April 26, 2018
(TSE 1st Section: 8698)

Financial Results for
Fiscal Year Ending March 31, 2018
This is an English translation of Japanese presentation materials prepared in connection with the disclosure of the financial results of Monex Group, Inc. It includes
information derived from the consolidated financial statements of Monex Group, Inc. which are prepared in accordance with International Financial Reporting Standards(“IFRSs”). This material is not intended to recommend or conduct solicitation for any product or service, etc.
<Forward-looking Statements>
This presentation material contains forward-looking statements that are based on our current expectations, assumptions, estimates and projections about our industry
and us. These forward-looking statements are subject to various risks and uncertainties. Generally, these forward-looking statements can be identified by the use ofterms such as "may" "will" "expect" "anticipate" "estimate" "plan" and other similar words. These statements discuss future expectations, identify strategies, containprojections of results of operations or of our financial condition and state other "forward-looking" information. Our operations are subject to risks, uncertainties andother factors that could cause our actual results to differ materially from those contained in any forward-looking statement.

Our Business Principles
Always a step ahead of the “Y” in "MONEY,"
our name MONEX symbolizes our position as a forerunner in finance.
In the face of an ever-changing future, the Monex Group utilizes state-of-the-art IT
technologies and world-class financial expertise to design innovative ways ofmanaging money and to redefine finance for a new era. We will strive to support
everyone’s investment and economic needs.

To achieve this we are committed to:- Celebrating the diversity of each and every one of our customers and employees;- Driving the future of technology and first class financial professionalism thatempowers traders and investors; and- Creating new value to contribute to all stakeholders

1

Table of Contents

Our Business Principles

p. 1

Table of Contents

p. 2

I. Highlights

p.3 - p.13

II. Consolidated Performance

p.14 - p.28

III. Business Update

p.29 - p.35

IV. Mid- & Long-Term Initiatives

p.36 - p.39

Appendix: Group Overview

p.40 - p.49

2

I.

Highlights

II.

Consolidated Performance

III.

Business Update

IV.

Mid- & Long-Term Initiatives

Appendix. Group Overview

3

Business Overview 1/3

Monex Group
Japan

US

Asia-

Crypto-Asset

Pacific

Business

EBITDA*EBITDA*EBITDA*

Coincheck, Inc.

¥14.4B in FYE 2018(+114％ vs FYE 2017)¥2.9B in FYE 2018,¥4.8B if 4Q is annualized¥100M in FYE 2018

New member ofMonex Groupsince April 2018

Monex, Inc.
Net operating income:¥5.4B in FYE 2018

TradeStation Group, Inc.
Record high active
accounts (4Q).
Assets in custody: $5.2B

Online securities:
Monex Boom
Securities (H.K.) Ltd.
in Hong Kong

Monex Ventures, Inc.
Net operating income:¥2.7B in FYE 2018at the end of FYE Mar. 2018
Profitability has stabilized and ifinterest rates continue to go up,
net interest income will increase,further raising profits

Monex Securities
Australia Pty Ltd
in Australia*Refer to P6 foractual in FYE 2018
Focus on enhancing
governance andinternal control withthe aim to register
as a cryptocurrency
exchange* EBITDA＝The amount equivalent to operating income + amortization and depreciation

In addition to our “Sum of the Parts” corporate value, we aim to further increase corporate
value through cross-segment collaboration
4

Business Overview 2/3

US segment established a revenue base independent of market volatility andrecorded EBITDA of ¥ 2.9 B. Coincheck, Inc. will help us build a business portfoliowith global potential growth for our "New Beginning”

Japan・Introducing in Nov 2017 a new equity margin trading commissions fee structure, Monex,
Inc. market share in margin trading increased from 3.7%(*1) to 4.2%(*2)
・Segment profit(*3) of ¥8.6B (+385% vs FYE 2017) because of a decrease in fixed
costs(*4) (-¥2.1B vs FYE 2017) with the April 2017 termination of parallel operation of oldand new backbone systems

US・Consecutive record number of account openings since 3Q due to new branding efforts
and a revised commissions fee structure. Registered segment profit(*3, 5) of ¥300M(¥-500M in FYE 2017) with a stable revenue base coupled with growing customer assets incustody ($5.2B) and an increase of net financial income (+¥1B vs FYE 2017) attributable toa hike in interest rates

・Launched an online brokerage firm in Australia in January 2018
Asia-Pacific ・Segment profit(*3) was ¥-200M (¥-100M in FYE 2017), although joint venture in mainland
China registered a profitable year
*1 Equity, ETF and REIT market share before the revision of commissions fee structure（Apr. –Nov. 2017)*2 Equity, ETF and REIT market share after the revision of commissions fee structure（Jan. –Mar. 2018)*3 Segment profit (loss) = Pre-tax profit (loss). The same hereinafter.
*4 Fixed costs = Compensation and benefits fee + Rental and maintenance fee + Data processing and office supplies fee +Amortization and depreciation fee + Others.
*5 Refer to P11 for details of other expenses of ¥600M

5

Business Overview 3/3

Coincheck, Inc. joined Monex Group as a wholly owned subsidiaryon April 16, 2018
Financial performance of Coincheck, Inc. in FYE 2018 (Forecast) (Billion yen)
FYE 2018(12 months)

CryptoAssetBusiness

Sales (Netting) *62.6

Selling, general and administrative expenses

8.8

Operating income

53.7

Profit before income taxes

6.3

Extraordinary loss ¥47.3 billion【Reference】 Financial performance during the two months when service was suspended
and then partially resumed (Forecast) (Billion yen)Feb. – Mar. 2018
(2 months)
Sales (Netting) *2.0

Selling, general and administrative expenses

1.5

Operating income

0.5→ Operating income was positive even during the period when service was suspended and then partially resumed* Netting revenue from sales and cost of cryptocurrency sold6

Revision of Shareholder Distribution Policy

Return total return ratio to 75% on a multi-year basis in FYE March
2019■Reason for the change
・ Since Coincheck, Inc. joined Monex Group in April 2018, we expect to make further investment for future
growth of our group. For this and other reasons, the assumptions behind calculating shareholders’ return havechanged since the previous revision in January 2018 and the Company decided to return the total return ratio to75% on a multi-year basis
・ Total shareholders return ratio of 75% is a combination of dividends and share buybacks. The lower limit ofdividends is 2% DOE (dividend on equity) annually■Points of the revision
Original（until FYE March. 2018）

Revised（From FYE Mar. 2019）

The Company aims to provide returns to its
shareholders based on the business performance, while
securing investment capacity for growth, and targets at
a 100% total return ratio* on a single-year basis fromthe fiscal year ending March 31, 2018 to the fiscal year
ending March 31, 2021.

