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 14, 2021

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2021
<under J-GAAP>
Company name:
Listing:
Section code:
URL:
Representative:
Contact:

Pressance Corporation Co., Ltd.
First Section 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 ordinary general meeting of shareholders:
Scheduled date of start of dividend payment:
Scheduled date of filing of annual securities report:
Preparation of supplementary material on financial results:
Holding of financial results presentation meeting:June 25, 2021
June 28, 2021
June 28, 2021
Yes
None

(Amounts less than one million yen have been omitted.)1.

Consolidated operating results for the fiscal year ended March 31, 2021
(from April 1, 2020 to March 31, 2021)(1) Consolidated operating results
Net sales(Percentages indicate year-on-year changes.)
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen%

Millions of yen
Fiscal year ended
243,813
8.8
29,762
March 31, 2021
Fiscal year ended
224,011 39.5
32,609March 31, 2020
Notes: Comprehensive income Fiscal year ended March 31, 2021
Fiscal year ended March 31, 2020
Basic earnings per Diluted earnings
share
per share(8.7)

29,079 (9.1)

20,533 (6.2)

20.2
31,985 20.6
19,825 million yen [(9.1) %]21,801 million yen [19.1%]

21,892

19.7

Ratio of ordinary
Ratio of operating
profit to total
profit to net sales
assets%%%Return on equity

Yen
Yen
Fiscal year ended
315.32315.29March 31, 2021
Fiscal year ended
347.45340.18March 31, 2020
Reference: Share of profit (loss) of entities accounted for using equity method
Fiscal year ended March 31, 2021 (373) million yen
Fiscal year ended March 31, 2020 (0) million yen

16.1

10.0

12.2

21.1

10.4

14.6

(2) Consolidated financial position
Total assets
Millions of yen
Fiscal year ended
March 31, 2021
268,762
Fiscal year ended
March 31, 2020
310,779
Reference: Equity
Fiscal year ended March 31, 2021
Fiscal year ended March 31, 2020

Net assets
Millions of yen%

Net assets per share
Yen

140,13251.8

2,049.96

116,69037.1

1,791.63

139,353 million yen
115,253 million yen

Equity ratio

(3) Consolidated cash flows

Millions of yen

Millions of yen

Millions of yen

Cash and cash
equivalents at end of
periodMillions of yen

98,278(141)(52,112)87,70923,180(1,837)(19,059)

41,684

Cash flows fromoperating activities
Fiscal year ended
March 31, 2021
Fiscal year ended
March 31, 2020

2.

Cash flows frominvesting activities

Cash flows fromfinancing activities

Dividends
Annual dividends per share
1st quarter2nd
3rd quarterYear-end
endquarter-end
end
Yen

Yen

Yen

Yen

Annualtotal
Yen

Ratio of
Total cash
Payout ratio dividends todividends (Consolidated) net assets(Full-year)(Consolidated)

Millionsof yen%%Fiscal year ended
–
26.00
–
13.00
39.00
2,465
11.2
2.4
March 31, 2020
Fiscal year ended
–
13.00
–
16.00
29.00
1,934
9.2
1.5
March 31, 2021
Fiscal year ending
–
–
–
16.00
16.00
14.0
September 30, 2021 (Forecast)(Note) As stated in the “Notice Regarding Changes in Fiscal Year (Fiscal year-end)” disclosed on the release date of thisdocument, subject to approval at the Ordinary General Meeting of Shareholders scheduled to be held on June 25, 2021, weare planning to change the fiscal year-end from March 31 to September 30.

3.

Consolidated results forecasts for the fiscal year ending September 30, 2021
(from April 1, 2021 to September 30, 2021)(Percentages indicate year-on-year changes.)
Basic
Profit attributable to
Net sales
Operating profit
Ordinary profit
earnings perowners of parent
shareMillions of yen% Millions of yen% Millions of yen% Millions of yen%
Yen
Full year
95,203―
11,883―
11,415
7,791―
114.62(Note) As stated in the “Notice Regarding Changes in Fiscal Year (Fiscal year-end)” disclosed on the release date of thisdocument, subject to approval at the Ordinary General Meeting of Shareholders scheduled to be held on June 25, 2021, weare planning to change the fiscal year-end from March 31 to September 30. For this reason, year-on-year change(percentage) is not stated.

