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

Summary of Consolidated Financial Statements for the Second Quarter FY2024(Based on Japanese GAAP)May 10, 2024
Name of listed company: GMO Financial Gate, Inc
Exchange:
Tokyo Stock Exchange Growth
Stock code:
4051
URL:
https://gmo-fg.com/
Representative: Kentaro Sugiyama, President & Chief Executive Officer
Contact:
Tomoki Tamai, Director, Administrative Division Executive Officer
Tel: +81-3-6416-3881
Scheduled submission date of
Scheduled date of commencement
May 13, 2024－
quarterly reportfor dividend payment
Supplemental materials prepared for financial results： Yes
Information meeting arranged related to financial results ： Yes (for institutional investors and analysts )(Amounts rounded down to the nearest one million yen)

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

Revenue
Mil.YenQ2 FY2024
Q2 FY2023(*) Comprehensive profit%

Mil.Yen

9,244
27.2
922
45.2
7,264
62.6
635
71.4
Q2 FY2024 577Mil.Yen(45.0%)
Basic earnings per Diluted earnings per
share
share

%

Mil.Yen

916
633
Q2 FY2023

Yen

Mil.Yen

％

44.6
71.1
398Mil.Yen

%

551
39.9
394
68.5
(70.9%)Yen

Q2 FY2024
66.52
66.32
Q2 FY2023
47.77
47.42
((Note) The Company conducted a 2-for-1 stock split for common stock on January 17, 2023. The effect of the stock split has
been reflected in the calculation of basic earnings per share for the fiscal year ending September 30, 2023 (forecast)(2)Consolidated Financial Position
Total assets
Q2 FY2024
FY2023(Note) Equity Capital

Q2 FY2024

Total equity

Equity ratio

Mil.YenMil.Yen

11,011
9,262
5,100Mil.Yen

5,329
5,115
FY2023

%

46.3
53.0
4,913Mil.Yen

2．Dividends
Annual Dividends
End of Q1

End of Q2

Yen

End of Q3

Yen

Year-end

Total

Yen

Yen

Yen

FY20230.00－－
FY20240.00－
FY2024 (forecast)－(Note) Revision to the most recently released dividend forecast ： No

46.00

46.00

52.00

52.00

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

Revenue
Mil.Yen%Mil.Yen%FY2024
19,200 20.7
1,410 25.9
(Full year)(Note) Revision to the most recently released financial forecast

Mil.Yen%Mil.Yen

%

Yen

1,392

24.9

859

15.1

103.41： No

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

Notes:(1) Changes of important subsidiaries during the period: No(change of specific subsidiaries that leads to a change in the scope of consolidation)
Number of new subsidiaries- (Name ) ; Number of excluded subsidiaries: -(2) Adoption if the accounting method peculiar to quarterly financial statements:(Name )No

(3) Changes in the accounting policy / changes in the accounting estimation[1] Changes in accounting policy required by accounting criteria : No
[2] Changes in accounting policy other than [1]: No[3] Changes in accounting estimations: No[4] Restatement of prior period financial statements: No(4) Number of shares issued (common stock)[1] Number of shares issued at the end of the term(including treasury stock)

Q2 FY2024

8,339,480 FY2023

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

Q2 FY2024

19,188 FY2023

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

Q2 FY2024

8,293,800 Q2 FY2023

8,254,844(Notes) 1. The number of treasury shares at the end of the term includes the Company’s shares held by Board Benefit
Trust (BBT and J-ESOP) (FY2023: 18,800 shares, Q2 FY2024: 18,800 shares)
2. The company conducted a 2-for-1 stock split for common stock on January 17, 2023.As a result, the numberof shares issued (common stock) is calculated on the assumption that the stock split was conducted at the
beginning of the fiscal year ended September 30, 2022**

