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, 2015 〔Based on Japanese GAAP〕
May 15, 2015
Open House Co., Ltd.
Tokyo Stock Exchange, First section
3288
http://openhouse-group.com/ir
Masaaki Arai, President and CEO
May 15, 2015
Yes
Yes （for institutional investors and analysts, in Japanese)

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 :(Million yen, rounded down)

1.

Consolidated Financial Results for the Second Quarter Ended September 30, 2015
（October 1, 2014 to March 31, 2015）(1) Consolidated operating results (Year-to-date)
Revenue
Operating income
Million yen%

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

Ordinary income%

FY 2015 2Q
78,588
42.9
8,557
13.2
FY 2014 2Q
54,993
54.2
7,557
224.7
(Note) Comprehensive income: From October 1, 2014 to March 31, 2015
From October 1, 2013 to March 31, 2014
EPS

Million yen

Net income%

8,134
15.0
7,072
259.8
¥ 5,082 million (20.9%)¥ 4,203 million (237.3%)

Million yen

5,084
4,203%

20.9
230.2

Diluted EPS
Yen
177.70150.00Yen
FY 2015 2Q―FY 2014 2Q
146.52(Note)
Though consolidated financial statements for the second quarter ended September 30, 2013 were not prepared basedon the Financial Instruments and Exchange Act, the percentage change from the same period for the second quarter
ended September 30, 2014 are presented for reference.
(2) Consolidated Financial Position
Total assets
March 31, 2015
September 30, 2014
(Reference) Shareholders’ equity:2.

Net assets

Million yen

141,007
100,577
As of March 31, 2015:
As of September 30, 2014:

Equity ratio

Million yen%

39,96537,047¥39,909 million yen¥37,047 million yen

28.3
36.8

Dividends
Annual dividends per share (Yen)
1Q-endFY 2014
FY 2015

2Q-end0.00――

FY 2015 (Forecast)(Note) Revision of the latest dividend forecast:

3Q-endYear-end

Total―

40.00

40.00

―

30.00

30.00

0.00
Yes

As a 2-for-1 stock split of common stock of the Company is scheduled with the effective date of July 1, 2015, the amounts
stated for annual dividends per share for FY2015 are calculated after taking the stock split into consideration.
Annual dividend per share for FY2015, calculated without considering the stock split, is ¥60.
Breakdown for dividends of FY2014:
Breakdown for dividends of FY2015 (Forecast):

Common dividend: ¥35.00 and commemorative dividend: ¥5.00
Common dividend: ¥30.00 (Pre-stock-split basis: ¥60.00)
Open House Co., Ltd. (3288)

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3.

Forecast of Consolidated Operating Results for FY2015(October 1, 2014 to September 30, 2015)(% figures indicate year-on-year change)

Revenue
Full year

Million yen%

Operating income

Ordinary income

Million yen

Million yen%

Net income%Million yen

EPS%

Yen

175,000 56.0
20,00045.5
19,00047.5
12,00054.6
209.69(Note) Revision of the latest consolidated results forecast: Yes
As a 2-for-1 stock split of common stock of the Company is scheduled with the effective date of July 1, 2015, forecast
information about EPS for FY2015 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):YesNew:
1 (Asakawa Home Co., Ltd.)
Excluded: 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)
March 31, 2015: 28,700,000 shares
September 30, 2014: 28,700,000 sharesⅱ) Treasury stock at period-end
March 31, 2015:

406,500 shares

September 30, 2014:― sharesⅲ) Average number of shares issued (cumulative consolidated quarterly periods)
March 31, 2015:

28,613,441 shares

March 31, 2014:

28,025,000 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 2014
(September 30, 2014)
AssetsCurrent assets
Cash and cash equivalents
Accounts receivable, trade
Real estate for sale
Real estate for sale in process
Operating loans
OtherAllowance for doubtful accounts
Total current assetsFixed assets
Tangible fixed assets
Intangible fixed assets
Investments and other assets
Total fixed assets
Deferred assets

End of FY 2015 2Q(March 31, 2015)

26,426256
9,541
53,826
5,076
3,155

37,204510
14,44572,995
5,096
4,808

△86

△ 181

98,196

134,878

720
161
1,476

2,874
1,503
1,670

2,358

6,048

23

81

100,577

141,007

3,640
24,721
7,097
440
3,579
939
5,850

7,626
31,146
7,875
682
3,065
1,313
9,219

Total current liabilities

46,26960,928Long-term liabilities
Bonds payable
Long-term loans payable
Net defined benefit liability

730
16,41810

2,988
36,716
11

Total assets
Liabilities
Current liabilities
Accounts payable
Short-term loans payable
Current portion of long-term loans payable
Current portion of bonds
Income taxes payable
Reserves
Other

Asset retirement obligations

―99

Other

101

298

Total long-term liabilities
Total liabilities

17,261

40,11363,530101,042

Open House Co., Ltd. (3288)

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(Million yen)

End of FY 2014
(September 30, 2014)

End of FY 2015 2Q(March 31, 2015)

Net assets
Shareholders’ equity
Capital stocks

3,982

3,982

Capital surplus

5,883

5,883

Retained earnings

27,222

31,158―△1,07137,08839,9531115

Foreign currency translation adjustment△53△58

Accumulated other comprehensive income△41△43―56

37,04739,965100,577

141,007

Treasury stock
Total shareholders’ equity
Other comprehensive income
Net unrealized holding gains/losses on securities

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

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)

2Q ended September 30, 2014
(From October 1, 2013
to March 31, 2014)

2Q ended September 30, 2015
(From October 1, 2014
to March 31, 2015)

