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ENGLISH
Presentation Material
for New Investors
April 24, 2024
1
[Forward-looking statement]
The future information, such as earnings forecast, written in this document is based on
our expectations and assumptions as of the date the forecast was made. Our actual
results could differ materially from those described in this forecast because of various
risks and uncertainties.
Internet Advertisement Business
Game Business
Media Business
References
1.
Financial Summary (January - March 2024)
2.
3.
4.
5.
7.
6.
0. Contents
2
8.
Medium to Long-Term Strategy
What is CyberAgent ?
Dividend and Management Index
- Governance
- Index Inclusions
Forecast
9.
What is CyberAgent?
1. What is CyberAgent?
3
4
[Purpose]
1. What is CyberAgent?
CyberAgent had defined the “Purpose” that clearly states the
significance of its existence in October 2021.
5
[Vision]
1. What is CyberAgent?
[Mission Statement]
6
1. What is CyberAgent?
Susumu Fujita
President, founder
(owns 17.6% shares*1)
1998 Founded CyberAgent, Inc.
2000 made the company listed on TSE Mothers at the youngest age
in history.*2
2016 Vice Representative Director, Japan Association of New Economy
(current post)
2017 Won “Zaikai Management Award” announced by the publisher of
the business magazine Zaikai.
2021 Ranked third in the “BEST CEOs” in Gaming & Internet
sector of The 2021 All-Japan Executive Team.*3
[Representative Director]
*1 As of September 30, 2021
*2 As of December 2000
*3 The ranking is announced by the U.S. financial magazine, Institutional Investor.
[History]
2000 Listed on the TSE Mothers market
2014 Listed on the TSE 1st Section
1998 Founding of CyberAgent, Inc.
2022 Listed on the TSE Prime Market
Client
Internet Media
Media Ad Game
Three pillars of businesses that focus on the internet industry
7
Ad Agencies
Distribution
Order
Performance
Report
Blog service
Dating service
1. What is CyberAgent?
The new future of TV,
“GRANBLUE FANTASY*”
“PRINCESS CONNECT! Re:Dive*”
“UMA MUSUME Pretty Derby*”
* “UMA MUSUME Pretty Derby“ “GRANBLUE FANTASY” “PRINCESS CONNECT! Re:Dive”: © Cygames, Inc.
Online Betting Service
for Keirin
Direct to
consumers
8
FY2023
¥720.2B
Internet
Ads
53%
Game
24%
Media
19%
Other
3%
1%
Investment
Development
1. What is CyberAgent?
[Consolidated Sales Breakdown*]
*Consolidated Sales Breakdown: Calculated from figures before deducting internal transactions
9
2. Financial Summary
FY24 Q2 Financial Summary
January - March 2024
Sales and OP increased, driven by a successful new game
title and the anniversary events of major titles.
ABEMA's weekly active users (WAU) grew 1.2x to 23.64 million*.
ABEMA-related businesses performed well and became
profitable on a quarterly basis.
Sales reached a new record, with its strength in maximizing
advertising effectiveness. OPM has grown for the third quarter in a
row. (3.7% ⇒ 4.3% ⇒ 5.4% ⇒ 5.5% )
Game
Media
Ad
FY2024
Q2
10
Sales: 42.0 billion yen up 25.8% YoY
OP: 0.16 billion yen +0.7 billion yen YoY
Sales: 107.3 billion yen up 7.1% YoY
OP: 5.9 billion yen up 19.6% YoY
Sales: 67.1 billion yen up 8.1% YoY (up 49.1% QoQ)
OP: 18.2 billion yen up 19.8% YoY (up 421.2% QoQ)
Sales: 215.1 billion yen up 10.0% YoY
OP: 21.0 billion yen up 12.2% YoY
Sales reached a new record and OP increased year on year.
Increase
Increase
Increase
Increase
Increase
Increase
Increase
Increase
* 23.64 million WAU was recorded in the week of April 1, 2024. Comparing with the week of April 3, 2023.
2. Financial Summary
110.8
117.3
113.6 111.7
115.6
129.1
112.8
120.8
131.0
163.4
192.2
179.7
171.0
191.1
172.1
176.2
167.5
195.6
171.7
185.2
193.0
215.1
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 11
[Consolidated Sales] 215.1 billion yen (up 10.0% YoY)
Billion Yen
Consolidated sales reached a new record high.
2. Financial Summary
5.3
8.6
9.4
7.4 7.7
12.4
8.2
5.3
7.0
25.8
26.8
19.8
25.7
10.3
13.2
-1.2
18.7
1.4
5.5
6.2
21.0
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
FY2019 FY2020 FY2021 FY2022 FY2023 FY2024
OP surpassed 20 billion yen for the first time in the last
eight quarters.
21.0 billion yen (up 12.2% YoY)
12
44.5
[Consolidated OP]
Billion Yen
2. Financial Summary
9.9
6.1 5.3 5.8
7.8 7.3 6.4
8.2
10.1 9.5 10.0
11.5
13.4 13.6 14.3 14.9 15.5 15.6
13.2
15.0
17.1 16.3
8.0
8.5
7.6
8.6
7.1 8.4
7.2
10.2 7.3 9.4 8.6
12.2
9.0
11.5
10.5
11.5 10.5
12.5
11.1
13.1
11.0 13.0
2.1
2.1
2.1
2.2 2.2
2.1
2.1
2.1
2.2
2.2 2.2
2.2
2.2
2.3 2.4
2.4 2.4
2.5
2.5
2.5 2.5
2.5
0.8
0.8
0.8
1.0 1.3 0.8
1.1
1.3
1.4
1.3 1.5
1.6
1.6
1.7 1.8
2.0 2.2
2.2
2.6
2.8 1.7
1.2
7.9
7.3
7.4
7.2
7.7 7.9
6.7
7.8
7.7
8.0 8.4
9.4
8.1
7.7 8.5
9.3 9.6
10.2
10.2
10.7
11.2
11.2
28.9
25.0
23.4
25.0
26.3 26.9
23.7
29.7
28.9
30.6 30.8
37.1
34.6
37.1
37.8
40.4 40.4
43.2
39.8
44.3 43.7 44.4
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
FY2019 FY2020 FY2021 FY2022 FY2023 FY2024
Other
Research and development expenses
Office costs
Personnel
Advertisement cost
13
[SG&A Expenses] 44.4 billion yen (up 2.9% YoY)
Billion Yen
*1
*2
*1 Other: Outsourcing expenses, sales-related expenses, external standard taxation, entertainment expenses, and others.
*2 Personnel: includes 1.4 billion yen special incentives in Q4 FY2020 and Q4 FY2021.
2. Financial Summary
830 802 844 798 780 754 791 804 799 789 841 823 829 829 950 886 912 901 956 1,065 1,050 1,039
1,552 1,565 1,633 1,553 1,492 1,466 1,549 1,522 1,481 1,462
1,604 1,623
1,655 1,690 1,903 1,962 2,055 2,133
2,377
2,381 2,348 2,353
1,522 1,554
1,644
1,612
1,643
1,670 1,786 1,826 1,924 1,942 2,105 2,150 2,183 2,221
2,389
2,429
2,466
2,525
2,717
2,738 2,759 2,818
490 487
601
608 596 578
603 605 610 620
649
730 743 764
798 817
748
730
762
746 724 713
372 362
369
370 366 362
370 374 370 374
384
395 393
394
352 365
368
380
416
432 445 457
14 12
11
11 11 12
14 13 12 12
12
12 12
13
14 13
14
13
13
12 10 10
4,7804,782
5,102
4,9524,8884,842
5,1135,1445,1965,199
5,595
5,7335,8155,911
6,406
6,472 6,563
6,682
7,241
7,3747,3367,390
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
FY2019 FY2020 FY2021 FY2022 FY2023 FY2024
Investment Development
Headquarters
Other
Game
Internet Ad
Media
14
[No. of Employees] Total headcount was 7,390 at the end of March.
(478 new graduates joined in April.)
headcount
*Internet Ad: MicroAd, Inc. became unconsolidated on June 29, 2022, and is reflected from FY 2019 retrospectively.
*
2. Financial Summary
million yen FY2024 Q2 FY2023 Q2 YoY FY2024 Q1 QoQ
Net Sales 215,129 195,657 10.0% 193,075 11.4%
Gross profit 65,559 62,004 5.7% 50,019 31.1%
SG&A expenses 44,488 43,218 2.9% 43,734 1.7%
Operating income 21,070 18,786 12.2% 6,284 235.3%
Operating margin 9.8% 9.6% 0.2pt 3.3% 6.5pt
Ordinary income 21,310 18,830 13.2% 6,478 228.9%
Extraordinary income 133 93 42.7% 168 -20.8%
Extraordinary loss 1,903 921 106.5% 3,556 -46.5%
Income before income taxes
and non-controlling interests
19,539 18,002 8.5% 3,090 532.3%
Net income (loss) attributable to
shareholders of parent*
10,338 7,900 30.8% -472 -
15
[PL]
*Net income(loss) attributable to shareholders of parent is affected by the fact that AbemaTV, Inc. is exempted from the group tax sharing system, and non-controlling equity interest (minority interest) of Cygames, Inc.
2. Financial Summary
16
[BS]
million yen
End of
Mar. 2024
End of
Mar. 2023
YoY
End of
Dec. 2023
QoQ
Current assets 368,366 329,795 11.7% 342,589 7.5%
Cash deposits 204,506 183,260 11.6% 184,763 10.7%
Fixed assets 131,353 98,943 32.8% 126,033 4.2%
Total assets 499,775 428,812 16.5% 468,681 6.6%
Current liabilities 164,312 134,099 22.5% 132,819 23.7%
(Income tax payable) 10,521 9,812 7.2% 2,827 272.1%
Fixed liabilities 96,021 71,119 35.0% 113,948 -15.7%
Shareholders' equity 139,439 133,816 4.2% 129,018 8.1%
Net Assets 239,441 223,593 7.1% 221,914 7.9%
2. Financial Summary
FY2024
Forecast
3. Forecast
October 2023 - September 2024
17
-20
180
380
580
780
980
1180
1380
-120
880
1,880
2,880
3,880
4,880
5,880
6,880
7,880
8,880
FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024E FY2025E FY2026E
売上高
営業利益
Sales 750 billion yen (up 4.1% YoY)
OP 30 billion yen (up 22.2% YoY)
We are committed to increasing sales and
profits with FY2023 OP as the low point.
18
2. ABEMA investment phase
3. “Uma
Musume Pretty
Derby”*1
became a big hit
FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024EFY2025E FY2026E FY2027E ・・・・・・・・
※2
売上高
営業利益
※2
4. Growth phase
1. Growth phase
*1“Uma Musume Pretty Derby” : ©Cygames, Inc. *2 Sales and OP assumptions may differ materially.
