AIZAWA SECURITIES GROUP CO., LTD.

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.

Consolidated Financial Summary under Japanese GAAPFor the Three months ended June 30, 2024
Company Name
Listed Stock Exchange
Securities Code
URL
Representative
Contact Person

July 29, 2024

AIZAWA SECURITIES GROUP CO., LTD.
Tokyo Stock Exchange Prime Market
8708
https://www.aizawa-group.jp/
Takuya Aizawa, President & Representative Director
Koji Omichi, Director & Executive Officer

Scheduled date of dividend payment
Supporting explanatory documents on financial results
Briefing on financial results-YES
NO(All figures are rounded off to the nearest million yen)

1. Consolidated financial summary (From April 1, 2024, to June 30, 2024)(1) Consolidated business results(% represents year-on-year change)

OperatingrevenueThree months ended June 30, 2024
Three months ended June 30, 2023

Net operating
revenue

Operatingprofit (loss)

Profit (loss)
attributable toowners of parent

Ordinary
profit (loss)

million yen％

million yen％

million yen％

million yen％

million yen

％

4,953
4,588

7.9
67.1

4,872
4,522

7.7
69.0

348
564

△38.3

612
830

△26.2

815
734

11.0
―

Note: Comprehensive income――

Three months ended June 30, 2024: 1,283 million yen (△47.9% vs previous year same period)
Three months ended June 30, 2023: 2,465 million yen (----% vs previous year same period)

Earnings per share

Diluted earnings per share

yen

yen

Three months ended June 30, 2024
24.33―
Three months ended June 30, 2023
19.50―
Note: We have introduced ESOP, and the average number of company’s share bought under this program for the period under review are being
accounted under company’s own treasury shares.

(2) Consolidated financial position
Total assets

As of June 30, 2024
Fiscal year ended March 31, 2024
Note: Shareholders' equity
As of June 30, 2024: 44,965 million yen

Shareholders'equity ratio

Net assets

Net assets
per share

million yen

million yen％

yen

123,128
124,119

48,06758,65736.5
44.8

1,450.96
1,498.42

As of March 31, 2024: 55,654 million yen

2．Dividends
Dividend per share
End of 1Q

Fiscal year ended 2024
Fiscal year ending 2025
Fiscal year ending 2025 (Forecast)End of 2Q

yen――

End of 3Q

End of 4Q

Annual Total

yen
13.00

yen
―

yen
26.00

yen
39.00

―

―

―

―

AIZAWA SECURITIES GROUP CO., LTD.

3. Earning forecast for the fiscal year ending March 31, 2025 (Consolidated)
The Group operates principally in the financial securities business, and its operating results are likely to be affectedby economic and market fluctuations. Due to such nature of its business and consequential difficulty in predicting its
performance, the group does not disclose the forecast of operating results. Such forecasts may mislead the investors.
Instead of it, as we finalize the financial results, we release the preliminary numbers for the quarterly and yearly
results.
※Notes(1) Important changes in subsidiaries during the term
(Changes pursuant to the subsidiaries that lead to a change in the scope of consolidation)
New: None
Exclusion: None
(2) Accounting treatments specific to quarterly financial statements

NONO(3) Changes in accounting policies, changes in accounting estimates and retrospective restatements
YES1) Changes in accounting policies based on revisions of accounting standard
NO2) Changes in accounting policies other than item 1)above
NO3) Change in accounting estimatesNO4) Retrospective restatements(4) Number of issued shares (Common stock)1) Number of shares issued at the end of the term including treasury shares
As of June 30, 2024: 47,525,649 shares
As of March 31, 2024: 47,525,649 shares
2) Number of treasury shares at the end of the term
As of June 30, 2024: 16,535,694 shares
As of March 31, 2024: 10,383,274 shares
3) Average number of shares outstanding (Cumulative)
As of June 30, 2024: 33,502,989 shares
As of June 30, 2023: 37,652,758 shares※ This quarterly financial summary is not subject to quarterly review procedures by certified public accountants
or audit corporations.
※ Explanation on forecasts
The group operates principally in the financial securities business, and its operating results are likely to be affectedby market fluctuations. Due to such nature of its business and difficulty in predicting its performance, group does
not forecast on business results and dividends. At the end of the term, we make efforts to release the preliminary
numbers, as we finalize the financial results.

