#1ぐるなび GURUNAVI INVESTOR PRESENTATION Financial Results for the Third Quarter of the Fiscal Year 2021 Gurunavi, Inc. (Stock Code: 2440) Food: Satisfying People and Creating Connections#2Business Environment Restaurants continued to face difficulties this period due to restrictions on operating hours and serving alcohol as a result of state-of-emergency declarations → Restaurant management continued to be reluctant to engage in sales promotion activities From October, the eating-out market showed signs of recovery after the state of emergency was lifted Business status of member restaurants (Web survey of member restaurants) Suspension Shortened business hours As usual 100% 4% 16% 7% 7% 6% 9% 12% 13% 22% 16% 20% 29% 30% 80% 43% 52% 56% 57% 58% 62% 62% 63% 67% 64% 75% 75% 60% 59% 78% 72% 67% 69% 67% 68% 61% 40% 66% 51% 37% 36% 36% 20% 44% 33% 33% 31% 27% 27% 26% 16% 17% 21% 15% 14% 0% Apr. May Jun. 8% 7% 6% 6% 5% 5% 5% Jul. Aug. Sep. Oct. Nov. Dec. Jan. 9% Feb. Mar. Apr. May Jun. 25% 23% 1% 2% Jul. Aug. Sep. Oct. Nov. Dec. 9% FY2020 FY2021 (in Tokyo) State of emergency Pre-emergency measures GURUNAVI 28% 65% 7% Jan. 2#3Financial Highlights Losses decreased due to fixed cost reductions, etc. despite the decrease in sales in a severe business environment Use of Gurunavi services by both restaurants and consumers increased after the lifting of the state of emergency in October Market outlook for eating out remains uncertain due to increasing numbers of infections since January and the full-year forecast has not yet been determined Net sales Q3 (Apr.-Dec.) FY2020 FY2021 JPY 12,041 million JPY 9,563 million Operating loss JPY (6,235) million JPY (3,483) million Net loss attributable to owners of parent JPY (6,486) million JPY (3,606) million Number of total paying member restaurants (At the end of December 2021) 56,805 60,614 Number of Rakuten ID connected members (At the end of December 2021) "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) have been applied from the beginning of the fiscal year 2021. There is no change in presentation to the figures for previous years. 4.34 million 5.28 million GURUNAVI 3#4Consolidated income statement (JPY million) Q3 FY2020 (Apr.-Dec.) Ratio to sales Q3 FY2021 (Apr.-Dec.) Ratio to sales YOY Change (for reference) Net sales 12,041 100.0% 9,563 100.0% (20.6)% Cost of sales 5,788 48.1% 4,050 42.4% (30.0)% Gross profit 6,253 51.9% 5,513 57.6% (11.8)% SG&A expenses Operating loss 12,488 103.7% 8,997 94.1% (28.0)% (6,235) (3,483) Ordinary loss (6,217) (3,564) Net loss before income taxes (5,939) (3,597) I Net loss attributable to owners of parent (6,486) (3,606) GURUNAVI 4#5Consolidated sales breakdown (JPY million) Q3 FY2020 (Apr.-Dec.) Q3 FY2021 (Apr.-Dec.) Net sales 12,041 9,563 (20.6)% YOY (for reference) Cumulative retained services YoY decrease due to weak orders in the first half of the year and the effect of the discount campaign for the new member plan (Sep. to Jan.) Recovering from December due to improved external environment Restaurant promotion services 10,037 7,692 Spot services (23.4)% Cumulative retained services 7,749 6,381 (17.7)% YoY decrease in online reservation commission sales, which had been boosted by the Go To Eat campaign Promotions Spot services Promotions 2,288 1,311 (42.7)% 1,484 920 (38.0)% Related businesses 519 950 82.8% Revenue from contracted management of the Go To Eat campaign and Gurunavi FOODMALL (ended FY2020 Q4) was declined/was eliminated Related businesses Recorded contracted business fee from Rakuten Group. (JPY million) 10,000 9,000 Effects of the Go To Eat campaign, etc. ■Related businesses 8,000 461 451 433 200 382 7,000 118 179 1,511 293 967 1,021 995 Promotions 6,000 184 1,033 5,000 