30Billion Yen
OP
Sales
750Billion Yen
Sales *2
OP *2
The whole company has been united since the
preparation stage to achieve it.
3. Forecast
0% 25% 50% 75% 100%
Ordinary profit
Operating profit
Sales
19
750B
30B
408.2B
27.7B
27.3B
Progress rate
54.4%
Progress rate
92.6%
30B
[Progress to Forecast]
Progress rate
91.2%
The successful new game title contributed to the second quarter results which
tend to be strong every year. All indicators are making good progress.
3. Forecast
Internet Advertisement
20
4. Internet Advertisement Business
2,089.8
2,070.5
2,058.4
1,976.8
1,784.8
1,810.5
1,812.8
1,877.0
1,902.3
1,956.4 1,932.3
1,965.7
1,947.81,912.3
1,861.2
1,655.9
1,839.3 1,801.9
1,734.7
1,037.7
351.2
116.3
113.9
377.7
482.6
600.3
698.3706.9
774.7806.2
868.0
938.1
1,051.9
1,159.4
1,310.0
1,509.4
1,758.9
2,104.8
2,229.0
2,705.2
3,091.2
3,333.0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
[Ad spend distribution by medium*1]
Internet
TV
Newspapers
Magazines
Radio
Unit: billion yen
21
4. Internet Advertisement Business
*1 Variation in Ad Cost by Medium : Dentsu, Inc. 2023 Advertising Expenditures in Japan
The internet overtook the TV advertising market in 2019, and has become the largest
advertising medium. The internet advertising market is expected to grow by 5.2%
year-on-year in 2024.
*2 5.2% year-on-year in 2024 : Dentsu Group Inc. Global Ad Spend Forecasts 2023-2026
Exceeded the total of the four
mass mediums in 2021.
Surpassed TV ads in
2019.
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Internet
Ad Market
[Market Comparison]
Sales growth outpaces market growth.
22
4. Internet Advertisement Business
100
*1 Growth transition: Growth rate based on setting 2012 as “100”
*2 Internet Ad Market: Dentsu Inc. 2023 Advertising Expenditures in Japan
45.6%
23
Japan*1 Global*2
4. Internet Advertisement Business
[Internet Share of Total Media Ad Spend]
The share of internet ad spend to total ad spend grew to 45.6% in Japan and 57.7%
worldwide in 2023. It is expected to exceed 58.8% in 2024 and 61.1% in 2026 globally.
*2 Internet share of total media ad spend worldwide: Dentsu Group Inc. Global Ad Spend Forecasts 2023-2026
*1 Internet share of total media ad spend in Japan: Dentsu Inc. 2023 Advertising Expenditures in Japan
2023
55.8%
57.7%
2022
2023
43.5%
2022
256.6
269.3
321.3
376.8
405.3
FY2019 FY2020 FY2021 FY2022 FY2023
19.63
21.07
22.57
24.46
18.31
7.7% 7.8%
7.0% 6.5%
4.5%
FY2019 FY2020 FY2021 FY2022 FY2023
OP
OPM
24
[Full Year Sales] [Full Year OP]
Billion yen
Billion yen
405.3 billion yen (up 10.2% YoY*1) 18.3 billion yen (down 25.1% YoY)
Outpace market growth*2
continuously.
Investment in AI and DX businesses
is continued.
*1 YoY change: MicroAd, Inc. became an unconsolidated affiliate and the sales of 9.44 billion yen of FY2022 has been exempted.
*2 Market growth: Grew 6.8% year over year in 2023. “Advertising Expenditure Forecast 2023” published in July 2023 by NIKKEI Advertising Research Institute.
5.2%
19.7%
18.7%
10.2%
indicates the sales of MicroAd, Inc.
4. Internet Advertisement Business
62.2
66.6
64.3 63.3
67.3
72.7
64.3 64.9
76.5
80.6 81.8 82.2
87.8
97.0
99.5
92.3
95.6
100.2
105.4
104.0105.3
107.3
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
FY2019 FY2020 FY2021 FY2022 FY2023 FY2024
25
[Quarterly Sales]
Billion Yen
indicates the sales of MicroAd, Inc., which became a non-consolidated company.
Q2 107.3 billion yen (up 7.1% YoY)
Sales reached a new record, with its strength
in maximizing advertising effectiveness.
4. Internet Advertisement Business
4.23
5.43
5.04
4.91
5.66
6.72
4.74
4.52
5.70
7.23
5.20
4.99
5.74
7.47
6.19
5.05 5.00
4.93
3.87
4.50
5.66
5.90
6.8%
8.2% 7.8% 7.8% 8.4%
9.2%
7.4% 7.0% 7.5%
9.0%
6.4%
6.1%
6.5%
7.7%
6.2% 5.5%
5.2%
4.9%
3.7%
4.3% 5.4%5.5%
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
FY2019 FY2020 FY2021 FY2022 FY2023 FY2024
OP
OP Margin
26
[Quarterly OP]
Billion Yen
*Quarterly OP and OPM: Special incentives in FY2020 and FY2021 are excluded.
OPM bottomed out in the third quarter of FY2023 and grew
for the third quarter in a row.
Q2 5.9 billion yen (up 19.6% YoY)
4. Internet Advertisement Business
Maximize Advertising Effectiveness
27
×
Technological Capability
<AI> <Creative>
FUTURE EVENT
Operation Capability
[Competitive Advantage] CyberAgent brings high advertising effectiveness through
operation and technological capability utilizing AI.
Digital Twin Label
CG・Voice Communication AI
4. Internet Advertisement Business
Sept.
2023
Sept.
2023
KIWAMI Odaiba Studio
28
Academia-Industry partnerships
University
of Osaka
Kyoto
University
Tokyo
Institute of
Technology
Hanjuku
Virtual
Co., Ltd.
Tohoku
University
Waseda
University
Keio
University
Tokyo
Metropolitan
University
Kwansei
Gakuin
University
Ritsumeikan
University
University
of Tsukuba
Kyushu
University
about
25
institutions
Applying research outputs to business
[Technological Capability] AI Lab, an AI R&D organization, was established in 2016
and ranked 4th in Japan and 49th in the world among the
top 100 companies* leading AI research in 2022.
※ AI Research Ranking 2022 Thundermark Capital (Revised in February 2023)
Publication of research papers
4. Internet Advertisement Business
Ranking of AI Companies in Japan
1st place : NTT
2nd place : NEC
3rd place : Fujitsu
4th place : CyberAgent
95 papers were accepted at top conferences
in 2023. (approx. 50 papers in 2022)
KIWAMI Prediction TD
KIWAMI Prediction Trimming
KIWAMI Prediction AI
KIWAMI Prediction AI Human KIWAMI Prediction LED
KIWAMI Prediction LP
29
Released in May 2020
[Technological Capability] We utilize in-house AI products to achieve high-volume
creative production and rapid operations in a shorter time.
AI produces highly effective ad
creative. more than 80% of our
advertisers*1 introduced it.
AI automates creating text ads.
more than 80% of our advertisers*1
introduced it.
Released in May 2020
Released in October 2020
More than 600 successful AI-
generated models*2 has been
used in ads.
Released in January 2021
AI predicts the ad effectiveness
of shot video and still images in
real-time.
Released in June 2021
AI generates a batch of images
with high predicted CTR*3 values
for each search term.
Released in June 2021
AI creates landing pages*4 with
high predicted ad effectiveness
values.
*1 Advertisers: Advertisers who run display ads and search ads and can implement AI-driven products.
*2 As of June 2021
*3 CTR : Click Through Rate, A ratio of clicks on the number of times your ad was viewed.
*4 Landing page : The first page that a user accesses via a search-based advertisement.
4. Internet Advertisement Business
30
*1 NVIDIA: a technology company based in Santa Clara, California
*2 GPU: Graphics Processing Unit
※2
4. Internet Advertisement Business
[Technological Capability] CyberAgent is partnering with NVIDIA*1 from 2022
to facilitate larger-scale and faster AI development.
80 NVIDIA H100 Tensor Core GPUs have been installed
to adapt large-scale AI development
*2
31
[Technological Capability]
AI lab released a Japanese large language model (LLM) to the public in May, and
version 2 in November 2023.
CyberAgent Released
Japanese LLM
with up to 6.8 Billion Parameters
The Model Trained with Open Data | Commercial Use Available
4. Internet Advertisement Business
CyberAgent Released
Japanese LLM Ver.2
Up to 32,000 Tokens | Commercial Use Available
32
We are improving our productivity by using
technologies such as generative AI.
[Technological Advantage]
2023年11月
March 2024
Use AI and LLM to promote business development and operational efficiency
Ad creative tools with generative AI
“Kiwami Prediction Series”
“Kiwami AI Odaiba Studio” Film studio equipped with AI and CG technologies
CyberAgentLM CyberAgentLM2
KIWAMI Prediction
communication AI
New ad creative tool to
help communication
around ad creative.
Japanese language models developed by CyberAgent
7 billion parameters
6.8 billion parameters
4. Internet Advertisement Business
33
We are expanding DX business to a wide range of industries
by utilizing our extensive knowledge and technical
capabilities.
4. Internet Advertisement Business
[Upfront Investment]
Expertise and
technical capability
in the digital field
A dedicated team
with over 300 staffs
Research & development
capability of AI
Our capabilities in DX business Advertising
Creating a new
advertising business
which utilizes data
DX Direct Business Center
DX Support
Support for digital services
from strategy formulation
to development and
service growth
Supporting the introduction
of online doctor visits and
medication guidance.
Healthcare
34
Create advertising business
utilizing data
Partner Companies
¥1.5T(E)
Market Size Estimate in Retail
1%
[Focus Area] We focus on industries that have unique data and developing
collaborations with them.
Advertising Business*1
*1 Advertising Business: Estimated by CyberAgent based on the US market.
*2 Commercial Sales Value: the “Current Survey of Commerce 2022,” Ministry of Economy, Trade and Industry
Commercial Sales
Value
¥154T
4. Internet Advertisement Business
Mobility
Finance
Telcom
Retail
35
Developing retail media
4. Internet Advertisement Business
[Upfront Investment] We promote various DX business in retail companies.
Producing new advertising platforms
that leverages purchasing data,
physical stores, and e-commerce
websites owned by retailers.