The Company aims to provide returns to its
shareholders based on the business performance, while
securing investment capacity for growth, and targets at
a 75% total return ratio* on a multi-year basis.

7

Highlights FYE Mar. 2018 (12 months) 1/3

Significant revenue and profit increase in Japan, full-year profit andrevenue increase in the US

Japan

Total operating revenue after deducting financial expenses rose to ¥31.8B(+19%) due to an increase in brokerage commissions driven by highvolatility, an improvement in the management of stock lending transactions
and a gain on sales of venture investments. SG&A dropped ¥23.4B (-6%)
with a reduction of fixed costs. Segment profit was ¥8.6B (+385%)

US

Total operating revenue after deducting financial expenses was ¥17.4B(+12%) due to an increase in net financial income with a hike in interest
rates and growing assets in custody. Segment profit was ¥300M (¥-500M
in FYE 2017)

Asia-Pacific

Online brokerage business in Hong Kong is steadily growing. The
amount equivalent to operating income was ¥9M (¥-24M in FYE 2017)
despite the preceding costs to launch an online brokerage firm inAustralia. The joint venture in mainland China achieved a yearly profit.
Segment profit was ¥-200M (¥-100M in FYE 2017)8

Highlights FYE Mar. 2018 (12 months) 2/3◆Total operating revenue after deducting financial expenses and quarterly profit attributable to ownersof the Company
Consolidated(JPY million)
60,000Total operating revenue after deducting financial expenses
Profit attributable to owners of the Company
50,05149,64245,209Pre-tax Profit 8,631
49,15541,85240,00020,00010,354

6,730

3,554

3,494

298

0
2014/3

2015/3

2016/32017/3

2018/3◆Total operating revenue after deducting financial expenses and cost of sales and Segment profit
Japan(JPY million)
60,00040,00020,000Total operating revenue after deducting financial expenses and cost of sales
Segment profit
36,46031,82230,41031,79926,692

19,497
10,498

5,887

8,581
1,768

0
2014/3

2015/3

2016/32017/3

2018/39

Highlights FYE Mar. 2018 (12 months) 3/3◆Total operating revenue after deducting financial expenses and cost of sales and Segment profit

US

Total operating revenue after deducting financial expenses and cost of sales(JPY million)
20,00015,00018,541

Segment profit
13,243

17,417

15,616

14,637

10,0005,000-2,3880
2014/3

2015/3-457-525-4,3402016/32017/3281
2018/3-5,000-10,000

Asia-Pacific(JPY million)
1,000
700

931

830

707

607

582

400
100
-200

-138
2014/3-156
2015/3-30
2016/3-97
2017/3-225
2018/3-500

10Highlights 4Q FYE Mar. 2018 (3 months) 1/3

Profitability in all segments.
US segment sees increased brokerage commissions driven by a hikein volatility
Japan

US

Asia-PacificTotal operating revenue after deducting financial expenses increased to¥9.3B (+12%), driven by a gain on sales of venture investments and anincrease of net financial income due to higher margin trading volume.
Recorded a segment profit of ¥3.1B (+29%)

Volatility returned to drive an increase in total operating revenue after
deducting financial expenses to ¥4.8B (+13%). SG&A decreased to ¥4.1B(-3%). Recorded a segment profit of ¥74M (+159%) despite recognizing
other expenses of ¥600M due to bad debt loss related to customers who
suffered losses in options trading
Despite the preceding cost to launch Monex Securities Australia Pty Ltd,AP segment recorded a segment profit of ¥46M (+133%)
11

Highlights 4Q FYE Mar. 2018 (3 months) 2/3◆Total operating revenue after deducting financial expenses and quarterly profit attributable to ownersof the Company
Total operating revenue after deducting financial expenses

Consolidated(JPY million)

Pre-tax Profit 3,194

Quarterly profit attributable to owners of the Company, profit after taxes

20,00015,000

11,393

9,466

10,635

10,00010,41911,333

10,836

11,620

5,000
355

261

-364

503

2016/3
4Q

2017/3
1Q

2017/32Q

2017/33Q

0-5,000-103
2017/3
4Q

1,573

441
2018/3
1Q

2018/3
2Q

12,5902,646
2018/3
3Q

14,1092,069
2018/3
4Q◆Total operating revenue after deducting financial expenses and cost of sales and Segment profit
Japan(JPY million)
15,00010,000Total operating revenue after deducting financial expenses and cost of sales
Segment profit, Pre-tax profit
7,103

6,790

5,953

7,292

6,658

6,635

7,467

5,000
1,165

981

0
-5,0002016/3
4Q

2017/31Q-182
2017/3
2Q

714

255

2017/33Q

2017/3
4Q

1,094
2018/3
1Q

2,027
2018/3
2Q

9,330

8,368
2,382
2018/33Q

3,077

2018/3
4Q

12

Highlights 4Q FYE Mar. 2018 (3 months) 3/3◆Total operating revenue after deducting financial expenses and cost of sales and Segment profit(JPY million)

Total operating revenue after deducting financial expenses and cost of sales
Segment profit, Pre-tax profit

US
6,000

4,569

3,976

3,677

4,223

4,114

3,849

4,791

4,236

4,167

3,000
-183

-413

-570

70

69

1

178

29

74

2017/33Q

2017/3
4Q

2018/3
1Q

2018/3
2Q

2018/3
3Q

2018/3
4Q

240

226

222

243

0
2016/3
4Q

2017/3
1Q

2017/32Q-3,000Asia-Pacific(JPY million)
300
175

171

167

199

170

150
-15

-10

-16

-33

-39

2017/3
1Q

2017/32Q

2017/33Q

2017/34Q

0-150

2016/3
4Q-300
2018/31Q

920

2018/3
2Q

2018/33Q

46
2018/3
4Q

-300

13

I.

Highlights

II.

Consolidated Performance

III.

Business Update

IV.

