HOME CENTER and HOME FASHION STORE

Financial Results Briefing Material
for the Three Months Ended June 30, 2022
(April 01, 2022 - June 30, 2022)

August 1, 2022
NAFCO Corporation(Securities Code: 2790)

All Rights Copying NAFCO Co.,Ltd.

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HOME CENTER and HOME FASHION STORE

Summary of Financial Results forthe Three Months Ended June 30, 2022
Net sales

53.9

Billion yen

YoY Change

96.0%■ Sales of summer products remained strong due to the early end of the rainy season■ Household goods segment struggled as there was no signs of recovery in core business sectors such as
domestic houseware

Operating profit

4.2

Billion yen

YoY Change

96.8%% of sales

8.0%(YoY Change+0.1%)■ Gross profit margin improved, partly due to the effect of improving private brand ratio■ Selling, general and administrative expenses reduced by compensating for the increase in advertisingexpenses and utility expenses by implementing cost controls such as reducing logistics expenses

Ordinary profit

Profit4.3

2.7

All Rights Copying NAFCO Co.,Ltd.

Billion yen

Billion yen

YoY Change

96.8%% of sales8.1%

YoY Change

98.2%% of sales

5.1%(YoY Change+0.0%)(YoY Change+0.1%)
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11

HOME CENTER and HOME FASHION STOREStatements of Income for the Three Months Ended June 30, 2022
(Millions of yen)Three months ended
June 30, 2021

% of sales

Net sales

56,238100.0%

53,961100.0%

96.0%

Gross profit

19,56534.8%

18,934

35.1%

96.8%

Operating grossprofit19,64834.9%

19,020

35.2%

96.8%

Selling, general andadministrative
expenses

15,19127.0%

14,725

27.3%

96.9%

Operating profit

4,456

7.9%

4,295

8.0%

96.4%

Ordinary profit

4,541

8.1%

4,394

8.1%

96.8%

Profit

2,817

5.0%

2,766

5.1%

98.2%

All Rights Copying NAFCO Co.,Ltd.

Three months ended
June 30, 2022

% of sales

YoY Change

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22

HOME CENTER and HOME FASHION STORE

Balance Sheets
Fiscal Year Ended
March 31, 2022

(Millions of yen)
Change From
the End of the Previous
Fiscal Year

Three Months Ended
June 30, 2022

Net assets

233,075

240,274+7,198Current assets

100,744

107,791+7,047

34,111

39,852+5,741

132,331

132,482+151

118,557

118,614+57

75,31280,547+5,235Interest-bearing liabilities

20,293

19,953(339)

Of which, short-term borrowings

19,585

19,420(165)

Of which, current portion of long-termborrowings

599

449(150)

Of which, long-term borrowings

108

83(24)

157,763

159,726+1,963

Cash and deposit ratio (%)

14.6

16.6

Ratio of interest-bearing liabilities (%)

8.7

8.3

Equity ratio (%)

67.7

66.5

Current ratio (%)

161.1

159.3

Non-current ratio (%)

83.9

82.9

Of which, cash and deposits

Non-current assets
Of which, property, plant and equipment

Liabilities

Net assets

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HOME CENTER and HOME FASHION STORE

Trends in Sales Composition by ProductMaterials, DIY andgardening goods

Three months
ended
Jun. 2015

Three months
ended
Jun. 2016

All Rights Copying NAFCO Co.,Ltd.

Three months
ended
Jun. 2017

Householdgoods

Three months
ended
Jun. 2018

Furniture and homefashion goods

Three months
ended
Jun. 2019

Three months
endedJun. 2020

OthersThree months
ended
Jun. 2021

Three months
ended
Jun. 2022

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HOME CENTER and HOME FASHION STORE

Trends in Existing Stores
Net sales of existing stores compared to previous year (%)
Spread of “Omicron strain”“Application of Area-Focused
Intensive Measures for Prevention of
the Spread of Infection”(18 prefectures)

Three months ended June 30, 2022
cumulative(existing stores)

Net sales: 95.8%
Customers: 92.0%
Customer average: 104.1%

Western Japan
heavy rains

Government announcement ofemergency measures against
soaring crude oil prices

Jul.

