GMO Internet Group, Inc.
Financial Results Briefing for the Fiscal Year Ended December 2023
February 13, 2024

Event Summary[Company Name]

GMO Internet Group, Inc.

[Company ID]

9449-QCODE[Event Language]

JPN[Event Type]Earnings Announcement[Event Name]

Financial Results Briefing for the Fiscal Year Ended December 2023

[Fiscal Period]

FY2023 Annual[Date]

February 13, 2024

[Number of Pages]

53[Time]

16:00 – 16:50(Total: 50 minutes, Presentation: 50 minutes)[Venue]Webcast[Venue Size][Participants][Number of Speakers]

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Masatoshi Kumagai
Masashi Yasuda

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Founder, Chairman and Group CEO
Director, Executive Vice President and Group
CFO, Deputy to Group CEO

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Presentation
Moderator: Good afternoon, everyone. Thank you very much for taking time out of your busy schedules today
to participate in GMO Internet Group, Inc.’s full-year results briefing.
We would like to inform you about the speakers for today's briefing. The two participants in this briefing are
Masatoshi Kumagai, CEO, Founder, Chairman, and Group CEO; and Masashi Yasuda, Director, Executive Vice
President, Group CFO, and Deputy to Group CEO.
Today, they will provide an overview of the financial results, followed by a Q&A session. The presentationmaterials regarding the financial results are available on the Company's website.
After the event, a link to a survey will be displayed, and we would appreciate it if you could answer it. Thankyou very much for your cooperation.
Now, President Kumagai will give an explanation.
Kumagai: Hello, everyone. I am Masatoshi Kumagai, CEO of GMO Internet Group. Thank you very much fortaking time out of your busy schedule to join us today.

Today's agenda is as shown.

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Next page.
The results for the full year are shown in these figures.

Sales, shown on the left, have increased for 15 consecutive fiscal years.
Operating income, shown on the right, landed close to the previous year, with the existing internet
infrastructure business and internet finance business posting their best results, although profits from
cryptoassets, in green, and the incubation business, in gold, declined.
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If you look at this chart, light blue is the internet finance business. JPY10.7 billion, JPY8.5 billion, JPY10.6 billion,
JPY11.7 billion, JPY9.2 billion, and JPY13.7 billion, the highest performance ever.
The internet infrastructure business is in blue at the bottom. JPY11.4 billion, JPY14 billion, JPY16.2 billion,
JPY19.2 billion, JPY21.9 billion, and JPY28.7 billion.
As a result, it reached JPY42.4 billion, and the most important point to report for this fiscal year is that wewere able to achieve almost the same profit with organic growth, even though we lost JPY10 billion and JPY9
billion, as you can see in the breakdown of JPY43.7 billion and JPY41 billion from the previous fiscal years.
As you can see, sales totaled JPY258.6 billion, and although the rule for recording sales was changed about
two years ago, with a dotted line between 2021 and 2022, sales have increased for 15 consecutive fiscal years.

On the next page, I would like to share with you my personal qualitative evaluation.
On the far right is what I felt and shared with you last year in the form of ◎ for very good, ◯ for good, △ foraverage, and ✘ for not good. I will report how the last fiscal year went.
As you may have seen in the chart earlier for internet infrastructure, our dominant number one service andface-to-face payment sector have contributed to particularly large contracts and sales increase, and the
expansion of the security area also contributed to large contracts, so I am now feeling that all of these werevery good.
In the online ad and media business, both existing and new businesses performed well in the in-house media
business, but the advertising business suffered a setback due to a reactionary decline in some industries,
resulting in average evaluation for the last fiscal year.
As for the finance business, as I have already reported to you, an additional JPY3.1 billion in allowance for
doubtful accounts for Thai securities has been recorded, which is not good evaluation, but the profitability ofSupportJapan
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securities and FX has improved significantly, and the highest results were achieved, which resulted in very
good evaluation.
In the cryptoassets business, the market has recently recovered, but last year was still sluggish. The exchange
business has recently recovered, but the mining and stablecoin businesses are still not good, which resulted
in average evaluation.
As for incubation, as you saw in the chart earlier, the year before last, we recorded about JPY10 billion in
investment business income, but last year, there were some large and small exits, but no large-scale exits, so
the evaluation is a dash.
This is what I would like to report to you, although it's very qualitative.

