Annual Report 2022
Corporate Proﬁle 2023

Greetings

Annual Report1

We had another profitable year in FY2023, marking it our 20th consecutive year of profitability. Even if each year's achievement may be small, continuity
for 20 years is a meaningful achievement: our net assets which were approximately 1.25 billion yen 20 years ago has exceeded 7.5 billion yen, and ourassets under custody has exceeded 400 billion yen, compared to approximately 24 billion yen 20 years ago. The quality and scale of business we are
involved in have both improved significantly. Although we have not yet reached a satisfactory level, we are happy to see the results of the efforts madeby our executives and employees to uphold the "Customer First" principle that our founder, Kenji Mita, set as our corporate motto. We will continue toimprove ourselves to become a company that is truly "Customer First" and is recognized for its value by everyone.
As we embark on the next 20 years, our focus will be on international expansion. Japan is simultaneously facing a declining birthrate, an aging society,and a rapidly shrinking population. This structural problem is serious and will have a heavy impact on the people of Japan. However, if we look overseas,
we see that the world is full of opportunities. We believe that by combining the wisdom of Japan with the vitality of other countries, we can overcome thestructural problems Japan faces.
In order to achieve this goal, Kunihiro Mita, our third president, relocated to Singapore last year to take the lead of three group companies. In Japan, under
the leadership of Takehito Kadokura, our fourth president, we will continue to improve the quality of our services. We sincerely ask for continued support
and patronage.

Mita Securities Co., Ltd.

Kunihiro Mita
Owner

Mita Securities Co., Ltd.

Takehito Kadokura

Representative Director

・We are committed to thorough disclosure in order to enhance the trust of customers and business partners. Our "Annual Report /Corporate Profile" is prepared for the purpose of informing our financial performance and condition, and business activities.
・From this fiscal year, the income statement reports the combined total of Mita Securities, Mita Capital (MC) and Mita Global Advisory(MGA). (The balance sheet is of Mita Securities’ standalone financial position) Please refer to "Information on Group Companies" on page 12
for the capital relationship between Mita Securities and its group companies. The exchange rate used is TTM (1SGD=100.60yen) as of March
31, 2023. The comparative figures are based on Mita Securities’ standalone results for FY2022.

2

Mita Securities, MC and MGA Consolidated Income Statement.

Annual Report(Unit: Millions of yen)Accounts

March 2023 Consolidated*

Operating revenue

3,962(3,465)

Commissions

474

(407)

Brokerage

199

Underwriting, sales, solicitation of sales for specific investors, etc.

10

Offering, Distribution, solicitation of sales for specific investors, etc.

91

Others173(106)

Trading profit/loss

1,741

Financial revenue

892

Other operating revenue

854

(423)

Financial expenses

159

Net operating revenue

3,803(3,305)

Selling, general and administrative expenses

2,980(2,860)Operating income

822

(445)

Non-operating income/loss

151

(137)

Ordinary income

973

(582)

Extraordinary loss

23

Income before income taxes

950

(559)

245

(185)

704

(373)

349

(346)

2,104

(2,002)

Real estate related expenses

53

(52)

Office expenses

300

(294)

Depreciation and amortization

35

Taxes and public dues

120

Transaction-related expenses
Personnel expenses

Provision for allowance for doubtful accounts

4

Others12

Corporate, inhabitant and enterprise taxes
Income taxes-deferred

Net income

(11)

349
△104

* (Italicized) figures are of Mita Securities standalone.

Financial Report

Annual Report

Commissions

Financial revenue

Commission fees received totaled 474 million yen, compared with 419

Financial revenue totaled 892 million yen (848 million yen in the same

million yen in the previous fiscal year on a non-consolidated basis at Mita

period of the previous fiscal year) due to an increase in factoring fees

Securities.

despite a decrease in interest income related to margin transactions and

The breakdown is as follows:money lending.

Brokerage Commission

Other operating revenue

The stock market fell sharply as Europe and the U.S. raised interest rates
sharply with the aim of calming the rapid inflationary trend. As a result,brokerage commissions on Japanese and U.S. equities declined, resulting
in brokerage commissions of 199 million yen (262 million yen in the same
period of the previous fiscal year).

