Note:

Please note that this document is a Japanese-English translation of the summary of the official announcement inJapanese “Kessan Tanshin” for reference purposes only.

Summary of Consolidated Financial Results
For the Fiscal Year Ended September 30, 2016 〔Based on Japanese GAAP〕

November 14, 2016
Open House Co., Ltd.
Tokyo Stock Exchange, First section
3288
http://openhouse-group.com/ir
Masaaki Arai, President and CEO
December 21, 2016
December 22, 2016
December 22, 2016
Yes
Yes （for institutional investors and analysts, in Japanese)

Company name:
Stock exchange listings:
Code Number:
URL:
Representative:
Scheduled date of annual general meeting of shareholders :Scheduled date of dividends:
Scheduled date of annual securities report filing:
Supplementary materials for financial results:
Results briefing meeting :(Million yen, rounded down)

1.

Consolidated Financial Results for the fiscal year ended September 30, 2016
(October 1, 2015 to September 30, 2016)(1) Consolidated Operating Results(% figures indicate year-on-year change)

Revenue
Million yen

Operating income%

Million yen%

Million yen

FY 2016
247,21037.9
31,32047.0
FY 2015
179,31759.9
21,30055.0(Note) Comprehensive income: From October 1, 2015 to September 30, 2016
From October 1, 2014 to September 30, 2015
EPS

Diluted EPS
YenProfit attributable toowners of parent

Ordinary income%

Million yen

ROE%

FY 2016332.08330.5633.7
FY 2015222.07221.86
29.9(Reference) Equity in net income of affiliated companies: As of September 30, 2016:
As of September 30, 2015:

48.1
62.8

Operating income
Margin

ROA

Yen

%

29,15443.7
18,70920,294
57.5
12,637¥ 18,733 million (48.4%)¥ 12,626 million (62.6%)

%

%

15.9
15.4
¥ － million¥ － million

12.7
11.9

(Note) The Company conducted a 2-for-1 stock split of common stock with an effective date of July 1, 2015. EPS and Diluted EPS
calculated assuming the stock split was conducted at the beginning of the previous fiscal year.

(2) Consolidated Financial Position
Total assets
September 30, 2016
September 30, 2015
(Reference) Shareholders’ equity:

Million yen

Net assets

204,868
162,447
As of September 30, 2016:
As of September 30, 2015:

Million yen

Equity ratio

64,08447,609¥ 63,708 million¥ 47,453 million

Net assets per share
%

31.1
29.2

Yen

1,133.92
838.59(Note) The Company conducted a 2-for-1 stock split of common stock with an effective date of July 1, 2015. Net assets per sharecalculated assuming the stock split was conducted at the beginning of the previous fiscal year.

(3) Consolidated Cash Flows
Cash flows fromoperating activities
FY 2016
FY 2015

Million yen

9,817(15,216)

Cash flows frominvesting activities
Million yen(2,672)
1,769

Cash flows fromfinancing activities
Million yen

17,33232,290Cash and cash
equivalents at FY end
Million yen

67,50843,325

Open House Co., Ltd. (3288)

1|

2.

Dividends
Annual dividends per share
1Q-end2Q-end3Q-endYear-end

Total

Yen
―
―
―

Yen
0.00
0.00
30.00

Yen
―
―
―

Yen
30.00
50.00
30.00

Yen
30.00
50.00
60.00

FY 2015
FY 2016
FY 2017 (Forecast)3.

Dividend on
Total dividends Payout ratio
equity(Consolidated)(Annual)(Consolidated)
Million yen
1,697
2,809

%
4.0
5.1

15.3

Forecast of Consolidated Operating Results for FY2017(October 1, 2016 to September 30, 2017)
Revenue

%
13.5
15.1

(% figures indicate year-on-year change)

Operating income

Ordinary income

Profit attributable toowners of parent

EPS

Million yen%

Million yen%

Million yen%

Million yen%

Yen138,000
300,000

17.8
21.4

16,70035,00010.2
11.7

16,20034,00010.2
16.6

10,50022,00011.4
17.6

186.89391.57(Changes in specific subsidiaries resulting in a change in the scope of consolidation):None

