Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2020
[Japanese GAAP] (Consolidated)
Name of Listed Company:
UCHIYAMA HOLDINGS INC.
Code Number: 6059
URL: http://www.uchiyama-gr.jp
Representative: Fumiharu Uchiyama, President and Representative Director
Contact Point: Takehiro Yamamoto, Senior Managing Director and Manager of Business Planning Office
Phone: (093) 551-0002
Scheduled Date of Dividend Payment Start: －Scheduled Date of Financial Statements Filing: August 9, 2019
Supplementary materials for Financial Results: None
Investor conference for Financial Results: None

August 9, 2019
Stock Listing: TSE(Amounts are rounded down to the nearest one million yen)

1. Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2020 (April 1, 2019 – June 30, 2019)(% of change from previous year)(1) Consolidated Financial Results
Profit attributable to
Net sales
Operating income
Ordinary income
owners of parent
Millions of yen

FY 2020 1Q
FY 2019 1Q(Note) Comprehensive income%

Millions of yen

%

9,505
45.3
754
508.0
6,541
3.7
124
(40.5)FY 2020 1Q: ¥601 million (397.0%)
Net income
per share

FY 2020 1Q
FY 2019 1Q%

Millions of yen

%

843
292.6
558
214
(16.3)
129
FY 2019 1Q: ¥120 million (-29.8 %)

330.8(20.9)

Diluted net income per
share
Yen

Yen

28.91
6.71

－
－

(2) Consolidated Financial Position
Total assets

Net assets

Millions of yen

FY 2020 1Q
FY 2019(Reference) Equity capital:

Millions of yen

Equity ratio

Millions of yen

30,43030,072
FY 2020 1Q: ¥16,733 million%

16,73355.0
16,22954.0
FY 2019: ¥16,229 million

2. Dividends
End of the 1Q

Dividends per share
End of the 3Q

End of the 2Q

Yen

FY 2019－
FY 2020－
FY 2020 (forecast)(Note) Changes from the latest dividend forecast: None

Year-end

Annual

Yen

Yen

Yen

Yen

5.00

－

5.00

10.00

5.00

－

5.00

10.00

3. Forecasts of Consolidated Financial Results for the Fiscal Year Ending March 31, 2020 (April 1, 2019 - March 31, 2020)(% of change from previous year for full year, same quarter of the previous year for 2Q)

Net sales
Millions of yen

Operating income%

Millions of yen

2Q
16,42622.4
1,073(cumulative)
Full year
30,87313.5
1,909(Note) Changes from the latest financial forecast: None

Profit attributable toowners of parent

Ordinary income%

Millions of yen%

Millions of yen

Net income
per share

%

Yen

116.1

1,069

73.7

702

55.3

36.34

86.1

1,899

43.2

1,244

12.9

64.38

*Notes(1) Changes in significant subsidiaries (changes of specified subsidiaries resulting in changes in scope of consolidation) during
the current term: None
(2) Application of the accounting procedures for producing quarterly consolidated financial statements: None
(3) Changes in accounting policies, accounting estimates and restatements:
1) Changes in accounting policies due to revisions of accounting standards:
2) Changes in accounting policies due to reasons other than above 1):3) Changes in accounting estimates:
4) Restatements:(4) Number of outstanding shares (common stock)1) Number of outstanding shares (including treasury
stock) at end of term2) Number of treasury stock at end of term3) Average number of shares

