Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Nine Months Ended December 31, 2022
(Based on Japanese GAAP)
February 1, 2023
Company name:Hankyu Hanshin Holdings, Inc.
Stock exchange listing: Tokyo
Stock code:
Representative:

9042
URL https://www.hankyu-hanshin.co.jp/President and Representative Director
Takehiro SugiyamaInquiries:

Accounting Manager of the Group Planning
Division

Kenji Joto

TEL

Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:

February 10, 2023–

Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results meeting:Yes
No06-6373-5013(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the nine months ended December 31, 2022 (from April 1, 2022 to December 31, 2022)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Profit attributable toOperating revenue
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Nine months ended December 31, 2022
716,44438.5
74,510 173.1
76,621 172.9
51,051 171.2
Nine months ended December 31, 2021
517,162–
27,278–28,074–
18,827–
Earnings per share

Diluted earnings per share

Yen
211.8978.14

Nine months ended December 31, 2022
Nine months ended December 31, 2021

Yen
211.8378.06(2) Consolidated financial position
Total assets
As of December 31, 2022
As of March 31, 2022

Net assets

Millions of yen
2,830,413
2,722,841

Equity ratio

Millions of yen
991,346915,363

%
32.3
32.0

2. Cash dividends
Annual dividends per share

Year ended March 31, 2022
Year ending March 31, 2023

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––Yen
25.00
25.00

Yen––

Yen
25.00

Yen
50.00

25.00

50.00

Year ending March 31, 2023 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)

Full year

Percentages indicate year-on-year changes
Profit attributable toOperating revenue
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Yen
975,000
30.7
85,000 116.8
84,000 118.5
45,000 110.1
186.781

4. Notes(1) Changes in significant subsidiaries during the nine months ended December 31, 2022
(changes in specified subsidiaries resulting in the change in scope of consolidation):Yes(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:

Yes
No

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2022

254,281,385 shares As of March 31, 2022

254,281,385 shares

Number of treasury shares at the end of the period
As of December 31, 2022

13,374,250 shares As of March 31, 2022

13,332,196 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Nine months ended December 31, 2022

240,934,793 shares Nine months ended December 31, 2021

2240,952,374 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2022

As of December 31, 2022

AssetsCurrent assetsCash and deposits
Notes and accounts receivable - trade

31,331
112,568

46,429113,150

Land and buildings for sale
Merchandise and finished goods

166,331
2,372

183,8432,536Work in process
Raw materials and supplies

2,131
5,464

5,669
6,230

Other
Allowance for doubtful accounts

46,018(408)

47,529(458)

Total current assets

365,811404,929

Buildings and structures, net
Machinery, equipment and vehicles, net

646,40760,314646,32157,485Land
Construction in progress

973,012218,215

1,016,616
227,389

Other, net

25,02323,8901,922,9741,971,703

Goodwill
Other

9,655
27,856

7,914
26,555

Non-current assets
Property, plant and equipment

Total property, plant and equipment
Intangible assets

Total intangible assets

37,512

34,469Investments and other assets
Investment securities

316,231339,935

Deferred tax assets
Retirement benefit asset

7,218
18,505

7,022
18,627

Other
Allowance for doubtful accounts

54,917(329)

54,063(338)

Total investments and other assets
Total non-current assets
Total assets

3

396,544419,3102,357,030

2,425,483

2,722,841

2,830,413

(Millions of yen)
As of March 31, 2022

As of December 31, 2022

Liabilities
Current liabilities
Notes and accounts payable - trade

40,69942,235

Accrued expenses
Short-term borrowings

16,853
145,737

15,709186,878

Commercial papers
Current portion of bonds payable

50,0007,000–
30,000

Lease liabilities
Income taxes payable

3,834
6,380

3,845
6,629

Provision for bonuses
Other

3,682
152,471

1,859
131,980

Total current liabilities

426,659

419,138

Non-current liabilities
Long-term borrowings

649,476

670,989

Bonds payable
Lease liabilities

230,000
9,916

230,000
9,585

Deferred tax liabilities
Deferred tax liabilities for land revaluation

176,516
5,182

185,487
5,182

Retirement benefit liability
Long-term deferred contribution for construction

62,795
117,561

62,454
127,131

Other

129,369

129,096

1,380,818

1,419,927

1,807,477

1,839,066

Share capital
Capital surplus

99,474
147,358

99,474
147,342

Retained earnings
Treasury shares

645,212(48,713)684,132(48,734)

Total shareholders' equity

843,332

882,215

Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity

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

18,756

20,726

Deferred gains or losses on hedges
Revaluation reserve for land

7
5,499

(252)
5,499

Foreign currency translation adjustment
Remeasurements of defined benefit plans

435
2,317

4,081
1,897

Total accumulated other comprehensive income

27,016

31,952

Non-controlling interests

45,014

77,178

Total net assets

915,363

991,346

2,722,841

2,830,413

Total liabilities and net assets

4Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)

Operating revenue
Operating expenses

Nine months ended

Nine months ended

December 31, 2021

December 31, 2022

517,162

716,444

Operating expenses and cost of sales of transportation
Selling, general and administrative expenses