Other operating revenue totaled 854 million yen (301 million yen in thesame period of the previous fiscal year) due to the steady accumulation of
FA revenue related to M&A and TOB, as well as revenue from the newly
launched real estate securitization business. The Company was appointed
as TOB agent for six cases and also achieved results in FA operations for

Underwriting commissions

M&A. In real estate-related operations, the Company was successful in its

Underwriting commissions totaled 10 million yen (9 million yen in theprivate placement fund business. In real estate-related services, thesame period of the previous fiscal year) due to the underwriting ofproducts originated in-house.

Company established five private placement funds and brokered bulk
sales of properties held by the funds. MC and MGA recorded FA revenueof 42 million yen and 387 million yen, respectively.

Offering commissions
Due to an increase in mutual fund sales through IFAs (securities
intermediaries), subscription fees totaled 91 million yen (61 million yen in1

the same period of the previous fiscal year). MC launched two new funds
during the period, which were distributed by the Company.

Other commissions
Other commissions received totaled 173 million yen (84 million yen in thesame period of the previous fiscal year) due to an increase in the balanceof mutual funds managed by the Company and performance fees received
by MC for fund management.
MC contributed 67 million yen to the Company's revenue frommanagement fees and performance fees.

Finance cost
Financial expenses totaled 159 million yen (189 million yen in the same
period).

As a result of the above, net operating revenue for the period was 3,803
million yen (2,468 million yen in the previous period).

Selling, general and administrative expenses
Selling, general and administrative expenses totaled 2,980 million yen(2,289 million yen in the same period). Strong performance led to an

Trading profit/loss

increase in dealer compensation and provision for bonuses for executives

Total trading revenue was 1,741 million yen (1,088 million yen in thecompanies also had an impact, resulting in a significant increase insame period).

Stock trading Profit and Loss
The dealing business continued to struggle due to unpredictable market
volatility. Equity trading revenue totaled 1,085 million yen (722 million
yen in the previous year). Although the business recovered from theprevious year, when it was hit by the sharp decline in stock prices,earnings remained at 30% of the level of two fiscal years ago, when theand employees. In addition, the combined personnel expenses of grouppersonnel expenses. In addition, selling, general and administrative
expenses of 120 million yen were recorded for MC and MGA.

As a result of the above, operating income was 822 million yen (178
million yen), ordinary income was 973 million yen (356 million yen),income before income taxes was 950 million yen (343 million yen), andnet income was 704 million yen (199 million yen), a significant

division recorded its highest profits.

increase.

Bond trading profit/loss(249.0% of the previous year), ordinary income was 582 million yen

On a non-consolidated basis, operating income was 445 million yen

Trading was brisk mainly in U.S. Treasury bonds as interest rates on U.S.

(163.6% of the previous year), income before income taxes was 559

dollar-denominated bonds returned to normal. Supported by strong

million yen (162.6% of the previous year), and net income was 373

demand, bond trading revenue totaled 652 million yen (327 million yen in

million yen (187.4% of the previous year).

the same period of the previous year).

3

4Balance Sheet

Annual Report(Millions of yen)

As of March 31, 2023

AssetsLiabilities

March 2023

March 2022

Accounts

March 2023

March 2022

Current assets

34,41824,641

Current liabilities

27,802

17,635

Cash and deposits

1,980

2,582

Trading instruments

859

308

Deposits

5,240

3,020

Unsettled contracts

1,542

537

Trading products

3,567

1,809

Margin transaction liabilities

3,946

1,380

Margin transaction assets

1,801

1,425

Deposits received

4,827

3,970

Short-term guarantee deposits

4,291

3,430

Guarantee deposits received

1,170

2,439

Short-term loans receivable

9,077

4,668

Short-term loans payable

13,195

8,451

Monetary receivables

8,395

7,395

Current portion of bonds

1,100

-

Other current assets

84

324

Accounts payable

407

314

△ 20

△15

Income taxes payable310

1

Allowance for bonuses

397

155

Other current liabilities

45

74

Noncurrent Liabilities

432

1,029

Accounts

Allowance for doubtful accounts

Noncurrent Assets

1,373

1,746

Property, plant and equipment

106

146

Bonds

300

900

Intangible assets

43

38

Long-term debt

35

55

Investments and other assets

1,223

1,560

Other long-term liabilities

9774

Investment securities

311

308

Stocks of subsidiaries and affiliates

70

70

Special legal reserves

53

40

Investment in affiliates

637

777

Reserve for financial instruments transaction liabilities

53

40

Long-term loans receivable-

302

Total liabilities

28,28918,705

Deferred tax assets

162

58

Other investments, etc.

