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.

Summary(Translation)
February 13, 2023

TSUBURAYA FIELDS HOLDINGS INC.
Consolidated Financial Results for the Nine Months Ended December 31, 2022 (Under Japanese GAAP)
Company name:

TSUBURAYA FIELDS HOLDINGS INC.
(URL: https://www.tsuburaya-fields.co.jp/e/)
Tokyo Stock Exchange, Prime Market
2767
https://www.tsuburaya-fields.co.jp/e/Hidetoshi Yamamoto, President and Group CEO
Hideaki Hatanaka, Senior Corporate Officer+81-3-5784-2111

Listing:
Securities code:
URL:
Representative:
Inquiries:
Telephone:

Scheduled date to file quarterly securities report:
Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results briefing:

February 14, 2023
Yes
Yes (for analysts and institutional investors)(Yen amounts are rounded down to millions)

1. Consolidated financial results for the nine months ended December 31, 2022 (from April 1, 2022 to December 31, 2022)(1) Consolidated operating results (cumulative)(Percentages indicate YoY changes.)
Net sales

Operating profit

Nine months ended
December 31, 2022
December 31, 2021

Millions of yen

%
23.5
148.5

(Note) Comprehensive income

For the nine months ended December 31, 2022: ¥ 7,513 million [242.3%]
For the nine months ended December 31, 2021: ¥ 2,194 million [－%]

89,60772,531Millions of yen

9,476
2,366

Basic earnings
per share

Profit attributable toowners of parent

Ordinary profit

%
300.5
－

%
276.3
－

Millions of yen

9,749
2,590

%
215.9
－

Millions of yen

5,646
1,787

Diluted earnings
per share

Nine months ended
December 31, 2022

Yen

Yen

174.39172.91

December 31, 2021

55.29

55.16

(2) Consolidated financial position
Total assets
As ofDecember 31, 2022

Equity-to-asset ratio

Millions of yen

95,152

38,218%37.3

70,001

31,551

43.4

March 31, 2022
(Reference) Equity

Net assets

Millions of yen

As of December 31, 2022: ¥ 35,516 million
As of March 31, 2022: ¥ 30,372 million

2. Cash dividends
Annual dividends
Q1-endFiscal year ended
March 31, 2022
Fiscal year ending
March 31, 2023
Fiscal year ending
March 31, 2023 (Forecast)

Q2-endFiscalyear-end

Q3-end

Total

Yen

Yen

Yen

Yen

Yen

－

0.00

－

20.00

20.00

－

0.00

－
60.00

60.00

(Note) Revisions to the forecast of cash dividends most recently announced: Yes

3. Forecast of consolidated earnings for the fiscal year ending March 31, 2023 (April 1, 2022 to March 31, 2023)(Percentages indicate YoY changes.)

Net sales
Full-year

Operating profit

Millions of yen%

117,000

23.3

Millions of yen

Profit attributable toowners of parent

Ordinary profit% Millions of yen

10,800 213.5%

11,000 202.7(Note) Revisions to the performance forecasts most recently released: Yes

1

Millions of yen

Basic earnings
per share%

Yen

8,000 223.7

246.73

*Notes(1) Changes in significant subsidiaries during the period: Yes(transfer of specific subsidiaries that results in a change in the scope of consolidation)
New consolidation: one company (Company name) FIELDS CORPORATION(2) Application of accounting methods specific to the preparation of quarterly consolidated financial statements: Yes(3) 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 other than (3) (i): None(iii) Changes in accounting estimates: None(iv) Restatement: None
(4) Number of issued shares (common shares)
(i)

(ii)

(iii)

Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2022

34,700,000 shares

As of March 31, 2022

34,700,000 shares

Number of treasury shares at the end of the period
As of December 31, 2022

2,142,991 shares

As of March 31, 2022

2,368,300 shares

Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Nine months ended December 31,
2022