The following is an analysis of the YoY increase and decrease in net sales and income by segment.
On the left is net sales, and on the right is operating income.
As I have explained, the core businesses of internet infrastructure and internet finance have increased
performances, but with the impact of the incubation business, it resulted in a JPY12.9 billion increase inconsolidated net sales and JPY1.2 billion decrease in consolidated income.

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5This is about shareholder returns, which you always see.
Our basic policy is a total return ratio of 50%. It has not been changed. Of this amount, 33% is allocated todividends and the remaining 17% to the repurchase and cancellation of treasury stock. It is the breakdown for
repurchase and cancellation.

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The next page shows the dividend per share.
The forecast for the financial results and dividends for the current fiscal year are also undisclosed. For thisreason, we will also announce dividends on a quarterly basis.
The year-end dividend is JPY14.2, for a total annual dividend of JPY44.1.

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7This page reports on the repurchase and cancellation of treasury stock.
We would like to reiterate our announcement regarding our shareholder return policy, which we disclosed
nine years ago in July 2015, including the establishment of a long-term share repurchase target, and reporton the progress we have made.
First, let me review again the background of the target setting. In 2006 to 2007, when we withdrew from theloan and credit business, we issued new shares to increase capital, and we apologize to our shareholders forthe inconvenience caused by the dilution. About nine years ago, we set a target to repurchase the 38.35
million shares we had issued at that time, no matter what it took, no matter how long it took, and to cancel
and restore all of them, as we felt this would be an appropriate way to return profits to our shareholders. We
are continuing to keep our promises in a calm and solemn manner.
The status of treasury stock repurchased and cancelled is as shown. When we set the target, we envisionedthat it would take decades to complete the project, but we feel that we are moving forward well ahead ofschedule.

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The next page shows the transition of repurchase and cancellation of treasury stock.
The blue bar represents the shares that have been repurchased and cancelled, the dotted line represents theshares that will be cancelled in the current period, and the light blue bar represents the shares that have notbeen cancelled but are held as treasury stock.
We would like to cancel the light blue portion as soon as the profit increases. In addition, 17% of last year's
profits will be repurchased this year as the source. The Board of Directors has just passed a resolution on that
as well.

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9This is what the Board of Directors has just resolved.
Based on the basic policy, we will start repurchase tomorrow, using JPY2.41 billion, or 17% of last year's final
profit, as the source.
We will continue to steadily return profits to shareholders, taking into consideration the balance withshareholders' equity. We look forward to fulfilling our long-term commitment to you.
Before going into the details of our performance, I would like to reiterate our strengths. Let me explain our
two main strengths.

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The first is a strong commitment to in-house development and operation.
We develop and operate it ourselves. It is not about outsourcing and leaving the operation to the outsourcer.
We make all of our products ourselves.
In order to keep winning in this fast-changing industry, the internet industry, we are committed to providing
the number one service. We have a strong belief that unless we provide the best service, our customers will
not be satisfied, and we have strong aspirations to create the best products.
We place great importance on people who create things by using their hands and minds, such as engineers,
creators, and directors.

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We call our employees as partners, and one indicator is the ratio of partners for manufacturing, which we
manage as a KPI. As you can see, 50.1% of all partners are now manufacturing associates as of the end of lastyear.
The number of partners was 7,400 at the end of the fiscal year. Since GMO Aozora Net Bank is a consolidated
subsidiary of Aozora Bank, Ltd., the total number of partners in the Group, including the bank, is 7,700, of
which slightly more than half are manufacturing professionals. We intend to raise the number of these people
by another 10% to 60% in the near future.
First of all, this is one of our strengths.

