Consolidated Financial Results for the Third Quarter of 2022
(Nine Months Ended September 30, 2022)[Japanese GAAP]
November 10, 2022

Company name: WORLD HOLDINGS CO., LTD.

Listing: Tokyo Stock Exchange
2429
URL: http://www.world-hd.co.jp
Eikichi Iida, Chairman and President
Shigeru Nakano, Director, Business Management Division Manager
Tel: +81-92-474-0555
Scheduled date of filing of Quarterly Report:
November 14, 2022
Scheduled date of payment of dividend:
Preparation of supplementary materials for quarterly financial results: Yes
None
Holding of quarterly financial results meeting:Stock code:
Representative:
Contact:(All amounts are rounded down to the nearest million yen)

1. Consolidated Financial Results for the First Nine Months of 2022 (January 1 to September 30, 2022)(1) Consolidated results of operations
Net sales
Million yen

Operating profit%

132,346
Nine months ended Sep. 30, 2022
Nine months ended Sep. 30, 2021
101,533
Note: Comprehensive income (millions of yen)

Million yen%

Million yen%

Million yen

%

3,883
3,150

23.3
4.6

30.3
6,621
60.9
6,736
54.4
2.9
4,115
25.3
4,362
20.9
Nine months ended Sep. 30, 2022: 4,084 (up 21.6%)
Nine months ended Sep. 30, 2021: 3,358 (up 7.8%)

Net income per share
Nine months ended Sep. 30, 2022
Nine months ended Sep. 30, 2021

(Percentages represent year-on-year changes)
Profit attributable toOrdinary profit
owners of parent

Diluted net income per share

Yen

Yen

222.27180.50221.05179.25(2) Consolidated financial position
Total assets

Net assets

Million yen

Equity ratio

Million yen

Net assets per share%

120,496
35,905
As of Sep. 30, 2022
As of Dec. 31, 2021
97,26933,226
Reference: Shareholders’ equity (millions of yen)
As of Sep. 30, 2022: 34,081

Yen

28.3
1,947.95
32.4
1,803.96
As of Dec. 31, 2021: 31,501

2. Dividends
Dividends per share
1Q-end2Q-endYen

3Q-endYear-end

Total

Yen

Yen

Yen

Yen

2021
0.00
2022
0.00
2022 (forecast)
Note: Revisions to the most recently announced dividend forecast: None

-

79.50

79.50

80.00

80.00

3. Consolidated Forecast for 2022 (January 1 to December 31, 2022)
Net sales
Million yen

Operating profit%

Million yen(Percentages represent year-on-year changes)
Profit attributable to
Net income per shareowners of parent

Ordinary profit%

Million yen%

Yen

Full year
180,000 16.4
8,400
12.3
8,200
6.0
Note: Revisions to the most recently announced consolidated forecast: None%

Million yen

4,600

(0.6)

263.38

* Notes(1) Changes in significant subsidiaries during the period (change in scope of consolidation): None
Newly added: -Excluded: -(2) Application of special accounting methods for presenting quarterly consolidated financial statements: Yes
Note: Please refer to the section “2. Quarterly Consolidated Financial Statements and Notes, ( 3) Notes to Quarterly
Consolidated Financial Statements, Application of Special Accounting Methods for Presenting Quarterly Consolidated
Financial Statements” on page 9 for further information.

(3) Changes in accounting policies and accounting-based estimates, and restatements
1) Changes in accounting policies due to revisions in accounting standards, others: Yes
2) Changes in accounting policies other than 1) above: None
3) Changes in accounting-based estimates: None
4) Restatements: None
Note: Please refer to the section “2. Quarterly Consolidated Financial Statements and Notes, ( 3) Notes to Quarterly
Consolidated Financial Statements, Changes in Accounting Policies” on page 9 for further information.

