January 18, 2019
To whom it may concern,
Company: Tamagawa Holdings, Co., Ltd.
Representative: President, Toru Masuzawa(JASDAQ Code: 6838)
Contact: Management Planning Division, Junya Tokumoto
Tel: 03-6435-6933

Notice on Revision of Performance Forecast

Please be informed that we have revised as follows the consolidated performance forecast
announced on August 10, 2018 in consideration of the recent performance trend.
1. Revision of consolidated performance forecast
Revision of performance forecast value of full FY March 2019 (April 1, 2018 through March 31, 2019)(Unit: Million yen)

SalesamountFormer forecast (A)Current revision (B)Change (B-A)
Increase-decrease rate(Ref.) Performance ofthe previous term
(FY Mar 2018)

5,186
3,875
△1,311△25.3%
3,255

Operatingprofit

Ordinaryprofit

239
119
△120
△50.2%

53

Current net profit
belonging to theparent company’s
shareholders

Currentnet profit
per shareyen

22
△85
△107－

1435
21
150.0%

3.44
8.43－－

△63

△146

△3.48

Reason for revision
In the renewable energy system sales business, completion of construction of the high-pressure
photovoltaic plant scheduled to be for sale in this term has been delayed due to influence of bad
weather, etc., of which sales amount may be recorded for the following term with the highestpossibility.

In addition, as a result of reviewing the order situation of each business segment andsuch reliability, the sales plan of the renewable energy system may highly possibly fall below theinitial sales plan including sales of the above high-pressure photovoltaic plants, and the sales
amount is estimated to reduce by 1,126 million yen.

In the electronic and communication device

business, sales amount of the ordered case will be recorded after the following term due to change
in the client delivery place, which resulted in estimate of sales amount reduction by 151 millionyen.

On the other hand, due to improvement of work efficiency and reduction of SGA, theoperating profit is estimated to reduce by 120 million yen.

In the renewable power plant business, although the sales amount reduces by 34 million yen
because there will be no power selling income after the assignment date due to assignment ofKasumigaura City Kamo Plant owned by the limited liability company, GP Energy B disclosed onDecember 3, 2018, the current profit belonging to the parent company’s shareholders is estimatedto exceed the initial forecast by recording 130 million yen of special profit (profit from fixed assetsales).
As a result of the above, the sales amount, operating profit and ordinary profit are estimated tofall below the initial forecast, and the current profit belonging to the parent company’s shareholders
is estimated to exceed the initial forecast.

The current profit belonging to the parent company’sshareholders may change due to the influence, etc. of the estimate concerning tax effect accounting.
We will, therefore, make announcement on any new event which may give material influence
immediately after occurrence thereof.
We will hereafter continue to make effort to further extend the corporate value and maximize theprofit.
(Note) The above performance forecast has been made base on the information currently available, and theactual performance may be hereafter different from the estimated value due to various factors.