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I represent a pension, endowment, sovereign fund, or other institution evaluating NEXROC mandates.
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Financial information, capital structure, illustrative financial models and disclosures.
| NO. | SECTION / DOCUMENT | DESCRIPTION | LINK |
|---|---|---|---|
| 01 | CAPITAL FORMATION | Financial schedule / information | VIEW |
| 02 | FIVE-YEAR TARGETS | Financial schedule / information | VIEW |
| 03 | FINANCIAL PRO FORMA | Financial schedule / information | VIEW |
| 04 | REVENUE CHANNELS | Financial schedule / information | VIEW |
| 05 | DEBT WATERFALL | Financial schedule / information | VIEW |
| 06 | FINANCING FACILITIES | Financial schedule / information | VIEW |
| 07 | GROUP STRUCTURE | Financial schedule / information | VIEW |
| 08 | PORTFOLIO ANALYSIS | Financial schedule / information | VIEW |
| 09 | DEBT & FUNDS | Financial schedule / information | VIEW |
| 10 | REPORTS | Financial schedule / information | VIEW |
| 11 | PROJECTIONS | Financial schedule / information | VIEW |
| 12 | FINANCING | Financial document page | VIEW |
| 13 | BALANCE SHEET | Financial document page | VIEW |
| 14 | CASH FLOW | Financial document page | VIEW |
| 15 | TAXES | Financial document page | VIEW |
| 16 | OPERATIONS | Financial document page | VIEW |
| 17 | COMPENSATION | Financial document page | VIEW |
| AMOUNT | FACILITY / SOURCE | RATE / RETURN | CAPITAL TYPE |
|---|---|---|---|
| $5M | CORPORATE LINE OF CREDIT Senior secured term loan / revolver / Subordinated PIK notes | 7–10% | DEBT |
| $15M | GP FINANCING | 8–12% | DEBT |
| $5M | ANCHOR INVESTOR CAPITAL ROUND 1 | 18% | DEBT AND/OR EQUITY |
| $45M | ANCHOR INVESTOR CAPITAL ROUND 2 | 15% | DEBT AND/OR EQUITY |
| $250M | SUBSCRIPTION LINE | 5.5–6.5% | DEBT |
| $100M | LOMBARD LOAN | 5.5–6.5% | DEBT |
| $100M | ASSET BACKED FINANCING | 6–9% | DEBT |
| $250M | SECURITIES FACILITY | 5–7.5% | DEBT |
| $800M | PRIME FACILITY | 4.5–7% | DEBT |
| AMOUNT | FACILITY / SOURCE | RATE / RETURN | CAPITAL TYPE |
|---|---|---|---|
| $250 | PRIVATE CREDIT SPONSOR | 8–12% | DEBT AND/OR EQUITY |
| $250M | PRIVATE EQUITY SPONSOR | 15–25% | DEBT AND/OR EQUITY |
| AMOUNT | FACILITY / SOURCE | RATE / RETURN | CAPITAL TYPE |
|---|---|---|---|
| $200M | SENIOR CREDIT | 7–9% | DEBT |
| $100M | SUBORDINATED CREDIT | 11–14% | DEBT |
| $100M | MEZANNINE DEBT | 12–16% | DEBT |
| $200M | LP COMMITMENT | 0–15% | DEBT AND/OR EQUITY |
| $1.4B | SYNDICATED BANK LOAN OR HOLDCO PIK | 7–9% | 12–16% | DEBT |
Proposed, illustrative financing framework based on information supplied by the site owner. Amounts, rates and capital types are indicative, not confirmations of financing commitments, borrowing availability, funds raised or guaranteed investment returns.
| NO. | MEASURE | ILLUSTRATIVE OBJECTIVE |
|---|---|---|
| 01 | Insurance AUM | $25B |
| 02 | Liquid AUM | $50B |
| 03 | Revenue | $2.5B |
| 04 | IPO Valuation | $5B |
| 05 | Net Profit | $1.5B |
| 06 | EBITDA | $2B |
| 07 | Brands | 15 |
| 08 | Common Equity IRR | 16% |
Forward-looking illustrative objectives only. Not actual results, verified AUM, financing commitments or guaranteed returns.
FY2026–FY2027 · 51% Controlling Acquisitions · Balance-Sheet Yield · Secured Credit Reinvestment · USD Millions
Pro forma only. No acquisition or financing commitment is assumed to have closed. The acquired-company profits are historical benchmarks, translated at scenario FX rates. Dividends, investment coupons and lending returns are assumptions, not committed cash flows. All earnings and balance-sheet totals below are before unmodeled parent-level taxes, withholding, transaction fees and other deal adjustments.
