Q2 Results for FYE January 2018

Presentation Material

01Company Profile
Company Name

Enigmo Inc.

Main Business

Management of social shopping site "BUYMA"

Location

Juko Bldg. 7F, 1-26-1 Minami Aoyama, Minato-ku, Tokyo

Date of Establishment

February 10th, 2004

Representative

Representative Director and Chief Executive Oﬃcer Shokei Suda

Capital381.9 million yen

Number of Employee

100 people (consolidated, 82: non-consolidated)Accounting Period

January 31stMajor Shareholder

Executive oﬃcers & Sony Corporation

Audit firm

Ernst & Young ShinNihon LLC

02

History
February 2004

“Period of foundation” – 1st stage of foundation

Commencement of BUYMA services

Number of members:
0 – 100,000 people-- Founded in February 2004-- BUYMA released in February 2005, the following year, under the theme of “It has value, no matter
where you are”

February 2006

“Period of expansion” – 2nd stage of foundation

Increase of capital / diversification of lines of business

Number of members:
100,000 - 800,000 people-- February 2005 - March 2006 Implementation of capital increase through third-party allocation-- BUYMA, which had achieved a positive balance on a monthly basis in 2008, grows into ourcompany’s main line of businessFebruary 2012

“Period of transition” – 3rd stage of foundation

Structural reforms

Number of members:
800,000 – 1.7 million people-- 2012 - Heavy concentration of management resources on BUYMA-- July 2012 - Listing of company on TSE Mothers

February 2014
Japanese, English and Korean
language versions of the site

“Period of globalization” – 4th stage of foundation

Commencement of global expansion / path to becoming the“No. 1 overseas online shopping service”-- December 2013 - Release of BUYMA Korea, the Korean language version of the site

Number of members:
1.7 million – 4.4 million people(a s o f th e e n d o f J u ly 2 017)-- February 2015 - ROCKET VENTURE, a service which administers media aimed at young
women, is acquired as a subsidiary company-- October - Release of BUYMA, the English language version of the site-- March 2016 - BUYMA KOREA is acquired as a subsidiary company

03

Structure of business operations

Social commerce businessMedia business[]Japanese, English and Korean language versions of the site

SHOP

1

2

List item

Order item

Point

3
Point

Purchasing after
the order has
been received

Purchase
item

4

t f
e n - o e)mictle (5% pretntr s en tiocfoe ym sa
Fe pa ranof e tthFof ee
tr co unan n desa tra r act ct grion (5% eempric 〜7 ent
e) %
of
t

he

Media aimed at young women

Original payment
systemDispatch item

Personal shoppers(sellers)

Media aimed at housewives
and mothers

Positioning of advertising media as
administrative media
Buyers

Revenue generated from fees paid by both parties involved in the transaction
Buyers: Around 5% of the item price (+ other optional fees)
Personal shoppers: Brokerage fee of 5% – 7% of the item price (depending on thegrade as a personal shopper)

Revenue calculated mainly fromadvertising revenue
With the publication in June 2017 of thefirst issue of “4MEEE,” a media-linked
magazine for women, we aim toestablish a firm position as a providerof media for women.

04

Business performanceFirst half of FYE January 201805

Overview of business performance for FYE January 2018 (consolidated)
Around 8% behind initial forecasts for both overall trading volume and revenue
In terms of operating profit in our social commerce business, we experienced an increase in revenue and a fall in profits
more than initially forecast as a result of strategic investments (expansion and relocation of human resources and ourheadquarters).
With our media business, we posted a deficit due to continuing 1Q despite showing increasing recovery.
FYE January 2017
First half of the year
Consolidated total for period

FYE January 2018
First half of the year
Consolidated total for period

YoY

14.82 billion yen

16.67 billion yen

112%

1.90 billion yen

2.05 billion yen

108%

Social commerce business1.74 billion yen

1.92 billion yen

111%

Media business0.16 billion yen

0.12 billion yen

76%

0.82 billion yen

0.68 billion yen

83%

Social commerce business0.78 billion yen

0.72billion yen

92%

Media business0.03 billion yen△0.03billion yenーOrdinary profit

0.82 billion yen

0.67billion yen

81%

Current net earnings

0.54 billion yen

0.45billion yen

83%

26.39 yen

21.82 yen

83%

Overall trading volume *Revenue

Operating profit / loss

Current net earnings per share (JPY)* Overall trading volume: Amount of account settlements including such things as payment for goods and fees for settlement of payment in contracted transactions.

