日本取引所グループ（8697） – Consolidated financial results for the fiscal year ended March 31, 2022 (Based on IFRS), unaudited

(Reference Translation)April 26, 2022Japan Exchange Group, Inc. and Consolidated SubsidiariesConsolidated financial results for the fiscal year ended March 31, 2022(Based on IFRS), unauditedCompany name:Japan Exchange Group, Inc.Stock Exchange Listings: Tokyo8697Kiyota Akira, Director & Representative Executive Officer, Group CEOLin Kay, Executive Officer (Corporate Communications and Investor Relations)URL: https://www.jpx.co.jp/english/Code number:Representative:Contact:Scheduled date of annual general shareholders meeting:Scheduled date of start of dividend payment:Scheduled date of filing of annual securities report:Preparation of earnings presentation material:Holding of earnings announcement:June 16, 2022May 27, 2022June 9, 2022YesYes (For institutional investors and analysts)1. Consolidated financial results for the fiscal year ended March 31, 2022(from April 1, 2021 to March 31, 2022)(1) Consolidated operating results(Figures less than a million yen are omitted)(Percentages represent changes year on year)Net incomeattributable toowners of theparent companyComprehensive incomeOperatingrevenueOperatingincomeIncome beforeincome taxNet incomeMil. yen%Mil. yen%Mil. yen%Mil. yen%Mil. yen%Mil. yen%Year endedMarch 31, 2022Year endedMarch 31, 2021135,432133,3431.67.873,473(1.5)73,429(1.7)50,830(2.3)49,955(2.8)51,457(4.9)74,5658.874,7328.252,0177.751,3897.954,1027.8Basic earningsper shareDiluted earningsper shareReturn on equity attributable toowners of the parent companyRatio of incomebefore income taxto total assetsRatio of operatingincome to operating revenueYear endedMarch 31, 2022Year endedMarch 31, 2021yen94.3596.00yen－－%15.716.6(Reference)Share of income of investments accounted for using the equity method:Year ended March 31, 2022: ¥1,067 millionYear ended March 31, 2021: ¥2,263 million(2) Consolidated financial positionTotal assetsTotal equityTotal equity attributable to owners of the parentcompanyRatio of total equity attributable toowners of the parent company tototal assetsTotal equity attributable to owners of the parentcompany per shareMil. yenAs of March 31, 202271,463,434As of March 31, 202160,075,678Mil. yen323,852328,769Mil. yen315,653321,391Note: Sizable amounts of “clearing business financial assets and liabilities” and “deposits from clearing participants” pertaining to clearing business conducted by consolidated subsidiaries Japan Securities Clearing Corporation are included in assets and liabilities of JPX Group (meaning JPX and its subsidiaries). For JPX Group’s financial position excluding “clearing business financial assets and liabilities” and “deposits from clearing participants”, etc., see “1. QUALITATIVE INFORMATION ON OPERATING RESULTS AND FINANCIAL POSITION – (2) Explanation on Financial Position” on Page 4 of the Appendix.%0.10.1%0.40.5%54.355.9yen598.35600.38(3) Consolidated cash flowsCash flows from operating activitiesCash flows from investing activitiesCash flows from financing activitiesCash and cash equivalents at the end of the yearYear endedMarch 31, 2022Year endedMarch 31, 20212. DividendsMil. yen58,19171,750Mil. yen(13,299)(1,513)Mil. yen(59,747)(33,932)Annual dividends per shareFirstquarter-endSecondquarter-endThirdquarter-endFiscalyear-endTotalTotal cash dividendsDividendpayout ratioYear endedMarch 31, 2021Year endedMarch 31, 2022Year ending March 31,2023 (Forecast)yen－－－yen26.0026.0026.00yen－－－yen42.0046.0026.00yenMil. yen36,47138,05768.0072.0052.00%70.876.361.00Note1: Breakdown of year-end dividend for the fiscal year ended March 31, 2021: ordinary dividend ¥32; special dividend ¥10.Note2: Breakdown of year-end dividend for the fiscal year ended March 31, 2022: ordinary dividend ¥31; special dividend ¥15.3. Consolidated earnings forecast for the fiscal year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)OperatingrevenueOperatingincomeIncome beforeincome taxNet income(Percentages represent changes year on year)Net incomeattributable toowners of the parent companyBasic earningsper shareYear endingMarch 31, 2023Mil. yen% Mil. yen% Mil. yen% Mil. yen% Mil. yen%132,500(2.2)65,500(10.9)65,500(10.8)45,500(10.5)45,000(9.9)yen85.30Mil. yen93,354108,209Ratio