Ly Corporation · TSE:4689
Ly — Yahoo Japan — FY2017 Earnings Presentation
85 slides from Ly's earnings presentation, Apr 27, 2018
Slide 1: Yahoo Japan Corporation FY2017 Full Year & 4Q Business Results
Yahoo Japan Corporation FY2017 Full Year & 4Q Business Results (Apr. 2017-Mar. 2018/Jan.-Mar. 2018) April 27, 2018
Slide 2: Table of Contents
Table of Contents P. 4 FY2017 Full Year Financial Highlights P. 15 Usage Trend of Services P. 31 Measures for FY2018 and Beyond P. 53 Supplemental Information P. 54 FY2017-4Q Financial Highlights Unless otherwise specified, English-language documents are prepared solely for the convenience of non-Ja
Slide 3: Forward-looking statements
Statements made at the meeting or included in the documents that are not historical facts are forward-looking statements about the future performance of Yahoo Japan Corporation (Company, Yahoo! JAPAN) and its consolidated subsidiaries and affiliates. The Company cautions you that a number of importa
Slide 4: FY2017 Full Year Financial Highlights
FY2017 Full Year Financial Highlights 4
Slide 5: Executive Summary for FY2017 (1)
Executive Summary for FY2017 (1) Actual results YoY Revenue 897.1 (¥B) +5.1% Operating income 185.8 (¥B) -3.2% EBITDA 228.0 (¥B) -6.2% Net income attributable to owners of the parent 131.1 (¥B) -4.0% Diluted EPS ¥23.0 -4.0% FY2017 year-end cash dividends forecast (per share) ¥8.86 Same as last FY 5
Slide 6: Executive Summary for FY2017 (2)
Executive Summary for FY2017 (2) Actual results YoY Via smartphones Advertising-related revenue 303.4 (¥B) +5.9% 55.7% Total domestic e-commerce transaction value*1 2.10 (¥T) +13.7% 52.9%*2 Number of monthly active user IDs*3 43.92 +12.7% (Million) Number of Yahoo! Premium member IDs*4 19.79 +56.9%
Slide 7: Executive Summary for FY2017
Executive Summary for FY2017 Media Business -Advertising-related revenue exceeded ¥300 billion for the first time. -Video contents are increasing steadily. -No.1 in smartphone app download ranking in Japan*1 for two consecutive years. Commerce Business -Total domestic e-commerce transaction value su
Slide 8: Full Year Revenue
Full Year Revenue (¥Billion) Up 21 consecutive years ¥897.1 billion YoY +5.1% 1,000 since the start of services 853.7 Revenue of ASKUL Group Revenue excluding ASKUL Group 652.3 500 518.9 546.1 463.3 0 FY2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 JGAAP IFRS Gross basis
Slide 9: Full Year Revenue Breakdown
Full Year Revenue Breakdown (¥Billion) 853.7 897.1 Media Business -1.3 24.4 25.7 YoY +2.6% 226.1 +19.2 245.4 Increase in paid search advertising revenue Commerce Business 334.8 +16.2 351.0 Revenue of ASKUL Group YoY +6.3% Excluding ASKUL Group YoY +8.5% Increase in Shopping-related advertising reven
Slide 10: Full Year Operating Income
Full Year Operating Income Operating income decreased due to proactive sales promotional activities, etc. ¥185.8 billion (¥Billion) YoY -3.2% 300 Operating income of ASKUL Group Operating income excluding ASKUL Group 224.9 192.0 200 100 201.4 174.8 161.3 0 FY2003 2004 2005 2006 2007 2008 2009 2010 2
Slide 11: Sales Promotional Activities
Sales Promotional Activities Spent ¥56 billion in FY2017 (¥Billion) FY2015 FY2016 FY2017 FY2017 Rough breakdown Shopping 40% 19.3 Auction 20% 18.6 Membership Services* 15% 14.9 13.7 13.3 10.9 12.7 Financial & Payment 15% 9.5 8.5 Media 10% 6.5 4.2 5.2 1Q 2Q 3Q 4Q 11 Note: Total of sales promotion cos