*
Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in thechange in scope of consolidation): None
(2) 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 other reasons than a. above: Nonec. Changes in accounting estimates: None
d. Restatement after error corrections: None
(3) Number of issued shares (common stock)a. Number of issued shares at end of period (including treasury shares)
Fiscal year ended March 31, 2021
Fiscal year ended March 31, 2020
b. Number of treasury shares at end of period
Fiscal year ended March 31, 2021
Fiscal year ended March 31, 2020

68,845,511 shares
65,198,961 shares

866,984 shares
870,054 sharesc. Average number of shares during the period
Fiscal year ended March 31, 2021
65,118,736 sharesFiscal year ended March 31, 2020
63,008,052 shares*NotesDue to the introduction of the share-based payment type ESOP, a certain number of shares of theCompany held in the trust account are included in the “Number of treasury shares at the end of period”(309,860 shares for the fiscal year ended March 31, 2021 and 313,320 shares for the fiscal year ended
March 31, 2020). Also, a certain number of shares held in the trust account are included in the treasury
shares that were deducted in the calculation of the “Average number of outstanding shares during theperiod” (310,865 shares for the fiscal year ended March 31, 2021 and 313,706 shares for the fiscal
year ended March 31, 2020).
* Financial results reports do not require auditing.
* 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 theCompany at the time of disclosure and on certain assumptions deemed to be practicable by the Company. Thesestatements do not purport that the Company pledges or ensures to achieve such statements. Actual business and otherresults may differ substantially due to various factors. For preconditions to the assumptions and other important notes
concerning the financial forecasts, please refer to “1. Business Results and Financial Position (4) Future Outlook” on page2 of the attachment.
(Method of Obtaining Supplementary Materials for Quarterly Financial Results)
Supplementary materials on financial results are posted on TDnet on the release date of this document (Japanese versiononly).

1. Business Results and Financial Position(1) Business Results
During the consolidated fiscal year ended March 31, 2021, the Japanese economy and the businessenvironment remained challenging due to the impact of the COVID-19 pandemic. Although there aresome signs of a pickup, we must pay close attention to the impact of infection trends on the economy in
and outside Japan and fluctuations in the financial and capital markets, etc.
In the real estate industry to which the Group belongs, in addition to the impact of the COVID-19
pandemic, land costs rose in cities and construction costs remain elevated. Although this and other factors
remain causes for concern, the interest 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 stable economy. The demand for condominiums in the center of cities, which is our main
supply area, was solid as more people or households tended to move seeking the convenience of urban
living.
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 our major sales areas.
Under such business conditions, the Company posted the following consolidated performance for the
fiscal year ended March 31, 2021. Net sales amounted to 243,813 million yen (up 8.8% year on year),
operating profit amounted to 29,762 million yen (down 8.7% year on year), ordinary profits amounted to
29,079 million yen (down 9.1% year on year) and profit attributable to owners of parent amounted to
20,533 million yen (down 6.2% year on year).
An overview of operating results by product segment is as follows:
Real Estate Sale BusinessIn the real estate sales business, Pressance Loger Kashihara-Jingumae (114 units), a family-typecondominium in the Pressance Loger series, and Pressance Shin-OSAKA J's (220 units), a Pressanceseries studio condominium, have performed favorably. With the result of business operation above, thesales of studio condominiums amounted to 99,860 million yen (5,948 units), sales of family-typecondominiums amounted to 99,681 million yen (2,695 units), sales of hotel properties amounted to
11,620 million yen (439 units), sales of other types of housing amounted to 6,904 million yen (348 units),
sales of other real estate amounted to 16,030 million yen, and business accompanying real estate sales
amounted to 1,516 million yen. Total sales of the real estate sales business posted 235,614 million yen(up 8.7% year on year) and operating profit amounted to 28,730 million yen (down 12.4% year on year).
Starting from the fiscal year ended March 31, 2021, “sales of condominium buildings” is included in“sales of studio condominiums.”
Other Business
The rent revenue with a high occupancy rate of the owned real estate for rent has remained high. The
sales in other business amounted to 8,199 million yen (up 11.9% year on year) and operating profit came
to 2,321 million yen (up 59.4% year on year).
As we announced in “Notice Regarding Outcome of the Tender Offer for Our Share Certificates by OpenHouse Co., Ltd. and Changes in Our Parent Company and Other Affiliated Companies” released on
January 15, 2021, and “Notice Regarding Completion of Payment for the Capital Increase through ThirdParty Allotment” released on January 19, 2021, the tender offer for the Company’s common stock
conducted by Open House Co., Ltd. and the issuance of new shares of common stock through the thirdparty allotment to Open House have completed. As of January 20, 2021, Open House had acquired
44,011,372 shares of the Company’s common stock and newly became the Company’s parent company.
Going forward, we will deepen our cooperation with the parent company and strive to create synergy.

