Apr.

2015

ENG.
 Note
Figures in this material are on K-IFRS consolidated
basis as of December 31, 2014

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Hidden Champion - InBody
InBody Co., Ltd., world leader in body composition analysis business field boasting advanced
technology

InBody Co., Ltd. has gone beyond the limits of conventional BIA with InBody and its cutting-edge
technology. InBody is world wide recognized by experts in numerous fields. From professional-grade to
home-use devices, we offer a variety of services and products worldwide.

InBody Co., Ltd. has three overseas subsidiaries, namely in USA, Japan and China. Inbody is currently
the world’s leading provider of body composition analyzer (market share 51.1%) in the professional
market. It has a global network of partners in more than 60 countries in South America, Asia, Europe and
Africa.

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3
Overview

Unique Technology acknowledged worldwide

• More than 80 patents & certifications around the world

• Devices recognized for the excellence of high accuracy & high reproducibility

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Overview

First mover
• Developed and advanced the world’s first direct segmental body composition analysis measurement method
• Not a fast follower, but a first mover
• Outstanding and competitive technology vs. peers such as Tanita (Japan), RJL (USA), SECA (Germany)

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Overview

Extensive sales network

• 11 dealerships in the domestic market (exclusive dealers of InBody)
• Direct sales system in US, China, and Japan through local subsidiaries
• 60 dealerships worldwide (80% are exclusive dealers of InBody)
• Active participation in exhibitions and medical conferences for professional customer

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Overview

Sustained growth in overseas sales

• Overseas sales in 2013 : W23.7bn (65% of total)
• Overseas sales in 2014 : W30.4bn (62% of total)
• 25% CAGR sustained.
• 46% YoY growth achived in exports to US & China in 2014.

[ Overseas sales ]

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Overview

Increase in potential customers

• Continuing efforts to find potential customers
• Market expansion as obesity clinics, gyms, nutrition shops and other health/fitness outfits become potential clients

Major domestic and overseas clients

Hospital & Clinic

Fitness/Sports

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Overview
Major domestic and overseas clients
Nutrition & Wellness

Academy

Aesthetic/Beauty

Government

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Products

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Products

InBody’s advanced core technologies

Precise measurement regardless of gender and age
1. Direct segmental multi-frequency measurement method – BIA (Bioelectrical Impedance Analysis)
2. Multi-frequency measurement method(1KHz to 1MHz)

3. 8-point tactile electrode system with the use of thumb electrode measurement method

Voltage
measurement
starts Voltage
measurement
starts
Thumb
electrode Pawn
connect electrode
connect
Front sole Rear sole
electrode electrode
connect connect

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Products

InBody
• Largest market share in professional body composition analyzer market
• Dominant domestic market share (80%)
• Diverse product lineup from low/mid- to high-end products
• Used in hospitals, fitness centers, public health clinics, schools, etc.

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Products

InBody Dial for home use

Easy user interface
- Quick measurement (5 seconds)
IT integration
- Results can be transferred to the user’s smartphone via Bluetooth function
- Web based data management with remote consultation functionality

Market expansion
- Home healthcare device provided by InBody Dial and its mobile application

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Products

InBody Band & InLab Series

• Fitness Tracker
• InBody Band : Time, BCA results (Body fat %), Heart rate, Steps taken, Active-
time, Calories burned, Walked distance, Battery life
• InBody Series : Steps, Time, Calories, Distance
• Health management through a specialized application
‘InBody’ of health care

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Products

BPBIO Series (Sphygmomanometer)

• Upload type automatic blood pressure monitor
• Quick and accurate measurement
• Provided to public agencies and schools
• Easy and convenient user interface
• Available in soft touch measurement, accurate result, high reproducibility
• BPBIO330
• BPBIO320/320n
• BPBIO320S

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Products

BSM Series(Extensometer)
• Certified in Japan and Europe
• Inbody provided as well

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Products

InBody u-Town
• Preventative healthcare system for lifestyle diseases
• Total healthcare solution through basic health and physical check-up
• Successful component model with delivery of healthcare products to Samsung Raemian Housing, World Gym fitness chain
• Currently used at local fitness centers, public entities, sports complexes, etc.