• Developing and growing
an original app
• E-commerce marketing
• Developing humanless
stores
• Turn retail stores into
media
• Support advertisers
• Remote customer
service by robots
36
https://www.cyberagent.co.jp/en/way/list/detail/id=28055
4. Internet Advertisement Business
[Video] CyberAgent Delivers DX for Partners with "Technology" and
"Implementation Capability“ is available on CyberAgent IR Channel.
z
37
DX business* is moving into growth and then maturity stage.
Upfront
Investment
Stage
FY2023
30partner companies
FY2024 FY2025
[Future Expectations]
4. Internet Advertisement Business
Growth
Stage
Maturity
Stage
*DX business: to help industries such as retail, finance, mobility, and telecoms to develop new ways to advertise.
38
New service and partnership are released in the DX business.
[Future Plans]
*DX business: to help industries such as retail, finance, mobility, and telecoms to develop new ways to advertise.
November 2023 January 2024
ANA X and CyberAgent to Launch
Digital Ad Distribution Service
“ANA Moment Ads”
Strategic Business Alliance Agreement on
Marketing Platform Business
4. Internet Advertisement Business
[Competitive Advantage]
Adaptability to change in response
to the external situation
Operation capability to realize
high advertising effectiveness
Cutting-edge technology using
AI and other technologies
1
2
3
39
4. Internet Advertisement Business
Game
40
5. Game Business
0
0.05
0.1
0.15
0.2
0.25
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Online game platforms
Video game hardware
Video game software
41
[Game Market in Japan]
The gaming population, which increased due to demand from people staying at
home during the coronavirus pandemic, has become established.Expand to 2
trillion yen scale.
5. Game Business
Trillion yen
(Predicted value)
* Kadokawa ASCII Research Institute "Famitsu Mobile Game White Paper 2023" (published in March 2023) Collection period: December 31, 2012 - December 25, 2022
42
[The structure of the game business]
9 subsidiaries in the game segment
5. Game Business
26.0
30.3
96.4
60.5
22.7
FY2019 FY2020 FY2021 FY2022 FY2023
152.2 155.8
262.7
228.3
179.1
FY2019 FY2020 FY2021 FY2022 FY2023
[Full Year Sales] [Full Year OP]
43
179.1 billion yen (Down 21.6% YoY) 22.7 billion yen (Down 62.5% YoY)
Billion yen
Billion yen
Sales decreased due to slowdown of the
successful game released in FY 2021 and
others. New title will be released in
September.
OP declined due to lower sales of the
most profitable titles.
5. Game Business
36.3
39.9
38.2 37.7
35.2
44.8
36.7
39.0
29.9
63.9
92.3
76.4
58.3
69.0
46.2
54.8
40.9
62.1
33.7
42.3 45.0
67.1
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 44
[Quarterly Sales] Q2 67.1 billion yen (up 8.1% YoY) (up 49.1% QoQ)
Billion Yen
A successful new game title and the anniversary events of
major titles contributed to increase sales.
5. Game Business
5.1
10.4
7.5 7.4
1.1
23.2
28.1
17.1
21.3
9.8
12.1
5.2
15.2
2.4
3.4
18.2
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
FY2020 FY2021 FY2022 FY2023 FY2024
45
[Quarterly OP] Q2 18.2 billion yen (up 19.8% YoY) (up 421.2% QoQ )
*Quarterly OP : Special incentives in FY2020 and FY2021 are excluded.
Billion Yen
44.2
-0.1
OP grew compared to the same quarter of the previous year.
5. Game Business
46
*1 © Cygames, Inc.
*2 Number of units sold overseas as of April 3, 2024.
RPG
[New Game] Granblue Fantasy: Relink was released in February 2024 and sold
one million units eleven days after the launch.
80% of the purchase come from overseas. It aims to be successful
worldwide.
Physical Version
Standard Edition
¥8,778 (tax incl.)
Deluxe Edition
¥14,300 (tax incl.)
Collector’s Edition
¥27,500 (tax incl.)
Standard Edition
¥8,778 (tax incl.)
Digital Version
Special Edition
¥11,700 (tax incl.)
Digital Deluxe Edition
¥13,860 (tax incl.)
*Available only on PS5®/PS4®
5. Game Business
47
*1 © Cygames, Inc.
*2 Event period:February 14 - March 30, 2024
*3 © Cygames, Inc.
*4 © 2024 Theater version“UMA MUSUME Pretty Derby: The Door to a New Era” Production Committee Public Release: May 2024
*5 Tokyo : Feb 3-4,2024 in Ariake Arena, Osaka :Mar 22-23,2024 in Osaka Castle Hall
Strengthen the multimedia franchise beyond a mobile game, making the IP
long-term over ten years.
[Uma Musume Pretty Derby*1]
Game
Mobile
Merchandise
Other Media
Console
Partnership
Brand
collaboration
Music streaming
Comics
Anime
Movie
Physical Event
event
Products
3rd anniversary*2 released in 2024 *3
The 5th event GO BEYOND arena tour *5
Released in May 2024 *4
Aims to create long-term IP
5. Game Business
48
RPG
New games will keep coming from FY2024 onward.
Gakuen iDOLM@STER is scheduled to be released in spring
2024.
[Upcoming games*]
Owned
IP
NEW
confidential
confidential
Third
Party
IP
Future Plans
confidential
Released
1. Mobile - Dec.2022
2. Mobile - Sep.2023
Copyrights are stated on the last page.
3. Console - Dec.2023
5. Mobile - Nov.2023
6. Console - Feb.2024
4. Console - Feb.2024
7. Mobile / PC - Summer 2024
9. Mobile Release date TBD
10. Console - Release date TBD
11. Console - Release date TBD
12. Mobile Release date TBD
13. Mobile Release date TBD
6. Mobile – Spring 2024
8 .Console - By the end of 2024
FY2024
FY2023
5. Game Business
49
[Competitive Advantage] Collaborative work among subsidiaries
Released in Mar.2014 Released in Feb.2021
Released in Sep.2020 Released in Sep.2023 Released in Nov.2023
Released in Jun.2016
Third Party IP
1. Granblue Fantasy 3. UMA MUSUME Pretty Derby
4. Project SEKAI Colorful Stage!
Feat.Hatsune Miku
2.Shadowverse
5.FINAL FANTASY VII EVER CRISIS 6. Jujutsu Kaisen Phantom Parade
Owned IP Owned IP Owned IP
Third Party IP Third Party IP
Copyrights are stated on the last page.
Major titles
5. Game Business
50
[Competitive Advantage]
Face Scanner
Body Scanner
Motion Capture Studio Sound Studio
Possesses a complete development environment.
5. Game Business
Creative appeal and technological
capabilities to increase success rate
of new game titles
[Competitive Advantage]
Extending the lifespan of game titles
by leveraging operational skills
and making them viral
51
5. Game Business
①
②
Media
52
6. Media Business
-16.8
-18.2
-15.1
-12.4
-11.5
FY2019 FY2020 FY2021 FY2022 FY2023
46.5
57.0
82.8
112.1
141.1
FY2019 FY2020 FY2021 FY2022 FY2023
[Full Year Sales]
53
6. Media Business
[Full Year OP]
Strong ABEMA related sales led
to sales growth.
141.1 billion yen (up 25.9% YoY) Operation Loss 11.5 billion yen
(0.8 billion yen loss reduction YoY )
Billion Yen
Billion Yen
Loss improved despite the large
investment.
12.2
13.8 13.3
17.6
20.4
19.8
19.9
22.6
24.9
27.3
29.5
30.2
33.4 33.4 33.3
40.8
42.742.0
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
FY2020 FY2021 FY2022 FY2023 FY2024
54
[Quarterly Sales] [Quarterly OP]
OP turned profitable for the first time since
investment in ABEMA began.
Q2 0.16 billion yen
(0.7 billion yen loss reduction YoY )
ABEMA-related business was strong.
Q2 42.0 billion yen (up 25.8% YoY)
Billion Yen
*1 Q1 FY2023:The expenses related to FIFA World Cup Qatar 2022 are recorded.
*2 Quarterly OP: Special incentives in FY2020 and FY2021 are excluded.
Billion Yen
-5.0
-4.2
-4.0
-4.6
-3.9
-3.4
-3.8
-3.5
-3.8
-1.9
-3.9
-2.6
-0.5
-1.5
-0.9
0.1
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
FY2020 FY2021 FY2022 FY2023 FY2024
-9.3
-0.06
6. Media Business
April 11, 2016 Official launch
55
AbemaTV, Inc.* has established as a joint venture between
CyberAgent, Inc. and TV Asahi corporation.
[ABEMA]
*AbemaTV, Inc. announced the issuance of new shares to Dentsu Inc. and Hakuhodo DY Media Partners Inc. through a third-party allocation on October 31, 2018.
Shareholding Ratio after TPA: CyberAgent, Inc. 55.2%; TV Asahi Corporation 36.8%; Dentsu Inc. 5.0%; Hakuhodo DY Media Partners Inc. 3.0%
6. Media Business
56
©AbemaTV, Inc.
[ABEMA]
ACCESSIBILITY
Available for everyone
Shares real-time events by live streaming
Starts a trend in Japan
Brings the latest news
Not bound by time or place
FREE
LIVE
TREND
NEWS
The features of the new future television, ”ABEMA"
6. Media Business
57
©AbemaTV, Inc.
[ABEMA] ABEMA provides 24/7 broadcast with approx. over 25 channels.
6. Media Business
NEW
NEW NEW NEW NEW
Multiple device support and diverse channels.
58
*1 Compatible TVdevices: as of 2023 (The compatibility differs from model to model.
*2 Amazon FireTVSeries: include Fire Stick, Fire TVStick 4KMax, Fire TVCube, and others. ©AbemaTV, Inc.
Amazon FireTV Series *2 Compatible TV devices *1
[ABEMA] ABEMA is compatible with various devices.
Major TV devices have an “ABEMA button” on their remote
controllers.
The “ABEMA button” is installed on the
Amazon Fire TV series remote controller.
6. Media Business
©AbemaTV, Inc.59
Multi-camera Angles
Device Compatibility
Time Shift Replay
On-demand Replay
Comment Feature
Original Website for FIFA World Cup Qatar 2022
The Value of ABEMA as a medium has considerably increased.
Game Data
[ABEMA] ABEMA brought a new viewing experience for the FIFA World Cup
Qatar 2022 broadcast.
6. Media Business
60
[ABEMA]
*1 WAU: Weekly Active Users
*2 23.64 WAU are recorded in the week of April 1, 2024. The year-on-year comparison is made with the week of April 3, 2023. ©AbemaTV, Inc.
WAU grew 1.2 times year-on-year to 23.64 million,
driven by high profile content such as MLB.
