Makuake, Inc. · TSE:4479
Makuake — Q3 FY2025/9 Earnings Presentation
46 slides from Makuake's earnings presentation, Jul 29, 2025
Slide 1: Financial Results Briefing Materials for Q3 FY2025/9
Makuake Financial Results Briefing Materials for Q3 FY2025/9 (Fiscal Year Ending September 30, 2025) Makuake, Inc. Securities code: 4479
Slide 2: Financial Results
Financial Results (Results for Q3 FY2025/9)
Slide 3: Overview of Q3 FY2025/9
Overview of Q3 FY2025/9 Results Total transaction volumes increased by 17.2% QoQ to JPY 4,887 million, exceeding the plan. The continued creation of large-scale projects, mainly for large ) companies, in May and June provided the background for this development Net sales increased by 21.4% QoQ due t
Slide 4: Total Transaction Volume
Total Transaction Volume* + The total transaction volume grew significantly from the previous quarter, reaching a 17.2% increase at JPY 4,887 million. We have made progress toward exceeding the plan through the continued creation of large-scale projects mainly for large companies in May and June (Un
Slide 5: Net Sales and Take Rate
Net Sales and Take Rate + Net sales increased 21.4% QoQ due to growth in ancillary services centered on advertising delivery services in addition to the increase in transaction volumes. Both net sales and the take rate have grown for 5 consecutive quarters since bottoming out in Q2 of FY2024/9 (Unit
Slide 6: Gross Profit and Gross Profit Margin
Gross Profit and Gross Profit Margin * Gross profit increased 18.2% QoQ to JPY 959 million. The gross profit margin decreased by 2.0 pt QoQ to 73.9% due to incurring one-time outsourcing expenses involved in project creation in combination with an increase in advertising agency sales (Unit: JPY mill
Slide 7: Selling, General, and Administrative Expenses
Selling, General, and Administrative Expenses + An increase in transaction volume resulted in an increase in payment fees. In addition, while personnel expenses increased due to the expenses involved in development and human capital management investments, the employee count decreased (Unit: JPY mil
Slide 8: Operating Profit (Loss) and Operating Profit Margin
Operating Profit (Loss) and Operating Profit Margin * Operating profit in Q3 reached JPY 158 million due to the increase in net sales, and cumulative operating profit up to this point has surpassed the full-year financial forecast. However, as we will increase upfront investment in Q4 with a view to
Slide 9: Key KPIs
Key KPIs + The number of active projects has trended toward an increase due to measures to acquire new projects by the sales team and measures to enhance repeat customers by the curators. In addition, the monthly project unit value and monthly amount of “support” pre-orders have grown significantly
Slide 10: Major Projects Published in Q3 FY2025/9 (Small and Medium-Sized Enterprises)
Major Projects Published in Q3 FY2025/9 (Small and Medium-Sized Enterprises) + Gadgets with Al and loT features, space-efficient products that have been trending in recent years, and high-performance products tailored to fit personal lifestyles have received a significant amount of support. Also, se
Slide 11: Major Projects Published in Q3 FY2025/9 (Large Companies)
Major Projects Published in Q3 FY2025/9 (Large Companies) + We continue to showcase a high quantity of products closely integrated into our daily lives which are provided by large companies. This lineup included a whiskey produced based on the concept of “for life” that received “support” pre-orders
Slide 12: SDGs-Related Projects Published in Q3 2025/9
SDGs-Related Projects Published in Q3 2025/9 + Listings continue to highlight products made with technologies that utilize waste materials, and there is a healthy selection of products that are designed for local revitalization and products that offer an approach to modern social issues with new way
Slide 13: TOPICS: New Records Set by Makuake
TOPICS: New Records Set by Makuake Over 400 Sake Breweries Listing Projects on Makuake Since the service launched in August 2013, the number of sake breweries engaged in listing projects on Makuake has grown over 400, reaching approximately one-fourth of all of the sake breweries in Japan Sake brewe
Slide 14: TOPICS: Real-world Events for Direct Interaction with Owners and Supporters
TOPICS: Real-world Events for Direct Interaction with Owners and Supporters Held “Makuake CHALLENGER’S MEETUP 2025” Held “Makuake Gadget Special Days” for for Interaction with Owners Nationwide Experiencing and Purchasing the Latest Gadgets VIPTl. [HRB OB RMR! \—br—] KRHNET. Temporarily suspended du
Slide 15: TOPICS: Launching the Makuake Insight Service
TOPICS: Launching the Makuake Insight Service We launched “Makuake Insight,” a research service that works to visualize new product trends and customer insights + (Before project listing) Planning and development of new products + (After project end) Strategic planning for regular sales and developm