41

43

Shareholders' equity

7,502

7,682

Allowance for doubtful accounts

00Capital

500

500

7,002

7,182

7,502

7,682

35,791

26,387

Net assets

Retained earnings

Total net assets
Total assets

35,791

26,387 Total liabilities and net assets

Financial overview

Annual Report

Current assets

Current liabilities

Total current assets at the end of the current period amounted to 34,418

Total current liabilities at the end of the period amounted to 27,802 million

million yen (139.6% of the previous period). The main reasons for theyen (157.6% of the previous period). The main reasons for the change arechange are as follows. Deposits received increased to 5,240 million yen

as follows Margin transaction liabilities increased to 3,946 million yen(173.5% of the previous year) due to an increase in assets under custody.

(285.8% of the previous year) due to an increase in the balance ofTrading products increased to 3,567 million yen (197.1% of the previous

proprietary trading and margin transactions. Due to a decrease in theyear) due to an increase in shares held for proprietary trading. Short-termbalance of futures transactions, guarantee deposits received decreased toloans receivable increased to 9,077 million yen (194.4% of the previous

1,170 million yen (47.9% of the previous year). Short-term loans payable

year) due to an increase in the balance of loans secured by securities.

increased to 13,195 million yen (156.1% of the previous year) due to an

Receivables increased to 8,395 million yen (113.5% of the previous year)

increase in back-financing borrowings from an increase in the balance ofdue to an increase in the factoring balance.

loans secured by securities. Performance-linked bonus reserve increased
to 397 million yen (255.5% of the previous year) due to strong businessperformance.

Fixed assets

Noncurrent liabilities

Total fixed assets at the end of the current period amounted to 1,373

Total noncurrent liabilities at the end of current period amounted to 432

million yen (78.6% of the previous period). The main reasons for the

million yen (42.0% of the previous period). The main reasons for thechange are as follows Tangible fixed assets decreased to 106 million yenchange are as follows Subordinated bonds of 500 million yen and straight(72.7% of the previous term) due to the sale of real estate holdings.

bonds of 100 million yen were switched to current liabilities, resulting in

Investments in affiliates decreased to 637 million yen (82.0%

corporate bonds of 300 million yen (33.3% of the previous term).

year-on-year) due to the dissolution of an SPC and the resulting decrease

As a result, total liabilities at the end of the period amounted to 28,289

in investments in silent partnerships. The balance of long-term loans

million yen (151.2% of the previous period).

receivable was eliminated due to the full repayment of loans to theCompany's shareholders.

Net assets
Total net assets at the end of the period were 7,502 million yen (97.6% of
the previous period). Although retained earnings increased due to strong
performance, the Company repurchased 489 million yen of its own stockand redeemed a portion of its preferred stock, resulting in retained
earnings of 7,002 million yen (97.5% of the previous year's level).
As a result of the above, total assets, or sum of total liabilities and net assets amounted to 35,791 million yen (135.6% of the previous year).

