Three-year Business Plan
2024 - 2026
July 31, 2023
Code :

https://www.jia-ltd.com/en/

Business Plann
 To actualize a highly profitable structure with a net income of 25 billion yen and a net
income margin of 36.0% in 2026
100,000

Sales(Million Yen)
33.4%

80,00027.4%

Net Profit(Million Yen)

Profit Retio
36.0%

21.6%

20.7%

24.4%

27.3%

19.2%

12.4%

69,40060,00038,50040,00018,04517,707
19,30016,647
14,105
5,025
4,555
4,412
3,831
2,921
2,400

20,000 15,036
profit growth rate+84

25,00022,400(9)(16)(24)+51(464,300)↗

10,500↗

VS 2023+941

FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026
Forecast------------- Plan ---------------

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2Key Indicators
 We will speed up the evolution of our business model, which was stagnant amid thecoronavirus pandemic, in order to realize our vision in 2026.
 We will expand the sales of businesses other than the Operating Lease Business, whileachieving high-level profit growth.
Key Indicators

FY2023(Forecast)

FY2024-FY2026

FY2026Composition of sales other thanoperating lease business

About 10↗

About 30

Profit growth rate46↗

Profit doubles everyyearROE

5↗

More than 25

Dividend payout ratio

32yen per Share40※↗Increase in dividends

More than 20※Despite stagnant earnings, the dividend amount was maintained, resulting in a temporary increase in the dividend payout ratio
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What we will conduct in accordance till 2026
 To utilize our resources for fund management, which have been accumulated in the aircraft business,for developing funds for various products
 Through the investors of the Japanese operating lease financial products (JOL and JOLCO), we will
attract diverse investors who want to conduct asset management (individuals, business corporations,and financial institutions).

Establishment of a businessbase centered around aircraft[Measures] To secure a share in
the JOL/JOLCO market[Effect] To increase clients withthe uniqueness of our products

Establishment of a base fordomestic investment
products, including realestate and PE funds

Establishment of a base for solving energy
issues, such as investment funds forrenewable energy business[Measures] To start handling new financial
instruments by expanding funds for asset liquidation[Effect] To increase clients, including business[Measures] To release new financial
instruments, including real estate and PE corporations and financial institutions
funds[Effect] To increase clients, including
enterprises that are considering businesssuccession and wealthy individuals→FY2022

FY2023 – FY2025

FY2026→

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4Change in the business portfolio
We will reclassify our business segments, while considering their mid-term importance.
 However, we are highly dependent on the Operating Lease Business, so we will disclose only
sales of each segment as segment information for the foreseeable future. We aim to start
disclosing the operating income of each segment by 2025.

Financial Solution Business

JIA Group Consolidated

Conventional segment

Segment after FY2024

Operating Lease Business

Operating Lease BusinessAircraft Part-Out &Conversion Business

Renewable Energy Business

Renewable Energy Business

Real Estate Business

Other BusinessPrivate Equity Investment BusinessMedia- related Business

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5Major initiatives in the Operating Lease Business - 1To expand the sale of Japanese operating lease investment products (JOL/JOLCO)
 To improve the balance of funds by increasing the ratio of funds for vessels and containers formaritime transportation, as we have been highly dependent on aircraft funds
 To diversify aircraft-related deals including used aircraft and cargo airplanes by utilizing ourstrengths
 To develop more operating lease investment products (JOL/JOLCO) for deals of converting
passenger airplanes into cargo airplanes
 To strengthen the function to pool aircraft with lease and containers for maritime transportation
with lease, and improve flexibility and speed in opportunities to structure financial instruments

250

FY2026Equity Sales Plan

Change in Amount of Equity Sales (Billion Yen)

200
92

100
500150 Billion Yen 150

Equity Sales

150

104

54
11
FY20142124

FY2015FY2016FY2017FY2018FY201979

FY202080
4950

FY2021

FY2022

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FY2023
Forecast→FY20266Major initiatives in the Operating Lease Business - 2To trade more aircraft with lease As our corporate group excels at handling operating lease investment products for used aircraft,
we have accumulated the knowledge of trading after a lease period through plentiful JOL*
transactions. By utilizing these resources, we will enhance trading of aircraft with lease insideand outside Japan.
*JOL: A type of Japanese operating lease in which airline companies do not have the “right to buyaircraft” while in JOLCO, airline companies have the “right to buy aircraft”

To arrange more lease products
 To arrange operating lease utilizing new products by matching the demand for lease of business
jets, helicopters, etc. from medical institutions, etc. and the demand for investment frominvestors and financial institutions considering stable revenues from lease Our company will support the operation of business jets.

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Major initiatives in the Renewable Energy BusinessTo commercialize funds for investment in new power sources, such as woody biomass
power generation
 To facilitate innovation for popularizing new power sources based on the collaboration between
industry and academia
 To actualize stable supply of domestic woody biomass energy by utilizing idle resources incooperation with municipalities, etc. and pursue the profitability of the renewable energy business To make investment products more attractive for earning stable revenues through the above
activities

Major initiatives in the real estate businessTo diversify the portfolios of existing clients, and strengthen our products for attracting
new clients
 From the viewpoint of portfolio diversification, we will propose real estate fractional ownershipproducts to clients of the Operating Lease Business.
 Our client base has been composed of mainly corporate clients, but we will expand our channels toattract individual investors.
 As our company is a follower company, we will increase clients by differentiating assets. (Forexample, we would develop financial instruments from the hotel built by Investee Company which
has a track record of operating luxury hotels.)
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8Major initiatives in the PE Investment BusinessTo strengthen the Private Equity Investment Business assuming IPO and buyouts
 To expand the network of information on projects for investment in late-stage startups, which willprobably make an IPO, and actively carry out investment activities. While expanding the scale offunds by structuring subscription funds, we aim to achieve stable returns by increasing theprobability of startup exits.
 We will mainly strengthen the measure for improving the value of our investment in venture firms.
We will rigorously select investees and improve the effect of value improvement measures, with theaim of achieving high returns.

Major initiatives in other businesses
To strengthen the Consultation and Advisory Business focused on the managerial issues ofSMEs

Personnel introduction business (introducing candidate executives)
M&A advisory business
Listing support business (general markets and TOKYO PRO Market)
Financial advisory business (securities business, insurance agency business, etc.)
Trust business
Consulting business for all kinds of issues on business succession
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9DisclaimerThe information contained in this document is for informational purposes only and is not intended as asolicitation for securities.
This presentation material contains information that constitutes forward-looking statements. Such forwardlooking statements are not guarantees of future performance and involve risks and uncertainties, and actual
results may differ from those in the forward-looking statements as a result of various factors including changes
in managerial circumstances.
For further information...
Investor Relations Group.
Japan Investment Adviser Co., Ltd.
https://www.jia-ltd.com/en/contact/
Tel : +81-3-6550-9307
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