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CONFIDENTIAL 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. ©ANYCOLOR, Inc. Financial Results for FY27/4 Q1 September 9, 2026
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 2 Table of Contents 1. Financial Results for FY27/4 Q1 2. Q2 Outlook and Full-Year Forecast for FY27/4 3. Initiatives for Mid-Term Growth 4. Appendix 1： Business Overview 5. Appendix 2： Financials
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 3 Financial Results for FY27/4 Q1
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 4 FY27/4 FY27/4 FY26/4 Million JPY Q1 Results Q1 Outlook Q1 Results YoY comparison Revenue 16,620 15,600 15,768 +5.4% (by business area) Livestreaming 1,444 1,400 1,385 Commerce 11,413 10,800 10,394 Event 1,707 1,400 2,117 Promotion 2,052 2,000 1,866 Other 4 0 7 Operating Profit 6,391 5,690 7,004 -8.8% 営業利益率Margin 38.5% 36.5% 44.4% -6.0pt Net Profit 4,365 3,897 4,884 -10.6% 営業利益率Margin 26.3% 25.0% 31.0% -4.7pt Financial Results for FY27/4 Q1 Livestreaming: ✓ Membership continued to be stable. Super Chat revenue remained unchanged from the previous quarter, while ad revenue declined compared to the previous quarter due to seasonal factors, etc. ✓ YouTube viewing time remained steady as streaming related to NIJISANJI Koshien, participation in game sessions, and other factors in Q1 contributed to the increase in viewing time. Commerce: ✓ The results of large-scale initiatives including anniversary measures, seasonal measures, and event-related measures were in line with the initial estimates. By contrast, a couple of music CDs significantly exceeded initial forecasts. As a result for Commerce as a whole, considerably exceeded the forecast. Event: ✓ NIJISANJI FES 2026 as well as multiple solo performances were held in Q1. All events received responses beyond expectations and revenue exceeded the outlook. Promotion: ✓ Revenue came in line with the initial outlook despite several projects being postponed in July.
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 5 Revenue and Operating Profit (Quarter) 1,191 1,222 1,301 1,341 1,385 1,360 1,454 1,403 1,444 4,628 6,652 7,204 9,358 10,394 6,533 10,743 10,422 11,413 21 1,428 1,129 2,117 511 1,390 69 1,707 1,534 1,782 1,618 2,125 1,866 2,149 2,098 1,761 2,052 61 8 11 18 7 5 9 5 4 7,436 9,906 11,564 13,972 15,768 10,558 15,693 13,662 16,620 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Other Promotion Event Commerce Live streaming Revenue by Business Area Million JPY YoY +5.4% 2,719 4,043 4,204 5,314 7,004 4,069 5,837 3,263 6,391 36.6% 40.8% 36.4% 38.0% 44.4% 38.5% 37.2% 23.9% 38.5% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% 45.0% 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Operating Profit OP Margin YoY -6.0pt Operating Profit Million JPY FY25/4 FY26/4 FY27/4 FY25/4 FY26/4 FY27/4
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 6 685 733 758 802 883 916 956 994 1,085 395 647 282 323 417 447 371 396 445 487 446 297 264 205 323 265 305 343 315 254 138 141 226 253 289 232 273 374 299 1,402 1,461 1,606 2,220 1,807 1,849 2,017 2,817 2,084 18.9% 14.7% 13.9% 15.9% 11.5% 17.5% 12.9% 20.6% 12.5% -30.0% -20.0% -10.0% 0.0% 10.0% 20.0% 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Employee related costs Bonus Office related costs Outsourcing, etc. Other % of Other Cost and SG&A Cost Breakdown (Quarter) 968 1,819 457 3,315 4,402 5,753 6,438 6,958 4,639 7,840 7,582 8,146 43.8% 42.2% 46.3% 44.6% 44.4% 49.8% 46.1% 44.1% 43.9% 50.0% 55.5% 49.0% 0 2,000 4,000 6,000 8,000 10,000 12,000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Valuation loss Direct VC (excl. valuation loss) % of revenue(excl. valuation loss) % of revenue Bonus Direct Variable Costs(1) Million JPY Other Cost and SG&A(2) Million JPY Regarding the ratio of direct variable costs, inventory valuation losses were in line with the forecast at approximately 460 million JPY while the cost ratio increased due to the impact of large-scale events. Other costs and SG&A rose due to continued hiring of employees according to the initial plan, but remained within the planned range. YoY +1.1pt Bonus YoY +4.9pt FY25/4 FY26/4 FY27/4 FY25/4 FY26/4 Notes： 1. Includes fees paid to VTubers, fees paid to various platforms, and manufacturing costs related to merchandise and events 2. Includes employee-related, office-related, outsourcing and other costs allocated to cost of sales FY27/4
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 7 Number of VTubers and ANYCOLOR ID Notes: 1. Although VTuber group “NIJISANJI ID” in Indonesia and VTuber group “NIJISANJI KR” in South Korea were merged into VTuber group “NIJISANJI” on April 15, 2022, they are still excluded above for period comparison. 2. ANYCOLOR ID is required when users use NIJISANJI Official Store and NIJISANJI FAN CLUB or purchase event ticket. Number of VTubers(1) During Q1, there were 2 new debuts from NIJISANJI, and no graduation or debuts from NIJISANJI EN. 131 134 134 135 135 142 144 151 153 34 32 31 35 30 28 28 28 28 165 166 165 170 165 170 172 179 181 0 50 100 150 200 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 NIJISANJI EN NIJISANJI(Japan) FY26/4FY25/4 FY27/4 1,350 1,440 1,550 1,687 1,766 1,852 1,944 2,034 2,106 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Number of ANYCOLOR ID(2) Thousand Accounts FY26/4FY25/4 FY27/4
