Slides
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Q3 FY2025 Operating Results February 5, 2026 DeNA Co., Ltd.
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22 1. Progress through Q3 FY2025 2. Overview of Each Business 3. Guidance 4. Action to Implement Management that is Conscious of Cost of Capital and Stock Price
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• FY2025 Q3 results: Revenue 31.3 billion yen, IFRS Operating Profit -8.1 billion yen, and Non-GAAP Operating Profit 2.1 billion yen • Revision to Guidance of FY2025 Upward revision to Non-GAAP Operating Profit considering business progress up to Q3, etc. Also, the IFRS Operating Profit reflects an impairment loss of 9.6 billion yen on goodwill related to Allm in Q3 • For the progress of Action to Implement Management that is Conscious of Cost of Capital and Stock Price, including the capital allocation approach, an updated announcement is scheduled within this FY • Based on the outline announced on November 10, 2025, a comprehensive review of capital allocation is being promoted to achieve substantial and structural improvements in capital efficiency. Basic dividend policy will be changed to a DOE-based approach from FY2025 Revenue Operating Profit (IFRS) Operating Profit (Non-GAAP) 3 31.3 billion yen YoY: -33% QoQ: -24% -8.1 billion yen PY Q3: 15.5 billion yen Q2: 11.1 billion yen 2.1 billion yen YoY: -86% QoQ: -81% Q3 FY2025 Highlights
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(billion yen) Q1 Q2 Q3 Q4 Q1 Q2 Q3 QoQ YoY Revenue (IFRS) 34.0 36.3 46.5 47.3 41.7 41.4 31.3 -24% -33% Operating profit (IFRS) 1.9 3.6 15.5 8.0 13.8 11.1 -8.1 - - Operating profit (Non-GAAP) 2.1 4.0 15.5 11.3 12.5 11.3 2.1 -81% -86% Finance income / costs (net) 2.7 -2.1 1.2 -1.2 0.4 0.1 0.6 713% -47% -0.2 0.0 0.4 2.0 1.7 2.6 1.9 -28% 346% Profit before tax 4.5 1.4 17.1 8.8 15.9 13.9 -5.5 - - 3.1 -0.1 12.8 8.4 11.2 11.8 -6.2 - - 27.40 -0.47 114.54 75.75 100.54 106.06 -55.66 - - FY2024 FY2025 Share of profit (loss) of associates accounted for using the equity method Profit for the period attributable to owners of the parent EPS (Yen) 4*For full reconciliation of IFRS to Non-GAAP metrics, the calculation process, Non-GAAP EBITDA, and Sports Business seasonality, please see the reference materials at the end of the presentation. Financial Results Summary*
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(billion yen) Q1 Q2 Q3 Q4 Q1 Q2 Q3 QoQ YoY Revenue 34.0 36.3 46.5 47.3 41.7 41.4 31.3 -24% -33% Game 11.2 11.3 28.0 27.5 18.1 15.4 14.7 -5% -47% Live Streaming 10.2 10.4 10.3 9.6 10.0 10.3 10.1 -2% -2% Sports 10.0 11.5 4.9 4.9 11.4 13.2 3.7 -72% -25% Healthcare & Medical 1.8 2.2 2.4 4.3 1.7 2.0 2.3 15% -3% New Businesses and Others 0.8 0.9 0.9 1.1 0.7 0.6 0.7 15% -26% Adjustments -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 - - FY2025FY2024 5*See slide 14-15 for the seasonality of the Sports Business and status of matches for each quarter. Financial Results Summary: Revenue by Segment*
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(billion yen) Q1 Q2 Q3 Q4 Q1 Q2 Q3 QoQ YoY Operating profit (IFRS) 1.9 3.6 15.5 8.0 13.8 11.1 -8.1 - - Segment profit/loss 2.0 4.0 15.4 11.0 12.5 11.3 2.0 -82% -87% Game 0.9 1.5 18.6 17.6 10.1 7.0 6.3 -10% -66% Live Streaming -0.6 -0.2 0.4 0.2 1.0 1.3 1.0 -18% 146% Sports 3.3 4.1 -2.4 -2.2 4.0 5.0 -3.4 - - Healthcare & Medical -1.4 -1.3 -0.9 -0.1 -1.4 -1.0 -0.2 - - New Businesses and Others -0.3 -0.2 -0.3 -0.3 -0.6 -0.7 -0.7 - - Adjustments -0.0 0.1 -0.1 -4.1 -0.5 -0.3 -1.0 - - Other income 0.2 0.1 0.6 1.3 1.5 0.2 0.1 -50% -83% Other expenses -0.2 -0.6 -0.5 -4.3 -0.2 -0.4 -10.2 - - FY2024 FY2025 6 • In the Healthcare & Medical Business, following the start of this FY, plans have been thoroughly reviewed, especially within the Medical area where prioritization & focus aimed at profitability improvement have been advanced. An impartment loss of 9.6 billion yen related to Allm’s goodwill was recorded under Other Expenses in Q3 Financial Results Summary: Profit/Loss by Segment* *See slide 14-15 for the seasonality of the Sports Business and status of matches for each quarter. Includes non-operating income / expenses and extraordinary income / expenses, excluding finance income / costs under Japanese GA AP (e.g. Sales / retirement of tangible / intangible assets).
