3Q FY2015 Results

3Q  Highlights

●Operating  Results  Continued  expansion  in  Premium  Services  and  Advertising.  Consolidated  operating  income  increased  60.3%,  compared  to  the  same  period  last  year.

●Shop  Deals  Service   Solid  growth  proven  by  below  statistics  as  of  3Q  end:    -‐‑‒        5,300  store  participants  in  chargeable  service      -‐‑‒        16,000  store  registrants  in  real-‐‑‒time  deals  delivery  service

2

●New  Business  in  Japan  Minnano  Wedding  Co.,  Ltd.  joined  the  consolidated  group  in  3Q      

Consolidated  ResultsJanuary  1  -‐‑‒  September  30,  2015  

3Q  Key  Financials

*  Due  to  IFRS  adoption  in  2015,  figures  for  2014  were  recalculated  by  reflecting  material  differences  between  JGAAP  and  IFRS.

4

(in millions of JPY)

　

2014  Jan - Sept

2015  Jan - Sept

Change

Revenue 6,088 10,006 64.3%

Opearating  Income 2,623 4,204 60.3%

Pre-‐‑‒tax  Profit 2,623 4,124 57.2%

Net  Income  Attributable  to  Cookpad  

1,584 2,478 56.4%

+

+

+

+

*

0

2,000

4,000

6,000

8,000

10,000

12,000

Jan-‐‑‒Sept  2014 Jan-‐‑‒Sept  2015

8,4695,941

Revenue  Impact  of  New  Subsidiaries●New  subsidiaries  such  as  SELECTURE,  Inc.  and  Minnano  Wedding  Co.,  Ltd.  boosted            revenue.  The  growth  excluding  those  impacts  would  have  been  +42.7%.

5

＊2

*1    SELECTURE  in  consolidation  since  August  2014,  thus  Jan-‐‑‒Sept  2014  includes  its  revenue  from  August  and  September  2014.    *2    Due  to  IFRS  adoption  in  2015,  figures  for  2014  were  recalculated  by  reflecting  material  differences  between  JGAAP  and  IFRS.

Addition  by  new  subsidiaries42.７%

（in  millions  of  JPY）  

6,088

10,006+

＊1

0

2,000

4,000

6,000

8,000

10,000

12,000

Jan-‐‑‒Sept  2015

(in  millions  of  JPY)

4,723

3,100

108

952

10,006

157

905

57

Revenue  Mix

6

Others Other  than  as  described  below

EC Revenue  from  “Angers”  -‐‑‒  an  online  shop  for  home  &  kitchen  goods

IT/  Media  

Other    IT/Media Primarily  from  Minnano  Wedding

Recipe  Services  

OthersEditorial  fees  for  “Cookpad”  related  publications,  etc

Shop  Deals  Service

“Tokubai  Joho”  chargeable  service  (launched  in  March  2015)  

Advertising Ad  sales  mainly  on  "Cookpad"  sites

Premium  Service

Cookpad  Premium  Membership  sales

Major  Sources  by  Segment

*    Segmentation  is  refined  and  provided  from  3Q  2015.

FY 2011 FY 2012 FY April 2014 FY December 2014 FY 2015

Others ー ー ー ー ー ー ー ー ー ー ー ー ー ー ー ー ー 57

EC ー ー ー ー ー ー ー ー ー ー ー ー ー 270 267 288 400 263IT/  Media 844 972 973 1,119 1,103 1,180 1,259 1,437 1,539 1,533 1,620 1,879 2,052 2,344 1,765 2,594 2,891 3,510

Total 844 972 973 1,119 1,103 1,180 1,259 1,437 1,539 1,533 1,620 1,879 2,052 2,615 2,033 2,883 3,292 3,831

(in  million  of  JPY)

Segment Revenue by Quarter

7

0

1,000

2,000

3,000

4,000

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 1Q 2Q 3Q

1,8792,052

2,615

2,033

2,883

3,292

3,831JGAAP  

(Consolidated)

844972 973

1,119

1,437

1,180

1,539 1,533 1,620

1,1031,259

JGAAP  (Non-‐‑‒consolidated)

2-‐‑‒month    Quarter  *2

IFRS

*1    Segmentation  is  refined  and  provided  from  3Q  2015.  *2    In  this  8-‐‑‒month  transition  period,  this  quarter  represents  November  and  December  in  2014.

