Note: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.

July 31,2024

Consolidated Financial Results
for the Three Months Ended June 30, 2024
(Under Japanese GAAP)
Company name: Traders Holdings Co., Ltd.
Listing:
Tokyo Stock Exchange (Standard Market)
Securities code:
8704
URL:
https://www.tradershd.com/
Representative:
Takayuki Kanamaru, Chairman and President
Inquiries:
Masayuki Niizuma, Executive Managing Director
Telephone:+81-3-6736-9850
Scheduled date to commence dividend payments:Preparation of supplementary material on financial results : Yes
Holding of financial results briefing: No(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the Three Months ended June 30, 2024 (from April 1, 2024 to June 30,2024)(1) Consolidated operating results (cumulative)
Operating
Revenue(Percentages indicate year-on-year changes.)

Net operating
revenue

Operating profit

Profit attributable toowners of parent

Ordinary profit

Millions ofyen%Millions ofyen%Millions ofyen%Millions ofyen%Millions ofyen%June 30, 2024

3,513

23.7

3,486

25.1

2,054

29.0

2,051

29.6

1,485

13.2

June 30, 2023

2,840

18.5

2,787

19.5

1,593

43.8

1,582

43.5

1,312

37.9

Three Months ended

Note: Comprehensive income

For the Three Months ended June 30, 2024: 1,499 Millions of yen [ 12.9%]
For the Three Months ended June 30, 2023: 1,328 Millions of yen [ 35.9%]
Basic earnings
per share

Three Months ended

Diluted earnings
per share
Yen

Yen

June 30, 2024

53.24

-

June 30, 2023

45.68

-

(2) Consolidated financial position

As ofJune 30, 2024
March 31, 2024
Reference Equity:

Total assets

Net assets

Millions of yen

Millions of yen

127,220

Equity-to-asset ratio%

15,191

11.9

118,193
14,121
As of June 30, 2024:
15,123 Millions of yen
As of March 31, 2024:
14,070 Millions of yen

11.9

-1-

2. Cash dividends
Annual dividends per shareFirst quarter-end

Second quarter-end

Third quarter-end

Yen

Yen

Yen

Fiscal year ended
March 31, 2024
Fiscal year ending
March 31, 2025-

Fiscal year-end

Total

Yen

Yen

8.00

-

16.00

24.00

12.00

-

-

-

-

Fiscal year
ending March 31, 2025
(Forecast)

Note: Revisions to the forecast of cash dividends most recently announced: None
The year-end dividend forecast for the fiscal year ending March 31, 2025 yet been determined at this point.

3. Financial Forecasts for the Fiscal Year Ending March 31, 2025 (from April 1, 2024 to March 31, 2025)(Percentages indicate year-on-year changes.)
Operating
Revenue

Full year

Operating profit

Profit attributableto owners of parent

Ordinary profit

Basic earnings
per share

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

11,800

16.8

5,000

13.3

5,000

13.9

3,400

2.0

121.88

Note: Revisions to financial forecasts disclosed most recently: None

* Notes(1) Significant changes in the scope of consolidation during the period: None
(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements:
None(3) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: None(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
(4) Number of issued shares (common shares)(i)

Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2024

29,538,647 shares

As of March 31, 2024

29,538,647 shares(ii) Number of treasury shares at the end of the period
As of June 30, 2024

1,642,184 shares

As of March 31, 2024

1,641,124 shares(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal
year)
Three Months ended June 30, 2024

27,897,159 shares

Three Months ended June 30, 2023

28,722,980 shares* Review of the Japanese-language originals of the attached consolidated quarterly financial statements bycertified public accountants or an audit firm: Yes (voluntary)* Proper use of earnings forecasts, and other special matters(Caution over forward-looking statements, etc.)
Forecasts and other forward-looking statements in this document are based on information currently available to the Company andcertain assumptions deemed to be reasonable. Actual results may differ significantly from the forecasts due to various factors. For
the conditions underlying the results forecasts and notes on the use of the results forecasts, please see “1. Overview of operating
results, etc.., (3) Explanation of the consolidated results forecasts and other forward-looking information” on page 3 of the attacheddocument.
(Method for acquisition of supplementary explanatory materials on the financial results)- The company will disclose supplementary explanatory materials on the financial results on TDnet on the same day and also post
them on the company’s website.