06

Selling and administration costs (consolidated)
In addition to an increase in labor costs resulting from a reinforcement of general infrastructures and infrastructures forsettlement of payment, the content of a prior investment, we also experienced an increase in the amount of points issued
due to the penetration of compensation services.
Temporary costs arose in the connection with the relocation of our headquarters, resulting in 130% YoY.

FYE January 2017
First half of the year
Consolidated total actual
performanceFYE January 2018
First half of the year
Consolidated total actual
performance

YoY* Labor costs※Including costs for
temporary workers,
outsourcing etc.

327 million yen

437 million yen

133%

Advertisingcosts

258 million yen

313 million yen

121%

Write offs

9 million yen

9 million yen

104%

Costs relating tosystems

22 million yen

34 million yen

150%

Other

168 million yen

225 million yen

134%

Total

787 million yen

1,020 million yen

130%

Main factors for increase or decrease

Project management /production anddevelopment* Excluding outsourcing

11 people(actual performance in firsthalf of year)

19 people(due to be hired)

Customer services

2 people(actual performance in firsthalf of year)

8 people(due to be hired)Other

4 people(actual performance in firsthalf of year)

6 people(due to be hired)

Increase in the amount of points issued due to the penetration ofcompensation services

Temporary costs arising in the connection with the relocation of ourheadquarters

07

Revenue

Consolidated revenue of 2.05 billion JPY, 108% YoY
Transition to a consolidated performance
4,500

4,147

3,600

2,858

2,058

2,700

2,285

1,800

1,823
1,909

900

1,103

806

1,198

0
FYE Jan. 2014

(Unit： million yen)FYE Jan. 2015

FYE Jan. 2016

FYE Jan. 2017

First half of
FYE Jan. 2018

Revenue for the first half of the year08

Operating profit / profit ratio

While revenue rose,a major increase in selling and administration costs due to priorinvestments led to a decrease in the ratio of operating profit.
2,000

52.3%

Transition to a consolidated performance
1,768

60.0%

First half of FYE
January 2017
43.0%

46.7%
1,600

1,196

42.6%

33.2%

40.0%

30.0%

1,200

852
800

Implementation ofmass media campaigns

400

568
349

219

821

682

20.0%

10.0%

7.7%

0.0%

0

-41
-10.0%-400
FYE Jan. 2014

(Unit： million yen)FYE Jan. 2015

Operating profit for the first half of the year

FYE Jan. 2016

FYE Jan. 2017

First half of
FYE Jan. 2018

Profit ratio

09

Variance analysis of operating profit
BUYMA (Japanese language version) /BUYMA (English language version)

Difference in net
profit on revenue
148 million yen

Increase in selling and administration
costs due to prior investments

Difference in selling andadministration costs
197 million yen

47 million

Difference inoperating profit
49 million yen

BUYMA(Korean language version)

38 million yen

Difference inoperating profit
17 million yen

Difference inoperating profit
72 million yen

821
million yen

First half of
FYE January 2017

Social commerce
Business factors

Media
Businessfactors682
million yen

First half of
FYE Jan. 2018

Operating deficit

10

Business Situationof BUYMA

11

Content of business

Unique “CtoC” that brings people from around the world together
Social shopping site that provides a special purchasing experiencealong with limitless encounters with fashion items
Number of items listed

