(Translation)
Consolidated Financial Results
for the Nine-Month Period Ended December 31, 2022
(Japanese GAAP)
February 7, 2023
Company name:
Stock exchange listings:
Securities code:
URL:
Representative:
Contact:

Kyushu Railway Company
Tokyo and Fukuoka
9142
https://www.jrkyushu.co.jp/
Yoji Furumiya, President and CEO
Kazuyo Hisano, General Manager, Public Relations Department
Tel.: +81-92-474-3677

Scheduled date for filing of quarterly report:
Planned date of dividend payment commencement:
Preparation of supplementary explanations for financial results:
Holding of a briefing on quarterly financial results:

February 10, 2023
－
Yes
No

(Amounts less than one million yen, except for per share amounts, are omitted.)

1. Consolidated Financial Results for the Nine-Month Period Ended December 31, 2022
(From April 1, 2022 to December 31, 2022)(1) Consolidated operating results
Nine months ended
December 31, 2022
December 31, 2021

Operating revenue

Operating income

Ordinary income

Net income attributable toowners of the parent

Millions of yen
261,280
222,712

Millions of yen%
22,512 708.5
2,784－

Millions of yen%
23,527 237.7
6,967－

Millions of yen
21,5339,214(Note) Comprehensive income:Nine months ended
December 31, 2022
December 31, 2021

(Percentages show year-on-year changes.)

%
17.3
10.0

Nine months ended December 31, 2022: ¥24,432 million (192.1%)
Nine months ended December 31, 2021: ¥8,364 million (－%)

Net income per share— basic

Net income per share— diluted

Yen
137.05
58.65

Yen
－
－

(2) Consolidated financial position
Total assets
Net assets
Millions of yen
Millions of yen
976,682
398,803
As of December 31, 2022
951,980
389,024
As of March 31, 2022
(Reference) Shareholders’ equity:
As of December 31, 2022: ¥398,023 million
As of March 31, 2022: ¥388,331 million

Equity ratio
%
40.8
40.8

%
133.7
－

2. DividendsFirstquarter-end
Yen－－

Year ended March 31, 2022
Year ending March 31, 2023
Year ending March 31, 2023
(Forecast)

Annual dividends
SecondThird
quarter-end
quarter-end
Yen
Yen
0.00
－
0.00
－

Fiscalyear-end
Yen
93.00

Total

93.00

Yen
93.00
93.00

(Note) Revisions to the most recently disclosed dividend forecasts: No

3. Consolidated Forecasts for the Fiscal Year Ending March 31, 2023
(April 1, 2022 to March 31, 2023)(Percentages show year-on-year changes.)

Full year

Operating revenue

Operating income

Millions ofyen
381,400

Millions of%yen
29,000 635.2%
15.7

Net income
Net income per
attributable to owners
shareof the parent
Millions ofMillions of
%
%
Yen
yen
yen
30,000 224.8
26,600 100.7
169.30Ordinary income(Note) Revisions to the most recently disclosed financial forecasts: No

Notes(1) Changes in significant subsidiaries during the nine months ended December 31, 2022 (changes in specified
subsidiaries affecting the scope of consolidation): No(2) Application of special accounting treatment in preparing the quarterly consolidated financial statements: No(3) Changes in accounting policies, changes in accounting estimates and restatement of revisions
i Changes in accounting policies with revision of accounting standards: Yes
ii Changes in accounting policies other than the above: No
iii Changes in accounting estimates: No
iv Restatement of revisions: No(Notes)For details about i, please refer to “(3) Notes to Quarterly Consolidated Financial Statements, Changes in Accounting Policies” on page
11 of the accompanying materials.

(4) Number of shares outstanding (common stock)i

Number of shares issued andoutstanding at end of period(including treasury stock)ii Number of shares of treasury
stock at end of period
iii Average number of shares during
the period

As of December
31, 2022

157,301,600
shares

As of March 31,
2022

157,301,600
shares

As of December
31, 2022

181,487
shares157,119,374
shares

As of March 31,
2022

183,705
shares157,117,600
shares

As of December
31, 2022

As of December
31, 2021

Note: The number of shares of treasury stock at the end of the period includes the number of shares of the Company’s stock held by the Board
Benefit Trust (BBT) (Third quarter of FY2023/3, 181,400 shares; FY2022/3, 183,700 shares). In addition, the number of shares of theCompany’s stock held by the Board Benefit Trust (BBT) is included in the treasury stock that is subtracted in the calculation of theaverage number of shares during the period (Third quarter of FY2023/3, 182,167 shares; Third quarter of FY2022/3, 184,000 shares).

