Annual Report 2019
Corporate Profile 2020

CO., LTD.
3-11, Nihonbashi-kabutocho, Chuo-ku, Tokyo 〒103-0026
Tel 03-3666-0011

Greetings from the President
Thank you for your continued support for our company.
In order to strengthen our relationship with our clients and business partners, we have been working on the disclosure diligently. The purpose of
publishing "Annual Report / Corporate Profile" every year is to disclose our financial results as well as our services and products to our valued
clients and partners.

Our company was founded in 1949, the same year when the Tokyo Stock Exchange reopened shortly after World War II. FY 2019 was the 70th
anniversary of our company, but the business environment was extremely challenging.
The global equity market continued to rise until mid-February 2020, although the impact of the U.S.-China trade war led to the feeble profitabilityof listed companies and high stock valuations. Then a new coronavirus (Covid-19) outbreak engulfed the entire world and it developed into apandemic. As most of the countries imposed strict restrictions on some industries as well as bans on leaving home being people grounded, asimultaneous recession occurred all around the world.
The Nikkei Stock Average, which was at 23,000 yen on February 21, 2020, plunged to 16,000 yen just after three weeks. The fear of Covid-19 has
led the worldwide capital markets into a turmoil.
In this environment, we faced a very difficult and challenging situation. Prior to Covid-19, we could not obtain good products which we would
recommend with full confidence to our clients, and our prop traders also could not make enoughprofit as the stock market was exposed to extremely high valuations and extremely low volatility.
Slightly, our company made earnings from TOB agent services and warrant trades.
However, due to the massive market volatility after Covid-19 pandemic, our equity and bondtrading business saw an unprecedented opportunity. The dealing division, which had been
struggling since the third quarter of FY2019, earned the record monthly revenue in March 2020.
The fixed income division, which had been forecasting much lower interest rates in the U.S.,
posted its highest earnings since the division was launched.
Due to the large warrant trading gains in FY 2018, profits in FY 2019 were way lower than theprevious fiscal year. However, we believe that our ordinary income of 671 million yen is a decent
result for us in this difficult environment.
Our company has been keeping in the black for 17 consecutive fiscal years through FY 2020. We
have been able to make it thanks to the support of our clients and business partners.
We have been able to continue our business for 70 years. I would like to express my gratitude forall the clients who have been supporting us all the time.
We will continue to overcome various difficulties and build a much better company for the next
milestone of the 80 years anniversary. I promise that I will do my best to achieve it.
Lastly, I would like to take this opportunity to wish you stay safe and healthy.

Kunihiro Mita
President & CEO
MITA SECURITIES Co., Ltd.

01

Financial Summary of FY2019 (Income Statement)
Commissions

Financial Revenue

The total amount of commissions was ¥312MM (118.9% YoY).
The breakdown is as follows.

The financial revenue decreased to ¥614 MM (65.8% YoY).
The financial revenue related to margin trading, interest income
from money lending, and factoring fees decreased across theboard. Especially, the large cancellation of securities-backed
loans in the previous fiscal year had a large impact to the financial
revenue.

Subscription Commission
As a result of the low volatility in the global stock market,
the track records of the hedge funds that we distributed werelackluster, and the fund sales were sluggish consequently.
We launched new funds to invest in venture capital anddomestic real estate, which supported the subscription
commissions, but it remained at ¥97 MM (139.0% YoY).
Other Fees and Commissions / Underwriting Commissions
Due to the sluggish growth of the fund AUM, the other fees andcommissions were ¥77 MM (108.6% YoY). The underwriting
commissions were ¥22 MM (233.6% YoY).

Trading Profit
Trading profit was ¥2,563 MM (91.2% YoY).
Stock Trading Profit
The profit from stock trading was ¥2,186 MM (85.1% YoY).
The negative repercussion from the large warrant trading profit
recorded in the previous fiscal year, the stock trading profits were
down year on year. Nevertheless, the revenues of the dealing
division reached a new record high for the second consecutive
year. The warrant trading gains also helped boost equity trading
profits.
Bond Trading Profit
Profits on bond trading were ¥341MM (139.5% YoY).
The trading activity was buoyed by soaring bond prices in major
developed countries. The bond trading division made a record
profit since it started and was also successful in huge fundraising
too.

