Gunosy, Inc. · TSE:6047

Gunosy — Q1 FY2026/5 Earnings Presentation

62 slides from Gunosy's earnings presentation, October 2025

Slide 1: FY2026/5 Financial Results for Q1
FY2026/5 Financial Results for Q1 株式会社 G un o sy Gunosy Inc. TSE Prime 東証プ (6047) ライム（証券コード：6047）
Slide 2: INDEX
INDEX 1. Overall Picture and FY2026/5 Q1 Summary P 03 2. Business Overview by Portfolio P 12 3. FY2026/5 Full-Year Forecast and Mid-Term Financial Goals P 32 4. ESG Initiatives P 39 5. Reference Material: Company Profile P 45 6. Business Segments Overview P 52 （C） Gunosy Inc. All Rights Reserved. 2
Slide 4: FY2026/5 Q1 Results Highlights
FY2026/5 Q1 Results Highlights FY2026/5 Q1 Results Full-Year Progress vs. Plan YoY Net sales 1,678 Million yen 21.3％ 106.7％ Operating profit 39 Million yen 5.1％ -130 Million yen EBITDA 70 Million yen 7.6％ -100 Million yen Summary • Although the Group’s Q1 full-year progress vs. plan was behind sched
Slide 5: Defining the Group Portfolio
Defining the Group Portfolio The Group portfolio is divided into three areas to realize shareholder value creation through both stability and growth. Divided into three portfolios to ensure both the strengthening of stable cash flow and growth over the medium to long term. 1 2 3 Cash-Flow Accretive
Slide 6: Future Cash Flow Projections by Portfolio and Concept for Enhancing Shareholder Value
Future Cash Flow Projections by Portfolio and Concept for Enhancing Shareholder Value Enhance shareholder value by expanding EBITDA through the Core Cash Area and M&A, while strengthening new growth drivers and shareholder returns. Flywheel for Enhancing Future Cash Flow Projections by Portfolio Sha
Slide 7: Capital Allocation and Shareholder Return Policy by Portfolio
Capital Allocation and Shareholder Return Policy by Portfolio We set targets for expected outcomes and capital efficiency for each portfolio and manage invested capital appropriately. We have clarified our policy of reflecting the results in shareholder returns, aiming to enhance shareholder value.
Slide 8: FY2026/5 Full-Year Plan – Net Sales and Operating Profit of Portfolios
FY2026/5 Full-Year Plan – Net Sales and Operating Profit of Portfolios The Core Cash Area is expected to generate stable cash flow and create additional profits in the second half. GH is expected to contribute to Group EBITDA growth in the second half following upfront investments. The SC (store & c
Slide 9: FY2026/5 Group Portfolio Strategy and Q1 Summary
FY2026/5 Group Portfolio Strategy and Q1 Summary We will continue to advance the key actions for this fiscal year—expanding Group-wide EBITDA through stable cash flow generation from the Core Cash Area and the promotion of M&A, while supporting slice’s growth and developing the SC (store & commerce)
Slide 10: Key Strategic Investment: slice – Business Overview
Key Strategic Investment: slice – Business Overview Driven by the expansion of AUM and deposits, Gross Profit also increased. Cost growth remained controlled relative to Gross Profit growth, resulting in improved profitability. The business is making steady progress toward achieving mid- to long-ter
Slide 11: Shareholder Return Policy: FY2026/5 Shareholder Return
Shareholder Return Policy: FY2026/5 Shareholder Return Policy In the previous fiscal year, Gunosy implemented a shareholder return equivalent to 5% of consolidated shareholders’ equity (comprising a 4% dividend and a 1% share repurchase). In the current fiscal year, we plan to continue a shareholder
Slide 13: Core Cash Area | Portfolio Sales
Core Cash Area ｜Portfolio Sales A core segment underpinning the Group’s stable cash generation. Revenue from core media has increased for three consecutive fiscal years and remained stable in FY2026/5 Q1. Highlights (FY2026/5 Q1) Portfolio Sales Trend Core media *1 Achievement rate (JPY millions) No
Slide 14: Core Cash Area | Portfolio EBITDA
Core Cash Area ｜Portfolio EBITDA Generated 328 million yen in EBITDA from the Core Cash Area in FY2026/5 Q1. Progress remains within expectations toward achieving the full-year plan, with further profit generation planned in the second half through cost control. Highlights (FY2026/5 Q1) Portfolio EB
Slide 16: M&A | Immediate Investment Focus
M&A｜Immediate Investment Focus Our fundamental policy is to pursue M&A that strengthens our value chain in areas expected to generate stable cash flow. Areas for Allocating Available Cash for Investment Existing Business Periphery New Business Short- to Medium-Term Allocation Priorities Stable Marke
Slide 17: M&A | Financial Guidelines
