FY2019/5 Financial Results for Q2
Gunosy Inc.

First Section of The Tokyo Stock Exchange(Stock Code: 6047)
January 15, 2019

INDEX

1 FY2019/5 Financial Results for Q2

P3

2 FY2019/5 Results Forecast

P15

3 Business Overview

P17

4 Reference Materials: Overview of Gunosy Inc.

P30

(C) Gunosy Inc. All Rights Reserved.

1

FY2019/5 Financial Results for Q2(C) Gunosy Inc. All Rights Reserved.

Highlights of Financial Results
Outline of P/L for Q2 of the fiscal year ending in May 2019
YonY

Net sales

3.84 billion yen+1.13 billion yen (141.9%)

Operating profit

0.73 billion yen+0.22 billion yen (143.8%)

Current profit

0.72 billion yen+0.21 billion yen (143.1%)

Net profit

0.97 billion yen+0.64 billion yen (299.5%)

As in the previous quarter,
NewsPass, LUCRA, ADNW and all subsidiaries have grown more than expected.
Gunosy (App)NewsPass

LUCRA

ADNW

Subsidiaries

SteadySignificant
increase inrevenueSignificant
increase inrevenueSignificant
increase inrevenueSignificant
increase inrevenue

MAU: Slight increase
Advertising expenses:
Increase due to goodacquisition

Section 1

MAU: Increase

MAU: Increase(C) Gunosy Inc. All Rights Reserved.

PAGE |

4

Summary
Topics• In light of the good user acquisition on the new approach in Gunosy App, we further increased
advertising expenses by slightly less than 100 million yen.
• As a result, the MAU (Monthly Active Users) of Gunosy increased QonQ.
We are preparing more effective user acquisition programs to achieve regrowth.
• We will bolster the presence of LayerX through a range of initiatives including a business tie-up with
Microsoft Japan.

Existing

New

Accumulateknowledge

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

PAGE |

5

FY2019/5 Consolidated Results for Q2
Net sales increased by 41%. As a result, operating profit rose 43%, showing a good result.

(Million yen)

Quarter
FY2018/5
Q2

FY2019/5
Q2First half
Forecast for H1
at Oct.12,'18

ChangeFY2019/5
H1

ChangeNet sales

2,707

3,840

141.9%

7,026

7,541

107.3%

Operating profit

508

731

143.8%

1,341

1,524

113.6%

Operating margin

18.8%

19.1%

-

19.1%

20.2%

-

Current profit

508

728

143.1%

1,341

1,520

113.4%Net profit

324

972

299.5%

1,261

1,517

120.2%

attributable to owners of parent

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

PAGE |

6

FY2019/5 Factors for Increase in Profit in Q2
Steady growth in Gunosy Ads and ADNW sales made a significant contribution to the increase in profit.

478

-353

40

66
-372

¥800,000,000(Million yen)308
54¥400,000,000

731
508

¥0

FY2018 Q2
operating profit

GunosyadvertisingexpensesGunosy Ads
sales

ADNW sales

ADNW cost of
sales

Game8
Digwell
Other costs, etc. FY2019 Q2
contribution to contribution to(Including
operating profit
operating profit operating profit
internaltransaction
adjustment)** Mainly increase in costs for revenue sharing and advertising expenses for LUCRA

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

PAGE |

7

Financial Results (Quarterly)
Net sales set a record high for 13 consecutive quarters, at 3.84 billion yen.
Operating profit, despite a quarter-on-quarter decline due to the increase in advertising expenses by slightly
less than 100 million yen, hit its second highest level after the level reached in the previous quarter.
FY2019 Q2Net Sales and Operating Profit

3,840 million yen(Million yen)

4,000

3,700
3,322

2,707 2,758
2,413

2,500
1,959 1,982

2,117

1,680
1,521
1,191

1,000

790

995

892

1,006

880

792

486
271

-997

201

-124

-500

Q4

Q1

285
47

129

184

201

245

376

464

431

416

508

444

731

568

-172

Q2 Q3
FY2015

Q4

Q1

Q2 Q3
FY2016

Q4

Q1

Q2 Q3
FY2017

Q4

Q1

Q2 Q3
FY2018Q4Q1 Q2FY2019* 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

Breakdown of Net Sales*1
ADNW sales exceeded the previous record high. Gunosy Ads*2 and Game8 continued to record solid sales.

