Wedge Holdings Co., Ltd.

September 2014

Business Presentation

4th September 2014

www.wedge-hd.com

1

Contents

22

Part 1 Third Quarter Financial Results

-Consolidated Operating Results(P/L)

-Consolidated Financial Condition(B/S)

-Segment Results

Part 2 Finance Business

◆Thailand

・ Situation in Thailand

・ Group Lease Revenue, Group Lease Operating Profits

・ Thai Motorcycle Lease Market Share

・ THITIKORN Revenue, THITIKORN Operating Profits

・ Operating Profit Ratio Comparison

・ Situation in Thailand

・ Summery （Market）・ Consumer confidence index (CCI)

・ Thai business sentiment index

・ Thai Domestic Motorcycle Sales

・ Market (Current)

・ Thai Motorcycle Lease Market Share 2012 vs 2014

・ Thanaban Operating Profits

・ Thanaban Net Income

・ Issues of Thanaban

・ GL + Thanaban Business Loan

・ GL + Thanaban Sales

・ GL + Thanaban Operating Profits

33

・ Implementation of Business Restructuring

・ Finance Business (GL, Thailand)

・ Motor 4 Cash

・ Interest Rate

・Thai Domestic Finance Business Outlook

◆Cambodia

・Cumulative Total of New Contracts (HONDA)

・New Contracts (KUBOTA)

・GL Finance PLC High-quality portfolio

Part 3 Entertainment Business

・Organizational Structure of Wedge Holdings CO., LTD.

・Characteristics of Card Game Business

・Achievements in TCG Business

Overall Review

4

Third QuarterFinancial Results

Consolidated Operating Results(P/L)

5

(Units: 1000 yen)

Q3

Sept 2013 Period YOY

Sales 3,533,668 4,152,637 117.5%

Operating Profits 735,653 317,981 43.2%

Recurrent Profits 821,059 389,463 47.4%

Net Profits 614,367 79,131 12.9%

Q3

Sept 2014 Period

Consolidated Financial Condition(B/S)

6

(Units: 1000 yen)

Consolidated Balance

SheetQ3 Sept 30, 2013 Period Q3 Sept 2014 Period YoY

Current assets 15,330,482 17,423,425 113.7%

Fixed asset 3,865,298 3,730,214 96.5%

Investments and other

assets (inclusive)2,750,090 2,597,619 94.5%

Total assets 19,195,780 21,153,639 110.2%

Current liabilities 5,379,742 6,351,928 118.1%

Fixed liabilities 4,078,836 4,463,108 109.4%

Total liabilities 9,458,578 10,815,037 114.3%

Total shareholders' equity 5,259,714 5,338,845 101.5%

Total net assets 9,737,202 10,338,602 106.2%

Current ratio 285.0% 274.3%

Fixed ratio 73.5% 69.9%

Shareholders' equity ratio 27.4% 25.2%

D / E Ratio 170.4% 190.6%

7

Segment Results

(Unit: 1000 yen)

Merchandising business has been transferred in last consolidated fiscal year and

therefore is excluded from consolidation.

