Note: This document has been translated from the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.
May 15, 2024

Summary of Consolidated Financial Results
for the Second Quarter Ending September 30, 2024
(Based on Japanese GAAP)
Company name:Open House Group Co., Ltd.

Listing:

Tokyo Stock Exchange

Securities code:

3288

URL:

https://openhouse-group.co.jp/ir/en/

Representative:

Masaaki Arai, President and CEO

Inquiries:

Kotaro Wakatabi, Senior Managing Director and CFO

Scheduled date to file quarterly securities report:

May 15, 2024

Scheduled start date of dividend payment

June 12, 2024

Preparation of supplementary material on financial results: Yes
Holding of financial results briefing:1.

Yes (For institutional investors and analysts)(Yen amounts are rounded down to millions, unless otherwise noted.)

Consolidated financial results for the second quarter of the fiscal year ending September 30, 2024
(October 1, 2024 to March 31, 2024)(1) Consolidated Operating Results (Cumulative)
Net sales(Percentages indicate year-on-year changes.)

Operating profit

Ordinary profit

Profit attributable toowners of parent

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

2Q FY 2024

602,756

11.3

55,723(20.0)

58,322(13.6)

51,90216.8

2Q FY 2023

541,794

19.0

69,65016.1

67,5369.6

44,452(12.5)

Note: Comprehensive income: For the second quarter of the fiscal year ending September 2024: 56,951 million yen (33.4%)
For the second quarter of the fiscal year ending September 2023: 42,685 million yen (-8.6%)

Basic earnings
per share

Diluted earnings
per share

Yen

Yen

2Q FY 2024

433.08432.372Q FY 2023

368.93368.25(2) Consolidated financial position
Total assets
As of

Net assets

Equity-to-asset ratio

Millions of yen

Millions of yen%

2Q FY 2024

1,324,039

518,829

34.0

FY 2023

1,198,668

480,416

34.7

Reference:

Equity:As of September 2024: ¥ 450,294 million
As of September 2023: ¥ 415,855 million| 1

Open House Group Co., Ltd. (3288)

2.

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

Total

Yen

Yen

Yen

Yen

Yen

FY 2023

－

72.00

－

92.00

164.00FY 2024

－

83.00
－

83.00

166.00FY 2024 (Forecast)
Note:

Revisions to the forecast of cash dividends most recently announced: None

3. Forecast of consolidated operating results for FY 2024 (October 1, 2023 to September 30, 2024)
Net sales
Millions of yen

Full year

1,300,000(Percentages indicate year-on-year changes)
Basic
Profit attributable toOrdinary profit
earnings
owners of parent
per share

Operating profit% Millions of yen
13.2

124,000%

Millions of yen%

Millions of yen%

Yen(12.9)

120,000(12.4)

92,5000.5

771.84

Note: Revision to the forecast of consolidated results most recently announced: None

| 2Open House Group Co., Ltd. (3288)

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scopeof consolidation):
Yes(Changes in the scope of consolidation related to specific subsidiaries)
New entry: 1 company (Company Name: Sanei Architecture Planning Co., Ltd. (changed its name to MELDIA CO., LTD
on March 1, 2024)).
(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements:
Yes(3) Changes in accounting policies, changes in accounting estimates, and restatement(i)

Changes in accounting policies due to revisions to accounting standards and other regulations: None(ii)

Changes in accounting policies due to other reasons: None(iii)

Changes in accounting estimates: None(iv)

Restatement: None

(4) Number of issued shares (common shares)
(i)

(ii)

Total number of issued shares at the end of the period (including treasury shares)
As of 2Q FY 2024

120,636,400 shares

As of September 30, 2023

120,588,100 shares

Number of treasury shares at the end of the period
As of 2Q FY 2024
As of September 30, 2023

(iii)

1,816,717 shares
3,515 shares

Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
As of 2Q FY 2024

119,843,305 shares

As of 2Q FY 2023

120,491,008 shares

Note on the Number of Issued Shares:*

The quarterly financial results summary is not subject to quarterly review by certified public
accountants or audit firms.