(Million yen)

254

136

4,000

OthersGame8
ADNW
Gunosy Ads *2

3,000

54

148
16
2,000
39
52
388
103
776

153

853

232

1,422

1,459

1,871

1,935

1,894

Q4

Q1

Q2

190
2

1,000

206

5

12

49

62

610

606

158
1,205

90

75

980

1,097

1,585

1,541

-7

-38

Q2

Q3

815

625

466

251

939

1,080

1,175

1,283

1,300

1,411

1,505

0

Q1

Q2

Q3

FY2016

Q4

Q1

Q2

Q3

Q4

Q1

FY2017FY2018FY2019*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 App, NewsPass App and LUCRA App.
*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 |

9

Cost Structure
Variable costs (ADNW costs, costs for revenue sharing with KDDI that are included in “Other expenses”)
increased, mainly associated with the rise in net sales. The cost structure remained stable.

Cost Structure(Million yen)

3,109
2,908

3,000

2,753

2,198
1,997
489

1,582
1,500

1,319
1,007

0

832

877

123

140

443

394

22
146
39
56

Q1

173
407

243
504

22
176
53
90

24
198
40
162

44
236
37
253

Q2

Q3

Q4

FY2016

1,435
314
278

1,686

547

104

389

336

562

56
262
43

55
274
47

55

315

293

55

308

411

413

439

Q1

Q2

Q3

Q4

FY2017

Q1

55
352

336
60

48
574

504
54

55
55

39

Live video production expenses

539

Advertising expenses

55

54

Rents

420

414

Personnel expenses

102

Server expenses

988

1,047

Ad network costs

Q1

Q2

40

588

547
460

Other expenses

493

1,517

390

80
251
44

678

447

494

471

2,313

911

806

70

396
92

693

782

838

Q2

Q3

Q4

FY2018103

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

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

PAGE |

10

Cumulative Total of Downloads
The performance of acquisitions are good for Gunosy App due to an addition to advertising expenses,
and CPI* is maintained to low levels.

39.26 million DLs(million DLs)
40.00

(Yen)
450

LUCRA
NewsPass
Gunosy
CPI*

36.37
33.54
30.84
27.99
25.15

300

22.68
18.41 20.43
20.00
16.18

7.46

8.66

9.77

10.84

11.91

13.02

14.36
150

5.15

0.00

0

Q1

Q2

Q3

Q4

FY2015Q1Q2Q3FY2016

Q4

Q1

Q2

Q3

Q4

FY2017Q1Q2Q3FY2018Q4Q1Q2FY2019* CPI: Cost Per Install: Unit cost to acquire one user

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

PAGE |

11

Total Number of Active Users*1
Diversification is making progress due to the growth of NewsPass and LUCRA.
In addition, the MAU of Gunosy App, which had remained stable, turned slightly upward in Q2.

Rose

32.0% YonY

Applications:
LUCRA
NewsPass
GunosyStableQ1

Q2

Q3

FY2015

Q4

Q1

Q2

Q3

FY2016

Q4

Q1

Q2

Q3

Q4

Q1

FY2017Q2Q3FY2018Q4Q1Q2FY2019

*1 Average for each quarter of MAUs (monthly active users) of Gunosy, NewsPass and LUCRA.
*2 The percentage of overlapped MAUs (monthly active users) of both Gunosy and NewsPass is within 10%. Source: Estimates of Gunosy Inc.

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

PAGE |

12

Advertisers
The ratio of major advertisers increased because we focused on sales activities for the existing major
advertisers* with the purpose of cutting unit costs for customers.
Along with the growth of LUCRA, the share of the Health and Beauty care segments continued to increase.
Number of Active Advertisers(Companies)
1,600

100%

Other advertisers

1,388 1,396

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

1,343
1,253 1,273

1,211

Segment of Advertisers (FY2019 Q2)

1,210 1,239 1,076

1,098

95%

Real estate 1%

Game 1%Others 7%

Human
resources 2%

1,049

Finance 3%

90%

843

Apps
(excluding
games) 3%

782

800
636

85%

80%

332 345 346 350 324 310 355 311 292
221 207 246 261 260
0Beautycare
34%

Health50%

75%

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2FY2016FY2017FY2018FY2019* The number of advertisers whose advertising budget is 1 million yen or more.

