Financial Results for the Second Quarter of the Fiscal Year Ending March 31, 2019
[Japanese GAAP] (Consolidated)
Name of Listed Company:
UCHIYAMA HOLDINGS INC.
Code Number: 6059
URL: http://www.uchiyama-gr.jp
Representative: Fumiharu Uchiyama, President and Representative Director
Contact Point: Takehiro Yamamoto, Senior Managing Director and Manager of Business Planning Office
Phone: (093) 551-0002
Scheduled Date of Dividend Payment Start:
December 4, 2018
Scheduled Date of Financial Statements Filing:
November 14, 2018
Supplementary materials for Financial Results: Yes
Investor conference for Financial Results: Yes (For institutional investors and security analysts)

November 13, 2018
Stock Listing: TSE(Amounts are rounded down to the nearest one million yen)

1. Consolidated Financial Results for the Second Quarter of the Fiscal Year Ending March 31, 2019 (April 1, 2018 – September 30, 2018)(% of change from previous year)(1) Consolidated Financial Results
Profit attributable to
Net sales
Operating income
Ordinary income
owners of parent
Millions of yen

FY 2019 2Q
FY 2018 2Q(Note) Comprehensive income%%

Millions of yen%

13,421
2.4
497(13.8)
615(8.1)
13,100
7.9
576
166.8
669
91.3
FY 2019 2Q: ¥461 million (2.8 %) FY 2018 2Q: ¥448 million (120.8 %)

452
442

2.1
111.4

Net income
per share
FY 2019 2Q
FY 2018 2Q

Millions of yen

Millions of yen

Diluted net income per
share
Yen

Yen

23.40
22.91

－
－

(2) Consolidated Financial Position
Total assets

Net assets

Millions of yen

FY 2019 2Q
FY 2018(Reference) Equity capital:%

Equity ratio

Millions of yen

30,14829,986
FY 2019 2Q: ¥15,761 million%

15,761
52.3
15,39751.3
FY 2018: ¥15,397 million

2. Dividends
End of the 1Q

Dividends per share
End of the 3Q

End of the 2Q

Yen

FY 2018－
FY 2019－
FY 2019 (forecast)(Note) Changes from the latest dividend forecast: None

Year-end

Annual

Yen

Yen

Yen

Yen

5.00
5.00

－

5.00

10.00

－

5.00

10.00

3. Forecasts of Consolidated Financial Results for the Fiscal Year Ending March 31, 2019 (April 1, 2018 – March 31, 2019)(% of change from previous year for full year)

Net sales

Profit attributable toowners of parent

Operating income

Ordinary income

Millions of yen%

Millions of yen%

Full year
27,7815.2
1,318(Note) Changes from the latest financial forecast: None

10.6

1,371

1.4

Millions of yen%

Millions of yen

881

Net income
per share

%

Yen

9.1

45.62

*Notes(1) Changes in significant subsidiaries (changes of specified subsidiaries resulting in changes in scope of consolidation) during
the current term: None
(2) Application of the accounting procedures for producing quarterly consolidated financial statements: None
(3) Changes in accounting policies, accounting estimates and restatements:
1) Changes in accounting policies due to revisions of accounting standards:
2) Changes in accounting policies due to reasons other than above 1):3) Changes in accounting estimates:
4) Restatements:(4) Number of outstanding shares (common stock)1) Number of outstanding shares (including treasury
stock) at end of term2) Number of treasury stock at end of term3) Average number of shares

None
None
None
None

FY 2019 2Q

21,618,800 shares

FY 2018

21,618,800 shares

FY 2019 2Q

2,287,777 shares

FY 2018

2,287,776 shares

FY 2019 2Q

19,331,024 shares

FY 2018 2Q

19,331,024 shares*Summary of financial results is out of scope of quarterly review by certified public accountant or audit corporation.
*Statement regarding the proper use of financial forecasts and other remarks
 Descriptions regarding the future, including the financial projections contained in this report, are based on certain
assumptions currently available to the Company, which are, at the discretion of the Company, deemed reasonable. Actual
financial results may significantly vary due to various factors. For assumptions used in forecasting financial results andprecautions in using the financial projections, please refer to “Analysis Concerning Future Forecasts Including
Consolidated Financial Projections” on page 3 of the Appendix.
 The Company plans to hold a session for briefing financial results for institutional investors and security analysts on Nov.
21, 2018. The details and explained contents (voice) at the session will be included in the website of the Company
immediately after the session, together with the reference materials used for briefing on that day.

