Security Code: 4689

Z Holdings Corporation Business Results

FY2022 Full Year & Q4 Appendix

April 28, 2023

FY2022 Q4 Consolidated Business Results

FY2022 Q4 Factors of Change in Operating Income

Whole Group

(JPY B)

FY2022 Q4

YoY Difference

YoY

Major Factors of Change1 (JPY B)

PayPay (Consolidated)²

eBOOK Initiative Japan -7.9

Revenue

433.7

+26.4

+6.5 %

+30.0

LINE +6.8

Cost of sales

133.0

+2.4

+1.9 %

LINE +3.5

eBOOK Initiative Japan -4.6

ASKUL Group +3.2

PayPay (Consolidated)²

Yahoo Japan -32.4

SG&A

276.4

+6.1

+2.3 %

+45.8

LINE -3.2

ZOZO +2.9

(Major items)

Personnel expense

73.9

+1.8

+2.6 %

Yahoo Japan -3.8

LINE -3.2

Depreciation and

40.0

+6.0

+17.7 %

Yahoo Japan +2.8

amortization

Business commissions

35.5

+4.3

+14.1 %

Sales promotion cost

28.1

-23.7

-45.7 %

Yahoo Japan -28.9

Other income & expenses

-

-6.6

N/A

Operating income

24.2

+11.2

+86.9 %

  1. Figures in "Major Factors of Change" are figures after consolidation adjustments.
  2. Compared PayPay Card's non-consolidated figure for FY2021 Q4 with PayPay (Consolidated) figure for FY2022 Q4 which includes PayPay Corporation and PayPay Card Corporation after eliminating

the internal transactions between the two companies.

2

FY2022 Q4 Factors of Change in Net Income Attributable to Owners of the Parent

Whole Group

(JPY B)

FY2022 Q4

YoY Difference

YoY

Major Factors of Change (JPY B)

Operating income

24.2

+11.2

+86.9 %

Other non-operating income

7.4

-18.6

-71.6 %

• Absence of impact of sales of SRE Holdings

shares -5.4

Other non-operating expenses

13.5

+11.0

+436.9 %

PayPay +3.5

Impairment loss on investments in

-12.2

+2.0

-14.3 %

LINE Consolidated +1.3 (LINE Bank Preparatory

associates and joint ventures

Company-7.1, LINE MAN +1.5, Demae-can

+3.9

Profit before tax

5.9

-16.4

-73.4 %

Income tax expense

8.9

-1.9

-18.0 %

Profit for the period

-3.0

-14.4

-127.0 %

Non-controlling interests

-1.7

-2.6

-304.0 %

Impact of PayPay Consolidation

Net income attributable to owners of the parent

-1.2

-11.7

-112.2 %

3

FY2022 Q4 Equity in Losses of Associates and Joint Ventures

Major Equity-

Based in

Equity

Business

Method Affiliates

Ratio1

Content

WEBTOON

U.S.

32.3%

Operation of e-manga

Entertainment

services

Commerce

Demae-can

Japan

38.4%

Operation of website

specializing in home delivery

Provision of home

LINE MAN

Thailand

43.3%

delivery/mail/taxi dispatch

services, etc.

Payment/Finance

Kashikorn

Thailand

49.9%

Pure Internet bank

LINE Company

LINE Bank

Taiwan

49.9%

Pure Internet bank

Taiwan

PT. Bank KEB

Indonesia

20.0%

Pure Internet bank

Hana Indonesia

Whole Group

Equity in Losses of Associates and Joint Ventures

(JPY B)

Q4'21

Q1'22

Q2'22

Q3'22

Q4'22 LINE MAN

-1.5

-1.4

-1.9

-1.4

-3.5

-2.0

-0.6

-2.4

-1.6

-0.5

-0.9

-1.2

-0.5

-5.4

-1.9

-3.5

-2.1

-7.8

-0.6

-0.8

-7.0

-1.0

-0.6

-8.6

-2.4

-1.4

-0.6

-10.7

-2.4

-2.6

-12.2

-14.2

1

Other

LINE Bank Preparatory Company

LINE MAN

WEBTOON Entertainment

Demae-can

1. As of March 31, 2023

4

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Disclaimer

Z Holdings Corporation published this content on 28 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2023 06:36:10 UTC.