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.

(Correction) Partial Correction on July 31, 2020

Summary of Consolidated Financial Results
for the Fiscal Year Ended September 30, 2018 〔Based on Japanese GAAP〕
November 14, 2018
Open House Co., Ltd.
Tokyo Stock Exchange, First section
3288
https://openhouse-group.co.jp/ir
Masaaki Arai, President and CEO
December 19, 2018
December 20, 2018
December 20, 2018
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, 2018
(October 1, 2017 to September 30, 2018)(1) Consolidated operating results(% figures indicate year-on-year change)

Revenue
Million yen

Operating income%

Million yen%

Million yen

FY 2018
390,735
28.3
47,30425.8
FY 2017304,651
23.2
37,61720.1(Note) Comprehensive income: From October 1, 2017 to September 30, 2018
From October 1, 2016 to September 30, 2017
EPS

Diluted EPS
Yen

September 30, 2018
September 30, 2017
(Reference) Shareholders’ equity:

Million yen

ROE%393,637
256,736
As of September 30, 2018:
As of September 30, 2017:(3) Consolidated Cash Flows
Cash flows fromoperating activities
FY 2018
FY 2017

Million yen(10,017)(799)

Million yen

Million yen(12,582)(1,337)

%

28.3
32.5

Operating income
Margin
%

%

14.2
15.7
¥ － million¥ － million

Equity ratio

113,486
83,379¥ 106,156 million¥ 82,970 million

Cash flows frominvesting activities

Million yen

ROA

Yen

Net assets%

46,05227.5
31,80636,131
23.9
24,797¥ 32,096 million (28.9 %)¥ 24,894 million (32.9 %)FY 2018570.17565.7733.6
FY 2017443.41440.76
33.8(Reference) Equity in net income of affiliated companies: As of September 30, 2018:
As of September 30, 2017:(2) Consolidated Financial Position
Total assets

Profit attributable toowners of parent

Ordinary income

12.1
12.3

Net assets per share
%

27.0
32.3

Cash flows fromfinancing activities
Million yen

50,69625,181Yen

1,920.43
1,487.19

Cash and cash
equivalents at FY end
Million yen

118,978
90,910Open House Co., Ltd. (3288)

1|

2.

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

Total

Yen
―
―
―

Yen
30.00
46.00
60.00

Yen
―
―
―

Yen
35.00
52.00
61.00

Yen
65.00
98.00
121.00FY 2017
FY 2018
FY 2019 (Forecast)3.

Dividend on
Total dividends Payout ratio
equity(Consolidated)(Annual)(Consolidated)
Million yen
3,625
5,442

%
5.0
5.8

18.5

Forecast of Consolidated Operating Results for FY2019(October 1, 2018 to September 30, 2019)
Revenue

%
14.7
17.2

(% figures indicate year-on-year change)

Operating income

Ordinary income

Profit attributable toowners of parent

EPS

Million yen%

Million yen%

Million yen%

Million yen%

Yen

225,000
510,000

32.4
30.5

22,00054,0004.5
14.2

20,50051,5001.6
11.8

15,00037,000

7.0
16.3

264.85653.30(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, 2018:57,512,500 shares

September 30, 2017:57,463,600 shares

September 30, 2017:

1,673,194 shares

September 30, 2017:55,923,878 sharesⅱ) Treasury stock at period-end
September 30, 2018:

2,235,080 sharesⅲ) Average number of shares issued
September 30, 2018:

55,785,235 sharesOpen House Co., Ltd. (3288)

2|

[Reference] Non-Consolidated Financial Results for the fiscal year ended September 30, 2018
(October 1, 2017 to September 30, 2018)(1) Non-Consolidated Operating Results
Operating revenue
FY 2018
FY 2017

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

Operating income%

9,762
10,281

(5.0)
20.6

EPS
FY 2018
FY 2017

%

346
2,691

(87.1)
3.8

Million yen

Net income%

15,361
8,099

89.7
41.6

Million yen%

15,209
7,375

106.2
46.3

Diluted EPS
Yen

Yen

272.64131.88(2) Non-Consolidated Financial Position
Total assets
September 30, 2018
September 30, 2017
(Reference) Shareholders’ equity:

Million yen

Ordinary income

Million yen

270.54131.09Net assets

88,82561,290
As of September 30, 2018:
As of September 30, 2017:

Million yen

26,22918,429¥ 25,841 million¥ 18,021 million

Equity ratio

Net assets per share
%

29.1
29.4

Yen

467.49323.02*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 Statements1）Consolidated Balance Sheets(Million yen)
FY 2017(as of September 30, 2017)

FY 2018(as of September 30, 2018)

Cash and cash equivalents

90,910119,053

Accounts receivable, trade

925

1,291

AssetsCurrent assets

Real estate for sale*2

Real estate for sale in process*2

Operating loans

19,542
125,351
6,056*2

Deferred tax assets
Other

186,033*2

14,244

*2

959

1,926

4,861

10,127

Allowance for doubtful accounts
Total current assets

47,238

*2

(178)

(172)

248,429

379,744

Fixed asset
Tangible fixed assets
Buildings and structures
Accumulated depreciation

3,119

*2

4,154

(1,108)*3(1,390)*2*3

Buildings and structures, net

2,010

Land

*2

830

Other

*3

2,764
*2

789

2,403
*3

951

Accumulated depreciation

(516)

(644)

Other, net

273

306

3,113

5,474

1,299

3,515

Total tangible fixed assets
Intangible fixed assets
Investments and other assets
Investment securities*1

Deferred tax assets
Other

1,643

*1

3
*1

2,194

1,435
168

*1

3,276

Allowance for doubtful accounts

―

(18)

Total investments and other assets

3,841

4,861

8,255

13,852

51

40

Total fixed assets
Deferred assets
Bond issuance cost
Total deferred assets
Total assets

51

40

256,736

393,637

Open House Co., Ltd. (3288)

4|

(Million yen)

FY 2017(as of September 30, 2017)

FY 2018(as of September 30, 2018)

―

4,557

Liabilities
Current liabilities
Notes payable-trade
Accounts payable
Short-term loans payable

10,652
41,854*2, *4Current portion of bonds

14,803*2, *4562

Current portion of long-term loans payable

*2

8,696

111,583532*2

18,756

Income taxes payable

5,205

9,713

Advances received

7,535

10,556

Guarantee deposits received

1,151

1,280

Provision for bonuses

1,467

1,962

Provision for warranties for completed construction

645

765

Deferred tax liabilities

―

262

Other

4,841

7,893

Total current liabilities

82,613

182,668

Long-term liabilities
Bonds payable
Long-term loans payable

1,993*2, *4, *5

88,641

1,461*2, *4, *5

95,619Deferred tax liabilities

17

6

Net defined benefit liability

12

300

Asset retirement obligations

79

92

Other

―

0

90,743

97,482

173,357

280,150

4,032

4,094

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

5,934

4,481

Retained earnings

76,038103,324

Treasury stock(3,102)(6,102)

Total shareholders’ equity

82,902

105,798

Other comprehensive income
Net unrealized holding gains/losses on securities

8

15

Foreign currency translation adjustment

60

342

Accumulated other comprehensive income

68

358

Subscription rights to shares

408

388

Non-controlling interests

―

6,941

83,379113,486

256,736

393,637

Total net assets
Total liabilities and net assets

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

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

Gross profit
Selling, general and administrative expenses
Operating income

FY2018(From October 1, 2017
to September 30, 2018)
390,735

248,532*2

56,118*1

320,483
70,251

18,501*1

22,946

37,61747,3041235

Non-operating income
Interest income
Dividends income

314House rent income

64

123

Foreign exchange gain

256

－

Other

108

90

Total non-operating income

444

264

Interest expenses

892

1,147

Commission fee

682

77

Other

354

291

1,929

1,516

36,13146,052

Other

－

595

Total extraordinary losses－

595

Income before income taxes

36,13145,456

Income taxes-current

10,807

14,501Non-operating expenses

Total non-operating expenses
Ordinary income
Extraordinary losses

Income taxes-deferred

526

(851)

Total income taxes

11,334

13,649Net income

24,79731,806

Profit attributable to owners of parent

24,79731,806

Open House Co., Ltd. (3288)

6|

Consolidated Statements of Comprehensive Income(Million yen)

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

FY2018(From October 1, 2017
to September 30, 2018)

24,79731,8063

7Foreign currency translation adjustment

93

282

Total other comprehensive income

96

289

Net income
Other comprehensive income
Valuation difference on available-for-sale securities

Comprehensive income(Profit attributable to)Comprehensive income attributable toshareholders’ of the parent*1, *2