Segment Q3 Sep 2013

PeriodQ3 Sep 2014

Period YOY

Sales 2,907,625 3,668,129 126.16%

Segment Profits 870,018 461,402 53.03%

Sales 447,510 483,543 108.05%

Segment Profits 77,083 132,191 171.49%

Finance Business

Entertainment

Business

88

Finance Business

Thailand

9

Situation in Thailand

Sep to NovDeluge

2012 20132011

Repayment from customers

October 30th June September

22th JuneAugust

＝＝

Political turmoil

2014

Expectation for repayment from customers

Massive increase of allowance for doubtful accounts

Reversal of allowance for doubtful accounts

Economic ReconstructionDemand after deluge

Economic-stimulus measure by Thai Government

End of economicreconstruction demand and economic-stimulus measure

Global economic deceleration

Submission of amnesty bill

Start of political instability

Beginning of company’s consolidated fiscal period

Increase of allowance for doubtful accounts

Acquisition of Thanaban

Slowdown in incremental allowance for doubtful accounts

End of 3Q of company’s fiscal period

2014 first quarter GDP negative growth

Military Coup

End of political instability • Increase in motorcycle

sales• Growth in consumer

confidence index• Government expenditure

recommencement

11

Group Lease Revenue

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

450,000

2012Q1 2012Q2 2012Q3 2012Q4 2013Q1 2013Q2 2013Q3 2013Q4 2014Q1 2014Q2

Revenue of Group Lease by Quarter

Political InstabilityEconomic Slowdown

12

Operating Profits of Group Lease

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

2012Q1 2012Q2 2012Q3 2012Q4 2013Q1 2013Q2 2013Q3 2013Q4 2014Q1 2014Q2

Operating Profits of Group Lease by Quarter

Political InstabilityEconomic Slowdown

13

Thai Motorcycle Lease Market

Thitikorn, 12.1%

GE, 9.5%

Highway, 3.9%

S-Cal, 3.3%

Thanaban, 2.2%

S11, 2.0%T Leasing, 2.6%

地元ファイナンス,

1.7%

GL 6.5%

13

Local finance, 1.7%

Dealer finance, 56.2%

2012 Market Share

14

THITIKORN Revenue

0

200,000

400,000

600,000

800,000

1,000,000

1,200,000

1,400,000

2012Q1 2012Q2 2012Q3 2012Q4 2013Q1 2013Q2 2013Q3 2013Q4 2014Q1 2014Q2

Revenue of THITIKORN by Quarter

Political InstabilityEconomic Slowdown

15

Operating Profits of THITIKORN

(50,000)

0

50,000

100,000

150,000

200,000

250,000

2012Q1 2012Q2 2012Q3 2012Q4 2013Q1 2013Q2 2013Q3 2013Q4 2014Q1 2014Q2

Operating Profit of THITIKORN by Quarter

Political InstabilityEconomic Slowdown

16

Operating Profit Ratio Comparison

-10.00%

0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

60.00%

2012Q1 2012Q2 2012Q3 2012Q4 2013Q1 2013Q2 2013Q3 2013Q4 2014Q1 2014Q2

THITIKORN

Group Lease

Political InstabilityEconomic Slowdown

Summary （Market）

Finance business sector saw a decline in

profit due to the sharp slowdown in Thai

economy at the beginning of 2013

Political turmoil has taken a toll on Thai

economy.

17

18

Consumer confidence index (CCI)

60

65

70

75

80

85

90

1月 3月 5月 7月 9月 11月 1月 3月 5月 7月 9月 11月 1月 3月 5月 7月 9月 11月 1月 3月 5月 7月

2011 2012 2013 2014

Consumer confidence index (CCI)

消費者信頼指数Source: University of the Thai Chamber of Commerce

Political

instabilityEconomic

Slowdown

Jan Mar May Jul Sep Nov

2011

Jan Mar May Jul Sep Nov

2012 Jan Mar May Jul Sep Nov

2013

Jan Mar May Jul

2014

Consumer confidence index

19

Thai Industries sentiment index

80

85

90

95

100

105

110

115

Jan

.

Feb

.

Mar

.

Ap

r.

May

Jun

e

July

Au

g.

Sep

.

Oct

.

No

v.

Dec

.

Jan

.

Feb

.

Mar

.

Ap

r.

May

Jun

e

July

Au

g.

Sep

.

Oct

.

No

v.

Dec

.

Jan

.

Feb

.

Mar

.

Ap

r.

May

Jun

e

July

Au

g.

Sep

.

Oct

.

No

v.

Dec

.

Jan

.

Feb

.

Mar

.

Ap

r.

May

Jun

e

July

2011 2012 2013 2014

Thai Industries sentiment index

TISI

Source: Federation of Thai Industries (FTI)

Political

Instability

Economic

Slowdown

120000

130000

140000

150000

160000

170000

180000

190000

200000

９月

１０月

１１月

１２月

１月

２月

３月

４月

５月

６月

７月

８月

９月

１０月

１１月

１２月

１月

２月

３月

４月

５月

６月

７月

2012 2013 2014

Thai Domestic Motorcycle Sales

20

Thai Domestic Motorcycle Sales

Source: The Dairy NNA Thai version

Political Instability

Economic Slowdown

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2013

Sep Oct Nov Dec

2012

Jan Feb Mar Apr May Jun Jul

2014

Monthly average sales

Market (Current)

Rapid improvement in grassroots economy

for our customers

21

Unpaid rice pledging scheme to be paid by

Junta

Due to recovery of the manufacturing industry,

factory workers resumed work overtime again.

22

Thai Motorcycle Lease Market

Dealer finance, 56.2%

Thitikorn, 12.1%

GE, 9.5%

GL, 6.5%

Highway, 3.9%

S-Cal, 3.3%

Thanaban, 2.2%

S11, 2.0%

T Leasing, 2.6%

Local finance, 1.7%

Dealer finance, 56.2%

Thitikorn, 12.1%

GE, 9.5%

GL+Thanaban, 8.7%

Highway, 3.9%

S-Cal, 3.3% S11, 2.0%

T Leasing, 2.6%Local finance,

1.7%

22

2012 Market Share 2014(estimated) Market Share

Thanaban Operating Profits

23

0

10,000,000

20,000,000

30,000,000

40,000,000

50,000,000

60,000,000

70,000,000

80,000,000

90,000,000

2009 2010 2011 2012 2013

Thanaban Operating Profits

Thanaban Net Income

24

0

10,000,000

20,000,000

30,000,000

40,000,000

50,000,000

60,000,000

2009 2010 2011 2012 2013

Thanaban Net Income

Issues at Thanaban

1. Operating costs include overhead expenses

and personnel expenses for dispatched staff

due to parent bank will be GL’s profit when it

will be consolidated.

