November 9, 2023

News Release
Name of listed company
Representative(Securities code:Contact

Kyoritsu Maintenance Co., Ltd.
Koji Nakamura, President9616)
Manabu Takaku, Managing Director(TEL +81-3-5295-7778)

Notice of revised forecasts of consolidated financial results and year-end dividends
Please note the following revisions of the forecasts of consolidated financial results and year-end dividends for thefiscal year ending March 31, 2024 (April 1, 2023 through March 31, 2024) announced in the Summary ofConsolidated Financial Results for the Fiscal Year Ended March 31, 2023 [based on Japanese GAAP], published onMay 15, 2023.
Details
1. Revised forecasts of consolidated financial results(1) Revised forecasts of consolidated financial results for the fiscal year ending March 31, 2024 (April 1, 2023
through March 31, 2024)

Million yen

Million yen

Million yen

Net income
attributable toowners ofparent
Million yen

Previously announced
forecast (A)198,000

10,000

9,400

6,100

156.41

Revised forecast (B)200,000

13,00012,0007,000

179.42

Change (B−A)

2,000

3,000

2,600

900

Change (%)

1.030.027.7

14.8

175,630

7,326

7,115

4,241

Net sales

OperatingincomeOrdinary
income(Reference) Results inprevious period(Fiscal year ended March31, 2023)

Net income
per shareYen

108.76(2) Reasons for these revisions
In the first six months of the current consolidated fiscal year, as well as steady recovery in domestic demand, anincrease in foreign students, and a recent recovery in inbound visitors to Japan to near pre-COVID levels, energy
costs have been lower than expected. In light of these major improvements in the business environment, businessperformance in both the Dormitory Business and Hotel Business is likely to improve at a faster-than-expected pace.
Therefore, we have revised upward our forecasts of full-year consolidated financial results for the fiscal year
ending March 31, 2024, announced on May 15, 2023.
These revised forecasts of consolidated financial results are based on information available at the present time.
Actual results may differ from these forecast figures due to various factors.

2. Revised dividend forecasts (Fiscal year ending March 31, 2024)(1) Dividend details
Annual dividends (yen)Q2 endPreviously announced forecast(Announced May 15, 2023)

Year end
16.00

Revised forecast
Results in current period

16.00(Reference) Results in previous period(Fiscal year ended March 31, 2023)

10.00

Total

16.00

32.00

20.00

36.00

12.00

22.00

(2) Reasons for these revisions
We consider capital raised from markets as funds entrusted to us by our shareholders, thus our most important
policy regarding providing returns to shareholders is to do so through dividends that reflect business performanceand earnings. Regarding dividends, we strive to increase the dividend payout ratio based on a fundamental stance ofproviding stable and steady returns to shareholders over the long term, targeting a payout ratio of 20 percent.
In consideration of financial results in the first six months of the current consolidated fiscal year and anticipatedfuture business developments, we have decided to increase the forecast year-end dividend to 20 yen from theprevious forecast announced on May 15, 2023. As a result, we expect to pay full-year dividends of 36 yen/share (apayout ratio of 20.1%) for the current fiscal year, up 14 yen from the previous period (fiscal year ended March 31,2023).