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 Six Months Ended September 30, 2022
(Based on Japanese GAAP)
October 31, 2022
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:

November 11, 2022
December 1, 2022

Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results meeting:

Yes
Yes

06-6373-5013(for institutional investors and analysts)(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the six months ended September 30, 2022 (from April 1, 2022 to September 30, 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%Six months ended September 30, 2022
467,160
50.3
48,754 382.5
49,494 409.9
31,050 430.1
Six months ended September 30, 2021
310,835–
10,104–
9,707
–
5,857
–
Earnings per share

Diluted earnings per share

Yen
128.8724.31

Six months ended September 30, 2022
Six months ended September 30, 2021Yen
128.8624.27(2) Consolidated financial position
Total assets
As of September 30, 2022
As of March 31, 2022

Net assets

Millions of yen
2,762,931
2,722,841

Equity ratio

Millions of yen
950,121915,363

%
32.6
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
925,000
24.0
70,00078.5
68,00076.9
40,00086.8
166.01

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4. Notes(1) Changes in significant subsidiaries during the six months ended September 30, 2022
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(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 September 30, 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 September 30, 2022

13,318,754 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)
Six months ended September 30, 2022

240,946,146 shares Six months ended September 30, 2021

2240,952,657 shares

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

As of September 30, 2022

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade

31,331
112,568

35,275103,265

Land and buildings for sale
Merchandise and finished goods

166,331
2,372

176,5022,486Work in process
Raw materials and supplies

2,131
5,464

4,873
5,634

OtherAllowance for doubtful accounts

46,018(408)

40,116(446)

Total current assets

365,811367,707

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

646,40760,314

633,892
59,954Land
Construction in progress

973,012218,215

975,329223,365

Other, net

25,02324,182

1,922,974

1,916,725

Goodwill
Other

9,655
27,8568,494
27,175

Non-current assets
Property, plant and equipment

Total property, plant and equipment
Intangible assets

Total intangible assets

37,51235,669Investments and other assets
Investment securities

316,231

363,125

Deferred tax assets
Retirement benefit asset

7,218
18,505

7,259
18,564

Other
Allowance for doubtful accounts

54,917(329)

54,211(333)

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

3396,544

442,828

2,357,030

2,395,223

2,722,841

2,762,931

(Millions of yen)
As of March 31, 2022

As of September 30, 2022

Liabilities
Current liabilities
Notes and accounts payable - trade

40,69940,175

Accrued expenses
Short-term borrowings

16,853
145,737

14,721
195,471

Commercial papers
Current portion of bonds payable

50,0007,000

55,00020,000

Lease liabilities
Income taxes payable

3,834
6,380

3,885
9,314

Provision for bonuses
Other

3,682
152,471

4,660
121,334

Total current liabilities

426,659

464,563

Non-current liabilities
Long-term borrowings

649,476

626,672

Bonds payable
Lease liabilities

230,000
9,916

210,000
9,651

Deferred tax liabilities
Deferred tax liabilities for land revaluation

176,516
5,182

182,176
5,182

Retirement benefit liability
Long-term deferred contribution for construction

62,795
117,561

62,431
124,280

Other

129,369

127,851

1,380,818

1,348,246

1,807,477

1,812,809

Share capital
Capital surplus

99,474
147,358

99,474
147,370

Retained earnings
Treasury shares

645,212(48,713)670,193(48,646)

Total shareholders' equity

843,332

868,392

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

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

18,756

21,967

Deferred gains or losses on hedges
Revaluation reserve for land

7
5,499

29
5,499

Foreign currency translation adjustment
Remeasurements of defined benefit plans

435
2,317

3,805
2,041

Total accumulated other comprehensive income

27,01633,343

Non-controlling interests

45,014

48,385

Total net assets

915,363

950,1212,722,841

2,762,931

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

Six months ended

Six months ended

September 30, 2021

September 30, 2022

310,835

467,160

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

287,608
13,122403,877
14,528

Total operating expenses

300,730

418,406

10,10448,75477523

121527

Share of profit of entities accounted for using equity methodMiscellaneous income