4,000 160 1,750 239 Spot services 317 653 412 3,000 6,014 5,978 6,093 5,823 515 235 360 354 218 208 493 2,000 133 369 681 ■Cumulative retained 3,148 3,250 1,000 125 2,730 services 2,320 2,131 1,928 1,350 0 Q1 Q2 Q3 84 Q4 Q1 Q2 Q3 4 Q4 00 Q1 Q2 Q3 FY2019 FY2020 FY2021 GURUNAVI 5#6Monthly change in restaurant promotion services Both sales and number of member restaurants recovering in Q3 Monthly change in sales of restaurant promotion services ■Cumulative retained services Spot services Cumulative retained services: bottom Monthly change in number of total paying member restaurants Member of delivery service *1 Old plan New plan_Start plan *2 New plan_Light plan ■New plan_Basic plan January: the effect of the discount campaign is eliminated Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. *1 Delivery member restaurants transferred from Rakuten Group, Inc. in July 2021 GURUNAVI *2 Restaurants that posted online reservations / bought optional services only 6#7(Reference) New membership plan *launched in September 2021 Set up a new plan with a lighter monthly fixed cost burden compared to the previous plan For restaurants that do not require sales promotion support, such as thriving restaurants, online reservation functions and business support products are provided independently → Increase the number of member restaurants and the possibility to reallocate resources to new businesses through the expansion of target restaurants, reduction of churn rate and associated improvement in operational efficiency Sales promotional plan (that requires published restaurant page) Basic membership fee Assigned sales contact Basic Plan 30,000 yen / month Light Plan Start Plan 10,000 yen / month 0 yen / month Х ☑ Fixed fee Lunch: 40 yen / person; Dinner: 200 yen / person Online reservation Gurunavi Ledger (App version) Use of coupons (see p. 12 for detail) Enhanced exposure (publication on special pages and advertising spaces) Different fee options available Lunch: 10-40 yen / person; Dinner: 50-200 yen / person ☑ ☑ Purchase of optional services available (exposure enhancement, outsourced services, in-store digitalization, management support, etc.) Non-member sales promotional plan (no restaurant page) include the purchase options of in-store digitalization / management support / outsourced services, etc. GURUNAVI 7#8Monthly change in number of online reservations The number of online bookings in December recovered to 87% of pre-pandemic level (December 2019) due to improvements in the external economic environment and higher conversion rates (see p.13) Although numbers of people per reservation has picked up, there is a continual trend toward smaller groups 400 ■FY2019 FY2020 350 ■FY2021 300 (April 2019 100) 250 200 150 100 50 Effects of the Go To Eat campaign, etc. < Number of people per reservation > pre-pandemic: Ave. 5.5 people Dec. 2020: Ave. 2.9 people Dec. 2021: Ave. 3.6 people 0 Apr. May June July Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. GURUNAVI 8#9Consolidated cost breakdown (JPY million) Q3 FY2020 (Apr.-Dec.) Q3 FY2021 (Apr.-Dec.) Total cost 18,277 13,047 YOY (for reference) (28.6)% Cost of Sales ✓ Depreciation and amortization decreased due to recognition of impairment loss in Q4 of the previous financial year Reduction in Go To Eat campaign operating costs Cost of sales SG&A Personnel expenses 12,488 5,590 5,788 4,050 8,997 (30.0)% SG&A Rent expenses 1,558 Business consignment expenses 1,040 1,120 5,255 985 (36.8)% 7.6% (28.0)% (6.0)% Rent expenses Decrease in office rent expenses due to scaling down office space and relocation/reduction of sales offices Advertising and promotion expenses Advertising and promotion expenses 1,604 537 Other 2,694 1,097 (66.5)% (59.3)% (JPY million) 10,000 Reduction in advertising and promotion expenses for driving restaurant demand through Go To Eat campaign and for online reservation points Other expenses Reduction in other expenses due to the repayment of reserves for bad debt and a reduction in depreciation and amortization in recognition of impairment loss in Q4 of the previous financial year Cost of sales 9,000 8,000 7,000 6,000 2,684 2,590 2,321 2,464 2,397 5,000 1,738 1,060 620 4,000 695 1,085 885 1,728 1,669 843 229 1,239 1,599 801 907 1,101 929 351 3,000 414 830 314 188 1,211 237 274 493 298 481 50% 328 388 285 763 413 876 327 112 457 501 528 341 390 347 312 396 2,000 528 346 376 Advertising and promotion expenses Other expenses ■■Business consignment expenses Rent expenses 388 318 320 1,000 2,415 2,292 2,167 2,031 2,018 2,096 1,474 1,650 1,948 1,544 1,762 ■Personnel expenses 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY2019 FY2020 FY2021 GURUNAVI 9#10Consolidated balance sheets Raised 5.0 billion yen by issuing common stock (3.3 billion yen) and Class A preferred stock (1.7 billion yen) through third-party allotment (JPY million) As of Mar. 31, 2021 As of Dec. 31, 2021 As of Mar. 31, Change (JPY million) 2021 As of Dec. 31, 2021 Change Total current assets 11,664 11,573 (90) Total current liabilities 4,024 2,902 (1,121) Cash and deposits 7,507 7,246 (260) Accounts payable- other 1,482 1,348 (133) Notes and accounts 2,741 3,413 671 Deposits received * 1,675 803 (872) receivable-trade Accounts receivable- other 1,154 657 (497) Income taxes payable 57 2 (54) Prepaid expenses 480 685 204 Provision for bonuses 247 286 39 Allowance for doubtful Provision for point accounts (581) (546) 34 158 card certificates Other 362 119 (243) Other 402 3030 (128) 28 Total non-current 1,903 2,814 910 Total non-current liabilities 168 235 66 assets 99 Property, plant and 95 95 Total liabilities 4,192 3,137 (1,054) equipment Intangible assets 793 793 Total net assets 9,375 11,250 1,875 Investments and 1,903 1,925 21 Equity 9,290 11,145 1,854 other assets Total assets 13,567 14,388 820 Total liabilities and net assets 13,567 14,388 820 JPY 4 billion ) Total amount of commitment line contract as of Dec. 31, 2021 (Outstanding borrowing balance Recorded for cash and deposits and deposits received related to the operation of the contracted business from the Ministry of Agriculture, Forestry and Fisheries (Go To Eat campaign) ( At the end of March 2021 : 1,508 million yen each, At the end of December 2021 : 600 million yen each) GURUNAVI 10#11Target concept Evolve from a sales promotion support company into a management support company Provide value for all restaurants regardless of size, category, or location Until now Sales promotion support company (Market) Dining out Ready-made meals Business fields (Service offered) Home-prepared meals Sales promotion support Business/management support Product development support From now on Management support company Business fields (Market) Dining out Ready-made meals Home-prepared meals (Service offered) Sales promotion support Business/management support Product development support One-Stop Digital Solution Table reservations in online sales promotion Mainly downtown and near offices 100 thousand ~ 200 thousand outlets Restaurants that are active Primarily for banquets Product Ordering Table development Purchasing reservations Delivery E-commerce Accounting Payment Digital platform for restaurant industry Expanding target restaurants Approx. 