,654) 3,277
Net increase (decrease) in cash and cash equivalents 1,826,944 121,172
Cash and cash equivalents at beginning of period 1,269,136 3,096,081
Cash and cash equivalents at end of period 3,096,081 3,217,254