Sbi Holdings Incorporated · TSE:8473
Sbi — Q2 2027 Earnings Presentation
131 slides from Sbi's earnings presentation, Nov 2, 2026
Slide 1: SBI Holdings, Inc. Financial Results
Strategic Business Innovator SBI Holdings, Inc. Financial Results for the Six-month Period Ended September 30, 2026 (Fiscal Year Ending March 31, 2027) November 2, 2026
Slide 2: Disclaimer
The items in this document are provided as information related to the financial results and the business strategy of the SBI Group companies and not as an invitation to invest in the stock or securities issued by each company. The business collaboration with SBI Shinsei Bank described in this docume
Slide 3: Agenda
I. Consolidated financial results for the six-month period ended September 30, 2026 II. Strategic initiatives being focused on in the current fiscal year [Unauthorized reproduction is prohibited] 2
Slide 4: I. Consolidated financial results for the six-month period ended September 30, 2026
I. Consolidated financial results for the six- month period ended September 30, 2026 [Unauthorized reproduction is prohibited] 3
Slide 5: Overview of Consolidated Results
[Overview of Consolidated Results] • Revenue increased 17.2% YoY to JPY 1,057.5bn, consolidated profit before income tax expense increased 52.9% to JPY 324.3bn, and profit for the period attributable to owners of the Company increased 39.1% to JPY 230.6bn, each marking a record high for first-half r
Slide 6: 1H FY2026 Consolidated Performance (IFRS)
1H FY2026 Consolidated Performance (IFRS) (JPY billion) 1H FY2025 1H FY2026 YoY Change (Apr.-Sept. 2025) (Apr.-Sept. 2026) (%) 902.6 1,057.5 +17.2 Record Revenue high* Profit before income tax 212.1 Record high* 324.3 +52.9 expense Profit for the 249.1 +52.6 Record period 163.3 high* Profit attribut
Slide 7: Comparison of Consolidated Performance with Major Securities Groups
Comparison of Consolidated Performance with Major Securities Groups Profit for the Period Attributable Profit Before Income Tax Expense to Owners of the Parent YoY YoY change (JPY billion) 1H FY2025 1H FY2026 change 1H FY2025 1H FY2026 (%) (%) SBI Holdings (IFRS) 212.1 324.3 +52.9 165.8 230.6 +39.1
Slide 8: 1H FY2026 Performance by Segment (IFRS)
1H FY2026 Performance by Segment (IFRS) Profit Before Income [YoY Comparison] Revenue Tax Expense 1H FY2025 1H FY2026 1H FY2025 1H FY2026 YoY change YoY change (JPY billion) (Apr.-Sept. (Apr.-Sept. (%) (Apr.-Sept. (Apr.-Sept. (%) 2025) 2026) 2025) 2026) Financial Services 707.4 829.7 +17.3 118.0 200
Slide 9: Annual Dividend Forecast Revised to JPY110 per Share
Annual Dividend Forecast Revised to JPY110 per Share, an Increase of JPY15 from the Previous Fiscal Year As announced on July 31, 2026, the interim dividend for the current fiscal year was decided at JPY30 per share, an increase of JPY10 YoY Based on the business conditions of the companies in t
Slide 10: Financial Services Business Performance Continues to Grow Steadily
Performance of the Financial Services Business, the Basis for Calculating Shareholder Returns, Continues to Grow Steadily Profit Before Income Tax Expense of the Financial Services Business (IFRS) *Excluding gain FY2025 FY2022 FY2023 FY2024 on sale of JPY 152.0bn JPY 172.9bn JPY 197.3bn JPY 425.0bn
Slide 11: Endeavoring to Further Increase Shareholder Returns
As a Basic Group Policy, Endeavoring to Further Increase Shareholder Returns Introduced interim dividends from Interim dividend of FY2026, paying an interim dividend of JPY30 per share JPY10 per share (up JPY5)* Interim dividend of JPY9.50 per share Annual dividend (up JPY0.5), marking 8 consecutive
Slide 12: Business Overview of Each Business Segment
[Business Overview of Each Business Segment] [Unauthorized reproduction is prohibited] 11
Slide 13: 1. Financial Services Business
1. Financial Services Business [Financial Services Business Consolidated Results (IFRS)] (JPY billion) 1H FY2025 1H FY2026 YoY (%) (Apr. 2025 – Sept. 2025) (Apr. 2026 – Sept. 2026) Record Revenue 707.4 high 829.7 +17.3 Profit before income Record tax expense 118.0 high 200.2 +69.7 Breakdown of Profi
Slide 14: Financial Services: Banking Business
1. Financial Services Business: (1) Banking Business [Major Constituent Companies] SBI Shinsei Bank Group, SBI ARUHI, Kyobo SBI SAVINGS BANK (South Korea)*, SBI Bank (Russia), SBI BANK (CAMBODIA), TPBank (Vietnam), Solaris SE (Germany) etc. [Business Highlights] • SBI Shinsei Bank (J-GAAP) recorded
Slide 15: SBI Shinsei Bank 1H FY2026 Consolidated Performance
1. (1) Banking Business: SBI Shinsei Bank SBI Shinsei Bank 1H FY2026 Consolidated Performance [J-GAAP] Note: Figures are rounded down to the first decimal place YoY (JPY billion) 1H FY2025 1H FY2026 change (%) Record Gross operating profit 165.7 high* 199.8 +21 Record Net operating profit before cre
Slide 16: SBI Shinsei Bank's Retail Accounts and Total Deposits
1. (1) Banking Business: SBI Shinsei Bank SBI Shinsei Bank’s Retail Accounts and Total Deposits (million (JPY trillion) accounts) Total amount of deposits (Left) 4.59 20 Dec. 2021 Number of accounts (Right) 4.33 Joined the SBI Group 18.1 18 17.3 3.87 4 16 3.53 14.6 14 3.04 3.16 12 11.5 3 10 9.9 8 6.