○Table of Contents of Attached Documents
1.

2.

Overview of operating results, etc.

………………………………………………………………………………………

2(1) Overview of the operating results for the quarter under review ……………………………………………………

2(2) Overview of financial position during the quarter under review……………………………………………………

3(3) Explanation of the consolidated results forecasts and other forward-looking information…………………………

3

Quarterly Consolidated Financial Statements ……………………………………………………………………………

4(1) Quarterly Consolidated Balance Sheets ……………………………………………………………………………

4(2) Quarterly Consolidated Statements of Income and Comprehensive Income ………………………………………

6

Quarterly Consolidated Statements of Income ……………………………………………………………………

6

Quarterly Consolidated Statements of Comprehensive Income……………………………………………………

7(3) Notes on the quarterly consolidated financial statements……………………………………………………………

8(Notes on segment information, etc.)……………………………………………………………………………

8(Notes on significant changes in the amount of shareholders’ equity) …………………………………………

9(Notes on going concern assumption) ……………………………………………………………………………

9(Notes on quarterly consolidated statement of cash flows)………………………………………………………

9(Notes on important subsequent events)…………………………………………………………………………

10

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1.

Overview of operating results, etc.
The forward-looking statements in this document were judged as of the last day of the quarterly consolidated accounting period
under review.
(1) Overview of the operating results for the quarter under review
In the first quarter consolidated accounting period, the Japanese economy saw the long-term decline in real wages due to rising
prices continue, and although income and employment improved moderately, personal consumption remained sluggish.
Corporate profits remained solid in general due to factors such as improvements in profitability resulting from price revisions
and an increase in inbound demand. On the other hand, although signs of economic recovery were apparent overseas on thewhole, the impact of the long-term continuation of monetary tightening in Europe and the United States, the impacts associatedwith the stagnation of the real estate market in China, and the downside risks for overseas economies caused by geopolitical risks
such as the invasion of Ukraine and conflict in the Middle East put downward pressure on Japan’s economy and the outlook
continued to be uncertain.
In the foreign exchange (hereinafter referred to as “FX”) market, the US dollar to yen exchange rate, which started at 151.29
yen to 1 US dollar in April 2024, saw yen depreciation accelerate to the 155 yen to 1 US dollar level as yen-selling and dollarbuying advanced against the backdrop of the gap in interest rates between Japan and the United States. Moreover, as the Bankof Japan decided to maintain its current monetary policy at the Monetary Policy Meeting held on April 26, the sense of caution
over an early rate hike by the Bank of Japan reduced, and the yen plummeted to 160 to 160.5 yen against the US dollar on April
29. Subsequently, the government and the Bank of Japan intervened over the exchange rate and the yen rallied. The exchange
rate fluctuated roughly by close to 6 yen in one day. Into May, the yen fluctuated unstably as the government and the Bank ofJapan intervened over the exchange rate again, and US employment data fell short of market expectations, surging to the 151
yen level against the US dollar. After that, the yen turned to its weakening tendency again due to persistent yen-selling, dollarbuying demand by importing companies, and the weakening yen advanced to the 157 yen level against the US dollar. In June,
yen appreciation advanced temporarily to the 154 yen level against the US dollar due to the downturn of US economic indicators,
but due to expectations that Japan-US monetary policy will be maintained for the time being, the invigoration of carry trading
spurred the yen’s tendency to weaken. On June 28, the yen recorded 161.20 yen to 1 US dollar, its lowest level since December
1986, and at the end of the first quarter consolidated accounting period, trading ended at 160.88 yen to 1 US dollar.
Under such market conditions, financial instruments trading business centered on FX trading business, the primary businessof the company group, provided services for Minna no FX (FX margin trading), LIGHT FX (FX margin trading), Minna no
Sistre (FX margin trading using automated trading tools), Minna no Options (FX option trading), and Minna no Coin (crypto
asset margin trading) at Traders Securities Co., Ltd., (hereinafter referred to as “Traders Securities”), a subsidiary, to securerevenue. Assets deposited by FX clients, an important indicator in securing FX revenue, amounted to 106,618 million yen(increase of 5,601 million yen or 5.5% from the end of the previous consolidated accounting year) at the end of the first quarter
consolidated accounting period. Trading profit or loss for the first quarter consolidated accounting period was significantly higher
than the previous year at 3,456 million yen (increase of 709 million yen or 25.8% compared to the same period last year) due tothe rate of fluctuation of FX prices trending at extremely high levels while we accumulated deposited assets steadily.
