Consolidated Financial Results (Japanese Accounting Standards)
for the First Quarter of the Fiscal Year ending March 31, 2024
July 27, 2023
Company name SBI Global Asset Management Co., Ltd.
Stock exchange listing: Tokyo Stock Exchange
Stock code
4765
URL https://www.sbiglobalam.co.jp
Representative (Title) Representative Director and President(Name) Tomoya Asakura
Person responsible for disclosure (Title) Executive Officer and CFO (Name) Yasuyuki Ogasawara +81 3 6229-0812
Scheduled date for filing of quarterly report: August 2, 2023
Scheduled date of payment of dividends: ―Supplementary documents for quarterly financial results: None
Quarterly financial results briefing: Yes (We will post a video of the briefing on our official website, targeting analysts andinstitutional investors.)(Amounts of less than one million yen are rounded down)

1. Consolidated Financial Results for the First Quarter of the Fiscal Year ending March 31, 2024
(April 1, 2023 to June 30, 2023)(1) Consolidated Results of Operations (cumulative)
Net salesFirst quarter of Fiscal Yearending March 31, 2024
First quarter of Fiscal Year
ended March 31, 2023
(Note) Comprehensive income(Percentages show year-on-year changes)

Operating income

Net income attributableto owners of parent

Ordinary income

Million yen%

Million yen%

Million yen%

Million yen

%

2,446

21.9

541

5.1

678

9.3

434

20.2

2,007

1.0

515

1.7

621

1.2

361

△12.6

Q1 of the Fiscal Year ending March 31, 2024 277 Million yen (△20.5%)
Q1 of the Fiscal Year ended March 31, 2023 349 Million yen (△11.1%)

Net income per share (basic)

Net income per share (diluted)

yenFirst quarter of Fiscal Yearending March 31, 2024
First quarter of Fiscal Year
ended March 31, 2023

4.84

―

4.03

―

(2) Consolidated financial position
Total assets
First quarter of Fiscal Yearending March 31, 2024
Fiscal Year ended March
31, 2023

yen

Net assets

Equity ratio

Net assets per share

Million yen

Million yen%

yen

18,017

15,93486.6

173.96

21,356

16,79977.2

183.79(Reference) Shareholders’ equity Q1 of the Fiscal Year ending March 31, 2024 15,599 Million yen
Fiscal Year ended March 31, 2023 16,481 Million yen

2. Dividends
End of first quarterEnd of second
quarteryen

Fiscal Year ended March
31, 2023
Fiscal Year ending March
31, 2024
Fiscal Year ending March
31, 2024 (forecast)

Dividend
End of third
quarter

yen

―

8.25

Year-endyen―

Annual
yen

yen

12.75

21.00

―
―

(Note) Revision to the most recently announced dividend forecast: None
Forecast of the annual dividend for the year ending March 31, 2024, is yet to be determined.

―

―

―

3. Forecasts of Consolidated Financial Results for the Fiscal Year ending March 31, 2024 (April 1, 2023, to March 31, 2024)
Consolidated Forecasts for the Fiscal Year Ending March 31, 2024, are yet to be determined.

(Note) Revision to the most recently announced earnings forecast: None

*Notes(1) Changes in significant subsidiaries during the quarter under review(changes in specified subsidiaries affecting the scope of consolidation): Yes
Excluded 1 company
New company (Company name) ―,Shinsei Investment Management Co., Ltd.
(Company name)(2) Application of special accounting treatment for preparing quarterly consolidated financial statements: None
(3) Changes in accounting policies and estimates, and retrospective restatements
1) Changes in accounting policies caused by revision of accounting standards
2) Changes in accounting policies other than 1)
3) Changes in accounting estimates
4) Retrospective restatements(4) Number of shares issued (common stock)1) Number of shares outstanding at end of Q1, Fiscal Year ending
period (including treasury stocks)
March 31, 2024
2) Number of treasury stocks at end of
Q1, Fiscal Year ending
periodMarch 31, 2024
3) Average number of shares during period Q1, Fiscal Year ending(quarterly cumulative)
March 31, 2024

