Slide 1: Presentation Materials for FY2024
Presentation Materials for FY2024 Sansan, Inc., July 14, 2025
Slide 2: Disclaimer
Disclaimer In preparing these materials, Sansan, Inc., (the “Company,” “we,” “us,” or “our”) relies upon and assumes the accuracy and completeness of all information available to us. However, the Company makes no representations or warranties of any kind, express or implicit, about the completeness
Slide 3: Contents
Contents 1 Financial Results for FY2024 2 Medium-Term Financial Policy (FY2024-FY2026) 3 Growth Strategy Appendix Sansan Group Overview, Sansan/Bill One Business, Eight Business, Initiatives for Sustainability © Sansan, Inc. 2
Slide 4: Financial Results for FY2024
Contents 1 Financial Results for FY2024 2 Medium-Term Financial Policy (FY2024-FY2026) 3 Growth Strategy Appendix Sansan Group Overview, Sansan/Bill One Business, Eight Business, Initiatives for Sustainability © Sansan, Inc. 3
Slide 5: Highlights of FY2024 Results
1 Financial Results for FY2024 Highlights of FY2024 Results Sales grew steadily Net sales up 27.5% YoY. ARR (1) up 25.0% YoY to ¥41,591 million. Adjusted operating profit (2) increased substantially, with improved profit margin Adjusted operating profit up 108.0% YoY. Adjusted operating profit margi
Slide 6: Financial Results
1 Financial Results for FY2024 Overview of Financial Results Net sales were up 27.5% YoY, indicating solid growth. Adjusted operating profit increased substantially, by 108.0% YoY, owing to improvement in gross profit margin and a decreased SG&A ratio. FY2023 FY2024 (For Reference) FY2024 (millions
Slide 7: Contributors to Changes in Adjusted Operating Profit
1 Financial Results for FY2024 Contributors to Changes in Adjusted Operating Profit Personnel and advertising expenses increased ¥3,348 million and ¥1,173 million YoY, respectively. Rents and relocation expenses were up ¥1,223 million YoY due to office relocation. Nevertheless, adjusted operating pr
Slide 8: Results by Segment
1 Financial Results for FY2024 Results by Segment The Sansan/Bill One business achieved solid growth in net sales and substantial growth in adjusted operating profit. The Eight business substantially increased net sales and achieved adjusted operating profitability. FY2023 FY2024 (For Reference) FY2
Slide 9: Sansan/Bill One Business Overview
1 Financial Results for FY2024 Sansan/Bill One Business Overview Sansan showed solid growth, and Bill One continued a high-growth trend, resulting in the segment sales rising 26.2% YoY. Adjusted operating profit was up 59.1% YoY, despite growth investments primarily for Bill One. FY2023 FY2024 (For
Slide 10: Sansan: Status of Key Indicators
1 Financial Results for FY2024 Sansan: Status of Key Indicators Steady growth in subscriptions and monthly recurring sales per subscription owing to the strengthened sales structure. Churn rate was up 0.07 pts. YoY to 0.49%, maintaining a rate below 1%. Number of Sansan Subscriptions and Last 12 Mon
Slide 11: Sansan: Net Revenue Retention
1 Financial Results for FY2024 Sansan: Net Revenue Retention We achieved a stable negative churn rate (1) thanks to the solid upselling for the existing customers. Sansan Sales Stack-up: Accumulation of Net Sales by Service-in Timing (2) (Recurring Sales) FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY
