February 1, 2024
For Immediate Release
TOKAI Holdings Corporation
Katsuo Oguri, Representative Director, President and CEO(Code No. 3167, TSE Prime Market)

Financial Results for the First Nine Months of the Fiscal Year Ending March 31,
2024– Net sales for the first nine months grew for the third consecutive fiscal year toreach a new record high –TOKAI Holdings Corporation (hereinafter, "the Company") today announced its financial results for the first ninemonths of the fiscal year ending March 31, 2024.

1. Q3 net sales grow for the third consecutive year to set new record highFor the first nine months of the fiscal year under review, net sales stood at 164.7 billion yen, up 0.4 billion yen
or 0.3% year on year, to achieve year-on-year growth for the third consecutive fiscal year and a new record
high. This result was mainly attributable to an increase in the number of customers in energy, CATV and otherbusinesses and expansion of the stock business for corporate clients in the information and communications
business, which offset a decrease in gas sales volume for households due to high air temperatures and other factors.
Operating profit rose 0.3 billion yen or 3.9% year on year, to 8.8 billion yen, mainly following a steady hike inthe number of monthly fee-paying customers accompanying an increase in the number of customer accounts.
Profit attributable to owners of parent surged 2.1 billion yen or 75.2%, to 4.9 billion yen, due mainly to the easingof the burdens arising from the share of profit of entities accounted for using the equity method that occurred in
the previous fiscal year.
(Millions of yen)
Q3 FY2023
Q3 FY2022
YoY
results
results(April 1, 2023 to(April 1, 2022 to
Change% change
December 31,
December 31,
2023)
2022)
Net sales
164,676
164,249+426+0.3％
Operating profit
8,797
8,466
+331
+3.9％
Ordinary profit
8,968
6,705
+2,263+33.8％
Profit attributable to owners
4,934
2,816
+2,118+75.2％of parent
EPS (yen)
37.78
21.52
+16.27+75.6％

2. Steady expansion of customer base in core businesses
As of the end of the third quarter under review, the number of continuing customers reached 3,341 thousand,up 41,486 from the count of 3,299 thousand at the beginning of the fiscal year (63,996 increased in the same
period of the previous year). This resulted from active efforts to win customers with the aim of achieving the
Medium-Term Management Plan.
With net increase of 21,905 (LP and city) gas customers (25,943 in the same period of the previous fiscal
year), 19,797 CATV customers (23,267), 8,129 Hikari Collaboration customers (15,697) and 6,028 LIMBO
customers (9,301), we further expanded our earnings base.

3. Medium-Term Management Plan 2025 was kicked off
Today, circumstances surrounding business entities and customers' values are changing rapidly, including shifts
in society following the COVID-19 pandemic, mounting awareness of sustainability and turbulent global
economic changes. Amid these changes, the Company understood that needs for addressing medium- and longterm issues for the continuous growth of society were emerging and so developed and adopted Medium-Term
Management Plan 2025, in which the fiscal year ending March 31, 2026 was determined as the final fiscal year.
The TOKAI Group will work to live up to the expectations of its stakeholders as a company which steadily
generates earnings despite the changing market environment.
For the fiscal year ending March 31, 2024, the Group will carry out initiatives in line with a growth story
consisting of three elements, namely the root, the trunk and the fruit of growth, and will aim to achieve income
and profit growth in full-year financial results.
The earnings and dividend forecasts for the fiscal year ending March 31, 2024 remain unchanged.
(Millions of yen)
FY2023 forecast
FY2022 results
YoY(April 1, 2022 to(April 1, 2023 toChange% change
March 31, 2024)
March 31, 2023)
Net sales
240,000
230,190+9,810+4.3％
Operating profit
15,00014,919+81+0.5％
Ordinary profit
15,00013,289+1,711+12.9％
Profit8,500
6,465+2,035+31.5％EPS (yen)
65.10+15.6949.41+31.8％
Customer count at end of
3,299,000
3,384,000+84,000+2.6％
fiscal year
FY2023
FY2022
FY2021(forecast)Interim (end of Q2)
16.00 yen
16.00 yen
15.00 yen
Year-end
16.00 yen
16.00 yen
17.00 yen
Annual dividend per share
32.00 yen
32.00 yen
32.00 yen
For details, please see the attached materials, entitled "Financial Results for the First Nine Months of the Fiscal
Year Ending March 31, 2024."
For the Company's earnings announcement for the first nine months of the fiscal year ending March 31, 2024,
please see the following URL:
https://www.tokaiholdings.co.jp/english/ir/library/earnings.html

Financial Results for the First Nine
Months of the Fiscal Year Ending
March 31, 2024

TOKAI Holdings Corporation(Code: 3167)
February 1, 2024

1©2023 TOKAI Holdings Corporation. All Rights Reserved.

