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 Second Quarter Ended September 30, 2021〔Based on Japanese GAAP〕
May 14, 2021
Company name:Open House Co., Ltd.

Stock exchange listings:
Code Number:
URL:
Representative:
Scheduled date of quarterly securities report filing:
Scheduled starting date of dividend payments:
Supplementary materials for quarterly financial results:
Quarterly results briefing meeting :Tokyo Stock Exchange, First section3288
https://openhouse-group.co.jp/ir
Masaaki Arai, President and CEO
May 14, 2021
June 11, 2021
Yes
Yes (for institutional investors and analysts in Japanese)(Million yen, rounded down)

1.

Consolidated Financial Results for the Second Quarter Ended September 30, 2021
(October 1, 2020 to March 31, 2021)(1) Consolidated operating results (Cumulative)
Revenue(% figures indicate year-on-year change)

Operating income

Ordinary income

Six months ended
Million yen%
Million yen%
Million yen%March 31, 2021
363,945
39.0
41,61453.9
40,69956.0March 31, 2020
261,922
7.9
27,035
13.6
26,091
17.6(Note) Comprehensive income: Six months ended March 31, 2021
¥ 34,019 million [ 85.2％]
Six months ended March 31, 2020
¥ 18,365 million [ 16.0％]
EPS
Six months ended
March 31, 2021
March 31, 2020

Profit attributable toowners of parent
Million yen%

32,751
18,136

80.6
12.4

Diluted EPS
Yen

Yen

260.24164.03259.15163.02(2) Consolidated Financial Position
Total assets
Net assets
Equity ratio
As ofMillion yen
Million yen%March 31, 2021
829,680
313,21231.7
September 30, 2020
569,038
233,695
41.0(Reference) Shareholders’ equity: As of March 31, 2021
¥ 262,781 million
As of September 30, 2020
¥ 233,477 million

2.

Dividends

Annual dividends per share
1Q-end2Q-endYen――

FY 2020
FY 2021
FY 2021 (Forecast)(Note) Revision of the latest dividend forecast: Yes

3.

3Q-end

Yen
40.00
50.00

Year-end

Total

Yen
―

Yen
40.00

Yen
80.00

―60.00110.00

Forecast of Consolidated Financial Results for FY2021(October 1, 2020 to September 30, 2021)(% figures indicate year-on-year change)

Operating income

Ordinary income

Profit attributable toowners of parent

Million yen%

Million yen%

Million yen%

Yen

Full year
788,000 36.8
96,00054.5(Note) Revision of the latest consolidated results forecast: Yes

93,00020.2

67,00012.6

532.39

Revenue
Million yen%Open House Co., Ltd. (3288)

EPS

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

1 (Pressance Corporation Co.,Ltd.)(2) Adoptions of special accounting methods in presentation of quarterly financial statements: Yes(3) 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:

Noneⅲ) Changes in accounting estimates:

Noneⅳ) Revisions and restatements:

None(4) Number of shares issued and outstanding (common stock)ⅰ) Number of shares issued at period-end (including treasury stock)
March 31, 2021:

125,947,000 shares

September 30, 2020:

125,819,100 shares

September 30, 2020:

41 sharesⅱ) Treasury stock at period-end
March 31, 2021:

41 sharesⅲ) Average number of shares issued during the period (quarterly consolidated cumulative basis)
March 31, 2021:

125,848,102 shares

March 31, 2020: 110,571,232 shares* This quarterly financial results report is not subject to quarterly review procedure based on the Financial Instruments andExchange Act.
* Notes regarding forward-looking statements:
Consolidated business forecasts are based on assumptions from information available to management at the time ofdisclosure and those deemed to be reasonable.
Actual results may differ significantly from forecast due to various unpredictable reasons.

Open House Co., Ltd. (3288)

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Consolidated Quarterly Financial Statements1）Consolidated Quarterly Balance Sheets(Million yen)

End of FY2020(as of September 30, 2020)
AssetsCurrent assets
Cash and deposits
Operating accounts receivable
Real estate for sale
Real estate for sale in process
Operating loans
OtherAllowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Investments and other assets
Total non-current assets
Deferred assets
Total assets
Liabilities
Current liabilities
Notes payable
Operating accounts payable
Electronically recorded monetary claims
Short-term loans payable
Current portion of bonds
Current portion of long-term loans payable
Income taxes payable
Provision
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term loans payable
Provision for share awards
Retirement benefit liability
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earningsTreasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total accumulated other comprehensive income
Subscription rights to shares
Non-controlling interests
Total net assets
Total liabilities and net assets

End of FY2021 2Q(as of March 31, 2021)

