Ly Corporation · TSE:4689
Ly — FY2025 Q3 Earnings Presentation
24 slides from Ly's earnings presentation, Feb 4, 2026
Slide 1: LY Corporation Earnings FY2025 Q3
LY Corporation Earnings FY2025 Q3 February 4, 2026 Security Code: 4689
Slide 2: FY2025 Q3 Earnings Highlights
FY2025 Q3 Earnings Highlights On an ASKUL-excluded basis, revenue and profit achieved double-digit % YoY growth Result JPY499.9 B (YoY-0.7%) Consolidated Revenue Excl. ASKUL1 YoY+15.7% Result JPY126.0 B (YoY-2.3%) Consolidated Adjusted EBITDA Excl. Askul1 YoY+11.2% 1. Excludes ASKUL from the actual
Slide 3: Table of Contents
Table of Contents 1 Financial Results – Consolidated 2 Financial Results – by Segment
Slide 4: Financial Results – Consolidated
Table of Contents 1 Financial Results – Consolidated 2 Financial Results – by Segment
Slide 5: Consolidated FY2025 Q3 – Performance
Consolidated FY2025 Q3 – Performance Consolidated revenue and adjusted EBITDA, excluding ASKUL, showed double-digit % YoY growth Excluding ASKUL1 Segment Item FY2025 Q3 % YoY Change FY2025 Q3 % YoY Change Revenue JPY499.9 B -0.7 % JPY442.6 B +15.7 % Consolidated Adjusted EBITDA JPY126.0 B -2.3 % JPY
Slide 6: Consolidated Outlook for FY2025 and FY2026
Consolidated Outlook for FY2025 and FY2026 • Revenue projected at approx. JPY2.0 trillion, affected by ASKUL’s system outage • Adjusted EBITDA expected at approx. JPY500.0 billion, even after factoring in ASKUL’s system outage FY25 - Revenue growth in the Strategic segment and company-wide cost redu
Slide 7: Consolidated – Performance
Consolidated Consolidated – Performance Revenue and profit declined due to ASKUL’s system outage, but the underlying business remained solid Revenue/ %YoY Growth Adjusted EBITDA/ %YoY Growth Adjusted EBITDA Margin (JPY B) (JPY B) +9.4% +17.5% +6.0% +4.5% +5.7% +11.3% -0.7% +5.5% +3.4% -2.3% % Growth
Slide 8: Factors of Change in Adjusted EBITDA (Excluding ASKUL)
Consolidated Consolidated – Performance Factors of Change in Adjusted EBITDA1 (Excluding ASKUL2) Revenue: +JPY60.1 billion • Media: +JPY0.1 B (JPY B) - Search advertising: -JPY4.6 B - Account advertising: +JPY4.6 B - Display advertising: +JPY0.5 B • Commerce: +JPY32.5 B - LY Corporation: +JPY28.5 B
Slide 9: Consolidated – Total Advertising Revenue
Consolidated Consolidated – Total Advertising Revenue Commerce ads continued to grow, supported by expanding GMV Consolidated – Total Advertising Revenue¹ Consolidated – Total Advertising Revenue % YoY Growth (JPY B) 172.0 167.3 164.7 157.4 160.4 23.5 Commerce1 19.6 16.8 17.5 18.8 +40.6% +33.3% +27.
Slide 10: Consolidated – E-Commerce Transaction Value
Consolidated Consolidated – E-Commerce Transaction Value Reuse growth driven by flea market. Shopping decline YoY, following last year’s spike in Hometown Tax demand Consolidated – E-Commerce Transaction Value1 Consolidated – E-Commerce Transaction Value % YoY Growth1 (JPY B) 1,187.6 1,209.5 1,180.2
Slide 11: Financial Results – by Segment
Table of Contents 1 Financial Results – Consolidated 2 Financial Results – by Segment
Slide 12: Media Business – Performance
Media Business Media Business – Performance Adjusted EBITDA bottomed out in Q1 and trending upward Revenue/ % YoY Growth1, 2, 3 Adjusted EBITDA/ % YoY Growth1, 2, 3 Adjusted EBITDA Margin1, 2, 3 (JPY B) (JPY B) +3.5% +4.7% +22.8% +0.6% -0.3% +0.1% +5.8% % Growth -7.2% -3.9% -2.8% % Growth 40.1% 186.
