CyberAgent FY2025 Q2 Earnings Release

May 15, 2025

We corrected past annual securities reports and others due to the discovery of
an inappropriate accounting treatment at the consolidated subsidiary.
Please refer to the “Notice on Submission of Correction Reports of Past Annual
Securities Reports and Amendments of Financial Statements for Past Fiscal
Years” released on May 15, 2025, for details.
We sincerely apologize for any inconvenience and concern it may cause to our
shareholders, investors, partners, and other interested parties.

2
0. Contents
1. Financial Summary (January – March 2025)
2. Forecast
3. Media & IP Business
4. Internet Advertisement Business
5. Game Business
6. Medium to Long -Term Strategy
7. References

3
FY25 Q2 Financial Summary
January – March 2025

Sales : 217.3 billion yen up 1.2 % YoY
Media & IP
Game
Ad
4
FY2025
Q2
Increase
Decrease
Decrease
Increase
Increase
Increase
Increase
OP :20 .8 billion yen up 0.7 % YoY
Increase
Sales : 57.0 billion yen up 14.4 % YoY
OP :3 .3 billion yen 6.5 x YoY
Sales : 117.5 billion yen up 9.9 % YoY
OP :6.0 billion yen up 8.7 % YoY
Sales : 51.4 billion yen down 23.4 % YoY
OP :15 .3 billion yen down 15.7 % YoY
Achieved a record high in sales
OP increased year -on -year, driven by
Media & IP and Ad businesses
Increase in Sales and OP by building
a multi -layered revenue stream
Maintain a high sales increase rate
OPM was 5.1%
Sales and Profit declined due to the
console game released in Feb. 2024
However, quarter -on -quarter change
was a significant increase
1. Financial Summary
(up 34.6 % QoQ)
(4.6 x QoQ)
* YoY change: Calculated based on figures reported as corrected on May 15, 2025.

Billion Yen
5
Consolidated sales reached
a new record high
Q2 217.3 billion yen (up 1.2 % YoY)
[Consolidated Sales]
1. Financial Summary
YoY
+1.2 ％
* FY2020 to FY2024: figures reported as corrected on May 15, 2025.115.7
129.1
112.7
120.8
130.9
163.4
192.1
179.5
170.9
190.9
171.9 176.0
167.4
195.4
171.5
185.0
192.6
214.7
190.0
203.7
203.8
217.3
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
FY2020 FY2021 FY2022 FY2023 FY2024 FY2025

6
[Consolidated OP] 44.4
Billion Yen
Media & IP and Ad businesses
contributed to the OP
Q2 20.8 billion yen (up 0.7 % YoY)
YoY
+0.7 ％
1. Financial Summary
* FY2020 to FY2024: figures reported as corrected on May 15, 2025.7.8
12.5
8.1
5.3
7.0
25.8
26.7
19.6
25.3
9.8
12.7
-1.7
18.2
0.9
4.9 5.8
20.7
8.2
5.2
8.3
20.8
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
FY2020 FY2021 FY2022 FY2023 FY2024 FY2025

Q2 44.9 billion yen
(up 1.1 % YoY, down 1.6 % QoQ )
7
[SG&A Expenses]
*1 Other: Outsourcing expenses, system -related expenses, payment fees, entertainment expenses, and others. *2 FY2020 to FY2024: figures reported as corrected on May 15, 2025.
*1
Billion Yen
1. Financial Summary7.8 7.3 6.4 8.2 10.1 9.5 10.0 11.5 13.4 13.8 14.7 15.1 15.8 16.0 13.6 15.4 17.1 16.3
13.8
18.0 17.3 15.2
7.1 8.4
7.2
8.7 7.3
9.4 8.6
10.7 9.0
11.5 10.5
11.5 10.5 12.5
11.1
13.1 11.0 13.0
11.6
13.6
11.8 13.8
2.2 2.1
2.1
2.1 2.2
2.2 2.2
2.2 2.2
2.3 2.4
2.4 2.4
2.5
2.5
2.5 2.5 2.5
2.6
2.6
2.7 2.7
1.3 0.8
1.1
1.3 1.4
1.3 1.5
1.6 1.6
1.7 1.8
2.0 2.2
2.2
2.6
2.8 1.7 1.2
1.2
1.4
1.1 0.8
7.7 7.9
6.7
7.8 7.7 8.0 8.4
9.4 8.1
7.7 8.5
9.3 9.6
10.2
10.2
10.7
11.2 11.2
11.1
11.6
12.5 12.2
1.4
1.4
2.5
26.3 26.9
23.7
29.7 28.9
30.6 30.8
37.1
34.6
37.3 38.1
40.7 40.7
43.5
40.1
44.8 43.7 44.4
40.4
50.0
45.6 44.9
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 29.9
41.2
56.3 59.5 65.4
31.6
36.1
42.8
47.4
49.3
8.7
8.9
9.6
10.1
10.4
4.6
6.0
7.2
9.9
5.6
30.3
33.7
33.9
40.8
45.3
1.4
1.4
0.0
0.0
2.5
106.7
127.6
150.0
167.8
178.8
FY2020 FY2021 FY2022 FY2023 FY2024
Special incentives
Other
Research and development expenses
Office costs
Personnel
Advertisement costs

