Integrity

Message

1980 1981 1986 1995 2003 2005 2007 2010 2012 2013 2015

•Set up Koyo Corporation

• Started Nasu Solar Power Plant

• Established Koyo Astro Co., Ltd.

• Entered the solar power generation system

sales business

— Koyo Business Services, Inc.

• Entered the LED light sales business—

Koyo Business Services, Inc.

• Entered the residential mortgage-backed loan

business • Established Koyo Finance C

o., Ltd.

• Set up Koyo Holdings Group

• Entered emergency supplies sales business

— Koyo Business Services, Inc.

• Entered securities business —

Acquired Maruki Securities C

o., Ltd. (current Invast Securities)

• Entered the real estate industry • Established Koyo Real Estate C

o., Ltd.

• Entered derivatives business• Acquired Sanko Shoji, Inc. (the current Koyo Securities C

o., Ltd.)

• Started the Koyo Group aim

ing to build a financial trading com

pany

Koyo Group celebrated the 30th anniversary on October 13, 2010 and entered into the “second

foundation age.” Therefore, we determined to go back to the “spirit of the foundation” and the “origin

of foundation” and humbly take a new step forward.

The Koyo Group focuses on the “integrity” as our most important philosophies and strives for

realizing it. That means we aim at thinking of benefits of customers only and becoming essential

to the society. We could overcome many difficulties we faced because customers supported the

Koyo Group. We are proud that this is an evidence of our efforts never to forget sincerity, humility,

kindness, and politeness to customers and focus on harmony with them.

Japan is now facing many difficulties. The Koyo Group will make concerted efforts to contribute to

customers and the society with integrity, the origin of foundation.

Integrity

We, the Koyo Group, have been moving forward with three management philosophies since the foundation:

the “customer first policy” to pursue only customers’ ben-efits, “sociality-oriented” to give higher priority to social contributions in works, and “top-oriented” to be the top in the field if we do it at all.

It was in 1980 that the Koyo Group was born. Already, 30 years have passed since then, and the Koyo Group enters into the “second foundation” age. We started business at the commodity futures trading but were sure that the age would come when financial barriers such as commodity futures, securities, banks, life insurances, etc. would be removed. Under a grand vision of building a “financial trading com-pany,” we have been developing our business.

We have developed into our corporation group, consisting of Koyo Securities, Koyo Real Estate, Koyo Finance, and Invast Securities, deal with real estate, securities, finance, Internet transactions of commodity/exchange/stock index, etc. with commodity futures trading as our core business, and receive patronage of many customers.

During the time symbolized by the phrase the “lost 20 years.” Japan was on the brink of total collapse in every aspect of politics, economy and society. Worse still, the fail-ure of Lehman Brothers, the extremely strong yen, and the Great East Japan Earthquake brought Japan to the unprece-dented “national crisis.”

Above all, the nuclear disaster triggered by the earthquake on March 11, 2011 had a decisive influence on the global environment and energy problems. We expected the ep-och-making “energy revolution” and the “third industrial revolution” would break out before long. It was the time when we had to confront the financial crisis and energy/global environment issues. Under the circumstance, signifi-cant momentum was generated for the Koyo Group to enter new businesses.

Learn History To Create the Future

Koichi Kawaji

Now that ecology is regarded as important, and the improvement of global environments and the solu-tion of the energy problem are urgent issues, the Koyo Group has entered the LED light business. Koyo Corporation of the group played a central role. This created a new vision of the Koyo Group to make the new ecology business a core business as well as our conventional vision of building a “financial trading company.”

The LED light brand “PICASONA” sold by Koyo Corporation earns high evaluation as a product with the world’s highest level of quality and has been widely introduced in airports, stations, government of-fices, large companies, hospitals and others as energy-saving measures.

