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.

Summary(Translation)
May 15, 2023

TSUBURAYA FIELDS HOLDINGS INC.
Consolidated Financial Results for the Fiscal Year Ended March 31, 2023
(Under Japanese GAAP)
Company name:
Listing:
Securities code:
URL:
Representative:
Inquiries:
Telephone:

TSUBURAYA FIELDS HOLDINGS INC.
(URL: https://www.fields.biz/ir/e/)
Tokyo Stock Exchange, Prime Market
2767
https://www.fields.biz/ir/e/
Hidetoshi Yamamoto, Chairman, President and Group CEO
Hideaki Hatanaka, Senior Corporate Officer+81-3-5784-2111

Scheduled date of annual general meeting of shareholders:
Scheduled date to commence dividend payments:
Scheduled date to file annual securities report:
Preparation of supplementary material on financial results:
Holding of financial results briefing:

June 21, 2023
June 22, 2023
June 21, 2023
Yes
Yes (for analysts and institutional investors)(Yen amounts are rounded down to millions)

1. Consolidated financial results for the fiscal year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)(Percentages indicate YoY changes)(1) Consolidated operating results
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Fiscal year ended

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

March 31, 2023

117,125

23.4

10,950217.9

11,218

208.7

8,221

232.7

March 31, 2022

94,900

144.6

3,444

-

3,634

-

2,471

-

(Notes) Comprehensive income

For the fiscal year ended March 31, 2023: ¥ 11,207 million [267.9%]
For the fiscal year ended March 31, 2022: ¥ 3,046 million [-%]

Basic earnings
per share

Diluted earnings
per share

Return on equity

Ratio of ordinary
profit to total assets

Ratio of operating
profit to net sales%

Fiscal year ended

Yen

Yen

%

%

March 31, 2023

126.70125.74

23.7

14.9

9.3

March 31, 2022

38.21

38.09

8.2

5.9

3.6

Reference: Share of profit (loss) of entities accounted for using equity method

For the fiscal year ended March 31, 2023: ¥90 million
For the fiscal year ended March 31, 2022: ¥59 million(Notes) On March 21, 2023, we conducted a 2-for-1 stock split of our common share. For this reason, basic earnings per share and diluted
earnings per share are calculated on the assumption that this stock split was conducted at the beginning of the previous fiscal year.

(2) Consolidated financial position
Total assets
As of

Net assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen%

Yen

March 31, 2023

80,89341,81748.4

598.18March 31, 2022

70,001

31,55143.4

469.71

Reference: Equity

As of March 31, 2023: ¥39,120 million
As of March 31, 2022: ¥30,372 million(Notes) On March 21, 2023, we conducted a 2-for-1 stock split of our common share. For this reason, net assets per share is calculated on theassumption that this stock split was conducted at the beginning of the previous fiscal year.

(3) Consolidated cash flows
Cash flows fromoperating activities

Cash flows frominvesting activities

Fiscal year ended

Millions of yen

Millions of yen

March 31, 2023

12,561March 31, 2022

7,980

Cash flows fromfinancing activities

Cash and cash
equivalents at end of
periodMillions of yen

Millions of yen(7,642)(725)

36,497(1,586)

1,385

32,304

2. Cash dividends
Annual dividends per share
Q1 endQ2 endFiscalyear-end

Q3 endTotal cash
dividends

Total

Yen

Yen

Yen

Yen

Fiscal year ended
March 31, 2022

-

0.00

-

20.00

20.00

Fiscal year ended
March 31, 2023

-

0.00

-

30.00

30.00

Fiscal year ending
March 31, 2024
(forecast)

-

0.00

-

30.00

30.00

Ratio of
Payout ratio dividends to(Consolidated) net assets(Consolidated)

Yen Millions of yen

%

%

646

26.2

2.1

1,961

23.7

5.6

23.1

(Notes) On March 21, 2023, we conducted a 2-for-1 stock split of common share. For the fiscal year ended March 31, 2022, the amount of dividends
before the stock split is stated. Dividends for the fiscal year ended March 31, 2022, after taking into account the stock split, would be ¥10.
Figures for the fiscal years ended March 31, 2023 and fiscal years ending March 31, 2024 (forecasts) are after the stock split.

3. Forecast of consolidated earnings for the fiscal year ending March 31, 2024 (April 1, 2023 to March 31, 2024)(Percentages indicate YoY changes)
Profit attributable to
Basic earnings
Net sales
Operating profit
Ordinary profit
owners of parent
per share
Millions of yen

Full-year

123,000% Millions of yen% Millions of yen%

Millions of yen

%

Yen

5.0

9.6

8.7

8,500

3.4

129.97

12,00012,200*Notes(1) Changes in significant subsidiaries during the period(changes in specified subsidiaries resulting in the change in scope of consolidation): Yes
New consolidation: one company (company name) FIELDS CORPORATION(2) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: Yes(ii) Changes in accounting policies due to reasons other than (i): None(iii) Changes in accounting estimates: Yes(iv) Restatement: None
(3) Number of issued shares (common shares)(i) Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2023
69,400,000 shares
As of March 31, 2022
69,400,000 shares(ii) Number of treasury shares at the end of the period
As of March 31, 2023
4,001,382 shares
As of March 31, 2022
4,736,600 shares(iii)Average number of shares outstanding during the period
Fiscal year ended March 31, 2023
64,891,355 sharesFiscal year ended March 31, 2022
64,663,400 shares(Notes) We conducted a 2-for-1 stock split on March 21, 2023. Therefore, the number of issued shares at the end of the period (including treasury
shares), the number of treasury shares at the end of the period, and the average number of shares outstanding during the period are
calculated on the assumption that this stock split was conducted at the beginning of the previous fiscal year.

Reference: Overview of non-consolidated financial results
1. Non-consolidated financial results for the fiscal year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)(1)

Non-consolidated operating results(Percentages indicate YoY changes.)

