Kufu Company Inc.

FY2024.9 Q1

Presentation Material
February 14, 2024

0

AgendaConsolidated Financial Results for FY2024.9 Q
Business Overview by Segment
Daily Life Busines
Life Event Business11. Consolidated Financial Resultsfor FY2024.9 Q1

2

Group Composition （Main Group Companies as of February 1, 2024）
Daily Life BusinessLife Event Business

Daily and community life domainShopping information service

Regional/lifestyle 
information media

Household budget service,

Research and development

Educational app

Investment and Incubation BusinessHolding company 

(Investment)

MarriagedomainHome domain

Investment

management

Management consulting service

Consulting service for high-net-worth individuals
Wedding information media 
and produce service

Home and real estate specialized media andconsultation service

OthersTravel/outing media（Affiliates）
Location and behavioral data marketing

Development and sales of insurance products

Informational website for trips with children

Holding company(Support for operating companies)3

Highlights of FY2024.9 Q1 Consolidated Financial Results
In FY2024.9 Q1, net sales were 3,263 million yen, operating loss was 117 million yen,  and EBITDA was 134 million yen

Progress by segment
Daily Life Business

Daily and community life domain
Under the change in the media strategy, lifestyle information media "Kufu Live!" was transfere
Although the Tokubai business maintained a slight increase in sales, the decline in profits from media   
advertising since March of last year had a significant impact on the Daily Life Business
Home domai

Life Event Business

Under tough market conditions, HyAS group recorded operating loss due to a decline in sales with sluggish  
growth in the number of housing construction projects and a delay in housing delivery, in addition to acquisition costs.  
The group became wholly owned subsidiary on February 1st. 2024 and growth plans for the home domain are  
currently being considere
Sales of SaaS tools for real estate agencies were steady, and the "Ietate" business was contributed by an increase in the number of contracts at consultation counters

Marriage domai

As the decline in the number of paid advertising venues bottomed out and the number of weddings held  and orders increased, the domain made steady progress toward full-year profitability

Investment and Incubation Business

Investment and business development domai
The gain on sale of operating investment securities was recorded in FY2023.9 Q1, but no major transactions  
occurred in FY2924.9 Q1
4

Consolidated Quarterly Financial Results
Both sales and profits decreased year-on-year
FY2023.9

Q1

Q2 *

Q3

FY2024.9

Q4Full  
year

Q1

YoY

QoQ

4,362 4,599
6,543 4,175
4,696 20,486
5,321 4,883
3,263 66.8
4,362％ 69.5
6,543％Net sales 4,883 4,528

Operating profit

433

369
151

1,023
403

233
274

1,882
551

-117
433

151-

EBITDA

685

626
418

1,285
658

488
536

2,926
808

685
134

19.7
418％ 25.2 ％-(JPY MM)* The Life Event Business started consolidating profit (loss) of OM Solar, Inc. and the Investment and Incubation Business started consolidating profit (loss) of RETRIP, Inc. in the second quarter of FY2023.9.

5

Consolidated Financial Results – Quarterly Trends*

Both sales and profits decreased year-on-year
Operating profit

Net sales
7,000

3,263
JPY MM

6,000
5,000
4,000
3,000
2,000
1,000
0

(JPY MM)Q1
FY2023.9

Q2 *

Q3

Q4

Q1
FY2024.9

1,400
1,200
1,000
800
600
400
200
0
-200

(JPY MM)EBITDA-117
JPY MM

Q1
FY2023.9

Q2 *

Q3

Q4

134
JPY MM

Q1
FY2024.9* The Life Event Business started consolidating profit (loss) of OM Solar, Inc. and the Investment and Incubation Business started consolidating profit (loss) of RETRIP, Inc. in the second quarter of FY2023.9.

6

Consolidated Quarterly Financial Results – Net Sales by Segment
・In the Daily Life Business, sales decreased mainly due to the transfer of some media businesses  in the first quarter・In the Life Events Business, sales declined driven by the Home domain
FY2023.9

Net

sales

FY2024.9

Q1

Q2 *1

Q3 *2

Q4 *3

Full  
year

Daily Life Business

1,110

1,211

930

1,157

4,409

1,016

91.6%

87.8%

Life Event Business

2,938

3,037

3,628

3,549 13,154

2,233

76.0%

62.9%

Investment andIncubation Business

828

99

1,974

70

2,972

91

Others

50

58

80

-

189

-

-

-

Adjustment

-43

-44

-70

-80

-240

-77

-

-

Q1*4

YoY

QoQ

11.0% 128.9%(JPY MM)*1: The Life Event Business started consolidating profit (loss) of OM Solar, Inc. and the Investment and Incubation Business started consolidating profit (loss) of RETRIP, Inc. in the second quarter of FY2023.9.