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The second strength of the Company is its solid recurring revenues.
This is a GMO term. Solid recurring revenues is a GMO term. Some people call it subscription in today's popularterminology, but we believe that it is distinct from the subscription that many people are talking about.

Solid recurring revenues are not going away unless and until the internet industry goes away. As long as theinternet industry continues, it is indispensable and will not disappear. And let me refer to subscription
products and recurring billing type products as solid recurring revenues in GMO terminology.

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The second point of our strengths is that the solid recurring revenues are very high as a percentage of oursales.

The chart on the next page shows the history of the Company since its establishment in 2001.
We started the business in 1995, and although the period from 1995 to 2000 is omitted, we have been growing
steadily for most of the time, though there were times we have suffered and figures declined. This is, inessence, because sales are composed of solid recurring revenues products.

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Next page.
56.4% of the total sales will be from solid recurring revenues products. More than half are from these stockincome products.
We have a little over JPY100 billion of transaction revenues on solid recurring revenues. Blue is solid recurring
revenues, and gray is transaction revenues, which make up the overall revenue.

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On the next page, if we factor out the blue solid recurring revenues you just saw, we get the number ofcontracts multiplied by the unit price. The unit cost is approximately JPY800 per month, multiplied by 12months, which is JPY9,600, about JPY10,000.
We have15 million contracts with about JPY10,000, which means JPY145 billion in sales.

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And what is happening with these contracts is that, believe it or not, we are still receiving over 10,000 new
customer applications every day, including Saturdays and Sundays, and even on holidays. We have been inbusiness for 28 or 29 years, and we still receive more than 10,000 new applications for various products everyday.
But of course, some customers terminate their contracts, so the net increase is not 3.65 million per year. But
with the net increase, we actually have 1.12 million more customers. 1.12 million on average over the past
five years, averaging annually.
In other words, it is about JPY10 billion or more. At a unit price of JPY10,000, that is JPY11.2 billion, but at
JPY9,500 or JPY9,600, GMO's earnings strength lies in the fact that approximately JPY10 billion of sales arebeing accumulated.
We are developing and operating two strengths ourselves. The other point is that the revenue model consistsof this kind of solid recurring revenues, which still receive 10,000 applications every day. As you can see fromthe chart, this trend is accelerating.
These are our major strengths.
Mr. Yasuda, CFO, will present the detail in the Group's overview. Later, in the topics, I will explain what I am
most focused on at the moment. Thank you.
Yasuda: I am Yasuda. From this part, I will explain. Thank you.

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First, here is an overview of our business areas.
The size of the area indicates the composition of sales.
The number of internet infrastructure contracts as the solid recurring revenues base, as Kumagai introduced
earlier, combined with the number of FX, securities, and cryptoassets accounts, brought the customer baseto 18.19 million.

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Then, the market capitalization of the 10 companies listed in the Group and the Company's equity share are
as shown.

Here are the quarterly sales by segment.
At the bottom in blue, the growth trend centered on internet infrastructure continues.

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Next is the quarterly operating income by segment.
Our view of sustainable growth through highly profitable internet finance businesses based on the solid
recurring revenues of internet infrastructure has not changed at all.

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Next is internet infrastructure. These are the details of the internet infrastructure business.
Domains, hosting and cloud, ecommerce platform, SSL security, eSignature, cybersecurity, payment, andprovider (ISP) are a set of number one services which are indispensable and will not disappear for the internet
society.

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Next is six years of full-year results for the internet infrastructure.
On the strength of our revenue model of solid recurring revenues, we achieved our highest performances ineight consecutive fiscal years.

