FY2019/5 Financial Results

Gunosy Inc.
First Section of The Tokyo Stock Exchange(Stock Code: 6047)
July 12, 2019

INDEX

1

Financial Results for FY2019

P3

2

Medium- and Long-Term Growth Strategy

P93

FY2020 Outlook

P15

4

Business Overview by Division

P18

5

Recent Actions

P28

6

Reference Materials: Overview of Gunosy Inc.

P33

（C） Gunosy Inc. All Rights Reserved.

1

Section 1

Financial Results for FY2019（C） Gunosy Inc. All Rights Reserved.

FY2019/5 Consolidated Results (On a YonY comparison)
Although operating income declined YonY due to active injection of advertising expenses, increases
in both sales and profit achieved on a full year basis. Sales and gross profit marked solid growth byuser acquisition through coupon program, enhancement of new content (video, etc.) and improvement(Million yen)of algorithm.

Q4

3
FY2018/5
Q4

Full year

FY2019/5
Q4

YonY

FY2018/5

FY2019/5

YonY

Net sales

3,322

3,835

115.4%

11,201

15,017134.1%

Gross profit

1,628

1,763

108.3%

5,874

7,138

121.5%

Operating income

568

446

78.5%

1,938

2,302

118.8%

Operating margin

17.1%

11.6%

-

17.3%

15.3%

-

Ordinary income

568

445

78.4%

1,939

2,289

118.1%

-379

292

-

501

2,009

401.0%Net income
attributable to ownersof parent
Section 1（C） Gunosy Inc. All Rights Reserved.

PAGE |

4

FY2019/5 Consolidated Results [Compared to the Plan]
When Q3 financial results were announced on April 12, 2019, the full-year plan was revised
incorporating the increased advertising expenses.
Q4 sales and operating income exceeded the revised plan by approx. 250 million yen and 200 million
yen, respectively.
(Million yen)Compared to the plan (Q4)FY2019/5 Q4(plan)FY2019/5 Q4(result)

Net sales

3,588

3,835

Operating income

245

Operating margin

Ordinary income

Net income
attributable to ownersof parent
Section 1

Compared to the plan (Full year)

Compared tothe plan

FY2019/5 Q4(plan)FY2019/5 Q4(result)

106.9%

14,77015,017101.7%

446

181.7%

2,101

2,302

109.6%

6.8%

11.6%

-

14.2%

15.3%

-

237

445

187.4%

2,081

2,289

110.0%

152

292

191.3％

1,870

2,009

107.5%（C） Gunosy Inc. All Rights Reserved.

Compared tothe plan

PAGE |

5

Total Number of Active Users (MAU)*1

Total MAU in Q4 increased by 31% YonY (“Gunosy” increased by 14%).
Supported by improved algorithm, enhancement of new content and coupon program, MAU of“Gunosy” turned to re-growth, achieving a record high. "NewsPass" and "LUCRA" also showed solid
growth.
31% growth"LUCRA""NewsPass""Gunosy"

StableQ1

Q2

Q3

FY2015/5

Q4

Q1

Q2

Q3

FY2016/5

Q4

Q1

Q2

Q3

Q4

Q1

FY2017/5

Q2Q3

FY2018/5

Q4

Q1

Q2

Q3

Q4

FY2019/5*1 Average for each quarter of MAUs (monthly active users) of “Gunosy”, “NewsPass” and “LUCRA”.

Section 1（C） Gunosy Inc. All Rights Reserved.

