Bleach, Inc. · TSE:9162
Bleach — Q3 FY2026/6 Earnings Presentation
43 slides from Bleach's earnings presentation, May 15, 2026
Slide 1: FY2026/6 Q3 Consolidated Financial Results Presentation
FY2026/6 Q3 Consolidated Financial Results Presentation Bleach, Inc. (Securities Code: 9162) May 15, 2026
Slide 2: Contents
Contents 1 FY2026/6 Q3 Financial Results ・・・・・ P.03 2 FY2026/6 Growth Strategy ・・・・・ P.19 3 Company Overview / Business Model ・・・・・ P.29 4 Shareholder Returns ・・・・・ P.35 5 Frequently Asked Questions ・・・・・ P.37 Copyright© BLEACH Inc. All Right Reserved. 2
Slide 3: FY2026/6 Q3 Financial Results
FY2026/6 Q3 Financial Results Copyright© BLEACH Inc. All Right Reserved. 3
Slide 4: Financial Highlights
FY2026/6 Q3 Financial Results Financial Highlights Consolidated net sales Advertising profit / ROAS*1 Consolidated operating profit JPY 12,596mn JPY 2,142mn -JPY 197mn -JPY384mn/-15.2% YoY –JPY64mn/-0.5% YoY -JPY568mn YoY ROAS 121.1% • As a measure to expand the • To create future profit • Expanded
Slide 5: Net Sales Trends (By Product/Category)
FY2026/6 Q3 Financial Results Net Sales Trends (By Product/Category) We adjusted net sales in the short term by implementing ad operations that focus on profitability (ROAS) in light of rising advertising unit prices in advertising media. As a measure to expand product portfolio, proactive advertisi
Slide 6: Financial Highlights (Quarterly Comparisons)
FY2026/6 Q3 Financial Results | Non-Consolidated Financial Highlights (Quarterly Comparisons) FY2025/6 FY2026/6 Key items Unit Q1 Q2 Q3 Q4 Q1 Q2 Q3 Net sales (JPY mn) 3,911 4,383 4,365 4,429 4,251 4,277 3,758 Advertising profit (JPY mn) 676 970 879 857 871 721 537 P L Operating profit (JPY mn) -70 2
Slide 7: Net Sales and Advertising Profit
FY2026/6 Q3 Financial Results | Non-Consolidated Net Sales and Advertising Profit*1 Change in net sales Change in advertising profit (JPY mn) (JPY mn) 17,088 3,382 13,805 4,429 857 12,287 Q4 2,925 2,307 2,142 4,365 3,758 Q4 422 879 Q3 3,455 549 Q3 600 4,383 4,277 721 Q2 3,659 970 Q2 589 Q1 3,766 3,9
Slide 8: Change in Products by Rank (Quarterly Comparisons)
FY2026/6 Q3 Financial Results | Non-Consolidated Change in Products by Rank (Quarterly Comparisons) As a measure to expand product portfolio, we made upfront investments in developing new categories and products, resulting in a record-high number of products. The pipeline development through the exp
Slide 9: Net Sales by Product Rank (Quarterly Comparisons)
FY2026/6 Q3 Financial Results | Non-Consolidated 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 for new products and categories. We adjusted net sales
Slide 10: Change in Advertising Profit and ROAS
FY2026/6 Q3 Financial Results | Non-Consolidated Change in Advertising Profit*1 and ROAS*2 We made upfront and proactive advertising investments for future profit growth in line with the increase in new products and new categories. Amidst rising advertising unit prices in advertising media, advertis
Slide 11: No. of Marketers, Net Sales Per Marketer
FY2026/6 Q3 Financial Results | Non-Consolidated No. of Marketers*1, Net Sales Per Marketer The number of marketers increased by 32 YoY to 114 due to the recruitment of marketing personnel in anticipation of business expansion in the medium- to long-term. Although net sales per marketer decreased du
Slide 12: Net Sales by Support Recipient, No. of Client Companies Supported
FY2026/6 Q3 Financial Results | Aurum Tech Net Sales by Support Recipient, No. of Client Companies Supported 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
Slide 13: Aurum Tech Supported Clients Results
FY2026/6 Q3 Financial Results | Aurum Tech Aurum Tech Supported Clients Results We steadily expanded supported clients such as domestic and overseas manufacturers, creating opportunities to generate revenue. We aimed to generate stable profit by purchasing the clients’ products and controlling the p
Slide 14: Global Expansion and Evaluation of the JOVS Brand
FY2026/6 Q3 Financial Results | Aurum Tech Global Expansion and Evaluation of the JOVS Brand JOVS light-based beauty Overseas influencers International exhibition International design award equipment Actively exhibited in major Grown into a brand that is favored international exhibitions such as Glo
