**Summary of Baillie Gifford Japan Trust PLC Final Results**
**Performance Highlights**
**Net Asset Value (NAV) Total Return** 20.5% for the year ending August 31, 2025, outperforming the TOPIX indexs 12.1% return (in sterling terms).
**Share Price Total Return** 20.9% for the same period.
**Long-Term Performance** Over five years, NAV total return was 27.0%, and over ten years, it was 152.2%, compared to TOPIX returns of 53.4% and 137.2%, respectively.
**Key Contributions to Performance**
**SoftBank Group** Contributed +3.8ppt, driven by profitability in AI, semiconductors, and growth technology.
**SBI Holdings** Added +2.7ppt, with strong performance in online financial broking and banking.
**Portfolio Adjustments**
**New Investments** Four new investments were made: Money Forward, Sega Sammy, Shimano, and Square Enix.
**Sales** Six positions were sold, and gearing was reduced to 13% from 18% in 2024.
**Shareholder Returns**
**Dividend** A final dividend of 10p per ordinary share was proposed, consistent with the previous year.
**Share Buybacks** 11.5% of issued share capital was bought back for £75.2 million, increasing NAV by 1.5%.
**Strategic Focus**
**Long-Term Growth** The trust focuses on medium to smaller-sized Japanese companies with <mark style="background-color:yellow">above</mark>-average growth prospects.
**Portfolio Positioning** Investments are aligned with long-term secular growth themes, offering potential for outperformance.
**Financial Position**
**Total Assets** £904.0 million (before deduction of borrowings of £115.9 million) as of August 31, 2025.
**Borrowings** Secured a ¥15 billion revolving credit facility to replace an expiring term loan, maintaining competitive rates.
**Management and Governance**
**Management** Baillie Gifford, with £212 billion under management as of October 16, 2025.
**Board Changes** David Kidd stepped down as Chairman, succeeded by Sam Davis. Plans to recruit a new director are underway.
**Outlook**
**Market Opportunity** The Japanese equity market offers significant opportunities for long-term growth investing.
**Strategy** The trusts focus on innovative, growth-oriented businesses positions it well for superior returns.
**Disclaimer**
Past performance is not indicative of future results. Investments carry risks, and values can fluctuate.
This summary encapsulates the key financial and strategic highlights from the Baillie Gifford Japan Trust PLCs final results for the year ending August 31, 2025.