Lifull Co.ltd. · TSE:2120
Lifull Co.ltd — FY2025 Earnings Presentation
66 slides from Lifull Co.ltd's earnings presentation, Nov 13, 2025
Slide 1: Full-Year Results FY 2025/9 Q4
LIFULL Co., Ltd. Full-Year Results FY 2025/9 Q4 (October 2024 – September 2025) Mid-Term Management Plan (FY 2026/9 – FY 2028/9) Disclaimer The opinions and projections, etc. contained herein represent the judgment of LIFULL Co., Ltd. at the time this document was prepared. However, we provide no gu
Slide 2: Index
Index 1. Main Points 2 2. FY 2025/9 Consolidated Earnings Digest 3 3. FY 2025/9 Full-Year Financial Results 7 4. Segment Overview (HOME'S Services) 12 5. Shareholder Returns 24 6. Mid-Term Management Plan 26 7. FY 2026/9 Full-Year Earnings Forecast 44 8. Appendices 50 9. IR Contact 65 1
Slide 3: Main Points
Main Points 1. FY 2025/9: Record-high net profit - Record-high operating profit for non-consolidated LIFULL Co., Ltd. - Completed transformation of Overseas businesses; focusing on domestic growth in Japan 2. Full-year growth in HOME'S Services with record-high segment profit - Sustained expansion o
Slide 4: FY 2025/9 Consolidated Earnings Digest
FY 2025/9 Consolidated Earnings Digest 3
Slide 5: Consolidated Summary of FY 2025/9 Revenue
Consolidated Summary of FY 2025/9 Revenue YoY 6.9% revenue growth due to increases in clients, listings and inquiries from continued site development and sales initiatives for LIFULL HOME'S (See page 13 onward for more details) （JPY Bil.) +6.9% Consolidated Revenue 28.12 (Full Year) Results YoY 26.3
Slide 6: Consolidated Summary of FY 2025/9 Operating Profit
Consolidated Summary of FY 2025/9 Operating Profit Profit increased 1.8x due to contributions from positive progress of HOME'S Services (After removing one-off gains in the previous FY) (Unit: JPY Bil.) Approx. Consolidated Operating Profit 1.8x (Full-Year) Sale of LIFULL SPACE Results YoY (0.91) 3.
Slide 7: Components of Operating Profit
Consolidated Summary of FY 2025/9 Components of Operating Profit Considerable increase primarily from revenue gains in HOME'S Services (JPY Bil.) 0.7 -0.7 0.1 -0.2 1.7 3.8 2.1 連結増収 人件費の増加 一時費用（減損損失） FY 2024/9 Increased Optimization of Increase in Decrease in One-Off FY 2025/9 2024年営業利益 Operating Pro
Slide 8: FY 2025/9 Full-Year Financial Results
FY 2025/9 Full-Year Financial Results 7
Slide 9: Condensed Statements of Income and Loss IFRS
Condensed Statements of Income and Loss IFRS Continued positive performance of HOME'S Services has contributed to 6.9% growth in revenue and OP increased 1.8x after excluding one-off gains in the previous FY. Exit from Overseas businesses resulted in record-high net profit. Continuing Operations Con
Slide 10: Revenue / Income and Loss by Segment IFRS
Revenue / Income and Loss by Segment IFRS Growth initiatives in HOME'S Services driving increases in revenue (+6.3% YoY) and profit (+61.7%) (See pages 13 onward for more details) Decreased losses in Other Businesses; Overseas reclassified to discontinued operations FY2024/9 FY2025/9 Change Change M
Slide 11: Condensed Statement of Financial Position IFRS
Condensed Statement of Financial Position IFRS Accounting treatment for the strategic transformation of the Overseas segment applied in Q2 has significantly reduced the risk of goodwill impairment and long-term financial liabilities (future cash outflows)1 As of As of Change Change % Main Items Unit
Slide 12: Condensed Statement of Cash Flow IFRS
Condensed Statement of Cash Flow IFRS Significant increase in operating cash flow due to improved profitability of the Group Refer to the FY 2025/9 Q2 Earnings Presentation for more details on accounting treatment applied for the strategic transformation of the Overseas segment on investing and fina
Slide 13: Segment Overview
rq LJ eIFULL Segment Overview 12
Slide 14: HOME'S Services Segment Overview
FY 2025/9 HOME'S Services Segment Overview POINT 1. Record-High Segment Profit 2. 8 Consecutive Quarters of Solid Revenue Growth 3. Results of AI Integration & Advancement 13