219,227620
64,372
172,914
37,463
12,787(262)
507,123

314,754
1,176
68,821
342,549
35,984
17,052(374)
779,963

5,010
3,080
53,79861,89024
569,038

19,8083,119
26,76749,695
21
829,680

4,831
17,525―
103,930242
8,912
10,831
3,771
26,669176,713

1,323
20,733
9,606
139,936
242
70,375
18,5654,448
36,433
301,665847
157,347―
328
105―
158,628
335,342726
212,837
231
349
119
539
214,802516,467

19,741
28,877
186,047(0)234,666

19,82928,965
213,751(0)262,5467(1,195)(1,188)217―
233,695
569,038

10
224
235
576
49,854313,212829,680

Open House Co., Ltd. (3288)

3|2）Consolidated Quarterly Statements of Income and Consolidated Quarterly Statements of Comprehensive Income
Consolidated Quarterly Statements of Income(Million yen)Six months ended
March 31, 2020
(From October 1, 2019
to March 31, 2020)

Six months ended
March 31, 2021
(From October 1, 2020
to March 31, 2021)

Revenue

261,922363,945

Cost of revenue

218,778

298,101

Gross profit

43,14365,843

Selling, general and administrative expenses

16,10824,229Operating income

27,03541,614

Interest income

59

11

Dividends income

011

House rent income

7170

Gain on sale of investment securities
Share of profit of entities accounted for using equity
method
Other

109--

1,448

166

541

Total non-operating income

407

2,082

1,069

1,371

180

321

-

908

101

396

Non-operating income

Non-operating expenses
Interest expenses
Commission expenses
Loss on valuation of investment securities
Other
Total non-operating expenses

1,350

2,997

26,091

40,699Gain on bargain purchase-

15,475

Total extraordinary income-

15,475

Loss on step acquisitions-

11,095

Total extraordinary losses-

11,095

Profit before income taxes

26,09145,079

Income taxes

7,954

12,483

Profit18,13632,596-(155)

18,13632,751

Ordinary income
Extraordinary income

Extraordinary losses

Loss attributable to non-controlling interests
Profit attributable to owners of parent

Open House Co., Ltd. (3288)

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Consolidated Quarterly Statements of Comprehensive Income(Million yen)Six months ended
March 31, 2020
(From October 1, 2019
to March 31, 2020)
ProfitSix months ended
March 31, 2021
(From October 1, 2020
to March 31, 2021)

18,13632,596

Other comprehensive incomeValuation difference on available-for-sale securities(2)2

Foreign currency translation adjustment
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income

231

1,416

-3229

1,423

Comprehensive income

18,36534,019Comprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable tonon-controlling interests

18,36534,178-(158)

Open House Co., Ltd. (3288)

5|3）Consolidated Quarterly Statements of Cash Flows（Millions of yen）

Six months ended
March 31, 2020
(From October 1, 2019
to March 31, 2020)

Six months ended
March 31, 2021
(From October 1, 2020
to March 31, 2021)

Cash flows from operating activities
Profit before income taxes

26,09145,079Depreciation and amortization

254378

Increase (decrease) in allowance for doubtful accounts

(16)

20

Increase (decrease) in net defined benefit liability

1920

Increase (decrease) in provision

34562

Interest and dividend income

(59)

(22)

Foreign exchange losses (gains)Share of loss (profit) of entities accounted for using equity
methodGain on bargain purchase

(61)

(167)

-(1,448)-(15,475)

Interest expenses

1,069

1,371

Loss (gain) on valuation of investment securities-908

Loss (gain) on step acquisitions-

11,095Decrease (increase) in trade receivables

(552)

(48)

(19,912)(7,715)

Increase (decrease) in trade payables

1,809

6,970

Decrease (increase) in operating loans receivable(5,722)

1,479

Increase (decrease) in advances received

2,557

3,466

182

325

Increase (decrease) in deposits received(3,305)(5,328)Other(1,590)(1,714)

Subtotal

798

39,758Interest and dividends received

53

18

Interest paid

(1,068)(1,375)

Income taxes paid

(8,479)(6,654)

Net cash provided by (used in) operating activities(8,696)

31,746

Payments into time deposits

(652)

-

Purchase of property, plant and equipment(425)(1,051)

Decrease (Increase) in inventories

Increase (decrease) in guarantee deposits received

Cash flows from investing activities

Proceeds from sale of property, plant and equipment

-

46

(50)

(164)

(1,968)(6,019)

984

-

1,560

540-

(382)

(961)

Proceeds from refund of leasehold and guarantee deposits
Proceeds from purchase of shares of subsidiaries resulting inchange in scope of consolidation
Payments for investments in capital of subsidiaries andassociates
Purchase of shares of subsidiaries and associates

66

64-

35,256-(1,321)-(304)

Other(32)(347)

Net cash provided by (used in) investing activities(901)

25,250Purchase of intangible assets
Purchase of investment securities
Proceeds from sale of investment securities
Proceeds from redemption of investment securities
Proceeds from divestments
Payments of leasehold and guarantee deposits