Slide 12: FY2017 Additional Investment (Results)
FY2017 Additional Investment (Results) 1Q 2Q 3Q 4Q (¥Billion) Results / Plan To maximize e-Commerce transaction 3.9*2 *2 8.3 6.2 4.7 23.1 value*1 25.0 To become a data- 11.6 driven 1.9 2.1 3.2 4.4 15.0 company*3 0% 100% *1 Includes decrease in profit as a result of decrease in revenue due to offsett
Slide 13: Full Year - Factors of Change in Operating Income
Full Year - Factors of Change in Operating Income (¥Billion) Business growth and improved efficiency 192.0 ＋ YoY difference due to one-time factors* 185.8 Investment to maximize ＋ e-Commerce transaction value Investment to become a data-driven company FY2016 FY2017 * Includes loss related to the fir
Slide 14: Full Year Consolidated Cash Flows
Full Year Consolidated Cash Flows FY2017 Factors of Change Cash and Cash Equivalents (¥Billion) Beginning of FY 543.0 ・ Income before income taxes Operating activities +75.4 ・ Increase in loan for Credit card business ・ Payment of income taxes, etc. Investing activities -104.6 ・ Capital investment,
Slide 15: Usage Trend of Services
Usage Trend of Services 15
Slide 16: Media Business
Media Business 16
Slide 17: Daily Unique Browsers
Daily Unique Browsers (Million) Smartphones*1 90.61 90.53 PC+Others *2 84.51 DUB via smartphones 74.93 62.83 exceeded 51.43 58.52 60.58 27.09 40.94 60 million for the first time FY2013 FY2014 FY2015 FY2016 FY2017 *1 FY average; includes accesses to Yahoo! JAPAN via applications and browsers. Access
Slide 18: Number of Monthly Active User IDs
Number of Monthly Active User IDs (Million) 43.92 YoY 28.49 29.90 33.90 38.98 +13% March March March March March 2014 2015 2016 2017 2018 18 Note: Number of Yahoo! JAPAN IDs logged-in in each month
Slide 19: Ranking for the Cumulative Number of Smartphone Application Downloads
Ranking for the Cumulative Number of Smartphone Application Downloads 1. Yahoo! JAPAN 2017 Domestic Application Publishers Ranking in Japan 2. Google for All Downloads* 3. LINE No.1 4. NTT for 2 consecutive years 5. Facebook 19 * Source: “App Annie 2017 Retrospective Report” (iOS and Google Play com
Slide 20: Advertising-Related Revenue
Advertising-Related Revenue (¥Billion) Display Paid search 303.4 286.4 266.9 249.8 232.5 146.5 155.5 Exceeded 97.7 126.4 81.7 ¥300 billion 150.8 152.0 140.4 139.8 147.8 for the first time FY2013 FY2014 FY2015 FY2016 FY2017 20
Slide 21: Commerce Business
Commerce Business 21
Slide 22: Number of Yahoo! Premium Member IDs
Number of Yahoo! Premium Member IDs (Million) 19.79 YoY 9.87 10.77 11.74 12.61 1.6x FY2013 FY2014 FY2015 FY2016 FY2017 (end of FY) Note: SoftBank members and Y!mobile members, etc., who are eligible for Yahoo! Premium privileges. Overlap in IDs is excluded. 22
Slide 23: Shopping Transaction Value
Shopping Transaction Value (¥Billion) 627.6 YoY 378.6 478.8 +31% 250.9 266.3 FY2013 FY2014 FY2015 FY2016 FY2017 23 Note: Includes transaction values of Yahoo! Shopping, LOHACO and Charm Co., Ltd. LOHACO’s transaction value is the transaction value (closing date: 20th of every month) of LOHACO busine
Slide 24: Yahoo! Shopping - Annual Number of Buyers
Yahoo! Shopping - Annual Number of Buyers Significant increase FY2013 FY2014 FY2015 FY2016 FY2017 24 Note: Number of buyers is the number of IDs of buyers who purchased at least once in Yahoo! Shopping in the fiscal year.
