Slides
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Earnings Presentation Q1 2026
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2 Cautionary Note Regarding Forward-Looking Statements and Financial Guidance Disclaimer This presentation contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which involve risks and uncertainties. In some cases, you can identify these statements by forward-looking words such as “expectation,” “forecast,” “anticipation,” “intention,” “plan,” “possibility,” “may,” “will,” “should,” “anticipate,” “could,” “would,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential,” “goal,” “objective,” “seek,” or “continue,” the negative of these terms and other comparable terminology. Forward-looking statements in this presentation may relate to, but are not limited to, expectations of future results of operations or financial performance of the Company, including expectations related to full-year and quarter revenue and Adjusted EBITDA, expectations regarding certain of our key financial and operating metrics, our business and growth strategy, including future product development plans, our market opportunity, the performance of newly launched products and innovations, our technological capabilities, the demand for the Company’s products and services, our expectations and management of future growth and acceleration, and our expectations regarding our industry and traditional banks, as well as assumptions relating to the foregoing. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks and uncertainties include risks related to our ability to manage our growth effectively; our ability to attract new users, retain our active users and expand the scope of our relationship with our active users; our ability to attract new merchants to utilize our services, grow our relationships with our existing merchants, and increase transaction volumes across our payment settlement services; our ability to maintain and expand synergies between our code-based payment settlement services and our credit card payment services; our ability to maintain and strengthen the ecosystem effects of our platform; our alliances with the shareholders of our consolidated subsidiaries and equity-method affiliates; changes in the expansion and development of the cashless payments industry and the digital financial services industry in Japan; our ability to implement pricing strategies and expand our service offerings; our ability to maintain, protect, and enhance our strong and trusted brand; our ability to maintain or improve our technology infrastructure; and the complex and evolving laws and regulations applicable to our business and the banking ecosystem. Further information on these risks and other factors that could affect our financial results are set forth in our filings with the Securities and Exchange Commission, including in our IPO prospectus. Moreover, new risks and uncertainties emerge from time to time, and it is not possible for the Company to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this presentation. These forward-looking statements and financial guidance reflect the Company’s views with respect to future events and operating performance as of the date of this presentation and are based on assumptions and subject to risks and uncertainties. Given these uncertainties, you should not place undue reliance on these forward-looking statements or guidance. Except required by law, the Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise after the date of this presentation. Non-IFRS Financial Measures and Key Metrics This presentation includes financial information prepared in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board (“IFRS”). This presentation also includes non-IFRS financial information, which should be considered supplemental to, not a substitute for, or superior to, the financial measure calculated in accordance with IFRS. Some of the non-IFRS financial measures that are included in this presentation are Adjusted EBITDA and Adjusted EBITDA Margin. We use these non-IFRS financial measures in conjunction with IFRS measures to evaluate our operating performance, formulate business plans, prepare budgets and forecasts, and make strategic decisions, including those relating to operating expenses and the allocation of internal resources. We believe that these non-IFRS financial measures provide useful information to investors, analysts, and others about our business and financial performance, enhance their overall understanding of our performance, and can assist in providing a more consistent and comparable overview of our financial performance across periods. Unaudited Financial Information The selected financial data included in this presentation is based on the Company’s management accounts that have not been audited by independent auditors. Industry and Market Data This presentation may contain information, estimates and other statistical data derived from third-party sources, including research, surveys or studies. Such information involves a number of assumptions and limitations due to the nature of the techniques and methodologies used in market research. The Company has not independently verified such third-party information, and makes no representation or warranty as to the accuracy or completeness of such third-party information. There are a number of limitations related to the use of these non-IFRS financial measures and their nearest IFRS equivalents. For example, the Company’s definitions of non-IFRS financial measures may differ from non-IFRS financial measures used by other companies. For reconciliations to the most directly comparable IFRS measure, see the appendix to this presentation. With regard to forward-looking non-IFRS guidance and targets provided in this presentation, the Company is unable to provide a reconciliation of these forward-looking non-IFRS measures to the most directly comparable IFRS measures without unreasonable efforts. This is because the information needed to reconcile these measures is dependent on future events, many of which the Company is unable to control or predict. Notwithstanding the foregoing, it is important to note that material changes to reconciling items could have a significant effect on future IFRS results. Additionally, this presentation includes key operating metrics that we use to evaluate our operating performance, formulate business plans, and make strategic decisions.
