Disclaimer: This document is an English translation of the original document in Japanese and has been
prepared solely for reference purposes. In the event of any discrepancy between this English
translation and the original in Japanese, the original shall prevail in all respects.

Consolidated Financial Results
for the Three Months Ended June 30, 2022
[Japanese GAAP]
Company name:
Stock exchange listing:Code number:
URL:
Representative:
Contact:
Phone:
Scheduled date of filing quarterly securities report:
Scheduled date of commencing dividend payments:
Availability of supplementary explanatory materials
on quarterly financial results:
Schedule of quarterly financial results briefing session:

August 4, 2022
OCHI Holdings Co., Ltd.
Tokyo Stock Exchange and Fukuoka Stock Exchange
3166
https://www.ochiholdings.co.jp
Michihiro Ochi, Representative Director,
President and Chief Executive Officer
Naoyuki Shiraishi, Executive Officer,
General Manager of Finance Department+81-92-711-9173
August 5, 2022
—
None
None

(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Three Months Ended June 30, 2022 (April 1, 2022 - June 30, 2022)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Three months ended
Million yen%
Million yen%
Million yen%
Million yen%
June 30, 2022
27,868
12.3
743
71.5
907
66.5
566
64.6
June 30, 2021
24,821
7.8
433
65.5
544
68.2
344
67.8
(Note) Comprehensive income: Three months ended June 30, 2022: ¥526 million [76.8%]
Three months ended June 30, 2021: ¥297 million [11.3%]
Basic earnings
Diluted earnings
per shareper share
Three months ended
Yen
Yen
44.06
―
June 30, 2022
June 30, 2021
26.44―
 With the introduction of the Board Benefit Trust (BBT) and the introduction of the Trust-type Employee
Shareholding Incentive Plan in February 2022, the Company’s shares held by the respective trusts, which arerecorded as treasury shares in shareholders’ equity, are included in treasury shares that are deducted in thecalculation of average number of shares during the period for the purpose of calculating basic earnings per share.
(2) Consolidated Financial Position
Total assets
Million yen

Net assets
Million yen

Equity ratio

Net assets per share%

Yen

61,924As of June 30, 2022
19,87232.0
1,542.50
62,834As of March 31, 2022
19,81431.5
1,537.51(Reference) Equity: As of June 30, 2022: ¥19,846 million
As of March 31, 2022: ¥19,774 million
 With the introduction of the Board Benefit Trust (BBT) and the introduction of the Trust-type Employee
Shareholding Incentive Plan, the Company’s shares held by the respective trusts, which are recorded as treasury
shares in shareholders’ equity, are included in treasury shares that are deducted in the calculation of total number
of issued shares at the end of the period for the purpose of calculating net assets per share.

2. Dividends
Annual dividends
1st quarter-end

2nd quarter-end

3rd quarter-end

Yen

Yen

Yen

Year-end

Fiscal year ended
–
15.00
–
March 31, 2022
Fiscal year ending–
March 31, 2023
Fiscal year ending
March 31, 2023
25.00–
(Forecast)(Note) Revision to the forecast for dividends announced most recently: None

Total
Yen

Yen

35.00

50.00

25.00

50.00

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023 (April 1, 2022 March 31, 2023)(% indicates changes from the previous corresponding period.)
Profit attributable
Basic earnings
Net sales
Operating profit
Ordinary profit
to owners ofper share
parentMillion yen% Million yen% Million yen%

First half
57,000 11.7
1,400
20.7
1,620
17.3
Full year
115,500
3.2
2,700 (11.9)
3,150(11.2)(Note) Revision to the financial results forecast announced most recently: None

Million yen

1,030
2,000

%

8.7
(42.0)

