This document has been translated from a part of the Japanese original for the convenience of non-Japanese shareholders. In the event of any discrepancy between thistranslation and the Japanese original, the original shall prevail.

May 13, 2022

Consolidated Financial Results for the First Six Months of the Fiscal YearEnding September 30, 2022 <under J-GAAP>
Company name:
Listing:
Section code:
URL:
Representative:
Contact:

Pressance Corporation Co., Ltd.
Standard Market of the Tokyo Stock Exchange3254
https://www.pressance.co.jp/
Yutaka Doi, President and Representative Director
Kyosuke Ichikawa, Executive Officer, Deputy General Manager of Management Division,and General Manager of Accounting Department
TEL: +81-6-4793-1650
Scheduled date of filing of quarterly securities report:
May 13, 2022
Scheduled date of start of dividend payment:
June 2, 2022
Preparation of supplementary quarterly materials for financial results:
Yes
Holding of quarterly financial results presentation meeting:No(Amounts less than one million yen have been omitted.)1.

Consolidated operating results for the first six months of the fiscal year ending September 30,
2022 (from October 1, 2021 to March 31, 2022)(1) Consolidated operating results
Net sales
Millions of yen
First six months of the fiscal
year ending September 30,
2022
First six months of the fiscal
period ended September 30,
2021
Note: Comprehensive income(Percentages indicate year on year changes
compared with the same period of the previous FY)
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen%

71,785―

10,988―

11,178

―

6,907

―

―

―

―

―

―

―

―

―

First six months of the fiscal year ending September 30, 2022: 7,899 million yen [(-)%]
First six months of the fiscal period ended September 30, 2021: - million yen [(-)%]
Basic earnings per
share
Yen

Diluted earnings per
share
Yen

101.33100.94――First six months of the fiscal
year ending September 30,
2022
First six months of the fiscal
period ended September 30,
2021

Note: Effective the fiscal period ended September 30, 2021, we have changed the fiscal year-end from March 31 to September 30. We did nothave a fiscal year that includes the six-month period from October 1, 2020 to March 31, 2021 as the first half of the fiscal year; thus,
consolidated operating results for the first six months of the fiscal period ended September 30, 2021 and year-on-year changes are notprovided.

(2) Consolidated financial position
As of March 31, 2022
As of September 30, 2021
Reference: Equity
As of March 31, 2022
As of September 30, 2021

Total assets
Millions of yen
252,585
256,024
153,909 million yen
147,400 million yen

Net assets
Millions of yen
154,272
148,256

Equity ratio
%
60.9
57.6

2.

Dividends
1st quarter-end
Yen

Annual dividends per share
2nd quarter-end 3rd quarter-end
Year-end
Yen
Yen
Yen

Fiscal period ended――
September 30, 2021
Fiscal year ending September―
16.00
30, 2022
Fiscal year ending September
30, 2022 (Forecast)
Note: Revisions to the dividend forecasts most recently announced: None

Annual total
Yen

―

16.00

16.00

―

16.00

32.00

Note that the fiscal period ended September 30, 2021 covers six months from April 1, 2021 to September 30, 2021 due tothe change to the fiscal year-end.

3.

Forecasts of consolidated operating results for the fiscal year ending September 30, 2022 (fromOctober 1, 2021 to September 30, 2022)
Net sales

Operating profit(Percentages indicate year on year changes.)
Basic
Profit attributable toOrdinary profit
earnings perowners of parent
shareMillions of yen % Millions of yen %Yen17,800 ―11,700 ―171.40Millions of yen % Millions of yen %Full year
142,500 ―18,000 ―Note: Revisions to the results forecasts most recently announced: Yes
The fiscal period ended September 30, 2021 covers six months from April 1, 2021 to September 30, 2021 due to the change tothe fiscal year-end. For this reason, year on year changes are not stated.
For details of the revision to earnings forecasts, please refer to "Revisions to Full-year Earnings Forecasts for the Fiscal YearEnding September 30, 2022" released on May 13, 2022. (Japanese version only.)

*
(1)

Notes
Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in a change inthe scope of consolidation): None(2)

Adoption of specific accounting policies for quarterly consolidated financial statements: Yes(Corporate Income Tax Calculation Standards)
Regarding taxes, a reasonable estimate of the effective tax rate for the projected full-year pretax income for thecurrent fiscal year, including the actual income figure for the first six months of the fiscal year, has been
arrived at using the tax-effect accounting method.

