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FY26/3 Q3 Results Briefing Kakaku.com Inc. (TSE Prime 2371) February 4, 2026
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Kakaku.com, Inc. FY26/3 Q3 Results Executive Summary Q3 Highlights • Consolidated Results: Revenue reached 24 billion yen (68.9 billion cumulative), with operating profit at 7.3 billion yen (21.1 billion yen cumulative). • Kakaku.com: Experienced light decrease in both revenue and profit. While the shopping business grew, the personal finance segment saw a decline. • Tabelog: Achieved double-digit growth in both revenue and profit, driven by strong online reservation performance during the year-end peak season. • Kyujin Box: Revenue increased while profit decreased as anticipated, due to brand investments. An agreement was reached with en Inc. to make its “engage” business a subsidiary. • Incubation: Steady growth was seen in LiPLUS, and Time Design maintained solid performance. Full Year Forecast Revenue 92billion yen（+17.3%） Strategic Focus for this fiscal year While profit is expected to decline, we plan to expand investment in Kyujin Box and aim for company-wide revenue growth exceeding recent levels. Operating Profit 28billion yen（- 4.4%） 1
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Kakaku.com, Inc. FY26/3 Q3 Results 2 I. Consolidated Operating Results II. Operating Results by Segment III. Appendix
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Kakaku.com, Inc. FY26/3 Q3 Results 3 FY26/3 Q3 Highlights Consolidated Operating Results (million yen) FY26/3 Q3 YoY Change 9 months YoY Change Full-Year Forecast (progress)Amount % Amount % Revenue 24,030 +3,706 +18.2% 68,891 +12,204 +21.5% 92,000 (74.9%) Operating Profit 7,290 -742 -9.2% 21,133 -933 -4.2% 28,000 (75.5%) OP Margin 30.3% -9.2pt ― 30.7% -8.2pt ― 30.4% (-) Profit Before Income Taxes 7,373 -715 -8.8% 20,927 -1,254 -5.7% 27,700 (75.5%) Profit Attributable to Owners of the Parent Company 5,002 -507 -9.2% 14,369 -729 -4.8% 19,000 (75.6%) EPS (yen) 25.28 -2.58 ― 72.64 -3.74 ― ―
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Kakaku.com, Inc. FY26/3 Q3 Results 4 FY26/3 Q3 Revenue and Income by Segment Consolidated Operating Results FY26/3 Q3 YoY Change 9 months YoY Change Full-Year Forecast (progress)Amount % Amount % Kakaku.com Revenue 5,970 -64 -1.1% 17,555 +330 +1.9% 24,000 (73.1%) Segment Income 3,168 -4 -0.1% 9,311 +1,065 +12.9% 12,800 (72.7%) Tabelog Revenue 10,743 +1,774 +19.8% 29,677 +5,047 +20.5% 39,500 (75.1%) Segment Income 6,168 +1,282 +26.2% 17,028 +3,350 +24.5% 21,800 (78.1%) Kyujin Box Revenue 4,797 +1,357 +39.5% 14,413 +5,306 +58.3% 18,500 (77.9%) Segment Income -501 -1,720 -141.1% -869 -4,552 -123.6% -1,500 (58.0%) Incubation Revenue 2,520 +639 +33.9% 7,246 -1,521 +26.6% 10,200 (71.0%) Segment Income 829 +456 +122.1% 1,940 +687 +54.9% 2,700 (71.8%) Adjustment of Segment Income* -2,374 -756 -46.7% -6,276 -1,484 -31.0% -7,800 (80.5%) ＊Adjustment of Segment Income includes corporate, and company wide-expenses not allocated to each segment. (million yen)
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Kakaku.com, Inc. FY26/3 Q3 Results 5 YoY increase of: Personnel Expenses ¥270 million Outsourcing Expenses ¥391 million YoY increase of: Personnel Expenses ¥756 million Outsourcing Expenses ¥1,261 million YoY increase of: Agency Fees ¥803 million Service Fees, etc. ¥598 million Increase due to brand investment for Kyujin Box (approx. ¥1.5 billion) Increase due to brand investment for Kyujin Box (approx. ¥4.5 billion cumulative) YoY increase of: Agency Fees ¥3,021 million Service Fees, etc. ¥1,589 million FY26/3 Change in Operating Profit (Quarterly and Cumulative) Consolidated Operating Results Q3 Change in Operating Profit (million yen) Q3 Cumulative Change in Operating Profit (million yen)
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Kakaku.com, Inc. FY26/3 Q3 Results 23.0% 22.3% 21.3% 20.5% 21.4% 21.3% 20.8% 6.2% 6.4% 7.5% 8.7% 9.9% 10.2% 9.7% 13.8% 13.5% 14.1% 20.5% 18.3% 22.6% 20.9% 2,448 2,514 2,862 4,467 4,007 5,169 5,023 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY25/3 FY26/3 1,099 1,188 1,527 1,883 2,163 2,341 2,330 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY25/3 FY26/3 4,069 4,151 4,332 4,453 4,695 4,880 4,993 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY25/3 FY26/3 Q3 Results Advertising expenses and agency fees increased primarily due to growth investments in Kyujin Box. Personnel and outsourcing expenses are trending upward but remain stable relative to revenue. Q4 and Full-year Outlook Advertising expenses to increase further in Q4 as we reinforce our planned investments in Kyujin Box and enhance promotion for Tabelog. Agency fees are projected to rise in conjunction with our strategic growth investments for Kyujin Box. 6 Growth investments drive increase in advertising expenses and agency fees ＊For more details on operating cost, please refer to page 24. Consolidated Operating Results Quarterly Trends in Key Operating Expensesand their Ratio to Revenue Advertising Expenses (million yen) Agency Fees (Commissions) (million yen) Personnel/Outsourcing Expenses (million yen)
