Ly Corporation · TSE:4689

Ly — Yahoo Japan — Investor Presentation (April 2012)

98 slides from Ly's investor presentation, Apr 24, 2012

1. Slide 1: Yahoo! JAPAN

   2012 4 24 YAHOO! JAPAN

2. Slide 2: Yahoo! JAPAN

   Yahoo! JAPAN YAHOO! JAPAN

3. Slide 3: 2,924 , 3,020 , 3.3% 1,596 1,650 3.4% 1,602 1,673 4.4% ,005 9.1% 3

   2,924 , 3,020 , 3.3% 1,596 1,650 3.4% 1,602 1,673 4.4% 921 1,005 9.1% 3

4. Slide 4: 3,500 , 3,020 3,000 2,500 2,000 1,500 1,000 , 0 0 2002 2003 2004

   3,500 , 3 020 3,020 3,000 2 500 2,500 2,000 1,500 1,000 , 500 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 4

5. Slide 5: 1,500 50% 1,200 40% 30% 20% 10% 2002 2003 2004 2005 2006 2007 2008

   1,500 50% 1,200 40% 900 30% 600 20% 300 10% 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 0% 5

6. Slide 6: 5.4% 3.4% 4.4% 13.3%

   757 799 5.4% 423 438 3.4% 427 446 4.4% 243 276 13.3% 6

7. Slide 7: ‘03/ ‘04/ ‘05/ ‘06/ ‘07/ ‘08/ ‘09/ ‘10/ ‘11/ ‘12/ 1-3 1-3 1-3 1-3

   800 799 600 400 200 0 ‘03/ ‘04/ ‘05/ ‘06/ ‘07/ ‘08/ ‘09/ ‘10/ ‘11/ ‘12/ 1-3 1-3 1-3 1-3 1-3 1-3 1-3 1-3 1-3 1-3 7

8. Slide 8: ‘11/1-3 ‘12/1-3 8

   799 800 757 301 600 300 400 199 226 200 257 270 0 ‘11/1-3 ‘12/1-3 8

9. Slide 9: 12% 10% 8% 6% 4% 2% 138 0 0% ‘11/1-3 ‘12/1-3 9

   500 454 12% 427 10% 400 8% 300 315 291 6% 200 4% 100 2% 135 138 0 0% ‘11/1-3 ‘12/1-3 9

10. Slide 10: +24 +16 +3 +3 +2 +2 +2 -6

    +24 +16 +3 3 +3 3 +2 +2 +2 -6 10

11. Slide 11: +5.4 +3.5 +2.7 +2.5 +1.8 1.8 +1.7 1.7 -2.4 -4.4 -5.4

    +5.4 +3.5 +2.7 +2.5 +1.8 1.8 +1.7 1.7 -2.4 -4.4 44 -5.4 11

12. Slide 12: 50% 40% 30% 20% 10% 0% ‘02/ ‘04/ ‘06/ ‘08/ ‘10/ ‘12/ 1-3 1-3

    500 50% 400 40% 300 30% 200 20% 100 10% 0 0% ‘02/ ‘04/ ‘06/ ‘08/ ‘10/ ‘12/ 1-3 1-3 1-3 1-3 1-3 1-3 12

13. Slide 13: - - - 6 244 - 258 13

    718 799 730 - 769 388 438 389 - 412 392 446 394 - 417 233 276 244 - 258 13

14. Slide 14: Yahoo! JAPAN

    Yahoo! JAPAN 14

15. Slide 15: 15

    15

16. Slide 16: Yahoo! JAPAN

    Yahoo! JAPAN 16

17. Slide 17: 17

    17

18. Slide 18: YAH

    YAH ool JAPAN

19. Slide 19: pz elt es wees oruoal

    pz elt es wees oruoal YAHOO! | 20% [_ © O52 OC BREO“-YoH ROPE 2 FREOS EROWE amRE orks) banat Tailter LOEB O-+—F—HyAYahoo! JAPAN PY S<—VICABEMAS - 25 IIS - 20128039 198 DSi HU - FRR EBA RR OE RB RADE Copyright (C) 2012 Yahoo Jepan Corporation. All Righis Reseed YRHOO! sy 99 Bienen wuuew ane JAPAN zl

20. Slide 20: PC No.1

    PC No.1 84% Yahoo! JAPAN 84% 20

21. Slide 21: PC No.1

    PC No.1 i YAHOO!

22. Slide 22: No.1 Web search

    No 1 No.1 30,000 Yahoo! Google MSN infoseek goo Web Web Report PC 2012 1 22

23. Slide 23: No.1 News

    No 1 No.1 25,000 Yahoo! yomiuri.co.jp mainichi.jp asahi.com Web Report PC 2012 1 23

24. Slide 24: No.1

    No 1 No.1 15,000 Yahoo! Web Report PC 2012 1 24

25. Slide 25: No.1 Mail

    No 1 No.1 15,000 Yahoo! mail.google.com mail.live.com mail.goo.ne.jp Web Report PC 2012 1 25

26. Slide 26: No.1 Q&A

    No 1 No.1 20,000 Yahoo! oshiete.goo.ne.jp okwave.jp Hatena Web Report PC 2012 1 26

27. Slide 27: YAH

    YAH ool JAPAN

28. Slide 28: PC

    28 PC 107 YAHOO! JAPAN |

29. Slide 29: YAHOO!

    YAHOO! JAPAN

30. Slide 30: 30

    30

31. Slide 31: 31

    31

32. Slide 32: Yahoo! JAPAN

    Yahoo! JAPAN i YAHOO!

