Securities Report (Domestic Investment Trust Beneficiary Certificates) - First Period (2026/01/19 - 2026/03/20)

Asset Management One Co., Ltd. Securities Report (Domestic Investment Trust Beneficiary Certificates) - First Period (2026/01/19 - 2026/03/20)

This report is the first securities report issued by Asset Management One Co., Ltd. regarding the domestic investment trust beneficiary certificates it manages. Prepared for the first period from January 19, 2026, to March 20, 2026, it is disclosed to investors in accordance with the Financial Instruments and Exchange Act.

The investment trust primarily invests in domestic bonds and equities, aiming for stable asset growth. Below are the disclosures on net asset value trends, investment performance, portfolio composition, fee structure, and risk factors during this reporting period.

[Net Asset Value]
The net asset value at the end of the reporting period (March 20, 2026) was JPY 12.834 billion, representing an increase of approximately 28.3% from the initial JPY 10 billion at inception (January 19, 2026).

[Investment Performance]
The net asset value per unit rose from the initial offering price of JPY 10,000 to JPY 10,642 as of March 20, 2026, achieving a pre-tax return of +6.42% for the period. This performance is evaluated as solid within the intended risk tolerance range.

[Portfolio Composition]
The asset allocation at the end of the reporting period was as follows:
- Domestic Equities: 42.3%
- Domestic Bonds: 53.1%
- Cash and Cash Equivalents: 4.6%

Domestic bonds are primarily composed of government bonds and high-credit-rated corporate bonds to mitigate credit risk. Domestic equities focus on high-quality stocks in infrastructure and consumer-related sectors.

[Trust Fees]
The annual trust fee rate is 1.20% (including tax) of the net asset value. The breakdown is as follows: asset manager fee 0.80%, trust bank fee 0.30%, and distributor fee 0.10%.

[Risk Factors]
Key risks to be monitored in future operations include:
- Interest rate fluctuation risk due to changes in monetary policy
- Increased stock market volatility risk
- Credit risk from unexpectedly weak economic indicators
- Foreign exchange risk from foreign currency-denominated assets (limited exposure)

The company will address these risks through appropriate hedging strategies and rebalancing plans.

[Outlook]
From April 2026 onward, the company will continue its long-term asset growth-oriented investment strategy while implementing flexible portfolio adjustments in response to changing market conditions. The next report is scheduled for submission in late June 2026.

For inquiries regarding this report, please contact the Customer Support Center of Asset Management One Co., Ltd.