（Unit: Millions of Yen）

FY2019FY2018Operating Revenue

3,706

4,369

Commissions

312

263

Brokerage

114

111

Other Operating Revenue

Underwriting/Distribution/Solicitations for sales to specified investors

22

9

The other operating revenues were ¥215 MM (59.1% YoY).
While we received the five TOB agent services (two of which we
did not carry out), the other advisory services were not as
successful as the previous year.
We could not make enough intermediation fees of real estate, which
we were very successful in the previous fiscal year, resulting in
negative YOY.

Subscription/ Distribution/ Solicitations for sales to specified investors

97

69

Others77

71

Financial Expenses

Trading profit

2,563

2,808

Financial revenue

614

932

Other operating revenue

215

364

Financial Expenses

140

270

Net Operating Income

3,566

4,098

Selling, General and Administrative Expenses

2,919

2,876

Business related expenses

368

409

2,069

1,987

Real estate related expenses

68

78

Office expenses

223

208

Depreciation expenses

35

28

Tax and dues

142

140

Selling, General and Administrative Expenses

Provision of allowance for doubtful accounts―

2

The selling, general and administrative expenses were ¥2,919
MM (101.4% YoY).
Due to the strong performance of the dealing division, thecompensation to dealers increased significantly.

Others10

21

The finance expenses totaled ¥140 MM (51.9% YoY).
The decline in the finance expenses was attributed to the lower
demand for the back financing and lower finance costs.
As a result of the above, the net operating income stood at¥3,566 MM (87.0% YoY).

As a result of the above, the operating profit was ¥646 MM(52.9% YoY), and the ordinary profit was ¥671 MM (52.4%
YoY). The income before taxes was ¥667 MM (52.3% YoY)
and the net income was ¥474 MM (47.5% YoY).

Personnel expenses

Operating Profit

646

1,221

Non-operating Income and Loss

25

59

Ordinary Profit

671

1,280

4

5

Extraordinary Loss
Provision of financial products transaction liabilities reserve

5

4

Income Before Income Taxes

1,274

667

Income taxes

136

Income taxes adjustment

55

Net Income

02

Amounts

Accounts

Annual Report

Annual Report

Brokerage Commission
Although the Nikkei Stock Average recovered to above
24,000 yen in January for the first time in 15 months, thetrading volume declined due to the lack of momentum andvolatility. The brokerage commissions were slightly up to¥114MM (102.8% YoY).

Income Statement

378
192
474

△101

276
997

03

Financial Summary of FY2019 (Balance Sheets)
Current Assets

Current Liabilities

The total current assets were ¥23,064 MM (109.3% YoY).
•Cash and deposits increased by ¥1,830 MM due to an increase indeposits from clients.
•Assets for margin transactions decreased by ¥875 MM due to adecrease in the margin balance.
•Short-term loans receivables were down to ¥583 MM due to thecontinued cancellation of large clients’ contracts.

The total current liabilities amounted to ¥17,537 MM (108.2% YoY).
•Deposits received increased by ¥1,753 MM due to an increase inclients’ deposits.
•As a result of the redemption of the subordinated bond, the short-term
debts decreased by ¥500 MM.

(unit:millions of yen)

1,600
1,400

Amounts

Accounts

Amounts

Current Liabilities

17,537

Cash and deposits

2,828

Trading products

442

Segregated cash and deposits

3,690

Trade date accrual

481

Trading products

1,622

Liabilities for margin transactions

3,242

Net Assets

Assets for margin transactions

4,821

Deposits received

3,022

The total net assets were ¥7,072 MM (102.8% YoY)
•Retained earnings increased by ¥193 MM, as we were able to
make a net profit for FY2019.

Short-term guarantee deposits

2,293

Guarantee deposits received

1,600

Short-term loans receivables

6,878

Short-term debts

7,120

As a result, the total liabilities totaled to ¥18,095 MM (111.2% YoY).

As a result, the total assets stood at ¥25,168 MM (108.7% YoY).