Slide 12: Bill One: Status of Key Indicators
1 Financial Results for FY2024 Bill One: Status of Key Indicators ARR exceeded ¥10.9 billion as of May 31, 2025, up 42.7% YoY. Strong growth in paid subscriptions and stable monthly recurring sales per paid subscription owing to the development of sales force. Number of Bill One Paid Subscriptions a
Slide 13: Bill One: Net Revenue Retention
1 Financial Results for FY2024 Bill One: Net Revenue Retention We achieved a stable negative churn rate thanks to the solid upselling for the existing customers. Bill One Sales Stack-up: Accumulation of Net Sales by Service-in Timing (1) (Recurring Sales) FY2020 FY2021 FY2022 FY2023 FY2024 Q4 Q4 Q4
Slide 14: Eight Business Overview
1 Financial Results for FY2024 Eight Business Overview Net sales were up 42.4% YoY on contributions from strong B2B and steady B2C services. In line with increased net sales, the business achieved adjusted operating profitability, up ¥526 million YoY. FY2023 FY2024 (For Reference) FY2024 (millions o
Slide 15: Medium-Term Financial Policy (FY2024-FY2026)
Contents 1 Financial Results for FY2024 2 Medium-Term Financial Policy (FY2024-FY2026) 3 Growth Strategy Appendix Sansan Group Overview, Sansan/Bill One Business, Eight Business, Initiatives for Sustainability © Sansan, Inc. 14
Slide 16: Medium-Term Financial Policy
2 Medium-Term Financial Policy Medium-Term Financial Policy Aim for a three-year compound annual growth rate (CAGR) of net sales to be 22% to 27% through FY2026. Adjusted operating profit margin for FY2026 is expected to be 18% to 23%. Medium-Term Financial Policy (millions of yen) Net sales Adjuste
Slide 17: Earnings Forecasts
2 Medium-Term Financial Policy Earnings Forecasts For net sales, aim for YoY increase of between 22.0% to 25.0%. Growth rate will accelerate, with adjusted operating profit margin expected at 13.0% to 16.0%, exceeding 10% for the first time for full year. FY2024 FY2025 (1) (millions of yen) Full-Yea
Slide 18: Outlook of Major Costs
2 Medium-Term Financial Policy Outlook of Major Costs Increase of personnel expenses (1) are expected to remain at approx. 19% YoY due to a slight decrease in the number of new hires planned. Advertising expenses are expected to increase by approx. 28% YoY due to aggressive marketing measures aimed
Slide 19: Net Sales Growth Rate and Adjusted Operating Profit Margin by Product
2 Medium-Term Financial Policy Net Sales Growth Rate and Adjusted Operating Profit Margin by Product Our solutions comprise products with different phases in net sales growth and adjusted operating profit margins. Although Bill One is still operating at a loss, its adjusted operating profit (loss) m
Slide 20: Generation of Free Cash Flow
2 Medium-Term Financial Policy Generation of Free Cash Flow (1) Free cash flow increased owing to growth in net sales and improvement in adjusted operating profit margin. Free Cash Flow 8,000 (millions of yen) FCF 6,949 20.0% FCF margin 7,000 6,000 14.5% 16.1% 15.0% 13.0% 4,917 5,000 12.4% 4,000 10.