Yen

80.09
155.51

* Notes:(1) Changes in significant subsidiaries during the period under review: None
(Changes in specified subsidiaries resulting in changes in scope of consolidation):
Newly included: – (), Excluded: – ()(2) Accounting methods adopted particularly for the preparation of quarterly consolidated financial statements:
None(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: Yes
2) Changes in accounting policies other than 1) above: None
3) Changes in accounting estimates: None
4) Retrospective restatement: None
(4) Total number of shares issued (common shares)
1) Total number of shares issued at the end of the period (including treasury shares):
June 30, 2022:
13,610,970 shares
March 31, 2022:
13,610,970 shares2) Total number of treasury shares at the end of the period:
June 30, 2022:
744,828 shares
March 31, 2022:
749,828 shares
3) Average number of shares during the period:
Three months ended June 30, 2022:
12,864,510 shares
Three months ended June 30, 2021:
13,020,872 shares The total number of treasury shares at the end of the period includes the number of shares of the Company
held by the Board Benefit Trust (BBT) as trust assets (109,800 shares as of June 30, 2022 and 109,800
shares as of March 31, 2022). The number of treasury shares deducted in the calculation of the average
number of shares during the period includes the number of the Company’s shares held by the trust(109,800 shares as of June 30, 2022 and 111,370 shares as of March 31, 2022).
 The total number of treasury shares at the end of the period includes the number of shares of the Company
held by a trust established exclusively for the OCHI Holdings Employee Shareholding Association (EShip Trust) as trust assets (161,000 shares as of June 30, 2022 and 166,000 shares as of March 31, 2022).
The number of treasury shares deducted in the calculation of the average number of shares during theperiod includes the number of the Company’s shares held by the trust (162,632 shares as of June 30, 2022
and 27,070 shares as of March 31, 2022).
* These quarterly consolidated financial results are outside the scope of quarterly review by certified public
accountants or an audit firm.
* Explanation of the proper use of financial results forecast and other notes
The earnings forecasts and other forward-looking statements herein are based on information currently available
to the Company and certain assumptions deemed reasonable as of the date of publication of this document, and are
not intended as a guarantee by the Company that they will be achieved. Actual results may differ significantly fromthese forecasts due to a wide range of factors. For assumptions underlying the financial results forecast andprecautions regarding their use, please refer to “(3) Explanation of Consolidated Financial Results Forecast andOther Forward-looking Information” under “1. Qualitative Information on Quarterly Financial Results for the
Period under Review” on page 3 of the attachment.

Table of Contents - Attachments
1. Qualitative Information on Quarterly Financial Results for the Period under Review ............................... 2(1) Explanation of Operating Results ........................................................................................................... 2(2) Explanation of Financial Position ........................................................................................................... 3(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information ....... 3
2. Quarterly Consolidated Financial Statements and Primary Notes .............................................................. 4(1) Quarterly Consolidated Balance Sheets ................................................................................................... 4(2) Quarterly Consolidated Statements of Income and Comprehensive Income ........................................... 6(3) Notes to the Quarterly Consolidated Financial Statements ...................................................................... 8(Notes on going concern assumption) .................................................................................................... 8(Notes in the case of significant changes in shareholders’ equity) ......................................................... 8(Changes in accounting policies) ............................................................................................................ 8(Segment information, etc.) .................................................................................................................... 9(Revenue recognition) .......................................................................................................................... 10(Significant subsequent events) ........................................................................................................... 111

