Consolidated Financial Results for the First Six Months of the
Fiscal Year Ending March 31, 2023 [Japanese GAAP]
December 14, 2022
Company name: TOKAI Holdings Corporation
Stock listing:Tokyo Stock Exchange
Stock code:
3167
URL:
https://www.tokaiholdings.co.jp/english/
Representative:
Katsuo Oguri, President & CEO
Contact:
Junichi Yamada, Managing Executive Officer, General Manager of General Affairs Division
Headquarters
Telephone: +81-54-275-0007
Scheduled date of filing quarterly report:
December 15, 2022
Scheduled date of dividend payment:
November 30, 2022
Supplementary materials on quarterly financial results:
Yes
Quarterly financial results briefing:No(Figures are rounded to the nearest million yen)

1. Consolidated Financial Results for the Six-months Ended September 30, 2022
(April 1, 2022 to September 30, 2022)(1) Consolidated Operating Results (cumulative)(% figures represent year-on-year changes)

Sales

Operating Profit

Millions of yen%

Millions of yen

Quarterly Net
IncomeAttributable to
Owners of the
ParentRecurring Profit%

Millions ofyen%Millions of yen

Six-months Ended
8.4
4,523
-18.6
2,432
-54.0
147
104,110
September 30, 2022
Six-months ended
6.9
5,223
-4.2
5,284
-3.9
2,281
96,060
September 30, 2021
(Note) Comprehensive income: 1,117 million yen in the Six-months Ended September 30, 2022 (-65.6%)
3,247 million yen in the Six-months ended September 30, 2021 (-38.2%)
Quarterly Net Income
per ShareSix-months Ended
September 30, 2022
Six-months ended
September 30, 2021

%

-93.5
-30.4

Quarterly Net Income
per Share (Diluted)

Yen

Yen

1.13

-

17.42

-

(2) Consolidated Financial Position
Total Assets

Net Assets

Equity Ratio

Millions of yen

Millions of yen%

Six-months Ended
180,80777,859September 30, 2022
Year ended
184,473
78,946
March 31, 2022
(Reference) Equity: 76,051 million yen for the Six-months Ended September 30, 2022
77,234 million yen for the year ended March 31, 2022

42.1
41.9

2. Dividends
End of Q1

End of Q2
Yen

Yen

Year ended March 31, 2022―
15.00
Year ending March 31, 2023―
16.00
Year ending March 31, 2023
(Forecast)(Note) Revisions to most recently announced dividend forecasts: No

Annual Dividend
End of Q3

Year-end

Total

Yen

Yen

Yen

―

17.00

32.00

―

16.00

32.00

3. Consolidated Earnings Forecasts for the Year Ending March 31, 2023 (April 1, 2022 to March 31,
2023)(% figures represent year-on-year changes)

Sales
Millions ofyen%Operating Profit

Recurring Profit

Net Income
Attributable to
Owners of the
ParentMillions ofyenMillions ofyen%Millions of
yen

%

Yen

-10.1

8,300

-7.5

63.43

%

Year ending March
223,000
5.8
14,500-8.2
14,30031, 2023(Note) Revisions to most recently announced earnings forecasts: No

Net Income
per Share

業績予想欄については、上場会社各社の実情に応じて、開示対象項目や開示対象期間の追加又は削除、開示形式の変更を行うことが可能です。
*Notes(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries affecting the scope of consolidation): No(2) Application of special accounting procedures in the preparation of quarterly consolidated financial statements: No(3) Changes in accounting policies, estimates, and restatements
1) Changes in accounting policies accompanying revisions in accounting standards, etc. : Yes
2) Changes in accounting policies other than 1): No3) Changes in accounting estimates: No4) Restatements: No(Note) For details, please refer to the attached document page. 10 Please refer to “2. Quarterly Consolidated Financial Statements and Major
Notes (4) Notes to Quarterly Consolidated Financial Statements (Changes in Accounting Policies)”.