Aug.

Sep.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

Early end ofthe rainy season

MayJun.

Sales
Customers
Customeraverage

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HOME CENTER and HOME FASHION STORE

Trends in Gross Profit Margin at the End of the Term
Left axis (gross profit margin: %)Right axis (private brand ratio: %)35.1%
Promotion of development ofprivate brand products forhome center products

Marked a record high forboth net sales and profit

Consumption tax hike to 8%
April 2014(%)

FY3/12

FY3/13

FY3/14

Promotion of scrap and build
Net loss in the number ofexisting stores for the first time

FY3/15

FY3/16

FY3/17

FY3/18Consumption tax hike to 10%
October 2019

FY3/19FY3/20FY3/21

FY3/22Q1 FY3/23

Private brandratio
Private brandratio

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HOME CENTER and HOME FASHION STORE

Factors for a Change in Operating Profit(Millions of yen)

Gross profit(123)

Selling, general and administrative expenses

(230)

+588
(232)

Householdgoods(46)
OthersMaterials, DIY
and gardening
merchandises

4,456

Three months ended June 30, 2021
Operating profit
All Rights Copying NAFCO Co.,Ltd.

+3(36)

Operatingrevenue(115)+30
Personnel
expenses(1)
OthersUtilities
expenses

Furniture and homefashion goods
Advertisingexpenses

Depreciation
and amortization

4,295

Three months ended June 30, 2022
Operating profit
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HOME CENTER and HOME FASHION STORE

Trends in Private Brand Ratio at the End of the Term(%)

Company total
Private Brand ratio

Fiscal year
ended
Mar. 2019
All Rights Copying NAFCO Co.,Ltd.

Materials, DIY andgardening goods

Fiscal year
ended
Mar. 2020

Householdgoods

Fiscal year
ended
Mar. 2021Furniture and home fashion

Fiscal year
endedMar. 2022

Three months
ended
Jun. 2022
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88HOME CENTER and HOME FASHION STORE

Private Brand Products (Materials, DIY and Gardening goods)

Common Battery[Trends in Sales] (string trimmers, annual rate)
Engine-type

Battery-type

New products releasedin June 2022
NEW 18V garden blower

NEW 18V jigsaw

Battery-type exceeded
engine-type

NEW 14.4V thunder

Apr. 2018

Feb. 2019

Dec. 2019

All Rights Copying NAFCO Co.,Ltd.

Oct. 2020

Aug. 2021

NEW 18V chainsaw

Jun. 2022

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99HOME CENTER and HOME FASHION STORE

Private Brand Products (Materials, DIY and Gardening goods)

Fan Wear
Original
Fan wear for extreme heat measures

Expansion of usage scenarios
broadens the range of potential market

Short sleeve fan wear
Design that creates air
passages around the neck

All Rights Copying NAFCO Co.,Ltd.

Battery set
Up to 22 hours of use
Compatible with operation
by smartphone

Fan setLarge air volume
Approx. 68 L/s
Light weight
Approx. 95g
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HOME CENTER and HOME FASHION STORE

Private Brand Products (Materials, DIY and Gardening goods)

Casual Clothing
Clothing with natural insect repellent function

Lightweight trail shoes
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HOME CENTER and HOME FASHION STORE

Private Brand Products (Household goods)

One-Touch Tent
Easy to set up in about 5 minutes
Favored by beginners

Reasonable and highly functional “Easy Up Tent”

Remove the inner tent
for a canopy-style
Easy Up

Dome Tent
Easy Up

Solo Tent

Compact and easy to store
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HOME CENTER and HOME FASHION STORE

Private Brand Products (Household goods)

Portable Spot Air Conditioner
Air Conditioner which requires no installation work, is portable, and is usefulin variety of situations

Mini spot air conditioner NFS1W
All Rights Copying NAFCO Co.,Ltd.