*2: As a result of the organizational restructuring, some businesses were changed their segment from the Daily Life Business to the Life Event Business from the third quarter of FY2023.9.

*3: Da Vinci Studio Co., Ltd. merged into Zaim Inc. on July 1, 2023, and the profit (loss) of the former Da Vinci Studio Co., Ltd. were changed their segment from the Other to the Daily Life Business from the fourth quarter of FY2023.9. 

*4: Some businesses were changed their segment from the Other to the Investment and Incubation Business from the first quarter of FY2024.9.

7

Consolidated Quarterly Financial Results – OP by Segment
・In the Daily Lifestyle Business, the impact of the decline in profits from media advertising was large 

・In the Life Events Business, profits declined mainly due to lower sales in the Home domain
FY2023.9

FY2024.9

Q1

Q2 *1

Q3 *2

Q4 *3

Full  
year

Daily Life Business

259

313

179

202

955

141

54.4%

69.6%

Life Event Business

191

118

306

369

986

7

3.7%

1.9%

Operating
 Investment andprofit Incubation Business

313

5

834

-35

1,118

-34

-

-

Others

-61

-44

-44

-

-149

-

-

-

Adjustment

-269

-242

-252

-263

-1,027

-231

-

-

Q1*4

YoY

QoQ

(JPY MM)*1: The Life Event Business started consolidating profit (loss) of OM Solar, Inc. and the Investment and Incubation Business started consolidating profit (loss) of RETRIP, Inc. in the second quarter of FY2023.9.

*2: As a result of the organizational restructuring, some businesses were changed their segment from the Daily Life Business to the Life Event Business from the third quarter of FY2023.9.

*3: Da Vinci Studio Co., Ltd. merged into Zaim Inc. on July 1, 2023, and the profit (loss) of the former Da Vinci Studio Co., Ltd. were changed their segment from the Other to the Daily Life Business from the fourth quarter of FY2023.9. 

*4: Some businesses were changed their segment from the Other to the Investment and Incubation Business from the first quarter of FY2024.9.

8

Consolidated Financial Results – B/S
As of
 

end-Sep. 2023

As of

end-Dec. 2023

14,122

12,200

9,405

6,720

-1,921-2,685

1,334

1,420

86

1,232

1,384

152

525

982

456

Non-current assets

6,851

7,449

598

(Goodwill)(Investments and other assets)

3,591

4,018

426

1,795

1,846

50

19,649(Short-term and long-term borrowings)

20,973
9,376
5,349

Net assets

11,596

10,969（Capital surplus）

8,452

8,220

(Retained earnings)

1,739

1,534

(Treasury shares)(Valuation difference on available for-sale securities)

-132
-13
20,973-304-4-1,323
-695
-552
-627
-232
-204
-171

Current assets(Cash and deposits)(Operational investment securities)(Real estate for sale)(Other current assets)

AssetsLiabilities

Total liabilities and net assets* Items in parentheses are included in totals.

8,680
4,797

19,649Change8

Change factors
・Cash and deposits decreased by 2,685 million yen  
due to acquisition of subsidiary shares, repayment  of borrowings, and share buyback

・Other current assets increased by 456 million yen 
due to an increase in deposits of investment funds etc.

・Goodwill increased by 426 million yen due to the  start of consolidation of Gold Eggs Inc., etc.

・Short-term and long-term borrowings decreased by 552 million yen

・Capital surplus decreased by 232 million yen due to  
acquisition of additional subsidiary shares, etc.

・Treasury shares increased by 171 million yen due to  
share buyback by the end of December-1,323(JPY MM)9Group Management Target by FY2026.9 (5th Term)

Group EBITDA*1

10 billion yen*2

Ratios of main 50 %business segments *3

Daily Life Business
Daily and community life domain

50 %Life Event Business
Marriage domain

Home domain *4*1: EBITDA (operating profit + depreciation and amortization)*2: Target to be achieved through organic growth of each group companies 

EBITDA plus costs for stock-related compensation upon the resolution to issue the 8th and the 9th share acquisition rights (stock options with charge)*3: Ratio of each business segment based on the sum of the Daily Life Business and the Life Event Business. 

In September 2022, some of the business segments and domains were revised. The composition ratio was calculated based on the revised amounts. 

*4: The home domain includes HyAS & Co. Inc.

