Note:

This document has been translated from the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.

Consolidated Financial Results
for the Nine Months Ended November 30, 2021
<Under Japanese GAAP>
January 12, 2022
TOHO CO., LTD.
Tokyo Stock Exchange/Fukuoka Stock Exchange
9602
https://www.toho.co.jp/
Yoshishige Shimatani
President
Inquiries:
Harunori Kato
Senior Executive Officer in charge of Finance & Accounting, Corporate Management
Group
TEL:
+81-3-3591-1221
Scheduled date to file Quarterly Securities Report:
January 12, 2022
Scheduled date to commence dividend payments:–
Preparation of supplementary material on quarterly financial results: Yes
Holding of quarterly financial results presentation meeting:
None
Company name:
Listing:
Securities code:
URL:
Representative:(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the nine months ended November 30, 2021 (from March 1,
2021 to November 30, 2021)(1) Consolidated operating results (cumulative)
Operating revenue
Nine months ended
November 30, 2021
November 30, 2020
Comprehensive income

Millions of yen

Operating profit%

168,620
137,840

22.3(31.5)

Millions of yen

28,176
17,176

Profit attributable toowners of parent

Ordinary profit%

64.0(59.9)

Nine months ended November 30, 2021
Nine months ended November 30, 2020
Basic earnings per
share

Nine months ended
November 30, 2021
November 30, 2020

(Percentages indicate year-on-year changes.)

Millions of yen

29,94618,205%64.5(58.9)¥19,554 million [75.0%]¥11,175 million [(63.3)%]

Diluted earnings per
share

Yen

Yen

–

114.01
63.06–(2) Consolidated financial position
Total assets
Millions of yen
As ofNovember 30, 2021
485,990
February 28, 2021
473,804
EquityAs of November 30, 2021
As of February 28, 2021

Net assets
Millions of yen

396,251
389,011¥383,176 million¥375,820 million

Millions of yen

Equity ratio
%

78.8
79.3

20,164
11,226%79.6(61.9)

2. Cash dividends
Annual cash dividends per shareFirst quarter-end

Second quarter-end

Yen
Fiscal year ended
February 28, 2021
Fiscal year ending
February 28, 2022

Third quarter-end

Yen

Fiscal year-end

Yen

−

17.50

−

−

17.50

−

Total

Yen

Fiscal year ending
February 28, 2022
(forecast)

Yen

17.50

35.00

17.50

35.00

Note: Revisions to dividends forecasts most recently announced: None

3. Consolidated earnings forecasts for the fiscal year ending February 28, 2022 (from March 1, 2021
to February 28, 2022)(Percentages indicate year-on-year changes.)
Operating revenue
Millions ofyen

Fiscal year ending
February 28, 2022

226,000%

17.7

Operating profit
Millions ofyen

38,000

Basic
Profit attributable toearnings perowners of parent
share

Ordinary profit%

69.3

Note: Revisions to earnings forecasts most recently announced: None

Millions ofyen

40,000%65.3

Millions ofyen

26,000

%

77.0

Yen

147.00* Notes(1) Changes in significant subsidiaries during the period: None
(2) Adoption of special accounting treatments for preparing quarterly consolidated financial statements:
None(3) Changes in accounting policies, changes in accounting estimates, and restatementa. Changes in accounting policies due to revisions to accounting standards and other regulations: Noneb. Changes in accounting policies due to other reasons: Nonec. Changes in accounting estimates: None
d. Restatement: None
(4) Number of issued shares (common shares)
a. Total number of issued shares at the end of the period (including treasury shares)
As of November 30, 2021

186,490,633 shares

As of February 28, 2021

186,490,633 sharesb. Number of treasury shares at the end of the period
As of November 30, 2021

9,925,152 shares

As of February 28, 2021

8,834,605 sharesc. Average number of shares during the period
Nine months ended November 30, 2021

176,867,718 shares

Nine months ended November 30, 2020

178,039,818 shares* Quarterly financial results reports are exempt from quarterly review conducted by certified public
accountants or an audit corporation.
*Proper use of earnings forecasts, and other special matters(Caution regarding forward-looking statements and others)
The forward-looking statements, including earnings forecasts, contained in these materials are based on
information currently available to the Company and on certain assumptions deemed reasonable by theCompany. Actual results may differ significantly from these forecasts due to various factors. Please referto “(3) Consolidated earnings forecasts and other forward-looking statements” in “1. Qualitative
Information” on page 5 of the attached materials for the suppositions that form the assumptions forearnings forecasts and cautions concerning the use thereof.
(Availability of supplementary material on financial results)
The supplementary document on quarterly earnings is disclosed on the same day as the quarterly financial
results, and it is made available on the Company’s website.

