Gmo Internet Group, Inc. · TSE:9449
Gmo Internet — Q2 2025 Earnings Presentation
122 slides from Gmo Internet's earnings presentation, Aug 12, 2025
Slide 1: Fiscal Year 2025 Second Quarter Results Presentation
Fiscal Year 2025 Second Quarter Results Presentation STOCK CODE: 9449 August 12, 2025 1
Slide 2: Agenda
1. Strategic Highlights and Summary 2. " Internet Security for Everyone " Project 3. Segment Performance & Shareholder Returns i) Group Overview ii) Performance by Segment iii) Shareholder Returns 2
Slide 3: Strategic Highlights and Summary
Strategic Highlights and Summary Become a group that will continue to thrive over the next century by thoroughly implementing long-term management. Progress in initiatives toward further evolution of the group structure. In Q2 FY2025, operating profit reached JPY 15.2 billion, marking a second conse
Slide 4: Strategic Highlights and Summary: Q2 FY2025 (Apr-Jun)
Strategic Highlights and Summary: Q2 FY2025 (Apr-Jun) Strong performance in infrastructure and financial segments, delivering operating profit at a record high level. Q2’24 Q2’25 YoY ( JPY billions ) Change (Apr-Jun) (Apr-Jun) Change Net Sales 67.6 71.0 +3.3 +5.0% Operating Profit 9.5 15.2 +5.6 +58.
Slide 5: Strategic Highlights and Summary: Q2 FY2025 (Jan-Jun)
Strategic Highlights and Summary: Q2 FY2025 (Jan-Jun) At the end of the first half, revenue reached an all time high and operating profit approached JPY 30 billion. Q2’24 Q2’25 YoY ( JPY billions ) Change (Jan-Jun) (Jan-Jun) Change 142.5 Record Net Sales 136.4 +6.0 +4.4% high Operating Profit 24.0 2
Slide 6: Strategic Highlights and Summary: Q2 FY2025 Evaluation
Strategic Highlights and Summary: Q2 FY2025 Evaluation Q2 Q1 Record high Net sales JPY 42.7B (Up 6.0％ YoY) Strong performance in both payment and Internet non-payment businesses. OP JPY 9.9B " " " " Infrastructure (Up 11.5％ YoY) Achieved record quarterly performance while absorbing upfront investmen
Slide 7: Strategic Highlights and Summary: Q2 FY2025
Strategic Highlights and Summary: Q2 FY2025 Net sales Operating Profit Up 3.3B YoY Up 5.6B YoY +0.5 71.0 ( JPY billions ) ( JPY billions ) +0.5 +0.2 +0 +5.3 +0 +2.4 +0 15.2 ▲0.3 ▲0 ▲0.1 ▲0.3 67.6 +1.0 9.5 ▲0.3 Q2’ Infra Crypto Q2’ Q2’ Infra Crypto Q2’ Security Finance Ad VC Other Security Finance Ad
Slide 8: Q2 FY2025 Revenue Growth Ranking
Q2 FY2025 Revenue Growth Ranking * New growth drivers emerging to support sustainable mid to long term expansion. Revenue Growth Business Business Relationship Rank Name Listing Status Rate (YoY) Segment Description with GMO IG Joined the 1 61% Countermeasures Security against cyberattacks Unlisted
Slide 9: Record-high profit, excluding VC investments
* Operating Profit（excluding VC investments） （JPY billions） Record high Record-high profit, 14.6 15.8 excluding VC investments 13.9 12.4 12.5 12.0 10.8 10.8 10.6 10.2 9.8 9.7 9.6 9.6 9.5 7.8 8.1 8.0 7.1 6.1 5.6 5.9 * VC Investments (Incubation Business) Excluding VC Investments (Incubation Business)
Slide 10: Agenda
1. Strategic Highlights and Summary 2. " Internet Security for Everyone " Project 3. Segment Performance & Shareholder Returns i) Group Overview ii) Performance by Segment iii) Shareholder Returns 10
Slide 11: A safer future for Everyone
Internet Security Providing Comprehensive Internet Security Services A safer future for Everyone Protection against Countermeasures against Monitoring and Takedown eavesdropping, tampering, cyberattacks. Support for Impersonation. impersonation. （Cyber security） (Brand security) (Cryptographic Secur
Slide 12: Internet Security | Three Key Areas
Internet Security | Three Key Areas Cryptographic Security Cyber Security Brand Security Operating Companies Services and Products Vulnerability Assessment and Penetration Testing Te c h n i c a l a n d Expertise in managing Key Advanced skills of white - operational expertise as intellectual proper
Slide 13: Internet Security | Full-Year Revenue by Segment