(2) Analysis on Financial Position
Current Assets
Total current assets as of the end of this consolidated reporting fiscal year decreased by 47,026 million
yen and amounted to 249,040 million yen (down 15.9% year on year). This was mainly due to a decrease
in inventory of 94,498 million yen, while there was an increase in cash and deposits of 46,025 million yen.

1

Non-current assets
Total non-current assets as of the end of this consolidated reporting fiscal year amounted to 19,722
million yen (up 34.0% year on year), increased by 5,009 million yen. This was due mainly to an increase
in real estate for rent by 6,745 million yen following the transfer of real estate for sale to self-owned realestate, which offset a 2,431 million yen decrease in long-term loans receivable from subsidiaries andassociates as they are now due within one year.
Liabilities
Total liabilities as of the end of this consolidated reporting fiscal year amounted to 128,629 million yen(down 33.7% year on year), decreased by 65,458 million yen. This was mainly due to a 55,538 million
yen decrease in loans payable to financial institutions, a 5,166 million yen decrease in advances received
due to the delivery of condominiums, and a 2,281 million yen decrease in electronically recorded
obligations-operating due to the arrival of the payment due date.
Net Assets
Total net assets as of the end of this consolidated reporting fiscal year amounted to 140,132 million yen(up 20.1% year on year), increased by 23,441 million yen. This was principally due to the increase incapital stock and legal capital surplus by 2,589 million yen each following the capital increase throughthird-party allotment as well as the increase in retained earnings by 18,850 million yen because of theposting of profit attributable to owners of parent.

(3) Analysis on Cash Flows
Cash and cash equivalents as of the end of the fiscal year ended March 31, 2021 totaled 87,709 million
yen (up 110.4% year on year), increased by 46,025 million yen.
The state of and factors in each cash flow of the fiscal year are as follows:
Cash Flows from Operating Activities
Net cash provided by operating activities came to 98,278 million yen (Compared with 23,180 million yen
provided in the previous fiscal year).
This was mainly due to cash inflow resulting from a decrease in inventories by 86,909 million yen
following the delivery of condominiums and the posting of 29,344 million yen in profit before income
taxes, while there were cash outflows as a result of a payment of income tax of 11,076 million yen, adecrease in advances received by 5,043 million yen following the delivery of condominiums, and adecrease in notes and accounts payable-trade by 2,593 million yen reflecting an increase in the settlementof electronically recorded obligations-operating, and other factors.
Cash Flows from Investment Activities
Net cash used in investment activities came to 141 million yen (Compared with 1,837 million yen used in
the previous fiscal year).
This was principally due to the cash outflows resulting from loans to subsidiaries and associates of 865
million yen and acquisition of non-current assets of 163 million yen, while there were inflows that
resulted from sales of non-current assets of 889 million yen.
Cash Flows from Financing Activities
Net cash used in financing activities came to 52,112 million yen (Compared with 19,059 million yen usedin the same period of the previous fiscal year).
The main reason for this was cash outflow resulting from net decrease in loans payable to bank by 55,538
million yen.

(4) Future Outlook
Although it is necessary to pay attention to the impacts of the COVID-19 pandemic, we expect the market
to remain firm in the real estate industry, which we belong to, supported by the stable housing demandand other factors that stimulate willingness to buy, including the Japanese government’s ongoingmeasures to support homebuyers. In the condominium market, we expect that the population or thenumber of households in city centers will increase and that the demand in our main supply area willremain firm.

