TSE Code 8511 June 3, 2010 To Shareholders President Minoru Masubuchi JAPAN SECURITIES FINANCE CO., LTD. 1-2-10, Nihonbashi-Kayabacho, Chuo-ku, Tokyo, Japan
NOTICE OF THE 100™ ORDINARY GENERAL MEETING OF SHAREHOLDERS
～extract Dear Shareholders, You are hereby advised of the convocation of the 100 th Ordinary General Meeting of Shareholders of the Company, details of which are indicated below.   We hope very much that you will be able to attend this Meeting. In order to exercise your rights, please review the attached reference materials, and indicate your approval or disapproval of the proposals on the enclosed document, then return it or vote on the Internet site (http://www.e-kosi.jp) by 5:20 p.m. Japan Standard Time on 24 th June, 2010. We are pleased to announce you that we participate in the ICJ voting platform, improving the voting environment for all our shareholders.  The ICJ is offering access to the world's most widely used and sophisticated electronic voting platform, ADP's Proxy Edge voting platform.
Details
1. Date and Time:    10:00 a.m. on Friday, 25 th June, 2010 JAPAN SECURITIES FINANCE CO., LTD., Conference Room 2. Venue: 1-2-10 Nihonbashi-Kayabacho, Chuo-ku, Tokyo, Japan 3. Agenda for the Meeting ltems to be reported: Report 1:   The 100th fiscal year (from Apr. 1, 2009 to Mar. 31, 2010) Business Report, Consolidated Financial Statements and Report of audits of the consolidated financial statements by the Independent Auditor and the Board of Auditors. Report 2:    The 100th fiscal year (from Apr. 1, 2009 to Mar. 31, 2010) Financial Statements. ltems to be resolved: Agenda 1: Appropriation of Retained Earnings Partial Amendment to the Articles of Incorporation Agenda 2: Agenda 3: Election of nine Directors Agenda 4: Election of one Substitute Auditor
Agenda and Reference Information
Appropriation of Retained Earnings
Agenda 1:
The Company proposes the appropriation of retained earnings in the following manner. Year-end dividend The Company determines the rate of dividend in accordance with the company's dividend policy for distributing dividend by taking account of its financial results, while considering its shareholders' equity and appropriate internal reserves as a financial institution. With respect to dividends for the term, in consideration of the company's dividend policy, its financial results and the severity of the projected business environment surrounding the Company, it is with deep regret that Company's year-end dividends will be calculated at 7 yen per share, down 3 yen per share from the previous year's level. The Company humbly asks for the understanding of its shareholders along with their acknowledgement of the current situation. Accordingly, annual dividends which include the interim dividends of 7 yen per share will be calculated at 14 yen per share, down 6 yen per share from the previous year’s level. (1) Type of dividend asset Cash (2) Allocation of dividend assets and total amount of allocation 7 yen per share of common stock Total amount of payout: 651,355,670 yen (3) Effective date of dividend payment June 28, 2010
(Reason for Amendment) In order to deal with reorganization and renaming, etc of financial instruments exchanges.

Agenda 3:
Election of nine Directors
As the term of office of eight directors will expire at the conclusion of this Ordinary General Meeting of Shareholders, the Company proposes the election of nine directors. The candidates are as listed below.
Note 2: Note 3: Takashi Imai, Akira Kanno and Hiroshi Koshida are candidates for outside directors. Reasons for recommending them as candidates for outside directors are as follows. (1) Takashi Imai is nominated in the expectation of his abundant experience and wide knowledge in economic circles as well as his objective standpoint which is independent from executive directors.  He has been our outside director since June 2002 and acted for 8 years at the conclusion of this meeting. (2) Akira Kanno is nominated in the expectation of his abundant experience and wide knowledge in financial circles as well as his objective standpoint which is independent from executive directors.   He has been our outside director since June 2003 and acted for 7 years at the conclusion of this meeting. (3) Hiroshi Koshida is nominated in the expectation of his abundant experience and wide knowledge in securities circles as well as his objective standpoint which is independent from executive directors.  He also holds the post of the chairman of NPO-APROSIS.  The Company pays annual charge of 300,000 yen for this organization as the associate member. He has been our outside director since June 2008 and acted for 2 years at the conclusion of this meeting. In November of 2008, Nippon Television Network Corporation, where Takashi Imai serves as Note 4: Outside Director, broadcasted a news program based on a false recognition of the truth. In March 2009, Nippon Television Network Corporation apologized to persons concerned and broadcasted the corrected information in accordance with the Broadcast Act. Though he was not directly involved with the aforementioned news program, after the broadcast in question, he appropriately executed his role as Outside Director through various measures including Board Meeting deliberations for proposals to ensure the prevention of reoccurrence of such incidents.
Election of one Substitute Auditor
Agenda 4:
At the commencement of this Ordinary General Meeting of Shareholders, the decision of the 99th Ordinary General Meeting of Shareholders held on June 26th, 2009 to elect Masato Denawa as Substitute Accordingly, the Company proposes the reappointment of Masato Denawa as Auditor will expire. Substitute Auditor in order to provide for the possible case scenario in which the number of incumbent auditors provided by laws or regulations becomes insufficient. The candidate is as listed below. The consent of the Board of Auditors has been obtained for this proposal.
Note 2: Masato Denawa is a candidate for substitute outside auditor. The Company asks for his election in expectation of his special knowledge and abundant experience as a lawyer.