Net sales
Fiscal year ended

Operating profit

Millions of yen

Ordinary profit

Net profit%

Millions of yen%

Millions of yen%

Millions of yen%

March 31, 2023

41,193(50.7)

5,106

289.4

5,159

241.2

5,515

245.7

March 31, 2022

83,604

181.3

1,311

－

1,512

－

1,595

－

Basic earnings
per share

Diluted earnings
per share

Fiscal year ended

Yen

March 31, 2023

85.00

84.36

March 31, 2022

24.68

24.60

Yen

(Notes) 1. On October 3, 2022, we shifted to a holding company structure. As a result, the non-consolidated results for the year ended March 31, 2023
have changed significantly compared with the year ended March 2022.
2. We conducted a 2-for-1 stock split on March 21, 2023. Accordingly, basic earnings per share and diluted earnings per share are calculatedon the assumption that this stock split was conducted at the beginning of the previous fiscal year.

(2)

Non-consolidated financial position
Total assets

Fiscal year ended

Net assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen%

Yen

March 31, 2023

55,71735,97364.5

549.36

March 31, 2022

63,87429,73546.5

459.41

Reference: Equity

As of March 31, 2023: ¥35,927 million
As of March 31, 2022: ¥29,707 million(Notes) We conducted a 2-for-1 stock split on March 21, 2023. Accordingly, net assets per share is calculated on the assumption that the stock split was
conducted at the beginning of the previous fiscal year.
* Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
* Proper use of earnings forecasts, and other special matters
The earnings forecasts and other forward-looking statements herein are based on information currently available to the Company and on
certain assumptions deemed to be reasonable. Actual results, etc. may differ materially from the forecasts due to various factors.
Please refer to 1. Qualitative information for the fiscal year under review (1) Financial results on page two and (2) Outlook for the next fiscal
year on page four.
(How to obtain supplementary materials on financial results)
The Company is planning to hold a financial briefing (online) for analysts and institutional investors on Tuesday, May 16, 2023. Materials
used at that briefing will be posted on the Company’s website as soon as possible after the briefing.

Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

Table of contents of attached document

1. Qualitative information for the fiscal year under review ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ2(1) Financial results ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ 2(2) Outlook for the next fiscal yearꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ 4(3) Basic policy on profit distribution and dividends for the current and next fiscal year ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ 5(4) Overview of financial position for the fiscal year under review ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ 6(5) Overview of cash flows for the fiscal year under review ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ 6
2. Basic policy regarding selection of accounting standards ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ 7
3. Consolidated financial statements and important notes ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ 8(1) Consolidated balance sheets ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ 8(2) Consolidated statements of income and consolidated statements of comprehensive income ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ10(3) Consolidated statement of change in equity ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ 13(4) Consolidated statements of cash flows ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ 15(5) Note regarding the consolidated financial statements ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ17(Notes regarding the operation of the company as a going concern) ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ17(Changes in accounting policies) ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ17(Changes in presentation method) ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ17(Changes in accounting estimates) ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ 17(Business combinations) ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ18(Segment information, etc.) ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ 19(Per share information) ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ 20(Significant subsequent events) ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ21

1

Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

1. Qualitative information for the fiscal year under review(1) Financial results
Although uncertainty about the future of the domestic economy remains due to the prolonged situation in Ukraine,socioeconomic activities are gradually returning to pre-COVID levels due to the policy shift to “with corona.” As those forced
to put up with the pandemic reaffirm the importance of leisure time, the roles we should play are also growing in importance.

In order to realize our corporate philosophy of “The Greatest Leisure for All People,” we have long been hoping to develop
a global content business to make many people happy in addition to traditional pachinko fans. Following the listing on
JASDAQ market in March 2003, we moved into the content business. Through a public offering in the following year, we
acquired a large number of contents. In 2005, we acquired shares in D3PUBLISHER INC., a game company, and entered the
U.S. market. In 2010, we made Tsuburaya Productions Co., Ltd. (hereinafter, “TPC”) and Digital Frontier Inc. subsidiaries. In
2011, we launched HERO'S Monthly, a comic magazine in collaboration with Shogakukan group. We have accumulated avariety of knowledge and know-how needed to promote our global content business since listing.
At TPC, there were lawsuits involving the rights to use Ultraman overseas, and there were major constraints on overseas
expansion. Accordingly, while working to resolve litigation issues, we have made steady progress in preparing for overseas
expansion by securing excellent human resources, developing systems, and promoting the brand through exposure to
Ultraman related works in the Chinese and ASEAN regions. Global development expanded rapidly after the winning of thelawsuit was finalized in March 2020. In the Chinese market, where we have already built a strong reputation, we havesucceeded in penetrating Ultraman brand. In addition to building an extensive sales network for Ultraman goods, centered on
trading cards, we opened Ultraman area in Shanghai Haichang Ocean Park in July 2022. Domestically, the movie SHINULTRAMAN, which was released in May 2022, was highly regarded for its appeal, which led to the expansion of new fansamong a wide range of age groups and contributed to the penetration of Ultraman brand.
In the fiscal year under review, the global content business, which had been our desperate aspiration, began to get on track.
Taking this opportunity, we made it a holding company and renamed it TSUBURAYA FIELDS HOLDINGS INC., a name thatis appropriate for developing global content businesses.

In pachinko/pachislot (hereinafter, “PS”) market, the development efforts of manufacturers and the management efforts ofpachinko halls resulted in the acceptance by users of PS machine for new regulation, and positive signs of market expansion
began to appear in the fiscal year under review. Over the past decade, the number of manufacturers has declined due to thesuccessive effects of regulatory amendment/revised regulations and the pandemic, and the number of pachinko halls has been
decreasing due to the increasing size of pachinko halls. As a result, the competitive environment for the market as a whole will
be optimized, and the market is expected to remain stable as no major regulatory amendment/revised regulations is anticipatedin the future.
In the 1970s, the pachinko industry experienced a dramatic transformation from a hands-on model to an electric model.
With the advent of an easy-to-handle title, however, the range of players has expanded from mainly professionals to include
women and the elderly. The smart PS machine that emerged in 2022 is expected to attract a potential user base as it is a newgeneration of machine that is comparable to the industrial revolution since the electric power was introduced, with a high levelof game function and the absence of balls and medals, leading to an improved gaming environment.