2. Operations in branches and sales offices

were not efficient.

3. The company was suffered severely from

Thai political and economy’s impact

25

If Thanaban is consolidated …

26

27

Account Receivable

(Unit: 1000 baht)

0

2,000,000

4,000,000

6,000,000

8,000,000

10,000,000

営業貸付金

GL + Thanaban

GL Thanaban

0

2,000,000

4,000,000

6,000,000

8,000,000

10,000,000

営業貸付金

GL

GL

Account receivable Account receivable

28

Sales

0

500,000

1,000,000

1,500,000

2,000,000

2,500,000

売上高

GL + Thanaban

GL Thanaban

0

500,000

1,000,000

1,500,000

2,000,000

2,500,000

売上高

GL

GL

(Unit: 1000 baht)

Sales Sales

29

Operating Profits

0

100,000

200,000

300,000

400,000

500,000

営業利益

GL

GL

0

100,000

200,000

300,000

400,000

500,000

営業利益

Thanaban + GL

GL Thanaban

＋？

(Unit: 1000 baht)

Operating Profits Operating Profits

Implementation of Business Restructuring

Operation Cost reduction by minimizing

overhead expenses

• Consolidating expenses such as payment to

the parent company

• Improving efficiency by reorganization of

sales office

• Favorable turn in Thai economy

30

31

Finance Business (GL, Thailand)

GL only

GL and Thanaban

Thanaban only

POS coverage

map

Motor 4 Cash

Lease Finance

Motor 4 Cash

Amount of interest

Amount of principle

Loan balance

Expiration of Lease Period

32

Interest Rate

Motorcycle Loan

33

Thai Domestic Finance Business Outlook

Sign of upturn in Thai economics in the

second half of 2014

Consolidating Thanaban

New business = Launch M4C product

34

35

Cambodia

Cumulative Total of New Contracts (HONDA)

0

1000

2000

3000

4000

5000

6000

7000

8000

9000

10000

Cumulative Total of GLF New Contracts

36

New Contracts (KUBOTA)

0

5

10

15

20

25

30

35

Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14

New Contratcs

37

38

GL Finance PLCHigh-quality Portfolio

30+days delinquency accounts

49(0.14%)

30days delinquency accounts

190(0.24%)

Stolen Units

25(all insured)

38

3939

Entertainment Business

Organizational Structure of Wedge Holdings CO., LTD.

Unicon Business Division

Card Game Business Division

Editing and production of entertainment contents, books, magazines, etc.

Spinning Business Division

Production and sales of music and video packages, management of

artists belonging to the company, etc.

TCG development, card game event planning etc.

40

Characteristics of Card Game Business

Services only for limited customers

Promotion and production skills for secondary outputs

Support forexpansion to

the other media

• Limit the number of new transaction to provide high-quality service

• Making separate development division to strength the system for security protection

• Support for promotion expansion in cooperation with the other media including big publishing companies

• Many actual performance of introducing creators such as an original author for related contents development

• Utilizing material used in development to produce promotion materials and related contents effectively and efficiently.

• Many company own systems being completely built, which implement short-tem offer

Know-how in development accumulated

since very beginning of the TCG

41

Achievements in TCG Business

Source: Game Sangyo Hakusho 2012 (Media Create)

Continuing the largest sales among the development

companies in Japan

36%

20.53%

9.66%

7.36%

5.75%

20.70%

当社

開発会社A

開発会社D

開発会社B

開発会社C

その他

42

TCG Market Share by major development companies (2011)

Wedge Holdings

Development company A

Development company D

Development company B

Development company C

Others

Overall Review

Favorable impacts from the recovery of Thai

economy

Business Consolidation at Thanaban and

execution of new business

Cambodia business continues to grow and

become profitable

Starting and growing new business in Japan

43

44 44

Contact details for IR-related inquiries

Wedge Holdings CO., LTD. Management

Administration Department

TEL: 03-6225-2161 / FAX: 03-3548-0566

wedge-ir@wedge-hd.com

http://www.wedge-hd.com

* Materials stated include statements concerning the future, but these statements are guaranteed

future results. Furthermore, contents of these materials has not been audited and neither its accuracy

nor certainty is guaranteed.

Thank you!