USD millions · Hypothetical opening FY2026 capitalization
| Item | Sources | Uses |
|---|---|---|
| Balance-sheet sponsor equity | 1,000.0 | — |
| Acquisition co-investor equity | 1,600.0 | — |
| Acquisition debt facility (12% interest-only) | 400.0 | — |
| Income-producing sponsor asset portfolio | — | 1,000.0 |
| Four proposed 51% controlling stakes | — | 2,000.0 |
| Total capitalization / investment | 3,000.0 | 3,000.0 |
Illustrative acquisition allocations: JYP $750M; Avex $300M; JAFCO $550M; Regal $400M. These are budget allocations, not supported transaction valuations or agreed prices. The acquisition co-investor equity is a required $1.6B funding assumption.
USD millions · Assumed full-year ownership from January 1, 2026
| Target (51% Owned) | Historical Profit Benchmark | NEXROC 51% Earnings | Assumed Dividends to NEXROC |
|---|---|---|---|
| JYP Entertainment FY2025 · 25% payout | 114.7 | 58.5 | 14.6 |
| Avex Inc. FY March 2026 · 60% payout | 22.2 | 11.3 | 6.8 |
| JAFCO Group FY March 2026 · 35% payout | 41.3 | 21.0 | 7.4 |
| Regal Partners Limited FY2025 · 50% payout | 87.0 | 44.4 | 22.2 |
| Annual base case, each year | 265.2 | 135.2 | 51.0 |
Profit bases before translation: JYP ₩160.562B (2025); Avex ¥3.553B (FY2026); JAFCO approximately ¥6.6B (FY2026); Regal A$130.547M (2025). Model FX only: USD 1 = KRW 1,400, JPY 160, AUD 1.50. Payout percentages are hypothetical and applied to the 51% economic interest; these are not declared dividends. No earnings growth is assumed for FY2027. Profit figures are already after the targets' reported income taxes.
Ownership versus cash: NEXROC's $135.2M economic interest is not $135.2M of available holding-company cash. Only the modeled $51.0M of received dividends is included as parent cash income. Approximately $84.2M is assumed retained inside the underlying businesses and is not double counted as parent cash.
USD millions · Before parent-level income tax and withholding
| Financial Item | FY2026 | FY2027 |
|---|---|---|
| Sponsor portfolio cash coupon (16% on opening principal) | 160.0 | 158.4 |
| Cash dividends from 51% holdings (assumed) | 51.0 | 51.0 |
| Credit-engine interest at 18% | — | 9.0 |
| Sponsor portfolio principal credit losses (1%) | (10.0) | (9.9) |
| Secured lending principal credit losses (2%) | — | (1.0) |
| Payroll and benefits | (25.0) | (26.0) |
| Vendors and service providers | (15.0) | (15.6) |
| Legal, compliance and administration | (8.0) | (8.4) |
| Acquisition debt interest (12% × $400M) | (48.0) | (48.0) |
| Parent-level result before unmodeled taxes | 105.0 | 109.5 |
| Add: subsidiary earnings retained, not distributed | 84.2 | 84.2 |
| Look-through economic earnings before parent taxes* | 189.2 | 193.7 |
*The look-through figure is a non-GAAP economic metric: it replaces dividend income with the 51% attributable share of subsidiary profits. Do not add the $135.2M earnings share on top of the $51.0M dividends. A formal consolidated report would consolidate controlled subsidiaries as applicable, identify non-controlling interests and purchase-accounting adjustments.
USD millions · 18% is contractual gross interest, not risk-free return
| Secured Lending Portfolio | FY2026 | FY2027 |
|---|---|---|
| Opening secured loan principal | — | 50.0 |
| New lending from generated cash, originated at year-end | 50.0 | 50.0 |
| Gross interest received (18% on opening loans) | — | 9.0 |
| Principal losses (2% on opening loans) | — | (1.0) |
| Ending secured loan principal (after charge-offs) | 50.0 | 99.0 |
| Gross credit income less charge-offs | — | 8.0 |
The first $50M is funded from FY2026 cash at December 31, 2026. It earns a full-year 18% cash coupon in FY2027 (gross $9M), with a separate illustrative $1M principal charge-off. A further $50M is reinvested at the end of FY2027 and starts earning in FY2028, avoiding double counting year-end deployments as full-year interest.
