FY2018/5 Financial Results
Gunosy Inc.

First Section of The Tokyo Stock Exchange
Stock (Code: 6047)
July 12, 2018

INDEX

1

2

Financial Results for FY2018

FY2018/5 Financial Results

P03

FY2019 Outlook

FY2019/5 Results Forecast

P14

Management Structure & Business Policy

3Management Structure for Further Growth andManagement Targets

P16

Media  ADNW Business4
5
６

Policies for the Media Business and theAdvertising Business

P21

New Business

New Businesses

P33

Appendix

Reference Materials: Overview of Gunosy Inc.

(C) Gunosy Inc. All Rights Reserved.

P37

1

Financial Results for FY2018

FY2018/5 Financial Results(C) Gunosy Inc. All Rights Reserved.

FY2018/5 Consolidated Results
Net sales increased to 11,200 million yen, up 45%. Operating profit rose to 1,930
million yen, up 28% YoY.
Profit attributable to owners of parent declined 55% YoY due to the effect of a 760 million
yen loss on valuation of investment securities.
(Million yen)

Quarter
FY2017/5
Q４

FY2018/5
Q4

Full year
YonY

FY2017/5

FY2018/5

Forecast on
July 14,
2017

YonY

Net sales

2,117

3,322 +56.9%

7,739

11,201 +44.7%+4.2%

Operating profit

431

568 +31.8%

1,517

1,938 +27.8%-12.1%

Operatingmargin

20.4%

17.1%

-

19.6%

17.3%

-

-

Profit before
income taxes

289

-157

-

1,426

1,231

-13.7%-

Profitattributable toowners of parent

234

-379

-

1,126

501

-55.5%-66.0%(C) Gunosy Inc. All Rights Reserved.

PAGE |

4

Highlights of Full-Year Net Sales
Net sales for Q4 were 3,320 million yen, a significant YoY rise of 57%, and were 104%in comparison with the full-year forecast.
Net Sales(Million yen)

11.20

12,000billion yen

10.74
billion yen

3,322
8,000
2,758

4,000

2,707

2,413
0
Q1

Q2

Q3

Q4

Full-year

Full-year
forecast on
July 14, 2017

FY2018(C) Gunosy Inc. All Rights Reserved.

PAGE |

5

Highlights of Full-Year Operating Profit
Operating profit for Q4 was 568 million yen, up 32% YoY, but the achievement rate of
the full-year forecast was 88% due to the effect of the fall in Q3.
Operating Profit(Million yen)

2,400

1.93

2.20
billion yen

billion yen

568

1,600

444
800

508

416
0
Q1

Q2

Q3

Q4

Full-year

Full-year forecast
on July 14, 2017

FY2018(C) Gunosy Inc. All Rights Reserved.

PAGE |

6

Financial Results (Quarterly)
Both net sales and operating profit set record highs, with net sales rising to 3,322 million
yen (up 20% QoQ) and operating profit increasing to 568 million yen (up 28% QoQ).
Net Sales and Operating Profit

3.32
billion yen(Million yen)

2,707 2,758
2,413
1,959 1,982
1,521

790

892

995

1,006

880

1,680

1,191

486
271

-124

201

285

Q3

Q4

47

2,117

129

184

201

245

Q2

Q3

Q4

Q1

376

464

431

416

508

444

Q2

Q3

Q4

Q1

Q2

Q3

568

-172

-997

Q4

Q1

Q2

FY2015Q1

FY2016FY2017Q4FY2018* For the quarters up to FY2016 Q2, the figures are from the non-consolidated results.

(C) Gunosy Inc. All Rights Reserved.

