1

Index

1. Financial Performance ・・・・・・・・・・ ・ ・ ・ 03 - 13

2. Investment Activity ・・・・・・・・・・・・・・ 14 - 20

3. Assets under Management ・・・・・・・・・・・・ 21 - 24 4. Appendix ・・・・・・・・・・・・・・・・・・・ 25 - 33 5.Disclaimer ・・・・・・・・・・・・・・・・・・・ 34

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 steadyIn the IPO market, high-profile companies continued to attract funds from Japan and overseasLarge 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 feesThree 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.

Original documenthttp://v4.eir-parts.net/v4Contents/View.aspx?template=ir_material_for_fiscal_ym&sid=41769&code=8595

Public permalinkhttp://www.publicnow.com/view/20EEB0D9A48BD15092B25C0CB17AFBB055E805E9