FY2017 Presentation Material
for New Investors
English
August 21, 2017
What is CyberAgent ?
Game
Internet Advertisement
Business Forecast for FY2017
Management Policy
Latest Financial Results2....
1998 ㈱サイバーエージェント設立
2000 東証マザーズに上場
・
・
2013
2014 東証一部に上場
2015
2017
Present
[History]
2
Picked as a FTSE
All-World index**
I...
3.2 6.3 10.8
16.2
26.7
43.2
60.1
76.0
87.0
93.8 96.6
119.5
141.1
162.4
205.2
254.3
310.6
FY2000 FY2001 FY2002 FY2003 FY200...
3.2 6.3 10.8
16.2
26.7
43.2
60.1
76.0
87.0
93.8 96.6
119.5
141.1
162.4
205.2
254.3
310.6
360.0
-1.6 -0.1 -0.2 -0.1
1.7
2.6...
[Competitiveness] Proactive investment to human resources
5
*CyberAgent ranked in the 9th place at the “Best Workplaces Ja...
*As of 2000
** An economic organization that aims “to contribute to the sound operation of national administration and the...
1.What is CyberAgent?
[CA8] The board of directors is composed of 8 executives,
2 members are replaced every 2 years, acco...
8
Outside director
Koichi Nakamura
Joined Japan Recruit Center Co., Ltd. in Apr. 1981,
and served as a sales staff member ...
1.4
2.2 2.2
2.1
2.4
3.1 3.1 3.1
1.2
26.0%
31.0%
26.6%
21.0%
39.4%
21.2%
23.1%
31.4%
0%
30%
60%
0.0
1.0
2.0
3.0
FY2010 FY20...
0
1000
2000
3000
4000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Share pric...
[Our Business]
11
Media
Internet
Advertising
Game
“AbemaTV”,
“Ameba blog” etc.
Advertising agency
business specialize in
I...
12
2.Latest Financial Results
Latest Financial
Results
Apr. – Jun. FY2017
Game
3Q Results
Media
Ad
Sales: 89.5 billion yen up 17.3% YonY
OP: 6.5 billion yen (existing business* 11.8B yen, AbemaTV ...
40.8 41.3
38.0
42.2
43.7
52.4
51.2
57.7
63.4
60.5 61.1
69.2
74.0 74.6
76.4
85.6 86.5
93.3
89.5
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q ...
-0.44 -0.91 -0.71 -0.20 -0.14 -0.68
-3.4
-5.7
-5.0
-5.8
-5.2
1.5
3.6
1.6
3.5
4.2
6.5
4.0
9.3
12.9
9.1
6.9
9.4
13.1
11.9 11...
4.3
2.4 2.9
1.7 2.2 2.8
3.5
1.9
2.6 3.1 3.6 4.0 4.4 4.4
6.5
9.9
9.1
7.9
6.7
3.7
3.6
3.8
3.8
3.9
4.3
4.6
4.6
4.6
5.0
5.3 5....
82 107 148 160 182 192 213
954 948
1,081 1,039 1,001 977 1,018
638
372 356 414 400
412 392
430 436 440 432 468
473 437
490...
Unit: million yen
FY2017 3Q
Apr-Jun 2017
FY2016 3Q
Apr-Jun 2016
YonY
FY2017 2Q
Jan-Mar 2017
QonQ
 Net Sales 89,593 76,408 ...
[BS]
Unit: million yen
End of
Jun 2017
End of
Jun 2016
YonY
End of
Mar 2017
QonQ
 Current assets 101,917 96,441 5.7% 110,0...
20
Internet
Advertisement
3. Internet Advertisement Business
6.8
8.3
9.1
11.5
15.1
FY2012 FY2013 FY2014 FY2015 FY2016
21
Sales growth exceeds
the market growth
Up 22.8% YonY
[Yearly S...
2012 2013 2014 2015 2016
*Growth transition: Growth rate based on setting 2012 as “100”
**Internet Ad Market: “Advertising...
7.0 8.1 8.3
10.5 11.5
15.1
16.4
18.9
20.7 21.7 22.7
25.3
26.9
29.3 29.5
35.9
37.8
39.9
40.7
12.5
12.5 11.6
12.3
12.9
14.8 ...
7.0
8.1 8.3
10.5
11.5
15.1
16.4
18.9
20.7
21.7
22.7
25.3
26.9
29.3 29.5
35.9
37.8
39.9
40.7
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q ...
0.18 0.26 0.36
0.61
0.97 1.0
1.3
1.9
2.6
3.1
3.4
5.8
6.1
7.7 7.7
10.8 10.7
11.9
11.6
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1...
0.10
0.26 0.19 0.19 0.25
0.48 0.50
0.37 0.46
0.81 0.83
1.5
1.9
2.3
2.8
5.2 5.2
6.7
7.5
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q...
Provide comprehensive Video Ad related services
Advertising Agency
Video Ad Production
Video Ad Product, Solution
Producti...
2.10 2.17
1.75
2.47
2.07
3.02
2.30
2.18
2.88
3.80
2.88
2.79
3.58
4.37
3.74
4.29
4.72
5.31
4.13
10.7% 10.5%
8.8%
10.8%
8.5%...
29
3. Internet Advertisement Business
[Competitive Advantage]
①
②
③
Strength in growing smartphone
advertising
Operation c...
Game
30
4. Game Business
29.2
47.9
50.7
87.0
122.6
FY2012 FY2013 FY2014 FY2015 FY2016
4.2
8.2 8.4
17.8
30.4
FY2012 FY2013 FY2014 FY2015 FY2016
31
S...
12.7 12.7
11.3 11.1 11.4
12.9 12.6
13.7
19.7
20.4 20.8
26.0
29.7
27.6
30.6
34.5 34.6
35.8
33.4
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q ...
0.91
2.11
2.80 2.69
2.05
2.30
1.47
2.99
4.77
4.60
3.66
6.07
8.83
6.93
8.31
7.51
6.45
7.91
6.89
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q ...
3月9月3月9月3月9月3月9月
4. Game Business
[Sales ranking] 7 major titles
Shadowverse
BanG Dream!
Girls Band
Party! ***
1st
10th
10...
[New titles]
PRINCESS CONNECT!Re:Dive
Multi-character development x Battle command
3 titles will be released in 4Q, 13 tit...
36
4. Game Business
①
②
③
Operation capability which
develops long life game title
High hit rate of Cygames, Inc.
Sharing ...
Media
37
5. Media Business
0.76
0.68
0.60 0.59
0.82
0.71
0.30
0.49 0.47
0.66
0.51
-0.44
-0.91
-0.71
-0.20
-0.14
-0.68
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3...
3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
FY2014 FY2015 FY2016 FY2017
The 2nd
largest after
Pairs
2.32M
users
Ranked in Top G...
Mar. Sep. Mar. Sep. Mar.