Slide 15: Results Trends in HOME'S Services
Results Trends in HOME'S Services Strategic initiatives, including site enhancement and sales optimization, accelerated revenue growth, resulting in record-high segment profit. Segment Revenue (JPY Bil.) Segment Profit Record Profit Profit Margin achieved through continued site enhancements 16.9% 12
Slide 16: Significant Improvement in Segment Profit Margin
Significant Improvement in Segment Profit Margin Profitability significantly improved, primarily through enhanced advertising efficiency. Improved Profit Rapid Execution: Streamlining Margin 5.8pp YoY Initiatives through Agile PDCA • Optimization of branding & marketing 11.1% 16.9% • Optimization of
Slide 17: Segment Revenue (Quarterly)
Segment Revenue (Quarterly) Achieved eight consecutive quarters of steady revenue expansion since the First Quarter of FY 2024/9. FY 2023/9 FY 2024/9 Continued Growth FY 2025/9 7,079 (JPY Mil.) 6,145 6,349 5,952 +7.7% +4.8% +4.8% +7.6% +6.3% +5.4% +1.8% +0.5% Q1 Q2 Q3 Q4 16
Slide 18: HOME'S Services KPIs: Client Network and ARPA
HOME'S Services Key Performance Indicators Client Network and ARPA ARPA: Average Revenue Per Agent Continued growth in the client network due to sales initiatives Calculation: HOME'S Services Revenue / Client Network ARPA increased due to continued growth in for-sale property markets. 12-Month Avera
Slide 19: Key Drivers for Revenue Growth
Key Drivers for Revenue Growth Strong combination of site development combined with enhanced sales efforts have improved site metrics. Sample Efforts Site Improvement and Development • Enhanced UI & UX • Launch of new services More Power Marketing • Driving traffic growth on our website and apps • O
Slide 20: Investment Real Estate Growth in Kenbiya
Investment Real Estate Growth in Kenbiya Growth driven by synergy effects: Database integration with LIFULL HOME'S and greater sales reach Total Listings on Kenbiya Revenue Trend 80k+ Acq. Jul. 2020 YoY Investment Real Estate Platform Doubled +16.6% Listings Kenbiya Since Acquisition Apr. 2023 Drivi
Slide 21: AI/Gen AI: Revolutionizing the Property Search Experience
AI/Gen AI: Revolutionizing the Property Search Experience We are continuing to develop and offer innovative features that guide users toward the best possible property match for each person's lifestyle. For Consumers Streamlining the Try it here! Home Search Journey 3D Floor Plans (in Japanese) Chat
Slide 22: Driving Client Efficiency with AI and Generative AI
Driving Client Efficiency with AI and Generative AI Driving higher conversion rates and operational efficiency for our business partners through extensive AI/Generative AI functionalities for their businesses. Driving For Real Estate Professionals Operational Efficiency DX Partnerships through Real
Slide 23: Enhancing Productivity through Internal AI Integration
Enhancing Productivity through Internal AI Integration 90%+ employee AI tool adoption drives significant efficiency gains. Examples 90% of employees 31,600 Internally-Developed AI Tool Available to All Employees utilizing AI Business Hours Saved in addition to major third-party in their work in Six
Slide 24: Recognition for LIFULL HOME'S
Recognition for LIFULL HOME'S Building lasting trust by consistently meeting users needs Top Ratings in All Core Areas: Rent, Buy, and Sell PC Overall 2 3 Users Rental Overall Appraisal 4 5 Re-Sale Rate 1 #1 Site for Fresh Listings Two Years in a Row: 2024 & 2025 (4 Years in a Row) 1. Plug Inc. [Sur
Slide 25: Shareholder Returns
rq LJ eIFULL Shareholder Returns 24
Slide 26: Shareholder Returns Dividends
Shareholder Returns Dividends We increased the dividend payout ratio by 5 pp to 30% (FY 2025/9) Record High ¥10.41 Record-high dividend per share, boosted by ¥1.00 commemorative dividend ■■ ¥10.00 Dividends per share ¥1.00 ■■ Commemorative Dividend ¥9.41 ¥8.00 FY end changed to Sep. ¥6.00 ¥6.02 ¥1.0
