Create a Sustainable World.

FY2022 Financial Results
Full Year

February 22, 2023 (Wed.)
WORLD HOLDINGS CO., LTD.
TSE Prime Market (2429)

CONTENTS

I

II

III

Summary of FY2022
Financial Results

Outlook for the TermEnding December 2023

Progress in the Mediumterm Management Plan

P.03

P.12

P.16

IV
Appendix

Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved

V
P.21

About Us

P.27

2

I

P.4 Summary of Financial Results
P.5 Overview of Business Results
P.6 Overview of Business Results by Segment
P.7 Products Human Resources Business
P.8 Services Human Resources Business

P.9 Real Estate BusinessP.10 Information and Telecommunications Business
P.11 Agricultural Park Business

Summary of FY2022
Financial Results

Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved3Summary of Financial Results

Overallsummary

Strong performance in the core
Human Resources and Education
Business drove overall growth

Net sales

Operating profit¥183.6 billion¥8.9 billion+18.7% YoY+19.3% YoY

Net sales

Segment profit

Human
ResourcesandEducation
Business

Strong performance due to the
optimization of a business portfolio¥
driven by precise marketing andother business strategies

Real EstateBusiness

Sales and earnings rose as sales
and deliveries exceeded the initialplan with accurate timing of sales

Information andTelecommunications
Business

Fee income down as majorchanges take place in Japan’s
mobile phone shop sector

Agricultural
Park Business

Sales and earnings rose as visitor
numbers recovered to pre-Covid
levels due to appropriate measurestaken to attract visitors

Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved

132.8 billion¥5.1 billion+26.6% YoY+29.4% YoY

Net sales

Segment profit¥38.0 billion¥3.1 billion+2.9% YoY

+6.8% YoY

Net sales

Segment profit¥8.3 billion¥0.12 billion-10.3% YoY+6.3% YoY

Net sales

Segment profit¥4.3 billion¥0.15 billion+28.1% YoY

- YoY
4

Overview of Business Results◼

Sales and earnings increased year-on-year. Sales, operating profit and ordinary profit reached record levels.
◼ Sales and earnings also surpassed the higher estimates announced in the 2Q 2022.
◼ Steady growth was backed by the benefits of a diverse business portfolio in terms of World Holdings’ businesses
and the industries of client companies.

FY2022
Initialestimate

FY2022
Revisedestimate

FY2022
Actual154,704

168,828

180,000

183,640

3,640

2.0%

28,935

18.7％

Operating profit

7,481

6,244

8,400

8,929

529

6.3%

1,447

19.3%

Ordinary profit

7,738

6,053

8,200

8,933

733

8.9%

1,195

15.4%

Profit attributable toowners of parent

4,626

3,862

4,600

5,341

741

16.1%

715

15.5%

FY2021
Actual(Million yen)

Net sales

Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved

Against revised estimate
ChangePct. change

YoY
ChangePct. change

5Overview of Business Results by Segment
A strong start for the Medium-term Management Plan 2026, far exceeding the goals (initial estimates) for the plan’s first year.
The core Human Resources and Education Business was the primary source of growth because both Products HR andServices HR businesses performed well.
The Real Estate Business significantly exceeded the initial estimate, especially in terms of profit, due to seizing the righttiming for sales.

◼
◼
◼

▍Net sales▍Segment profit

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

YoY(Million yen)

18.7%

180,000

154,704

160,000

3,367

140,000

9,367

120,000

36,977

168,828
3,952

180,000
4,165

19.3%

+

183,640
4,314

8,517

8,399

37,86838,044

9,746

8,400

9,000
8,000

7,481

7,000

118

5,000

104,992

116,691

129,449

132,880

2,977

2,000
1,000

0

0
FY2022
FY2022
Initial estimate Revised estimate

Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved

FY2022
Actual

-1,000

8,929
158
125

2,840

3,181

5,152

5,179

158
227
2,026

3,000

20,000
FY2021
Actual

226
182

6,244

4,000

80,00040,00010,0006,000

38,437100,000

60,000(Million yen)

YoY+

200,000

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

4,000

3,351

-20
FY2021
ActualFY2022
FY2022
Initial estimate Revised estimate

FY2022
Actual6

Human Resources
and Education
Business

Products Human Resources Business◼

Sales and earnings growth despite the pandemic and geopolitical risk because of an optimized business portfolio spanning
multiple industries.
◼ Strong sales of semiconductor-related and FA equipment-related products in addition to new advances into the automotive
sector led to an upturn in business performance.
◼ Enhanced profit by increasing production volume through its strengths of contracting and team dispatching, acquiring largescale projects, shifting to high-unit price projects, and reducing SG&A expenses through digital transformation.

