Slide 1: FY3/2025 Q3 Results
FY3/2025 Q3 RESULTS Bengo4.com, Inc. Feb. 12, 2025
Slide 2: Contents
Contents Revision of FY3/2025 Forecast 01 and Q3 Results P. 3−9 02 Business Overview P. 10−34 03 Appendix P. 35−73 1
Slide 3: Vision and Mission
VISION・MISSION VISION Drive a paradigm shift for the better world. Be the Professional-Tech Company. MISSION Do what only professionals can do. Contribute to society using expert knowledge and technologies. 2
Slide 4: Revision of FY3/2025 Forecast and Q3 Results
Revision of FY3/2025 Forecast and Q3 Results 3
Slide 5: Revision of Forecast
Revision of Forecast Revised net sales and operating profit due to less rapid growth in sales of advertising and others. CloudSign's fixed sales achieved the budget for the month of December and are expected to achieve it in Q4 as well, and the company has shifted to a growth trajectory that exceeds
Slide 6: Topics for FY3/2025 Q3
Topics for FY3/2025 Q3 Net sales increased 28.1% YoY. Operating profit rose 3.3% YoY. Net Sales 10,278 Mil. JPY + 28.1 % YoY EBITDA 1,347 Mil. JPY + 3.3 % YoY Operating Profit 759 Mil. JPY - 14.4 % YoY Ordinary Profit 772 Mil. JPY - 16.8 % YoY Net Profit 467 Mil. JPY - 18.2 % YoY * EBITDA = Operatin
Slide 7: Quarterly trend of Net Sales
Quarterly trend of Net Sales In Q3, net sales, particularly CloudSign sales, rose. Strong sales growth is expected to continue in Q4. （Mil.Yen） 3,586 3,600 Business Lawyers Library and 3,394 282 advertising sales were strong. Business Lawyers and others 3,302 3,297 218 187 Zeirishi.com 3,075 207 356
Slide 8: Quarterly trend in ARR
Quarterly trend in ARR Company-wide ARR was 11.85 billion yen, up 18.3% YoY. l The unified pricing model for CloudSign contributed to an ARR increase YoY ARR of over 300 million yen. l CloudSign ARR increased significantly, up 30% YoY. 18.3% 11.85 Bengoshi.com and others 4.3% Bil. JPY CloudSign 29.4
Slide 9: Quarterly trend of SGA
Quarterly trend of SGA In Q3, advertise expenses increased due to a concentration of trade shows and events. In Q4, personnel and outsourcing expenses will be scrutinized for cost-effectiveness, leading to a projected QoQ decline. We will continue to evaluate cost-effectiveness while making necessar
Slide 10: Quarterly trend in Operating Profits
Quarterly trend in Operating Profits Q4 operating profit is projected at 550 million yen with a 15% profit ratio, marking a record high. While continuing strategic investments, the company is building a leaner, more profitable structure. 35.0% 470 million yen allocated for multi- （Mil.Yen） 550 produ
Slide 11: Business Overview
Business Overview 10
Slide 12: CloudSign
CLOUDSIGN 11
Slide 13: CloudSign: Trend in Net Sales
Trend in Net Sales Record number of new paying companies and new MRR expected this year, with business growing on the back of continued strong demand. Fixed sales achieved the December budget, thanks in part to the effect of the December pricing adjustment, the company has shifted to a growth Sales
Slide 14: Trend in the number of contracts
Trend in the number of contracts （The number of contracts sent bearing an electronic signature and a timestamp） The number of contracts sent increased steadily, surpassing 2.53 million in the quarter. Trend in the Number of Contracts by Quarter Network effects of electronic contract service 1,000 co
Slide 15: CloudSign introduction in different industries
CloudSign introduction in different industries The introduction of CloudSign continued to accelerate, especially among large companies and local governments. Banks, securities, insurance and other financials IT services, information, telecommunications, human resources and media Construction / Real
Slide 16: Status of Introduction by Local Governments
Status of Introduction by Local Governments Of 378 local governments that have introduced electronic contracts, 253 local governments (approx. 70%)* have introduced CloudSign. Holding seminars for businesses engaging with local and metropolitan governments. Aiming to expand the number of adopting mu
Slide 17: Launch of CloudSign Kanri
Launch of CloudSign Kanri Introduced as the third product after "CloudSign" and "CloudSign Review,”the contract management service "CloudSign Kanri" began on 12 February. "CloudSign Kanri" enables centralized management by simply storing contract PDFs. Generates a contract Upload a contract （PDF） AI
Slide 18: Business Partnership with Hubble, Inc.
