Unerry, Inc. · TSE:5034
Unerry — Investor Presentation (October 2026)
59 slides from Unerry's investor presentation, Oct 7, 2026
Slide 1: Business Plan and Growth Potential Presentation Materials
unerry Inc. (TSE Growth Market: 5034) Business Plan and Growth Potential Presentation Materials September 2026
Slide 2: Agenda
1. About unerry 2. Competitive Advantages 3. Historical Performance 4. Mid-Term Growth Strategy 5. Human Capital Strategy Appendix ┗ What is unerry ┗ Business Model ┗ Financial Information ┗ Risk Information © unerry, Inc. 2
Slide 3: Mission and Vision
1. About unerry Mission and Vision Our aim “A Global Leader” of a data ecosystem company that fuses the real and digital Mission Vision Creating a comfortable unerry, everywhere future with data © unerry, Inc. 3
Slide 4: The World Enabled by unerry
1. About unerry The World Enabled by unerry Location-based Services Visualizing Seamless SALE NEWS COUPON STAMP PUSH Personalized coupons upon store entry Trade area analysis Fewer irrelevant flyers and less direct mail Instant news updates at the station Foot traffic analysis Relevant product coupo
Slide 5: Our Services
1. About unerry Our Services Analyze, advertise, personalize. Cover all DX needs Big data on consumer behavior AI Analysis with 1 billion+ IDs Profiling Real-Time Recommendations Transportation/ Situation Estimation Prediction of store likelihood AI BRAIN (1) Analysis (2) Advertisement (3) One to On
Slide 6: Business Model
1. About unerry Business Model Deploying 3 core services optimized for industry issues, powered by big data Markets Retail & Foodservice CPG Brands Real Estate / Government Overseas / Cross-Border Maximize In-store Sales Forecasting Competitive Analysis Decarbonization ♥ $ Fee Advertising and ♥ $ Fe
Slide 7: About New Leadership Team as of September 2026
1. About unerry About New Leadership Team as of September 2026 Founder and CEO Executive Vice President and COO Hidetoshi Uchiyama Shigejiro Suzuki Company unerry Inc. Name Completed University of Michigan, Ann Arbor 1999 Andersen Consulting 2000 PricewaterhouseCoopers Consulting (currently Accentur
Slide 8: Agenda
1. About unerry 2. Competitive Advantages 3. Historical Performance 4. Mid-Term Growth Strategy 5. Human Capital Strategy Appendix ┗ What is unerry ┗ Business Model ┗ Financial Information ┗ Risk Information © unerry, Inc. 8
Slide 9: Behavior Big Data that Fuses Digital and Real
2. Competitive Advantages Behavior Big Data that Fuses Digital and Real Location Big Data Consumer Behavior Big Data By combining location big data with diverse consumer data, Comprehensive location data capturing both outdoor unerry realizes integrated customer insights that bridge digital and real
Slide 10: Patented Technology
2. Competitive Advantages Patented Technology Building a shared beacon network across companies’ beacons. Core technology patents secured in Japan, U.S., and China Patent in Japan, U.S. Before Beacon Bank Solution and China*1 Retailer App Retailer Beacons Retailer App Retailer Beacons Map App Statio
Slide 11: Advantage over Competing Services
2. Competitive Advantages Advantage over Competing Services Our greatest advantage is the ability to seamlessly integrate outdoor and indoor data to predict consumer behavior and deliver relevant information in real time. Real-Time / Base Station Wi-Fi GPS Camera Beacon Seamless GPS Advertising Came
Slide 12: Business Model: Customer ARPC Increase More Than 130x
2. Competitive Advantages Business Model: Customer ARPC Increase More Than 130x Starting small, then upselling (store expansion) and cross-selling drive higher LTV Case Study: Growth Path of a Retail Chain with 250 Stores Expansion to app / SNS based one to one delivery JPY 20.0 M/month ARPC (monthl
Slide 13: Value and Market Potential of Consumer Behavior Big Data