: None: None: None: None89,673,600
As of March 31, 2023
shares89,673,600
shares

120 shares As of March 31, 2023

170 shares

89,673,480 Q1, Fiscal Year ended
shares March 31, 2023

89,673,430
shares*This quarterly financial summary is outside the scope of the quarterly review performed by certified accountants and auditors.
*Explanation regarding the appropriate use of financial forecasts and other special items(Dividend forecast of Fiscal Year ending March 31, 2024)
The dividend forecast for the Fiscal Year ending March 31, 2024, is yet to be determined. It will be disclosed as soon as the dividend per share isdetermined after comprehensively taking into account future business performance, etc.
(How to obtain the financial results briefing)A briefing of financial results for analysts is scheduled to be held on July 27, 2023. We will post a video of the briefing on our official website promptly
after it is held.

SBI Global Asset Management Co., Ltd. (4765) Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024

 Table of contents of attachments
1.

2.

Qualitative Information on Quarterly Financial Results ..............................................................................................................2(1)

Explanation of Business Results ...........................................................................................................................................2(2)

Explanation of Financial Position .........................................................................................................................................3(3)

Priority Business and Financial Issues to Be Addressed .......................................................................................................3

Quarterly Consolidated Financial Statements and Major Notes ..................................................................................................4(1)

Quarterly Consolidated Balance Sheet..................................................................................................................................4(2)

Quarterly Consolidated Statement of Income and Quarterly Consolidated Statement of Comprehensive Income ...............6
Quarterly Consolidated Statement of Income

6First quarter of the fiscal year ...........................................................................................................................................6
Quarterly Consolidated Statement of Comprehensive Income

6First quarter of the fiscal year ...........................................................................................................................................6(3)
3.

Notes on Quarterly Consolidated Financial Statements ........................................................................................................7

Other non-operating expenses ...................................................................................................................................................12
Significant events regarding the premise of a going concern .........................................................................................................12-1-

SBI Global Asset Management Co., Ltd. (4765) Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024

1.

Qualitative Information on Quarterly Financial Results(1)

Explanation of Business Results
In Asset Management Business for the first quarter of the fiscal year under review (from April 1, 2023 to June 30, 2023),
management fees (trust fees) increased as the investment balance of publicly offered index funds of SBI Asset Management Co.,
Ltd., the core of this Business, increased 72.7% from the end of the same period of the previous year and the investment balanceof the Group also increased 31.6% year on year (from April 1, 2022 to June 30, 2022). During the period, we expanded our productlineup by establishing 11 publicly offered index funds. Sales of the Asset Management Business increased by 458 million yen(30.9%) year on year to 1,941 million yen, as the businesses of Shinsei Investment Management Co., Ltd. have been added (Itbecame a wholly owned subsidiary in October 2022. After that, it was merged with SBI Asset Management Co., Ltd., theCompany’s subsidiary, at the beginning of the first quarter under review).
In the Financial Services Business, sales of data provision services for tablets used by financial institutions for providing advice
to customers increased steadily at Wealth Advisor Co., Ltd., which is in charge of this Business. In addition, there was an increasein the number of financial institutions using the data provided by Wealth Advisor Co., Ltd. as a non-face-to-face tool on theirwebsites. Although the impact of the brand change in the Business at the end of the previous fiscal year on business results was
minimal, holding of asset management seminars and sales of related online advertising are still recovering. As a result, sales of the
Financial Services Business decreased by 20 million yen (△3.8%) to 504 million yen.
For the consolidated business results for the first quarter of the fiscal year under review, sales amounted to 2,446 million yen,
an increase of 438 million yen (21.9%) from 2,007 million yen for the same period of the previous fiscal year, reaching a record
high. Cost of sales was 1,150 million yen, an increase of 271 million yen (30.9%) from 878 million yen for the same period of theprevious fiscal year. Selling, general and administrative expenses were 754 million yen, an increase of 140 million yen (22.9%)
from 613 million yen for the same period of the previous fiscal year.
As a result, for the first quarter of the fiscal year under review, operating income amounted to 541 million yen, an increase of
26 million yen (5.1%) from 515 million yen for the same period of the previous fiscal year.
Non-operating income less non-operating expenses increased by 31 million yen compared with the same period of the previous
fiscal year, and ordinary income for the first quarter of the fiscal year under review totaled 678 million yen, an increase of 57
million yen (9.3%) from 621 million yen for the same period of the previous fiscal year, hitting a new record high.
Based on the above-mentioned results, net income attributable to owners of parent for the first quarter of the fiscal year underreview was 434 million yen, an increase of 73 million yen (20.2%) from 361 million yen for the same period of the previous fiscal
year and marked a record high.
(Summary of consolidated financial results)
First Quarter of Previous Fiscal YearFirst Quarter of Current Fiscal Year