(4) Number of shares issued (common stock)
1) Shares issued at the end of each period (including treasury stock):

Q2 FY3/2023

139,679,977 shares FY3/2022

139,679,977 shares

2) Number of shares of treasury stock at the end of each period:

Q2 FY3/2023

8,785,431 shares FY3/2022

8,819,780 shares

3) Average number of shares during the period (cumulative):

Q2 FY3/2023

130,871,825 shares Q2 FY3/2022

130,975,162 shares(Note) Board benefit trust shares(BBT) is included in the number of year-end treasury stock.(462,100 stocks at Q2 FY3/2023, 496,900
stocks at FY3/2022)
In addition, the treasury stock to be deducted in the calculation of the average number of shares during the period includes theCompany's stock held by the Board Benefit Trust (BBT) (485,109 stocks at Q2 FY3/2023, 382,694 stocks at Q2 FY3/2022).

* Quarterly financial results not covered by quarterly review* Explanation regarding the Appropriate Uses of Earnings Forecasts and Other Notes
All earnings forecasts provided within this document are based on the most accurate information available at the time of the release of thisdocument. Actual results may differ from forecasts due to various factors going forward.

[Attachment]

Contents

1． Qualitative Information on Financial Results for the Period Under Review(1) Explanation of Consolidated Operating Results ····························································· 2(2) Explanation of Consolidated Financial Position······························································ 3(3) Explanation of Consolidated Earnings Forecast and Other Forward-Looking Information ········ 4
2． Quarterly Consolidated Financial Statements and Notes(1) Quarterly Consolidated Balance Sheets ······································································· 5(2) Quarterly Consolidated Statement of Income, Consolidated Statements of Comprehensive Income7(3) Quarterly Consolidated Statements of Cash Flows ························································· 9(4) Notes on Quarterly Consolidated Financial Statements ················································· 10(Notes on Going Concern Assumptions)········································································ 10(Notes on Significant Changes in Shareholders’ Equity) ···················································· 10(Changes in Accounting Policies) ················································································ 10(Additional information) ···························································································· 10(Segment Information）····························································································· 111

1．

Qualitative Information on Financial Results for the Period Under Review(1) Explanation of Consolidated Operating Results
During the first six months of the fiscal year ending March 31, 2023, the Japanese economy was affectedby the depreciation of the yen amid the growing gap in interest rates between Japan and the United States,
as well as by the situation in Ukraine. Soaring energy prices had an additional impact. Amid speculation
about additional interest rate hikes in the United States and in Europe, there is concern about the continued
devaluation of the Japanese currency. It will be necessary to closely watch the situation in Japan and aroundthe world.
The ongoing fiscal year is the second fiscal year under the Medium-Term Management Plan for the period
until the fiscal year ending March 31, 2025. During the first six months of the fiscal year under review, theGroup continued its concerted efforts to accelerate the expansion of business areas and digital marketing, tocreate open innovation, to step up its digital transformation (DX) strategy, to optimally allocate management
resources, and to strengthen its SDG initiatives.
Consequently, the Group posted a 49,000 rise in the number of continuing customers, to 3,242,000 for the
first six months of the fiscal year under review (whereas the number grew 26,000 in the same period a year
earlier). The number of TLCMembership Service members increased 36,000 to 1,123,000 (whereas it rose
44,000 for the same period a year earlier). In June, the Group acquired shares of Wood Recycle Co., Ltd.
(Gero City, Gifu Prefecture), a company engaging in industrial waste treatment and manufacturing of
woodchips, and made it a consolidated subsidiary. In September, the Group concluded agreements foracquiring shares of J-support Co., Ltd. (Chuo-ku, Fukuoka City) and Okinawa Cable Network Inc. (Naha City,
Okinawa Prefecture). The Group thus made positive achievements in expansion of its business base.