PAGE |

7

Breakdown of Net Sales
Sales in Gunosy Ads increased 21% QoQ due to growth in NewsPass and LUCRA.
Sales in ADNW rose 11% QoQ due to the continued contribution of the expanding ad
inventories of existing major media. Sales in Others were up 65% QoQ, reflecting thesteady start-up of digwell inc., in addition to Game8 Inc.
(Million yen)
4,000

(Others)(ADNW)(Gunosy Ads)*1

353

3,000

157

214
1,182

92
2,000

52
388
1,000

103

153

81

65

74

39
466

610

606

1,300

1,411

Q3

Q4

974

1,067

1,505

1,574

1,476

Q1

Q2

Q3

815

625

251

853

939

1,175

776

1,080

1,283

Q1

Q2

Q3

Q4

Q1

Q2

1,786

0

FY2016FY2017*1

Sales of Gunosy Ads are the total of Gunosy, NewsPass and LUCRA.

*2

For the quarters up to FY2016 Q2, the figures are from the non-consolidated results.

(C) Gunosy Inc. All Rights Reserved.

Q4

FY2018

PAGE |

8

Cost Structure
Variable costs (ADNW costs, costs for revenue sharing with KDDI) increased associatedwith the rise in net sales. The ratio of variable costs remained stable without majorchange. Expenses increased 104 million yen due to live video production expenses.
Cost Structure(Million yen)

2,753

2,800

2,313

678

Other expenses

524

104

Live video production expenses
Expenses for the change of thelisted market to the Tokyo Stock
Exchange 1st Section
Advertising expenses

2,198
1,997
489

1,582
1,435
1,319

1,400

314
278

1,007
832

877

123

140

443

0

471

173
504

394

80
44

251

22
146
39
56

22
176
53
90

24
198
40
162

236
37
253

308

Q1

Q2

Q3

Q4

Q1

FY2016

23

447

588

1,517
504

389
336

390

562
547

243
494

407

1,686

55

460
55

56

55

55

262

274

293

43

47

48

44
411

413

439

Q2

Q3

Q4

315
55
574

Q1

FY2017

55

Rents

396

Personnel expenses

92

Server expenses

Ad network costs

54
352
336
70
60

693

782

838

Q2

Q3

Q4

FY2018* For the quarters up to FY2016 Q2, the figures are from the non-consolidated results.

(C) Gunosy Inc. All Rights Reserved.

PAGE |

9

Cumulative Total of Downloads
CPA for Gunosy rose due to the impact of seasonal factors, which restrained theadvertising expenses of Gunosy. The number of DLs of NewsPass and LUCRA
increased as planned.

33.54 million DLs(10,000 DLs)
3,500

(Yen)
450

LUCRA

3,084

News Pass
Gunosy2,799

CPA (right axis)

2,515
2,268

300

2,043
1,841
1,618

1,750

746

866

977

1,084

1,191

1,302

1,436
150

515

0

0

Q1

Q2

Q3

FY2015

Q4

Q1

Q2

Q3

FY2016

Q4

Q1

Q2

Q3

FY2017(C) Gunosy Inc. All Rights Reserved.

Q4

Q1

Q2

Q3

Q4

FY2018

PAGE |

10

Total Number of Active Users*1

The number of active users declined for Gunosy. NewsPass and LUCRA offset the
decline of Gunosy, and the total number of active users rose 44% YoY and 9% QoQ.
The overlapping part of the MAUs*2 of Gunosy and NewsPass remained stable at 10% or
less.
LUCRA
News Pass
GunosyQ1Q2Q3

FY2015
*1
*2

Q4

Q1

Q2

Q3

FY2016

Q4

Q1

Q2

Q3

FY2017

Q4

Q1

Q2

Q3

Q4

FY2018Average for each quarter of MAUs (monthly active users) of Gunosy, NewsPass and LUCRA.
The percentage of overlapped MAUs (monthly active users) of both Gunosy and NewsPass. Source: Estimates of Gunosy Inc.

(C) Gunosy Inc. All Rights Reserved.