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Kakaku.com, Inc. FY26/3 Q3 Results 7 I. Consolidated Operating Results II. Operating Results by Segment III. Appendix
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Kakaku.com, Inc. FY26/3 Q3 Results 578 671 938 785 561 632 931 751 767 770 779 809 811 790 241 223 205 275 224 198 192 435 405 385 506 433 428 405 640 635 656 764 740 692 648 1,136 1,054 1,128 1,263 1,132 1,095 956 1,830 1,825 1,951 2,046 1,935 1,892 2,047 5,612 5,580 6,034 6,419 5,836 5,749 5,970 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY25/3 FY26/3 Shopping Personal Finance Telecon Automotive Other Services Insurance 50.9% 39.7% 52.6% 54.3% 53.7% 52.4% 53.1% Q3 Results Shopping: Performance remained strong, driven by increased demand for PCs. Personal Finance: Downward trend due to changes in the external environment, such as rising interest rates. Advertising: Maintained the high performance seen in the previous year. Q4 and Full-year Outlook The overall segment is expected to progress in line with the full-year plan. PC demand is anticipated to continue due to concerns regarding price hikes caused by component shortages. Anticipate continued challenging business environment for personal finance segment. 8 Slight decrease in both revenue and profit 2,859 2,215 3,172 3,488 3,133 3,010 3,168 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY25/3 FY26/3 YoY －1.1% YoY －0.1% * Kakaku.com Quarterly Trends in Revenue and Segment Income (million yen) ＊1 In FY25/3 Q2, impairment losses of 588 million yen were recorded mainly on intangible assets and goodwill related to the busi ness of Pathee Inc.. Excluding this impact, FY25/3 Q2 segment income for Kakaku.com was 2,803 million yen (YoY+9.2%) and income margin was 50.2%. For details, please refer to: 2. Condensed Consolidated Financi al Statements (6) Notes on the Condensed Consolidated Financial Statements in the Consolidated Earnings Report for the Second Quarter (Semi-annual Period) of the Fiscal Year Ending March 31, 2025, issued on Nov . 6, 2024. ＊2 Excluding the impact of the impairment loss recorded in FY25/3 Q2, the segment profit margin for FY26/3 Q2 increased by 7.4%.
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Kakaku.com, Inc. FY26/3 Q3 Results Q3 Results Entering the seasonal peak period, both restaurant promotion and restaurant reservations achieved steady growth. Q4 and Full-year Outlook Revenue is expected to maintain high growth through Q4. Meanwhile, the profit margin is projected to decrease temporarily due to front-loaded investments, including enhanced promotions targeting regional cities. Given the strong progress to date, the segment is expected to achieve its full-year plan. 9 Sustained solid growth led by the reservation business 4,288 4,503 4,886 4,402 5,227 5,633 6,168 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY25/3 FY26/3 56.2% 56.1%54.5% 49.8% 56.5% 58.2% 57.4%YoY ＋19.8% YoY ＋26.2% 12 17 22 25 28 43 40 383 515 517 424 438 480 459 394 399 405 410 405 410 415 3,401 3,532 4,340 4,176 4,405 4,649 5,618 3,441 3,567 3,685 3,808 3,982 4,096 4,211 7,631 8,031 8,969 8,843 9,257 9,677 10,743 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY25/3 FY26/3 Restaurant Promotion Restaurant Advertising User Memberships Advertising Other Tabelog Quarterly Trends in Revenue and Segment Income (million yen)
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Kakaku.com, Inc. FY26/3 Q3 Results 15,100 14,900 17,300 16,200 16,500 16,700 19,100 23.56 23.82 29.60 27.94 29.34 30.11 36.73 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY25/3 FY26/3 75.5 78.5 82.3 84.7 87.4 90.0 93.7 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY25/3 FY26/3 50.2 52.0 54.8 56.0 57.7 60.4 62.9 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY25/3 FY26/3 23,000 23,000 22,800 23,000 23,100 22,800 22,700 Q3 Results The number of contracted restaurants for both restaurant advertising and restaurant reservation increased steadily, reaching new record highs. Inbound reservations continued to show robust growth. The daily average number of inbound reservations reached 10,000 in December. Q4 and Full-year Outlook While the seasonal surge in demand seen in Q3 is expected to subside, the growth trend for key KPIs is projected to continue. 10 Key KPIs reach record highs 0.11 0.23 0.39 0.37 0.42 0.58 0.86 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY25/3 FY26/3 Domestic (Res. made on the Japanese Site/App) Inbound (Res. made by Inbound Travelers) Tabelog Quarterly Trends in Key KPIs Restaurant Promotion No. of contracted Restaurants and ARPU (end-of-quarter, thousand restaurants, yen) Restaurant Reservation No. of contracted Restaurants and ARPU (end-of-quarter, thousand restaurants, yen) No. of Online Reservations (quarterly total, million persons) ＊1 The number of fee-paying restaurants is 97,700. Of these, 60,s00 are using both the Restaurant Promotion and the Restaurant Reservation Service. ＊ARPU= 3-month average of, monthly service revenue divided by monthly no. of contracted restaurants.
