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.

(Correction) Partial Correction on July 31, 2020

Summary of Consolidated Financial Results
for the Fiscal Year Ended September 30, 2019〔Based on Japanese GAAP〕
November 14, 2019
Open House Co., Ltd.
Tokyo Stock Exchange, First section
3288
https://openhouse-group.co.jp/ir
Masaaki Arai, President and CEO
December 18, 2019
December 19, 2019
December 19, 2019
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, 2019
(October 1, 2018 to September 30, 2019)(1) Consolidated operating results(% figures indicate year-on-year change)

Revenue
Million yen

Operating income%

Million yen%

Million yen

FY 2019
540,376
38.3
57,781
22.1
FY 2018
390,735
28.3
47,30425.8(Note) Comprehensive income: From October 1, 2018 to September 30, 2019
From October 1, 2017 to September 30, 2018
EPS
FY 2019
FY 2018

Diluted EPS
Yen

351.22285.08

Profit attributable toowners of parent

Ordinary income

ROE

Yen

%

%

23.9
28.3

Operating income
MarginROA%

349.11282.88Million yen

54,92819.3
39,40746,05227.5
31,806¥ 38,540 million (20.1%)¥ 32,096 million (28.9%)

%

32.3
33.6

%

13.1
14.2

10.7
12.1

(Note) The company conducted a 2-for-1 stock split of common stock with an effective date of October 1, 2019. 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, 2019
September 30, 2018
(Reference) Shareholders’ equity:

Million yen

Net assets

445,904
393,367
As of September 30, 2019:
As of September 30, 2018:

Million yen

Equity ratio

138,067
113,486¥ 137,754million¥ 106,156million

Net assets per share
%

30.9
27.0

Yen

1,246.15
960.22(Note) The company conducted a 2-for-1 stock split of common stock with an effective date of October 1, 2019. 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 2019
FY 2018

Million yen

14,344(10,017)

Cash flows frominvesting activities
Million yen(4,800)(12,582)

Cash flows fromfinancing activities
Million yen

7,186
50,696

Cash and cash
equivalents at FY end
Million yen

135,345
118,978

Open House Co., Ltd. (3288)

1|

2.

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

Total

Yen
―
―
―

Yen
46.00
60.00
40.00

Yen
―
―
―

Yen
52.00
66.00
40.00

Yen
98.00
126.0080.00

FY 2018
FY 2019
FY 2020 (Forecast)

Dividend on
Total dividends Payout ratio
equity(Consolidated)(Annual)(Consolidated)
Million yen
5,442
7,022

%
17.2
17.9

%
5.8
5.7

20.1

(Note) For FY2018 and FY2019, the actual dividend amounts are shown. However the divided forecast per shares for FY2020 is the amountafter the stock split as the Company conducted a 2-for-1 stock split of common stock with an effective date of October 1, 2019. So, as
annual dividend per share for FY2019 calculated without considering the stock split is ¥63, the dividend forecast for FY 2020 is an increaseof 17 yen per share from the previous fiscal year.

3.

Forecast of Consolidated Operating Results for FY2020(October 1, 2019 to September 30, 2020)
Revenue
2Q (Cumulative)
Full year(% figures indicate year-on-year change)

Operating income

Ordinary income

Profit attributable toowners of parent

EPS

Million yen%

Million yen%

Million yen%

Million yen%

Yen

260,000
600,000

7.1
11.0

25,70065,5008.0
13.4

24,50063,00010.4
14.7

17,15044,100

6.3
11.9

155.14398.94(Note) The Company conducted a 2-for-1 stock split of common stock with an effective date of October 1, 2019. The forecast information
about EPS for FY2020 is provided after taking the stock split into consideration.

*Notes:(1) Significant changes in consolidated subsidiaries during the period(Changes in specific subsidiaries resulting in a change in the scope of consolidation):

None(2) Changes in accounting policies, changes of accounting estimates, and revisions and restatementsⅰ) Changes in accounting policies in accordance with changes in accounting principles: Noneⅱ) Changes in accounting policies other than the above:Yesⅲ) 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, 2019:

115,237,000 shares

September 30, 2018:

115,025,000 shares

September 30, 2018:

4,470,160 shares

September 30, 2018:

111,570,469 sharesⅱ) Treasury stock at period-end
September 30, 2019:

