Note:

Please note that this document is a Japanese-English translation of the summary of the official announcement inJapanese “Kessan Tanshin” for reference purposes only.

(Correction) Partial Correction on July 31, 2020

Summary of Consolidated Financial Results
for the First Quarter Ended September 30, 2020〔Based on Japanese GAAP〕
February 14, 2020
Company name:Open House Co., Ltd.

Stock exchange listings:
Code Number:
URL:
Representative:
Scheduled date of quarterly securities report filing:
Supplementary materials for quarterly financial results:
Quarterly results briefing meeting :Tokyo Stock Exchange, First section3288
https://openhouse-group.co.jp/ir
Masaaki Arai, President and CEO
February 14, 2020
YesNo
(Million yen, rounded down)

1.

Consolidated Financial Results for the First Quarter Ended September 30, 2020
(October 1, 2019 to December 31, 2019)(1) Consolidated operating results (Cumulative)
Revenue(% figures indicate year-on-year change)

Operating income

Three months ended
Million yen%
Million yen%
December 31, 2019
126,987
20.9
14,51656.0
December 31, 2018
105,029
37.4
9,305
(3.4)
(Note) Comprehensive income: Three months ended December 31, 2019
Three months ended December 31, 2018
EPS
Three months ended
December 31, 2019
December 31, 2018

Profit attributable toowners of parent

Ordinary income
Million yen%

Million yen%

14,04572.2
9,790
8,155(13.2)
5,742¥ 10,237million [ 92.8％]¥ 5,308million [ (18.6)％]

70.5(11.9)

Diluted EPS
Yen

88.56
50.75

Yen

88.00
50.43(Note) The company conducted a 2-for-1 stock split of common stock with an effective date of October 1, 2019. EPS and Diluted EPS
calculated assuming the stock split was conducted at the beginning of the previous fiscal year.

(2) Consolidated Financial Position
Total assets
Net assets
Equity ratio
As ofMillion yen
Million yen%
December 31, 2019
459,021
144,668
31.4
September 30, 2019445,904
138,067
30.9(Reference) Shareholders’ equity: As of December 31, 2019
¥ 144,359 million
As of September 30, 2019
¥ 137,754 million

2.

Dividends

Annual dividends per share
1Q-end2Q-endYen――

FY 2019
FY 2020
FY 2020 (Forecast)(Note) Revision of the latest dividend forecast: No

3Q-endYear-end

Total

Yen
60.00

Yen―Yen
66.00

Yen
126.0040.00―40.0080.00

The company conducted a 2-for-1 stock split of common stock with an effective date of October 1, 2019. Though the dividend per sharefor 2019 is shown the actual amount without considering the stock split, the divided forecast per share for FY2020 is the amount after
the stock split. So, annual dividend per share for FY2019 , if calculated on after-stock-split basis, would be ¥63, the dividend forecast for
FY 2020 is an increase of 17 yen per share from the previous fiscal year.
Open House Co., Ltd. (3288)

1|3.

Forecast of Consolidated Operating Results for FY2020(October 1, 2019 to September 30, 2020)(% figures indicate year-on-year change)

Operating income

Ordinary income

Profit attributable toowners of parent

Million yen%

Million yen%

Million yen%

Yen

2Q (Cumulative)
260,000
7.1
25,700
8.0
Full year
600,000 11.0
65,50013.4(Note) Revision of the latest consolidated results forecast: No

24,50063,00010.4
14.7

17,15044,100

6.3
11.9

155.14398.92

Revenue
Million yen%EPS

The Company conducted a 2-for-1 stock split of common stock with an effective date of October 1, 2019. The forecast information
about EPS for FY2020 is provided after taking the stock split into consideration.

*Notes:(1) Significant changes in consolidated subsidiaries during the period(Changes in specific subsidiaries resulting in a change in the scope of consolidation): None
(2) Adoptions of special accounting methods in presentation of quarterly financial statements: Yes(3) Changes in accounting policies, changes of accounting estimates, and revisions and restatementsⅰ) Changes in accounting policies in accordance with changes in accounting principles: Noneⅱ) Changes in accounting policies other than the above:

Noneⅲ) Changes in accounting estimates:

Noneⅳ) Revisions and restatements:

None(4) Number of shares issued and outstanding (common stock)ⅰ) Number of shares issued at period-end (including treasury stock)
December 31, 2019:

115,258,200 shares

September 30, 2019:

115,237,000 shares

September 30, 2019:

4,694,502 sharesⅱ) Treasury stock at period-end
December 31, 2019:

4,694,502 sharesⅲ) Average number of shares issued during the period (quarterly consolidated cumulative basis)
December 31, 2019:110,547,337 shares

December 31, 2018 :

113,156,888 shares(Note) The Company conducted a 2-for-1 stock split of common stock with an effective date of October 1, 2019. “Number ofshares issued at period-end”, “Treasury stock at period-end”, and “Average number of shares issued” calculated assuming thestock split were conducted at the beginning of the previous fiscal year.

