Micware Co., Ltd. · NASDAQ:MWC
Micware — Investor Presentation (August 2026)
26 slides from Micware's investor presentation, Aug 5, 2026
Slide 1: Investor Presentation August 2026
Nasdaq Ticker: MWC Investor Presentation August 2026 Micwar e Co. , Ltd.AI1AI2
Slide 2: Forward-looking statements
2 This presentation contains forward - looking statements that reflect our current expectations and views of future events, all of which are subject to risks and uncertainties . You can identify these statements by the fact that they do not relate strictly to historical or current facts . You can fi
Slide 3: Why Invest in Micware? Investment Highlights
3 01 Trusted Partner to Toyota & Honda 02 Leading Japanese automotive software company 03 Positioned for Software Defined Vehicles (“SDV”) growth 04 AI - powered DynaPlanet platform 05 Strong profitability and cash generation Dual relationship: Toyota Motor Corporation (“Toyota”) & Honda Motor Co.,
Slide 4: Company overview and key customers
4 of experience in software development in the automotive industry* Our Key Customers 20+ years Our Products and Services • In - vehicle platform s oftware • Navigation software • Other mobility s oftware • B2C services p atents in total* 300+ 6 00+ n umber of employees** Our Global Operations 6 ope
Slide 5: Business Segment
5 Location - Based Services Software Defined Vehicles Development and sale of software systems designed for SDV , including IVI system software and other mobility - enhancing software products Other Development and licensing of in - vehicle navigation software systems , and other geographic data - b
Slide 6: Revenue Model
6 3. Other Software - related Services 2. Licensing 1. Software Development Services Design and delivery of custom automotive software based on our proprietary IVI platform, which supports functions like navigation, multimedia, and connectivity After - sales maintenance and support services, as well
Slide 7: Financial Highlights: Revenue and Breakdown
7 81.4% 15.0% 3.6% 76.7% 19.2% 4.1% Software Development Services Licensing FY2024 Audited FY2025 Audited Software - related Services Revenue US$ Million Revenue Breakdown Note: FY2024 refers to the fiscal year ended February 29, 2024; FY2025 refers to the fiscal year ended February 28, 2025; FY2 02
Slide 8: Financial Highlights: Margins and Profit
8 9.1 8.8 10.3 FY2024 Audited FY2025 Audited FY2026 Audited 13.5 15.3 15.6 FY2024 Audited FY2025 Audited FY2026 Audited 35.5 49.1 51.6 FY2024 Audited FY2025 Audited FY2026 Audited US$ Million US$ Million 30.4% 35.0% 36.8% Gross Margin % US$ Million Adjusted Operating Profit Margin (%) Net Income Mar
Slide 9: Financial Highlights: Cash and Indebtedness
9 Note: *Total indebtedness includes short term borrowings, current portion of long - term borrowings, and long - term borrowings. Al l USD equivalents are based on the exchange rates as of the respective balance sheet dates, or if not available, the most rec ent available rate prior to such dates,
Slide 10: Key FY2026 Financial Takeaways
10 Key FY2026 Financial Takeaways Our g ross margin improvement of + 1 . 8 % pts YoY to 36 . 8 % , resulting in record - high margins and sustainable profitability rather than one - off gains . Even with a significant + 4 0 . 0 % YoY increase in R&D expenses , both operating profit and adjusted oper
Slide 11: Strategic Direction
11 Strategic Direction Driving Long - Term Value Through Technology and Execution Supplier Platform Provider Founded in Kobe, Japan as a small team focused on developing car audio and navigation system s Recognized as one of the leading Japan - based IVI Tier 1 software suppliers Scaled into a globa
Slide 12: The Two Growth Pillars of Our AI-centric Platform Strategy
12 The Two Growth Pillars of Our AI - centric Platform Strategy micAuto - PF MISSION DynaPlanet - PF MISSION 01 Maintain IVI domain 02 Expand ADAS * domain 03 Expand market via Connected ** 04 Expand quality & assurance 01 Collect dynamic data*** 02 Build dynamic spaces*** 03 04 Preserve spatial dat
Slide 13: Future Growth Investment Priorities: Allocation of IPO Proceeds
13 Future Growth Investment Priorities Allocation of IPO Proceeds • Approximately 44% for our DynaPlanet project and the expansion of micAuto - PF, including the commercialization and scaling of DynaPlanet and micAuto - PF, strategic investments to strengthen technologies, service offerings, and mar
Slide 14: micAuto-PF, Our Proprietary IVI Software Platform
14 Utilization of Google Automotive Service for efficient Android app lifecycle managements Modular design enables reuse of software components across projects Strong cross - platform compatibility across OS, I/O devices, and cloud features Continuously improved through close OEM collaboration Found
Slide 15: DynaPlanet, an Intelligent 3D Platform
15 DynaPlanet , an Intelligent 3D Platform Dynamic Street Map and Market Place (DSMM) has been renamed DynaPlanet as part of our ongoing strategic evolutio n*. DynaPlanet is an intelligent 3D platform designed for the AI era. Location - based multimedia content (text, images, audio, 3D) is unified b
Slide 16: Growth Strategies
16 Growth Strategies Growth Strategies 1. Evolve from IVI Tier 1 to SDV Tier 1 Software Supplier • Deepen long - term partnerships with OEMs and Tier 1 suppliers; pursue new OEM engagements in Japan and potentially overseas • Accelerate talent acquisition across key Japanese cities and adjacent indu
Slide 17: Near-Term Catalysts: Why Invest Now?