Financial Highlights
Assets under custody over the past 20 years

Business performance over the past 20 years

450,000

1,600

400,000

1,400

350,000

6,000
5,000

1,200

300,000

4,000

1,000

250,000
200,000

800

150,000

600

100,000

400

50,000

3,000
2,000
1,000

200

0

0

Change in net assets over the past 20 years
9,000
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
（Fiscal Year）

Ordinary Proﬁt

Net Income

Net Operating Income

2022

2021

2020

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

Others2006

TK/NK etc

2005

Beneﬁciary Certiﬁcates

2004

Bonds

0
2003

Stocks（Fiscal Year）（Fiscal Year）

5

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Company Executives

Corporate Profile

As of July 31, 2023

President & CEO

Board Director

Board Director

Board Director

Tatehito Kadokura

Tsukasa Nakamoto

Tadashi Chaki

Tatsuya Otsuki

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
2022 President & CEO of the Company

1998 Graduated from the Faculty of Computer Scienceat 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

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

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 Board Director of the Company

Board Director

Non-exective Director

Kunihiro Mita

Yoshinobu Fujimoto

Yukihiro Shimizu

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.
2021 Board Director of the Company

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
2022 Non-exective Director of the Company

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

Takehiro Mishiri

Corporate Auditor

Yoshiki Iida

Keisuke Tomoyori

Managing Director

Managing Director

2003 Graduated from the Faculty of Businessat 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

1990 Graduated from the Faculty of Education
at Nagasaki University
1990 Joined Yamaichi Securities
2000 Joined Merrill Lynch Japan Securities(currently BofA Securities Japan)
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

Managing Director

Yuji Isoda

Corporate AuditorMajor Achievement April 2022 - May 2023

Corporate Profile

We were appointed as tender offer agent for the tender offer by Knauf International GmbH for the shares in Chiyoda
Ute Corporation (Securities Code: 5387; TSE Standard).
We were appointed as tender offer agent for the tender offer by Ferrotec Holdings Corporation (Securities Code:
6890; TSE Standard), for the shares in Toyo Knife Co., Ltd. (Securities Code: 5964; TSE Standard)
We were appointed as tender offer agent for the tender offer by Ferrotec Holdings Corporation (Securities Code:
6890; TSE Standard) for the shares in Oizumi Manufacturing Co., Ltd. (Securities Code: 6618; TSE Growth)
We were appointed as tender offer agent for the tender offer by Oisix La Daichi Corporation for the shares in Sidax
Corporation. (Securities Code: 4837; TSE Standard)
We were appointed as tender offer agent for the tender offer by Rays Company (Hong Kong) Limited for the sharesin Latham Co., Ltd. (Securities Code: 8890; TSE Standard)
We were retained to act as tender offer agent for the joint tender offer by Hikari Acquisition Corporation, Nippon
Active Value Fund PLC, and Michael 1925 LLC for the shares in T&K TOKA Corporation. (Securities Code:4636; TSE Prime).
We were appointed as tender offer agent for the tender offer by Reda Group Holdings, Inc. for the shares in Curtis
Holdings, Inc. (Securities Code: 7602; TSE Standard).
We were retained to act as tender offer agent for the tender offer by an individual investor for the common stocks
of Convano Corporation. (Securities Code: 6574; TSE Growth).
We acted as financial advisors to Ropia Holdings, Inc. for the capital and business alliance between Ropia Holdings,
Inc. (unlisted) and SuperValue, Inc. (3094)
We purchased the 6th series of stock acquisition rights, 7th series of stock acquisition rights and 8th series of stockacquisition rights (with a total exercise price of approximately 510 million yen) through a third-party allotment by
AIAI Group Inc. (Securities Code: 6557; TSE Growth).
We purchased the 3rd and 4th series of stock acquisition rights (with a total initial exercise price of approximately
400 million yen) through a third-party allotment by Az Kikaku Sekkei Inc. (Securities Code: 3490; TSE Standard)
We launched five private placement funds for real estate development of rental condominiums.
We sold the trust beneficiary interests in real estate (10 properties) held by a real estate private placement fund to areal estate private placement fund formed and managed by an investment fund of a major U.S. asset managementcompany.
Our wholly owned subsidiary, Mita Capital Pte. Ltd. received a fund management license (CMS license) from theMonetary Authority of Singapore (MAS).

7

8

MissionCorporate Profile

Pursue the infinite possibilities of the securities industry
and keep on creating new value added.
Business Principles

We always approach our workwith integrity and honesty.

We listen to our clientsʼ voice carefully andconsider things from their perspective.

We aim to make deals in which ourcustomers and our company have awin-win relationship.

We consider compliance to be ourutmost important responsibility.