▍Net sales▍Segment profit▍ Temporary placement workforce

YoY

YoY

88,59878,154

23.8％+(Million yen)
100,000

YoY

31.3％

25.4％

+

84,08175,000

10.2％+(Million yen)

(Persons)

5,000

20,000

4,155

1,384
16,000

3,088
12,000

2,590

2,465

2,223

22.4%
2,000

8,000

70.4％

25,00015,190
1,210

3,000

9.6%

18,810

4,054

4,000

19.5％

70,66750,000*3-month average

Manufacturing
Technology
R&D

Manufacturing
Technology
R&D

68.0%

1,000

4,000

0

0

0
FY2021
ActualFY2022 FY2022
Initial
Revisedestimate estimate

FY2022
ActualCopyright © WORLD HOLDINGS CO., LTD. All Rights Reserved

14,835
11,757

FY2021
ActualFY2022 FY2022
Initial
Revisedestimate estimate

FY2022
ActualFY2021
ActualFY2022
Actual7

Human Resources
and Education
Business◼
◼
◼
◼

Services Human Resources BusinessIn the mainstay logistics sector, orders and launches of new bases progressed smoothly.
In the tourism sector, projects in collaboration with the JTB Group made steady progress.
The vertical launch of customer service sales-related projects progressed with the inclusion of Dimple Inc. in the Group.
Special government-related demand in the first half of 2022 contributed to the significant growth.

▍Net sales▍Segment profit▍ Temporary placement workforce*3-month average

Sales directly to customers/tourism
Call centers/light-duty jobs
Logistics

Consortium
Sales directly to customers/tourism
Call centers/light-duty jobs
Logistics

YoY

YoY

29.0％

YoY

23.2％

+

15.6％

+

+

(Million yen)

(Million yen)
50,00044,648 44,282
38,53740,000

1,125

1,200
1,000

25.7％

(Persons)
20,000996

912

16,00017,801
15,4045,908

800
30,00020,00012.8％

34,324583

12,000

6,866

8,000

329
2,221

1,683

5,987

6,234

FY2021
ActualFY2022
Actual

600

5.7%
16.1%

3,977

400
61.5％
10,000

78.2%

4,000

200

0

0
FY2021
ActualFY2022 FY2022
Initial
Revisedestimate estimate

FY2022
ActualCopyright © WORLD HOLDINGS CO., LTD. All Rights Reserved

0
FY2021
ActualFY2022 FY2022
Initial
Revisedestimate estimate

FY2022
Actual8

Real EstateBusiness◼

◼

Real Estate Business

Retaining a cautious stance in this business due to consistently high prices of real estate, but sales and earnings
increased because of more than expected sales and delivery of properties in the development sector by targeting
opportunities for sales at the right timing.
Steady progress with purchasing properties, while monitoring changes in the business climate, by using the corestrengths of real estate M&A and the ability to create commercial properties.

▍Net sales▍Segment profit▍Real estate for sale
Real estate for sale in process
Real estate for sale

Prefabricated house-related
Renovation-related
Developer-related
YoY

YoY

2.9％

6.8％

+

+
(Million yen)

(Million yen)

3,181

3,500

36,977 38,437 37,868 38,044
7.0％

6.4%
30,00041.5％+(Million yen)

40,000

YoY

20.6%

29.0％

3,000

2,977

2,840
40,0002,026

30,000

1,500
73.0%

64.0％

35,050

2,500
2,000

20,00049,60550,00020,00043,09928,8281,000

10,00010,000500
00FY2021
ActualFY2022 FY2022
Initial
Revisedestimate estimate

FY2022
ActualCopyright © WORLD HOLDINGS CO., LTD. All Rights Reserved

6,221

6,506

FY2021
ActualFY2022
Actual0
FY2021
ActualFY2022
Initialestimate

FY2022
Revisedestimate

FY2022
Actual9

Information andTelecommunications
Business

Information and Telecommunications Business◼

Fee income decreased because of lower rates and downward revisions of terms for fees due to mobile phoneplan fee cuts and additions of new plans by all mobile phone carriers.
◼ To receive benefits as one of the surviving mobile phone shop operators, this business is building a network ofcompetitive stores with close ties to the areas they serve and creating a powerful portfolio of businesses.

