FY2023 2Q
Consolidated
Financial Results
Financial results briefing materials

Supplementary
document

INV Inc.

Copyright© INV Inc. All Rights ReservedConsolidated
Financial Results

Half yearly
Summary

Copyright© INV Inc. All Rights Reserved1

Half-year: Consolidated Results Summary YOY
Operating revenue increased due to brisk foreign exchange markets both domestically and overseas,
but the profit decreased due to a fund management gain of 344 million yen recorded in the same
period of the previous year, which turned into a loss of 106 million yen in the current period.
FY2022

FY2023YOY

１-2Q(2021.4-9)

１-2Q(2022.4-9)

Increase/Decrease
Ratio

Unit : millions of yen

Operating revenue

2,196

2,825＋28.6％

Net Operating revenue

2,156

2,672＋24.0％

Operating income

200192(3.9)％

Ordinary income

538

61(88.6) ％Net income

348

13(96.2) ％Copyright© INV Inc. All Rights Reserved2Half-year: Operating revenue Breakdown YOY basis
Trading revenues and commissions received increased due to active foreign exchange markets,
while financial revenues increased due to the impact of higher interest rates in the U.S.

2,825

Unit : millions of yen

231

2,196

226

223
54557

Other operating revenue
YOY +3.5%

Financial revenue
YOY +318.6%

422

Commission received
YOY ＋32.1%
1,809
1,496

Net trading income
YOY ＋20.9%

Copyright© INV Inc. All Rights Reserved

half

half

FY2022

FY20233

Half-year: Operating expenses Breakdown YOY basis
Increased personnel expenses due to the expansion of overseas business, and increased
advertising expenses due to aggressive advertising for the new AI trading service "MAiMATE".
2,479

Unit : millions of yen1,955
203
74176

207
111

Other expenses
YOY ＋2.0%

Depreciation

301

YOY +50.3%

347

Marketing cost
YOY +71.1%

282
568

Trading related expenses
YOY ＋23.1%

435

Equipment costs
784

943

YOY +30.7%

Personnel expenses
YOY ＋20.3%

Copyright© INV Inc. All Rights Reserved

half

half

FY2022

FY2023

4

Consolidated Operating revenue Quarterly results
1,553

Unit : millions of yen

116
54

1,088
85
25
214

1,069

1,120
129

97
10
162

1,101

86

123
57

219

209

1,177
1,019
107
16240

115
37

1,408

1,423

1,402

13410812299250

101

124

282

275

200

Other operating
revenue
Financial revenue

222

Commission received

1,143
762

799

１Ｑ

２Ｑ
FY2021

Copyright© INV Inc. All Rights Reserved

824

685

709

672

３Ｑ

４Ｑ

１Ｑ

２Ｑ

３Ｑ
FY2022

924

929

879

４Ｑ

１Ｑ

２Ｑ

Net trading income

FY2023

5

Consolidated Operating expenses Quarterly results
Unit : millions of yen

1,017
80
63
109
144

1,074

991

74
46

964

991

187

95
45
102

75
47
86

100
36
95

128

125

141

144

1,197

1,209

1,045

96
56

10156

133

124

130

37
72

172

167

963
102
3780

256

313

277

218

106
54
170
179Other expenses

156

137

269
300

1,269

288

280

Marketing costs

241

216

Depreciation
Trading related expenses
Equipment costs

319

324

365

335

１Ｑ

２Ｑ

３Ｑ

４Ｑ

FY2021

Copyright© INV Inc. All Rights Reserved

396

388

402

１Ｑ

２Ｑ

３Ｑ
FY2022

477

473

470

４Ｑ

１Ｑ

２Ｑ

Personnel expenses

FY2023

6

Consolidated total amount of guarantee deposits received
Amount of guarantee deposits received is96.94billion yen