TOHO CO., LTD. (9602)
Consolidated financial results for the nine months ended November 30, 2021

Attached Material
1. Qualitative Information ........................................................................................................................................................ 2(1) Details of operating results .............................................................................................................................................2(2) Details of financial position ............................................................................................................................................4(3) Consolidated earnings forecasts and other forward-looking statements .........................................................................5
2. Quarterly Consolidated Financial Statements and Significant Notes Thereto ...................................................................... 6(1) Quarterly consolidated balance sheet ..............................................................................................................................6(2) Quarterly consolidated statement of income and consolidated statement of comprehensive income .............................8
Quarterly consolidated statement of income ...................................................................................................................8
Quarterly consolidated statement of comprehensive income ..........................................................................................9(3) Quarterly consolidated statement of cash flows ............................................................................................................10(4) Notes to quarterly consolidated financial statements ....................................................................................................11(Notes on going concern assumption) ...........................................................................................................................11(Notes on significant changes in the amount of shareholders’ equity) ..........................................................................11(Adoption of special accounting treatments for preparing quarterly consolidated financial statements) ......................11(Additional information) ...............................................................................................................................................11(Segment information) ..................................................................................................................................................12- 1 -TOHO CO., LTD. (9602)
Consolidated financial results for the nine months ended November 30, 2021

1.

Qualitative Information(1) Details of operating results
In the nine months ended November 30, 2021, the outlook for the Japanese economy remained
uncertain because of continuing weakness in recovery, despite gradual easing of the difficult situation
caused by the novel coronavirus disease (COVID-19).
Under these conditions, due to the declaration of states of emergency, the Group carried out measures
such as temporary closures/shortened operating hours at movie theaters, commercial facilities, etc.;
restrictions on sales for admission; and the suspension of theatre performances as well as thesuspension of ticket sales for some performances. On the other hand, blockbuster releases distributed
by TOHO and works under the animation label “TOHO animation” contributed to financial results.
Furthermore, even after lifting of state of emergency, the Company continued business, while taking
appropriate measures to prevent infection. As a result, the Company recorded operating revenue of¥168,620 million (up 22.3% year on year), operating profit of ¥28,176 million (up 64.0% year on year),ordinary profit of ¥29,946 million (up 64.5% year on year), and profit attributable to owners of parentof ¥20,164 million (up 79.6% year on year). Extraordinary income was recorded as “Subsidy income”
for subsidies for employment adjustment received due to special measures because of the impact of
COVID-19, subsidies from the Japanese and local governments, etc. Extraordinary losses wererecorded as “Loss caused by temporary closures” for personnel expenses, rent expenses, depreciation,etc. during the temporary closures of theaters, commercial facilities, etc. and production expenses, etc.
pertaining to suspended theatre performances.
The operating results by segment are as follows.

