Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purpose. In the event ofany discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Statements for the First Quarter FY2024(Based on Japanese GAAP)
February 13, 2024
Name of listed company: GMO Financial Gate, Inc
Exchange:
Tokyo Stock Exchange Growth
Stock code:
4051
URL:
https://gmo-fg.com/
Representative: Kentaro Sugiyama, President & Chief Executive Officer
Contact:
Tomoki Tamai, Director, Administrative Division Executive Officer Tel: +81-3-6416-3881
Scheduled submission date of
Scheduled date of commencement
February 13, 2024－
quarterly reportfor dividend payment
Supplemental materials prepared for financial results： Yes
Information meeting arranged related to financial results ： Yes ( for institutional investors and analysts )(Amounts rounded down to the nearest one million yen)

1．Consolidated Financial Statements for the First Quarter, FY2024(From October 1, 2023 to December 31, 2023)(1)Consolidated Financial Statements (Cumulative)(Percentages represent year-on-year % change)
Profit attributable toOperating profit
Ordinary profit
owners of parent

Revenue
Mil.YenQ1 FY2024
Q1 FY2023(*) Comprehensive profit%

Mil.Yen

%

4,496
37.6
485
71.9
3,267
52.6
282
34.5
Q1 FY2024 302Mil.Yen ( 73.7%)
Basic earnings per
share

Mil.YenMil.Yen

％

%

483
71.0
290
70.5
282
34.3
170
22.6
Q1 FY2023 174Mil.Yen ( 26.2%)

Diluted earnings per
share

Yen

Yen

Q1 FY2024
35.05
34.92
Q1 FY2023
20.67
20.49
(Note) The Company conducted a 2-for-1 stock split for common stock on January 17, 2023. The effect of the stock split has
been reflected in the calculation of basic earnings per share for the fiscal year ending September 30, 2023 (forecast).

(2)Consolidated Financial Position
Total assets
Q1 FY2024
FY2023(Note) Equity Capital

Q1 FY2024

Total equity

Equity ratio

Mil.YenMil.Yen

10,376
9,262
4,821Mil.Yen

5,036
5,115
FY2023

%

46.5
53.0
4,913Mil.Yen

2．Dividends
End of Q1

End of Q2

Yen

Annual Dividend
End of Q3

Yen

Year-end

Total

Yen

Yen

Yen

FY20230.00－－
FY2024－FY2024 (forecast)
0.00－(Note) Revision to the most recently released dividend forecast ： No

46.00

46.00

52.00

52.00

3．Consolidated Financial Forecast for the Fiscal Year Ending September 2024
(October 1, 2023 to September 30, 2024)(Percentages represent quarter-on-quarter / year-on-year % change)
Profit attributable to Basic earnings
Operating profit
Ordinary profit
owners of parent
per share

Revenue
Mil.Yen%Mil.Yen%Mil.YenQ2 FY2024
9,208 26.7
740 16.4
731(Cumulative)
FY2024
19,200 20.7
1,410 25.9
1,392
(Full year)(Note) Revision to the most recently released financial forecast :No%

Mil.Yen

%

Yen

15.3

472

19.7

56.96

24.9

859

15.1

103.67

Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purpose. In the event ofany discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Notes:(1) Changes of important subsidiaries during the period: No(change of specific subsidiaries that leads to a change in the scope of consolidation)
Number of new subsidiaries- (Name ); Number of excluded subsidiaries: - (Name )(2) Adoption if the accounting method peculiar to quarterly financial statements: No(3) Changes in the accounting policy / changes in the accounting estimation[1] Changes in accounting policy required by accounting criteria : No
[2] Changes in accounting policy other than [1]: No[3] Changes in accounting estimations: No[4] Restatement of prior period financial statements: No(4) Number of shares issued (common stock)[1] Number of shares issued at the end of the term(including treasury stock)

Q1 FY2024

8,305,340 FY2023

8,305,340[2] Number of treasury shares at the end of the term

Q1 FY2024

19,188 FY2023

19,188[3] Average number of shares during the term

Q1 FY2024

8,286,152 Q1 FY2023

8,241,838(Notes) 1. The number of treasury shares at the end of the term includes the Company’s shares held by Board Benefit
Trust (BBT and J-ESOP) (FY2023: 18,800 shares, Q1 FY2024: 18,800 shares)
2. The company conducted a 2-for-1 stock split for common stock on January 17, 2023.As a result, the numberof shares issued (common stock) is calculated on the assumption that the stock split was conducted at the
beginning of the fiscal year ended September 30, 2022**