32,381,024 shares

Nine months ended December 31,
2022

32,331,700 shares* Quarterly financial results reports are exempt from quarterly review by certified public accountants or an audit corporation.
* Proper use of earnings forecasts, and other special matters
The earnings forecasts and other forward-looking statements herein are based on information currently available to the Company
and on certain assumptions deemed to be reasonable. Actual results, etc. may differ materially from the forecasts due to various
factors.
Please refer to 1. Qualitative information on the quarterly financial results (1) Analysis of operating results on page 2 and (2)Consolidated earnings forecasts on page 4.
(How to obtain supplementary materials on financial results)
The Company is planning to hold a financial briefing (online) for analysts and institutional investors on Tuesday, February 14,
2023. Materials used at that briefing will be posted on the Company’s website after the briefing as soon as possible.

Consolidated Financial Results for the Nine Months Ended December 31, 2022

Table of contents of attached document
1. Qualitative information on the quarterly financial resultsꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ 2(1) Analysis of operating results ................................................................................................................................2(2) Consolidated earnings forecasts ...........................................................................................................................4(3) Overview of financial position .............................................................................................................................6
2. Quarterly consolidated financial statements and important notes ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ 7(1) Quarterly consolidated balance sheets .................................................................................................................7(2) Quarterly consolidated statements of income and consolidated statements of comprehensive income................9(3) Quarterly consolidated statements of cash flows ............................................................................................... 11(4) Notes regarding the quarterly consolidated financial statements .......................................................................13(Notes regarding the operation of the company as a going concern) ................................................................... 13(Notes regarding occurrence of significant change in amount of shareholders’ equity) ...................................... 13(Application of the accounting method specific to quarterly consolidated financial statements) ........................ 13(Changes in accounting policies)......................................................................................................................... 13(Segment information) ...................................................................................................................................... 13(Business combinations) .................................................................................................................................... 141

Consolidated Financial Results for the Nine Months Ended December 31, 2022

1. Qualitative information on the quarterly financial results(1) Analysis of operating results
While the COVID-19 pandemic has been prolonged, restraints have been gradually relaxed, and economic activity has beennormalizing with the shift to “with corona” and daily living is returning.
As the inconvenient life is coming to an end, the way people spend their leisure time has been transformed, as exemplified
by the word “Stay home,” and the development of technology has supported this transformation. Leisure time is becoming
more important and of higher quality because people have gone through the pandemic, a period that forced people to endure.
In this business environment, in order to realize this philosophy, “The Greatest Leisure for All People”, the Group
integrated its group companies under the holding company TSUBURAYA FIELDS HOLDINGS INC., and shifted to a new
structure in October 2022. The Group businesses cover a broad demographic with Tsuburaya Productions Co., Ltd.
(hereinafter, “TPC”), at the core targeting a wide range of generations both domestically and overseas, with a focus onchildren and families, and FIELDS CORPORATION (hereinafter, “FIELDS”), targeting the adult generation. In addition, theholding company structure has enabled the Group to make flexible and agile decisions and implement management strategies.

The diversification of lifestyles such as “work-from-home” brought about by the COVID-19 pandemic is linked to thediversification of how people spend their leisure time, and this trend is expected to continue unabated.
We will continue to accurately grasp people's leisure needs, and looking ahead to the next 5 to 10 years, we will makesteady progress in providing the greatest leisure for all people.

The status of each business segment for the cumulative Q3 of the current fiscal year is as follows.
As a result of the transition to a holding company structure, from the Q3 of the current fiscal year, the Company haschanged its financial reporting from a single segment to two reportable segments: “Content and digital” and “PS.” In responseto this change, the figures relating to business results in the financial results summary have been unified to the figures in thefinancial accounting. Please refer to page 13 for more details.