1. Qualitative Information on Quarterly Financial Results for the Period under Review(1) Explanation of Operating Results
During the three months ended June 30, 2022, the Japanese economy began to show signs of picking up
with the easing of COVID-19 movement restrictions. However, its outlook remains uncertain due to the surge
in energy and raw materials prices caused by Russia’s invasion of Ukraine, the sharp depreciation of the yen
and, more recently, the rapid increase in the number of new COVID-19 cases.
In the housing industry, challenges persist, such as the global shortage in lumber supply and its resulting
high prices, as well as continued delay in the supply of housing equipment and others due to the semiconductor
shortage. As a result, new housing starts for the three-month period under review decreased by 1.3% year-onyear. Meanwhile, the number of housing starts for owner-occupied houses and built-for-sale detached houses,
which represent the main targets for the Group, registered a 5.0% year-on-year decline.
Against this backdrop, the Group pursued business opportunities with a focus on growth fields bypromoting sales of products aimed at achieving carbon neutrality, capturing remodeling/renovation demand,and reaching out to non-housing markets, among other efforts.
As a result of the above, in the three-month period under review, net sales increased by 12.3% year-onyear to 27,868 million yen, while operating profit increased by 71.5% year-on-year to 743 million yen,ordinary profit increased by 66.5% year-on-year to 907 million yen, and profit attributable to owners of parent
increased by 64.6% year-on-year to 566 million yen.
Results by segment were as follows:<Construction Materials Business>
While new construction starts for owner-occupied houses and built-for-sale detached houses were on the
decline, the Group focused on expanding sales of products aimed at achieving carbon neutrality, including solar
power generation systems, storage batteries, high-efficiency water heaters, and LED lighting, capturing
demand for remodeling/renovation to enhance comfort in wet areas and improve air quality, and promoting the
introduction of wooden structures and wooden interior decorations to non-housing buildings. To prevent thefurther spread of COVID-19, we decided not to organize trade shows or other events and instead focused on
promoting sales online, via members-only websites, online conference systems, and other means.
As a result of the above, net sales of this business increased by 6.1% year-on-year to 17,365 million yen but
operating profit decreased by 2.7% year-on-year to 258 million yen owing to a rise in labor and logistics costs.
<Air-conditioning, Heating and Cooling, and Household Products Business>
In the Air-conditioning, Heating and Cooling, and Household Products Business, which mainly operates inthe Hokkaido, Tohoku, and Kanto regions, sales of household products decreased owing to changes in somecommercial distribution channels. Sales and installation work of refrigeration/freezing equipment also declined
because of a delay in the supply of equipment.
Nevertheless, net sales of this business increased by 22.0% year-on-year to 3,928 million yen and operating
profit amounted to 14 million yen (compared to operating loss of 8 million yen in the corresponding period of
the previous year), buoyed by the performance of Terada Co., Ltd., which became a subsidiary in October 2021.
<Pre-cut Lumber Business>
While the lumber supply continued to be in short supply globally and lumber prices hovered at high levels
accordingly, we did our utmost to secure materials and sell them at reasonable prices. At the same time, we
made greater efforts to win orders for non-housing projects, including childcare facilities and assembly halls,
in addition to detached houses, our mainstay.
As a result of the above, net sales of this business increased by 48.2% year-on-year to 4,659 million yen andoperating profit increased by 144.7% year-on-year to 392 million yen.
<Engineering Business>
In the Engineering Business, we construct commercial facilities and other properties, engage in interior workfor condominiums, office buildings, and other structures, and provide civil engineering services for public
works projects. Partly because of delayed construction schedule due to the shortage of materials, net sales ofthis business decreased by 12.0% year-on-year to 1,240 million yen, but operating profit increased by 39.9%
year-on-year to 217 million yen, primarily owing to improved profit margin on completed projects.

2<Other>
The business of Taihei Shoko Co., Ltd., which sells industrial materials, is classified into the Other Businessthat is not included in any reportable segment.
Net sales of this business increased by 1.6% year-on-year to 801 million yen and operating profit increased
by 33.4% year-on-year to 26 million yen because of a rise in sales of electric insulating materials for industrialuse.
(2) Explanation of Financial Position
Total assets decreased by 910 million yen, or 1.4%, from the previous fiscal year-end to 61,924 million yen.
This was chiefly attributable to increases of 1,031 million yen in merchandise and 153 million yen in other
under current assets, and decreases of 1,484 million yen in notes and accounts receivable - trade, and contract
assets, 129 million yen in other under investments and other assets, 116 million yen in electronically recordedmonetary claims - operating, and 108 million yen in cash and deposits.
Total liabilities decreased by 967 million yen, or 2.2%, from the previous fiscal year-end to 42,052 million
yen. This was chiefly attributable to an increase of 484 million yen in other under current liabilities, anddecreases of 465 million yen in income taxes payable, 443 million yen in electronically recorded obligations operating, and 277 million yen in long-term borrowings.
Total net assets rose by 57 million yen, or 0.3%, from the previous fiscal year-end to 19,872 million yen.
This was chiefly attributable to a decrease of 42 million yen in valuation difference on available-for-salesecurities and an increase of 106 million yen in retained earnings.
(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information
There are no changes to the consolidated financial results forecast for the fiscal year ending March 31, 2023
from the earlier forecast announced on May 10, 2022.

