Slide 1: Financial Results Briefing Material
Financial Results Briefing Material Full-year Financial Results for the Fiscal Year Ended December 31, 2025 February 13, 2026 Livero Inc. (Securities Code: 9245)
Slide 2: Table of Contents
Table of Contents 1. Overview of FY25 02 2. Full-year Earnings Forecast for FY26 10 3. Business Descriptions 14 4. Appendix 21
Slide 3: 1. Overview of FY25
1. Overview of FY25 2. Full-year Earnings Forecast for FY26 3. Business Descriptions 4. Appendix Copyright © Livero Inc. All Rights Reserved. 2
Slide 4: Consolidated Results Highlights
Overview of FY25 Consolidated Results Highlights Recorded record highs for both net sales and profit, profit achieved the full-year plan target. Plan Plan Plan achievement Operating achievement achievement Net sales rate profit rate Profit rate 93％ 95％ 100％ 4.36 0.76 0.53 billion yen billion yen bil
Slide 5: Consolidated Results Topics
Overview of FY25 Consolidated Results Topics 2H net sales increased 30% YoY and operating profit grew by 300 million yen, further improving the profit structure. 2H Net sales 2H Operating profit 2H SG&A expenses 1.89 0.20 1.09 billion yen billion yen billion yen YoY YoY YoY + 30.0 % + 0.33 billion y
Slide 6: Trends in 2H Performance Over 5 Years
Overview of FY25 Trends in 2H Performance Over 5 Years The following profits are the first since listing. Net sales Operating profit SG&A expenses YoY 〇 Net sales +30％ • Measures implemented from 2Q onwards are 1.89 progressing as planned. (Billions of yen) • In both services for real estate agencie
Slide 7: Major KPIs
Overview of FY25 Major KPIs Leading indicators have increased steadily, with the number of end users for the next fiscal year building up smoothly. Number of subleased units Number of corporate clients Number of key support cases 54,459 4,016 5.15 units companies million cases YoY YoY YoY + 22.0 % +
Slide 8: Summary of Consolidated Results
Overview of FY25 Summary of Consolidated Results 4Q Cumulative FY25 FY24 FY25 FY24 Rate of change Rate of change (Millions of yen) results results results results Net sales 909 759 +19.8% 4,364 3,586 +21.7% Services for real estate agencies 491 391 +25.3% 2,160 1,717 +25.8% Services for corporate cl
Slide 9: Operating Profit
Overview of FY25 Operating Profit From 2Q onwards, operating profit increased significantly as planned, driven by revenue growth and cost reductions. (Millions of yen) 800 53 7 12 4 700 -6 -48 600 282 500 Decrease of last year’s one-off costs, such as 400 Temporary increase in call center relocation
Slide 10: Consolidated Balance Sheet and Consolidated Cash Flows
Overview of FY25 Consolidated Balance Sheet and Consolidated Cash Flows Non-current assets and non-current liabilities tend to grow due to the payment and reception of leasehold deposits related to our subleasing business, among other factors. (Millions of yen) Consolidated balance sheet Consolidate
Slide 11: 2. Full-year Earnings Forecast for FY26
1. Overview of FY25 2. Full-year Earnings Forecast for FY26 3. Business Descriptions 4. Appendix Copyright © Livero Inc. All Rights Reserved. 10
Slide 12: Full-Year Earnings Forecast for FY26
Earnings Forecast Full-Year Earnings Forecast for FY26 Net sales increased 22.6% YoY, operating profit grew 44.7% YoY. FY26 planned FY25 results YoY difference Rate of change Net sales 5,350 4,364 +985 +22.6% Operating profit 1,100 760 +339 +44.7% Ordinary profit 1,105 765 +339 +44.4% Profit 750 531