In addition, the system development and system consulting business operated by FleGrowth Co., Ltd., (hereinafter referred toas “FleGrowth”), a subsidiary, developed, maintained and operated an FX trading system for Traders Securities, and provided
external clients with fintech services such as FX trading and crypto-asset margin trading-related system development, DX support
in fields such as logistics and healthcare, web production and sales consulting to secure revenue. During the first quarter
consolidated accounting period, operating revenue from external customers in system development and system consulting
business was lower than the previous year at 25 million yen (decrease of 51 million yen or 66.8% compared to the same period
last year).
As a result of the above, total operating revenue was 3,513 million yen (increase of 673 million yen or 23.7% compared to thesame period last year), and net operating revenue after deducting cost of sales and financial expenses was 3,486 million yen(increase of 698 million yen or 25.1% compared to the same period last year).
On the other hand, selling, general and administrative expenses were 1,431 million yen (increase of 237 million yen or 19.9%
compared to the same period last year). This was due mainly to trading related expenses increasing to 486 million yen (increaseof 147 million yen or 43.3% compared to the same period last year) as we implemented web advertising positively to increase
assets deposited by customers effectively in FX trading business.
As a result, operating profit was 2,054 million yen (increase of 461 million yen or 29.0% compared to the same period lastyear), ordinary profit was 2,051 million yen (increase of 468 million yen or 29.6% compared to the same period last year), andprofit before income taxes was 2,051 million (increase of 477 million yen or 30.4% compared to the same period last year).
Total income taxes were 566 million yen (increase of 304 million yen compared to the same period last year) due to income
taxes (current) increasing to 388 million yen (increase of 140 million yen or 56.4% compared to the same period last year) due-2-to an increase in profit before income taxes, and income taxes (deferred) increasing to 178 million yen (increase of 164 million
yen compared to the same period last year) as a result of reversing deferred tax assets to reflect the appropriation of loss carriedforward.
As a result of the above, profit attributable to owners of parent for the first quarter consolidated accounting period was 1,485
million yen (increase of 173 million yen or 13.2% compared to the same period last year).
Operating results by segment were as follows.
(Financial instruments trading business)
Operating revenue in this segment, which is managed by Traders Securities, was 3,487 million yen (increase of 725 million
yen or 26.2% compared to the same period last year) and segment profit was 1,792 million yen (increase of 475 million yen or
36.1% compared to the same period last year).
The number of customer accounts and deposited assets of FX trading business and crypto-asset margin trading business asof the end of the first quarter consolidated accounting period were as follows.
Number of customer accounts
Deposited assets

565,840 accounts (increase of 15,017 accounts compared to the end of the previous
consolidated accounting year)
106,618 million yen (increase of 5,601 million yen compared to the end of theprevious consolidated accounting year)(System development and system consulting business)
Operating revenue in this segment, which is managed by FleGrowth, was 751 million yen (increase of 4 million yen or 0.6%
compared to the same period last year). The breakdown of this revenue shows internal sales of FX trading and crypto-asset
CFD trading system development, maintenance and operation to Traders Securities, a group company, of 725 million yen(increase of 56 million yen or 8.5% compared to the same period last year), and revenues from external customers 25 million
yen (decrease of 51 million yen or 66.8% compared to the same period last year). Segment profit was 241 million yen (increaseof 31 million yen or 11.6% compared to the same period last year).
(2) Overview of financial position during the quarter under review
Total assets at the end of the first quarter consolidated accounting period increased by 9,027 million yen compared to the endof the previous consolidated fiscal year to 127,220 million yen. This was due mainly to segregated deposits for customers
increasing by 6,714 million yen and short-term guarantee deposits increasing by 3,463 million yen while trading products, foraccrued receivables such as valuation gains for FX cover clients, decreased by 883 million yen.
Total liabilities increased by 7,956 million yen compared to the end of the previous consolidated fiscal year to 112,028 million
yen. This was due mainly to deposits received increasing by 7,688 million yen.
Net assets increased by 1,070 million yen compared to the end of the previous consolidated fiscal year to 15,191 million yen.
This was due mainly to profit attributable to owners of parent increasing by 1,485 million yen, while net assets decreased due toa dividend of 446 million yen.
(3) Explanation of the consolidated results forecasts and other forward-looking information
There has been no change to the full-year consolidated results forecasts announced in the “Consolidated Financial Results for
the Fiscal Year Ended March 31, 2024” on April 30, 2024.