24,894*1, *2

24,89432,09632,096

Open House Co., Ltd. (3288)

7|3）Consolidated Statements of Changes in Shareholders' Equity
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

50

50

Treasury stock

55,723

Total shareholders’equity(1,852)

63,736

Change of items during the period
Issuance of new shares (Exerciseof subscription rights to shares)

100

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

Profit attributable to owners ofparent24,797

24,797Purchase of treasury stock(1,250)(1,250)Change in treasury shares ofparent arising from transactions
with non-controlling shareholders
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

Foreigncurrencytranslation
adjustment
(33)

Total
accumulated
othercomprehensive
income(28)

Subscription
Non-controllingrights tointerests
sharesTotal net
assets375

64,084

Change of items during the period
Issuance of new shares (Exerciseof subscription rights to shares)

100

Dividends from surplus(4,482)

Profit attributable to owners ofparent24,797Purchase of treasury stock(1,250)Change in treasury shares ofparent arising from transactions
with non-controlling shareholders
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

―

Open House Co., Ltd. (3288)

83,3798|

FY2018 (From October 1, 2017 to September 30, 2018)(Million yen)
Shareholders’ equity
Capital stock
Balance at October 1, 2017

Capital surplus

Retained earnings

Treasury stock

76,038

Total shareholders’equity

4,032

5,934

(3,102)82,902

32

32

65

29

29

58

Change of items during the period
Issuance of new shares (Exerciseof subscription rights to shares)
Issuance of new shares (Issuanceof restricted stock)
Dividends from surplus(4,520)(4,520)

Profit attributable to owners ofparent31,80631,806

Purchase of treasury stock(3,000)Change in treasury shares ofparent arising from transactions
with non-controlling shareholders(3,000)(1,514)(1,514)

Net changes of items other thanshareholders’ equity
Total changes of items during theperiod62(1,452)

27,286(3,000)22,895

Balance at September 30, 2018

4,094

4,481

103,324(6,102)

105,798

Accumulated other comprehensive income

Balance at October 1, 2017

Valuationdifference on
available-for-salesecurities

Foreigncurrencytranslation
adjustment

8

60

Total
Subscription Non-controlling
accumulated
rights to sharesinterests
othercomprehensive
income68408

Total net
assets―83,379Change of items during the period
Issuance of new shares (Exerciseof subscription rights to shares)
Issuance of new shares (Issuanceof restricted stock)

65
58

Dividends from surplus(4,520)

Profit attributable to owners ofparent31,806

Purchase of treasury stock(3,000)Change in treasury shares ofparent arising from transactions
with non-controlling shareholders(1,514)

Net changes of items other thanshareholders’ equity

7

282

289

(20)

6,941

7,211

Total changes of items during theperiod

7

282

289

(20)

6,941

30,107

Balance at September 30, 2018

15

342

358

388

6,941

113,486

Open House Co., Ltd. (3288)

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

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

FY2018(From October 1, 2017
to September 30, 2018)

Income before income taxes

36,13145,456

Depreciation and amortization

372

418

Share-based compensation expenses

62

13

Increase (Decrease) in provision for bonuses

332

297

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

26

(6)

35

55

1

1

Interest and dividends income

(15)

(50)

Foreign exchange loss (gain)

(174)

90

Interest expense

892

1,147

Commission for syndicate loan

555―

Cash flows from operating activities

Amortization of bond issuance cost
Decrease (Increase) in notes and accounts receivable-trade
Decrease (Increase) in inventories

11

10

(340)

(392)

(27,302)(40,288)

Increase (Decrease) in notes and accounts payable-trade

1,778

1,928

Decrease (Increase) in operating loans(348)(8,188)

Increase (Decrease) in advances received

210

2,545

Increase (Decrease) in guarantee deposits received

(832)

23

Increase (Decrease) in deposits received

1,019

1,222

Other

399

(574)

Subtotal

12,815

3,711Interest and dividend income received

15

50

(875)

(1,154)(12,754)(12,625)(799)(10,017)

Payments into time deposits(1,446)(11,874)

Proceeds from withdrawal of time deposits

1,446

11,874Purchase of tangible fixed assets(807)(1,028)Purchase of intangible fixed assets

(169)

(40)

Purchase of investment securities

－

(790)

Proceeds from sales and redemption of investment securities

－

1,001

Payments for investments in capital

－

(100)