M&A｜Financial Guidelines To promote M&A, we have established financial guidelines to prevent excessive risk-taking. By adhering to these guidelines, we aim to execute M&A that balances improved capital efficiency with financial stability. Guidelines on Financial Risk The maximum investment amount du
Slide 18: G Holdings (GH) | Results and Key Evaluation Points
G Holdings (GH)｜ Results and Key Evaluation Points Highly evaluated for its repeatable business model that delivers stable cash flow and strong capital efficiency. Through M&A, Gunosy achieved both stable cash flow generation across the Group and entry into growth areas such as anime and manga IP. A
Slide 19: G Holdings (GH) | Progress Summary
G Holdings (GH)｜Progress Summary In Q1, the business recorded an operating loss due to upfront advertising and promotional investments for new game titles. From Q2 onward, 3–4 new titles are scheduled for release, and GH is expected to contribute to Group EBITDA growth in the second half. Titles Sch
Slide 21: High-Growth Option Area | Capital Allocation Status
High-Growth Option Area｜Capital Allocation Status Strategically and flexibly allocate capital to areas with strong mid- to long-term growth potential. Capital investments are made in slice, SC (store & commerce) business, IR Hub, and others, based on timing and growth potential. Capital Allocation (
Slide 22: slice | Launch of Credit Card Service
slice｜Launch of Credit Card Service The innovative credit card service centered on UPI was publicly released in August. Currently, card issuance is being carried out while controlling the supply volume. Public Release in UPI-Linked Credit Card August Becoming India’s most loved bank, slice super car
Slide 23: slice | Business Scale Expansion – Deposit Growth
slice｜Business Scale Expansion – Deposit Growth The number of new account openings remains at approximately 300K per month, comparable to HDFC, India’s largest private bank, in terms of net customer additions. Accordingly, the deposit balance (Deposit) has continued to grow at an annualized pace of
Slide 24: slice | Business Scale Expansion – AUM Growth
slice｜Business Scale Expansion – AUM Growth After the merger preparation period, AUM—a key KPI—has resumed growth. With the public release of the credit card service in August, further acceleration in AUM growth is expected. Response to Rapid growth through marketing investments based guid elines St
Slide 25: slice | Profitability Status — Gross Revenue and Revenue Efficiency
slice｜Profitability Status — Gross Revenue and Revenue Efficiency Profitability per AUM has remained largely stable after the merger. Gross Revenue is expected to continue growing in line with the increase in AUM, which serves as a leading indicator. Gross Revenue (Total Income) Revenue Efficiency p
Slide 26: slice | Profitability Improvement – Debt Profile and Cost of Funding
slice｜Profitability Improvement – Debt Profile and Cost of Funding As deposits increased following the merger, the funding structure has been shifting from high-interest borrowings to lower-cost deposits. As a result, the overall cost of funding has declined as expected. Debt Profile Cost of Funding
Slide 27: slice | Gross Profit Trend and P&L Structure
slice | Gross Profit Trend and P&L Structure Driven by the expansion of AUM and the reduction of borrowing costs, Gross Profit has shown steady growth. An efficient P&L structure that controls cost increases has been established, resulting in a profit structure conducive to growth in EBITDA *1 and p
Slide 28: slice | Shareholding Status
slice | Shareholding Status Even after the merger, Gunosy has maintained a shareholding of over 12.65% on a fully diluted basis. As the key external shareholder, we continue to support slice’s mid- to long-term growth and maintain a strong relationship. Our shareholdings Maintaining status as the As
Slide 29: Game8 | SC Business Progress Update
Game8 | SC Business Progress Update Gunosy has made a full-scale entry into the new ¥2 trillion market opened by the enforcement of the Act on Promotion of Competition for Specified Smartphone Software. We are focusing on developing highly convenient features, and the number of titles adopting our s
Slide 30: New Business | IR Hub Progress Update
New Business ｜IR Hub Progress Update Capturing the rising demand for English-language disclosures, the IR operations cloud “IR Hub” has been steadily gaining traction. Adoption among Prime Market–listed companies has expanded, driving progress in building a foundation for digital transformation (DX)
Slide 31: Digital Transformation Initiatives | Driving Competitiveness and Sustainable Growth