* This summary of consolidated financial results is not subject to quarterly reviews by certified public accountants or corporate
auditors.

* Explanation of Appropriate Uses of Performance Forecasts and Other Important Items:
Performance forecasts and other forward-looking statements appearing in this document are based on currently available
information and specific assumptions deemed rational, and are not assurances that the Company will achieve these forecasts.
Actual performance can vary greatly depending on various factors such as fluctuations in interest rates, fluctuations in shareprices, changes in exchange rates, fluctuations in the value of assets, changes in the economic and financial environment,changes in the conditions of competition, occurrences of large-scale and other disasters, and changes in regulations.
Supplementary quarterly materials are attached to this summary of consolidated financial results.

Contents of Accompanying Materials
1. Qualitative Information on Quarterly Consolidated Financial Performance ....................... 2(1) Qualitative Information on Consolidated Operating Results ................................................. 2(2) Qualitative Information on Consolidated Financial Position ................................................. 6(3) Qualitative Information on Consolidated Performance Outlook ............................................ 6
2. Quarterly Consolidated Financial Statements and Major Notes ........................................... 7(1) Consolidated Balance Sheets .................................................................................................. 7(2) Quarterly Consolidated Income Statements andQuarterly Consolidated Comprehensive Income Statements ................................................. 9
Quarterly Consolidated Income Statements
Consolidated Cumulative Third Quarter .......................................................................... 9
Quarterly Consolidated Comprehensive Income Statements
Consolidated Cumulative Third Quarter .......................................................................... 10(3) Notes to Quarterly Consolidated Financial Statements .......................................................... 11(Notes on Going Concern Assumption) ................................................................................. 11(Notes on Significant Changes in the Value of Shareholders’ Equity) ................................... 11(Changes in Accounting Policies) .......................................................................................... 11(Segment Information) ........................................................................................................... 12(Significant Subsequent Events) ............................................................................................ 12○(Financial results presentation materials)
Financial Results for the Third Quarter of FY2023/3 (Cumulative total for the nine-month period from April to December)- 1 -1. Qualitative Information on Quarterly Consolidated Financial Performance
Forward-looking statements in this document are based on assessments as of the end of the third quarter ofthe fiscal year ending March 31, 2023.
(1) Qualitative Information on Consolidated Operating Results
In the third quarter of the fiscal year ending March 31, 2023, the Japanese economy showed signs of amodest rebound, centered on personal consumption. Amid the ongoing impact of COVID-19,
restrictions on behavior and socioeconomic activity began to normalize. However, raw materials pricesrose as the situation in the Ukraine was prolonged and the yen continued to depreciate. Owing to suchfactors, the future economic outlook remains uncertain.
Against this backdrop, the JR Kyushu Group advanced under the three key strategies of JR Kyushu
Group Medium-Term Business Plan 2022–2024. The strategies are “completing business structuralreforms,” “creating a model for building cities that promote well-being,” and “developing businesses
in new areas in which we can contribute.” In addition, we focused on developing human resources forthe implementation and realization of strategies, and on building foundations for advancing strategies
on a Groupwide basis. Also, the Nishi-Kyushu Shinkansen opened in September 2022, with operations
starting between Takeo Onsen and Nagasaki stations. To maximize the impact of the opening, theentire Group worked together on various promotions to encourage use and initiatives such as thedevelopment of the new Nagasaki Station building, which is scheduled to open in autumn 2023.
As a result, operating revenue was up 17.3% year on year, to ¥261,280 million; operating income wasup 708.5%, to ¥22,512 million; EBITDA increased 95.2%, to ¥44,242 million; ordinary income was up
237.7%, to ¥23,527 million; and net income attributable to owners of the parent was up 133.7%, to¥21,533 million.
(Note) EBITDA for the consolidated period under review is the numerical value of operating income
plus the cost of depreciation (excluding the cost of depreciation related to lease assets held forthe purpose of subleasing).