Quarterly financial statements are not subject the review by certified public accountants or financial
statement auditors.
Explanation of the appropriate use of forecasts and other special notes
The forward-looking statements, including business results forecasts, contained in this document are based on
information available to the company at the time of preparation and on certain assumptions deemed reasonable by
the company. Forward-looking statements are not intended as a promise of actual results by the company. Actual
results may differ materially due to a variety of factors. For more regarding assumptions related to earnings
forecasts and precautions concerning the use of earnings forecasts, see 1.Qualitative Information on Quarterly
Consolidated Financial Statements (3) Overview of consolidated earnings forecasts and other forward-looking
information on page 4 of Attached Materials.

Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purpose. In the event ofany discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Table of contents of attachments
1. Qualitative Information on Quarterly Consolidated Financial Statements……………………………..2(1) Overview of operating results…………………………………………………………………………… 2(2) Overview of financial position…………………………………………………………………………… 3(3) Overview of consolidated earnings forecasts and other forward-looking information……………..4

2. Quarterly Consolidated Financial Statements and Major Notes……………………………………….. 5(1) Quarterly consolidated balance sheet…………………………………………………………………… 5(2) Quarterly consolidated statement of income and statement of comprehensive income…………… 7(3) Notes regarding quarterly consolidated financial statements…………………………………….. 9(Notes regarding going concern assumptions)……………………………………………………. 9(Notes regarding significant changes in shareholders’ equity)………………………………………. 9(Segment Information) …………………………………………………………………………………… 9(Significant subsequent events) ………………………………………………………………………….9―1―

Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purpose. In the event ofany discrepancy between this translated document and the original Japanese document, the latter shall prevail.

1．Qualitative Information on Quarterly Consolidated Financial Statements(1) Overview of operating results
Forward-looking statements in this document reflect GMO Financial Gate Group (GMO-FG) judgements as of the endof the cumulative consolidated first quarter of the fiscal year ending September 2024.
Financial results for the cumulative consolidated first quarter of the fiscal year ending September 2024 (October 1,
2023 to December 31, 2023) are as follows.
(Unit: Thousand Yen)

RevenueThree months ended

Three months ended

December 31, 2022

December 31, 2023

YoY Change(October 1, 2022 to(October 1, 2023 to(%)

December 31, 2022)

December 31, 2023)

3,267,719

4,496,898

37.6

Operating profit

282,777

485,998

71.9

Ordinary profit

282,444

483,09871.0

170,388

290,453

70.5

Profit attributable toowners of parent
a. Revenue

Revenue at GMO-FG reached ¥4,496,898 thousand (up 37.6% YoY).
During the three months ended December 31, 2023, the Gross Merchandise Value (GMV) increased in a numberof member merchants’ sectors using the Company’s cashless payment platform thanks to an increase in
consumption associated with the year-end sales campaign and a steady increase in the number of active terminals
which we emphasize. The number of travelers visiting Japan has also continued to increase during the period, anddemand from inbound tourists appeared to have contributed to a certain extent. As a result, the number of payments
processed and GMV, our KPIs, showed strong growth.
The next-generation payment terminal Stera continued to make a large contribution to sales of payment terminals
which account for most of initial sales. While purchasers of payment terminals are dispersed across industries andcustomers, stable sales of payment terminals has been achieved against the backdrop of an expansion of inboundtourism demand resulting in strong demand for cashless payments in the hotel and travel industry as well as SMEs
in the restaurant industry. In terms of large projects, we are steadily acquiring member merchants through verticalexpansion which we are focusing on by accommodating diversifying merchant needs such as by developing andintroducing functions to allow payment with points issued by member merchants and to grant such points,
introducing self-checkout registers for labor-saving and unattended operation, and sharing cashless payment salesdata, which is contributing to growth of initial sales.
Recurring-model revenue, consisting of stock, fee and spread revenues, also showed solid growth due to increased
initial sales and a steady increase in the number of active terminals. Especially because the three months ended
December 31, 2023 includes the peak season with year-end sales campaign, the number of active terminals andpayments processed and GMV showed strong growth.
Revenue by business model for the three months ended December 31, 2023 is as follows. Recurring-model
revenue consists of stock, fee and spread revenues, and figures in parenthesis represent a breakdown ofrecurring-model revenue.

