Create a Sustainable World.
FY2024 Financial Results
Second Quarter
August 9, 2024 (Fri.)WORLD HOLDINGS CO., LTD.
TSE Prime Market (2429)

CONTENTS© WORLD HOLDINGS CO., LTD.

01

02

03

Summary of FY2024
Second Quarter
Financial Results

Outlook for the TermEnding December
2024

Appendix

P.3

P.13

P.29

2

01

Summary of FY2024
Second 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

Manufacturing 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.3© WORLD HOLDINGS CO., LTD.

3

Summary of Financial Results
Overall summary

Although sales increased, operating profit decreased due to the continued stagnation in the semiconductor industry inthe mainstay Human Resources and Education Business and fewer properties soled in the Real Estate Businesscompared to the same period last year. However, profits in particular fared significantly better than planned due to cost
controls in the Human Resources and Education Business and increased rental income in the Real Estate Business.

Human
ResourcesandEducation
Business

In the Manufacturing HR Business, profits decreased due to the continued stagnation in the semiconductor industry, as
well as the impact of the Noto Peninsula earthquake at the beginning of the year and production suspensions in theautomobile industry, but accurate cost control and the postponement of planned recruitment investments to the second
half of the year meant that results were significantly higher than planned. In the Services HR Business, sales andprofits increased thanks to steady growth in the logistics division, expansion of HR support operations, andcontributions from Yamato Staff Supply, as well as favorable performance in the customer service sales division.
In the Human Resources and Education Business as a whole, profits decreased YoY due to the harsh businessenvironment, but sales and profits increased on a three-month basis.

Real EstateBusiness

The company takes cautious approach, considering the risk of high real estate prices and rising construction costs. In
this environment, some sales of properties were brought forward to the previous fiscal year, resulting in fewer
properties sold compared to the same period of the previous fiscal year, and sales and profits declined. On the other
hand, rental income from properties purchased in prior years and rental income resulting from the continuing strategicacquisition of properties for the real estate sales business that are currently leased to tenants.
Contracts and sales of properties scheduled for delivery in the second half of the year are also progressing smoothly.

Information andTelecommunications
Business

Agricultural
Park Business© WORLD HOLDINGS CO., LTD.

Sales and profits increased and exceeded the plan, mainly due to the fact that the company was able to takeadvantage of the rush demand opportunity created by the legal revision at the end of 2023.
Sales and profits increased YoY in part because of a mild winter with little rain and good weather during the Golden
Week, and were far above the plan. Major renovations and upgrades of park facilities during 2023 are contributing tosales growth by increasing visitor satisfaction. Operations started in April as planned at five additional parks where thisbusiness has new management contracts.
4Overview of Business Results

 While the first half results consists of a planned increase in sales and a decrease in profits, profits were far above the plan. In the 2Q, operating
profit recovered to about the same as in the 2Q of 2023.
 In the Human Resources and Education Business, sales were up and profits were down mainly due to continued stagnation in thesemiconductor industry. In the 2Q, sales and profits increased due to flexible personnel transfer and cost controls.
 In the Real Estate Business, profits decreased as the cautious stance of this business continues. Profits were well above the plan mainly
because of income from leasing real estate for sale.

(Million yen)

FY2023 2Q

FY2024 2Q

FY2024 2Q

ActualPlan

ActualAgainst plan
ChangePct. Change

YoY
ChangePct. Change

Net sales

90,461

109,547

110,805

1,258

1.1%

20,343

22.5%

Operating profit

3,685

1,189

2,358

1,168

98.3%

-1,327-36.0%

Ordinary profit

3,645

1,010

2,381

1,370

135.6%-1,264-34.7%

Profit attributable toowners of parent

2,013

254

737

483

190.4%-1,275-63.4%EBITDA*

4,443

-

3,401

-

-

-1,041-23.4%

Depreciation

453

-

501

-

-

48

10.7%

Amortization of
goodwill

303

-

541

-

-

237

78.1%

© WORLD HOLDINGS CO., LTD.

* EBITDA ＝ Operating profit + Depreciation + Amortization of goodwill

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

FY2023 2Q

FY2024 2Q

FY2024 2Q

ActualPlan

ActualAgainst plan

YoY

ChangePct. change

ChangePct. change

90,092
1,721

1,916

2.2%

20,721

29.9%

858

99.6%

-86

-4.8%

2,033

4.0%

5,174

10.8%

538

84.6%

-475

-28.8%

-117

-0.3%

15,54672.6%

320141.7%

388

247.8%

-8.5%

-891

-6.1%

Human Resources
and Education
Business

Net sales

69,37088,176

Segment profit

1,807

862

Profit margin

2.6%

1.0%

Manufacturing
Human
Resources
Business

Net sales

47,94651,087

Segment profit

1,650

636

53,121
1,175

Profit margin

3.4%

1.2%

2.2%

Services
Human
Resources
Business

Net sales

21,42437,088Segment profit

156

225

36,971
545

Profit margin

0.7%

0.6%

1.5%

Net sales

14,526

14,895-1,260

Segment profit

1,264

-74

13,634
308

382

－

-956

-75.6%

Profit margin

8.7%

-0.5%

Net sales

4,165

4,038

314

7.8%

187

4.5%

15

38

4,353
97

59

153.1％

82

530.8%

Profit margin

0.4%

1.0%

Net sales

2,398

2,437

287

11.8%

326

13.6%

Segment profit

122

98

2,724
171

72

74.2%

48

39.4%

Profit margin

5.1%

4.0%

110,805
60
2,358

1,258

1.1%

20,343

22.5%

-204

-77.3%-415-87.4%

1,168

98.3%

-1,327-36.0%

Real EstateBusiness
Information andTelecommunications
Business
Agricultural
Park Business

Segment profit

90,461

109,547

Elimination or
corporate

475

264

Operating profit

3,685

1,189

Profit margin

4.1%

1.1%

Net sales

Total© WORLD HOLDINGS CO., LTD.

1.9%

2.3%

2.2%

6.3%

2.1%

6

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

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

109,547
90,461
2,398
4,165

2,437
4,038
14,895+22.5%
Against plan

+1.1%

110,805
2,724
4,353
13,634

YoY

Agricultural Park BusinessInformation and Telecommunications Business
Real Estate Business
Human Resources and Education Business-36.0%
Against plan

+98.3％

3,685
122
15

2,358

1,264

171

14,52697308
88,176

1,189

90,092

69,370

1,807

98
38

1,721

862
FY2023 2Q
Actual© WORLD HOLDINGS CO., LTD.

FY2024 2Q
Plan

FY2024 2Q
ActualFY2023 2Q
Actual*Total operating profit includes adjustments.