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Earnings Presentation CEO Message
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4 24 37 111.1 FY25 FY26 Q1 Q2 Q3 Q4 (JPY bn) Q1 Q2 Q3 Q4 86 110 380.7 FY25 FY26 Earnings Overview Total Revenue Revenue Less Transaction Cost1 (RLTC) Adjusted EBITDA3 Q1 Q2 Q3 Q4 67 85 296.4 FY25 FY26 Q1 Margin3 (JPY bn) (JPY bn) +27% +26% +59% Q1 Margin2 27% 34%78% 77% 1. Revenue Less Transaction Cost (RLTC) = Total Revenue –(Settlement related cost + Provision for loss allowance + Interest expenses) 2. % of Total Revenue 3. Adjusted EBITDA and Adjusted EBITDA Margin are non-IFRS measures. See the appendix for reconciliations of non-IFRS financial measures to their nearest IFRS equivalents
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5 Our Strategy Remains Unchanged Building Japan’s Leading Digital Finance Platform 1. The services and data shown in gray are general examples of services that fintech companies may provide and data that may be obtainable, and do not imply or guarantee business expansion into these areas 2. The Company announced on June 4, 2026 that it would acquire shares of T&D Financial Life Insurance Company. The share transfer is scheduled to be executed on October 1, 2027, subject to the satisfaction of conditions precedent, including the acquisition of necessary approvals and permits from relevant authorities Payment Customer insights Behavioral Payments SKU Price Freq. Health Weight Borrowings BP Sleep Med. record Interests Subs. Social Ties Social Media Events Area Time Traffic Educ. Skills Purchase Work History Career Age Income Fin. Assets Attributes Assets Social Freq. When Who How Much Where Pref. Residence Family Search Gender Expanding products and customer touchpoints1 Rich data powered by diverse customer touchpoints1
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6 Acquisition of Shares in T&D Financial Life1 1. On June 4, 2026, the Company announced that it would acquire shares of T&D Financial Life Insurance Company. Completion is scheduled for October 1, 2027, subject to obtaining required regulatory approvals and satisfying other conditions precedent 1. Leveraging PayPay’s customer base 2. Enhancing investment performance Add digital life insuranceproducts Improve investment spread Shift from JGBs-centered investment to corporate bonds Add risk assets to a JGB-centric Portfolio Investment products Life & health insurance Low Risk High Risk Low Return High Return Provide investment products bridging banking and securities Deposits Life insurance products Mutual Funds Equities
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7 Stores: Approx. 22,000 Customer Visits: Approx. 20 Million / Day Users: Approx. 75 Million Transactions: Approx. 30 Million / Day Physical Customer Touchpoints Payment Platform User ID Data Points No.1 Retailer 1 2 ✕ 1. SEVEN-ELEVEN JAPAN CO.,LTD. operates the largest number of stores in Japan 2. PayPay processes the highest number of payment transactions in Japan Source: PayPay calculations based on publicly available data, including the Ministry of Economy, Trade and Industry’s release, “2025 Ratio of Cashless Payment Among the Total Amount Paid by Consumers Calculated.” No.1 Payment
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8 Strategic Partners to Enhance the Customer Experience Logistics Store Operations Product Development & Sourcing Membership Platform Sales Promotions 7-Eleven App User ID・Data Points Personalized Marketing UX
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9 Digital Customer Touchpoints Strategic Partners to Enhance the Customer Experience Logistics Store Operations Product Development & Sourcing Membership Platform Sales Promotions 7-Eleven App User ID・Data Points Personalized Marketing UX
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10 AI-Driven Learning Enhancing LTV Inference & Optimization 18 Billion Continuous Real-Time Data Points / Year Long-Term Strategy to Enhance LTV in the AI Era 1. Estimated annual payment-related data volume (including non-PayPay transactions) observable approx. 3 years post-ID integration with SEVEN-ELEVEN JAPAN CO.,LTD. This is a preliminary estimate and does not represent current actuals, future targets, or forecasts 1
