FY2017 Third Quarter Financial Results
第3四半期

2017年11月6日(月)
November
6, 2017 (Mon)
株式会社ワールドホールディングス
WORLD HOLDINGS CO., LTD.
東証１部 (2429)
First Section of Tokyo Stock Exchange
Copyright © WORLD HOLDINGS CO.,LTD. All Rights Reserved0Contents
Ⅰ. Summary of FY2017 Third Quarter Financial Results
・Overview of Financial Results… P3・Overview of Business Results by Segment… P4

・Budget Progress… P5

・Summery of Overview by Segment… P7

・Details of Each Segment… P8・Financial Condition B/S… P15

Ⅱ. FY2017 Business Forecasts
・Summary of FY2017 Business Forecast… P17

・Business Forecast by Segment… P18

・Shareholder Returns… P19

Appendix
・News Release… P21
Copyright © WORLD HOLDINGS CO.,LTD. All Rights Reserved1

of FY2017
Third Quarter Financial Results
Ⅰ. Summary
2017年12月期
第3四半期決算概要

Copyright © WORLD HOLDINGS CO.,LTD. All Rights Reserved2Overview of Financial Results
Sales increased in all segments. Sales of the human resources and education businesses has grown for
7 consecutive terms. Income in the real estate business declined considerably due to the rush for property
handover by the third quarter in the previous fiscal year; however, the full-year progress is as planned.
(Unit: Million yen, %)2016/3Q
actual2017/3Q
actualYOY
ChangePct. Change

Full-year
Budget*Ratio to fullyear budget

Net sales

69,67583,71814,042

20.2

123,846

67.6

Operating income

6,506

3,399

△3,106

△47.8

6,270

54.2

Ordinary income

6,454

3,375

△3,078

△47.7

5,936

56.9

3,678

2,256

△1,421

△38.7

3,519

64.1

Net income attributable toowners of parent*Announced on February 13, 2017
Copyright © WORLD HOLDINGS CO.,LTD. All Rights Reserved3

Overview of Business Results by Segment


Human Resources and Education Business: Both sales and income rose considerably thanks to the thoroughestablishment of a system for recruitment, training, and job retention.
Real Estate Business: The largely fluctuating business characteristics are under our complete control, and sales show ahealthy growth for achieving the full-year budget.
Information and Telecommunications Business: The area strategy has been shifted from a point to a plane, and priorinvestment has been made in augmenting the number of stores and remodeling stores.

2016/3Q
actual(Profit margin)

2017/3Q
actualUnit: Million yen, %Factory BusinessTechnology Business

Human Resources
and Education
Business

R&D Business
Sales & Marketing
Business
Total (reference)

Real EstateBusiness

Real Estate BusinessInformation andTelecommunications
Business

Information andTelecommunications
Business

Other

Others

Total

ChangeNet sales

69,67529,342
2,044
9,028
959
4,703
437
4,450
195
47,523
3,636
27,349
1,198
6,618
86
2,226
△42
83,718Elimination or
corporate△1,581△1,479Operating income

6,506

Net sales

21,623

Segment income

1,539

Net sales

7,437

Segment income

772

Net sales

4,022

Segment income

361

Net sales

4,021

Segment income

236

Net sales

37,105

Segment income

2,910

Net sales

26,422

Segment income

4,999

Net sales

5,796

Segment income

164

Net sales

350

Segment income

12(7.1%)(10.4%)(9.0%)(5.9%)(7.8%)(18.9%)(2.8%)(3.7%)(9.3%)

3,399

Full-year
budget*YOY(Profit margin)(7.0%)(10.6%)(Profit margin)

Ratio to fullyear budget

Pct. Change

7,718

35.7

34,299

505

32.8

2,242

1,590

21.4

11,818

186

24.1

940

680

16.9

6,400

(9.3%)

75

21.0

582

429

10.7

6,500

(4.4%)△41△ 17.4397

85.5(6.5%)

91.2(8.0%)

102.0

76.4
73.5
(9.1%)

75.0
68.5(6.1%)

49.2

10,41828.1

59,018(7.7%)