PAGE |

6

*1

Breakdown of Net SalesADNW recovered from the sales decline recorded in Q3. (Increased by 8% over the previous quarter)
Sales of Gunosy Ads increased due to improvements in algorithms, enhancement of new content
such as videos and user acquisition through coupon programs. (Increased by 4% over the previous
quarter.)
FY2019/5 Q4Gunosy Ads marked record high(Million yen)

4,500

Others
ADNW

Game8

254

136

Gunosy Ads

54
206

232

3,000

2
12

16
1,500

52
388

776

153
853

39
466

5

49

62

610

606

75

148

158

815

980

1,097

1,585

1,541

1,080

1,175

1,283

1,300

1,459

1,871

1,935

1,894

1,960

2,030

Q4

Q1

Q2

Q3

Q4

1,143

625

251
939

1,236

1,422

1,205

90

334

234

256

190

103

280

*2

1,411

1,505

0

Q1

Q2

Q3

FY2016/5

Q4

Q1

*3

Q2

Q3

Q4

Q1

FY2017/5

-7

-38

Q2

Q3

FY2018/5

FY2019/5*1 Sales of Gunosy Ads, ADNW and Game8 are presented on a non-consolidated basis. Internal trade adjustments are included in Others.
*2 Sales of Gunosy Ads are the total of “Gunosy”, “NewsPass” and “LUCRA”.
*3 For the quarters up to FY2016 Q2, the figures are from the non-consolidated results.

Section 1（C） Gunosy Inc. All Rights Reserved.

PAGE |

7

Cost Structure
Along with ADNW sales growth, “Ad network costs” also increased over the previous quarter.
Continued injection of “advertising expenses” to promote coupon program.
“Other expenses”, which increased over the previous quarter, is mainly associated with the costs forrevenue sharing with KDDI.
3,307
3,109

(Million yen)

2,908

3,000

2,753
911

2,198

2,313

678

1,997
1,582
1,500

1,319

1,435
314

278

1,007
832

Q1

56

407

504

22
176
53
90

24
198
40
162

44
236
37
253

Q2

Q3

Q4

394

443
22
146
39

494
173

FY2016/5

1,686
1,517

471
80
251

336

390

460

56

55

55

262

274

293

43

47

48

Q1

411

413

439

Q2

Q3

Q4

FY2017/5

547

55
574

Q1

55

504
55
54

55
315

40

588
562

55

104

396
352

336
60

70

420
103

39
539

782

838

Q2

Q3

Q4

Other expenses

16

Live video production expenses

637

Advertising expenses

51

Rents

507

Personnel expenses

131

Server expenses

814

884

Ad network costs

Q3

Q4

41

777

54
414
102

92

693

1,160
1,055

806

493

447

547

44
308

489

389

243

877
140

123

0

3,388

55
456
109

988

1,047

Q1

Q2

FY2018/5

FY2019/5* For the quarters up to FY2016 Q2, the figures are from the non-consolidated results.

Section 1（C） Gunosy Inc. All Rights Reserved.

PAGE |

8

2

Section 2

Medium- and Long-Term Growth Strategy（C） Gunosy Inc. All Rights Reserved.

Introduction(1) Outline

Establish “an investment phase to accelerate growth”, whichaims to achieve medium- and long-term growth.

See p.11 for more detail(2) Strategy

Inject advertising costs strategically making effective use of
media such as online ads and TV commercials.

See p.12 for more detail(3) Recent results

As a result of investment in the second half of FY2019/5, MAU
and DAU of “Gunosy” marked steady growth.

See p.13 for more detail(4) Future outlook

Increase “Gunosy” sales in line with the DAU growth.

See p.14 for more detail

Section 2（C） Gunosy Inc. All Rights Reserved.

PAGE |

10

(1) Outline

Investment Phase to Accelerate Growth

Aiming for a large growth in profits in FY2021/5, we will continue to consider FY2020/5 as “an investment
phase for accelerated growth”, in which aggressive investment is made to "Gunosy" to realize medium- andlong-term growth and profits.
Furthermore, while emphasizing investment to accelerate growth, we will improve capital efficiency andconsider measures to increase return to shareholders to enhance shareholder value.

FY2018/5

FY2019/5

FY2020/5

FY2021/5(result)(result)(plan)(reference)

21,000+α

Net sales(Million yen)

Operating income
17,05415,017

11,2013,000+α
1,938

2,302
Incomedecline

1,000

Investment phase to accelerate growth
Section 2（C） Gunosy Inc. All Rights Reserved.