-74

FY2024 2Q
Plan

FY2024 2Q
Actual7

Manufacturing Human Resources Business Factors such as the continued stagnation in the semiconductor sector, the Noto Peninsula Earthquake, and the shutdowns in the automobile industry contributed
to the adverse business climate as the first half started.
 By leveraging our strength in covering multiple industries and effectively shifting personnel across various industries, sales increased and exceeded the plan.
 Profits decreased because of the continued stagnation and the suspension of production above mentionedas well as one-time expenses caused by thecompletion of a large project. However, profits were much higher than the plan mainly due to cost controls and a temporary reduction in recruiting activities. During
the second half, more expenditures for recruiting and training are planned to meet demand created by the expected recovery of the semiconductor industry.
 In the 2Q, sales and profits increased YoY due to the end of the impact of the Noto Peninsula Earthquake and the benefits of cost controls.

Net sales (Million yen)
YoY

R&D
Technology

51,087

10.3%+10.8%-28.8%

Against plan

Against plan

53,121+84.6%

1,650

R&D
Technology

11.1%

1,175

YoY

+7.6%

Manufacturing

20,151

21.0%

20.6%

Temporary placement workforce
YoY

+4.0%

Manufacturing

47,946

Segment profit (Million yen)

*3-month average(Persons)

20,291

1,577

1,912

3,493

4,783

15,081

14,226FY2023 2Q
ActualFY2024 2Q
Actual

636
67.9%

69.1%

FY2023 2Q
Actual© WORLD HOLDINGS CO., LTD.

FY2024 2Q
Plan

FY2024 2Q
ActualFY2023 2Q
ActualFY2024 2Q
Plan

FY2024 2Q
Actual8Services Human Resources Business Sales and profits increased and were higher than planned. In particular, profits were far above the plan.
 Consistent growth in the e-commerce logistics sector and the inclusion of the performance of Yamato Staff Supply, which joined the World HoldingsGroup in 2023, made a contribution to the strong performance.
 The HR Support and other new businesses that use labor management skills acquired from distribution warehouse subcontracting operations
contributed to the growth of sales and profits.
 The face-to-face sales personnel staffing successfully seized business opportunities created by recovering sales to foreign tourists in Japan and the
Valentine’s Day selling period.

Net sales (Million yen)
Tourism/business process outsourcing
Face-to-face sales personnel staffing
Logistics

YoY

Temporary placement workforce (Persons)YoY+72.6%+247.8%Against plan

Against plan

-0.3%

37,088*3-month average

Segment profit (Million yen)+141.7%36,971

Consortium
Tourism/business process outsourcing
Face-to-face sales personnel staffing

30,76916.3%

21,424

225

12.7%
26.0%

78.1%

16,802156© WORLD HOLDINGS CO., LTD.

4,959
1,154
3,930

5,417
1,559
3,902

61.3%
FY2023 2Q
Actual+94.9%

Logistics

545

5.6%

YoY

20,7265,924
FY2024 2Q
Plan

FY2024 2Q
ActualFY2023 2Q
ActualFY2024 2Q
Plan

FY2024 2Q
ActualFY2023 2Q
ActualFY2024 2Q
Actual*The increase in logistics includes 14,752 people added due to the acquisition of Yamato Staff Supply.

9Real Estate Business We have been maintaining a cautious stance in order to ensure the optimum timing for both purchasing and sales, given the risk associated withpersistently high real estate prices.
 Due to the deliveries brought forward to the previous fiscal t year, fewer properties were sold compared to the same period last year, resulting inlower revenue and profits. On the other hand, profits were well above the initial plan mainly because of the growth of income from the strategicleasing of real estate for sale (increase in recurring revenue).
 The deliveries of properties for this year will be concentrated in the second half (especially in the fourth quarter), while contracts and sales haveprogressed smoothly.
Net sales (Million yen)Segment profit (Million yen)
Real estate for sale (Million yen)Prefabricated house-related
Renovation-related
Developer-related

14,526

YoY

YoY

-6.1%

-75.6%

Against plan

Against plan

-8.5%

14,895

8.6%

13,634

Real estate for sale in process
Real estate for sale-

58,5701,264

66,67453,464

46.8%

56.2%

49,405

△74
-74

45.2%

308
9,165

© WORLD HOLDINGS CO., LTD.

+13.8%

8.1%

35.1%

FY2023 2Q
ActualYoY

FY2024 2Q
Plan

FY2024 2Q
ActualFY2023 2Q
ActualFY2024 2Q
Plan

FY2024 2Q
ActualFY2023 2Q
Actual

13,209FY2024 2Q
Actual10

Information and Telecommunications Business Using a scrap-and-build approach for the mobile stores to improve efficiency amid the significant changes in Japan’s mobile phone shop sector.
 Both sales and profit increased, and exceeded the plan, by taking advantage of the rush demand caused by the revision of the law at the end of 2023.
 We have been strengthening corporate sales teams in mobile phone shops by leveraging the existing strengths in the corporate solutions sector,
resulting in more sales and installations of LED-related products.

Segment profit (Million yen)

Net sales (Million yen)
YoY

YoY

+4.5%

+530.8％Against plan

Against plan

+7.8%

4,165

4,038

+153.1％

4,353

97

38
15
FY2023 2Q
Actual© WORLD HOLDINGS CO., LTD.

FY2024 2Q
Plan

FY2024 2Q
ActualFY2023 2Q
ActualFY2024 2Q
Plan

FY2024 2Q
Actual11

Agricultural Park Business Sales and profits increased and were higher than the plan because of mild winter weather with little rain and good weather during Golden Week.
 Another reason for profit growth is higher customer satisfaction following major upgrades of existing facilities during 2023.
 New projects starting in April: Saitama City Urban Park Group 8 and 10, Hyogo Prefectural Awaji Cultural Hall, Kobe Port Waterfront Area (Meriken
Park - Harborland Square), and Rinrin Port Tsuchiura started smoothly.

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

YoY

+39.4%+13.6%FY2024+74.2%+11.8%

2,437

FY2023

Against plan

Against plan

2,398

Number of visitors (Ten thousand)

171

2,724
122
98

FY2023 2Q
Actual© WORLD HOLDINGS CO., LTD.

FY2024 2Q
Plan

FY2024 2Q
ActualFY2023 2Q
ActualFY2024 2Q
Plan

FY2024 2Q
ActualJan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec.

12

02

Outlook for the Term Ending
December 2024

P.14

Manufacturing Human Resources Business

P.17

Services Human Resources Business

P.21

Real Estate Business

P.25

FY2024 Outlook

P.26

Outlook by Business Segment

P.27

2022-2024 Quarterly Performance and Forecasts

P.28

Shareholder Distributions

P.13© WORLD HOLDINGS CO., LTD.

13

Manufacturing Human Resources Business Forecast sales up 10.8% to ¥112.1 billion and operating profit up 15.5% to ¥4.2 billion.due to the expected recovery of the semiconductor
industry in the second half of 2024.
 Strengthen our investment in human resources to develop semiconductor-related personnel for the expected recovery and the futher growth of
the semiconductor industry.
Segment profit (Million yen)

Net sales (Million yen)
YoY

R&D
Technology

YoY

10.8%

15.5%

112,144

4,247

Manufacturing

101,246

3,679

10.3%

2H

20.7%

2H

53,081
69.0%

11.1%
21.0%

1,167

67.9%
FY2023
Actual© WORLD HOLDINGS CO., LTD.