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

PAGE |

13

Ad Network (ADNW)
We continued to acquire good advertising inventories and maintained a high CPM*.

Number of Impressions and CPM(million imp)
45,000

¥40

imp

CPM

38,61039,52939,585¥36.8438,87236,330¥35.7533,68030,78830,00030,142¥30.7027,348¥30.70YonY

CPM: +42%¥25.1015,00040,900¥19.50¥19.80

Q2

Q3

¥20

¥21.10¥18.40¥16.900¥0Q1

FY2017

Q4

Q1

Q2

Q3
FY2018Q4Q1Q2FY2019* CPM: Cost Per Mille; unit price per 1,000 views of advertisements

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

PAGE |

14

2

Section ２

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

Progress in FY2019/5 Financial Forecast
The first half forecast of operating profit was achieved with the progression rate of 113.6%.
The results forecast remains unchanged because advertising expenses are expected to be further increased,
mainly for Gunosy whose acquisition is good, and new media as well (additional increase subject to theresults of monitoring of CPI trends).
(Million yen)First Half
Corrected forecast
for H1 at Oct.12,'18

Actual result

Full-year
ChangeCorrected forecast
for H1 at Oct.12,'18

Progression
rate

Net sales

7,026

7,541

107.3%

14,462

52.1%

Operating profit

1,341

1,524

113.6%

2,722

56.0%

Operating margin

19.1%

20.2%

-

18.8%

-

Net profit

1,261

1,517

120.2%

2,159

70.2%

attributable to owners of parent

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

PAGE |

16

3

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

Highlights by Division• User acquisition on the back of the new approach remained good in Gunosy App.
Advertising expenses were further increased by slightly less than 100 million yen.

Media

• Progress was made in the enhancement of video content and a shift to video fromtext based media.
• We released Gunosy Sports as the first application in the current fiscal year.

Advertising• We released programmatic advertising and automatic bidding functions. We will
expand the customer base.
• Sales of digwell, our subsidiary, grew. The growth made a significant contribution
to the Group’s profitability.

BC (blockchain)• LayerX increased its presence in Japan through a business tie-up with Microsoft,
among other initiatives.

Investment• We invested in Zoomcar, the largest online car rental company in India, as the firstproject.

Section 3(C) Gunosy Inc. All Rights Reserved.

PAGE |

18

MediaBusiness(1) Gunosy

Advertising expenses were further increased due to good user acquisition, resulting from the ongoing
efforts to enhance the coupon program.
Production of the second TV commercial for the coupon program is in process. We are working on aplan to further strengthen promotions.

Content

ArticlePromotion• Improvements in the level ofacquisition efficiency from previous
levels contributed to increases in
DAU and MAU.

As of August 31, 2018
Number ofbrandsTypes ofcoupons

7

22

Digital• We further increased advertisingexpenses by slightly less than 100
million yen while maintaining thecurrent level of acquisition efficiency.

Coupon• We started to air the first commercial
in December. The second one will beaired in February.

As of November 30, 2018

Official video(Efforts are being
made to enhance
the program)

Section 3

Number ofbrandsTypes ofcoupons

12

59

TV

(C) Gunosy Inc. All Rights Reserved.

PAGE |

19

MediaBusiness(1) Gunosy

The enhancement of video content is progressing. A shift to video content is underway.

Changes in the scale of users
who have finished viewing video

Main video content broadcast in Q2

Gunosy Q
In-house
production

A live interactive quiz program featuring user
participation(held on a regular basis)

Tie-up programs
Live programs hosted by celebrities or singers(held on an irregular basis)

Eclipse LIVEQ3

Q4FY2018

Section 3

Q1

Q2

Alliancewithexternal
partners

FY2019(C) Gunosy Inc. All Rights Reserved.

A tie-up program with one of Japan’ s largest
weather information media

Live broadcasting of sports
Live broadcasting of major sports such as soccer,
baseball and basketball as well as their highlights

PAGE |

20

MediaBusiness(1) Gunosy

We released Gunosy Sports as a cut-out application.
We will validate the application in the current fiscal year from the perspective of unit economics for growth in
the next fiscal year and beyond.

Background• Interest in sports is growing as shown by thelaunch of channels dedicated to sports andspecial corners allocated in articles, with a view
toward the Tokyo Olympics.
• We released Gunosy Sports to provide sportsfocused information.

