Japan Asia Investment Co., Ltd.
Fund Consolidation

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 theJapanese original, the original shall prevail. JAIC assumes no responsibility for thistranslation or for direct, indirect or any other forms of damages arising from thetranslation.

Consolidated Financial Results
for the First Quarter Ended June 30, 2024
[Japanese Standards](Summary of Japanese announcement)
August 14, 2024
Company name:

Japan Asia Investment Co., Ltd.

Listed on:

Tokyo Stock Exchange, Standard Market (Stock code: 8518)

Head office:Tokyo

Representative:

Shun Maruyama, Representative Director, President & CEO

Contact:

URL: https://www.jaic-vc.co.jp/

Kenji Kishimoto, Board Director, Managing Executive Officer CFO
Tel: +81-3-3221-8518 (main)

Scheduled date for start of payment of dividends: —The additional materials of the Financial Results: Yes
The briefing session of the Financial Results: None
(Throughout this report, fractional amounts have been rounded down to the nearest one million yen.)
1.

Consolidated business results for the first quarter ended June 30, 2024 (April 1, 2024 to June 30, 2024)(1) Consolidated results of operations (cumulative total)(Percentages indicate year-on-year increase or decrease)
Operating revenue

Operating income

Ordinary income

Millions of yen % change

Millions of yen % change

Millions of yen % change

Profit attributable toowners of parent
Millions of yen % change

For three months ended
June 30, 2024

822

(6.8)

211

31.8

195

51.6

180

－

For three months ended
June 30, 2023

882

125.0

160

－

129

－

(100)

－

(Note) Comprehensive Income
For three months ended June 30, 2024: 211 millions of yen (－%)
For three months ended June 30, 2023: (468) millions of yen (－%)

Yen

Diluted net income
per share
Yen

10.11

10.05

(5.70)－

Total assets
Millions of yen

Net assets
Millions of yen

Net income per share
For three months ended
June 30, 2024
For three months ended
June 30, 2023

(2) Consolidated financial position
Equity ratio%

Net assets per share
Yen

As of June 30, 2024

18,593

7,239

36.4

304.74As of March 31, 2024

16,796

6,132

33.0

312.71(Reference) Total shareholders' equity As of June 30, 2024: 6,767 millions of yen As of March 31, 2024: 5,536 millions of yen

1

Japan Asia Investment Co., Ltd.
Fund Consolidation

2. Dividends(Base date)Year ended March 31,2024
Year ending March 31,2025
Year ending March 31,2025(forecast)End of first quarter
Yen－

End of second quarter
Yen

Dividends per share
End of third quarter
Yen

End of year
Yen

Year
Yen

0.00

－

0.00

0.00

0.00

－

0.00

0.00

－

(Note) Revision of dividends forecast during the current quarterly period: None
3. Outlook for the fiscal year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)
The overall private equity investment business conducted by the Group (including investment partnerships) is significantly affectedby changing factors such as stock markets, given the characteristics of the business. In addition, it has been difficult to forecast
results reasonably in the rapidly changing environment. Therefore, we do not disclose the results forecast. For the convenience ofinvestors and shareholders, however, we disclose “result forecast consolidated under the Previous Accounting Standard” eventhough it doesn’t have enough rationality. For details, please refer to “2. Outlook for the fiscal year ending March 31, 2025 (April 1,
2024 to March 31, 2025)” on page 15 in this report.
The “result forecast consolidated under the Previous Accounting Standard” and any other forward-looking statements in thisdocument are based upon the information currently available to JAIC at the time of writing and certain assumptions. The
achievement is not promised. Numerous factors could cause actual results to differ materially from these result forecasts. For details,
please refer to “3. Business Performance and Financial Condition (3) Result forecast consolidated under the Previous AccountingStandard” on page 23 in “Consolidated Financial Results for the Year Ended March 31, 2024 [Japanese Standards]” disclosed on
May 15, 2024.
4. Other matters(1) Significant changes in the scope of consolidation during the period: Yes[New - company (company name: -)Excluded 1 company (company name: 1 Investment Fund)](2) Adoption of specific accounting methods for the preparation of quarterly consolidated financial statements: None
(3) Changes in accounting principles, accounting estimates and correction of prior period errors(i) Changes in accounting principles due to revisions to accounting standards: Yes(ii) Changes other than shown in (i) above: None(iii) Changes in accounting estimates: None(iv) Correction of prior period errors: None
(Note) For details, please refer to “3. Consolidated Financial Statements (4) Notes on Quarterly Consolidated Financial
Statements” on page 12 of the attached documents for detailed information.
(4) No. of shares issued and outstanding (common stock)(i) Shares issued and outstanding at
Three months ended
the end of each period (including
June 30, 2024:
treasury stock)(ii) Shares of treasury stock at theThree months ended
end of each period
June 30, 2024:(ii) Average number of shares
Three months ended
during the period (cumulative
June 30, 2024:
quarterly consolidated period)