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

Translation
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Table of contents of attachments
1. Qualitative Information on Quarterly Consolidated Financial Statements……………………………………..2(1) Overview of operating results……………………………………………………………………………………2(2) Overview of financial position……………………………………………………………………………………3(3) Overview of consolidated earnings forecasts and other forward-looking information……………………..4
2. Quarterly Consolidated Financial Statements and Major Notes………………………………………………..6(1) Quarterly consolidated balance sheet……………………………………………………………………………6(2) Quarterly consolidated statement of income and statement of comprehensive income……………………8
Quarterly consolidated statement of income …………………………………………………………………8Q2 cumulative …………………………………………………………………………………………………8
Quarterly consolidated statement of comprehensive income ……………………………………………9Q2 cumulative ………………………………………………………………………………………………9(3) Quarterly consolidated statement of cash flows ………………………………………………………………10(4) Notes regarding quarterly consolidated financial statements………………………………………………..11(Notes regarding going concern assumptions)……………………………………………………………….11(Notes regarding significant changes in shareholders’ equity)…………………………………………….11(Segment Information) …………………………………………………………………………………………11(Significant subsequent events) ………………………………………………………………………………11-1-

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

Six months ended March 31, 2024

YoY Change(October 1, 2022 to March 31, 2023)(October 1, 2023 to March 31, 2024)(%)

7,264,812

9,244,148

27.2

Operating profit

635,642922,73145.2

Ordinary profit

633,973

916,78444.6

394,368

551,697

39.9

Revenue

Profit attributable toowners of parent
a. Revenue

Revenue at GMO-FG reached ¥9,244,148 thousand (up 27.2% YoY).
Despite the general trend that the growth slows down in the three months ended March 31 every year in comparison
to the three months ended December 31 at most merchants due to seasonal factors, during the three months
ended March 31, 2024, the number of payments processed and GMV (Gross Merchandise Value), our KPIs,
showed strong growth compared to the three months ended December 31, 2023, boosted by growing inbounddemand associated with an increase in the number of foreign travelers visiting Japan.
During the three months ended March 31, 2024, the next-generation payment terminal “stera” continued to be a
key driver of sales of payment terminals which account for most of initial sales. In addition, the growth of IoT devices
in response to growing needs for unattended operation and labor-saving at stores and the high demand for mobile
devices for vehicles such as taxis also contributed to initial sales. Specifically, IoT devices introduced during thethree months ended March 31, 2024 include self-checkout registers at large-scale supermarkets in the Tokyo
metropolitan area and national chain dollar shops and automated parking payment machines at national chain coinparking lots, which contributed to growth in IoT devices.
Recurring-model revenue, consisting of stock, fee and spread revenues, generally tends to grow at a slower pacein the three months ended March 31, which includes the off-season from January to February, compared to thethree months ended December 31, which includes the peak season with year-end sales campaign. However,recurring-model revenue for the three months ended March 31, 2024 exceeded that for the three months ended
December 31, 2023 due to contributions of an increase in the number of installed payment terminals as well as arise in demand from inbound tourists.

-2-

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

Revenue by business model for the six months ended March 31, 2024 is as follows.
(Unit: Thousand Yen)
Six months ended

Six months ended

March 31, 2023

March 31, 2024

YoY Change(%)(October 1, 2022 to March
31, 2023)(October 1, 2023 to March
31, 2024)

Initial5,125,787

6,059,085

18.2

Recurring-model

2,139,025

3,185,062

48.9

Stock

(543,371)(818,678)(50.7)

Fee(1,059,585)(1,695,922)(60.1)(536,069)(670,462)(25.1)