Internet Security｜Full-Year Revenue by Segment （JPY billions） 19.4 18.5 2.8 Brand 4.0 security 4.7 Cyber Growth accelerated, driven primarily by our newly 13.1 1.6 3.8 security 2.1 launched Cybersecurity 1.3 1.4 Cryptographic business. 11.8 9.2 10.6 Security 6.9 7.5 Impersonation Monitoring and Take
Slide 14: 'Internet Security for Everyone' project
'Internet Security for Everyone' project Internet Security for Everyone A Safe Future for Everyone. 14
Slide 15: 'Internet Security for Everyone' project
'Internet Security for Everyone' project Ongoing initiatives to establish top-of-mind brand recognition Phase1 From Feb. 2025 Phase3 From May 12. 2025 Phase4 From July 8. 2025 Phase6 2025年7月29日〜 Comprehensive internet security services Launch support services for the application Launch opensource de
Slide 16: Phase3 'Internet Security for Everyone' project
Phase3 ‘Internet Security for Everyone’ project Launch of the “GMO ‘.yourbrand’ Application and Operation Support Service” (from May 12, 2025) * https://group.gmo/security/yourbrand/ 16
Slide 17: Phase4 'Internet Security for Everyone' project
Phase4 ‘Internet Security for Everyone’ project Provide leading security AI free of charge to open-source developers supporting the Internet (from July 8, 2025) * https://group.gmo/security/oss-support/ 17
Slide 18: Phase6 'Internet Security for Everyone' project
Phase6 'Internet Security for Everyone’ project Visualize unauthorized access risks seamlessly from physical space to cyberspace (from July 29, 2025) Commemorative photo taken after the press conference 18
Slide 19: 'Internet Security for Everyone' project - Phase7
F BRRAROALORT1492 AYIFLYA ‘Internet Security for Everyone’ project - Phase7 [Main Speakers a , AL-ONT¢IAASH REN > ai iad ' \ 4 Takeshi Natsuno Masataka Osaki Tetsuya Ogata ON cl y eand n Country manager eld Takumi Usui Shunsuke Ono Issei Yamamoto Matsui Ken Michikusa, Inc a L Turing inc. : tugo, in.
Slide 20: Expanding Customer Base and New Strategic Focus Areas
Expanding Customer Base and New Strategic Focus Areas Delivering a wide range of indispensable and enduring value positioning security as a mid- to long- term growth driver. New Foundations Existing business AI x Robotics ( Focus Area ) Security Payment Support for Access online shops Cloud/rental s
Slide 21: Agenda
1. Strategic Highlights and Summary 2. "Internet Security for Everyone" Project 3. Segment Performance & Shareholder Returns i) Group Overview ii) Performance by Segment iii) Shareholder Returns 21
Slide 22: Our group serves a customer base of 17.42 million
Our group of businesses serves a customer base of 17.42 million 22 Services as of end-May 2025
Slide 23: Net Sales by Segment
Net Sales by Segment Changes in rules to record the revenues* 71.3 71.5 71.0 69.4 69.6 Revenue up 68.8 67.6 (JPY billions) 65.5 66.0 2.1 1.7 64.6 64.4 1.5 3.5 2.3 61.2 62.5 62.5 1.4 1.7 5.0% 1.2 59.2 4.3 12.8 0.9 0.9 10.4 11.4 2.0 12.6 9.2 56.4 57.5 10.9 6.8 10.8 56.0 11.6 53.6 52.8 5.7 0.7 12.7 53.
Slide 24: Profit by Segment
Profit by Segment 19.81 (JPY billions) Profit Up 15.20 14.43 0.40 14.56 58.8％ 0.54 0.95 12.47 12.85 12.38 10.82 11.81 4.68 0.08 3.37 10.99 0.22 11.12 3.52 10.53 2.55 1.83 0.15 9.57 4.02 10.14 9.62 9.46 3.30 0.81 0.38 0.65 1.24 YoY 0.43 1.13 0.21 3.76 0.83 0.76 8.13 3.65 0.40 0.33 0.44 8.28 2.34 8.01
Slide 25: Agenda
1. Strategic Highlights and Summary 2. "Internet Security for Everyone" Project 3. Segment Performance & Shareholder Returns i) Group Overview ii) Performance by Segment iii) Shareholder Returns 25
Slide 26: Internet Infrastructure | Net Sales by Sub-Segment
Internet Infrastructure | Net Sales by Sub-Segment Changes in rules to 42.6 42.7 record the revenues*1 41.7 41.7 Record 0.7 0.7 high (JPY billions) 40.2 40.3 0.7 0.6 Revenue up 38.6 38.2 0.7 0.7 37.2 0.6 0.5 37.9 36.4 0.5 0.7 34.5 0.8 6.0％ 33.1 33.3 0.5 31.8 32.5 32.2 32.0 0.6 31.5 31.6 0.6 30.7 0.6
Slide 27: Internet Infrastructure | Operating Profit
