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, 2022
[Japanese GAAP]
December 23, 2022
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
Executive Officer, General Manager, Accounting and Finance Division
Phone:
03-6741-1204
Scheduled date of filing quarterly securities report:
December 23, 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 (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, 2022 (February 21, 2022 to November 20, 2022)(1) Consolidated Operating Results(% 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, 2022
631,769
4.2
95,047(12.0)
97,564(11.7)
66,535(12.2)
November 20, 2021
606,159
12.2
107,968(8.9)
110,480(7.7)
75,740(1.3)(Note) Comprehensive income:Nine months ended November 20, 2022: ¥74,013 million [(9.3) %]Nine months ended November 20, 2021: ¥81,594 million [7.8%]
Basic earnings
per share
Nine months ended
November 20, 2022
November 20, 2021

Diluted earnings pershare
Yen

Yen

588.88670.90-(2) Consolidated Financial Position
Total assets
Million yen
As ofNovember 20, 2022
1,092,841
February 20, 2022
983,840(Reference) Equity: As of November 20, 2022:
As of February 20, 2022:

Net assets

Capital adequacy ratio

Million yen

792,230
732,813¥792,230 million¥732,813 million

―1―%

72.5
74.5

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen-70.00-70.00140.0074.00

147.00Fiscal year ended February 20, 2022
Fiscal year ending March 31, 2023

Year-endTotal

73.00

Fiscal year ending March 31, 2023
(Forecast)(Note) Revision to the forecast for dividends announced most recently:

No

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023(February 21, 2022 to March 31, 2023)(% indicates changes from the previous corresponding period.)
Profit attributable to Basic earnings
Net sales
Operating profit
Ordinary profitowners of parent
per share%

Million yen%

Million yen%

Yen

Full year
963,600
18.7
150,600
8.9(Note) Revision to the financial results forecast announced most recently:

Million yen%

Million yen

153,000
No

7.9

104,000

7.5

920.26* Notes:(1) Changes in significant subsidiaries during the nine months ended November 20, 2022
(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: 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):
November 20, 2022:
114,443,496 Shares
February 20, 2022:
114,443,496 Shares2) Total number of treasury shares at the end of the period:
November 20, 2022:
1,431,681 Shares
February 20, 2022:
1,521,865 Shares
3) Average number of shares during the period:
Nine months ended November 20, 2022:
Nine months ended November 20, 2021:

112,986,808 Shares
112,894,747 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 20,2022

As of November 20,2022

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade

130,435
39,206132,039
46,795Merchandise and finished goods
Work in process

78,917428

106,688718

Raw materials and supplies
Other6,593
22,794

7,216
23,333

Allowance for doubtful accounts

(8)

(9)

278,367

316,783

Buildings and structures, net
Land185,812339,139

204,345
370,114

Other, net

35,52943,721

Total property, plant and equipment

560,481618,180

Goodwill
Other

22,391
15,724

20,472
15,034

Total intangible assets

38,11635,506

Investments and other assets
Investment securities

Total current assets
Non-current assets
Property, plant and equipment

Intangible assets

26,58539,359Long-term loans receivable
Guarantee deposits

618
18,890581
17,616

Leasehold deposits
Deferred tax assets

28,987
17,49530,00919,755

Other
Allowance for doubtful accounts

14,369(72)

15,121(72)

Total investments and other assets

106,875

122,370

Total non-current assets

705,472

776,058

983,840

1,092,841

Notes and accounts payable - trade
Short-term borrowings

39,76535,06842,558104,068

Lease obligations
Accounts payable - other

1,663
28,594

1,758
30,336

Income taxes payable
Contract liabilities

20,330-11,31017,539Provision for bonuses
Provision for point card certificates

4,482
3,113

8,387
12428
-

203
240

Other

29,735

14,211

Total current liabilities

163,181

230,627

Total assets
Liabilities
Current liabilities

Provision for shareholder benefit program
Provision for loss on business liquidation―3―(Million yen)
As of February 20,2022
Non-current liabilities
Long-term borrowings

As of November 20,2022

50,39832,864

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

5,605

5,285

228

228

5,741

5,906

Asset retirement obligations
Other15,256
10,614

14,748
10,949Total non-current liabilities

87,84569,983251,027

300,611

Shareholders' equity
Share capital

13,37013,370Capital surplus
Retained earnings

26,814
692,768

26,814
743,149

Total liabilities
Net assets

Treasury shares(7,771)(6,213)

Total shareholders' equity

725,181

777,121

1,227

1,788

Deferred gains or losses on hedges
Foreign currency translation adjustment

6,591(4,769)18,199Remeasurements of defined benefit plans

(187)

(109)

Accumulated other comprehensive income
Valuation difference on available-for-sale securities

Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

7,631

15,108732,813792,230

983,840

1,092,841

Quarterly Consolidated Statements of Income and Comprehensive Income―4―

Quarterly Consolidated Statements of Income (For the nine months)(Million yen)
For the nine months
ended November 20,2021

For the nine months
ended November 20,2022

Net sales
Cost of sales

606,159
286,103631,769
309,800

Gross profit

320,056

321,969

Selling, general and administrative expenses

212,087

226,921

Operating profit

107,968

95,047

333

401

37

40

949

471

605

793
201

Vending machine income
Gain on sales of goods

283
140

256
205

Other757

682

3,108

3,052

Interest expenses
Foreign exchange losses

28959279-Other247

256

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

Total non-operating income
Non-operating expenses

Total non-operating expenses

596

535

110,480

97,564Extraordinary income
Gain on sale of non-current assets

300

15

Total extraordinary income

300

15

Ordinary profit

Extraordinary losses
Loss on sale and retirement of non-current assetsImpairment losses
Loss on change in equity

52829427706
30

Provision for loss on business liquidation

-212

327

977

Profit before income taxes

110,454

96,602

Income taxes

34,71330,066

Profit75,74066,535

Profit attributable to owners of parent

75,74066,535

Total extraordinary losses

Quarterly Consolidated Statements of Comprehensive Income (For the nine months)―5―(Million yen)
For the nine months
ended November 20,2021
ProfitOther comprehensive income

For the nine months
ended November 20,2022

75,74066,535

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

461-560(4,769)Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax

5,372
19

11,607
77

Total other comprehensive income
Comprehensive income

5,853

7,477

81,59474,01381,59474,013Comprehensive income attributable toOwners of parent―6―