- 2 -The Group’s business performance by segment is as follows. Reportable segments have been revised
from the first quarter under review. In the year-on-year comparisons below, results from previous years
have been retroactively adjusted to match the new segment classifications.
(Millions of Yen)
Operating revenue
FY2023/3,
consolidated
cumulative
third quarter(nine months
ended
December 31,
2022)

Operating income
FY2023/3,
consolidated
cumulative
third quarter(nine months
ended
December 31,
2022)

YoY

EBITDA (Note 2)
FY2023/3,
consolidated
cumulative third
quarter(nine months
ended
December 31,
2022)

YoY

YoY

Transportation

100,989

22,966

29.4%

4,380

16,133－

12,21817,642－

Real Estate and Hotels

74,707

9,664

14.9%

13,266

2,618

24.6%

23,771

2,687

12.7%

Real estate lease

46,264

2,510

5.7%

11,646(48)(0.4%)

20,420(62)(0.3%)

Real estate sale

16,493

1,924

13.2%

956

(230) (19.4%)

971

Hotel

11,949

5,229

77.8%

663

2,897

－

2,379

2,980

－

Retail and Restaurant

40,271

7,808

24.1%

1,070

1,865

－

2,033

1,897

－

Construction

56,868(3,682)(6.1%)

1,040(1,577) (60.3%)

1,828(1,522) (45.4%)

Business Services

51,995

3,128

6.4%

2,962

551

22.9%

4,866

741

18.0%

Total

324,832

39,88614.0%

22,72019,592626.2%

44,717

21,447

92.2%

Adjustment (Note 1)(63,552)(1,318)

－

(208)

135

－

(475)

129

－

Amount on the
consolidated financial

261,280

38,56717.3%

22,512

19,727708.5%

44,242

21,57695.2%(229) (19.1%)

statements(Notes) 1. Adjustments reflect the elimination of intersegment transactions.
2. Consolidated EBITDA = operating income + depreciation (after elimination of intersegment transactions,excluding the cost of depreciation related to lease assets held for the purpose of subleasing), segment EBITDA =segment operating income + segment depreciation (after elimination of intersegment transactions, excluding thecost of depreciation related to lease assets held for the purpose of subleasing)i) Transportation GroupIn the railway business, the Company worked to ensure safety and implemented measures to preventthe spread of COVID-19. In light of these factors, we worked to secure revenues. In addition, we
strove to reduce costs, particularly fixed costs, which account for a high percentage of costs in therailway business.
We promoted safety creation activities based on the understanding that safety is the foundation of
everything we do. The slogan of the activities was “Save lives!! Understand the rules and put theminto practice.” In addition, we steadily made safety-oriented investments, such as introducing newrolling stock, replacing aging facilities, and introducing disaster-prevention measures.
On the service front, we promoted initiatives aimed at emphasizing a corporate culture founded onservice. The theme of these initiatives is “I listen to customer feedback, and think and act on behalf of- 3 -the Company.” In addition, as initiatives to enhance customer convenience, we enabled limitedexpress tickets to be purchased via the PayPay app provided by PayPay Corporation for the entire year
and launched a demonstration experiment using touch payment via credit card at ticket gates.
In marketing, to maximize the impact of opening the Nishi-Kyushu Shinkansen we held the “We,
Kamome” event with local participants to bring the region together, ran the new TWO STARS 4047
D&S train, and promoted a tourism campaign aimed at communicating the appeal of Saga andNagasaki. In addition, to encourage a recovery of inbound demand to Kyushu, in November 2022 welaunched the “Welcome back to Kyushu” campaign in collaboration with the Kyushu Tourism
Organization. Also, we extended the EX Service (internet reservations and ticketless boarding) area tothe Kyushu Shinkansen and ran promotions to encourage use. In addition, based on customer usage
and the introduction of the EX Service, we reevaluated limited-express surcharges on conventionallines, stopped selling some discount tickets, and revised prices.
In transportation, while implementing infection prevention measures at stations and on trains, we
worked to maintain the transportation network, which is an important aspect of regional social
infrastructure. We implemented a timetable revision in September 2022 in line with customer usage
conditions. Due to the impact of heavy rain that occurred in northern Kyushu in July 2017, we are
implementing substitute forms of transportation between Soeda Station and Yoake Station on the
Hitahikosan Line. We are preparing to restore service by introducing a bus rapid transit (BRT) systemalong the Hitahikosan Line (nicknamed the “BRT Hikoboshi Line”). We are working to commenceservice in summer of 2023. We are also introducing alternative means of transportation on certain
sections of the Hisatsu Line that were seriously damaged by heavy rains in July 2020.
In our bus business, we reduced service in line with usage conditions, while working to create anenvironment in which customers can use bus services with peace of mind through measures to preventof infection. In addition, in March 2022 we introduced a dynamic pricing fare system on a high-speed
bus route. Under this system, fares are changed flexibly within a wider price range in line with themost-recent reservation circumstances.
In our passenger ship business, owing to the easing of protection measures to prevent the spread of the
COVID-19 infection, the operation of the “QUEEN BEETLE” new-style hydrofoil ferry commenced
in November 2022 on the Fukuoka–Busan route.
In the field of new mobility services (MaaS), in collaboration with regional transportation operators,
local governments, tourism organizations, and other entities, we promoted efforts to realize seamless
transportation services using the “my route” MaaS application. In Nagasaki Prefecture, service began
in August 2022 in conjunction with the opening of the Nishi-Kyushu Shinkansen. In Fukuoka
Prefecture, digital tickets were sold on the MaaS app in collaboration with Showa Motors Inc., NishiNippon Railroad Co., Ltd., and 15 commercial facilities in the Tenjin and Hakata areas, with the aimof stimulating demand for excursions to the city center area and improving city circulation.
As a result, the Transportation Group recorded operating revenue of ¥100,989 million, up 29.4% year
on year; operating income of ¥4,380 million (compared with an operating loss of ¥11,752 million in
the same period of the previous fiscal year); and EBITDA of ¥12,218 million (compared with negative
EBITDA of ¥5,423 million in the same period of the previous fiscal year).

