Financial Results for the 2nd Quarter
Year Ending June 30, 2013 (FY14)First Section, Tokyo Stock Exchange (3730)

Financial Results

1Overview of Second Quarter Results
for the Year Ending June 2013
 Double-digit growth in both net sales and ordinary income resulted in record earnings,
achieving our performance target.
(Million yen)
2nd quarter (cumulative)(Jul 1 – Dec 31)
FY2013/6

FY2012/6

Results forecast for the
first half (Jul 1 – Dec 31)
YoY(% achieved)

Consolidated
Non-Consolidated

Net sales

8,362

6,802

122.9%

8,200

102.0%

Ordinary income

1,932

1,577

122.5%

1,930

100.1%

23.1%

23.2%

-0.1 pt––

Net income

1,262

799

157.9%

1,000

126.2%Net sales

7,437

6,760

110.0%

Ordinary income

1,909

1,851

103.1%

25.7％

27.4%

-1.7 pt

1,230

1,040

118.2%

Ordinary income rate

Ordinary income rate

Net income2Topics
Domestic The domestic marketing research business expanded
steadily.
 P. 6 ~ P. 8

Overseas Rapid realization of integration effects:
The performance of the subsidiary in South Korea,
MACROMILL EMBRAIN has improved.
 P. 93

Full
Full--Year Results Forecast
for the Year Ending June 2013
 The full-year results forecast includes net sales of 16.8 billion yen and ordinary incomeof 3.9 billion yen (on a consolidated basis).

(Million yen)

Full-year(Jul 1 – Jun 30)
Forecast for
FY2013/6

Results for
FY2012/6

YoY% achievement

Consolidated

Net sales

16,80014,229118.1%

49.8%

Ordinary income

3,900

2,975

131.1%

49.5%

23.2%

20.9%

+2.3pt

―

2,100

1,525

137.6%

60.1%

Net sales

15,10013,847109.0%

49.3%

Ordinary income

3,800

3,644

104.3%

50.2%

25.0%

26.3%

-1.3pt

―

2,200

1,751

125.6

55.9%

Ordinary income rate

Net income* For reference
Non-Consolidated

Ordinary income rate

Net income

4

MACROMILL Strategy Map

Research
DomainDatabase
DomainOverseas
Business
DomainNew
Business
Domain5Changes in Income and Cost Structure

Research
Domain(2Q cumulative)
 Improving differences of non-consolidated and consolidated ordinary
income as a result of the profit contribution from the subsidiary in South
Korea and a re-assessment of the earnings structures of subsidiaries.
Nonconsolidated

2Q (cumulative)of FY2013/6

2Q (cumulative)of FY2012/6

AmountAmount

%

7,437

100.0

6,760

100.0

Cost of sales

3,795

51.0

3,189

47.2

1,045

14.1

874

12.9

2,195

29.5

1,785

26.4

553

7.4

529

7,8

1,818

24.5

1,714

25.4

Personnel

988

13.3

1,044

15.5

Other

830

11.2

669

9.9

Panelists andoutsourcing
Other

SG&A

Ordinary income

1,909(Consolidated
ordinary income)

1,932

Net income

1,230

25.7

1,851

1,040

(Million yen)

1,909
1,851

FY2012/6
2Q

Non
Non--Consolidated
27.4 Ordinary Income

1,577
16.5

New
Business
Domain%Net sales

Personnel

Database
DomainOverseas
Business
Domain

27.4%
15.4

1,932
+23

+58

2013/62Q

2013/6
2Q

Non
Non--Consolidated
Ordinary Income

Consolidated
Ordinary Income

25.7%

23.1%
6

Breakdown of Sales by Category

Research
Domain(non(non-consolidated)
Database
DomainOverseas
Business
DomainNew
Business
Domain Sales from food & drink and IT/telecommunications, and other generalcompanies remained strong.

Industries to whichsales increased(%)¥7,437M¥6,760M

2.5
2.6(Year-on-year change in sales amount)

1. Research companies/
consulting firms

Advertising agencies

64.3

67.0

Researchcompanies, consulting firms
General companies

Government
agencies, associations, schools,etc.