Collection of investments in capital－

386

Payments of loans receivable from subsidiaries and associates
Payments for investments in capital of subsidiaries andassociates
Purchase of shares of subsidiaries resulting in change in scopeof consolidation
Payments for lease and guarantee deposits

－

(110)

－

(330)

Interest expenses paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities

Proceeds from collection of lease and guarantee deposits
Other
Net cash provided by (used in) investing activities－*2(11,178)

(426)

(505)

26
38

49
62

(1,337)(12,582)

Open House Co., Ltd. (3288)

10 |（Millions of yen）

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

FY2018(From October 1, 2017
to September 30, 2018)

Increase in short-term loans payable

97,968152,161

Decrease in short-term loans payable(91,051)(109,902)

Proceeds from long-term loans payable

87,08892,816

Repayment of long-term loans payable(62,007)(76,327)

Cash flows from financing activities

Commission for syndicate loan paid

(555)

―

Redemption of bonds

(582)

(562)

Proceeds from exercise of share options

70

45

Purchase of treasury stock(1,256)(3,015)

Cash dividend paid

(4,482)(4,520)(10)―

25,181

50,696Other
Net cash provided by (used in) financing activities
Effect of exchange rate changes on cash and cash equivalents

356

(27)

Net increase (decrease) in cash and cash equivalents

23,401

28,068Cash and cash equivalents at beginning of period

67,50890,910Cash and cash equivalents at end of period*190,910*1

118,978

Open House Co., Ltd. (3288)

11 |(Notes to Consolidated Balance Sheets)*1
The following items are related to unconsolidated subsidiaries and affiliates.
(Million yen)

FY 2017(as of September 30, 2017)

FY 2018(as of September 30, 2018)

Other in Investments and other assets
Investment securities(Stocks)

100

110

Other in Investments and other assets(Investments in capital)

182

498

*2

Pledged assets and secured liabilities

Pledged assets are as follows.
(Million yen)

FY 2017(as of September 30, 2017)
Cash and deposits

FY 2018(as of September 30, 2018)

Real estate for sale―
11,69075
30,868

Real estate for sale in process

87,908

123,550

Operating loans

3,337

3,519

Buildings and structures

165

372

Land

242

866

103,344

159,253

Total
Secured liabilities are as follows.

(Million yen)

FY 2017(as of September 30, 2017)

FY 2018(as of September 30, 2018)

Short-term loans payable

33,52076,822Current portion of long-term loans payable

7,474

16,612Long-term loans payable

49,72044,62090,715138,056

Total*3

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

FY 2017(as of September 30, 2017)
Accumulated impairment loss

FY 2018(as of September 30, 2018)

111

201

*4
4 consolidated subsidiaries (Open House Development Co., Ltd. and IB Net Co., Ltd., Open House Architect Co., Ltd.,
Hawk One Corporation) have current account overdraft and commitment line agreements, the balance of unexecuted loans
as of the end of the fiscal year under review, based on these agreements, is as follows.
(Million yen)

FY 2017(as of September 30, 2017)

FY 2018(as of September 30, 2018)

Total loan commitment

67,500101,056

Outstanding loans

40,12273,693

Balance of unexecuted loans

27,37727,363*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)
FY2018(From October 1, 2017
to September 30, 2018)

FY2017(From October 1, 2016
to September 30, 2017)
Directors' compensations
Salaries

535

557

2,847

3,484

Provision for bonuses

385

512

Provision of allowance for doubtful accounts

30－

Retirement benefit expenses

52

78

Advertising expenses

1,771

1,868

Rents

2,222

2,553

Taxes and dues

2,184

2,782

Sales commission

2,434

3,170

*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)
FY2017FY2018(From October 1, 2016
(From October 1, 2017
to September 30, 2017)
to September 30, 2018)
228
816

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)
FY2018(From October 1, 2017
to September 30, 2018)

FY2017(From October 1, 2016
to September 30, 2017)
Valuation difference on available-for-sale securities:
Amount recognized during the year

4

10

Amount of recycling

－

－

Total

4

10

Amount recognized during the year

93

282

Amount of recycling

－

－

Total

93

282

Total before income tax effect

98

292

Income tax effect

(1)

(3)

96

289

Foreign currency translation adjustment:

Total other comprehensive income*2

The amount of income tax effects associated with other comprehensive income(Million yen)
FY2018(From October 1, 2017
to September 30, 2018)