726

25.0

4,163

926

3.5

50,685(4.4%)△3,800△ 76.0

3,702

822

14.2

10,198(1.3%)△78△ 47.5

245

1,875

534.7

3,943

△55

-

36

14,042

20.2

123,846

67.6

101

-

△1,877-△3,106△ 47.8-(4.1%)

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

6,270

80.5
(7.1%)

87.4
54.0(7.3%)

32.4
64.9(2.4%)

35.2
56.5
-

(0.9%)(5.1%)

54.2*Announced on February 20, 20174

Budget Progress / "Consolidated" & "Human Resources and Education
Business"
Human Resources andEducation Business

Consolidated

Factory BusinessTechnology Business

R&D Business

Sales & Marketing Business

4Q
3Q

2Q
1Q
FY2016
昨年度

Budget
予算

FY2017
今年度

Sales growth is nearly as planned,
and income has significantly
overachieved the budget, led by thehuman resources and education
business.

昨年度
FY2016

予算
Budget

今年度
FY2017

As we dealt with largescale projects andexpanded the contract
scale, both sales andincome have significantly
overachieved the budget.

昨年度
FY2016

予算
Budget

今年度
FY2017

As we have shifted toprojects with more favorable
conditions based on theachievements in humanresources development,
both sales and income haveshown a healthy increase.

昨年度
FY2016

予算
Budget

今年度
FY2017

昨年度
FY2016

予算
Budget

今年度
FY2017

Income has increased as wehave strategically optimized
charges by developing humanresources with stronger loyalty
to their companies.

We have focused on
environmental arrangement,such as reorganization ofbusiness fields, relocation ofbases, and enhancement of
the management department.

昨年度
FY2016

昨年度
FY2016

4Q
3Q
2Q
1Q
昨年度
FY2016FY2016
昨年度

Budget予算

予算
Budget

今年度
FY2017FY2016
昨年度

Budget
予算

FY2017
今年度

予算
Budget

今年度
FY2017

Budget
予算

今年度
FY2017FY2017
今年度*Upper: sales, lower: segment income (however, the lower part in the“consolidated” section shows operating income.)

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

5Budget Progress / "Real Estate Business" "Information and Telecommunications
Business" "Other"
Information andTelecommunications
情報通信ビジネス
Business

Real Estate Business
不動産ビジネス

Other
その他

4Q

3Q
2Q
1Q
昨年度
FY2016

予算
Budget

今年度
FY2017

昨年度
FY2016

There is a rush for property handover in and after
this fourth quarter, and both sales and income havebeen growing for achieving the budget.

予算
Budget

今年度
FY2017

We make prior investment in setting up
a better store network, opening newstores, and other activities.

昨年度
FY2016

予算
Budget

今年度
FY2017

We have invested in closer investigationand system establishment, aiming for early
regeneration of agricultural parks that FARM
Co., Ltd. has engaged in.

4Q
3Q
2Q
1Q

昨年度
FY2016

予算
Budget

FY2017
今年度

昨年度
FY2016

予算
Budget

FY2017
今年度

昨年度
FY2016

予算
Budget

FY2017
今年度*Upper: sales, lower: segment income

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

6Summary of Overview by Segment
Primary Measures in 2017
Human Resources and Education
Business

Real Estate Business・Enrichment of a career development
system for developing a human resources
platform
・To collect data on the preferences of job
seekers, accept a broad range of workers
through one-stop services, and develop abase for mutual matching・ To strengthen and launch businesses(related to renovation and single family
housing) that can recoup investments in ashort period of time・Business development while grasping thefield and timing where development-related
ROI* would be maximized

Information and Telecommunications
Business・ To improve the environment of existing
cellphone shops and open new excellent
stores・ To establish a service of providing
corporations with comprehensive cost
reduction solutions via our various products*ROE: return on investment

Situations in and before 3Q
Net sales

Segment income

Net sales

Segment income

Net sales＋28.1%＋25.0%＋3.5%△76.0%+14.2%△47.5%

YOY

YOY

YOY

YOY

YOY

YOY

・Improvement of the career development
support system

Completed and operation started

Reduction in recruitment expenses, increase in thenumber of trained human resources, and improvement ofa job retention rate

・Start of investment in systems forfurther enhancement

Prepare for visualization of humanresources more strongly than ever,taking job mobility into consideration

・Establishment of portfolio
Steady growth in renovated and detachedhouses (sales composition ratio: 51.8%, as ofthe end of Sep.)