of dividends to total equity attributable to owners of the parent company%11.812.0Notes:scope of consolidation): None(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries that caused changes in the (2) Changes in accounting policies/changes in accounting estimates1) Changes in accounting policies due to revisions in accounting standards under IFRS: None2) Changes in accounting policies other than the above: None3) Changes in accounting estimates: None(3) Number of issued shares (common shares)1) Number of issued shares at the end of the period (including treasury shares):2) Number of treasury shares at the end of period:As of March 31, 2022:As of March 31, 2021:As of March 31, 2022:As of March 31, 2021:3) Average number of shares:Year ended March 31, 2022:Year ended March 31, 2021:528,578,441536,351,4481,037,7821,034,400529,487,172535,304,490(Reference) Overview of non-consolidated financial results1. Non-consolidated financial results for the fiscal year ended March 31, 2022(from April 1, 2021 to March 31, 2022)(1) Operating resultsOperating revenueOperating incomeOrdinary incomeNet income(Percentages represent changes year on year)Year endedMarch 31, 2022Year endedMarch 31, 2021Mil. yen52,72747,642Mil. yen46,33941,055Mil. yen46,45141,419%12.1(1.2)Mil. yen43,36545,643%(5.0)0.5Earningsper shareDiluted earningsper share%10.71.2yen81.9085.27%12.9(0.2)yen－－Year endedMarch 31, 2022Year endedMarch 31, 2021(2) Financial positionTotal assetsTotal net assetsNet assets per shareRatio ofshareholders’ equityto total assetsMil. yen233,153265,247Mil. yen121,796135,331%52.251.0yen230.88252.81As of March 31, 2022As of March 31, 2021(Reference)Shareholders’ equity:As of March 31, 2022: ¥121,796 million•This release is outside the scope of audit procedures by certified public accountants and audit firms.As of March 31, 2021: ¥135,331 million•Explanation on appropriate use of forecast and other special itemsThis material contains an earnings forecast and other forward-looking statements which are based on available information and certain assumptions that are considered reasonable at the time of preparation. Various factors may cause actual results, etc. to be materially different from those expressed in these forward-looking statements.DISCLAIMER: This translation may be used for reference purposes only. This English version is not an official translation of the original Japanese document. In cases where any differences occur between the English version and the original Japanese version, the Japanese version shall prevail. This translation is subject to change without notice. Japan Exchange Group, Inc., and/or its affiliates shall individually or jointly accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or changes with regard to this translation.(Appendix)Contents of Appendix1. QUALITATIVE INFORMATION ON OPERATING RESULTS AND FINANCIAL POSITION …2(1) Explanation on Operating Results …2(2) Explanation on Financial Position …4(3) Explanation on Forecast Information such as Consolidated Earnings Forecast, etc. …52. BASIC RATIONALE TO THE SELECTION OF ACCOUNTING STANDARDS…63. CONSOLIDATED FINANCIAL STATEMENTS AND NOTES …7(1) Consolidated Statement of Financial Position …7(2) Consolidated Statement of Income …9(3) Consolidated Statement of Comprehensive Income…10(4) Consolidated Statement of Changes in Equity…11(5) Consolidated Statement of Cash Flows…13(6) Notes on Consolidated Financial Statements …14(Note on Going-concern Assumption) …14(Operating Revenue) …14(Operating Expenses) …14(Segment Information, etc.) …14(Earnings per Share) …14(Significant Subsequent Events) …14- 1 -1. QUALITATIVE INFORMATION ON OPERATING RESULTS AND FINANCIAL POSITION(1) Explanation on Operating Results In the fiscal year ended March 31, 2022 (from April 1, 2021 to March 31, 2022), JPX Group recorded operating revenue of ¥135,432 million (increased 1.6% from the same period of the previous fiscal year (i.e., year on year)), and operating expenses were ¥63,220 million (increased 3.0% year on year). As a result, JPX Group recorded operating income of ¥73,473 million (decreased 1.5% year on year) and income before income tax of ¥73,429 million (decreased 1.7% year on year). In addition, net income attributable to owners of the parent company after tax was ¥49,955 million (decreased 2.8% year on year).