JAFCO Group (8595) investor relations material

Executive summary

• Shifted focus to domestic investment, withdrawing from overseas markets and transitioning to non-consolidated financial statements after divesting Asia and US subsidiaries; only JAFCO Consulting Co., Ltd. remains but is excluded due to insignificance.

• Completed transfer of Asia and US subsidiaries, recording ¥2.7 billion in non-operating and extraordinary income.

• Established flagship SV8 Fund Series in December 2025, raising approx. ¥58 billion toward a ¥100 billion target, with ongoing fundraising targeting over ¥97.8 billion.

• Completed ¥5 billion share buybacks and canceled 3.2% of shares; maintained annual dividend at ¥133 per share.

• Formulated Human Rights Policy, became PRI signatory, and implemented ESG Investment Policy.

Financial highlights

• FY March 2026 net sales: ¥21,619 million, down 23.3% year-over-year; gross profit: ¥9.6 billion, down 39%; operating income: ¥5,607 million, down 54%; net income: ¥6,576 million, down 31.7%.

• Capital gains: ¥8.0 billion, down 36% year-over-year; 2 IPOs in Japan.

• Net income per share: ¥123.65 (down from ¥176.61 YoY).

• Total assets: ¥157,856 million (down from ¥163,832 million YoY); net assets: ¥134,113 million.

• Cash and cash equivalents at period end: ¥61,183 million.

Outlook and guidance

• No performance forecasts disclosed due to earnings volatility tied to stock and IPO markets.

• Targeting ROE of 15–20% by focusing on domestic investment and increasing fund size.

• Projected minimum annual dividend for FY March 2027 is ¥133 per share; policy is greater of 6% DOE or 50% payout ratio.

• Aims to increase external capital commitments to 80% of new funds and achieve a domestic ROI of 3.0x or more.

• Share buybacks considered for excess cash; focus remains on capital efficiency and growth.