3

2. Quarterly Consolidated Financial Statements and Primary Notes(1) Quarterly Consolidated Balance Sheets(Million yen)
As of March 31, 2022
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract
assetsElectronically recorded monetary claims - operating
Merchandise
Costs on construction contracts in progress
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Land
Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Retirement benefit asset
Other, net
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

4

As of June 30, 2022

12,19512,08721,061

19,577

3,332
5,107
731
834
(30)
43,231

3,215
6,139
655
987
(34)
42,627

8,354
4,403
12,757

8,352
4,307
12,660

579
724
1,303

543
683
1,227

241
5,316
(15)
5,541
19,602
62,834

239
5,186
(16)
5,409
19,296
61,924

(Million yen)
As of March 31, 2022
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Income taxes payable
Provision for bonuses
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Provision for retirement benefits for directors (andother officers)
Provision for share awards for directors (and otherofficers)
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

5

As of June 30, 2022

15,47916,481
3,223
796
657
2,035
38,673

15,52016,038
3,208
330
580
2,519
38,197

1,663

1,386

434

384

57

51

653
1,537
4,346
43,019

622
1,409
3,854
42,052400
997
18,786(791)
19,392400
997
18,893(785)
19,506

392
(10)
381
40
19,81462,834

349
(9)
339
26
19,872
61,924

(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income
Three Months Ended June 30(Million yen)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Purchase discounts
Rental income from real estate
Other
Total non-operating income
Non-operating expenses
Interest expenses
Rental expenses on real estate
Depreciation
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Total extraordinary income
Extraordinary losses
Loss on sale of non-current assets
Loss on retirement of non-current assets
Loss on sale of investment securities
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

6

For the three months
ended June 30, 2021
24,821
21,591
3,229
2,795
433

For the three months
ended June 30, 2022
27,86824,019
3,848
3,105
743

1
13
32
44
51
144

0
17
52
42
74
187

5
10
7
9
33
544

4
10
6
2
23
907

0
0
0

1
－
1

－
0
－
0
545
265
(65)
200
345
0
344

1
0
0
1
907
364
(25)
339
567
0
566

Quarterly Consolidated Statements of Comprehensive Income
Three Months Ended June 30(Million yen)
For the three months
ended June 30, 2021
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

7

For the three months
ended June 30, 2022
345

567

(48)
1
(47)
297

(42)
1
(41)
526

296

525

0

0

(3) Notes to the Quarterly Consolidated Financial Statements(Notes on going concern assumption)
Not applicable.
(Notes in the case of significant changes in shareholders’ equity)
Not applicable.
(Changes in accounting policies)
The Company has applied the “Implementation Guidance on Accounting Standard for Fair Value Measurement”(Accounting Standards Board of Japan (ASBJ) Guidance No. 31, June 17, 2021; hereinafter “Fair Value
Measurement Guidance”) from the beginning of the first quarter of the fiscal year under review. Accordingly, theCompany will prospectively apply the new accounting policies stipulated in the Fair Value Measurement Guidancein accordance with the transitional treatment stipulated in Paragraph 27-2 of the Fair Value Measurement Guidance.
This change will not have any impact on the quarterly consolidated financial statements.

8

(Segment information, etc.)[Segment information]
For the three months ended June 30, 2021 (from April 1, 2021 to June 30, 2021)
Information on net sales and profit or loss, and information on disaggregation of revenue, by reportable segment(Million yen)
Reportable segments
Airconditioning,
Construction Heating andMaterials Cooling, andBusiness
HouseholdProducts
Business

Pre-cut
LumberBusinessEngineering
Business

Total

Other
(Note 1)

Amount recordedin the quarterly
Adjustment
consolidated(Note 2)statements ofincome(Note 3)

Net sales
Revenue from sale ofmerchandise
Revenue fromconstruction work
Other revenue
Revenue fromcontracts withcustomers
Sales to externalcustomers
Intersegment sales ortransfers
Total
Segment profit (loss)