The following is a transition of the quarterly sales and its breakdown.
Taking advantage of our strength as the dominant number one service provider, each of our businesses is
growing in a well-balanced manner.
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In this most recent quarter, in green, the security business has grown significantly. This was thanks to thecontribution of a large project in the brand security business and to the strong performance of thecybersecurity business toward the end of the fiscal year in March.
On the other hand, the apparent sales of ecommerce solutions have decreased due to the inclusion of
approximately JPY2 billion of negative impact from the application of net value process in this quarter.
While the overall segment revenue growth rate was 9.3%, the actual revenue growth rate was about 14%
excluding this effect.

The following is the quarterly operating income transition.
Profits are also on an upward trend as solid recurring revenues continue to accumulate.
Each company is currently achieving well-balanced growth, and in Q4, the contribution of the brand security
business, as I explained earlier, was particularly large.

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I would now like to explain the progress of the security business, which the Group is currently focusing on.
The slogan of the security business is, "Safe and Secure Internet for Everyone." We have set this slogan tomeet the accelerating need for security.

The security business consists of three areas, as shown here.
We provide encryption security, such as SSL, using authentication technology; cybersecurity by the world's
strongest group of white hat hackers; and brand security by domain and trademark professionals.
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First, let's talk about GMO Sign in encryption security.
As you will see, we are number one in the country not only in the number of e-contract accounts, but also in
the number of contracts.

First, the number of e-contract accounts.
Since the Group’s wide campaign for the abolition of seals in May 2020 during the COVID-19 pandemic, thecustomer base has continued to expand by the network effect and the Groups’ synergies.
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As you can see, we have been steadily introduced to major companies, such as two mega banks, and webelieve that we are still in the market expansion phase.

Next is the number of contracts.
We view the number of contracts as a KPI that indicates high customer activity.
The number of customers with high activity, such as those in the real estate industry, has been steadily
increasing.

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Then, there is the digital government initiative.
GMO Sign and electronic delivery are being introduced. By converting notices that used to be delivered in
paper into electronic form, we support our customers in promoting DX and contributing to the SDGs.
We are aiming at number one in terms of the number of local governments introducing GMO Sign, and 72
local governments have already decided to introduce the system.
This electronic delivery is a differentiated service that can only be provided by our own certification authority
technology.
Together with the number of e-contract accounts and contracts, we aim to achieve the triple crown, which
will lead to further growth.

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Next is the cybersecurity business.
First, here is an update for the world's strongest white hat hacker group, GMO Cyber Security by IERAE.

GMO IERAE SOC Yoga was opened in January at GMO Internet Tower in Yoga, Setagaya-ku, Tokyo. SOC stands
for Security Operation Center, which is a centralized base for monitoring and defending against cyberattacks.
In fact, it is not easy for a company or organization to set up its own security monitoring team. We havedecided to start providing a new outsourced SOC service to companies and organizations with security issues,
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utilizing IERAE’s defense technology. We will utilize this base so that when people think of cybersecurity, they
think of GMO.

Next is the progress of our SaaS-type product, Cyber Attack Net de Diagnosis, which brings the skills of our
top engineers to more customers. Net de Diagnosis automatically checks for weak points on the site byentering the domain name and informs you of the results with scoring. Anyone can easily diagnose the safetyof a site with a high level of security.
Last May, the Ministry of Economy, Trade and Industry issued guidance on the introduction of ASM. ASM
stands for attack surface management, and it is gaining attention as a method to protect one's IT assets fromcyberattacks. Net de Diagnosis is a service categorized under this ASM.
At present, API integration with 6 million domain customers has been completed.
We will see it as a marketing phase and focus on the tuning. We will continue our efforts to make Net deDiagnosis the next indispensable service.

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Finally, we would like to introduce you to our new partner in the cybersecurity business. They are Flatt Security
Inc., which we announced today. They joined the Group, and it was just announced in the disclosure.
Flatt Security is a group of product security professionals who develop cybersecurity-related business for
product development organizations. In addition to professional services, such as security assessments, theyalso develop and provide security products and have supported companies in a variety of industries andsectors in creating product security strategies and organizations. We anticipate strong synergies with ourinternet infrastructure customer base.
The Group has a multi-brand strategy, and the same is true in the area of cybersecurity. The market forcybersecurity is expected to continue to grow. Through friendly competition, IERAE and Flatt Security willcontribute to the development of cybersecurity both domestically and internationally to realize a safe andsecure internet. Please stay tuned.