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2. Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheets(Millions of yen)Previous fiscal year
(As of March 31,2024)
AssetsCurrent assets
Cash and deposits
Segregated deposits
Segregated deposits for customers
Other segregated deposits
Trading products
Short-term guarantee deposits
Margin deposits for foreign exchanges
Margin deposits for crypto assets
Margin deposits for other assets
Work in process
Other
Allowance for doubtful accounts

Current quarter(As of June 30,2024)

8,850
99,572
99,556
16
1,200
5,970
5,569
396
5
1
806
(23)

9,085
106,286
106,270
16
316
9,434
9,036
392
5
2
465
(6)

Total current assets
Non-current assets
Property, plant and equipment
Buildings
Accumulated depreciation

116,378

125,584

257
218
(50)

243
218
(61)

Buildings, net
Tools, furniture and fixtures
Accumulated depreciation

168
166
(78)

157
173
(86)

Tools, furniture and fixtures, net
Intangible assets
Software
Other
Investments and other assets
Investment securities
Long-term advances paid
Deferred tax assets
Other
Allowance for doubtful accounts

88
744
702
41
813
100
20
275
435
(19)

86
760
724
36
631
100
19
97
432
(18)

Total non-current assets
Total assets

-4-

1,814

1,636

118,193

127,220

(Millions of yen)Previous fiscal year
(As of March 31,2024)
Liabilities
Current liabilities
Trading products
Deposits received
Guarantee deposits received
Margin deposits received for foreign exchanges
Margin deposits received for crypto assets
Short-term borrowings
Current portion of long-term borrowings
Current portion of bonds payable
Income taxes payable
Provision for bonuses
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Provision for retirement benefits for directors (andother officers)
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Foreign currency translation adjustment
Total accumulated other comprehensive income
Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets-5-

Current quarter(As of June 30,2024)

298
26
100,113
99,977
136
1,127
393
600
505
273
546

622
106
107,801
107,707
94
1,104
407
600
420
89
653

103,884

111,806

112

128

33

39

41
0

53
0

187

222

104,071

112,028

1,564
961
12,386
(921)

1,564
961
13,425(921)

13,991

15,029

78

93

78

93

49
0

67
1

14,121

15,191

118,193

127,220

(2). Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (for the Three Months)(Millions of yen)Three Months ended
June 30,2023

Three Months ended
June 30,2024

Operating revenue
Commission received
Net trading income
Financial revenue
Other sales

15
2,746
0
77

29
3,456
2
25

Total operating revenue
Financial expenses
Cost of sales

2,840
13
39

3,513
12
14

Net operating revenue
Selling, general and administrative expenses
Trading related expenses
Personnel expenses
Real estate expenses
Office expenses
Depreciation
Taxes and dues
Other

2,787

3,486

339
478
188
25
68
31
62

486
567
160
17
85
52
61

1,194

1,431

Operating profit
Non-operating income
Interest and dividend income
Subsidy income
Other

Total selling, general and administrative expenses

1,593

2,054

0
0

0
2
0

Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
Other

0

3

3
8
0

2
4
0

Total non-operating expenses

127

Ordinary profit
Extraordinary income
Reversal of provision for bonuses

1,582

2,051

3

0

Total extraordinary income
Extraordinary losses
Head office relocation expenses
Other

