First Quarter Consolidated Financial Reportfor the Three Months Ended June 30, 2022 (Japan GAAP)
July 29, 2022

Takara Leben CO., LTD.

Shares listed on:
Security code:
URL:
Representative:
Contacts:

Prime market of the Tokyo Stock Exchange
8897
https://www.leben.co.jp
Kazuichi Shimada, Representative Director, CEO, President Executive Officer
Masashi Yamamoto, Director, CFO, General Manager of the Administration Headquarters
Tel: +81-3-6551-2130

Scheduled date for release of Quarterly Report:
Scheduled date for commencement of dividend payments:
Has the Company prepared supplementary briefing materials for the Quarter:
Has the Company held briefings concerning its quarterly financial results:

August 10, 2022-NoNo

1. Consolidated Operating Results for the Three Months Ended June 30, 2022
(April 1-June 30, 2022)(Amounts are rounded down to the nearest million)(1) Consolidated Operating Results (Year-to-Date)(Percentage figures represent year-on-year change)
Net income
Net Sales

Operating Income

Ordinary Income

attributable toowners of parent

Millions of yen%

Millions of yen%Three months ended June 30, 2022

28,325Three months ended June 30, 2021

18,337

Millions of yen%

54.5

597

－

(900)

Millions of yen%

－398

－

(1,271)－206－－(1,080)－(Note) Comprehensive income: Three months ended June 30, 2022 ¥134million (－%) / Three months ended June 30, 2021 (¥888)
million (－%)
Net Income perShare

Diluted Net Incomeper ShareYenYenThree months ended June 30, 2022

1.89

1.88

Three months ended June 30, 2021

(9.94)－(Note) 1. As the Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31,2020), etc. from the beginning of the first quarter of the previous fiscal year, the figures for the first quarter of the fiscal year ended
March 31, 2022 are after the application of the said accounting standard, etc., and the percentage change from the same quarter ofthe previous year is not stated.
2. At the end of the fiscal year ended March 31, 2022, the Company finalized the provisional accounting treatment for the businesscombination, and each figure for the first quarter of the fiscal year ended March 31, 2022 reflects the details of the finalization of
the provisional accounting treatment.

(2) Consolidated Financial Position
Total Assets

Net Assets

Equity Ratio

Millions of yen

Millions of yen%

As of June 30, 2022

243,51958,06923.7

As of March 31, 2022

223,473

59,601

26.5(Reference) Shareholders’ equity at end of period: June 30, 2022: ¥57,708 million / March 31, 2022: ¥59,109 million

2. Cash Dividends
Annual Cash Dividends per Share
1Q

2Q
Yen

Year Ended March 31, 2022－

Year Ending March 31, 2023

－

3Q
Yen

Year Ending March 31, 2023 (Forecast)Year-End
Yen

TotalYen

Yen

4.00

－

14.00

18.00

4.00

－

16.00

20.00

(Note) Has the Company changed its dividend forecast for the current quarter: No

3. Consolidated Operating Results Forecast for the Fiscal Year Ending March 31, 2023
(April 1, 2022-March 31, 2023)
Net Sales

Full year

Operating Income(Percentage figures represent year-on-year change)
Net income
Net Income per
Ordinary Income
attributable toShareowners of parent

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

yen

173,500

6.6

11,9000.2

10,300

0.4

7,000

12.6

64.19

(Note) Has the Company changed its consolidated forecast during this quarter: No*Notes(1) Changes in significant subsidiaries during the current fiscal year
(Changes in specified subsidiaries resulting in changes in scope of consolidation): No
Newly consolidated companies (--) Newly excluded companies (--)
(2) Application of Special Accounting Treatment Made in Preparationof the Quarterly Consolidated Financial Statements: No(3) Changes in Accounting Policies, Changes in Accounting Estimates or Restatement
A. Changes in accounting policies accompanying revision of accounting standards: No
B. Changes in accounting policies other than those in (A): No
C. Changes in accounting estimates: NoD. Restatement: No(4) Number of shares issued (common stock)a. Number of shares outstanding at the end of the period (including treasury stock)b. Number of shares of treasury stock at the end of the periodc. Average number of shares during the period (quarter year-to-date)a.

