Bengo4.com, Inc. · TSE:6027
Bengo4.com — Q2 FY3/2026 Earnings Presentation
78 slides from Bengo4.com's earnings presentation, Nov 12, 2025
Slide 1: FY3/2026 Q2 Results
FY3/2026 Q2 RESULTS Bengo4.com, Inc. Nov. 12, 2025
Slide 2: Contents
Contents 01 FY3/2026 Q2 Results P. 3−12 02 LEGAL BRAIN P. 13−21 03 Business Overview P. 22−38 04 Appendix P. 39−77 1
Slide 3: Vision and Mission
VISION・MISSION VISION Drive a paradigm shift for the better world. Be the Professional-Tech Company. MISSION Do what only professionals can do. Contribute to society using expert knowledge and technologies. 2
Slide 4: FY3/2026 Q2 Results
FY3/2026 Q2 Results © Bengo4.com, Inc. 2025
Slide 5: Topics for FY3/2026 1H
Topics for FY3/2026 1H Net sales increased 16.0% YoY and operating profit surged 98.8% YoY, exceeding the first-half budget. Net Sales 7,764 Mil. JPY ー + 16.0 %（YoY） EBITDA 1,535 Mil. JPY ー + 67.0 %（YoY） Operating Profit 1,084 Mil. JPY ー + 98.8 %（YoY） Ordinary Profit 1,085 Mil. JPY ー + 92.7 %（YoY） N
Slide 6: Quarterly trend in Net Sales
Quarterly trend in Net Sales Strong growth of sales continued in Q2. The progress rate reached 48.2% toward the full-year net sales forecast of 16.1 billion yen, exceeding the planned pace. A large-scale order was secured for Legal Brain Agent, and marking a strong start to the second half. （Mil. Ye
Slide 7: Quarterly trend in ARR
Quarterly trend in ARR Company-wide ARR was 13.22 billion yen. ARR ⚫ CloudSign ARR grew by 29.2% YoY. YoY CloudSign 13.22 Bil. JPY ＋ 29.2% （Bil.Yen） 13.0 127.3 127.7 Bengoshi.com and others 117.7 111.2 CloudSign 106.6 107.2 4.7 100.2 4.6 4.7 4.6 4.5 80.9 4.5 4.5 76.2 76.7 4.4 68.1 69.7 64.5 2.9 6.5
Slide 8: Quarterly trend in SGA
Quarterly trend in SGA Personnel expenses will be managed by hiring staff as planned while controlling recruitment fees. Sales growth was achieved while improving profitability. （Mil. Yen） 2,600 2,523 2,518 2,492 Other Expenses Amortization of goodwill and other 2,313 319 2,350 2,213 2,254 340 Rent
Slide 9: Quarterly trend in Operating Profits
Quarterly trend in Operating Profits In Q2, we achieved record quarterly operating profit of 573 million yen and an operating profit ratio of 14.5%. Exceeded the first-half budget. Operating profit was 54.2% of the full-year operating profit forecast, which is 2 billion yen. YoY EBITDA reached 810 m
Slide 10: Promoting AI Co-creation Management
Promoting AI Co-creation Management Positioning AI not as a tool to replace human work, but as a management resource that co-creates with people. By maximizing the expertise and potential of every professional and fostering co-creation with AI, we aim to fulfill our mission: Be the Professional-Tech
Slide 11: AI Co-creation Management Maturity Model
AI Co-creation Management Maturity Model The AI Co-creation Management Maturity Model defines AI proficiency levels across four business categories based on the characteristics of each function—Management, Specialists, Customer Engagement, and Operations. Through this structured framework, the Compa
Slide 12: Enhancing thinking and judgement skills and AI utilization skills
Enhancing "thinking and judgement skills" and "AI utilization skills" The Company implements a human resource development strategy built on two pillars: the reinforcement of human reasoning—creative thinking and judgement that embody uniquely human value, and the systematic enhancement of AI utiliza
Slide 13: Launching AI-native products
Not just for internal use, we're launching AI-native products Actively advancing the development of AI-native products and the implementation of AI features, not limited to internal AI utilization. Use Cases Scene Details Automated management agenda AI analyzes and integrates vast amounts of interna
Slide 14: Legal Brain
LEGAL BRAIN 13
Slide 15: Legal Brain initiative
Legal Brain initiative Database of Lawyer legal precedents database Judge Secret database Leagal Public consultation Prosecutor Q&A database Legal Contract profession book database database Strengthen development M&A also utilized capabilities by hiring engineers, to acquire legal knowledge forming
Slide 16: What we hope to accomplish through Legal Brain
What we hope to accomplish through Legal Brain LAWYER BUSINESS CONSUMER Empowering Japanese society through legal services as "Japan's Legal Department" 15
Slide 17: Launch Provision of Legal Brain Agent
Launch Provision of Legal Brain Agent From May 23, we started offering features to support complex legal research tasks. Going forward, we will gradually add features to comprehensively cover legal operations. Main features 01 Advanced research support using natural language • Extracts highly releva
