KLab（3656）
Contents
1.2. 30 App Store Google Play
3. SNS http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved KLab 3656 Shared Research Report 2015 2 12 Freemium Free Premium 2
4. 2012 eMarketer 2011 1806 2013 4906 2014 70
5. 1 3 09 2 6 8 3 8 6 7 1
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8. 1 ah Y P Shared esearch la http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved a KLab 3656 Shared Research Report 2015 2 12 20130120000 120 000 SJ SJ IM E O O 0010 00000SRO 0 0 1 20
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12. Shared search a http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved gt KLab 3656 Shared Research Report 2015 2 12 80 2014 6 2013 12 85 43 SR ARPPU Average Revenue Per Paying User DES 1 SR 10 000 420 000 SR ARPU 20 2013 12 4
13. KLab Global Pte Ltd KLab Cyscorpions e KLab America Inc IP KLab China Inc KLab Ventures Shared esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved KLab 3656 Shared Research Report 2015 2 12 SW Strengths Weaknesses Strengths SR
14. 98 2014 8 2014 8 7 2014 12 2 2014 12 2 9 585 ADA 8 925 696 ADA 216 700 216 541 141 A
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16. a j Shared esearch in http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved KLab 3656 Shared Research Report 2015 2 12 MOG 2012 2013 12
17. SR Inc SR Inc Shared Researcn SR Inc SR Inc SR Inc
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19. 8 31 12 31 1 2014 1 3 1 2012 9 11 A 2013 12 5 2013 9 12 B 2014 12 1 A 4 31 ARA 3 4 SE 1
20. e 2013 7 SI Ao 2013 12 bah P Sh ared Nesearch ig http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved y pa KLab 3656 Shared Research Report 2015 2 12
21. 2000 3DCG MMORPG Massively Multiplayer Online Role Playing Game RPG 2007 Facebook Facebook Platform Zynga FarmVille 8 300 Facebook
22. TV 2014 4 2014 5 26 300 ARPPU 1 ARPPU
23. SR 20130 120 0 0 00000000 091 0 1000 1100 1270 130 140 HHHHHHHHHHH HH DeNA 80 37 607 48 105 112 728 146 501 202 467 182 600 dao 000 000 13 945 35 231 64 178 158 231 152 238 DUDU OUO UDUD 9 187 10 293 13 229 13 334 12 632 11 500 pod 4000000000 00 OOUDOUN 10 294 9 240 9 608 25 822 163 060 DUDU 0 O O 363 1 515 2 283 5 072 16 767 45 000 KLad TH D O O 2 365 2 953 5 665 15 210 15 745 O OO 000000SRO O O pod 000000 DKE 0000 20130 1270000000 16010 O 0101000000 00 500 000 HHHHHL HL 0480800 8 O 0 0 UKLade 130 0 O O O 020 9930 0 O O DO DO DU P Shared esearch la http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved a KLab 3656 Shared Research Report 2015 2 12 2014 6 809 200 20130 120 O 20140 120 O 2Q 3Q 5Q Lo 2Q 00000000000 13 4 253 415 548 591 67 7 799 HHHHHHHH 866 747 585 452 409 323 201 00000 000
24. 3793 1 3662 App Annie iOS GooglePlay 2013 amp OS 10 2013 12 LINE http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved KLab 3656 Shared Research Report 2015 2 12 ae 20131 60 300 20130 90 300 20130 120 31 iOS Google Play iOS Google Play Google Play 1000000000 000000000 000000000 000000000 000000000 000000000 000000000 000000000 000000000 000000000 000000000 000000000 2 LINE WIND runner LINE Pokopang LINE Pokopang 20000000000 HH LINE NAVER J APAN LINE HH HH 3 LINE WND rumer LINE POP 00000000000 LINE Pokopang LINE Pokopang NAVER J APAN LINE HH NAVER APAN LINE 4