○Table of contents of the appendix

1. Analysis Concerning Results of Operations and Financial Condition .......................................................................................... 2(1) Analysis Concerning Results of Operations ............................................................................................................................ 2(2) Analysis Concerning Financial Situation ................................................................................................................................ 3(3) Analysis Concerning Future Forecasts Including Consolidated Financial Projections ........................................................... 4
2. Consolidated Financial Statements ............................................................................................................................................... 5(1) Consolidated Balance Sheets .................................................................................................................................................. 5(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income .............................................. 7(3) Consolidated Statements of Cash Flows ................................................................................................................................. 9(4) Notes Regarding Consolidated Financial Statements ............................................................................................................. 11(Notes regarding premise of a going concern) ......................................................................................................................... 11(Notes on significant changes in the amount of shareholders’ equity) ..................................................................................... 11(Additional information) ......................................................................................................................................................... 11(Segment information, etc.) .....................................................................................................................................................121

1. Analysis Concerning Results of Operations and Financial Condition(1) Analysis Concerning Results of Operations
In the second quarter of this consolidated term, the Japanese economy saw a gentle recovery trend, thanks to theimprovements in corporate earnings, employment environment, etc., but there are uncertain factors such as concerns about
escalating trade friction and risks for natural disasters, including earthquake and typhoon, and so the future outlook remains
unclear.
Amid this business environment, our corporate group has carried out sales activities, etc. actively based on our businessstrategies in each segment. In addition, we made efforts to improve the added values of our services, by planning andimplementing various measures for boosting synergetic effects among Nursing Care, Karaoke, and Restaurant Businesses.
As for expenditures, we streamlined our business administration by reducing costs, to stabilize our business performance.
As a result, sales of the second quarter of the current consolidated fiscal year were 13,421,284 thousand yen (up 2.4% Yearon-Year (YoY)), operating income was 497,014 thousand yen (down 13.8% YoY), ordinary income was 615,333 thousandyen (down 8.1% YoY), and profit attributable to owners of parent was 452,331 thousand yen (up 2.1% YoY).
The results of each segment were as follows.
a. Nursing Care Business
For the Nursing Care Business segment, we opened the paid nursing home with nursing care services “Sawayaka Okazakikan (Okazaki City, Aichi Prefecture)” and the day-care facilities in a project for supporting disabled children in commuting tofacilities after school, etc. “Sawayaka Ai-no-ie Okazaki-kan” and “Sawayaka Ai-no-ie Shimonoseki-kan (Shimonoseki City,
Yamaguchi Prefecture)” in May. We also opened the paid nursing homes with nursing care services “Sawayaka Sakurasanbankan (Akita City, Akita Prefecture)” and “Sawayaka Himeji-kan (Himeji City, Hyogo Prefecture)” as well as the day-carefacility in a project for supporting disabled children in commuting to facilities after school, etc. “Sawayaka Ai-no-ie Sakurakan” in June. As a result, the number of sales footholds as of the end of the second quarter is 99 (176 offices). At existing
facilities, we aimed to stabilize occupancy ratio and reduce the number of vacant rooms by promoting the cementing ofcooperation with nearby hospitals and home care support offices by visiting them. Consequently, the average occupancy ratioof existing facilities in the second quarter of this consolidated term was 96.4% (93.4% in the same term last year).
As a result, sales were 8,809,339 thousand yen (up 11.8% YoY) and segment income was 693,910 thousand yen (up 4.5%
YoY).
b. Karaoke Business
For the Karaoke Business segment, we strived to attract more customers by distributing coupons, etc. via SNS, but there isa drop-off in customers because of 2018 FIFA World Cup Russia, which started on June 14 and garnered much attention, andthe effects of natural disaster including the July 2018 Heavy Rainfall in July and the typhoons that landed one after another,etc. As a result, sales were 3,603,390 thousand yen (down 4.6% YoY) and segment income was 367,682 thousand yen (up0.5% YoY). In the second quarter of the current consolidated fiscal year, we closed two stores without opening any new stores.
Accordingly, the number of stores is 90 as of the end of this quarter (94 as of the end of same quarter in the previous year).
c. Restaurant Business
For the Restaurant Business segment, one existing store changed its business type and one store in Japan and one store in
Thailand are closed. Accordingly, the number of stores as of the end of this second quarter is 19 inside Japan, and 2 outside
Japan. As for sales activities, the number of customers declined due to the FIFA World Cup and natural disasters like the
Karaoke Business. As a result, sales were 792,099 thousand yen (down 9.0% YoY) and segment income was 19,336 thousandyen (segment loss was 8,767 thousand yen during the same term last year).
d. Real Estate Business
For the Real Estate Business segment, our corporate group’s core businesses activities are sales/purchase of real estate2