*1

Recipe Services Revenue by Quarter

8

0

1,000

2,000

3,000

4,000

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 1Q 2Q 3Q

1,8371,992

2,278

1,731

2,7412,464

2,884

JGAAP  (Consolidated)

844 972 9731,119

1,4371,180

1,539 1,533 1,587

1,1031,259

(in  million  of  JPY)JGAAP  

(Non-‐‑‒consolidated)

2-‐‑‒month    Quarter  *2

IFRS

FY 2011 FY 2012 FY April 2014 FY December 2014 FY 2015

Others ー ー ー ー ー ー ー ー 1 2 2 13 35 65 39 39 23 45

EC ー ー ー ー ー ー ー ー ー ー ー ー ー ー ー 16 68 72

Advertising 302 413 390 480 420 452 485 620 660 574 564 708 766 931 795 949 1,101 1,048

Premium  Services 542 558 582 638 681 727 775 816 877 956 1,019 1,114 1,190 1,280 896 1,459 1,547 1,717

Total 844 972 973 1,119 1,103 1,180 1,259 1,437 1,539 1,533 1,587 1,837 1,992 2,278 1,731 2,464 2,741 2,884

*1

●Revenue  breakdown  of  Recipe  Services  (IT/Media  segment)

*1    Segmentation  is  refined  and  provided  from  3Q  2015.  *2    In  this  8-‐‑‒month  transition  period,  this  quarter  represents  November  and  December  in  2014.

0

1,000

2,000

3,000

4,000

5,000

Jan-‐‑‒Sept  2015

4,862(in  million  of  JPY)

9

SG&A  Expenses

Others Other  than  as  described  below

Shipping  charges   Shipping  charges  at  an  online  shop  “Angers”

Rent Office  rent

Advertising Advertising  for  each  service

Promotion  fees To  promote  “Cookpad”  Premium  Membership

Cloud  computing  fees

To  use  cloud  computing  for  “Cookpad”  services

Sales  commissions To  collect  Premium  Membership  fees  through  settlement  platform

Personnel  expenses 487  employees  as  of  3Q  end

*1 　  “Shipping  charges”  and  “Rent”  are  separated  from  1Q  2015  *2 　  “Advertising”  is  separated  from  3Q  2014

*1

2,318

611

147228

1,023

144149

*2

237

Major  Sources

*1

0

500

1,000

1,500

2,000

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 1Q 2Q 3Q

FY 2011 FY 2012 FY April 2014 FY December 2014 FY 2015

Others 116 105 129 133 135 138 132 150 169 182 196 222 284 398 297 303 314 405

Shipping  charges   ー ー ー ー ー ー ー ー ー ー ー ー ー ー ー 53 48 42

Rent ー ー ー ー ー ー ー ー ー ー ー ー ー ー ー 62 63 103Goodwill  amortization ー ー ー ー ー ー ー ー ー ー 49 95 109 118 81 ー ー ー

Advertising ー ー ー ー ー ー ー ー ー ー ー ー ー ー ー 32 51 65

Promotion  fees ー ー ー ー 2 17 20 13 26 46 70 65 121 92 53 69 46 31

Cloud  computing  fees 31 50 28 34 28 25 26 31 32 36 38 47 51 52 42 74 81 81

Sales  commissions 52 51 57 67 72 80 87 95 103 107 112 129 138 163 126 189 213 208

Personnel  expenses 251 259 265 300 285 281 292 365 341 359 418 493 497 545 437 652 727 939Total   451 466 482 535 522 544 559 656 673 733 886 1,053 1,203 1,370 1,039 1,437 1,546 1,878

SG&A  by  Quarter

10

1,878

656451 466 482 535 522 544 559

673 733

1,3701,203

1,053886

1,4371,546

1,039

＊2

＊2

＊3

*1      In  this  8-‐‑‒month  transition  period,  this  quarter  represents  November  and  December  in  2014.  *2 　”Shipping  charges”  and  “Rent”  are  separated  from  1Q  2015  *3 　“Advertising”  is  separated  from  3Q  2014

(in  million  of  JPY) JGAAP  (Consolidated)

JGAAP  (Non-‐‑‒consolidated)

2-‐‑‒month    Quarter  *2

IFRS

Operating  Income  by  Quarter

*    In  this  8-‐‑‒month  transition  period,  this  quarter  represents  November  and  December  in  2014. 11

0

500

1,000

1,500

2,000

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 1Q 2Q 3Q

FY  2011

1,585

386491 481

569 563

769691

620

843787

710811791

1,043

824

1,195

1,423

(in  million  of  JPY)JGAAP  

(Consolidated)JGAAP  

(Non-‐‑‒consolidated)

