JAPAN SECURITIES FINANCE CO.,LTD.
Consolidated Financial Resultsfor Fiscal 2022
Name：JAPAN SECURITIES FINANCE CO.,LTD.
Listing：Tokyo Stock Exchange Prime Market
Stock code number：8511
Address：1－2－10, Nihonbashi Kayaba－cho, Chuo－ku, Tokyo, Japan 103－0025
Phone：＋81－3－3666－3184(Millions of yen, rounded down to nearest million)

1.Consolidated Financial Results for Fiscal 2022 (April 1,2022－March 31,2023)(1)Consolidated Results of Operations(% change from previous year)

Operating Revenues

Operating Income

Recurring Income

Net Income(millions of Yen)(％ change)(millions of Yen)(％ change)(millions of Yen)(％ change)(millions of Yen)(％ change)

Fiscal 2022

42,518

41.1

6,354

1.9

7,601

6.1

5,966

15.3

Fiscal 2021

30,138

△2.5

6,235

30.5

7,164

28.9

5,174

30.3

Reference: Comprehensive Income: Fiscal2022: ¥3,491million(△55.7%)
Net Income per ShareEPSNet Income per Share(Yen)(Yen) (fully diluted)

Fiscal 2022

67.76

－

Fiscal 2021

56.61－

Fiscal2021: ¥7,889million(△24.9%)

Return on Equity

Recurring Income／Total Assets(％)

Operating Income／Operating Revenues(％)

ROEROA

4.40.1

14.9

3.8

0.1

20.7

Equity Ratio

Net Assets per Share(％)(2)Consolidated Financial Position
Total Assets

Net Assets(Millions of Yen)

(Millions of Yen)

(％)

(Yen)

Fiscal 2022

14,056,217

135,7281.0

1,574.64

Fiscal 2021

14,168,656

137,996

1.0

1,545.03

Reference: Shareholders Equity: Fiscal2022: ¥135,728million (Fiscal2021: ¥137,996million)12. Dividends

(Yen)

(Yen)

(Yen)

Total Cash
Dividends(Full-year)(Millions of Yen)

Fiscal 2021

15.00

15.00

30.00

2,749

53.0

2.0

Fiscal 2022

16.00

16.0032.00

2,825

47.2

2.1

Fiscal 2023
(Forecast)

17.00

17.00

34.00

Dividends per Share
InterimYear-End
AnnualDividends
Payout Ratio(Consolidated)

Dividends onEquity(Consolidated)(％)

DOE (％)

47.1

The year-end dividend for the fiscal year ended March 31, 2023 will be approvedat the Board of Directors meeting held in May.
3. Consolidated Estimated Figures for fiscal 2023(April 1,2023－March 31,2024)
Operating Income

Full-year

Recurring Income

Net Income

Net Income per Share(Millions of yen)(% change)(Millions of yen)(% change)(Millions of yen)(% change)

7,500

18.0

8,500

11.8

6,100

2.2

EPS(Yen)

72.15

4. Others(1) Changes in the scope of important consolidation for subsidiaries (yes/no): No(2) Changes in accounting policies and changes or restatement of accounting estimates①Changes in accounting policies caused by revision of accounting standards: Yes②Changes in accounting policies other than ①: No③Changes in accounting estimates: No④Restatement: No(3) Number of Issued Shares (common stock)①Number of issued shares (Including treasury stock)
as of Mar.31, 2023 : 96,000,000 as of Mar.31, 2022 : 96,000,000Note) On April. 20, 2023, 8,000,000 shares of treasury stock (common stock) werecancelled (Resolution of the Board of Directors on March 20, 2023). The number ofshares outstanding after this cancellation will be 88,000,000 shares.
②Number of Treasury stocks
as of Mar.31, 2023 : 9,803,815 as of Mar.31, 2022 : 6,683,572③Average number of sharesFiscal 2022 : 88,051,380 Fiscal 2021 : 91,401,267

2

Consolidated Balance Sheets【Assets】

Fiscal 2021

Fiscal 2022

Mar.31,2022

Mar.31,2023(millions of yen)(millions of yen)Ⅰ Current Assets

13,083,009

13,261,853

Cash

1,299,070

1,598,274--Short-term Investments

109,724

71,013Operating Loans

891,485

955,550

Receivables under resale agreements

3,928,146

3,561,406

Collateral Money for Securities Borrowed

6,499,422

6,669,821

355,293405,951

△ 133

△ 165

Call Loans

Other Current Assets
Allowance for Doubtful Receivables
Ⅱ Non-current Assets

1,085,646

794,364

Investments in Securities

1,042,496

745,621

Other Non-current Assets

43,24548,824△ 95△ 81

Allowance for Doubtful Receivables

14,168,656

Total Assets

314,056,217

【Liabilities and Net Assets】

Fiscal 2021

Fiscal 2022

Mar.31,2022

Mar.31,2023(millions of yen)(millions of yen)