22,284,392
sharesYear ended March
31, 2024:

17,884,392
shares78,009sharesYear ended March
31, 2024:

181,009
shares17,851,834
sharesThree months ended
June 30, 2023:

17,703,383
shares* Review of the Japanese-language originals of the attached quarterly consolidated financial statements by certified
public accountants or an audit firm: None.
*Cautionary Statements with Respect to Forward-looking Statements and Other Notes
The additional materials of the financial results for the first quarter ended June 30, 2024 will be released on our website on
August 14, 2024 (Japanese-language only).
The “result forecast consolidated under the Previous Accounting Standard” and any other forward-looking statements inthis document are based upon the information currently available to the Group at the time of writing and certain
assumptions. The achievement is not promised. Numerous factors could cause actual results to differ materially from these2

Japan Asia Investment Co., Ltd.
Fund Consolidation

result forecasts. For details, please refer to “2. Outlook for the fiscal year ending March 31, 2025 (April 1, 2024 to March
31, 2025)” on page 15 in this report and “3. Business Performance and Financial Condition (3) Result forecast consolidated
under the Previous Accounting Standard” on page 23 in “Consolidated Financial Results for the Year Ended March 31,
2024 [Japanese Standards]” disclosed on May 15, 2024.

3

Japan Asia Investment Co., Ltd.
Fund Consolidation

1. Business Performance and Financial Condition(1) Breakdown of operating revenue and operating cost
(Millions of yen)
For three months ended
June 30, 2023
(from April 1, 2023
to June 30, 2023)

For three months ended
June 30, 2024
(from April 1, 2024
to June 30, 2024)

For the year ended
March 31, 2024
(from April 1, 2023
to March 31, 2024)

Total operating revenue

882

822

2,444

Management fees

30

30

123

600

71

1,244

243

709

1,023

7

10

53

Total operating cost

411

292

2,279

Cost of securities sold

67

75

621

161

0

777

179

212

863

Other operating cost

3

4

16

Operating gross profit

470

529

165

Proceeds of sales of operational
investment securities
Fund interests income and Income
gains etc.
Other operating revenue

Investment write-offs & Provision
for allowance for possible
investment losses
Fund interests losses etc.

(2) Breakdown of Loans payable and bonds(Millions of yen)
As of June 30, 2023

As of June 30, 2024

As of March 31, 2024

Total of loans payable and bonds

8,682

10,291

9,833

Loans payable;
Non-consolidated base

4,825

3,996

4,314

Loans payable by project financeand bonds;
Consolidated projects

3,857

6,295

5,519

4

Japan Asia Investment Co., Ltd.
Fund Consolidation

2. Business Position(1) JAIC-Backed IPOs (JAIC+Funds)i)Number of IPOs

Number of IPOs (totalof Japan & overseas)
First price multiple(average of Japan &overseas)

For three months ended
June 30, 2023
(from April 1, 2023
to June 30, 2023)

For three months ended
June 30, 2024
(from April 1, 2024
to June 30, 2024)

For the year ended
March 31, 2024
(from April 1, 2023
to March 31, 2024)

