July 28, 2022
To whom it may concern
Company Name:
Representative Name:

Contact:TEL:

TOKAI Holdings Corporation
Katsuhiko Tokita,President & CEO(Code No. 3167, TSE Prime Market)
Yoshihiro Taniguchi, Public Relations
and Investor Relations Office+81-(0)3-5404-2891

Financial Results for the First Three Months of the Fiscal Year Ending March 31, 2023
Achieved a Q1 sales hike and a record high for the second consecutive year, Q1 operating profit risefor the first time in two years and higher results than internally projected
TOKAI Holdings Corporation (hereinafter, "the Company") today announced its financial results for the first
three months of the fiscal year ending March 31, 2023.

1. The Company continued to expand its earnings base to achieve a net annual increase of
100,000 in customer count.
The Company announced the fourth Medium-Term Management Plan, Innovation Plan 2024 “Design theFuture Life” ("IP24”*1) in May last year. The plan covers the period up to the fiscal year ending March 31, 2025.
A key strategy in IP24 is "LNG strategy." The Company will expand its business areas at the Local level(expansion of share in existing areas), at the National level (expansion of new business areas in Japan), and at theGlobal level (business development overseas) and will achieve growth in the number of customers throughselection and concentration, focusing on profitability.
To achieve 3.56 million customers at the end of the fiscal year ending March 31, 2025, the Company will
pursue an aggressive strategy to expand its earnings base, aiming to achieve 3.30 million customers (a net annual
increase of 100,000 in customer count) at the end of the fiscal year under review.
In operating activities in the first three months of the fiscal year under review, the Company aggressively
conducted sales activities to gain customers while thoroughly taking measures to prevent COVID-19 infections
and recorded 3,213,000 continuing customers as of June 30, 2022. This continuing customer exceeded thecount at the beginning of the fiscal year (3,194,000) by 19,227 (versus an increase of 9,488 in the same
period of the previous fiscal year).
With net increase of 6,635 (LP and city) gas customers (7,514 in the same period of the previous fiscalyear), 8,161 CATV customers (8,270), 4,552 Hikari Collaboration customers (126) and 3,151 LIMBO(MVNO service) customers (112), we further expanded our earnings base.

2. Q1 net sales grew for the second consecutive year to achieve new record high, with Q1
operating profit rising for the first time in two years
For the first quarter under review, net sales stood at 51.8 billion yen, up 3.4 billion yen or 7.0% year onyear. The figure rose for the second consecutive year to set a new record high. This resulted chiefly fromsales growth following an increase in energy, CATV and other customers, rises in selling prices linked with energy
purchase prices, and expansion of the stock business for corporate clients in the Information and Communication
business.
Operating profit reached 3.4 billion yen, up 0.1 billion yen or 4.0% year on year, marking an increase
for the first time in two years. The impact of the LP gas purchase prices that were far higher than the levels inthe same period a year earlier was offset mainly by profit growth after an increase in the number of monthly feepaying customers that accompanied a higher customer count and a profit hike in the Information andCommunication business for corporate clients.
Net sales and all profit figures ended higher than their respective internally projected levels.

(Millions of yen)

Net sales
Operating profit
Ordinary profit
Profit attributable to ownersof parent
EPS (yen)

Q1 FY03/23
results

Q1 FY03/22
results(April 1, 2022 to June 30, 2022)(April 1, 2021 to June 30, 2021)