Mid- & Long-Term Initiatives

Appendix. Group Overview

14

YoY Comparison (12 months) Consolidated Performance(JPY million)FYE Mar. 2017
(Apr. 2016 –Mar. 2017)

FYE Mar. 2018
(Apr. 2017 –Mar. 2018)

Variance

Rate ofchangeReference

Total operating revenue after
deducting financial
expenses

41,852

49,155

7,303

P17: Analysis of Japan segment
17.4% P19: Analysis of US segment (USD)

SG&A

40,57839,853-725

P18: Analysis of Japan segment-1.8% P20: Analysis of US segment (USD)

The amount equivalent tooperating income

1,274

9,302

8,028

Other income / expenses (net)

-203

-671

-467

Profit before income taxes

1,071

8,631

7,561

706.1%

298

6,730

6,433

2162.1%

Profit attributable to owners of
the Company

630.1%Breakdown in DATA BOOK P20:
- Quarterly consolidated financial results(Other income and other expenses)

15

YoY Comparison (12 months) Segment Performance(JPY million)
Japan

US

Asia Pacific2017/3

2018/3Rate ofchange2017/3

2018/3Rate ofchange2017/3

2018/3Rate ofchangeTotal operating revenue after
deducting financial expenses
and cost of sales

26,692

31,79919.1%

15,616

17,417

11.5%

707

931

31.6%

SG&A

25,05023,435-6.4%

15,85816,487

4.0%

731

922

26.1%

The amount equivalent tooperating income

1,642

8,365

409.4%

-242

931

-

-24

9

-

126

216

71.7%

-215

-649

-

-74

-234

-

Profit before income taxes

1,768

8,581

385.4%

-457

281

-

-97

-225

-

Profit attributable to owners of theCompany

1,003

5,709

469.2%

-497

1,274

-

-96

-246

-

Other income / expenses (net)Note

See P19 “total operating
See P17 “total operating
revenue after deducting financial revenue after deducting financial
expenses and cost of sales” for expenses and cost of sales”
HKD/JPY decreased by 1%
more details
for more details
See P18 “SG&A” for more
See P20 “SG&A” for moredetails
details
USD/JPY decreased by 2%
16

YoY Comparison (12 months) Analysis: Operating Revenue

Japan： Revenue increased due to larger net financial income, increase in brokeragecommissions and the license fee of our backbone system■Total operating revenue after deducting financial expenses and cost of sales(compared to Apr. 2016 - Mar. 2017)(JPY million)

35,00030,00025,00020,00015,00031,79926,692
2,783

3,505
3,978

4,643
10,235

Total operating revenue after deducting
financial expenses and cost of sales
19.1% (+5,107)*figures in parenthesis is the variancefrom FYE Mar. 2017 (JPY million)■Others (+722) *1■FX & fixed income (-665)■Net financial income (+3,515) *2■Brokerage commissions (+1,535)

6,719

10,0005,000
012,547

14,082

2017/3

2018/3*1 GALAXY license offering+610*2 Stock lending net income+1,194
Lending volume and profitability increased becauseof improved control over managing transactions
Gain on sale of investment in ventures+2,26717

YoY Comparison (12 months) Analysis: SG&A

Japan : Fixed cost(*1) per year decreased by ¥ 2.1B due to a migration to new
backbone system■SG&A (compared to Apr. 2016 – Mar. 2017)(JPY million)

SG&A Total -6.4% (-1,616)

30,00025,05025,00020,00015,000

1,740
1,506
1,780
1,924
4,206

*figures in parenthesis is the variance from FYE Mar. 2017 (JPY million)

23,435
1,473
1,784
1,668
2,203

0

13,8952017/3

expenses (-113)
Commissions paid, exchange and association
dues (+279)
Compensation and benefits (-177) *2

4,029

■

12,277■■System related expenses (-1,618) *3

2018/3*1 Compensation and benefits + System related expenses +Others
*2 Average # of employees: 353 for Mar. 2016 - Mar. 2017
(Quarterly average)
319 for Mar. 2017 - Mar. 2018

10,0005,000■Others (-266)■Advertising expenses (+279)■Communication, freight and information*3

Rental and maintenance:+437
Data processing and office supplies: -3,011
Amortization and depreciation:
+956

18

YoY Comparison (12 months) Analysis: Operating Revenue (USD)

US：Increase in net financial income due to higher yields from rate increases on
growing client cash balances. Brokerage commissions from options and futures
trading increased■ Total operating revenue after deducting financial expenses and cost of sales(compared to Apr. 2016 - Mar. 2017)

Total operating revenue after deducting financial
expenses and cost of sales 9.5% (+13,600)(USD thousand)
180,000
160,000
140,000
120,000

143,660
12,701

157,260
10,37134,011

32,079100,000

39,82180,00067,808■Others (-2,329)■Brokerage Fees (+1,933) *1■Net financial income (+8,748)■Brokerage commissions (+5,249)

31,07360,00040,000*figures in parenthesis is the variance from FYE Mar. 2017
(USD thousand)

73,056*1 Payment for Order Flow (the compensation andbenefit that a brokerage receives by connecting orders
to different parties to be executed) increased +3,155

20,0000
2017/3

2018/319

YoY Comparison (12 months) Analysis: SG&A (USD)

US：Higher advertising expenses led to record account growth. Commissions paid
increased coupled with an increase of trading volume■SG&A (compared to Apr. 2016 – Mar. 2017)
SG&A Total 2.0% (+2,973)(USD thousand)
160,000
140,000
120,000

145,885

148,858

19,675

18,673

9,102

11,115

17,83818,093

16,56416,00828,31826,566

100,000
80,00060,000*figures in parenthesis is the variance from FYE Mar. 2017
(USD thousand)■Others (-1,002)■Advertising expenses （+2,013）■Amortization and depreciation (+255)■Communication, freight and information
expenses (-557)■Commissions paid and association dues(-1,753) *1

40,00020,00054,38758,404■Compensation and benefits (+4,017) *2*1 Reclassification USD -2,895K*2 Reclassification USD +2,895K

0
2017/3

2018/320

QoQ Ccomparison (3 months) Consolidated Performance（JPY million）

3Q FYE Mar.
2018 (Oct.Dec. 2017)

4Q FYE Mar.
2018 (Jan.Mar. 2018)

Total operating revenue
after deducting financial
expenses

12,59014,109

1,519

12.1%

P23: Analysis of Japan segment
P25: Analysis of US segment (USD)

SG&A

10,083

10,414331

3.3%

P24: Analysis of Japan segment
P26: Analysis of US segment (USD)

The amount equivalent
to operating income

2,507

3,695

1,188

47.4%

Variance

Rate ofchangeReference

Breakdown in DATA BOOK P20:
- Quarterly consolidated financial results(Other income and other expenses)

Other income / expenses
(net)