FY2024 2Q
ActualFY2024Plan

FY2023
ActualFY2024 2Q
ActualFY2024Plan

14

Manufacturing Human Resources Business We expect higher profit in the second half profits due to the expected recovery of the semiconductor and semiconductor manufacturing
equipment sectors and the end of one-time costs that occurred during the first half.
Operating Profit in the Manufacturing HR (Billion yen)

Semiconductor and Machinery Sector Sales (FY2023 1H = 100)
Smartphone semiconductor slowdown
120

Generative AI and higher
HEV/EV production30
3.0

Operating profit

One-time cost

FY2023 2H

FY2024 1H

20
2.0

100
80

4.0
40

10
1.0
FY2023 1H

FY2023 2H

FY2024 1H

FY2024 2H
Plan

0

FY2023 1H

FY2024 2H…

Change in Manufacturing Human Resources Business semiconductor/machinery sales (FY2023 1H = 100)

FY2024 1H

Sales

Profits• Delay in the semiconductor recovery, mainly memory devices• Softness also in the machinery sector (machine tools,
semiconductor manufacturing equipment, etc.)• Some factories suspended production due to parts shortages
caused by the Noto Peninsula Earthquake• In the automobile sector, suspensions of production of somemodels reduced sales• Higher expenses for shifting people from weak to strong industries• Expenses for employee housing contract terminations, employee
relocations and other items associated with the end of a large projectOne-time cost: About ¥500 million© WORLD HOLDINGS CO., LTD.

FY2024 2H
Semiconductor sector
recoveryProfit recovery• Increasing capacity utilization for semiconductor
memory devices• Recovery of utilization rates of semiconductor
manufacturing equipment• Start of operations of semiconductor fabs in Kyushu
End of one-time costs
15

Semiconductor Skill Training Programs

 The planned Kumamoto Technical Center in Ozu-machi, Kumamoto Prefecture will provide semiconductor skill training by using the most advanced
semiconductor manufacturing equipment.
 As more semiconductor manufacturers of Japan and other countries are constructing fabs in Kumamoto Prefecture, we will strengthen thedevelopment of semiconductor-related personnel in Kumamoto Prefecture.

Kumamoto Technical Center (artist’s rendering)

Profile of Kumamoto Technical Center
Name

Kumamoto Technical Center

Completion

December 2024 (Plan)

Location

1285-1, Ozu, Ozu-machi, Kikuchi-gun, Kumamoto

Total floor area

544.05㎡ (Light steel frame, 2 stories)

Training capacity

500 people/year● Made a decision to construct the Kumamoto Technical Center in Ozu-machi,
Kumamoto Prefecture to give people skills required in the semiconductor industry.
● Classroom lessons as well as practical training using state-of-the-art equipment
will produce many engineers with maintenance, assembly and assessment skills.
● Some of the training spaces are open not only for our employees but also for our
suppliers' employees, contributing to human resource development in thesemiconductor industry.
● The World Holdings Group has participated in the Kyushu Semiconductor Human
Resources Development Consortium (established by the Kyushu Bureau of
Economy, Trade and Industry and Kyushu Semiconductor & Digital Innovation
Association (SIIQ)) since its inception and will continue to play a role in training
semiconductor personnel and the growth of industries in Kyushu.
© WORLD©
WORLD HOLDINGSHOLDINGSCO.,
CO.,LTD.
LTD.

16

Services Human Resources Business Forecast sales up 39.0% to ¥79.4 billion and operating profit up 22.6% to ¥1.4 billion.
 Forecast second half sales and profit growth by consistently using seasonal changes in logistics, face-to-face sales personnel staffing and other categories as opportunities to capture new orders.
 Yamato Staff Supply, which joined the World Holdings Group in September 2023, made a full-year contribution to the performance.
 Expect steady progress of launching new businesses, including HR Support, by using expertise in labor management and operations acquired from
distribution warehouse subcontracting operations.

Segment profit (Million yen)

Net sales (Million yen)
Tourism/businessprocess outsourcing
Face-to-face sales
personnel staffing
Logistics

YoY

YoY

39.0%

22.6%

79,456

1,462
1,193

57,157
9.5%
20.6%

2H

2H

36,987
545

5.6%
16.3%
70.0%

FY2023
Actual© WORLD HOLDINGS CO., LTD.

78.1%

FY2024 2Q
ActualFY2024Plan

FY2023
ActualFY2024 2Q
ActualFY2024Plan

17

Services Human Resources Business In the logistics and face-to-face sales personnel staffing categories, we aim to target seasonal demand, such as during the year-end peak sales
period in the second half, to receive new orders.
 Planning on higher sales and profits because of the first full-year inclusion of the recently consolidated Yamamoto Staff Supply and the expansion of
the temporary staffing order and management services developed in the business alliance with Yamato Holdings.
 In the second half, we have a slightly cautious outlook on profits due to new developments such as rented warehouses that we operate by ourselves.

Net sales in the Services HR (Billion yen)

45.0
450
40.0
400

Operating profit in the Services HR (Billion yen)

Tourism/business process outsourcing
Face-to-face sales personnel staffing

12
1.2

Logistics

Recovery of direct
customer services
following end of
pandemic

Higher profits due to consolidation of Yamamoto Staff Supply
Growth of the temporary staffing order management service

Year-end peak sales season

10
1.0

35.0
350
30.0
300

8
0.8

250
25.0
0.6
6

20.0
200
150
15.0

4
0.4

100
10.0

0.2
2

50
5.0
0

FY2023 1H© WORLD HOLDINGS CO., LTD.

FY2023 2H

FY2024 1H

FY2024 2H
Plan

0

FY2023 1H

FY2023 2H

FY2024 1H

FY2024 2H
Plan

18

Horizontal development of know-how
 The goal is further growth by using the horizontal expansion of know-how acquired in the logistics sector involving the full warehouse operation
subcontracting and labor management.
Logistics- Subcontracted Distribution Warehouse Operations
Operational expertise

Labor management expertise• Able to recruit many types of people• Skill for using people in many types
of workplaces• An effective education system

Use at othercompanies/otherindustries

Horizontal expansion tologistics
Expansion to new businesssectors• Skill for placing the right people in the rightpositions• Immediate full start-up and full shut-down
capability➡ Expertise for moving people to different
assignments

Alliances with othercompanies

Use of the consortium model

Subcontracting/outsourcing expertise in the manufacturing sector

HR Tech• Development and use of a spot work
app for a framework that allows flexible
hiring activities• Development of an order
receipt/placement system for staffing
companies for the digitaltransformation of consortiums© WORLD HOLDINGS CO., LTD.

Use ofknow-how

Customers
WORLD HOLDINGS performs outsourced tasks
WORLD STAFFING CO., LTD

Alliance with Yamato Holdings

HR Support

Human resources Human resources Human resources Human resources
company
company
company
companyAa b c dBCa b c da b c dDa b c d19

Evolved Form of Full Warehouse Operation Subcontracting
 For further expansion of logistics sector, we have rented the third and fourth floors of a logistics warehouse in Ogori City, Fukuoka Prefecture.
 By full warehouse operation subcontracting in the warehouses we operate, we will seek to further expand businesses with existing customers and to
take full subcontracting from new customers and different industries.

