Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated
document and the Japanese original, the original shall prevail.

Consolidated Financial Results
for the Three Months Ended June 30, 2024
[Japanese GAAP]
August 7, 2024
Company name:Nitori Holdings Co., Ltd.
Listing:
Tokyo, Sapporo
Securities code: 9843
URL:
https://www.nitorihd.co.jp/
Representative: Toshiyuki Shirai
President and Chief Operating Officer
Inquiries:
Masaomi Zenji
Executive Officer, General Manager, Accounting and Finance Division
Telephone:+81-3-6741-1204
Scheduled date to commence dividend payments:
Preparation of supplementary material on financial results: Yes
Holding of financial results briefing:
Yes (for institutional investors and analysts)(Yen amounts are rounded down to millions, unless otherwise noted.)
1. Consolidated Financial Results for the Three Months Ended June 30, 2024 (April 1, 2024 to June 30, 2024)(1) Consolidated Operating Results(Percentages indicate year-on-year changes.)
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Three months ended
June 30, 2024
232,819
6.6
34,488
4.6
36,044
7.5
24,213
5.7
June 30, 2023
218,504
0.9
32,973(10.7)
33,518(9.3)
22,913(8.1)(Note) Comprehensive income:Three months ended June 30, 2024:¥29,263 million [9.3%]
Three months ended June 30, 2023:¥26,767 million [(18.8) %]Basic earnings
per share
Three months ended
June 30, 2024
June 30, 2023

Diluted earnings pershare
YenYen214.26202.76-(2) Consolidated Financial Position
Total assets
As ofJune 30, 2024
March 31, 2024
(Reference) Equity:

Millions of yen

1,223,939
1,238,679
As of June 30, 2024:
As of March 31, 2024:

Net assets

Capital adequacy ratio

Millions of yen

¥
¥

―1―

917,433
896,308
917,428 million
896,304 million

%

75.0
72.4

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2024

-75.00-72.00147.00Fiscal year ending March 31, 2025

76.00

-76.00152.00Fiscal year ending March 31, 2025
(Forecast)(Note) Revision to the forecast for dividends announced most recently:

Year-end

TotalNo

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2025(April 1, 2024 to March 31, 2025)(Percentages indicate year-on-year changes.)
Profit attributable
Basic earnings
Net sales
Operating profit
Ordinary profit
to owners ofper shareparentMillions of yen% Millions of yen% Millions of yen

Six months ending
456,100
9.4
56,7002.8
September 30, 2024
Full year
960,000
7.2
129,600
1.5(Note) Revision to the financial results forecast announced most recently:* Notes:(1) Significant changes in the scope of consolidation during the period:
Newly included:(Company name:Excluded:(Company name:%Yen

58,5002.8% Millions of yen

40,2005.7

393.76

134,000
No

1.2

92,0006.3

814.07No))(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: Yes(3) Changes in accounting policies, changes in accounting estimates, and restatement
1) Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
2) Changes in accounting policies due to other reasons: No
3) Changes in accounting estimates: No4) Restatement: No(4) Number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
June 30, 2024:
114,443,496 shares
March 31, 2024:
114,443,496 shares
2) Number of treasury shares at the end of the period:
June 30, 2024:
1,431,712 shares
March 31, 2024:
1,431,638 shares
3) Average number of shares outstanding during the period:
Three months ended June 30, 2024:
Three months ended June 30, 2023:

113,011,804 shares
113,011,758 shares* Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public
accountants or an audit firm: Yes(voluntary)*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 theseforecasts by a variety of reasons.

―2―Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets(Millions of yen)
As of March 31, 2024

As of June 30, 2024

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade137,943
79,247

133,826
59,323Merchandise and finished goods
Work in process

101,206
520

98,813679

Raw materials and supplies
Other

6,802
22,018

6,174
17,436

Allowance for doubtful accounts

(2)

(3)

347,736

316,251

Buildings and structures, net
Land255,847
403,228

253,289403,742

Other, net

77,82196,902

Total property, plant and equipment

736,897

753,934

Goodwill
Other

17,06014,101

16,421
14,656

Total intangible assets

31,162

31,077

Investments and other assets
Investment securities

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

Intangible assets

42,43942,638Long-term loans receivable
Guarantee deposits

520
16,646511
16,281

Leasehold deposits
Deferred tax assets

30,982
21,51331,262
21,343

Other
Allowance for doubtful accounts

10,851(72)

10,711(72)

Total investments and other assets

122,882

122,675

Total non-current assets

890,942

907,688

1,238,679

1,223,939

Notes and accounts payable - trade
Short-term borrowings

48,294
107,557

40,441
101,934

Lease obligations
Accounts payable - other

1,895
45,933

1,892
40,788

Income taxes payable
Contract liabilities

20,36629,091

12,202
19,852

Provision for bonuses
Provision for point card certificates

6,604
11

9,823
10

Provision for shareholder benefit program
Other

318
16,264220
13,606

Total current liabilities

276,336

240,772

Total assets
Liabilities
Current liabilities―3―(Millions of yen)
As of March 31, 2024
Non-current liabilities
Long-term borrowings
Lease obligations
Provision for retirement benefits for directors(and other officers)
Retirement benefit liability
Asset retirement obligations
Other
Total non-current liabilities

As of June 30, 2024

30,00030,000

4,519

4,269

145

145

5,558
14,748

5,643
14,728

11,061

10,946

66,03365,734342,370

306,506

Share capital
Capital surplus

13,37030,715

13,37030,715Retained earnings
Treasury shares

841,541(10,113)857,617(10,115)

Total shareholders' equity

875,513891,588

Total liabilities
Net assets
Shareholders' equity

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

4,711

5,164

Foreign currency translation adjustment
Remeasurements of defined benefit plans

15,816262

20,393282

Total accumulated other comprehensive income

20,79025,840Non-controlling interests
Total net assets
Total liabilities and net assets―4―44

896,308

917,433

1,238,679

1,223,939

Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the three months)(Millions of yen)
For the three months
ended June 30, 2023

For the three months
ended June 30, 2024

Net sales
Cost of sales

218,504
107,452

232,819
113,529

Gross profit

111,052

119,290

Selling, general and administrative expenses

78,07884,801

Operating profit

32,973

34,488Non-operating income
Interest income

270

203

Dividend income
Share of profit of entities accounted for using equity
methodForeign exchange gains
Subsidy income

256269-319166
53612
6Vending machine income
Gain on sales of goods

76
71

85
89

Other309

2401,203

1,826Interest expenses
Share of loss of entities accounted for using equity
method
Other

127

149

496-

34120

Total non-operating expenses

658

270

Total non-operating income
Non-operating expenses

Ordinary profit

33,51836,044Extraordinary income
Gain on sale of non-current assets

015

Total extraordinary income

015

Extraordinary losses
Loss on sale and retirement of non-current assets
Impairment losses
Loss on change in equity
Loss on liquidation of subsidiaries and associates
Total extraordinary losses

113327-

367
21-

635

339

1,028

Profit before income taxes

33,18035,032

Income taxes

10,266

10,818

Profit

22,91324,213

Profit attributable to owners of parent

22,91324,213―5―

Quarterly Consolidated Statements of Comprehensive Income (For the three months)(Millions of yen)
For the three months
ended June 30, 2023
ProfitOther comprehensive income

For the three months
ended June 30, 2024

22,91324,213

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

1,373
1,829

453
-

Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax

666
(15)

4,576
19

Total other comprehensive income
Comprehensive income

3,853

5,049

26,76729,263

26,76729,263Comprehensive income attributable toOwners of parent―6―