IncomegrowthAccelerated growth
phase
PAGE |

11

(2) Strategy

Advertising Plan to Achieve GrowthWith a focus on our core business "Gunosy", we will actively invest in advertising througheffective use of TV commercials and online ads.
We plan to raise the investment amount to 3.88 billion yen in FY2020/5, which is planned to belowered to FY2019/5 levels the following year (FY2021/5). We will control the amount ofinvestment while carefully monitoring the return on investment.

FY2019/5

FY2020/5

FY2021/5(result)(plan)（reference）

Down toFY2019/5 level(in terms of %)GunosyOthersAdvertisingexpenses

Total amountspent

2.44 billion yen

3.88 billion yen

Ratio to sales

16%

23%

Section 2（C） Gunosy Inc. All Rights Reserved.

PAGE |

12

(3) Recent
results

MAU and DAU of “Gunosy”

Both MAU and DAU of “Gunosy” recorded growth by aggressive investment in advertisement started
in FY2019/5 Q3. Not only did MAU reach a record high, DAU increased by more than 10% compared
to before investment, which suggests the users, who are not limited to coupon usage only, increased.

MAU of “Gunosy”

Monthly average DAU of “Gunosy”

MAU reached a record high in FY2019 Q4

As a result of the coupon program, DAU
marked conspicuous increase compared to
FY2019 Q4

before investment.

Record high marked

Increase 11%

Increase 15%

After investment

Before investment

Q1

Q2

Q3

Q4

Jun

Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May

FY2019/5

FY2019/5* MAU is the number of users who used the service more than once in a month.

Section 2

After investment

Before investment* DAU is the number of users who used the service more than once in a day.

（C） Gunosy Inc. All Rights Reserved.

PAGE |

13

Image of “Gunosy” Regrowth(4) Future
outlookContinue active investment in advertising to accelerate user growth.
Meanwhile, strictly monitor the return on investment and expect sales growth in line with the increasein users. Through these measures, in FY 2020/5 Q4, we aim to achieve double-digit growth ofmonthly average DAU YonY, along with strong sales growth expected.

“Gunosy”
Sales
DAU

Before investment

Q1
Q1

Q2
Q2

Q3
Q3

Q4

Q1

FY2019/5
2019年5月期
2019年5月期

Q3
Q3

Q4
Q4

FY2020/5
2020年5月期
2020年5月期

Result
実績

Section 2

Q2
Q2
Plan

（C） Gunosy Inc. All Rights Reserved.

PAGE |

14

3

Section 3

FY2020/5 Outlook（C） Gunosy Inc. All Rights Reserved.

FY2020/5 Forecast [On a YonY comparison]
Through aggressive investment in advertising, we plan to raise both net sales and gross profit byat least 10% YonY. On the other hand, while operating income is expected to record atemporary decline, we will control spending on advertising, closely monitoring the return on
investment at the same time. As a result, we anticipate that the investment harvest period will
come in FY2021/5 with a large increase in profits expected.
(Million yen)
FY2019/5(result)

YonY

Net sales

15,017

17,054113.6%

Operating income

2,302

1,000

43.4%

Operating margin

15.3%

5.9%

-

Ordinary income

2,289

960

42.0%

Net income

2,009

565

28.1%

attributable to owners of parent
Section 3

FY2020/5(full-year plan)（C） Gunosy Inc. All Rights Reserved.

PAGE |

16

FY2020/5 Forecast [H1 and H2]
In particular, as investment costs in 1st half for advertising are regarded as upfront investment,
operating income is expected to show significant decline. It is, however, expected to recover in 2nd
half along with an increase in service users.
(Million yen)

FY2020/5
H1

FY2020/5
Full year

7,579

9,475

17,054

Operating income

60

939

1,000

Operating margin

0.8%

9.9%

5.9%

Ordinary income

39

921

960

Net income

-12

577

565

Net sales

attributable to owners of parent
Section 3

FY2020/5
H2（C） Gunosy Inc. All Rights Reserved.

PAGE |

17

4

Section 4

Business Overview by Division（C） Gunosy Inc. All Rights Reserved.

