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, 2017 〔Based on Japanese GAAP〕〕

November 14, 2017
Open House Co., Ltd.
Tokyo Stock Exchange, First section
3288
http://openhouse-group.com/ir
Masaaki Arai, President and CEO
December 20, 2017
December 21, 2017
December 21, 2017
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, 2017
(October 1, 2016 to September 30, 2017)(1) Consolidated operating results(% figures indicate year-on-year change)

Revenue

Operating income

Million yen%

Million yen%

Million yen

FY 2017304,651
23.2
37,61720.1
FY 2016
247,21037.9
31,32047.0(Note) Comprehensive income: From October 1, 2016 to September 30, 2017
From October 1, 2015 to September 30, 2016
EPS

Diluted EPS
YenMillion yen%

36,131
23.9
24,797
29,15443.7
18,709¥ 24,894 million (32.9%)¥ 18,733 million (48.4%)

32.5
48.1

ROE

Million yen

Yen%

Net assets

FY 2017
FY 2016

Cash flows frominvesting activities

Operating income
Margin
%

%

15.7
15.9
¥ － million¥ － million

12.3
12.7

Equity ratio

Net assets per share

Million yen

September 30, 2017
256,736
83,379September 30, 2016
204,868
64,084(Reference) Shareholders’ equity: As of September 30, 2017: ¥ 82,970 million
As of September 30, 2016: ¥ 63,708 million(3) Consolidated Cash Flows
Cash flows fromoperating activities%

ROA

FY 2017443.41440.7633.8
FY 2016332.08330.56
33.7(Reference) Equity in net income of affiliated companies: As of September 30, 2017:
As of September 30, 2016:(2) Consolidated Financial Position
Total assets

Profit attributable toowners of parent

Ordinary income

%

Yen

32.3
31.1

1,487.19
1,133.92

Cash flows fromfinancing activities

Cash and cash
equivalents at FY end

Million yen

Million yen

Million yen

Million yen

(799)
9,817

(1,337)(2,672)

25,181
17,332

90,91067,508Open House Co., Ltd. (3288)

1|

2.

Dividends
Annual dividends per share

FY 2016
FY 2017
FY 2018 (Forecast)3.

1Q-end2Q-end3Q-endYear-end

Total

Yen
―
―
―

Yen
0.00
30.00
46.00

Yen
―
―
―

Yen
50.00
35.00
46.00

Yen
50.00
65.00
92.00

Dividend on
Total dividends Payout ratio
equity(Consolidated)(Annual)(Consolidated)
Million yen
2,809
3,625

%
15.1
14.7

%
5.1
5.0

17.1

Forecast of Consolidated Operating Results for FY2018(October 1, 2017 to September 30, 2018)(% figures indicate year-on-year change)

Revenue

Operating income

Ordinary income

Profit attributable toowners of parent

EPS

Million yen%

Million yen%

Million yen%

Million yen%

Yen

165,000
380,000

11.2
24.7

20,30044,70011.3
18.8

19,70043,50010.5
20.4

13,60030,00016.7
21.0

243.77537.73(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: Noneⅱ) 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, 2017: 57,463,600 shares

September 30, 2016: 57,400,000 sharesⅱ) Treasury stock at period-end
September 30, 2017: 1,673,194 shares

September 30, 2016:

1,215,836 sharesⅲ) Average number of shares issued
September 30, 2017: 55,923,878 shares

September 30, 2016: 56,340,693 sharesOpen House Co., Ltd. (3288)

2|

[Reference] Non-Consolidated Financial Results for the fiscal year ended September 30, 2017
(October 1, 2016 to September 30, 2017)(1) Non-Consolidated Operating Results
Operating revenue
FY 2017
FY 2016(% figures indicate year-on-year change)

