Create a Sustainable World.
FY2023 Financial Results
Third Quarter
November 9, 2023 (Thu.)WORLD HOLDINGS CO., LTD.
TSE Prime Market (2429)

CONTENTS© WORLD HOLDINGS CO., LTD.

01

02

03

Summary of FY2023
Third Quarter
Financial Results

Outlook for the TermEnding December
2023

Appendix
About Us

P.3

P.14

P.19

2

01

Summary of FY2023
Third Quarter
Financial Results

P.4

Summary of Financial Results

P.5

Overview of Business Results

P.6

Overview of Business Results by Segment

P.8

Products Human Resources Business

P.9

Services Human Resources Business

P.10

Real Estate Business

P.11

Information and Telecommunications Business

P.12

Agricultural Park Business

P.13

Financial Condition B/S

P.3© WORLD HOLDINGS CO., LTD.

3

Summary of Financial Results
Overallsummary

Human
ResourcesandEducation
Business

Sales in the first nine months increased 14% and operating profit was up 17% as sales and earnings surpassed the plan.
No change in the initial 2023 plan calling for record-high sales and earnings.
Lower production of semiconductors and electronic components and the completion of one-time projects in 2022 negatively
affected performance. But sales increased to more than planned because of the shift of people to the automotive companies
and other strong business sectors. Earnings decreased but slightly above the plan as there were up-front expenses for training
programs and moving people to different market sectors. In the third quarter, the earnings decrease was smaller due to demandfor people at automotive companies as well as in the logistics and direct customer sales sectors.
No change in the initial 2023 plan. Sales and earnings in the first nine months were above the plan but there is uncertainty
about the recovery of the semiconductor and electronic component sectors. Planning on sales and earnings growth in 2023 inpart due to contributions from up-front expenditures in the first half for recruiting and training activities.
The acquisition of Yamato Staff Supply was completed on September 1. Activities involving the alliance with Yamato Holdings
are growing steadily, including more management services for temporary staffing orders.

Real EstateBusiness

Sales increased and were far above the plan because of well-timed sales of commercial-use and other properties in the third
quarter and sales of some properties planned for the fourth quarter earlier than expected. A big increase in earnings because ofsales growth and below-plan marketing expenses.
No change in the initial 2023 plan. There were earlier than planned sales in the third quarter but no significant revision in the2023 property sales plan. Contracts have been signed for almost all condominiums and other properties planned to be sold in
the fourth quarter.

Information andTelecommunications
Business

Big changes are occurring in Japan’s mobile shop sector. Lower number of mobile phones sold and lower cost of mobile phoneplans reduced fee income.

Agricultural
Park Business

Negative effects of unfavorable Golden Week weather and a hot summer, but sales increased mainly because of higher
revenue per park visitor. Earnings down due to the high cost of electricity and other reasons. Increasing activities to attract
visitors to bring in more people as the winter is expected to be mild.

© WORLD HOLDINGS CO., LTD.

4

Overview of Business Results⚫ Higher sales and earnings with both well above the plan partly due to sales of some properties in the Real Estate Business earlier than planned.
⚫ Sales – Sales increased as people were shifted to strong business sectors in the core Human Resources and Education Business and commercial-use
properties were sold with the right timing in the Real Estate Business.
⚫ Earnings – Earnings increased, the result of a decrease in the Human Resources and Education Business mainly because of up-front expenditures,
higher earnings in the Real Estate Business, and lower than expected marketing expenses.
FY2022 1Q-3Q

FY2023 1Q-3Q

FY2023 1Q-3Q(Million yen)

ActualEstimate

ActualNet sales

132,346

138,766

150,976

12,2108.8%

18,62914.1%

Operating profit

6,621

5,013

7,769

2,756

55.0%

1,148

17.3%

Ordinary profit

6,736

4,871

7,690

2,819

57.9%

953

14.2%

Profit attributable toowners of parent

3,883

3,079

4,707

1,627

52.9%

823

21.2%

© WORLD HOLDINGS CO., LTD.

Against estimate

ChangeYoY

Pct. change

ChangePct. change

5Overview of Business Results by Segment (1)(Million yen)

Human Resources
and Education
Business

FY2022 1Q-3Q

FY2023 1Q-3Q

FY2023 1Q-3Q

ActualEstimate

ActualChangeNet sales

95,716104,111

Segment profit

4,087

3,067

109,711
3,153

Profit margin

4.3%

2.9%

2.9%

Products Human
Resources
Business

Net sales

64,386

69,139Segment profit

3,206

2,533

74,1302,728

Profit margin

5.0%

3.7%

3.7%

Services Human
Resources
Business

Net sales

31,33034,972

Segment profit

880

534

35,580425

Profit margin

2.8%

1.5%

1.2%

Net sales

26,88925,204

Segment profit

2,078

1,163

31,8593,841

Profit margin

7.7%

4.6%

12.1%

Net sales

6,476

5,915

53

84

5,856
-19

Profit margin

0.8%

1.4%

-

Net sales

3,264

3,534

Segment profit

145

178

3,549
100

Profit margin

4.5%

5.1%

2.8%

132,346

138,766

Elimination or
corporate

256

518

Operating profit

6,621

5,013

150,976694
7,769

Profit margin

5.0%

3.6%

5.1%

Real EstateBusiness
Information andTelecommunications
Business
Agricultural
Park Business

Segment profit

Net sales

Total© WORLD HOLDINGS CO., LTD.