- 4 -ii) Real Estate and Hotels GroupIn the real estate leasing business, we have seen a moderate recovery in tenant sales at each stationbuilding, and occupancy at the offices and rental condominiums we own has remained strong. In
March 2022, we also opened “Nagasaki Kaido Kamome Ichiba,” which is under the elevated railway
tracks at Nagasaki Station. With moves such as these, we are making steady development progress
toward the planned opening of the new Nagasaki Station building in autumn 2023. In addition, in
November 2022 JR Hakata City Co., Ltd., a subsidiary, began handling outsourced property
management for “VIORO,” a commercial facility in Fukuoka’s Tenjin district. This marks the Group’s
first outsourced property management of another company’s commercial facilities.
In the real estate sale business, we sold one office building. We also handed over condominium units,
including “MJR the Garden Kashii,” and recorded sales from them. While instituting infection
prevention measures at model rooms, we engaged in sales efforts at “MJR Kumamoto The Tower,”“MJR Kumamoto Station South,” “MJR Kagoshima Eki Park Front,” and other condominium
buildings.
In the hotel business, we worked actively to capture tourism demand in line with a government
nationwide travel support program and the easing of protection measures. We also continued withefforts to reduce costs and improve profitability. In addition, we opened “THE BLOSSOM KYOTO”
in August 2022 and promoted development of “URESHINO YADOYA” and “the Nagasaki Mariott
Hotel.”As a result, the Real Estate and Hotels Group posted operating revenue of ¥74,707 million, up 14.9%
year on year; operating income of ¥13,266 million, up 24.6%; and EBITDA of ¥23,771 million, up
12.7%.
iii) Retail and Restaurant GroupIn the retail business, we ran the Nishi-Kyushu Shinkansen Kamome Fair and sought to build backrevenues from station stores, especially souvenir shops, amid a modest recovery in mobility demandand personal consumption. We also made progress on opening new and renovating existing
convenience stores. To reinforce our roadside store offerings, our subsidiary, JR Kyushu Retail, Inc.
entered a franchise agreement with Chateraise Co., Ltd. Also, April 2022 marked the opening of thefirst store under this agreement, a confectionery shop called Chateraise Sawara-ku Hara.
In the restaurant business, we opened restaurants in suburban commercial facilities, such as “Mitsui
Shopping Park LaLaport FUKUOKA” and “THE OUTLETS KITAKYUSHU.” We also worked toenhance management efficiency, such as by closing unprofitable restaurants.
As a result, the Retail and Restaurant Group posted operating revenue of ¥40,271 million, up 24.1%
year on year; operating income of ¥1,070 million (compared with an operating loss of ¥794 million in
the same period of the previous fiscal year); and EBITDA of ¥2,033 million (compared with EBITDAof ¥135 million in the same period of the previous fiscal year).
iv) Construction GroupIn the construction business, we leveraged specialized skills in the railway business to ensure safe,
stable railway operations through railway-related civil engineering, railroad track, and construction
work as well as through maintenance operations and rolling stock equipment work. In railway
construction, we made steady progress on such projects as new Shinkansen- and Haga Utsunomiya- 5 -LRT-related construction, and worked to generate new orders. However, construction volume fell year
on year in line with the completion of construction on the Nishi-Kyushu Shinkansen. In addition, JR