Slide 27: Mid-Term Management Plan (FY 2026/9 – FY 2028/9)
Mid-Term Management Plan (FY 2026/9 – FY 2028/9) Created Nov. 2025 26
Slide 28: IDEA
IDEA START 1995 Our Founding Vision Finding a solution to frustration and inefficiency in the housing sector Difficult to gather property information from various sources Hard to find a reliable real estate Our Goal: agent nearby Build a Platform to Publicize Had to make a major life decision All Re
Slide 29: SOLUTION
SOLUTION 1997 Real Estate Portal HOME'S Launched NETWORK × DATABASE MEDIA Universal Access Comprehensive, from any Location Real-Time Listings Across Japan Bridging Consumers and Businesses for Better Housing Outcomes +1 +1 28
Slide 30: Continuous Innovation for a More Convenient Home Search
Always Adding First-to-Market Solutions to Expand Our Core Services Continuous Innovation for a More Convenient Home Search Enhanced Searches Trust & Security • Map Search • #1 in Listing Freshness • Dedicated smartphone apps • Hazard Map +1 +1 +1 • Price Map 29
Slide 31: Evolving Our Services for the Generative AI Era
Our Next Challenge Providing the Best Way to Search Evolving Our for More Personalized Solutions Services for the • Intuitive Search via Text and Image Input • Expanded Information for Better Decision Making Generative AI Era +1 +1 +1 +1 +1 +1 +1 +1 30
Slide 32: HOME SEARCH × AI
Making finding your next home easier and more fun HOME SEARCH × AI +∞ 31
Slide 33: Mid-Term Management Plan (FY 2026/9 – FY 2028/9)
Mid-Term Management Plan (FY 2026/9 – FY 2028/9) 32
Slide 34: Theme of our Mid-Term Plan
Theme of our Mid-Term Plan (FY 2026/9 – FY 2028/9) Leveraging AI & Group Synergy to Become the AI Leader in the Housing Sector • Shifting Management Focus to Japan Post-Overseas Restructuring Growth in our • Continued High Growth from FY Core Business 2024/9 through FY 2025/9, Setting the Stage for
Slide 35: 1. Our Focus
Mid-Term Plan (FY 2026/9 – FY 2028/9) – 1. Our Focus - Concentrating on Housing in Japan by Utilizing Our Core Competencies Senior Living FOCUS PERSONAL HOME LIFULL senior GROW Investment Real Estate Platform Investment ＋INVESTMENT Kenbiya REAL ESTATE HOUSING Real Estate Kenbiya ＋SENIOR LIVING FACIL
Slide 36: 2. Core Business Growth
Mid-Term Plan (FY 2026/9 – FY 2028/9) – 2. Core Business Growth - Scaling Investment in High-Growth Areas to Drive Future Earnings Site Development Sales FY 2025/9 Record-High Segment Profit Promotion Boosting Sales Initiatives For Further Acceleration Accelerate 35
Slide 37: 3. Group Synergy
Mid-Term Plan (FY 2026/9 – FY 2028/9) – 3. Group Synergy - STRENGTHS Accelerating Group Growth Strong Site Foundation: by Integrating Experience • Agile Development from HOME'S and Maximizing • Leading Client Base Synergy Investment Real Estate Platform KNOW-HOW Kenbiya ・Site Development Senior Livi
Slide 38: 4. Implementing AI Technology
Mid-Term Plan (FY 2026/9 – FY 2028/9) – 4. Implementing AI Technology - Deploying Cutting-Edge AI to Enhance Experience and Efficiency for All Stakeholders AI Consumers Real Estate Professionals Internal Operational Efficiency 37
Slide 39: 5. AI for the Housing Sector
Mid-Term Plan (FY 2026/9 – FY 2028/9) – 5. AI for the Housing Sector - We became a market leader by driving the transition from paper to online media. Now, our goal is #1 Market Share in the AI Age by utilizing our housing data and group synergies. Rapidly Scaling Data Acquisition through Service Gr
Slide 40: 6. Our Goals
Mid-Term Plan (FY 2026/9 – FY 2028/9) – 6. Our Goals - Leveraging AI & Group Synergy to Become the AI Leader in the Housing Sector Previous Mid-Term Plan (FY 2021/9 - 2025/9) Current Mid-Term Plan (FY 2026/9 – 2028/9) Selective Focus Comprehensive Business Financial Targets (For FY 2028/9) Structura
Slide 41: 7. Revenue Growth
