Note: This document has been translated from 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.

November 14, 2022

Consolidated Financial Results
for the Six Months Ended September 30, 2022
(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:+81-3-4330-4700
Scheduled date to file quarterly securities report:
November 14,2022
Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results: None
Holding of quarterly financial results briefing:
None(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the six months ended September 30,2022 (from April 1,2022 toSeptember 30, 2022)(1) Consolidated operating results (cumulative)(Percentages indicate year-on-year changes.)

Net operating
revenue

Operatingrevenue
Millions ofyen%Millions ofyen

Operating profit
Millions ofyen%

Profit attributable toowners of parent

Ordinary profit%

Millions ofyen%Millions ofyen

Six months ended
4,419 41.5
4,070 39.6
1,785 93.7
1,773 91.2
September 30,2022
September 30.2021
3,123 (1.1)
2,916 (0.4)
921
3.4927 11.8
Note: Comprehensive income For the six months ended September 30,2022: 1,521 Millions of yen [58.0%]
For the six months ended September 30.2021:
962 Millions of yen [31.9%]

Basic earnings
per share

Diluted earnings
per share

Six months ended

Yen

Yen

September 30,2022

51.11

－

September 30,2021

33.14－(2) Consolidated financial position

As ofTotal assets

Net assets

Millions of yen

Millions of yen

Equity-to-asset ratio

Net asset per share%

Yen

September 30,2022

82,813

10,27312.4

357.61March 31,2022

74,099

9,250

12.5

317.40[Reference]Shareholder’s Equity: As of September 30,2022: 10,273 Millions of yen
As of March 31,2022:
9,250 Millions of yen

1%

1,491

54.4

966

32.3

2. Dividends
Annual dividends per shareFirst quarter-end

Second quarter-endThird quarter-end

Yen

Yen

Yen－

0.00

－0.00

Fiscal year
ended March 31,2022
Fiscal year ending
March31,2023
Fiscal year
ending March31,2023(Forecast)Fiscal year-end

Total

Yen

Yen－

11.00

11.00

－－－

Note: Revisions to the forecast of cash dividends most recently announced: None
The year-end dividend forecast for the fiscal year ending March 31, 2023 yet been determined at this point.

3. Financial Forecasts for the Fiscal Year Ending March 31,2023(From April 1 ,2022 to March 31,2023)
Operatingrevenue
Millions ofyen

Full year

8,900(Percentages indicate year-on-year changes.)

Operating profit%

25.7

Millions ofyen

3,000

Ordinary profit%

26.5

Millions ofyen

3,000%

27.1

Profit attributableto owners of parent
Millions ofyen

2,400

Basic earnings
per share%

Yen

9.6

82.88

Note: Revisions to financial forecasts disclosed most recently: Yes
At the meeting of the Board of Directors held on August 10, 2022, the Company resolved to acquire its own shares in accordancewith the provisions of Article 156 of the Companies Act, as applied pursuant to the provisions of Article 165 (3). " Basic earnings pershare" in the consolidated earnings forecast for the fiscal year ending March 31, 2023 takes into account the impact of the acquisitionof treasury shares.

2* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change
in scope of consolidation): 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:Yes(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 September 30,2022

29,538,647shares

As of March 31,2022

29,160,947shares(ii) Number of treasury shares at the end of the period
As of September 30,2022

811,324shares

As of March 31,2022

15,784shares(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscalyear)
Six months ended September 30,2022

29,189,833shares

Six months ended September 30,2021

29,149,057shares* Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants
or an audit corporation.
* Proper use of earnings forecasts, and other special matters
Forecasts and other forward-looking statements in this document are based on information currently available
to the Company and certain assumptions deemed to be reasonable. Actual results may differ significantly fromthe forecasts due to various factors.
* This document is an English translation of a Japanese announcement made on the date above. Although the we
intended to faithfully translate the Japanese document into English, the accuracy and this English translation is
not guaranteed and thus you are encouraged to refer to the original Japanese document.

3

Quarterly consolidated financial statements
Consolidated balance sheets
Previous fiscal year
(As of March 31, 2022)
AssetsCurrent assets
Cash and deposits
Work in process
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
OtherAllowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings
Accumulated depreciation
Buildings, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
Intangible assets
Software
Other
Investments and other assets
Investment securities
Long-term advances paid
Long-term deposits
Deferred tax assets
Other
Allowance for doubtful accounts
Total non-current assets
Total assets

4(Millions of yen)
Current quarter(As of September 30, 2022)

5,227
2
61,352
61,341
11
1,141
4,558
4,331
221
5570
(30)
72,821

3,664－
69,18569,173
12
473
7,391
7,052
334
5
529
(18)
81,2274661(42)19103(76)
26
490
489
1741
120
185
161
350
107(183)
1,277
74,099

44
61
(43)
18
110(83)
26
529
528
1
1,012
116
176
165
350
379
(176)
1,586
82,813

(Millions of yen)
Current quarter(As of September 30, 2022)

