Rakuten Group, Inc. · TSE:4755

Rakuten — Q1 2025 Earnings Presentation

70 slides from Rakuten's earnings presentation, May 14, 2025

  1. Slide 1: 2025年度第1四半期 決算説明会

    2025F RSI GHRA HAS (eis) FLUYF—Y 3a va 2025%5A148 RAI W—FRANSH Rakuten e HH. AALCSROPCSMLTVELR, HiCOUMCSTR WET. BRT IL—PO2025 BOE MOM BIRRIC OUT. WiC CRAWEULET.

  2. Slide 2: 注意事項

    KEvYI2 Ey vyvu- Boer xv bile *TYI-AYRY-ERZLTIAYVE SIH YFYIEIAVE SENTWETAYE El as 4 N R 2 @©@ KRADIFLCYF—-—VarvGlk, BUADGYVU-, BVTIXYEO S248, ARBOR, SC SICAICH ST SRAOMUMAICDUIT, IS IBD CCHHUELED., RBECCHRUEEITET CHG.

  3. Slide 3: Group consolidated results

    @ EFTIS CHIT, BRENT IVODWRICDUTCRELET.

  4. Slide 4: Q1/25 Non-GAAP consolidated EBITDA

    RAEN IH) HERE < EBITDA (BF) 102 -20,099 -25,767 +50,637 76,730 87,546 Q1v/20 avi Qv/22 av23 Qv/24 Qv25 R Q1/25 HEAR < EBITDA Ane iG 2025SFiSFAEBITDA PP blct CHEE 4 e S1O+lcC, AEBHHRER<EBITDACHEHORF Se EMLE Lick. WETELAR, RKFOWMED HLTH HRA COEBITDA FUbICMt CMBERICAHEL TUS CeEEMLTWVET, RY KT- TMEOMb P

  5. Slide 5: Rakuten Group Q1 highlights

    RR V—-TFORMMRET Ib ENF IDSA | FO-NVBREX | Al KU TIL20 RRI—¥-O7 PIME GAY -CAAFEE & ANRL-YAY/V-IFAYVI BHI FIA REY 74 ——OBM /TIAP Yb BMB2O% UP Lh ib Lh 1 BALAVYVAT Lx att - ABSRXAAY—-CARXLTV in RK Ib—-FOZALEAS FIDL Cine RRC UI—-YOMLe Bias \p 5 KET IL—-FORHREETIIS[OOR CHMINTWET. B —(CRRAENTIBSHOMA. RICF

  6. Slide 6: Rakuten Group cost structure and profit

    RRENTIWCKSLIYAT LOBHERU BEA B RALIVATLICHISRRENT ROSMSSMSM. ENT ROB LEMMLIY AT LA-F—-H SHMLTHY, LAYATF LOBE - KFHAOMACHS RRLIIAYAFLMAV ISIS RRTNG RWS REC LE BRENT BHI BRS PMLIVYVATFLI-V¥—BiSH (awns—2) (sia =F) 13.7% 11.9% 10.6% 233A 243A 253A Q1/23 av24 av25 Am7 77472-9-, SRICBS DREN HMA —ERORBELRA—

  7. Slide 7: Rakuten AI for Rakutenians

    AIXH [RATIV-—F] “~ B SHOESIFMAAISERL TRUTILZO] SH BH 13,000AU LORE A SHICHTAMITEMALY—JL [Rakuten Al forRakutenians!] BHF KUFIL20 A 16,000+ Rakuten Al for Rakutenians 4 V—TF 4 YITME DAZI LAB 20%18 ANL—-YayH¥ - @ CAE Aa 20%: 8 a-F477 A dae FID Rem 7 aS 4 ” weie senae® a 794 ry ae @ Qe m @ are tbLy VBR

  8. Slide 8: Q1/25 consolidated revenue

    Q1/25 eave LIet hoo] 1 +H i 562.7 * |= =F = WFR +15.6% RFR I RRS eS RICRAN— EDM, PALF Ee SACRA T MEI eS | AVI-AYEY-EATCIA, RAMABE PDICHAEC, Rakuten Kobo® PincinABeN ENE FRENDS ERAGE KY IBIVICAS < BR Q1/24 Q1v/25 M1 YI-RYKY-EALTXYR BDAYFYILIXYb BENAETXYE ESBS R 8 e S1UFHAO Merc belt5 627RACe. Ame esc