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Products

Automated healthcare system- InBody Selfcare

• Automated healthcare system to maximize satisfaction for users and operators
• User-friendly interface
• Up-grade of a web-based data management system

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Products

InBody data management program - Lookin’Body

• Data management program for PC synchronized with InBody
• Easy to check changes in body
• Provides various result interpretations

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Performance
Sustainable growth on advanced technology and
efficient management
• Listed on KOSDAQ in 2000, corporate credit rating is ‘A’
• Selected as a KRX hidden champion from 2009 to 2012 Total Sales

• Sustained profits and overseas growth

Overseas
Sales

Operating
Income

[Sales and Operating Income]

(K-IFRS Consolidated)

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Performance

Domestic sales analysis

 Domestic sales in 2013: W13.1 bn (K-GAAP: W11.6 bn)
 Domestic sales in 2014: W18.5 Bn (K-GAAP: W16.7 bn)
 Domestic market share: 80% (ranked No. 1 since 2009)

소프트웨어 등
(47%)

Software (14%)
11%
Extensometer (8%)
Inbody (44%)
5%
Inbody dial Sphygmomanometer (20%) InBody
Inbody (6%)
9%
Domestic 44% U-town (11%)
Domestic
2013 2014 (7%)
U-town Inbody dial (9%)
11%
Extensometer (5%) (3%)

Sphygmomanometer Software (11%) Sphygmomanometer

20% (15%)

[Domestic market product mix in 2013 / K-GAAP]

[Domestic market product mix in 2014/ K-GAAP]

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Performance

Overseas sales analysis

<2013> <2014>
 Overseas sales: W23.7 bn  Overseas sales: W30.4 bn
 Sales composition: overseas (64%), domestic (36%)  Sales composition: overseas (62%), domestic (38%)

Software etc.
Extensometer 7%
2%
(84%) (86%)
혈압계 Sphymomanometer
Sphygmomanometer
(7%)
(5%)
(4%)

Overseas (2%) Overseas

2013 2014 (2%)
(2%)

(1%) (7%)
InBody InBody

[Overseas market product mix in 2013 / K-GAAP] [Overseas market product mix in 2014/ K-GAAP]

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Performance

Overseas sales analysis

<2013> <2014>
 Japan > South America·EU > China > US > Asia · MENA  China > US > South America · EU > Japan > Asia · MENA
 Compared to 2012, China : W3.88 bn → W4.99 bn (30% ↑)  Compared to 2013, China : W5.0bn → W7.3 bn (46% ↑)
US : W3.24 bn → W4.53 bn (40% ↑) US : W4.5 bn → W6.7 bn (49% ↑)

(24%)
Asia – MENA
China
(22%)

(17%)
South America - EU

(22%)
US

(15%)
Japan

[Overseas sales composition in 2013 - Regional] [Overseas sales composition in 2014/ - Regional]

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Performance

Sales by region

Domestic Sales Overseas Sales

2014 2013 2012 2011

Domestic 18,514 13,093 11,458 13,585

Overseas 30,426 23,693 21,772 17,975

Total 48,940 36,786 33,230 31,560

*K-IFRS Consolidated

2014 2013 2012 2011

Domestic 38% 36% 35% 43%

Overseas 62% 64% 65% 57%

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 Performance

Financial statements
K-IFRS Consolidated B/S K-IFRS Consolidated P/L

2014 2013 2012 2011 2014 2013 2012 2011

Current
40,469 31,713 33,725 31,738 Sales 48,940 36,786 33,230 31,560
Assets
COGS 14,435 10,647 9,393 9,627
Non-Current
22,702 21,960 14,437 12,111
Assets
Gross Profit 34,505 26,139 23,837 21,933

Assets 63,171 53,673 48,162 43,849

SG&A 24,410 19,638 18,835 18,079

Operating
Liabilities 3,560 2,114 2,028 1,704 10,095 6,501 5,002 3,854
Income
Other
Common 1,177 1,081 1,450 2,630
7,312 7,312 7,312 7,312 Income
Stock
Other
606 527 439 614
Expense
Retained
52,893 44,558 38,908 33,942
Earnings Income
10,666 7,055 6,013 5,870
before Tax
Shareholders’
59,610 51,558 46,134 42,145 Net Income 8,879 6,194 5,643 5,648
Equity

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Vision

Obesity acknowledged as a disease

• In June 2013, the American Medical Association recognized obesity as a disease
• Discussions underway on insurance coverage for obesity and tax exemption for obesity treatment cost
• Majority of Korean women have low muscle mass, which raises the risk of diabetes and high blood pressure

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Vision
Shifting focus from weight to body composition

• Heightened interest in body composition, leading to increased use of body composition analyzers
• Growing importance of body composition as opposed to weight
• Better understanding of body composition to highlight the importance of reducing body fat rather than weight

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Vision

Upside potential in home use market

• Home-use InBody = medical home appliance
• Growing home-use market with user-friendly interface
• Becoming a necessity in the aging society

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Conclusion

InBody, powered by dedication and expertise

Around the world, there are many companies that may not be big in size but are accumulating expertise in a
specific field to offer the best possible products. With a team of dedicated experts in their respective fields, Inbody
looks 100 years into the future as it strives to remain the world leader in body composition analyzer business.

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