14,647

2,949

2,909

105

20,611

788―

21,400

1,652

269

212

1,147

3,283

―

―

3,283

8

―

―

128

137

―

―

137

16,309

3,219

3,122

1,382

24,032788―

24,821

16,309

3,219

3,122

1,382

24,032788―

24,821

54

―

21

27

103

0

(103)

―

16,363

3,219

3,143

1,409

24,136788(103)

24,821

265

(8)

160

155

573

19

(160)

433

(Notes) 1. “Other” comprises business segments not included in reportable segments and contains sales of industrial materials.
2. Adjustment for segment profit (loss) of (160) million yen includes corporate expenses of (161) million yen that are notallocated to reportable segments. Corporate expenses primarily consist of general and administrative expenses that are
not attributable to any reportable segments.
3. Segment profit (loss) is reconciled with operating profit in the quarterly consolidated statements of income.

9For the three months ended June 30, 2022 (from April 1, 2022 to June 30, 2022)
Information on net sales and profit or loss, and information on disaggregation of revenue, by reportable segment(Million yen)
Reportable segments
Airconditioning,
Construction Heating andMaterials Cooling, andBusiness
HouseholdProducts
Business

Pre-cut
LumberBusinessEngineering
Business

Total

Other
(Note 1)

Amount recordedin the quarterly
Adjustment
consolidated(Note 2)statements ofincome(Note 3)

Net sales
Revenue from sale ofmerchandise
Revenue fromconstruction work

15,698

3,733

4,406

93

23,931

801―

24,732

1,597

194

189

1,018

3,000

―

―

3,000

6

―

―

128

135

―

―

135

17,302

3,928

4,595

1,240

27,067801―

27,86817,302

3,928

4,595

1,240

27,067801―

27,868

62

―

63

―

126

―

(126)

―

Total

17,365

3,928

4,659

1,240

27,193801(126)

27,868Segment profit

258

14

392

217

883

26

(165)

743

Other revenue
Revenue fromcontracts withcustomers
Sales to externalcustomers
Intersegment sales ortransfers(Notes) 1. “Other” comprises business segments not included in reportable segments and contains sale of industrial materials.
2. Adjustment for segment profit of (165) million yen includes corporate expenses of (168) million yen that are notallocated to reportable segments. Corporate expenses primarily consist of general and administrative expenses that are
not attributable to any reportable segments.
3. Segment profit is reconciled with operating profit in the quarterly consolidated statements of income.

(Revenue recognition)
Information on the disaggregation of revenue from contracts with customers is as presented in “Notes (Segment
information, etc.).”10(Significant subsequent events)(Business combination via share acquisition)
At the Board of Directors’ meeting held on March 23, 2022, the Company passed a resolution to acquire all of
the issued shares of All Japan Data Service, Co., Ltd. (hereinafter “All Japan Data Service”) and make it theCompany’s consolidated subsidiary. The Company acquired the shares of All Japan Data Service on July 7, 2022.
1. Outline of the business combination(1) Name of acquired company and its business outline
Name of acquired company: All Japan Data Service, Co., Ltd.
Business outline: Construction consulting(2) Main reason for business combination
All Japan Data Service, whose shares the Company has acquired, is headquartered in Itabashi-ku, Tokyo,
Japan, and is mainly engaged in the diagnosis and investigation of civil engineering structures from the
Tohoku region to the Kyushu region.
Now that we have made All Japan Data Service our subsidiary, we aim to expand the Engineering Businessand further pursue synergy within the Group, in a bid to realize sustainable growth.
(3) Date of business combination
July 7, 2022
(4) Legal form of business combination
Share acquisition in consideration for cash(5) Name of company after the combination
No change(6) Percentage of voting rights acquired
100%(7) Major basis for determining the acquirer
It is based on the fact that the Company acquired shares in consideration for cash.
2. Acquisition cost of the acquired company and related details of each class of consideration
Consideration for acquisition—Cash and deposits
2,069 million yen
Acquisition cost
2,069 million yen
3. Amount of goodwill incurred, reasons for the goodwill incurred, and the method and period of amortization
To be determined.

11