Media“Gunosy”

Utilizing our ❶planning ability and ❷engineering resources to implement the plan in a short time, we
carried out a variety of campaign programs (including lotteries and time sale coupons) many times in ashort time, which received favorable support by users. As a result, MAU marked steady growth,reaching a record high.

Growth of MAU

Factors leading to MAU growth

FY2019 Q4Carried out a variety of campaign programs
making effective use of internal resources❶and ❷1

2Planning
abilityEngineeringresources

Record high marked

As a result…

Q1
Many campaign programs carried out in a short time.
Section 4Q2

Q3

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

Q4

Q1

Q2

Q3

Q4

FY2019/5
PAGE |

19

“Gunosy”

Media

Following enhancement of official videos such as professional sports and Korean drama, westrengthened tie-up with external partners, which contributed to the accumulation of active users.

Changes in the scale of users

Main video content broadcast

who have completed viewing video

InhouseproductionEach content (sports, news,
entertainment) contributes to theincrease of number of video views

12h Gunosy Q
A live interactive quiz program featuring user
participation (held on a regular basis).
We broadcast a 12-hour endurance quiz programon March 24, 2019.

Enhancement of new content bycooperation with radio stations etc.
(Vtuber etc.)
AlliancewithPress conference for singers andexternal bands, etc.
partners
Q3

Q4

FY2018/5
Section 4

Q1

Q2

Q3

FY2019/5

Q4

Simultaneous broadcast of news
content, etc.
(Simultaneous streaming)（C） Gunosy Inc. All Rights Reserved.

PAGE |

20

Media“NewsPass”

Enhancement of the delivery system improved the open rate of push notifications.
With the start of coupon delivery in March 2019, we are aiming for continuous growth in the future.

Enhancement of push delivery system

Start of coupon delivery(1) Speed of news flash
delivery improved(2) Push design changed(3) Personalized push
Push notification
open rate improved by
5% or more

Screen image of the improved delivery system

Section 4

Screen image of coupon（C） Gunosy Inc. All Rights Reserved.

PAGE |

21

Media“LUCRA”

The number of active users steadily expanded due to successful introduction of new content
and more. Largest media outlet oriented to women in the Japanese market. ＊1

Introducing new content• Weather forecast• Horoscope• Coupon
Advertising strategy change
Regarding the revenue sharing model with
KDDI Corporation, the scheme was changed
to allow us to make decisions for theadvertising strategy quickly andindependently.
＊Based on the number of data users in November 2018 (reference:Nielsen Mobile NetView), we have independently selected "Apps for
women" from apps with a female user ratio of 80% or more.

Section 4（C） Gunosy Inc. All Rights Reserved.

PAGE |

22

Game8Media

Q4 sales affected by sluggish growth in PV and CPM due to market conditions. Operating
income decreased over the previous quarter as strategic investments made to enter into new
businesses. FY2020/3 positioned as a period of preparation for sustained growth. In order toachieve medium- and long-term growth, we will actively expand content other than gamewalkthrough.

Sales and Operating Income

Measures for Continued Growth

300,000,000

256
232

Sales

250,000,000

234

206
190

Operating

200,000,000

income148

Create new business teams andinvest in recruiting, temporary bonus
and office expansion.

158

150,000,000(Million yen)

111 11690

100,000,000

40

52

39

49

62

75

71

80

91 95
57

50,000,000

12Content for advance reservations
grew steadily.

22
2

17
8 11

Consider undertaking overseas
business, M&As, investments,
alliances and other initiatives
proactively.

0

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4FY2016/3

FY2017/3

FY2018/3

FY2019/3

New media "CLABEL" released
as beta version*1 Non-consolidated results (before consolidated adjustment)

Section 4（C） Gunosy Inc. All Rights Reserved.

PAGE |

23

MediaGame8 Launched “CLABEL”

Game8, which runs the game walkthrough website, entered into a new business other than gaming.

Released "CLABEL" beta version, a new media that supports users when making important decisions in life,
such as going to school or finding a job.

