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Copyright(C)2019 JTRUST Co.,Ltd. All Rights Reserved. 1

Presentation Material for Individual Investors

February 21st - March 12th, 2019J Trust Co., Ltd. Web version

22

Table of Contents

１．Company Introduction

２. The “Strengths” of J TRUST

３．Introduction to Business Segments・ Financial Business in Japan ・ Financial Business in South Korea & Mongolia ・ Financial Business in Southeast Asia・ Other operations

４．Engaging with our investors

33

Disclaimer• Information regarding forecasts listed in this document is estimated based on the

knowledge, opinions and judgement of the company at the time of the document’s creation and contains underlying risks and uncertainties. Therefore, please understand that actual results and forecasts listed here are subject to change greatly depending upon various factors such as business environment.

• The earnings presentation as well as this document are intended to provide information about J Trust and are not intended to solicit investments in securities issued by the company.

• In principle, the units listed on each page have been rounded down to the nearest unit of display. In addition, differences listed next to charts and graphs illustrating YOY comparisons are calculated using the display unit of billions.

• “Profit (or loss) attributable to owners of parent” listed within this material is displayed as “Profit (or loss)”.

• This English-translated document was prepared solely for the convenience of English-speaking investors. If any discrepancies exist between this translation and the original Japanese document, the Japanese version always prevails. J Trust shall not be liable for any damages or losses of profit arising from this translation.

4

Foreword

5

What is “J TRUST”?

5

A finance company that A finance company that provides financial services provides financial services unconstrained by existing unconstrained by existing

paradigms

The J Trust Group’s Behavioral PrinciplesJ Justice ConductConduct business with integrity. T Teamwork Respect individualsRespect individuals to form an organization.R Revolution StimulateStimulate a spirit of innovation for new value.U Uniqueness Embrace ingenuity. S Safety Deliver services with sincerity.T Thankfulness ExpressExpress gratitude.

6

J Trust provides finances primarily through bank business

6

Financial Business in Japan

Non-financial Business

Nihon HoshouPartir ServicerJ Trust Card

KeyHolderKeynoteKeyStudioKeyProductionFA ProjectJ Trust Systemsand 1 more company

JapanConsolidated subsidiaries

13Employees

400Financial Business in Southeast Asia

J Trust Bank IndonesiaJ TRUST OLYMPINDOJ TRUST INVESTMENTS INDONESIA

Financial Business Indonesia

Consolidated subsidiaries

3Employees

1,861

Investment Business

JTrust Asia

Investment SingaporeConsolidated subsidiaries

1Employees

6

Financial Business in South Korea &

Mongolia

JT Chinae Savings Bank JT Savings Bank JT CapitalTA Asset Management

J TRUST CREDIT NBFI

MongoliaConsolidated subsidiaries

1Employees

16

South Korea

Consolidated subsidiaries

4Employees

976

Consolidatedd subsidiaries s : 29

As of December 31As of December 31stst, 2018.As of December 31As of December 31 , 2018., 2018., 2018.There are other special purpose vehicles and overseas companies besides There are other special purpose vehicles and overseas companies besides those listed above which are not shown here.

Consolidated number of

employees : 3,259

7

１．Company Introduction

8

Who is President & CEO Nobuyoshi Fujisawa?

8

Year

1970 Born in Gifu Prefecture

1990Entered Tokyo University, concentrated on his part-time job and graduated in 9 years from School of Medicine

2001 Joined Be Japan Co., Ltd., a property loan company

2002 Joined Workout Receivables Collection, a collection agency

2003 Became President & CEO at Be Japan after working there for two years

2004 Acquires Be Japan shares from owner to become the company’s majority shareholder

2007 Became President & CEO of Kazaka Servicer Co., Ltd. (currently Partir Servicer Co., Ltd.)

2008 Made a takeover bid for J TRUST (formerly IKKO) and became the majority shareholder

2010 Became a Director of ADORES Co., Ltd.(Currently KeyHolder)

2011 Became President & CEO of J TRUST

2012 Took over (a part of) Takefuji, which had gone bankrupt, through M&A

2014 Moved to Singapore to plan for M&A in Asia

2018 Reestablished base of operations in Japan

99

J Trust was founded in 1977 and has operated in its current form since 2008.

