Gmo Internet Group, Inc. · TSE:9449
Gmo Internet — Q3 2025 Earnings Presentation
124 slides from Gmo Internet's earnings presentation, Nov 13, 2025
Slide 1: Fiscal Year 2025 Third Quarter Results Presentation
Fiscal Year 2025 Third Quarter Results Presentation STOCK CODE: 9449 November 13, 2025 1
Slide 2: Agenda
1. Strategic Highlights and Summary 2. Key Topics (Security, AI & Robotics) 3. Segment Performance & Shareholder Returns i) Group Overview ii) Performance by Segment iii) Shareholder Returns 2
Slide 3: Strategic Highlights and Summary
Strategic Highlights and Summary Become a group that will continue to thrive over the next century by thoroughly implementing long- term management. Progress in initiatives toward further evolution of the group structure. In Q3 FY2025, operating profit reached JPY 14.7 billion, Infrastructure marked
Slide 4: Strategic Highlights and Summary: Q3 FY2025 (Jul-Sep)
Strategic Highlights and Summary: Q3 FY2025 (Jul-Sep) Strong performance in Infrastructure and Security, driving high operating profit levels.. Q3’24 Q3’25 YoY ( JPY billions ) Change (Jul-Sep) (Jul-Sep) Change Net Sales 69.6 71.2 +1.6 +2.4% Operating Profit 11.8 14.7 +2.9 +24.6% Ordinary Profit 9.4
Slide 5: Strategic Highlights and Summary: Q3 FY2025 (Jan-Sep)
Strategic Highlights and Summary: Q3 FY2025 (Jan-Sep) Record-high revenue and operating profit. Q3’24 Q3’25 YoY ( JPY billions ) Change (Jan-Sep) (Jan-Sep) Change Net Sales 206.1 213.8 +7.7 +3.7% Record high Operating Profit 35.8 44.4 +8.6 +24.2% Record high Ordinary Profit 34.6 41.4 +6.8 +19.6% Net
Slide 6: Strategic Highlights and Summary: Q3 FY2025 (Jul-Sep)
Strategic Highlights and Summary: Q3 FY2025 (Jul-Sep) Evaluation Q3 Q2 Record high Net sales JPY 44.7B (Up 7.1％ YoY) GMO-PG and GMO-I driving overall performance. Internet GPU Cloud: Achieved monthly profitability, OP JPY 10.2B " " " " Infrastructure (Up 28.4％ YoY) Entering the investment recovery p
Slide 7: Strategic Highlights and Summary: Q3 FY2025 (Jul-Sep)
Strategic Highlights and Summary: Q3 FY2025(Jul-Sep) Net sales Operating Profit Up 1.6B YoY Up 2.9B YoY +0.8 ( JPY billions ) ( JPY billions ) +2.9 +0.4 +0 14.7 +0.4 +0.7 71.2 +2.2 +0.3 +0.5 +0.7 ▲0.5 69.6 ▲0.1 67.6 ▲3.9 ▲0.2 11.8 9.5 Q3’ Infra Crypto Q3’ Q3’ Infra Crypto Q3’ Security Finance Ad VC
Slide 8: Q3 FY2025 Revenue Growth Ranking
Q3 FY2025 Revenue Growth Ranking * New growth drivers emerging to support sustainable mid to long term expansion. Revenue Growth Business Business Relationship Rank Name Listing Status Rate (YoY) Segment Description with GMO IG 1 64% Online Ad & Media Beauty and medical DX support services GMO Media
Slide 9: Generated high levels of profit
* Operating Profit（excluding VC investments） （JPY billions） Generated high levels of profit 15.8 14.6 14.4 13.9 12.4 12.5 12.0 10.8 10.8 10.6 10.2 9.8 9.7 9.6 9.6 9.5 7.8 8.1 8.0 7.1 6.1 5.9 5.6 * VC Investments (Incubation Business) Excluding VC Investments (Incubation Business) Q1 Q2 Q3 Q4 Q1 Q2 Q
Slide 10: Agenda
1. Strategic Highlights and Summary 2. Key Topics (Security, AI & Robotics) 3. Segment Performance & Shareholder Returns i) Group Overview ii) Performance by Segment iii) Shareholder Returns 10
Slide 11: Internet Security: A safer future for Everyone
Internet Security Providing Comprehensive Internet Security Services A safer future for Everyone Protection against Countermeasures against Monitoring and Takedown eavesdropping, tampering, cyberattacks. Support for Impersonation. impersonation. （Cyber security） (Brand security) (Cryptographic Secur
Slide 12: Internet Security | Three Key Areas
Internet Security | Three Key Areas Cryptographic Security Cyber Security Brand Security Operating Companies Services and Products Vulnerability Assessment and Penetration Testing Te c h n i c a l a n d Expertise in managing Key Advanced skills of white - operational expertise as intellectual proper
Slide 13: Internet Security | Full-Year Revenue by Segment
Internet Security｜Full-Year Revenue by Segment （JPY billions） 19.4 18.5 2.8 Brand 4.0 security 13.1 4.7 Cyber Growth accelerated, driven security primarily by Cybersecurity 3.8 1.6 2.1 1.4 business. 1.3 11.8 Cryptographic 9.2 10.6 Security 6.9 7.5 Impersonation Monitoring and Takedown Support (Brand
Slide 14: 'Internet Security for Everyone' project
