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, 2022

Consolidated Financial Results for the Three Months Ended December 31, 2021
(Under Japanese GAAP)
Company name:
Listing:
Securities code:
URL:
Representative:
Inquiries:
Scheduled date to file quarterly securities report:
Supplementary material on financial results:
Holding of quarterly financial results briefing:

Open House Group Co., Ltd.
Tokyo Stock Exchange3288
https://openhouse-group.co.jp/ir
Masaaki Arai, President and CEO
Kotaro Wakatabi, Senior Managing Director and CFO
February 14, 2022
YesNone(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the three months ended December 31, 2021
(October 1, 2021-December 31, 2021)(1) Consolidated operating results (cumulative)
RevenueThree months ended
December 31, 2021
December 31, 2020

Operating income%
51.7
22.2

Millions of yen

235,255
155,119

Millions of yen

35,041
19,394

%
80.7
33.6

(% indicate year-on-year changes)
Profit attributable toOrdinary income
owners of parent
Millions of yen%
Millions of yen%
35,418 71.5
22,65352.6
20,647 47.0
14,842
51.6(Note) Comprehensive income: For the three months ended December 31, 2021: ¥26,057million [83.8%]
For the three months ended December 31, 2020: ¥14,174 million [38.5%]
Basic earnings
per share
Three months ended
December 31, 2021
December 31, 2020

Diluted earnings
per share
Yen

Yen

179.63117.96179.13117.46(2) Consolidated financial position
Total assets
As ofDecember 31, 2021
September 30, 2021
(Reference) Equity:

Net assets

Millions of yen

Equity-to-asset ratio

Millions of yen

885,694
879,913
As of December 31, 2021
As of September 30, 2021

%
35.0
33.4

364,026
347,143¥ 309,736 million¥ 293,809 million

2. Cash dividends
Annual dividends per share
1Q-endFY 2021
FY 2022
FY 2022 (Forecast)

2Q-end3Q-endYear-end

Total

Yen

Yen

Yen

Yen

Yen－－

50.00

－62.00112.0062.00－62.00124.00(Note) Revisions to the forecast of cash dividends most recently announced: None|1Open House Group Co., Ltd. (3288)

3.

Forecast of Consolidated Operating Results for FY2022(October 1, 2021-September 30, 2022)

Revenue

Operating income

Millions of yen% Millions of yen%(% indicate year-on-year changes)
Basic
Profit attributable toearnings
owners of parent
per share

Ordinary income
Millions of yen%

Millions of yen%

Yen

2Q (Cumulative)

446,700

22.7

56,90036.7

55,80037.1

35,9009.6

284.66

Full year

920,000

13.5

112,000

10.8

108,900

11.6

72,0003.5

570.91(Note) Revision to the forecast of consolidated results most recently announced:None*Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change inscope of consolidation): None
(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:

Yes

(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)

(iii)

Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2021

126,117,000 shares

As of September 30, 2021

126,117,000 shares

Number of treasury shares at the end of the period
As of December 31, 2021

3,441 shares

As of September 30, 2021

3,441 shares

Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Three months ended December 31, 2021

126,113,559 shares

Three months ended December 31, 2020

125,824,224 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
Consolidated business forecasts are based on assumptions from information available to management at the time ofdisclosure and those deemed to be reasonable. Actual results may differ significantly from forecast due to various
unpredictable reasons.

|2
Open House Group Co., Ltd. (3288)

Consolidated Quarterly Financial Statements1）Consolidated Quarterly Balance Sheets(Millions of yen)

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 borrowingsIncome taxes payable
Provisions
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Provision for share awards
Retirement benefit liability
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
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 FY2021(as of September 30, 2021)

End of FY2022 1Q(as of December 31, 2021)

337,731
1,929
90,402
337,726
36,87826,421(362)
830,727

328,874
2,199
82,525359,352
40,61023,063(389)
836,236

21,297
3,031
24,85649,185879,913

21,8283,090
24,53949,458885,694

1,166
20,8504,713
104,684242
57,142
18,2394,695
44,503
256,237

1,253
23,497
3,893
113,020242
47,426
9,677
2,679
42,401
244,09210,605
264,502
257
311
150
705
276,532
532,769

