Tenpos Holdings Co., Ltd.

Second Quarter of the Fiscal YearEnding April 30, 2024
Company Briefing Materials
Tenpos is the SDGs itself.
Standard Market (Securities Code 2751)
Created by Chinatsu Otomaru
Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved1Results and Forecasts for the Second Quarter of the Fiscal Year Ending April 30, 2024

Consolidated Financial Results for the Second Quarter of the Fiscal Year Ending April 30, 2024
Year ending April 30,
2023
Second Quarter

Fiscal year ending
April 2024
Second Quarter

Forecast YoY

Sales

15,161 million yen

17,144 million yen

113.1% (in million
yen)Gross profit

1,079 million yen

1,404 million yen

130.1%

Ordinary income

1,112 million yen

1,531 million yen

137.7%

Attributable to: Shareholders of theparent company
Net income

706 million yen

979 million yen

138.5% (in million
yen)（unit:million yen）

（unit:million yen）

（unit:million yen）

Operating income

2nd Quarter Sales

1,404
15,21512,80913,997

15,161

17,144

1,222

Ordinary income
1,531

1,487

1,401

1,079

1,112

754
405

313

2020.4 2021.4 2022.4 2023.4 2024.4
2Q

2Q

2Q

2Q

2Q

2020.4 2021.4 2022.4 2023.4 2024.4
2Q

2Q

2Q

2Q

2020.4 2021.4 2022.4 2023.4 2024.4

2Q

Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved

2Q

2Q

2Q

2Q

2Q

2

Results by segment for the second quarter of the fiscal year ending April 30, 2024
subject

sale of goods(as opposed to services)Year ending April30,
2024
Second Quarter

Year ending April 30, 2023
Second Quarter

Forecast YoY

Net sales

10,731 million yen

12,010 million yen

111.9%

Operating income

1,119 million yen

1,292 million yen

115.5% (in million yen)

Net sales

1,983 million yen

2,038 million yen

102.8%

Operating income

114 million yen

101 million yen

88.7%

Net sales

2,899 million yen

3,477 million yen(2) Net sales (Millions ofyen)

68 million yen

Information and services business

Food and Beverage
Operating income

119.9% (in million yen) (1) *returning to profit① The full-year forecast for the Food & Beverage business reflects only 10 months for Asakuma due to a change in its fiscal year-end.
② Ltd., the main operating company in the food and beverage business, posted operating income of 121 million yen, while the segment
income of the food and beverage business was 68 million yen, mainly due to the use of shareholder gift certificates.
（unit:million yen）

2Q Sales by Segment
14.3billion

15.6billion

2Q Profit Trends by Segment
17.5billion

1,500

20,00016,0001,000

12,000

500

8,000
4,000

0

0

(500)

eating anddrinking
information
service2022.42023.42024.4

2Q

2Q

2Q

2,379

2,899

3,477

1,620

1,983

2,038

(as opposed to

790 million 11.4億

eating anddrinking
information
service

14.6億

10,364

10,731

12,010(as opposed tounkempt hair
ASAKUMA Succession
Dream Dining
Information & Services
Studio Tenposs
Tenposs Information Center

2022.42023.42024.4

2Q

2Q

2Q

▲ 392

▲ 91

68

12

114

101

1,174

1,119

1,292

sale of goods

sale of goods
services)

eating and drinking
The ASAKUMA Group（unit:million yen）

services)

Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved

Tenpos Financial Trust

Profit Laboratory
Dees Park
Tenposs Food Placesale of goods (as opposed to services)
Tenposs Holdings Co.
Tenposs Busters
Kitchen Techno
Tenposs.com
West Kitchen Machine3

(Non-consolidated) Tenpos Busters: Results for the six months ended April 30, 2024
Focused on real estate referrals and interior construction proposals in order to increase overall orders
from single product sales.

▼ New store openings
June 2023 (1Q)

Aug. 2023 (2Q)

Nov. 2023 (3Q)

Suzuka Store (Suzuka City, Mie
Prefecture)

Kawagoe Store (Kawagoe City,
Saitama Prefecture)

Nara Branch (Isobe-gun, Nara
Pref.)▼ Tenpos Busters Q2 FY4/2024 Results
Year ending April 30,
2023
Second Quarter

Fiscal year ending
April 2024
Second Quarter

Fiscal year ending
April 2024
Full Year Forecast

YoY change

Forecast YoY

Net sales

8,319 million yen

9,247 million yen

111.2%

19,000114.4% (1)Operating income

1,033 million yen

1,233 million yen

119.4%

2,485

118.9%

Forecasts are non-consolidated figures before consolidation adjustments.
（unit:million yen）

（unit:million yen）

(Non-consolidated) Tenpos Busters
Sales
6,695

7,940

8,319

(Non-consolidated) Tenpos Busters
Operating income

9,247

6,394

741

766

975

1,033

1,233

2020.42021.42022.42023.42024.42020.42021.42022.42023.42024.4

2Q

2Q

2Q

2Q

2Q

2Q

2Q

2Q

2Q

2Q

Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved4Results by operating company for the second quarter of the fiscal year ending April 30, 2024
■2Q Results and Full-Year Forecasts for the Fiscal Year Ending April 30, 2024 (Unit: Millions of yen)Segment

sale ofgoods (asopposedtoservices)the present full business
term
year
2Q Results forecast

business

Company Name

kitchenover-the-counter
sales

Tenpos Busters

kitchenonline shopping

Tenpos.com

kitchendirect sales

kitchen technointerior work

Studio Tenposs

POS Sales

informationServiceeatinganddrinking

Funds & Real Estate

subject

Tenposrary staffing
and placement

D-SPark

attracting
customers via theWeb

Tenpos Food Placesteak house

Azuma Group(Projections are for 10 months)

seafood bowl
restaurantDream Dining

kaiten-zushi

Yamato(Forecast is for 6 months)