Change in net assets
for the past 17 fiscal years of consecutive surplus

Accounts receivable-monetary claims

770

Accounts payable-other

1,319

Other current assets

173

Income taxes payable

16

Allowance for doubtful accounts△ 14

Provision for bonuses

220

Other current liabilities

71(unit:millions of yen)

8,000

Ordinary Profit
Net Income

Fixed Assets

7,000

1,000

5,000

800

4,000

600

3,000

400

2,000

200

1,000

0

0

(unit:millions of yen)

Change in Capital Adequacy Ratio
500

200,000400

150,000

300

100,000

200

50,000100

00(Unit: %)

20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
20
17
20
18
20
19

250,000

20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
20
17
20
18
20
19

2,104

Fixed Liabilities

535

176

Subordinated bond

500

25

Other noncurrent liabilities

35

Reserves Under the Special Laws

23

Investments and other assets

1,903

Investment securities

273

23

50

20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
20
17
20
18
20
19

6,000

20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
20
17
20
18
20
19

1,200

Change in Assets Under Custody04

Accounts

Liabilities

23,064

Financial Highlights
Change in Ordinary Profit and Net Income

AssetsAnnual Report

The total fixed assets were ¥2,104 MM (102.9% YoY)
•Tangible fixed assets increased by ¥118 MM, mainly due to thepurchase of real estate in Kyoto.
•As a result of the establishment of a subsidiary (Mita Global
Finance Co., Ltd.) to provide real estate collateralized loans,investments in capital of subsidiaries and affiliates increased by¥50 MM.
•Long-term loans receivable decreased by ¥147 MM due to thepartial repayment of the loan to the debtor.

（Unit: Millions of Yen）

Current Assets

Fixed Liabilities
The total fixed liabilities were ¥535 MM (15.7 times YoY).
•Subordinated bond issuance increased the bonds by ¥500 MM.

Fixed Assets
Annual Report

Balance Sheets (For the year ended on March 31, 2020)

Investments in capital of subsidiaries

927

Long-term loans receivables

476

Deferred tax assets

111

Other investments

158

Allowance for doubtful accounts

Total Assets△ 94

25,168

Total Liabilities

18,095Net Assets
Shareholders' Equity
Capital stock

7,072
500

Retained earnings

6,818

Treasury stock△ 245

Total Net Assets

7,072

Total Liabilities and Net Assets

25,16805

Mission / Business Principles

Annual ReportCompany Executives (from June 2020)
Kunihiro Mita / President & CEO

Yuji Nakao / Board Director

1994 Graduated from the Faculty of Law at Sophia University
1994 Joined Nikko Securities (current SMBC Nikko Securities)
1998 Joined Mita Securities
2001 President & CEO of the Company

1982 Graduated from the Faculty of Economics at Saga University
1982 Joined Yamaichi Securities
1998 Joined Merrill Lynch Japan Securities(currently Bank of America Merril Lynch Securities)
2002 Joined DLJ Direct SFG Securities (currently Rakuten Securities)
2004 Joined Mizuho Securities
2008 Joined Mita Securities
2012 Executive Director of the Company

Tatehito Kadokura / Board Director

Tsukasa Nakamoto / Board Director

1991 Graduated from the Faculty of Economics at Chuo University
1991 Joined Nikko Securities (currently SMBC Nikko Securities)
2002 Joined Japan Global Securities (currently Naito Securities)
2004 Joined Mita Securities
2009 Board Director of the Company

1998 Graduated from the Faculty of Computer Science at University of California
1998 Joined Atsugi Information System
2002 Joined United World Securities
2004 Joined Societe General Securities
2005 Joined Mita Securities
2017 Board Director of the Company

Tadashi Chaki / Board Director

Shigenari Ishibashi/ Board Director

1992 Graduated from the Faculty of Commerce at Waseda University
1992 Joined Nomura Securities
2008 Joined Mita Securities
2018 Board Director of the Company

1992 Joined Aoyama Audit Corporation
1993 Graduated from the Faculty of Political Science and Economics at Meiji University
1997 Registered as a Certified Public Accountant
1998 Joined Credit Lyonnais Bank
2000 Joined Canadian Imperial Bank of Commerce (CIBC)
2003 Transferred to CIBC World Markets (Japan)
2017 Joined Mita Securities
2019 Board Director of the Company

