CC Japan Income & Growth Trust PLC GBP · LSE:CCJI
CC Japan Income & Growth Trust PLC GBP — CC Japan Income & Growth Trust — Shareholder Meeting (February 2026)
22 slides from CC Japan Income & Growth Trust PLC GBP's shareholder meeting presentation, Feb 27, 2026
Slide 1: CC Japan Income & Growth Trust PLC Annual General Meeting
CC JAPAN INCOME & GROWTH TRUST PLC ANNUAL GENERAL MEETING 27 FEBRUARY 2026 This is a marketing communication. This is not a contractually binding document. Please refer to the Company’s latest Annual Report and original launch Prospectus. Please do not base any final investment decision on this comm
Slide 2: Fiscal Year Overview
FISCAL YEAR OVERVIEW
Slide 3: Full Year Results
FULL YEAR RESULTS 3 12 months to October 2025 For the year to For the year to 31 October 2025 31 October 2024 % Change % Change NAV cum-income total return per share1, 2, 3 25.2% 16.1% Share price total return1, 2, 3 27.9% 13.2% Tokyo Stock Exchange Price Index (“TOPIX”) total return 24.1% 13.4% Rev
Slide 4: 1 Year Attribution
1 YEAR ATTRIBUTION 4 Contribution by Sector Average Weight Total Return Active Effect GICS Sector Portfolio Benchmark Portfolio Benchmark Allocation Selection Holdings 116.5% 100.0% 25.0% 22.6% -5.1% 2.8% Communication Services 12.6% 7.8% 36.4% 51.1% -1.0% 0.8% Consumer Discretionary 7.3% 17.5% -24.
Slide 5: Portfolio Activity
PORTFOLIO ACTIVITY 5 12 months to October 2025 BUYS SELLS • WingArc1st • Hamamatsu • Dip • Technopro • Chugai Photonics • Macnica • Socionext Pharmaceutical • Hoya • Carta Holdings • Nitto Denko • Daiichi Sankyo • Noritsu Koki • Tokyo Ohka • Mani • Fujikura • Marui Kogyo • Aoyama Zaisan • Insource •
Slide 6: NAV & Price Performance (Part 1 of 2)
NAV & PRICE PERFORMANCE (PART 1 of 2) 6 CUMULATIVE PERFORMANCE SINCE IPO 250% 200% 150% 100% 50% 0% (50%) Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 Dec-25 Share Price Total Return NAV Total Return TOPIX TR (TPXDDVD in GBP) Independent NAVs are calculated daily by Apex Lis
Slide 7: NAV & Price Performance (Part 2 of 2)
NAV & PRICE PERFORMANCE (PART 2 of 2) 7 CALENDAR YEAR NAV TOTAL RETURN VS. TOPIX TOTAL RETURN 40% 30.5% 25% 21.1%23.6% 20.9% 17.4% 18.6%17.1% 15.5% 15.7% 12.8% 13.0% 9.5% 10.8% 10.5% 10% 1.2% 2.2% -5% -0.5% -4.6% -8.9% -11.0% -20% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 CCJI NAV (cum inc)
Slide 8: Dividend Growth Profile
DIVIDEND GROWTH PROFILE 8 CCJI Dividend: 7.8% Annual Compound Growth HISTORIC TRUST DIVIDENDS (GBX/Share) 6.0 5.90 5.45 5.30 4.90 5.0 4.75 4.50 4.60 4.0 3.75 3.45 4.25 3.75 3.85 3.00 3.50 3.0 3.20 3.35 3.10 2.50 2.30 2.0 2.00 1.0 1.55 1.60 1.65 1.25 1.40 1.40 1.40 1.40 1.00 1.15 0.0 2015/16 2016/17
Slide 9: CCJI – A Decade On
9 CCJI – A DECADE ON
Slide 10: What We Do
WHAT WE DO 10 Our Aim Our Desired Outcome To invest in financially sound, growing A portfolio that generates a strong total businesses that are making meaningful return throughout market cycles; capital returns to shareholders growth complemented by a meaningful and rising stream of dividend income
Slide 11: Cash Flow
CASH FLOW 11 Strong cash flow generation and better capital allocation enables Japanese companies to invest for growth and enhance corporate value JAPAN CAPITAL INVESTMENT AND CASH FLOWS SHAREHOLDER RETURNS OF JAPANESE COMPANIES (¥ trillion, quarterly; seasonally adjusted) (¥ trillion, yearly) 26 45
Slide 12: The Next Decade
