Bleach, Inc. · TSE:9162
Bleach — FY2026/6 Earnings Presentation
60 slides from Bleach's earnings presentation, Aug 14, 2026
Slide 1: FY2026/6 Consolidated Financial Results Presentation
FY2026/6 Consolidated Financial Results Presentation Bleach, Inc. (Securities Code: 9162) August 14, 2026
Slide 2: Contents
BLEACH Securities Code: 9162 Contents 1 FY2026/6 Financial Results ・・・・・ P.3 2 Business Plan and Growth Potential ・・・・・ P.17 3 Shareholder Returns ・・・・・ P.53 4 Frequently Asked Questions ・・・・・ P.55 Copyright © Bleach Inc. All Right Reserved. 2
Slide 3: FY2026/6 Financial Results
FY2026/6 Financial Results Copyright © Bleach Inc. All Right Reserved.
Slide 4: Financial Highlights
FY2026/6 Financial Results BLEACH Securities Code: 9162 Financial Highlights Consolidated operating Consolidated net sales Advertising profit / ROAS*1 profit JPY 17,179 mn JPY 2,977 mn -JPY 330 mn -JPY477mn/-13.8% YoY +JPY19mn/+0.1% YoY -JPY767mn YoY ROAS 121.7% • The product portfolio expansion and
Slide 5: Net Sales Trends (by Product/Category)
FY2026/6 Financial Results BLEACH Securities Code: 9162 Net Sales Trends (by Product/Category) As a measure to expand the product portfolio, we continued proactive advertising investments in new products and new categories. The financial services category expanded and new products of the JOVS brand
Slide 6: Financial Highlights (Quarterly Comparisons)
FY2026/6 Financial Results | Non-Consolidated BLEACH Securities Code: 9162 Financial Highlights (Quarterly Comparisons) FY2025/6 FY2026/6 Key items Unit Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Net sales (JPY mn) 3,911 4,383 4,365 4,429 4,251 4,277 3,758 4,440 Advertising profit (JPY mn) 676 970 879 857 871 721 549
Slide 7: Net Sales and Advertising Profit
FY2026/6 Financial Results | Non-Consolidated BLEACH Securities Code: 9162 Net Sales and Advertising Profit Change in net sales Change in advertising profit (JPY mn) (JPY mn) 17,088 3,382 16,728 2,977 857 13,805 4,429 4,440 2,307 834 Q4 2,925 Q4 422 879 4,365 3,758 549 Q3 3,455 Q3 600 4,383 4,277 97
Slide 8: Change in Products by Rank (Quarterly Comparisons)
FY2026/6 Financial Results | Non-Consolidated BLEACH Securities Code: 9162 Change in Products by Rank (Quarterly Comparisons) As a measure to expand the product portfolio, we made upfront investments in developing new categories and products, resulting in a record-high number of products. The pipeli
Slide 9: Net Sales by Product Rank (Quarterly Comparisons)
FY2026/6 Financial Results | Non-Consolidated BLEACH Securities Code: 9162 Net Sales by Product Rank*1 (Quarterly Comparisons) The number of products handled increased due to a measure to expand product portfolio, and we continued to make upfront advertising investments in new products and categorie
Slide 10: Change in Advertising Profit and ROAS
FY2026/6 Financial Results | Non-Consolidated BLEACH Securities Code: 9162 Change in Advertising Profit*1 and ROAS*2 We continued to make upfront and proactive advertising investments to develop new products and new categories. 128.4% (JPY bn) 125.3% 125.8% 122.7% 123.5% 120.7% 120.9% 123.1% 119.2%
Slide 11: No. of Marketers and Net Sales Per Marketer
FY2026/6 Financial Results | Non-Consolidated BLEACH Securities Code: 9162 No. of Marketers*1 and Net Sales Per Marketer The number of marketers increased by 26 YoY to 133 due to the recruitment of marketing personnel in anticipation of business expansion in the medium to long term. Although net sal
Slide 12: Net Sales by Support Recipient
FY2026/6 Financial Results | Aurum Tech BLEACH Securities Code: 9162 Net Sales by Support Recipient Sales of the newly launched product “Dora Scroll” have expanded following the completion of the transfer of the JOVS brand online mall. The number of clients we support continues to grow and sales of
Slide 13: Quarterly Trends in the Consolidated Statement of Income
Appendix BLEACH Securities Code: 9162 Quarterly Trends in the Consolidated Statement of Income FY2025/6 FY2026/6 (JPY mn) Q1 Q2 Q3*1 Q4 Full-year total Q1 Q2 Q3 Q4 Full-year total Net sales 3,911 4,383 4,365 4,500 17,160 4,431 4,302 3,862 4,582 17,179 Advertising expenses 3,234 3,412 3,485 3,572 13,