1977

2008

2002002009

2011

2013

2014

Changed company nameChanged company nameto J TRUST

Founded as IKKO

Takeover bid made by Takeover bid made by Nobuyoshi Fujisawa

2018

Expanded into Expanded into Singapore

Expanded into Expanded into Indonesia

Expanded intoExpanded intoSouth Korea

Expanded into Expanded into Mongolia

2019

10

12 39 37 37

117

218

334

540 508

619 656 674

0

100

200

300

400

500

600

700

800

2008/3 2009/3 2010/3 2011/3 2012/3 2013/3 2014/3 2015/3 2016/3 2017/3 2018/3 2019/3(Q3)

10

J TRUST’s total assets have grown from 12 billion yen to nearly 700 billion.

Unit: Billions of yen

674

39

334

540 508

619 656

37 37

117

218

334 334

39

334 334

Total assets have increased Total assets have increased Total assets have increased Total assets have increased roughly 55 times over

Calculated with IFRS

11

Operating revenue has increased from 3.2 billion yen to 75 billion.

11

3 4

16 16

24

55

61 63

75

66

76 75

0

10

20

30

40

50

60

70

80

2008/3 2009/3 2010/3 2011/3 2012/3 2013/3 2014/3 2015/3 2016/3 2017/3 2018/3 2019/3/1(Forecast)


Operating revenue increased Operating revenue increased roughly 23 times over

4

16 16

24

55

61 63

75

66

76 75

Operating revenue increased Operating revenue increased Operating revenue increased Operating revenue increased roughly 23 times overroughly 23 times overroughly 23 times overroughly 23 times over

4

Calculated with IFRS

12

0.0 0.2

4.1 4.3 5.5

12.0 13.7

-5.2 -4.1

0.6 2.3

-32-10

-5

0

5

10

15

20

2008/3 2009/3 2010/3 2011/3 2012/3 2013/3 2014/3 2015/3 2016/3 2017/3 2018/3 2019/3(Forecast)

Operating Profit

12

Unit: Billions of yenCalculated with IFRS

13

２．The “Strengths” of J TRUST are . . .

1414

The J TRUST “technology” that supports growth!

③③Ability to judge potentialAbility to judge potentialAbility to judge potential

(M&A)

①①Quick Quick Quick

decisionQuick Quick

decisiondecisiondecision-Quick Quick Quick Quick Quick Quick Quick Quick

decisiondecisiondecisiondecision--making

②②Operational knowOperational know-Operational know-howOperational knowOperational knowOperational knowOperational know howhowhow

(Human resources) (Human resources) Screening, collection and

marketing abilitiesScreening, collection andScreening, collection andScreening, collection andScreening, collection andScreening, collection andScreening, collection and

marketing abilitiesmarketing abilitiesmarketing abilitiesmarketing abilities

1515

J Trust’s strengths: “Operational knowJ Trust’s strengths: “Operational know-J Trust’s strengths: “Operational know-how”

Var i ou s k i n d s o f h u m an re sou rc e s Va r i ou s k i n d s o f h u m an re sou rc e s an d e xp e r t i sean d e xp e r t i se

a re c on so l i d a te d

1616

Executive and regular employees with advanced specialties and Executive and regular employees with advanced specialties and Executive and regular employees with advanced specialties and knowledge are working actively on a global scale.

Status of employees with specialized certifications

Chief of Money Lending OperationsReal Estate Transaction AgentArchitect (Class 1)Condominium ManagerProperty Manager RepresentativeReal Estate BrokerLS Asset ManagerPublic ScrivenerSmall/Medium EnterpriseManagement ConsultantBookkeeper (Class 1)Bookkeeper (Class 2)National Association of BookkeepingCertification (Class 1)

Bank Risk ManagementBank ComplianceTreasury DealerInternal Bank AuditorLawyer

Bank TellerAsset ManagerIntl. Certified Financial PlannerCredit AnalystAccounting Management (Class 1)Accounting Management (Class 2)LawyerTax AccountantCertified Public AccountantEx-employee of Financial AuthoritiesEx-employee of DICEx-employee of Central BankUniversity ProfessorTrust ManagerTrust AnalystLoan OfficerFinance ManagerCertified Public Internal AuditorComputerized Tax CertifiedComputerized Accounting CertifiedReceivables ManagerInvestment Counselor

※ In South Korea, a “Bank Teller” certification is highly regarded.