51,803
3,355
3,389
1,795

48,396
3,226
3,353
1,870

Change+3,407+128+35-74% change+7.0%+4.0%+1.1%-4.0%

13.72

14.28

-0.56

-3.9%

YoY

3. To Achieve the Medium-Term Management Plan, IP24 “Design the Future Life”
With its Corporate Philosophy “For customers’ livelihood along with the region, together with the earth, wewill continue to grow and develop” as an unchanging value, the Group will adapt to changes in customers’
lifestyles and changes in society and the environment and, while supporting and staying close to customers, aims
to evolve into a “Life Design Group” that designs and provides the new lifestyles of the future. To this end, weare working on the fourth Medium-Term Management Plan “IP24.”
The fiscal year ending March 31, 2023 is the second fiscal year under the IP24. The Company made steadyprogress in its efforts to achieve the goals described in the five key messages in IP24: (i) Implementation of LNG
strategy, (ii) Evolution of TLC*2 concept, (iii) Stepping up of DX strategy, (iv) Optimal allocation of management
resources, and (v) Strengthening of SDG initiatives.
To date, the earnings and dividend forecasts for the fiscal year ending March 31, 2023 remain unchanged fromthose announced on May 10, 2022.
(Millions of yen)
FY03/23 forecast
FY03/22 results
YoY(April 1, 2022 to March 31,2023)

Net sales
Operating profit
Ordinary profit
Profit attributable toowners of parent
EPS (yen)
Customer count at end of
fiscal year

Interim (end of Q2)
Year-end
Annual dividend per share(April 1, 2021 to March 31,2022)

223,000
14,50014,3008,300

210,691
15,794
15,907
8,969

Change+12,309-1,294-1,607-669% change
+5.8%
-8.2%
-10.1%-7.5%

63.43
3,295,000

68.49
3,194,000-5.06+101,000

-7.5%
+3.2%

FY03/23(forecast)
16.00 yen
16.00 yen
32.00 yen

FY03/2215.00 yen
17.00 yen
32.00 yen

FY03/2114.00 yen
16.00 yen
30.00 yen

For details, please see the attached materials, entitled “Financial Results for the First Three Months of the Fiscal Year Ending
March 31, 2023.”
For the Company's earnings announcement for the first three months of the fiscal year ending March 31, 2023, please see thefollowing URL:
https://www.tokaiholdings.co.jp/english/ir/library/earnings.html*1 For the details of the fourth Medium-Term Management Plan “IP24,” please see the following URL:
https://www.tokaiholdings.co.jp/english/ir/management/manageplan.html*2 TLC (Total Life Concierge) concept: The Group will provide a comprehensive range of carefully tailored services to help
customers live more comfortable lives and aim to improve customer satisfaction.

Financial Results for the First Quarter of theFiscal Year Ending March 31, 2023
TOKAI Holdings Corporation(Code: 3167)
July 28, 2022

Expansion of earnings base proceeds◎ The number of continuing customers as of June 30, 2022 stood at 3,213 thousand, an increase of 19
thousand from 3,194 thousand at the beginning of the fiscal year.
◎ The earnings base continued to expand in the gas business, the CATV business, the HikariCollaboration business and the LIMBO business.
Gas (LP and city)(Thousand)+88+5CATV
9+779187840
820+8+7Hikari Collaboration+81,240

800

+56
1,280
4+3351

2
1,230

6 780

LIBMO

365
3+3+22355

58

1+04
5 760

0345
04 740-2
1,180-1335

3 720-4+0-22752

2 700 1,16718
1 680
1Q1 FY03/2021(Two yearsearlier)Q1 FY03/2022(Previous fiscalyear)

Q1 FY03/2023(Current fiscalyear)

Number at end of period* Rounded to the nearest thousand

1,206-3325
1,130-6-8

0 660

Net increase

-4315

328

1

Q1 FY03/2021(Two yearsearlier)337

Q1 FY03/2022(Previous fiscalyear)

Number at end of period

Q1 FY03/2023(Current fiscalyear)

-5

1,080
-10

Net increase

5350

Q1 FY03/2021(Two yearsearlier)Q1 FY03/2022(Previous fiscalyear)

Number at end of period

Q1 FY03/2023(Current fiscalyear)-6305

Net increase

Q1 FY03/2021
Q1 FY03/2022(Two years earlier) (Previous fiscalyear)

Number at end of period

Q1 FY03/2023(Current fiscalyear)

