Note: This document has been translated from the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.
February 14, 2024

Summary of Consolidated Financial Results
for the First Quarter Ending September 30, 2024
(Based on Japanese GAAP)
Company name:Open House Group Co., Ltd.

Listing:

Tokyo Stock Exchange

Securities code:

3288

URL:

https://openhouse-group.co.jp/ir/en/

Representative:

Masaaki Arai, President and CEO

Inquiries:

Kotaro Wakatabi, Senior Managing Director and CFO

Scheduled date to file quarterly securities report:

February 14, 2024

Scheduled start date of dividend payment―

Preparation of supplementary material on financial results: Yes
Holding of financial results briefing:

1.

No(Yen amounts are rounded down to millions, unless otherwise noted.)

Consolidated financial results for the first quarter of the fiscal year ending September 30, 2024
(October 1, 2023 to December 31, 2023)(1) Consolidated Operating Results (Cumulative)
Net sales(Percentages indicate year-on-year changes.)

Operating profit

Ordinary profit

Profit attributable toowners of parent

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

1Q FY 2024

304,84622.8

32,643

6.4

32,262

9.3

32,99468.0

1Q FY 2023

248,198

5.5

30,668(12.5)

29,514(16.7)

19,643(13.3)

Note: Comprehensive income:For the first quarter of the fiscal year ending September 2024 30,844 million yen (101.2%)
For the first quarter of the fiscal year ending September 2023: 15,326 million yen (-41.2%)

Basic earnings
per share

Diluted earnings
per shareYenYen

1Q FY 2024

274.11273.70

1Q FY 2023

163.04

162.75(2) Consolidated financial position
Total assets
As ofNet assets

Equity-to-asset ratio

Millions of yen

Millions of yen%

1Q FY 2024

1,291,262

499,948

33.3

FY 2023

1,198,668

480,416

34.7

Reference:

Equity:As of September 2024: ¥ 430,573 million
As of September 2023: ¥ 415,855 million| 1

Open House Group Co., Ltd. (3288)

2.

Cash dividends
Annual dividends per share
1Q-end2Q-end3Q-endYear-end

TotalYen

Yen

Yen

Yen

Yen

FY 2023－72.00－92.00164.00FY 2024－83.00－83.00166.00FY 2024 (Forecast)

Note: Revisions to the forecast of cash dividends most recently announced: None

3. Forecast of consolidated operating results for FY 2023 (October 1, 2023 to September 30, 2024)

Net sales
Millions of yen(Percentages indicate year-on-year changes)
BasicProfit attributable toOrdinary profit
earnings
owners of parent
per share

Operating profit% Millions of yen%

Millions of yen%

Millions of yen%

Yen

2Q (Cumulative)

594,200

9.7

55,100(20.9)

52,300(22.6)

46,7005.1

387.96

Full year

1,300,000

13.2

124,000(12.9)

120,000(12.4)

92,5000.5

768.45

Note: Revision to the forecast of consolidated results most recently announced: None| 2Open House Group Co., Ltd. (3288)

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scopeof consolidation): Yes
Newly included: 1 company (Sanei Architecture Planning Co., Ltd.)(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements:
Yes(3) Changes in accounting policies, changes in accounting estimates, and restatement(i)

Changes in accounting policies due to revisions to accounting standards and other regulations: None(ii)

Changes in accounting policies due to other reasons: None(iii)

Changes in accounting estimates: None(iv)Restatement: None

(4) Number of issued shares (common shares)
(i)

(ii)

Total number of issued shares at the end of the period (including treasury shares)
As of 1Q FY 2024

120,588,100 shares

As of September 30, 2022

120,588,100 shares

Number of treasury shares at the end of the period
As of 1Q FY 2024
As of September 30, 2023

(iii)

706,417 shares
3,515 shares

Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Three months ended December 31, 2024

120,372,226 shares

Three months ended December 31, 2023

120,484,415 shares* Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or anaudit corporation.
* Proper use of earnings forecasts, and other special matters
The forecasts and other forward-looking statements contained in this summary are based on assumptions frominformation available to the Company at the time of disclosure and those deemed to be reasonable. Actual results may
differ significantly from the forecast due to various unpredictable reasons.

