Disclaimer: This is a Japanese-English translation of the summary of financial statements of the Company produced for your convenience. Since
no auditor audited this report, officially only the Japanese version is assumed to be the summary of financial statements of the Company. Thissummary does not constitute any guarantee and will not compensate any losses and/or damage stemming from actions taken based on thesestatements. In the case that there is any discrepancy between the Japanese and English versions, the Japanese version is assumed to be correct.

Consolidated Financial Reportfor the Third Quarter of Fiscal 2022 Ending March 31, 2022 (Japanese GAAP)
Company Name:Grandy House Corporation
Stock Exchange Listing:
Securities Code:
8999
URL:
Representative:
Yasuro Hayashi, President
Inquiries:
Atsuo Saito, Vice President, General Administration Manager
Scheduled date of quarterly securities report filing:
February 10, 2022
Scheduled date of dividend payment commencement:―
Preparation of quarterly supplementary explanatory materials:
None
Quarterly results briefing held:
None

February 7, 2022
Tokyo Stock Exchange
https://www.grandy.co.jp
TEL: +81-28-650-7777(Figures are rounded down to the nearest million yen unless otherwise stated.)

1. Consolidated Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2022
(April 1, 2021 to December 31, 2021)(1) Consolidated Operating Results
Net Sales(Percentage figures show the year-on-year increase (decrease).)Net Income Attributable
Operating Income
Ordinary Income
to Owners of the Parent(¥ million)%(¥ million)%(¥ million)%(¥ million)%

40,507

20.0

3,069

126.0

2,913

140.8

1,962

156.5

33,761

—

1,358

—

1,209

—

765

—

Nine months ended
December 31, 2021
Nine months ended
December 31, 2020
Note: Comprehensive income

Nine months ended December 31, 2021: ¥1,950 million (157.8%)
Nine months ended December 31, 2020: ¥756 million (—%)
Net Income per ShareNet Income per Share(Diluted)(¥)(¥)

Nine months ended
December 31, 2021
Nine months ended
December 31, 2020

66.80

66.24

26.32

26.32

Note: As the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, issued on March 31, 2020) and other standards havebeen applied since the beginning of the first quarter of the fiscal year ending March 2022, financial results related to the third quarter of the
fiscal year ended March 31, 2021 reflect figures calculated after the retroactive application of such standards. Accordingly, percentagechanges representing the year-on-year increase (decrease) between the third quarter of the fiscal year ended March 31, 2021 and the same
period of the previous fiscal year are not stated.

(2) Consolidated Financial Position

December 31, 2021
March 31, 2021

Total Assets(¥ million)
60,00858,070Net Assets(¥ million)
24,541
23,160Shareholders' Equity Ratio
%
40.7
39.6

Net Assets per Share(¥)
824.79786.57

Reference: Shareholders' equity

December 31, 2021: ¥24,425 million
March 31, 2021: ¥23,007 million
Note: Figures related to the fiscal year ended March 31, 2021 reflect those calculated after the retroactive application of the "AccountingStandard for Revenue Recognition" (ASBJ Statement No. 29, issued on March 31, 2020) and other standards.

2. Dividends
1Q-EndFiscal 2021
Fiscal 2022
Fiscal 2022 (Forecast)

2Q-End(¥)——

Annual Dividend per Share
3Q-End
(¥)
(¥)
0.00
—
0.00
—

Note: Revisions to the most recently announced forecast of cash dividends in the current quarter: Yes

Period-End

Total

(¥)
24.00

(¥)
24.00

30.00

30.00

3. Consolidated Financial Forecasts for Fiscal 2022 (April 1, 2021 to March 31, 2022)

Net Sales

Full Fiscal Year(¥ million)
54,000Operating Income%
14.5(¥ million)
4,000

%
73.9

(Percentage figures show the year-on-year increase (decrease).)Net Income
Ordinary Income
Attributable to
Net Income per ShareOwners of the Parent(¥ million)%(¥ million)
%
(¥)
3,800
81.3
2,500
44.9
84.70

Note: Revisions to the most recently announced financial forecasts in the current quarter: Yes
As the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, issued on March 31, 2020) and other standards havebeen applied since the beginning of the fiscal year ending March 2022, percentage changes representing the year-on-year increase(decrease) show comparisons with figures for the fiscal year ended March 2021 calculated after the retroactive application of suchstandards.