Against estimate

YoY

Pct. change

ChangePct. change

5,599

5.4%

13,994

14.6%

85

2.8%

-933

-22.8%

4,991

7.2%

9,743

15.1%

195

7.7%

-478

-14.9%

608

1.7%

4,250

13.6%

-109

-20.4%-455-51.7%

6,654

26.4%

4,970

18.5%

2,677

230.1%

1,762

84.8%

-58

-1.0%

-619

-9.6%

-104

-

-73

-

14

0.4%

285

8.7%

-78

-43.8%-44-30.8%

12,2108.8%

18,629

14.1%

175

34.0%

437

170.8%

2,756

55.0%

1,148

17.3%

6

Overview of Business Results by Segment (2)Segment profit (Million yen)

Neｔ sales (Million yen)
Agricultural Park BusinessInformation and Telecommunications Business
Real Estate Business
Human Resources and Education BusinessYoY+14.1%
Against estimate+8.8%

Agricultural Park BusinessInformation and Telecommunications Business
Real Estate Business
Human Resources and Education Business

3,264
6,476
26,889138,766
3,534
5,915

3,549
5,856
31,859+17.3%
Against estimate+55.0%

7,769

150,976
132,346

YoY

100

6,621
145
53

25,204
2,078

5,013
178
84

3,841

1,163

95,716104,111

109,711
4,087
3,067

FY2022 1Q-3Q
Actual© WORLD HOLDINGS CO., LTD.

FY2023 1Q-3Q
Estimate

FY2023 1Q-3Q
Actual3,153-19
FY2022 1Q-3Q
Actual*Total operating profit includes adjustments.

FY2023 1Q-3Q
Estimate

FY2023 1Q-3Q
Actual7

Products Human Resources Business⚫ Orders in the semiconductor/electronic components and machinery categories decreased but sales were higher, and above the plan, because of services
provided to companies in the automobile and many other industries. Earnings were higher than planned but decreased because of expenditures for training
programs for people in the growing semiconductor industry and up-front expenditures to shift people to strong business sectors.
⚫ Expenditures to construct a technical center in Ozu, Kumamoto prefecture (completion scheduled for April 2024) and to train people for jobs in the growing
semiconductor industry, chiefly in Kyushu.
⚫ Preparations scheduled to start in November 2023 for a joint research program with the Chiba Cancer Center involving R&D for creating new cancerfighting drugs.
*3-month average

Segment profit (Million yen)

Net sales (Million yen)Temporary placement workforce (Persons)

YoY

R&D
Technology
Manufacturing+15.1%

YoY

Against estimate-14.9%+7.2%

Against estimate

R&D
Technology
Manufacturing

YoY+13.7%+7.7%

64,386

69,13910.3%

74,13020,722

3,206

10.2%

2,533

20.7%

2,728

18,227

1,624

1,367
2,557

4,584

14,302

14,515

FY2022 3Q
ActualFY2023 3Q
Actual

19.6%

69.1%

70.0%

FY2022 1Q-3Q
ActualFY2023 1Q-3Q
Estimate© WORLD HOLDINGS CO., LTD.

FY2023 1Q-3Q
ActualFY2022 1Q-3Q
ActualFY2023 1Q-3Q
Estimate

FY2023 1Q-3Q
Actual8Services Human Resources Business⚫ In the logistics sector, sales increased and were higher than planned because of the addition of new business sites, the acquisition of Yamato Staff Supply
and the recovery of demand in the direct customer sales sector.
⚫ Earnings decreased because of up-front expenditures in the temporary staffing order management business and other businesses and a downturn
following the end of one-time projects in the first half of 2022.
⚫ Acquired 51% ownership of Yamato Staff Supply on September 1. Activities involving the alliance with Yamato Holdings are growing steadily, including
more management services for temporary staffing orders.
*3-month average

Segment profit (Million yen)

Net sales (Million yen)Temporary placement workforce (Persons)YoY
Tourism/business process outsourcing
Sales directly to customers+13.6%
Logistics
Against estimate

YoY-51.7%
Against estimate+1.7%

34,972
31,33035,580Consortium
Tourism/business process outsourcing
Sales directly to customers

24.1%

23.1%

Logistics

30,650880

5,480
One-time
projects

534

425

Up-front
investments

64.5%

62.6%

+88.2%-20.4%

11.3%

14.3%

YoY

1,644
3,851

16,282
5,566
1,579
3,645

19,6745,492
FY2022 1Q-3Q
ActualFY2023 1Q-3Q
Estimate

FY2023 1Q-3Q
ActualFY2022 1Q-3Q
ActualFY2023 1Q-3Q
Estimate

FY2023 1Q-3Q
ActualFY2022 3Q
ActualFY2023 3Q
Actual*The FY2023 increase includes 14,003 people added due to the acquisition of Yamato Staff Supply.
© WORLD HOLDINGS CO., LTD.

9

Real Estate Business⚫ Retaining a cautious stance as prices remain high and continuing well-timed sales of commercial-use and other properties. Performance also
reflects early sales of some properties expected to be sold in the fourth quarter and below-plan marketing expenses. The result was big
increases in sales and earnings to well above the plan.
⚫ No change in the initial 2023 plan. No change in the 2023 sales plan. Contracts have been signed for almost all condominiums and otherproperties planned to be sold in the fourth quarter.
Segment profit (Million yen)

Neｔ sales (Million yen)Prefabricated house-related
Renovation-related
Developer-related

YoY

YoY

+18.5%+84.8%

Against estimate

Against estimate+26.4%+230.1％

31,859Higher
sales

35.1％

26,889Real estate for sale in process
Real estate for sale

5.6％
26.6％

1,163
56.2％

Lower
marketingexpenses+20.6%

47,210

Early salesofproperties

2,078

YoY

56,959

3,841

8.6％

25,204

Real estate for sale (Million yen)

46,68438,94967.7％

FY2022 1Q-3Q
ActualFY2023 1Q-3Q
Estimate© WORLD HOLDINGS CO., LTD.