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Kakaku.com, Inc. FY26/3 Q3 Results 2,706 2,962 3,440 4,256 4,664 4,952 4,797 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY25/3 FY26/3 42.4% 44.4% 35.4% 13.6% 7.6% -14.6% -10.4% Q3 Results Revenue remained solid despite being affected by seasonal market trends and fluctuations in the external environment. Segment loss narrowed on a QoQ basis due to continuing brand investments being concentrated towards the Q4 peak season. Q4 and Full-year Outlook Segment loss is expected to widen in Q4 as we concentrate brand investments to coincide with the period of peak market demand. For the full-year, revenue is growing at a pace that exceeds the initial plan, while segment profit is expected to finish in line with the forecast, despite continuing front-loaded investments. 11 Sustained robust revenue growth 1,148 1,315 1,219 581 356 -724 -501 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY25/3 FY26/3 YoY ＋39.5% YoY －141.1% Kyujin Box Quarterly Trends in Revenue and Segment Income (million yen)
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Kakaku.com, Inc. FY26/3 Q3 Results 10.67 10.98 9.33 11.42 11.66 12.47 11.62 23.15 22.80 20.68 25.75 27.89 29.94 27.60 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY25/3 FY26/3 Monthly Users Monthly Visits (Sessions) 8,600 8,800 10,100 10,900 12,500 13,800 13,300 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY25/3 FY26/3 10.5 11.1 11.4 12.8 12.3 11.8 11.8 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY25/3 FY26/3 Q3 Results Despite the impact of seasonal slow- down in job-seeking needs at year-end and fluctuations in the external environment, the number of monthly users and visits, as well as the number of active accounts expanded year- over-year. Q4 and Full-year Outlook In Q4, which represents the peak demand period for the job market, we will strive to expand major KPIs by driving concentrated promotions and strengthening our sales activities. 12 Continued growth in visits and active accounts Kyujin Box Quarterly Trends in Key KPIs Monthly No. of Users and Visits (quarterly average, million users, million visits) No. of Active Client Accounts (quarterly average) ARPU (Revenue per Active Client Account) (quarterly average, ten thousand yen) ＊Monthly Users: The number of individuals who visited the site within a month, measured by unique browsers. ＊Monthly Visits: The total number of times users visited the service within a month. ＊Active Accounts: The number of accounts that posted at least one paid job listing during the month. Since a single company ma y operate multiple accounts, this figure does not correspond to the number of companies. ＊ARPU: Three-month average of (monthly revenue ÷ monthly active client accounts).
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Kakaku.com, Inc. FY26/3 Q3 Results 296 271 308 293 309 189 167 418 507 461 901 1,235 1,023 1,119 912 1,265 1,328 567 572 550 818 562 562 565 1,765 2,078 1,882 2,230 2,201 2,524 2,520 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY25/3 FY26/3 Real-Estate Travel/Transportation Home Services Other 17.4% 27.5% 19.8% 30.2% 19.1% 27.4% 32.9% Q3 Results LiPLUS in the “Home Services" domain and Time Design in the "Travel" domain grew steadily, leading to an increase in both revenue and profit. Q4 and Full-year Outlook The growth trends in each domain are expected to continue. Full-year revenue and profit are projected to finish generally in line with the initial plan. 13 Growth driven by the “Home Services" and "Travel" domains 307 572 373 673 420 691 829 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY25/3 FY26/3 YoY ＋33.9% YoY ＋122.1% Incubation Quarterly Trends in Revenue and Segment Income (million yen) ＊Starting from FY26/3 Q1, we revised the internal breakdown of the Incubation segment. Revenue from businesses previously disc losed under "Lifestyle & Entertainment" is now aggregated under "Others.“ Accordingly, past figures have been retrospectively adjusted based on the new classification criteria. Furthermore, effective FY26/3 Q2, w e have reclassified the amount of intercompany transaction eliminations, previously included in "Other," by apportioning it to each segment. Accordingly, the figures for FY26/3 Q1 have also been adjusted; however, the impact on the revenue of each segment is immaterial.
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Kakaku.com, Inc. FY26/3 Q3 Results 14 I. Consolidated Operating Results II. Operating Results by Segment III. Appendix
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Kakaku.com, Inc. FY26/3 Q3 Results Appendix 15 1,484 1,492 1,508 1,509 1,577 1,581 1,619 1,651 1,733 1,694 1,716 1,709 1,728 1,731 1,734 1,715 1,776 1,834 1,852 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY22/3 FY23/3 FY24/3 FY25/3 FY26/3 Number of Employees and Breakdown by Age Group and Job Function Breakdown by Job Function Planning and Design of Websites/Services 31% Engineers 28% Sales 23% Breakdown by Age Group 20-29 19% 40 and over 32% Number of Directly Employed Employees (on a consolidated basis, including temporary employees) Breakdown by age group and job function (employees of Kakaku.com, Inc. as of March 2025) 30-39 49%
