Balance Sheets
As of March 31, 2023 and 2024
Millions of yen
2023

Thousands of U.S. dollars
2024

※2024

[Assets]¥216,488
2,002
8,623
196,412
461
5,312
3,681
(6)

¥277,186
3,114
6,103
253,915
523
9,344
4,188
(4)

$1,830,698
20,56740,308
1,677,003
3,454
61,713
27,660(26)

Investment securities

400,902
194,443
59,430508
14364
125,997
8,127
1,009
543
466
205,450
86,282452,011
197,475
57,379472
9633
113,019
25,961
1,161
543
618
253,374
87,301

2,985,344
1,304,240
378,9643,117
59
4,181
746,443
171,462
7,668
3,586
4,082
1,673,430
576,587

Shares of subsidiaries and associates

61,70992,844

613,196

Investments in other securities ofsubsidiaries and associates

49,60861,363405,277

2,613
5,255
(19)

2,920
8,955
(11)

19,28559,144(73)

617,391

729,197

4,816,043

Current assets
Cash and deposits
Accounts receivable
Land and buildings for sale
Prepaid expenses
Short-term loans receivable
Other
Allowance for doubtful accounts
Non-current assets
Property, plant and equipment
Buildings
StructuresVehicles
Tools, furniture and fixtures
LandConstruction in progress
Intangible assets
Leasehold right
Other
Investments and other assets

Guarantee deposits
Other
Allowance for doubtful accounts
Total assets※The U.S. dollar amounts have been translated, for convenience only, at 151.41 yen=US$1, the Telegraphic Transfer Middle Rate on MUFG Bank, Ltd. as of March 29, 2024.

-1-Balance Sheets
As of March 31, 2023 and 2024
Millions of yen
2023

Thousands of U.S. dollars
2024

※2024

[Liabilities]¥215,120
185,000
18,587
435
1,553
6,276
3,157
110
245,773201,900
19,897
20,3482,105
1,521¥257,160
210,800
28,726
2,452
11,503
3,529
148
310,330
266,100
20,27819,1742,283
2,494

75,97323,308977
2,049,600
1,757,480
133,928
126,636
15,07816,472

460,893

567,4903,748,035

104,817
12,426
12,242
12,24280,148
1,437
78,710110,689
12,426
12,242
12,24286,0191,437
84,582731,055
82,06980,85380,853568,120
9,491
558,629

483

471

3,111

88

88

581

Retained earnings brought forward

78,13984,023554,937

Valuation and translation adjustments

51,68051,017

336,946

51,68051,017

336,946

156,498
617,391

161,706
729,197

1,068,001
4,816,043

Current liabilities
Short-term loans payable
Accounts payable
Income taxes payable
Accrued consumption taxes
Advances received
Deposits received
Provision for bonuses
Non-current liabilities
Long-term loans payable
Guarantee deposits received
Deferred tax liabilities
Provision for retirement benefits
Other
Total liabilities$1,698,435
1,392,246
189,723
16,194--[Net assets]
Shareholders’ equity
Capital stock
Capital surplusLegal capital surplus
Retained earnings
Legal retained earnings
Other retained earnings
Reserve for advanced depreciation ofnon-current assets
General reserve

Valuation difference on available-for-salesecurities
Total net assets
Total liabilities and net assets※The U.S. dollar amounts have been translated, for convenience only, at 151.41 yen=US$1, the Telegraphic Transfer Middle Rate on MUFG Bank, Ltd. as of March 29, 2024.

-2-

Statements of Income
Years ended March 31, 2023 and 2024
Millions of yen2023
Operating revenue
Land and building rental revenue
Land and building sales revenue
Operating cost
Operating gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest and dividend income
Miscellaneous income
Non-operating expenses
Interest expenses

2024¥126,880
24,691102,188
101,603
25,277
13,96911,307
1,638
1,376
262
2,626
2,325
-

Loss related to Higashi Hankyu Building
Miscellaneous loss
Ordinary profit
Extraordinary losses
Impairment loss
Profit before income taxes
Income taxes - current
Income taxes - deferred
ProfitThousands of U.S. dollars

301
10,319
1,244
1,244
9,074
3,013(424)
6,486

※

2024

¥136,375
26,470109,905
104,123
32,251
16,045
16,206
2,075
1,674
401
3,267
2,799
215
252
15,014$900,700
174,823
725,877
687,689
213,004
105,971
107,034
13,705
11,056
2,648
21,57718,486
1,420
1,664
99,161--

15,014
4,835(881)
11,06099,161
31,933(5,819)73,047※The U.S. dollar amounts have been translated, for convenience only, at 151.41 yen=US$1, the Telegraphic Transfer Middle Rate on MUFG Bank, Ltd. as of March 29, 2024.