FY2023 1Q-3Q
ActualFY2022 1Q-3Q
ActualFY2023 1Q-3Q
Estimate

FY2023 1Q-3Q
Actual8,260

10,275

FY2022 1Q-3Q
ActualFY2023 1Q-3Q
Actual10

Information and Telecommunications Business⚫ Sales and earnings decreased due to a smaller sales volume, lower fees per user due to lower cost of mobile phone plans and a decline in fees
received from mobile carriers.
⚫ The goal for this business is to raise the profile of mobile phone shops, which currently serve mainly individuals, by adding a corporate solutions
service and the ability to help solve issues of the areas where shops are located.

Segment profit (Million yen)

Neｔ sales (Million yen)
YoY

-9.6%
Against estimate

-1.0%
6,476

5,915

84

5,856
53

-19

FY2022 1Q-3Q
Actual© WORLD HOLDINGS CO., LTD.

FY2023 1Q-3Q
Estimate

FY2023 1Q-3Q
ActualFY2022 1Q-3Q
ActualFY2023 1Q-3Q
Estimate

FY2023 1Q-3Q
Actual11

Agricultural Park Business⚫ Sales increased and matched the plan despite the negative impact on the number of visitors of unfavorable Golden Week weather and a hot summer.
Sales growth was the result of higher sales per visitor because of more measures by all parks to increase sales of food and merchandise. Earnings
decreased and were below the plan mainly because of the high cost of electricity and high prices of supplies and other materials.
⚫ Increasing activities to attract visitors to bring in more people as the winter is expected to be mild.
⚫ Continuing to consider the installation at agricultural parks of solar power and storage battery systems to cut greenhouse gas emissions and expenses forelectricity. One system is operating at Comorebi Ibaraido Forest.

Neｔ sales (Million yen)Segment profit (Million yen)

Number of visiting customers (Ten thousand)YoY
FY2022+8.7%

FY2023

Against estimate

+0.4%

YoY

-30.8%
3,534

178

3,549

Against estimate-43.8%

145

3,264

18
16

14
12

100

10
8
6
4
2
0

FY2022 1Q-3Q
ActualFY2023 1Q-3Q
Estimate© WORLD HOLDINGS CO., LTD.

FY2023 1Q-3Q
ActualFY2022 1Q-3Q
ActualFY2023 1Q-3Q
Estimate

FY2023 1Q-3Q
ActualJan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec.

12

Financial Condition B/S⚫ Assets increased due to a 7.3 billion yen increase in real estate for sale and a 5.4 billion yen increase in goodwill as a result of M&A in the
Human Resources Education Business.
⚫ Liabilities also increased due to an increase in real estate for sale and a 24 billion yen increase in interest-bearing debt as a result of M&A.
⚫ Net assets increased by 4 billion yen but the equity ratio decreased by 3.8 points to 24.8%. The equity ratio is expected to increase in the
fourth quarter as real estate for sale and interest-bearing debt decrease due to property sales and other reasons.
End of September 2023

End of December 2022

Total assets

123,591 million¥

Total assets

155,847 million¥(+¥32,256 million）

Current assets

108,257¥

Liabilities

86,395¥Current assets

134,132¥

Liabilities

114,581¥

millionmillionmillionmillion

Real estate
for saleInterest-bearing
debt

Real estate
for saleInterest-bearing
debt¥49,605 million¥55,948 million¥56,959 million¥79,985 million

Net assets
Non-current assets¥37,195 million¥15,333 million

Net assets
Non-current assets¥41,266 million¥21,715 million*Real estate for sale is the sum of real estate for sale and real estate for sale in process.
© WORLD HOLDINGS CO., LTD.

13

02

P.15

FY2023 Outlook

P.16

Outlook by Business Segment

P.17

Reference: 2021-2023 Quarterly Performance

P.18

Shareholder Distributions

Outlook for the Term Ending
December 2023

P.14

© WORLD HOLDINGS CO., LTD.

14

FY2023 Outlook⚫ No change in the initial plan for 2023 sales and earnings. Although sales and earnings in the first nine months were higher than planned, this wasprimarily caused by earlier than planned property sales in the Real Estate Business.
⚫ In the core Human Resources and Education Business, fourth quarter performance will benefit from first half up-front expenditures for recruiting andtraining activities. Planning on record-high 2023 sales and earnings.
⚫ To build a base for long-term growth, Products HR Business is making preparations to meet the demand for people in anticipation of a recovery of thesemiconductor business and Services HR Business is strengthening capabilities in the logistics sector.
Actual for the term
ended Dec. 2022

Estimates for the term
ending Dec. 2023

(Million yen)

YoY

ChangePct. change

183,640

201,354

17,714

9.6%

Operating profit

8,929

9,916

987

11.1%

Ordinary profit

8,933

9,453

520

5.8%

Profit attributable to owners of parent

5,341

6,045

703

13.2%

Net income per share (Yen)

305.50344.84

39.34

12.9%

Dividend per share (Yen)

91.50

103.50

12.00

13.1%

Net sales© WORLD HOLDINGS CO., LTD.

15

Outlook by Business Segment
Actual for the term
ended Dec. 2022

(Million yen)

Human Resources
and Education
Business

Net sales
Segment profit
Profit margin
Net sales

Products Human
Resources Business

4,054

Profit margin

4.6%

Segment profit
Profit margin
Net sales

Real Estate Business

Segment profit
Profit margin

Information andTelecommunications
Business

Net sales
Segment profit
Profit margin
Net sales

Agricultural
Park Business

Segment profit
Profit margin
Net sales
Elimination or corporate

Total

Operating profit
Profit margin© WORLD HOLDINGS CO., LTD.