None
None
None
None

FY 2020 1Q

21,618,800 shares

FY 2019

21,618,800 shares

FY 2020 1Q
FY 2020 1Q

2,287,777 shares
19,331,023 shares

FY 2019
FY 2019 1Q

2,287,777 shares
19,331,024 shares

Note: The shares in the Company possessed by Trust & Custody Services Bank, Ltd. (Trust E) as a trust asset of the “stock
benefit trust (J-ESOP)” (fiscal year ending March 31, 2020 1Q: 72,150 shares / fiscal year ended March 31, 2019: 72,150
shares) are included in the number of treasury stock at end of term. In addition, the shares in the Company possessed by
Trust & Custody Services Bank, Ltd. (Trust E) are included in the treasury stocks to be deducted in the calculation of theaverage number of shares during the fiscal year (fiscal year ending March 31, 2020 1Q: 72,150 shares / fiscal year ended
March 31, 2019 1Q: 0 shares ).
*Summary of financial results is out of scope of quarterly review by certified public accountant or audit corporation.
*Statement regarding the proper use of financial forecasts and other remarks
 Descriptions regarding the future, including the financial projections contained in this report, are based on certain
assumptions currently available to the Company, which are, at the discretion of the Company, deemed reasonable. Actual
financial results may significantly vary due to various factors. For assumptions used in forecasting financial results andprecautions in using the financial projections, please refer to “Analysis Concerning Future Forecasts Including
Consolidated Financial Projections” on page 3 of the Appendix.
 A meeting for explaining the businesses and results to individual investors will be held when necessary. For the schedule ofthe meeting, etc., please see the website of the Company.

○Table of contents of the appendix

1. Analysis Concerning Results of Operations and Financial Condition .......................................................................................... 2(1) Analysis Concerning Results of Operations ............................................................................................................................ 2(2) Analysis Concerning Financial Situation ................................................................................................................................ 3(3) Analysis Concerning Future Forecasts Including Consolidated Financial Projections ........................................................... 3
2. Consolidated Financial Statements ............................................................................................................................................... 4(1) Consolidated Balance Sheets .................................................................................................................................................. 4(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income .............................................. 6(3) Notes Regarding Consolidated Financial Statements.............................................................................................................. 8(Notes regarding premise of a going concern) .......................................................................................................................... 8(Notes on significant changes in the amount of shareholders’ equity) ...................................................................................... 8(Additional information) .......................................................................................................................................................... 8(Segment information, etc.) ...................................................................................................................................................... 9

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1. Analysis Concerning Results of Operations and Financial Condition(1) Analysis Concerning Results of Operations
The Japanese economy during the current consolidated cumulative first quarter was rebounding slowly in general thanks
to the improved corporate earnings and employment environment; however, uncertain factors, such as the prolonged trade
war between the United States and China and geopolitical risks, continued to make it difficult to foresee the future.
Amid this business environment, our corporate group has carried out sales activities, etc. actively based on our businessstrategies in each segment. In addition, we made efforts to improve the added values of our services, by planning andimplementing various measures for boosting synergetic effects among Nursing Care, Karaoke, and Restaurant Businesses.
As for expenditures, we streamlined our business administration by reducing costs, to stabilize our business performance.
As a result, sales of the first quarter of the current consolidated fiscal year were 9,505,034 thousand yen (up 45.3% Yearon-Year (YoY)), operating income was 754,314 thousand yen (up 508.0% YoY), ordinary income was 843,219 thousand yen(up 292.6% YoY), and profit attributable to owners of parent was 558,875 thousand yen (up 330.8% YoY).
The results of each segment were as follows.
a. Nursing Care BusinessWe did not open new facilities in the Nursing Care Business during this first quarter. Regarding the existing facilities, we
promoted the cementing of cooperation with nearby hospitals and home care support offices by visiting them in an effort to
reduce the number of vacant rooms at its facilities. Furthermore, we strived to improve its service level through thoroughemployee education and training.
In addition, we continued to promote industry-academia-government collaboration in this consolidated fiscal year. We
strived to train in-house qualified oral care certified persons in cooperation with Kyushu Dental University. Improving oral
care promotes the prevention of diseases such as aspiration pneumonia.
We conducted nursing care staff behavior analysis verification tests using IoT technology in cooperation with Kyushu
Institute of Technology. We would also like to utilize AI to contribute to the reform in the work styles of personnel based on
the results of these experiments.
We have developed a resident information collection tool called a life map under the theme of making life worthwhile incooperation with Kyushu University. We are working to utilize that to further enrich lives after entering facilities.
We will step up activities in order to make the life map available in a wider area.
The average occupancy ratio of existing facilities was 94.3% for this first quarter (which was 96.7% in the same period ofa year earlier) and we now have 179 offices in 102 locations as of the end of the first quarter of the current consolidated
fiscal year. As a result, sales were 4,651,226 thousand yen (up 7.5% YoY) and segment income was 340,087 thousand yen(up 2.5% YoY).
b. Karaoke BusinessWe strived to increase the unit price by enhancing our food menu and lunch menu in the Karaoke Business, and theaverage spend per customer rose 3.4% from the same period of the previous year. In addition, we continued to look toincrease repeat customers by strengthening acquisition of SNS members and by distributing coupons. As a result, sales were1,702,389 thousand yen (up 0.4% YoY) and segment income was 167,627 thousand yen (up 45.8% YoY).
We newly opened a store and closed three stores in the current first quarter. As a result, the number of stores is 89 as ofthe end of the first quarter of this consolidated fiscal year.
c. Restaurant Business
For the Restaurant Business segment, there was not any opening of new stores. Accordingly, the number of stores as ofthe end of the first quarter of this consolidated fiscal year is 17 inside Japan, and 2 outside Japan. As for existing restaurants,
customers were decreasing, and so we strived to increase them with a limited offer. As a result, sales were 353,175 thousandyen (down 13.1% YoY) and segment income was 15,182 thousand yen (down 13.0% YoY).