It is our Group’s social mission to provide higher-quality leisure time to people living in a mature society of the 21st
century. While accurately grasping the leisure needs of people who are changing with the times, we will continue to take on
the challenge of creating next-generation entertainment by aggressively investing management resources in growth areas
under the holding company structure to create businesses.

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Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

(Figure 1) Toward the realization of the corporate philosophy“The Greatest Leisure for All People” (up to March 2023)

Results for the fiscal year under review were as follows.

Content and digital segment
In TPC, which is responsible for the dynamic promotion of growth potential, sales of Ultraman related low-priced
merchandise grew rapidly on the back of its popularity in China, and licensing revenue from China grew significantly.
In Japan, the movie SHIN ULTRAMAN, which was released in theaters in May 2022, was launched exclusively on Amazon
Prime Videos in November, contributing to the acquisition of a new fan base throughout the full fiscal year. The number ofvisitors to the Ultra Hero’s EXPO held during the summer and winter holidays greatly exceeded last year. In February 2023,
the release of a movie titled Ultraman Decker Finale: Journey to Beyond also contributed to strong sales of Ultraman goods.
In addition, the inclusion of GRIDMAN UNIVERSE, a movie released in March, contributed to a significant increase in theenrollment of TSUBURAYA IMAGINATION, an owned media.
(Figure 2) Business revenues of TPC(Unit: millions of yen)

Consequently, the content and digital segment posted YoY increases of 59.6% in net sales and 198.8% in operating profit to
14,532 million and 4,378 million, respectively.

PS business segment
The advent of smart PS is an industrial revolution for the industry, and we see it as an opportunity to acquire new users.
Smart pachislot (“smart slot”), introduced in November 2022, remains strong, and there are high hopes for smart pachinko(“smart pachi”) to be introduced in April 2023 and beyond, and the industry is entering a period of stable growth.
FIELDS CORPORATION (hereinafter, “FIELDS”), which plays a central role in profitability, sold seven pachinko titles,
six pachislot titles and total 219,000 units during the fiscal year under review. We were able to sell a number of hit
merchandise, led by P Godzilla vs EVANGELION -G-cells awakening-, which was the industry’s largest unit sales throughout
3

Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

the year. In addition, high-margin private brands, including PACHISLOT INUYASHA, performed well, contributing to results.

Consequently, PS business segment posted a net sales of ¥100,808 million, up 20.4%, and an operating profit of ¥7,714
million, up 340.7%.

Other segment
Other business performed well, resulting in net sales of ¥2,305 million and operating profit of ¥75 million for the fiscal year
under review.

As a result of the above business activities, the consolidated results for the fiscal year under review were net sales ¥117,125
million (up 23.4% YoY), operating profit ¥10,950 million (up 217.9% YoY), ordinary profit ¥11,218 million (up 208.7%
YoY), and profit attributable to owners of parent ¥8,221 million (up 232.7% YoY), partly due to the recording ¥859 million ofincome taxes - deferred based on tax-effect accounting.
(2) Outlook for the next fiscal year
Content and digital segment
In order to establish the brand of TPC globally and aim for lasting growth, we will first establish a solid Ultraman brand in
China/ASEAN. To this end, we will implement the following specific measures.
In China, Ultraman has gained acceptance in a wide range of age groups as a result of continued exposure of video products
for more than a decade, and our survey shows that its favorability and recognition far exceeds that of other IP. Following on
from Ultraman area in Shanghai Haichang Ocean Park, which boasts overwhelming customer drawing power, in May 2023,
Ultraman area was opened in Dalian Discovery Kingdom theme park, and several other theme parks are scheduled to open in
Ultraman area. Against the backdrop of the popularity of Ultraman, we expect trading cards to continue to grow. We will also
work to expand our non-toy merchandise by leveraging our extensive distribution network built throughout China. The
Chinese population is more than 11 times larger than the Japanese population, the national land is 25 times larger, and GDP ismore than four times larger. We have just begun to cultivate the Chinese market, and we will work to further develop themarket.
Ultraman brand has begun to penetrate other ASEAN countries. In Indonesia, Malaysia, and Thailand, in particular,
Ultraman is highly recognized, so we will horizontally develop a successful business model in China. We will work with local
companies etc. to manufacture and develop trading cards and new merchandise, as well as build an extensive sales network.
We plan to establish a base in Singapore to cover ASEAN within the fiscal year, and gradually establish a base in the above
three countries.
“ULTRAMAN BLAZAR,” a TV program that will start in July 2023, will be the first video product distributed by simul in
China and ASEAN regions.
In Japan, the “ULTRAMAN” Final season will be distributed on Netflix exclusively worldwide from May 2023. In earlysummer 2023, Ultraman the Ride, a ride attraction, is scheduled to open at Seibuen Amusement Park. We are consideringholding Ultraman related attractions and Ultraman shows at other theme parks, while also anticipating the inbound tourism
market. Through these measures, we will further expand our fan base by increasing Ultraman exposure in Japan.
In North America, Netflix production of Ultraman’s anime film is scheduled to global simultaneous distribution in 2024.
Prior to its release, the Company will establish a subsidiary in Los Angeles, United States. and move forward with more
specific initiatives.
At the same time, we will focus on utilizing IP that we own in TPC and creating new IP that are in line with the times.
We will continue to actively recruit talented personnel, such as holding briefings for new graduates and mid-career hires in
May 2023, in order to ensure the execution of our growth-oriented strategies through overseas expansion and IP creation.
Consequently, for the next fiscal year’s content and digital business segment, we forecast a 23.9% YoY increase in net sales
4Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