2. Competitive Advantages Value and Market Potential of Consumer Behavior Big Data lDemand & production forecasting l Footfall & flow analysis lGPS-based farming l Congestion visualization lSmart agriculture l Digitalization of stores l Retail media & O2O l Consumer behavior big data serves a lOptim
Slide 14: Blogwatcher | Robust Strategic Assets
2. Competitive Advantages Blogwatcher | Robust Strategic Assets Acquisition secures unmatched advantage and revenue base in Retail DX and Smart City Customers & Markets Data & Products Organization & Talent Broad Customer Reach Across Tourism, High-Frequency Data, Productization & Sales Expansion Th
Slide 15: Agenda
1. About unerry 2. Competitive Advantages 3. Historical Performance 4. Mid-Term Growth Strategy 5. Human Capital Strategy Appendix ┗ What is unerry ┗ Business Model ┗ Financial Information ┗ Risk Information © unerry, Inc. 15
Slide 16: Five-Year Growth Track Record
3. Historical Performance Five-Year Growth Track Record l Net sales CAGR of +44% over five years, delivering sustained annual growth. l Operating income CAGR of +55% over four years since turning profitable, with margin improving from 2% to 9%. Net Sales Operating Income & Operating Margin JPY 9% JP
Slide 17: Net Sales: Recurring Customer Metrics
3. Historical Performance Net Sales: Recurring Customer Metrics *1 l Recurring customers reached 176, up 36 YoY—the largest annual increase to date. l Cross-sell and upsell drove NRR to 120%, while recurring revenue remained strong at 91% of net sales. # of Recurring Customers NRR*2 Recurring ARPC R
Slide 18: Net Sales: By Customer Acquisition Year
3. Historical Performance Net Sales: By Customer Acquisition Year l New customers convert to recurring customers each year, building the revenue base for future years. l Existing customers generated JPY 4,292 million, exceeding total net sales of JPY 3,726 million in FY2025. Mechanism of Conversion
Slide 19: Net Sales: By Service
3. Historical Performance Net Sales: By Service l All services achieved double-digit YoY growth, expanding multiple revenue streams. l Advertisement service led growth, expanding into manufacturer advertising and promotions. Analysis service also grew, led by data offerings. Annual Trend Breakdown J
Slide 20: Financial Highlights
3. Historical Performance Financial Highlights l Net sales reached a record JPY 4,879 million, up 31% YoY, maintaining strong growth at a larger scale. l Despite a lower gross margin, SG&A leverage drove operating income up 36% YoY, outpacing net sales growth. YoY Comparison （JPY million） FY2025/6 F
Slide 21: FY2027 Forecast
3. Historical Performance FY2027 Forecast l Consolidated net sales: ¥8,000 million; operating income: ¥556 million. unerry standalone: net sales +33% and operating income +53% YoY. l Blogwatcherʼs earnings and goodwill amortization will be reflected in consolidated results from Q2. （JPY million） FY2
Slide 22: FY2027 Earnings Structure
3. Historical Performance FY2027 Earnings Structure l unerry operating income: ¥650 mil. After Blogwatcher earnings and goodwill amortization (9 months), consolidated: ¥556 mil. l Adjusted EBITDA: ¥669 mil, reflecting continued growth in earnings power excluding goodwill amortization and other impac
Slide 23: Agenda
1. About unerry 2. Competitive Advantages 3. Historical Performance 4. Mid-Term Growth Strategy 5. Human Capital Strategy Appendix ┗ What is unerry ┗ Business Model ┗ Financial Information ┗ Risk Information © unerry, Inc. 23
Slide 24: Positioning for the Next Growth Stage
4. Mid-Term Growth Strategy Positioning for the Next Growth Stage PMI revealed value creation opportunities, prompting the merger review. 2026/5/1 2026/5-7 2026/8/13 2027/1 (Target) Joined the Group Joint PMI Merger Review Begins Target Merger Timing lBusiness & Customers Started by understanding bo
Slide 25: Three Key Initiatives