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Kakaku.com, Inc. FY26/3 Q3 Results Appendix 16 Full-Year Forecast for FY26/3 (for reference) Forecast ForecastForecast 23 25 25 23 25 25 30 46 80 50 FY24/3 FY25/3 FY26/3 28,000 YoY-4.4% H1 H2 H1 H2 OP Margin ＊ For FY25/3, the dividend per share is expected to be 80 yen, consisting of a regular dividend of 50 yen and a special dividend o f 30 yen, with a payout ratio of 78.9%. Excluding the special dividend, the dividend per share is expected to be 50 yen, with a payout ratio of 52.0%. For more details, please refer to the "Notice of Revision to Dividend Forecast for FY March 2025 (Special Dividend)" disclosed on February 6, 2025. Interim Year-End Special Interim Year-End Interim Year-End Payout Ratio 50.9% 78.9% (49.3%) 52.0% Revenue (million yen) Operating Profit (million yen) Dividend* (yen) 92,000 YoY +17.3% 31,435 36,363 43,100 35,493 42,072 48,900 66,928 78,435 FY24/3 FY25/3 FY26/3 11,299 14,034 13,400 14,520 15,259 14,600 25,819 29,293 38.6% 37.3% 30.4% FY24/3 FY25/3 FY26/3
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Kakaku.com, Inc. FY26/3 Q3 Results Appendix 17 Cash Flow FY25/3 Q3 FY26/3 Q3 YoY Change (%) Operating Cash Flow 18,595 14,475 -22.2% Investing Cash Flow -2,400 -10,774 -348.9% Financing Cash Flow -10,942 -17,798 -62.7% Cash and Cash Equivalents at End of Period 42,969 36,793 -14.4% Main Components Operating CF Profit before income taxes 20,927 Decrease in current liabilities -7,692 Decrease in current assets -5,252 Increase in financial liabilities 4,669 Investing CF Payments into time deposits -5,000 Purchase of shares of subsidiaries resulting in change in scope of consolidation -3,715 Financing Cash Flow Dividends paid -15,815 (million yen)
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Kakaku.com, Inc. FY26/3 Q3 Results Appendix 18 Balance Sheet Cash and cash equivalents decreased due to the payment of the year-end dividend in June (55 yen per share, totaling 10.9 billion yen) and the FY26/3 interim dividend in December (25 yen per share, totaling 5.0 billion yen). Goodwill and intangible assets increased primarily due to the acquisition of LiPLUS Holdings, Inc. Assets Liabilities/EquityAssets Liabilities/Equity Cash and cash equivalents 36,793 Other current assets 21,573 Other non-current assets 14,257 Current liabilities 20,013 Non-current liabilities 3,636 Total equity 60,612 Goodwill and other intangible assets 11,638 As of March 31, 2025 (mllion yen) As of December 31, 2025 (million yen) Cash and cash equivalents 50,859 Other current assets 20,681 Other non-current assets 14,757 Current liabilities 27,514 Non-current liabilities 3,856 Total equity 62,134 Goodwill and other intangible assets 7,207
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Kakaku.com, Inc. FY26/3 Q3 Results Appendix FY30/3 Forecast 5-year CAGR Kakaku.com Revenue 27,000 +3% Segment Income 15,000 +5% Tabelog Revenue 54,000 +10% Segment Income 30,000 +11% Kyujin Box Revenue 50,000 +31% Segment Income 15,000 +29% Incubation Revenue 12,000 +9% Segment Income 4,000 +16% 19 Mid-Term Plan (for reference) 5-year CAGR ＋13% Consolidated Mid-Term Plan (million yen) Mid-Term Plan by Segment (million yen) 78,435 143,000 29,293 53,000 FY25/3 FY30/3 Revenue Operating Profit
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Kakaku.com, Inc. FY26/3 Q3 Results Appendix 20 Management Indices and Capital Allocation ROE of 40％ or more、Equity Ratio of 50% or more (Cost of Equity recognized to be around 7-8%) Operating profit margin of 40% or more Actively pursue growth investments, while providing a certain level of shareholder returns. (Shareholder Returns) • Continuously pay dividends (twice a year, payout ratio of 50% or more) • After growth investments, flexibly return surplus funds to shareholders (buybacks, special dividends) (Growth Investments) • Expand business into new areas by leveraging existing business assets • Horizontally expand business into new industries using know-how from existing businesses • Investments in R&D related to advanced technologies Management Indices Capital Allocation
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Kakaku.com, Inc. FY26/3 Q3 Results Appendix 21 Past Results of Financial Indices FY21/3 FY22/3 FY23/3 FY24/3 FY25/3 Capital-to-Asset Ratio *1 66.1% 68.0% 60.9% 61.7% 66.1% ROE *2 26.2% 30.1% 33.7% 36.5% 35.4% EPS (yen) 57.13 69.65 79.39 90.45 101.33 Dividend per share (yen) 40 40 40 46 80 └Ordinary Dividend 40 40 40 46 50 └Special Divided - - - - 30 Total dividend payout (billion yen) 82.4 81.9 81.1 91.7 158.2 Payout ratio 70.0% 57.4% 50.4% 50.9% 78.9% Acquisition cost of treasury stock (billion yen) 0 50 80 60 0 Total return ratio *3 70.0% 92.3% 99.8% 83.8% 78.9% *1 Capital-to-Asset Ratio = Equity attributable to owners of the parent company ÷ total assets × 100 *2 ROE = Profit attributable to owners of the parent company ÷ (Equity attributable to owners of the parent company) x 100 *3 Total Return Ratio = (Total dividend + Acquisition cost of treasury stock) ÷ Profit attributable to owners of the parent company x 100 Acquisition cost of treasury cost does not include fees or other expenses paid to the Tender Order Agent.