10

The acquisition of naming rights for a new professional baseball team  
in Shizuoka is aimed at strengthening regional business
The acquisition of naming rights for a new
professional baseball team in Shizuok▲

In January 2024, a capital and business alliance agreement was
signed with Hayate 223, which became the first in Shizuoka
Prefecture to enter professional baseball farm league
Acquired the naming rights of the team, and named it  
"Kufu Hayate Ventures Shizuoka"
A press conference to announce the team name held in Tokyo on January 16, 2024,  with the participation of over 20 media companies including TV and newspapers

Strengthen regional business starting with Shizuok

SHIZUOKAONLINE CO. LTD. will change its name to "kufushizuoka Inc."  (April 2024
Kufu Sumai rebranded "Ietate," a local housing information media andservice operated mainly in Shizuoka, to "Kufu Ietate" (March 2024),  and strengthen the opening of consultation counters112. Business Overview by Segment

12Direction

Becoming No.1 service
in all businesses provided by Kufu Company Inc. Group, 
by providing one-stop online and offline services

Shopping

Overwhelmingly No.1 in the number of registered stores & users  in 3 years

Home

MarriageNo.1 in the number of housing-related constructions in 5 years

No.1 in the number of wedding creations in 5 years

13Daily Life Business

14

Daily Life Business – Financial Results – Quarterly Trends
Under the change in the media strategy, lifestyle information media "Kufu Live!" was transfere
Although the Tokubai business maintained a slight increase in sales, the decline in profits from  
media advertising since March of last year had a significant impact on the Daily Life Business
SHIZUOKA ONLINEKIDS STAR
Kufu AI Studio (formerly Zaim)
Net
sales
Locoguide (incl. sales of former Kufu Lifestyle)

1,200

1,016
JPY MM

1,000

Operating profit

500

EBITDA

181
141 JPY MM

400

800

JPY MM

300

600

200

400
200

100

0

0

(JPY MM) Oct.Dec.
2021

Jan.Mar.
2022

Apr.Jun.

Jul.Sep.

Oct.Dec.

Jan.Mar.
2023

Apr.Jun.
*1

Jul.Sep.
*2

Oct.Dec.

(JPY MM)

Oct.- Dec.
2021

Jan.Mar.
2022

Apr.Jun.

Jul.Sep.

Oct.- 
Dec.

Jan.-  Mar.
2023

Apr.- 
Jun.
*1*1 "Ietate" business run by SHIZUOKA ONLINE o. LTD, was succeeded by Kufu Sumai Inc, and its segment was changed to the life event business on April 1, 2023
*2 Da inci Studio o., Ltd. merged into Zaim Inc., and Zaim Inc. changed its name to Kufu AI Studio Inc. on July 1, 2023.
：

：

C

V

C

.

Jul.-  Sep.
*2

Oct.-  Dec.

15

Number of Subscriber Stores for Tokubai Service and Average Unit Price *As of the end of December 2023, there were 38,199 subscriber stores (stores with fixed price contracts were down 2.9 % YoY to 29,761)
Subscriber stores
Fixed price contract stores

Average unit prices at fixed price contract stores

Pay-for-performance stores

5,000
4,800

40,0004,600

30,000-2.9%YoY

20,00029,761stores

10,0000(Stores) Dec. Mar. Jun. Sep. Dec. Mar. Jun. Sep. Dec. Mar. Jun. Sep. Dec.

2021

2022

2023

4,400
4,200
4,000
3,800
(JPY)

Dec. Mar. Jun. Sep. Dec. Mar. Jun. Sep. Dec. Mar. Jun. Sep. Dec.
2021
2022
2023

* The number of subscriber stores and the average unit prices do not include the initiative with approximately 16,000 convenience stores.

16

Number of stores registered for Tokubai service (3 major retail categories)

Focusing on improving information comprehensiveness in the three major retail categories (supermarkets, drug stores, and home centers) 

Registered stores in the 3 major retail categories
Supermarkets

Drug stores

Jun.

Dec.

Home centers

50,00045,00040,00035,00030,00025,00020,00015,00010,0005,000
0(Stores)

Dec.

Mar.

2021

2022

Sep.

Mar.

Jun.

Sep.

Dec.

2023

17

Number of monthly active users and app downloads of Tokubai service
As of the end of December 2023, the number of monthly active users of Tokubai service was  
approximately 17 million, and the cumulative number of app downloads was approximately 11 millio
As of the end of December 2023, the number of core users * was 3.37 million (3.52 million as of the end of December 2022)
Monthly active users
Tokubai

Total App downloads

Tokubai News

20

12
10

15
8
10

6
4

5
2
0
(Million users)

Dec.