1 company－

1 company

1.4 times－

1.4 times

Note: First price multiple = Market value of shares held by the Group calculated at first price/Total our acquisition cost.
We do not include listed shares those we acquired by equity swaps when we calculate the first price multiple.
ii) JAIC-Backed IPOs
For three months ended June 30, 2024 (from April 1, 2024 to June 30, 2024)
No applicable items
Fiscal year ended March 31, 2024 (from April 1, 2023 to March 31, 2024)
Company
Date ofMarketBusiness
Name
IPO
Operation of coin-operated parking
JAPAN SYSTEMBANK
14-Apr-23
NSE Mainlots, sales and maintenance of
CORPORATION
parking equipment

HeadquartersJapanⅲ) Unrealized gains and losses on listed operating investment stocks (Note)

Unrealized gain (loss)

For three months ended
June 30, 2023
(from April 1, 2023
to June 30, 2023)

For three months ended
June 30, 2024
(from April 1, 2024
to June 30, 2024)

152

1(Millions of yen)
For the year ended
March 31, 2024
(from April 1, 2023
to March 31, 2024)(0)

Note: “Unrealized gain (loss)” shows the amount attributable to the Group of the difference between the acquisition cost
and the amount recorded on the quarterly consolidated balance sheet or consolidated balance sheet of the stock listed on
the stock exchange among the stocks held as operating investment securities by the Group and by the investment funds
managed under the Group.

5

Japan Asia Investment Co., Ltd.
Fund Consolidation(2) Management of Investment Funds (Funds for which JAIC and its Group are responsible formanagement and provision of essential information)i) Balance of funds under management
For three months ended
June 30, 2023
(from April 1, 2023
to June 30, 2023)
Commitment Net asset
value ofamount of investment
Number of investment
funds
funds
funds

For three months ended
June 30, 2024
(from April 1, 2024
to June 30, 2024)
Commitment Net asset
value ofamount of investment
Number of investment
funds
funds
funds

For the year ended
March 31, 2024
(from April 1, 2023
to March 31, 2024)
Commitment Net asset
value ofamount ofinvestment
Number of investment
funds
funds
funds

(Millions of (Millions of(Millions of (Millions of(Millions of (Millions of
yen)

yen)

6

12,612

3,928

－

－

－

－

－

2

2,885

881

3,887

8

yen)

yen)

7

12,596

3,887

－

－

－

2,238

－

－

6,195

7

yen)

yen)

6

11,712

3,957

－

－

3

4,685

Duringoperation
periodMaturity is
being extended
Duringliquidation
procedure
Total[Totalcommitment
amount9of

16,397[3,404]

12,596[1,544]

15,497[2,428]

4,809

JAIC group]ii) Funds during operation period (as of June 30, 2024)
Name of fund

Inception

Total commitment
amount(Millions of yen)

Maturity

Features
Secondary investment fund targeting

JAIC Venture Capital
Investment L.P.

Feb. 2016

Feb. 2026

2,000

mainly venture companies in Japan.
Domestic leading financial institution
invested in this fund.
General partner of the Fund is a joint
venture between JAIC and Aozora Bank,

Succession Investment
Limited Partnership, I

Jun. 2017

Jun. 2027

3,000

Ltd. an affiliated company not covered by
the equity method.
Supporting the business succession needs of
SMEs in Japan.

JAIC-Solar Fund, L.P., II

Mar. 2020

Dec. 2039

1,359

Investment target of the Fund is mega solar
projects in operation.
JAIC and Asian Market Planning Co., Ltd.

Hokkaido SME Global
Fund, L.P.

jointly manage the Fund as Co-GP.
Apr. 2020

Dec. 2026

100

Investing in SMEs in Hokkaido that operateor aim to operate in oversea market and that
promote business to meet inbound demand6

Japan Asia Investment Co., Ltd.
Fund Consolidation

Name of fund

Inception

Total commitment
amountMaturity(Millions of

Featuresyen)
Secondary investment fund targeting
mainly venture companies in Japan.