Media image of beta version

Categories
Job information
School information
Living information

Outline of the media
Provides information to users based ondata that is publicly available (including“Financial Securities Report” submitted bylisted companies and the “Comprehensive
Survey of Living Conditions” issued by
Ministry of Health, Labor and Welfare), in aform that is easily understandable.

https://clabel.me/

Section 4（C） Gunosy Inc. All Rights Reserved.

PAGE |

24

Ad Network (ADNW)

Advertising

The impact of the environmental change in the advertising market has calmed down, and CPM(Cost Per Mile) has bottomed out. Advertising inventory (impressions) recovered from seasonal
decline in Q3 and marked a new record high.
Number of Impressions

Num be r of I m pre s s i ons
a nd CP M

marked record high（million imp）
45,000imp

CPM

38,61039,52939,58536,33038,872¥36.8433,68030,78830,00030,142¥30.7027,348¥40
40,90041,13838,390¥35.75¥30.70¥29.71¥29.98¥25.10¥20¥19.5015,000¥19.80¥16.90¥21.10¥18.40

0

¥0

Q1

Q2

Q3

FY2017/5

Q4

Q1

Q2

Q3

Q4

FY2018/5

Q1

Q2

Q3

Q4

FY2019/5* CPM: Cost Per Mille; unit price per 1,000 views of advertisements

Section 4（C） Gunosy Inc. All Rights Reserved.

PAGE |

25

Advertisingdigwell and VIDPOOL-

digwell's business remained strong until Q4. However, rapid market changes have made it difficult toachieve growth in existing businesses. As a result, sales and profits are expected to decline in the current
quarter. We will focus on developing new services other than affiliate advertising in order to achieve
recovery.

-

Although the business performance of VIDPOOL was somewhat unstable right after the launch, businesscarried out as planned. As the number of orders received is on the rise, business growth expected in the
2nd year, along with the expansion of video market.

Pay-per-click services for APP advertisers.

Video ad network service

Tr e nds i n
ne t s a le s

Q1

Q2

Q3

FY2018
Section 4

Tre nds i n
ne t s a l e s

Q4

Q1

Q2

Q3

Q4

Q1

FY2019（C） Gunosy Inc. All Rights Reserved.

Q2

Q3

Q4

FY2019PAGE |

26

Investment
business

Gunosy CapitalAs the third project, we invested in Caster Corporation that provides support for better working style.
Since its establishment in July 2018, Gunosy Capital has invested in three companies.

1st project

2nd project

3rd project

Investment executed in May
2019
Company
nameZoomcar, Inc.

Company
nameInstamojo, Inc.

Company
nameHead office

Bangalore, Karnataka,
India

Head office

Bangalore, Karnataka,
India

Head office Shibuya, Tokyo, Japan

Caster Corporation

Representati
Greg Moranve

Representati
Sampad Swain
ve

Representati
Shota Nakagawa
veEstablished 2012

Established 2012

Established 2014

Business

Section 4

Online car rental andcar sharing businesses

Business

Online payment service
for small businesses（C） Gunosy Inc. All Rights Reserved.

Business

Online assistantservice, etc.

PAGE |

27

5

Section 5

Recent Actions（C） Gunosy Inc. All Rights Reserved.

(1) “OTOKUL”, a Coupon App, Released“OTOKUL”, a coupon app, released on March 4, 2019.
The growth in the number of coupons available exceeds expectations and user acquisition efficiency
is better than existing products, leading to steady growth.

Section 5（C） Gunosy Inc. All Rights Reserved.

PAGE |

29

(2) Establishment of Gunosy Tech Lab
We established "Gunosy Tech Lab"as an organization specialized inresearch in further data utilizationand information recommendation.
[Recent research theme]

Image of the press release announced
on March 15, 2019

Section 5

1

Enhancement of recommendation algorithm using deeplearning / machine learning technology in various content
formats

2

Research and development on data utilization for O2O
business

3

Research and development of comfortable user experience on
devices other than smartphones

4

Providing algorithms to external companies

5

Effective data linkage method between multiple companies（C） Gunosy Inc. All Rights Reserved.