4,694,502 sharesⅲ) Average number of shares issued
September 30, 2019:112,202,231 shares(Note) The Company conducted a 2-for-1 stock split of common stock with an effective date of October 1, 2019. “Number ofshares issued at period-end”, “Treasury stock at period-end”, and “Average number of shares issued” calculated assuming thestock split were 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, 2019
(October 1, 2018 to September 30, 2019)(1) Non-Consolidated Operating Results
Operating revenue
FY 2019
FY 2018

Million yen(% figures indicate year-on-year change)

Operating income%

12,385
9,762

26.9
(5.0)

EPS
FY 2019
FY 2018

Million yen

Ordinary income
%

858
346

147.0
(87.1)

Million yen

Net income%

15,545
15,361

1.2
89.7

Million yen%

15,864
15,2094.3
106.2

Diluted EPS
Yen

Yen

141.39136.32140.55135.27(Note) The company conducted a 2-for-1 stock split of common stock with an effective date of October 1, 2019. EPS and Diluted EPS
calculated assuming the stock split was conducted at the beginning of the previous fiscal year.

(2) Non-Consolidated Financial Position
Total assets
September 30, 2019
September 30, 2018
(Reference) Shareholders’ equity:

Million yen

Net assets

97,18088,818
As of September 30, 2019:
As of September 30, 2018:

Million yen

34,481
26,229¥ 34,168million¥ 25,841million

Equity ratio

Net assets per share
%

35.2
29.1

Yen

309.08233.75(Note) The company conducted a 2-for-1 stock split of common stock with an effective date of October 1, 2019. Net assets per sharecalculated assuming the stock split was conducted at the beginning of the previous fiscal year.

*This summary of financial statements is exempt from audit procedures required by Financial Instruments and Exchange Act.
* 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 2018(as of September 30, 2018)

FY 2019(as of September 30, 2019)

119,053

135,354

1,291

498

AssetsCurrent assets
Cash and cash equivalents*2

Accounts receivable, trade
Real estate for sale*2

47,238*2

70,457

Real estate for sale in process*2

186,033*2

179,596

Operating loans*214,244*2

28,924Other

10,127

10,167

Allowance for doubtful accounts

(172)

(232)

377,818

424,766

Total current assets
Fixed asset
Tangible fixed assets
Buildings and structures
Accumulated depreciation

*2

4,154

*2

4,077

*3

(1,390)*3(1,359)Buildings and structures, net
Land

2,764
*2

Other
Accumulated depreciation

2,403

2,718
1,845

*2

951
*3

Other, net
Total tangible fixed assets
Intangible fixed assets

(644)

1,183
(755)

*3

306

427

5,474

4,990

3,515

3,456

Investments and other assets
Investment securities

*1

1,435

*1

7,084

Deferred tax assets

1,824

2,475

Other

3,276

3,121

Allowance for doubtful accounts

(18)

(22)

Total investments and other assets

6,517

12,65915,508

21,106

Bond issuance cost40

31

Total deferred assets

40

31

393,367

445,904

Total fixed assets
Deferred assets

Total assets

Open House Co., Ltd. (3288)

4|

(Million yen)

FY 2018(as of September 30, 2018)

FY 2019(as of September 30, 2019)

Notes payable-trade

4,557

4,257

Accounts payable

14,803Liabilities
Current liabilities

Short-term loans payable*2, *4Current portion of bonds
Current portion of long-term loans payable

111,583

16,913*2, *489,933*2

12,976532*218,756372

Income taxes payable

9,713

11,461

Advances received

10,556

14,053

Guarantee deposits received

1,280

1,250

Provision for bonuses

1,962

2,404

Provision for warranties for completed construction
Other
Total current liabilities

765

932

7,893

7,793

182,405

162,348

1,461

1,089

Long-term liabilities
Bonds payable
Long-term loans payable*2, *4, *5

95,619*2, *4, *5

143,972

Net defined benefit liability

300

326

Asset retirement obligations

92

100

Other

0

―

97,475

145,488279,880

307,837

4,094

4,234

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

4,481

8,206

Retained earnings

103,324

134,629

Treasury stock(6,102)(8,806)

Total shareholders’ equity

105,798

138,263

Other comprehensive income
Net unrealized holding gains/losses on securities

15

8

Foreign currency translation adjustment

342

(517)

Accumulated other comprehensive income

358

(508)

Subscription rights to shares
Non-controlling interests
Total net assets
Total liabilities and net assets

