Investment Management

Quarterly

	FY2025/26							FY2026/27		FY2026/27
		1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
Net Revenue	50,574	60,825	60,906	86,211	98,314
Income (loss) before Income Taxes	21,527	30,711	17,939	18,120	44,987

	FY2021/22	FY2022/23	FY2023/24	FY2024/25	FY2025/26
Net Revenue	147,993	128,559	154,143	192,473	258,516
Income (loss) before Income Taxes	71,515	43,495	60,198	89,591	88,297

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.