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Kakaku.com, Inc. FY26/3 Q3 Results Appendix Main Initiatives Information Security • Countermeasures against cyberattacks • Implementation and testing of incident response plans • Employee training to raise security awareness Privacy Protection • Internal policies established for handling personal information • Employee training to raise awareness of privacy practices • Regular reviews and audits conducted Service Quality Assurance • Policies and guidelines established for website operations • Disclosure and reporting on site management status • Initiatives to ensure advertising quality and acquisition of relevant certifications Promotion of Technological Innovation and R&D for the Advancement of Services • Development of engineering talent • Utilization of generative AI • Sponsorship of industry conferences and membership in security- related organizations Providing Sustainable Services We are committed to strengthening security and protecting our users’ privacy to ensure that they can use our services with confidence, while actively advancing initiatives that enhance the user experience through technological innovation. Currently, we are proactively incorporating cutting-edge technologies—including generative AI—and are engaged in ongoing research and development to deliver innovative services. Main Initiatives Occupational Health and Safety • Health monitoring and stress checks for employees • Enhanced preventive care by in-house occupational physicians • Implementation of disaster preparedness drills Human Resource Development • Expanded training opportunities, including self-directed learning support programs • On-the-job training (OJT) and regular 1on1 sessions to support goal achievement and personal growth Diversity, Equity & Inclusion (DE&I) • Development and enhancement of systems to support balancing work with childcare or nursing care • Promotion of flexible work styles • Initiatives to prevent workplace harassment Developing and Leveraging a Diverse Workforce To continuously expand our business and deliver services that are useful, accessible, and closely aligned with people’s daily lives, we must respond to social and lifestyle changes, uncover new needs and business opportunities, and embrace ongoing transformation and innovation. We believe that achieving this requires a diverse workforce and an environment where everyone can fully realize their potential. 22 Sustainability (Materiality and Main Initiatives
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Kakaku.com, Inc. FY26/3 Q3 Results Appendix Main Initiatives Promoting a More Sustainable and Efficient Society Through IT • Expansion of comprehensive DX (digital transformation) services to address operational challenges in the restaurant industry • Promotion of fintech solutions for the food service sector • Exploration of real-world applications for generative AI Supporting Local Communities Through Owned Media • Provide regional information via Sumaity • Promotion of local tourism through Kinarino and icotto Contributing to a Healthy and Sustainable Society Guided by our mission to “User First to Create New Norms,” we offer internet services across a wide range of areas—including shopping, dining, job search, real estate, and travel—to make everyday life more convenient while continuously addressing various social issues. Through these efforts, we strive to contribute to the realization of a sustainable society. Main Initiatives Addressing Climate Change • Response to TCFD recommendations • Monitoring and reduction of environmental impact at business sites Contributing to a Circular Economy • Providing information on second-hand products and eco/sustainability topics through owned media Promoting biodiversity and sustainable food resources • Assistance with fish population monitoring using environmental DNA • Support for Japanese eel conservation activities Contributing to the Global Environment We believe that sustainable economic growth and a prosperous society are only possible with a healthy global environment. Based on this belief, we have established the Kakaku.com Group Environmental Policy. In addition to addressing the urgent challenge of climate change, we are committed to contributing to environmental sustainability by promoting resource-conscious practices through our services. Main Initiatives Ensuring Effective Corporate Governance • Establishment of the Basic Policy on Corporate Governance • Implementation of a Compliance Program Business Ethics and Human Rights • Development of a compliance framework • Internal whistleblower system • Establishment of a basic policy on customer harassment Risk Management • Development of a risk management system • Fostering a strong risk-aware corporate culture Strengthening Governance We believe that our Group should strive for mutual prosperity with all stakeholders—including shareholders, customers, business partners, employees, and society at large—and that doing so will lead to the continuous enhancement of corporate value. To achieve this, our approach to corporate governance is centered on two pillars: creating socially valuable services and strengthening relationships with stakeholders while enhancing our governance framework. We regard these efforts as a top management priority. Going forward, we will continue to review and improve our governance practices as necessary to ensure their effectiveness, in response to changes in the social environment and legal or regulatory developments. 23 Sustainability (Materiality and Main Initiatives
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Kakaku.com, Inc. FY26/3 Q3 Results Appendix 24 FY22/3 FY23/3 FY24/3 FY25/3 FY26/3 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Consolidated Revenue 11,861 14,053 13,787 14,015 14,225 16,321 16,259 15,362 16,073 17,244 18,249 17,713 18,650 20,324 21,748 21,958 22,903 24,030 Kakaku.com 5,764 5,967 6,244 5,669 5,397 6,655 5,870 5,176 5,108 5,512 5,930 5,612 5,580 6,034 6,419 5,836 5,749 5,970 Tabelog 3,565 5,308 4,253 5,373 5,448 6,291 6,269 6,404 6,632 7,415 7,395 7,631 8,031 8,969 8,843 9,257 9,677 10,743 Kyujin Box 1,073 1,234 1,499 1,397 1,460 1,528 1,933 1,985 2,265 2,381 2,717 2,706 2,962 3,440 4,256 4,664 4,952 4,797 Incubation 1,460 1,544 1,792 1,576 1,920 1,847 2,187 1,797 2,069 1,936 2,207 1,765 2,078 1,882 2,230 2,201 2,524 2,520 Consolidated Operating Cost 7,776 8,398 8,428 8,646 8,693 9,311 10,241 10,197 10,015 10,249 10,730 10,740 11,593 12,297 14,618 14,671 16,462 16,760 Advertising Expenses 1,482 1,694 2,047 1,839 1,785 2,137 2,686 2,253 2,127 2,323 2,726 2,448 2,514 2,862 4,467 4,007 5,169 5,023 Commissions 1,610 1,951 1,735 1,900 1,960 2,128 2,214 2,299 2,456 2,592 2,707 2,790 2,978 3,512 3,971 4,301 4,675 4,913 Agency Fees 653 842 731 786 797 885 894 897 970 1,070 1,092 1,099 1,188 1,527 1,883 2,163 2,341 2,330 Service Fees, etc. 957 1,109 1,004 1,114 1,163 1,242 1,320 1,402 1,486 1,521 1,614 1,691 1,790 1,985 2,088 2,138 2,334 2,584 Personnel Expenses 2,645 2,610 2,573 2,802 2,822 2,830 2,763 3,105 3,013 2,937 2,873 3,056 3,041 3,060 3,053 3,269 3,314 3,330 Outsourcing 863 856 916 842 923 910 1,097 1,124 1,124 1,003 1,091 1,013 1,109 1,272 1,400 1,427 1,565 1,663 Rent 352 351 350 354 356 363 362 355 346 343 341 341 343 352 345 363 369 366 Depreciation 461 463 456 464 474 492 523 547 533 507 519 535 570 571 584 636 651 672 Other 362 473 351 444 374 452 597 513 416 544 473 556 1,037 667 797 668 688 792 Consolidated Operating Profit 4,109 5,662 5,364 5,374 5,533 7,012 6,029 5,171 6,128 7,000 7,520 6,977 7,057 8,032 7,228 7,288 6,555 7,290 Kakaku.com - - - - - - - 2,565 2,567 2,916 3,202 2,859 2,215 3,172 3,488 3,133 3,010 3,168 Tabelog - - - - - - - 3,253 3,424 4,094 4,042 4,288 4,503 4,886 4,402 5,227 5,633 6,168 Kyujin Box - - - - - - - 995 1,211 1,113 1,288 1,148 1,315 1,219 581 356 -724 -501 Incubation - - - - - - - 206 577 517 660 307 572 373 673 391 720 829 Segment Income Adj. - - - - - - - -1,849 -1,651 -1,640 -1,672 -1,625 -1,549 -1,618 -1,915 -1,819 -2,083 -2,374 Profit Before Income Taxes 4,060 6,786 6,084 5,645 5,685 7,036 4,887 5,296 6,219 6,989 7,617 7,086 7,007 8,088 6,534 7,260 6,294 7,373 Profit Attributable to Owners of the Parent 3,024 4,673 3,846 4,171 3,880 4,784 3,317 3,651 4,265 4,761 5,419 4,824 4,766 5,509 4,934 5,006 4,362 5,002 Quarterly Trend of Revenue and Profit (million yen) ＊Operating profit for FY26/3 Q1 was adjusted to incorporate the effect of the PPA (Purchase Price Allocation) for LiPLUS Holdings Co., Ltd., which became a consolidated subsidiary on April 1, 2025.
