DeNA Co FY2024 Q2 Earnings Release

Nov, 2024 Q2 FY2024
Operating Results
November 6, 2024
DeNA Co., Ltd.
©︎ DeNA Co., Ltd. 1

22
1 . Financial Results Summary

Financial Results Summary*
3
*For full reconciliation of IFRS to Non -GAAP metrics, the calculation process, Non -GAAP EBITDA, and Sports Business seasonality, please see the reference materials at the end of the presentation.**This includes the recognition in Q1 FY2023 of a one -time gain in earnings of 2.4 billion yen due to capital increase through a third -party allotment by GO Inc., and the recognition in Q3 FY2023 of a one -time loss of 5.9 billion yen related to SHOWROOM. For more details refer to the disclosures of February 7, 2024 titled “Notice Regarding Recognition of Impairment Loss, Etc.” and “Consolidated Financial Results for the Nine Months Ended December 31, 2023 [IFRS]. ”(billion yen) FY2023 FY2024
Q1 Q2 Q3 Q4 Q1 Q2 QoQ
change
YoY
change Apr-Sep Apr-Sep YoY
change
Revenue (IFRS) 36.1 39.0 29.0 32.6 34.0 36.3 7% -7% 75.1 70.3 -7%
Operating profit (IFRS) 1.7 3.1 -32.4 -0.6 1.9 3.6 87% 17% 4.8 5.5 14%
Operating profit (Non-GAAP) 1.6 2.9 -4.9 1.5 2.1 4.0 90% 35% 4.6 6.1 32%
Finance income / costs (net) 2.9 1.0 -1.6 0.9 2.7 -2.1 – – 3.9 0.6 -85%
1.4 0.1 -5.9 1.4 -0.2 0.0 – -82% 1.5 -0.2 –
Profit before tax 6.0 4.1 -39.9 1.7 4.5 1.4 -68% -65% 10.1 5.9 -41%
4.6 2.8 -38.6 2.6 3.1 -0.1 – – 7.4 3.0 -59%
41.66 24.82 -346.98 22.91 27.40 -0.47 – – 66.48 26.94 -59%
Share of profit (loss) of associates
accounted for using the equity
method**
Profit for the period attributable to
ow ners of the parent
EPS (Yen)
FY2023 FY2024

4 *See slides 12 -13 for the seasonality of the Sports Business and status of matches for each quarter.
Financial Results Summary: Financial Results by Segment(billion yen) FY2023
Q1 Q2 Q3 Q4 Q1 Q2 QoQ
change
YoY
change Apr-Sep Apr-Sep YoY
change
Revenue 12.5 13.9 12.7 14.9 11.2 11.3 1% -18% 26.4 22.5 -14%
Segment profit/loss 0.2 0.2 -0.2 3.2 0.9 1.5 75% 620% 0.4 2.4 463%
Revenue 10.8 11.0 10.8 10.0 10.2 10.4 2% -5% 21.8 20.6 -6%
Segment profit/loss -0.2 0.1 0.5 -0.0 -0.6 -0.2 – – -0.1 -0.8 –
Revenue 10.2 11.0 2.4 3.6 10.0 11.5 15% 5% 21.3 21.6 1%
Segment profit/loss 3.4 4.0 -3.0 -2.3 3.3 4.1 24% 3% 7.4 7.5 1%
Revenue 2.0 2.3 2.4 3.4 1.8 2.2 19% -3% 4.2 4.0 -5%
Segment profit/loss -1.2 -1.0 -0.9 -0.5 -1.4 -1.3 – – -2.2 -2.6 –
Revenue 0.7 0.8 0.8 0.8 0.8 0.9 4% 5% 1.5 1.7 10%
Segment profit/loss -0.3 -0.3 -0.3 -0.4 -0.3 -0.2 – – -0.6 -0.5 –
FY2023
Healthcare
&
Medical
New
Businesses and
Others
Game
Live streaming
Sports*
FY2024 FY2024