Fukuoka Ogori Warehouse

Full warehouse operation subcontracting for expansion to different
business sectors
Subcontracted distribution
warehouse operations• Operational expertise• Labor management expertise• Consortium model
Warehouse operated by World
Holdings© WORLD HOLDINGS CO., LTD.

• Larger volume of outsourced
service orders from current
customers

Name

Fukuoka Ogori Warehouse

Start

September 2024

• Opportunities for business withother companies and otherindustries

Location923-12, Ogori, Fukuoka

Site area

12,254 tsubo(3rd and 4th floors of a
4-story building)20Real Estate Business Retaining a cautious stance in the second half because of the risk created by high real estate prices. Purchasing and selling properties with the best
timing while receiving income from leasing properties.
 The delivery plan of properties for this year will be concentrated in the second half (especially in the fourth quarter), while contracts have progressedsmoothly.
Major condominium projects to be completed in 2024: Residential Ojikamiya (Tokyo), ASUTO RESIDENTIAL THE TOWER (joint venture with
Nomura Real Estate Development Co., Ltd.) (Miyagi), Residential Midosuji Abiko (Osaka) / Office buildings: BIZIA KOKURA (Fukuoka), etc.

Net sales (Million yen)Segment profit (Million yen)Prefabricated houserelated
Renovation-related

Real estate for sale (Million yen)
YoY

YoY

-37.2%+11.0%Developer-related

47,64642,906

4,590
62,263

6.8%
28.4%

64.8%

52,3352H

13,6348.1%
46.8%© WORLD HOLDINGS CO., LTD.

FY2024 2Q
ActualYoY

7.1%

66,6742,884

2H

53,464

308
9,928

45.2%
FY2023
ActualReal estate for sale in process
Real estate for sale

FY2024Plan

FY2023
ActualFY2024 2Q
ActualFY2024Plan

FY2023
Actual

13,209FY2024Plan

21

Purchasing Skills and Thorough Risk Management
 Retaining a conservative outlook regarding risk management
 Converted some real estate for sale into rental properties as we wait for the proper timing to sell these properties

Strength in land development

Land
development
expertise

Thorough Risk Management

Prudent management of operations forminimizing risk and achieving
sustainable growth

Development starting byidentifying sites with potential

Sell properties with the best possible timing(record-high operating profit in 2023)
Real estate
M&A
Synergy with HR
education© WORLD HOLDINGS CO., LTD.

Use of real estate bycollecting receivables
Collection company
in the WORLDHOLDINGS Group

Lease some real estate for sale to generatecurrent income while waiting for the best possible
timing to sell these properties(Aiming for a strategic increase in recurring revenue in
addition to property sales)

Contracts have been signed for most properties
that are to be sold during 2024
22

Sustainable Growth Due to Thorough Risk Management This business is using prudent management of operations for sustainable growth while minimizing risk exposure.
 Purchasing carefully selected high-quality properties while retaining a cautious stance about real estate acquisitions; managing operations with emphasison high inventory turnover Leasing a part of properties purchased in prior years and continuing strategic acquisition of properties for the real estate sales business that are currentlyleased to tenants in order to wait for the best possible timing for sale.

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

Net sales and segment profit (Billion yen)
Net sales

Inventories
of real estate for sale/real estate for sale in process
販売用・仕掛販売用不動産在庫

Segment profit

販売・仕掛販売用不動産（賃貸）Real estate for sale/real estate for sale in process (Rental properties)
在庫回転率（除く賃貸）（回）Inventory
turnover (excluding rental properties) (times)

48.0

42.9
36.9

47.6

1.2

1.3

1.1

38.0
49.6
4.5

3.5

FY20202.9

3.1

FY2021

FY2022

FY2023

27.8

2.3

27.9

FY2024Plan

FY2020

35.0

13.9

35.0

35.7

FY2021

FY2022

1.2

1.1

62.2

63.5

19.0

20.3

43.2

43.2

FY2023

FY20242Q

Inventory turnover = Real Estate Business sales / Real estate for sale and real estate for sale in process (excluding rental properties) at the end of the previous year
© WORLD HOLDINGS CO., LTD.

23

BIZIA KOKURA completed
 WORLD HOLDINGS constructed an office building in Kokurakita-ku, Kitakyushu City in cooperation with the city, which will contribute for therevitalization of the surrounding area. A completion ceremony was held on July 23 and the grand opening is planned in October.
 The first project for creating a new neighborhood that leads to the realization of the “SDGs Future City” concept of the city of Kitakyushu.
The BIZIA Kokura building completed in July 2024
Exterior view

Completion Ceremony(July 23, 2024)

From left, Mayor of Kitakyushu City Takeuchi
World Holdings Chairman Iida
Mikuni Corporation Chairman Yamada

Communication Floor© WORLD HOLDINGS CO., LTD.

Contributing to revitalization of the city of Kitakyushu● The 13-story building has 9,854㎡ of floor area, making it the largest
office building developed by the World Holdings Group.
● The first project of the Kokura Kurosaki Rebitation (Rebuild +Invitation) redevelopment concept of the city of Kitakyushu for the JR
Kokura Station area and other areas. The goal is to attract IT
companies and other suitable tenants and to create a neighborhoodthat can be part of a city of the future that helps accomplish the
Sustainable Development Goals.
● The name BIZIA expresses the building’s role as “a place forbusiness” and “a place where people gather.” The first level has apublic open space for events to emphasize coexistence with the local
community, and the second level has a communication area for thetenants. The plan is to have office floors occupied by IT companies
and other suitable tenants that contribute to revitalization of the cityof Kitakyushu.
● Several companies, including IBM Japan, have already decided to
become tenants, and further preparations are underway for the
grand opening in October.
● The Real Estate Business is dedicated to participating in many
regional revitalization projects, including condominium developments,that result in progress for the areas where projects are located andthe growth of this business.
24

FY2024 Outlook
 Although the first-half result exceeded the plan,the full-year outlook remains unchanged from the initial plan, as we plan to strengthen recruitment
investments in Manufacturing HR in the second half.
 Forecast higher sales and profits based on factors including the outlook for semiconductor sectors recovery starting in the second half and the firstfull-year inclusion of Yamato Staff Supply’s performance in Human Resources and Education.
 Forecast lower profits primarily due to a reactionary decline related to the real estate sales that had been completed ahead of schedule in 2023.

(Million yen)

Actual for the term
ended Dec. 2023

Plan for the term
ending Dec. 2024

YoY
ChangePct. change

Net sales

213,742

252,085

38,343

17.9%

Operating profit

10,365

9,003-1,361-13.1%

Ordinary profit

10,251

8,622-1,628-15.9%

6,204

4,738

-1,466-23.6%EBITDA

12,146

11,087-1,059-8.7%

Net income per share (Yen)353.61

269.64-83.97-23.7%

Dividend per share (Yen)

106.0080.90-25.10-23.7%

Profit attributable to owners of parent© WORLD HOLDINGS CO., LTD.

