0. Contents 1. Quarterly Results (January - March 2020) 2. Forecast 3. Internet Advertisement Business 4. Game Business 5. Media Business 6. FY2020 1 1. Quarterly Results Quarterly Results January - March 2020 2 1. Quarterly Results Q2 was strong. The impact of COVID-19 will appear from FY2020 Q3 onward. Sales: 129.1 billion yen UP 10.1% YoY Q2 OP: 12.4 billion yen UP 45.3% YoY WAU* of “ABEMA” has increased drastically, reflecting high demand from stay-at-home users. Media Sales: 13.8 billion yen UP 18.8% YoY OP: -4.2 billion yen Solid growth by meeting advertisers’ demand. The impact of COVID-19 will appear from Q3 onward. Ad Sales: 72.7 billion yen UP 9.2% YoY OP: 6.7 billion yen UP 23.7% YoY Three anniversary titles and new titles went well. Game Sales: 44.8 billion yen UP 12.4% YoY OP: 10.4 billion yen UP 39.8% YoY *WAU: Weekly Active User 3 1. Quarterly Results [Consolidated Sales] Hit record high sales of 129.1 billion yen, up 10.1% year over year. 129.1 117.3 115.6 113.6 109.5 110.8 111.7 107.5 104.4 101.8 97.9 93.3 (Billion Yen) 89.5 85.6 86.5 76.4 74.0 74.6 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY2016 FY2017 FY2018 FY2019 FY2020 4 1. Quarterly Results [Consolidated OP] 12.4 billion yen, up 45.3% year over year Driven by the increase in advertising and game business profit. (Billion Yen) 12.9 12.4 11.4 11.2 9.8 9.4 8.6 8.3 8.2 7.9 7.7 7.4 6.8 6.5 6.3 5.3 4.2 3.6 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY2016 FY2017 FY2018 FY2019 FY2020 5 1. Quarterly Results [SG&A Expenses] Up 7.7% year over year to 26.9 billion yen, due to increased promotion cost. Earnings* Incentives 28.9 Other * 27.3 26.3 26.9 Sales related costs 25.6 25.0 24.9 25.0 Office costs 24.6 24.5 7.5 Personnel 3.1 23.0 23.1 23.4 22.6 7.3 7.0 Advertisement cost 21.6 5.8 7.7 6.4 6.8 7.0 6.8 1.2 4.4 4.9 5.0 6.3 18.7 7.0 (Billion Yen) 1.2 2.1 5.3 1.2 1.7 2.0 1.3 1.2 1.2 1.3 1.2 1.3 1.3 15.6 16.0 3.9 1.3 1.7 2.1 1.4 1.5 1.1 2.2 1.5 1.1 1.8 2.0 2.1 1.2 2.2 1.8 3.5 3.5 1.3 1.6 8.0 2.1 1.3 5.3 6.1 7.9 8.5 1.4 1.2 6.8 7.1 8.4 1.2 7.7 7.6 1.2 6.6 6.8 8.5 8.6 5.5 7.6 5.0 5.5 9.9 9.1 9.9 7.9 8.1 8.1 7.8 7.0 7.1 6.8 7.3 6.5 6.7 6.1 5.8 4.4 4.4 5.3 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY2016 FY2017 FY2018 FY2019 FY2020 *Other: Outsourcing expenses, R&D expenses. 6 1. Quarterly Results [No. of Employees] Total headcount was 5,162. (295 new graduates joined in April) 5,433 11 5,282 (headcount) 5,215 11 5,162 Investment Development 5,109 5,111 369 11 4,988 12 12 4,902 14 370 Headquarters 15 366 362 15 372 362 Other 350 601 4,543 4,537 4,576 352 Game 4,523 608 17 15 596 18 15 490 487 578 Internet Ad 336 344 330 503 4,153 335 501 Media 4,054 3,971 18 3,894 19 425 19 310 357 406 406 22 296 3,623 3,623 297 290 301 1,670 22 21 285 1,644 1,643 267 303 297 259 1,522 1,554 1,612 1,453 1,459 263 266 1,330 1,346 1,347 1,349 1,267 1,272 1,215 1,253 1,149 1,139 1,964 1,900 1,881 1,894 1,883 1,822 1,819 1,786 1,802 1,778 1,758 1,754 1,560 1,633 1,530 1,539 1,392 1,401 753 767 830 802 844 798 780 754 622 624 681 660 667 703 494 499 578 596 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY2016 FY2017 FY2018 FY2019 FY2020 7 *FY2020 Segment reclassification is reflected from FY2019. 1. Quarterly Results [PL] FY2020 2Q FY2019 2Q FY2020 1Q million yen YoY QoQ Jan.-Mar. 2020 Jan.-Mar. 2019 Oct.