(Operating revenue)1) Trading services revenue Trading services revenue is comprised of “transaction fees” based on the value of securities traded or volume of financial and commodity derivatives traded, “basic fees” based on the types of the trading participant’s trading qualification, “access fees” based on the number of orders, “trading system facilities usage fees” based on the types of trading system facilities used, and other similar fees. For the fiscal year ended March 31, 2022, trading services revenue maintained the same level year on year at ¥53,196 million.Breakdown of trading services revenueYear endedMarch 31, 2021Year endedMarch 31, 2022(Mil. yen)Change (%)Trading services revenueTransaction feesCash equitiesFinancial derivativesTOPIX futures transactionsNikkei 225 futures transactions*Nikkei 225 options transactions**10-year JGB futures transactionsOthersCommodity derivativesBasic feesAccess feesOthersTrading system facilities usage fees53,17143,46331,05610,3931,9334,3802,5551,3531702,0141,0185,0473,5449653,19643,29831,56310,1681,8854,0712,4601,5442051,5671,0005,1413,6471080.0(0.4)1.6(2.2)(2.4)(7.0)(3.7)14.120.3(22.2)(1.8)1.92.912.6*Figures include Nikkei 225 mini futures transactions.**Figures exclude Nikkei 225 weekly options transactions.2) Clearing services revenue Clearing services revenue is comprised of clearing fees related to the assumption of obligations of financial instrument transactions carried out by Japan Securities Clearing Corporation and other similar fees. For the fiscal year ended March 31, 2022, clearing services revenue maintained the same level year on year at ¥27,945 million.- 2 -3) Listing services revenue Listing services revenue is comprised of “initial/additional listing fees” that are received based on the issue amount when a company initially lists or when a listed company issues additional shares, “annual listing fees” received from listed companies based on their market capitalization, and other similar fees. For the fiscal year ended March 31, 2022, listing services revenue decreased 5.5% year on year to ¥15,736 million due mainly to a decrease in revenue from initial/additional listing fees.Breakdown of listing services revenueListing services revenueInitial/additional listing feesAnnual listing feesYear endedMarch 31, 2021Year endedMarch 31, 2022(Mil. yen)16,6605,63011,029Change (%)(5.5)(25.9)4.915,7364,17111,5654) Information services revenue Information services revenue is comprised of market information fees, which consist of revenue related to the provision of market information to information vendors, etc., as well as revenue related to the index business, and revenue related to the provision of corporate action information and other information. For the fiscal year ended March 31, 2022, information services revenue increased 12.6% year on year to ¥27,175 million due mainly to an increase in revenue from market information fees.5) Other operating revenue Other operating revenue includes mainly usage fees for arrownet, which connects trading, market information, and other systems to trading participants and other users; usage fees related to co-location services that allow trading participants, information vendors, and other users to install devices in the system center for the purpose of improving trade execution efficiency by shortening order transmission time, etc.; and revenue from system development and operations. For the fiscal year ended March 31, 2022, other operating revenue decreased 0.6% year on year to ¥11,378 million.Breakdown of other operating revenueOther operating revenuearrownet usage feesCo-location services usage feesOtherYear endedMarch 31, 2021Year endedMarch 31, 2022(Mil. yen)11,4433,3634,5043,575Change (%)(0.6)4.53.2(10.2)11,3783,5164,6503,211(Operating expenses) For the fiscal year ended March 31, 2022, personnel expenses decreased 1.1% year on year to ¥19,048 million. System maintenance and operation expenses include expenses related to maintenance and management/operations of various systems including the cash equities and derivatives trading systems. System maintenance and operation expenses increased 10.8% year on year to ¥14,984 million. Depreciation and amortization increased 4.4% year on year to ¥17,493 million. Other operating expenses decreased 1.3% year on year to ¥11,693 million.