Net increase1

Q1 net sales grow for the second
consecutive year to set new record high
◎ Q1 net sales rose for the second fiscal year and set a new record high, resulting chiefly from anincrease in customers, rises in selling prices linked with energy purchase prices, and expansion of theInformation and Communication business for corporate clients.
◎ Q1 operating profit increased for the first time in two years. The impact of soaring LP gas purchaseprices was offset mainly by profit growth after an increase in the number of monthly fee-paying
customers that accompanied a higher customer count and a profit hike in the Information andCommunication business for corporate clients.
(Millions of yen)

Q1 FY03/23
results

Q1 FY03/22
results(April 1, 2022 –June 30, 2022)(April 1, 2021 –June 30, 2021)

YoY
Change% change

Net sales

51,803

48,396+3,407+7.0%

Operating profit

3,355

3,226+128+4.0%

Ordinary profit

3,3893,353+35+1.1%

Profit attributable toowners of parent

1,795

1,870-74-4.0%

EPS (yen)

13.72

14.28

-0.56

-3.9%

2

Consolidated full-year financial results forecast
 Net sales are forecast to increase 12.3 billion yen, or 5.8% year on year, to reach a new record high for the fifth
consecutive fiscal year. This is chiefly attributable to growth in customer numbers and increases in orders received
from corporate clients in the Information and Communications business and in the Construction, Equipment and Real
Estate business.
 Operating profit is expected to fall 1.3 billion yen year on year, taking into account an impact of 5.1 billion yen fromrising LP gas purchase prices.
 The LP gas business will continue to drive the active attraction of customers on the basis of pricing measures that will
maintain price competitiveness.
 The number of customers in the overall Group will rise 100,000 from 3.19 million at the end of the previous fiscal year,to 3.30 million.
(100 millions of yen)

FY03/23
forecast

FY03/22
results(FY2022)(FY2021)

YoYChangePlan IP24% change(%)

From Plan IP24
% change(%)

Change(FY2022)

Net sales

2,230

2,107+123+5.8

2,210+20+0.9

Operating profit

145

158-13-8.2

156-11-7.1

Ordinary profit

143

159-16-10.1

‒

‒

‒

Profit attributableto owners of parent

83

90-7-7.5

90-7-7.83.30 million 3.19 million +0.1 million+3.2

3.32 million -0.02 million-0.6

Customer count at
end of fiscal year3

Dividend forecast◎ Annual dividend per share is projected to stay unchanged at 32 yen per share from the previous
fiscal year.
◎ The dividend forecast (announced on May 10, 2022) remains unchanged.

54.7%

52.9%

5047.2%46.7%

4550.5%
44.5%

43.4%
4044.6%

46.7%

50.0%

40.2%

30

35

30

35.1%

28

28

28

28

yen/shareyen/shareyen/shareyen/shareyen/share

32

32

40.0%

yen/share yen/share
30.0%

625

20

15

10

1412

12

12yen/shareyen/shareyen/share

6668

6

6

6

6yen/share

514

14

14

16

16

17

20.0%

1114

11

14

14

14

16

15

0

10.0%

0.0%

FY2012FY2013

FY2014

Interim dividend

FY2015FY2016FY2017Year-end dividend

FY2018FY2019FY2020

Commemorative dividend

FY2021

FY2022(forecast)

Payout ratio

4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(1) Consolidated results(Millions of yen)

Q1 FY2018
Results

Q1 FY2019
Results

Q1 FY2020
Results

Q1 FY2021
Results

Q1 FY2022
Results

44,55345,804

45,113

48,39651,803Operating profit

2,390

3,231

3,783

3,226

3,355

Recurring profit

2,487

3,351

3,830

3,353

3,389

Quarterly netincome

1,432

2,239

2,445

1,870

1,795

EPS (Yen)

10.94

17.10

18.68

14.28

13.72

Sales

7

(2) Sales by segment(Millions of yen)

Q1 FY2018
Results

Q1 FY2019
Results

Q1 FY2020
Results

Q1 FY2021
Results

Q1 FY2022
Results

Energy17,60818,577

17,63418,99823,274

Information andCommunications

12,513

12,795

12,65012,61912,873

CATV

7,511

7,738

8,226

7,996

8,239

Construction, Equipment,
and Real Estate

4,166

3,777

3,819

5,542

4,641

Aqua

1,653

1,798

1,896

1,921

1,860

Others

1,100

1,116

8851,319

915

44,55345,804

45,113

48,39651,803Total

8(3) Operating profit by segment
EnergyInformation andCommunications
CATV
Construction, Equipment,and Real Estate
Aqua
Others, adjustments
Total(Millions of yen)