-79

-501

-422

Quarterly profit before
income taxes

2,428

3,194

766

31.5%

Quarterly profit attributableto owners of the Company

2,646

2,069

-577

-21.8%

21

QoQ Comparison (3 months) Segment Performance(JPY million)
Japan

US

Asia Pacific2018/3
3Q

2018/3
4Q

Rate ofchange2018/3
3Q

2018/3
4Q

Total operating revenue after
deducting financial expenses andcost of sales

8,368

9,330

11.5%

4,236

4,791

SG&A

5,897

6,369

8.0%

4,202

4,078

The amount equivalent to operating
income

2,471

2,961

19.9%

-88

116

Quarterly profit before income taxes

2,382

Quarterly profit attributable to ownersof the Company

1,654

Other income / expenses (net)Note

2018/3
3Q

2018/3
4Q

13.1%

222

243

9.5%

-3.0%

217

220

1.3%

34

713 2010.9%

523

389.9%

-

-5

-639

-

15

23

53.6％

3,077

29.2%

29

74

158.5%

20

46

132.9%

1,953

18.1%

982

80

-91.8%

1440

192.3%

See P23 “total operating
revenue after deducting
financial expenses and cost of
sales” for more details
See P24 “SG&A” for moredetails

Rate ofchangeRate ofchangeSee P25 “total operating revenue
after deducting financial
expenses and cost of sales” formore details
See P26 “SG&A” for moredetails22

QoQ Comparison (3 months) Analysis: Operating Revenue

Japan : Revenue increased due to gain on sales of investment in ventures■Quarterly total operating revenue after deducting financial expenses and cost of sales(JPY million)
10,000
9,000
8,000

7,292

7,000

715

6,000

1,085

7,467
6,635
640

8,368
1,315

Quarterly total operating revenue after
deducting financial expenses and costof sales 11.5% (+962)

791*figures in parenthesis is the variance from previous quarter(JPY million)

994

758
965

1,114
3,979

905
5,000
4,000

9,330

1,974
2,454

2,459

1,827

3,034

3,263

3,289

2017/3 4Q

2018/3 1Q

2018/3 2Q■FX & fixed income (-120)■Net financial income (+2,005) *2■Brokerage commissions (-400)

3,000
2,000

■Others (-523) *1

3,965

3,565

2018/3 3Q

2018/3 4Q

1,000*1 3Q GALAXY license offering-610*2 Gain on sale of investment in ventures+2,112023

QoQ Comparison (3 months) Analysis: SG&A

Japan : Despite the one-time expense(*1) related to office rent, fixed cost(*2)
overall remains flat vs 3Q FYE 2018
■Quarterly SG&A
Quarterly SG&A 8.0％ (+472)(JPY million)
7,000
6,000
5,000
4,000

6,607
470
375
440
523
1,055

5,609
351
292
414
497
961

5,560
341
422
391
518
995

5,897
351
518
413
583
1,050

6,369
431
552
450
606
1,023

3,000
2,000

■ Others (+80)■ Advertising expenses (+34)■ Communication, freight andinformation expenses (+38)■Commissions paid, exchange andassociation dues (+23)
Compensation and benefits (-28)

3,744
3,093

2,893

2,983

3,307

1,000
0
2017/3 4Q*figures in parenthesis is the variance from previous quarter(JPY million)

2018/3 1Q

2018/3 2Q

2018/3 3Q

2018/3 4Q■■System related expenses (+325) (*1)
*1 Rental and maintenance fee +299
(One-time expense of office rent)*2 Compensation and benefits +system related expenses + others24

QoQ Comparison (3 months) Analysis: Operating Revenue (USD)

US: Revenue increased. Volatility returned driving a significant increase in
brokerage commissions, while net financial income remained high■Quarterly total operating revenue after deducting financial expenses and cost of sales(USD thousand)
50,00045,00040,0002,933

Quarterly total operating revenue after
deducting financial expenses and costof sales 17.9％（+6,732）

8,398*figures in parenthesis is the variance from previous quarter(USD thousands)

44,287
36,77835,0002,718

30,0009,054

37,87037,54737,556

2,326

2,524

2,589

9,014

8,539

8,060
10,13025,00020,000

8,432

9,463

16,573

17,067

16,57916,5842017/3 4Q

2018/3 1Q

2018/3 2Q

2018/3 3Q

9,904

10,32315,00010,00022,826■Others (+344)■Other commission (+338)■Net financial income (-193)■Brokerage commissions (+6,242)

5,000
0
2018/3 4Q

25

QoQ Comparison (3 months) Analysis: SG&A (USD)

US : Commissions paid increased in conjunction with higher brokeragecommissions revenues generated from the higher market volatility■Quarterly SG&A
(USD thousand)
45,00040,00035,00030,00035,966
3,834
2,437

Quarterly SG&A 1.5% (+571)
37,85935,906

4,678
2,589

4,588

4,486

5,136

5,220
2,602

37,261

37,832

5,190

3,585
3,025

2,899

4,468

4,539

4,600

6,235

3,141

3,197

6,520

6,501

6,270

6,163

13,451

13,37014,134

15,212

15,6882017/3 4Q

2018/3 1Q

2018/3 2Q

2018/3 3Q

2018/3 4Q

25,00020,00015,000*figures in parenthesis is the variance from previous quarter
(USD)

3,435
7,632

■

10,0005,000■ Others (-1,605)■ Advertising expenses (+125)■ Amortization and depreciation (-132)■ Communication, freight andinformation expenses (+238)
Commissions paid and association dues(+1,469)■ Compensation and benefits (+477)

026

Summary of Statement of Financial Position

The difference between “Net capital” and “Non-current assets” is the source of funds forinvestments and shareholders distribution◆ Summary of consolidated statement of financial position as of March 31, 2018
AssetsJPY 973.5B

Liabilities
JPY 893.0B

Major assets:
Assets related to financial
instruments tradingbusiness
JPY 775.0B

Major liabilities:
Liabilities related tofinancial instruments
trading business
JPY 883.1B(*1) Non-current assets
Property and equipment
Intangible assets (Goodwill)
Intangible assets (Identifiable intangible assets)
Intangible assets (Software and others)
Equity method investments
Available-for-sale investments in securities (Lv.3)

JPY
JPY
JPY
JPY
JPY
JPY

2.1B
16.6B (*2)
11.1B (*3)
22.2B
0.3B
2.2B

(*2) Goodwill: JPY 16.6B
Japan JPY 7.6B, US JPY 8.6B, China JPY 0.4B(*3) Identifiable intangible assets: JPY 11.1B
US JPY 10.5B, China JPY 0.6B

OthersJPY 60.2B

Cash and cash equivalents

OthersJPY 9.9B◆The JPY 26.0B difference between Net capital (JPY 80.5B)
and Non-current assets (JPY 54.5B) is the source of funds
for the following:

JPY 83.9B

Non-current assets (*1)

JPY 54.5B

Net capital
JPY 80.5B

1. To comply with capital adequacy ratio regulations forsecurities subsidiaries in Japan and overseas
2. Internal reserve for investments in future businesses
3. Shareholders distribution (dividends + share buyback)27

Shareholders’ Distribution

Return total return ratio (*1) to 75% on a multi-year basis since FYE Mar, 2019
◆Total return amount(*2) and total return ratio◆Return on Equity ratio（million yen）
12,000900%

Amount of acquisition of own shares(left)
Amount of dividends (left)
103%
Total return ratio(right)

15%

12.9%

800%

10,000
700%

5,514

8,000

600%

10%

100%

260%

4,000

4,030

109%

48%
2,000

1,825

77%
1,537

3,098

31%

5,178

1,229

68%

827%

2,359

1,000

FYE
Mar.2010

599
FYE
Mar.2012

5%

200%

1,459

2,721
0%

FYE
Mar.2014

5.0%

100%

2,728
0

400%
300%

1,162

FYE
Mar.2016

FYE
Mar.2018

8.3%

7.1%

500%
6,000

2.9%

4.2%

4.1%

2.0%
0.4%

0%

FYE
FYE
FYE
FYE
FYE
FYE
FYE
FYE
FYE
Mar.2010 Mar.2011 Mar.2012 Mar.2013 Mar.2014 Mar.2015 Mar.2016 Mar.2017 Mar.2018(*1) Total return ratio = (dividend paid*3 + amount of share buyback*4) /profit attributable to owners of the Company(*2) Total return amount = dividend paid + amount of share buyback(*3) Refer to P49 “Dividend history” for more information of dividend per share(*4) Amount of share buyback : JPY 3.1B in Jun. 2011, 5.5B in May 2013, 1.2B in Jul.-Aug.2015, 1.0B in May-Jun. 2016, 1.0B in May 2017, 3.0B in Feb.-Mar. 2018

28

I.

Highlights

II.

Consolidated Performance

III.

Business Update

IV.

Mid- & Long-Term Initiatives

Appendix. Group Overview

29

Business Update Japan segment (1) Customer base expansion 1/2

Expanded customer base with new product development, our area of strength
For active traders

Japanese equities trading platform tool, TradeStation-

High performance tool designed for active traders. Flat-rate plans at the lowest price level in the industry
Over 10,000 account openings. Number of funded accounts and active accounts increased by about 370%
and 570%, respectively
The trading volume share of TradeStation via Monex, Inc. steadily growing and reached about 4.6%-

For US equity traders

US equities offering-

Record high number of transactions and number of active accounts in 4Q. Number of transactions
increased by about 41% (vs 3Q). Number of active accounts increased by about 39%(vs 3Q)
Launched Japanese yen settlement service in March, 2018 to enable customers to trade from yen andimprove customer usability

For investors

Award-winning fund, Monex Japan Growth Equity Fund (aka, The Fund @Monex)-

Received the R&I Fund Award 2018 in three different categories:【Best Fund Award】

Japan Equity Investment Trust Category, Japan Equity NISA Category【Excellent Fund Award】 Japan Equity 10-year Investment Trust Category30

Business Update Japan segment (2) Customer base expansion 2/2

Monex for Wealth Creation Services with various product lineup
Wealth Creation Service- Investment balance is about ¥36B(*) including a wrap service (MSV LIFE) for individuals and investment
entrusted by institutional investors- A license agreement with Shizuoka Bank to start over-the-counter service of MSV LIFE
* As of April 13, 2018

- Investment balance is about JPY 780 M (as of March 31, 2018)- Robot adviser service where customers can determine their own investment policy and easily
manage their assets with a support of professional advice- Launched in Sep 2017. The number of account is about 5,800 (as of March 31, 2018)- Take advantage of the position as a follower. Taking our pride in the commissions fee, product lineup, and agenerous support with the industry’s highest quality

Funded NISA
- Launched in Jan 2018. Account openings are more than 6,000 (as of March 31, 2018)- Professionally chosen investment trusts are available for long-term periodic investments from a small amount31

Business Update Japan segment (3) Customer base of Monex, Inc.

Aiming to double equities commissions through acquisition of active traders as wellas investors, Monex's main customer baseHigher ratio than the average of the main online
securities firms = Good quality customer baseLarger than the average of the main online securities
firms = Good quality customer base

◆Active account ratio (as of December 31, 2017)◆Customer assets per account (as of December 31, 2017)(active account ratio)(JPY million)

80%

3.0

Monex 61%

60%

Average of main online securities* firms

40%

54%

0

1,000,000

2,000,000

2.4

Monex

Average for main online
securities firms*

2.0
1.0

20%
0%

2.6

3,000,000

0.0(total accounts)

Margin trading shows room for growth
100%◆Margin trading ratio (3Q FYE Mar. 2018)
70%

50%

46%

Stable commissions share despite challenging market
30%◆Stock brokerage commission share(1Q FYE Mar. 2010 - 3Q FYE Mar. 2018)

20%
10%

0%

Monex

Average for main online

0%

securities firms*(* ) SBI SECURITIES CO., Ltd., kabu.com Securities CO., Ltd., Matsui Securities Co.Ltd., Rakuten Securities, Inc.

Monex
2010/3

2011/3

2012/3

2013/3

2014/3

2015/3

2016/32017/3(Source) Kinzai Institute for Financial Affairs, Inc.

32

Business Update US segment (1)Record high in new account openings. Revenue increase further driven by a rise involatility and interest rate
■ Expanded services and customer base-

Record number of active accounts driving increased client assets totaling $ 5.2 B in 4Q. Also,
attrition rate dropped to record low in 4Q-

Chosen as one of the “Best for Frequent Traders” by Barron's Magazine’s Annual Ranking-

Brand refresh and various campaigns attract casual traders to expand customer base-Offers real-time spot data for cryptocurrencies in addition to bitcoin futures offering

Active accounts steadily increase as a capitalof net interest income(8-year annual growth rate: 8%)

Increase in customers’ asset in custody◆Customers’ assets in custody
6,000

80,0005,000

60,0004,000

Customer Assets(Securities)
Customer Assets(Cash)

3,000
40,0002,000
20,0001,000
0

0
201 0/3

201 1/3

201 2/3

201 3/3

201 4/3

201 5/3

201 6/3

201 7/3

201 8/3

2010/3

2011/3

2012/3

2013/3

2014/3

2015/3

2016/32017/3

2018/333

Business Update US segment (2)■ Steady profit structure and a further increase in revenue by higher volatility and interest rates-

