Hakuhodo Dy Holdings Incorporated · TSE:2433
Hakuhodo Dy — H1 2025 Earnings Presentation
53 slides from Hakuhodo Dy's earnings presentation, Nov 13, 2025
Slide 1: Consolidated Financial Highlights First-half FY2025
Consolidated Financial Highlights First-half FY2025 (April–September, 2025) November 13, 2025 Ⓒ HAKUHODO DY Holdings Inc, All Rights Reserved. | CONFIDENTIAL
Slide 2: Highlights of Consolidated Results for H1 FY2025
Highlights of Consolidated Results for H1 FY2025 Ⓒ HAKUHODO DY Holdings Inc, All Rights Reserved. | CONFIDENTIAL
Slide 3: H1 FY2025 Consolidated Results
H1 FY2025 Consolidated Results • Due to the effect of changes in the scope of consolidation and a reactionary decline from the gain on the sale of Mercari, Inc. shares recorded in the previous fiscal year, billings decreased by 5.5% YoY. • While gross profit decreased by 2.0% YoY, operating income i
Slide 4: H1 FY2025 Consolidated Results (After Adjustments) 1
H1 FY2025 Consolidated Results (After Adjustments) 1 • Billings decreased by 5.1% YoY. Gross profit decreased by 0.2% YoY. The gross margin improved by 1.3 percentage points. • SG&A expenses decreased by 3.1% YoY. Operating income increased by ¥5.1 billion to ¥10.7 billion. • Operating income before
Slide 5: H1 FY2025 Consolidated Results (After Adjustments) 2
H1 FY2025 Consolidated Results (After Adjustments) 2 ⚫ The operating income after adjustments and before amortization of goodwill for H1 recorded an increase of ¥1.9 billion in Japan/Corporate and ¥1.2 billion in Overseas. • Japan/Corporate: In Japan, the top line fell below the previous year’s leve
Slide 6: Guidance for FY2025
Guidance for FY2025 © Hakuhodo DY Holdings Inc. All rights reserved.
Slide 7: Guidance for FY2025
Guidance for FY2025 ⚫ The guidance for the full fiscal year ending March 2026 remains unchanged from the previous forecast. Guidance for FY2025 （Millions of JPY） Forecast YoY Billings 1,650,000 +2.3% Revenue 970,000 +1.8% Operating Income 40,000 +6.4% Ordinary Income 43,000 +0.8% Net Income Attribut
Slide 8: Shareholder Returns for FY2025
Shareholder Returns for FY2025 © Hakuhodo DY Holdings Inc. All rights reserved.
Slide 9: Shareholder Returns
Shareholder Returns 1. Dividend forecast for FY2025 (ending March 2026) • The Board of Directors resolved today (November 13, 2025) to set the interim dividend at ¥16 per share. • The forecast for the annual dividend remains unchanged at ¥32 per share, including the interim dividend. 2. Status of ac
Slide 10: Summary of H1 FY2025 Results
Summary of H1 FY2025 Results ⚫ Consolidated results for H1 FY2025 were characterized as higher income on lower billings. Profitability (gross margin and operating margin (OM)) improved. • The top line decreased due to factors such as the impact of changes in the scope of consolidation and a reaction
Slide 11: Progress of Medium-Term Business Plan
Progress of Medium-Term Business Plan Ⓒ HAKUHODO DY Holdings Inc, All Rights Reserved.
Slide 12: Medium-Term Business Plan (FY2024–2026)
Medium-Term Business Plan (FY2024–2026) Our goal: creativity platform ✓ With sei-katsu-sha-centered creativity as our edge, the Hakuhodo DY Group aims to be a group that creates the future by Medium-term connecting sei-katsu-sha, organizations and society to generate new relationship value. strategy
Slide 13: Medium-Term Business Plan: Outline of Progress in H1 FY2025
Medium-Term Business Plan: Outline of Progress in H1 FY2025 Medium-term H1 FY2025 result1) targets (vs. PY in parentheses) Note (to be achieved by FY2026) CAGR2) of operating income after adjustments3) and before amortization of goodwill At least +10% +140％ (+22.7%) CAGR2) of gross profit after adju
Slide 14: Accelerating Business Growth through the Utilization of AI
Hakuhodo DY Group Accelerating Business Growth through the Utilization of AI © 2025 Hak uhodo DY Holdings Inc. All rights reserved.