33. Slide 33: Yahoo! JAPAN

    Yahoo! JAPAN PC 1.0 -1.5 16.3 16.3 Total: +1 +1.4 4 33

34. Slide 34: YAHOO!

    PV YAHOO! JAPAN

35. Slide 35: Yahoo! JAPAN

    Yahoo! JAPAN YAHOO!

36. Slide 36: YAH

    36 YAH ool JAPAN

37. Slide 37: YAH

    37 YAH ool JAPAN

38. Slide 38: YAH

    38 YAH ool JAPAN

39. Slide 39: YAH

    39 YAH ool JAPAN

40. Slide 40: YAH

    40 YAH ool JAPAN

41. Slide 41: iPhone Android

    iPhone Android 41

42. Slide 42: Yahoo! JAPAN smartphone contents

    78% Yahoo! JAPAN SmartPhoneContents Report 2012 2 78 8 Y h ! Yahoo! Y h ! Yahoo! Y h ! Yahoo! R25 sportsnavi.com R2 i Y h ! Yahoo! Y h ! Yahoo! Y h ! Yahoo! Yahoo! Yahoo! Yahoo! Yahoo! Yahoo! GyaO! Yahoo! Yahoo! Yahoo! BEAUTY Yahoo! Yahoo! Yahoo! Yahoo! Yahoo! Yahoo! Yahoo! Yahoo! Yahoo! 25 1 42

43. Slide 43: 2010/1Q 2Q 3Q 4Q 2011/1Q 2Q 3Q 4Q

    2010/1Q 2Q 3Q 4Q 2011/1Q 2Q 3Q 4Q 43

44. Slide 44: 2010/1Q 2Q 3Q 4Q 2011/1Q 2Q 3Q 4Q

    2010/1Q 2Q 3Q 4Q 2011/1Q 2Q 3Q 4Q 44

45. Slide 45: PC No.1 No.1

    PC No.1 No.1 y YAHOO!

46. Slide 46: CMO Chief Mobile Officer

    CMO Chief Mobile Officer CMO 46

47. Slide 47: SoftBank

    SoftBank YAHoo! JAPAN YAHOO!

48. Slide 48: YAH

    YAH ool JAPAN

49. Slide 49: DUB

    49 DUB YAH ool JAPAN

50. Slide 50: DUB

    DUB D il Unique Daily U i B Browser * * 50

51. Slide 51: DUB

    DUB 51

52. Slide 52: DUB MUB

    DUB MUB * MUB DUB DUB 2 10 MUB 10 10 * 52

53. Slide 53: Yahoo! JAPAN DUB

    Yahoo! JAPAN DUB Yahoo! JAPAN Yahoo! JAPAN DUB 53

54. Slide 54: DUB

    54 DUB 2010 4 2012 2 DUB YaHoo! JAPAN

55. Slide 55: YAH

    YAH ool JAPAN

56. Slide 56: 56

    56

57. Slide 57: 57

    57 JAPAN

58. Slide 58: YAH

    58 YAH ool JAPAN

59. Slide 59: YAHOO!

    YAHOO! JAPAN

60. Slide 60: 60

    60

61. Slide 61: YAH

    YAH ool JAPAN

62. Slide 62: Focus × Fast × Fun

    Focus X Fast X Fun | YAHOO!

63. Slide 63: 63

    63

64. Slide 64: START

    START 64

65. Slide 65: YAHOO!

    YAHOO! JAPAN

66. Slide 66: YAH

    66 YAH ool JAPAN

67. Slide 67: YAH

    67 YAH ool JAPAN

68. Slide 68: 68

    68

69. Slide 69: YAH

    YAH ool JAPAN

70. Slide 70: No.1

    YAHOO! JAPAN

71. Slide 71: Yahoo! JAPAN

    Yahoo! JAPAN | YAHOO!

72. Slide 72: YAH

    YAH ool JAPAN

73. Slide 73: YAH

    YAH ool JAPAN |

74. Slide 74: YAH

    YAH ool JAPAN

75. Slide 75: YAH

    YAH ool JAPAN

76. Slide 76: JAPAN

    JAPAN

77. Slide 77: YAHOO!

    JA 77 YAHOO! JAPAN

78. Slide 78: YAHOO!

    YAHOO! JAPAN

79. Slide 79: YAH

    79 % YAH ool JAPAN

80. Slide 80: YAH

    YAH ool JAPAN |

81. Slide 81: YAH

    YAH ool JAPAN

82. Slide 82: 82

    82 JAPAN

83. Slide 83: YAHOO!

    83 KL SA YAHOO! JAPAN

84. Slide 84: YAHOO!

    YAHOO! JAPAN

85. Slide 85: YAH

    YAH ool JAPAN |

86. Slide 86: YAH

    YAH ool JAPAN |

87. Slide 87: YAH

    YAH ool JAPAN |

88. Slide 88: YAH

    YAH ool JAPAN

89. Slide 89: YaH

    YaH oo! JAPAN

90. Slide 90: YAH

    YAH ool JAPAN

91. Slide 91: YAH

    YAH ool JAPAN |

92. Slide 92: 92

    92

93. Slide 93: J \ 3O 2Q

    J \ 3O 2Q

94. Slide 94: 94

    94

95. Slide 95: YAHOO!

    YAHOO! JAPAN

96. Slide 96: 5,000 4,000 3,000 2,000 1,000

    5,000 4,000 3,000 2,000 1,000 0 96

97. Slide 97: YAH

    YAH ool JAPAN

98. Slide 98: 28

    28

Yahoo Japan — Investor Presentation (April 2012) on 6ix