▍Net sales▍Segment profit(Million yen)

(Million yen)

YoY

-

YoY

10.3％

6.3％

+

12,000250

227
10,000

9,367

9,746
8,517

8,399

200

182

8,000

125

150

118

6,000
100
4,000
50

2,000

0

0

FY2021
ActualFY2022
FY2022
Initial estimate Revised estimate

Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved

FY2022
ActualFY2021
ActualFY2022
FY2022
Initial estimate Revised estimate

FY2022
Actual10Agricultural Park
Business

Agricultural Park Business◼

Returned to profit as visitor numbers recovered to pre-Covid levels.
◼ In addition to the impact of the Covid crisis, the Agricultural Park Business was affected by bad weather, mainly
during holidays, and the soaring price of resources. Nevertheless, sales and earnings both rose as the Groupenhanced its presence by exploiting its great strength as a non-dense outdoor park facility and implemented
appropriate measures to attract visitors.

▍Net sales▍Segment profit▍Number of visiting customers*Total of four direct managed facilities(Million yen)

(Ten thousand)(Million yen)
YoY

YoY

FY2021Returned
to profit

28.1％

+

FY2022

18

4,500

3,952

4,165

4,314

16

226
14

4,000
3,500

250

200

3,367

158

158
150

3,000

12
10

2,500

8

100
2,000

6
1,500

50
4

1,000

2

0

500

-20

0

FY2021
ActualFY2022
Initialestimate

FY2022
Revisedestimate

FY2022
ActualCopyright © WORLD HOLDINGS CO., LTD. All Rights Reserved-50

FY2021
Actual0
FY2022
Initialestimate

FY2022
Revisedestimate

FY2022
ActualJan. Feb. Mar. Apr. May Jun. Jul. Aug.Sep. Oct. Nov.Dec.

11

II
P.13 FY2023 Outlook
P.14 Outlook by Business Segment
P.15 Shareholder Distributions

Outlook for the TermEnding December
2023

Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved

12

FY2023 Outlook◼

The business environment is expected to become more difficult due to the slowdown in the global economy.
We will proceed with formulating a cautious business plan.
◼ Forecast record-high sales and earnings because of activities to achieve stable growth of the core Human
Resources and Education Business and steady progress in sales in the Real Estate Business.

(Million yen)

Actual for the term
ended Dec. 2022

Estimates for the term
ending Dec. 2023

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 ofparent

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

Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved13Outlook by Business Segment◼

In the Human Resources and Education Business, based on a plan that reflects concerns about a possible
slowing of global economic growth, there will be substantial recruiting expenditures to add people with a view tohandling large orders and for more growth of this business. Using the DX to cut SG&A expenses.
◼ The Real Estate Business will retain a cautious stance but sales and earnings growth is expected because ofsales of development projects scheduled for delivery in fiscal 2023.

FY2022(Million yen)

Human Resources
and Education
Business

Net sales

Actual(Profit margin)

5,179

Net sales
Products Human
Resources Business Segment profit

88,598Net sales
Services Human
Resources Business Segment profit

44,282

4,054

1,125

Real EstateBusiness

Net sales

38,044

Segment profit

3,181

Information andTelecommunications
Business

Net sales

8,399

Agricultural
Park BusinessNet sales
Segment profit(3.9%)

5,409(3.8%)

94,732(4.6％)

4,265(4.5%)

49,371(2.5%)

1,144(2.3%)

44,511(8.4%)

3,728(8.4%)

8,074(1.5%)

214(2.7%)

4,664

4,314
158

(Profit margin)(3.7%)

208(4.5%)

ChangePct. change

11,223

8.4%

230

4.4%

6,133

6.9%

211

5.2%

5,089

11.5%

19

1.7％

6,466

17.0%

547

17.2%

-325

-3.9%

88

70.7%

349

8.1%

49

31.4%

183,640

201,354

17,714

9.6%

Elimination or
corporate

284

354

70

24.8％

Operating profit

8,929

987

11.1%

Net sales

Total

125

Estimate

YoY

144,104

132,880

Segment profit

Segment profit

FY2023Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved(4.9%)

9,916(4.9%)

14

Shareholder Distributions◼

The dividend for 2022 was raised by ¥12 to ¥91.5 and the 2023 forecast is a record-high dividend of ¥103.5.
◼ 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 the dividend while using a consolidated payout ratio of
30% as the guideline for dividends.
Up by ¥12
(Yen)

103.5

101.7

91.5

100.0

75.3

80.0

82.7

83.0

60.0

79.5

52.7

45.7
40.0

23.7
20.0

10.0

0.0
FY2013

FY2014FY2015

Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved

FY2016FY2017FY2018FY2019FY2020

FY2021

FY2022

FY2023(Forecast)

15

III
P.17 Medium-term Management Plan
P.18 Progress in the Human Resources andEducation BusinessP.19 Progress in the Real Estate Business