| 3Open House Group Co., Ltd. (3288)

1. Qualitative Information Regarding Current Quarterly Results(1) Overview of Business Performance
The Group (the Company, consolidated subsidiaries, and equity method affiliates) has included Sanei Architecture PlanningCo., Ltd. (hereinafter referred to as "Meldia", which changed its company name to MELDIA CO., LTD on March 1, 2024) as aconsolidated subsidiary from the first quarter of the consolidated fiscal year.
The performance for the first quarter of the consolidated fiscal year showed sales of 304,846 million yen ( increase of 22.8%
compared to the same period of the previous year), operating profit of 32,643 million yen (an increase of 6.4%), ordinary
profit of 32,262 million yen (increase of 9.3%), and quarterly net profit attributable to owners of parent of 32,994 million
yen (an increase of 68.0%).
Overview by segment is as follows.
From the first quarter of the consolidated fiscal year, we have changed the classification of reportable segments due to theconsolidation of Meldia as a subsidiary. For more details on segment information, please refer to "2. Consolidated
Quarterly Financial Statements (3) Notes regarding consolidated quarterly financial statement (Segment and otherinformation)".
(Single-Family Homes Related Business)
In the single-family homes related business, there continues to be high demand for single-family homes in urban areas,and sales have been progressing as planned.
As a result, sales were 169,828 million yen (increase of 19.8% year on year), and operating profit was 17,959 million yen(increase of 8.9%).
(Condominium Business)
In the condominium business, most property deliveries will occur in the fourth quarter of the consolidated fiscal year,
leading to fewer deliveries in the first quarter. Nevertheless, sales contracts, which are crucial for future performance,remains steady.
As result, sales were 3,730 million yen (increase of 11.4% year on year), and operating loss was 731 million yen (comparedto an operating loss of 432 million yen year on year).
(Property Resale Business)In the property resale business, although the properties delivered during the first quarter of the consolidated fiscal year
were limited, the high demand for rental apartments and office buildings, which are investment targets for corporations
and affluent individuals that our group serves, continues against the backdrop of monetary easing policies.
As a result, sales were 32,957 million yen (decrease of 25.9% year on year), and operating profit was 4,257 million yen(decrease of 21.6%).
(Others)
In other segment, there is high investment demand for U.S. real estate for the purpose of asset diversification among theaffluent in Japan, and sales have been progressing smoothly.
As a result, sales were 22,706 million yen (increase of 16.8% year on year), and operating profit was 2,096 million yen(decrease of 7.6%).
(PRESSANCE CORPORATION)PRESSANCE CORPORATION focused on the sale of investment condominiums and condominiums for families in prime
locations in its main sales areas of Kinki and Tokai-Chukyo regions.
As a result, sales were 40,999 million yen (increase of 4.6% year on year), and operating profit was 8,031 million yen(increase of 17.6%).

| 4Open House Group Co., Ltd. (3288)

(Meldia)
Meldia focused on its main business of single-family homes, it continued to pursue designs tailored to the customers'
lifestyles and offered products that responded to changes in the customers' needs for their homes.
As a result, sales were 34,620 million yen (This is a newly set up segment from the first quarter of the consolidated fiscal
year due to the consolidation of Meldia Co., Ltd. as a subsidiary, year on year comparison is not shown), and operating
profit was 1,330 million yen.
(2) Overview of Financial Condition
As of the end of the first quarter of the consolidated fiscal period, total assets were 1,291,262 million yen, an increase of
92,594 million yen year on year. This is mainly due to an increase of 101,299 million yen in the combined real estate for saleand real estate for sale in progress.
Total liabilities were 791,314 million yen, an increase of 73,062 million yen year on year. This is mainly due to a decrease of
13,791 million yen in unpaid corporate taxes, etc., while short-term borrowings, long-term borrowings (including long-termborrowings scheduled to be repaid within one year), and corporate bonds (including corporate bonds scheduled to beredeemed within one year) increased by a total of 85,394 million yen.
Total net assets were 499,948 million yen, an increase of 19,532 million yen year on year. This is mainly due to an increase of
21,900 million yen in retained earnings.
(3) Overview of Future Forecast Information such as Consolidated Performance Forecast
There is no change to the consolidated performance forecast for the fiscal year ending September 2024, which wasannounced on November 14, 2023.

