Billing System Corporation · TSE:3623

Billing System — FY2025 Earnings Presentation

36 slides from Billing System's earnings presentation, Feb 19, 2026

  1. Slide 1: FY2025 Full-Year Financial Results Presentation

    FY2025 Full-Year Financial Results Presentation Billing System Corporation (TSE Growth Market：3623) February 19, 2026 Copyright © Billing System Corp. All Rights Reserved. 1

  2. Slide 2: Key Messages

    Key Messages Building the Foundation for Growth and Accelerating into the Next Phase 01 Our business continues to grow steadily, supported by a payment platform with accumulating transaction volumes As a payment platform that serves as social infrastructure for payments and funds transfers, we conti

  3. Slide 3: FY2025 Results / FY2026 Plan / Appendix

    01 FY2025 Results 02 FY2026 Plan 03 Appendix Copyright © Billing System Corp. All Rights Reserved. 3

  4. Slide 4: FY2025 Results

    01 FY2025 Results FY2025 Results 02 FY2026 Plan 03 Appendix Copyright © Billing System Corp. All Rights Reserved. 4

  5. Slide 5: Progress on the Medium-Term Business Plan

    Progress on the Medium-Term Business Plan In the first year of the Medium-Term Business Plan, business progress has generally been on track in line with our mid- to long-term management strategy, and we have begun building the foundation for further growth. Medium-Term Business Plan 2025–2027 3-Year

  6. Slide 6: FY2025: Financial Highlights

    FY2025: Financial Highlights Driven by steady growth in recurring revenue, both revenue and profits reached record highs since the Company’s founding Revenue 4.54 billion yen (up 7.8%*) Ordinary Profit 650 million yen (up 4.6%*) Return on Equity (ROE) 13.7% EPS Growth 26.5% (5-year average) Rate *Co

  7. Slide 7: FY2025: Financial Highlights

    FY2025: Financial Highlights We achieved revenue and profit growth compared with FY2024. However, results fell short of the initial plan due to factors including timing delays in certain projects. These factors were primarily temporary and non-structural, and business progress was generally in line

  8. Slide 8: FY2025 Results: 5-Year Trend

    FY2025 Results：5-Year Trend In addition to existing services such as the Real-Time Payment Confirmation Service and Bill Collection Service, growth in PayB (Smartphone Bank Payment Service) has driven the continued accumulation of recurring revenue as transaction volumes increase. As a result, both

  9. Slide 9: FY2025 Results (Revenue by Segment)

    FY2025 Results (Revenue by Segment) The accumulation of recurring revenue across multiple businesses supports stable earnings growth. Trends in Consolidated Revenue by Segment (2021–2025) ■Real-Time Payment Confirmation Service • Recurring: Transaction volume growth slowed due Unit: million yen to e

  10. Slide 10: FY2025 Results (Revenue Structure)

    FY2025 Results (Revenue Structure) Recurring revenue is steadily accumulating, improving the stability of our business performance year by year. Trends in Non-recurring Revenue, Recurring Revenue, and Recurring Revenue Ratio (2021–2025) Unit: million yen 5,000 95% 4,500 ■Recurring Revenue 4,000 91%

  11. Slide 11: FY2025 Results (Trend in Recurring Revenue)

    FY2025 Results (Trend in Recurring Revenue) Despite temporary external factors, recurring revenue has continued to accumulate steadily, supported by the recurring nature of payment transactions. Monthly Recurring Revenue Trends (2021–2025) *Real-Time Payment Confirmation Service: Impact of enhanced

  12. Slide 12: FY2025 Results (Cost of Sales)

    FY2025 Results (Cost of Sales) The expansion of recurring services has enabled revenue growth while maintaining a stable cost of sales ratio. Unit: million yen 5,000 70.0% 4,546 4,500 4,218 69.0% ⚫ Growth in the Real-Time Payment Confirmation Service, Bill Collection Service, and PayB 4,000 3,782 68

  13. Slide 13: FY2025 Results (SG&A Expenses)

    FY2025 Results (SG&A Expenses) While continuing to invest for growth, SG&A expenses have remained within the range of revenue growth. SG&A Expenses and SG&A Ratio (2021–2025) Unit: million yen *2023 includes one-time expenses associated with the office relocation. 1000 973 25.0% 902 907 ⚫ SG&A expen

  14. Slide 14: FY2025 Results (Balance Sheet)

    FY2025 Results (Balance Sheet) Although assets and liabilities increased in line with business expansion, the Company’s financial foundation remains sound. Unit: million yen FY2024 FY2025 Composition Amount Amount Composition Change ⚫ As the business has expanded, funds temporarily ratio ratio held

  15. Slide 15: FY2025 Results (Adjusted Equity Ratio)

    FY2025 Results (Adjusted Equity Ratio) After adjusting for the impact of deposits received, the adjusted equity ratio remains stable at a high level. 5-Year Trend: Ending Balance of Deposits Received 5-Year Trend in Equity Ratio Unit: 100 million yen Trends in Deposits Received Trends in the Equity

  16. Slide 16: FY2025 Results (Cash Flow Statement)

    FY2025 Results (Cash Flow Statement) Although cash flows fluctuate significantly with business expansion, the core business continues to maintain its cash-generating capacity. Unit: million yen FY2024 FY2025 ⚫ Cash flows from operating activities were Positive factors significantly positive, mainly

  17. Slide 17: FY2025 Results (Free Cash Flow)

    FY2025 Results (Free Cash Flow) Beyond cash flow fluctuations associated with deposits received, growth in payment transaction volumes continues to generate stable cash flow. 5-Year Cash Flow Trend Adjusted Cash Flow Trend Excluding the Impact of Deposits Received Unit: million yen Unit: million yen

