DeNA Co FY2024 Q3 Earnings Release

Q3 FY2024
Operating Results
February 7, 2025
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 Q3 QoQ
change
YoY
change Apr-De c Apr-De c YoY
change
Revenue (IFRS) 36.1 39.0 29.0 32.6 34.0 36.3 46.5 28% 60% 104.1 116.7 12%
Operating profit (IFRS) 1.7 3.1 -32.4 -0.6 1.9 3.6 15.5 333% – -27.6 21.0 –
Operating profit (Non-GAAP) 1.6 2.9 -4.9 1.5 2.1 4.0 15.5 290% – -0.3 21.6 –
Finance income / costs (net) 2.9 1.0 -1.6 0.9 2.7 -2.1 1.2 – – 2.3 1.8 -21%
1.4 0.1 -5.9 1.4 -0.2 0.0 0.4 2,721% – -4.4 0.3 –
Profit before tax 6.0 4.1 -39.9 1.7 4.5 1.4 17.1 1,084% – -29.8 23.0 –
4.6 2.8 -38.6 2.6 3.1 -0.1 12.8 – – -31.2 15.8 –
41.66 24.82 -346.98 22.91 27.40 -0.47 114.54 – – -280.51 141.48 –
Share of profit (loss) of associates
accounted for using the equity
method**
Profit for the period attributable to
owners of the parent
EPS (Yen)
FY2023 FY2024

4 *See slides 11 -12 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 Q3 QoQ
change
YoY
change Apr-Dec Apr-Dec YoY
change
Revenue 12.5 13.9 12.7 14.9 11.2 11.3 28.0 147% 120% 39.1 50.6 29%
Segment profit/loss 0.2 0.2 -0.2 3.2 0.9 1.5 18.6 1,131% – 0.3 21.0 8,127%
Revenue 10.8 11.0 10.8 10.0 10.2 10.4 10.3 -1% -4% 32.6 30.9 -5%
Segment profit/loss -0.2 0.1 0.5 -0.0 -0.6 -0.2 0.4 – -8% 0.4 -0.4 –
Revenue 10.2 11.0 2.4 3.6 10.0 11.5 4.9 -58% 104% 23.7 26.5 12%
Segment profit/loss 3.4 4.0 -3.0 -2.3 3.3 4.1 -2.4 – – 4.4 5.0 15%
Revenue 2.0 2.3 2.4 3.4 1.8 2.2 2.4 10% 2% 6.6 6.4 -2%
Segment profit/loss -1.2 -1.0 -0.9 -0.5 -1.4 -1.3 -0.9 – – -3.1 -3.5 –
Revenue 0.7 0.8 0.8 0.8 0.8 0.9 0.9 3% 13% 2.3 2.6 11%
Segment profit/loss -0.3 -0.3 -0.3 -0.4 -0.3 -0.2 -0.3 – – -0.9 -0.8 –
FY2024 FY2024
Healthcare
&
Medical
New
Businesses and
Others
Game
Live streaming
Sports*
FY2023