Slide 17: SBI Hyper Deposit Accounts and Deposits Increased Significantly
1. (1) Banking Business: SBI Shinsei Bank Number of Accounts and Deposits in “SBI Hyper Deposit,” SBI Shinsei Bank’s Sweep Account with SBI SECURITIES, Increased Significantly (thousand (JPY trillion) Deposits surpassed accounts) 1.8 JPY 1.5tn on Sept. 8, 2026 800 SBI Hyper Deposit balance 1.59 1.6
Slide 18: SBI Shinsei Bank's Operating Assets
1. (1) Banking Business: SBI Shinsei Bank SBI Shinsei Bank’s Operating Assets 19.5 (JPY trillion) Dec. 2021 18.0 18 Joined the SBI Group Marketable securities 4.1 16 0.4 Other 14.3 Overseas business 14 0.5 Showa Leasing 12 11.4 0.6 2.3 Structured finance 10.3 10 Institutional 8.1 Business 8 6.1 Corp
Slide 19: Financial Services: Securities Business
1. Financial Services Business: (2) Securities Business [Major Constituent Companies] SBI SECURITIES, SBI Liquidity Market, SBI FXTRADE, SBI MONEYPLAZA, Osaka Digital Exchange, SBI Thai Online Securities (Thailand), SBI Royal Securities (Cambodia), BNI SEKURITAS (Indonesia), FPT Securities (Vietnam)
Slide 20: SBI SECURITIES 1H FY2026 Consolidated Results (J-GAAP)
1. (2) Securities Business: SBI SECURITIES 1H FY2026 Consolidated Results (J-GAAP) [Year-on-Year Comparison] (JPY billion) 1H FY2025 1H FY2026 YoY change (Apr. 2025 - Sept. 2025) (Apr. 2026 - Sept. 2026) (%) Operating Revenue 128.8 Record high 191.0 +48.3 Net Operating Revenue 110.5 Record high 159.
Slide 21: SBI SECURITIES Revenue Increase by Diversifying Revenue Sources
1. (2) Securities Business: SBI SECURITIES Achieved Significant Revenue Increase by Diversifying Its Revenue Sources and Strengthening Its Earning Power Across All Business Areas [Comparison of SBI SECURITIES’ Consolidated YoY Operating Revenue (Net Sales) Breakdown] (JPY billion) +48.3% 200 191.0 F
Slide 22: Quarterly Revenues at SBI SECURITIES Have Continued to Expand
1. (2) Securities Business: Quarterly Revenues at SBI SECURITIES Have Continued to Expand Steadily [Comparison of SBI SECURITIES’ Quarterly Consolidated QoQ Operating Revenue (Net Sales) Breakdown] (JPY billion) 99.4 +8.5% 100 91.6 Financial revenues 90 Interest income from margin 80 78.3 77.4 tradi
Slide 23: Securities Accounts at the SBI Group Surpass 17 Million
1. (2) Securities Business: Number of Securities Accounts at the SBI Group Surpasses 17 Million Accounts for the First Time in Japan [Number of Securities Accounts of the SBI Group*1 and As of end of Sept. 2026 Nomura Holdings] (Million (End of Mar. 2009 - end of Mar. 2026) SBI accounts) 16.00 16.86
Slide 24: Assets Under Custody Exceeded JPY 79 Trillion
1. (2) Securities Business: Assets Under Custody of the SBI Group’s Securities Business Exceeded JPY 79 Trillion - Target JPY 100 trillion in assets under custody by the end of Mar. 2029 - Trend of Assets Under Custody*1 (JPY trillion) (End of 2Q FY2021 to End of 2Q FY2026) 90.0 ■ Investment trust b
Slide 25: Diversifying revenue sources yielding steady results
Ongoing efforts to diversify revenue sources, pursued ahead of the “ZERO Revolution,” are yielding steady results [In Order of Revenue Contribution] ① Financial revenues ② Trading revenues ③ Other commissions (Investment trust fees, M&A advisory fees, etc.) ④ Commissions ⑤ Underwriting/Offering comm
Slide 26: Financial Revenues Achieved a Record High
① Financial revenues: SBI SECURITIES’ Financial Revenues Achieved a Record High Against the Backdrop of a High Level of Open Interest Credit Balance [Trend in Open Interest Credit Balance (EoM)] [Trend in Financial Revenues] ■ Of which revenue from (JPY billion) (JPY trillion) margin trading 50.0 3.