3

0

9
1

-

Total extraordinary losses

11

-

1,573
248
13

2,051
388
178

261

566

1,312

1,485

-

(0)

1,312

1,485

Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitLoss attributable to non-controlling interests
Profit attributable to owners of parent-6-

Quarterly Consolidated Statements of Comprehensive Income (for the Three Months )(Millions of yen)Three Months ended
June 30,2023

Three Months ended
June 30,2024

ProfitOther comprehensive income
Foreign currency translation adjustment

1,312

1,485

16

14

Total other comprehensive income

16

14

1,328

1,499

1,328

1,499

-

(0)

Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to noncontrolling interests-7-(3) Notes on the quarterly consolidated financial statements(Notes on segment information, etc.)
1. Previous first quarter consolidated accounting period (from April 1, 2023 to June 30, 2023)
Information on the amounts of sales and profit or loss in reporting segments(Millions of yen)

Reconciling
items(Note)2Per
quarterly
consolidated
financialstatements(Note)3

2,840

-

2,840

-

668

(668)

-

3,509

-

3,509

(668)

2,840

1,590

(5)

1,585

8

1,593

Reportable segments
Financial
Instruments
Trading

SystemDeveloping
and System
Consulting

Reportablesegments

Revenues fromexternal customers

2,762

77

2,840

-

Transactions withother segments

-

668

668

Operating revenue

2,762

746

Segment profit or
loss

1,316

273

Other
(Note)1

Total

Sales

(Notes) 1. “Other” is a business segment not included in the reporting segments and includes investment business.
2. The 8 million yen adjustment of segment profit or loss includes the elimination of inter-segment transactions andcompany-wide expenses not allocated to each segment. Company-wide expenses are mainly general andadministrative expenses not attributable to a reporting segment.
3 Segment profit or loss has been adjusted with the operating profit of the quarterly consolidated statement of income.

2. Current first quarter consolidated accounting period (from April 1, 2024 to June 30, 2024)
Information on the amounts of sales and profit or loss in reporting segments(Millions of yen)

Reconciling
items(Note)2Per
quarterly
consolidated
financialstatements(Note)3

3,513

-

3,513

-

725

(725)

-

4,238

-

4,238

(725)

3,513

2,034

(6)

2,027

26

2,054

Reportable segments
Financial
Instruments
Trading

SystemDeveloping
and System
Consulting

Reportablesegments

Revenues fromexternal customers

3,487

25

3,513

-

Transactions withother segments

-

725

725

Operating revenue

3,487

751

Segment profit or
loss

1,792

241

Other
(Note)1

Total

Sales

(Notes) 1. “Other” is a business segment not included in the reporting segments and includes investment business.
2. The 26 million yen adjustment of segment profit or loss includes the elimination of inter-segment transactions andcompany-wide expenses not allocated to each segment. Company-wide expenses are mainly general andadministrative expenses not attributable to a reporting segment.
3. Segment profit or loss has been adjusted with the operating profit of the quarterly consolidated statement of income.

-8-

(Notes on significant changes in the amount of shareholders’ equity)
Ⅰ Previous first quarter consolidated accounting period (from April 1, 2023 to June 30, 2023)
Dividends paid
(Resolution)

Class ofsharesJune 27, 2023
Ordinary General
Meeting of
Shareholders

CommonsharesTotal amount of Dividend per
dividends
share(million yen)
(yen)
488

17

Reference date

Effective date

Source ofdividends

March 31, 2023

June 28, 2023

Retainedearnings

II Current first quarter consolidated accounting period (from April 1, 2024 to June 30, 2024)
Dividends paid
(Resolution)