Monthly PV Transition of Ameba Appli
2.8B
PV
Unit:PV
5. Media Business
NO.1 blog service
in Japan...
April 11, 2016 Official launch
What is AbemaTV?
41
5. Media Business
60%
70%
80%
90%
100%
1995年 2000年 2005年 2010年 2015年
20s
30s
Teens
40s
50s
60s
[Transition of TV viewing time (TV ratings as...
1234
1234
AbemaTV 4 features
AbemaTV 4 Strengths
FREE
24H
Operation
About 25
channels
Target
Young
Generation
Device
by de...
etc.
News
Variety
Shows
Anime
Drama
Sports
Hobbies
News
SPECIAL
Variety
shows
Mid-night
Anime
Family
Anime
24/7 Anime New ...
Apr. Jun. Sep. Dec. Mar. Jun.
20M
DL
April 11
Release
5. Media Business
Exceeded 20 million downloads in 16 months after i...
April-June Popular Program Ranking Original Program: A record high of 14.2 million views
5.5 million views in total during...
0.63M
views
7.93M
views
*©AbemaTV
5. Media Business
Japanese Chess Ch: Games of Sota Fujii, fourth-dan that came out of or...
8.23
9.43
9.16
2.48
3.50
3.64
5.04
5.45
5.93 5.85 5.83
6.86
8.4
7.24
7.53
Apr. May. Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan...
[Plan1 after 4Q]
• Strengthen regular programs that lead to users’
watching habit
• Create edgy original programs
• Create...
・Data saving mode will be provided
・Strengthen the function of AbemaVideo
Additional
Function
*©AbemaTV
5. Media Business
...
2 revenue models
51
1. Same revenue model as TV
2
Program ProgramCM
1SPOT Original
SPOT*
45Infomercial
3 Sponsor
Program
C...
52
*©AbemaTV
In addition to linear broadcast of AbemaTV,
Time shifting function AbemaVideo added
2. AbemaVideo released in...
53
Recommendation
Free Programs
(1/5 of all programs)
Repeat broadcasting of original programs
Pay Programs
(4/5 of all pr...
Apr. May. Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May. Jun.
Video service MAU Comparison*
2016 2017
[AbemaT...
Amazon
PrimeVideo
Hulu dTV
DAZN
Netflix
Pay
Real time
On demand
Video Service Comparison*
Video
Pass
Abema
Video
niconico
...
56
[Competitive Advantage]
TV-quality programs1
Technical capability to create service
with high usability2
Financial stab...
Aims to be a mass media
[Future Plans of AbemaTV]
1
2
3
10M
WAU
5. Media Business
Continues up-front investment in FY2018
...
6. Business Forecast for FY2017
Business Forecast
for FY2017
Oct 2016 – Sep 2017
58
3.2 6.3 10.8
16.2
26.7
43.2
60.1
76.0
87.0
93.8 96.6
119.5
141.1
162.4
205.2
254.3
310.6
360.0
-1.6 -0.1 -0.2 -0.1
1.7
2.6...
0% 50% 100%
当期純利益
経常利益
営業利益
売上高
進捗率 業績予想
360.0B
28.0B
10.0B
26.7B
[Progress rates toward earnings forecast]
Sales
Operatin...
Game
Internet Ad
Media ¥2.3B
¥31.6B
¥15.3B
Up-front
Investment
ー¥10.0B
FY2016
¥36.7B
Game
Internet Ad
Media ¥2.0B
¥28.0B
¥...
0% 50% 100%
先行投資
メディア事業
(既存)
ゲーム事業
広告事業
進捗率 業績予想
Forecast for FY2017 28.0B
-20.0B
18.0B
28.0B
2.0B
[Progress rates toward ...
Management
Policy
7. Management Policy
63
Aim to increase growth rate
in excess of market growth
Create multiple hit titles
and expand our market share
Establish Ab...
[Operating Profit (Image)]
To accumulate profit through the AD Business and
Game Business, invest in the Media Business, a...
41.7
45.5
54.5
66.7
77.1
0.0
20.0
40.0
60.0
80.0
100.0
26.6%
21.0%
39.4%
21.2%
23.1%
0%
10%
20%
30%
40%
8.5
10.5
9.5
14.7
...
Aim to be a company that is supported
in the medium to long term
67
References
8. References
68
8. References: Market Data
Market Data
69
2,041.1 2,016.1 1,998.1
1,909.2
1,713.9 1,732.1 1,723.7
1,775.7 1,791.3
1,834.7 1,808.8 1,837.4
377.7
482.6
600.3
698.3 70...
21%
80.0
207.3
345.0
497.9
647.6
801.0
2012 2013 2014 2015 2016 2017E
YonY
Up30.1%
YonY
Up23.7%
[Our share][Smartphone Ad ...
38.0
76.8
140.1
187.5
221.2
247.6
268.4
285.4
301.3
2014 2015 2016 2017E 2018E 2019E 2020E 2021E 2022E
27%YonY
Up33.8%
Yon...
19%
YonY
Up57.4%
YonY
Up39.9%
YonY
Up29.9%
YonY
Up25.9%
[Our share][Video Ad Market]
Video Ad
Market
2016
*Video Ad Market...
48.0
261.0
560.0
895.0
925.0
945.0 960.0
0.8%
8.4% 8.0%
6.2%
10.2%
13.1%
0.0%0
2011 2012 2013 2014 2015 2016E 2017E
Smartp...
YonY
Up19.0%
YonY
Up13.8%
YonY
Up10.2%
[The number of paid video streaming service users*]
*The number of paid video strea...
YonY
Up30.0%
YonY
Up33.3%
YonY
Up31.3%
YonY
Up34.4%
[Online Dating, Matchmaking Service Market*]
*Online Dating, Matchmaki...
77
8. References: CSR
CSR
78
What is Makuake?
Makuake is a crowd funding service that the owner of the project
gives back goods or services accordin...
79
Hold programming courses for elementary students
In the eight schools nationwide including Shibuya, Osaka and Fukuoka, ...
80
Institutional
Investor
CyberAgent has been awarded by the U.S. financial magazine
"Institutional Investor“ in the inter...