'Internet Security for Everyone' project Internet Security for Everyone A Safe Future for Everyone. 14
Slide 15: 'Internet Security for Everyone' project
'Internet Security for Everyone' project Ongoing initiatives to establish top-of-mind brand recognition Phase1 From Feb. 2025 Phase3 From May 12. 2025 Phase4 From July 8. 2025 Phase6 From July 29, 2025 Providing comprehensive internet security Launch support services for the application Providing Se
Slide 16: Phase3 'Internet Security for Everyone' project
Phase3 ‘Internet Security for Everyone’ project The application process is scheduled to begin in spring 2026. * https://group.gmo/security/yourbrand/ Prevent impersonation with “.yourbrand“ 16
Slide 17: AI-Robotics Conferences Awards
Al-Robotics Conferences Awards Siie Me “s Hosted o one of Japan’ s largest Al & Roffotics conferences
Slide 18: AI & Robotics | Launching a robot staffing service in April 2025
AI & Robotics ｜ Launching a robot staffing service in April 2025 No initial investment or specialized knowledge required; growing interest across diverse industries toward social implementation. 18
Slide 19: One of Japan's largest and most advanced conferences
One of Japan’s largest and most advanced conferences Held twice a year to showcase the latest in cutting-edge technology. 19
Slide 20: AI & Robotics | Generative AI services
AI & Robotics｜Generative AI services Simultaneous search across multiple generative AI models. Example: “Tell me about the history of the GMO Internet Group.” ChatGPT PLaMo Grok Gemini Perplexity Claude Six answers generated simultaneously. 20
Slide 21: Expanding Customer Base and New Strategic Focus Areas
Expanding Customer Base and New Strategic Focus Areas Delivering a wide range of indispensable and enduring value positioning security as a mid- to long- term growth driver. New Foundations Existing business AI x Robotics ( Focus Area ) Security Payment Support for Access online shops Cloud/rental s
Slide 22: Agenda
1. Strategic Highlights and Summary 2. Key Topics (Security, AI & Robotics) 3. Segment Performance & Shareholder Returns i) Group Overview ii) Performance by Segment iii) Shareholder Returns 22
Slide 23: Our group of businesses serves a customer base of 18.66 million
Our group of businesses serves a customer base of 18.66 million 23 Services as of end-September 2025
Slide 24: Net Sales by Segment
Net Sales by Segment Changes in rules to record the revenues* 71.3 71.5 71 71.2 69.4 69.6 Revenue up 68.8 67.6 (JPY billions) 65.5 66 2.1 1.7 64.6 64.4 1.5 3.5 2.2 2.3 61.2 62.5 62.5 1.4 1.7 2.4% 1.2 59.2 4.3 12.8 0.9 0.9 10.4 11.4 8.7 2.0 12.6 9.2 56.4 57.5 10.9 6.8 10.8 56 11.6 53.6 52.8 5.7 0.7 1
Slide 25: Profit by Segment
Profit by Segment 19.81 (JPY billions) 15.20 Profit Up 14.43 0.40 14.56 14.71 0.54 0.95 24.6％ 12.85 0.59 12.47 12.38 10.82 4.68 11.81 0.08 3.37 0.22 2.75 10.99 11.12 3.52 10.53 2.55 1.83 0.15 9.57 10.14 9.62 9.46 0.61 4.02 3.30 0.81 0.38 0.65 1.24 0.21 0.43 0.76 1.13 3.76 0.83 YoY 8.13 3.65 0.40 0.3
Slide 26: Agenda
1. Strategic Highlights and Summary 2. Key Topics (Security, AI & Robotics) 3. Segment Performance & Shareholder Returns i) Group Overview ii) Performance by Segment iii) Shareholder Returns 26
Slide 27: Internet Infrastructure | Net Sales by Sub-Segment
Internet Infrastructure | Net Sales by Sub-Segment Changes in rules to record the revenues*1 Record 44.7 (JPY billions) high 42.6 42.7 0.8 Revenue up 41.7 41.7 0.7 0.7 40.2 40.3 0.7 0.6 38.6 38.2 0.7 0.7 37.9 7.1％ 37.2 0.6 0.5 36.4 0.5 0.7 34.5 0.8 33.1 33.3 0.5 32.5 32.2 31.5 31.6 31.8 0.6 32.0 0.6
Slide 28: Internet Infrastructure | Operating Profit
Internet Infrastructure | Operating Profit (JPY billions) 10.20 9.93 Record 9.72 high Profit up 8.91 8.72 8.77 28.4％ 7.94 7.56 6.24 5.91 5.55 5.65 5.46 5.32 4.97 YoY 4.76 4.46 4.53 4.29 3.80 3.68 3.78 3.45 Exceeded ¥10 billion Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 20 2
Slide 29: Internet Infrastructure | GMO GPU Cloud business progress
Internet Infrastructure | GMO GPU Cloud business progress Achieved monthly profitability during Q3; moving toward full-scale operation in Q4. 29
Slide 30: Internet Infrastructure | GMO GPU Cloud business progress