2-‐‑‒month    Quarter  *

IFRS

FY  2012 FY  April  2014 FY  Dec  2014 FY  2015

Recipe  Services  DetailJanuary  1  -‐‑‒  September  30,  2015

0

10

20

30

40

50

60

July Oct Jan Apr July Oct Jan Apr July Oct Dec Mar June Sept

0.60.7

0.70.80.8

0.91.01.1

1.4

1.42.1

2.53.4

4.2

9.29.1

9.38.68.4

7.99.4

8.57.9

6.96.6

5.74.9

3.8

30.230.327.425.523.7

19.817.716.514.211.09.88.76.8

5.3

15.616.215.015.417.216.115.715.015.914.814.013.814.112.6

PCSmartphone  BrowsersAppsFeature  Phones

29.4 30.932.7

34.2

39.541.3

50.4

26.1

44.0 44.9

50.3

55.7M

Domestic  “Cookpad”  User  Trend

*1    Counts  every  access  from  one  of  the  devices  or  browsers  above.  *2    Categorization  has  changed  in  July  2014.

*2

FY  Apr  2014 FY  2015  FY  Dec  2014FY  2012

（in  millions）

13

*1

52.5

Monthly  Users56.4

Halloween  Event  in  October

14

●  Seasonal  events  lined  up  to  create  more  opportunities  for  people  to            enjoy  seasonal  cooking!

Monthly Users in October reached 58.8M

   1Q   　 　        2Q   　 　        3Q   　 　        4Q   　 　        1Q 　 　        2Q   　 　        3Q   　 　        4Q 　 　        1Q 　 　        2Q   　 　3Q   　          1Q   　 　 　2Q   　 　 　3Q     　  

●  Daily  users*  keep  increasing  as  our  service  expand  into  more  aspects  of  daily  life

Daily  User  Trend

(in actual）

15FY  Apr  2014 FY  2015FY  Dec  2014FY  2012

0

2,000,000

4,000,000

6,000,000

8,000,000

*  Based  on  domestic  “Cookpad”  sites

1.0

1.5

2.0

2.5

July Oct Jan Apr July Oct Jan Apr July Oct Jan Apr July Oct Dec Mar Jun Sept

1.031.081.11

1.21.27

1.331.38

1.451.51

1.571.63

1.711.78

1.861.92

2.012.1

2.19

FY  2012 FY Apr 2014 FY Dec 2014 FY 2015

16

Increasing  Cooking  Recipes

（in millions）

*  Based  on  the  domestic  “Cookpad”  sites

FY  2011

“User  First”  Drives  Our  Services      

17Source:  JSCIʼ’s  third  survey  in  2015  (Japanese  Customer  Satisfaction  Index)    

●  No.1  customer  satisfaction  in  Internet  Service  industry  for  3  years  running  

0.0

5.0

10.0

15.0

20.0

Jan Apr July Oct Dec Mar Jun Sept

4.29

6.56

3.45 4.09

2.55

1.55

1.20

0.770.810.53

7.70

2.18

5.787.61

4.294.664.796.00

0.730.620.911.020.990.870.670.83

EnglishSpanishBahasa  IndonesianArabic

*  Measured  by  Google  Analytics

（in  millions）

18

FY  Apr  2014 FY  2015FY  Dec  2014

*

Recipe  Services  Going  Global

Monthly Users by Language

16.82

6.836.06

11.93

6.35

11.70

9.83

6.01

0

500

1,000

1,500

2,000

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 1Q 2Q 3Q

19

1Q 　2Q 　3Q 　4Q 　1Q 　2Q 　3Q 　4Q 　1Q 　2Q 　3Q 　4Q 　1Q 　2Q 　3Q 　1Q      2Q      3Q

1,717

542 558582

638681

727775

816877

9561,019

1,1141,190

1,280

896

1,459

1,547

Quarterly  Sales Premium  Members (paying  subscribers)  （in  millions  of  JPY） （in  millions）

*    In  this  8-‐‑‒month  transition  period,  this  quarter  represents  Nov.  and  Dec.  in  2014.  

JGAAP  (Non-‐‑‒consolidated)

JGAAP  (Consolidated)

IFRS

FY  2011 FY  Apr  2014FY  2012 FY  Dec  2014 FY  2015

!2-‐‑‒month  Quarter  *                

Premium  Services 　

0.5

1.0

1.5

2.0

FY  2011 FY  Apr  2014FY  2012 FY  Dec  2014 FY  2015

20

Premium  Members  -‐‑‒  Net  Increase  per  Quarter

*    In  this  8-‐‑‒month  transition  period,  this  quarter  represents  November  and  December  in  2014.

