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, 2020
[Japanese GAAP]
December 25, 2020
Nitori Holdings Co., Ltd.
Company name:
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 28, 2020
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, 2020 (February 21, 2020 to November 20, 2020)(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, 2020
540,14612.2
118,54440.3
119,684
39.1
76,723
33.4
November 20, 2019
481,498
7.3
84,472
8.3
86,0438.0
57,507
10.5
Nine months ended November 20, 2020: ¥
75,701 million [33.6%](Note) Comprehensive income:Nine months ended November 20, 2019: ¥56,644 million [9.3%]
Basic earnings
per share
Nine months ended
November 20, 2020
November 20, 2019

Diluted earnings pershareYen

Yen

680.66511.93680.27510.77(2) Consolidated Financial Position
Total assets
Million yen
As ofNovember 20, 2020
758,874
February 20, 2020
683,247(Reference) Equity: As of November 20, 2020:
As of February 20, 2020:

Net assets

Capital adequacy ratio

Million yen

626,851
560,861¥626,851 million¥
560,571 million

―1―%

82.6
82.0

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

54.00108.00

58.00

115.00Year-end

Fiscal year ended February 20, 2020

-

54.00

-

Fiscal year ending February 20, 2021

-57.00-Fiscal year ending February 20, 2021
(Forecast)

TotalNo(Note) Revision to the forecast for dividends announced most recently:

3. Consolidated Financial Results Forecast for the Fiscal Year Ending February 20, 2021(February 21, 2020 to February 20, 2021)(% 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
702,600
9.4
132,900
23.7(Note) Revision to the financial results forecast announced most recently:

Million yen%

Million yen

134,100
No

22.4

85,30019.5756.05* Notes:(1) Changes in significant subsidiaries during the nine months ended November 20, 2020No(changes in specified subsidiaries resulting in changes in scope of consolidation):
New(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, 2020:
114,443,496 shares
February 20, 2020:
114,443,496 shares2) Total number of treasury shares at the end of the period:
November 20, 2020:
1,619,703 shares
February 20, 2020:
1,975,782 shares
3) Average number of shares during the period:
Nine months ended November 20, 2020:
Nine months ended November 20, 2019:112,719,731 shares
112,335,231 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 20,2020

As of November 20,2020

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade159,190
27,880240,097
37,621

Merchandise and finished goods
Work in process

61,203
182

52,386166

Raw materials and supplies
Forward exchange contracts

4,127-3,16884

OtherAllowance for doubtful accounts

11,010(4)

13,241(3)

Total current assets263,589

346,762

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

111,548

108,507Land
Other, net

173,010
22,827174,077
24,588

Total property, plant and equipment

307,387

307,173

24,59917,106

Investment securities
Long-term loans receivable

25,535732

25,182
678

Guarantee deposits
Leasehold deposits

13,98723,756

13,82024,589Deferred tax assets
Other

13,246
10,42913,041
10,520Intangible assets
Investments and other assets

Allowance for doubtful accounts

(18)

(0)

Total investments and other assets

87,67087,832

Total non-current assets

419,657

412,112683,247

758,874

19,77418,500

Short-term borrowings
Lease obligations

2,787
1,554

2,718
1,345

Accounts payable - other
Income taxes payable

22,923
20,224

20,222
21,712

Provision for bonuses
Provision for point card certificates

4,020
2,076

8,192
3,984

Provision for shareholder benefit program
Other

282
23,420158
31,703

Total current liabilities

97,063

108,538

Total assets
Liabilities
Current liabilities
Notes and accounts payable - trade―3―

(Million yen)
As of February 20,2020Non-current liabilities
Long-term borrowings

As of November 20,2020

4,000

2,000

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

6,714

5,326

228

228

1,343

1,569

Asset retirement obligations
Other

5,673
7,361

7,303
7,056

Total non-current liabilities

25,322

23,485

122,385132,023

Shareholders' equity
Share capital

13,37013,370Capital surplus
Retained earnings

25,074532,471

26,253596,691

Total liabilities
Net assets

Treasury shares(10,875)(8,971)

Total shareholders' equity

560,042

627,344

Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains on hedges

750654-58

Foreign currency translation adjustment
Remeasurements of defined benefit plans

161
(382)

(857)
(348)

Total accumulated other comprehensive income

529

(492)

289

-

560,861

626,851

683,247

758,874

Share acquisition rights
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 20,2019

For the nine months
ended November 20,2020

Net sales
Cost of sales

481,498
217,795

540,146
231,481

Gross profit

263,702308,665

Selling, general and administrative expenses

179,230

190,120

Operating profit

84,472

118,544

Interest income
Dividends income
Share of profit of entities accounted for using equity
methodForeign exchange gains

339
28

386
28

517

185

-55

Subsidy income
Penalty income

133-172
169

Vending machine income
Gain on sales of goods

185286

193140

Non-operating incomeOther

434

343

1,924

1,675

Interest expenses
Foreign exchange losses

215
37219-

Other

100

316

Total non-operating expenses

353

535

Total non-operating income
Non-operating expenses

Ordinary profit

86,043

119,684

Extraordinary income
Gain on cancellation of leasehold contracts-394

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

314
25
12

Total extraordinary income

317

412

50
1,222

208,102

Loss on change in equity
Compensation for damage

120
85

38-

Provision for loss on cancellation

635-

Extraordinary lossesLoss on sales and retirement of non-current assets
Impairment loss

2,114

8,160

Profit before income taxes

Total extraordinary losses

84,246111,936

Income taxes

26,73835,213

Profit57,50776,723

Profit attributable to owners of parent

57,50776,723―5―

Quarterly Consolidated Statements of Comprehensive Income (For the nine months)(Million yen)
For the nine months
ended November 20,2019ProfitOther comprehensive income

For the nine months
ended November 20,2020

57,50776,723

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

(249)
1,081

(95)
58

Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax(1,725)29(1,018)33

Total other comprehensive income
Comprehensive income(863)(1,022)

56,64475,701

56,64475,701

Comprehensive income attributable to
Owners of parent―6―