Digital Transformation Initiatives | Driving Competitiveness and Sustainable Growth Driving productivity improvement in existing businesses and the creation of new business opportunities through digital transformation. Promoting corporate transformation through digital technologies, including the ac
Slide 33: Medium-Term Financial Goals: As of FY2027/5
Medium-Term Financial Goals: As of FY2027/5 Medium-Term Financial Goals: As of FY2027/5 Business Investment Operating ROIC IRR profit/EBITDA (on invested capital for existing 30% businesses) 900million yen 15% and over Update on Mid-Term Financial Goals as of FY2026/5 Q1 • EBITDA is expected to achi
Slide 34: FY2026/5 Consolidated Full-Year Plan: Progress Update
FY2026/5 Consolidated Full-Year Plan: Progress Update Although the Group’s Q1 achievement rate was slightly behind plan, the full-year target remains within reach, supported by cost controls in the second half and improved profitability in new businesses. (JPY millions) FY2026/5 Full-Year FY2026/5 Q
Slide 35: FY2026/5 Full-Year Plan – Sales & Operating Profit of Each Portfolio
FY2026/5 Full-Year Plan – Sales & Operating Profit of Each Portfolio The Core Cash Area continues to generate stable cash flow and is expected to deliver additional profit in the second half. G Holdings (GH) is projected to contribute to Group-wide EBITDA growth in the second half of the year follow
Slide 36: Shareholder Return Policy
Shareholder Return Policy Reflecting the earnings outlook and the growth potential of slice, we determined that a balance between stable shareholder returns and business growth can be achieved. We aim to maintain a stable dividend with a DOE of 3% or higher, while targeting a DOE of 5% over the long
Slide 37: Shareholder Return Policy: FY2026/5 Shareholder Return
Shareholder Return Policy: FY2026/5 Shareholder Return In the previous fiscal year, we implemented shareholder returns equivalent to 5% of consolidated shareholders’ equity (4% dividend + 1% share buyback). For this fiscal year, we plan to continue shareholder returns at 4% of consolidated sharehold
Slide 38: Efforts to Maintain Prime Market Listing
Efforts to Maintain Prime Market Listing We recognize retaining our Prime Market listing as a critical priority. We are strongly committed to improving performance and enhancing shareholder returns to meet the market capitalization requirement for tradable shares. Compliance Status as of the Referen
Slide 40: Key ESG Initiatives
Key ESG Initiatives Designing appropriate governance with a focus on group 1 management Designing and operating board agendas to enhance 2 management precision Operating media with a commitment to providing a safe 3 advertising experience （C） Gunosy Inc. All Rights Reserved. 40
Slide 41: Designing Appropriate Governance for Group Management
1 Designing Appropriate Governance for Group Management Establishing an organizational management framework capable of supporting full-scale group management. We will continue to update our governance framework through constructive dialogue with capital markets. Key Committees in Group Management Bo
Slide 42: Designing and Operating Board Agendas
2 Designing and Operating Board Agendas To enhance board effectiveness, we ensure that key management agendas are discussed regularly. Each fiscal year, we conduct evaluations of board effectiveness and review the operational efficiency of the board. Board Meeting Schedule Number of Sessions Example
Slide 43: Media Management Designed to Ensure a Safe Advertising Experience
Media Management Designed to Ensure a Safe Advertising 3 Experience By establishing an ad review framework that ensures checks and balances between ad sales and ad review functions, we aim to implement governance that provides a safe advertising experience. Gunosy Business Game8 Company Gunosy Busin
Slide 44: Media Management Designed to Ensure a Safe Advertising Experience (Continued)
3 Media Management Designed to Ensure a Safe Advertising Experience (Continued) Game8 has launched “Game8 for Kids” to enhance advertising quality and provide game walkthrough information that minors can use safely and with confidence. Examples of Game8 for Kids Initiatives Revising difficult kanji
Slide 47: Management Team
Management Team The management structure for FY2026/5 is as follows. Newly appointed Representative Director and Chairman, Representative Director Director and Chief Director and Chief Director Group Chief Executive Officer (CEO) and President Operating Officer (COO) Financial Officer (CFO) Shunsuke
Slide 48: Company History