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11 Strategy for Global Expansion PayPay’s Entry into the U.S. Market Overseas Convenience Store Operations 11
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12 Targeted Approach to Potential Customers Massive User Base of 75 Million 3,000 out of 3,300 In-Store Items Available for Delivery Delivery Near-Term Growth Driven by Upgrading the Customer Experience Fast Pickup with Pre-Payment Mobile Order
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13 One-Stop Financial Services Platform for a 100-Year Life Major Financial Services1 Savings-oriented insurance2 Protection-type life insurance2 Long-term care insurance / medical insurance Trusts & wealth transfer credit cards, revolving payments, cash advances bank accounts, deposits, transfers, debit cards, mortgage, card loans, education loans, etc. mutual funds, equities, NISA, iDeCo, etc. savings-oriented insurance, annuities, education insurance, Individual pension Insurance, etc. medical, cancer, income protection, term life insurance death protection, whole life insurance long-term care insurance, medical insurance, dementia insurance, etc. Trust services, will & estate services, wealth transfer advisory, etc. Unified ID code-based payments, P2P money transfers, bill payments, utility bills, etc. 0 10 20 30 40 50 60 70 80 90 100 Life Stage 100-Year Life Era: Seamless Financial Services Tailored to Every Life Stage 1. The services shown in gray are general examples of services that fintech companies can provide, and do not imply or guaranteebusiness expansion into these areas 2. On June 4, 2026, the Company announced that it would acquire shares of T&D Financial Life Insurance Company. Completion is scheduled for October 1, 2027, subject to obtaining required regulatory approvals and satisfying other conditions precedent (Age) Birth Primary education Secondary/ Higher education Employment/ Early Career (career-building stage) Marriage/ childbirth/ child-rearing Home purchase/ Asset-building Career Growth/ Wealth Accumulation Pre-retirement/ Second life Travel/ Hobbies/ Community engagement Long-term care/ Medical care/ Health mgmt Inheritance/ Wealth transfer/ End-of-life planning
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14 Cross-sell Expansion Drives ARPU Growth Interest income Financial service Transaction and service income （ARPU/ JPY） Payment 1. ARPU is a proprietary operating metric based on the Company’s management accounts, calculated by dividing total revenue before deduction generated from PayPay users’ increased use of services offered across the Group by PayPay MTU. As a general rule, revenue that is not directly linked to increased use by PayPay users—primarily revenue derived from services provided to corporate customers—is excluded. The ARPU figures and year-on-year changes presented are approximate amounts rounded to the nearest ¥10 620 730 840 990 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 FY2024 FY2025 FY2026FY2023 +110 +110 +150 Management Accounting
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Financial Highlights
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16 FY2026 Q1: Earnings Highlights 1. Adjusted EBITDA and Adjusted EBITDA Margin are non-IFRS measures. See the appendix for reconciliations of non-IFRS financial measures to their nearest IFRS equivalents Consolidated Payment Segment Financial Service Segment Total Revenue +27% YoY Topline Growth Profitability Expansion Adj. EBITDA1 +59% YoY Adj. EBITDA Margin1 34% Beat Guidance FY2026 Full-Year Guidance Raised GMV Growth Driven by operating leverage, etc. Online +44% YoY PayPay Card +28% YoY Revolving + Installment +25% YoY Cash Advance +57% YoY Reward Points Revision GMV Impact & Cost Savings As Expected Bank: Transition to New Management Customer Base Growth Overhauling Next-Gen System Plan Credit Balance Growth 10mn +29％ +37％ Reviewing UI/UX & Strategy YoY YoYMilestone Bank Accounts Securities Accounts Loans (pricing, new products, etc.)
