Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy
between this translated document and the Japanese original, the original shall prevail.

May 12, 2023

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2023
(Under Japanese GAAP)
Company name:
Listing:
Securities code:
URL:
Representative:
Inquiries:

Benesse Holdings,Inc.
Prime Market9783
https://www.benesse-hd.co.jp/en/
Hitoshi Kobayashi, Representative Director and President, CEO
Shinsuke Tsuboi, Managing Executive Officer, CFO, Executive General Manager of Financeand Accounting
Telephone:+81-42-357-3656
Scheduled date of annual general meeting of shareholders:June 24, 2023
Scheduled date to commence dividend payments:
June 26, 2023
Scheduled date to file annual securities report:
June 26, 2023
Preparation of supplementary material on financial results:
Yes
Holding of financial results briefing:
Yes (for institutional investors and analysts)(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the fiscal year ended March 31, 2023 (from April 1, 2022 to March 31,2023)(1) Consolidated operating results(Percentages indicate year-on-year changes.)

Net sales
Fiscal year ended

Operating income

Net income attributableto owners of the parent

Ordinary income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%March 31, 2023

411,876(4.6)

20,6202.2

15,896

3.2

11,353966.8

March 31, 2022

431,943

1.0

20,16754.1

15,404

66.3

1,064

(65.9)

Note: Comprehensive income

For the fiscal year ended March 31, 2023:
For the fiscal year ended March 31, 2022:

Basic earnings
per shareDiluted earnings
per share¥ 10,907 million¥ 8,772 million[24.3 %]
[41.5 %]

Ratio of ordinary
income to total
assetsReturn on equity

Ratio of operating
income to net sales

Fiscal year ended

Yen

Yen%%%March 31, 2023

117.73

－

7.5

2.9

5.0

March 31, 2022

11.04

－

0.7

2.8

4.7

Reference:

Share of income (loss) of entities accounted for using equity method
For the fiscal year ended March 31, 2023:¥336 million
For the fiscal year ended March 31, 2022:¥112 million(2) Consolidated financial positionTotal assets
As ofNet assets

Equity-to-asset ratio

Net assets per share

Millions of yen

March 31, 2023

541,560

161,25428.5

1,600.00

March 31, 2022

540,598

156,16327.6

1,548.22

Reference:

EquityAs of March 31, 2023:
As of March 31, 2022:¥ 154,305 million¥ 149,266 million%Yen

Millions of yen

(3) Consolidated cash flows
Cash flows fromoperating activities
Fiscal year ended

Cash flows frominvesting activities

Cash and cash
equivalents at end ofperiod

Cash flows fromfinancing activities

Millions of yen

Millions of yen

Millions of yen

Millions of yen

March 31, 2023

22,144(18,971)(14,617)

103,547

March 31, 2022

24,465(47,359)(9,127)

114,235

2. Cash dividends
Annual dividends per shareFirstSecond
Third
quarter-end quarter-end quarter-end
Fiscal year ended

March 31, 2022
Fiscal year ended

March 31, 2023

Fiscalyear-end

Total cash
dividends(Total)

Total

Yen

Yen

Yen

Yen－25.00

－

25.00

50.00

－

30.00

－

30.00

60.00

－

30.00

－

30.00

60.00

Ratio of
Payout ratio dividends to(Consolidated) net assets(Consolidated)

Yen Millions of yen%%4,820

452.9

3.2

5,786

51.0

3.8

Fiscal year ending

March 31, 2024

50.3

(Forecast)

3. Forecast of consolidated financial results for the year ending March 31, 2024
March 31, 2024)
Net sales
Millions ofyen
Fiscal year ended

March 31, 2024

423,000%
2.7

Operating income

Ordinary income

Millions ofyen

Millions ofyen

21,500%4.3

16,000(from April 1, 2023 toNet income
attributable toowners of parent%

0.7

Millions ofyen
11,500Net income
Per share%

Yen

1.3

119.24

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change
in scope of consolidation): None
(2) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: Yes(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
(3) Number of issued shares (common shares)(i)

Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2023

102,604,773 shares

As of March 31, 2022

102,571,215 shares(ii) Number of treasury shares at the end of the period
As of March 31, 2023

6,163,618 shares

As of March 31, 2022

6,160,099 shares(iii) Average number of shares outstanding during the period
Fiscal year ended March 31, 2023

96,430,255 sharesFiscal year ended March 31, 2022

96,401,301 shares[Reference] Overview of non-consolidated financial results
1. Non-consolidated financial results for the fiscal year ended March 31, 2023 (from April 1, 2022 toMarch 31, 2023)(1) Non-consolidated operating results(Percentages indicate year-on-year changes.)

Net sales
Fiscal year ended

Operating income

Ordinary income

Net income

Millions of yen%

Millions of yen%

Millions of yen%March 31, 2023

17,97623.8

10,47854.1

11,443

March 31, 2022

14,520

13.3

6,797

20.1

7,814

Basic earnings
per share
Fiscal year ended

Millions of yen%

46.4

12,907－31.7(27,289)－

Diluted earnings
per share
YenYenMarch 31, 2023

133.85－

March 31, 2022

(283.08)－(2) Non-consolidated financial position
Total assets
As ofNet assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen

March 31, 2023

168,865

118,91570.4

1,232.76

March 31, 2022

171,658

112,660

65.6

1,167.44

Reference:

EquityAs of March 31, 2023:
As of March 31, 2022:%

Yen¥118,888 million¥112,554 million* Financial results reports are exempt from audit conducted by certified public accountants or an audit
corporation.
* Proper use of earnings forecasts, and other special matters
This report’s performance forecasts are based on information available at present, and certain premises arethought to be reasonable. Accordingly, the results may change substantially due to various factors.