Slide 21: Policy for Realizing Management Conscious of Cost of Capital and Stock Price
2 Medium-Term Financial Policy Policy for Realizing Management that is Conscious of Cost of Capital and Stock Price Clarify our initiatives that contribute to the sustainable improvement of corporate value and our approach to building constructive relationships with capital markets ・ Maximize net sa
Slide 22: Growth Strategy
Contents 1 Financial Results for FY2024 2 Medium-Term Financial Policy (FY2024-FY2026) 3 Growth Strategy Appendix Sansan Group Overview, Sansan/Bill One Business, Eight Business, Initiatives for Sustainability © Sansan, Inc. 21
Slide 23: Achieve Medium- to Long-term Growth through the Use of Generative AI
3 Growth Strategy Achieve Medium- to Long-term Growth through the Use of Generative AI Aim for medium- to long-term growth in net sales and improved profitability by actively utilizing generative AI Measures contributing Measures contributing to net sales growth to cost efficiency - Uses advanced da
Slide 24: Manage your contacts, maximize your business
Manage your contacts, maximize your business
Slide 25: Sansan: The Importance of Data Consolidation and Structuring
3 Growth Strategy Sansan: The Importance of Data Consolidation and Structuring Effective use of generative AI requires correctly structuring the vast amount of information scattered throughout a company as data and convert it into usable assets. There is a growing need for Model Context Protocol (MC
Slide 26: Sansan: Provide MCP server
3 Growth Strategy Sansan: Provide MCP server Maximize value delivery in the era of generative AI by providing MCP servers MCP server Company information Individual profile Activity information Reply to Claude… Used in Claude © Sansan, Inc. 25
Slide 27: Sansan: Sansan BI – Use Data to Change the Sales Team's Behavior
3 Growth Strategy Sansan: Sansan BI – Use Data to Change the Sales Team’s Behavior Sansan service offering a feature that enables effective use of data using generative AI. Consolidate data using Sansan’s engine for recognizing the same person External data, incl. SFA, core system Challenges in usin
Slide 28: Sansan: Main Features of Sansan BI
3 Growth Strategy Sansan: Main Features of Sansan BI The AI can handle a wide range of tasks by simply giving basic instructions (prompts). Company Offices People Activities Deals Contracts AI outputs recommended explanations and Company Profile Company Name hypotheses to propose based on various da
Slide 29: Accounting DX that reshapes how your company works
Accounting DX that reshapes how your company works 筐体英語版 支給待ち
Slide 30: Bill One: Utilizing Advanced Data
3 Growth Strategy Bill One: Utilizing Advanced Data We have achieved advanced digitization in the invoicing field by leveraging the natural language processing technology of Institute of Language Understanding Inc. (a group company). We combine the generated data with generative AI to create new sol
Slide 31: Work differently, work better, with the AI-driven contract database
Work differently, work better, with the AI-driven contract database
Slide 32: Contract One: AI-Driven Contract Database
3 Growth Strategy Contract One: AI-Driven Contract Database that Changes How the Entire Company Works An AI-driven contract database that solves various challenges through accurate digitization and centralization of all contracts Accurately digitize all contracts Automatic structuring of data Compan
Slide 33: Contract One: Providing Contract One AI Solution
3 Growth Strategy Contract One: Providing Contract One AI Solution Providing Contract One AI, a feature that uses generative AI to improve productivity company-wide Contract Counterparty Document Home K.Yamada Management Ledger Comparison Ask a New Question Previous Questions Ask About a Contract Re
Slide 34: Contract One: Status of Key Indicators
3 Growth Strategy Contract One: Status of Key Indicators Net sales and subscriptions have grown steadily since the solution’s launch. Sales Number of Subscriptions (millions of yen) (subscriptions) 393 1000 Up Up 800 70％+ YoY 77.0％ YoY 574 222 600 415 400 140 212 63 200 61 0 FY2021 FY2022 FY2023 FY2
Slide 35: Achieve Medium- to Long-term Growth using Generative AI
3 Growth Strategy Achieve Medium- to Long-term Growth using Generative AI Measures contributing Measures contributing to net sales growth to cost efficiency - Uses advanced data - Provides MCP server - Provides Sansan BI Utilize generative - Uses Viola, our proprietary generative AI AI -Provides Con
Slide 36: Operation and Technologies for Digitizing Analog Information
3 Growth Strategy Operation and Technologies for Digitizing Analog Information Establishment of analog information digitization operation structure unsurpassed by competitors. AI: Large volumes of Data entry Humans: Humans: Database analog information Manual entry Final check Automatic and manual da
Slide 37: Technologies Supporting Automatic Digitization
3 Growth Strategy Technologies Supporting Automatic Digitization We have improved the automatic digitization rate by using a range of technologies, including our proprietary OCR engine specialized for business cards. NineOCR Smart capture Language detection Enables delivery of results to users Deter
Slide 38: Using Viola, Our Proprietary Generative AI, in Digitization
3 Growth Strategy Using Viola, Our Proprietary Generative AI, in Digitization Our proprietary generative AI Viola greatly improves the automatic digitization rate and reduces costs. Invoice Contract Generative AI Company Name Sansan, Inc. Viola To: ●● Inc. ●● Inc. Name Taro Sansan Phone Number Mobil
Slide 39: Appendix
Appendix © Sansan, Inc.