8
[No. of Employees ]
* Media & IP: According to the change in the segment, headcount has been recalculated retroactively from FY 2020.
headcount
1. Financial Summary
Total headcount was 7,958 as of the end of March
(increased by 568 YoY, 36 QoQ)
397 new graduates joined in April.
*1,376 1,332 1,394 1,409 1,409 1,409 1,490 1,553 1,572 1,593 1,748 1,703 1,660 1,631 1,718
1,811 1,774 1,752 1,903 1,897 1,952 1,957
1,492 1,466 1,549 1,522 1,481 1,462
1,604 1,623 1,655 1,690 1,903 1,962 2,055 2,133 2,377 2,381 2,348 2,353
2,513 2,498 2,487 2,511
1,643 1,670 1,786 1,826 1,924 1,942 2,105 2,150 2,183 2,221
2,389 2,429 2,466 2,525
2,717 2,738 2,759
2,818
2,969 2,955 2,972 2,964
366 362
370 374 370 374
384 395 393 394
352 365 368 380
416 432 445 457
482 489 499 514
11 12
14 13 12 12
12 12 12 13
14 13 14 13
13 12 10 10
11 11 12 12
4,888 4,842
5,113 5,144 5,196 5,199
5,595 5,733 5,815 5,911
6,406 6,472 6,563 6,682
7,241 7,374 7,336 7,390
7,878 7,850 7,9227,958
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Investment Development
Headquarters
Game
Internet Ad
Media&IP 1,376 1,332 1,394 1,409 1,409 1,409 1,490 1,553 1,572 1,593 1,748 1,703 1,660 1,631 1,718
1,811 1,774 1,752 1,903 1,897 1,952
1,492 1,466 1,549 1,522 1,481 1,462
1,604 1,623 1,655 1,690 1,903 1,962 2,055 2,133 2,377 2,381 2,348 2,353
2,513 2,498 2,487
1,643 1,670 1,786 1,826 1,924 1,942 2,105 2,150 2,183 2,221
2,389 2,429 2,466 2,525
2,717 2,738 2,759
2,818
2,969 2,955 2,972
366 362
370 374 370 374
384 395 393 394
352 365 368 380
416 432 445 457
482 489 499
11 12
14 13 12 12
12 12 12 13
14 13 14 13
13 12 10 10
11 11 12
4,888 4,842
5,113 5,144 5,196 5,199
5,595 5,733 5,815 5,911
6,406 6,472 6,563 6,682
7,241 7,374 7,336 7,390
7,878 7,850 7,922
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q
FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Investment Development
Headquarters
Game
Internet Ad
Media&IP

9
[PL]
*1 Net income attributable to owners of the parent is a ffected by the fact that AbemaTV , Inc. is exempted from the group tax sharing system, and non -controlling equity interest (minority interest) of Cygames , Inc. *2 FY2024 Q2: figures reported as corrected on May 15, 2025.
*1
1. Financial Summary　　 million yen FY2025 Q2 FY2024 Q2 YoY FY2025 Q1 QoQ
　 Net Sales 217,372 214,789 1.2% 203,842 6.6%
　 Gross profit 65,827 65,219 0.9% 53,979 21.9%
　 SG&A expenses 44,959 44,488 1.1% 45,678 -1.6%
　 Operating income 20,868 20,730 0.7% 8,301 151.4%
　 Operating margin 9.6% 9.7% -0.1pt 4.1% 5.5pt
　 Ordinary income 20,371 20,970 -2.9% 8,806 131.3%
　 Extraordinary income 508 133 280.4% 1,711 -70.3%
　 Extraordinary loss 380 1,903 -80.0% 1,312 -71.0%
Income before income taxes
and non-controlling interests
20,499 19,200 6.8% 9,206 122.7%
　 Net income attributable to
　 owners of the parent
10,792 9,998 7.9% 5,071 112.8%