* This quarterly financial results report is not subject to quarterly review procedure based on the Financial Instruments andExchange Act.
* Notes regarding forward-looking statements:Consolidated business forecasts are based on assumptions from information available to management at the time ofdisclosure and those deemed to be reasonable.
Actual results may differ significantly from forecast due to various unpredictable reasons.

Open House Co., Ltd. (3288)

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Consolidated Quarterly Financial Statements1）Consolidated Quarterly Balance Sheets(Million yen)

AssetsCurrent assets
Cash and deposits
Operating accounts receivable
Real estate for sale
Real estate for sale in process
Operating loans
Other
Allowance for doubtful accounts
Total current assets

End of FY2019(as of September 30, 2019)

End of FY2020 1Q(as of December 31, 2019)

135,354
498
70,457
179,596
28,924
10,167(232)

139,635
642
67,964
186,129
32,38910,795(230)

424,766

437,327

Non-current assets
Property, plant and equipment
Intangible assets
Investments and other assets

4,990
3,456
12,6594,948
3,344
13,371

Total non-current assets

21,106

21,664

Deferred assets

3129

445,904

459,021

4,257
16,91389,933372
12,976
11,461
3,336
23,097

4,067
16,31390,199292
20,5634,388
2,047
21,176

Total current liabilities162,348

159,048

Non-current liabilities
Bonds payable
Long-term loans payable
Net defined benefit liability
Asset retirement obligations

1,089
143,972
326
100

1,089
153,778
336
100

Total non-current liabilities

145,488

155,304

307,837

314,352

4,234
8,206
134,629(8,806)

4,242
8,214
140,770(8,806)

Total assets
Liabilities
Current liabilities
Notes payable
Operating accounts payable
Short-term loans payable
Current portion of bonds
Current portion of long-term loans payable
Income taxes payable
Provision
OtherTotal liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury shares

138,263

144,421

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment

Total shareholders’ equity

8(517)

9(71)Total accumulated other comprehensive income(508)(62)

Subscription rights to shares
Total net assets
Total liabilities and net assets

312

308

138,067

144,668

445,904

459,021

Open House Co., Ltd. (3288)

3|2）Consolidated Quarterly Statements of Income and Consolidated Quarterly Statements of Comprehensive Income
Consolidated Quarterly Statements of Income(Million yen)Three months ended
December 31, 2018
(From October 1, 2018
to December 31, 2018)

Three months ended
December 31, 2019
(From October 1, 2019
to December 31, 2019)

Revenue

105,029

126,987

Cost of revenue

88,556

104,577

Gross profit

16,47322,409Selling, general and administrative expenses

7,167

7,893

Operating income

9,305

14,5161624

Non-operating income
Interest income
Dividends income

10House rent income

4431

Foreign exchange gains―34

Other3045

Total non-operating income

93136

Interest expenses

409

504

Commission fee

670

65

Other163

37

1,243

607

Ordinary income

8,155

14,045

Income before income taxes

8,155

14,045

Income taxes

2,412

4,254

Profit

5,742

9,790

Profit attributable to owners of parent

5,742

9,790

Non-operating expenses

Total non-operating expenses

Open House Co., Ltd. (3288)

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Consolidated Quarterly Statements of Comprehensive Income(Million yen)Three months ended
December 31, 2018
(From October 1, 2018
to December 31, 2018)
ProfitThree months ended
December 31, 2019
(From October 1, 2019
to December 31, 2019)

5,742

9,790

(3)

1(430)

445

Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total other comprehensive income
Comprehensive income

(433)

446

5,308

10,237

5,308

10,237

Comprehensive income attributable toComprehensive income attributable to owners ofparent

Open House Co., Ltd. (3288)

