2014.12Q1jp 0903en final · 2014. 9. 8. · 2014 (consolidated from FY2014 Q2) 2. ... Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 35 13 2 1 2 764 705 564 574 660 620 485 452

FY2014 Q1 Financial ResultsSeptember, 2014

Cookpad Inc.

Highlights of FY2014 Q1!■ Both Premium services business and Ad business grew well, 　 Net sales increased by 29.3% y/y, 　 Operating Income increased by 20.2% y/y (Non-consolidated basis) !■ Paid members increased at a steady pace, growing to over 1,400,000 members. !■ Smartphone Ad grew significantly. !■ Focus on EC business. Acquired online shop of clothes, kitchen and tableware “Angers” in August, 2014 (consolidated from FY2014 Q2)

2

Consolidated Business Results

May 1, 2014～July 31, 2014

Major consolidated companies

4

Company Description of business

ALLTHECOOKS, LLCRecipe service in English

COOKPAD SPAIN, S.L.Recipe service in Spanish

DAPUR MASAK PTE. LTD.Recipe service in Indnesian

International

Japan

Company Description of business

Coach United Inc.Market place of private lessons

■ No change from April, 2014

Differences between consolidation/non-consolidation

5

Non-consolidated Operating Income

1,013 million yen

Goodwill amortization109 million yen Other

93 million yen

811 million yen

Consolidated Operating Income

　FY2013 1Q

（Non-consolidated）

FY2014 1Q

（Non-consolidated）

y/y

Net Sales 1,539 1,990 +29.3％

Operating Income 843 1,013 +20.2％

Ordinary Income 827 968 +17.1％

Net Income 517 621 +20.1％

（￥ million）

FY2014 1Q

（Consolidated)

2,052

811

812

446

Summary of Income Statement

6

※1 Started consolidated balance sheet from FY2013 Q2 and started consolidated income statement from FY2013 Q3. ※2 Differences between operating income and ordinary income are mainly from allowance for investment loss.

※2

※1

Operating Income before goodwill amortization

843 1,013 +20.2％ 921

※1

Non-consolidated Business Results

May 1, 2014～July 31, 2014

0

500

1,000

1,500

2,000

2,500

FY2013 1Q FY2014 1Q

35

1 764

660

1,190877

Premium servicesAdvertisingOthers

（￥ million）

1,990+29.3%

Net Sales comparison to past quarter result

　Change Factors

Premium Services

Steady growth of paid members

Advertising Growth of Smartphone ads

OthersBig data for food trend

“Tabemiru” and

Recipe books

8

1,539

Net Sales trend by Business

9

（￥ million）

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q３ Q4 Q1 Q2 Q3 Q４ Q1

35

13

221 764

705

564574660

620485

452420480

390413302354414410

373 1,1901,1141,019956877816775727681638582558542497451402358

Premium servicesAdvertisingOthers

732

865813 851 844

FY2012

972 9731,1031,119

1,259

1,437

1,539

FY2011 FY2013

1,533

1,180

1,587

FY2010

1,9901,834

FY2014

0

200

400

600

800

1,000

FY2013 1Q FY2014 1Q

220

169121

2651

32 136

103

435341

Personnel costsPaid-charge commissionsCloud-service usage feesPromotion feesOthers

SG&A comparison to past quarter result

10

（￥ million）　

Change Factors

Personnel costs

Growing number of employees (132 in Jul. 2013 to 178 in Jul. 2014

17 new graduates in April, 2014）

Paid-charge commissions Increase in paid members

Cloud-service usage fees Stable

Promotion fees Shop affiliates increased

Others Increase various costs due to service expansion

965

673

■ Maintain Operating margin ratio over 50%, although SG&A increased.

SG&A trend

11

（￥million）

0

100

200

300

400

500

600

700

800

900

1,000

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q４ Q1

220

192

180182

169150

132138135133129105116

220

937189

12165

70462613

20172

5147

38363231

2625283428503130

272727

136127

11110710395

8780726757515250

444035 435449364359341365

292281285300265259251262203191174

Personnel costsPaid-charge commissionsCloud-service usage feesPromotion feesOthers

327 330370

565

451 466 482535 522

FY2011 FY2012 FY2013

544 559

656 673

FY2014

733765

FY2010

882

965

Operating Income trend

12

（￥ million）

0

200

400

600

800

1,000

1,200

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

FY2011 FY2012 FY2013 FY2014FY2010

394

470 486

275

386

491 481

569 563

769

691

620

843787

810

1,013935

Business Details - Users

13

The number of monthly users

0.00

5.00

10.00

15.00

20.00

25.00

30.00

35.00

40.00

45.00

Jul Oct Jan Apr Jul Oct Jan Apr Jul

0.450.440.43

0.36

0.310.10

0.961.071.17

1.43

1.482.19

2.553.45

4.28

7.459.01

8.147.54

6.676.53

5.764.97

3.83

19.8817.76

16.5614.2911.00

9.888.706.805.31

16.1815.7315.0215.9514.8114.0613.8814.1712.69

PCSmartphone browsersSmartphone appsFeature phonesOthers

FY2012

（million）

※1 The number of monthly users in counted on either a browser basis or device basis. ※2 New measurement method has applied for smartphone apps usage since July, 2014.