properties for sale and intermediary work for rental properties. As a result, sales were 107,945 thousand yen (down 75.9%
YoY) and segment income was 19,424 thousand yen (down 79.2% YoY).
e. Other businesses
In the Other businesses segment, we strived to increase hotel guests by utilizing the advertisement media, with the aim of
meeting the demand as domestic travels increased due to the yen depreciation, in the hotel business. However, the number ofcustomers declined due to the effects of natural disasters like the Karaoke Business and Restaurant Business. As a result, sales
were 108,508 thousand yen (down 14.0% YoY) and segment loss was 25,085 thousand yen (segment loss was 18,372 thousand
yen during the same term last year).

(2) Analysis Concerning Financial Situation
1) Status of assets, liabilities and net assets
Total assets as of the end of the second quarter of this consolidated fiscal year came to 30,148,635 thousand yen, up
162,327 thousand yen from the end of the previous consolidated fiscal year.
Current assets came to 12,826,870 thousand yen, down 382,040 thousand yen from the end of the previous consolidated
fiscal year. This is mainly because cash and deposit decreased and real estate for sale increased. Noncurrent assets came to
17,321,765 thousand yen, up 544,367 thousand yen from the end of the previous consolidated fiscal year. This is mainly
because buildings and structures and land increased and property, plant and equipment (other) decreased.
Liabilities as of the end of the second quarter of this consolidated fiscal year came to 14,387,064 thousand yen, down
202,226 thousand yen from the end of the previous consolidated fiscal year.
Current liabilities came to 5,909,771 thousand yen, down 560,486 thousand yen from the end of the previous consolidated
fiscal year. This is mainly because short-term loans payable and current liabilities (other) decreased.
Noncurrent liabilities came to 8,477,293 thousand yen, up 358,260 thousand yen from the end of the previous
consolidated fiscal year. This is mainly because long-term loans payable increased and noncurrent liabilities (other)decreased.
Net assets as of the end of the second quarter of this consolidated fiscal year came to 15,761,571 thousand yen, up 364,553
thousand yen from the end of the previous consolidated fiscal year. This is mainly because of an increase in retained
earnings arising from profit attributable to owners of parent and a decrease due to cash dividends paid.
2) Situation of cash flow
Cash and cash equivalent (hereinafter referred to as “funds”) during the end of the second quarter of the current
consolidated fiscal year stood at 6,477,687 thousand yen, down 2,557,126 thousand yen from the previous consolidated
fiscal year.
The status of each cash flow is as follows:(Cash flow from operating activities)
Funds used in operating activities were 1,448,813 thousand yen (funds obtained in the previous year were 1,001,417
thousand yen). The major breakdown of expenditure was 2,044,334 thousand yen of increase in inventories and 275,355
thousand yen of income taxes paid. The major breakdown of income was 665,837 thousand yen of net income before income
taxes and 453,168 thousand yen of depreciation and amortization.
(Cash flow from investing activities)
Funds used in investing activities were 1,056,570 thousand yen (funds used in the previous year were 1,008,796 thousandyen). The major breakdown of expenditure was 1,024,203 thousand yen of purchase of property, plant and equipment, and130,215 thousand yen of payments into time deposits. The major breakdown of income was 130,210 thousand yen ofproceeds from withdrawal of time deposits.
(Cash flow from financing activities)
Funds used in financing activities were 50,429 thousand yen (funds obtained in the previous year were 526,540 thousand

3yen). The major breakdown of expenditure was 1,267,837 thousand yen of repayment of long-term loans payable and435,204 thousand yen of decrease in short-term loans payable. The major breakdown of income was 1,945,000 thousand
yen of proceeds from long-term loans payable.