Development of an operating structurethat enables strategic and flexible
purchase and sale, depending on regions
and market conditions, by clarifying thelargely fluctuating businesscharacteristics.

Segment income

・Pursuit of marketing toward thesecond growth period
Increase in the number of stores by
16
・Establishment of company-oriented
services
Focusing on environmental business,
centering on sale of LED lights.

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7

Human Resources andEducation Business

Factory Business<Sales composition by business segment and the number of staff members>
 Teaming and fluidization of administrative employees have enabled effective launch and steady
operation of large-scale projects, reducing recruitment costs and magnifying the effect of the improved
job retention rate.
 In the logistics field, we have made contract highly advanced, and expanded our share in clients throughimprovement of productivity, a change in the organizational structure to a hierarchic one, anddevelopment of leaders.
◆ Segment income◆ Sales composition by business segment(Million yen)

30,000Up 35.7%
21,62315,000

4.0%
8.3%△17.2％+87.8％

15.8%+32.3％

4.7%+28.9％

31.1%+56.9％

21.2%
6.3%
5.8%
15.7%

10,000

4.8%(Million yen)

(Persons)

2,500

16,000

2,044

+1.5％

16.2%

25,00020,00029,342

YoY(Based on
monetary
amount)◆ Variation in the number of staff (3-month average)

2,000

Up 32.8%

14,00012,000

1,539
1,500

1,000

8,953

8,000

1,291
617

20.0%

19.9%

2016 3Q

2017 3Q

Electric & Electronics
Automobiles
Machinery
Others

Logistics
Semiconductors
Environment & Energy

7,045

8,158

2,000

+30.9％

0

0

1,466

6,000

500

5,000

4,434

10,000

4,000

26.2%

14,05802016 3Q

2017 3Q

2016 3Q

2017 3Q

Other companies/acceptance
Entrusted by overseas and government office
Number of staff*The number of staff is a three-month average. External staff members accepted from other companies are included.
*Number of staff included only staff members who are engaged in on-site operation work

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

8Human Resources andEducation BusinessTechnology Business<Sales composition by business segment and the number of staff members>
The function of training inexperienced employees and steadily turning out them as mechanical design engineers
specializing in automobiles and devices in the design center established for training engineers has taken root, and theregistration number is rising.
We have enriched the curriculum for developing human resources specializing in strongly demanded expertise (such asserver virtualization, JAVA programming, and built-in control), in order to broaden the skills of the existing employees,
augment the number and kinds of assigned work places, and enhance the effect of increase in charges.

◆ Segment income◆ Sales composition by business segment(Million yen)

10,000

8,000

9,028
Up 21.4%
7,437
32.4%

6,000

4,000

2,000

(Million yen)

YoY
(Based on
monetary
amount)+43.8％

800

772(Persons)

2,500

Up 24.1%

2,032
2,000

1,845

314

296
6.1%
5.1%

+18.2％+28.8％

16.3%+21.0％

45.2%

40.1%

+7.6％

2016 3Q

2017 3Q

16.4%

959

1,000

27.4%
6.2%
4.8%

◆ Variation in the number of staff (3-month average)

600

1,500

400

1,000

200

500

0

0
OthersAutomobiles
Machinery
Information and telecommunications service
Semiconductors

779

1007

770

711

2016 3Q

2017 3Q

02016 3Q

2017 3Q

Construction, repair and other technology
Design development
Production technology*The number of staff is a three-month average.
*Number of staff included only staff members who are engaged in on-site operation work

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9Human Resources andEducation Business

R&D Business<Sales composition by business segment and the number of staff members>We pursue not quantity but quality not only by improving skills as researchers but also by fostering employees withstronger loyalty to their companies and rich personality, aiming to break new ground in more advanced fields.
A system for developing researchers who possess advanced expertise has been established in cooperation with
university research institutions (see p. 21).
DOT WORLD Co., Ltd. is establishing a structure for effective business execution, such as strategic changes torecruitment approaches and adoption of an administrative system, under circumstances where projects are becoming
larger.
◆ Segment income◆ Sales composition by business segment(Million yen)