to 18,000 million and a 37.0% increase in operating profit to 6,000 million.
PS business segment
The pachinko industry is expected to drive the market in the coming fiscal year as demand for smart slot continues to bestrong. In addition, although the market launch of smart pachi lagged behind that of smart slot, we expect it to fully penetrate
the market from the second half of the fiscal year.
FIELDS is building a system that can sell 12 titles of pachinko and pachislot each per year. However, within the industry,
there is still some uncertainty regarding the procurement of parts and materials. For the next fiscal year, as the main title, we areplanning to sell seven titles of pachinko, nine titles of pachislot, and 260,000 total units per year. By investing attractive
merchandise, we will meet the expectations of halls and fans.
Consequently, for the next fiscal year, PS business segment is forecast to record a 3.2% YoY increase in net sales to ¥104,000
million and a 3.7% increase in operating profit to ¥8,000 million.
For the fiscal year ending March 2024, we forecast consolidated earnings of net sales of ¥123,000 million (up 5.0% YoY),
operating profit of ¥12,000 million (up 9.6% YoY), ordinary profit of ¥12,200 million (up 8.7% YoY), and profit attributable toowners of parent of ¥8,500 million (up 3.4% YoY).
(Notes) 1. All figures in this report are based on our estimates.
2. Merchandise names in this report are trademarks or registered trademarks of each company.

(3) Basic policy on profit distribution and dividends for the current and next fiscal year
We regard the improvement of corporate value as an important management issue and have adopted a basic policy of paying
dividends in line with profits. At the same time, as market conditions change dramatically, we believe that prioritizing securing
investment funds to expand earnings by stabilizing our financial base from a medium-to-long-term perspective will lead to thegreatest shareholder return, including future increases in corporate value.
A year-end dividend for the current fiscal year will be ¥30 per share and will be discussed at the 35th Annual General Meetingof Shareholders to be held on June 21, 2023.
For the next fiscal year, we plan to pay a year-end dividend of ¥30 per share.

5Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

(4) Overview of financial position for the fiscal year under review
End of the previous fiscal year
(As of the end of March 2022)

End of current fiscal year
(As of the end of March 2023)

Total assets¥70,001 million¥80,893 million¥10,891 million

Total liabilities¥38,449 million¥39,075 million¥626 million

Total net assets¥31,551 million¥41,817 million¥10,265 million

YoY change(Assets)
Current assets increased by ¥2,170 million from the end of the previous fiscal year to ¥58,868 million. This was mainly
due to an increase in cash and deposits.
Property, plant and equipment increased by ¥756 million from the end of the previous fiscal year to ¥5,295 million. Thiswas mainly due to an increase in construction in progress.
Intangible assets increased by ¥405 million from the end of the previous fiscal year to ¥2,888 million. This was mainly
due to an increase in software.
Investments and other assets increased by ¥7,558 million from the end of the previous fiscal year to ¥13,841 million. Thiswas mainly due to an increase in investment securities.
Consequently, assets increased by ¥10,891 million from the end of the previous fiscal year to ¥80,893 million.
(Liabilities)
Current liabilities increased by ¥2,625 million from the end of the previous fiscal year to ¥30,489 million. This was mainly
due to an increase in short-term borrowings.
Non-current liabilities decreased by ¥1,999 million from the end of the previous fiscal year to ¥8,585 million. This was
mainly due to a decrease in long-term borrowings.
Consequently, liabilities increased by ¥626 million from the end of the previous fiscal year to ¥39,075 million.
(Net assets)
Net assets increased by ¥10,265 million from the end of the previous fiscal year to ¥41,817 million. This was mainly due
to an increase in retained earnings.
(5) Overview of cash flows for the fiscal year under review
Cash and cash equivalents (hereinafter, “cash”) at the end of the fiscal year under review increased by ¥4,193 million fromthe end of the previous fiscal year to ¥36,497 million.
Cash flows for the fiscal year under review are summarized as follows:
Previous period
Current period(Year ended March 31, 2022) (Year ended March 31, 2023)

YoY change

Cash flows from operating activities¥7,980 million¥12,561 million¥4,580 million

Cash flows from investing activities¥ (1,586) million¥ (7,642) million¥ (6,056) million

Cash flows from financing activities¥1,385 million¥ (725) million¥ (2,110) million(Cash flows from operating activities)
Net cash provided by operating activities was ¥12,561 million (¥7,980 million provided in the same period of the previous
fiscal year). This was mainly attributable to a profit before income taxes of ¥11,127 million, a decrease in inventories of¥2,330 million, income taxes paid of ¥1,213 million, and a decrease in liabilities relating to paid-in transactions of ¥1,105
million.
(Cash flows from investing activities)
Net cash used in investing activities was ¥7,642 million (¥1,586 million used in the same period of the previous fiscal
year). This was mainly due to purchase of investment securities of ¥5,126 million, purchase of non-current assets of ¥1,344
million, and payments for investments in capital of ¥1,012 million.

6

Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

(Cash flows from financing activities)
Net cash used in financing activities was ¥725 million (¥1,385 million used in the same period of the previous fiscal year).
This was mainly due to net increase (decrease) in short-term borrowings of ¥5,349 million, repayments of long-termborrowings of ¥5,051 million, cash dividends paid of ¥645 million and purchase of shares of subsidiaries not resulting inchange in scope of consolidation of ¥486 million.
(Reference) Trends in cash flow-related indicators
FY2018
Shareholders’ equity ratio
Shareholders’ equity ratio basedon market value
Cash flow to interest-bearing
liabilities ratio
Interest coverage ratio

FY2019FY2020

FY2021

FY2022

50.8%

52.6%

56.9%

43.4%

48.4%

35.6%

14.7%

35.6%

41.6%

167.3%

7.1 years-

3.0 years

1.6 years

1.1 years

28.6 times-

40.7 times

102.5 times

157.3 times

Shareholders’ equity ratio: shareholders’ equity/ total assets
Shareholders’ equity ratio based on market value: market capitalization (closing share price at the end of the period)/ total assets
Cash flow to interest-bearing liabilities ratio: interest-bearing liabilities/ operating cash flow
Interest coverage ratio: operating cash flow/ interest expenses(Notes)1. All figures are calculated based on consolidated financial figures.
2. Market capitalization is calculated based on the number of shares outstanding excluding treasury shares.
3. Interest-bearing liabilities covers all liabilities that pay interest out of liabilities recorded in the consolidatedbalance sheet.
4. Cash flow to interest-bearing liabilities ratio and interest coverage ratio are not stated when operating cash flow is
negative.