Q1 FY2018
Results

Q1 FY2019
Results

Q1 FY2020
Results

Q1 FY2021
Results

Q1 FY2022
Results

1,182

1,489

1,972

1,578

1,936

724

1,217

1,110

1,224

1,236

1,194

1,286

1,367

1,459

1,559

213

213

233

263

53

96

169

271

37

62

-1,022-1,145-1,171-1,337-1,494

2,390

3,231

3,783

3,226

3,355*Prior to elimination of indirect expenses

9(4) Consolidated financial indicators(Millions of yen)

Q1 FY2018
Results

Q1 FY2019
Results

Q1 FY2020
Results

Q1 FY2021
Results

Q1 FY2022
Results

Total assets

162,694

163,992

168,253

176,837

183,065

Total liabilities

101,736

99,884

100,025

101,165

103,809

Total net assets

60,957

64,107

68,22875,672

79,256

Balance of interestbearing debt

52,60450,207

48,12743,42845,452

EBITDA

6,032

7,024

7,724

7,220

7,331

Equity ratio

36.8 %

38.3 %

39.7 %

41.9 %

42.3 %10(5) Consolidated cash flows(Millions of yen)

Q1 FY2018
Results

Q1 FY2019
Results

Q1 FY2020
Results

Q1 FY2021
Results

Q1 FY2022
Results

Operating cash flow

4,348

6,245

10,837

8,339

6,049

Investment cashflow-3,484-3,227-7,579-5,716-4,262

Free cash flow

864

3,017

3,257

2,623

1,786

Financing cash flow

-1,159-3,210-3,022-2,282-2,067

11

(6) Group customer count(Millions of yen)

Q1 FY2018
Results

Q1 FY2019
Results

Q1 FY2020
Results

Q1 FY2021
Results

Q1 FY2022
Results

664687718

752

791

Previous ISP
model, etc.

451

411

383

391

413

HikariCollaboration

327

326

328

337

351

32

42

50

53

58

810

778

760

781

823

CATV

1,039

1,069

1,161

1,206

1,240

Aqua

151

157

159

164

166

Mobile

225

214

211

201

187

Security

17

17

16

16

16

2,883

2,907

3,012

3,108

3,213
12

Gas (LP and City Gas)
Information andCommunications

LIBMO
Subtotal

Total*The number of customers under a thousand are rounded to the nearest thousand. Information and Communications andCATV both offer communications services, and so their numbers are excluded from total figures.

（７） EBITDA by business(Millions of yen)

EnergyInformation andCommuni
cationsFor
individualFor
corporate

Q1 FY2018
Results

Q1 FY2019
Results

Q1 FY2020
Results

Q1 FY2021
Results

Q1 FY2022
Results

2,319

2,678

3,138

2,768

3,168

361

434

232

1,616

1,677

1,807

1,409

2,010

2,646

2,700

2,861

2,883

3,001

Construction, Equipment
and Real Estate

397

401

430

519

310

Aqua

225

314

427

209

230

6,032

7,024

7,724

7,220

7,331

CATV

EBITDA （All）* EBITDA = operating profit + depreciation (operating profit is before allocation of indirect costs, etc.)* Information and communication has been divided into those for individuals and those for corporations from the previous term. Before that, the numerical value of theentire information and communication is displayed.

13

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.
Investor Relations Office
TOKAI Holdings Corporation
Hamarikyu InterCity 11th floor, Kaigan 1-9-2, Minato-Ku, Tokyo, 105-0022, Japan
Phone: +81- (0)3-5404-2891
Fax: +81- (0)3-5404-2786
http://tokaiholdings.co.jp/english/
e-mail： overseas_IR@tokaigroup.co.jp