Slide 13: Net Sales Growth Plan by Service
Earnings Forecast Net Sales Growth Plan by Service Approximately 93% of the planned revenue increase consists of projects already contracted for 2025. ▼ 3-year net sales trends Newly created portion Approx. 0.05 billion yen 5.35 Newly Services for ・500 yen increase in unit price/user Strengthening c
Slide 14: 5-Year Performance Trends and Toward 2.0 Billion Yen in Operating Profit
Earnings Forecast 5-Year Performance Trends and Toward 2.0 Billion Yen in Operating Profit Profit-generating capacity is accelerating, growing steadily toward the 2.0 billion yen operating profit target. Net sales Operating profit CAGR Net sales：20.3％ (Millions of yen) 5.35 Operating profit：93.9％ *C
Slide 15: 3. Business Descriptions
1. Overview of FY25 2. Full-year Earnings Forecast for FY26 3. Business Descriptions 4. Appendix Copyright © Livero Inc. All Rights Reserved. 14
Slide 16: Business Overview
Business Descriptions Business Overview Securing “room hunting,” the most upstream point of a New Life. Every life event begins with room hunting. Livero acquires this upstream information through multifaceted services for both corporate clients and individuals. New job Marriage Choose Livero for ro
Slide 17: Business Overview: Corporate Clients Exceeded 4,000
Business Descriptions Business Overview The number of corporate clients exceeded 4,000, growth is accelerating through market expansion. ▼ Trends in the number of corporate clients for Shataku Rakutto NAVI ▼ Expanding market size through new services Steady growth Market expansion Foreign Worker Cor
Slide 18: Business Model
Business Descriptions Business Model A model combining both one-time revenue and recurring revenue. User Us User Individuals Request Request Real estate agencies Corporate housing Customer management referrals New Life-related ＋ service providers Corporate clients Relocation Real estate Utilities su
Slide 19: Our Strengths
Business Descriptions Our Strengths A virtuous cycle generated by mutual referrals starting from room hunting. 01 02 03 04 Acquiring end users Referring end users to Acquiring end users Revenue grows stably and from room hunting real estate agencies from real estate agencies at an accelerating pace
Slide 20: Services and Performance Trends
Business Descriptions Services and Performance Trends 16 consecutive periods of revenue growth. Foreign Worker Employment Support Service Handling volume Net sales Handling volume 29.6 billion yen Net sales 4.36 billion yen 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2
Slide 21: "New Life" Service Platform Provided by Livero
Business Descriptions “New Life” Service Platform Provided by Livero One of the industry’s largest networks covering all of Japan. Job relocation One of the New job Real estate agencies largest in the industry 753 No. 1 in the “New Life” Relocation support industry by companies number of service pla
Slide 22: 4. Appendix
1. Overview of FY25 2. Full-year Earnings Forecast for FY26 3. Business Descriptions 4. Appendix Copyright © Livero Inc. All Rights Reserved. 21
Slide 23: Breakdown of Subleased Units
Overview of FY25 Breakdown of Subleased Units Actual managed and potential units increased steadily, while the number of newly acquired units was lower than the previous year. Number of newly acquired units* Actual managed units Potential units 1,898 23,345 29,948 units units units YoY YoY YoY - 27.