Growth of WAU*1
20 million
15 million
10 million
5 million
23.64million
WAU*2
6. Media Business
61
[ABEMA]
*1 ABEMA de DAZN was launched on February 23, 2024. Subscription fee: ¥4,200/month (tax incl.), ¥32,000/year (tax incl.)
*2 ABEMA de WOWSPO was launched on April 2, 2024. Subscription fee: ¥1,980/month (tax incl.) ©AbemaTV, Inc.
ABEMA partners with DAZN*1 and WOWSPO*2 to provide more
sports content on ABEMA.
61
ABEMA de DAZN*1 was launched in February 2024. ABEMA de WOWSPO*2 was launched in April 2024.
ABEMA ABEMA de DAZN ABEMA de WOWSPO
6. Media Business
Mar.
2024
PC
13%
Smart Phone
66%
TV
17%
Tablet
5%
62
Viewing Device Composition
The proportion of viewing on large
screens is increasing.
On-demand
48%
Linear
52%
On-demand viewing and linear viewing are
almost equal now.
Time Spent by Linear vs. On-demand
[ABEMA]
6. Media Business
Mar.
2024
63
Teenagers
13%
Age 20-34
33%
Age 35+
54%
Female
32%
Male
68%
Users' ages are varied. Male users accounted for more
than 60%, reflecting the increase
in sports content.
[ABEMA]
Users by Age Group Users by Gender
6. Media Business
Mar.
2024
Mar.
2024
3.9
4.7 4.5
7.9
10.3 10.4 10.5
13.3
15.2
16.9
19.0
19.0
21.7
21.3 21.1
23.5
25.8
26.2
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
FY2020 FY2021 FY2022 FY2023 FY2024
64
[Sales of ABEMA & Related Businesses]
Q2 26.2 billion yen (up 22.6% YoY)
Monthly
Subscription
Related
Businesses
PPV
Ads
Billion Yen
Advertising sales and ABEMA-related business are growing.
6. Media Business
①Ads for Connected TVs
65
Sponsored Contents
Demographic
GEO-Demographic
Link with TV
Commercials
Exclusive distribution on the first view
area of the home screen of ABEMA.
Ad contents integrated with ABEMA's
original popular programs.
③Audience Targeting
②Programming Targeting
Premium Ads – Direct Buying Model-
Brand Lift Survey
Measure App Installs
Measure Website
Traffic
Ad Distribution Ad Effectiveness
Measurement
©AbemaTV, Inc.
Programmatic Ads - CPM Pricing Model -
[Ad Products of ABEMA] ABEMA focuses on performance advertising.
6. Media Business
66
*:Some contents are excluded.
Ad-free*
Time-shifting Replay
Download Available
Unlimited Contents
©AbemaTV, Inc.
[Subscription Plan of ABEMA]
ABEMA offers various features and benefits for 960 yen a month.
Discount Contents on
the PPV Store
Comments Available after
Live Streaming
6. Media Business
[ABEMA PPV] 6 features available on “ABEMA PPV ONLINE LIVE“
67
©AbemaTV, Inc.
5. Time-shifting replay
4. Comment
2. Time shift playback 3. Shopping
BUY
6. Multi-device compatibility
1. 3D live virtual concert
6. Media Business
68
[ABEMA Related Businesses]
Winticket has the No.1 share of the Internet bicycle race voting service.
Live Stream
of Races
Predictions
Using AI
Extensive
Database
Keirin Shows
on ABEMA
6. Media Business
69
©AbemaTV, Inc.
ABEMA ABEMA Related Businesses
Public Sports
Entertainment
Entertainment Business Unit
Ads
Subscription
NEW
NEW
[Business Overview] Expand the business around ABEMA to improve monetization.
Production
PPV
6. Media Business
Commerce
IP
Anime Business Unit
70
[BABEL LABEL]
*1 Netflix original movie “The Parades” ranked No. 1 in the weekly movie ranking on Netflix Japan in the week of March4 and11, 2024.
*2 Release Date:March 14 in Taiwan, April 4 in Hong Kong, April 10 in Singapore, April 10 in Malaysia, April 12 in Vietnam, May 8 in Cambodia, May 20 in Mainland China, May 22 in Korea,
The Parades ranked No. 1 in the weekly movie ranking on Netflix Japan
for two consecutive weeks. The new movie 18x2 Beyond youthful Days
was No. 1 at the box office on its first day in Taiwan. More than 600,000
people in the Asian region watched the movie.
Netflix Japan weekly movie ranking No. 1*1
Feb.2024
Worldwide release
No. 1 at the box office on its first day in Taiwan
May 3, 2024
Release in Japan
Exclusively streaming on Netflix.
© 2024 18x2 Beyond youthful Days Film Partners
6. Media Business
Technological capabilities to realize
stable streaming
1
Production capabilities to deliver high
quality content
2
Creativity to develop new business and
new features
3
71
[Competitive Advantage]
6. Media Business
Medium to Long-Term Strategy
7. Medium to Long-Term Strategy
72
73
7. Medium to Long-Term Strategy
Ad
Media
Game
With FY2023 OP at the bottom,
we are committed to increasing sales and profits.
Make ABEMA a social infrastructure that can connect
anytime, anywhere. Aim to be profitable by enhancing
monetization.
Take market share with the capability to maximize
advertising effectiveness. Working to commercialize
AI and DX related business to improve OP margin.
Create high-quality new games.
Make Game business stable by extending lifespan of
released games.
8.Dividend and Management Index
Dividend and
Management Index
74
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
20002001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
FY2019 FY2020 FY2021 FY2022 FY2023
75
* CyberAgent Inc. vs Nikkei Stock Average (Nikkei 225): Transition of stock price of CyberAgent vs Nikkei stock average.
Stock Price of CyberAgent vs Nikkei Stock Average* Total dividend Amount
[Return to Shareholders]
CyberAgent
Nikkei Stock
Average
4.1
5.5
We aim to increase stock price over the medium to long-term and pay
dividend continually.
4.2
Billion yen
(X)
8.Dividend and Management Index
7.0
7.5
245.2%
64.9%
13.4%
29.2%
142.5%
FY2019 FY2020 FY2021 FY2022 FY2023
5.2% 5.1% 5.1% 5.2% 5.3%
FY2019 FY2020 FY2021 FY2022 FY2023
5.3
%
×
ROE DOE
Dividend
Payout Ratio
=
株主への経営指標は?
76
We adopted “DOE* 5% or more” as management index to maintain shareholder
returns through dividends or share buybacks, etc. during the investment phase.
[Management Index]
*DOE: Dividend on Equity (ROE x Dividend Payout Ratio)
Nikkei Average 3.0%
E
8.Dividend and Management Index
2.1%
7.8%
38.1%
17.7%
3.7%
FY2019 FY2020 FY2021 FY2022 FY2023
3.7%
142.5
%
0
500
1,000
1,500
2,000
2,500
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
77
Share price [unit: yen]
[Acquisition of treasury stock]
Purchased and retired treasury stocks 4 times.
Changes in
stock prices
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
8.Dividend and Management Index
9. Reference
78
Reference
- Governance
- Index Inclusions
79
Board of Directors
Four executive directors
include a female director
本体役員室
常務執行役員
9. Reference_ Governance
50% of the board are outside directors.
The number of executive officers increased in FY2023.
The female-to-male ratio is 18.2% in senior management*.
Corporate Executive Office
Managing Executive Officers Executive Officers
Four outside directors
Eight executive directors who are higher than senior managing executive officers
※New management team has introduced in FY2021.
80
Outside
Directors
[Directors]
9. Reference_ Governance
Eight directors include three Audit and Supervisory Committee
members. Seven male directors and a female director, of which four
are outside directors.
Susumu Fujita
Representative Director
Yusuke Hidaka
Director
Go Nakayama
Director
Koichi Nakamura
Outside Director
Kozo Takaoka
Outside Director
Female
Members of Audit and Supervisory Committee
Toko Shiotsuki
Director
Standing member of Audit
and Supervisory Committee
Tomomi Nakamura
Outside Director
Masao Horiuchi
Outside Director
Outside
Outside Outside
81
9. Reference_ Governance
[Executive officers]
Female
Corporate Executive Office
82
9. Reference_ Governance
[Executive officers]
Female Female Female Female
Managing Executive Officers
Corporate Officers
CyberAgent is added to Nikkei 225 in October 2018, being part of
13 indexes in total, including ESG indexes.
83
[Inclusions]
9. Reference_ Index Inclusions
Nikkei 225
Nikkei Stock
Index 300
Nikkei 500 Stock
Average
Nikkei 225 Climate
Change 1.5℃
Target Index
The JPX-Nikkei
Index 400
Japan New
Economy Index
FTSE All-World
Index
FTSE JAPAN
Index
S&P/JPX
Carbon Efficient
Index
JPX Prime 150
Index
ESG
MSCI Japan
Empowering
Women Select Index
Morningstar Japan
ex-REIT Gender
Diversity Tilt Index
MSCI Japan
Empowering
Women Index
(WIN)
ESG ESG ESG
ESG
Aiming to be a company with
medium to long-term supporters
84
85
Click!!
Integrated Report
CyberAgent Way 2023
In the 2023 edition, we will explain the competitive advantages and growth strategies of our three main businesses
through interviews with 11 executive officers: the media business centered around ABEMA, which marked its 7th anniversary,
the internet advertising business that generates about half of our consolidated revenues, and the game business that has
succeeded in producing many hit titles.
https://www.cyberagent.co.jp/en/ir/library/annual/
Integrated Report CyberAgent Way 2023
86
1 Tokyo Revengers Pazuribe! The Road to Supremacy : Ken Wakui, Kodansha/ Anime “Tokyo Revengers” Production Committie
2 FINAL FANTASY VII EVER CRISIS :© SQUARE ENIX Powered by Applibot, Inc. Character Design: TETSUYA NOMURA / Character Illustration: LISA FUJISE
3 Granblue Fantasy Versus: Rising : © Cygames, Inc. Developed by ARC SYSTEM WORKS
4 Granblue Fantasy: Relink: © Cygames, Inc.
5 Jujutsu Kaisen Phantom Parade:© Gege Akutami/ Shueisha, Jujutsu Kaisen Production Committee © Sumzap, Inc./TOHO CO., LTD.
6 Gakuen iDOLM@STER : THE IDOLM@STER & ©Bandai Namco Entertainment Inc.
7 Shadowverse: Worlds Beyond: © Cygames, Inc.
8 Umamusume: Pretty Derby –Party Dash : © Cygames, Inc.
10 GARNET ARENA: Mages of Magicary : © Cygames, Inc.
11 Project Awakening : © Cygames, Inc.
*Games #9,12, and 13 are to be disclosed.
Copyrights of Game Business Page 48
Copyrights of Game Business Page 49
1 © Cygames, Inc.