PAGE |

11

Advertisers
Both the number of active advertisers and major advertisers* increased.
The share of the Health products and Beauty care segments continued to be large.
Number of Active Advertisers(Companies)
1,600

100%
Other advertisers

1,388

Major advertisers*
Percentage of sales of major
advertisers (right axis)

1,396
1,343
1,253

1,211

1,273
1,210

1,239

95%

Segment of Advertisers (FY2018 Q4)

1,098

90%

Human
resources 1%

Real estate
1%

843

Others 12%

782

800

Games 1%636

85%

Finance 5%Apps(excluding games) 7%

Health
42%

80%

221

207

246

261

260

332

345

346

350

324

310

355

0

75%

Q1

Q2

Q3

FY2016

Q4

Q1

Q2

Q3

FY2017

Q4

Q1

Q2

Q3

Q4

Beautycare
31%

FY2018* The number of advertisers whose advertising budget is 1 million yen or more.

(C) Gunosy Inc. All Rights Reserved.

PAGE |

12

Ad Network (ADNW)In ADNW, both CPM and impressions grew steadily.
Number of Impressions and CPM
(Yen)

39.5

(Million imp)
45,000billion imp

imp
38,610

CPM (right axis)

40

39,58536,33033,68030,78830,000¥30.7030,142¥30.7027,348¥25.1015,000¥19.50¥19.80Q2

Q3

20¥21.10¥18.40¥16.90

0

0

Q1

Q4

Q1

FY2017Q2Q3Q4FY2018(C) Gunosy Inc. All Rights Reserved.

PAGE |

13

２

FY2019 Outlook

FY2019/5 Results Forecast(C) Gunosy Inc. All Rights Reserved.

FY2019/5 Results Forecast
The full-year consolidated results forecast shows net sales of 13.9 billion yen,operating profit of 2.5 billion yen and profit of 1.6 billion yen.
(Million yen)

FY2015FY2016FY2017FY2018Sales

FY201913.9 billion yen

Operating profit
Profit attributable to owners of parent

11,201
H2
7,435

7,739
4,599
3,165
562

190

605

1,517 1,126

H1
6,524

1,938
501

2.5 billion yen
1.6 billion
yen

1,380
1,122

898
752

-136
* For the quarters up to FY2016 Q2, the figures are from the non-consolidated results.

(C) Gunosy Inc. All Rights Reserved.

PAGE |

15

3

Management Structure & Business Policy

Management Structure for Further Growth andManagement Targets(C) Gunosy Inc. All Rights Reserved.

Changes in Management Structure
To clarify their roles, the number of representative directors has been changed from two
to one. Fukushima will remain committed to the BC business, aiming for significant
growth in the future.
Old structure

New structure for growth

Representative
Representative

Representative

Representative
Director and CEO
Fukushima

Representative
Director and COO
Taketani

Representative Director and CEO: Taketani

To expand in the media and advertisingbusinesses in the short and medium term, thenumber of representatives has been changed
to one: Taketani, who mainly presided overthe media business in the past.

Newbusinesses

Director and Representative Director of
LayerX Inc.: Fukushima

He will engage in the blockchain (BC)business that will require technicalcapabilities because it has the potential totake a major leap forward in the long term.

Previously, business was led by
the two-representative system.

(C) Gunosy Inc. All Rights Reserved.

PAGE |

17

Redefinition of Our Domains
To maximize business opportunities, we aim to become an integrated Internet company
with the four domains of “media,” “advertising,” “blockchain” and “investment.”
To promote the visualization of management efficiency, we will change from an organization
by function to an organization with a divisional system.

Expansion of business domains
Enhancement of number of products

NewMedia Business

Advertising Business• Gunosy• Our own media• NewsPassadvertising• LUCRA• In-feed ADNW

• Game8• Video ADNW• New media• Affiliate advertising

Blockchain Business(C) Gunosy Inc. All Rights Reserved.

New

Investment Business

PAGE |

18

Allocation of Management Resources
Achieve improved capital efficiency by effectively utilizing assets through M&A and theinvestment business, in addition to existing businesses.

