Bleach, Inc. · TSE:9162

Bleach — Q2 FY2026/6 Earnings Presentation

46 slides from Bleach's earnings presentation, Feb 13, 2026

  1. Slide 1: FY2026/6 Q2 Consolidated Financial Results Presentation

    FY2026/6 Q2 Consolidated Financial Results Presentation Bleach, Inc. (Securities Code: 9162) February 13, 2026 Copyright © Bleach, Inc. All Rights Reserved. Copyright © Bleach, Inc. All Rights Reserved.

  2. Slide 2: Contents

    Contents 1. FY2026/6 Q2 Consolidated Financial Results ・ ・ ・ P.03 2. FY2026/6 Growth Strategy ・ ・ ・ ・ ・ ・ ・ ・ ・ ・ P.21 3. Company Overview / Business Model ・ ・ ・ ・ ・ ・ P.31 4. Shareholder Returns ・ ・ ・ ・ ・ ・ ・ ・ ・ ・ ・ ・ P.37 5. Frequently Asked Questions ・ ・ ・ ・ ・ ・ ・ ・ ・ P.39 Copyright © Bleach, In

  3. Slide 3: 1. FY2026/6 Q2 Consolidated Financial Results

    1. FY2026/6 Q2 Consolidated Financial Results Copyright © Bleach, Inc. All Rights Reserved. 3

  4. Slide 4: [Consolidated] Financial Highlights for FY2026/6 H1

    [Consolidated] Financial Highlights for FY2026/6 H1 Consolidated net sales Advertising profit/ROAS*1 Consolidated operating Advertising profit JPY 8,734 mn profit JPY 1,593mn -JPY54mn/-3.3% YoY JPY -10 mn 123.0 % +JPY439mn/+5.3% YoY ROAS JPY-196mn YoY • Due to measures to expand the product • Advert

  5. Slide 5: [Consolidated] Net Sales Trends (By Product/Category)

    [Consolidated] Net Sales Trends (By Product/Category) We promoted the conversion of new products and new categories into core products through continued advertising investments. We achieved stable earnings by diversifying risk through product portfolio expansion measures. 4,500 4,431 4,383 4,365 4,3

  6. Slide 6: Breakdown of Operating Profit in FY2026/6 H1 and YoY Comparisons

    [Consolidated] Breakdown of Operating Profit in FY2026/6 H1 and YoY Comparisons We made proactive advertising investments in new categories and products and invested in hiring marketers and sales personnel to expand marketing support capabilities. (JPY mn) +206 186 ▲183 -183 ▲54 -54 ▲56 -56 ▲44 -44

  7. Slide 7: [Non-Consolidated] Financial Highlights (Quarterly Comparisons)

    [Non-Consolidated] Financial Highlights (Quarterly Comparisons)*1 FY2025/6 FY2026/6 Key items Unit Q1 Q2 Q3 Q4 Q1 Q2 PL Net sales (JPY mn) 3,911 4,383 4,365 4,429 4,251 4,277 Advertising profit (JPY mn) 676 970 879 857 871 721 Operating profit (JPY mn) -70 257 184 70 78 -92 Operating margin (%) -1.8

  8. Slide 8: [Non-Consolidated] Net Sales and Advertising Profit (Quarterly Comparisons)

    [Non-Consolidated] Net Sales and Advertising Profit (Quarterly Comparisons)*1 Change in net sales Change in advertising profit (JPY mn) (JPY mn) 17,088 3,382 4,429 13,805 857 Q4 2,925 2,307 4,365 Q3 Q4 422 879 3,455 8,528 -2.7% -25.7% 1,592 Q3 600 4,383 4,277 Q2 3,659 970 721 Q2 589 Q1 3,766 3,911 4

  9. Slide 9: [Non-Consolidated] Change in Products by Rank (Quarterly Comparisons)

    [Non-Consolidated] Change in Products by Rank (Quarterly Comparisons) As a product portfolio expansion measure, we increased the number of products handled and continued to focus on developing new products and categories. We continued proactive advertising investments in products and categories with