AIZAWA SECURITIES GROUP CO., LTD.

Supporting Materials: Table of contents
1. Qualitative information for the Three months ended June 30, 2024
(1) Explanation of consolidated management results ····································································· 1(2) Explanation of the consolidated financial results ····································································· 3(3) Explanation on the forecast of consolidated business results ······················································· 3
2.

Financial statements and major notes(1) Consolidated balance sheets ····························································································· 4(2) Consolidated statements of income and comprehensive income statement ······································· 6Consolidated statements of income ························································································· 6Consolidated comprehensive income statement ······················································································ 7(3) Notes on quarterly consolidated financial statements ································································ 8(Change in accounting policy) ··························································································· 8(Notes on segment information) ························································································· 8(Notes on material changes in shareholders' equity) ·································································· 9(Notes on going concern assumption) ··················································································· 9(Notes on statement of cash flows) ······················································································ 9(Additional information) ·································································································· 93.

Supplementary information
Consolidated business results for the Three months ended June 30, 2024
(1) Commission received ··································································································· 10(2) Net trading income ······································································································ 10(3) Comparative quarterly consolidated income statement ···························································· 11

AIZAWA SECURITIES GROUP CO., LTD.

1. Qualitative information for the Three months ended June 30, 2024
(1) Explanation of consolidated management results

For the period under review (April 1, 2024 to June 30, 2024), despite the global stock markets temporarily
entered the correction phase led by prolonged inflationary pressures in the U.S., stock markets subsequently
recovered on the back of a series of policy changes in the U.S. and Europe. In the U.S. stock market, major
stock price indexes, including the S&P 500 and the Nasdaq composite index, reached new record highs due
to increased interest in large-scale tech stocks, particularly those related to generative AI.
In Japan, despite a large wage increase in the spring, the stock market weighed by concerns of sluggish
domestic consumption led by the weakening yen. In addition, listed companies' forecasts for the fiscal year
ending March 31, 2025, were conservative with decline forecast in profit, and the Nikkei 225 average index
dropped at one point to below 37,000 yen in April, followed by a range market of 38,000 to 39,000 yen.
Meanwhile, due to the normalization of the domestic economy and the rapid depreciation of the yen, there
was increasing speculation that the Bank of Japan will speed up its monetary normalization efforts. This has
led to continued expectations of overcoming deflation, with Japan's 10-year government bond yieldsurpassing 1%.
The Asian stock markets were weak, driven by the weakening of Asian currencies due to postponed
expectations in rate cut by U.S and rising tensions in the middle east. In Hong Kong, stock markets rose due
to capital market reforms announced by Chinese authorities and a policy for state-owned enterprises topurchase housing inventories. Meanwhile, major stock indexes in mainland China and ASEAN countries fell
across the board." In Vietnam, for the reporting period, despite the real GDP growth accelerated to +6.9%
VN Index fell by about 3.0%, as foreign investors increased their net selling in the stock market.
Under these circumstances, our group is working to establish an asset building business based on ourmanagement philosophy of ''serving more people for their prosperity and happy lives through securities
investment''. Based on the medium-term management plan "Define Next 100 - More for Customers," whichstarted in FY2022, we are pursuing various initiatives in line with five basic policies “thoroughly customer
oriented”, “shift from a brokerage business to an asset building business”, “enhancing the platform business”,“strengthening the group synergies to become a comprehensive financial group” and “achieving a sustainable
future”.
The Group along with its core financial instrument securities business, operates investment business, asset
management business, financial products intermediary business, and Vietnam financial securities business.
Progress and initiatives of each business segment are as below:[Financial securities business]
AIZAWA SECURITIES CO., LTD. conducts the financial securities business. From April 1st, 2024, company
as a financial instruments business operators started providing financial service intermediary engaging in
discretionary investment management services for “Mirai Sekkei” to “The Imamura Securities Co., Ltd.”.
“Mirai Sekkei” is a wrap product with client's goal base approach. Through this product, company supports
the realization of long-term life plans that are tailored to each individual client. Additionally, company
entered into a customer referral agreement with SHIMADA KAKEGAWA SHINKIN BANK. The company
provides advice and offers them financial products to the referrals received of customers interested infinancial products.
As part of our efforts to implement the basic policy “thoroughly customer oriented,” laid in the mediumterm management plan, company reformed the sales methods through use of digital transformation (DX) andintroduction of e-KYC system (JPKI) using Individual Number Card for the process of opening an account.
This service has improved customer usability and operational efficiency.
In April, the Mishima branch and Gotemba consulting plaza, along with the Fuji branch and Fujinomiya
branch, were merged respectively. This strategic move was undertaken to optimize branch allocation andenhance customer service. By restructuring the branch network and redeploying human resources, thecompany aims to become more deeply integrated into the community and deliver services that satisfies
customer expectation.
1