Cinema businessIn the Production and Distribution business, “EVANGELION:3.0+1.0 THRICE UPON A TIME,”“Detective Conan: The Scarlet Bullet,” “Belle,” “Masquerade Night” and “My Hero Academia: World
Heroes’ Mission” were blockbusters for TOHO CO., LTD. out of the collaborative productions anddistributed works. “Monster Hunter” was collaboratively distributed by TOHO CO., LTD. and Towa
Pictures Co., Ltd., and “Fast & Furious 9,” “No Time to Die,” etc. were distributed by Toho-Towa
Co., Ltd. As a result, operating revenue in the Production and Distribution business was ¥29,636
million (up 4.0% year on year) and operating profit was ¥6,986 million (up 15.2% year on year).
Combining the Production and Distribution department and the International business department of
TOHO CO., LTD., revenue was ¥33,888 million (down 3.0% year on year) before intracompany
transfers deduction (¥2,514 million, up 3.4% year on year). This consists of domestic distribution
revenue of ¥26,155 million (down 5.5% year on year), income from a film work that belongs to the
producer of ¥874 million (up 64.9% year on year), international sales income of ¥2,422 million (up76.5% year on year), TV program sales revenue of ¥655 million (down 35.4% year on year),videogram revenue of ¥342 million (down 66.5% year on year) and revenue from the Internet andother distribution of ¥3,439 million (up 3.8% year on year). Furthermore, revenue from the Planningand Production department was ¥540 million (down 36.3% year on year) before intracompany
transfers deduction (¥81 million, down 86.1% year on year).
In the Movie Theater Chain business, TOHO Cinemas Co., Ltd. carried out measures such as closuresand shortened business hours in Tokyo, Osaka, etc., and restrictions on sales for admission due to thedeclaration of state of emergency, and the situation continued to be difficult even after lifting of stateof emergency due to the release of works being postponed and response to requests for shortened
business hours from local governments to prevent the rebound of COVID-19. However, it saw anincrease in revenue due to the above distributed works being blockbusters in addition to theaterclosures, etc. not lasting as long compared with the same period of the previous fiscal year. As a result,the number of movie theater customers in the nine months ended November 30, 2021 increased by
20.7% year on year to 21,524,000. Operating revenue in the Movie Theater Chain business was¥40,958 million (up 27.6% year on year) and operating profit was ¥488 million (operating loss of¥1,235 million in the same period of the previous fiscal year).

- 2 -TOHO CO., LTD. (9602)
Consolidated financial results for the nine months ended November 30, 2021

With regard to theater changes in the nine months ended November 30, 2021, TOHO Cinemas Co.,
Ltd. opened “TOHO Cinemas Sevenpark Amami” (10 screens) in Matsubara-shi, Osaka on November
17. As a result, the number of screens managed by the corporate group increased by 10 to 712
throughout Japan (including 56 collaboratively managed screens).
In the Production and Licensing business, sales of works under the animation label, TOHO animation,
performed favorably in each business. In the Home Entertainment business, the TV animation“Umamusume: Pretty Derby Season 2” saw favorable sales on Blu-ray and DVD, and the TV
animation “JUJUTSU KAISEN” and the movie “Godzilla vs. Kong” as well as others were madeavailable. Revenue in the Animation Production business increased as a result of royalty from various
platform such as royalty from merchandising rights through investing into the production of the TV
animation “JUJUTSU KAISEN,” “My Hero Academia,” “Godzilla Singular Point,” etc. as well as themovie “My Hero Academia: World Heroes’ Mission.” In the Publishing and Merchandising business,sales of souvenir programs and character goods grew for the movie “Detective Conan: The Scarlet
Bullet,” TV animation “JUJUTSU KAISEN” and the movie “My Hero Academia: World Heroes’
Mission.” TOHO Studios Co., Ltd. operated smoothly as a result of integrating the Production andStudio businesses. Although TOHO EIZO BIJUTSU Co., Ltd. and Toho Butai Co., Ltd. saw somesigns of recovery in relation to stage production and art production for movies, TV and commercials,
etc. as well as production services for display items in theme parks, the situation continued to bedifficult. As a result, operating revenue in the Production and Licensing business was ¥36,270 million(up 67.4% year on year) and operating profit was ¥8,853 million (up 196.8% year on year).
In the Production and Licensing business department of TOHO CO., LTD., revenue was ¥35,119
million (up 74.2% year on year) before intracompany transfers deduction (¥6,386 million, up 103.7%
year on year). This consists of Home Entertainment business revenue of ¥10,297 million (up 64.9%
year on year), Publishing and Merchandising business revenue of ¥2,751 million (down 27.1% year
on year), Animation Production business revenue of ¥20,592 million (up 137.3% year on year), Liveaction Film Production business revenue of ¥769 million (down 25.5% year on year), Alternative
Content business revenue of ¥482 million (up 12.9% year on year) and other income of ¥225 million(up ¥225 million year on year).
As a result, in the overall Cinema business, operating revenue was ¥106,865 million (up 29.9% year
on year) and operating profit was ¥16,328 million (up 109.0% year on year).

