JAFCO GROUP CO., LTD. SUMMARY OF FINANCIAL RESULTS
INDEX
- Financial Performance ・・・・・・・・・・ ・ ・ ・ 03 - 12
- Investment Activity ・・・・・・・・・・・・・・・・ 13 - 20
- Assets under Management ・・・・・・・・・・・・ 21 - 26
- Our Mission and Approach ・・・・・・・・・・・・ 27 - 30
- Appendix ・・・・・・・・・・ ・ ・・・・・・・・・ 31 - 39
- Disclaimer ・・・・・・・・・ ・ ・・・・・・・・・ 40
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 Group or JAFCO-operated funds. JAFCO Group 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 FINANCIAL RESULTS | 2 |
Summary of the Six Months Ended September 30, 2022
Changes in Operating Environment and Impact on Portfolio Companies
- Stock markets remain unpredictable, but both emerging markets and IPOs are becoming more selective
- Private equity financings impacted by valuation adjustments in the public market
- Continue close monitoring of impact on portfolio companies' performance and fundraising
Performance
- Capital gains totaling ¥1.2 billion on sale of listed/ unlisted shares (¥10.7 billion a year ago)
- 2 IPOs in Japan
- Performance was sluggish mainly due to a harsh exit environment
Investment
- ¥30.9 billion on a global basis (¥22.8 billion a year ago)
New Domestic Fund Series
- SV7 Series, consisting of a VC investment fund, a buyout investment fund, and funds investing in both of aforementioned funds, was established
- Total commitments to date: ¥50 billion; fundraising continues
- Fundraising has undershot initial target mainly due to significant impact of buying-up of JAFCO shares by shareholders related to Mr. Yoshiaki Murakami
Emergency Takeover Defense Measures
- Emergency takeover defense measures have been introduced in response to concerns over large-scale purchase actions, etc. by shareholders related to Mr. Yoshiaki Murakami
Stock compensation
- The Annual General Meeting of Shareholders held in June 2022 resolved to introduce the restricted stock compensation plan; restricted stock granted in July
SUMMARY OF FINANCIAL RESULTS | 3 |
Financial Results (JAFCO's interests)
Total net sales
Capital gains
Income from fund management Management fees Success fees
Additions to investment loss reserves Reversal of investment loss reserves
SG&A expenses
Operating income
Ordinary income
Profit attributable to
JAFCO Group Co., Ltd. stockholders
(¥ Million) | ||||||||||||||||||||||||||||||||
Year ended | Annualized | |||||||||||||||||||||||||||||||
Year ending | ||||||||||||||||||||||||||||||||
March 2022 | March 2023 | comparison | ||||||||||||||||||||||||||||||
1H | 2H | Total (A) | 1H (B) | [(B)×2]/(A) | ||||||||||||||||||||||||||||
18,439 | 9,237 | 27,677 | 5,421 | 39% | ||||||||||||||||||||||||||||
10,721 | 1,917 | 12,638 | 1,169 | 19% | ||||||||||||||||||||||||||||
4,966 | 2,444 | 7,410 | 2,139 | 58% | ||||||||||||||||||||||||||||
1,477 | 1,471 | 2,949 | 1,568 | 106% | ||||||||||||||||||||||||||||
3,488 | 972 | 4,461 | 571 | 26% | ||||||||||||||||||||||||||||
707 | 401 | 1,108 | 2,003 | 361% | ||||||||||||||||||||||||||||
787 | 2,307 | 3,094 | 988 | 64% | ||||||||||||||||||||||||||||
1,982 | 2,051 | 4,033 | 2,182 | 108% | ||||||||||||||||||||||||||||
13,312 | 3,563 | 16,876 | (684) | ー | ||||||||||||||||||||||||||||
14,103 | 4,257 | 18,360 | 350 | 4% | ||||||||||||||||||||||||||||
10,797 | 4,282 | 15,080 | 987 | 13% | ||||||||||||||||||||||||||||
SUMMARY OF FINANCIAL RESULTS | 4 |
Funds under Management
Total Commitments | Net Assets and Distributions | ||||||
(¥Billion) | (¥Billion) | ||||||
Extended | Newly raised | Under management | Distributions | Net assets | |||
600 | Amount subject to management fees | ||||||
(excluding JAFCO's interests, Icon Funds, and Extended) | 8.4 | ||||||
200 | 30.1 | ||||||
451.5 | |||||||
387.7 | 18.9 | ||||||
400 | 332.3 | ||||||
155.1 | 29.8 | ||||||
5.5 | 34.9 | ||||||
23.6 | 21.9 | 214.8 | |||||
100 | 190.1 | ||||||
167.2 | 163.8 | ||||||
200 | |||||||
272.9132.0 | 304.9138.9 | ||||||
323.0 | |||||||
0 | 21.03 | 22.03 | 22.09 | 0 | 21.03 | 22.03 | 22.09 |
- Amount subject to management fees increased because of fundraising of SV7 Series
Exchange rate 21.03: US$1 = ¥110.71 22.03: US$1 = ¥122.39 | Note: 1. Figures are rounded to the nearest decimal place |
22.09: US$1 = ¥144.81 | 2. JAFCO's share in operating funds: 40.4％ (21.03), 40.9% (22.03), 39.3% (22.09) |
SUMMARY OF FINANCIAL RESULTS | 5 |
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JAFCO Co. Ltd. published this content on 27 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2022 06:13:05 UTC.
