Medium- to Long-Term Growth in AUM, Principal Investment FV, and Carried Interest
First written in FY2023. 6 of 10 entries say "Advanced", first in FY2024-H1. Latest entry: 2026-08-12.
The whole theme swung hardest in 2026: 1 of 12 companies on the "Worse" side.
8 other companies' latest entry also says "Advanced".
- FY2025AdvancedAnnual report
「Across its private equity, real estate and global tech-growth asset classes, the Group aims to increase AUM over the medium to long term by enhancing the value of portfolio companies and investment assets, maximize carried interest and continuously grow the fair value of principal investments.」
AUM rose from ¥288.5 billion to ¥576.5 billion, fee-earning AUM from ¥164.5 billion to ¥378.9 billion and principal-investment fair value from ¥38.1 billion to ¥43.5 billion. UCAT was ¥24.0 billion and economic net asset value was ¥86.4 billion. - FY2025-H1AdvancedAnnual report
「Non-current assets increased by ¥5,714 million from the end of the prior consolidated fiscal year to ¥51,694 million, mainly because investments in the portfolio increased by ¥720 million and investments in subsidiaries measured at fair value increased by ¥4,905 million.」
Investments in the portfolio and subsidiaries measured at fair value increased, with investment balances rising from ¥42,730 million at the prior year-end to ¥48,357 million. - FY2024AdvancedAnnual report
「By increasing the value of its holdings, the Group aims to increase AUM over the medium to long term and thereby sustain a rising revenue growth rate, maximize carried interest received when investment gains are realized, and continuously grow the fair value of principal investments.」
The metrics were mixed: AUM declined from ¥218.5 billion to ¥199.9 billion and fee-earning AUM from ¥183.5 billion to ¥167.9 billion, while principal-investment fair value rose from ¥32.7 billion to ¥38.1 billion and fund-investment fair value from ¥224.4 billion to ¥287.8 billion. - FY2024-H1AdvancedAnnual report
「Non-current assets increased by ¥6,440 million from the end of the prior consolidated fiscal year to ¥43,506 million, mainly because investments in the portfolio increased by ¥1,651 million, investments in subsidiaries measured at fair value increased by ¥2,630 million and loans increased by ¥2,258 million.」
Investments and investments in subsidiaries measured at fair value increased, with investment balances rising from ¥36,404 million to ¥40,687 million and quantitative progress in principal-investment fair value and related measures. - FY2023First statedAnnual report
「The Group aims to increase AUM over the medium to long term and thereby sustain a rising revenue growth rate, maximize carried interest received when investment gains are realized, and continuously grow the fair value of principal investments.」
AUM growth, a higher revenue growth rate, maximization of carried interest and growth in principal-investment fair value are key management indicators. AUM was ¥218.5 billion in 2023 and principal-investment fair value was ¥32.7 billion.