Slide 15: Human-Centered AI
Human-Centered AI Designing AI Technology Around the Sei-Katsu-Sha Ⓒ HAKUHODO DY Holdings Inc, All Rights Reserved. © 2025 Hakuhodo DY Holdings Inc. All rights reserved. | CONFIDENTIAL 15
Slide 16: Creativity Platform
Our Goal Creativity Platform Marketing Business Consulting Technology Business Business Content Incubation Business Business Global Business Ⓒ HAKUHODO DY Holdings Inc, All Rights Reserved. © 2025 Hakuhodo DY Holdings Inc. All rights reserved. | CONFIDENTIAL 16
Slide 17: AI Utilization and AI Business Cases Across Six Business Domains
AI Utilization and AI Business Cases Across Six Business Domains Marketing Business Consulting Business Technology Business Driving Enhancement and Efficiency through Utilization AI × Design Thinking Multi-AI Agent System: "Nomatica" of AI Agents ✓ • Strategy ✓ • Media ✓ • Creative Launch of "AI Bus
Slide 18: AI×Marketing Business
AI×Marketing Business The total usage across the tools has exceeded 10,000 users group-wide, thereby driving enhancement and efficiency. Strategy Media Creative AI for Strategic Planning Support AI for Media Planning Support AI for Commercial Production Support Expert AI agents trained on the practi
Slide 19: AI×Marketing Business
AI×Marketing Business Established "AI Craft Studio", Revolutionizing the Visual Production Workflow with Human and AI Creativity We have established a next-generation creative structure by creating a new role, the "Generator" , as AI specialist, which fuses AI expertise with traditional expertise. T
Slide 20: AI×Consulting Business
AI×Consulting Business Launch of "AI × Design Thinking Programs" IDEO offers programs where participants learn how to utilize AI in Design Thinking to enhance creativity and drive innovation. Consulting services catalyzed by AI are booming. SY Partners promotes the utilization of AI in management st
Slide 21: AI×Technology Business
AI×Technology Business Nomatica: A SaaS-Based AI Service A multi-AI agent system where multiple expert AI agents mutually collaborate to provide specialized answers and diverse ideas. The number of companies implementing the system is currently expanding. Launch of the "AI business assessment" servi
Slide 22: AI×Content Business
AI×Content Business NMOPQrstu 【ペルソナとユーザーの声】 ペルソナ1 - **年齢:** 20代 - **性別:** 女性 Offering "Influencer Power Measurement," - **性格:** 明るく好奇心旺盛。KKKKのファンで、メン サムネール 画像 バー全員が好きだが、特にAさんのファン。 - **ユーザーの声:**「Aさん最高！面白すぎて何回も見 てしまう！Cさんの占いも面白くて、2人のやり取りに爆 a Generative AI solution for visualizing 笑しちゃった！JJJJも動画って初めて見たけ
Slide 23: AI×Incubation Business
AI×Incubation Business Hakuhodo DY Ventures participates in Third Intelligence’s funding round, investing in Japan's AI evolution. We have participated as an underwriter in the third-party allotment of approximately ¥8 billion, which was implemented by Third Intelligence, Inc., an AI research and pr
Slide 24: AI×Global Business
AI×Global Business Kip (Kepler Intelligence Platform） Developed by Kepler, a member of kyu Pulse, Kip(Kepler Intelligence Platform) enables AI-enhanced audience insights, media campaign optimization, and workflow automation. It stands as an industry-leading tool. Implementing Kip Across kyu Pulse to
Slide 25: Enhancing productivity and expanding creativity centered on Sei-Katsu-Sha Insight
We are focused on two goals: enhancing productivity and expanding creativity. Both are centered on Sei-Katsu-Sha Insight, the core strength of the Hakuhodo DY Group. We build a Group-wide "Sei-Katsu-Sha Insight Platform" that extends beyond the marketing business to augment the creativity of all Gro
Slide 26: Building the "Sei-Katsu-Sha Insight Platform"
Building the "Sei-Katsu-Sha Insight Platform" A proprietary platform that fuses over 40 years of Sei-Katsu-Sha research knowledge and extensive Sei-Katsu-Sha data with AI technology. It offers insights and ideation support through dialogue with AI. Sei-Katsu-Sha Insight Platform Sei-Katsu-Sha Human-
Slide 27: An Example of the Sei-Katsu-Sha Insight Platform
An Example of the Sei-Katsu-Sha Insight Platform Evidence- Based Virtual Sei-Katsu-Sha Generating highly realistic, market-data-driven Virtual Sei-Katsu-Sha by leveraging proprietary prompt technology that replicates the exquisite insight work of Hakuhodo DY Group experts, combined with Sei-Katsu-Sh
Slide 28: Creativity Platform
Our Goal Creativity Platform Marketing Business Consulting Technology Business Business Content Incubation Business Business Global Business Ⓒ HAKUHODO DY Holdings Inc, All Rights Reserved. © 2025 Hakuhodo DY Holdings Inc. All rights reserved. | CONFIDENTIAL 28
Slide 29: Appendix
Appendix © Hakuhodo DY Holdings Inc. All rights reserved.