StoreSchool

Factory

Event Venue

Spot air conditioner NFS2WD
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HOME CENTER and HOME FASHION STORE

Private Brand Products (Household goods)

Slippers
Natural Material Series

Functional SeriesSide view

3D mesh insole

Ideal spacing improves
breathability

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HOME CENTER and HOME FASHION STORE

Private Brand Products (Furniture and Home Fashion goods)

DiningCeramic Tabletop Dining Series[Louise]North American White Oak Veneer
Dining Series[KANADE]■ Ceramic Tabletop
Resistant to "heat", "scratches/abrasion", "dirt/water stains"[Montana]

All Rights Copying NAFCO Co.,Ltd.

■ Rustic finish
Live edge tables enhance the oak texture

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HOME CENTER and HOME FASHION STORE

Private Brand Products (Furniture and Home Fashion goods)

Naturally-derived Cool Touch[Naturally-derived and Cool Touch Bedding]Linen that feels cool to the touch and rayon, a naturally
derived regenerated fiber with excellent moisture absorption,
are used.

[Naturally-derived Cool Touch Rug]
Bamboo rugs are desirable for their cool touch.
These are products that make use of the characteristics
of bamboo, such as "antibacterial material" and "highthermal conductivity material".

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HOME CENTER and HOME FASHION STORE

Number of Point Card Members(Ten thousand people)

Point card membership is increasing
through apps and cards(YoY Change +3.7%)

1,249
1,204
1,164

1,123

1,076
1,0239618852021
Reciprocal use of point
card on E-commercestarted808729
2020
Integrate point card inapp642

2019
Point card with inhouse money function

2013
Changed from 3 x points
plan to 5 x points

Q1
FY3/13

Q1
FY3/14All Rights Copying NAFCO Co.,Ltd.

Q1
FY3/15Q1
FY3/16Q1
FY3/17Q1
FY3/18Q1
FY3/19Q1
FY3/20Q1
FY3/21

Q1
FY3/22

Q1
FY3/2317

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17

HOME CENTER and HOME FASHION STOREApp[Product search function by barcode]
Easy access to the website with productinformation from the barcode.

[AR measure and memo function][Points common to stores and online](added in update)NEW

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HOME CENTER and HOME FASHION STORE

Outline of ESG initiatives
The main items are listed.
FieldE

Items

OutlineReduction ofcarbon dioxide
emissions・ Changing the lighting at stores to LED(completed 100%)・ Installation of solar panels on the roof ofstores

Environmentallyfriendly
products

・ Development and sales of herbicides
from natural ingredients・ Development and sales of rechargeable
electric string trimmer

Recycling afteruse

S

Role inDisasters

GCorporateGovernance

All Rights Copying NAFCO Co.,Ltd.

[Solar power generation]

Enzan Store(Yamanashi Prefecture)

・ Collecting PET bottles
・ Collecting used ink cartridges
・ Number of municipalities with which wehave entered agreements for the supplyof disaster supplies: 323
・ Product supplies through immediate
store restoration in the disaster area
・ Disclosing skill matrix
・ Participation in the “Electronic Voting
Platform”

Chino Store(Nagano Prefecture)

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1919

HOME CENTER and HOME FASHION STOREStore OpeningsNewstore

All Rights Copying NAFCO Co.,Ltd.

Store Name

OpeningLocation

Store style

TWO-ONE
STYLE
Matsuzakaya
Shizuoka

AprilShizuoka

Furniture and homefashion store

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HOME CENTER and HOME FASHION STORE

Number of Stores by Business Type
Small stores of300 tsubo
Furniture-onlystoresHI stand-alone
storesCombination
storesTotal
storesKansaiTohokuChugoku

Kanto
Chubu
KyushuAll Rights Copying NAFCO Co.,Ltd.

Shikoku
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HOME CENTER and HOME FASHION STORE

Business Growth Status
Compositionratio(no. ofstores)

Combination
store

39.8%

Home center

50.7%

Home fashion
store

3.9%

All Rights Copying NAFCO Co.,Ltd.