From April 1, 2022,

From April 1, 2023,

To June 30, 2022

To June 30, 2023

Amount(Thousand yen)
Net sales

Profit rate(%)

Amount(Thousand yen)

2,007,387

Increase/Decrease

Profit rate
AmountRate (%)(%) (Thousand yen)

2,446,028

438,640

21.9

Operating income

515,29625.7

541,541

22.1

26,244

5.1

Ordinary income

621,15830.9

678,920

27.8

57,762

9.3

Net income attributableto owners of parent

361,12618.0

434,209

17.8

73,083

20.2

Consolidated net sales increased for the 4th consecutive year and recorded the highest sales for the 4th consecutive year.
Operating income increased for the 3rd consecutive year.
Ordinary income increased for the 3rd consecutive year and posted a record high.
Net income attributable to owners of parent recorded highest income.
Sales by segment are as follows.

Sales by Segment

First Quarter of Previous Fiscal Year
From April 1, 2022,
To June 30, 2022
Amount (Thousand yen)

Rate (%)

First Quarter of Current Fiscal Year
From April 1, 2023,
To June 30, 2023
Amount (Thousand yen)

Rate (%)

Rate ofchange(%)

Asset Management Business

1,482,525

73.9

1,941,174

79.4

30.9

Financial Services Business

524,86226.1

504,854

20.6

△3.8

-2-

SBI Global Asset Management Co., Ltd. (4765) Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024

Consolidated sales

2,007,387

100.0

2,446,028

100.0

21.9

1) Asset Management Business
The balance of assets under management (including the balance of advisory assets) of three subsidiaries of the AssetManagement Business increased compared to the end of the same quarter of the previous fiscal year. The combined total balanceof assets under management increased 31.6% year on year to 4.98 trillion yen at the end of the quarter under review (June 30,2023) from 3.78 trillion yen at the end of the same quarter of the previous fiscal year (June 30, 2022). At SBI Asset Management
Co., Ltd., the core of the Business, management fees (trust fees) increased due to a rising investment balance, supported by acontinued increase in the investment balance of publicly offered index funds as well as the investment balance of the entire Group.
Sales of the Asset Management Business increased by 458 million yen (30.9%) year on year to 1,941 million yen, as the businessesof former Shinsei Investment Management Co., Ltd. have been added (It became a wholly owned subsidiary in October 2022.
After that, it was merged with SBI Asset Management Co., Ltd., the Company’s subsidiary, at the beginning of the first quarter
under review).
Segment income was 407 million yen, an increase of 46 million yen (12.8%) from 360 million yen for the same period of theprevious fiscal year.
2) Financial Services Business
Sales of data provision services for tablets used by financial institutions for providing advice to customers continued to increasesteadily at Wealth Advisor Co., Ltd., which is in charge of this Business. In addition, there was an increase in the number offinancial institutions using the data provided by Wealth Advisor Co., Ltd. as a non-face-to-face tool on their websites. Although
the impact of the brand change in the Business at the end of the previous fiscal year on business results was minimal, holding ofasset management seminars and sales of related online advertising are still recovering. As a result, sales of the Financial Services
Business decreased by 20 million yen (△3.8%) to 504 million yen.
Segment income was 134 million yen, a decrease of 20 million yen (△13.0%) from 154 million yen for the same period of theprevious fiscal year.
(2)