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(billion yen) Q1 Q2 Q3 Q4 Q1 Q2 Q3 QoQ YoY Cost of Sales 17.8 18.6 17.2 17.8 16.9 17.7 16.5 -7% -4% Personnel Expenses 2.1 2.1 2.0 1.8 1.8 1.8 1.9 5% -6% Depreciation and amortization 0.9 0.9 0.9 1.1 1.2 1.1 1.2 8% 32% Outsourcing expenses 4.3 4.3 4.2 4.2 3.9 4.3 4.2 -2% -0% Commission fees 6.7 7.1 6.6 6.5 5.7 6.4 5.8 -9% -13% Others 3.8 4.1 3.4 4.2 4.3 4.1 3.4 -19% -2% Selling, general, and administrative expenses 14.2 13.6 13.9 18.5 12.3 12.4 12.8 4% -8% Personnel Expenses 4.5 4.3 4.6 8.3 4.3 4.0 4.3 7% -8% Sales promotion & Advertising expenses 4.1 3.7 3.2 2.9 2.4 2.7 3.2 16% 0% Outsourcing expenses & Commission fees 3.9 4.0 4.2 4.7 3.7 3.8 3.2 -16% -24% Others 1.7 1.7 1.8 2.6 1.9 1.8 2.1 17% 20% Consolidated employee headcount 2,767 2,646 2,636 2,572 2,583 2,547 2,495 -2% -5% FY2024 FY2025 7 Financial Results Summary: Cost and Expense Breakdown
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Game Business Sports Business Healthcare & Medical Business New Businesses and Others Up to Q3 FY2025 Live Streaming Business Game Business Healthcare & Medical Business New Businesses and Others Live Streaming Business Sports & Smart City Business Smart City Related Businesses Others Others From FY2025 Full Year Earnings Report (Scheduled) 8 Segment Updates
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99 1. Progress through Q3 FY2025 2. Overview of Each Business 3. Guidance 4. Action to Implement Management that is Conscious of Cost of Capital and Stock Price
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10 FY2024 FY2025 FY2024 FY2025 Game Business Segment Profit/Loss (billion yen) *Virtual currency consumption refers to the total amount of money spent by users in the form of in -game currency consumption and monthly payments, etc., and the period of aggregation and recognition matches with segment revenue and profit/loss. For Pokémon Trading Card Game Pocket, DeNA is engaged in joint development and live operations with other companies, and recognizes as revenue our portion of compensation, which is the total amount spent by users less the portion for other companies and settlement fees. A lso, as described in the press release of December 9, 2024 titled “DeNA and 5X Conclude Capital & Business Partnership Agreement,” we migrated the service for all titles handled by the DeNA China office t o Tadpole Entertainment Company Limited, etc., and from December 2024 onward the performance of said titles is not included in virtual currency consumption or in segment revenue and profit/loss figures. Virtual Currency Consumption (billion) • Virtual currency consumption of Pokémon Trading Card Game Pocket slightly increased quarter-on-quarter • This title has continued to progress steadily through Q3, consistent with the upper end of the range of the previous earnings guidance • Released the role-playing and social deduction game Fire Emblem Shadows (published by Nintendo; development partnership by DeNA) on September 25, 2025, and EDGE POKER in collaboration with POKER ROOM Inc. on January 27, 2026 Game Business*
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11 Q3 FY2025 Results • Average MAU for Q3 was approx. 28 million, with about 60% of the virtual currency consumption coming from international • New user acquisition remains steady; initiatives, including the updates described below, are being promoted to improve the retention rates of existing users, improving the steadiness of MAU • In-game events, new booster packs, and other updates are continuously released, providing enjoyment to a wide global audience • Subscriptions continue to see steady demand © 2024 Pokémon. © 1995-2024 Nintendo / Creatures Inc. / GAME FREAK inc. © 2024 DeNA Co., Ltd. Pokémon is a registered trademark of Nintendo, Creatures, and GAME FREAK. Screenshots are from a title