Mid-Term Plan (FY 2026/9 – FY 2028/9) – 7. Revenue Growth - HOME'S Core Business as the Growth via AI Engine for Revenue Growth • Client-Facing Services +α FY 2028/9 Growth Opportunities in Rural Real Estate and AI • Operational Efficiency Gains ¥35.0～ Other 40.0 Bil. Businesses POINT Revenue Other
Slide 42: 8. Our Focus: Operating Profit
Mid-Term Plan (FY 2026/9 – FY 2028/9) – 8. Our Focus - Scaling Top-Line Growth + Targeting Record Profit by Improving Productivity and Expanding Profit Margins Acceleration OP Margin Other via AI 15%+ +α ¥6.0 Bil. Businesses HOME'S Services +¥0.2～0.6 Bil. ¥5.5 Bil. +¥1.5～1.6 FY 2025/9 Bil. (Consolid
Slide 43: 9. Our Commitment
Mid-Term Plan (FY 2026/9 – FY 2028/9) – 9. Our Commitment - We have issued stock options to incentivize employees and executives toward reaching the targets set in our Mid-Term Plan and long-term value creation. Incentives Issued to Executives and Employees Stock Options for Mid-Term Management Plan
Slide 44: 10. Share Holder Returns
Mid-Term Plan (FY 2026/9 – FY 2028/9) – 10. Share Holder Returns - During FY 2025/9, we increased the dividend payout ratio to 30% (+5 pp). We currently meet the listing standards for the TSE Prime Market and remain committed to enhancing shareholder returns. Business Management by Will-Centric Publ
Slide 45: FY 2026/9 Full-Year Earnings Forecast
FY 2026/9 Full-Year Earnings Forecast 44
Slide 46: FY 2026/9 Paving the Way for our Future
FY 2026/9 Paving the Way for our Future 45
Slide 47: FY 2026/9 Strategy - 1. Investments & Expected Results
FY 2026/9 Strategy - 1. Investments & Expected Results - FY 2026/9 is positioned as an accelerated start toward realizing the Mid-Term Management Plan. Areas for Increased Investment Talent Acquisition Optimized Advertising AI & Generative AI • Sales Teams • Traffic Generation • Supporting Clients'
Slide 48: FY 2026/9 Strategy - 2. Integrating AI Technology
FY 2026/9 Strategy - 2. Integrating AI Technology - We have established a dedicated interdisciplinary department for AI project development Committee Members AI Transformation Head Committee CEO Led by CEO LIFULL Group Goal Accelerate step-change growth Representatives Companies and productivity gai
Slide 49: FY 2026/9 Strategy - 3. Breakdown of OP Forecast
FY 2026/9 Strategy - 3. Breakdown of OP Forecast - Accelerating investment (Sales, Development, AI) to ensure Mid-Term Plan success (JPY Bil.) 1.02 -1.03 -0.34 -0.22 -0.25 3.82 3.0 HOME'S関連事業の… 費用の増加（人件費… （本社移転関連費用） FY 2025/9 Increased Sales & Increase in Temporary Exp. Temporary Exp. FY 2026/9 2025
Slide 50: FY 2026/9 Results Forecast
FY 2026/9 Results Forecast Positioned as a year to fast-track our Mid-Term Plan objectives and break new ground for the LIFULL Group Condensed Statemants of Income and Loss Revenue by Segment FY2025 FY2026 FY2025 FY2026 (Oct.-Sep.) (Oct.-Sep.) Change Change (Oct.-Sep.) (Oct.-Sep.) Change Change Unit
Slide 51: Appendices
Appendices 50
Slide 52: Press Releases from July to September (Selection)
Press Releases from July to September (Selection) HOME'S Services & Corporate Other Businesses AI-Related Press Releases – (2025.7.30) (2025.7.17) LIFULL HOME'S Launches AI-Powered Image Search Function LIFULL Kaigo Media Series Published as Book on Finding a – (2025.8.26) Nursing Home LIFULL: Gold
Slide 53: Corporate Information (as of September 30, 2025)
Corporate Information (as of September 30, 2025) Company LIFULL Co., Ltd. Stock code 2120 (TSE Prime) Representatives INOUE Takashi, Representative Director, Chairperson ITO Yuji, Representative Director, President, Managing Officer History Mar. 12, 1997 Established Oct. 2006 Listed in TSE, Mother's
Slide 54: Annual Revenue and Timeline of Company Growth
Sale of LIFULL Annual Revenue and Timeline of Company Growth Marketing Partners Acquisition of FazWaz by LIFULL CONNECT COVID-19 Acquisition of 40 (JPY Bil.) Mitula Group Ltd. Sale of LIFULL SPACE Changed fiscal year (irregular 6-month period) ■ Revenue from Overseas Changed company name to Deconsol
Slide 55: Primary Group Companies