(3) Analysis Concerning Future Forecasts Including Consolidated Financial Projections
As for the consolidated financial projections for the term ending March 2019, there are no changes to the estimated values
announced on May 14, 2018.

4

2. Consolidated Financial Statements(1) Consolidated Balance Sheets(Thousands of yen)
FY ended March 31, 2018
(As of March 31, 2018)

2Q of FY ending March 31, 2019
(As of September 30, 2018)

AssetsCurrent assets
Cash and deposits

9,315,023

6,757,903

Notes and accounts receivable-trade
Merchandise

1,918,111
67,5932,091,011
58,447

Real estate for sale
Supplies

989,573372

3,043,039
250

Other
Allowance for doubtful accounts

926,367(8,132)882,439(6,219)13,208,910

12,826,870

7,281,803
3,390,199

8,025,145
3,462,940

Total current assets
Noncurrent assets
Property, plant and equipment
Buildings and structures, net
Land
Other, net

856,990644,385

11,528,994

12,132,470

77,423

67,974

Other
Allowance for doubtful accounts

5,197,995(27,015)

5,147,627(26,306)

Total investments and other assets

5,170,980

5,121,320

16,777,397

17,321,765

29,986,308

30,148,635

621,037

574,472

751,004
2,300,777

315,800
2,439,696

Income taxes payable
Provision for bonuses

269,938
236,941

208,523
239,778

Provision for point card certificates
Provision for shareholder benefit program

137,972
12,397

114,622-

Asset retirement obligation
Other

17,233
2,122,955

9,970
2,006,907

Total current liabilities

6,470,257

5,909,771

Long-term loans payable
Asset retirement obligation

6,549,297
221,321

7,087,541
213,795

Other

1,348,414

1,175,956

Total noncurrent liabilities

8,119,032

8,477,293

14,589,290

14,387,064

Total property, plant and equipment
Intangible assets
Investments and other assets

Total noncurrent assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable-trade
Short-term loans payable
Current portion of long-term loans payableNoncurrent liabilities

Total liabilities

5

(Thousands of yen)
FY ended March 31, 2018
(As of March 31, 2018)

2Q of FY ending March 31, 2019
(As of September 30, 2018)

Net assets
Shareholders’ equity
Capital stock

2,222,935

2,222,935

Capital surplus
Retained earnings

2,666,282
11,691,849

2,666,282
12,047,525

Treasury stock(1,166,007)(1,166,007)

Total shareholders’ equity

15,415,060

15,770,736

Valuation difference on available-for-sale securities
Foreign currency translation adjustment(17,799)(243)(9,523)358

Total accumulated other comprehensive income(18,042)(9,164)

Total net assets

15,397,017

15,761,571

Liabilities and net assets

29,986,308

30,148,635

Accumulated other comprehensive income6(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Consolidated Statements of Income
The second quarter of this consolidated fiscal year
(Thousands of yen)
2Q of FY ended March 31, 2018
2Q of FY ending March 31, 2019
(April 1, 2017 - September 30, 2017) (April 1, 2018 - September 30, 2018)

Net sales

13,100,349

13,421,284

Cost of sales

11,670,463

12,049,013

Gross profit

1,429,885

1,372,270

Provision for bonuses
Taxes and dues

7,814
273,054

7,170
298,687

Provision of allowance for doubtful accounts
Other

439
571,822569,398

Total selling, general and administrative expenses

853,130

875,255

576,755

497,014

Interest income
Dividend income

2,898
24

2,641
2,324

Commission fee
Other64,56464,40478,37586,483

Total non-operating income

131,892

169,825

36,30133,287

Other

2,524

18,219Total non-operating expenses

38,82551,506

Ordinary income

669,821615,333

Extraordinary income
Gain on sales of non-current assets

12,240-Gain on sales of investment securities
Insurance income

9,739
-

73,001

Total extraordinary income

21,98073,001759
3,800

10,351-

12,146

Selling, general and administrative expenses

Operating income
Non-operating income

Non-operating expenses
Interest expenses

Extraordinary loss
Loss on retirement of non-current assets
Impairment loss
Loss on disaster
Total extraordinary loss