Slide 24: 4Q Highlights by Service
Overview of FY25 4Q Highlights by Service YoY change Overview + 19.8 ％ While there was no significant increase due to the impact of some corporate service revenue being Net sales weighted toward 4Q in the previous year, all services grew steadily. YoY difference Achieved a significant improvement in
Slide 25: Trends in Quarterly Consolidated Net Sales (by Service)
Overview of FY25 Trends in Quarterly Consolidated Net Sales (by Service) Collaboration with a major client progressed as planned, leading to growth of +19.8% YoY. Quarterly trends over the past 3 years 4Q comparison (past 3 years) + 19.8 % (Millions of yen) Services for real estate agencies Services
Slide 26: Trends in Quarterly SG&A Expenses
Overview of FY25 Trends in Quarterly SG&A Expenses Decreased 16.2% YoY; training costs for the peak season from 3Q onwards decreased, and this trend is expected to continue from the next fiscal year onwards. Quarterly trends over the past 3 years 4Q comparison (past 3 years) Personnel expenses Syste
Slide 27: Quarterly Trends in Operating Profit and Margin
Overview of FY25 Quarterly Trends in Operating Profit/Operating Profit Margin and YoY Difference Operating profit increased significantly, posting our first profit since listing in the 4Q. (Millions of yen) Operating profit Operating profit margin 350 350 +70.0% ＋70.0％ YoY 250 250 ＋22.0pt +50.0% ＋50
Slide 28: Services for Real Estate Agencies KPIs
Major KPIs by Service Services for Real Estate Agencies Both the number of end users and the unit price increased steadily. Number of end users Unit price/user +42,720 people ＋157 yen 9,359 9,516 227,070 184,350 168,507 8,346 FY23 FY23 FY24 FY24 FY25 FY25 FY23 FY23 FY24 FY24 FY25 FY25 Copyright © Li
Slide 29: Services for Corporate Clients KPIs
Major KPIs by Service Services for Corporate Clients Both the number of end users and the unit price increased steadily. Number of end users Unit price/user + 2,408 people ＋ 3,871 yen 48,278 47,523 38,895 36,487 44 ,407 43,078 32,584 40 ,480 40,480 FY23 FY23 FY24 FY24 FY25 FY25 FY23 FY23 FY24 FY24 F
Slide 30: Services for Relocation Support Companies KPIs
Major KPIs by Service Services for Relocation Support Companies Both the number of relocation support companies and the number of services used increased steadily. Number of relocation support companies Number of services used + 4 companies + 167 services 154 158 659 492 143 410 FY23 FY23 FY24 FY24
Slide 31: Number of Subleased Units
Major KPIs by Service Services for Corporate Clients: Number of Subleased Units The number of subleased units increased 22.0% YoY. YoY +22.0% ■ Potential units for One-Coin Tenkin Shataku 54,459 units ■ Number of managed units for One-Coin Tenkin Shataku ■ Number of managed units for Hewayari (Units
Slide 32: Handling Volume (Services for Corporate Clients)
Major KPIs by Service Handling Volume (Services for Corporate Clients) Achieved a record high of 7.2 billion yen for 4Q, up 17.1% YoY. Quarterly trends over the past 3 years 4Q comparison (past 3 years) +17.1 % 7,258 Sublease services (monthly fees) (Millions of yen) 746 転貸サービス月額 Sublease services転貸
Slide 33: Client and Partner Bases
Business Descriptions Client and Partner Bases By partnering with a larger number of service providers, we offer optimal solutions to users and maximize customer satisfaction. Clients Total support count (provided) Partners (Request for services) (As of December 31, 2025) (Provision of services) Cum
Slide 34: Reference Materials
Earnings Forecast Reference Materials The number of end users for new contracts in 2025 is calculated based on interviews. Number of end Number of *Numerical values are rounded. Unit price Net sales users / company companies Approx. Approx. Approx. Approx. For real estate FY25 agencies 150 1,500 9,5
Slide 35: AI Utilization
Appendix AI Utilization Aim for highly efficient and high-quality system development by leveraging AI (primarily large language models - LLM). ▼ Conceptual diagram of AI utilization ■Build an AI-ready data platform We will further develop our flexible system assets, which have been a core strength i
Slide 36: Progress of Operational DX through AI Utilization
Appendix Progress of Operational DX through AI Utilization (Corporate Housing Management Service) Effectiveness proven in a single task; aiming for further productivity improvements through horizontal expansion. Proven Planned Reduction effect in a single task Horizontal expansion to similar tasks I