USD millions · Before any unmodeled tax or withholding cash outflow
| Cash Flows | FY2026 | FY2027 |
|---|---|---|
| Opening holding-company cash | — | 65.0 |
| Sponsor investment interest received | 160.0 | 158.4 |
| Subsidiary dividend distributions received | 51.0 | 51.0 |
| Secured lending interest received | — | 9.0 |
| Payroll, vendors and administration paid | (48.0) | (50.0) |
| Acquisition debt interest paid | (48.0) | (48.0) |
| Annual cash generated before taxes / withholding | 115.0 | 120.4 |
| New secured loan principal deployed | (50.0) | (50.0) |
| Ending holding-company cash* | 65.0 | 135.4 |
| Of which designated liquidity reserve (included in cash) | 20.0 | 40.0 |
| Remaining unrestricted cash before taxes / withholding | 45.0 | 95.4 |
*Cash reserves are earmarks, not expenses and not additional assets. The 1% and 2% end-of-year credit charge-offs reduce loan principal, not coupon cash already received. Taxes and withholding are not assumed to be zero: they are unquantified deductions still required and would reduce the displayed cash, reinvestment capacity and equity.
USD millions · End of fiscal year, before unmodeled taxes / deal adjustments
| Asset / Capital Category | FY2026 | FY2027 |
|---|---|---|
| Sponsor portfolio remaining principal (after 1% annual losses) | 990.0 | 980.1 |
| Investments in proposed subsidiaries (held at assumed cost) | 2,000.0 | 2,000.0 |
| Secured lending outstanding principal | 50.0 | 99.0 |
| Cash, including designated reserves | 65.0 | 135.4 |
| Total parent-level assets | 3,105.0 | 3,214.5 |
| Acquisition debt outstanding | 400.0 | 400.0 |
| Total liabilities | 400.0 | 400.0 |
| Sponsor + co-investor contributed equity | 2,600.0 | 2,600.0 |
| Cumulative modeled parent earnings before tax | 105.0 | 214.5 |
| Total modeled parent equity before tax | 2,705.0 | 2,814.5 |
| Total liabilities + equity | 3,105.0 | 3,214.5 |
This illustrative parent-company cost-based view recognizes subsidiary cash distributions, but does not book undistributed profits as cash or increase subsidiary carrying values. The cumulative subsidiary retained earnings are shown only in the look-through economic earnings bridge. A consolidation under IFRS 10 or US GAAP would require full subsidiary balance sheets, non-controlling interests, intercompany eliminations and purchase-price allocation.
Coupon and credit risk: The initial $1B portfolio is explicitly modeled as an interest-only asset portfolio paying a 16% contractual gross cash coupon on opening principal, not a 16% total return or a risk-free perpetuity. Assumed 1% annual principal write-offs reduce its face balance from $1,000M to $990M to $980.1M, lowering FY2027 coupon income. If principal amortizes, coupons capitalize, defaults are higher or funding requires reinvestment to sustain par, this schedule must be revised.
Taxes: There is no defensible fixed holding-company effective tax rate from the facts provided. Subsidiary historical net profits already reflect their own tax charges. Parent taxes, income characterization, withholding on upstream dividends, treaty eligibility, local tax credits and financing deductibility require a jurisdiction-by-jurisdiction assessment. No after-tax NEXROC net income is asserted here.
Historical benchmark sources: JYP 2025 annual filing; Avex consolidated FY ended March 31, 2026 summary; JAFCO investor-relations FY ended March 31, 2026 highlights; Regal Partners 2025 annual report. Historical profit figures do not establish FY2026–FY2027 earnings, deal feasibility, 51% ownership, dividend policies or distributable reserves.
| NO. | CATEGORY | DESCRIPTION |
|---|---|---|
| 01 | MANAGEMENT | Management fees from investment vehicles, mandates and long-term capital partnerships |
| 02 | SPREAD | Yield spreads, treasury income, credit margins and structured financing economics |
| 03 | ORIGINATION | Deal sourcing, underwriting, structuring and transaction origination economics |
| 04 | REVENUE SHARE | Recurring participation agreements and shared economics with portfolio companies |
| 05 | SALES | Product, licensing, distribution and operating revenue from owned subsidiaries |
| 06 | ADVISORY | Strategic advisory, capital formation, restructuring and cross-border transactions |
| 07 | LIQUIDATION | Exit monetization through recapitalizations, secondary sales, mergers and listings |
| 08 | PLATFORM VALUE | Enterprise value creation through ownership, scaling and strategic consolidation |
Priority of Claims from Senior Secured Debt to Common Equity
First claim on collateral and underlying assets
Senior ranking obligations without direct collateral package
Hybrid middle-layer capital between senior debt and equity
Junior to debt, senior to common equity, often structured
Residual ownership interest with highest upside and last claim
The NEXROC Group / INSTITUTIONAL CAPITAL PROGRAM / USD
Three separately structured institutional financing facilities encompassing corporate sponsorship, leveraged controlling-interest acquisitions and ring-fenced specialty finance investment vehicles.