THE NEXT DECADE 12 11. Macro Headwinds Reversing 22. Market Conditions Improving 33. Corporate Japan Remains Resilient 44. CCJI Offers a Long-Term Investment Solution
Slide 13: Macro Headwinds Reversing
MACRO HEADWINDS REVERSING 13 1 Headline CPI vs. 10 Year JGB Trend 10-YEAR PRICE PERFORMANCE (Monthly) Headline CPI 10 Year JGB Index (%) Yield (%) 6.0 2.5 2.0 4.5 1.5 3.0 1.0 1.5 0.5 0.0 0.0 -1.5 -0.5 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20 Jan-21 Jan-22 Jan-23 Jan-24 Jan-25 Jan-26 Headline CPI Index 10
Slide 14: Macro Headwinds Reversing (cont'd)
MACRO HEADWINDS REVERSING (cont’d) 14 1 Dollar & Sterling vs. Yen Trend 10-YEAR CURRENCY PERFORMANCE (Weekly) USD/JPY (x) GBP/JPY (x) 180 250 140 200 100 150 60 100 Feb-16 Feb-18 Feb-20 Feb-22 Feb-24 USD/JPY GBP/JPY Source: Bloomberg as of 30 January 2026
Slide 15: Market Conditions Improving
MARKET CONDITIONS IMPROVING 15 2 CUMULATIVE NET FOREIGN FLOWS FROM JAN-12 TO JAN-26 (¥Bn, weekly) 30,000 25,000 20,000 15,644 15,000 10,000 5,000 0 -5,000 Jan-12 Jan-14 Jan-16 Jan-18 Jan-20 Jan-22 Jan-24 Jan-26 Cumulative Foreign Flows Source: Bloomberg as of 30 January 2026
Slide 16: Market Conditions Improving (cont'd)
MARKET CONDITIONS IMPROVING (cont’d) 16 2 Current valuation spread is amongst the widest since fund launch despite improvements in cash flow, capital efficiency and corporate governance ADJUSTED PRICE / BLENDED 12 MONTH FORWARD EARNINGS (x, monthly) 28 Chikara Japan Income & Growth strategy launched
Slide 17: Corporate Japan Remains Resilient
CORPORATE JAPAN REMAINS RESILIENT 17 3 Room to Improve Shareholder Returns While total returns to shareholders have grown significantly, Japanese companies still have the potential to raise distribution levels further LISTED COMPANIES WITH NET CASH INTERNATIONAL PAYOUT RATIOS* (%) (%, yearly) 250 57
Slide 18: Corporate Japan Remains Resilient (cont'd)
CORPORATE JAPAN REMAINS RESILIENT (cont’d) 18 3 Launch of JPX Nikkei 400 Index Proposed Companies focused on high ROE & Reforms… good governance TSE Index reform4 Revision of Stewardship Code comes into effect Corporate Prime Minister Kishida Governance Code Companies Act revision requiring at METI
Slide 19: CCJI Offers a Long-Term Investment Solution
CCJI OFFERS A LONG-TERM INVESTMENT 19 4 SOLUTION 1. We developed our strategy explicitly for the Japanese market 2. We are a tightly knit investment team of generalists • Daily collaboration enables an agile decision-making process • Generalist approach aids portfolio management 3. We are truly long
Slide 20: Board Members
BOARD MEMBERS 20 June Aitken Non-Executive Director & Chair June has over 30 years of experience in Asian and emerging equity markets, and held numerous senior roles at HSBC Bank plc, London and at UBS AG. June is a Non-Executive Director and Chairman of the Audit Committee of JPMorgan Asia Growth a
Slide 21: Contact
CONTACT 21 Chikara Investments LLP 5-10 Bolton Street London W1J 8BA Alvin Lizarondo • Email: alizarondo@chikarainvestments.com • Office: +44 207 321 3484 Peel Hunt LLP (CCJI Broker) 100 Liverpool Street London EC2M 2AT Alex Howe (Sales) • Email: alex.howe@peelhunt.com • Office: +44 20 3597 8691 Ed
Slide 22: Disclaimer
DISCLAIMER 22 The information contained in this document has been prepared by Chikara Investments LLP (“Chikara”), for discussion purposes only. It has not been fully verified and is subject to material revision and further amendment without notice. This document is issued by Chikara Investments LLP
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