BEENOS : Briefing document on the results for 2Q FY2024(English)

FY2024 2Q Financial Results Briefing

BEENOS Group

Mission

BEENOS Groupʼs Mission

Crea%ng the "Next Standard" that will increase the poten%al throughout the world through ambi%on and technology

Global

Commerce

Making products throughout the world available to everyone

	Erasing borders in	Helping Japanese
	the reuse market
Value	Entertainment artists with their
to make products
Cycle	available	global penetration
	and maximize profits
	worldwide

	Assist the growth		Creating standard
	of promising	Other
Incubation	raising services
startups around	Businesses
	the world

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Group Summary

Consolidated	Consolidated OP: 5 Bil JPY
	Midterm Goal:

	GMV
E	- FY2023(Results)：99.9 Bil JPY
-Commerce	- FY2024(Forecast)：115.6Bil JPY
	Operating Income
	- FY2023(Results)：3.5 Bil JPY
	- FY2024 (Forecast)：4.57 Bil JPY

Incubation	Book Value: 3.8 Bil JPY
	As of March 2024
	Market Value: 8.6 Bil JPY
	As of March 2024

• Reached midterm goal set in FY2021 of 100 Bil JPY in GMV in FY2023. New operating income goal set in its place.
• Buyee maintains its pole position among domestic businesses with the 5,000 partnered sites
• GMV for Global Commerce expected to increase 18% YoY to 83 Bil in FY2024
• Transferred shares of Value Cycle Segment. Deconsolidated in 2H FY2024.

Investments: 15 Domestic, 43 Int'l

• Book value and market value increased due to depreciation of yen
• Expected to sell investments to offset appraised losses

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Sale of Value Cycle Segment

Share Transfer of Defactostandard and JOYLAB

Share Transfer Price and Booking

▶ Transfer price 2.9 billion yen. 800 million yen in extraordinary income to be booked*

▶ Profits expected to go to M&A that will help reach our midterm goal

※ Final transfer price will be adjusted according to the share purchase agreement and will be recorded in 3Q

Timeline

▶ Signed share transfer agreement with AUCNET on 14 February

▶ Value Cycle businesses are part of the Group until the end of March (not

included from 3Q results)

▶ Transfer completed at the end of April

リユースビジネスについて

▶ We continue to handle reused items in Global Commerce and will cooperate with a

wide range of partners in the industry through our platform

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2Q Financial

Results

JAN 2024〜MAR 2024

FY2024 2Q Highlights

Consolidated

27.6％ GMV growth due to strong performance in Global Commerce

No sale of investment securities lead to decrease in operating income

ResultsYoY

GMV	30.0	Bil JPY	+27.6 %
Net Sales	8.1	Bil JPY	+6.4 %
Operating Income	0.62	Bil JPY	-35.9%

E-Commerce Business

Growth in each E-Commerce segment

Each E-Commerce segment recorded profits

	Results		YoY
GMV	29.9	Bil JPY	+28.3 %
Net Sales	8.1	Bil JPY	+16.3 %
Operating Income	1.15 Bil JPY	+27.6 %

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Consolidated GMV

Steady growth in E-Commerce Business, GMV up 27.6% YoY

			Consolidated
（Unit: million JPY）		+27.6%
			30,200	30,092
			172	28,770	194
			4,785	213	3,881
			3,189
22,899	23,59024,069		4,151
365	207	4,116
369			4,491
2,779		3,145	3,721
3,279		3,746	3,366

20,82121,30921,917

16,55916,46416,843

FY2020

FY2021

FY2022

FY2023

FY2024

Other Business

YoY -46.8％

Entertainment

YoY +23.4％

Increase due to steady

sales in Groobee and

artist goods

Value Cycle

YoY +10.8％

Aggressive sales

initiatives in 2Q due to

sales enhancement

Global Commerce

YoY +33.1％

Strong growth in GMV

due to continued

aggressive campaigns

*The amounts represent the total of the merchandise of the Group companies. For businesses recording merchandise prices as sales, the GMV is the total amount of sales. For businesses recording only commissions as sales, the sum of merchandise and shipping charge are recorded as GMV.

*FY2022 results have been reclassified into the new segments due to the restructuring of segments in FY2023

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Consolidated Net Sales

Steady YoY Growth in E-commerce Sales

Incubation decreased due to no sale of investment

（Unit: million JPY）

			Consolidated
				+6.4%
			10,433
			160
			2,133
				7,927	8,149
	7,656			160
		542	173	2
		7,443	362
	221		0
6,975	155		330
554
189	758
265
262
329
318
			4,558	4,181	4,206
3,311	3,760	3,400

3,002 2,964 2,928 3,192 3,380 3,557

FY2020

FY2021

FY2022

FY2023

FY2024

*FY2022 results have been reclassified into the new segments due to the restructuring of segments in FY2023

Other Business

YoY -27.4％

Incubation

YoY -99.5％

Decrease due to no

sale of investment

Entertainment

YoY +36.7％

Increase due to steady

sales in Groobee and

artist goods

Value Cycle

YoY +11.9％

Aggressive sales

initiatives in 2Q due to

sales enhancement

Global Commerce

YoY +20.0％

Strong growth in GMV

due to continued

aggressive campaigns

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Selling, General & Administrative Expenses (Ratio)

SG&A decreased with the increase in sales in the e-commerce business

Both consolidated and e-commerce SG&A ratio decreased

（Unit: million JPY）

Labor Costs	Advertising + Sales	Other Fixed Costs	Variable Costs
Promotion Expenses
SG&A Ratio	SG&A Ratio (E-Commerce Business)

		2,947	2,984	2,967
2,750	2,788			2,880
324	392	378
353		350
393	39.6%
39.4%		37.4%
	36.4% 36.0%	1,241	35.3%
33.4% 31.7%
1,260	28.6%
1,133	1,146		1,241	1,209
		30.4% 28.8%
			29.0%
210	200	239	198	188	165

1,052 1,048 1,122 1,151 1,159 1,155

SG&A

QoQ -2.9％

Variable Costs

QoQ -7.4％

Other Fixed Costs

QoQ -2.6％

Advertising +

Promotions

QoQ -12.4％

Labor Costs

QoQ -0.3％

FY2020

FY2021

FY2022

FY2023

FY2024

• Bonuses and Provision for Bonuses are included in other fixed costs instead of labor costs on a quarterly basis to avoid sudden fluctuation in labor costs
• Reclassification of the E-Commerce Business in FY2023 have been applied to FY2022 which subsequently affects the E-Commerce SG&A Ratio

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