2Q (Cumulative)
Full year*Notes:(1) Significant changes in consolidated subsidiaries during the period(2) Changes in accounting policies, changes of accounting estimates, and revisions and restatementsⅰ) Changes in accounting policies in accordance with changes in accounting principles: Yesⅱ) Changes in accounting policies other than the above:Noneⅲ) Changes in accounting estimates:

Noneⅳ) Revisions and restatements:

None(3) Number of shares issued and outstanding (common stock)ⅰ) Number of shares issued at period-end (including treasury stock)
September 30, 2016:

57,400,000 shares

September 30, 2015:

57,400,000 shares

September 30, 2015:

813,257 shares

September 30, 2015:

56,905,990 sharesⅱ) Treasury stock at period-end
September 30, 2016:

1,215,836 sharesⅲ) Average number of shares issued
September 30, 2016:

56,340,693 shares

Note) The Company conducted a 2-for-1 stock split of common stock with an effective date of July 1, 2015.
Number of shares issued and outstanding (common stock) calculated assuming the stock split was conducted at the
beginning of the previous fiscal year.

Open House Co., Ltd. (3288)

2|

[Reference] Non-Consolidated Financial Results for the fiscal year ended September 30, 2016
(October 1, 2015 to September 30, 2016)(1) Non-Consolidated Operating Results
Operating revenue
FY 2016
FY 2015

Million yen

8,528
7,255

(% figures indicate year-on-year change)

Operating income
%

17.5
26.7

EPS

%

2,592
2,289

13.2
26.0

Million yen

5,720
2,646

Net income
%

116.2
21.0

Million yen

%

5,040
1,678

200.4
22.3

Diluted EPSYen

FY 2016
FY 2015

Yen

89.47
29.49

(2) Non-Consolidated Financial Position
Total assets
September 30, 2016
September 30, 2015
(Reference) Shareholders’ equity:

Million yen

Ordinary income

Million yen

89.06
29.47

Net assets

44,67023,173As of September 30, 2016:
As of September 30, 2015:

Million yen

16,65013,871¥ 16,274 million¥ 13,714 million

Equity ratio

Net assets per share
%

36.4
59.2

Yen

289.66242.36* Notes regarding forward-looking statements:
Consolidated business forecasts are based on assumptions from information available to management at the time of
disclosure and those deemed to be reasonable.
Actual results may differ significantly from forecast due to various unpredictable reasons.

Open House Co., Ltd. (3288)

3|

Consolidated Financial Statements1）Consolidated Balance Sheets(Million yen)
FY 2015(as of September 30, 2015)

FY 2016(as of September 30, 2016)

Cash and cash equivalents

43,33067,508

Accounts receivable, trade

628

577

AssetsCurrent assets

Real estate for sale*2

22,235*2

34,434

Real estate for sale in process*2

80,379*2

83,112

Operating loans

*2

5,657

*2

5,708

Deferred tax assets

1,121

1,428

Other

3,355

4,173

Allowance for doubtful accounts
Total current assets

(171)

(151)

156,535

196,792

Fixed asset
Tangible fixed assets
Buildings and structures
Accumulated depreciation*2*3

Buildings and structures, net
Land

*2

(840)

*3

1,629
*2

909

*3

(557)

Other
Accumulated depreciation

2,470

(971)
1,593

*2

873

*3

(498)

819

Other, net

2,565

682

261

184

2,799

2,651

1,490

1,389

Investment securities

120

1,607

Deferred tax assets

121

101

Total tangible fixed assets
Intangible fixed assets
Investments and other assets

Other
Total investments and other assets

*1

1,301

*1

2,262

1,544

3,972

5,834

8,013

Bond issuance cost

76

62

Total deferred assets

76

62

162,447

204,868

Total fixed assets
Deferred assets

Total assets

Open House Co., Ltd. (3288)

4|

(Million yen)

FY 2015(as of September 30, 2015)

FY 2016(as of September 30, 2016)

7,775

8,874

Liabilities
Current liabilities
Accounts payable
Short-term loans payable*2, *4Current portion of bonds