2 © Cygames, Inc.
3 © Cygames, Inc.
4 © SEGA / © Colorful Palette Inc. / © Crypton Future Media, INC. www.piapro.net All rights reserved.
5 © SQUARE ENIX Powered by Applibot, Inc. CHARACTER DESIGN: TETSUYA NOMURA / CHARACTER ILLUSTRATION: LISA FUJISE
6 ©Gege Akutami/ Shueisha, Jujutsu KaisenProduction Committee © Sumzap, Inc./TOHO CO., LTD.

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Cyberagent_For New Investors_EN_240424.pdf

  • 1. ENGLISH Presentation Material for New Investors April 24, 2024
  • 2. 1 [Forward-looking statement] The future information, such as earnings forecast, written in this document is based on our expectations and assumptions as of the date the forecast was made. Our actual results could differ materially from those described in this forecast because of various risks and uncertainties.
  • 3. Internet Advertisement Business Game Business Media Business References 1. Financial Summary (January - March 2024) 2. 3. 4. 5. 7. 6. 0. Contents 2 8. Medium to Long-Term Strategy What is CyberAgent ? Dividend and Management Index - Governance - Index Inclusions Forecast 9.
  • 4. What is CyberAgent? 1. What is CyberAgent? 3
  • 5. 4 [Purpose] 1. What is CyberAgent? CyberAgent had defined the “Purpose” that clearly states the significance of its existence in October 2021.
  • 6. 5 [Vision] 1. What is CyberAgent? [Mission Statement]
  • 7. 6 1. What is CyberAgent? Susumu Fujita President, founder (owns 17.6% shares*1) 1998 Founded CyberAgent, Inc. 2000 made the company listed on TSE Mothers at the youngest age in history.*2 2016 Vice Representative Director, Japan Association of New Economy (current post) 2017 Won “Zaikai Management Award” announced by the publisher of the business magazine Zaikai. 2021 Ranked third in the “BEST CEOs” in Gaming & Internet sector of The 2021 All-Japan Executive Team.*3 [Representative Director] *1 As of September 30, 2021 *2 As of December 2000 *3 The ranking is announced by the U.S. financial magazine, Institutional Investor. [History] 2000 Listed on the TSE Mothers market 2014 Listed on the TSE 1st Section 1998 Founding of CyberAgent, Inc. 2022 Listed on the TSE Prime Market
  • 8. Client Internet Media Media Ad Game Three pillars of businesses that focus on the internet industry 7 Ad Agencies Distribution Order Performance Report Blog service Dating service 1. What is CyberAgent? The new future of TV, “GRANBLUE FANTASY*” “PRINCESS CONNECT! Re:Dive*” “UMA MUSUME Pretty Derby*” * “UMA MUSUME Pretty Derby“ “GRANBLUE FANTASY” “PRINCESS CONNECT! Re:Dive”: © Cygames, Inc. Online Betting Service for Keirin Direct to consumers
  • 9. 8 FY2023 ¥720.2B Internet Ads 53% Game 24% Media 19% Other 3% 1% Investment Development 1. What is CyberAgent? [Consolidated Sales Breakdown*] *Consolidated Sales Breakdown: Calculated from figures before deducting internal transactions
  • 10. 9 2. Financial Summary FY24 Q2 Financial Summary January - March 2024
  • 11. Sales and OP increased, driven by a successful new game title and the anniversary events of major titles. ABEMA's weekly active users (WAU) grew 1.2x to 23.64 million*. ABEMA-related businesses performed well and became profitable on a quarterly basis. Sales reached a new record, with its strength in maximizing advertising effectiveness. OPM has grown for the third quarter in a row. (3.7% ⇒ 4.3% ⇒ 5.4% ⇒ 5.5% ) Game Media Ad FY2024 Q2 10 Sales: 42.0 billion yen up 25.8% YoY OP: 0.16 billion yen +0.7 billion yen YoY Sales: 107.3 billion yen up 7.1% YoY OP: 5.9 billion yen up 19.6% YoY Sales: 67.1 billion yen up 8.1% YoY (up 49.1% QoQ) OP: 18.2 billion yen up 19.8% YoY (up 421.2% QoQ) Sales: 215.1 billion yen up 10.0% YoY OP: 21.0 billion yen up 12.2% YoY Sales reached a new record and OP increased year on year. Increase Increase Increase Increase Increase Increase Increase Increase * 23.64 million WAU was recorded in the week of April 1, 2024. Comparing with the week of April 3, 2023. 2. Financial Summary
  • 12. 110.8 117.3 113.6 111.7 115.6 129.1 112.8 120.8 131.0 163.4 192.2 179.7 171.0 191.1 172.1 176.2 167.5 195.6 171.7 185.2 193.0 215.1 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 11 [Consolidated Sales] 215.1 billion yen (up 10.0% YoY) Billion Yen Consolidated sales reached a new record high. 2. Financial Summary
  • 13. 5.3 8.6 9.4 7.4 7.7 12.4 8.2 5.3 7.0 25.8 26.8 19.8 25.7 10.3 13.2 -1.2 18.7 1.4 5.5 6.2 21.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 OP surpassed 20 billion yen for the first time in the last eight quarters. 21.0 billion yen (up 12.2% YoY) 12 44.5 [Consolidated OP] Billion Yen 2. Financial Summary
  • 14. 9.9 6.1 5.3 5.8 7.8 7.3 6.4 8.2 10.1 9.5 10.0 11.5 13.4 13.6 14.3 14.9 15.5 15.6 13.2 15.0 17.1 16.3 8.0 8.5 7.6 8.6 7.1 8.4 7.2 10.2 7.3 9.4 8.6 12.2 9.0 11.5 10.5 11.5 10.5 12.5 11.1 13.1 11.0 13.0 2.1 2.1 2.1 2.2 2.2 2.1 2.1 2.1 2.2 2.2 2.2 2.2 2.2 2.3 2.4 2.4 2.4 2.5 2.5 2.5 2.5 2.5 0.8 0.8 0.8 1.0 1.3 0.8 1.1 1.3 1.4 1.3 1.5 1.6 1.6 1.7 1.8 2.0 2.2 2.2 2.6 2.8 1.7 1.2 7.9 7.3 7.4 7.2 7.7 7.9 6.7 7.8 7.7 8.0 8.4 9.4 8.1 7.7 8.5 9.3 9.6 10.2 10.2 10.7 11.2 11.2 28.9 25.0 23.4 25.0 26.3 26.9 23.7 29.7 28.9 30.6 30.8 37.1 34.6 37.1 37.8 40.4 40.4 43.2 39.8 44.3 43.7 44.4 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 Other Research and development expenses Office costs Personnel Advertisement cost 13 [SG&A Expenses] 44.4 billion yen (up 2.9% YoY) Billion Yen *1 *2 *1 Other: Outsourcing expenses, sales-related expenses, external standard taxation, entertainment expenses, and others. *2 Personnel: includes 1.4 billion yen special incentives in Q4 FY2020 and Q4 FY2021. 2. Financial Summary
  • 15. 830 802 844 798 780 754 791 804 799 789 841 823 829 829 950 886 912 901 956 1,065 1,050 1,039 1,552 1,565 1,633 1,553 1,492 1,466 1,549 1,522 1,481 1,462 1,604 1,623 1,655 1,690 1,903 1,962 2,055 2,133 2,377 2,381 2,348 2,353 1,522 1,554 1,644 1,612 1,643 1,670 1,786 1,826 1,924 1,942 2,105 2,150 2,183 2,221 2,389 2,429 2,466 2,525 2,717 2,738 2,759 2,818 490 487 601 608 596 578 603 605 610 620 649 730 743 764 798 817 748 730 762 746 724 713 372 362 369 370 366 362 370 374 370 374 384 395 393 394 352 365 368 380 416 432 445 457 14 12 11 11 11 12 14 13 12 12 12 12 12 13 14 13 14 13 13 12 10 10 4,7804,782 5,102 4,9524,8884,842 5,1135,1445,1965,199 5,595 5,7335,8155,911 6,406 6,472 6,563 6,682 7,241 7,3747,3367,390 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 Investment Development Headquarters Other Game Internet Ad Media 14 [No. of Employees] Total headcount was 7,390 at the end of March. (478 new graduates joined in April.) headcount *Internet Ad: MicroAd, Inc. became unconsolidated on June 29, 2022, and is reflected from FY 2019 retrospectively. * 2. Financial Summary
  • 16. million yen FY2024 Q2 FY2023 Q2 YoY FY2024 Q1 QoQ Net Sales 215,129 195,657 10.0% 193,075 11.4% Gross profit 65,559 62,004 5.7% 50,019 31.1% SG&A expenses 44,488 43,218 2.9% 43,734 1.7% Operating income 21,070 18,786 12.2% 6,284 235.3% Operating margin 9.8% 9.6% 0.2pt 3.3% 6.5pt Ordinary income 21,310 18,830 13.2% 6,478 228.9% Extraordinary income 133 93 42.7% 168 -20.8% Extraordinary loss 1,903 921 106.5% 3,556 -46.5% Income before income taxes and non-controlling interests 19,539 18,002 8.5% 3,090 532.3% Net income (loss) attributable to shareholders of parent* 10,338 7,900 30.8% -472 - 15 [PL] *Net income(loss) attributable to shareholders of parent is affected by the fact that AbemaTV, Inc. is exempted from the group tax sharing system, and non-controlling equity interest (minority interest) of Cygames, Inc. 2. Financial Summary
  • 17. 16 [BS] million yen End of Mar. 2024 End of Mar. 2023 YoY End of Dec. 2023 QoQ Current assets 368,366 329,795 11.7% 342,589 7.5% Cash deposits 204,506 183,260 11.6% 184,763 10.7% Fixed assets 131,353 98,943 32.8% 126,033 4.2% Total assets 499,775 428,812 16.5% 468,681 6.6% Current liabilities 164,312 134,099 22.5% 132,819 23.7% (Income tax payable) 10,521 9,812 7.2% 2,827 272.1% Fixed liabilities 96,021 71,119 35.0% 113,948 -15.7% Shareholders' equity 139,439 133,816 4.2% 129,018 8.1% Net Assets 239,441 223,593 7.1% 221,914 7.9% 2. Financial Summary
  • 19. -20 180 380 580 780 980 1180 1380 -120 880 1,880 2,880 3,880 4,880 5,880 6,880 7,880 8,880 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024E FY2025E FY2026E 売上高 営業利益 Sales 750 billion yen (up 4.1% YoY) OP 30 billion yen (up 22.2% YoY) We are committed to increasing sales and profits with FY2023 OP as the low point. 18 2. ABEMA investment phase 3. “Uma Musume Pretty Derby”*1 became a big hit FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024EFY2025E FY2026E FY2027E ・・・・・・・・ ※2 売上高 営業利益 ※2 4. Growth phase 1. Growth phase *1“Uma Musume Pretty Derby” : ©Cygames, Inc. *2 Sales and OP assumptions may differ materially. 30Billion Yen OP Sales 750Billion Yen Sales *2 OP *2 The whole company has been united since the preparation stage to achieve it. 3. Forecast
  • 20. 0% 25% 50% 75% 100% Ordinary profit Operating profit Sales 19 750B 30B 408.2B 27.7B 27.3B Progress rate 54.4% Progress rate 92.6% 30B [Progress to Forecast] Progress rate 91.2% The successful new game title contributed to the second quarter results which tend to be strong every year. All indicators are making good progress. 3. Forecast
  • 21. Internet Advertisement 20 4. Internet Advertisement Business
  • 22. 2,089.8 2,070.5 2,058.4 1,976.8 1,784.8 1,810.5 1,812.8 1,877.0 1,902.3 1,956.4 1,932.3 1,965.7 1,947.81,912.3 1,861.2 1,655.9 1,839.3 1,801.9 1,734.7 1,037.7 351.2 116.3 113.9 377.7 482.6 600.3 698.3706.9 774.7806.2 868.0 938.1 1,051.9 1,159.4 1,310.0 1,509.4 1,758.9 2,104.8 2,229.0 2,705.2 3,091.2 3,333.0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 [Ad spend distribution by medium*1] Internet TV Newspapers Magazines Radio Unit: billion yen 21 4. Internet Advertisement Business *1 Variation in Ad Cost by Medium : Dentsu, Inc. 2023 Advertising Expenditures in Japan The internet overtook the TV advertising market in 2019, and has become the largest advertising medium. The internet advertising market is expected to grow by 5.2% year-on-year in 2024. *2 5.2% year-on-year in 2024 : Dentsu Group Inc. Global Ad Spend Forecasts 2023-2026 Exceeded the total of the four mass mediums in 2021. Surpassed TV ads in 2019.