Slide 18: Full-Scale Launch of Legal AI Research Function for Lawyers
Full-Scale Launch of Legal AI Research Function for Lawyers By entering specific case details, users can search for precisely matching precedents. Question display Check sources from Hanreihisho View case summaries Display rulings by issue 17
Slide 19: Legal Brain Achieves Human-Surpassing Accuracy
Legal Brain Achieves Human-Surpassing Accuracy In the 2025 bar exam （multiple-choice section）, a score of 169 out of 175 points （96.5% correct answer rate ） was achieved. Achieved results exceeding the highest score among examinees （167 points） Bar exam （multiple-choice section） 175 points maximum (
Slide 20: Legal Brain Agent Usage and Benefits
Legal Brain Agent Usage and Benefits Legal Brain Agent is used in the legal departments of major financial institutions, large corporations, and law firms handling mainly corporate legal affairs. Companies using Legal Brain Agent* Benefits 01 Speedy research • Makes it possible to quickly conduct re
Slide 21: Introduction of Legal Brain Agent at Anderson Mori & Tomotsune
Introduction of Legal Brain Agent at Anderson Mori & Tomotsune Following the successful verification of utility in the trial phase, all lawyers and paralegals at the firm have begun to make full use of the system. In parallel, Anderson Mori & Tomotsune, Mirai Translate, and Bengo4.com are jointly co
Slide 22: Legal Domain TAM
Legal Domain TAM The target market for Legal Brain has expanded to include the corporate legal affairs market in addition to the lawyer and contract markets. Legal needs continue to grow and the market is expected to continue to grow. Corporate legal affairs and Lawyer market Contract-related market
Slide 23: Business Overview
Business Overview } () } 6
Slide 24: CloudSign
CLOUDSIGN 23
Slide 25: Trend in Net Sales
Trend in Net Sales In Q2, new MRR and net MRR reached record highs. Driven by strong demand for electronic contract services, the growth rate of recurring Sales sales accelerated compared with the previous fiscal year. E-co ntract market Trend in net sales Recurring sales 2,120 Growth pace of recurr
Slide 26: Change in free plan contract limit
Change in the limit on the number of contracts sent for free plans in December 2025 From December 2025, the limit on the number of contracts sent under the Free Plan will be changed from 3 to 2. Anticipating an increase in new self-service acquisitions. 【For Reference】 Impact of the July 2023 change
Slide 27: Trend in the number of contracts
Trend in the number of contracts （The number of contracts sent bearing an electronic signature and a timestamp） The number of contracts sent increased steadily, surpassing 2.8 million in the quarter. Trend in the Number of Contracts by Quarter Network effects of electronic contract service （1,000 co
Slide 28: Status of Introduction by Local Governments
Status of Introduction by Local Governments Of 505 local governments that have introduced electronic contracts, 343 local governments (approx. 70%)* have introduced CloudSign. We have expanded the number of municipalities introducing the system while maintaining market share. Local governments using
Slide 29: CloudSign introduction in different industries
CloudSign introduction in different industries The introduction of CloudSign by enterprises is accelerating just like local governments. Banks, securities, insurance and other financials IT services, information, telecommunications, human resources and media Construction / Real estate Transportation
Slide 30: Bengoshi.com
BENGOSHI.COM Bengoshi means lawyer 29
Slide 31: Trend in Net Sales
Trend in Net Sales Following the acquisition of Hanreihisho, the customer attraction support service has increased revenue for eight quarters in a row, showing signs of recovery. Cross-selling of Bengoshi.com Library and Hanreihisho is in progress. Trend in net sales ■ Bengoshi.com career etc. Caree
Slide 32: Trend in the Number of Registered Lawyers
Trend in the Number of Registered Lawyers The number of registered lawyers reached 29,062,accounting for a 62% share of lawyers in Japan. Accelerated sales of BengoKakumei and cross-selling of Bengoshi.com LIBRARY and Hanreihisho drove an increase in paid registered lawyers. Trends in Number of Regi
Slide 33: Promotion of Sales Collaboration in Products for Lawyers
Promotion of Sales Collaboration in Products for Lawyers In the domain of services for lawyers, promoted group collaboration with Bengoshi.com, Hanreihisho, and BengoKakumei. Cross-selling of Hanreihisho and Bengoshi.com Library is progressing steadily, and sales of BengoKakumei are accelerating. 4,