96.9
Billion yen

Unit : millions of yen

91,02581,513

78,21273,30871,491

1Q

2Q

3Q

FY2018

4Q

1Q

2Q

3Q

FY2019

4Q

1Q

2Q

3Q

FY2020

4Q

1Q

2Q

3Q

FY2021

4Q

1Q

2Q

3Q

FY20224Q

1Q

2Q

FY2023Since trading volume changes with market volatility, the amount of deposited margin , which is the "source of revenue" and "proof of customer
trust," is an important indicator.
Copyright© INV Inc. All Rights Reserved

7Half-year: Financial summary by segment YOY basis

FY2022

FY2023YOY

1Q to２Q(2021.4-9)

1Q to ２Q(2022.4-9)

Increase/Decrease
Ratio

Unit : millions of yen

Domestic
FinancialBusiness

Overseas
FinancialBusinessCopyright© INV Inc. All Rights ReservedNet
operatingrevenue

1,375

1,589

＋15.6％

Operatingincome10384(17.9)%

Netoperating
revenue825

1,183＋43.3％

Operatingincome119187+56.6％

8

2nd Quarter
Consolidated
Financial Results
Summary

Copyright© INV Inc. All Rights Reserved

9

2nd Quarter : Consolidated Results Summary Year over year basis
Operating revenue increased, but income decreased due to strengthened advertising in the domestic
financial business and a 43 million yen loss from fund management gains recorded in the same periodof the previous year, which turned into an investment loss.
FY 2022

FY2023YOY２Q(2021.7-9)

２Q(2022.7-9)

Increase/Decrease
Ratio

Unit : millions of yen

Operating revenue

1,177

1,402＋19.1％

Net Operating revenue

1,148

1,350

＋17.6％

Operating income

18480(56.6)％

Ordinary income

24520(91.7)％

Net income1552(98.7)％

Copyright© INV Inc. All Rights Reserved

10

2nd Quarter: Operating revenue Breakdown YOY basis
Unit : millions of yen

1,402

1,177
115
37122
124

275

200

Other operating revenue
YOY +6.0%

Financial revenue
YOY +232.5%
824879Commission received
YOY ＋37.4%

Net trading income
YOY ＋6.8%

Copyright© INV Inc. All Rights Reserved

２Ｑ

２Ｑ

FY2022

FY202311

2nd Quarter: Operating expenses Breakdown YOY basis
Unit : millions of yen

1,269
106
54963
102
3780
137

Other expenses
YOY ＋3.3%

170

Depreciation
179

YOY +44.4%

Marketing cost
288

216

YOY +112.3%

Trading related expenses
YOY ＋30.7%

388

Copyright© INV Inc. All Rights Reserved

470

Equipment costs
YOY +32.9%

２Ｑ

２Ｑ

FY2022

FY2023

Personnel expenses
YOY ＋21.2%

12

2nd Quarter: Consolidated Financial results Quarter Over Quarter Basis

FY 2023

FY 2023

QoQ

１Q(4-6 2022)

２Q(7-9 2022)

Increase/Decrease
Ratio

Unit : millions of yen

Operating revenue

1,423

1,402(1.5)％

Net operating revenue

1,322

1,350＋2.1％

Operating income

11280(28.6)％

Ordinary income

4120(50.9)％

Net income

112(81.7)％

Copyright© INV Inc. All Rights Reserved

132nd Quarter: Consolidated Financial results Quarter Over Quarter Basis
Unit : millions of yen

1,423

1,402108

122101282124275

Other operating revenue
QOQ ＋12.4%

Financial revenue
QOQ +22.7%

Commission received
929879QOQ (2.6)%

Net trading income
QOQ (5.4)%

Copyright© INV Inc. All Rights Reserved

１Ｑ

２Ｑ

FY2023

FY202314

2nd Quarter: Operating expenses Breakdown QOQ basis
Unit : millions of yen

1,209
101
56
1301671,269
10654170
179

Other expenses
QOQ (4.9)%

Depreciation
QOQ (4.3)%

Marketing cost
280

288

QOQ +30.8%

Trading related expenses
QOQ +7.5%

Equipment costs
473

470

QOQ +2.6%

Personnel expenses
QOQ (0.5)%

Copyright© INV Inc. All Rights Reserved

１Ｑ

２Ｑ

FY2023

FY202315

Domestic
Financial business2nd Quarter
Highlights
Segment Information

Copyright© INV Inc. All Rights Reserved

16

Domestic financial business segment

Financial summary by segment YOY basis
The domestic financial business posted higher revenues due to increased demand for
FX trading in Japan, reflecting the impact of the weaker yen. Operating profit declined
mainly due to aggressive advertising efforts (up 84 million yen YoY) to expand
awareness of MAiMATE and to attract users.
FY 2022