under development. Release October 30, 2024 Regions 150 countries and regions Supported Languages 9 languages including Japanese and English Partners Sales: The Pokémon Company Development: Creatures Inc. DeNA Co., Ltd. Current Understanding and Future Actions • Celebrating the one-year anniversary of its launch at the end of October 2025, an update has been implemented under the theme of make card collecting more accessible and enjoyable for even more players • Also running multi-layered initiatives, including in-game events and promotions • Through these initiatives, we aim to enhance user retention rate and login frequency, thereby maintaining and growing MAU Game Business: Pokémon Trading Card Game Pocket
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Live Streaming Business Profit/Loss* (billion yen) Live Streaming Business Revenue* (billion yen) • Continued focus on improving profitability since H2 FY2024 and delivered steady results 12 FY2024 FY2025 FY2024 FY2025 Live Streaming Business *The revenue and profit/loss figures for each segment in the breakdown shown above are from management accounting for reference purposes. Definition for aggregation partially updated for costs in Q1 FY2024. Some costs previously included in “Others” are included in the “Pococha” segment from Q1 FY2024. Figures on this slide for “Pococha” and “IRIAM” are for Japan only. Global initiatives for both services, etc. are included in “Others.”
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13 Pococha • Focused on driving measures to maintain and improve excitement of the community, such as promoting initiatives to retain and enhance the usage of both new and core users • Slight decrease in monthly unique paying users (quarterly average) quarter-on-quarter, while succeeding large events in Q3, the number and activity of core users remained stable • Thorough cost control measures, including a review of marketing initiatives and other fixed cost reductions continued from H2 FY2024 onward, improved profitability • Downloads in Japan totaled 7.36 million as of December 2025 IRIAM • DAU (quarterly average) remained at the same level as the record high of the previous quarter, driven by a solid long term user retention rate, brand awareness measures, and growth of the Vtuber market • Monthly unique paying users (quarter average) are stable quarter-on-quarter, and continue aiming to increase revenue and achieve early profitability • Downloads totaled 5.81 million* as of December 2025 *Total downloads of Japan and international Live Streaming Business
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Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 3Q 33 37 1 3 32 35 2 3 31 36 1 FY2023 FY2024 FY2025 *Supplemental information regarding the number of home games (including Climax Series): • Solid performance, particularly for professional baseball, with a year-on-year increase in revenue and profit 14 Sports Business Revenue and Profit/Loss* (billion yen) Q1 – Q3 FY2019 Q1 – Q3 FY2023 Q1 – Q3 FY2022 Q1 – Q3 FY2021 Q1 – Q3 FY2020 Q1 – Q3 FY2024 Q1 – Q3 FY2025 Sports Business
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• Updates to the spectator experience and other initiatives led to the 2025 season’s home game attendance reaching 2.36 million, setting a new team record following the previous season • Various revenues, such as ticket sales, merchandise/food & beverage, sponsorships etc. comprehensively contributed to the year-on-year revenue increase 15 COVID-19 attendance restrictions Yokohama DeNA BayStars Revenue** Sponsorships Merchandise / Food & beverage Ticket sales OtherFrom this point joint operation with stadium following Yokohama Stadium TOB Sports Business *The data is for official home games for the Yokohama DeNA BayStars for each year (including home games held outside Yokohama Stadium). This does not include the attendance for the Climax Series or the Japan Series. **Figures for 2012– 2015 are standalone, and from 2016 onward are consolidated revenue. Results for each year are for the 12-month period from January to December.
