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

Consolidated Financial Results
for the Three Months Ended June 30, 2024
[Japanese GAAP]
August 5, 2024
Company name: OCHI Holdings Co., Ltd.
Listing:
Tokyo Stock Exchange and Fukuoka Stock Exchange
Securities code:
3166
URL:
https://www.ochiholdings.co.jp
Representative:
Michihiro Ochi, Representative Director, President and Chief Executive Officer
Inquiries:
Naoyuki Shiraishi, Executive Officer, General Manager of Finance Department
Telephone:+81-92-235-0604
Scheduled date to commence dividend payments:–
Preparation of supplementary materials on financial results:
None
Holding of financial results briefing:
None(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Three Months Ended June 30, 2024 (April 1, 2024 – June 30, 2024)(1) Consolidated Operating Results(Percentages indicate 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, 2024
29,143
1.6
591 (21.9)
732 (18.4)
401 (27.0)
June 30, 2023
28,6973.0
756 1.7
897 (1.1)550(2.9)(Note) Comprehensive income: For the three months ended June 30, 2024: ¥330 million [(52.0)%]
For the three months ended June 30, 2023: ¥687 million [30.7%]
Basic earnings
Diluted earnings
per shareper share
Three months ended
Yen
Yen
June 30, 2024
31.00―
June 30, 2023
42.63―
 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 the average
number of shares outstanding 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

66,046
As of June 30, 2024
23,32735.3
1,797.18
66,337
As of March 31, 2024
23,34535.1
1,799.32(Reference) Equity: As of June 30, 2024: ¥23,297 million
As of March 31, 2024: ¥23,315 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 the total
number of shares issued at the end of the period for the purpose of calculating net assets per share.

2. Cash Dividends

Annual dividends per share
1Q-end2Q-endYen

3Q-endYen

Year-end
Yen

Fiscal year ended
–
27.00
–
March 31, 2024
Fiscal year ending–
March 31, 2025
Fiscal year ending
March 31, 2025
27.00–
(Forecast)(Note) Revisions to the forecast of cash dividends announced most recently: None

Total
Yen

Yen

27.00

54.00

27.00

54.00

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2025 (April 1, 2024 - March
31, 2025)(Percentages indicate year-on-year changes.)
Profit attributable
Basic earnings
Net sales
Operating profit
Ordinary profit
to owners ofper share
parentMillion yen% Million yen% Million yen% Million yen

First half
62,000
9.5
1,400
12.8
1,700
10.9
Full year
125,000
10.3
2,800
29.9
3,400
24.5
(Note) Revision to the financial results forecast announced most recently: None

1,050
2,100

%

7.0
0.3

Yen

81.03
162.06

* Notes:(1) Significant changes in the scope of consolidation during the period: None
Newly included: – (), Excluded: – ()(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements:
None(3) Changes in accounting policies, changes in accounting estimates, and restatements
1) Changes in accounting policies due to revisions of accounting standards and other regulations: Yes
2) Changes in accounting policies other than 1):
None3) Changes in accounting estimates:
None4) Restatements:
None(Note) For details, please refer to “(3) Notes to the Quarterly Consolidated Financial Statements (Notes onchanges in accounting policies)” under “2. Quarterly Consolidated Financial Statements and Primary
Notes” on page 8 of the attachment.
(4) Number of issued shares (common shares):
1) Total number of shares issued at the end of the period (including treasury shares):
As of June 30, 2024:
13,610,970 shares
As of March 31, 2024:
13,610,970 shares2) Total number of treasury shares at the end of the period:
As of June 30, 2024:
647,486 shares
As of March 31, 2024:
653,086 shares
3) Average number of shares outstanding during the period:
Three months ended June 30, 2024:
12,960,991 shares
Three months ended June 30, 2023:
12,913,032 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 (93,700 shares as of June 30, 2024, and 93,700
shares as of March 31, 2024). The number of treasury shares deducted in the calculation of the average
number of shares outstanding during the period includes the number of the Company’s shares held by thetrust (93,700 shares for the three months ended June 30, 2024, and 103,300 shares for the three months
ended June 30, 2023).
 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 (79,600 shares as of June 30, 2024, and 85,200 shares as of March 31, 2024).
The number of treasury shares deducted in the calculation of the average number of shares outstanding
during the period includes the number of the Company’s shares held by the trust (82,093 shares for thethree months ended June 30, 2024, and 120,532 shares for the three months ended June 30, 2023).
* Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified
public accountants or an audit firm: None
* 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. The
Company makes no warranty as to the feasibility of its projections. 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. Overview of Results of Operations” on page 3 of the attachment.