10
[BS]
*1 Net Cash: Long -term bank loans, convertible bonds, short -term bank loans, and others are excluded from current cash deposits . *2 FY2024 Q2, FY2025 Q1 : figures reported as corrected on May 15, 2025.
*1
1. Financial Summary 　　　　　　 Unit: million yen
End of
Mar. 2025
End of
Mar. 2024
YoY
End of
Dec. 2024
QoQ
　　　　　 Current assets 358,758 363,486 -1.3% 367,429 -2.4%
　　　　　　　 (Cash deposits) 199,171 204,506 -2.6% 205,583 -3.1%
　　　　　 Fixed assets 161,488 132,011 22.3% 153,766 5.0%
　　　　　 Total assets 520,288 495,553 5.0% 521,241 -0.2%
　　　　　 Current liabilities 158,346 164,312 -3.6% 173,182 -8.6%
　　　　　　　 (Income tax payable) 10,773 10,521 2.4% 2,834 280.0%
　　　　　　　 Fixed liabilities 99,513 96,021 3.6% 99,787 -0.3%
　　 　　　 Shareholders’ equity 150,116 135,217 11.0% 139,260 7.8%
　　　　　 Net Assets 262,428 235,219 11.6% 248,271 5.7%
　　　　　　 (Reference) Net Cash 104,782 96,848 8.2% 87,719 19.5%

FY2025
Forecast
October 2024 – September 2025
11

12 *1 Estimates of sales and profit for FY 2026 and beyond may vary significantly. *2FY2020 to FY2024: figures reported as corrected on May 15, 2025.
Growth phase ABEMA investment phase Growth phase
FY2025E FY2013 FY2017 FY2021 FY2023 FY2024
Committed to increasing sales and profits for medium to long -term
FY2025
OP
¥ 42B
FY2025
Sales
¥82 0B
Sales*1
OP*1
Major hit title
Sales 820 billion yen (up 2.3 % YoY)
OP 42 billion yen (up 4.8 % YoY)
Committed to revenue and profit growth
Media & IP business to turn positive
2. Forecast-20
180
380
580
780
980
1180
1380
1580
-120
880
1,880
2,880
3,880
4,880
5,880
6,880
7,880
8,880
FY2000 FY2001 FY2002 FY2003 FY2004 FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025E FY2026E FY2027E -20
180
380
580
780
980
1180
1380
-120
880
1,880
2,880
3,880
4,880
5,880
6,880
7,880
8,880
FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023E FY2024E FY2025E FY2026E
売上高
営業利益

0% 50 % 100 %
13
[Forecast] Progress rate is steadily over 50% in the second quarter
*
*1
2. Forecast
*1 Net income attributable to owners of the parent is a ffected by the fact that AbemaTV , Inc. is exempted from the group tax sharing system, and non -controlling equity interest (minority interest) of Cygames , Inc. *2 FY2024: figures reported as corrected on May 15, 2025.
820B
42B
Progress rate
69.5 %
FY2025
Forecast
Progress rate
51.4 % 421.2B
29.1B
*1 Unit: billion yen FY2025 Forecast FY2025 1H Total Progress FY2024 YoY
Net Sales 820 421.2 51.4% 801.2 2.3%
Operating profit 42 29.1 69.5% 40.0 4.8%
Ordinary profit 42 29.1 69.5% 39.7 5.8%
Net income attributable
to owners of the parent 21 15.8 75.5% 15.9 31.4% 0% 25% 50% 75% 100%
Operating profit
Sales

14
Media & IP

15
Sales increased by building multi -layered revenue
Q2 57.0 billion yen (up 14.4 % YoY)
3. Media & IP Business
Billion Yen
[Quarterly Sales] YoY
＋ 14.4 %
*1 Media business and Other business have been merged and renamed Media & IP business since FY 2025.Above mentioned change has been retroactively reflected from FY 2020. *2 FY2020 to FY2024: figures reported as corrected on May 15, 2025.16.6
18.5 17.8
22.5
25.3 25.1 24.3
28.3
31.0
33.6
35.4 36.2
39.1
41.6
39.7
47.9
50.3
49.9
47.7
52.1
55.6
57.0
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
FY2020 FY2021 FY2022 FY2023 FY2024 FY2025