Business Partnership with Hubble, Inc. Partnered with Hubble, Inc. to offer "CloudSign Kanri" as an OEM product. With all CloudSign users as potential upsell targets, early-stage ARR is expected to reach 100 million yen. Overview of "CloudSign Kanri" Product name CloudSign Kanri Service Centralized
Slide 19: Expanding TAM in the Contract Market
Expanding TAM in the Contract Market Aiming to increase the value provided to customers and ARPPU through multi-productization centered on CloudSign. Product synergies have accelerated customer acquisition. Contract management Conclusion of 300 billion yen a contract 500 billion yen 1 trillion yen C
Slide 20: Provision of Contract Lifecycle Management Services
Provision of Contract Lifecycle Management Services Enhanced contract operations (contract lifecycle management), including contract review, conclusion of contract, and contract management. Planning to expand into broader transaction operations, with a focus on enhanced integration with document cre
Slide 21: Bengoshi.com
BENGOSHI.COM Bengoshi means lawyer 20
Slide 22: Trend in the number of visitors
Trend in the number of visitors In terms of the number of monthly site visitors, despite the volatility of Bengoshi.com news, access to the lawyer search page is improving, and the number of paying registered lawyers for customer attraction services is in an increasing trend. Trend in the number of
Slide 23: Bengoshi.com: Trend in Net Sales
Trend in Net Sales Customer attraction support services are recovering, and cross-selling of libraries and Hanreihisho has started in business support services. Customer attraction and business support services, our most important services, have been on an increasing trend since the previous fiscal
Slide 24: Trend in the Number of Registered Lawyers
Trend in the Number of Registered Lawyers The number of registered lawyers reached 28,288,accounting for a 62% share of lawyers in Japan. ARPPU is on an upward trend by promoting cross-selling of the Hanreihisho and Bengoshi.com LIBRARY, and is expected to drive growth in the future. Trends in Numbe
Slide 25: Promotion of Sales Collaboration in Products for Lawyers
Promotion of Sales Collaboration in Products for Lawyers In the domain of services for lawyers, promoted group collaboration with Bengoshi.com, Hanreihisho, and BengoKakumei. Collaboration between Hanreihisho and Bengoshi.com LIBRARY feels positive, and cross-selling is progressing well. 4,300 lawye
Slide 26: Legal Brain Development Strategy
Legal Brain Development Strategy Database Lawyer of legal database precedents Judge Secret database Leagal Legal DB Public consultation Prosecutor Q&A database Legal profession Contract book database database Strengthen development M&A also utilized capabilities by hiring engineers, to acquire legal
Slide 27: What we hope to accomplish through Legal Brain
What we hope to accomplish through Legal Brain Focus Practical services area for lawyers LAWYER Focus Professional services area for companies ENTERPRISE LEGAL BRAIN Free consultation available to anyone, GENERAL 24 hours a day, 7 days a week Empowering Japanese society through legal services as "Ja
Slide 28: Legal Brain-equipped products progressing smoothly for PMF
Legal Brain-equipped products progressing smoothly for PMF We have introduced products to the legal departments of major financial institutions, large corporations, and law firms handling mainly corporate legal affairs. Through repeated feedback, Legal Brain has achieved highly accurate identificati
Slide 29: Future Policy on LaaS (Legal as a Service)
Future Policy on LaaS（Legal as a Service） We will strengthen collaboration over the sales and marketing function in the BtoB domain. We will use each user assets and data asset to increase the speed of growth. Compliance Checks In-House Legal Document creation Consultation FAQs All our paying compan
Slide 30: Zeirishi.com
ZEIRISHI.COM Zeirishi means tax accountant 29
Slide 31: Zeirishi.com
Zeirishi.com Japan’s largest tax consultation portal site which has 708k visitors/month. 1. Tax Accountant introduction service Provide introduction service by experienced tax coordinators. They choose the best one for client from among 6,943 registered tax accountants. 2. Tax consultation service P
Slide 32: Zeirishi.com: Trend in net sales