25

Outlook by Business Segment
Actual for the term
ended Dec. 2023

(Million yen)

Human Resources
and Education
Business
Manufacturing Human
Resources Business

Services Human
Resources BusinessNet sales
Segment profit
Profit margin
Net sales
Segment profit
Profit margin
Net sales
Segment profit
Profit margin
Net sales

Real Estate Business

Segment profit
Profit margin

Information andTelecommunications
Business
Agricultural
Park BusinessNet sales
Segment profit
Profit margin
Net sales
Segment profit
Profit margin
Net sales

Total

Elimination or corporate
Operating profit
Profit margin© WORLD HOLDINGS CO., LTD.

158,403
4,872
3.1%
101,246
3,679
3.6%
57,1571,193
2.1%
42,906
4,590
10.7%
7,710
4
0.1%
4,721
101
2.2%
213,742796
10,365
4.8%

Plan for the term ending
Dec. 2024

191,601
5,710
3.0%
112,144
4,247
3.8%
79,4561,462
1.8%
47,646
2,884
6.1%
7,976
81
1.0%
4,861
160
3.3%
252,085
166
9,003
3.6%

YoY
ChangePct. change

33,197
838

21.0%
17.2%

10,898

10.8%

568

15.5%

22,299
269

39.0%
22.6％

4,739
-1,70511.0%-37.2%

265
76

3.4%
-

140
59

3.0%
58.0%

38,343-629-1,361

17.9%-79.1％-13.1%
26

2022-2024 Quarterly Performance and Forecasts▍Net Sales and Operating Profit (Million yen)
Agricultural Park

250,000
200,000

Human Resources andEducation
Operating profit

Net sales

300,000

Information andTelecommunications
Real Estate

FY2022
Net sales:

FY2023

FY2024 Forecast

252,085 million

213,742 million

Net sales: ¥Net sales: ¥¥183,640 million(+18.7% YoY)

12,000(+17.9% YoY)(+16.4% YoY)

10,0008,000

150,000

6,000

100,000

4,000

50,0002,000

02022/Q4
FY2022
Full year

2023/Q1
FY2023
1Q

2023/Q2
FY20231H

64,386

88,59823,45047,946

74,130101,246

25,65853,08180,411

112,144

20,651

31,33044,282

10,484

21,42435,58057,15718,45636,98757,42979,456

29,11361,85595,716

132,880

33,934

69,370109,711

158,403

44,11490,068137,840

191,600

8,735

17,551

26,88938,044

7,027

14,52631,85942,906

7,768

13,66923,48047,646

2,157

4,594

6,476

8,399

1,948

4,165

5,856

7,710

2,018

4,373

5,960

7,976

704

2,207

3,264

4,314

813

2,398

3,549

4,721

919

2,713

3,689

4,861

40,711

86,208132,346

183,640

43,72490,461150,976

213,742

54,821

110,825

170,970

252,085

Manufacturing HR

887

1,901

3,206

4,054

918

1,650

2,728

3,679

248

1,167

2,102

4,247

Services HR

392

695

880

1,125

14

156

425

1,193

118

546

683

1,462

1,280

2,597

4,087

5,179

932

1,807

3,153

4,872

367

1,714

2,785

5,709

-57

1,587

2,078

3,181

906

1,264

3,841

4,590

491

309

-192

2,884

-37

76

53

125

-69

15

-19

4

-42

103

50

81

Agricultural Park

-89

184

145

158

-117

122

100

101

-114

171

134

160

Operating profit

1,214

4,629

6,621

8,929

1,934

3,685

7,769

10,365

636

2,350

2,778
(Forecast)

9,003

Manufacturing HR
Services HR
Net sales

Human Resources
and Education
Real Estate
Information andTelecommunications
Agricultural Park
Total

Segment profit

Human Resources
and Education
Real Estate
Information andTelecommunications© WORLD HOLDINGS CO., LTD.

2022/Q1
FY2022
1Q

2022/Q2
FY2022
1H

19,93841,2039,174

2022/Q3
FY2022First nine months

2023/Q3
2023/Q4
FY2023
FY2023Full year
First nine months

2024/Q1
FY2024
1Q

2024/Q2
FY20241H

2024/Q3
202/Q4FY2024FY2024
Full year
First nine months

027

Shareholder Distributions
 The basic policy for profit distributions is to distribute profits in a manner that reflects results of operations while retaining sufficient profits 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.
 The FY2024 dividend forecast is ¥80.9 based on the forecast for a temporary decline in profits caused by a cautious stance involving real estate
operations.

106.0

101.7
75.3

82.7

91.5

83.0

80.9 yen

79.5

52.7

45.7
23.7

FY2014© WORLD HOLDINGS CO., LTD.

FY2015FY2016FY2017FY2018FY2019FY2020

FY2021

FY2022

FY2023

FY2024(Forecast)28

P.30 Financial Condition B/S
P.31 Cash Flows03

P.32 The Purpose of the WORLDHOLDINGS Group
P.34 Sustainability Initiatives
P.35 History
P.36 Main Group Companies
P.37 Business Portfolio

Appendix

P.39 Human Resources and Education BusinessP.44 Real Estate BusinessP.45 Information and Telecommunications BusinessP.46 Agricultural Park BusinessP.47 Business Performance Trend

P.29© WORLD HOLDINGS CO., LTD.

P.48 Medium-term Management Plan
P.49 Actions for Management with Priority on the Costof Capital and Stock Price
P.50 Inquiries
29

Financial Condition B/S Total assets increased mainly due to increase of a ¥ 4.4 billion increase in real estate for sale. A portion of the real estate was leased in order to wait
for optimal sales timing.
 On the other hand, interest-bearing debt increased ¥4.6 billion in line with the increase in the real estate for sale.
 Equity ratio was 24.8%, down 0.5 points from the end of the previous period.

End of Q2 2024

End of December 2023
Total assets

Current assets

133,944¥

million

159,204 million¥

Liabilities

116,278¥

millionInterest-bearing
debt
有利子負債

Real estate
for sale¥78,777
55,948
百万円¥62,264
販売用不動産

millionmillion49,605百万円

Non-current assets¥25,260 million
15,333
百万円© WORLD HOLDINGS CO., LTD.

(+1,760 million)

Liabilities

Current assets

119,503¥

137,508¥

million

Real estate
for salemillionInterest-bearing
debt¥66,674¥83,402
millionmillion

純資産
Net assets

固定資産160,964 million

Total assets ¥37,195
百万円¥42,926
millionNon-current
assets¥25,139 million*Real estate for sale is the sum of real estate for sale and real estate for sale in process.

Net assets¥43,114 million

Major Components
Current assets(Million yen)

Cash and deposits

40,848→ 41,377

Notes and accounts
receivable-trade25,148→ 23,667

Real estate for sale62,264→ 66,674

Property, plant andequipment

9,714

→

9,640

Goodwill

9,210

→

8,669

78,777→ 83,402

Non-current assets

Liabilities
Interest-bearing debt

30

Cash Flows Net income and loans were the main sources of funds for purchases of real estate for sale, real estate for sale in process and properties, plants
and equipments, and other activities.
 Negative operating cash flows because of an increase in real estate for sale and real estate for sale in process.
 Negative investing cash flows resulting from purchase of property, plant and equipment, etc.
 Positive financing cash flows because of short-term borrowings.