Progress in theP.20 Progress in the Agricultural Park
Business

Medium-termManagement Plan

Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved

16Medium-term Management Plan

A strong first year of the plan◼

Growth backed by a diversified businessportfolio◼

The Human Resources and Education
Business drove overall growth▍2026 Targets
Net sales

OperatingprofitPayout ratio

275.0 billion ¥15.0 billion¥

30%

Results of the first year
Human Resources and Education
Information and Telecommunications
Operating profit

Vs. initial
plan

Real Estate
Agricultural ParkNet sales(Million yen)

8.8％

270,000

17,000Medium-term Management Plan 2026+

Operatingprofit15,00043.0％+

13,000220,000

11,000170,000
9,000
120,000
7,000

70,0005,000
FY2021(Actual)FY2022(Initial plan)

Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved

FY2022(Actual)FY2023(Plan)FY2024(Plan)FY2025(Plan)FY2026(Plan)

17

Progress in the Human Resources and Education Business
Human Resources
and Education
Business

Steady growth of both Products HR and Services HR businesses
FY2023 (forecast)

FY2023 (forecast)

94,732 million yen

49,371 million yen

FY2022

FY2022

88,598 million yen

44,282 million yen

FY2021

FY2021

70,667 million yen

34,324 million yen

Manufacturing
field

Service field
Services Human
Resources Business

Products Human
Resources Business

The goals are to maintain steady growth supported by
the semiconductor and FA equipment sectors, twocore strengths for many years, and portfolio optimizing
using growth in the automotive and other sectors andto differentiate services by using subcontracting andteam dispatching services.

The goals are more horizontal expansion in thelogistics sector, a core strength in the service field,
growth in the tourism and customer service sales
categories following the end of the pandemic, and theconsistent use of HR tech for adding more businessdomains.

Human Resources and Education Business
Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved

FY2023 forecast for pct. of total sales

71.6

%
18

Progress in the Real Estate Business
Real EstateBusiness◼

Using core strengths of real estate M&A and creation of commercial properties while retaining a cautious stance;
aiming for a steady performance by increasing real estate for sale for generating earnings.
◼ Strong sales due to plans for many condominium sales during 2023. (1, 2 and 3)◼ Steady progress with joint community creation projects with public-sector partners. (3 and 4)

Main projects

1.

Condominium

Residential Aoba Hirosegawa (Joint venture with Mitsubishi Estate Residence Co., Ltd.)

2.

Condominium

Residential Hara Branchera (Joint venture with Haseko Real Estate Development, Inc.)

3.

Condominium

4.

Office building

Residential Ikebukuro Honcho (a disaster-prevention block development project to eliminate areas with
dense wooden housing)
BIZIA Kokura (The first project of the Kokura-Kurosaki Rebitation (Rebuild+Invitation) initiative of the cityof Kitakyushu)

Residential Aoba Hirosegawa
Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved

Residential Ikebukuro Honcho

BIZIA Kokura(to be completed in 2024)
19

Progress in the Agricultural Park Business
Agricultural Park
Business◼
◼
◼
◼

Aiming for steady growth supported by the four directly managed parks and an increase in designated managementagreements for agricultural parks
Building a base for consistently high attendance by diversifying locations and the formats used for agricultural parks
Started operation of Ohashi Kogen International Exchange Village in 2022
Will start operating the Osaka Prefectural Garden of Floral Culture in April 2023 as thedesignated manager

Osaka Prefectural Garden of Floral Culture2292-1 Tako, Kawachinagano City, Osaka
With an area of about 10 hectares (almost 25 acres),this garden has a large greenhouse, rose garden,
clematis garden, Christmas rose garden and manyother places to enjoy flowers. There is also a restaurant,
store, a building for exhibits, workshops and otherevents, and a meeting room. Visitors can see a variety
of flowers in all seasons and learn about flowers andother subjects.
Kanzaki Farm Park
Yodel Forest

Minokamo Rest Area
Shiga Agricultural Park
Blumen Hugel Directly
managedFarmComorebi

Directly

Ibaraido Forest managed

Ama Site Park

Chiba Zoological Park

Fureai Dobutsuno-Sato

Niimi Chiya Onsen Ibukinosato
Nagai seaside Park

Soleil Hill

Hibikinada

Green Park
Sakai Greenery Museum
Kitakyusyu Municipal

Sougou Nouji
CenterHarvest Hill

Directly
managed

Wakayama Castle Zoological Park
Ohashi Kogen International
Exchange Village
Okayama Forest Park

German Forest
Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved

Directly
managed20

IV
P.22 Business Performance Trend
P.23 Overview of Business Results by Segment
P.24 Overview of Quarterly Business Results
P.25 Financial Condition B/S

