FY2012 Q3 Financial ResultsMarch, 2013

COOKPAD Inc.

Highlights of FY2012 Q3

■ Total sales increased by 27.0% y/y thanks to growth of Premium Services Business.

■ Paid members increased at a steady pace, growing to over 900,000 people.

■ Ad business increased due to growth of Banner sales.

2

Summary of Business Conditions

　

FY2011 Q3(9 months)

FY2012 Q3(9 months) y/y

Net sales 2,790 3,544 +27.0％

OperatingIncome 1,359 1,875 +37.9％

OrdinaryIncome 1,317 1,865 +41.6％

Net Income 766 1,151 +50.3％

（¥ million）

3

Net Sales increase/decrease

0

800

1,600

2,400

3,200

4,000

FY2011 Q3 (9months) FY2012 Q3 (9 months)

1,359

1,106

2,1841,683

Premium ServicesAdvertising

（¥ million）

　

y/y Causes

PremiumServices +29.8％ Stable growth of

paid members

Advertising +22.8％ Growth of Banner sales

4

2,790

3,544

※From FY2012, Advertising (new segment) = Marketing Support + Advertising (former segment)

Net Sales by Business

5

（¥ million）

0

200

400

600

800

1,000

1,200

1,400

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q３

485452

420480

390413302354414

410373

775727681638582558542497451402358

Premium ServicesAdvertising

732

865813 851 844

FY2011FY2010

972 973

1,1191,180

FY2012

■ Highest sales in the company’s history

1,103

1,259

※From FY2012, Advertising (new segment) = Marketing Support + Advertising (former segment)

0

500

1,000

1,500

2,000

FY2011 Q3 (9 months) FY2012 Q3 (9 months)

446351

79110 240161

859775

SG&A increase/decrease

6

（¥ million）

　y/y Causes

Personnel costs +10.8％

Growth in no. of employees (100 in Jan. 2012

to 117 in Jan. 2013)

Paid-charge commissions +49.2％ Increase in paid members

Cloud-service usage fees - Stable after AWS migration

in FY2011

Others +27.0％ Increase in various costs due to service expansion

1,6261,399

Personnel costsPaid-charge commissionsCloud-service usage feesOthers

※Cloud-service usage fees fall into “System related costs” until FY2011

Breakdown of SG&A for Each Quarter

7

（¥ million）

0

100

200

300

400

500

600

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

153156137133

129105116

220

937189

26252834

28503130

2727

27

87807267

57515250

444035

292281285300265259251262

203191174

Personnel costsPaid-charge commissionsCloud-service usage feesOthers

327 330370

565

451 466 482

535 522

FY2010 FY2011 FY2012

■ Increase in personnel costs & paid-charge commissions

544 559

※Cloud-service usage fees fall into “System related costs” until FY2011

8

（¥ million）

FY2010 FY2011 FY2012

0

100

200

300

400

500

600

700

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

691620

563569481491

386275

486470394

Operating Income for Each Quarter■ Highest profit from Operating Income in the company’s history

Business Details - Users

9

■ Over 20 million users on PC and mobile*

Device UUs (million)

PC 13.88

Mobile** 17.02

Unique users by device, Registered recipes (Jan, 2013)

Registered recipes 1.38 million

*Estimated number of unique users without overlap in PC and mobile. According to a survey taken in July 2012, 58.6% of PC users said they also use mobile service. **Total number of users on Smartphone browsers, Smartphone Apps, and Feature phones.

Monthly UUs (PC and Smartphone browsers)

10

■ Users from Smartphone browsers steadily increased.

0

3.0

6.0

9.0

12.0

15.0

Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan

13.8813.5913.8114.1713.9613.17

12.69

11.4811.5110.69

11.14

12.32

PC（million）

FY2011

0

2.0

4.0

6.0

8.0

10.0

Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan

8.708.07

7.356.80

6.07

5.415.314.734.674.51

3.763.50

FY2012 FY2011 FY2012

(million)

Smartphone browsers

Number one recipe site in Japan

11

■ “Which recipe site do you use most frequently?”- 80% of users answered “COOKPAD”.

COOKPAD78.4%

Kewpie1.4%

Yahoo! recipes4.9%

Ajinomoto3.3%

Rakuten recipe2.4%

kyounoryouri.jp2.4%

Kikkoman1.4%

Others6.1%

Source: Survey from Nikkei Research Institute of Industry and Regional Economy (Apr. 2012)

⇒ Taken over by COOKPAD in Sep. 2012

12

0

100

200

300

400

500

600

700

800

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

775727

681638

582558542497

451402

358

FY2011FY2010

（¥ million）

FY2009

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

900,000

1,000,000

FY2012 FY2010 FY2011 FY2012

Premium Services Business■ Sales of Premium Services Business increased 33.1% y/y in FY2012 Q3.

■ Steadily increase in paid members, already growing to over 900,000 people.

Sales for each quarter Paid members

13

■ High priority was given to increasing 30-day trial users during the Nov. ～ Dec. 2012 period■ Y/Y net increase of paid users for Jan. 2013

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

Q1 Q2 Q3 Q4 Q1 Q2 Q3

FY2011 FY2012

Focus on increase of 30-day trial users

One-time spike in new members

due to media exposure

Incremental increase in number of paid members

Number of paid members

Premium service free trial campaign

14

Over 500,000 users

signed-up for our 30-day free trial

by the end of Jan. 2013.

15

Sales for each quarter（¥ million）

0

100

200

300

400

500

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

485452

420480

390413

302354

414410373

FY2011FY2010 FY2012

0

100

200

300

400

500

Q1 Q2 Q3 Q4 Q1 Q2 Q3

121117102

126

7218

19 1451057687

88

81

61

218229242265228311

222

FY2011 FY2012

（¥ million）

Tie-upsBannersNetwork Ads

420480

390413

302

452485

Advertising

Breakdown by product

■ Sales of Advertising Business increased 24.4% y/y in FY2012 Q3.

■ Banner sales continuously increased in Q3.

User reach success stories in advertising

16

About 5 million users were reached between Oct. 22nd～Nov. 25th, 2012

■ High cost-effectiveness compared to TV commercials

■ About 40% ad awareness rate amongst Cookpad users (3rd party analysis)

■ Doubling in POS sales of “Kagome’s Tomato Nabe” compared to pre-campaign sales at some stores

＜In-store display＞

Start of Smartphone Advertising

17

■ Advertising sales to begin in April, 2013■ Ads will appear with top page content, automatically sliding off screen after a few seconds.

Strengthening special sales information

30代33.2%

Timely delivery of information

through photos

Sale items connected to corresponding recipe search 18

■ Over 600,000 stores already registered by users■ Addition of photo upload function for retailers, slated to expand to an increasing number of stores

Connect people to share great experiences around cooking.

- This document includes some forecasts, which are based on currently available information. It may contain an element of uncertainty. Actual performance data and similar information may differ due to diverse factors.

- We appreciate your understanding. When producing this document, we were careful not to include errors or omissions, but the authenticity and integrity of the information are not guaranteed.