-3-

Statements of Changes in Net Assets
As of March 31, 2023 and 2024
(Unit: Millions of yen)
Valuation and translation
adjustments

Shareholders’ equity
Capital surplus

Retained earnings
Other retained earnings

Capital stock

Balance as of March 31, 2022

¥12,426

Reserve foradvanceddepreciation ofnon-current
assets

Earnings
reserve

Capital reserve

Total capitalsurplus¥12,242¥12,242¥1,437¥496

Total retainedearnings

Retainedearnings
brought
forwardGeneralreserve¥88

Total
shareholders’equity¥78,172¥80,194¥104,863(6,531)(6,531)6,486
12Valuation
Total valuation Total net assets
difference onand translation
available-foradjustments
sale securities¥47,297¥47,297¥152,160(6,531)-(6,531)

6,486

6,486

-

6,486

-

--

-

-

-

4,383

4,383

4,383

(33)

(45)

(45)

4,383

4,383

4,337

78,13980,148104,817

51,68051,680156,498

Changes of items during period
Dividend of surplus
ProfitReversal of reserve for advancedepreciation of non-current assets(12)

Net changes of items other thanshareholders' equity(12)

Total changes of items during period
Balance as of March 31, 202312,426

12,242

12,242

1,437

483

88

Changes of items during period
Dividend of surplus-(5,189)(5,189)(5,189)-(5,189)Profit-11,06011,06011,060-11,060

Reversal of reserve for advancedepreciation of non-current assets

-

12

-

-

-

-

Net changes of items other thanshareholders' equity

-

-

-

(663)

(663)

(663)

-

-

-

-

(12)

-

5,884

5,871

5,871

(663)

(663)

5,208

12,426

12,242

12,242

1,437

471

88

84,02386,019110,689

51,01751,017

161,706

Total changes of items during period
Balance as of March 31, 2024

(12)

(Unit: Thousands of U.S. dollars※)
Valuation and translation
adjustments

Shareholders’ equity
Retained earnings

Capital surplus

Other retained earnings
Capital stock

Balance as of March 31, 2023

$82,069

Reserve foradvanceddepreciation ofnon-current
assets

Earnings
reserve

Capital reserve

Total capitalsurplus$80,853$80,853$9,491$3,190Total retained
earnings

Retainedearnings
brought
forwardGeneralreserve$581

Totalshareholders’equity$516,076$529,344$692,273

Valuation
Total valuation Total net assets
difference onand translation
available-foradjustments
sale securities$341,325$341,325$1,033,604

Changes of items during period
Dividend of surplus-(34,271)(34,271)(34,271)-(34,271)

Profit-73,04773,04773,047-73,047

Reversal of reserve for advancedepreciation of non-current assets

-79

-

-

-

-

Net changes of items other thanshareholders' equity

-

-

-

(4,379)(4,379)(4,379)Total changes of items during period
Balance as of March 31, 2024

(79)

--

--

(79)

-38,861

38,776

38,776(4,379)(4,379)34,39782,06980,85380,853

9,491

3,111

581

554,937

568,120731,055

336,946

336,946

1,068,001※The U.S. dollar amounts have been translated, for convenience only, at 151.41 yen=US$1, the Telegraphic Transfer Middle Rate on MUFG Bank, Ltd. as of March 29, 2024.

These financial statements in English are based on information in the company’s accounts for the 75th term audited by KPMG AZSA LLC. This information is presented in a manner consistent withthe data published in the announcement of financial results. However, these financial statements in English have not been audited by KPMG AZSA LLC.

-4-