Slide 25: Yahoo! Shopping - Transaction Value
Yahoo! Shopping - Transaction Value Others Yahoo! Premium members Transaction value generated by Yahoo! Premium members 72% FY2013 FY2014 FY2015 FY2016 FY2017 25
Slide 26: Shopping-Related Advertising Revenue
Shopping-Related Advertising Revenue (¥Billion) 25.5 Announced e-Commerce strategy Expanded 17.3 7x 3.8 4.3 8.4 from FY2013 FY2013 FY2014 FY2015 FY2016 FY2017 Note: Total of Yahoo Japan Corporation’s non-consolidated Shopping-related advertising revenue; advertising revenue of StoreMatch, an adverti
Slide 27: Auction-Related Transaction Value
Auction-Related Transaction Value (¥Billion) 942.6 Surpassed 753.2 818.1 866.7 896.6 ¥900 billion for the first time FY2013 FY2014 FY2015 FY2016 FY2017 Note: Includes transaction values of: YAHUOKU!, tradecarview (https://www.tradecarview.com/), BOOKOFF Online (http://www.bookoffonline.co.jp/), Yaho
Slide 28: Yahoo! Wallet Transaction Value
Yahoo! Wallet Transaction Value (¥Billion) 1368.8 Expanded to ¥1.4T 1207.0 642.1 873.2 approx. 578.4 FY2013 FY2014 FY2015 FY2016 FY2017 28 Note: Includes payments using T Points and Yahoo! Money.
Slide 29: Number of Valid Credit Card Holders
Number of Valid Credit Card Holders (Million) 4.68 Launched Yahoo! JAPAN Card Expanded 3.60 8x 2.21 from FY2014 0.59 FY2014 FY2015 FY2016 FY2017 (end of FY) Note: Number of card holders who can purchase goods and receive services, etc., using the card. 29 Includes card holders of KC Card, Yahoo! JAP
Slide 30: Credit Card Transaction Value
Credit Card Transaction Value (¥Billion) 954.6 Launched Yahoo! JAPAN Card Expanded 581.5 15x 62.5 218.9 from FY2014 FY2014 FY2015 FY2016 FY2017 Note: Excludes cash advance service. 30 Includes card holders of KC Card, Yahoo! JAPAN Card and SoftBank Card (“Omakase charge”).
Slide 31: Measures for FY2018 and Beyond
Measures for FY2018 and Beyond 31
Slide 32: Internet Has Infinite Growth Potential; Build a Future Only Yahoo! JAPAN Can Create
Internet Has Infinite Growth Potential; Build a Future That Only Yahoo! JAPAN Can Create 32
Slide 33: Yahoo! JAPAN's Strength: Comprehensive Grasp of User Actions
Yahoo! JAPAN’s Strength: Comprehensive Grasp of User Actions Encounter Media Ad Enjoy Explore Strengthen synergies Search Service Contents "Conversion media" among services Data Commerce for further growth Pay Purchase New Wallet Shopping businesses cart 33
Slide 34: Aim to Become No. 1 in Three Areas
Aim to Become No. 1 in Three Areas Bold injection of management resources with mid- to long-term perspective No.1 No.1 No.1 in in in EC transaction value Internet ad sales mobile payment (sale of goods) transaction value ｘ 34
Slide 35: Aim to Become No. 1 in Three Areas
Aim to Become No. 1 in Three Areas Bold injection of management resources with mid- to long-term perspective No.1 No.1 No.1 in in in EC transaction value Internet ad sales mobile payment (sale of goods) transaction value ｘ 35
Slide 36: Definition of EC Transaction Value (Sale of Goods)
Definition of EC Transaction Value (Sale of Goods) Item Main services and businesses YAHUOKU!, tradecarview, BOOKOFF Online, Auction-related Yahoo! Tickets and others Shopping Yahoo! Shopping, LOHACO, Charm Co., Ltd. business ASKUL’s BtoB ASKUL Corporation’s BtoB-related business business (via Inter
Slide 37: Trend of EC Transaction Value (Sale of Goods)
Trend of EC Transaction Value (Sale of Goods) (¥Trillion) Approx. Consolidation of ASKUL Corporation 1.8 Aim to become 1.3 1.5 No. 1 in 1.0 1.0 EC (sale of goods） FY2013 FY2014 FY2015 FY2016 FY2017 37
Slide 38: Strategies to Expand Shopping Transaction Value
Strategies to Expand Shopping Transaction Value Current measure Quality improvement as a marketplace Increase Variety of Improve spending per products UI/UX customer of Premium ＋ members Collaboration (incl. SoftBank members) with Payment brick & mortar 38
Slide 39: Aim to Become No. 1 in Three Areas