+31.2%+¥310M

2. Food & drink
15.2

18.1

17.9

12.4

1st half of
FY2012/6

1st half of
FY2013/6+23.9%+¥240M

3. IT/ telecommunications+24.2%+¥150M7

Breakdown of Changes by Service

Research
Domain(non(non-consolidated)
Database
Domain Increased sales in almost all services, especially in the following: QPR Service
 Global Research Qualitative ResearchService+43.3% year on year
+38.3% year on year
+21.4% year on year
2Q (cumulative)of FY2013/6

2Q (cumulative)of FY2012/6%

Overseas
Business
DomainNew
Business
Domain(Million yen)
%

YoY

3,887

52.3

3,661

54.2

106.2%

Tabulation

464

6.2

425

6.3

109.1%

Analysis

751

10.1

633

9.4

118.6%

Qualitative research

695

9.4

572

8.5

121.4%

Customized research

667

9.0

694

10.3

96.0%

Global research

315

4.2

227

3.4

138.3%

QPR

455

6.1

317

4.7

143.3%

Other services

200

2.7

226

3.3

88.7%

7,437

100.0

6,760

100.0

110.0%

Automatic research

Total* Changed the disclosure classification since the quarter under review. The quarterly year-on-year comparison has been adjusted to the new classification.
* Other Services include the mobile research service.

8

Overseas Business Domain (consolidated)(Million yen)First half First halfof FY2013 of FY2012
Research
DomainDatabase
DomainOverseas
Business
DomainNew
Business
DomainMACROMILL EMBRAIN(South Korea)

MACROMILLEMBRAIN(South Korea)

Macromill China(China)546

YoY

Net sales

800

Ordinary
income126

Net sales9615624.6%

Ordinary
income

-3

-74

―

(*)

―
(*)

146.5%―* Business results of Macromill EMBRAIN were incorporated
into consolidated results starting in April 2012 The introduction of the management control methods used by MACROMILL (such as strengthening sales
activity management) contributed to an increase in net sales of 800 million yen (146.5% year on year) and in
ordinary income of 126 million yen.
 The promotion of the services offered by the Company to Macromill customers was also strengthened.
Macromill China (China)
 Strong growth was achieved with net sales of 96 million yen (624.6% year on year), attributable to proposalbased sales activities that combine an automatic research service and a qualitative research service.
 Monthly earnings in September, October, and December showed surpluses.
9Future Business Plan

10

Business Development of the Macromill GroupJapan

Overseas

Existing domestic businesses

Global development

Domestic marketing research
Existing Business expansion thatdomainexceeds market growthIntegration and differentiation

New domestic domainNewdomainSeek longlong-term growththrough the expansion ofbusiness domains.

Expansion of business areasin view of M&A opportunities
Asia, North America, Europe

Aim for further expansion by
developing Macromill’s DNA
overseas and in new domains.
 Development not only in Asia but into
North America and Europe Enter the domestic promotion market

Promotion and research
11Approach for Existing Domestic BusinessResearch
DomainDatabase
DomainOverseas
Business
DomainNew
Business
DomainResearch

 Given more sophisticated customer needs, organization andcost structures will be reviewed to enable us to offer
competitive and integrated research services.

Database While focusing on expanding the QPR service, a full review of
new synergy product development (such as ID-POS) will be
undertaken.

12Approach for Overseas BusinessResearch
DomainDatabase
DomainOverseas
Business
DomainNew
Business
DomainSouth Korea

 Continue to focus on introducing the management control
methods used by Macromill to attain further performance
growth.  Aim at achieving an IPO
China The business foundation is solidifying, which is attributable toa change in strategy.
Seek to expand the business, including the marketingpromotion business (in cooperation with Shanghai UC).
North America

 Continue to aggressively seek M&A opportunities.
13

Approach for New Businesses (i) Readily accessible Marketing and Promotion Services
for a broader user base via smartphones

Research
DomainDatabase
DomainOverseas
Business
DomainNew
Business
DomainService overview
 Offer a long tail service based on an entirely
new concept.