Slide 27: Trading Revenues Achieved a Record High
② Trading revenues: SBI SECURITIES’ Trading Revenues Achieved a Record High FX Revenue Bond-related revenue FX Revenue (JPY billion) Equity-related Crypto asset trading • Spot revenue rose sharply on revenue, etc. revenue* heightened volatility driven by 50 U.S. and Japanese interest rate 45 Record
Slide 28: Investment Trust Fees and Balance at Record Highs
③ Other commissions: Investment trust fees Investment Trust Fees and Investment Trust Balance at SBI SECURITIES Reached Record Highs - Monthly recurring investment amounts set exceeded JPY 340bn - [Quarterly Investment Trust [Investment Trust Fees] Balance at SBI SECURITIES] (JPY trillion) (JPY tril
Slide 29: Revenue from Foreign Stocks Grew Substantially
④ Commissions: Foreign stocks Revenue from Foreign Stocks at SBI SECURITIES Grew Substantially • Along with 5,400 U.S. stocks, among the largest lineups in the industry, SBI SECURITIES handles stocks from China, South Korea, Russia, Vietnam, Indonesia, Singapore, Thailand, Malaysia, etc. • 2Q tradin
Slide 30: Large IPO of SpaceX Contributed to Revenue
④ Commissions: Foreign stocks Large IPO of U.S.-Based SpaceX Contributed to Revenue Revenue from the IPO of U.S.-based SpaceX: Sales commissions (IPO) + trading commissions + foreign exchange fees Total approx. JPY 550m (June 12 - Sept. 30, 2026) (USD) Trend in SpaceX’s Share Price 220 Although the
Slide 31: Retail JGB Sales Hit Quarterly Record High
⑤ Underwriting/Offering commissions/Sales commissions: Retail JGBs SBI SECURITIES’ Retail JGB Sales Hit Quarterly Record High and Topped Securities Companies in Jan.-June 2026 - Sales grew substantially on higher JGB yields following policy rate hikes and an interest rate advantage over deposits - T
Slide 32: Strengthening Primary and Secondary Underwriting Business
⑤ Underwriting/Offering commissions/Sales commissions: IPO, bond underwriting SBI SECURITIES Is Strengthening Its Primary and Secondary Underwriting Business for Stocks and Bonds IPO Underwriting Ranking (Apr. 2026 - Sept. 2026) Trend in Underwriting Amount of Corporate Bonds and Public Bonds at SBI
Slide 33: Next steps to expand the customer base
Next steps to expand the customer base and further strengthen revenue (1) Strongly promote the acquisition of minor accounts in anticipation of the “Kodomo NISA” starting in Jan. 2027 (2) Further strengthen the “Open Alliance” strategy to acquire new customer bases [Unauthorized reproduction is proh
Slide 34: Acquisition of minor accounts ahead of Kodomo NISA
(1) Strongly promote the acquisition of minor accounts in anticipation of the “Kodomo NISA” starting in Jan. 2027 [Unauthorized reproduction is prohibited] 33
Slide 35: Strengthening Initiatives to Expand Minor Accounts Ahead of Kodomo NISA
Thoroughly Strengthening Initiatives to Expand Minor Accounts Ahead of the “Kodomo NISA” Launching in Jan. 2027 Significance of Acquiring Minor Accounts • Japan’s population aged 0-17 is approx. 17m (as of Oct. 1, 2024), while “Junior NISA,” the predecessor of Kodomo NISA, had approx. 1.04m accounts
Slide 36: Developing and Selling Zero-Kan Global Equity Fund
Developing and Selling “Zero-Kan,” a Global Equity Fund with 0% Trust Fee Exclusively for Kodomo NISA Overview of “Zero-Kan” Name SBI Zero All Country Index Fund Trust fee 0.00% (annual rate, tax included) Inception date Nov. 17, 2026 Purchase start date Available from the start of “Kodomo NISA” • A
Slide 37: Lifelong Opportunities to Invest in Global Equities from Age 0
Providing Lifelong Opportunities to Invest in Global Equities from Age 0 Through “Zero-Kan” and “SBI All Country” at the Industry’s Lowest Level* of Cost Age 18 and over Ages 0 to 17 “SBI All Country” with “Zero-kan” with zero trust fee the lowest-level trust fee Zero-kan Common to both funds SBI Al
Slide 38: Further strengthen the Open Alliance strategy
(2) Further strengthen the “Open Alliance” strategy to acquire new customer bases ① Collaboration with SMBC Group centered on Olive ② Partnership with JR Kyushu through the provision of a super app [Unauthorized reproduction is prohibited] 37
Slide 39: Olive Consulting Expands Rapidly
① Collaboration with SMBC Group centered on Olive Olive Consulting, Jointly Provided by the SBI Group and SMBC Group, Expands Rapidly Olive Consulting Olive Consulting Co., Ltd., a joint venture between SMBC Group and the SBI Group, offers a new digital asset management service that lets customers f
Slide 40: Olive Consulting Launches Referral Service for Partner Companies
① Collaboration with SMBC Group centered on Olive To Meet the Needs of Digital Affluent Customers Beyond Asset Management, Olive Consulting Launches a Referral Service for Partner Companies, Including SBI Group Companies • Through asset management consultations, a wide range of needs such as busines
Slide 41: Agreement in Principle with JR Kyushu
② Partnership with JR Kyushu through the provision of a super app Agreement in Principle Between the SBI Group and JR Kyushu Toward a Strategic Business Alliance (Announced Sept. 25, 2026) - Seeking to provide a financial super app that adds securities and other functions to BaaS, a first in the rai
Slide 42: Financial Services: Insurance Business
1. Financial Services Business: (3) Insurance Business [Major Constituent Companies] SBI Insurance Group, SBI Insurance, SBI Life Insurance, Small- amount short-term insurance companies, LY HOUR SBI Insurance, Kyobo Life Insurance [Business Highlights] • For 1H FY2026, consolidated results for the S
Slide 43: SBI Insurance Group Consolidated Performance
1. (3) Insurance Business: SBI Insurance Group’s Consolidated Performance (Preliminary Figures) *Final consolidated figures for 1H FY2026 to be released on Nov. 11 Consolidated results for 1H FY2026 (J-GAAP) (JPY billion) 1H FY2025 1H FY2026 YoY (Apr. 2025 - Sept. 2025) (Apr. 2026 - Sept. 2026) Resu
Slide 44: SBI Insurance Group Total Policies in Force