―2―

Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purpose. In the event ofany discrepancy between this translated document and the original Japanese document, the latter shall prevail.

(Unit: Thousand Yen)
Three months ended
December 31, 2022
(October 1, 2022 to
December 31, 2022)

Three months ended
December 31, 2023
(October 1, 2023 to
December 31, 2023)

YoY Change(%)

Initial2,220,189

2,915,353

31.3

Recurring-model

1,047,530

1,581,544

51.0

Stock

(259,777)(387,466)(49.2)

Fee(519,736)(853,147)(64.1)

Spread(268,016)(340,930)(27.2)

3,267,719

4,496,898

37.6

Total
b. Operating profit

Operating profit reached ¥485,998 thousand (up 71.9% YoY).
In addition to sales growth, gross profit margin largely improved as the revenue composition ratio of high-margin
recurring-model revenue increased. As a result, we were able to achieve a significant growth in operating profit
despite an increase in selling, general and administrative expenses associated mainly with the implementation of
aggressive management measures. We have also made steady progress toward the half- and full-year operating
profit plan.
c. Profit attributable to owners of parent
Profit attributable to owners of parent reached ¥290,453 thousand (up 70.5% YoY).

(2) Overview of financial position(Assets)
As of December 31, 2023, current assets increased ¥1,025,361 thousand from the previous fiscal year to¥8,530,570 thousand. This was mainly because merchandise increased ¥681,014 thousand as payment terminal
inventory increased to a certain level based on the sales forecast and trade accounts receivable increased¥406,310 thousand due to strong sales of payment terminals while cash and cash equivalents decreased ¥117,841
thousand. Non-current assets increased ¥89,239 thousand from September 30, 2023 to ¥1,846,270 thousand
mainly due to increases in software in progress of ¥104,117 thousand and in investment securities of ¥99,994
thousand despite a decrease in deferred tax assets of ¥120,584 thousand.
As a result, total assets increased ¥1,114,600 thousand from September 30, 2023 to ¥10,376,841 thousand.
(Liabilities)
As of December 31, 2023, current liabilities increased ¥692,645 thousand from the previous fiscal year to¥3,297,503 thousand. This was mainly because account payable increased ¥835,993 thousand. Non-current
liabilities increased ¥501,305 thousand from September 30, 2023 to ¥2,042,893 thousand mainly due to anincrease in long term borrowing of ¥500,000 thousand.
As a result, total liabilities increased ¥1,193,951 thousand from September 30, 2023 to ¥5,340,396 thousand.
(Net assets)
As of December 31, 2023, total net assets decreased ¥79,350 thousand from the previous fiscal year to ¥5,036,444
thousand. This was mainly because retained earnings decreased ¥382,027 thousand due to distribution of dividend
from surplus while retained earnings increased ¥290,453 thousand due to recording of profit attributable to ownersof parent.

―3―

Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purpose. In the event ofany discrepancy between this translated document and the original Japanese document, the latter shall prevail.

(3) Overview of consolidated financial forecast and other forward-looking information
There is no change in the consolidated financial forecast for the fiscal year ending September 30, 2024 from thosepreviously released on November 13, 2023 at this point. In the offline cashless payment market in which the Group
operates, the number of member merchants adopting the cashless payment is on the rise due to government-led
promotion and diversifying payment methods as well as an increase in the number of travelers visiting Japan. Under
such environment, the group aims to focus on sales of payment terminals meeting the needs of member merchants,
enhancement of payment processing centers, and acquisitions of new member merchants and alliance partners tocontinue medium and long-term growth in revenue and operating profit. Consolidated financial forecast for the fiscal
year ending September 30, 2024 is revenue of ¥19,200 million (up 20.7% YoY), operating profit of ¥1,410 million (up25.9% YoY), ordinary profit of ¥1,392 million (up 24.9% YoY) and profit attributable to owners of parent of ¥859 million(up 15.1% YoY).

―4―

Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purpose. In the event ofany discrepancy between this translated document and the original Japanese document, the latter shall prevail.