P.26 Cash Flows

Appendix

Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved

21

Business Performance Trend(Billion yen)

201.3

Human Resources and Education Business(Billion yen)
200.0Real Estate Business

183.6

Information and Telecommunications Business

FY2016FY2020Agricultural Park Business

Listed on 1st
section of TSE

COVID-19 crisis

Operating profit (right axis)

7.4
FY2010FY20085.1

Bankruptcy ofLehman Brothers

100.0
FY2006

50.0

142.8

7.0

136.3
6.2

6.0

5.0

94.3

4.7
4.0

56.4

53.0

3.0

37.8

2.1

32.1

29.0
1.3

2.0

1.2

1.0

0.0

7.0

87.9

48.7

34.8

0.9

7.4

68.8
3.7

Entry into Information
and Telecommunications
Business
Listed on JASDAQ

46.4

8.0

143.5

127.1

Entry into Real EstateBusiness

9.0

8.9

154.7

7.3
150.0

9.9 10.0

0.3

0.3

1.0

0.5

FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023

0.0

Plan
Created businessfoundation (early days)

New Medium-term Management
Plan 2007 to 2009

Used internal resources forenhancing governanceMedium-term Management
Plan 2010 to 2013
New Medium-term Management
Plan 2012 to 2016

Expansion based onbalanced management

New Medium-termManagement Plan 2021

Medium-termManagement
Plan 2026

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

22Overview of Business Results by Segment◼

Higher sales and earnings backed by the benefits of a business portfolio with several types of businesses.
◼ Growth in both Products HR and Services HR categories; performance of the core Human Resources andEducation Business surpassed the plan.
◼ Sales and earnings increased in the Real Estate Business as property sales were higher than planned, theresult of using opportunities for sales at the right timing.

(Million yen)
Human
ResourcesandEducation
Business
Products Human
Resources
Business
Services Human
Resources
Business

Real EstateBusiness

Information andTelecommunications Business

Agricultural
Park Business

Total

FY2022
Initialestimate

FY2021
ActualFY2022
Revisedestimate

FY2022
ActualAgainst initial estimate
ChangeYoY

Pct. change

ChangePct. change

104,992

116,691

129,449

132,880

16,18913.9%27,88826.6%

Segment profit

4,000

3,351

5,152

5,179

1,828

54.6%

1,178

29.4%

Profit margin

3.8%

2.9%

4.0%

3.9%

Net sales

70,667

78,15484,801

88,59810,44413.4%

17,931

25.4%

Segment profit

3,088

2,465

4,155

4,054

1,589

64.5%

966

31.3%

Net sales

4.4%

3.2%

4.9%

4.6%

34,32438,53744,64844,282

5,745

14.9%

9,957

29.0%

Segment profit

912

583

996

1,125

542

92.9%

212

23.2%

Profit margin

2.7%

1.5%

2.2%

2.5%

Net sales

36,97738,43737,86838,044

-393

-1.0%

1,067

2.9%

Segment profit

2,977

2,026

2,840

3,181

1,155

57.0%

203

6.8%

Profit margin
Net sales

Profit margin

8.1%

5.3%

7.5%

8.4%

Net sales

9,367

9,746

8,517

8,399

-1,347-13.8%-967-10.3%

Segment profit

118

227

182

125

-102

-44.6%

7

6.3%

Profit margin

1.3%

2.3%

2.1%

1.5%

Net sales

3,367

3,952

4,165

4,314

362

9.2%

947

28.1%

0

0%

179

-

Segment profit

-20

158

226

158

Profit margin

-

4.0%

5.4%

3.7%

Net sales
Elimination or
corporate
Operating profit

154,704

168,828

180,000

183,640

14,812

8.8%

28,935

18.7%

405

481

0

284

-197

-41.0%-121-30.0%

7,481

6,244

8,400

8,929

2,685

43.0%

1,447

19.3%

Profit margin

4.8%

3.7%

4.7%

4.9%

Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved

23

Overview of Quarterly Business Results▍Net sales and operating profit
FY2021
Net sales: ¥154,704 million(Million yen)

FY2022
Net sales: ¥183,640 million (YoY +18.7%)