Previous fiscal year(As of March 31, 2022)
Liabilities
Current liabilities
Trading products
Deposits received
Guarantee deposits received
Margin deposits received for foreignexchanges
Margin deposits received for crypto
assetsShort-term borrowings
Current portion of long-term borrowings
Income taxes payable
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Retirement benefit liability
Provision for retirement benefits for
directors (and other officers)
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
incomeTotal net assets
Total liabilities and net assets

5242
19
61,379593
1968,99561,356

68,850

23

145

849
54
207
901
63,656

860
72
309
451
71,301

700
458
34

700
499
32－

6

0
1,192
64,84901,238
72,540

1,500
842
6,870
(7)
9,205

1,564
901
8,042(308)
10,198

4574

45

74

9,250
74,09910,27382,813

Quarterly consolidated statements of income (cumulative)(Millions of yen)Six months ended
September 30, 2021
Operating revenue
Commission received
Net trading income
Financial revenue
Other sales
Other
Total operating revenue
Financial expenses
Other costs
Net operating revenue
Selling, general and administrative expenses
Trading related expenses
Personnel expenses
Real estate expenses
Office expenses
Depreciation
Taxes and dues
Other
Total selling, general and administrative
expenses
Operating profit
Non-operating income
Interest and dividend income
Subsidy income
Gain on investments in silent partnerships
Other
Total non-operating income
Non-operating expenses
Interest expenses
Commission expenses
Foreign exchange losses
Other
Total non-operating expenses
Ordinary profit

6

Six months ended
September 30, 2022

22
2,912
0
182
5
3,123
25
181
2,916

49
4,184
0
180
3
4,419
26
322
4,070

850
691
249
31
103
32
34

1,140
678
242
38
116
41
26

1,994

2,284

921

1,785

10－
51
170
7－
3
116－
50
11927

6
1
14
1
23
1,773

(Millions of yen)Six months ended
September 30, 2021
Extraordinary incomeGain on sale of shares of subsidiaries andassociates
Other
Total extraordinary income
Extraordinary losses
Provision of allowance for doubtful accounts
Loss on valuation of investment securities
Total extraordinary losses
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

7

Six months ended
September 30, 2022

0－

00－
－

14
1227
900
52(117)
(65)
965
(0)
966－
－－
1,773
281－
281
1,491－
1,491

Consolidated statements of comprehensive income(cumulative)(Millions of yen)Six months ended
September 30, 2021
ProfitOther comprehensive income
Foreign currency translation adjustment
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to ownersof parent
Comprehensive income attributable to noncontrolling interests

8

Six months ended
September 30, 2022
965

1,491

(2)
(2)
962

29
29
1,521

963

1,520(0)0Consolidated statements of cash flows(Millions of yen)Six months ended
September 30, 2022

Six months ended
September 30, 2021
Cash flows from operating activities
Profit before income taxes
Depreciation
Interest and dividend income
Loss (gain) on valuation of investment
securities
Loss (gain) on sale of shares of subsidiaries
and associates
Interest expenses
Other non-operating expenses (income)Decrease (increase) in cash segregated as
deposits for customers
Decrease (increase) in trading products - assets(liabilities)
Decrease (increase) in short-term guarantee
deposits
Increase (decrease) in allowance for doubtful
accounts
Decrease (increase) in trade receivablesDecrease (increase) in inventories
Decrease (increase) in advance paid
Decrease (increase) in other current assets
Increase (decrease) in deposits and guarantee
deposits received
Increase (decrease) in provision for loss on
business liquidation
Increase (decrease) in provision for retirement
benefits for directors (and other officers)
Increase (decrease) in retirement benefit
liability
Increase (decrease) in accrued expenses
Increase (decrease) in other current liabilities
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes refund (paid)
Net cash provided by (used in) operating
activities
Cash flows from investing activities
Purchase of property, plant and equipment
Purchase of intangible assets
Proceeds from sale of investment securities
Payments of guarantee deposits
Proceeds from collection of loans receivable
Increase in long term deposits
Proceeds from collection of long term deposit
Other, net
Net cash provided by (used in) investing
activities

9900
103
(10)

1,773
116
(0)

12－

(0)

－

6(5)

6
1

(3,883)(7,832)

1,710

1,019

(1,955)(2,832)

(14)

(17)

25－2754

38
2
6115

3,631

7,614

(6)

－－

62(2)

(164)
(36)
2
400
9(6)
45(129)(322)
0(435)
0(6)
(284)

449

(725)

(13)
(112)
－(4)
42(133)
150
6(6)
(145)
2(156)
－(3)
－
(2)

(63)

(311)

(Millions of yen)Six months ended
September 30, 2022

Six months ended
September 30, 2021
Cash flows from financing activities
Net increase (decrease) in short-termborrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Dividends paid
Purchase of treasury sharesNet cash provided by (used in) financing
activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

1060

10200
(63)
(291)
(0)

100
(40)
(320)
(300)

(95)

(552)

(5)

27

284

(1,562)

4,420
4,704

5,227
3,664