Sansan, Inc. · TSE:4443
Sansan — Q1 FY2026 Earnings Presentation
51 slides from Sansan's earnings presentation, Oct 9, 2026
Slide 1: Presentation Materials for Q1 FY2026
Presentation Materials for Q1 FY2026 Sansan, Inc., October 9, 2026
Slide 2: Disclaimer
Disclaimer In preparing these materials, Sansan, Inc. (the “Company,” “we,” “us,” or “our”) relies upon and assumes the accuracy and completeness of all information available to us. However, the Company makes no representations or warranties of any kind, expresses or implies, about the completeness
Slide 3: Contents
Contents 1 Financial Results for Q1 FY2026 2 Full-Year Forecasts for FY2026 Appendix Sansan Group Overview, Sansan/Bill One Business, Eight Business, Initiatives for Sustainability © Sansan, Inc. 2
Slide 4: Financial Results for Q1 FY2026
Contents 1 Financial Results for Q1 FY2026 2 Full-Year Forecasts for FY2026 Appendix Sansan Group Overview, Sansan/Bill One Business, Eight Business, Initiatives for Sustainability © Sansan, Inc. 3
Slide 5: Highlights of Q1 FY2026 Results
1 Financial Results for Q1 FY2026 Highlights of Q1 FY2026 Results Sales grew steadily Net sales up 20.1% YoY. ARR (1) up 19.2% YoY to ¥52,193 million. Adjusted operating profit (2) increased substantially Adjusted operating profit up 328.3% YoY and adjusted operating profit margin up 12.1 pts. YoY.
Slide 6: Overview of Financial Results
1 Financial Results for Q1 FY2026 Overview of Financial Results Net sales up 20.1% YoY. Adjusted operating profit increased considerably, by 328.3% YoY, driven by solid sales growth and improvements in the SG&A ratio. FY2025 FY2026 (millions of yen) Q1 Results Q1 Results YoY Net sales 12,283 14,753
Slide 7: Contributors to Changes in Adjusted Operating Profit
1 Financial Results for Q1 FY2026 Contributors to Changes in Adjusted Operating Profit Ratio of personnel expenses to net sales down 4.0 pts., ratio of advertising expenses to net sales down 7.5 pts., and ratio of other SG&A expenses to net sales down 0.9 pts., all showing improvement. While making
Slide 8: Results by Segment
1 Financial Results for Q1 FY2026 Results by Segment Net sales for the Sansan/Bill One Business continued to grow steadily and adjusted operating profit rose substantially, driven largely by Bill One’s profitability. Net sales for the Eight Business grew strongly, while adjusted operating profit rem
Slide 9: Sansan/Bill One Business Overview
1 Financial Results for Q1 FY2026 Sansan/Bill One Business Overview Net sales up 18.4% YoY, owing to Bill One’s continued high growth. Adjusted operating profit rose considerably, by 306.3% YoY, driven by improved profit margins in Sansan and Bill One becoming profitable. FY2025 FY2026 (millions of
Slide 10: Sansan: Status of Key Indicators
1 Financial Results for Q1 FY2026 Sansan: Status of Key Indicators New contract acquisition among small- and medium-sized enterprises progressed. Recurring sales grew 12.1% YoY and number of subscriptions grew 13.7% YoY. Churn rate was 0.54%, maintaining a low level of less than 1%. Number of Sansan
Slide 11: Bill One: Status of Key Indicators
1 Financial Results for Q1 FY2026 Bill One: Status of Key Indicators ARR as of August 31, 2026, was ¥15,732 million, up 33.0% YoY, maintaining high growth. Number of paid subscriptions and monthly recurring sales per paid subscription grew steadily, and the churn rate remained at the same level as t
Slide 12: Eight Business Overview
1 Financial Results for Q1 FY2026 Eight Business Overview Net sales up 32.6% YoY, driven by strong growth in B2B services. Adjusted operating profit recorded a loss due to the strengthening of the organizational structure for growth, while we expect to be profitable for the full fiscal year. FY2025
Slide 13: Full-Year Forecasts for FY2026
Contents 1 Financial Results for Q1 FY2026 2 Full-Year Forecasts for FY2026 Appendix Sansan Group Overview, Sansan/Bill One Business, Eight Business, Initiatives for Sustainability © Sansan, Inc. 12
Slide 14: Medium-Term Financial Policy
2 Full-Year Forecasts for FY2026 Medium-Term Financial Policy The policy for the compound annual growth rate (CAGR) of net sales for the three years from FY2026 to FY2028 is 16% to 20%. The policy for the adjusted operating profit margin in FY2028 is 25% to 30%. Medium-Term Financial Policy (million
Slide 15: Full-Year Forecasts
2 Full-Year Forecasts for FY2026 Full-Year Forecasts Q1 results for both net sales and adjusted operating profit progressed steadily against the full-year forecast. The full-year forecasts remain unchanged from what was initially announced. FY2025 FY2026 (millions of yen) Full-Year Results YoY Full-
Slide 16: Appendix
Appendix © Sansan, Inc.