470,334
19,549620,069
21,864

Total operating expenses

489,884

641,934

27,27874,510

120
856

204
878

Share of profit of entities accounted for using equity method
Miscellaneous income

6,345
1,390

7,555
1,741

Total non-operating income

8,712

10,379Operating profit
Non-operating income
Interest income
Dividend income

Non-operating expenses
Interest expenses

6,435

6,324

Miscellaneous expenses

1,481

1,944

Total non-operating expenses

7,917

8,268

28,074

76,621

Contribution for construction
Gain on sale of investment securities

27,155
3,699

1,262
1,937

Subsidies for employment adjustment
Other

8,632
1,380

567
1,169

Total extraordinary income

40,866

4,937

27,176

1,155

Loss on COVID-19
Other

8,526
830

1,025
1,004

Total extraordinary losses

36,533

3,184

Profit before income taxes

32,40778,373

Income taxes - current

6,556

14,610

Income taxes - deferred

4,199

9,318

Total income taxes

10,75523,929Profit21,65154,443

Ordinary profit
Extraordinary income

Extraordinary losses
Loss on tax purpose reduction entry of non-current assets

Profit attributable to non-controlling interests

2,823

3,391

Profit attributable to owners of parent

18,82751,051

5

Consolidated statements of comprehensive income (cumulative)(Millions of yen)

ProfitOther comprehensive income

Nine months endedNine months ended

December 31, 2021

December 31, 2022

21,65154,443

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges(1,361)
(32)

2,404
(259)

Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax

1,246
(464)

4,982
(439)

Share of other comprehensive income of entities accounted
for using equity method

(159)

1,150

Total other comprehensive income
Comprehensive income

(771)

7,838

20,88062,282

17,35556,313

3,524

5,968

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

6Supplementary information
1. Consolidated financial results for the third quarter of the year ending March 31, 2023
Consolidated Statements of Income (Summary)(Millions of yen)
Q3 FY2023
Results

Q3 FY2022
Results①②

Operating revenue

716,444

517,162

199,282

Operating profit

74,51027,27847,231

Ordinary profit

76,621

28,07448,546

Profit attributableto owners of parent

51,051

18,82732,224

Change=①-②

Consolidated Statements of Income (Breakdown for each business segment)(Millions of yen)
Operating profit

Operating revenue
Q3 FY2023
Results

Q3 FY2022
Results①②

Urban Transportation

137,855

120,740

17,114

18,453

4,949

13,504

Real Estate

197,476

162,238

35,23819,49013,2296,261Entertainment

56,61849,883

6,735

13,27910,285

2,994

Information andCommunication Technology

41,10941,202

(93)

2,958

3,025

(67)

Travel143,685

34,448109,237

16,191(7,743)23,934

International
Transportation

129,41498,56830,845

6,391

5,615

776

Other

36,33534,024

2,310

1,270

1,097

173

Adjustment(26,050)(23,945)(2,105)(3,525)(3,180)(345)

Change=①-②

Q3 FY2023
Results

Q3 FY2022
Results①②

Change=①-②

Note: In Q1 FY2023, we consolidated the Hotels segment into the Real Estate segment, making Hotel a sub-segment of Real Estate.
To enable year-on-year comparisons, we have applied this change retroactively to the comparative period (Q3 FY2022).

7

2. Forecast of consolidated financial results for the year ending March 31, 2023
Consolidated Statements of Income (Summary)(Billions of yen)
FY2023
Forecasts①FY2023
Forecasts（As of Oct.）

FY2022Results

Change=①-②

Change=①-③③②

Operating revenue

975.0

925.0

50.0

746.2

228.8

Operating profit

85.0

70.0

15.0

39.2

45.8

Ordinary profit

84.0

68.0

16.0

38.5

45.5

Profit attributableto owners of parent

45.0

40.0

5.0

21.4

23.6

Consolidated Statements of Income (Breakdown for each business segment)(Billions of yen)
[Upper table]
Operating revenue[Lower table]
Operating profit

FY2023
Forecasts①FY2023
Forecasts（As of Oct.）

FY2022
Results

Change=①-②③②

Change=①-③

185.6

185.0

0.6

161.6

24.0

22.0

20.6

1.45.6

16.4

288.9

291.9(3.0)

246.6

42.3

27.8

25.5

2.3

19.4

8.4

70.5

70.7

(0.2)

62.9

7.6

11.4

11.0

0.4

9.3

2.1

63.9

63.9

－

59.2

4.7

5.9

5.9

－

5.9

0.0

190.0

138.0

52.0

60.4

129.6

14.0

4.5

9.5

(5.7)

19.7

168.9

166.0

2.9

143.3

25.6

7.5

6.0

1.5

8.0(0.5)

Urban Transportation

Real EstateEntertainment

Information andCommunication Technology

TravelInternational
Transportation

Note: Due to the organizational changes implemented from the FY2023, the segment information for the FY2022 is based on
the new classification.

8