1. (3) Insurance Business: SBI Insurance Group’s Total Number of Policies in Force SBI IG CAGR (End of Mar. 2016 to end of Sept. 2026) 12.1% (Reference) Average of four major life insurance companies* (non-consolidated) (CAGR) 1.3% (End of Mar. 2016 to end of June 2026) End of Apr. 2025 Sept. 2023,
Slide 45: 2. Asset Management Business
2. Asset Management Business [Major Constituent Companies] SBI Global Asset Management (SBIGAM), SBI Asset Management (SBIGAM subsidiary), Wealth Advisor (SBIGAM subsidiary), SBI Okasan Asset Management (SBIGAM subsidiary), Rheos Capital Works (SBIGAM subsidiary) [Asset Management Business Consolida
Slide 46: Consolidated Results of SBI Global Asset Management
2. Asset Management Business: Consolidated Results of SBI Global Asset Management (J-GAAP) YoY change (JPY billion) 1H FY2025 1H FY2026 (%) Revenue 7.3 Record High 27.0 +271.2 Ordinary income 1.8 Record High 6.7 +278.7 Profit attributable to owners of the parent 1.1 Record High 3.6 +240.3 (Note) SBI
Slide 47: SBI GAM Group AUM Reached Approximately JPY 14tn
2. Asset Management Business: SBI Global Asset Management Group’s AUM Reached Approximately JPY 14tn -Targeting JPY 20tn During FY2026 and JPY 50tn by FY2029- (JPY billion) JPY 13,950.3bn 14,000 SBI Okasan 13,000 Asset 12,000 ← Management JPY 2,695.1bn 11,000 10,000 ←Rheos Capital Works 9,000 JPY 1,
Slide 48: 3. PE Investment Business
3. PE Investment Business [Major Constituent Companies] SBI Investment, SBI Shinsei Corporate Investment, SBI Regional Business Succession Investment, Overseas PE investment companies [PE Investment Business Consolidated Results (IFRS)] (Unit: JPY billion) 1H FY2025 1H FY2026 YoY change (Apr. 2025–S
Slide 49: IPOs and M&As of the SBI Group's Investee Companies
3. PE Investment Business: IPOs and M&As of the SBI Group’s Investee Companies*1 FY2025 Results FY2026 Prospects Number of Companies with 17 29 IPOs/M&As, etc. Listing Date Investee company Market Listing Date Investee company Market Innostar Service, Apr. 22, 2026 TPEx*2 Aug. 24, 2026 Nearthlab Inc
Slide 50: Profit Contributions from Promising Investee Companies
3. PE Investment Business Profit Contributions from Promising Investee Companies in Advanced Sectors Realized at 7 Companies in 1H, with 6 More Companies Expected in 2H • As of the beginning of the fiscal year, 13 investee companies were expected to make significant profit contributions in FY2026 •
Slide 51: Distribution of XRP Partly Held by Ripple
3. PE Investment Business Distribution of XRP Partly Held by Ripple, an SBI Holdings Investee Company [Burned] (Amount burned as transaction fees) Approx. 0.01bn XRP [XRP Circulated in the Market] Approx. 63.35bn XRP (Market Capitalization: approx. JPY 13.3tn) Max supply: [Actual XRP] [Ripple’s Hold
Slide 52: Investee Evernorth, an XRP Treasury Company, Lists on NASDAQ
3. PE Investment Business SBI Holdings’ Investee Evernorth, an XRP Treasury Company, Lists on NASDAQ Backed by investments from the SBI Group, Ripple and others, Evernorth listed on Oct. 12, 2026 (NASDAQ: XRPN) [Business Overview] Holds and manages XRP, seeking to increase XRP holdings per share, wi
Slide 53: Assets Under Management of the SBI Group
3. PE Investment Business: Assets Under Management of the SBI Group (As of the end of Sept. 2026) (Excluding JPY 351.0bn of both cash Private equity, etc. JPY 1,332.6bn (*1) and commitment amount to be paid in) (*2) Breakdown of operating investment Balance Breakdown of operating Balance securities
Slide 54: 4. Crypto-asset Business
4. Crypto-asset Business [Major Constituent Companies / Business] SBI VC Trade, Bitbank, B2C2, etc. [Crypto-asset Business Consolidated Performance (IFRS)] (JPY billion) 1H FY2025 1H FY2026 YoY change (Apr. 2025- Sept. 2025) (Apr. 2026- Sept. 2026) (%) Revenue 33.0 23.1 -30.1 Profit before income ta
Slide 55: Number of the SBI Group's Crypto Asset Accounts in Japan
4. Crypto-asset Business: Trends in the Number of the SBI Group’s Crypto Asset Accounts in Japan (Combined Total of VCTRADE, BITPOINT, and bitbank Services) - Bitbank became a wholly owned subsidiary of SBI Holdings on Oct. 1, 2026 - (Thousand accounts) VCTRADE, BITPOINT, and bitbank: 3,050 3,000 co
Slide 56: 5. Next Gen Business
5. Next Gen Business [Major Constituent Businesses] Biotechnology and healthcare businesses, Neo-media business, other businesses including Web3, Mynavi Corporation [Next Gen Business Segment Consolidated Results (IFRS)] 1H FY2025 1H FY2026 YoY change (JPY billion) (Apr. 2025 – Sept. 2025) (Apr. 202
Slide 57: II. Strategic initiatives focused on in the current fiscal year
II. Strategic initiatives being focused on in the current fiscal year 1. Intensively strengthening security measures toward making the SBI Group fully AI-driven 2. Focusing on building on-chain financial infrastructure toward realizing the SBI APAC Digital Economic Zone 3. The “Fourth Megabank Conce
Slide 58: Strengthening security measures toward a fully AI-driven SBI Group
1. Intensively strengthening security measures toward making the SBI Group fully AI-driven (1) SBI Group counters increasingly AI-sophisticated cyberattacks with AI-powered multi-layered defense (2) Development of AI infrastructure and AX (AI transformation) projects toward becoming fully AI-driven
Slide 59: AI-powered multi-layered defense against cyberattacks
(1) SBI Group counters increasingly AI-sophisticated cyberattacks with AI-powered multi-layered defense ① Enhancing defense with Anthropic’s “Claude Mythos” ② Preparing for high-frequency AI-driven attacks with Eversafe’s dynamic defense [Unauthorized reproduction is prohibited] 58
Slide 60: Enhancing Defense with Anthropic's Claude Mythos
① Enhancing Defense with Anthropic’s “Claude Mythos” - Further enhancing the existing defense system with high-performance AI - Existing defense system Enhanced with high-performance AI • Each company operating its own Inspection systems conducts its own emergency inspections “Claude Mythos” powers
