Briefings on Financial Results for the Second Quarterof Fiscal Year Ending September 30, 2023 (FY2023)

APAMAN Co., Ltd.
May 12, 2023
東証スタンダード
2023年5月12日（金）Copyright:©8889
APAMAN Co.,Ltd.
All rights reserved.
Tokyo Stock
Exchange(Standard):88891

1. 2Q FY2023 Financial Summary
2. 2Q FY2023 Results by Segment

Contents

3. FY2023 Consolidated Forecast
4. Growth Strategy and Challenges
5. Management Philosophy

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Co.,Ltd.
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reserved.
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APAMANCo.,Ltd.
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reserved.

2

2Q FY2023 Financial Summary

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3Topics

Net sales¥

22.8Upbillion ¥0.6% YoY

Operatingprofit

EBITDA

1.68 billion 0.90¥

down

0.6% YoY

downProfit attributable toowners of parentbillion

2.4% YoY¥
down-8 million¥0.169 billion

Net sales, EBITDA and operating profit were generally as planned.
Profit: Foreign exchange loss was 0.14 billion yen(Foreign exchange gain of 0.11 billion yen in FY2022)* Note: EBITDA = Ordinary profit + depreciation + amortization of goodwill

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4Financial Summary｜ Overview of Consolidated Statement of Income(Millions of yen)

2Q FY2022

Ratio to netsales

Ratio to netsales

2Q FY2023

YoY change

Net sales

22,744-22,889-+144

Gross profit

5,305

23.3%

5,406

23.6%

+100

SG&A expenses

4,377

19.2%

4,500

19.7%

+122

Operating profit

927

4.1%

905

4.0%

-22

Ordinary profit

701

3.1%

455

2.0%

-246

Profit attributable toowners of parent

161

0.7%

-8-0.0%

-169

1,696

7.5%

1,685

7.4%

-10

EBITDANote Non-operating income: Foreign exchange gains/loss; loss of ¥140 million (down ¥250 million YoY)
 Non-operating expenses: Equity-method profit/loss; loss of ¥120 million (down ¥40 million YoY) Extraordinary income: Loss (gain) on sales of non-current assets; loss of ¥20 million (down ¥30 million YoY)
Note: EBITDA = Operating profit + depreciation + amortization of goodwill

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Financial Summary ｜ Overview of Consolidated Balance Sheet(Millions of yen)

EndFY2022

2Q FY2023

ChangeEndFY2022

2Q FY2023

ChangeCurrent assets

16,45016,207-242

Current liabilities

11,952

12,515+563

Cash and deposits

8,318

8,115

-203

Accounts payable-trade

1,537

1,580+42

Accounts receivable-trade

1,817

1,971

+153

Short-term borrowings Note 1

3,036

3,349+312

Operational investment
securities

1,054

1,037

-16

Other

7,377

7,585+208

Other

5,258

5,082-176

Non-current liabilities

19,27718,324-953

19,094

18,746-348

Long-term borrowings

15,707

14,548-1,1581,453

1,398-54

2,116

2,377

-260

Non-current assets
Property, plant and equipment

2,687

2,706

+19Long-term lease and guarantee
deposited

Intangible assets

9,776

9,730

-45

OtherGoodwill

5,604

5,227-376

Total liabilities

31,22930,839-389

Other

4,172

4,503

+331

6,630

6,309

-321

Capital

8,002

8,021

+18

35,54534,954-591

Net assets

4,315

4,114

-201

Total liabilities and net
assets35,54534,954-591

Investments and other assets

Total assets

Note: 1. Includes current portion of long-term borrowings

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6Financial Summary ｜ Quarterly Sales(Billions of yen)

FY2021

FY2022
44.9

44.4

33.8

33.6

22.8

22.7

22.5

11.1

1Q

FY2023

11.0

10.8

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

 Effect on the application of the accounting standard for revenue recognition: 2Q FY2023 -¥360 million (2Q FY2022 -¥340 million, 2Q FY2021 - )Note: Quarterly sales are cumulative results.

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Financial Summary ｜ Quarterly EBITDA Note(Billions of yen)

FY2021

FY2022

FY2023
3.43

2.94
2.56
2.121.68

1.69

1.21
0.77

0.72

0.53

1Q

2Q

3Q

4Q

1Q

Note: EBITDA = Operating profit + depreciation + amortization of goodwill
Quarterly EBITDA is cumulative results.

2Q

3Q

4Q

1Q

2Q

3Q

4Q

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8Financial Summary ｜ Quarterly Operating Profit(Billions of yen)

FY2021

FY2022

FY2023
1.89

1.41

1.35

0.93

0.90

0.92

0.42

0.39

0.34

0.14
1Q

2Q

3Q

Note: Quarterly operating profit is cumulative results.

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

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9Financial Summary ｜ Profit Structure
Constant revenue accounts for about 70% of gross profit
Management

Rental management fee(Includes sub-leasing)
Platform

Company-rented
housings

Brokerage fee

Cloud service

Usage fee

Franchise service

Royalty fee

Metered parking

Parking fee

Technology
Constant-revenue gross profit

68.6％

OtherNote: Sales for businesses in the same segment that are divided between constant-revenue and other gross profit include transactions within the segment that are eliminated in theconsolidated financial statements.