3,451
858

3,809
1,419

Total non-operating income

4,910

5,877

Operating profit
Non-operating income
Interest income
Dividend income

Non-operating expenses
Interest expenses

4,289

4,192

Miscellaneous expenses

1,018

944

Total non-operating expenses

5,308

5,137

9,707

49,494Contribution for construction
Subsidies for employment adjustment

27,100
6,574

318
532

Other

4,409

282

Total extraordinary income

38,085

1,134

27,122
7,448

320
943

Ordinary profit
Extraordinary income

Extraordinary losses
Loss on tax purpose reduction entry of non-current assets
Loss on COVID-19
Other630

713

35,201

1,976

Profit before income taxes

12,59048,651

Income taxes - current
Income taxes - deferred

3,844
1,052

10,018
5,579

Total income taxes

4,897

15,597

Profit7,693

33,054

Profit attributable to non-controlling interests

1,835

2,004

Profit attributable to owners of parent

5,857

31,050Total extraordinary losses

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

ProfitOther comprehensive income

Six months ended

Six months ended

September 30, 2021

September 30, 2022

7,693

33,054

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges(1,226)
(20)

2,471
22

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

1,271
(309)

4,209
(291)

705

2,135

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

420

8,548

8,114

41,603

5,735

37,377

2,378

4,225

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 first half of the year ending March 31, 2023
Consolidated Statements of Income (Summary)(Millions of yen)
H1 FY2023
Results

H1 FY2022
Results①②

Revenue from operations

467,160

310,835

156,325

Operating income

48,754

10,10438,650Ordinary income

49,494

9,707

39,787

Net income attributable toowners of the parent

31,0505,857

25,192

Change=①-②

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

Revenue from operations
H1 FY2023
Results

H1 FY2022
Results①②

Urban Transportation

90,591

76,480

14,111

11,859(328)12,187

Real Estate

128,902

98,09630,806

11,595

7,000

4,594

Entertainment

43,211

34,407

8,803

13,871

8,084

5,786

Information andCommunication Technology

26,47527,291

(815)

1,606

2,009

(403)

Travel

86,007

8,215

77,792

8,153(8,362)

16,516

International
Transportation

87,20460,357

26,846

3,626

3,320

305

Other

21,903

21,638

265

420

542

(122)

Adjustment(17,136)(15,652)(1,484)(2,377)(2,161)(215)

Change=①-②

H1 FY2023
Results

H1 FY2022
Results①②

Change=①-②

Note: In Q1 FY2023, we consolidated the Hotels segment into the Real Estate segment, making Hotels a sub-segment of Real Estate.
To enable year-on-year comparisons, we have applied this change retroactively to the comparative period (H1 FY2022).

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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 May）

FY2022
Results

Change=①-②

Change=①-③③②Revenue from operations

925.0

915.010.0

746.2

178.8

Operating income

70.0

63.0

7.0

39.2

30.8

Ordinary income

68.0

62.0

6.0

38.5

29.5

Net income attributable toowners of the parent

40.0

35.0

5.0

21.4

18.6

Consolidated Statements of Income (Breakdown for each business segment)(Billions of yen)
[Upper table]
Revenue from operations[Lower table]
Operating income

FY2023
Forecasts①

FY2023
Forecasts（As of May）

FY2022
Results

Change=①-②③②

Change=①-③

185.0

188.4

(3.4)

161.6

23.4

20.6

21.3

(0.7)

5.6

15.0

291.9

296.0

(4.1)

246.6

45.3

25.5

25.1

0.4

19.4

6.1

70.7

72.1

(1.4)

62.9

7.8

11.0

11.2(0.2)

9.3

1.7

63.9

63.9

－

59.2

4.7

5.9

5.9

－

5.9

0.0

138.0

160.0

(22.0)

60.4

77.6

4.5

(1.9)

6.4

(5.7)

10.2

166.0

120.0

46.0

143.3

22.7

6.0

4.5

1.5

8.0

(2.0)

Urban Transportation

Real EstateEntertainmentInformation 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