Slide 14: Consolidated Statement of Income Overview
Appendix BLEACH Securities Code: 9162 Consolidated Statement of Income Overview Percentage Consolidated net sales (JPY mn) FY2025/6 FY2026/6 Change change • The number of products handled increased due to product portfolio Net sales 17,160 17,179 19 0.1% expansion measures. • AT expanded sales of JO
Slide 15: Consolidated Balance Sheet Overview
Appendix BLEACH Securities Code: 9162 Consolidated Balance Sheet Overview End of June End of June Percentage Cash and deposits (JPY mn) Change 2025 2026 change • Decreased mainly due to the repayment of loans (-JPY0.72bn) and the Cash and deposits 8,899 6,786 -2,112 -23.7% purchase of products at AT
Slide 16: Net Sales Trends by Product and Category
Appendix BLEACH Net Sales Trends by Product and Category Securities Code: 9162 FY2025/6 FY2026/6 (JPY mn) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Total 3,910 4,383 4,365 4,500 4,431 4,302 3,862 4,582 Bleach 3,910 4,383 4,365 4,430 4,247 4,270 3,758 4,440 Functional foods 1,170 1,510 1,176 1,439 1,290 1,324 1,226 1,
Slide 17: Business Plan and Growth Potential
Business Plan and Growth Potential Copyright © Bleach Inc. All Right Reserved.
Slide 18: Disclosure of Earnings Forecast for FY2027/6
BLEACH Securities Code: 9162 Disclosure of Earnings Forecast for FY2027/6 We will strive to achieve continuous and stable business growth by diversifying the revenue base and improving the predictability of our business performance through the expansion of the product portfolio and support areas and
Slide 19: Evolution into a Marketing Platform
Growth Strategies | Growth Story BLEACH Securities Code: 9162 Evolution into a Marketing Platform Build a model that grows together with clients’ sales based on accumulated data. Build up business in three stages: deepen business, expand support areas, and M&A. From individual growth to growth as a
Slide 20: Expansion of Target Markets
Growth Strategies｜Marketing Business Growth BLEACH Securities Code: 9162 Expansion of Target Markets Use our strength in display advertising to develop our marketing abilities into video, influencers, e-commerce malls and other advertising markets, and expand target markets. Beyond Expand areas we e
Slide 21: Monopolize, Extend and Enlarge Transactions through Involvement of Upstream Processes
Growth Strategies｜ Marketing Business Growth BLEACH Securities Code: 9162 Monopolize, Extend and Enlarge Transactions through Involvement of Upstream Processes Use accumulated marketing data as a weapon and get involved from upstream processes such as market analysis, overall strategy, and product p
Slide 22: Aurum Tech: Sales Infrastructure Support Functions
Growth Strategies BLEACH Securities Code: 9162 Aurum Tech: Sales Infrastructure Support Functions By combining Aurum Tech’s sales infrastructure with our marketing support, we will expand the scope of support as a group to companies (OEMs, etc.) that have products but have issues with “sales capabil
Slide 23: IT and AI Utilization: Expanding Ability to Execute Through Data Foundation and Generative AI
Growth Strategies BLEACH Securities Code: 9162 IT and AI Utilization: Expanding Ability to Execute Through Data Foundation and Generative AI We are utilizing generative AI for production, analysis, and research on an integrated data management foundation. From now on, we will expand the scope of AI
Slide 24: Recruitment and Training of Human Resources
Growth Strategies BLEACH Securities Code: 9162 Recruitment and Training of Human Resources: Training Process to Make Inexperienced Employees Competitive Quickly We have brushed up our recruiting ability to acquire excellent human resources and training program to quickly turn inexperienced employees
Slide 25: M&A: Business Growth Through the Restructuring of Marketing
Growth Strategies BLEACH Securities Code: 9162 M&A: Business Growth Through the Restructuring of Marketing Restructure and grow acquired companies by taking advantage of our marketing data and execution capabilities. Inorganic growth through M&As targeting B2C businesses that can enhance growth pote
Slide 26: Company Overview
Company Overview Copyright © Bleach Inc. All Right Reserved.
