Note: This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy
between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results
for the Nine Months Ended December 31, 2023
[Japanese GAAP]
February 8, 2024
Company name:
Nitori Holdings Co., Ltd.
Stock exchange listing: Tokyo, Sapporo
Code number:
9843
URL:
https://www.nitorihd.co.jp/
Representative:
Toshiyuki Shirai
President and Chief Operating Officer
Contact:
Masaomi Zenji
Executive Officer, General Manager, Accounting and Finance Division
Phone:+81-3-6741-1204
Scheduled date of filing quarterly securities report:
February 8, 2024
Scheduled date of commencing dividend payments:
Availability of supplementary briefing material on quarterly financial results: Yes
Schedule of quarterly financial results briefing session:
Yes (for institutional investors and analysts)(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Nine Months Ended December 31, 2023 (April 1, 2023 to December 31, 2023)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Nine months ended
December 31, 2023
663,746
5.1
97,8653.0
101,268
3.8
68,535
3.0
November 20, 2022
631,769
4.2
95,047(12.0)
97,564(11.7)
66,535(12.2)(Note) Comprehensive income:Nine months ended December 31, 2023: ¥79,579 million [7.5%]
Nine months ended November 20, 2022: ¥74,013 million [(9.3) %]Basic earnings
per share
Nine months ended
December 31, 2023
November 20, 2022

Diluted earnings pershare
Yen

Yen

606.45588.88-(2) Consolidated Financial Position
Total assets
Millions of yen
As ofDecember 31, 2023
1,196,126
March 31, 2023
1,133,771(Reference) Equity: As of December 31, 2023:
As of March 31, 2023:

Net assets

Capital adequacy ratio

Millions of yen

880,952
818,096¥
880,952 million¥818,096 million

―1―%

73.7
72.2

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2023

-

73.00

-73.00146.00Fiscal year ending March 31, 2024

-

75.00

75.00

150.00Year-end

Fiscal year ending March 31, 2024
(Forecast)(Note) Revision to the forecast for dividends announced most recently:

Total

No

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024(April 1, 2023 to March 31, 2024)(% indicates changes from the previous corresponding period.)
Profit attributable to Basic earnings
Net sales
Operating profit
Ordinary profit
owners of parent
per share
Millions of yen% Millions of yen% Millions of yen

Full year
932,000(1.7)
145,100
3.6(Note) Revision to the financial results forecast announced most recently:

147,000
No% Millions of yen

2.0

100,000%Yen

5.1

884.86* Notes:(1) Changes in significant subsidiaries during the nine months ended December 31, 2023
(changes in specified subsidiaries resulting in changes in scope of consolidation):
NoNew(Company name:
Exclusion:(Company name:(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:))Yes(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: Yes
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):December 31, 2023:
114,443,496 shares
March 31, 2023:
114,443,496 shares
2) Number of treasury shares at the end of the period:
December 31, 2023:
1,431,608 shares
March 31, 2023:
1,431,761 shares
3) Average number of shares outstanding during the period:
Nine months ended December 31, 2023:
Nine months ended November 20, 2022:

113,011,883 shares
112,986,808 shares*Quarterly financial results are not required to be subjected to quarterly reviews.
*Explanation for appropriate use of financial forecasts and other special notes
The forecasts given in this document are based on the current available information in the company and certain reasonableassumptions to the company. And we don’t commit to achieve these forecasting numbers. Actual results may differ from these
forecasts by a variety of reasons.

―2―Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets(Millions of yen)
As of March 31, 2023

As of December 31, 2023

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade131,928
57,408

129,605
58,754Merchandise and finished goods
Work in process

112,401479

100,217758

Raw materials and supplies
Other

7,496
20,641

5,673
27,461

Allowance for doubtful accounts

(1)

(2)

330,353

322,469

Buildings and structures, net
Land203,356
377,009

231,580
398,793

Other, net

69,11391,509Total property, plant and equipment

649,479

721,883

Goodwill
Other

19,61913,386

17,70013,505

Total intangible assets

33,00531,206

Investments and other assets
Investment securities

Total current assets
Non-current assets
Property, plant and equipment

Intangible assets

39,08941,304Long-term loans receivable
Guarantee deposits

562
16,893530
16,874

Leasehold deposits
Deferred tax assets

30,313
21,76530,78820,052

Other
Allowance for doubtful accounts

12,379(72)

11,090(72)

Total investments and other assets

120,932

120,568

Total non-current assets

803,417873,657

1,133,771

1,196,126

Notes and accounts payable - trade
Short-term borrowings

38,45983,06840,460117,330

Lease obligations
Accounts payable - other

1,602
24,0581,659
31,477

Income taxes payable
Contract liabilities

28,351
23,774

14,052
16,705

Provision for bonuses
Provision for point card certificates

8,380
114,140
11422
220

163
-

Other

13,41916,726

Total current liabilities

221,769

242,727

Total assets
Liabilities
Current liabilities

Provision for shareholder benefit program
Provision for loss on business liquidation―3―

(Millions of yen)
As of March 31, 2023
Non-current liabilities
Long-term borrowings

As of December 31, 2023

57,33035,000

Lease liabilities
Provision for retirement benefits for directors (andother officers)
Retirement benefit liability

4,598

5,188

228

228

5,886

5,985

Asset retirement obligations
Other14,800
11,06014,941
11,101

Total non-current liabilities

93,90572,446315,674

315,174

Shareholders' equity
Share capital

13,37013,370Capital surplus
Retained earnings

30,711
771,743

30,715823,553

Total liabilities
Net assets

Treasury shares(10,111)(10,112)

Total shareholders' equity

805,714857,526

Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges

1,769

4,163

(1,829)-Foreign currency translation adjustment
Remeasurements of defined benefit plans

12,479(36)

19,346(83)

Total accumulated other comprehensive incomeTotal net assets
Total liabilities and net assets―4―12,382

23,426

818,096

880,952

1,133,771

1,196,126

Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the nine months)(Millions of yen)
For the nine months
ended November 20, 2022

For the nine months
ended December 31, 2023

Net sales
Cost of sales

631,769
309,800

663,746
324,318

Gross profit

321,969

339,428

Selling, general and administrative expenses

226,921

241,563

Operating profit

95,047

97,865

401

934

40

521

471

173

793201508
88256
205

261
204

Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity
methodForeign exchange gains
Subsidy income
Vending machine income
Gain on sales of goods
Other

682

1,173

3,052

3,865

Interest expenses
Other

279
256

376
85

Total non-operating expenses

535

462

97,564

101,268

Gain on sale of non-current assets
Gain on change in equity

15-

722

Total extraordinary income

1530

28

12

Impairment losses
Loss on change in equity

706
30

512-

Provision for loss on business liquidation212-

Total non-operating income
Non-operating expenses

Ordinary profit
Extraordinary income

Extraordinary losses
Loss on sale and retirement of non-current assets

977

525

Profit before income taxes

Total extraordinary losses

96,602

100,773

Income taxes

30,06632,238

Profit

66,53568,535

Profit attributable to owners of parent

66,53568,535―5―

Quarterly Consolidated Statements of Comprehensive Income (For the nine months)(Millions of yen)
For the nine months
ended November 20, 2022
ProfitOther comprehensive income

For the nine months
ended December 31, 202366,535

68,535

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

560(4,769)

2,393
1,829

Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax

11,607
77

6,866
(46)

Total other comprehensive income
Comprehensive income

7,477

11,04374,013

79,57974,013

79,579Comprehensive income attributable toOwners of parent―6―