Aim to Become No. 1 in Three Areas Bold injection of management resources with mid- to long-term perspective No.1 No.1 No.1 in in in EC transaction value Internet ad sales mobile payment (sale of goods) transaction value ｘ 39
Slide 40: Overview: To Become No.1 in Internet Ad Sales
Overview: To Become No.1 in Internet Ad Sales Maximize DAU & time spent Enhance good-quality contents Optimize/maximize Personalization ad reach Re-invent UI/UX Maximize Improve ad products advertising effects Sit amet lorem Tortor ligula Maximize conversion opportunities 40
Slide 41: Further Increase Video Contents
Further Increase Video Contents Maximize DAU and time spent 41
Slide 42: Enhancement of Video Ads Will Be the Growth Driver
Enhancement of Video Ads Will Be the Growth Driver Maximize advertising effects 42
Slide 43: Aim to Become No. 1 in Three Areas
Aim to Become No. 1 in Three Areas Bold injection of management resources with mid- to long-term perspective No.1 No.1 No.1 in in in EC transaction value Internet ad sales mobile payment (sale of goods) transaction value ｘ 43
Slide 44: Number of Yahoo! Wallet Accounts
Number of Yahoo! Wallet Accounts (Million) 39.87 Strong user base in 30.54 33.47 36.53 online payment 26.46 (end of FY) FY2013 FY2014 FY2015 FY2016 FY2017 44
Slide 45: Further Growth through Entry into Offline Payment
Further Growth through Entry into Offline Payment FY2018 Schedule Functions April Payment of tax and utility bills using barcodes “Display” payment: Users will show barcodes June displayed in Yahoo! JAPAN app to devices and cash registers in stores “Read” payment: Users will scan barcodes Autumn dis
Slide 46: Payment Service That Can Be Used Anywhere
Payment Service That Can Be Used Anywhere More merchants using our Focus area Aim to become for FY2018 payment service No.1 in More transaction value transaction More users of online & offline value payment services 46
Slide 47: FY2018 Operating Income (Estimate)
FY2018 Operating Income (Estimate) 47
Slide 48: FY2018 - Expenses for New Challenges
FY2018 - Expenses for New Challenges Approx.(¥B) Media-related 10 Contents procurement-related expenses, etc. Commerce-related 20 Expenses for launching mobile payment, etc. 48
Slide 49: FY2018 - Factors of Change in Operating Income
FY2018 - Factors of Change in Operating Income (¥Billion) Business growth and 185.8 improved efficiency 170.3 ＋ Increase in 170.3 personnel FY2017 Increase in One-time expenses facility-related expenses, etc. 130.0~ factors* -30.0 140.0 FY2018 Expense for new challenges FY2017 results FY2017 results
Slide 50: Targeted Operating Income Composition by Business Segments
Targeted Operating Income Composition by Business Segments - Commerce business = Media business - Larger income contribution by new businesses New Businesses Commerce Commerce Business Business Media Business Media Business FY2017 FY202x 50
Slide 51: Yahoo! JAPAN Will Create the Internet's Future!
Yahoo! JAPAN Will Create the Internet's Future! 51
Slide 52: Notice: IR Day on May 23 (plan)
Notice IR Day on May 23 (Wed) (plan) Speakers CEO Kentaro KAWABE President of Media Company 提案 Gen MIYAZAWA President of Commerce Company Takao OZAWA （&与信） CTO/President of Technology Group Chiaki FUJIMON Details are posted on our Investor Relations website https://about.yahoo.co.jp/ir/en/ 52
Slide 53: Supplemental Information
Supplemental Information 53
Slide 54: FY2017-4Q Financial Highlights
FY2017-4Q Financial Highlights 54
Slide 55: Executive Summary for FY2017-4Q
Executive Summary for FY2017-4Q Actual results YoY Via smartphones Revenue 238.3 (¥B) +7.0% Operating income 38.0 (¥B) -4.7% EBITDA 48.4 (¥B) -23.2% Net income attributable to owners of the parent 28.0 (¥B) -11.9% Diluted EPS ¥4.9 -11.9% Advertising-related revenue 80.7 (¥B) +2.7% 57.1% Display adve
Slide 56: Executive Summary for FY2017-4Q
