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Earnings forecasts for the year ending Mar. 31, 2019 (FY2018)

(billions of yen, unless otherwise stated) FY2017
Full-year Results
FY2018
Full-year Forecast
Year-on-year
Change
Revenue 21,733 23,020 5.9%
EBITDA * 2,854 2,850 10.3%
EBITDA margin 11.9% 12.4% +0.5pt
Adjusted profit * 1,449 1,700 17.3%
Adjusted EPS (¥) * 86.74 101.76 17.3%

* EBITDA: operating income + depreciation and amortization ± other operating income/expenses
* Adjusted profit: profit attributable to owners of the parent ± adjustment items (**) (excluding non-controlling interests) ± tax reconciliation related to certain adjustment items
* Adjusted EPS: adjusted profit / (number of shares issued at the end of the period - number of treasury stock at the end of the period)
* Profit used as the basis for calculation of dividends: profit attributable to owners of the parent - non-recurring income/losses, etc.
** Amortization of intangible assets arising due to business combinations ± non-recurring income/losses

The Company has adopted International Financial Reporting Standards ("IFRS") from the beginning of the Fiscal Year 2017.

The Company forecasts consolidated revenue to grow year on year for the year ending March 31, 2019 ("FY2018"), mainly due to expected growth in the HR Technology segment.

The Company also forecasts EBITDA and adjusted EPS, set as its management key performance indicators, to grow year on year, expecting revenue growth in the HR Technology and Media & Solutions segments as well as EBITDA margin improvement in the Staffing segment.

The consolidated financial forecasts for FY2018 include the operating performance of Glassdoor, which we acquired on June 21, 2018, for nine months from the second quarter of FY2018, and related transaction costs.