-Dec. 2019 Net Sales 129,172 117,329 10.1% 115,681 11.7% Gross profit 39,422 33,604 17.3% 34,064 15.7% SG&A expenses 26,924 25,001 7.7% 26,331 2.3% Operating profit 12,498 8,602 45.3% 7,733 61.6% OPM 9.7% 7.3% 2.4pt 6.7% 3.0pt Ordinary profit 12,509 8,564 46.1% 7,724 62.0% Extraordinary income 78 1 5693.1% 1 4214.8% Extraordinary loss 1,532 3,902 -60.7% 951 61.1% Income before income taxes 11,055 4,662 137.1% 6,774 63.2% and non-controlling interests Net profit* 3,304 170 1837.4% 1,456 126.9% *Net profit: Profit attributable to shareholders of parent. Affected by the fact that AbemaTV, Inc. is exempted from consolidated tax payment, and non-controlling equity interest (minority interest) of Cygames, Inc. 8 1. Quarterly Results [BS] We maintain a strong financial position. End of End of End of million yen YoY QoQ Mar. 2020 Mar. 2019 Dec. 2019 Current assets 183,524 169,021 8.6% 168,150 9.1% Cash deposits 84,960 80,248 5.9% 82,508 3.0% Fixed assets 57,542 55,719 3.3% 57,993 -0.8% Total assets 241,118 224,788 7.3% 226,195 6.6% Current liabilities 82,795 73,951 12.0% 70,591 17.3% (Income tax payable) 8,660 5,847 48.1% 2,555 238.8% Fixed liabilities 43,841 43,318 1.2% 44,113 -0.6% Shareholders' equity 76,671 73,390 4.5% 72,958 5.1% Net Assets 114,482 107,518 6.5% 111,489 2.7% 9 2. Forecast FY2020 Forecast October 2019 - September 2020 10 2. Forecast 465.0 453.6 Sales 465 billion yen(UP 2.5% YoY) 419.5 OP 28~32 billion yen 371.3 310.6 36.7 32.7 32.0 254.3 30.7 30.1 30.8 205.2 28.0 22.2 162.4 141.1 (billion yen) 17.4 119.5 Sales 14.3 Continue up-front 93.8 96.6 OP 87.0 10.3 investment in 76.0 9.3 60.1 Investment in ABEMA 43.2 5.5 Smartphone 4.3 4.6 4.4 26.7 2.6 business 10.8 16.2 1.7 3.2 6.3 Investment in blog service -0.1 -0.2 -0.1 -1.6 FY2000 FY2001 FY2002 FY2003 FY2004 FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020E 11 2. Forecast [Progress to Full-year Forecast] The first half year had a strong performance. Sales 244.8B 53% 465B Operating profit 20.2B 63%~72% 28B ~ 32B Ordinary profit 20.2B 63%~72% 28B ~ 32B * Net profit 4.7B 48%~60% 8B ~ 10B 0% 50% 100% *Net profit: Profit attributable to shareholders of parent. Affected by the fact that AbemaTV, Inc. is exempted from consolidated tax payment, and non-controlling equity interest (minority interest) of Cygames, Inc. 12 3. Internet Advertisement Business Internet Advertisement 13 3. Internet Advertisement Business [Quarterly Sales] Q2 72.7 billion yen (up 9.2% YoY) Sales growth was driven by high demands for advertising until halfway through the Q2. 72.7 66.6 67.3 64.3 63.3 61.4 61.3 62.2 60.2 57.6 55.6 52.5 (Billion yen) 51.0 47.8 48.6 43.6 43.0 40.5 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY2016 FY2017 FY2018 FY2019 FY2020 *FY2020 Segment reclassification: Some EC businesses that were included in Internet Advertisement Business has transferred to Media business and reflected from FY2016. 14 Internet Advertisement Business includes the businesses of advertising agency, ad creative and AI. 3. Internet Advertisement Business [Quarterly OP] Reached record high OP of 6.72 billion yen, OPM 9.2% 6.72 6.37 (Billion yen) OP 5.66 5.52 5.43 OP Margin 5.13 5.04 4.91 4.69 4.58 4.42 4.44 4.27 4.24 4.23 3.96 3.70 3.58 10.1% 8.6% 9.8% 9.6% 10.4% 8.8% 8.9% 9.4% 9.2% 7.8% 8.0% 7.8% 8.2% 7.8% 7.8% 8.4% 6.9% 6.8% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY2016 FY2017 FY2018 FY2019 FY2020 *FY2020 Segment reclassification: Some EC businesses that were included in Internet Advertisement Business has transferred to Media business and reflected from FY2016.
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