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 8 279 303 305 322 349 360 377 414 441 50 52 54 58 56 61 61 62 62 105 117 128 134 146 156 163 180 193 20 21 19 18 18 19 20 21 22 454 493 506 532 569 596 621 677 718 0 100 200 300 400 500 600 700 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Corporate Engineer Designer Business Number of Employees As an important growth investment for future business opportunities, continued recruitment activities based on a disciplined hiring plan. FY26/4FY25/4 FY27/4 Note: 1. Including employees and temporary employees VTuber Management New VTuber Planning Content planning Event planning YouTube program planning Media mix planning Corporate Sales Illustration 2D Modeling Studio content production Development of streaming apps 3D Modeling Business administration
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 9 New Debuts New Debuts and Auditions Poppun Parlor In July 2026, former-magical-girl duo made their debut from NIJISANJI VTA skilled singer audition VTA idol audition VTA (Virtual Talent Academy) Audition VTA unique talent audition
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 10 Q1 Key Initiatives (Livestreaming / Event) Livestreaming NIJISANJI Shadowverse Cup 2026 (Shadowverse: Worlds Beyond) NIJISANJI FES 2026 Open Stage Official Live Stream Event NIJISANJI FES 2026 Lauren Iroas 1st LIVE “FACE” Kanae 2nd LIVE solitude Kaida Haru 1st One-Man Live -Sokuseki- Documentary of NIJISANJI 7th Anniversary Speciale 3D Reveal Relay
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 11 Commerce Promotion Identity V × NIJISANJI YOKOHAMA COSMO WORLD × 3SKM PUBG × NIJISANJI Japan Coast Guard × NIJISANJI ChroNoiR 8th ANNIVERSARY Luminous Marriage VOLTACTION 4th Anniversary MECHATU-A 1st Mini Album ”On-Deck!” Q1 Key Initiatives (Commerce / Promotion)
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 12 Q2 Outlook and Full-Year Forecast for FY27/4
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 13 Million JPY FY27/4 Forecasts (No change) FY26/4 Results YoY % Q1 Progress Revenue 56,000 - 60,000 55,682 0.6% - 7.8% 29.7% - 27.7% Operating Profit 18,000 - 20,000 20,173 -10.8% - -0.9% 35.5% - 32.0% Margin 32.1% 33.3% 36.2% -- -- Ordinary Profit 18,000 - 20,000 20,198 -10.9% - -1.0% 35.5% - 31.9% Margin 32.1% 33.3% 36.3% -- -- Net Profit 12,326 - 13,696 14,092 -12.5% - -2.8% 35.4% - 31.9% Margin 22.0% 22.8% 25.3% -- -- Earnings Per Share 205.60 - 228.45 231.61 -- -- Financial Forecasts for FY27/4 (Unchanged) For Q1, maintained steady progress in business performance. Will continue with the planned initiatives to achieve financial forecasts.
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 14 Outlook for FY27/4 Q2 Key Initiatives(1) We expect the following performance outlook and key initiatives for Q2. Q2 Performance Outlook Commerce EventPromotion Note: 1. Only initiatives that are disclosed Arknights: Endfield × NIJISANJI NIJItown 7choume Rakuten Monkeys × NIJISANJI Upcoming Events • 3SKM 1st LIVE “One-Off” • MECHATU-A 1st LIVE “Over Drive!” • Kenmochi Toya Real Solo Live KOKU FES. • Kuzuha One-Man Live "Bloody Alexandrite" Possessive Voice Vol.2 FY27/4 FY26/4 Million JPY Q2 Outlook Q2 Results YoY Revenue 15,000 10,558 +42.1% (by business area) Livestreaming 1,400 1,360 Commerce 10,000 6,533 Event 1,550 511 Promotion 2,050 2,149 Other 0 5 Operating Profit 5,600 4,069 +37.6% Margin 37.3% 38.5% Net Profit 3,835 2,838 +35.1% Margin 25.6% 26.9%
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 15 Stock Repurchase Reason for treasury stock repurchase The Company has long positioned the continuous enhancement of corporate value and the return of profits to shareholders as one of its most important management issues. In accordance with our policy to utilize profits generated from our business in a balanced manner through business expenses and capital expenditures to promote the growth of our VTuber business, returns to shareholders, and the retention of earnings for future investments, the Company has formulated a medium-term capital allocation policy. Based on this policy, in order to improve capital efficiency and enhance returns to shareholders, the Company has decided to repurchase its own shares, taking into consideration its investment capacity, stock price level, market environment, and outlook for its financial condition. Details of the share repurchase • Type of shares acquired: Common stock of the Company • Total number of stocks to be repurchased: Up to 2.80 million stocks (upper limit) (4.67% of the total number of issued shares (excluding treasury stocks)) • Total amount to be paid for repurchase: Up to 7.0 billion JPY (upper limit) • Repurchase period: From September 10, 2026, to April 30, 2027 • Repurchase method: Market purchases on the Toko Stock Exchange
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 16 Initiatives for Mid-Term Growth
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 17 Corporate Philosophy and Long-term Vision “Making VTubers a Culture” After about 10 years since it began, the VTuber market has achieved exponential growth. What we aim to achieve over the next 10 years and beyond is not merely to expand scale. Just like manga and anime, IPs that are the pride of Japan, have become a universal culture popular around the world, transcending generations and borders, VTubers also have clear-cut potential to become a culture that everyone can enjoy as a matter of course. Our vision is literally to “make VTubers a culture.” Toward this goal, we will powerfully promote sustainable improvement in corporate value over the medium- to long-term by solidifying the business foundation without excessively focusing on short-term profits or maintaining the status quo.