  9. Slide 9: Q1/25 Non-GAAP operating income

    Q1/25 iBtaNon-GAAPE lat +2518 — SueMxvk . akin (ENT IVISHEME) +25.8% RAEN OWMICKSRALE, +1439 SEE Lead SERGI. RANA XY hOKMMS EA RICABLS Q1/24 Q1/25 BAY I-4AYEY-EALIXYA BDF yICIXYb BENTLETXYb Eene *08/24~ EN TAYAF HAMMEL TAY MEMICRIRLRT LICH, OVID TAY bRIAICMBIES IE R 3 e@ EAMICMLCEAVUIXV | CHRROUMEYS

  10. Slide 10: +51.4% +17.0% +17.4% +168 ⚫

    +51.4% +17.0% +17.4% +168 10 ⚫

  11. Slide 11: Segment Non-GAAP EBITDA

    202548 mB B YIOOFEMEOSRIEKECEOO, Riim CHRREOUBEEW Rakuten Rakuten Mobile i@#5Non-GAAP RENT IVE pe tlk EBITDA RFHK ATI 2aHaeO Si OT SENESER Ce 1BRORS " \p @ Sib BiNon-GAAPE RAMOMAICEAL, KRRENT ILO HAEBITDARFILe BPEL TEWW ET. VIORAD MERI SOVETH. Him CHROBRIIMBGWCEZATHVET. Slee, PEOREECKROMUEHDTEWWET,

  12. Slide 12: Our view on the market environment

    HAR AICIWT M RALIVYATLEMICLABEIC EY, BARURICREINIC< <. BKORVEY 7 ORR CORRES CH B BESYIOOFERE OSKIBECCOO, FFE MM CRNLERBBRIC AT CHR EE As, KEORHGDPRRECRAOTLERREOWS 425% +20% 415% 0% R +5% ox Pr = a Lr * ox NY 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 —)

  13. Slide 13: 2. Internet Services

    2. CAXY FER @ RICLTIXY hARMORAe SE CHEET.

  14. Slide 14: Internet Services segment

    TYI-AYRV—-ERZLTIAXVE R 4 e@ ENCstRIlC. TYUI-RAyYbY-EAZLTXYbLORIO+M SINT ST RICOUCCHMWELES.

  15. Slide 15: Internet Services: Q1/25 results

    TYI-AYEV—-ERZLTIAYVE : Q1/25 RANTS m BREC. 17 9—F2 5 +a = EMEC, RAPBSOIP CY AAZORABRMANSS. TYI-FYATIVEBPIIS. PEFOQ2CHTMBLEN 5—BTF SRY —I— OMS kSRakuten KoboOssULM APIA = IF AS| Non-GAAP Srl +25.8% AUER 1321an Fe EIN +6.9% aueE RURAL 3,055 LDAP LRM XY MEMICRIRLET LICL), QV2IROLT XY MIRCHI ERI. *08/24

  16. Slide 16: Internet Services: Q1/25 KPI

    TYI-—KZYbV—-ERZLTIAYE : Q1/25 SEKPI BIAEC 5a5 ae mie foneeirs IRR? BARES eSRURRS +3.0% nd 4.4 - 4.4>, +18.5% USEABLE aeRMt 5 ° 1.4% RALKDNIL BeBe AYI-F Vat IWaBPT® EABaaRe* FLING Abines +48.1% +5.6% +2.7% 2019s HLL Brescrctd ATS ARLE 548eR 4.366 BL ESRB DAS AUNT SIRTPRAOF tO WARESRNSEL EU! Rakuten T

  17. Slide 17: Announcements on March 29: partnership and services

    20253A298H KY. AVY—-AZ2&YV—FF AYIA DYNA —lSRRAIT BAR Be Bit AV-2BV—-FF IIT ae t NYNI-FLIFYb 2 TYaF d >’ ” mU-I— yoT LAYATF LEGAL, TSRSHRAL, REBORN ELI kSI—-¥—- ISTP Y bRAMFAMBEBLE > HPAECHMME 10k Bis ¢ PRRENTI) COPE (APREORR. SHBehict ULMESBRAS) ¢ MECROTS SSE (RH TORERAL, BREST YNGY RRS) ° ALGER (BE

  18. Slide 18: EC: Q1/25 results

    EIAJEC : Q1/255848 B ASHORE RRICRAMR. BRU—-NA1 SY 3 vy CYPECOMARMMIMA, CSIC. MENSSSEES KCCI ESSARBSY. AB + RBSICESIMTPRSRROFS > CI BBSSRET SC +4.4%8 BB RRRBACO AACS, MiB. RR24, RRFYI2, Rakuten FashionMARe It A5] ama (+489) FeLinet" (+f) Non-GAAP#se#ll#i" (-+18F9) Marey4r 3355 BBS" 2 eaunee +4.4% MBR

