Ceres Inc. · TSE:3696
Ceres — Q1 2026 Earnings Presentation
43 slides from Ceres's earnings presentation, Apr 30, 2026
Slide 1: Q1 FY2026 Results
Q1 FY2026 Results April 30, 2026 CERES INC. (TSE Prime Market: 3696) Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
Slide 2: Agenda
01. Consolidated Results 02. Results Summary by Segment Mobile Service Business Financial Service Business APPENDIX 2
Slide 3: 01. Consolidated Results Summary
01. Consolidated Results Summary 3
Slide 4: Executive Summary
Executive Summary • Point sales increased significantly to approx. ¥8.0 bn (+62.1% YoY) Driven by strong demand for financial advertising on Moppy and growth in active members Net sales ¥9.52 billion Point Income PMI remained solid, with sales up 19.6% YoY YoY ＋23.9％ • Financial services sales expan
Slide 5: Condensed Income Statement
Condensed Income Statement Q1 FY2026 Q1 FY2025 YoY Q4 FY2025 QoQ (Millions of yen) Net sales 9,521 7,686 +23.9% 7,391 +28.8% Gross profit 4,429 3,295 +34.4% 3,153 +40.5% © 2026 CERES Inc. All Rights Reserved.｜Ticker Code 3696 SG&A expenses 2,698 2,434 +10.8% 2,763 -2.3% Operating profit 1,731 860 +1
Slide 6: Segment Information
Segment Information ◼ Mobile Services delivered sales and profit growth YoY, driven by strong performance in the Point business, offsetting weak D2C performance and the deconsolidation of YUMEMI. ◼ Financial services improved both sales and profit YoY, supported by a 2.4x increase in labol GMV and a
Slide 7: Segment Information
Segment Information Net sales Operating profit Q1 Q1 Q1 Q1 YoY YoY (Millions of yen) FY2026 FY2025 FY2026 FY2025 Consolidated 9,521 7,686 +23.9% 1,731 860 +101.2% © 2026 CERES Inc. All Rights Reserved.｜Ticker Code 3696 Mobile Service Business 8,882 7,523 +18.1% 2,320 1,539 +50.7% Point 7,999 4,934 +
Slide 8: Factors Affecting Operating Profit and Ordinary Profit
Factors Affecting Operating Profit and Ordinary Profit (Millions of yen) Operating Profit Q1 FY2025 860 • Strong performance at Moppy 1,302 Point • Improved profitability at Point D2C Income ▲217 DX ▲290 © 2026 CERES Inc. All Rights Reserved.｜Ticker Code 3696 • Pitsole sales decline Mercury 33 [Merc
Slide 9: Progress Toward Full-Year Forecasts
Progress Toward Full-Year Forecasts ◼ Net sales are progressing steadily against the full-year forecast, led by the Point business, despite the impact of weak D2C performance ◼ Operating profit is significantly ahead of plan, exceeding initial assumptions that conservatively factored in Point profit
Slide 10: Condensed Balance Sheet
Condensed Balance Sheet End-Q1 FY2026 FY2025 Change Major factors （Millions of yen） 28,012 25,777 Cash and deposits: +874 Current assets (70.4%) (68.7%) +2,235 Accounts receivable-trade: +1,869 11,760 11,726 Goodwill: -70 Non-current assets +34 © 2026 CERES Inc. All Rights Reserved.｜Ticker Code 3696
Slide 11: Mid-Term Management Plan 2030 (Five-Year Plan)
Mid-Term Management Plan 2030 (Five-Year Plan) ◼ Net sales growth will be driven by the Point business, which is expected to outpace market growth, together with earnings expansion in D2C and Financial Services. ◼ EBITDA growth will be supported by steady profit accumulation in the Point and D2C bus
Slide 12: Sustainability Progress and Targets
Sustainability Progress and Targets ◼ Sustainability initiatives are progressing steadily, alongside improvements in external evaluations ◼ Advancing to the next stage toward 2030 through strengthened internal frameworks and enhanced disclosure Progress as of March 2026 2030 Targets CDP Climate Chan
Slide 13: 02. Results Summary by Segment
02. Results Summary by Segment Mobile Service Business Financial Service Business 13
Slide 14: Business Structure of the Mobile Service Segment
Business Structure of the Mobile Service Segment ◼ Building a vertically integrated model that seamlessly connects Media, D2C, and Agency (Advertising) capabilities within the Group, leveraging highly competitive media assets. Advertisers Agency Media User Point © 2026 CERES Inc. All Rights Reserved
Slide 15: Mobile Service Business Performance
Mobile Service Business Performance ◼ Sales growth driven by strong advertising demand, led by the Point business; sales excluding DX increased 47.0% YoY ◼ Profitability improved due to an increase in high-value financial advertising; operating profit excluding DX rose 85.7% YoY (Millions of yen) Ne
Slide 16: Point Site Business Model