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 18 42,877 16,280 55,682 20,173 80,000 26,000 Revenue Operating Profit Revenue Operating Profit Revenue Operating Profit Revenue Operating Profit FY26/4 results FY27/4 forecastFY25/4 results FY29/4 mid-term plan Review of Progress and Mid-Term Management Goals FY26/4 results Background of growth ✓ Developed new fan layers by leveraging the success of new- generation VTubers following the introduction of VTA and their unit performances. ✓ Spendings per fan also grew, as opportunities for VTubers increased in various business areas FY27/4 forecast Current challenges ✓ Need an even more disciplined operation than ever in terms of the frequency of casting VTubers, etc., for sustainable and stable business growth. ✓ Need to acquire new fans and boost the enthusiasm of fans through various content, not limited to livestreaming. FY29/4 mid-term goals Initiatives towards sustainable and stable growth 1. Strengthen content supply structure 2. Expand fan layers by accelerating existing measures 3. Increase the number of people who come in contact with our IP 4. Provide content that responds to diverse demands 5. Develop overseas VTuber market Revenue growth rate 29.9% Revenue growth rate(1) 0.6% Revenue and Operating Profit Unit: Million JPY Notes: 1. Calculated based on projected revenue of 56 billion yen for the fiscal year ending April 2027 FY27/4-FY29/4 revenue CAGR (1) 19.5% 56,000-60,000 18,000-20,000
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 19 Five Initiatives towards Sustainable and Stable Growth Build a solid IP portfolio and aim to achieve sustainable, stable corporate growth by further strengthening the organizational foundation we have structured to date and the various initiatives of NIJISANJI while simultaneously implementing measures in new areas. Core areas (measures for growing the strengths we have built) Growth and new areas (measures for expanding possibilities of our business) Strengthen content supply structure Expand fan layers by accelerating existing measures Increase the number of people who come in contact with our IP Develop overseas VTuber market Provide content that responds to diverse demands • Expand the floor space of the studio • Strengthen hiring • Improve productivity • Further strengthen the development of VTuber units • Increase opportunities for VTubers as a whole to become active at programs and events • Continuously create hit merchandise and increase sales opportunities • Debut new VTubers who can widen the fan base • Enhance non-streaming content such as music • Increase in media exposure • Make a foray into overseas markets with Japanese and foreign VTubers • Strengthen exposure at overseas events • Enhance content such as music and events • Develop products and IP with focus on new demands ✓Aim to increase FY29/4 revenue by 12 to 15 billion JPY from FY26/4 by increasing existing opportunities for VTubers to become active and expanding the fan base ✓Aim to contribute 5 to 8 billion JPY to FY29/4 revenue from newly debuted VTubers during the plan period. ✓Aim to contribute approx. 5 billion JPY in FY29/4 revenue Positioned as upside in the mid-term plan through FY29/4 ✓Positioned as a foundation that supports the company’s activities as a whole Enhancement of organizational foundation
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 20 Penetration Level and Growth Potential of NIJISANJI in Core Customer Generation Ratio of those in the 15-39 age group in Japan who have watched NIJISANJI and the ratio of those who have created ANYCOLOR IDs We aim to achieve medium- to long-term growth through two approaches: increasing NIJISANJI’s recognition by enhancing content that appeals to a wide range of viewers and offering various products that delight fans. Notes: 1. Result of our own survey conducted through outsourcing in February 2025. 2. Estimates from the ratio of respondents to the questionnaire survey who said they have watched streaming, video, etc. Those who have watched livestreaming by VTubers(2): 24% Those who have created ANYCOLOR ID: 5% Those who have never watched livestreaming by VTubers: 76% (potential for development) Those who have watched livestreaming by NIJISANJI (2): 15% Increase the number of people who come in contact with our IP Develop overseas VTuber market Expand fan layers by accelerating existing measures Provide content that responds to diverse demands Population aged 15 to 39 in Japan: 100% 24% 15% 5%
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 21 Enhancement of Content for the Younger Generation FY23/4 FY24/4 FY25/4 FY26/4 24 or younger 25 to 34 35 or older FY23/4 FY24/4 FY25/4 FY26/4 24 or younger 25 to 34 35 or older Number of ANYCOLOR ID (age group)YouTube views (age group) The young generation in their teens up to early twenties, who are our current and future primary customers, enjoy content has been diversifying, and will continue to do so. It is important that we deliver a variety of content, not limited to livestreaming on YouTube, and aim to increase inflow from the younger generation and their retention. The younger generation, in their teens to early twenties, continues to account for the largest share of ANYCOLOR ID holders and is the primary customer generation. Against the backdrop of diversifying ways to enjoy content beyond YouTube, the number of views among the younger generation in their teens and early twenties has remained unchanged. Increase the number of people who come in contact with our IP
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 22 Male 29% Female 71% Merchandise Targeting a Broad Range of Fans Number of ANYCOLOR ID (gender)(1) YouTube viewing time (gender)(2) Notes: 1. Figures as of the end of April 2026 excluding data whose gender is unknown 2. Figures for FY26/4 Male 54% Female 46% There is a 25% difference in the ratio of male users between ANYCOLOR ID and YouTube viewing time We are planning products that capture the demand from various fans, taking into consideration the differences between the demographics of ANYCOLOR ID holders and YouTube viewers Expand fan layers by accelerating existing measures Provide content that responds to diverse demands
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 23 Specific Examples of Initiatives in each Key Area Strengthen content supply structure Expand fan layers by accelerating existing measures Increase the number of people who come in contact with our IP Develop overseas VTuber market Provide content that responds to diverse demands Considering enhancement of functions by expanding studio floor space, aiming to start operations in FY28/4 In January 2026 VOLTACTION×3SKM FUSION LIVE “IMPACT” Expansion of studio floor space Development of units Example of opportunities for all VTubers to excel Scheduled in December 2026 NIJISANJI Girls Idol Festival ~Link the rainbows to find you~ Measures for debuting new VTubers Non-streaming content such as music Holding VTA auditions on a regular basis Released in April 2026 NIJISANJI Calisthenics No. 1 Music production for NIJISANJI EN livestreamer Released in March 2026 Nurturing of BY THE BEAT and music production jointly with Virgin Music Trading card game To be released in the New Year of 2027 Launched a NIJISANJI- themed card game in a joint initiative with TOMY Collaboration with alternative reality game Released in May 2026 Produced content titled PARALLEL CASE: 2434, in collaboration with creator group D4KK Foray abroad by Japanese VTubers Performance in July 2025 VOLTACTION performed on stage at Comic Exhibition 2025 Strengthening hiring of new graduates, training system Strengthening hiring of new graduates. Twenty-nine new graduates joined in April 2026.