FY 2023YOY２Q(2021.7-9)

２Q(2022.7-9)

Increase/Decrease
Ratio

Unit : millions of yen

DomesticFinancialBusiness

Copyright© INV Inc. All Rights Reserved

Netoperating
revenue

748

763＋2.1％

Operatingexpenses

610761＋24.7％

Operatingincome1372(98.2)%

17

Domestic financial business segment

Net operating revenue breakdown by segment YOY basis
Unit : millions of yen

763
748
36967
168

111

Other financial expenses
Intersegment eliminations

572626

Other operating revenue
YOY (2.4)%
Commission received
YOY +51.1%-9Copyright© INV Inc. All Rights Reserved-62-37２Q

２Q

FY2022

FY2023

Net trading revenue
YOY +9.4%

18

Domestic financial business segment

Operating expenses breakdown by segment YOY basis
Unit : millions of yen

761
77

610

36

Other expenses
YOY (3.7)%

80

157

2573

74

YOY +44.4%

Marketing cost67
152

Depreciation

191

YOY +116.1%

Trading related expenses
YOY ＋10.9%

211

222

２Q

２Q

FY2022

FY2023Equipment costs
YOY +25.8%

Personnel expenses

Copyright© INV Inc. All Rights Reserved

YOY ＋5.4%

19

Domestic financial business segment

Quarterly net operating revenue and operating income
Net operating revenue

Operating income

1,589 million yen YOY +15.6%

84million yen YOY (17.9)%

Unit : millions of yen

Unit : millions of yen

3,118
454

First quarter
Second quarter

768

Third quarter
Fourth quarter
975

1,589

352

763

84748
137
627

825

FY

FY

2022

2023

Copyright© INV Inc. All Rights Reserved282-34-1
FY

FY

2022

2023

20Domestic financial business segment

Net operating revenue and operating income quarterly results
Unit : millions of yen

975
825

771

765

700

768

748

735

763

627

Net operating revenue
Operating income

352

137
102

２Q

３Q

FY2021

Copyright© INV Inc. All Rights Reserved-1-34-54
１Q

82

65

48

４Q

１Q

２Q

３Q

FY2022４Q

１Q

２Q

FY202321

Domestic financial business segment

Amount of guarantee deposits received Quarterly results
Amount of guarantee deposits received increased by 4.1million yen to85.7 billion yen

Number of account is over 495,000 accounts
Unit : millions of yen

85,79181,60071,344

71,621

67,139FX Margin Contracts

68,703Equity Index
Margin Contracts
FX Daily Futures contracts

Number of Accounts

495,894
As of 30 September 2022

1Q

2Q

3Q

4Q

FY2018

Copyright© INV Inc. All Rights Reserved

1Q

2Q

3Q

FY2019

4Q

1Q

2Q

3Q

FY2020

4Q

1Q

2Q

3Q

FY2021

4Q

1Q

2Q

3Q

FY20224Q

1Q

2Q

FY202322

Overseas
Financial business2nd Quarter
Highlights
Segment Information

Copyright© INV Inc. All Rights Reserved

23

Overseas financial business segment

Financial summary by segment YOY basis
Overseas finance business posted higher revenues and profits due to increasedtransaction volume resulting from active markets, especially in foreign exchange andcommodities, and the expansion of the customer network, mainly through the local
subsidiary in the Republic of Cyprus, which was established last year.
FY 2022