Kyushu Electric System Company, a subsidiary of the Company, installed optical fiber cables in
Shinkansen structures between Hakata Station and Kagoshima-Chuo station and started an opticalfiber core wire leasing service from March 2022. Furthermore, we worked to obtain orders fromgovernment and municipal offices and from private enterprises for work related to condominiums andother projects. We also endeavored to reduce costs.
As a result, the Construction Group recorded operating revenue of ¥56,868 million, down 6.1% year on
year; operating income of ¥1,040 million, down 60.3%; and EBITDA of ¥1,828 million, down 45.4%.
v) Business Services GroupFor the construction machinery sales, rental, and advertising business, we worked to secure earnings
through aggressive sales activities. In addition, as part of our alliance strategy in the field of
information systems, our subsidiary, JR Kyushu System Solutions Inc., signed a business allianceagreement with Keyware Kyusyu Inc. in April 2022 for the co-creation of cloud data center services,and with OCH Co., Ltd. in June 2022 to promote efforts to provide new services such as supporting
the realization of future work styles.
As a result, the Business Services Group posted operating revenue of ¥51,995 million, up 6.4% year on
year; operating income of ¥2,962 million, up 22.9%; and EBITDA of ¥4,866 million, up 18.0%.
(Note) EBITDA for the consolidated period under review is the numerical value of operating income
plus the cost of depreciation (excluding the cost of depreciation related to lease assets held forthe purpose of subleasing).
(2) Qualitative Information on Consolidated Financial Position
Total assets as of December 31, 2022, increased 2.6% compared with the previous fiscal year-end, to¥976,682 million. Current assets decreased 1.9%, to ¥202,868 million, due to the redemption of
securities and other factors. Non-current assets increased 3.8%, to ¥773,814 million, due principally tothe acquisition of property, plant and equipment, etc.
Meanwhile, total liabilities increased 2.7% compared with the previous fiscal year-end, to ¥577,879
million. Current liabilities decreased 0.5%, to ¥181,135 million, due to payment of accounts payabletrade and payables and other factors. Non-current liabilities were up 4.2%, to ¥396,744 million, due toan increase in long-term debt and other factors.
Furthermore, total net assets increased 2.5% compared with the previous fiscal year-end, to ¥398,803
million, due primarily to an increase in retained earnings.
(3) Qualitative Information on Consolidated Performance Outlook
The Company has not revised its full-year forecast for the fiscal year ending March 31, 2023, fromthat disclosed on November 1, 2022.
Moreover, the performance outlook was prepared based on information available as of the release dateof these materials, and there are cases where actual performance differs from outlook figures due tovarious factors that arise going forward.
- 6 -2. Quarterly Consolidated Financial Statements and Major Notes(1) Consolidated Balance Sheets(Millions of Yen)
FY 2022/3(As of March 31, 2022)
ASSETS
Current assets
Cash and time deposits
Notes and accounts receivable–trade, and contract
assetsFares receivable
Securities
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and fixtures (net)
Machinery, rolling stock and vehicles (net)Land
Lease assets (net)
Construction in progress
Other (net)Net property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Net defined benefit assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets- 7 -FY 2023/3, Third Quarter(As of December 31, 2022)