Operating income

Net income

Million yen%

Million yen%

Million yen%

Million yen%

10,281
8,528

20.6
17.5

2,691
2,592

3.8
13.2

8,099
5,720

41.6
116.2

7,375
5,040

46.3
200.4

EPS
FY 2017
FY 2016

Ordinary income

Diluted EPS
Yen

Yen

131.8889.47

131.0989.06(2) Non-Consolidated Financial Position
Total assets
Million yen

Net assets
Million yen

September 30, 201761,29018,429September 30, 2016
44,67016,650(Reference) Shareholders’ equity: As of September 30, 2017: ¥ 18,021 million
As of September 30, 2016: ¥ 16,274 million

Equity ratio

Net assets per share
%

Yen

29.4
36.4

323.02289.66*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 Statements
1））Consolidated Balance Sheets(Million yen)
FY 2016(as of September 30, 2016)

FY 2017(as of September 30, 2017)

Cash and cash equivalents

67,50890,910Accounts receivable, trade

577

925

AssetsCurrent assets

Real estate for sale＊2

34,434＊2

19,542

Real estate for sale in process＊2

83,112＊2

125,351

Operating loans

＊2

5,708

＊2

6,056

Deferred tax assets

1,428

959

Other

4,173

4,861

Allowance for doubtful accounts
Total current assets

(151)

(178)

196,792

248,429

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

Buildings and structures, net
Land

(971)

3,119

＊2

(1,108)

＊3

1,593
＊2

873

＊3

(498)

Other
Accumulated depreciation

2,565

2,010
＊2

682

Other, net
Total tangible fixed assets
Intangible fixed assets

830
789

＊3

(516)

184

273

2,651

3,113

1,389

1,299

Investments and other assets
Investment securities＊1

Deferred tax assets
Other
Total investments and other assets

1,607

＊1

1,643

101
＊1

2,262

3
＊1

2,194

3,972

3,841

8,013

8,255

Bond issuance cost

62

51

Total deferred assets

62

51

204,868

256,736

Total fixed assets
Deferred assets

Total assets

Open House Co., Ltd. (3288)

4|

(Million yen)

FY 2016(as of September 30, 2016)

FY 2017(as of September 30, 2017)

8,874

10,652

Liabilities
Current liabilities
Accounts payable
Short-term loans payable＊2、＊4

Current portion of bonds
Current portion of long-term loans payable

34,937

＊2、＊4

582
＊2

8,458

41,854
562

＊2

8,696

Income taxes payable

6,594

5,205

Advances received

7,324

7,535

Guarantee deposits received

1,984

1,151

Provision for bonuses

1,135

1,467

610

645

Other

3,788

4,841

Total current liabilities

74,28882,613

Provision for warranties for completed construction

Long-term liabilities
Bonds payable
Long-term loans payable

2,555
＊2、＊5

63,792

1,993
＊2、＊5

88,641

Deferred tax liabilities

52

17

Net defined benefit liability

11

12

Asset retirement obligations

81

79

Other

3

―

66,49590,743

140,784

173,357

3,982

4,032

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

5,883

5,934

Retained earnings

55,72376,038Treasury stock(1,852)(3,102)

Total shareholders’ equity

63,73682,902Other comprehensive income
Net unrealized holding gains/losses on securities

58

Foreign currency translation adjustment

(33)

60

Accumulated other comprehensive income

(28)

68

375

408

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

64,084

83,379204,868

256,736

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

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

Gross profit
Selling, general and administrative expenses
Operating income

200,828

FY2017(From October 1, 2016
to September 30, 2017)
304,651＊2

46,382＊1

15,062

248,532
56,118＊1

18,501

31,32037,6178

12Non-operating income
Interest income
Dividends income

23Gain on sales of investment securities

20―

House rent income

5464

Foreign exchange gain

―

256

Other

106

108

Total non-operating income

191

444

Interest expenses

795

892

Commission fee

988

682

Foreign exchange losses

251

―

Other

322

354

2,357

1,929

Ordinary income

29,15436,131

Income before income taxes

29,15436,131

Income taxes-current

10,71910,807

Non-operating expenses

Total non-operating expenses

Income taxes-deferred

(275)