- 3 -(2) Explanation on Financial Position(Assets, liabilities, and equity) For assets and liabilities of JPX Group, “clearing business financial assets and liabilities” assumed by Japan Securities Clearing Corporation as a clearing organization and “deposits from clearing participants” deposited by clearing participants as collateral are included under both assets and liabilities. “Clearing business financial assets and liabilities” and “deposits from clearing participants” have a large impact on the amount of assets and liabilities of JPX Group due to their sizable amounts and daily fluctuations subject to changes in clearing participants’ positions. In addition, “legal guarantee funds”, “trading participant security money”, and “default compensation reserve funds” based on the rules for securing safety of financial instruments transactions and other transactions are included under both assets and either liabilities or equity. Total assets as of March 31, 2022 increased by ¥11,387,756 million from the end of the previous fiscal year to ¥71,463,434 million due mainly to an increase in “clearing business financial assets”. Excluding “clearing business financial assets”, “deposits from clearing participants”, “legal guarantee funds”, and “default compensation reserve funds”, assets decreased by ¥13,964 million from the end of the previous fiscal year to ¥387,168 million. Total liabilities as of March 31, 2022 increased by ¥11,392,674 million from the end of the previous fiscal year to ¥71,139,582 million due mainly to the same increase in “clearing business financial liabilities”. Excluding “clearing business financial liabilities”, “deposits from clearing participants”, “legal guarantee funds”, and “trading participant security money”, liabilities decreased by ¥9,617 million from the end of the previous fiscal year to ¥82,532 million. Total equity as of March 31, 2022 decreased by ¥4,917 million from the end of the previous fiscal year to ¥323,852 million, due to capital reduction as a result of dividend payment and acquisition of own shares despite a capital increase from net income attributable to owners of the parent company. In addition, after excluding “default compensation reserve funds”, total equity as of the same date was ¥295,903 million.ReferenceAs of March 31, 2022As of March 31, 2021As of March 31, 2022As of March 31, 2021Total assetsTotal equityTotal equity attributable to owners of the parent companyRatio of total equity attributable to owners of the parent company to total assets%0.4*74.30.5*73.2Return on equity attributable to owners of the parent companyRatio of income before income taxto total assetsTotal equity attributable to owners of the parent company per shareMil. yen71,463,434*387,16860,075,678*401,132%15.7*17.216.6*18.2Mil. yen323,852*295,903328,769*300,821%0.1*18.60.1*19.2Mil. yen315,653*287,704321,391*293,443yen598.35*545.37600.38*548.17Note: Figures marked * under total assets exclude “clearing business financial assets”, “deposits from clearing participants”, “legal guarantee funds”, and “default compensation reserve funds”, and those marked * under total equity and total equity attributable to owners of the parent company exclude “default compensation reserve funds”.- 4 -(Cash flows) Cash and cash equivalents as of March 31, 2022 decreased by ¥14,854 million from the end of the previous fiscal year to ¥93,354 million.1) Cash flows from operating activities There was cash inflow of ¥58,191 million from operating activities mainly as a result of adding ¥17,525 million in depreciation and amortization to and deducting ¥29,912 million in income taxes paid from ¥73,429 million in income before income tax.2) Cash flows from investing activities There was cash outflow of ¥13,299 million from investment activities mainly as a result of cash outflow of ¥12,586 million from purchase of intangible assets.3) Cash flows from financing activities There was cash outflow of ¥59,747 million from financing activities mainly as a result of cash outflow of ¥36,269 million from dividend payment and ¥20,339 million from acquisition of treasury shares.Reference: Cash flow-related