4,560

22,497

Income before income taxes

687,241

665,837

Income taxes-current
Income taxes-deferred

194,073
50,309146,858
66,647

Total income taxes

244,382

213,505

Net profit

442,858

452,331

Net profit attributable to owners of parent

442,858

452,3317

Consolidated Statements of Comprehensive Income
The second quarter of this consolidated fiscal year

(Thousands of yen)
2Q of FY ended March 31, 2018
2Q of FY ending March 31, 2019
(April 1, 2017 - September 30, 2017) (April 1, 2018 - September 30, 2018)

Net income
Other comprehensive income
Valuation difference on available-for-sales securities

442,858

452,331

6,165

8,276

Foreign currency translation adjustment

(244)

601

Total other comprehensive income

5,921

8,877

Comprehensive income

448,780

461,208

Comprehensive income attributable toComprehensive income attributable to owners of theparentComprehensive income attributable to non-controllinginterests

448,780

461,208--8

(3) Consolidated Statements of Cash Flows(Thousands of yen)
2Q of FY ended March 31, 2018

2Q of FY ending March 31, 2019

(April 1, 2017- September 30,
2017)(April 1, 2018- September 30,
2018)687,241
488,2123,800

665,837
453,168
10,351(2,416)(2,621)

19,348

2,837(49,629)(23,350)(11,815)(12,397)(12,240)759(9,739)(2,922)36,301(73,001)
12,146(4,965)33,287(123,069)(172,899)

4,916(15,008)(2,044,334)(110,689)(65,139)(46,341)

161,068
1,109,667
863(34,066)(128,591)
53,544(6,143)(1,319,116)
3,094(32,797)
73,001(275,355)
102,360

1,001,417(1,448,813)(1,433,115)(1,024,203)

(759)

-

100,000-(10,000)(95,184)
509,739

(313)
-

5,000

-

(130,204)
130,199(42,748)(130,215)
130,210(32,873)

27,451

77,905(5,999)20,033
81,157(2,050)(7,092)
21,353(101,156)
44,246(34,431)(1,008,796)(1,056,570)

Net cash provided by (used in) operating activities
Income before income taxes
Depreciation and amortization
Impairment loss
Increase (decrease) in allowance for doubtful
accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for point cardcertificates
Increase(decrease) in allowance for shareholders'
benefits
Loss (gain) on sales of noncurrent assets
Loss on retirement of noncurrent assets
Loss (gain) on sales of investment securities
Insurance income
Loss on disaster
Interest and dividends income
Interest expenses
Decrease (increase) in notes and accounts
receivable - trade
Decrease (increase) in inventories
Increase (decrease) in accrued consumption taxes
Increase (decrease) in notes and accounts payable- tradeOther
SubtotalInterest and dividend income received
Interest expenses paid
Proceeds from insurance income
Income taxes paid
Income taxes refund
Net cash provided by (used in) operating
activities
Net cash provided by (used in) investing activities
Purchase of property, plant and equipment
Payments for retirement of property, plant andequipment
Proceeds from sales of property, plant andequipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sales of investment securities
Proceeds from redemption of investment
securities
Payments into time deposits
Proceeds from withdrawal of time deposits
Payments for lease and guarantee deposits
Proceeds from collection of lease and guarantee
deposits
Payments of loans receivableCollection of loans receivable
Purchase of insurance funds
Proceeds from cancellation of insurance funds
Other
Net cash provided by (used in) investment
activities

9(Thousands of yen)
2Q of FY ended March 31, 2018

2Q of FY ending March 31, 2019

(April 1, 2017- September 30,
2017)(April 1, 2018- September 30,
2018)

430,842(435,204)

1,600,000

1,945,000

Repayment of long-term loans payable
Repayments of lease obligations(1,128,299)(433)(1,267,837)-

Repayments of installment payables
Cash dividends paid

(278,668)(96,845)(195,524)(96,862)

(55)

(0)

526,540(50,429)479(1,312)519,641(2,557,126)

Cash and cash equivalents at beginning of year

8,969,729

9,034,813

Cash and cash equivalents at end of period

9,489,371

6,477,687

Net cash provided by (used in) financing activities
Net increase (decrease) in short-term loans
payableProceeds from long-term loans payable

