Hakuhodo Dy Holdings Incorporated · TSE:2433
Hakuhodo Dy — H1 2026 Earnings Presentation
44 slides from Hakuhodo Dy's earnings presentation, Nov 10, 2026
Slide 1: Consolidated Financial Highlights First-half FY2026
Consolidated Financial Highlights First-half FY2026 (April–September, 2026) November 10, 2026 Ⓒ HAKUHODO DY Holdings Inc, All Rights Reserved.
Slide 2: Highlights of Consolidated Results for H1 FY2026
Highlights of Consolidated Results for H1 FY2026 Ⓒ HAKUHODO DY Holdings Inc, All Rights Reserved.
Slide 3: H1 FY2026 Consolidated Results
H1 FY2026 Consolidated Results 1 • Billings increased by 6.0% year-on-year, and gross profit increased by 4.5%. • Operating income before amortization of goodwill was roughly at the same level as the same period of the previous year. • Quarterly net income attributable to owners of parent improved f
Slide 4: H1 FY2026 Consolidated Results (Key factors)
H1 FY2026 Consolidated Results 2 • Domestic/Corporate: Gross profit for the first half exceeded the previous year, partly driven by the strong performance of TV and other areas, particularly in Q1. Although SG&A expenses also increased, they were controlled within the growth of gross profit, resulti
Slide 5: Guidance for FY2026
Guidance for FY2026 Ⓒ HAKUHODO DY Holdings Inc, All Rights Reserved.
Slide 6: Guidance for FY2026
Guidance for FY2026 ⚫ The guidance for the full fiscal year ending March 2027 remains unchanged from the previous forecast. Guidance for FY2026 （Millions of JPY） Forecast YoY Billings 1,675,000 +6.0% Revenue 910,000 +5.7% Gross Profit 430,000 +5.9% Operating Income 46,700 +4.5% Ordinary Income 47,00
Slide 7: H1 FY2026 Summary
H1 FY2026 Summary Top line increased year-on-year; operating income before amortization of goodwill was roughly flat, with profitability improvements progressing into Q2 • Revenue grew, driven mainly by existing domestic advertising business, resulting in increases in billings and gross profit. • Al
Slide 8: Shareholder Returns for FY2026
Shareholder Returns for FY2026 Ⓒ HAKUHODO DY Holdings Inc, All Rights Reserved.
Slide 9: Shareholder Returns
Shareholder Returns ⚫ Dividend forecast for FY2026 (ending March 2027) • The Board of Directors resolved today (November 10, 2026) 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. Ⓒ HAKUHODO DY Ho
Slide 10: Progress on the Medium-Term Business Plan
Progress on the Medium-Term Business Plan Ⓒ HAKUHODO DY Holdings Inc, All Rights Reserved.
Slide 11: Overview of the Current Medium-Term Business Plan
Overview of the Current Medium-Term Business Plan Integrated Marketing Restructuring of Digital Marketing Marketing Business Commerce Business Consulting Business Content Business Creation of New Growth Options Incubation Business Technology Business Remodeling of Global Business Global Business Ⓒ H
Slide 12: Medium-Term Business Plan: Outline of Progress in H1 FY2026
Medium-Term Business Plan: Outline of Progress in H1 FY2026 MTBP Targets H1 FY2026 Results (FY2026) (YoY in parentheses) +77.5% CAGR of Operating Income after Adjustments and before Amortization of Goodwill At least +10% (-2.8%) +3.6% CAGR of Gross Profit after Adjustments At least +5% (+4.5%) Mediu
Slide 13: Restructuring of the Domestic Marketing Business
Restructuring of the Domestic Marketing Business With a stronger organization, steadily driving structural reform April 2024 April 2025 December 2025 Hakuhodo DY ONE Founded Hakuhodo - MP Integration OPT Joins the Group Structural Reform of Marketing Results of Structural Reform (FY2025 Full Year) D
Slide 14: Sources of Value in the AI Era
Sources of Value in the AI Era With AI, the source of value shifts from “making” to Asking, Choosing, Giving Meaning, Moving Visuals Ask Choose Posing questions Choosing and Copy Video Done by Done by AI and giving meaning owning the results People Make Give Meaning Move Deeply understanding Deliver
Slide 15: Overall Picture of the Reorganization (Under Consideration)
Overall Picture of the Reorganization (Under Consideration) As part of the restructuring of the domestic marketing business, consider three structural reforms Strengthening Our Structure for the AI Era Strengthening Regional Business New Marketing Quality and Speed Group Capabilities 1 2 3 with AI w
Slide 16: 1. Form a New Business Entity Centered on Three Companies
