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 Six Months Ended August 20, 2021
[Japanese GAAP]
September 30, 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:
October 01, 2021
Scheduled date of commencing dividend payments:
October 19, 2021
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 Six Months Ended August 20, 2021 (February 21, 2021 to August 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%
Six months ended
August 20, 2021
414,563
14.4
77,515(3.8)
79,078(2.5)
53,891
8.3
August 20, 2020
362,48112.7
80,59645.0
81,06743.4
49,76435.1(Note) Comprehensive income:Six months ended August 20, 2021:¥58,705 million [16.1%]
Six months ended August 20, 2020:¥50,544 million [43.7%]
Basic earningsper share
Six months ended
August 20, 2021
August 20, 2020

Diluted earnings pershare
Yen

Yen

477.42441.70441.31(2) Consolidated Financial Position
Total assets
As ofAugust 20, 2021
February 20, 2021
(Reference) Equity:

Net assets

Million yen

959,174
936,683
As of August 20, 2021:
As of February 20, 2021:

Capital adequacy ratio

Million yen¥¥

694,430
642,096
694,430 million
642,096 million

―1―%

72.4
68.5

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Fiscal year ended February 20, 2021

-

57.00

Fiscal year ending February 20, 2022

-70.00Fiscal year ending February 20, 2022

Year-end-(Forecast)(Note) Revision to the forecast for dividends announced most recently:

TotalYen

Yen

66.00

123.0070.00

140.00No

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 parent
per share%

Million yen%

Million yen%

Yen

Full year
873,600
21.9
143,9004.5(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 six months ended August 20, 2021
(changes in specified subsidiaries resulting in changes in scope of consolidation):
New(Company name:(Company name:
Exclusion:-No(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):
August 20, 2021:
114,443,496 shares
February 20, 2021:
114,443,496 shares2) Total number of treasury shares at the end of the period:
August 20, 2021:
1,521,705 shares
February 20, 2021:
1,619,063 shares
3) Average number of shares during the period:
Six months ended August 20, 2021:
Six months ended August 20, 2020:

112,881,235 shares
112,667,430 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 August 20,2021

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

187,916
38,388

Securities
Merchandise and finished goods

7,791
76,133

68,299Work in process
Raw materials and supplies

200
4,403

273
4,252

OtherAllowance for doubtful accounts

17,843(5)

20,154(4)

Total current assets

302,750319,280

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

182,503178,817

Land
Other, net

271,61328,377

282,840
29,132

Total property, plant and equipment

482,494

490,790

25,59023,670Other

17,083

16,479Total intangible assets

42,67340,150Investment securities
Long-term loans receivable

25,727665

25,947642

Guarantee deposits
Leasehold deposits

19,85828,94519,00829,181

Deferred tax assets
Other

18,63914,99919,065
15,181

Allowance for doubtful accounts

(72)

(72)

Total investments and other assets

108,765

108,953

633,933

639,894

936,683

959,174

Intangible assets
Goodwill

Investments and other assets

Total non-current assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable - trade44,55438,760

Short-term borrowings
Lease obligations

48,715
1,570

35,7791,593

Accounts payable - other
Income taxes payable

82,60730,351

21,67925,793

Provision for bonuses
Provision for point card certificates

5,120
2,669

5,160
3,716

Provision for shareholder benefit program
Other463
39,388208
27,238

Total current liabilities

255,440

159,928―3―

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

As of August 20,2021

2,000

67,932

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

5,875

5,951

228

228

5,186

5,398

Asset retirement obligations
Other14,910
10,945

14,682
10,622

Total non-current liabilities

39,146

104,815

294,587

264,744

Shareholders' equity
Share capital

13,37013,370Capital surplus
Retained earnings

26,255612,082

26,814
657,840

Total liabilities
Net assets

Treasury shares(8,971)(7,768)

Total shareholders' equity

642,737

690,257

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

690

1,185

(1,122)

3,170

Remeasurements of defined benefit plans

(208)

(183)

Total accumulated other comprehensive income

(640)

4,173

642,096

694,430

936,683

959,174

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

For the six months
ended August 20,2021

Net sales
Cost of sales

362,481
157,124

414,563
194,963

Gross profit

205,356

219,599

Selling, general and administrative expenses

124,760

142,084

Operating profit

80,596

77,515

259

199

2837

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

-481

75
158

60
367

Penalty income
Vending machine income

149
122

185

Gain on sales of goods
Other95215102485

1,105

1,921

148

190

183-302

168

Total non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity
methodOther
Total non-operating expenses

634

358

81,067

79,078Gain on sales of non-current assets
Gain on reversal of share acquisition rights

0129-

Gain on cancellation of leasehold contracts

395-

Total extraordinary income

408

927,804

2100

Ordinary profit
Extraordinary income

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

20

25

Total extraordinary losses

7,827

128

Profit before income taxes

73,647

78,959

Income taxes

23,88325,067

Profit49,76453,891

Profit attributable to owners of parent

49,76453,891―5―

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

For the six months
ended August 20,2021

49,76453,891

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

(256)
1,719

495
-

Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax(705)
224,29325

Total other comprehensive income
Comprehensive income

779

4,814

50,54458,70550,54458,705Comprehensive income attributable toOwners of parent―6―