4. Mid-Term Growth Strategy Three Key Initiatives Driving near-term growth while focusing resources on three key themes for the next stage. Strengthening the Customer Base Merger Review with Blogwatcher AI & World Models （Covered in this section） （Covered in Key Topics） （Covered in Key Topics） Expan
Slide 26: Key Initiative 1: Strengthening the Customer Base
4. Mid-Term Growth Strategy Key Initiative 1: Strengthening the Customer Base Expand Customer Value & User Base toward an Infrastructure Company. Growing Customer Base Strengthening the Customer Base by Portfolio # of Recurring Customers 176 ① Expanding Customer Value 140 (Deeper Engagement, Upselli
Slide 27: Key Initiative 2: Merger Review with Blogwatcher
4. Mid-Term Growth Strategy Key Initiative 2: Merger Review with Blogwatcher Create value and improve efficiency by combining both companies’ strengths for growth. Customers & Markets Data & Products Organization & Talent unerry Blogwatcher unerry Blogwatcher unerry Blogwatcher Deep Customer Broad R
Slide 28: Key Initiative 3: unerry's New Business Model: World Model
4. Mid-Term Growth Strategy Key Initiative 3: unerry’s New Business Model: World Model Deepening client AI adoption expands World Model applications World Model OS Client Enterprises Establishing Ontology Data Integration & AI Development for Human-AI Data Synergy for Continuous Evolution Strategic
Slide 29: What Is the Value of unerry's Real-World Data in the AI Era?
4. Mid-Term Growth Strategy What Is the Value of unerry’s Real-World Data in the AI Era? Real-world AI outcomes require real-world data. Most Companies Open Data — No Differentiation Stop Here High-performance generative AI is equally accessible to all. Models are trained Open Data Proprietary Data
Slide 30: unerry's Real-World Data: Use Cases by Industry
4. Mid-Term Growth Strategy unerry’s Real-World Data: Use Cases by Industry Retail & Chain Stores CPG Brands Advertising & Retail Media AI Use Store Planning & AI Use Demand Forecasting & AI Use Delivery Optimization & Trade Area Analysis Distribution Optimization Impact Prediction Role of Real-Worl
Slide 31: Positioning of Mid-Term Growth Target
4. Mid-Term Growth Strategy Positioning of Mid-Term Growth Target l unerry continues to target ¥10 billion in standalone net sales for FY2028 as an ambitious mid-term goal. l The Group’s mid-term growth direction will be presented around FY2027 2H, reflecting the merger review. Net Sales Trend JPY m
Slide 32: Capital Allocation
4. Mid-Term Growth Strategy Capital Allocation Prioritize growth investment while maintaining strategic and capital flexibility. Capital Sources Cash and Deposits Operating Cash Flow Debt Financing Equity Financing Cash and deposits of ¥2.3 billion as Expected to expand in line with profit ¥750 mill
Slide 33: Electricity, Gas, Water – and unerry
4. Mid-Term Growth Strategy Toward Becoming Global Infrastructure as Essential as Electricity, Gas and Water Our Position Social Mobile Platformers Media Retail & E-Commerce Media Carriers Apps Foodservice Apps Services ● ● ● vertical silos vertical silos vertical silos vertical silos vertical silos
Slide 34: Agenda
1. About unerry 2. Competitive Advantages 3. Historical Performance 4. Mid-Term Growth Strategy 5. Human Capital Strategy Appendix ┗ What is unerry ┗ Business Model ┗ Financial Information ┗ Risk Information © unerry, Inc. 34
Slide 35: Human Capital Strategy Overview
5. Human Capital Strategy Human Capital Strategy Overview Build Group cohesion while exploring human capital strategy updates. ①Desired State ②Themes ③Actions ④Output ⑤Outcomes Mission Key Themes Human Capital Initiatives KPI Maximize Corporate Value Embed Mission, Vision & l Embed through off-site
Slide 36: A. Embed Mission, Vision & Values
5. Human Capital Strategy A. Embed Mission, Vision & Values Key KPI Analysis & Actions l Following Blogwatcher’s integration into the Group, eNPS declined from −30.7% to −39.0%. [Employee Survey] Key drivers of employee advocacy shifted from fulfillment in their roles to team relationships How likel