Primary Group Companies (Listed according to date of founding / acquisition) • Operation of one of the largest search engines for nursing homes and senior housing in Japan, LIFULL Nursing Care LIFULL senior Co., Ltd. • Operation of the search site "Minna no ihinseri" for companies which organize the
Slide 56: Segments and Primary Services
Segments and Primary Services Segments Main services LIFULL HOME'S AD Master (former Renter's Net) NabiSTAR HOME'S Services Kenbiya (Kenbiya Co., Ltd.) Offshore Development (LIFULL Tech Vietnam, LIFULL Tech Malaysia) LIFULL Kaigo (Nursing Care) (LIFULL senior Co., Ltd.) Regional Revitalization Busin
Slide 57: Consolidated Statements of Profit and Loss Quarterly
Consolidated Statements of Profit and Loss Quarterly FY2024 FY2025 Unit : JPY mil Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Revenue 6,096 7,183 6,374 6,657 6,458 7,833 6,768 7,068 Changes from FY 2025/9 Q2 HOME'S Services 5,527 6,575 5,860 6,060 5,951 7,079 6,144 6,354 • The Overseas segment has been Other Businesses
Slide 58: Selling, General and Administrative Expenses
Adjustments to Breakdown of SG&As From the second quarter, we have revised the breakdown of our selling, general and administrative expenses. These changes will better align our perspective with investors. Selling, General and Administrative Expenses Before After From FY 2025/9 Q2 Reason for Changes
Slide 59: LIFULL HOME'S
LIFULL HOME'S LIFULL HOME'S Real Estate and Housing Information Site https://www.homes.co.jp/ • Comprehensive Real Estate and Housing Information Service for all of Japan • Beyond Quantity: Secure information via internal review and data partnerships with key property management firms • Focused on A
Slide 60: Market Needs Over Time
Market Needs Over Time (End Users and Real Estate Professionals) The housing market is evolving. With robust internet access and diverse lifestyles are shifting demand from simply more units to higher quality living. This presents a prime opportunity for innovation. Internet Smartphone Remote Work H
Slide 61: LIFULL HOME'S Worldview (Reference)
LIFULL HOME'S Worldview (Reference) DISCOVERY INQUIRY Inquiries more likely to CONVERSION convert are the value CONSIDERATION VIEWING we provide to our clients More Inquiries Better Conversion Rates • Better UX & UI • Promotion • SEO • More clients and Sumai No Madoguchi Utilization of AI Richer Lea
Slide 62: Calculation of Regular Dividends
Calculation of Regular Dividends Distributable earnings are calculated in-line with our dividend policy by excluding certain non-recurring, non-cash factors from the current profit. Dividend Policy Payout Ratio No changes have been applied to the dividend policy apart from the increase Potential Pos
Slide 63: (Ref.) External Market Data Monthly
(Ref.) External Market Data Monthly Annual 2023 2024 2025 2022 2023 2024 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 (Jan-Dec) (Jan-Dec) (Jan-Dec) Capital Region 29,569 26,886
Slide 64: (Ref.) 2023 Housing and Land Survey Results
(Ref.) 2023 Housing and Land Survey Results (Statistics Bureau of Japan) The Statistics Bureau of Japan released the results of the Housing and on Sep. 30, 2024. The number of dwellings has continued to increase by 23.1 mil. from 2018 totaling 65.04 mil. as of Oct. 1, 2023. Trend of Total Dwellings
Slide 65: LIFULL Group Sustainability
LIFULL Group Sustainability Refer to the following for more details on our sustainability initiatives: Selected for the third year in a row (First selection: 2023) The FTSE Blossom Japan Sector Relative Index is a stock index that gathers Japanese companies with excellent ESG (Environmental, Social,
Slide 66: IR Team Contact Information
IR Team Contact Information IR Site Japanese English https://lifull.com/ir/ https://lifull.com/en/ir/ TEL +81-3-6774-1603 E-mail [email protected] (Weekdays 10:00 - 18:00 JST) LIFULL Sustainability Data Other Information about LIFULL (Prev. Twitter) Facebook Page LIFULL Sustainability Search Username：@L