Content and digital segment
TPC, which is responsible for the dynamic promotion of growth potential, expanded its product lineup during the Christmas
and Chinese New Year sales season by fully leveraging the effects of the expansion of its distribution network in the previous
quarter. As a result, sales of low-priced merchandise related to Ultraman grew rapidly, and licensing revenues from Chinagrew significantly.
On the other hand, in Japan, movie SHIN ULTRAMAN, which was released nationwide in May 2022 and became a record
hit, has a strong reputation for its feature, and has led to the acquisition of new fans such as women. However, the start of
exclusive distribution in Amazon Prime video in November 2022 has led to further expansion and retention of the fan base,including those who missed out on movie.
In addition, the number of visitors to the Ultra Hero’s EXPO 2023, which was held in conjunction with the winter holiday,
greatly exceeded last year, and sales of Ultraman goods were strong even during the holiday season.
[Table 1: Change in business revenues of TPC]

(Unit: Millions of yen)

Apr.-Dec. 2021

Apr.-Dec. 2022

(Previous Q1-Q3)(Current Q1-Q3)

YoY change

Domestic MD and license revenue

1,129

1,412

+25.0%

Overseas MD and license revenue

1,295

4,130

+218.9%

908

3,753

+313.0%Total MD and license revenue

2,425

5,542

+128.6%

Imaging business revenue

1,040

1,582

+52.2%

China

2

Consolidated Financial Results for the Nine Months Ended December 31, 2022

Digital Frontier Inc. posted consolidated results for the cumulative Q3 of the fiscal year under review of ¥3,183 million in net
sales (up 19.0% YoY) and ¥278 million in operating profit (up 89.6%YoY). This result reflects the continued strength in CG
video production, mainly by major domestic game companies, and VFX video production with Netflix.
Consequently, the business results of the content and digital business segment for the cumulative Q3 of the fiscal year underreview were net sales ¥10,665 million (up 63.5%YoY) and operating profit ¥3,805 million (up 211.8% YoY).

PS business segment
In PS business, the market has been shrinking for nearly a decade due to the tightening of regulations. However, as a resultof the development efforts of individual manufacturers and the management efforts of pachinko parlors, pachinko/pachislot(hereinafter, “PS”) machine in response to the new regulation introduced since last year have gradually gained acceptanceamong customers. Particularly in the pachislot market, regulation 6.5 machine gained broad support in the market. In addition,
smart pachislot (“smart slot”), which was introduced at the end of November, has been highly evaluated by users, as originally
anticipated.
Following this successful smart slot, the expectations of users and pachinko halls for smart pachinko (“smart pachi”), which
will be launched in the next fiscal year and beyond, are rising by the day, and we have begun to see positive signs of market
expansion. Pachinko industry finally has come out of the slump, and we are confident that it will bounce back full-scale fromnext fiscal year.
In the Q3 of the fiscal year under review, P Godzilla vs EVANGELION -G-cells awakening-, which was delivered in
December, created a buzz even before its introduction and recorded the largest unit sales in 2022. In addition, we increased
production of NEON GENESIS EVANGELION -Roar for tomorrow- in response to strong demand from customers andpachinko parlors. In addition to strong sales of private brands, the effects of cost reductions contributed to the businessperformance.
Consequently, the business results of PS business segment for the cumulative Q3 of the fiscal year under review were net
sales ¥77,619 million (up 20.6% YoY) and operating profit ¥6,062 million (up 477.0% YoY).

Other business segment
Other business performed strongly, resulting in net sales of ¥1,721 million and operating profit of ¥56 million for the
cumulative Q3 of the fiscal year under review.

As a result of the business activities described above, the consolidated results for the cumulative Q3 under review were net
sales ¥89,607 million (up 23.5% YoY), operating profit ¥9,476 million (up 300.5% YoY), ordinary profit ¥9,749 million (up276.3% YoY), and profit attributable to owners of parent ¥5,646 million (up 215.9% YoY).