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 Q3 QoQ
change
YoY
change Apr-Dec Apr-Dec YoY
change
Cost of Sales 19.0 20.4 18.1 18.2 17.8 18.6 17.2 -7% -5% 57.5 53.6 -7%
Personnel Expenses 2.2 2.3 2.4 2.2 2.1 2.1 2.0 -5% -15% 6.9 6.2 -9%
Depreciation and amortization 1.0 1.3 1.6 0.8 0.9 0.9 0.9 2% -41% 3.9 2.7 -31%
Outsourcing expenses 4.5 4.9 3.9 4.4 4.3 4.3 4.2 -2% 9% 13.3 12.9 -3%
Commission fees 7.8 8.2 7.6 7.5 6.7 7.1 6.6 -6% -12% 23.5 20.5 -13%
Others 3.6 3.6 2.7 3.3 3.8 4.1 3.4 -18% 25% 10.0 11.3 14%
Selling, general, and administrative expenses 15.4 15.5 15.3 14.5 14.2 13.6 13.9 2% -10% 46.2 41.7 -10%
Personnel Expenses 4.6 4.5 4.6 4.3 4.5 4.3 4.6 7% 2% 13.7 13.5 -1%
Sales promotion & Advertising expenses 4.3 4.2 4.1 3.2 4.1 3.7 3.2 -13% -23% 12.6 11.0 -13%
Outsourcing expenses & Commission fees 4.4 5.1 4.5 4.7 3.9 4.0 4.2 7% -5% 14.0 12.1 -14%
Others 2.1 1.6 2.2 2.3 1.7 1.7 1.8 7% -20% 5.9 5.2 -12%
Other income* 0.2 0.1 0.2 1.5 0.2 0.1 0.6 557% 208% 0.4 0.9 126%
Other expenses* 0.2 0.1 28.2 2.1 0.2 0.6 0.5 -4% -98% 28.5 1.4 -95%
Consolidated employee headcount 3,079 3,061 2,960 2,897 2,767 2,646 2,653 0% -10% 2,960 2,653 -10%
FY2023 FY2024 FY2023 FY2024

66
2 . Progress for Each Business

*Virtual currency consumption refers to the total amount of money spent by users in the form of in -game currency consumption and monthly payments, etc., and the period of aggregation and recognition matches with segment revenue and profit/loss. For Pokémon Trading Card Game Pocket DeNA is engaged in joint development and live operations with other companies, and recognizes as revenue our portion of compensation, which is the total amount spent by users less the portion for other companies and settlement fees. Also, as described in the press release of December 9, 2024 titled “DeNA and 5X Conclude Capital & Business Partnership Agreement,” we are proceeding with migration of service for all titles handled by the DeNA China office to Tadpole Entertainment Company Limited, etc., and from December 2024 onward the performance of said titles is not included in virtual currency consumption or in segment revenue and profit/loss figures.
7
Game Business*
• Q3 virtual currency consumption & segment profit increased significantly quarter -over -quarter & year -over -year
• Major contribution from Pokémon Trading Card Game Pocket , which launched on October 30, 2024 in 150
countries and regions
FY 2023 FY2024
Game Business Segment Profit/Loss Virtual Currency Consumption
FY2023 FY2024
(billion) (billion yen)

Game Business
Pokémon Trading Card Game Pocket , a Pokémon card game for smartphones
 Great start, having achieved 60 million
downloads* globally in December 2024
*Announced on December 12, 2024
 This game has a very high retention rate
compared to other DeNA games, and a wide
variety of users are enjoying and engaging with
the game on a daily basis, including a large
number subscribed to the premium pass
 Now that the game is launched, proceeding
with implementing various measures, including
holding in -game events, implementing the
trading function, and adding new packs
 Planning updates and other measures to
ensure the game is enjoyed long term
© 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.
8

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 ” segment as of Q 1 FY 2024 . Figures on this slide for “Pococha ” and “IRIAM ” are for Japan only. Global initiatives for both services, etc. are included in “Others. ”
Live Streaming Business Revenue* Live Streaming Business Profit/Loss*
(billion yen)
Live Streaming Business
• Placing greater focus on profitability in the second half, and achieved profitability for Q3
FY 2023 FY2024 FY2023 FY 2024

Live Streaming Business*
• For Pococha reviewing the cost of marketing initiatives, etc. from the second half, and focusing on maintaining &
enhancing user engagement and securing profitability
• For IRIAM, prioritizing sound community development, and achieving solid growth. Aiming to achieve revenue
growth and early profitability
• Downloads as of December 31 , 2024 were 6.52 million for Pococha and 4.25 million for IRIAM*
FY2022 FY2023 FY 2024 FY2022 FY2023 FY 2024
IRIAM Monthly
Unique Paying User Trends
(Quarterly Average)
10
Pococha Monthly
Unique Paying User Trends
(Quarterly Average)
*Figures on this slide for both services are for Japan only. The definition for aggregation for IRIAM downloads was partially upd ated in Q1 FY2023.Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