* Notes(1) Significant changes to subsidiaries during the period(Transfers of specific subsidiaries with changes in the scope of consolidation): None
Newly included: —Excluded: —(2) Adoption of specific methods for preparation of the quarterly consolidated financial statements: None
(3) Changes in accounting policies and accounting estimates, and restatement of revisions
1) Changes in accounting policies due to revision to accounting standards, etc.:
2) Changes in accounting policies other than 1):
3) Changes in accounting estimates:
4) Restatements:
Note:

Yes
None
None
None

For details, please refer to "(3) Notes to Quarterly Consolidated Financial Statements (Changes in Accounting Policies)" in "2.
QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS AND NOTES" on page 9 of the Attachment Materials.

(4) Number of issued shares (common stock)1) Number of issued shares(including treasury shares)
2) Number of treasury shares
3) Average number of shares during the period

December 31, 2021

30,823,200 shares

March 31, 2021

December 31, 2021
Nine months ended
December 31, 2021

1,209,445 shares

March 31, 2021
1,572,645 shares
Nine months ended
29,070,755 shares
December 31, 2020

29,382,655 shares

30,823,200 shares*This consolidated quarterly financial report is not subject to quarterly review by a certified public accountant or an
audit firm.

*

Explanation concerning the appropriate use of financial forecasts and other special instructions
Results forecasts and other forward-looking statements contained in this report are based on assumptions, beliefs, anduncertainties in light of information available to the Company's management as of the publication date. Actual results may
differ materially from forecasts due to a variety of factors. Therefore, the Company does not guarantee the accuracy of
forecasts and other forward-looking statements and its ability to achieve stated targets.

Attachment Materials: Table of Contents
1. QUALITATIVE INFORMATION ON FINANCIAL STATEMENTS.................................................................. 2(1) Explanation regarding Operating Results ........................................................................................................... 2(2) Explanation regarding Financial Position .......................................................................................................... 3(3) Explanation regarding Future Prospects including Consolidated Financial Forecasts ....................................... 4
2. QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS AND NOTES ................................................. 5(1) Quarterly Consolidated Balance Sheets ............................................................................................................. 5(2) Quarterly Consolidated Statements of Income and Comprehensive Income ..................................................... 7(Quarterly Consolidated Statements of Income)(Consolidated cumulative third quarter) ......................................................................................................7(Quarterly Consolidated Statements of Comprehensive Income)(Consolidated cumulative third quarter) ......................................................................................................8(3) Notes to Quarterly Consolidated Financial Statements ...................................................................................... 9(Notes on Going Concern Assumptions)............................................................................................................9(Notes on Significant Changes in the Amount of Shareholders' Equity) ...........................................................9(Changes in Accounting Policies) ......................................................................................................................9(Additional Information) ....................................................................................................................................9(Segment Information) .....................................................................................................................................10― 1 ―1. QUALITATIVE INFORMATION ON FINANCIAL STATEMENTS
As the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, issued on March 31, 2020) andother standards have been applied since the beginning of the first quarter of the fiscal year ending March 2022, thecomparative analysis with the cumulative third quarter of the previous consolidated fiscal year, the third quarter ofthe previous consolidated fiscal year, and the full previous consolidated fiscal year in "Explanation regarding
Operating Results" and "Explanation regarding Financial Position" for the cumulative third quarter of consolidated
fiscal 2022 under review is based on figures calculated after the retroactive application of such standards.
(1) Explanation regarding Operating Results
In the cumulative first nine months of the consolidated fiscal year under review, the Japanese economy faced
a tough condition as the real GDP growth rate for the July–September 2021 period turned negative for the firsttime in two quarters due to the impact of the spread of infections caused by the 5th wave of COVID-19.
However, the economic and social activities also started returning to normal gradually with infections calming
down after the fall in Japan.
In the housing section, the number of new housing starts has remained on a moderate recovery path toward
the pre-pandemic level mainly due to increased customer interest in detached houses and support measures taken
to promote home acquisition. On the other hand, the business outlook remained uncertain because the market
prices of wood materials, resulting from the so-called "wood shock," remained high longer than expected, thesupply of housing equipment stayed unstable, and the move to revise prices due to the surge in raw material
prices also took place.
Under these circumstances, the Grandy House Group has made efforts not only to strengthen its businessfoundation and expand its business areas for sustainable growth with the aim of further enhancing corporate
value but also to step up efforts to help develop a sustainable society under its third medium-term business plan(from the fiscal year ending March 2022 to the fiscal year ending March 2024) while implementing thoroughinfection control measures with top priority on ensuring the safety of customers and the health of employees.
With regard to new home sales, one of our core operations, we focused on purchases of land for housing
projects and sales promotion with the aim of expanding our sales area in Saitama and Kanagawa Prefectures,
which were our focal areas of business expansion. With respect to the Saitama Branch, we reinforced thebusiness system by transferring and consolidating the branch functions to a new office building. Moreover, westarted selling detached houses in Tokyo as a new sales area, completing our goal of establishing a foothold in all
prefectures in the Kanto region. On the other hand, in existing home sales, we endeavored to expand andreinforce our product inventory by doubling down on purchases to secure an increase in the number of homes
sold.
Through these efforts, both the number of homes sold and the sales of new homes and existing homes
increased, in comparison with the same period of the previous year, whereby profits recovered significantly as
well.
As a result of these initiatives, the Grandy House Group's consolidated cumulative operating results for thethird quarter of fiscal 2022 under review were as follows: Net sales were ¥40,507 million, an increase of 20.0%
year-on-year; operating income rose to ¥3,069 million, an increase of 126.0% year-on-year; ordinary income was¥2,913 million, an increase of 140.8% year-on-year; and net income attributable to owners of the parent totaled¥1,962 million, an increase of 156.5% year-on-year.
Operating results by business segment are presented as follows.
a. Real Estate Sales
In new home sales, we have continued to implement thorough infection prevention measures and expanded
and strengthened our non-contact sales activities by making better use of IT. In Saitama Prefecture andKanagawa Prefecture, both of which were key areas for business expansion, we focused on measures including
broadening sales areas. In Saitama Prefecture, we opened the Fujimino Branch (in Fujimi City) in April of lastyear, and we transferred and consolidated the branch functions, which had been split into two bases, to the new
office building (Midori Ward, Saitama City) of the Saitama Branch in October to reinforce the production andsales structures and upgrade the showroom functions. In parallel, we stove to enhance the brand recognition ofGrandy House through an initiative to start broadcasting new commercials. In Kanagawa Prefecture, we haveincreased our personnel to expand our business and made efforts to reinforce the production and sales structures
for homes from in-house construction.