As of Mar. 31, 2023

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Financial Summary ｜ Share and Amount of Constant Revenue Gross Profit(Billions of yen)

FY2021

FY2022

FY2023
68%

68%

66%

Gross profit

Gross profit

Gross profit

5.30

5.40

1.60

1.79

1.69

Constant
revenueConstant
revenueConstant
revenue

3.39

3.51

3.70

Share of constantrevenue gross profit
in total gross profit

4.99

1Q

2Q

3Q

Note: Quarterly gross profit is cumulative results

4Q

1Q

2Q

3Q

4Q

1Q

2Q

ストック

3Q

4Q

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2Q FY2023 Results by SegmentCopyright © APAMAN Co.,Ltd. All rights reserved.

12

Results by Segment ｜ Platform Business(PM + Company Housing + Store Operations)

Topics The number of companies using the company-rented
housing service and company housing agency service
increased

2Q FY2022

2Q FY2023

YoY Change

90,53290,657+12571

72+1No. of companies using thecompany housing agency service

3,050

3,259+209

No. of companies using thecompany-rented housing service

96

128+32

No. of units under management
No. of directly managed
storesCopyright © APAMAN Co.,Ltd. All rights reserved.

13

Results by Segment ｜ Platform Business(PM + Company Housing + Store Operations)

Topics Sales in PM, company housing and store operations
were firm Subleased company-rented housing reached 1,000 units(Millions of yen)Segment sales

17,948Segment profit
18,417

18,241

1,525

1,403
958

+1.0%

2Q FY2021

2Q FY2022+8.7%

2Q FY2023

2Q FY2021

2Q FY2022

2Q FY2023

 Lower sales due to the application of the accounting standard for revenue recognition: -¥360 million in 2Q FY2023
 Lower sales due to the application of the accounting standard for revenue recognition: -¥340 million in 2Q FY2022
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Results by Segment ｜ Platform Business(PM + Company Housing + Store Operations)
The use of technology to search for an apartment

Time of day• Customers can select a time of day when
visiting the store is easier• Improves the efficiency of store operations

Staff
appointment

Apamanshop
Online*Images are for illustration purposes.

• Assigning the most suitable individual for eachcustomer’s requirements improves customer
satisfaction and the pct. of customers wholease an apartment from APAMAN• More efficient customer services

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Results by Segment｜ Technology Business (FC)

Topics Higher depreciation due to digital transformation ofAPAMAN
 Held FC National Conference Locally for the first timein 3 years(Millions of yen)Segment sales
3,913

Segment profit
4,099

3,977

187

203

+3.1%

93
-54.1%
2Q FY2021

2Q FY2022

2Q FY2023

2Q FY2021

2Q FY2022

2Q FY2023

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Results by Segment｜ Analysis of Operating Profit (YoY Change)(Millions of yen)

SG&A expenses---

Gross profit+100• Increase in overall
personnel expenses• Revitalize localcommunities(Invigorating localcommunities)

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FY2023 Consolidated Forecast

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Overview of Consolidated Forecast(Millions of yen)

Forecast increases in business efficiency and depreciation due to the digitaltransformation of APAMAN
FY2022
Results

FY2023
Forecast

ChangeNet sales

44,92645,700+773

EBITDA

3,435

3,600+164

Operating profit

1,893

1,900+6

Ordinary profit

1,419

1,300-119262300+37

Profit attributable toowners of parent

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Growth Strategy and Challenges

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Growth Strategy

1. Growth of rental management
revenues
2. Acquisition of rental properties
under management
3. Expansion of company housingfor employees
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Challenges

1. Importance to cash flow

2. Debt-free management
3. Reduction of assets held

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Management Philosophy

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ManagementPhilosophy
経営理念
I. We pursue the happiness of all employees and their
一、全社員とその家族の幸せを物心ともに追求する。
families with a sense of mind.
II. We raise a personality without being arrogant humbly
一、謙虚にして驕らず人格を高め地域社会に貢献する。
and contribute to the community.
III. Businesses dedicated to the happiness of our
一、お客様に喜んでいただけることを業務とする。
customers.

In line with our management philosophy
 Salary increase of 8.0% over the past two years
 Introduction of a single-parent subsidy scheme Introduction of a defined contribution pension scheme Substantial increase in qualification allowancesand more
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Cautionary Statements
Amounts are rounded down to the nearest million yen and percentages are rounded off to the first decimal place. Accordingly, figures calculated using mathematicalformulas and the resulting figures stated in this material may not agree. The information presented in these materials, excluding past results but including
management strategies, plans, and forecasts, is forward-looking information, based on certain assumptions deemed reasonable in light of the information available atthe time these materials were prepared. Actual results may differ significantly from these forecasts as a result of a variety of factors going forward. The information
contained in these materials is subject to change without notice.
Every effort has been made to ensure the accuracy of the information contained herein, but APAMAN makes no guarantee regarding the accuracy, usefulness, or
timeliness of such information. APAMAN assumes no responsibility for losses incurred as a result of errors in the information contained herein.

These materials were prepared for the purpose of presenting the business overview of APAMAN and its affiliates, and are not intended as a solicitation or offer forinvestment. Investment decisions are entirely those of the investors.
This presentation uses numbers that are accurate at this time and makes no guarantee regarding numbers used in past presentations concerning results of operations.

Copyright © APAMAN Co.,Ltd. All rights reserved.

Copyright © APAMAN Co.,Ltd. All rights reserved.

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