Internet Infrastructure | GMO GPU Cloud business progress Recognized for technological leadership and adopted by leading AI companies. Selected Customers Sakana AI AI Robot NEC Turing Co., Ltd. Co., Ltd. Association Corporation Adopted for next-generation AI Adopted for next-generation Adopted for a
Slide 31: Quarterly Performance Trends
Quarterly Performance Trends Marketing platform for physical stores. Achieved sustainable growth through both recurring and transaction-based models, and listed on the Growth Market on September 25. (JPY billions) 6.5 Main Services 5.0 4.6 1.5 1.2 Net Sales 0.8 Social media marketing AI-driven suppo
Slide 32: Internet Security | Net Sales by Segment
Internet Security | Net Sales by Segment Changes in rules to (JPY billions) record the revenues* 6.1 Revenue up 19.6％ YoY 5.6 5.2 5.1 5.1 2.1 4.9 1.0 0.3 4.7 0.4 4.5 0.8 0.3 4.3 0.7 1.0 4.0 0.3 3.8 1.6 Strong growth in cybersecurity 3.6 1.4 1.4 0.7 1.2 3.3 0.7 1.2 3.2 0.3 1.0 0.8 continues. 1.1 0.2
Slide 33: Internet Security | Operating Profit
Internet Security | Operating Profit (JPY billions) 1.95 Profit Up 0.4B YoY 0.69 0.64 Continued strategic 0.58 0.60 0.52 0.56 0.40 0.44 0.38 0.34 0.33 investments in cybersecurity. 0.25 0.29 0.24 0.21 0.16 0.13 0.12 -0.01 -0.04 -0.24 -0.33 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Slide 34: Online Advertising & Media | Net Sales
Online Advertising & Media | Net Sales Changes in rules to record the revenues* Revenue down 3.1% (JPY billions) 13.7 13.7 12.8 YoY 12.3 12.4 12.1 11.4 10.7 8.6 8.7 9.1 9.0 9.2 8.7 8.8 9.0 9.3 8.7 9.4 9.4 Stock-based revenue remained solid. 9.6 8.5 8.3 8.2 8.3 8.0 8.5 8.6 7.7 3.9 3.5 8.1 4.2 4.6 4.3
Slide 35: Online Advertising & Media | Operating Profit
Online Advertising & Media | Operating Profit (JPY billions) 1.13 0.96 Profit down 0.64 0.81 0.77 0.83 0.76 0.80 0.81 0.65 0.61 24.3% YoY 0.57 0.54 0.46 0.43 0.35 Profit declined due to weak 0.19 performance in flow-based 0.01 0.03 businesses. -0.07 -0.13 -0.14 -0.20 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
Slide 36: Internet Finance | Historical Performance by Quarter
Internet Finance | Historical Performance by Quarter 12.7 12.6 12.2 11.6 Revenue down (JPY billions) 11.3 11.3 11.4 10.7 10.9 10.8 10.3 10.5 10.4 31.1% YoY 10.0 9.1 9.0 9.2 8.7 8.2 7.3 6.9 6.5 Profit down 6.0 16.8% YoY Net Sales 4.68 ※ 3.81 3.85 3.65 3.76 3.83 3.60 3.52 OP 3.39 3.10 3.30 3.37 2.62 2
Slide 37: Internet Finance | Net sales by each product
Internet Finance | Net sales by each product (JPY millions) Revenue down 37.1％ YoY *1 FX 1,960 1,648 Revenue down 24.6％ YoY 2,257 *2 1,478 1,462 CFD 1,459 8,421 Revenue declined in both FX 5,403 6,470 5,294 and CFD businesses 3,881 3,335 Securities and others CFDs / Stock Index Binary Options *2 OTC
Slide 38: Internet Finance | FX net sales and trading volume
Internet Finance | FX net sales and trading volume 928 880 667 576 Volatility declined, mainly in USD/JPY. 375 285 Trading volume decreased, remaining at a low level. 8,421 6,470 5,403 5,294 3,881 ■ Net sales of OTC-FX/binary options (JPY millions) 3,335 ■ FX Trading volume (JPY trillions)* Q1 Q2 Q3
Slide 39: Internet Finance | FX business KPI Overview
Internet Finance | FX business KPI Overview * Customer Margin Balance Quarterly Active Users Share Trend （ JPY billions ） 25Q2 Share 16% Record high for the second consecutive quarter 375 374 360 380 393 14% Approx 15％ Strategic shift: from share-focused to 12% user-growth-focused approach. 10% Q1 Q
Slide 40: Cryptoassets business | Historical Performance by Quarter
Cryptoassets business | Historical Performance by Quarter (JPY billions) 6.8 5.7 Revenue up 3.6 4.3 3.5 51.2% YoY 2.7 2.3 Profit up 164% YoY 2.1 2.2 2.0 2.0 1.6 4.02 1.7 1.7 1.5 Net 1.4 1.2 1.2 1.4 Sales 0.8 2.34 0.9 0.9 0.7 1.83 1.48 1.24 Active market conditions drove an 0.95 OP 0.42 0.38 0.21 0.1
Slide 41: GMO AOZORA NET BANK
GMO AOZORA NET BANK GMO 41
Slide 42: GMO Aozora Net Bank | Full-year results trends
Full-year results trends Revenue up 4 （JPY billions ） 3 2 52% YoY Profit up 0.5B YoY *1 1 Sales *2 0 Operating Customer base continued to profit expand. -1 Transaction revenue increased. -2 *3 *1 Ordinary income (banking business) – Total income from banking operations Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Slide 43: Net Bank | Business KPI Status