33,498*2, *4662

Current portion of long-term loans payable*2

34,937
582

7,959

*2

8,458

Income taxes payable

5,308

6,594

Advances received

6,392

7,324

Guarantee deposits received

2,080

1,984

Provision for bonuses

905

1,135

Provision for warranties for completed construction

512

610

Other

1,943

3,788

Total current liabilities

67,03774,288Long-term liabilities
Bonds payable
Long-term loans payable

3,137
*2

44,276

2,555*2, *563,792

Deferred tax liabilities

49

52

Net defined benefit liability

12

11

Asset retirement obligations

96

81

Other

228

3

47,79966,495

114,837

140,784

3,982

3,982

Total long-term liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stocks
Capital surplus

5,883

5,883

Retained earnings

38,711

55,723

Treasury stock(1,072)(1,852)

Total shareholders’ equity

47,50563,736

Other comprehensive income
Net unrealized holding gains/losses on securities

85Foreign currency translation adjustment

(60)

(33)

Accumulated other comprehensive income

(51)

(28)

156

375

Subscription rights to shares
Total net assets
Total liabilities and net assets

47,60964,084

162,447

204,868

Open House Co., Ltd. (3288)

5|2）Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Consolidated Statements of Income(Million yen)

Revenue
Cost of revenue

FY2015(From October 1, 2014
to September 30, 2015)
179,317*2

Gross profit
Selling, general and administrative expenses
Operating income

146,001

FY2016(From October 1, 2015
to September 30, 2016)
247,210*2

33,316*1

12,015200,828
46,382*1

15,062

21,30031,32078Non-operating income
Interest income
Dividends income

32Gain on sales of investment securities

76

20

House rent income

2254

Insurance income

3729

Foreign exchange gain

106

―

Other

55

77

Total non-operating income

310

191

Interest expenses

908

795

Commission fee

174

988

Foreign exchange losses

―

251

Other

233

322

Non-operating expenses

1,315

2,357

Ordinary income

Total non-operating expenses

20,29429,154

Income before income taxes and minority interests

20,29429,154

Income taxes-current

7,702

10,719

Income taxes-deferred

(44)

(275)

Total income taxes

7,657

10,444

Net income

12,637

18,709Profit attributable to owners of parent

12,637

18,709Open House Co., Ltd. (3288)

6|

Consolidated Statements of Comprehensive Income(Million yen)

FY2015(From October 1, 2014
to September 30, 2015)
Net income before minority interests
Other comprehensive income
Valuation difference on available-for-sale securities

Comprehensive income(Breakdown)Comprehensive income attributable toshareholders’ of the parent

12,637

18,709

(3)

(2)

(6)

Foreign currency translation adjustment
Total other comprehensive income

FY2016(From October 1, 2015
to September 30, 2016)*1, *2(10)

26*1, *2

23

12,626

18,733

12,626

18,733

Open House Co., Ltd. (3288)

7|3）Consolidated Statements of Changes in Shareholders' Equity
FY2015 (From October 1, 2014 to September 30, 2015)(Million yen)
Shareholders’ equity
Capital stock
Balance at October 1, 2014

3,982

Capital surplus

Retained earnings

5,883

27,222

Treasury stock

Total shareholders’equity37,088－Change of items during the period
Dividends from surplus(1,148)(1,148)

Profit attributable to owners ofparent12,637

12,637Purchase of treasury stock(1,072)(1,072)

Net changes of items other thanshareholders’ equity
Total changes of items during theperiod－－11,489(1,072)

10,416

Balance at September 30, 2015

3,982

5,883

38,711(1,072)47,505

Subscription rights
to shares

Total net assets－

37,047

Accumulated other comprehensive income

Balance at October 1, 2014

Valuationdifference on
available-for-sal
e securities

Foreign currencytranslation
adjustment

Total
accumulated
othercomprehensive
income

11

(53)

(41)

Change of items during the period
Dividends from surplus(1,148)

Profit attributable to owners ofparent12,637Purchase of treasury stock(1,072)

Net changes of items other thanshareholders’ equity

(3)

(6)

(10)

156

145

Total changes of items during theperiod

(3)

(6)

(10)

156

10,562

Balance at September 30, 2015

8

(60)

(51)

156

47,609Open House Co., Ltd. (3288)

