タマホーム株式会社

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.

Summary of Consolidated Financial Results
for the Nine Months Ended February 28, 2022
[Japanese GAAP]
April 11, 2022
Company name: Tama Home Co., Ltd.
Stock exchange listing: Tokyo,Fukuoka
Code number: 1419
URL: https://www.tamahome.jp/
Representative: Shinya Tamaki
President & Representative Director
Contact: Shunichi Takeshita
Executive Director
Phone: 03-6408-1200
Scheduled date of filing quarterly securities report: April 11, 2022
Scheduled date of commencing dividend payments: Availability of supplementary briefing material on quarterly financial results: Yes
Schedule of quarterly financial results briefing session: Yes(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Nine Months Ended February 28, 2022 (June 01, 2021 to February 28, 2022)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Million yen%
Million yen%
Million yen%
Million yen%
Nine months ended
February 28, 2022
167,480
15.1
7,348
21.2
7,614
25.5
4,928
13.4
February 28, 2021
145,495
0.8
6,064
9.1
6,067
13.3
4,347
25.4
(Note) Comprehensive income:Nine months ended February 28, 2022:¥
4,929 million [16.1%]
Nine months ended February 28, 2021:¥
4,245 million [26.4%]
Basic earnings
per share
Nine months ended
February 28, 2022
February 28, 2021

Diluted earnings per
share
Yen

Yen

167.86147.59-(2) Consolidated Financial Position
Total assets
As ofFebruary 28, 2022
May 31, 2021
(Reference) Equity:

Net assets

Million yen

106,433
100,216
As of February 28, 2022:
As of May 31, 2021:

Equity ratio

Million yen¥¥

27,69026,21427,650 million
26,141 million

%

26.0
26.1

タマホーム株式会社

2. Dividends
Dividend per share
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended May 31, 2021

-

0.00

-

100.00100.00Fiscal year ending May 31, 2022

-

0.00

120.00120.00Year-end

Fiscal year ending May 31, 2022
(Forecast)(Note) Revision to the forecast for dividends announced most recently:
Yes(Note) Breakdown of the 3rd quarter dividend for the fiscal year ending May 31, 2022 :Commemorative dividend- yenSpecial dividend
- yen

Total

3. Consolidated Financial Results Forecast for the Fiscal Year Ending May 31, 2022(June 01, 2021 to May 31, 2022)(% indicates changes from the previous corresponding period.)
Profit attributable to Basic earnings
Net sales
Operating profit
Ordinary profit
owners of parent
per share%

Million yen%

Million yen%

Yen

Full year
235,000
7.8
12,0009.1(Note) Revision to the financial results forecast announced most recently:

Million yen%

Million yen

12,000
No

8.2

7,600

6.0

258.96* Notes:(1) Changes in significant subsidiaries during the nine months ended February 28, 2022
(changes in specified subsidiaries resulting in changes in scope of consolidation):
New(Company name:
Exclusion:(Company name:No(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:(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):February 28, 2022:
29,455,800 shares
May 31, 2021:
29,455,800 shares2) Total number of treasury shares at the end of the period:
February 28, 2022:
151,501 shares
May 31, 2021:
1 shares
3) Average number of shares during the period:
Nine months ended February 28, 2022:
Nine months ended February 28, 2021:

29,363,400 shares
29,455,799 shares))NoQuarterly Qualitative Information<Earnings Results>
During the third quarter of the current consolidated cumulative period, the Japanese economy experienced a sharp increase in thenumber of people infected by the Delta strain of the COVID-19 in the summer, followed by the re-spread of infection by the Omicronstrain, known as the sixth wave. Even after the pandemic was resolved, the outlook for the timing of economic normalization remained
uncertain. In addition, the recovery in global demand, particularly in the United States and China, has had a widespread impact on theinternational supply network, causing instability in the supply of some materials. In February, the geopolitical risk, such as Russia's
invasion of Ukraine, became apparent, causing resource prices to soar further. As a result, our company's business environment is
becoming increasingly uncertain.
While the housing industry, to which the Tamahome Group belongs, is supported by firm demand, such as a review of the living
environment due to the growing need for people to stay at home, it is also exposed to unprecedented upward pressure on costs, such as
the rapid increase in lumber prices since last spring, the impact of the so-called wood shock, due to the recovery of the world economy
from the coronavirus disaster, and the rise in international commodity markets because of the destabilization of Russia's invasion of
Ukraine.
While the business environment remains uncertain, the Tamahome Group continues to purchase lumber stably to start construction
and deliver houses quickly, backed by the high domestic timber usage rate. Our unique distribution system, "Tama Structure," directly
links us with forest cooperatives and forestry companies. In sales, we formulated and implemented sales strategies tailored to regional
characteristics and flexibly responded to changing customer values and behavioral patterns to strengthen further the revenue base of
our core custom-built housing business and improve profitability in each business.
The outline of each business is as follows:(Housing Business)
In the housing business, the custom-built housing business opened three new branches (of which one was relocated), bringing thetotal number of sales branches to 246. In addition, model houses and showrooms were renovated in 31 locations. In the COVID-19
pandemic, which has been ongoing since the previous year, the value of detached houses has been once again recognized, orders of ourstrategic products such as “regionally limited products” and “limited-time products” were favorable. In addition, the leveling of
construction starts, which we have been working on since the past fiscal year, continued to make steady progress, and the profit level
for the third quarter of the current consolidated cumulative period improved significantly.
In the renovation business, we continued to carry out activities to win orders for renovation. We are offering warranty extension work
to customers who have lived in their homes for at least ten years and continuous warranty extension work to customers who have lived
in their homes for a minimum of 15 years, capturing demand for replacement of housing equipment due to age deterioration. At thesame time, we made efforts to offer solutions that respond to changes in lifestyles, including remote work, and as a result, sales andprofits increased. In the future, we will continue to offer and sell the most suitable renovation plans according to the buildings' age andthe customers' needs while deepening our relationships with customers based on our abundant supplied housing information on morethan 140,000 buildings in total.
As a result of the above, in this segment, net sales were 136,100 million yen (up 16.7% year-on-year), and operating profit was 3,106
million yen (up 22.1% year-on-year).
(Real Estate Business)
In the real estate business, we focused on purchasing and selling small lots of less than ten in the detached house sales business,emphasizing capital turnover. As a result of continued efforts to increase the capability of specialized organizations that collect andcarefully select land information and strengthen procurement, both the orders received and deliveries were favorable. The number ofdetached houses delivered increased 10.7% year-over-year to 715. In the future, we will continue to monitor demand trends for detachedhouses closely and further strengthen the supply of high-quality houses and land purchases in response to market needs to expand thedetached house sales business steadily.
In the condominium business, during the third quarter of the current consolidated cumulative period, one of the three newcondominium projects was sold out, and sales activities for the remaining two projects are progressing smoothly. In addition to these
new condominium projects, we also actively promoted renovation sales of existing condominiums.
In the sublease business, although we continued to focus on acquiring properties under management located in the 23 wards of Tokyoand improving occupancy rates, sales fell due to a decrease in occupied floor space caused by the termination of some lease contracts
and the absence of large-scale construction work associated with move-ins and move-outs.
In the office unit ownership sales business, while the demand trend for office buildings has been weak since last spring, we proceededwith the steady sale of our stock and made efforts to purchase properties in the five major wards of Tokyo* where steady office demandis expected.
As a result of the above, in this segment, net sales were 25,062 million yen (up 9.0% year-on-year), and operating profit was 2,795
million yen (up 21.5% year-on-year).
*The five major wards of Tokyo are Chiyoda-ku, Chuo-ku, Minato-ku, Shinjuku-ku, Shibuya-ku.