Slide 27: Company Overview
BLEACH Securities Code: 9162 Company Overview Company name Bleach, Inc. Corporate Philosophy Representative Keisuke Odaira, CEO Illuminate the World 21F Nakameguro GT Tower, 2-1-1 Kamimeguro, Location Meguro-ku, Tokyo, Japan We will contribute to the creation of a richer society by Establishment Apr
Slide 28: History
BLEACH Securities Code: 9162 History 2010 2013 2016 2022 2023 2025 2026 April 2010 July 2023 May 2026 November 2016 Established as Japan Weblink Co., Ltd. Newly listed on the Tokyo Stock Exchange Established Minori Natural Started our current core business of Growth Market. Foods Co., Ltd. sharing-t
Slide 29: Business Environment
Business Environment Copyright© BLEACH Inc. All Right Reserved.
Slide 30: Major Clients and Target Market
Business Environment BLEACH Securities Code: 9162 Major Clients and Target Market Traditional budget-based marketing support is focused on large companies that can secure ad budgets in advance. In our revenue sharing system, the Company bears advertising costs, enabling us to support small and mediu
Slide 31: Products and Services Supported by the Group and Potential Market Size
Business Environment BLEACH Securities Code: 9162 Products and Services Supported by the Group and Potential Market Size There is a vast market for cosmetics, daily goods, and functional foods, which are our main categories. We will expand into new categories to capture greater demand. Marketing bus
Slide 32: Internet Advertising Market and Domestic E-Commerce Market
Business Environment BLEACH Securities Code: 9162 Internet Advertising Market and Domestic E-Commerce Market The internet advertising market has grown at an average annual growth rate of 12.2%, exceeding JPY 4.0 trillion. Also, the domestic e-commerce market has surpassed JPY 20 trillion and is expe
Slide 33: Business Model
Business Model Copyright© BLEACH Inc. All Right Reserved.
Slide 34: Our Business Model
Business Model BLEACH Securities Code: 9162 Our Business Model We have adopted a revenue sharing system as our main model, where we receive compensation based on performance. We can support a wide range of companies including small and medium-sized enterprises through our marketing support that does
Slide 35: Comparison of the Two Support Models
Business Model BLEACH Securities Code: 9162 Comparison of the Two Support Models The revenue sharing system is superior to the conventional budget-based system in four respects: cost sharing, revenue linkage, strategic freedom, and target companies’ size. Our business model Revenue Sharing System Bu
Slide 36: Support Scheme for the Revenue Sharing System
Business Model BLEACH Securities Code: 9162 Support Scheme for the Revenue Sharing System We employ a unique performance-linked model in which marketing initiatives are implemented at the expense of the Company and a revenue share is received depending on the performance. Marketing execution Ad deli
Slide 37: Our Marketing Methods
Business Model BLEACH Securities Code: 9162 Our Marketing Methods Reach out to a wide range of potential customers through major large-scale advertising media in Japan and gain many new users while optimizing ad performance. User’s route from viewing ads to purchasing Major advertising Landing page
Slide 38: Create New Customers Through Collaboration with Aurum Tech
Business Model BLEACH Securities Code: 9162 Create New Customers Through Collaboration with Aurum Tech Add Aurum Tech’s sales infrastructure building support to our digital marketing support. Expand the scope of the target companies by supporting not only the “sales method” but also the “sales struc
Slide 39: A Business Structure with a High Barrier to Entry
Business Model BLEACH Securities Code: 9162 A Business Structure with a High Barrier to Entry For marketing support through a revenue sharing system, it is essential to build a competitive advantage, accumulate a large amount of data, and have an excellent marketers capable of doing so, and the barr
Slide 40: Management Indicators
Management Indicators Copyright© BLEACH Inc. All Right Reserved.
Slide 41: Overview of Management Indicators (KPI)
Management Indicators BLEACH Securities Code: 9162 Overview of Management Indicators (KPI) We have set three key management indicators: “product portfolio,” “advertising investment effectiveness,” and “marketing human resources base,” and disclose their progress quarterly. 1 2 3 Product portfolio Ad
Slide 42: Definition and Interpretation of Management Indicators
Management Indicators BLEACH Securities Code: 9162 Definition and Interpretation of Management Indicators We monitor the results of each management indicator on a quarterly basis and promote management that balances the expansion of the product portfolio and the human resources base with the mainten
Slide 43: Value Chain and Competitive Advantage
Value Chain and Competitive Advantage Copyright© BLEACH Inc. All Right Reserved.