Executive Summary for FY2017-4Q Media Business -Paid search advertising revenue grew approx. 5% YoY. Commerce Business -Shopping transaction value*1 grew 22% YoY. -Number of monthly paid-membership IDs exceeded 26 million. -Credit card transaction value*2 increased 41% YoY. *1 Includes transaction v
Slide 57: Quarterly Revenue
Quarterly Revenue (¥Billion) ¥238.3 billion 300 Revenue of ASKUL Group YoY +7.0% Revenue excluding ASKUL Group 222.7 207.0 200 100 137.5 143.7 122.7 0 FY2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 4Q 4Q 4Q 4Q 4Q 4Q 4Q 4Q 4Q 4Q 4Q 4Q 4Q 4Q 4Q JGAAP IFRS Gross basis Net
Slide 58: Quarterly Revenue Breakdown
Quarterly Revenue Breakdown (¥Billion) Media Business 222.7 238.3 -0.2 5.8 YoY +1.1% 6.1 Increase in paid search advertising revenue 58.8 +5.1 64.0 Commerce Business Revenue of YoY +10.1% +9.3 ASKUL 85.2 94.6 Group Excluding ASKUL Group YoY +8.8% Increase in Shopping-related advertising revenue Incr
Slide 59: Quarterly Operating Income
Quarterly Operating Income (¥Billion) ¥38.0 billion Operating income of ASKUL Group YoY -4.7% Operating income excluding ASKUL Group 50 39.8 29.9 50.8 35.4 27.7 0 FY2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 4Q 4Q 4Q 4Q 4Q 4Q 4Q 4Q 4Q 4Q 4Q 4Q 4Q 4Q 4Q JGAAP IFRS Note
Slide 60: Quarterly Factors of Change in Operating Income
Quarterly Factors of Change in Operating Income (¥Billion) Increase in advertising revenue etc.* Impact of fire incident at the Logistics Center ＋ of ASKUL Corporation 52.8 39.8 ＋ Increase in costs Investment to 38.0 associated with maximize Investment to business e-Commerce become growth transactio
Slide 61: Media Business: Advertising Media
Media Business Advertising Media 61
Slide 62: Advertising-Related Revenue
Advertising-Related Revenue (¥Billion) Display 78.6 80.7 Paid search 69.3 71.7 63.9 41.6 24.4 29.6 37.0 41.2 YoY 39.4 39.7 34.6 37.3 39.0 +3% FY2013 FY2014 FY2015 FY2016 FY2017 4Q 4Q 4Q 4Q 4Q 62
Slide 63: Media Business: Advertising Media
Media Business Advertising Media 63
Slide 64: DAU of All Applications
DAU of All Applications (Million) 43.19 YoY 36.54 40.30 43.94 42.54 +18% FY2016 FY2017 4Q 1Q 2Q 3Q 4Q Note: Quarterly average of the number of users who browsed smartphone applications offered by Yahoo! JAPAN at least once a day. 64 Users are counted separately for each smartphone application, even
Slide 65: Video Viewing Time
Video Viewing Time YoY 4.7x FY2016 FY2017 4Q 1Q 2Q 3Q 4Q 65 Note: Quarterly total of video viewing time in Yahoo! JAPAN services excluding GYAO!. * Survey by Yahoo Japan Corporation
Slide 66: Commerce Business
Commerce Business Membership Shopping Auction Financial & Payment 66
Slide 67: Number of Monthly Paid-Membership IDs
Number of Monthly Paid-Membership IDs (Million) Others Yahoo! Premium members 26.04 17.73 15.46 16.73 YoY 14.60 10.77 11.74 12.61 19.79 +47% 9.87 March March March March March (end of month) 2014 2015 2016 2017 2018 Note: Number of monthly paid-membership IDs is the total of Yahoo! Premium members,
Slide 68: Commerce Business
Commerce Business Membership Shopping Auction Financial & Payment 68
Slide 69: Shopping Transaction Value
Shopping Transaction Value (¥Billion) 166.5 YoY 71.6 69.7 112.8 137.0 +22% FY2013 FY2014 FY2015 FY2016 FY2017 4Q 4Q 4Q 4Q 4Q 69 Note: Includes transaction values of Yahoo! Shopping, LOHACO and Charm Co., Ltd. LOHACO’s transaction value is the transaction value (closing date: 20th of every month) of
Slide 70: Yahoo! Shopping - Number of Buyers
Yahoo! Shopping - Number of Buyers New buyers Repeat buyers YoY Approx. +40% FY2013 FY2014 FY2015 FY2016 FY2017 4Q 4Q 4Q 4Q 4Q Note: Number of new buyers is the number of IDs of buyers who purchased for the first time, and of buyers whose purchase was made after a lapse of one year or more. 70 Numbe
Slide 71: Yahoo! Shopping - Transaction Value