YoY change

Fiscal year ending
April 2024
Full Year Forecast

Forecast YoY

8,319

9,247

111.2%

19,000114.4%

Operating income

1033

1,233

119.4%

2,485

118.9%

Sales

1,257

1,562

124.3%

3,340

127.2%

22▲6

turning a deficit

40

returning to profit

1,434

1,469

102.4%

3,400

113.4%

Operating income

83

76

91.0%

238

133.9%

Sales

430

513

119.1%

1,012

121.5%

Operating income

1216

128.7%

48

172.3%

Sales

487

460

94.4%

1,500

149.8%
124.9% (in thesame period of theprevious year)

Sales

Operating income
Sales

Tenpos Information Center

Tenpos Financial TrustYear ending
April 30, Fiscal year ending
2023
April 2024
SecondSecond Quarter
Quarter

Forecasts are non-consolidated figures before consolidation
adjustments.

Operating income

60

25

42.1%

150

Sales

424

288

67.8

402

Operating income

2641

156.0%

49

Accounting
standards
change

Sales

516

672

130.2%

1,500

123.3%

Operating income

14

16

117.6% (in %)76

138.9%

Sales

88

95

108.7% (in %)220

120.2%

Operating income

03494.0% (1)▲5Deficit due toinvestment

Sales

2,935

3,512

119.7% (in %)6,096

Operating income

▲29

121

Sales

76

77

Operating income

▲8

0

Sales

incomeCopyright@2023 TenposOperating
Holdings
Co.,Ltd All right reserved

returning to
profit100.7%(100.7%)
returning to
profit174

Forecast for 10
months due toscheduled change
in fiscal year end

153

96.4%

1

returning to profit

3,600

Six-month forecast
from October throughthe end of March240

5Full Year Results•Ltd., a consolidated subsidiary, is only accounted for 10 months in the current fiscal
year due to a change in its fiscal year-end (from the end of March to the end of January).
Yamato recorded six months from October to March.

September 27, 2023 Upward Revision Announced•
Consolidated Financial Results and Forecasts for the Current Fiscal Year(Consolidated) Sales

Forecast(Consolidated) Operating income

Forecast

2.93

38.6

30.1

29.1

billionbillionbillion31.2
29 billion
27 billion

billion1.95
billion

1.72

1.87

billionbillion980

2.22

billionbillionmillion2019.42020.42021.42022.42023.42024.42019.42020.42021.42022.42023.4(今期予想）(今期予想）(Consolidated) Ordinary income

Forecast(Consolidated) Operating income

2.91

2.09
billionbillion1.90
billion

1.44

1.56

2.31 3.0 billion
billionbillion2024.4billion

1.01

960

billionmillion

Forecast

1.76
1.42

billionbillion190
million2019.42020.42021.42022.42023.42024.42019.42020.42021.4(今期予想）

Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved

2022.42023.42024.4(今期予想）

6

Dr. Tenpos Progress
Restaurant survival rate after 5 years from 45% to 90%

Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved7What is Dr. Tenpos?
Tenposs Busters plays the role of diagnostician and primary physician, and eachgroup company plays the role of specialist physician, providing comprehensive
support for restaurant management.
Diagnostician]Medical interview
Tenpos Busters[Attending
physician]MedicalcheckupCheck sales, gross profit, profit, labor costs,
etc., to ascertain the condition of the store.

Provide customized management support to clients basedon the content of the medical interview.

①②③

Tenpos Busters④

Assistance in attracting customers Couponsite listing
Customer attraction support Website
creation
Customer attraction support SNS
management agency
Free POP and menu tags

Specialist] Treatment

produceTenpos Busters

profit laboratory
D-S Park / Tenpos Johokan

Support for business development,
establishment of franchiseheadquarters, M&A, etc. for managers
aiming to create even more profitable
stores or to expand into multiple stores.

Provide remedial measures such as
customer attraction, promotion, andeducation to patients (restaurants) ata stage where they will close if nottreated immediately.

Connect customers to the appropriate specialist or
producer for their concerns

Euthanasia Course
Tenpos Financial Trust
Used Equipment Division / D-S Park

Closing a business rather than forcing it tocontinue to operate.
may reduce losses. After closing
Provide support for employees, stores, andmoney.

Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved

8Dr. Tenpos's group of specialists
Tenpos Group united to tackle "Dr. Tenpos（Tenpos Busters Co. 57 directly managed stores, 9 franchise stores, 12 purchase centers, 2 distribution centers⚫Analysis and improvement of the current state of signage and facades⚫Pre-opening and post-opening sales promotion and customer attraction⚫Human Resource Education (Food and Beverage Dojo)⚫Supplier development, recipe development, cost control,

labor cost ratio management（Tenposs Food Place Co.
⚫Support for attracting customers via the Web ●Introduction of service equipment necessary for opening andmanaging businesses ●Business development of Dr. Tenpos services（Tenposs Financial Trust Co.
⚫Leasing/credit ●Subsidy applications on behalf of clients⚫Introduction of the property（Studio Tenposs Co.
⚫Interior design, design and construction⚫Signboard Construction（Profit Laboratory Co.
⚫Corporate Banquet Acquisition "Full Fax" ●Delivery Consulting（Tenposs Johokan Co.
⚫Sales and maintenance of POS cash registers（D-Spark Co.