Tatsuya Otsuki / Board Director

Kenichi Iwasa / Board Director

1991 Graduated from the Faculty of Commerce at Doshisha University
1991 Joined Fuji Bank (currently Mizuho Bank)
2000 Joined HSBC
2005 Joined Deutsche Bank
2006 Joined Capital Partners Securities
2016 Joined Mita Securities
2020 A member of the Board of Directors, Mita Securities

1976 Graduated from the Faculty of Commerce at Chuo University
1976 Joined JUSCO (currently AEON)
1987 Joined Nikko Securities (currently SMBC Nikko Securities)
1999 Joined Mita Securities
2000 A member of the Board of Directors, Mita Securities
2016 Resignation a member of the Board of Directors, Mita Securities
2020 A member of the Board of Directors, Mita Securities

Yoshinobu Fujimoto / Corporate Auditor

Yukihiro Shimizu / Corporate Auditor

1989 Graduated from the Faculty of Law at Waseda University
1991 Registered with the Second Tokyo Bar Association
1991 Joined Asahi Koma Law Office (currently Nishimura & Asahi LPC)
1995 Graduated from University of Chicago Law School (LL.M.)
1996 Registered with the NY state Bar Association
2008 Company auditor of Mita Securities(Currently he is Partner of Nishimura & Asahi LPC.)

1995 Graduated from the Faculty of Engineering at Hokkaido University
1995 Joined Hokkaido Takushoku Bank
1998 Joined IBJ Securities (currently Mizuho Securities)
2000 Joined Nikko Solomon Smith Barney (currently City Group Securities)
2005 Joined Livedoor
2006 Vice President of Livedoor
Chairman of Kazaka Securities (currently Naito Securities)
President of Kazaka Financial Group
Executive Director of Cecile
Executive Director of Media Exchange
2008 Joined Mita Securities as Executive Director
2013 Company auditor of the Company

Yoshiki Iida / Managing Director

Keisuke Tomoyori / Managing Director

2003 Graduated from the Faculty of Business at Toyo University
2003 Joined Okasan Securities
2006 Joined Japan M&A Management
2007 Joined Mita Securities

2002 Graduated from the Faculty of Economics at Musashi University
2006 Joined Nikko Cordial Securities
2009 Joined Mita Securities

Yuji Isoda / Managing Director
1990 Graduated from the Faculty of Education at Nagasaki University
1990 Joined Yamaichi Securities
2000 Joined Merrill Lynch Japan Securities
2002 Joined Maeda Securities（currently FFG Securities）
2010 Joined Iizuka nakagawa securities（currently Nakagawa Securities Advisors）
2013 Joined Capital Partners Securities
2016 Joined Mita Securities

Masahiro Fuse / Managing Director
1990 Graduated from the Faculty of Political Science and Economics at Waseda University
1990 Joined Sumitomo 3M Limited
1995 Joined Daiichi Real Estate Appraisal Co.,Ltd
2000 Joined Ikoma CB Richard Ellis
2005 Joined Secured Capital Japan(currently PAG Investment Management)
2007 Joined ING Real Estate Investment Management(currently CBRE Global Investors)
2010 Joined RPA
2011 Joined Hospitality Partners Group
2016 Joined CBRE2018 Joined Colliers International Japan
2019 Joined Mita Securities

06

SincereOur Company’s officers and employees act faithfully for our clients, business partners, laws
and ordinances, and shareholders.

Soft＆Servic

Our Company’s officers and employees provide high-value added businesses
with our original business knowhow and the best services.

Small, Slim＆Speedy

Our Company carries out speedy decision-making with our compact and lean organization.

All of the executives and employees share the concept of “ Six S ” as the fundamental principles, make the best effort to achieve
our client’s goals through the securities business, and furthermore, contribute to develop the sound Japanese economy.
Business Principles

Client Focus

Listen to our clients
We can find the best solutions eventually if we fully understand the essence of our clients’ problems.

Win-Win

Conduct businesses by which we can build a win-win relationshipwith every one of our clients, business partners, officers and employees, and shareholders
Only businesses which make every member engaged in projects happy can last longer.

Reputation

Seek businesses which enhance our reputation
Reputation can be enhanced by our efforts with a proper attitude toward businesses.