  19. Slide 19: Rakuten Ichiba: Q1/25 growth

    RAM: Q1/25 EVRAPYIF—hb ME QI/2515 Aas - RUTHIE B LIYATLESALEMESERVUAMEAC. BEDORENGEbICLSI—-Y— - 7577 YbRAONEEA LICKS SHERMER A SAS BRENT IVE OBIE SSROE AEA QV/25 ARP IF 171-4 5HS RakutensaeAaet (242°7A te) BEASRL—-yavicsrse7orr REE EOSOME” AGERERN GE RORLRERIC SI SE? — 1 5 e Ay, 21 e Avot aieeraatE

  20. Slide 20: Rakuten Travel: Q1/25 results

    RAKINID: QU/25 EYAAPYIF—b ME BPWBIIE. V7 y MERORUINC LATOR MEIC 35ST, SALA OD fe OORT HIS MG BUNDY, V-TYRYLP SIAL, BREMRERH. SRIMEREROAAROMETED, JO-NWOTA CL CH SBA S BET RELINILOFO-NIG4 blsESH EB. ce) = eS Tea ee +36.0% Tapanualityit Sg. * BUS IIRALE BARITETYUNIYERIIO AERTS 1 bORE (Q1/25) *OTA (Onli

  21. Slide 21: Internet Services other: Q1/25 results

    TYI-FYVAT IVT”: Q1/255ei8 : Rakuten Rewardsit, KEBROY—77 4 VIRAL KICASHBOMILER TBS SH BAT, HN S—MAROMTEA HT AsRakuten Kobo. KSLA Eo Rakuten ViberavseIcBS FLIM (BAKE ID) Non-GAAP###lla (BAX KL) ott zo +5 Ssnxt eM BAKE ali +2.7% we vasa SRE e4-JvaAy-z Peas nq i] FyvaAy 44 418.3 429.5 -6.9 373.9 -43.9

  22. Slide 22: Internet Services initiatives

    HEBRRBICOWT (fYI—AY KY-ER) B BAOMRREC. T-EAZKAINCEE COREG, SRARORAMAZOHTRETU< B SABRCSWTS. KOM 1 VBE ZSRakuten Rewardst1—¥—OBARUIS1 PY KEROV—T7 T4YTRAWWSORES BAS Qv/25 (1~3A) Be RECORe SeMECNESRIARIL 62: BeGL ase: eres py BE: EEL ve aren RCL URMAEwE © Oe omer. SOMO AE 5 ie 7) uh ee 3 PAR! 0): in ARR

  23. Slide 23: FinTech segment

    \p IHYFYTILIXAVE 23 RIC, DAYVFVIVCIRY KICDUT CHHAWE LET.

  24. Slide 24: FinTech: Q1/25 results

    It yFyIeIXVh : Q1/25 KiRNTISTb M RAMTPRAA—KERDC. BMRA WM RAMIPRAN 1 XY KOBSBIIC ALY, SSMEAMGIERE RR Fo LIN a Non-GAAP Beil +15.6% +21.7% aa fF 2,2368R 4398R LDAP LRM XY MEMICRIRLET LICL), QV2IROLT XY MIRCHI ERI. *03/24~ ENA UTIY R 24 @ HAMTCRAN-—ReGONC, BAGNARRO MeL. TLS I¢2,2368A eG. BITERIBAICID.

  25. Slide 25: FinTech: Q1/25 KPI

    JHYVFyIETIAYV : Q1U/25 EBKPI R © © © RENE RMT RAM Yayey IRS Secs" es es tae +12.8% +10.4% +8.8% ERB ae Desc sd 6.33 1,6835 11.4455 @ @ @ RR RR RR #8088" NISAD BE? mugE +13.1% +2203% 122.4% eechd ae eect ied 1,2345 6365 36.0% UBT “2IGRRHM *3 DAZPNISAERC 25 © SSROKPIDMRMMRLEBVUET. KKN-KONYaveyv 7 Miki

  26. Slide 26: FinTech announcements March 29

    2025F3A298 EY. It VF YIFI—FHYNX6—lsseelle GH i—B8 pA R— DtYFIIIN=-FJ = DAYFYIIN-F NYNI-FLIFYb ‘ DYNI-YIPIPTA eae [A— BRAS REMY ICLERE] DS iy [71 v7» I7SHOMSBEtSALEBERS)] SHETSCET C5BSI1 YT Y WEARS 2025 ° AGEAICESBRMY —C AOR - GL - ME ENS + SRY -—EZOMMIAE= YF Y—ORIE . efe[s 26 @ fYI-RYRY-ERZEIICE<K.