Table of Contents - Attachments
1. Overview of Results of Operations............................................................................................................... 2(1) Overview of Results of Operations for the Three Months Ended June 30, 2024 ..................................... 2(2) Overview of Financial Position for the Three Months Ended June 30, 2024 ........................................... 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(Notes on changes in accounting policies) ............................................................................................. 8(Notes on statements of cash flows) ....................................................................................................... 8(Notes on segment information, etc.)...................................................................................................... 9(Revenue recognition) .......................................................................................................................... 10(Significant subsequent events) ............................................................................................................ 10

1

1. Overview of Results of Operations(1) Overview of Results of Operations for the Three Months Ended June 30, 2024
During the three months ended June 30, 2024, the Japanese economy indicated a modest recovery trend,
underpinned by demand from inbound tourists and the improvement of income environment due to corporate
wage hikes. However, the economic outlook remains uncertain for such reasons as weak personal
consumption growth due to lingering inflation, prolonged depreciation of the yen, and geopolitical risks in
Ukraine and the Middle East.
In the housing industry, we faced challenges, such as price hikes in housing construction and concerns
over a possible rise in mortgage rates. While new housing starts for the three-month period increased by 0.5%
year on year, the number of housing starts for owner-occupied houses and built-for-sale detached houses,
which represent the main targets for the Group, registered an 8.9% year-on-year decline.
Against this backdrop, the Group focused on winning orders for non-housing projects, capturing
remodeling/renovation demand, and transforming business portfolio through corporate acquisitions.
As a result, in the three-month period, net sales increased by 1.6% year on year to 29,143 million yen due
to the effect of corporate acquisitions that took place in the previous fiscal year. However, operating profit
decreased by 21.9% year on year to 591 million yen, ordinary profit decreased by 18.4% year on year to 732
million yen, and profit attributable to owners of parent decreased by 27.0% year on year to 401 million yen.
Results by segment were as follows:<Construction Materials Business>
Amid the decline in the number of housing starts for owner-occupied houses and built-for-sale detachedhouses, the Group focused on such efforts as increasing sales in non-housing fields, capturing
remodeling/renovation demand, promoting sales of products aimed at achieving carbon neutrality, andstrengthening the construction function.
As a result, net sales of this business increased by 4.4% year on year to 18,061 million yen because TRESSA
Co., Ltd. and Ai-build Corporation, which both became our subsidiaries in the previous fiscal year, contributed
to the performance of this business. However, operating profit decreased by 11.4% year on year to 209 million
yen due to increases in personnel costs, logistics costs, and other expenses.
<Air-conditioning, Heating and Cooling, and Household Products Business>
Net sales of this business decreased by 2.0% year on year to 3,957 million yen due to a decline in the salesof textiles to mass retailers, despite a strong performance in sales and installation work of freezing andrefrigeration equipment and air-conditioning equipment. However, we recorded an operating profit of 24
million yen (operating loss of 12 million yen for the same period of the previous fiscal year) through efforts to
reduce selling, general and administrative expenses.
<Pre-cut Lumber Business>
We made greater efforts to win orders for non-housing projects, including nursing homes, offices, and otherfacilities, in addition to detached houses, our mainstay. However, due to the decline in new construction starts
for owner-occupied houses and built-for-sale detached houses, net sales of this business decreased by 6.4%
year on year to 3,379 million yen and operating profit decreased by 27.6% year on year to 157 million yen.
<Engineering Business>
Net sales of this business decreased by 0.8% year on year to 3,052 million yen. Operating profit decreased
by 6.4% year on year to 461 million yen due to a slight decline in the profit margin.
<Other>
The businesses of Taihei Shoko Co., Ltd., which sells industrial materials, and Hit-il Co., Ltd., which engages
in the worker dispatching business, are classified into the Other Business that is not included in any reportablesegment.
Net sales of this business decreased by 1.3% year on year to 780 million yen due to a decline in the sales ofelectric insulating materials for industrial use. Operating profit decreased by 65.4% year on year to 9 million
yen because of the costs associated with the acquisition of Hit-il Co., Ltd., a new subsidiary.
We acquired Hit-il Co., Ltd. (Fukuoka City) and made it a new subsidiary in May 2024. As for Hit-il Co.,
Ltd., only the balance sheets have been consolidated for the three months ended June 30, 2024.
2