Open House Co., Ltd. (3288)

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Six months ended
March 31, 2020
(From October 1, 2019
to March 31, 2020)

Six months ended
March 31, 2021
(From October 1, 2020
to March 31, 2021)

Proceeds from short-term borrowings

160,679

151,917

Repayments of short-term borrowings(153,607)(122,722)

Cash flows from financing activities

Proceeds from long-term borrowings

105,141

68,486

Repayments of long-term borrowings(77,843)(58,326)

(201)

(121)

Redemption of bonds
Proceeds from exercise of employee share options

55

58

Dividends paid

(3,647)(5,032)

Net cash provided by (used in) financing activities

30,57634,258114981Net increase (decrease) in cash and cash equivalents

21,092

92,236

Cash and cash equivalents at beginning of period
Increase (decrease) in cash and cash equivalents resulting fromchange in scope of consolidation

135,345219,218-199

Cash and cash equivalents at end of period

156,438

311,654

Effect of exchange rate change on cash and cash equivalents

Open House Co., Ltd. (3288)

7|4) Notes to Consolidated Quarterly Financial Statements(Notes on Going Concern Assumptions)Not applicable(Changes in significant subsidiaries during the period)
Not applicable(Significant changes in consolidated subsidiaries during the period)
Pressance Corporation Co., Ltd. and its subsidiaries were included in the scope of consolidation from since thesecond quarter for fiscal 2021 by acquiring additional shares of Pressance Corporation, which was an affiliate underthe equity method.
(Adoption of Special Accounting Methods for Preparation of Quarterly Consolidated Financial Statements)
Tax expenses is calculated by multiplying income before income taxes by an effective tax rate that was reasonably
estimated by applying tax effect accounting to estimated profit before income taxes for the fiscal year ended
September 2021 including the second quarter.
(Segment and Other Information)【Segment Information】
Ⅰ. Six months ended March 31, 2020 (October 1, 2019 to March 31, 2020)
Information on revenue, income or loss, and other items by reportable segment（Million yen）
Amount Recorded on
Adjustments
Consolidated(Note1)
Quarterly Statementsof Income (Note2)

Reportable Segment
Single-family
Condominiums
homes related

Revenue
Revenue from
Outside Customers
Intersegment
revenue and transfers

Property
resalePressanceCorporation

OthersTotal

186,467

8,533

55,031

11,889-261,922-

261,992--

28

21-

50

(50)

-

Total

186,467

8,533

55,06011,911-

261,972(50)

261,992

Segment Income (Loss)

20,896

(47)

5,536

1,221-

27,607(572)27,035(NOTE)
１. Adjustment of ¥ (572) million for segment income (loss) includes intersegment elimination of ¥331 million and corporate
expenses of ¥ (904) million that is not distributed to the reportable segments. Corporate expenses are primarily general andadministrative expenses that do not belong to the reportable segments.
2. Segment income (loss) has been adjusted to operating income described in consolidated quarterly statements of income.

Ⅱ. Six months ended March 31, 2021 (October 1, 2020 to March 31, 2021)
Information on revenue, income or loss, and other items by reportable segment
Reportable Segment
Single-family
Condominiums
homes related

Revenue
Revenue from
Outside Customers
Intersegment
revenue and transfers

Property
resaleOthersPressanceCorporation

Total（Million yen）
Amount Recorded on
Adjustments
Consolidated(Note1)
Quarterly Statementsof Income (Note2)

235,203

4,172

55,563

19,51349,491

363,945-363,945-

471

26

115

0613

(613)

-Total235,203

4,644

55,58919,62949,492364,558(613)363,945

Segment Income (Loss)

32,910

(816)

6,125

2,117

2,160

42,497(883)

41,614(NOTE)
１. Adjustment of ¥ (883) million for segment income (loss) includes intersegment elimination of ¥149 million and corporate
expenses of ¥ (1,032) million that is not distributed to the reportable segments. Corporate expenses are primarily general andadministrative expenses that do not belong to the reportable segments.
2. Segment income (loss) has been adjusted to operating income described in consolidated quarterly statements of income.

Open House Co., Ltd. (3288)

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2. Notes relating to changes in reportable segments etc.
The Group has changed its reportable segments from this second quarter, and has added “Pressance Corporation”
as a new reportable segment due to acquisition of Pressance Corporation on January 2021. As a result, the Grouphas designated five segments: “Single-family homes related business”, “Condominiums business”, “Property resalebusiness”, “Others” and “Pressance Corporation” as reportable segments.

(Material profit from negative goodwill)
The Company has recognized the gain on negative goodwill for reportable segment of "Pressance Corporation"
through acquisition of Pressance Corporation and making it as a consolidated subsidiary.
The recorded amount of profit on negative goodwill by the said event was ¥15,475 million and not included insegment profits as it was reported in extraordinary profits.

Open House Co., Ltd. (3288)

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