5|3) Notes to Consolidated Quarterly Financial Statements(Notes on Going Concern Assumptions)Not applicable(Changes in significant subsidiaries during the period)
Not applicable(Significant changes in consolidated subsidiaries during the period)
Not applicable(Adoption of Special Accounting Methods for Preparation of Quarterly Consolidated Financial Statements)
Tax expenses is calculated by multiplying income before income taxes by an effective tax rate that was reasonably
estimated by applying tax effect accounting to estimated income before income taxes for the fiscal year ended
September 2020 including the first quarter under review.
(Segment and Other Information)【Segment Information】
Ⅰ. Three months ended December 31, 2018 (October 1, 2018 to December 31, 2018)
Information on revenue, income or loss, and other items by reportable segment（Million yen）
Amount Recorded on
Adjustments
Consolidated(Note 1)
Quarterly Statementsof Income (Note 2)

Reportable Segment
Single-family
Condominiums
homes related
Revenue
Revenue from Outside
Customers
Intersegment revenueand transfers
Total
Segment Income (Loss)

Property
resales

OthersTotal

78,995

6,504

13,0296,498

105,029

―

―

10―

10

78,995

6,504

13,040

6,498

7,189

620

915

841

―

105,029(10)―

105,040(10)

105,029

9,567(261)9,305(NOTE)１. Adjustment of ¥(261)million for segment income includes intersegment elimination of ¥42 million and corporate expenses of¥(304) million that is not distributed to the reportable segments. Corporate expenses are primarily general and administrative
expenses that do not belong to the reportable segments.
2. Segment income has been adjusted to operating income described in consolidated quarterly statements of income.

Ⅱ. Three months ended December 31, 2019 (October 1, 2019 to December 31, 2019)
Information on revenue, income or loss, and other items by reportable segment（Million yen）Amount Recorded on
Adjustments
Consolidated(Note 1)
Quarterly Statementsof Income (Note 2)

Reportable Segment
Single-family
Condominiums
homes related
Revenue
Revenue from Outside
Customers
Intersegment revenueand transfers

Property
resales

OthersTotal

90,7983,509

26,093

6,586

126,987―

126,987

―

―

15

9

24

(24)

―

Total

90,798

3,509

26,1096,595

127,012(24)

126,987

Segment Income (Loss)

10,331

(175)

3,825

817

14,799(283)

14,516(NOTE)
１. Adjustment of ¥ (283) million for segment income includes intersegment elimination of ¥172 million and corporate expenses of¥ (455) million that is not distributed to the reportable segments. Corporate expenses are primarily general and administrative
expenses that do not belong to the reportable segments.
2. Segment income has been adjusted to operating income described in consolidated quarterly statements of income.

Open House Co., Ltd. (3288)

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(Important Subsequent Events)
The Company resolved at a meeting of its Board of Directors held on January 14, 2020, to issue new shares (the“Issuance of NewShares”) as restricted stock compensation, and completed the payment on February 5, 2020.
1. Outline of the Issuance(1) Payment dateFebruary 5, 2020

(2) Class and number of shares to be issued

25,500 shares of common stock of the Company(3) Issue price

3,175 yen per share(4) Total issue price of shares to be issued

80,962,500 yen(5) Allottees

3 Directors, Member of Board (excluding Outside Directors) of theCompany
12,800 shares(6) Other

4 Executive officers of the Company

5,900 shares

4 Executive officers of the Company’s major subsidiaries,

6,800 shares

Issuance of New Shares to be allotted is conditioned on the securities
registration statement taking effect in accordance with the Financial
Instruments and Exchange Act.

2. Purpose and Reasons for the Issuance
At a meeting of the Board of Directors held on November 14, 2017, the Company has resolved to introduce a restricted stockcompensation plan (hereafter the “Plan”) as a new compensation plan for the Company’s directors (excluding outside directors),
for the purpose of providing further incentive to them to increase the stock price and the corporate value of the Company byfurther sharing the benefits and risks of stock price fluctuations with shareholders. Moreover, at the 21st Ordinary General
Meeting of Shareholders held on December 20, 2017, approval was given for the total amount of monetary compensation
claims to be paid as remuneration in connection with the restricted shares to the Company’s directors (excluding outsidedirectors) based on the Plan to be set at no more than 200 million yen per year, and for the maximum amount of the total
number of restricted shares to be allocated to the Company’s directors (excluding outside directors) in each fiscal year to be set
at 140,000 shares. (As the company conducted a 2-for-1 stock split of common stock with an effective date of October 1, 2019,the number of shares adjusted from 70,000 shares to 140,000 shares.) Approval was also given for setting the restricted period
for the restricted shares at a period between 3 years and 5 years.

Open House Co., Ltd. (3288)

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