Effective utilization of assets

Investment
Business

Media Business
Investment

Investment funds

Investment

Approx. 8.5 billion yen

Advertising
Business

Investment

Investment

BC
Business(C) Gunosy Inc. All Rights Reserved.

PAGE |

19

Management Policies
Management Targets for 3 Years (FY2019 - FY2021)• Growth rate of operating profit: 25% (average for the period)• Growth rate of net profit: 25% (average for the period)• ROE: 30% (FY2021/5)• Creation of new media• Creation of new advertising businesses• Establishment of a BC company
Measures for
improving ROE• Implementation of M&A• Establishment of an investment companyetc.

(C) Gunosy Inc. All Rights Reserved.

PAGE |

20

4

Media  ADNW Business

Policies for the Media Business and theAdvertising Business(C) Gunosy Inc. All Rights Reserved.

MediaBusiness

Media Business 3-Year Vision

Building of Gunosy information economic sphere

Enhancement of
reliability of media

Increasein service lineup(C) Gunosy Inc. All Rights Reserved.

Increase in MAUs

PAGE |

22

MediaBusiness

Media Business 3-Year Vision

Enhancement of
reliability of media

Increasein service lineup

Enhance reliability by taking
countermeasures againstproblems with current Internet
media, such as click bait, in
addition to strengthening thearticle delivery algorithm.

Aim for the further expansionof the economic sphere byadding new services for newusers, as well as new
functions for current users.

(C) Gunosy Inc. All Rights Reserved.

Increase in MAUs

Aim to maximize the numberof visiting users on a monthly
basis, instead of on a daily
basis, to expand the service
lineup to domains other thannews.

PAGE |

23

MediaBusiness

Media Business 3-Year Vision

Increase MAUs in existing businesses through improved service quality, function enhancement and active
promotion.
For new businesses, enhance the media lineup through our own launch and cooperation with othercompanies.
Existing businesses

New businesses

GunosyOne of the largest general smartphone
information applications in Japan with24 million DLs

NewsPass

Our own(self-manufacturing)

Collaboration /M&A

Reinvestment of profits fromexisting businesses

Assets of other companies

Attraction of users from existing
media

Media operation capacities ofother companies

Start up new media tailored to thetrends of the times

Develop new media businesses

News application in collaboration
with KDDI Corporation with 6.5
million DLs

LUCRA
Women-specific application incollaboration with KDDI Corporation
with 2.5 million DLs

Game8
Game strategy information service
with 21 million MAUs per month(C) Gunosy Inc. All Rights Reserved.

PAGE |

24

MediaBusiness(1) Gunosy

Aim for regrowth as a family of Gunosy services by strengthening its position as a general smartphone
information platform, focusing on the three points below.

Strategies

Specific examples

1

Diversification of content• Coupon• Manga• Video2

Improvement of content quality
Restructure of UI/UX• Improvement of article quality acrossapplications, and establishment of a UI/UX
improvement team

POINT

3

Cutting out of applicationsin the vertical domain• Cutting out of services with a different app
experience as separate applications(C) Gunosy Inc. All Rights Reserved.

PAGE |

25

MediaBusiness(1) Gunosy

Aim for the regrowth of business by achieving improved MAUs in the entire family of Gunosy services
while securing profitability through the diversification of content, quality improvement and the cutting out of
applications.

In the past

In the future

Establishment of the Gunosy brand

Diversification based on the Gunosy brand

Gunosy vertical application (2)Gunosy vertical application (1)Expansion of thestable revenue baseMain body of Gunosy

Revenue expansion
through new media

Gunosy vertical application (3)Present

Database as a media platform(C) Gunosy Inc. All Rights Reserved.

PAGE |

26

MediaBusiness(2) NewsPass

Establish a position as a reliable news application for daily living, focusing on the three points below.