AJC Venture Capital
Investment Limited

Jun. 2021

Jun. 2031

1,001

Partnership

General partner of the Fund is a joint
venture between JAIC and Aozora Bank,
Ltd. an affiliated company not covered by
the equity method.
Supporting the business succession needs ofSuccession Investment
Limited Partnership, Ⅱ

Aug. 2022

Aug. 2032

5,101

SMEs in Japan. Managed by AJ CapitalCo., Ltd, a joint venture between JAIC and
Aozora Bank, Ltd.
Venture capital fund targeting mainly

JAIC Wealth Fund, L.P

Jun. 2024

Dec. 2033

35

venture companies in Japan assuming thatprivate banks and wealthy individuals are
the main investors

Notes:
1. The amounts stated for funds denominated in foreign currencies are calculated based on the exchange rate prevailingon the final day of the fiscal year-end. Therefore, changes in assets under management include the amount affectedby exchange rates.
2. The total amount of fund is listed as the amount of commitment base.

7

Japan Asia Investment Co., Ltd.
Fund Consolidation
3. Consolidated Financial Statements(1) Consolidated Balance Sheets(Millions of yen)
As of March 31, 2024

As of June 30, 2024

AssetsCurrent assets
Cash and deposits

2,544

3,568

Operational investment securities

7,067

6,636

Allowance for possible investment loss

(1,136)(840)

Operating loans

218

218

Other

358

676

Allowance for doubtful accounts

(103)

(103)

Total current assets

8,948

10,157

Buildings and structures

1,711

2,049

Accumulated depreciation

(141)

(166)

Buildings and structures, net

1,570

1,882

Machinery and equipment

3,807

4,850

Accumulated depreciation

(720)

(788)

Machinery and equipment, net

3,086

4,062

Vehicles, tools, furniture and fixtures

240

228

Accumulated depreciation

(76)

(78)

Vehicles, tools, furniture and fixtures, net

164

149

Land

369

399

Non-current assets
Property, plant and equipment

Construction in progress

786

141

5,977

6,634

1,195

1,147

132

124

1,328

1,271

Investment securities

75

62

Distressed receivables

103

103

Other

466

466

Allowance for doubtful accounts

(103)

(103)

Total investments and other assets

542

529

7,847

8,435

16,796

18,593

Total property, plant and equipment
Intangible assets
Power production facilities concessions
Other
Total intangible assets
Investments and other assets

Total non-current assets
Total assets

8Japan Asia Investment Co., Ltd.
Fund Consolidation(Millions of yen)
As of March 31, 2024

As of June 30, 2024

Liabilities
Current liabilities
Short-term borrowings

901

Current portion of bonds payable

1,690

8

8

Accrued expenses

158

398

Income taxes payable

55

31

Provision for bonuses

45

27

Other

160

168

1,330

2,325

162

162

Long-term borrowings

8,761

8,430

Deferred tax liabilities

13

14

Total current liabilities
Non-current liabilities
Bonds payable

Retirement benefit liability

127

129

Asset retirement obligations

254

290

Other

13

－

Total non-current liabilities

9,333

9,028

10,663

11,353

Share capital

5,426

5,925

Capital surplus

3,631

3,966

Retained earnings(3,576)(3,396)

Treasury shares

(353)

(152)

Total shareholders' equity

5,126

6,343

Valuation difference on available-for-sale securities

71

77

Deferred gains or losses on hedges

(13)

9

Foreign currency translation adjustment

351

336

Total accumulated other comprehensive income

409

423

Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income

Share acquisition rights

36－

Non-controlling interests

560

472

6,132

7,239

16,796

18,593

Total net assets
Total liabilities and net assets

9Japan Asia Investment Co., Ltd.
Fund Consolidation(2) Consolidated Statements of Income

Operating revenue

882(Millions of yen)
For three months ended
June 30, 2024
(from April 1, 2024
to June 30, 2024)
822

Operating costs

411

292

Operating gross profit

470

529

For three months ended
June 30, 2023
(from April 1, 2023
to June 30, 2023)

Selling, general and administrative expenses

310

318

Operating profit

160

211

1

0

Non-operating income
Interest income
Dividend income

00Foreign exchange gains

11

41

Rental income from facilities

1

1

Miscellaneous income

00

Total non-operating income

1543Interest expenses

44

46

Share issuance costs－

12

Miscellaneous losses

10

Non-operating expenses

Total non-operating expenses

46

59

129

195

Subsidy income

34－

Total extraordinary income

34－

Loss on retirement of non-current assets

00Loss on tax purpose reduction entry of non-current
assets34－

Total extraordinary losses

34

0

128

195

Ordinary profit
Extraordinary income

Extraordinary losses

Profit before income taxes
Income taxes - current

1

1

Total income taxes

1

1Profit127

194

Profit attributable to non-controlling interests

228

13

Profit (loss) attributable to owners of parent

(100)