  • 23. 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Internet Ad Market [Market Comparison] Sales growth outpaces market growth. 22 4. Internet Advertisement Business 100 *1 Growth transition: Growth rate based on setting 2012 as “100” *2 Internet Ad Market: Dentsu Inc. 2023 Advertising Expenditures in Japan
  • 24. 45.6% 23 Japan*1 Global*2 4. Internet Advertisement Business [Internet Share of Total Media Ad Spend] The share of internet ad spend to total ad spend grew to 45.6% in Japan and 57.7% worldwide in 2023. It is expected to exceed 58.8% in 2024 and 61.1% in 2026 globally. *2 Internet share of total media ad spend worldwide: Dentsu Group Inc. Global Ad Spend Forecasts 2023-2026 *1 Internet share of total media ad spend in Japan: Dentsu Inc. 2023 Advertising Expenditures in Japan 2023 55.8% 57.7% 2022 2023 43.5% 2022
  • 25. 256.6 269.3 321.3 376.8 405.3 FY2019 FY2020 FY2021 FY2022 FY2023 19.63 21.07 22.57 24.46 18.31 7.7% 7.8% 7.0% 6.5% 4.5% FY2019 FY2020 FY2021 FY2022 FY2023 OP OPM 24 [Full Year Sales] [Full Year OP] Billion yen Billion yen 405.3 billion yen (up 10.2% YoY*1) 18.3 billion yen (down 25.1% YoY) Outpace market growth*2 continuously. Investment in AI and DX businesses is continued. *1 YoY change: MicroAd, Inc. became an unconsolidated affiliate and the sales of 9.44 billion yen of FY2022 has been exempted. *2 Market growth: Grew 6.8% year over year in 2023. “Advertising Expenditure Forecast 2023” published in July 2023 by NIKKEI Advertising Research Institute. 5.2% 19.7% 18.7% 10.2% indicates the sales of MicroAd, Inc. 4. Internet Advertisement Business
  • 26. 62.2 66.6 64.3 63.3 67.3 72.7 64.3 64.9 76.5 80.6 81.8 82.2 87.8 97.0 99.5 92.3 95.6 100.2 105.4 104.0105.3 107.3 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 25 [Quarterly Sales] Billion Yen indicates the sales of MicroAd, Inc., which became a non-consolidated company. Q2 107.3 billion yen (up 7.1% YoY) Sales reached a new record, with its strength in maximizing advertising effectiveness. 4. Internet Advertisement Business
  • 27. 4.23 5.43 5.04 4.91 5.66 6.72 4.74 4.52 5.70 7.23 5.20 4.99 5.74 7.47 6.19 5.05 5.00 4.93 3.87 4.50 5.66 5.90 6.8% 8.2% 7.8% 7.8% 8.4% 9.2% 7.4% 7.0% 7.5% 9.0% 6.4% 6.1% 6.5% 7.7% 6.2% 5.5% 5.2% 4.9% 3.7% 4.3% 5.4%5.5% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 OP OP Margin 26 [Quarterly OP] Billion Yen *Quarterly OP and OPM: Special incentives in FY2020 and FY2021 are excluded. OPM bottomed out in the third quarter of FY2023 and grew for the third quarter in a row. Q2 5.9 billion yen (up 19.6% YoY) 4. Internet Advertisement Business
  • 28. Maximize Advertising Effectiveness 27 × Technological Capability <AI> <Creative> FUTURE EVENT Operation Capability [Competitive Advantage] CyberAgent brings high advertising effectiveness through operation and technological capability utilizing AI. Digital Twin Label CG・Voice Communication AI 4. Internet Advertisement Business Sept. 2023 Sept. 2023 KIWAMI Odaiba Studio
  • 29. 28 Academia-Industry partnerships University of Osaka Kyoto University Tokyo Institute of Technology Hanjuku Virtual Co., Ltd. Tohoku University Waseda University Keio University Tokyo Metropolitan University Kwansei Gakuin University Ritsumeikan University University of Tsukuba Kyushu University about 25 institutions Applying research outputs to business [Technological Capability] AI Lab, an AI R&D organization, was established in 2016 and ranked 4th in Japan and 49th in the world among the top 100 companies* leading AI research in 2022. ※ AI Research Ranking 2022 Thundermark Capital (Revised in February 2023) Publication of research papers 4. Internet Advertisement Business Ranking of AI Companies in Japan 1st place : NTT 2nd place : NEC 3rd place : Fujitsu 4th place : CyberAgent 95 papers were accepted at top conferences in 2023. (approx. 50 papers in 2022)
  • 30. KIWAMI Prediction TD KIWAMI Prediction Trimming KIWAMI Prediction AI KIWAMI Prediction AI Human KIWAMI Prediction LED KIWAMI Prediction LP 29 Released in May 2020 [Technological Capability] We utilize in-house AI products to achieve high-volume creative production and rapid operations in a shorter time. AI produces highly effective ad creative. more than 80% of our advertisers*1 introduced it. AI automates creating text ads. more than 80% of our advertisers*1 introduced it. Released in May 2020 Released in October 2020 More than 600 successful AI- generated models*2 has been used in ads. Released in January 2021 AI predicts the ad effectiveness of shot video and still images in real-time. Released in June 2021 AI generates a batch of images with high predicted CTR*3 values for each search term. Released in June 2021 AI creates landing pages*4 with high predicted ad effectiveness values. *1 Advertisers: Advertisers who run display ads and search ads and can implement AI-driven products. *2 As of June 2021 *3 CTR : Click Through Rate, A ratio of clicks on the number of times your ad was viewed. *4 Landing page : The first page that a user accesses via a search-based advertisement. 4. Internet Advertisement Business
  • 31. 30 *1 NVIDIA: a technology company based in Santa Clara, California *2 GPU: Graphics Processing Unit ※2 4. Internet Advertisement Business [Technological Capability] CyberAgent is partnering with NVIDIA*1 from 2022 to facilitate larger-scale and faster AI development. 80 NVIDIA H100 Tensor Core GPUs have been installed to adapt large-scale AI development *2
  • 32. 31 [Technological Capability] AI lab released a Japanese large language model (LLM) to the public in May, and version 2 in November 2023. CyberAgent Released Japanese LLM with up to 6.8 Billion Parameters The Model Trained with Open Data | Commercial Use Available 4. Internet Advertisement Business CyberAgent Released Japanese LLM Ver.2 Up to 32,000 Tokens | Commercial Use Available
  • 33. 32 We are improving our productivity by using technologies such as generative AI. [Technological Advantage] 2023年11月 March 2024 Use AI and LLM to promote business development and operational efficiency Ad creative tools with generative AI “Kiwami Prediction Series” “Kiwami AI Odaiba Studio” Film studio equipped with AI and CG technologies CyberAgentLM CyberAgentLM2 KIWAMI Prediction communication AI New ad creative tool to help communication around ad creative. Japanese language models developed by CyberAgent 7 billion parameters 6.8 billion parameters 4. Internet Advertisement Business
  • 34. 33 We are expanding DX business to a wide range of industries by utilizing our extensive knowledge and technical capabilities. 4. Internet Advertisement Business [Upfront Investment] Expertise and technical capability in the digital field A dedicated team with over 300 staffs Research & development capability of AI Our capabilities in DX business Advertising Creating a new advertising business which utilizes data DX Direct Business Center DX Support Support for digital services from strategy formulation to development and service growth Supporting the introduction of online doctor visits and medication guidance. Healthcare
  • 35. 34 Create advertising business utilizing data Partner Companies ¥1.5T(E) Market Size Estimate in Retail 1% [Focus Area] We focus on industries that have unique data and developing collaborations with them. Advertising Business*1 *1 Advertising Business: Estimated by CyberAgent based on the US market. *2 Commercial Sales Value: the “Current Survey of Commerce 2022,” Ministry of Economy, Trade and Industry Commercial Sales Value ¥154T 4. Internet Advertisement Business Mobility Finance Telcom Retail
  • 36. 35 Developing retail media 4. Internet Advertisement Business [Upfront Investment] We promote various DX business in retail companies. Producing new advertising platforms that leverages purchasing data, physical stores, and e-commerce websites owned by retailers. • Developing and growing an original app • E-commerce marketing • Developing humanless stores • Turn retail stores into media • Support advertisers • Remote customer service by robots
  • 37. 36 https://www.cyberagent.co.jp/en/way/list/detail/id=28055 4. Internet Advertisement Business [Video] CyberAgent Delivers DX for Partners with "Technology" and "Implementation Capability“ is available on CyberAgent IR Channel.