Summary of FY2023 cash flows(Million yen)

Cash flows from operating activities

Increase in real estate for sale

2,381
1,043
-4,409

Increase in trade receivables

1,509

Profit before income taxes-2,354

Cash and cash equivalents
at end of period

Cash and cash equivalents
at beginning of period© WORLD HOLDINGS CO., LTD.

Depreciation/Amortization of goodwill-829

Cash and cash equivalents at end of period
Up ¥425 million(Million yen)

Cash flows from investing activities
Purchase of property, plant and equipment-354

Net decrease in lease and guarantee deposits-245

Cash flows from financing activities
Net increase in short-term borrowings

5,590

Proceeds from long-term borrowings

5,144

Repayments of long-term borrowings-6,115

Dividends paid

-1,862
31

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.,CO., LTD.

32

The Four Key Elements of WORLD HOLDINGS and its Stability
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
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.
Information andTelecommunications© WORLD HOLDINGS CO., LTD.

The
Ways
We Live

Real Estate

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.

Agricultural Park

33

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.

AgriculturalPark 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 andconserve the earth’s resources while giving children a place
where they can grow. By operating these parks, we areplaying a role in sustainable 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

34

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-4.1
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

35© WORLD HOLDINGS CO., LTD.

Establishment

Real Estate

1986

6.8
1985

-5.7
*The graph is Japan’s GDP.

1.0
0.4
1.0

2022
2017
2014

2016
2010
2005
1993
1981

Main Group Companies
51 affiliated companies
Human Resources
and Education Business
人材教育ビジネス
Manufacturing Human
Resources Business

Services Human
Resources BusinessWORLD INTEC CO., LTD.
Human resources services(Manufacturing/ Technology/ R&D)

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

Outsourced software development

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

Human resources services (Materials)
WORLD INTEC TAIWAN CO., LTD.

Creative Inc.

Human resources services (Taiwan)

Human resources services(Manufacturing/ Plant)WORLD INTEC SHANGHAI CO., LTD.
Human resources services (China)(Non-consolidated)

Nippon Gijutsu Center Co., Ltd.
Human resources services(Technology services outsourcing
service/ Temporary staffing for
manufacturing)

Human resources services (China)WORLD INTEC AMERICA, INC.
Human resources services (U.S.)

Design and development ofindustrial machinery

Sankin Kaihatsu

WORLD GLOBAL SUPPORT CO., LTD.

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

Development (Kanto)

E-SUPPORT, INC.
Comprehensive real estate business

Operation of call centers and stores

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(Face-to-face sales personnel staffing)WORLD RESIDENTIAL KANSAI CO., LTD.

M'S WORLD CO., LTD.

WORLD STYLE CO., LTD.

Development (Kansai)

Renovation (Hokkaido)

Operation of mobile phone stores(au)

Yamato Staff Supply Co., Ltd.
Human resources services(Logistics/ Educational training)
Dimples’ Realty Staff Co., Ltd.
Human resources services
for the real estate industry(Non-consolidated)

Nichimo Real Estate Co, Ltd.
Real estate consulting

Agricultural Park BusinessWORLD INTEC CO., LTD.
Management and operation ofagricultural parks

CROWDWEIGHT CO.,LTD.
Management and operationof agricultural parks

Best IT Business Co., Ltd.
Corporate solutions

WORLD LIFE PARTNER CO., LTD.
Rental property, condominium andbuilding management
WORLD DEVELOPMENT INDONESIA
Development (Indonesia) (Non-consolidated)

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

Human resources services(Materials)

OMACHI WORLD Co., Ltd.
Manufacture/sale/rental of prefabricatedhousesWorld Share Selling Co., Ltd.
Sales of prefabricated house/ Geotechnical survey (Non-consolidated)
RC RESIDENTIAL WORLD Co., Ltd.
Sales of detached houses (Hokkaido) (Non-consolidated)

DOT WORLD Co., Ltd.
Clinical research (CRO)

金融関連
FinanceBusinessWORLD RETECHWORLD 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© WORLD HOLDINGS CO., LTD.

WORLD RESIDENTIAL CO., LTD.

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

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

WORLD SYSTEM SERVICE CO., LTD.
Outsourced software development

Information and
情報通信ビジネス
Telecommunications Business

Real不動産ビジネス
Estate Business

Real estate fund management (Act on Specified Joint Real Estate Ventures)
Mirai Servicing Co, Ltd.

■ Human Resources and Education Business
Manufacturing HR: 18 companies; Services HR: 6 companies

Collection of receivables (Non-consolidated)■ Real Estate Business: 16 companies■ Information andTelecommunications
Business:
４ companies■ Agricultural Park Business:
7 companies

36

Business Portfolio

Create a Sustainable World.

Use a well-balanced business portfolio for rapid growth andactivities that help create a sustainable world
Human Resources and Education
Business

4% 2%

Manufacturing Human Resources Business
Manufacturing domain
R&D, design/development, manufacturing andafter-sales service
This business provides services concerning humanresources for all manufacturing processes fromupstream to downstream. Client companies, mainly
major multinational manufacturers, are in thesemiconductor,
electric/electronic
components,
automobile, machinery, IT systems, pharmaceutical,
biotechnology, chemicals and many other industries.
Companies can rely on this business for subcontracting,temporary staffing, HR consulting and other services
involving R&D, product design/development, production,
repairs and all other processes involving manufacturing.

Net sales
Operatingprofit1%
20%

Net sales48%¥213.7 billion(external pie chart)

Operating¥10.3 billion
profit(internal pie chart)

51%

FY2023Service domain
Logistics, face-to-face sales and tourism

This business provides services concerning humanresources for companies in the service sector. Core
strengths are services involving logistics, tourism andface-to-face sales. Operations include distribution
warehouses for major e-commerce companies, andface-to-face sales at department stores and highvolume retailers as well as for tourism operations suchas hotels and sightseeing locations. Companies use
this business for subcontracting business tasks,
temporary staffing, HR consulting and other services.
© WORLD HOLDINGS CO., LTD.

Human Resources and Education

Real Estate

Information and Telecommunications

Agricultural Park

Diversificationof business

Decentralization

One-timerevenuebusiness

Development and renovation

The main activities of this business are real estatedevelopment, renovations, brokerage, rental management,
the production, sale and rental of prefabricated houses, andother operations.
As a developer for midsize family-type condominiums, its
activities are deeply rooted in each area where thisbusiness operates: Tokyo, Tohoku, Kinki and Kyushu.
Renovation operations cover all areas of Japan.

Information and Telecommunications
Business
Operation of mobile phone stores

74%

Services Human Resources Business

Real Estate Business

Recurring
revenuebusiness

Mobile phone stores are the main operation of this business,
which operates 30 SoftBank, au and other shops in northern
Kyushu, primarily Fukuoka. Operations also include cost
reduction solutions for companies and other services.