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For New Investors

  1. 1. FY2017 Presentation Material for New Investors English August 21, 2017
  2. 2. What is CyberAgent ? Game Internet Advertisement Business Forecast for FY2017 Management Policy Latest Financial Results2. 3. 4. 5. Media 1 6. 7. References ・Market Data ・CSR 1. 8. 0.Table of Contents
  3. 3. 1998 ㈱サイバーエージェント設立 2000 東証マザーズに上場 ・ ・ 2013 2014 東証一部に上場 2015 2017 Present [History] 2 Picked as a FTSE All-World index** Included in JPX- Nikkei Index 400* since 2013 Founding of CyberAgent, Inc. Listed on the TSE Mothers market Listed on the 1st Section of the TSE *JPX Nikkei-Index 400 means the 400 kinds of attractive shares selected by Tokyo Stock Exchange of Japan Exchange Group, Inc. and Nikkei Inc. based on return on equity (ROE), total operating profit for the past 3 years, and market value. ** The FTSE All-World index is the global benchmark index provided by FTSE, a subsidiary of London Stock Exchange, for investors around the world. ****MSCI Japan ESG Select Leaders Index: the index comprises companies that have high Environmental, Social and Governance (ESG) performance in the top 500 Japanese companies by market capitalization. *****MSCI Japan Empowering Women Index: the index comprises companies that have higher rates of female managers and employees among their workforce in the top 500 Japanese companies by market capitalization. 1. What is CyberAgent? MSCI Japan ESG Select Leaders Index*** MSCI Japan Empowering Women Index**** Included in ESG indexes that GPIF selected
  4. 4. 3.2 6.3 10.8 16.2 26.7 43.2 60.1 76.0 87.0 93.8 96.6 119.5 141.1 162.4 205.2 254.3 310.6 FY2000 FY2001 FY2002 FY2003 FY2004 FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 Unit: Billion yen 3 1. What is CyberAgent? [Full-year Consolidated Sales] Unit: billion yen Continuous revenue growth since founding
  5. 5. 3.2 6.3 10.8 16.2 26.7 43.2 60.1 76.0 87.0 93.8 96.6 119.5 141.1 162.4 205.2 254.3 310.6 360.0 -1.6 -0.1 -0.2 -0.1 1.7 2.6 4.3 5.5 4.6 4.4 9.3 14.3 17.4 10.3 22.2 32.7 36.7 28.0 -2.0 18.0 38.0 58.0 -12.3 87.7 187.7 287.7 FY2000 FY2001 FY2002 FY2003 FY2004 FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017E Sales OP Unit: billion yen Invest in Smartphone business Invest in AbemaTV Strengthen up-front investment in AbemaTV 0 Invest in Blog service 4 1. What is CyberAgent? Expand the business by repeating the phase of up-front investment and harvest [Full-year Consolidated OP]
  6. 6. [Competitiveness] Proactive investment to human resources 5 *CyberAgent ranked in the 9th place at the “Best Workplaces Japan 2016” by Great Place To Work®Institute Japan. * 1. What is CyberAgent?
  7. 7. *As of 2000 ** An economic organization that aims “to contribute to the sound operation of national administration and the healthy growth of local communities through the development of various new industries, including e-business and IT business,” and also “contribute to the safety of people’s lives by securing, promoting, and energizing fair and free economic activities in the new industries” [Profile of the president] President (founder) Susumu Fujita (owning 20.5% of shares) 1998 Founded CyberAgent, Inc. 2000 made the company listed in Mothers of TSE at the youngest age in history* 2014 changed the listing of our shares to the first section of TSE in September 2016 Serving as vice representative director of Japan Association of New Economy** 2017 Selected as the “BEST CEO” 2nd place announced by the U.S. financial magazine “Institutional Investor.” Also serving as a general producer of “AbemaTV,” the Internet TV station, to which we put the utmost energy. 1.What is CyberAgent? 6
  8. 8. 1.What is CyberAgent? [CA8] The board of directors is composed of 8 executives, 2 members are replaced every 2 years, according to business strategies. Susumu Fujita President Yusuke Hidaka Vice President Responsible for the Game Business Yasuo Okamoto Executive Managing Director Responsible for the Internet Ad Business Go Nakayama Managing Director Responsible for Head Office Function, Investment Development Business Masahide Koike Managing Director Responsible for Media Business Takahiro Yamauchi Director Responsible for the Internet Ad Business Koki Ukita Director Responsible for the Game Business Tetsuhito Soyama Director Responsible for Human Resources 7
  9. 9. 8 Outside director Koichi Nakamura Joined Japan Recruit Center Co., Ltd. in Apr. 1981, and served as a sales staff member of HR Dept. As his performance was highly evaluated, he was appointed as a director of the company in 1999, appointed as Senior Executive Vice President in 2008, became director again in April 2012 and left the position in March 2012. Independent Director Independent Director Independent Director Toko Shiotsuki Standing Corporate Auditor Masao Horiuchi Corporate Auditor Isao Numata Corporate Auditor Dec. 2010 Appointed as managing director of U-NEXT Co., Ltd. (current post) Dec. 2009 Appointed as Representative Director of Security Business Laboratory Co., Ltd. (current post) [Outside director] 3 independent directors includes Mr. Nakamura since Dec. 2016 1.What is CyberAgent?
  10. 10. 1.4 2.2 2.2 2.1 2.4 3.1 3.1 3.1 1.2 26.0% 31.0% 26.6% 21.0% 39.4% 21.2% 23.1% 31.4% 0% 30% 60% 0.0 1.0 2.0 3.0 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017E Commemorative dividend dividend dividend ratio Mid/long-term rise for capital gain Income gain according to business results CyberAgent Nikkei Ave. Unit: billion yen 1.What is CyberAgent? [Return to Shareholders] Being conscious of the continuous return to shareholders Dividend and dividend payout ratio *Dividend of FY2017:We plan to discuss a surplus disposal plan at the annual General Meeting of Shareholders to be held in December 2017 **Commemorative dividend:To celebrate the market shift to the Tokyo Stock Exchange, commemorative dividend was conducted. * 9 ** Share price trend over the past 10 years