2. Basic policy regarding selection of accounting standards
The Group considers the financial statements prepared in accordance with Japanese GAAP to be appropriate for the purposeof presenting the status of the Company’s current business. With regard to the application of IFRS, we intend to respond
appropriately, taking into account various domestic and overseas circumstances.

7

Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

3.

Consolidated financial statements and important notes(1) Consolidated balance sheets(Unit: millions of yen)Previous consolidated fiscal year Current consolidated fiscal year
(As of March 31, 2022)(As of March 31, 2023)
AssetsCurrent assets
Cash and deposits
Notes receivable – trade
Accounts receivable – trade
Contract assets
Electronically recorded monetary claims – operating
Merchandise and finished goods
Work in process
Raw materials and supplies
Merchandise rights
Other
Allowance for doubtful accounts

32,404881
11,334
474
708
388
2,874
1,831
3,207
2,615
(23)

36,597
1,733
8,878
324
1,957
339
1,902
1,997
1,734
3,441
(37)

56,69858,8685,137(3,264)

5,479(3,387)

Buildings and structures, net

1,872

2,091

Machinery, equipment and vehicles
Accumulated depreciation

90
(70)

96
(73)

Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation

Machinery, equipment and vehicles, net

20

22

3,722
(3,233)

3,703(3,245)

489

457

Land
Construction in progress

1,922
233

1,929
793

Total property, plant and equipment

4,538

5,295

1,623
859

1,677
1,210

2,482

2,888

1,429
215
529
2,226
2,210
(328)

7,959
681
962
2,247
2,197
(207)

Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net

Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Leasehold and guarantee deposits
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

8

6,282

13,841

13,30322,02470,00180,893

Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

(Unit: millions of yen)Previous consolidated fiscal year Current consolidated fiscal year
(As of March 31, 2022)(As of March 31, 2023)
Liabilities
Current liabilities
Notes and accounts payable – trade
Short-term borrowings
Current portion of long-term borrowings
Income taxes payable
Contract liabilities
Provision for bonuses
Provision for bonuses for directors (and other officers)
Other

13,128
1,202
5,030
608
1,464
291
46
6,092

12,402
6,549
2,794
1,358
1,029
273
159
5,923

Total current liabilities

27,86430,489Non-current liabilities
Long-term borrowings
Retirement benefit liability
Asset retirement obligations
Other

6,530
809
800
2,444

3,994
862
1,213
2,515

Total non-current liabilities

10,584

8,585

Total liabilities

38,44939,075

Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares

7,948
7,576
16,771(1,946)

7,948
7,390
24,217(1,644)30,34937,912

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans

Total shareholders’ equity

18
1
3

1,194
1
12

Total accumulated other comprehensive income

23

1,208

Share acquisition rights
Non-controlling interests

28
1,150

45
2,651

Total net assets

31,551

41,81770,00180,893

Total liabilities and net assets

9Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

(2) Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income(Unit: millions of yen)Previous consolidated fiscal year
(April 1, 2021 to March 31, 2022)

Current consolidated fiscal year
(April 1, 2022 to March 31, 2023)

Net sales
Cost of sales

94,90079,116

117,125
91,799Gross profit

15,78425,326

Selling, general and administrative expenses
Advertising expenses
Salaries
Provision for bonuses
Retirement benefit expenses
Outsourcing expenses
Travel and transportation expenses
Depreciation
Rent expenses on land and buildings
Provision of allowance for doubtful accounts
Amortization of goodwill
Provision for bonuses for directors (and other officers)
Other

1,021
4,103
135
64
828
258
415
1,199
15
252
46
3,998

1,191
4,379
200
68
1,465
312
415
1,202
(63)
260
159
4,784

Total selling, general and administrative expenses

12,33914,376

3,444

10,950

2
1
157

4
5
129

59

90

33
110

21
133

365

385

77
67

79
4

17

6

Operating profit (loss)
Non-operating income
Interest income
Dividend income
Purchase discounts
Share of profit of entities accounted for using equity
methodDistributions from investments
Other
Total non-operating income
Non-operating expenses
Interest expenses
Financing expenses
Provision of allowance for doubtful accounts for
subsidiaries and associates
Other
Total non-operating expenses
Ordinary profit (loss)

10

13

27

176

116

3,634

11,218

Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

(Unit: millions of yen)Previous consolidated fiscal year
(April 1, 2021 to March 31, 2022)

Current consolidated fiscal year
(April 1, 2022 to March 31, 2023)

304
2
231
2

1
0

541

1

56
24
46
105
3

38
46
7
0

Extraordinary income
Gain on sale of shares of subsidiaries and associates
Gain on sale of non-current assets
Gain on sale of investment securities
Other
Total extraordinary income
Extraordinary losses
Loss on sale of shares of subsidiaries and associates
Loss on retirement of non-current assets
Loss on sale of membership
Loss on litigation
Losses from coronavirus disease (COVID-19)
Loss on liquidation of business
Other
Total extraordinary losses

234

91

Profit (loss) before income taxes

3,941

11,127

698
104

1,963
(859)

Income taxes – current
Income taxes – deferred
Total income taxes
Profit (loss)
Profit attributable to non-controlling interests
Profit attributable to owners of parent

11

803

1,103

3,137

10,024

666

1,802

2,471

8,221

Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

Consolidated statement of comprehensive income(Unit: millions of yen)Previous consolidated fiscal year
(April 1, 2021 to March 31, 2022)

Current consolidated fiscal year
(April 1, 2022 to March 31, 2023)

3,137

10,024

(95)
0
3

1,174
0
8

Profit (loss)
Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax

(91)