16
OP increased significantly,
driven by sales growth
Q2 3.3 billion yen ( +2.8 billion yen YoY)
-9.7
[Quarterly OP]
Billion Yen
*2 Quarterly OP: Special incentives in FY2020 and FY2021and FY2024 are excluded. *3 FY2020 to FY2024: figures reported as corrected on May 15, 2025.
3. Media & IP Business
*1 Media business and Other business have been merged and renamed Media & IP business since FY 2025.Above mentioned change has been retroactively reflected from FY 2020.-4.7
-3.7
-3.4
-4.5
-3.6
-3.1
-3.8
-3.5 -3.6
-1.9
-4.3
-3.2
-0.5
-1.7
-0.4
-0.7
0.5
0.2
-0.7
1.4
3.3 -4.7
-3.7
-3.4
-4.5
-3.6
-3.1
-3.8
-3.5 -3.6
-1.9
-4.3
-3.2
-0.5
-1.7
-0.4
-0.7
0.5
0.2
-0.7
1.4
3.3

17
[ABEMA ] Sports content had strong viewership in addition to popular genre
such as anime and variety
* The number of WAU (weekly active users) from Monday March 31, 2025, to Sunday, April 6, 2025.
28.92 million
WAU *
3. Media & IP Business
25 million
20 million
15 million
10 million
5 million
30 million
WAU Growth FIFA World Cup
©AbemaTV , Inc.0
500
1,000
1,500
2,000
2,500
3,000

18
[ABEMA ] Original programs gained popularity
*1 Dead or Love took the #1 spot for the week of March 31 and April 6, 2025, in the top 10 ranking. *2 The shapes of love produced by the consolidated subsidiary Babel Label Inc. took the #1 spot for the week of December 9 and 15, 2025, in the top 10 ranking.
3. Media & IP Business
Drama Dating reality shows Variety shows
©AbemaTV , Inc.
2 ABEMA original dramas topped the Netflix weekly ranking
#1
Netflix Top10 *1
Dead or Love
#1
Netflix Top10 *2

Lead Manager Original IP
Lead Manager
Investment Lead Manager
©AbemaTV , Inc.
[IP Business ] Small investments in building relationships led us to take a leading
position in producing anime. Aim to create original IP in parallel with investment
3. Media & IP Business
Somali and the
Forest Spirit
Darwin’s Game
Sing “Yesterday”
for Me
The Promised
Neverland
Cautious Hero: The
Hero Is Overpowered
but Overly Cautious
Girly Air Force
Zombie Land Saga
Ms. Koizumi loves
ramen noodles
Hinomaru Sumo
As Miss Beelzebub
Likes
Animal Trail
RobiHachi
Creation of original IP Investment Lead Manager
2018 2019 2020 2021 2022 2023 2024 2025
Lead Manager Original IP Investment Lead Manager
Lead Manager Original IP
Original IP
Lead Manager
Lead Manager
Co-lead Manager
Investment
Investment Investment
Investment
Investment
Investment
Investment
Investment
Investment
Investment
Investment
Investment
Investment
Investment
* Copyrights are stated on the last page. 19
Investment
Co-lead Manager Original IP
Original IP

[IP Business ] IP business has been expanding gradually since ABEMA’s launch
3. Media & IP Business
Acquisition
Anime AI
STUDIO
Establishment
Kaeru
AbemaTV,Inc .
Founding
CA -Cygames
Anime Fund
Establishment
Tokyo Anime
Artifacts, Inc.
Founding Service Release
2023 2024 2025 2016
Service Release
Acquisition
CAAnimation
Establishment
Anime Business
Unit
Establishment
Launch
Entertainment
Business Unit
Establishment
Launch
Animecomics
Store Open Renamed
CA America
Restart
Founding Establishment
April
February
January
Animation AI Lab
Establishment
*Includes departments and services that have been merged or eliminated.
Entertainment Merchandise
Cygames Pictures, Inc.
Founding
Acquisition
20

3. Media & IP Business
[IP Business ] Many new businesses, new projects are launching
English service launch Partnership
Increasing global marketing partners MANGA APARTMENT opened
Partnership
Feb.2025
Anime production company’s new office
Text text
Apr. 2025 Apr. 2025
19 talented young manga artists moved in
21
Masakazu Ogawa,
Anime producer