  11. 11. 0 1000 2000 3000 4000 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Share price [unit: yen] [Acquisition of treasury stock] Purchased and retired treasury stocks 4 times. Changes in stock prices 1.What is CyberAgent? 10 Feb. 2002 Acquired treasury stocks worth 1.5 billion yen (Jun. 2004: 1.19 billion yen retired) Nov. 2007 Acquired treasury stocks worth 0.99 billion yen (Sep. 2008: 0.99 billion yen retired) Oct. 2011 Acquired treasury stocks worth 1.99 billion yen Feb. 2013 Acquired treasury stocks worth 4.99 billion yen (Feb. 2013: 4.3 billion yen retired) Apr., 2004 Collapse of Internet bubble Jan., 2006 Livedoor shock Sep., 2008 Influence of subprime crisis May, 2012 Complete gacha shock
  12. 12. [Our Business] 11 Media Internet Advertising Game “AbemaTV”, “Ameba blog” etc. Advertising agency business specialize in Internet Develop and operate smartphone game TV AD GAME 1.What is CyberAgent? 3 pillars of business portfolio focusing on the internet industry
  13. 13. 12 2.Latest Financial Results Latest Financial Results Apr. – Jun. FY2017
  14. 14. Game 3Q Results Media Ad Sales: 89.5 billion yen up 17.3% YonY OP: 6.5 billion yen (existing business* 11.8B yen, AbemaTV etc. -5.2B yen) AbemaTV broke a WAU** record and increased user base Sales: 6.4 billion yen up 27.6% YonY OP: -4.7 billion yen (Incl. AbemaTV etc. -5.2B yen) Keep high sales growth rate Sales: 51.0 billion yen up 18.6% YonY OP: 4.1 billion yen up 10.3% YonY Going steadily with BanG Dream! Girls Band Party!*** Sales: 33.4 billion yen up 9.2% YonY OP: 6.8 billion yen down 17.1% YonY 13 *Existing business: Internet Advertisement, Game and Ameba etc. in Media and Investment Development. **WAU: Weekly Active User ***BanG Dream! Girls Band Party! : ©BanG Dream! Project ©Craft Egg Inc. ©bushiroad All Rights Reserved. AbemaTV Getting a positive response after fumbling its way 2.Latest Financial Results
  15. 15. 40.8 41.3 38.0 42.2 43.7 52.4 51.2 57.7 63.4 60.5 61.1 69.2 74.0 74.6 76.4 85.6 86.5 93.3 89.5 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY2013 FY2014 FY2015 FY2016 FY2017 [Quarterly Consolidated Sales] Unit: billion yen 89.5 billion yen (up 17.3% YonY) 14 2.Latest Financial Results
  16. 16. -0.44 -0.91 -0.71 -0.20 -0.14 -0.68 -3.4 -5.7 -5.0 -5.8 -5.2 1.5 3.6 1.6 3.5 4.2 6.5 4.0 9.3 12.9 9.1 6.9 9.4 13.1 11.9 11.7 13.0 11.4 13.7 11.8 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY2013 FY2014 FY2015 FY2016 FY2017 3Q OP of existing businesses 11.8 billion yen 6.58B *OP or loss of Existing businesses and Up-front investment: Earnings incentive is excluded. [Quarterly OP] Unit: billion yen ■OP of existing businesses (Internet Advertisement, Game, Ameba etc. in Media and Investment Development) ■OP of up-front investment (AbemaTV, Inc. etc.) 15 2.Latest Financial Results
  17. 17. 4.3 2.4 2.9 1.7 2.2 2.8 3.5 1.9 2.6 3.1 3.6 4.0 4.4 4.4 6.5 9.9 9.1 7.9 6.7 3.7 3.6 3.8 3.8 3.9 4.3 4.6 4.6 4.6 5.0 5.3 5.1 5.0 5.5 5.5 5.3 5.8 6.6 6.4 0.8 0.8 0.8 0.8 0.9 0.9 0.9 1.0 1.0 1.0 1.1 1.2 1.2 1.2 1.3 1.4 1.5 1.5 1.6 1.7 1.7 1.5 1.5 1.0 1.2 1.2 1.3 1.3 1.2 1.2 1.3 1.4 1.2 1.3 1.2 1.2 1.3 1.1 2.6 2.3 2.4 2.4 2.5 2.5 2.5 2.5 3.0 2.9 3.1 3.5 3.5 3.5 3.9 4.4 5.2 5.2 5.6 0.7 2.0 3.4 3.1 13.3 11.0 11.6 11.1 10.7 11.8 13.0 13.5 12.7 13.4 14.4 18.8 15.6 16.0 18.7 25.6 23.0 22.6 21.6 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY2013 FY2014 FY2015 FY2016 FY2017 Earnings Incentives Other Sales related costs Office costs Personnel Advertisement cost [Quarterly SG&A Expenses] 21.6 billion yen (up 15.3% YonY) Unit: billion yen 16 2.Latest Financial Results
  18. 18. 82 107 148 160 182 192 213 954 948 1,081 1,039 1,001 977 1,018 638 372 356 414 400 412 392 430 436 440 432 468 473 437 490 510 543 567 642 688 955 1,011 1,090 1,132 1,149 1,139 1,215 1,253 1,272 1,267 1,330 637 635 711 717 772 807 957 977 981 985 1,098 1,121 1,392 1,401 1,530 1,539 1,560 1,633 1,802 328 336 348 358 373 372 393 523 505 510 574 582 263 266 259 267 285 301 357 92 111 117 110 103 107 121 308 322 288 302 296 303 297 290 297 296 310 335 27 22 30 30 33 32 34 34 33 33 33 35 22 21 22 19 19 18 18 2,511 2,489 2,777 2,764 2,825 2,862 3,165 3,168 3,168 3,183 3,511 3,566 3,623 3,623 3,894 3,971 4,054 4,153 4,523 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY2013 FY2014 FY2015 FY2016 FY2017 Unit:people Investment Development Headquarters Other Internet Ad Game Media(exsisting business) Media(up-front Investment business) [No. of Employees] Increased 370 employees QonQ (301 new graduates joined in April 2017) *Segment change: The data of FY2016 were retroactively revised. (Moved Internet Advertisement business, etc. of CA Mobile, Inc. from Others to Internet Advertisement business.) 17 2.Latest Financial Results
  19. 19. Unit: million yen FY2017 3Q Apr-Jun 2017 FY2016 3Q Apr-Jun 2016 YonY FY2017 2Q Jan-Mar 2017 QonQ  Net Sales 89,593 76,408 17.3% 93,321 -4.0%  Gross profit 28,200 27,084 4.1% 30,604 -7.9%  SG&A expenses 21,619 18,753 15.3% 22,651 -4.6%  Operating profit 6,581 8,330 -21.0% 7,952 -17.2%  OPM 7.3% 10.9% -3.6points 8.5% -1.2points  Ordinary profit 6,057 8,061 -24.9% 7,415 -18.3%  Extraordinary income 256 0 362666.5% 320 -20.0%  Extraordinary loss 698 1,850 -62.2% 949 -26.4% Income before income taxes and non-controlling interests 5,615 6,211 -9.6% 6,786 -17.3%  Net profit* 380 1,036 -63.3% 1,302 -70.8% *Net profit: Affected by Non-controlling equity interest (minority interest) of Cygames, Inc. AbemaTV, Inc. is exempted from consolidated tax payment, Profit attributable to shareholders of parent. [PL] 18 2.Latest Financial Results