Financial Results for the First Nine Months of the Fiscal Year Ending March 31, 2024Net sales for the first nine months showed year-on-year growth for the third consecutive fiscal year, rising to a newrecord high, chiefly reflecting an increase in the number of customers in Energy, CATV and other businesses andthe expansion of the Information and Communications business for corporate clients, which offset a decrease ingas sales volume for households due to high air temperatures and other factors.

Operating profit for the first nine months was up 300 million yen year on year, mainly following a rise in the numberof monthly fee-paying customers accompanying an increase in the number of customer accounts.



Ordinary profit and profit attributable to owners of parent increased markedly, due mainly to the easing of theburden arising from the share of profit of entities accounted for using the equity method that arose in the previous
fiscal year.
YoY
3Q FY2023 results

3Q FY2022 results% change(%)

Change©2023 TOKAI Holdings Corporation. All Rights Reserved.

164,676

164,249

+426

+0.3

Operating profit

8,797

8,466

+331

+3.9

Ordinary profit

8,968

6,705

+2,263+33.8

Profit attributable toowners of parent

4,934

2,816

+2,118+75.2

EPS (yen)

37.78

21.52

+16.27+75.6

Net sales(Net sales and profit: million yen; EPS: yen)2

Steady Expansion of Customer Base in Core BusinessesThe number of continuing customers as of December 31, 2023 stood at 3,341 thousand, an increase of 41 thousand
from 3,299 thousand at the beginning of the fiscal year.

The earnings base continued to expand in the gas business, the CATV business, the Hikari Collaboration businessand the LIBMO business.

-3

3,341

+20
 Others+3

Aqua
Mobile CATV©2023 TOKAI Holdings Corporation. All Rights Reserved.

+22

 Gas
LP gasCity gas+4
Communications +16
Broadcasting Information andCommunications

3,299

Others

+2
-6
+1

+22
+0

HikariCollaboration

+8

LIBMO

+6
-11

ISP, etc.

Customer count(Thousand)

FY2022
ResultFY2023
3Q Result* Rounded to the nearest thousand. Adjustment is made in Others for duplicate communication
services for ISP and CATV carrier plans.

3

Consolidated Full-year Financial Results ForecastNet sales are forecasted to rise, attributable to a continued increase in customer accounts mainly in principal
businesses and to earnings increase following expansion of areas served.

Operating profit is forecasted to remain unchanged year on year, chiefly reflecting expenses for acquiring customers
and personnel revitalization.

Ordinary profit and profit attributable to owners of parent are expected to surge, after the easing of the burdens arisingfrom the share of profit of entities accounted for using the equity method that arose in the previous fiscal year.
(Millions of yen)

FY2023 forecast(April 1, 2023 toMarch 31, 2024)

FY02022 results(April 1, 2022 toMarch 31, 2023)

YoY
Change% change

240,000

230,190+9,810+4.3%

Operating profit

15,00014,919+81+0.5%

Ordinary profit

15,00013,289+1,711+12.9%

Profit attributable toowners of parent

8,500

6,465

+2,035+31.5%EPS (yen)

65.10

49.41

+15.69+31.8%

3,384,000

3,299,000+84,000+2.6%

Net sales©2023 TOKAI Holdings Corporation. All Rights Reserved.

Customer countat end of fiscal year

4

Dividend Forecast

In accordance with the Company's policy of paying constant and stable dividends, an interim dividend of 16 yen per
share and a year-end dividend of 16 yen per share are planned, for an annual dividend of 32 yen per share.

The dividend forecast (announced on May 9, 2023) remains unchanged.

Interim dividend

Year-end dividend

Commemorative dividend

Payout ratio

60
50

47.2%

46.7%
43.4%

©2023 TOKAI Holdings Corporation. All Rights Reserved.

30

0

12

12

yen/shareyen/share

6

6

44.5%

28

28

28

28

yen/shareyen/shareyen/shareyen/share

6

35.1%

10

60.0%

54.7%

52.9%

40

20

70.0%

64.8%

14
yen/share

14

6

6

6

FY2014FY201514

30
yen/share

16

46.7%

50.0%

32

32

yen/shareyen/share

17

16

32

yen/share 40.0%
1611
FY2016

30.0%
20.0%

11

8

FY2013

14

44.6%

49.2%

14

14

14

14

15

16

16

FY2017FY2018FY2019FY2020

FY2021

FY2022

FY2023(forecast)

10.0%
0.0%

5

Appendix(1) Consolidated results(2) Sales by segment(3) Operating profit by segment(4) Consolidated financial indicators(5) Consolidated cash flows(6) Group customer count©2023 TOKAI Holdings Corporation. All Rights Reserved.

6

（１） Consolidated results(Millions of yen)
Q3 FY03/20
Results

Q3 FY03/21
Results

Q3 FY03/22
Results

Q3 FY03/23
Results

Q3 FY03/24
Results

141,557

139,792

149,420

164,249

164,676

Operatingprofit

9,278

9,901

9,248

8,466

8,797

Recurringprofit

9,478

9,929

9,324

6,705

8,968

Net income

5,103

5,936

4,634

2,816

4,934

E P S ( Ye n )

38.97

45.33

35.38

21.52

37.78

Sales

©2023 TOKAI Holdings Corporation. All Rights Reserved.