5 *Includes non -operating income / expenses and extraordinary income / expenses, excluding finance income / costs under Japanese GA AP (e.g. Loss on sales / retirement of tangible / intangible assets).
Financial Results Summary: Cost and Expense Breakdown(billion yen)
Q1 Q2 Q3 Q4 Q1 Q2 QoQ
change
YoY
change Apr-Se p Apr-Se p YoY
change
Cost of Sales 19.0 20.4 18.1 18.2 17.8 18.6 5% -9% 39.4 36.4 -8%
Personnel Expenses 2.2 2.3 2.4 2.2 2.1 2.1 -1% -11% 4.5 4.2 -6%
Depreciation and amortization 1.0 1.3 1.6 0.8 0.9 0.9 6% -32% 2.3 1.8 -24%
Outsourcing expenses 4.5 4.9 3.9 4.4 4.3 4.3 1% -11% 9.4 8.7 -8%
Commission fees 7.8 8.2 7.6 7.5 6.7 7.1 6% -13% 16.0 13.8 -13%
Others 3.6 3.6 2.7 3.3 3.8 4.1 10% 15% 7.2 7.9 9%
Selling, general, and administrative expenses 15.4 15.5 15.3 14.5 14.2 13.6 -4% -12% 30.9 27.9 -10%
Personnel Expenses 4.6 4.5 4.6 4.3 4.5 4.3 -3 % -3% 9.1 8.8 -3%
Sales promotion & Advertising expenses 4.3 4.2 4.1 3.2 4.1 3.7 -1 1 % -13% 8.5 7.8 -8%
Outsourcing expenses & Commission fees 4.4 5.1 4.5 4.7 3.9 4.0 3% -23% 9.5 7.8 -18%
Others 2.1 1.6 2.2 2.3 1.7 1.7 -4% 3% 3.7 3.4 -8%
Other income* 0.2 0.1 0.2 1.5 0.2 0.1 -51% 91% 0.2 0.3 43%
Other expenses* 0.2 0.1 28.2 2.1 0.2 0.6 131% 351% 0.3 0.8 167%
Consolidated employee headcount 3,079 3,061 2,960 2,897 2,767 2,646 -4% -14% 3,061 2,646 -14%
FY2023 FY2024 FY2023 FY2024

66
2 . Progress for Each Business

7
Game Business
• First half profit increased year -over -year
• Making steady progress in significant downsizing of the Game Business in China announced in February 2024
FY 2023 FY2024
Game Business Segment Profit/Loss Virtual Currency Consumption
FY 2023 FY2024
(billion) (billion yen)8.3 9.2 10.1 13.5
8.2 9.3
6.7 7.7 6.3
7.8
6.0 6.9
7.5 7.6 7.4
7.1
6.1 5.9
22.5 24.5 23.8
28.4
20.3 22.1
Q1 Q2 Q3 Q4 Q1 Q2
International app Japan app Japan browser 0.2 0.2
-0.2
3.2
0.9
1.5
Q1 Q2 Q3 Q4 Q1 Q2

8
Game Business
Pokémon Trading Card Game Pocket , a Pokémon card game for smartphones
 App that lets you casually collect globally –
beloved Pokémon cards
 Service launched on October 30, 2024 in 150
countries and regions
 Off to a good start, having quickly achieved
10 million downloads* globally
*Announced on November 1, 2024
 Planning various measures to ensure the
game is enjoyed long term, including in -game
events and various updates such as
implementing the trading function © 2024 Pokémon. © 1995 -2024 Nintendo / Creatures Inc. / GAME FREAK inc. © 2024 DeNA Co., Ltd. Pokémon is a registered trademark of Nintendo, Creatures, and GAME FREAK.Screenshots are from a title under development.