8|

FY2016 (From October 1, 2015 to September 30, 2016)(Million yen)
Shareholders’ equity
Capital stock
Balance at October 1, 2015

3,982

Capital surplus

Retained earnings

5,883

38,711

Treasury stock

Total shareholders’equity(1,072)47,505

Change of items during the period
Dividends from surplus(1,697)(1,697)

Profit attributable toowners of parent

18,70918,709Purchase of treasury stock

(780)

(780)

Net changes of items other thanshareholders’ equity
Total changes of items during theperiod－－17,012(780)

16,231

Balance at September 30, 2016

3,982

5,883

55,723(1,852)

63,736

Accumulated other comprehensive income
Valuationdifference on
available-for-salesecurities
Balance at October 1, 20158

Foreign currencytranslation
adjustment

Total accumulated
othercomprehensive
incomeSubscription
rights to shares

(60)

(51)

156

Total net
assets47,609Change of items during the period
Dividends from surplus(1,697)

Profit attributable toowners of parent

18,709Purchase of treasury stock(780)

Net changes of items other thanshareholders’ equity

(2)

26

23

219

242

Total changes of items during theperiod

(2)

26

23

219

16,474

Balance at September 30, 2016

5

(33)

(28)

375

64,084

Open House Co., Ltd. (3288)

9|４）Consolidated Statements of Cash Flows（Millions of yen）

FY, 2015(From October 1, 2014
to September 30, 2015)

FY2016(From October 1, 2015
to September 30, 2016)

20,29429,154

332

391

Cash flows from operating activities
Income before income taxes and minority interests
Depreciation and amortization
Share-based compensation expenses

156

219

Loss (Profit) on sales of investment securities

(76)

(20)

Increase (Decrease) in provision for bonuses

293

229

Increase (Decrease) in allowance for doubtful accounts
Increase (Decrease) in provision for warranties for completed
construction
Increase (Decrease) in net defined benefit liability

(11)

(20)

103

98

1

(0)

Interest and dividends income

(11)

(10)

Foreign exchange loss (gain)

(69)

276

Interest expense

908

795

Commission fee―

948

Amortization of bond issuance cost

15

13

Decrease (Increase) in notes and accounts receivable-trade92

46

Decrease (Increase) in inventories(30,850)(15,027)

Increase (Decrease) in notes and accounts payable-trade

190

1,099

Decrease (Increase) in operating loans

(580)

(50)

Increase (Decrease) in advances received

1,063

932

575

(104)

Increase (Decrease) in guarantee deposits received
Other

(621)

1,483

Subtotal(8,193)

20,45114

10Interest and dividend income received
Interest expenses paid

(904)

(745)

Income taxes paid

(6,133)(9,899)Net cash provided by (used in) operating activities(15,216)

9,817

Payments into time deposits

(80)

(30)

Proceeds from withdrawal of time deposits

3,655

35

Purchase of tangible fixed assets

(531)

（257)

Purchase of intangible fixed assets

(99)

(165)

Purchase of investment securities―

Proceeds from sales and redemption of investment securities

187(1,747)184

Purchase of stocks of subsidiaries and affiliates

(100)

―

―

(300)

(1,571)

―

(316)

(462)

Proceeds from collection of lease and guarantee deposits

589

62

Other

35

9

1,769

(2,672)

Cash flows from investing activities

Payments for investments in capital of subsidiaries andassociates
Purchase of shares of subsidiaries resulting in change inscope of consolidation
Payments for lease and guarantee deposits

Net cash provided by (used in) investing activities*2

Open House Co., Ltd. (3288)

10 |（Millions of yen）

FY, 2015(From October 1, 2014
to September 30, 2015)

FY2016(From October 1, 2015
to September 30, 2016)

Proceeds from short-term loans payable

57,51962,382

Repayment of short-term loans payable(50,825)(60,942)

Proceeds from long-term loans payable

60,66875,724

Repayment of long-term loans payable(35,364)(55,704)

Commission for syndicate loan paid

―

(948)

Proceeds from issuance of bonds

3,150

―

Cash flows from financing activities

Redemption of bonds

(591)

(662)

Purchase of treasury stock(1,079)(782)