Net Bank | Business KPI Status *1 Main bank growth rate ranked No.1 for two consecutive years, continuing solid expansion. *2 Number of business accounts BaaS by GMO Aozora （Thousand Companies） （Number of Contracts） 214 936 Up 37.1％ YoY Up 28.0％ YoY 731 156 552 101 367 57 196 27 13 79 *3 Q1 Q2 Q3 Q4
Slide 44: Net Bank | Deposit balance
Net Bank | Deposit balance 1,141 （ JPY billions ） Achieved Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 * JPY 1 trillion 20 21 22 23 24 25 * Fiscal year refers to our accounting period ending in December 44
Slide 45: Agenda
1. Strategic Highlights and Summary 2. Key Topics (Security, AI & Robotics) 3. Segment Performance & Shareholder Returns i) Group Overview ii) Performance by Segment iii) Shareholder Returns 45
Slide 46: Shareholder Returns | Policy
Shareholder Returns | Policy Total Shareholder Dividend Payout Ratio Share Buyback Returns Ratio 50% Over 33% 17% Net profit at end of fiscal Quarterly dividend year to form basis of buyback in following year 46
Slide 47: Shareholder Returns | Dividend per share
Shareholder Returns | Dividend per share ( JPY ) 52.7 47.6 12.6 44.1 41.8 Based on our policy, 14.2 10.0 9.5 dividend payout 30.8 10.8 28.0 ratio is a minimum of 33% 7.7 10.6 16.8 10.2 12.2 6.9 7.4 7.5 ■ Q4 ■ Q3 6.2 19.6 17.6 ■ Q2 17.1 17.2 12.2 ■ Q1 6.6 20 21 22 23 24 25 47
Slide 48: Shareholder Returns | Share Repurchase and Cancellation
Shareholder Returns | Share Repurchase and Cancellation * Completed share repurchase under current resolution Progress Planned Acquisition value JPY 9.9B * 10.0B Total shares repurchased 3.19M shares 4.6M shares *Board resolution dated February 12, 2025 48
Slide 49: Internet for Everyone
Internet for Everyone GMO
Slide 50: Next earnings announcement and forward-looking statements
We are planning on making an earnings announcement for FY2025 Full Year after 3:31 pm on February 12, 2026. This document includes projections based on expectations, premises and plans as of November 13, 2025. These projections may differ from actual results due to factors including changes in the g
Slide 51: Appendix
Appendix 51
Slide 52: Group Overview
Group Overview Financial condition and strategy Consolidated results Topics ESG activities 52
Slide 53: Group Overview
Group Overview Company Name GMO Internet Group, Inc. Founder, Chairman Masatoshi Kumagai and Group CEO Address (Group Head Office) Cerulean Tower 26-1 Sakuragaokacho, Shibuya-ku Tokyo (The 2nd Group Head Office) SHIBUYA FUKURAS1-2-3 Dogenzaka, Shibuya-ku, Tokyo Established May 24, 1991 Stock Listing
Slide 54: Operating companies (1/2)
Operating companies(1/2) As of the end of March 2025 GMO I （4784） GMO-GSHD GMO-PG GMO-FG （3769） （4051） （3788） Internet Security GMO-PB （3633） Infrastructure Other GMO-COM (410A) Other GMO-I：GMO Internet GMO-PG：GMO PAYMENT GATEWAY GMO-FG：GMO FINANCIAL GATE GMO-GSHD：GMO GlobalSignHD GMO-PB：GMO PEPABO
Slide 55: Operating companies (2/2)
Operating companies(2/2) As of the end of March 2025 GMO CLICK Securities GMO-I (4784) GMO-FH Internet Finance (7177) GMO-TE HD GMO Gaika (415A) Internet Advertising and GMO-ME GMO Coin Media (6180) GMO-FH Cryptoasset （7177） GMO-PP Other (3695) Other Incubation Other GMO-TE：GMO GMO TECH Holdings GMO
Slide 56: Internet services operations
Internet services operations As of the end of March 2025 GMO-I(4784) GMO-PB (3633) E-commerce Domain GMO-PB (3633) GMO-COM (410A) solutions Others Other GMO-I(4784) GMO-PG (3769) Cloud and Rental GMO-GSHD (3788) Payment GMO-FG (4051) Server (Hosting) Business Others GMO-PB (3633) Other Provider GMO-
Slide 57: Our Strengths for Sustainable Growth
Our Strengths for Sustainable Growth 57
Slide 58: Our Strengths for Sustainable Growth
Our Strengths for Sustainable Growth 1. Independent management 2. Operations and development of our own technology 3. Solid recurring revenue 58
Slide 59: Independent management
1. Independent management Each group company pursues the No. 1 strategy under the “GMO-ism” and creates growth products. As a result, our group with diversified risk management strategy. 59
Slide 60: Operations and development of our own technology
2. Operations and development of our own technology Engineers & Creators ratio ※2 Limited to hiring Advanced and AI Talent 7,585 7,525 7,546 7,565 7,497 7,505 7,438 7,431 7,317 7,361 7,393 7,396 7,133 7,213 7,042 6,767 6,782 6,554 Goal: Workforce of over 6,272 6,180 6,012 5,958 6,048 50.5％ 50.7％ 46.