| 5Open House Group Co., Ltd. (3288)

Consolidated Quarterly Financial Statements
1) Consolidated Quarterly Balance Sheets(Millions of yen)
End of FY 2023
(as of September 30, 2023)
AssetsCurrent assets
Cash and deposits
Trade accounts receivable and contract assets
Real estate for sale
Real estate for sale in process
Operating loans
OtherAllowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Notes payable – trade
Trade accounts payable
Electronically recorded obligations - operating
Short-term borrowings
Current portion of bonds payable
Current portion of long-term borrowings
Income taxes payable
Provisions
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Allowance liabilities
Retirement benefit liability
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Share capital
Capital surplusRetained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Cumulative adjustment of retirement benefits
Foreign currency translation adjustment
Total accumulated other comprehensive income
Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets

End of FY 2024 1Q(as of December 31, 2023)

401,879
4,776
147,517493,398
49,301
34,105(549)
1,130,769

354,480
17,698201,578
540,978
54,19342,085(819)
1,210,322

28,4562,69036,751
67,898
1,198,668

33,8302,998
44,11180,9401,291,262

1,631
34,92911,860182,734
10,24238,45722,518
6,034
65,118373,526

1,649
44,925
8,565
235,936
11,01251,457
8,726
3,611
59,100424,985

121343,582
―
326
230
464
344,725
718,251

4,244
357,881
47
833
366
2,955
366,328
791,314

20,11019,767
361,583(18)
401,443

20,11019,744383,484(2,946)420,392

42(34)
2
10,212
10,180788
68,587499,948
1,291,262

14,36814,411752
63,808480,416
1,198,668| 6Open House Group Co., Ltd. (3288)

2)

Consolidated Quarterly Statements of Income and Consolidated Quarterly Statements of Comprehensive
IncomeConsolidated Quarterly Statements of Income

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Rental income from buildings
Gain on sale of investment securities
Share of profit of entities accounted for using equity
methodOtherTotal non-operating income
Non-operating expenses
Interest expenses
Commission expenses
Share of loss of entities accounted for using equity
methodForeign exchange losses
Other
Total non-operating expenses
Ordinary profit
Extraordinary profit
Gain on negative goodwill
Total Extraordinary profit
Profit before income taxes
Income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

Three months ended
December 31, 2022
(from October 1, 2022 toDecember 31, 2022)
248,198
200,578
47,61916,951
30,668(Millions of yen)Three months ended
December 31, 2023
(from October 1, 2023 toDecember 31, 2023)
304,846
252,462
52,383
19,74232,640

34
58
52
144

492
665
51―

112―

76479

286
1,496

979
19

1393
52―

4421
212
1,633
29,514

251
176
1,877
32,262――29,514
8,178
21,336
1,692
19,643

12,766
12,76645,0299,957
35,071
2,077
32,994| 7

Open House Group Co., Ltd. (3288)

Consolidated Quarterly Statements of Comprehensive Income

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Adjustment amount for retirement benefits
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

Three months ended
December 31, 2022
(from October 1, 2022 to
December 31, 2022)
21,336(Millions of yen)Three months ended
December 31, 2023
(from October 1, 2023 to
December 31, 2023)
35,05063(6,072)―(83)(4,138)2(0)0(6,009)15,326(4,218)30,844

13,63728,758

1,689

2,074

| 8Open House Group Co., Ltd. (3288)

3)

Notes regarding consolidated quarterly financial statement(Notes regarding on-going concern assumptions)Not applicable(Notes on significant changes in the amount of shareholders’ equity)
The Company acquired treasury stock based on the resolution of the Board of Directors held on November 14, 2023.
As a result, treasury stock increased by 2,928 million yen during the current first quarter consolidated cumulativeperiod.
(Changes in significant subsidiaries during the period)
From the first quarter of the consolidated accounting period, as a result of acquiring the shares of Sanei
Architectural Design Co., Ltd., the company and its affiliated companies have been included in the scope ofconsolidation.
(Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements)
Regarding tax expenses, we reasonably estimate the effective tax rate after applying tax effect accounting to theconsolidated net income before income taxes for the consolidated fiscal year including the current first quarter andmultiply the quarterly net income before income taxes by the estimated effective tax rate.
(Changes in accounting policies)
Not applicable| 9Open House Group Co., Ltd. (3288)

(Segment and other information)【Segment information】
I.
Three months ended December 31, 2022 (October 1, 2022 to December 31, 2022)
1.