3

Consolidated Financial Results for the Nine Months Ended December 31, 2022

(2) Consolidated earnings forecasts
The consolidated earnings forecast for the fiscal year ending March 31, 2023 has been revised as follows.
[Table 2: Forecast of consolidated financial results for the FY2022](Unit: Millions of yen)

FY2022 forecast
Revisedforecast

Previous
forecast(Announced on(Announced on

February 13)

October 24)

FY2021

Percentage

YoY changechangeNet sales

117,000

105,000

11.4%

23.3%

94,900Operating profit

10,800

6,000

80.0%

213.5%

3,444

Ordinary profit

11,000

6,000

83.3%

202.7%

3,634

Profit attributable to owners of parent

8,000

4,000

100.0%

223.7%

2,471

Operating profit forecasts for the year ending March 31, 2023 by business segment are as follows.
[Table 3: Forecast of operating profit by business segment](Unit: Millions of yen)
FY2022 forecast

Revisedforecast

Previous
forecast(Announced on(Announced on

February 13)

October 24)

FY2021

Percentage

YoY changechangeContent and digital segment

4,100

3,000

36.7%

179.8%

1,465

PS business segment

7,600

3,900

94.9%

334.1%

1,750

70

70

-

(24.0)%

92

(970)

(970)

-

-

136

Other
Adjusted amount* In the forecast for the fiscal year ending March 2023, a portion of the expenses of PS business is separately accounted for
as “Adjusted amount” in accordance with the change to a holding company.
In Table 3, from the viewpoint of comparability, the figures in the previous forecast have been adjusted based on the same
standard for simplicity.
Content and digital segment
TPC has been implementing measures for more than 10 years to expand the exposure and recognition of its Ultraman titlesin the Chinese market in order to promote Ultraman brand. As a result, TPC was able to create a virtuous circle in which the
expansion of fans led to the expansion of licensees, which led to the growth of our business in China in the fiscal year ending
March 2023. In particular, in July 2022, Ultraman area opened in Shanghai’s Ocean Park, which boasts more than five million
visitors a year, becoming popular, spurring further penetration of Ultraman brand. As a result of the expansion of sales
channels on the back of this momentum, royalty income from China grew significantly in the Q3, as mentioned above.
In Japan, in addition to the expansion of the fan base through the movie SHIN ULTRAMAN, the movie Ultraman Decker
Finale: Journey to Beyond, cinematized version of the TV series, will premiere from February 23, 2023, and sales of related
goods are expected.
With regard to the expansion of our Ultraman brands into other regions, we have positioned Southeast Asia, centered on
ASEAN, which has a large population and already gained a certain level of recognition, as our most important region. We will
also focus on localization, such as by becoming familiar with the cultures and characteristics of the region and collaboratingwith trustworthy local companies. In North America as well, we will implement more specific initiatives to raise awareness of
Ultraman brand.

PS business segment
In response to the new regulations, FIELDS have been working on the development of machines with excellent gameplay. In
4Consolidated Financial Results for the Nine Months Ended December 31, 2022

addition to NEON GENESIS EVANGELION -Roar for tomorrow- sold from FY2021, our first private brand title and regulation
6.5 machine, PACHISLOT INUYASHA was highly rated by the market, leaving a demand for increased production. In the Q3
cumulatively, the results greatly exceeded the expected results.
In the fiscal year ending March 31, 2023, we plan to sell seven pachinko titles and six pachislot titles for the full year. Oneof the pachislot titles initially planned for sale in the Q4 will be sold strategically in the next fiscal year based on the trends ofother companies.
From the next fiscal year onward, expectations for smart pachi are rising in the marketplace, and we expect the arrival of the“smart pachi and slot” era. On the other hand, we assume that there is also a need for non-smart pachi and slot from theperspective of the supply format, including units. We aim to accurately grasp the needs of the market and create a well-balanced
merchandise lineup that meets the needs of customers and pachinko parlors.

(Note 1) All figures in this report are based on our estimates.
(Note 2) Product names in this report are trademarks or registered trademarks of each company.