Slide 30: Related Topics
Related Topics ⚫ We advanced the Virtual Sei-katsu-sha prototype, originally unveiled in March 2024, through enhancements in both data and technology. ⚫ Enables deeper and more diverse insights through dialogue with highly realistic “virtual sei-katsu-sha,” which are true to market data. Augmenting
Slide 31: Related Topics
Related Topics ⚫ Accelerating the revolution of ad creative through joint research with Matsuo Institute, Inc. ⚫ Ensuring ethical considerations and transparency in AI utilization to contribute to new value creation and the healthy development of the market Transforming ad creative expression with g
Slide 32: Related Topics
Related Topics ⚫ Driving the enhancement of our business foundation by expanding new models for our integrated marketing platform ⚫ Fostering a culture of cross-generational co-creation through the “AI Mentoring” program, where younger employees coach executive leadership New model launched for the
Slide 33: Sustainability: Initiatives on Human Rights and DE&I
Sustainability: Initiatives on Human Rights and DE&I ⚫ We set objectives on human rights, DE&I and gender equality to promote action on gender-related issues. ⚫ Concrete initiatives included the establishment of systems for LGBTQ+ and external outreach toward a “society for all.” Establishment of sy
Slide 34: Interim Income Statements
Interim Income Statements Japanese GAAP-basis Interim Income Statements for H1 FY2025 YTD（6-Month） by Quarter（3-Month） （Millions of JPY） Actual YOY Q1 YOY Q2 YOY Billings 695,023 -40,369 -5.5% 339,011 -3.8% 356,012 -7.0% Revenue 366,131 -61,722 -14.4% 169,820 -15.2% 196,310 -13.7% Gross Profit 179,9
Slide 35: Results After Adjustments
Results After Adjustments H1 FY2025 YTD（6-Month） by Quarter（3-Month） Results After Adjustments （Millions of JPY） Actual YOY Q1 YOY Q2 YOY Billings 695,023 -37,103 -5.1% 339,011 -2.9% 356,012 -7.0% Gross Profit 179,933 -356 -0.2% 85,815 +0.0% 94,117 -0.4% Gross Margin 25.9% +1.3pt 25.3% +0.7pt 26.4%
Slide 36: Results by Region
Results by Region H1 FY2025 （Millions of JPY） Actual YOY Japan Billings 598,081 -27,145 -4.3% Revenue 269,188 -48,498 -15.3% Gross Profit 131,733 -1,725 -1.3% SG&A Expenses 102,501 -1,488 -1.4% Operating Income 29,232 -237 -0.8% Overseas Billings 101,313 -13,708 -11.9% Revenue 101,313 -13,708 -11.9%
Slide 37: Results by Region (YTD, by Quarter)
Results by Region (YTD, by Quarter) H1 FY2025 YTD（6-Month） by Quarter（3-Month） Japan (After Adjustments) （Millions of JPY） YTD Actual YOY Q1 YOY Q2 YOY Billings 598,081 -23,879 -3.8% 294,367 -1.2% 303,713 -6.3% Gross Profit 131,733 +1,530 +1.2% 61,983 +1.2% 69,749 +1.2% Gross Margin 22.0% +1.1pt 21.
Slide 38: Results by Region (Japan: After Adjustments)
Results by Region (Japan: After Adjustments) H1 FY2025 (Millions of JPY) Actual YOY Gross Profit & Operating Income before Amortization of Goodwill by Quarter Billings 598,081 -23,879 -3.8% (Millions of JPY) Gross Profit 131,733 +1,530 +1.2% Gross Margin 22.0% +1.1pt SG&A Expenses 102,501 -1,488 -1.