  10. Slide 10: [Non-Consolidated] Net Sales by Product Rank (Quarterly Comparisons)

    [Non-Consolidated] Net Sales by Product Rank*1 (Quarterly Comparisons) Net sales from core-ranked products increased steadily as a result of our product portfolio expansion initiatives. Despite changes in clients’ sales strategies and a deterioration in the advertising media environment, the launch

  11. Slide 11: [Non-Consolidated] Advertising Profit, ROAS (Quarterly Comparisons)

    [Non-Consolidated] Advertising Profit*1, ROAS*2 (Quarterly Comparisons) We continued proactive advertising investments to convert new products and new categories into core products, despite the impact of higher advertising unit prices during the Christmas and year-end sales season. 128.4% (JPY bn) 1

  12. Slide 12: [Non-Consolidated] Net Sales Per Marketer, No. of Marketers

    [Non-Consolidated] Net Sales Per Marketer, No. of Marketers*1 The number of marketers increased by 31.8% YoY due to the strengthening of marketing personnel recruitment in anticipation of business expansion in the medium- to long-term. We are currently in a phase of strengthening our organizational

  13. Slide 13: [Aurum Tech] Net Sales by Support Recipient, No. of Client Companies Supported

    [Aurum Tech] Net Sales by Support Recipient, No. of Client Companies Supported*1 Due to the acquisition of exclusive sales rights for the JOVS brand (light-based beauty devices) and the switch from wholesale to direct online sales, net sales in FY2026/6 Q2 decreased as expected. We released a new pr

  14. Slide 14: New Product "Dora Scroll" Released

    New Product “Dora Scroll” Released We released the new light-based beauty device “Dora Scroll” in January 2026 that we were involved in from the product planning stage as a business partner of the JOVS brand. (i) Expansion of support area for manufacturers For the JOVS brand, in addition to the sale

  15. Slide 15: (Reference) Aurum Tech Supported Clients Results

    (Reference) Aurum Tech Supported Clients Results We steadily expanded supported clients such as domestic and overseas manufacturers, creating opportunities to generate revenue. We provided comprehensive support from product planning to building sales systems, focusing on the beauty, healthcare, and

  16. Slide 16: (Reference) Aurum Tech Support Example: JOVS Brand

    (Reference) Aurum Tech Support Example: JOVS Brand The JOVS brand is a global brand that develops smart beauty equipment using light-based beauty technology and has established a world-class position in the at-home beauty device field. In recognition of AT’s support system, we obtained exclusive sal

  17. Slide 17: (Reference) Global Expansion and Evaluation of the JOVS Brand

    (Reference) Global Expansion and Evaluation of the JOVS Brand JOVS light-based beauty International design equipment Overseas influencers International exhibitions awards Grown into a brand that is favored Actively exhibited in major The “Venus S” and other products Global best-selling beauty intern

  18. Slide 18: Quarterly Trends in the Consolidated Statement of Income

    Quarterly Trends in the Consolidated Statement of Income*1 (JPY mn) FY2025/6 FY2026/6 Item Q1 Q2 Q3*1 Q4 Full-year total Q1 Q2 Total Net sales 3,911 4,383 4,365 4,500 17,160 4,431 4,302 8,734 Advertising expenses 3,234 3,412 3,485 3,572 13,704 3,379 3,556 6,935 COGS of products - - - 59 59 160 22 18

  19. Slide 19: Trends in the Consolidated Statement of Income

    Trends in the Consolidated Statement of Income*1 (JPY mn) FY2025/6 FY2026/6 Percentage Item Change Consolidated net sales H1 H1 change Net sales 8,294 8,734 438 5.3% • Increased number of core products and expanded net sales from core Advertising expenses 6,647 6,935 277 4.2% products through produc