5Consolidated Financial Results for the Nine Months Ended December 31, 2022

(3) Overview of financial position(Assets)
Current assets increased by ¥23,197 million from the end of the previous fiscal year to ¥79,896 million. This was mainly due
to an increase in trade receivables.
Property, plant and equipment increased by ¥216 million from the end of the previous fiscal year to ¥4,754 million. This was
mainly due to an increase in construction in progress.
Intangible assets increased by ¥152 million from the end of the previous fiscal year to ¥2,634 million. This was mainly due
to an increase in goodwill.
Investments and other assets increased by ¥1,584 million from the end of the previous fiscal year to ¥7,867 million. This was
mainly due to an increase in investment securities.
Consequently, assets increased by ¥25,151 million from the end of the previous fiscal year to ¥95,152 million.
(Liabilities)
Current liabilities increased by ¥20,100 million from the end of the previous fiscal year to ¥47,965 million. This was mainly
due to an increase in trade payables.
Non-current liabilities decreased by ¥1,615 million from the end of the previous fiscal year to ¥8,969 million. This was mainly
due to a decrease in long-term borrowings.
Consequently, liabilities increased by ¥18,484 million from the end of the previous fiscal year to ¥56,934 million.
(Net assets)
Net assets increased by ¥6,666 million from the end of the previous fiscal year to ¥38,218 million. This was mainly due to anincrease in retained earnings.
(Analysis of cash flows)
Cash and cash equivalents (hereinafter referred to as “cash”) at the end of the third quarter of the current fiscal year decreasedby ¥6,288 million from the end of the previous fiscal year to ¥26,015 million.
(Cash flows from operating activities)
Net cash provided by operating activities was ¥1,068 million, compared with net cash provided by operating activities of¥4,176 million in the same period of the previous fiscal year. This was mainly attributable to quarterly profit before income
taxes of ¥9,738 million, an increase in trade receivables of ¥23,934 million, an increase in trade payables of ¥20,072 million,
and an increase in accounts receivable - other of ¥4,734 million.
(Cash flows from investing activities)
Net cash used in investing activities was ¥3,050 million, compared with net cash used of ¥1,218 million in the same periodof the previous fiscal year. This was mainly due to purchase of investment securities of ¥1,167 million, purchase of non-current
assets of ¥843 million, and payments for investments in capital of ¥764 million.
(Cash flows from financing activities)
Net cash used in financing activities was ¥4,306 million, compared with net cash used of ¥2,083 million in the same periodof the previous fiscal year. This was mainly due to repayments of long-term borrowings of ¥3,762 million and dividends paidof ¥645 million.

6

Consolidated Financial Results for the Nine Months Ended December 31, 2022

2. Quarterly consolidated financial statements and important notes(1) Quarterly consolidated balance sheets

Previous consolidated
fiscal year
(as of March 31, 2022)
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract assets
Electronically recorded monetary claims - operating
Merchandise and finished goods
Work in process
Raw materials and supplies
Merchandise rights
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Land
Other
Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable - trade(Unit: Millions of yen)Q3 of current consolidated
fiscal year
(as of December 31, 2022)

32,404
12,690
708
388
2,874
1,831
3,207
2,615
(23)

26,11535,542
1,837
316
3,388
2,128
2,349
8,240
(22)

56,69879,896

1,922
2,615

1,929
2,825

4,538

4,754

1,623
859

1,748
885

2,482

2,634

1,429
215
4,965
(328)

2,912
233
4,998
(276)

6,282

7,867

13,303

15,25670,001

95,152

13,12833,106

Short-term borrowings
Current portion of long-term borrowings
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and other officers)
Other

1,202
5,030
608
291
46
7,556

1,549
3,397
1,753
155
8,002

Total current liabilities

27,86447,965

Non-current liabilities
Long-term borrowings
Retirement benefit liability
Asset retirement obligations
Other