列9Real Estate
列10Information and Telecommunications

50,000Net sales

列8Human Resources and Education

60,000

4,000
3,500

列11
Agricultural Park
3,000

Operating profit
列1240,0002,500

30,000

2,000

1,500

20,0001,000
10,000500

00

Net sales
Segment profit

FY2021
1Q
FY2021 1Q

FY2021
2Q
FY2021 2Q

FY2021
3Q
FY2021 3Q

FY20214Q
FY2021 4Q

FY2022
1Q
FY2022 1Q

FY20222Q
FY2022 2Q

FY2022
3Q
FY2022 3Q

FY20224Q
FY2022 4Q

23,19925,042

26,68430,066

29,11332,74133,861

37,164

Real estate

6,783

3,697

6,587

19,908

8,735

8,815

9,337

11,155

Information andTelecommunications

2,443

2,501

2,351

2,070

2,157

2,436

1,882

1,923

Agricultural Park

605

773

863

1,124

704

1,502

1,056

1,050

Human
Resources andEducation

888

982

1,009

1,119

1,280

1,317

1,490

1,091

Real estate

Human
Resources andEducation

740

-340

513

2,063

-57

1,644

491

1,102

Information andTelecommunications

4

89

39

-14

-37

113

-23

72

Agricultural Park

-68

-26

-28

102

-89

273

-39

13

Operating profit

1,682

769

1,663

3,366

1,214

3,415

1,992

2,307

Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved

24

Financial Condition B/S◼

Current assets increased ¥22,168 million to ¥108,257 million mainly because of an increase in real estate forsale.
◼ Non-current assets increased mainly because of a ¥3,467 million increase in goodwill.
◼ Liabilities increased ¥22,353 million to ¥86,395 million mainly because of a ¥16,743 million increase in interestbearing debt.

▍End of December 2021
Total assets▍End of December 2022

97,269 million¥

Total assets

123,591 million¥(+¥26,322 million)

Current assets

86,088¥

Liabilities

Current assets

64,042¥¥

108,257

Liabilities

86,395¥

millionmillionmillionmillion

Real estate
for sale¥35,050 million

Interest-bearing
debt¥39,205 million

Real estate
for sale¥49,605 million

Interest-bearing
debt¥55,948 million

Net assets
Non-current assets¥11,180 million¥33,226
million

Net assets
Non-current assets¥15,333 million¥37,195
million*Real estate for sale is the sum of real estate for sale and real estate for sale in process.
Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved

25Cash Flows◼

Negative operating cash flows because of an increase in real estate for sale.
◼ Negative investing cash flows resulting from purchase of shares of subsidiaries resulting in change in scope of
consolidation.
◼ Positive financing cash flows because of long-term borrowings.
Summary of FY2022 cash flows(Million yen)

Cash flows from operating activities
Increase in real estate for sale

Cash and cash equivalents
at end of period

Cash and cash equivalents
at beginning of period
Cash and cash equivalents at end of period
Up ¥4,329 million

Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved¥-12,075 million

Decrease in trade payables¥-692 million

Decrease in advances received¥-373 million

Increase in accrued expenses¥1,596 million

Increase in trade receivables¥-1,615 million

Cash flows from investing activities
Purchase of property, plant and equipment¥-1,670 million

Purchase of shares of subsidiaries resulting¥-4,165 million
in change in scope of consolidation

Loan advances¥-122 million

Cash flows from financing activities
Net increase in short-term borrowings¥1,254 million

Proceeds from long-term borrowings¥24,583 million

Repayments of long-term borrowings¥-9,316 million

Dividends paid¥-1,388 million

26

V
P.28 The Purpose of the World Holdings Group
P.29 Purpose of the Segments
P.30 Sustainability
P.31 Business Portfolio
P.32 History
P.33 Main Group Companies

About Us

P.34 Business Domains of the Human
Resources and Education Business
P.35 Business Domains of the Real EstateBusiness
P.36 Business Domains of the Information andTelecommunications Business
P.37 List of Agricultural Parks
P.38 Inquiries

Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved

27

The Purpose of the World Holdings Group

Contribute to happinessand a sustainable
society through thecreation of a variety ofways we live worldwide

Enabling people worldwide to enjoy evenmore energetic and fulfilling lives will create
happiness and contribute to progress inmany ways, thereby helping to make theworld better.
Our mission is to play a role in the creation ofan energetic and stimulating society where
people can enjoy their lives.

Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved28

Purpose of the Segments

The ways we work

Human Resources
and Education

We want to help people of all kinds find jobs that best match
their skills and goals in order to enable them to experience thejoy 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.

The ways we create
communities

Real Estate

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.

The
Ways WeLive
The ways we provide
convenience and safety

Information andTelecommunications

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.

Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved

The ways we look to the
futureAgricultural Park

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.

