Operating revenue was ¥ ６６９ million (up, 75.8 %).
Sales of listed shares progressed in Japan and gains from project-oriented investments increased.
Quarterly net loss attributable to owners of parent was ¥ (６５５) million (down, ¥12 million). Provisions increased and the vegetable plant was delayed in turning a profit.
Business plan progress report
Although the numerical plan is downside, the action plan is progressing smoothly.
The operating revenue plan was met by 50.4%.
Some domestic listed shares were suspended from selling due to sluggish stock prices.
Quarterly net profit attributable to owners of parent was 645 million yen lower than planned. Provisions increased in addition to lower operating revenues.
Losses from the vegetable plant increased because production volume fell short of plan.
Healthcare and logistic, the next focus areas after mega solar, were recording profits and expanding the scale of assets.
Result forecasts (compared to the previous forecast)
Operating revenue of ¥3,1５0 million （up, 5％）, net profit attributable to owners of parent of ¥160 million （down, 70.9%）
Sale of shares from IPO have been postponed to the next fiscal year. Sale of other listed shares will fall short of target.
Sales of unlisted shares and project-oriented investments are strong and are expected to exceed the previous forecast.
Profit will decrease from the previous forecast. Revenues with high profit margin will decrease.
Provisions will increase and loss from the vegetable plant will also increase.
Financial Results Overview for 2nd Quarter of FY Mar. 2023
2. Results for the current quarter - Outline of results - I/S
(million yen)
FY 2022
FY 2023
Change
(2Q)
(2Q)
Operating revenue
381
669
75.8%
Operating cost
327
715
118.8%
Operating gross profit
53
(46)
-
SG&A expenses
550
552
0.4%
Operating income
(496)
(598)
-
Ordinary income
(538)
(640)
-
Profit attributable to
(643)
(655)
-
owners of parent
Factors for increased operating revenue
Private equity investment; sales of listed shares progressed in Japan
Project-orientedinvestment; 1 mega solar project was sold, and profit dividend was implemented from a logistic warehouse project that sold the facility in the previous fiscal year
Factors for increased operating cost
Provisions increased. Provisions were recorded for investee companies those experienced significant delays in business progress or for which negotiation for the recovery of investment took a long time.
Losses from the vegetable plant increased. Timing of profitability was delayed more than expected.
Losses from funds operated by other companies decreased. The losses incurred in the previous fiscal year (mainly recorded as extraordinary losses) .
Financial Results Overview for 2nd Quarter of FY Mar. 2023
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JAIC - Japan Asia Investment Co. Ltd. published this content on 14 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 November 2022 06:11:24 UTC.
Japan Asia Investment Company, Limited is a Japan-based company mainly engaged in the investment business in Japan and other areas of Asia. The Company is engaged in the investment through its funds such as investment partnerships and others, which are established by institutional investors and other investors and by the Group's own investment. The Company operates through three investment businesses. The management and operation business is involved in the conduction, management and operation of funds, as well as the provision of services of undertakes accounting and in-kind management. The investment business is involved in the investment in private equity and projects such as renewable energy, healthcare and smart agriculture. The other business in involved in the provision of peripheral services such as provides various types of information and services for supporting investee companies and investing in projects.
JAPAN ASIA INVESTMENT CO., LTD. 