388

312

6,941

―

113,486

138,067

393,367

445,904

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

FY2018(From October 1, 2017
to September 30, 2018)
390,735*2

Gross profit
Selling, general and administrative expenses
Operating income

FY2019(From October 1, 2018
to September 30, 2019)
540,376

320,483*2

70,251*1450,715
89,661

22,946*1

31,87947,30457,78135

68

Non-operating income
Interest income
Dividends income

1420House rent income

123

146

Other

90

176

Total non-operating income

264

421

Interest expenses

1,147

1,817

Commission fee

77

871

Non-operating expenses

Other

291

576

1,516

3,265

46,052

54,928Gain on sales of non-current assets―

772

Total extraordinary income

―

772
―

Total extraordinary losses

595
595

Income before income taxes

45,45655,701

Income taxes-current

14,501

16,942

Total non-operating expenses
Ordinary income
Extraordinary income

Extraordinary losses
Consumption tax difference―

Income taxes-deferred

(851)

(648)

Total income taxes

13,64916,293

Net income

31,80639,407

Profit attributable to owners of parent

31,80639,407

Open House Co., Ltd. (3288)

6|

Consolidated Statements of Comprehensive Income(Million yen)

FY2018(From October 1, 2017
to September 30, 2018)

FY2019(From October 1, 2018
to September 30, 2019)

31,80639,4077(7)Foreign currency translation adjustment

282

(860)

Total other comprehensive income

289

(867)

Net income
Other comprehensive income
Valuation difference on available-for-sale securities

Comprehensive income(Profit attributable to)Comprehensive income attributable toshareholders’ of the parent*1, *232,096*1, *232,09638,54038,540Open House Co., Ltd. (3288)

7|3）Consolidated Statements of Changes in Shareholders' Equity
FY2018 (From October 1, 2017 to September 30, 2018)(Million yen)
Shareholders’ equity
Capital stock
Balance at October 1, 2017

Capital surplus

Retained earnings

Treasury stock

76,038

Total shareholders’equity

4,032

5,934

(3,102)82,902Issuance of new shares (Exerciseof subscription rights to shares)

32

32

65

Issuance of new shares (Issuance ofrestricted stock)

29

29

58

Change of items during the period

Dividends from surplus(4,520)(4,520)

Profit attributable to owners ofparent31,80631,806

Purchase of treasury stock(3,000)Change in treasury shares ofparent arising from transactions
with non-controlling shareholders(3,000)(1,514)(1,514)

Net changes of items other thanshareholders’ equity
Total changes of items during theperiod62(1,452)

27,286(3,000)22,895

Balance at September 30, 2018

4,094

4,481

103,324(6,102)

105,798

Accumulated other comprehensive income

Balance at October 1, 2017

Valuationdifference on
available-for-salesecurities

Foreigncurrencytranslation
adjustment

860

Total accumulated Subscription Non-controllingrights tootherinterests
sharescomprehensive
income68408

Total net
assets―83,379Change of items during the period
Issuance of new shares (Exerciseof subscription rights to shares)

65

Issuance of new shares (Issuance ofrestricted stock)

58

Dividends from surplus(4,520)

Profit attributable to owners ofparent31,806

Purchase of treasury stock(3,000)Change in treasury shares ofparent arising from transactions
with non-controlling shareholders(1,514)

Net changes of items other thanshareholders’ equity

7

282

289

(20)

6,941

7,211

Total changes of items during theperiod

7

282

289

(20)

6,941

30,107

Balance at September 30, 2018

15

342

358

388

6,941

113,486

Open House Co., Ltd. (3288)

8|

FY2019 (From October 1, 2018 to September 30, 2019)(Million yen)
Shareholders’ equity
Capital stock
Balance at October 1, 2018

4,094

Capital surplus

Retained earnings

4,481

103,324

Cumulative effects of changes inaccounting policies
Restated balance

Total shareholders’equityTreasury stock(6,102)

105,798(1,853)(1,853)

4,094

4,481

101,471(6,102)103,944Issuance of new shares (Exercise ofsubscription rights to shares)

104

104

208

Issuance of new shares (Issuance ofrestricted stock)

35

35

71

Change of items during the period

Dividends from surplus(6,249)(6,249)Profit attributable to owners of parent

39,40739,407Purchase of treasury stock
Change in treasury shares of parent
arising from transactions with
non-controlling shareholders