― 2 ―Furthermore, we started selling properties in "~Sakura~ Oizumi" (a total of four lots) in the first sales phaseof our first housing project in Tokyo, Nishi-Oizumi, Nerima Ward (a planned total of 21 lots) in December. With
this, we completed our goal of establishing a foothold in all prefectures in the Kanto Region.
In terms of projects, we have continued to differentiate ourselves from competitors by developing high added
value products, such as proposals for new homes that accommodate new lifestyles and creating a safe and secure
townscape that pay special attention to child-rearing generations in response to changes in demand for the
housing environment caused by the Coronavirus (COVID-19) crisis. Furthermore, we started selling homes in the"Sora Town Tsukuba Matsushiro," a strategic large-scale housing project (with a total of 96 lots, Tsukuba City,
Ibaraki Prefecture), in which all new homes employed the zero-net-energy house system (ZEH). With theseprojects, we also proceeded with new efforts for proposing sustainable lifestyles.
Thanks to these efforts, the number of new homes sold in the consolidated cumulative third quarter of fiscal
2022 under review was 1,127, which was a record high for the same nine month period (an increase of 148
homes year-on-year).
In existing-home sales, we have continued our efforts to expand the number of homes sold by enhancing
product inventory. Despite the continuing impact of intensified competition among other things, the number ofhomes sold for the consolidated cumulative third quarter of fiscal 2022 under review was 116 (an increase of 14
homes year-on-year). This was achieved mainly by the expansion and reinforcement of online advertising,increased coordination with brokers, and a focus on purchases through auctions, thereby building up bothpurchases and sales.
As a result, sales in the real estate sales segment in the consolidated cumulative third quarter of fiscal 2022
increased by 19.7% year-on-year to ¥37,718 million, with a segment profit of ¥2,508 million, an increase of
162.0% year-on-year.
b. Construction Material Sales
In construction material sales, although the shortage of imported wood materials and the surge in their prices,which is called the "wood shock," started calming down, business remained tough as the shortage of domestic
wood materials such as plywood continued, and their highest prices kept being renewed. Nevertheless, new housing
starts for wooden houses had risen year-on-year for the nine straight months until December of last year. Under
these circumstances, we have focused on measures such as maintaining purchase volumes through strengthening
the supply chain and making the prices of received orders reasonable, leading to year-on-year increases in both net
sales and profits. As a result, sales of the construction material sales segment in the consolidated cumulative third
quarter of fiscal 2022 under review increased by 26.5% year-on-year to ¥2,579 million, with a segment profit of¥319 million, an increase of 103.8% year-on-year.
c. Real Estate Leasing
In real estate leasing, more stores were opened in or relocated to the city center in the office building market
in and around Utsunomiya City, which is our main market, leading to a recovery trend in the vacancy rate. The
parking market continues to face a difficult situation although the operation rate in parking lots has started torecover.
Under these circumstances, we endeavored to improve the operation rate of existing assets and reducemanagement costs. Sales increased year-on-year due to a sharp decline in rent reductions and exemptions fortenants, which were relief measures during the Coronavirus (COVID-19) crisis, and acquisitions of new leasing
assets. However, profits decreased mainly due to an increase in the costs of regular renovation of properties forleasing. As a result, sales in the real estate leasing segment in the consolidated cumulative third quarter of fiscal
2022 under review were ¥209 million, an increase of 5.0% year-on-year, with a segment profit of ¥93 million, adecrease of 18.4% year-on-year.
(2) Explanation regarding Financial Position
As of the end of the third quarter of consolidated fiscal 2022 under review, consolidated total assets had risen
to ¥60,008 million, an increase of ¥1,938 million compared to the end of the previous consolidated fiscal year.
This was primarily the result of an increase in inventories due to various factors, such as the acquisition of
housing lots to reflect the expanded area of the real estate sales business, although cash and deposits decreased
mainly thanks to loan repayments.
Liabilities increased to ¥35,467 million, an increase of ¥557 million from the end of the previous
consolidated fiscal year. Total liabilities increased but slightly as we proceeded with repaying loans that we had
increased for the purpose of securing liquidity on hand during the Coronavirus (COVID-19) crisis while we― 3 ―borrowed funds accompanying an increase in inventories. We switched our fund procurement method tofinancing by bonds for part of our loans with the primary goal of promoting the flexible usage of funds.
Total net assets stood at ¥24,541 million as of December 31, 2021. This represents an increase of ¥1,381
million from the balance recorded as of March 31, 2021. This was due to acquiring net income attributable toowners of the parent despite the payment of dividends.
(3) Explanation regarding Future Prospects including Consolidated Financial Forecasts
In regard to the consolidated financial forecasts for fiscal 2022, taking recent business performance into
consideration, the Grandy House Group has revised the consolidated financial forecasts for the full fiscal year,
which were originally announced on August 4, 2021. For additional details, please refer to the "Notice of
Adjustment of the Financial Full-Year Forecast and Dividend Forecast" (Japanese language only), which wasannounced today (February 7, 2022).