25. amp 377 ADA 55 4 12 ADA 96 7 P Pointer DSAS Hosting for Social 2011 8 Sh ared Nesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved KLab 3656 Shared Research Report 2015 2 12 951 624 09 549 162 4 3 566 340 4
26. 2014 2 2013 7 sweet De e http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved KLab 3656 Share
27. 2014 12 2 2013 12 2 53 99 Sh ared Nesearch il http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved KLab 3656 Shared Research Report 2015 2 12 App Store 3 1 2 1
28. SR MG SBS KLab
29. 2 3 9 2096 2014 6 2013 12 114 57 SR ARPPU SR 5 000 10 000 http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved KLab 3656 Shared Research Report 2015 2 12 46 2013 12 4 1 1 400 SR Mobage 20 GREE 8 mixi 6 2013 F 12 2012 8 70
30. 2015 12 1 DO 2014 12 4 http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved KLab 3656 Shared Research Report 2015 2 12 2014 12 2013 12 2014 1
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32. 2014 1 00941 NASDAQ AAPL iPhone App Store 20 App Store NASDAQ GOOG Google Play 3 5 1 3 5 App Annie Index Market 02 2014 2014 12 2 4 6 5 160 BAH ERES 600 ela 594 AHH 490
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35. 2010 8 0000 091 80 O 100 80 O 110 80 0 120 80 0 130 1200 140 120 0 0000 O O O O IIHHHHH 7 3 6 5 6 3 10 3 11 6 9 6 HHHHHHH 49 7 56 4 58 2 35 6 31 6 38 0 IlHHHHH 7 8 12 5 24 7 33 2 28 1 14 7 IIHHHHHHH 46 6 29 2 14 8 11 0 13 0 24 9 IIHHHHHUHHH 00 D 3 1 27 3 43 4 24 6 18 6 13 1 0000 000000SR0 0 O HHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH 1 2 1 IDC 1 1
36. 24 1 20 Sh narod esearch la http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved a KLab 3656 Shared Research Report 2015 2 12 6 1 1 3 MEE CU 2 3 300602 10 55 BE INEB 1 5 10 3 3 000 HA 8 000
37. 11 SI 2013 8 free to play Kabam 2013 11 Qihoo360Technology Co Ltd bah P Sh ared Nesearch ig http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved y pa KLab 3656 Shared Research Report 2015 2112 i amp 2014 11 B 2014 11 10 2014 12 3 2014 12 3 15 940 15 585 1 891 ADA 1 296 1 999 ADA 1 293 1 290 ADA 1 032
38. 2013 12 20110 80 0 20120 80 20130 120 0 gQ 10 10 10 00000 283 487 646 741 7 774 00000 0 111 128 205 208 237 0000000005 00 2013 120 000000016000 00000 3 1 2 KLab Cyscorpions 2013 4 237 111 2013 12 2013 12 2013 12 4 66 20 46
39. 2009 11 SAP DSAS Hosting for Social http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved KLab 3656 IlHHHL 09 80 O O0 00D 0 O HH 000 2 365 Doo 6 1 DODO 1 172 DUDUH 1 194 000 000000 505 0000000000 1 115 00000000 47 1 OO 79 000 00000 33 HHHHH 2 HHHHH 27 OO 54 000 00000 23 0000 29 0000 2 0000 13 DUDUH 94 000 UUU 4 0 HHHHHHHHHHSRHHH 100 80 O O O 2 953 24 9 1 786 1 168 2 2 39 5 1 017 34 4 151 91 5 5 1 0 19 131 144 9 44 0 14 92 210 123 2 7 1 110 80 O O O 5 065 91 8 3 386 2 279 95 2 40 2 1 317 23 3 962 538 1 17 0 0 11 951 624 0 16 8 18 29 390 550 162 4 9 7 O O 15 210 168 5 9 380 5 830 155 8 38 3 3 019 19 8 2 811 192 3 18 5 13 4 2 820 196 496 18 5 0 7 1 191 1 623 195 0 10 7 D200D000 000 00000000000 0000000000000 000000000 20130 1210000000160 000000 O O 20 993 16 159 4 835 23 0 6 058 28 9 1 224 319 38 942 487 1 624 483 2 564 Shared Research Report 2015
40. JAVA VM Virtual Machine 1998 i amp CTO 2000 R amp D KLab CEO 2000 6 Java ERA 2014 E 6 843 2013 12 2 2 DHE HERT 2014 12 AEBIC LVCIA TESLTANDHATIEISI DD WoR 2015 12 IR 4