  27. Slide 27: Rakuten Card

    RAA-—K RRBs. SAAVMOVSSKMT CHM B RRSOMAM ER LIENICAR. HaASNLAlC SU SMAAEMLEGOOD, TI-FAAOF 4 yYYAPIbKO SMS. AP MEAA OSM S—-BT RAO TMI LSEOT. Toy MUA SHS YaveyvI RRS (Ib) Non-GAAP ##lzt (++1F9) RRN-KOWEAT—L +12.8% -5.4% ILIy bA— KBE Ast i. ASB Aa Rakuten Rakuten cord sts t nema RAMI 2 BLAM BAOWSNEHOTEY

  28. Slide 28: Rakuten Securities

    RANA AYA : BFK. RENT SAOCRREOMAS B RRSOMAMERICSSL. SRRFMIEX B SEPSRANT7 TY CRM Mee. (RICHRRICMAS SR) SA Non-GAAP#se#l#? (+187) RRENAPT) CORRM MIE (25S ~) +133.2% MP GRRIA OBR tet Cac ed Q1/23 Q1/24 Qv/25 RENT AY DARE, BREA YRRAIOSR, R 28 @ RANT AV bISRRSOWIN MRL, SRAFOMACHESIL TWEET, SENEMSISKANT PT

  29. Slide 29: Rakuten Bank (key figures)

    RAT (BE) FAINT 37 kh" (BASH. 3A RE) 8 OBS -ASkaOwIMiih. ZAREORY Lit cAROMRSNS|S LITRUM—hI4VAOMBICLY SMRBOAS <RL. CATAY hAMOMACAS < BR Use eng (2025435 8A, i848) 184.5 +0: +33.7% MERLE Ustad (20254355 #8. #8) 71.5 +80 +47.8% Bie RAL JFRAME O ee (202537 HA, iB) 30.0. -7. Opts mF IRALE ROE? (202583738,

  30. Slide 30: Rakuten Bank: deposits and loans

    RAGS : HSREOMAM RE LBA B PeHCMESROMACMMBEO SHE FY BARNS ECRL. REE B SOHMISY—7y LOMITA UT (REV ERIKL—F 4 YOMBMGRS., SHOMBRATIMSIEEILO Y2I8Y SSOBW (7) SR (Ha - AsSHtBe) +13.1% aramlt +8.7% emt Q1/24 Q2/24 Q3/24 Q4/24 Qv25 Q1/23 Q1/24 Qv25 *RMBOAROVET R 30 @ RAMS SMRN CMS SEROMA CWMBIEO SHEIK BA Rie/Ni

  31. Slide 31: Rakuten Insurance

    (RRB: HCG PUK BAF vy 2IVOS SE SHEN B SHRRITHD CORR. LIYATLESALRMEF y 2)) (020°) OBREH ENE B BERRI YI—-Zy MEH CORREO THS. BARTEL MBE ORI RRLOREIC SURED. PRTG ROR) (CLVBKOMBES RRR RMS (HaA) RRR RS (HER) 20255 1£7999 5 RASH + LIYATLN5SO BSASHE ° WHF y RIOTS GSRIE RRR 8 13 0.6 + BHERROCS ESR 0A * YOTFAY

  32. Slide 32: FinTech initiatives (Insurance)

    HEBHBBICOWT (D4 yFy7) B Y-7y bRRORGC LSBRRS - SAAS \OKEGED TEM. TEP y KUATOMEEEECRSns BOARS - GARAROCIF XY KPREINTHASHC SI SRAPRUBSICLS Q1/25 (1~3A) &# Rtcore SRMEINRSRRRIE WANE EROMLTRSN UES SXA-K Heme: wel Heme: ASomMEL oe] Sf X2 yeL/ma : peers FEL ARIS : meine FLL/EM : MEEBOUAIC SSR RRNITAYVb LAB

  33. Slide 33: Mobile segment

    ENTILEAIXYVE R © RBICENTIVTATXYKICBSUCTIHEEET.

