FY2014 Q2 Financial ResultsDecember 5, 2014

Q2 2014 Highlights

■ Continued growth in Premium Services and Advertising 　 　 Net sales up 38.8％ YoY 　 　 Operating income up 38.3% YoY

(on unconsolidated cumulative basis) !■ Planned acquisition of Arabic recipe service in Jan 2015 　 Enabling Cookpad Group to introduce its services to 　 1.2 billion potential users !!■ Launch of a new chargeable service for retailers in “Grocery Deals (Tokubai Joho)” in March 2015

2

Consolidated Results

May - October 2014

Major Consolidated Companies

4

Company Business Description

ALLTHECOOKS, LLCRecipe service in English

COOKPAD SPAIN, S.L.Recipe service in Spanish

DAPUR MASAK PTE. LTD.Recipe service in Bahasa Indonesia

Overseas

Company Business Description

Coach United Inc.Market place of private lessons

SELECTURE, inc.Operating “Angers”, an online home & kitchen store

■ SELECTURE, inc. was newly consolidated in Q2

Japan

Parent to Consolidated Reconciliations

5

Parent !

Operating Income

2,254M JPY

Goodwill Amortization228M JPY Others

172M JPY

1,854M JPY

Consolidated !

Operating Income

　Six months ended Oct ’13（Parent）

Six months ended Oct ’14 (Parent）

Change

Net Sales 3,072 4,265 +38.8％

Operating Income 1,630 2,254 +38.3％

Ordinary Income 1,596 2,274 +42.4％

Net Income 990 1,458 +47.2％

（in Millions of JPY）

Six months ended Oct‘14 （*Consolidated)

4,668

1,854

1,856

1,052

Q2 Financial Highlights

6

*Consolidation started at the end of Q2 in the previous FY, thus consolidated income statements only available since Q3 FY ended April 2014.

※1

Operating Income before Amortization

1,630 2,254 +38.3％ 2,082

Parent Company Results

May - October 2014

YoY Growth in Net Sales

　Changes primarily due to

Premium Services

Strong and continued growth in premium membership

Advertising Sales boosted by advertising on smartphones

Others“Tabemiru” (food data search service), publication of cooking books, etc.

8

0

1,000

2,000

3,000

4,000

5,000

Six months ended Oct ‘13 Six months ended Oct ‘14

101

3 1,692

1,235

2,4701,833

Premium ServicesAdvertisingOthers

(in millions JPY)

4,265+38.8%

3,072

Net Sales Trends

9

(in millions of JPY)

0

500

1,000

1,500

2,000

2,500

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q３ Q4 Q1 Q2 Q3 Q４ Q1 Q2

65

3513

221928

764705

564574660620

485452420480

390413302354414410373

1,2801,1901,1141,019956877816775727681638582558542497451402358

Premium ServicesAdvertisingOthers

FY2011FY2010 FY2012

732865813 851 844

972 9731,1031,119

1,259

1,437

1,539 1,533

1,180

1,587

1,990

1,834

FY Dec 2014

2,274

FY Apr 2014

0

500

1,000

1,500

2,000

Six months ended Oct “13 Six months ended Oct ‘14

495

352214

73103

69 283

210

881701

Personnel expensesSales commissionsCloud computing feesPromotion feesOthers

YoY Growth in SG&A Expenses

10

(in millions of JPY)　

changes primarily due to

Personnel expenses

Number of employees increased from138 to 183 y/y

Sales commissions

Accompanied by the increase in membership sales

Cloud computing fees

Increased in proportion to membership and services

Promotion fees Higher spending on affiliate marketing

Others Expenses related to the business expansion

1,979

1,406

■ While expenses increased, operating margin remains over 50%

SG&A Trends

11

(in millions of JPY)

0

200

400

600

800

1,000

1,200

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q４ Q1 Q2

275220

192

180182

169150

132138135133129105116

220

937189

9212165

70462613

20172

525147

38363231

2625283428503130

272727

146136127

11110710395

8780726757515250

444035 446435449364359341365

292281285300265259251262203191174

Personnel expensesSales commissionsCloud computing feesPromotion feesOthers

327 330370

565

451 466 482535 522 544 559

656 673733 765

882965

1,013

FY2012FY2011FY2010 FY Dec 2014FY Apr 2014

Operating Income Trends

12

(in millions of JPY)

0

200

400

600

800

1,000

1,200

1,400

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

394

470 486

275

386

491 481

569 563

769

691

620

843787 810

1,013

935

1,241

FY2012FY2011FY2010 FY Dec 2014FY Apr 2014

（in millions）

Cookpad Users Trend

※1 Every visit through any means of the above categories is counted as one. ※2 A new category which has been applied since July 2014. ※3 iPhone apps formerly included in “Others” is now included in “Apps”. ※4 Tablets users included here.