― 4 ―2. QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS AND NOTES(1) Quarterly Consolidated Balance Sheets(Thousands of Yen)FY2021(As of March 31, 2021)

Third Quarter of FY2022(As of December 31, 2021)

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable – trade and contract
assetsSecurities
Real estate for sale
Costs on uncompleted construction contracts

13,363,516

10,068,685

496,993743,032

201,921200,192

7,451,307

7,953,706

7,725

5,580

Real estate for sale in process

22,584,961

26,603,973

Merchandise and finished goods

237,434

333,552

Raw materials and supplies

114,678

268,876

Other

920,828

981,946

Allowance for doubtful accounts
Total current assets(2,362)(5,007)45,377,005

47,154,538

3,306,457

3,669,061

29,124

27,216

Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
Tools, furniture and fixtures, net

50,85160,7206,021,604

6,061,045

Leased assets, net

74,39062,038Construction in progress

150,31953,882

9,632,747

9,933,965

1,165,571

1,062,726

67,192

54,9051,232,763

1,117,632

145,500

133,500

Land

Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable

18,99315,708Deferred tax assets

562,494539,908

1,067,323

1,077,005

Other
Allowance for doubtful accounts(4,272)—

Total investments and other assets

1,790,038

1,766,122

12,655,549

12,817,720

Bond issuance costs

38,02536,706

Total deferred assets

38,02536,706

58,070,579

60,008,966

Total non-current assets
Deferred assets

Total assets― 5 ―(Thousands of Yen)FY2021(As of March 31, 2021)

Third Quarter of FY2022(As of December 31, 2021)