2

In such a business environment, the Group will continue providing condominiums in convenient citycenter locations that meet the needs of customers at an appropriate price level. In addition, we will further
strengthen our sales force by providing guidance and education to sales employees and pursue thecreation of new added value to meet diverse needs, aiming for further business growth. As we announced
in “Notice Regarding Conclusion of Capital and Business Alliance Agreement between Open House Co.,
Ltd. and Pressance Corporation Co., Ltd.” released on April 6, 2020, by combining the management
resources and business know-how of both companies, we will create business synergy, such as mutuallycomplementary geographical coverage and expansion of merchandise lineups, which will lead to further
strengthening and expansion of our business.
As stated in the “Notice Regarding Changes in Fiscal Year (Fiscal year-end)” disclosed on the release
date of this document, subject to the approval of “Partial Amendment of the Articles of Incorporation” atthe 24th Ordinary General Meeting of Shareholders scheduled to be held on June 25, 2021, we areplanning to change the fiscal year-end from March 31 to September 30. For this reason, the 25th fiscal
period, which is the transitional period for changing the fiscal year, is scheduled to cover 6 months from
April 1, 2021 to September 30, 2021.
The consolidated financial results for the 6-months from April 1, 2021 to September 30, 2021 are planned
as follows.
Real Estate Sale Business
Sales of studio condominiums is expected to be 44,728 million yen; sales of family-type condominiums,
32,403 million yen; sales of hotel properties, 8,000 million yen; sales of other types of housing, 5,548
million yen; sales of other real estate, 33 million yen; and sales of business accompanying real estate sale,
527 million yen. We plan to achieve total sales of 91,240 million yen in the real estate sales business.
Other Business
Sales in other business is expected to be 3,962 million yen from the rent revenue of the owned real estate
for rent and income of the rental management business, among others.
Expenses
We anticipate an increase in land acquisition costs and construction costs in cost of sales. With respect toselling, general and administrative expenses, an increase in expenses, including personnel expenses, is
expected due to the planned increase in personnel.
As a result, in the fiscal year ending September 30, 2021, the Group plans to achieve net sales of 95,203
million yen, operating profit of 11,883 million yen, ordinary profit of 11,415 million yen, and profit
attributable to owners of parent of 7,791 million yen.
(5) Basic Policy on Profit Distribution, Dividend for the Current and Next Fiscal Years
The Company has always considered returning profits to shareholders to be a top priority. Setting a stable
and continuous dividend payment as a basic policy, the Company is committed to increase shareholder
value by securing profits mainly as internal reserves and utilizing them for investment to strengthen thebusiness foundation and growth, taking into consideration future business development and businesscharacteristics.
The Articles of Incorporation stipulates that the Company will pay dividends of surplus by a resolution of
the Board of Directors, and basically pay dividends twice a year at the interim and end of the fiscal year.
For the year ended March 31, 2021, the Company plans to pay out a year-end dividend of 16 yen per
share, the annual total of which to be 29 yen per share for the full year, adding an interim dividend pershare.
As the next fiscal year covers six months from April 1, 2021 to September 30, 2021, we plan to pay out ayear-end dividend of 16 yen per share.
2. Basic Approach to the Selection of Accounting Standards
The Group prepares consolidated financial statements with Japanese accounting standards. The Groupintends to continue examining the application of international accounting standards with consideration forthe situations both in Japan and abroad.
33. Consolidated Financial Statements(1) Consolidated Balance Sheets(Millions of yen)
As of March 31, 2020
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
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Real estate for rent
Accumulated depreciation
Real estate for rent, net
LandConstruction in progress
Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Long-term loans receivable from subsidiaries
and associates
Deferred tax assets
Other
Total investments and other assets
Total non-current assets
Total assets