500 thousand outlets in Japan Transform restaurant sales promotion activities and consumers' dining out behavior Approx.500 thousand outlets in Japan Transform the overall management of restaurants with the power of digital technology to enhance the value of all consumer dining experiences GURUNAVI 11#12Progress in strengthening measures: Strengthening the ability to send customers for dine-in (1) Number of Rakuten ID-connected members exceeded 5 million Launch of "Gurunavi Online Reservation Coupon" to strengthen the promotion of online reservations for Rakuten members (over 100 million) → Making constant improvements in terms of convenience and benefits to increase Rakuten ID-connected membership to 10 million Number of Rakuten ID-connected members 10.00 9.00 8.00 • Gurunavi Online Reservation Coupon (Trial - December 2021, implementation - January 2022) Gurunavi analyzes reservation trends for Rakuten ID-connected members and issues targeted discount coupons (available for online reservation) Gurunavi promotes the uptake of coupons through both Gurunavi and Rakuten websites and email newsletters 7.00 6.00 5.00 4.00 3.00 2.00 1.00 0.00 End of Dec. 2021 5.28 million people Member Restaurants Restaurants can attract customers through discounts at no cost クーポン 先着利用:5,000枚 コース予約で会計金額から $31,000P 円 OFF →Increased member satisfaction and retention 主な利用条件 最低利用金額合計6,000円以上 ·来店人数:3名样以上 1.27 1.64 2.18 2.54 2.66 2.94 4.34 4.55 4.69 4.85 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY2018 FY2019 FY2020 FY2021 Gurunavi More flexible incentives can be provided with fewer resources than before. →More efficient marketing to attract new member users and promote repeat use by existing member users 友人との予約におすすめ! GURUNAVI 12#13Progress in strengthening measures: Strengthening the ability to send customers for dine-in (2) ✓ Continually improve UI & UX and increase conversion rate 3.0 2.5 Increase the number of diners sent to member restaurants through reservations by recovering the number of visits to Gurunavi site through improvements in the external environment, etc. Conversion rate of online reservation FY2019 (Pre-pandemic) FY2021 Recent UI & UX improvement initiatives 2.0 (April 2019 1.0) 1.5 1.0 0.5 Number of visits to Gurunavi site FY2019 (Pre-pandemic) ■FY2021 50% of pre-pandemic level Apr. May June July Aug. Sep. Oct. Nov. Dec. GURUNAVI FY2019 Q4 Modernized Gurunavi website home page FY2020 Q1 Q2 Q3 Q4 FY2021 Q3 Improved reservation form Added "Coronavirus Measures" display on restaurant pages Modernized restaurant pages for smartphones - pt.1 Improved restaurant search UI Modernized restaurant pages for smartphones - pt.2 Modernize map search function on mobile app Modernize restaurant search options Enlarge "Coronavirus Measures" display on restaurant pages お店の取り組み 14/14件実施中(2021/12/21更新) 全スタッフワクチ ン接種済 店内や設備等の消 毒・除菌洗浄 Additionally, conducted a series of improvements to the booking process, search function and restaurant page UI 13#14Progress in strengthening measures: Build ingredients ordering service Launch "Gurunavi FOODMALL", an e-commerce website for sourcing commercial use ingredients and materials for restaurants → Add value for restaurants and create new revenue stream (charging sales commission for wholesalers) Gurunavi ingredients ordering support services Regular order function ぐるなび発注 ✓ Ongoing trial EC site that functions like a shopping mall for ぐるなび仕入モール ingredients Launched November 2021 Main features of Gurunavi FOODMALL 1. Wide range of products available, from ingredients to takeout packaging and materials ✓ Products on website: over 17,000 (as of end of December 2021) 2. Site layout and search function make searches easy ✓ Searches can be refined by shipping cost, temperature, price, payment method, production / processing location, total weight Working to build up a range of new suppliers and ingredients for restaurants, and new customers for suppliers In preparation for full-scale launch in April 2022, continue to develop product range and improve UI & UX to meet the needs of participating restaurants = ぐるなび仕入モール お探しですか? ぐるなびスモール ホーム カテゴリ ais - -20 野菜農産 できます。 