5,000

Up 16.9%
4,022

4,000

4,703

YoY
(Based on
monetary
amount)

21.4％

+8.3％

◆ Variation in the number of staff (3-month average)(Million yen)

(Persons)

500

1,000

437

883

Up 21.0%
400

800

361

999
91

83

23.0％

3,000
44.5％

2,000

30.7％

200

400

100

200

908

34.1％

+26.4％

00
2016 3Q
Clinical600+14.6％

46.3％

1,000

300

Chemical2017 3Q

800

02016 3Q

2016 3Q

2017 3Q

R&D staff

Pharmaceutical/biotechnology

2017 3Q
DOT staff*The number of staff is a three-month average.
*Number of staff included only staff members who are engaged in on-site operation work

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

10Human Resources andEducation Business

Sales & Marketing Business<Sales composition by business segment and the number of staff members>
 Sales increased by selecting and concentrating types of jobs and business fields that we handle, basedon the business scale which we have expanded so far.
 In the unstable market (worker dispatch based on registration), we have focused on building a firm
foundation, reviewed an optimize scale, and made prior investment in environmental improvement, suchas reorganization of business bases and enhancement of the management department.
◆ Sales composition by business segment◆ Segment income◆ Variation in the number of staff (3-month average)(Million yen)

(Million yen)

(Persons)

5,000

300

3,000

Up 10.7% 4,450
4,000

4,021
36.1％
39.2％

YoY
(Based on
monetary
amount)

+2.1％

250

236 Down 17.4%

2,500

2,334

2,210

195

200

2,000

3,000

1,206

150

1,500

100

1,000

50

500

890

2,000
63.9％

1,000

+16.2％

60.8％

002016 3Q
Sales staff dispatch2017 3Q

2016 3Q
Sales staff dispatch

Operator/light-duty worker dispatch

This term, our original names “CB Division” and “OCS Division” wererenamed “Sales staff dispatch” and “Operator/light-duty worker
dispatch,” respectively.

1,320

0
2016 3Q

2017 3Q

1,128

2017 3Q
Operator/light-duty worker dispatch*The number of staff is a three-month average.
*Number of staff included only staff members who are engaged in on-site operation work

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11Real Estate Business

Real Estate Business<Sales composition by business segment and major activities>
In the development-related field, income was high last fiscal year because we successfully grasped the largely fluctuating
business characteristics; however, this year, there is a rush for property handover in and after the fourth quarter. Sales
show a healthy growth toward the full-year budget. Regarding purchase, we will carefully watch the market conditions.
The renovation-related field is thriving steadily by enhancing branding approaches and concentrating on strong regions.
In the detached house-related field, sales show a healthy growth. We are preparing for business expansion in the Tohoku
region through synergy with the existing businesses, in addition to development of new land for sale.
In the prefabricated house-related field, we have propelled development of new products amid the booming market
conditions in the Kyusyu region.






◆ Sales composition by business segment(Million yen)

30,00026,422 Up 3.5%
25,000

4.0%

24.6％

20,00015,00010,00027,3495.0%

YoY(Based on
monetary
amount)4,999

全143区画+40.0％

4,000

Down 76.0%

3,000
2,000

71.4%
43.2%

0
2016 3Q

6,000+30.8％

18.5%

5,000

A big town with a
total 143 divisions isbuilt in
Shinhassamu.

(Million yen)

5,000
33.3％

◆ Sales of detached houses grow healthily.

◆ Segment income

2017 3Q

1,198△37.4％

Sales of the large-scale land for sale in lots, which HOEIKENSETSU Inc. has established in Shinhassamu, Sapporoshi show a healthy growth.

◆ New product, “Toilet House” earned a positive
reputation.

1,000
0

Prefabricated houses-related
Renovation-related
Single-family housing*Single-family housing taken into account from 1Q of 2017
Development-related

2016 3Q

2017 3Q“Toilet House” by Omachi World co., ltd. has been certified by an
NPO, Japan Toilet Lab.