As of March 31, 2021

44,774142
27,074217,964
293
5,817
—

296,066

437
(192)
245
7,596
(603)
6,993
271
344
(214)
129
7,640
254

424
(226)
197
14,770(1,031)
13,738
243
0
317
(240)
77
14,257
149

71
51

51
38

3,193

762

2,472
1,027
6,817
14,712
310,779

3,709
754
5,315
19,722
268,762—

4

90,799112
8,538
142,143
152
7,389
(95)
249,040

(Millions of yen)
As of March 31, 2020
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
Deferred tax liabilities
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-salesecurities
Foreign currency translation adjustment
Total accumulated other comprehensive income
Subscription rights to shares
Non-controlling interests
Total net assets
Total liabilities and net assets

As of March 31, 2021

324
8,923
1,904
71,1807,428
10,788254
6,514
107,318

280
6,641
4,662
52,318
6,670
5,621
212
4,937
81,34485,903196
669
86,770
194,088

46,469231
3580
47,284
128,629

4,290
5,292
106,609(887)
115,306

6,880
7,882
125,460(883)
139,340

(1)

1

(50)
(52)
264
1,172
116,690
310,779

11
13
381
398
140,132
268,762—5

(2) Consolidated statements of income and comprehensive income
Consolidated Statements of Income(Millions of yen)
Fiscal year ended
March 31, 2020
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Sales commission
Advertising expenses
Directors’ compensations
Salaries and allowances
Bonuses
Provision for bonuses
Retirement benefit expenses
Provision for directors’ retirement benefits
Provision for share-based payment
Depreciation
Other
Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Purchase discounts
Foreign exchange gains
Commission fee
Penalty income
Real estate acquisition tax refund
Other
Total non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity
methodProvision of allowance for doubtful accounts
Commission fee
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sales of non-current assets
Gain on reversal of share acquisition rights
Total extraordinary income
Income before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Net income
Profit (Loss) attributable to non-controlling interests
Profit attributable to owners of parent

Fiscal year ended
March 31, 2021

224,011
170,886
53,124

243,813
196,541
47,271

8,579
619
598
4,871
323
211
61
13
51
98
5,086
20,51532,609

7,917
311
373
3,850
235
125
56
37
102
4,498
17,50929,762

15
1
0
2
43
153
38
77
333

4
1
2
55
63
586
48
163
927

941

756

0

373

—

95
257
127
1,610
29,0796
8957
31,985———31,985
11,003(887)
10,115
21,869(23)
21,892

6

—

210
54
264
29,344
10,819(1,234)
9,585
19,759(773)
20,533

Consolidated statements of comprehensive income(Millions of yen)
Fiscal year ended
March 31, 2020
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

7

Fiscal year ended
March 31, 2021
21,86919,759

(2)
(48)

3
46

(17)

15

(68)
21,80165
19,825

21,824

20,598

(23)

(773)

(3) Consolidated statements of changes in equity
Fiscal year ended March 31, 2020
(Millions of yen)
Shareholders’ equity
Capital stock:
Balance at beginning of current
periodCapital surplus

2,404

3,406

1,886

1,886

Retained earnings

Total shareholders’equityTreasury shares(887)

87,777

92,699Changes of items during period
Issuance of new shares

3,773

Dividends of surplus(3,059)(3,059)Profit attributable to ownersof parent

21,892

21,892

Disposal of treasury shares

00

Net changes of items otherthan shareholders’ equity
Total changes of items during
period

1,886

1,886

18,832022,606

Balance at end of current period

4,290

5,292

106,609(887)

115,306

Accumulated other comprehensive income

Balance at beginning of current
periodValuationdifference on
available-for-salesecurities

Foreign currencytranslation
adjustment

015

Total accumulated Subscription rights
to shares
othercomprehensive
income15

123

Non-controllinginterests

Total net assets

1,779

94,618Changes of items during period
Issuance of new shares

3,773

Dividends of surplus(3,059)Profit attributable to ownersof parent

21,892

Disposal of treasury shares0

Net changes of items otherthan shareholders’ equity

(2)

(66)

(68)

140

(607)

(534)

Total changes of items during
period

(2)

(66)

(68)

140

(607)

22,071

Balance at end of current period

(1)

(50)

(52)

264

1,172

116,6908

Fiscal year ended March 31, 2021
(Millions of yen)
Shareholders’ equity
Capital stock:
Balance at beginning of current
periodCapital surplus

