Financial Results Briefing for FY2022 Full -Year
Steady growth in stock-model revenue originating from sales of payment terminals- Building a high-retention payment platform that achieves growth with merchants -10th IR Presentation

November 15, 2022
GMO Financial Gate, Inc.
(Ticker:4051, TSE-Growth)

https://gmo-fg.com/

Copyright 2022 GMO Financial Gate, Inc.

Cautionary Note Regarding Presentation Materials

The content of these presentation materials is based on generally
recognized economic and social conditions, as well as assumptions
judged to reasonable by GMO Financial Gate as of November 15, 2022
Note that presentation material content is subject to change without priornotice in response to changes in the business environment or other
unforeseen circumstances

Copyright 2022 GMO Financial Gate, Inc.

1

TableofContents

1. Summary of financial Results for FY2022

2. FY2023 projection

3. Growth Strategy and Progress

4. Financial Highlights

5. Appendix

Copyright 2022 GMO Financial Gate, Inc.

2

Summary of financial Results for FY2022

1
Copyright 2022 GMO Financial Gate, Inc.

1.1 FY2022 Summary
A virtuous cycle of steady initial revenue and growth in stock-model revenue. Revenue exceeded therevised plan
FY2022 Full-Year

P5‐ Revenue：¥10,295 million (＋45.2% YoY)、Operating profit：¥740 million (＋25.7% YoY)
‐ Transaction Volume：302 million (2.1x YoY)、GMV：¥2.46 trillion(2.1x YoY)
‐ Number of active terminals： End of Q4 189.5K（＋64.6K YoY、＋51.8% YoY）
Quantitative
Comments

P7

Revenue Category：Initial ¥7,162 million (＋38.6% YoY) 、Stock-model ¥3,132 million (＋62.9% YoY)
Composition of merchants P13‐ Continued decline in dependence on top 30 merchants ：Q4 standalone FY2021 23.9%→ Q4 standalone FY2022 19.4%(▲4.5pt)
Growth of existing merchants P15‐ Expansion of transaction volume at existing merchants FY2020 full-year→FY2021 full-year：+60.7%
FY2021 full-year→FY2022 full-year：+83.8%

Qualitative
Comments• Re-opening effect gradually emerging in face-to-face cashless markets such as hotel/travel and apparel P11, P12• Strengthened “Vertical Expansion” toward in-bound related industries considering with post-COVID era.
Building high retention platform through solving merchants’ problems/issues P14• As for ESG, taking and action to disclose ESG-related data such as supply chain CO₂ emissions
Copyright 2022 GMO Financial Gate, Inc.

P28
4

1.2 Summary of Financial Results
Sales/gross profit exceeded the forecast, and the growth strategy to expand market share is
progressing steadily. Due to future investments, operating profit was in line with the forecast（Millions of yen）

FY2022
Forecast

FY2021
actual(Revised on Aug. 8, 2022)

FY2022
actualActual/Forecast (%)

YoY(Revised on Aug. 8, 2022)

FY2021 vs FY2022

Revenue

7,089

9,800

10,295105.1％＋45.2%

Gross Profit

2,020

2,421

2,768

114.3％＋37.0%

Operating Profit

589

737

740

100.5％＋25.7%

Profit attributable toowners of parent

411

461

472

102.5％＋14.9%

Dividend per share

¥51

¥57

¥58

¥+7
from FY2021 actual

Number of active terminals

Transaction volume

GMV（End of Q4 FY2022）（Q4 standalone）（Q4 standalone）

KPIs

189,506

Approx. 92.24 million

Approx. 753billion（YoY）（1.5x）（1.9x）（2.0x）

Copyright 2022 GMO Financial Gate, Inc.

5

1.3 Major Topics Regarding Financial Results
Steady growth in both initial and stock-model revenue
Gross profit and operating profit both exceeded the mid-to long-term target of 25% growth（Unit: Millions of yen）

12,000◼ Revenue(+)Steady growth in sales of payment terminals(+) Steady growth in stock-model revenue backed by an increase in the number of active terminals(+) Re-opening effect due to domestic demand recovered toward pre-COVID level to a certain extent(ｰ) Postponement of purchase and sales of some payment terminals due to shortage of parts andRevenuematerials by manufacturers（+45.2％ YoY）

10,000

8,000

6,000

4,000

10,295
7,089◼ Gross profit(+) Revenue expansion(+) Steady expansion of high-margin stock-model revenue(ｰ) Increase in sales composition ratio of lower gross marginterminal “stera”◼ Operating profit(+) Steady growth in revenue and gross profit(ｰ) Extra SG&A is allocated with the portion of exceeding
the forecast OP(such as the investment on internal
Gross profit
management structure and human resources (hiring（+37.0％ YoY）
and bonuses))

2,000

2,768
2,020

Operating profit（+25.7％ YoY）
589

0
FY2021 売上高 FY2022
Full year actual Full year actual

FY2021売上総利益FY2022
Full year actual Full year actual

Copyright 2022 GMO Financial Gate, Inc.

740

FY2021営業利益 FY2022
Full year actual Full year actual6

1.4 Revenue by business model (YoY)
Steady growth in stock-model revenue backed by steady sales and installation of payment terminals（Millions of yen）

InitialStock-model

Stock

Fee

SpreadTotal

FY2021
actualFY2022
actual(Composition %)(Composition %)YoY
FY2021 vs FY2022

5,166

7,162

(72.9%)(69.6%)

1,923

3,132

(27.1%)(30.4%)

624

865(8.8%)(8.4%)

533

1,317(7.5%)(12.8%)

764

950(10.8%)(9.2%)

7,089

10,295

Copyright 2022 GMO Financial Gate, Inc.

+38.6%+62.9%+38.6%+146.7%+24.2%+45.2%

7

1.5

Revenue by business model (Quarterly)【Initial】 Achieved solid level in Q4 as well. Aiming for continued expansion also in FY2023, although
there will be fluctuation from quarter to quarter【Stock-model】 Spread revenue was affected by COVID in Q4, but Stock-model revenue overall
expanded steadily due to an increase of active terminals and re-opening
Initial Revenue

Stock-model Revenue

Pre COVID

Under COVID（Unit: Millions of yen）

Pre COVIDIn Q3, we had orders from merchants
which have many chain-type stores inJapan that had pushed up Initial revenue

2,500

1,928

2,000
1,682
1,525

300
451

500

Fee

841

Spread

800

400

855
626

Stock

242

465

687

683

239

218

251

569
495

500

693

921

+61.9% YoY

600

1,103
1,000

1,000

700

1,643
1,454

1,500

（Unit: Millions of yen）

900

2,137

Under COVID

363

367

178

180

200
75

70

100
110

118

391

430

179

435
361

186

333
125

203

427

193

182

262

259

186

206

183
149

80

80

101

128

132

136

99
146

160

182

229

244

0

0
Q1
20/9期
1Q

Q2
Q3
20/9期
20/9期
2QFY20203Q

Q4
20/9期
4Q

State of Emergency①

Apr 7～ May25

Q1
21/9期
1Q

Q2
Q3
21/9期
21/9期
2QFY20213Q

②

③

Q4
21/9期
4Q

Q1
22/9期
1Q

④

Jan 7～Mar 21
Jul 12～Sep 30
Apr 23～Jun 21

Q2
Q3
22/9期
22/9期
2QFY20223Q

Q4
22/9期
4Q

Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
20/9期
20/9期
20/9期
20/9期
21/9期
21/9期
21/9期
21/9期
22/9期
22/9期
22/9期
22/9期
1Q
2QFY20203Q
4Q
1Q
2QFY20213Q
4Q
1Q
2QFY20223Q
4Q

Quasi of SOE

State of Emergency

Jan 7～Mar 21

Apr 7～ May25

Copyright 2022 GMO Financial Gate, Inc.

①

②

③

④

Jan 7～Mar 21
Jul 12～Sep 30
Apr 23～Jun 21

Quasi of SOE

Jan 7～Mar 218

1.6 Initial Revenue and No. of Active Terminals (Quarterly)
Q4 initial revenue remained at a certain level. The number of active terminals increased steadily despite
the impact of the infection spread of COVID. Inbound effect is expected from Q1 FY2023 onward+15.3
Initial revenue（Unit: Millions of yen）

189.5

Number of active terminals （Unit: Thousand）

+17.9
174.2

+13.1
+18.3
+17.7
+14.1

Q4：
Infection spread of COVID

156.3
143.2

124.9

107.2

+12.4
+8.0

93.1

+5.4
80.7

+9.7
+10.5

67.3
57.6

1,525

855
693

Q1 FY2020

Q2 FY2020

1,928

Q3 FY2022

Q4 FY2022

72.7

47.1

626

2,137

451

465

Q3 FY2020

Q4 FY2020

Q1 FY2021

1,682

1,454

1,643

Q1 FY2022

Q2 FY2022

1,103

Q2 FY2021

Q3 FY2021

Q4 FY2021

Copyright 2022 GMO Financial Gate, Inc.

9

1.7 Merchant Industry
Preparing for the recovery of inbound tourism demand toward After COVID by installing new payment
terminals at big electronics chain-retailers etc. Expanded the number of merchants in SME as well,centered on stera pack
Store scale：Large： High inbound tourism demand
COVID-19 headwind
COVID-19 tailwind
NeutralChainrestaurant
One dollar
shop
Publictransportation(Train/bus etc.)