Slide 61: Solid recurring revenue
3. Solid recurring revenue That means our core business policies, Indispensable products that will not disappear With recurring revenue business model 61
Slide 62: Consolidated Net Sales
Consolidated Net Sales (JPY billions) Changes in rules to 277.4 record the revenues* Sustainable growth 9.1 * "Accounting standards related to revenue recognition" ( accounting standard No. 29 ) 00 02 04 06 08 10 12 14 16 18 20 22 24 62
Slide 63: Solid recurring revenues
3. Solid recurring revenues Both unit price and number of contracts increased, leading to expansion. Unit price Solid recurring revenue 1.6times × Number of contracts 2.8times Solid recurring revenue Other revenue 1.7times 16 17 18 19 20 21 22 23 24 * The combined value of stock and transaction reve
Slide 64: Internet Infrastructure | Contracts
Internet Infrastructure | Contracts ＋1.92 ▲0.60 (millions) +0.25 +1.24 Solid recurring +0.3 *1 15.78 revenues base 15.78M 14.56 14.58 14.29 12.29 12.27 11.43 11.52 customers Increased contracts 0.59M YoY Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 * 1: Impact of overseas dom
Slide 65: Our response to social trends
Our response to social trends Adoption of Cloud Acceleration of DX Spread of AI Megatrends Computing Robotics and Emerging Trends Promoting a paperless Strengthening of data Growing threat of Widespread of environment privacy regulations cyber crime Cashless Payment Security Cloud/rental server Sele
Slide 66: Listed Group Companies | Market Cap and Equity Share
Listed Group Companies | Market Cap and Equity Share Market Cap*1 Equity Share Stock Code Company Name Exchange % Ownership*2 ( JPY billions ) ( JPY billions ) 9449 GMO Internet Group Prime 377.3 3769 GMO Payment Gateway Prime 673.7 41.1% 271.9 4784 GMO Internet Prime 244.4 93.0% ※3 210.6 7177 GMO F
Slide 67: Shareholder Return Performance
Shareholder Returns｜Shareholder Return Performance 145.3% 107.8% 83.2% Revised shareholder benefits, focusing on profit returns through dividends and share 14.41 57.3% 59.0% buybacks. 49.9% 12.11 Total payout ratio is expected to reach 8.55 10.03 8.37 10.00 108％ 4.25 9.36 6.59 3.68 5.16 1.50 5.78 5.
Slide 68: Share repurchase and cancellation – progress toward long-term target
※1 Shareholder Returns｜Share repurchase and cancellation – progress toward long-term target Repurchasing and retiring shares issued for capital increase following the withdrawal from the loan credit business (2007). Long-term 38.35 M shares target 17.42 M shares （Progress 45.4％） ※2 Repurchased Retir
Slide 69: Group Overview
Group Overview Financial condition and strategy Consolidated results Topics ESG activities 69
Slide 70: Consolidated Cost Composition
Consolidated Cost Composition (JPY millions) 65,000 60,000 55,000 Human resources 14,805 12,994 50,000 14,044 13,856 Advertising and promotion 13,193 45,000 Depreciation and leases 3,351 3,190 3,251 3,186 40,000 3,544 3,636 Outsourcing costs 3,564 1,949 3,677 4,086 5,374 5,814 5,485 35,000 Communica
Slide 71: Consolidated Balance Sheets
Consolidated Balance Sheets GMO GMO End of End of (JPY millions) Changes Financial HD Internet Group 12/24 9/2025 (End of 9/25) (End of 9/25) Current Assets 1,945,899 2,072,031 126,131 1,451,874 169,229 Cash & Deposits 469,168 503,290 34,122 109,766 118,031 Fixed Assets 205,215 210,885 5,670 34,656
Slide 72: Consolidated Statement of income
Consolidated Statement of income Q3'24 Q3'25 supplementary (JPY millions) Changes (1-9/2024) (1-9/2025) information Net Sales 206,104 213,815 3.7% Gross Profit on Sales 123,494 128,042 3.7% Operating Income 35,825 44,486 24.2% （OP Margin） 17.4% 20.8% +19.7pt Non Operating Profit and Loss -1,126 -2,9
Slide 73: Financial Strategy
Financial Strategy ・Avoid excessive risk-taking, considering balance of Shareholders equity ・Aiming to Equity balance, 100 Billion yen. Asset management Procurement ①Business All investments are subjected to our Risk management policy ①Multiple ways Agile procurement investment which up to 2/3 of Eq
Slide 74: Financial Strategy | Procurement: Multi ways of financing
Financial Strategy｜Procurement① Multi ways of financing • Continuous procurement helps growth capital ensured. The way to procure Totall Interest-bearing debt Direct Indirect （JPY 100M） FY22 FY23 FY24 Domestic Total 3,911 4,735 5,548 Debt finance Corporate Bonds Corporate 717 1,312 1,419 Individual
Slide 75: Financial Strategy | Procurement: Lengthening term, Fixed interest rate