More than 2.4 million items
Number of personal shoppers

99,000 people

Countries of residence of personal shoppers

137 countries

Average purchase amount

16,641 JPY

Average age of users

33.1years
Users by sex

Female: 75.8% Male: 24.2%* Based on the first half of the year, as of the end of July 201712

Number of members

Number of members has reached4.45 million people, 128% YoY

4,452,434

4,500,000

3,998,041

3,375,000

3,004,769

3,486,313

FYE Jan. 2016

FYE Jan. 2017

2,235,261

2,250,000

1,693,994

1,125,0000FYE Jan. 2014

FYE Jan. 2015

First half of
FYE Jan. 2018

(Unit：Person)* Including the English language version from the first half of FYE January 2016; including the Korean language version from the first half of FYE January 201713

Number of active members

Number of active members(members with a purchase history within the past year)
has reached 930,000 people, 121% YoY

933,472

1,000,000

885,308

750,000

634,152

769,542514,989
500,000

496,620

250,0000
FYE Jan. 2014
(Unit：Person)

FYE Jan. 2015

FYE Jan. 2016

FYE Jan. 2017

First half of
FYE Jan. 2018

* Including the English language version from the first half of FYE January 2016; including the Korean language version from the first half of FYE January 201714

Overall trading volume

Overall trading volume of 16.6 billion JPY, 112% YoY
35,00033,277

26,25024,44016,673

20,68417,50017,115

14,828
8,750

7,547

9,978

10,5480FYE Jan. 2014

(Unit： million yen)FYE Jan. 2015

FYE Jan. 2016

FYE Jan. 2017

First half of
FYE Jan. 2018

Business performance for the first half of the year

*Overall trading volume: Amount of account settlements including such things as payment for goods and fees for settlement of payment in contracted transactions*Including the English language version from the first half of FYE January 2016; including the Korean language version from the first half of FYE January 201715

Number of transactions handled

Number of transactions handled exceeded 1 million for
the first time ever based on the first half of the year, 114% YoY

2,000,000

1,853,817

1,500,000

1,309,714

1,001,996

1,125,819
1,000,000

1,004,528

875,983
500,000

444,933

589,695

587,9120FYE Jan. 2014
(Unit： million yen)FYE Jan. 2015

FYE Jan. 2016

FYE Jan. 2017

First half of
FYE Jan. 2018

Business performance for the first half of the year

*Including the English language version from the first half of FYE January 2016; including the Korean language version from the first half of FYE January 201716

BUYMA(Japanese language version)

17

First half of FYE January 2018 Review

Pace of operations has increased
since mass media campaigns
Transitions in overall trading volume by half year
20,000Mass media campaigns
Middle of June – middle of July 2015
Middle of November – middle of December 2016

16,00012,000July 2012

Listing of company on
TSE Mothers
8,000
CAGR (based on the first half of the year): 6.3%
(Second half of FYE January 2013 to
the first half of FYE January 2016)

4,000

0
First
half ofyear

Secondhalf ofyear

FYE Jan. 2013

(Unit： million yen)First
half ofyear

Secondhalf ofyear

FYE Jan. 2014

First
half ofyear

Secondhalf ofyear

FYE Jan. 2015

Transitions in actual figures for overall trading volumeFirst
half ofyear

Secondhalf ofyear

FYE Jan. 2016

First
half ofyear

Secondhalf ofyear

FYE Jan. 2017First
half ofyear

Secondhalf ofyear

First half of FYEJan. 2018

Pace of operations from the second half of FYE January 2013 to the first half of
FYE January 201618

First half of FYE January 2018 Review

A factor behind the cooling down in overall trading volume to 112%
YoY is a drop in the ratio of active users.
The acquisition of new members with a high rate ofactive use and improving the ratio of active users among
existing members are future challenges.
First half of FYE January 2018 *Number ofmembers at theend of the first halfof the year