1. Form a New Business Entity Centered on Three Companies Combining each company's strengths, distinct from our existing businesses, form a new pillar of marketing business YOMIKO Our Aspirations Production & Implementation Daiko OPT Marketing Transformation Company Ideation & Support Digital & AI f
Slide 17: 2. Build a Shared Infrastructure for Production Functions
2. Build a Shared Infrastructure for Production Functions Redesigning business processes on the premise of AI, enhance quality and speed, and visualize effects Our Aspirations Consolidating the Production Functions of Group Companies A Partner That Enhances Value through AI × People ✓ Provide optima
Slide 18: 3. Restructure Functions across Three Areas
3. Restructure Functions across Three Areas In growing regional economies, provide Group functions on an integrated basis Hokkaido Our Aspirations “Hub-and-Spoke” A Partner Contributing to Regional Economic Growth Operating Model Tohoku ✓ Combine locally rooted strengths with Group functions and kno
Slide 19: Image of the Reorganized Domestic Marketing Business
Image of the Reorganized Domestic Marketing Business * Envisioned structure after consideration Hakuhodo DY Holdings 1 A New Business Entity Hakuhodo Pioneering Marketing Transformation in the AI Era Hakuhodo DY ONE Daiko, YOMIKO, OPT 2 A Shared Infrastructure for Production Functions 3 Restructure
Slide 20: Initiatives in Growth Options
Initiatives in Growth Options Across diverse domains, from AI to content, advance Growth Option Businesses Technology Business Incubation Business Content Business FDE-Led AI Transformation Services Ads for Humanity: “Human-Verified Ads” Domestic Licensing of Global IP Over 200 specialists support c
Slide 21: Initiatives in Global Business
Initiatives in Global Business By restructuring kyu's management and expanding business in growth markets, advance the Remodeling of Global Business Restructuring kyu's Management Business Expansion in Growth Markets Strengthening Digital Capabilities and sei-katsu-sha Collaboration-Driven Operation
Slide 22: Looking Ahead
Looking Ahead Grasping the turning point brought by AI and opportunities in growth markets, become a Group that continuously creates new value Initiatives for This Fiscal Year Final Year of the Current MTBP Considering the Reorganization Advance consideration toward Work toward achieving our targets
Slide 23: Hakuhodo DY Holdings
Hakuhodo DY Holdings Ⓒ HAKUHODO DY Holdings Inc, All Rights Reserved.
Slide 24: Appendix
Appendix Ⓒ HAKUHODO DY Holdings Inc, All Rights Reserved.
Slide 25: Interim Income Statement
Interim Income Statement H1 FY2026 YTD（6-Month） by Quarter（3-Month） （Millions of JPY） Actual YOY Q1 YOY Q2 YOY Billings 736,825 +41,801 +6.0% 364,297 +7.5% 372,527 +4.6% Revenue 375,766 +9,635 +2.6% 176,222 +3.8% 199,544 +1.6% Gross Profit 188,111 +8,177 +4.5% 90,652 +5.6% 97,458 +3.5% Gross Margin
Slide 26: Results by Region
Results by Region H1 FY2026 （Millions of JPY） Actual YOY Japan Billings 633,966 +35,885 +6.0% Revenue 272,864 +3,723 +1.4% Gross Profit 138,038 +6,305 +4.8% SG&A Expenses 107,919 +5,418 +5.3% Operating Income 30,119 +886 +3.0% Overseas Billings 107,940 +6,626 +6.5% Revenue 107,940 +6,626 +6.5% Gross
Slide 27: Results by Region (YTD, by Quarter)
Results by Region (YTD, by Quarter) H1 FY2026 YTD（6-Month） by Quarter（3-Month） Japan （Millions of JPY） YTD Actual YOY Q1 YOY Q2 YOY Billings 633,966 +35,885 +6.0% 319,021 +8.4% 314,945 +3.7% Gross Profit 138,038 +6,305 +4.8% 67,254 +8.5% 70,783 +1.5% Gross Margin 21.8% -0.3pt 21.1% +0.0pt 22.5% -0.5
Slide 28: Results by Region (Japan)
Results by Region (Japan) H1 FY2026 Gross profit & operating income before amortization (Millions of JPY) Actual YOY of goodwill by quarter (Millions of JPY) Billings 633,966 +35,885 +6.0% Gross Profit 138,038 +6,305 +4.8% Gross Margin 21.8% -0.3pt SG&A Expenses 107,919 +5,418 +5.3% Operating Income
Slide 29: Results by Region (Overseas)
Results by Region (Overseas) H1 FY2026 (Millions of JPY) Actual YOY Gross profit & operating income before amortization of goodwill by quarter Billings 107,940 +6,626 +6.5% (Millions of JPY) Gross Profit 52,608 +1,750 +3.4% Gross Margin 48.7% -1.5pt SG&A Expenses 57,040 +3,562 +6.7% Operating Income
Slide 30: Japan: Billings by Type of Service
Japan: Billings by Type of Service H1 FY2026 (Millions of JPY) Actual YOY Composition Newspaper 8,811 -1,913 -17.8% 1.4% Magazine 2,515 +52 +2.1% 0.4% Radio 3,773 -105 -2.7% 0.6% Television 164,457 +4,123 +2.6% 26.7% Traditional Media Service Subtotal 179,556 +2,156 +1.2% 29.2% Internet Media 203,02