3,585(6,411)(6,411)

3,707

7,292

Net changes of items other thanshareholders’ equity
Total changes of items during theperiod139

3,724

33,158(2,704)34,318

Balance at September 30, 2019

4,234

8,206

134,629(8,806)138,263

Accumulated other comprehensive income
Total
Valuation
Foreign currency accumulateddifference ontranslation
otheravailable-foradjustment
comprehensive
sale securities
incomeBalance at October 1, 2018

15

342

358

Subscription
Non-controllingrights tointerests
shares388

6,941

Cumulative effects of changes inaccounting policies
Restated balance

Total net
assets

113,486(1,853)

15

342

358

388

6,941

111,633

Change of items during the period
Issuance of new shares (Exercise ofsubscription rights to shares)

208

Issuance of new shares (Issuance ofrestricted stock)71

Dividends from surplus(6,249)Profit attributable to owners of parent

39,407Purchase of treasury stock(6,411)

Change in treasury shares of parent
arising from transactions with
non-controlling shareholders

7,292

Net changes of items other thanshareholders’ equity

(7)

(860)

(867)

(75)

(6,941)(7,884)

Total changes of items during theperiod

(7)

(860)

(867)

(75)

(6,941)

26,434

Balance at September 30, 2019

8

(517)

(508)

312

―

138,067

Open House Co., Ltd. (3288)

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

FY2018(From October 1, 2017
to September 30, 2018)

FY2019(From October 1, 2018
to September 30, 2019)

Income before income taxes

45,45655,701

Depreciation and amortization

418

517

Share-based compensation expenses

13

39

Increase (Decrease) in provision for bonuses

297

442

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

(6)

64

55

166

1

25

Interest and dividends income

(50)

(89)

Foreign exchange loss (gain)

90

(17)

Cash flows from operating activities

Interest expense

1,147

1,817

Commission for syndicate loan―

653

Amortization of bond issuance cost

109

Decrease (Increase) in notes and accounts receivable-trade
Decrease (Increase) in inventories

(392)

(320)

(40,288)(17,456)

Increase (Decrease) in notes and accounts payable-trade

1,928

1,809

Decrease (Increase) in operating loans(8,188)(14,679)

Increase (Decrease) in advances received

2,545

2,719

23

(22)

Increase (Decrease) in guarantee deposits received
Increase (Decrease) in deposits received

1,222

47

Other

(574)

(919)

Subtotal

3,711

30,508Interest and dividend income received

50

83

Interest expenses paid

(1,154)(1,782)

Income taxes paid

(12,625)(14,465)

Net cash provided by (used in) operating activities(10,017)

14,344

Payments into time deposits(11,874)(9,039)Proceeds from withdrawal of time deposits

11,874

9,118

Purchase of tangible fixed assets(1,028)

(983)

29

1,823

Cash flows from investing activities

Proceeds from sales of tangible fixed assets
Purchase of intangible fixed assets

(40)

(185)

Purchase of investment securities(790)(5,539)Proceeds from sales and redemption of investment securities

1,001

510

Payments for investments in capital(100)

Collection of investments in capital

386

(0)
3

Payments of loans receivable from subsidiaries and associates
Payments for investments in capital of subsidiaries andassociates
Purchase of shares of subsidiaries resulting in change in scopeof consolidation
Payments for lease and guarantee deposits

(110)

―

(330)

―

(11,178)

―

(505)

(434)

49
32

46
(120)

(12,582)(4,800)

Proceeds from collection of lease and guarantee deposits
Other
Net cash provided by (used in) investing activities

Open House Co., Ltd. (3288)

10 |（Millions of yen）

FY2018(From October 1, 2017
to September 30, 2018)

FY2019(From October 1, 2018
to September 30, 2019)

Increase in short-term loans payable

152,161

169,917

Decrease in short-term loans payable(109,902)(191,567)

Proceeds from long-term loans payable

92,816

123,463

Repayment of long-term loans payable(76,327)(80,887)

―

(653)

(562)

(532)

Cash flows from financing activities

Commission for syndicate loan paid
Redemption of bonds
Proceeds from exercise of share options

45

130

Purchase of treasury stock(3,015)(6,425)

Cash dividend paid

(4,520)(6,249)－(9)50,696

7,186

(27)

(364)

Other
Net cash provided by (used in) financing activities
Effect of exchange rate changes on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents

28,06816,366

Cash and cash equivalents at beginning of period

90,910118,978

Cash and cash equivalents at end of period*1,

118,978*1,

135,345

Open House Co., Ltd. (3288)

11 |(Notes to Consolidated Balance Sheets)*1
The following items are related to unconsolidated subsidiaries and affiliates.
(Million yen)

FY 2018(as of September 30, 2018)
Other in Investments and other assets

FY 2019(as of September 30, 2019)

110

247

498

4,563

Investment securities(Stocks)
Other in Investments and other assets(Investments in capital)*2

Pledged assets and secured liabilities

Pledged assets are as follows.
(Million yen)

FY 2018(as of September 30, 2018)
Cash and deposits

FY 2019(as of September 30, 2019)

Real estate for sale75
30,868―46,157

Real estate for sale in process

123,550

101,836

3,519

6,963

Operating loans
Buildings and structures

372

86

Land

866

471

159,253

155,516

Total
Secured liabilities are as follows.

(Million yen)

FY 2018(as of September 30, 2018)

FY 2019(as of September 30, 2019)

Short-term loans payable

76,822

71,469Current portion of long-term loans payable

16,612

8,777

Long-term loans payable
Total
*3

45,061

45,631

138,497

125,878

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

FY 2018(as of September 30, 2018)
Accumulated impairment loss

FY 2019(as of September 30, 2019)

201

105

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

FY 2018(as of September 30, 2018)

FY 2019(as of September 30, 2019)

Total loan commitment

121,756

144,000

Outstanding loans

93,734

84,210

Balance of unexecuted loans

28,021

59,789*5

Financial restraint clause
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.
Open House Co., Ltd. (3288)

12 |(Notes to Consolidated Statements of Income)*1
Selling, general and administrative expenses account includes the following major items and amounts(Million yen)
FY2019(From October 1, 2018
to September 30, 2019)

FY2018(From October 1, 2017
to September 30, 2018)
Directors' compensations

557

772

3,484

5,338

Provision for bonuses

512

720

Provision of allowance for doubtful accounts―

88

Salaries

Retirement benefit expenses

78

105

Advertising expenses

1,868

2,290

Rents

2,553

3,246

Taxes and dues

2,782

4,103

Sales commission

3,170

4,886

*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.
FY2018FY2019(From October 1, 2017
(From October 1, 2018
to September 30, 2018)
to September 30, 2019)
816
906

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)
FY2019(From October 1, 2018
to September 30, 2019)

FY2018(From October 1, 2017
to September 30, 2018)
Valuation difference on available-for-sale securities:
Amount recognized during the year

10

(10)

Amount of recycling

―

―

Total

10

(10)

282

(860)

Foreign currency translation adjustment:
Amount recognized during the year
Amount of recycling

―

―

Total

282

(860)

Total before income tax effect

292

(870)

Income tax effect

(3)

3

289

(867)

Total other comprehensive income*2

The amount of income tax effects associated with other comprehensive income(Million yen)
FY2019(From October 1, 2018
to September 30, 2019)

FY2018(From October 1, 2017
to September 30, 2018)
Valuation difference on available-for-sale securities:
Before income tax effect10

Amount of income tax effects(3)

3After tax effect adjustment

7(7)

Before income tax effect

282

(860)

Amount of income tax effects――

After tax effect adjustment

282

(860)

Before income tax effect

292

(870)

Amount of income tax effects(3)

3After tax effect adjustment

289

(867)

(10)

Foreign currency translation adjustment:

Total other comprehensive income

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)
FY2018FY2019(From October 1, 2017
(From October 1, 2018
to September 30, 2018)
to September 30, 2019)
Cash and deposits
119,053
135,354
Deposits with a term of over 3 months(75)―
Restricted deposit
Cash and cash equivalents―

9118,978

135,345

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 designated four segments: single-family related business, condominiums business, property resale
business and others as reportable segments.
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
FY2018 (From October 1, 2017 to September 30, 2018)（Million yen）
Amount Recorded on
Adjustments
Consolidated(Note 1)
Quarterly Statementsof Income (Note 2)

Reportable Segment
Single- family
homes related

Condominium Property resale

OthersTotal

Revenue
Revenue from
Outside Customers
Intersegment
revenue and transfers

218,540

49,385

107,399

15,409390,735―

390,735

―

―

31

―

31

(31)

―

218,540

49,385

107,430

15,409390,766(31)