SAN ATTER OF WATERSTREERIT カット野菜ミックス ( あなたにおすすめの商品 カテゴリ RANIA 支払い方 セット のきのこセット 4 いちご いちご りんご 10 サイズ バック ラフランス [ kg5-49-4X 10kg 5-191 S~Lサイズ D-FAR カテゴリランキング 詳細条件 こだわり テイクアウト あり 25kg 8 9 R DE ログイン カート ta/601 60 【單程約】白號 65 1パック 50g ~Lサイズ 山形... ATE 指定なし SUPER バジル20g 1バック かっぱ 1kg 中で500g 3FDA) DADOME らのカゴメ) イタリ 100 ARTE GURUNAVI 14#15New initiatives Contribute to a sustainable food culture, while working to generate new revenue by trialing new businesses and services LIVE camera experiment in restaurants - "AKIBA no Akiba❞ (November 2021 - January 2022) 1. Images from inside participating restaurants updated every minute and posted on web sites Supports customers in choosing safe and secure restaurants during the COVID-19 pandemic by showing real-time occupancy information 2. Seat Keeper (holds an empty seat for 15 minutes), and Live Coupon (issued when a seat is available) functions provide convenience and benefit to customers Develop "Soy Delice Koji" soymilk cheese for commercial production, in collaboration with Tokyo Institute of Technology and Fuji Oil Co., Ltd. (Commercial sales began December 2021) 1. Product development based on results of joint fermentation research with the Tokyo Institute of Technology in 2016 2. Double fermentation of low-fat soy milk with lactic acid bacteria and koji mold: food made from plant-based ingredients for health, environmental protection, and food diversity 3. Continue to discover new values from Japanese food through scientific analysis of fermented food and work to enhance brand value of Japanese food through product development "Gurunavi Premium Meal Kit” for recreating the taste of popular restaurants at home (From January 2022) 1. Meal kits that bring together carefully selected ingredients and seasoning, with cooking instruction videos by the chef, to provide customers with the tastes of popular restaurants 2. Transforming the restaurant from places where customers eat into places to create and share the joy of new food Offering a wide range of ways to enjoy restaurants and a guide to a rich dietary lifestyles to consumer GURUNAVI ぐるなび Premium Meal Kit プレミアムミールキット 15#16Mid-term vision Evolve into management support company for restaurants Sales promotion support Product development support Restaurants' business diversification support Sales promotion support Operational improvement support Management support company for restaurants Transform restaurant from an "on the spot meal provider" to a "comprehensive food service provider" that meets all consumer needs GURUNAVI 16#17Reference materials GURUNAVI 17#18Number of member restaurants FY2021 Q3 Number of total paying member restaurants 60,614 Member restaurants with monthly-type fee contract 47,050 ■Member restaurants with monthly-type fee contract (Restaurants) 65,000 60,000 55,000 50,000 45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 48,933 0 GURUNAVI 49,429 50,758 50,310 50,798 51,365 52,538 52,235 52,148 52,279 53,323 53,263 53,628 54,458 55,894 56,967 58,226 59,612 60,816 60,886 61,383 61,328 61,986 61,482 61,157 at the end of December 2021 up by 3,809 from the end of December 2020 at the end of December 2021 down by 644 from the end of December 2020 FY2013 FY2014 FY2015 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY2012 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 *The numbers in the graph are the number of total paying member restaurants 60,629 60,712 59,660 59,007 58,951 59,067 59,173 51,640 49,469 56,805 55,763 54,342 61,107 60,614 