Cash dividends paid

(1,148)(1,697)

(38)

(37)

32,29017,332Other
Net cash provided by (used in) financing activities
Effect of exchange rate changes on cash and cash equivalents

55

(293)

Net increase (decrease) in cash and cash equivalents

18,89924,183

Cash and cash equivalents at beginning of period

24,42643,325

Cash and cash equivalents at end of period*143,325*1

67,508Open House Co., Ltd. (3288)

11 |(Notes to Consolidated Balance Sheets)*1

The following items are related to unconsolidated subsidiaries and affiliates.
(Million yen)

FY 2015(as of September 30, 2015)

FY 2016(as of September 30, 2016)

Other in Investments and other assets
Investment securities(Stocks)
Other in Investments and other assets―

55(Investments in capital)

168

475

(Stocks)

100

100

Others*2
Pledged assets and secured liabilities
Pledged assets are as follows.
(Million yen)

FY 2015(as of September 30, 2015)

FY 2016(as of September 30, 2016)

Real estate for sale

15,81328,066

Real estate for sale in process

67,81858,519Operating loans

3,701

3,753

Buildings and structures

536

126

Land

481

247

88,35190,713

Total
Secured liabilities are as follows.

(Million yen)

FY 2015(as of September 30, 2015)
Short-term loans payable

FY 2016(as of September 30, 2016)

30,87130,809Current portion of long-term loans payable

6,683

7,080

Long-term loans payable

38,92739,59376,48377,483Total*3

The accumulated amount of impairment loss is included in the amount of accumulated depreciation.
(Million yen)

FY 2015(as of September 30, 2015)
Accumulated impairment loss

FY 2016(as of September 30, 2016)

92

91

*4
2 consolidated subsidiaries (Open House Development Co., Ltd. and IB Net Co., Ltd.) have current account overdraft
and commitment line agreements, the balance of unexecuted loans as of the end of the fiscal year under review, based onthese agreements, is as follows.
(Million yen)

FY 2015(as of September 30, 2015)
Total loan commitment

FY 2016(as of September 30, 2016)

24,40043,200

Outstanding loans

9,579

24,817

Balance of unexecuted loans

14,82018,382*5

Financial restraint clauseOpen House Co., Ltd. (3288)

12 |The Company concluded contracts for a syndicate loan payable and a term loan payable with financial institutions. The
contract includes a financial restraint clause with criteria set by certain indicators that are computed based on the
consolidated balance sheet, income statements, etc.

(Notes to Consolidated Statements of Income)*1

Selling, general and administrative expenses account includes the following major items and amounts(Million yen)
FY2016(From October 1, 2015
to September 30, 2016)

FY2015(From October 1, 2014
to September 30, 2015)
Directors' compensations
Salaries
Provision for bonuses

361

482

1,978

2,400

263

280

Provision of allowance for doubtful accounts

5―

Retirement benefit expenses

41

45

Advertising expenses

1,131

1,361

Rents

1,410

1,723

Taxes and dues

1,139

1,346

Sales commission

1,565

2,394

*2
The balance of inventories as of the end of the period is the amount after the carrying value is been written down, andthe following appraisal losses are included in the cost of revenue.
(Million yen)
FY2015FY2016(From October 1, 2014
(From October 1, 2015
to September 30, 2015)
to September 30, 2016)
119

145

Open House Co., Ltd. (3288)

13 |(Notes to Consolidated Statements of Comprehensive Income)*1

The amount of recycling associated with other comprehensive income(Million yen)
FY2016(From October 1, 2015
to September 30, 2016)

FY2015(From October 1, 2014
to September 30, 2015)
Valuation difference on available-for-sale securities:
Amount recognized during the year

70

(4)

Amount of recycling

(76)

―

Total

(6)

(4)

Amount recognized during the year

(6)

26

Amount of recycling

―

―

Total

(6)

26

Total before income tax effect

(13)

22

Foreign currency translation adjustment:

Income tax effectTotal other comprehensive income

*2

2

1

(10)

23

The amount of income tax effects associated with other comprehensive income(Million yen)
FY2016(From October 1, 2015
to September 30, 2016)