PAGE |

30

(3) Our Paper Acceptedat International Conference "KDD2019"
Gunosy's research paper accepted

by international conference on data
mining "KDD2019“ (Applied Data
Science Track)
KDD is…
KDD (The ACM SIGKDD Conference on Knowledge Discovery and Data
Mining) is one of the international conferences on data mining, and isregarded as the world's most notable and challenging conference in the data
mining field. The 25th meeting will be held in Anchorage, Alaska from August
4 to 8, 2019.

Flash news

Image of the press release announced
on May 29, 2019
Section 5

Our paper accepted as Short Paper at RecSys 2019 (The ACM
Conference Series on Recommender Systems), which isconsidered the most prestigious international conference in therecommender system field.
Details will be officially released soon.
（C） Gunosy Inc. All Rights Reserved.

PAGE |

31

(4) "SDGs" Tab Added in 3 Apps
Provided by Gunosy
Advocating the efforts of "SDGs" as a member of the international community, SDGs tab was addedin 3 apps provided by Gunosy. It aims to contribute to the realization of a better international
community.

SDGs tab added in 3apps

What are the SDGs?
Sustainable Development Goals (SDGs) are a set of international development goals from 2016 to 2030 described in the 2030 Agenda for
Sustainable Development (the 2030 Agenda), which was adopted by the UN Sustainable Development Summit held in September 2015 building on
the success of Millennium Development Goals (MDGs) established in 2001. SDGs consist of 17 goals and 169 targets in order to realize asustainable world and pledge “No One is Left Behind” through the implementation process.(*1)
In Japan, while the government promotes “SDGs” based on “SDGs Action Plan 2019”, companies are also actively working on it and efforts are
currently being made to establish Japan's "SDGs model. (*2)
*1 JAPAN SDGs Action Platform released by Ministry of Foreign Affairs of Japan*2 About SDGs (Sustainable Development Goals)

Section 5（C） Gunosy Inc. All Rights Reserved.

PAGE |

32

Appendix

Reference Materials:
Overview of Gunosy Inc.

（C） Gunosy Inc. All Rights Reserved.

Our Mission

Optimally deliver
information to people

around the world（C） Gunosy Inc. All Rights Reserved.

PAGE |

34

Figures in Mid-term Vision
In the rapidly changing market environment, we set the following indicators as a 3-year goal and will
expand our business to achieve further development.

MAU

Total duration of all sessions

Total sales

20% growth / year

25% growth / year

30% growth / year

Raise MAU to increase the amount ofacquired data

Raise “Total duration of all sessions“ to increase data acquisition forhigher profitability

Consider profit growth in the potential
business fields including media
business

Overseas business

Acquisition of new data

Increase profits overseas throughbusiness tie-up, etc.

Strengthen DMP and promote collaboration
with external data（C） Gunosy Inc. All Rights Reserved.

PAGE |

35

Model of Our Main BusinessWe aim to coexist with various stakeholders based on making use of our strengths in theInternet advertising business with our own media.
Newspapercompanies, etc.

Users

Provide news
content
Offer
news forfree￥
Payment

Our own
media
Sell
add
space

(Payment)

Advertisers

Sell ad space

Media of othercompanies

Place ads
ADNW

￥

￥

Payment

Payment（C） Gunosy Inc. All Rights Reserved.

PAGE |

36

Directors(as of July 12, 2019)

Representative Director and CEO Representative Director and COO

Director

Director

Yuya Taketani

Tetsuya Nagashima

Yoshinori Fukushima

Shinji Kimura

He graduated from the Department of Industrial andManagement Systems Engineering, School of Creative
Science and Engineering, Waseda University. After
working at GREE Inc., he joined our company. After
serving as Director & COO from August 2013 andRepresentative Director & COO from August 2016, heassumed the post of Representative Director & CEO in
August 2018.

He graduated from the Faculty of Science andTechnology, Keio University. After serving as
Executive Director of AUN CONSULTING, Inc. andthen GREE Inc., he joined our company. He led ouradvertising business unit as Executive Officer. After
serving as Director from August 2016 and Director &CBO from August 2017, he assumed the post of
Director & COO in August 2018.

