Makuake, Inc. · TSE:4479
Makuake — Q2 2025 Earnings Presentation
46 slides from Makuake's earnings presentation, Apr 22, 2025
Slide 1: Financial Results Briefing Materials for Q2 FY2025/9
Makuake Financial Results Briefing Materials for Q2 FY2025/9 (Fiscal Year Ending September 30, 2025) Makuake, Inc. Securities code: 4479
Slide 2: Financial Results
Financial Results (Results for Q2 FY2025/9)
Slide 3: Overview of Q2 FY2025/9
Overview of Q2 FY2025/9 In March, we were able to create a number of large projects, and thanks to growth in transaction volumes, net sales exceeded the plan, achieving 54.0% versus the full-year plan in H1 Purchases increased due to higher sales of advertising delivery agency services, and the cost
Slide 4: Total Transaction Volume
Total Transaction Volume* + In the Q2, which has fewer business days, transaction volume tends to decline due to seasonal factors such as a decrease in the number of active projects. However, in the Q2, we were able to generate a large number of large projects in March through measures to increase p
Slide 5: Net Sales and Take Rate
Net Sales and Take Rate + In addition to the increase in transaction volume, sales of ancillary services, including advertising delivery agency services sales, increased, resulting in a 9.1% increase in net sales QoQ. Also, the take rate increased by 0.7 pt QoQ due to an increase in sales of ancilla
Slide 6: Gross Profit and Gross Profit Margin
Gross Profit and Gross Profit Margin + Gross profit increased 7.2% QoQ, but gross profit margin edged down to 75.9% QoQ due to the impact of ad delivery efficiency (Unit: JPY million) 81.7% 82.0% 81.6% 80.1% 79.5% 11.1% 79.0% 79.0% 78.2% 11.2% : 75.3% 76.5% 14 40H : 75.9% —@— Gross Profit Margin BEI
Slide 7: Selling, General, and Administrative Expenses
Selling, General, and Administrative Expenses + Personnel expenses decreased due to changes in the executive structure and a reduction in personnel, while advertising expenses edged up due to the strengthening of marketing measures in January and March (Unit: JPY million) [EMME Payment Fees/others [
Slide 8: Operating Profit (Loss) and Operating Profit Margin
Operating Profit (Loss) and Operating Profit Margin * Operating profit significantly exceeded the plan, continuing from the previous quarter, at JPY 161 million, due to an increase in net sales and the postponement to H2 of expenses related to management training and offline events aimed at improvin
Slide 9: Key KPIs
Key KPIs + The number of active projects tends to decrease in Q2 due to fewer business days, and decreased 9.2% QoQ. On the other hand, project unit values increased significantly by 17.2% QoQ, thanks to the success of various support menu items aimed at raising unit values For the quarter: No. of A
Slide 10: Major Projects Published in Q2 FY2025/9 (Small and Medium-Sized Enterprises)
Major Projects Published in Q2 FY2025/9 (Small and Medium-Sized Enterprises) + Among the popular categories on Makuake, projects featuring high-priced items such as gadgets, leather goods, and electric mobility have generated a significant amount of "support" pre-orders 208,202,697F3 = 3.9494 "7 Mul
Slide 11: Major Projects Published in Q2 FY2025/9 (Large Companies)
Major Projects Published in Q2 FY2025/9 (Large Companies) + Numerous attractive projects overflowing with ideas that appeal to consumers' discerning tastes, regardless of genre, have been created by large companies wan BS ee Sd Gad Bs 36,354,395F4 = 7554, 98 MBIA, ICH COE RIOR Iwatani 9,426,032F9 Ez
Slide 12: SDGs-Related Projects Published in Q2 2025/9
SDGs-Related Projects Published in Q2 2025/9 + Products born from the aspirations of project owners to confront social issues contribute to the future through cultural preservation, employment promotion, environmental conservation, etc 1,195,950F wEny7E@MUR yorat7e—N . ike VERTERE WEARYT (RYTCSDE) M
Slide 13: Financial Forecasts FY2025/9
FY2025/9 Financial Forecasts
Slide 14: Progress Rate Against FY2025/9 Performance Forecast
Progress Rate Against FY2025/9 Performance Forecast + Net sales were 54.0% of the full-year forecast, and profits exceeded the forecast by 200%. Profit significantly exceeded the forecast due to higher net sales resulting from the creation of large projects in Q2 and a reduction in SG&A expenses in