(2) Overview of Financial Position for the Three Months Ended June 30, 2024
Total assets decreased by 290 million yen, or 0.4%, from the previous fiscal year-end to 66,046 million yen.
This was mainly attributable to decreases of 1,436 million yen in notes and accounts receivable - trade, andcontract assets, 685 million yen in costs on construction contracts in progress, 275 million yen in other undercurrent assets, and 243 million yen in other under investments and other assets, with increases of 2,155 million
yen in cash and deposits and 395 million yen in merchandise.
Total liabilities decreased by 273 million yen, or 0.6%, from the previous fiscal year-end to 42,718 million
yen. This was mainly attributable to decreases of 894 million yen in electronically recorded obligations operating and 619 million yen in short-term borrowings, with increases of 956 million yen in long-termborrowings and 210 million yen in other under current liabilities.
Total net assets declined by 17 million yen, or 0.1%, from the previous fiscal year-end to 23,327 million yen.
This was mainly attributable to a decrease of 71 million yen in valuation difference on available-for-salesecurities, with an increase of 47 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, 2025
from the earlier forecast announced on May 8, 2024.

3

2. Quarterly Consolidated Financial Statements and Primary Notes(1) Quarterly Consolidated Balance Sheets(Million yen)
As of March 31, 2024
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, 2024

14,59816,75419,083

17,647

3,162
4,526
1,645
973
(43)
43,947

3,160
4,922
960
698
(40)
44,102

9,894
4,779
14,673

9,869
4,703
14,572

1,035
389
1,424

977
340
1,318

331
6,006
(47)
6,291
22,38966,337

334
5,763
(45)
6,053
21,94366,046

(Million yen)
As of March 31, 2024
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Current portion of bonds payable
Income taxes payable
Provision for bonuses
Other
Total current liabilities
Non-current liabilities
Bonds payable
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, 2024

13,577
16,798
4,051
33
418
665
2,375
37,921

13,714
15,904
3,432
24
463
692
2,585
36,817

144
1,906

144
2,863

650

655

54

57

627
1,687
5,071
42,992

623
1,557
5,901
42,718400
997
21,867(669)
22,596400
997
21,914(661)
22,650

684
34
719
29
23,34566,337

612
34
646
30
23,32766,046

(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 retirement of non-current assets
Loss on valuation of investment securities
Impairment losses
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, 2023
28,697
24,581
4,116
3,359
756

For the three months
ended June 30, 2024
29,14324,911
4,231
3,639
591

0
22
46
39
55
163

0
21
45
32
68
168

5
8
6
3
23
897

7
7
6
6
27
732

1
0
2

0
–
0

2
–
–
2
896
378
(33)
345
551
0
550

1
1
9
13
719
486
(169)
317
402
0
401

Quarterly Consolidated Statements of Comprehensive Income
Three Months Ended June 30(Million yen)
For the three months
ended June 30, 2023
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, 2024
551