Strategies

Specific examples

1

Strengthening of essential functions as
a news application• Strengthening of information on daily life close
to news, such as disaster and transportation
information2

Improvement of content quality
Restructure of UI/UX• Improvement of article quality acrossapplications, and establishment of a UI/UX
improvement team3

Differentiation from other services,taking advantage of the assets of KDDI
Corporation• Collaboration of KDDI-related points• Response to new devices such as voice(C) Gunosy Inc. All Rights Reserved.

PAGE |

27

MediaBusiness(3) LUCRA

Expand the service domain for women after establishing the position of LUCRA as a useful information
application for women, focusing on the three points below.

Strategies

Specific examples

１

Information diversification• Strengthening of content that could trigger
actions, such as live video, fortune-telling andcoupons２

Improvement of content quality
Restructure of UI/UX• Improvement of the article delivery algorithm• Continuous improvement of UI/UX

３

Development of services in thecosmetics domain• Develop services in the cosmetics domain on
our own• To be released in fall(C) Gunosy Inc. All Rights Reserved.

PAGE |

28

(4) Game8Media
Business

Sales increased 152% year on year due to a rise in sales of goods in tie-up ads because PVs increased
steadily. Work to maximize revenue opportunities by improving the PV unit price and expanding domains
other than game strategy information.

Sales and Number of PVs

Strategies

Number of PVs: Up 98%*
800,000,000

700,000,000

200000000

Sales: Up 152%*

1

Improvement of ad unit priceper PV

2

Strengthening of the sales
system and goods for sale

3

Development of new products
leveraging traffic

180000000

160000000

600,000,000

140000000

Sales
500,000,000

120000000

PVs
400,000,000

100000000

80000000

300,000,000

60000000

200,000,000

40000000

100,000,000

2000000000Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4FY2016FY2017FY2018* The rate of increase in the number of PVs and sales is on a year-on-year basis.

(C) Gunosy Inc. All Rights Reserved.

PAGE |

29

Advertising
Business

Summary of Growth Strategiesof the Advertising Business

Actively enter into and invest in the advertising market that is expected to grow in the future, making
maximum use of the asset of being a company that holds media.

1

2

DeviceFrom smartphones to the real world and audio devices

3

From native to video and voice

4

Delivery Form

FormatFrom IMP/pay per click to pay per action(C) Gunosy Inc. All Rights Reserved.

The Market

From Japan to Asia

PAGE |

30

Existing Businesses in the Advertising
Business

Advertising
Business

Focus on the update of the ad delivery algorithm based on data and technologies and the expansion ofad products for branding, centered on video.

•
•

1

2

Our own media advertising

In-feed ADNWStrengthening of sales of tie-up products in live•

Strengthening of sales of re-targeting products

video

•

Expansion of advertisers and ad inventories in

Development of premium ad products in•

NewsPass and LUCRA•

collaboration with the KDDI Group

Update of delivery algorithm for programmatic

Improvement of delivery accuracy through datacollaboration with partner media and SSP

advertising(C) Gunosy Inc. All Rights Reserved.

PAGE |

31

Advertising
Business

New Products in the Advertising Business

Strengthen product and sales capabilities of digwell inc., which deals with Affliate advertising.
Established VIDPOOL Inc. as a joint venture company to strengthen video ADNW.

New productNew product34Affiliate advertising

Video ADNW

(subsidiary)(subsidiary)•

Stronger development of new advertisers••

Release of products for app advertisers•

Building of a creative and LP mass production•

Stronger acquisition of quality ad inventories

system•Search for optimum benefit indicators in video

Expansion of advertisers in collaboration with
CyberAgent, Inc.

advertising(C) Gunosy Inc. All Rights Reserved.

PAGE |

32

5

New Business

New Businesses(C) Gunosy Inc. All Rights Reserved.

Policies for the Blockchain (BC) BusinessWe expect that demand for technically advanced professional support will increase in the ICO market. This isa domain where use will be made of the technical capabilities of protocol study, which Gunosy has
been cultivating for the past six months.