  34. Slide 34: Mobile: Q1/25 results

    ENTILETIAYVE : QU/25RRNTST hk B RREN1 WiSBWOBBWROERARPULAICEL. BEML CARICA M@ RRYV IA“ lk. AT YVHEAOMAIT SYIRSTMME. T57 KFRUOSSHRE DDC HRN SNP Fe LIN Non-GAAP HERE < Bilm' EBITDA” +10.9% +1434 +164 Bust IRA LE Ebest ndn't 5 BUELENS SA 1,107@5 - 513m 18h BEAZRRILSCEBITDA FES ARB O65 B/24~ EN 4 IITAF

  35. Slide 35: Rakuten Mobile

    Rakuten Mobile R 35 © COCMSISRAEINT ILDORBICBL CHUL < CHEE TUEL eET.

  36. Slide 36: Rakuten Mobile: Q1/25 results

    FRRE INA IH): Q1/255R4 @ BeReHiR< EBITDAN—2COFMSFILSEM. 2025S MEBITDAR FILS BES B PRAOKBCH SBS ESSA SRUEPMCE (FL e—7 545740 yy270-) SSO 160A BE Fe EMRE (+009) Non-GAAP S238 428? (+18) EBITDA?*U'PMCF” (-+t@F3) + av24 aQv25 BERERR<\-—2T Heh ; 10255nR= Lo F202 i +17518F1 nena —_ ed) Id —_ Q1/24 Qv/25 Q

  37. Slide 37: Satellite direct-to-cell service and roaming

    FRAEING VISA CICR VU, MBHSRY hI ADORE B@ 4Yb9-7NGH59 SHES BE FIO PLFIVUT TIRES AIZHWEZY KI—-7ERORRET BaNtlL. SRLS AAI BSORMMIL/MBSEEOSS LJ al Gill a « _ ye nn Eithia RT TC AR APAYRI-DJ fyvgI-AYb 37 \p CBEOARDICSHISEIbERe BAL. BED SRRPIeA Mis. OP RYhI-FD, €ELTIVI-RVbECEY—-ALAZ CERT SRY KR DT-DeBBELOC

  38. Slide 38: Mobile EBITDA turnaround and subscriber trends

    AY hI—TREEICE URI SEUYEBITDAY—DY HM QU/25TEBITDAY—YIUSFIAMRIY 3 ic. BAS —EKS SMITH THY. SHOBMAUSICHL, BRLNLY LS SICH MQH+ EN VIIY ATOR BGR < HY KI-JIZh (ILA Y KI-DEDS CRS - B GLALKRRUMGRMRR< SCRA s,-<I- ~ a ZOWeER A-hA-YVavick SMEAR ~ (+488) BRELNLy VeseR~ me . ea SGRAIE 22 24 25 25 a ay ho-357)) >

  39. Slide 39: Rakuten Mobile: Q1/25 KPI

    FEREINA ILE: Q1/25 =SBKPI 2200 HEeMNORME? ARPU™ (2025%3R 310m) (aves) (@1/25) 8635 1.56% 2.8275 a MNOY—EZRLE +31.9% (Sam) BISA 47,687] Qv23 2/23. 43/23. 4/23 N24 2/24 3/24 2425 TSCMEMESDNNG, MYNERUMVNOD SETI. BCP. BZBIC BUY Business Contin Pla GWE ROARS NTSC PHROMMCMUCPRA BABES AS REMERNEMNE. ote RE

  40. Slide 40: Mobile subscriber trend

    MNOMHERIS. 3000 /G+4HN—2N5 Sees BT B FAME LOSER. 5. SHE TORELL AICS UREN (MER) a4/2316828ER POR (Fe) Bice —SBB2BO R= BCPSaR~ BeLERa N 427 7 7 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Qve5 SEABRICHU TELE LARODBICH CPS OMNES LBM R 40 © DW+EHOMBMISMWZ0HCRWITWNET. BOMTmBIC KEK WSRMISDO A SNELED,

  41. Slide 41: +16.9% +43.4% +38.1% +15.6% +22.3% ⚫

    +16.9% +43.4% +38.1% +15.6% +22.3% 41 ⚫

  42. Slide 42: Churn rate

    eee BHAT S UME SF SHBORAELAC HEN LENDER L., SOO LASSRRICHS EO BRT ICAU RMRISRILE RAG SGBet RakutenBHTS YO cate _ fat 75> : n ie M(SmeeIC Ets) BeHT al BRIC FPL BR FU VRE BY Et a 2.10% Q1v/23 Q2/23 Q3/23 Q4/23 Qv/24 Q2/24 Q3/24 Q4/24 “BACH TRO LAACRML ROM RU RABRICSI SALE LHRORBICH CCPHORABEL ROR ORER