Trend in net sales Aggressive marketing investments, such as web advertising, are increasing our positioning in the industry by the day. Sales grew significantly, increasing 21.5% YoY. YoY Trend in net sales 21.5% Mil.Yen 356 322 329 312 300 293 253 233 224 210 174 182 173 153 154 138 137 126 135 15
Slide 33: Business Lawyers
BUSINESS LAWYERS 32
Slide 34: Business Lawyers
Business Lawyers Japan’s largest Corporate legal portal site which has 424k visitors/month. 1. Registered lawyers The lawyer who works in Nishimura & Asahi, Mori Hamada & Matsumoto, Nagashima Ohno & Tsunematsu, Anderson Mori & Tomotsune, TMI etc. 2. “Business Lawyers Library” Browse practical books
Slide 35: Business Lawyers Library also grows steadily
Business Lawyers Library also grows steadily The number of Business Lawyers users steadily increases. The number of companies using "Business Lawyers Library”, a service that provides access to legal books and magazines, currently exceeds 1,900. Trend in the users （monthly) Number of companies that
Slide 36: Appendix
APPE NDIX © Bengo4.com, Inc. 2025 35 APPENDIX
Slide 37: Summary for FY3/2025 Q3
Summary for FY3/2025 Q3 Net sales increased 16.6% YoY. (Mil. Yen) FY3/2025 Q3 FY3/2024 Q3 FY3/2025 Q2 YoY QoQ Actual Actual Actual Net Sales 3,586 3,075 +16.6% 3,394 +5.7% CoGS 849 688 +23.4% 816 +3.9% Gross Profit 2,737 2,387 +14.7% 2,577 +6.2% SGA 2,523 2,050 +23.1% 2,313 +9.1% EBITDA 427 511 -16.
Slide 38: Balance sheet
Balance sheet Net assets increased 141 million yen due to higher retained earnings. (Mil. Yen) FY3/2025 Q3 FY3/2025 Q2 QoQ Current Assets 5,857 5,761 +95 Cash and equivalents 3,557 3,492 +65 Fixed Assets 4,675 4,675 - Total Assets 10,532 10,437 +95 Current Liabilities 2,926 2,870 +56 Fixed Liabiliti
Slide 39: Corporate Profile
Corporate Profile Name Bengo4.com, Inc. Place 4-1-4 Roppongi, Minato-ku, Tokyo Date of 4th Jul., 2005 establishment Representative Taichiro Motoe Director Consolidated: 591, Employees Non-consolidated: 563 (As of Dec 31, 2024) Group LIC CO., Ltd and EOC.com Co., Ltd. companies 38
Slide 40: Vision and Mission
VISION・MISSION VISION Drive a paradigm shift for the better world. Be the Professional-Tech Company. MISSION Do what only professionals can do. Contribute to society using professional knowledge and technologies. 39
Slide 41: Board Members
Board Members Representative Director, President and CEO Outside Director Taichiro Motoe Fumihiko Ishimaru Joined Anderson Mori & Tomotsune Foreign Law Joint Enterprise Representative Director of Accord Ventures, Inc. and subsequently founded Authense Law Office. Former executive officer of Digital
Slide 42: Corporate History
Corporate History AI business Bengo Kakumei Inc., a Provider of Digital Case 2024 Recordkeeping Tools for Lawyers, Joined the Group Announced Legal Brain Initiative Released Bengoshi.com AI chat legal consultation Released CloudSign Review 2023 Released Bengoshi.com LIBRARY AI Assistant LIC CO., Ltd
Slide 43: Bengoshi.com
BENGOSHI.COM Bengoshi means lawyer 42
Slide 44: Social background of legal consulting services in Japan
Social background of legal consulting services in Japan 14.87 Million people had troubles / disputes over legal matters in a year. Only 28.1% of these people sought Lawyer’s advices. Reasons why they hesitated to ask professional’s help were: Concerns over professional fees 36.3%; / It’s a too minor
Slide 45: Background of lawyer's business in Japan
Background of lawyer’s business in Japan Environments of lawyer’s business has been changing rapidly since the judicial system reform in 2000, such as lifting of ban on advertisements, liberalization of fees, and new bar examination, which was meant to increase number of lawyers in Japan. Number of
Slide 46: Market Environment of the Legal Services Industry in Japan
Market Environment of the Legal Services Industry in Japan The legal services industry has been growing since 2000 due to progress in the development of new customers, as marketing needs for lawyers grow together with the increase in the actual number of lawyers. Legal services market size 25.6 mill
Slide 47: Value proposition of Bengoshi.com
Value proposition of Bengoshi.com A web-based platform for consumers and lawyers, to realize “familiar legal service”. Provides information and services about free legal consulting and detailed information about lawyers for consumers. Consumers Lawyers Hesitate to seek Want to reach out to Support f
Slide 48: Why Bengoshi.com?