Liabilities
Current liabilities
Accounts payable for construction contracts

3,255,232

3,423,319

Short-term loans payable

20,696,600

15,883,100

Current portion of bonds

21,000—1,014,044

2,129,200

Current portion of long-term loans payable
Lease obligations

30,98025,873

Income taxes payable

399,719490,604

Provision for warranties for completed construction

185,503

182,477

Other

955,601

886,015

26,558,680

23,020,590

Bonds payable

2,303,000

2,800,000

Long-term loans payable

4,904,321

8,406,227

Total current liabilities
Non-current liabilities

Lease obligations

50,55942,382

Provision for directors' retirement benefits

218,520

243,370

Net defined benefit liability

810,289

876,924

Other

64,87877,907

8,351,569

12,446,812

34,910,250

35,467,402

Capital stock

2,077,500

2,077,500

Capital surplus

2,343,929

2,450,347

Retained earnings

18,836,131

20,096,797

Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity

Treasury shares
Total shareholders' equity(270,372)(207,901)

22,987,189

24,416,743

20,5008,500

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Total accumulated other comprehensive income
Subscription rights to shares
Total net assets
Total liabilities and net assets― 6 ―20,5008,500

152,640

116,320

23,160,329

24,541,563

58,070,579

60,008,966

(2) Quarterly Consolidated Statements of Income and Comprehensive Income(Quarterly Consolidated Statements of Income)(Consolidated cumulative third quarter)(Thousands of Yen)
Nine months ended
December 31, 2020
(From April 1, 2020 to
December 31, 2020)

Nine months ended
December 31, 2021
(From April 1, 2021 to
December 31, 2021)

Net sales

33,761,249

40,507,662

Cost of sales

27,983,723

32,618,997

Gross profit

5,777,525

7,888,665

Selling, general and administrative expenses

4,419,480

4,819,158

Operating income

1,358,045

3,069,506

1,237

740

Non-operating income
Interest income
Dividends income

5,653

5,611

Office work fee

20,73424,250Other56,586

20,251

Total non-operating income

84,21150,853214,271

178,263

Non-operating expenses
Interest expenses
Commission for syndicate loan

7,474

8,974

Other

10,81019,904

Total non-operating expenses

232,556

207,143

1,209,700

2,913,216

Gain on sales of non-current assets

3,802

18,620Total extraordinary income

3,802

18,620Loss on retirement of non-current assets

11,907

16,124

Loss on cancellation of lease contracts

2,354

358

Ordinary income
Extraordinary income

Extraordinary loss

Total extraordinary loss

14,261

16,482

Net income before income taxes

1,199,240

2,915,354

Income taxes – current

462,358

930,089

Income taxes – deferred(28,263)

22,585

Total income taxes

434,094

952,675

Net income

765,146

1,962,679

Net income attributable to owners of the parent

765,146

1,962,679― 7 ―(Quarterly Consolidated Statements of Comprehensive Income)(Consolidated cumulative third quarter)(Thousands of Yen)
Nine months ended
December 31, 2020
(From April 1, 2020 to
December 31, 2020)
Net income

Nine months ended
December 31, 2021
(From April 1, 2021 to
December 31, 2021)

765,146

1,962,679

Valuation difference on available-for-sale securities(8,500)(12,000)

Total other comprehensive income(8,500)(12,000)

