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.

Summary of Consolidated Financial Results
For the First Quarter Ended September 30, 2016 〔Based on Japanese GAAP〕
February 12, 2016
Company name:
Stock exchange listings:
Code Number:
URL:
Representative:
Scheduled date of quarterly securities report filing:
Supplementary materials for quarterly financial results:
Quarterly results briefing meeting :Open House Co., Ltd.
Tokyo Stock Exchange, First section3288
http://openhouse-group.com/irMasaaki Arai, President and CEO
February 12, 2016
Yes
No
(Million yen, rounded down)

1.

Consolidated Financial Results for the First Quarter Ended September 30, 2016
（October 1, 2015 to December 31, 2015）(1) Consolidated operating results (Year-to-date)
Revenue

Operating income

Million yen

FY 2016 1Q
FY 2015 1Q(Note) Comprehensive income:(% figures indicate year-on-year change)%

Million yen

Profit attributable toowners of parent

Ordinary income%

61,049
110.3
8,509
211.7
29,035
59.3
2,729
52.9
From October 1, 2015 to December 31, 2015
From October 1, 2014 to December 31, 2014

Million yen%

Million yen

8,331
227.3
5,370
2,545
60.3
1,624
¥ 5,370 million (231.1%)¥ 1,622 million (72.4%)

%

230.7
72.4

EPS

Diluted EPS
YenYenFY 2016 1Q
94.91
94.57
FY 2015 1Q
28.30―(Note) The company conducted a 2-for-1 stock split of common stock with an effective date of July 1, 2015. 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
December 31, 2015September 30, 2015
(Reference) Shareholders’ equity:2.

Net assets

Million yen

164,053
162,447
As of December 31, 2015
As of September 30, 2015%

51,33747,609¥51,125 million yen¥47,453 million yen

31.2
29.2

Dividends
Annual dividends per share (Yen)
2Q-end3Q-endYear-end――
30.00

1Q-end――FY 2015
FY 2016
FY 2016 (Forecast)―(Note) Revision of the latest dividend forecast: No

3.

Equity ratio

Million yen

―

40.00

Forecast of Consolidated Operating Results for FY2016(October 1, 2015 to September 30, 2016)

Total30.0040.00(% figures indicate year-on-year change)

Operating income

Ordinary income

Profit attributable toowners of parent

Million yen%

Million yen%

Million yen%

Yen

2Q (Cumulative)
107,000 36.2
11,20030.9
Full year
240,000 33.8
25,00017.4(Note) Revision of the latest consolidated results forecast: No

10,70024,000

31.5
18.3

6,900
15,50035.7
22.7

121.94273.92

Revenue
Million yen%Open House Co., Ltd. (3288)

EPS

1|

*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:Yesⅱ) 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, 2015: 57,400,000 shares
September 30, 2015:ⅱ) Treasury stock at period-end
December 31, 2015: 813,373 shares

September 30, 2015:

57,400,000 shares
813,257 sharesⅲ) Average number of shares issued (cumulative consolidated quarterly periods)
December 31, 2015: 56,586,686 shares
December 31, 2014: 57,400,000 shares(Note）The company conducted a 2-for-1 stock split of common stock with an effective date of July 1, 2015. Number of sharesissued and outstanding (common stock) calculated assuming the stock split was conducted at the beginning of the previous
fiscal year.

* Notes regarding forward-looking statements:
Consolidated business forecasts are based on assumptions from information available to management at the time of disclosureand those deemed to be reasonable.
Actual results may differ significantly from forecast due to various unpredictable reasons.

Open House Co., Ltd. (3288)

2|

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

End of FY 2015
(September 30, 2015)

End of FY 2016 1Q(December 31, 2015)

AssetsCurrent assets
Cash and cash equivalents

43,33044,052

Accounts receivable, trade
Real estate for sale

628
22,235422
20,204

Real estate for sale in process
Operating loans

80,3795,657

81,926
5,797

OtherAllowance for doubtful accounts

4,476
（171）

4,504
（159）

Total current assets

156,535

156,749

Fixed assets
Tangible fixed assets

2,799

2,778

Intangible fixed assets
Investments and other assets

1,490
1,544

1,449
3,004

Total fixed assets

5,834

7,231

76

72

162,447

164,053

Deferred assets
Total assets
Liabilities
Current liabilities
Accounts payable

7,775

8,119

Short-term loans payable
Current portion of long-term loans payable

33,498
7,959

34,476
11,444Current portion of bonds
Income taxes payable

662
5,308

662
2,969

Reserves
Other

1,417
10,415943
10,841

Total current liabilities

67,03769,458Long-term liabilities
Bonds payable

3,137

2,987

Long-term loans payable
Net defined benefit liability

44,276
12

40,096
12

Asset retirement obligations
Other

96
277

100
60

Total long-term liabilities
Total liabilities

47,79943,257

114,837

112,716

Open House Co., Ltd. (3288)

3|(Million yen)

End of FY 2015
(September 30, 2015)

End of FY 2016 1Q(December 31, 2015)