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 24 Business Investment and Shareholder Returns Utilize the profits generated from the business while considering the balance between the growth of the VTuber business through business expenses and capital investment, returns to shareholders, and internal reserves for future investment. Utilization of liabilities, etc. Cumulative operating CF through FY29/4 （45 to 50 billion JPY) Investment in organization (operating expense) • Other costs and SG&A are expected to increase approx. 7 billion JPY mainly in the following areas from FY26/4 to FY29/4. ✓ Investment in human resources such as adding staff and an increase in outsourcing budget (FY26/4→FY29/4: up approx. 4 billion JPY) ✓ An increase in office expenses due to enhancement of studio functions (FY26/4→FY29/4: up approx. 1.5 billion JPY) ✓ Further, spending on initiatives towards the 10th anniversary of NIJISANJI Studio-related investment (approx. 4 billion JPY) • Considering expanding the floor space of the current studio and strengthening the functions mainly of the 3D studio. Content development (approx. 1 billion JPY) • Investment in the development of new content, etc. Shareholder return (35 to 45 billion JPY) Possibility of strategic M&A • Shareholder returns through share buybacks. Continuous and stable dividend payments ✓ Continue with the policy of maintaining a payout ratio of 30% or higher (about 15 billion JPY in total for the plan period) ✓ Shareholder returns through flexible share buybacks using surplus funds (We will determine the scale by comprehensively considering the market trend, progress of growth investment and M&As, and the situation of surplus funds. Assuming around 20 to 30 billion JPY in total for the plan period.) • The ratio of direct variable costs is expected to be at a level similar to FY26/4 throughout the plan period. • The ratio of other costs and SG&A is expected to increase due to investment in the organization, etc., as described on the right. We expect an operating margin of 32.5% in FY29/4. • Examine investment targets mainly based on the following perspectives and also consider utilization liabilities in addition to surplus funds for actual implementation. ✓ Acquisition of IP pipelines for which we can utilize our monetization function ✓ Acquisition of functions that promote growth in our IP
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 25 Investment in Organization Focusing on Human Resources In addition to retaining existing employees, we will focus on acquiring specialists who will drive growth and new business areas, as well as building a management foundation that facilitates organizational growthto support the sustainable development of VTuber culture. Strengthening of core areas Strengthening of growth and new areas Enhancement of organizational foundation Pass on the culture to next generation and deepen engagement Acquire and integrate specialized talents who accelerate diversification Build next-generation management foundation Implement the following initiatives to maintain existing IP and retain staff. ✓ Strategically increase hiring of new graduates ✓ Promote inner branding ✓ Reduce the workload of staff by improving efficiency linked to technology investment Implement the following initiatives to promote business in areas such as TCG, music, and overseas. ✓ Hire human resources with specialized skills in growth and new areas ✓ Enhance the structure to support onboarding of new human resources so that they get an early start Implement the following initiatives to adapt to the organizational expansion and to manage risks. ✓ Nurture and hire next-generation leaders ✓ Clearly articulate the organizational culture and, once again, thoroughly ensure compliance
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26CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. Appendix 1： Business Overview
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 27 Who is VTuber (Virtual YouTuber)? Not Anime Character Character ✓ More “human touch” than anime, leveraging motion capture technology ✓ Interactive communication through livestreaming Not Idol Streamer ✓ Performs whatever you want in virtual world ✓ Excludes risks/ scandals related to personal ✓ Diverse and deeper background story of virtual character ✓ Develops business into commerce and tie-up ads as IP character Not YouTuber VTuber × ＝
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 28 Business Overview We are the largest VTuber group in Japan with a wide variety of VTubers active in Japan and overseas, centered on the NIJISANJI project. We are building a unique ecosystem by developing multiple services with livestreaming as a starting point. Commerce Live events Live streaming Promotion (corporate projects) Expanding the fan community Real world connections Improving brand recognition Constructing engagement We are the largest VTuber group in Japan and have developed multiple services anchored by each VTuber.
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 29 VTubers Our Comprehensive Support System for VTuber ◼ In-house production team consider worldview, illustrations and other VTuber concepts ◼ Application from diverse universe of potential streamers ◼ Fostering VTuber who can be active in the mid-long term through the development of streamers’ techniques and mindsets ◼ Support various livestreaming including 2D streaming and high- quality 3D streaming Step 1 Step 2 Step 3 Step 4 Step5 VTuber Concept Audition Livestreaming Tools for StreamersLesson at VTA (1) 3D content creation tool using Oculus Rift ツール 2D content creation tool using iPhone Responsible party: ◼ Debut as a VTuber of NIJISANJI and engage in livestreaming and other activities Debut Notes: 1. At this time, only NIJISANJI (Japan) is implementing the program.