We strive to provide high added value
to our clients.

We contribute to our clients with the
teamwork of our diversiﬁed staﬀ.

We adapt ourselves to the change oftime, and work with creativity.

We complete our job with a thoroughresponsibility once we commit thebusiness.

We have a global perspective andseek out the best opportunities fromall around the globe.

Organization chart
Wealth Management Division
Information Technology Committee
Compliance Committee

IFA Business Dept.

Equity Division
Fixed Income Division
Equity Dealing Division

Board of Directors

President & CEO

Investment Banking Division
IPO department

Corporate Auditor

Audit Dept.

Real Estate Division

Real Estate Securitization Business Dept.
Operations Dept.

Group Companies

Control Division

Mita CapitalCompliance Dept.
Underwriting Examination Dept.

Mita Global Advisory

EJC Group（EJC,EJA,ES,EM）

Finance Division

Human Resources & Administration Dept.

Information Technology Division

Financial Reporting Dept.
Tax Advisory OfficeFeatures of Mita Securities

Corporate Profile

Net Profit for 20 Consecutive Years
We have been profitable for 20 consecutive fiscal years through the fiscal year ending March 31, 2023. During the past 20 years, we have faceda series of major crises such as Livedoor Shock, Lehman Shock, European debt crisis, Great East Japan Earthquake, Covid-19 pandemic, highinflation and rapid interest rate hikes in the US and Europe, Russian invasion of Ukraine, collapse of Credit Suisse and mid-sized US banks,and so on. However, we successfully stabilized our business performance by diversifying our operations into a wide range of areas, including
wealth management, investment banking, equities and bonds, money lending, real estate-related operations, and dealing, and by creating a
number of unique products and services that are unique to our company.

Global Mindset
Japan's rapidly declining birthrate and aging and shrinking population have raised concerns about slow growth. However, looking to the world,
opportunities abound to offset the hardships of these structural problems. If we can combine the wisdom of Japan with the global opportunities,
we will be able to capitalize on our potential. We, being well versed in both strengths and weaknesses of Japan, will act as a bridge between
the world and Japan, identifying investment opportunities, supporting foreign expansion, and mediating cross-border M&As. We will always
act with a global mindset.

Fiduciary Duty
Since the time of our 2003 Annual Management Plan, we have been committed to the concept of "Fiduciary Duty" and have always believedthat it is the responsibility of a securities firm to deal with customers in a professional and sincere manner. This awareness is reflected in a
number of indicators. While turnover trading is often criticized as a problem with the attitude of securities firms and banks toward the sale offinancial products, our commissions divided by assets under custody at the end of the fiscal year were 0.23%/year (FY2023 results), well below
the industry average.
*Commissions = brokerage fees + oﬀering fees + gains on bond trading

Unique Products and Services
We differentiate ourselves from our competitors by creating and developing highly unique products and services. The era of pushy sales
strategy is over. We believe it is important to provide products and services that are truly desired for and supported by investors.

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, andoriginality. Despite the company's long history of more than 70 years, we never forget the venture spirit.

Professionalism
We employ in-house specialists to ensure the highly professional work. We also actively collaborate with outside experts. By leveraging theexpertise of internal and external experts, we provide the best differentiated services to our clients.
As of March 2023, the Group has the following specialists. 1 lawyer, 3 certiﬁed public accountants, 1 assistant accountant, 2Singapore chartered accountants, 2 certiﬁed tax accountants, 1 labor and social security attorney, and 1 small business consultant.

9

10

Wealth management

Corporate Profile
We provide comprehensive solutions to high net worth clients with a variety of products and unique services.

Investment management

Support for overseas expansion and emigration

We offer a diverse range of products, from traditional investment products
to alternative products.

We have a subsidiary in Singapore to support smooth and optimal overseas
expansion and/or emigration.

Our products

Listed stocks, options on stock index futures, U.S. stocks, foreign bonds,
public investment trusts, private investment trusts, real estate funds,
proprietary funds, private placement bonds, structured bonds, etc.

Advisory for inheritance tax and business succession planning
Sufficient and comprehensive plans are required to pass on valuable assets
and business to descendants. We specialize in advisory for inheritance tax
and business succession planning and have a wide range of experiences inadvising clients.