Agricultural Park Business
Operation and management ofAgricultural Parks

This business manages 21 agricultural and other parks andfacilities in Japan. The four locations that are directly
operated give visitors the opportunity to interact with natureand learn about the local culture too. This business uses
knowledge acquired from managing these parks to manage
17 urban parks, hot springs and other public-sector facilities.
37

Human Resources and Education BusinessBusiness process outsourcing and staffing services thatseamlessly cover a broad range of business domains
Labor management is a key strength

Manufacturing domain

Service domain

Manufacturing 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© WORLD HOLDINGS CO., LTD.

About

Tourism

Logistics

Tourismindustry

E-commerce

Face-to-facesalesHigh-volumeretailers
Department
stores

A strategically targeted approachfor rapid growth in the services
domain51,000 workers in service*As of the end of Q2 2024

38

Training Programs Continue upgrading and expanding leadership, technology and other training programs and provide support for employees to advance their careers orchange career paths.
 Establish a nationwide network of 11 training centers for upgrading technological skills of employees.
 In the semiconductor sector, a major strength of WORLD HOLDINGS, a Technical Center will open in Ozu, Kumamoto Prefecture in 2024 to prepare forthe expected growth of subcontracting/outsourcing contracts. Increasing the number of skilled semiconductor workers is a priority.

Training locations

Upgrade leader training and technology training• Training centers in 11 locations nationwide• Employee training programs and on-the-job
training at subcontracting/outsourcing clientcompanies• 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 trainingetc.

• R＆D sector (Pharmaceutical analysis training)(Kyoto) Uji Campus, Kyoto University(Osaka)Turnkey Lab KENTO(Semiconductor/electronic component/automobile)(Hiroshima) Hiroshima Technical Center

8,300© WORLD HOLDINGS CO., LTD.

• R＆D sector (Organoid culture training)• Technology sector(Mechanical design/SE/quality management)(Kanagawa) Techno East Japan Training
Center• Technology sector(Mechanical design/SE/quality management)

3,569(Aichi) Techno West Japan Training Center• Manufacturing sector• Manufacturing sector

FY2020(Saitama) Kumagaya Training Center(Chiba) Chiba Cancer Center

5,379

FY2019• Manufacturing sector (Automobile)• Manufacturing sector

7,195

2,561

pharmaceutical analysis training)(Tokyo) Minami-Osawa Campus, Tokyo
Metropolitan University• R＆D sector (Cell culture basic training)

Participants in Training Programs (Persons)

2,832• R＆D sector (Bio-informatics training/

FY2021

FY2022

FY2023

FY2024
Plan(Semiconductor/electronic component/automobile)(Kumamoto) Kumamoto Technical Center*Scheduled to be opened in 2024

(Semiconductor/electronic component/automobile)(Aichi) Nagoya Technical Center• Manufacturing sector (Semiconductor/electronic component)(Mie) Yokkaichi Technical Center

39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.

40

Use of the Consortium Model Customers outsource tasks to WORLD HOLDINGS, which then performs work jointly with local human resources companies and by collaborating withpartner companies of client companies.
 Horizontal utilization of knowhow in the logistics sector at JW SOLUTION, TOHO WORK and other companies(Example)

Collaboration with local human resources companies

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

WORLD STAFFING CO., LTD (logistics sector)

Customers
WORLD HOLDINGS Performs outsourced tasks
WORLD STAFFING CO., LTD

Labor management
WORLD STAFFING CO., LTD

Human resources
company

Human resources
company

Human resources
company

Human resources
company

a

a

a

a

A

© WORLD HOLDINGS CO., LTD.

b

c

d

B

b

c

d

C

b

c

d

D

b

c

d

41

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 and dealing withthe labor shortage

Assist with passing on basic materials technologies andskills to younger people and with progress in this industry

Toho Titanium

Outsourcing and temporary staffing services for hotels, tourism
destinations, venues for large events and other locations

Handling outsourced manufacturing and other activities through thecentralization of the external resources of Toho Titanium

Assistance concerning the shortage offace-to-face salespeople
MITSUI MINING &SMELTING CO.,LTD.
Dimples’ Co., Ltd.
Relationships with more than 7,500 companies involving face-to-face retail
operations, the provision of information and other sales activities© WORLD HOLDINGS CO., LTD.

Sankin Kaihatsu

Started a new business by purchasing the majority of the equity of
Sankin Kaihatsu, which was previously a wholly owned subsidiary of
Mitsui Mining & Smelting42Collaboration with Prominent Companies (2) Established a strategic business alliance with Yamato Holdings Co., Ltd.
 Yamato Staff Supply joins the WORLD HOLDINGS Group

Strategic Business
Alliance

YAMATOHOLDINGSYAMATOSTAFF SUPPLY

Leader in “last-mile”
deliveries

Temporary staffing
mainly for Yamato
Transport

The Next Steps

YAMATOHOLDINGSYAMATOSTAFF SUPPLY

Leader in outsourced
operations for
distribution
warehouses

Support for optimization of logistics operations

Establishment of a dynamic HR portfolio

 Optimization of use of human resources by performing the management

 Use of outsourced distribution warehouse operation knowhow to raise theof temporary staffing orders for Yamato Transport
 Opportunities for Yamato Staff Supply personnel to work in new fields
and receive reskilling training Support for second careers for postal service personnel of Yamato
Transport© WORLD HOLDINGS CO., LTD.

productivity of warehouse tasks
 Placement of people in the most suitable jobs by using the visualization of
the movements of personnel and of equipment and shipments
 Horizontal expansion of outsourced distribution warehouse tasks for a
dynamic HR portfolio that can contribute to sustainable growth of thelogistics industry
43Real Estate Business
Building an infrastructure able to adapt to any change in the business 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.

44

Information and Telecommunications Business
Mobile phone shop

Growing with Communities

The largest network of stores in Kyushu

Supporting local safety and security through our business

Mobile phone shops in Fukuoka, Saga, Oita and Nagasaki Prefectures

By providing a wide range of products and opportunities, we aim to become
indispensable bases for local life.

Softbank Shops
Solvingproblems
for local
companies

au Shops
Repair Shops

30

Fukuoka
Saga

Oita

Nagasaki• Energy Solutions• DX Support• Various Solution Proposals

stores

As of 2Q 2023

Starting from themobile shop
MOBILE SHOP

Corporate Solutions￭ Total cost reduction solution￭ Call CenterW e offer cost reduction proposals fore l e c t r i c i t y, c o m m u n i c a t i o n , e t c . t o c o r p o r a t i o n sthrough the sale of various products.

We handle a wide range of services fromsales marketing to customer support.

© WORLD HOLDINGS CO., LTD.

For children• Drone classes

Supporting
the healthy
developme
nt ofchildrenarea• Programming classes• Local environmental conservation activities

Eliminating
the digital
divideFor seniors• Visiting classes at
local community
centers etc.
45

Agricultural Park Business WORLD HOLDINGS plans to increase profits of managed facilities by utilizing revitalization and profitability know-how acquired at the four directly managed facilities inthe designated management business.
 Operating more facilities as the designated manager for the owners will create win-win relationships with local governments and other organizations that own thesefacilities. This will also enable WORLD HOLDINGS to help invigorate regional economies and create jobs.
 Received contracts as the designated manager or other position at five agricultural parks in 2023;
operations started in April 2024 at four of these locations.