Slide 17: Sansan Group Overview
Sansan Group Overview © Sansan, Inc.
Slide 18: Mission and Vision
Sansan Group Overview Mission and Vision Mission Turning encounters into innovation Vision Become business infrastructure © Sansan, Inc. 17
Slide 19: History
Sansan Group Overview History (1) FY2019− FY2025 Expanding business fields Net sales FY2019 ¥53,761 mm Listed on Mothers Section of Tokyo Stock Exchange Began offering Bill One, the accounting AX solution FY2012−FY2018 FY2020 Changed listing market to First Section of Tokyo Stock Exchange Strengthen
Slide 20: Value Provided by Our Solutions
Sansan Group Overview Value Provided by Our Solutions Digitizing analog information generated from encounters among people and companies, and turning it into assets that are actionable in business Encounters×Analog to Digital Business Information Streamlining Daily Advanced Business 1 2 3 4 Issues A
Slide 21: Company Overview (1)
Sansan Group Overview Company Overview (1) Company name Sansan, Inc. Founded June 11, 2007 Head office Shibuya Sakura Stage 28F, 1-1 Sakuragaoka-cho, Shibuya-ku, Tokyo, Japan Other locations Branch offices: Osaka, Fukuoka, Aichi Satellite offices: Tokushima, Kyoto, Niigata Head Office Principal grou
Slide 22: About Employees
Sansan Group Overview About Employees Employees (Consolidated) Breakdown by Organization (1) (persons) 2,336 2,323 2,235 1,899 Others 1,399 Eight Business 2,323 employees Sansan/Bill One Business FY2022 FY2023 FY2024 FY2025 FY2026 End-Q4 End-Q4 End-Q4 End-Q4 End-Q1 (1) As of August 31, 2026 © Sansan
Slide 23: Unexpensed Granted Stock Options
Sansan Group Overview Unexpensed Granted Stock Options Exercise Period, Share Price Condition and Number of Shares Share price Number of Status of expensing Issued stock options Exercise period condition (1) shares (2) options July 14, 2025 - 85,100 Being expensed Stock options with share price cond
Slide 24: Overview of Reportable Segments
Sansan Group Overview Overview of Reportable Segments The Sansan Group comprises two reportable segments (1). Percentage of consolidated net sales (2) Main services Sansan 56% The sales AX solution The data quality management solution Sansan/ Bill One Business Bill One 28% The accounting AX solution
Slide 25: Market Environment as a Tailwind
Sansan Group Overview Market Environment as a Tailwind Rapid growth is expected for the AI/AI-related market. Global AX Market Size (1) Domestic AI Market Size (2) (billions of USD) (billions of yen) +$1,252.5 +¥4,520 billion billion 1,677.2 6,890 2,370 424.7 2025 2030 2025 2029 Result Forecast Resu
Slide 26: Percentage of Each Expense Category to Net Sales
Sansan Group Overview Percentage of Each Expense Category to Net Sales Percentage of Each Expense Category to Net Sales (1) (Cost of Sales/R＆D (2), S&M (3), G&A (4)) G&A G&AS&M S&M R&D R&D Cost 売上原価 of sales 120.0% 100.0% 12.3% 14.4% 14.9% 13.4% 80.0% 12.1% 19.5% 19.9% 18.0% 17.9% 15.5% 60.0% 40.0%
Slide 27: Policy for Management Conscious of Cost of Capital and Stock Price
Sansan Group Overview Policy for Realizing Management That Is Conscious of Cost of Capital and Stock Price Clarify our initiatives that contribute to the sustainable improvement of corporate value and our approach to building constructive relationships with capital markets. ・ Maximize net sales grow
Slide 28: Sansan/Bill One Business
Sansan/Bill One Business © Sansan, Inc.