180

10

Japan Asia Investment Co., Ltd.
Fund Consolidation(3) Consolidated Statements of Comprehensive Income(Millions of yen)
For three months ended
June 30, 2024
(from April 1, 2024
to June 30, 2024)

For three months ended
June 30, 2023
(from April 1, 2023
to June 30, 2023)
Profit

127

194

(628)

9

Deferred gains or losses on hedges－

22

Foreign currency translation adjustment

26

22

Share of other comprehensive income of entities
accounted for using equity method

5

(37)

Other comprehensive income
Valuation difference on available-for-sale securities

Total other comprehensive income

(596)

17

(468)

211

Comprehensive income attributable to owners ofparent(251)

194

Comprehensive income attributable to non-controllinginterests

(217)

16

Comprehensive income
Comprehensive income attributable to11

Japan Asia Investment Co., Ltd.
Fund Consolidation(4) Notes on Quarterly Consolidated Financial Statements(Changes in accounting policies)(Application of "Accounting Standards for Corporate Tax, Resident Tax, Business Tax, etc.")
The Company has applied the “Accounting Standard for Current Income Taxes” (ASBJ Statement No. 27
revised on October 28, 2022, Accounting Standards Board of Japan (ASBJ); hereinafter the “Revised
Accounting Standard of 2022”) and other relevant ASBJ regulations from the beginning of the current firstquarter consolidated accounting period.
Revisions to categories for recording current income taxes (taxation on other comprehensive income)conform to the transitional treatment in the proviso of Paragraph 20-3 of the Revised Accounting Standard of2022 and to the transitional treatment in the proviso of Paragraph 65-2 (2) of the “Guidance on AccountingStandard for Tax Effect Accounting” (ASBJ Guidance No. 28 revised on October 28, 2022, ASBJ; hereinafter
the “Revised Application Guidance of 2022”). There is no impact for the quarterly consolidated financial
statements because of this change in accounting policy.
Regarding the revision related to revised treatment on consolidated financial statements when deferring gains
or losses on sale of shares of subsidiaries, etc. conducted among consolidated companies for tax purposes, theRevised Application Guidance of 2022 has been adopted from the beginning of the current first quarter
consolidated accounting period. There is no impact for the quarterly consolidated financial statements becauseof this change in accounting policy.
(Notes on Segment Information, etc.)
Segment Information
Segment information is not provided as the Group has single segment; Investment business.
(Notes on Significant Changes in Shareholders’ Equity)
On June 28, 2024, the Company received a payment from Governance Partners Asia Fund for a third-party
allotment of new shares. As a result, capital increased by 499 million yen and capital surplus increased by 499
million yen. In addition, due to the disposal of treasury stock through the exercise of stock acquisition rights on
June 28, 2024, capital surplus decreased by 163 million yen and treasury stock decreased by 201 million yen.
As a result, at the end of the current first quarter consolidated accounting period, capital was 5,925 million
yen, capital surplus was 3,966 million yen, and treasury stock was 152 million yen.
(Notice Concerning Notes on Matters Regarding the Assumption of Going Concern)
No applicable items(Notes on Consolidated Statement of Cash Flows)
The company has not prepared the quarterly consolidated statement of cash flows for the current first quarter
consolidated cumulative period. However, depreciation (including amortization of intangible fixed assets except
goodwill) related to the first quarter consolidated cumulative period is as follows.