(4) Number of shares issued (common stock)1) Number of shares issued at the end of the period (including treasury shares)
As of Sep. 30, 2022:

17,609,600 shares

As of Dec. 31, 2021:

17,575,900 shares

As of Dec. 31, 2021:

113,573 shares

2) Number of treasury shares at the end of the period
As of Sep. 30, 2022:

113,573 shares

3) Average number of shares during the period
Nine months ended Sep. 30, 2022:

17,473,203 shares

Nine months ended Sep. 30, 2021:

17,455,188 shares* The current financial report is not subject to quarterly review by certified public accountants or auditing firms.
* Cautionary statement with respect to forward-looking statements, and other special items
Cautionary statement with respect to forecasts
Forecasts of future performance in this document are based on assumption judged to be valid and information currently
available to the Company’s management, but are not promises by the Company regarding future performance. Actual results
may differ materially from the forecasts for a number of reasons. Please refer to “1. Qualitative Information on Quarterly
Consolidated Financial Performance, (3) Explanation of Consolidated Forecast and Other Forward -looking Statements” onpage 4 for forecast assumptions and notes of caution for usage.
How to view supplementary materials for quarterly financial results
Supplementary materials to be distributed at this event will be disclosed on the same day, using the Timely Disclosure networ k(TDnet), and available on the Company’s website.

WORLD HOLDINGS CO., LTD. (2429) Financial Results for the Third Quarter of 2022

Contents of Attachments
1. Qualitative Information on Quarterly Consolidated Financial Performance2(1) Explanation of Results of Operations

2(2) Explanation of Financial Position

4(3) Explanation of Consolidated Forecast and Other Forward-looking Statements

4

2. Quarterly Consolidated Financial Statements and Notes

5(1) Quarterly Consolidated Balance Sheet

5(2) Quarterly Consolidated Statements of Income and Comprehensive Income

7

Quarterly Consolidated Statement of Income
For the Nine-month Period

7

Quarterly Consolidated Statement of Comprehensive Income
For the Nine-month Period

8(3) Notes to Quarterly Consolidated Financial Statements

9

Going Concern Assumption

9

Significant Changes in Shareholders’ Equity

9

Changes in Significant Subsidiaries during the Period

9Application of Special Accounting Methods for Presenting
Quarterly Consolidated Financial Statements

9

Changes in Accounting Policies

9

Segment Information

11

1

WORLD HOLDINGS CO., LTD. (2429) Financial Results for the Third Quarter of 2022

1. Qualitative Information on Quarterly Consolidated Financial Performance(1) Explanation of Results of Operations
During the first nine months of the current fiscal year, the Japanese economy followed a recovery trend as
Covid-related restrictions on economic activities were gradually lifted and society as a whole began to normalize.
However, the situation was complicated by numerous factors exerting downward pressure on the economy,
including geopolitical risks such as the situation in Russia and Ukraine, rising prices of resources, and price hikesof daily necessities due to the yen’s depreciation.
Under these circumstances, the Human Resources and Education Business, which is the core business of theWorld Holdings Group, performed well due to its business portfolio strategy driven by accurate marketing
responding appropriately to changes in the environment. In the Real Estate Business, the volume of sales andcontract closings has exceeded the plan as this business continues to use a cautious stance. As a result, the firstnine months’ consolidated sales and earnings were higher than one year earlier and surpassed t he plan for the firstnine months.
Net sales increased 30.3% year on year to 132,346 million yen (up 0.5% vs. plan). Operating profit increased
60.9% to 6,621 million yen (up 1.2% vs. plan), ordinary profit increased 54.4% to 6,736 million yen (up 2.7% vs.
plan), and profit attributable to owners of parent increased 23.3% to 3,883 million yen (up 3.5% vs. plan).
All activities of the World Holdings Group continue to be guided by the group’s purpose of “contributing tohappiness and a sustainable society through the creation of a variety of ways we live worldwide.” By increasing
the value of human capital, which is the group’s most important resource, we are determined to make even greater
contributions to society while growing rapidly.
* As was explained in the announcement of the Medium-term Management Plan 2026, business segments havebeen reorganized beginning with 2022. Based on the goal of making services another major business category inaddition to the current core manufacturing category, the Human Resources and Education Business is now
divided into two sectors. Products Human Resources Business is staffin g services mainly for manufacturing andServices Human Resources Business is staffing services mainly for the service sector. Other Businesses has beenrenamed the Agricultural Park Business and has the purpose of making a significant contribution to socie ty
regarding the environment.
Segment information for the first nine months of 2021 has been restated for consistency with the new segments tofacilitate year-to-year comparisons.
Business segment sales were as follows.
Products Human Resources Business
Regarding the Products Human Resources business in the mainstay manufacturing sector, sales of electrical andelectronic components and smartphone-related sales showed a slight slowdown over the previous year whileautomotive and other sectors grew substantially due to a business portfolio strategy driven by accurate marketing.
Overall, sales and profits increased both year-on-year and compared to the plan.
In addition to an increase in contracting and team dispatch projects, which are our strengths, we hav e acquiredlarge-scale projects, shifted to high unit-price projects, and improved retention rates and productivity throughpersonnel training and digital transformation (DX). These have all contributed to improving businessperformance.
As regards recruitment, having positioned this fiscal year as one for investment in the first year of our
medium-term management plan, we steadily increased employee numbers by promoting investment in hiring, andour capacity to respond to each type of order has led to an improvement in performance. In addition, we steadily
advanced preparations for the next fiscal year and beyond.
As a result, sales were 64,386 million yen, up 26.2% year on year (up 1.4% vs. plan) and segment profit increased
39.1% to 3,206 million yen (up 0.3% vs. plan).

