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 First Quarter Ended September 30, 2017〔Based on Japanese GAAP〕
February 14, 2017
Company name:
Stock exchange listings:
Code Number:
URL:
Representative:
Scheduled date of quarterly securities report filing:
Supplementary materials for quarterly financial results:
Quarterly results briefing meeting :Open House Co., Ltd.
Tokyo Stock Exchange, First section3288
http://openhouse-group.com/irMasaaki Arai, President and CEO
February 14, 2017
Yes
No
(Million yen, rounded down)

1.

Consolidated Financial Results for the First Quarter Ended September 30, 2017
（October 1, 2016 to December 31, 2016）(1) Consolidated operating results (Year-to-date)
Revenue

Operating income

Million yen

FY 2017 1Q
FY 2016 1Q(Note) Comprehensive income:(% figures indicate year-on-year change)%

Million yen

Net assets

Million yen

210,550
204,868
As of December 31, 2016
As of September 30, 2016

Million yen

%

6.9
230.7

Equity ratio

Million yen%

66,85264,084¥66,460 million yen¥63,708 million yen

31.6
31.1

Dividends
Annual dividends per share (Yen)
2Q-end3Q-endYear-end
0.00
―
50.00

1Q-end――FY 2016
FY 2017
FY 2017 (Forecast)(Note) Revision of the latest dividend forecast: No

3.

%

8,779
5.4
5,738
8,331
227.3
5,370
¥ 5,812 million (8.2%)¥ 5,370 million (231.1%)

Yen
101.6794.57(2) Consolidated Financial Position
Total assets
December 31, 2016
September 30, 2016
(Reference) Shareholders’ equity:

Million yen

Diluted EPS
Yen
102.1994.91

FY 2017 1QFY 2016 1Q

2.

%

70,135
14.9
8,652
1.7
61,049
110.3
8,509
211.7
From October 1, 2016 to December 31, 2016
From October 1, 2015 to December 31, 2015
EPS

Profit attributable toowners of parent

Ordinary income―30.0030.00

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

%

Total
50.00
60.00

(% figures indicate year-on-year change)

Operating income

Ordinary income

Profit attributable toowners of parent

Million yen

Million yen

Million yen%

2Q (Cumulative)
138,000 17.8
16,70010.2Full year
300,000 21.4
35,00011.7(Note) Revision of the latest consolidated results forecast: No

16,20034,000%10.2
16.6

10,50022,000%

11.4
17.6

Open House Co., Ltd. (3288)

EPS
Yen

186.97391.761|

*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) 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)
December 31, 2016: 57,421,200 shares
September 30, 2016:ⅱ) Treasury stock at period-end
December 31, 2016:
1,318,536 shares

September 30, 2016:

57,400,000 shares
1,215,836 sharesⅲ) Average number of shares issued (cumulative consolidated quarterly periods)
December 31, 2016: 56,157,363 shares
December 31, 2015: 56,586,686 shares* Notes regarding forward-looking statements:
Consolidated business forecasts are based on assumptions from information available to management at the time of disclosureand 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 FY 2016
(September 30, 2016)

End of FY 2017 1Q(December 31, 2016)

AssetsCurrent assets
Cash and cash equivalents

67,50868,778

Accounts receivable, trade

577

538

Real estate for sale

34,43434,068

Real estate for sale in process

83,11287,147

Operating loans

5,708

5,720

Other

5,602

6,096

Allowance for doubtful accounts

（151）

（136）

Total current assets

196,792

202,212

Tangible fixed assets

2,651

2,905

Intangible fixed assets

1,389

1,375

Investments and other assets

3,972

3,996

Total fixed assets

8,013

8,277

Fixed assets

Deferred assets

6259204,868

210,550

Accounts payable

8,874

9,088

Short-term loans payable

34,937

37,215582

562

Current portion of bonds

8,458

9,353

Income taxes payable

6,594

3,032

Total assets
Liabilities
Current liabilities

Current portion of long-term loans payable

Reserves

1,745

1,133

Other

13,096

12,527

Total current liabilities

74,28872,913

Bonds payable

2,555

2,425

Long-term loans payable

Long-term liabilities
63,792

68,206

Net defined benefit liability

11

11

Asset retirement obligations

8181

Other

55

59

66,49570,784

140,784

143,697

Total long-term liabilities
Total liabilities

Open House Co., Ltd. (3288)

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(Million yen)

End of FY 2016
(September 30, 2016)

End of FY 2017 1Q(December 31, 2016)