Slide 15: Aurum Tech Support Example: JOVS Brand
FY2026/6 Q3 Financial Results | Aurum Tech Aurum Tech Support Example: JOVS Brand The JOVS brand is a global brand that develops smart beauty equipment using light-based beauty technology and has established a world-class position in the at-home beauty device field. In recognition of AT’s support sy
Slide 16: Quarterly Trends in the Consolidated Statement of Income
Appendix Quarterly Trends in the Consolidated Statement of Income*1 FY2025/6 FY2026/6 (JPY mn) Q1 Q2 Q3*1 Q4 Full-year total Q1 Q2 Q3 Total Net sales 3,911 4,383 4,365 4,500 17,160 4,431 4,302 3,862 12,596 Advertising 3,234 3,412 3,485 3,572 13,704 3,379 3,556 3,208 10,144 expenses COGS of products
Slide 17: Consolidated Statement of Income Overview
Appendix Consolidated Statement of Income Overview Consolidated net sales FY2025/6 FY2026/6 Percentage (JPY mn) Change Q3 Q3 change • Sales are in an adjustment phase due to increased number of core products through product portfolio expansion measures and operations Net sales 12,660 12,596 -64 -0.5
Slide 18: Consolidated Balance Sheet Overview
Appendix Consolidated Balance Sheet Overview End of June, End of March, Percentage (JPY mn) 2025 2026 Change change Cash and deposits Cash and deposits 8,899 7,098 -1,800 -20.2% • Decreased mainly due to advance payments to suppliers related to Accounts receivable - trade 1,654 1,658 4 0.2% merchand
Slide 19: FY2026/6 Growth Strategy
FY2026/6 Growth Strategy Copyright© BLEACH Inc. All Right Reserved. 19
Slide 20: Disclosure of Earnings forecast for FY2026/6
Disclosure of Earnings forecast for FY2026/6 The external business environment surrounding the Company remains uncertain due to the impact of revisions in advertising-related laws and regulations, changes in rules for some advertising media, fluctuations in Internet advertising unit prices, and othe
Slide 21: FY2026/6 Growth Strategy
FY2026/6 Growth Strategy Build a portfolio of businesses by strengthening the customer base through expansion of the product portfolio and support areas and achieve continuous and stable growth through recruitment and training of human resources and investing in IT. 1. Expansion of the product • In
Slide 22: Growth Strategy - 1. Expansion of the Product Portfolio (1/2)
FY2026/6 Growth Strategy - 1. Expansion of the Product Portfolio (1/2) In FY2026/6, we will develop new products and our customer base by expanding our support areas such as our sales infrastructure. Image of development into new categories • Expand the number of non-e-commerce web visitors and appl
Slide 23: Growth Strategy - 1. Expansion of the Product Portfolio (2/2)
FY2026/6 Growth Strategy - 1. Expansion of the Product Portfolio (2/2) We will utilize marketing data accumulated in our in-house database to strengthen our upstream value-chain consulting capabilities and strengthen our customer base by accelerating growth and expanding the scope of support. Contin
Slide 24: Growth Strategy - 2. Expansion of Marketing Methods
FY2026/6 Growth Strategy - 2. Expansion of Marketing Methods Expand customers reached by developing new advertising media. Expansion of advertising media used Expansion of marketing methods • Expand marketing methods to video advertising, listing ads, e- commerce malls, influencers, etc., in additio
Slide 25: Growth Strategy - 3. Enhancement of Recruitment / Training
FY2026/6 Growth Strategy - 3. Enhancement of Recruitment / Training Create excellent marketers in a manner that can be repeated by refining our strong recruiting ability to attract talented people and training program that makes inexperienced individuals into our workforce at an early stage. Hiring
Slide 26: Growth Strategy - 4. IT Investment and AI Utilization
FY2026/6 Growth Strategy - 4. IT Investment and AI Utilization We collect and centrally manage our marketing-related data measured in various advertising media and automatically analyze it using our proprietary system to speed up and streamline advertising investment decision-making. Data collection