6,530
809
800
2,444

4,680
915
811
2,561

Total non-current liabilities

10,584

8,969

38,44956,934

Total liabilities

7

Consolidated Financial Results for the Nine Months Ended December 31, 2022

(Unit: Millions of yen)Q3 of current consolidated
fiscal year
(as of December 31, 2022)

Previous consolidated
fiscal year
(as of March 31, 2022)
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity

7,948
7,576
16,771(1,946)

7,948
7,356
21,771(1,761)

30,34935,314

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans

18
1
3

198
1
1

Total accumulated other comprehensive income

23

201

Share acquisition rights
Non-controlling interests

28
1,150

29
2,672

Total net assets

31,551

38,21870,001

95,152

Total liabilities and net assets

8Consolidated Financial Results for the Nine Months Ended December 31, 2022

(2) Quarterly consolidated statements of income and consolidated statements of comprehensive income
Quarterly consolidated statements of income
Nine months ended December 31, 2022
Nine months
ended December 31, 2021

(Unit: Millions of yen)
Nine months
ended December 31, 2022

(April 1, 2021 to December 31, 2021)(April 1, 2022 to December 31, 2022)

Net sales
Cost of sales

72,531
61,15589,60770,508Gross profit

11,37519,099Selling, general and administrative expenses

9,009

9,622

Operating profit (loss)

2,366

9,476

2
1
154
42
20
91

2
5
129
90
15
128

312

372

61
17
9

62
6
32

87

100

2,590

9,749

0
231
121
1

1
-

356

1

20
18
43

4
7
-

Non-operating income
Interest income
Dividend income
Purchase discounts
Share of profit of entities accounted for using equity method
Share of profits on investments in capital
Other
Total non-operating income
Non-operating expenses
Interest expenses
Provision of allowance for doubtful accounts
Other
Total non-operating expenses
Ordinary profit (loss)
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Gain on sale of shares of subsidiaries and associates
Other
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Loss on sale of membership
Loss on litigation
Losses from coronavirus disease (COVID-19)
Other

1

0

Total extraordinary losses

84

11

Profit (loss) before income taxes

2,863

9,738

Income taxes

585

2,401

Profit (loss)

2,277

7,336

489

1,689

1,787

5,646

Profit (loss) attributable to non-controlling interests
Profit (loss) attributable to owners of parent

9Consolidated Financial Results for the Nine Months Ended December 31, 2022

Quarterly consolidated statements of comprehensive income
Nine months ended December 31, 2022
Nine months
ended December 31, 2021

(Unit: Millions of yen)
Nine months
ended December 31, 2022

(April 1, 2021 to December 31, 2021)(April 1, 2022 to December 31, 2022)

2,277

7,336

(77)
0
(6)

179
(0)
(2)

(82)

176

Comprehensive income

2,194

7,513

Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests

1,703
491

5,825
1,687

Profit (loss)
Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total other comprehensive income

10Consolidated Financial Results for the Nine Months Ended December 31, 2022

(3) Quarterly consolidated statements of cash flows(Unit: Millions of yen)
Nine months
ended December 31, 2022

Nine months
ended December 31, 2021
(April 1, 2021 to December 31, 2021)(April 1, 2022 to December 31, 2022)

2,863
526
189
18
(151)
(4)
32
(4)

9,738
564
189
(53)
(136)
(46)
22
(7)

(42)

(90)

61
(20,450)884(2,723)
22,333(179)

62(23,934)
120(4,734)20,072
(561)

402

544

189
536

550
5

Subtotal

4,481

2,306

Interest and dividends received
Interest paid
Income taxes refund (paid)

4
(61)
(247)

7
(62)
(1,183)

Net cash provided by (used in) operating activities

4,176

1,068

Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Proceeds from redemption of securities
Purchase of investment securities
Proceeds from sale of investment securities
Purchase of shares of subsidiaries and associates
Proceeds from sale of shares of subsidiaries and associates