Plan for the current fiscal year
• We will validate the persistency of users in thefirst place.
• In addition, we will conduct a marketing test of
the service for low budget and makepreparations for growth in the next fiscal year
and beyond.
Section 3(C) Gunosy Inc. All Rights Reserved.

PAGE |

21

MediaBusiness(2) NewsPass

We are seeking to improve user experience through the enhancement of “likes” and video content.
We are moving forward with efforts to strengthen communities through the development of commenting
functions.

Content

Section 3• We plan to provide more daily life-based information by utilizing “likes”
and comments according to algorithms.
• We are in the process of enhancing video content. By doing so, we will
improve user experience.

Special offer• We conducted the wallet point present campaign.

Community• The “like” function is already incorporated. We are in the process ofdeveloping commenting functions.

(C) Gunosy Inc. All Rights Reserved.

PAGE |

22

MediaBusiness(3) LUCRAThe DAU and MAU grew significantly due to improvements in user acquisition efficiency and persistency.
In terms of the MAU, the service became the largest media outlet oriented to women in the Japanesemarket.
Changes in MAU
Largest media
LUCRA

Feb.

Media A

Mar.

Apr.

Media BMayMedia C

Jun.

Media D

Jul.

Aug.

Sep.

Oct.

Nov.

2018
* Based on a survey by the Company (we referred to AppAnnie)

Section 3(C) Gunosy Inc. All Rights Reserved.

PAGE |

23

MediaBusiness

Gunosy/NewsPass/LUCRA

We are improving algorithms for services in Gunosy, NewsPass and Lucra and conducting research anddevelopment on leading-edge algorithms.

Algorithms fordelivery of articles

Research anddevelopment• Full-scale introduction of personalization for Gunosy Improvement in article click rates by more than 10%.

• Conducted a joint study with Yoshida Lab at Toyohashi
University of Technology and made announcements atinternational conferences.

• Renewal of algorithms for related articles in NewsPass Improvement in click rates by approximately 30%.
• Started the implementation and trial introduction of analgorithm that reduces the number of articles displayedthat are judged to be click-bait articles.

Section 3- Development of an algorithm to specify click-bait articles.
(Announced and posted a paper at the conferences of
DEIM, YANS and WI)- Analysis of user activities with respect to the filter bubble
and eco chamber.
(Announced and posted a paper at the conferences of
JSAI, IEEE and Bigdata)(C) Gunosy Inc. All Rights Reserved.

PAGE |

24

MediaBusiness(4) Game8

Both sales and operating profit continued to set record highs, with operating sales reaching 110 million yen.
Good progress was made in the promotion of functions other than game walkthrough/strategy articles.

Sales and Operating profit

New Driver for Growth

250,000,000

232

Sales: Up 56%*
200,000,000

206

Operating profit: Up 57%*

190
148

Actively expand content other thangame strategies.

158

150,000,000(Million yen)

111

Sales

90

Operating profit

100,000,000

40

50,000,000

12

75
62

52
39

71

80

91 95

• We created new business teams to launchother businesses effectively.

49

22
2

8

11 17

0

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2FY2016• Content for advance reservations grewsteadily.

FY2017FY2018• We are considering undertaking M&As,
investments, alliances and other initiatives
proactively.

FY2019*1 Non-consolidated results (before consolidated adjustment)*2 The sales and operating profit increase rates are the year-on-year values.

Section 3(C) Gunosy Inc. All Rights Reserved.

PAGE |

25

Advertising
Business

Existing Advertisers

We released new automatic bidding functions in existing programmatic advertising to expand thecustomer base.
We also launched new content-linked ads such as coupons and live events.

Improvement of existing
programmatic advertising

1

CPC Optimizer Adjust CPA

Function that automatically
optimizes bidding prices
for targeted CPA

2

CPC Optimizer Max CLICK

3

Function that automatically
optimizes usage at lowest
bidding prices on a daily
budget basis

Conceptual image of automatic bidding

Launch of content-linked ads

APP Optimizer

Content-linkedadFunction that optimizes
bidding prices for apprelated projects

Actual CPA are getting
significantly higher thantargeted CPA!

Decrease
CPC

Optimization

Target costs

Automatic adjustment
in bidding process
Actual CPA are at low
levels compared withtargeted CPA!