Explanation of Financial Position
Total assets decreased by 3,338 million yen from the end of the previous consolidated fiscal year to 18,017 million yen. Thiswas due to a decrease of 7,921 million yen in current assets, and an increase of 4,584 million yen in non-current assets. The
decrease in current assets was mainly due to a net increase of 1,086 million yen in cash and deposits as a result of the purchase ofinvestment securities, payment of dividends, and payment of income taxes payable, in addition to a decrease of 9,288 million yen
due to the collection of accounts receivable - other associated with the return of the Morningstar license.
The increase in non-current assets was mainly due to the acquisition of investment securities of 5,000 million yen and the saleof investment securities of 315 million yen.
Total liabilities decreased by 2,472 million yen from the end of the previous consolidated fiscal year to 2,083 million yen. The
decrease in liabilities was mainly due to a decrease in income taxes payable by 2,458 million yen by tax payment.
Total net assets decreased by 865 million yen from the end of the previous consolidated fiscal year to 15,934 million yen.
For the period under review, net income attributable to owners of parent of 434 million yen was recorded and dividends of 1,143
million yen were paid, and as a result, retained earnings decreased by 709 million yen.
Valuation difference on available-for-sale securities decreased by 201 million yen due to declines in fair value ofinvestment securities.
Foreign currency translation adjustments increased by 29 million yen due to the difference between the exchange rate at thetime of acquisition of shares of a U.S. subsidiary and the exchange rate for the period under review.

(3)

Priority Business and Financial Issues to Be Addressed
There are no significant changes in the issues that the Group should address during the first quarter of the fiscal year underreview.

-3-

SBI Global Asset Management Co., Ltd. (4765) Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024

2.

Quarterly Consolidated Financial Statements and Major Notes(1)

Quarterly Consolidated Balance Sheet(Thousand yen)
Fiscal Year ended March 31,
2023(March 31, 2023)

First Quarter of Current
Fiscal Year
(June 30, 2023)

ASSETS
Current assets
Cash and cash equivalents
Accounts receivable
Inventories
Other accounts receivable
Other current assets

2,137,894
1,483,903※11,386
9,409,529
959,197

3,224,013
1,810,922※11,013120,823
913,848

Total current assets

13,991,911

6,070,621※2345,777※2 360,358

1,676,585
863,429
39,775

1,656,711
844,277
54,906

2,579,790

2,555,895

Investments and other assets
Investment securities
Deferred tax assets
Other investment and other assets

3,871,154
416,769
142,375

8,419,085
461,624
143,363

Total investments and other assets

4,430,299

9,024,072

7,355,867

11,940,326

Deferred assets
Stock issuance cost

8,587

6,663

Total deferred assets

8,587

6,663

21,356,365

18,017,612

Non-current assets
Tangible fixed assets
Intangible fixed assets
Goodwill
Software
Other intangible assets
Total intangible assets

Total non-current assets

TOTAL ASSETS-4-

SBI Global Asset Management Co., Ltd. (4765) Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024

(Thousand yen)
Fiscal Year ended March 31,
2023(March 31, 2023)

First Quarter of Current Fiscal
Year(June 30, 2023)

LIABILITIESCurrent liabilities
Accounts payable-trade
Accounts payable–other
Lease payable
Income taxes payable
Consumption taxes payable
Other current liabilities

62,753
1,010,877
50,646
2,709,257
12,179508,107

16,826
1,005,347
52,058250,388
92,432475,927

Total current liabilities

4,353,822

1,892,981

202,641

190,508

202,641

190,508

4,556,464

2,083,489

3,363,635
4,514,168
8,335,546

3,363,635
4,514,168
7,626,419

△20

△20

16,213,329

15,504,202

Valuation difference on other securities

13,440△187,586

Foreign currency translation adjustments

254,273283,282

Total accumulated other comprehensive income

267,713

95,695

318,858

334,224

16,799,901

15,934,122

21,356,365

18,017,612

Non-current liabilities
Lease payable
Total non-current liabilities
TOTAL LIABILITIESNET ASSETS
Shareholders’ equity
Common stock
Capital surplus
Retained earnings
Treasury stocks
Total shareholders’ equity
Accumulated other comprehensive income

Non-controlling shareholders’ equity
TOTAL NET ASSETSTOTAL LIABILITIES AND NET ASSETS-5-