4375

1291

9147133720

1413684131

351122213

222

133

※ As of December 31※ As of December 31stst, 2018

20563124

111

109411

341

Bank Teller 91

South Korea

Indonesia

Chief of Money Lending OperationsChief of Money Lending OperationsChief of Money Lending OperationsChief of Money Lending Operations

Japan

1717

J TRUST`s strengths:J TRUST`s strengths: ””” The ability to judge future potential”

Returns from the investments

※ Returns from the investments※ Returns from the investments＝＝＝IRR (Internal rate of return)IRR (Internal rate of return)IRR (Internal rate of return)This shows the amount of returns in relation to the amount invested

Now YJ Card (Softbank Group)

A listed company in Singapore

Lending company of Hyundai Group

Now Hokuto Printing※ A subsidiary of

Kenkou Corp (RIZAP)

IRR83%

IRR42%

IRR5%

IRR18%

IRR28%

3535％

18

Through a threeThrough a three-Through a three-tiered business structure, our group produces profits Through a threeThrough a threeThrough a threeThrough a three tiered business structure, our group produces profits tiered business structure, our group produces profits tiered business structure, our group produces profits whether or not economic conditions are favorable.

18

Bank Business

Nonbank Business Servicer Business

Indonesia/South Korea/Japan

In favorable In favorable conditions…

In unfavorable In unfavorable conditions…

19

３．Segment Introduction

20

12%

48%18%

11%

9%

JTS, etc..2%

20

３．Our Group has expanded business in Japan and across Asia

Financial Business in JapanFinancial Business in Japan9.0 billion JPY

Investment BusinessInvestment Business7.2 billion JPY

※ Revenue figures based on FY03/2018 data※ Revenue figures based on FY03/2018 data※ Non※ Revenue figures based on FY03/2018 data※ Non※ Non-※ Revenue figures based on FY03/2018 data※ Revenue figures based on FY03/2018 data※ Revenue figures based on FY03/2018 data※ Non※ Non-financial Business = General entertainment/real estate business

Financial Business in Financial Business in South Korea & MongoliaSouth Korea & Mongolia

35.8 billion JPYFinancial Business in SE AsiaFinancial Business in SE Asia

13.5 billion JPYNonNon-Non-financial BusinessNonNon financial Businessfinancial Businessfinancial Business

8.8 billion JPY

2121

Financial Business in Japan is focused on credit guarantee business Financial Business in Japan is focused on credit guarantee business Financial Business in Japan is focused on credit guarantee business and collections of receivables.

Credit guarantees Receivables collection Credit card business

22

4.14.4

0.9

1.2

1.1

1.2

4Q2018/03

1Q 2Q 3Q 4Q(Forcast)

TOTAL2019/03

Operating Profit

22

Stable revenue and profit were recorded for Financial Business in Stable revenue and profit were recorded for Financial Business in Stable revenue and profit were recorded for Financial Business in Japan

9.0 10.6

2.3

2.5

2.5

3.3

4Q2018/03

1Q 2Q 3Q 4Q(Forecast)

TOTAL2019/03

Operating RevenueUnit: Billions of yen

23

38 49

18

151

57

200

2016/6 9 12

2017/3 6 9 12

2018/3 6 9 12

23

Our credit guarantee business has steadily expanded.

Unit: Billions of yenGuarantees outstanding

Light shade= Condominium loan guaranteesDark shade= Other guarantees

24

Purchases of NPLs has continued to be successful.

730 729 759 766 772 773 783 783

Approx. 110

Approx.110

Approx.110

Approx. 130

Approx.140

Approx.140

Approx. 140

Approx.140

Balance includes both purchased and claimed receivables.Balance includes both purchased and claimed receivables.Balance includes some onBalance includes both purchased and claimed receivables.Balance includes some onBalance includes some on-Balance includes both purchased and claimed receivables.Balance includes both purchased and claimed receivables.Balance includes both purchased and claimed receivables.Balance includes some onBalance includes some on-balance assets.