Offer service throughapplications

Users

Promotion

New
serviceO2O Customer traffic

Stores andcompanies

Obtainmarketing data

 A promotion service that is readily accessible at
low cost

 A business model in which compensation
for a promotion service is received fromstores BtoBtoC model Steady progress in development initiatives
 To be released between the end of March and the
beginning of April, starting with an Android
version14

Approach for New Businesses (ii)(ii)
 A full review of potential DIY Research business in viewof the creation of a new market

Research
DomainDatabase
DomainOverseas
Business
DomainNew
Business
DomainWhat is DIY Research?
 DIY research refers to a type of research in which the customer itself prepares thequestionnaire (Do It Yourself) and distributes, and collects it from, its own panel members(Web members, etc.).
 Compared to conventional online research, DIY research may be conducted more easily
and in less time.
 The market for DIY Research has emerged in the U.S. The size of the global market for DIY
research is in the tens of billions of yen.
MR budget amount

Aim at supplementing andstrengthening the existing
marketing research business andcreating a new market

Existing
businesses

DIY business
Number of client 15

20122012-2014 Performance Targets(Announced previously - reposting)(Million yen)

FY2012/6(achieved)

FY2013/6(forecast)

FY2014/6(forecast)* After upward adjustment

Net sales (consolidated)

14,22916,80020,000Ordinary income

2,975

3,900

4,700

Ordinary income rate

20%

23%

24%

16

We aspire to become Japan’s largest andstrongest IT marketing company andone of the world’s most uniquecompanies.

17

Dividend Policy Determined that the interim dividend will be¥12 per share
25

Year-end dividends

20

44.4%

15

30.8%

10

8

5

6

Interim dividends

Consolidated payout ratio

49.4%
32.4%

9

9

7.5

7.5

43.7%
13

60%
13

50%

33.4%

40%
30%

9

20%
10

10

12

0

10%
0%

2008/6

2009/6

2010/6

2011/6

2012/6

2013/06(forecast)* Consolidated payout ratio for the current fiscal year is calculated, using the number of shares obtained by subtracting 3,016,600 sharesof treasury stock as of the end of December 2012 from 30,882,400 shares outstanding.
18

(Reference) Details of Financial Results
Second Quarter of theYear Ending June 30, 201319

Overview of Second Quarter Results
for the Year Ending June 2013
2nd quarter (standalone)(Oct 1 – Dec 31)
FY2013/6

FY2012/6

YoY

2nd quarter (cumulative)(Jul 1 – Dec 31)
FY2013/6

FY2012/6

YoY

Results forecast
for the first half
(Jul 1 – Dec 31)(% achieved)

Consolidated

Net sales

4,384

3,598

121.8%

8,362

6,802

122.9%

8,200

102.0%

Ordinary income

1,051

915

114.9%

1,932

1,577

122.5%

1,930

100.1%

24.0%

25.4%

-1.4 pt

23.1%

23.2%

-0.1 pt

–

–

613

456

134.4%

1,262

799

157.9%

1,000

126.2%

3,829

3,575

107.1%

7,437

6,760

110.0%

999

1,061

94.2%

1,909

1,851

103.1 %

26.1%

29.7%

-3.6 pt

25.7%

27.4%

-1.7 pt

685

582

117.7%

1,230

1,040

118.2%

Ordinary income rate

Net income* For reference
Non-Consolidated

Net sales
Ordinary income
Ordinary income rate

Net income

20Unit price, Number of Active Client Companies(servers) & VIP Clients
FY2011/6
Indicator

Unit

3Q

4Q
(Full-year)

FY2012/6
1Q

2Q

3Q

FY2013/6
4Q(Full-year)

1Q

2Q

¥ ten
Quarterly average unit pricethousand(*1)
per order

81.6

Quarterly average unit price¥ ten
per order (automatic research thousand

52.6

¥ ten
Quarterly average unit price(*1) thousand
per order (for reference)