Slide 34: Zeirishi.com
ZEIRISHI.COM Zeirishi means tax accountant 33
Slide 35: Zeirishi.com
Zeirishi.com Japan’s largest tax consultation portal site which has 526k visitors/month. 1. Tax Accountant introduction service Provide introduction service by experienced tax coordinators. They choose the best one for client from among 7,145 registered tax accountants. 2. Tax consultation service P
Slide 36: Trend in net sales
Trend in net sales Net sales remained steady; the contract unit price reached a record high. Although the number of contracts temporarily declined following changes in listing ad operation methods, it is expected to increase going forward. Trend in net sales （Mil.Yen） 356 347 329 326 331 322 312 300
Slide 37: Business Lawyers
BUSINESS LAWY © Bengo4.com, Inc. 2025
Slide 38: Business Lawyers
Business Lawyers Japan’s largest Corporate legal portal site which has 447k visitors/month. 1. Registered lawyers The lawyer who works in Nishimura & Asahi, Mori Hamada & Matsumoto, Nagashima Ohno & Tsunematsu, Anderson Mori & Tomotsune, TMI etc. 2. “Business Lawyers Library” Browse practical books
Slide 39: Business Lawyers Library also grows steadily
Business Lawyers Library also grows steadily The number of Business Lawyers users steadily increases. Reflecting the upselling, the number of companies that have implemented Business Lawyers Library was 1,880, and ARPPU rose. Trend in the users （monthly) Number of companies that have introduced Busi
Slide 40: Appendix
Appendix 39
Slide 41: Summary for FY3/2026 Q2
Summary for FY3/2026 Q2 Net sales increased 16.8% YoY. Operating profit rose 118% YoY. （Mil. Yen） FY3/2026 Q2 FY3/2025 Q2 FY3/2026 Q1 YoY QoQ Actual Actual Actual Net Sales 3,962 3,394 +16.8% 3,802 +4.2% CoGS 870 816 +6.5% 798 +8.9% Gross Profit 3,092 2,577 +20.0% 3,003 +3.0% SGA 2,518 2,313 +8.8% 2
Slide 42: Balance sheet
Balance sheet Net assets increased 362 million yen due to higher retained earnings. Equity ratio rose to 51.4%. (Mil. Yen) FY3/2026 Q2 FY3/2026 Q1 QoQ Current Assets 6,988 6,517 +470 Cash and equivalents 4,390 3,943 +446 Fixed Assets 4,797 4,762 +34 Total Assets 11,785 11,280 +504 Current Liabilitie
Slide 43: Corporate Profile
Corporate Profile Name Bengo4.com, Inc. Place 4-1-4 Roppongi, Minato-ku, Tokyo Date of establishment 4th Jul., 2005 Representative Director Taichiro Motoe Consolidated: 613, Employees Non-consolidated: 585 (As of September 30, 2025) Group companies LIC CO., Ltd ／ SMBC CLOUDSIGN, Inc. 42
Slide 44: Vision and Mission
VISION・MISSION VISION Drive a paradigm shift for the better world. Be the Professional-Tech Company. MISSION Do what only professionals can do. Contribute to society using professional knowledge and technologies. 43
Slide 45: Board Members
Board Members Representative Director, President and CEO Outside Director Taichiro Motoe Fumihiko Ishimaru Joined Anderson Mori & Tomotsune Foreign Law Joint Enterprise Representative Director of Accord Ventures, Inc. and subsequently founded Authense Law Office. Former executive officer of Digital
Slide 46: Corporate History
Corporate History Released “Legal Brain Agent” to support legal research work AI business 2025 Released CloudSign KANRI Released AI Enjo Checker Bengo Kakumei Inc., a Provider of Digital Case Recordkeeping 2024 Tools for Lawyers, Joined the Group Announced Legal Brain Initiative Released Bengoshi.co
Slide 47: Bengoshi.com
BENGOSHI.COM Bengoshi means lawyer 46
Slide 48: Social background of legal consulting services in Japan
Social background of legal consulting services in Japan 14.87 Million people had troubles / disputes over legal matters in a year. Only 28.1% of these people sought Lawyer’s advices. Reasons why they hesitated to ask professional’s help were: Concerns over professional fees 36.3%; / It’s a too minor
Slide 49: Background of lawyer's business in Japan
Background of lawyer’s business in Japan Environments of lawyer’s business has been changing rapidly since the judicial system reform in 2000, such as lifting of ban on advertisements, liberalization of fees, and new bar examination, which was meant to increase number of lawyers in Japan. Number of
Slide 50: Market Environment of the Legal Services Industry in Japan
Market Environment of the Legal Services Industry in Japan The legal services industry has been growing since 2000 due to progress in the development of new customers, as marketing needs for lawyers grow together with the increase in the actual number of lawyers. Legal services market size 25.6 mill