Hotel/Travel

Supermarket
Drug store(medicine/cosmetics)

clothing/
Sporting
goods

Action Plan

Parking lot

New

IoT Mobility
Administrative
institutions

Low unit
priceElectronics
chain-retailers(City office /Police station/
Drivers’ license agency)

IoT
Vending/
checkout machine

Educational
institutions

•
•

•
•

(Stores/Cafeterias in
University/High School)

stera pack
(For SMEs)

Introduction of self-checkout
registers
IoT POS / Center linkage••

POS point linkage
Provision of DX services tobusiness partners

Solutions for the mass market
Provision of DX services tobusiness partners•

Sales strategies by industry/
individual company
Proposals in collaboration withbusiness partners•

High-end retail/
Department
store

One-stop service proposals withalliance partners
High unit
price

GMO Card System(consolidated subsidiary)
Smallrestaurant

Small restaurant/
Small retail(Incl: fine dining)

Service/
LeisureUpdateSteady expansion in SME areas

Store scale : Small
Copyright 2022 GMO Financial Gate, Inc.

Medical / Clinic

High ASP*
retailer(goods/apparel)

10

1.8 Transaction Trends by Industry (Q4)
In Q4, hotel and travel-related businesses showed signs of recovery. Restaurant business stagnatedslightly due to the re-expansion of COVID and bad weather such as typhoons
Merchant Ａ

COVID-19 headwind

Jul - Sep：Decreased
due toRe-expansion of COVID+
Bad weather

Transaction Volume

Chainrestaurant

Transaction Value (GMV)
Seasonality&
Quasi of SOE(Izakaya)

Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun

2021
COVID-19 headwind
Transaction Volume
Transaction Value (GMV)： High inbound tourism demand

22/9

22/8

22/5

22/4

22/3

22/2

21/12

21/11

21/10

21/9

21/8

21/7

21/6

21/5

21/4

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep

Merchant D

2022
COVID-19 tailwind： High inbound tourism demand

Transaction Volume

Drug store
Pharmacy

Transaction Value (GMV)

Shifted steadily

Seasonality&
Quasi of SOE

Jul-Aug：In-Bound demand
spiked because of the spot
factor caused by international
event held in Japan

21/3

Shifted steadily

Transaction Value (GMV)(Medicine/
Cosmetics)

22/1

Hotel/Travel

21/2

Transaction Volume

Super market

2021
Jul - Sep：Increased
due toSeasonality+
Trend of recovery in
inbound related demand

22/7

Merchant B

21/1

Jul Aug Sep

COVID-19 tailwind

2022

22/6

Jan Feb Mar Apr May Jun

Merchant C

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep

2021

Copyright 2022 GMO Financial Gate, Inc.

2022

11

1.9

Top 30 ranked merchants (GMV basis)

Hotel/travel and apparel increased as a result of focusing on acquiring new merchants in anticipation of
After COVID. Re-opening trend has been confirmed, mainly coming from domestic demand
FY2021 Q4 standalone

FY2022 Q4 standalone

Retailer A
Drugstore A
Drugstore B
Supermarket A
Service A
High ASP retailer A
Service B
Low ASP retailer A
High ASP retailer B
Drugstore C
Supermarket B
Supermarket C
Chain restaurant A
Service C
High ASP retailer C
Supermarket D
Service D
High ASP retailer D
High ASP retailer E
High ASP retailer F
Supermarket E
High ASP retailer G
Service E
DIY Home center A
High ASP retailer G
HSupermarket F
Chain restaurant B
Chain restaurant C
Apparel A
Hotel/Travel A

Supermarket E
Retailer B
Apparel B
Drugstore A
Retailer A
Low ASP retailer A
Drugstore B
Chain restaurant A
Supermarket A
Service A
Hotel/Travel B
High ASP retailer A
Supermarket B
High ASP retailer B
Service C
Hotel/Travel C
High ASP retailer I
Retailer C
Apparel C
Drugstore C
Supermarket D
Supermarket C
High ASP retailer C
Hotel/Travel D
High ASP retailer E
High ASP retailer F
Service D
Apparel D
Hotel/Travel A
Apparel E

Subtotal of top 30 GMV¥91.2 billion（Unit: ¥100 million）

0

50

100

150

Copyright 2022 GMO Financial Gate, Inc.

New
New

Increase from Q4 FY2021
Decrease from Q4 FY2022

New

Subtotal of top 30 GMV
New
New
New
New

¥146.4 billion(+¥55.2 billion YoY, +60.5% YoY)
New New contract:10

New

Hotel/Travel, Apparel merchants
boosted by re-Opening effectNew（Unit: ¥100 million）

New
0

50

100

150

12

1.10 Percentage of top 30 merchants out of total GMV
Dependence on top merchants continues to decline. Industry composition changed due to re-opening
effectDependence on top ranked merchants Q4 FY2021(Jul-Sep)

Dependence on top ranked merchants Q4 FY2022(Jul-Sep)

GMV Q4 FY2021:¥381.1 billion
Top 30 GMV Q4 FY2021 :¥ 91.2 billion

GMV Q4 FY2022:¥753.0 billion (+97.6% YoY)
Top 30 GMV Q4 FY2022 :¥146.4 billion (+60.5% YoY)

13.1%

10.8%
16.0%

19.6%

19.4%

23.9%

TOP10

TOP20

TOP30

Rest
TOP10

TOP20

TOP30

Rest

Industry composition of top 30 merchants (GMV basis)
1.9%

1.5%

1.5%

5.1% 3.5%
7.7%

4.1%
6.1%

21.8%

20.4%

9.3%
19.0%

16.4%

9.3%
12.2%

15.3%

12.8%

13.7%

18.3%

High ASP retailer
Retailer
ApparelDrugstore
Chain restaurant
Hotel/Travel

Supermarket
Low ASP retailer

Service
DIY Home Center

Supermarket
Drugstore
Service
Copyright 2022 GMO Financial Gate, Inc.

Retailer
ApparelLow ASP retailer

High ASP retailer
Hotel/Travel
Chain restaurant13

1.11 Expandability of GMO-FG cashless platform
Building a highly retentive payment platform by promoting “Vertical Expansion”
Support merchants through resolving issues in preparation for future recovery of inbound demand
Vertical Expansion

2

3

4

Expansion of services by industry

Examples of merchants’ needs which is booked as software development revenue(=Our Initial Revenue)

Growth strategies (～FY2025)

Retailer
Bus/Railway
Real Estate

Bus/Railway
Hotel/Inn• Demand remains high level for labor-saving measures(e.g., self-checkout register needs), house points/uniquepoints, and payment data sharing• Promoting the construction of a payment platform in
inbound-related industries for After COVID

1

Delivering Next-Generation type of terminals

2

Expansion in Unmanned (IoT) payment domain

3

Acquire large accounts through expansion of alliances with QR,
points, etc.

4

Increase added value by strengthening processing center functions

TravelContributed to acquisition of large merchants.
Positive impact on next project acquisition

Public Institution

Vending machine

1

Parking lot
EV meterLaundry

Amusement

TravelWholesale

Real Estate

Office/School

Medical/Welfare

Hotel/Inn

Bus/Railway

Restaurant

Retailer

Horizontal Expansion

New

Expansion in customer industry

2①Payment terminal, ②Processing center, ③PSP service

Approach to major player in each industry

Copyright 2022 GMO Financial Gate, Inc.

• Acquirer• Clearing machine
manufacturer
14• POS operators

1.12

Payment platform achieving growth together with merchants

Provides merchants with a highly-retentive payment platform. It’s Win-Win model that the moremerchant grow in cashless payments, the more we grow
Growth in the number of transaction volume (Define previous fiscal year merchants as “Existing”)※Existing growth includes "increase in the number ofpayment terminals" and "new store openings" atexisting merchants（Unit: million）

350
Transaction volume from Existing merchants

Transaction volume from newly acquired merchants

302

300
Transaction volume
overall : YoY+112.7%

41

250
200

142

150

Transaction volume
overall : YoY+105.5%

31

Transaction volume
at Existing+83.8％ YoY*
*After taking into account churn

261

100

50

69

Transaction volume
at Existing+60.7％ YoY*111

*After taking into account churn0

FY2020

FY2021
Copyright 2022 GMO Financial Gate, Inc.

FY202215

1.13 Consolidated KPIs（Number of active terminals）
The name of the active terminal category has been changed (refer below), and manned terminal,
centered on stera, is steadily expanding. Although the time from sales to activation varied by terminal
category, the mix contributed to an increase in the number of active terminals
Name change on
active terminal category

Active terminals overall：＋64.6K YoY、+51.8% YoY（Unit：Thousand）

BeforeAlliance partner
sales

After

200

Sold byothers180

Manned terminal

Unmanned terminal＋15.3 189.5

Sold by others

174.2
156.3

160

124.9
120

107.2
100

93.1
80.7

80

67.3
57.6

60

47.1

Payment terminal(excluding IoT)

Mannedterminal+1.5K(+9.1%)

40

18.0
Unmanned terminal (IoT)

45.6

17.7
＋1.0

140

IoT

Sold by others

▲0.1

143.2

Unmanned
terminal(IoT)

QoQ 17.9

YoY

8.5
14.1

13.6

72.7

9.6
21.5

42.3
39.8

16.7
33.6

＋14.4

30.9

20

Manned terminal

126.0

111.6

29.1
26.1

＋5.8K
(＋14.6%)

44.6
43.2

16.4

16.7

14.9

14.4

17.9

28.0

＋57.3K(＋83.6%)

95.4
83.0

36.7

56.8

45.4

68.7

24.4

26.5

27.7

30.3

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

FY2020

FY2020

FY2020

FY2020

FY2021

FY2021

FY2021

FY2021

FY2022

FY2022

FY2022

FY20220

Copyright 2022 GMO Financial Gate, Inc.