10,605
265,767
256
320
160
466
277,576
521,668

19,93929,068244,248(0)
293,256

19,93929,047259,177(0)308,164

12
540
552
551
52,782
347,143879,913

11
1,560
1,572
522
53,767364,026
885,694|3
Open House Group Co., Ltd. (3288)

2）Consolidated Quarterly Statements of Income and Consolidated Quarterly Statements of Comprehensive Income
Consolidated Quarterly Statements of Income(Millions of yen)Three months ended
December 31, 2020
(From October 1, 2020
to December 31, 2020)155,119

Three months ended
December 31, 2021
(From October 1, 2021
to December 31, 2021)
235,255

Cost of sales

126,925

184,620Gross profit

28,19450,635

Selling, general and administrative expenses

8,799

15,594

Operating profit

19,39435,041

Interest income

22

Dividend income

11715

Rental income from buildings
Share of profit of entities accounted for using
equity method
Foreign exchange gains

3430

1,928

429

Net sales

Non-operating income

－196

25

62

2,003

1,437

Interest expenses

573

916

Commission expenses

31111

Foreign exchange losses

83－

Other
Total non-operating income
Non-operating expenses

Other

6332

Total non-operating expenses

751

1,059

Ordinary profit

20,64735,418

Profit before income taxes

20,64735,418

Income taxes

5,799

10,379Profit14,84725,0385

2,384

14,842

22,653

Profit attributable to non-controlling interests
Profit attributable to owners of parent|4
Open House Group Co., Ltd. (3288)

Consolidated Quarterly Statements of Comprehensive Income(Millions of yen)Three months ended
December 31, 2020
(From October 1, 2020
to December 31, 2020)
ProfitThree months endedDecember 31, 2021
(From October 1, 2021
to December 31, 2021)

14,84725,038

8(1)

(684)

1,018

32(672)

1,019

Comprehensive income

14,174

26,057

Comprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable to noncontrolling interests

14,16923,672

52,384

Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income|5Open House Group Co., Ltd. (3288)

3) Notes to Consolidated Quarterly Financial Statements(Notes on Going Concern Assumptions)Not applicable(Notes on significant changes in the amount of shareholders’ equity)
Not applicable(Changes in significant subsidiaries during the period)
From the first quarter of this fiscal year, Open House Preparatory Company Co., Ltd. and eight other companies
were included in the scope of consolidation.
(Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements)
Tax expenses were calculated by multiplying income before income taxes by an effective tax rate that was reasonably
estimated by applying tax effect accounting to estimated profit before income taxes for the fiscal year ended
September 2022 including the first quarter. However, in case where calculation tax expenses using the estimatedeffective tax rate would result in a significant lack of rationally, Tax expenses were calculated by taking into accountsignificant additions and subtractions and tax deduction items.
(Changes in accounting policies)(Adoption of accounting standard for fair value measurement, etc.)
From the first quarter of this fiscal year, the Company began applying the revised accounting standards inaccordance in accordance with transitional measures specified in "Accounting Standard for Fair Value Measurement”(ASBJ Statement No. 30, July 4, 2019) Paragraph19 and "Accounting Standard for Financial Instruments” (ASBJ
Statement No. 10, July 4, 2019) Paragraph 44-2. This change had no impact on the consolidated quarterly financialstatements.

(Segment and Other Information)【Segment Information】
Ⅰ. Three months ended December 31, 2020 (October 1, 2020 to December 31, 2020)
1.

Information on revenue, income or loss, and other items by reportable segment（Millions of yen）
Reportable Segment
Single-family
Condominiums
homes related

Revenue
Revenue fromoutside customers
Intersegment
revenue and transfers
Total
Segment Income

Property
resaleOthers

PRESSANCECORPORATION

Total

Amount Recorded in
Adjustment
consolidated(Note1)quarterly statementsof Income (Note2)

121,524262

24,621

8,711－

155,119－

155,119

－

－

12

54－

67

(67)

－

121,524262(808)

24,633

8,766－

155,187(67)

155,119

2,579

887

－

19,704(309)

19,394

17,045(NOTE)
１. Adjustment of ¥ (309) million for segment income (loss) includes intersegment elimination of ¥101 million and corporate
expenses of ¥ (411) million that is not distributed to the reportable segments. Corporate expenses are primarily general andadministrative expenses that do not belong to the reportable segments.
2. Segment income (loss) has been adjusted to operating income described in consolidated quarterly statements of income.

|6Open House Group Co., Ltd. (3288)

Ⅱ. Three months ended December 31, 2021 (October 1, 2021 to December 31, 2021)
1.