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17 Reward Points Revision FY2026 Q1: Selected Topics Deficit Eliminated JPY 1bn Cost Savings in June 2026 Alone Changes to Other Credit Card Usage on PayPay From June 2026 (Incl. Revenue Deductions) From July 2026 eKYC Expansion 36.1 37.5 38.9 40.6 42.5 Q1 Q2 Q3 Q4 Q1 FY2025 FY2026 QR GMV JPY 15.5tn (FY2025) Other Credit Cards 1.4% 1 2 ~JPY 100mn/month Cost Savings from FY2026 Q31 eKYC-verified Users (mn) 1. Based on current estimates; subject to change based on future conditions
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18 75.9% 77.9% 77.2% 57.4 71.0 88.6 12.6 15.6 22.5 69.1 86.2 109.8 Total Revenue RLTC Margin (% of Total Revenue) Payment Financial Service Elimination (JPY bn) YoY+27% PaymentConsolidated Financial Service FY2024 FY2025 FY2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
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19 17.6% 27.3% 34.1% 12.2 23.5 37.4 Adjusted EBITDA1 (JPY bn) 1. Adjusted EBITDA and Adjusted EBITDA Margin are non-IFRS measures. See the appendix for reconciliations of non-IFRS financial measures to their nearest IFRS equivalents YoY+59% PaymentConsolidated Financial Service FY2024 FY2025 FY2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Adjusted EBITDA Margin1
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20 2.19% 2.20% 2.23% 1.63% 1.62% 1.64% 2.1 2.5 3.0 0.8 1.1 1.4 0.6 0.8 1.0 3.5 4.4 5.4 Operating KPIs | Payment Segment GMV & Take Rate QR PayPay Credit PayPay Card PayPay Balance FY2024 FY2025 FY2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 YoY+30% (JPY tn) YoY+28% YoY+23% Net T/R Gross T/R PaymentConsolidated Financial Service
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21 Operating KPIs | Monthly Transacting Users (MTU) (Quarterly average) Payment Segment Monthly Transaction Frequency per MTU (mn, last month of each relevant period) FY2024 FY2025 FY2026 FY2024 FY2025 FY2026 MTU Payment Segment Monthly GMV per MTU 54% 56% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 41.7 37.8 YoY+10% Active Rate1 33.7 52% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 35 1 8. 0 1 8. 2 1 8. 4 1 8. 6 1 8. 8 1 9. 0 1 9. 2 1 9. 4 1 9. 6 1 9. 8 2 0. 0 2 0. 2 2 0. 4 2 0. 6 2 0. 8 2 1. 0 2 1. 2 2 1. 4 2 1. 6 2 1. 8 2 2. 0 2 2. 2 20 39 43YoY+11% 22 19 1. Calculated by dividing the number of MTU during the last month of each relevant period by the total number of registered users at the end of each relevant period (JPY’000, Quarterly average) PaymentConsolidated Financial Service
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22 Operating KPIs | PayPay Card # of Active Cards Issued Credit Card Financing Balance (JPY bn)(mn) YoY+22% 14.5 17.7Approval Rate EnhancedMultiple Cards Launched Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1End of FY2025 FY2026FY2024 12.0 0 .0 10 0, 00 0. 0 20 0, 00 0. 0 30 0, 00 0. 0 40 0, 00 0. 0 50 0, 00 0. 0 60 0, 00 0. 0 70 0, 00 0. 0 454 573 Installment Cash Advance Revolving Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1End of FY2025 FY2026FY2024 383 PaymentConsolidated Financial Service YoY+26% YoY+57% YoY+25%
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23 NPL Ratio June 2026 Credit Card Receivables JPY1.3T Provision rate: 4% Stage 2 (1-2 months past due3) Operating KPIs | PayPay Card – Credit Quality 1. Calculated by dividing the amount transitioning to Stage 3 receivables during the quarter by Stage 1 receivables at the end of the previous quarter, annualized as the moving sum of delinquency transition rates over the latest four quarters 2. Includes restructured receivables, etc. 3. For cash advance receivables (excluding shopping related), delinquencies of less than one month are also included in Stage 2 Stage 3 (Non-performing: 3+ months past due2) Delinquency Transition Rate1 End of FY2024 FY2025 FY2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2.6% PaymentConsolidated Financial Service 5% Provision rate: 64% 1% Provision rate: 25% Stage 1 (Not overdue) 94% Provision rate: 1% Management Accounting