Slide 39: Results by Region (Overseas)
Results by Region (Overseas) H1 FY2025 (Millions of JPY) Actual YOY Gross Profit & Operating Income before Amortization of Goodwill by Quarter Billings 101,313 -13,708 -11.9% (Millions of JPY) Gross Profit 50,857 -2,172 -4.1% Gross Margin 50.2% +4.1pt SG&A Expenses 53,477 -5,196 -8.9% Operating Inco
Slide 40: Japan: Billings by Type of Service
Japan: Billings by Type of Service H1 FY2025 (Millions of JPY) Actual YOY Composition Newspaper 10,724 -867 -7.5% 1.8% Magazine 2,462 -517 -17.4% 0.4% Radio 3,878 -403 -9.4% 0.7% Television 160,333 -15,576 -8.9% 27.6% Traditional Media Service Subtotal 177,400 -17,364 -8.9% 30.5% Internet Media 172,
Slide 41: Billings by Type of Service (YTD, by Quarter)
Billings by Type of Service (YTD, by Quarter) H1 FY2025 YTD（6-Month） by Quarter（3-Month） （Millions of JPY） YTD Actual YOY Q1 YOY Q2 YOY Newspaper 10,724 -867 -7.5% 5,113 -7.6% 5,611 -7.4% Magazine 2,462 -517 -17.4% 1,121 -14.9% 1,341 -19.3% Radio 3,878 -403 -9.4% 1,908 -13.4% 1,970 -5.3% Television
Slide 42: Japan: Billings by Client Industry
Japan: Billings by Client Industry H1 FY2025 （Millions of JPY） Actual YOY Composition Information/Communications 66,256 -5,407 -7.5% 12.4% Restaurants/Services 56,228 +1,672 +3.1% 10.5% Beverages/Cigarettes/Luxury foods 55,980 +1,369 +2.5% 10.5% Automobiles/Related products 42,256 -1,860 -4.2% 7.9%
Slide 43: Japan: Billings by Client Industry
Japan: Billings by Client Industry ⚫ Positive Industries Finance/Insurance H1 FY2025 Actual ¥ 41.2B YoY +¥ 5.4B (+15.3%) Medical services/Education/Religion ¥ 8.4B YoY +¥ 2.3B (+39.6%) ⚫ Negative Industries Government/Organizations H1 FY2025 Actual ¥ 12.4B YoY -¥15.8B (-56.0%) Distribution/Retailing
Slide 44: Japan: Billings by Client Industry (by Quarter) 1
Japan: Billings by Client Industry (by Quarter) 1 (Millions of JPY) Refer to the Notes on p.52 for the change in the companies included in the calculation of billings by client industry. © Hakuhodo DY Holdings Inc. All rights reserved. 44 YoY figures for the FY2023 and FY2024 are based on data prior
Slide 45: Japan: Billings by Client Industry (by Quarter) 2
Japan: Billings by Client Industry (by Quarter) 2 (Millions of JPY) Refer to the Notes on p.52 for the change in the companies included in the calculation of billings by client industry. © Hakuhodo DY Holdings Inc. All rights reserved. YoY figures for the FY2023 and FY2024 are based on data prior to
Slide 46: Japan: Billings by Client Industry (by Quarter) 3
Japan: Billings by Client Industry (by Quarter) 3 (Millions of JPY) Refer to the Notes on p.52 for the change in the companies included in the calculation of billings by client industry. © Hakuhodo DY Holdings Inc. All rights reserved. 46 YoY figures for the FY2023 and FY2024 are based on data prior
Slide 47: Japan: Billings by Client Industry (by Quarter) 4
Japan: Billings by Client Industry (by Quarter) ４ (Millions of JPY) Refer to the Notes on p.52 for the change in the companies included in the calculation of billings by client industry. © Hakuhodo DY Holdings Inc. All rights reserved. 47 YoY figures for the FY2023 and FY2024 are based on data prior
Slide 48: Selling, General & Administrative Expenses
Selling, General & Administrative Expenses H1 FY2025 （Millions of JPY） Actual YOY Major Change Factors in SG&A Expenses (Millions of JPY) Personnel 114,038 -3,275 -2.8% H1 FY2024 SG&A Expenses 174,670 Rent 9,548 -765 -7.4% Change in scope of consolidation -1,447 Depreciations 5,815 +625 +12.0% Amort
Slide 49: Other Income/Loss & Extraordinary Items
Other Income/Loss & Extraordinary Items H1 FY2025 Other Income/Loss （Millions of JPY） Actual YOY Non-operating Income 2,465 -1,607 Interest Income 341 -57 Dividend Income 1,347 -28 Investment Partnership Income - -1,257 Non-operating Expenses 2,511 -638 Interest Expenses 662 +81 Foreign Exchange Los
Slide 50: Balance Sheet
Balance Sheet （Millions of JPY） As of Sep. 30, 2025 Change * Composition Current Assets 542,216 -171,057 61.6% Cash & Deposits 124,458 -87,046 Notes and Accounts Receivable 326,298 -87,052 Non-current Assets 338,069 +1,151 38.4% Tangible Assets 53,252 -4,539 Intangible Assets 89,156 -10,454 Goodwill
Slide 51: Cash Flow Statements
Cash Flow Statements H1 FY2025 （Millions of JPY） Actual YOY Cash Flows from Operating Activities -53,351 -54,827 Cash Flows from Investing Activities -18,833 -5,371 Purchase of Property, Plant and Equipment -1,530 +70 Purchase of Intangible Assets -3,854 +1,167 Purchase of Investment Securities -2,5
Slide 52: Cautionary Statements Concerning Forward-looking Statements
Cautionary Statements Concerning Forward-looking Statements, Change in Accounting Standards & Note Concerning Audits Cautionary Statements Concerning Forward-looking Statements This presentation includes forward-looking statements concerning forecasts of operating results, business plans and policie
Slide 53: Ⓒ HAKUHODO DY Holdings Inc, All Rights Reserved. | CONFIDENTIAL
Ⓒ HAKUHODO DY Holdings Inc, All Rights Reserved. | CONFIDENTIAL