April 19, 2010
For Immediate Release
MACROMILL, INC.
Company Representative: Tetsuya Sugimoto, Chairman and President(Code no.: 3730, First Section of Tokyo Stock Exchange)
Contact for further information:
Yasuhiro Kihara, Chief Financial Officer and Senior Executive Officer
TEL: +81-3-6716-0700

Consultation on Merger of Macromill, Inc. and Yahoo Japan Value Insight Corporation (a Yahoo
Japan Corporation Consolidated Subsidiary) Begins in Earnest

MACROMILL, INC. (the “Company”) is pleased to announce that it has reached a basic agreement withYahoo Japan Corporation (hereinafter referred to as “Yahoo Japan”) to begin in earnest consultation
towards the Company’s merger (hereinafter referred to as “the merger”) with Yahoo Japan’s consolidated
subsidiary Yahoo Japan Value Insight Corporation (hereinafter referred to as “YVI”).
the Company, Yahoo Japan and YVI will consult with each other in the coming weeks to determine thedetails of this matter.

1. Purpose of merger
The Company has been primarily engaged in the business of online marketing research since its
foundation in January 2000, was listed on the Mothers Section of the Tokyo Stock Exchange inJanuary 2004, listed on the First Section of the TSE in April 2005, and has since gained the largest
share of the Japanese market for online marketing research. In recent years, the Company has
expanded into business areas related to online marketing research, partnering Tokyu Agency Inc. inlaunching the consumer purchasing trace data service QPR™ and acquiring Brand Data Bank, Inc.
which analyses relationships between the brands owned by consumers and their attributes andpreferences, and has also expanded the global dimension of its business, tapping into overseas
marketing research demand by establishing Macromill Korea, Inc.
Yahoo Japan made online marketing research firm Info Plant Co, Ltd into a subsidiary in October
2005, then turned highly reputed research data analysis firm Interscope Co., Ltd. into a subsidiary inFebruary 2007 and merged the two companies to form Yahoo Japan Value Insight Corporation (YVI)
in July the same year. Since then Yahoo Japan has continued to expand high value added online
marketing research services by combining use of the Yahoo Group’s marketing research panels andthe Yahoo Group’s Internet expertise.
Online marketing research, a method hardly ever used in 2000, is now the most commonly usedmarketing research method, accounting for a 35% share of Japan’s market for ad hoc market researchin fiscal 2008, and the market is currently estimated to be worth around 40 billion yen (Source: JapanMarketing Research Association, 34th Business Management Fact-Finding Survey). On the other hand,the economic recession triggered by the global financial crisis that hit in the fall of 2008 temporarily
dampened demand for marketing research especially in the advertising industry and manufacturingindustry, price competition also intensified and it was crucial to take measures to maintain andimprove revenue growth and profitability in the online research.
In these circumstances, the new company that will emerge after the merger (the “new mergedcompany”) will combine the Company’s system building capacity and strong sales force and Yahoo
Japan’s research panel assets and YVI’s ability to propose solutions. At the same time, it will integrateclient assets, improve the efficiency of business management and enhance sales promotion and othercapabilities, leading to further business expansion.

-1-

The new merged company will be better able to efficiently provide large volumes of high quality
online marketing research and will expand its product line-up, offering a one-stop shop solution foraddressing increasingly sophisticated marketing needs. The new company also intends to explore andexamine opportunities to develop next-generation online marketing business in collaboration with theYahoo Group.
2. Profile of new merged company (as of December 31 2009)(1) Trade name(2) Business(3) Date of incorporation(4) Head office(5) Representative(6) Capitalization(7) Net assets(8) Number of shares issued(9) Fiscal-year end(10) Financial results (*1)
Net sales
Operating income
Ordinary income
Net income(11) Major shareholders andshareholdings

Yahoo Japan Value InsightCorporation
http://www.yahoo-vi.co.jp/• Online marketing research• Planning, designing, surveys,(marketing research using online data collection, analysis, andpanels)
reports for online research• Mobile marketing research• Planning, designing, surveys,(marketing research by mobile
data collection, analysis, andphones)
reports for conventional research• Global marketing research(group interviews, venue(international marketing research surveys, etc.)
using online panels)• Analysis of frequency and• Consumer buying patterns
meanings of text mining (freeresearch and consumer buyinganswers)
data (QPR™)• Data mining of website access• ASP business based on thelog data and analysis of links
proprietary, Internet-driven
with surveys
Automatic Internet Research• Data mining of purchase history
System (AIRs)
data and analysis of links with
• Internet marketing research
surveysplanning/design and creation of • Marketing consulting foranalytical reports
products, services, brands, and• Other research services
prices(qualitative research, etc.) andmarketing consulting
January 31, 2000
July 10,1996
2-16-1 Konan, Minato-ku, Tokyo, 1-38-1 Chuo, Nakano-ku, Tokyo,JapanJapan
Tetsuya Sugimoto,Shin Tanabe,Chairman & President
President & CEO
930 million yen
700 million yen
5,970 million yen
2,452 million yen
128,586 shares
13,402 shares
June 30
December 31
Macromill, Inc.
http://www.macromill.com/

7,755 million yen
4,869 million yen
1,745 million yen
323 million yen
1,753 million yen
337 million yen
941 million yen
202 million yen
Vanilla Sky Co., Ltd.:
9.37% Yahoo Japan Corporation: 76.89%
Satoru Shibata:8.22% Masaki Otani:
11.65%
Japan Trustee Services Bank, Ltd.
(*3)(account in trust):
8.03%
Tetsuya Sugimoto:
4.05%
State Street Bank and Trust
Company:
3.77%
(*2)

-2-*1 Table shows the consolidated financial results of Macomill, Inc. for the fiscal year ended June 30,
2009 and the non-consolidated results of Yahoo Japan Value Insight Corporation for the fiscal
year ended December 31, 2009.
*2 Macromill, Inc. holds 5,026 shares of treasury stock but is not included in major shareholders.
The ownership ratio is calculated after deduction of 5,026 shares of treasury stock. Also, major
shareholder Vanilla Sky Co., Ltd. is a corporation whose representative is the Company’srepresentative Tetsuya Sugimoto.
*3 Yahoo Japan Value Insight Corporation holds 50 shares of treasury stock. The ownership ratio iscalculated upon deduction of 50 shares of treasury stock.
3. Schedule for the establishment of the new merged company
Basic agreement: April 19, 2010
Other details of the schedule will be announced as soon as they are determined through consultation
between the two companies.

4. Outline of new merged company (provisional)(1) Trade name:
MACROMILL, INC.
(2) Head office:2-16-1 Konan, Minato-ku, Tokyo(3) Representative: Tetsuya Sugimoto(Currently Chairman and President of MACROMILL, INC.)(4) Fiscal year end: June 30-3-