  18. Slide 18: FY2025 Progress on Business Strategy

    FY2025 Progress on Business Strategy We are steadily advancing new initiatives, including the deepening of existing businesses, the enhancement of ATM PayB services, the launch of PayB for Business, and a business partnership with JCB for corporate customers. Overall progress is generally in line wi

  19. Slide 19: FY2025 Progress on Business Strategy

    FY2025 Progress on Business Strategy The tuition payment service for universities has experienced a slight delay due to the time required for decision-making by universities. Meanwhile, Billing BOX, a paperless billing and payment service, has secured its first users and is scheduled for full-scale

  20. Slide 20: FY2025 Progress on Strengthening the Management Foundation

    FY2025 Progress on Strengthening the Management Foundation We have largely completed the establishment of frameworks for human resources, finance, and investor relations, which support business growth, and have begun implementing key initiatives. Key Strategic Areas Key Initiatives for FY2025 ⚫ Esta

  21. Slide 21: Headcount Trend

    Headcount Trend We are gradually expanding our organization in line with business growth and strengthening our talent base. Headcount Trend (Unit: employees) 100 97 90 87 79 80 69 71 70 60 50 40 30 20 10 0 2021年 2022年 2023年 2024年 2025年 Copyright © Billing System Corp. All Rights Reserved. 21

  22. Slide 22: FY2025: Promoting Employee Stock Ownership

    FY2025: Promoting Employee Stock Ownership Background and Objectives We view human capital as a source of mid- to long-term corporate value enhancement. To align the interests of management and employees and support sustainable growth, we launched a special incentive bonus program in December 2025 t

  23. Slide 23: FY2026 Plan

    02 FY2026 Plan 01 FY2025 Results FY2026 Plan 03 Appendix Copyright © Billing System Corp. All Rights Reserved. 23

  24. Slide 24: FY2026: Plan

    FY2026: Plan While continuing growth investments, we aim to balance revenue growth with improved profitability. The FY2026 plan reflects the targets for the second year of the Medium-Term Business Plan. Consolidated Unit: million yen FY2025 FY2026​ YoY Change YoY Change Rate Results ① Plan ② ③=②–① ③

  25. Slide 25: FY2026 Overall Strategic Framework

    FY2026 Overall Strategic Framework In the second year of the Medium-Term Business Plan, we will expand our revenue base in the domestic payments market and accelerate growth. Building on a platform where payment transaction volumes continue to accumulate, we will generate recurring revenue and stabl

  26. Slide 26: FY2026 Specific Measures

    FY2026 Specific Measures Strategy Key Themes Approach to Value Creation Key Initiatives ⚫ Identify solutions to strengthen, scale ⚫ Build recurring revenue by expanding Strategy 1 Balanced down, or exit based on growth potential PayB-related businesses. Solution Strategy and profitability. ⚫ Create

  27. Slide 27: FY2026 Specific Measures

    FY2026 Specific Measures Strategy Key Themes Approach to Value Creation Key Initiatives Strategy 4 Redesign business processes from a Improve operational efficiency Company-wide ⚫ ⚫ company-wide optimization perspective. through modernization of internal Operational Optimization Efficiency ⚫ Control

  28. Slide 28: FY2026 SG&A

    FY2026 SG&A FY2026 Strategic SG&A Plan Incorporating Growth Investments Unit: million yen FY2025 Results FY2026 Plan Change Personnel expenses 653 782 129 Rent 46 49 2 Fees and commissions 126 175 49 Other 148 188 39 Total 973 1,193 220 ⚫ Personnel expenses are expected to increase due to new hires

  29. Slide 29: FY2026 Investment Plan

    FY2026 Investment Plan Focused Investments in Systems and Human Resources for Mid- to Long-Term Growth System Investment ⚫ Prioritizing the stable operation of existing businesses, we are investing in infrastructure such as commercial servers to enhance Commercial servers and related software: ¥82 m

  30. Slide 30: FY2026 Dividend Forecast

    FY2026 Dividend Forecast Based on stable cash generation, we plan to increase the FY2026 dividend per share. The FY2026 dividend is planned at ¥32.50 per share, an increase of ¥6.70 year on year. Unit: yen 100.00 50.0% 93.01 ⚫ The Company generates stable cash flow 90.00 45.0% through recurring reve

  31. Slide 31: FY2026 Share Repurchase Program

    FY2026 Share Repurchase Program The Company will conduct share repurchases to strengthen shareholder returns and improve capital efficiency, while comprehensively considering its financial condition and business environment. The Company aims to enhance corporate value while maintaining flexibility f

  32. Slide 32: FY2026 Executive Compensation System

    FY2026 Executive Compensation System To enhance corporate value over the mid- to long-term, the Company is considering revising its executive compensation system toward a performance-linked compensation structure, with the aim of further strengthening management’s commitment to achieving business pl

  33. Slide 33: Appendix

    03 Appendix 01 FY2025 Results 02 FY2026 Plan Appendix Copyright © Billing System Corp. All Rights Reserved. 33

  34. Slide 34: Reference Materials

    Reference Materials For details on our mid- to long-term growth strategy, please refer to “Business Plan and Growth Potential,” announced on February 19, 2026. For other information, please refer to the following materials available on our IR website. Business Plan and Growth Potential Annual Securi

  35. Slide 35: Change in Segment Classification

    Change in Segment Classification Going forward, to expand the payment value chain while focusing on the Payment Support Business, we will reorganize our reporting segments into the following four categories and report our strategies and initiatives accordingly. Revenue Breakdown in Financial Results

  36. Slide 36: Copyright © Billing System Corp. All Rights Reserved.

    Copyright © Billing System Corp. All Rights Reserved. 36

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