4,290

5,292

2,589

2,589

Retained earnings

Total shareholders’equityTreasury shares(887)

106,609

115,306

Changes of items during period
Issuance of new shares

5,179

Dividends of surplus(1,682)(1,682)

Profit attributable to ownersof parent

20,533

20,533Purchase of treasury shares

(0)

(0)

Disposal of treasury shares

3

3

Net changes of items otherthan shareholders’ equity
Total changes of items during
period

2,589

2,589

18,8503

24,033

Balance at end of current period

6,880

7,882

125,460(883)

139,340

Accumulated other comprehensive income

Balance at beginning of current
periodValuationdifference on
available-for-salesecurities

Foreign currencytranslation
adjustment

(1)

(50)

Total accumulated Subscription rights
to shares
othercomprehensive
income(52)

264

Non-controllinginterests

Total net assets

1,172

116,690

Changes of items during period
Issuance of new shares

5,179

Dividends of surplus(1,682)

Profit attributable to ownersof parent

20,533Purchase of treasury shares(0)

Disposal of treasury shares

3

Net changes of items otherthan shareholders’ equity

3

62

65

116

(773)

(591)

Total changes of items during
period

3

62

65

116

(773)

23,441

Balance at end of current period

1

11

13

381

398

140,1329

(4) Consolidated Statements of Cash Flows(Millions of yen)
Fiscal year ended
March 31, 2020
Cash flows from operating activities
Income 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 directors’
retirement benefits
Increase (decrease) in provision for share-based
payment
Loss (gain) on sales of non-current assets
Gain on reversal of share acquisition rights
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
Cash flows from operating activities
Cash flows from investing activities
Purchase of non-current assets
Proceeds from sales of non-current assets
Purchase of investment securities
Proceeds from sales of investment securities
Payments of loans receivable from subsidiaries andassociates
Payments into time deposits
Proceeds from withdrawal of time deposit
Cash flows from investing activities
Cash Flows from Financing Activities
Proceeds from long-term loans payable
Repayments of long-term loans payable
Proceeds from issuance of common shares
Cash dividends paid
Net increase (decrease) in short-term loans payable
Repayments to non-controlling shareholders
Other
Cash Flows from 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

10

Fiscal year ended
March 31, 2021

31,985
471
100
—
(16)
941
(2)

29,344
314
100
95
(6)
756
(55)

0

373

(2,515)86,9092,392(2,593)

215
36

243
(41)

(623)

—

50

37

—
—
(718)

(210)
(54)
(5,043)

(238)

75

(465)
2,052
33,66516(909)(9,592)
23,1801,410(1,560)110,095
6(746)(11,076)
98,278

(187)
225
(2)
0

(163)
889
(2)
—

(1,372)

(865)

(684)
184
(1,837)——(141)

47,743(55,325)
182(3,058)(8,016)(584)—(19,059)

27,645(85,941)
5,116(1,681)
2,758—(8)(52,112)

(0)

1

2,283
39,40041,68446,02541,68487,709

5. Other(1) Corporate Officer Changes
a. Change of Presidentb.

Not applicable
Other officer changes (scheduled for June 25, 2021)• Candidate for new External Director (full-time Audit and Supervisory Committee member)
External Director (full-time Audit and Supervisory Committee member): Toshiyuki Yukami• Retiring External Director (full-time Audit and Supervisory Committee member)
External Director (full-time Audit and Supervisory Committee member): Hakaru Nakabayashi(2) Orders and salesa. Actual orders
Fiscal year ended March 31, 2020
Total amount of contracts
Name ofsegment

Category

Studiocondominiums
Family-typecondominiums
Real estate salebusiness

Sale of hotel
property
Sale of other typeof housing
Sale of other realestateTotal amount of reportable segments

Outstanding balance of contracts

Numberof units

Year onyear (%)

Amount(Millions of yen)

Year onyear (%)

Numberof units

Year onyear (%)

Amount(Millions of yen)

Year onyear (%)

