Pitchbook for Buyside

Preliminary Discussion Materials

March, 2014

Avant Group Overview

2

Company Overview

KEY INFORMATION Founded in 1997 Headquartered in Tokyo, Japan CEO: Mr. Tetsuji Morikawa

Tetsuji Morikawa, 36%

OWNERSHIP

Diva Corporation, 14% Tsuyoshi Noshiro, 7% OBIC Business Consultant, 4% PCA Corporation, 4% Other, 35%

www.avantcorp.com (JASDAQ:3836)

BUSINESS OVERVIEW  Avant offers financial intelligence systems for various businesses in Japan  The company develops software packages, sells its licenses, and provides IFRS-ready financial consolidation, group accounting integration, financial documentation and BI solutions  It also offers consultancy services for consolidation accounting, system implementation, custom solution, and SOX compliance; and education, user support and outsourcing services  Avant is comprised of 3 key business segments:  License Sales: develops and sells software for consolidated operation, such as consolidated accounting software, planning systems, budget planning systems and management information application systems  Consulting Services: consulting services for the installation and expansion of solutions, as well as customized solutions  Support Services / Information Search: system application support, related training services, outsourcing services and others

FINANCIALS US$m

Share Price at 02/28/2014 Shares Outstanding US $11.91 4.7m Market Cap Net Debt (Cash) Pref. Equity & Minority Total Enterprise Value June LTM Total Revenue % Growth Gross Profit % Gross Profit Margin EBITDA EBITDA Margin EBIT EBIT Margin Net Income Net Income Margin 35 2010 2011 38.9 2012 51.3 55.9 -12.4 0 43.6 2013 67.8

16.6

11%

18.8

32%

24.2

32%

26.9

47%

1.7

48%

3.3

47%

7

40%

8.5

5%

0.6

8%

1.7

14%

5.1

13%

6.5

2%

-

4%

0.3

10%

2.4

10%

3.7

3

-

1%

5%

5%

Company Organization

Revenue US$77.7m FY 2013

54%*

33%*

10%*

4%*

CPM and BI Solutions IFRS...