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• BASEGATE YOKOHAMA KANNAI* grand opening set for March 19, 2026, and two directly managed facilities scheduled to open within it on the same day • Wonderia Yokohama Supported by Umios**: An immersive experience facility integrating our expertise, know-how & technology cultivated in entertainment. A dedicated app utilizing the gamification concept fostered in the Game Business is also under development • THE LIVE Supported by Daiwa Jisho: Offers not only screening of team home games but also visitor games, as well as basketball, soccer, and music live events generating year-round excitement through live viewing × food & beverage × merchandise 16 *Project being promoted by eight companies, represented by Mitsui Fudosan Co., Ltd., and including Kajima Corporation, Keikyu Corporation, Dai-ichi Life Insurance Company, Limited, Takenaka Corporation, DeNA Co., Ltd., Tokyu Corporation, and Hoshino Resort Co., Ltd. Trademark application is complete for BASEGATE, both text and logo. **Umios in Wonderia Yokohama Supported by Umios refers to Umios Corporation, the new corporate name of Maruha Nichiro Corporation, effective March 2026 Sports & Smart City Initiatives
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• Continued thorough review and promotion of initiatives towards future growth, with prioritization & focus structural optimization particularly in the Medical area • Healthcare & Medical Business: Targeting profitability in FY2026 • To strengthen the corporate infrastructure and accelerate structural reforms, increased the ownership stake in Allm to 95.3% (as of the end of FY2024: 52.3%) 17 Healthcare & Medical Business Revenue (billion yen) Healthcare & Medical Business Profit/Loss (billion yen) FY2024 FY2025 FY2024 FY2025 *The figures shown on this slide are on a management accounting basis, not including asset-related amortization costs, etc., which have begun to be recognized upon completion of PPA, and do not match the segment results. Segments were reorganized from FY2025. Some businesses that were previously included in the Medical Area have been reorganized into Healthcare Area, etc. This reorganization has been applied from Q1 FY2024 and updated in the above chart. Healthcare & Medical Business*
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• Review of portfolio • Consolidation of subsidiaries and bases in response to strategy changes • Pipeline buildup progressing towards next FY, aiming for further contribution • Used in over half of advanced treatment hospitals, and approx. 30% of regional medical care support hospitals, while maintaining high retention rate • Focusing on maximizing business opportunities highly compatible with Join, such as healthcare digital transformation, while promoting further adoption and usage penetration within facilities • Focus on regions and scenarios with high demands for medical resource expansion by local governments, such as large and mass territories like Brazil *Facilities using Join in Japan: FY24Q1 FY24Q2 FY24Q3 FY24Q4 FY25Q1 FY25Q2 FY25Q3 514 523 528 597 601 607 604 18 • Accelerated prioritization & focus this FY, amid business model evolution and changes in the business environment from initial assumptions • Focusing spot contracts specifically on those that contribute to strengthening the three core areas; while Q1- Q3 revenue decreased YoY, significant progress has been made in fixed cost reductions Medical Area Cost Trends (billion yen) Q1 – Q3 FY2024 Q1 – Q3 FY2025 Optimization of non-core businesses Review of global structures Growth investments and others -0.75 -0.17 +0.11 Sales Mix for the Past 12 Months *Reference values of management accounting Healthcare & Medical Business: Medical Area