SBI Global Asset Management Co., Ltd. (4765) Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024

(2)
Quarterly Consolidated Statement of Income and Quarterly Consolidated Statement of Comprehensive Income
Quarterly Consolidated Statement of Income
First quarter of the fiscal year
(Thousand yen)First Quarter of Previous Fiscal
First Quarter of Current Fiscal
Year
Year
(From April 1, 2022
(From April 1, 2023
To June 30, 2022)
To June 30, 2023)
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividends income
Gain on sale of investment securities
Other non-operating income
Total non-operating income
Non-operating expenses
Foreign exchange losses
Amortization of stock issuance cost
Other non-operating expenses
Total non-operating expenses
Ordinary income
Extraordinary loss
Loss on valuation of crypto assets
Total extraordinary loss
Income before income taxes
Income taxes-current
Income taxes-deferred
Total income taxes
Profit
Net income attributable to non-controlling interests
Net income attributable to owners of parent

2,007,387
878,439
1,128,948※ 613,651
515,296

2,446,028
1,150,158
1,295,870※ 754,328
541,541

54,81453,942
662
109,418

1,351
100,078
38,592803
140,825

230
2,604
722
3,557
621,158

2,665
780
3,446
678,920

4,848
4,848
616,309
166,484
42,545
209,030
407,279
46,153361,126

678,920
190,732
37,842
228,575
450,345
16,135434,209First Quarter of Previous Fiscal
Year(From April 1, 2022
To June 30, 2022)

First Quarter of Current Fiscal
Year(From April 1, 2023
To June 30, 2023)

407,279

450,345

Valuation difference on other securities△147,036△201,795

Foreign currency translation adjustments

89,02329,008△58,013△172,786

349,266

277,558

303,112262,191

46,15315,366

Quarterly Consolidated Statement of Comprehensive Income
First quarter of the fiscal year
(Thousand yen)

ProfitOther comprehensive income

Total other comprehensive income
Comprehensive income(Breakdown)Comprehensive income attributable to owners ofparentComprehensive income attributable to noncontrolling interests-6-

SBI Global Asset Management Co., Ltd. (4765) Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024

(3)

Notes on Quarterly Consolidated Financial Statements(Notes on the premise of a going concern)
Not applicable(Notes on change in the scope of consolidation or the scope of application of the equity method)
Significant change in scope of consolidation
Shinsei Investment Management Co., Ltd., which was a consolidated subsidiary of the Company, is excluded from the scopeof consolidation because it ceased to exist during the first quarter of the fiscal year under review as a result of an absorptiontype merger in which SBI Asset Management Co., Ltd., also a consolidated subsidiary of the Company, was the surviving
company.
(Notes on the changes in accounting policies)
Not applicable(Application of special accounting treatment for preparing quarterly consolidated financial statements)
Not applicable(Notes on quarterly consolidated balance sheet)*1
Breakdown of inventories
Fiscal Year ended March 31, 2023
(March 31, 2022)

Supplies*2

1,386 thousand yen

First Quarter of Current Fiscal Year
(June 30, 2023)
1,013 thousand yen

Accumulated depreciation of
tangible fixed assets
Fiscal Year ended March 31, 2023
(March 31, 2022)
287,655 thousand yen

First Quarter of Current Fiscal Year
(June 30, 2023)
315,692 thousand yen(Notes on quarterly consolidated statement of income)*
Major items of selling and general administrative expenses

Employees’ salaries

First Quarter of Previous Fiscal Year
(From April 1, 2022
To June 30, 2022)

First Quarter of Current Fiscal Year
(From April 1, 2023
To June 30, 2023)

251,877 thousand yen

317,022 thousand yen(Notes on quarterly consolidated statement of cash flows)
We did not prepare any quarterly consolidated statement of cash flows for the period under review. Shown below are
depreciation and amortization expenses (including amortization expense of intangible fixed assets, excluding goodwill) andamortization expense of goodwill for the period under review.
First Quarter of Previous Fiscal Year
(From April 1, 2022
To June 30, 2022)

First Quarter of Current Fiscal Year
(From April 1, 2023
To June 30, 2023)