He graduated from the Graduate School ofEngineering, The University of Tokyo. During his timeat the school, he developed the services of Gunosy,
founded the company in November 2012, andassumed the post of Representative Director.
Subsequently, in November 2013, he took up the postof Representative Director & CEO. He was selected as
Super Creator in IPA’s MITOU Program in 2012. In
August 2018, he transferred to the subsidiary, LayerXInc., to concentrate on his work as its representative
director.

He graduated from the Department of Physics, Facultyof Science, The University of Tokyo. After joining
DREAM INCUBATOR Inc., he founded Atlantis Co.,
Ltd. (now Glossom, Inc.) in March 2007 and sold it to
GREE Inc. in 2011. He assumed the post ofRepresentative Director of our company in 2013 andresigned in 2014. In June 2016, he founded AnyPay
Inc. In August 2017, he took up the post of Director of
our company.

Director (Outside)

Director (Outside)

Director (Outside)

Director (Outside)

Toshifumi Tsukada

Suguru Tomizuka

Hiroki Teshima

Hirokazu Mashita

In 1986, he joined DDI Corporation (now KDDI
Corporation). After serving as Representative Directorof mediba Inc., Representative Director of WebMoney
Corporation and General Manager of Advanced
Business Development Division of KDDI Corporation,
he currently serves as Chairman of au Commerce &Life, Inc. In August 2016, he assumed the post of
Outside Director of our company.

After joining Recruit Company (now Recruit Holdings
Co., Ltd.) in 1988, he served as its Executive Officer aswell as Representative Director of an affiliatedcompany of Recruit Holdings Group and was involvedin the internet media business and management. In
2018, he founded Tommy Co., Ltd. He currently serves
as Representative Director of Tommy and Outside
Director of eole Inc. In August 2018, he assumed thepost of Outside Director of our company.

He joined HAKUHODO Inc. in 1999. From 2006, he served
as Director when Interspire, Inc. (now UNITED, Inc.) was
founded. After two business mergers, he assumed the postof the CEO of UNITED, Inc. at the end of 2012. He also
served as Outside Director of Mercari, Inc., in which thecompany invested, in 2013. He has a wide range ofexperience in management and internet-related
businesses. Since August 2018, he has served as Outside
Director of our company. In September 2018, he assumed
the post of Joint Founder and General Partner of XTech
Ventures.

In 1991, he joined Nomura Securities Co., Ltd. In 1996,
he graduated from the MBA course at Duke University
Fuqua School of Business. After serving as Director of
Hikari Tsushin, Inc. and Representative Director ofemachitown Co., Ltd., he founded M&S Partners Pte.
Ltd. in 2013 and has served as its Director (up untilnow). He has experience in global management andinvestments both in Japan and overseas. Since August
2018, he has served as Outside Director of ourcompany.

（C） Gunosy Inc. All Rights Reserved.

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37

Overview of Gunosy Inc. (as of July 12, 2019)

Basic Information
・Company name:Gunosy Inc.

・Officers:Representative Director and CEO,Yuya Taketani

・Representative:

Yuya Taketani

・Established:

November 14, 2012

・Fiscal year end:

May 31・Capital:

4,046 million yen(as of the end of May 2019)

・Stock Code:6047 (First Section of The Tokyo
Stock Exchange)

Director (Outside), Toshifumi Tsukada

・Audit corporation:

Ernst & Young ShinNihon LLC

Director (Outside), Hiroki Teshima

・Number of
employees:

215 (as of the end of May, 2019,
on a consolidated basis)

Director (Outside), Hirokazu Mashita

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

Corporate Auditor (Outside),
Kenji Shimizu

・Business:

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

Director and COO,
Tetsuya Nagashima
Director, Yoshinori Fukushima
Director, Shinji Kimura
Director (Outside), Suguru Tomiduka

Corporate Auditor, Masakazu Ishibashi

Corporate Auditor (Outside),
Noboru Kashiwagi
38

PAGE |

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. These materials

contain financial data that have not been audited by an independent certified
public accountant or an auditing firm.
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.

PAGE |

39

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