3. Media & IP Business
[IP Business ] Building a one -stop system from original IP creation to monetization
Originals/Comics Anime Event/Merchandise
22
Animation
AI Lab
Global
Entertainment
Business Unit
Developing IP ecosystem aimed at global success
©AbemaTV , Inc.
Distribution/marketing

23
Internet Advertisement

24
[Quarterly Sales]
Billion Yen
indicates the sales of MicroAd , Inc., which became a non -consolidated company.
4. Internet Advertisement Business
Sales continue to increase at a high rate,
driven by new client acquisition
Q2 117.5 billion yen (up 9.9 % YoY)
YoY
+9.9 %
* FY2020 to FY2024: figures reported as corrected on May 15, 2025.67.3
72.8
64.1 64.9
76.5
80.6 81.7 82.0
87.6
96.8
99.3
92.1 95.4
99.9
105.2 103.8 104.9
106.9
111.8 110.8
117.7
117.5
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
FY2020 FY2021 FY2022 FY2023 FY2024 FY2025

25
4. Internet Advertisement Business
[Quarterly OP]
Billion Yen
*1 Quarterly OP and OPM: Year -end bonuses in FY2020, FY2021, and FY2024 are excluded. *2 FY2020 to FY2024: figures reported as corrected on May 15, 2025.
YoY
+8.7 %
YoY
-0.1 pt
Q2 6.0 billion yen (up 8.7 % YoY)
OPM was 5.1 %5.73
6.74
4.63 4.49
5.68
7.20
5.08
4.85
5.58
7.27
6.00
4.84 4.82 4.70
3.63
4.29
5.24
5.56
5.64
5.09
6.01
6.05
8.5% 9.3%
7.2% 6.9% 7.4%
8.9%
6.2% 5.9% 6.4%
7.5%
6.0% 5.3% 5.1% 4.7% 3.5% 4.1% 5.0%
5.2%
5.0% 4.6% 5.1%
5.1%
0
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 21.07
22.57
24.46
18.31
22.21
7.8% 7.0% 6.5%
4.5%
5.1%
FY2020 FY2021 FY2022 FY2023 FY2024
OP
OPM

26
FY2016 FY2025
Research & Development
AI Utilization to maximize advertising effectiveness
Operational efficiency
AI Models
CA Assistant
AI Creative
BPO Division
AI Agent
NEW
NEW
4. Internet Advertisement Business
[AI] In addition to leveraging AI to maximize advertising effectiveness,
CyberAgentLM CyberAgentLM CyberAgentLM
Ver.2 Ver.3
VLM
Vision language model
Large language model Large language model Large language model
AI Shift, inc
our scope also expands to enhance operational efficiency through AI

27
AI assistants for internal use Sales of customized AI agent to client
4. Internet Advertisement Business
[AI] AI agent service developed for internal use is now available to external clients.
AI Agent Platform
AI Worker
Build a Customized AI agent
In cooperation with Oracle
Autonomous Database
A dedicated AI assistant supports operational tasks
Reports that would take 1 -2 days to complete manually can be
completed in 2 minutes
Features of AI assistants
– Support ad analysis
– Create charts and graphs
– Set up ad campaigns
– Answer technical questions
– Generate message/mail response
Mar. 2025
Release

28
Game

29
5. Game Business
[Quarterly Sales]
Q2 51.4 billion yen (down 23.4 % YoY)
92.3
Billion Yen
*New games: games released after FY2024.
Year -on -year decrease due to the hit console
game released on February 1, 2024
34.6 % quarter -on -quarter increase
driven by new games and anniversary
events 35.2
44.8
36.7
39.0
29.9
63.9
76.4
58.3
69.0
46.2
54.8
40.9
62.1
33.7
42.3
45.0
67.1
38.8
44.9
38.2
51.4
1Q 2Q 3Q 4Q １Q 2Q 3Q 4Q １Q 2Q 3Q 4Q １Q 2Q 3Q 4Q １Q 2Q 3Q 4Q １Q 2Q
FY2020 FY2021 FY2022 FY2023 FY2024 FY2025