41. SR Inc SR Inc SR tnc 3 31 12 amaia 03 5834 8787 http www sharedresearch jp Email info Osharedresearch jp ah Sh ared Nesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved
42. 2013 12 2 2014 12 4 73 4 291 081 805 421 Sh ared jesearch iS http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved z KLab 3656 Shared Research Report 2015 2 12 aF 140 120 0 0 0 140 120 O 150 120 O 00000 Ql Q20 0 Q30 0 Q10 Q2 Q3 Q4 5 160 6 355 5 600 HHHHH 16 6 23 2 145 3 1 DUDUH 26 5 3 613 4 076 HHHH 1 548 2 279 33 0 47 3 OOO 30 0 35 9 HHHHHHHHH 2 015 1 084 HHHHHHHH 39 1 17 1 0 HH 600 1 195 700 HHHHH 524 4 99 2 712 157 1 628 4 OooDoO 11 6 18 8 11 0 0000 594 1 300 600 457 4 119 0 56 6 6 3 DUDUH 463 5 D
43. DRE ah Sh ared Nesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved KLab 3656 Shared Research Report 2015 2 12 2013 8 free to play Kabam 2013 11 Qihoo360Technology Co Ltd 2 63 2014 2 Shanda Games Limited F NHN Entertainment NHN NHN
44. Berg Insight OF 2012 84 8 400 17 2017 186 1 8 600 http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved KLab 3656 Shared Research Report 2015 2112 20120 0 0 20130 0 0 DU 00L 1391 9 0001 20161 4420 0 0400000 120127 30 0 0 O IILHHHHH 841 00 20170 1860 D Berg Insight 20130 20 O O O Canalys 2013 1 3 22 Apple App Store 74 2012 5 18
45. iOS 1 App Store 1 2012 8 App Store 10 2012 7 Android 300 2012 5 foriPhone TALES OF KIZUNA SI 1 062 ADA 15 0 541 4 8
46. 2014 1 2014 2 1 6 8 1 2 1 2013 12 141 825 830
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48. 40 2013 12 O 2014 12 2 1375 35 8 18 2 164 918 2 858 706 1 593 1 923 2015 1 1 3 19 5 600 26 5 157 19 700 628 4 6 3 600 463 5
49. 2013 12 2014 12 HHHHHHHHHHH 09180 0 100 80 0 11080 0 120 800 130 1200 140 120 O oo 0 00 o O O O O O O O O O O O HHHHHHHHHHHHHHH 1 331 86 471 2 260 1 316 2 825 0000 00000000000 2 2 159 85 1 087 2 507 912 FCF 1 2 329 245 386 1 173 3 823 1 913 HHHHHHHHHHHHHHIH 105 72 90 32 6 363 524 HHHHHHHHHHHHH A 15 35 53 118 687 404 HHH B 4 9 91 22 2 199 832 HHHHH C 173 283 621 249 171 166 O O FCF NI AHB C 67 47 109 1 470 3 905 1 200 000 000000SrR DUL HHHHHHHHHHHHUHHHHHHHHHHHHHHHHHHUHHHHHHHHHHHH 20137 120 0 0000001600 000000 2012 8 AM 2 813 2012 8 118 2012 8 249 2012 8 416
50. 000 0 0 O O O O O O O O O O 000 479 573 900 1 382 3 882 DUDUH 193 1 311 4 930 8 820 OOU 383 458 619 1 260 2 957 Ba AA NANA NA 00 111 106 204 1 024 004000060 149 229 300 358 000 95 107 125 254 000 45 120 74 174 1 172 1 786 3 386 9 380 16 159 DUW 000000SR0 0 O OOO 00000 0000000000000 000000000 20130 121000000 01800 000000 20130 1200000000000 0 020278 00000000000 00 2013 12 819 80 24 E 23 189 E 24 55 52 2009 8 47 196 2013 12 28 99 aj j Shared escareh ia http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved a KLab 3656 Shared Research Report 2015 2 12 O 090 80 0 100 800 110800 120 800 130 120 0 o0 0 0 O O O O O O 0000 73 83 102 125 HHHHHHH 287 306 347 528 1 803 HHHHHHH 27 22 18 27 IlHHHH 63 158 IlHHHH 3 3 2 10 IlHHHH 306 78 195 221 200
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52. 2014 12 2014 12 13 5 2013 4 5 10 2014 2 Lord of the Dragon Age of Empires
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54. F2P Free to Play RPG Role Playing Game http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved KLab 3656 KLab 03 5771 1100 2000 8 1 HP http www klab com jp IR IR ah Shared esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved Shared Research Report 2015 2 12 106 6122 6 10 1 1 2011 9 27 12 IR http www klab com jp ir index html IR FE KLab 3656 Shared Research Report 2015 2 12