2

d. Real Estate BusinessIn the Real Estate Business, both sales and profit significantly grew owing to the large-scale real estate for sale that thecompany sold. As a result, sales were 2,743,053 thousand yen (58,757 thousand yen at the same period of the previous year)
and segment income was 519,591 thousand yen (8,307 thousand yen at the same period of the previous year).
e. Other businesses
In the other businesses segment, the company made efforts to increase guests, secure bookings for parties, promote day
trips for bathing, etc. in the hotel business. As a result, sales were 55,188 thousand yen (up 0.1% YoY) and segment loss was
16,539 thousand yen (segment loss was 7,823 thousand yen during the same term last year).

(2) Analysis Concerning Financial Situation
Total assets as of the end of the first quarter of this consolidated fiscal year came to 30,430,429 thousand yen, up 358,394
thousand yen from the end of the previous consolidated fiscal year.
Current assets came to 15,847,879 thousand yen, up 298,348 thousand yen from the end of the previous consolidated fiscal
year. This is mainly because cash and deposit increased and real estate for sale decreased.
Noncurrent assets came to 14,582,550 thousand yen, up 60,045 thousand yen from the end of the previous consolidated
fiscal year. This is mainly because investments and other assets (other) increased and property, plant and equipment (other)decreased.
Liabilities as of the end of the first quarter of this consolidated fiscal year came to 13,696,500 thousand yen, down 145,634
thousand yen from the end of the previous consolidated fiscal year.
Current liabilities came to 6,896,571 thousand yen, up 139,722 thousand yen from the end of the previous consolidated
fiscal year. This is mainly because short-term loans payable increased and income taxes payable and current liabilities (other)decreased.
Noncurrent liabilities came to 6,799,928 thousand yen, down 285,357 thousand yen from the end of the previous
consolidated fiscal year. This is mainly because long-term loans payable and noncurrent liabilities (other) decreased.
Net assets as of the end of the first quarter of this consolidated fiscal year came to 16,733,928 thousand yen, up 504,029
thousand yen from the end of the previous consolidated fiscal year. This is mainly because of an increase in retained earnings
arising from profit attributable to owners of parent and a decrease due to cash dividends paid.

(3) Analysis Concerning Future Forecasts Including Consolidated Financial Projections
As for the consolidated financial projections for the term ending March 2020, there are no changes to the estimated values
announced on May 10, 2019.

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2. Consolidated Financial Statements(1) Consolidated Balance Sheets(Thousands of yen)
FY ended March 31, 2019
(As of March 31, 2019)

1Q of FY ending March 31, 2020
(As of June 30, 2019)

AssetsCurrent assets
Cash and deposits

9,159,666

11,529,676

Notes and accounts receivable-trade
Merchandise

2,088,868
53,6672,175,569
49,839Real estate for sale
Supplies

3,255,629
262

1,065,565
407

997,447

1,031,672(6,010)(4,851)

15,549,530

15,847,879

5,484,524
2,776,844

5,473,669
2,805,165

Other
Allowance for doubtful accounts
Total current assets
Noncurrent assets
Property, plant and equipment
Buildings and structures, net
Land
Other, net

