LIFULL LIFULL ANNUAL REPORT 2017
Contents 2 4 6 12 16 Vision and Strategy 18 LIFULL 20 LIFULL Value Model 22 22 24 26 28 28 30 30 34 CFO&CSO Fact Data 38 40 3 41 42 44 45 2017 4 1 LIFULL ANNUAL REPORT 2017 1
2017 4 1LIFULL LIFULL LIFE FULL LIFULL 3050100 LIFULL ESG LIFULL 2 LIFULL ANNUAL REPORT 2017
IFRS LIFULL 2017 3 DB & ReTech ID LIFULL AI IoT 53 LIFULL 20 1,140 3 1997 2017 71.3% 2.8% 15.2% 10.7% 2017 3 299 4 B2B 3 LIFULL ANNUAL REPORT 2017
Unique VALUE, Unique LIFULL #01 #06 #01 #02 One P's 178 1,046 One P's LIFULL #03 #04 LIFULL LIFULL #05 LIFULL HOME'S LIFULL HOME'S #06 LIFULL HOME'S 4 LIFULL ANNUAL REPORT 2017
LIFULL 20 LIFULL #07 #12 #07 #08 LIFULL 100 LIFULL senior LIFULL LIFULL #09 #10 LIFULL 100 LIFULL M&A LIFULL LIFULL LIFULL #11 #12 100 LIFULL HOME'S LIFULL HOME'S LIFULL HOME'S LIFULL ANNUAL REPORT 2017 5
6 LIFULL ANNUAL REPORT 2017
LIFULL 2017 4 1 LIFULL LIFE FULL LIFULL LIFULL 1997 HOME S LIFULL HOME S 20 3 1 2 3 3 LIFULL HOME S 700 2 2,000 4 LIFULL HOME S LIFULL HOME S LIFULL HOME S LIFULL ANNUAL REPORT 2017 7
4 LIFULL HOME S 3 4 1 3 4 2011 1502 2,000 150 70 80% ARPA 1 2017 4 Vietnam Creative Consulting Co., Ltd. M&A 8 LIFULL ANNUAL REPORT 2017
100 300 100100 LIFULL ANNUAL REPORT 2017 9
LIFE FULL 180 100 100 CEO 3 3 1 LIFULL Lab AI 2 3 100 10 LIFULL ANNUAL REPORT 2017
3 2017 20 2020 3 3 2020 3 500 2017 & Trovit Search, S.L. 53 2 LIFULL HOME S 700 AI ICT HOME S Lifull LIFULL P.28 Virgin LIFULL 20 LIFE FULL LIFULL Virgin Group 2017 8 LIFULL ANNUAL REPORT 2017 11
2017 4 1 2 LIFULL HOME S LIFULL 3 LIFULL HOME S 4 5 C Channel 3 5 1 2 4 2017 6 22 2017 6 6 12 LIFULL ANNUAL REPORT 2017
2017 4 6 7 8 9 7 9 8 6 LIFULL ANNUAL REPORT 2017 13
2017 6 28 2032,941,000 1968 1991 1992 1995 1997 2011 HOME S 2014 Next Wisdom Foundation Trovit Search, S.L. Chairperson 2015 21 2016 2017 LIFULL 3160,200 1973 1992 1996 2000 2010 HOME S 2014 HOME S 2015 LIFULL Marketing Partners 2016 LIFULL Remodel 2017 LIFULL Vietnam Creating Consulting Co., Ltd. 38,000 1971 1994 2003 2012 HOME S 2014 HOME S HOME S 2016 LIFULL HOME S 40 1959 1982 2007 2011 2012 2013 2014 20 1967 1989 2000 2003 LINE 2007 2015 C Channel 0 1964 1987 1999 2000 2004 2010 Edy 2013 2014 2017 14 LIFULL ANNUAL REPORT 2017
1100 1956 1980 1998 Mitsubishi International Steel Inc. 2006 C60 2007 2011 TRILITY Pty Ltd 2016 120 1943 1971 1976 2003 2004 2005 2006 2007 2008 2012 2013 2014 40 1954 1977 2004 2006 2007 2009 2010 Edy 2011 KC 2012 2013 2014 2015 40 1963 1987 1991 1996 1997 2000 2006 2008 2010 2011 M&A 2012 2013 2015 LIFULL ANNUAL REPORT 2017 15