Point Site Business Model ◼ Performance-based advertising model under which revenue is earned from advertisers after user actions are approved. ◼ A portion of the advertising revenue is returned to members as points, enhancing user engagement through flexible redemption options. Advertisers Point si
Slide 17: Point Performance
Point Performance ◼ Point site sales increased significantly, up 68.1% YoY, driven by strong year-end advertising demand and continued expansion in financial-related advertising. ◼ The real estate media business achieved record-high sales, supported by collaboration with Moppy, while studio15 also d
Slide 18: Moppy Performance
Moppy Performance ◼ Captured strong demand from financial advertisers by leveraging one of Japan’s largest member bases amid expanding advertising budgets. ◼ Active members increased significantly, driven by an increase in high-point reward offers, which attracted new members. Moppy Moppy (Millions
Slide 19: Point Sites – Key Topics
Point Sites – Key Topics ◼ Proactively capturing continued growth in advertising demand from financial advertisers, supported by national policy tailwinds and enhanced sales efforts. ◼ Point Income achieved 1.2x YoY sales growth within seven months of the M&A by applying Moppy’s operational expertis
Slide 20: studio15 – Key Topics
studio15 – Key Topics ◼ TikTok Shop has maintained strong GMV momentum since its launch in July last year, with group collaboration centered on studio15 progressing well. ◼ Started providing support for TikTok GO as one of only a few certified agencies in Japan. TikTok Shop Performance Full-Scale En
Slide 21: D2C Business Model
D2C Business Model ◼ D2C is a model in which consumer insights are directly reflected in product development, and products are delivered directly to customers. ◼ In one-time sales, profit is generated from a single transaction. In subscription-based sales, costs are incurred upfront, with profitabil
Slide 22: D2C Performance
D2C Performance ◼ Pitsole underperformed due to lower-than-expected sales volumes and delays in new product launches, resulting in declines in both revenue and profit ◼ Online medical service “Anypill,” centered on low-dose oral contraceptives, performed strongly, achieving revenue growth and return
Slide 23: Acquisition of Shares in SQUIZ
Acquisition of Shares in SQUIZ Minority investment Made SQUIZ a Consolidated Subsidiary Third-party allotment of treasury shares July 2022 April 1, 2026 April 17, 2026 Acquired 6.1% stake Acquired 90.0% of SQUIZ shares Treasury shares (approx. ¥300 million) To contribute to consolidated allotted to
Slide 24: Overview of SQUIZ
Overview of SQUIZ ◼ Operates “Oops,” an online healthcare platform focused on AGA treatment and oral contraceptives. ◼ Has built a strong customer base, particularly among younger demographics, supported by globally recognized creative capabilities. Overview of SQUIZ (Consolidated Subsidiary) GMV an
Slide 25: Growth Potential of Online Healthcare
Growth Potential of Online Healthcare ◼ Online healthcare penetration in Japan remains significantly lower than in other major markets, indicating substantial room for expansion. ◼ Market growth is expected as latent demand becomes more visible, particularly for treatments with high barriers to in-p
Slide 26: Business Selection and Concentration
Business Selection and Concentration ◼ Strategically allocate management resources to our core businesses: the point economy and blockchain. ◼ Advance business selection and concentration to build a stronger and more resilient portfolio. Segment Selection and Concentration CERES INC. Pursue roll-up
Slide 27: Growth Strategy through D2C Brand Acquisition
Growth Strategy through D2C Brand Acquisition ◼ Strengthen the online healthcare platform with high LTV to expand market share ◼ Integrate into our vertically integrated model to enhance marketing efficiency and profitability Vertically integrated model © 2026 CERES Inc. All Rights Reserved.｜Ticker
Slide 28: 02. Results Summary by Segment
02. Results Summary by Segment Mobile Service Business Financial Service Business 28
Slide 29: Financial Service Performance
Financial Service Performance ◼ Sales expanded approximately 4x YoY, driven by labol’s 2.3x sales growth. ◼ Operating loss improved by approximately ¥150 mn YoY to ¥200 mn, and ordinary loss narrowed by ¥470 mn YoY to ¥360 mn. Sales Operating profit (loss), (Millions of yen) (Millions of yen) Ordina