88,598Segment profit

Net sales

Services Human
Resources Business

132,880
5,179
3.9%

44,282
1,125
2.5%
38,044
3,181
8.4%
8,399
125
1.5%
4,314
158
3.7%
183,640
284
8,929
4.9%

Estimates for the term
ending Dec. 2023

144,104
5,409
3.8%
94,732
4,265
4.5%
49,371
1,144
2.3%
44,511
3,728
8.4%
8,074
214
2.7%
4,664
208
4.5%
201,354
354
9,916
4.9%

YoY
ChangePct. change

11,223
230

8.4%
4.4%

6,133

6.9%

211

5.2%

5,089
19

11.5%
1.7%

6,466
547

17.0%
17.2%

-325
88

-3.9%
70.7%

349
49

8.1%
31.4%

17,714
70
987

9.6%
24.8%
11.1%
16

Reference: 2021-2023 Quarterly Performance▍Net Sales and Operating Profit (Million yen)
Net sales

Agricultural Park
Information and Telecommunications
Real Estate
Human Resources and Education
Operating profit

FY2021

FY2022

Net sales:¥

FY2023 Forecast

183,640 million

201,354 million

Net sales: ¥154,704 million

Net sales: ¥(+18.7% YoY)

70,000(+9.6% YoY)

4,500
4,000

60,0003,500
50,0003,000

40,0002,500

30,000

2,000
1,500

20,0001,000
10,000500

002021/Q1
2021/Q2
2021/Q3
FY2021 1Q
FY2021 2Q
FY2021 3Q

2021/Q4
FY2021 4Q

2022/Q1
FY2022 1Q

2022/Q2
FY2022 2Q

2022/Q3
FY2022 3Q

2022/Q4
FY2022 4Q

2023/Q1
FY2023 1Q

2023/Q2
FY2023 2Q

2023/Q3
FY2023 3Q

2023/Q4
FY2023 4Q

Net sales

Human
Resourcesand Education

23,19925,042

26,68430,066

29,11332,74133,861

37,16433,93435,43540,34034,393

Real Estate

6,783

3,697

6,587

19,908

8,735

8,815

9,337

11,155

7,027

7,498

17,333

12,652

Information andTelecommunications

2,443

2,501

2,351

2,070

2,157

2,436

1,882

1,923

1,948

2,217

1,691

2,218

605
33,032773
32,015863
36,486

1,124
53,170704
40,711

1,502
45,496

1,056
46,1381,050
51,293813
43,724

1,585
46,7371,151
60,514

1,115
50,378

Human
Resourcesand Education

888

982

1,009

1,119

1,280

1,317

1,490

1,091

932

874

1,347

2,256

Real Estate

740

-340

513

2,063

-57

1,644

491

1,102

906

357

2,577

-113

4

89

39

-14

-37

113

-23

72

-69

85

-34

233

-68
1,682

-26
769

-28
1,663

102
3,366

-89
1,214

273
3,415

-39
1,992

13
2,307

-117
1,934

241
1,750

-22
4,084

108
2,147

Agricultural Park
Total

Segment profit

Information andTelecommunications
Agricultural Park
Operating profit© WORLD HOLDINGS CO., LTD.

(Forecast)17

Shareholder Distributions⚫ The basic policy for profit distributions is to distribute profits in a manner that reflects results of operations while retaining sufficient earnings for
future business operations and for making business operations stronger. For dividends, the goal is to stably and consistently increase thedividend while using a consolidated payout ratio of 30% as the guideline for dividends.
⚫ Forecast dividend increase to a record-high 103.5 yen per share for 2023.

103.5 Yen

101.7

91.5
75.3

82.7

83.0

79.5

52.7

45.7
23.7
10.0
FY2013

FY2014© WORLD HOLDINGS CO., LTD.

FY2015FY2016FY2017FY2018FY2019FY2020

FY2021

FY2022

FY2023(Forecast)18

03

Appendix

P.19© WORLD HOLDINGS CO., LTD.

P.20

The Purpose of the WORLDHOLDINGS Group

P.21

Purpose of the Segments

P.22

Sustainability Initiatives

P.23

Business Portfolio

P.24

History

P.25

Main Group Companies

P.26

Human Resources and Education Business

P.33

Real Estate Business

P.36

Information and Telecommunications Business

P.37

List of Agricultural Parks

P.38

Business Performance Trend

P.39

Medium-term Management Plan

P.40

Inquiries
19

The Purpose of the WORLD HOLDINGS Group
Contribute to happinessand a sustainable society
through the creation of avariety of ways we live
worldwide
Enabling people worldwide to enjoy evenmore energetic and fulfilling lives will
create happiness and contribute toprogress in many ways, thereby helping to
make the world better.
Our mission is to play a role in the creationof an energetic and stimulating society
where people can enjoy their lives.
© WORLD HOLDINGS CO., LTD.

20

Purpose of the Segments
The ways we work

The ways we create communities

We want to help people of all kinds find jobs that best
match their skills and goals in order to enable them toexperience the joy and satisfaction of work. By
providing training, we give people the skills to achieve
their full potential, which supports the growth andadvancement of businesses.

Pleasant communities are essential for people to lead enjoyableand fulfilling lives. By designing these communities, we provide
an environment for vibrant and satisfying lifestyles. Activities
place priority on preserving the environment and natural
resources in order to be a responsible member of society.

Human Resources
and Education

The ways we provide
convenience and safety

Real Estate

The
Ways
We Live

The ways we look to the future

We are dedicated to creating the use of today’s
advanced information technology infrastructure forbeing a source of convenience and for establishing anenvironment where people can enjoy their lives withconvenience and confidence.

Agricultural parks help protect the environment and conserve
the earth’s resources while giving children a place where they
can grow. By operating these parks, we are playing a role insustainable social progress.

Information andTelecommunications

Agricultural Park

© WORLD HOLDINGS CO., LTD.

21

Sustainability Initiatives
Materiality (important issue)

Real Estate⚫ Provide products and home facilities where people can enjoy their lives andplay a role in creating communities where people can live with confidence.
⚫ Create communities that are environmentally responsible, conserve resources
and prosper together with the areas where they are located.
⚫ Use the sustainable development of land to contribute to protecting theenvironment of regions where projects are located.