Ratio of active
users during thefirst half of the year

Purchase amountper person during
the first half ofthe year

Comparison withthe corresponding period ofa year earlier

Comparison with thecorresponding period of a year
earlierComparison withthe corresponding period ofa year earlier

128%

88%

100%

* Comparisons with the corresponding period of a year earlier: February 2016 – end of July 201619

First half of FYE January 2018 Review – Transitions in the average number of purchases per person

In terms of the average number of purchases per person,
something that we are focusing on during this period,
the internal implementation of applications etc.
has been a success and growth continues to be satisfactory.
First half of FYE January 2018 *Purchase amountper person during
the first half ofthe year

Average numberof purchases perperson during thefirst half of the year

Average unit priceper person during
the first half ofthe year

Comparison withthe corresponding period ofa year earlier

Comparison withthe corresponding period ofa year earlier

Comparison withthe corresponding period ofa year earlier

102%

98%

100%

* Average unit price is uncontrollable due to trends,

fluctuations in the exchange rate and other factors.

* Comparisons with the corresponding period of a year earlier: February 2016 – end of July 201620

First half of FYE January 2018 Review – Breakdown of the average number of purchases per person

Since mass media campaigns were initiated during the second
half of FYE January 2016, the average number of purchases
per person in each half a year has soared.
Transitions in the average number of purchases per person in each half a year
compared with the corresponding period of a year earlier

104%102.3%

102%

100%

98%

96%

First half of the year
mass media campaign
Middle of June – middle of July 2015

Second half of the year mass media campaign
Middle of November – middle of December 2016

94%

92%
Second half of year

FYE Jan. 2015

First half of year

Second half of year

FYE Jan. 2016

First half of year

Second half of year

FYE Jan. 2017

First half of year

First half of
FYE Jan. 201821

First half of FYE January 2018 Review – Breakdown of the average number of purchases per person

Following on from SEO, the number of new members andoverall trading volume acquired via our owned media,
which we have developed as a unique new inflow channel,
have been rising steadily.
Transitions in the number of new members via owned media

Transitions in overall trading volume via owned media

177% YoY

146% YoY

First
half ofyear

Secondhalf ofyear

FYE Jan. 2015

First
half ofyear

Secondhalf ofyear

FYE Jan. 2016

First
half ofyear

Secondhalf ofyear

FYE Jan. 2017First
half ofyear

First half of
FYE Jan. 2018First
half ofyear

Secondhalf ofyear

FYE Jan. 2015

First
half ofyear

Secondhalf ofyear

FYE Jan. 2016

Number of new members via STYLE HAUS

Overall trading volume via STYLE HAUS

Number of new members via POST

Overall trading volume via POSTFirst
half ofyear

Secondhalf ofyear

FYE Jan. 2017First
half ofyear

First half of
FYE Jan. 201822

First half of FYE January 2018 Review – Application

Overall trading volume is also rising steadily proportional to theincrease in number of downloads of our application, which has ahigh conversion rate (number of orders ÷ number of visits).
Transitions in the total number of application downloads

Transitions in overall trading volume via the application

182% YoY

First
half ofyear

Secondhalf ofyear

FYE Jan. 2015

First
half ofyear

Secondhalf ofyear

FYE Jan. 2016

Number of application downloads

179% YoY

First
half ofyear

Secondhalf ofyear

FYE Jan. 2017First
half ofyear

First half of
FYE Jan. 2018First
half ofyear

Secondhalf ofyear

FYE Jan. 2015

First
half ofyear

Secondhalf ofyear

FYE Jan. 2016

First
half ofyear

Secondhalf ofyear

FYE Jan. 2017First
half ofyear

First half of
FYE Jan. 2018

Overall trading volume via the application

23

First half of FYE January 2018 Review – Composition ratio of overall trading volume by device