Net assets
Shareholders’ equity
Capital stocks

3,982

3,998

Capital surplus

5,883

5,900

Retained earnings

55,72358,652

Treasury stock（1,852）（2,138）

Total shareholders’ equity

63,736

66,41458

Foreign currency translation adjustment

（33）

37

Accumulated other comprehensive income

（28）

46375

392

Other comprehensive income
Net unrealized holding gains/losses on securities

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

64,084

66,852

204,868

210,550

Open House Co., Ltd. (3288)

4|2）Consolidated Quarterly Statements of Income and Consolidated Quarterly Statements of Comprehensive Income
Consolidated Quarterly Statements of Income(Million yen)

1Q ended September 30, 2016
(From October 1, 2015
to December 31, 2015)

1Q ended September 30, 2017
(From October 1, 2016
to December 31, 2016)

Revenue

61,04970,135

Cost of revenue

48,89357,406Gross profit

12,156

12,728Selling, general and administrative expenses

3,646

4,076

Operating income

8,509

8,652

Interest income

01

Dividends income

12

Foreign exchange gain

5316

Other

56

70

Total non-operating income

63390

205

212

Non-operating income

Non-operating expenses
Interest expenses
Commission fee

58

Other

31

41

Total non-operating expenses

241

262

Ordinary income

8,331

8,779

Income before income taxes and minority interests

8,331

8,779

Income taxes-current

2,960

3,041

Income before minority interests

5,370

5,738

Profit attributable to owners of parent

5,370

5,738

Open House Co., Ltd. (3288)

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Consolidated Quarterly Statements of Comprehensive Income(Million yen)

1Q ended September 30, 2016
(From October 1, 2015
to December 31, 2015)

1Q ended September 30, 2017
(From October 1, 2016
to December 31, 2016)

5,370

5,738

Valuation difference on available-for-sale securities

03

Foreign currency translation adjustment

(0)

70

Net income before minority interests
Other comprehensive income

Total other comprehensive income
Comprehensive income

(0)

74

5,370

5,812

5,370

5,812

(Breakdown)Comprehensive income attributable to owners ofparentOpen House Co., Ltd. (3288)

6|3） Notes to Consolidated Quarterly Financial Statements(Notes on Going Concern Assumptions)Not applicable(Notes on Significant Changes in the Amount of Shareholders’ Equity)
Not applicable(Segment and Other Information)
Ⅰ FY2016 1Q (October 1, 2015 to December 31, 2015)
Information relating to the amounts of revenue, income and loss by reportable segment（Million yen）
Reportable Segment
Open
Condomi Property
House
nium
resalesArchitect

Amount Recorded onAdjustments
Consolidated(Note 1)
Quarterly Statementsof Income (Note 2)

Brokerage

Singlefamily
homesRevenue from
Outside Customers
Intersegment
revenue and transfers

966

30,209

7,348

1,054

21,366

103

61,049

953

―

997

8―

151,975（1,975）

―

Total

1,919

30,209

8,346

1,063

21,366

11963,025（1,975）61,049Segment Income (Loss)

705

3,782

284 （171）

3,911

33

8,545

（36）

8,509

OthersTotalRevenue―

61,049(Note)
１. Adjustment of -¥36 million for segment income includes intersegment elimination of ¥31 million and corporate
expenses of -¥67million that is not distributed to the reportable segments. Corporate expenses are primarily generaland 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.
Ⅱ FY2017 1Q(October 1, 2016 to December 31, 2016)

ⅰ Information relating to the amounts of revenue, income and loss by reportable segment（Million yen）
Reportable Segment
Open
Condomi PropertyHouseniumresales
Architect

Adjustments(Note 1)

Amount Recorded on
Consolidated
Quarterly Statementsof Income (Note 2)

Brokerage

Singlefamily
homes

1,149

38,215

7,771

1,570

21,333

95

70,135－70,135

1,234－

1,322－

313

2,573（2,573）

－

Total

2,383

38,215

9,093

1,570

21,336108

72,708（2,573）70,135

Segment Income (Loss)

854

5,041

494（184）

2,442

28,65018,652OthersTotal

Revenue
Revenue from
Outside Customers
Intersegment
revenue and transfers(Note)
１. Adjustment of ¥1 million for segment income includes intersegment elimination of ¥72 million and corporate expensesof -¥70 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 has been adjusted to operating income described in consolidated quarterly statements of income.

ⅱ Changes in the name of reportable segment
The Group changed the name of “Asakawa Home” reportable segment to “Open House Architect” from the firstquarter of the current fiscal year. This change had no effect on profit and loss for the current fiscal year.
Segment information for the first quarter of the previous fiscal year on a consolidated basis was prepared based on thesegment category applied for the same period of the fiscal year under review.

Open House Co., Ltd. (3288)

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