9 *The revenue and profit/loss figures for each segment in the breakdown shown above are from management accounting for referen ce purposes. Definition for aggregation partially updated for costs in Q 1 FY 2024 . Some costs previously included in “Others ” are included in the “Pococha Japan ” segment as of Q 1 FY 2024 .
Live Streaming Business Revenue*
(billion yen)
Live Streaming Business Profit/Loss*
(billion yen)
Live Streaming Business
• In Pococha Japan, enhanced marketing, including TV commercials, in the first half of FY2024
• Placing greater focus on profitability, and aim for buildup of profit towards the second half
FY2023 FY 2024 FY2023 FY 20249.0 9.1 8.7 8.0 8.0 8.1
1.5 1.6 1.8 1.8 2.0 2.2
0.3 0.3 0.3 0.2 0.2 0.2
10.8 11.0 10.8 10.0 10.2 10.4
Q1 Q2 Q3 Q4 Q1 Q2
Pococha Japan IRIAM Others (Global Pococha, etc.)
(billion yen) 1.1 1.2 1.3
0.6
-0.1 0.3
-0.4 -0.4 -0.3 -0.3 -0.2 -0.3
-0.9 -0.7 -0.5 -0.3 -0.2 -0.2
-0.2 0.1 0.5
-0.0
-0.6 -0.2
Q1 Q2 Q3 Q4 Q1 Q2
Pococha Japan IRIAM Others (Global Pococha, etc.)

Live Streaming Business: Pococha Japan
• Strengthened TV & other marketing in the first half with the aim to spread awareness of Pococha , and downloads
in Japan reached 6.32 million as of September 30 , 2024
• Revenue contribution was limited, so reviewing the cost of marketing initiatives, etc. from the second half
• Focusing on maintaining & enhancing user engagement and securing profitability
FY2022 FY2023 FY2024 FY 2022 FY2023 FY 2024
Average Viewing Time Trends
(Per Active User)
Monthly Unique Paying User Trends
(Quarterly Average)
10
(hours)0
5
10
15
20
25
30
35
40
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

11
FY 2023
Monthly Average DAU
FY 2022
Monthly Unique Paying Users
FY 2023 FY2022
*Definition for aggregation partially updated in Q1 FY2023.
FY2024 FY 2024
Live Streaming Business: IRIAM
• IRIAM achieved 3.91 million downloads* as of September 30 , 2024 , and continues to see active use
• Prioritizing sound community development, while also aiming to achieve revenue growth and early profitabilityQ1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

12
Sports Business
• Solid performance for the first half
*Supplemental information regarding the number of home games (including Climax Series) held per quarter for the highly season al baseball business:
Sports Business Revenue and Profit/Loss*
FY 2023 FY2022 FY 2024 FY20215.8
3.6 2.8 2.4
7.9 7.9
3.0 2.1
10.2 11.0
2.4 3.6
10.0
11.5
1.0
-0.3 -1.3 -2.0
2.6 2.0
-1.8 -2.8
3.4 4.0
-3.0 -2.3
3.3 4.1
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Sports revenue Sports profit/loss
(billion yen) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 36 21 12 3 34 33 5 0 33 37 1 3 32 35
FY2024 FY2021 FY2022 FY2023

• The stadium attendance for the 2024 season home games reached a record high for the team
• The Yokohama DeNA BayStars were the champions of the 2024 JERA Central League Climax Series, and the
champions of the SMBC Japan Series 2024
13
Sports Business
Yokohama DeNA BayStars Stadium Attendance*
COVID -19 attendance restrictions
*The data is for official home games for the Yokohama DeNA BayStars for each year (including home games held outside Yokohama Stadium). This does not include the attendance for the Climax Series or the Japan Series.
(million people)

14 *The figures shown on this slide are on a management accounting basis, not including asset -related amortization costs, etc., whi ch have begun to be recognized upon completion of PPA, and do not match the segment results.
Healthcare & Medical Business Revenue
(billion yen)
Healthcare & Medical Business Profit/Loss
(billion yen)
FY2023 FY 2024 FY2023 FY 2024
Healthcare & Medical Business*
• Each area making progress towards year -over -year increase in full -year revenue and profit -0.2 -0.3 -0.3 -0.0
-0.5 -0.5
-0.9 -0.7 -0.6
-0.4
-0.9 -0.8
-1.1 -1.0 -0.9
-0.5
-1.4 -1.2
Q1 Q2 Q3 Q4 Q1 Q2
Medical Area Healthcare Area, etc. 1.2 1.2 1.2 1.6
1.0 1.1
0.8 1.1 1.2
1.8
0.9 1.1
2.0
2.3 2.4
3.4
1.9
2.2
Q1 Q2 Q3 Q4 Q1 Q2
Medical Area Healthcare Area, etc.