Why Bengoshi.com? The largest free legal consultation portal in Japan which has 7.70M visitors/month.* 1. Because the lawyer offers user legal advice for free on the internet service • The outstanding database which has over 1,408k records of consulting cases* 2. Because it has a substantial databas
Slide 49: Services of Bengoshi.com provides
Services of Bengoshi.com provides Provides each kind of contents according to seriousness of issues users have. Targets Contents provided Benefit for users Consumers who have urgent Users can search for the most appropriate “List of lawyers” matters and are willing to seek lawyer for free thanks to
Slide 50: Overview of marketing support service for lawyers
Overview of “marketing support service for lawyers” A marketing support service for lawyers, which helps them acquire clients • The number of visitors to the site has exceeded 10 million. • Acquiring potential clients efficiently based on the focus area of each lawyer Price 20,000 yen or more per mo
Slide 51: Overview of research support service for lawyers
Overview of “research support service for lawyers” Making lawyer book research more comfortable. • Monthly subscription service for law books • "Book browsing" "research service" functions can be used while working from home Price 9,000yen per month Number of books Over 2,800 books Participating pub
Slide 52: Overview of Services for Lawyers (Research Support)
Overview of Services for Lawyers (Research Support) Precedents database with by far the largest share in the industry • The usage rate of the precedents search service by lawyers is 95%. • Hanreihisho in particular is used by all judges and prosecutors, and is the dominant service among the three el
Slide 53: Overview of Services for Lawyers (Business Support)
Overview of Services for Lawyers (Business Support) Digital document organization tool developed by lawyers for lawyers • It supports transition of lawyers’ practice style to one that makes efficient use of digitalized documents. • It harnesses the power of digital technologies to make lawyers stron
Slide 54: Growth Cycle of Bengoshi.com
Growth Cycle of — Bengoshi.com Increased DB draws more visitors, which stimulates new registration of lawyers who seek to reach out expanded number of users. Lawyer’s action Databases grow Advice for consumers Counselling Register to the website Lawyer list Lawyers Consumers Consumer’s action Visit
Slide 55: CloudSign
CLOUDSIGN 54
Slide 56: Overview of CloudSign
Overview of CloudSign Cloud-based e-contracting service from contract conclusion to contract management. Upload a completed contract that has been negotiated and approved by the other party, and the contract is concluded. The recipient of the document does not need to be registered with CloudSign. U
Slide 57: Usage Image
Usage Image Sender Upload PDF documents Enter Destination Document preparation Send Receiver Sender Receiver Receive by mail Contract confirmation Final step after conclusion of agreement and agreement The signed documents will be automatically e-mailed to the sender and receiver. (It is automatical
Slide 58: Documents used for CloudSign (examples)
Documents used for CloudSign (examples) Human Resources Sales Leases Employment contract Sales Contract Building Lease Agreement Working conditions notice Land purchase agreement Land Lease Agreement Offer of employment Building Sales Contract Parking Lot Rental Agreement Employment agreement Real e
Slide 59: Benefits of CloudSign
Benefits of CloudSign Speed up process Reduce cost Strengthening of compliance With CloudSign, contract signing Shipping cost, paper cost,printer No more losing/missing paper or process will be shorten by 1-2 ink cost, and stamp tax will no altering of contract. weeks, which boosts up upside of long
Slide 60: Price of CloudSign
Price of CloudSign Free Light Corporate Enterprise Fixed fee 0 JPY/Month Fixed fee 10,000 JPY/Month Fixed fee 28,000 JPY/Month Fixed fee To be inquired Pay- per-use 0 JPY/Month Pay- per-use 200 JPY/Sending Pay- per-use 200 JPY/Sending Pay- per-use 200 JPY/Sending Plan contents Plan contents Plan con
Slide 61: Why CloudSign?