Net assets
Shareholders’ equity
Capital stocks

3,982

3,982

Capital surplus

5,883

5,883

Retained earnings

38,711

42,384

Treasury stock（1,072）（1,072）

Total shareholders’ equity

47,50551,17788

Foreign currency translation adjustment

（60）

（60）

Accumulated other comprehensive income

（51）

（52）

156

211

Other comprehensive income
Net unrealized holding gains/losses on securities

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

47,60951,337

162,447

164,053

Open House Co., Ltd. (3288)

4|2）Consolidated Quarterly Statements of Income and Consolidated Quarterly Statements of Comprehensive Income
Consolidated Quarterly Statements of Income(Million yen)

1Q ended September 30, 2015
(From October 1, 2014
to December 31, 2014)

1Q ended September 30, 2016
(From October 1, 2015
to December 31, 2015)

Revenue

29,03561,049

Cost of revenue

24,292

48,893Gross profit

4,742

12,156

Selling, general and administrative expenses

2,013

3,646

Operating income

2,729

8,509

2028

1
18

Other11543

Total non-operating income

128

63

Interest expenses
Commission

202
91

205
5

Other

1831

Non-operating income
Interest income
Dividends income

Insurance income

Non-operating expenses

312

241

Ordinary income

Total non-operating expenses

2,545

8,331

Income before income taxes and minority interests

2,545

8,331

921

2,960

Income before minority interests

1,624

5,370

Profit attributable to owners of parent

1,624

5,370

Income taxes-current

Open House Co., Ltd. (3288)

5|

Consolidated Quarterly Statements of Comprehensive Income(Million yen)

Net income before minority interestsOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total other comprehensive income
Comprehensive income(Breakdown)Comprehensive income attributable to owners ofparent

1Q ended September 30, 2015
(From October 1, 2014
to December 31, 2014)

1Q ended September 30, 2016
(From October 1, 2015
to December 31, 2015)

1,624

5,370

2（4）
（2）

0（0）
（0）

1,622

5,370

1,622

5,370

Open House Co., Ltd. (3288)

6|3） Notes to Consolidated Quarterly Financial Statements(Notes on Going Concern Assumptions)Not applicable(Notes on Significant Changes in the Amount of Shareholders’ Equity)
Not applicable(Segment and Other Information)
Ⅰ FY2015 1Q (October 1, 2014 to December 31, 2014)
Information relating to the amounts of revenue, income and loss by reportable segment（Million yen）
Amount Recorded on
Adjustments Consolidated Quarterly(Note 1)
Statements of Income(Note 2)

Reportable Segment
Brokerage

Singlefamily
Homes

AsakawaHome

Condo

Property
Resales

OthersTotal

826

21,163－

80

6,868

96

29,035－827－－－－

13841（841）

－

Total

1,654

21,163－

80

6,868

110

29,876（841）29,035

Segment Income (Loss)

618

1,554－（270）

840

30

2,773

（43）

2,729

Revenue
Revenue from
Outside Customers
Intersegment
revenue and transfers

29,035(Note)
１.

2.

Adjustment of -¥43 million for segment income includes intersegment elimination of ¥6 million and corporate
expenses of -¥50 million that is not distributed to the reportable segments. Corporate expenses are primarily generaland administrative expenses that do not belong to the reportable segments.
Segment income has been adjusted to operating income described in consolidated quarterly statements of income.
Ⅱ FY2016 1Q(October 1, 2015 to December 31, 2015)

ⅰ Information relating to the amounts of revenue, income and loss by reportable segment（Million yen）
Reportable Segment

Amount Recorded on
Adjustments Consolidated Quarterly(Note 1)
Statements of Income(Note 2)

Brokerage

Singlefamily
Homes

AsakawaHome

Condo

Property
Resales

OthersTotal

966

30,209

7,348

1,054

21,366

103

61,049

953

－997

8－

15

1,975

（1,975）－Total1,919

30,209

8,346

1,063

21,366

11963,025（1,975）61,049Segment Income (Loss)

705

3,782

284

（171）

3,911

33

8,545

（36）

8,509

Revenue
Revenue from
Outside Customers
Intersegment
revenue and transfers－

61,049(Note)
１.

2.

Adjustment of -¥36 million for segment income includes intersegment elimination of ¥31 million and corporate
expenses of -¥67 million that is not distributed to the reportable segments. Corporate expenses are primarily generaland administrative expenses that do not belong to the reportable segments.
Segment income has been adjusted to operating income described in consolidated quarterly statements of income.
ⅱ Changes in reportable segments
Effective from the first quarter for the current fiscal year, the Company has changed reportable segments to ensure
appropriate disclosure of management information. The former Real Estate Sales Business is divided into four
reportable segments: Single-family Homes; Asakawa Home; Condominiums; Property Resales.
“Others” refers to business segments not included in reportable segments.
As a result, the Group now has the following six reporting segments: Brokerage, Single-Family Homes, Asakawa
Home, Condominiums, Property Resales, and Others.
Open House Co., Ltd. (3288)

7|