  20. 20. [BS] Unit: million yen End of Jun 2017 End of Jun 2016 YonY End of Mar 2017 QonQ  Current assets 101,917 96,441 5.7% 110,017 -7.4%  Cash deposits 37,055 40,561 -8.6% 38,884 -4.7%  Fixed assets 46,895 40,448 15.9% 45,354 3.4%  Total assets 148,812 136,889 8.7% 155,372 -4.2%  Current liabilities 49,705 45,920 8.2% 58,495 -15.0% (Income tax payable) 2,203 6,720 -67.2% 6,924 -68.2%  Fixed liabilities 2,265 1,838 23.2% 2,206 2.7%  Net assets 96,841 89,130 8.7% 94,670 2.3% 19 2.Latest Financial Results
  21. 21. 20 Internet Advertisement 3. Internet Advertisement Business
  22. 22. 6.8 8.3 9.1 11.5 15.1 FY2012 FY2013 FY2014 FY2015 FY2016 21 Sales growth exceeds the market growth Up 22.8% YonY [Yearly Sales] [Yearly OP] Keep high OPM Up 31.6% YonY 70.6 83.2 113.8 142.8 175.4 FY2012 FY2013 FY2014 FY2015 FY2016 Unit: billion yen Unit: billion yen 3. Internet Advertisement Business *Segment change: The data of FY2016 were retroactively revised according to new segments of FY2017. (Advertisement Business of CA Mobile, Inc. is added)
  23. 23. 2012 2013 2014 2015 2016 *Growth transition: Growth rate based on setting 2012 as “100” **Internet Ad Market: “Advertising Expenditures in Japan 2016” by Dentsu, Inc. 22 Internet Ad Market 100 3. Internet Advertisement Business [Market Comparison] Sales growth exceeds market growth
  24. 24. 7.0 8.1 8.3 10.5 11.5 15.1 16.4 18.9 20.7 21.7 22.7 25.3 26.9 29.3 29.5 35.9 37.8 39.9 40.7 12.5 12.5 11.6 12.3 12.9 14.8 12.0 11.9 12.5 13.4 12.7 13.5 13.7 14.3 13.5 11.9 10.9 12.6 10.3 19.6 20.7 19.9 22.8 24.4 29.9 28.5 30.9 33.3 35.1 35.5 38.8 40.7 43.7 43.0 47.9 48.7 52.5 51.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY2013 FY2014 FY2015 FY2016 FY2017 PC・Others Smartphone Smartphone ad ratio rose to 80% (up 11 points YonY) Unit: billion yen 3. Internet Advertisement Business [Quarterly Sales] 3Q 51.0 billion yen(up 18.6% YonY) *Segment change: The data of FY2016 were retroactively revised. (Advertisement Business of CA Mobile, Inc. is added) 23
  25. 25. 7.0 8.1 8.3 10.5 11.5 15.1 16.4 18.9 20.7 21.7 22.7 25.3 26.9 29.3 29.5 35.9 37.8 39.9 40.7 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY2013 FY2014 FY2015 FY2016 FY2017 [Smartphone Ad] 3Q 40.7 billion yen(up 37.9%YonY) 3. Internet Advertisement Business Unit: billion yen *Segment change: The data of FY2016 were retroactively revised. (Advertisement Business of CA Mobile, Inc. is added) Continuously driven by Video Ads 24
  26. 26. 0.18 0.26 0.36 0.61 0.97 1.0 1.3 1.9 2.6 3.1 3.4 5.8 6.1 7.7 7.7 10.8 10.7 11.9 11.6 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY2013 FY2014 FY2015 FY2016 FY2017 3. Internet Advertisement Business [Fortified field] In-feed Ad* 3Q 11.6 billion yen ( 1.5x YonY) *In-feed Ads: Ads posted in the timeline of websites or apps, etc. Ad method used for SNS, curation, news media, etc. Unit: billion yen 25
  27. 27. 0.10 0.26 0.19 0.19 0.25 0.48 0.50 0.37 0.46 0.81 0.83 1.5 1.9 2.3 2.8 5.2 5.2 6.7 7.5 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY2013 FY2014 FY2015 FY2016 FY2017 3. Internet Advertisement Business [Fortified field] Video Ad 3Q 7.5 billion yen ( 2.6x YonY) Video media such as YouTube performed steadily Unit: billion yen 26
  28. 28. Provide comprehensive Video Ad related services Advertising Agency Video Ad Production Video Ad Product, Solution Production Studio 3. Internet Advertisement Business [Fortified field] 27
  29. 29. 2.10 2.17 1.75 2.47 2.07 3.02 2.30 2.18 2.88 3.80 2.88 2.79 3.58 4.37 3.74 4.29 4.72 5.31 4.13 10.7% 10.5% 8.8% 10.8% 8.5% 10.1% 8.1% 7.1% 8.6% 10.8% 8.1% 7.2% 8.8% 10.0% 8.7% 9.0% 9.7% 10.1% 8.1% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY2013 FY2014 FY2015 FY2016 FY2017 OP OP Margin 」 3. Internet Advertisement Business *OP and OPM of Internet Advertisement business: Earnings incentive is excluded. **Segment change: The data of FY2016 were retroactively revised. (Advertisement business of CA Mobile, Inc. is added) Unit: billion yen [Quarterly OP] 3Q 4.13 billion yen (up 10.3% YonY) OPM 8.1% because of seasonal factors and assignments of 125 new graduates which was the largest ever 28
  30. 30. 29 3. Internet Advertisement Business [Competitive Advantage] ① ② ③ Strength in growing smartphone advertising Operation capability to realize high Ad effectiveness Scale and Pioneering advantage
  31. 31. Game 30 4. Game Business
  32. 32. 29.2 47.9 50.7 87.0 122.6 FY2012 FY2013 FY2014 FY2015 FY2016 4.2 8.2 8.4 17.8 30.4 FY2012 FY2013 FY2014 FY2015 FY2016 31 Successful hit titles perform well Up 40.9% YonY Up 70.3% YonY [Yearly Sales] [Yearly OP] 4. Game Business Unit: billion yen Unit: billion yen
  33. 33. 12.7 12.7 11.3 11.1 11.4 12.9 12.6 13.7 19.7 20.4 20.8 26.0 29.7 27.6 30.6 34.5 34.6 35.8 33.4 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY2013 FY2014 FY2015 FY2016 FY2017 FY2017 FY2016 FY2015 FY2014 FY2013 FY2012 or before Others *Others in Sales : Sales of goods etc. <Released Fiscal year> 4. Game Business [Quarterly Sales] 3Q 33.4 billion yen (up 9.2% YonY, down 6.7% QonQ) Unit: billion yen * Sales decreased QonQ, but progress in July goes well 32
  34. 34. 0.91 2.11 2.80 2.69 2.05 2.30 1.47 2.99 4.77 4.60 3.66 6.07 8.83 6.93 8.31 7.51 6.45 7.91 6.89 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY2013 FY2014 FY2015 FY2016 FY2017 4. Game Business [Quarterly OP] 3Q 6.8 billion yen (down 17.1% YonY, down 12.9% QonQ) Unit: billion yen *OP of Game business: Earnings incentive is excluded. 33