39,70944,03245,536

41,8492,224
39,027
19,757
19,6308,058
32,821(42)
206,722

3,708
25,122
14,89540,9499,992
22,369(51)
202,868

312,746
44,001
147,142
19,66844,0407,708
575,308
5,735

314,005
65,294
153,134
21,23041,383
7,494
602,541
6,345

45,08662,996
1,007
56,191(1,067)
164,214745,257
951,980

49,56858,770925
56,680(1,019)164,926
773,814976,682(Millions of Yen)
FY 2022/3(As of March 31, 2022)
LIABILITIESCurrent liabilities
Notes and accounts payable–trade
Short-term loans
Commercial papers
Current portion of bonds
Current portion of long-term loans
PayablesAccrued income taxes
Fare deposits received with regard to railway
connecting services
Railway fares received in advanceAccrued bonuses
Other
Total current liabilities
Non-current liabilities
Corporate bonds
Long-term loans
Allowance for safety and environmental measures
Allowance for disaster-damage losses
Net defined benefit liabilities
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
NET ASSETS
Shareholders’ equity
Common stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders’ equity
Accumulated other comprehensive income
Unrealized gain on available-for-sale securities
Foreign currency translation adjustments
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
TOTAL LIABILITIES AND NET ASSETS- 8 -

FY 2023/3, Third Quarter(As of December 31, 2022)

28,9086,070
35,000－8,780
46,564
1,693

17,301
6,157
20,00020,00014,451
42,202
549

1,705

1,868

4,818
7,066
41,466
182,074

5,537
3,834
49,231
181,135

120,000
153,336854
2,115
48,8901,448
54,234
380,881562,955

125,000
166,387854
1,711
47,816
1,473
53,500396,744577,879

16,000225,847
147,941(591)
389,198

16,000225,815
154,845(584)
396,076

4,781
(441)
(5,206)(866)
692
389,024
951,9806,473
81(4,607)
1,947
779
398,803
976,682

(2) Quarterly Consolidated Income Statements and Quarterly Consolidated Comprehensive
Income Statements
Quarterly Consolidated Income Statements
Consolidated Cumulative Third Quarter(Millions of Yen)
FY 2022/3, Third Quarter(Nine months ended December
31, 2021)
OPERATING REVENUEOPERATING EXPENSE
Transportation, other services and cost of sales
Selling, general and administrative expense
Total operating expense
OPERATING INCOME
NON-OPERATING INCOME
Interest income
Dividend income
Gain on assets held in trust
Other
Total non-operating income
NON-OPERATING EXPENSEInterest expense
Other
Total non-operating expense
ORDINARY INCOMEEXTRAORDINARY GAINS
Construction grants received
Gain on sales of investment securities
Other
Total extraordinary gains
EXTRAORDINARY LOSSES
Loss on reduction of noncurrent assets
Provision for loss on disaster
Disaster-damage losses
Other
Total extraordinary losses
INCOME BEFORE INCOME TAXESINCOME TAXES -Current
INCOME TAXES -Deferred
Total income taxes
NET INCOME
NET INCOME (LOSS) ATTRIBUTABLE TONON-CONTROLLING INTERESTSNET INCOME ATTRIBUTABLE TOOWNERS OF THE PARENT- 9 -

FY 2023/3, Third Quarter(Nine months ended December
31, 2022)

222,712261,280

151,514
68,412219,927
2,784

164,575
74,192
238,767
22,512

70
573
1,693
3,687
6,025

72
628
1,292
1,108
3,102

1,119
722
1,842
6,967

1,226
861
2,087
23,527

637
－
475
1,113

3,597
2,821
1,011
7,431

627
806
146
500
2,079
6,001
761
(3,726)(2,965)
8,967

3,516
－
－
1,188
4,705
26,253
841
3,767
4,609
21,644

(247)