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24 Operating KPIs | Financial Service Segment (Accounts/ mn) (Accounts/ mn) End of Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 10.2YoY+11% FY2025FY2024 9.2 FY2026 8.2 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 1.82 1.42 End of PayPay IPO YoY+29% 1.18 FY2025FY2024 FY2026 PaymentConsolidated Financial Service # of Securities Accounts # of Bank Deposit Accounts
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25 Operating KPIs | Deposits, Loans, Interest Rate Margin1 (JPY tn) (JPY tn) Deposits Loans Interest Rate Margin FY2024 FY2025 End of 1.90% 1.84% 2.04% 1.84% 1.55% 1.68% 0.07% 0.29% 0.36% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 FY2026 Loan Yield Deposit Yield Interest Rate Margin 0.54 0.70 0.98 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1End of FY2024 FY2025 YoY+37% FY2026 1.33 0.97 0.77 0.70% 6.20% 3.75% Loan Yield3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2.3 2.0 FY2024 YoY+17% End of FY2025 FY2026 1.7 0.07% 0.29% 0.36% Deposit Yield PaymentConsolidated Financial Service NPL2: 0.2% Consumer Business Mortgage 0.07 0.04 0.03 0.20 0.24 0.28 1. Yields presented on this slide are calculated on a simplified basis using the average of the beginning-and end-of-quarter balances. Loan yields are presented net of guarantee fees and other related fees 2. NPL ratio represents claims disclosed under the Financial Reconstruction Act (excluding normal claims) as a percentage of total claims 3. In calculating loan yields by category, the period income figures for Business Loans and Consumer Loans are each based on management accounting data
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26 0.5 2.6 1.8 0.5 0.4 1.2 0.8 3.1Deposits Other liabilities Cash / G’tee deposits Other assets Loans, advances to customers Securities Net assets Borrowings Balance Sheet Net Debt (JPY bn) Equity Ratio Q1 Adj. ROE (annualized) 127 22.5% 7.5% (JPY tn) Total Assets (June 2026) PaymentConsolidated Financial Service FY2026 Q1 Total assets: JPY 5.5tn
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27 FY2026 Guidance 1. Adjusted EBITDA is a non-IFRS measure. See the appendix for reconciliations of non-IFRS financial measures to their nearest IFRSequivalents Full-Year Guidance Raised on Expected Continued Strong Momentum from Q2 Onward PaymentConsolidated Financial Service (JPY bn) FY2026 Q2 FY2026 Full Year Total Revenue 114 – 116 465 – 473 Adjusted EBITDA1 37.5 – 39.5 149.0 – 155.0
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Appendix
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29 Non-IFRS Financial Measures and Reconciliations Adjusted EBITDA & Adjusted EBITDA Margin (JPY mn) FY2025 Q1 FY2026 Q1 Profit for the Period 10,809 19,749 Income Tax Expense 5,050 10,056 Share of Loss of a Joint Venture Accounted for Using the Equity Method 105 60 Depreciation and Amortization 5,729 6,125 Share-based Payment Expenses - 229 Amortization of Contract Cost 386 522 Losses on Disposal of Property and Equipment and Intangible Assets 182 248 Listing-related Expenses 939 27 M&A-related Expenses 274 483 Net Interest Expense (Income) from Corporate Borrowings and Treasury Assets 32 (103) Adjusted EBITDA 23,506 37,395 Total Revenue 86,154 109,788 Adjusted EBITDA Margin 27% 34%
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30 Payment Segment GMV The total of PayPay Balance GMV, PayPay Credit GMV and PayPay Card GMV, excluding the GMV of cancelled transactions PayPay App GMV (or QR GMV) The total of PayPay Balance GMV and PayPay Credit GMV, excluding the GMV of cancelled transactions PayPay Balance GMV GMV of payments made using PayPay Balance, PayPay Debit, PayPay Balance Card, other credit card payment linked to the PayPay app and payments made through other payment services and networks such as Alipay+ and HIVEX® via PayPay code payment, excluding top-ups to PayPay Balance with PayPay Card and excluding the GMV of cancelled transactions PayPay Credit GMV GMV of payments made using PayPay Credit, top-ups to PayPay Balance made using PayPay