30
Q2 15.3 billion yen (down 15.7 % YoY)
[Quarterly OP] 44.2
5. Game Business
Billion Yen
* Quarterly OP : Year -end bonuses in FY2020 and FY2021 and FY2024 are excluded.
Year -on -year decrease due to the hit console
game released on February 1, 2024
4.6x quarter -over -quarter increase5.1
10.4
7.5 7.4
1.1
23.2
28.1
17.1
21.3
9.8
12.1
5.2
15.2
-0.1
2.4
3.4
18.2
5.1
4.2
3.3
15.3
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
FY2020 FY2021 FY2022 FY2023 FY2024 FY2025

31
[New Game]
5. Game Business
* ©SOTSU ・SUNRISE ©SOTSU ・SUNRISE ・MBS
Publisher: Bandai Namco Entertainment Inc.
Co -developed by Bandai Namco Entertainment Inc. and Applibot , Inc.
Apr. 16 2025
Global release
SD Gundam G Generation ETERNAL * off to a good start with high
user appreciation

8. Mobile –April 2, 2025
7.Mobile March 27, 2025
9. Mobile –April 16, 2025
5. Game Business
[Upcoming games] 4 new games already launched so far, 6 games *1 in total will come out
in FY 2025. Aim for global success on both the strong IPs and original IPs
*1 PC Steam version of Umamusume : Pretty Derby is not included in the new games. *2 Copyrights are stated on the last page.
1. Console -Dec.2023
2. Console -Feb.2024
5. Console –Aug.2024 13. Console -Release date TBD
14. Console -Release date TBD
4. Mobile –May.2024
3. Mobile -Nov.2023
FY2025 FY2026 onward FY2024
10. Mobile/PC June 17
12.PC Steam
June 26
June 26 12.PC Steam
11. Mobile/PC -English ver.
32
confidential
6.SP グローバル 版 2024 年11 月 6. Mobile Grobal ver Nov.2024
Third
Party
IP
Owned
IP

5. Game Business
Publisher’s own online
payment method
External payment method is introduced under the Act on Promotion of
Competition for Specified Smartphone Software *1
Continue to implement in other apps
Applied apps *3 External payment method
Payment
processing fee
5 % *2
Approx.
Sep.2024 Mar.2025
Apr.2025
Feb.2025
Dec.2024
User
User App store payment Platform
Commission
30 %
Approx.
Payment through App store
Apr.2025
33
*1 The Act on Promotion of Competition for Specified Smartphone Software was enacted in June 2024, partially enforced on Dece mbe r 19, 2024, and will be fully enforced by December 18, 2025. *2 Payment processing fee varies depending on the payment methods.*3 Copyrights are stated on the last page.

34
Medium to Long – Term Strategy

6. Medium to Long -Term Strategy
35
Before FY2024 FY2025 onward
2. Internet
Advertisement
1. Media
3. Game
Aim to produce globally successful IPs Upfront Investment
Media & IP business to drive profitability in FY2025
Build a high -profit business model by strengthening the IP business
2. Internet
Advertisement
1. Media & IP
3. Game
Mega hit title
Game
Business
Media & IP Business
Internet Advertisement Business
Accumulate profits from Media & IP business along with Ad business and strive to create new hit games from Game business .
[Medium to long -term profit growth plan]
Accumulate profit through the Ad Business and Game Business , invest in the Media Business to grow as a pillar for the medium to long -term.
[Medium to long -term profit growth plan]

Aiming to be a company with
medium to long -term supporters

37
Reference

38
7. Reference_ Purpose
* Purpose is established in October 2021.

39
Integrated Report CyberAgent Way 2024
This year’s report features an interview with two Outside Directors regarding the
succession plan, which began in 2022. In addition, Koichi Watanabe, Representative
Director of Cygames , Inc., talks about future prospects. The growth strategies of the
three main businesses and our initiatives to support sustainable growth, including
talent development and ESG information are also covered in the report.
Integrated Report
CyberAgent Way 2024
FY2025 Q3 earnings release is scheduled to be released at 3:30 pm or later on Friday, August 8, 2025.
https://report.cyberagent.co.jp/en/

40
[Forward -looking statement]
The future information, such as earnings forecast, written in this document is based on our expectations and
assumptions as of the date the forecast was made. Our actual results could differ materially from those
described in this forecast because of various risks and uncertainties.