0

20,000

40,000

60,000

80,000

100,000

120,000

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 1Q 2Q 3Q

Free-‐‑‒trial  ended  （Upgraded to Premium Members）

Free-trial started

Temporary  plunge  due  to   switching to smartphones

Holding  down  real  affiliates  

2-‐‑‒month            Quarter  *                

Real affiliates decreased & the app sales price hiked

Partially  due  to  a    change  in  the    measurement  

(in actual）

FY  2012 FY  2012 FY  Apr  2014 FY  Dec  2014 FY  2015

21

0

500

1,000

1,500

2,000

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 1Q 2Q 3Q

490 507 524571 607

708668628

802 838922 931

1,226

737747

1,041

1,321

Premium  Services  Profit    -‐‑‒  Trend  by  Quarter

*1      Premium  Services  Profit  =  Premium  Services  sales  -‐‑‒  (sales  commissions  +  promotion  expenses)  *2 　In  8-‐‑‒month  transition  period,  this  quarter  represents  November  and  December  2014.  

FY  2011 FY  April  2014FY  2012 FY  Dec  2014 FY  2015

*1

1,508

●  Service  offering  through  “d  gourmet”  by  NTT  DOCOMO,  Inc.  started  in  May  2015              resulted  in  more  revenue  streams  being  gained  from  carriers  and  revenue  sharing.  

(in  million  of  JPY)

2-‐‑‒month            Quarter  *                

0

200

400

600

800

1,000

1,200

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 1Q 2Q 3Q

2230

13

3

4

2355385

429238

302

264184

143131

109152

121117102

12672

18

19

323318

264256

312

266270192

163

209181

145105768788

81

61347366

243297312233251228279341286

218229242265228311

222

TIe-‐‑‒up  adsDisplay  adsNetwork  adsOthers

Advertising

(in  million  of  JPY)

22*  In  8-‐‑‒month  transition  period,  this  quarter  represents  November  and  December  2014

574 564

660620

485420

452

705

767

932

796

302

413390

480

950

1,1001,048

Sales  by  Ad-‐‑‒ProductJGAAP  

(Non-‐‑‒consolidated）JGAAP

(Consolidated)IFRS

FY  Apr  2014 FY  2015FY  2011 FY  2012 FY  Dec  2014

Ads  for  the  domestic   “Cookpad”  sites

2-‐‑‒month*  Qtr

0

200

400

600

1Q 2Q 3Q 4Q 1Q 2Q 3Q   1Q 2Q 3Q

64

174

303

363317

23

509

Smartphone  Ads  Sales  *1

FY  Apr  2014 FY  Dec  2014 FY  2015

（in  millions  of  JPY）

*1 　Refers  to  total  of  Network  and  Display  ads  sales,  excluding  Tie-‐‑‒ups  ads  *2 　In  8-‐‑‒month  transition  period,  this  quarter  represents  November  and  December  2014

2-‐‑‒month*2  Qtr

526481

Shop  Deals  Service

Registered  Users

2.5

5.0

exceeded  4.7M in Sept 2015（in millions）

10,000

20,000(in actual）

!  exceeded  16K in Sept 2015

Registered  Stores  in  Real-‐‑‒Time  Delivery  Service

24

●New  service  line  charging  monthly  5,000  yen  per  store  as  the  main  product            has  won  5,300  retailers  as  of  3Q  end,  since  its  launch  in  March  2015  ●Including  above,  steady  growth  demonstrated  by  the  number  of  participants

FY  Aprʼ’14 FY  Decʼ’14 FY  20151Q          2Q          3Q          4Q          1Q          2Q          3Q          1Q          2Q          3Q

FY  Decʼ’14 FY  20151Q          2Q          3Q          4Q          1Q          2Q          3Q          1Q          2Q          3Q

FY  Aprʼ’14

Topics

“Minnano  Wedding”  into  Consolidation  Group

31

●Minnano  Wedding  Co.,  Ltd.  that  operates  a  wedding  venue  reviews  website  of              “Minnano  Wedding”  joined  the  group  as  of  3Q  2015.  ●Strong  synergies  expected  with  “Cookpad”  offering  user-‐‑‒generated  contents  in          common,  to  bring  more  growth  opportunities  for  its  service,  technology,  and            further  expansion.

Make  Everyday  Cooking  Fun

!!

Cookpad  Inc.  !

Investor  Relations  Email  ：  ir@cookpad.com

This presentation contains certain comments that may be characterized as forward-looking statements. These statements are based on information currently available to management and its beliefs and assumptions regarding future business and financial performance. A number of factors such as changes in business environment may cause actual results to differ materially from any future results or performance expressed or implied by this presentation.