⚫Planning and proposal of point cards and other sales
promotions⚫Tenposrary staffing ● Recruiting ● Job advertisement ● Contracting

Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved

9Closing Doctor / New Store Producer
Closing doctor (does not pull up kitchen equipment after purchase)
Buy kitchen equipment from a restaurant that is closing, negotiate with the landlord to leave theequipment in place. Find someone who wants to open a restaurant next and introduce them to thelandlord. After signing a property contract, sell the kitchen equipment to the next tenant (and repair

any equipment that needs maintenance). Kitchen equipment that the new tenant does not need ispulled up, repaired and reconditioned, and sold at the Tenposs storefront.

The work of the closing
doctor(2) Negotiate remaining kitchen equipment

1) Buy kitchen equipment(3) Remaining OK
Restaurants to close
Below is the work of an open doctor(7) Kitchen equipment proposal
8) Interior construction proposal(9) Furniture proposal(10) Support for attracting customers(11) Menu proposal(4) Property Introduction(6) Sales of kitchen equipment(7) - are listed on the left

landlord(5) Property Contract

Restaurants to be opened

New Store Producer
When a restaurant opening in a vacant property makes a request to us for the purchase of unnecessary kitchenequipment remaining in the property, our purchasing staff not only purchases the equipment but also proposessales promotion services, etc. necessary for the new restaurant, and conducts sales activities that lead to an
overall order.
Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved10Dr. Tenpos End-of-Life Care
Closing a business may reduce losses rather than forcing the business to continue to operate. The
company provides support for employees, stores, and money after a restaurant transfers its
business or closes. The customer contact (order taking) is handled by the "Purchasing
Department" of the Used Business Division of Tenposs Busters, while the practical work ofsupport for closing a restaurant is handled by the "Doctor".

effortearnings target

Store Sales

Sale price after rehabilitation 20 million yen to 30

Sold stores with improved management

million yenchange of business conditions

Earn revenue from franchise referral fees and from

Propose a business type that fits the location → Rebuild with a different business typesupporting franchisees in opening franchisees'

Rebuild as a member of a thriving franchise.

businesses.

Stock and business transfers

commission on sales

Sold by company and employees

Small scale - approx. 3 million yen x 30 projects = 90

Sold with the store and employees separated.

million yen
Large scale - approx. 10 million yen x 5 projects = 50
million yen

stopping businessplacement

Loan settlement negotiations, landlord negotiations, property introductions, staffing

For 10-15 referrals per year
If you are a manager with an annual income of 4 million yen... (25% of annual income is commission)

introductions, Tenposrary staffing registration

Commission 1 million yen x 15 persons = 15 million yen→Ltd. for job transition support for employees.
→Studio TenposS Co., Ltd. for skeleton construction of the property.
→Tempus Financial Trust Co.
system of self-support
Independence of employees who reapply after 3-5 years with the

ASAKUMA Group.

● [Prepare 3 million yen of own funds + 20 million yen prepared by the company].

Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved

11

Published August 1,
2023[NEW] Tenpos Star

Tenpos Star, a food and beverage media rating 100,000 B-class gourmet restaurants
for visitors to Japan

Tenpos will operate B-to-C media to send customers (consumers) torestaurants and help them increase sales.

Tenpos Star

Number of registered
stores: 2,392
9,855 stores*As of October 31, 2023

■Future measures⚫
Disseminating information on the theme of "food x tourism" for visitors toJapan⚫
Planning and execution of events for visitors to Japan that are difficult forsmall-scale restaurants to implement (e.g., udon noodle making experience,sake tasting experience)

Support for Tenposs Star member restaurants to attract inbound customers⇒ We will be the "doctor" and support restaurants
Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved

12[NEW] Rating Diagnostician
Rating Diagnostician, a petit professional group for checking the quality, service, andcleanliness of restaurants.

Rating diagnosticians will diagnose and rate restaurants from the perspective of quality, service,
and cleanliness (QSC), and work together to resolve management issues discovered during the
I'm still embarrassed to call myself a professional.
diagnosis.
Petit Pro.

238 rating diagnosticians diagnosed 176 stores.
*As of October 31, 2023

Flow of Rating
Diagnosis
1) Perform QSC diagnosis of member stores of the web media "Tenposs Star".

(2) Place the results of therestaurant's diagnosis in the
Tenpos Star.
Increasing User Satisfaction with Store Selection(2) Based on the results of therestaurant's diagnosis
Working to improve management

Still lack of skillsof ratingdiagnosticians!
Work on humanresource
development!

Long-term vision
Create a situation where "rating
diagnosticians," human resources capable ofsupporting restaurant management, aresupporting the management of many
restaurants across the country.

Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved

13NEW] TCC (Tenposs Company Cafeteria)
TCC (Tenpos Company Cafeteria)

Small and medium-sized restaurants into employee cafeterias
for neighboring companies!
【Point】There are many small and medium-sized restaurants registered, not large restaurants!

Company cafeteria ticket
7,000 yen per ticket
The employee pays 3,500
yen. The remaining¥3,500 is paid by thecompany. The company
records the amount as abenefit.

corporate enterprise
Employee Benefits

restaurant
increase in sales

TenposConnecting companies andrestaurants(14% commission)

Service Area
September 2023 【Tokyo】 Start of Kamata area

November 2023 [Tokyo] Omori/Ryogoku/Kinshicho [Kanagawa] Kawasaki /Tsurumi / Chinatown / Kannai / Shin-Yokohama

Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved

14

Tenpos Busters
Performance and Growth Strategy
Aiming to double the number of new stores to 120

Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved

15

(Non-Consolidated) Tenpos Busters: Results for the first half of the fiscal year

■Tenpos Busters Co., Ltd

Forecasts are non-consolidated figures before
consolidation adjustments.

