February 8, 2024
Company Name: Sun Frontier Fudousan Co., Ltd.
Representative: Seiichi Saito,President and Representative Director(Stock Code: 8934, TSE Prime Market)
Inquiries: Takeshi Hirahara
Executive Officer and General Manager ofCorporate Planning Department
TEL: 03-5521-1551

Notice of Revision to Financial Results Forecast for FY2024/3
and Revision to Cash Dividend Forecast (Increase and Commemorative dividend)
At the Board of Directors held today, the Company has decided to revise its forecast for consolidated
financial results and cash dividend forecast for FY2024/3 announced on May 12, 2023 as follows.
1. Revision of Forecast for Consolidated Financial Results for FY2024/3(April 1, 2023 to March 31, 2024)(“¥” indicates millions of yen.)

Net sales

Operatingprofit

Ordinary profit¥ million¥ million¥ million

Profitattributable toowners ofparent¥ million

83,00016,50016,00011,000226.66 yen

Revised forecast (B)79,00016,70016,50011,600238.99 yen

Increase (decrease)(B-A)-4,000

200

500

600

-Change (%)

-4.8%

1.2%

3.1%

5.5%

-(Reference)

82,777

14,905

14,722

11,612238.98 yen

Previous forecast (A)Results for FY2023/3

EPS(yen)Reasons
In Real Estate Revitalization Business, the profit margin of properties for sale in Replanning Businessexceeded the initial plan, so the profit for the full year is expected to reach the same level as the previous
forecast. Accordingly, the Company revised a part of sales plan for this segment for ¥ 4.5billion
downward revision of the sales forecast. In Real Estate Service Business, because the performance
progressed generally as planned, the forecasts for net sales and profit remain unchanged. In Hotel andTourism Business, due to the growing tourism demands, net sales and profit in Hotel Operation Businessare expected to exceed the previous forecasts. As a result, although consolidated net sales are expected
to be lower than the previous forecast, operating profit, ordinary profit and profit attributable to theparent company are expected to be higher than the previous forecast due to the improvement in profit
margin and demand expansion.

12. Revision of Cash Dividends Forecast for FY2024/3
Cash dividends per sharend2 quarter end
Previous Forecast(May 12, 2023)

Year end

26.00 yen

Revised forecast
Results for the fiscal year

26.00 yen

Results for the previous
fiscal year

23.00 yenTotal
26.00 yen

52.00 yen

30.00 yen(Ordinary dividend 28.00 yen)(Commemorative dividend 2.00 yen)

56.00 yen

25.00 yen

48.00 yen

Reasons
Due to the revision of forecast for consolidated financial results for FY2024/3, profit is expected toincrease more than the previous forecast. In addition, the Company will celebrate its 25th anniversary
on April 8, 2024. To express our gratitude to our shareholders for their support over many years, weresolved to pay a commemorative dividend of 2 yen per share.
As a result, the year-end dividend forecast for FY2024/3 will be 30.00 yen per share, a 4-yen increase
from the previous forecast.
(Note) Forward-looking statements are based on the information currently possessed by the Company
as of the announcement date of this document. Actual results may be different from suchexpectations.

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