526

Total income taxes

10,444

11,334

Net income

18,70924,797

Profit attributable to owners of parent

18,70924,797

Open House Co., Ltd. (3288)

6|

Consolidated Statements of Comprehensive Income(Million yen)

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

FY2017(From October 1, 2016
to September 30, 2017)18,70924,797(2)

3

Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total other comprehensive income
Comprehensive income(Breakdown)Comprehensive income attributable toshareholders’ of the parent

93

26
＊1 ＊2

23

＊1 ＊2

96

18,73324,894

18,77324,894

Open House Co., Ltd. (3288)

7|

3））Consolidated Statements of Changes in Shareholders' Equity
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 to owners ofparent18,70918,709Purchase 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

Subscription rights
to shares

Total net assets

156

47,609

Accumulated other comprehensive income

Balance at October 1, 2015

Valuationdifference on
available-for-sal
e securities

Foreign currencytranslation
adjustment

Total
accumulated
othercomprehensive
income

8

(60)

(51)

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

Profit attributable to owners ofparent18,709Purchase 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)

8|

FY2017 (From October 1, 2016 to September 30, 2017)(Million yen)
Shareholders’ equity
Capital stock
Balance at October 1, 2016

Capital surplus

Retained earnings

3,982

5,883

55,72350

50

Treasury stock

Total shareholders’equity(1,852)

63,736

Change of items during the period
Issuance of new shares-exercise ofsubscription rights to shares

100

Dividends from surplus(4,482)(4,482)

Profit attributable toowners of parent

24,797

24,797Purchase of treasury stock(1,250)(1,250)Net changes of items other thanshareholders’ equity
Total changes of items during theperiod50

50

20,315(1,250)19,165

Balance at September 30, 2017

4,032

5,934

76,038(3,102)82,902

Accumulated other comprehensive income
Valuationdifference on
available-for-salesecurities
Balance at October 1, 20165

Foreign currencytranslation
adjustment

Total accumulated
othercomprehensive
incomeSubscription
rights to shares

(33)

(28)

375

Total net
assets64,084

Change of items during the period
Issuance of new shares-exercise ofsubscription rights to shares

100

Dividends from surplus(4,482)

Profit attributable toowners of parent

24,797Purchase of treasury stock(1,250)Net changes of items other thanshareholders’ equity

3

93

96

32

129

Total changes of items during theperiod

3

93

96

32

19,295

Balance at September 30, 2017

8

60

68

408

83,379Open House Co., Ltd. (3288)

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

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

FY2017(From October 1, 2016
to September 30, 2017)

Income before income taxes

29,15436,131

Depreciation and amortization

391

372

Share-based compensation expenses

219

62

Loss (Profit) on sales of investment securities

(20)

―

Increase (Decrease) in provision for bonuses

229

332

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

(20)

26

98

35

(0)

1

Interest and dividends income

(10)

(15)

Foreign exchange loss (gain)

276

(174)

Interest expense

795

892

Commission for syndicate loan

948

555

Amortization of bond issuance cost

13

11

Decrease (Increase) in notes and accounts receivable-trade

46

(340)

Cash flows from operating activities

Decrease (Increase) in inventories(15,027)(27,302)

Increase (Decrease) in notes and accounts payable-trade

1,099

1,778

Decrease (Increase) in operating loans

(50)

(348)

Increase (Decrease) in advances received

932

210

Increase (Decrease) in guarantee deposits received

(104)

(832)

Increase (Decrease) in deposits received

909

1,019

Other

574

399

Subtotal

20,451

12,815

10

15

(745)

(875)

Income taxes paid

(9,899)(12,754)

Net cash provided by (used in) operating activities

9,817

(799)

Payments into time deposits(30)(1,446)

Proceeds from withdrawal of time deposits

35

1,446

Purchase of tangible fixed assets

(257)

(807)

Purchase of intangible fixed assets

(165)

(169)

Purchase of investment securities(1,747)――

Interest and dividend income received
Interest expenses paid

Cash flows from investing activities

Proceeds from sales and redemption of investment securities

184

Purchase of stocks of subsidiaries and affiliates

(300)