Increased brokerage commission in 4Q due to high volatility of 17.4* (vs 10.3* in 3Q)-

As an increase in volatility accelerated transactions in 4Q, Commission received + Net financial
income increased by about 18% from the previous quarter-

After the expiration of interest rate swap in November 2018, $ 1 B of customers’ assets in custody
will earn a higher rate of interest. Assuming the US Federal Fund rate is raised 25 bps in bothJune and December 2018, net interest income in FYE 2019 would increase by $ 11 M (vs FYE
2018)*VIX close average price◆VIX and commission received + net financial income
Commission received + Net financial income (Left)◆Net interest income (*1) and US Federal Fund rate

VIX（Close Ave）(Right)(USD million)

Net interest income from investment(left)（％）

US Federal Fund rate(%, right)(USD million)
50

25

50

40

20

40

30

15

30

Significant increase

1.5

20

10

20

in net financial income

1

10

5

10

0

0

0

4Q of FYE
Mar. 2016

1Q of FYE
Mar. 2017

2Q of FYE
Mar. 2017

3Q of FYE
Mar. 2017

4Q of FYE
Mar. 2017

1Q of FYE
Mar. 2018

2Q of FYE
Mar. 2018

3Q of FYE
Mar. 2018

4Q of FYE
Mar. 2018

2.5

*2

2

0.5
2010/3 2011/3 2012/3 2013/3 2014/3 2015/3 2016/3 2017/3 2018/3 2019/3

0*1 Excluding net interest income from margin trading and stock lending*2 Assuming the rate will be raised 25bps respectively in June and December 201834

Business Update Asia Pacific Segment

Explore business opportunities in Asia Pacific area
■ Launched online securities business operation in Australia-

Monex Securities Australia Pty Ltd operates online securities business since January 2018-

The company makes use of the system of the HK-based brokerage subsidiary in order to lighten
the infrastructure and offer cost-competitive services-

Strengthen marketing for recognition to enlarge customer base-

Establish a business model in Australia, leading to business expansion in other regions■ Quarterly financial results of Monex Boom Securities (HK)- Amount equivalent to operating income increases 76% from 3Q due to steadily growing
revenue including an increase of brokerage commissions-

Various promotions and PR activities to expand customer base-Launched futures trading service on April 23, 2018

■Providing technology and knowledge of online brokerage business through a joint venture in PRC

35

I.

Highlights

II.

Consolidated Performance

III.

Business Update

IV.

Mid- & Long-Term Initiatives

Appendix. Group Overview

36

MONEX’s New Beginning

Redefine finance for a new era. Support everyone’s investment and economic needs
Using block chain technology, execute all the tradings offinancial products and every financial transactions insafety and at low cost. Creating our own block chain and
its ICO are in the scope

Future offinance,staying one
step ahead

Design a new service using block chain technology

Independent management in every
segment. Higher profitability
Globalization andsystem internalization

New beginning

Growth inonlinebrokerage
marketGlobalization
Expand through M&As
Diversified Experts in Finance and IT

Growth Engine

Foundation

Expand Business Using In-House Systems

GLOBAL VISION
Financial
Liberalization

Global Strategy Connecting Japan, the US andChina

Internet (Data Traffic Revolution)

Effective Governance System

GLOBAL VISIONⅡ-Bloom
Block Chain (Data Management Revolution)

37

Our medium- to long-term management strategy “Global Vision Ⅱ- Bloom”

Aim to improve margin to achieve business growth and a consolidated operating profit
margin of 30%

Listed Holding Company
Monex Group will enhance its ability to oversee each region and segment to ensure the implementation of optimal businessstrategies, the effective allocation of management resources and the promotion of mutually beneficial cooperation and collaboration
across segments so that synergies can be created and maximized across the entire Group.

US Segment

Japan Segment

Asia- Pacific Segment

US segment will broaden its
customer base

Japan segment will reduce costs and increase revenues with our worldclass financial expertise and the in-house backbone system, whichenables to develop systems flexibly, quickly and inexpensively

Asia Pacific segment aims to
expand the business size

Also Japan segment will use block chain technology for the aim of executeall the trading of financial products and every financial transactions insafety and at low cost. Creating our own block chain and its ICO are in the
scope

Strengthen the management structure that all the group companies establish an independent management
system with a sufficient profitability and contribute to the profit and the corporate value of the Monex Group 38

Corporate Governance

Establish global-standard corporate governance practices and emphasize on
dialogue with retail/institutional investors
Adoption of “company with three committees” structure - Highly effective executive managementmonitoring system- Adopted “company with committees” structure in June 2013
- Each of the three committees is chaired by an independent & outside director

Directors with various backgrounds- Six* out of nine directors qualify as “independent & outside” directors and four independent & outside
directors have managed companies- Appointed a lead outside director. Actively exchanges opinions at meetings led by the lead outside director andcomposed mainly by independent & outside directors- Various backgrounds: Management experience (current/former CEOs of listed companies or global companies), Expertise(lawyer, CPA*), Business experience (finance, IT, global business), Culture & society (gender, country of residence, nationality)

Fair disclosure and dialogue for retail/institutional investors- Timely and fair information disclosure both in Japanese and English- Active dialogue with shareholders: CEO holds quarterly presentation sessions for retail shareholders- Annual general meeting of shareholders is held on weekend so that retail shareholders can attend the meeting(Reference)
13th ordinary general meeting of shareholders (June 24, 2017)
Attendance of shareholders: 685* Subjects for approval at the ordinary general shareholders meetings in June 23, 201839

I.

Highlights

II.

Consolidated Performance

III.

Business Update

IV.