110

9,214

21,533

Quarterly Consolidated Comprehensive Income Statements
Consolidated Cumulative Third Quarter(Millions of Yen)
FY 2022/3, Third Quarter(Nine months ended December
31, 2021)
NET INCOME
OTHER COMPREHENSIVE INCOME
Unrealized gain on available-for-sale securities
Foreign currency translation adjustments
Remeasurements of defined benefit plans
Total other comprehensive income
COMPREHENSIVE INCOME
TOTAL COMPREHENSIVE INCOME
ATTRIBUTABLE TO:
Owners of the parent
Non-controlling interests- 10 -FY 2023/3, Third Quarter(Nine months ended December
31, 2022)

8,967

21,644(1,425)
17
805
(603)
8,364

1,686
503
598
2,788
24,432

8,624
(260)

24,34686

(3) Notes to Quarterly Consolidated Financial Statements(Notes on Going Concern Assumption)
None(Notes on Significant Changes in the Value of Shareholders’ Equity)
None(Changes in Accounting Policies)(Application of Implementation Guidance on Accounting Standard for Fair Value Measurement)
The Company has adopted the “Implementation Guidance on Accounting Standard for Fair Value
Measurement” (ASBJ Guidance No. 31, June 17, 2021, hereinafter, the “Implementation Guidance”)
from the beginning of the first quarter of the consolidated fiscal year ending March 31, 2023. In
accordance with the transitional treatment stipulated in Paragraph 27-2 of the Implementation
Guidance, the new accounting policies set forth by the Implementation Guidance will be applied
prospectively.
Accordingly, certain investment trusts that were previously stated at acquisition cost as securities
whose fair value was deemed extremely difficult to determine are now stated at fair value in the
consolidated balance sheets. This change has no material impact on the quarterly financial
statements.

- 11 -

(Segment Information)
Ⅰ FY 2022/3, Third Quarter (Nine-Month Period Ended December 31, 2021)
1. Information Related to Operating Revenue and Income (Loss) by Segment(Millions of Yen)
Reportable Segment
Real Estate Retail andTransportationand Hotels Restaurant

Construction

Business
Services

Total

Adjustment(Note 1)

Quarterly
Consolidated
Statements ofIncome(Note 2)

Operating Revenue
Outside Customers

74,49862,15932,31527,78425,953

222,712－

222,712Inside Group

3,525

2,883

146

32,766

22,912

62,234(62,234)－

Total

78,02365,04332,46260,55048,866284,946(62,234)

222,712Segment income (loss)(11,752)

10,648

(794)

2,617

2,410

3,128

(344)

2,784

(Notes) 1. The ¥344million deduction from segment income (loss) reflects the elimination of intersegment transactions.
2. Segment income (loss) has been adjusted for the operating loss figure on the quarterly consolidated income
statements.

Ⅱ FY 2023/3, Third Quarter (Nine-Month Period Ended December 31, 2022)
1. Information Related to Operating Revenue and Income by Segment(Millions of Yen)
Reportable Segment
Real Estate Retail andTransportationand Hotels Restaurant

Construction

Business
Services

Total

Adjustment(Note 1)

Quarterly
Consolidated
Statements ofIncome(Note 2)

Operating Revenue
Outside Customers

97,442

71,50140,04023,48728,809261,280－

261,280

Inside Group

3,547

3,206

230

33,381

23,18663,552(63,552)－

Total

100,989

74,70740,271

56,86851,995324,832(63,552)

261,280

Segment income

4,380

13,266

1,070

1,040

2,962

22,720(208)

22,512(Notes) 1. The ¥208 million deduction from segment income reflects the elimination of intersegment transactions.
2. Segment income has been adjusted for the operating income figure on the quarterly consolidated income
statements.

2. Information regarding changes to reportable segments, etc.
The Company has changed its segment classifications from the first quarter under review, with theaim of strengthening the business portfolio on a Groupwide basis. As a result of this change, theformer “Transportation,” “Construction,” “Real Estate and Hotels,” “Retail and Restaurant,” and“Other” segments have been revised to the “Transportation,” “Real Estate and Hotels,” Retail andRestaurant,” “Construction,” and “Business Services” segments.
Segment information for the third quarter of the previous fiscal year is presented based on therevised segment classifications.
(Significant Subsequent Events)
None- 12 -