Application share increased to 36%
100%

80%

60%

40%

20%

0%
First half of year

Second half of year

FYE Jan. 2015

PC

First half of year

Second half of year

First half of year

FYE Jan. 2016

SP (smartphone)/ FP (feature phone) * Excluding application

Second half of year

FYE Jan. 2017

First half of year

First half of
FYE Jan. 2018

App (application)

24

First half of FYE January 2018 Review – Reinforcement of general infrastructures and infrastructures for settlement of payment

In order to provide customers with even more security, convenience and value for money,

we have starting providing 4 new payment services.
March 2017 release

March 2017 release

May 2017 release

July 2017 release25

First half of FYE January 2018 Review – Premium member policies

Having expanded our “premium member” policies, a service aimed at loyal
customers, overall trading volume increased 127% YoYWhat are “premium members?”
Platinum stage
プラチナステージ

Those who have made過去6ヶ月間の購入金額がpurchases totaling
30万円以上の方
more than 300,000 JPY
during the past 6 months

Examples of policies that have been initiatedGold stage
ゴールドステージ

Bronze stage
ブロンズステージ

during the past 6 months

during the past 6 months

Those who have made過去6ヶ月間の購入金額がpurchases totaling
15万円〜30万円の方
150,000 – 300,000 JPY

Those who have made過去6ヶ月間の購入金額がpurchases totaling
7万円〜15万円の方
70,000 – 150,000 JPY

Transitions in “premium member”
overall trading volume

Limited coupons

127%YoY
Commencement of purchasing service for customers’
unwanted items in collaboration with ALL-IN

First half of
FYE Jan. 2017

First half of
FYE Jan. 201826

First half of FYE January 2018 Review – Resale
Major increase in applications due to increased exposure within
the site Increase in the number of transactions using BUYMA points awarded
at the time of application Promotion of a flowin which customers sell using ALL-IN and buy using BUYMATransitions in the number of applications
3,000

2,250

1,500

750

0
4Q

1Q

FYE Jan. 2016
(Unit： million yen)

2Q

3Q

FYE Jan. 2017
Number of applications

4Q

1Q

2Q

FYE Jan. 2018

Number of transactions using points

27

GLOBAL BUYMA(English language version /Korean language version)

28

GLOBAL BUYMA – Business performance for the first half of FYE January 2018

The number of registered members continues to increase steadily,
and the ratio of items being sent toHong Kong and America is also gradually increasing.
Image of GLOBAL BUYMA

Number of countries
delivered to:

59 countries
Ratio of delivery
destinations by country:
South Korea: 39.9%

Number of items listed:

Over 2.4 million items
Average price of items:

26,252 yen
Average age:33.2 years

Hong Kong: 39.1%
United States: 9.8%
Australia: 1.8%
United Kingdom: 1.3%

Transitions in registered member numbers

Sex:

First
half ofyear

Secondhalf ofyear

FYE Jan. 2015

First
half ofyear

Secondhalf ofyear

FYE Jan. 2016

First
half ofyear

Secondhalf ofyear

FYE Jan. 2017First
half ofyear
First half of
FYE Jan. 2018

Women, 62.3% Men, 37.7%* Based on the first half of the year, as of the end of July 2017

(Unit：People)

English language versions

Korean language versions

Taiwan: 1.0%
Canada: 1.0%
Singapore: 1.0%
Other: 5.1%

29

GLOBAL BUYMA – Business performance for the first half of FYE January 2018

All indexes increased at a pace exceeding
the corresponding period of a year earlier.
First half of FYE January 2018 *Number ofmembers at theend of the first halfof the year

Ratio of active
users during thefirst half of the year

Purchase amountper person during
the first half ofthe year

Comparison withthe corresponding period ofa year earlier

Comparison with thecorresponding period of a year
earlierComparison withthe corresponding period ofa year earlier

266%

115%

167%

* Comparisons with the corresponding period of a year earlier: February 2016 – end of July 2016