Slide 51: Value proposition of Bengoshi.com
Value proposition of Bengoshi.com A web-based platform for consumers and lawyers, to realize “familiar legal service”. Provides information and services about free legal consulting and detailed information about lawyers for consumers. Consumers Lawyers ・Hesitate to seek Want to reach out to ・Support
Slide 52: Why Bengoshi.com?
Why Bengoshi.com? The largest free legal consultation portal in Japan which has 6.45M visitors/month.* 1. Because the lawyer offers user legal advice for free on the internet service • The outstanding database which has over 1,459k records of consulting cases* 2. Because it has a substantial databas
Slide 53: Services of Bengoshi.com provides
Services of Bengoshi.com provides Provides each kind of contents according to seriousness of issues users have. Targets Contents provided Benefit for users Consumers who have urgent Users can search for the most appropriate “List of lawyers” matters and are willing to seek lawyer for free thanks to
Slide 54: Overview of marketing support service for lawyers
Overview of “marketing support service for lawyers” A marketing support service for lawyers, which helps them acquire clients • The number of visitors to the site has exceeded 10 million. • Acquiring potential clients efficiently based on the focus area of each lawyer Price 20,000 yen or more per mo
Slide 55: Overview of research support service for lawyers
Overview of “research support service for lawyers” Making lawyer book research more comfortable. • Monthly subscription service for law books • "Book browsing" "research service" functions can be used while working from home Price 9,000yen per month Number of books Over 3,700 books Participating pub
Slide 56: Overview of Services for Lawyers (Research Support)
Overview of Services for Lawyers (Research Support) Precedents database with by far the largest share in the industry • The usage rate of the precedents search service by lawyers is 95%. • Hanreihisho in particular is used by all judges and prosecutors, and is the dominant service among the three el
Slide 57: Overview of Services for Lawyers (Business Support)
Overview of Services for Lawyers (Business Support) Digital document organization tool developed by lawyers for lawyers • It supports transition of lawyers’ practice style to one that makes efficient use of digitalized documents. • Empowering Lawyers with the Power of Digital x AI • It supports the
Slide 58: Growth Cycle of Bengoshi.com
Growth Cycle of — Bengoshi.com Increased DB draws more visitors, which stimulates new registration of lawyers who seek to reach out expanded number of users. Lawyer’s action Databases grow Advice for consumers Counselling Register to the website Lawyer list Lawyers Consumers Consumer’s action Visit
Slide 59: CloudSign
CLOUDSIGN 58
Slide 60: Overview of CloudSign
Overview of CloudSign Cloud-based e-contracting service from contract conclusion to contract management. Upload a completed contract that has been negotiated and approved by the other party, and the contract is concluded. The recipient of the document does not need to be registered with CloudSign. U
Slide 61: Usage Image
Usage Image Sender Upload PDF documents Enter Destination Document preparation Send Receiver Sender・Receiver Receive by mail Contract confirmation Final step after conclusion of agreement and agreement The signed documents will be automatically e-mailed to the sender and receiver. (It is automatical
Slide 62: Documents used for CloudSign (examples)
Documents used for CloudSign (examples) Human Resources Sales Leases Employment contract Sales Contract Building Lease Agreement Working conditions notice Land purchase agreement Land Lease Agreement Offer of employment Building Sales Contract Parking Lot Rental Agreement Employment agreement Real e
Slide 63: Benefits of CloudSign
Benefits of CloudSign Speed up process Reduce cost Strengthening of compliance With CloudSign, contract signing Shipping cost, paper cost,printer No more losing/missing paper or process will be shorten by 1-2 ink cost, and stamp tax will no altering of contract. weeks, which boosts up upside of long
Slide 64: Price of CloudSign
Price of CloudSign Free Light Corporate Enterprise Fixed fee：0 JPY/Month Fixed fee：10,000 JPY/Mo nth Fixed fee：28,000 JPY/Mo nth Fixed fee：To be inquired Pay- per-use：0 JPY/Month Pay- per-use：200 JPY/Sending Pay- per-use：200 JPY/Sending Pay- per-use：200 JPY/Sending Plan contents Plan contents Plan c
Slide 65: Why CloudSign?