18#19User reach ■Number of Rakuten ID connected members : 5.28 million (At the end of Dec. 2021; 4.34 million at the end of Dec. 2020) ■Number of Gurunavi members : 22.04 million (As of Jan. 1, 2022; 20.91 million members as of Jan. 1, 2021) Unique user per month : 41.00 million *Unique users per month: Based on browser count GURUNAVI (In Dec. 2021; 44.00 million users in Dec. 2020) *Gurunavi member: An individual who has registered for membership at Gurunavi 19#20Quarterly sales data (consolidated) FY2018 FY2019 FY2020 FY2021 Net sales (Unit: JPY million) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Cumulative retained services a 6,778 6,417 6,385 6,300 6,014 5,978 6,093 5,823 1,350 3,148 3,250 2,730 2,320 2,131 1,928 Spot services b 751 691 1,166 999 967 1,021 1,511 995 125 412 1,750 515 260 369 681 C= Restaurant promotion services a+b 7,530 7,108 7,552 7,299 6,982 6,999 7,605 6,819 1,475 3,561 5,000 3,245 2,581 2,501 2,610 Promotions d 144 174 322 314 118 179 200 293 133 317 1,033 653 218 208 493 e= Core businesses total 7,674 7,282 7,874 7,614 7,100 7,178 7,805 7,113 1,608 3,879 6,033 3,899 2,799 2,709 3,104 c+d Related businesses f 534 513 634 600 451 433 461 382 174 160 184 239 235 360 354 Total g= e+f 8,209 7,795 8,509 8,214 7,551 7,611 8,267 7,495 1,783 4,040 6,217 4,139 3,034 3,070 3,458 FY2018 FY2019 FY2020 (Unit: JPY) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 FY2021 Q2 Q3 Restaurant promotion services revenue per restaurant(ARPU) h *1 40,933 38,911 41,493 40,430 39,227 39,557 42,961 38,449 8,878 23,486 31,367 19,224 15,628 14,442 14,298 Cumulative retained services revenue per restaurant(ARPU) 1*2 37,466 35,876 35,963 35,872 34,872 35,071 35,924 34,547 8,617 22,136 23,064 19,657 17,631 15,838 13,687 *1) Sum of sales of cumulative retained services and those of spot services devided by the average of number of total paying member restaurants at previous and current quarter-end h=2/3*c/(jt-1+jt) *2) Sales of cumulative retained services devided by the average of number of member restaurants with monthly-type fee contract at previous and current quarter-end i=2/3*a/(kt-1+kt) The deviation from figures disclosed before the first quarter of fiscal year 2021 is due to a recalculation based on the number of member restaurants with monthly-type fee contract defined in Note 3) Number of member restaurants (Unit: restaurants) FY2018 FY2019 FY2020 FY2021 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Total paying member restaurants j 61,157 60,629 60,712 59,660 59,007 58,951 59,067 59,173 51,640 49,469 56,805 55,763 54,342 61,107 60,614 Member restaurants k*3 59,973 59,264 59,125 57,960 57,027 56,612 56,469 55,910 48,580 46,256 47,694 44,917 42,830 46,904 47,050 with monthly-type fee contract *3) Restaurants using the fixed monthly fee service (regardless of whether they have a paid listing contract on the Gurunavi site) GURUNAVI 20 20#21User overview 60 and above 11.0% GURUNAVI 50's 19.3% Users by age group Unknown 4.1% Under 20 0.4% 40's 28.7% 20's 12.1% User composition by gender 30's 24.4% Women 47.7% Men 52.3% Source: Gurunavi member data (In December 2021) 21#2220 sales offices that provide services to local businesses across the country Regional expansion and member restaurants Percentage of member restaurants(paid) by region Shiokoku 1.4% Chugoku 3.3% Hokuriku 2.8% Touhoku 3.3% Hokkaido 2.6% Okinawa 1.4% Head Office Hokkaido Sales Office Sendai Sales Office Ibaraki Sales Office Tochigi Sales Office Saitama Sales Office Chiba Sales Office Yokohama Sales Office Shizuoka Sales Office Nagoya Sales Office Niigata Sales Office Kanazawa Sales Office Osaka Sales Office Kyoto Sales Office Okayama Sales Office Hiroshima Sales Office Ehime