Company History June 2016 April 2021 “Newslite” (formerly “au Service Today” NewsPass) released released November 2012 July 2018 Established Gunosy Inc. in Established Gunosy Capital and Roppongi, Minato-ku, Tokyo started investment business 2012 2015 2016 2017 2018 2019 2021 2022 2025 April 2015 De
Slide 49: Growth Image
Growth Image Increase corporate value through growth of existing businesses and development of new businesses Aim for group-wide growth with a market High-Growth Option capitalization of 100 billion yen as a medium- Area to long-term target Accretive M&A Cash-Flow Area Core Cash Area Established （C）
Slide 50: Overview of Gunosy Inc. Basic Information
Overview of Gunosy Inc. Basic Information Representative Director and Chairman, Company name: Gunosy Inc. Officers: Group Chief Executive Officer (CEO), Shinji Kimura Representative: Shinji Kimura Representative Director and President, Kentaro Nishio Kentaro Nishio Director and Chief Operating Offic
Slide 51: From “Gunosy Way” to “Gunosy Pride”
From “Gunosy Way” to “Gunosy Pride” The concept of "Gunosy Way", which had been defined as a milestone for Gunosy to follow, was redesigned as "Gunosy Pride“, which inherits the original thoughts and concepts. 1 “Triple win” philosophy Benefit the customer, the user, and the world. Benefit yourself,
Slide 53: Breakdown of Net Sales
Breakdown of Net Sales*1 Sales of the core media as a whole remained stable. With G Holdings joining the Group, total Group sales turned to a QoQ growth trend. Others GH Game8 ADNW Gunosy Ads *2 (JPY millions) 2,400 192 168 194 153 457 295 451 142 203 244 390 420 280 36 31 295 271 1,600 257 369 381
Slide 54: Cost Structure
Cost Structure We will continue our cost control policy to ensure efficient business operations across the Group. As G Holdings has joined the Group, total Group costs increased compared to the previous quarter. (JPY millions) Ad network costs Server expenses Personnel expenses Rent expenses on land
Slide 55: Business Model of Our Media Business
Business Model of Our Media Business We obtain content from external media (“content partners”) and offer the service to users free of charge. We provide advertising space to advertisers to serve ads to users, and we receive revenue from advertisers. Provide content Content partner ¥ *1 Browse conte
Slide 56: Media Business | Progress Summary of Gunosy's Key KPIs
Media Business｜Progress Summary of Gunosy's Key KPIs Sales/DAU improved from the previous quarter’s temporary slowdown, remaining within the normal range of volatility. Although the advertising market continues to soften, the DAU base remains stable, and we believe our underlying cash flow generatio
Slide 57: Gunosy | Total Number of Active Users (MAU) and Advertising Industry Breakdown
Gunosy｜Total Number of Active Users (MAU) and Advertising Industry Breakdown In addition to continued control of advertising expenses, the downsizing of NewsLite also contributed to a decrease in MAU, which remained within the expected range. Advertising clients remained diversified across multiple
Slide 58: Game8 | Business Model
Game8｜Business Model Gate8 Inc. develops its business around monetizing advertising revenue through game walkthrough media. The company provides a wide range of marketing solutions by employing diverse advertising strategies, including writing game walkthrough articles. Users Clients Provide 1 Provi
Slide 59: Game8 | Key KPIs
Game8｜Key KPIs Both domestic and international media continued to grow, with quarterly revenue reaching a record high. While KPIs fluctuate depending on the performance of individual game titles, overall trends remain solid. PVs RPM Although subject to some volatility Maintained high profitability.
Slide 60: slice | Business Model
slice｜Business Model A financial services business based in India, known for its intuitive, digital-first design that has gained strong support among younger users. Following the merger with NESFB, the company has expanded its range of financial services, including the acceptance of deposits as a li
Slide 61: slice | Company History
slice｜Company History "slice" was founded in 2015. Since 2019, we have invested a cumulative total of more than 3 billion yen in slice. In October 2024, the merger process with NESFB was completed. 2015 Jun GaragePreneurs Internet Pvt Ltd., which About slice operates "slice" established Transforming
Slide 62: slice | Positive Business Impact from License Changes
slice｜ Positive Business Impact from License Changes Following the merger, slice is now able to offer a wider array of financial services, including deposit accounts and credit cards. At the same time, the merger is expected to contribute to improved capital efficiency through lower borrowing costs