Slide 16: Financial Forecasts
FY2025/9 Financial Forecasts
Slide 17: FY2025/9 Financial Forecasts
FY2025/9 Financial Forecasts + Net sales are expected to grow 10.6% YoY, and operating profit is forecast to turn from a loss to a profit of JPY 310 million. We also expect an operating profit margin of 7.7% (Unit: JPY million) Total Transaction Volume ‘Sum of “Support” Pre-orders and ‘Secure System
Slide 18: Progress Rate Against FY2025/9 Performance Forecast
Progress Rate Against FY2025/9 Performance Forecast and Background to Forecasts Remaining Unchanged + Net sales are exceeding the plan, and profits exceeded the earnings forecast by over 30%. Based on this progress, we decided to enhance upfront investment with a view toward achieving the medium-ter
Slide 19: Additional Investment Plan in Q4 FY2025/9 and Analysis of Changes in Profits for H2
Additional Investment Plan in Q4 FY2025/9 and Analysis of Changes in Profits for H2 + In addition to the JPY 40 million in additional investment costs for H2 included in the earnings forecast announced on April 22, 2025, we plan to make additional upfront investments of approximately JPY 50 million
Slide 20: Business Strategies for FY2025/9
Business Strategies for FY2025/9 + Inthe Makuake business, we seek to improve operational stability by acquiring projects from quality project owners and reducing seasonal fluctuations, while also working to solidify our revenue base and build a track record so that we can further expand revenue fro
Slide 21: Medium-Term Management Plan (FY2025/9 - FY2027/9)
Medium-Term Management Plan (FY2025/9 - FY2027/9)
Slide 22: Issues Facing the Company Based on Transaction Volume Trends to Date
Issues Facing the Company Based on Transaction Volume Trends to Date + While we expanded transaction volume in the pre-sales e-commerce market for new products and services and secured the top position, our flagship business is flow-type, making it susceptible to external environmental factors, maki
Slide 23: The Environment Surrounding Businesses and Challenges Faced by Customers
The Environment Surrounding Businesses and Challenges Faced by Customers + As Japan's labor force declines, small and medium-sized enterprises and regional businesses, which account for the majority of our customers, are more likely to face labor shortages, forcing them to focus on their core compet
Slide 24: Makuake's Unique Business Assets that Contribute to Solving Customer Issues
Makuake's Unique Business Assets that Contribute to Solving Customer Issues + While developing various services, we have accumulated unique assets that can only be found at Makuake and not at other companies. We believe that these assets will be extremely effective in providing precise solutions to
Slide 25: Providing Solutions that Change Businesses' Resource Investment Points
Providing Solutions that Change Businesses' Resource Investment Points + By leveraging our unique assets to provide solutions for the Plan-Debut-Growth of products, we believe that businesses will be able to focus on their core competencies, while we will be able to accompany them over the long term
Slide 26: Support from Product Planning to Sales (Plan-Debut-Growth)
Support from Product Planning to Sales (Plan-Debut-Growth) for Products to be Realized by FY2027/9 + From a focus centered on launching new products, we will transform our business model to one that provides continuous support to businesses from production to growth, centered on insight functions, a
Slide 27: Targets for Each Business Year by FY2027/9
Targets for Each Business Year by FY2027/9 + We will transform ourselves from the largest platform for new product and service pre-sales into a business growth partner for challengers, and our medium-term milestone is to establish an overwhelming position in the domestic retail distribution market f
Slide 28: Targets and Future Revenue Outlook by FY2027/9
Targets and Future Revenue Outlook by FY2027/9 + Through business development in the Plan and Growth domains, we will increase the services we provide to each customer and expand revenue per customer by combining flow-type revenue with stock-type revenue, with the aim of achieving net sales of JPY 5
Slide 29: Human Capital Management Plan to Ensure the Realization of the Medium-Term Management Plan
Human Capital Management Plan to Ensure the Realization of the Medium-Term Management Plan by FY2027/9 + We have identified three major issues for realizing our Medium-Term Management Plan and will implement solutions while driving growth through human capital management, leveraging our employees' s
Slide 30: Status Targets for Human Capital Management Strategy by FY2027/9