Sales Office Fukuoka Sales Office Kagoshima Sales Office Okinawa Sales Office Kyushu 5.7% Kanto 47.6% Chubu 10.0% Kansai 21.8% Percentage of member restaurants (paid) by restaurant type GURUNAVI * Kobe Sales Office integrated into Osaka Sales Office Continue sales activities in the Hyogo area Other cuisine 8.6% Cafes / Dessert Spots 2.2% Chinese 3.8% Asian BBQ / Teppanyaki 10.6% Bars/Gastropubs 3.9% Other Western 3.1% Japanese 25.5% Italian / French 8.2% Izakaya (Japanese Pub) 34.0% * In December 2021 22 22#23Sales and costs & expenses Sales Costs & Expenses (Million yen) 40,000 35,000 Cost of sales ■Advertising and promotion expenses Other expenses ■Business consignment expenses ■Rent expenses ■Personnel expenses (Million yen) 40,000 Related businesses Promotions Spot services 2,381 35,000 2,298 1,007 ■Cumulative retained 2,214 1,018 services 989 2,638 2,761 3,374 2,282 30,000 2,529 956 1,729 750 30,000 2,786 792 1,847 924 3,609 2,323 1,698 4,496 25,000 25,000 921 8,832 10,142 10,645 1,670 1,529 8,626 10,136 8,683 1,062 1,138 7,817 6,114 20,000 20,000 2,773 2,697 2,400 7,458 5,096 2,363 2,458 2,718 3,037 3,287 15,000 30,951 28,883 29,534 759 2,137 4,575 4,549 4,403 15,000 2,150 3,989 1,955 27,277 4,185 3,482 25,109 25,881 4,485 4,191 2,658 2,240 2,103 23,909 2,803 22,490 4,003 2,331 3,570 2,169 1,315 10,000 20,431 10,000 1,904 1,879 1,366 1,565 1,766 2,042 1,173 1,976 1,431 1,415 1,106 1,116 1,133 1,947 5,000 10,480 5,000 7,190 7,833 8,313 8,867 9,510 9,833 10,086 9,916 8,906 7,240 0 0 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 GURUNAVI FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 23 23#24Historical data (consolidated) (Unit: JPY million) FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 Consolidated business results Net sales 24,302 27,265 30,518 32,636 34,617 36,979 36,226 32,728 30,927 16,181 Operating income (loss) *1 3,312 3,116 4,147 5,099 6,429 6,740 4,742 1,216 1,821 (7,423) Ordinary income (loss) 3,375 3,153 4,167 5,127 6,492 6,813 4,809 1,289 1,894 (7,269) Net income (loss) 1,909 1,959 2,420 3,279 4,367 4,799 3,192 581 949 (9,704) Assets Liabilities Net assets Total assets 16,951 19,103 22,071 23,665 27,322 23,917 25,457 23,797 23,979 13,567 Cash and deposits 7,548 7,399 9,448 10,492 13,131 7,922 8,000 7,630 11,653 7,507 Liabilities 4,381 5,005 5,926 6,201 7,026 5,878 6,270 5,093 4,709 4,192 Net assets 12,569 14,098 16,145 17,464 20,296 18,038 19,186 18,704 19,270 9,375 Equity 12,555 14,042 16,099 17,427 20,266 18,013 19,166 18,662 19,211 9,290 Per share data Earnings per (loss) share(JPY) *2 39.12 40.15 49.56 67.26 90.19 102.25 68.27 12.42 20.26 (206.90) Dividends per share(JPY) *2 10 10 10 15 28 38 42 44 8 8 Other Operating margin (%) Return on equity(%) 13.6 11.4 13.6 15.6 18.6 18.2 13.1 3.7 5.9 16.1 14.7 16.1 19.6 23.2 25.1 17.2 3.1 5.0 Return on assets(%) Payout ratio (%) Shareholders' equity ratio (%) 10.4 10.9 11.8 14.3 17.1 18.7 12.9 2.4 4.0 25.6 24.9 30.3 41.6 42.1 41.1 64.5 64.4 39.5 74.1 73.5 72.9 73.6 74.2 75.3 75.3 78.4 80.1 68.5 Number of shares of treasury stock Total paying member restaurants 1,585,400 1,585,400 1,503,649 266,059 216,459 1,924,559 1,892,159 1,839,162 1,806,562 1,757,262 48,893 50,310 52,235 53,263 56,967 60,886 61,482 59,660 59,173 55,763 *1:The credit commitment fee payable to financial institutions, previously included in the "payment fee" under selling, general and administrative expenses, is separated to the "commitment fee" under non-operating expenses from the fiscal year 2020. There is no change in presentation to the figures for previous years. *2:Gurunavi implemented a 2-to-1 split on April 1, 2014. Calculated on the assumption that these share split were conducted at the beginning of the