1 ΧελϚʔέΞ͕ఏڙ͢Δͭͷ69 CONFIDENTIAL INFORMATION: Not for Public Distribution - Do Not Copy

2 ҆৴ཽഅ Ryoma Yasunobu )FBEPG$VTUPNFS$BSF CONFIDENTIAL INFORMATION: Not for Public Distribution - Do Not Copy

3 ձࣾ֓ཁ ձ໊ࣾ ɹגࣜձࣾΤ΢ϨΧFVSFLB *OD ૑ۀ ɹ೥݄೔ ܦӦਞ ɹ$&0ɹɹɹɹɹɹɹɹɹੴڮ४໵ɹɹɹɹ ɹ$10$.0ɹɹɹɹɹɹதଜ༟Ұ ɹ$50ɹɹɹɹɹɹɹɹۚࢠ৻ଠ࿠ ɹ71PG(MPCBM&YQBOTJPOɹߑऎӬ ɹ'JOBODF%JSFDUPSɹɹɹɹ"OESFX#BEIBN ࣄۀ಺༰ ɹࣗࣾαʔϏεͷاըɾ։ൃɾӡӦ ɹɾΦϯϥΠϯɾσʔςΟϯάɾαʔϏεʮ1BJSTʯ ɹɾΧοϓϧઐ༻ΞϓϦʮ$PVQMFTʯ CONFIDENTIAL INFORMATION: Not for Public Distribution - Do Not Copy

4 CONFIDENTIAL INFORMATION: Not for Public Distribution - Do Not Copy ͔͚͕͑ͷͳ͍ਓͱͷग़ձ͍ΛੜΈग़͠ɺ ೔ຊɺΞδΞʹσʔςΟϯάจԽΛఆணͤ͞Δɻ 5PIFMQQFPQMFpOEUIFJSMJGFQBSUOFSBOENBLFEBUJOHTFSWJDFTBTPDJBMOPSNJO+BQBOBOE"TJB Τ΢ϨΧͷϏδϣϯ

5 Ϛονάϧʔϓʹ͍ͭͯ αʔϏεల։ࠃɾݴޠ ࣌Ձ૯ֹ 10ԯυϧ גՁ ˈ ݄ ݄ ݄ ݄ ݄ ݄ ݄ ݄ ݄ ݄ ݄ ݄ ."6 6,000ສMAU ʜ Ҏ্ͷαʔϏεΛੈքʹల։ NASDAQΑΓ 190ϲࠃ42ݴޠ CONFIDENTIAL INFORMATION: Not for Public Distribution - Do Not Copy

4PVUI,PSFB Japan Taiwan 2012 Release 2017 Release 2013 Release 6 1BJSTʹ͍ͭͯ ల։ࠃ ̐ͭͷϓϥοτϑΥʔϜ CONFIDENTIAL INFORMATION: Not for Public Distribution - Do Not Copy

7 1BJSTͷن໛ ձһ਺ͷਪҠ 2,000,000 4,000,000 6,000,000 8,000,000 2012 2013 2014 2015 2016 2017 2018 +1 58 ,3 1BJSTͰ࿀ਓ͕Ͱ͖ͨਓ਺ʢ೔ຊʣ ྦྷܭϚονϯά਺ʢ೔ɾ୆ɾؖʣ 5,600ສ૊ 12,500 25,000 37,500 50,000 2014 2015 2016 2017 45,395 37,385 28,246 2,396 ˞ୀձऀΞϯέʔτΑΓ ೥ਪܭೖ੶ऀ਺ʢ೔ຊʣ ਪܭ18,500ਓ ˞೔ຊɺ୆࿷ɺؖࠃ૯ܭ ˞ୀձऀΞϯέʔτΑΓ ೥ޙʹ݁ࠗͨ͠ɾ͢Δ༧ఆͷׂ߹ʢ೔ຊʣ ˞ୀձऀΞϯέʔτΑΓ 6% 45% 28% 21% ͍݁ࠗͯ͠Δ ݁ࠗͷ༧ఆ͕͋Δ ͍݁ࠗͨ͠ͱߟ͍͑ͯΔ ͳ͍ 49% CONFIDENTIAL INFORMATION: Not for Public Distribution - Do Not Copy ສਓ ಥഁ