FY 2023YOY

２Q(2021.7-9)

２Q(2022.7-9)

Increase/Decrease
Ratio

Unit : millions of yen

Overseas
FinancialBusiness

Copyright© INV Inc. All Rights ReservedNet
operatingrevenue415

596＋43.5％

Operatingexpenses368

518＋40.8%

Operatingincome47

77+64.5％

24Overseas financial business segment

Net operating revenue breakdown by segment YOY basis
Unit : millions of yen

5964151145471054106

Other financial expenses

88Intersegment eliminations
377
288

Other operating revenue
YOY +18.6%
Commission received
YOY +20.2%-18Net trading revenue
YOY +30.8%

Copyright© INV Inc. All Rights Reserved

２Q

２Q

FY2022

FY202325

Overseas financial business segment

Operating expenses breakdown by segment YOY basis
Unit : millions of yen

518
281712368

114

YOY ＋29.2%

Depreciation

2212785

Other expenses

YOY +44.5%
96

Marketing cost
YOY +74.9%

64

Trading related expenses
247
177

YOY ＋34.9%Equipment costs
YOY +49.8%

Copyright© INV Inc. All Rights Reserved

２Q

２Q

FY2022

FY2023

Personnel expenses
YOY ＋40.1%

26

Overseas financial business segment

Quarterly net operating revenue and operating income
Net operating revenue

Operating income

1,183 million yen YOY +43.3%

187million yen YOY ＋56.6%
Unit : millions of yen

Unit : millions of yen

351

1,928

First quarter
Second quarter
118

558

Third quarter
Fourth quarter

1,183544

187
113
77596
47415

409

586

FYFY

2022

2023

Copyright© INV Inc. All Rights Reserved

72

109FYFY

2022

2023

27

Overseas financial business segment

Net operating revenue and operating income quarterly results
Unit : millions of yen

596

586
558

544

415

409

Net operating revenue
Operating income

348
321

317

302

113
72
4243

109
77

47

167
１Q

118

２Q

３Q

FY2021

Copyright© INV Inc. All Rights Reserved

４Q

１Q

２Q

３Q

FY2022４Q

１Q

２Q

FY202328

Overseas financial business segment

Amount of guarantee deposits received Quarterly results
Amount of guarantee deposits received increased by +23.4% to235 million AUD

Unit : millions of AUD235218
177147

71

1Q

98

98

3Q

4Q

107

111

1Q

2Q

164

154172

184

218
200190137
119114

111

95

79

2Q

FY20183Q

FY2019

4Q

1Q

2Q

3Q

FY2020

4Q

1Q

2Q

3Q

FY2021

4Q

1Q

2Q

3Q

FY20224Q

1Q

2Q

FY2023The second quarter as of June 30, 2022.

Copyright© INV Inc. All Rights Reserved

29

ROE
Shareholder
returnCopyright© INV Inc. All Rights Reserved30Return on equity（ROE)

DONE

Return on Equity of 2nd Quarter of FY2023 is

0.2%
7.4%

7.2%

7.2%

6.4%

1.3%
0.3%
１Q

２Q

３Q
FY20210.6%

４Q

１Q

２Q

３Q
FY2022

４Q

0.4%

0.2%

１Q

２Q
FY2023

Quarterly ROE is calculated by annualizing the average value of quarterly net income.

Copyright© INV Inc. All Rights Reserved31

Shareholder returns

DONE

38 yen of dividends per share is planned for the first quarter of FY 2023
Dividend results and dividend forecast
Dividend yield

4.6%※Dividend yield is calculated at the closing price of “810”yen on 30 September 2022

Dividend policy
INV Inc. pays semi-annual (interim and year-end) dividends under apolicy of distributing net income to our shareholders in an ongoingand stable manner as well as in line with our business performance.
The Company pays dividends at the higher of a consolidated
dividend payout ratio of 30% and a consolidated dividend on net
assets DOE of 2% annually.