Slide 40: Sansan Group Overview
Sansan Group Overview © Sansan, Inc.
Slide 41: Mission and Vision
Sansan Group Overview Mission and Vision Mission Turning encounters into innovation Vision Become business infrastructure © Sansan, Inc. 40
Slide 42: History
Sansan Group Overview History (1) FY2024 Net sales FY2019− ¥43,202 mn Expanding business fields FY2019 FY2012−FY2018 Listed on Mothers Section of Tokyo Stock Exchange Began offering Bill One Strengthening FY2020 FY2007−FY2011 investments through Changed listing market to First Section of Tokyo Stock
Slide 43: Digitally Transform How You Work
Sansan Group Overview Digitally Transform How You Work Offering a business database that reshapes how people work and connects encounters with people and companies to business opportunities. Career management Encounters with people and companies © Sansan, Inc. 42
Slide 44: SaaS Focused on Analog-to-Digital
Sansan Group Overview SaaS Focused on Analog-to-Digital Paper and other analog workflows remain, leaving room for digitization to greatly improve efficiency. Digitizing analog information quickly and accurately to improve business productivity and provide convenience through data usage. Contact info
Slide 45: Launch of Main Solutions
Sansan Group Overview Launch of Main Solutions Founded in FY2007 and started offering Sansan. Created multiple solutions since then; Bill One, launched in 2020, has achieved rapid growth. FY2007 FY2011 FY2019 FY2021 FY2024 (1) (1) The graph shows total net sales of each solution. Sales ratio of main
Slide 46: Overview of Reportable Segments
Sansan Group Overview Overview of Reportable Segments The Sansan Group comprises two reportable segments (1) . Percentage of consolidated net sales (2) Main services Sansan 62% The sales DX solution Sansan/ Bill One Bill One 23% The accounting DX solution Business Others 3% The AI-driven contract da
Slide 47: Market Environment as a Tailwind
Sansan Group Overview Market Environment as a Tailwind Digital transformation is boosting the need for cloud-based solutions. Domestic Private IT Market Size (1) Digital Transformation Market Size (2) SaaS Market Size in Japan (3) (billions of yen) (billions of yen) (billions of yen) +¥2,050.0 +¥4,0
Slide 48: Company Overview
Sansan Group Overview Company Overview (1) Company name Sansan, Inc. Founded June 11, 2007 Head office Shibuya Sakura Stage 28F, 1-1 Sakuragaoka-cho, Shibuya-ku, Tokyo, Japan Other locations Branch offices: Osaka, Fukuoka, Aichi Satellite offices: Tokushima, Kyoto, Niigata Head Office Group companie
Slide 49: About Employees
Sansan Group Overview About Employees Employees (Consolidated) Breakdown by Organization (1) (persons) 2,235 1,899 Others 1,399 1,205 Eight business 2,235 955 employees Sansan/Bill One business FY2020 FY2021 FY2022 FY2023 FY2024 End-Q4 End-Q4 End-Q4 End-Q4 End-Q4 (1) As of May 31, 2025 © Sansan, Inc
Slide 50: About Stock Options
Sansan Group Overview About Stock Options Exercise Period, Share Price Condition and Number of Shares Share price Number of Status of expensing Issued stock options Exercise period condition (1) shares (2) options July 15, 2024 - 290,400 Stock options with share price condition (Series 7) ¥2,344 Ful
Slide 51: Percentage of Each Expense Category to Net Sales
Sansan Group Overview Percentage of Each Expense Category to Net Sales Percentage of Each Expense Category to Net Sales (1) (Cost of Sales/R＆D (2), S&M (3), G&A (4)) G&A S&M R&D Cost of sales 120.0% 100.0% 12.3% 12.3% 14.4% 14.9% 13.4% 80.0% 16.7% 19.5% 19.9% 18.0% 17.9% 60.0% 44.5% 43.5% 39.7% 40.0
Slide 52: Sansan/Bill One Business
Sansan/Bill One Business © Sansan, Inc.