1,183

Comprehensive income

Total other comprehensive income

3,046

11,207

Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to noncontrolling interests

2,377

9,406

669

1,801

12

Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

(3) Consolidated statement of change in equity
Previous fiscal year (April 1, 2021 to March 31, 2022)(Unit: millions of yen)
Shareholders’ equity
Share capital
Balance at beginning of period

Capital surplus

7,948

7,579

Cumulative effects of changes

Treasury shares

16,104(1,946)equity(1,441)in accounting policies
Restated balance

Total shareholders’

Retained earnings

7,948

7,579

29,686(1,441)

14,663(1,946)28,245

Changes during period
Dividends of surplus
Profit (loss) attributable toowners of parent

(323)

(323)

2,471

2,471

Purchase of treasury shares-

Disposal of treasury shares-

Purchase of shares of(3)

consolidated subsidiaries
Change in scope of

(3)
(39)

consolidation(39)

Change due to new-consolidation
Net changes in items otherthan shareholders’ equity
Total changes during period
Balance at end of period

-

(3)

2,107

-

2,104

7,948

7,576

16,771(1,946)30,349Total accumulated

Share acquisitionNon-controllingother comprehensive

rightsinterests

Accumulated other comprehensive income
Valuation difference
on available-for-salesecurities
Balance at beginning of period

116

Foreign currency

Remeasurements oftranslation adjustment defined benefit plans
1(0)income117

7

Cumulative effects of changes
in accounting policies
Restated balance

116

1

(0)

Total net assets

117

7

632

30,443(146)(1,587)486

28,856

Changes during period
Dividends of surplus(323)

Profit (loss) attributable to2,471

owners of parent
Purchase of treasury shares-

Disposal of treasury shares-

Purchase of shares of(3)

consolidated subsidiaries
Change in scope of(39)

consolidation
Change due to new-consolidation
Net changes in items other

(98)

0

3

(93)

21

663

591

Total changes during period

(98)

0

3

(93)

21

663

2,695

Balance at end of period

18

1

3

23

28

1,150

31,551than shareholders’ equity

13Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

Current consolidated fiscal year (April 1, 2022 to March 31, 2023)(Unit: millions of yen)
Shareholders’ equity
Share capital
Balance at beginning of period

Capital surplus

7,948

7,576

Retained earnings

Treasury shares

16,771(1,946)

Total shareholders’equity30,349Cumulative effects of changes-

in accounting policies
Restated balance

7,948

7,576

16,771(1,946)30,349Changes during period
Dividends of surplus
Profit (loss) attributable toowners of parent

(646)

(646)

8,221

8,221

Purchase of treasury shares
Disposal of treasury shares(128)

Purchase of shares of

(0)

(0)

302

173

(191)

consolidated subsidiaries(191)

Change in scope of-

consolidation
Change due to new5consolidation

5

Net changes in items otherthan shareholders’ equity
Total changes during period
Balance at end of period

-

(185)

7,446

301

7,562

7,948

7,390

24,217(1,644)37,912

Total accumulated

Share acquisitionNon-controllingother comprehensive

rightsinterests

Accumulated other comprehensive income
Valuation difference
on available-for-salesecurities
Balance at beginning of period

18

Foreign currency

Remeasurements oftranslation adjustment defined benefit plans
1

3income
23

28

1,150

Cumulative effects of changes

31,551-in accounting policies
Restated balance

Total net assets

18

1

3

23

28

1,150

31,551

Changes during period
Dividends of surplus(646)

Profit (loss) attributable to8,221

owners of parent
Purchase of treasury shares(0)

Disposal of treasury shares

173

Purchase of shares of(191)

consolidated subsidiaries
Change in scope of-

consolidation
Change due to new5consolidation
Net changes in items other

1,175

(0)

8

1,184

17

1,500

2,702

Total changes during period

1,175

(0)

8

1,184

17

1,500

10,265

Balance at end of period

1,194

1

12

1,208

45

2,651

41,817than shareholders’ equity

14Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

(4) Consolidated statements of cash flows(Unit: millions of yen)Previous consolidated fiscal year
(April 1, 2021 to March 31, 2022)

Current consolidated fiscal year
(April 1, 2022 to March 31, 2023)

3,941
737
252
18
3

11,127
781
260
(106)
(18)

31

113

41
(4)
(157)

(19)
(9)
(129)

(59)

(90)

77
361

79
797

(304)

38

(231)
(7,644)
666
(2)
(585)
55
3
9,433
(170)
240

551
2,330
(1)
(229)
(3)
(90)
(631)
(1,105)
676

486

797

602
526

(640)
(632)

Subtotal

8,321

13,844

Interest and dividends received
Interest paid
Income taxes refund (paid)

5
(77)
(268)

9
(79)
(1,213)

Net cash provided by (used in) operating activities

7,980

12,561

Cash flows from operating activities
Profit (loss) before income taxes
Depreciation
Amortization of goodwill
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for bonuses for
directors (and other officers)
Increase (decrease) in retirement benefit liability
Interest and dividend income
Purchase discounts
Share of loss (profit) of entities accounted for using
equity method
Interest expenses
Investments in capital depreciation
Loss (gain) on sale of shares of subsidiaries andassociates
Loss (gain) on sale of investment securities
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Loss (gain) on sale of non-current assets
Decrease (increase) in accounts receivable - other
Decrease (increase) in prepaid expenses
Decrease (increase) in advances paid
Increase (decrease) in trade payables
Increase (decrease) in relating to paid-in transactions
Increase (decrease) in accounts payable - other
Increase/decrease in consumption taxes
payable/consumption taxes refund receivable
Increase (decrease) in deposits received
Other, net

15

Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

(Unit: millions of yen)Previous consolidated fiscal year
(April 1, 2021 to March 31, 2022)

Current consolidated fiscal year
(April 1, 2022 to March 31, 2023)

(943)
2
(243)
(70)
492
109
(10)