15
Healthcare Area Revenue Breakdown
*Fiscal year here is the customers’ fiscal year. FY2024 orders are through March 2025. **In the “FY2023 Operating Results” materials some definitions were updated, such as for name aggregation, etc., and the data for the no. of clients and transaction amount per customer was updated. The above chart shows the results updated to the new definition, including for past results.
FY 2023 FY2024
Healthcare Area KPI
Healthcare & Medical Business: Healthcare Area
• In the Data Use Business, making progress in building pipeline towards the demand period in the second half
• For Data Health, it is no longer the Japanese government Data Health Plan formulation year. While the no. of
orders is expected to decline year -over -year to a level similar to FY 2022 , we are proceeding with cost efficiency
efforts to achieve growth in the next fiscal year onward
(billion yen)1.2 1.2 1.2
1.6
1.0 1.1
Q1 Q2 Q3 Q4 Q1 Q2
Data Use Business Data Health Business, etc. Data Health
~Sep. 2023 ~Sep. 2024
3.25 bil yen 3.40 bil yen
FY 2023 FY 2024
(Results) (Expe cted)
472 Approx. 350
Data Use**
~Sep. 2023 ~Sep. 2024
0.84 bil yen 1.10 bil yen
~Sep. 2023 ~Sep. 2024
42 61
~Sep. 2023 ~Sep. 2024
23 29
T ransaction
Amount Per
Customer
(Past 12 m onths)
Pharm ace utical
Com panies, e tc.
No. of Orders from Municipal
National Health Insurance*
(full fiscal y e ar)
Revenue (Past 12 m onths)
Revenue (Past 12 m onths)
No. of Clients
(Past 12 m onths)
Ove rall
Pharm ace utical
Com panies, e tc.
26% increase year-over-year

Evolve as a Platform
(Develop application)
Accelerate Regional Expansion
(Form medical personnel communication platform)
Individual Approach
(Build relationship with
Key Opinion Leaders)
Expected market size*:
Several hundred billion yen
*Calculated based on eligible facilities, etc. in Japan**This is an aggregation of only normal paying institutions. Facilities with an exceptional use, such as use for a demo or fo r C OVID -19, are excluded. Aggregation definitions were partially updated from FY 2024 . The increase in the number of facilities since March 31, 2024 excluding the impact of the update is 28.
Expected market size*: Around 10.0 billion yen
Join platform customer base
expansion
(Further insurance coverage, expanding area, etc.)
Sensors & IoT
x AI
Medical services,
data use,
platform
business
・・・
16
Facilities using
Join in Japan**
Healthcare & Medical Business: Medical Area
• Expect acceleration in individual facility deployment in each region this fiscal year through various efforts, including supp ort from
the national government’s medical digital transformation & working style reform initiatives
• The number of facilities using Join in Japan grew to 523 as of September 30, 2024, and examples of deployment through local
municipality subsidies, etc. expanded into 16 prefectures
• Making progress in detailed discussions for projects leveraging Join Mobile Care, which combines portable medical devices and
Join, to address regional medical resource shortages with the aim to achieve contribution this fiscal year
As of
September 30
Partial update to aggregation definition*164 207 278 334
454 523
FY2019 FY2020 FY2021 FY2022 FY2023 FY2024

17
Reference Materials
 Key Focus for Next 3 Years (Disclosed May 8, 2024 )
 Outlook for FY 2024 (Disclosed May 8, 2024 )
 IFRS to Non -GAAP Reconciliation
 Consolidated Cash Flows
 Consolidated Financial Position
 Segment Breakdown