FY2015(From October 1, 2014
to September 30, 2015)
Valuation difference on available-for-sale securities:
Before income tax effect

(6)

(4)

Amount of income tax effects2

1

After tax effect adjustment

(3)

(2)

(6)

26

Foreign currency translation adjustment:
Before income tax effectAmount of income tax effects――

After tax effect adjustment

(6)

26

(13)

22

Total other comprehensive income
Before income tax effectAmount of income tax effects2

1

After tax effect adjustment

(10)

23

Open House Co., Ltd. (3288)

14 |(Notes to Consolidated Statements of Cash Flows)*1
Reconciliation of balance sheet items to cash and cash equivalents in the consolidated statements of cash flows is asfollows.
(Million yen)
FY2015FY2016(From October 1, 2014
(From October 1, 2015
to September 30, 2015)
to September 30, 2016)
Cash and deposits
43,33067,508Deposits with a term of over 3 months
Cash and cash equivalents(5)―43,32567,508*2
The relationships between the breakdown of assets and liabilities at time of initial consolidation of Asakawa Home
Co.,Ltd. acquired by share purchase, the total share purchase price, and the payment for such acquisition (net) is as follows
FY2015 (From October 1, 2014 to September 30, 2015)

Current assets
Noncurrent assets
Goodwill(Million yen)
17,1982,488
1,372

Current liabilities(10,493)

Noncurrent liabilities(2,633)Acquisition costs of Asakawa Home

7,933

Asakawa Home’s cash and cash equivalents(6,361)

Difference:

1,571

Payment for purchase of Asakawa Home

Open House Co., Ltd. (3288)

15 |(Segment Information)
1.

The reportable segments of the Group comprise those business units for which separate financial information isavailable, and which are subject to a regular review conducted by the Company’s Board of Directors in order todetermine the allocation of management resources and evaluate their performance.
The Group now has the following six reporting segments: Brokerage, Single-Family Homes, Asakawa Home,
Condominiums, Property Resales, and Others.

2.

Method for calculating revenue, income/loss, assets, liabilities, and other items for reportable segments
The accounting policies of reportable segments are generally the same as those described in “Basis of Presenting
the Consolidated Financial Statements.”
Segment income is based on operating income.
Intersegment revenue and transfers are based on market price.

3.

Information on revenue, income or loss, and other items by reportable segment
FY2015 (From October 1, 2014 to September 30, 2015)（Million yen）
Reportable Segment

Amount Recorded on
Adjustments
Consolidated(Note 1)
Quarterly Statementsof Income (Note 2)

Brokerage

Singlefamily
Homes

Asakawa
Home

Condo

Property
Resales

Others

3,714

91,644

21,34620,091

41,719774

179,317

3,514

－

1,775

4

－

50

5,344

（5,344）

－

Total

7,255

91,644

23,122

20,09541,719825

184,662（5,344）

179,317

Segment Income (Loss)

2,492

8,289

564

3,176

6,799

143

21,465（165）

21,300

62

53

142

10

6

6

283

49

332

Total

Revenue
Revenue from
Outside Customers
Intersegment
revenue and transfers－

179,317

Other items
Amortization of
goodwill(NOTE)
１.

Adjustment of -¥165million for segment income includes intersegment elimination of ¥38 million and corporate expenses of-¥204 million that is not distributed to the reportable segments. Corporate expenses are primarily general and administrative
expenses that do not belong to the reportable segments.

2. Segment income has been adjusted to operating income described in consolidated quarterly statements of income.
3. Segment assets are not listed as assets are not allocated to reportable segments.
4. Adjustment for depreciation and amortization refers to depreciation expenses related to corporate assets.