2

WORLD HOLDINGS CO., LTD. (2429) Financial Results for the Third Quarter of 2022

Services Human Resources BusinessIn the Services HR business, in addition to progress in developing new bases in the core logistics sector, thetourism sector saw steady progress in collaborative projects with the JTB Group while government-related special
demand factors through the first half of the fiscal year also contributed to increases in sales and income, both
year-on-year and when compared to the plan.
In addition, as the Covid pandemic subsides, orders in the hospitality sales and tourism sectors are on the rise,
and the logistics sector will also enter a busy season at the end of the year. Accordingly, we have focused onstrengthening recruitment and training managers while steadily advancing preparations for the next fi scal year
and beyond.
Sales were 31,330 million yen, up 30.9% year on year (up 0.2% vs. plan) and segment profit increased 53.1% to880 million yen (up 28.4% vs. plan).
Real Estate BusinessThis business is operating with caution because real estate prices in Japan remain high. However, by seizing theright timing for sales, we sold and delivered more condominiums and business sites, mainly in the development
sector, than planned at the beginning of the fiscal year. As a result, sales and earnings increased.
We are purchasing real estate with caution while monitoring changes in the real estate market. We are making
steady progress with the acquisition of properties that will generate sales in 2023 and afterward by using M&A
activities, expertise for the creation of commercial properties and other core real estate strengths.
Sales were 26,889 million yen, up 57.5% year on year (down 1.2% vs. plan), and there was a segment profit of
2,078 million yen, up 127.4% (up 7.0% vs. plan).
Information and Telecommunications Business
The mobile phone shop business is undergoing another phase of significant changes because of lower rates at all
mobile phone communication carriers, accompanied by new plans and other events. Sales and earnings were
down due to lower sales per user and a decline in fee income caused mainly by revisions to the terms for fees. As
the role of stores in the mobile phone agency sector changes, we will continue to build a network of outstanding
stores rooted in the communities where they are located and strengthe n the corporate solutions business and takeother steps to create a powerful portfolio of businesses. The goal is to receive the benefits of being one of thesurvivors in the mobile phone shop sector.
Sales were 6,476 million yen, down 11.2% year on year (up 0.1% vs. plan), and there was a segment profit of 53
million yen, down 59.8% (down 8.1% vs. plan).
Agricultural Park Business
The agricultural park business was affected by typhoons and bad weather, mainly during holidays, in addition to
the seventh wave of the Covid disaster, but with appropriate measures to attract visitors by taking advantage ofpark facilities that were not crowded, visitor numbers returned to pre -Covid levels and sales and earnings bothrose. Additionally, we exploited our accumulated facility management and operational expertise, and pressed
forward with preparations for acquiring a new managed facility following the Ohashi Kogen International
Exchange Village, which began operation in April as a designated management project .
Sales were 3,264 million yen, up 45.6% year on year (down 1.6% vs. plan), and there was a segment profit of 145
million yen, compared with a segment loss of 123 million yen in the first nine months of 2021 (down 43.9% vs.
plan).

3

WORLD HOLDINGS CO., LTD. (2429) Financial Results for the Third Quarter of 2022

(2) Explanation of Financial Position
AssetsTotal assets increased 23,227 million yen from the end of 2021 to 120,496 million yen at the end of the third
quarter of 2022. This was mainly due to increases of 4,615 million yen in cash and deposits, 2,039 million yen inreal estate for sale, 10,120 million yen in real estate for sale in process and 3,646 million yen in goodwill.
Liabilities
Total liabilities increased 20,549 million yen from the end of 2021 to 84,591 million yen. This was mainly due toincreases of 9,335 million yen in short-term borrowings and 9,202 million yen in long-term borrowings.
Net assets
Net assets increased 2,678 million yen from the end of 2021 to 35,905 million yen, mainly due to increases of
2,495 million yen in retained earnings and 99 million yen in non-controlling interests.
(3) Explanation of Consolidated Forecast and Other Forward-looking Statements
World Holdings maintains its full-year consolidated forecasts that were announced in the “Notice of Differences
between First-half Forecast and Results of Operations and Revisions to Consolidated Forecasts (Japanese versionony)” dated August 9, 2022.