4,340

91.5

81,541

95.8

3,471

83.8

60,557

82.3

2,043

99.3

76,714

102.9

2,057

96.9

75,715

97.6

309

25.8

7,440

27.3

570

54.1

13,856

53.9

272

249.5

5,498

299.0

43

226.3

1,229

269.0

—

—

14,137

133.0

—

—

4,973

54.1

6,964

85.9

185,332

92.9

6,141

83.7

156,331

83.8

Fiscal year ended March 31, 2021
Total amount of contracts
Name ofsegment

Real estate salebusiness

Category

Outstanding balance of contracts
Year
Numberon yearof units(%)

Year onyear (%)

Amount (Millionsof yen)Studiocondominiums

5,477

126.2

85,529

104.9

3,000

86.4

46,226

76.3

Family-typecondominiums

1,691

82.8

68,384

89.1

1,052

51.2

44,418

58.7

Sale of hotel
property

49

15.9

2,014

27.1

180

31.6

4,250

30.7

Sale of other typeof housing

401

147.4

8,254

150.1

96

223.3

2,580

209.8

Sale of other realestate——11,457

81.0

—

—

400

8.0

7,618

109.4

175,641

94.8

4,328

70.5

97,875

62.6

Total amount of reportablesegments

Year onyear (%)

Amount(Millions ofyen)

Numberof units

Year onyear (%)*Notes
1.
2.
3.
4.
5.

In the table above, “total amount of orders” has been replaced with “total amount of contracts.
Consumption taxes are not included in the above amounts.
Amounts of additional constructions are included in the above amounts.
Number of rooms in total amount of contracts and the outstanding balance of contracts may fluctuate due tochange of business plan.
The sale of other type of housing refers to the sale of houses, including used houses and detached houses, otherthan newly built condominiums.

11

6.

9.

The sale of other real estate refers to the sale of real estate, including commercial stores and lands fordevelopment, other than housing
Starting from the fiscal year ended March 31, 2021, “sale of condominium building” is included in “studiocondominiums.” For ease of comparison, the figures for the fiscal year ended March 31, 2020, have been recast
to conform to the current presentation.
Total amount of contracts and outstanding balance of contracts of sale of other real estate in the fiscal years
ended March 31, 2020 and 2021 refer to lands for development.
Business segments which are not included in the reportable segments are not applicable.

b.

Actual sales

7.

8.

Fiscal year ended March 31, 2020
Name ofsegment

Category

Year onyear (%)

Number ofunits

Year onyear (%)

94,555

170.5

5,948

118.7

99,860

105.6

101.5

78,587

101.6

2,695

127.8

99,681

126.8

793

80.9

19,292

109.5

439

55.4

11,62060.2

Sale of other typeof housing

248

253.1

4,726

313.2

348

140.3

6,904

146.1

Sale of other realestate——18,364

1,284.4——

16,03087.3

Business
accompanying
real estate sale

—

—

1,158

70.9

—

—

1,516

130.9

Total amount of reportablesegments

8,161

127.5

216,684

139.8

9,430

115.5

235,614

108.7

Other

—

—

7,327

132.4

—

—

8,199

111.9

Total

8,161

127.5

224,011

139.5

9,430

115.5

243,813108.8

Real estate salebusiness

Number ofunits

Year onyear (%)

Studiocondominiums

5,011

154.5

Family-typecondominiums

2,109

Sale of hotel
property

Amount(Millions ofyen)

Fiscal year ended March 31, 2021
Amount(Millions ofyen)Year onyear (%)*Notes
1.
2.
3.
4.
5.
6.

7.

Consumption taxes are not included in the above amounts.
Amounts of additional constructions are included in the above amounts.
The sale of other type of housing refers to the sale of houses, including used houses and detached houses, otherthan newly built condominiums.
The sale of other real estate refers to the sale of real estate, including commercial stores and lands fordevelopment, other than housing
Business accompanying real estate sale includes income from intermediation fees from real estate sales andincome from post-delivery optional construction work such as floor coating.
Starting from the fiscal year ended March 31, 2021, “sale of condominium building” is included in “studiocondominiums.” For ease of comparison, the figures for the fiscal year ended March 31, 2020, have been recast
to conform to the current presentation.
The net sales for sale of other real estate in the fiscal years ended March 31, 2020 and 2021 refers to lands fordevelopment.

12