Gunosy — Q1 FY2026/5 Earnings Presentation on 6ix

Gunosy — Q1 FY2026/5 Earnings Presentation

Slide 1: FY2026/5 Financial Results for Q1

Slide 2: INDEX

Slide 3: Overall Picture and FY2026/5 Q1 Summary

Slide 4: FY2026/5 Q1 Results Highlights

Slide 5: Defining the Group Portfolio

Slide 6: Future Cash Flow Projections by Portfolio and Concept for Enhancing Shareholder Value

Slide 7: Capital Allocation and Shareholder Return Policy by Portfolio

Slide 8: FY2026/5 Full-Year Plan – Net Sales and Operating Profit of Portfolios

Slide 9: FY2026/5 Group Portfolio Strategy and Q1 Summary

Slide 10: Key Strategic Investment: slice – Business Overview

Slide 11: Shareholder Return Policy: FY2026/5 Shareholder Return

Slide 12: Business Overview by Portfolio: Core Cash Area

Slide 13: Core Cash Area | Portfolio Sales

Slide 14: Core Cash Area | Portfolio EBITDA

Slide 15: Business Overview by Portfolio: Cash-Flow Accretive M&A Area

Slide 16: M&A | Immediate Investment Focus

Slide 17: M&A | Financial Guidelines

Slide 18: G Holdings (GH) | Results and Key Evaluation Points

Slide 19: G Holdings (GH) | Progress Summary

Slide 20: Business Overview by Portfolio: High-Growth Option Area

Slide 21: High-Growth Option Area | Capital Allocation Status

Slide 22: slice | Launch of Credit Card Service

Slide 23: slice | Business Scale Expansion – Deposit Growth

Slide 24: slice | Business Scale Expansion – AUM Growth

Slide 25: slice | Profitability Status — Gross Revenue and Revenue Efficiency

Slide 26: slice | Profitability Improvement – Debt Profile and Cost of Funding

Slide 27: slice | Gross Profit Trend and P&L Structure

Slide 28: slice | Shareholding Status

Slide 29: Game8 | SC Business Progress Update

Slide 30: New Business | IR Hub Progress Update

Slide 31: Digital Transformation Initiatives | Driving Competitiveness and Sustainable Growth

Slide 32: FY2026/5 Full-Year Forecast and Mid-Term Financial Goals

Slide 33: Medium-Term Financial Goals: As of FY2027/5

Slide 34: FY2026/5 Consolidated Full-Year Plan: Progress Update

Slide 35: FY2026/5 Full-Year Plan – Sales & Operating Profit of Each Portfolio

Slide 36: Shareholder Return Policy

Slide 37: Shareholder Return Policy: FY2026/5 Shareholder Return

Slide 38: Efforts to Maintain Prime Market Listing

Slide 39: ESG Initiatives

Slide 40: Key ESG Initiatives

Slide 41: Designing Appropriate Governance for Group Management

Slide 42: Designing and Operating Board Agendas

Slide 43: Media Management Designed to Ensure a Safe Advertising Experience

Slide 44: Media Management Designed to Ensure a Safe Advertising Experience (Continued)

Slide 45: Reference Material: Company Profile

Slide 46: Mission: Optimally deliver information to people around the world

Slide 47: Management Team

Slide 48: Company History

Slide 49: Growth Image

Slide 50: Overview of Gunosy Inc. Basic Information

Slide 51: From “Gunosy Way” to “Gunosy Pride”

Slide 52: Business Segments Overview

Slide 53: Breakdown of Net Sales

Slide 54: Cost Structure

Slide 55: Business Model of Our Media Business

Slide 56: Media Business | Progress Summary of Gunosy's Key KPIs

Slide 57: Gunosy | Total Number of Active Users (MAU) and Advertising Industry Breakdown

Slide 58: Game8 | Business Model

Slide 59: Game8 | Key KPIs

Slide 60: slice | Business Model

Slide 61: slice | Company History

Slide 62: slice | Positive Business Impact from License Changes