7,264,812

9,244,148

27.2

SpreadTotal(Note) Recurring-model revenue consists of stock, fee and spread revenues. Figures in parenthesis represent a
breakdown of recurring-model revenue.
b. Operating profit
Operating profit reached ¥922,731 thousand (up 45.2% YoY).
The high growth in operating profit can be attributed to (1) a rise in composition of high-margin IoT device sales insales of payment terminals which account for most of initial sales, and (2) an increase in high-margin recurringmodel revenue due to an increase in the number and GMV (Gross Merchandise Value). Also, while we proactively
continued employment of human resources to support growth, return to officers and employees, and various growthinvestments in the three months ended March 31, 2024, we achieved a high level of growth in operating profit
through an improvement in operating leverage (Note) as a result of revenue growth.
(Note) A structure or principle where revenue growth covers costs (fixed and variable costs) and the profit
growth rate exceeds the revenue growth rate (i.e., profit margin increases).
c. Profit attributable to owners of parent
Profit attributable to owners of parent reached ¥551,697 thousand (up 39.9% YoY).

(2) Overview of financial position(a) Summary of assets, liabilities and net assets(Assets)
As of March 31, 2024, current assets increased ¥1,613,051 thousand from September 30, 2023 to ¥9,118,260
thousand. This was mainly because merchandise increased ¥948,244 thousand as we increased the payment
terminal inventory to a certain level based on the sales forecast and trade accounts receivable increased ¥372,381
thousand due to strong sales of payment terminals. Non-current assets increased ¥136,410 thousand from
September 30, 2023 to ¥1,893,441 thousand mainly due to increases in investment securities of ¥99,994 thousand
and in software of ¥97,966 thousand despite a decrease in deferred tax assets of ¥54,107 thousand.
As a result, total assets increased ¥1,749,461 thousand from September 30, 2023 to ¥11,011,702 thousand.
(Liabilities)
As of March 31, 2024, current liabilities increased ¥1,014,877 thousand from September 30, 2023 to ¥3,619,735
thousand. This was mainly due to increases in account payable of ¥481,336 thousand and in deposits received of¥437,604 thousand. Non-current liabilities increased ¥521,224 thousand from September 30, 2023 to ¥2,062,812
thousand mainly due to an increase in long term borrowing of ¥500,000 thousand.
As a result, total liabilities increased ¥1,536,101 thousand from September 30, 2023 to ¥5,682,547 thousand.

-3-

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

(Net assets)
As of March 31, 2024, total net assets increased ¥213,359 thousand from September 30, 2023 to ¥5,329,154
thousand. This was mainly because retained earnings increased ¥551,697 thousand due to recording of profit
attributable to owners of parent while retained earnings decreased ¥382,027 thousand due to distribution ofdividend from surplus.
(b) Cash flows
As of March 31, 2024, cash and cash equivalents (“cash”) increased ¥204,488 thousand from September 30, 2023
to ¥4,208,170 thousand.
The following is a summary of cash flows from each activity during the six months ended March 31, 2024.
(Cash flows from operating activities)
Net cash provided by operating activities during the six months ended March 31, 2024 was ¥484,802 thousand(net cash used of ¥1,196,051 thousand for the six months ended March 31, 2023). While cash decreased due toan increase in inventory of ¥948,312 thousand, cash increased due mainly to recording of profit before income
taxes of ¥916,784 thousand and an increase in trade payables of ¥481,336 thousand.
(Cash flows from investing activities)
Net cash used in investing activities during the six months ended March 31, 2024 was ¥415,588 thousand (netcash used of ¥293,544 thousand for the six months ended March 31, 2023) mainly because cash decreased due
to purchase of intangible fixed assets of ¥310,576 thousand and purchase of investment securities of ¥99,994
thousand.
(Cash flows from financing activities)
Net cash provided by financing activities during the six months ended March 31, 2024 was ¥135,273 thousand (netcash provided of ¥1,282,990 thousand for the six months ended March 31, 2023) mainly because cash increased
due to proceeds from long term borrowing of ¥500,000 thousand while cash decreased due to payments ofdividends of ¥382,027 thousand.