*

Explanation regarding the appropriate use of performance forecasts and other special notes:
The forecasts and other forward-looking statements contained in this summary are based on assumptions frominformation available to the Company at the time of disclosure and those deemed to be reasonable. They do not
imply a commitment by the Company to achieve them. Furthermore, actual performance may vary significantly due
to various factors. For conditions underlying performance forecasts and cautionary notes on the use of performance
forecasts, please refer to "1. Qualitative Information on Quarterly Financial Results (3) Explanation of Future Forecast
Information such as Consolidated Performance Forecasts" on page 3 of the attached document.

| 3Open House Group Co., Ltd. (3288)

1. Qualitative Information Regarding Current Quarterly Results(1) Overview of Business Performance
The Group (the Company, consolidated subsidiaries, and equity method affiliates) has included Sanei Architecture PlanningCo., Ltd. (hereinafter referred to as "Meldia", which changed its company name to MELDIA CO., LTD on March 1, 2024) as aconsolidated subsidiary from the first quarter of the consolidated fiscal year.
The performance for the second quarter of the consolidated fiscal year showed sales of 602,756 million yen (increase of
11.3% compared to the same period of the previous year), operating profit of 55,723 million yen (decrease of 20.0%),
ordinary profit of 58,322 million yen (decrease of 13.6%), and quarterly net profit attributable to owners of parent of 51,902
million yen (increase of 16.8%).
Overview by segment is as follows.
From the first quarter of the consolidated fiscal year, we have changed the classification of reportable segments due to theconsolidation of Meldia as a subsidiary.
(Single-Family Homes Related Business)
In the single-family homes related business, there continues to be high demand for single-family homes in urban areas,and sales have been progressing as planned.
As a result, sales were 327,533 million yen (increase of 10.7% year on year), and operating profit was 31,407 million yen(decrease of 10.7%).
(Condominium Business)
In the condominium business, most property deliveries will occur in the fourth quarter of the consolidated fiscal year,
leading to fewer deliveries in the second quarter. Nevertheless, sales contracts, which are crucial for future performance,
remains steady.
As result, sales were 5,545 million yen (decrease of 79.1% year on year), and operating loss was 1,917 million yen(compared to an operating profit of 4,129 million yen year on year).
(Property Resale Business)
In the property resale business, although the properties delivered during the second quarter of the consolidated fiscal year
were limited, there continues to be strong demand from corporate clients, affluent individuals investing in rental
apartments, office buildings, and similar properties..
As a result, sales were 76,273 million yen (decrease of 17.6% year on year), and operating profit was 4,594 million yen(decrease of 57.8%).
(Others)
In other segment, there is high investment demand for U.S. real estate for the purpose of asset diversification among theaffluent in Japan, and sales have been progressing smoothly.
As a result, sales were 47,447 million yen (increase of 14.4% year on year), and operating profit was 4,878 million yen(increase of 8.6%).

| 4

Open House Group Co., Ltd. (3288)

(PRESSANCE CORPORATION)PRESSANCE CORPORATION focused on the sale of investment condominiums and condominiums for families in prime
locations in its main sales areas of Kinki and Tokai-Chukyo regions.
As a result, sales were 82,927 million yen (decrease of 3.0% year on year), and operating profit was 15,719 million yen(increase of 2.0%).
(Meldia)
Meldia focused on its main business of single-family homes, it continued to pursue designs tailored to the customers'
lifestyles and offered products that responded to changes in the customers' needs for their homes.
As a result, sales were 63,018 million yen (This is a newly set up segment from the first quarter of the consolidated fiscal
year due to the consolidation of Meldia Co., Ltd. as a subsidiary, year on year comparison is not shown), and operating
profit was 2,386 million yen.
(2) Overview of Financial Condition
As of the end of the second quarter of the consolidated fiscal period, total assets were 1,324,039 million yen, an increase of
125,371 million yen year on year. This is mainly due to an increase of 111,149 million yen in the combined real estate forsale and real estate for sale in progress.
Total liabilities were 805,209 million yen, an increase of 86,957 million yen year on year. This is mainly due to a combined
increase of 94,498 million yen in short-term borrowings, long-term borrowings (including long-term borrowings repayable
within one year), and bonds (including bonds repayable within one year).
Total net assets were 518,829 million yen, an increase of 38,418 million yen year on year. This is mainly due to an increase of
40,808 million yen in retained earnings.
(3) Overview of Future Forecast Information such as Consolidated Performance Forecast
There is no change to the consolidated performance forecast for the fiscal year ending September 2024, which wasannounced on November 14, 2023.