Ⅰ Current Liabilities

14,015,456

13,682,448

Call Money

1,858,400

2,190,400

Short-term Borrowings

239,21092,010Commercial Paper

496,000

451,000

Payables under repurchase agreements

5,544,898

4,781,801

Collateral Money for Securities Lent

4,706,496

5,073,776

Borrowed Money from Trust Account1,031,412

871,335

Other Current Liabilities

139,040

222,126

Ⅱ Non-current Liabilities

15,202

238,040

Long-term Borrowings

4,000

232,700

Deferred Tax Liabilities

3,011

2,196

Derivatives Liabilities

7,054

2,013

Other Non-current Liabilities

1,137

1,131

14,030,659

13,920,489

129,719

129,925

Ⅱ Accumulated Other Comprehensive Income

8,277

5,802

Net Unrealized Gain on Other Securities

9,920△ 4,300

Total Liabilities
Ⅰ Shareholders' Equity△ 1,967

Deferred Losses on Hedges
Others

9,782

324

320

Total Net Assets

137,996

135,728

Total Liabilities and Net Assets

14,168,656

14,056,217

4Consolidated Statement of Income
Fiscal 2021

Fiscal 2022

Apr.1,2021 Mar.31,2022

Apr.1,2022 Mar.31,2023(millions of yen)(millions of yen)

Operating Revenues

30,13842,518Interest on Loans

2,708

2,486

Interest on Receivables under Resale Agreements

5,714

10,683

Interest on Collateral Money for Securities Borrowed

2,250

2,553

Fees on Lending Securities

9,457

12,844

Other Operating Revenues

10,006

13,949Operating Expenses

16,53328,765747

1,033Interest on Payables under Repurchase Agreements

3,614

6,015

Fees on Borrowing Securities

9,357

13,456

Other Operating Expenses

2,814

8,258

Operating Profit

13,604

13,753General and Administrative Expenses

7,368

7,398

Operating Income

6,235

6,354

Non-operating Revenues

959

1,257

Non-operating Expenses

29107,164

7,601

Extraordinary Profit

40671

Extraordinary Loss58

－

7,147

8,273

Current Income Taxes

2,071

1,965

Deferred Income Taxes△ 98340

Interest on Borrowing & Commercial Paper

Recurring Income

Net Income before Income Taxes

5,174

Net Income

55,966

Business Information for Consolidated Operating Revenues
Fiscal 2021
Apr.1,2021 Mar.31,2022(millions of yen)

Fiscal 2022
Apr.1,2022 Mar.31,2023(% ratio) (millions of yen)

Increase/Decrease(% ratio) (millions of yen) (% I/Dratio)

Securities Finance Business

26,55888.1

38,59490.8+ 12,036+ 45.3

Loans for Margin Transactions

6,118

20.3

8,003

18.8+ 1,885+ 30.8(Interest on Loans)

1,793

5.9

1,619

3.8

446

1.5

565

1.3

△ 174+ 118△ 9.7+ 26.6

2,832

9.4

4,711

11.1

+ 1,878+ 66.3(Lending Fees)

748

2.5

808

1.9+ 59+ 8.0

Securities Financing

15,36851.0

21,95251.6+ 6,584+ 42.8

156

0.5

149

0.4

(Loans to Securites Companies)

1,196

4.0

1,529

3.6

△7+ 333△ 4.6+ 27.8

(Loans to Individual Investors orFirms)

510

1.7544

1.3+ 33+ 6.6(General Stock Lending)

657

2.2

799

1.9+ 141+ 21.6

12,84642.6

18,92944.5+ 6,082+ 47.3

Other Business

5,071

16.8

8,638

20.3+ 3,567+ 70.3

Trust Banking Business

2,737

9.1

3,115

7.3

+ 377

+ 13.8(Interest on Loans)

91

0.3

320.1

(Trust Charges)

1,266

4.2

1,347

3.2

△ 58+ 81

△ 64.2(Others)

1,380

4.6

1,734

4.1+ 354+ 25.7841

2.88081.930,138100.0

42,518

100.0

△ 33

△ 4.0

(Interest on Collateral Money ofSecurities Borrowed)(Premium Charges)(Loans for Negotiable MarginTransactions)(Bond Lending)Real Estate Management BusinessTotal+ 12,380+ 6.4+ 41.1

Outstanding Balance of Transactions by Group Business (Average Balance)
Fiscal 2021
Apr.1,2021 Mar.31,2022

Fiscal 2022
Apr.1,2022 Mar.31,2023

Increase/Decrease(billions of yen)(billions of yen)(billions of yen)

Loans for Margin Transactions

283.1

254.7

Securities Lent for Margin Transactions

175.5

188.9

△ 28.4

9,969.711,473.9+ 1,504.2

Loans for Negotiable MarginTransactions

21.5

18.8

Loans to Securites Companies

585.9

697.7

△ 2.6+ 111.8

Loans to Individual Investors or Firms

14.9

16.7

+ 1.7

General Stock Lending

47.5

63.3

+ 15.89,299.7

10,677.2+ 1,377.4

682.4

539.9

△ 142.5

Securities Financing

Bond Lending(Repo/Gensaki Transactions ,etc)
Trust Bank Loans

6+ 13.3