  • 38. z 37 DX business* is moving into growth and then maturity stage. Upfront Investment Stage FY2023 30partner companies FY2024 FY2025 [Future Expectations] 4. Internet Advertisement Business Growth Stage Maturity Stage *DX business: to help industries such as retail, finance, mobility, and telecoms to develop new ways to advertise.
  • 39. 38 New service and partnership are released in the DX business. [Future Plans] *DX business: to help industries such as retail, finance, mobility, and telecoms to develop new ways to advertise. November 2023 January 2024 ANA X and CyberAgent to Launch Digital Ad Distribution Service “ANA Moment Ads” Strategic Business Alliance Agreement on Marketing Platform Business 4. Internet Advertisement Business
  • 40. [Competitive Advantage] Adaptability to change in response to the external situation Operation capability to realize high advertising effectiveness Cutting-edge technology using AI and other technologies 1 2 3 39 4. Internet Advertisement Business
  • 42. 0 0.05 0.1 0.15 0.2 0.25 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Online game platforms Video game hardware Video game software 41 [Game Market in Japan] The gaming population, which increased due to demand from people staying at home during the coronavirus pandemic, has become established.Expand to 2 trillion yen scale. 5. Game Business Trillion yen (Predicted value) * Kadokawa ASCII Research Institute "Famitsu Mobile Game White Paper 2023" (published in March 2023) Collection period: December 31, 2012 - December 25, 2022
  • 43. 42 [The structure of the game business] 9 subsidiaries in the game segment 5. Game Business
  • 44. 26.0 30.3 96.4 60.5 22.7 FY2019 FY2020 FY2021 FY2022 FY2023 152.2 155.8 262.7 228.3 179.1 FY2019 FY2020 FY2021 FY2022 FY2023 [Full Year Sales] [Full Year OP] 43 179.1 billion yen (Down 21.6% YoY) 22.7 billion yen (Down 62.5% YoY) Billion yen Billion yen Sales decreased due to slowdown of the successful game released in FY 2021 and others. New title will be released in September. OP declined due to lower sales of the most profitable titles. 5. Game Business
  • 45. 36.3 39.9 38.2 37.7 35.2 44.8 36.7 39.0 29.9 63.9 92.3 76.4 58.3 69.0 46.2 54.8 40.9 62.1 33.7 42.3 45.0 67.1 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 44 [Quarterly Sales] Q2 67.1 billion yen (up 8.1% YoY) (up 49.1% QoQ) Billion Yen A successful new game title and the anniversary events of major titles contributed to increase sales. 5. Game Business
  • 46. 5.1 10.4 7.5 7.4 1.1 23.2 28.1 17.1 21.3 9.8 12.1 5.2 15.2 2.4 3.4 18.2 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY2020 FY2021 FY2022 FY2023 FY2024 45 [Quarterly OP] Q2 18.2 billion yen (up 19.8% YoY) (up 421.2% QoQ ) *Quarterly OP : Special incentives in FY2020 and FY2021 are excluded. Billion Yen 44.2 -0.1 OP grew compared to the same quarter of the previous year. 5. Game Business
  • 47. 46 *1 © Cygames, Inc. *2 Number of units sold overseas as of April 3, 2024. RPG [New Game] Granblue Fantasy: Relink was released in February 2024 and sold one million units eleven days after the launch. 80% of the purchase come from overseas. It aims to be successful worldwide. Physical Version Standard Edition ¥8,778 (tax incl.) Deluxe Edition ¥14,300 (tax incl.) Collector’s Edition ¥27,500 (tax incl.) Standard Edition ¥8,778 (tax incl.) Digital Version Special Edition ¥11,700 (tax incl.) Digital Deluxe Edition ¥13,860 (tax incl.) *Available only on PS5®/PS4® 5. Game Business
  • 48. 47 *1 © Cygames, Inc. *2 Event period:February 14 - March 30, 2024 *3 © Cygames, Inc. *4 © 2024 Theater version“UMA MUSUME Pretty Derby: The Door to a New Era” Production Committee Public Release: May 2024 *5 Tokyo : Feb 3-4,2024 in Ariake Arena, Osaka :Mar 22-23,2024 in Osaka Castle Hall Strengthen the multimedia franchise beyond a mobile game, making the IP long-term over ten years. [Uma Musume Pretty Derby*1] Game Mobile Merchandise Other Media Console Partnership Brand collaboration Music streaming Comics Anime Movie Physical Event event Products 3rd anniversary*2 released in 2024 *3 The 5th event GO BEYOND arena tour *5 Released in May 2024 *4 Aims to create long-term IP 5. Game Business
  • 49. 48 RPG New games will keep coming from FY2024 onward. Gakuen iDOLM@STER is scheduled to be released in spring 2024. [Upcoming games*] Owned IP NEW confidential confidential Third Party IP Future Plans confidential Released 1. Mobile - Dec.2022 2. Mobile - Sep.2023 Copyrights are stated on the last page. 3. Console - Dec.2023 5. Mobile - Nov.2023 6. Console - Feb.2024 4. Console - Feb.2024 7. Mobile / PC - Summer 2024 9. Mobile Release date TBD 10. Console - Release date TBD 11. Console - Release date TBD 12. Mobile Release date TBD 13. Mobile Release date TBD 6. Mobile – Spring 2024 8 .Console - By the end of 2024 FY2024 FY2023 5. Game Business
  • 50. 49 [Competitive Advantage] Collaborative work among subsidiaries Released in Mar.2014 Released in Feb.2021 Released in Sep.2020 Released in Sep.2023 Released in Nov.2023 Released in Jun.2016 Third Party IP 1. Granblue Fantasy 3. UMA MUSUME Pretty Derby 4. Project SEKAI Colorful Stage! Feat.Hatsune Miku 2.Shadowverse 5.FINAL FANTASY VII EVER CRISIS 6. Jujutsu Kaisen Phantom Parade Owned IP Owned IP Owned IP Third Party IP Third Party IP Copyrights are stated on the last page. Major titles 5. Game Business
  • 51. 50 [Competitive Advantage] Face Scanner Body Scanner Motion Capture Studio Sound Studio Possesses a complete development environment. 5. Game Business
  • 52. Creative appeal and technological capabilities to increase success rate of new game titles [Competitive Advantage] Extending the lifespan of game titles by leveraging operational skills and making them viral 51 5. Game Business ① ②
  • 54. -16.8 -18.2 -15.1 -12.4 -11.5 FY2019 FY2020 FY2021 FY2022 FY2023 46.5 57.0 82.8 112.1 141.1 FY2019 FY2020 FY2021 FY2022 FY2023 [Full Year Sales] 53 6. Media Business [Full Year OP] Strong ABEMA related sales led to sales growth. 141.1 billion yen (up 25.9% YoY) Operation Loss 11.5 billion yen (0.8 billion yen loss reduction YoY ) Billion Yen Billion Yen Loss improved despite the large investment.
  • 55. 12.2 13.8 13.3 17.6 20.4 19.8 19.9 22.6 24.9 27.3 29.5 30.2 33.4 33.4 33.3 40.8 42.742.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY2020 FY2021 FY2022 FY2023 FY2024 54 [Quarterly Sales] [Quarterly OP] OP turned profitable for the first time since investment in ABEMA began. Q2 0.16 billion yen (0.7 billion yen loss reduction YoY ) ABEMA-related business was strong. Q2 42.0 billion yen (up 25.8% YoY) Billion Yen *1 Q1 FY2023:The expenses related to FIFA World Cup Qatar 2022 are recorded. *2 Quarterly OP: Special incentives in FY2020 and FY2021 are excluded. Billion Yen -5.0 -4.2 -4.0 -4.6 -3.9 -3.4 -3.8 -3.5 -3.8 -1.9 -3.9 -2.6 -0.5 -1.5 -0.9 0.1 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY2020 FY2021 FY2022 FY2023 FY2024 -9.3 -0.06 6. Media Business
  • 56. April 11, 2016 Official launch 55 AbemaTV, Inc.* has established as a joint venture between CyberAgent, Inc. and TV Asahi corporation. [ABEMA] *AbemaTV, Inc. announced the issuance of new shares to Dentsu Inc. and Hakuhodo DY Media Partners Inc. through a third-party allocation on October 31, 2018. Shareholding Ratio after TPA: CyberAgent, Inc. 55.2%; TV Asahi Corporation 36.8%; Dentsu Inc. 5.0%; Hakuhodo DY Media Partners Inc. 3.0% 6. Media Business
  • 57. 56 ©AbemaTV, Inc. [ABEMA] ACCESSIBILITY Available for everyone Shares real-time events by live streaming Starts a trend in Japan Brings the latest news Not bound by time or place FREE LIVE TREND NEWS The features of the new future television, ”ABEMA" 6. Media Business
  • 58. 57 ©AbemaTV, Inc. [ABEMA] ABEMA provides 24/7 broadcast with approx. over 25 channels. 6. Media Business NEW NEW NEW NEW NEW Multiple device support and diverse channels.