Information on revenue, income or loss, and other items by reportable segment（Millions of yen）
Reportable Segment
Single-family
Condominiums
homes related

Revenue
Revenue fromcontracts withcustomers
Other revenue
Revenue
Revenue fromoutside customers
Intersegment
revenue and transfers
Total
Segment Income (Loss)

Property
resaleOthersPressance
Corporation

Adjustment
Total(Note1)

Amount Recorded inconsolidated
quarterly statementsof Income (Note2)

136,050

4,374

24,351

16,27230,246211,296－

211,296

1－

16,464711

6,781

23,958－23,958136,051

4,374

40,816

16,98437,028235,255－

235,255－－

248

57

0306

(306)

－

136,051
21,7994,374(118)

41,064
5,324

17,042
2,202

37,028
6,272

235,562
35,481(306)(439)

235,255
35,041(NOTE)
１. Adjustment of ¥ (439) million for segment income (loss) includes intersegment elimination of ¥193 million and corporate
expenses of ¥ (633) million that is not distributed to the reportable segments. Corporate expenses are primarily general andadministrative expenses that do not belong to the reportable segments.
2. Segment income (loss) has been adjusted to operating income described in consolidated quarterly statements of income.

2.

Notes relating to changes in reportable segments etc.
The breakdown of Revenue from Contracts with Customers for the first quarter of the previous fiscal year is not indicated inaccordance with transitional measures specified in “Accounting Standard for Quarterly Financial Reporting” (ASBJ Statement
No.12, March 31, 2020) Paragraph 28-15.

|7Open House Group Co., Ltd. (3288)

(Significant subsequent events)(Transition to a holding company structure through Company Split)
By resolution of the Board of Directors meeting held on November 12, 2021, the Company as the Splitting
Company completed an absorption-type company split agreement with Open House Preparatory Company Co., Ltd.,a wholly-owned subsidiary of the Company as the Successor Company, and became a pure holding company onJanuary 1, 2022. The Company changed its corporate name to Open House Group, Co., Ltd., and Open House
Preparatory Company Co., Ltd changed its corporate name to Open House Co., Ltd. on January 1, 2022.
1. Overview of the company split(1) Content of eligible business
Brokerage business, U.S real estate business and business related to operational support by dispatch employees
to its subsidiaries and investments, etc.
(2) Date of business combination
January 1, 2022
(3)

Legal form of the business combination
The Company became the Splitting Company, and Open House Preparatory Company Co., Ltd., a wholly-owned
subsidiary of the Company, became the Successor Company.

(4)

Name of the company after combination
The Splitting Company: Open House Group Co., Ltd.
The Successor Company: Open House Co., Ltd.

(5) Purpose
The Company has decided to shift to a holding company structure in order to establish a managementfoundation that supports the further enhancement of corporate value and the achievement of sustainablegrowth with the following aims.
1) Speeding up decision making in business promotion
Each operating company will be responsible for promoting existing businesses. The Company will move
forward with the transfer of authority and establish a system that enables us to make speedy decisions inpromoting businesses, thereby strengthening our competitiveness and expanding businesses in response to a
rapidly changing environment.
2) Strengthening the functions for managing the group
The holding company will focus on managing the group and operations related to listed shares. Besides
internal audits, investor relations, management of performance and finances of the group companies, andcreation of synergies, the Company will also promote implementation of capital policies required for growthand new business development needed for the group’s growth, such as M&As.
3) Building a forward-looking management system
The Group aims to maximize corporate value across the Group and achieve sustainable growth by establishinga forward-looking management system, in order to optimally allocate management resources, secure anddevelop managerial personnel, and improve group governance.
2. Outline of accounting treatment implemented
Based on “Accounting Standard for Business Combinations” (ASBJ Statement No.21, January 16, 2019) andGuidance on Accounting Standard for Business Combinations and “Accounting Standard for Business Divestitures”(ASBJ Guidance No. 10, January 16, 2019) it was treated as a transaction under common control.

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