Balance of receivables in servicer business

Total:Over 900 billion JPY

Claimable receivablesat Nihon Hoshoutaken over fromTakefuji Corporation

Balance of receivables handledby Partir Servicer

2525

Financial Business in South Korea & Mongolia has been developed Financial Business in South Korea & Mongolia has been developed Financial Business in South Korea & Mongolia has been developed based around banking business.

Savings bank business Capital business Receivables collection

Mongolia: Finance business

26

Our South Korean savings banks rank in the TOP 3 for asset size.

Rank Name of bank Amount of assets

１ SBI Savings Bank 6,949.66,949.6 billion KRW

２ OK Savings Bank 4,836.94,836.9 billion KRW

３４ Korea Investment Savings Bank 2,653.82,653.8 billion KRW

５ Eugene Savings Bank (formerly Hyundai) 2,302. 72,302. 7 billion KRW

６ Welcome Savings Bank 2,299.8 billion2,299.8 billion KRW

７ Pepper Savings Bank 2,264.42,264.4 billion KRW

８ Acuon（ex-HK）Savings Bank 2,247.3 billion2,247.3 billion KRW

79 Daea Mutual Savings Bank 21.221.2 billion KRW

※ Based on standards from September 30※ Based on standards from September 30thth, 2018

27

3.5

4.6

1.4

1.0

1.6

0.6

4Q2018/03


TOTAL2019/03

Operating Profit

27

Even amid regulatory enhancements, our group recorded a stable revenue Even amid regulatory enhancements, our group recorded a stable revenue and profitEven amid regulatory enhancements, our group recorded a stable revenue Even amid regulatory enhancements, our group recorded a stable revenue and profitand profit.

35.840

10.1

10.1

10.0

9.8

4Q2018/03


TOTAL2019/03

Operating Revenue


2828

As the loan balance continued to grow, our group worked on improving the As the loan balance continued to grow, our group worked on improving the quality of assets.

1,194 1,374

873

1,060 157

190 930

961

1,717

3,156

3,588

2015/06 09 12

2016/03 06 09 12

2017/03 06 09 12

2018/03 06 09 12

Secured business loans

Unsecured business loans

Secured consumer loans

Unsecured consumer loans

Loan portfolio (in KGAAP standards)

※Combined total of JT Chinae Savings Bank, JT Savings Bank and JT Capital※Combined total of JT Chinae Savings Bank, JT Savings Bank and JT CapitalReference rate※Combined total of JT Chinae Savings Bank, JT Savings Bank and JT CapitalReference rateReference rate：※Combined total of JT Chinae Savings Bank, JT Savings Bank and JT Capital※Combined total of JT Chinae Savings Bank, JT Savings Bank and JT Capital

：：1※Combined total of JT Chinae Savings Bank, JT Savings Bank and JT Capital※Combined total of JT Chinae Savings Bank, JT Savings Bank and JT Capital※Combined total of JT Chinae Savings Bank, JT Savings Bank and JT Capital

11 KRW※Combined total of JT Chinae Savings Bank, JT Savings Bank and JT Capital

KRWKRW＝※Combined total of JT Chinae Savings Bank, JT Savings Bank and JT Capital※Combined total of JT Chinae Savings Bank, JT Savings Bank and JT Capital※Combined total of JT Chinae Savings Bank, JT Savings Bank and JT Capital

＝＝0.0994※Combined total of JT Chinae Savings Bank, JT Savings Bank and JT Capital※Combined total of JT Chinae Savings Bank, JT Savings Bank and JT Capital

0.09940.0994 JPY※Combined total of JT Chinae Savings Bank, JT Savings Bank and JT Capital

JPYJPY（※Combined total of JT Chinae Savings Bank, JT Savings Bank and JT Capital※Combined total of JT Chinae Savings Bank, JT Savings Bank and JT Capital※Combined total of JT Chinae Savings Bank, JT Savings Bank and JT Capital

（（（（Calculated using rate on December 31Calculated using rate on December 31Calculated using rate on December 31ststst, 2018)

Unit: Billions of won

2929

The J Trust Group’s own JT Chinae Savings Bank achieved the highest consumer The J Trust Group’s own JT Chinae Savings Bank achieved the highest consumer approval rating in the Savings Bank Category.