Slide 44: Overview of the Value Chain
Value Chain and Competitive Advantage BLEACH Securities Code: 9162 Overview of the Value Chain Identify the potential of products (room for sales expansion) and grow sales using our marketing ability to mass produce “core products” that will become profit pillars. 1 2 3 4 Development and Operation a
Slide 45: Extensive Product Pipeline
Value Chain and Competitive Advantage BLEACH Securities Code: 9162 Extensive Product Pipeline Extensive product pipeline due to unique revenue sharing system fee model and substantial track record. Extensive pipeline through Information and preferential numerous inquiries and referrals treatment fro
Slide 46: Data-Driven Product Selection with High Accuracy
Value Chain and Competitive Advantage BLEACH Securities Code: 9162 Data-Driven Product Selection with High Accuracy Through high-precision selection based on historical data and our own know-how, we give priority support to products where future growth can be expected. Available products 1 Existing
Slide 47: Accurate Formulation and Implementation of Marketing Strategies
Value Chain and Competitive Advantage BLEACH Securities Code: 9162 Accurate Formulation and Implementation of Marketing Strategies We are fully committed to the sales growth of our customers. By bringing marketing functions in-house, we have achieved high-speed PDCA and high-precision strategies. Fe
Slide 48: Ad Investment System that Balances Sales Growth and Loss Avoidance
Value Chain and Competitive Advantage BLEACH Securities Code: 9162 Ad Investment System that Balances Sales Growth and Loss Avoidance Achieve both sales growth and profitability by monitoring each indicator in a timely manner and flexibly expanding investment when ROAS is high. Upturn in ROAS Downtu
Slide 49: Reallocate Resources to Growing Products
Value Chain and Competitive Advantage BLEACH Securities Code: 9162 Reallocate Resources to Growing Products Gradually shift internal resources to products with growth potential while monitoring results and market response. We do not rely on a single product but rather continuously discover and culti
Slide 50: Three Steps of our Winning Pattern
Value Chain and Competitive Advantage BLEACH Securities Code: 9162 Three Steps of our Winning Pattern Based on a “winning pattern” established with one product and one medium, we expand media and distribution through three steps. Start: “winning pattern” established with one product and one medium S
Slide 51: Risk Information
Risk Information Copyright© BLEACH Inc. All Right Reserved.
Slide 52: Major Risks and Countermeasures
Risk Information BLEACH Securities Code: 9162 Major Risks and Countermeasures Probability of Major risks and countermeasures Impact occurrence Risks related to revenue sharing system contract types Under this model, no revenue occurs if no results are achieved, so if the accumulation of know-how and
Slide 53: Shareholder Returns
Shareholder Returns Copyright © Bleach Inc. All Right Reserved.
Slide 54: Shareholder Returns
BLEACH Securities Code: 9162 Shareholder Returns To strengthen the Group’s financial position and prepare for future business development, we will retain earnings available for dividends and will not distribute dividends. However, we consider the return of profits to shareholders to be one of the mo
Slide 55: Frequently Asked Questions
Frequently Asked Questions Copyright © Bleach Inc. All Right Reserved.
Slide 56: Frequently Asked Questions (1/4)
BLEACH Securities Code: 9162 Frequently Asked Questions (1/4) Questions and Answers What are the strengths of your services and what added value do you provide to clients? Our strength is our ability to win many new users while fixing cost per acquisition (CPA). Clients can fix the CPA in advance, a
Slide 57: Frequently Asked Questions (2/4)
BLEACH Securities Code: 9162 Frequently Asked Questions (2/4) Questions and Answers There are other types of firms providing performance based or KPI guaranteed marketing support, so what makes your company different? Our core business is the revenue sharing model; we charge no initial fees or consu
Slide 58: Frequently Asked Questions (3/4)
BLEACH Securities Code: 9162 Frequently Asked Questions (3/4) Questions and Answers Are there any seasonal elements to your business? December to March of each year sees increased advertisement publication from other marketing support companies, so the unit price for online advertising tends to incr
Slide 59: Frequently Asked Questions (4/4)
BLEACH Securities Code: 9162 Frequently Asked Questions (4/4) Questions and Answers What are your KPIs and growth drivers? The number of core products and average sales per product. Core products are the drivers of our revenue and are specifically defined as products generating at least JPY 10mn in
Slide 60: Disclaimer
BLEACH Securities Code: 9162 Disclaimer • This document contains forward-looking statements. These statements were made based solely on information available at the time the statements were made, and such statements are not guarantees of future results and involve risks and uncertainties. Please not