FY2017(From October 1, 2016
to September 30, 2017)
Valuation difference on available-for-sale securities:
Before income tax effect4

10

Amount of income tax effects

(1)

(3)

After tax effect adjustment

3

7

93

282

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

After tax effect adjustment

93

282

Before income tax effect

98

292

Amount of income tax effects

(1)

(3)

After tax effect adjustment

96

289

Total other comprehensive income

Open 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)
FY2017FY2018(From October 1, 2016
(From October 1, 2017
to September 30, 2017)
to September 30, 2018)
Cash and deposits
90,910119,053
Deposits with a term of over 3 months
Cash and cash equivalents

－

(75)

90,910118,978*2

Principal assets and liabilities of a company that became a consolidated subsidiary due to acquisition of stock
Assets and liabilities of Hawk One Corporation at time of its consolidation resulting from the acquisition of stock as well as the relationshipbetween the acquisition price of stock and expenditures (net) for its acquisition are presented below.
Current assets

57,743

Non-current assets

2,185

Goodwill

2,304

Current liabilities
Non-current liabilities
Other

million yen(36,463)
(570)
1,514

Non-controlling interests(6,941)

Acquisition price of stock

19,772

Cash and cash equivalents(8,594)

Deduction: acquisition expenditures

11,178Open 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 designated four segments: single-family related business, condominiums business, property resales
business and others as reportable segments.

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
FY2017 (From October 1, 2016 to September 30, 2017)
Reportable Segment
Single- family
homes related

Condominium Property resales

Others

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

Revenue
Revenue from
Outside Customers

187,949

26,48088,448

1,772

304,651－

304,651

－

－

527

52

580

(580)

－

187,949

26,48088,976

1,825

305,231(580)

304,651

23,095

4,345

11,122

54

38,617(1,000)37,617

Depreciation

300

11

8

7

327

44

372

Amortization of
goodwill

137

－

－

－

137

－

137

Intersegment
revenue and transfers
Total
Segment Income
Other items(NOTE)
１. Adjustment of ¥(1000)million for segment income includes intersegment elimination of ¥(23) million and corporate expenses of¥(977) 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 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 |FY2018 (From October 1, 2017 to September 30, 2018)（Million yen）
Amount Recorded on
Adjustments
Consolidated(Note 1)
Quarterly Statementsof Income (Note 2)

Reportable Segment
Single- family
homes related

Condominium Property resales

OthersTotal

Revenue
Revenue from
Outside Customers

218,540

49,385

107,399

15,409390,735－

390,735

－

－

31

－

31

(31)

－

218,540

49,385

107,430

15,409390,766(31)

390,735

26,276

7,230

12,272

2,408

48,188(883)

47,304

Depreciation

332

20

8

6

367

51

418

Amortization of
goodwill

137

－

－

－

137

－

137

Intersegment
revenue and transfers
Total
Segment Income
Other items(NOTE)
１. Adjustment of ¥ (883) million for segment income includes intersegment elimination of ¥58 million and corporate expenses of¥ (941) 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 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.
The Group has changed its reportable segments from this fiscal year. The brokerage business, single-family homes business, andOpen House Architect has be consolidated to establish a new segment, the single-family homes related business with the aim ofstrengthening the business model - a comprehensive system from purchase and construction to intermediacy. The Group designatedfour segments: single-family related business, condominiums business, property resales business and others as reportable segments.
Segment information for the fiscal year for 2017 on a consolidated basis was prepared based on the reportable segments applied forthe fiscal year for 2018.

Open House Co., Ltd. (3288)

17 |Non-Consolidated Financial Statements
Non-Consolidated Balance Sheets(Million yen)
FY 2017(as of September 30, 2017)
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

FY 2018(as of September 30, 2018)43,241
1,078
215
292

44,232
1,289
256
325

4,800

7,300

537
607
50,772

2,901
1,300
57,606

658
25
119
―
803

875
30
130
0
1,037

172
3

125
3

175

128

101
8,196
2
1,161
44
(10)
9,496

95
28,294
30
1,462
43
(9)
30,016

Total fixed assets
Deferred assets
Bond issuance cost
Total deferred assets

10,47531,182

42
42

36
36

Total assets

61,29088,825

Fixed asset
Tangible fixed assets
Buildings
VehiclesTools, furniture and fixtures
Other
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
Lease and guarantee deposits received
Other
Allowance for doubtful accounts
Total investments and other assets