First Brand Awards

What are the “First Brand Awards”? The First Brand Awards are given every year to one company in

each industry which receives the highest satisfaction rating from consumers. Approximately 310,000 people participated by ballot in this year’s First Brand Awards, making it the largest-scaled award in the history of the event. In the Savings Bank Category, the final selection came down to nine banks among which JT Chinae Savings Bank received the highest marks.

3030

Initiatives by the South Korean segment of the J Trust Group

Improving efficiency through full utilization of “Internet of Things” (IoT) & Fintechas well as consolidation of branch locations

Full utilization of IT/IoT/Fintech Consolidation of branch locations

(since 2015） JT Chinae 15 stores→ 11 stores

(Closed 4) JT Capital 14 stores→ 6 stores

(Closed 8) A seminar about Fintech was held.

31

Bank business Non-bank financialbusiness 債権回収事業

We even developed business in Indonesia centered around finance We even developed business in Indonesia centered around finance We even developed business in Indonesia centered around finance and servicer business.

31

Servicer business

3232

Southeast Asia offers large potential for business.

Country Population (in thousands) Average age (in years)

Indonesia 261,990 30.2

The Philippines 100,492 23.5

Vietnam 93,640 29.8

Thailand 69,100 37.7

Myanmar 52,650 29.0

Malaysia 32,020 28.5

Cambodia 16,010 25.3

Laos 6,680 23.0

Singapore 5,610 34.6

SourcesSources：：World Population Prospects The 2017 RevisionWorld Population Prospects The 2017 Revision（（（PopulationPopulation）：World Population Prospects The 2017 RevisionWorld Population Prospects The 2017 RevisionWorld Population ReviewWorld Population Prospects The 2017 RevisionWorld Population ReviewWorld Population Review（World Population Prospects The 2017 RevisionWorld Population Prospects The 2017 RevisionWorld Population Prospects The 2017 Revision

（（（（Average ageWorld Population Prospects The 2017 RevisionWorld Population Prospects The 2017 Revision

Average ageAverage age）

33

1.5

--18.3

--0.7 --1.7

--11.9

--4.0

4Q2018/03


TOTAL2019/03

Operating Profit

33

Although we struggled to rebuild a failed bank, we expect profit Although we struggled to rebuild a failed bank, we expect profit Although we struggled to rebuild a failed bank, we expect profit contributions to be made from the next fiscal year onward.

13.5 12.9

3.1

3.1

3.2

3.5

4Q2018/03


TOTAL2019/03

Operating Revenue


3434

Our investment business is based on a Singapore entity.

Investing in group companies and Investing in group companies and Investing in group companies and Investing in group companies and Investing in group companies and Investing in group companies and Investing in group companies and managing assets

• JJ TrustTrust CreditCredit NBFIJJ（

TrustTrust CreditCreditJ TrustTrust（（Mongolia

CreditMongoliaMongolia）

NBFINBFICreditCredit NBFICredit））100%

• J TRUST OLYMPINDO MULTI J TRUST OLYMPINDO MULTI FINANCE (Indonesia) 60%

• J Trust Investments J Trust Investments Indonesia 84.36%

•Indonesia 84.36%Lending to Group LeaseLending to Group Lease

$180 million USD

※ Group Lease※ Group Lease：：A listed company in Thailand

35

--2.8

--20.4

0.1--24

--17.7

--0.4

4Q2018/03


TOTAL2019/03

Operating profit

35

All risks related to GL are now covered by a reserve, and starting next All risks related to GL are now covered by a reserve, and starting next All risks related to GL are now covered by a reserve, and starting next year all recovered funds will be included in operating profit.