16

1.14 Consolidated KPIs (Quarterly Transaction volume/GMV)
Progress in acquiring merchants and accumulating active payment terminals without any bias toward
any industry. Overachieving our target of +50% YoY◼ Transaction value (GMV)◼ Number of transaction volume（Unit：100 million yen）

（Unit：million）

8,000

100
7,000

90
Quasi of SOE＋
Seasonality

80

Quasi of SOE＋
Seasonality

6,000

70

5,000
60
4,000

50
40
30

2.0x YoY

3,000

1.9x YoY

1st SOE

2,000

20

Seasonality

Seasonality
1,000

10

Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
FY2020 FY2020 FY2020 FY2020 FY2021 FY2021 FY2021 FY2021 FY2022 FY2022 FY2022 FY2022

Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
FY2020 FY2020 FY2020 FY2020 FY2021 FY2021 FY2021 FY2021 FY2022 FY2022 FY2022 FY2022

Q1
FY2020Q2
FY2020Q3
FY2020Q4
FY2020Q1
FY2021Q2
FY2021Q3
FY2021Q4
FY2021Q1
FY2022Q2
FY2022Q3
FY2022Q4FY2022

Transaction volume (10 K)

1,383

1,494

1,809

2,231

2,683

2,774

3,848

4,914

6,497

6,293

8,237

9,224

Transaction value(GMV)（¥100 M）

1,442

1,534

1,307

1,833

2,329

2,361

3,141

3,810

5,251

5,162

6,658

7,530

Copyright 2022 GMO Financial Gate, Inc.

17

1.15 Comparison with Market Growth
All industries are recovering toward pre-COVID level. Restaurant expanded significantly due to the low
performance in the previous year. Hotel/Inn expanded during the vacation season. Moderate recovery of
inbound demand is expected to contribute in the future

GMV YoY

GMO-FG(left axis)

GMO-FG monthly

GMO-FG GMV (right axis)

Other retailer (left axis)

All (left axis)

Restaurant(left axis)

3,000

Hotel/Inn(left axis)

億（Unit：¥100M）

2,500

2,000

260
234

（Unit：%）

216

215

200

202
211

193

216

229

215

192

202

190

202

222

226

238
207

214 211

216

209

197

198

186

150

165 159

153

186
160

148

176

162

161
140

1,500

198

143

1,000

131

100

500

116 12050

0
Dec Oct
Jan 21/02
Oct 19/11
Nov 19/12
Dec 20/01
Jan 20/02
Feb 20/03
Mar 20/04
Apr 20/05
May 20/06
Jun 20/07
Jul 20/08
Aug 20/09
Sep 20/10
Oct 20/11
Nov 20/12
Feb 21/03
Mar 21/04
Apr 21/05
May 21/06
Jun 21/07
Jul 21/08
Aug 21/09
Sep 21/10
Oct 21/11
Nov 21/12
Dec 22/01
Jan 22/02
Feb 22/03
Mar 22/04
Apr 22/05
Mar 22/06
Jun 22/07
Jul 22/08
Aug 22/09
Sep
19/10
21/01

2019～

2020～

2021～
SOE①

②

③

④

Apr 7～May 25

Jan 7～Mar 21

Apr 23～Jun 21

Jul 12～Sep 30

Copyright 2022 GMO Financial Gate, Inc.

2022～
Quasi of SOE
Jan 7～Mar 21

18

FY2023 projection

2
Copyright 2022 GMO Financial Gate, Inc.

2.1 FY2023 forecast
Aim to maintain revenue growth rate at 25% CAGR line, even with over ¥10 billion in revenue in theprevious year. Gross profit is set based on the stera composition ratio in Initial revenue and increased
amortization due to growth investments. OP continues to be above +25% YoY（Unit：millions of yen）

（Unit : millions of yen）

FY2022
actualFY2023
forecast

YoY

Initial14,000Stock-model

Gross profit

12,47012,000

Revenue

10,295

12,470+21.1％
10,000Gross profit

2,768

3,136

+13.3％*

10,295
3,132

8,000

Operating profit

740

930

+25.6％

Profit attributable toowners of parent

472

580

+22.8％

Earnings per share¥114.40¥140.45－

Approx. 35%

30%

6,000

4,000

7,162

Approx. 65%

70%

2,000
2,768

GPM
26.9％

3,136

GPM
25.1％

0

Dividend per share

¥58

¥71

－

FY2022
ActualFY2023
Estimate

Concept of gross profit levels for FY2023
Copyright 2022 GMO Financial Gate, Inc.

• Rise in the composition ratio of stera in initial revenue• Increase in amortization expenses at the COGS level due tosystem development for high-growth merchants
20

2.2

Revenue growth rate in 1st Half & 2nd Half

The divergence in revenue growth rates between 1H and 2H is due to the quarterly revenue plan isassumed to be balanced within a certain level, taking into account the possibility of fluctuating terminal
sales. The momentum of terminal sales is expected to continue in 2H as well
Revenue balance between 1H and 2H (FY2022 vs FY2023)（Unit：millions of yen）

FY2022 (actual)

14,000

FY2023 (Estimate)+21.1% YoY
12,00010,0008,000+36.9% YoY+9.1% YoY
12,4706,000
10,295

4,000
6,115

6,355
5,827

4,468

2,000
0

1H

2H
Copyright 2022 GMO Financial Gate, Inc.

Full year
21Growth Strategy and Progress

3
Copyright 2022 GMO Financial Gate, Inc.

3.1 Growth strategy on mid-term target
Strategy to expand market share through sales of payment terminals is making steady progress against
targets. Focusing on “Vertical expansion” has created a virtuous cycle of next Horizontal expansion(acquisition of new merchants)
2022 *actual

2023 *Forecast

Consolidate OP¥740 million¥930 million

GMV¥2.5 trillion¥3.7trillion

Target1. Acquire multi-industry/high-growth enterprises by launching next-generation multipayment terminals
Initial, Stock, Fee⚫ In addition to large account, the number of SME merchants (sta pack) steadily increased⚫ Newly acquired large account such as pharmacies/drugstores and electronics retailers⚫ Continued to cultivate new merchants by promoting software development that meet merchants’ needs

2024

2025

Over
¥1,000 million¥1,500 million¥5 trillion
FY2020 Rev. level

CAGR25%1

1¥8.0-8.3
billion¥18～20billionVertical2. Expand IoT payments by supporting contactless (tap) and unattended payments
Initial, Stock, Fee⚫ Started offering terminal-less payment (QR) for vending machines⚫ Increased the number of cases of introduction in the area of mobility (connected to our center), suchas buses and railroads in urban areas

Horizontal
expansion2¥1.0-1.3
billion¥2.5～3billionVertical⚫ Promoted development of house points at railway-related commercial facilities (department stores,
shopping centers, etc.)⚫ Started offering QR payments at ticket vending machines, expanding monetization points

Horizontal

2

3. Acquire large accounts through expansion of alliances with QR, points, etc.
Stock, Spread

FY2026 Rev. level (assumption)

Horizontal

3

3¥0.1-0.2
billion¥0.5～1billion

4. Increase added value by strengthening processing center functions
Stock, Fee⚫ Electronic storage of sales receipts expanded⚫ Data sharing service push up Stock revenue⇒Increase in the number of subscribers to data sharing service, mainly major retailers⚫ Promoted DX within the company(GMO-FG) and merchants through billing and payment
management system. Payment system is in operation. Billing system project underway with the aimof starting operation by the end of FY2023

Labor force saving
support through self-chekout register etc(Vertical expansion)

44¥0.2-0.3
billionVertical

Copyright 2022 GMO Financial Gate, Inc.

Horizontal¥0.5～1billionVertical
expansion
Strengthen
・Fintech services
・ Money services
・ Data businessat appropriate timing23

3.2 Manned terminal-operation progress

Action Plan： 1

2

3

4

Steady progress in developing merchants regardless of industry or size
Number of active terminal（Manned terminal）（Unit : Thousand）

MannedTerminal（単位：千台）End
of Q4 End of Q1
FY2020
FY2021

End of Q2
FY2021

End of Q3
FY2021

End of Q4
FY2021

End of Q1
FY2022End of Q2
FY2022End of Q3
FY2022End of Q4
FY2022

45.4

56.8

68.7

83.0

95.4

111.6

126.0

Launched stera

30.3

36.7
+6.4

+8.7

+11.4

+11.8

Measures to increase active terminals：Accumulating solution asset

+14.4

+12.4

+16.2

QoQ
(%)

YoY
(%)

+14.4

+57.3

(+12.9％)(+83.6%)+14.4

Recent main forecasts / potential merchants’ industries

Vertical expansion
Accumulation of solution
assets through tailormade
company support

Vertical x Horizontal expansionof solution assets⇒Increase acquisition efficiency and speed
Karaoke

Horizontal expansion ofsolution assets

Horizontal
expansion

Copyright 2022 GMO Financial Gate, Inc.

Fast food / Restaurant

Amusement
Park

Pharmacy/
Drug store

Hotel

Public service
agencySupermarket

Railway-relate
Shopping center

Shopping center

24

3.3

Expansion of Payment Platforms - Public Sector

Action Plan： 1

2

3

4

Although the current volume of cashless payments at public institutions is small compared to privatesector merchants, there are many public institution outlets throughout Japan, contributing to increased
awareness of cashless payments
Track record of cashless support at public institutions

Transaction trend in public institution A

Public & small amount payment

GMV

Transaction volume

Police station/ Drivers’ license center

GMV +30.1%YoY*(Tokyo)Public & small amount payment

City office hal* Increase in pure cashless
payments, not due to increasein number of terminals

Transaction volume / GMV

Public＜Private

Public & small amount payment

School/ Educational institutions

Public & small amount payment

Mobility domain

Number of outlets &counters per accountRising with increased awarenessAccumulation of cashless successexperiences among users

Public＞Private
Aug

Sep

Oct

2021～
Fully installed
terminals
Copyright 2022 GMO Financial Gate, Inc.