―

Payments for lease and guarantee deposits

(462)

(426)

Proceeds from collection of lease and guarantee deposits

62

26

Other

9

38

(2,672)(1,337)

Net cash provided by (used in) investing activities

Open House Co., Ltd. (3288)

10 |（Millions of yen）

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

FY2017(From October 1, 2016
to September 30, 2017)

Increase in short-term loans payable

62,382

97,968Decrease in short-term loans payable(60,942)(91,051)

Proceeds from long-term loans payable

75,72487,088

Repayment of long-term loans payable(55,704)(62,007)

Commission for syndicate loan paid

(948)

(555)

Redemption of bonds

(662)

(582)

Cash flows from financing activities

―

70

(782)

(1,256)(1,697)(4,482)

(37)

(10)

17,332

25,181

Effect of exchange rate changes on cash and cash equivalents

(293)

356

Net increase (decrease) in cash and cash equivalents

24,183

23,401

Cash and cash equivalents at beginning of period

43,32567,508Proceeds from exercise of share options
Purchase of treasury stock
Cash dividend paid
Other
Net cash provided by (used in) financing activities

Cash and cash equivalents at end of period*167,508*1

90,910Open House Co., Ltd. (3288)

11 |(Notes to Consolidated Balance Sheets)*1

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

FY 2016(as of September 30, 2016)
Other in Investments and other assets

FY 2017(as of September 30, 2017)

155

100

475

182

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

Pledged assets and secured liabilities

Pledged assets are as follows.
(Million yen)

FY 2016(as of September 30, 2016)

FY 2017(as of September 30, 2017)

Real estate for sale

28,066

11,690Real estate for sale in process

58,51987,908Operating loans

3,753

3,337

Buildings and structures

126

165

Land

247

242

90,713103,344

Total
Secured liabilities are as follows.

(Million yen)

FY 2016(as of September 30, 2016)

FY 2017(as of September 30, 2017)

Short-term loans payable

30,80933,520Current portion of long-term loans payable

7,080

7,474

39,59349,72077,48390,715Long-term loans payable
Total
*3

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

FY 2016(as of September 30, 2016)
Accumulated impairment loss

FY 2017(as of September 30, 2017)

91

111

*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 2016(as of September 30, 2016)

FY 2017(as of September 30, 2017)

Total loan commitment

43,20067,500

Outstanding loans

24,817

40,122

Balance of unexecuted loans

18,382

27,377*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)
FY2017(From October 1, 2016
to September 30, 2017)

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

482

535

2,400

2,847

280

385

Provision of allowance for doubtful accounts―

30

Retirement benefit expenses

45

52

Advertising expenses

1,361

1,771

Rents

1,723

2,222

Taxes and dues

1,346

2,184

Sales commission

2,394

2,434

Salaries
Provision for bonuses*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)
FY2016FY2017(From October 1, 2015
(From October 1, 2016
to September 30, 2016)
to September 30, 2017)
145

228

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, 2016
to September 30, 2017)

FY2016(From October 1, 2015
to September 30, 2016)
Valuation difference on available-for-sale securities:
Amount recognized during the year

(4)4

Amount of recycling

―

―

Total

(4)

4

Amount recognized during the year

26

93

Amount of recycling

―

―

Total

26

93

Total before income tax effect

22

98

1

(1)

23

96

Foreign currency translation adjustment:

Income tax effectTotal other comprehensive income*2

The amount of income tax effects associated with other comprehensive income(Million yen)
FY2016(From October 1, 2016
to September 30, 2017)

FY2016(From October 1, 2015
to September 30, 2016)
Valuation difference on available-for-sale securities:
Before income tax effect(4)

4

Amount of income tax effects

1(1)

After tax effect adjustment

(2)

3

26

93

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

After tax effect adjustment

26

93

Total other comprehensive income
Before income tax effect22

98

Amount of income tax effects

1(1)