  43. Slide 43: MNP trend

    MNPSiw kKLY EK B KUBO S DWE FOREN CRO LARACCORtOOWEISEM. 2F3AORME LAS. SREARUSS + U7 ORNS y YN VIRIAL TSU, BRRTICAURURIEE RAS BAC, TSSSUSCATTSHEMAALC FORMAN EE CHS CRS smen+ {http YN — DIE HTS MEIC AE SRMIELA CH Sg oO Bet Ait — 246A 247A 248A 2459 249F10A 245118 24912 251A 252A 253A 25545 PCRSRUEE,

  44. Slide 44: Data traffic and traffic growth

    6S on CSIC eT RE ERS = HE M2025 AI210,000+ a OE e te B CNICEY, ANDY Yh-WOAMMME RASCH, ADKPLY PICS SEMEN *1 (4G+SGHHHFGRR) Tas a VOC? 9.45 7 nS ANLYIDHR—-I Hue » Fr NUT + Sate s BRASIL RWS MSM Q1/20 Q1v/21 Qiv/22 Q1/23 Q1/24 Qv/25 R 44 QV SMe SeIRI SELON AY KI-7RBOMNSHTHe Lb T. 2025FARE CTlC10, 000K

  45. Slide 45: Airline roaming partners

    25964. #AO-SYIAZI—b MH OH REAHOMRE TEMA - BART L TRAE AAALAC 9 9 an Biman Bangladesh see Aer Lingus Asiana Airlines Airlines Cathay Pacific EgyptAir Emirates Airline Etihad Airways EVA Air ITA Airways Kuwait Airways Lufthansa Malaysia Airlines SAS cate al Singapore Airlines SWISS Tap Air Portugal Tu

  46. Slide 46: AST SpaceMobile

    AST SpaceMobile : 2025%4A, BARN TORRIC MD MH 2026FRE TICHCOROMAMSITS LIT SHH. 20267404 COBAY—E AMS BES HAST SpaceMobilen¥—EZISEA CISRREI 1 ILO MHS" Rakuten fbi fatee P—-CA St PITH 64.4ni du . See #4 6.2ni a2 (Block ais 223ni) | 202K FEARAYR—Z FEAKAYL-Y see = | SFE - SRIBEE F-Fie HERE -Y—Y > LAT 14 P

  47. Slide 47: Video

    VIDEO 47

  48. Slide 48: Mobile network and cost initiatives

    REIT T B HSRHOKSCEORMMACMAT. SHSF vy RIV HOBIE BAYS YO4AIS 1AM COME CHS N—A2MREoS + ~miBRRTOVSL, RSTOTILS. Btesl - HHO FTOVS LR M 20-40f¢ialc 2024FE TO + YDPSWI-TF IVT AYI1 VER CORR SGMGRR | ee75y2Fb1—-¥—AIT MSR M BOSE + BMABEhHe UERBLEORM + “20245 RO RG 20255 Re rte reesei 0 RR OMe FER er ee Lee 0

  49. Slide 49: Network cost and traffic

    Yay 7 x RE CTREBON-—AZAPy TEMS B RRBOADICMS SRAEN 1 I ORHSRS25F3A RCo BB Yay 7x tieeis eT. SHORBRON-—APyYFERMISCET. RHSAMOMAMZe BET 8.0% MPBICSW TSE SSS Yay 7 xis T =| y i q 7.0% RAR? »y TEBE R-Z2PITF 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% EARS ESRE RAE RARER DMA eM ie GiIGRRRRR ERA “SEAR ADU SMO IGREER

  50. Slide 50: Subscriber numbers

    2,812 2,821 2,801 2,857 2,827 800 762 746 749 845 35 36 91 56 37 194 193 200 201 195 91 88 84 83 84 1,708 1,719 1,732 1,737 1,651 50 ⚫ ⚫

  51. Slide 51: MVNO and Rakuten Energy Communications

    ENT DEKE LEBSSYFY—-AHICO RII) FAR eRe MO ABBICEY, BEMACANL—YsaYMHLeee Rakuten Mobile 252A WRG 2545 —Baere RREINA IDXRBETAED RBRISALT-VayvAn YIV—-BAIE YVUA-YaVITYPIVIEe JOAzI—Zikie ABRICMYV AHP v TRIBE Rakuten Rakuten Energy Communications seicgne JRE GAREIC NRERLIOND HE vupmsmacyouamcute R 51 @ ENTI

  52. Slide 52: Unified Communications as a Service

    *1 2025 *2 Unified Communications as a Service 52 ⚫

  53. Slide 53: Rakuten Symphony

    Rakuten Symphony R @ RICKAYYIALDAHICOWTHP VY SIF—hAOUCHEET.