(3)

Changes in accounting policies, changes in accounting estimates and restatement after error corrections
a. Changes in accounting policies due to amendments to accounting standards and other regulations: Noneb. Changes in accounting policies due to reasons other than a. above: Nonec. Changes in accounting estimates: None
d. Restatement after error corrections: None(4)Number of issued shares (common stock)a. Number of issued shares at the end of each period (including treasury shares)
As of March 31, 2022
As of September 30, 2021

69,203,516 shares
68,858,316 sharesb. Number of treasury shares at the end of period
As of March 31, 2022
As of September 30, 2021

848,721 shares
867,061 sharesc. Average number of shares during the period
First six months of the fiscal year ending September 30, 2022
First six months of the fiscal period ended September 30, 2021

68,170,823 shares- sharesNote:
Due to the introduction of the share-based payment-type employee stock ownership plan (ESOP), a certain
number of shares of the Company held in the trust account is included in the “Number of treasury shares at theend of period” (309,320 shares as of March 31, 2022 and 309,860 shares as of September 30, 2021). And, acertain number of shares held in the trust account is included in the treasury shares that were deducted in
calculating the “Average number of shares during the period” (309,373 shares for the first six months of the
fiscal year ending September 30, 2022).
*Review of quarterly financial result reports by public accountants or auditing firms is not required.
*Explanations about the proper use of financial forecasts and other important notes(Caution Concerning Forward-Looking Statements)
Forward-looking statements in this document, including the results forecasts, are based on the information
available to the Company at the time of disclosure and on certain assumptions deemed to be practicable by
the Company. These statements do not purport that the Company pledges or ensures it will achieve suchstatements Actual business results and other results may differ substantially due to various factors. Actual
business results and other results may differ substantially due to various factors. For preconditions to theassumptions and other important notes concerning the financial forecasts, please refer to “(3) Explanation of
the Forecast of Consolidated Financial Results for the Fiscal Year Ending September 30, 2022” in “1.
Quarterly Qualitative Information” on page 2of the attachment.
(Method of Obtaining Supplementary Materials for Quarterly Financial Results)
Supplementary materials for quarterly financial results are available on TDnet and the Company’s website on
the release date of this document. (Japanese version only.)1. Quarterly Qualitative Information(1) Business Results
Effective the fiscal period ended September 30, 2021, we have changed the fiscal year-end from March 31 to
September 30. Year-on-year changes in amount and percentage are not provided as the period that the first six
months of this fiscal year covers (October 1, 2021 to March 31, 2022) is different from the first six months of
the fiscal period ended September 30, 2021(April 1, 2021 to September 30, 2021).
As the severe impact of the COVID-19 pandemic has been easing, the Japanese economy showed signs ofpicking up during the first six months of the fiscal year ending September 30, 2022. On the other hand, it isnecessary to pay close attention to downside risks to the economy due to supply constraints as well as pricehikes of raw materials, the impact of the COVID-19 pandemic and other factors. Fluctuations in the financial
and capital markets should also be watched carefully.
In the real estate industry to which the Group belongs, in addition to the risk of a resurgence in the COVID-19
pandemic, an increase in land costs in cities and construction costs and the like are causes for concern, theinterest rates on housing loans remain low while the Japanese government’s ongoing measures to help
homebuyers, such as a mortgage tax breaks, are still on track, contributing to a solid economy. The demand for
condominiums in the center of cities, which is our main supply area, was solid as some areas saw an increasein the number of households who are moving seeking the convenience of urban living and the like.
In these business circumstances, Pressance Corporation Co., Ltd. (the “Company”) has focused on supplying
condominiums in selected places in the central part of major cities in the Kinki, Tokai/Chukyo, and Tokyo
metropolitan areas, and other core regions including Okinawa, which are its major sales areas.
Under such business conditions, the Company posted the following consolidated performance for the first six
months of the fiscal year ending September 30, 2022. Net sales amounted to 71,785 million yen, operating
profit was 10,988 million yen, ordinary profit came to 11,178 million yen and profit attributable to owners ofparent posted 6,907 million yen.
An overview of operating results by business segment is as follows:

Real Estate Sales BusinessIn the real estate sales business, Pressance Loger Miyakojima Residence (128 units), a family-typecondominium in the Pressance Loger series, and Pressance Sakaisuji Hommachi Destiny (196 units), a
Pressance series studio condominium, have performed favorably.
In addition, although this is in line with our plan, sales of studio condominiums and family-type condominiums
have decreased significantly due to the smaller number of completed properties compared with the same periodof the previous year (October 1, 2020 to March 31, 2021).
The sales of studio condominiums amounted to 27,243 million yen (1,588 units), sales of family-typecondominiums were 29,315 million yen (702 units), sales of detached houses amounted to 2,276 million yen(55 units), sales of used condominiums 2,765 million yen (193 units), sales of other real estate totaled 6,135
million yen, and business accompanying real estate sales came to 470 million yen. Total sales of the real estate
sales business posted 68,207 million yen and segment profit amounted to 10,456 million yen.
Since sales from the condominium business, our main business, are recorded on a delivery basis that is later
than completion, there may be fluctuation in the quarterly sales results depending on the timing of landacquisition, development plans and/or construction schedules.

