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

Summary of Consolidated Financial Results
for the Nine Months Ended December 31, 2022
(Based on Japanese GAAP)
January 30, 2023
Company name: OKASAN SECURITIES GROUP INC.
Stock exchange listing: Tokyo, Nagoya
Stock code: 8609
URL: https://www.okasan.jp/Representative: SHINSHIBA Hiroyuki, President
Inquiries: MIYAZAKI Nobuyuki, Senior General Manager, Treasury Planning Dept.
Phone: +81-3-3272-2222
Scheduled date to file Quarterly Securities Report: February 13, 2023
Scheduled date to commence dividend payments: –Preparation of supplementary material on quarterly financial results: Yes
Holding of quarterly financial results meeting: None
(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the nine months ended December 31, 2022 (from April 1, 2022 to December 31, 2022)(1) Consolidated operating results (cumulative)(Percentages indicate year-on-year changes)
Net operating
Profit attributable
Operating revenue
Operating profit
Ordinary profit
revenueto owners of parent
Nine months ended Millions of yen% Millions of yen% Millions of yen% Millions of yen% Millions of yen%
December 31, 2022
49,444(12.7)
48,367(13.3)(1,948)–(705)–
2,498(36.8)
December 31, 2021
56,61816.5
55,763
16.9
5,036
89.3
6,227 69.3
3,954
66.2
(Note) Comprehensive income:Nine months ended
December 31, 2022
December 31, 2021

Nine months ended December 31, 2022: ¥2,416 million [(45.9)%]
Nine months ended December 31, 2021: ¥4,468 million [(52.6)%]
Earnings
Diluted earnings
per shareper share
Yen
Yen
12.26
12.20
19.98
19.87

(2) Consolidated financial position
Total assets
Net assets
Millions of yen
Millions of yen
As of December 31, 2022
730,022
188,342
As of March 31, 2022
816,567
189,860(Reference) Equity: As of December 31, 2022: ¥175,979 million
As of March 31, 2022: ¥167,868 million

1

Equity ratio%
24.1
20.6

Net assets per shareYen
844.48847.85

2. Cash dividends
Annual dividends per share
1st quarter-end

2nd quarter-end

3rd quarter-end

Yen
Yen
Year ended–0.00
March 31, 2022
Year ending–0.00
March 31, 2023
Year ending
March 31, 2023
(Forecast)(Note) Revision to the forecast of cash dividends announced most recently: None
The dividend forecast for the fiscal year ending March 31, 2023 is still undecided.

Fiscal year-end

Total

Yen

Yen

Yen–

15.00

15.00

–––

3. Consolidated financial results forecasts for the fiscal year ending March 31, 2023 (April 1, 2022 - March 31, 2023)
The Okasan Securities Group Inc. and its subsidiaries (the “Group”) operates principally in the financial instruments business, and its
financial results are likely to be affected by market fluctuations. Because of the nature of its business and the consequential difficulty
in predicting its future performance, the Group does not disclose forecasts of financial results.
4. Notes(1) Changes in significant subsidiaries during the nine months ended December 31, 2022
(changes in specified subsidiaries resulting in the change in scope of consolidation): None
(2) Application of special accounting methods for preparing quarterly consolidated financial statements: None
(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
Changes in accounting policies due to other reasons: None
Changes in accounting estimates: None
Restatement of prior period financial statements: None
(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2022
231,217,073 shares
Number of treasury shares at the end of the period

As of March 31, 2022

As of December 31, 2022
22,827,740 shares As of March 31, 2022
Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Nine months ended December 31, 2022 203,725,208 shares

Nine months ended December 31, 2021

208,214,969 shares
10,221,299 shares
197,932,906 shares* These quarterly consolidated financial results are outside the scope of quarterly review by certified public accountants or an audit
firm.
* Explanation of the proper use of financial results forecasts and other notes
As stated in “3. Consolidated financial results forecasts for the fiscal year ending March 31, 2023”, because of the difficulty inpredicting the future performance, the dividend forecast for the fiscal year ending March 31, 2023 is still undecided.

2

Quarterly consolidated financial statements
Consolidated balance sheet(Millions of yen)
As of March 31, 2022
AssetsCurrent assets
Cash and deposits
Segregated deposits
Segregated deposits for customers
Other segregated deposits
Trading products
Trading securities and otherDerivatives
Trade date accrual
Margin transaction assets
Margin loans
Cash collateral provided for securities borrowed in
margin transactions
Loans secured by securities
Securities purchased under resale agreements
Advances paid
Short-term guarantee deposits
Accounts for non-delivered securities and others
Short-term loans receivableSecurities
Other current assets
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Retirement benefit asset
Other
Allowance for doubtful accounts
Total non-current assets
Total assets