Slide 13: Media Business – Performance (YoY -2.8%)
Media Business Media Business – Performance Revenue1 Adjusted EBITDA1, 2 (JPY B) (JPY B) 186.9 187.0 +0.1% Decrease Increase in COGS Advertising Revenue 148.3 148.9 +0.4% in revenue -0.8 75.0 +0.1 Search Advertising 49.3 44.6 -9.5% (YoY -2.8%) 72.8 Account Advertising 33.6 38.2 +13.8% +3.0 Increase
Slide 14: Rollout of OA, MINI Apps, and SaaS Businesses
Media Business Rollout of OA1, MINI Apps, and SaaS Businesses2 Strengthening sustainable growth base by expanding mini apps and SaaS, leveraging OA ARPA Market Size3 ARPA SaaS 3 (To be launched H1 of 2026) SaaS JPY890.0 B Store DX Reservation CRM MINI Apps 2 Ads JPY840.0 B Ads Payment Payment JPY1,3
Slide 15: Account Advertising
Media Business Rollout of OA1, MINI Apps, and SaaS Businesses (1) | Account Advertising Solid growth continued in both No. of paid accounts and revenue No. of Paid LINE Official Accounts (Global/Japan)2 Revenue (Thousands) (JPY B) 484 +20.8% 469 +17.6% +18.0% 454 Pay-As-You-Go +15.8% 433 440 44 +13.
Slide 16: LINE MINI App
Media Business Rollout of OA1, MINI Apps, and SaaS Businesses (2) | LINE MINI App Usage increased, driven by higher awareness through promotions and other marketing initiatives No. of LINE MINI Apps LINE MINI App MAU (Thousands) (Mil) 30 20.48 25 16.85 23 21 14.73 14.49 19 12.50 YoY +57.8% YoY +63.8
Slide 17: SaaS (Acquiring the Reservation Domain)
Media Business Rollout of OA1, MINI Apps, and SaaS Businesses (3) | SaaS (Acquiring the Reservation Domain) Acquiring Toreta Inc., expanding into reservations and completing end-to-end suite of store operations capabilities Building a Foundation for Store Operations By Acquiring Toreta, Inc. Charact
Slide 18: Commerce Business – Performance
Commerce Business Commerce Business – Performance Excluding ASKUL, adjusted EBITDA grew +15.5% YoY, reflecting a strong underlying performance Revenue/ %YoY Growth1, 2, 3 Adjusted EBITDA/ %YoY Growth1, 2, 3 Adjusted EBITDA Margin1, 2, 3 (JPY B) (JPY B) +3.5% +7.3% +19.8% +3.2% +0.4% -25.4% -10.6% -4
Slide 19: Commerce Business – Performance (YoY +15.5%)
Commerce Business Commerce Business – Performance Revenue1 (Excluding ASKUL2) Factors of Change in Adjusted EBITDA1, 3 (Excluding ASKUL2) (JPY B) (JPY B) Increase Increase 137.6 +31.0% in revenue in COGS Increase in SG&A (YoY +15.5%) +6.9 +0.5 +2.5 37.3 105.0 32.2 +1.1 72.8 +64.4% Increase in Adjust
Slide 20: Strategic Business – Performance
Strategic Business Strategic Business – Performance Revenue surged +30% YoY, with profit and margins expanding further Revenue/ %YoY Growth1, 2 Adjusted EBITDA1, 2 Adjusted EBITDA Margin1,2 (JPY B) (JPY B) +35.0% 26.3 +30.0% +19.0% +22.1% % Growth 21.7% 22.2% +14.5% 22.8 20.9% 118.4 19.7% 20.9 109.7
Slide 21: Strategic Business – Performance (YoY +46.4%)
Strategic Business Strategic Business – Performance Revenue1 Factors of Change in Adjusted EBITDA1, 3 (JPY B) (JPY B) 118.4 +30.0% Increase in revenue Increase +27.3 in SG&A +14.2 91.1 +4.7 Increase (YoY +46.4%) 98.2 +24.2% in COGS 26.3 PayPay Consolidated2 79.1 17.9 • PayPay Consolidated: Increase
Slide 22: PayPay Consolidated – Business Overview
Strategic Business PayPay Consolidated – Business Overview Growth accelerated across both Payments and Financial services, driving strong growth in both revenue and profit No. of Registered Users1 GMV (Consolidated)2 Revenue (Consolidated)3 EBITDA (Consolidated)4 (Mil) (JPY T) (JPY B) (JPY B) 72.19
Slide 23: Disclaimer
Disclaimer Statements made at the meeting or included in the documents that are not historical facts are forward-looking statements about the future performance of LY Corporation (Company) and its consolidated subsidiaries and affiliates. The Company cautions you that a number of important factors c
Slide 24: LY Corporation
LY Corporation Create an amazing life platform that brings WOW! to our users.