Internet Infrastructure | Operating Profit 9.93 Record 9.72 high (JPY billions) 8.72 8.91 8.77 Revenue up 11.5％ 7.94 7.56 6.24 5.91 5.55 5.65 5.32 5.46 4.29 4.46 4.76 4.97 4.53 YoY 3.80 3.68 3.78 3.45 Record-high profit achieved while absorbing upfront investments Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Slide 28: Internet Infrastructure | GMO GPU Cloud business progress
Internet Infrastructure | GMO GPU Cloud business progress Plan to offer NVIDIA B300 in Japan ahead of all competitors 28
Slide 29: Internet Security | Net Sales by Segment
Internet Security | Net Sales by Segment Changes in rules to (JPY billions) record the revenues* 6.1 5.6 5.2 5.1 Revenue up 4.9％ 2.1 4.9 1.0 0.3 4.7 4.5 0.8 0.3 4.3 0.7 1.0 4.0 0.3 3.8 1.6 3.6 1.4 YoY 0.7 1.2 3.3 0.7 1.2 3.2 0.3 1.0 0.8 1.1 0.2 1.4 0.2 2.7 0.7 0.7 2.6 0.7 0.6 0.8 Cybersecurity grew
Slide 30: Internet Security | Operating Profit
Internet Security | Operating Profit (JPY billions) Profit down 1.95 0.3B YoY A major contract in brand 0.58 0.56 0.69 0.64 0.60 security was recorded in the previous year. 0.52 0.40 0.44 0.38 0.34 0.33 0.25 0.29 0.24 0.21 0.16 0.13 Currently undertaking upfront investments in cybersecurity. -0.01 -
Slide 31: Online Advertising & Media | Net Sales
Online Advertising & Media | Net Sales Changes in rules to (JPY billions) record the revenues* 13.7 Revenue down 4.5% 13.7 12.8 12.3 12.4 12.1 11.4 10.7 8.6 8.7 9.1 9.0 9.2 8.7 8.8 9.0 9.3 8.7 8.5 9.4 9.4 YoY 9.6 8.3 8.3 8.0 Shift from flow-based to 8.5 8.6 7.7 3.9 3.5 8.1 4.2 stock-based products 7
Slide 32: Online Advertising & Media | Operating Profit
Online Advertising & Media | Operating Profit (JPY billions) 1.13 0.96 0.81 0.77 0.83 0.76 0.80 0.81 Profit down 14.3% 0.64 0.65 0.57 0.54 0.46 0.43 YoY 0.35 0.19 0.01 0.03 -0.07 -0.13 -0.14 -0.20 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 20 21 22 23 24 25 32
Slide 33: Internet Finance | Historical Performance by Quarter
Internet Finance | Historical Performance by Quarter 12.7 12.6 12.2 11.6 Revenue up (JPY billions) 11.3 11.3 11.4 10.7 10.9 10.8 10.3 10.5 10.4 5.4% YoY 10.0 9.1 9.0 9.2 8.2 7.3 6.9 6.5 Profit up 6.0 5.3B YoY Net Sales 4.68 3.81 3.85 3.65 3.76 3.83 3.60 3.52 OP 3.39 3.10 3.30 3.37 2.62 2.97 2.68 2.5
Slide 34: Internet Finance | Net sales by each product
Internet Finance | Net sales by each product (JPY millions) Revenue up 17.5％ YoY *1 FX 1,926 2,432 2,485 Revenue down 2.1％ YoY 2,302 *2 2,369 CFD Both FX and CFD businesses 1,127 8,185 7,488 5,946 6,375 performing steadily 4,873 3,754 Securities and others CFDs / Stock Index Binary Options *2 OTC-FX
Slide 35: Internet Finance | FX net sales and trading volume
Internet Finance | FX net sales and trading volume 840 836 616 533 Both trading volume and revenue 339 288 remained at high levels. 8,185 7,488 6,375 5,946 4,873 3,754 ■ Net sales of OTC-FX/binary options (JPY millions) ■ FX Trading volume (JPY trillions)* Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q
Slide 36: Cryptoassets business | Historical Performance by Quarter
Cryptoassets business | Historical Performance by Quarter (JPY billions) 6.8 Revenue down 3.0% YoY 5.7 4.3 3.6 3.5 2.7 Profit up 5.3% YoY 2.3 2.0 2.0 2.1 1.6 4.02 1.7 1.7 Net 1.4 1.4 1.5 1.2 1.2 Sales 2.34 0.9 0.9 0.8 0.7 1.83 1.48 1.24 0.95 OP 0.42 0.38 0.21 0.15 0.71 0.08 0.38 0.22 0.54 0.40 -0.26
Slide 37: GMO AOZORA NET BANK
GMO AOZORA NET BANK GMO 37
Slide 38: Full-year results trends
Full-year results trends Revenue up 3 （JPY billions ） 2 63% YoY 1 Profit up 0.7B YoY *1 Sales 0 *2 Operating Growth in transaction revenue profit -1 driven by an increase in the number of accounts -2 *3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 *1 Ordinary income (banking business) – Total income fr
Slide 39: Net Bank | Business KPI Status
Net Bank | Business KPI Status Customer base expanding steadily *1 Number of business accounts BaaS by GMO Aozora （Thousand Companies） （Number of Contracts） 876 Up 41.5％ YoY Up 29.0％ YoY 201 679 142 506 89 322 47 158 23 59 10 *2 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2
Slide 40: Net Bank | Deposit balance