Year ending April 30,
2023
2Q Actual

Year ending April 30,
2024
2Q Actual

Year ending April
2024
Full Year Forecast

Sales

8,319 million yen

9,247 million yen

111.2% (in %)19,000114.4%

Operating income

1,033 million yen

1,233 million yen

119.4% (1)2,485118.9%

YoY change

Forecast YoY

Largest used kitchen equipment sales
company in Japan.
over-the-counter sales(Tenposs Busters Co.

online shopping(Tenposs.com Inc.

direct sales
Kitchen Techno Co.

sale of goods (asopposed toservices)
Annual sales forthe current term
25.7 billion*Figures before adjustment➢ Annual sales 19 billion +3.3 billion +3.4
billion➢ 66 stores nationwide (as of 2023) → 120 stores
strategy➢ 630,000 customer visits per year
➢ 320,000 members➢ No. 1 in sales in the used kitchen industry(1 strong, less than 100)➢ Established in 1997
➢ Listed on JASDAQ 2002
Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved

16

New store openings Number of customers/per customer/sales
The company is focused on increasing sales for new store opening customers. The challenge is to increase the unit
price per customer. While the budget for a restaurant when opening an izakaya is 4.7 million yen, the unit price per
customer for a Tenposs new store opening customer is only 270,000 yen. The company will raise this to 2 million yen
in the future.
〈millions of yen〉

〈people〉
Q2 New store openings Number of〈millions of yen〉

customers
13,536
11,9599,834

2020.4
2Q

3,078

12,699
2,549

9,610

2021.42Q

Q2 New store openings per customer

2Q New store opening sales
3,257

272,037

3,452

257,506
258,700
243,464
240,446
200,105

2,372

145,000

2022.42Q

2023.42Q

2024.42Q

2020.42Q

2021.42Q

2022.42Q

2023.42Q

2018年 2019.4 2020.4 2021.4 2022.4 2023.4 2024.4
2Q
2Q
2Q
2Q
2Q
2Q
1月時点

2024.4
2Q▼ Full Year Ended April 2023 Tenpos Busters Number of Customers and Sales Ratio of New Store Openings
Year ending April 30,
2023
Full Year Results

Composition of visitors(635,176 per year)

Sales composition ratio(Annual sales: 16.6 billion yen)

New store opening
customer

4% (26, 053 persons)

38.4% (6.3 billion yen)existing customer

96% (609,123)

61.6% (10.2 billion yen)

Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved

important17

Three measures to increase customer spend for new store opening customers
New store openings Customer spend per customer Q2 272,037 yen (113.1% y/y)[Assignment].
Over the past few years, the price per customer has remained flat, but it has gradually increased!
New initiatives for this fiscal year
Start sales activities for real estate referrals and interior design work from January 2023. The
company aims to increase the sales per customer by capturing new store opening customers
from the early stage of preparation for the opening of a new store and by obtaining
comprehensive orders.

Increase customer spend with new store customers throughthe following three sales measures

Properties

interior work
Prime contractingorder(3 million yen per
case)

Kitchen / Tableware /Furniture / Equipment
One set ofcomprehensive orders(3 million yen per case)

The company calculates that it will receive a total of 6 million yen from customers opening new stores:
3 million yen per customer for interior work orders and 3 million yen for general orders, but since thisis not the case, the first goal is to increase the unit price per customer from 270,000 yen to 2
million yen.
Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved

18Growth strategy Aiming to increase the customer spend Property
referrals and interior design work
Tenpos up to now.
The restaurant came to Tenposs Busters after the interior construction was decided.
However, it is too late to propose a complete set of kitchen equipment from thisstage. In many cases, other companies have already decided. As a result, the priceper customer does not go up.
Tenpos customer service begins.

Property
Searchinterior
work

kitchenappliances

open

Tenpos now.
Propose property referrals and interior work to attract customers from the early stagesof opening a restaurant and increase orders for complete kitchen equipment. By taking
orders for interior work as well, the company will further boost sales per customer.

Started serving customers from *Tenpos fundraising support.
fundraisingbusiness plan

Property
Search
Accompanying
a visitor on a
private viewing

interior
work
Store Building Advice

kitchenappliances

open

Kitchen proposal
started

Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved

19Growth strategy Increase in customer spend Property referrals
Obtain information on properties to be withdrawn from restaurants that are closing andprovide the information to restaurants planning to open new restaurants. After
introducing the properties, the company will propose interior construction work and link
this to sales activities for a complete set of kitchen equipment.

Property
Sources⚫ Restaurants to be closed (Tenpos buyers collect withdrawn properties)⚫ Real estate agents in each region (sales representatives at Tenpos storesapproach real estate agents to gather information)

matching
New restaurant opening
applicants (restaurants)

Gather prospective new store openers from among customers who visit Tenposs
Busters. Make a list and provide property information in person, by phone, or bye-mail.
Acquisition status and goals for property applicants⚫ 4,361 acquired between January and October 2023
⚫ Target to reach 10,000 by the end of December 2023

Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved20Outsourcing
The real estate referral business will lead to the "Tenposs Revitalization Fund," which will generate tens of billions of yen in profits.
▼ Sales from outsourced stores

We get 30 stores a monththat are closing due to lack ofsuccessors.