4

WORLD HOLDINGS CO., LTD. (2429) Financial Results for the Third Quarter of 2022

2. Quarterly Consolidated Financial Statements and Notes(1) Quarterly Consolidated Balance Sheet(Millions of yen)
Third quarter of 2022
(As of Sep. 30, 2022)

2021(As of Dec. 31, 2021)
AssetsCurrent assets
Cash and deposits

30,74935,365

Notes and accounts receivable-trade

15,706

16,899794

1,004

Real estate for sale

6,221

8,260

Work in process

126

164

Real estate for sale in process

28,82838,949

Other

3,663

3,940

(3)

(9)

86,088104,575

5,466

6,029

Goodwill

592

4,238

Other

184

194

Total intangible assets

776

4,433

Investment securities

1,425

1,526

Deferred tax assets

1,831

2,017

Leasehold and guarantee deposits

1,051

1,198

Merchandise and finished goods

Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets

Investments and other assets

Other

868

956

Allowance for doubtful accounts

(239)

(240)

Total investments and other assets

4,938

5,458

Total non-current assets
Total assets

11,18015,921

97,269120,496

1,263

1,000

Liabilities
Current liabilities
Notes and accounts payable-trade
Accounts payable-real estate business

924

1,126

Short-term borrowings

25,45034,786

Accrued expenses

7,010

8,213

Advances received

1,539

1,492

Income taxes payable

1,584

2,238

Accrued consumption taxes

2,796

2,590

Provision for bonuses

105

885

Other

6,510

3,675

Total current liabilities

47,18556,00913,754

22,957

172

185

2,380

2,968

547

2,470

16,85628,58164,042

84,591

Non-current liabilities
Long-term borrowings
Provision for retirement benefits for directors (andother officers)
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities

5

WORLD HOLDINGS CO., LTD. (2429) Financial Results for the Third Quarter of 2022

(Millions of yen)
Third quarter of 2022
(As of Sep. 30, 2022)

2021(As of Dec. 31, 2021)
Net assets
Shareholders’ equity
Share capital

1,250

1,282

Capital surplus

1,449

1,472

Retained earnings

28,90831,404

Treasury shares

(119)

(119)

Total shareholders’ equity

31,48934,040

Accumulated other comprehensive income
Valuation difference on available-for-sale securities

15

6

Foreign currency translation adjustment

27

71

Remeasurements of defined benefit plans

(31)

(37)

11

40

93

92

Total accumulated other comprehensive income
Share acquisition rights
Non-controlling interests

1,631

1,731

Total net assets

33,22635,90597,269120,496

Total liabilities and net assets

6

WORLD HOLDINGS CO., LTD. (2429) Financial Results for the Third Quarter of 2022

(2) Quarterly Consolidated Statements of Income and Comprehensive Income(Quarterly Consolidated Statement of Income)(For the Nine-month Period)(Millions of yen)First nine months of 2022
(Jan. 1 – Sep. 30, 2022)

First nine months of 2021
(Jan. 1 – Sep. 30, 2021)
Net sales
Cost of sales

101,533
84,066132,346
109,615Gross profit

17,46722,730

Selling, general and administrative expenses

13,351

16,109Operating profit

4,115

6,621

259

120

5

3

161

182

425

306

126
52

158
32

179

190

4,362

6,736

1
42

-

43

-

Profit before income taxes

4,405

6,736

Income taxes

1,114

2,700

Profit

3,290

4,035

Non-operating income
Subsidy income
Income of support to investment in property andequipment
Other
Total non-operating income
Non-operating expenses
Interest expenses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Casualty insurance income
Gain on extinguishment of tie-in shares
Total extraordinary income

Profit attributable to non-controlling interests
Profit attributable to owners of parent

7

140

151

3,150

3,883

WORLD HOLDINGS CO., LTD. (2429) Financial Results for the Third Quarter of 2022

(Quarterly Consolidated Statement of Comprehensive Income)(For the Nine-month Period)First nine months of 2021
(Jan. 1 – Sep. 30, 2021)(Millions of yen)First nine months of 2022
(Jan. 1 – Sep. 30, 2022)