Slide 37: Two Major Projects for the Real Estate Industry
Appendix Two major projects to bring the entire industry together as a team, supported by Livero. Real estate industry Relocation support industry Copyright © Livero Inc. All Rights Reserved. 36
Slide 38: Services for Relocation Support Companies
Appendix Services for Relocation Support Companies A network of relocation support companies participating in HAKOPLA. 398 bases nationwide 2,191vehicles nationwide 7,741 vehicles nationwide (Only for dedicated relocation vehicles) Hokkaido and Tohoku Hokkaido and Tohoku Hokkaido and Tohoku regions
Slide 39: About Our Services
Appendix About Our Services Services for relocation support Services for real estate agencies Services for corporate clients companies One-Coin Tenkin Shataku Benefit Shataku Shinseikatsu Rakutto NAVI (Smooth Navigator One-Coin Tenkin Shataku (One-Coin Corporate Benefit Shataku (Corporate Housing fo
Slide 40: Trends in Quarterly Consolidated Financial Results
Appendix Trends in Quarterly Consolidated Financial Results (Millions of yen) FY23 FY24 FY25 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Net sales 830 838 604 627 1,111 1,019 696 759 1,246 1,224 983 909 Gross profit 705 717 532 504 908 828 549 566 955 873 674 632 SG&A Expenses 620 542 556 562 596 563 556 68
Slide 41: Financial Results Through FY24 and Seasonality
Appendix Financial Results Through FY24 and Seasonality 売上総利益 Gross profit 販管費 SG&A Expenses Financial Results and Seasonality (Millions of yen) We generate over 60% of our full-year revenue in 1Q and 2Q, which includes Japan’s peak relocation season of March and April. 3Q and 4Q are the off-season,
Slide 42: Financial Results and Seasonality
Appendix Financial Results and Seasonality Gross profit 売上総利益 About Seasonality (Millions (単位：百万円) of yen) We generate over 60% of our full-year revenue in the first half (1Q and 2Q), which includes Japan’s peak relocation season of March and April. 29% 27% 21% 23% The second half (3Q and 4Q) is the
Slide 43: Personnel Structure
Appendix Personnel Structure Trends in the number of employees by category (regular and temporary) Quarterly trends over the past 3 years 4Q comparison (past 3 years) (People) Corporateコーポレート Operation Customer オペレーション relations カスタマー セールスSales臨時雇用 Temporary employee 69 63 56 219 217 221 211 215 216
Slide 44: List of Our Service Offerings
Appendix List of Our Service Offerings Subleasing services and Ad services and service Main services and service providers service providers providers Service Sales Service Service Service Rent Fire Cardboard Web Room hunting Relocation Electricity Gas Internet classification category name requester
Slide 45: ESG Materiality
Appendix ESG Materiality We identify our materiality from an Environmental, Social, and Governance (ESG) perspective and, through our core business, work to realize a sustainable society. Building a pleasant and supportive work Contributing to local communities Promote women’s active engagement in e
Slide 46: Materiality Impact on stakeholders
Appendix Materiality Impact on stakeholders Ensuring Promoting transparent women’s active disclosure of engagement in information professional life Building a pleasant and Maintaining a Materiality map supportive Hiring and strong work developing governance environment next-generation structure huma
Slide 47: Shareholder Composition: Classification by Ownership
Appendix Shareholder Composition: Classification by Ownership Growth of +31.6% YoY. Trends in the number of shareholders FY25 shareholder breakdown over the past three years 31.6 % Individuals and others Securities companies Financial institutions YoY ＋ Other domestic corporations Foreign corporatio
Slide 48: Board of Directors and Auditors
Appendix Board of Directors and Auditors Hidetoshi Kashima, President Taketo Iwadare, Corporate Auditor An avid soccer player from a young age, he was a member of Yomiuri Verdi Junior Youth (now He joined Kobayashi Accounting Office in 1995, where he was engaged in accounting and taxation Tokyo Verd
Slide 49: Disclaimer
Appendix Disclaimer This document is prepared for the purpose of providing corporate information about the Company and does not constitute a solicitation or offer to buy or sell any shares or other securities issued by the company, in Japan or abroad. In preparing this document, we have relied on an
Slide 50: LELIVERO
LELIVERO