indicatorsRatio of total equity attributable to owners of the parent company to total assetsRatio of interest-bearing debt to cash flowInterest coverage ratioYear endedMarch 31, 2021Year endedMarch 31, 20220.5%*73.2%73.3%767.80.4%*74.3%95.3%602.9Ratio of total equity attributable to owners of the parent company to total assets: Total equity attributable to owners of the parent company / Total assetsRatio of interest-bearing debt to cash flow: Interest-bearing debt / Cash flows from operating activitiesInterest coverage ratio: Cash flows from operating activities / Interest payment*Ratio of total equity attributable to owners of the parent company to total assets are calculated excluding “clearing business financial assets”, “deposits from clearing participants”, “legal guarantee funds”, “default compensation reserve funds” from total assets, and excluding “default compensation reserve funds” from total equity attributable to owners of the parent company.(3) Explanation on Forecast Information such as Consolidated Earnings Forecast, etc.1) Consolidated Earnings Forecast The consolidated earnings forecast for the fiscal year ending March 31, 2023 is based on the assumptions that the average daily trading values and volumes are ¥3.8 trillion for cash equities*, 32,000 contracts for 10-year JGB futures transactions, 95,000 contracts for TOPIX futures transactions, 169,000 contracts for Nikkei 225 futures transactions**, and ¥22.5 billion for Nikkei 225 options transactions***. Based on these assumptions, ¥132.5 billion in operating revenue, ¥65.5 billion in operating income, ¥65.5 billion in net income before income tax, ¥45.5 billion in net income, and ¥45.0 billion in net income attributable to owners of the parent company are expected.*The trading value of stocks listed on the TSE Prime, Standard, and Growth Markets and TOKYO PRO Market, and that of ETFs, ETNs, REITs, etc. (includes auction and off-auction trading)**Includes Nikkei 225 mini contract volumes converted into large-sized contracts***Excludes weekly options transactions- 5 -2) Dividend Forecast JPX adopts a dividend policy with a target payout ratio of approximately 60% tied to business performance while giving due consideration to the importance of internal reserves for the following purposes:- Maintaining sound financial health as a financial instruments exchange group,- Preparing for risks as a clearing organization, and- Enabling JPX Group to pursue investment opportunities to raise the competitiveness of its markets as they arise.In line with the abovementioned policy, the dividend for the fiscal year ending March 31, 2023 is planned to be ¥52 per share (¥26 per share as of the end of the second quarter).2. BASIC RATIONALE TO THE SELECTION OF ACCOUNTING STANDARDS From the perspective of facilitating comparability of financial results with those of overseas exchanges and increasing investor convenience, JPX has voluntarily adopted IFRS to its disclosure material.- 6 -3. CONSOLIDATED FINANCIAL STATEMENTS AND NOTES(1) Consolidated Statement of Financial PositionAs of March 31, 2021As of March 31, 2022Mil. yenMil. yenAssetsCurrent assetsCash and cash equivalentsTrade and other receivablesClearing business financial assetsSpecified assets for deposits from clearing participantsSpecified assets for legal guarantee fundsIncome tax receivablesOther financial assetsOther current assetsTotal current assetsNon-current assetsProperty and equipmentGoodwillIntangible assetsRetirement benefit assetsInvestments accounted for using the equity methodSpecified assets for default compensation reserve fundsOther financial assetsOther non-current assetsDeferred tax assetsTotal non-current assets108,20914,93653,649,7805,996,1436735,286116,8002,03310,69767,37435,9778,20416,73627,9485,3096,1813,385181,81593,35415,30564,368,4446,679,2366372,022118,0002,91013,02967,37437,7349,03517,65027,9482,4186,0302,303183,52459,893,86271,279,910Total assets60,075,67871,463,434- 7 -Liabilities and equityLiabilitiesCurrent liabilitiesTrade and other payablesBonds and loans payableClearing business financial liabilitiesDeposits from clearing participantsLegal guarantee fundsTrading participant security moneyIncome tax payablesOther current liabilitiesTotal current liabilitiesNon-current