Cyberagent Incorporated · TSE:4751
Cyberagent — Q2 2025 Earnings Presentation
43 slides from Cyberagent's earnings presentation, May 15, 2025
Slide 1: 2Q FY2025 Presentation Material
@A CyberAgent. 2Q FY2025 Presentation Material January to March 2025 May 15, 2025
Slide 2: Correction of past annual securities reports
We corrected past annual securities reports and others due to the discovery of an inappropriate accounting treatment at the consolidated subsidiary. Please refer to the “Notice on Submission of Correction Reports of Past Annual Securities Reports and Amendments of Financial Statements for Past Fisca
Slide 3: Contents
0. Contents 1. Financial Summary (January - March 2025) 2. Forecast 3. Media & IP Business 4. Internet Advertisement Business 5. Game Business 6. Medium to Long-Term Strategy 7. References 2
Slide 4: FY25 Q2 Financial Summary
FY25 Q2 Financial Summary January - March 2025 3
Slide 5: FY2025 Q2 Financial Summary by segment
1. Financial Summary FY2025 Achieved a record high in sales OP increased year-on-year, driven by Increase Sales : 217.3 billion yen up 1.2% YoY Q2 Media & IP and Ad businesses Increase OP : 20.8 billion yen up 0.7% YoY Increase in Sales and OP by building Increase Sales : 57.0 billion yen up 14.4% Y
Slide 6: Consolidated Sales: 217.3 billion yen
1. Financial Summary [Consolidated Sales] 214.7 217.3 YoY +1.2％ 203.8 195.4 203.7 192.6 Consolidated sales reached 192.1 190.9 185.0 190.0 a new record high 179.5 170.9 171.9 176.0 171.5 167.4 163.4 Q2 217.3 billion yen (up 1.2% YoY) 129.1 130.9 120.8 115.7 112.7 Billion Yen 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
Slide 7: Consolidated OP: 20.8 billion yen
1. Financial Summary [Consolidated OP] 44.4 Media & IP and Ad businesses 25.8 26.7 25.3 contributed to the OP 20.7 20.8 YoY +0.7％ 19.6 20.8 billion yen (up 0.7% YoY) 18.2 Q2 12.5 12.7 9.8 8.1 8.2 8.3 7.8 7.0 5.8 5.3 4.9 5.2 Billion Yen 0.9 -1.7 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3
Slide 8: SG&A Expenses: 44.9 billion yen
1. Financial Summary [SG&A Expenses] 50.0 2.5 44.8 44.4 45.6 44.9 43.7 43.5 40.7 40.7 40.4 11.6 44.9 billion yen 40.1 Q2 37.1 37.3 38.1 10.2 10.7 11.2 11.2 12.5 12.2 (up 1.1% YoY, down 1.6% QoQ ) 1.4 9.3 9.6 34.6 10.2 11.1 1.4 8.5 2.6 7.7 2.2 2.8 1.2 1.1 0.8 30.6 30.8 1.7 29.7 9.4 8.1 2.5 2.7 2.7 28
Slide 9: Number of Employees: 7,958
1. Financial Summary Investment Development 7,958 [No. of Employees] Headquarters Game 7,878 7,850 7,922 11 11 12 499 12 514 7,374 7,336 7,390 482 489 Internet Ad 7,241 12 10 10 13 Media&IP 432 445 457 416 6,682 6,563 6,406 6,472 13 14 14 13 380 7,958 as of the end of March 368 352 365 Total headcou
Slide 10: Financial Summary [PL]
1. Financial Summary [PL] million yen FY2025 Q2 FY2024 Q2 YoY FY2025 Q1 QoQ Net Sales 217,372 214,789 1.2% 203,842 6.6% Gross profit 65,827 65,219 0.9% 53,979 21.9% SG&A expenses 44,959 44,488 1.1% 45,678 -1.6% Operating income 20,868 20,730 0.7% 8,301 151.4% Operating margin 9.6% 9.7% -0.1pt 4.1% 5
Slide 11: Financial Summary [BS]
1. Financial Summary [BS] End of End of End of Unit: million yen YoY QoQ Mar. 2025 Mar. 2024 Dec. 2024 Current assets 358,758 363,486 -1.3% 367,429 -2.4% (Cash deposits) 199,171 204,506 -2.6% 205,583 -3.1% Fixed assets 161,488 132,011 22.3% 153,766 5.0% Total assets 520,288 495,553 5.0% 521,241 -0.2
Slide 12: FY2025 Forecast
FY2025 Forecast October 2024 - September 2025 11
Slide 13: FY2025 Forecast: 820 billion yen sales
2. Forecast Committed 8,880 to increasing sales and profits for medium to long-term FY2025 1580 Sales ¥820B 7,880 Committed to revenue and profit growth 1380 Media & IP business to turn positive 6,880 1180 5,880 0 820 billion yen (up 2.3% YoY) 980 4,880 Sales 1380 0 42 billion yen (up 4.8% YoY) 780
Slide 14: Forecast progress rate