Revitalization know-how acquired at
4 directly managed facilities
New mindset
for employees•Make facilities more
•Facilities become
attractive
profitable•Treat visitors with sincerity•New attractions and otheractivities•Larger selections of foodand souvenirs

Net sales

4,314

Segment profit

3,639

2,900

3,078

2,754

Operation of a total of 17 facilities, including 4 directly
managed facilities and other entrusted facilities

Deepen regional roots and contribute to
the regional economy and job creation

Investments forprofit growth

Increase invisitors(Million yen)

Operation of nature-rich agriculturalparks, etc. at 21 locations around Japan

4,721

Directly
managed4,861

FY2018

Yodel Forest

Ohashi Kogen International
Exchange Village

101

161

-20

FY2021

Comorebi

Ibaraido Forest

Minokamo Rest Area

FY2023

FY2024

1st and 2nd years

3rd year

4th and 5th years

Improvements tofacilities

Investments

Pandemic

6th year onwards

Consistent profitability

Osaka Prefectural

Directly
managed

Garden of Floral Culture

Okayama Forest Park

German Forest
FY2022

Forecast© WORLD HOLDINGS CO., LTD.

Directly
managedKitakyusyu Municipal
Hibikinada Green Park158

FY2020Rinrin Port Tsuchiura

Niimi Chiya Onsen Ibukinosato-221
FY2019Saitama City Urban Park (Midori-ku)

Kanzaki Farm Park

3,367

117
FY2017

Saitama City Urban Park (Midori-ku)

Ama Site Park

Sougou Nouji Center-396

Under construction (Scheduled to start
operations in spring 2028)

Blumen Hugel Farm

Kitakyusyu Municipal-226(Tentative name) Michi no Eki “Kumagaya”

Shiga Agricultural Park

Hyogo
Prefectural Awaji
Cultural Hall

Directly Sakai Greenery Museum
managedHarvest Hill

Chiba Zoological Park

Fureai Dobutsu-no-Sato
Nagai seaside Park

Soleil Hill

Kobe Port
Waterfront Area
Wakayama Castle
Zoological Park46

Business Performance Trend(Billion yen)
300.0
3000

(Billion yen)

Agricultural Park Business

12.0
12.0

Information and Telecommunications Business2020／12期

213.7

Real Estate Business

250.0
2500

Human Resources and Education Business
Operating profit (right axis)

FY2016FY2020Listed on 1st sectionof TSE

COVID-19 crisis

2000
200.0

7.4

FY2010
Entry into Real EstateBusiness

150.0
1500
FY2008

1000
100.0

500
50.0

FY2006
Entry2006／12期
into Information andTelecommunications
Business
Listed on JASDAQ

46.4

0.9
0
0.0

FY2006

FY2007

5.1
3.7
68.8

1.0
FY20080.3

FY2009

9.0
8.0
8.0

154.7
7.4
136.3

143.5
6.2

6.0
6.0

4.7

94.3

4.0

2.0
2.0

1.2
0.5

0.3
FY2010

183.6
8.9

2.1

37.8

32.1

87.9

10.0
10.0

10.3

56.4

53.0

48.7
29.0

1.3

127.1

Bankruptcy ofLehman Brothers

34.8

7.0

7.3
142.8

252.0

FY2011FY2012FY2013

FY2014FY2015FY2016FY2017FY2018FY2019FY2020

FY2021

FY2022

FY2023

FY2024
Plan

0.0
0.0

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

Medium-termManagement Plan
2010 to 2013

New Medium-termManagement Plan
2012 to 2016

Expansion based on balanced management
New Medium-termManagement Plan
2021

New Medium-termManagement Plan
2026

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

47

Medium-term Management PlanFirst half of the plan was building a sound base,second half is using this base for growth

FY2026 Targets

 During the first two years, growth of the education business andexpansion of subcontracting/outsourcing to more industries alongwith M&A and other activities established a sound base for growth.
 During the last three years, this base will be used for the growth ofsales and profits.

Net sales

Operating profit

Payout ratio

275.0 billion ¥15.0 billion

30%¥(Million yen)

Medium-term Management Plan 2026

(Million yen)
270,000

Agricultural Park Business

17,000

Against initial
plan

Information and Telecommunications Business

15,000Net sales

Real Estate Business+6.2%

Human Resources and Education Business
Operating profit

Operating profit

220,000

13,000+4.5%

11,000170,000
9,000

120,000
7,000

70,000

FY2021(Results)

FY2022(Plan)FY2022(Results)

First year results© WORLD HOLDINGS CO., LTD.

FY2023(Plan)FY2023(Results)

Second year results

FY2024(Medium-termManagement
Plan)

FY2024(Plan)FY2025(Plan)FY2026(Plan)

5,000

48

Actions for Management with Priority on the Cost of Capitaland Stock Price The FY2023 ROE was 16.4%, which is higher than the FY2026 ROE forecast of 16.2%. The plan is to maintain the ROE at this level.
 Regarding PBR, the goal is to earn an even higher PBR by increasing profits while maintaining a high ROE.

Maintain and increase the ROE
Use medium-term management plan goals for net income growth and a high or even higher net
income/sales ratio
Maintain/increase
net income/sales ratio

High or even higher
asset turnover• By achieving the FY2026 operating profit goal of ¥15 billion (50% higher than in FY2023), increase sales and keep the net
income/sales ratio high or even higher Sustainable growth of Manufacturing Human Resources Business by adding more outsourcing clients and further diversifying theindustries of client companies
 Use consortiums and collaboration involving Services Human Resources Business to expand operations to more logistics sectors
and establish a stronger position in the face-to-face sales and tourism categories
 Sustainable growth of the Real Estate Business by carefully managing risk

Use sales growth in the Human Resources and Education Business to increase the overall asset
turnover• Increase company-wide total asset turnover through sales growth in the asset-efficient Human Resources and Education Business• Continue to thoroughly manage risk exposure in the Real Estate Business and manage operations with emphasis on asset turnover

Maintain financial soundness with risk management that includes monitoring the debt/equity ratio
Maintain a soundlevel of financial
leverage© WORLD HOLDINGS CO., LTD.

• Pay a dividend during the medium-term management plan with a 30% payout ratio as the guideline to distribute profits toshareholders while increasing equity• Maintain a sufficient equity ratio for the financial soundness• Base real estate operations on thorough risk management that includes the debt/equity ratio and avoid excessive leverage due to
loans
49

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
Division Manager, Public and Investors Relations Office
Corporate Planning Division, Corporate Strategy Administration Division
WORLD HOLDINGS CO., LTD.
TEL
E-MAILURL© WORLD HOLDINGS CO., LTD.

+81(0)3-3433-6005
irinfo＠world-hd.co.jp
https://www.world-hd.co.jp/

50