Theatrical businessIn the Theatrical business, the Company suspended performances and ticket sales and refunded tickets
due to the declaration of the states of emergency. Even after lifting of state of emergency,
performances were carried out, while infection prevention measures were implemented. “Endless
Shock -Eternal-,” “MOZART!,” “Les Misérables,” “Crest of the Royal Family,” “DREAM BOYS,”“Knights’ Tale” and “My Fair Lady” were performed at TOHO CO., LTD.’s Imperial Theatre.
“GHOST,” “You’re a Good Man, Charlie Brown,” “CLUB SEVEN ZERO III,” “SHOW BOY,”“Little Shop of Horrors,” “DOGFIGHT,” “VOICARION XIII - Her Majesty’s Room -,” “Home, I’m
Darling,” “Grease,” etc., were performed at Theatre Creation, and other external theatrical works took
place throughout Japan. Furthermore, “Mademoiselle Mozart” was performed at Brillia HALL. As aresult, revenue increased significantly due to an increase in the number of performances year on year.
At Toho Entertainment Co., Ltd., affiliated actors worked favorably on commercial performances, etc.
As a result, operating revenue in the Theatrical business was ¥11,904 million (up 148.3% year onyear) and operating profit was ¥2,455 million (operating loss of ¥1,043 million in the same period of
the previous fiscal year).
In the Theatrical business department of TOHO CO., LTD., revenue was ¥10,444 million (up 187.8%
year on year) before intracompany transfers deduction (¥160 million, up 20.4% year on year). Thisconsists of production and exhibition revenue of ¥7,960 million (up 155.2% year on year), external
theatrical work revenue of ¥2,324 million (up 494.1% year on year) and other income of ¥159 million(up 34.6% year on year).

- 3 -TOHO CO., LTD. (9602)
Consolidated financial results for the nine months ended November 30, 2021

Real Estate business
The Lease of Land and Buildings business continued to be in a difficult situation due to factors suchas changes in the office environment and the closure of commercial facilities. The vacancy rate of realestate for leasing held by the corporate group was 0.3%, but revenue decreased due to factors such as
temporary tenants changing out. Operating revenue in the Lease of Land and Buildings business was¥20,273 million (down 3.9% year on year) and operating profit was ¥8,768 million (down 8.8% year
on year). TOHO CO., LTD. merged Bankatsu tochi kigyo Co., Ltd., one of its subsidiaries, effective
on November 1, 2021.
With regard to unrealized gains on non-current assets of the corporate group, TOHO’s equity of thevaluation difference after considering the tax effect of recognizing the assessed value of non-current
assets in the property tax ledger on January 1, 2021 as market price is approximately ¥346,100 million.
(The disclosure of these unrealized gains is not based on the “Accounting Standard for Disclosuresabout Fair Value of Investment and Rental Property (ASBJ Statement No. 30) Etc.,” but continues tobe carried out voluntarily, separately from this standard from the perspective of enhancing information
disclosure.)
In the Land and Building Leasing department of TOHO CO., LTD., revenue was ¥21,645 million(down 2.8% year on year) before intracompany transfers deduction (¥591 million, down 3.6% year onyear).
In the Road business, amid strong public investment into areas such as infrastructure development due
to aging, Subaru Enterprise Co., Ltd. and its subsidiaries worked to increase new orders and expand
orders for existing projects through proactive sales activities by using design proposals, etc. However,the situation continued to be unpredictable due to rising labor costs and equipment prices. As a result,operating revenue in the Road business was ¥20,324 million (down 1.0% year on year) and operating
profit was ¥2,972 million (down 10.5% year on year).
In the Building Maintenance business, TOHO BUILDING MANAGEMENT Co., Ltd. and Toho
Facilities Co., Ltd. worked to increase orders by improving the utilization ratio of commercial facilities,
such as hotels and theaters, and reduce expenses. As a result, operating revenue was ¥7,288 million(up 1.4% year on year) and operating profit was ¥541 million (up 16.9% year on year).
As a result of the above, operating revenue in the overall Real Estate business was ¥47,885 million(down 1.9% year on year) and operating profit was ¥12,283 million (down 8.3% year on year).