12

Japan Asia Investment Co., Ltd.
Fund Consolidation

For three months ended
June 30, 2023
(from April 1, 2023
to June 30, 2023)
Depreciation

11

13(Millions of yen)
For three months ended
June 30, 2024
(from April 1, 2024
to June 30, 2024)
11

Japan Asia Investment Co., Ltd.
Previous Accounting Standard

Information for Reference Purposes:
Consolidated Financial Results
for the First Quarter Ended June 30, 2024
August 14, 2024

Consolidated Financial Statements, etc., under the Previous Accounting Standards
for the First Quarter Ended June 30, 2024 (As of June 30, 2024)

Disclosure of consolidated financial statements, etc., under the Previous accounting standards
As of Fiscal year ended March 31, 2007 the JAIC Group has adopted “Practical Solution on Application of Control Criteria and Influence
Criteria to Investment Associations” (Accounting Standards Board of Japan Practical Issues Task Force No. 20 issued on September 8, 2006),
and consolidated financial statements, etc., are being prepared with the inclusion in the consolidation of some of the operational investment
funds managed by the Group.
Nevertheless, to enable investors and shareholders to have an accurate understanding of the JAIC Group’s business results and financial position,
we consider it essential also to disclose financial statements, etc., prepared in accordance with the previous accounting standards. Therefore,
for reference purposes, the Group will continue to disclose financial statements, etc., in accordance with the previous accounting standards.

(Throughout this report, fractional amounts have been rounded down to the nearest one million yen.)
1. Consolidated business results for the first quarter ended June 30, 2024 (April 1, 2024 to June 30, 2024)(1) Consolidated results of operations (cumulative total)(Percentages indicate year-on-year increase or decrease)
Operating revenue

Operating income

Ordinary income

Millions of yen % change

Millions of yen % change

Millions of yen % change

For three months ended
June 30, 2024
For three months ended
June 30, 2023

Profit attributable toowners of parent
Millions of yen % change

505

48.9

175

－

190

－

188

－

339

54.5

(87)

－

(94)

－

(95)

－

Yen

Diluted net income
per share
Yen

10.55

10.49

(5.41)－Net income per share
For three months ended
June 30, 2024
For three months ended
June 30, 2023

(2) Consolidated financial position
Total assets

Net assets

Millions of yen

Millions of yen%

Yen

As of June 30, 2024

11,281

6,873

60.9

309.47

As of March 31, 2024

10,438

5,670

54.0

318.21(Reference) Total shareholders' equity

Equity ratio

Net assets per share

As of June 30, 2024: 6,872 millions of yen, As of March 31, 2024: 5,633 millions of yen

14

Japan Asia Investment Co., Ltd.
Previous Accounting Standard
2. Outlook for the fiscal year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)
The private equity investment business conducted by the Group will be significantly affected by changing factors such as stock markets, given
the characteristics of the business. In addition, it has been difficult to forecast results reasonably in the rapidly changing environment. For theconvenience of investors and shareholders, however, we disclose “result forecast consolidated under the Previous Accounting Standard” eventhough it does not have enough rationality.
(Percentages indicate changes from the corresponding period of the previous fiscal year)
Operating revenue
For the year ending
March 31, 2025

For the year ending
March 31, 2025

Millions of yen
1,600
～
2,650

% change
65.9
～
174.7

Operating income
Millions of yen
150
～
850

% change－～－

Ordinary income
Millions of yen
300
～
1,000

% change－～－

Profit attributable to ownersof parent
Millions of yen% change
250
－
～
～
950
－

Net income per share
Yen
11.26
～
42.78

(Note) Revision from the latest earnings forecast: None
Net income per share in above chart is calculated by the number of shares issued and outstanding excluding the number of shares of treasury
stock as of June 30, 2024.
The “result forecast consolidated under the Previous Accounting Standard” and any other forward-looking statements in this document are
based upon the information currently available to JAIC at the time of writing and certain assumptions. The achievement is not promised.
Numerous factors could cause actual results to differ materially from these result forecasts.
For details, please refer to “3. Business Performance and Financial Condition (3) Result forecast consolidated under the Previous AccountingStandard” on page 23 in “Consolidated Financial Results for the Year Ended March 31, 2024 [Japanese Standards]” disclosed on May 15,
2024.