Slide 31: Billings by Type of Service (YTD, by Quarter)
Billings by Type of Service (YTD, by Quarter) YTD（6-Month） by Quarter（3-Month） H1 FY2026 （Millions of JPY） YTD Actual YOY Q1 YOY Q2 YOY Newspaper 8,811 -1,913 -17.8% 4,238 -17.1% 4,573 -18.5% Magazine 2,515 +52 +2.1% 1,277 +13.9% 1,237 -7.8% Radio 3,773 -105 -2.7% 1,774 -7.0% 1,999 +1.4% Television
Slide 32: Japan: Billings by Client Industry
Japan: Billings by Client Industry H1 FY2026 （Millions of JPY） Actual YOY Composition Information/Communications 77,831 +11,575 +17.5% 13.6% Restaurants/Services 67,347 +11,118 +19.8% 11.8% Beverages/Cigarettes/Luxury foods 51,689 -4,290 -7.7% 9.0% Finance/Insurance 50,186 +8,891 +21.5% 8.8% Automob
Slide 33: Japan: Billings by Client Industry
Japan: Billings by Client Industry ⚫ Positive Industries Information/Communications H1 FY2026 Actual ¥ 77.8B YoY +¥ 11.6B (+17.5%) Restaurants/Services ¥ 67.3B YoY +¥ 11.1B (+19.8%) ⚫ Negative Industries Beverages/Cigarettes/Luxury foods H1 FY2026 Actual ¥ 51.7B YoY -¥ 4.3B (-7.7%) Precision machine
Slide 34: Japan: Billings by Client Industry (by Quarter) 1
Japan: Billings by Client Industry (by Quarter) 1 FY2024 FY2025 FY2026 (Millions of JPY) Refer to the Notes on p. 44 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 FY2024 are based on data p
Slide 35: 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. 44 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 FY2024 are based on data prior to changes in th
Slide 36: Japan: Billings by Client Industry (by Quarter) 3
Japan: Billings by Client Industry (by Quarter) 3 FY2024 FY2025 FY2026 (Millions of JPY) Refer to the Notes on p. 44 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 FY2024 are based on data p
Slide 37: Japan: Billings by Client Industry (by Quarter) 4
Japan: Billings by Client Industry (by Quarter) 4 FY2024 FY2025 FY2026 (Millions of JPY) Refer to the Notes on p. 44 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 FY2024 are based on data p
Slide 38: Selling, General & Administrative Expenses
Selling, General & Administrative Expenses H1 FY2026 （Millions of JPY） Actual YOY Major Change Factors in SG&A Expenses (Millions of JPY) Personnel 118,114 +4,075 +3.6% H1 FY2025 SG&A Expenses 169,191 Rent 9,982 +433 +4.5% Change in scope of consolidation +4,474 Depreciations 6,531 +715 +12.3% Amort
Slide 39: Other Income/Loss & Extraordinary Items
Other Income/Loss & Extraordinary Items H1 FY2026 Other Income/Loss （Millions of JPY） Actual YOY Non-operating Income 2,725 +260 Interest Income 386 +44 Dividend Income 1,543 +196 Non-operating Expenses 3,426 +915 Interest Expenses 822 +160 Foreign Exchange Loss 657 +581 Equity Method Loss 242 -534
Slide 40: Balance Sheet
Balance Sheet （Millions of JPY） As of September 30, 2026 Change * Composition Current Assets 584,852 -158,107 63.2% Cash & Deposits 141,020 -97,940 Notes and Accounts Receivable 338,409 -86,401 Non-current Assets 341,259 +3,087 36.8% Tangible Assets 55,276 +2,408 Intangible Assets 86,630 -5,359 Good
Slide 41: Cash Flow Statement
Cash Flow Statement H1 FY2026 （Millions of JPY） Actual YOY Cash Flows from Operating Activities -66,818 -13,467 Cash Flows from Investing Activities -8,338 +10,495 Purchase of Property, Plant and Equipment -2,243 -712 Purchase of Intangible Assets -3,849 +5 Purchase of Investment Securities -1,301 +
Slide 42: Medium-Term Business Plan (FY2024–FY2026)
Medium-Term Business Plan (FY2024–FY2026) ⚫ 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. Stra
Slide 43: Group Companies Win at Meta Agency First Awards 2026 Japan
Group Companies Win at Meta Agency First Awards 2026 Japan In the growing social advertising domain, won four awards, including the Top Award Agency Award Creative of the Year Agency Brand Creator AI of the Year Impact Award Solutions Award Innovation Award (Top Award) GOLD GOLD GOLD Ⓒ HAKUHODO DY H
Slide 44: Cautionary Statements Concerning Forward-looking Statements
Cautionary Statements Concerning Forward-looking Statements, Change in Accounting Standards & Note Concerning Auditing Cautionary Statements Concerning Forward-looking Statements This presentation includes forward-looking statements concerning forecasts of operating results, business plans and polic