Information on net sales, profit or loss, and other items by reportable segments（Millions of yen）
Reportable Segment
Single-family
Condominiums
homes related

Net sales
Net sales fromcontracts withcustomers
Other income
Net sales from outside
customers
Intersegment netsales and transfers
Total
Segment profit (loss)

Property
resaleOthers

PRESSANCECORPORATION

Total

Amount recorded inAdjustment consolidated quarterly(Note1)statements of income(Note2)

128,272

3,347

32,63018,46738,417221,1352

221,138

13,463―

11,847967

782

27,060―27,060141,735

3,347

44,477

19,43539,199248,195

2

248,198

―

―

55

94

―

150

(150)

―

141,735
16,484

3,347
(432)

44,533
5,429

19,5292,267

39,1996,827

248,346
30,577(147)
91

248,198
30,668(NOTE)
1. Adjustment of ¥ 91 million for segment profit (loss) includes intersegment elimination of ¥ 856 million
and corporate expenses of ¥ (765) million that is not distributed to the reportable segments. Corporate
expenses are primarily general and administrative expenses that do not belong to the reportablesegments.
2. Segment profit (loss) has been adjusted to operating profit described in consolidated quarterly
statements of income.

| 10Open House Group Co., Ltd. (3288)

II.

Three months ended December 31, 2023 (October 1, 2023 to December 31, 2023)
1. Information on Net sales, profit or loss, and other items by reportable segments（Millions of yen）
Reportable Segment
Single-family
homesrelatedNet sales
Net sales fromcontracts withcustomers
Other income

CondosProperty
resaleOthers

PRESSANCECORPORATION

MeldiaTotal

Adjustment(Note1)

Amount recordedin consolidated
quarterlystatements ofincome (Note2)

155,771

3,730

31,487

21,68240,011

29,443

282,1273

282,131

14,056

―

1,469

1,024

987

5,177

22,714―22,714

169,828

3,730

32,95722,70640,99934,620304,8423

304,846

358

―

143

57

―

2,711

3,270

(3,270)―

Total

170,186

3,730

33,10022,76440,99937,331

308,113(3,267)

304,846

Segment profit(Loss)17,959(731)

4,257

2,096

8,031

1,327

32,943(300)

32,643

Net sales fromoutsidecustomers
Intersegment
net sales andtransfers(NOTE)
1. Adjustment of ¥ (300) million for segment profit (loss) includes intersegment elimination of ¥ 656 million
and corporate expenses of ¥ (965) million that is not distributed to the reportable segments. Corporate
expenses are primarily general and administrative expenses that do not belong to the reportablesegments.
2. Segment profit (loss) has been adjusted to operating profit described in consolidated quarterlystatements of income.
2.

Notes relating to changes in reportable segments etc.
The Group has changed its segment classification from the first quarter of the current consolidated accounting period.
With the addition of Sanei Architecture Planning Co., Ltd. to a consolidated subsidiary in October 2023, we have added"Meldia" as a new segment. As a result of the above changes, the reportable segments of our Group has changed to sixsegments: ``Single-family homes related,'' ``Condominiums,'' ``Property resale,'' ``Others,'' ``PRESSANCE CORPORATION,''and ``Meldia''.
(Significant gain on negative goodwill)In the Meldia segment, we recognized a gain on negative goodwill due to acquiring the shares of Sanei Architecture
Planning Co., Ltd. and making it a consolidated subsidiary.
The amount of gain on negative goodwill recorded due to this event was 12,766 million yen. Please note that the gain
on negative goodwill is an extraordinary profit and is therefore not included in the segment profit above.
(Significant subsequent events)
Not applicable| 11Open House Group Co., Ltd. (3288)