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Quarterly

	FY2024/25							FY2025/26		FY2025/26	FY2025/26	FY2025/26
		1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
Net Revenue	47,670	56,087	45,711	43,005	50,574
Income (loss) before Income Taxes	23,179	31,935	18,938	15,539	21,527

	FY2020/21	FY2021/22	FY2022/23	FY2023/24	FY2024/25
Net Revenue	163,150	147,993	128,559	154,143	192,473
Income (loss) before Income Taxes	91,008	71,515	43,495	60,198	89,591

millions of yen
On April 1, 2021, Asset Management and Merchant Banking were dissolved and Investment Management newly established. As a result, figures of FY2019/20 and FY2020/21 have been reclassified in line with the disclosure format for FY2021/22.