2017 6 28 LIFULL HOME S 1961 1984 2000 2008 LIFULL HOME S 1961 1984 2010 2016 LIFULL Remodel 2017 JG 1967 1990 Merrill Lynch & Co. 1998 1999 2006 2011 2012 2014 Trovit Search, S.L. LIFULL HOME S 1969 1992 2012 2015 LIFULL Marketing Partners SUI Products 2016 LIFULL FaM 2017 JG 1976 2005 2015 LIFULL HOME S UX 1982 2006 2015 2016 LIFULL bizas 1963 1987 1994 1999 2000 2002 2003 2004 2006 CFO 2011 2016 2017 JG 16 LIFULL ANNUAL REPORT 2017
Vision and Strategy 18 LIFULL 20 LIFULL Value Model 22 22 24 26 28 28 30 30 34 CFO&CSO LIFULL ANNUAL REPORT 2017 17
LIFULL LIFULL HOME'S 1995 7 1997 3 1997 19951999 4 HOME S LIFULL HOME S LIFULL HOME S 20002007 HOME S 2002 1 2006 10 2005 4 HOME S 10 HOME S 12 HOME S 2007 2 4 10 HOME S LIFULL 12 HOME S 2010 3 2011 2 MONEYMO LIFULL 2 16 2 9 2008 2 HOME S 7 HOME SLIFULL 12 2009 12 ioshome S 2010 20082011 2 HOME S 4 Android HOME S 7 2011 1 HOME S 5 Annex http://www.homes.co.jp/ LIFULL HOME S 2009 12 ios HOME S 2010 4 Android 18 LIFULL ANNUAL REPORT 2017
20122017 2012 1 4 PT. Rumah Media 8 2013 9 2014 4 EC HOME S Style Market LIFULL 10 LIFULL FaM 11 Trovit Search, S.L. 2012 11 HOME S 2013 1 7 HOME S LIFULL HOME S 7 HOME S PRO LIFULL HOME S B2B 8 HOME S 9 HOME S PRESS LIFULL HOME S PRESS 10 HOME S LIFULL 10 HOME S 11 1 HOME S 2015 5 LIFULL Marketing Partners 7 LIFULL senior LIFULL MOVE LIFULL FinTech LIFULL SPACE 7 11 LIFULL bizas 12 2014 7 DMP 2015 1 5 Realtor.com 7 HOME S PRO 9 LIFULL HOME S 10 2016 9 HOME S DIY Mag LIFULL HOME S DIY Mag 10 HOME S 11 LINE 2017 4 HOME S LIFULL HOME S 2016 4 One P s 9 11 LIFULL Remodel 2017 1 JG 3 2017 1 3 4 LIFULL 4 Vietnam Creative Consulting Co., Ltd. HOME S LIVE GRID VRICK P.26 LIFULL ANNUAL REPORT 2017 19
LIFULL Value Model LIFULL LIFULL 01 02 P.22 P.28 P.22 LIFULL HOME S P. 24 P.26 LIFULL Lab 2020 3 500 EBITDA 20 % 1 HOME S 2 100 3 20 LIFULL ANNUAL REPORT 2017
03 P.30 LIFULL ANNUAL REPORT 2017 21
BRAND LIFE FULL LIFE FULL LIFULL LIFULL LIFULL logo LIFULL L L VOICE symbol logotype LIFULL P.5 #10 22 LIFULL ANNUAL REPORT 2017
LIFULL HOME S 2017 3 LIFULL HOME S LIFULL HOME S 2016 10 CM CM VOICE ios Sticker P.4 #03 imessege ios10 Sticker http://www.homes.co.jp/ about/homeskun/ 1997 2005 LIFULL ANNUAL REPORT 2017 23
HUMAN RESOURCES LIFULL LIFULL P.25 2017 2017 1 LIFULL 2017 1 Great Place to Work Institute Japan 2017 4 Great Place to Work Institute Japan 2017 3 100 999 24 LIFULL ANNUAL REPORT 2017
LIFULL LIFULL Switch 2016 130 100100 155 Switch LIFULL 2017 4 7 PHP LIFULL 2017 3 67.3% 32.7% 33.8 714 4.9 2015 42017 3 LIFULL 86.2% 570 755 946 1,140 2014 3 2015 3 2016 3 2017 3 LIFULL ANNUAL REPORT 2017 25