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The next is online ad and media.
Here is a six-year transition of full-year results.
Although the highest profit was recorded in the previous fiscal year, sales increased with decreased profits inthe current fiscal year. In this segment, we have four listed group companies, but some companies did well,while others struggled.
As for internet media in blue, GMO Media Inc. performed well mainly in their existing and new in-house media.
On the other hand, in light blue, online advertising, GMO TECH, Inc. performed well, but GMO AD Partners
Inc.’s advertising agency struggled due to a greater-than-expected decline in stay-at-home demand and areduction in advertising demand during the peak season in some industries.
We worked on cost-cutting and other measures but were unable to fully compensate for demand loss.

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The following is a transition of quarterly net sales and their breakdown.
The trend is similar to the full-year results I have just explained.
For online advertising in light blue in particular, there were changes in trends related to the advertisingbusiness, and market conditions deteriorated more than expected in H2. While we have seen an increase indemand for some advertisers as a result of the easing of movement restrictions for the COVID-19 pandemic,
others who enjoyed stay-at-home demand decreased their budgets. Demand depends on the characteristics
of advertisers. The market decline was also due to a decline in unit advertising prices for advertisingtechnology products.

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32Here are the quarterly operating income figures.
The loss recorded compared to the previous year is due to the execution of a strategic investment of just over
JPY600 million.
In the ongoing fiscal year, in order to grow the segment as a whole again, segments with good performance
will continue its current measures, while GMO AD Partners implemented the integration of its groupcompanies in January of this year.
We will promote efforts to strengthen our own commercial products by integrating production and sales.

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The next is internet finance.
This is a six-year transition of full-year results.
The FX business has performed well because of increased market volatility and measures to improve
profitability. CFD also maintained a high trading volume, with volatile movements in commodity prices causedby the global situation.
Despite a provision of allowance for doubtful accounts of JPY3.5 billion in Thai securities, the Company posted
its best results ever, reflecting its growing revenues.

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Next, the quarterly performance trends are as shown.
In the same period of the previous year, a JPY3.5 billion provision in Thai securities was recorded, resulting ina quarterly operating loss.
In Q4 of the current fiscal year, despite a JPY1.2 billion provision, both sales and income increased comparedto the previous year.
As I mentioned earlier, this is because of the increased volatility in the foreign exchange market and the effectsof the profit improvement measures that we have been strengthening since the end of FY2022.

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35Here is the transition of sales by products.
FX, in blue, performed well, thanks to the tailwind in the market and, as I mentioned earlier, the progress ofmeasures to improve profitability.
CFD, in light blue, maintained high levels, reflecting the increased volatility in commodity-related indices.

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36This chart shows the relationship between sales and trading volume in the FX business.
Volatile market conditions during this quarter brought trading volume back to an increasing trend. The
ongoing measures to improve profitability have produced remarkable results in our business performance.

The next is cryptoassets.
Cryptoassets has three businesses, which are mining, exchange, and payment.

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37This is a six-year transition of full-year results.
After peaking in 2021, when the cryptoassets market was booming, conditions in the cryptoassets market are
still challenging.

The following is a transition of quarterly sales and its breakdown.
As for the exchange business, although the market was weak in H1, it has been showing signs of picking up
since Q1 of the current fiscal year.
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Although the YoY comparison appears to show a decrease in revenue due to a special factor of a change inthe sales recurring classification, the revenue increased in comparison with the last quarter.
The number of GMO Coin accounts has grown steadily in this environment.

