Hakuhodo Dy Holdings IncorporatedTSE: 2433

Presentation Material (Financial) for 3Q FY2025

· Issued by Hakuhodo Dy Holdings Incorporated
Consolidated Financial Highlights Third Quarter FY2025 (April-December, 2025)

Ⓒ HAKUHODO DY Holdings Inc, All Rights Reserved. | CONFIDENTIAL

February 12, 2026

Ⓒ HAKUHODO DY Holdings Inc, All Rights Reserved. | CONFIDENTIAL

Highlights of Consolidated Results for Q3 FY2025

  • Due to the effect of changes in the scope of consolidation and a reactionary decline from the gain on the sale of Mercari, Inc. shares recorded in the previous fiscal year, billings decreased by 3.0% YoY; however, billings in Q3 (October-December) increased by 1.5% YoY.

  • Gross profit turned to an increase for the first nine months (+0.8% YoY), and operating income increased by 26.3% YoY.

  • Although an extraordinary loss of ¥6.3 billion, including costs related to the structural reforms implemented both in Japan and overseas, was recorded, net income attributable to owners of parent increased by ¥10.1 billion YoY to ¥10.3 billion.

Q3 FY2025, YTD

（Millions of JPY）

Actual

YOY

Billings

1,115,175

-34,168

-3.0%

Gross Profit

287,605

+2,276

+0.8%

Operating Income

28,599

+5,950

+26.3%

Ordinary Income

29,540

+4,662

+18.7%

Net Income Attributable to Owners of Parent

10,371

+10,114

+3949.8%

Net Income before Amortization of G/W

19,710

+7,551

+62.1%

© Hakuhodo DY Holdings Inc. All rights reserved.

2

Q3 FY2025 Consolidated Results



  • Billings decreased by 2.7% YoY. Gross profit increased by 2.0% YoY. The gross margin improved by 1.2 percentage points.

  • SG&A expenses decreased by 1.4% YoY. Operating income before amortization of goodwill was ¥37.9 billion, an increase of ¥6.6 billion YoY.

Q3 FY2025, YTD

(Millions of JPY)

Actual

YOY

Billings

1,115,175

-30,901

-2.7%

Gross Profit

287,605

+5,532

+2.0%

Gross Margin

25.8%

+1.2pt

SG&A Expenses

259,005

-3,673

-1.4%

Operating Income

28,599

+9,206

+47.5%

Operating Margin

9.9%

+3.1pt

Amortization of Goodwill*

9,339

-2,563

-21.5%

Operating Income

37,938

+6,643

+21.2%

Operating Margin

13.2%

+2.1pt

before Amortization of G/W

before Amortization of G/W

© Hakuhodo DY Holdings Inc. All rights reserved.

* Amortization of goodwill represents the total of goodwill amortization required under Japanese GAAP and amortization of intangible assets following business combinations.

* After adjustments = Excluding impact from the sale of shares in Mercari, Inc. held by UNITED, Inc., an equity method affiliate. 3

Q3 FY2025 Consolidated Results (After Adjus tments ) 1



  • The operating income before amortization of goodwill for Q3 YTD increased by ¥6.6 billion YoY. In particular, the growth in gross profit in Q3 (an increase of ¥5.9 billion YoY) contributed to this increase.

    • Q1: Gross profit was in line with the previous fiscal year, and SG&A expenses decreased by ¥0.9 billion.

    • Q2: Gross profit decreased by ¥0.4 billion, and SG&A expenses decreased by ¥2.6 billion.

    • Q3: Gross profit increased by ¥5.9 billion, and SG&A expenses increased by ¥2.4 billion.

Key factors of increase and decrease (Billions of JPY)

45.0

40.0

35.0

30.0

25.0

20.0

5.9

37.9

2.6

-2.4

31.2

0.0

0.9

-0.4

Q3 FY2025 Q1 FY2025 Q2 FY2025

15.0

10.0

5.0

0.0

Q3 FY2024 Gross profit increase SG&A decrease Gross profit decrease SG&A decrease Gross profit increase SG&A increase Q3 FY2025

© Hakuhodo DY Holdings Inc. All rights reserved. 4

Q3 FY2025 Consolidated Results (After Adjus tments ) 2



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