Slide 37: B. Continuously attract & grow future-ready talent
5. Human Capital Strategy B. Continuously attract & grow future-ready talent Data specialists remained at 63.2%, while data-skilled employees increased by around 2 pts YoY to 80.2% (target: 90%). We will continue to hire and develop data specialists while building data skills across other roles. Dat
Slide 38: C. Build diversity as a global company
5. Human Capital Strategy C. Build diversity as a global company Women represent 18.5% of CxOs and managers, while foreign nationals account for 7.5%, both broadly unchanged YoY. Build tailored career paths and an inclusive workplace to advance diversity as a global company. Gender Mix / Management
Slide 39: D. Foster teamwork that celebrates challenges
5. Human Capital Strategy D. Foster teamwork that celebrates challenges Celebrating challenges is a key part of unerry’s growth culture. Following Blogwatcher’s integration, we are redesigning teamwork initiatives and KPIs while continuing company-wide recognition and cross-team engagement. Before N
Slide 40: E. Drive productivity & competitive compensation
5. Human Capital Strategy E. Drive productivity & competitive compensation Productivity per employee increased 8.4% and average annual salary rose 4.5%, both meeting the target of continued YoY growth. Productivity per Employee Average Annual Salary Incl. bonuses & additional pay JPY thousand JPY th
Slide 41: Agenda
1. About unerry 2. Competitive Advantages 3. Historical Performance 4. Mid-Term Growth Strategy 5. Human Capital Strategy Appendix ┗ What is unerry ┗ Business Model ┗ Financial Information ┗ Risk Information © unerry, Inc. 41
Slide 42: Performance by Business Segment
Appendix_What is unerry Performance by Business Segment Net Sales (JPY) Business FY2026 Highlights YoY l Reorganized into three sales teams—new business, cross-sell, and partner sales—driving Retail & Food Service 3,284 million steady growth in recurring customers Retail DX ＋22% l Cross-divisional d
Slide 43: Retail DX: Topics
Retail DX Retail Media Appendix_What is unerry Retail DX: Topics Smart City Global l Recurring customer base continues to grow steadily while maintaining high ARPC. l Successfully cross-selling expanded services to key customers. Net Sales Trend Key Initiatives & Use Cases JPY mil. YoY ①Trade Area &
Slide 44: Retail Media: Topics
Retail DX Retail Media Appendix_What is unerry Retail Media: Topics Smart City Global l Expanded retail partnerships and delivery IDs strengthened our offering, driving solid growth in partner sales. l Expanded OOH and in-store media measurement, with strong growth expected to continue. Net Sales Tr
Slide 45: Smart City: Topics
Retail DX Retail Media Appendix_What is unerry Smart City: Topics Smart City Global l Building on our public-sector track record, use cases are expanding into the private sector. l Organizational enhancements in the prior year have strengthened the business foundation, supporting further growth. Net
Slide 46: Global: Topics
Retail DX Retail Media Appendix_What is unerry Global: Topics Smart City Global l Expanded partnerships in Japan and overseas, strengthening our global business foundation. l Expanding location data opportunities across both inbound and outbound markets. Net Sales Trend Service overview based on mar
Slide 47: Digital Space Real Space Digital Twin Platform
® A platform that transforms the real and digital actions of daily life into data through 1 billion+ Digital Twin IDs, supporting DX across industries and regions. Retail, Restaurant, Brands Behavior Data AI Service Digital Space Based on in-store visit data from all Store Visit kinds of locations,
Slide 48: Business Model: Recurring Revenue Model
Appendix_ Business Model Business Model: Recurring Revenue Model Annual recurring revenue for Analysis/One to One, with Advertisement scaling by store count (1) Analysis Cross- (2) Advertisement Cross- (3) One to One Solution Key Metrics Selling Selling (FY June 2026) l “Shopper Mieru” is a SaaS ser