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

2022～

25

3.4

Expansion of Payment Platforms - Mobility

Action Plan： 1

2

3

4

Even before the recovery of inbound demand and various domestic events, VISA touch boarding in themobility area gradually penetrated the market. Expanded the use scene of credit card payment andcontributed to increased user recognition
Number of mobility transactions at city areas

Oct

Sep

Aug

Jul

Jun

May

Apr

Mar

Feb

Jan

Dec

Nov

Jun

Oct

2021～

Sep

Apr

① Recovery in inbound demand

May

Expected to expand due to factors such as:

AugKansai Transportation Company A*High-speed bus
companies aremarked only intheir head officelocations.

Jul

Current Mobility Area Trial Areas

2022～② Introduction of new bank notes

Aug

Sep

Oct

Jul

Jun

May

Apr

Mar

Feb

Jan

Dec

Nov

Oct

Sep

Oct

Jul

Sep

2021～

Aug

Aug

Kyushu Transportation Company B③ Osaka Expo

2022～

Metropolitan Transportation Company C

Jul

Jun

May

Apr

Mar

Feb

Jan

Dec

Nov

Oct

Sep

Aug

2021～
Copyright 2022 GMO Financial Gate, Inc.

2022～

26

3.5

Status of terminal-less payment initiatives

Action Plan： 1

2

3

4

We have been working on terminal-less payment since 2020. We are preparing for the future expansionof terminal-less payment and expanding monetization points related to terminal-less payment
History of our approach to terminal-less payments

Dec 2020

Initiatives for terminal-less payment (QR code payment at vending machines)

Launched terminal-less NFC touch payment service with Soft Space

October 24, 2022
To whom it may concern
GMO Financial Gate, Inc

Dec 2021

Oct 2022

Started handling JCB touch payments on Nagaden Bus

Began offering terminal-less QR payment service for vending machines

Terminal-less Cashless payments now available~ Frozen food vending machine "Do-Hiemon" touch panel QR code payment started~
GMO Financial Gate Inc (President: Kentaro Sugiyama, hereafter "GMO-FG"), a GMO Internet
Group company developing a face-to-face cashless payment platform, has been promoting the
introduction of "electronic money" and "QR code (*1) payment" at the cashless payment
terminal (CRW-MJC02) of Sanden Retail Systems Co. Sanden Retail System Corporation has
been promoting the introduction of "electronic money" and "QR code (*1) payment" at the
cashless payment terminal (CRW-MJC02) of the "Do-Hiemon" frozen food vending machine,which has been sold from the end of January 2021.
Now, for all "Do-Hiemon" series, "QR code payment" will be completed only by touch panel
operation on "Do-Hiemon" without the need for a new cashless payment terminal.

FY2023～

Plans to start providing NFC tag touch payment with a major food company

GMO-FG is providing the same payment platform for the introduction of QR code payment
using the touch panel as it does for the use of cashless payment terminals. GMO-FG has been
supporting cashless payment without payment terminals in the non-goods retail sector, such as
public transportation, including railways and buses. This is the first time that GMO-FG isoffering this service without payment terminals in the physical retail sector.
This will enable the promotion of cashless payment at "Do-Hiemon" locations where cashless
payment terminals have not yet been installed. The QR code payment service is scheduled tobe launched in mid-December.

Copyright 2022 GMO Financial Gate, Inc.

27

3.6 Status of ESG Initiatives as a Cashless Platform Company
As we expand our business, we have an increasing social responsibility to fulfill, and we are stepping
up our ESG initiatives. ESG-related data is scheduled to be disclosed in near future. Plans to continue
disclosing and monitoring ESG data every fiscal year
Disclosure content
E（Environment）
ESG

Creating an eco-friendly society

Initiative
New

S（Social）

Updated version
to be publishedin FY2023

Human Resources, Vocational Training/Welfare Program, Work-style Reform
G（Governance)

New

Basic Principles, Board of Directors, Management Meetings,
New Nomination Compensation Committee, Executive Officer Meeting, Audit and Supervisory Board,
Director Compensation, Skills Matrix of our board members, Investor RelationsNew

ESG data

New

Supply chain CO₂ emissions related, Employee related, Governance structure related■Disclosure schedule related to ESG
2022
July

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

2023年
May

Jun

Jul

Aug

Sep

Updated version: ESG-related initiatives to be announced
Supply chain CO2 emission

Measuring based on
our own standards

Acquisition of external certification
Copyright 2022 GMO Financial Gate, Inc.

28

Financial Highlight4
Copyright 2022 GMO Financial Gate, Inc.

4.1 Profit & Loss
Gross profit margin is now at cruising level due to growth in stock-model revenue, despite increase inpercentage of low gross margin stera terminal. OP was approximately in line with the plan due toadditional investment in SG&A expenses that exceeded the plan

(Unit：Thousand yen)

FY2021
actualFY2022
actualYoY

Revenue

7,089,506

10,295,454+45.2%

COGS

5,068,985

7,527,314+48.5%

Gross profit

2,020,521

2,768,140+37.0%

SG&A

1,431,185

2,027,612+41.7%

Operating profit

589,336

740,527+25.7%

Ordinary profit

619,341

745,831+20.4%

Profit attributable to ownersof parent

411,378472,523+14.9%

Copyright 2022 GMO Financial Gate, Inc.

30

4.2 Revenue by business model（YoY）
In addition to a steady increase in the number of active terminal, a recovery in face-to-face cashless
payment market due to the lift of the quasi of state of emergency has contributed to a steady increase in
Stock-model revenue
Initial

Stock

Fee

Spread

950
1,317
866
765
534
624

662
305
488

7,163

5,166

2,235

FY2020

FY2021

Copyright 2022 GMO Financial Gate, Inc.

FY202231

4.3 Revenue by business model (Quarterly)
Steady growth in Stock and Fees revenue due to an increase in the number of active terminals. Initial
revenue slightly declined as we expected because of its fluctuation model. Spread revenue declined
QoQ due to the impact of COVID
SOE①（Unit :②③

7th spikeof new cases

Quasi ofSOE④

millions of yen）

Q1
FY2020Q2
FY2020Q3
FY2020Q4
FY2020Q1
FY2021Q2
FY2021Q3
FY2021Q4
FY2021Q1
FY2022Q2
FY2022

Initial

626

693

451

465

855

1,103

1,525

1,682

1,455

1,643

Q3
FY2022Q4FY2022

2,137

1,927

New terminal
installation
concentrated

Launched stera

Stock-model

363

367

333

391

430

427

495

569

687

683

841

921

Stock

(110)

(118)

(128)

(132)

(136)

(146)

(160)

(182)

(186)

(206)

(229)

(244)

Fee

(75)

(70)

(80)

(80)

(101)

(99)

(149)

(183)

(262)

(259)

(361)

(435)

Spread

(178)

(180)

(125)

(179)

(193)

(182)

(186)

(203)

(239)

(218)

(251)

(242)

第1回緊急事態宣言

Total

990

1,061

784

Quasi & Seasonality

856

1,286

1,531

2,020

Copyright 2022 GMO Financial Gate, Inc.

2,252

2,141

2,327

7th spike of new cases

2,978

2,849

32

4.4 Balance sheet
Stable cash position and favorable Merchandise (Payment terminal) at the end of the period remained atabout the same level as at the end of Q3. No significant change in terminal procurement status
End of Q4 FY2022（Thousands of yen）
Current liabilities

Cash & Cash equivalents(38.0%)

1,928,786

2,519,186

Non-current liabiliries

38,571
Merchandise (Payment terminal)

1,506,845
Other current assets

Total equity(70.4%)

4,670,658◼ Points
Merchandise
Decreased approx. ¥40 million from the end of Q3. Appropriate
inventory management will be continued with an eye on sales forecast
and procurement market conditions.
Although some terminals are experiencing a prolonged procurement
lead time, there is no noticeable negative impact on major terminals,
centering on stera.
Although price increases have been requested for some terminals andpaper rolls, we plan to maintain appropriate gross profit levels by
passing on the cost of these products to merchants.

884,270
Non-current assets

Cash and Cash Equivalents

1,496,696

Asset

Increased approx. ¥300 million from the end of Q3 due to steadyterminal sales

Debt
Copyright 2022 GMO Financial Gate, Inc.

33

4.5 Consolidated KPIs（No. of Active Terminals）
Growth driven by manned terminal, centered on stera, and steady expansion of Unmanned(IoT) terminal.
Sold by others remained almost flat, but the impact on business performance is small（Unit:
thousand）

FY2020Q3

FY2020Q4

FY2021Q1

FY2021Q2

FY2021Q3

FY2021Q4

FY2022Q1

FY2022Q2

FY2022Q3

FY2022
Q4Manned

27.7

30.3

36.7

45.4

56.8

68.7

83.0

95.4

111.6

126.0

26.1

28.0

29.1

30.9

33.6

39.8

42.3

43.2

44.6

45.6

Sold byothers

13.6

14.4

14.9

16.7

16.7

16.4

17.9

17.7

18.0

17.9

Total

67.3

72.7

80.7

93.1

107.2

124.9

143.2

156.3

174.2

189.5

Unmanned(IoT)

Copyright 2022 GMO Financial Gate, Inc.