Class ofsharesJune 26, 2024
Ordinary General
Meeting of
Shareholders

CommonsharesTotal amount of Dividend per
dividends
share(million yen)
(yen)
446

16

Reference date

Effective date

Source ofdividends

March 31, 2024

June 27, 2024

Retainedearnings(Notes on going concern assumption)
Not applicable.
(Notes on quarterly consolidated statement of cash flows)
The company has not prepared a quarterly consolidated statement of cash flows for the first quarter consolidated accounting
period.
Depreciation (including depreciation related to intangible assets) related to the first quarter consolidated accounting period
is as follows.
Previous first quarter consolidated
Current first quarter consolidated
accounting period
accounting period(From April 1, 2023
(From April 1, 2024
to June 30, 2023)
to June 30, 2024)
Depreciation
68 million yen
85 million yen-9-(Notes on important subsequent events)(Disposal of treasury shares as transfer-restricted stock compensation)
At the meeting of the Board of Directors held on July 17, 2024, the company resolved to dispose of treasury stock(hereinafter referred to as “Disposal of Treasury Stock” or “Disposal”) as transfer-restricted stock compensation.
1. Overview of the Disposal(1)

Payment dateAugust 7, 2024

(2)Class and number of shares disposed of

201,900 common shares of the company(3)

Disposal price820 yen per share(4)

Disposal amount

165 million yen(5)People subject to the assignment ofshares, the number of such people, andthe number of shares to be assigned

Directors of the company (excluding Directors Who Are Audit andSupervisory Committee Members and Outside Directors.), 3 people,
201,900 shares

(6)

Other

The company has submitted an extraordinary report pursuant to the
Financial Instruments and Exchange Act with regard to the Disposal ofTreasury Stock.

2. Aim and reasons for disposition
At the 25th Ordinary General Meeting of Shareholders held on June 26, 2024, the company received approval for the total
amount of monetary compensation claims to be paid for the allocation of transfer-restricted stock to subject directors based on
the transfer-restricted stock compensation system (hereinafter referred to as “System”) to be no more than 300 million yen peryear, and for the total number of common shares of the company to be issued or disposed of based on the System to be no
more than 800,000 shares per year (however, if a stock split (including a free-of-charge assignment of the company’s commonshares) or merger of the company’s common shares is carried out, or if another reason requiring the adjustment of the total
number of the company’s common shares to be issued or disposed of as transfer-restricted stock, that total number may be
adjusted to the extent reasonable).
In consideration of the aim of the System, the business conditions of the company, the scope of responsibilities of eachsubject director, and various other circumstances, the company decided to grant the subject directors total monetarycompensation claims of 165 million yen (hereinafter referred to as “Monetary Compensation Claims”) and a total of 201,900of the company’s common shares (hereinafter referred to as “Assigned Shares”).
Through this Disposal of Treasury Stock, the three subject directors who are the planned recipients will pay the company
all of the Monetary Compensation Claims as property contributed in kind and will receive the disposition of the Assigned
Shares of the company based on the System.
(Issue of share acquisition rights as stock options)
At a meeting of the Board of Directors held on July 17, 2024, the company resolved to issue share acquisition rights as
stock options to employees of the company and of its subsidiaries based on the provisions of Article 236, Article 238 and
Article 240 of the Companies Act.
1. Reason for issuing share acquisition rights as stock options
The company will issue stock acquisition rights as stock options to employees of the company and its subsidiaries aimed atfurther strengthening the linkage between the company’s results and share price, and at further raising the motivation andmorale of employees of the company and its subsidiaries to contribute to the improvement of medium to long-term businessresults and corporate value.
2. Outline of the issue of share acquisition rights(1) Date of issue of share acquisition rights
August 7, 2024
(2) People subject to the assignment of share acquisition rights, the number of such people, and the number of shareacquisition rights to be assigned
Employees of the company and its subsidiaries, 25 people, 1,012 rights(3) Class and number of shares underlying the share acquisition rights
101,200 common shares of the company (100 shares per share acquisition right)(4) Share acquisition right payment amountNo payment of money will be required in exchange for share acquisition rights.

- 10 -

(5) Amount to be paid in upon exercise of share acquisition rights
820 yen per share(6) Period for the exercise of share acquisition rights
From July 18, 2026 to July 17, 2034
(7) Matters concerning capital and capital reserve, which will increase if issuing shares due to the exercise of shareacquisition rights
Half of the amount established in Article 17 of the Ordinance on Company Accounting will be recorded as capitalas the amount of property paid or delivered at the time of exercise (the maximum amount of increase in capital, etc.)(if the calculation results in a fraction of less than one yen, the amount rounded up.), and the remainder will be recorded
as capital reserve.

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