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

Non-resident accounts and standing proxy services
We welcome non-residents clients to open an account with us. We canact as 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.

Insurance
We provide life insurance policy. Qualified sales professionals support
our customers. We also offer advice on review of life insurance policy.

Overseas investment
We support investment in overseas assets, such as U.S. stocks, foreign
bonds, hedge funds and overseas real estate etc. Our currency exchangecommissions are comparatively cheap.

Alternative investment
We identify attractive funds from around the world and provide our clients with highly unique products that are not available from other firms. We provide
access to funds for professional investors requiring large investments, as well as for individual investors with small investments. In addition, our subsidiary
Mita Capital has obtained a CMS license from the Monetary Authority of Singapore (MAS) to provide fund management services.

Fund of funds

Real estate fund

The Singapore subsidiary of the Fund of Funds selects hedge funds withsuperior performance from hedge funds around the world, and createsand manages a fund of funds that invests in a diversified portfolio offunds with different investment strategies, investment objectives,
investment geographies, and sources of risk.

In addition to pure real estate funds, we have also established a numberof highly unique real estate funds, including a real estate fund for
inheritance measures, a Kyoto machiya revitalization fund, and a
distressed fund for U.S. real estate. (We are licensed as a Real EstateSpecified Joint Enterprise.)

Hedge fundWe have a lineup of hedge funds. They aim at absolute returns evenwhen the stock market is down.

PE fund
We have enabled small ticket size investment in venture capital funds
that invest in attractive startup companies in the U.S., India, and Israel.

Original fundWe create tailor-made funds for our customers. Structuring of fundrequires the clearance of complex laws and regulations. We haveextensive experience in advising on the structuring of original funds.
Past performance

Solar investment fund, industry restructuring fund, modern art
exhibition fund, wrestling exhibition fund, etc.

Investment banking
We provide investment banking services to a wide range of clients, from listed and unlisted companies to hospitals, nursing homes, and dispensing pharmacies. Ourstrength lies in our flexible solutions and expert advisory capabilities. In cooperation with our Singapore subsidiary, we also provide expert support for cross-border deals.

TOB agent services

Purchase of warrants and CBs

We are proud to be ranked 6th in the industry league table (based on
number of cases since 2007).（We have earned a reputation for our ability
to advise our clients in all phases of TOB transactions, not to mention theprocedures involved in TOB representation. We have the highest numberof cases in Japan (based on number of cases) of representing clients inacquisitions without consent and competitive acquisitions, and ouraccumulated know-how enables us to provide appropriate advice even incomplex situations.

We support fundraising by purchasing warrants and CBs issued by listedcompanies.

M&A related services
We have extensive experience in partner search, FA work, and DD work.
We have professionals fluent in English and Chinese, and knowledgeablein accounting and law, and can handle not only domestic but also
cross-border M&As. We are also experienced in M&As of hospitals.

Factoring services
We provide factoring of medical fee receivables, etc., mainly to hospitals,
nursing care facilities, and dispensing pharmacies.

Rights offering FA
We have extensive experience in advisory services for companies conducting
rights offerings.

IPO related services - Public offering underwriting
We act as a lead managing underwriter (guidance and examination ofcapital policies and internal control systems, etc., as well as pricing andfinancing support) for companies seeking to list on the Tokyo Stock
Exchange. Our strength lies in our ability to work closely withcompanies preparing for listing, providing extensive guidance by ourexperienced members and equity story and capital policy support by our
primary analysts.

Capital markets

Corporate Profile

Our equity and fixed income professionals provide clients with a wide variety of products and professional services in capital markets.

Stock operations

Fixed income

Stock brokerage services

Our bond traders, who have many years of experience in the field, trade
mainly government and corporate bonds of developed countries to meetthe needs of investors. We also offer emerging and structured bonds atcompetitive prices through more than 10 leading suppliers and securities
firms throughout Japan.

The operator also takes orders for OB orders and TOSTNET orders.