liabilitiesBonds and loans payableRetirement benefit liabilitiesOther non-current liabilitiesDeferred tax liabilitiesTotal non-current liabilitiesTotal liabilitiesEquityShare capitalCapital surplusTreasury sharesOther components of equityRetained earningsTotal equity attributable to owners of the parent companyNon-controlling interestsTotal equityAs of March 31, 2021As of March 31, 2022Mil. yenMil. yen4,13232,50053,649,7805,996,1436738,16115,0388,74659,715,17519,9609,0182,33641831,73211,50039,716(1,825)992271,006321,3917,378328,7694,81332,50064,368,4446,679,2366378,7313,80010,00371,108,16719,9678,9852,36110131,41511,50038,844(1,912)445266,776315,6538,198323,85259,746,90871,139,582Total liabilities and equity60,075,67871,463,434- 8 -Total expensesShare of income of investments accounted for using the (2) Consolidated Statement of IncomeRevenueOperating revenueOther revenueExpensesOperating expensesOther expensesTotal revenueequity methodOperating incomeFinancial incomeFinancial expensesIncome before income taxIncome tax expenseNet incomeNet income attributable toOwners of the parent companyNon-controlling interestsNet incomeEarnings per shareBasic (Yen)Diluted (Yen)Fiscal year endedMarch 31, 2021Fiscal year endedMarch 31, 2022Mil. yenMil. yen133,343359133,70261,394561,3992,26374,5652669974,73222,71452,01751,38962852,01796.00－135,432205135,63763,2201163,2321,06773,4735810373,42922,59850,83049,95587450,83094.35－- 9 -(3) Consolidated Statement of Comprehensive IncomeNet incomeOther comprehensive incomeItems that will not be reclassified to profit or lossNet gain (loss) on revaluation of financial assets measured at fair value through other comprehensive incomeRemeasurements of defined benefit planShare of other comprehensive income of investments accounted for using the equity methodOther comprehensive income, net of taxComprehensive incomeComprehensive income attributable toOwners of the parent companyNon-controlling interestsComprehensive incomeFiscal year endedMarch 31, 2021Fiscal year endedMarch 31, 2022Mil. yenMil. yen52,01750,8302711,81302,08454,10253,47462854,102(5)633062751,45750,58387451,457- 10 -(4) Consolidated Statement of Changes in EquityEquity attributable to owners of the parent companyShare capitalCapital surplusTreasury sharesOther components of equityNet gain (loss) on revaluation of financial assets measured at fair value through other com-prehensive incomeRemeasure-ments of defined benefit planMil. yen－－1,8131,813－－－－(1,813)－Mil. yen305,37552,0172,08454,102(366)(30,035)－90(30,708)328,769－271271－－－－(4,881)992Mil. yen7,146628－628－－－－(396)7,378(396)(396)Mil. yen11,500Mil. yen39,716Mil. yen(1,548)Mil. yen5,602Balance as of April 1, 2020Net incomeOther comprehensive income, net of taxTotal comprehensive incomeAcquisitions of treasury sharesDividends paidChanges of interests in subsidiaries without losing controlTransfer from other components of equity to retained earningsOther－－－－－－－－－－－－－－－－－(366)－－－－－90Total transactions with the ownersBalance as of March 31, 2021－11,500－39,716(276)(1,825)(4,881)(1,813)Equity attributable to ownersof the parent companyOther components of equityRetained earningsTotalNon-controlling interestsTotalequityBalance as of April 1, 2020Net incomeOther comprehensive income, net of taxTotal comprehensive incomeAcquisitions of treasury sharesDividends paidChanges of interests in subsidiaries without losing controlTransfer from other components of equity to retained earningsOtherTotal transactions with the ownersBalance as of March 31, 2021TotalMil. yen5,602－2,0842,084－－－(6,694)－(6,694)992Mil. yen242,95851,389－51,389－(30,035)－6,694－(23,341)271,006Mil. yen298,22851,3892,08453,474(366)(30,035)－－90(30,311)321,391- 11 -Equity attributable to owners of the parent companyShare capitalCapital surplusTreasury sharesMil. yen11,500Mil. yen39,716Mil. yen(1,825)Mil. yenMil. yenOther components of equityNet gain (loss) on revaluation of financial assets measured at fair value through other com-prehensive incomeRemeasure-ments of defined benefit plan992－(5)(5)－－－－－(541)－(541)445－－633633－－－－－(633)－(633)－Non-controlling interestsTotalequityMil. yen7,378874－874－－－(53)－－Mil. yen328,76950,83062751,457(20,333)－(36,269)(12)－－－－(19,999)－(20,333)19,999Balance as of April 1, 2021Net incomeOther