Company profileMarch, 2024

J Flag Investment Co.,Ltd.
Director of Kanto Local Finance Bureau(Financial instruments firms) No. 2218

Company Profile◆Name: J Flag Investment Co., Ltd.
◆Established: May, 2009
◆Business License: Investment Advisory◆Shareholder: Owned by Hisashi Osezawa◆Key Personnel:➢ Hisashi Osezawa, CEO,CIO➢ Koji Inokoshi, Director, Business Development➢ Etsufumi Sakakibara, Director, Internal Administration⚫Address: Jyujiya Bldg, 5F, 1-6-17,Nihonbashi-Kayabacho,Chuo-ku, Tokyo 103-0025⚫Telephone : +81-3-3666-0974⚫FAX : +81-3-3666-0975⚫E-mail: k.inokoshi@jflag-investment.com
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Management team

Board of Directors
Audit

CEOInvestment
ResearchBusinessDevelopment

Internal
Administration

Hisashi Osezawa
CEO＆CIO

Koji Inokoshi
MD

Etsufumi Sakakibara
MD

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Profile of Hisashi Osezawa (CEO&CIO)
August, 2001-May, 2009
JP Morgan Asset Management, Managing Director
Senior Portfolio Manager, JF Japan Portfolio Group

October. 1997-July. 2001
Shinwako Investment Management
Portfolio Manager, Japan Equity

April, 1994-September, 1997
Wako Securities, TokyoJapan Equity Analyst, International Division

April, 1991-March, 1994
Wako Securities US, New YorkJapan Equity Sales for US institutional investor

April, 1988-March, 1991
Wako Securities, TokyoJapan Equity Trader, International Division

April, 1987-March, 1998
Wako Securities, Tokyo
Retail Sales4

Philosophy & Style◆Philosophy ：➢Market is inefficient(especially for the mid./small cap. sector)➢Real value of individual company can beadequately identified by thorough company research➢In order to earn superior returns, top-down view(macro economic analysis, sector analysis,etc) isalso considered essential◆Investment Style : Growth At Reasonable Price◆Portfolio Construction : Bottom-up◆Risk Control : Monitoring Total risk

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Focused on micro/small cap area
Over10bil

All listed companies: approximately 3700

100
2bil~10bil
160

Big asset management company
Financial institution
Pension fund500m~2bil

420

Under 500m

3000
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Third-Party Evaluations (Investment Trust)Award "JF The Japan“ managed by Osezawa in JP Morgan

Morning Star Fund of the year 2002

Morning Star Fund of the year 2003

Lipper Fund Award Japan 2005
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Third - party evaluation
Simplex J Flag Fund was nominatedEurekahedge Asian Hedge Fund Awards 2013&2016

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Koji Inokoshi （Marketing & Business Development ）October, 2007 - May, 2009
T-Model Investment, Managing Director
April, 1998 - July, 2007
JP Morgan Asset Management, Vice President
Marketing for institutional investor
March, 1995 - March, 1998
Nikko International Capital Management
Marketing for institutional investor
April, 1990 - February, 1995
Nikko Securities, Tokyo
Retail Sales

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Etsufumi Sakakibara （Internal administration）
2008- 2016

BFC Asset Management
Managing Director, Head of Marketing

2002-2008

Barclays Global Investors
Client relationship group
Head of Marketing

1992-2002

Nikko Research Center
Investment Technology ResearchPension Research

1986-1992

Nikko Research Center
Investment analysis division
Nikko BARA

1984-1986

Nikko Securities, TokyoInternational sales division

10Document Disclaimer■The information on this paper is of a general nature only, provided in good faith andbelieved to be accurate at the time of compilation.
■Opinions, analysis, information, and other commentary expressed may change without notice.
■We are under no obligation to update the information on this paper.
■J Flag Investment does not make any warranty or representation as to the accuracy, reliability,timeliness, or completeness of the information on this paper.
■Except where liability under a statute cannot be excluded, we do not accept any responsibility for any
inaccuracies or incompleteness in the information provided, and disclaims all liability for any loss ordamage of any kind that may arise from any person acting on any statements contained in this paper.
■Copyright in the information and material contained in this paper is owned by J Flag Investment.
■The dissemination, reproduction, or transmission of the contents of this paper in any form andmanner whatsoever without the prior written permission of J Flag Investment is otherwise expressly
prohibited.

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