Mid- & Long-Term Initiatives

Appendix. Group Overview

40Group Overview – 3 streams for Monex value

Three retail brands: “Monex”, “TradeStation”, and “BOOM”
Brand

GlobalOperations－Oki Matsumoto, a former partner at Goldman Sachs, established Monex and led the online brokerageindustry as a pioneer in Japan－ Japan: “Monex” promotes long & diversified investment and is supported by "investors"
US : "TradeStation" started as a systems company and its technology is appreciated by "traders“
HK : “BOOM” offers multi-currency and multi-market trading and has the longest history as an online
broker in Asia
AU : ”Monex Australia” makes use of the system of the HK-based brokerage subsidiary in order to lighten
the infrastructure and offer cost-competitive services

Business bases in Japan, US, and China. Products, customers
and human resources are global－Offer global financial products online to retail investors－Have 12 business bases mainly in North America and Asia. More than 60% of about 850 employees
worldwide are based in the US

Create new customer experience and value based on technology
Technology- TradeStation’s technology creates competitive products and services, which leads to B2B business anddiversifies its revenue stream- Realize products and services with financial engineering, along with early involvement in research anddevelopment of FinTech. Will use resources to take advantage of new technologies such as block chain41

Group Overview
 Japan: 1.76M accounts, US: 93K accounts, HK: 10K accounts. Monex has a global customer base
 Aim for continuous growth in the online brokerage business for retail investors as our core business◆Consolidated Operating Revenue(JPY million)
600

500

Operating revenue in Asia-pacific segment
Operating revenue in US segment
Operating revenue in Japan segment

400

300

200

100

0
2000/3

Expanded through M&As inside Japan

2006/3

2010/3

2012/3

Expanded globally

2018/3Globalization & system internalization

42

Group Overview－Revenues, Costs: 60% from Japan, 40% from US; Employees: 40% in Japan, 60% in US◆Total operating revenue after deducting financial expenses
by region and by business
Others 2%
Financial income 9%
Options*1
5%Equities*1
28%

AP 2%

U.S.
34%

Futures*1
11%

Japan
64%
Revenue
JPY 49,155M(FYE Mar. 2018)

Futures andOptions 1%
FX 8%

Equities 7%
Others 2%

Mutual Funds 4%

Financial income 20%◆Employees by segment and by department◆SG&A by segment and by cost items
Others 3%
Commissions
paid 7%Advertising
AP 2%
expenses 3%
Communication,
freight and
SG&A
U.S.
information
Japan
41% JPY 39,853M
expenses 4%
57%

Systemrelated expenses*2
29%(FYE Mar. 2018)

Compensation
and benefits*2
System related
expenses 8%

Compensation
and benefits 10%

Communication, freight andOthers 4%
information expenses 4%
Commissions paid 5%
Advertising expenses 4%

Technology 8%
Others 8%
Operation 6%

Marketing 11%
AP 5%

Marketing5%

Employees Japan
853 persons 38%

Operation 9%

US*3 (as of Mar. 2018)57%

Others 10%
Technology*3 39%*1. Total operating revenue after deducting financial expenses : USaccounts for 1/3. Revenue in Japan primarily from equities while
revenue in the US primarily from futures and options*2. Total SG&A : Japan accounts for 60% and US and AP accounts for
40%. However, half of the Japanese portion is made up of system
related costs, whereas the largest percentage of the US total isfrom compensation and benefits costs.
*3. Employees: US account for 60%. US has a larger number oftechnology-related employees as it internally develops its system
43Group Overview－Corporate value creation process

As experts in finance, our personnel strive to expand customer baseusing IT technology

44Group Overview - Investment portfolio

Expanding investments in Fintech companies
Online life insurance
invested in 2006

Listedon Mar. 2012
on TSE Mothers

P2P lending
invested in 2014

Information platform/Curation
investedin2009

PFM*/Crowd Accounting
invested in 2012

Listedon Oct. 2016 on TSE Mothers

Listedon Sep.2017 on TSE MothersEC
invested in 2014

Payment
invested in 2015

DLT * *
invested in 2015

（registered as Type Ⅱ
Financial Instruments
Business）

Investment
Information/DWM
invested in 2016

Web media
Invested in 2017

Mortgage loan consulting
invested in 2015

Online reservation
App for upper-end
invested in 2016

(registered as moneylender)

B2B Robo-advisor
invested in 2016

Vertical EC
Invested in 2018

* PFM=Personal Financial Management** DLT=Distributed Ledger Technology

AI/Big Data
Invested in 2017

Custom-designed
Investment platform
invested in 2017

Stock Investment type
Crowd funding Invested in2017（registeredas Type Ⅰ
FinancialInstruments
Business）（registeredas Type I
SmallAmountElectronic
PublicOfferingServiceProvider）

AI

PFM*

Invested in 2018

Invested in 2018

Crypto-asset related business
Invested in 2018

Crypto-asset related business
Invested in 2017

Photo EC
Invested in 201845

Monex Group(As of March 31, 2018)
Listed Holding Company[Japan][US/Europe][Asia Pacific]

Online Securities Company

Monex International Limited
Holding Company in Hong Kong

TradeStation Group, Inc.
Holding Company in the U.S.

Online Securities Company

Monex, Inc.
Comprehensive investment service provider

Online Securities Company

Corporate Venture Capital

Program Trading

TradeStation Securities, Inc.

Monex BOOM Group
Online securities group in Hong Kong

Appreciated mainly by active traders (US)

Trade Science Corporation
Research and development of methodsof investment for marketable securities;

Beijing Representative Office(Monex, Inc.)
Monex Ventures, Inc.
Financial × IT × global
Venture investment

Technology

Online Securities Company

TradeStation Technologies, Inc.
Asset Management(US)

TradeStation Global Services, S.A.
(Costa Rica)

Monex Securities Australia Pty Ltd(Australia)

EU BaseTechnology support

TradeStation International Limited

Cherry Technology Co., Ltd[Equity method affiliates]

Small-lot and low-cost discretionary investment management
wrap service(Investment Ratio ) Monex G: 51％

Finance Company

Monex Finance Corporation
Finance company for the group companies of Monex Group

introduce international customers(Investment Ratio) Monex G: 49%

Note: Companies with no reference to investment ratio are wholly-owned subsidiaries of Monex Group, Inc.

46

Overview of Monex Group and Main Subsidiary Companies■ Monex Group, Inc. (Tokyo, Japan) TSE 1st Sec. Code: 8698

■ TradeStation Group (HQ in Florida, U.S.)- Chairman, Representative Executive Officer, CEO: Oki Matsumoto