18
Non -GAAP
Operating Profit
FY 2023 Results
1.2 billion yen
Non -GAAP
Operating Profit
FY2026 Commitment
15.0 billion yen
 Aim to achieve profit increases every year for the next 3
years, and commit to 15.0 billion yen in non -GAAP operating
profit for FY 2026
 Due to the difficulty of reasonably forecasting a major game
hit, etc., that possibility is considered upside potential
relative to the commitment
 Expectations for growth in Sports & the Community as well
as Medical, which have both had their foundations
established over the past 3 years
 Aim to achieve the previously shared annual profit goals of
5.0 billion yen for Healthcare & Medical and 3.0 billion yen
for Sports & the Community over the next 3 years
 Focus on establishing structural strengths in each business
to achieve continued growth beyond FY 2026
Key Focus for Next 3 Years (Disclosed May 8, 2024)
• Establish group of businesses with structural & continued growth, and aim for each business to achieve
meaningful profit contribution
• Focus on increasing capital efficiency & ROE, with consideration for capital cost

19
• The consolidated financial results forecast cannot be provided due to the difficulty of reasonably &
accurately estimating the figures
• Full -year revenue is expected to increase year -over -year, in conjunction with changes to and
strengthening of the business portfolio
• Non -GAAP operating profit expected, with a year -over -year increase
• In the Game Business, while DeNA expects to be affected by the trends in existing titles and the
significant downsizing of the China office, we plan to release about three new titles. However, DeNA
believes that it is difficult to reasonably calculate and provide a concrete outlook at the present time
• With regard to the Live Streaming Business, the Sports Business, and the Healthcare & Medical
Business, DeNA will aim to increase both revenue and profit while continuing to invest for growth
• There are no items to be disclosed that could be construed as one -off factors impacting business
performance
Outlook for FY2024 (Disclosed May 8, 2024)
• The FY 2024 consolidated financial results forecast is as follows

20
IFRS to Non -GAAP Reconciliation(billion yen) FY2023 FY2024
Q1 Q2 Q3 Q4 Q1 Q2 Apr-Sep Apr-Sep
Reconciliation of Operating profit to Non-GAAP operating profit
Operating profit (IFRS) 1.7 3.1 -32.4 -0.6 1.9 3.6 4.8 5.5
Accounting adjustments related to seasonality & one-time factors -0.1 -0.1 +0.1 +0.2 -0.1 -0.1 -0.2 -0.1
Acquisition and restructuring related expenses – – +27.4 +2.0 +0.2 +0.5 – +0.7
Sales and disposition related gains – – – – – – – –
Non-GAAP operating profit 1.6 2.9 -4.9 1.5 2.1 4.0 4.6 6.1
Profit (loss) from seasonal sports business -3.4 -4.0 +3.0 +2.3 -3.3 -4.1 -7.4 -7.5
Non-GAAP operating profit excluding Sports -1.8 -1.1 -1.8 3.8 -1.2 -0.2 -2.9 -1.4
(billion yen) FY2023 FY2024
Q1 Q2 Q3 Q4 Q1 Q2 Apr-Sep Apr-Sep
Reconciliation of Operating profit to Non-GAAP EBITDA
Operating profit (IFRS) 1.7 3.1 -32.4 -0.6 1.9 3.6 4.8 5.5
Accounting adjustments related to seasonality & one-time factors -0.1 -0.1 +0.1 +0.2 -0.1 -0.1 -0.2 -0.1
Acquisition and restructuring related expenses – – +27.4 +2.0 +0.2 +0.5 – +0.7
Sales and disposition related gains – – – – – – – –
Depreciation and amortization +1.4 +1.8 +2.1 +1.3 +1.2 +1.2 +3.2 +2.4
Retirement / impairment of fixed assets (excl. one-time factors) +0.1 +0.1 +0.7 +0.0 +0.0 +0.0 +0.2 +0.0
Non-GAAP EBIT DA 3.1 4.8 -2.1 2.8 3.3 5.2 8.0 8.5
FY2023
FY2023
FY2024
FY2024