After tax effect adjustment

2396Open 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)
FY2016FY2016(From October 1, 2015
(From October 1, 2016
to September 30, 2016)
to September 30, 2017)
Cash and deposits
90,91067,508Deposits with a term of over 3 months
Cash and cash equivalents――

67,50890,910Open 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
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

Open
House
Architect

Condo

Property
Resales

Others

Revenue from
Outside Customers

4,221

119,563

31,23618,991

72,795403

247,210―247,210

Intersegment
revenue and transfers

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)

31,320Depreciation

82

71

171

10

8

6

350

40

391

Amortization of
goodwill

―

―

137

―

―

―

137

―

137

Total

Revenue

Other items(NOTE)
１.

Adjustment of ¥(253)million 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.

Open House Co., Ltd. (3288)

16 |FY2017 (From October 1, 2016 to September 30, 2017)（Million yen）
Reportable Segment

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

Brokerage

Singlefamily
Homes

Open
House
Architect

Condo

Property
Resales

OthersTotal

Revenue from
Outside Customers

5,274

151,807

30,867

26,48088,448

1,772

304,651―

304,651

Intersegment
revenue and transfers

4,923

191

8,286

―

527

52

13,981(13,981)―

Total

10,197

151,998

39,154

26,48088,976

1,825

318,632(13,981)304,651

Segment Income (Loss)

3,087

17,300

1,874

4,345

11,122

54

37,783(166)

37,617

Depreciation

101

52

146

11

8

7

327

44

372

Amortization of
goodwill

―

―

137

―

―

―

137

―

137

Revenue

Other items(NOTE)
１. Adjustment of ¥ (166) million for segment income includes intersegment elimination of ¥121 million and corporate expenses of¥ (287) 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.

Notes relating to changes in reportable segments etc.
(Changes in names of reportable segments)
The Group changed the name of “Asakawa Home” reportable segment to “Open House Architect” from the first quarter of the current
fiscal year. This change had no effect on profit and loss for the current fiscal year.
Segment information for the previous fiscal year on a consolidated basis was prepared based on the reportable segments applied forthe current fiscal year under review.

Open House Co., Ltd. (3288)

17 |Non-Consolidated Financial Statements
Non-Consolidated Balance Sheets(Million yen)
FY 2016(as of September 30, 2016)
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
Total tangible fixed assets
Intangible fixed assets
Software
Other
Total intangible fixed assets
Investments and other assets
Investment securities
Stocks of subsidiaries and associates
Long-term prepaid expenses
Deferred tax assets
Lease and guarantee deposits received
Other
Allowance for doubtful accounts
Total investments and other assets
Total fixed assets
Deferred assets
Bond issuance cost
Total deferred assets
Total assets

FY 2017(as of September 30, 2017)32,386910
170
226

43,241
1,078
215
292

―

4,800

495
418
34,607537
607
50,772

355
24
57
38
475

658
25
119
―

140
3
143

172
3
175

165
8,196
4
97
889
51
(10)
9,394
10,014

101
8,196
2
―
1,161
44
(10)
9,496
10,47548
48
44,670424261,290803

Open House Co., Ltd. (3288)

18 |(Million yen)
FY 2016(as of September 30, 2016)

FY 2017(as of September 30, 2017)

Liabilities
Current liabilities
Current portion of bonds

252

242

Current portion of long-term loans payable

562

625

Accounts payable

499

806

Accrued expenses

147

176

Advances received

165

6

Deposits received

51

56

Provision for bonuses

441

580

Other

98

167

2,217

2,659

Bonds payable

1,815

1,573

Long-term loans payable

23,987

38,625―

3

25,80240,201

28,02042,861

3,982

4,032

Legal capital surplus

3,765

3,815

Other capital surplus

2,118

2,118

Total capital surplus

5,883

5,934

35

35

8,220

11,113

8,256

11,148Treasury stock(1,852)(3,102)