Depreciation

108,848 thousand yen

76,433 thousand yen

Amortization of goodwill

28,701

25,542-7-

SBI Global Asset Management Co., Ltd. (4765) Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024

(Notes on shareholders' equity)
I
First quarter of the previous fiscal year (from April 1, 2022 to June 30, 2022)
Dividends paid
Resolution ofKind of shares

Source ofdividends

Total dividends Dividend pershare (yen)(Thousand yen)

Board of directors’
Retainedmeeting on May 19, Common stockearnings
2022

807,060

9.00

Date of rightallotment
March 31, 2022

Effective dateJune 1, 2022

II
First quarter of the current fiscal year (from April 1, 2023 to June 30, 2023)
Dividends paid
Resolution ofKind of shares

Board of directors’
meeting on May 9,
2023

Common stock

Source ofdividends

Total dividends Dividend pershare (yen)(Thousand yen)

Retainedearnings

1,143,338(Notes on significant change in shareholders' equity)
Not applicable

-8-

12.75

Date of rightallotment
March 31, 2023

Effective dateJune 1, 2023

SBI Global Asset Management Co., Ltd. (4765) Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024

(Segment information, etc.)[Segment information]
1. Information on sales and income or loss for each reporting segment
First quarter of the previous fiscal year (from April 1, 2022 to June 30, 2022)
Reporting segment
Asset
Management
Business

Financial
Services
Business(Thousand yen)Amountrecorded on
consolidated
financialstatements

Matters
concerning
difference
adjustment

Total

Sales
Sales to external customers

1,482,525

524,862

2,007,387-

2,007,387

28

5,997

6,025

△6,025-

Total

1,482,553

530,859

2,013,413△6,025

2,007,387

Segment operating income

360,922

154,373515,296-515,296

Internal sales or transfers between segments

First quarter of the current fiscal year (from April 1, 2023 to June 30, 2023)(Thousand yen)AmountMatters
recorded on
concerning
consolidated
difference
financialadjustment
statements

Reporting segment
Asset
Management
Business

Financial
Services
Business

Total

Sales
Sales to external customers

1,941,174

504,8542,446,028-

2,446,028

181

1,149

1,330

△1,330-Total

1,941,355

506,0032,447,358△1,3302,446,028

Segment operating income

407,250

134,291

541,541-

541,541

Internal sales or transfers between segments

2. Difference between the total of reporting segments and the quarterly consolidated statement of income and the main content of
the difference (matters concerning difference adjustment)(Thousand yen)First Quarter of Previous
First Quarter of Current
Sales
Fiscal Year
Fiscal Year
Total of reporting segment

2,013,413

2,447,358

Elimination of transactions between segments△6,025△1,330Net sales in the quarterly consolidated statement of income

2,007,387

2,446,028

First Quarter of Previous
Fiscal Year

(Thousand yen)First Quarter of Current
Fiscal Year515,296

541,541--515,296

541,541

Sales
Total of reporting segment
Elimination of transactions between segments
Operating income in the quarterly consolidated statement of income

3. Information on impairment loss on fixed assets or on goodwill of each reporting segment(Significant impairment loss on non-current assets)
Not applicable(Significant changes in the amount of goodwill)
Not applicable(Significant gain on bargain purchase)
Not applicable-9-SBI Global Asset Management Co., Ltd. (4765) Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024