Section 3

Increase
CPC

Commercialization of content-linked ads suchas the combination of article ads, live eventsand coupons.

(C) Gunosy Inc. All Rights Reserved.

PAGE |

26

Advertising
Business

New Advertisers (digwell and VIDPOOL)

Affiliate advertising orders remained good, and the sales of the subsidiary, digwell, increased.
We launched initiatives including the sale of packages aimed at advertisers of products and services for men
to make VIDPOOL profitable.

Sales grew steadily following the launch of
pay-per-click services for APP advertisers.

Launch of the sale of premium video packages aimed atadvertisers of products and services for men

Trends in net sales

Sportsoriented

Male useroriented
Entertainmentoriented

Q1

Q2

Q3

FY2018
Section 3

Q4

Q1

Q2

FY2019Newsoriented

Delivery to good male user-oriented media thathave 40 million views per week(C) Gunosy Inc. All Rights Reserved.

PAGE |

27

BC Business

LayerX

2018 年 11 月 30 日株式会社 LayerX
日本マイクロソフト株式会社

We will move forward with the報道関係者各位
development and expansion of consulting and technical support throughcollaboration with Microsoft Japan in BaaS.
2018 年 11 月 30 日株式会社 LayerX
日本マイクロソフト株式会社

LayerX と日本マイクロソフトがブロックチェーン分野で協業

報道関係者各位

2018 年 11 月 30 日株式会社 LayerX株式会社 LayerX（本社:東京都港区 代表取締役 社長:福島良典、以下 LayerX）と日本マイクロソフ
日本マイクロソフト株式会社
ト株式会社（本社：東京都港区 代表取締役 社長：平野 拓也）は、ブロックチェーン分野において協業を開始します。両社は、企業へのブロックチェーン導入コンサルティング、開発支援等のサポートな
LayerX と日本マイクロソフトがブロックチェーン分野で協業
報道関係者各位
どを行います。日本マイクロソフトは、Microsoft Azure ベースのブロックチェーンプラットフォームの提供に加え、エンタープライズ市場におけるブロックチェーン導入企業の開拓を行い、LayerX は、
ブロックチェーン技術を導入するためのコンサルティングや設計、開発などの技術的なサポートを行います。さらに、両社でブロックチェーン技術の普及に向けた施策を検討、実施していきます。

LayerX と日本マイクロソフトがブロックチェーン分野で協業

株式会社 LayerX（本社:東京都港区 代表取締役 社長:福島良典、以下 LayerX）と日本マイクロソフト株式会社（本社：東京都港区 代表取締役 社長：平野 拓也）は、ブロックチェーン分野において協業を開始します。両社は、企業へのブロックチェーン導入コンサルティング、開発支援等のサポートなどを行います。日本マイクロソフトは、Microsoft Azure ベースのブロックチェーンプラットフォームの提供に加え、エンタープライズ市場におけるブロックチェーン導入企業の開拓を行い、LayerXは、株式会社 LayerX（本社:東京都港区 代表取締役 社長:福島良典、以下 LayerX）と日本マイクロソフ
ブロックチェーン技術を導入するためのコンサルティングや設計、開発などの技術的なサポートを行い
ト株式会社（本社：東京都港区 代表取締役 社長：平野 拓也）は、ブロックチェーン分野において協ます。さらに、両社でブロックチェーン技術の普及に向けた施策を検討、実施していきます。
業を開始します。両社は、企業へのブロックチェーン導入コンサルティング、開発支援等のサポートなどを行います。日本マイクロソフトは、Microsoft Azure ベースのブロックチェーンプラットフォームの提供に加え、エンタープライズ市場におけるブロックチェーン導入企業の開拓を行い、LayerX は、
ブロックチェーン技術を導入するためのコンサルティングや設計、開発などの技術的なサポートを行います。さらに、両社でブロックチェーン技術の普及に向けた施策を検討、実施していきます。