Yahoo! Shopping - Transaction Value Others Yahoo! Premium members Transaction value generated by Yahoo! Premium members 76% FY2013 FY2014 FY2015 FY2016 FY2017 4Q 4Q 4Q 4Q 4Q 71
Slide 72: Shopping-Related Advertising Revenue
Shopping-Related Advertising Revenue (¥Billion) 6.7 YoY 2.6 5.4 +24% 0.8 1.1 FY2013 FY2014 FY2015 FY2016 FY2017 4Q 4Q 4Q 4Q 4Q Note: Total of Yahoo Japan Corporation’s non-consolidated Shopping-related advertising revenue; advertising revenue of StoreMatch, an advertising product in Yahoo! 72 Shoppi
Slide 73: Shopping-Related Advertising Revenue and Point-Reward Expenses to Transaction Value
Percentages of Shopping-Related Advertising Revenue*1 and Point-Reward Expenses*2 to Yahoo! Shopping Transaction Value % of Shopping-related advertising revenue % of point-reward expenses Restrained expenses and maintained profitability 0 FY2015 FY2016 FY2017 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q *1 S
Slide 74: Commerce Business
Commerce Business Membership Shopping Auction Financial & Payment 74
Slide 75: Auction-Related Transaction Value
Auction-Related Transaction Value (¥Billion) 235.7 Continued 198.8 209.0 221.0 227.9 to expand FY2013 FY2014 FY2015 FY2016 FY2017 4Q 4Q 4Q 4Q 4Q Note: Includes transaction values of: YAHUOKU!, tradecarview (https://www.tradecarview.com/), BOOKOFF Online (http://www.bookoffonline.co.jp/), Yahoo! Tick
Slide 76: Commerce Business
Commerce Business Membership Shopping Auction Financial & Payment 76
Slide 77: Number of Yahoo! Wallet Accounts
Number of Yahoo! Wallet Accounts (Million) 39.87 Almost 26.46 30.54 33.47 36.53 40 million accounts (end of month) March March March March March 2014 2015 2016 2017 2018 77
Slide 78: Yahoo! Wallet Transaction Value
Yahoo! Wallet Transaction Value (¥Billion) 355.7 YoY 154.3 164.6 272.6 323.6 +10% FY2013 FY2014 FY2015 FY2016 FY2017 4Q 4Q 4Q 4Q 4Q 78 Note: Includes payments using T Points and Yahoo! Money.
Slide 79: Number of Valid Credit Card Holders
Number of Valid Credit Card Holders (Million) 4.68 YoY 2.21 3.60 +30% March March March (end of month) 2016 2017 2018 79 Note: Number of card holders who can purchase goods and receive services, etc., using the card. Includes card holders of KC Card, Yahoo! JAPAN Card and SoftBank Card (“Omakase cha
Slide 80: Credit Card Transaction Value
Credit Card Transaction Value (¥Billion) 259.4 YoY 184.6 +41% 84.7 FY2015 FY2016 FY2017 4Q 4Q 4Q 80 Note: Excludes cash advance service. Includes card holders of KC Card, Yahoo! JAPAN Card and SoftBank Card (“Omakase charge”).
Slide 81: Business Segment Breakdown
Business Segment Breakdown Media Business ・Advertising: Paid search advertising “Sponsored Search”, Display advertising (“Yahoo! Display Ad Network (YDN)”, “Premium Advertising”) ・Business Services: CRM-related services, Media-related services and others ・Personal Services: Website production-relate
Slide 82: Advertising Products
Advertising Products Main Main Fee Placement Advertising Products Advertiser Format Calculation Pages Base Paid search Search results Sponsored Search® Text Major advertising pages Per-click rate corporations (Performance-based) *2 Text Yahoo! Display Small and Banner medium-sized Ad Network YDN and
Slide 83: Organization Chart of Yahoo Japan Corporation
Organization Chart of Yahoo Japan Corporation As of the end of Mar. 2018 President & Representative Director / CEO SEVPCO / COO CTO Marketing & SEVPCO / CFO Communication Division (Chief Technology Officer) Board of Directors Audit and Supervisory ID Services Management Creator Strategy Office Corpo
Slide 84: Consolidated Subsidiaries and Affiliates
Consolidated Subsidiaries and Affiliates As of the end of Mar. 2018 Major consolidated subsidiaries ASKUL Corporation Carview Corporation CLASSIFIED Corporation Dynatech inc. eBOOK Initiative Japan Co., Ltd. ecohai Co., Ltd. GYAO Corporation ◆ Ikyu Corporation Netrust, Ltd ◆ Passre
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