Under these circumstances, for the first six months ended September 30, 2022, the Group posted net
sales of 104,110 million yen (up 8.4% year on year). However, given rises in gas purchase costs and in
expenses for gaining customers, operating profit was down 18.6% year on year to 4,253 million yen.
Ordinary profit stood at 2,432 million yen, down 54.0% year on year, after posting investment losses
including impairment losses associated with the goodwill of an affiliate in Vietnam. Profit attributable toowners of parent was 147 million yen, down 93.5% year on year, resulting chiefly from the posting of aloss on valuation of investment securities.
Performance by segment is indicated below.
(Energy)In the LP gas business, the number of customers increased 16,000 from the end of the previous fiscal year,
to 731,000, reflecting sustained Group efforts to attract customers. Net sales stood at 35,946 million yen (up17.0% year on year), chiefly due to a rise in selling prices linked to purchase prices in the industrial gas
business.
In the city gas business, the number of customers grew 3,000 from the end of the previous fiscal year, to
72,000. Net sales reached 8,106 million yen (up 49.0%), due to the effects of the gas rate adjustment system.
In this overall segment, net sales came to 44,053 million yen, up 21.9% year on year. However, thesegment posted anoperating loss of 216 million yen (compared with an operating profit of 635 million
yen for the same period a year earlier), due mainly to a hike in the cost of gas.
(Construction, Equipment, and Real Estate)
In the Construction, Equipment and Real Estate business, net sales stood at 11,486 million yen, down
7.1% year on year, and operating profit at 227 million yen, down 33.3% year on year. These results are
attributable to decreases in large facilities projects and in projects for the construction of new stores andother facilities.
(CATV)In the CATV business, the Group focused on providing local information and the production ofprograms as a community-based service provider. The Group collaborated with major video distributors
and made other efforts to enhance content. The Group continued steady sales activities based on actual
conditions in each business area. The broadcasting services customer count rose to 894,000, an increase of
6,000 from the end of the previous fiscal year. The communications services customer count increased to2

354,000, a rise of 10,000 from the end of the previous fiscal year.
Net sales in this segment stood at 16,574 million yen (up 3.1%), and operating profit came to 2,724 million
yen (up 3.6%).
(Information and Communications)
In the business for consumers, the Group worked to acquire customers in an effort to achieve a netincrease in customers. For example, it worked to gain customers in collaboration with major
telecommunications carriers in the ISP business. In the mobile business, the Group broadened its service
lineup and introduced package plans with fixed lines. These actions consequently achieved a net increasein the number of broadband customers, which surged 9,000 from the end of the previous fiscal year to663,000. LIMBO customers increased by 7,000 to 62,000. However, a decrease in ARPU resulted in
net sales of 12,026 million yen, down 1.8% year on year.
In the business for corporate clients, net sales came to 14,052 million yen, up 7.6% year on year,
mainly reflecting steady growth in cloud services and an increase in the contract development projects.
Net sales in this segment thus stood at 26,078 million yen, up 3.1% year on year. Operating profit
came to 1,609 million yen, down 6.7% year on year, reflecting an increase in expense for gaining
broadband customers.
(Aqua)
In⁠⁠ the Aqua (bottled drinking water delivery) business,the number of customers increased 2,000 from theend of the previous fiscal year to 167,000. That resulted from sales activities in events at large retail facilities
and others as well as non-face-to-face sales activities such as efforts to win contracts online andtelemarketing.
Net sales in this segment were 3,838 million yen, down 1.9% year on year, chiefly following a decline
in consumption per household. However, as a result of cutting expenses for gaining customers,
operating profit reached 80 million yen, up 146.2% year on year.
(Others)
Net sales in the nursing care business stood at 694 million yen (up 5.5%), reflecting an increase in thenumber of users. Net sales in the shipbuilding business came to 581 million yen (down 32.0%), due to adecrease in the number of ships that the Group repaired. In the bridal events business, net salesreached 398
million yen (up 41.2%), following a recovery in weddings and receptions.
In this segment, net sales stood at 2,077 million yen (down 7.6%) and operating profit at 23 million yen(while operating loss of 114 million was posted for the same period in the previous fiscal year).
(2) Explanation of Consolidated Financial Position
1) Assets, Liabilities, and Net Assets
Total assets at the end of the first six months under review stood at 180,807 million yen, a decrease of
3,666 million yen from the end of the previous fiscal year. This slide was attributable primarily to a decreaseof 5,024 million yen in notes and accounts receivable - trade and contract assets, a decrease of 608 million
yen in cash and deposits, and a decrease of 483 million yen in other in current assets following a decline inshort-term loans receivable and others, which were partially offset by an increase of 1,735 million yen inmerchandise and finished goods and a rise of 799 million yen in work in process.
Total liabilities came to 102,948 million yen, a decrease of 2,579 million yen from the end of the previous
fiscal year. This was due to a fall of 2,309 million yen in notes and accounts payable-trade due toseasonal and other factors and a decline of 2,693 million yen in other in current assets chiefly due to adecrease in deposits received, which were partially offset by an increase of 2,451 million yen in shortterm borrowings.
Total net assets were 77,859 million yen, a decrease of 1,086 million yen from the end of the previous
fiscal year. This resulted mainly from dividend of surplus of 2,233 million yen, which was partly offset by anincrease of 523 million yen in foreign currency translation adjustment, a rise of 516 million yen in valuationdifference on available-for-sale securities and posting of 147 million yen in profit attributable to owners ofparent.