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Data Health Business • Aims for stable growth by leveraging customer base built during the Data Health plan formulation year, while also promoting cost efficiency • Orders from municipal national heath insurance for FY2025 business already exceeds the orders from the previous year as shown in the chart below 19 Data Use Business • Working to enhance its operational structures to meet diversifying and deepening customer needs and aim for a further step in our growth • Progress is solid, with both revenue and KPIs surpassing the previous year Data Use Revenue Trend (billion yen) FY2023 (Results) FY2024 (Mar. End Results) FY2025 (Dec. End Results) 472 359 365 –Dec. 2024 –Dec. 2025 No. of Clients Overall 62 77 Pharmaceutical Companies, etc. 28 36 Transaction Amount Per Customer (Pharmaceutical Companies, etc.) 43% increase year-on-year KPI: No. of trading companies of 12 month/Average revenue per customer Data Health Revenue Trend (billion yen) KPI: No. of Orders from Municipal National Health Insurance* Data Health plan formulation year * * *Fiscal year here is the customers’ fiscal year. FY2025 business refers to the fiscal year ending in March 2026. Special demands of Data Health formulation year impacted revenue in FY 2023 and partly in H1 FY2024. Data Health plan formulation year Healthcare & Medical Business: Healthcare Area
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• GO: Applied for listing on the Tokyo Stock Exchange on February 2, 2026* • Cygames: Received a dividend of 8.4 billion yen from Cygames in November 2025 • Other updates in FY2025: Transfer all of shares of Mobaoku Co., Ltd. (May 2025) 20 Name Business Details % of voting rights owned Cygames Game planning, development, and Operations 20.0% GO Mobility related businesses, including provision of dispatch system for taxi operators, etc. 25.8% Nintendo Systems Co., Ltd. Development and operations, etc. of systems related to the digital portion of Nintendo Co., Ltd.’s business 20.0% 35 others Equity-Method Affiliate Companies (As of March 31, 2025) Business Overview of GO** No.1*** Taxi App GO In All 47 Prefectures! * Please also refer to Notice Regarding Application for Listing of Shares of a DeNA Equity-Method Affiliate on the Tokyo Stock Exchange released on February 2, 2026 ** Summary of DeNA’s annual securities report for the FY2024 Each period represents a 12-month value from April to March *** Japan domestic downloads of taxi-apps (total value of App Store/Google Play); Source: Sensor Tower, Survey period: October 1, 2020 - June 30, 2025 (million yen) Fiscal year ended March 31, 2024 Fiscal year ended March 31, 2025 Revenue 20,512 27,852 Profit (loss) for the period -4,358 42 Updates in Group Companies
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All-Emplyee Productivity Enhancement (Bottom-up Initiatives) • Pervasive AI integration across all daily operations, including planning, training, incident response, and internal helpdesks • Details: 100 AI Drills (Japanese only: https://fullswing.dena.com/archives/100181/) Productivity Enhancement in Specific Operations (Top-down initiatives in areas with high anticipated AI impact) Development: Full translation to next-gen development where all engineers engage in AI co-creation and direction ‐ Emergence of projects with 95% AI-led development (Devin 80%, Claude Code 15% and human 5%) → Engineers directing AI have achieved 20 times increase in productivity ‐ Engineers transitioning to Architects and Project Managers • Reduction of man-hours by 50-90%: Quality Assurance (QA), Broadcast screening, and specific legal tasks. Expansion of scope to include all operational areas • All-company productivity proceeding steadily • Work produced by the same headcount has significantly increased • Core initiative: Transitioning from increased workload capacity to a shift toward new business 21 Mid to Long Term Growth Centered on AI: Advancement of AI Utilization for Productivity Enhancement *Sample slides image from the Japanese version: 100 AI Drills