17 01 First year as a Nasdaq - listed company 02 DynaPlanet commercialization 03 SDV market expansion 04 Strong financial performance while funding future innovation 05 Clear growth roadmap Growing capital markets visibility Transitioning from development to revenue generation Increasing software co
Slide 18: Contact
18 Contact Micware Co., Ltd. Phone: +81 - 3 - 6699 - 9899 Email: [email protected] Address: 25 th Floor Kobe Asahi Building, 59 Naniwa - machi, Chuo - ku Kobe, Hyogo, Japan 650 - 0035 Website : www.ir - micware.com
Slide 19: Appendix: Supporting Materials
Supporting Materials Appendix
Slide 20: Non-GAAP Reconciliation: Adjusted Operating Profit
20 Non - GAAP Reconciliation: Adjusted Operating Profit For the Fiscal Years Ended February 28, 2026 US$ February 28, 2026 JPY February 28, 2025 JPY February 29, 2024 JPY In thousands 15,149 2,364,008 2,160,301 1,892,397 Operating Profit 403 62,934 149,685 126,165 Plus: Listing - related and Transfo
Slide 21: Industry Overview: Global IVI Market Size
21 4.9 5.4 6.5 7.5 8.6 9.8 11.2 12.6 14.0 15.5 12.0 12.5 13.0 13.5 14.0 14.5 15.0 15.5 16.1 16.7 0 5 10 15 20 25 30 35 2020 2021 2022 2023 2024 2025E 2026E 2027E 2028E 2029E 16.9 17.9 19.5 21.0 22.6 24.3 26.2 28.1 30.1 32.2 Global Market Size of the IVI Market, 2020 - 2029E Billion US$ 2025E - 2029E
Slide 22: Industry Overview: Navigation and Digital Mapping Markets
22 Source: The Frost & Sullivan Report Global Market Size of the Automotive Navigation System Market, 2020 - 2029E Million US$ 2025E - 2029E 2020 - 2024 7.3% 7.5% CAGR 6,069.0 6,524.1 7,000.4 7,532.4 8,105.0 8,688.5 9,340.2 10,031.3 10,743.6 11,527.8 0 5,000 10,000 15,000 2020 2021 2022 2023 2024 20
Slide 23: Management Team
23 Management Team Kenji Narushima • Mr . Narushima founded Micware in March 2003 . • Mr . Narushima served as an independent outside director of O - Well from June 2023 to May 2024 . • Mr . Narushima was a representative director of Narushima Hompo Co . , Ltd . from November 2017 to October 2018 .
Slide 24: Board of Directors
24 Board of Directors Kenji Narushima • Mr . Narushima founded Micware in March 2003 . • Mr . Narushima served as an independent outside director of O - Well from June 2023 to May 2024 . • Mr . Narushima was a representative director of Narushima Hompo Co . , Ltd . from November 2017 to October 2018
Slide 25: Board of Directors
25 Board of Directors Asami Sadoi • Ms . Sadoi has been our independent director since June 2023 . • Ms . Sadoi has served as a president of Office muMore , where she provides consulting services regarding woman employees’ career development since April 2021 . • Ms. Sadoi served as a representative
Slide 26: Our Principal Shareholders
26 Our Principal Shareholders Ordinary Shares Beneficially Owned Percent Directors, Corporate Auditors, and Executive Officers (1) : 12.2% Kenji Narushima (2) 9.1% Masahide Shigeno (3) 7.1% Takuma Segawa (4) – Kazuyuki Kawabata – Asami Sadoi – Yuko Osumi – Rieko Okada – Jerzy Marek Rudzinski – Kazun