ROE

Achieve high profit by effective resource allocation
We manage our company with higher ROEs, enhance capital stock, and build a sound financial base.

Compliance

Place importance on complianceManagement focusing on compliance is required naturally within this free market in principle.

Teamwork

Set a high value on teamwork
We can provide the more appropriate business solution for our clients if our team can gain power by
respecting each other’s individuality among the team members.

Adaptability,
Creativity

Cherish adaptability and creativity
Personnel with high productivity can absorb the constantly changing trends of society and anticipate the future.

Commitment

Deal with our services with absolute responsibility
Businesses without responsibility give troubles to various people including our clients, business partners,
and his/her own team members.

Corporate Profile

Takehiro Mishiri / Managing Director
2002 Graduated from Faculty of Law, the University of Tokyo
2008 Admitted as a Attorney-at-Law in Japan
Joined Sidley Austin Nishikawa Foreign Law Joint Enterprise2009 Joined Kawashima Law Office2011 Served as Securities and Exchange Inspector,
the Kanto Local Finance Bureau of the Ministry of Finance2014 Readmitted as a Attorney-at-Law in Japan
Joined Nomura Securities Co., Ltd.
2017 Joined Morgan, Lewis & Bockius Law Offices
2019 Joined Mita Securities Co., Ltd.

Mission07

Features of Mita Securities

Main Business Achievement since April 2019

Positive net profit for 17 consecutive years█

We have been continuing to achieve a positive net profit for 17 consecutive years through the FY2019. The Lehman shock, the European debt
crisis, the Great East Japan Earthquake, and the new coronavirus (Covid-19) outbreak and other major crises continuously occurred. It wasdifficult for securities firm to keep profits in black for this long We diversified our business, such as Private Banking, Investment Banking,
Proprietary trading, Real Estate Business, Money Lending Businesses and so on. And we have a wide range of services and products.
Diversification and the adaptability to new environments are the clues to our strength.

Fiduciary Duty
We have been addressing and emphasizing the importance of the "Fiduciary Duty" since 2003 and sharing with all the staff. We believe in it
as an ultimate responsibility to be professional and faithful to our clients.
This awareness is reflected in a number of indicators.
While high turnover is often criticized as an issue from the standpoint of sales activities in securities companies and banks, our commission
turnover ratio is 0.34% per year (FY2019 results), which is well below the average in our industry.
“Commission Turnover Ratio” = (Commissions + gains on bond trading)÷Clients’ assets under custody█

We also installed an infrastructure for Direct Market Access (DMA) and launched online trading services for professional traders.

█

We established Mita Global Finance, a wholly-owned subsidiary, and began real estate secured lending business.

█

We differentiate ourselves from our competitors by creating and developing highly unique products and services. The era of pushy sales
strategy, in which securities firms forced their products to clients even though they were unwilling to purchase them, is over. We believe it isimportant to provide products and services that are truly desired for and supported by investors.
As for the development of our products and services, we try to proceed with it flexibly and quickly, and to complying with all applicable laws
and regulations thoroughly.

Venture Spirit
We value a free and open-minded culture as well as a spirit of challenge. It is essential for us to integrate the ingenuity, creativity and originalityof the professionals from various fields. Despite the company's long history of 70 years, we never forget the venture spirit.

Hiring specialists actively

We were appointed as the TOB agent by Majesty Golf Korea in connection with the tender offer for shares of Majesty Golf
Corporation (7834).

█

We were appointed as the TOB agent by Yutaka Shoji (8747) in connection with the tender offer for treasury stock.

█

We were appointed as the TOB agent by City Index Elevens in connection with the tender offer for shares of Toshiba Machine (6104).

█

We purchased warrants issued by GFA (8783).

█

We launched an original fund aiming to own the rights of a highly popular art aquarium event and to operate it.

██

Lineup of our highly unique products and services

Mita Securities Global Consulting, a wholly-owned subsidiary, was established in Singapore and commenced the consulting andother cross-border businesses.

We set up an India private equity fund to give Japanese investors an opportunity to invest in Indian venture companies with small
amounts of funds.
We launched two real estate funds under the act of Specified Joint Real Estate Ventures.