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• Prioritization of Conversational AI and Vertical AI as key domains for AI-native new services and businesses • Maximization of Japan and Global business and growth opportunities through frameworks such as DelightX, a U.S. based startup accelerator program specialized in AI 22 AI-Driven Business Creation Across the DeNA Group ■ Businesses within DeNA ■ Initiatives and investments led primarily by Delight Ventures *In Japanese alphabetical order to Consumers to Businesses (SMEs/Enterprises) Business Creation Approach Focus on Conversational AI Vertical AI (Industry × AI) • 10pct. (Hotel × AI) • ABABA (Hiring × AI) • ALGO ARTIS (Social infrastructure × AI) • Anise Health (Mental health × AI) • Coopel (RPA × AI) • Fuse (Hospital × AI) • Genban (Corporate knowledge × AI) • Glidely (Procurement × AI) • Hubbit (Gerontech × AI) • Immedio (Inside sales × AI) • MemoryLab (R&D × AI) • Nalalys (Compliance × AI) • Ocean (Duty-free shopping × AI) • Otomo Health (Hospital CRM × AI) • Partnerprop (PRM × AI) • Route06 (SI×AI) • Sotas (Chemical databases & research × AI) • Tensor Energy (Renewable energy × AI) • THA (CEO × AI) • Leaders AI (Enterprise solutions) • TransN (SI × AI) • VALANCE (Headless ERP × AI) • YOUTRUST (Career × AI) • Zaimo (Business management × AI) • ZENKIGEN (Interviews × AI) • Zooba (IT Ops × AI) • zyoshu (Care coordination × AI) • Smart Shuzen (Building maintenance × AI) • soramed (Surgical operations × AI ) • PrivacyTech (Auditing × AI) • props (Recruitment interviews × AI) • Next Genba (Shop floor documentation × AI) • MonoRevo (Manufacturing processes × AI) • EML (Equipment maintenance × AI) • English Learning • Exam Support • Mystery Games • Matching Services, etc. • Anchi (Digital goods sales ×AI) • ColorSing (Song live streaming ×AI) • Hubbit (Gerontech × AI) • NEIGHBOR (Game × AI) • OSHIAI (Fandom economy × AI) DelightX U.S. based startup accelerator program specialized in AI V-ShIP/M-ShIP Incubation program supporting the Zero-to-One phase of business creation Pure-play Investment via Delight Ventures DeNA Personnel Shift
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2323 1. Progress through Q3 FY2025 2. Overview of Each Business 3. Guidance 4. Action to Implement Management that is Conscious of Cost of Capital and Stock Price
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146.0 20.0 19.3 ～ 154.0 ～ 25.0 ～ 24.3 Revised forecast (B) 146.5 17.0 26.5 0.5 -3.0 7.2 ～ -7.5 ～ -8.0 ～ 2.2 0.3% -15.0% 37.3% ～ -4.9% ～ -32.0% ～ 9.1% Revenue Operating profit (IFRS) Operating profit (Non-GAAP) Previous forecast (August 7, 2025) (A) Percentage change (%) (billion yen) Amount of change (B-A) • In light of recent business performance trends, the guidance has been revised as below • In the results up to Q3, the Game Business performed strongly against the upper limit of the previously announced guidance (guidance range), the Live Streaming Business achieved steady results through operations prioritizing improving profitability, and the Sports Business also performed well • Meanwhile, operating profit (IFRS) takes into account the impact of the aforementioned impairment losses Guidance of FY2025 24
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2525 1. Progress through Q3 FY2025 2. Overview of Each Business 3. Guidance 4. Action to Implement Management that is Conscious of Cost of Capital and Stock Price
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Action to Implement Management that is Conscious of Cost of Capital and Stock Price 26 • Announced the following outline of policy for initiatives aimed at improving Action to Implement Management that is conscious of Cost of Capital and Stock Price on November 10 • Progress on the action, including the capital allocation approach, an announcement is scheduled within this FY • Commitment to Non-GAAP operating profit of 15.0 billion yen for FY2026 remains unchanged Disclosed November 10, 2025