Related segment(s)Priority store opening pattern

Materials, DIYand gardening
merchandisesHouseholdgoods

Furniture andhome fashion
goods

OtherStore area

Number ofpeople inservedbusiness area

○○

○

○

13,000 square
meters or more

200,000○

7,000 square
meters,10,000 square
meters or more

100,000

7,000 square
meters300,000○○(someproducts)○

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HOME CENTER and HOME FASHION STORE

Trends in DividendInterim
Dividend(%)

Year-end
Dividend

Payout ratio

56 yen56 yen(forecast)

50 yen36 yenFiscal year
ended
Mar. 2014

38 yen38 yen38 yen 38 yen 38 yen 39 yen

Fiscal year
ended
Mar. 2015

Fiscal year
ended
Mar. 2016

Fiscal year
ended
Mar. 2017

All Rights Copying NAFCO Co.,Ltd.

Fiscal year
ended
Mar. 2018

Fiscal year
ended
Mar. 2019

Fiscal year
ended
Mar. 2020

Fiscal year
ended
Mar. 2021

Fiscal year
ended
Mar. 2022

Fiscal year
ended
Mar. 2023(forecast)

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HOME CENTER and HOME FASHION STORE

Support for Household■ Approx. 260 popular items werediscounted for a limited time
■ The sales promotion was implemented
both at stores and e-commerce to meetthe needs for defending livelihoods■ Implemented in JulyAll Rights Copying NAFCO Co.,Ltd.

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HOME CENTER and HOME FASHION STORE

Strengthened Outdoor Equipment

Seifushinto
Store(Hiroshima)

Chofu Store(Yamaguchi)■ Expansion of private brand products
centered on the original brand “Feel Sky”
■ Experience-based sales floor wherecustomers can imagine the usage scenariosby "come, see, and touch"

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2525

HOME CENTER and HOME FASHION STORE

Renovation of Existing Stores
Higashi-yatsushiro Store(Expansion of home center)

All Rights Copying NAFCO Co.,Ltd.

Ezu Store(Renovation of home center)

Store Name

ScheduledOpening

Location

Store style

Expansion

Higashiyatsushiro

AugustKumamoto

Combination store

Renovation

Ezu

AugustKumamoto

Combination store

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26
26

HOME CENTER and HOME FASHION STOREForecast for the Fiscal Year Ending March 31, 2023
No revisions have been made to the forecasts which were announced on April 28, 2022.
(Millions of yen)
Full-year(Plan)% ofsales

YoYChange(%)

Fiscal year
ended March 31,2022 (Results)% ofsales

Fiscal year
ended March31,2021 (Results)% ofsales

Net Sales

208,100

100.0%

100.8%

206,549

100.0%

234,578

100.0%

Operatingprofit12,8006.2%

106.6%

12,002

5.8%

18,221

7.8%

Ordinary profit

13,200

6.3%

105.0%

12,572

6.1%

18,918

8.1%

Profit

8,000

3.8%

100.5%

7,961

3.9%

11,6885.0%

Annualdividends

56 yen (forecast)(Interim/Full year)(28 yen/28 yen)

56 yen(28 yen/28 yen)50 yen(23 yen/27 yen)

*The Company has applied “Accounting Standard for Revenue Recognition” and others since the beginning of the fiscal year ended March 31, 2022.
The figures before the application of such Standard and others are presented based on the disclosed figures before the application.

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HOME CENTER and HOME FASHION STORE

appendix*The Company has applied “Accounting Standard for Revenue Recognition”
and others since the beginning of the fiscal year ended March 31, 2022.
The figures before the application of such Standard and others are presented
based on the disclosed figures before the application.