AIZAWA SECURITIES GROUP CO., LTD.

As part of our additional initiatives, the company signed a lecturer outsourcing agreement with Culture Co.,
Ltd., a company that operates culture classes nationwide. With the government's "Doubling Asset-based
income plan" and the launch of the new NISA, the need for household asset building is increasing. To meetthis demand, the company will provide expert lecturers to culture classes, creating educational opportunities
focused on asset building and thus supporting many clients.
In the Vietnam financial securities business, group’s Vietnam subsidiary “Japan Securities Co., Ltd.” ispromoting the increase of trading in Vietnamese stocks by providing real-time trading and enhancing
investment information.
[Investment business]
AIZAWA Investments Co., Ltd., which conducts proprietary investments in local and global public listed
equities, external funds and real estate to generate cash flow, is focusing to increase the allocations and returnfrom each asset classes.
The company focuses on medium- to long-term investments in public listed securities, targeting local andglobal growth companies as well as listed companies with stable expected returns, including dividends.
Additionally, it invests in promising ventures companies and supports their future path towards public listing.
It also makes investments in local and global venture capital funds, buyout funds, private debt funds,
mezzanine funds, hedge funds, and real estate development funds. It also makes direct investments indomestic real estate, primarily by holding residential properties in the Tokyo metropolitan area to generaterental income.
[Asset management business]
AIZAWA ASSET MANAGEMENT Co., Ltd, operating in the asset management business, strives to be "themost desired alternative asset management company in Japan." It focuses on managing alternative assets,
particularly in the areas of private equity and hedge funds. Its aim is to become a leading company in thefield of “secondary investment in private equity” in Japan and is actively working to increase awareness both
domestically and globally.
[Financial products intermediary business]
LIFE DESIGN PARTNERS CO., LTD., which operates in financial product intermediary business andinsurance agency businesses, supports customers' comprehensive asset building by offering bothconventional financial products and life insurance products. As an insurance agency, it provides insurance
services with clients of AIZAWA SECURITIES CO., LTD." and is actively working to expand its insurance
agency business.
The group completed the buyback of 6,163,900 shares between the period of April 1, 2024, and June 18,
2024.
The group will continue to strive to become a financial group by leveraging the strengths of each subsidiaryand working collectively with each other.
For the three months ended June 30, 2024, break-down of business results are as follow;(Percentage indicates a year-on-year change. The same shall apply hereinafter in this section)（Commission received）
Total commissions received increased by 18.8% to 3,545 million yen, due to an increase in the handling of mutual
funds.
（Net trading income）
Net trading income declined by 17.9% to 1,041 million yen, due to the decline in turnover of OTC foreign stocks.
（Net financial income）
Net financial income increased by 77.1% to 182 million yen. Under this category, income increased by 59.7% to203 million yen and expenses declined by 12.1% to 21 million yen.

2

AIZAWA SECURITIES GROUP CO., LTD.