Status Targets for Human Capital Management Strategy for Each Business Year by FY2027/9 + Wewill build a foundation for value judgment that will enable us to exceed our medium-term management targets, evolve the P-D-G (Plan- Debut-Growth) cycle led by the frontline, and aim to create a workplace whe
Slide 31: Appendix
Appendix
Slide 32: The World Makuake Aspires For
The World Makuake Aspires For * Guided by our vision and mission, we are striving for society enriched through the connection of the "new" that consumers seek and the "new" that companies wish to introduce to the world Create a world where worthy things Vision can come to be, grow and endure Connect
Slide 33: Makuake—Venue for Launch of New Products and Services
Makuake—Venue for Launch of New Products and Services + Weare a marketplace where consumers can buy premiering new products and services faster through “support* pre-orders @Makuake REDDY YB AEXRAA CH TRB. Hee ILE mmm */ Se Est ge me ty el) PIBLA BOPUHBEMEMBALAS. RopenseRcraryLyonimnee rem Copyright
Slide 34: Makuake's Business Model
Makuake's Business Model + Businesses can pre-sell their new products and services still in the planning phase on Makuake, while consumers, in the spirit of cheering on, can pre-purchase their products of interest through “support” pre-orders E98 20% Businesses commission Consumers =Project Owners =
Slide 35: Factor Analysis of Makuake's Service Structure
Factor Analysis of Makuake's Service Structure + Gross amount of "support" pre-orders, a KGI of Makuake, can be broken down into factors of two axes relating to project owners and supporters. These factors interact with each other and multiply to create a structure that generates accelerated growth
Slide 36: Other Services
Other Services + We aim to maximize the value of the Makuake ecosystem by offering various services related to Makuake’s operations ® Makuake STORE ® Makuake SHoP ® Advertising Delivery Agency Service selling products Service exhibiting/selling Online advertising agency created in Makuake on product
Slide 37: Ecosystem of Makuake Service in the Distribution Market
Ecosystem of Makuake Service in the Distribution Market + By providing wide-ranging support from new product and service planning phase to their launch and sales expansion after mass production, we accumulate various market data. Using these data, we provide businesses insights for their next new pr
Slide 38: Financial Results Summary: YoY (Cumulative through Q3)
Financial Results Summary: YoY (Cumulative through Q3) (Unit: JPY million) Total Transaction Volume* ‘Sum of “Support” Pre-orders and ‘Secure System Usage Fees (including tax) Net Sales Gross Profit Operating Profit (Loss) Ordinary Profit (Loss) Net Income (Loss) FY2024/9 Q1-3 12,644 2,731 2,092 (11
Slide 39: Financial Results Summary: YoY (Standalone Quarter)
Financial Results Summary: YoY (Standalone Quarter) (Unit: JPY million) Total Transaction Volume* ‘Sum of “Support” Pre-orders and ‘Secure System Usage Fees (including tax) Net Sales Gross Profit Operating Profit (Loss) Ordinary Profit (Loss) Net Income (Loss) FY2024/9 Q3 (standalone) 4,094 871 667
Slide 40: Financial Results Summary: QoQ (Standalone Quarter)
Financial Results Summary: QoQ (Standalone Quarter) oy cae FY2025/9 (Unit: JPY million) Q2 (standalone) Total Transaction Volume* ‘Sum of “Support” Pre-orders and 4,169 Secure System Usage Fees (including tax) Net Sales 1,070 Gross Profit 812 Operating Profit (Loss) 161 Ordinary Profit (Loss) 162 Ne
Slide 41: KPIs: YoY (Standalone Quarter)
KPls: YoY (Standalone Quarter) FY2024/9 Q3 (standalone) No. of Published Projects 1,549 No. of Published Projects by 968 Repeat Project Owners Project Owners’ Repeat Rate ‘ou 62.5 Amount of Repeat "Support" PIPY milli 3,187 Pre-orders (JPY million) Repeat praia 178 No. of Access Unique Users 9,021,2
Slide 42: KPIs: QoQ (Standalone Quarter)
KPls: QoQ (Standalone Quarter) FY2025/9 Q2 (standalone) No. of Published Projects 1,234 No. of Published Projects by 762 Repeat Project Owners Project ot Rate 61.8 pyeorders PV millon) 2,986 Repeat praia TAB No. of Access Unique Users 7,944,597 No. of Members 3,077,017 No. of “Support” Pre-orders 27
Slide 43: Dividend Policy
Dividend Policy As the company is currently in a state of growth, we believe that by retaining profits and prioritizing investment in expanding business size and improving earning power will lead to maximization of our corporate value and a continuous stream of profit return to shareholders. As to f
Slide 44: Disclaimer and Cautions Regarding Future Outlook
Disclaimer and Cautions Regarding Future Outlook m While the content of this document has been prepared based on generally recognized economic and social conditions as of July 29, 2025 and certain assumptions deemed reasonable by Makuake, Inc., it may change due to shifts in business environment and
Slide 45: IR Inquiries
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Slide 46: Makuake
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