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 Second Quarter of the Fiscal Year ending March 31, 2024
(Japanese GAAP)

October 31, 2023

Name of Listed Company: INV Inc.
Exchange Listing: Tokyo Stock Exchange
Representative: Takeshi Kawaji, CEOURL: https://www.inv.inc/en/Stock Code: 7338
Contact: Yuichiro Omura, Executive Managing Director

Scheduled Start Date of Dividend Payment: December 1,2023
Scheduled Filling Date of Quarterly Report: November 13, 2023
Supplementary documents available pertaining to financial results: Yes
Financial results briefing: None
(All amounts rounded down to the nearest million yen)

1. Consolidated Financial Results for the Second Quarter of the Fiscal Year ending March 31, 2024
(From April 1, 2023 to September 30, 2023)(1) Consolidated Operating Results (Cumulative)
OperatingRevenue
Six months ended

September 30, 2023
September 30, 2022

(percentage shows Y/Y change)(Unit: millions of yen)

Net OperatingRevenue%

3,258
2,825

15.328.6

Operating
Income%

2,878
2,566

Net Income
Attributable to Owner ofParentOrdinary
Income%

12.1
19.0

179
86(Note)Comprehensive Income: Six months ended September 30, 2023: 213 million yen
Six months ended September 30, 2022: 392 million yen

107.1(56.9)(45.5%)(15.9%)Net Profitper share
Six months ended

September 30, 2023
September 30, 2022

%

190
61

208.5(88.6)%

11313745.5(96.2)

Net Profit perShare (Diluted)
yenyen19.29
2.28

2.27(2) Consolidated Financial Position
Total Assets
As ofSeptember 30, 2023
March 31, 2023

Shareholders’Equity Ratio

Net Assets

Millions of yen

Millions of yen%

117,497
122,278

11,836
11,734

10.1
9.6(Reference)Shareholders' Equity: As of September 30, 2023: 11,827 million yen
As of March 31, 2023:
11,725 million yen

2. Dividends
Dividends
End of Q1
Fiscal year ended

End of Q2

End of Q3

Year-end

Totalyenyenyenyenyen

Fiscal year ended March 31, 2023

-

19.00

-

19.00

38.00

Fiscal year ending March 31, 2024

-

19.00
-

19.00

38.00

Fiscal year ending March 31, 2024 (forecast)(Note) Revision to forecasts of dividend at the end of this period : None

3. Consolidated Financial Results Forecast for the Fiscal year ending March 31, 2024
(From April 1, 2023 to March 31, 2024)
The company does not disclose consolidated financial results forecasts due to the difficulty in predicting business results
as the financial instruments business is strongly influenced by economic and market conditions. Instead, the Company
provides operating revenue and other sales indicators on a monthly basis.

Consolidated Balance SheetAssets
Current 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
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Investments 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
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
Capital surplus
Retained earnings
Treasury Stock
Total shareholders' equity
Accumulated other comprehensive incomeValuation difference on available-for-sale securities(Unit: millions of yen)
As ofMarch 31, 2023

As of
September 30, 2023

9,352
32,7509,400
23,25792
53,11024,663538(0)120,415

8,918
30,6778,000
22,58492
53,57821,941424(0)115,540

207
539
1,116
98
845
65
107
(0)
1,863
122,278

164
577
1,215
98
852
164
101
(0)
1,957
117,497

94,751
3,500
11,264
164
36
24
546
110,287

91,5852,500
10,414
182
32
11
647
105,374

222
23
246

247
28
276

10
10
110,5431010
105,661500
7,646
2,959(0)11,106

500
7,646
2,961
(0)
11,108568561

Consolidated Balance Sheet
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, 2023

50
619
811,734
122,278

As of
September 30, 2023
158
719
811,836
117,497

Consolidated Statements of Income

Operating revenue
Commission received
Net trading income
Financial revenue
Gain on investments in investment partnerships
Other operating revenue
Total operating revenue
Financial expenses
Loss on investments in investment partnerships
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
Foreign exchange gain
Other
Total non-operating income
Non-operating expenses
Foreign exchange losses
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
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Net income
Net income attributable to owners of parent(Unit: millions of yen)
Second Quarter of FY Second Quarter of FY
endingended
March 31, 2023
March 31, 2024
557
1,809
226
231
2,825
152
106
2,566

384
1,621
1,024
17
210
3,258
380
2,878

648
943
612
62
111
53
48
2,479
86

573
1,144
692
35
123
81
49
2,698
179

00

14015

21
425
61

44
190

0062
55
(7)
48
13
13000190140(62)
77113
113

Segment income statement
Second Quarter of Fiscal year ending March 31, 2024 (From April 1, 2023 to September 30, 2023)(Unit: millions of yen)Segments
Total

Consolidation
adjustment

Total

Domestic

Overseas

1,232

1,645

2,878

-

2,878

275

319

594-

594

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

215

169

384-

384

Other operating revenue

60

149

210

-210

Net trading income and financial revenue

1,272

1,373

2,645-

2,645

Other(315)

(47)

(362)

-(362)

977104(104)-

Total net operating revenue

1,329

1,653

2,982

(104)

2,878

Segment operating income

(17)

288

270(91)

179

Intersegment net operating revenue and transfer