（Other operating revenue and expenses）
Other operating revenues declined by 22.4% to 162 million yen, led by the decline in the sales of operational
investment securities. Other operating expenses increased by 42.2% to 58 million yen, due to the increase in thecost of operational investment securities.
（Selling, general and administrative expenses）
Selling, general and administrative expenses increased by 14.3% to 4,524 million yen due to an increase in
trading related expenses and personnel expenses.
（Non-operating profit and losses）
Non-operating profit declined by 0.7% to 263 million yen. Under this category, income was 316 million yen
including the dividend income of 255 million yen. While expenses under this category were 52 million yen
including the interest expenses of 24 million yen.
（Extraordinary profit and losses）
Total extraordinary profit was 439 million yen. Under this category, income was 695 million yen due to gain on
sales of investment securities. While losses were 256 million yen due to loss on settlement of investment
securities.
With above factors, for the reporting period, operating revenue were 4,953 million yen (+7.9%); operating profit
was 348million yen (△38.3%); ordinary profit was 612 million yen (△26.2%); and profit attributable to ownersof parent was 815 million yen (+11.0%). (All comparisons are with the previous year first quarter ended June30, 2023).
(2) Explanation of the consolidated financial results(All comparisons in this section (2) are with the previous fiscal year ended March 2024)(Assets)
As of the end of the period under review, total assets were 123,128 million yen, a decline of 990 million yen.
This was mainly due to; decline of 4,133 million yen in cash & deposits; increase of 1,865 million yen in cash
segregated as deposits; and increase of 1,893 million yen in margin transaction assets.
(Liabilities)
As of the end of the period under review, total liabilities were 75,060 million yen, an increase of 9,598 million
yen. This was mainly due to the decline of 4,542 million yen in marginal transaction liabilities; an increase of
5,488 million yen in deposits received; and an increase of 7,500 million yen in short-term loan payables.
(Net assets)
As for the period under review, total net assets were 48,067 million yen, a decline of 10,589 million yen. Thiswas mainly due to an increase of 10,767 million yen of treasury shares.
(3) Explanation on the forecast of consolidated business results

The group operates principally in the financial securities and investments business. In this industry, there exist
uncertainties due to, but not limited, economic and market conditions. Group tries to monitor and calculate
such market risks and its effects on the business results. Due to such nature of its business and consequential
difficulty in predicting its performance, the group does not disclose the forecast of business results. Instead ofit, as we finalize the financial results, we release the preliminary numbers for the quarterly and yearly results.

3

AIZAWA SECURITIES GROUP CO., LTD.

2. Financial statements and major notes(1) Consolidated balance sheets(million yen)

As ofMarch 31,
2024

As of
June 30,
2024

AssetsCurrent assets
Cash and deposit
Cash segregated as deposits
Cash segregated as deposits for customers
Other deposits
Operational investment securities
Trading products
Trading securities and otherTrade date accrual
Margin transaction assets
Loans on margin transactions
Cash collateral pledged for securities borrowing on margin transactions
Advances paid
Advances paid to customers
Other advance payments
Other current assets
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Net defined benefit asset
OthersAllowance for doubtful accounts
Total non-current assets
Deferred assets
Business commencement expenses
Total deferred assets
Total assets

23,991
27,632
27,632
0
11,291
232
232
1,326
17,20916,870
339
99
69
30
2,245
84,03019,85729,49829,4970
11,986
418
418
1,911
19,103
18,784
318
398
209
189
1,597
84,771

10,85033
29,201
26,066
1,294
1,852
△11
40,085

10,861
32
27,46024,746
1,313
1,412
△11
38,355

3
3
124,1191
1
123,128(million yen)

4

AIZAWA SECURITIES GROUP CO., LTD.