Online securities group with award-winning trading technology
development capabilities- President: John Bartleman- Founded in 1982, joined Monex Group in Jun. 2011
- An award-winning TradeStation platform recognized and highly
regarded by active traders; a multi-asset platform with a robustalgorithm trading language (EasyLanguage®) that enables
sophisticated analysis capabilities and back-testing ability- Licenses “TradeStation” platform as a technology provider tobrokers in Japan, China and Korea- Products & services: Equities (U.S.), options and futures- # of active accounts: 74,810- Customers’ assets in custody: JPY 550,769 million- Established in 2004
- Financial holding company with major online brokerage firmsubsidiaries in Japan, US and China (Hong Kong)■ Monex, Inc. (Tokyo, Japan)
One of the major online brokerage firms in Japan- President : Oki Matsumoto- Founded in 1999
- Aims to provide retail investors the level of creative products &services offered to institutional investors- First in the Japanese industry to offer unique services & products
for retail investors (Examples): PTS/ECN, stock lending, leadmanager in an IPO as an online broker, RMB bonds, No.1 U.S.
equity service in Japan (the largest number of stock names
available, the longest trading hours & the lowest commissions),
offering the largest-class private equity fund in the world, First
smartphone app for US equity as major online broker- Products & services: Equities (Japan, U.S., Hong Kong), futures &options, FX, mutual funds, bonds, investment education, etc.
- # of total accounts: 1,760,805- # of active accounts: 1,045,035- (“Active accounts”: accounts with balance or with at least one
trade or transaction a year.)- Customers’ assets in custody: JPY 4.2290 trillion■ Monex Boom Securities Group (Hong Kong)
Offers access to over 12 markets- COO: Ivan Law- Founded in 1997, joined Monex Group in Dec. 2010
- First online stockbroker for retail investors in Asia Pacific- Products & services: Equities (12 markets such as Hong Kong, US,
Japan, etc.) Trades available in 6 currencies in a single trading
account- # of accounts with balance: 12,195- Customers’ assets in custody: JPY 169,082 million■ Monex Securities Australia Pty Ltd (Australia)- By utilizing the system and operating structure of Monex Boom
Securities Group- Managing Director: Alex Douglas- Founded in 2010, joined Monex Group in June 2011
The numbers above are as of March 31, 2018.

47

History of Monex Group
Japan

U.S.

1982

- TradeStation Technologies, Inc. is formed as Omega
Research, Inc.

1997

- TradeStation stock lists on NASDAQ

Asia Pacific- Boom Securities (H.K.) Limited is founded (now Monex Boom
Securities (H.K.) Limited), becoming the first in Asia Pacific tolaunch Internet stock trading for retail investors

1999 - Monex, Inc. is co-founded by Oki Matsumoto and Sony Corporation- Begins offering online brokerage service upon complete liberalizationof stock brokerage commissions in Japan
2000 - Monex, Inc. stock is listed on the Tokyo Stock Exchange "Mothers"Market2004 - Monex Beans Holdings, Inc. (now Monex Group, Inc.) is establishedthrough a business integration of Monex, Inc. and Nikko Beans, Inc.
- Monex Group, Inc. stock is listed on the Tokyo Stock Exchange"Mothers" Market in exchange for the delisting of Monex, Inc. stock2005 - Monex, Inc. and Nikko Beans, Inc. merge to become Monex, Inc.
(former name: Monex Beans, Inc.)- Monex Group, Inc. stock changes its listing from the "Mothers"Market to the First Section of the Tokyo Stock Exchange- Monex Business Incubation, Inc. (now Monex Group, Inc.) isestablished- TradeStation acquires Online Trading.com, a direct-accesssecurities brokerage firm2006

- TradeStation Europe Limited receives approval from the
FSA (UK) as an introducing broker

2008 - Acquisition of 90% shares of Tokyo Forex (absorbed in absorptiontype merger by Monex, Inc. in 2015)- Monex Group, Inc. opens a Beijing Representative Office (closed
in 2012 after opening Monex, Inc.'s Beijing Representative Office)2010 - Monex Group, Inc. completes a share exchange to acquire Orix
Securities Corporation- Monex, Inc. merges with Orix Securities Corporation- Monex, Inc. opens a Beijing Representative Office- Boom group companies (now Monex Boom group companies)
become wholly-owned subsidiaries of Monex Group, Inc.

2011

- TradeStation becomes a wholly-owned subsidiary ofMonex Group, Inc. and its stock delisted from NASDAQ- TradeStation Group, Inc. acquires IBFX Holdings, LLC

2012 - Monex Group, Inc. acquires Sony Bank Securities Inc.

- TradeStation Global Services, S.A.
(Costa Rica) is established2013 - Monex, Inc. merges with Sony Bank Securities Inc.
- Monex Group, Inc. becomes a Company with Committees- Monex Group, Inc. implements a stock split (1:100)
2015 - Monex, Inc. merges with Monex FX, Inc.
- Monex-Saison-Vanguard Investment Partners, Inc. is established2017 - Monex Finance, Inc. is established- Monex Crypto Bank, Inc. is established2018 - Monex Cryptocurrency Lab is set up- Cherry Technology Co., Ltd, which provides technical support in
PRC, is established- Monex Securities Australia Pty Ltd is launched new online
brokerage firm for individual investors in Australia

As of March 201848

Investors’ Guide■Pursue returns to shareholders through ROE improvement ■Shareholders & indicators per share◆ Dividend history(as of Mar. 31, 2018)
Momo, Inc.* and Oki Matsumoto FMR LLC (Fidelity)
9.2%
10.6%

Shizuoka
Bank
26.5%

Monex Group, Inc.
0.2%
Securities companies
3.4%

Individuals,
Foreigninstitutions, etc.
etc.
12.3%
21.9%

(yen)
20

Year-end
Interim

Other institutions
3.7%

To provide returns to shareholders based on our businessperformance, while reserving necessary capital as a
growing company◆Major shareholders and shareholder breakdown

Financial
institutions
12.1%◆ Our basic policy for shareholders distribution

The graph made by Monex based on shareholders’ list as of Mar. 31, 2018
and the Large shareholding report .
* Formerly known as Oki Matsumoto, Inc.

15

7.0

◆Indicators per share
10
FYE
Mar. 2014

FYE
Mar. 2015

FYE
Mar. 2016

FYE
Mar. 2017

FYE
Mar. 2018

Equity attributable to owners of
the Company per share (BPS)

280.52yen

302.18yen

302.03yen

290.00Yen

298.50Yen

Earnings per share attributableto owners of the Company(EPS)

35.76 yen

12.15yen

12.46yen

1.06yen24.33yen

Rate of Return on Equity(ROE)

12.9%

4.2%

4.1%

0.4%

8.3%

18.0yen

8.2yen9.6yen5.2yen10.0yen

2.6
6.3
5

11.0

7.0
7.0
1.2

0
FYE
Mar.2014

FYE
Mar.2015

FYE
Mar.2016

2.6
2.6

3.7

FYE
Mar.2017

FYE
Mar.2018

Dividends per share

Stock split was implemented on Oct. 1, 2013 and the above figures areadjusted retroactively since FYE Mar. 2014

Stock split was implemented on Oct. 1, 2013 and the above figures areadjusted retroactively since FYE Mar. 201449