Three months ended June 30, 2022:

121,000,000 shares

As of March 31, 2022:b.
c.

121,000,000 shares

Three months ended June 30, 2022:

11,948,807 shares

As of March 31, 2022:

11,948,807 shares

Three months ended June 30, 2022:

109,051,193 shares Three months ended June 30, 2021 :

108,655,093 shares*This quarterly earnings report is exempt from the quarterly review based on the Financial Instruments andExchange Act.
*Explanation concerning appropriate use of the projected operating results and other items to note
The forward-looking statements, including business results forecasts, contained in these materials are based on
information currently available to the Company and on certain assumptions deemed to be reasonable. Actual
business results may differ substantially due to a number of factors.

Takara Leben CO., LTD. (8897) Consolidated Financial Report for the Three Months Ended June 30, 2022

Attachments Table of Contents
1. Qualitative Information Pertaining to Consolidated Operating Results for the Quarter .......................................... 2(1) Qualitative Information Pertaining to Consolidated Operating Performance ..................................................... 2(2) Qualitative Information Pertaining to Consolidated Financial Position ............................................................. 3(3) Qualitative Information Pertaining to Forecasted Consolidated Operating Results ........................................... 4
2. Quarterly Consolidated Financial Statements ........................................................................................................... 5(1) Quarterly Consolidated Balance Sheets .............................................................................................................. 5(2) Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive
Income ................................................................................................................................................................ 8
Quarterly Consolidated Statements of Income
First-Quarter Year-to-Date Period ................................................................................................................... 8
Quarterly Consolidated Statements of Comprehensive Income
First-Quarter Year-to-Date Period ................................................................................................................... 9(3) Notes on Quarterly Consolidated Financial Statements.................................................................................... 10(Notes on Assumption of Going Concern) ....................................................................................................... 10(Notes on a Significant Change in Shareholders’ Equity) ................................................................................ 10-1-Takara Leben CO., LTD. (8897) Consolidated Financial Report for the Three Months Ended June 30, 2022

1. Qualitative Information Pertaining to Consolidated Operating Results for the Quarter
Since the provisional accounting treatment for the business combination conducted in the first quarter of theprevious fiscal year was finalized at the end of the previous fiscal year, comparisons and analysis with the samequarter of the previous fiscal year are based on the amount after reflecting a significant revision of the initial
allocation of acquisition costs due to the finalization of the provisional accounting treatment. The Company has
adopted the provisional accounting treatment for corporate combinations.
(1) Qualitative Information Pertaining to Consolidated Operating Performance
During the first quarter of the current fiscal year, the Japanese economy was in a lull in the outbreak of theCOVID-19 infection, but the situation continues to require close monitoring due to its re-expansion. In addition,
the rapidly advancing financial market volatility and heightened geopolitical tensions due to Russia's invasion of
Ukraine have affected the prices of various materials, and the outlook for the global economy as a whole remains
uncertain.
In accordance with the "Notice of Business Segment Change" announced on March 14, 2022, the Group haschanged the classification of its segments from five business segments to four business segments effective fromthe first quarter of the current fiscal year. The figures for the first quarter of the previous fiscal year in theexplanation of each segment below have been reclassified to reflect the new segments.
(Millions of yen)

Q1 FY 2021

Segment nameReal Estate Business
Energy Business
Asset Management
Business
Other Businesses
TotalNet Sales

Q1 FY 2022

OperatingNet Sales

incomeYear-on-Year

Operatingincome

Net SalesOperatingincome

14,930(1,000)24,835

809

9,905

1,809

2,646

22

2,643(163)

(3)

(186)

200

52

250

7350

21560

24595(122)

35(147)

