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.

May 10, 2024

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2024
(Under Japanese GAAP)
Company name:
Imperial Hotel, Ltd.
Listing:
Tokyo Stock Exchange
Securities code:
9708
URL:
https://www.imperialhotel.co.jp/en?stt_lang=en
Representative:
Hideya Sadayasu, President
Inquiries:
Ryuta Suzuki, Director of Finance Department
Telephone:+81-3-3504-1111
Scheduled date of annual general meeting of shareholders:June 25, 2024
Scheduled date to commence dividend payments:
June 26, 2024
Scheduled date to file annual securities report:
June 26, 2024
Preparation of supplementary material on financial results:
Yes
Holding of financial results briefing:
None(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the fiscal year ended March 31, 2024 (from April 1, 2023 to March 31,2024)(1) Consolidated operating results(Percentages indicate year-on-year changes.)

Net salesOperating profit

Profit attributable toowners of parent

Ordinary profit

Fiscal year ended

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%March 31, 2024

53,335

21.8

2,839

715.9

3,296

99.4

3,377

73.1

March 31, 2023

43,772

53.0

348

—

1,652

—

1,951

—

Note: Comprehensive income

For the fiscal year ended March 31, 2024:
For the fiscal year ended March 31, 2023:

Basic earnings
per share

Diluted earnings
per share

Fiscal year endedYen

March 31, 2024

28.46

March 31, 2023

16.45

¥3,748 million¥2,267 million

Return on equity

Yen[65.3%][—%]

Ratio of ordinary
profit to total assets

Ratio of operating
profit to net sales%%%

—

8.1

5.2

5.3

—

5.0

2.7

0.8

Reference:

Share of profit (loss) of entities accounted for using equity method
For the fiscal year ended March 31, 2024:¥34 million
For the fiscal year ended March 31, 2023:¥92 million
EBITDA (ordinary profit + interest expenses + depreciation and amortization)
For the fiscal year ended March 31, 2024:¥5,813 million
For the fiscal year ended March 31, 2023:¥4,365 million

Note:

Imperial Hotel conducted a 2-for-1 share split that was effective as of October 1, 2023.
Accordingly, basic earnings per share is calculated on the assumption that this share split was conducted at the beginningof the previous consolidated fiscal year.

(2) Consolidated financial position
Total assets
As ofNet assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen

March 31, 2024

65,70643,03665.5%

362.72

Yen

March 31, 2023

61,74340,00064.8

337.13Reference:
Note:

EquityAs of March 31, 2024:¥43,036 million
As of March 31, 2023:¥40,000 million
Imperial Hotel conducted a 2-for-1 share split that was effective as of October 1, 2023.
Accordingly, net assets per share is calculated on the assumption that this share split was conducted at the beginning of
the previous consolidated fiscal year.

(3) Consolidated cash flows
Cash flows fromoperating activities

Cash flows frominvesting activities

Cash and cash
equivalents at end of
periodCash flows fromfinancing activities

Fiscal year ended

Millions of yen

Millions of yen

Millions of yen

Millions of yen

March 31, 2024

4,201(3,073)(718)

27,738March 31, 2023

3,938(1,584)(240)

27,3292. Cash dividends
Annual dividends per share
First
SecondThird
quarter-end quarter-end quarter-end
Yen
Fiscal year ended

March 31, 2023
Fiscal year ended

March 31, 2024

Yen

Fiscalyear-end

Yen

Total cash
dividends(Total)

Total

Yen

Ratio ofPayout ratio dividends to(Consolidated) net assets(Consolidated)

Yen Millions of yen%%

—

0.00

—

8.00

8.00

474

24.3

1.2—

4.00

—

4.00

—

712

21.1

1.7—2.00

—4.00

6.00

Fiscal year ending

March 31, 2025

79.1

(Forecast)

Imperial Hotel conducted a 2-for-1 share split that was effective as of October 1, 2023.
Concerning the dividend per share for the end of fiscal year ended March 31, 2024, we have considered the impact of the sharesplit.
Without considering the share split, the dividend per share for the end of fiscal year ended March 31, 2024 would be ¥8, and theannual dividend per share would be ¥12.

3. Consolidated financial forecast for the fiscal year ending March 31, 2025 (April 1, 2024 – March 31,2025)(Percentages indicate year-on-year changes in the full year row and the ratio of change compared to the same quarter of the previousyear in the quarter row)
Net sales

Operating profit

Ordinary profit

Millions of yen%

Millions of yen% Millions of yen

Second quarter(total)24,000(1.0)

(900)

—

(700)

Full year

52,000(2.5)

600(78.9)

950

Profit attributable toowners of parent%

Millions of yen%Basicearnings pershareYen—(750)—(6.32)(71.2)

900(73.3)

7.59

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change
in scope of consolidation): None
Newly included: — companies
Excluded:— companies(2) 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: Yes(iii) Changes in accounting estimates: None(iv) Restatement: None
(3) Number of issued shares (common shares)(i)

Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2024

118,800,000 shares

As of March 31, 2023

118,800,000 shares(ii) Number of treasury shares at the end of the period
As of March 31, 2024

151,976 shares

As of March 31, 2023

151,976 shares(iii) Average number of shares outstanding during the period

Note:

Fiscal year ended March 31, 2024

118,648,024 sharesFiscal year ended March 31, 2023

118,648,024 shares

Imperial Hotel conducted a 2-for-1 share split that was effective as of October 1, 2023.
Accordingly, number of issued shares is calculated on the assumption that this share split was conducted at the beginningof the previous consolidated fiscal year.

[Reference] Overview of non-consolidated financial results
1. Non-consolidated financial results for the fiscal year ended March 31, 2024 (from April 1, 2023 toMarch 31, 2024)(1) Non-consolidated operating results(Percentages indicate year-on-year changes.)

Net sales

Operating profit

Ordinary profit

ProfitFiscal year ended

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%March 31, 2024

52,84521.9

2,729

652.8

3,199

113.6

3,319

80.9

March 31, 2023

43,368

53.1

362

—

1,497

—

1,835

—

Basic earnings
per share

Diluted earnings
per share

Fiscal year ended

Yen

March 31, 2024

27.97

—

March 31, 2023

15.46

—

Note:

Yen

Imperial Hotel conducted a 2-for-1 share split that was effective as of October 1, 2023.
Accordingly, basic earnings per share is calculated on the assumption that this share split was conducted at the beginningof the previous consolidated fiscal year.

(2) Non-consolidated financial position
Total assets
As ofNet assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen

March 31, 2024

63,611

41,42365.1

349.05

March 31, 2023

59,64738,36564.3

323.28Reference:

Note:

EquityAs of March 31, 2024:
As of March 31, 2023:%

Yen¥41,423 million¥38,365 million

Imperial Hotel conducted a 2-for-1 share split that was effective as of October 1, 2023.
Accordingly, net assets per share is calculated on the assumption that this share split was conducted at the beginningof the previous consolidated fiscal year.

* Financial results reports are exempt from audit conducted by certified public accountants or an audit
corporation.
* Proper use of earnings forecasts, and other special matters- Statements about the future recorded herein are based on the information we currently possess and certain suppositions we deem
to be reasonable, and actual performance, etc. may differ greatly due to various factors.