11
Sports Business
• Solid performance, particularly for professional baseball, with a year -over -year increase in revenue and profit
*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*
Q1 –Q3
FY 2019
Q1 –Q3
FY2023
Q1 –Q3
FY2022
Q1 –Q3
FY 2021
Q1 –Q3
FY2020
Q1 –Q3
FY2024Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 36 21 12 3 34 33 5 0 33 37 1 3 32 35 2
FY2024 FY2021 FY2022 FY2023

• The stadium attendance for the 2024 season home games reached a record high for the team at 2.36 million*
• The Yokohama DeNA BayStars were the champions of the 2024 JERA Central League Climax Series, and the
champions of the SMBC Japan Series 2024
• Making steady progress in forming a strong, multi -layered business structure
12
Sports Business
Yokohama DeNA BayStars Revenue**
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.**Figures for 2012 –2015 are standalone, and from 2016 onward are consolidated revenue. Results for each year are for the 12-month period from January to December.
Sponsorships
Ticket sales
Other From this point joint operation with stadium following
Yokohama Stadium TOB
Merchandise /
Food & beverage

13 *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

14
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 up various data solution projects towards the fiscal
year -end
• 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 FY2022, we are proceeding with cost efficiency
efforts to achieve growth in the next fiscal year onward
(billion yen)Data Health
~De c. 2023 ~De c. 2024
3.25 bil yen 3.38 bil yen
FY 2023 FY 2024
(Results) (Expe cted)
472 Approx. 350
Data Use**
~De c. 2023 ~De c. 2024
1.06 bil yen 1.12 bil yen
~De c. 2023 ~De c. 2024
50 64
~De c. 2023 ~De c. 2024
28 28
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.
13% increase year-over-year 1.2 1.2 1.2
1.6
1.0 1.1 1.1
Q1 Q2 Q3 Q4 Q1 Q2 Q3
Data Use Business Data Health Business, etc.

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 33.
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
・・・
15
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 528 as of December 31, 2024, and examples of deployment through local
municipality subsidies, etc. expanded into 17 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
December 31
Partial update to aggregation definition*164 207 278 334
454 528
FY2019 FY2020 FY2021 FY2022 FY2023 FY2024

16
• 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 it is difficult at present to make reasonable and concrete forecasts, based
on the performance through Q3 DeNA expects significant year -on -year increases in revenue and profit.
No new titles are scheduled for release in Q4.
• With regard to the Live Streaming Business, a year -on -year decrease in revenue is expected. Initiatives
to secure profitability, including reviewing costs, etc., have been underway from the second half.
• With regard to the other businesses, DeNA will aim to increase both revenue and profit year -over -year
while continuing to invest for growth
Outlook for FY 2024
• The FY2024 consolidated financial results forecast is as follows

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

18
Non -GAAP
Operating Profit
FY2023 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
IFRS to Non -GAAP Reconciliation(billion yen) FY2023 FY2024
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Apr-Dec Apr-Dec
Reconciliation of Operating profit to Non-GAAP operating profit
Operating profit (IFRS) 1.7 3.1 -32.4 -0.6 1.9 3.6 15.5 -27.6 21.0
Accounting adjustments related to seasonality & one-time factors -0.1 -0.1 +0.1 +0.2 -0.1 -0.1 -0.1 -0.1 -0.2
Acquisition and restructuring related expenses – – +27.4 +2.0 +0.2 +0.5 +0.1 +27.4 +0.8
Sales and disposition related gains – – – – – – – – –
Non-GAAP operating profit 1.6 2.9 -4.9 1.5 2.1 4.0 15.5 -0.3 21.6
Profit (loss) from seasonal sports business -3.4 -4.0 +3.0 +2.3 -3.3 -4.1 +2.4 -4.4 -5.0
Non-GAAP operating profit excluding Sports -1.8 -1.1 -1.8 3.8 -1.2 -0.2 18.0 -4.7 16.6
(billion yen) FY2023 FY2024
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Apr-Dec Apr-Dec
Reconciliation of Operating profit to Non-GAAP EBITDA
Operating profit (IFRS) 1.7 3.1 -32.4 -0.6 1.9 3.6 15.5 -27.6 21.0
Accounting adjustments related to seasonality & one-time factors -0.1 -0.1 +0.1 +0.2 -0.1 -0.1 -0.1 -0.1 -0.2
Acquisition and restructuring related expenses – – +27.4 +2.0 +0.2 +0.5 +0.1 +27.4 +0.8
Sales and disposition related gains – – – – – – – – –
Depreciation and amortization +1.4 +1.8 +2.1 +1.3 +1.2 +1.2 +1.3 +5.3 +3.7
Retirement / impairment of fixed assets (excl. one-time factors) +0.1 +0.1 +0.7 +0.0 +0.0 +0.0 +0.1 +0.8 +0.1
Non-GAAP EBIT DA 3.1 4.8 -2.1 2.8 3.3 5.2 16.9 5.8 25.4
FY2023
FY2023
FY2024
FY2024