Slide 29: Sansan: Solution Overview
Sansan/Bill One Business Sansan: Solution Overview Builds a company-wide database of information on people, companies, and activity. Leveraging Sansan drives sales growth through maximized business opportunities and cost reduction through improved productivity. The sales AX solution Sales growth by
Slide 30: Sansan: Sales Composition by Customer Size
Sansan/Bill One Business Sansan: Sales Composition by Customer Size (Recurring Sales) Achieving growth across all company size categories – from small to large Sansan Sales Composition by Customer Size (1) (Recurring Sales) Company size Composition at YoY change (number of employees) End-Q1 FY2026 (
Slide 31: Sansan: Net Revenue Retention
Sansan/Bill One Business Sansan: Net Revenue Retention We achieved a stable negative churn rate (1) thanks to the solid upselling for the existing customers. Sansan Sales Stack-Up: Accumulation of Net Sales by Service-in Timing (2) (Recurring Sales) FY2021 FY2022 FY2023 FY2024 FY2025 (1) Status wher
Slide 32: Sansan: Overwhelming Brand Recognition and Market Share
Sansan/Bill One Business Sansan: Overwhelming Brand Recognition and Market Share Gained high level of brand recognition among B2B services and established an overwhelming market share. Ranked No. 1 in the B2B business card management service market for 13 consecutive years. Sales share in 2024 (1) T
Slide 33: Sansan: Potential Market Size in Japan (TAM)
Sansan/Bill One Business Sansan: Potential Market Size in Japan (TAM) The number of users within current customers is limited, and there is room for many dozens of times more coverage expansion in Japan. Sansan Coverage Sansan Coverage Company Size (companies) (1) (employees) (1) (employees) (YoY pe
Slide 34: Sansan: Service Plans
Sansan/Bill One Business Sansan: Service Plans Providing three editions with different features, based on a fixed fee determined by company size (number of employees), etc. Cost by company size, number of employees (or number of contract IDs) Lite Standard Advanced Basic features (edition) Lite Stan
Slide 35: Bill One: Solution Overview
Sansan/Bill One Business Bill One: Solution Overview Enables the AI transformation (AX) of company-wide, voucher-based operations for invoices, expenses, and receivables management. Company-Wide Voucher-Based Operations Incoming invoices Receipts Outgoing invoices Bill One Bill One Bill One Invoice
Slide 36: Bill One: Sales Composition by Customer Size
Sansan/Bill One Business Bill One: Sales Composition by Customer Size (Recurring Sales) Achieving growth across all company size categories – from small to large. Sales Composition by Customer Size (1) Company size Composition at YoY change (number of employees) End-Q1 FY2026 (revenue) 1,000+ 100-99
Slide 37: Bill One: Net Revenue Retention
Sansan/Bill One Business Bill One: Net Revenue Retention We achieved a stable negative churn rate thanks to the solid upselling for the existing customers. Bill One Sales Stack-Up: Accumulation of Net Sales by Service-in Timing (1) (Recurring Sales) FY2021 FY2022 FY2023 FY2024 FY2025 (1) Created bas
Slide 38: Bill One: Overwhelming Brand Recognition and Market Share
Sansan/Bill One Business Bill One: Overwhelming Brand Recognition and Market Share Gained high level of brand recognition among B2B solutions and established an overwhelming market share. Achieved #1 sales share in the cloud-based invoice receiving service market for four consecutive years. Sales sh
Slide 39: Bill One: Potential Market Size in Japan (TAM)