Information andTelecommunications⚫ Build a base for technological progress and create safe and pleasantcommunities by increasing the use of IT infrastructures and other sources of
convenience in society.

Agricultural
Park⚫ Maintain an environment that protects nature, conserves resources andcontributes to enable children to grow up in a sound and healthy manner.
⚫ Combat climate change and protect natural resources by utilizing land
responsibly and seeking more ways to create and utilize renewable energy.

Business
Revitalization⚫ Protect companies, employees and their families by maintaining financial
soundness in order to prevent bankruptcies.
⚫ Increase added value by revitalizing businesses, create rewarding
employment opportunities, and contribute to economic growth. Responsible
production and consumption.
⚫ Encourage people to have an entrepreneurial spirit and give people
opportunities to take on new challenges as entrepreneurs after a failure.

© WORLD HOLDINGS CO., LTD.

PurposeCreate the ways we work
We want to help people of all kinds find jobs that best match
their skills and goals in order to enable them to experience
the joy and satisfaction of work. By providing training, we give
people the skills to achieve their full potential, which supports
the growth and advancement of businesses.

Create the ways we create communities
Pleasant communities are essential for people to lead enjoyableand fulfilling lives. By designing these communities, we provide
an environment for vibrant and satisfying lifestyles. Activities
place priority on preserving the environment and natural
resources in order to be a responsible member of society.

Create the ways we provide convenience and safety
We are dedicated to creating the use of today’s advanced
information technology infrastructure for being a source of
convenience and for establishing an environment where
people can enjoy their lives with convenience and confidence.

Create the ways we look to the future
Agricultural parks help protect the environment and conserve
the earth’s resources while giving children a place where they
can grow. By operating these parks, we are playing a role insustainable social progress.

Create the ways we operate businesses
Revitalize businesses in order to maintain the soundness ofsociety and increase added value with the objective of being acompany that contributes to providing pleasant and rewarding
employment opportunities.

Contribute to happiness and a sustainable society throughthe creation of a variety of ways we live worldwide

Human Resources
and Education⚫ Support the sustainable advancement of society by providing many jobs.
⚫ Use high-quality training programs to develop the skills of employees in orderto enable people to realize their full potential, increase motivation andcontribute to economic growth.
⚫ Support the manufacturing and service sectors worldwide by providing humanresources and create a base for technological progress by maintaining aworkforce of highly skilled people.
⚫ Provide workplaces where all employees, regardless of gender, can performtheir jobs to the best of their ability.

Value creation

22

Business Portfolio
Create a Sustainable World.
Use a well-balanced business portfolio for rapid growth
and activities that help create a sustainable world
Real Estate Business

Human Resources and Education Business

Real Estate

私たちは持続可能な開発目標（SDGs）を支援していますThe “Ways We Live”

Information and Telecommunications BusinessInformation andTelecommunications

Products Human Resources Business

Agricultural Park Business

Services Human Resources Business
Establishment of a business model focused on
the ability to respond to changes
Diversificationof business
Decentralization© WORLD HOLDINGS CO., LTD.

One-timerevenuebusiness

Agricultural Park

Recurring
revenuebusiness

23

History

COVID-19 crisis

Entry into Agricultural Park BusinessMoved to TSE Prime Market

Agricultural Park

Bankruptcy ofLehman Brothers

FARM became a member of theWORLD HOLDINGS Group

Listed on TSE 1st Section(3 months after 2nd Section listing)
Shifted to a holding company structure(Company name changed to WORLD HOLDINGS)

Entry into Information andTelecommunications Business

Established WORLDRESIDENTIAL

Started the real estatedevelopment business

Real Estate

Information andStart of sales & marketing staffing
business
Start of R&D staffing business-4.3

End ofbubbleAsia currency
crisisStart of technology staffing businessStart of factory staffing business
Entry into Human Resources andEducation BusinessEnd of IT
bubbleTelecommunications
e-support became a memberof the WORLD HOLDINGS Group

Listed on JASDAQ

Human
Resources andEducation

Start of overseas real estate
operations-0.5

Bubble economy

Established WORLD INTEC

Established Kyushu Hokubu
RehouseStarted a residential brokerageand development business

Established Mikuni

4.2

24© WORLD HOLDINGS CO., LTD.

Establishment

Real Estate

1986

6.8
1985

-5.4
*The graph is Japan’s GDP.

1.0
0.4

1.1

2022
2017
2014

2016
2010
2005
1993
1981

Main Group Companies
50 affiliated companies

Products Human
Resources BusinessWORLD INTEC CO., LTD.

WORLD STAFFING CO., LTD
Human resources services(Logistics/ Light-duty jobs/ Call centers)

Outsourced software development

TOHO WORLD CO., LTD.
PC schools/ Produces websites

Human resources services (Materials)

WORLD RESIDENTIAL CO., LTD.

E-SUPPORT, INC.

Development (Kanto)
Comprehensive real estate business

Operation of call centers and stores

JW SOLUTION CO., LTD.
Human resources services (Tourism)

World iCity Co., Ltd.

RENOVE MIKUNI CO., LTD.

Development (Tohoku)

Renovation

NETWORK SOLUTION CO., LTD.
Operation of mobile phone stores(Softbank)

Dimples’ Co., Ltd.
Human resources services(Sales directly to customers)

WORLD RESIDENTIAL KANSAI CO., LTD.

M'S WORLD CO., LTD.

WORLD STYLE CO., LTD.

Development (Kansai)

Renovation (Hokkaido)

Operation of mobile phone stores(au)

Nichimo Real Estate Co, Ltd.

Best IT Business Co., Ltd.