In addition, the Koyo Group established Koyo Astro Co., Ltd. jointly with the Chint Group of China, which develops the solar power business all over the world, and entered the solar power generation busi-ness. A 1.3-MW solar power plant built in Nasu, Tochigi Prefecture started operation in 2013. We will roll out the solar power generation business all over Japan and will devote ourselves to introducing the solar power generation for the enterprise as well as building large-scale solar power plants.

The Koyo Group spends days and nights in the effort to build an attractive corporation group with both functions of “integrated financial services” and a “trading company.” Our field of activity is greatly ex-panded from Japan to Asia and the world.

We will strive to realize a hopeful future while always returning to the origin of foundation, etching our “business philosophies” in our heart, and sophisticating them.

Contribution to the World By Integrated Financial Services and Trading Company Business

Koichi KawajiRepresentative of the Koyo Group

Koyo’s Corporate Vision

Light of Hope in the Era of Reform.

Koyo Group is a comprehensive business group composing of five companies: Koyo Corporation,

which sells emergency supplies and sanitary goods by wholesale and develops “PICASONA,” an

original bland of LED light; “Koyo Securities Co., Ltd.,” which expands financial instruments and

exchange business; “Koyo Real Estate Co.,Ltd.,” which expands the real estate business, “Koyo

Finance Co., Ltd.,” which expands the residential mortgage-backed loans for enterprise; “Koyo

Holdings Inc.,” which generally manages the above-mentioned four companies. In addition, the

associate company is “Invast Securities Co., Ltd.,” listed Internet-only security company.

Since the foundation, we have aimed at the integrated financial services to provide comprehensive

financial services with an eye toward the age when barriers in the financial industry are removed. To

realize the aim and ensure the previously mentioned business philosophies should be performed, we

set six keywords: “transparency,” “fairness,” “information,” “various services,” “prompt strategic

decisions” in management, and “compliance.” We reorganized the old Koyo Group and launched the

Koyo Holdings Group on April 1, 2005.

With the aim of creating “eco-cities originating in Japan” all over the world and started the LED light

“PICASONA” to promote energy-saving and eco-friendly life and entered the solar power generating

business. In addition, to achieve the exposure and secure footholds in “Asia,” the center of the world,

in this century, we are making business partners and making equity participations, using East and

Southeast Asia as a stepping stone.

Ecology Business

Integrated Financial Services

Trading Company Business

To Asia, the Center of the World

Active Capability to Work

Koyo Holdings Inc.

http://www.koyo-holdings.co.jp/

Head Office: 1-5-6, Higashi Nihonbashi, Chuo-ku, Tokyo Capital: JPY 3.8 billion (Group’s total capital: about JPY 5.186 billion) (as of the end of March 2014)Representative: Koichi Kawaji, Representative Chairman and CEO Hisahiro Murakami, President and COO Major Business: Management of operating companies as a holding company Established: February 9, 2001

Business Areas of the Koyo Group

LED

Disaster Control

Measures against Novel Influenza

Solar Power Generation

Securities/Finance

[LED/Disaster Control/Measures against Novel Influenza]World’ highest level of quality and services.We provide energy saving measures to create a better future with consideration of environment and support corporate management. We support measures against disasters and novel influenza to support the management of corporation.

➔ Koyo Corporation

[Solar Power Generation]We support the “solar power generation system,” which uses the clean energy of solar light and is now wanted and inexhaustible through our consistent system from product development to design/construction and maintenance. In addition, by using clean energy, we can contribute to energy saving and environment protection.

➔ Koyo Corporation➔ Koyo Astro Co., Ltd.

[Securities/Finance]Customer first policy = Industry leading performanceWe use the experiences accumulated so far to provide the exchange equity index margin trading “Kurikku365” and the stock index margin trading “Kabu365.”In addition, the associate company Invast Securities has the largest custody for “Kurikku365” (in brokers trading the instrument as of the end of March 2012). Our cutting edge system and high volume of financial instruments receive quite many supports in the market and are always developing to meet requirements from customers. Moreover, we are ready to offer business loans to satisfy needs of companies in a new era.