fiscal year 2011 (April 1, 2011). GURUNAVI 24 24#25Human support structure A partner who works with restaurant managers with the aim of expanding operations over the long-term Providing advice on advertising and promotion and other issues facing member restaurants Member restaurant sales staff Paying regular visits to member restaurants to answer questions and provide detailed support Visiting staff Providing advice to member restaurants in difficulty Call center staff have specific skills related to the restaurant industry Call center Sharing success stories and know-how to restaurant owners through seminars and video distribution Gurunavi Academy GURUNAVI 25 25#26Business Environment Number of restaurants 490 thousand outlets in 2016 (peaked at 650 thousand outlets in 1986) *Sources: 1986 Business Census; 2016 Economic Census for Business Activity *Institutional meals, bars, and night clubs are excluded. Market size of the Japanese restaurant industry Market size of online reservation in restaurant (Trillion yen) 18 16 14 12 20% 64 10 8 (Trillion yen) 0.8 0.7 0.6 0.5 0.4 0.3 0.2 0.1 2 0 0 2014 2015 2016 2017 2018 2019 2020 '89 '91 '93 '95 '97 '99 '01 '03 '05 '07 '09 '11 '13 '15 '17 '19 *Source: Food Industry Research Institute; Size of restaurant market *Institutional meals, bars, and night clubs are excluded. 12.6 trillion yen in 2020, 26% decrease year on year GURUNAVI *The Ministry of Economy, FY2020 E-Commerce Market Survey 18% decrease year on year in 2020 26 26#27Company profile as of the end of December 2021 Name Establishment Head office Capital Gurunavi, Inc. (stock code: 2440) October 2, 1989 (incorporated) 1-2-2, Yurakucho, Chiyoda-ku, Tokyo February 29, 2000 (Gurunavi, Inc. established) 100 million yen Number of shares issued Common shares: 56,124,000 Class A preferred shares: 3,400,000 Business description Directors Top 10 shareholders (as of October 20, 2021) Number of total personnel Consolidated subsidiaries Web-based information provision relating to restaurants etc. using the platform of PC and smartphones etc. Provision of support service associated with the management of restaurants etc. and other related business Chairman and Director: Hisao Taki President and Representative Director : Akio Sugihara Outside Directors: Koichi Tsukihara (Independent Director), Hidehiko Sato (Independent Director), Hirohisa Fujiwara (Independent Director), Kazunori Takeda, Naho Kono Rakuten Group, Inc. 17.1%, Hisao Taki 13.1%, The Master Trust Bank of Japan, Ltd. (Trust account) 6.3%, SHIFT Inc. 4.2%, Japan Traffic Culture Association 3.4%, Akio Sugihara 2.3%, Odakyu Electric Railway Co., Ltd. 2.1%, Tokyo Metro Co., Ltd. 1.8%, Hiroko Taki 1.6%, The Master Trust Bank of Japan, Ltd. (Retirement benefit Trust TOKYU CORPORATION account) 1.3% *The ratio of shareholding is calculated based on the total number of shares issued after deduction of treasury stock (1,757,262 shares). Non-consolidated : 1,466 Consolidated : 1,669 Gurunavi Promotion Community, Inc. (100%), Gurunavi (Shanghai), Inc. (100%) Gurunavi Research Institute, Inc. (100%), Gurunavi Support Associe, Inc. (100%) GURUNAVI 27#28ぐるなび GURUNAVI Company information https://corporate.gnavi.co.jp/en/ Gurunavi IR contact information https://ssl.gnavi.co.jp/company/english/contact/ Disclaimer This document is not intended for offering investments in the securities issued by the Company. The document has been prepared based on data available at the end of December 2021. The views and forecasts included in the document reflect judgments of the Company when the document was prepared. The Company will not guarantee or ensure the accuracy and completeness of the information, which may be changed without prior notice.