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2828

HOME CENTER and HOME FASHION STOREStatements of Income

科目
Items
（百万円）
(Millionsof yen)Threemonths ended
2021年3月期
June １Q
30, 2020
実績
Results

Three2022年3月期
months ended
June 30,１Q2021

YoY
Change前期比% 売上比
of sales

実績
ResultsThreemonths ended
2023年3月期
June １Q
30, 2022

YoY
Change前期比% 売上比
of sales

実績
Results

YoY
Change前期比% 売上比
of sales

売上高Net Sales

65,142111.7%

100.0%56,238

86.3%

100.0%

53,96196.0%

100.0%

Gross profit
売上総利益22,599117.9%

34.7%

19,565

86.6%

34.8%

18,934

96.8%

35.1%

---

19,648-34.9%

19,020

96.8%

35.2%

administrative
販売管理費

15,027

93.9%

23.1%

15,191101.1%

27.0%

14,725

96.9%

27.3%

Operating profit
営業利益

7,572

238.5%

11.6%

4,456

58.9%

7.9%

4,295

96.4%

8.0%

Ordinary profit
経常利益

7,672

233.0%

11.8%

4,541

59.2%

8.1%

4,394

96.8%

8.1%

当期純利益
Profit4,722

238.1%

7.2%

2,817

59.7%5.0%

2,766

98.2%

5.1%

Operating grossprofit

営業総利益

Selling, general andexpenses

Three2021年3月期
months ended
June 30,
１Q2020Three2021年3月期
months ended
June 30,
１Q2021Three
months ended
2022年3月期
June １Q
30, 2022

Net Sales
売上高112.3%

87.8%

95.8%

Customers
客数110.6%

84.5%

92.0%

Customer average
客単価101.4%

103.8%

104.1%

Existing Stores
既存店（前期比)(YoY Change)

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2929

HOME CENTER and HOME FASHION STORESegments

売上高NetSales（百万円）(Millionsof yen)Threemonths ended
2021年3月期
June１Q30, 2020
Results
実績

Threemonths ended
2022年3月期
June 30,１Q2021

YoY
Change前期比% 構成比of salesResults
実績

Threemonths ended
2023年3月期
June １Q
30, 2022

YoY
Change前期比% 構成比of salesResults
実績

YoY前期比Change% 構成比
of sales

資材・DIY・園芸

Materials, DIY andgardening goods

31,063114.9%

47.7%

27,962

90.0%

49.7%

27,136

97.0%

50.3%

Household goods
生活17,206113.4%

26.4%

13,567

78.8%

24.1%

12,924

95.3%

24.0%

Furniture andhome fashion goods

11,628104.9%17.9%

10,361

89.1%

18.4%

9,708

93.7%

18.0%

Othersその他

5,244

104.7%

8.0%

4,347

82.9%

7.8%

4,191

96.4%

7.7%

Total
合計

65,142111.7%

100.0%

56,23886.3%

100.0%

53,96196.0%

100.0%

家具・ホームファッション

2021年3月期
Threemonths ended
June１Q30, 2020

Grossprofit
売上総利益
（百万円）
(Millionsof yen)
実績
Results

前期比
YoY
Change2022年3月期
Threemonths ended
１Q2021
June 30,売上高
構成比% of sales

実績
Results

YoY前期比Change2023年3月期
Threemonths ended
June １Q
30, 2022
売上高構成比% of sales

実績
Results売上高構成比

YoY前期比Change% of sales

Materials, DIY andgardening goods

11,175120.3%

36.0%

9,961

89.1%

35.6%

9,838

98.8%

36.3%

Household goods
生活

5,004

123.7%

29.1%

3,922

78.4%

28.9%

3,692

94.1%

28.6%

家具・ホームファッション
home fashion goods

Furniture and4,777

108.8%

41.1%

4,350

91.0%

42.0%

4,118

94.7%

42.4%

Othersその他

1,641

114.1%

31.3%

1,332

81.2%

30.6%

1,286

96.5%

30.7%

Total
合計

22,599117.9%

34.7%

19,565

86.6%

34.8%

18,934

96.8%

35.1%

資材・DIY・園芸

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HOME CENTER and HOME FASHION STORE

Number of Stores by Area and Business Type

Number of
期末店舗数
Storesat theEnd of the Term

2021年3月期
Three months ended June 30, 2020
１Q

2022年3月期
Three months ended June 30, 2021
１Q

2023年3月期
Three months ended June 30, 2022
１Q

Combination
併合店
storesHI standHI単独店
alone
storesFurniture家具単独店
only stores

Combination
併合店
storesHI standHI単独店
alonestores

Furniture家具単独店
only stores

Combination
併合店
storesHI standHI単独店
alonestores

Furniture家具単独店
only stores

九州Kyushu

85

104

382

106

382

106

3

中国・四国

Chugoku andShikoku

3352

13352

13352

1

関西
Kansai

17216172161622

7Chubu
中部

913

1913

1913

2

Kanto andTohoku

392

3923

92147

199

13144

201

13

143

202

15

関東・東北

Total

合計

359

All Rights Copying NAFCO Co.,Ltd.