756,646

1,950,679

756,646

1,950,679——

Other comprehensive income

Comprehensive income
Comprehensive income attributable to:Comprehensive income attributable to owners of theparentComprehensive income attributable to non-controllinginterests― 8 ―(3) Notes to Quarterly Consolidated Financial Statements(Notes on Going Concern Assumptions)Not applicable.
(Notes on Significant Changes in the Amount of Shareholders' Equity)
Not applicable.
(Changes in Accounting Policies)(Application of Accounting Standard and Other Standards for Revenue Recognition)
The Grandy House Group has adopted the "Accounting Standard for Revenue Recognition" (ASBJ
Statement No. 29, issued on March 31, 2020; hereinafter, "Revenue Recognition Accounting Standard") andother standards since the beginning of the first quarter of the fiscal year ending March 2022. Accordingly, we
have decided to recognize revenue of the amount that we expect to receive in exchange for promised goods orservices upon the transfer of control over such promised goods or services to the customer. With this change ofaccounting policies being applied retroactively in principle, the quarters of the previous fiscal year and theprevious consolidated fiscal year are presented in the quarterly consolidated financial statements and theconsolidated financial statements after the relevant retroactive application.
As a result, compared to the figures calculated prior to the retroactive application of such policies, net sales
for the cumulative third quarter of the previous consolidated fiscal year increased by ¥92,850 thousand, cost of
sales decreased by ¥164,482 thousand, selling, general and administrative expenses increased by ¥4,838
thousand, operating income increased by ¥252,493 thousand, and ordinary income and quarterly net income
before income taxes decreased by ¥4,838 thousand, respectively. Furthermore, retained earnings at the
beginning of the previous consolidated fiscal year decreased by ¥125,241 thousand as a result of the
cumulative financial impact being reflected in net assets at the beginning of the previous consolidated fiscal
year.
Due to the application of the "Revenue Recognition Accounting Standard" and other standards, "Notes andaccounts receivable – trade," which was presented under "Current assets" in the consolidated balance sheet forthe previous fiscal year, has been included and presented under "Notes and accounts receivable – trade andcontract assets" since the first quarter of fiscal 2022.
(Additional Information)(Changes in Presentation Methods)(Quarterly Consolidated Balance Sheets)
Housing lots for built-for-sale homes that had yet to be completed were included under "Real estate forsale" in the previous consolidated fiscal year, but they have been included and presented under "Real estate
for sale in process" since the first quarter of fiscal year ending March 2022 to enhance the clarity of theconsolidated balance sheet. To reflect this change in our presentation methods, a reclassification of accounts
has been conducted for the consolidated balance sheet of the previous consolidated fiscal year.
As a result, the ¥9,675,070 thousand that was presented under "Real estate for sale" in the consolidatedbalance sheet of the previous consolidated fiscal year has been reclassified into "Real estate for sale inprocess."(Accounting Estimates concerning the Impact of COVID-19)
Note that there has been no significant change to our assumptions concerning the impact of COVID-19 that
we described as additional information in our securities report for fiscal 2021.

― 9 ―(Segment Information)
I. The cumulative nine months ended December 31, 2020 (April 1, 2020 to December 31, 2020)
1. Information concerning the amounts of net sales and profit or loss by reportable segment
Reportable Segment

Net sales
Sales to externalcustomers
Inter-segment sales
or transfers
Total
Segment profit

Adjustments(Note 1)(Thousands of Yen)
AmountRecorded on
Quarterly
Consolidated
Statements ofIncome (Note 2)

Real Estate
Sales

Construction
Material Sales

Real Estate
Leasing

Total

31,521,687

2,040,211

199,350

33,761,249—

33,761,249

41,7602,073,464

60,412

2,175,636(2,175,636)—

31,563,447
957,443

4,113,675
156,827

259,763
115,120

35,936,886
1,229,391(2,175,636)(19,691)

33,761,249
1,209,700

Notes: 1 Adjustments of segment profit (−¥19,691 thousand) are eliminations of inter-segment transactions.
2 Segment profit has been adjusted with ordinary income described in quarterly consolidated statements of income.

2. Information concerning the impairment loss of non-current assets and goodwill by reportable segment
Not applicable.
II.

The cumulative nine months ended December 31, 2021 (April 1, 2021 to December 31, 2021)
1. Information concerning the amounts of net sales and profit or loss by reportable segment
Reportable Segment

Net sales
Sales to externalcustomers
Inter-segment sales
or transfers
Total
Segment profit

Adjustments(Note 1)(Thousands of Yen)
AmountRecorded on
Quarterly
Consolidated
Statements ofIncome (Note 2)

Real Estate
Sales

Construction
Material Sales

Real Estate
Leasing

Total

37,718,493

2,579,884

209,284

40,507,662—

40,507,662

37,5302,888,881

60,923

2,987,334(2,987,334)—

37,756,023
2,508,652

5,468,766
319,668

270,207
93,931

43,494,997
2,922,252(2,987,334)(9,035)40,507,662
2,913,216

Notes: 1 Adjustments of segment profit (−¥9,035 thousand) are eliminations of inter-segment transactions.
2 Segment profit has been adjusted with ordinary income described in quarterly consolidated statements of income.

2. Information concerning the impairment loss of non-current assets and goodwill by reportable segment
Not applicable.
3. Matters concerning changes by reportable segment
As described in "(Changes in Accounting Policies)," the "Accounting Standard for Revenue Recognition"(ASBJ Statement No. 29, issued on March 31, 2020) and other standards have been applied since thebeginning of the first quarter of the fiscal year ending March 2022, and the accounting method concerning
revenue recognition has been changed. Accordingly, the method used to measure income in businesssegments has also been changed.
Segment information for the cumulative third quarter of the previous consolidated fiscal year is created withthe above-stated method.

― 10 ―