Fiscal year

FY2021

FY2022

FY2023

Half period
(yen)

18.0

18.0

19.0

Year -end
(yen)

19.0

24.0

19.0

Total(yen)

37.0

42.0

38.0

60

808

217246

Payout Ratio

359.6%

30.5%

ROE

0.6%

7.2%

DOE

2.0%

2.2%

Dividend yield ※5.2%

4.6%Dividends

Net income(millions of yen)
Total dividends(millions of yen)

Dividends for the FY 2023 are forecasts and are not guaranteed.

Copyright© INV Inc. All Rights Reserved32Mission/Vision
Management
StrategyCopyright© INV Inc. All Rights Reserved

33

DONE

MissionExisting Purpose

Making the world a better place.
Our mission is to create the solutions for the people of the world to navigate the financial
obstacles in each of their life plans, and to provide the support for ambitious, aspiring
people so that even more of them can seize opportunities for prosperity.
We aim to help build a better world using finance as a means to make people happy.

VisionOur Goal

Creating financial solutions with global user base of 10 million by 2025.
Our goal is to make the world a better place by providing people all around the world withfinancial solutions that make their lives happier. We will grow into a global company with a
global customer base, which employs exceptional human resources from around the world who
fulfill their responsibilities as true professionals in order to turn our vision into reality.
As the first step in our vision, we will create financial solutions with a global user base of 10
million by 2025.

Copyright© INV Inc. All Rights Reserved34

Management Strategies to Achieve ”Vision” ~ in STAGE２ ~STAGE

12017>>>2019年

STAGEImprove profitabilityof existing businessContinue d b us ine s s g r ow thCreate new business

Investment
Period22020>>>2022年
Pursue group synergies

DONE

STAGE 2023>>>2025年

3Development
PeriodBecome a global company with10 million users worldwide

GrowthPeriod

Management Strategies (STAGE2 : From 2020 to 2022)
Domestic Financial Business: Concentrate management resources on priority businesses. (Tri-Auto, MAiMATE)

1 Continued Growth

Overseas Financial Business: Aim to become a top-class global market player in the prime brokerage market.
R&D and technology-based product and service sophistication.
Becoming a holding company structure in October 2020.

Establishment of a flexible, speedy, and agile structure for the execution of strategies such as the launch of new

2 Group Synergies

businesses Diversify business portfolio (increase ratio of investment advisory, real estate finance, etc.)
Creating synergies on a global basis (group IT management, streamlining of business processes etc.)
Execute M&A in addition to the growth of each subsidiary.

3 OtherEnhancement of corporate brand value. (IR/PR)
Recruitment of excellent people who can cope with global expansion and reinforcement of the humanresource base of the organization.

Copyright© INV Inc. All Rights Reserved

35Corporate ProfileCopyright© INV Inc. All Rights Reserved

DONE

CompanyName

INV Inc.

Head Office

1-5-6, Higashi-Nihonbashi, Chuo-ku, Tokyo, 103-0004, JapanPresident
CEOTakeshi Kawaji

Established

October 1 ,2020

Capital

500 million yenBusinessActivities

Management of group companies and new business development

ListedExchange

Tokyo Stock Exchanges Standard

Securities
Code7338

36

DONE

This document is an excerpt translation of the Japanese original prepared for reference purposes.
In the case of any discrepancy between the translation and the Japanese original , the latter shall prevail.
The information contained in this material is intended to provide information on the Group's business andis not intended as a solicitation for investment. It is not intended as a solicitation to invest.

免責事項
Disclaimer
The information contained in this document contains forward-looking statements.

Because forward-looking statements are subject to various risks and uncertainties actual results may
differ materially from those contained in or suggested by such forward-looking statements. implied bysuch forward-looking statements.

While every effort has been made to ensure the accuracy of the information contained in this document.
However, it is information that can be provided at that time, and no guarantee is made as to its completeness,accuracy, applicability, or usefulness.

The user is solely responsible for making decisions based on the information.
The Company assumes no responsibility whatsoever for any decisions made based on information.

Copyright© INV Inc. All Rights Reserved37