Other BusinessWith a decrease in rent revenue related to rent guarantees, the sales of the Other business amounted to 3,577
million yen, and segment profit was 1,028 million yen.

(2) Financial Position
Current Assets
Total current assets as of the end of the first six months of this fiscal year amounted to 233,561 million yen(down 1.6%), which represents a decrease of 3,814 million yen compared with the end of the previous fiscal
period. This was due mainly to a decrease in inventory of 4,111 million yen and a fall in short-term loans
receivable from subsidiaries and associates following collection of these loans of 3,960 million yen, which
offset an increase in cash and deposits of 4,030 million yen.

1

Non-current Assets
Total non-current assets as of the end of the first six months of the fiscal year came to 19,023 million yen (up2.0%), which represents an increase of 375 million yen compared with the end of the previous fiscal period.
This was due mainly to an increase in real estate for rent of 253 million yen because of the acquisition of selfowned real estate.

Liabilities
Total liabilities as of the end of the first six months of the fiscal year amounted to 98,312 million yen (down
8.8%), which represents a decrease of 9,455 million yen compared with the end of the previous fiscal period.
This was mainly due to an 8,560 million yen decrease in loans payable to financial institutions and a 437
million yen drop in income taxes payable due to the payment of income taxes.

Net Assets
Total net assets as of the end of the first six months of the fiscal year amounted to 154,272 million
yen (up 4.1%), which represents an increase of 6,016 million yen compared with the end of theprevious fiscal period. This was principally due to the increase in retained earnings of 5,814 million
yen because of the posting of profit attributable to owners of parent of 6,907 million yen, which
offset the cash dividends paid of 1,092 million yen.
Analysis of Cash Flows
Cash and cash equivalents as of the end of the first six months of the fiscal year ending September 30, 2022
totaled 103,953 million yen, which represents an increase of 4,030 million yen compared with the end of theprevious fiscal period.
The status and factors in each cash flow for the first six months of the fiscal year ending September 30, 2022
are as follows:

Cash flows from operating activities
Net cash provided by operating activities came to 11,514 million yen.
This was mainly due to cash inflow resulting from the posting of 11,058 million yen in profit before income
taxes and a decrease in inventories of 4,672 million yen following the delivery of condominiums, while there
was a cash outflow as a result of paying income tax of 3,589 million yen.

Cash flows from investing activities
Net cash provided by investing activities came to 2,993 million yen.
This was principally due to a cash inflow resulting from a decrease in short-term loans receivable of 4,303
million yen due to the collection of short-term loans receivable from subsidiaries and associates, while there
were cash outflows resulting from the acquisition of non-current assets of 1,116 million yen and loans to
subsidiaries and associates of 205 million yen.

Cash flows from financing activities
Net cash used in financing activities came to 10,479 million yen.
This was due mainly to cash outflows resulting from the net decrease in loans payable to financial institutionsof 8,560 million yen, repayments of investments to non-controlling shareholders of 1,177 million yen, and thedividend payment of 1,092 million yen.

(3) Explanation of the Forecast of Consolidated Financial Results for the Fiscal Year Ending
September 30, 2022
With regard to the consolidated earnings forecast for the fiscal year ending September 30, 2022, based on theoperating results for the first six months of this fiscal year, the Company has revised the earnings forecasts
announced on November 12, 2021.
For details, please refer to "Revisions to Full-year Earnings Forecasts for the Fiscal Year Ending September 30,
2022" released on May 13, 2022. (Japanese version only.)23. Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheets(Millions of yen)
As of September 30, 2021
AssetsCurrent assets
Cash and deposits
Accounts receivable - trade
Real estate for sale
Real estate for sale in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Real estate for rent, net
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term loans payable
Current portion of long-term loans payable
Income taxes payable
Advances received
Provision for bonuses
Other
Total current liabilities
Non-current liabilities
Long-term loans payable
Provision for share-based payment
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total accumulated other comprehensive income
Subscription rights to shares
Non-controlling interests
Total net assets
Total liabilities and net assets

