3Q Results for FY2022
Supplementary Materials

August 6 August February 8, 2023
Benesse Holdings, Inc.
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.

Forward-Looking Statements

This presentation contains forward-looking statements concerning the futureplans, strategies, beliefs and performance of Benesse Holdings, Inc. and its
subsidiaries. These forward-looking statements are not historical facts. They
are expectations, estimates, forecasts and projections based on information
currently available to the Company and are subject to a number of risks,
uncertainties and assumptions. As such, actual results may differ materiallyfrom those projected.

1Results by Segment (YoY)
Nine months ended December 31

Education Business in Japan
Kids & Family
Nursing Care and Childcare
Berlitz
OthersTotal Net Sales
Education Business in Japan
Kids & Family
Nursing Care and Childcare
Berlitz
Others/Reconciliations
Total Operating Income
Ordinary Income
Net Income(Millions of Yen)FY2021

FY2022

Change158,638

156,648(1,989)(1.3)

95,602

98,867+3,264+3.4

53,30420,074

51,637－(1,667)(20,074)

%

(3.1)
－

859
328,478

1,766
308,919+907(19,559)+105.6
(6.0)

4,042

2,309

(1,733)(42.9)－+2,792－

23,243

20,983(2,260)9,301

11,998+2,696

19,3526,531(2,792)(3,890)19,577

18,862
3,730(3,918)17,504(489)(2,801)(28)(2,073)(2.5)(42.9)－(9.7)(10.6)+29.0

Note: Berlitz Corporation was excluded from the reporting segments from the first quarter of the current fiscal year as a result of the share transfer of the company
on February 14,2022.

2Results : Analysis of Net Sales/Operating Income (YoY)(Billions of Yen)

Shinkenzemi

EducationBusinessin Japan

School & Teacher Support

Prep Schools &Classrooms

Net Sales

University & Working
Adult, Other

Kids & Family

KodomoChallenge

Decrease in cumulative enrollment / positive impact of the price revision, etc.
Decrease in number of students taking Shinken Simulated Exams.
Increase in orders for elementary and junior high school business, etc.
Decrese in number of students in Tokyo Individualized Educational Institute.
Increase in number of students in Tetsuryokukai, etc.

(6.2)
(0.2)

(0.1)

Increase in orders in support for study abroad, Udemy business, and developmental education, etc.

+4.6

Japan : decrease in cumulative enrollment / positive impact of the price revision and recovery of concert business, etc.

(0.2)

Overseas : decrease in cumulative enrollment dut to COVID-19 lockdown in China, etc.

(4.2)
+3.4

Forex rate impact
Tamahiyo business, etc.

(0.6)

Nursing Care and Childcare

Increase in new nursing homes, etc.

+3.2

Berlitz

No sales contribution from Berlitz as a result of the share transfer(20.0)

OthersNaoshima business, etc.

+0.9

Lifestyle

Shinkenzemi : lower sales.

Education Business in Japan

Decrease in marketing costs and elimination of impact of the product revision cost recorded in the previous year.

Operating Income

Higher sales in University & Working Adult, etc.
Lower sales in School & Teacher Support /Increase in cost in Prep Schools & Classrooms, etc.

(1.0)

+0.6

Japan : decrease in costs / lower sales, etc.

+0.2

Overseas : lower sales, etc.

(1.7)

Lower sales, etc.

(0.2)

Nursing Care and Childcare

Increase in utilities expenses and marketing costs to strengthen sales promotion, etc.

(2.8)

Berlitz

Elimination of operating loss as a result of the share transfer+2.7

Others/Reconciliations

DX Investment / higher sales in Naoshima, etc.

(0.0)

Kids & Family

KodomoChallenge
Lifestyle3

FY2022 Full-year Forecast
Forecast announced on November 9, 2022 has not been changed.
(Millions of Yen)FY2021Net Sales

FY2022(forecast)

Change%431,943

417,000(14,943)(3.5)

Operating Income

20,16721,500+1,333+6.6

Operating Income ratio（%）

4.7

5.2+0.5ーOrdinary Income

15,404

16,500+1,096+7.1

Net Income

1,064

11,500+10,436+980.6

4

EducationBusinessin Japan

Breakdown of Net Sales

Nine months ended December 31(Millions of Yen)FY2021

FY2022

Change%Ratio(%)

Senior High School

8,769

7,459

(1,310)(14.9)

4.8

Junior High School

21,991

19,308(2,683)(12.2)

12.3

Elementary School

48,381

46,079(2,302)

(4.8)

29.4

School & Teacher
Support

35,89535,692(203)

(0.6)

22.8

Prep Schools &Classrooms

31,73031,626(104)

(0.3)

20.2

University &Working Adult

10,261

14,615+4,353+42.4

9.3

Other

1,606

1,866

+259

+16.2

1.2

Total

158,638

156,648(1,989)

(1.3)

100.0

Note: We revised the method of aggregation for School & Teacher Support and Other, which are included in Education Business in Japanand mentioned figures for Prep Schools & Classrooms and University & Working Adult separately from the first quarter of the current
fiscal year. Along with these changes, figures for corresponding period of the previous fiscal year are based on new criteria.

5Kids & Family Breakdown of Net Sales

Nine months ended December 31(Millions of Yen)FY2021

FY2022

Change%Ratio(%)

Kodomo Challengein Japan (Preschool)

15,34014,835(505)

(3.3)

28.7

Overseas Kodomo
Challenge (Preschool)

21,37020,764(606)

(2.8)

40.2

Other *

16,592

16,037(555)

(3.3)

31.1

Total

53,304

51,637(1,667)

(3.1)

100.0

* ‘’Other‘’ includes Kodomo Challenge peripheral businesses such as concert business and Lifestyle-related businesses such as Tamahiyo business, etc.

6Education
Business in Japan
Kids & Family

Cumulative Enrollment for Shinkenzemi and Kodomo Challenge【Cumulative Enrollment for Shinkenzemi】
Nine months ended December 31(Thousands)

FY2021

FY2022

Change%Senior High School945

790(154)(16.3)

Junior High School

3,177

2,722(455)(14.3)

Elementary School

11,383

10,626

(757)

(6.7)

Total

15,506

14,139 (1,366)(8.8)

【Cumulative Enrollment for Kodomo Challenge (Preschool)】
FY2021

FY2022(Thousands)

Change%Kodomo Challenge in Japan (Preschool)

6,948

6,262(685)(9.9)

Overseas Kodomo Challenge (Preschool)

10,6698,899 (1,769)(16.6)

Total

17,617

15,162 (2,454)(13.9)•Note1: Cumulative enrollment represents the cumulative total number of people who receive materials monthly (from April to December).
•Note2: Overseas Kodomo Challenge represents total number of cumulative enrollment in China and Taiwan.
Cumulative enrollment for China represents the cumulative total number of people who receive materials monthly (from January to September),due to the differences of those closing dates ended December 31st. 7

Nursing Careand Childcare

Number of Nursing Homes and Elderly Houses
Dec. 2021Dec. 2022

Mar. 2022

Aria

2727

28

Clara

3939

38

153

154

159

Madoka57

57

57

Bon Sejour

49

49

51

Cocochi151515

Li-Re222

Total

342

343

350

Granny & Granda

8