29

Sustainability

Real
EstateReal
EstateAgricultural
Park

Provide products that make houses environmentally responsible andpleasant as well as play a role in creating communities where people
can live with confidence

Agricultural
Park

Help protect the environment and conserve the earth’s resourcesand give children a place where they can grow while enjoying
healthy and educational outdoor activities

Human
Resources andEducation

Reduce poverty by establishing a stable base for people’s lives by
providing suitable jobs for people of all kinds

Human
Resources andEducation

Enable people of all kinds to achieve their full potential by providing
training and high-quality educational programs

Human
Resources andEducation

Maintain workplaces where everyone, regardless of gender, canperform their jobs to the best of their ability

Human
Resources andEducation

Provide jobs that match the characteristics of each individual and create
workplace environments where people can experience the joy andsatisfaction of work; realizing the full potential of people contributes toeconomic growth too

Human
Resources andEducation

Information andTelecommunications

Human
Resources andEducation

Information andTelecommunications

Environment

Society

Use education as a foundation for progress in the manufacturingsector and expand the utilization of the IT infrastructure as a base fortechnological innovation
Real
EstateStronger governance

Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved

Play a role in the constant advancement of society by using ties witha broad spectrum of industries, the consortium model and otheractivities

Upgrade the fairness, transparency and speed of governance of theWorld Holdings Group
Rigorous compliance program/Even stronger risk management

Governance30

Business Portfolio

Create a Sustainable World.
Use a well-balanced business portfolio for rapid growth and activities that help createa sustainable world
Human Resources andEducation Business

Real Estate 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”
Products Human Resources
Business
Services Human Resources
Business

Information andTelecommunications BusinessInformation andTelecommunications
Agricultural Park
Business

Agricultural Parks
Establishment of a business model focused on
the ability to respond to changes
Recurring
Diversification
revenue
One-timeof business
Decentralibusinessrevenuezationbusiness
Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved31History

COVID-19 crisis-0.5

Moved to TSE Prime Market

0.7

1.3
0.9

-4.4

Listed on TSE 1st Section (3 months after 2nd Section listing)-0.4

Agricultural Entry into Agricultural Park Business
FARM became a member of the
ParkWorld Holdings Group

1.9

△ 2.2

Established WORLD RESIDENTIAL

Bankruptcy ofLehman Brothers

Real Estate

Started the real estate development business(Company name changed to WORLD HOLDINGS)

0.8
0.5

Shifted to a holding company structure

2.6

-3.4

Real Estate

Start of sales & marketing staffing
business-0.5

Start of R&D staffing businessStart of technology staffing businessStart of factory staffing business

Established Mikuni

Started a residential brokerage anddevelopment business

Established Kyushu Hokubu
RehouseStart of overseas real estate operations

Established WORLD INTEC

Entry into Human Resources and Education
Business

0.0World Holdings GroupEnd of IT bubble
0.7
0.7

Asia currency crisis

Human
Resources andEducation

1.5

-0.9

Listed on JASDAQ

Information and Entry into Information and Telecommunications
Business
Telecommuni- e-support
became a member of thecations

2.0 2.0
1.7
1.4
1.2
0.9

1.9

△ 0.5

2.5

2.3

32
Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved

3.3

3.3
2.9

2.6

Establishment

End of bubble
Bubble economy

1986

2022

2010 2014 2016 2017
4.8

1981

1985

3.5
3.1
3.9

6.2

2005
1993
4.6

*The background graph is Japan’s GDP.

6.4
6.1

6.3

Main Group Companies

Human Resources and Education Business
Products Human
Resources BusinessWORLD INTEC CO., LTD.
Human resources services(Manufacturing/ Technology/
R&D)
WORLD CONSTRUCTION
CO., LTD.
Human resources services(Construction technology)
Human resources services(Materials)
WORLD INTEC TAIWAN
CO., LTD.
Human resources services(Taiwan)Real Estate BusinessInformation andTelecommunications
Business

Agricultural Park Business

Services Human
Resources BusinessWORLD STAFFING CO.,LTD
Human resources services
Logistics/ Light-duty jobs/ Callcenters

WORLD RESIDENTIAL CO.,LTD.
Development (Kanto)

Comprehensive real estatebusiness

Operation of call centersand stores

JW SOLUTION CO., LTD.

World iCity Co., Ltd.

Human resources services(Tourism)

Development (Tohoku)

WORLD MIKUNI CO.,LTD.
Renovation

Operation of mobile phone
stores (Softbank)

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

World Wisteria Homes Co., Ltd.

M'S WORLD CO., LTD.

Development (Kansai)

Renovation (Hokkaido)

Development and operationof the Wakrak daywork
application(Non-consolidated)

WORLD INTEC CO., LTD.

Best IT Business Co., Ltd.
Corporate solutions

Management and operation ofagricultural parks

COMPAX Co.,Ltd.

Human resources services (U.S.)