3

As of December 31, 2022

86,94690,87487,7603,114
227,666
227,583
83
8,665
63,432
54,27868,787
94,22891,0403,188
181,316
181,202114–
83,31475,915

9,154

7,398

228,480
228,480
1,263
18,596
85
107
2,500
6,481
(16)
735,086

181,252
181,252
339
20,64238100
1,000
11,022(14)642,027

18,071
4,098
59,31051,326
2,534
6,343
(893)
81,480816,567

17,421
5,444
65,12957,5102,413
6,073(868)87,994730,022

(Millions of yen)
As of March 31, 2022
Liabilities
Current liabilities
Trading products
Trading securities and otherDerivatives
Trade date accrual
Margin transaction liabilities
Margin borrowings
Cash received for securities sold in margintransactions
Borrowings secured by securities
Cash collateral received for securities lent
Securities sold under repurchase agreements
Deposits received
Guarantee deposits received
Payables for securities to receive over due fordelivery
Short-term borrowings
Income taxes payable
Provision for bonuses
Other current liabilities
Total current liabilities
Non-current liabilities
Long-term borrowings
Deferred tax liabilities
Provision for retirement benefits for directors (andother officers)
Retirement benefit liability
Other noncurrent liabilities
Total non-current liabilities
Reserves under special laws
Reserve for financial instruments transaction
liabilities
Total reserves under special laws
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets

4

As of December 31, 2022

225,410225,361
48–
25,421
14,098168,052
167,571481
20,961
20,999
10,161

11,323

10,837

97,5181,518
96,00061,42337,00260,108
10,10850,00078,093
46,41517

25

138,513
2,781
2,020
5,500
595,610

111,929
1897183,943
511,437

11,802
7,274

12,386
6,875

208

206

6,407
4,163
29,855

5,982
3,547
28,999

1,241

1,242

1,241
626,706

1,242
541,679

18,58923,848120,984(3,733)
159,689

18,58937,273
120,516(10,091)
166,288

6,466
401
477
834
8,179
463
21,528
189,860
816,567

7,815
401
819
655
9,691
421
11,941
188,342730,022

Consolidated statement of income (cumulative) and consolidated statement of comprehensive income(cumulative)
Consolidated statement of income (cumulative)
Nine months ended December 31(Millions of yen)
Nine months ended
December 31, 2021
Operating revenue
Commission received
Brokerage commission
Commission for underwriting, secondary
distribution and solicitation for selling and others for
professional investors
Fees for offering, secondary distribution andsolicitation for selling and others for professional
investors
Other commission received
Net trading income
Financial revenue
Other operating revenue
Total operating revenue
Financial expenses
Net operating revenue
Selling, general and administrative expenses
Trading related expenses
Personnel expenses
Real estate expenses
Office expensesDepreciation
Taxes and dues
Provision of allowance for doubtful accounts
Other
Operating profit (loss)
Non-operating income
Dividend income
Share of profit of entities accounted for using equity
methodForeign exchange gains
Other
Non-operating expenses
Interest expenses
Loss on valuation of investment securities
Loss on sale and retirement of non-current assets
Share issuance costs
Other
Ordinary profit (loss)

5

Nine months ended
December 31, 2022

35,214
14,72132,317
11,840

749

441

8,098

8,591

11,644
19,035
1,633
734
56,618854
55,76350,726
8,698
25,140
6,192
5,020
2,186
847
(4)
2,645
5,036
1,291
787

11,443
14,7681,660
698
49,444
1,077
48,36750,316
8,620
24,874
5,981
5,681
1,915
845
(3)
2,400
(1,948)
1,409
741

35

23

198
270
101
30
1232
–
25
6,227

558
85
165
20
33
30
35
47(705)

(Millions of yen)
Nine months ended
December 31, 2021
Extraordinary income
Gain on change in equity
Gain on sale of investment securities
Gain on sales of investments in capital of subsidiaries
and associates
Reversal of reserve for financial instruments transaction
liabilities
Total extraordinary income
Extraordinary losses
Impairment losses
Loss on sale of investment securities
Loss on valuation of investment securities
Provision of reserve for financial instruments transaction
liabilities
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit (loss) attributable to non-controlling interests
Profit attributable to owners of parent

6

Nine months ended
December 31, 2022
–289

2,771
291

93–

0–

383

3,063

67
344–
2850–1115
6,495
1,497
711
2,209
4,286
332
3,954

80
2,277
144(363)(218)
2,496(2)2,498Consolidated statement of comprehensive income (cumulative)
Nine months ended December 31(Millions of yen)

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

7

Nine months ended
December 31, 2021
4,286

Nine months ended
December 31, 2022
2,496

340
132
(235)

(123)
341
(180)

(54)

(117)

182
4,468

(80)
2,416

4,328

4,010

140

(1,594)