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 30 Our Business Model A few VTubers are selected from approximately 10,000 auditioners and debut after 6-12 months of training. After their debut, we foster a fan community through livestreaming, etc., and build an ecosystem for each VTuber. Selection and training of VTuber candidates through VTA VTA has held auditions on a regular basis since its establishment in June 2021 to secure future NIJISANJI VTuber candidates. Virtual Talent Academy (VTA) Livestreaming Commerce Promotion Event Revenue from sources such as Super Chat(2), YouTube membership(3) and Google AdSense(4) Notes: 1. Percentage of FY26/4 revenue 2. Super Chat is one of the features provided on YouTube livestreams, which allows fans (viewers) to pay to pin their highlighted message in the chat stream so message stands out from the crowd to get VTuber(streamer)’s attention 3. YouTube Channel Memberships are monthly subscriptions which allow users to pay for subscriptions to channels, allowing users to receive members-only features, such as access to exclusive videos, and benefits only available to subscribers 4. Revenue comes from receiving a portion of YouTube ads revenue which Google LLC received Revenue from sales of merchandise and digital content Revenue from ticket sales for events such as NIJISANJI FES and other events Revenue from corporate projects, sponsorship fees, etc. % of Revenue(1) 10% % of Revenue(1) 14% % of Revenue(1) 7% % of Revenue(1) 68%
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 31 NIJISANJI by Business Area Commerce Event Promotion Livestreaming Expanding the fan community Number of YouTube views(1) in FY26/4 6.2 billion times (up 17.3% YoY) Further build-up of enthusiasm Number of event tickets sold(3) in FY26/4 632,000 (up 38.6% YoY) Improvement in brand recognition Number of projects implemented in FY26/4 1,077 (up 8.5% YoY) Constructing engagement Merchandise measures(2) in FY26/4 203 measures (up 6.8% YoY) In addition to debut of new VTubers, we will increase the staff in each area corresponding to the expansion of existing VTubers and promotion of unit production. Notes: 1. Number of YouTube engaged views 2. Number of merchandise planning and voice content measures excluding music CDs and live event Blu-ray discs 3. Number of event tickets excluding Liver Camera tickets
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 32 Large-Scale Measures for NIJISANJI as a Whole Livestreaming 8th with cake！ IMPACT Commerce 7th Anniversary Live Tour COUNTDOWN LIVE Event We are implementing large-scale events for “NIJISANJI” as a whole, which is generating even greater enthusiasm among fans. NIJISANJI Koshien NIJISANJI Academy
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 33 Male 29% Female 71% Gender (1) Age group (1) Note: 1. Breakdown of ANYCOLOR IDs used for content purchases at the NIJISANJI Official Store, NIJISANJI FAN CLUB subscriptions, events ticket purchases, etc. as of the end of April 2026. Diverse Fan base We are building a broad fan base of all genders and ages, especially among young adults and Generation Z. A particular feature of ANYCOLOR is its large female fan base, especially in terms of merchandise purchases. 19 and younger 15% 20-29 57% 30-39 19% 40 and older 10%
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 34 Quarterly Fluctuations in Each Business Model Quarterly revenue fluctuate depending on when events, etc. are held and whether there is a smash hit. More than short-term revenue fluctuations, long-term growth will be achieved by expanding the revenue base through continuous VTuber growth. Continuous VTuber debuts Livestreaming Commerce Promotion Event Note: 1. Revenue from NIJISANJI (Japan) and revenue per VTuber for each quarter starting from Q1 FY21/4 Fluctuates quarterly due to differences in types of merchandise and hits Quarterly fluctuation based on the timing of events which are held Stable progress Seasonal but stable progress Number of VTubers Revenue Per VTuber Revenue Per VTuber Revenue Per VTuber Revenue Per VTuber
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 35 14,164 25,342 31,996 42,877 55,682 0 10,000 20,000 30,000 40,000 50,000 60,000 FY22/4 FY23/4 FY24/4 FY25/4 FY26/4 Summary of Annual Financial Results 4,191 9,410 12,362 16,280 20,173 29.6% 37.1% 38.6% 38.0% 36.2% -2.0% 3.0% 8.0% 13.0% 18.0% 23.0% 28.0% 33.0% 38.0% 43.0% 0 5,000 10,000 15,000 20,000 25,000 30,000 FY22/4 FY23/4 FY24/4 FY25/4 FY26/4 2,793 6,699 8,726 11,511 14,092 19.7% 26.4% 27.3% 26.8% 25.3% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 0 5,000 10,000 15,000 20,000 FY22/4 FY23/4 FY24/4 FY25/4 FY26/4 Revenue Million JPY Operating Profit / Margin Million JPY Net Profit / Margin Million JPY YoY +29.9% YoY +23.9% YoY +22.4%
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 36 Livestreaming Million JPY Event Million JPY Promotion Million JPY Commerce Million JPY 3,710 5,074 4,994 5,056 5,602 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 11,000 12,000 13,000 14,000 15,000 16,000 17,000 18,000 19,000 20,000 21,000 22,000 23,000 24,000 25,000 26,000 27,000 28,000 29,000 30,000 31,000 32,000 33,000 34,000 35,000 36,000 37,000 38,000 39,000 40,000 FY22/4 FY23/4 FY24/4 FY25/4 FY26/4 Revenue by Business Area 7,162 14,247 18,937 27,842 38,092 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 11,000 12,000 13,000 14,000 15,000 16,000 17,000 18,000 19,000 20,000 21,000 22,000 23,000 24,000 25,000 26,000 27,000 28,000 29,000 30,000 31,000 32,000 33,000 34,000 35,000 36,000 37,000 38,000 39,000 40,000 FY22/4 FY23/4 FY24/4 FY25/4 FY26/4 786 1,600 1,907 2,821 4,087 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 11,000 12,000 13,000 14,000 15,000 16,000 17,000 18,000 19,000 20,000 21,000 22,000 23,000 24,000 25,000 26,000 27,000 28,000 29,000 30,000 31,000 32,000 33,000 34,000 35,000 36,000 37,000 38,000 39,000 40,000 FY22/4 FY23/4 FY24/4 FY25/4 FY26/4 2,304 4,049 5,885 7,059 7,874 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 11,000 12,000 13,000 14,000 15,000 16,000 17,000 18,000 19,000 20,000 21,000 22,000 23,000 24,000 25,000 26,000 27,000 28,000 29,000 30,000 31,000 32,000 33,000 34,000 35,000 36,000 37,000 38,000 39,000 40,000 FY22/4 FY23/4 FY24/4 FY25/4 FY26/4 Revenue remained steadily unchanged. While membership and ad revenue have been steady against the backdrop of a growth in the number of views on YouTube, Super Chat has decreased. The number of measures and sales by measure increased backed by the growing popularity of our VTubers and attractiveness of merchandise plans, driving company-wide growth. The number of large-scale events increased year on year and excitement surrounding each event is also expanding, leading to high growth rate. The number of projects and average unit price of projects are rising on the back of increasing VTuber awareness among companies and the outcome of the projects.