402

135
0
136
687

(71)
(0)
(72)
330

686

329

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.
(Notes on changes in accounting policies)(Application of the Accounting Standard for Current Income Taxes, etc.)
We have applied the Accounting Standard for Current Income Taxes (ASBJ Statement No. 27, October 28, 2022;
hereinafter the “Revised Accounting Standard of 2022”) and other standards from the beginning of the first quarter
under review.
As for the revision of accounting classification of income taxes (imposed on other comprehensive income), we
follow the transitional treatment stipulated in the proviso of Paragraph 20-3 of the Revised Accounting Standard of2022, as well as the transitional treatment stipulated in the proviso of Paragraph 65-2, Item 2 of the Guidance on
Accounting Standard for Tax Effect Accounting (ASBJ Guidance No. 28, October 28, 2022). These changes inaccounting policies do not have any impact on the quarterly consolidated financial statements.
(Notes on statements of cash flows)
Quarterly consolidated statements of cash flows were not prepared for the three months ended June 30, 2024.
Depreciation (including amortization of intangible assets other than goodwill) and amortization of goodwill for thethree months ended June 30, 2023 and 2024 were as follows:(Million yen)
For the three months
ended June 30, 2023

For the three months
ended June 30, 2024

Depreciation

207

205

Amortization of goodwill

64

78

8

(Notes on segment information, etc.)[Segment information]
For the three months ended June 30, 2023 (from April 1, 2023 to June 30, 2023)
Information on net sales and profit, and information on disaggregation of revenue, by reportable segment(Million yen)

Reportable segments
Airconditioning,
Construction Heating andMaterials Cooling, andHouseholdBusiness
Products
Business

Pre-cut
LumberBusinessEngineering
Business

Total

Other
(Note 1)

Amount recordedin the quarterly
Adjustments
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)

15,447

3,867

3,290

108

22,713790–

23,503

1,780

170

262

2,841

5,055

–

–

5,055

13

–

–

126

139

–

–

139

17,240

4,038

3,552

3,076

27,907790–

28,697

17,240

4,038

3,552

3,076

27,907790–

28,697

64

1

59

–

125

0

(125)

–

17,304

4,039

3,612

3,076

28,033790(125)

28,697

236

(12)

218

493

935

27

(206)

756

(Notes) 1. “Other” comprises business segments not included in reportable segments and contains sales of industrial materials.
2. Adjustments for segment profit (loss) of (206) million yen include corporate expenses of (205) 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, 2024 (from April 1, 2024 to June 30, 2024)
Information on net sales and profit, and information on disaggregation of revenue, by reportable segment(Million yen)

Reportable segments
Airconditioning,
Construction Heating andMaterials Cooling, andHouseholdBusiness
Products
Business

Pre-cut
LumberBusinessEngineering
Business

Other(Note 1)

Total

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

Net sales
Revenue from sale ofmerchandise
Revenue fromconstruction work

14,969

3,795

3,154

97

22,016778–

22,794

3,040

160

187

2,826

6,214

–

–

6,214

4

–

–

128

133

–

–

133

18,014

3,955

3,341

3,052

28,364778–

29,14318,014

3,955

3,341

3,052

28,364778–

29,143

47

1

37

–

86

1

(88)

–

Total

18,061

3,957

3,379

3,052

28,451780(88)

29,143

Segment profit

209

24

157

461

853

9

(271)

591

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. Adjustments for segment profit of (271) million yen include corporate expenses of (271) 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 “(3) Notes to the
Quarterly Consolidated Financial Statements (Notes on segment information, etc.)” under “2. Quarterly
Consolidated Financial Statements and Primary Notes.”(Significant subsequent events)
Not applicable.

10