Other business
The Amusement business and the Restaurant and Sports Facilities business performed favorably due
to the increase of customers at Toho Kyoei Kigyo Co., Ltd.’s Toho Chofu Sports Park. TOHORETAIL CO., LTD.’s restaurants, theater concession stands, etc. closed temporarily and shops closed
due to the continuing difficult situation regarding demand for eating out. As a result, operating revenue
in the Other business was ¥1,965 million (up 0.1% year on year) and operating loss was ¥35 million(operating loss of ¥232 million in the same period of the previous fiscal year).

(2) Details of financial position
With regard to financial position as of the end of the third quarter ended November 30, 2021, total
assets increased by ¥12,185 million from the end of the previous fiscal year to ¥485,990 million. Thiswas mainly due to increases of ¥8,999 million in short-term loans receivable with resale agreementand ¥13,818 million in land despite a decrease of ¥8,081 million in investment securities.
Liabilities increased by ¥4,945 million from the end of the previous fiscal year to ¥89,738 million.
This was mainly due to an increase of ¥3,461 million in income taxes payable.
Net assets increased by ¥7,239 million from the end of the previous fiscal year to ¥396,251 million.
This was mainly due to the recording of ¥20,164 million in profit attributable to owners of parent andan increase of ¥13,958 million in retained earnings due to ¥6,205 million in dividends of surplus aswell as an increase of ¥4,938 million in treasury shares due to acquisition, etc. by tender offer for- 4 -TOHO CO., LTD. (9602)
Consolidated financial results for the nine months ended November 30, 2021

treasury shares, and a decrease of ¥2,581 million in valuation difference on available-for-salesecurities.

(3) Consolidated earnings forecasts and other forward-looking statements
There have been no changes in the consolidated earnings forecasts for the fiscal year ending February
28, 2022, which were announced on October 12, 2021, in the “Consolidated Financial Results for the
Six Months Ended August 31, 2021.”- 5 -TOHO CO., LTD. (9602)
Consolidated financial results for the nine months ended November 30, 2021

2.

Quarterly Consolidated Financial Statements and Significant Notes Thereto(1) Quarterly consolidated balance sheet(Millions of yen)

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Securities
Inventories
Short-term loans receivable with resale agreement
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
LandConstruction in progress
Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets

As of February 28, 2021

As of November 30, 2021

37,53020,34539,094
8,906
47,99930,192(42)42,00322,31133,304
8,957
56,99923,948(44)

184,028

187,480

79,482
61,6202,106
8,417

81,07975,4384,334
8,805

151,626

169,656

3,458
2,608

2,923
2,716

6,066

5,639

Investments and other assets
Investment securities
Other
Allowance for doubtful accounts

113,400
18,989(306)

105,319
17,967(74)

Total investments and other assets

132,083

123,213289,776

298,509473,804

485,990

Total non-current assets
Total assets- 6 -TOHO CO., LTD. (9602)
Consolidated financial results for the nine months ended November 30, 2021

(Millions of yen)
As of February 28, 2021

As of November 30, 2021

Liabilities
Current liabilities
Accounts payable - trade
Short-term borrowings
Income taxes payable
Provision for bonuses
Other provisions
Asset retirement obligations
Other

18,397
116
2,258
907
204
68
17,51916,783
61
5,720
510
180
19
21,685

Total current liabilities

39,47344,961

3,489

3,595

155

134

236
6,858
34,580236
6,992
33,818Non-current liabilities
Retirement benefit liability
Provision for retirement benefits for directors (andother officers)
Other provisions
Asset retirement obligations
Other

45,31944,777

Total liabilities

Total non-current liabilities

84,79289,738

Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares

10,355
14,087357,068(23,771)

10,355
14,123371,026(28,710)

Total shareholders’ equity

357,740

366,795

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans

19,290800(952)(1,059)16,709
800
(156)
(973)