  20. Slide 20: Trends in the Consolidated Balance Sheet

    Trends in the Consolidated Balance Sheet*1 (JPY mn) December 31, Percentage Item June 30, 2025 Change 2025 change Cash and deposits 8,899 7,654 -1,244 -14.0% Accounts receivable- Cash and deposits trade 1,654 1,811 157 9.5% Advance payments to • Decreased mainly due to advance payments to suppliers

  21. Slide 21: 2. FY2026/6 Growth Strategy

    2. FY2026/6 Growth Strategy Copyright © Bleach, Inc. All Rights Reserved. 21

  22. Slide 22: Disclosure of Earnings Forecast for FY2026/6

    Disclosure of Earnings Forecast for FY2026/6 An earnings forecast for FY2026/6 has not yet been determined as it is difficult to calculate a reasonable forecast at the present time. Going forward, we will promptly disclose an earnings forecast as soon as it becomes possible to do so. The reasons are

  23. Slide 23: FY2026/6 Growth Strategy

    FY2026/6 Growth Strategy Build a portfolio of businesses by strengthening the customer base through expansion of the product portfolio and support areas and achieve continuous and stable growth through recruitment and training of human resources and investing in IT. • In addition to deepening existi

  24. Slide 24: Growth Strategy - 1. Expansion of the Product Portfolio (1/2)

    FY2026/6 Growth Strategy - 1. Expansion of the Product Portfolio (1/2) In FY2026/6, we will develop new products and our customer base by expanding our support areas such as our sales infrastructure. Image of development into new categories • Expand the number of non-e-commerce web visitors and appl

  25. Slide 25: Growth Strategy - 1. Expansion of the Product Portfolio (2/2)

    FY2026/6 Growth Strategy - 1. Expansion of the Product Portfolio (2/2) We will utilize marketing data accumulated in our in-house database to strengthen our upstream value-chain consulting capabilities and strengthen our customer base by accelerating growth and expanding the scope of support. Contin

  26. Slide 26: Growth Strategy - 2. Expansion of Marketing Methods

    FY2026/6 Growth Strategy - 2. Expansion of Marketing Methods Expand customers reached by developing new advertising media. Expansion of advertising media used Expansion of marketing methods • Expand marketing methods to video advertising, listing ads, e-commerce malls, influencers, etc., in addition

  27. Slide 27: Growth Strategy - 3. Enhancement of Recruitment / Training

    FY2026/6 Growth Strategy - 3. Enhancement of Recruitment / Training Create excellent marketers in a manner that can be repeated by refining our strong recruiting ability to attract talented people and training program that makes inexperienced individuals into our workforce at an early stage. Hiring

  28. Slide 28: Growth Strategy - 4. IT Investment and AI Utilization

    FY2026/6 Growth Strategy - 4. IT Investment and AI Utilization We collect and centrally manage our marketing-related data measured in various advertising media and automatically analyze it using our proprietary system to speed up and streamline advertising investment decision-making. Data collection

  29. Slide 29: Growth Strategy - 5. Expansion of Manufacturer Support Functions (1/2)

    FY2026/6 Growth Strategy - 5. Expansion of Manufacturer Support Functions (1/2) Expand integrated support functions from upstream to downstream, from product concept design to sales infrastructure construction. Widen the range of support areas to expand multi-layered revenue opportunities for the Gr

  30. Slide 30: Growth Strategy - 5. Expansion of Manufacturer Support Functions (2/2)

    FY2026/6 Growth Strategy - 5. Expansion of Manufacturer Support Functions (2/2) Comprehensive support from value maximization to sales channel design and logistics operations by identifying the intrinsic charm of products. Through collaboration between AT and Bleach, we will become a business partne

  31. Slide 31: 3. Company Overview / Business Model

    3. Company Overview / Business Model Copyright © Bleach, Inc. All Rights Reserved. 31

  32. Slide 32: Company Overview

    Company Overview Company name | Bleach, Inc. Corporate Philosophy Representative | Keisuke Odaira, CEO Illuminate the World 21F Nakameguro GT Tower, 2-1-1 Kamimeguro, Location | Meguro-ku, Tokyo, Japan Establishment | April 28, 2010 We will contribute to the creation of a richer society by shining l