Here is the transition of quarterly operating income.
While the previous year's Q4 was profitable, thanks to special factors, Q4 of this year was profitable for thequarter with organic growth in earnings as a result of increased transaction volume.
While waiting for the market environment to continuously recover, we will continue to implement internalmeasures in a straightforward manner to build a system that will be profitable when the market becomes
active again.
The status of each business is as I explained.
The last topic will be explained by Mr. Kumagai, Group CEO.
Kumagai: This is Kumagai again.
Finally, I would like to share with you the project that is currently taking up the most of my brain. In otherwords, it is the project on which the Group is most focused.
Since hiring its first data scientist about 10 years ago, GMO Internet Group has promoted research anddevelopment of AI, including analysis of financial data, and has achieved a great deal of success. And,
foreseeing even greater change with the arrival of ChatGPT, an open AI led by Samuel Altman, on November
30, 2022, we were among the first to begin using AI throughout the Group.

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The slogan for this year for the Group, with 7,700 people, including banks, which we are constantly aware of,is, "No. 1 Corporate Group in Creating the Future with AI."Specifically, we are continuing to use AI to save time and money, improve the quality of existing services, andprovide new services to the AI industry.
The history of GMO Internet Group's AI and our efforts to develop generative AI, including GPT, can be foundon the top page of gmo.jp, where a special site has been created. We encourage all interested parties to takea look.
On the next page, I will briefly explain our efforts to become the number one corporate group creating thefuture with AI.

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On the next page, here is a Bloomberg source on the growth prospects for the generative AI market through2032.
There are various theories, but it is said that the AI-related industry will not only grow by double digits overthe next 10 to 20 years, but by 40% or 30% depending on reports.

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41This AI-related market is growing, and investors are curious on how much cost savings can be realized for thecompanies they are investing in.
In the US, AI has already triggered layoffs, and more and more US companies are announcing it. How much
can they realize in personnel reductions?
Microsoft also announced excellent financial results for AI, but we wonder how much sales related to AI willgrow.
I think investors’ interests can be summarized in these three points. I would like to report on these points.

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First of all, for how much GMO Internet Group can cut the costs this year with AI, we had a budget meeting
called GMO Summit in November. The executives stayed overnight to make this year's budget, which we calla target within the Group, and we have been putting efforts since this January, with the target of reducing
costs by JPY1.8 billion, improving operational efficiency, and increasing productivity.
We have issued a press release on this matter today, so please refer to the press release later for details on
how we are reducing costs.

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As to how much personnel can be reduced, it is the companies, especially in North America, that are reducing
personnel.
In Japan, there is the issue of the Labor Standards Act, and we also have responsibilities on employment, so
we have no intention of reducing our workforce at all. We are not such a cold-hearted group. We do not
implement personnel reduction due to the Labor Standards Act, nor fire partners who supported us because
AI can replace them.
We are planning to have all our partners grow into AI players and use AI at once to increase the productivityof the entire group.
However, if the number of people who cannot use AI increases rapidly within the Group, those people who
cannot use AI may become a burden. Therefore, we have issued a notification that we should stop hiringordinary people who cannot use AI or who will not use AI.
We have been saying that we should hire people who can use AI as a tool, and this has been implemented forabout a year now, which we call AI code hiring. As you can see, the number of partners has remained flat orslightly increased with a few dozens, but I report it to you that the pace of increase has changed from what it
used to be.

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In addition, the following page.
With regard to the existing 7,700 personnel, which are 7,400 plus 300 in the bank, we continue to takeconstant measures and efforts to convert the existing personnel to the one with AI capabilities. As you cansee, in February, we launched a short-term AI human resources development program, Tora no Ana, which isa reskilling program for non-engineers.
As you all know, the new curriculum guidelines for high school students starting in 2022 will makeprogramming, data application, and information courses mandatory, and we need to be the company ofchoice for the next generation of AI natives.
Starting in 2028, students who have taken that information course through the Common Test for University
Admissions will join the Company. They have had the internet since they were born, are in constant contact
with their smartphones, have been learning basic information subjects for a long time, are now in university.
They are the ones using AI the most, not us as businessmen, but students who can afford the time.
When students who have done basic learning and are trying their best to graduate with full use of AI join the
Company, if we, 7,700 people, do not have enough knowledge about AI and tell students with calculator touse abacus, I think this is the end of the Company.
Therefore, I think we need to be capable of AI before those students join, and we are promoting AI educationin the Group so that no one will be left behind in having AI capabilities.