3

2) Cash Flows
Cash and cash equivalents (“cash”) as of September 30, 2022 were 3,838 million yen, a decrease of 608
million yen from the end of the previous fiscal year.
Cash flows in the first six months under review and major contributing factors are as follows.
(Cash flows from operating activities)
Net cash provided by operating activities was 7,956 million yen (3,425 million yen less year on year). The
cash inflows were attributable primarily to profit before income taxes, a decrease in trade receivables anddepreciation as anon-cash account title, which were partially offset by income taxes paid, a decrease in trade
payables, growth in inventories among other cash outflows.
(Cash flows from investing activities)
Net cash used in investing activities 6,861 million yen (2,135 million yen higher year on year). The cash
outflows were attributable primarily to purchases of property, plant and equipment and intangible assets andto expenses for acquisition of securities.
(Cash flows from financing activities)
Net cash used in financing activities was 1,709 million yen (28 million yen less year on year). Loanspayable and other cash inflows were more than offset by cash outflows, including repayment of loans
payable, repayments of lease obligations and payment of cash dividends.
(3) Explanation of Consolidated Earnings Forecast and Other Forward-Looking Information
Results in the first six months of the fiscal year under review were roughly as forecast. The earnings
forecasts for the fiscal year ending March 31, 2023 announced on May 10, 2022 remain unchanged.
The earnings forecasts are based on information available at the time of publication. Actual results may
differ from the forecasts due to a variety of factors.

4

2. Quarterly Consolidated Financial Statements and Notes(1) Quarterly Consolidated Balance Sheets
Fiscal Year Ended
March 31, 2022
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract assets
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
Land
Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Net defined benefit asset
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

5(Millions of yen)
Six Months Ended
September 30, 2022

4,743
28,566
4,030
740
1,376
8,072
-431
47,0984,135
23,542
5,765
1,540
1,318
7,589
-436
43,45435,50024,832
24,911
20,771106,01735,087
24,49024,842
22,170106,591

6,040
4,953
10,993

5,873
4,758
10,631

3,769
16,806-211
20,364
137,375
184,473

3,802
16,618-290
20,129137,353
180,807

Liabilities
Current liabilities
Notes and accounts payable–trade
Short-term borrowings
Income taxes payable
Other provisions
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Other provisions
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets

6

Fiscal Year Ended
March 31, 2022

(Millions of yen)
Six Months Ended
September 30, 2022

18,66814,411
2,819
1,762
20,16057,822

16,35816,863
1,878
1,783
17,46654,35129,736368
1,038
16,56147,704
105,527

30,246337
1,096
16,915
48,596
102,948

14,00025,55236,395-2,332
73,61514,00025,56634,310-2,32371,553

605
369
2,643
3,619
9
1,702
78,946
184,473

1,121
893
2,482
4,497
22
1,785
77,859180,807(2) Quarterly Consolidated Statements of Income, Consolidated Statements of Comprehensive Income(Quarterly Consolidated Statements of Income)(Six-months Ended September 30, 2022)

Sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating profit
Interest income
Dividend income
Commission fee
Other
Total non-operating profit
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity method
Other
Total non-operating expenses
Recurring profit
Extraordinary income
Gain on sales of non-current assets
Gain on receipt of donated non-current assets
Gain on sale of investment securities
Transmission line equipment subsidy
Subsidy income
Total extraordinary income
Extraordinary losses
Loss on sales of non-current assets
Loss on retirement of non-current assets
Loss on sales of investment securities
Loss on valuation of investment securities
Anniversary business expenses
Other
Total extraordinary losses
Quarterly net income before income taxes
Income taxes (current)
Income taxes (deferred)
Total income taxes
Quarterly net income
Quarterly net income attributable to non-controlling interests
Quarterly net income attributable to owners of the parent

7(Millions of yen)
Six Months Ended
Six Months Ended
June 30, 2021
September 30, 2022
(April 1, 2021 to(April 1, 2022 toSeptember 30, 2021) September 30, 2022)
96,060104,11057,32164,87438,73939,23633,51634,982
5,223
4,253
3
162
16
165
347

10
122
14
192
339

135
107
43
286
5,284

132
1,963
64
2,160
2,432

3
96
80
26
－
207

27
－
64
3
3
156

0
382
0
－
208
498
1,089
4,402
1,887
151
2,038
2,364
82
2,281

0
401
－
314
－
－
716
1,873
1,614
22
1,637
236
88
147

(Consolidated Statements of Comprehensive Income)(Six-months Ended September 30, 2022)

Quarterly net income
Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains (losses) on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Quarterly comprehensive income(Breakdown)
Quarterly comprehensive income attributable to ownersof the parent
Quarterly comprehensive income attributable to noncontrolling interests

8

Six Months Ended
September 30, 2021
(April 1, 2021 toSeptember 30, 2021)
2,364(Millions of yen)
Six Months Ended
September 30, 2022
(April 1, 2022 toSeptember 30, 2022)
236

-47
668
-5
213

516
－
-2
-161

55

529

882
3,247

881
1,117

3,164

1,025

82

91

(3) Quarterly Consolidated Statements of Cash Flows(Millions of yen)
Six Months Ended Six Months Ended
June 30, 2021
September 30, 2022
(April 1, 2021 to(April 1, 2022 toSeptember 30, 2021) September 30, 2022)
Cash flows from operating activities
Quarterly net income before income taxes
Depreciation
Amortization of goodwill
Increase (decrease) in net defined benefit asset and liability
Interest and dividend income
Loss (gain) on sales of investment securities
Interest expenses
Loss (gain) on sales of non-current assets
Loss (gain) on valuation of investment securities
Loss on retirement of non-current assets
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in deposits received
Other
Subtotal
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Interest and dividend income received
Purchase of securities
Proceeds from sales of securities
Purchase of tangible and intangible assets
Proceeds from sales of tangible and intangible assets
Purchase of shares of subsidiaries resulting in change in scope of
consolidation
Loan advances
Proceeds from collection of loans receivable
Other
Net cash provided by (used in) investing activities
Cash flows from financing activities
Interest expenses paid
Net increase (decrease) in short-term loans payable
Repayments of lease obligations
Proceeds from long-term loans payable
Repayment of long-term loans payable
Redemption of bonds
Payments for acquisition of treasury stock
Cash dividends paid
Other
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

9

4,402
7,458
511
-110
-165
-80
135
-3
107
－
382
5,470
-13
-2,115-318-1,092
14,568-3,185
11,382

1,873
7,498
489
-204
-132
-64
132
-27
1,963
314
401
5,625
-2,471-2,310-1,125-867
11,094-3,137
7,956

191
-58
207
-7,006171

172-1,15095-6,699251-2,664

-86

-571
9
723
-8,997－601-45-6,861-140
1,620-2,103
6,100-4,997-49-0-2,100-8-1,680
-2
701
5,136
5,837