TECHNOLOGY & LIFULL LIFULL AI LIFULL HOME S http://www.homes.co.jp/price-map/ LIFULL HOME SAI https://www.homes.co.jp/owner/ 26 LIFULL ANNUAL REPORT 2017
LIFULL Lab LIFULL 2011 4 LIFULL Lab LIFULL Vietnam Creative Consulting 2017 4 Vietnam Creative Consulting Co., Ltd. LIFULL LIFULL Lab GRID VRICK 3D VR LIFULL Lab 2011 4 Vietnam Creative Consulting 2017 4 VOICE LIFULL LIFULL LIFEFULL LIFULL CTO LIFULL HOME S CTO Chief Technology Officer CTO ICT http://www.creators.lifull.com/ 2017 3 40% LIFULL ANNUAL REPORT 2017 27
MEDIUM TERM BUSINESS PLAN & 3 & No.1 3 2020 3 500 EBITDA 2020 3 20% ARPA HOME S ARPA ARPAHOME S 2 1 1. 2. 1Average Revenue Per Agent AI 3700 2 2,000 AI LIFULL HOME S ID 1 HOME S 28 LIFULL ANNUAL REPORT 2017
VOICE VR P.5 #12 GRID VRICK AI LIFULL HOME S 2 100 14 100 100 100 Switch 1307 CVC LIFULL Ventures CSOLIFULL 3 LIFULL 53 SEO VOICE P.5 #07 2017 3 4 53 LIFULL ANNUAL REPORT 2017 29
MANAGEMENT STRUCTURE 1 1 30 LIFULL ANNUAL REPORT 2017
PwC 1 1 1 6 2 95,309 7,500 5 5 33,000 33,000 11 7 128,309 40,500 2017 3 2017 5 HOME S LIFULL ANNUAL REPORT 2017 31
2017 3 BtoC e 1717 SNS 1717 CFO CRO 2017 6 1313 1313 2016 6 1717 1818 1716 1817 1716 1816 IT d. 10% e. 3 f. 3 a. e. g. a. e. 4 a. 1 b. 2 1 c. 10% 1. 2. 2319 3. 1,000 4. 2 32 LIFULL ANNUAL REPORT 2017
LIFULL LIFULL 2 LIFULL 2 LIFULL LIFULL LIFULL IT SNS LIFULL LIFULL 2017LIFULL LIFULL LIFULL LIFULL LIFULL LIFULL ANNUAL REPORT 2017 33
CFO&CSO CSO CSO Chief Strategy Officer Q ROE ROA 1 3 34 LIFULL ANNUAL REPORT 2017
CFO CFO Chief Financial Officer CFO CSO 25% Q M&A M&A M&A M&A 100 100 LIFULL ANNUAL REPORT 2017 35
CFO&CSO CEO CFO CFO Q 20% 30 100 LIFE FULL 36 LIFULL ANNUAL REPORT 2017
Fact Data 38 40 3 41 42 44 45 LIFULL ANNUAL REPORT 2017 37
LIFULL HOME S SEO WEB WEB WEB 38 LIFULL ANNUAL REPORT 2017
LIFULL HOME S Trovit LIFULL HOME S Trovit 2017 3 31 20.03% http://lifull.com/ir/ir-data/ird-fs/ LIFULL ANNUAL REPORT 2017 39
3 LIFULL IFRS 2015 3 2016 3 2017 3 18,165 25,707 29,920 583 2,127 3,080 14,391 18,625 21,408 4,440 6,269 7,039 5,941 7,345 8,400 718 1,016 1,010 3,290 3,993 4,957 EBITDA* 1 3,149 4,859 5,312 458 864 1,245 2,691 3,994 4,066 1,796 2,670 2,765 22,592 25,265 27,110 10,824 16,922 18,471 7,013 2,439 1,454 * 2 2,745 4,185 4,592 2,193 3,175 3,163 13,051 93 2,134 6,734 868 1,517 * 3 10,858 3,268 1,028 1,069 691 1,654 61 71 60 EBITDA % 17.3 18.9 17.8 % 14.8 15.5 13.6 ROE % 17.1 19.2 15.6 ROA % 14.7 16.8 15.6 * 4 0.65 0.14 0.08 % 47.9 67.0 68.1 1 * 5 15.91 22.87 23.30 * 5 15.90 * 5 2.88 4.50 5.66 % 18.1 19.7 24.3 1* 5 95.86 142.54 155.59 * 5 598.5 1,381.0 755.0 PER* 5 37.64 60.38 32.40 PBR 6.24 9.69 4.85 755 946 1,140 40 LIFULL ANNUAL REPORT 2017