  35. 35. 3月9月3月9月3月9月3月9月 4. Game Business [Sales ranking] 7 major titles Shadowverse BanG Dream! Girls Band Party! *** 1st 10th 100th 30th THE iDOLM@STER CINDERELLA GIRLS STARLIGHT STAGE* Sengoku Enbu -KIZNA- GRANBLUE FANTASY Dragon Quest Monsters Super Light** * THE iDOLM@STER CINDERELLA GIRLS STARLIGHT STAGE : ©BANDAI NAMCO Entertainment Inc. It was jointly developed and is operated by ©BANDAI NAMCO Entertainment Inc. and Cygames, Inc. ** Dragon Quest Monsters Super Light : © 2014-2017 ARMOR PROJECT/BIRD STUDIO/SQUARE ENIX All Rights Reserved.© SUGIYAMA KOBO Developed by Cygames, Inc. *** BanG Dream! Girls Band Party! : ©BanG Dream! Project ©Craft Egg Inc. ©bushiroad All Rights Reserved **** Sales ranking calculates the App Store top sales ranking from AppDB. Monthly average values in ranking is used. (For July, use average until July 6) Joker ~Gang Road~ Sep. Sep. Sep. Sep.Mar. Mar. Mar. Mar. 2014 2015 2016 2017 34
  36. 36. [New titles] PRINCESS CONNECT!Re:Dive Multi-character development x Battle command 3 titles will be released in 4Q, 13 titles will come after FY2018 LOST ORDER Real tactics game Sevens Story Tactical RPG Provided by Cygames, Inc. Provided by WithEntertainment, Inc. Provided by Cygames, Inc. Pre- registration Animation RPG 4. Game Business KAMURAI TRIBE Provided by Applibot, Inc. 35 8/1/17 Released 8/18/17 Released
  37. 37. 36 4. Game Business ① ② ③ Operation capability which develops long life game title High hit rate of Cygames, Inc. Sharing know-how within the Group [Competitive Advantage]
  38. 38. Media 37 5. Media Business
  39. 39. 0.76 0.68 0.60 0.59 0.82 0.71 0.30 0.49 0.47 0.66 0.51 -0.44 -0.91 -0.71 -0.20 -0.14 -0.68 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY2015 FY2016 FY2017 ー5.7 ー3.4 -5.2ー5.0 ー5.8 6.0 5.9 5.5 5.7 5.8 5.3 5.0 5.7 5.9 6.4 6.4 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY2015 FY2016 FY2017 Unit:billion yen 5. Media Business [Quarterly Sales] 3Q 6.4 billion yen (up 27.6% YonY) [Quarterly OP] 3Q up-front investment -5.2 billion yen (Plan to invest 20B yen in FY2017) *OP of Media business: Earnings incentive is excluded. Online dating service went well 38 Unit:billion yen ■Existing businesses (Blog service, online dating services etc.) ■Up-front investment (AbemaTV, Inc. etc.)
  40. 40. 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY2014 FY2015 FY2016 FY2017 The 2nd largest after Pairs 2.32M users Ranked in Top Grossing App Store (Social Networking category)* *Ranked in Top Grossing of App Store (Social Networking category): As of June 30, 2017 5. Media Business Accumulated number of subscriptions of Tapple [Existing business] Unit:million of user Online dating service Tapple got more than 2.3 million users which is the 2nd largest in the market 39
  41. 41. Mar. Sep. Mar. Sep. Mar. Monthly PV Transition of Ameba Appli 2.8B PV Unit:PV 5. Media Business NO.1 blog service in Japan [Existing business] Blog service Ameba Appli achieved 2.8B monthly PV* ( 2x YonY) Re-evaluated as “Stock type media**” * 2.8 B monthly PV: As of the end of June 2017. ** Stock type media: blog, website etc. Reference) Flow type media: Facebook, Twitter etc. 40
  42. 42. April 11, 2016 Official launch What is AbemaTV? 41 5. Media Business
  43. 43. 60% 70% 80% 90% 100% 1995年 2000年 2005年 2010年 2015年 20s 30s Teens 40s 50s 60s [Transition of TV viewing time (TV ratings as 15mins or more on weekdays)] 42 In an environment marked by younger generation watch TV less frequently, we entered video business with “passive viewing style” **Source: Calculating based on a Survey by NHK Broadcasting Culture Research Institute “Research of living hours of Japanese 2015” 1995 2000 2005 2010 2015 5. Media Business
  44. 44. 1234 1234 AbemaTV 4 features AbemaTV 4 Strengths FREE 24H Operation About 25 channels Target Young Generation Device by device UI・UX 0 sec play Watch smoothly Various contents TV like quality 43 5. Media Business
  45. 45. etc. News Variety Shows Anime Drama Sports Hobbies News SPECIAL Variety shows Mid-night Anime Family Anime 24/7 Anime New Anime Nostalgic Anime Drama Korean・ Chinese Fighting Sports Surf Snow Skate Golf Football Fishing Mar-jong MTV HIPHOP Japanese Chess About 25Channels Documentary 44 K-Drama Reality Shows Iron 5. Media Business
  46. 46. Apr. Jun. Sep. Dec. Mar. Jun. 20M DL April 11 Release 5. Media Business Exceeded 20 million downloads in 16 months after its launch Unit:DL 45
  47. 47. April-June Popular Program Ranking Original Program: A record high of 14.2 million views 5.5 million views in total during 3 days of exclusive live stream 5. Media Business 1 2 3 1 Year Anniversary Special “Win 10M yen, if you could beat Koki Kameda” [LIVE] 30th Ryuo Championship Finals Yasuhiro Masuda, fourth-dan vs. Sota Fujii, fourth-dan 5 6 7 8 9 10 Overall Ranking [LIVE] Press Conference by a leading Kabuki actor, Ebizo Ichikawa [LIVE] METROCK 2017 in TOKYO Day2 [Exclusive] PUELLA MAGI MADOKA MAGICA THE MOVIE -Rebellion- [LIVE] 76th Ranking Tournament C class Shouji Segawa, fifth-dan vs. Sota Fujii, fourth-dan [Exclusive] KIZUMONOGATARI PART 1: TEKKETSU & PART 2: NEKKETSU [LIVE] Spring High School Baseball Tournament in Tokyo Final: Waseda Jittsugyo vs. The Third Senior High School of Nihon Univ. [LIVE] MONSTER STRIKE The Race of Theriomorphic Gods GENERATIONS High School TV 2hours SPECIAL 4 46
  48. 48. 0.63M views 7.93M views *©AbemaTV 5. Media Business Japanese Chess Ch: Games of Sota Fujii, fourth-dan that came out of original program became popular April 23. Original program “Sota Fujii, fourth-dan The 7 Challenges of Flame” Seventh challenge: vs. Yoshiharu Habu, triple crown 12.42M views June 26. Ryuo Championship Finals vs. Yasuhiro Masuda, fourth-dan Set the all-time record for winning 29 consecutive official games July 2. Ryuo Championship Finals vs. Yuki Sasaki, fifth-dan Failed to win the 30th consecutive official game 47
  49. 49. 8.23 9.43 9.16 2.48 3.50 3.64 5.04 5.45 5.93 5.85 5.83 6.86 8.4 7.24 7.53 Apr. May. Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May. Jun. 1.18 2.67 2.69 4.75 4.11 5.50 5.68 4.44 Apr. May. Sep. Dec. Mar. Jun. 9.16 million MAU Increasing steadily No TV advertising in 3Q User base lifted by popular contents Unit:million of user [AbemaTV] Unit:million of user *MAU: Users per month measured by Google Analytics(functionally impossible to measure under the age of 18) **WAU:Users per week measured by Google Analytics(functionally impossible to measure under the age of 18) 5. Media Business Change of MAU* Change of WAU** 0 48