(Business combination)
Transactions between entities under common control
At the Board of Directors meeting held on January 27, 2023, the Company resolved to conduct an absorption-type merger
regarding its consolidated subsidiaries, SBI Asset Management Co., Ltd. and Shinsei Investment Management Co., Ltd., with SBI
Asset Management Co., Ltd. as the surviving company, and conducted the said absorption-type merger on April 1, 2023.
1. Summary of Transactions(1) The names of the parties to the combination and the details of their businesses
1) Company surviving the absorption-type merger
Name:
SBI Asset Management Co., Ltd.
Business details:
Formation and management of publicly offered equity-type index funds and privately placed
fixed-income funds entrusted mainly by regional financial institutions
2) Companies disappearing in the absorption-type merger
Name:
Shinsei Investment Management Co., Ltd.
Business details:
Management of publicly offered and privately placed investment trusts(2) Date of business combination: April 1, 2023
(3) Legal form of business combination
An absorption-type merger with SBI Asset Management as the surviving company, and Shinsei Investment Management as
the disappearing company.
(4) Name of the combined entity
SBI Asset Management Co., Ltd.
(5) Summary of the transaction, including its purpose
The purpose of the absorption-type merger was to integrate management resources such as systems, data, and personnel, to
improve operational efficiency and enhance profitability, and to further strengthen the risk management and compliancesystems.
(6) Matters related to calculation of acquisition cost of additionally acquired subsidiary shares
The number of shares of SBI Asset Management to be allotted upon the absorption-type merger has been determined by
calculating the ratio of the amount equivalent to shares held by shareholders of each company to the book value (net assets)of the companies involved in the merger as of December 31, 2022, so that the ratio of the amount equivalent to shares held byshareholders of each company to the combined net assets of the two companies as of December 31, 2022, will be eachshareholder’s shareholding ratio after the merger.
SBI Asset Management Co., Ltd. has allotted a total of 308,937 shares of SBI Asset Management stock at the ratio of
31.2058 shares of common stock for each share of Shinsei Investment Management common stock.
As Shinsei Investment Management Co., Ltd. was a wholly owned subsidiary of the Company, all of the shares of SBI AssetManagement Co., Ltd. allotted have been acquired by the Company.
2.

Summary of accounting treatment implemented
These transactions are accounted for as transactions between entities under common control, in accordance with the“Accounting Standard for Business Combinations” (ASBJ Statement No. 21, January 16, 2019) and the “Implementation
Guidance on Accounting Standard for Business Combinations and Accounting Standard for Business Divestitures” (ASBJ
Guidance No. 10, January 16, 2019).

- 10 -

SBI Global Asset Management Co., Ltd. (4765) Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024

(Revenue recognition)
Disaggregation of revenue from contracts with customers
First quarter of the previous fiscal year (from April 1, 2022 to June 30, 2022)(Thousand yen)
Reporting segment
Financial
Services
Business

Asset
Management
BusinessAmount recordedon consolidatedbalance sheet

Other

Total

Data Solutions-

454,135

454,135-

454,135

Media Solutions-

70,72670,726-70,726

Asset Management

1,482,525-

1,482,525-

1,482,525

Revenue from contracts
with customers

1,482,525

524,862

2,007,387-

2,007,387

-

-

-

-

-

1,482,525

524,862

2,007,387-

2,007,387

Other revenue

Sales to external customers

First quarter of the current fiscal year (from April 1, 2023 to June 30, 2023)(Thousand yen)
Reporting segment
Financial
Services
Business

Asset
Management
Business

Other nonoperating
expenses

Total

Amount recordedon consolidatedbalance sheet

Data Solutions-

439,465

439,465-

439,465

Media Solutions-

65,38865,388-65,388Asset Management

1,941,174-

1,941,174-

1,941,174

Revenue from contracts
with customers

1,941,174

504,8542,446,028-

2,446,028

-

-

-

-

-

1,941,174

504,8542,446,028-

2,446,028

Other revenue

Sales to external customers- 11 -

SBI Global Asset Management Co., Ltd. (4765) Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024

(Information on a per share basis)
The amount of net income per share and the basis for calculation are as follows.
First Quarter of Previous Fiscal
Year(From April 1, 2022
To June 30, 2022)

First Quarter of Current Fiscal
Year(From April 1, 2023
To June 30, 2023)

4.03 yen

4.84 yen

361,126434,209－－

Net income attributable to owners of parent related
to common stock (Thousand yen)

361,126434,209

Average number of shares of common stock during
the period (Share)

89,673,430

89,673,480(1) Net income per share(Basis for calculation)
Net income attributable to owners of parent(Thousand yen)Amount not attributable to common shareholders(thousand yen)

Diluted net income per share is not stated as there are no dilutive shares.
(Significant subsequent events)
Not applicable

3.

Other non-operating expenses
Significant events regarding the premise of a going concern
Not applicable- 12 -