➔ Koyo Securities Co., Ltd.,➔ Koyo Finance Co., Ltd.➔ Invast Securities Co., Ltd. -Associate company

[Real Estate] We respond to a wide range of necessities in the real estate business from the sales of houses providing value-added urban houses on fair prices to the mediating business, office building management, rental management of apartment, and renovation of used apartments. We continue to make efforts to create and develop businesses from the point of view of customers.

➔ Koyo Real Estate Co.,Ltd.

Fujiclair Wine Okumura Corporation

Low-voltage solar power generation

owner system

Create Future and Support Business “Surprisingly strong if necessary”Koyo Corporation is a global company supporting the present and the future of customers and aiming at realizing a better global environment.

LED Light <PICASONA>PICASONA is the world highest level of LED light, which has been introduced in many places.

Solar Power GenerationKoyo Corporation is a solar power generation manufacturer with many experiences of in-stallation in Japan.

Disaster/Infectious Disease Management Offers consistent supports for measures required at the time of disaster from planning/introducing to maintaining them.

Business of Koyo Corporation

<Overseas>Shanghai Office North America Office

<In Japan>Head Office (Tokyo)Nagoya Branch Osaka Branch Kagoshima Branch

Anshin Survival Series N95 Protection Mask SH3500Okerundesu-100 Clefeel

Straight tube LED Downlight type LED Bridge type LED High luminance type LED

Offices

Koyo Corporation

http://www.koyobs.co.jp/

Capital: JPY 200 million (as of the end of March 2014)Representative: Chairman and CEO Norio Shoji President and COO Keiji InomataEstablished: February 1, 1996.Business: Planning/manufacturing/sales of measures against disaster/infectious disaster, planning/R&D/ manufacturing/sales of LED light products, R&D/manufacturing/sales of solar power generation

25年太陽電池モジュール

出力保証

11ヶ国50箇所

世界的な信用と実績

研究開発 製造 基本

構想 設計 見積発注

施工検査 運用

15.5%業界トップクラス変換効率

※単結晶型CHSM6610M-255の場合25年

太陽電池モジュール出力保証

11ヶ国50箇所

世界的な信用と実績

研究開発 製造 基本

構想 設計 見積発注

施工検査 運用

15.5%業界トップクラス変換効率

※単結晶型CHSM6610M-255の場合

Capital: JPY 30 million (as of the end of March 2014)Representative: President Hisahiro MurakamiEstablished: June 15, 2012Business: R&D/manufacturing/sales/management of solar power generation

Koyo Astro Co., Ltd.

Solar Light Total SolutionKoyo Astro has many achievements all over the world and provides the solar power generation business consistently from R&D to maintenance.

Installed inventory

Strength of Koyo Astro We have researched and developed and manufactured modules with the industry-leading energy conversion efficiency, provided 25-year output guarantees to allow customers to feel at ease and installed our products at more than 50 points in 11 countries.

One Stop Service of Koyo AstroKoyo Astro is well equipped to offer full support for not only the introduction and the maintenance of solar power generation but also adjustment with an administrative body and a power company and procedures necessary for the start of operation.

1.2MWp <CHSM 5612M>

ROVIGO PROJECT - Italy -

NASU SOLAR PLANT- Japan -

MAXSOLAR ROOFTOP PV PLANT- Germany -

70MW <CHSM 6610M/CHSM 6610P>1.3MW <CHSM 6612P>

Nasu Solar Power Plant Installment examples in the world *Excerpt

http://www.koyo-astro.co.jp/

25 yearsGuarantee the output of

solar battery module

R&D Manufacturing Fundamental plan Design Estimation

ordering Construction

inspection Operation

15.5%Industry-leading energy

conversion efficiency*In case of CHSM6610M-255 (single crystal type)

50 pointsin 11 countries

Global reliance and achievements

http://www.koyo-sec.co.jp/

“You can talk to and rely on us.” Face-to-FaceFrom financial instruments to commodity, and from derivative to cash and financial assets. We will focus on the balance between risks and economic opportunities and propose timely products.