Slide 61: SBI SECURITIES Diagnoses and Addresses Vulnerabilities with Multiple AIs
[Case Study] SBI SECURITIES Diagnoses and Addresses Vulnerabilities with Multiple AIs - SBI SECURITIES makes full use of AI, prioritizing critical vulnerabilities - Main AI applications: ① Strengthening monitoring: Rapidly established a monitoring system that analyzes access logs with AI and automat
Slide 62: Preparing for AI-Driven Attacks with Eversafe's Dynamic Defense
② Preparing for High-Frequency AI-Driven Attacks with Eversafe’s Dynamic Defense [Overview of Eversafe] ■ A security solution for apps and the web provided by SBI EVERSPIN Track record: Approx. 150 financial institutions in Japan and overseas Detection record: Approx. 30bn attacks detected on a
Slide 63: Development of AI infrastructure and AX projects
(2) Development of AI infrastructure and AX (AI transformation) projects toward becoming fully AI-driven are also progressing steadily ① Developing an AI utilization platform across the entire SBI Group ② Cost reduction projects through AX are underway at SBI Group companies [Unauthorized reproducti
Slide 64: Developing an AI Utilization Platform Across the SBI Group
① Developing an AI Utilization Platform Across the Entire SBI Group - A Group-wide AX promotion structure launched in Apr. 2026 - AX promotion structure Group-wide common AI platform Top-down decision-making by Rolling out “Claude” to SBI Group companies management 71 Introduced companies at Group A
Slide 65: Cost Reduction Projects Through AX Are Underway
② Cost Reduction Projects Through AX Are Underway at SBI Group Companies - Expect cost reductions totaling approx. JPY 48.2bn (within three years) across SBI Group companies - Company name Reduction target Examples of implementation methods Approx. NDA review AI agent, overseas financial data analys
Slide 66: Building on-chain financial infrastructure for the SBI APAC Digital Economic Zone
2. Focusing on building on-chain financial infrastructure toward realizing the SBI APAC Digital Economic Zone (1) Developing on-chain-enabled exchanges in Japan and overseas as venues for trading digital assets (2) Developing and distributing tokenized financial products in Japan and overseas in col
Slide 67: Developing on-chain-enabled exchanges
(1) Developing on-chain-enabled exchanges in Japan and overseas as venues for trading digital assets [Unauthorized reproduction is prohibited] 66
Slide 68: Overseas Case 1: Robinhood Tokenized Stocks
Overseas Case ①: Robinhood Offers 24-Hour Trading of Tokenized Stocks on Its Own Chain Robinhood, a major U.S. online securities company (approx. 28m customers), began offering over 200 tokenized U.S. stocks and ETFs to customers in the EU in June 2025, and has since rapidly expanded to over 2,000
Slide 69: Overseas Case 2: Nasdaq Tokenized Trading
Overseas Case ②: Nasdaq Promotes Tokenized Trading of “Real Stocks” with Shareholder Rights The SEC approved tokenized trading of Russell 1000 constituents and major index ETFs in Mar. 2026 Traded with the same order book, price, and ticker as conventional shares, and voting rights, dividends, and
Slide 70: Measures to Enhance Participant Convenience at PTS
③ Measures to Enhance Participant Convenience at Proprietary Trading Systems (PTS: Japannext and ODX) Co-managed by SBI Holdings Proprietary trading system (PTS) Transition to an exchange 1 Over 10% of Japannext’s average daily trading value meets Over 20% in any total listed and individual issue bo
Slide 71: Global network of regulatory-compliant digital asset exchanges
④ Building a global network of regulatory-compliant digital asset exchanges, centered on APAC (i) Coinhako, a major crypto asset exchange in Singapore, made a consolidated subsidiary and renamed SBI Coinhako (investment ratio: 51.69%) (ii) Investment ratio in Fasset, a strategic investee with a paym
Slide 72: Coinhako Made a Consolidated Subsidiary, Renamed SBI Coinhako
(i) Coinhako, a Major Crypto Asset Exchange in Singapore, Made a Consolidated Subsidiary and Renamed SBI Coinhako (Investment Ratio: 51.69%) [Outline of SBI Coinhako Group] • Pioneer in digital assets in Singapore. Built a crypto asset platform with thorough regulatory compliance under one of the wo
Slide 73: Investment Ratio in Fasset Raised to 20%
(ii) Investment Ratio in Fasset, a Strategic Investee with a Payment Network in 125 Countries and Regions, Raise to 20% Fasset, headquartered in the UAE (Dubai), provides stablecoin-based remittance, payment and investment services across Asia, the Middle East and Africa Its proprietary payment
Slide 74: Strategic Alliance with Ajaib Group
(iii) Strategic Capital and Business Alliance with Ajaib Group, One of Indonesia’s Largest Online Multi- Asset Investment Platforms (Investment Ratio: 20%) Ajaib Group, based in Jakarta, began as an online securities brokerage and has grown into a multi-asset investment platform handling digital a
Slide 75: Planning to Invest in Vietnam Crypto Exchange License Candidate
(iv) Planning to Invest in One of the Five Candidates for Crypto Asset Exchange Licenses in Vietnam Annual crypto asset trading involving Vietnamese traders is over USD 200.0bn, and adoption ranks 4th in the world. Currently, much of the trading takes place on overseas exchanges (Reuters: Mar. 17, 2
Slide 76: Developing and distributing tokenized financial products
(2) Developing and distributing tokenized financial products in Japan and overseas in collaboration with overseas partners ① Building a platform for the mutual distribution of tokenized financial products in Japan and overseas through alliances with leading overseas partners ② Partnering with BlackR
Slide 77: Platform for Mutual Distribution of Tokenized Financial Products
① Building a Platform for the Mutual Distribution of Tokenized Financial Products in Japan and Overseas Through Alliances with Leading Overseas Partners Partner Initiatives ■ Established SBI Onchain as a JV (Oct. 2025) ■ Tokenization of an equity fund, a first for a Japanese Digital asset exchange a