Net Bank | Deposit balance （ JPY billions ） 1,029 Achieved * JPY 1 trillion Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 20 21 22 23 24 25 * Fiscal year refers to our accounting period ending in December 40
Slide 41: Agenda
1. Strategic Highlights and Summary 2. "Internet Security for Everyone" Project 3. Segment Performance & Shareholder Returns i) Group Overview ii) Performance by Segment iii) Shareholder Returns 41
Slide 42: Shareholder Returns | Policy
Shareholder Returns | Policy Total Shareholder Dividend Payout Ratio Share Buyback Returns Ratio 50% Over 33% 17% Net profit at end of fiscal Quarterly dividend year to form basis of buyback in following year 42
Slide 43: Shareholder Returns | Dividend per share
Shareholder Returns | Dividend per share ( JPY ) 52.7 12.6 47.6 44.1 Based on our policy, 41.8 dividend payout ratio is a minimum 14.2 10.0 30.8 10.8 28.0 10.6 12.2 10.2 7.7 16.8 of 33% 6.9 7.4 7.5 ■ Q4 ■ Q3 6.2 19.6 ■ Q2 17.1 17.2 17.6 12.2 ■ Q1 6.6 20 21 22 23 24 25 43
Slide 44: Shareholder Returns | acquisition of treasury stock
Shareholder Returns | acquisition of treasury stock Progressing Smoothly Progress Planned (as of the end of July) JPY 10.0B 8.9B Total cost of share acquisition * 2.92M shares Total number of shares to be acquired 4.6M shares * *Both are at the upper limit. The acquired treasury shares are scheduled
Slide 45: Internet for Everyone
Internet for Everyone GMO
Slide 46: Third Quarter earnings date and disclaimer
Third We are planning on making an earnings announcement for FY2025 Third Quarter after 3:31 pm on November 13, 2025. This document includes projections based on expectations, premises and plans as of August 12, 2025. These projections may differ from actual results due to factors including changes
Slide 47: Appendix
Appendix 47
Slide 48: Group Overview
Group Overview Financial condition and strategy Consolidated results Topics ESG activities 48
Slide 49: Group Overview
Group Overview Company Name GMO Internet Group, Inc. Founder, Chairman Masatoshi Kumagai and Group CEO Address (Group Head Office) Cerulean Tower 26-1 Sakuragaokacho, Shibuya-ku Tokyo (The 2nd Group Head Office) SHIBUYA FUKURAS1-2-3 Dogenzaka, Shibuya-ku, Tokyo Established May 24, 1991 Stock Listing
Slide 50: Operating companies (1/2)
Operating companies(1/2) As of the end of March 2025 GMO I GMO-GSHD （4784） （3788） GMO-PG GMO-FG Security Internet （3769） （4051） Other Infrastructure GMO-PB （3633） Other GMO-I：GMO Internet GMO-PG：GMO PAYMENT GATEWAY GMO-FG：GMO FINANCIAL GATE GMO-GSHD：GMO GlobalSignHD GMO-PB：GMO PEPABO Listed subsidia
Slide 51: Operating companies (2/2)
Operating companies(2/2) As of the end of March 2025 GMO CLICK Securities GMO-I (4784) GMO-FH Internet Finance (7177) GMO-TE GMO Gaika (6026) Internet Advertising and GMO-ME GMO Coin Media (6180) GMO-FH Cryptoasset （7177） GMO-RE Other (3695) Other Incubation Other GMO-TE：GMO TECH GMO-ME：GMO MEDIA GM
Slide 52: Internet services operations
Internet services operations As of the end of March 2025 GMO-I(4784) GMO-PB (3633) E-commerce solutions Domain GMO-PB (3633) Other Others GMO-PG (3769) Payment GMO-FG (4051) GMO-I(4784) Others Cloud and Rental GMO-GSHD (3788) Server (Hosting) Business GMO-PB (3633) Provider GMO-I(4784) Other Listed
Slide 53: Our Strengths for Sustainable Growth
Our Strengths for Sustainable Growth 53
Slide 54: Our Strengths for Sustainable Growth
Our Strengths for Sustainable Growth 1. Independent management 2. Operations and development of our own technology 3. Solid recurring revenue 54
Slide 55: 1. Independent management
1. Independent management Each group company pursues the No. 1 strategy under the “GMO-ism” and creates growth products. As a result, our group with diversified risk management strategy. 55
Slide 56: 2. Operations and development of our own technology
2. Operations and development of our own technology Engineers & Creators ratio *2 Limited to hiring Advanced and AI Talent 7,546 7,565 7,497 7,505 7,438 7,431 7,525 7,317 7,361 7,393 7,396 7,213 7,042 7,133 6,767 6,782 6,554 6,180 6,272 6,012 5,958 6,048 49.9% 50.6% Goal: Workforce of over 50.0% 46.