Managers andowners ofclosedrestaurants

Work as a subcontractor ina restaurant rented by
Tenpos.

Monthly sales 3.6 million yen x 12
months x 360 stores = 15.5 billion yen(30 stores x 12 months)

Outsourcing as is▼ Excellent people over here!
Sends personnel trained inoutsourcing to restaurantsthat Tenposs merged withor acquired.

Changing Jobs
Placement and Recruiting Business
200-300 people permonth.
Provide manager
introductions anddispatch.

Save your money.
Independent Business(Graduation)

Combined with Tenpos
restaurant business▼ New ways to earn moneywith Tenposs

Rehabilitate the company.
Sold to.
100 restaurant chains.
Bought for $4 billion
and sold for $10 billion＝Gain on sale = 6billion yen

It would be a waste to let the real estate referral business end as a mere referral business. If good
properties are found while collecting properties, Tenposs will lease the properties and operate themon an outsourced basis.
Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved21

Employee training Increase customer spend & train "doctors".
The 250 employees, including part-time employees, will receive 240 hours ofpractical training per year, five hours per week. The curriculum is changed on acase-by-case basis to improve the level of training.
Restaurant management support"Doctor Service
Toward increasing the customer base.

Kitchen design and layout
training
Toward increasing the customer base.

Real Estate Training

Toward increasing the customer base.

Prospective follow-up training
To increase the number of contracts andclosing rate

Sales closing talk training

Acquisition of withdrawn properties &.
Toward increasing sales per customer

Purchase Sales Training

Training to be able to draw out customer issues and propose doctor
services from the perspective of attracting customers and efficientmanagement.
Knowledge and skills in "kitchen layout" are essential to obtain acomplete set of kitchen equipment. The goal is to be able to obtaincomprehensive orders.
Participants will learn the knowledge up to the property contract,sales talk for property introduction, and sales talk to real estateagents. During the training time, actual sales calls to real estatecompanies will also be practiced.
Focusing on increasing customer spend, learn how to manage andcontrol the prospects of your subordinates.
Specialized training in closing talks to increase the number and rateof closings of prospective clients.
Learn the proposal talk for the sale of vacant properties torestaurants that are closing, and learn how to acquire property
information through practice.
When receiving a request from a customer opening a newrestaurant to purchase unwanted kitchen equipment, learn a seriesof sales talks from introducing doctor services to receiving acomprehensive order.

Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved22Growth Strategy National Maintenance Network Strategy
National Maintenance Network Strategy
Tenpos's Strengths
From chillers to thermal equipment, we can repair and rebuild any manufacturer.
Other companies repair only their own products. Also, many repairs are outsourced.

National Maintenance Network Strategy⚫ Open repair and restoration centers in areas of shortage from the current 12 nationwide.
⚫ In addition to repair services, the company will also propose equipment replacements and increase
sales of goods.
→In addition , we also provide information and take orders for doctor services.
⚫ Establish a post-purchase maintenance plan and a 365-day, 24-hour repair system⚫ Deploy 2,400 maintenance personnel nationwide to repair and rehabilitate

Most recent and current initiatives⚫ Maintenance staff: 3 last year → 20 now (not enough people! We are recruiting now!)⚫ Maintenance operations in Tokyo, Hokkaido, Nagoya, Osaka, Hiroshima, Fukuoka, and Kumamoto⚫ During maintenance visits, the company will obtain replacement demand, obtain information on store
openings, and propose doctor services. Acting as a "Dr. Mente" rather than merely repairing
Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved

23

Growth Strategy Opening of Tenpos Busters stores

Kawaguchi Kitchen Equipment
Specialty Store

Kawaguchi Tableware and Cooking Utensils
Specialty Store

Kawaguchi Chair and Table Specialty Center

From 66 to 120 stores in 5 years, including M&A
To dominate the used kitchen industry nationwide by acquiring or forming capital andbusiness alliances with used kitchen competitors nationwide.

FY2023 Store
Openings

Store opening
policy also on track

March: Tenposs Gifu (Gifu Prefecture) ⇒ Turned profitable thefollowing monthJune: Tenposs Suzuka (Mie Prefecture) ⇒ Turned profitable thefollowing month
August: Tenposs Kawagoe (Saitama Prefecture) ⇒ Turned
profitable the following month
November: Tenposs Nara (Nara Pref.) ⇒Expected to be profitable inthe monthPlans to open 10 stores in FY2023
Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved

24<Store Information Wanted>Tenpos Busters Property
Plans to open 10 to 15 stores per year!
From 66 to 120 commercial kitchen equipment dealers
Urban Store

suburban store

Building area of 250 tsubo or more, no parking spacerequired, multi-level floors permitted

Building area of 350 tsubo or more, parking space for
5 cars or more

Recruitment area
Hokkaido(northernmost of
the four mainislands of Japan)
Tohoku(northernmost six
prefectures ofHonshu)Kantou (eastern
half of Japan,
including Tokyo)

Hokkaido (northernmost of
the four main islands ofAsahikawa City, Obihiro City
Japan)
Aomori prefecture (Tohoku
area)
Akita prefecture (Tohoku
area)
Fukushima prefecture(Tohoku area)
Ibaraki prefecture (Kantou
area)
Chiba prefecture (Kantou
area)Tokyo Metropolitan area