Sansan/Bill One Business Bill One: Potential Market Size in Japan (TAM) There is a large potential market, even in Japan. Bill One Coverage Company Size (companies) (1) (employees) (YoY percentage point change) 1,000+ 9.0% （+3.3 pts.） Potential for 100–999 4.2% （+1.1 pts.） many dozens of times compa
Slide 40: Bill One: Expansion of Bill One Invoice Network
Sansan/Bill One Business Bill One: Expansion of Bill One Invoice Network Approx. 278,000 companies in the Bill One invoice network as the end of August 2026. As of August 2026, the total invoice amount in the invoice network was approximately ¥75 trillion on an annualized basis, calculated based on
Slide 41: Bill One: Service Plans
Sansan/Bill One Business Bill One: Service Plans Pricing models based on the number of digitization Costs based on the annual number of digitization Basic features Lite Standard Advanced (Invoice Receive/ Expense/ Lite Standard Accounts Receivable) Annual fees Digitization ＋ ＋ AI (1)/Automation Cust
Slide 42: Contract One: Solution Overview
Sansan/Bill One Business Contract One: Solution Overview The contract management AX solution that protects corporate profits by digitizing all types of contracts and visualizing transaction terms and changes over time. Company-wide management of contracts Centralizes company-wide contracts Systemati
Slide 43: Contract One: Service Plans
Sansan/Bill One Business Contract One: Service Plans Expand the provision of individual solutions using AI to solve legal compliance and industry-specific challenges. Accelerate upselling of existing contracts and acquisition of new contracts. Costs based on the annual number of digitization Lite St
Slide 44: Eight Business
Eight Business © Sansan, Inc.
Slide 45: Eight: Service Outline
Eight Business Eight: Service Outline Business card app widely used by professionals; enables Virtual Card Exchange and smart contract management. Business card app Eight is the business card app that maximizes the value of all your connections. Open the app, Take a photo and easily manage Updates o
Slide 46: Eight: Monetization Plans
Eight Business Eight: Monetization Plans Monetization through corporate solutions leveraging user network B2C Services B2B Services Business card management Business events Recruiting platform B2C B2B B2B B2B (2) Fixed monthly fee Fixed monthly fee Fixed fee per event (1) Fixed fee (3) (annual subsc
Slide 47: Initiatives for Sustainability
Initiatives for Sustainability © Sansan, Inc.
Slide 48: Material Issues (Priority Issues)
Initiatives for Sustainability Material Issues (Priority Issues) Identified key material issues (priority issues) relating to environment, society, and governance and set long-term quantitative targets. Working to resolve these issues through our core business, we aim to contribute to achieving the
Slide 49: Expansion and Upgrading of Sustainability Information
Initiatives for Sustainability Expansion and Upgrading of Sustainability Information ESG data expanded on sustainability page of our corporate website. Published Annual Report 2025, expanding sustainability information. - Sustainability page - Annual Report Japanese: https://jp.corp-sansan.com/susta
Slide 50: External Evaluations
Others External Evaluations Acquired various external evaluations regarding ESG Rating, Sustainability, and IR activities. Category External Evaluations Nikkei Inc. (1) MerComm, Inc. “International ARC Awards” (1) Annual Report NIKKEI Integrated Report Award 2025 Excellence PDF Version of Annual Rep
Slide 51: Sansan
Sansan