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    Hiroko Sato • Jefferies Financial Group Inc.

    Hiroko Sato's questions to LY Corp (YAHOY) leadership

    Hiroko Sato's questions to LY Corp (YAHOY) leadership • Q4 2024

    Question

    Hiroko Sato asked about the potential conservatism of the FY'25 guidance given past outperformance and questioned the details of the cybersecurity budget, including reporting requirements and future spending plans.

    Answer

    Executive Ryosuke Sakaue noted the guidance reflects uncertainties in AI investment costs, particularly on the EBITDA line. He confirmed a JPY 10 billion cybersecurity budget for FY'25 is included in the guidance, focused on separating group companies from Naver's system. CEO Takeshi Idezawa added that progress reports will be publicly disclosed and submitted to the Ministry of Internal Affairs and Communications (MIC). Sakaue clarified this level of spending is not expected to continue into FY'26.

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    Hiroko Sato's questions to LY Corp (YAHOY) leadership • Q3 2024

    Question

    Hiroko Sato asked for a performance review of the Media, E-Commerce, and PayPay-related segments against internal targets for Q3 and requested any insights into the strategic plan and growth targets for the upcoming fiscal year.

    Answer

    Ryosuke Sakaue, executive, stated that Media and Commerce performed largely in line with internal plans, while the Strategic segment's EBITDA exceeded targets due to strong PayPay revenue and cost controls. For the next fiscal year, he indicated the company is targeting mid-single-digit revenue growth and adjusted EBITDA growth in the 5% to 10% range, hopefully at the higher end.

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