  50. 50. [Plan1 after 4Q] • Strengthen regular programs that lead to users’ watching habit • Create edgy original programs • Create programs for young generation Strengthen Contents *©AbemaTV 5. Media Business 49
  51. 51. ・Data saving mode will be provided ・Strengthen the function of AbemaVideo Additional Function *©AbemaTV 5. Media Business [Plan2 after 4Q] Data Saving mode Save 50% of data communication AbemaVideo • Rating and Review • Recommendation • Play at x2 speed and more! 50
  52. 52. 2 revenue models 51 1. Same revenue model as TV 2 Program ProgramCM 1SPOT Original SPOT* 45Infomercial 3 Sponsor Program COMING SOON COMING SOON Tie-up SPOT COMING SOON 5. Media Business
  53. 53. 52 *©AbemaTV In addition to linear broadcast of AbemaTV, Time shifting function AbemaVideo added 2. AbemaVideo released in April 2017 that charges 960 yen per month 2 revenue models 5. Media Business
  54. 54. 53 Recommendation Free Programs (1/5 of all programs) Repeat broadcasting of original programs Pay Programs (4/5 of all programs) Need to subscribe to Premium Plan (960 yen / Month) *Number of titles and episodes:At the time of service launch **©AbemaTV (The image differs from the actual screen) 機能 拡充 5. Media Business Top page of AbemaVideo
  55. 55. Apr. May. Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May. Jun. Video service MAU Comparison* 2016 2017 [AbemaTV] 5. Media Business *Video service MAU comparison: Made into a graph with data from VALUES eMark+ an internet access log analysis service which monitors nationwide user’s log provided by VALUES, inc. AbemaTV TVer Amazon PrimeVideo niconico Hulu VideoPass Netflix dTV DAZN 54
  56. 56. Amazon PrimeVideo Hulu dTV DAZN Netflix Pay Real time On demand Video Service Comparison* Video Pass Abema Video niconico TVer Free [AbemaTV] 5. Media Business A business model that has no competitor *Video Service Comparison: Created based on the main business model of each video services searched at the end of June,2017. 55
  57. 57. 56 [Competitive Advantage] TV-quality programs1 Technical capability to create service with high usability2 Financial stability to invest backed by healthy existing businesses3 5. Media Business
  58. 58. Aims to be a mass media [Future Plans of AbemaTV] 1 2 3 10M WAU 5. Media Business Continues up-front investment in FY2018 Establishes the business model with no competitor as a pioneer Gives the first priority to strengthen the contents 57
  59. 59. 6. Business Forecast for FY2017 Business Forecast for FY2017 Oct 2016 – Sep 2017 58
  60. 60. 3.2 6.3 10.8 16.2 26.7 43.2 60.1 76.0 87.0 93.8 96.6 119.5 141.1 162.4 205.2 254.3 310.6 360.0 -1.6 -0.1 -0.2 -0.1 1.7 2.6 4.3 5.5 4.6 4.4 9.3 14.3 17.4 10.3 22.2 32.7 36.7 28.0 -2.0 18.0 38.0 58.0 -12.3 87.7 187.7 287.7 FY2000 FY2001 FY2002 FY2003 FY2004 FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017E Sales OP 0 Unit: billion yen Invest in AbemaTV Strengthen up-front investment in AbemaTV Positioned as up-front investment period for AbemaTV Sales 360.0 billion yen (up 15.9% YonY) OP 28.0 billion yen (down 23.9% YonY) 59 6. Business Forecast for FY2017
  61. 61. 0% 50% 100% 当期純利益 経常利益 営業利益 売上高 進捗率 業績予想 360.0B 28.0B 10.0B 26.7B [Progress rates toward earnings forecast] Sales Operating profit Ordinary profit 60 Forecast for Net profit* has not revised at the moment. 269.4B 75% 20.8B 19.4B 3.0B 30% 75% 73% *Net profit: Profit attributable to shareholders of parent. Net Profit* 6. Business Forecast for FY2017
  62. 62. Game Internet Ad Media ¥2.3B ¥31.6B ¥15.3B Up-front Investment ー¥10.0B FY2016 ¥36.7B Game Internet Ad Media ¥2.0B ¥28.0B ¥18.0B ー¥20.0B FY2017 ¥28.0B Conservative approach taking into account volatility up 17% YonY Strengthen up- front investment ¥48.0B Up-front Investment ー¥20.0B Up-front Investment Existing Business Earnings insentives ー¥3.1B *Omit Investment Development Business, Other Business and inter-segment transfers. [OP outlook by segment] ** Profit forecast by business segments, announced on 27th October, 2016 (excluding segment change of FY2017) 61 6. Business Forecast for FY2017
  63. 63. 0% 50% 100% 先行投資 メディア事業 (既存) ゲーム事業 広告事業 進捗率 業績予想 Forecast for FY2017 28.0B -20.0B 18.0B 28.0B 2.0B [Progress rates toward OP by segments] Up-front Investment Internet Advertisement Game Media (Existing business) 14.1B 79% 21.2B 1.6B -16.0B 76% 83% 80% Proceed as planned 62 6. Business Forecast for FY2017
  64. 64. Management Policy 7. Management Policy 63
  65. 65. Aim to increase growth rate in excess of market growth Create multiple hit titles and expand our market share Establish AbemaTV for mass mediaMedia Ad Game Develop Media Business as a main pillar in the mid/long term 64 7. Management Policy
  66. 66. [Operating Profit (Image)] To accumulate profit through the AD Business and Game Business, invest in the Media Business, and grow it as a pillar in the mid to long terms. 65 AD Business Game Business Media Business 7. Management Policy
  67. 67. 41.7 45.5 54.5 66.7 77.1 0.0 20.0 40.0 60.0 80.0 100.0 26.6% 21.0% 39.4% 21.2% 23.1% 0% 10% 20% 30% 40% 8.5 10.5 9.5 14.7 13.6 0 3 6 9 12 15 17.4 10.3 22.2 32.7 36.7 0.0 18.0 36.0 5.8% 5.0% 7.5% 5.2% 4.4% 0% 10% 20% OP ROE※※ DOEDividend RatioNet Profit Shareholders’ equity Management Index DOE 5% or more as a guide 21.7% 24.0% 19.1% 24.4% 18.9% 0% 12% 24% More than 5% *The total dividend amount for the term ended Sep. 2014 includes a commemorative dividend of 20 yen/share. **Net profit: Profit attributable to shareholders of parent. ***DOE=ROE×Dividend Ratio ****The unit of OP and net profit, shareholders’ equity: billion yen 66 7. Management Policy