| 5Open House Group Co., Ltd. (3288)

Consolidated Quarterly Financial Statements
1) Consolidated Quarterly Balance Sheets(Millions of yen)
End of FY2023(as of September 30, 2023)
AssetsCurrent assets
Cash and deposits
Trade accounts receivable and contract assets
Real estate for sale
Real estate for sale in process
Operating loans
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Notes payable – trade
Trade accounts payable
Electronically recorded obligations - operating
Short-term borrowings
Current portion of bonds payable
Current portion of long-term borrowings
Income taxes payable
Provisions
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Allowance liabilities
Retirement benefit liability
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Cumulative adjustment of retirement benefits
Foreign currency translation adjustment
Total accumulated other comprehensive income
Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets

End of FY 2024 2Q(as of March 31, 2024)

401,879
4,776
147,857
493,398
49,301
34,105(549)
1,130,769

389,578
15,316
218,472
533,933
62,08822,715(818)
1,241,286

28,4562,690
36,751
67,898
1,198,668

31,951
2,771
48,03082,753
1,324,039

1,631
34,92911,860182,734
10,24238,45722,518
6,034
65,118373,526

1,545
46,264
10,948188,100
11,01258,291
16,415
6,095
51,985
390,658

121
343,582
―
326
230
464
344,725
718,251

4,024
408,208
16
808
345
1,146
414,550805,209

20,11019,767
361,583(18)
401,443

20,131
20,400402,392(8,036)434,88742(23)
515,424
15,406
1,046
67,489518,829
1,324,039

14,36814,411752
63,808480,416
1,198,668| 6Open House Group Co., Ltd. (3288)

2)

Consolidated Quarterly Statements of Income and Consolidated Quarterly Statements of Comprehensive
IncomeConsolidated Quarterly Statements of Income

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Rental income from buildings
Foreign exchange gains/loss
Gain on sale of investment securities
Investment securities gains on sales
Other
Total non-operating income
Non-operating expenses
Interest expenses
Commission expenses
Share of loss of entities accounted for using equity
methodForeign exchange losses
Other
Total non-operating expenses
Ordinary profit
Extraordinary profit
Gain on sale of shares in affiliated companies
Gain on negative goodwill
Total Extraordinary profit
Profit before income taxes
Income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

Six months ended
March 31, 2023
(from October 1, 2022 toMarch 31, 2023)
541,794
436,531
105,263
35,61269,650(Millions of yen)Six months ended
March 31, 2024
(from October 1, 2023 toMarch 31, 2024)
602,756
504,862
97,89442,171
55,723

280
113
104
―
77
144
252
972

695
682
103
400
―
3,518
791
6,192

1,902
263

2,694
490

325

―

―
595
3,086
67,536

7
399
3,592
58,322―――
67,536
19,31948,2173,764
44,452956
12,766
13,72372,046
16,08055,966
4,063
51,902| 7Open House Group Co., Ltd. (3288)

Consolidated Quarterly Statements of Comprehensive Income

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Adjustment amount for retirement benefits
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

Six months ended
March 31, 2023
(from October 1, 2022 toMarch 31, 2023)
48,217(Millions of yen)Six months ended
March 31, 2024
(from October 1, 2023 toMarch 31, 2024)
55,96665(5,597)
―

(85)
1,063
5

0

1

(5,531)
42,685985
56,951

38,92452,897

3,760

4,053

| 8

Open House Group Co., Ltd. (3288)

3)Consolidated Statements of Cash Flows(Millions of yen)Six months ended
March 31, 2024
(from October 1, 2023 toMarch 31, 2024)

Six months ended
March 31, 2023
(from October 1, 2022 toMarch 31, 2023)
Cash flows from operating activities
Profit before income taxes
Depreciation
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in retirement benefit liability
Increase (decrease) in provisions
Interest and dividend income
Foreign exchange losses (gains)Share of loss (profit) of entities accounted for using
equity method
Interest expenses
Loss (gain) on sale of shares of subsidiaries andassociates
Loss (gain) on sale of investment securities
Gain on negative goodwill
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Decrease (increase) in advance payments to suppliers
Increase (decrease) in trade payables
Decrease (increase) in operating loans receivable
Increase (decrease) in contract liabilities
Increase (decrease) in guarantee deposits received
Increase (decrease) in deposits received
Increase/decrease in consumption taxes
payable/consumption taxes refund receivable
Other, net
SubtotalInterest and dividends received
Dividends received from entities accounted for using
equity method
Income taxes paid
Cash flow from operating activities