Slide 27: Growth Strategy - 5. Expansion of Manufacturer Support Functions (1/2)
FY2026/6 Growth Strategy - 5. Expansion of Manufacturer Support Functions (1/2) Expand integrated support functions from upstream to downstream, from product concept design to sales infrastructure construction. Widen the range of support areas to expand multi-layered revenue opportunities for the Gr
Slide 28: Growth Strategy - 5. Expansion of Manufacturer Support Functions (2/2)
FY2026/6 Growth Strategy - 5. Expansion of Manufacturer Support Functions (2/2) Comprehensive support from value maximization to sales channel design and logistics operations by identifying the intrinsic charm of products. Through collaboration between AT and Bleach, we will become a business partne
Slide 29: Company Overview / Business Model
Company Overview / Business Model Copyright© BLEACH Inc. All Right Reserved. 29
Slide 30: Company Overview
Company Overview Company name | Bleach, Inc. Corporate Philosophy Representative | Keisuke Odaira, CEO Illuminate the World Location | 21F Nakameguro GT Tower, 2-1-1 Kamimeguro, Meguro-ku, Tokyo, Japan We will contribute to the creation of a richer society by Establishment | April 28, 2010 shining l
Slide 31: History
History April 2010 November 2016 • Established as • Started our current core July 2023 Japan Weblink Co., Ltd. business of sharing-type integrated marketing business • Newly listed on the Tokyo Stock Exchange Growth Market March 2013 January 2022 • Company name • Headquarters moved to changed to Meg
Slide 32: Our Business Model
Our Business Model We have adopted a revenue sharing system as our main model, where we receive compensation based on performance. This allows us to offer marketing support that does not require initial fees and limits the cost risk, and supports a wide range of companies including small and medium-
Slide 33: Support Scheme for the Revenue Sharing System
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. In addition, we provide a co-creative support scheme aimed at sustainab
Slide 34: Revenue Model of Our Revenue Sharing System
Revenue Model of Our Revenue Sharing System Our revenue share amount (equal to our net sales) is calculated by multiplying the revenue share unit price agreed upon with the client beforehand and the number of new users acquired by us. In addition, we track ROAS as a profitability metric, investing i
Slide 35: Shareholder Returns
Shareholder Returns Copyright© BLEACH Inc. All Right Reserved. 35
Slide 36: Shareholder Returns
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 most important management issue
Slide 37: Frequently Asked Questions
Frequently Asked Questions Copyright© BLEACH Inc. All Right Reserved. 37
Slide 38: Frequently Asked Questions (1/4)
Frequently Asked Questions (1/4) No. Questions Answer 1 What are the strengths of your services and what Our strength is our ability to win many new users while fixing cost per acquisition (CPA). Clients can added value do you provide to clients? fix the CPA in advance, as we use a revenue sharing s
Slide 39: Frequently Asked Questions (2/4)
Frequently Asked Questions (2/4) No. Questions Answer 4 There are other types of firms providing performance- Our core business is the revenue sharing model; we charge no initial fees or consulting fees. Another based or KPI guaranteed marketing support, so what feature of our company is our in-hous
Slide 40: Frequently Asked Questions (3/4)
Frequently Asked Questions (3/4) No. Questions Answer 7 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 increase. Because of this, we ha
Slide 41: Frequently Asked Questions (4/4)
Frequently Asked Questions (4/4) No. Questions Answer 11 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 monthly revenue share amoun
Slide 42: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements This presentation contains forward-looking statements, including estimations, forecasts, targets and plans. Such forward-looking statements do not represent any guarantee by Bleach, Inc. (the “Company”) of future performance. Any forward-looking s
Slide 43: BLEACH
| BLEACH