February 8, 2024
To whom it may concern:

Company NameCorporate
Representative

TOHO HOLDINGS CO., LTD.
Atsushi Udoh, Representative Director, CEO(Prime Market of Tokyo Stock Exchange
Securities Code: 8129)
Makoto Kawamura, Corporate Officer andGeneral Manager, Corporate Communications
and Investor Relations Division(TEL: 81-3-6838-2803)

Contact:

Notice Regarding the Revision of the Full-year Earnings Forecasts andDividend Forecasts for the Fiscal Year Ending March 2024
TOHO HOLDINGS CO., LTD. is pleased to announce that, in the light of matters such as the recent trends in
the Company’s performance, it has revised its consolidated full-year earnings forecasts for the fiscal year ending
March 2024 and year-end dividend forecasts, which were announced on May 12, 2023, as below.
1. The Revision of the Full-year Earnings Forecasts(1) The Revision of the Full-year Earnings Forecasts for the Fiscal Year Ending March 2024
(From April 1, 2023 to March 31, 2024)
Net Sales

ProfitAttributable to Net Income per
Operating Profit Ordinary Profit
Owners ofShare
ParentMillions of yen

Millions of yen

Millions of yen

Millions of yen

Yen

1,325,000

11,50013,80012,300190.65

Revised forecast (B)1,458,000

12,60015,50014,500224.75

Increase/Decrease (B-A)

133,000

1,100

1,700

2,200

Change (%)(Reference)
Result of FY ended March2023

10.0

9.6

12.3

17.9

1,392,117

16,365

19,176

13,630Previous forecast (A)

196.70※From the first quarter of the fiscal year ending March 2024, the presentation method of information service fees,etc. has been changed from non-operating income to net sales, and the consolidated results of the previous fiscal
year have been reclassified retrospectively.
(2) Reason for the Revision
Net sales of COVID-19-related products, for which we had predicted a significant drop, continued to exceed ourprojections. Those of new drugs such as cancer therapeutic agents and specialty pharmaceuticals also increased. Inaddition, changes to distribution arrangements at some pharmaceutical manufacturers also help to increase net sales.
As a result of these and other factors, net sales and profits are expected to surpass the original estimates.
In light of the above, we have revised the earnings forecasts for the fiscal year ending March 2024, which wereannounced on May 12, 2023.

12. The Revision of Dividend Forecasts(1) Details of revision
Annual dividends
Second quarter-end
Previous forecasts

Revised forecasts
Actual results for thecurrent fiscal year

Fiscal- year-end

Total

18 yen36 yen(Ordinary dividend:16 yen)(Ordinary dividend:32 yen)(Commemorative dividend:2 yen)(Commemorative dividend:4 yen)

22 yen40 yen(Ordinary dividend:20 yen)(Ordinary dividend:36 yen)(Commemorative dividend:2 yen)(Commemorative dividend:4 yen)

16 yen32 yen18 yen(Ordinary dividend: 16 yen)(Commemorative dividend:2 yen)

Actual results for theprevious fiscal year
(Fiscal year ended

16 yenMarch 31, 2023)(2) Reason for the Revision
The Company regards shareholder returns as a priority. The Medium-term Management Plan has a basic policythat calls for a stable increase in dividends with a view to achieving a DOE (dividend on equity) of 2%. With regard
to the year-end dividend forecasts, due to the fact that the full-year earnings forecasts are expected to exceed thepreviously announced forecasts, the dividend per share will increase by 4 yen from 18 yen (Ordinary dividend 16yen, commemorative dividend 2 yen) to 22 yen (Ordinary dividend 20 yen, commemorative dividend 2 yen).
(Note)

The above earnings forecasts have been prepared based on information available as of the announcement dateof this document. Actual performance may differ from the forecasted figures for various reasons.

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