TRANSLATION FOR REFERENCE PURPOSE ONLYThis notice has been translated from the original Japanese text of the timely disclose statement and is for reference purpose
only. In the event of any discrepancy between the original Japanese and this translation, the Japanese text shall prevail.

October 27, 2022
Company Name:
Representative:
Contact:

Asahi Holdings, Inc.
Tomoya Higashiura, President & CEO(Code: 5857, Tokyo Stock Exchange - Prime Market)
Kunihiko Chogo, General Manager,
Corporate Planning & Communications Department(Phone: +81-3-6270-1833)

Notice of Difference between Financial Forecast and Actual Financial Results for the Six Months Ended
September 30, 2022 and Revision to Financial Forecast for the Year Ending March 31, 2023
Asahi Holdings, Inc. (the “Company”) hereby announces that, there were differences between the consolidated financial
forecast for the six months ended September 30, 2022 announced on April 27, 2022 and the actual results announced
today. The Company also announces that the Board of Directors of the Company has resolved today to revise its
consolidated financial forecast for the year ending March 31, 2023, which was announced on April 27, 2022. The details
are described below.
1. Differences between consolidated financial forecast and actual financial results for the six months ended September
30, 2022 (April 1, 2022 to September 30, 2022)
Revenue

OperatingprofitProfit before
tax

Profitattributable Basic earnings
to owners ofper share
parentPrevious forecasts (A)(Announced on April 27, 2022)¥ million¥ million¥ million¥ million

Yen Sen

100,000

12,00011,7008,000

101 73

Actual results (B)132,653

11,493

10,241

7,293

93 30

Change (B-A)

32,653

Change (%)

32.7(506)(1,458)(706)(Ref.) Results for the six months(FY ended March 31, 2022)

96,861

13,69813,642

9,653

(4.2)

(12.5)(8.8)

122 62

2. Revisions to consolidated financial forecast for the year ending March 31, 2023 (April 1, 2022 to March 31, 2023)
Profitattributable Basic earnings
to owners ofper shareparentRevenue

OperatingprofitProfit before
tax

Previous forecasts (A)(Announced on April 27, 2022)¥ million¥ million¥ million¥ million

Yen Sen200,000

24,00023,50016,000203 45

Revised forecasts (B)270,00024,000

22,60015,600201 52

Change (B-A)

70,000－(900)

Change (%)

35.0－

192,442

26,446

(3.8)

(400)

(Ref.) Results for the full year
(FY ended March 31, 2022)

26,372(2.5)

18,735238 113. Reasons for differences and revisions
Revenue exceeded the previous forecast due to the significant increase in the volume of precious metals collected
and sales with the launch of the new plant for the precious metals recycling business in April this year.
On the other hand, the Company recorded “share of loss of investments accounted for using equity method” inassociation with the judgement rendered by the Osaka District Court on September 15, 2022 regarding a patent
infringement lawsuit, which was filed to Fuji Medical Instruments MFG. Co., Ltd. (“Fuji”), an equity-method
affiliate of the Company, by Family Inada Co., Ltd. In addition, when the Company and Johnson Health Tech, Co.,
Ltd. entered into a share transfer agreement on December 20, 2019 regarding shares of Fuji, it was agreed that theCompany would bear a portion of this compensation for damages, and the Company recorded “other non-operatingexpenses” based on the amount for which it bore responsibility under the agreement. As a result, operating profit,profit before tax and profit attributable to owners of parent fell below the previous forecasts.
Based on the above results, the Company has resolved to revise the full-year consolidated financial forecasts forthe fiscal year ending March 31, 2023.
The above forecasts have been prepared based on the information available at the time of issuance of this announcement.
Actual results may differ from the aforementioned forecasts due to a variety of factors including economic conditions,financial trends, metal market trends and others.

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