QoQ
(%)

YoY
(%)

+14.4

+57.3

(+12.9％)(+83.6％)

+1.0

+5.8

(+2.2％)(+14.6%)

▲0.1

+1.5

(▲0.5％)(+9.1%)

+15.3

+64.6

(+8.8％)(+51.8%)34

4.6

Impact of GMO Data (consolidated subsidiary) becoming profitable

GMO Data, a consolidated subsidiary of GMO-FG, became profitability in FY2022. YoY growth rate ofprofit of attributable to owners of parent is temporarily low due to the completion of loss distribution
attributable to noncontrolling shareholder (profit return to GMO-FG)

49%

51%

Loss attributable
to noncontrollingshareholder

Profit Increase

Break even

Profit attributable
to noncontrollingshareholder

49%

Profit attributableto owners ofparent51%

From FY2022
49% of profit goesoutside GMO-FG

Until FY2021
49% of loss goes outside GMO-FG(= pushing up profit of attributable to owners of the parent)

Loss attributableto owners ofparentCopyright 2022 GMO Financial Gate, Inc.

35

Appendix

5
Copyright 2022 GMO Financial Gate, Inc.

GMO-FG Business Domain

Business Model

GMO-FG is focusing on offline payment（リアル店舗決済 ＋ IoT決済）

Company nameBusiness
Domain

GMO Financial Gate
(Payment at Brick & Mortar + IoT)

GMO Payment Gateway(EC)

Payment by passing card/QR codeover the reader

Payment by entering credit card
information in PC / mobile phone

Payment terminal

EC (terminal is unnecessary)

Payment
methodMedium• Physical hardware network• Proprietary programming code specifications• Regulation

Copyright 2022 GMO Financial Gate, Inc.

37

Rev Models: Financial Gate vs. Payment Gateway

Business Model

Initial revenue in offline payment is tend to be fluctuate because of its seasonality of terminal delivery

FG

PG
Revenue

Revenue

１Q

２Q

３Q

４Q

Time

１Q

１Q

２Q

３Q

４Q

Initial Revenue（Terminal Sales・Software Development）

Initial Revenue（Initial Set up Fee, etc…）

Stock, Fee, Spread Revenue

Stock, Fee, Spread Revenue

Copyright 2022 GMO Financial Gate, Inc.

１Q

Time

38

Three Biz Models Over a Single, One-Stop Platform

Business Model

One-stop platform covering all settlement processes between merchants and acquirers
Consumer

Merchants

FG

Various
Payment
Methods

Terminals

1
Payment
Terminal

Various Payment
Methods

Acquirers

Terminal Sales
Business

Credit Card Issuer

Flow Revenue

Bank
Payment
Terminals

Payment Scene

2

RetailRestaurants

Service

Mobility

Payment
Processing

Payment Processing
Business

Payment
Processing

E-Money Vendors

Stock Revenue

etc

Points Vendors
Purchase

IoT

Vending Machines/
Coffee Machines
Checkout Machines(Country Club/
Hotel)

3
Comprehensive
Clearing

Acquiring
Business

Clearing

QR Code Payment
Vendors

Stock Revenue

Metered Parking
etc
EV Meter

Copyright 2022 GMO Financial Gate, Inc.

39

Stock Revenue Expansion Originating From Terminal Sales

Business Model

Stock revenue grows with flow model revenue which is mainly coming form the sales of payment
terminals

Revenue Model

Flow Model Rev

3 Business

4 Types of Revenue%(FY2022)

Initial

69.6％

Stock

8.4％

Fee

12.8％

Spread9.2％① Terminal
Sales
Business② Payment
Processing
Business

Stock Model Rev③ Acquiring
Business

Copyright 2022 GMO Financial Gate, Inc.

40

Players in offline cashless payment setting

Business Model

Sales activity to merchants/Clearing of merchant transaction
offlinePayment Processing
CenterMerchants

Offline market
POS vendor

Terminal manufacturer
Domestic makerOverseas maker

Processing center (CCT)

Payment
Network

Domestic network

Acquirer

International network

Card company
Bank etc

Legacy POS
Mobile POS

Vending machine manufacturers /Self checkout register manufacturers

Financial
Institutions

Payment Brand
ASP center (POS)
E-money center

Code payment gateway

Int’l card brandE-money
Domestic code payment
Foreign code payment

Acquiring Partner
Mobile POS

Our monetization points
Initial Revenue
Stock Revenue※Activation of payment terminals～Connect to our processing center

Alliance partner

Fee Revenue※Booked in stock revenue occasionally depending on contract type※Excluding roll paper sales
Copyright 2022 GMO Financial Gate, Inc.

Spread Revenue
41

Image of rise in Rev & OP

Business Model

Phase1: Focus on sales/activation of payment terminals and revenue will be fluctuated.
Phase2: Expansion of Stock-Model revenue

Increase of Market Share (approx. up to 2025)

Rise in Profit Margin

Revenue: Increase at a CAGR of 25% or more, although the extent of increase will vary from period to period
Operating profit: Continue to grow 25% or more every fiscal year
RevenueOP

Sales may fluctuate significantly from period to period

Copyright 2022 GMO Financial Gate, Inc.

42

Leveraged Growth Model

Business Model

Fee and spread revenue are expanding with the market /growth in membership merchants

Leveraged Growth
N＋1
Stock revenue

N
Stock revenue

Stock-Model Revenue
SpreadLinking with the growth of
TAM / membership merchants

Fee

Stoc-model
revenue before N-1

Stock
Q1
1Q

Q2
2Q

Q3
3Q

NN期

Q4
4Q

Q1
1Q

Q2
2Q

Q3
3Q

N+1
N+1期

Q4
4Q

Q1
1Q

Q2
2Q

Q3
3Q

Linking with the number ofaffiliated merchants

Q4
4Q

N+2
N+2期

Stock
N-1期（ストック）Fee
N-1期（フィー）SpreadN-1期（スプレッド）

N期（ストック）
Stock

N期（フィー）Fee

N期（スプレッド）SpreadStock
N+1期（ストック）

Fee
N+1期（フィー）SpreadN+1期（スプレッド）

Copyright 2022 GMO Financial Gate, Inc.

43

Details on each revenue ①
InitialBusiness Model

Content

Payment terminal
sales

This is a sales revenue of payment terminals from merchants or credit card companies.
All of first, we purchase hardware from manufactures. And confirm certain measures of
payment methods that each merchant needs to accept. Then make these methods toconnect to our processing center（Occasionally, we put some customization to theseterminals)

Softwaredevelopment

It is a type of development that meets customers needs such as widening acceptablepayment measures and adding point-payment functionality

Stock

Rev Model• Terminal Selling Price × Units Sold
✓ There’re around 10 types of terminals✓ Price range is from about ¥20K up to ¥100K• No. of Deals × Ordered value✓ Since software development is tailor madetype revenue, deal size and margin vary fromtime to time

Content

Data sharing

It is a service that provides merchants with their daily sales data that go through ourprocessing center. We charge it as monthly fixed fee

Points＆QR

It is a service to add point/QR payment app to the terminals merchants have. We charge it
as monthly fixed fee

Rev Model• No. of contracts × Service Price

Rental(Mobile terminal)
Mobile SIM

It is a SIM card fee to use mobile type terminals. We charge it as monthly fixed fee

Processing

It is a processing fee based on monthly fixed rate

(Monthly fixed fee model)✓ Service price is around ¥500 to ¥1K per
terminal per month

It is a service to rent mobile type terminals that enable merchants to use them in wirelesssetting. We charge it as monthly fixed fee*Basically, it is defined as “Fee” revenue when it comes to the case we charge as Pay As You Go billing, not fixed rate

• No. of contracts × Monthly Fixed Fee✓ Monthly fixed fee will vary depending on thesize of contract etc..

Generally, the economics of services above vary depend on merchants. And there are services that some merchants do not apply
Copyright 2022 GMO Financial Gate, Inc.

44

Details on each revenue ②

Business Model

Fee

Content

Processing

It is a fee we charge toward monthly transaction volume based on the rate per transaction

Sales ofroll paper

This is a sales of roll paper that is used with payment terminals at stores• TRX Volume× Processing Fee✓ Processing fee is about ¥2 to ¥3 pertransaction• No. of Order × Price of Roll Paper

NewElectronic storageof sales receipts

Rev Model

Optional service to store vouchers electronically, sales to be billed based on the number ofpayment transactions subject to the contract✓ The price range of roll paper is about ¥130 to¥200.

• Number of settlement
processes subject to contract x
unit processing fee✓ Unit processing fee is about ¥1 per transaction

SpreadAcquiring（Settlement agent）

content
We charge spread fee (α) towards clearing amount to merchants

We received indicator rate (N) from acquirers, then we acquire merchants instead ofacquirers with the new rate (N+α＝merchant fee)

Copyright 2022 GMO Financial Gate, Inc.

Rev Model

GMV of Agent Contract
×
Spread fee we charge (about 0.3～0.4%)

45Fee ARPU (Fee revenue divided by Transaction volume)

Business Model

Strengthening electronic slip storage services in anticipation of a paperless society in the
futureAlthough there is a possibility of offsetting paper roll sales in the future, currently it is a factor
that increases the unit price of fees
◼ Composition of Fee ARPU

◼ Fee ARPU（Fee revenue divided by Transaction volume）（Unit：Yen）

5.00

4.71

4.80

Low

4.60

4.39

Image of linkage ratio to the number oftransaction volume

High

4.40

4.12

4.20

4.03

4.00

3.87

3.78
3.80

③
②
①

3.74
3.59

3.60
3.40

New
Electronic voucher
storage fee

Growing trend of subscriptions

Roll paper sales
Processing fee
Number of transaction volume

3.20
3.00

Q1
FY2021Q2
FY2021Q3
FY2021Q4
FY2021Q1
FY2022Q2
FY2022Q3
FY2022Q4FY2022*Length is an image and does not reflect actual numbers or scale

Copyright 2022 GMO Financial Gate, Inc.

