Consolidated financial information reflects only JAFCO's interests.
The contents of this document are based on materials available at the time of its compilation and no guarantee can be made as to the continued accuracy and reliability of the material. The contents may be changed without advance notification. Risks and uncertainties including changes to economic circumstances may cause results and projections to differ materially from those presented in the document. The information in this document is for presentational purposes only and is not an inducement to invest in securities issued by JAFCO or JAFCO-operated funds.
JAFCO holds all rights to this document. With the exception of material taken from other sources, no part of the document may be used or reproduced for any purpose whatsoever without prior permission.
Summary of the six months ended September 30, 2017
Operating Environment
► Despite uncertainties, financial markets remained steady
► In the IPO market, high-profile companies continued to attract funds from Japan and overseas
► Large funding rounds by startups increased
Performance
► Capital gains totaling ¥8.3 billion on sale of listed/ unlisted shares (¥3.5 billion a year ago)
► M&A of a buyout investment contributed to success fees
► Three major IPOs from SV4 portfolio
Funds
► JAFCO committed additional ¥10 billion to SV5, bringing total fund size to ¥75 billion
Investment
► ¥14.5 billion on a global basis (¥10.2 billion a year ago)
Capitalization policy
► Buyback of all JAFCO shares held by Nomura and Nomura Research ;
cancellation of 32.6% of shares outstanding prior to buyback, including existing treasury stock
► Shares outstanding after cancellation: 32.5 million shares, of which treasury stock accounts for 4.97% (1.6 million shares)
Financial Results for six months ended September 30, 2017 (JAFCO's interests)
(¥ Million)
Year ended
Year ending
Annualized
March 2017
March 2018
comparison
1H
2H
Total (A)
1H (B)
[(B)×2]/(A)
Total net sales
11,857
16,000
27,857
17,763
128%
Capital gains
3,479
5,320
8,800
8,264
188%
Income from fund management
2,380
4,681
7,062
3,782
107%
Management fees
1,449
2,045
3,494
2,011
115%
Success fees
931
2,636
3,567
1,770
99%
Additions to investment loss reserves
687
1,217
1,905
1,344
141%
Reversal of investment loss reserves
2,695
2,046
4,741
1,929
81%
SG&A expenses
2,484
2,992
5,476
3,157
115%
Operating income
4,912
7,412
12,324
9,147
148%
Ordinary income
5,273
8,393
13,666
10,020
147%
Profit attributable to JAFCO Co., Ltd. stockholders
5,015
6,058
11,073
19,754
357%
Extraordinary income on the partial sale of shareholdings in Nomura Research
JAFCO Co. Ltd. published this content on 20 October 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 20 October 2017 06:31:10 UTC.
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JAFCO Group Co Ltd (formerly as: JAFCO Co Ltd) is a Japan-based company engaged in venture investment and buyout investment business through fund management. The Company operates Fund Management business segment. The Funds are recruited from institutional investors and operating companies about once every three years. The Company also invests its own funds in all funds and commits itself to improving fund performance. The main sources of revenue are capital gains through fund investments, fund management fees, and performance fees. The Company operates business in Japan, the United States, Asia and other countries.