August 4, 2017 JP-HOLDINGS, INC. C o m p a n y Listed on the TSE 1 Stock Code URL: http://ww.jp-holdings. co.jp 2749 Kazuhiro Ogita, President and Representative Director Representative Mika Matsumiya, General Manager of Administration Div. T E L: +81-52-933-5419 C o n t a c t Expected date of filing of annual securities report: August 10, 2017 Expected starting date of dividend payment: — Preparation of supplementary financial document: Yes Results briefing: Yes (for institutional investors and analysts) (Rounded down to million yen)
1 .  Consolidated business results for the three months ended June 2017
(April 1, 2017 through June 30, 2017)

Three months ended June 2017: 188 million yen (250.9 %)
(Reference) Shareholders' equity As of June 30, 2017: 6,878 million yen As of March 31, 2017: 6,850 million yen
(Note) Revisions to dividend forecast for the current quarter: None 3. Forecast of consolidated business results for the fiscal year ending March 2018
(Note) Revisions to business forecast for the current quarter: None *Notes (1) Changes in significant subsidiaries during the period: None (2) Application of accounting procedures specific to preparation of the consolidated quarterly financial statements: None (3) Changes in accounting policies, accounting estimates and restatement ①Changes in accounting policies associated with revision of accounting standards ②Changes in accounting policies other than  ① ③Changes in accounting estimates ④Restatement

(4) Shares outstanding (common stock)
①Number of shares outstanding at the end of period (treasury stock included)
③Average number of stock during period (quarterly cumulative period) 84,794,994 shares Three months ended June 2017 Three months ended June 2016 83,611,769 shares (Note) The number of treasury stock deducted for the calculation of the number of treasury stock at the end of period and the average number of stock during period include the company's shares held by Trust & Custody Services Bank, Lid. as trust property of "Stock Benefit Trust (Employee Stock Ownership Plan)" *Quarterly financial summary is not subject to the quarterly review procedures *Explanation regarding appropriate use of business forecasts and other special instructions • Forecasts regarding future performance in this material are based on information currently available to the Company and certain assumptions that the Company deems to be reasonable at the time this report was prepared. Actual results may differ significantly from the forecasts due to various factors. For information regarding the assumptions that form the basis for the business results forecasts and notes about using business forecasts, please refer to "1. Qualitative Information on Quarterly Financial Results (3) Consolidated Earnings Forecasts" (Page 3). • The company plans to hold results briefing for institutional investors and analysts on August 8, 2017 (Tuesday). After the results breifing, the company will promptly post presentation materials distributed at the results briefing on the company website. Please confirm the results briefing schedule and other information on the company website.
○Table of Contents of the Appendix