(812)
4
(531)
(5,126)
79-

Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sale of investment securities
Proceeds from redemption of investment securities
Purchase of shares of subsidiaries and associates
Proceeds from sale of shares of subsidiaries andassociates
Payments for investments in capital
Loan advances
Proceeds from collection of loans receivable
Payments of leasehold and guarantee deposits
Proceeds from refund of leasehold and guarantee deposits
Other, net

502

273

(1,475)
(0)
56
(0)
109
(113)

(1,012)
(483)
18
(25)
14
(42)

Net cash provided by (used in) investing activities(1,586)(7,642)946(4,063)
4,858
(322)

5,349
(5,051)
(645)

(9)

(486)

Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Repayments of long-term borrowings
Proceeds from long-term borrowings
Dividends paid
Purchase of shares of subsidiaries not resulting inchange in scope of consolidation
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents

(24)

109

1,385

(725)

0

(0)

Net increase (decrease) in cash and cash equivalents

7,779

4,193

Cash and cash equivalents at beginning of period
Increase in cash and cash equivalents resulting from
inclusion of subsidiaries in consolidation
Cash and cash equivalents at end of period

24,51032,30414-

32,30436,49716

Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

(5) Note regarding the consolidated financial statements(Notes regarding the operation of the company as a going concern)
Not applicable.
(Changes in accounting policies)(Application of Implementation Guidance on Accounting Standard for Fair Value Measurement)
The Company has applied the “Implementation Guidance on Accounting Standard for Fair Value Measurement” (ASBJ
Guidance No. 31, June 17, 2021) etc. from the beginning of the current fiscal year and will apply the new accounting policy
stipulated by the Implementation Guidance on Accounting Standard for Fair Value Measurement in accordance with thetransitional treatment stipulated in paragraph 27-2 of the Implementation Guidance on Accounting Standard for Fair Value
Measurement in the future. There is no impact on the consolidated financial statements.
(Changes in presentation method)(Consolidated statement of cash flows)“Decrease (increase) in accounts receivable – other” and “Increase (decrease) in relating to paid-in transactions” which were
included in “Other, net” under “Cash flows from operating activities” in the previous fiscal year have been presented separatelyfrom the current fiscal year due to an increase in their monetary materiality. To reflect this change in presentation, theconsolidated financial statements for the previous fiscal year have been reclassified.
Consequently, in statement of cash flows for the previous fiscal year, ¥ (230) million of presented in “Other, net” under “Cashflows from operating activities” has been reclassified as ¥ (585) million of “Decrease (increase) in accounts receivable – other,”¥ (170) million of “Increase (decrease) in liabilities relating to paid-in transactions” and ¥526 million of “Other, net.”“Purchase of shares of subsidiaries not resulting in change in scope of consolidation”, which was included in “Other, net”
under “Cash flows from investing activities” in the previous fiscal year, has been presented separately from the current fiscal
year due to an increase in its monetary materiality. To reflect this change in presentation, the consolidated financial statements
for the previous fiscal year have been reclassified.
Accordingly, ¥ (33) million, which was included in “Other, net” under “Cash flows from financing activities” in statement ofcash flows for the previous fiscal year, has been reclassified as ¥ (9) million for “Purchase of shares of subsidiaries not resulting
in change in scope of consolidation” and ¥ (24) million for “Other, net.”(Changes in accounting estimates)
During the fiscal year under review, estimates of asset retirement obligations, which are recorded as an obligation to restore
properties to their original condition associated with real estate lease contracts, were revised as new information on the costs ofrestoring properties to their original condition was obtained. The increased amount of ¥412 million due to the change in estimate
has been added to asset retirement obligations balance prior to the change.
These changes in estimates were made at the end of the fiscal year under review, so there was no impact on the Company’s
earnings for the fiscal year under review.

17Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

(Business combinations)(Transactions under common control)
Transition to a holding company structure through an incorporation-type company split
Based on the resolution of director meeting held on May 18, 2022 and the 34th annual general meeting of shareholders heldon June 22, 2022, we implemented an incorporation-type company split with an effective date of October 3, 2022.
Accordingly, our corporate name was changed to “TSUBURAYA FIELDS HOLDINGS INC.” on the same date.
(1) Summary of transactions
I.

Name of the subject business and the content of the business
Name and description of business: PS machine planning/development/sales business (including ancillarybusiness)II.

Date of business combination
October 3, 2022

III.

Statutory form of business combination
New incorporation-type company split in which we became a spin-off company and the newly established“FIELDS CORPORATION” as a successor company

IV.

Name following business combination
FIELDS CORPORATION (our consolidated affiliate)V.

Summary of other transactions
In October 2022, we integrated our group companies under the holding company TSUBURAYA FIELDSHOLDINGS INC. and shifted to a new structure to realize our corporate philosophy of The Greatest Leisure
for All People.
In an environment where the value of Intellectual Property (IP) is expected to increase further in the future,under the holding company structure, we have revised the single segment centered on IP and established abusiness structure with two core business segments: the content and digital business segment, which is
responsible for the dynamic promotion of growth potential, and PS business segment, which is responsible
for profitability.
The establishment of a holding company structure has also made it possible for the group to implement
flexible decision-making and management strategies. The holding company plays mainly the following roles.
i. Strategic investments and business alliances

We will strategically invest in businesses such as digital businesses and create and nurture globallycompetitive IP. The holding company is also responsible for promoting business alliances and capital tieups with companies that seek to generate synergies.
ii. Maximization of the group’s corporate value

The holding company will formulate and promote aggressive and innovative management strategies, andsupport each operating company under these strategies to encourage the creation and expansion of groupsynergies. Through these efforts, we will strive to maximize the group’s corporate value.
(2) Accounting method

The transaction is accounted for as a transaction under common control in accordance with the “Accounting Standard
for Business Combinations” (ASBJ Statement No. 21, January 16, 2019), “Accounting Standard for Business
Divestitures” (ASBJ Statement No. 7, September 13, 2013) and “Implementation Guidance on Accounting Standard forBusiness Combinations and Accounting Standard for Business Divestitures” (ASBJ Guidance No. 10, January 16, 2019).