(3) Overview of consolidated financial forecast and other forward-looking information
There is no change in the consolidated financial forecast for the fiscal year ending September 30, 2024 from thosepreviously released on November 13, 2023 at this point. With consolidated operating profit for the first six months
achieving 65.4% towards the full-year consolidated financial forecast, there are no particular concerns at this point
for the business outlook for the second six months. Therefore, consolidated operating profit for the second six months
is expected to be in line with the initial forecast, and each level of profits is expected to exceed the full-year forecast
announced on November 13, 2023. Meanwhile, the full-year forecast for each level of profits remains unchanged at
this point as investments aimed at sustainable growth in future periods will be carried out as planned.

As stated above, “there are no particular concerns for the business outlook” as, in the offline cashless payment
market in which the Group operates, the number of merchants adopting the cashless payment continues to be on
the rise due to government-led promotion and diversifying payment methods as well as an increase in the number oftravelers visiting Japan. Under such environment, in the second half of the fiscal year ending September 30, 2024,
the Group will continue to focus on sales of payment terminals meeting the needs of merchants, enhancement of
payment processing centers, and acquisitions of new merchants and alliance partners. In light of the above, theconsolidated financial forecast for the fiscal year ending September 30, 2024 remains the same as those announced-4-

Translation
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on November 13, 2023 at this point and is revenue of ¥19,200 million (up 20.7% YoY), operating profit of ¥1,410
million (up 25.9% YoY), ordinary profit of ¥1,392 million (up 24.9% YoY) and profit attributable to owners of parent of¥859 million (up 15.1% YoY).

-5-

Translation
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2.` Quarterly Consolidated Financial Statements and Major Notes(1) Quarterly consolidated balance sheet
End of previous consolidated
fiscal year
(September 30, 2023)(Unit: Thousand yen)
End of Q2 of current
consolidated fiscal year
(March 31, 2024)

4,015,682
920,725

4,216,506
1,293,107

2,396,179
181,151

3,344,423
275,928△8,529△11,705

7,505,209

9,118,260

84,57579,261

1,062,072

1,160,038

Software in progress
Customer-related assets

117,035
42,810155,961
21,405

Goodwill
Other intangible fixed assets

133,31560

111,096
60

Total intangible fixed assets

1,355,293

1,448,561
99,994

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

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

183,533
36,150Allowance for doubtful accounts△1,043△1,068AssetsCurrent assets
Cash and cash equivalents
Trade accounts receivable
Merchandise
Other financial assets
Allowance of doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible fixed assets
SoftwareInvestments and other assets
Investment securities

Total investments and other assets
Total non-current assets
Total assets-6-

45,9391,068

317,161

365,618

1,757,031

1,893,441

9,262,240

11,011,702

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

End of previous consolidated
fiscal year
(September 30, 2023)(Unit: Thousand yen)
End of Q2 of current
consolidated fiscal year
(March 31, 2024)

1,075,275
201,123

1,556,612
316,227

Contract liabilities
Deposits received

89,224
375,741

182,245
813,345

Allowance for employees’ bonuses
Allowance for directors’ bonuses

392,760
107,576

284,669
104,020

Other current liabilities

363,157

362,614

Total current liabilities

2,604,857

3,619,735

1,500,000

2,000,000

4,524

12,83923,954
13,10843,4186,554

1,541,587

2,062,812

4,146,445

5,682,547

Shareholders’ equity
Capital stock

1,629,932

1,638,680

Capital surplus
Retained earnings

1,643,043
1,764,019

1,651,791
1,933,688

Treasury stock△123,529△123,529

Total shareholders’ equity

4,913,464

5,100,630

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

Non-controlling interests
Total net assets
Total liabilities and net assets-7-

202,330

228,524

5,115,795

5,329,154

9,262,240

11,011,702

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

(2) Quarterly consolidated statement of income and statement of comprehensive income
Quarterly consolidated statement of income(Q2 cumulative)
Q2 FY2023(October 1, 2022 toMarch 31, 2023)
7,264,812
5,518,271(Unit: Thousand yen)
Q2 FY2024(October 1, 2023 toMarch 31, 2024)
9,244,148
6,543,482