Total shareholders’ equity

16,26918,01258

5

8

Total current liabilities
Long-term liabilities

Deferred tax liabilities
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

375

408

16,65018,42944,67061,290Open House Co., Ltd. (3288)

19 |Non-Consolidated Statements of Income(Million yen)
FY2016(From October 1, 2015
to September 30, 2016)

FY2017(From October 1, 2016
to September 30, 2017)

Operating revenue

8,528

10,281

Operating cost

3,139

4,034

Gross operating profit

5,388

6,246

Selling, general and administrative expenses

2,796

3,555

Operating income

2,592

2,691

Non-operating income
Interest income

75

4Dividends income

3,787

6,002

Guarantee commission received

376

449

Gain on sales of investment securities

20

―

Other

129

183

4,390

6,640

Interest expenses

96

294

Interest on bonds

11

10

Amortization of bond issuance cost

6

5

Guarantee commission

93

288

Commission fee

955

562

Total non-operating income
Non-operating expenses

Other

98

71

1,261

1,233

Ordinary income

5,720

8,099

Income before Income taxes

5,720

8,099

Income taxes-current

744

691

Income taxes-deferred

(64)

32

Total income Taxes

679

723

5,040

7,375

Total non-operating expenses

Net income

Open House Co., Ltd. (3288)

20 |Non-Consolidated Statements of Changes in Shareholders' Equity

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

Legal
capitalsurplus

OthercapitalsurplusTotal
capitalsurplusLegalretainedearnings

3,765

2,118

5,883

35

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

Balance at October 1, 2015

3,982

Retained earnings

Change of items during theperiodPurchase of treasurystock
Net changes of items
other than shareholders’equityTotal changes of items
during the period
Balance at September 30,
2016

(780)

(780)

―

―

―

―

―

3,343

3,343

(780)

2,562

3,982

3,765

2,118

5,883

35

8,220

8,256

(1,852)

16,269Valuation and translation adjustments

Balance at October 1, 2015

Valuation difference on
available-for-sale securities

Total valuation andtranslation adjustments

8

8

Subscription rights toshares156

Total net assets

13,871

Change of items during theperiod(1,697)

Dividends from surplus
Net income

5,040

Purchase of treasury
stock

(780)

Net changes of items
other than shareholders’equityTotal changes of items
during the period
Balance at September 30,
2016

(2)

(2)

219

216

(2)

(2)

219

2,778

5

5

375

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

21 |FY2017 (From October 1, 2016 to September 30, 2017)(Million yen)
Shareholders’ equity
Capital surplus
Capitalstock

Balance at October 1, 2016

Retained earnings

Legal
capitalsurplus

OthercapitalsurplusTotal
capitalsurplusLegalretainedearnings

3,982

3,765

2,118

5,883

35

50

50

Other retained
earnings
Retained earnings
brought forward

8,220

Total
retainedearnings

8,256

Treasury
stock

Total
shareholders’equity(1,852)

16,269Change of items during theperiodIssuance of newshares-exercise ofsubscription rights to shares

50

100

Dividends from surplus(4,482)(4,482)(4,482)

Net income

7,375

7,375

7,375

Purchase of treasury stock(1,250)(1,250)Net changes of items otherthan shareholders’ equity
Total changes of items during
the period

50

50

―

50

―

2,892

2,892

(1,250)1,743

Balance at September 30, 2017

4,032

3,815

2,118

5,934

35

11,113

11,148(3,102)18,012

Valuation and translation adjustments

Balance at October 1, 2016

Valuation difference on
available-for-salesecurities

Total valuation andtranslation adjustments

5

5

Subscription rights toshares375

Total net assets

16,650Change of items during theperiodIssuance of newshares-exercise ofsubscription rights to shares

100(4,482)

Dividends from surplus

7,375

Net income(1,250)Purchase of treasury stock
Net changes of items otherthan shareholders’ equity

3

3

32

36

Total changes of items during
the period

3

3

32

1,779

Balance at September 30, 2017

8

8

408

18,429Open House Co., Ltd. (3288)

22 |