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.

May 15, 2024

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2024
(Under Japanese GAAP)
Company name:
Listing:
Securities code:
URL:
Representative:
Inquiries:

Benesse Holdings,Inc.
Prime Market9783
https://www.benesse-hd.co.jp/en/
Hitoshi Kobayashi, Representative Director and President, CEO
Shinsuke Tsuboi, Managing Executive Officer, CFO, Executive General Manager of Financeand Accounting
Telephone:+81-42-357-3656
Scheduled date of annual general meeting of shareholders:June 3, 2024
Scheduled date to commence dividend payments:
Scheduled date to file annual securities report:
June 27, 2024
Preparation of supplementary material on financial results:
Yes
Holding of financial results briefing:
None(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the fiscal year ended March 31, 2024 (from April 1, 2023 to March 31,2024)(1) Consolidated operating results(Percentages indicate year-on-year changes.)

Net sales
Fiscal year ended

Operating income

Net income attributableto owners of the parent

Ordinary income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%March 31, 2024

410,815(0.3)

20,232(1.9)

15,412(3.0)

6,442(43.3)

March 31, 2023

411,876(4.6)

20,6202.2

15,896

3.2

11,353966.8

Note: Comprehensive income

For the fiscal year ended March 31, 2024:
For the fiscal year ended March 31, 2023:

Basic earnings
per share

Diluted earnings
per share¥ 10,467 million¥ 10,907million[(4.0) %][24.3 %]

Ratio of ordinary
income to totalassets

Return on equity

Ratio of operating
income to net sales

YenYen%%%March 31, 2024

66.78－

4.1

2.9

4.9

March 31, 2023

117.73

－

7.5

2.9

5.0

Fiscal year ended

Reference:

Share of income (loss) of entities accounted for using equity method
For the fiscal year ended March 31, 2024:¥218 million
For the fiscal year ended March 31, 2023:¥336 million(2) Consolidated financial position
Total assets
As ofNet assets

Equity-to-asset ratio

Net assets per share

Millions of yen

March 31, 2024

528,391

165,67830.0

1,642.88

March 31, 2023

541,560

161,25428.5

1,600.00

Reference:

EquityAs of March 31, 2024:
As of March 31, 2023:¥ 158,506 million¥ 154,305 million%

Yen

Millions of yen

(3) Consolidated cash flows
Cash flows fromoperating activities
Fiscal year ended

Cash flows frominvesting activities

Cash and cash
equivalents at end of
periodCash flows fromfinancing activities

Millions of yen

Millions of yen

Millions of yen

Millions of yen

March 31, 2024

26,043

16,940(33,077)

114,111

March 31, 2023

22,144(18,971)(14,617)

103,547

2. Cash dividends
Annual dividends per share
First
SecondThirdquarter-end quarter-end quarter-end
Fiscal year ended

March 31, 2023
Fiscal year ended

March 31, 2024

Fiscalyear-end

Total cash
dividends(Total)

Total

Yen

Yen

Yen

Yen

Yen Millions of yen－30.00

－

30.00

60.00

－

30.00

－

0.00

30.00

－－－－－

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

5,786

51.0

3.8

2,894

44.9

1.9Fiscal year ending

March 31, 2025－(Forecast)

Note: As described in "Notice Regarding the Result of the Tender Offer for the Company’s Share Certificates, Etc. by Bloom 1 K.K.
and the Change of the Parent Company and Largest Major Shareholder” dated March 5, 2024, as a result of the Offeror's tender offer
for ordinary shares of the Company and the American Depositary Receipts and a series of subsequent transactions, the Company'sshares are scheduled to be delisted on May 17, 2024. Therefore, cash dividends forecast for the fiscal year ending March 31, 2025 is
not provided.

3. Forecast of consolidated financial results for the year ending March 31, 2025 (from April 1, 2024 toMarch 31, 2025)
As described in “Notice Regarding the Result of the Tender Offer for the Company’s Share Certificates, Etc. byBloom 1 K.K. and the Change of the Parent Company and Largest Major Shareholder” dated March 5, 2024, as aresult of the Offeror's tender offer for ordinary shares of the Company and the American Depositary Receipts anda series of subsequent transactions, the Company's shares are scheduled to be delisted on May 17, 2024. Therefore,
consolidated earnings forecast for the fiscal year ending March 31, 2025 is not provided.

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change
in scope of consolidation): Yes
New: - Company name: Exclusion: 1 Company name: Benesse InfoShell Co., Ltd.
(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: None(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(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, 2024

102,648,129 shares

As of March 31, 2023

102,604,773 shares(ii) Number of treasury shares at the end of the period
As of March 31, 2024

6,167,235 shares

As of March 31, 2023

6,163,618 shares(iii) Average number of shares outstanding during the period
Fiscal year ended March 31, 2024

96,469,067 sharesFiscal year ended March 31, 202396,430,255 shares[Reference] Overview of non-consolidated financial results
1. Non-consolidated financial results for the fiscal year ended March 31, 2024 (from April 1, 2023 toMarch 31, 2024)(1) Non-consolidated operating results(Percentages indicate year-on-year changes.)

Net sales
Fiscal year ended

Operating income

Millions of yen%March 31, 2024

14,454

March 31, 2023

17,976

Millions of yen%

(19.6)

5,631

23.8

10,478

Basic earnings
per share
Fiscal year ended

Ordinary income

Net income

Millions of yen%

Millions of yen%

(46.3)

7,20154.1

11,443(37.1)

6,119(52.6)

46.4

12,907－

Diluted earnings
per share
Yen

Yen

March 31, 2024

63.44－March 31, 2023

133.85－(2) Non-consolidated financial position
Total assets
As ofNet assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen

March 31, 2024

148,271

121,09481.7

1,255.11

March 31, 2023

168,865

118,91570.4

1,232.76

Reference:

EquityAs of March 31, 2024:
As of March 31, 2023:%¥121,094 million¥118,888 million* Financial results reports are exempt from audit conducted by certified public accountants or an audit
corporation.

Yen* Proper use of earnings forecasts, and other special matters
As described in "Notice Regarding the Result of the Tender Offer for the Company’s Share Certificates, Etc. byBloom 1 K.K. and the Change of the Parent Company and Largest Major Shareholder” dated March 5, 2024, asa result of the Offeror's tender offer for ordinary shares of the Company and the American Depositary Receipts
and a series of subsequent transactions, the Company's shares are scheduled to be delisted on May 17, 2024.
Therefore, consolidated earnings forecast for the fiscal year ending March 31, 2025 is not provided.