8 ΧελϚʔέΞ͕ఏڙ͢Δͭͷ69 CONFIDENTIAL INFORMATION: Not for Public Distribution - Do Not Copy

9 ϝΠϯ͸ͭ ໰߹ͤରԠ ϝʔϧɾνϟοτ ౤ߘ؂ࢹ ύτϩʔϧ ΧελϚʔέΞͷϑΝϯΫγϣϯ

10 5SVTU ΑΓ৴པͰ͖Δ؀ڥͷ੔උ CONFIDENTIAL INFORMATION: Not for Public Distribution - Do Not Copy ΧελϚʔέΞ͕ఏڙ͢Δͭͷ69 $'. ༑ୡͷΑ͏ͳؔ܎࿀Ѫαϙʔλʔ

11 5SVTUʢΑΓ৴པͰ͖Δ؀ڥͷ੔උʣͷऔΓ૊Έࣄྫ঺հ ΦϖϨʔλʔ ᶃ࣌ؒ೔ΧελϚʔέΞͷ׬શΠϯϋ΢εԽ ʢ೥݄೔ʙʣ ࣌ؒଳผ໰߹ͤൺ཰ 0.0% 2.0% 4.0% 6.0% 8.0% 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 CONFIDENTIAL INFORMATION: Not for Public Distribution - Do Not Copy ֤ϨεϙϯελΠϜͷ୹ॖ 2෼ͷ1 ۀքॳ

12 5SVTUʢΑΓ৴པͰ͖Δ؀ڥͷ੔උʣͷऔΓ૊Έࣄྫ঺հ CONFIDENTIAL INFORMATION: Not for Public Distribution - Do Not Copy ᶄ҆৺҆શͷ؅ཧମ੍ ొ࿥ ݕࡧɾϚονϯά ϝοηʔδަ׵ ࣮ࡍʹձ͏ ഉআ ഉআ ഉআ ෆਖ਼ͳϢʔβʔ ਖ਼౰ͳϢʔβʔ ˙γεςϜʹΑΔϑΟϧλϦϯά σόΠεೝূΛ༻͍ͯొ࿥Λ؂ࢹ ˙'BDFCPPLϩάΠϯ
 ೥ྸ֬ೝ
 ɹࡀະຬΛഉআ
 ަࡍεςʔλε֬ೝ
 ɹަࡍத΍݁ࠗͷεςʔλεͷਓΛഉআ ༑ୡ਺Λ֬ೝ ѱಙۀऀΛഉআ ˙4.4ϩάΠϯ ˙ΦϖϨʔλγεςϜʹΑΔ؂ࢹ ϓϩϑΟʔϧจষࣸਅͷ౤ߘલݕӾ ˙γεςϜʹΑΔϑΟϧλϦϯά
 "*Λ༻͍ͯར༻ऀͷߦಈΛ؂ࢹ ˙ΧελϚʔέΞ
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 ΧελϚʔαϙʔτ
 ˙ར༻ऀ͔Βͷҧ൓ใࠂ ˙ΦϖϨʔλʹΑΔ໨ࢹͰͷ೥ྸ֬ೝ ϝοηʔδલʹެతূ໌ॻͰ೥ྸ֬ೝ ˙ΦϖϨʔλγεςϜʹΑΔ؂ࢹ
 ϝοηʔδจষࣸਅͷ౤ߘલݕӾ
 ˙γεςϜʹΑΔϑΟϧλϦϯά
 "*Λ༻͍ͯར༻ऀͷߦಈΛ؂ࢹ ˙ΧελϚʔέΞ
 ύτϩʔϧ
 ΧελϚʔαϙʔτ
 ˙ར༻ऀ͔Βͷҧ൓ใࠂ

