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.

November 13, 2023

Consolidated Financial Results
for the Six Months Ended September 30,2023(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 file quarterly securities report:
Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results briefing:

November 13,2023
December 4,2023
None
None

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the Six Months ended September 30,2023 (from April 1,2023 to
September 30,2023)(1) Consolidated operating results (cumulative)
OperatingRevenue
Six Months ended

Millions ofyen(Percentages indicate year-on-year changes.)

Net operating
revenue
Millions ofyen%

Operating profit%

Millions ofyen

Profit attributable toowners of parent

Ordinary profit%

Millions ofyen%Millions ofyen

September 30,2023
4,614
4.4
4,520
5.7
1,863
4.4
1,846
4.1
September 30.2022
4,419
41.5
4,277 42.4
1,785
93.7
1,773
91.2
Note: Comprehensive income For the Six Months ended September 30,2023: 1,526 Millions of yen [0.4%]
For the Six Months ended September 30,2022: 1,521 Millions of yen [58.0%]

Basic earnings
per share
Six Months ended

1,505
1,491

%

0.9
54.4

Diluted earnings
per share
Yen

Yen

September 30,2023

52.49

September 30,2022

51.11-(2) Consolidated financial position

As ofTotal assets

Net assets

Millions of yen

Millions of yen

September 30,2023

107,203

March 31,2023

88,317

Reference

Equity: As of September 30,2023:
As of March 31,2023:

Equity-to-asset ratio%Yen

12,77811.9

448.74

11,97513.6

416.91

12,765 Millions of yen
11,975 Millions of yen

1Net assets per share2. Cash dividends
Annual dividends per shareFirst quarter-end

Second quarter-end

Third quarter-end

Yen

Yen

Yen

Fiscal year ended
March 31,2023
Fiscal year ending
March 31,2024-

0.00

-

8.00

Fiscal yearending March 31,2024(Forecast)Fiscal year-end

Total

Yen

Yen-

17.00

17.00

---

Note: Revisions to the forecast of cash dividends most recently announced: None
The year-end dividend forecast for the fiscal year ending March 31,2024 yet been determined at this point.

3. Financial Forecasts for the Fiscal Year Ending March 31,2024 (from April 1,2023 to March 31,2024)(Percentages indicate year-on-year changes.)
OperatingRevenue
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

10,100

9.8

4,000

6.9

4,000

7.2

3,000

(6.8)

105.02

Note: Revisions to financial forecasts disclosed most recently: None2

* 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: 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 September 30,2023

29,538,647 shares

As of March 31,2023

29,538,647 shares(ii) Number of treasury shares at the end of the period
As of September 30,2023

1,091,244 shares

As of March 31,2023

815,364 shares(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscalyear)
Six Months ended September 30,2023

28,675,307 shares

Six Months ended September 30,2022

29,189,833 shares* 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 tothe Company and certain assumptions deemed to be reasonable. Actual results may differ significantly from theforecasts 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
ⅰ. Quarterly Consolidated Balance Sheets(Millions of yen)Previous fiscal year
(As of March 31, 2023)
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 advance paid
Long-term deposits
Deferred tax assets
Other
Allowance for doubtful accounts
Total non-current assets
Total assets

4

Current quarter(As of September 30, 2023)

5,235
6
72,646
72,634
12
543
7,119
6,762
352
5
779
(10)
86,3206,312
090,62490,607
17
1,143
6,369
6,016
347
5575
(22)
105,002

285
213
(6)
207
132
(54)
78
638
609
29
1,072
173
172
543
356(173)
1,997
88,317288
218(28)190
166(69)
97
684
683
1
1,228
20
170
185
524
498
(170)
2,200
107,203(Millions of yen)Previous fiscal year
(As of March 31, 2023)
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
Current portion of bonds payable
Income taxes payable
Provision for bonuses
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Provision for retirement benefits for
directors (and other 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
incomeShare acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets

5Current quarter(As of September 30, 2023)

20820
73,083

156
25
91,25072,94991,153

134

96

860
72
100
288
181
411
75,226

932
72
100
346
452
93,334

600
463

600
427

16

24

36
0
1,115
76,34238
0
1,090
94,424

1,564
901
9,768
(310)
11,922

1,564
961
10,785(619)
12,691

52

74

52

74

11,97588,31712
0
12,778107,203

ⅱ. Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (for the six months)(Millions of yen)Six months ended
September 30, 2022
Operating revenue
Commission received
Net trading income
Financial revenueOther sales
Other
Total operating revenue
Financial expenses
Cost of sales
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
Other
Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Reversal of provision for bonuses
Total extraordinary income
Extraordinary losses
Head office relocation expenses
Other
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

6

Six months ended
September 30, 2023

49
4,184
0
180
3
4,419
26
115
4,277

36
4,449
0
126
4,614
26
67
4,520

1,140
885
242
38
116
41
26

914
1,039
363
41
152
48
97

2,492

2,657

1,785

1,863

0
7
3
110
10
2

6
142231,773

6
11
119
1,846-

33

1,773
281
281
1,491
1,491

18
1
20
1,828
304
18
323
1,505
(0)
1,505

Quarterly Consolidated Statements of Comprehensive Income(for the six months)(Millions of yen)Six months ended
September 30, 2022
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

7

Six months ended
September 30, 2023

1,491

1,5052929
1,521

21
21
1,526

1,520

1,5260(0)ⅲ. Quarterly Consolidated Statements of Cash Flows(Millions of yen)Six months ended
September 30, 2022
Cash flows from operating activities
Profit before income taxes
Depreciation
Share-based payment expenses
Relocation expenses
Interest and dividend income
Interest expenses
Decrease (increase) in cash segregated as
deposits for customers
Decrease (increase) in trading products - assets(liabilities)
Decrease (increase) in short-term guarantee
deposits
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Decrease (increase) in advance paid
Increase (decrease) in allowance for doubtful
accounts
Decrease (increase) in other current assets
Increase (decrease) in deposits received
Increase (decrease) in guarantee deposits
received
Increase (decrease) in provision for bonuses
Increase (decrease) in accrued expenses
Increase (decrease) in other current liabilities
Increase (decrease) in provision for retirement
benefits for directors (and other officers)
Increase (decrease) in retirement benefit
liability
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes refund (paid)
Payments of relocation expenses
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
Purchase of investment securities
Payments of guarantee deposits
Payments of long-term deposits
Other, net
Net cash provided by (used in) investing
activities

8Six months ended
September 30, 2023

1,773
116
0(0)
61,82815220
18(0)6(7,832)(17,973)

1,019(652)(2,832)

750

38
2
6

6
52(17)

9114(0)

128
4

7,615

18,166(129)
(322)

(181)
37(3)

68(2)

22(435)
0(6)
(284)
-2
2,339
0(6)
(165)
(18)

(725)

2,149

(6)
(145)
2(156)
(3)
(2)

(44)
(153)
(20)
(0)
(12)
(7)

(311)

(238)

(Millions of yen)Six months ended
September 30, 2022
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 shares
Other, net
Net 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

9Six months ended
September 30, 2023

1072

100
(40)
(320)
(300)
-(36)
(488)
(403)
0(552)(855)

27

20(1,562)

1,076

5,227
3,664

5,235
6,312