67,536
693
100
19
(112)
(393)
336

72,046
1,049
(11)
(332)
(384)
(1,378)
(30)

(77)

7

1,902

2,694

―

(956)

(144)
―
(409)
(58,549)
(426)
6,887
(13,713)(2,040)511(8,369)(3,518)(12,766)
337(6,972)
2,023(6,173)(12,787)(1,267)(775)(11,198)

3,302(2,575)(997)(3,943)393(7,289)14,892
1,378(1,860)(2,620)(12,194)(17,604)(15,848)(2,198)| 9Open House Group Co., Ltd. (3288)

Cash flows from investing activities
Net change in time deposits
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from redemption of investment securities
Proceeds from sale of investment securities
Loan advances
Proceeds from collection of loans receivable
Payments of leasehold and guarantee deposits
Proceeds from refund of leasehold and guarantee
deposits
Payments for investments in capital of subsidiaries andassociates
Repayment from investment in capital of subsidiaries andaffiliates
Purchase of shares of subsidiaries and associates
Proceeds from sale of shares of subsidiaries and associates
Cost of subsidiary acquisitions with consolidation scopechanges
Income from subsidiary share sales with consolidation
changes
Other, net
Cash flow from investing activities
Cash flows from financing activities
Proceeds from short-term borrowings(Millions of yen)Six months ended
March 31, 2024
(from October 1, 2023 toMarch 31, 2024)

Six months ended
March 31, 2023
(from October 1, 2022 toMarch 31, 2023)―(4,032)8(166)(1,501)
26
2,092(2,669)1,791(1,929)9,411(2,530)507(298)(31,483)85
35,119
(356)
938
(423)

1,771

1,044

(3,235)(6,456)

623

914

(232)
―

(235)
134

―

(23,842)

―

2,795

(10)
(7,462)(2)(14,677)

126,199

216,037

Repayments of short-term borrowings
Proceeds from long-term borrowings(114,319)
105,974(234,750)
121,309

Repayments of long-term borrowings
Redemption of bonds(85,821)(121)(67,008)
(514)

44

26

―

(2,470)―(0)(8,017)(0)

Proceeds from exercise of employee share options
Expenditure on acquiring subsidiary shares withoutchanging consolidation scope
Purchase of treasury shares
Repayments to non-controlling shareholders
Proceeds from share issuance to non-controllingshareholders
Dividends paid

24

78

(8,072)(11,093)

Dividends paid to non-controlling shareholders

(469)

(567)

Cash Flow from financing activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents

23,43913,028

2,024

255

3,652

(3,591)

Cash and cash equivalents at beginning of period

346,080

378,643

Cash and cash equivalents at end of period

342,428

375,052| 10Open House Group Co., Ltd. (3288)

4)

Notes regarding consolidated quarterly financial statement(Notes regarding on-going concern assumptions)Not applicable(Notes on significant changes in the amount of shareholders’ equity)
The Company acquired treasury stock based on the resolution of the Board of Directors held on November 14, 2023.
As a result, treasury stock increased by 8,017 million yen during the second quarter cumulative period.
(Changes in significant subsidiaries during the period)
From the first quarter of the consolidated accounting period, as a result of acquiring the shares of Meldia Co., Ltd.,the company and its affiliated companies have been included in the scope of consolidation.
(Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements)
Regarding tax expenses, we estimate the effective tax rate, adjusted for tax effects accounting, on the pre-tax net
income for the consolidated fiscal year, including the second quarter consolidated accounting period. We thencalculate the pre-tax quarterly net income by multiplying it by this estimated effective tax rate.
(Changes in accounting policies)
Not applicable| 11Open House Group Co., Ltd. (3288)

(Segment and other information)【Segment information】
I.
Six months ended March 31, 2023 (October 1, 2022 to March 31, 2023)
1.