7.2

0.90.2

0.30.4 ０

4Q2018/03


TOTAL2019/03

Operating revenue


36

NonNon-Non-financial Business will run under the umbrella of KeyHolder NonNonNonNon financial Business will run under the umbrella of KeyHolder financial Business will run under the umbrella of KeyHolder financial Business will run under the umbrella of KeyHolder (JASDAQ: 4712)

36

Real estate

Commercial facility construction

Live entertainment

TV program production

Live entertainment

Performing arts production

Sum by fiscal yearSales（Segment） (Unit： 1 million JPY)

Sum by fiscal yearOperating Profit (Segment) Unit: 1 million JPY

ConsolidatedFY ending in March,2016



Sales※1 22,396 22,355 19,523GeneralEntertainment 14,789 13,302 10,539Real Estate 6,192 6,775 7,329Commercial Facility Construction

769 2,199 1,448

Elderly Care 608 - -Store subleasing - 48 186




●Operating Profit※1 578 796 228GeneralEntertainment 699 760 256Real Estate 493 536 680Commercial Facility Construction

8 104 40

Elderly Care -110 - -Store subleasing - 5 33

37

We have even expanded bankWe have even expanded bank-We have even expanded bank-centered business into Cambodia.

37

A promotional campaign was launched in February 2019 A promotional campaign was launched in February 2019 A promotional campaign was launched in February 2019 A promotional campaign was launched in February 2019 A promotional campaign was launched in February 2019 A promotional campaign was launched in February 2019 A promotional campaign was launched in February 2019 using the phrase “Coming Soon”.

Cambodia is located in the center of SE Asia

Cambodia

38

ANZ Royal has maintained a high profit margin through conservative ANZ Royal has maintained a high profit margin through conservative ANZ Royal has maintained a high profit margin through conservative management.

38※ Data taken from 2017 Annual Report

28 30 31 30 30

1618 19 18 17

4448

5048 47

2013 2014 2015 2016 2017

Operating Revenue

Fees andothers

Net interestincome

Unit: Millions of US dollars

2126 28 26 27

21

2628

26 27

2013 2014 2015 2016 2017

Operating Profit

39

４．Engaging with our investors

40

Holding earnings presentations every quarter (previously once every six months)

Posting earnings presentation videos in English and Japanese (English version is dubbed)

Releasing earnings statements and news releases simultaneously in Japanese and English

In addition to earnings presentation materials and supplementary materials, we began disclosing monthly data.

Participating in presentations for individual investors Exhibition booths at IR Events (Postponed for 2018）

40

Engaging with investors/Engaging with investors/ Enhancing Investor Relations

41

• J Trust recognizes shareholders’ returns as one of its vital management tasks. With regard to dividends, J Trust focuses on maintaining stable dividends. We determine shareholders’ returns based on our comprehensive judgement of the future business environment and necessary investments for company growth.

Engaging with investors/Engaging with investors/ Dividend policies and shareholder incentives

12

3 3

5 5 56 6 6

1.5

43

34

5 5 5

6 6

1

2

2009.03 2010.03 2011.03 2012.03 2013.03 2014.03 2015.03 2016.03 2017.03 2018.03 2019.03(Forecast)

Commemorativedividends

Term end

Midterm

Unit: Japanese yen

2500

ポイントカード贈呈

2500

In FY03/2019, shareholders who held over 300 shares at the end of June and December were presented with a Rakuten point card worth 2,500 yen.

42

Reference Materials

4343

CorporateCorporate ProfileProfile（（As of December 31As of December 31stst, 2018)

Name J Trust Co., Ltd.

AddressToranomon First Garden1-7-12 ToranomonMinato-ku, Tokyo 105-0001

BusinesBusiness type Holding company

EstablishedEstablished on March 18th, 1977

Capital 53,644 million JPY

NumberNumber of NumberNumber of of employees

Main office: 51Consolidated：3,310

Listed exchangeTokyo Stock Exchange, 2nd Section(Securities Code: 8508)※ Since July 16th, 2013)

AccountingAccountingauditor Grant Thornton Taiyo LLC

Main office Main office Toranomon

Main office Main office ToranomonToranomon, Tokyo

4444

Feel free to use our email notification service and IR smartphone app!

Email notification service

To register for our email notification service, please visit:http://www.jt-corp.co.jp/en/ir

Select “email notification service” from the top page menu.

To register via cellphone, scan the QR Code below, enter the necessary information and click “Submit”.

IR smartphone app

How to download from App Store:

① Search “J Trust” in the“App Store” using your iPhone or iPad.

② Scan the QR Code.

How to download from Google Play:

① Search “J Trust” on“Google Play” using yourAndroid phone.

② Scan the QR Code.

4545

IR smartphone app

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