15

Japan Asia Investment Co., Ltd.
Previous Accounting Standard

3. Business Performance and Financial Condition(1) Breakdown of operating revenue and operating cost

(Millions of yen)

For three months ended
June 30, 2023
(from April 1, 2023
to June 30, 2023)

For three months ended
June 30, 2024
(from April 1, 2024
to June 30, 2024)

For the year ended
March 31, 2024
(from April 1, 2023
to March 31, 2024)

Total operating revenue

339

505

964

Management fees

45

34

149

266

54

654

13

397

74

Other operating revenue

14

20

85

Total operating cost

149

70

1,392

Cost of securities sold

47

57

451

80

0

645

Fund interests losses etc.

17

7

279

Other operating cost

3

4

16

Operating gross profit

190

435

ሺ427)

Proceeds of sales of operational
investment securities
Fund interests income and Income
gains etc.

Investment write-offs & Provision
for allowance for possible
investment losses

16

Japan Asia Investment Co., Ltd.
Previous Accounting Standard
4. Consolidated Financial Statements(1) Consolidated Balance Sheets(Millions of yen)
As of March 31, 2024

As of June 30, 2024

AssetsCurrent assets
Cash and deposits

1,750

2,476

Operational investment securities

8,612

8,301

Allowance for possible investment loss

(1,087)(791)

Operating loans

931

997

Other

91

181

Allowance for doubtful accounts

(112)

(111)

Total current assets

10,187

11,054Non-current assets
Property, plant and equipment
Buildings and structures

38

38

Accumulated depreciation

(9)

(10)

Buildings and structures, net

28

28

Vehicles, tools, furniture and fixtures

59

58

Accumulated depreciation

(52)

(51)

Vehicles, tools, furniture and fixtures, net

7

6

Land

0

0

Total property, plant and equipment

35

34

Other

110

101

Total intangible assets

110

101

75

62

Other

28

27

Total investments and other assets

104

90

250

226

10,438

11,281Intangible assets

Investments and other assets
Investment securities

Total non-current assets
Total assets

17Japan Asia Investment Co., Ltd.
Previous Accounting Standard(Millions of yen)
As of March 31, 2024

As of June 30, 2024

Liabilities
Current liabilities
Short-term borrowings

318

824

Accrued expenses

46

39

Income taxes payable54

31

Provision for bonuses

45

27

Other

164

169

Total current liabilities

630

1,091

Long-term borrowings

3,996

3,172

Deferred tax liabilities

13

14

Non-current liabilities

Retirement benefit liability

127

129

Total non-current liabilities

4,137

3,316

4,767

4,408

Share capital

5,426

5,925

Capital surplus

3,505

3,841

Retained earnings(3,354)(3,166)

Treasury shares

(353)

(152)

Total shareholders' equity

5,224

6,448

Valuation difference on available-for-sale securities

321

296

Deferred gains or losses on hedges

(13)

9

Foreign currency translation adjustment

101

117

Total accumulated other comprehensive income

409

423

Share acquisition rights

36－

Non-controlling interests

0

0

5,670

6,873

10,438

11,281

Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income

Total net assets
Total liabilities and net assets

18Japan Asia Investment Co., Ltd.
Previous Accounting Standard(2) Consolidated Statements of Income

For three months ended
June 30, 2023
(from April 1, 2023
to June 30, 2023)
339

Operating revenue(Millions of yen)
For three months ended
June 30, 2024
(from April 1, 2024
to June 30, 2024)
505

Operating costs

149

70

Operating gross profit

190

435

Selling, general and administrative expenses

278

260

Operating profit (loss)

(87)

175

1

0

Non-operating income
Interest income
Dividend income

00Foreign exchange gains

11

41

Rental income from facilities

1

1

Miscellaneous income

00

Total non-operating income

1543Interest expenses

20

15

Share issuance costs－

12

Miscellaneous losses

10

Non-operating expenses

Total non-operating expenses
Ordinary profit (loss)

21

28

(94)

190

0

0

Extraordinary losses
Loss on retirement of non-current assets
Total extraordinary losses

00Profit (loss) before income taxes

(95)

190

Income taxes - current

1

1

Total income taxes

1

1Profit (loss)

(96)

188

Profit (loss) attributable to non-controlling interests(0)0Profit (loss) attributable to owners of parent

(95)

188

19