Koyo Securities Co., Ltd.

Capital: JPY 1 billion (as of the end of March 2014)Representative: President Teruhiko KanegaeEstablished: February 14, 1963.Business: Financial instruments firm: Chief of the Kanto Local Financial Bureau (Kin-sho) No.1588 Commodity Derivatives Business Operator: the Ministry of Economy, Trade and Industry Heisei 22.12.13 SHO No. 19 and Ministry of Agriculture, Forestry and Fisheries Ordinance 22 SOGO No.1337Membership: Japan Securities Dealers Association, Financial Futures Association of Japan, and Commodity Futures Association of Japan

Pure gold reservePure gold and bullion

Commodity futures trading

[Kurikku365]Exchange FX trading [Kurikku Kabu 365]

Exchange stock index margin trading Foreign bonds

Commodity

Financial derivatives

Financial instruments

Cash/financial assets

As diversification investment

Center of investment instruments

As risk-free asset Make full use of investment efficiency

Exchange FX

Exchange stock index margin trading

http://www.invast.jp/

Listed Internet-only Security CompanyInvast Securities is an online security company listed on JASDAQ aiming at producing “surprise and impression” through providing sincere services.

Invast Securities Co., Ltd. Associate Company

Capital: JPY 5,965.08 million (as of the end of March 2014)Representative: President Takeshi KawajiEstablished: August 10, 1960Business: Financial instruments firm: Chief of the Kanto Local Finance Bureau (Kin-sho) No. 26 on September 30, 2007Membership: Japan Securities Dealers Association, Financial Futures Association of Japan, and Commodity Futures Association of Japan

[Kurikku365]

[Kurikku Kabu 365]

[Shisutore24]

http://www.koyo-r.co.jp/

Koyo Real Estate Co., Ltd.

Realize Spaces Required by Customers Required spaces. “DEVELOPMENT & DESIGN”Koyo Real Estate will provide comfortable living environments corresponding to your variety of life styles through the real estate business,

Hope and Power Required for the New Age Koyo Finance will provide services with the core business of project finance for real estate companies.

Koyo Finance Co., Ltd.

Project Finance

Real estate company

Real estate company

Real estate company

Real estate company

Capital: JPY 66 million (as of the end of March 2014)Representative: President Mikio TakadaEstablished: July 1986Business: Sales of detached houses and recreated real estate, mediating, rental building, real estate management business, etc.

Capital: JPY 90 million (as of the end of March 2014)Representative: President Shinichi KanezakiEstablished: October 2007Business: Project Finance for real estate companies

By introducing 1.3MW system,

about 417t of CO2 is reduced and

JPY 53 million of electricity is generated.

Nasu Solar Power Plant managed by Koyo Astro Co., Ltd., a company of the Koyo Group, started its operation.

Started Koyo’s Solar Power Plants

Item Numerical Value for the Standard Type (Unit) Remarks

Solar battery 1,319.50kw

Solar module standard 290W Polycrystalline

No. of solar modules used 4,550Sheets

Installation area 7,472m2

Expected output 1,326,373kwh/year

Conversion into electric power rates JPY 53,054,910 /year JPY40/kwh

Environmental effects (CO2 reduction) 417.14 t/year 0.3145kg-CO2/kwh

Conversion into crude oil 301,087L/year 0.227L/kwh

Conversion into traveling distance of vehicle 2,195,496km 0.19kg/km

Household demand 241 households Normal household use: 5,500 kwh/year

Conversion into forest area which is capable of absorbing carbon dioxide 473,705m2 0.8806kg/m2

Koyo Holdings Inc.1-5-6, Higashi Nihonbashi, Chuo-ku, Tokyo