18,337(900)28,325

597

9,988

1,497

a. Performance by business segment
In the real estate business, from new built-for-sale condominium, new detached house, renewal resale,liquidation, real estate rental, real estate management, and real estate other amounted to ¥24,835 million (up66.3% year-on-year).
In the energy business, net sales were ¥2,643 million (down 0.1% year-on-year) due to income from the sale ofelectricity generated by power generation facilities.
In the asset management business, net sales amounted to ¥250 million (up 25.3% year-on-year) due to asset
management fees and other factors.
In the other businesses, net sales were ¥595 million (up 6.3% year-on-year) due to construction contracts andother factors.
As a result, Net sales for the first-quarter year-to-date period of the current consolidated fiscal year amounted
to ¥28,325 million (up 54.5% year-on-year). Operating income amounted to ¥597 million (¥900 million
operating loss in the same period of the previous fiscal year). Ordinary income of ¥398 million (¥1,271 million
ordinary loss in the same period of the previous fiscal year). And net income attributable to owners of parent ofamounted to ¥206 million (¥1,080 million net loss attributable to owners of parent of amounted in the same-2-Takara Leben CO., LTD. (8897) Consolidated Financial Report for the Three Months Ended June 30, 2022

period of the previous fiscal year).
b. Progress of Contracts
With regard to sales performance in the first-quarter year-to-date period of the current consolidated fiscal year,contracts were concluded for 1,433 units, compared with a full-year target of 1,780 units scheduled for delivery.
The contract ratio was at 80.5%.
(Contracts signed versus number of units forecast for New built-for-sale condominium delivery)
Number of contracts
Units scheduled
Number ofsigned from April 1Contracted
for delivery
contracts signed
June 30
ratio (%)
(units)(units)(units)Three months ended
1,800
1,268
70.4
514
June 30, 2021
Three months ended
1,780
1,43380.5635
June 30, 2022(2) Qualitative Information Pertaining to Consolidated Financial Position
Assets, Liabilities and Net Assets
With regard to the assets, liabilities, and net assets of the Group at the end of the first-quarter consolidated
accounting period under review, total assets were ¥243,519 million, an increase of ¥20,046 million comparedwith the end of the previous consolidated fiscal year. The increase mainly reflected an increase in inventories
associated with new purchases.
(Current Assets)
Current assets increased ¥23,284 million compared with the end of the previous consolidated fiscal year to¥165,909 million. This mainly reflected an increase in inventory in conjunction with new purchase.
(Fixed Assets)
Fixed assets decreased ¥3,230 million compared with the end of the previous consolidated fiscal year to¥77,561 million, mainly due to the transfer to real estate for sale and power generation facilities for sale, despite
the steady purchase of business assets.
(Current Liabilities)
Current liabilities increased ¥8,862 million compared with the end of the previous consolidated fiscal year to¥83,873 million, mainly due to increase in short-term borrowings and the reclassification of short term and longterm borrowings payable.
(Fixed Liabilities)
Fixed liabilities increased ¥12,715 million compared with the end of the previous consolidated fiscal year, to¥101,576 million, mainly due to an increase in borrowings resulting from new purchases, etc.
(Net Assets)
Total net assets amounted to ¥58,069 million, down ¥1,532 million from the end of the previous consolidated
fiscal year, mainly due to the fact that dividends from retained earnings exceeded the amount of net income-3-Takara Leben CO., LTD. (8897) Consolidated Financial Report for the Three Months Ended June 30, 2022

attributable to owners of the parent and other factors.
(3) Qualitative Information Pertaining to Forecasted Consolidated Operating Results
There is no change in the forecast of consolidated financial results for the full year announced on May 13, 2022.

-4-

Takara Leben CO., LTD. (8897) Consolidated Financial Report for the Three Months Ended June 30, 2022

2. Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheets(Millions of yen)
As of March 31, 2022

As of June 30, 2022ASSETS
Current assets:
Cash and deposits

33,42831,560Notes, accounts receivable-trade and contract assets

2,886

6,023

Real estate held for sale32,61648,550Power generation facilities for sale

1,001

3,596

Real estate held for sale in progress

58,036

63,599

1263

Other

14,91912,790Allowance for doubtful accounts

(275)

(275)

142,625

165,909

Costs incurred on uncompleted contracts

Total current assets
Fixed assets:
Property, plant and equipment
Buildings and structures (net)

9,553

7,754

Land

36,94837,394

Other (net)17,237

15,695

Total property, plant and equipment

63,73960,843

1,561

1,479

948

954

2,510

2,433

Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Other

14,554

14,297

Allowance for doubtful accounts

(12)