Financial Strategy｜Procurement②③ Lengthening term・Fixed interest rate • Aiming to build a strong financial base Debt balance average term Fixed interest rate ratio （Year） FY22 FY23 FY24 （%） FY22 FY23 FY24 Corporate bond 3.9 3.5 2.9 Corporate bond 100.0 100.0 100.0 Debt finance Debt finance 3.8 3.6 4
Slide 76: Financial Strategy | Asset management: Cash on hand
Financial Strategy｜Asset management②Cash on hand • Keeping enough repayment cash(the amount for debt financing repayment next year and for corporate bond’s repayment next 2 years) （100M Yen） FY22 FY23 FY24 cash and cash equivalents 3,222 3,889 4,665 Balance of interest debt within 793 1,106 1,904 3Y
Slide 77: Others | Credit rating
Others｜Credit rating Strategy • Plan to maintain current rating and aiming to be upgraded. • Having conversation with R&I before-hand, when decision making on a huge investment to be carried out. Current situation Rating agency Issuer Rating JCR A-(Stable) R&I BBB+(Stable) 77
Slide 78: Group Overview
Group Overview Financial condition and strategy Consolidated results Topics ESG activities 78
Slide 79: Global Operations | Global Net Sales
Global Operations | Global Net Sales (JPY billions) 9.8％ 8.5％ 8.9% 9.0％ Global 5.9％ 6.15 7.5% Net sales Sales Ratio YoY 5.91 5.37 5.20 9.2% Down 5.04 3.01 Net Sales Since Q2 FY2020, MacroKiosk is no longer a consolidated subsidiary. We deducted MacroKiosk values from net sales retroactively to Q1 FY
Slide 80: Internet Infrastructure
Internet Infrastructure 80 80
Slide 81: Internet Infrastructure | Breakdown of Operating Profit
Internet Infrastructure | Breakdown of Operating Profit (JPY billions) 7.83 YoY 39.8%Up 5.60 4.33 3.35 3.17 YoY 6.4%Down 2.97 2.84 2.58 1.61 1.72 1.50 1.31 -0.39 -0.37 -0.33 -0.59 -0.63 -0.79 Payment business Except payment business Cost allocation Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
Slide 82: Internet Infrastructure | Provider - KPIs
Internet Infrastructure | Provider - KPIs Revenue Subscriptions (JPY millions) (thousands) Focusing on our in-house product, resulting in a stable trend in the Changes in rules to number of lines 10,892 record the revenues* 2,229 2,250 2,262 10,002 10,009 10,020 9,917 2,225 9,681 2,166 2,128 Q1 Q2 Q
Slide 83: Internet Infrastructure | Provider - KPIs (number of lines)
Internet Infrastructure | Provider - KPIs（number of lines) etc Optical line Mobile+Others Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 ※Mobile and others indicated combined after FY23Q3 2020 2021 2022 2023 2024 2025 83
Slide 84: Internet Infrastructure | Domain Registration - KPIs
Internet Infrastructure | Domain Registration - KPIs Revenue Contracts (JPY millions) (thousands) Increase driven by campaign Changes in rules to effects record the revenues* 10,993 2,804 2,655 10,178 2,470 2,379 2,131 8,177 1,994 6,895 7,045 6,714 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
Slide 85: Internet Infrastructure | Domain business
Internet Infrastructure | Domain business ②2009～ Registry (wholesale) ①1999～ ③2012～ Registrar (registration/sale) Japan Overseas 85
Slide 86: Internet Infrastructure | Domain business contracts progress
Internet Infrastructure | Domain business contracts progress Increase driven by (thousands) campaign effects 3,743 3,475 1,981 Renewal rate: 72.5%* 1,246 986 722 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2020 2021 2022 2023 2024 2025 *From FY24.Q3, the renewal rate calcula
Slide 87: Internet Infrastructure | Hosting & Cloud - KPIs
Internet Infrastructure | Hosting & Cloud - KPIs Revenue Contracts (JPY millions) (thousands) Changes in rules to record the revenues* 1,124 1,097 1,100 1,087 5,905 1,052 5,380 5,158 936 4,693 4,107 3,810 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
Slide 88: Group synergies case ASP shopping cart × payment
Group synergies case ASP shopping cart × payment Recurring revenue and transaction revenue through a natural cross-selling Feature Online store Payment Service Business model Recurring Transaction Revenue Number of stores x unit price GMV x commission rate, etc. Reportable segments Ecommerce Solutio
Slide 89: Internet Infrastructure | Ecommerce solutions - KPIs
Internet Infrastructure | Ecommerce solutions - KPIs Revenue Contracts (ASP shopping cart) (JPY millions) (thousands) Other Transaction revenue (minne・SUZURI) Recurring revenue (ASP shopping cart) Despite of the ongoing downward trends, the number Changes in rules to of high-priced plans are record
Slide 90: Internet Infrastructure | Ecommerce Solutions: transaction volume
