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 Fiscal Year ended March 31, 2022
(Japanese GAAP)
April 28, 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 Date of Ordinary General Meeting of Shareholders: June 28, 2022Scheduled Start Date of Dividend Payment: June 29, 2022
Scheduled Filling Date of Annual Securities Report: June 28, 2022
Supplementary documents available pertaining to financial results: Yes, Financial results briefing: No(All amounts rounded down to the nearest million yen)

1.Consolidated Financial Results for the Fiscal Year ended March 31, 2022 (From April 1, 2021 to March 31, 2022)(1) Consolidated Operating Results (Cumulative)(percentage shows Y/Y change)(Unit: millions of yen)
OperatingRevenue
Fiscal year ended

March 31, 2022
March 31, 2021

Net OperatingRevenue

Operating
Income%

5,158
4,379

17.8-%

4,981
4,227

17.8-783
180

Net Profit
Attributable to Owner ofParentOrdinary
Income%%334.4-

1,047 606.6
148-%80860-(Note)Comprehensive Income: Fiscal year ended March 31, 2022: 1,154 million yen (456.0%)
Fiscal year ended March 31, 2021: 207 million yen (-%)
Net Profitper share
Fiscal year ended

March 31, 2022
March 31, 2021

Net Profit per
Share (Diluted)

Return on Equity Return on Assets

Operating Income
Ratioyenyen%%%137.5410.29

137.07-7.20.6

0.9
0.1

15.2
4.1

Net Assets

Shareholders’Equity Ratio(Reference) Equity in earnings of affiliates: Fiscal year ended March 31, 2022: Fiscal year ended March 31, 2021: -(2) Consolidated Financial Position
Total Assets
As ofMarch 31, 2022
March 31, 2021

Net Assets
per Share

Millions of yen

Millions of yen%yen

125,409112,132

11,666
10,7269.3
9.6

1,983.92
1,824.52

Cash Flows from
Financing Activities

Cash and cash
equivalents at the end(Reference)Shareholders' Equity: As of March 31, 2022: 11,658 million yen.
As of March 31, 2021: 10,721 million yen(3) Consolidated Cash Flows
Cash Flows fromOperating Activities
Fiscal year ended

March 31, 2022
March 31, 2021

Cash Flows from
Investing Activities

Millions of yen

Millions of yen

Millions of yen

Millions of yen

2,404
621

(815)
(123)

3,841
(2,612)

11,375
5,835

2. Dividends
Dividends
End of Q1
Fiscal year ended

End of Q2 End of Q3 Year-end

Total

Total
Dividend

Payout
Ratio

Dividend on
Payout ratio

yenyenyenyenyen

Millions of yen%%---

19.00

19.00

111

184.6

1.0

March 31, 2022

-

18.00

-

24.00

42.00

246

30.5

2.2

March 31, 2023 (forecast)

-

19.00

-

19.00

38.00

---

March 31, 2021

(Note) As the company was established on October 1, 2020, no results are available until the second quarter of the previous year.

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 marketconditions. Instead, the Company provides operating revenue and other sales indicators on a monthly basis.

Consolidated Balance Sheet(Unit: millions of yen)
As ofMarch 31, 2021

AssetsCurrent assets
Cash and deposits
Segregated deposits
Segregated deposits for customers
Division deposits for customers
Segregated deposits for others
Short-term guarantee deposits
Foreign exchange deposit receivable
Short-term loans receivable
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings
Other
Intangible assets
Software
OtherInvestments and other assets
Investment securities
Investments in capital
Deferred tax assets
Other
Allowance for doubtful accounts
Total non-current assets
Total assets
Liabilities
Current liabilities
Guarantee deposits received
Short-term borrowings
Advance received
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
Deferred tax liabilities
Other
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

As ofMarch 31, 2022

6,943
31,6788,950
22,432295
52,955
17,608
1,119
354
(3)
110,656

12,04240,206
17,55022,59263
49,554
19,411
1,798
353
(5)
123,361

137
85
51
448
251
196
890
119
514
38
218
(0)
1,476
112,132

279
224
55
529
518
10
1,238
107
834
61
235
(0)
2,047
125,40983,4961,800
259
15,2105437
19
420
101,297