Slide 78: Partnering with BlackRock on Tokenized MMFs
② Partnering with BlackRock to Promote Initiatives Related to Tokenized MMFs Tradable Using JPYSC SBI Holdings and Startale reached a basic agreement with BlackRock on collaboration between tokenized MMFs and the JPY-denominated stablecoin “JPYSC” Customer base and regulatory compliance Tokenized MM
Slide 79: Promoting distribution of JPYSC
(3) Promoting the distribution of JPYSC (JPY-denominated stablecoin) in Japan and overseas [Unauthorized reproduction is prohibited] 78
Slide 80: Requesting Early Application of Tax Measures for Stablecoins
① Requesting the Government’s Early Application of Tax Measures for JPY-Denominated Trust-Type Stablecoins to Enable Public Distribution In its “Requests for FY2027 Tax Reform” (published Aug. 2026), the Financial Services Agency (FSA) requested measures concerning trust-type stablecoins (specified
Slide 81: SMFG Takes Equity Stake in SBI Startale Marketing
② Sumitomo Mitsui Financial Group (SMFG) Takes an Equity Stake in SBI Startale Marketing, Which Promotes the Adoption of JPYSC Concluded a basic agreement with SMFG toward a partnership in the stablecoin field Striving for the integration of JPYSC into SMFG’s “Olive” to create new financial serv
Slide 82: Participating in Open Standard, Promoting OUSD
③ Participating in Open Standard, Which Promotes the USD-Denominated Stablecoin OUSD (Open USD) - Considering Interoperability Connecting the Yen and the Dollar - SBI Holdings and Startale have joined “Open Standard,” which promotes the adoption of the USD-denominated stablecoin “Open USD (OUSD),” w
Slide 83: Proof of Concept for Japan-Korea Cross-Border Transactions
④ Promoting Proof of Concept for Japan-Korea Cross-Border Transactions Using Stablecoins with Leading Korean Financial Institutions SBI Group Korean partners Initiatives Verifying cross-border Kyobo Life transactions of JPY-denominated Insurance stablecoins on the Canton Network NICE Information & V
Slide 84: Striving to Make JPYSC Recognized in the U.S.
⑤ Striving to Make JPYSC a JPY-Denominated Stablecoin Also Recognized in the U.S. [U.S. Framework] GENIUS Act (enacted July 2025; to take effect Jan. 2027) From July 2028, stablecoins that can be handled on U.S. exchanges, etc. will be limited to those issued by approved issuers A path is also o
Slide 85: The Fourth Megabank Concept
3. The “Fourth Megabank Concept,” led by SBI Shinsei Bank as a wide-area regional platform provider, is making steady progress (1) Building a robust collaboration framework with regional banks, with SBI Shinsei Bank at the core (2) Promoting SBI Shinsei Bank’s transformation into a digital bank in a
Slide 86: Building collaboration framework with regional banks
(1) Building a robust collaboration framework with regional banks, with SBI Shinsei Bank at the core [Unauthorized reproduction is prohibited] 85
Slide 87: Fukushima Bank and Shimane Bank Became Equity-Method Affiliates
The Fukushima Bank and The Shimane Bank Became Equity-Method Affiliates of SBI Shinsei Bank (June 30, 2026) Voting rights ratio Voting rights ratio • SBI Shinsei Bank: 20.91% • SBI Shinsei Bank: 34.19% • Fund Operated • Fund Operated by the SBI Group: 13.08% by the SBI Group: 1.07% [The Shimane Bank
Slide 88: Promoting Sales of Financial Products to Regional Financial Institutions
SBI Shinsei Bank Is Promoting Sales of the Financial Products It Arranges to Regional Financial Institutions Sales results of arranged products in this 1H Financial institutions transacted with: 56 institutions / Results: 149 deals, JPY 179.6bn Sustainable finance: JPY 418.0bn arranged, with sal
Slide 89: Collaboration with Regional Financial Institutions
Collaboration with Regional Financial Institutions Is Steadily Taking Shape in Various Forms [The Cloud-based Core Banking System for Financial Institutions, the “Next-generation Banking System”] • Introduction and adoption decided at 6 financial institutions (Introduced: The Fukushima Bank, The Shi
Slide 90: Promoting SBI Shinsei Bank's transformation into a digital bank
(2) Promoting SBI Shinsei Bank’s transformation into a digital bank in anticipation of the on-chain shift of finance ① Positioning and expanding SBI Shinsei Trust & Banking as the core of the SBI Group’s digital finance domain ② Endeavoring to evolve further by leveraging the expertise and networks
Slide 91: On-Chain Shift in the U.S.: Moov and Coinbase
In the U.S., Where the On-Chain Shift of Finance Is Progressing Ahead of Japan, the Introduction of Stablecoins, etc. Is Advancing Even at Small Financial Institutions Such as Community Banks [Case Study in the U.S.] In Sept. 2026, Moov, which provides payment infrastructure to over 1,000 community
Slide 92: SBI Shinsei Trust & Banking as Core of Digital Finance
① Positioning and Expanding SBI Shinsei Trust & Banking as the Core of the SBI Group’s Digital Finance Domain - Merger with SBI Clearing Trust Scheduled for Dec. 31 - SBI Shinsei Trust & Banking SBI Clearing Trust (Surviving Company) (Absorbed Company) Issuer of the stablecoin “JPYSC” (Issuance star
Slide 93: Leveraging expertise and networks of overseas partners
② Endeavoring to evolve further by leveraging the expertise and networks of the SBI Group’s overseas partners and investee companies [Unauthorized reproduction is prohibited] 92
Slide 94: Partnership with CRB Group
Agreed in Principle on a Partnership with CRB Group, the Parent of U.S.-Based Cross River Bank, Which Provides Embedded Finance CRB Group, Inc. [Strategic Alliance Partner: Overview of CRB Group] Founded in 2008, headquartered in New Jersey, U.S. Provides embedded finance for fintech companies,
Slide 95: Investment in Erebor Bank
Investment in Erebor Bank, a U.S. Digital Bank [Investee: Overview of Erebor Bank] Co-founded in 2025 by Palmer Luckey (founder of Anduril and Oculus), Owen Rapaport (co-founder and CEO) and others Obtained a U.S. a U.S. national bank charter and opened in Feb. 2026 Deposits surpassed USD 7.0b