Internet Infrastructure | Ecommerce Solutions: transaction volume ( JPY billion ) 137 YoY 128 123 119 119 111 6.9% UP Freenance SUZURI, Canvath minne Ecommerce Platform Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 20 21 22 23 24 25 90
Slide 91: Internet Infrastructure | Payment processing - Our Role
Internet Infrastructure | Payment processing -Our Role Connecting merchants and payment companies through ‘contracts,’ ‘payment information,’ and ‘money flow’. Consumer Merchant GMO-PG consolidated Payment subsidiaries Companies 163,890 stores*1 40+ Credit card (As of end-Mar 2025) companies EC Conv
Slide 92: Internet Infrastructure | Payment Quarterly KPIs
Internet Infrastructure | Payment Quarterly KPIs Group-wide annual TRX value reaches approx. ¥21.8 trillion in the past 12 months Operating TRX volume*2*3 TRX value*2 Stores*1/Terminals*2 GMO:FY2025.Q3 GMO:FY2025.Q3 GMO:FY2025.Q3 Past 12-month Past 12-month PG:FY2025.Q4 PG:FY2025.Q4 PG:FY2025.Q4 - 2
Slide 93: Security
Security 93 93
Slide 94: Internet Infrastructure | Number of contracts
Internet Infrastructure | Number of contracts ( millions ) *2 5.07M 21.0%UP 4.19 *1 Number of contracts YoY 2.83 No.1 1.48 0.67 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 20 21 22 23 24 25 * 1：Cumulative number of contracts sent with electronic signatures and timestamps in
Slide 95: Internet Infrastructure | ARR (Annual Recurring Revenue)
Internet Infrastructure | ARR (Annual Recurring Revenue)* (JPY billions) 1.91 36.1%UP 1.40 1.23 YoY * Calculated by multiplying the total monthly fees at the end of each Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 quarter by twelve (excluding one-time revenues). 22 23 24 25 95
Slide 96: Countermeasures against cyberattacks business | Achievements
Countermeasures against cyberattacks business | Achievements Cyber Security Assessment More than 12,600 cases More than 150 World's Largest No.1 No.1 white hat No.1 largest hackers contest in contest enrolled Japan three years in a row ※1:Based on our survey ※2:SECCON CTF 13 Finals: Ranked No.1 in J
Slide 97: Countermeasures against cyberattacks business | Service usage
Countermeasures against cyberattacks business | Service usage 97
Slide 98: Countermeasures against cyberattacks business | Mid- to long-term growth
Countermeasures against cyberattacks business | Mid- to long-term growth Expand the business scale by using the customer base and introducing SaaS products SaaS products Using the the customer base Existing business 98
Slide 99: Internet Infrastructure & Security | Collection of No. 1 services
Internet Infrastructure & Security| Collection of No. 1 services Domestic market share at 83.0 Strong No. 1 Domain Registry % ＊1 Domestic market share at Domain Registrar 83.5 Strong No. 1 % ＊2 Domestic market share at No. 1 Hosting & Cloud 64.3 % ＊3 No. 1 ASP Cart 48K paid stores Domestic market sh
Slide 100: 'Internet Security for Everyone' project Phase1 'GMO Security 24'
'Internet Security for Everyone' project Phase1'GMO Security 24 Free 24/7 access to password leak checks, web risk assessments, and AI-powered security consultations * https://group.gmo/security/?lang=en 100
Slide 101: Phase4 'Internet Security for Everyone' project
Phase4 ‘Internet Security for Everyone’ project Provide leading security AI free of charge to open-source developers supporting the Internet (from July 8, 2025) * https://group.gmo/security/oss-support/ 101
Slide 102: Phase6 'Internet Security for Everyone' project
Phase6 'Internet Security for Everyone’ project Visualize unauthorized access risks seamlessly from physical space to cyberspace (from July 29, 2025) Commemorative photo taken after the press conference 102
Slide 103: Internet Security by GMO Project - Cybersecurity Conference & Awards Ceremony 2025
“Internet Security by GMO” Project - Phase 2 GMO S4N-CFWT4 KB REN | ‘Cybersecurity Conference & Awards Ceremony 2025 Main speakers yy Yutaka Matsuo Masaaki Taira Shigeru Ishiba Jiro Hiroe Takayuki Furuta The University of Tokyo, graduate Government of Japan Minister in Government of Japan Japan grou
Slide 104: Internet Finance
Internet Finance 104 104
Slide 105: Internet Finance | Domestic FX volume and share transition
Internet Finance | Domestic FX volume and share transition Domestic trading volume Domestic share (Sum of 3 companies ※1 (Sum of 3 companies) （JPY trillion） Q3’25 Trading Volume Share: 21.5 % Gradual upward trend since the change in policy ※This information is prepared by GMO-FH accordance with a “O