Slide 53: Sansan Solution Overview
Sansan/Bill One Business Sansan Solution Overview Builds a company-wide database of information on people, companies, and activity. Leveraging Sansan drives sales growth and cost reduction. Centrally Managed Database Contact information Company information Activity history based on business cards an
Slide 54: Sansan: Digitizing Contact Information to Visualize Internal Human Networks
Sansan/Bill One Business Sansan: Digitizing Contact Information to Visualize Internal Human Networks Contact Management © Sansan, Inc. 53
Slide 55: Sansan: Incorporating a Variety of Corporate Information
Sansan/Bill One Business Sansan: Incorporating a Variety of Corporate Information Corporate Information Activity History © Sansan, Inc. 54
Slide 56: Sansan: Sales Composition by Customer Size
Sansan/Bill One Business Sansan: Sales Composition by Customer Size (Recurring Sales) No significant change in the revenue composition ratio by customer size. Sansan Sales Composition by Customer Size (1) (Recurring Sales) Company size Composition at YoY change (number of employees) FY2024 End-Q4 (r
Slide 57: Sansan: Overwhelming Market Share and Solid Customer Base
Sansan/Bill One Business Sansan: Overwhelming Market Share and Solid Customer Base Has gained high level of brand recognition among B2B services and established an overwhelming market share. Built a solid customer base backed by Japan’s highest level of SaaS management expertise, cultivated since we
Slide 58: Sansan: Potential Market Size in Japan
Sansan/Bill One Business Sansan: Potential Market Size in Japan (TAM) The number of users within current customers is limited, and there is room for many dozens of times more coverage expansion in Japan. Sansan Coverage Sansan Coverage Company Size (companies) (1) (employees) (1) (employees) (YoY pe
Slide 59: Sansan: Service Plans
Sansan/Bill One Business Sansan: Service Plans Providing basic company-wide use plan. A. Basic company-wide use plan B. Previous plan (ID subscription) Timing of payment 1 Cost by number of contract IDs Initial cost 12 months’ license cost Digitization costs for business cards already held At start
Slide 60: Bill One: Solution Overview
Sansan/Bill One Business Bill One: Solution Overview Enables the digital transformation (DX) of company-wide, voucher-based operations for payables, receivables, and employee expenses. Company-wide Voucher-based Operations Incoming invoices Receipts Outgoing invoices Receive, digitize & centralize y
Slide 61: Bill One: Overview of Bill One Invoice Receive
Sansan/Bill One Business Bill One: Overview of Bill One Invoice Receive Promotes DX in invoicing by enabling online receipt of all types of invoices and ensuring their accurate digitization. Implementing Bill One enables smoother compliance with legal reforms, while accelerating monthly closing. Rec
Slide 62: Bill One: Overview of Bill One Expense
Sansan/Bill One Business Bill One: Overview of Bill One Expense Uses the Bill One Business Card to solves issues related to expenses. Streamlines expense reimbursement and reduces costs, while lowering the financial burden on employees (1). Issue cards and make Review results payments on Bill One an
Slide 63: Bill One: Overview of Bill One Accounts Receivable
Sansan/Bill One Business Bill One: Overview of Bill One Accounts Receivable Visualizes invoice data in real time and centralizes the accounts receivable process. Solves core issues by matching payment and receivables data 100%. Sales management Accounts receivable management Accounting management Em
Slide 64: Bill One: Room for Expanded Medium- and Large-Sized Company Coverage
Sansan/Bill One Business Bill One: Room for Expanded Medium- and Large-Sized Company Coverage Sales for large-sized companies are largely growing. Sales Composition by Customer Size (1) Company size Composition at YoY change (number of employees) FY2024 End-Q4 (revenue) 1,000+ 100-999 + 24% <100 37.