The 70th anniversary party
In July 2019, we celebrated our 70th anniversary, and held the 70th
anniversary party at the Capitol Tokyu Hotel.
A large number of clients and business partners attended the grand party.
We would like to thank everyone who came out participated in the party
and sent us flowers and or a congratulatory telegram.
The special pre-party event was a lecture given by David Atkinson, an
outside director of Mita Securities, then with a large number of attendees.
The party featured three renowned musicians who brought the party tolife with great music from different genres - jazz, classical music androck.

We employ a number of in-house specialists to ensure that we can perform highly professional work. We also actively collaborate with outside
experts. By leveraging the expertise of internal and external experts, we provide the best differentiated service to our clients.
As of March 2020, the Group has the following specialists
1 lawyer, 3 CPAs, 1 US CPA, 2 Singapore CPAs and 1 tax accountant.

Finance DivisionCorporate Auditor

Audit Division

Board of Directors

President & CEO

System Risk Committee
Compliance Committee

Human Resources & Administration Dept
Financial Reporting Dept
System Dept

Control Division
Equity Dealing Division
Investment Banking DivisionCorporate Profile

Corporate Profile

Organization Chart

Operations Dept
Compliance Dept.
Underwriting Evaluation Dept

Real Estate Division
Client Relation Division

Wealth Management Dept

Fixed Income Division

Private Banking & Wealth Solutions Dept

Equity Division

Electronic Trading Dept
Trading & Execution Dept0809

Investment Bank

Wealth Management Services
We provide comprehensive solutions to our high net worth clients with a variety of products and unique services.

Asset Management
We offer a wide range of products from traditional ones toalternative ones.
Products
Listed stocks, Options, Futures, U.S. stocks, Bonds,
Mutual funds, Hedge funds, PE funds, Real estate funds,
Original funds, Structured bonds etc.

Advisory for Inheritance Tax and Business Succession Planning
You need sufficient and comprehensive plans to pass on your valuableassets and business to your descendants. We specialize in advisory forinheritance tax and business succession planning and have a wide
range of experiences in advising clients.

Real Estate
We help our clients manage their real estate assets. We offer a wide
range of services, such as brokerage, asset management and overseas
real estate investment etc. We have a number of professionals withextensive experiences in the real estate industry.

Overseas Investment
We can help you invest in overseas assets, such as U.S. stocks,
foreign bonds, hedge funds and overseas real estate etc. Ourcurrency exchange commissions are comparatively cheap.

Support for Overseas Expansion and Emigration
We have a subsidiary in Singapore (Mita Securities Global Consulting
and EJC) to support smooth and optimal overseas expansion and/or
emigration.

Non-resident Accounts and Standing Proxy Services
We welcome non-residents clients to open an account with us. We canact as your standing proxy which is necessary for non-residents wheninvesting in Japanese stocks.

Loans
We provide many types of loans, such as stock collateralized loan,
mutual fund collateralized loan. Our subsidiary, Mita Global Finance,
can offer mortgage loan.

Life Insurance
We provide life insurance policy. Qualified sales professionals support
you. We also offer advice on reviewing your life insurance policy.

Hedge Funds.

Original Funds

We have a lineup of good hedge funds. They aim at absolute
returns even when the stock market is going down.

We are able to create original funds for our clients. When you set
up your own original fund, you have to clear complex regulatory
requirements. We have extensive experiences in advising clients on
the structuring of original funds.

We are proud to be ranked 6th in the league table. (Since 2007,
based on number of cases). We have a substantial experience inthis business, and established a reputation for giving right advice
to various complicated situations.

We purchase warrants and CBs issued by listed companies andassist them in fundraising.

Finance - Factoring

Finance - Rights Offerings

We do factoring of medical receivables, mainly for hospitals,
nursing care homes and pharmacies, to support their funding.
Since the start of our business in 2003, we have purchased a large
number of medical receivables.

We have extensive experience in advising companies on rights
offerings.

Capital Markets
Our equity and fixed income teams provide clients with a diverse range of products and professional services in our Capital Markets practice.

Direct Market Access (DMA)

Fixed Income BusinessFor professional traders from fund managers to day traders, we
provide the online trading services. Those who has a FIX device
can connect to our DMA. We offer high-speed, low-cost trading
environment. You can also take advantage of using our five typesof algorithms to support your diversified investment strategies.