3,290

4,035

Valuation difference on available-for-sale securities

40

(9)

Foreign currency translation adjustment

24

63

Remeasurements of defined benefit plans, net of tax

2(5)

Total other comprehensive income

68

48

3,358

4,084

3,210

3,913

148

171

ProfitOther comprehensive income

Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

8

WORLD HOLDINGS CO., LTD. (2429) Financial Results for the Third Quarter of 2022

(3) Notes to Quarterly Consolidated Financial Statements
Going Concern Assumption
Not applicable.
Significant Changes in Shareholders’ Equity
Not applicable.
Changes in Significant Subsidiaries during the Period
e-support, Inc., which was classified as a significant subsidiary of World Holdings, is no longer included in the
consolidated financial statements from the second quarter of 2022 because a reduction of capital took place onJune 1, 2022.
Dimples Co., Ltd. is included in the consolidated financial statements following the purchase by World Holdingsof its stock on February 28, 2022, which is the first quarter of 2022. This change is not classified as a change in asignificant subsidiary.
World Style Co., Ltd., which was established on May 17, 2022 when a comp any was split into two companies, isincluded in the consolidated financial statements in the second quarter of 2022 even though this company is not a
specified subsidiary.
Creative Co.,Ltd. is included in the consolidated financial statements following t he purchase by World Holdingsof its stock on June 30, 2022, which is the second quarter of 2022. This change is not classified as a change in asignificant subsidiary.
Wakabayashi Hozen Co., Ltd., which is not a specified subsidiary, became a consolidate d subsidiary in the firstquarter of 2022. In the second quarter of 2022, Wakabayashi Hozen and its subsidiary Wakabayashi Fudosan Co.,
Ltd. were removed from the scope of consolidation because these companies were absorbed by World ResidentialCo., Ltd. on May 2, 2022 and subsequently dissolved.
Application of Special Accounting Methods for Presenting Quarterly Consolidated Financial Statements
Calculation of tax expense
The tax expenses are calculated by first reasonably estimating the effective tax rate after the application of tax
effect accounting with respect to profit before income taxes for the fiscal year in which the quarter under review
falls, and multiplying that rate by the profit before income taxes for the quarter under review. However, World
Holdings uses legally stipulated effective tax rates to calculate tax expenses when the use of estimated tax rates
produces a clearly irrational result.
Changes in Accounting Policies
Application of the Accounting Standard for Revenue Recognition
World Holdings has applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, March
31, 2020) from the beginning of the first quarter of 2022. Based on this standard, revenue expected to be received
in exchange for the provision of goods and services is recognized when the control of the promised goods andservices is transferred to customers.
For the application of the revenue recognition accounting standard, in accordance with the transitional treatmentin the proviso to paragraph 84 of this standard, the cumulative effect of the retrospective application of the new
accounting standard, if it is applied prior to the first quarter of 2022, is added to or subtracted from retained
earnings at the beginning of the first quarter of 2022. The new standard is then applied beginning with thisamount of retained earnings. However, World Holdings has applied the method prescribed in paragraph 86 of thisstandard and has not retrospectively applied the new accounting policy to contracts in which almost all revenue
were recognized in accordance with the previous treatment prior to the beginning of the first quarter of 2022. In
addition, due to the application of the method prescribed in paragraph 86-1 of the new standard, for contract
revisions made prior to the beginning of the first quarter of 2022, an accounting treatment based on all contract
revisions is used. The cumulative effect is added to or subtracted from retained earnings at the beginning of the9WORLD HOLDINGS CO., LTD. (2429) Financial Results for the Third Quarter of 2022

first quarter of 2022.
The effect of this change on profit in the first nine months of 2022 is insignificant. There is no cumulative effectof the application of this standard on retained earnings at the beginning of the current fiscal year.
Furthermore, in accordance with the transitional treatment prescribed in Paragraph 28 -15 of the AccountingStandard for Quarterly Financial Reporting (ASBJ Statement No. 12, March 31, 2020), World Holdings has notpresented information on revenue from contracts with customers broken down for the first nine month of 2021.
Application of the Accounting Standard for Fair Value Measurement
World Holdings has applied the Accounting Standard for Fair Value Measurement (ASBJ Statement No. 30, July4, 2019) from the beginning of the first quarter of 2022, and has applied the new accounting policies set forth by
the Accounting Standard for Fair Value Measurement prospectively in accordance with the transitional treatmentin the paragraph 19 of the Accounting Standard for Fair Value Measurement and paragraph 44 -2 of the
Accounting Standard for Financial Instruments (ASBJ Statement No. 10, July 4, 2019).
There is no effect of the application of these standards on the quarterly consolidated financial statements.