2. Forecast [Forecast] Progress rate is steadily over 50% in the second quarter FY2025 Forecast Progress rate Sales 421.2B 51.4% 820B Progress rate Operating profit 29.1B 69.5% 42B 00%% 25% 50 % 50% 75% 100 % 100% *1 Unit: billion yen FY2025 Forecast FY2025 1H Total Progress FY2024 YoY Net Sales * 8
Slide 15: Media & IP
@A CyberAgent. Media & IP
Slide 16: Media & IP quarterly sales
3. Media & IP Business 57.0 [Quarterly Sales] YoY ＋14.4% 55.6 49.9 52.1 50.3 47.9 47.7 Sales increased by building multi-layered revenue 41.6 39.1 39.7 Q2 57.0 billion yen (up 14.4% YoY) 33.6 35.4 36.2 31.0 28.3 25.3 25.1 24.3 22.5 18.5 17.8 16.6 Billion Yen 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
Slide 17: Media & IP quarterly OP
3. Media & IP Business [Quarterly OP] 3.3 OP increased significantly, 3.3 driven by sales growth 1.4 Q2 3.3 billion yen (+2.8 billion yen YoY) 0.5 1.4 Billion Yen 0.2 0.5 -0.5 -0.4 -0.7 0.2 -0.7 -0.5 -0.4 -0.7 -0.7 -1.7 -1.9 -1.7 -1.9 -3.1 -3.2 -3.4 -3.5 -3.6 -3.7 -3.6 -3.1 -3.8 -3.2 -3.4 -3.5 -3.6
Slide 18: ABEMA sports content had strong viewership
3. Media & IP Business [ABEMA] Sports content had strong viewership in addition to popular genre such as anime and variety WAU Growth FIFA World Cup 30 million 3,000 28.92 million WAU * 2,500 25 million 2,000 20 million 15 million 1,500 1,000 10 million 5 million 500 0 * The number of WAU (weekly ac
Slide 19: ABEMA original programs gained popularity
3. Media & IP Business [ABEMA] Original programs gained popularity 2 ABEMA original dramas topped the Netflix weekly ranking Drama Dating reality shows Variety shows #1 Netflix Top10*1 Dead or Love #1 Netflix Top10*2 *1 Dead or Love took the #1 spot for the week of March 31 and April 6, 2025, in the
Slide 20: IP Business: small investments building relationships
3. Media & IP Business [IP Business] Small investments in building relationships led us to take a leading position in producing anime. Aim to create original IP in parallel with investment Investment Lead Manager Creation of original IP 2018 2019 2020 2021 2022 2023 2024 2025 Lead Manager Investment
Slide 21: IP business has been expanding gradually
3. Media & IP Business [IP Business] IP business has been expanding gradually since ABEMA’s launch 2016 2023 2024 2025 Launch January Anime Business Cygames Pictures, Inc. Animation AI Lab Unit Founding Establishment Establishment Establishment Founding February Tokyo Anime Anime AI Anime CAAnimatio
Slide 22: Many new businesses and projects launching
3. Media & IP Business [IP Business] Many new businesses, new projects are launching Feb.2025 Apr. 2025 Apr. 2025 Increasing global marketing partners MANGA APARTMENT opened Anime production company’s new office Masakazu Text text Ogawa, 19 talented young manga artists moved in Anime producer Partne
Slide 23: Building IP ecosystem aimed at global success
3. Media & IP Business [IP Business] Building a one-stop system from original IP creation to monetization Originals/Comics Anime Distribution/marketing Event/Merchandise Global Entertainment Business Unit Animation AI Lab Developing IP ecosystem aimed at global success ©AbemaTV, Inc. 22
Slide 24: Internet Advertisement
@A CyberAgent. Internet Advertisement
Slide 25: Internet Ad quarterly sales: 117.5 billion yen
4. Internet Advertisement Business 117.5 [Quarterly Sales] YoY +9.9% 106.9 117.7 110.8 Sales continue to increase at a high rate, 99.3 99.9 105.2103.8 104.9 111.8 driven by new client acquisition 96.8 92.1 95.4 87.6 117.5 billion yen (up 9.9% YoY) 82.0 80.6 81.7 Q2 76.5 72.8 67.3 64.1 64.9 Billion Y
Slide 26: Internet Ad quarterly OP: 6.0 billion yen
4. Internet Advertisement Business [Quarterly OP] 7.27 7.20 6.74 6.05 YoY 6.00 +8.7% 5.56 6.01 6.0 billion yen (up 8.7% YoY) 5.73 5.68 5.58 Q2 5.64 5.24 5.08 5.09 OPM was 5.1% 4.85 4.84 4.82 4.63 4.70 4.49 4.29 3.63 9.3% 8.5% 8.9% 7.2% 6.9% 7.4% 7.5% 5.2% 5.1% YoY 6.2% 6.4% 6.0% OP 5.9% 5.3% 5.1% 5.