Other
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 equivalents10(4) Notes Regarding Consolidated Financial Statements(Notes regarding premise of a going concern)
Nothing is applicable.
(Notes on significant changes in the amount of shareholders’ equity)
Nothing is applicable.
(Additional information)(Application of Partial Revision to ‘Accounting Standards for Tax Effect Accounting,’ etc.)
Partial Revision to ‘Accounting Standards for Tax Effect Accounting’ (Corporate Accounting Standards No. 28, Feb. 16,2018), etc. have been applied since the beginning of the first quarter of consolidated term. Accordingly, deferred tax assets areindicated in the section of “Investments and other assets,” while deferred tax liabilities are indicated in the section of “Noncurrent
liabilities.”11

(Segment information, etc.)[Segment information]
I. Cumulative period through the consolidated second quarter of the previous fiscal year (April 1 – September 30, 2017)
1. Information on sales, profits or losses, assets, liabilities, and other items for each segment(Thousands of yen)
Consolidated

Reporting segments
Others(Note) *1

Total

Adjustment statements ofamount*2

incomeNursing Care

Karaoke

Restaurant

Real EstateBusiness

Business

Business

Business

7,879,466

3,776,694

870,005

447,987

12,974,155

126,194

13,100,349-

13,100,349

-

5,606

24,2081,724

31,539-31,539(31,539)-

Total

7,879,466

3,782,300

894,214449,71213,005,694

126,194

13,131,888(31,539)

13,100,349

Segment income (loss)

664,093

365,711(8,767)

93,376

1,114,414(18,372)

1,096,042(519,287)

576,755

Total

amount*3

Sales
Sales to externalcustomers
Internal sales ortransferred amountamong the segments(Note) 1. The classification “other business” refers to business segments that are not included in reporting segments, and includes
hotel business.
2. The segment income (loss) adjustments amount, -519,287 thousand yen, includes 241,572 thousand yen in elimination ofintersegment transactions and -760,860 thousand yen in company-wide expenses that are not allocated to reporting segments.
The company-wide expenses are mainly selling, general and administrative expenses that are not allocated to reporting
segments.
3. Segment income (loss) is adjusted with operating income calculated in the consolidated statements of income.
2. Information on impairment of noncurrent assets, goodwill, etc. for each reporting segment(Important impairment loss related to noncurrent assets)
Description is omitted because of lack of materiality.

12II. Cumulative period through the consolidated second quarter of current fiscal year (April 1 – September 30, 2018)
1. Information on sales, profits or losses, assets, liabilities, and other items for each segment(Thousands of yen)
Consolidated

Reporting segments
Others(Note) *1

Total

Adjustment statements ofamount*2

incomeNursing Care

Karaoke

Restaurant

Real EstateBusiness

Business

Business

Business

8,809,339

3,603,390

792,099

107,945

13,312,775

108,508

13,421,284-

13,421,284

-

5,221

23,282600

29,103-

29,103(29,103)-

Total

8,809,339

3,608,611

815,381108,545

13,341,878

108,508

13,450,387(29,103)

13,421,284

Segment income (loss)

693,910367,682

19,336

19,424

1,100,353(25,085)

1,075,267(578,252)

497,014

Total

amount*3

Sales
Sales to externalcustomers
Internal sales ortransferred amountamong the segments(Note) 1. The classification “other business” refers to business segments that are not included in reporting segments, and includes
hotel business.
2. The segment income (loss) adjustments amount, -578,252 thousand yen, includes 242,603 thousand yen in eliminationof intersegment transactions and -820,856 thousand yen in company-wide expenses that are not allocated to reporting
segments. The company-wide expenses are mainly selling, general and administrative expenses that are not allocatedto reporting segments.
3. Segment income (loss) is adjusted with operating income calculated in the consolidated statements of income.
2. Information on impairment of noncurrent assets, goodwill, etc. for each reporting segment(Important impairment loss related to noncurrent assets)
As for the stores closed or to be closed in the second quarter of this consolidated term, an impairment loss of 3,917 thousand
yen was posted in the “Karaoke Business” segment, and an impairment loss of 6,433 thousand yen was recorded in the“Restaurant Business” segment.

13