JAFCO Group (8595) Investor presentation summary

Strategic goals and growth targets

• Aims for ROE of 10–15% by 2028–2030 and 15–20% by 2031–2033, driven by growth strategy and improved capital efficiency.

• Focuses on combining venture and buyout investment strengths to foster startups and support business succession.

• Targets medium- to long-term growth by leveraging over 50 years of experience and robust management resources.

• Plans to increase fund size and external fundraising ratio to 80% or more, with new funds of ¥100–150 billion.

• Shifted focus to domestic investments, transferring overseas subsidiaries to improve capital efficiency and profit stability.

Business model and income sources

• Generates revenue from fund management fees, success fees, and capital gains from its own investments.

• Key growth drivers are investment management capabilities (ROI) and fundraising from limited partners.

• Maintains a balanced portfolio by combining high-growth, high-volatility venture investments with stable buyout investments.

• Fund management fees are based on AUM, with success fees tied to fund performance and capital gains from exits.

Track record and operational highlights

• Managed cumulative funds of ¥1.2 trillion and invested in over 4,200 companies, with 1,041 IPOs.

• Established the SV8 Series flagship fund in December 2025, targeting ¥100 billion, with ¥58 billion raised so far.

• Ranks first in cumulative market capitalization of holdings in large IPOs in Japan over the past decade.

• Achieved an average exit multiple of 2.4x over five years (domestic), with 2 domestic IPOs in FY March 2026.

• Buyout investments leverage VC know-how to support growth and successful IPOs for portfolio companies.