Our fixed income traders with many years of experience in the bondbusiness trade mainly government and corporate bonds of developed
countries. We also provide emerging bonds and structured notes. We
take an advantage in providing with a competitive price with over 10
investment banks and a nationwide network of brokerage firms.

Real Estate

Real Estate Agency

Real Estate Fund Management

Our professionals have many years of experience in the real estateindustry and can help you buy and sell real estates. As a licensed
security firm, we also buy and sell real estate trust beneficiary rights.

We have extensive experience in setting up real estate funds.
We have an experience in structuring a variety of funds. We provide
a wide range of services, from providing general advice on fund
set-up to soliciting investors and managing funds.

Overseas Real Estate
We use our global network to support real estate investments in the
U.S. and Asia. There are many barriers to overseas real estate
investment, such as languages, laws, and business practices, which
would make investors uncomfortable. Our experts are pleased tosupport you with good knowledge and English.

Examples of original funds
solar power fund, industry restructuring fund,modern art exhibition fund, pro-wrestling fund etc.

Moneylending BusinessWe have been operating money lending business since 2002. We provide quick and flexible support for clients.

Trade Funds.

Securities-Backed Loans

Mortgage Loans

We offer trade finance funds that aim to generate stable income.

We provide loans secured by listed stocks, mutual funds, bonds andother securities. We can provide loans in two days at the shortest witha quick screening process. While you utilize your own company's
shares as a collateral, the name of the shareholder is unchanged.

Mita Global Finance, a subsidiary of Mita Securities, provides
mortgage loans for clients to invest in real estates. Non-residents ofJapan and foreign investors are accommodated.

Real Estate Funds
We have set up many kinds of real estate funds. Not only the funds toget both of income and capital gains but also the funds for inheritanceplanning. We also set up the funds to renovate traditional town housein Kyoto, and the distressed fund for U.S. real estate. We are licensed
as a real estate fund management company.

10

Finance - Warrants and CBs

Corporate Profile

Corporate Profile

We do a thorough research and due diligence to provide attractive funds from around the world to our clients. We differentiate ourselves toprovide highly unique products that are only available with us. Even though it is a professional fund that requires a large investment, we
reorganize it so that individual investors can invest in it even with a small amount.

We have provided opportunities for our clients to invest in venture
funds that invest in attractive venture companies in the US and India.

TOB Agent and Financial Advisory Services

We are engaged in real estate related business. We are licensed for the brokerage business as well as the fund management and distribution
business. We have a wide range of real estate business experience.

Fund

PE Funds.

We provide a wide range of investment banking services to clients. Our strength lies in our flexible solutions and professional advisory. In
cooperation with our subsidiary in Singapore, we provide professional support for cross-border deals.

Factoring and Loans for Hospitals
Since 2003, we have been engaged in factoring business for hospitals.
We will also purchase the future receivables.
We are proud of our top-class experience and achievements infactoring for small and medium-sized medical institutions.

11Company Overview

Subsidiaries
We have established subsidiaries in Japan and Singapore to supplement our securities business.
We will continue to leverage our strengths in cross-border transactions.

MSGC was founded in Singapore in August 2019. We seek to provide a businessand cultural bridge between Japan and overseas countries, especially Singapore.
Our team members, with a wide range of expertise and experience in theinternational business and a proven track record, will provide the best solutions
for our clients.
Representative: Yui Haraguchi
Business Scope

Commencement of Operation:
Capital:Major Shareholder:
President & CEO:
Overseas Subsidiary:
Subsidiary in Japan:
Office addresses:

Representative: Eric Tong
Business ScopeEJ Consultancy Services

Incorporation, tax returns, accounting, secretarial services, dispatch of directors,
advisory services, due diligence, etc.