comprehensive income, net of taxTotal comprehensive incomeAcquisitions of treasury sharesRetirement of treasury sharesDividends paidChanges of interests in subsidiaries without losing controlTransfer from retained earnings to capital surplusTransfer from other components of equity to retained earningsOther－－－－－－－－－－Total transactions with the ownersBalance as of March 31, 2022－11,500(872)38,844Equity attributable to ownersof the parent companyRetained earningsTotalOther components of equityTotalMil. yen－－－－－－245(87)(1,912)Mil. yen321,39149,95562750,583(20,333)－(36,269)41－－－－－32－(5)19,100Mil. yen271,00649,955－49,955－－(36,269)8(19,100)1,175－(54,186)266,776Balance as of April 1, 2021Net incomeOther comprehensive income, net of taxTotal comprehensive incomeAcquisitions of treasury sharesRetirement of treasury sharesDividends paidChanges of interests in subsidiaries without losing controlTransfer from retained earnings to capital surplusTransfer from other components of equity to retained earningsOtherTotal transactions with the ownersBalance as of March 31, 2022992－627627－－－－－(1,175)－(1,175)445239(56,321)315,653－(53)8,198239(56,375)323,852- 12 -(5) Consolidated Statement of Cash FlowsCash flows from operating activitiesIncome before income taxDepreciation and amortizationFinancial incomeFinancial expensesShare of income of investments accounted for using the equity method(Increase) decrease in trade and other receivablesIncrease (decrease) in trade and other payables(Increase) decrease in retirement benefit assetsIncrease (decrease) in retirement benefit liabilitiesOtherSubtotalInterest and dividends receivedInterest paidIncome taxes paidCash flows generated from operating activitiesCash flows from investing activitiesPayments into time depositsProceeds from withdrawal of time depositsPurchase of property and equipmentPurchase of intangible assetsProceeds from sales of investment securitiesOtherCash flows generated from (used in) investing activitiesCash flows from financing activitiesRepayments of lease liabilitiesDividends paidAcquisition of treasury sharesOtherCash flows used in financing activitiesNet increase (decrease) in cash and cash equivalentsCash and cash equivalents at the beginning of the yearEffect of changes in exchange rate on cash and cash equivalentsCash and cash equivalents at the end of the yearFiscal year endedMarch 31, 2021Fiscal year endedMarch 31, 2022Mil. yenMil. yen74,73216,783(266)93(2,263)1,750(288)(2,562)1514,01092,140498(93)(20,794)71,750(116,300)117,400(2,880)(12,558)12,719106(1,513)(3,133)(30,035)(366)(397)(33,932)36,30571,88319108,20973,42917,525(58)96(1,067)(369)295(830)(33)(1,129)87,857343(96)(29,912)58,191(116,000)116,300(2,344)(12,586)1,24486(13,299)(3,125)(36,269)(20,339)(12)(59,747)(14,855)108,209093,354- 13 -(6) Notes on Consolidated Financial Statements(Note on Going-concern Assumption)Not applicable(Operating Revenue)The breakdown of “operating revenue” is as follows:Trading services revenueClearing services revenueListing services revenueInformation services revenueOtherTotal(Operating Expenses)The breakdown of “operating expenses” is as follows:Personnel expensesSystem maintenance and operation expensesDepreciation and amortizationOtherTotal(Segment Information, etc.)(Earnings per Share)Fiscal year endedMarch 31, 2021Fiscal year endedMarch 31, 2022Mil. yenMil. yenFiscal year endedMarch 31, 2021Fiscal year endedMarch 31, 2022Mil. yenMil. yen53,17127,93916,66024,12811,443133,34319,25513,52416,76111,85261,394Mil. yen51,389535,304yen96.0053,19627,94515,73627,17511,378135,43219,04814,98417,49311,69363,220Mil. yen49,955529,487yen94.35This information is omitted because JPX Group only has a single segment of financial instruments exchange business.Fiscal year endedMarch 31, 2021Fiscal year endedMarch 31, 2022Net income attributable to owners of the parent companyWeighted average number of ordinary shares outstandingThousand sharesThousand sharesBasic earnings per shareNote 1: Basic earnings per share was calculated based on the net income attributable to owners of the parent company and the weighted average number of ordinary shares outstanding.Note 2: Diluted earnings per share is omitted as there were no potential shares.(Significant Subsequent Events)Not applicable- 14 –