Slide 106: Internet Finance | CFD transaction and revenue transition
Internet Finance | CFD transaction and revenue transition ■Transaction （JPY trillion） ■Revenue (JPY million） Transaction volume YoY 9.3 %DOWN Profit YoY 24.7% DOWN Revenue softened, reflecting lower trading volumes and narrower spreads aimed at improving customer value. * Prepared based on GMO-Finan
Slide 107: Internet Finance | FX Business Model
Internet Finance | FX Business Model • Effective matching and thorough risk minimization with cover transactions executed with counter parties as soon as customer orders exceed acceptable risk position. GMO CLICK Securities Cover the client transactions that exceed acceptable limits ● ● ● Cover orde
Slide 108: Cryptoasset
Cryptoasset 108 108
Slide 109: Cryptoasset Business
Cryptoasset Business Mining Mining Business Crypto Exchange Exchange business asset Payment Payment business ┗ Issuing Stablecoin 109
Slide 110: Cryptoasset Exchange Business | Trading volume
Cryptoasset Exchange Business｜Trading volume (JPY Billion) YoY 4.4% down In Q3 FY2025, trading volume increased both quarter over quarter and year over year, driven by record-high prices of Bitcoin and Ethereum. * Prepared based on GMO-Financial Holdings presentation materials 110
Slide 111: Cryptoasset Exchange Business | Accounts and deposit asset transition
Cryptoasset Exchange Business | Accounts and deposit asset transition ■Client Asset under Custody ■Crypto-asset accounts (JPY billion) (1K accounts) Accounts YoY 101 K UP Deposit Asset YoY 62.8%UP * Prepared based on GMO-Financial Holdings presentation materials 111
Slide 112: Cryptoassets Exchange | Business model
Cryptoassets Exchange | Business model OTC Trading Exchange Trading Hedging counter part positions Offering the order matching by cover order platform Liquidity Provider Customer Broker Trading Cover order Trading BUY Exchange SELL Main income：Spreads Main income：Transaction fee （buy and sell spread
Slide 113: Group Overview
Group Overview Financial condition and strategy Consolidated results Topics ESG activities 113
Slide 114: TOPICS: Pioneering the Future with AI
—* Becoming the No.1 Corporate Grou Pioneering the Future with Al . 114
Slide 115: Our initiatives towards realization (1/2)
Our initiatives towards realization （1/2） Driving research and development in AI, particularly in financial data analysis, and achieved significant results since hiring our first data scientist approximately 10 years ago. GMO NIKKO has built and analyzed big data analytics(DMP)infrastructure FY2013
Slide 116: Our initiatives towards realization (2/2)
Our initiatives towards realization （2/2） We promptly began utilizing ChatGPT across the entire group, expecting its potential impact after the emergence of it in November 2022. ①Time and Cost savings ②Improvement in the quality of existing services ③Offering new services to the AI Industry Based on
Slide 117: GMO-AIR Co.Ltd | Business Model
GMO-AIR Co.Ltd | Business Model Aiming of a lean, High-performance Organization that fully utilizes AI 117
Slide 118: GMO AIR | Labor as a Service (Humanoid Rental)
GMO AIR｜Labor as a Service（Humanoid Rental） 118
Slide 119: Group Overview
Group Overview Financial condition and strategy Consolidated results ESG activities 119
Slide 120: ESG activities | Materiality
ESG activities | Materiality Solving social issues through business Dedication to the No.1 Service. Challenge We are dedicated to providing the dominant No.1 service in the Internet industry by operating and developing our own technology. Responsibility to protect our customers’ smiles. Safety We en
Slide 121: ESG activities | Materiality Matrix
ESG activities | Materiality Matrix The key issues were identified through an assessment based on opportunities and risks from the perspective of both "importance to stakeholders" and “Significance to GMO Internet Group." 121
Slide 122: ESG activities | Sustainability management for SDGs
ESG activities | Sustainability management for SDGs Our business helps Social and environmental issues to be solved. ・ ・ ・ 122
Slide 123: ESG activities | Disclosure Processes/External Evaluation
ESG activities | Disclosure Processes/External Evaluation [Disclosure Progress] Jan. 2024 FTSE ESG Ratings FTSE ESG Ratings 2.8 2.9 Assessment by ESG rating agencies / Inclusion in ESG indexes Mar. 2023 Dec. 2023 *2 Expanding Human capital disclosure Plans to publish integrated report （September 202
Slide 124: Internet for Everyone
Internet for Everyone 124 124