566,688532,3718,828,058

8,811,206

62,00358,539Other
Allowance for doubtful accounts

5,655,066

5,735,167(22,624)(22,363)

Total investments and other assets

5,632,442

5,712,804

14,522,504

14,582,550

30,072,034

30,430,429

632,235

551,755

357,000
60,000969,400
60,0002,673,723
445,158

2,557,443
243,336

Provision for bonuses
Provision for point card certificates

241,764
89,429370,875
91,365

Provision for shareholder benefit program
Asset retirement obligation

13,095
16,411－
13,792Other

2,228,031

2,038,603

Total current liabilities

6,756,849

6,896,571

240,000

240,000

Long-term loans payable
Asset retirement obligation

5,612,131
212,532

5,395,904
213,818

Other

1,020,622

950,206

Total noncurrent liabilities

7,085,286

6,799,928

13,842,135

13,696,500

Total property, plant and equipment
Intangible assets
Investments and other assets

Total noncurrent assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable-trade
Short-term loans payable
Current portion of bonds
Current portion of long-term loans payable
Income taxes payableNoncurrent liabilities
Bonds payable

Total liabilities

4

(Thousands of yen)
FY ended March 31, 2019
(As of March 31, 2019)

1Q of FY ending March 31, 2020
(As of June 30, 2019)

Net assets
Shareholders’ equity
Capital stock

2,222,935

2,222,935

Capital surplus
Retained earnings

2,664,695
12,600,748

2,664,695
13,062,608

Treasury stock(1,164,420)(1,164,420)

Total shareholders’ equity

16,323,959

16,785,819(94,272)(51,461)

212

(429)

Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Foreign currency translation adjustment(94,059)(51,890)

Total net assets

16,229,899

16,733,928

Liabilities and net assets

30,072,034

30,430,429

Total accumulated other comprehensive income5(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Consolidated Statements of Income
The first quarter of this consolidated fiscal year
(Thousands of yen)
1Q of FY ended March 31, 2019
(April 1, 2018 - June 30, 2018)

1Q of FY ending March 31, 2020
(April 1, 2019 - June 30, 2019)

Net sales

6,541,138

9,505,034

Cost of sales

5,949,242

8,320,026

Gross profit

591,896

1,185,007Selling, general and administrative expenses

467,835

430,693

Operating income (loss)

124,060

754,314

Interest income
Dividends income

1,267
2,324

1,688
15,683

Commission fee
Subsidy income

60,892
21,212

27,76442,302Other

36,59525,642

Total non-operating income

122,291

113,081Interest expenses
Foreign exchange losses

16,6391,696

15,162
4,984

Other

13,246

4,029

Non-operating income

Non-operating expenses

31,582

24,176

Ordinary income

Total non-operating expenses

214,769

843,219

Extraordinary loss
Impairment loss

10,042－

Total extraordinary loss

10,042－

Income before income taxes

204,727

843,219

Income taxes-current

99,893

231,262

Income taxes-deferred(24,904)

53,080Total income taxes

74,988284,343

Net income

129,738

558,875

Net profit attributable to owners of parent

129,738

558,875

6

Consolidated Statements of Comprehensive Income
The first quarter of this consolidated fiscal year
(Thousands of yen)
1Q of FY ended March 31, 2019
(April 1, 2018 - June 30, 2018)

Net income
Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment

1Q of FY ending March 31, 2020
(April 1, 2019 - June 30, 2019)