7（２）Sales by segment(Millions of yen)
Q3 FY03/20
Results

Q3 FY03/21
Results

Q3 FY03/22
Results

Q3 FY03/23
Results

Q3 FY03/24
Results

Energy55,19153,43758,71771,06969,271

Information andCommunications

38,83437,831

38,206

39,662

41,822
18,220For individuals
For corporations

23,601©2023 TOKAI Holdings Corporation. All Rights Reserved.

ＣＡＴＶ

23,43324,99424,26525,51026,673

Construction,
Equipment and Real
Estate14,91914,81519,025

18,84017,585

Aqua

5,603

5,778

5,811

5,720

5,796

Others

3,575

2,934

3,395

3,446

3,526

141,557

139,792

149,420

164,249

164,676

Total※For information and communications, starting from the second quarter of 2023, figures for individuals and corporations are also displayed.

8

（３）Operating profit by segment(Millions of yen)
Q3 FY03/20
Results

Q3 FY03/21
Results

Q3 FY03/22
Results

Q3 FY03/23
Results

Q3 FY03/24
Results

Energy

3,964

5,034

4,317

3,552

3,754

Information andCommunications

3,366

3,081

3,492

3,563

4,025

For individuals

719

For corporations

3,306©2023 TOKAI Holdings Corporation. All Rights Reserved.

ＣＡＴＶ

3,790

4,102

4,539

4,706

4,655

Construction,
Equipment and Real
Estate

1,242

1,094

1,126

1,195

1,057

Aqua

597

578

287

394

514

Others- 3,682- 3,988- 4,514- 4,947- 5,211

9,278

9,901

9,248

8,466

8,797

Total

※For information and communications, starting from the second quarter of 2023, figures for individuals and corporations are also displayed.

9（４）Consolidated financial indicators(Millions of yen)©2023 TOKAI Holdings Corporation. All Rights Reserved.

Q3 FY03/20
Results

Q3 FY03/21
Results

Q3 FY03/22
Results

Q3 FY03/23
Results

Q3 FY03/24
Results

To t a l a s s e t s

168,697

172,946

181,450

192,091

196,419

To t a lliabilities

102,972

102,104

105,652

113,325

111,519

To t a l n e t
assets65,72470,84175,79778,76584,899Balance ofinterestbearing debt

52,61551,34449,06053,17351,281Equity ratio

38.2 %

40.1 %

40.9 %

39.9 %

42.1 %

10

（５）Consolidated cash flows(Millions of yen)©2023 TOKAI Holdings Corporation. All Rights Reserved.

Q3 FY03/20
Results

Q3 FY03/21
Results

Q3 FY03/22
Results

Q3 FY03/23
Results

Q3 FY03/24
Results

Operating cash flow

15,476

19,402

12,305

10,63817,873

Investment cash flow

- 9,683- 14,672- 11,667- 10,852- 13,567

5,793

4,730

638

- 213

4,305

- 4,779- 3,863

- 945

594

- 3,400

Free cash flow

Financing cash flow

11（６）Group customer count(Thousand)
Q3 FY03/20
Results

Q3 FY03/21
Results

Q3 FY03/22
Results

Q3 FY03/23
Results

Q3 FY03/24
Results

703

737

774

811

842

Conventional ISP
etc.

396

375

382

411

396

HikariCollaboration

324

335

342

362

372

LIBMO

45

52

55

65

77

766

763

779

838

844

CATV

1,088

1,188

1,224

1,255

1,307

Aqua

160

162

166

166

166

Mobile

214

209

195

182

172

Security

16

16

16

16

16

2,933

3,063

3,142

3,258

3,341

EnergyInformation andCommunications

Subtotal©2023 TOKAI Holdings Corporation. All Rights Reserved.

合計*Rounded to the nearest thousand. Communication services overlap between information and communication services and CATV, and are excluded
from the total value.
*Information and communications (conventional ISP, etc.) includes ISP additional service (PC visit support service) contracts from 2Q 2021, andcontracts for the same (PC remote support service) from 2Q 2022.

12

The performance forecasts and forward-looking statements in these materials are
based on information currently available to the company, and include potential risks anduncertainties. Please be aware that due to changes in a variety of factors, actual results
may differ materially from the projections and other forward-looking statements in thesematerials.

Please contact us with any questions regarding these materials.
©2023 TOKAI Holdings Corporation. All Rights Reserved.

Public / Investor Relations Office
TOKAI Holdings Corporation
2-6-8 Tokiwacho, Aoi Ward, Shizuoka City, Shizuoka Prefecture
Phone: +81- (0)54-273-4878
http://tokaiholdings.co.jp/english/
e-mail： overseas_IR@tokaigroup.co.jp

13