Human resources services (Taiwan)

Human resources services(Manufacturing/ Plant)

Human resources services(Logistics/ Educational training)

Real estate consulting

Corporate solutions

WORLD INTEC SHANGHAI CO., LTD.
Business consulting and comprehensive
human resources services (China)(Non-consolidated)

Nippon Gijutsu Center Co., Ltd.
Human resources services(Technology/ Design/ Manufacture)

Dimples’ Realty Staff Co., Ltd.
Human resources services(Sales directly to customers)(Non-consolidated)

Condominium and building management

Human resources services (China)

Design and development ofindustrial machineryWORLD INTEC TAIWAN CO., LTD.

Agricultural Park Business

Services Human
Resources Business

Human resources services(Manufacturing/ Technology/ R&D)

WORLD CONSTRUCTION CO., LTD.
Human resources services(Construction technology)

Information and
情報通信ビジネス
Telecommunications Business

Real不動産ビジネス
Estate Business

Human Resources
and Education Business
人材教育ビジネス

Creative Inc.

Yamato Staff Supply Co., Ltd.

WORLD INTEC CO., LTD.
Management and operation ofagricultural parks

CROWDWEIGHT CO.,LTD.
Management andoperation of agriculturalparks

WORLD LIFE PARTNER CO., LTD.

WORLD DEVELOPMENT INDONESIAWORLD INTEC AMERICA, INC.

Sankin Kaihatsu

Human resources services (U.S.)

Development and operation of the
Wakrak daywork application(Non-consolidated)

Human resources services(Materials) (Non-consolidated)

Development (Indonesia) (Non-consolidated)
OMACHI WORLD Co., Ltd.
Manufacturing of prefabricated house

WORLD GLOBAL SUPPORT CO., LTD.

World Share Selling Co., Ltd.

Support services for foreign intern training programs(Non-consolidated)

Sales of prefabricated house/ Geotechnical survey (Non-consolidated)

DOT WORLD Co., Ltd.

金融関連
FinanceBusiness

Clinical research (CRO)WORLD ASSET MANAGEMENT CO., LTD.
Real estate fund management (Financial Instruments and Exchange Act)
(Non-consolidated)

Repair of cameras and digital equipment
GEOGRAPHIC INFORMATION OF KYUSHU, INC.

World Capital Solutions

Geographic information system development

Real estate fund management (Act on Specified Joint Real Estate Ventures)WORLD SYSTEM SERVICE CO., LTD.
Outsourced software development

Mirai Servicing Co, Ltd.

■ Human Resources and Education Business
Products HR: 18 companies; Services HR: 6 companies© WORLD HOLDINGS CO., LTD.

Collection of receivables (Non-consolidated)■ Real Estate Business: 15 companies■ Information andTelecommunications
Business:
４ companies■ Agricultural Park Business:
7 companies

25

Human Resources and Education BusinessBusiness process outsourcing and staffing services that seamlessly
cover a broad range of business domains

Manufacturing domain

Service domain

Products Human Resources Business

Services Human Resources Business

半導体
機械
電気電子

After-sales service

半導体
自動車
情報通信

Manufacturing

Design/Development

R&D
医薬
バイオ
CRO

Support for upstream to downstream
processes for manufacturing

About© WORLD HOLDINGS CO., LTD.

Logistics

Tourism

E-commerce

Tourismindustry

Sales
directly tocustomers
High-volume retailers
Department
stores

A strategically targeted approachfor rapid growth in the services
domain51,000 workers in service*As of September 30, 2023
26

Consortium Collaboration Centered on Outsourcing⚫ Our goal is sustainable growth by using collaboration with other human resources companies and partnerships with clients, all centered on outsourcing.

Co-sourcing

A higher level of outsourcing by working even more closely with customers as a good partner andreceiving the benefits of joint activities together

Outsourcing
V• Upgrade training programs andretention rates• Higher profitability by improving
productivity• Help customers increase productivity• Mutual stability during
economic/market downturns

Activities with other HR companies

Activities with client companies• WORLD HOLDINGS
outsources projects and works
with other HR and othercompanies• Contribute to industry
innovations and advances byusing partnerships with leading
companies in various industries
and leveraging the knowhow ofWORLD HOLDINGS and clientcompanies

Consortium
model

Collaboration
with prominentcompanies

Contribute to happiness and a sustainable society through the creation of a variety of ways we live
© WORLD HOLDINGS CO., LTD.

27

Training Programs and Improving Productivity⚫ Continue upgrading and expanding leadership, technology and other training programs and provide support for employees to advance their careers or change
career paths.
⚫ Increase the number of outsourced/subcontracted projects by providing training that raises the number of project managers and team leaders.
⚫ Increase earnings by using teams to improve output and use improvements to contribute to increasing productivity and quality at client companies.

Upgrade leader training and technology training
Subcontracting production to teams• Leadership training, training for people
to become the next office managers• Training for people to become the next
leaders• Project manager training• Mechanical design/production
technology training• IT engineering technology training
etc.

Team
leaderLeadercandidate• Use teams to seek ways to improve
production• Share improvement know-how withothers• Pass on improvement know-how sothat leader candidates can become
leaders of other lines

Leadercandidate

R&D

DesignManufacture

Logistics

After-sales
service

Participants in Training Programs (Persons)

7,450
5,379
3,569

2,832

2,561

FY2019FY2020© WORLD HOLDINGS CO., LTD.

Production improvement

FY2021

FY2022

FY2023
Estimate

Quality improvement

Improves production and quality for customers and earningsof the outsourcing business28

Use of the Consortium Model⚫ Customers outsource tasks to WORLD HOLDINGS, which then performs work jointly with local human resources companies and bycollaborating with partner companies of client companies.
⚫ Horizontal utilization of knowhow in the logistics sector at JW SOLUTION, TOHO WORK and other companies
Collaboration with local human resources companies

WORLD STAFFING CO., LTD (logistics sector)

Received contract to operate several logistics
warehouses of a large foreign e-commerce company

Customers

WORLD HOLDINGS Performs outsourced tasks

Human resources
人材会社
company

Human resources
人材会社
company

Human resources
人材会社
company

Human resources
人材会社
company

A

B

C

D

a

© WORLD HOLDINGS CO., LTD.

b

c

d

a

b

c

d

a

b

c

d

a

b

c

d

29

Collaboration with Prominent Companies (1)⚫ Alliances with prominent companies in other industries are used to play a role in industry reforms and innovation and in making improvements
at alliance partners. Growth of WORLD HOLDINGS is another goal.