Liabilities
Current liabilities
Trading products
Trading securities and otherMargin transaction liabilities
Borrowings on margin transactions
Cash received for securities lending on margin transactions
Loans payable secured by securities
Cash received on debt credit transaction of securities
Deposits received
Deposits from customers
Other deposits
Guarantee deposits received
Short-term loans payable
Income taxes payable
Provision for bonuses
Provision for director bonuses
Other current liabilities
Total current liabilities
Non-current liabilities
Long-term borrowings
Deferred tax liabilities
Provision for share based remuneration
Other non-current liabilities
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
Capital stock
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation reserve
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

5

As of
March 31,
2024

As of
June 30,
2024

―
―
7,312
6,505
807
1,401
1,401
28,80821,757
7,050
5,639
6,045
1,402
767
64
1,510
52,952

142
142
2,770
2,031
739
4,123
4,123
34,296
20,843
13,452
5,388
13,545
188
401
81
1,580
62,518

6,347
5,572
313
115
12,349

6,261
5,681
323
115
12,381160
160
65,462160
160
75,0608,000
8,207
35,484△6,17945,5138,000
8,207
35,311△16,946
34,572

9,337
746
58
10,141
3,002
58,657
124,119

9,366
969
56
10,393
3,102
48,067
123,128

AIZAWA SECURITIES GROUP CO., LTD.

(2) Consolidated statements of income and comprehensive income statement
Consolidated statements of income (For the Three months ended June 30, 2024)(million yen)

Operating revenue
Commission received
Net trading income
Financial revenue
OthersTotal operating revenue
Financial expenses
Other operating expenses
Net operating revenue
Selling, general and administrative expenses
Trading related expenses
Personnel expenses
Real estate expenses
Office expenses
Depreciation
Taxes and dues
OthersTotal selling, general and administrative expenses
Operating profit (loss)
Non-operating income
Interest income
Dividend income
Profit distributions
OthersTotal non-operating income
Non-operating expenses
Interest expense
Loss on foreign exchange rate
Amortization of deferred assets
Settlement expenses
Commission for purchase of treasury shares
OthersTotal non-operating expenses
Ordinary profit (loss)
Extraordinary income
Gain on sales of non-current assets
Gain on sales of investment securities
Total extraordinary income
Extraordinary losses
Loss on sales of investment securities
Loss on settlement of investment securities
Impairment loss
Provision of reserve for financial instruments transaction liabilities

Total extraordinary losses
Profit (loss) before income taxes
Income taxes – current
Income taxes – deferred
Total income taxes
Profit (loss)
Profit (loss) attributable to non-controlling owners
Profit (loss) attributable to owners of parent

6

Three months ended
June 30, 2023

Three months ended
June 30, 2024

2,983
1,267
127
209
4,588
24
41
4,522

3,545
1,041
203
162
4,953
21
58
4,872

736
2,094
350
569
48
31
126
3,958
564

914
2,347
364
628
62
74
130
4,524
348

35
218
8
16
279

27
255
24
8
316

9
0
1
1
0
0
13
830

24
9
1
―
16
2
52
612

0
155
156

―
695
695

0
―
14
0
15
971
281
△21
259
711
△22
734

―
256
―
0
256
1,051
169
104
274
777
△37
815

AIZAWA SECURITIES GROUP CO., LTD.

Consolidated comprehensive income statement (For the Three months ended June 30, 2024)(million yen)

Profit (loss)
Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation reserve

Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Comprehensive income(Description)
Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling owners

7

Three months ended
June 30, 2023

Three months ended
June 30, 2024

711

777

1,406
336
9
1,753
2,465

29
478
505
1,283

2,440
24

1,066
216

△1

AIZAWA SECURITIES GROUP CO., LTD.