41
1 Puraore ! –Pride of Orange -: ©2020 Praore ! Media Mix Partners
2 IDOLY PRIDE ：© 2019 Project IDOLY PRIDE/ Hoshimi Production
3 The Promised Neverland Season 2 ：© Kaiu Shirai, Posuka Demizu / Shueisha , The Promised Neverland Production Committee
4 Zombieland Saga Revenge : © Zombieland Saga Revenge Production Committee
5 Teppen !!!!!!!!!!!!!!! : © Teppen Grand Prix Executive Committee
6 Technoroid Overmind : ©Shibaura Android Laboratory / TECHNO -OM Project
7 Liar, Liar : ©2023 Haruki Kuou / KADOKAWA / Liar, Liar production committee
8 【OSHI NO KO 】: © Aka Akasaka x Yokoyari Mengo/ Shueisha ・ OSHI NO KO Production Committee
9 Exploratory heroic tales begin with mobs : ©Kaito, Hobby Japan / Begin with mobs Production Committee
10 【 OSHI NO KO 】2nd term: © Aka Akasaka x Yokoyari Mengo/ Shueisha ・ OSHI NO KO Production Committee
11 Project SEKAI the Movie: ©The broken world and Miku unable to sing: Project SEKAI the Movie: The broken world and Miku u nab le to sing” production committee
12 APOCALYPSE HOTEL: ©APOCALYPSE HOTEL production committee
13 The Summer Hikaru Died: © Mokumokuren /KADOKAWA ・The Summer Hikaru Died Production Committee
14 The catcher in the ballpark!: © Tatsuro Suga, Kodansha / “The Catcher in the Ballpark!” Production Committee
15 Nyaight of the Living Cat : © Hawkman, Mecha -Roots/ Mag Garden/ Nyailivi Production Committee
Copyrights of Media & IP Business on page 21

42
Copyrights of Game Business on Page 3 3
1 Granblue Fantasy Versus: Rising : © Cygames , Inc. Developed by ARC SYSTEM WORKS
2 Granblue Fantasy: Relink: © Cygames , Inc.
3 Jujutsu Kaisen Phantom Parade:© Gege Akutami / Shueisha , Jujutsu Kaisen Production Committee © Sumzap , Inc./TOHO CO., LTD.
4 Gakuen iDOLM@STER : THE IDOLM@STER & ©Bandai Namco Entertainment Inc.
Publisher: Bandai Namco Entertainment Inc./ Development and Operation: Consolidated subsidiary Qualiarts , Inc.
5 Umamusume : Pretty Derby –Party Dash : © Cygames , Inc. Developed by ARC SYSTEM WORKS
6 Jujutsu Kaisen Phantom Parade: © Gege Akutami /Shueisha , JUJUTSU KAISEN Project ©Sumzap , Inc./TOHO CO., LTD. All Rights Reserved. Published by BILIBILI HK LIMITED
7 Chiikawa Pocket: ©nagano / chiikawa committee
8 SAKAMOTO DAYS Dangerous Puzzle: ©Yuto Suzuki / Shueisha ・SAKAMOTO DAYS Production Committee© GOODROID,Inc . ALL Rights Reserved. CyberAgent Group.
9 SD Gundam G Generation ETERNAL ：©SOTSU ・SUNRISE ©SOTSU ・SUNRISE ・MBS Publisher: Bandai Namco Entertainment Inc. Co -developed by Bandai Namco Entertainment Inc. and Applibot , Inc.
10 Shadowverse : Worlds Beyond: © Cygames , Inc.
11 Umamusume : Pretty Derby : © Cygames , Inc.
12 Umamusume : Pretty Derby : © Cygames , Inc.
13 GARNET ARENA: Mages of Magicary : © Cygames , Inc.
14 Project Awakening :© Cygames , Inc.
Copyrights of Game Business on page 3 2
1 Project SEKAI : © SEGA / © Colorful Palette Inc. / © Crypton Future Media, INC. www.piapro.net All rights reserved.
2 PRINCESS CONNECT! Re:Dive : © Cygames , Inc.
3 Umamusume : Pretty Derby : © Cygames , Inc.
4 Chiikawa Pocket: © nagano / chiikawa committee
5 SAKAMOTO DAYS Dangerous Puzzle: ©Yuto Suzuki / Shueisha ・SAKAMOTO DAYS Production Committee© GOODROID,Inc . ALL Rights Reserved. CyberAgent Group.
6 Jujutsu Kaisen Phantom Parade: © Gege Akutami /Shueisha , JUJUTSU KAISEN Project ©Sumzap , Inc./TOHO CO., LTD. All Rights Reserved. Published by BILIBILI HK LIMITED