390,735

26,276

7,230

12,272

2,408

48,188(883)

47,304

Depreciation

332

20

8

6

367

51

418

Amortization of
goodwill

137

―

―

―

137

―

137

Total
Segment Income
Other items(NOTE)
１. Adjustment of ¥(883)million for segment income includes intersegment elimination of ¥58million and corporate expenses of¥(941) 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 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 |FY2019 (From October 1, 2018 to September 30, 2019)（Million yen）
Amount Recorded on
Adjustments
Consolidated(Note 1)
Quarterly Statementsof Income (Note 2)

Reportable Segment
Single- family
homes related

Condominium Property resale

OthersTotal

Revenue
Revenue from
Outside Customers
Intersegment
revenue and transfers

340,528

60,956108,353

30,538

540,376―

540,376

―

―

57

―

57

(57)

―

340,528

60,956

108,41030,538

540,433(57)

540,376

32,62010,815

11,487

3,777

58,701(920)

57,781

Depreciation

444

27

8

7

487

29

517

Amortization of
goodwill

402

―

―

―

402

―

402

Total
Segment Income
Other items(NOTE)
１. Adjustment of ¥ (920) million for segment income includes intersegment elimination of ¥237 million and corporate expenses of¥ (1,157) 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 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)

17 |Non-Consolidated Financial Statements
Non-Consolidated Balance Sheets(Million yen)
FY 2018(as of September 30, 2018)

FY 2019(as of September 30, 2019)

AssetsCurrent assets
Cash and cash equivalents

44,232

31,052

Operating accounts receivable

1,289

1,308

Prepaid expense
Short-term loans receivable from subsidiaries
and associates
Income taxes receivable

256

260

7,300

19,400

2,901

2,996

Other

1,300

1,755

Total current assets

57,28056,774

Buildings

875

1,232

Vehicles30

21

Tools, furniture and fixtures

130

228

0

―

1,037

1,482

Software

125

116

Other

3

2

128

119

Fixed asset
Tangible fixed assets

Other
Total tangible fixed assets
Intangible fixed assets

Total intangible fixed assets
Investments and other assets
Investment securities
Shares of subsidiaries and associates
Long-term prepaid expenses
Lease and guarantee deposits received
Other

95

368

28,39436,067

30

43

1,462

1,602

43

26

Allowance for doubtful accounts

(9)

(4)

Deferred tax assets

318

668

30,33538,77331,50140,37536

30

Total investments and other assets
Total fixed assets
Deferred assets
Bond issuance cost
Total deferred assets
Total assets

36

30

88,81897,180Open House Co., Ltd. (3288)

18 |(Million yen)
FY 2018(as of September 30, 2018)

FY 2019(as of September 30, 2019)

Liabilities
Current liabilities
Short-term loans payable

19,772―Current portion of bonds

242

242

Current portion of long-term loans payable

625

2,695

Accounts payable

1,521

1,093

Accrued expenses

217

261

Advances received―

610

Deposits received

79

89

Provision for bonuses

717

894

Other

82

196

23,257

6,082

Bonds payable

1,331

1,089

Long-term loans payable

38,00055,527

Total long-term liabilities

39,331

56,616

62,58862,699

4,094

4,234

Legal capital surplus

3,877

4,017

Other capital surplus

2,118

5,947

Total capital surplus

5,996

9,965

35

35

21,801

28,731

21,83728,767

Treasury stock(6,102)(8,806)

Total shareholders’ equity

25,82534,160

Valuation difference on available-for-sale securities

15

8

Total valuation and translation adjustments

15

8

Total current liabilities
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

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

388

312

26,22934,481

88,81897,180Open House Co., Ltd. (3288)

19 |Non-Consolidated Statements of Income(Million yen)
FY2018(From October 1, 2017
to September 30, 2018)

FY2019(From October 1, 2018
to September 30, 2019)

Operating revenue

9,762

12,385

Operating cost

5,104

6,074

Gross operating profit

4,658

6,311

Selling, general and administrative expenses

4,311

5,453

346

858

Operating income
Non-operating income
Interest income

99

257

15,01415,020

Guarantee commission received

591

152

Other

253

313

15,95915,743

Bad debts expenses―

6Interest expenses

468

612

Interest on bonds

8

7

Amortization of bond issuance cost5

5

Guarantee commission

425

137

Commission fee

19

227

Dividends income

Total non-operating income
Non-operating expenses

Other

15

59

Total non-operating expenses

944

1,056

Ordinary income

15,361

15,545

Income before Income taxes

15,361

15,545

Income taxes-current

185

27

Income taxes-deferred

(32)