(3) Notes on quarterly consolidated financial statements
The quarterly consolidated financial statements of the company have been prepared in accordance with
Article 4, Paragraph 1 of the standards for preparation of quarterly financial statements, etc. of Tokyo Stock
Exchange, Inc. and accounting standards generally accepted as fair and appropriate in Japan (however, theomissions of description set forth in Article 4, Paragraph 2 of the standards for preparation of quarterly
financial statements, etc. are applied).
(Change in accounting policy)
The "Accounting standard for current income taxes, inhabitants taxes, enterprise taxes, etc." (ASBJ
Statement No. 27, October 28, 2022, hereinafter referred to as the "2022 revised accounting standards")
has been applied from the beginning of the first quarter of the current consolidated accounting period.
Regarding the revision of the classification of income taxes, etc. (taxation on other comprehensive income),group is following the transitional measures specified in the paragraph 20-3 of the “2022 revised accounting
standards ”and the transitional measures specified in the paragraph 65-2 (2) of the "Implementation
guidance on accounting standard for tax effect accounting" (ASBJ Guidance No. 28, October 28,
hereinafter referred to as the "2022 revised implementation guidance"). There is no impact on the quarterly
consolidated financial statements due to the change in this accounting policy.
(Notes on segment information)[Segment information](From April 1, 2023, to June 30, 2023)
1. Segment-wise operating revenue/profit (loss)(million yen)Segments
Financial
instrument
securities
businessAssetmanagementbusinessAmount as on

Investment
business

Total

Adjusted

Consolidated

amount *1

statements ofincome *2

Operating revenue
Revenues from external clientsInter segment revenues
Total
Profit (loss)

4,323

56

209

4,588

―

4,588

3

0

7

12

△12

―

4,326

56

217

4,601

△12

4,588

439

△57

132

515

49

564

Notes:
1. The segment profit (loss) adjustment of 49 million yen includes 5 million yen in inter-segment eliminations and 43 million yen in corporate expenses that are notallocated to any segment. Corporate expenses are expenses held and incurred by the company as a holding company.
2. Segment profit (loss) is adjusted with operating loss in the consolidated statements of income.

2. Segment-wise information on goodwill and impairment loss on non-current assets(Significant impairment losses on non-current assets)
The disclosure of this information is omitted due to lack of significance.

8

AIZAWA SECURITIES GROUP CO., LTD.

(From April 1, 2024, to June 30, 2024)
1. Segment-wise operating revenue/profit (loss)(million yen)Segments
Financial
instrument
securities
businessAssetmanagementbusinessAmount as on

Investment
business

Total

Adjusted

Consolidated

amount *1

statements ofincome *2

Operating revenue
Revenues from external clients

4,744

45

162

4,953

―

4,953

3

5

7

16

△16

―

4,747

51

170

4,969

△16

4,953

325

△71

70

325

23

348

Inter segment revenues
Total
Profit (loss)
Notes:

1. The segment profit (loss) adjustment of 23 million yen includes 1,998 million yen in inter-segment eliminations and 2,022 million yen in corporate expenses thatare not allocated to any segment. Corporate expenses are expenses held and incurred by the company as a holding company.
2. Segment profit (loss) is adjusted with operating loss in the consolidated statements of income.

2. Segment-wise information on goodwill and impairment loss on non-current assets(Significant impairment losses on non-current assets)
Not applicable(Notes on material changes in shareholders’ equity)

The Company conducted a buyback of 6,163,900 shares amounting to 10,775 million yen based on a
resolution of the board of directors meeting held on January 30, 2024, and May 1, 2024.
The company disposed 11,600 treasury shares amounting to 7 million yen in accordance with the incentive
plan for employees.
As a result, treasury shares amounted to 16,946 million yen as of June 30, 2024; an increase of 10,767
million yen during the reporting period.
(Notes on going concern assumption)

Not applicable.
(Notes on statements of cash flow)
Quarterly consolidated statements of cash flows are not prepared. For the reporting period, depreciation expenses(including depreciation expenses on intangible assets and long-term prepaid expenses) are as follow:(million yen)Three months ended
June 30, 2023

Depreciation

Three months ended
June 30, 2024

48

62

(Additional information)

Introduction of ESOPThe company has introduced an Employee Stock Ownership Plan Trust (“ESOP Trust”) from July 22, 2019with the motive to increase the enterprise value over mid to long term. The Company's stock held by the
ESOP Trust is included in treasury shares under net assets with a book value of 572 million yen for 869
thousand shares as of June 30, 2024. The book value and number of treasury shares were 579 million yen
and 881 thousand shares, respectively, at the end of the fiscal year ended March 2024.
9

AIZAWA SECURITIES GROUP CO., LTD.