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27 • Based on the outline policy above, a comprehensive review of capital allocationis being promoted to achieve substantial and structural improvements in capital efficiency • With respect to allocating profit to shareholders through dividends, even while it is essential to consider business attributes such as volatility as well as investments toward achieving growth in the medium to long term, in an effort to secure medium to long term support, changes in the basic policy will be made to a DOE-based approach from FY2025 • Share buybacks will be responded with flexibility as one approach to addressing changes in the stock price and business environment, managing capital policies, and returning profits to shareholders Revision of Basic Dividend Policy • While considering the performance of each fiscal year, DeNA sets as a minimum whichever is higher, a consolidated payout ratio of 15% or an annual dividend of 20 yen per share of DeNA’s common stock • Aiming for a consolidated payout ratio of 30% in the future • Change the basic policy to target a DOE (ratio of dividend to equity attributable to owners of parent on a consolidated basis) of approx. 3% • Continue to pay stable dividends Previous Policy New Policy Dividend per share (yen) *Please also refer to Notice Regarding Change in the Basic Policy on Dividends and Revision to Dividend Forecast (Dividend Increase) released on February 5, 2026 Enhancing Shareholder Returns*
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28 Reference Materials ● IFRS to Non-GAAP Reconciliation ● Segment Breakdown ● Results for Past Fiscal Years ● Consolidated Cash Flows ● Consolidated Financial Position
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(billion yen) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Reconciliation of Operating profit (IFRS) to Non-GAAP operating profit Operating profit (IFRS) 1.9 3.6 15.5 8.0 13.8 11.1 -8.1 Accounting adjustments related to seasonality & one-time factors -0.1 -0.1 -0.1 +0.2 -0.2 -0.2 +0.2 One-time expenses and gains relating to acquisitions, business and organizational changes, etc. +0.2 +0.5 +0.1 +3.1 -1.1 +0.4 +10.0 Non-GAAP operating profit 2.1 4.0 15.5 11.3 12.5 11.3 2.1 Profit (loss) from seasonal sports business -3.3 -4.1 +2.4 +2.2 -4.0 -5.0 +3.4 Non-GAAP operating profit excluding Sports -1.2 -0.2 18.0 13.5 8.5 6.3 5.5 (billion yen) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Reconciliation of Operating profit (IFRS) to Non-GAAP EBITDA Operating profit (IFRS) 1.9 3.6 15.5 8.0 13.8 11.1 -8.1 Accounting adjustments related to seasonality & one-time factors -0.1 -0.1 -0.1 +0.2 -0.2 -0.2 +0.2 One-time expenses and gains relating to acquisitions, business and organizational changes, etc. +0.2 +0.5 +0.1 +3.1 -1.1 +0.4 +10.0 Depreciation and amortization +1.2 +1.2 +1.3 +1.5 +1.7 +1.7 +1.8 Retirement / impairment of fixed assets (excl. one-time factors) +0.0 +0.0 +0.1 +0.0 +0.0 +0.2 +0.0 Non-GAAP EBITDA 3.3 5.2 16.9 12.8 14.3 13.2 3.9 FY2025 FY2025 FY2024 FY2024 29 IFRS to Non-GAAP Reconciliation
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* The financial results of the following companies became excluded from segment results in the consolidated income statement as of the timing stated in the parenthesis - Previous Automotive Business: GO Inc. (Q1 FY2020) DeNA SOMPO Mobility Co., Ltd. and DeNA SOMPO Carlife Co., Ltd. (Q1 FY2020) - Live Streaming Business: SHOWROOM Inc. (Q2 FY2020) - Healthcare & Medical Business: PFDeNA Inc. (Q1 FY2020) - New Businesses & Others: Manga Box Co., Ltd. (Q1 FY2021) Mobaoku Co.,Ltd. (Q1 FY2025) 30 Segment Breakdown Segment Business Game Business Japan and international game business Live Streaming Business Japan and International Pococha, IRIAM, etc. Sports Business Baseball, basketball, soccer, etc. Healthcare & Medical Business Health big data related services, Japan and international digital transformation related services New Businesses & Others New Businesses, etc.