  68. 68. Aim to be a company that is supported in the medium to long term 67
  69. 69. References 8. References 68
  70. 70. 8. References: Market Data Market Data 69
  71. 71. 2,041.1 2,016.1 1,998.1 1,909.2 1,713.9 1,732.1 1,723.7 1,775.7 1,791.3 1,834.7 1,808.8 1,837.4 377.7 482.6 600.3 698.3 706.9 774.7 806.2 868.0 938.1 1,051.9 1,159.4 1,310.0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 [Variation in Ad Cost by Media*] *Variation in Ad Cost by Media: Dentsu, Inc. Ad cost in Japan in 2016. ** Forecast of the global advertising market: Zenith. Advertising Expenditure Forecasts September 2016 . *** The Internet ad cost: Ad production expenses are included. TV Internet Newspapers Magazines Radio Up 13.0% YonY Unit: billion yen 70 Domestic Internet advertising market keeps high growth rate and surpassed 1.3 trillion yen. In global advertising market**, internet advertising may overtake TV advertising in 2017. 8. References: Market Data
  72. 72. 21% 80.0 207.3 345.0 497.9 647.6 801.0 2012 2013 2014 2015 2016 2017E YonY Up30.1% YonY Up23.7% [Our share][Smartphone Ad Market*] Smartphone Ad Market 2016 *Smartphone Ad Market: Internet Ad Market Size Estimate (Jan-Dec 2016) – Originally estimated by D2C/CCI Unit:billion yen 71 8. References: Market Data
  73. 73. 38.0 76.8 140.1 187.5 221.2 247.6 268.4 285.4 301.3 2014 2015 2016 2017E 2018E 2019E 2020E 2021E 2022E 27%YonY Up33.8% YonY Up18.0% YonY Up11.9% YonY Up82.4% [In-feed Ad Market*] [Our share] *In-feed Ad Market:Surveyed by CyberAgent, Inc. / Seed Planning Digital InFact, February 9, 2017 © CyberAgent, Inc. All rights Reserved. In-feed Ad Market 2016 Unit:billion yen 72 8. References: Market Data
  74. 74. 19% YonY Up57.4% YonY Up39.9% YonY Up29.9% YonY Up25.9% [Our share][Video Ad Market] Video Ad Market 2016 *Video Ad Market:Online video reserch / Digital InFact, November 9, 2016 © CyberAgent, Inc. All rights Reserved. Unit:billion yen 31.7 53.5 84.2 117.8 153 192.6 230.9 262.5 291.8 2014 2015 2016E 2017E 2018E 2019E 2020E 2021E 2022E .0 73 8. References: Market Data
  75. 75. 48.0 261.0 560.0 895.0 925.0 945.0 960.0 0.8% 8.4% 8.0% 6.2% 10.2% 13.1% 0.0%0 2011 2012 2013 2014 2015 2016E 2017E Smartphone Game Market Our share Rank Country Revenue 1 China 24.3 2 United States 23.5 3 Japan 12.4 4 Germany 4.1 5 South Korea 4.1 6 United Kingdom 3.9 7 France 2.8 8 Canada 1.8 9 Spain 1.8 10 Italy 1.7 Unit:billion USD [Smartphone Game Market*] [Game Market by Country**] *Smartphone Game Market: Yano Research Institute Ltd, Market trend and prospect analysis of smartphone game market 2017 **Game Market by Country: Newzoo global game revenue estimates for 2016 Unit:billion yen YonY Up2.2% YonY Up1.6% 74 8. References: Market Data
  76. 76. YonY Up19.0% YonY Up13.8% YonY Up10.2% [The number of paid video streaming service users*] *The number of paid video streaming service users: ICT Research & Consulting , Trend of Pay Video Streaming Service Usage 2016. Calculated based on the estimates of the number of flat rate and pay-per-view users Unit:10,000 users 75 8. References: Market Data 790 980 1,160 1,380 1,570 1,730 2014 2015 2016E 2017E 2018E 2019E
  77. 77. YonY Up30.0% YonY Up33.3% YonY Up31.3% YonY Up34.4% [Online Dating, Matchmaking Service Market*] *Online Dating, Matchmaking Service Market: Market scale is calculated for a total value of usage fee of the services paid by users. Source: MatchingAgent, Inc. / Digital InFact, Inc. **Definition of Online Dating, Matchmaking Service: Online dating, matchmaking service is a service that introduces romance or marriage partners online. It excludes services with low ethics that are appealing "sexual encounters" such as dating sites and those with high confidentiality of user information disclosed on the service. Unit:billion yen 12.0 15.6 20.8 27.3 36.7 45.1 51.7 57.7 2015 2016E 2017E 2018E 2019E 2020E 2021E 2022E 76 8. References: Market Data
  78. 78. 77 8. References: CSR CSR
  79. 79. 78 What is Makuake? Makuake is a crowd funding service that the owner of the project gives back goods or services according to the amount of funds provided by the supporters 7.参考資料:社会的な取り組み Makuake supported more than 2,000 projects since 2013, it became one of the largest purchase-type crowd funding service in Japan Project example: Supported to make In This Corner of the World into the animation movie A topical work that a part of the film production expenses collected by crowd funding. The movie released in November with support of over 3,000 people. After release it acquired a good reputation and decided to expand overseas and boost the number of screening theaters. 8. References: CSR
  80. 80. 79 Hold programming courses for elementary students In the eight schools nationwide including Shibuya, Osaka and Fukuoka, totaling 17,000 participants in the course. Tomohiro Ueno, CEO of CA Tech Kids, Inc., attends to an opinion-sharing platform for the government and representatives of the business world, tries to promote the business. 8. References: CSR
  81. 81. 80 Institutional Investor CyberAgent has been awarded by the U.S. financial magazine "Institutional Investor“ in the internet sector for 5 years in a row. 2017 1st place in the “Best IR Professionals”, 2nd place in the “Best IR programs” etc. Ranked TOP3 in 8 categories. Gomez Received “Silver Award” in conprehensive IR site ranking 2015 by Gomez Consulting Co., Ltd. IR site ranking BBAA BtoB Advertising Association Japan Received “Gold Award” in the annual report and CSR report sections in “the 37th Japan BtoB Advertisement Award 2016” for 2 years in a row. 2015 Business Report “BUSINESS REPORT 2015” Gold Award 2014 Business Report “Growing Forward –progress with purpose-” Gold Award 8. References: IR Awards

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