3. Supplementary information
Consolidated business results for the Three months ended June 30, 2024
(1) Commission receivedA) Breakdown of commission received(million yen)Three months
ended June 30,2023(A)Brokerage commission
Equities
Bonds
Beneficiary securities
Commission from underwriting, secondary
distribution
andsolicitation
towards
professional investors
Equities
Bonds

1,680
1,654
―
25

Other fees received
Total

Change(B/A)

Consolidated fiscal year
ended March 31, 2024

1,499 89.2%
1,463 88.4%――
36 141.2%

6,735
6,642
―
93

4

1

37.2%

10

4
0

1
0

36.2%
65.4%

9
1

507

837 165.0%

2,636

790
2,983

1,206 152.5%
3,545 118.8%

3,842
13,224

Fee from offering, secondary distribution andsolicitation towards professional investors

B)

Three months
ended June 30,2024 (B)

Product wise breakdown(million yen)Three months ended June30, 2023(A)

Three months ended
June 30, 2024
(B)

1,668
0
860
453
2,983

1,473
0
1,397
672
3,545

Equities
Bonds
Beneficiary securities
OthersTotal(2)Change(B/A)

88.3%
229.7%
162.4%
148.2%
118.8%

Consolidated fiscal year
ended March 31, 2024

6,727
1
4,275
2,220
13,224

Net trading income(million yen)Three months ended
June 30, 2023
(A)

Equities etc.
Bonds, forex etc.
Bonds etc.
forex etc.
Total

Three months ended
June 30, 2024
(B)

1,088
178
78
100
1,267

863
177
70
107
1,041

10

Change
(B/A)

79.4%
99.2%
90.0%
106.2%
82.1%

Consolidated fiscal year
ended March 31, 2024

3,678
609
203
406
4,287

AIZAWA SECURITIES GROUP CO., LTD.

(3)

Comparative quarterly consolidated income statement(million yen)

FY 2024

Operating revenue
Commission received
Brokerage commission
Commission from underwriting, secondary
distribution and solicitation towards
professional investors
Fee from offering, secondary distribution andsolicitation towards professional investors
Other fees received
Net trading income
Financial revenue
OthersTotal operating revenue
Financial expenses
Other operating expenses
Net operating revenue

FY 2025First quarter

Second quarter

Third quarter

Fourth quarter

First quarter

ended
June 30

ended
September 30

ended
December 31

endedMarch 31

ended
June 30

2,983
1,680

3,409
1,685

2,954
1,423

3,877
1,945

3,545
1,499

4

1

2

1

1

507

740

672

716

837

790
1,267
127
209
4,588
24
41
4,522

981
948
181
149
4,688
17
203
4,467

855
969
145
126
4,195
16
254
3,923

1,213
1,102
223
304
5,507
25
204
5,277

1,206
1,041
203
162
4,953
21
58
4,872

736
2,094
350
569
48
31
126
3,958
564

834
2,318
344
571
49
77
121
4,317
149

793
2,097
333
618
53
117
109
4,123

914
2,347
364
628
62
74
130
4,524
348

Non-operating income
Non-operating expenses
Ordinary profit (loss)

279
13
830

83
13
220

△199
274
15
58

986
2,400
350
655
64
84
91
4,632
645
217
30
832

316
52
612

Extraordinary income
Extraordinary losses
Profit (loss) before income taxes

156
15
971

198
1
418

203
13
248

2,006
151
2,687

695
256
1,051

Income tax expenses

259

246

59

877

274

Profit (loss)
Profit (loss) attributable to non-controlling interests

711

171

189

1,810

777

△22
734

△18
190

△21
211

△29
1,840

△37
815

Selling, general and administrative expenses
Trading related expenses
Personnel expenses
Real estate expenses
Office expenses
Depreciation
Taxes and dues
OthersTotal selling, general and administrative expenses
Operating profit (loss)

Profit (loss) attributable to owners of parent

11