News Release
February 9, 2024
Name of listed company:
Representative:

Kyoritsu Maintenance Co., Ltd.
Koji Nakamura, President(Securities code: 9616, TSE Prime)
Manabu Takaku, Executive Director+81-3-5295-7778

Contact:
Tel.:

Notice of revised forecasts of consolidated financial results and year-end dividends
Please note the following revisions to 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 “Notice of revised
forecasts of consolidated financial results and year-end dividends,” released November 9, 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)
Net sales

OperatingincomeOrdinary
incomeMillion yen

Million yen

Million yen

Net income
attributable toowners ofparent
Million yen

Previously announced
forecast (A)200,000

13,00012,0007,000

179.42

Revised forecast (B)203,000

15,00014,0008,500

217.86

Change (B−A)

3,000

2,000

2,000

1,500

Change (%)

1.5

15.4

16.7

21.4

175,630

7,326

7,115

4,241

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

Net income pershare
Yen

108.76* These forecasts exclude monetary impacts not finalized at present, such as the cost of repairs and reconstruction
due to the Noto Peninsula Earthquake and the effects of the acquisition of stock in Cosmos Initia Co., Ltd (tomake it an affiliated company by application of the equity method).
(2) Reasons for revisions
Forecasts of consolidated financial results announced on November 9, 2023 reflected expectations of large-scale
improvements in business performance during the third quarter. However, average daily rates in the Hotel Business
leapt past these forecasts due to the weak yen and other factors, which boosted numbers of visitors to Japan pastpre-COVID figures recorded during the same period (October to December 2019). Accordingly, we have revised
upward our forecasts of consolidated financial results for the fiscal year ending March 31, 2024. These revisions
reflect the fact that projected income for the first nine months of the year was achieved earlier than previously
forecast, as well as expectations for continually improving business performance in the fourth quarter.

These revised forecasts of consolidated financial results are based on information available at this time. Actual
results, however, may differ 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 November 9, 2023)

16.00 yen

Revised forecast
Results in current period

16.00 yen

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

10.00 yen

Year endTotal

20.00 yen

36.00 yen

28.00 yen

44.00 yen

12.00 yen

22.00 yen

(2) Reasons for revisions
We regard capital raised from markets as funds entrusted to us by our shareholders. Thus, we consider payments ofdividends that reflect business performance and earnings to be a key policy governing returns to shareholders. We
strive to increase the dividend payout ratio based on the position of providing stable and steady returns toshareholders over the long term, targeting a payout ratio of 20 percent.
In consideration of financial results in the first nine months of the current consolidated fiscal year and anticipatedfuture business developments, we have decided to increase the forecast year-end dividend to 28 yen from theprevious forecast announced on November 9, 2023. We expect to pay full-year dividends of 44 yen/share (for apayout ratio of 20.2%) for the current fiscal year, up 22 yen from the previous period (fiscal year ended March 31,2023).