Current Status of ICO• Funds are raised by ICO without a product.
• In many cases, a product is not released even though funds have been raised.

Size of ICO (Quarter)

Number of ICO Projects

Business Operations before ICO$3.3 billion

412

9%

The size of crypto funds worldwide is $27.8 billion

Utility type is the largest in number,accounting for nearly 70%

Projects where business operations
before ICO account for only 9%

What will be required in
the years ahead

1.
2.
3.
4.

Needs for productization will increase.
Incentive design in consideration of a token economy
Power of incorporation into software/application
Deep understanding of blockchain technology and its implementation capability

Source: ICO Market Research Q1 2018(by ICORating)(C) Gunosy Inc. All Rights Reserved.

PAGE |

34

Policies for the Blockchain (BC) Business
Establishment
Investment ratio: 50%

Technology

Investment ratio: 50%

We will carry out business that will leverage our technical capabilities such as
consulting by establishing a joint venture company with AnyPay Inc.

Financing

Business Overview

Token development

Token design,
implementation consulting

Anti-hacking
measures at the timeof ICO and smart
contract

Code audit

A smart contract will not be easily revised once a bag has been broken into. Check thecode of the smart contract by assuming hacking patterns.

Feasibility study

Feasibility confirmation
PoC

Provide consulting on a technical aspect or conduct a demonstration experiment for new
services with a partner company to see whether the new services using blockchain arefeasible.

Medium- andlong-term targets

Provide our own products that will solve problems in the token economy such as DEX
in cooperation with partner companies such as securities firms.

Design and implement a token that will actually work and install an application for it, aimingfor ICO or launch.

(C) Gunosy Inc. All Rights Reserved.

PAGE |

35

Policies for the Investment Business
Establishment

Capital Pte. Ltd.

Establish CVC, which makes an investment in domains that are expected to grow in the future,such as blockchain, sharing economy and AI, in Singapore.
Shinji Kimura, who has a strong investment record in several areas, will become the representative director.

Investment Targets(1) Companies that will develop new business domains, create new business models and develop newtechnologies(2) Companies that will make a paradigm shift in existing industries with an innovative approach

Portfolio Image

Fixed long-term investment (VC)

• Sharing economy in India• Mobile fintech in India• Mobile and blockchain in Indonesia, etc.

Quasi-liquid investment• Asset owner in a sharing economy, etc.
• Investment in businesses before IPO(C) Gunosy Inc. All Rights Reserved.

Liquid investment• Listed companies in the United States,
China and South Korea

PAGE |

36

Appendix

Reference Materials: Overview of Gunosy Inc.

(C) Gunosy Inc. All Rights Reserved.

Overview of Gunosy Inc.
Basic Information

・Company name:Gunosy Inc.

・Representative:

Yoshinori Fukushima

・Established:

November 14, 2012

・Fiscal year:

May・Capital:

3,975 million yen(as of the end of May 2018)

Director and CFO, Mitsushige Ito6047 (First Section of The
Tokyo Stock Exchange)

Director, Shinji Kimura

・Stock Code:・Audit corporation:

Ernst & Young ShinNihon LLC

・Number of
employees:

161 (as of the end of May 2018,
on a consolidated basis)

・Head office:Roppongi Hills Mori Tower,
6-10-1 Roppongi, Minato-ku,
Tokyo・Business:

・Officers:Representative Director and CEO,Yoshinori Fukushima

Development and operation of
information curation service
and other media(C) Gunosy Inc. All Rights Reserved.

Representative Director and COO,
Yuya Taketani

Director and CRO, Tetsuya Nagashima

Director (Outside), Katsuya Yanagihara
Director (Outside), Toshifumi Tsukada

Corporate Auditor, Masakazu Ishibashi
Corporate Auditor (Outside),
Tsutomu Arai
Corporate Auditor (Outside),
Kenji Shimizu
Corporate Auditor (Outside),
Noboru Kashiwagi
PAGE |

38

Directors

Representative Director and CEO

Representative Director and COO

Yoshinori Fukushima

Yuya Taketani

Graduated from the Graduate Schoolof Engineering of the University ofTokyo. While in school, developed theservice of Gunosy. Founded theCompany in November 2012 andbecome Representative Director. In
November 2013, became
Representative Director and CEO. In
FY2012, was certified as an IPA
MITOH Super Creator.