85.2

Number of active client
Companies(*2)
companies (annual)
Number of active servers
Servers(*2)(annual)

1,465

only)

(*1)

4,290

(*3) Companies

295

Number of VIP clients with
Companies
average quarterly sales of(*4)¥10m or more

(90)

Number of VIP clients*1 The services of the former YVI were not included in the calculation of the average unit price for the year ended June 30, 2011. Orders for qualitative research were notincluded in the calculation of the quarterly average unit price per order (for reference). To calculate realistic unit prices, going forward, overall unit prices will be calculatedusing a method that counts qualitative research as one order, as shown in the top row above.
*2 Year-to-date total for each fiscal year; number of companies/servers that posted sales at least once between the beginning of the fiscal year and the end of the quarter.
*3 Year-to-date total for each fiscal year; priority clients with annual sales of ¥10 million or more are defined as VIP clients.
*4 Year-to-date total for each fiscal year

21

Status of Personnel
FY2011/6
Indicator

Unit

3Q

4Q
(Full-year)

FY2012/6
1Q

2Q

3Q

FY2013/6
4Q(Full-year)

1Q

2Q

Number of employees
People(consolidated)*

545

557

566

594

735

768

788

790

Number of employees
People(non-consolidated)*

528

542

541

550

560

582

567

579

* Number of employees includes contract employees and those on leave.

* 40 new graduates will join the company in April 2013

 Breakdown of personnel by job type
Sales
155
(including 27 assistants)

Operations
118

Researchers
135* Executive officers and those at higher levels, employees on leave are not included.
* As of January 1, 2013

Others include those inbusiness planning,business administration,
panelists support andregular staff, etc.

 Number of employees at consolidated subsidiaries 221  211
M-CUBE: 12  14
M-WARP: 17  14
Macromil China: 21  22
MACROMILL EMBRAIN:164 153
M-PROM: 7 822

Status of Panelists
FY2011/6
Indicator

Unit

3Q

MACROMILL
PanelistsTenthousandpeople98.5

4Q(Full-year)

104.0

FY2012/6

FY2013/6

1Q

2Q

3Q

105.9

107.1

108.6

4Q
(Full-year)

109.5

1Q

110.7

2Q

112.2

* As of January 1, 2013

PC Panelists

Mobile Panelists

MACROMILL
Panelists

Yahoo!
Research Panelists

Cooperating mobile
monitors

1.12M people

1.46M people

0.33M people(including smartphone
panelists)(Mobile here refers to feature phones only)23Changes in Balance Sheets (Consolidated)(Consolidated) /Capital policy

Total assets¥18.7bn

Total Liabilities¥8.8bnCB¥5bn

Cash and deposits¥8.4bnNet assets¥9.8bnEnd of June 2012

Total assets¥19.4bn

Cash and deposits¥7.8bnTotal Liabilities¥8.5bnCB¥5bn

Net assets¥10.8bn

End of December 2012

 Considering investments including M&A for new business andoverseas business expansion
 To actively promote business expansion to establish a new pillar of
business using cash generated in existing business domains
24Reference25Company History & Business Results(million yen)

April 2012
Dentsu MACROMILL established

16,000

Net
sales
売上高

Ordinary
income
経常利益

14,000

Successor to marketing researchbusiness of Yahoo Value Insight, Inc.
by absorption-type demerger

12,000January 2004
Listed on MOTHERS
market of theTokyo Stock Exchange

10,000Transferred to 1st Section ofTokyo Stock Exchange

7,413

3,613

AIRs completed,
operations start-up

2,077

2,000
379
29

7,353

5,179

August 2000

106

7,755

6,392

January 2000
Company established

4,000

12,210April 2005

8,000
6,000

14,229August 2010

851
201

1,259

1,653

1,984

2,157

1,753

2,135

2,522

2,975

614

0
-87
-2,000FY2001/6
FY2002/6
FY2003/6
FY2004/6
FY2005/6
FY2006/6
FY2007/6
FY2008/6
FY2009/6
FY2010/6
FY2011/6
FY2012/6(Non(Non(Non(Non(Non(Consolidated) (Consolidated) (Consolidated) (Consolidated) (Consolidated) (Consolidated) (Consolidated)
Consolidated) Consolidated) Consolidated) Consolidated) Consolidated)