96,0945,889
010,588
267
37
47
527
113,451

86
13
100

211
71
283

7
7
101,4067
7
113,742500

500

Consolidated Balance Sheet

Capital surplus
Retained earnings
Treasury Stock
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total accumulated other comprehensive income
Share acquisition rights
Total net assets
Total liabilities and net assets(Unit: millions of yen)
As ofMarch 31, 2021
7,646
2,422
10,569As ofMarch 31, 2022
7,646
3,013
(0)
11,159235(83)152
410,726112,132

528
(30)
498
8
11,666
125,409

Consolidated Statements of Income(Unit: millions of yen)
Fiscal year ended
March 31, 2022

Fiscal year ended
March 31, 2021
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
Gain on sale of crypto assets
Other
Total non-operating income
Non-operating expenses
Foreign exchange losses
Loss on investments in investment partnerships
Loss on retirement of non-current assets
Loss on withdrawal from business
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
Extraordinary loss
Loss on valuation of securities
Loss on sale of securities
Total extraordinary loss
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to owners of parent

806
2,956
179
436
4,379
151
4,227

913
3,563
208
473
5,158
177
4,981

1,025
1,345
1,194
44
203
161
72
4,047
180

983
1,665
1,021
94
168
133
130
4,197
783

39
5
45

284
1285

51
11
9
5
77
148

18
2
21
1,047

0

0

0
0

00

149
75
1288
60
60

8
4
13
1,035
256(29)
227
808
808

Consolidated Statements of Cash Flows(Unit: millions of yen)
Fiscal year ended
March 31, 2021

Cash flows from operating activities
Profit before income taxes
Depreciation
Reserve for financial transaction liabilities (Decrease)
Reversal of share acquisition rights
Interest and dividend income
Interest expense
Gain or loss on investments in investment partnerships (Gain)
Cash segregated deposits for customers (Increase)
Cash division deposits for customers (increase)
Short-term guarantee deposits (Increase)
Guarantee deposits received (Decrease)
Foreign exchange deposit receivable (Increase)
Foreign exchange deposit payable (Decrease)
Operating loans receivable (Increase)
Loss on disposal of non-current assets
Valuation and sales of securities (Gain)
Sale of cryptographic assets (Gain)
Sale of tangible fixed assets (Gain)
Foreign exchange loss (Gain)
Allowance for doubtful accounts (Decrease)
Other
SubtotalInterest and dividends received
Income taxes refund (Paid)
Amount of interest (Paid)
Net Cash flows from operating activities
Cash flows from investing activities
Purchase of property, plant and equipment and intangible assets
Payment into time deposits
Proceeds from sale of crypto assets
Proceeds from dividend from investments in capital
Investments in investments in capital
Payments for lease deposits
Other
Net Cash flows from investing activities
Cash flows from financing activities
Dividends Paid
Short-term borrowings (Decrease)
Payments for repurchase of shares from noncontrollingshareholders
Repayments of lease obligations
Other
Net Cash flows from financing activities
Effect of exchange rate change on cash and cash equivalents
Net in cash and cash equivalents (Decrease)
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

Fiscal year ended
March 31, 2022149
203
(0)
(0)
(0)
4
51
(6,648)(4,820)(2,764)
11,586
8,388(5,875)
469
11(39)
(2)
(3)
(1)
194
901
0(275)
(4)
621

1,035
168
(0)
(0)
(0)
14
(284)
(7,451)(34)
4,019
11,765(1,781)(4,713)
(679)
13
8
2267
2,348
0
68
(14)
2,404

(334)
303
(92)
(123)

(226)
(600)
128
(10)
(44)
(22)
(815)

(217)
(2,300)

(217)
4,089

(68)

-

(25)
(2,612)49(2,065)
7,900
5,835

(34)
4
3,841
109
5,540
5,835
11,375

Segment income statement
Fiscal year ended March 31, 2022 (From April 1,2021 to March 31, 2022)(Unit: millions of yen)Segments

Consolidation
adjustment

TotalTotal

Domestic

Overseas

3,109

1,871

4,981

-

4,981

778

608

1,386

-

1,386

Commission received

481

432

913

-

913

Other operating revenue

297

176

473

-

473

2,408

1,363

3,771

-

3,771

(76)

(101)

(177)

-

(177)

956

66

(66)

-

Total net operating revenue

3,118

1,928

5,047

(66)

4,981

Segment operating income

454

351

805

(21)

783

Net operating revenue
Net operating revenue from external
Revenue from contracts with customer

Net trading income and financial revenue
Financial expenses
Intersegment net operating revenue and transfer