Slide 57: 3. Solid recurring revenue
3. Solid recurring revenue That means our core business policies, Indispensable products that will not disappear With recurring revenue business model 57
Slide 58: Consolidated Net Sales
Consolidated Net Sales (JPY billions) Changes in rules to 277.4 record the revenues* Sustainable growth 9.1 * "Accounting standards related to revenue recognition" ( accounting standard No. 29 ) 00 02 04 06 08 10 12 14 16 18 20 22 24 58
Slide 59: 3. Solid recurring revenues
3. Solid recurring revenues Both unit price and number of contracts increased, leading to expansion. Unit price Solid recurring revenue 1.6times × Number of contracts 2.8times Solid recurring revenue Other revenue 1.7times 16 17 18 19 20 21 22 23 24 * The combined value of stock and transaction reve
Slide 60: Internet Infrastructure | Contracts
Internet Infrastructure | Contracts (millions) ＋2.36 ▲0.48 +0.6 +0.6 Solid recurring ▲0.05 *2 revenues base 15.06 15.18 14.56 14.61 14.58 14.29 13.74 14.58M 13.26 12.70 12.17 12.29 12.15 12.27 12.10 12.02 11.77 11.43 11.55 11.47 11.44 11.52 11.50 customers Increased contracts 0.48M YoY Q1 Q2 Q3 Q4 Q
Slide 61: Our response to social trends
Our response to social trends Adoption of Cloud Spread of AI Megatrends Acceleration of DX Computing Robotics and Emerging Trends Promoting a paperless Strengthening of data Growing threat of Widespread of environment privacy regulations cyber crime Cashless Payment Security Cloud/rental server Sele
Slide 62: Listed Group Companies | Market Cap and Equity Share
Listed Group Companies | Market Cap and Equity Share Market Cap*1 Equity Share Stock Code Company Name Exchange % Ownership*2 ( JPY billions ) ( JPY billions ) 9449 GMO Internet Group Prime 429.1 *3 4784 GMO Internet Prime 431.0 94.4% 407.0 3769 GMO Payment Gateway Prime 653.7 40.7% 266.1 7177 GMO F
Slide 63: Shareholder Returns | Shareholder Return Performance
Shareholder Returns｜Shareholder Return Performance 145.3% 107.8% 83.2% Revised shareholder benefits, focusing on profit returns through dividends and share 14.41 57.3% 59.0% buybacks. 49.9% 12.11 Total payout ratio is expected to reach 8.55 10.03 8.37 10.00 108％ 4.25 9.36 6.59 3.68 5.16 1.50 5.78 5.
Slide 64: Group Overview
Group Overview Financial condition and strategy Consolidated results Topics ESG activities 64
Slide 65: Consolidated Cost Composition
Consolidated Cost Composition (JPY millions) 65,000 60,000 55,000 Human resources 14,805 12,994 50,000 14,044 13,856 Advertising and promotion 13,193 45,000 Depreciation and leases 3,351 3,190 3,251 3,186 40,000 3,544 3,636 Outsourcing costs 3,564 1,949 3,677 4,086 5,374 5,814 5,485 35,000 Communica
Slide 66: Consolidated Balance Sheets
Consolidated Balance Sheets GMO GMO End of End of (JPY millions) Changes Financial HD Internet Group 12/24 6/2025 (End of 6/25) (End of 6/2025) Current Assets 1,945,899 1,894,250 -51,649 1,328,352 158,738 Cash & Deposits 469,168 457,457 -11,710 116,489 106,285 Fixed Assets 205,215 201,233 -3,981 37,
Slide 67: Consolidated Statement of income
Consolidated Statement of income Q2'24 Q2'25 supplementary (JPY millions) Changes (1-6/2024) (1-6/2025) information Net Sales 136,480 142,551 4.4% Gross Profit on Sales 81,481 85,728 5.2% Operating Income 24,010 29,768 24.0% （OP Margin） 17.6% 20.9% +3.3pt Non Operating Profit and Loss 1,227 -1,446 -
Slide 68: Financial Strategy
Financial Strategy ・Avoid excessive risk-taking, considering balance of Shareholders equity ・Aiming to Equity balance, 100 Billion yen. Asset management Procurement ①Business All investments are subjected to our Risk management policy ①Multiple ways Agile procurement investment which up to 2/3 of Eq
Slide 69: Financial Strategy | Procurement① Multi ways of financing
Financial Strategy｜Procurement① Multi ways of financing • Continuous procurement helps growth capital ensured. The way to procure Totall Interest-bearing debt Direct Indirect （JPY 100M） FY22 FY23 FY24 Domestic Total 3,911 4,735 5,548 Debt finance Corporate Bonds Corporate 717 1,312 1,419 Individual
Slide 70: Financial Strategy | Procurement②③ Lengthening term, Fixed interest rate
Financial Strategy｜Procurement②③ Lengthening term・Fixed interest rate • Aiming to build a strong financial base Debt balance average term Fixed interest rate ratio （Year） FY22 FY23 FY24 （%） FY22 FY23 FY24 Corporate bond 3.9 3.5 2.9 Corporate bond 100.0 100.0 100.0 Debt finance Debt finance 3.8 3.6 4