26

Service Flow of the Online Research
ClientMacromill(1) Request research

People surveyed(4) Send questionnaires
Macromill panel
members

Automatic Internet Research System

Domestic
corporations
Overseas
corporations- Computer panelists- Mobile panelists- Cell phone panelists(5) View tabulation of
responses in real time.

- Advertising agencies- Manufacturers- Consulting- Service companies- IT companies- Mass media- Public sector…etc.

(2) Prepare
research forms(3) Select people tobe surveyed(5) Respond toquestionnaires(5) Perform realtime tabulation- Doctor panelists(business tie
tie--uppanelists)
panelists)(6) Generate datafor delivery(7) Deliver research
results

Outside panel
members(5) Offer reward points
panelists (real time)- Overseas researchpanelists- Member lists ofclients…etc.

* For Macromill panelists* This is a representative example of the service flow of the online research using AIRs. Depending on the subject of the research, AIRs may not be used or the flow
may change.
* If a research plan is required, this happens before step (1) in the flow chart. If an analysis of research results is required, this happens after step (7) in the flow chart.

27

Share Information
As of December 31, 2012

Total number ofauthorized shares
Total number ofissued shares
Number of shareholders
Round lotcorporations
33.39%

30,882,400
8,831

Financial
products traders
0.65%
Individuals, others
28.37%

Overseas
corporations, etc.
16.77%

Ownership(%)

Yahoo Japan Corporation

7,071,100

22.90

Vanillasky Corporation

2,402,000

7.78

Goldman Sachs International

2,327,568

7.54

Japan Trustee Services Bank, Ltd.
(Trust account)

1,186,400

3.84

Tetsuya Sugimoto

912,400

2.95

The Master Trust Bank of Japan, Ltd.
(Trust account)752,900

2.44

Yasunori Fukuha

709,600

2.30

Goldman Sachs & Co. Regular Account680,700

2.20

Satoshi Shibata

572,000

1.85

INTEC Inc.

514,400

1.67

83,712,000

100

Treasury stock
9.77%
Other

Number ofshares held

Major shareholders

Financial
institutions
11.05%

Note 1. The Company’s total treasury stock ownership of 3,016,600 is not included in the list ofmajor shareholders above.
Note 2. The ownership ratio is calculated based on the number of shares issued.
Note 3. Vanillasky Corporation listed above is represented by director Tetsuya Sugimoto.

28

(Reference) Status of Capital/Business
Alliances,
Alliances, Group Companies
Consolidated subsidiaries
Domestic

Overseas

Equity-method affiliates

Dentsu MACROMILL
 40.0% stake Construction of QPR panels
Collection of consumer purchase data  Integration of EMBRAIN and
MACROMILL Korea （August 2012）
Shareholders: HAKUHODO DYHOLDINGS INCORPORATED. etc.

Capital/business alliances
Shanghai United-Cities Industry
Co., Ltd.
 6.9% stake Marketing solutions business, mainlyin the smartphone area
Next-generation marketing platformbusiness (app development, etc.)

 Research business in China
Sales launched in September
2011 Marketing support business using the Internet
Accepted transfer of business from regain, Inc.

Business alliances

Dentsu marketing insight29

Cautionary Statement

MACROMILL does not guarantee the accuracy of theinformation contained in this presentation, which reflects
judgments made by MACROMILL management based on
information currently available.
Given that the business environment may vary significantlyin the future due to a number of factors, please be awarethat MACROMILL’s actual performance and results may
differ from those expressed today.

Inquiries regarding information contained in this presentation:
IR Group, Corporate Strategy Unit, MACROMILL Inc.
Tel: 03-6716-0706 Fax: 03-6716-0701
E-mail： ir@macromill.com
30