Information on net sales, profit or loss, and other items by reportable segments（Millions of yen）
Reportable Segment
Single-family
Condominiums
homes related

Net sales
Net sales fromcontracts withcustomers
Other income
Net sales from outside
customers
Intersegment net
sales and transfers
Total
Segment profit (loss)

Property
resaleOthers

PRESSANCECORPORATION

Total

Amount recorded in
Adjustment consolidated quarterly(Note1)statements of income(Note2)

267,651

26,474

77,72639,47983,814495,1456

495,152

28,126―

14,847

1,995

1,671

46,641―

46,641

295,777

26,474

92,573

41,47485,486

541,7876

541,794

―

―

99

294

210

605

(605)

―

295,777
35,177

26,474
4,129

92,673
10,886

41,7694,492

85,697
15,416542,392
70,101

(598)
(450)

541,794
69,650(NOTE)
1. The adjustment amount of segment profit, (450) million yen, includes intersegment elimination of 1,924
million and unallocated corporate expenses of (2,374) million yen. Corporate expenses primarily consistof general administrative expenses not allocated to reporting segments.
2. Segment profit (loss) has been adjusted to operating profit described in consolidated quarterly
statements of income.

| 12Open House Group Co., Ltd. (3288)

II.

Six months ended March 31, 2024 (October 1, 2023 to March 31, 2024)
1. Information on Net sales, profit or loss, and other items by reportable segments（Millions of yen）
Reportable Segment
Single-family
homesrelatedNet sales
Net sales fromcontracts withcustomers
Other income

CondosProperty
resaleOthers

PRESSANCECORPORATION

MeldiaTotal

Adjustment(Note1)

Amount recordedin consolidated
quarterlystatements ofincome (Note2)

303,353

5,545

73,57145,19480,89557,639566,200

9566,20924,179

―

2,702

2,253

2,032

5,378

36,547―36,547

327,533

5,545

76,27347,44782,92763,018602,747

9602,756

433

―

460

40

―

4,666

5,601

(5,601)―

Total

327,967

5,545

76,73447,48882,927

67,685608,348(5,591)

602,756

Segment profit(Loss)

31,407(1,917)

4,594

4,878

15,7192,386

57,069(1,345)55,723

Net sales fromoutsidecustomers
Intersegment
net sales andtransfers(NOTE)
1. The adjustment amount of segment profit, (1,345) million yen, includes intersegment elimination of
1,126 million yen and unallocated corporate expenses of (2,471) million yen. Corporate expenses
primarily consist of general administrative expenses not allocated to reporting segments.
2. Segment profit (loss) has been adjusted to operating profit described in consolidated quarterly
statements of income.
2.

Notes relating to changes in reportable segments etc.

The Group has changed its segment classification from the first quarter of the current consolidated accounting period.
With the addition of Meldia Co., Ltd. to a consolidated subsidiary in October 2023, we have added "Meldia" as a new
segment. As a result of the above changes, the reportable segments of our Group has changed to six segments: ``Singlefamily homes related,'' ``Condominiums,'' ``Property resale,'' ``Others,'' ``PRESSANCE CORPORATION,'' and ``Meldia''.

(Significant gain on negative goodwill)In the Meldia segment, we recognized a gain on negative goodwill due to acquiring the shares of Sanei Architecture
Planning Co., Ltd. and making it a consolidated subsidiary.
The amount of gain on negative goodwill recorded due to this event was 12,766 million yen. Please note that the gain
on negative goodwill is an extraordinary profit and is therefore not included in the segment profit above.

| 13

Open House Group Co., Ltd. (3288)

(Significant subsequent events)(Acquisition of Treasury Share)
The Company resolved on matters relating to the acquisition of treasury shares pursuant to the provisions ofArticle 156 of the Companies Act, as interpreted and applied under Article 165, paragraph 3, of the same Act, at theBoard of Directors meeting held on May 15, 2024.
1.

Reasons for Acquisition of Treasury Share
To implement a flexible capital policy and enhance shareholder value.

2.

Details of Acquisition(1) Type of shares to be acquired:
Common shares(2) Method of acquisition:
Open market purchases(3) Total number of shares to be acquired:2,500,000 shares (maximum)(4) Total amount of the acquisition cost:
10,000 million yen (maximum)(5) Acquisition period:
From May 16, 2024, to September 30, 2024 (planned)| 14Open House Group Co., Ltd. (3288)