due to the increase in cost of sales and services of many large-scale projects. Furthermore, In Q2–2019, there was an additional reserve for employee benefits from the amendments to the law relating to
157.0 MB and 221.6 MB, respectively. This is because the Company had delivered many large-scale projects which had just been auctioned in Q1–2019. In fact, those large-scale projects had delayed their
slightly decreased compared to Q1–2019 by34.8 MB or 2.7%. This is because in Q4–2019, the Company had delivered many large-scale projects which are continually operated from Q2–2019 and Q3–2019. In terms of
establishment of the Company. In fact, the majority of the company’s revenue was revenue from sale and service. In 2019, the Company had received many large-scale projects from government agencies and state
prevention making it possible to complete the project even more. In addition, the several large-scale projects were due for delivery in this quarter such as the Purchasing and Installation of Cloud Project of
%, mainly due to the investment in several large-scale projects during the first half year 2020. Those large-scale projects were under operation, thus the cash and cash equivalents decreased. Inventories
significantly. In addition, resulting the need to postpone a large-scale project auction and there are a few SI project in the market, thus those had a higher competition, resulting gross margin was declined
2016, since in 2017, the Company received large-scale projects that delayed from previous auctions such as internet for village project or internet for public domain, which is a high value project but