For tourism industry progress anddealing with the labor shortage

Assist with passing on technologies
and skills about basic materials

Toho Titanium• WORLD HOLDINGS is collaborating with JTB for the advancement of the
tourism industry and measures to cope with the labor shortage.
• A joint venture was established in April 2019, 60% owned by the WORLDHOLDINGS Group and 40% by the JTB Group.

• Training of people who serve customers and subcontracting for the operation of
hotels, theme parks and other tourism facilities and provision of temporary
staffing services.
• Establishment of consortiums with human resources companies in different
regions of Japan and use of know-how at the WORLD HOLDINGS Group and
JTB Group about training and retention support.
© WORLD HOLDINGS CO., LTD.

• WORLD HOLDINGS is collaborating with Toho Titanium for the purposes ofpassing on to younger people technologies and skills about basic materials andof taking actions to cope with the labor shortage.
• A joint venture was established in April 2020, 55% owned by WORLD INTEC
and 45% by Toho Titanium.
• This company is establishing a human resources business specifically for thebasic materials industry that will help pass on technologies and skills to younger
people.
• Established a consortium with companies used by Toho Titanium foroutsourcing in order to help these companies recruit and train skilled people forthe purpose of performing outsourced production and other tasks of Toho
Titanium.
30Collaboration with Prominent Companies (2)⚫ Agreement to establish a strategic business alliance with Yamato Holdings Co., Ltd.
⚫ WORLD STAFFING purchased 51% of the stock of Yamato Staff Supply on September 1, 2023, making this company a subsidiary.

Strategic Business Alliance

Yamato Staff Supply Joins the WORLD HOLDINGS GroupWORLD STAFFING CO., LTD
YAMATO HOLDINGS￭ Logistics anddistribution expertise￭ Capable of handling all logistics
warehouse tasks￭ Nationwide network of
distribution centers￭ Personnel utilization andmanagement expertise• As the business climate for the logistics industry changes, the resources of both companies
will be used effectively to continue to target opportunities for earning profits and for becoming
even more competitive.

YAMATO HOLDINGS￭ Ownership decreases
from 100% to 49%￭ Acquisition of 51%
of stock

YAMATO STAFF SUPPLYThe CEOs of WORLD HOLDINGS and Yamato Holdings were atpress conference for the alliance that took place on July 27, 2023.

• The use of the knowledge of Yamato Holdings, one of the largest logistics companies, andWORLD HOLDINGS, which can use the consortium business model to perform all logistics
warehouse tasks for customers.
• WORLD STAFFING purchased 51% of the stock of Yamato Staff Supply, making thiscompany a subsidiary.
• Yamato Staff Supply handles the human resources business of Yamato Holdings. Adding thiscompany to the WORLD HOLDINGS Group is expected to create more opportunities forreskilling, which will help the company become a fully integrated human resources services
organization.
© WORLD HOLDINGS CO., LTD.

On the right is Yutaka Nagao, president of Yamato Holdings.
31

Human Resources and Education Business Performance
Net sales and segment profit (Billion yen)

144.1

Human Resources and Education (Services Human Resources)

132.8

Human Resources and Education (Products Human Resources)
Human Resources and Education

Services HR

Segment profit*

CAGR

13.9%
75.0

77.7

49.3

Services HR

104.9

44.2
Services HR

83.1

Products HR

34.3

94.7

Products HR

88.5

Products HR

70.6
5.1

5.4

4.0
2.8

2.8

2.9

FY2018FY2019FY2020

FY2021* Segment profit for FY2021 and prior years have been restated for consistency with the new business segments that began in FY2022.
© WORLD HOLDINGS CO., LTD.

FY2022

FY2023予想
Forecast
32

Real Estate Business
Building an infrastructure able to adapt to any change in thebusiness climate

Real estate trust
beneficiary rights

Real estate for investment
Development

Real estate revitalization

Real estate financeCondominiums/Detached houses
Commercial land development

Renovation
Conversion

Asset management

Conduct business mainly in major cities of the
Tohoku, Tokyo Metropolitan, Kinki and Kyushu areas

Conduct real estate revitalization business, such as
renovation, around Japan

Real estate fund management

Residential Aoba Hirosegawa(Sendai, Miyagi)

Examples of renovation

BIZIA Kojimachi Building© WORLD HOLDINGS CO., LTD.

33

Real Estate Business: Reasonable Goals for the Reduction of Risk
⚫ To minimize risk, the Real Estate Business is using a prudent business plan rather than aiming for unreasonably high growth.
⚫ A cautious stance about buying properties, but carefully selected high-quality properties will be purchased. The aim is to maintain the inventory
turnover ratio at about one.

Real estate for sale / real estate for sale in process /inventory turnover (Billion yen)

Net sales and segment profit (Billion yen)
Net sales

Real estate for sale / real estate for sale in process

Segment profit

Inventory turnover (times)

56.9
48.1

44.5

42.1
36.9

38.1

49.6
42.6
35.0
27.9

3.6

3.0

3.2

3.7
1.2

1.1

FY2019FY20201.5
FY2019FY2020© WORLD HOLDINGS CO., LTD.

FY2021

FY2022

FY2023
Forecast

1.3

FY2021

1.1
FY20220.9
FY2023
3Q

Inventory turnover = Real Estate Business sales in previous year / Real estate for sale and real estate for sale in process at the end of the previous year
For FY2023, the Real Estate Business sales forecast is used.
34Real Estate Business:
Purchasing Skill, Synergies with the Human Resources and Education Business⚫ During the next several years and longer, synergies with the Human Resources and Education Business are expected by using real estate M&A
activity and strengthening operations for the development of logistics facilities.