29.4130.90

32.77 34.29

Smartphone users 27.33 million

39.59

FY2013

41.3444.93 million

26.13

y/y +31.1%

44.04

FY2014

※2

※1

More than 1.7 million recipes

14

（million）

1.0

1.1

1.2

1.3

1.4

1.5

1.6

1.7

1.8

Jul Oct Jan Apr Jul Oct Jan Apr Jul

1.271.33

1.381.45

1.511.57

1.631.71

1.78

FY2012

Registerd recipes

FY2013 FY2014

Our principle is “User first”

15From “2nd research of Japanese Customer Satisfaction Index FY2014”

by Service Productivity & Innovation for Growth

■ Ranked as the most satisfied internet service in Japan for second consecutive year.

Premium Servies Business

16

0

200

400

600

800

1,000

1,200

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

1,1901,114

1,019956

877816

775727

681638

582558542497

451402

358

FY2012FY2011

Sales trend　(￥ million）

FY2013

■ Growing to over 1,400,000 members

FY2014FY2010

Paid members

300000.0

600000.0

900000.0

1200000.0

1500000.0

FY2011 FY2012 FY2013FY2014FY2010

0

30,000

60,000

90,000

120,000

150,000

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1FY2011 FY2013

One time effect

Number of paid members

17

■ Steady growth by improving subscription process and shop affiliates.

Incremental increase in number of paid members

FY2012

One time effect

Temporary decreased due to the shift for smartphones

FY2014

Advertising

18

420480

390413

302

452485

620

FY2013 FY2014

Sales trend by products（￥ million）

0

100

200

300

400

500

600

700

800

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q４ Q1

264184

143131

109152

121117102

12672

18

19266266

192163

209

181

1451057687

88

81

61

233254228279341

286218229242265228

311222

Tie-upsBannersNetwork Ads

574 564

660620

485

420452480

390413

302

705

FY2011 FY2012

764

0

50

100

150

200

250

300

350

Q1 Q2 Q3 Q4 Q1

174

FY2013

Smartphone ads

19

■ Smartphone ads grew significantly

Sales of Smartphone ads（￥ million）

FY2014

64

303 million yen

Topics

More focus on EC business

21

■ Having started from the vegetable delivery serves, now we sell a broader range of consumer products to make everyday cooking fun.

Fresh food delivery Cookpad flash sales

Renewed “vegetable delivery service” to “fresh food delivery service”

Opens occasionally

Angers

Online shop of cloths, kitchen and tableware

Table-ware

Kitchen-ware

ClothesVegetable Meet Beverage •••

Acquired online shop “Angers”

22

■ Acquired online shop of clothes, kitchen and tableware “Angers” in August, 2014. ■ Leverage the overlapped customers to growth sales on the own site “Angers”

Malls on internet

The own site “Angers”

Over 40 million usersPercentage of women is more than 80% (Of those, 20s-40s is more than 80%)×

Percentage of women is more than 90% (Of those, 20s-40s is more than 80%)

More growth on own site

“Angers”The own site “Angers”

Malls on internet

“Supermarket Special Offers”

23

■ Deliver special offers from your nearby supermarkets. ■ The market of flyer in newspaper maintains its scale although the newspaper reach has been declining significantly. The needs of “Supermarket special offers” grows up.

!500 billion yen

0

10

20

30

40

50

60

70

80

FY1995 FY2000 FY2005 FY2010

20s30s40s

（%）

The newspaper reach trend

（past 15 years）

The market of flyer in newspaper （past 5 years）

“Supermarket Special Offers”

0

100

200

300

400

500

600

FY2009 FY2010 FY2011 FY2012 FY2013

（￥ bilion）

※1 Feb. 2014, ”Advertising expenses in Japan (FY2013) by DENTSU INC. ※2 Feb. 2011, “Report of survey of national living hours FY2010” by NHK (Japan Broadcasting Corporation)

※1 ※2

Number of registered supermarkets and users

24

.5

1.0

1.5

2.0

2.5

3.0

May Jul Sep Nov Jan Mar May Jul

Registered users

Jul. 2014

over 2.5million

FY2013

（million）

※1 From special offers information service “SHUFUMO” ※2 From the research by New Supermarket Association Japan

Special offers 10,000 retailers

Real-time special offers

6,500 retailers

20,000 Supermarkets in Japan ※2

※1

FY2014

Apr. 2014 4,500 retailers

Registered supermarkets

New trial of “Supermarket Special Offers”

25

■ User can get discount by showing “Supermarket Special Offers” coupon at cashier. !■ The service is available for the shops using “Special offers in real time” especially effective to sell fresh food in real time. !

Redesigned Cookpad logo for Global

26

■ Redesigned Cookpad logo for Global launch began in FY2014. ■ Uppercase to lowercase letters with more casual and friendly tone.

Progress of Global recipe services

27

■ Standardizing Global recipe services to Cookpad brand.

Spain

Indonesia

Make everyday cooking fun

- This document includes some forecasts, which are based on currently available information. It may contain an element of uncertainty. Actual performance data and similar information may differ due to diverse factors. !- We appreciate your understanding. When producing this document, we were careful not to include errors or omissions, but the authenticity and integrity of the information are not guaranteed.