21
Consolidated Cash Flows
*The FY2023 full year results include impairment losses on assets including software and goodwill (approximately 28.8 million yen).(billion yen) FY2023
Apr-Sep FY2023 FY2024
Apr-Sep
Operating cash flow (A) -4.4 -10.8 14.6
Profit before tax 10.1 -28.1 5.9
Depreciation and amortization 3.2 6.5 2.4
Share of loss (profit) of associates accounted for using the equity method -1.5 3.0 0.2
Decrease (increase) in trade and other current receivables 7.3 -1.8 11.6
Increase (decrease) in trade and other current payables -3.7 0.9 -4.1
Interest and dividends received 1.3 2.1 1.3
Income tax paid and refund -11.8 -18.6 4.8
Others* -9.3 25.2 -7.4
Investing cash flow (B) -6.5 -12.6 -5.1
Financing cash flow -3.9 -4.1 -5.1
Proceeds from borrowings, net -0.9 -0.0 -2.0
Cash dividends paid -2.2 -2.2 -2.2
Purchase of treasury stock – – -0.0
Others -0.7 -1.9 -0.9
FCF ((A)+(B)) -10.9 -23.5 9.6
Cash and cash equivalents (Consolidated) 84.2 71.4 75.6
(Non-consolidated basis) 50.2 41.9 44.3

22
Consolidated Financial Position(billion yen) As of
Sep. 30, 2023 FY2023 As of
Sep. 30, 2024
Current assets 113.0 114.1 100.2
Cash and cash equivalents 84.2 71.4 75.6
Non-current assets 232.6 221.6 221.9
Property and equipment & Right-of-use assets 22.1 21.9 24.8
Goodwill 49.1 33.6 33.6
Intangible assets 24.2 17.8 18.9
Investments accounted for using the equity method 60.7 56.5 56.7
Other non-current financial assets 74.2 91.1 87.3
Total assets 345.6 335.7 322.1
Current liabilities 32.4 49.2 37.3
Borrowings 2.3 8.6 7.0
Non-current liabilities 67.0 66.5 67.4
Borrowings 34.6 29.2 28.6
Equity 246.2 220.0 217.4
Total equity attributable to owners of the parent 234.0 209.2 206.9
Total liabilities and equity 345.6 335.7 322.1

23
Segment Businesses
Game Business Japan and international game businesses
Live Streaming Business Japan and international Pococha , IRIAM, etc.
Sports Business Baseball, basketball, soccer, etc.
Healthcare & Medical Business Health big data related services, Japan and international medical
digital transformation related services
New Businesses & Others Previous E -commerce business, previous Automotive business, and
other new businesses, etc.
*The financial results of the following companies became included in “Share of profit (loss) of associates accounted for usin g the equity method” in the consolidated income statement and became excluded from segment results as of the timing stated in the parenthesis. ・Previous Automotive business: GO Inc. (Q1 FY2020),DeNA SOMPO Mobility Co., Ltd. and DeNA SOMPO Carlife Co., Ltd. (Q1 FY2020) ・Live streaming business: SHOWROOM Inc. (Q2 FY2020) ・Healthcare & medical business: PFDeNA Inc. (Q1 FY2020) ・New businesses & others: Manga Box Co., Ltd. (Q1 FY2021)
Segment Breakdown

We delight people beyond their wildest dreams
The information and data contained within this presentation and these presentation materials have been
determined based on information available as of November 6,2024 .The company disclaims any obligation to update
or revise such information and data, whether as aresult of new information, future events or otherwise .
In addition, any forward -looking statements contained in this presentation or these presentation materials are based
on our opinions and information available as of November 6,2024 ,and involve uncertainty .Please be aware that the
actual performance data and similar information are subject to influence from diverse factors and may differ from the
forecasts presented herein .