Development (Indonesia) (Non-consolidated)

WORLD GLOBAL SUPPORT CO., LTD.
Support services for foreign intern training programs

OMACHI WORLD Co., Ltd.
Manufacturing of prefabricated house

GEOGRAPHIC INFORMATIONOF KYUSHU, INC.
Geographic information system development

WORLD STYLE CO., LTD.
Operation of mobile phone
stores (au)Real estate consulting

Condominium and building management

Repair of cameras and digital equipment

CROWDWEIGHT CO.,LTD.

Nichimo Real Estate Co, Ltd.

Human resources services(China)DOT WORLD Co., Ltd.
Clinical research (CRO)Management and operation ofagricultural parks

World Share Selling Co., Ltd.
Sales of prefabricated house
KOKOPELLI Inc.
Real estate Human resources services (Non-consolidated)
Finance BusinessWORLD ASSET MANAGEMENT CO., LTD.

WORLD SYSTEM SERVICE CO., LTD.
Outsourced software development

Real estate fund management(Financial Instruments and Exchange Act) (Non-consolidated)
World Capital Solutions

Outsourced software development

PC schools/ Produces websites

Real estate fund management(Act on Specified Joint Real Estate Ventures)
Mirai Servicing Co, Ltd.
Collection of receivables (Non-consolidated)

Creative Inc.
Human resources services (Manufacturing/ Plant)

Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved

33

Human Resources
and Education
Business

Business Domains of the Human Resources
and Education BusinessBusiness process outsourcing and staffing services that seamlessly cover abroad range of business domains
Manufacturing domain

Service domain

Products Human Resources Business

Services Human Resources Business

After-sales service

Manufacturing

Design/Development

R&D
Pharmaceutical
BiotechCRO

Semiconductors
Semiconductors
Automobiles
Machinery
Information andElectrics andTelecommunications
electronics

Support for upstream to downstream
processes for manufacturing

About

Tourism
Logistics
E-commerceLightduty jobs

Sales directly
to customers

Call High-volume retailers
Department stores
centers
A strategically targeted approach for rapid
growth in the services domain

36,600 workers in service

Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved

Tourism industry*As of December 2022

34

Real EstateBusiness

Business Domains of the Real Estate Business

Building an infrastructure able to adapt to any change in thebusiness climate
Real estate for investment

Real estate trust
beneficiary rights

Development

Real estate revitalization

Real estate financeCondominiums/Detached houses

Renovation

Commercial land development

Conversion

Assetmanagement

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 fundmanagement

Examples of renovation

BIZIA Koujimachi Building

Residential Aoba Hirosegawa(Sendai, Miyagi)

Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved35

Information andTelecommunications
Business

Business Domains of the Information andTelecommunications Business

Mobile phone shop

Corporate solutions

The largest network of stores in Kyushu

We propose the reduction of costs for electric

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

power, communications, etc. by selling our
products to corporations▍Comprehensive cost reduction solutions• Softbank Shops• au Shops

福岡

Air
conditioners
forbusiness use

Monitoring
cameras佐賀

LEDlighting

Smartphones

長崎
大分

熊本

33 stores
As of December 2022

宮崎

PCs

Security

鹿児島

Water
dispensers

Supplies

Multifunction
machines

Telephonesystem forbusiness use

Internetlines▍Call center
沖縄

Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved

Sale of various products
for individuals and corporations

36

Agricultural Park
Business

List of Agricultural Parks
Operation of nature-rich agriculturalparks, etc. at 14 locations around Japan
Operation of a total of 14 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
Shiga Agricultural Park

Blumen Hugel Directly
managed
Farm
Kanzaki Farm Park

Comorebi

Ibaraido Forest

Ama Site Park

Yodel Forest

Directly
managedChiba Zoological Park

Fureai Dobutsu-no-Sato
Niimi Chiya Onsen Ibukinosato
Nagai seaside Park

Soleil Hill

Hibikinada

Green Park
Sakai Greenery Museum

Harvest Hill
Kitakyusyu Municipal

Sougou Nouji Center
We also produce and sell
homemade sausages,
confectionery, beers, etc.

Wakayama Castle
Zoological Park
Ohashi Kogen International
Exchange Village
Okayama Forest Park

German Forest
Copyright © WORLD HOLDINGS CO., LTD. All Rights Reserved

Directly
managedDirectly
managed37

Inquiries

The “Ways We Live”

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.

Copyright © WORLD HOLDINGS CO., LTD. All Rights ReservedTEL:+81(0)3-3433-6005

E-MAIL:irinfo＠world-hd.co.jp

URL:

https://www.world-hd.co.jp/38