Aomori City, Hachinohe City
Akita City
Iwaki City

North Kanto, Koshin
East Sea (controversial
name for the Sea ofJapan proposed by
Korea)
Kinki (region around
Osaka, Kyoto, Nara)

Tsukuba City
Ichikawa City, Ichihara City
Shimbashi, Kinshicho (Kameido), Ikebukuro,
Shibuya, Ogikubo, Matsugaya in Taito Ward
(Kappabashi Tool Street), Ebisu - Gotanda,
Shinagawa - Oimachi, Nakano, Nippori - Oji

Chugoku/Shikoku

Yamanashi prefecture (Chuubu area) Kofu City
Nagano prefecture (Chuubu area)

Matsumoto City

Shizuoka prefecture (Chuubu area) Numazu City
Mie prefecture (Kinki area)

Yokkaichi City

Shiga prefecture (Kinki area)

Otsu City

Osaka (metropolitan area)

Sakai City

Shimane prefecture (Chuugoku
area)
Yamaguchi prefecture (Chuugoku
area)

Matsue City
Shimonoseki City

Kouchi (Kochi) prefecture (Shikoku) Kochi City
Kyushu (southernmostof the four main islandsof Japan)

Oita prefecture (Kyushu)
Miyazaki prefecture (Kyushu)

Oita City
Miyazaki City

Kanagawa prefecture (Kantou
Yokosuka City, Yokohama City, Fujisawa City
area)

Property Information ▶ Tenpos
Busters Tenpos
Store Development
Copyright@2023
Holdings Co.,LtdSection
All right Nakano
reserved TEL：03-3736-0319

25

Expansion of used equipment purchase business
Purchasing at in-house auctions

Establishment of a bulk purchase site("auctioning" kitchen equipment purchases)

Products purchased by the purchasing division (purchasing
center) will be auctioned daily for in-house stores and shippedto the stores that bid on them. The stores will be able toengage in proactive store management, as store managers
can decide the price and quantity to be purchased at theirown discretion. On the other hand, the purchasing manager
will be able to purchase at a reasonable price in order to raise
the bidding price of the auction. (Remember the market price)

Began purchasing large lots of food,beverages, consumables, etc.

Work to increase the number of purchase requests via the Internet

Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved

26Become a platformer specializing in used kitchen equipment.
Used Kitchen Hall of Fame
Project Begins
Post used kitchen products from recycle stores
Nationwide on Tenpos.com’s commercial kitchen site

2 companies
Listed 30

Details

Other Companies

20000
In-house used
items
The "Used Hall of Fame" site will befree of listing fees and sales fees for
one year after opening. During thistime, we will develop used kitchen
recycling stores across the country
that will list our products on the Used
Hall of Fame.

Total 20,000 usedproducts listed

track record

Target43 companies
listed3,936 points

100 companies
Listed 5000
Details

Other Companies

20000
In-house used
items
Total 23,000 usedproducts listed

Details

Other Companies

22000
In-house used
items

Total 27,000 used products listed
The reason for the small number of items listed (5,000 used items
compared to 100 listed companies) is that the majority of the recyclers aresole proprietorships.

Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved

27

Business Performance by
Operating Company

Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved28Internet sales (product sales business)■Tenpos.com Inc.

Forecasts are non-consolidated figures before
consolidation adjustments.

(Millions of yen)(school) subject

Year ending April
30, 2023
Second Quarter

Net sales
Operating income

Fiscal year ending
April 2024
Second QuarterYoY change

Fiscal year ending
April 2024
Full Year Forecast

Forecast YoY

1,257

1,562

124.3% (in %)3,340

127.2% (inJapan)

22▲6

turning a deficit

40

returning to profit

Point
Sales of new kitchen appliances were strong at 124.8% yoy.
Operating income was in the red due to an increase in SG&A expenses of 120.9% y/y due to investment in humanresources. In line with its policy of supporting restaurants by providing information and services in addition to
product sales, the company is allocating human resources mainly to the information and services field.

Provide information and services related to opening and managing restaurants to attract new customers.
Accepted employees seconded to Gurunavi to launch a series of websites related to the opening ofrestaurants.
July 2023 Open to the public
Tenpos.com
Japan's largest kitchen appliance shopping site
Tenpos Property Search
Tenpos Food MediaMedia supporting restaurants
Number of visitors 110,000 per month(152.9% of access in the same period of theprevious year)
I want to find a property.

Opening Support Map(140.5% of access in the same period of the previous year)

I want to know more
about opening a pub.
I want to know how to open a business.

Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved29Direct sales (product sales business)■Kitchen Techno Co.

Forecasts are non-consolidated figures before
consolidation adjustments.

(Millions of yen)

Fiscal year
ending April2024
3rd Quarter

Year ending
March 31, 2024
Full Year
Forecast

Forecast YoY

Subject

Year ending April
30, 2023
3rd Quarter

Net sales

1,434

1,469

102.4%

3,400

113.4%

83

76

91.0%

238

133.9%

Operating income

YoY change

Reasons for revenue increase
Kitchen equipment sales strong due to recovery in new store openings by major chain
stores
Deliveries of the original "pressure skimmer" product were strong, at 180.0% y/y.
Reason for decrease in profit
Investments in human resources increased SG&A expenses, putting pressure on profits.
New developments in the second quarter
Implemented Operation Carbon Neutral. Proposal to promote electrification at 35
company cafeterias nationwide.
Information on store openings, store closings, and new businesses
Held noodle schools in Tokyo and Osaka for those who plan to open ramen stores tolearn soup and noodle making.
Promoting original products such as noodle-making machines and pressure skidboards
Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved30Tenposrary staffing, placement and contracting services (information and services business)■D-spark Corporation
Forecasts are non-consolidated figures before
consolidation adjustments.