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 37 Revenue by Quarter 2,785 3,443 3,931 4,005 5,931 6,042 7,434 5,934 8,948 6,540 7,785 8,722 7,436 9,906 11,564 13,972 15,768 10,558 15,693 13,662 (1,000) 1,000 3,000 5,000 7,000 9,000 11,000 13,000 15,000 17,000 19,000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Quarterly revenue Average quarterly revenue for each fiscal year FY22/4 FY23/4 FY24/4 FY25/4 Amid the upward trend in Commerce sales, driven by the growing popularity of VTubers and the attractiveness of our merchandise initiatives, the product mix features both seasonal and unique items. Combined with significant profit volatility across individual products, it leads to substantial fluctuations in our overall quarterly revenue, largely affected by the volume of Commerce sales. FY26/4 Million JPY
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 38 Debut of New VTubers A wide variety of VTubers debuted, including an all-female band, high school boys, a high school girl duo, and streamer teams in FY26/4. August 2025 Tonight, We Dream with Spinel. （4 females） September 2025 Splare （4 males） January 2026 umyamii （2 females ） April 2026 Y4T4 （4 males and 4 females ） FY23/4 31 new VTubers debuted FY24/4 12 new VTubers debuted FY25/4 19 new VTubers debuted FY26/4 18 new VTubers debuted
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 39 Number of Applicants for the VTA Auditions 28 K 33 K 41 K 46 K FY23/4 FY24/4 FY25/4 FY26/4 Initiatives by VTA (Virtual Talent Academy) Dreamy-cute Liver Audition Virtual Comedy Duo Audition Streamer Audition Kansai area Audition VTA twins/ brothers audition VTA mascot livestreamer audition VTA Regular audition VTA held regular auditions on various themes to expand the market from a long-term perspective to unearth and develop new VTubers who can excel in the medium to long term, resulting in hitting a record high on total number of applicants. Auditions in FY26/4
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 40 Number of VTubers(1) 129 156 158 170 179 FY22/4 FY23/4 FY24/4 FY25/4 FY26/4 Number of VTubers and Revenue Per VTuber 注： 1. From the perspective of comparing each term, VTubers who belong to VTuber groups “NIJISANJI” and “NIJISANJI EN” are included, excluding the members of VTuber group “NIJISANJI ID” in Indonesia and VTuber group “NIJISANJI KR” in South Korea that were merged to “NIJISANJI” in April 15, 2022. 2. Calculated by dividing annual sales by the number of VTubers at the end of the fiscal year Main initiatives in FY26/4 ✓ During FY26/4, there were 18 new debuts, 1 return, and 3 graduations from NIJISANJI, and 7 graduations from NIJISANJI EN, resulting in a net increase of 9 VTubers. ✓ We held a wide variety of VTA auditions multiple times to develop new fan layers and received a cumulative 46,000 applications. 110 162 203 252 311 FY22/4 FY23/4 FY24/4 FY25/4 FY26/4 Revenue per VTuber(2) Million JPY Main initiatives in FY26/4 ✓ We actively utilized the content of VTubers who debuted in recent years. ✓ Enhanced measures to ensure that fans find VTubers attractive, such as by increasing their music activities further. ✓ Enhanced large-scale streaming events and sold associated merchandise. ✓ In addition to IP collaborations, we also carried out related PR streaming and performances to maximize sales per company project.
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 41 20% 15% 1% 5% 25% 4% 4% 1% 24% Debut before FY19/4(54 VTubers) Debut during FY20/4(29 VTubers) Debut during FY21/4(5 VTubers) Debut during FY22/4(18 VTubers) Debut during FY23/4(27 VTubers) Debut during FY24/4(10 VTubers) Debut during FY25/4(18 VTubers) Debut during FY26/4(18 VTubers) Excluded from apportionment Revenue per VTuber for FY26/4 Revenue contribution by debut year(1) FY26/4 revenue 0% 20% 40% 60% 80% 100% 0% 5% 10% 15% 20% 25% 1-5 6-10 11-15 16-20 21-25 26-30 31-35 36-40 41-45 46-50 51-60 61-70 71-80 81-90 91-100 101-179 Revenue ratio Cumulative revenue ratio Revenue contribution per VTuber(1) FY26/4 revenue Average for 1–25 2.0% Average for 26–50 0.5% Average for 51–100 0.2% Notes: 1. FY26/4 revenues from YouTube, NIJISANJI official store, Booth, Shopify, and other wholesale sales and promotional projects under the control of the Business Marketing Section were allocated pro rata to each VTuber. Portions of the aforementioned revenues excluded from the above pro rata allocation include those that cannot be allocated pro rata to individual VTubers, event revenues, and revenues from VTubers operating in Indonesia and South Korea. FY26/4 Revenue: 55.7 bn # of VTuber: 179 The new generation of VTubers, including debuts after FY23/4 when the VTA-driven and unit development strategies were fully implemented, are showing strong growth.
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 42 Source: Anime Industry Report 2025 Summary, The Association of Japanese Animations, Cyberagent, Digital Content Association of Japan, Live streaming Live Event Tie-up Ads Idols / Music Overseas Business Replacement of broader entertainment Internet Distribution (Streaming) 265.5Bn JPY (+6.2%) Live Entertainment (Live) 122.5Bn JPY (+13.3%) Merchandising (Goods) 748.8Bn JPY (+6.8%) TV Domestic music industry 1.5Tn JPY (+6.5%) (3) Domestic Anime industry :1.7Tn JPY (+2.8%)(1) Video ads industry 885.5Bn JPY (+22.2%) (2) Overseas anime industry 2.2Tn JPY (+26.0%) (1) Notes: 1. Anime industry includes each end-user revenue in 2024 for “TV”, “Movie”, “Video”, “Internet Distribution”, “Merchandising”, “Music”, “Overseas”, “Internet Distribution”, “Live Entertainment” 2. Video ads industry TAM was calculated by using the annual advertising costs of video ads in 2025 (Calculation was done by going through interviews with video ads industry-related operators, public information, data which is owned by the researching party and Digital InFact, Inc. and market size refers to ad expenses spent by advertisers) 3. Domestic music industry includes revenue for “Packaged software”, “Network streaming”, “Streaming for feature phone”, “Karaoke”, “Concert entrance”, “Radio and related service” in 2024 Commerce Market Size（YoY%） Market size of related markets Developing a vast market within the entertainment industry by expanding the scope of VTuber activities.
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 43 Business Risks and Measures to Address Risk Risk overview Policy for addressing the risk Human resources risks ◆ Hiring talented people to support business expansion is critical to our continued growth. ◆ There is a possibility that recruitment will not proceed as expected due to factors such as intensifying competition and changing market needs. ◆ There is a possibility of outflow of current employees from the company. ◆ Actively recruit new employees and create a comfortable working environment and human resources system. ◆ Strive to enhance training programs, etc., in addition to training through work, so that employees can fully demonstrate their abilities after being hired. Reliance on popular VTubers ◆ As we develop content and IP services centered on VTubers, there is a structure in which revenue is dependent on the popularity of specific VTubers. ◆ There is a possibility that our business performance will be affected when popular VTubers stop their activities (graduation, retirement, etc.). ◆ While this is an inescapable feature of our business, in reality, our revenue is distributed among a large number of VTuber, and we recognize that the risk of dependence on a specific VTuber is not likely to materialize. ◆ We will address the risk of VTubers moving on to the next stage of their careers by enhancing our support system and by developing a system that can support a wide range of activities as desired by the livestreamers. Reputation risks ◆ In the course of developing content and IP services, there exists the possibility of video streaming or activities that may lead to violations of public order and morals or infringement of intellectual property rights. ◆ There is a possibility that VTuber activities or our reputation may be affected due to scandals of or public outrage against affiliated livestreamers. ◆ Strengthen systems to respond promptly to inappropriate activities and protect against reputation damage, including thorough compliance training for affiliated livestreamers and content management, as well as strengthened internal controls, such as actions based on findings from third parties. Please refer to the Annual Securities Report for other general risks.
