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.

Consolidated Financial Results
for the Nine Months Ended November 20, 2021
[Japanese GAAP]
December 24, 2021
Company name:
Nitori Holdings Co., Ltd.
Stock exchange listing: Tokyo,Sapporo
Code number:
9843
URL:
https://www.nitorihd.co.jp/
Representative:
Toshiyuki Shirai
President and Chief Operating Officer
Contact:
Masaomi Zenji
General Manager,Accounting and Finance Division
Phone:
03-6741-1204
Scheduled date of filing quarterly securities report:
December 24, 2021
Scheduled date of commencing dividend payments:
Availability of supplementary briefing material on quarterly financial results: Yes
Schedule of quarterly financial results briefing session:
Yes (for institutional investors and analysts)(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Nine Months Ended November 20, 2021 (February 21, 2021 to November 20, 2021)(1) Consolidated Operating Results (Cumulative)(% indicates changes from the previous corresponding period.)
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Million yen%
Million yen%
Million yen%
Million yen%
Nine months ended
November 20, 2021
606,159
12.2
107,968(8.9)
110,480(7.7)
75,740(1.3)
November 20, 2020
540,14612.2
118,54440.3
119,684
39.1
76,723
33.4(Note) Comprehensive income:Nine months ended November 20, 2021: ¥81,594 million [7.8%]
Nine months ended November 20, 2020: ¥75,701 million [33.6%]
Basic earnings
per share
Nine months ended
November 20, 2021
November 20, 2020

Diluted earnings pershare
Yen

Yen

670.90680.66680.27(2) Consolidated Financial Position
Total assets
Million yen
As ofNovember 20, 2021
969,466
February 20, 2021
936,683(Reference) Equity: As of November 20, 2021:
As of February 20, 2021:

Net assets

Capital adequacy ratio

Million yen

709,412642,096¥
709,412 million¥642,096 million

―1―%

73.2
68.5

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-endYen

Yen

Yen

Yen

Yen

Fiscal year ended February 20, 2021

-

57.00

-

66.00

123.00Fiscal year ending February 20, 2022

-70.0070.00

140.00Year-end

Fiscal year ending February 20, 2022
(Forecast)(Note) Revision to the forecast for dividends announced most recently:

Total

No

3. Consolidated Financial Results Forecast for the Fiscal Year Ending February 20, 2022(February 21, 2021 to February 20, 2022)(% indicates changes from the previous corresponding period.)
Profit attributable to Basic earnings
Net sales
Operating profit
Ordinary profit
owners of parentper share%

Million yen%

Million yen%

Yen

Full year
873,600
21.9
143,900
4.5(Note) Revision to the financial results forecast announced most recently:

Million yen%

Million yen

146,400
No

5.898,600

7.0873.17* Notes:(1) Changes in significant subsidiaries during the nine months ended November 20, 2021
(changes in specified subsidiaries resulting in changes in scope of consolidation):
NoNew(Company name:(Company name:
Exclusion:(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:))
Yes(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: No
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):
November 20, 2021:
114,443,496 shares
February 20, 2021:
114,443,496 shares2) Total number of treasury shares at the end of the period:
November 20, 2021:
1,521,785 shares
February 20, 2021:
1,619,063 shares
3) Average number of shares during the period:
Nine months ended November 20, 2021:
Nine months ended November 20, 2020:

112,894,747 shares
112,719,731 shares*Quarterly financial results reports are not required to be subjected to quarterly reviews.
*Explanation for appropriate use of financial forecasts and other special notes
The forecasts given in this document are based on the current available information in the company and certain reasonableassumptions to the company. And we don’t commit to achieve these forecasting numbers. Actual results may differ from these
forecasts by a variety of reasons.

―2―Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets(Million yen)
As of February 20,2021

As of November 20,2021

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade158,577
37,806

182,881
41,845

Securities
Merchandise and finished goods

7,791
76,13372,283Work in process
Raw materials and supplies

200
4,403

345
5,343

OtherAllowance for doubtful accounts

17,843(5)

22,941(4)

Total current assets

302,750

325,637

Non-current assets
Property, plant and equipment
Buildings and structures, net

182,503179,165

Land
Other, net

271,61328,377285,30930,979Total property, plant and equipment

482,494

495,454

25,59023,031

Other

17,08316,094

Total intangible assets

42,67339,125Investment securities
Long-term loans receivable

25,727665

26,365631

Guarantee deposits
Leasehold deposits

19,85828,945

18,57029,390

Deferred tax assets
Other

18,63914,99919,254
15,109Allowance for doubtful accounts

(72)

(72)

Total investments and other assets

108,765

109,248

633,933

643,829

936,683

969,466

Intangible assets
Goodwill

Investments and other assets

Total non-current assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable - trade44,55439,511

Short-term borrowings
Lease obligations

48,715
1,570

35,068
1,472

Accounts payable - other
Income taxes payable

82,60730,351

23,914
12,150

Provision for bonuses
Provision for point card certificates

5,120
2,669

7,120
4,127

Provision for shareholder benefit programOther

463
39,388141
32,695

Total current liabilities

255,440

156,202―3―

(Million yen)
As of February 20,2021
Non-current liabilities
Long-term borrowings

As of November 20,2021

2,000

66,932

Lease obligations
Provision for retirement benefits for directors (andother officers)
Retirement benefit liability

5,875

5,810

228

228

5,186

5,535

Asset retirement obligations
Other

14,91010,945

14,775
10,568

Total non-current liabilities

39,146

103,850

294,587

260,053

Shareholders' equity
Share capital

13,37013,370Capital surplus
Retained earnings

26,255612,082

26,814
671,784

Total liabilities
Net assets

Treasury shares(8,971)(7,770)Total shareholders' equity

642,737

704,199

Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Foreign currency translation adjustment

690

1,151

(1,122)

4,249

Remeasurements of defined benefit plans

(208)

(188)

Total accumulated other comprehensive income

(640)

5,212

642,096

709,412936,683

969,466

Total net assets
Total liabilities and net assets―4―Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the nine months)(Million yen)
For the nine months
ended November 20,2020

For the nine months
ended November 20,2021

Net sales
Cost of sales

540,146
231,481606,159
286,103

Gross profit

308,665

320,056

Selling, general and administrative expenses

190,120

212,087

Operating profit

118,544

107,968

386

333

2837

185

949

55
172

605

Penalty income
Vending machine income

169
193

283

Gain on sales of goods
Other140
343

140
757

1,675

3,108

219

289

316

59
247

Non-operating income
Interest incomeDividend income
Share of profit of entities accounted for using equity
methodForeign exchange gains
Subsidy income

Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
Other
Total non-operating expenses

535

596

119,684

110,480

Gain on sales of non-current assets
Gain on reversal of share acquisition rights

512300-Gain on cancellation of leasehold contracts

394-

Total extraordinary income

412300208,102

5294

3827

Ordinary profit
Extraordinary income

Extraordinary losses
Loss on sales and retirement of non-current assets
Impairment loss
Loss on change in equity

8,160

327

Profit before income taxes

Total extraordinary losses

111,936

110,454

Income taxes

35,21334,713

Profit

76,72375,740

Profit attributable to owners of parent

76,72375,740―5―

Quarterly Consolidated Statements of Comprehensive Income (For the nine months)(Million yen)
For the nine months
ended November 20,2020
ProfitOther comprehensive income

For the nine months
ended November 20,2021

76,72375,740

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

(95)
58

461-

Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax(1,018)
33

5,372
19

Total other comprehensive income
Comprehensive income(1,022)

5,853

75,701

81,59475,701

81,594Comprehensive income attributable toOwners of parent―6―