Why CloudSign? 1. Cloud contracting service offered by Bengoshi.com • Our Company, which has a deep understanding and knowledge of Japanese law, provides legally reliable products under the supervision of a lawyer. 2. Product development in line with Japanese business practices • In order to expand
Slide 62: CloudSign services
CloudSign services Conclusion of Automatic a contract conversion to data CloudSign Kanri CloudSign scan It facilitates contract management operations with AI, It handles the process from scanning contract which automatically identifies the counterparty to documents to storing documents and the contr
Slide 63: Business Lawyers
BUSINESS LAWYERS 62
Slide 64: Business Lawyers Library fee structure
Business Lawyers Library fee structure Business Lawyers Library, an all-you-can-read book service for corporate legal affairs. Light plan Standard plan Enterprise plan The plan enables an individual to conduct A standard plan that includes education he plan includes compliance training minimum resea
Slide 65: Status of introduction of Business Lawyers Library
Status of introduction of “ BUSINESS LAWYERS LIBRARY ” From the website of "BUSINESS LAWYERS LIBRARY” The service is used by mainly leading law offices and large companies. https://www.businesslawyers.jp/lib/about 64
Slide 66: Advertisement on the websites
Advertisement on the websites Advertising sales on the "Bengoshi.com" and "Zeirishi.com" websites, as well as advertising sales associated with the Business Lawyers conference. Website Conference Advetisements 65
Slide 67: Sustainability
SUS —FAINA © Bengo4.com, Inc. 2025 66
Slide 68: Basic Policy on Sustainability
Basic Policy on Sustainability Going forward, we will work together with all stakeholders Three Viewpoints to drive the creation of a sustainable society, by facing the resolution of social issues from three perspectives, and empowering society. 01 For General 02 For Professional 03 For Enterprise G
Slide 69: Material Issue Map
Material Issue Map Importance to society Access to and use of expert knowledge Response to Information security climate change and protection of privacy Advancing DX services and improving productivity Strengthening corporate Diversity and governance inclusion Training and Corporate ethics creation
Slide 70: MSCI ESG Ratings
MSCI ESG Ratings Bengo4.com receives “BBB” rating from MSCI ESG Ratings Recognized for strong initiatives in "Information security and protection of privacy," a key material issue. The MSCI ESG Ratings,* issued by Morgan Stanley Capital International Inc. (MSCI), evaluate companies worldwide based o
Slide 71: Risk Information
© Bengo4.com, Inc. 2025 70
Slide 72: Risk Information 1
Risk Information1_ Risks identified that could have a significant impact on future growth Degree of Item Major Risks Possibility/Timing Influence Countermeasure Although our business areas are Media business and IT/Solutions business, Low/ Responding to changes in the Business Environment if the Int
Slide 73: Risk Information 2
Risk Information 2_ Risks identified as having the potential to materially impact future growth Degree of Item Major Risks Possibility/Timing Influence Countermeasure We will use a variety of recruiting As we expand our business in the future, we will need to continually recruit and train Low/ metho
Slide 74: Warning
WARNING This document is meant for explaining the company’s business itself and doesn’t mean any inducement or persuasion for buying stocks or/and bonds of the company. This document include descriptions about prospects for future which are based on information available as of today, and actual situ