18

Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

(Segment information, etc.)[Segment information]
1.

The outline of any reporting segment
The reporting segments of the Company are components of the Group for which separate financial data is available andwhich are regularly reviewed by board of directors to determine resource allocation and assess performance.
Our group comprises segments by products and services handled by the operating companies. We have two reportablesegments: content and digital, and PS.
The content and digital business segment plans, produces, and distributes visual products and engages in merchandise andadvertising licensing. PS segment plans, develops, manufactures, and sells PS machine.
In each business, the company which serves as the business controlling company is the center of planning and promoting
business strategies in Japan and overseas.

2.

Methods of measuring net sales, profit (loss) and assets etc. of reporting segments
The accounting method for the reporting segments is the same as the accounting method used in the preparation of theconsolidated financial statements.
Income of reporting segments is based on operating profit.

3.

Information on net sales and profit (loss) and assets etc.by reporting segment
Previous fiscal year (April 1, 2021, to March 31, 2022)(Unit: millions of yen)
Reportable segments
Content andPS businessdigitalbusiness

Other(Note 1)

Total

Adjusted
amount(Note 2)

Total

Carrying
value(Note 3)

Net sales
Net sales to externalcustomers
Intersegment net sales ortransfers

8,851

83,71592,5672,333

94,900―94,900

254

―

254

1

255

(255)

―

Total

9,105

83,71592,821

2,335

95,156(255)

94,900

Segment profit

1,465

1,750

3,216

92

3,308

136

3,444

Segment assets

8,160

62,56470,7252,030

72,755(2,754)70,001

246

391

638

99

737

―

737

Other items
Depreciation

Amortized amount of
―
252
252
―
252
―
252
goodwill
Investment amount to
―
33
33
681
715
―
715
equity-method affiliates
Increase in property, plantand equipment and
938
302
1,240
8
1,249
―
1,249
intangible assets additions(Note) 1. “Other” is a business segment that is not included in reporting segments and includes fitness business, etc.
2. Adjusted amounts are as follows.
(1) ¥136 million for adjustment to segment profit includes ¥136 million for the elimination of intersegment
transactions.
(2) ¥ (2,754) million for adjustment to segment assets includes ¥ (2,754) million for the elimination ofintersegment transactions.
3. Segment profit is adjusted with operating profit of consolidated statement of income.

19

Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

Current fiscal year (April 1, 2022 to March 31, 2023)(Unit: millions of yen)
Reportable segments
Content andPS businessdigitalbusiness

Other(Note 1)

Total

Total

Adjusted
amount(Note 2)Carrying
value(Note 3)

Net sales
Net sales to externalcustomers
Intersegment net sales ortransfers

14,029100,805

114,835

2,290

117,125―

117,125

503

3

506

14

521

(521)

―

Total

14,532

100,808

115,341

2,305

117,646(521)

117,125

Segment profit

4,378

7,714

12,09275

12,168(1,218)

10,950

Segment assets

13,01944,83557,854

1,416

59,271

21,62180,893

343

359

703

32

735

45

781

Other items
Depreciation

Amortized amount of
―
260
260
―
260
―
260
goodwill
Investment amount to
―
36
36
454
491
―
491
equity-method affiliates
Increase in property, plantand equipment and
867
344
1,211
9
1,220
305
1,526
intangible assets additions(Note) 1. “Other” is a business segment that is not included in reporting segments and includes fitness business, etc.
2. Adjusted amounts are as follows.
(1)¥ (1,218) million for adjustment to segment profit includes ¥ (26) million for the elimination of intersegment
transactions and ¥ (1,191) million for corporate expenses that are not allocated to individual reporting
segments.
(2)¥21,621 million for adjustment to segment assets includes ¥ (8,693) million for the elimination of intersegment
transactions and ¥30,315 million for corporate assets not allocated to the respective reporting segments.
(3)¥45 million for adjusted amount of depreciation is depreciation related to corporate assets not allocated toreporting segments.
(4)¥305 million for adjusted amount to the increase in property, plant and equipment and intangible assets relates tocorporate assets that is not allocated to reporting segments
3. Segment profit is adjusted with operating profit of consolidated statement of income.
4.

Changes in reporting segments
As a result of the transition to a holding company structure implemented on October 3, 2022, we have changed from theprevious a single segment to two reporting segments, the contents and digital business and PS business, from the third quarterof the fiscal year under review.
Segment information for the previous fiscal year is prepared based on the classification of reporting segments for the current
fiscal year.
(Per share information)
Previous consolidated fiscal year
(April 1, 2021 to March 31, 2022)

Current consolidated fiscal year
(April 1, 2022 to March 31, 2023)

Net assets per share¥469.71¥598.18

Profit (loss) per share¥38.21¥126.70

Diluted profit (loss) per share¥38.09¥125.74

Item(Note) 1. On March 21, 2023, we conducted a 2-for-1 stock split of our common share. Accordingly, per share information is
calculated on the assumption that the stock split was conducted at the beginning of the previous fiscal year.
2. The basis for calculating profit per share or loss per share is as follows:
Previous consolidated fiscal year
(April 1, 2021 to March 31, 2022)

Item
Profit per share or loss per share
20

Current consolidated fiscal year
(April 1, 2022 to March 31, 2023)

Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

Profit (loss) attributable to owners of parent(millions of yen)

2,471

8,221

―

―

Profit (loss) attributable to owners of parent attributable
to common share (millions of yen)

2,471

8,221

Average number of shares of common stock outstanding
during the period (shares)

64,663,400

64,891,355――

209,120

497,578――

Amounts not attributable to common shareholders(millions of yen)

Diluted profit (loss) per share
Adjustment of profit attributable to owners of parent(millions of yen)
Increase in common share (shares)
Outline of dilutive shares not included in the calculation ofdiluted profit per share because they have no dilutive effect(Significant subsequent events)
Not applicable.

21