Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Three Months Ended May 20, 2016
(Based on Japanese GAAP)
June 30, 2016
Nitori Holdings Co., Ltd.
Company name:
Stock exchange listing: Tokyo, Sapporo
Stock code:
Representative:

9843
President

URL

http://www.nitorihd.co.jp/Inquiries:

General Manager,Accounting and Finance Division

Toshiyuki ShiraiFumiki Takeda

Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results meeting:TEL

03-6741-1204

July 1, 2016
–Yes
Yes

(for institutional investors and analysts)(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the three months ended May 20, 2016 (from February 21, 2016 to May 20, 2016)(1) Consolidated financial results (cumulative)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating income
Ordinary income
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Three months ended May 20, 2016
137,033
14.9
27,25630.9
27,65829.4
16,921
42.9
Three months ended May 20, 2015
119,226
1.7
20,825(5.3)
21,381(4.4)
11,839(1.3)(Note) Comprehensive income:Three months ended May 20, 2016 12,576 million yen(2.4%) Three months ended May 20, 2015 12,283 million yen(19.1%)
Net income per share

Diluted net income per shareYen
152.88107.34Three months ended May 20, 2016
Three months ended May 20, 2015

Yen
151.59106.44(2) Consolidated financial position
Total assets
As of May 20, 2016
As of February 20, 2016
(Reference) Equity:
As of May 20, 2016

Net assets

Millions of yen
433,012414,541
340,072 million yen

Equity ratio

Millions of yen
341,404
330,968

As of February 20, 2016

%
78.5
79.5

329,695 million yen

2. Cash dividends
Annual dividends per share

Year ended February 20, 2016
Year ending February 20, 2017

1st quarter-end

2nd quarter-end

3rd quarter-endFiscal year-end

Yen––

Yen
30.00

Yen–Yen
35.00

Yen
65.00

35.00

–35.0070.00

Year ending February 20, 2017 (Forecast)(Note) Revisions to dividend forecasts published most recently: NoneTotal

3. Forecast of consolidated financial results for the year ending February 20, 2017 (from February 21, 2016 to February 20, 2017)
Percentages indicate year-on-year changes
Profit attributable toNet income
Net sales
Operating income
Ordinary income
owners of parent
per share
Millions of yen% Millions of yen% Millions of yen% Millions of yen%Yen
Six months ending
241,000
8.5
39,5007.6
40,0005.9
24,8008.3
223.87
August 20, 2016
Full year
500,000
9.1
79,0008.2
80,0006.7
51,4009.4
463.98(Note) Revisions to financial forecasts published most recently: None1

4. Notes(1) Changes in significant subsidiaries during the three months ended May 20, 2016(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

Yes(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:

Yes
No

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of May 20, 2016

114,443,496 shares As of February 20, 2016

114,443,496 shares

Number of treasury shares at the end of the period
As of May 20, 2016

3,662,771 shares As of February 20, 2016

3,854,468 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended May 20, 2016

110,684,729 shares Three months ended May 20, 2015

110,298,142 shares*Notice regarding quarterly review procedures for the quarterly financial results
This quarterly financial results statement is exempt from the quarterly review procedures based upon the Financial Instruments and ExchangeAct. At the time of disclosure of this quarterly financial results statement, the quarterly review procedure based upon the Financial Instruments
and Exchange Act has not been completed.
*Explanation for appropriate use of financial forecasts and other special notes
The forecasts given in this document are based on the information currently available to the Company and certain reasonable assumptions.
Actual results may differ from these forecasts for a variety of reasons.

2Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of February 20, 2016

As of May 20, 2016

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade42,327
15,25847,34019,818Merchandise and finished goods
Work in process

43,07990

37,642
238

Raw materials and supplies
Other

2,247
26,9942,271
31,481

Allowance for doubtful accounts
Total current assets

(8)

(8)

129,989

138,786

Non-current assets
Property, plant and equipment
Buildings and structures, net

88,22599,677Land
Other, net

115,504
21,134

118,718
13,454

Total property, plant and equipment

224,863

231,851

Intangible assets
Investments and other assets

11,20911,702

Guarantee deposits
Lease deposits

15,362
18,07914,922
18,137

Other
Allowance for doubtful accounts

15,046(9)

17,623(9)

Total investments and other assets

48,47850,673

284,551

294,226

414,541

433,012

15,356

16,125

Short-term loans payable
Accounts payable - other

1,504
16,1952,000
13,185

Income taxes payable
Provision for bonuses

14,9293,024

12,283
4,977

Provision for point card certificates
Provision for special benefits to shareholders

1,031
191

1,530
181

Other

15,36425,255

Total current liabilities

67,59775,539

625
228

–228

Net defined benefit liabilityAsset retirement obligations

2,279
3,902

2,342
3,941

Other

8,937

9,556

Total non-current liabilities

15,974

16,06983,57291,608

Total non-current assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable - tradeNon-current liabilities
Long-term loans payable
Provision for directors' retirement benefits

Total liabilities

3

(Millions of yen)
As of February 20, 2016

As of May 20, 2016

Net assets
Shareholders' equity
Common stock

13,37013,370Capital surplus
Retained earnings

14,411
308,854

15,430321,905Treasury stock(13,392)(12,726)

Total shareholders' equity

323,244

337,979

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

289
4,165

451
875

Foreign currency translation adjustment
Remeasurements of defined benefit plans

2,301
(305)

1,068
(302)

Total accumulated other comprehensive income

6,450

2,093

1,174
98

1,221
110

330,968

341,404

414,541

433,012

Accumulated other comprehensive income

Subscription rights to shares
Non-controlling interests
Total net assets
Total liabilities and net assets

4Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)Three months ended

Three months ended

May 20, 2015

May 20, 2016

Net sales
Cost of sales

119,226
56,786

137,033
62,422Gross profit

62,44074,611

Selling, general and administrative expenses

41,61447,354

Operating income

20,82527,256

Interest income
Foreign exchange gains

115
213

94–

Vending machine Income
Gain on sales of goods

51
68

55
72

Construction revenue from tenant
Facility use revenue–21138148

Other

104

99

Total non-operating income

576

608

Interest expenses
Foreign exchange losses

19–

14
166

Other

025

Non-operating income

Non-operating expenses

Total non-operating expenses

20206

21,381

27,65802

Subsidy income
Gain on reversal of subscription rights to shares

–
280
2

Total special income

284

22

Penalty for the scrap & build of outlets
cansellation penalty

––

9107

Other

478

Total special losses

7198

Income before income taxes and minority interests

21,37627,544

Income taxes

9,522

10,610Net income

11,853

16,9331411

11,83916,921

Ordinary income
Special income
Gain on sales of non-current assets

Special losses
Loss on sales and retirement of non-current assets

Profit attributable to non-controlling interests
Profit attributable to owners of parent

5Consolidated statements of comprehensive income (cumulative)(Millions of yen)

Net income
Other comprehensive income

Three months ended

Three months ended

May 20, 2015

May 20, 2016
11,853

16,933

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

207
409

161
(3,289)Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax

(185)
(0)

(1,232)
2

Total other comprehensive income

429(4,357)

12,283

12,576

12,26912,5641411

Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

6