  • 59. 58 *1 Compatible TVdevices: as of 2023 (The compatibility differs from model to model. *2 Amazon FireTVSeries: include Fire Stick, Fire TVStick 4KMax, Fire TVCube, and others. ©AbemaTV, Inc. Amazon FireTV Series *2 Compatible TV devices *1 [ABEMA] ABEMA is compatible with various devices. Major TV devices have an “ABEMA button” on their remote controllers. The “ABEMA button” is installed on the Amazon Fire TV series remote controller. 6. Media Business
  • 60. ©AbemaTV, Inc.59 Multi-camera Angles Device Compatibility Time Shift Replay On-demand Replay Comment Feature Original Website for FIFA World Cup Qatar 2022 The Value of ABEMA as a medium has considerably increased. Game Data [ABEMA] ABEMA brought a new viewing experience for the FIFA World Cup Qatar 2022 broadcast. 6. Media Business
  • 61. 60 [ABEMA] *1 WAU: Weekly Active Users *2 23.64 WAU are recorded in the week of April 1, 2024. The year-on-year comparison is made with the week of April 3, 2023. ©AbemaTV, Inc. WAU grew 1.2 times year-on-year to 23.64 million, driven by high profile content such as MLB. Growth of WAU*1 20 million 15 million 10 million 5 million 23.64million WAU*2 6. Media Business
  • 62. 61 [ABEMA] *1 ABEMA de DAZN was launched on February 23, 2024. Subscription fee: ¥4,200/month (tax incl.), ¥32,000/year (tax incl.) *2 ABEMA de WOWSPO was launched on April 2, 2024. Subscription fee: ¥1,980/month (tax incl.) ©AbemaTV, Inc. ABEMA partners with DAZN*1 and WOWSPO*2 to provide more sports content on ABEMA. 61 ABEMA de DAZN*1 was launched in February 2024. ABEMA de WOWSPO*2 was launched in April 2024. ABEMA ABEMA de DAZN ABEMA de WOWSPO 6. Media Business
  • 63. Mar. 2024 PC 13% Smart Phone 66% TV 17% Tablet 5% 62 Viewing Device Composition The proportion of viewing on large screens is increasing. On-demand 48% Linear 52% On-demand viewing and linear viewing are almost equal now. Time Spent by Linear vs. On-demand [ABEMA] 6. Media Business Mar. 2024
  • 64. 63 Teenagers 13% Age 20-34 33% Age 35+ 54% Female 32% Male 68% Users' ages are varied. Male users accounted for more than 60%, reflecting the increase in sports content. [ABEMA] Users by Age Group Users by Gender 6. Media Business Mar. 2024 Mar. 2024
  • 65. 3.9 4.7 4.5 7.9 10.3 10.4 10.5 13.3 15.2 16.9 19.0 19.0 21.7 21.3 21.1 23.5 25.8 26.2 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY2020 FY2021 FY2022 FY2023 FY2024 64 [Sales of ABEMA & Related Businesses] Q2 26.2 billion yen (up 22.6% YoY) Monthly Subscription Related Businesses PPV Ads Billion Yen Advertising sales and ABEMA-related business are growing. 6. Media Business
  • 66. ①Ads for Connected TVs 65 Sponsored Contents Demographic GEO-Demographic Link with TV Commercials Exclusive distribution on the first view area of the home screen of ABEMA. Ad contents integrated with ABEMA's original popular programs. ③Audience Targeting ②Programming Targeting Premium Ads – Direct Buying Model- Brand Lift Survey Measure App Installs Measure Website Traffic Ad Distribution Ad Effectiveness Measurement ©AbemaTV, Inc. Programmatic Ads - CPM Pricing Model - [Ad Products of ABEMA] ABEMA focuses on performance advertising. 6. Media Business
  • 67. 66 *:Some contents are excluded. Ad-free* Time-shifting Replay Download Available Unlimited Contents ©AbemaTV, Inc. [Subscription Plan of ABEMA] ABEMA offers various features and benefits for 960 yen a month. Discount Contents on the PPV Store Comments Available after Live Streaming 6. Media Business
  • 68. [ABEMA PPV] 6 features available on “ABEMA PPV ONLINE LIVE“ 67 ©AbemaTV, Inc. 5. Time-shifting replay 4. Comment 2. Time shift playback 3. Shopping BUY 6. Multi-device compatibility 1. 3D live virtual concert 6. Media Business
  • 69. 68 [ABEMA Related Businesses] Winticket has the No.1 share of the Internet bicycle race voting service. Live Stream of Races Predictions Using AI Extensive Database Keirin Shows on ABEMA 6. Media Business
  • 70. 69 ©AbemaTV, Inc. ABEMA ABEMA Related Businesses Public Sports Entertainment Entertainment Business Unit Ads Subscription NEW NEW [Business Overview] Expand the business around ABEMA to improve monetization. Production PPV 6. Media Business Commerce IP Anime Business Unit
  • 71. 70 [BABEL LABEL] *1 Netflix original movie “The Parades” ranked No. 1 in the weekly movie ranking on Netflix Japan in the week of March4 and11, 2024. *2 Release Date:March 14 in Taiwan, April 4 in Hong Kong, April 10 in Singapore, April 10 in Malaysia, April 12 in Vietnam, May 8 in Cambodia, May 20 in Mainland China, May 22 in Korea, The Parades ranked No. 1 in the weekly movie ranking on Netflix Japan for two consecutive weeks. The new movie 18x2 Beyond youthful Days was No. 1 at the box office on its first day in Taiwan. More than 600,000 people in the Asian region watched the movie. Netflix Japan weekly movie ranking No. 1*1 Feb.2024 Worldwide release No. 1 at the box office on its first day in Taiwan May 3, 2024 Release in Japan Exclusively streaming on Netflix. © 2024 18x2 Beyond youthful Days Film Partners 6. Media Business
  • 72. Technological capabilities to realize stable streaming 1 Production capabilities to deliver high quality content 2 Creativity to develop new business and new features 3 71 [Competitive Advantage] 6. Media Business
  • 73. Medium to Long-Term Strategy 7. Medium to Long-Term Strategy 72
  • 74. 73 7. Medium to Long-Term Strategy Ad Media Game With FY2023 OP at the bottom, we are committed to increasing sales and profits. Make ABEMA a social infrastructure that can connect anytime, anywhere. Aim to be profitable by enhancing monetization. Take market share with the capability to maximize advertising effectiveness. Working to commercialize AI and DX related business to improve OP margin. Create high-quality new games. Make Game business stable by extending lifespan of released games.
  • 75. 8.Dividend and Management Index Dividend and Management Index 74
  • 76. 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 20002001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 FY2019 FY2020 FY2021 FY2022 FY2023 75 * CyberAgent Inc. vs Nikkei Stock Average (Nikkei 225): Transition of stock price of CyberAgent vs Nikkei stock average. Stock Price of CyberAgent vs Nikkei Stock Average* Total dividend Amount [Return to Shareholders] CyberAgent Nikkei Stock Average 4.1 5.5 We aim to increase stock price over the medium to long-term and pay dividend continually. 4.2 Billion yen (X) 8.Dividend and Management Index 7.0 7.5
  • 77. 245.2% 64.9% 13.4% 29.2% 142.5% FY2019 FY2020 FY2021 FY2022 FY2023 5.2% 5.1% 5.1% 5.2% 5.3% FY2019 FY2020 FY2021 FY2022 FY2023 5.3 % × ROE DOE Dividend Payout Ratio = 株主への経営指標は? 76 We adopted “DOE* 5% or more” as management index to maintain shareholder returns through dividends or share buybacks, etc. during the investment phase. [Management Index] *DOE: Dividend on Equity (ROE x Dividend Payout Ratio) Nikkei Average 3.0% E 8.Dividend and Management Index 2.1% 7.8% 38.1% 17.7% 3.7% FY2019 FY2020 FY2021 FY2022 FY2023 3.7% 142.5 %
  • 78. 0 500 1,000 1,500 2,000 2,500 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 77 Share price [unit: yen] [Acquisition of treasury stock] Purchased and retired treasury stocks 4 times. Changes in stock prices 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 8.Dividend and Management Index
  • 80. 79 Board of Directors Four executive directors include a female director 本体役員室 常務執行役員 9. Reference_ Governance 50% of the board are outside directors. The number of executive officers increased in FY2023. The female-to-male ratio is 18.2% in senior management*. Corporate Executive Office Managing Executive Officers Executive Officers Four outside directors Eight executive directors who are higher than senior managing executive officers ※New management team has introduced in FY2021.
  • 81. 80 Outside Directors [Directors] 9. Reference_ Governance Eight directors include three Audit and Supervisory Committee members. Seven male directors and a female director, of which four are outside directors. Susumu Fujita Representative Director Yusuke Hidaka Director Go Nakayama Director Koichi Nakamura Outside Director Kozo Takaoka Outside Director Female Members of Audit and Supervisory Committee Toko Shiotsuki Director Standing member of Audit and Supervisory Committee Tomomi Nakamura Outside Director Masao Horiuchi Outside Director Outside Outside Outside
  • 82. 81 9. Reference_ Governance [Executive officers] Female Corporate Executive Office
  • 83. 82 9. Reference_ Governance [Executive officers] Female Female Female Female Managing Executive Officers Corporate Officers
  • 84. CyberAgent is added to Nikkei 225 in October 2018, being part of 13 indexes in total, including ESG indexes. 83 [Inclusions] 9. Reference_ Index Inclusions Nikkei 225 Nikkei Stock Index 300 Nikkei 500 Stock Average Nikkei 225 Climate Change 1.5℃ Target Index The JPX-Nikkei Index 400 Japan New Economy Index FTSE All-World Index FTSE JAPAN Index S&P/JPX Carbon Efficient Index JPX Prime 150 Index ESG MSCI Japan Empowering Women Select Index Morningstar Japan ex-REIT Gender Diversity Tilt Index MSCI Japan Empowering Women Index (WIN) ESG ESG ESG ESG
  • 85. Aiming to be a company with medium to long-term supporters 84
  • 86. 85 Click!! Integrated Report CyberAgent Way 2023 In the 2023 edition, we will explain the competitive advantages and growth strategies of our three main businesses through interviews with 11 executive officers: the media business centered around ABEMA, which marked its 7th anniversary, the internet advertising business that generates about half of our consolidated revenues, and the game business that has succeeded in producing many hit titles. https://www.cyberagent.co.jp/en/ir/library/annual/ Integrated Report CyberAgent Way 2023
  • 87. 86 1 Tokyo Revengers Pazuribe! The Road to Supremacy : Ken Wakui, Kodansha/ Anime “Tokyo Revengers” Production Committie 2 FINAL FANTASY VII EVER CRISIS :© SQUARE ENIX Powered by Applibot, Inc. Character Design: TETSUYA NOMURA / Character Illustration: LISA FUJISE 3 Granblue Fantasy Versus: Rising : © Cygames, Inc. Developed by ARC SYSTEM WORKS 4 Granblue Fantasy: Relink: © Cygames, Inc. 5 Jujutsu Kaisen Phantom Parade:© Gege Akutami/ Shueisha, Jujutsu Kaisen Production Committee © Sumzap, Inc./TOHO CO., LTD. 6 Gakuen iDOLM@STER : THE IDOLM@STER & ©Bandai Namco Entertainment Inc. 7 Shadowverse: Worlds Beyond: © Cygames, Inc. 8 Umamusume: Pretty Derby –Party Dash : © Cygames, Inc. 10 GARNET ARENA: Mages of Magicary : © Cygames, Inc. 11 Project Awakening : © Cygames, Inc. *Games #9,12, and 13 are to be disclosed. Copyrights of Game Business Page 48 Copyrights of Game Business Page 49 1 © Cygames, Inc. 2 © Cygames, Inc. 3 © Cygames, Inc. 4 © SEGA / © Colorful Palette Inc. / © Crypton Future Media, INC. www.piapro.net All rights reserved. 5 © SQUARE ENIX Powered by Applibot, Inc. CHARACTER DESIGN: TETSUYA NOMURA / CHARACTER ILLUSTRATION: LISA FUJISE 6 ©Gege Akutami/ Shueisha, Jujutsu KaisenProduction Committee © Sumzap, Inc./TOHO CO., LTD.