＜背景＞
近年、ブロックチェーン技術のシステム導入に関心が高まっている中、日本マイクロソフトでは、2016
年より、パブリッククラウドプラットフォーム Microsoft Azure 上でブロックチェーンインフラの構築を支援する BaaS (Blockchain as a Service) の提供を開始しており、Nasdaq の Nasdaq Financial
Framework (NFF)など、すでに国内外で多くの企業に利用されています。また、LayerX は、ブロックチ
ェーン技術に特化し、ブロックチェーン技術の研究やシステムの開発、コンサルティングを行なってきました。この度、加速する国内のブロックチェーン技術の社会実装に対して、充実したブロックチェー＜背景＞
近年、ブロックチェーン技術のシステム導入に関心が高まっている中、日本マイクロソフトでは、2016
年より、パブリッククラウドプラットフォーム Microsoft Azure 上でブロックチェーンインフラの構築
https://news.microsoft.com/ja-jp/2018/11/30/181130-layerx-microsoft-azure/を支援する BaaS (Blockchain as a Service) の提供を開始しており、Nasdaq の Nasdaq Financial
Framework＜背景＞ (NFF)など、すでに国内外で多くの企業に利用されています。また、LayerX は、ブロックチ
ェーン技術に特化し、ブロックチェーン技術の研究やシステムの開発、コンサルティングを行なってき(C) Gunosy Inc. All Rights Reserved.
Section 3
近年、ブロックチェーン技術のシステム導入に関心が高まっている中、日本マイクロソフトでは、2016ました。この度、加速する国内のブロックチェーン技術の社会実装に対して、充実したブロックチェー
年より、パブリッククラウドプラットフォーム Microsoft Azure 上でブロックチェーンインフラの構築

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28

Investment
Business

Gunosy Capital

We carried out the first project, which is an investment in Zoomcar, the largest online car rental
company in India.
報道関係者各位
2018 年 10 月 11 日

Firstproject

発行 No. 119

Overview of investee
Gunosy Capital、 イ ン ド のオン ラ イ ン レ ン タ カ ー事業を提供する 「 Zoom car」 に初投資を 実施
株式会社 Gunosy（本社：東京都港区、代表取締役 CEO：竹谷祐哉、以下 Gunosy）は、投資育成事業を• Company name: Zoomcar, Inc.

行う子会社のコーポレートベンチャーキャピタル Gunosy Capital Pte. Ltd.（所在地：シンガポール共和国、代表取締役：木村新司、以下 Gunosy Capital）が、オンラインレンタカー事業でインド最大手の• Head office: Bangalore, Karnataka, India「Zoomcar」に初投資を行ったことをお知らせいたします。

• Representative: Greg Moran• Established: 2012
• URL: https://www.zoomcar.com/• Business: Online car rental and car sharing businesses「Zoomcar」は現在インド内で 25 都市を超える拠点を持ち、インドで最大手のオンラインレンタカー事業を行う会社で、急速に成長しています。車の所有率が世界と比べて非常に低いインドでは、オンラインのカーシェアリング事業は新しい解決策として受け入れられています。
インドの経済はここ数年で急成長しており、成長率は今後３年間で年率 7％以上にまで上昇する（※1）と見込まれており、2025 年までに 5 兆ドルに達する（※2）と予想されています。また、その後も引き続き高い成長率での経済拡大が見込まれており、 2050 年には米国を抜いて世界第 2 位になる（※3）とも言われています。こうした背景から「Zoomcar」の事業は今後大きな成長機会が見込まれると判断し、今回の投資に至りました。

（※1） 「世界経済見通し(GEP)」2018 年度 1 月版（英語）（※2） World Economic Outlook Update, January 2018（※3） The World in 2050

https://gunosy.co.jp/news/129

Section 3(C) Gunosy Inc. All Rights Reserved.

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29

Appendix

Reference Materials: Overview of Gunosy Inc.

(C) Gunosy Inc. All Rights Reserved.

Overview of Gunosy Inc.
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:

4,011 million yen(as of the end of November 2018)

・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:

170 (as of the end of November
2018, 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

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31

Directors

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 Tomiduka

Hiroki Teshima

Hirokazu Mashita

In 1986, he joined DDI Corporation (now KDDI
Corporation). After serving as Representative Directorof mediba Inc. and Representative Director of
WebMoney Corporation, etc., he currently serves as
General Manager of Advanced Business Development
Division, Life Design Business Sector, KDDI
Corporation. 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 of emachitown 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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32

Business Model: Gunosy Ads
News

Revenue

Interests
GunosyTargeted 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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33

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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34

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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35

Optimally deliver information to people around the world