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 44 Sustainability Protecting intellectual property Healthy and sustainable activities of streamers Training and discovering streamers Responsible content creation Human rights Employee development Diversity & inclusion Employee engagement Fostering and improving organizational culture Corporate governance Data privacy & security Waste Energy management Improved water impact Responding to defamation issues Talent development Protecting intellectual property ⚫ We have established a Countermeasure Team for Offensive and Defamatory Behavior to appropriately respond to defamatory and offensive actions against VTubers belonging to ANYCOLOR to systematically implement countermeasures against defamatory and offensive actions. ⚫ We have established the Anti-Defamation Study Group with video streaming and posting platform operators, creator-affiliated companies, and experts to share information among stakeholders and make policy proposals to the government. ⚫ As an institution for continuously producing long-term active VTubers, we have been running the Virtual Talent Academy since June 2021, providing training in various skills and expertise to become active as a VTuber. ⚫ After their debut, in addition to daily support by managers, we provide a support system that includes periodic compliance training, a system to subsidize the cost of health checkups, and support for counseling sessions. ⚫ We have many IP rights, including the visuals of our VTubers, and have established Intellectual Property Handling Regulations to appropriately protect these rights. ⚫ We have established a system to detect infringements of our IP by third parties and respond to such infringements in an effective and flexible manner. ⚫ We have established Guidelines for Derivative Works to allow fans to create derivative works using our copyrighted materials within certain limits. Identifying materiality Environment Social Governance ANYCOLOR measures
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 45 Appendix 2：Financials
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 46 Income Statement Notes: 1. Includes fees paid to VTuber, various platform fee, and cost of merchandise and event related sales 2. Includes employee related, office related, outsourcing and other costs allocated to cost of sales FY25/4 FY26/4 FY27/4 Million JPY Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 Q4 Full Year Q1 Revenue 7,436 9,906 11,564 13,972 42,877 15,768 10,558 15,693 13,662 55,682 16,620 YoY Growth (16.9%) 51.5% 48.5% 60.2% 34.0% 112.1% 6.6% 35.7% (2.2%) 29.9% 5.4% Cost of Sales 3,936 5,030 6,425 7,376 22,767 7,768 5,516 8,726 8,806 30,815 9,145 % of Revenue 52.9% 50.8% 55.6% 52.8% 53.1% 49.3% 52.2% 55.6% 64.5% 55.3% 55.0% Direct variable costs (1) 3,315 4,402 5,753 6,438 19,909 6,958 4,639 7,840 7,582 27,019 8,146 % of Revenue 44.6% 44.4% 49.8% 46.1% 46.4% 44.1% 43.9% 50.0% 55.5% 48.5% 49.0% Other cost of sales (2) 621 628 671 938 2,858 810 877 886 1,224 3,796 1,000 % of Revenue 8.4% 6.3% 5.8% 6.7% 6.7% 5.1% 8.3% 5.6% 9.0% 6.8% 6.0% Gross Profit 3,499 4,876 5,139 6,596 20,110 8,001 5,042 6,968 4,856 24,867 7,475 Margin 47.1% 49.2% 44.4% 47.2% 46.9% 50.7% 47.8% 44.4% 35.5% 44.7% 45.0% SG&A 781 833 935 1,281 3,830 997 973 1,131 1,593 4,694 1,084 % of Revenue 10.5% 8.4% 8.1% 9.2% 8.9% 6.3% 9.2% 7.2% 11.7% 8.4% 6.5% Operating Profit 2,719 4,043 4,204 5,314 16,280 7,004 4,069 5,837 3,263 20,173 6,391 Margin 36.6% 40.8% 36.4% 38.0% 38.0% 44.4% 38.5% 37.2% 23.9% 36.2% 38.5% YoY Growth (32.8%) 65.8% 64.3% 60.0% 31.7% 157.6% 0.7% 38.8% (38.6%) 23.9% (8.8%) Ordinary Profit 2,707 4,045 4,179 5,285 16,215 6,999 4,083 5,844 3,272 20,198 6,384 Margin 36.4% 40.8% 36.1% 37.8% 37.8% 44.4% 38.7% 37.2% 24.0% 36.3% 38.4% Profit Before Tax 2,707 4,045 4,179 5,285 16,215 6,999 4,083 5,844 3,272 20,198 6,384 Margin 36.4% 40.8% 36.1% 37.8% 37.8% 44.4% 38.7% 37.2% 24.0% 36.3% 38.4% Net Income 1,879 2,802 2,900 3,929 11,511 4,884 2,838 4,071 2,298 14,092 4,365 Margin 25.3% 28.3% 25.1% 28.1% 26.8% 31.0% 26.9% 25.9% 16.8% 25.3% 26.3% YoY Growth (32.8%) 64.7% 63.8% 59.9% 31.9% 159.9% 1.3% 40.4% (41.5%) 22.4% (10.6%)
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 47 Revenue by Business Area / Group Notes: 1. Includes both domestic and overseas sales generated from the activities of VTubers who belong to NIJISANJI and are active in Japan 2. Includes both domestic and overseas sales generated from the activities of VTubers belonging to NIJISANJI EN 3. Includes China business (including NIJISANJI and NIJISANJI EN's Bilibili distribution etc.), and sales generated from the activities of VTubers who belong to NIJISANJI and are active in South Korea and Indonesia FY25/4 FY26/4 FY27/4 Million JPY Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 Q4 Full Year Q1 NIJISANJI (JP)(1) 6,676 9,109 10,924 13,338 40,047 15,100 10,045 15,268 13,244 53,657 16,044 Livestreaming 976 1,037 1,115 1,147 4,274 1,180 1,186 1,290 1,257 4,913 1,302 Commerce 