(346)

Total income Taxes

152

(319)

15,20915,864

Net income

Open House Co., Ltd. (3288)

20 |Non-Consolidated Statements of Changes in Shareholders' Equity
FY2018 (From October 1, 2017 to September 30, 2018)(Million yen)
Shareholders’ equity
Capital surplus
Capitalstock

Retained earnings
Other retained
earnings

Total
shareholders’equity(3,102)18,012

Other
capitalsurplusTotal
capitalsurplusLegalretainedearnings

4,032

3,815

2,118

5,934

35

Issuance of new shares(Exercise of subscription
rights to shares)

32

32

32

65

Issuance of new shares(Issuance of restricted stock)

29

29

29

58

Balance at October 1, 2017

Retainedearnings brought
forward11,113Total
retainedearnings

Treasury
stock

Legal
capitalsurplus11,148Change of items during theperiodDividends from surplus(4,520)(4,520)(4,520)Net income

15,20915,20915,209Purchase of treasury stock(3,000)(3,000)Net changes of items otherthan shareholders’ equity
Total changes of items during
the period

62

62

―

62

―

10,688

10,688(3,000)

7,813

Balance at September 30, 2018

4,094

3,877

2,118

5,996

35

21,801

21,837(6,102)25,825

Valuation and translation adjustments

Balance at October 1, 2017

Valuation difference on
available-for-salesecurities

Total valuation andtranslation adjustments

8

8

Subscription rights toshares408

Total net assets

18,429Change of items during theperiodIssuance of new shares(Exercise of subscription
rights to shares)

65

Issuance of new shares(Issuance of restricted stock)

58

Dividends from surplus(4,520)Net income

15,209Purchase of treasury stock(3,000)Net changes of items otherthan shareholders’ equity

7

7

(20)

(13)

Total changes of items during
the period

7

7

(20)

7,800

Balance at September 30, 2018

15

15

388

26,229Open House Co., Ltd. (3288)

21 |FY2019 (From October 1, 2018 to September 30, 2019)(Million yen)
Shareholders’ equity
Capital surplus

Balance at October 1, 2018

Retained earnings

Capital
stock

Legal
capitalsurplus

OthercapitalsurplusTotal
capitalsurplusLegalretainedearnings

4,094

3,877

2,118

5,996

35

Other retained
earnings

Change of items during theperiodIssuance of new shares(Exercise of subscription
rights to shares)
Issuance of new shares(Issuance of restricted stock)

2,118

5,996

Treasury
stock

Total
shareholders’equity21,801

21,837(6,102)25,825(2,685)(2,685)

19,115

19,151Retainedearnings brought
forward

Cumulative effects ofchanges in accounting
policies
Restated balance

Total
retainedearnings

35(2,685)

4,094

3,877

(6,102)

23,140

104

104

104

208

35

35

35

71

Dividends from surplus(6,249)(6,249)(6,249)Net income

15,864

15,864

15,864Purchase of treasury stock
Increase by share exchanges
Net changes of items otherthan shareholders’ equity
Total changes of items during
the period
Balance at September 30, 2019

3,829

3,829

3,707

7,536

139

3,829

3,968

―

9,615

9,615

(2,704)

11,020

4,234

4,017

5,947

9,965

35

28,731

28,767(8,806)34,160

15

15

Subscription rights
to shares
388

Cumulative effects of changes
in accounting policies
Restated balance(6,411)

139

Valuation and translation adjustments
Valuation difference on
Total valuation andavailable-for-sale securities translation adjustments
Balance at October 1, 2018

(6,411)

Total net assets
26,229(2,685)

15

15

388

23,544

Change of items during the period
Issuance of new shares (Exerciseof subscription rights to shares)
Issuance of new shares(Issuance of restricted stock)

208
71

Dividends from surplus(6,249)Net income

15,864Purchase of treasury stock(6,411)

Increase by share exchanges

7,536

Net changes of items other thanshareholders’ equity
Total changes of items during theperiodBalance at September 30, 2019

(7)

(7)

(75)

(82)

(7)

(7)

(75)

10,9378

8

31234,481

Open House Co., Ltd. (3288)

22 |