Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

This announcement is for information purpose only and does not constitute an invitation or offer acquire, purchase, or subscribe for securities in any jurisdiction.

SBI HOLDINGS, INC. (Incorporated in Japan with limited liability) (Stock code: 6488)

THE PROPOSED SPIN-OFF AND SEPARATE LISTING OF AXES HOLDINGS, Co., Ltd. ON THE KOSDAQ MARKET OF THE KOREA EXCHANGE

The Board of SBI Holdings, Inc. (the "Company") refers to the Proposed Spin-off and previous announcement made on 2 February 2012.
On 1 February 2012, AXES Holdings, Co., Ltd.(the "AXES Holdings") submitted a Listing Application to the Korea Exchange. On 27 June 2012, the listing of AXES Holdings is approved by the Korea Exchange.
The exact structure and detail of the Public Offering in Korea have not yet been finalized as the particulars of which are yet to be decided and finalized by the directors of AXES Holdings in consultation with the underwriter.
Shareholders of the Company and public investors should note that there is no assurance as to whether or when the Proposed Spin-off will proceed, or whether it will be completed successfully. As the Proposed Spin-off may or may not proceed, shareholders of the Company and public investors are advised to exercise caution when dealing in the securities of the Company.
Further announcements will be made by the Company as and when appropriate in compliance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
On behalf of the Board
SBI Holdings, Inc.
Yoshitaka Kitao

Chief Executive Officer

Japan, 27 June 2012

As of the date of this announcement, the executive Directors are Mr Yoshitaka Kitao, Mr Taro Izuchi, Mr Takashi Nakagawa, Mr Kenji Hirai, Mr Tomoya Asakura, Mr Takashi Okita, Mr Noriaki Maruyama, Mr Shumpei Morita, Mr Shinji Yamauchi, Mr Makoto Miyazaki, Mr Yoshimi Takahashi, and Mr Masaki Takayanagi, the non-executive Directors are Mr Yasutaro Sawada, Mr Hiroyoshi Kido, Mr Noriyoshi Kimura and Mr Hiroshi Tasaka and the independent non-executive Directors are Mr Masaki Yoshida, Mr Kiyoshi Nagano, Mr Keiji Watanabe, Mr Takeshi Natsuno and Mr Akihiro Tamaki.

distributed by