4,252 6,171 6,827 9,042 26,292 9,978 6,270 10,546 10,223 37,017 11,096 Event 29 242 1,428 1,129 2,829 2,117 511 1,390 69 4,087 1,653 Promotion 1,419 1,659 1,553 2,020 6,651 1,825 2,078 2,042 1,695 7,640 1,994 NIJISANJI EN(2) 682 771 608 597 2,658 647 495 404 401 1,946 554 Livestreaming 200 171 169 183 723 195 164 153 138 649 129 Commerce 374 477 374 308 1,534 410 260 195 197 1,063 312 Event (8) 0 0 0 (8) 0 0 0 0 0 54 Promotion 115 123 65 105 408 41 71 56 66 235 58 Other(3) 78 26 32 36 172 22 18 22 17 79 22 Livestreaming 15 14 18 11 58 10 10 11 9 40 14 Commerce 2 4 3 7 16 6 3 2 2 13 5 Event 0 0 0 0 0 0 0 0 0 0 0 Promotion 0 0 0 0 0 0 0 0 0 0 0 Other 61 8 11 18 99 7 5 9 5 26 4 Total Revenue 7,436 9,906 11,564 13,972 42,877 15,768 10,558 15,693 13,662 55,682 16,620
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 48 COGS and SG&A FY25/4 FY26/4 FY27/4 Million JPY Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 Q4 Full Year Q1 Cost of Sales 3,936 5,030 6,425 7,376 22,767 7,768 5,516 8,726 8,806 30,815 9,145 % of revenue 52.9% 50.8% 55.6% 52.8% 53.1% 49.3% 52.2% 55.6% 64.5% 55.3% 55.0% Direct variable costs 3,315 4,402 5,753 6,438 19,909 6,958 4,639 7,840 7,582 27,019 8,146 % of revenue 44.6% 44.4% 49.8% 46.1% 46.4% 44.1% 43.9% 50.0% 55.5% 48.5% 49.0% Employee related costs 285 306 317 517 1,426 386 400 433 734 1,952 479 Office related costs 136 161 189 221 707 199 208 238 243 888 245 Outsourcing etc. 130 114 104 146 494 138 174 134 167 613 170 Other 70 47 61 54 231 87 95 81 80 342 106 SG&A 781 833 935 1,281 3,830 997 973 1,131 1,593 4,694 1,084 % of revenue 10.5% 8.4% 8.1% 9.2% 8.9% 6.3% 9.2% 7.2% 11.7% 8.4% 6.5% Employee related costs 399 427 441 680 1,947 497 516 523 906 2,442 606 Office related costs 146 162 228 226 762 172 188 206 244 811 201 Outsourcing etc. 167 150 101 177 595 127 131 209 148 616 84 Other 68 94 165 199 526 201 137 192 294 825 193 Total employee related costs 685 733 758 1,197 3,373 883 916 956 1,640 4,395 1,085 % of revenue 9.2% 7.4% 6.6% 8.6% 7.9% 5.6% 8.7% 6.1% 12.0% 7.9% 6.5% Total office related costs 282 323 417 447 1,469 371 396 445 487 1,699 446 % of revenue 3.8% 3.3% 3.6% 3.2% 3.4% 2.4% 3.8% 2.8% 3.6% 3.1% 2.7% Total outsourcing etc. 297 264 205 323 1,089 265 305 343 315 1,229 254 % of revenue 4.0% 2.7% 1.8% 2.3% 2.5% 1.7% 2.9% 2.2% 2.3% 2.2% 1.5% Total other costs 138 141 226 252 757 289 232 273 374 1,168 299 % of revenue 1.9% 1.4% 2.0% 1.8% 1.8% 1.8% 2.2% 1.7% 2.7% 2.1% 1.8%
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 49 Balance Sheet and Cash Flow Statement Balance Sheet Cash Flow Statement Million JPY FY25/4 FY26/4 Cash flow from operating activities 11,184 15,678 Cash flow from investing activities (2,277) (280) Cash flow from financing activities (9,380) (9,166) Net change in cash and cash equivalents (473) 6,232 Cash and cash equivalents at beginning of period 16,291 15,819 Cash and cash equivalents at end of period 15,819 22,050 Million JPY FY25/4 FY26/4 FY27/4 Q1 Current Assets 25,622 32,099 32,427 Cash and Deposits 15,819 22,050 19,365 Accounts Receivables 5,922 5,301 8,244 Inventories 3,609 4,225 4,510 Other 273 522 309 Non-Current Assets 3,522 4,404 4,446 Total Assets 29,144 36,502 36,873 Current Liabilities 7,175 9,539 7,943 Accounts Payables 2,483 1,947 4,365 Income Taxes Payable 3,116 5,112 1,911 Debt 45 0 0 Other 1,532 2,481 1,667 Non-Current Liabilities 0 0 0 Debt 0 0 0 Total Liabilities 7,175 9,539 7,943 Net Assets 21,968 26,963 28,930
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CONFIDENTIAL ©ANYCOLOR, Inc. 本資料は許可なく複製・配布を行わないようお願いいたします。 Information contained in this document is confidential and property. Please do not reproduce or distribute with out permissio n. 50 Disclaimer This material includes forward-looking statements. These forward-looking statements were created based on the information available at the time they were created. They do not guarantee our future results and involve certain risks and uncertainties. Please note that actual results may differ materially from those described in the forward-looking statements due to changes in economic environments or any other factors. ANYCOLOR is not obligated to update or revise any content of the forward-looking statements within this material, even in cases such as where new information becomes available or future events take place. Information contained within this material on other topics besides ANYCOLOR is quoted from published information and other sources. As such, the accuracy, appropriateness, etc. of such information has not been verified, nor do we guarantee them thereof. This material is an English translation of the original Japanese language material and has been prepared solely for referencepurposes. No warranties or assurances are given regarding the accuracy or completeness of this English translation. In the event of any discrepancy between this English translation and the original Japanese language material, the original Japanese language document shall prevail in all respects.