Slide 30: Mercury and bitbank Performance
Mercury and bitbank Performance ◼ Mercury is focusing on staking; the number of supported crypto assets increased to 14, up four from the end of the previous fiscal year (as of the end of April 2026). ◼ bitbank was impacted by weak crypto asset market conditions, which led to weaker investor sentime
Slide 31: APPENDIX
APPENDIX @CERES 31
Slide 32: Mission, Vision, and Values
Mission, Vision, and Values ◼ As we mark our 20th anniversary, we have redefined our Mission, Vision, and Values as the foundation for our next stage of growth. ◼ In an era of rapid change, we will continue to evolve and pursue new opportunities to achieve sustainable growth and long-term value crea
Slide 33: Profile
Profile Company Name CERES INC. Established January 28, 2005 Location Shibuya Sakura Stage Shibuya Tower, 21st Floor 1-1 Sakuragaokacho, Shibuya-ku, Tokyo © 2026 CERES Inc. All Rights Reserved.｜Ticker Code 3696 Fiscal Year December 31 Capital ¥ 2,158 million (As of March 31, 2026) Representative Sat
Slide 34: History
History DX • Transferred all shares held by the Company in YUMEMI Inc. Sales • Made DINETTE Inc. and Isis Inc. consolidated subsidiaries Financial 2025 • Made CyberBuzz, Inc. (TSE Growth Market) an equity-method affiliate 35.7bn • Mercury registered as a Crypto Asset Exchange Service Provider D2C •
Slide 35: Business Overview
Business Overview ◼ Ceres builds a sustainable business portfolio by combining businesses with different growth profiles. ◼ The Company promotes business selection and concentration while strengthening its high-margin, vertically integrated model. Segment Operating company Service Mobile Service Bus
Slide 36: Quarterly Sales
Quarterly Sales (Millions of yen) +23.9% 12,000 (YoY) 200% 9,521 © 2026 CERES Inc. All Rights Reserved.｜Ticker Code 3696 9,000 647 150% 8,168 7,488 7,686 430 7,391 7,066 162 6,777 6,718 467 547 6,433 449 6,414 6,072 205 447 5,695 168 550 6,000 99 100% 89 8,882 7,523 7,740 6,574 6,619 7,022 6,853 3,0
Slide 37: Quarterly EBITDA
Quarterly EBITDA (Millions of yen) 3,500 3,079 40% 37.7% +265.3% 2,800 © 2026 CERES Inc. All Rights Reserved.｜Ticker Code 3696 (YoY) 30% 2,100 21.1% 18.7% 1,762 17.6% 20% 1,350 18.5% 1,400 1,255 1,314 8.4% 8.4% 6.5% 10% 5.5% 5.7% 6.3% 700 566 591 345 482 479 312 -0.2% 0% 0 -15 -700 -10% Q2 Q3 Q4 Q1
Slide 38: Quarterly Operating Profit
Quarterly Operating Profit (Millions of yen) +101.2% 2,100 (YoY) 40% 1,731 1,750 © 2026 CERES Inc. All Rights Reserved.｜Ticker Code 3696 30% 1,400 1,050 20% 860 798 713 18.2% 700 618 601 481 11.2% 10% 382 10.6% 390 10.7% 350 270 98 8.8% 212 7.4% 7.5% 5.6% 1.5% 4.4% 5.3% 3.7% 0 0% Q2 Q3 Q4 Q1 Q2 Q3 Q
Slide 39: Quarterly Ordinary Profit
Quarterly Ordinary Profit (Millions of yen) +342.8% 2,000 (YoY) 30% 1,561 © 2026 CERES Inc. All Rights Reserved.｜Ticker Code 3696 1,500 20% 1,140 1,153 1,000 17.0% 754 16.4% 15.4% 715 483 11.8% 10% 454 500 352 8.8% 3.2% 3.3% 7.1% 281 6.4% 179 203 4.6% -71 3.8% 0% 0 -1.1% -500 -10% Q2 Q3 Q4 Q1 Q2 Q3
Slide 40: Quarterly SG&A Expenses
Quarterly SG&A Expenses (Millions of yen) +10.8% (YoY) 2,954 3,000 2,848 2,868 2,785 2,811 2,763 2,698 2,572 2,579 2,529 470 519 564 2,434 719 645 © 2026 CERES Inc. All Rights Reserved.｜Ticker Code 3696 406 499 780 770 2,185 51 51 51 73 92 92 51 668 51 43 51 578 95 51 94 2,000 368 135 63 114 70 51 5
Slide 41: Number of Employees
Number of Employees (People) 750 670 670 669 678 614 615 615 80 83 600 84 83 © 2026 CERES Inc. All Rights Reserved.｜Ticker Code 3696 600 71 77 78 81 -46.9% 153 153 151 159 (YoY) 117 126 125 131 450 353 351 360 320 80 81 83 300 76 412 411 412 437 433 435 436 403 171 178 169 150 161 83 102 101 99 0 Q2
Slide 42: Quarterly Earnings
Quarterly Earnings Quarterly Sales FY2024 2024年 FY2025 2025年 FY2026 (Millions of yen) （単位：百万円）Q2 1Q Q32Q Q4 3Q Q1 4Q 1QQ2 2Q Q3 3Q Q4 4Q Q1 Net sales 売上高 6,433 6,718 7,066 6,433 7,488 7,066 7,686 7,488 8,168 8,168 7,686 6,414 6,4147,3917,391 9,521 Mobile モバイルサービス事業 Service Business 6,267 6,275 6,619
Slide 43: Contact Information
Contact Information CERES INC. Address : 21st Floor, Shibuya Sakura Stage SHIBUYA Tower, 1-1 Sakuragaokacho, Shibuya-ku, Tokyo 150-6221, Japan Telephone number: +81 03-6455-3756 URL: https://ceres-inc.jp/ir/inquiry/ Email: ir-info@ceres-inc.jp Notes Regarding Forward-Looking Statements • The earning