46

Relationship Between Spread Revenue and GMV

Business Model

We do not necessarily generate spread revenue for every transaction. This is due to the fact that credit
card companies have historically acquired major participating merchants on their own. Therefore, we
calculate spread revenue as GMV × Take Rate × Contribution Ratio① Direct Contract

Enjoyable Revenue
Payment Processing

Payment Processing

InitialMerchant Fee

Stock

Clearing

Fee

Merchant

Acquirer② Agent Contract（*Clearing amount for Agent Contract ÷ GMV＝Contribution Ratio）
Payment Processing

Spread Revenue (B)Payment Processing

InitialStock

Remittance (A-B)

Clearing Amount (A)Fee

Merchant Fee

Merchant（In cases where participating merchants pay
membership fee to acquirers directly）

Spread＊Acquirer＊GMV＝①Direct contract＋②Agent contract
Copyright 2022 GMO Financial Gate, Inc.

47

Relationship between number of active terminals & stock rev

Business Model

In addition to the increase in the number of active terminals, revenue opportunities for Stock revenue
will increase, but the status of subscriptions to paid services will differ depending on the needs/demandof merchants
Terminals we offer

Merchants（Acquisition opportunity image of Stock revenue）
Stock Revenue
Non-Stock Revenue

Floor-Standing Model

Mobile Modelmerchant B
merchant A

Embedded Model

POS Model

merchant C

The status of subscriptions to paid services that
contribute to Stock revenue varies depending on thetype of merchants and terminals

merchant D

merchant F
merchant E
Copyright 2022 GMO Financial Gate, Inc.

48

Monetization by Payment Method

Business Model

We operate different business models according to payment method as a cashless platformer. Growthin each payment method contributes to our growth as well

Flow model revenue① Initial

Stock model revenue➁ Stock③ Fee④ Spread

Credit・China Union Pay・Jdebit

E-moneyー

QR code

ー

Point

ー

ー

House point・House E-money

ーー

Duty exemptionーー

Copyright 2022 GMO Financial Gate, Inc.

49

Revenue Model by Merchant SizeBusiness Model

We mainly acquire medium- to large-sized merchants through alliances with major financial institutions.
We mainly acquire small merchants (=long tail segment) through our subsidiaries：Main revenue stream：Realization of therevenue varies fromcontract to contract◼ Revenue model related to the size of merchant◼ Four types of revenue model① Initial

Terminal sales, Softwaredevelopment, Initial registration
fee, etc…

➁ Stock

Monthly recurring revenue,
communication fee of terminals, etc…

③ Fee

Processing revenue related to TRX
volume, Receipt paper sales, etc…

④ Spread

Commission fee based on TRX value

①

①

①

Copyright 2022 GMO Financial Gate, Inc.

Large

➁

③

Medium

➁

③

Small

➁

③

④

④

④

50

Medium-Term Strategy Acquiring major merchants by focusing on alliances

Business Model

Meeting customer needs through enhanced credit payment functions and alliances with QR / points
vendors

CreditE-money

QR codeJ-debitCommon Points

Duty exemption

House points

Terminals we offer

Floor-Standing Model

Mobile Model

Embedded Model

POS Model

Cashless Platform

Copyright 2022 GMO Financial Gate, Inc.

51

TRX-increase through cashless penetration

Business Model

TRX volume & value tend to go up in a few months to six months after the merchants introduced
cashless payment for the first time
◼ Merchant A（Tokyo） Monthly TRX trend
TRX Volume

TRX Value

Merchant

Cash only ⇒ Introduce cashless
payments
N
N月

N+1
N+1月

N+2
N+2月

N+3
N+3月

N+4
N+4月

N+5
N+5月

◼ Merchant B（Miyagi）Monthly TRX trend
TRX Volume

Consumer（Successful experience⇒change in payment method）

TRX Value

Merchant
N
N月

N+1
N+1月

N+2
N+2月

Recognize convenience

N+3
N+3月

N+4
N+4月

TRX volume/value
per terminal will increase◼ Merchant C（Wakayama）Monthly TRX trend
TRX Volume

TRX Value

Stock-Model revenue will increase
N

N月

N+1

N+1月

N+2

N+2月

N+3

N+3月

N+4

N+4月

Copyright 2022 GMO Financial Gate, Inc.

52

TAM(Total Addressable Market)

Market Environment

Transaction Value of cashless (face-to-face) payment is expanding rapidly, as the value of IoT /Unattended◼ Offline Transaction value in Japan
Private sector final
consumption expenditure in
Japan (includes cash
payments)◼ Potential market value of IoT/Unattended
Potential market size for
IoT/Unattended (our prediction)¥278 trillion*2(2020)* Due to the spread of coronavirus infection
Dropped to the same level as during the Lehman shock¥30 trillion*3(2020)¥128 trillion*1(2025)¥0.2
trillion¥95 trillion*1(2022)GMO Financial Gate Transaction value
in IoT/Unattended business¥2.5
trillion

Market foroffline cashless (face-to- face)payments

GMO Financial Gate TRX value(FY2022 Actual)◼ To achieve ¥1.5 billion in operating profit for FY2024：
Expand IoT/Unattended business driven by contactless payment(touch payment) and unattended registers(*1) Source: Cashless Roadmap 2019, PAYMENTS JAPAN; Current Status and Future Forecasts for Online Payment Service Providers, 2018, Yano Research Institute Ltd.
(*2) Source: Cabinet Office, Government of Japan(*3) GMO Financial Gate internal forecast based on statistical data published by the Cabinet Office, Government of Japan, the Japan Vending System Manufacturers Association, and the Japan Parking Business Association(*4) Source: Japan Ministry of Economy, Trade and Industry

Copyright 2022 GMO Financial Gate, Inc.

53

Growth trend of domestic offline cashless market

Market Environment

The market for offline cashless payments is currently ¥92 trillion, six times larger than the
online market. Cashless penetration is expected to rise to as much as 80%, driven by
government-led cashless policies（Unit : trillion yen）
Offline cashless market size (Left axsis)

Cashless penetration rate (Right axsis)

Online cashless market size (Left axsis)

80%

80％

140
127.7

70%

Long-term

116.3

120

60%

105.7

94.5

100

50%
80

83.4

79.3

40％

40%

32.5%

60

30%

29.7%
40

20

20%
19.3

20.7

21.8

23.0

24.3

25.7

10%

0

0%
2020(actual)2021(actual)2022(Estimate)2023(Estimate)2024(Estimate)2025(Estimate)

Source: Cashless Roadmap 2019, PAYMENTS JAPAN; Yano Research Institute Ltd.

Copyright 2022 GMO Financial Gate, Inc.

54

Composition Ratio of Domestic Cashless Payment Methods

Market Environment

Even in an environment of significant growth in the proportion of QR codes, transaction value andvolume of credit continue to growTransaction Value
Composition

Transaction Volume
2019

2020

2021

Credit

89.7%

86.8%

85.3%

Debit

2.1%

2.5%

E-money

7.0%

QR code

1.2%

2019

2020

2021

Credit

60.7%

58.2%

55.3%

2.8%

Debit

1.8%

2.3%

2.5%

7.0%

6.3%

E-money

33.1%

27.1%

22.8%

3.7%

5.6%

QR code

4.3%

12.4%

19.4%

(Unit : trillion yen)

(Unit : 100 million yen)Transaction value

120
CreditE-money

Debit

30

1.0
1.7
5.8

3.2
2.1
6.1

Credit
5.3
2.7
6.0

74.9

81.4

20

Debit

QR code

4.9

15

73.8

E-money

25

20

60

40

Transaction volume(absolute value)

QR code100

80Composition

0.8
0.4
6.2

2.7
0.5
5.9

0.7
5.7

10

5

11.4

12.7

13.9

2019

2020

2021

0

0
2019

2020

2021

Source: Cashless Roadmap 2022, Cabinet Office of Japan

Copyright 2022 GMO Financial Gate, Inc.

55

IoT/Unattended Market GrowthMarket Environment

The number of terminals is expected to be equal to or greater than the market for payment terminals inreal stores. Unattended market (= general term for vending/service machine market) is expected to
expand further due to changes in the external environment such as a decrease in the working
population◼ No of active IoT terminals
Q4 net increase pace slowed in QoQ (+1,000 units), but
sales are strong. Sales are piling up every quarter.
Aiming for further acceleration in the future

4.5 million◼ Push factors associated with changes in theexternal environment• Declining workforce• Labor-saving support

Unattended

Goods/
commodities

Tickets

Beverages/
sweet treats

MarketSelf-checkoutmachine(Golf/Hotel)

42.3

Metered parking/
EV chargers

Self-checkout
register

45.6

39.8
33.6
26.1

• Retailers moving into offices

28.0

29.1

30.9

21.5

• Revision of the Pro-Sales Act

Coffee44.6（Unit : 1,000）• Obtaining inbound demand• COVID-19

43.2

14.1

Coin-operated
washing
machines

Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
FY2020 FY2020 FY2020 FY2020 FY2021 FY2021 FY2021 FY2021 FY2022 FY2022 FY2022 FY2022

OfflineMarket

4 million
Source: The Japan Vending System Manufacturers Association, Japan Ministry of Health Labor and Welfare, Yano Research Institute Ltd.