Revenue

54,99378,588

Cost of revenue

44,05364,758Gross profit

10,94013,829Selling, general and administrative expenses

3,382

5,271

Operating income

7,557

8,557

46

Dividends income
Foreign exchange gain

050

2105

Other2649

Total non-operating income

81163

410
86437
107

Non-operating income
Interest income

Non-operating expensesInterest expenses
Commission
Other6942

Total non-operating expenses

566

587

Ordinary income

7,072

8,134

Income before income taxes and minority interests

7,072

8,134

Income taxes-current

2,868

3,049

Income before minority interests

4,203

5,084

Net income

4,203

5,084

Open House Co., Ltd. (3288)

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Consolidated Quarterly Statements of Comprehensive Income(Million yen)

2Q ended September 30, 2014
(From October 1, 2013
to March 31, 2014)

2Q ended September 30, 2015
(From October 1, 2014
to March 31, 2015)

4,203

5,084

Valuation difference on available-for-sale securities
Foreign currency translation adjustment

1△23△5Total other comprehensive income△0△24,203

5,082

4,203

5,082

Net income before minority interests
Other comprehensive income

Comprehensive income(Breakdown)Comprehensive income attributable toshareholders’ of the parent

Open House Co., Ltd. (3288)

6|3）Consolidated Quarterly Statements of Cash Flows（Millions of yen）

Cash flows from operating activities
Income before income taxes and minority interests
Depreciation and amortization
Stock based compensation expense
Increase (Decrease) in allowance for doubtful accounts
Increase (decrease) in net defined benefit liability
Increase (Decrease) in reserves
Interest and dividends income
Foreign exchange gain or loss
Interest expense
Decrease (Increase) in notes and accounts receivable-trade
Decrease (Increase) in inventories
Increase (Decrease) in notes and accounts payable-trade
Increase (Decrease) in loans receivable

2Q ended September 30,
2014 (From October 1,
2013 to March 31, 2014)

2Q ended September 30,
2015 (From October 1,
2014 to March 31, 2015)

7,072
64
―0―978,134
13556△10292△4△9△4241080△67437
210△13,300
140△15,798
42△28△20Other△243△710

Subtotal△5,752△7,297

Interest and dividends received
Interest paid

28△397△437

Income taxes paid

△2,783△3,731

Net cash provided by (used in) operating activities△8,931△11,457

Cash flows from investing activities
Decrease in time deposits
Increase in time deposits
Purchase of tangible fixed assets△2,000150△122△75
3,655△210

Purchase of intangible fixed assets△13△42

Purchase of investment securities△101――△100―△1,571△8527△6△714070△2,1501,992

25,03529,846△17,352
5,974△25,504
32,158△7,220294△14,498
2,654△1,240△220―△1,078△700△1,148Purchase of treasury stock of subsidiaries in consolidation
Payments for purchase of investments in subsidiaries
resulting in change in scope of consolidation
Payments for lease and guarantee deposits
Proceeds from collection of lease and guarantee deposits
Other
Net cash provided by (used in) investing activities
Cash flows from financing activities
Proceeds from short-term loans payable
Repayment of short-term loans payableProceeds from long-term loans payable
Repayment of long-term loans payable
Proceeds from issuance of bonds
Redemption of bonds
Purchase of treasury stock
Cash dividends paid
Other54△194,844
44

22,19053

Net increase (decrease) in cash and cash equivalents△6,193

12,778Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

25,85019,65624,426
37,204

Net cash provided by (used in) financing activities
Effect of exchange rate changes 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(Notes on Significant Changes in the Amount of Shareholders’ Equity)
Not applicable(Segment and Other Information)
Ⅰ FY2014 2Q(October 1, 2013 to March 31, 2014)
Information relating to the amounts of revenue, income and loss by reportable segment

Reportable Segment
Real Estate Real Estate Real Estate
Brokerage
Sales
Financing
Revenue
Revenue from Outside
Customers
Intersegment revenue andtransfers
Total
Segment Income (Loss)

Total（Million yen）
Amount Recorded onAdjustments Consolidated Quarterly(Note 1)
Statements of Income(Note 2)

1,373

53,429190

54,993－54,993

1,198－－

1,198△ 1,198－

2,572

53,429190

56,192△ 1,198

54,993840

6,70576

7,622△ 647,557(NOTE)
１.

2.

Adjustment of -¥64 million for segment income includes intersegment elimination of ¥18 million and corporate
expenses of -¥83 million that is not distributed to the reportable segments. Corporate expenses are primarily generaland administrative expenses that do not belong to the reportable segments.
Segment income has been adjusted to operating income described in consolidated quarterly statements of income.
Ⅱ FY2015 2Q
1.

( October 1, 2014 to March 31, 2015)

Information relating to the amounts of revenue, income and loss by reportable segment

Reportable Segment
Real Estate Real Estate Real Estate
Brokerage
Sales
Financing
Revenue
Revenue from Outside
Customers
Intersegment revenue andtransfers
Total
Segment Income (Loss)

Total（Million yen）
Amount Recorded on
Adjustments Consolidated Quarterly(Note 1)
Statements of Income(Note 2)

1,756

76,640191

78,588－78,588

1,639－－

1,639△ 1,639－3,395

76,640191

80,227△ 1,63978,588

1,171

7,365

948,631△ 738,557(NOTE)
１. Adjustment of -¥73 million for segment income includes intersegment elimination of ¥28 million and corporate
expenses of -¥101 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.
2.

Information regarding assets by reporting segment

In the second quarter ended September 30, 2015, the assets of the Real Estate Sales Segment increased by ¥39,341
million from the previous fiscal year, due to acquisition of the shares of Asakawa Home Co,.Ltd..

Open House Co., Ltd. (3288)

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