Mar.

2022

2023

Jun.

Sep.

Dec.

0

（Million DL） Dec.

Mar.

2022

2023

*Total users who use the functions, such as flyers, recipes, and coupon rather than articles or other light functions, at least once a week.

Jun.

Sep.

Dec.

18

Demand for Tokubai service is expanding due to high prices
According to a survey conducted among 2,593 Tokubai users, approximately 90% responded that they had
increased the frequency of purchasing low-priced groceries compared to the previous year (2022As long-term price increases further impact household budgets, the need to "buy at a better price" isexpanding

Survey on High Prices (November 2023)
To what extent are price increases in 2023 affecting household budgets Do you buy low-priced groceries more often 

compared to previous year? 

compared to previous year? 

【single answer, n=2,593】【single answer, n=2,593】

Same as previous year　 
5.0%

Slightly more impact  than previous year 　 
30.1%

Decreased a little　 

No impact　 
0.5%

0.6%

No change　 
11.6%

Decreased significantly　 
0.4%

Much more impact  than previous year  

64.4%

Increased a little　 
31.0%

Increased significantly　 
56.4%

Survey method: Internet survey 
Survey period: From November 17, 2023 to November 22, 2023 
Survey target: 2,593 users of Tokubai service

19New function "Tokubai Flyer Comparison" utilizing image analysis AI
A function that allows you to display only the products you are looking for from multiple flyers in a list  and easily compare the
Further enhancing the convenience of the function, "viewing flyers of frequently visited stores all at once",  which users find useful

Tokubai Flyer Comparison (Released November 2023)

Display only the products  
you are looking for  
from multiple flyers

Select the product  
you want to buy

You can view the entire flyer  of the store that sells  
the product you want to buy

20Promoting initiatives to improve user convenience
A web page featuring Black Friday was opened, approximately 25,000 stores participated, and a campaign
was also held. Continuing to strengthen event features with high user need
A special web page that shows the irregular business days and hours of each store during the year-end  
and New Year holidays, which was well received last year

Featuring on Black Friday

Featuring on business hours  during the year-end and New Year holidays

21Life Event Business

22Home Domain Business (HyAS group) – Financial Results *1 – Quarterly Trends
Under tough market conditions there was sluggish growth in the consulting business and delivery delays  in the construction busines
Despite falling into the red mainly due to decreased sales and acquisition costs, HyAS group became  wholly owned subsidiary *1 and growth plans for the home domain are currently being considered
Net sales

2,500

1,388
JPY MM

2,000

Operating profit

300
250
200
150

1,500

-52

100
1,000

0

500
0
(JPY MM)JPY MM

50-50
Oct.- Jan.- Apr.- Jul.-   Oct.- Jan.- Apr.- Jul.-  Oct.Dec. Mar. Jun. Sep. Dec. Mar. Jun. Sep. Dec.
2021 2022

*2

2023

*1：HyAS & Co. Inc. became wholly owned subsidiary on February 1, 2024.

*2：Profit (loss) of OM Solar, Inc. was consolidated starting from Jan.-Mar. 2023.

-100(JPY MM)

Oct.- Jan.- Apr.Dec. Mar. Jun.
2021

2022

Jul.-  Oct.- Jan.- Apr.- Jul.-  Oct.Sep. Dec. Mar. Jun. Sep. Dec.
*2

2023

23

HyAS strengthen response to diverse user needs  and online customer attraction
Under tough market conditions due to the soaring material prices, etc., the number of housing-related
constructions by HyAS Group has been on a downward trend recently
Strengthening new product introduction that meet diverse user needs, such as renovation products,  and support for member construction companies to attract customers online, as the market is expected  
to continue to be toughStrengthening response to diverse user needs 
and online customer attraction

Number of housing-related constructions（HyAS Group）*

Proposing renovation houses, in addition to custom-made houses

500

Strengthening support for  
member construction companies 
to attract customers online

400
300

Before200
1000roperties）（P

Oct.Dec.
2022

Jan.Mar.
2023

Apr.Jun.

Jul.Sep.

Oct.Dec.

After* Calculated based on the number of "R+house" constructions by member construction companies of HyAS & Co. Inc., the number of constructions by R+DM CO.LTD., and the number of  
system installations by OM Solar, inc. (all based on construction starts).