DMA (Direct Market Access)/Algorithmic trading
The DMA is designed to support online trading for professional investors,
allowing any FIX-capable terminal to connect to our DMA for high-speed,
low-cost trading. Algorithmic trading is also available to support a variety
of investment strategies.

Real estate
We are licensed as a real estate transaction business operator, licensed as a real estate specified joint enterprise, and registered as a Class II money business
operator, and are capable of handling a wide range of real estate-related operations. In particular, in the area of real estate securitization, we have extensive
experience in supporting the formation and management of funds utilizing the GK-TK and the Law Concerning the Non-Profit Corporation Law. We also haveexperience in the formation of real estate funds in the United States.

Real estate securitization business and fund business

Real estate brokerage businessWe provide a wide range of services, including arranging the formationof privately placed real estate funds, consulting to real estate asset
management companies, and providing institutional management
services for real estate funds. We also provide advice to companies
seeking to enter the real estate asset management business. We also haveextensive experience in establishing unique real estate funds. We havestructured a wide variety of funds, ranging from pure investment andinheritance products to distressed real estate and old house revitalization
funds. We can also form funds for physical real estate.

Our professionals, who have many years of experience in the real estateindustry, act as intermediaries for real estate purchases and sales. As afinancial instruments business operator, we also buy and sell real estate
trust beneficiary interests.

Overseas real estate
We utilize our extensive network to assist our clients with real estate
investment in the U.S. and Asia (introductions, provision of information,etc.). Our experts provide full support for our clients, who often facedifficulties investing in overseas real estate due to language, laws,business customs, and other barriers.

Money lending business
Securities-backed loan

Factoring and medical loans

We provide loans secured by securities such as listed stocks, mutual
funds, and bonds. We provide prompt screening and loans can be madewithin 2 days at the earliest. Since the shares remain in the customer's
name, the loan can be used as a measure for effective utilization of thecompany's shares.

We factored medical, nursing care, and dispensing fee receivables. For
some customers, we also purchase receivables (loans) in the future. We
are proud of our top-class experience and track record in factoring
services for small and medium-sized medical institutions.

IFA
We partner with financial product intermediaries (IFAs) and provide in-depth support for IFA businesses specializing in the high-net-worth segment. We havean established reputation for our ability to solve the problems of high-net-worth individuals. We provide one-stop services to meet a wide variety of needs,
such as responding to client requests with tailor-made product compositions. Our experienced members provide detailed assistance to IFAs by consulting withthem and raising awareness of their needs for new products. We provide highly specialized and unique products and services, such as access to the world's topclass hedge funds, tailor-made bonds, real estate and investment banking services, which help the IFAs differentiate themselves and provide high value-added
services.

1112Group Companies

Corporate Profile

We have group companies in Singapore to complement our securities business. They have demonstrated strength in cross-border business.

Mita Capital

Mita Global Advisory

EJ Consultancy Services

A fund management company licensed by the
Monetary Authority of Singapore (MAS) as acapital markets services (CMS) license. The
company currently manages two flagship funds offunds as well as other unique funds such as thoseinvesting in private equity funds.

An advisory firm with a focus on cross-borderdeals.

An accounting firm established in Singapore in2004 and acquired by Mita Securities in 2017. The
firm provides general tax and accounting services in
Singapore. Japanese tax accountants are also
employed by an affiliated company (EJA) to serve
Japanese clients.

Representative: Yui Haraguchi
Shareholder: Mita Securities (100%)
Principal business: Fund management

Representative: Yui Haraguchi
Shareholder: M&Y Stars Global (100%)
Principal business: Cross-border M&A advisory, due
diligence, post-merger integration, market researchand research reporting, cross-border fund-raising
advisory, fund formation support, overseas
expansion support, capital and business alliancesupport, real estate advisory service, wealthmanagement, international IR support, etc.

Representative: Eric Tong
Major shareholder: Mita Securities (88%)
Principal business: Incorporation support, tax filing,
and accounting service, corporate secretarial service,executive staffing, various advisory services, due
diligence, etc.