Total accumulated other comprehensive income

18,07916,380Non-controlling interests

13,191

13,075

Total net assets

389,011396,251

473,804

485,990

Total liabilities and net assets- 7 -TOHO CO., LTD. (9602)
Consolidated financial results for the nine months ended November 30, 2021

(2) Quarterly consolidated statement of income and consolidated statement of comprehensive
incomeQuarterly consolidated statement of income
Nine months ended November 30, 2021
(Millions of yen)
Nine months ended
November 30, 2020
Operating revenue
Operating costs
Gross profit
Selling, general and administrative expenses
Personnel expenses
Advertising expenses
Provision for bonuses
Retirement benefit expenses
Provision for retirement benefits for directors (and otherofficers)
Rent expenses on land and buildings
Other
Total 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
Other
Total non-operating income
Non-operating expenses
Interest expenses
Commission for purchase of treasury shares
Foreign exchange losses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sales of investment securities
Received settlement fee
Subsidy income
Total extraordinary income
Extraordinary losses
Loss on valuation of investment securities
Impairment loss
Demolition cost of fixed asset
Loss caused by temporary closures
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent- 8 -Nine months ended
November 30, 2021

137,840
87,18450,655

168,620
100,392
68,22813,762
1,668
114
735

14,731
3,999
140
735

13

20

4,720
12,46433,47917,176

5,626
14,79740,052
28,176

70
904

46
842

205

198

−
193
1,373

441
291
1,820

25
−
272
46
344
18,205

22
22
−
5
50
29,946

684
405
180
872
2,141

5
–
−
2,610
2,616

81
373
–
2,211
2,666
17,681
5,780
(341)
5,438
12,242
1,016
11,226

23
−
1,186
548
1,758
30,803
9,553
(0)
9,552
21,250
1,086
20,164

TOHO CO., LTD. (9602)
Consolidated financial results for the nine months ended November 30, 2021

Quarterly consolidated statement of comprehensive income
Nine months ended November 30, 2021
(Millions of yen)
Nine months ended
November 30, 2020
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
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 of parent
Comprehensive income attributable to non-controllinginterests- 9 -Nine months ended
November 30, 2021

12,242

21,250

(724)
(428)
104

(2,580)
796
85

(18)

2

(1,067)(1,695)

11,175

19,554

10,15818,464

1,016

1,089

TOHO CO., LTD. (9602)
Consolidated financial results for the nine months ended November 30, 2021

(3) Quarterly consolidated statement of cash flows(Millions of yen)
Nine months ended
November 30, 2020
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
Share of loss (profit) of entities accounted for using
equity method
Loss (gain) on valuation of investment securities
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in accrued consumption taxes
Other
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Income taxes refund
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of securities
Proceeds from sales of securities
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Purchase of investment securities
Purchase of shares of subsidiaries resulting in change inscope of consolidation
Loan advances
Collection of loans receivable
Investments in money held in trust
Proceeds from cancellation of money held in trust
Other
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Purchase of treasury shares
Dividends paid
Dividends paid to non-controlling interests
Payments from changes in ownership interests in
subsidiaries that do not result in change in scope of
consolidation
Repayments of lease obligations
Net cash provided by (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- 10 -

Nine months ended
November 30, 2021

17,681
6,425
534
(116)
(975)
25

30,803
6,573
688
(230)
(888)
22

(205)

(198)

81
(902)
668
8,184
(3,280)(3,694)
24,427
1,458(32)(18,645)
25
7,233

23
(1,923)
11(1,630)1,708
6,349
41,3081,049(49)(6,284)
2,355
38,379(12,199)
46,600(8,316)783(6,109)(35,599)
47,500(23,840)174(2,006)

–

(92)

(4)
62
–
−
317
21,132

(61)
36
(300)
3,100
(323)
(11,412)

(5)
15
(15)
(6,868)(9,797)
(423)

(54)
−
−
(5,788)(6,133)
(367)

(4)

(3)

(11)
(17,111)(11)(12,360)

(437)

1,148

10,816
118,445
129,262

15,75585,827
101,583

TOHO CO., LTD. (9602)
Consolidated financial results for the nine months ended November 30, 2021