Slide 65: Bill One: Customer Base and Positioning
Sansan/Bill One Business Bill One: Customer Base and Positioning Regardless of industry or business type, acquiring various customers. Achieved #1 sales in cloud invoice receiving service market. Market Share in Cloud Invoice Receiving Services (1) Customers Running Bill One Sales share in 2023 Othe
Slide 66: Bill One: Potential Market Size in Japan
Sansan/Bill One Business Bill One: Potential Market Size in Japan (TAM) There is a large potential market, even in Japan. Aiming for sustainable high growth while enhancing the service’s value proposition. Bill One Coverage Company Size (companies) (1) (employees) (YoY percentage point change) 1,000
Slide 67: Expansion of Bill One Invoice Network
Sansan/Bill One Business Expansion of Bill One Invoice Network Approx. 228,000 companies in the Bill One invoice network as of FY2024 end. Total invoices in invoice network accounts for ¥56 trillion annualized as of May 2025. Bill One Invoice Network ～Approx. 2million Approx. 228,000 3,932 companies
Slide 68: Bill One: External Environment after Japan's Invoicing System started
Sansan/Bill One Business Bill One: External Environment after Japan’s Invoicing System started Japan’s Invoicing System entered into effect in October 2023 and the grace period for the Electronic Bookkeeping Act concluded at the end of December 2024. Various changes are expected to occur in the envi
Slide 69: Eight Business
Eight Business © Sansan, Inc.
Slide 70: Eight Business: Net Sales
Eight Business Eight Business: Net Sales Sales tend to be higher in Q2 and Q4, when we hold large business events. Net Sales （millions of yen） B2C service BtoCサービス BtoBサービス B2B service 1,591 1,267 1,284 1,324 1,018 909 851 783 771 1,485 702 613 599 1,175 1,185 1,222 552 533 488 454 940 424 424 824 7
Slide 71: Eight: Service Outline
Eight Business Eight: Service Outline Business card app used by 4.0 million+ professionals; enables Virtual Card Exchange and smart contract management. Business card app Eight is the business card app that maximizes the value of all your connections. Open the app, Take a photo and easily manage Upd
Slide 72: Eight: Monetization Plans
Eight Business Eight: Monetization Plans Monetization by strengthening corporate solutions that leverage network of 4.0 million+ users. B2C Services B2B Services (1) Business card management Business events Recruiting platform B2C B2B B2B B2B Fixed monthly fee Fixed monthly fee Fixed fee per event F
Slide 73: Initiatives for Sustainability
Initiatives for Sustainability © Sansan, Inc.
Slide 74: Material Issues (Priority Issues)
Initiatives for Sustainability Material Issues (Priority Issues) Identified key material issues (priority issues) relating to environment, society, and governance and set long-term quantitative targets. Working to resolve these issues through our core business, we aim to contribute to achieving the
Slide 75: Expansion and Upgrading of Sustainability Information
Initiatives for Sustainability Expansion and Upgrading of Sustainability Information ESG data expanded on sustainability page of our corporate website. Published Annual Report 2024, expanding sustainability information. - Sustainability page - Annual Report Japanese: https://jp.corp-sansan.com/susta
Slide 76: External Evaluations
Others External Evaluations Acquired various external evaluations regarding ESG Rating, Annual Report, and IR activities. ESG Rating/ESG Index Annual Report 2023 IR Website Nikko Investor Relations Co., Ltd. MSCI (1) MerComm, Inc. International ARC Awards(2) All Markets Ranking in Japan MSCI ESG rat
Slide 77: Sansan
Sansan