3

As of March 31, 2022

103,138
89
23,491
102,347
143
8,290
(124)
237,376

107,168108
14,269107,443
157
4,548
(134)
233,561

14,592469
15,062
101
3,484
18,648
256,024

14,846493
15,339120
3,563
19,023
252,585

367
1,704
920
38,228
3,730
5,024
226
3,929
54,131

197
3,186
1,085
20,491
3,292
4,809
213
2,634
35,91052,798257
581
53,637
107,768

61,809284
308
62,402
98,312

6,890
7,892
133,489(883)
147,388

7,211
8,230
139,304(865)
153,880

10
1
11
439
416
148,256
256,024

10
18
28
351
12
154,272
252,585

(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income(Millions of yen)First six months of the fiscal year
ending September 30, 2022
(October 1, 2021 to March 31, 2022)

71,78553,012
18,772
7,783
10,988Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity
methodForeign exchange gains
Commission fee
Penalty income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Provision of allowance for doubtful accounts
Commission fee
Other
Total non-operating expenses
Ordinary profit
Extraordinary losses
Loss on sale of shares of subsidiaries and associates
Total extraordinary losses
Profit before income taxes
Income taxes
Net income
Profit attributable to non-controlling interests
Profit attributable to owners of parent

60
1
340
132
20
21
59
636
325
9
107
2
445
11,178119
119
11,058
3,175
7,883
975
6,907

4

Quarterly Consolidated Statements of Comprehensive Income(Millions of yen)First six months of the fiscal year
ending September 30, 2022
(October 1, 2021 to March 31, 2022)

7,883

Net income
Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to non-controllinginterests

0
2
13
16
7,899
6,924
975

5

(3) Quarterly Consolidated Statements of Cash Flows(Millions of yen)First six months of the fiscal year
ending September 30, 2022
(October 1, 2021 to March 31, 2022)
Cash flows from operating activities
Profit before income taxes
Depreciation
Amortization of goodwill
Increase (decrease) in allowance for doubtful accounts
Interest and dividend income
Interest expenses
Foreign exchange losses (gains)Share of (profit) loss of entities accounted for using
equity method
Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable trade
Share-based remuneration expenses
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for share-based
payment
Loss (gain) on sale of shares of subsidiaries andassociates
Increase (decrease) in advances received
Decrease (increase) in consumption taxes refund
receivable
Increase (decrease) in accrued consumption taxes
Other
SubtotalInterest and dividend income received
Interest expenses paid
Income taxes paid
Net cash provided by operating activities
Cash flows from investing activities
Payments into time deposits
Purchase of non-current assets
Proceeds from sales of non-current assets
Purchase of investment securities
Proceeds from sale of shares of subsidiaries andassociates
Payments of loans receivable from subsidiaries andassociates
Decrease (increase) in short-term loans receivable
Net cash provided by investing activities
Cash Flows from Financing Activities
Proceeds from long-term loans payable
Repayments of long-term loans payable
Proceeds from issuance of shares
Purchase of treasury shares
Cash dividends paid
Dividends paid to non-controlling interests
Net increase (decrease) in short-term loans payable
Repayments to non-controlling shareholders
Net cash used in financing activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

11,058
236
9
9
(61)
325
(132)
(340)
4,672
1,124
18
(13)
27
119
(217)
(188)
(879)
(602)
15,167268(332)(3,589)11,514(0)(1,116)
1
(5)
16
(205)
4,303
2,993
26,275(35,000)553(0)(1,092)(202)
165(1,177)(10,479)
2
4,030
99,922103,953

6

3. Others
Actual orders and sales
Effective the fiscal period ended September 30, 2021, the fiscal year-end has been changed from March
31 to September 30. For ease of comparison, the results for the same period a year ago (October 1, 2020
to March 31, 2021) are provided.
(1) Actual orders
The same period a year ago (October 1, 2020 to March 31, 2021)
Total amount of contracts
Name ofsegment

Real estate sales
business

Category

Studiocondominiums
Family-typecondominiums
Sale of hotel
property
Detached houses
Usedcondominiums
Sale of otherreal estate

Total amount of reportable segments

AmountNumber of Year on year
(Millions of
units
(%)
yen)

Outstanding balance of contracts
AmountYear on year Number of Year on year
(Millions of
(%)
units
(%)
yen)

Year onyear (%)

3,025

153.1

47,166

123.8

3,000

86.4

46,226

76.3

847

95.7

35,067

104.3

1,052

51.2

44,418

58.7

12

7.1

313

8.2

180

31.6

4,250

30.7

65

185.7

2,250

174.1

58

200.0

2,018

192.8

187

168.5

2,701

164.0

38

271.4

561

306.7

－

－

1,875

15.4

－

－

400

8.0

4,136

130.2

89,374

98.6

4,328

70.5

97,875

62.6

First six months of the fiscal year ending September 30, 2022 (from October 1, 2021 to March 31, 2022)
Total amount of contracts
Name of segment