(719)
0
(191)
109
(65)
488
(10)
319

(657)
4
(185)
(1,167)
45-

Payments for investments in capital
Loan advances
Proceeds from collection of loans receivable
Proceeds from purchase of shares of subsidiaries
resulting in change in scope of consolidation
Other, net(1,199)
(0)
34

(764)
(333)
16

-

3

16

(12)

Net cash provided by (used in) investing activities(1,218)(3,050)Cash flows from operating activities
Profit (loss) before income taxes
Depreciation
Amortization of goodwill
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for bonuses for directors (and other officers)
Increase (decrease) in retirement benefit liability
Interest and dividend income
Share of loss (profit) of entities accounted for using
equity method
Interest expenses
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Decrease (increase) in accounts receivable - other
Increase (decrease) in trade payables
Increase (decrease) in liabilities related to payable transactions
Increase/decrease in consumption taxes
payable/consumption taxes refund receivable
Depreciation of investments in capital
Other, net

11Consolidated Financial Results for the Nine Months Ended December 31, 2022

(Unit: Millions of yen)
Nine months
ended December 31, 2022

Nine months
ended December 31, 2021
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Proceeds from exercise of employee share options
Purchase of treasury shares
Dividends paid
Purchase of shares of subsidiaries not resulting in change
in scope of consolidation
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Increase in cash and cash equivalents resulting from
inclusion of subsidiaries in consolidation
Cash and cash equivalents at end of period

12(April 1, 2021 to December 31, 2021)(April 1, 2022 to December 31, 2022)

1,210
200
(3,150)(322)

349(3,762)
82
(0)
(645)

-

(306)

(21)

(23)

(2,083)(4,306)

0

(0)

875

(6,288)24,51032,30414-

25,40026,015

Consolidated Financial Results for the Nine Months Ended December 31, 2022

(4) Notes regarding the quarterly consolidated financial statements(Notes regarding the operation of the company as a going concern)
Not applicable.
(Notes regarding occurrence of significant change in amount of shareholders’ equity)
Not applicable.
(Application of the accounting method specific to quarterly consolidated financial statements)
Calculation of tax expenses
Tax expenses are calculated by reasonably estimating the effective tax rate after the application of tax effect accounting to
profit before income taxes for the consolidated fiscal year including the Q3 under review, and multiplying profit before income
taxes by this estimated effective tax rate.
(Changes in accounting policies)
The Company has applied the “Implementation Guidance on Accounting Standard for Fair Value Measurement” (ASBJ
Guidance No. 31, June 17, 2021) from the beginning of the Q1 of the current fiscal year and will apply the new accounting policy
stipulated by the Implementation Guidance on Accounting Standard for Fair Value Measurement in accordance with thetransitional treatment stipulated in paragraph 27-2 of the Implementation Guidance on Accounting Standard for Fair Value
Measurement in the future. There is no impact on the quarterly consolidated financial statements.

(Segment information)[Segment information]
1.

Information on net sales and profit (loss) by reportable segment
Cumulative Q3 of the previous fiscal year (from April 1, 2021 to December 31, 2021)

Reportable segments
Content andPS businessdigital business

Total

Other
(NOTE1)

Total(Unit: millions of yen)
Quarterly
consolidated
Adjustedstatement ofamountincome(NOTE2)amount recorded(NOTE3)

Net sales
Net sales to externalcustomers
Intersegment net sales ortransfers

6,357

64,35670,714

1,817

72,531―

72,531

165

―

165

0

166

(166)

―

Total

6,522

64,35670,8791,818

72,697(166)

72,531

1,220

1,050

2,271

102

2,373

(7)

2,366

Segment profit(NOTE)1. “Other” is a business segment that is not included in reportable segments and includes fitness business, etc.
2. Adjusted amount of ¥(7) million in segment profit includes elimination of intersegment transactions of ¥(7) million.
3. Segment profit is adjusted with the operating profit of the quarterly consolidated statement of profit.