Real estate M&ALand development expertise

Real estate
M&A© WORLD HOLDINGS CO., LTD.

Purchasing
expertise andprospects forsynergies with the
Human Resources
and Education
BusinessWORLD
HOLDINGS

M&A

Companies that want to be acquired or shut down

Use of realestate bycollecting
receivables
Factories and other properties

Employees

Development of land,
etc. by the Real
Estate Business

Employees are
employed by the
Human Resources andEducation Business35

Information and Telecommunications Business
Mobile phone shop

Corporate solutions

The largest network of stores in Kyushu
Mobile phone shops in Fukuoka, Saga, Oita and Nagasaki Prefectures

We propose the reduction of costs for electric
power, communications, etc. by selling our
products to corporations￭ Comprehensive cost reduction solutions

Fukuoka

Softbank Shops

Monitoring
camerasSaga

au Shops

32

Air conditioners forbusiness use

LEDlighting

Smartphones

Oita
Nagasaki
Kumamoto

PCs

Security

storesMiyazaki

As of September 2023
Kagoshima

Water
dispensers

Supplies

Multifunction
machines

Telephonesystem forbusiness use

Internetlines￭ Call centers

Okinawa© WORLD HOLDINGS CO., LTD.

Sale of various products
for individuals and corporations
36

List of Agricultural Parks
Operation of nature-rich agriculturalparks, etc. at 15 locations around Japan
Operation of a total of 15 facilities, including 4 directly
managed facilities and other entrusted facilities
Deepen regional roots and contribute to the regional
economy and job creation
Minokamo Rest Area
Kanzaki Farm Park

Yodel Forest

Comorebi

Ibaraido Forest

Directly
managed

Niimi Chiya Onsen Ibukinosato
Chiba Zoological Park

Fureai Dobutsu-no-Sato

Kitakyusyu Municipal

Sougou Nouji Center
Nagai seaside Park

Soleil Hill

Hibikinada

Green Park

Shiga Agricultural Park

Blumen Hugel Farm
Sakai Greenery Museum

Harvest Hill

Directly
managedDirectly
managedAma Site ParkWe also produce and sell
homemade sausages,
confectionery, beers, etc.
© WORLD HOLDINGS CO., LTD.

Okayama Forest Park

German Forest

Directly
managedOhashi Kogen International
Exchange Village

Osaka Prefectural

Garden of Floral Culture
Wakayama Castle
Zoological Park37

Business Performance Trend(Billion yen)(Billion yen)
250.0

12.0

Agricultural Park BusinessInformation and Telecommunications Business

201.3

Real Estate Business
FY2016200.0

Human Resources and Education Business

FY2020Listed on 1st sectionof TSE

Operating profit (right axis)

183.6
8.9

COVID-19 crisis

8.0

154.7
150.0

7.4

FY2010
Entry into Real EstateBusiness

FY20085.1

Bankruptcy ofLehman Brothers

100.0

87.9

FY2006
Entry into Information andTelecommunications
Business
Listed on JASDAQ

94.3

6.0

4.7
4.0

2.0

1.2

1.3
1.0
0.3

0.0
FY2007

6.2

2.1

37.8

32.1

29.0

FY2006

136.3

56.4

53.0

34.8
0.9

7.4

143.5

3.7
68.8
48.7

46.4

50.0

7.0
127.1

7.3
142.8

10.0

9.9

FY2008FY20090.5

0.3
FY20100.0
FY2011FY2012FY2013

FY2014FY2015FY2016FY2017FY2018FY2019FY2020

FY2021

FY2022

FY2023Plan

Created business foundation (early days)
Used internal resources for enhancing governance
New Medium-termManagement Plan
2007 to 2009

Medium-term Management
Plan 2010 to 2013

Expansion based on balanced management
New Medium-termManagement Plan 2021

Medium-termManagement Plan 2026

New Medium-term Management
Plan 2012 to 2016

Note: The former segments had been used until FY2021, and the new segments are used for FY2022 and the plan for FY2023.
© WORLD HOLDINGS CO., LTD.

38

Medium-term Management Plan
A good start in the plan’s first year

2026 Targets⚫ Benefits of a diversified portfolio spanning many industries⚫ Human Resources and Education Business was theprimary source of growth

The first year results

Agricultural Park Business(Million yen)

270,000

Information and Telecommunications Business
Real Estate Business

Against initialplan

Net sales

275.0 billion¥

OperatingprofitPayout ratio

15.0 billion

30%¥

17,000Medium-term Management Plan 2026

Net sales

Human Resources and Education Business
Operating profit

15,000+8.8%
Operating profit+43.0%

220,000

13,00011,000170,000
9,000

120,000
7,000

70,0005,000
FY2021(Results)© WORLD HOLDINGS CO., LTD.

FY2022（Initial plan）

FY2022（Results）

FY2023（Plan）FY2024（Plan）FY2025（Plan）FY2026（Plan）
39

Inquiries
No information in this presentation is provided for the
purpose of soliciting purchases or sales of our stock.
Furthermore, opinions, forecasts and other information notbased on historical facts represent our judgments at thetime this presentation was prepared.
We do not guarantee the accuracy of this information andmay revise this information at any time without prior notice.
We and other providers of this information assume no
responsibility whatsoever for any losses incurred inassociation with the information in this presentation.

Norio Nishihara
Public and Investors Relations OfficeWORLD HOLDINGS CO., LTD.

© WORLD HOLDINGS CO., LTD.

TEL

+81(0)3-3433-6005

E-MAILirinfo＠world-hd.co.jp

URL

https://www.world-hd.co.jp/

40