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Now, this is the future growth curve of the AI market, which you saw in the beginning.
With regard to AI, especially generative AI, AI thinks and puts out new information by deep learning theexisting information on the internet and weaving new words around it.
As to the information in the existing internet, for example, in the case of Japanese language, you will use
Google Japan and Yahoo! JAPAN for the search. For 90% of the websites, GMO provides domain, and morethan 50% of those websites have their information stored in our data center.
In other words, the data being trained by the generative AI is data that GMO was originally involved with insome way.
I have given a great deal of thought to whether or not we, the GMO Internet Group, should devote ourselvesto the AI industry. It was over a year ago, but I thought about it. AI will play a leading role in the second halfof the internet revolution, but we still need to think carefully about whether we should go there or not.

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After much thought and study, I have found that what will grow in the AI market in the future is, after all,infrastructure.
As you can see in this chart from Bloomberg, in 2027 and 2032, devices will grow, software and services will
grow, but without LMN, generative AI, and data infrastructure, or infrastructure, the AI industry will not be
viable.
In that case, I think we should do our best to promote this infrastructure for the sake of Japan and the AI
industry. GMO is the company that has been the most successful in spreading the use of infrastructure in
Japan. Therefore, I have come to the conclusion that we should also do our best and take risks to promote
generative AI.

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We are already promoting the .ai domain for use by various AI start-ups, for example, and have concluded apartnership agreement with NVIDIA to use their high-performance servers called H100 in the cloud. We havealready started providing infrastructure.
We have also started to provide funding and other support through GMO AI & Web3 for start-ups, though not
limited in domestic, to boost the AI industry.

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But we will not stop there. As we have just resolved at the board meeting, we will further accelerate ourcollaboration with NVIDIA to expand the AI industry, and we have resolved to invest an additional JPY10 billion
in servers by the end of the summer.
By making such investment in NVIDIA's latest servers, the Group hopes to promote the expansion of this AI
industry to the fullest extent possible.

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49So, this is our report to the investors. I will close with a brief summary.
First of all, I would like to report on these financial results, and the bottom line is that both of our corebusinesses, internet infrastructure and internet finance, posted their best results, and excluding them, weposted a 26.6% increase in profit. We have achieved strong growth.
Furthermore, we will continue to grow sustainably based on our solid recurring revenues, which I have
explained as one of our strengths.
With the slogan, "No. 1 Corporate Group in Creating the Future with AI," which I have just explained in thelast topic, I would like to make this fiscal year especially a year to visualize the results of our AI investment
and AI utilization in figures.
As for AI, we will start with this infrastructure. And the security business, which we are now putting all ourefforts into will not disappear no matter how much AI grows. There is a saying in the Bible from 2000 years
ago, "You Shall Not Steal." There were bad guys 2000 years ago, so there are still bad guys 2000 years fromthen. Therefore, I believe that no matter how AI develops, this security business will not disappear; in fact, its
field of activity will expand.
We would like to provide the infrastructure for AI, provide funding for AI start-ups, and in the next step, we
would like to expand our business to include AI and security.
This concludes the financial results report. Internet for all. Thank you for your attention.
[END]______________
Document Notes
1.
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TollfreePortions of the document where the audio is unclear are marked with [Inaudible].

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2.
3.
4.

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TollfreePortions of the document where the audio is obscured by technical difficulty are marked with [TD].
Speaker speech is classified based on whether it [Q] asks a question to the Company, [A] provides ananswer from the Company, or [M] neither asks nor answers a question.
This document has been translated by SCRIPTS Asia.

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