Open House Co., Ltd. (3288)

16 |FY2016 (From October 1, 2015 to September 30, 2016)（Million yen）
Reportable Segment

Amount Recorded on
Adjustments
Consolidated(Note 1)
Quarterly Statementsof Income (Note 2)

Brokerage

Singlefamily
Homes

Asakawa
Home

Condo

Property
Resales

Others4,221

119,563

31,23618,991

72,795403

247,210

4,307

－

6,388

68

6

51

10,822（10,822）

－

Total

8,528

119,563

37,625

19,05972,801455

258,033（10,822）

247,210Segment Income (Loss)

2,882

12,833

2,050

3,085

10,583138

31,573（253）

31,320

82

71

171

10

8

6

350

40

391

Total

Revenue
Revenue from
Outside Customers
Intersegment
revenue and transfers－

247,210

Other items
Amortization of
goodwill(NOTE)
１. Adjustment of -¥253million for segment income includes intersegment elimination of ¥39 million and corporate expenses of-¥293 million that is not distributed to the reportable segments. Corporate expenses are primarily general and administrative
expenses that do not belong to the reportable segments.
2. Segment income has been adjusted to operating income described in consolidated quarterly statements of income.
3. Segment assets are not listed as assets are not allocated to reportable segments.
4. Adjustment for depreciation and amortization refers to depreciation expenses related to corporate assets.

4.

Changes in reportable segments
Effective from the first quarter for the current fiscal year, the Company has changed reportable segments.
The former Real Estate Sales Business is divided into four reportable segments: Single-family Homes; Asakawa Home;
Condominiums; Property Resales. “Others” refers to business segments not included in reportable segments.
As a result, the Group now has the following six reporting segments: Brokerage, Single-Family Homes, Asakawa Home,
Condominiums, Property Resales, and Others.
The segment information for the previous consolidated fiscal year is disclosed based on the reportable segment for thecurrent consolidated fiscal year.

Open House Co., Ltd. (3288)

17 |Non-Consolidated Financial Statements
Non-Consolidated Balance Sheets(Million yen)
FY 2015(as of September 30, 2015)
AssetsCurrent assets
Cash and cash equivalents
Operating accounts receivable
Prepaid expense
Deferred tax assets
Short-term loans receivable from subsidiaries
and associates
Income taxes receivable
Other
Total current assets
Fixed asset
Tangible fixed assets
Buildings
VehiclesTools, furniture and fixtures
Land
Other
Total tangible fixed assets
Intangible fixed assets
SoftwareOther

FY 2016(as of September 30, 2016)

9,890
766
127
222

32,386
910
170
226

2,000

―

―
379

495
418

13,386

34,607

311
37
71
38
0
457

355
24
57
38
―

145
4

140
3

475

Total intangible fixed assets
Investments and other assets
Investment securities
Stocks of subsidiaries and associates
Investments in capital
Long-term prepaid expenses
Deferred tax assets
Lease and guarantee deposits received
Other
Allowance for doubtful accounts

150

143

120
8,196
0
5
34
712
66
(12)

165
8,196
―
4
97
889
51
(10)

Total investments and other assets
Total fixed assets

9,123
9,731

9,394
10,01454

48

54
23,17348
44,670

Deferred assets
Bond issuance cost
Total deferred assets
Total assets

Open House Co., Ltd. (3288)

18 |(Million yen)
FY 2015(as of September 30, 2015)

FY 2016(as of September 30, 2016)

Liabilities
Current liabilities
Current portion of bonds

262

252

Current portion of long-term loans payable

580

562

Accounts payable

382

499

Accrued expenses

99

147

Income taxes payable

642―

Advances received

118

165

Deposits received

62

51

Provision for bonuses

361

441

Other
Total current liabilities

175

98

2,684

2,217

Long-term liabilities
Bonds payable

2,067

1,815

Long-term loans payable

4,550

23,987

0

―

6,617

25,802

9,301

28,020

3,982

3,982

Legal capital surplus

3,765

3,765

Other capital surplus

2,118

2,118

Total capital surplus

5,883

5,883

35

35

4,877

8,220

4,912

8,256

Treasury stock(1,072)(1,852)

Total shareholders’ equity

13,706

16,269

8

5

8

5

156

375

13,871

16,65023,17344,670

Other
Total long-term liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stocks
Capital surplus

Retained earnings
Legal retained earnings
Other retained earnings
Retained earnings brought forward
Total retained earnings

Valuation and translation adjustments
Valuation difference on available-for-salesecurities
Total valuation and translation adjustments
Subscription rights to shares
Total net assets
Total liabilities and net assets

Open House Co., Ltd. (3288)