Slide 71: Financial Strategy | Asset management② Cash on hand
Financial Strategy｜Asset management②Cash on hand • Keeping enough repayment cash(the amount for debt financing repayment next year and for corporate bond’s repayment next 2 years) （100M Yen） FY22 FY23 FY24 cash and cash equivalents 3,222 3,889 4,665 Balance of interest debt within 793 1,106 1,904 3Y
Slide 72: Others | Credit rating
Others｜Credit rating Strategy • Plan to maintain current rating and aiming to be upgraded. • Having conversation with R&I before-hand, when decision making on a huge investment to be carried out. Current situation Rating agency Issuer Rating JCR A-(Stable) R&I BBB+(Stable) 72
Slide 73: Group Overview
Group Overview Financial condition and strategy Consolidated results Topics ESG activities 73
Slide 74: Global Operations | Global Net Sales
Global Operations | Global Net Sales (JPY billions) 11.0% 9.2% 8.2% 7.4% 8.4% Net sales 7.42 Global 5.5% YoY Sales Ratio 5.93 5.98 5.12 4.84 Net Sales 2.86 19.4% Down Since Q2 FY2020, MacroKiosk is no longer a consolidated subsidiary. We deducted MacroKiosk values from net sales retroactively to Q1
Slide 75: Internet Infrastructure
Internet Infrastructure 75 75
Slide 76: Internet Infrastructure | Breakdown of Operating Profit
Internet Infrastructure | Breakdown of Operating Profit (JPY billions) YoY 18.6%Up 8.05 6.79 5.58 4.38 3.12 3.63 YoY 5.1%Down 2.78 2.64 1.57 1.50 1.58 1.18 -0.40 -0.38 -0.64 -0.66 -0.85 -0.76 Payment business Except payment business Cost allocation Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
Slide 77: Internet Infrastructure | Provider - KPIs
Internet Infrastructure | Provider - KPIs Revenue Subscriptions (JPY millions) (thousands) Focusing on our in-house product, resulting in a stable trend in the Changes in rules to number of lines record the revenues* 10,524 10,593 10,191 10,151 2,262 2,271 2,243 2,213 2,184 9,806 9,606 2,087 Q1 Q2 Q
Slide 78: Internet Infrastructure | Provider - KPIs (number of lines)
Internet Infrastructure | Provider - KPIs（number of lines) etc Optical line Mobile+Others Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 *Mobile and others indicated combined after FY23Q3 2020 2021 2022 2023 2024 2025 78
Slide 79: Internet Infrastructure | Domain Registration - KPIs
Internet Infrastructure | Domain Registration - KPIs Revenue Contracts (JPY millions) (thousands) Strong demands Changes in rules to In overseas record the revenues* and domestic 2,872 10,016 2,611 9,555 2,388 2,244 2,144 2,180 7,585 6,920 7,084 6,573 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Slide 80: Internet Infrastructure | Domain business
Internet Infrastructure | Domain business ②2009〜 Registry (wholesale) ①1999〜 ③2012〜 Registrar (registration/sale) Japan Overseas 80
Slide 81: Internet Infrastructure | Domain business contracts progress
Internet Infrastructure | Domain business contracts progress Favorable demands in (thousands) domestic and overseas 3,448 3,121 1,795 Renewal rate: 73.0%* 1,161 957 656 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2020 2021 2022 2023 2024 2025 From FY24.Q3, the renewal rate calc
Slide 82: Internet Infrastructure | Hosting & Cloud - KPIs
Internet Infrastructure | Hosting & Cloud - KPIs Revenue Contracts (JPY millions) (thousands) Changes in rules to record the revenues* 5,564 5,413 1,115 1,114 1,115 1,095 5,048 1,025 4,569 917 3,946 3,726 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Slide 83: Group synergies case ASP shopping cart × payment
Group synergies case ASP shopping cart × payment Recurring revenue and transaction revenue through a natural cross-selling Feature Online store Payment Service Business model Recurring Transaction Revenue Number of stores x unit price GMV x commission rate, etc. Reportable segments Ecommerce Solutio
Slide 84: Internet Infrastructure | Ecommerce solutions - KPIs
Internet Infrastructure | Ecommerce solutions - KPIs Revenue Contracts (ASP shopping cart) (JPY millions) (thousands) Other Transaction revenue (minne・SUZURI) Recurring revenue (ASP shopping cart) Despite of the ongoing downward trends, the number Changes in rules to of high-priced plans are record