MGF was set up in 2020 for mortgage loans. We provide loans for investment
properties. We also cater to non-residents of Japan.
Representative: Satoshi Kimura

Membership in Exchanges:
Membership in Investor Protection Funds:
Accounting Auditor:

Business Scope

Mita Global FinanceMortgage loans(MGF, Tokyo Governor (1) No. 31780)

Membership in Associations:(As of June, 2020）

Tokyo Head Office Map

Compliance

Heisei DoriShowa DoriInter Circular Route(Toll road)

Head of Internal Control System•Compliance Committee•System Risk Committee

Nihonbashi Station

Committee

Eitai Dori

Robinson Rd

Kayabacho Intersection

Board of Directors

Check for Compliance System andInternal Control System

Business Unit
Infrastructure Unit

Governance Check

12

Instructions for
Problem Solving

Reporting Problems ofInternal Control System

ComplianceDepartment

Audit

External Auditor

Osaka Branch Office Map

Audit Department
Check and Assessment of Compliance System,Risk Controls,and Internal Controls/Demands for Improvement of Problems

Check for Risk Control
and Internal Controls

Corporate Auditor

Pointing Out Problems ofInternal Control System

Subway Sakaisuji Line

Instructions for Improvement to Enhance
the Quality of Internal Control System

Audit Report

LAWSON
ローソン

Fukusuke

Telok Ayer Station

Cecil St

Securities Dealers Association

Kayabacho Station
Tokyo Tozai Hibiya Line

Singapore Branch Office

Rafﬂes Place Station

Shenton Way
Marina Bay

Corporate Profile

Our GovernanceTokyo Head OfficeTanjong Pagar Station

Cross StWe are a financial instrument business operator who is an important player in this financial market, therefore we not only ensure strict
compliance with all laws and regulations, but also need to develop the sufficient internal control structure in order to protect investors and tosecure fairness of the market. Compliance is a top management priority for our company.

Toei Asakusa Line

Tokyo Stock Exchange

Singapore Branch Office Map

ト
ダク
イア
・バ
ペル
ケッ

Corporate Profile

MITA SECURITIES Co., Ltd.
Director of Kanto Local Finance Bureau (Financial instruments firms) No.175
Moneylender / Tokyo Governor (6) No.27088
Registered Real Estate Broker / Tokyo Governor (1) No.103950
Real Estate Specified Joint Enterprises / Commissioner of the FSA・Minister of Land, Infrastructure and Transport No.76
July 1949¥500,000,000
Kunihiro Mita
Kunihiro Mita
EJ Consultancy Services Pte.Ltd. Mita Securities Global Consulting Pte. Ltd.
Mita Global Finance(Head Office)3-11, Nihonbashi-kabutocho, Chuo-ku, Tokyo 〒103-0026
Tel +81-3-3666-0011 Fax +81-3-3668-7350(Osaka Branch)
1-7-15-5F, Minami-honmachi, Chuo-ku, Osaka City, Osaka 〒541-0054
Tel +81-6-6260-5670 Fax +81-6-6260-0882(Singapore Branch) 105 Cecil Street #24-02 The Octagon Singapore 069534
Tel +65-6692-8325(Subsidiary)
Mita Securities Global Consulting Pte. Ltd.
105 Cecil Street #24-02 The Octagon Singapore 069534(Subsidiary)
EJ Consultancy Services Pte. Ltd.
105 Cecil Street #24-02 The Octagon Singapore 069534
Japan Securities Dealers Association
Tokyo Real Estate Association
Japan Financial Services Association
The Tokyo Stock Exchange・The Osaka Stock Exchange
Japan Investor Protection Funds
Moore Shisei & Co. / OAKFIELD & ASSOCIATES

Maxwell Rd

The accounting firm was established in 2004 in Singapore and was acquired byMita Securities in 2017.
The firm provides tax and accounting services in Singapore. Takeshi Narita, aJapanese tax accountant, is also a member of our affiliate company (EJA) andprovides services for Japanese clients in Japanese language.

Company Name:
Registration:

Shin-Ohashi Dori

Cross-border M&A advisory services, due diligence, Post-Merger Integration,market research report, cross-border fundraising advisory, fund set-up support,
overseas expansion support, finding cross-broader business alliance support,
real estate advisory services, wealth management, international IR support, etc.

Tokyo Metro Hibiya Line

Mita Securities Global Consulting (MSGC)

Osaka Branch Office

Teijin Hall

Chuo Odori

Sakaisujihonmachi Station
Bank of Tokyo-Mitsubishi UFJ

Subway Chuo Line13