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12

Information andTelecommunications
Business

Information and Telecommunications Business<Sales and major activities>
 Based on marketing in the neighboring areas and the M&A strategy, we have increased our regional
share and added16 new stores, increasing the number of company stores to 49.
 Aiming to build a better store network, we have made prior investment in environmental improvement,such as relocation and upsizing of the existing stores.

◆ Sales for each target(Million yen)

(Million yen)

8,000
Up 14.2% 6,618
6,000◆ Added 16 new stores◆ Segment income

5,796

11.8%

YoY
(Based on
monetary
amount)

△1.9％

200

164
150

Down 47.5%

13.8%

100

4,000
88.2%

86

◆ Propelled relocation and upsizing of existing stores+16.8％

86.2%

50

2,000

0

0
2016 3Q

2017 3Q

Individual

Corporation

2016 3Q

2017 3Q

Strive to earn greater customer loyalty by
developing a better store network.
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13OtherOthers<Sales and major activities>

In addition to its healthy school management and website creation, Advan Inc. has contributed to improvement of the skillsof engineers by enriching the curriculum for training engineers in the human resources and education segment.
Aiming for early regeneration, FARM Co., Ltd., which has engaged in the agricultural park business, has enhanced its
foundational management strength through restructure of the staff organization and awareness raising and prepared itself
for investment for the next term.

◆ Sales◆ Technical training based on the collaboration◆ Segment income(Million yen)

between Advan and the Technology Business(Million yen)

2,500

2,226

YoY
(Based on
monetary
amount)+ 9.5%

2,000

60
40
20

Advan has made contributions to improving skills of IT
engineers in the human resources and education segment.

12

1,500

◆ Development of the agricultural park business forthe next term

0
1,000

Up 534.7%
△20

500

350

△40

△42
+15.1%

02016 3Q
Advan Inc.

2017 3Q
Farm Co., Ltd.

△60
2016 3Q

2017 3Q

Other*We newly consolidated Farm Co., Ltd. from thesecond quarter of FY2017.

Investment is prepared in measures for attracting customers byusing the features of each facility and reorganization of facilities bymaking the best use of the off-period in winter.

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14

Financial Condition B/S Increase in assets and liabilities in relation to real estate for sale and acquisition ofsubsidiaries
Total assets(Million yen)

Current assets

100,000
80,00084,13873,392・ Increase in real estate for sale

60,00040,00074,224

66,996

100,000
80,000

6,395

9,914

End of FY2016

End of FY2017 3Q

Total liabilities/net
assets・ Increase in goodwill

Liabilities

84,13873,392

2,488 million yen

67,433（+9,504）

・ Increase in short-term debt*

4,900 million yen

53,03240,000Net assets

13,90914,40015,464

16,705End of FY2016

End of FY2017 3Q

Net assets

476 million yen*Money to purchase real estate for sale and acquire shares of subsidiaries

44,0180

9,914（+3,518）

Current assets

60,00020,0002,207 million yen*Due to the acquisition of subsidiaries

Fixed assets(Million yen)Fixed assets

・ Increase in property, plant and equipment*

20,000074,224（+7,228）

Fixed liabilities

16,705（+1,241）• Increase in retained earnings

980 million yen

Current liabilities

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15

Ⅱ.

FY2017 Business Forecasts

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16Summary of FY2017 Business Forecast
 Sales are estimated to grow for the 8th consecutive term. We will fortify the base for the
new mid-term managerial plan.

FY2016 actual
Unit: Million yen, %FY2017
forecast

Change from forecast
ChangePct. Change

Net sales

94,334

123,846

29,512

31.3

Operating income

7,407

6,270

△1,137△ 15.4

Ordinary income

7,306

5,936

△1,369△ 18.7

Net income
attributable to

4,192

3,519

△672

△ 16.0EPS (yen)

250.92210.63△40.29△ 16.1

75.3

63.2

△12.1

△ 16.1Dividend per share (yen)Copyright © WORLD HOLDINGS CO.,LTD. All Rights Reserved

17

Business Forecast by Segment

 Sales are estimated to grow in all segments

FY2016 actual

単位：百万円、％
Unit:
Million yen, %Factory BusinessTechnology Business

Human
Resources andEducation
Business

R&D Business
Sales & Marketing
Business
Total (reference)