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(billion yen) FY2023 FY2024 Revenue 136.7 164.0 Game 54.0 78.1 Live Streaming 42.6 40.6 Sports 27.3 31.3 Healthcare & Medical 10.0 10.8 New Businesses and Others 3.1 3.6 Adjustments -0.1 -0.4 Operating profit -28.3 29.0 Segment profit/loss 0.3 32.4 Game 3.5 38.6 Live Streaming 0.3 -0.2 Sports 2.1 2.8 Healthcare & Medical -3.6 -3.6 New Businesses and Others -1.3 -1.1 Adjustments -0.6 -4.0 Other income 2.0 2.2 Other expenses -30.6 -5.7 31 Results for Past Fiscal Years
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(billion yen) FY2024 Apr-Dec FY2024 FY2025 Apr-Dec Operating cash flow (A) 14.3 39.0 26.1 Profit before tax 23.0 31.8 24.2 Depreciation and amortization 3.7 5.2 5.2 Impairment loss 0.2 4.4 9.9 Share of loss (profit) of associates accounted for using the equity method -0.3 -2.3 -6.3 Decrease (increase) in trade and other current receivables -8.1 -14.5 20.6 Increase (decrease) in trade and other current payables -5.9 2.4 -6.5 Interest and dividends received 1.6 1.6 9.6 Income tax paid and refund 4.4 2.8 -15.6 Others -4.4 7.6 -15.0 Investing cash flow (B) -7.1 -12.3 -7.3 Financing cash flow -5.2 -5.4 -14.2 Proceeds from borrowings, net -1.7 -1.5 -0.9 Cash dividends paid -2.2 -2.2 -7.2 Others -1.3 -1.8 -6.1 FCF ((A)+(B)) 7.2 26.7 18.9 Cash and cash equivalents (Consolidated) 73.7 92.8 97.5 (Non-consolidated basis) 44.1 86.0 90.0 32 Consolidated Cash Flows
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(billion yen) As of Dec. 31, 2024 FY2024 As of Dec. 31, 2025 Current assets 116.7 142.7 126.9 Cash and cash equivalents 73.7 92.8 97.5 Non-current assets 237.3 251.5 248.1 Property and equipment, Investment property, and Right-of-use assets 25.1 32.4 37.0 Goodwill 33.6 30.4 20.7 Intangible assets 19.2 19.9 20.0 Investments accounted for using the equity method 57.4 59.5 55.9 Other non-current financial assets 101.4 108.5 113.7 Total assets 354.0 394.2 375.0 Current liabilities 43.4 88.8 64.7 Borrowings 7.6 31.0 30.7 Non-current liabilities 71.3 52.5 50.6 Borrowings 28.3 5.1 4.5 Equity 239.3 252.9 259.7 Total equity attributable to owners of the parent 229.3 241.7 251.4 Total liabilities and equity 354.0 394.2 375.0 33 Consolidated Financial Position 追加になった投資不動産の 英語表現は短信翻訳を要確認
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We delight people beyond their wildest dreams The information and data contained within this presentation and these presentation materials have been determined based on information available as of February 5, 2026. The company disclaims any obligation to update or revise such information and data, whether as a result of new information, future events or otherwise. In addition, any forward-looking statements contained in this presentation or these presentation materials are based on our opinions and information available as of February 5, 2026, and involve uncertainty. Please be aware that the actual performance data and similar information are subject to influence from diverse factors and may differ from the forecasts presented herein.