Slide 96: Transforming the insurance industry through integration
4. Transforming the insurance industry through the integration of the Asset Management Business and the Insurance Business, improving the transparency of insurance cost structures and returning profits to policyholders through earnings growth from enhanced investment capabilities (1) Changing the co
Slide 97: SBI GAM and SBI Insurance Group to Integrate Operations
SBI Global Asset Management and SBI Insurance Group to Integrate Their Operations - Promoting cost disclosure to consumers and the return of investment income to policyholders through integrated management of “investment” and “insurance” - SBI Global Asset SBI Insurance Group Management (Surviving c
Slide 98: Changing industry wisdom by disclosing loading premiums
(1) Changing the conventional wisdom of the insurance industry by disclosing loading premiums and other costs ① SBI Group is changing industry practices in insurance, following securities and banking ② Breaking industry practice by disclosing the cost structure, including loading premiums, for its o
Slide 99: SBI Group Is Changing Industry Practices in Insurance
① SBI Group Is Changing Industry Practices in Insurance, Following Securities and Banking Current state of the industry SBI Group’s Answer ・ Sales network centered on face- ・ Industry-lowest-level premiums through direct to-face channels and agencies sales Cost ・ Personnel expenses and commissions p
Slide 100: Disclosing the Cost Structure of Insurance Products
② Breaking Industry Practice by Disclosing the Cost Structure, Including Loading Premiums, for Its Own Insurance Products - Toward a market where consumers can properly compare and choose insurance products - Composition of insurance premiums (illustrative) Three effects of disclosure Understand the
Slide 101: Realizing the investment x insurance model
(2) Realizing in Japan the “investment × insurance” model spreading overseas, and seeking to expand assets under management ① Extending “from savings to investment” to insurance and pensions, approx. one-quarter of household financial assets ② “Investment × insurance” model led by major asset manage
Slide 102: Extending From Savings to Investment to Insurance and Pensions
① Extending “From Savings to Investment” to Insurance and Pensions, Approx. One-Quarter of Household Financial Assets [Changes in the Breakdown of Household Financial Assets] Source: Bank of Japan, “Flow of Funds Accounts” Cash and Stocks, investment Insurance, deposits trusts, etc. pensions, etc. E
Slide 103: Investment x Insurance Model Spreading Overseas
② “Investment × Insurance” Model Led by Major Asset Managers Is Spreading Overseas - In the U.S., major asset managers grow AUM and corporate value through integration with insurance - Jan. 2024 Since 1967 May 2022 KKR Berkshire Hathaway Brookfield (PE fund) (U.S. investment company) (Canadian inves
Slide 104: Virtuous Cycle Through Integrated Investment and Insurance
③ Creating a Virtuous Cycle Through Integrated Management of Investment and Insurance, with Part of Investment Income Returned to Policyholders and Beneficiaries [Leveraging Asset Management Capabilities for Insurance] Seeking to enhance asset liability management (ALM) and improve 1. Integrated man
Slide 105: Striving to Reach AUM of JPY 50tn in 2030
④ Using “Investment × Insurance” as a Growth Engine, Striving to Reach AUM of JPY 50tn in 2030 [AUM of SBI Global Asset [Three Drivers of AUM Growth] Management Group] JPY 50tn 1 Managing the Group’s insurance assets Through the integration, managing the assets of Approx. Group insurance companies i
Slide 106: Building a business foundation for the Neo-media concept
5. Strongly promoting the building of a business foundation to realize the Neo-media concept - Integrated initiatives for IP creation, enhanced reliability of information and expansion of customer touchpoints - (1) Promoting diverse initiatives for the acquisition, creation and development of IP (in
Slide 107: Acquisition, creation and development of IP
(1) Promoting diverse initiatives for the acquisition, creation and development of IP (intellectual property), a strategic asset ① Expansion of IP investment and IP creation and development functions ② Expanding the IP creation and development platform through partnerships with leading companies [Un
Slide 108: Building an IP Creation Support Model in Japan
SBI Group Mobilizes Its Full Strength to Build an IP Creation Support Model in Japan Acquiring, creating and developing IP that can continuously create value across diverse businesses and markets is essential to the growth of the SBI Group’s Neo- media Business Japan’s IP industry faces various
Slide 109: Launch of CONTENT INNOVATION Project
Launch of the New Project “CONTENT INNOVATION” (Tentative Name) to Create and Develop IP in Japan - Building a system that brings together the knowledge and expertise of experts to continuously discover and develop IP that can succeed globally - “CONTENT INNOVATION” (Content Creation and Development
Slide 110: Expansion of IP investment and creation functions
① Expansion of IP investment and IP creation and development functions [Unauthorized reproduction is prohibited] 109
Slide 111: Accelerating Investment in the IP Field
Accelerating Investment in the IP Field Directly or Through Funds SBI Neo Content Investment LP Total commitment capital: JPY 100bn (planned) Track record of investments in approx. 3,000 companies in Japan and overseas Cool Japan-SBI Content Investment Through the Neo-media Business, Limited Par
Slide 112: Neo-Media Ecosystem IP Creation Platform
The “Neo-Media Ecosystem” Has Already Built an IP Creation and Development Platform Through Investments <Examples of Neo-media Ecosystem constituent companies> THE CORE (equity-method affiliate) TWIN PLANET (equity-method affiliate) A team of engineers specializing Integrated IP/talent managemen