Gross profit

1,746,541

2,700,665

Selling, general and administrative expense

1,110,898

1,777,934

635,642922,731

11

21

Other non-operating income

3150

Total non-operating income

14

172

Interest expense
Other non-operating expenses

1,651
32

6,119

Total non-operating expenses

1,684

6,119

633,973

916,784

11,920－

Revenue
Cost of goods soldOperating profit
Non-operating income
Interest income

Non-operating expenses

Ordinary profit－

Extraordinary loss
Loss on retirement of non-current assets
Total extraordinary loss

11,920－

Profit before income taxes

622,053

916,784

Corporation income taxes, resident taxes, business taxes
Corporation income taxes deferred

182,054
41,450291,339
47,553

Total corporation income taxes

223,505

338,892

Profit398,548577,891

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

-8-

4,180

26,194394,368

551,697

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

Quarterly consolidated statement of comprehensive income(Q2 cumulative)
Q2 FY2023(October 1, 2022 toMarch 31, 2023)
398,548(Unit: Thousand yen)
Q2 FY2024(October 1, 2023 toMarch 31, 2024)
577,891

Comprehensive income

398,548577,891(Breakdown)Comprehensive income attributable to owners ofparentComprehensive income attributable to noncontrolling shareholder

394,368

551,697

4,180

26,194

Profit-9-

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

(3) Quarterly consolidated statement of cash flows(Unit: Thousand yen)
Q2 FY2024(October 1, 2023 toMarch 31, 2024)

Q2 FY2023(October 1, 2022 toMarch 31, 2023)
Cash flows from operating activities
Profit before income taxes
Depreciation
Amortization of goodwill
Increase(decrease) in allowance for employees’ bonuses
Increase(decrease) in allowance for directors’ bonuses
Increase(decrease) in provision for share-based
remuneration
Increase(decrease) in provision for share-based
remuneration for directors
Increase(decrease) in allowance for doubtful accounts
Loss on retirement of non-current assets
Interest income
Interest expense
Decrease(increase) in trade accounts receivables
Decrease(increase) in inventories
Increase(decrease) in trade payables
Increase(decrease) in deposits received
Other, net
SubtotalInterest income received
Interest expense paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Purchase of intangible fixed assets
Cash outflows from acquisition of investment securities"
Other, net

622,053

916,784

187,930
22,219216,860
22,219△119,140
2,490△108,091△3,556

2,178

8,315

5,988

19,463

7,696
11,920

3,200

△11
1,651

△21
6,119

△549,497△1,624,534
492,692
123,806△372,381△948,312
481,336437,604△66,260△12,303△878,816

667,23811

21△1,651△315,594△6,119△176,338△1,196,051

484,802－△66,968△5,017△226,560－△310,576△99,994△15－△293,544△415,588

Net increase(decrease) in short term borrowing
Proceeds from long term borrowing
Proceeds from issuance of shares resulting from exerciseof share acquisition rights
Purchase of treasury shares

1,000,000
500,000－
500,000

23,89017,495△1,137－

Dividend paid
Other, net△239,539△223△382,027△194

Net cash provided by (used in) financing activities

1,282,990

135,273

Net increase(decrease) in cash and cash equivalents△206,605

204,488

Cash and cash equivalents at beginning of period

2,387,185

4,003,682

Cash and cash equivalents at end of period

2,180,579

4,208,170

Net cash provided by (used in) investing activities
Cash flows from financing activities- 10 -

Translation
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(4) Notes regarding quarterly consolidated financial statements(Notes regarding going concern assumptions)Not applicable(Notes regarding significant changes in shareholders’ equity)
Not applicable(Segment information)[Segment information]
Segment information has been omitted as the GMO Financial Gate Group has only one business segment, namely theface-to-face payment processing services business, which is not material in terms of segment information disclosure.
(Significant subsequent matters)
Not applicable- 11 -