Slide 85: Internet Infrastructure | Ecommerce Solutions: transaction volume
Internet Infrastructure | Ecommerce Solutions: transaction volume ( JPY billion ) 141 YoY 132 128 128 118 4.9% UP 85 137 127 122 120 113 80 Freenance SUZURI, Canvath minne Ecommerce Platform Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 20 21 22 23 24 25 85
Slide 86: Internet Infrastructure | Payment processing - Our Role
Internet Infrastructure | Payment processing -Our Role Connecting merchants and payment companies through ‘contracts,’ ‘payment information,’ and ‘money flow’. Consumer Merchant GMO-PG consolidated Payment subsidiaries Companies 164,276 stores*1 40+ Credit card (As of end-Mar 2025) companies EC Conv
Slide 87: Internet Infrastructure | Payment Quarterly KPIs
Internet Infrastructure | Payment Quarterly KPIs Group-wide annual TRX value reaches approx. ¥21.3 trillion in the past 12 months Operating TRX volume*2*3 TRX value*2 Stores*1/Terminals*2 GMO:FY2025.Q2 GMO:FY2025.Q2 GMO:FY2025.Q2 Past 12-month Past 12-month PG:FY2025.Q3 PG:FY2025.Q3 PG:FY2025.Q3 - 2
Slide 88: Security
Security 88 88
Slide 89: Internet Infrastructure | Number of contracts
Internet Infrastructure | Number of contracts ( millions ) 5.04M 30.6%UP 3.86 Number of contracts YoY 2.47 No.1 1.21 0.54 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 20 21 22 23 24 25 89
Slide 90: Internet Infrastructure | ARR (Annual Recurring Revenue)
Internet Infrastructure | ARR (Annual Recurring Revenue)* (JPY billions) 1.83 1.29 0.95 42.0%UP YoY * Calculated by multiplying the total monthly fees at the end of each Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 quarter by twelve (excluding one-time revenues). 22 23 24 25 90
Slide 91: Countermeasures against cyberattacks business | Achievements
Countermeasures against cyberattacks business | Achievements Cyber Security Assessment More than 12,600 cases More than 150 World's Largest No.1 No.1 white hat No.1 largest hackers contest in contest enrolled Japan two years in a row *1:Based on our survey *2:HTB Business CTF 2024: No.1 in Japan *:3
Slide 92: Countermeasures against cyberattacks business | Service usage
Countermeasures against cyberattacks business | Service usage 92
Slide 93: Countermeasures against cyberattacks business | Mid- to long-term growth
Countermeasures against cyberattacks business | Mid- to long-term growth Expand the business scale by using the customer base and introducing SaaS products SaaS products Using the the customer base Existing business 93
Slide 94: Internet Infrastructure & Security | Collection of No. 1 services
Internet Infrastructure & Security| Collection of No. 1 services Domestic market share at 83.0 Strong No. 1 Domain Registry % ＊1 Domestic market share at Domain Registrar 83.2 Strong No. 1 % ＊2 Domestic market share at No. 1 Hosting & Cloud 61.4 % ＊3 No. 1 ASP Cart 45K paid stores Domestic market sh
Slide 95: 'Internet Security for Everyone' project Phase1 'GMO Security 24'
'Internet Security for Everyone' project Phase1'GMO Security 24 Free 24/7 access to password leak checks, web risk assessments, and AI-powered security consultations * https://www.gmo.jp/security/ 95
Slide 96: 'Internet Security by GMO' Project - Phase 2 Conference
“Internet Security by GMO” Project - Phase 2 GMO S4N-CFWT4 KB REN | ‘Cybersecurity Conference & Awards Ceremony 2025 Main speakers yy Yutaka Matsuo Masaaki Taira Shigeru Ishiba Jiro Hiroe Takayuki Furuta The University of Tokyo, graduate Government of Japan Minister in Government of Japan Japan grou
Slide 97: Internet Finance
Internet Finance 97 97
Slide 98: Internet Finance | Domestic FX volume and share transition
Internet Finance | Domestic FX volume and share transition Domestic trading volume Domestic share (Sum of 3 companies *1 (Sum of 3 companies) （JPY trillion） Q2’25 Trading Volume Share: 21.5 % Share rebounding moderately after strategy shift *This information is prepared by GMO-FH accordance with a “
Slide 99: Internet Finance | CFD transaction and revenue transition
Internet Finance | CFD transaction and revenue transition ■Transaction （JPY trillion） ■Revenue (JPY million） Transaction volume YoY 59.8 %UP Profit YoY 2.4% DOWN YoY Growth in Trading Value Revenue Declined Due to Spread Compression. Higher Trading Activity YoY; Revenue Impacted by Tighter Spreads.