1. Qualitative Information on Quarterly Financial Results
(1) Results of Operations
In the first quarter of the current consolidated fiscal year, the Japanese economy continued to mark out a moderate recovery trend, with both corporate earnings and the employment environment improving against the backdrop of the fiscal and monetary policies implemented by the government and by the Bank of Japan. However, in addition to concerns about the economic slowdown already apparent among emerging countries in Asia, the degree of uncertainty about the global economy as a whole is also high due to the lack of policy stability shown by the US administration, and so the overall situation remains unclear at present. Under these circumstances, the need for nursery schools in the nursery service business is still at a high level, and the Group established the following new facilities.
As a result, the Group came to have 182 nursery schools, 71 school clubs, 12 children's houses, and 5 private school clubs, making a total of 270 facilities for supporting child-raising at the end of June 2017. In addition, Asc Kagurazaka Nursery School, which had been running since November 2006, and Asc Hibarigaoka Nursery School, which had been running since August 2002, have been changed from Tokyo Licensed Nursery School to the Licensed Nursery School, and reopened in April 2017. For the above reasons, for the first quarter of the consolidated fiscal year ending March 2018, net sales were 6,398 million yen (up 17.9% year on year), operating income was 236 million yen (up 235.8% year on year), ordinary income was 311 million yen (up 183.8% year on year), and net income attributable to owners of parent was 183 million yen (up 196.4% year on year).
(2) Financial Position
As for the financial position at the end of the first quarter of the current fiscal year, the total assets amounted to 23,594 million yen (down 407 million yen from the end of the previous fiscal year). Current assets totaled 7,542 million yen (up 481 million yen from the end of the previous fiscal year), mainly because cash and deposits increased by 371 million yen, others increased by 180 million yen, and deferred tax assets increased by 131 million yen, while accounts receivable - other decreased by 129 million yen, and inventories decreased by 75 million yen. Fixed assets totaled 16,051 million yen (down 889 million yen from the end of the previous fiscal year), mainly because buildings and structures increased by 550 million yen, while construction in progress decreased by 1,388 million yen. Total liabilities amounted to 16,711 million yen (down 435 million yen from the end of the previous fiscal year). Current liabilities totaled 6,850 million yen (up 311 million yen from the end of the previous fiscal year), mainly because accounts payable – other increased by 312 million yen, and others increased by 370 million yen, while reserve for bonuses decreased by 251 million yen, and current portion of long-term loans payable decreased by 142 million yen. Current liabilities totaled 9,861 million yen (down 747 million yen from the end of the previous fiscal year), mainly because long- term loans payable decreased by 776 million yen. Total net assets as of the end of the first quarter of the consolidated fiscal year ending March 2018 totaled 6,882 million yen (up 27 million yen from the end of the previous fiscal year), mainly because retained earnings decreased by 35 million yen, and treasury stock decreased by 59 million yen.
(3) Consolidated Earnings Forecasts
The full-year consolidated earnings forecasts have not been revised from the announcement on May 9, 2017, but actual results may be different from the forecast according to the changes in business situations, etc. If there are any changes, the company will disclose them properly. 2. Summary Information (Notes) (1) Changes in Significant Subsidiaries during the Period No applicable items.
(2) Additional Information
(Transactions regarding the trust for stock-based benefits [handled by the employee shareholding association]) The first quarter of the consolidated fiscal year ending March 2018 (from April 1, 2017 to June 30, 2017) The company adopted "the trust for stock-based benefits [handled by the employee shareholding association]" (hereinafter referred to as "this system") for the purposes of enhancing the welfare of employees and adding incentives for improving corporate value. (1) Outline of the transaction This system is an incentive plan for returning the benefits of the increase in the price of the company's shares to all employees who joined the "JP Employee Shareholding Association" (hereinafter referred to as "the Shareholding Association"). For this system, the company concluded a contract for the trust for stock-based benefits [handled by the employee shareholding association] (hereinafter referred to as "this trust contract") with the company as the entruster and Mizuho Trust & Banking Co., Ltd. as the entrustee. The trust set up in accordance with this trust contract is referred to as "this trust." In addition, Mizuho Trust & Banking Co., Ltd. concluded a contract for the re-entrustment of the management of trust assets, including securities, with Trust & Custody Services Bank, Ltd. (hereinafter referred to as "Trust E"), with Trust E as the re-entrustee. Trust E will acquire all of the company's shares to be acquired by the Shareholding Association in advance, and sell them when the Shareholding Association acquires the shares. If the amount equivalent to the gain on the sale of shares is accumulated in trust assets for this trust before the termination of the trust, through Trust E selling shares to the Shareholding Association, it will be distributed as residual assets to the members of the Shareholding Association who satisfy the beneficiary requirements. In addition, the trust bank guarantees the borrowings for acquiring the company's shares, and so if there are debts equivalent to the loss from sale of the shares due to the decrease in the company's share price remaining at the time when the trust terminates, the company will repay the remaining debts in accordance with the guarantee contract.
(2) The company’s shares remaining in trust
The company's shares remaining in trust have been posted in the section of treasury shares under net assets, based on the book value in trust (excluding ancillary expenses). The book value and number of the treasury shares were 869,660 thousand yen and 3,162,400 shares respectively, as of the end of the previous consolidated fiscal year, and 810,287 thousand yen and 2,946,500 shares respectively, as of the end of the first quarter of this consolidated fiscal year. (3) Book value of the debts posted through the application of the gross amount method 915,102 thousand yen as of the end of the previous consolidated fiscal year 845,156 thousand yen as of the end of the first quarter of this consolidated fiscal year [Quarterly Consolidated Financial Statements]
[Quarterly Consolidated Statement of Income and Quarterly Statement of Comprehensive Income] Quarterly Consolidated Statement of Income]
[Quarterly Consolidated Statement of Comprehensive Income] [First Quarter of FY3/18]
(3) Notes on quarterly consolidated financial statements (Notes on going concern assumption) First quarter of FY3/18 (April 1, 2017 – June 30, 2017) None (Notes if there is a significant change in the amount of shareholders' equity) First quarter of FY3/18 (April 1, 2017 – June 30, 2017) None