13 ᶆνϟοταϙʔτʹΑΔ ΑΓεϐʔσΟͳΧελϚʔέΞͷ࣮ݱ 5SVTUʢΑΓ৴པͰ͖Δ؀ڥͷ੔උʣͷऔΓ૊Έࣄྫ঺հ CONFIDENTIAL INFORMATION: Not for Public Distribution - Do Not Copy ᶅ70$ΛϓϩμΫτʹ൓ө͢Δମ੍ 9ਓ 27ਓ 7ਓ εʔύʔόΠβʔ ϓϩμΫτνʔϜ ΦϖϨʔλ

14 5SVTUʢΑΓ৴པͰ͖Δ؀ڥͷ੔උʣͷऔΓ૊Έࣄྫ঺հ CONFIDENTIAL INFORMATION: Not for Public Distribution - Do Not Copy ᶇΧελϚʔέΞϨϙʔτͷެ։ ΑΓϢʔβʔ͕҆৺ͯ͠1BJSTΛ͝ར༻͍͚ͨͩΔΑ͏ɺ ΧελϚʔέΞʹدͤΒΕͨʮ໰߹ͤʯ΍ʮۤ৘ʯʹ ؔ͢Δ৘ใΛXFC্Ͱެ։༧ఆ˞೥ճ લظͱޙظ

15 $'.ʢ༑ୡͷΑ͏ͳؔ܎࿀Ѫαϙʔλʔʣͱ͸ CONFIDENTIAL INFORMATION: Not for Public Distribution - Do Not Copy ༑ୡͷΑ͏ͳؔ܎ʮ࿀Ѫαϙʔλʔʯ ैདྷͷ$3. $VTUPNFS3FMBUJPOTIJQ.BOBHFNFOU ͸ ɹސ٬ͱ௕ظతʹ༑޷ͳؔ܎Λங͘͜ͱ͕ͩɺαʔϏεʹΑͬͯ͸ ɹ௕ظతͳؔ܎͕ඞͣ͠΋ຬ଍౓ʹܨ͕ΔΘ͚Ͱ͸ͳ͍ ࿀Ѫʹؔ͢Δ૬ஊ͸༑ୡʹ͢Δ΋ͷ

16 $'.ʢ༑ୡͷΑ͏ͳؔ܎࿀ѪαϙʔλʔʣͷऔΓ૊Έࣄྫ঺հ CONFIDENTIAL INFORMATION: Not for Public Distribution - Do Not Copy ܒ໤׆ಈɾ஫ҙשىͷڧԽ ѱҙΛ࣋ͬͨϢʔβʔʹΑΔ൜ࡑ๷ࢭͷͨΊͷܒ໤׆ಈ ར༻ܦݧ͕গͳ͍Ϣʔβʔʹର͢Δར༻ΨΠυɾ๷൜ڭҭͷఏڙ ˠϚονάϧʔϓʮ4BGFUFZDPNNJUFFʯͷφϨοδΛ׆༻ ରϢʔβʔ޲͚

17 ఆظతʹϫʔΫγϣοϓΛ։࠵ɺ ϝϯόʔͷϨϕϧΞοϓΛਤͬͯ ʮ࿀ѪαϙʔλʔʯΛ໨ࢦ͢ 1BJSTΧελϚʔέΞͳΒͰ͸ͷ ؾ഑Γɾࢥ͍΍ΓΛ૑଄͢Δ ײಈମݧͷڞ༗ 4JUVBUJPO8PSL ྑ͍ͱ͜ΖΛ ݟ͚ͭͯ๙ΊΔ CONFIDENTIAL INFORMATION: Not for Public Distribution - Do Not Copy $'.ʢ༑ୡͷΑ͏ͳؔ܎࿀ѪαϙʔλʔʣͷऔΓ૊Έࣄྫ঺հ ରϝϯόʔ޲͚

18 CONFIDENTIAL INFORMATION: Not for Public Distribution - Do Not Copy 5IBOLZPV