Graduated from the Department
of Industrial and Management
Systems Engineering of the
School of Creative Science andEngineering of Waseda University.
Joined GREE, Inc. and then
Gunosy Inc. In August 2013,
became a director of theCompany. In August 2016,
became Representative Director
and COO.

Director

Director and CFO

Director and CRO

Mitsushige Ito

Tetsuya Nagashima

Graduated from the Graduate School of
Economics of Waseda University. Served
as the General Manager of Business
Administration Division of Dream Incubator
Inc. Joined the Management Planning
Team of Fast Retailing Co., Ltd. Served as
the Manager of the Accounting and Tax
Affairs Department of GREE, Inc. Joined
Gunosy Inc., and in April 2014, became
Director and CFO.

Director (Outside)

Graduated from the Faculty of
Science and Technology of Keio
University. Served as an Executive
Officer at AUN Consulting, Inc.
Joined GREE, Inc. and then
Gunosy Inc. In August 2016,
became a Director at the Company.
In August 2017, became CRO.

Director (Outside)

Shinji Kimura

Katsuya Yanagihara

Toshifumi Tsukada

Graduated from the Graduate School of Engineering of
the University of Tokyo. Graduated from the Departmentof Physics, Faculty of Science of the University of Tokyo.
Joined Dream Incubator Inc. Founded Atlantis Inc. (nowGlossom Inc.) in March 2007 and sold the business to
GREE, Inc. in 2011. Became a Representative Director of
Gunosy Inc. in 2013 and retired in 2014. Established
AnyPay Inc. In June 2016. Became a Director of Gunosyin August 2017.

Became a public prosecutor in 1995.
Registered as an attorney in 2006. Joined
Daiichi Law Office, P.C. in 2007 and has
been a partner at the office. In August
2015, became an Outside Director at
Gunosy Inc.

Joined DDI Corporation (present KDDI
Corporation). Served as President of Mediba, Inc.
and President of WebMoney Corp. Currently
General Manager of the Advanced Business
Development Division, Life Design Business
Sector and General Manager of the promotion of
UI/UX at KDDI Corporation. In August 2016,
became an Outside Director at Gunosy.

(C) Gunosy Inc. All Rights Reserved.

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Business Model: Gunosy Ads
News

Revenue

Interests
GunosyTargeting advertisement delivery
by interest cluster
Users

AD

Impressionguaranteed

Click-guaranteed(CPC = Cost per Click)(CPM = Cost per Mille)

Features1. In-feed advertisements (ads inserted
into articles) enhance visibility
2. Highly frequent contact
3. Ads delivered according to interests
Ad on list page

Ad in an article(C) Gunosy Inc. All Rights Reserved.

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40

Business Model: Ad Network
In addition to delivering advertisements inside Gunosy (Gunosy Ads), we release Gunosy
Ad Network service, which delivers ads to external partner media.
Currently, more than 600 media outlets have introduced this service.

Advertiser A

Media A

Advertiser B

Media B

Advertiser C

Media C

Advertiser D

GunosyAd Network
ServerAdvertiser E

Media DMedia E(C) Gunosy Inc. All Rights Reserved.

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41

Disclaimer

Forward-looking statements contained in these materials are prepared from
judgments and assumptions based on information available at the time of
preparing the materials, and do not guarantee their accuracy.
Please note that actual results may differ materially from the forecasts due tovarious uncertainties included in these judgments and assumptions and changes
in risk factors and the economic environment.

(C) Gunosy Inc. All Rights Reserved.

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42

Optimally deliver information to people around the world