358360

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HOME CENTER and HOME FASHION STORE

Balance Sheets
Fiscal Year
Ended March 31, 2021
2021年3月期

科目
Items
（百万円）
(Millions of yen)

実績
Results

Compared tothe End of
前期末比thePrevious
Fiscal Year

Change From
the End of the増減
Previous FiscalYear

Fiscal Year
Ended March 31, 2022
2022年3月期

実績
Results

Compared to
the End of
前期末比
the Previous
Fiscal Year

Change From
the End of増減
the Previous
Fiscal Year

2023年3月期
Three Months Ended June 30, 2022
１Q
実績
Results

Compared to
the End of
前期末比
thePrevious
Fiscal Year

Change From
the End of増減
the Previous
Fiscal Year

総資産assets
Total

236,164

106.8%

15,126

233,075

98.7%(3,088)△3,088240,274

103.1%

7,198

流動資産 assets
Current

102,419119.5%

16,681

100,74498.4%△1,675(1,675)

107,791

107.0%7,047

40,984169.4%

16,793

34,111

83.2%(6,872)△6,87239,852116.8%

5,741

133,74498.9%(1,554)△1,554132,33198.9%△1,413(1,413)

132,482

100.1%

151

119,94298.9%(1,359)△1,359118,557

98.8%(1,384)△1,384

118,614100.0%

57

83,342105.9%

4,629

75,312

90.4%△8,029(8,029)80,547107.0%

5,235

22,03891.1%(2,156)△2,156

20,29392.1%(1,744)△1,744

19,953

98.3%

(339)
△339

152,821107.4%

10,497

157,763103.2%

4,941

159,726101.2%

1,963

Of which,cash and
うち、現金及び預金
deposits
Non-current
assets
固定資産
Of which, property,
うち、有形固定資産
plant and equipment

負債
Liabilities

Interest-bearing
うち、有利子負債
liabilities
純資産
Net
assets

項目Items

Fiscal Year
Ended March 31, 2021
2021年3月期

Fiscal Year
Ended March 31, 2022
2022年3月期

2023年3月期
１Q 30, 2022
Three Months
Ended June

Cash and deposit
現預金比率
ratio (%)

17.4%

14.6%

16.6%

Ratio of interest有利子負債比率
bearing
liabilities (％)

9.3%

8.7%

8.3%

Equityratio (%)
自己資本比率

64.7%

67.7%

66.5%

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Stock (Full-year)
項目Items

Fiscal Year
Ended March 31, 20202020年3月期

Fiscal Year
Ended March 31, 2021
2021年3月期

Fiscal Year
Ended March 31, 2022
2022年3月期

Number of
発行済株式総数（株）
IssuedShares29,784,400

29,784,400

29,784,400

Number of
自己株式（株）
Treasury
Shares1,221,600

1,221,800

1,221,800

１株あたり純資産（円）Net
Assets per Share

4,983

5,350

5,523

Dividendper Share
１株あたり配当額（円）395056

１株あたり純利益（円）Earnings
per Share

173

409

279

22.5%

12.2%

20.1%PayoutRatio
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HOME CENTER and HOME FASHION STOREThis document is intended solely for the purpose of providing information toinvestors.
We will disclose information as needed at an appropriate time depending on
the external environment and the progress of business performance.
This document may contain forward-looking statements. These statements
are not statements of past fact, but are instead forecasts based on
hypotheses and assumptions determined from information available at thecurrent time.
They also involve risks and uncertainties related to economic trends, market
environments, and the like.
Actual business performance may therefore differ from the Company’s
forecasts.

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