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Build Future With DeNA

September 16th, 2011

Tetsuya MoriManaging Director

DeNA Asia Pacific Holdings

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Many more women in ao dai on motorbike than today

Cows walking on a highway from Noi Bai airport to Hanoi

Sun Wah Tower was the most prestigious office building

Large scale shopping mall just emerging

Bryan Pelz still working at VinaGame

Henry Nguyen @IDG still enjoying a single life

First Time in Viet Nam, 3 Years Ago I saw

Lots of changes since then…..

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Substantial headroom for economic growth

‘Tomorrow is better than today’

Great Vietnamese food

So Vo Women rule

VN Index around 400-500

Great entrepreneur spirit

3 Years Later, Still Don’t Change

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Vietnam Hidden Gem

The most developed Internet ecosystem in South East Asia - The largest Internet company in SEA - VNG - The largest E-commerce company in SEA - Vatgia.com - Several 1000+ employee companies supporting ecosystem

One of the best mobile infrastructure in Asia - Ubiquitous mobile broadband 3G+Wifi

Substantially large pool of young and hungry engineers

Silicon Valley like startup mentality

Internet savvy consumers

DeNA strongly believes the future prospect of Viet Nam

We wants to assist Viet Nam gaming ecosystem to grow

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DeNA – About us

World’s largest mobile game publisher from JapanFounded 1999 by female founder Tomoko NambaListed TSE 2005 (stock ticker 2432)Known as ‘Mobage’ gaming brand

– Publish in-house developed games and 3rd party games

– Publish and distribute games through mobile handsets

– Publish primarily inside Japan

2010 Revenue $1.4B, Ops margin 50%– Almost all revenue from Japan in the past

User reach – 30 million or 25% of Japanese population 20% of Japan’s Internet Traffic Market Cap $5.3B

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DeNA – Growing Fast

Net Revenues Ordinary Income(Profit before tax)

*Blue means actual data, Light blue means estimated data as of the end of July, 2011. Currency converted with the exchange rate 1USD = 80JPY.

(Million USD) (Million USD)

80

170

371

470

600

2357

159201

269

1409 703

887*

(6 months)

406*

(6 months)

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① Social Game ■Japanese social gaming market( Forecast)

（ 100M ）

※Source: Seed Planning , Inc. report

■Estimated Japanese social gaming market (fiscal year)

　　 2009 ： 30 billion Yen 　　 2010 ： 150 billion Yen　 2014 ： 251 billion Yen

　　

② Mobage openplatform

- 2009 3Q 　 Start social gaming business

- Jan. 2010 Open platform for 3rd developers

- As of the end of Mar. 2011

　　　 Social gaming network ： 317 developers

　　　 　： 869 games

- Game-related revenue 1Q of 2011: 24 billion Yen

■Mobage game-related revenueMobage started Social Games just 1 ½ years ago!

The social gaming market emerged in just two years.3rd developers who joined us at an early stage have proven to be todays top earners.The market has recently gotten a lot more competitive because of the entrance of console game giants.

In 2010 DeNA had a 60% of the Market Share

Social Game Market grew exponentially in the last 2 years

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ARPU Comparison

* Sum of the sales during July 2010 & June 2011 ** Sales figures of facebook are from the web search as of 2010. *** Source : SEC S-1 Filling Zynga’s ARPU is the average during Jan-March 2011. DeNA’s ARPU is as of June 2011.

Even higher ARPU recorded by Active User basis

DeNA

Business domain

Social graph

Devices

Virtual

Real

—

Predomi-nately mobile

Predomi-nately PCs

SNSgames

SNS

Games

No strong virtual communities overseas to serve as game platforms

Chaotic competition for smart phones

Sales ARPU

$1.5 billion

$1–2 billion**

$0.6 billion***

x 30**

x 18***

$1.4 billion*

DeNA has already achieved world top-class status in sales, and ARPU is absolutely No.1

Predomi-nately PCs

Of which, SNS/game-related:

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Smartphone penetration （ o,ooo shipments ） （ Ratio ）

※Source: MM Research Institute , Ltd. report

■Estimated Smartphone shipments in Japan

　 2011: 21.85 M （ Penetration rate: 19.9% ）　 2015: 60.35 M （ Penetration rate: 51.0% ）

■ Android

Sold by 3 big carriers.

Getting popular by supporting traditional feature phone features such as mobile wallet (NFC), infrared, One Seg.

*Example image is ” GALAXY S ”Ⅱ

■ iPhone

Sold by SoftBank only.

Smash hit due to excellent UI and ample content-rich applications.

*Example image is ”iPhone White”.

In April 2011, Smartphone shipments already reached 46.2% of all mobile shipments

(Source: BCN ranking)

Smarthphone penerates Japan much faster than any prediction

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DeNA + ngmoco Global Strategy

Smartphones SNS Social games× ×

(iPhone, Android)

By combining SNS and Social games, DeNA aims to position itself as the No. 1 platform in the rapidly growing global Smartphones market

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X-device & X-border game development through ngCore

Mobage Japan Mobage GlobalMobage China

ngCore

Game

Game development engine

Game developers

SNS

ngCore

X-border release

X-device release

iOS Applications Android Applications Other OShtml5・・・

Other engines

DeNA

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Commitment to South East Asia and Vietnam

Opening of DeNA Asia Pacific Holdings - Asia HQ in Singapore - Support local developers’ migration to mobile social games - Drive Mobage game distribution to SEA

Vietnam - We see great potential in game development - We wants to contribute local developer community - ngCore SDK - Knowledge transfer - Investment - Gateway to global distribution - Case in point : Punch Entertainment Vietnam acquisition

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DeNA Support to Selected Developing PartnersDeNA Support to Selected Developing Partners

PlanningPlanning α versionα version β versionβ version Final versionFinal version

PromotionPromotion

Pre-releasePre-release

Post-releasePost-release

Game　design

Game　cycle

UI UI UI

We　can　push　users　to　your　game　using　Mobage　promotions

Social　features Game　quality

Fine　tuning

QA　check

Social　features

In-app　purchase

All Partners are presented with support and know-how at each of the following stepsAll Partners are presented with support and know-how at each of the following steps

Social　features

In-app　purchase

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Build your future with DeNA

mori.tetsuya@dena.jp