(Millions of yen)
Subject

Year ending March Year ending March
31, 2023
31, 2024
Second Quarter
Second QuarterYoY changeYear ending March
31, 2024
Full Year Forecast

Forecast YoY

Sales

516

672

130.2%

1,500

123.3%

Operating income

14

16

117.6%

76

138.9%

Main Existing Businesses
Tenposrary staffing business (128.7% of net sales YoY)
A moderate recovery in personal consumption led to an increase in job offers, especially in the lodging and restaurant industries, which
are major Tenposrary staffing destinations, and sales increased. However, investment in human resources for business expansion caused
SG&A expenses to rise to 135.2%, putting pressure on profits. Now is the time for patience.
Outsourced delivery contracting business (136.2% of net sales YoY)
Increased revenue due to the expansion of distribution business locations. Highly profitable business with an operating marginof 32% drives overall operating income. Leased warehouse and office space at Tenposs Miyoshi used baking
machinery specialty store to start general cargo transportation business.
new business
Foreign worker dispatch and placement business
Collaborate with foreign sending agencies (15 companies) to introduce foreign personnel from Vietnam andMyanmar. Among recruitment agencies for specific skills, there are few companies that specialize in the food service
industry. The Tenposs Group's strength is its ability to introduce and dispatch personnel to restaurants throughout
Japan by utilizing its customer network. In addition, as a company certified as a registered support organization, thecompany will supply foreigners to Tenposs Group's "Steak no Asakuma" and "Conveyor-belt Sushi Yamato" to build
up its know-how.
Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved

31

Steak no Asakuma (restaurant business)■Asakuma Corporation (Consolidated)
Forecasts are non-consolidated figures before
consolidation adjustments.

(Millions of yen)

Subject

Year ending January Year ending January
31, 2023
31, 2024
Second Quarter
Second QuarterYoY changeYear ending January
31, 2024
Full Year Forecast

Net sales

2,935

3,512

119.7% (in %)6,096

Operating income

▲29

121

returning to profit

174

Forecast YoY

Decrease in sales
forecast due toscheduled change
in fiscal year end

The first store opening in three fiscal years/(Reference) November 2023 (3Q) Opening of Steak no Asakuma Seki (Gifu Prefecture)
Feb. 2024 (next fiscal year) Opening of Steak no Asakuma
Kasugai (Aichi Prefecture) scheduled

Second Quarter Measures
Surprise your customers and increase customer satisfaction, even at a cost.
Salad bar from 25 to 45 items. Dessert bar and hot bar also strengthened assortment.
Collaborated with Yamato, a new group company, to sell lobsters, which were a sellout hit.
The summer fair menu brings back the famous "Asparagus Steak".
The autumn fair menu features "sauces to eat," including steaks with Kinzanji miso and red winesauce and thigh steak with mushroom duxelles sauce.
⚫ Provide training to improve cooking techniques⚫ Training for hall staff with the goals of "never keeping customers waiting" and "never making
customers dissatisfied⚫
⚫
⚫
⚫

Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved

32

The Challenge of Steak Restaurant Asakuma
Restarting the azuma that makes you cry

Providing excitement through foodAiming to be an entertainment restaurant
The restaurant will create a total experience for customers to express their gratitude to their family and friends through theexperience. The "kids' experience," "surprise performance," and "self-serve steak" will be implemented as the mechanisms
for this.

Kids Experience

Surprise production

self-steak

Creating an "Asakuma" store with 670,000 members of the Asakuma App＜ Cantares Management: Eliminate the boundary between the store and thecustomer.

Culinary Planner

Customers : You can take advantage of your special skills and challenge yourself to
new jobs. Lifestyle.Freedom to choose working hours to suit your needs.
Store: Received opinions from core fans, called "Asakuma app members," andincorporated them into store operations.make use of

Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved

33

Yamato Corporation
September 27, 2023 Yamato Corporation Stock transfer
Yamato's Restaurant Management Know-how to Dr. Tenpos BusinessYamato's Strengths
Purchasing and wholesale sales of fish

Yamato FY May 2023: annual sales 6.8 billion yen,profit 350 million yen• Purchases live fish with buying rights and sells to wholesalers
at the market• Also purchases tuna and fresh fish as a middle wholesaler

tourism businessBoso no Eki Tomiura
Outside dining, souvenirs, and beach baking in a vastarea
Operates cafes, etc.

Retail Business4 fresh fish/take-out sushi restaurants
Operation of two take-out sushi restaurants

restaurant industry
Kaitenzushi Yamato
11 conveyor-belt sushi restaurants mainly in Chiba
Prefecture
Operates two seafood taverns

Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved

34

Yamato Corporation New store opening

Annual sales budget 200 million yen

Yamato Corporation New store opening in
September 2023
Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved35

Reference data

Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved36

I didn't notice!

Tenpos is the SDGs itself① Tenpos's recycling business is an SDG itself② The company's main policy is to support small restaurants, 50% of
which close within 3 years, to survive 90% of them within 5
years.

③ One of the 17 goals of the SDGs is to "eliminate poverty," andTenposs has a three-year plan to increase employee wages by 50%.
And we will eliminate hunger and poverty among poor employees.
④ Eliminate the mandatory retirement age, and the elderly ratio is31%. Provide a place to work for old people who want to work at
any age.
Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved37Tenpos's visionTenpos's visionsocial value

economic value

Providing hardware and software to
the restaurant industry
Become an unshakable company

Market capitalization 100 billion
yen
Sales 100 billion yen

By achieving these
Achieve a "45% survival rate for restaurants
in 5 years to 90%."
Supporting the creation of sustainable restaurants
Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved38

Tenpos Group Executives
Regardless of age, candidates are selected based on their ability and performance.