Copyright 2022 GMO Financial Gate, Inc.

56

Trends in the number of foreign visitors to Japan

Market Environment

The number of foreign visitors to Japan decreased sharply due to the COVID, but we are also focusing
on preparations for a recovery in demand
Number of visiting foreigners (annually)

Our inbound-related industry merchants（Unit : 10K）

6,000

6,000

Government’s target
by 2030

5,000

Aggressively cultivate merchants in related industries in
preparation for recovery of inbound demand
Drug store

4,000

3,000

3,000

Hotel/Travel(medicine/cosmetics)

High-end retail/
Department
store

IoT
自販機/精算機

Service/
LeisureOne dollar
shopElectronics
chain-retailers

Medical /ClinicAchieved back in 2018

2,000
1,000

2030年

2022年

2021年

2020年

2019年

2018年

2017年

2016年

2015年

0

Publictransportation(Train/bus etc.)
July to September：
Seasonality&
Trend of recovery in inboundrelated demand

Number of visiting foreigners (Monthly)
250,000

Transaction volume

Hotel/Travel
Merchant B

200,000

Transaction value(GMV)

150,000

Seasonality＆
Quasi of SOE

Jul-Aug：In-Bound demand spiked
because of the spot factor caused byinternational event held in Japan

100,000
50,000

Copyright 2022 GMO Financial Gate, Inc.

22/9

22/8

22/7

22/6

22/5

22/4

22/3

22/2

22/1

21/12

21/11

21/9

21/8

21/7

21/6

21/10

Source: JNTO

21/5

21/4

21/3

Sep

Jul

Aug

Jun

May

Apr

21/2

2022

Mar

Feb

Jan

Dec

Nov

Oct

Sep

Aug

Jul

Jun

May

Apr

Feb

Mar

Jan

2021

21/1

2020

Dec

Oct

Nov

0

57

Strategy to Maximize Transaction Value

Growth Strategy

We created a new payment processing route with alliance partners. This route increases GMV, as theroute reduces costs to participating merchants and acquirers

Merchants

Restaurants

Conventional
Route

RetailAcquirersCompetitor/Peer Terminals
Processing
Center

Payment
Network

1

2
Credit Card
IssuerServices

MeteredParking/
EV Meters
etc・・・

Reduced costs toparticipating
merchants

New GMO FG
Route

Vending
Machines

Cost Reduction

Bank

compared to conventional routeg a t e w a y
Global payment network

Reduced costs toacquirers

Cost savings via new route leads toimproved competitive capability of alliance partners
Copyright 2022 GMO Financial Gate, Inc.

58

Strategy to Maximize Transaction Value

Growth Strategy

Maximize GMV through a new processing network and by pursuing B-to-B alliances(*1)

Offline Cashless (face-to-face)Market (2025 E)

GMV： ¥111 trillion/year

Offline Cashless (face-to-face)Market (2021 E)

GMV： ¥92 trillion/year

Continuous
GrowthAim to achieve more

18x+αAlliance partner
VJA (Visa Japan) Group,
including Sumitomo Mitsui Card
Company, Limited

GMO-FGthan
GMV in 10 to 15 years(*2)

GMV：¥22 trillion/year

GMV：¥2.5 trillion/year

approx.

18x

2022

2030～2035(*1) Source: Cashless Roadmap 2019, PAYMENTS JAPAN; Current Status and Future Forecasts for Online Payment Service Providers, 2018, Yano Research Institute Ltd.
(*2) Source: VJA

Copyright 2022 GMO Financial Gate, Inc.

59

Progress in Unmanned Terminal (IoT) Business

Growth Strategy

Strengthening alliances in the unmanned terminal (IoT) field in response to the trend toward manpowersaving. Promoting various projects with an eye on future data monetization
2021

Launched
To be released

Hotel/golf course self
checkout machine

Flow model biz

Oct

2022
Dec

Mar

Jun

Delivery of approximately 40,000 payment
terminals completed

Progress
Sep

Replacement of existing installed
terminals

Fee revenue from terminal operation

Stock model biz
Parking lot
checkout machine

Flow model biz
Stock model biz

ticket machine

Flow model biz
Stock model biz

Self checkout register

Flow model biz

Expansion into acquiring business*no change from previous

New Topic

Introduction to new leading parking lot checkout
Introduction to major
machine vendor
parking lot operator
Stock, fee, and spread revenues from terminal activation
DX expansion
DX: Digitalization of parking tickets, planning to unify online reservation and payment
settlement

Informal agreement on the
successor to the installed payment
terminal with our terminalFees andspreads on existing terminals
remained steady*no change from previous

EV Charger Settlement Machine
Started proposing terminals tovendors. Plans to expand to outdoor
payment machines other than parking
lots. Start of full-scale operation by amajor payment machine vendor

Growing demand associated with new lifestyles
Electronic Money
All brand certification completed

QR code payment system isscheduled to be launched in
Expansion of stock-model revenue
Q4. Expected to contribute to
Expansion to QR code payment *no change from previous stock revenue
Plans to install additional terminals
at self-checkout counters in 100-yen
discount stores, aiming to further
expand the use of IoT payment
terminals as a core area of business

POC in multiple smart stores
full-scale operation

Stock model biz*no change from previous

Beverage and vending
machines/Coffee Machines

Flow model biz
Stock model biz

New Topic

Introduction to new vending machine vendor
Began operation of terminals for beverage vending
machines at highway SAs.
Began installing QR payments for beverage vending
machines*no change from previous

Copyright 2022 GMO Financial Gate, Inc.

Vendor of vending machines for cosmetics
and other products completes
development of electronic money and QR
code payment systems. Full-scale QR
operation begins at vending machines60

Growth Strategies for 2025 and Beyond

Growth Strategy

For 2025 and beyond, we aim to grow stock-model revenue in the payment-related field.
Aim at a continuous 25% growth in OP through business diversification：High inbound tourism demand

Image of service expansion

Area of focus
Money services / Payment related New Biz

OP (100 million yen)

• Fintech (Lending / Factoring / BNPL etc.)

Profitability increase phase100

Data service• DX/marketing support using payment data

OP of 25% or more
Continuation of growth curve
Money services/Payment related New Biz

Diversification of alliancestrategies

IoT (Mobility)• Contactless payment processing fortransportation systems (trains, buses, etc.)

Data service

IoT (Vending / checkout machines)

Stock-Model Revenue

Market share increasephase• With & post COVID-19 / labor-saving / selfservice support

IoT (Mobility)

Payment terminals (excluding IoT) / Payment processing / Acquiring

15
Payment Center• Continue to acquire a balanced
member merchant base, regardless of
size or industry, as our businessfoundation

Payment terminals(excluding IoT)

Payment terminals (excluding IoT) / Payment
processing / Acquiring

Initial & Stock-Model

IoT (Vending /checkout machines)

Time
2021

2025

2035

Copyright 2022 GMO Financial Gate, Inc.

61

Data Services in the IoT Domain

Growth Strategy

Started providing payment data service for merchandise vending machines, contributing to stock-model
revenue. Supporting merchants' operational efficiency improvement and sophistication (DX) using data
IoT
Payment
terminals

Appropriate stock replenishment and cash
collection

Vending machine operator

payment processing

Start providing data sharing service to merchandise
vending machines for food service (ramen, gyoza, etc.)⇒Contribution to stock-model
revenueAchieve efficient staffing andfood loss reduction

Vending
machinemanufacturer

DX Support

Provide payment data (sales
information)

Image of introduction

phase ２DX in member merchants

New

Provide payment data (sales information) to alliance partners⇒Strengthen marketing and increase revenue by using sales
information (product, season, region, etc.)

Provision of payment data (sales information) to vending machine
manufacturers⇒Improve operational efficiency by remotely managing inventory at an
appropriate level

phase 1
IoT payment/acquiring

Provision of IoT platform

Payment terminals (IoT)

Initial &Stock-Model

Payment Center

Stock-Model
Revenue

Present

phase ３
DX in member merchants(sales improvement)

Time
Copyright 2022 GMO Financial Gate, Inc.

62

Alliance Overview

Growth Strategy

Working with alliance partners allows us to secure participating merchants consistently and steadily

Alliance Partners

Payment/
Financial
Institutions

Unattended
Terminal
Manufacturers

POS
Manufacturers

GMO Group
Synergies

Copyright 2022 GMO Financial Gate, Inc.

Vending Machines

Metered Parking
EV Meters

Laundries

Entertainment

TravelWholesalers

Real Estate

Occupation/
Vocational Schools

Healthcare/Welfare

Hotels/Inns

Bus/Train

Restaurants

Retail Stores

Merchants

63

Unique Positioning

Competitive Advantage

End-to-end solutions via one-stop platform allows us to create alliances with many players in themarket◼ Solutions in Offline Payment Market
Customization(Customize Payment
Methods)

Adaptation of
Top-End POS
Register Models

Terminal
Settlement

ーー

Payment
Processing

Clearing/
Adjustment

Maintenance/
Support

FG

N
N社

Leading payment
大手決済ネット
network playerーー

ワーク事業者

R
R社

Major operating
大手事業会社
companyーー
Using their own registers only

P
P社

Leading payment
大手決済事業者
vendorーーーー

Copyright 2022 GMO Financial Gate, Inc.