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Consolidated Cash Flows(billion yen) FY2023
Apr-Dec FY2023 FY2024
Apr-Dec
Operating cash flow (A) -9.7 -10.8 14.3
Profit before tax -29.8 -28.1 23.0
Depreciation and amortization 5.3 6.5 3.7
Impairment loss 27.7 28.8 0.2
Share of loss (profit) of associates accounted for using the equity method 4.4 3.0 -0.3
Decrease (increase) in trade and other current receivables 7.3 -1.8 -8.1
Increase (decrease) in trade and other current payables -1.9 0.9 -5.9
Interest and dividends received 2.1 2.1 1.6
Income tax paid and refund -17.8 -18.6 4.4
Others -7.0 -3.6 -4.4
Investing cash flow (B) -8.8 -12.6 -7.1
Financing cash flow -4.0 -4.1 -5.2
Proceeds from borrowings, net -0.3 -0.0 -1.7
Cash dividends paid -2.2 -2.2 -2.2
Purchase of treasury stock – – -0.0
Others -1.4 -1.9 -1.3
FCF ((A)+(B)) -18.5 -23.5 7.2
Cash and cash equivalents (Consolidated) 75.9 71.4 73.7
(Non-consolidated basis) 43.9 41.9 44.1

21
Consolidated Financial Position(billion yen) As of
Dec. 31, 2023 FY2023 As of
Dec. 31, 2024
Current assets 107.2 114.1 116.7
Cash and cash equivalents 75.9 71.4 73.7
Non-current assets 209.8 221.6 237.3
Property and equipment & Right-of-use assets 21.2 21.9 25.1
Goodwill 33.6 33.6 33.6
Intangible assets 17.2 17.8 19.2
Investments accounted for using the equity method 54.8 56.5 57.4
Other non-current financial assets 82.5 91.1 101.4
Total assets 317.0 335.7 354.0
Current liabilities 34.2 49.2 43.4
Borrowings 3.0 8.6 7.6
Non-current liabilities 69.8 66.5 71.3
Borrowings 34.4 29.2 28.3
Equity 213.0 220.0 239.3
Total equity attributable to owners of the parent 201.7 209.2 229.3
Total liabilities and equity 317.0 335.7 354.0

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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 using 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. (Q 1 FY 2020 ), DeNA SOMPO Mobility Co., Ltd. and DeNA SOMPO Carlife Co., Ltd. (Q 1 FY 2020 ) ・Live streaming business: SHOWROOM Inc. (Q 2 FY 2020 ) ・Healthcare & medical business: PFDeNA Inc. (Q 1 FY 2020 ) ・New businesses & others: Manga Box Co., Ltd. (Q 1 FY 2021 )
Segment Breakdown

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The information and data contained within this presentation and these presentation materials have been
determined based on information available as of February 7,2025 .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 February 7,2025 ,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 .