4 subsidiary presidents who lead the Tenpos Group

President of Studio Tenpos
Yoshino, age 38.
A president who is toomuch of a craftsman

President, Tenposs.com
Shinagawa, age 43.
wife (usu. of aprominent, influentialman)

President Akasama
Hirota, age 38
Super Positive President➢ Former Sales Manager of
Tenpos West Japan

Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved

President, D-Park
Ito, age 41
A president who seems tobe able to do everything➢ Director & Head of
Human Resources ofTenpos HD

39

Train a person
Executive Training
Training for Tenposs Group executives andexecutive candidates. Practical training is held
once a month on the themes of "improving
results" and "building character". The number ofparticipants is about 30.

Tenpos Dojo
One of the requirements to become an executive
is graduation from the "Tenpos Dojo," a two-day
and one-night program that includes interpretingthe "Tenpos Spirit" and other programs based on
the theme of "pushing one's limits. (Also known as

Next Generation Director
Training
Training for young leaders with several
subordinates in their 20s and 30s. By
systematically learning how to understand the
Tenpos spirit, how to analyze numerical values,and how to formulate strategies, we develop
them into people who can be entrusted with thebusiness.

New graduate training - 80
km walk

New employees walk 80 kilometers in teams offive. What is the purpose of the 80-kilometerwalk? What is a team?" "What is my role?

"training from hell," or "training from hell.")Part-time workforce
development program
Part-time employees are divided into ranks A-G
according to their skills. Part-time employees
decide which rank they want to achieve and takethe program. The highest rank is G, which isequivalent to that of a store manager.

Various types of study
sessions

Conduct study sessions based on what you havelearned from books and seminars you haveattended, such as "sales promotion," "webmarketing," and "improving proposal capabilities.
The participants will decide when and how to use
what they learned in the study sessions and put it
Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved
40
into practice.

Personnel system
The personnel system is based on the philosophy of "I decide my own life."

Challenge

Take care of your family⚫ Choose your working stance(Gekiryu Course and Kikusui Course)⚫ My Life Sheet (supports life planning)⚫ Store manager candidacy⚫ Competition for the president's chair⚫ FA and draft system⚫ part-timer(800,000 summer bonus for part-time
employees)⚫ divorced couple's club

⚫ Take all the childcare leave you want.
⚫ Freedom to transfer (e.g., follow yourhusband on his transfer)⚫ shortened working-hour system⚫ telecommuting

Build good relationships

Enjoy life from the age of 60⚫ drinking in a company⚫ stewed potato party⚫ Positive strokes⚫ abolition of the mandatory retirementage (system)⚫ Paradise Employee System(Free work days and hours)⚫ 3-day/2-night travel training(Not swearing, not pouting, being attentive)

Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved

41You can call them elderly from the age of 90.
Abolished retirement
system in 2005

Percentage of Tenpos Busters over 60 years old, 31%.
Ichinomiya Purchase Center
Part-time employee 84 years
oldFive-day work week
Hobby: Reading mystery novels

Employee of 18 years(74 years old)
Customer service
skills contest
Selected from 3rd in
the nation (503 in all)to join the Special Sales
SectionThe job is to clean kitchenequipment.
Our motto is to increase thevalue of our products as much as
possible.
How long will you work?" I am
asked,
I have no intention of reducing
shifts at this time.

Preparedness to work

Tenposrary Policy Elderly Edition⚫ pretending to know what you're talking about
is a mistake⚫ I look better because I'm older.
⚫ tomorrow will be more interesting than today⚫ Hard work is good for your health.
⚫ I've been through everything in my long life.
⚫ Don't worry about it.
⚫ Grateful to be on the last train.

⚫ Proof that you can work at any age⚫ Life is forever learning and challenging everything.
⚫ Work hard, take the initiative to do the work that others don't
want to do.
⚫ Treasures from the discard pile
⚫ Every day is about discovery, ingenuity, and looking forward totomorrow.
⚫ My peers, let's be blunt.

Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved

42About Us
Company name: Tenpos Holdings Co., Ltd.
Tokyo Stock Exchange Standard Market
Head Office ：7F Sanyu Higashi-Kamata Building, 2-30-17 Higashi-Kamata, Ota-ku, Tokyo
Representative: Atsushi Morishita, President and Representative Director
Establishment : March 31, 1997
Business : Equipment sales business for restaurants Restaurant management support
business Restaurant management businessLeasing and credit card business Other businesses
Fiscal Year End : April• This material is provided solely for the purpose of providing information to investors and is not intended as a solicitation
to buy or sell.
• While every effort has been made to ensure the accuracy of this material, completeness is not guaranteed. The
Company assumes no responsibility for any damage or loss caused by the information contained in this document.
• The forecasts and forward-looking statements in this document are based on information available to the Company atthe time this document was prepared and include potential risks and uncertainties. Therefore, please be aware thatchanges in the business environment and various other factors may cause actual results to differ materially from those
discussed or implied in the forward-looking statements.
• This material is presented on the assumption that investors use it for any purpose at their own discretion andresponsibility, and the Company assumes no responsibility whatsoever.

Copyright@2023 Tenpos Holdings Co.,Ltd All right reserved

43