PROPOSED / INDICATIVE ONLY. Target amounts do not constitute funded capital, binding commitments or an offer of securities. Final terms remain subject to underwriting, documentation and regulatory approvals.
A hybrid capitalization program combining long-duration institutional preferred equity with committed secured revolving liquidity. The facility is designed to strengthen holding-company capital, support qualifying investment commitments, provide transaction liquidity and establish a permanent institutional financing base for strategic portfolio expansion.
TRANCHE A / SPONSOR EQUITY
$700M
Institutional Preferred Equity
Long-duration sponsor capitalization with negotiated liquidation preference, distribution entitlements, governance protections and optional liquidity or redemption provisions.
TRANCHE B / LIQUIDITY
$300M
Senior Secured Revolving Credit Facility
Committed revolving borrowing capacity secured against an agreed pool of eligible holding-company assets, supporting corporate liquidity and approved investment activity.
A syndicated and privately originated leveraged acquisition financing program supporting majority and controlling-equity acquisitions. Dedicated acquisition borrowers employ senior secured term debt, bridge commitments and operating revolvers, structured against target-company cash flows, enterprise valuations and transaction-specific security.
TRANCHE A / FIRST LIEN
$1.00B–$1.65B
Senior Secured Acquisition Term Loans
Long-term leveraged acquisition debt underwritten against sustainable target earnings, free cash flow and agreed pro forma leverage.
TRANCHE B / ACQUISITION BRIDGE
$300M–$500M
Underwritten Acquisition Bridge Facilities
Interim closing financing supporting transaction certainty, with permanent debt, incremental equity or refinancing forming the contemplated bridge take-out.
TRANCHE C / REVOLVER
$200M–$350M
Working Capital & Integration Revolvers
Revolving commitments supporting acquired businesses, liquidity requirements, approved integration expenses and qualifying working-capital needs.
A diversified specialty finance capitalization program established through legally segregated special-purpose vehicles. Each financing platform is structured around identifiable underwriting risks, receivables or contractual royalty assets, with independent collateral, investor priority, cash-flow waterfalls and asset-level reporting.
SPV A / INSURANCE-LINKED CAPITAL
$600M
Collateralized Reinsurance Sidecar
Investor-backed reinsurance capacity supporting selected ceded underwriting exposures, collateralized reserves and contractually defined premium, claims and investor-distribution waterfalls.
SPV B / STRUCTURED CREDIT
$600M
Private Credit Warehouse & Investment Vehicle
$450M indicative senior secured warehouse notes supported by $150M subordinated or first-loss capital, financing an eligible diversified portfolio of originated and acquired credit assets.
SPV C / IP MONETIZATION
$300M
Intellectual Property Royalty Finance
$200M indicative senior royalty-backed notes and $100M preferred or residual equity, supported by qualifying licensing agreements, contractual royalties and verified IP cash flows.
The NEXROC Group PARENT PLATFORM AND PUBLIC LISTING ROADMAP
| Parent / Entity | Platform | Market | Target Valuation | Target Date |
|---|---|---|---|---|
| The NEXROC GroupParent company and controlling HoldCo for the group structure. | Parent / HoldCo | Group Level | — | — |
| SVCV, Inc.Conglomerate and cultural holding company platform. | Conglomerate | Tokyo Pro | $2B | December 2035 |
| The GoGoPaPa CompanyMedia, entertainment, music, and digital streaming platform. | Media & Entertainment | Group Level | — | — |
| NEXROC, Inc.Asset management and alternative investment platform. | Asset Management | HKEX | $2B | September 2035 |
| NEXLIFE GroupInsurance firm and sponsor-led insurance platform. | Insurance Firm | NYSE RTO | $2B | April 2035 |
Listing venues, valuations and dates are forward-looking planning targets, not approvals, listings or confirmed transactions.
| Portfolio | Cumulative Return | Annualized Return | Annualized Volatility | Max Drawdown |
|---|---|---|---|---|
| Moderate | 300.5% | 8.3% | 10.5% | -23.0% |
| Moderate + 20% Multi-Alt |
320.7% ↑ 20.2% |
8.6% ↑ 0.3% |
9.1% ↓ -1.4% |
-22.3% ↑ 0.7% |
Debt Facilities — The NEXROC Group
Initial strategic capitalization / balance-sheet capital
Secured securities and acquisition financing facility
Operational and corporate liquidity facility
Milestone-based acquisition financing across NEXROC platforms
Funds — The NEXROC Group
Permanent-capital investment platform
Insurance and financial-services investment platform
Consumer, luxury and strategic operating assets
Strategic partner and institutional co-investment structures
The capacities and investment vehicles described above are illustrative program concepts. No executed commitments or funded amounts are implied.
Company-approved forward-looking projections and their underlying assumptions will be presented when available for public release.