Note: This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy
between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results
for the Three Months Ended June 30, 2023
[Japanese GAAP]
August 8, 2023
Company name:
Nitori Holdings Co., Ltd.
Stock exchange listing: Tokyo, Sapporo
Code number:
9843
URL:
https://www.nitorihd.co.jp/
Representative:
Toshiyuki Shirai
President and Chief Operating Officer
Contact:
Masaomi Zenji
Executive Officer, General Manager, Accounting and Finance Division
Phone:+81-3-6741-1204
Scheduled date of filing quarterly securities report:
August 8, 2023
Scheduled date of commencing dividend payments:
Availability of supplementary briefing material on quarterly financial results: Yes
Schedule of quarterly financial results briefing session:
Yes (for institutional investors and analysts)(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Three Months Ended June 30, 2023 (April 1, 2023 to June 30, 2023)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Million yen%
Million yen%
Million yen%
Million yen%Three months ended
June 30, 2023
218,504
0.9
32,973(10.7)
33,518(9.3)
22,913(8.1)
May 20, 2022
216,648
0.6
36,917(13.7)
36,971(14.9)
24,942(14.3)(Note) Comprehensive income:Three months ended June 30, 2023:¥26,767 million [(18.8) %]Three months ended May 20, 2022:¥32,959 million [(1.7) %]Basic earnings
per share
Three months ended
June 30, 2023
May 20, 2022

Diluted earnings pershare
Yen

Yen

202.76220.85-(2) Consolidated Financial Position
Total assets
As ofJune 30, 2023
March 31, 2023
(Reference) Equity:

Net assets

Million yen

1,112,912
1,133,771
As of June 30, 2023:
As of March 31, 2023:

Capital adequacy ratio

Million yen¥¥

836,590818,096
836,590 million
818,096 million

―1―%

75.2
72.2

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

YenFiscal year ended March 31, 2023

-73.00-73.00146.00Fiscal year ending March 31, 2024

75.00

-75.00150.00Fiscal year ending March 31, 2024
(Forecast)(Note) Revision to the forecast for dividends announced most recently:

Year-end

Total

No

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024(April 1, 2023 to March 31, 2024)(% indicates changes from the previous corresponding period.)
Profit attributable
Basic earnings
Net sales
Operating profit
Ordinary profit
to owners ofper shareparent
Million yen%

Million yen%Six months ending
440,200
4.0
64,100(7.2)
September 30, 2023
Full year
932,000(1.7)
145,100
3.6(Note) Revision to the financial results forecast announced most recently:

Million yen%

Million yen%

Yen

65,000(7.7)

44,500(13.5)

393.76

147,000No

2.0

100,000

5.1

884.86* Notes:(1) Changes in significant subsidiaries during the three months ended June 30, 2023
(changes in specified subsidiaries resulting in changes in scope of consolidation):(Company name:
NewExclusion:(Company name:No(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:))
Yes(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: Yes
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
June 30, 2023:
114,443,496 shares
March 31, 2023:
114,443,496 shares
2) Number of treasury shares at the end of the period:
June 30, 2023:
1,431,541 shares
March 31, 2023:
1,431,761 shares
3) Average number of shares outstanding during the period:
Three months ended June 30, 2023:
Three months ended May 20, 2022:

113,011,758 shares
112,936,675 shares*Quarterly financial results reports are not required to be subjected to quarterly reviews.
*Explanation for appropriate use of financial forecasts and other special notes
The forecasts given in this document are based on the current available information in the company and certain reasonableassumptions to the company. And we don’t commit to achieve these forecasting numbers. Actual results may differ from these
forecasts by a variety of reasons.

―2―Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets(Million yen)
As of March 31, 2023

As of June 30, 2023

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade131,928
57,408

127,734
43,727

Merchandise and finished goods
Work in process

112,401
479

100,149682

Raw materials and supplies
Other7,496
20,641

6,440
16,199Allowance for doubtful accounts

(1)

(8)

330,353294,925

Buildings and structures, net
Land203,356
377,009205,224
384,144

Other, net

69,11376,422

Total property, plant and equipment

649,479

665,791

Goodwill
Other

19,61913,386

18,97913,300Total intangible assets

33,00532,279Investments and other assets
Investment securities

Total current assets
Non-current assets
Property, plant and equipment

Intangible assets

39,08939,899Long-term loans receivable
Guarantee deposits

562
16,893551
16,869Leasehold depositsDeferred tax assets

30,313
21,76530,28020,518

Other
Allowance for doubtful accounts

12,379(72)

11,867(72)

Total investments and other assets

120,932

119,915

Total non-current assets

803,417

817,986

1,133,771

1,112,912

Notes and accounts payable - trade
Short-term borrowings

38,45983,06832,75886,068

Lease obligations
Accounts payable - other

1,602
24,0581,600
26,677

Income taxes payable
Contract liabilities

28,351
23,774

12,071
15,843

Provision for bonuses
Provision for point card certificates

8,380
11

10,14111422220290
221

Other13,419

13,543

Total current liabilities

221,769

199,228

Total assets
Liabilities
Current liabilities

Provision for shareholder benefit program
Provision for loss on business liquidation―3―(Million yen)
As of March 31, 2023
Non-current liabilities
Long-term borrowings

As of June 30, 2023

57,33040,796

Lease obligations
Provision for retirement benefits for directors (andother officers)
Retirement benefit liability

4,598

4,218

228

228

5,886

5,827

Asset retirement obligations
Other14,800
11,06014,952
11,069Total non-current liabilities

93,90577,093

315,674

276,322

Shareholders' equity
Share capital

13,37013,370Capital surplus
Retained earnings

30,711
771,743

30,715786,378

Total liabilities
Net assets

Treasury shares(10,111)(10,111)

Total shareholders' equity

805,714820,353

1,769

3,142

Deferred gains or losses on hedges
Foreign currency translation adjustment(1,829)12,47913,145Remeasurements of defined benefit plans

(36)

(51)

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

Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets―4―

12,382

16,236

818,096

836,590

1,133,771

1,112,912

Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the three months)(Million yen)
For the three months
ended May 20, 2022

For the three months
ended June 30, 2023

Net sales
Cost of sales

216,648
105,032

218,504
107,452

Gross profit

111,616

111,052

Selling, general and administrative expenses

74,69878,078Operating profit

36,91732,973

Interest income
Dividend income122-270
256

Foreign exchange gains
Subsidy income

12479

166
53

Vending machine income
Gain on sales of goods

80
567671Other281309

Total non-operating income

744

1,203

90

127474496

Non-operating income

Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity
methodOther
Total non-operating expenses
Ordinary profit

124

34

689

658

36,971

33,518Extraordinary income
Gain on sale of non-current assets

50

Total extraordinary income

50845311327

Extraordinary losses
Loss on sale and retirement of non-current assets
Impairment losses
Loss on change in equity

1-Total extraordinary losses

463

339

Profit before income taxes

36,51333,180

Income taxes

11,571

10,266

Profit24,942

22,913

Profit attributable to owners of parent

24,942

22,913―5―

Quarterly Consolidated Statements of Comprehensive Income (For the three months)(Million yen)
For the three months
ended May 20, 2022
ProfitOther comprehensive income

For the three months
ended June 30, 2023

24,942

22,913

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges36
4,664

1,373
1,829

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

3,288
28666
(15)

Total other comprehensive income
Comprehensive income

8,017

3,853

32,95926,767

32,95926,767

Comprehensive income attributable toOwners of parent―6―