Kakaku com : Summary of Analyst Meeting for the Third Quarter of the Fiscal Year ending March 31, 2023

F Y 2 0 2 3 / 3 T h i r d Q u a r t e r

Results Briefing

2023.02.02

Kakaku.com, Inc. Securities Code: 2371

© 2023 Kakaku.com, Inc.

Hello, I am Shonosuke Hata from Kakaku.com, Inc. Thank you for joining us today for our Q3 financial results presentation.

1

1. Operating Results

2. Operating Results and Progress by Business

3. Initiatives Going Forward

4. Appendix

© 2023 Kakaku.com, Inc.

2

2

Operating Results

	FY22/3			FY23/3			Forecast	Progress
	Q3	9 months		Q3		9 months
(Unit: million yen)		YoY	YoY
Revenue	14,053	37,935		16,321	+16.1%	44,561	+17.5%	64,500	69.1%
Operating Profit	5,662	13,782		7,020	+24.0%	17,927	+30.1%	25,900	69.2%
OP Margin	40.3%	36.3%		43.0	+2.7pt	40.2	+3.6pt	40.2%	-
Profit Before	6,786	14,813		7,045	+3.8%	18,375	+24.0%	25,800	71.2%
Income Taxes
Profit Attributable				4,791	+2.5%	12,837	+22.9%
to Owners of the	4,673	10,448		17,600	72.9%
Parent Company
									© 2023 Kakaku.com, Inc. 3

First, please turn to page three of our presentation material, for our consolidated operating results. In Q3, revenue was 16.321 billion yen, up 16.1% from last year. Operating profit was 7.02 billion yen, up 24% from last year, and operating profit margin was 43%. Profit before income taxes was 7.045 billion yen, up 3.8% from last year. Net income was 4.791 billion yen, up 2.5% from the previous year.

Next, the cumulative total for the first nine months of the fiscal year. Revenue was 44.561 billion yen, up 17.5% from last year. Operating profit was 17.927 billion yen, up 30.1% from last year and operating profit margin was 40.2%. Income before income taxes was 18.375 billion yen, up 24% from the previous year. Net income was 12.837 billion yen, up 22.9% from the previous year.

Compared to the full-year forecast shown on the far right, the progress rate for the first 9 months is 69.1% for revenue, 69.2% for operating profit, 71.2% for profit before income taxes, and 72.9% for profit attributable to owners of the parent company.

3

Operating Results by Business

(Unit: million yen)

Sales ratio

		16,023								16,321
			13,309			14,053	13,787	14,015	14,225	4,960
	12,243	5,933	12,021	11,861
					4,686
9,502						5,320	5,566	4,957
		6,130
5,474		5,417	5,114
							6,291
5,958		7,371				5,308	4,253	5,373	5,448
	4,187		3,565
	4,493		3,754
1,735		2,718	2,991	2,850	3,182	3,426	3,968	3,685	4,091	5,070
1,809	2,277
Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3
	FY21/3			FY22/3			FY23/3

		Kakaku.com	62.7%	44.7%	37.0%	46.1%	45.1%	43.1%	37.9%	40.4%	35.4%	32.9%	30.4%
		Tabelog	18.3%	36.7%	46.0%	31.5%	31.2%	30.1%	37.8%	30.8%	38.3%	38.3%	38.5%
		New Media and	19.0%	18.6%	17.0%	22.5%	23.7%	26.8%	24.4%	28.8%	26.3%	28.8%	31.1%
		Solutions/Finance*

There was a change in estimates related to revenue recognition for certain life insurance agency commissions in the finance business. Please refer to page 23 for details.

There is no change to the consolidated earnings forecast for the full year announced in the "Consolidated Earnings Report for the Fiscal Year Ended March 31, 2022" on May 11, 2022.

© 2023 Kakaku.com, Inc.

4

Next, we have the sales composition by business. Please refer to the graph on page four.

I will talk about each of these businesses later on, but as a percentage of total sales, Kakaku.com accounted for 30.4%, Tabelog for 38.5%, and New Media and Solutions/ Finance was 31.1%.

4

Quarterly Consolidated Operating Expenses

In advertising expenses, T-point related costs in the Tabelog business as well as costs related to advertising for Kakaku.com's Service Business and Kyujin Box increased.

In commissions, agency commissions for the Tabelog business increased.

(Unit: million yen)	9,462											9,311
		2,189	8,523		8,016	7,776	8,398	8,428	8,646	8,693
7,317	7,599									2,137
2,000				1,694		1,839	1,785
				1,543		2,047
	1,463				1,482
											Advertising
1,601
	2,095										1,960	2,128	Commissions
		1,711			1,661	1,610	1,951	1,735	1,900
	1,729					Outsourcing
1,233
												Depreciation
	1,290									842	923	910
760	794	830			813	863	856	916
		Rent
466	484			492	464	474	492
449	450			461	463	456	Personnel Expenses
373	375			357	351	354	356	363
344	360				352	350				Impairment Loss
2,452	2,498	2,452	2,421			2,656	2,645	2,610	2,573	2,802	2,822	2,830	Other
				Server maintenance 15m yen
				181										Recruiting 66m yen
		596
478	307	521			494	362	473	351	444	374	452
Q1	Q2	Q3		Q4		Q1	Q2	Q3	Q4	Q1	Q2	Q3
	FY21/3						FY22/3			FY23/3

© 2023 Kakaku.com, Inc.

5

Before moving on to the operating results by business, here is a breakdown of consolidated operating expenses and other items.

In advertising expenses, expenses related to T-points increased in connection with the progress of Tabelog, and expenses related to advertisements for Kakaku.com's service business and Kyujin Box increased along with sales growth. As for commissions, agency commissions for Tabelog have increased.

There were hardly any special factors in Q3, and the composition is almost the same as in previous years.

5