IFRS 2015 3 2016 3 2017 3 15,601 18,345 21,176 9,752 12,068 14,044 * 6 4,537 4,713 4,851 817 889 1,329 493 673 951 2,729 3,540 3,842 908 4,122 6,864 22 7 117 1,203 3,507 3,193 114 550 346 452 671 833 99 80 22 1. EBITDA = 2. = - 3. = + 4. = 5. 2015 3 2015 6 112.0 6. 2015 10LIFULL Marketing Partners 24,000 18,000 12,000 6,000 10,443 11,652 14,444 19,377 22,425 8,000 6,000 4,000 2,000 4,044 4,255 5,193 6,981 7,436 9,000 6,000 3,000 6,517 7,388 7,207 7,134 8,560 0 0 0 13 14 15 16 17 3 13 14 15 16 17 3 13 14 15 16 17 3 LIFULL ANNUAL REPORT 2017 41
1,600 1,400 1,200 1,000 Trovit 800 600 400 200 0 07/1 08/1 09/1 10/1 11/1 12/1 13/1 14/1 15/1 16/1 17/1 ROE % 25 20 15 16.1 14.5 13.9 17.1 19.2 15.6 10 7.9 5 6.8 5.6 7.0 0 08 09 10 11 12 13 14 15 16 17 3 % % 12 9 6 3 5.5 9.5 4.2 10.3 4.5 9.1 5.1 9.9 10.4 9.4 120 90 60 30 119.1 110.6 103.5 109.2 103.9 102.0 109.5 80.4 101.4 110.4 2.5 2.0 1.5 1.0 0.5 1.3 1.3 1.4 1.3 1.2 1.2 2.1 1.3 1.5 1.5 0 0 0 08 09 10 11 12 13 14 15 16 17 3 08 09 10 11 12 13 14 15 16 17 3 08 09 10 11 12 13 14 15 16 17 3 42 LIFULL ANNUAL REPORT 2017
1 6.0 5.66 5.0 25 4.50 24.3 4.0 20.0 20.0 20 18.1 19.7 15.0 3.0 2.88 15 2.37 2.0 10 % 30 1 2014 1 1 13 2015 6 1 12 1.0 0 0.62 1.08 12 13 14 15 16 17 5 0 3 2016 3IFRS % 2017 3 100 75 50 25 0 4.2 11.4 9.0 18.7 13.3 18.6 16.6 21.7 20.6 20.5 17.4 35.1 32.6 27.6 49.5 42.1 41.8 33.2 29.0 37.1 13 14 15 16 17 3 % 32,941,000 27.73% 23,797,100 20.03% 8,724,600 7.34% THE BANK OF NEW YORK 133524 4,031,000 3.39% BBH FOR MATTHEWS JAPAN FUND 3,573,800 3.01% JPMC OPPENHEIMER JASDEC LENDING ACCOUNT 3,448,100 2.90% 2,400,000 2.02% J.P. MORGAN BANK LUXEMBOURG S. A. 385576 2,194,100 1.85% SAJAP 1,759,100 1.48% BNYM SA/NV FOR BNYM FOR BNYM GCM CLIENT ACCTS MILM FE 1,642,509 1.38% 84,511,309 71.14% + IT 2017 ROI 5 IT 3 20172 LIFULL ANNUAL REPORT 2017 43
2017 4 1 * LIFULL LIFULL Co., Ltd. 1997 3 12 102-0083 1-4-4 3,999 1,140 Trovit Search, S.L. LIFULL Marketing Partners 2017 3 2017 6 28 10 1 9 30 12 9 30 168-0063 28 4 0120-782-031 2120 100 http://lifull.com http://lifull.com/ IR http://lifull.com/ir/ 44 LIFULL ANNUAL REPORT 2017
VOICE One P 1% LIFULL 1% One P s P.4 #02 VOICE LIFULL2017 4 1 501 ENGAWA P.4 #01 LIFULL Fab ENGAWA LIFULL Table LIFULL HUB http://table.lifull.com/ 9 00 18 00 TEL 03-6774-1700 http://hub.lifull.com/ TEL03-6774-1690 LIFULL ANNUAL REPORT 2017 45