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Kakaku.com, Inc. FY26/3 Q3 Results Appendix Business Overview Shopping Refer users to online malls and shops, or manufacturers, by providing information such as product specifications, prices, and supporting the decision-making of users considering to purchase a product. Service Refer users to service providers, by providing information such as service details and fees, and supporting the decision-making of users considering to apply for a service. Advertising Creating and distributing various advertisements, mainly on the Kakaku.com website. Insurance (operating company: Kakaku.com Insurance, Inc.) Solicitation and mediation of life and non-life insurance. Business Model Shopping Durables PCs, home appliances, cameras, etc. Commission income based on clicks and sales performance Clients: online malls and shops, electronics retailers, etc. Consumables furniture, fashion, shoes, accessories, cosmetics, etc. Other water servers, etc. Service Personal Finance credit cards, loans (card loans, mortgages), investments , asset management, FX, etc. Commission income based on applications for various services Clients: service providers Telecom internet providers, overseas Wi-Fi rentals, low-cost SIM cards, etc. Automotive used cars, car insurance, etc. Other Energy (electricity, gas), English courses, etc. Advertising banner ads, tie-in ads, search-based ads, etc. Advertising revenue Clients: manufacturers, service providers, etc. Insurance life insurance: death, medical and cancer insurance, etc. non-life insurance: fire, overseas travel and pet insurance Commission income from life and non-life insurance solicitation and mediation Clients: insurance companies Purchasing Support Site ＊Monthly unique users are counted as the number of browsers that visited the site (for certain browsers, operating systems, etc., there may be instances in which users who re-visited the site after a certain period are counted multiple times). Double-counting as a side effect of high-speed loading of mobile webpages and mechanical accesses by third parties’ web- scraping bots etc. are eliminated to the fullest extent possible. Monthly Users* : 32.69 million (as of December 2025) 25 Kakaku.com (Segment Overview)
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Kakaku.com, Inc. FY26/3 Q3 Results Appendix 26 Revenue 5,764 5,967 6,244 5,669 5,397 6,655 5,870 5,176 5,108 5,512 5,930 5,612 5,580 6,034 6,419 5,836 5,749 5,970 Shopping 2,107 2,184 2,217 2,093 1,888 2,029 2,039 1,886 1,775 1,855 1,926 1,830 1,825 1,951 2,046 1,935 1,892 2,047 Durables 1,429 1,478 1,544 1,473 1,383 1,445 1,494 1,358 1,254 1,333 1,413 1,311 1,289 1,405 1,518 1,430 1,383 1,534 Consumables 579 627 601 537 425 482 415 377 375 403 395 384 388 425 428 405 389 407 Other 99 79 72 82 80 103 130 152 145 119 119 135 149 121 101 100 121 106 Service 2,030 1,811 2,266 1,945 1,890 1,885 2,295 2,017 2,008 2,168 2,632 2,452 2,317 2,375 2,808 2,530 2,413 2,201 Personal Finance 833 765 838 802 814 819 1,002 906 880 1,022 1,198 1,136 1,054 1,128 1,263 1,132 1,095 956 Telecom 465 362 482 383 372 399 503 489 554 560 692 640 635 656 764 740 692 648 Automotive 507 468 580 497 507 473 545 419 400 400 472 435 405 385 506 433 428 405 Other 226 216 366 263 198 193 244 203 175 186 270 241 223 205 275 224 198 192 Advertising 973 1,324 1,081 908 894 1,062 804 639 661 805 655 578 671 938 785 561 632 931 Banner/Tie-In Ads 839 1,183 946 794 804 960 706 559 594 726 595 526 620 883 734 520 585 897 Network Ads 134 140 135 113 90 102 98 80 67 80 60 52 51 55 52 42 48 35 Insurance 654 648 680 723 724 1,680 732 633 664 684 717 751 767 770 779 809 811 790 Segment Income - - - - - - - 2,565 2,567 2,916 3,202 2,859 2,215 3,172 3,488 3,133 3,010 3,168 5,764 5,967 6,244 5,669 5,397 6,655 5,870 5,176 5,108 5,512 5,930 5,612 5,580 6,034 6,419 5,836 5,749 5,970 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY22/3 FY23/3 FY24/3 FY25/3 FY26/3 Kakaku.com (Quarterly Trend of Revenue and Segment Income) (million yen)
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Kakaku.com, Inc. FY26/3 Q3 Results Appendix Business Model Restaurant Advertising Income from fixed monthly fees, based on service provided ¥10,000 / ¥25,000 / ¥50,000 / ¥100,000 Clients: restaurants Restaurant Reservation Income from fees based on number of customer referrals dinner: ¥200/person lunch: ¥100/person Clients: restaurants User Membership Income from user fees for access to premium content Clients: users Advertising Advertising revenues from banner ads, tie-in ads, search- based ads, etc. Clients: manufacturers, service providers, etc. Business Overview Restaurant Promotion Support restaurants to attract customers, through priority display in standard search results in Tabelog, and providing added information, such as photos and descriptions to convey the appeal or specialties of restaurants Restaurant Reservation Online restaurant reservation service. Premium Users Subscription-based service for users, with