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November 30, 2022
OKASAN SECURITIES GROUP INC.
(Development in Disclosed Matters) Notice of Completion of Change Concerning a Subsidiary
As announced in "Notice of Agreement with the SBI Group Regarding Conversion of a Consolidated Subsidiary (Okasan Asset Management) to a Joint Venture Company and Changes Concerning the Consolidated Subsidiary," dated September 30, 2022, today Okasan Asset Management Co., Ltd. (hereinafter “Okasan Asset Management”) conducted a capital increase by third-party allotment of new shares to SBI Financial Services Co., Ltd., completing the change regarding the subsidiary as scheduled.
As a result, the ratio of the Okasan Securities Group Inc.'s ownership of voting rights in Okasan Asset Management is now 49% and Okasan Asset Management is now an equity method affiliate of the Company. As for the consolidated financial statements, this change will be reflected from the end of the third quarter of the fiscal year ending March 2023.