30

GLOBAL BUYMA – Business performance for the first half of FYE January 2018

With increased MD and exposure tailored tothe market demand in Hong Kong,the conversion rate (number of orders ÷ number of visits)in Hong Kong expanded dramatically.
Transitions in the conversion rate for the English language version

Example:Increased product listing and exposure of dresses withthe aim of acquiring a demand for dresses,
such as dresses for proms and bridesmaids for June brides

Second half of year

First half of year

FYE Jan. 2016

English language version Hong Kong only

Second half of year

FYE Jan. 2017

First half of year

FYE Jan. 2018

English language version overall

31

GLOBAL BUYMA – BUYMA KOREA Clothes

Based on the response in Hong Kong, the resources (human resources,
members and know-how) from the Korean language version have been
consolidated into the English language version of BUYMA.
This move will allow us to target wealthy Asian customers in global markets.

BUYMA KOREA

English language version BUYMA

Koreanlanguage version

Resources

32

GLOBAL BUYMA – Mid-term strategy

Aim to achieve a positive balance on a monthly basis
during the next term
Transitions in the overall trading volume of GLOBAL BUYMA

3Q

4Q

FYE Jan. 2016

1Q

2Q

3Q

FYE Jan. 2017

4Q

1Q

2Q

3Q

FYE Jan. 2018

4Q

1Q

2Q

3Q

4Q

FYE Jan. 201933

Measures and Policies
for the Second Half of the Year34

Measures and policies for the second half of FYE January 2018

Improve each KPI index in 2 and a half years
S TA RT : February 2015

Implement TVCM
Improve level of recognition
February 2015

February 2016

25%

40%

Increase the number of members

134% YoY

First and second half of
FYE January 2016

GOAL : End of July 2017

Capture more users
through increased online
advertising

Take measures toincrease the number oftransactions handled

Improve the ratio of active users

Increase the average numberof purchases per person

111% YoY

First half of
FYE January 2017101% YoY

Second half of
FYE January 2017102% YoY

First half of
FYE January 201835

Measures and policies for the second half of FYE January 2018

Bring together in a compact manner all of the effective elementsfrom measures that have increased each index and
implement them continually over a short span of time

Implement TVCM

Implement TVCM

Implement TV

Improve level ofrecognition

Improve level ofrecognition

Improve level ofrecognition

Increase the numberof members

Increase the numberof members

Implement measures
to increase numberof transactions handled
Increase the average
number of purchases
per person

Capture more users
through increased online
advertising
Improve the ratioof active user

Implement measures
to increase numberof transactions handled
Increase the average
number of purchases
per person

Implement from the second
Increase the numbeof members
half of FYE January 2018

Implement
measures
Capturemore users
Implement
at a scale of 20-30%
largerto increase number
through increased online
thantheprevious
mass
media
campaignoftransactions
handledadvertisingC
throover a span of quarter to Increase
half a theyearaverage

Improve the ratioof active userI

number of purchases
per person

36Measures and policies for the second half of FYE January 2018

In addition to administrative measures which contribute to increasing
trading volume, continue to reinforce general infrastructures andinfrastructures for settlement of payment to prepare for future growth
Measures to improve levelof recognition and increase
the number of members

Measures to improve theratio of active users

Measures to maintain
ARPU(Measures to increase
the number of transactions
handled)Examples of measure

Examples of measure

Examples of measure‣ Improvement of application‣ Improvement of functions‣ Implementation of TV andonline advertising‣ Reinforcement of SEO‣ Release of applications forowned media

functions‣ Improvement ofrecommendation function‣ Improved listings ofmen’s items‣ Addition of a category for
returnable items

aimed at personal shoppers‣ Improvement of functions
aimed at buyers‣ Measures for points‣ Measures for coupons‣ Measures for bulk purchases‣ Delivery functions

General infrastructures and infrastructures for settlement of payment‣ Additional releases of new payment services‣ Putting in place of infrastructures to allow the administration of stable services even in the event that the
number of members increases further in the future37

Predicted business performance for FYE January 2018 (consolidated)
We have declared impairments of around 430 million JPY to goodwill in our shares as a result of strategic revision toinitial profit forecasts.Considering our performance during the first half of the year, BUYMA will revise its overall trading
volume and revenue and will maintain its initially predicted cost standards to carry out investments in advertisingcentering of TVCM as an ongoing measure to reinforce new acquisitions.