1. Quarterly Consolidated Financial Statements and Major Notes(1) Quarterly consolidated balance sheet
End of previous consolidated
fiscal year
(September 30, 2023)(Unit: Thousand yen)
End of Q1 of current
consolidated fiscal year
(December 31, 2023)

4,015,682
920,725

3,897,840
1,327,036

2,396,179
181,151

3,077,193
238,115△8,529△9,614

7,505,209

8,530,570

84,575

81,485

1,062,072

1,093,743

Software in progress
Customer-related assets

117,035
42,810221,152
32,108Goodwill
Other intangible fixed assets

133,31560

122,20560

Total intangible fixed assets

1,355,293

1,469,270
99,994

Lease deposits
Bankruptcy rehabilitation claims－
47,033
1,043

Deferred tax assets
Other investments and other237,641
32,486

117,056
31,621

Allowance for doubtful accounts△1,043△1,056

AssetsCurrent assets
Cash and cash equivalents
Trade accounts receivable
Merchandise
Other financial assets
Allowance of doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible fixed assets
SoftwareInvestments and other assets
Investment securities

Total investments and other assets
Total non-current assets
Total assets―5―46,841
1,056

317,161

295,514

1,757,031

1,846,270

9,262,240

10,376,841

Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purpose. In the event ofany discrepancy between this translated document and the original Japanese document, the latter shall prevail.

End of previous consolidated
fiscal year
(September 30, 2023)(Unit: Thousand yen)
End of Q1 of current
consolidated fiscal year
(December 31, 2023)

1,075,275
201,123

1,911,269
73,664Contract liabilities
Deposits received

89,224
375,741

190,904
595,827

Allowance for employees’ bonuses
Allowance for directors’ bonuses

392,760
107,576

109,747
49,000

Other current liabilities

363,157

367,091

Total current liabilities

2,604,857

3,297,503

1,500,000

2,000,000

4,524

6,112

23,954
13,10826,9499,831

1,541,587

2,042,893

4,146,445

5,340,396

Shareholders’ equity
Capital stock

1,629,932

1,629,932

Capital surplus
Retained earnings

1,643,043
1,764,019

1,643,043
1,672,445

Treasury stock△123,529△123,529

Total shareholders’ equity

4,913,464

4,821,890

Liabilities
Current liabilities
Account payable
Income taxes payableNon-current liabilities
Long term borrowing
Provision for employee stock ownership plantrust
Provision for management board benefit trust
Deferred tax liabilities
Total non-current liabilities
Total liabilities
Net assets

Non-controlling interests
Total net assets
Total liabilities and net assets―6―

202,330

214,553

5,115,795

5,036,444

9,262,240

10,376,841

Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purpose. In the event ofany discrepancy between this translated document and the original Japanese document, the latter shall prevail.

(2) Quarterly consolidated statement of income and statement of comprehensive income
Quarterly consolidated statement of income(Q1 cumulative)
Q1 FY2023(October 1, 2022 to
December 31, 2022)
3,267,719
2,424,177(Unit: Thousand yen)
Q1 FY2024(October 1, 2023 to
December 31, 2023)
4,496,898
3,225,866

Gross profit

843,542

1,271,031

Selling, general and administrative expense

560,764

785,032

Operating profit

282,777

485,998

2

3

Revenue
Cost of goods sold

Non-operating income
Interest income
Other non-operating income

011

Total non-operating income

314Interest expense
Other non-operating expenses

304
32

2,914

Total non-operating expenses

336

2,914

Ordinary profit

282,444

483,098

Profit before income taxes
Corporation income taxes, resident taxes, businesstaxes
Corporation income taxes deferred

282,444

483,098

44,416

63,113

63,763

117,307

Total corporation income taxes

108,179

180,421

Profit174,264

302,677

3,876

12,223

170,388

290,453

Non-operating expenses

Profit attributable to non-controlling shareholder
Profit attributable to owners of parent―7―－

Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purpose. In the event ofany discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Quarterly consolidated statement of comprehensive income(Q1 cumulative)
Q1 FY2023(October 1, 2022 to
December 31, 2022)
174,264(Unit: Thousand yen)
Q1 FY2024(October 1, 2023 to
December 31, 2023)
302,677

Comprehensive income

174,264

302,677(Breakdown)Comprehensive income attributable to owners ofparentComprehensive income attributable to noncontrolling shareholder

170,388

290,453

3,876

12,223

Profit―8―

Translation
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(3)

Notes regarding quarterly consolidated financial statements(Notes regarding going concern assumptions)Not applicable(Notes regarding significant changes in shareholders’ equity)
Not applicable(Segment information)[Segment information]
Segment information has been omitted as the GMO Financial Gate Group has only one business segment, namely theface-to-face payment processing services business, which is not material in terms of segment information disclosure.
(Significant subsequent matters)
Not applicable―9―