Slide 15: FY2025/9 Full-Year Financial Forecasts Revised (vs. Initial Forecasts)
FY2025/9 Full-Year Financial Forecasts Revised (vs. Initial Forecasts) + Net sales are expected to be JPY 4,040 million, which is the sum of the results for H1 and the initial forecast for H2. Operating profit is expected to be JPY 310 million thanks to additional investments in Al, new businesses,
Slide 16: FY2025/9 Full-Year Financial Forecasts Revised (YoY)
FY2025/9 Full-Year Financial Forecasts Revised (YoY) + 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-o
Slide 17: Analysis of Changes in Operating Profit for H2 of FY2025/9
Analysis of Changes in Operating Profit for H2 of FY2025/9 + In addition to regular SG&A expenses in H2, including personnel recruitment, we plan to incur a one-time expense of JPY 30 million for costs that were scheduled to be incurred in H1 but were postponed, and additional investments of approxi
Slide 18: 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 19: Medium-Term Management Plan (FY2025/9 - FY2027/9)
Medium-Term Management Plan (FY2025/9 - FY2027/9)
Slide 20: 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 21: 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 22: 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 23: 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 24: 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 25: 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 26: 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 27: 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 28: Status Targets for Human Capital Management Strategy for Each Business Year
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 29: Appendix
Appendix
Slide 30: 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 31: 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 32: 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 33: 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 34: Makuake Incubation Studio (MIS)
Makuake Incubation Studio (MIS) + We accompany businesses in accurately conveying the value of their technology and in branding it, supporting "social implementation of R&D technologies." We receive commissions based on the support we provide Product and Business Planning Based on Technology Product
Slide 35: 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 36: New services to be offered from Q2 of FY2025/9 Makuake Insight
New services to be offered from Q2 of FY2025/9 Makuake Insight MakuakefyYYfhickoTRRMC#SCL (Makuake i) a eae (Makuake #) (mom >). “Valais <Makuake ff) COMRICRRRESOD #8#O=-LH_PEEY CARAPMOTCAEOD AdtpokOeetson, K_PSsU —_ _ Makuake -_-vaume ) vavacoh (gavaor \ LYK F-2 7 at BML Ab \ Boao (iy) ( FA y Yawk
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 Q2)
Financial Results Summary: YoY (Cumulative through Q2) FY2024/9 (Unit: JPY million) Qi-2 Total Transaction Volume* ‘Sum of “Support” Pre-orders and 8,549 ‘Secure System Usage Fees (including tax) Net Sales 1,860 Gross Profit 1,425 Operating Profit (Loss) (98) Ordinary Profit (Loss) (96) Net Income (
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 Q2 (standalone) 3,957 830 649
Slide 40: Financial Results Summary: QoQ (Standalone Quarter)
Financial Results Summary: QoQ (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) FY2025/9 Q1 (standalone) 3,920 980 757
Slide 41: KPIs: YoY (Standalone Quarter)
KPls: YoY (Standalone Quarter) FY2024/9 Q2 (standalone) No. of Published Projects 1,499 No. of Published Projects by 860 Repeat Project Owners Project Owners’ Repeat Rate ea 57.4 Amount of Repeat "Support" Pre-orders (JPY million) 3,038 Repeat praia 76.8 No. of Access Unique Users 9,996,622 No. of M
Slide 42: KPIs: QoQ (Standalone Quarter)
KPls: QoQ (Standalone Quarter) FY2025/9 Q1 (standalone) No. of Published Projects 1,424 No. of Published Projects by 835 Repeat Project Owners Project Owners’ Repeat Rate (0)? 58.6 Amount of Repeat "Support" Pre-orders (JPY million) 2,952 Repeat praia 71 No. of Access Unique Users 8,519,009 No. of M
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 April 22, 2025 and certain assumptions deemed reasonable by Makuake, Inc., it may change due to shifts in business environment an
Slide 45: IR Inquiries
Copyright © Ma IR Inquiries |IR@makuake.co.jp
Slide 46: Makuake
@® Makuake