(Note) Please note that the following is an excerpt translation of the Japanese original prepared only for reference
purposes. In the case of any discrepancy between the translation and the Japanese original, the latter shall prevail.

Consolidated Financial Results
for the Second Quarter of the Fiscal Year ending March 31, 2023
(Japanese GAAP)
October 31, 2022
Name of Listed Company: INV Inc.
Exchange Listing: Tokyo Stock Exchange
Representative: Takeshi Kawaji, CEO

URL: https://www.inv.inc/en/Stock Code: 7338
Contact: Yuichiro Omura, Director

Scheduled Start Date of Dividend Payment: December 2, 2022
Scheduled Filling Date of Quarterly Report: November 11, 2022
Supplementary documents available pertaining to financial results: Yes
Financial results briefing: None
(All amounts rounded down to the nearest million yen)

1.Consolidated Financial Results for the Second Quarter of the Fiscal Year ending March 31, 2023
(From April 1, 2022 to September 30, 2022)(percentage shows Y/Y change)(1) Consolidated Operating Results (Cumulative)(Unit: millions of yen)
OperatingRevenue
Three months ended

September 30, 2022
September 30, 2021

2,825
2,196Net Operating
Revenue%

28.6-Operating
Income%

24.0-

2,672
2,156

192200Net Profit
Attributable to Owner ofParentOrdinary
Income%(3.9)-%%(88.6)-6153813 (96.2)
348(Note)Comprehensive Income: Six months ended September 30, 2022: 392 million yen (15.9)%
Six months ended September 30, 2021: 465 million yen -%Net Profitper share
Six months ended

September 30, 2022
September 30, 2021

Net Profit perShare (Diluted)
yenyen2.28
59.31

2.27-(2) Consolidated Financial Position
Total Assets
As ofSeptember 30, 2022
March 31, 2022

Shareholders’Equity Ratio

Net Assets

Millions of yen

Millions of yen

126,448
125,409%

11,918
11,666

9.4
9.3(Reference)Shareholders' Equity: As of September 30, 2022: 11,909 million yen
As of March 31, 2022:
11,658 million yen

2. Dividends
Dividends
End of 1Q

Fiscal Year ended March 31, 2022
Fiscal Year ending March 31, 2023
Fiscal Year ending March 31, 2023 (forecast)yen-

End of 2Q

End of 3Q

yenyen

18.00
19.00

Year-endyen

Totalyen-

24.00

42.00

-

19.00

38.00

(Note) Revision to forecasts of dividend at the end of this period : None

3. Consolidated Financial Results Forecast for the Fiscal year ending March 2023
(From April 1, 2022 to March 31, 2023)
The company does not disclose consolidated financial results forecasts due to the difficulty in predicting business results
as the financial instruments business and asset exchange business are strongly influenced by economic and market
conditions. Instead, the Company provides operating revenue and other sales indicators on a monthly basis.

Consolidated Balance Sheet(Unit: millions of yen)As of

As ofMarch 31, 2022

September 30, 2022

AssetsCurrent assets
Cash and deposits
Segregated deposits

12,04240,206

8,321
31,828Segregated deposits for customers
Division deposits for customers
Other segregated deposits
Short-term guarantee deposits
Foreign exchange deposit receivable
Short-term loan receivable
Other
Allowance for doubtful accounts

17,55022,59263
49,554
19,411
1,798
353
(5)

8,400
23,33592
54,93027,931945
438(2)

Total current assets

123,361

124,391

Property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Investments in capital
Deferred tax assets
Other
Allowance for doubtful accounts

279
529
1,238
107
834
61
235
(0)

254
498
1,303
107
1,009
63
124
(0)

Total non-current assets

2,047

2,056

125,409

126,448

96,094
5,889
10,588
267
37
47
527

96,904
4,653
12,023
88
30
14
459

113,451

114,174

Deferred tax liabilities
Other

211
71

300
43

Total non-current liabilities

283

348

Reserve for financial instruments transaction liabilities

77

Total reserves under special laws

77

113,742

114,530

Non-current assets

Total assets
Liabilities
Current liabilities
Guarantee deposits received
Short-term borrowings
Foreign exchange deposit payable
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and other officers)
Other
Total current liabilities
Non-current liabilities

Reserves under special laws

Total liabilities

(Unit: millions of yen)

As of

As of

March 31, 2022

September 30, 2022

Net assets
Shareholders' equity
Share capital
Capital surplus

500
7,646

500
7,646

Retained earnings
Treasury Stock

3,013
(0)

2,885(0)Total shareholders' equity

11,15911,032

Valuation difference on available-for-sale securities
Foreign currency translation adjustment

528(30)759
117

Total accumulated other comprehensive income

498

876

88

11,666

11,918125,409

126,448

Accumulated other comprehensive income

Share acquisition rights
Total net assets
Total liabilities and net assets

Consolidated Statements of Income(Unit: millions of yen)

Second Quarter of FY Second Quarter ofFY ending
ended
March 31, 2022
Operating revenue
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 cost
Depreciation
Taxes and dues
Other
Total selling, general and administrative expenses
Operating income
Non-operating income
Gain on investments in investment partnerships
Other
Total non-operating income
Non-operating expenses
Foreign exchange losses
Loss on investments in investment partnerships
Other
Total non-operating expenses
Ordinary income
Extraordinary income
Reversal of reserve for financial instruments transaction liabilities
Gain on reversal of share acquisition rights
Total extraordinary income
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Net income
Net income attributable to owners of parent

March 31, 2023

422
1,496
54
223
2,196
40
2,156

557
1,809
226
231
2,825
152
2,672

458
784
473
38
74
76
50
1,955
200

648
943
612
62
111
53
48
2,479
192

344
1
345

0
0

70
7
538

21
106
4
131
61

000539204(13)
190
348
348

00
62
55(7)
48
13
13

Segment income statement
Second Quarter of Fiscal year ending March 31, 2023 (From April 1,2022 to September 30, 2022)

(Unit: millions of yen)Segments
Total

Consolidation
adjustment

Total

Domestic

Overseas

1,577

1,095

2,672

-

2,672

467

321

789

-

789

Commission received

332

225

557

-

557

Other operating revenue

135

96

231

-

231

1,221

815

2,036

-

2,036

(111)

(41)

(152)

-

(152)

1287

100

(100)

-

1,589

1,183

2,772

(100)

2,672

84

187

272

(79)

192

Net operating revenue
Net operating revenue from external
Revenue from contracts with customerNet trading income and financial revenue
Other
Intersegment net operatingtransfer
Total net operating revenue
Segment operating incomerevenueand