55. 2009 _ 2 DeNA 1 2432 GREE 1 3632 mixi X 2121 Sh ared jesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved a KLab 3656 Shared Research Report 2015 2 12 2009 2012 KLab 2009 mixi 2010 DeNA mobage GREE 2 2011 mobage 2011 mixi 2011 8 2012 8 3
56. bah j Sh ared Nesearch i http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved F pa KLab 3656 Shared Research Report 2015 2 12 1970 1980 1983 Wii
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69. S1 B2B B2C Mobage GREE mixi B2C 2009 12 Facebook Zynga mixi 2009 F 3 2009 12 1 Fr IFR 2013 2013 12 SI
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98. 3 5 665 15 210 20 993 21 375 6 7 24 9 91 8 168 5 38 0 18 00000 1 194 1 168 2 279 5 830 4 835 6 862 2 2 95 2 155 8 17 1 419 llHHHHH 50 5 39 5 40 2 38 3 23 0 32 1 0000 79 151 962 2811 1224 2 164 DDD a 915 538 7 192 3 3 3 5 1 170 185 0000 54 131 951 2 820 942 2 564 94 5 144 9 624 0 196 4 2 3 44 16 8 18 5 94 210 550 1 623 2 564 1 793 123 2 162 4 195 0 4 0 7 1 9 7 10 7 00000000 00000000 16 16 4681 26050 33059 37292 EPS 4 9 24 64 94 52 EPS DDUDUDUND a 59 DPS 0 0 0 0 0 0 BPS 23 32 56 119 124 250 00m0m000 741 425 721 1 862 4 518 7 250 HHHHHH 1 183 1 168 2 113 4 122 6 868 10 516 000000 21 95 44 263 300 216 000000000 138 235 263 955 908 1 214 000000 5 9 99 51 621 785 HHHH 1 347 1 507 2 519 5 391 8 698 12 731 000 149 136 138 427 724 1 255 0000000 266 266 101 30 2 750 0 000000 701 703 1 084 2 273 4 580 3 593 0000000 101 35 117 120 97 60 HHHHHH 102 50 130 142 110 62 HHHH 803 753 1 214 2 415 4 690 3 655 HHHHH 544 754 1 305 2 976 4 007 9 076 000000000000 367 301 218 150 2 847 60 0000000000000 00000 000000000000000 331 86 471 2260 1316 2 825 000000000000000 2 159 85 1087 2507 912 000000000000000 105 72 90 32 6 363 524 0000000RoA 7 0 14 7 27 3 41 0 E 16 7 0 0 00 0 0 0 DROE 18 9 32 3 53 4 75 8 E 27 6 000000 40 4 50 0 51 8 55 2 45 5 70 8 00000 00000SsRO DU HHHHHHHHHHHHHHHHHHHHHHHHHHH
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101. HH 00 O O RPG GREE OS entag HHH 00 00 00 dqo000 mobage GREE mxi entag UUDUO0000000 IIHIHIHHHHIHIHHIHIHI mobage GREE maxi entag HHHHHHSRHHH ah Shared esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved KLab 3656 Shared Research Report 2015 2 12 TIP TARU TA PIEL KT TALES OF KIZNA DSAS Hosting for Social 2009 11 DSAS Hosting for Social
102. HHHHHHHHHHHHHHH 20130 1270000000180 000000 20120 8 000000000 0000000 P Shared esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved KLab 3656 Shared Research Report 2015 2 12 2015 2 12 KLab 2014 12 2014 12 2014 12 10 2014 12 3 2014 12 3 3 amp ah Shared esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved KLab 3656 Shared Research Report 2015 2112 i HHHHHH 130 120 O 140 120 0 oo o 00 10 20 Ele 4Q 5Q Lo 2Q 3Q 4Q 000 3 546 3 573 3 772 4 598 5 504 4 426 5 160 6 355 5 434 HHH z z HH 990 660 841 1 136 1 207 1 164 1 548 2 279 1 872 HHH 5 000000 279 185 223 24 7 21 9 26 3 30 0 35 9 34 4 000 1 203 1 329 1 039 985 1 503 1 068 948 1 084 1 600 HHH s 5 n8000000 33 9 37 2 27 6 21 4 21 3 24 1 18 4 171 294 goog 212 669 198
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