Open House Co., Ltd. (3288)

18 |(Million yen)
FY 2017(as of September 30, 2017)

FY 2018(as of September 30, 2018)

Short-term loans payable－

19,772Current portion of bonds

242

242

Current portion of long-term loans payable

625

625

Accounts payable

806

1,521

Accrued expenses

176

217

Advances received

6－

Liabilities
Current liabilities

Deposits received

56

79

Provision for bonuses

580

717

Other
Total current liabilities

167

82

2,659

23,257Long-term liabilities
Bonds payable

1,573

1,331

Long-term loans payable

38,62538,0003

640,201

39,33742,86162,595

4,032

4,094

Legal capital surplus

3,815

3,877

Other capital surplus

2,118

2,118

Total capital surplus

5,934

5,996

35

35

11,11321,801

11,14821,837

Treasury stock(3,102)(6,102)

Total shareholders’ equity

18,01225,825

Valuation difference on available-for-sale securities

8

15

Total valuation and translation adjustments

8

15

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

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

408

388

18,42926,22961,29088,825

Open House Co., Ltd. (3288)

19 |Non-Consolidated Statements of Income(Million yen)
FY2017(From October 1, 2016
to September 30, 2017)

FY2018(From October 1, 2017
to September 30, 2018)

Operating revenue

10,281

9,762

Operating cost

4,034

5,104

Gross operating profit

6,246

4,658

Selling, general and administrative expenses

3,555

4,311

Operating income

2,691

346

Non-operating income
Interest income

4

99

6,002

15,014

Guarantee commission received

449

591

Other

183

253

6,640

15,959Interest expenses

294

468

Interest on bonds

10

8

Dividends income

Total non-operating income
Non-operating expenses

Amortization of bond issuance cost5

5

Guarantee commission

288

425

Commission fee

562

19

Other

71

15

1,233

944

Ordinary income

8,099

15,361

Income before Income taxes

8,099

15,361

691

185

Income taxes-deferred

32

(32)

Total income Taxes

723

152

7,375

15,209Total non-operating expenses

Income taxes-current

Net income

Open House Co., Ltd. (3288)

20 |Non-Consolidated Statements of Changes in Shareholders' Equity
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
Retainedearnings brought
forward
8,220

Total
retainedearnings

8,256

Treasury
stock

Total
shareholders’equity(1,852)

16,269Change of items during theperiodIssuance of new shares(Exercise of subscription
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 new shares(Exercise of subscription
rights to shares)

100

Dividends from surplus(4,482)

Net income

7,375

Purchase of treasury stock(1,250)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)

21 |FY2018 (From October 1, 2017 to September 30, 2018)(Million yen)
Shareholders’ equity
Capital surplus
Capitalstock

Retained earnings
Other retained
earnings

Total
shareholders’equity(3,102)18,012

Other
capitalsurplusTotal
capitalsurplusLegalretainedearnings

4,032

3,815

2,118

5,934

35

Issuance of new shares(Exercise of subscription
rights to shares)

32

32

32

65

Issuance of new shares(Issuance of restricted stock)

29

29

29

58

Balance at October 1, 2017

Retainedearnings brought
forward11,113Total
retainedearnings

Treasury
stock

Legal
capitalsurplus11,148Change of items during theperiodDividends from surplus(4,520)(4,520)(4,520)Net income

15,20915,20915,209Purchase of treasury stock(3,000)(3,000)Net changes of items otherthan shareholders’ equity
Total changes of items during
the period

62

62

－

62

－

10,688

10,668(3,000)

7,813

Balance at September 30, 2018

4,094

3,877

2,118

5,996

35

21,801

21,837(6,102)25,825

Valuation and translation adjustments

Balance at October 1, 2017

Valuation difference on
available-for-salesecurities

Total valuation andtranslation adjustments

8

8

Subscription rights toshares408

Total net assets

18,429Change of items during theperiodIssuance of new shares(Exercise of subscription
rights to shares)

65

Issuance of new shares(Issuance of restricted stock)

58

Dividends from surplus(4,520)Net income

15,209Purchase of treasury stock(3,000)Net changes of items otherthan shareholders’ equity

7

7

(20)

(13)

Total changes of items during
the period

7

7

(20)

7,800

Balance at September 30, 2018

15

15

388

26,229Open House Co., Ltd. (3288)

22 |