Slide 27: AI to maximize advertising effectiveness and efficiency
4. Internet Advertisement Business [AI] In addition to leveraging AI to maximize advertising effectiveness, our scope also expands to enhance operational efficiency through AI FY2016 FY2025 Research & Development AI Utilization to maximize advertising effectiveness Operational efficiency Ver.2 Ver.3
Slide 28: AI agent service now available to external clients
4. Internet Advertisement Business [AI] AI agent service developed for internal use is now available to external clients. Mar. 2025 AI assistants for internal use Sales of customized AI agent to client Release A dedicated AI assistant supports operational tasks Reports that would take 1-2 days to co
Slide 29: Game
@A CyberAgent. Game 28
Slide 30: Game quarterly sales: 51.4 billion yen
5. Game Business [Quarterly Sales] 92.3 76.4 67.1 69.0 Year-on-year decrease due to the hit console 63.9 game released on February 1, 2024 62.1 58.3 54.8 51.4 Q2 51.4 billion yen (down 23.4% YoY) 46.2 44.8 45.0 44.9 42.3 40.9 34.6% quarter-on-quarter increase 39.0 38.8 38.2 36.7 35.2 driven by new g
Slide 31: Game quarterly OP: 15.3 billion yen
5. Game Business [Quarterly OP] 44.2 28.1 Year-on-year decrease due to the hit console game released on February 1, 2024 23.2 21.3 Q2 15.3 billion yen (down 15.7% YoY) 18.2 17.1 15.3 4.6x quarter-over-quarter increase 15.2 12.1 10.4 9.8 7.5 7.4 5.1 5.2 5.1 4.2 3.4 3.3 2.4 Billion Yen -0.1 1.1 1Q 2Q
Slide 32: New Game: SD Gundam G Generation ETERNAL
5. Game Business [New Game] SD Gundam G Generation ETERNAL* off to a good start with high user appreciation Apr. 16 2025 Publisher: Bandai Namco Entertainment Inc. Global release Co-developed by Bandai Namco Entertainment Inc. and Applibot, Inc. * ©SOTSU・SUNRISE ©SOTSU・SUNRISE・MBS 31
Slide 33: Upcoming games
5. Game Business [Upcoming games] 4 new games already launched so far, 6 games*1 in total will come out in FY 2025. Aim for global success on both the strong IPs and original IPs FY2024 FY2025 FY2026 onward 1. Console-Dec.2023 5. Console – Aug.2024 10. Mobile/PC 11. Mobile/PC - English ver. 13. Cons
Slide 34: External payment method is introduced
5. Game Business External payment method is introduced under the Act on Promotion of Competition for Specified Smartphone Software*1 Continue to implement in other apps External payment method Applied apps*3 Publisher’s own online User payment method Payment processing fee 5% Approx. *2 Sep.2024 Mar
Slide 35: Medium to Long-Term Strategy
Medium to Long-Term Strategy 34
Slide 36: Media & IP business to drive profitability in FY2025
6. Medium to Long-Term Strategy Media & IP business to drive profitability in FY2025 Build a high-profit business model by strengthening the IP business Before FY2024 FY2025 onward 1. Media 1. Media & IP Upfront Investment Aim to produce globally successful IPs 2. Internet 2. Internet Advertisement
Slide 37: Aiming to be a company with medium to long-term supporters
Aiming to be a company with medium to long-term supporters
Slide 38: Reference
@A CyberAgent. Reference
Slide 39: Purpose
7. Reference_ Purpose * Purpose is established in October 2021. 38
Slide 40: Integrated Report CyberAgent Way 2024
Integrated Report CyberAgent Way 2024 This year's report features an interview with two Outside Directors regarding the succession plan, which began in 2022. In addition, Koichi Watanabe, Representative Integrated Report Director of Cygames, Inc., talks about future prospects. The growth strategies
Slide 41: Forward-looking statement
[Forward-looking statement] The future information, such as earnings forecast, written in this document is based on our expectations and assumptions as of the date the forecast was made. Our actual results could differ materially from those described in this forecast because of various risks and unc
Slide 42: Copyrights of Media & IP Business
Copyrights of Media & IP Business on page 21 1 Puraore! –Pride of Orange- : ©2020 Praore! Media Mix Partners 2 IDOLY PRIDE：© 2019 Project IDOLY PRIDE/ Hoshimi Production 3 The Promised Neverland Season 2：© Kaiu Shirai, Posuka Demizu/ Shueisha, The Promised Neverland Production Committee 4 Zombieland
Slide 43: Copyrights of Game Business
Copyrights of Game Business on page 32 1 Granblue Fantasy Versus: Rising : © Cygames, Inc. Developed by ARC SYSTEM WORKS 2 Granblue Fantasy: Relink: © Cygames, Inc. 3 Jujutsu Kaisen Phantom Parade:© Gege Akutami/ Shueisha, Jujutsu Kaisen Production Committee © Sumzap, Inc./TOHO CO., LTD. 4 Gakuen iD