(4) Notes to quarterly consolidated financial statements(Notes on going concern assumption)
Not applicable.
(Notes on significant changes in the amount of shareholders’ equity)
The Company purchased 1,366,503 treasury shares through tender offer based on a resolution at theBoard of Directors meeting held on April 13, 2021. Due to this purchase, treasury shares increased by¥4,938 million in the nine months ended November 30, 2021, bringing the amount of treasury sharesto ¥28,710 million as of the end of the third quarter ended November 30, 2021.
(Adoption of special accounting treatments for preparing quarterly consolidated financial
statements)
None(Additional information)
Amid repeated declarations of states of emergency, the Group suspended operations and shortened
business hours at movie theaters in applicable areas, cancelled, refunded, etc. theatre performancesand suspended operations of commercial facilities based on policies, requests, etc. from each local
government, and changed release schedules for film distribution in light of the status of COVID-19.
The Group has continued business, while taking appropriate measures to prevent infection even after
lifting of state of emergency on September 30, 2021.
There has been no material change from the assumptions regarding the impact of COVID-19 presented
in the additional information in the annual securities report for the previous fiscal year.
There is a considerable amount of uncertainty regarding the spread of infection going forward andwhen COVID-19 will come under control as well as the market after COVID-19 comes under control
and consumer trends. In the event that the status of COVID-19 or the impact on the economic
environment deviates from these assumptions, it could have an impact on the Group’s financial
position, operating results, and cash flow.

- 11 -TOHO CO., LTD. (9602)
Consolidated financial results for the nine months ended November 30, 2021

(Segment information)[Segment information]
I.

Nine months ended November 30, 2020
Disclosure of net sales and profit (loss) by reportable segment
Reportable segments

Net sales
Sales to externalcustomers
Intersegment sales
or transfers
Total
Segment profit(loss)

Other(Note 1)

Total

(Millions of yen)Amounts inthe quarterly
Adjustments consolidated(Note 2)statement ofincome(Note 3)Cinemabusiness

Theatricalbusiness

Real Estatebusiness

82,270

4,793

48,812

135,876

1,963

137,840−

137,840

1,039

12

3,220

4,273

32

4,305

(4,305)−83,3094,806

52,033140,150

1,995

142,145(4,305)

137,840

7,811(1,043)

13,395

20,163(232)

19,930(2,754)

17,176

Total(Notes) 1. The “Other” category is a business segment that is not included in the reportable segments and includes businesses
that operate restaurants and sports facilities.
2. The ¥2,754 million deducted from segment profit (loss) as adjustment consists of an addition of ¥1 million inintersegment transaction elimination, and a deduction of ¥2,755 million in corporate expenses that cannot beallocated to any reportable segment. Corporate expenses mainly consist of general and administrative expenses thatare not attributable to reportable segments.
3. Segment profit (loss) is adjusted with operating profit stated in the quarterly consolidated statement of income.

II. Nine months ended November 30, 2021
Disclosure of net sales and profit (loss) by reportable segment
Reportable segments

Net sales
Sales to externalcustomers
Intersegment sales
or transfers
Total
Segment profit(loss)

Other(Note 1)

Total

(Millions of yen)Amounts inthe quarterly
Adjustments consolidated(Note 2)statement ofincome(Note 3)Cinemabusiness

Theatricalbusiness

Real Estatebusiness

106,865

11,90447,885

166,655

1,965

168,620−

168,620

1,774

20

3,764

5,559

35

5,595

(5,595)−

108,640

11,92551,649172,2152,001

174,216(5,595)

168,620

16,3282,455

12,28331,066(35)

31,030(2,854)28,176

Total(Notes) 1. The “Other” category is a business segment that is not included in the reportable segments and includes businesses
that operate restaurants and sports facilities.
2. The ¥2,854 million deducted from segment profit (loss) as adjustment consists of an addition of ¥1 million inintersegment transaction elimination, and a deduction of ¥2,856 million in corporate expenses that cannot beallocated to any reportable segment. Corporate expenses mainly consist of general and administrative expenses thatare not attributable to reportable segments.
3. Segment profit (loss) is adjusted with operating profit stated in the quarterly consolidated statement of income.

- 12 -