Consolidated Financial Results for the Second Quarter of
the Fiscal Year Ending March 31, 2019
(Based on Japanese GAAP)(Translation of Japanese Financial Summary, Released on November 7, 2018)
Company name: Sun Frontier Fudousan Co., Ltd.
Stock listing: Tokyo Stock Exchange 1st Section
Code number: 8934
URL: https://www.sunfrt.co.jp
Address: 14F, Toho Hibiya Building, 2-2, Yurakucho 1-chome, Chiyoda-ku, Tokyo 100-0006
Representative: Tomoaki Horiguchi, President
Inquiries: Yasushi Yamada, Managing Director(Phone: +81-3-5521-1301)*Amounts under one million yen have been rounded down.

1. Consolidated Performance in the Second Quarter of the Fiscal Year Ending March 31, 2019(1) Operating results*Percentage figures shown under net sales, operating income, ordinary income, and net income columns indicate
year-on-year changes for those items.
(“¥” indicates millions of yen, except for per share figures.)

Net Sales

Operating Income

Ordinary Income

2nd Quarter of FY ending March 31, 2019

¥33,02934.9%¥9,04063.4%¥8,74463.7%

2nd Quarter of FY ended March 31, 2018¥24,486

29.5%¥5,534

7.0%¥5,341

10.3%(Note) Comprehensive Income:2nd quarter of FY ending March 31 2019: ¥5,771 million (up 64.1%)
2nd quarter of FY ended March 31 2018: ¥3,517 million (up 4.1%)

Net Income

Net Income per Share(Yen)

Fully Diluted
Net Income per Share(Yen)

2nd Quarter of FY ending March 31, 2019

¥5,976

63.7%¥122.72¥122.70

2nd Quarter of FY ended March 31, 2018

¥3,6496.7%¥85.36¥ －(2) Financial Position (at end of the term)(“¥” indicates millions of yen)

Total Assets

Net Assets

Equity Ratio (%)

2nd Quarter of FY ending March 31, 2019¥98,260¥52,98953.9%

FY ended March 31, 2018

¥91,761¥48,849

53.2%(Reference) Shareholders’ Equity at term-end: 2nd Quarter of FY ending March 31, 2019 (as of September 30, 2018): ¥52,986million
FY ended March 31, 2018 (as of March 31, 2018): ¥48,847 million

2. Cash Dividends

FY Ended March 31, 2018
FY Ending March 31, 2019

1st Quarter-Cash Dividends per Share
2nd Quarter
3rd Quarter
0.00
0.00
0.00

FY Ending March, 2019 (Projections)

0.00

(Yen)
Year-end
33.50

Annual total
33.50

34.50

34.50

(Note) Changes from the latest released dividend forecasts: None

3. Forecast for Consolidated Financial Results for the Fiscal Year Ending March 31, 20191

(From April 1, 2018 to March 31, 2019) *Percentage figures indicate year-on year changes for those items.

(“¥” indicates millions of yen, except for per share figures.)

Net Sales

Operating Income

FY Ending March¥58,000
22.2%¥12,300
9.4%
31, 2019(Note) Changes from the latest released performance: None

Ordinary Income¥11,800

9.7%

Net Income¥8,20010.5%

Net Incomeper Share¥168.38

4. Others(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in changes inscope of consolidation): None
New companies: —Excluded companies: —(2) Adoption of special accounting practices in the preparation of quarterly consolidated financial statements: None
(3) Changes in accounting principles, procedures and presentation methods
1) Changes caused by revision of accounting standards: None
2) Changes of accounting standards other than 1) above: None
3) Changes in accounting estimates: None
4) Restatement of corrections: None
(4) Number of outstanding shares (common stock)1) Number of outstanding shares at the end of the period (including treasury stock):
2nd Quarter of FY ending March 31, 2019: 48,755,500 shares
FY ended March 31, 2018: 48,755,500 shares
2) Number of shares of treasury stock at the end of the period:
2nd Quarter of FY ending March 31, 2019: 56,643 shares
FY ended March 31, 2018: 56,643 shares
3) Average number of shares for the period:
2nd Quarter of FY ending March 31, 2019: 48,698,857 shares
2nd Quarter of FY ended March 31, 2018: 42,755,357shares※This Summary of Consolidated Financial Results is not subject to review processes under the Financial Instruments
and Exchange Act.
※Appropriate use of business forecasts; other special items
Business forecasts contained in this report are based on information available to the company on the date of thisreport’s announcement and assumptions deemed reasonable. The company provides no assurance that theforecasts will be achieved. Actual results may differ significantly from such forecasts due to unforeseen
circumstances.

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