  33. Slide 33: History

    History April 2010 November 2016 • Established as • Started our current core July 2023 Japan Weblink Co., Ltd. business of sharing-type • Newly listed on the Tokyo Stock integrated marketing business Exchange Growth Market March 2013 January 2022 • Company name • Headquarters moved to changed to Meg

  34. Slide 34: Our Business Model

    Our Business Model We have adopted a revenue sharing system as our main model, where we receive compensation based on performance. This allows us to offer marketing support that does not require initial fees and limits the cost risk, and supports a wide range of companies including small and medium-

  35. Slide 35: Support Scheme for the Revenue Sharing System

    Support Scheme for the Revenue Sharing System We employ a unique performance-linked model in which marketing initiatives are implemented at the expense of the Company and a revenue share*1 is received depending on the performance. In addition, we provide a co-creative support scheme aimed at sustain

  36. Slide 36: Revenue Model of Our Revenue Sharing System

    Revenue Model of Our Revenue Sharing System Our revenue share amount (equal to our net sales) is calculated by multiplying the revenue share unit price agreed upon with the client beforehand and the number of new users acquired by us. In addition, we track ROAS as a profitability metric, investing i

  37. Slide 37: 4. Shareholder Returns

    4. Shareholder Returns Copyright © Bleach, Inc. All Rights Reserved. 37

  38. Slide 38: Shareholder Returns

    Shareholder Returns To strengthen the Group's financial position and prepare for future business development, we will retain earnings available for dividends and will not distribute dividends. However, we consider the return of profits to shareholders to be one of the most important management issue

  39. Slide 39: 5. Frequently Asked Questions

    5. Frequently Asked Questions Copyright © Bleach, Inc. All Rights Reserved. 39

  40. Slide 40: Frequently Asked Questions (1/5)

    Frequently Asked Questions (1/5) No. Questions Answer 1 What are the strengths of your services and Our strength is our ability to win many new users while fixing cost per acquisition (CPA). what added value do you provide to clients? Clients can fix the CPA in advance, as we use a revenue sharing s

  41. Slide 41: Frequently Asked Questions (2/5)

    Frequently Asked Questions (2/5) No. Questions Answer 3 What type of contract do you conclude with We usually conclude basic transaction agreements (automatic renewal) with clients and clients when providing marketing support? Do individual contracts for each product we will support. We generally do

  42. Slide 42: Frequently Asked Questions (3/5)

    Frequently Asked Questions (3/5) No. Questions Answer 6 Please explain why sales are concentrated We supported many products via R Corporation, an advertising agency. This agency has on a single client, and what your future many clients, including major manufacturers of foods, cosmetics, and daily g

  43. Slide 43: Frequently Asked Questions (4/5)

    Frequently Asked Questions (4/5) No. Questions Answer 8 Do you anticipate any impact particular to the Since our core business is revenue sharing system structure, there is no need for clients advertising sector, such as clients’ ad budgets to set budgets in advance. In addition, our clients can det

  44. Slide 44: Frequently Asked Questions (5/5)

    Frequently Asked Questions (5/5) No. Questions Answer 10 Please explain your system for advertising In addition to checks by specialized department internally, advertisements to be review. distributed by our company are also reviewed by external legal counsel and other experts to ensure their compli

  45. Slide 45: Cautionary Note Regarding Forward-Looking Statements

    Cautionary Note Regarding Forward-Looking Statements This presentation contains forward-looking statements, including estimations, forecasts, targets and plans. Such forward-looking statements do not represent any guarantee by Bleach, Inc. (the “Company”) of future performance. Any forward-looking s

  46. Slide 46: Copyright © Bleach, Inc. All Rights Reserved.

    Copyright © Bleach, Inc. All Rights Reserved.

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