13

Consolidated Financial Results for the Nine Months Ended December 31, 2022

Cumulative Q3 of the current fiscal year (from April 1, 2022 to December 31, 2022)
Reportable segments
Content andPS businessdigital business

Total

Other
(NOTE1)

Total(Unit: millions of yen)
Quarterly
consolidated
Adjustedstatement ofamountincome(NOTE2)amount recorded(NOTE3)

Net sales
Net sales to externalcustomers
Intersegment net sales ortransfers

10,27877,61687,895

1,712

89,607―89,607

386

2

389

8

397

(397)

―

Total

10,66577,61988,284

1,721

90,005(397)

89,607

3,805

6,062

9,868

56

9,925

(448)

9,476

Segment profit(NOTE)1. “Other” is a business segment that is not included in reportable segments and includes fitness business, etc.
2. Adjusted amount of ¥(448) million in segment profit includes elimination of intersegment transactions of ¥(58) million and corporate expenses of ¥(389)
million that are not allocated to individual reportable segments.
3. Segment profit is adjusted with the operating profit of the quarterly consolidated statement of profit.

2.

Changes in reportable segments
As a result of the transition to a holding company structure implemented on October 3, 2022, from the third quarterof the current fiscal year, we have changed from a single segment to two reportable segments: content and digital andPS.
Segment information for the third quarter of the previous fiscal year has been prepared based on the classification ofreportable segments for the third quarter of the fiscal year under review.

(Business combinations)(Transactions under common control)
Transition to a holding company structure through an incorporation-type company split
Based on the resolution of director meeting held on May 18, 2022 and the 34th annual general meeting of shareholders heldon June 22, 2022, we implemented an incorporation-type company split with an effective date of October 3, 2022.
Accordingly, our corporate name was changed to “TSUBURAYA FIELDS HOLDINGS INC.” on the same date.
(1) Summary of transactions
I.

Name of the subject business and the content of the business
Name and description of business: PS machine planning/development/sales business (including ancillarybusiness)II.

Date of business combination
October 3, 2022

III.

Statutory form of business combination
New incorporation-type company split in which we became a spin-off company and the newly established“FIELDS CORPORATION” as a successor company

IV.

Name following business combination
FIELDS CORPORATION (our consolidated affiliate)V.

Summary of other transactions
In October 2022, we integrated our group companies under the holding company TSUBURAYA FIELDSHOLDINGS INC. and shifted to a new structure to realize our corporate philosophy of The Greatest Leisure
for All People.
14

Consolidated Financial Results for the Nine Months Ended December 31, 2022

In an environment where the value of IP is expected to increase further in the future, under the holding
company structure, we have revised the single segment centered on Intellectual Property (IP) and establisheda business structure with two core business segments: the content and digital business segment, which is
responsible for the dynamic promotion of growth potential, and PS business segment, which is responsible
for profitability.
The establishment of a holding company structure has also made it possible for the group to implement
flexible decision-making and management strategies. The holding company plays mainly the following roles.
i. Strategic investments and business alliances

We will strategically invest in businesses such as digital businesses and create and nurture globally competitive
IP. The holding company is also responsible for promoting business alliances and capital tie-ups with companies
that seek to generate synergies.
ii. Maximization of the group’s corporate value

The holding company will formulate and promote aggressive and innovative management strategies, andsupport each operating company under these strategies to encourage the creation and expansion of groupsynergies. Through these efforts, we will strive to maximize the group’s corporate value.
(2) Accounting method

The transaction is accounted for as a transaction under common control in accordance with the “Accounting Standard
for Business Combinations” (ASBJ Statement No. 21, January 16, 2019), “Accounting Standard for Business
Divestitures”(ASBJ Statement No. 7, September 13, 2013) and “Implementation Guidance on Accounting Standard forBusiness Combinations and Accounting Standard for Business Divestitures” (ASBJ Guidance No. 10, January 16, 2019).

15