19 |Non-Consolidated Statements of Income(Million yen)
FY2015(From October 1, 2014
to September 30, 2015)

FY2016(From October 1, 2015
to September 30, 2016)

Operating revenue

7,255

8,528

Operating cost

2,719

3,139

Gross operating profit

4,536

5,388

Selling, general and administrative expenses

2,246

2,796

Operating income

2,289

2,592

Non-operating income
Interest income

8575

Dividends income

9

3,787

Guarantee commission received

297

376

Gain on investments in partnership

2―

Gain on sales of investment securities

76

20

Other

76

129

Total non-operating income

547

4,390

Non-operating expenses
Interest expenses

49

96Interest on bonds

9

11

Amortization of bond issuance cost

5

6

Guarantee commission

33

93

Commission fee

91

955

Other

2

98

191

1,261

Ordinary income

2,646

5,720

Income before Income taxes and minority interests

2,646

5,720

Income taxes-current

1,004

744

Income taxes-deferred

(36)

(64)

Total income Taxes

968

679

1,678

5,040

Total non-operating expenses

Net income

Open House Co., Ltd. (3288)

20 |Non-Consolidated Statements of Changes in Shareholders' Equity
FY2015 (From October 1, 2014 to September 30, 2015)(Million yen)
Shareholders’ equity
Capital surplus
Capitalstock

Balance at October 1,
2014
Change of items during
the period
Dividends fromsurplus

3,982

Legal
capitalsurplus

Othercapitalsurplus

3,765

2,118

Retained earnings
Total
capitalsurplus

5,883

Legal
retainedearnings

35

Net income

Other retained
earnings

Total
retainedearnings

Retainedearnings brought
forwardTotal
shareholders’equity―14,248

4,346

4,382

(1,148)(1,148)(1,148)

1,678

1,678

1,678

Purchase oftreasury stock
Net changes of items
other thanshareholders’ equity
Total changes of items
during the period
Balance at September
30, 2015

Treasurystock(1,072)(1,072)

―

―

―

―

―

530

530

(1,072)

(541)

3,982

3,765

2,118

5,883

35

4,877

4,912

(1,072)

13,706

Valuation and translation adjustments

Balance at October 1,
2014
Change of items during
the period
Dividends fromsurplus

Valuation difference on
available-for-sale securities

Total valuation andtranslation adjustments

11

11

Total net assets

Total net assets―

14,260(1,148)Net income

1,678

Purchase of treasurystock(1,072)

Net changes of items
other thanshareholders’ equity
Total changes of items
during the period
Balance at September
30, 2015

(3)

(3)

156

152

(3)

(3)

156

(388)

8

8

156

13,871

Open House Co., Ltd. (3288)

21 |FY2016 (From October 1, 2015 to September 30, 2016)(Million yen)
Shareholders’ equity
Capital surplus
Capitalstock Legal capitalsurplus
Balance at October 1,
2015

3,982

Retained earnings

Other
capitalsurplusTotal
capitalsurplusLegalretainedearnings

2,118

5,883

35

3,765

Other retained
earnings
Retained earnings
brought forward

Total
retainedearnings

Treasury
stock

Total
shareholders’equity(1,072)

13,706

4,877

4,912

Dividends from surplus(1,697)(1,697)(1,697)

Net income

5,040

5,040

5,040

Change of items during
the period

Purchase of treasury
stock

(780)

(780)

Net changes of items
other thanshareholders’ equity
Total changes of items
during the period

－

－

－

－

－

3,343

3,343

(780)

2,562

Balance at September 30,
2016

3,982

3,765

2,118

5,883

35

8,220

8,256

(1,852)

16,269Valuation and translation adjustments
Valuation difference on
available-for-sale securities
Balance at October 1,
2015

Total valuation andtranslation adjustments
8

8

Subscription rights toshares156

Total net assets

13,871

Change of items during
the period
Dividends fromsurplus(1,697)

Net income

5,040

Purchase of treasury
stock

(780)

Net changes of items
other thanshareholders’ equity

(2)

(2)

219

216

Total changes of items
during the period

(2)

(2)

219

2,778

Balance at September
30, 2016

5

5

375

16,650Open House Co., Ltd. (3288)

22 |