Slide 100: Internet Finance | FX Business Model
Internet Finance | FX Business Model • Effective matching and thorough risk minimization with cover transactions executed with counter parties as soon as customer orders exceed acceptable risk position. GMO CLICK Securities Cover the client transactions that exceed acceptable limits ● ● ● Cover orde
Slide 101: Cryptoasset
Cryptoasset 101 101
Slide 102: Cryptoasset Business
Cryptoasset Business Mining Mining Business Crypto Exchange Exchange business asset Payment Payment business ┗ Issuing Stablecoin 102
Slide 103: Cryptoasset Exchange Business | Trading volume
Cryptoasset Exchange Business｜Trading volume (JPY Billion) YoY 4.4%UP QoQ decrease due to exceptional activity driven by Bitcoin’s all-time high in the previous quarter. Modest YoY growth maintained. * Prepared based on GMO-Financial Holdings presentation materials 103
Slide 104: Cryptoasset Exchange Business | Accounts and deposit asset transition
Cryptoasset Exchange Business | Accounts and deposit asset transition ■Client Asset under Custody ■Crypto-asset accounts (JPY billion) (1K accounts) Accounts YoY 98 K UP Deposit Asset YoY 62.8%UP * Prepared based on GMO-Financial Holdings presentation materials 104
Slide 105: Cryptoassets Exchange | Business model
Cryptoassets Exchange | Business model OTC Trading Exchange Trading Hedging counter part positions Offering the order matching by cover order platform Liquidity Provider Customer Broker Trading Cover order Trading BUY Exchange SELL Main income：Spreads Main income：Transaction fee （buy and sell spread
Slide 106: GMO Aozora Net Bank
GMO Aozora Net Bank 106
Slide 107: Net Bank: Bank × IT
Net Bank Bank×IT Born in July 2018 Banking management know-how Technology 107
Slide 108: Net Bank: Focus on corporate clients
Net Bank Point1 Focus on corporate clients The core business : Point2 Exchange, Debit cards, and business loans Point3 Bank System＋Bank API＋In-house development BaaS by GMO Aozora Point4 Approximately 40% of employees are engineers 108
Slide 109: Net Bank | Business KPI Status
Net Bank | Business KPI Status Customer base expanding steadily *2 Number of business accounts BaaS by GMO Aozora （Thousand Companies） （Number of Contracts） 876 201 Up 41.5％ YoY Up 29.0％ YoY 679 142 506 89 322 47 158 23 59 10 *1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2
Slide 110: Net Bank | Mid-to-Long-Term Strategy
Net Bank | Mid-to-Long-Term Strategy No changes to the three goals 1 No.1 Bank for Small & Startup Businesses 2 No.1 Embedded Finance 3 No.1 Tech-First Bank 110
Slide 111: Group Overview
Group Overview Financial condition and strategy Consolidated results Topics ESG activities 111
Slide 112: Topics
—* Becoming the No.1 Corporate Grou Pioneering the Future with Al . 112
Slide 113: Our initiatives towards realization (1/2)
Our initiatives towards realization （1/2） Driving research and development in AI, particularly in financial data analysis, and achieved significant results since hiring our first data scientist approximately 10 years ago. GMO NIKKO has built and analyzed big data analytics(DMP)infrastructure FY2013
Slide 114: Our initiatives towards realization (2/2)
Our initiatives towards realization （2/2） We promptly began utilizing ChatGPT across the entire group, expecting its potential impact after the emergence of it in November 2022. ①Time and Cost savings ②Improvement in the quality of existing services ③Offering new services to the AI Industry Based on
Slide 115: GMO-AIR Co.Ltd | Business Model
GMO-AIR Co.Ltd | Business Model Aiming of a lean, High-performance Organization that fully utilizes AI 115
Slide 116: GMO AIR | Labor as a Service (Humanoid Rental)
GMO AIR | Labor as a Service（Humanoid Rental） A key feature is the ability to add programs based on customer requests, making it the first service in the country to offer customized deployment. Events & PR Exhibition & Demo Live Commerce PoC 116
Slide 117: Group Overview
Group Overview Financial condition and strategy Consolidated results ESG activities 117
Slide 118: ESG activities | Materiality
ESG activities | Materiality Solving social issues through business Dedication to the No.1 Service. Challenge We are dedicated to providing the dominant No.1 service in the Internet industry by operating and developing our own technology. Responsibility to protect our customers’ smiles. Safety We en
Slide 119: ESG activities | Materiality Matrix
ESG activities | Materiality Matrix The key issues were identified through an assessment based on opportunities and risks from the perspective of both "importance to stakeholders" and “Significance to GMO Internet Group." 119
Slide 120: ESG activities | Sustainability management for SDGs
ESG activities | Sustainability management for SDGs Our business helps Social and environmental issues to be solved. ・ ・ ・ 120
Slide 121: ESG activities | Disclosure Processes/External Evaluation
ESG activities | Disclosure Processes/External Evaluation Jan. 2024 [Disclosure Progress] FTSE ESG Ratings FTSE ESG Ratings 2.8 2.9 Assessment by ESG rating agencies / Inclusion in ESG indexes Mar. 2023 Dec. 2023 *2 Expanding Human capital disclosure Plans to publish integrated report （September 202
Slide 122: Internet for Everyone
Internet for Everyone 122 122