64

Barriers to Entry （Regulations to be Followed）

Competitive Advantage

Many kinds of regulations exist in the face-to-face payment market depending on the payment method,
and the number of regulations are increasing. As payment methods become more diversified, thebarriers to entry become more challenging

Law

E-money
Regulation

Modified Partial
Revision of the
Installment Sales
Act

Brand Test
Credit Card
Regulation

Security Standard

PCI DSS
Global security standard in credit card industry
created by international big 5 credit card
brand, Visa, Mastercard, JCB, American
Express and Discover

Payment Center
Regulation

JCCA Certified
Center

EMV Test
International standard of IC Card created by
Europay, Mastercard and Visa

JCCA：Japan Credit Card Association

Copyright 2022 GMO Financial Gate, Inc.

65

Government Promotion of Cashless Payments

Industry Topic

METI* announced its Cashless Vision policy to encourage cashless payments. We expect the Japanese
cashless market to expand rapidly in response
Impact on our business

Present

Jul 2020

Osaka Expo

Issuance of new bank notes

expansion

Lifting the ban on digital salaries

My number point

My number point

Tokyo Olympic/Paralympic

My Number Point

2

2

Casino (Integrated Resort) will start in Osaka

Cashless Consumer Returns Policy

Oct 2019

Consumer redemption projects have resulted in Increase in
the amount of payments processed

With/after COVID, the Expanding Contactless and IoT
Payment Needs

Inbound Demand Leads to Expanding need for cashless
payment terminalsExpansion of mobility payment needs

In line with the cost of adapting to the new banknotes
Stimulus to introduce cashless payment terminals

Apr 2028

Apr 2025

Apr 2024

Apr 2023

Jun 2022

Jan 2022

Jul-Sep 2021

Sep 2020

Jun 2018

Apr 2018

Implementation plan announced for the security ofcredit transactions (by the Council for credit
Transaction Security)）

Enforcement of Revised Installment Sales Act

Announcement of Cashless Vision by METI（

NEW

Increasing demand for cashless terminals as merchants are
obligated to use credit card IC Expanding demand forcashless terminals as merchants become obligated to use
credit card IC

Copyright 2022 GMO Financial Gate, Inc.

Expanding needs for small payments due to the spread of
terminal-less payment taps to pay/phones

66

Expansion of credit card payment eligibility

NEW

Industry Topic

The "Cashless Law" will go into effect in November 2022. Expansion of areas where payment can bemade by credit card

Feb 2008～ national pension contribution

Application ofindividual law
provisions

Jan 2017～ national tax
Apr 2019～ Patent and other fees

Dec 2021～ Unmanned Aircraft Registration Fee

2022 Vehicle inspection and registration fee
2022～ Passport issuance fee
2024～ Registration-related fees

Application ofCashless Laws

Expandingconvenience in the
public sector

Jul 2021～ tariff (import tax)

2024～ Traffic Anti-Counterfeit

Copyright 2022 GMO Financial Gate, Inc.

67

New topic of credit card industry

Industry TopicIn response to a request from the Japan Fair Trade Commission, VISA, Mastercard, and UnionPay
announced their intention to disclose their interchange fee rates by the end of November
Breakdown of MDR（model case：AOV ¥5K SME merchant）

METI requires fee among credit card companies

Brand
fee

Fee among credit card companies is
actually paid by merchants

3.5Internation Brand fee
al Brands①Brand fee
0.05

3Fee among cardcompanies(Interchange fee)

2.5

2.3%

Card
company(Acquiring)
Merchant
fee

Rate inlongtail
couldbehigher
than
this

②IRF

Card
company(Issuing)

Billing
Reimbursing

Billing

Reimbursing

Merchants

1.5

Payment

Goods/Service
s

2.30

2

3.25

Billing

Our monetization points

1

0.16

Consumers➂Remittance fee
0.5④Network fee
0.14
0.3

➄Acquiring fee⑥Others
0.3

0Copyright 2022 GMO Financial Gate, Inc.

68

COVID infections in FY2022

Industry TopicIn Q3, the economy is on a recovery trend due to the lifting of quasi of SOE issued in Q2
In Q4, some businesses were affected by the 7th wave of infection compared to Q3

Number of new cases of COVID-19 infection
300,000

7th wave
250,000

200,000

150,000

100,000

50,000

2020

2021

Source : Ministry of Health, Labor and Welfare

22/10
Oct

22/09
Sep

22/08
Aug

Jul
22/07

Jun
22/06

22/05
May

22/04
Apr

22/03
Mar

Feb
22/02

22/01
Jan

2022

Q1
Copyright 2022 GMO Financial Gate, Inc.

Dec
21/12

21/11
Nov

Oct
21/10

Sep
21/09

21/08
Aug

Jul
21/07

Jun
21/06

May
21/05

Apr
21/04

21/03
Mar

Feb
21/02

Jan
21/01

Dec
20/12

Nov
20/11

Oct
20/10

Sep
20/09

Aug
20/08

Jul
20/07

Jun
20/06

May
20/05

Apr
20/04

Mar
20/03

Feb
20/02

Jan
20/01

0

Q2

Q3

Q4
69

Initiatives for terminal-less payments

Industry Topic

Implemented various measures to prepare for future handset-less payments. Strengthening Initiatives in
the Mobility Domain and Beverage Vending Machines
Status of Our Efforts
Tap to Phone

NFC tagging touch payment

Dec 2021～ NewStarted handling touch settlement of JCB at Nagaden-bus

Planning to launch in FY2022

Aiming to provide services with major food manufacturers

NFC tag on vending machines

Dec 2020～
Launched handset-less NFC-touch payment service with Soft SpaceNew

Terminal-less

Automatic connection
to the internet byholding a smartphone

Select productNo app is needed

Pay with biometrics
Merchandise receipts

Settlement completed(Apple Pay, Google Pay)

High Security
Tap to Phone: Mobile payment service where merchants do not need to prepare cash registers and terminals for payments, and NFC-enabled devices can be used as payment reception terminals.
NFC: An abbreviation for Near Field Communication, a communication standard that can be communicated using contactless IC chips and simply by holding them over.
NFC tag: Tags that allow NFC-enabled devices and devices to perform various operations simply by holding up an NFC-enabled smartphone.

Copyright 2022 GMO Financial Gate, Inc.

70

Share holder structure

GMO-PG

Company Profile

Japanese institutional investors

Other enterprises

Foreign institutional investors

Individuals

100%

90%

80%

70%

60%

13.19

15.11

21.87

18.48

8.14

1.54
6.35

3.15
6.21

59.69

57.05

57.05

End of September 2020

End of March 2022

End of September 2022

16.26

7.84
8.07

50%

40%

30%

20%

10%

0%

Copyright 2022 GMO Financial Gate, Inc.

71

Promotion of DX introduction to improve business efficiency
Department
in charge

Company Profile

Content

Whole

VDI (virtual desktop) implementation for enhanced security

Whole

Integrated operation of scheduling, internal portal, workflow, attendance system, andexpense reimbursement

Whole

Paperless by promoting the introduction of electronic signatures

Legal

Automated credit management operations by introducing RPA. Reduction of workload
by up to 4 days per month

Accounting

Systematization of payment operations, electronic storage of receipts and otherevidence

HR

Centralized management of human resource systems through the introduction of a
new system

GMO-FG
Cashless Platform

Full compliance with PCI DSS for services providing
Continued to obtain Privacy Mark certification
Copyright 2022 GMO Financial Gate, Inc.

72

Affiliated Companies

Company Profile

GMO-FG serves in offline face to face payment market as a consolidated subsidiary of GMO-PG

GMO INTERNET GROUP（Internet infrastructure business）

GMO PAYMENT GATEWAY（Online payment/Payment section of GMO internet group）

Consolidated

GMO EPSILON100%

GMO PAYMENT SERVICE

100%
Equitymethod40%

57.3%（Online payment/Longtail）（Online payment/Deferred payment）

SMBC GMO PAYMENT（Online/Offline payment/）

GMO FINNCIAL GATE

（Offline payment）

Consolidated

100%

51%

GMO CARDSYSTEMGMO DATA

Consolidated subsidiary

Sumitomo Mitsui Credit Card

（Offline payment/Longtail）（Payment processing center）

Copyright 2022 GMO Financial Gate, Inc.

49%

73

Company Profile

Company Profile■Company

GMO Financial Gate, Inc.（TSE Growth Ticker:4051）■Foundation■Address■Stock Capital■Major Shareholder■Board Member

September 1999
Humax Shibuya Building 7F, Shibuya Dogenzaka 1-14-6, Tokyo¥1,618 Million
GMO Payment Gateway, Inc.
Representative Director, President
Kentaro Sugiyama
Director, Chairman
Akira Takano
Director
Akio Aoyama（Sales Division Executive Manager）
Director
Tomonaga Fukuda（System Division Executive Manager）
Director
Tatsuya Koide（GMO Payment Gateway, Inc. Chief Managing Executive Officer）
External Director
Nao Shimamura
External Director
Rie Asayama
External Auditor
Takayoshi Nagasawa
External Auditor
Satoru Ozawa
AuditorTakashi Iinuma（CPA)■Auditing Firm
■Subsidiary

Ernst & Young ShinNihon LLC
GMO CARD SYSTEM, Inc. shareholding ratio:100％
GMO DATA, Inc.

■Businessshareholding ratio: 51.0% (Mitsui Card Company, Limited:49.0％）

Cashless payment infrastructure service (credit card, debit card, e-money etc.)

Floor-Standing Model

Mobile Model

Embedded Model

Copyright 2022 GMO Financial Gate, Inc.

POS Model（As of November 15, 2022）

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y o u

GMO Financial Gate, Inc.
(TSE Growth 4051)
IRサイトURL

https://www.gmo-fg.com/ir/

Copyright 2022 GMO Financial Gate, Inc.