  54. Slide 54: Rakuten Symphony: Q1/25 results

    RRY VI 4 —— Q1/25 BREW B MIB CORNS hits B OOCON-bKt-Yy Tee k. SROBBY VA—-Y a RMS mE (PoCSS) RIN-bt—YDy Tete (Hab) "veo kyiecter sian sapH Y POpen RANS 17 YY IFOTSLOBAMRM ’ oe s'- kvisctap § [BC Tech KE, stftealas a | Telkom | Mahindra Coven cisco (RAN) (RAN) S JS9FVUa—YayIO—/ URE a: (Rink ClassNIX G

  55. Slide 55: Mobile initiatives

    HAMBMRBIC OUT (ENT Ib) B82. HEMANICSWTEBENCRELEL. SROKREEH Q1/25 (1~3A) &# Etcore SRBE INSURE SS: MARSA MRHRA THES L. BE : +S AMOLAICSS SBREI7 +b Leo BE: EEL o RENT BUBOMEXEEROMBSL ie: ARR RADANESICRR HAG | BEL HYG : EL LeaS, HBSOBERREL einai OBENRE, RENT I ADRITS BE: REGUL . BS : KEN SORBS< REGL BE

  56. Slide 56: Group financing

    © CIMBeHBSLCSVET RRM 5S CHHUECLED.

  57. Slide 57: Group outlook and EBITDA

    RAR RES B FARRMMESTIOMROHTS. TeREMMOMMBAR - ORTH B KRRSEHLOIS. MHRBRICOWTERARBISEL Fst RELLMBSROWRCBUIGRARSIC SSR MEL BHILS y OMNES e HY PUNCHES Se BT nS - DP BROWNE TR : -BRTARON a | engae o2 hee MBB |. emaegE27y 3-10 bo-1 =p JRSM AAT AIR */3FRYSENON-GAAP EBITDA “Sia SRE CHALR10% +3: SRIGNon-GAAP E

  58. Slide 58: Outlook 2025 and 2026 targets

    tt B SWGARMEFRICLY, BESHIT AUT 1 CERMICM, RENGMRESEIS © 2026%4AICMHI—-WB SOAS KIB CKARBAICOW Tit. WHI—/VA COMPRAR e HES Set 2025 (cm VARI SARS AA 20265 LUE IC HHA BRS SHUTS A a Are Fy SHER 2025 (chia tWASSTOUHGOBRE TRAY O ENTVEBC7I—TACORR (NI FU y KBOUPLIAZXYbEBS) gd BINH / See. AMSCHE/ KASCE O sere

  59. Slide 59: Debt maturity profile

    JO-NIVYIORARBREORS (ME) B Bf: 7b Yy bRIKICHS AT LY KT, N—A2RAMLRLECUTH, SHOMERAISE MAG B AS: BERICRILEARE CHAI THRATy SEMEL CUSRORA - SARE AY. REL, SRAM BME SEAT SNSYAY—hAOKEIER Et ae % ae Ee F . 65,591% BRIN — TRASH AE CH j B 5 Ps 20298 AFR 3.034083 EJB REBRRAER 2024/40 | ovo 6.0393% 4 202742 iB 19

  60. Slide 60: AI initiatives

    @ BSR. CACHES. BKRTIVD-—FOF-JAI&F-—IAIAN—-O, Fay: VPI. AAS, AUNCOUCTORMAOKREMOAIP NI-PEGALES., BRR CHBRLISOShEVEAIDAYM SEEMS.