129,738

558,875(9,069)263

42,811(641)(8,806)42,169Comprehensive income

120,932

601,045

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

120,932

601,045－－

Total other comprehensive income7(3) Notes Regarding Consolidated Financial Statements(Notes regarding premise of a going concern)
Nothing is applicable.
(Notes on significant changes in the amount of shareholders’ equity)
Nothing is applicable.
(Additional information)(Transactions to provide our own shares to employees through a trust)
We introduced a stock benefit trust (J-ESOP) system (hereinafter “this system”) incentive plan to offer our own shares to
employees (including the employees of our subsidiaries; hereinafter the same) at a Board of Directors’ meeting held on August
10, 2018. This aims to further enhance the interrelation between our stock price and performance and the treatment of ouremployees while improving their motivation to improve our performance.
(1) Overview of transactions
This system is a mechanism to offer our own shares to employees who satisfy certain requirements based on the stock benefit
regulations we have established in advance. We have acquired the shares to be offered to our employees, including those for the
future, through a trust (hereinafter “this trust”) we established in advance. We are managing these shares separately as trust
assets.
(2) Our own shares remaining in the trust
We have recorded our own shares remaining in the trust as treasury stock under net assets according to their book value(excluding the amount of incidental expenses) in the trust. The applicable treasury stock book value are 35,137 thousand yen
and 35,137 thousand yen as of the end of the previous consolidated fiscal year and as of the end of the first quarter of thisconsolidated fiscal year, respectively, and the number of shares are 72,150 and 72,150 as of the end of the previous
consolidated fiscal year and as of the end of the first quarter of this consolidated fiscal year, respectively.

8

(Segment information, etc.)[Segment information]
I. Cumulative period through the consolidated first quarter of the previous fiscal year (April 1 – June 30, 2018)
1. Information on sales, profits or losses, assets, liabilities, and other items for each segment(Thousands of yen)
Reporting segments

Consolidated

Other
businesses

Total

Adjustment statements ofamount*2

incomeNursing Care

Karaoke

Restaurant

Real EstateBusiness

Business

Business

Business

4,326,261

1,694,797

406,21058,757

6,486,026

55,112

6,541,138－

6,541,138

－

2,604

10,909300

13,814－

13,814(13,814)－

Total

4,326,261

1,697,402

417,11959,057

6,499,840

55,112

6,554,952(13,814)

6,541,138

Segment income (loss)

331,905

114,989

17,4508,307

472,652(7,823)464,828(340,768)

124,060

Total(Note) *1

amount*3

Sales
Sales to externalcustomers
Internal sales ortransferred amountamong the segments(Note) 1. The classification “other businesses” refers to business segments that are not included in reporting segments, andincludes hotel business.
2. The segment income (loss) adjustments amount, -340,768 thousand yen, includes 120,993 thousand yen inelimination of intersegment transactions and -461,761 thousand yen in company-wide expenses that are not allocatedto reporting segments. The company-wide expenses are mainly selling, general and administrative expenses that are
not allocated to reporting segments.
3. Segment income (loss) is adjusted with operating income calculated in the consolidated statements of income.
2. Information on impairment of noncurrent assets, goodwill, etc. for each reporting segment(Significant impairment of noncurrent assets)
In the current consolidated cumulative first quarter, the company recorded impairment loss of 3,608 thousand yen in the“Karaoke Business” segment and that of 6,433 thousand yen in the “Restaurant Business” segment as for stores that it
closed and ones that it planned to close.

9II. Cumulative period through the consolidated first quarter of current fiscal year (April 1 – June 30, 2019)
1. Information on sales, profits or losses, assets, liabilities, and other items for each segment(Thousands of yen)
Reporting segments

Consolidated

Other
businesses

Nursing Care

Karaoke

Restaurant

Real Estate

Total

Total

(Note) *1

Adjustment statements ofamount*2

incomeamount*3

Business

Business

Business

Business

4,651,226

1,702,389

353,175

2,743,053

9,449,845

55,1889,505,034－

9,505,034

－

3,148

8,938

300

12,387

3

12,390(12,390)－

Total

4,651,226

1,705,538

362,1142,743,353

9,462,232

55,192

9,517,424(12,390)

9,505,034

Segment income (loss)

340,087

167,627

15,182519,591

1,042,487(16,539)

1,025,948(271,633)

754,314

Sales
Sales to externalcustomers
Internal sales ortransferred amountamong the segments(Note) 1. The classification “other businesses” refers to business segments that are not included in reporting segments, andincludes hotel business.
2. The segment income (loss) adjustments amount, -271,633 thousand yen, includes 141,632 thousand yen inelimination of intersegment transactions and -413,266 thousand yen in company-wide expenses that are not allocatedto reporting segments. The company-wide expenses are mainly selling, general and administrative expenses that are
not allocated to reporting segments.
3. Segment income (loss) is adjusted with operating income calculated in the consolidated statements of income.
2. Information on impairment of noncurrent assets, goodwill, etc. for each reporting segment
Nothing is applicable.

10