10

WORLD HOLDINGS CO., LTD. (2429) Financial Results for the Third Quarter of 2022

Segment Information
I. First nine months of 2021 (Jan. 1 – Sep. 30, 2021)
1. Information related to net sales and profit or loss for each reportable segment(Millions of yen)
Reportable segment
Products
Human
Resources
Business

Services
Human
Resources
Business

Real EstateBusiness

Information
andTelecommunications
Business

Agricultural
Park
Business

Subtotal

Amounts shownon quarterly
Adjustments
consolidated(Note 1)statement ofincome(Note 2)

Net sales
Sales toexternal
50,99923,926
17,068
7,296
2,242
101,533
101,533
customers
Inter-segment
sales and
394
136
8
15
7
561
(561)
transfers
Total
51,39424,063
17,0777,311
2,249
102,095(561)
101,533
Segment
2,305
575
914
133
(123)
3,805
310
4,115
profit (loss)
Notes: 1. The -310 million yen adjustment to segment profit (loss) includes elimination for inter-segment transactions of 21
million yen, and 288 million yen in corporate expenses that cannot be allocated to any of the reportable segments.
Corporate expenses mainly consist of general and administrative expenses that are not attributable to any of thereportable segments.
2. Segment profit (loss) is adjusted to be consistent with operating profit shown on the quarterly consolidated
statement of income.

2. Information related to impairment losses on non-current assets or goodwill, etc. for each reportable segment
Impairment losses related to non-current assets
Not applicable.
Significant change in goodwill
There is no significant change.
Significant gain on bargain purchaseNot applicable.
II. First nine months of 2022 (Jan. 1 – Sep. 30, 2022)
1. Information related to net sales and profit or loss for each reportable segment(Millions of yen)
Reportable segment
Products
Human
Resources
Business

Services
Human
Resources
Business

Real EstateBusiness

Information
andTelecommunications
Business

Agricultural
Park
Business

Subtotal

Amounts shownon quarterly
Adjustments
consolidated(Note 1)statement ofincome(Note 2)

Net sales
Sales toexternal
64,386
31,33026,8896,476
3,264
132,346
132,346
customers
Inter-segment(679)
sales and
424
133
72
34
14
679
transfers
Total
64,81031,463
26,961
6,511
3,278
133,025(679)
132,346
Segment
3,206
880
2,078
53
145
6,365
256
6,621
profitNotes: 1. The 256 million yen adjustment to segment profit includes elimination for inter-segment transactions of -265
million yen, and 522 million yen in corporate expenses that cannot be allocated to any of the reportable segments.
Corporate expenses mainly consist of general and administrative expenses that are not attributable to any of thereportable segments.
2. Segment profit is adjusted to be consistent with operating profit shown on the quarterly consolidated statement ofincome.

11

WORLD HOLDINGS CO., LTD. (2429) Financial Results for the Third Quarter of 2022

2. Information related to impairment losses on non-current assets or goodwill, etc. for each reportable segment
Impairment losses related to non-current assets
Not applicable.
Significant change in goodwill
There is no significant change.
Significant gain on bargain purchaseNot applicable.
3. Information related to changes in reportable segments
Changes in reportable segments
In the first quarter of 2022, World Holdings revised reportable segments as follows. In previous years, thereportable segments were Factory Staffing, Technology Staffing, R&D Staffing, Sales & Marketing Staffing,
Real Estate, and Information and Telecommunications. Based on the goal of making services another major
business category in addition to the current core manufacturing category, the Human Resources andEducation Business is now divided into two sectors. Products Human Resources Business is staffin g services
mainly for manufacturing and Services Human Resources Business is staffing services mainly for the service
sector. Other Businesses has been renamed the Agricultural Park Business. This business operates large
nature parks for the purpose of making a significant contribution to society regarding the environment.
Segment information for the first nine months of 2021 is shown based on the segment classification after thechange.

This financial report is solely a translation of “Kessan Tanshin” (in Japanese, including attachments), which has been
prepared in accordance with accounting principles and practices generally accepted in Japan, for the convenience of readers
who prefer an English translation.

12