Card and GMV made by linking a PayPay Card to the PayPay app without linking a PayPay account, excluding the GMV of cancelled transactions PayPay Card GMV GMV of payment made using PayPay Card (physical card), excluding top-ups to PayPay Balance with PayPay Card and excluding the GMV of cancelled transactions Online GMV Excludes GMV from transactions made within e-commerce services operated by LY Corporation (such as Yahoo! Shopping, Yahoo! JAPAN Auctions, Yahoo! JAPAN Flea Market, etc.) (Net) Take Rate Payment Segment’s total revenue divided by Payment Segment GMV Gross Take Rate Payment Segment’s total revenue before deduction divided by Payment Segment GMV PayPay MTU (Monthly Transacting Users) The number of unique users who completed at least one payment per month that contributes to PayPay Balance or PayPay Credit GMV, but excluding P2P (peer-to-peer) money transfers and cancelled transactions. PayPayMTU over a quarterly or annual period represents the figure from the last month in the relevant period Glossary
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31 Active Rate Calculated by dividing the number of MTU during the last month of each relevant period by the total number of registered users at the end of each relevant period Payment Segment Monthly GMV per MTU Calculated by dividing the total Quarterly GMV for PayPay Balance, PayPay Credit, and PayPay Card by the total Quarterly PayPay App MTU Payment Segment Monthly Transaction Frequency per MTU Calculated by dividing the total Quarterly transactions for PayPay Balance, PayPay Credit, and PayPay Card by the total Quarterly PayPay MTU PayPay Card Number of Active Cards Issued The number of the members of PayPay Card, PayPay Credit, and Yahoo! JAPAN Card, excluding members whose accounts have been suspended or who have withdrawn from the service. A single member that has issued multiple PayPay Cards since August 2024 is counted multiple times PayPay Card Financing Balance The total of outstanding revolving payment, installment payment and cash advance balances of PayPay Card at the end of the month of the applicable period PayPay Card Delinquency Transition Rate Calculated by dividing the amount transitioning to Stage 3 receivables during the quarter by Stage 1 receivables at the end of the previous quarter, annualized as the moving sum of delinquency transition rates over the latest four quarters PayPay Card NPL Ratio Calculated by dividing delinquent receivables balance at period-end by receivables balance at period-end PayPay Card Provision Rate Allowance balance at period-end divided by receivables balance at period-end. The provision rate excludes the allowance for doubtful accounts related to unused card credit lines Glossary
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32 Number of PayPay Bank Deposit Accounts The total number of PayPay Bank regular savings accounts as of the end of the month, for both individual and corporate accounts, excluding closed accounts and fixed deposit accounts Number of PayPay Securities Accounts The cumulative total number of PayPay Securities comprehensive securities accounts as of the end of the quarter, excluding the number of closed or frozen securities accounts PayPay Bank Balance of Deposits The sum of demand deposit and time deposit PayPay Bank Balance of Loans The sum of mortgage loans, overdraft and other Adjusted ROE Calculated by dividing profit for the year/period attributable to owners of the parent company (before deferred tax adjustments)1 by average equity attributable to owners of the parent company at the beginning and end of the period Net Debt Calculated by ① Borrowings from LY Corp.2 + ② Deposits (Payment segment) – ③ Cash and cash equivalents (Payment Segment: cash and demand deposits) – ④ Guarantee deposits (Payment Segment: the guarantee deposit balance with PayPay Bank3 is added back) – ⑤ Securities (Payment Segment: government securities) Glossary 1. Results for the three months ended June 30, 2026: JPY 22.7bn 2. As of June 30, 2026: JPY 20.0bn 3. As of June 30, 2026: JPY 208.8bn