Slide 113: Expanding IP platform through partnerships
② Expanding the IP creation and development platform through partnerships with leading companies [Unauthorized reproduction is prohibited] 112
Slide 114: Strategic Business Alliance with YOSHIMOTO KOGYO HOLDINGS
Strategic Business Alliance with YOSHIMOTO KOGYO HOLDINGS CO., LTD. (Announced Oct. 14, 2026) - Establishing a JV to create and develop entertainment IP originating from Japan and expand it worldwide - SBI Group strives toward new IP creation and global expansion by combining its business foundation
Slide 115: Strategic Alliance with Fuji Media Holdings
Specific Measures of Strategic Capital and Business Alliance with Fuji Media Holdings, Inc. (FMH) (Announced Nov. 2, 2026) Establishment of a joint venture centered on the “Real Media*” field As a holding company, the joint venture plans to establish subsidiaries for each business area sequentia
Slide 116: Building a Fan Platform for IP Creation
Building a Fan Platform that Contributes to the Creation and Development of IP in Japan Through Co-Creation Between SBI Group and FMH Group The FMH Group has hosted “TOKYO IDOL FESTIVAL” (TIF), one of Japan’s largest idol events, since 2010 (TIF2026: approx. 89 thousand participants; 212 groups, 1
Slide 117: SBI x CEG CREATORS' PROGRAM Film Project Competition
SBI Group and Culture Entertainment Group Inc. Jointly Hold the Film Project Competition “SBI×CEG CREATORS’ PROGRAM” - Discovering next-generation creators and supporting the growth of content from Japan - Inherits the philosophy of the “TSUTAYA CREATORS’ PROGRAM,” which discovered numerous films
Slide 118: Livedoor to Become a Wholly Owned Subsidiary
(2) Livedoor Co., Ltd. to Become a Wholly Owned Subsidiary to Build a Fair, Impartial and Global Information Platform Operates “livedoor News,” one of Japan’s largest general news sites, and the blog service “livedoor Blog” Total monthly users of approx. 100m and cumulative social media follower
Slide 119: Creating customer touchpoints through live events
(3) Creating new customer touchpoints by hosting and sponsoring live events [Unauthorized reproduction is prohibited] 118
Slide 120: Creating Brand Touchpoints Through Live Events
① Creating Brand Touchpoints Through Live Events Such as “SBI Mai Hanabi” as “Experiences People Want to Talk About” Rather than as Advertising • “SBI Mai Hanabi,” a new type of fireworks festival combining music, fireworks and spatial production, held across Japan • “SBI MUSIC CIRCUS,” one of Japan
Slide 121: Participation in TOKYO GIRLS COLLECTION
② Participation in “TOKYO GIRLS COLLECTION” (TGC), One of Japan’s Largest Fashion Events • TGC is one of Japan’s largest fashion events for young people, planned and operated by capital and business alliance partner W TOKYO (cumulative participants: over 8m, in-person and online combined) • W TOKYO
Slide 122: Sponsoring the Las Vegas Grand Prix
③ Sponsoring the FIA Formula One World Championship “Las Vegas Grand Prix” (to Be Held in Nov. 2026) Leveraging F1’s overwhelming media value as well as its network value as a gathering place for companies, investors and high-net-worth individuals from around the world, toward raising awareness of t
Slide 123: Reference Materials
[Reference Materials] [Unauthorized reproduction is prohibited] 122
Slide 124: SBI Group Top in FX Accounts and Margin Deposits
Securities Business: SBI Group Is the Top in the Industry for Numbers of FX Accounts and Margin Deposits Number of Accounts among Customer Margin Deposits among Major FX Trading Companies Major FX Trading Companies (End of Sept. 2023 - End of Sept. 2026) (End of Sept. 2023 - End of Sept. 2026) (Thou
Slide 125: SBI SECURITIES iDeCo Industry Leader
Securities Business: SBI SECURITIES Continues to Enhance the Convenience of Its Individual-Type Defined Contribution Pension (iDeCo) and Maintains Its Position as the Industry Leader in Cumulative Customer Number [Cumulative Number of Customers (Subscribers & Transfers*) (thousand) of iDeCo by Plann
Slide 126: Expanding iDeCo and Corporate-Type DC Plans
Securities Business: Striving to Further Expand iDeCo and Corporate- Type DC Plans Administered by SBI Benefit Systems, as a Strategic Product SBI SECURITIES made iDeCo administrative fees completely free of charge on May 19, 2017, to further expand iDeCo business Corporate type DC has 23,037 en
Slide 127: Neo-media Ecosystem Companies and Alliance Partners
Major Constituent Companies and Alliance Partners of the Neo-media Ecosystem : Listed company Red: Consolidated subsidiaries Blue: equity-method affiliates Announcement Announcem Announcement date Company name ent date Company name date Company name Dec. 22, Jan. 8, DENTSU / Dentsu ① 2022 gumi ⑫ 202
Slide 128: SBI Group's Customer Base Has Expanded Dramatically
SBI Group’s Customer Base Has Expanded Dramatically (Million) Breakdown of the Customer Base 90 89.2 (as of the end of Sept. 2026) *1,2 (Million) 82.6 SBI SECURITIES, FOLIO, 78.4 and SBI Neotrade Securities (No. of accounts) 16.9 80 SBI Holdings InsWeb (No. of customers) 11.7 70 Overseas financial s
Slide 129: Shareholder Composition of SBI Holdings
Overview of the Group: Shareholder Composition of SBI Holdings (As of the end of Sept. 2026) Shareholders: 290,814, of which 215,182 hold share units*1 Institutional ownership (Japan and overseas): 56.8% (%) Changes in Shareholder Composition Ratio Others *2 100 3.8 2.8 5.0 6.8 5.7 6.3 Individua
Slide 130: Number of SBI Group Companies and Consolidated Employees
Overview of the Group: Number of SBI Group Companies and Consolidated Employees Number of Group Companies End of Mar. 2026 End of Sept. 2026 Consolidated subsidiaries (companies)* 681 747 Consolidated partnerships (partnerships) 59 68 Total consolidated subsidiaries (companies) 740 815 Equity-method
Slide 131: https://www.sbigroup.co.jp
https://www.sbigroup.co.jp [Unauthorized reproduction is prohibited] 130