(12)

Total investments and other assets

14,542

14,28480,792

77,56155

47

223,473

243,519

Notes and accounts payable - trade15,411

12,489

Short-term loans payable

14,18927,083Current portion of bonds payable

2,168

2,120

Current portion of long-term loans payable

25,29825,400

Income taxes payable

2,089

277

Allowance

1,115

928

Other

14,73815,573

Total current liabilities

75,01083,873

Total fixed assets
Deferred assets
Total assets
LIABILITIESCurrent liabilities:-5-Takara Leben CO., LTD. (8897) Consolidated Financial Report for the Three Months Ended June 30, 2022

(Millions of yen)
As of March 31, 2022

As of June 30, 2022

Fixed liabilities
Long-term loans payable

81,923

94,620Bonds payable

4,070

4,060

Allowance

160

159

Liabilities related to retirement benefits

984

1,019

Other

1,722

1,716

Total fixed liabilities

88,860101,576

163,871

185,450

Total liabilities-6-Takara Leben CO., LTD. (8897) Consolidated Financial Report for the Three Months Ended June 30, 2022

(Millions of yen)
As of March 31, 2022

As of June 30, 2022

NET ASSETS
Shareholders’ equity
Capital stock

4,819

4,819

Capital surplus

4,817

4,817

Retained earnings

53,39552,074

Treasury stock(4,456)(4,456)

Total shareholders’ equity

58,57557,254

Valuation difference on other securities

548

464

Accumulated other comprehensive income
Foreign currency translation adjustment03

Remeasurements of defined benefit plans

(14)

(13)

Total accumulated other comprehensive income

534

454

Subscription rights to shares

197

197

Non-controlling interest

294

162

59,60158,069223,473

243,519

Total net assets
Total liabilities and net assets-7-Takara Leben CO., LTD. (8897) Consolidated Financial Report for the Three Months Ended June 30, 2022

(2) Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive Income
Quarterly Consolidated Statements of Income
First-Quarter Year-to-Date Period(Millions of yen)Three Months EndedJune 30, 2021

Three Months Ended
June 30, 2022

Net sales

18,33728,325

Cost of sales

14,57022,485Gross profit

3,766

5,839

Selling, general and administrative expenses

4,667

5,242

Operating income (loss)

(900)

597

Interest income

215

Non-Operating income:
Dividend income

7671

Commissions received

919

Gain from equity method investment－67

Miscellaneous income

4952

Total Non-Operating income

155

216

436

360

Non-Operating expenses:
Interest expense
Losses from equity method investment

65－

Miscellaneous losses

2553

Total Non-Operating expenses

526414

Ordinary income (loss)(1,271)

398

Income (loss) before income taxes and minority interests(1,271)

398

Income taxes, inhabitant taxes and business taxes

158

143

Income tax adjustments

(352)

40

Total income and other taxes

(194)

184

(1,077)214

38(1,080)

206

Net income (loss)
Net income attributable to non-controlling shareholders
Net income attributable to owners of parent (loss)-8-

Takara Leben CO., LTD. (8897) Consolidated Financial Report for the Three Months Ended June 30, 2022

Quarterly Consolidated Statements of Comprehensive Income
First-Quarter Year-to-Date Period(Millions of yen)Three Months Ended
June 30, 2021
Net income (loss)

Three Months Ended
June 30, 2022

(1,077)214

Other comprehensive income:
187

(84)

Foreign currency translation adjustment

Net unrealized gains on available-for-sale securities

03

Remeasurements of defined benefit plans

0

1188

(80)

(888)

134

Comprehensive income attributable to owners of parent(891)125

Comprehensive income attributable to non-controlling shareholders

38

Total other comprehensive income
Comprehensive income(Comprising)-9-Takara Leben CO., LTD. (8897) Consolidated Financial Report for the Three Months Ended June 30, 2022

(3) Notes on Quarterly Consolidated Financial Statements(Notes on Assumption of Going Concern)
The Company had no pertinent matters to report.
(Notes on a Significant Change in Shareholders’ Equity)
The Company had no pertinent matters to report.

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