Slide 49: Mid-to-Long-Term Profit Structure
Appendix_ Business Model Mid-to-Long-Term Profit Structure Targeting 15 - 25% operating margin by optimizing indirect COGS and SG&A ratios Profit structure trend ● Direct COGS ratio Expected to remain relatively stable despite changes in service mix. ● Indirect COGS ratio 51.9% 49.5% 49.7% 52.5% Alt
Slide 50: Privacy Protection
Appendix_ Business Model Privacy Protection Managing and securing privacy by using only consented data without identifying individuals Data Handling User Consent Third Party Certification • Location Data (ad IDs, latitude/longitude, • Data collected only from users who consent beacon responses, time
Slide 51: 90% of Economic Activity is through the Real World
Appendix_ Business Model Challenges We Are Solving Digital 9.8% 90% of Economic Activity is through the Real World Consumption * Much of the real world remains undigitized, Real making it unclear who is where 90.2% and what needs exist. Source: METI, E-commerce Market (2025.8) © unerry, Inc. 51
Slide 52: Japan has the greatest potential for significant transformation
3.8 5.8 2017 4.0 5.8 2018 3.5 5.9 2019 Appendix_ Business Model 3.2 6.6 2020 Source：IMD World Competitiveness Yearbook 2025 3.3 6.2 2021 3.2 6.6 2022 3.8 6.1 2023 4.2 6.2 2024 4.0 6.8 2025 Trends in major countries on a 10-point scale Italy China Korea United France Japan Canada Australia Kingdom Ge
Slide 53: TAM: Markets Across Industries Continue to Show Significant Growth Potential
Appendix_ Business Model TAM: Markets Across Industries Continue to Show Significant Growth Potential Retail DX Market Retail Media Market Smart City Market lGlobal expansion of industrial lPhase-out of third-party cookies lEnergy & transportation issues and business digitalization (DX) lConvergence
Slide 54: Income Statement (Quarterly Period)
Appendix _ Financial Information % Change % Change (Unit: Thousands of yen) 2025/6 Q4 2026/6 Q3 2026/6 Q4 YoY QoQ Income Statement (Quarterly Period) Net sales 981,443 1,527,067 1,188,132 +21.1% -22.2% Cost of sales 622,294 846,461 789,506 +26.9% -6.7% Gross profit 359,148 680,606 398,626 +11.0% -41
Slide 55: Income Statement (Cumulative Period)
Appendix _ Financial Information (Unit: Thousands of yen) 2025/6 2026/6 % Change Income Statement (Cumulative Period) Net sales 3,726,133 4,879,542 +31.0% Cost of sales 2,261,272 3,052,198 +35.0% Gross profit 1,464,860 1,827,344 +24.7% Gross profit ratio 39.3% 37.4% -1.9pt Selling, general and admin
Slide 56: Balance Sheet
Appendix _ Financial Information (Unit: Thousands of yen) 2024/6 2025/6 2026/6 Balance Sheet 2,072,858 2,391,539 3,283,977 Current assets └ Cash and deposits (Cash and deposits, securities) 1,658,798 1,831,518 2,301,594 └ Notes and accounts receivable - trade and 373,386 499,286 812,829 contract ass
Slide 57: Cash Flow
Appendix _ Financial Information Cash Flow (Unit: Thousands of yen) 2024/6 2025/6 2026/6 Cash flow from operating activities 180,321 229,667 327,743 Cash flow from investing activities -5,882 -59,560 -599,341 Cash flow from financing activities 357,098 2,583 741,519 Increase or decrease in cash and
Slide 58: Risk Information
Appendix_Risk Information Risk Information This section summarizes the principal risks disclosed under “Business Risks” in the Annual Securities Report. Please refer to the Annual Securities Report for details and other risks. Risk Category Risk Overview Likelihood Impact Group Response • Monitor re
Slide 59: Disclaimer
Disclaimer This document contains forward-looking statements. These statements are based only on information that is available at the time the statements are made. In addition, these statements do not constitute a guarantee of future results. They are subject to risk and uncertainty. Please note tha