benefits such as coupons and being able to access rankings based on user-ratings on mobile devices. Advertising Creating and distributing advertisements on Tabelog, targeting users with a high interest in gourmet food. In addition, we provide operational support for restaurants, such as in-store mobile ordering (Tabelog Order),an online reservation ledger (Tabelog Note), and a procurement service (Tabelog Shi-ire (“Tabelog Procurement”)). ＊Monthly unique users are counted as the number of browsers that visited the site (for certain browsers, operating systems, etc., there may be instances in which users who re-visited the site after a certain period are counted multiple times). Double-counting as a side effect of high-speed loading of mobile webpages and mechanical accesses by third parties’ web- scraping bots etc. are eliminated to the fullest extent possible. 27 Tabelog (Segment Overview) Restaurant search and reservation service Monthly Users * : 101.75 million users (As of December 2025)
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Kakaku.com, Inc. FY26/3 Q3 Results Appendix 28 Revenue 3,565 5,308 4,253 5,373 5,448 6,291 6,269 6,404 6,632 7,415 7,395 7,631 8,031 8,969 8,843 9,257 9,677 10,743 Restaurant Promotion 2,213 2,812 2,495 2,908 2,996 3,137 3,125 3,091 3,160 3,270 3,363 3,441 3,567 3,685 3,808 3,982 4,096 4,211 Restaurant Reservation 538 1,588 936 1,708 1,620 2,334 2,335 2,588 2,666 3,215 3,165 3,401 3,532 4,340 4,176 4,405 4,649 5,618 User Memberships 375 374 370 369 366 372 390 374 380 390 394 394 399 405 410 405 410 415 Advertising 366 500 422 360 444 448 420 349 424 533 463 383 515 517 424 438 480 459 Income from Commissioned Operations 64 27 23 23 18 2 - - - - - - - - - - - - Other 9 7 7 5 5 3 2 2 3 7 9 12 17 22 25 28 43 40 Segment Income - - - - - - - 3,253 3,424 4,094 4,042 4,288 4,503 4,886 4,402 5,227 5,633 6,168 Rest. Promotion No. of Restaurants (end of quarter) 43,900 44,600 44,300 44,400 45,000 46,100 45,200 45,800 47,300 49,000 49,400 50,200 52,000 54,800 56,000 57,700 60,400 62,900 Rest. Promotion ARPU (end of quarter, yen) 16,700 21,200 18,800 21,900 22,300 22,800 23,000 22,500 22,400 22,600 22,800 23,000 23,000 22,800 23,000 23,100 22,800 22,700 Rest. Reservation No. of Restaurants (end of quarter) 53,000 58,400 59,300 61,000 62,900 62,800 64,000 65,700 68,000 71,100 73,300 75,500 78,500 82,300 84,700 87,400 90,000 93,700 Rest. Reservation ARPU (end of quarter, yen) 3,500 9,000 5,300 9,400 8,700 12,300 12,300 13,300 13,200 15,300 14,600 15,100 14,900 17,300 16,200 16,500 16,700 19,100 Online Reservations (quarterly total, million) 4.17 11.35 7.11 12.24 11.39 16.56 16.55 18.23 18.32 23.07 22.26 23.66 24.05 29.99 28.31 29.76 30.69 37.60 3,565 5,308 4,253 5,373 5,448 6,291 6,269 6,404 6,632 7,415 7,395 7,631 8,031 8,969 8,843 9,257 9,677 10,743 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY22/3 FY23/3 FY24/3 FY25/3 FY26/3 Tabelog(Quarterly Trend of Revenue, Segment Income and Key KPIs) (million yen)
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Kakaku.com, Inc. FY26/3 Q3 Results Appendix Business Overview Provide a comprehensive search engine for job information. Referral of job seekers to job sites and hiring companies, by supporting job seekers to find a job that matches their desired conditions, out of more than 10 million job listings. Includes listings posted on online job boards and companies' recruitment sites, as well as information directly posted by employers on Saiyo Board*. Listings are not limited to a certain area, employment type or job category. How job listings are posted on Kyujin Box • Crawling : Job listings are published by integrating data from job sites and hiring companies. • Saiyo Board : Employers directly submit and post job-related information • Listing Ads (paid) : Preferred display in search results Business Model Kyujin Box Income from commissions based on the number of users referred to job sites and employers’ websites, (i.e. no. of clicks) through paid listing ads*. Clients: job sites (incl. employment agencies and temp staff services), employers (incl. employers using Saiyo Board) ＊Listing job information on Kyujin Box is free of charge. Fees are incurred only when a paid listing ad is clicked (performanc e-based model). ＊Saiyo Board (“Hiring Board”) : A platform designed for companies that do not have their own recruitment website. By simply entering job details into a sta ndardized form, employers can easily create a job page and publish it on Kyujin Box at no cost. When applications are received, employers are notified via email. They can then view applicant details and contact information to proceed with individual interviews and hiring decisions. * A bidding system allows advertisers to adjust their cost-per-click in increments of one yen, from 25 to 1,000 yen. ＊Monthly unique users are counted as the number of browsers that visited the site (for certain browsers, operating systems, etc., there may be instances in which users who re-visited the site after a certain period are counted multiple times). Double-counting as a side effect of high- speed loading of mobile webpages and mechanical accesses by third parties’ web- scraping bots etc. are eliminated to the fullest extent possible. 29 Kyujin Box (Segment Overview) Comprehensive job search service Monthly Users*：11.33 million users (as of December 2025) キュージンカフェの短期キッチンスタッフ KJB CAFE 渋谷カフェのホール・キッチンスタッフ