  61. Slide 61: AI-nization Day

    ERITSITS Al-nization Tay Vision AONCAMOBEAIERHS HARD 5 tLys OpenAl d = < SUBSE «=, © eo &®. WRBD LRD ane AFAR IOND N (3) Rakuten Rakuten | 4I=-TJIR AYIt(v+AIIIyY REDEDD F-IPRYb Fryar [Ia4nhT—Ib) oO-k mH m2H 538 . Fa-T Rat ABS olt VwyT 5-iV7EER Rakuten Al Rakuten Al R 61 e@ 6S. N-— ht. CUTRATI—-FOURB

  62. Slide 62: Rakuten AI products

    /CPC Rakuten AI for Rakutenians Rakuten AI for Business Rakuten Analytics A/B Rakuten AI 2.0 & 2.0 mini Rakuten AI Assistant Snap & Ask Rakuten Analytics Rakuten AI for Rakutenians Rakuten AI 62 ⚫

  63. Slide 63: Q1/FY2024 Q1/FY2025

    • • • Q1/FY2024 Q1/FY2025 63 ⚫ ⚫ ⚫

  64. Slide 64: Rakuten AI usage and results

    PRIOE—VarvIsy hI4-hLEBCKLEAOAIBM B AIPWIVUALOMEIC LY, GEERUBKOMMBEHALES RAFOE—YayvFayhks74z—-h F-—9-—R/DU y PEL IA YF —Y 3 RE +—T-KCmBCAMR EER TSCET. ei a HISSIC c SRRLS\ OM MERE SAIC MEO tate e hett RBRBSTIVy 7B BRUITAZKSLV RSE BSF IRAE +5.9% = rl BUSFRIRALE +13.7% : av24 ava R 64 © AZBALELEODHCH.

  65. Slide 65: Rakuten AI for Rakutenians

    Rakuten Al for Rakutenians BM Y-TF 17. ANL—-Vary, L-WA, LYYIPUVY ISS, HRMS MRS OE 16,000u, ~80% CNE TcRakuten AIA THEMENEAAI LAY —Ib +» FYFL— bw AZBALRYIbIIL PHT. 13,000AL EOD Rakuten Al SRF Ray V—-2AR COMMS its = @ O = Get All: SBUREE KA a XD HERE DFAT BIFZY FFA MBH YT AT TT CRM AUITESYIRVIPTORIA T

  66. Slide 66: Rakuten AI 2.0 LLM and 2.0 mini

    HETIL: Rakuten Al 2.0 LLM & 2.0 Mini #®4A-PFYEFIVE L CHAAEIC B BHMRORUCSCT ILA, FRROGAA (20252A128) TORMBOLLM CmiaLNILOBAENI 4 -VUZERH RAKUTEN Al 2.0 8x7B RAKUTEN AI 2.0 MINI1.5B MIXTURE OF EXPERTSLLM SLM (\iRBHE TIL) 301 OF AL-YavenkeF-—Ivyb AYBD-ILYYCOMA BEC NEE RRA TBO SSO MRI A Kik2.515 OHMS COD

  67. Slide 67: Rakuten AI Assistant: Snap & Ask

    Rakuten Al Assistant: [Snap & Ask] #82 B Bh vy I7—hickY, ALBA L EMSAM. BAOMASLS(CM LSADBEIC ATv71: Ste Xia, Bi, ARS _ 7 BITTE DOOD GHEE _ AFvTF2: AllcH< LTR G5SOSSBACTHA bh CRBICMR @ HMC RAS MBC & B<sauw Sean OAR SIBMRL, LE I-@#RLY BYUITY CBA co I ecnone S&S brcKkAIS RICBSERNMO BR. (EVAQ meet a LOTC

  68. Slide 68: AI and regional initiatives

    S@CORS > BAMB<., L-Vry KRAIDAR B RMOKLURCRMEMZENL, RALIVATAICMNSSTORR. MB. N—bF—-MAIZLY FRI, SUBD. FLTAU HICH CE SREBEST @ 2) © AHMCAILT-—LIYbkO RIERAIAORA ALCS SMB AEO 11 Hi) = (Rie AME PIMCHABNS. AICES MBOT-IERXA VMAS EBL, L-FDrY bh BAO ME GSB BL. BANGER EGLERRTSY—ILE DIA PYEE-BAREORRURO EDRAN-hF-

  69. Slide 69: Rakuten

    Rakuten

  70. Slide 70: ABAICHMIANKRAY PHS CSB EM MC ORAO HM CHU, COMBO ERESRET SEN TSOVECA,

    \p ABAICHMIANKRAY PHS CSB EM MC ORAO HM CHU, COMBO ERESRET SEN TSOVECA, BALRBROBILCHEU, RRORAPMRE SAS < RR STAEMHSCCECTAC ESL MAPICHMNAHA, RMBSSHOSRBRELISBETI.

Rakuten Group — Q1 2025 Earnings Presentation on 6ix