-135
2,300
-2,2945,950-5,288－-0-2,231-8-1,709
5
-608
4,447
3,838

(4) Notes on Quarterly Consolidated Financial Statements(Notes on Going Concern Assumptions)Not applicable(Notes on Significant Changes in Shareholders’ Equity)
Not applicable(Changes in Accounting Policies)(Application of Implementation Guidance on Accounting Standard for Calculation of Fair Value)
The Company has applied the “Implementation Guidance on Accounting Standard for Calculationof Fair Value” (ASBJ Guidance No. 31, June 17, 2021; hereinafter the “Implementation Guidanceon Accounting Standard for Market Value Calculation”) from the beginning of the first quarter of thecurrent fiscal year, and decided to apply the new accounting policy stipulated by the
Implementation Guidance on Accounting Standard for Market Value Calculation in accordance withthe transitional treatment stipulated in Article 27-2 of the Implementation Guidance on AccountingStandard for Market Value Calculation in the future. The application of this accounting standard will
have no impact on quarterly consolidated financial statements.
(Additional Information)(Inappropriate use of expenses by former President and CEO)The Company launched a special investigation committee including an outside lawyer and an
outside certified public accountant in September 2022 to begin an investigation in connection with
its former President and CEO’s inappropriate use of expenses. After it was anticipated that it would
take a considerable length of time to uncover the facts, the Company judged that it would be
difficult to submit the financial report for the second quarter of the fiscal year ending March 31,
2023 not later than the statutory due date, and submitted an application for approval to reset thedeadline for the report to December 15, 2022. Approval was obtained on November 14, 2022.
With regard to the investigation, the Company received an investigation report from the Special
Investigation Committee on December 14, 2022. It found an inappropriate use of expenses withwhich relation with the Group’s business could not be confirmed. Given that the impact of thisinappropriate use of expenses on the consolidated and nonconsolidated financial statements is
insignificant, the Company has decided not to revise the consolidated and nonconsolidated
financial statements for past fiscal years and for the first quarter of the fiscal year ending March 31,2023.
For the first six months of the fiscal year under review, an estimated amount of income taxes
concerned with the incident was posted in a lump sum. However, the impact is insignificant.

10(Segment Information, etc.)[Segment Information]
I. Six Months Ended September 30, 2021 (April 1, 2021 to September 30, 2021)
Information on net sales and profit or loss by reportable segment

Reportable segments

EnergyConstruction,
Equipment,
CATV
and Real
Estate36,15312,361

16,081

101

966

264

36,254

13,327

16,346

635

341

2,628

(Millions of yen)Amount inquarterly
consolidated
Adjustments2
statement ofincome3

Other1

Total

25,302 3,913

93,812 2,248

96,060－96,060

2,144

3,582

52

3,634

-3,634－27,447 4,018

97,395 2,300

99,695-3,63496,060

1,726

5,364

5,249

-26

5,223

Information andCommunications

Aqua Subtotal

Net sales
Sales toexternalcustomers
Intrasegment
sales andtransfer
Subtotal
Segment
profit (loss)

104

32

-114

(Notes) 1. The “Others” category is a business segment not included in the reportable segments.
This category includes businesses such as weddings, ship repair, insurance, and nursingcare.
2.Adjustments to segment profit (loss) are eliminations due to intra-segment transactions.
3.Segment profit (loss) is adjusted to match operating profit in the quarterly consolidated
statements of income.
II. Six Months Ended September 30, 2022 (April 1, 2022 to September 30, 2022)
Information on net sales and profit or loss by reportable segment
Reportable segments

EnergyConstruction,
Other1Equipment,
Information and
CATV
Aqua Subtotal
and Real
Communications
Estate

Total(Millions of yen)Amount inquarterly
consolidated
Adjustments2
statement ofincome3

Net sales
Sales to external
44,053customers
Intra-segment
98
sales and transfer
Subtotal
Segment profit(loss)

44,152-216

11,486 16,574
479

26,078245

2,038

11,966 16,820

28,117

227

2,724

1,609

3,838 102,033
125

2,987

3,964 105,021
80

4,425

－

104,110

3,165-3,165－2,254 107,276-3,165

104,110

-195

4,253

2,077 104,110
177

23

4,449

(Notes) 1. The “Others” category is a business segment not included in the reportable segments.
This category includes businesses such as weddings, ship repair, insurance, and nursingcare.
2. Adjustments to segment profit (loss) are eliminations due to intra-segment transactions.
3. Segment profit (loss) is adjusted to match operating profit in the quarterly consolidated
statements of income.

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