Real estate sales
business

Category

Studiocondominiums
Family-typecondominiums
Sale of hotel
property
Detached houses
Usedcondominiums
Sale of other realestateTotal amount of reportable segments

Outstanding balance of contracts

Number ofunits

Year onyear (%)

Amount(Millions ofyen)AmountYear on year Number of Year on year
(Millions of
(%)
units
(%)
yen)

1,663

55.0

28,850

61.2

2,028

67.6

31,062

67.2

820

96.8

34,046

97.1

1,196

113.7

51,905

116.9

－

－

－

－

－

－

－

－

73

112.3

3,012

133.8

60

103.4

2,594

128.5

230

123.0

3,246

120.2

80

210.5

1,125

200.5

－

－

309

16.5

－

－

499

124.8

2,786

67.4

69,464

77.7

3,364

77.7

87,186

89.1

Year onyear (%)

Notes:
1. In the table above, “total amount of orders” has been replaced with “total amount of contracts.”
2. Amounts of additional constructions are included in the above amounts.
3. Number of units in total amount of contracts and the outstanding balance of contracts may fluctuate due tochanges in business plans and others.
4. Until the last fiscal period ended September 30, 2021, sales of houses other than newly built condominiums,
including the used condominiums and detached houses, were presented under the category of "sale of other typeof housing." Starting from the first three months of this fiscal year, however, they are now presented under"detached houses" and "used condominiums" respectively. In order to reflect the change in category, "sale ofother type of housing" in the same period of the previous year has been reclassified under the current
presentation.
5. Sale of other real estate refers to the sale of real estate other than housing, including commercial facilities,
commercial stores, and land for development.
6. The total amount of contracts and outstanding balance of contracts for sale of other real estate in the same periodof the previous year refer to land for development.
The total amount of contracts and outstanding balance of contracts for sale of other real estate in the first six
months of the fiscal year ending September 30, 2022 refer to commercial stores and land for development.
7*

* The total amount of contracts and the outstanding balance of contracts for studio condominiums in the first six
months of the fiscal year ending September 30, 2022 have decreased significantly compared with the same
period of the previous year. This is mainly due to the non-recurrence of large contracts of 14,495 million yen
with two non-Group companies for 14 buildings (1,044 units) in the same period of the previous year.

(2) Actual sales
Name ofsegment

Category

Studiocondominiums
Family-typecondominiums
Sale of hotel
property
Real estate
sales businessFirst six months of the fiscal year ending
September 30, 2022
(October 1, 2021 to March 31, 2022)
AmountYear onYear on year Number of Year on year
(Millions of
year
(%)
units
(%)
yen)
(%)

The same period a year ago(October 1, 2020 to March 31, 2021)

Detached houses

Usedcondominiums
Sale of other realestateBusiness
accompanying
real estate sale
Total amount of reportable segments
Other
Total

Number ofunits

Year onyear(%)

Amount(Millions of
yen)

3,214

147.6

52,026

126.5

1,588

49.4

27,243

52.4

939

132.8

36,601

141.7

702

74.8

29,315

80.1

289

43.5

6,240

38.4

－

－

－

－

69

176.9

2,299

176.4

55

79.7

2,276

99.0

172

159.3

2,479

154.4

193

112.2

2,765

111.5

－

－

4,160

50.8

1

－

6,135

147.5

－

－

649

147.8

－

－

470

72.5

4,683
－
4,683

126.7
－
126.7

104,457
3,944
108,402

110.3
101.2
109.9

2,539
－
2,539

54.2
－
54.2

68,207
3,577
71,785

65.3
90.7
66.2

Notes:
1. Amounts of additional constructions are included in the above amounts.
2. Until the last fiscal period ended September 30, 2021, sales of houses other than newly built condominiums,
including the used condominiums and detached houses, were presented under the category of "sale of other typeof housing." Starting from the first three months of this fiscal year, however, they are now presented under"detached houses" and "used condominiums" respectively." In order to reflect the change in category, "sale ofother type of housing" in the same period of the previous year has been reclassified under the current
presentation.
3. Sale of other real estate refers to the sale of real estate other than housing, including commercial facilities,
commercial stores, and land for development.
4. Business accompanying real estate sale includes income from post-delivery optional construction work such as
floor coating and income from intermediation fees from real estate sales.
5. Sale of other real estate in the same period of the previous year refers to land for development.
Sale of other real estate in the first six months of the fiscal year ending September 30, 2022 refers to commercial
facilities, commercial stores, and land for development.

8