(Financial Services)
In the financial services segment, we continued our efforts to sell insurance to customers who purchase houses from us, promote Flat
35, and provide bridge loans. In addition to the steady growth in the number of our houses delivered, the insurance and Flat 35 sales
remained strong, with the fire insurance coverage and Flat 35 utilization ratios remaining at high levels, respectively.
As a result of the above, in this segment, net sales were 1,092 million yen (down 1.1% year-on-year), and operating profit was 451
million yen (down 3.0% year-on-year).
(Energy Business)
In the energy business, electricity sales from the mega solar power generation facility operated commercially in Moutai City, Fukuoka
Prefecture, remained weak due to inclement weather such as torrential rains in August and the curtailment of output in October andJanuary following instructions from the power company.
As a result, in this segment, net sales were 624 million yen (down 1.7% year-on-year), and operating profit was 204 million yen (down
6.1% year-on-year).
(Other Businesses)
In other businesses, sales and profits increased, mainly in the housing-related business due to the steady growth in the number ofhouses delivered in our company.
As a result of the above, in this segment, net sales were 4,599 million yen (up 11.3% year-on-year), and operating profit was 734
million yen (up 52.3% year-on-year).
As a result, our consolidated operating results showed net sales of 167,480 million yen (up 15.1% year-on-year), operating profit
7,348 million yen (up 21.2% year-on-year), ordinary profit 7,614 million yen (up 25.5% year-on-year), and profit attributable to theowners of the parent 4,928 million yen (up 13.4% year-on-year).

タマホーム株式会社

Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets(Million yen)
As of May 31,2021
AssetsCurrent assets
Cash and deposits
Notes receivable, accounts receivable fromcompleted construction contracts and other
Operating loans
Real estate for sale
Costs on construction contracts in progress
Real estate for sale in process
Other inventories
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
Land
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investments and other assets
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

As of February 28,2022

32,681

30,076

1,294

1,488

7,200
9,234
12,054
10,225
599
1,321
(8)
74,6034,600
9,362
17,841
15,759
631
1,428
(8)
81,180

8,926
3,029
6,587
188
18,732
953

8,988
3,066
6,655
264
18,975
1,095

6,439
(513)
5,926
25,612100,216

5,693
(510)
5,182
25,253
106,433

タマホーム株式会社(Million yen)
As of May 31,2021
Liabilities
Current liabilities
Notes payable, accounts payable for construction
contracts and other
Short-term borrowings
Current portion of long-term borrowings
Income taxes payable
Advances received on construction contracts inprogress
Provision for warranties for completed
construction
Provision for bonuses
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

As of February 28,2022

15,301

16,571

12,588356
2,858

13,109482
223

25,88033,964

1,341

1,460

244
9,792
68,363946
4,549
71,308

2,140
1,816
1,681
5,638
74,001

3,870
1,809
1,753
7,434
78,743

4,310
4,280
17,334(0)25,924

4,310
4,280
19,318(450)
27,457

19

16

3
193
216
73
26,214
100,216

0
175
192
40
27,690106,433

タマホーム株式会社

Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the nine months)(Million yen)
For the nine months
ended February 28,2021
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Purchase discounts
Foreign exchange gains
Penalty income
Settlement received
Share of profit of entities accounted for using equity
methodOther
Total non-operating income
Non-operating expenses
Interest expenses
Commission for syndicated loans
Share of loss of entities accounted for using equity
methodOther
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Foreign currency translation adjustments reversal
gains
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Loss on cancellation of leases
Impairment losses
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

For the nine months
ended February 28,2022

145,495
110,360
35,13529,0706,064

167,480
128,869
38,611
31,262
7,348

1
0
50
38
71
-

1
0
53
47
81
150

8

-

120
291

126
459

171
4

106
-

-

19

113
289
6,067

68
194
7,614

46
0

-

31

-

79

-

57
11
69
6,077
979
730
1,709
4,367
20
4,347

58
5
63
126
7,488
1,808
727
2,536
4,952
23
4,928

タマホーム株式会社

Quarterly Consolidated Statements of Comprehensive Income (For the nine months)(Million yen)
For the nine months
ended February 28,2021
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
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

For the nine months
ended February 28,2022

4,367

4,952

(7)
1
(112)

(3)
(3)
(17)

(3)

1

(122)
4,245

(22)
4,929

4,226

4,904

18

24