Why CloudSign? 1. Cloud contracting service offered by Bengoshi.com • Our Company, which has a deep understanding and knowledge of Japanese law, provides legally reliable products under the supervision of a lawyer. 2. Product development in line with Japanese business practices • In order to expand
Slide 66: CloudSign services
CloudSign services Conclusion of Automatic a contract conversion to data CloudSign Kanri CloudSign scan It facilitates contract management operations with AI, It handles the process from scanning contract which automatically identifies the counterparty to documents to storing documents and the contr
Slide 67: Business Lawyers
BUSINESS LAWY © Bengo4.com, Inc. 2025
Slide 68: Business Lawyers Library fee structure
Business Lawyers Library fee structure Business Lawyers Library, an all-you-can-read book service for corporate legal affairs. Light plan Standard plan Enterprise plan The plan enables an individual to conduct A standard plan that includes education he plan includes compliance training minimum resea
Slide 69: Status of introduction of Business Lawyers Library
Status of introduction of “ BUSINESS LAWYERS LIBRARY ” From the website of "BUSINESS LAWYERS LIBRARY” The service is used by mainly leading law offices and large companies. https://www.businesslawyers.jp/lib/about 68
Slide 70: Advertisement on the websites
Advertisement on the websites Advertising sales on the "Bengoshi.com" and "Zeirishi.com" websites, as well as advertising sales associated with the Business Lawyers conference. Website Conference Advetisements 69
Slide 71: Sustainability
SUS —FAINA © Bengo4.com, Inc. 2025 70
Slide 72: Basic Policy on Sustainability
Basic Policy on Sustainability Going forward, we will work together with all stakeholders Three Viewpoints to drive the creation of a sustainable society, by facing the resolution of social issues from three perspectives, and empowering society. 01 For General 02 For Professional 03 For Enterprise G
Slide 73: Material Issue Map
Material Issue Map Importance to society Access to and use of expert knowledge Response to Information security climate change and protection of privacy Advancing DX services and improving productivity Strengthening corporate Diversity and governance inclusion Training and creation of IT Corporate e
Slide 74: MSCI ESG Ratings
MSCI ESG Ratings Bengo4.com receives “BBB” rating from MSCI ESG Ratings Recognized for strong initiatives in "Information security and protection of privacy," a key material issue. The MSCI ESG Ratings,* issued by Morgan Stanley Capital International Inc. (MSCI), evaluate companies worldwide based o
Slide 75: Risk Information
RISK INFORMATION 74
Slide 76: Risk Information 1
Risk Information 1_ Risks identified as having the potential to materially impact future growth Degree of Item Major Risks Possibility/Timing Countermeasure Influence Bus iness Environment Rapid changes th at we do not an ticipate, a nd delays in respond ing to such chan ges, Medium/Medium Respondin
Slide 77: Risk Information 2
Risk Information 2_ Risks identified as having the potential to materially impact future growth Degree of Item Major Risks Possibility/Timing Countermeasure Influence The Grou p will use a variety o f As the G roup expands its business in the future , it will need to continua lly recruit and recruit
Slide 78: Warning
＜WARNING＞ This document is meant for explaining the company’s business itself and doesn’t mean any inducement or persuasion for buying stocks or/and bonds of the company. This document include descriptions about prospects for future which are based on information available as of today, and actual si