FYE January 2018
Consolidated total actual performance predicted

FYE January 2017
Consolidated total
actual performance
Initial forecast

Overalltrading
volume* Social commercebusiness

Revised forecast

Amount ofincrease or
decrease

Rate ofincrease or
decrease

Rate ofgrowth fromrevisedforecast

△10％

10%

△11％

7%

△28％

△19%

△27％

△19%

△60％

△53%

△60％

△53%

△42.3
33.27 billion yen

40.96 billion yen

36.73 billion yen

Revenue

4.14 billion yen

4.97 billion yen

4.41 billion yen

Operating profit

1.76 billion yen

1.96 billion yen

1.42 billion yen

Ordinary profit

1.76 billion yen

1.96 billion yen

1.42 billion yen

billion yen△5.5
billion yen△5.4
billion yen△5.3
billion yen△8.0

Current net earnings

Current net earnings per share(JPY)

1.14 billion yen

1.34 billion yen

0.53 billion yen

54.92 yen

64.49 yen25.90 yenbillion yen△38.59 yen* Overall trading volume: Amount of account settlements including such things as payment for goods and fees for settlement of payment in contracted transactions

38

Predicted business performance for FYE January 2018 (consolidated) – Rate of progress as of the first half of the year

Social commerce, our main line of business,
tends to be overly concentrated in the second half of the year
due to the seasonal aspects of products.
Rate of progress for the first half of FYE January 2018
Average rate of progress * 1
Initial forecast

Revised forecast

Overall trading volume * 2

41%

45%

45%

Revenue

41%

47%

45%

Operating profit

35%

48%

42%

* 1 Average values for the 3 years from FYE January 2013 to FYE January 2015, excluding periods of mass media campaigns* 2 Overall trading volume: Amount of account settlements including such things as payment for goods and fees for settlement of payment in contracted transactions

39

Medium-term strategy

40Medium-Term Strategy – BUYMA ecosystem

BUYMA Ecosystem
Establish a BUYMA ecosystem
To encounter and purchase an item on BUYMAThen re-sell items one no longer needs…
Providing a one-stop service from encounter todisposal

RelatedBusiness

Make profits globally by distributing
wonderful items from all over theworld,To people from all over the world
Globalize BUYMA, the curation, andresale business
By using the earnings we will stably growas our fund source
We will further explore areas thatgenerate new revenue

Encountering
new items

Selling items
No longer used

Curation

Resale※Japanese・
Chinese※Japanese41Medium-Term Strategy – Medium-Term Targets

By constantly increasing revenue and profit,
we are aiming for an operating income of 5 billion yen
BUYMA
GLOBALMedia Business/Related-BusinessResaleMedia

Resale Business

BUYMA GLOBAL ( English-Version)

BUYMA ( Japanese Version )38
42

VisionNo.1 in Social Commerce
E-Commerce is a rare market with “extraordinary" growth prospects
Among the various transaction styles,
the C to C transaction of BUYMA is an area which is attracting much attention as thecommerce for the next generation
Enigmo will, in this rapidly expanding e-commerce market,
Provide value through unique services thatleverage the power of the individual through C to C transactions,and establish its position as No. 1 in “Social Commerce”
And by doing so, will provide a new lifestyle to as many individuals all around the world43Mission Statement

Creating Change

44This presentation material is provided solely for the purpose of better understandingof our company and its business and is not intended for solicitation purposes.
Forward-looking projections contained are made based on assumptions and plans
available as of today. Actual business performance may diﬀer from projections due torisks and uncertainties in the future.