Compliance
As a financial instruments firm that plays an important role in the financial and capital markets, we are required not only to comply with laws andregulations, but also to maintain sufficient internal control systems to protect investors, ensure fairness in the markets, and maintain customer trust. We
are committed to compliance management that emphasizes putting the customer first, preventing unfair transactions, and preventing any relationship with
antisocial forces (including measures against money laundering and terrorist financing).

Our GovernanceCommittee

・Compliance Committee
・IT Committee

Head of Internal Control System

Board of Directors
Instructions for Improvement to Enhance
the Quality of Internal Control System

Instructions for
Problem Solving

Check for Compliance System andInternal Control System

Business Unit
Infrastructure Unit

Reporting Problems ofInternal Control System

ComplianceDepartment

Pointing Out Problems ofInternal Control System

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

Audit
Governance Check

Corporate Auditor

External Auditor

Audit ReportAbout Us

Corporate Profile

Company NameMITA SECURITIES Co.,Ltd.

Registration

Financial Instruments Business Operator Director-General of the Kanto Local Finance Bureau (Kinsho) No. 175
Money Lender Governor of Tokyo (7) No. 27088
Real estate transaction business Governor of Tokyo (1) No. 103950
Real Estate Specified Joint Enterprise Commissioner of the Financial Services Agency, Minister of Land, Infrastructure, Transport and Tourism No. 76

Business Issuer of Qualified Invoices

T6010001058171

Establishment

July 1949

Capital

500,000,000 yen

Major Shareholders

MITA FAMILY OFFICE PTE. LTD.

President & CEO

Takehito Kadokura

Board of Directors

Takehito Kadokura, Tsukasa Nakamoto, Tadashi Chaki, Tatsuya Otsuki, Takehiro Mishiri, Kunihiro Mita

Audit & Supervisory Board Member

Yoshinobu Fujimoto, Yukihiro Shimizu

Office Addresses (Head Office)3-11 Nihonbashi Kabuto-cho, Chuo-ku, Tokyo 103-0026, Japan
Tel 03-3666-0011 Fax 03-3668-7350(Osaka Branch Office)Meijiyasudaseimei Sakaisuji Honmachi Bldg. 5F, 1-7-15 Minamihonmachi, Chuo-ku, Osaka-City, Osaka 541-0054, Japan
Tel 06-6260-5670 Fax 06-6260-0882
Mita Capital Pte. Ltd.

(Subsidiary)

105 Cecil Street #24-02, The Octagon Singapore 069534(Affiliated Company)

Mita Global Advisory Pte. Ltd
105 Cecil Street #24-02, The Octagon Singapore 069534
EJ Consultancy Services Pte.,Ltd.

(Subsidiary)

105 Cecil Street #24-02, The Octagon Singapore 069534
Japan Securities Dealers Association

Membership in Associations

Tokyo Association of Real Estate Agents
Japan Money Lenders Association
Tokyo Stock Exchange and Osaka Securities Exchange

Membership in Exchanges

Membership in Investor Protection Funds Japan Investor Protection Fund

Moore Mirai & KPMG LLP (MITA CAPITAL)

Accounting Auditor

Eitai DoriTokyo Metro Tozai Line

Subsidiary companies in Singapore

Telok Ayer Staion

Cecil St

Robinson Road

Raffles Place Station

ト
ダク
イア
・バ
ペル
ケッ

Shenton Way
Marina Bay

Subway Sakaisuji Line

ローソン
LAWSON

Fukusuke

Osaka Branch Office
Teijin Hall

Chuo Odori

Sakaisujihonmachi Station
Bank of Tokyo-Mitsubishi UFJ

Kayabacho Intersection

Cross St

Maxwell Road

Securities Dealers Association

Kayabacho Station

Subsidiary companies in Singapore Map

Tanjong Pagar Station

Osaka Branch Office Map
Shin-Ohashi DoriTokyo Head Office

Heisei DoriTokyo Stock ExchangeInter Circular Route(Toll road)Showa DoriNihonbashi Station

Toei Asakusa Line

Tokyo Head Office Map

Tokyo Metro Hibiya Line(As of July 2023)

Subway Chuo Line13

3-11 Nihonbashi Kabuto-cho, Chuo-ku, Tokyo 103-0026, Japan
Tel 03-3666-0011