Real EstateBusiness

Real Estate BusinessInformation andTelecommunicati
ons BusinessInform ation andTelecom m unications
Business

Other

Others

Total

Sales
Segment income
Sales
Segment income
Sales
Segment income
Sales
Segment income
Sales
Segment income
Sales
Segment income
Sales
Segment income
Sales
Segment income
Sales
Elimination or
corporate
Operating income

30,111
2,080
10,334
1,015
5,533
571
5,654
296
51,633
3,964
34,481
5,171
7,742
244
476
17
94,334△1,9907,407(Profit margin)(6.9%)(9.8%)(10.3%)(5.3%)(7.7%)(15.0%)(3.2%)(3.7%)(7.9%)FY2017 forecast

Change from forecast(Profit margin)

Change34,2992,242
11,818
940
6,400
582
6,500
397
59,0184,163
50,685
3,702
10,198245
3,943
36
123,846△1,877
6,270

Copyright © WORLD HOLDINGS CO.,LTD. All Rights Reserved(6.5%)(8.0%)(9.1%)(6.1%)(7.1%)(7.3%)(2.4%)(0.9%)(5.1%)

4,187
162
1,484
△74
867
10
845
100
7,384
198
16,204△1,468
2,455
0
3,467
18
29,512(―)△1,137

Pct. Change

13.9
7.8
14.4
△7.4
15.7
1.9
15.0
33.9
14.3
5.0
47.0
△28.4
31.7
0.3
727.8
103.9
31.3
(―)
△ 15.418

Shareholder Returns

Aim to achieve a payout ratio of 30%
(yen)

80.0

Dividend per share
75.3

(yen)

*Variation of our share price from the beginning of the year

70.0

63.2
60.0
50.0

45.7

40.0

30.0

23.7

20.0
10.0

4.33

4.5

4.5

FY2009FY2010FY20118.5

10.0

FY2012FY20130.0
FY2014FY2015FY2016FY2017(forecast)*The forecast and dividend estimated are based on the information that the Company has and a certain assumption that is
considered reasonable. There is a possibility that the actual results may largely differ based on various factors.

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19Appendix

Copyright © WORLD HOLDINGS CO.,LTD. All Rights Reserved20News release
Conclusion of a joint research contract
with Kyoto University and Osaka
Prefecture University
The R&D business department (World Intec Co. Ltd.) has entered into acontract for a joint research with Teranishi Laboratory of Institute for
Chemical Research, Kyoto University, and Inui Laboratory of Graduate
School of Life and Environmental Sciences, Osaka Prefecture University.

Announcement of results of the survey of attitude
toward work conducted on women (mothers)- 1,000 mama project We conducted a survey of attitude toward “work”
targeted at 1,000 women (mothers) who live inFukushima.

Our company will develop researchers who possess
highly advanced expertise through a joint research witheach of the laboratories.
Teranishi Lab./Institute for Chemical Research, Kyoto University
It will assist employees in learning the instrument technology in theanalytical chemical and chemosynthesis fields through practicalactivities, while supporting research in the next-generation
nanotechnology.

Inui Lab./Osaka Prefecture University
School of Life and Environmental Sciences

It will develop bio-informatics human resources through a joint
research in which a training and educational program is included.

This attitude survey was conducted jointly by “Kurashi-zukuri Village,”
operated by Stand for Mothers, a general incorporated association, and“Oshigoto-Hyakkaten” (private public employment security office),
operated by World Intec Fukushima.

Please refer to the news release issued on November 6, 2017 for detail.
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21

For More Information

Norio Nishihara
Public Relations and Investor Relations Department
Corporate Planning Division
WORLD HOLDINGS CO., LTD.
TEL: 03-3433-6005
E-MAIL: irinfo＠world-hd.co.jp
URL: http://www.world-hd.co.jp/
No information in this presentation is provided for the purpose of soliciting purchases or sales of our stock.
Furthermore, opinions, forecasts and other information not based on historical facts represent our judgments at thetime this presentation was prepared. We do not guarantee the accuracy of this information and may revise thisinformation at any time without prior notice. We and other providers of this information assume no responsibility
whatsoever for any losses incurred in association with the information in this presentation.

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