■ Now exceeding 50 million users per month

0.0

10.0

20.0

30.0

40.0

50.0

60.0

July Oct Jan Apr July Oct Jan Apr July Oct

0.8

1.01.11.2

1.4

1.52.2

2.63.5

4.3

8.4

7.99.5

8.67.9

7.06.6

5.85.0

3.8

23.819.917.816.614.3

11.09.98.76.85.3

17.316.215.715.016.014.814.113.914.212.7

PCSmartphone BrowsersAppsFeature Phones

FY2012

Users on smartphones

!32.2M

FY APR 2014 FY Dec 2014

29.4 30.9 32.7 34.239.5

41.3

50.3M

26.1

44.0 44.9

Monthly Users ※1※2 ※3

※4

Increasing Cooking Recipes

14

(in millions）

1.0

1.2

1.4

1.6

1.8

2.0

July Oct Jan Apr July Oct Jan Apr July Oct

1.271.33

1.381.45

1.511.57

1.631.71

1.781.86

FY2012

Number of Posted Recipes

FY Dec 2014FY Apr 2014

0.3

0.5

0.8

1.0

1.3

1.5

Premium Services

15

0

200

400

600

800

1,000

1,200

1,400

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

1,280

1,190

1,114

1,019956

877816

775727

681638

582558542497

451402

358

FY ‘12FY ‘11

Quarterly Sales (in millions of JPY)

■ Paying subscribers (Premium Members) continue growing

FY Dec’14FY ‘10

Premium Members

(in millions)

FY ‘11 FY ‘12 FY Apr’14 FY Dec’14FY ‘10FY Apr’14

Premium Members Trend

16

0

30,000

60,000

90,000

120,000

150,000

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2FY2011 FY Apr 14

(Actual unit)

Free-trial ended (Upgraded to premium members)

NET increase of Premium Members

FY2012

Free-trial started

Temporary plunge due to switching to smartphones

FY Dec 14

Cutback of store affiliates

■ To be depending less on affiliates, more on new services

A New Paid Service “Professional Recipes”

17

■ “Professional Recipes” launched in Sept 2014, offering unlimited subscription of popular recipes on reputable books and magazines

・￥360 per month (plus tax) to access more than 10,000 recipes !・Partnered with 13 major publishers eg. “Orange Page”, “Lettuce Club”

Advertising

18

420480

390413

302

452485

620

FY Apr 2014 FY Dec 2014

Sales by Source（in millions of JPY）

0

125

250

375

500

625

750

875

1,000

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q４ Q1 Q2

302

264184

143131

109152

121117102126

7218

19

312

266266192

163

209181

145105768788

81

61

312233254228279341286

218229242265228311

222

Tie-up adsDisplay adsNetwork ads

FY2011 FY2012

574 564

660620

485420 452480

390413

302

705764

928

0

100

200

300

400

Q1 Q2 Q3 Q4 Q1 Q2

174

FY Apr 2014

Smartphone Ads

19

■ Sales keep rising strongly

Smartphone Ads Sales(in millions of JPY)

FY Dec 2014

64

363303

Smartphone Ads by Diversified Clients

20

■ While PC ad focused on Food & Bever, smartphone ad expanded and diversified our advertiser base around women’s products.

Topics

Expanding to the Arabic Speaking Market

22

■ A leading recipe service in Arabic to be acquired in January 2015 ■ ”Shahiya” - the largest recipe website in Arabic speaking countries with users that can exceed 4 million during Ramadan

Users cover the Middle East & North Africa

Enabling Service Delivery to 1.2B People

23

Spanish 0.40B

English 0.33B

Indonesian ※2 0.14B

Arabic※3 0.20B

Japanese 0.12B

※1　Source: http://www.ethnologue.com/ ※2 Including Bahasa Indonesia and Bahasa Melayu ※3 Coverage expected to start in January 2015

total 1.2 billion people

For babies

A new portal for baby foods. To evolve as a place for parents to find day-to-day tips on raising children.

“Baby and Mom”For toddlers

An educational app for toddlers. More apps will be in stores for a wider age range.

“Narikiri!! Gokko-Land”

Expanding Services to Child-Raising

24

■ A half of female users in their 20s - 40s revealed to have children, showing strong needs in child-raising support.

With many parent users

“Grocery Deals” - More Stores and Users

25

0.5

1.0

1.5

2.0

2.5

3.0

3.5

May Aug Nov Feb May Aug Oct

Num. of Registered Users

exceeded 3.1M in Oct 2014

FY Apr ‘14

（in million）

※1 Provided via “Shufumo”, a grocery flyer clipping service ※2 Source: METI 2007 Commercial Statistics in retailing

Online flyers browsable

10,000 stores

Real-time grocery deals deliverable

7,000 stores

Total 20,000 grocery stores in Japan ※2

※1

FY Dec ‘14

Num. of Registered Stores

A New Paid Service of “Grocery Deals”

26

■ A new chargeable service for retailers to launch in March 2015. The Big-A, a grocery chain with185 stores in Japan will be joining. !■ ￥5,000 per month entitles to: • Prioritized display • Customer drawing support (Campaign notification, etc.） • Promotion kit (Cookpad logo and recipes for use)

and more… !

Make everyday cooking fun

【Contacts】 Cookpad Inc.

Mail: ir@cookpad.com

This presentation contains certain comments that may be characterized as forward-looking statements. Those statements are based on information currently available to management and its beliefs and assumptions regarding future business and financial performance. A number of factors such as changes in business environment may cause actual results to differ materially from any future results or performance expressed or implied by this presentation.