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Kakaku.com, Inc. FY26/3 Q3 Results Appendix 30 Revenue 1,073 1,234 1,499 1,397 1,460 1,528 1,933 1,985 2,265 2,381 2,717 2,706 2,962 3,440 4,256 4,664 4,952 4,797 Segment Income - - - - - - - 995 1,211 1,113 1,288 1,148 1,315 1,219 581 356 -724 -501 Monthly Users (quarterly average, million users) 7.26 7.13 8.00 8.52 7.97 7.42 8.51 9.10 8.78 8.37 9.81 10.67 10.98 9.33 11.42 11.66 12.47 11.62 Monthly Visits (quarterly average, million visits) - - - - - - - - - - - 23.15 22.80 20.68 25.75 27.89 29.94 27.60 Active Client Accounts (quarterly average) - - - - - - - - - - - 8,600 8,800 10,100 10,900 12,500 13,800 13,300 ARPU (quarterly average, ten thousand yen) - - - - - - - - - - - 10.5 11.1 11.4 12.8 12.3 11.8 11.8 1,073 1,234 1,499 1,397 1,460 1,528 1,933 1,985 2,265 2,381 2,717 2,706 2,962 3,440 4,256 4,664 4,952 4,797 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY22/3 FY23/3 FY24/3 FY25/3 FY26/3 Kyujin Box (Quarterly Trend of Revenue, Segment Income and Key KPIs) (million yen)
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Kakaku.com, Inc. FY26/3 Q3 Results Appendix Real Estate Travel and Transportation Home Services Residential Real Estate Website Dynamic Package Reservation Platform Operating company: Time Design Co., Ltd. Lifestyle Media Online Media for Car Enthusiasts Operating company: webCG, Inc. Price Comparison Service for Highway and Overnight Buses Operating company: LCL, Inc. Comparison Site for the Cheapest Bus, Airline and Bullet Train Tickets Operating company: LCL, Inc. Home Service Matching Platform Operating company: LiPlus Holdings inc. Travel-Review and Comparison Site Online Travel Information and Hotel Reservation Media Search and Comparison of Domestic Accommodations Lifestyle 31 Incubation (Overview of Main Services)
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Kakaku.com, Inc. FY26/3 Q3 Results Appendix 32 Revenue 1,460 1,544 1,792 1,576 1,920 1,847 2,187 1,797 2,069 1,936 2,207 1,765 2,078 1,882 2,230 2,201 2,524 2,520 Real Estate 487 466 658 499 502 523 760 534 548 553 855 567 572 550 818 562 562 565 Travel/Transportation 451 537 550 607 956 815 879 793 1,152 975 1,057 901 1,235 1,023 1,119 912 1,265 1,328 Home Services - - - - - - - - - - - - - - - 418 507 461 Other 523 540 584 470 463 509 547 470 368 408 295 297 271 308 293 309 189 167 Lifestyle/ Entertainment 539 547 589 462 461 511 556 490 368 375 298 320 289 330 320 309 189 167 Other (incl. intercompany offset) -17 -7 -5 8 2 -2 -9 -20 0 33 -3 -24 -18 -22 -27 - - - Segment Income - - - - - - - 206 577 517 660 307 572 373 673 391 720 829 1,460 1,544 1,792 1,576 1,920 1,847 2,187 1,797 2,069 1,936 2,207 1,765 2,078 1,882 2,230 2,201 2,524 2,520 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY22/3 FY23/3 FY24/3 FY25/3 FY26/3 Incubation (Quarterly Trend of Revenue and Segment Income) (million yen) ＊Starting from FY26/3 Q1, we revised the internal breakdown of the Incubation segment. Revenue from businesses previously disc losed under "Lifestyle & Entertainment" is now aggregated under "Others.“ Accordingly, past figures have been retrospectively adjusted based on the new classification criteria. Furthermore, effective FY26/3 Q2, we have reclassified the amount of intercompany transaction eliminations, previously included in "Other," by apportioning it to each segment. Accordingly, the figures for FY26/3 Q1 have also been adjusted; however, the impact on the revenue of each segment is immater ial.
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Kakaku.com, Inc. FY26/3 Q3 Results Company Name Kakaku.com, Inc. Founded December 1997 Capital 916 million yen(as of March 31, 2025) Representative Director Atsuhiro Murakami (President) Address Head Office: Digital Gate Building, 3-5-7 Ebisu-Minami, Shibuya-ku, Tokyo Shibuya Office: Shibuya PARCO DG Bldg., 12-14F, 15-1, Udagawa-cho, Shibuya-ku, Tokyo URL https://corporate.kakaku.com/ Share Listing Prime Market of Tokyo Stock Exchange Securities Code 2371 Related Companies Kakaku.com Insurance, Inc. Time Design Co., Ltd. webCG, Inc. LCL, Inc LiPlus Holdings inc. https://kakakucom-insurance.co.jp/ https://www.timedesign.co.jp/ https://www.webcg.net/ https://www.lclco.com/ https://liplus-s.com/ Contact Form https://corporate.kakaku.com/contact/form_ir 33 Note: Information and projections of future performance contained in this document include the Company’s judgments premised on information available at this time and assumptions concerning uncertainties. They may differ from actual business performance and results due to a variety of factors.