24

Home Domain Business (Kufu Sumai, SSI) – Financial Results *1  
– Quarterly Trends

Sales of SaaS tools remained steady, and the number of contracts at consultation counters increased  in the Ietate busines
Purchase and resale services made progress in reducing inventory

1,200Media+SaaS

Net sales *2

Purchase and resale  
services+ brokerage  services

Services for high- 
net-worth  
individuals

Ietate *3

1,000

200

600

100

400

50

200
(JPY MM)EBITDA

150

800

0

Operating profit

Oct.- Jan.- Apr.- Jul.- Oct.- Jan.- Apr.- Jul.- Oct.Dec.
Mar.
Jun.
Sep.
Dec.
Mar.
Jun.
Sep.
Dec.
2021 2022
2023(JPY MM)

0

Oct.- Jan.- Apr.- Jul.- Oct.- Jan.- Apr.- Jul.- Oct.Dec.
Mar.
Jun.
Sep.
Dec.
Mar.
Jun.
Sep.
Dec.
2021 2022
2023*1: The simple aggregate of Kufu Sumai Inc. and SSI Corporation (includes some intragroup transactions). O-uccino, Inc. and Ouchino Kufu Co., Ltd. were integrated into Kufu Intermediate Holding Company Inc. which was renamed as Kufu Sumai Inc.  
as of October 1, 2022. 

*2: Services for high-net-worth individuals show sales of SSI Corporation, and others show sales of Kufu Sumai Inc. For net sales in September 2022 or before, Media + SaaS represents sales of former O-uccino, Inc. and purchase and resale services +  
brokerage services represents results of former Ouchino Kufu Co., Ltd.

*3: Local housing information media "Ietate" and consultation services "Ietate Soudan Counter"（these businesses were taken over from SHIZUOKAONLINE CO. LTD. to Kufu Sumai Inc. on April 1, 2023）.

25

As users become more price conscious,  
expanding the growth of consultation services
Our consultation services (Ietate) have the strength of introducing local construction companies  
in a reasonable price range, and the number of contracts has increase
As users become more price conscious, accelerating the increase in the number of users  
by expanding the product lineup and opening consultation counters
Number of housing-related constructions（Ietate）*
100

Promoting the expansion of consultation services

Product lineup expansion

Area expansion

80
60
40
20
0
roperties）（P

Oct.Dec.
2022

Jan.Mar.
2023

Apr.Jun.

Jul.Sep.

Oct.Dec.

Responding to the low-cost needs ofusers, such as planned houses andcontainer houses (the photos show an
example of 10~15 million yen)In addition to the existing 6 stores,  
3 stores in total are scheduled to openin Shizuoka and Aichi prefectures inMarch~April* Calculated based on the number of cases in which we confirmed that contracts were concluded through the local housing information media "Ietate" and the consultation services "Ietate Soudan Counter" .

26

Marriage Domain Business– Financial Results – Quarterly Trends
Steady progress toward full-year profitabilit
In the media business, seasonal advertising products contributed, and the decline in the number of  
paid advertising venues bottomed ou
In the Wedding Producing business, the number of weddings held and orders increased
Net sales

400

Production and dress sales

350

Media

300

40

EBITDA

30
20

250

10

200

0

150

-10

100
50

-20

0

-30

(JPY MM）

Operating profit

Oct.-

Dec.

2021

Jan.-

Mar.

2022

Apr.-

Jun.

Jul.- 

Sep.

Oct.-

Dec.

Jan.-

Mar.

2023

Apr.-

Jun.

Jul.- 

Sep.

Oct.-

Dec.

(JPY MM）

Oct.-

Dec.

2021

Jan.-

Mar.

2022

Apr.-

Jun.

Jul.- 

Sep.

Oct.-

Dec.

Jan.-

Mar.

2023

Apr.-

Jun.

Jul.- 

Sep.

Oct.-

Dec.

27

Disclaimer

Important notes

This document contains forward-looking statements. These forward-looking statements are based only on the information made available to  
Kufu Company as of the date this document was prepared. These statements are not guarantees of future results and involve risks and uncertainties.
Accordingly, the actual results may differ materially from those projected herein depending on operating environment and other factors. 

Actual results could be affected by, but are not limited to, domestic and international economic conditions and industry trends surrounding  
Kufu Company.

Kufu Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information,  future events or otherwise. 

Information that is not related to Kufu Company is derived from publicly available information. Accordingly, Kufu Company does not verify nor
guarantee the accuracy, completeness and correctness of such information.

=Inquiries=
IR Representative, Corporate Communications Department

E-mail : ir@kufu.co.jp

Website : https://kufu.company/en28