October 6, 2023

Company Name:

House Foods Group Inc.

Representative:

Hiroshi Urakami, President

(Securities Code: 2810, TSE Prime Market)

Contact:

Nobuhide Nakagawa, General Manager of

Public & Investor Relations Division

(Tel: +81-3-5211-6039)

Notice of Revision to Consolidated Subsidiary's Full-Year Financial Results Forecast

(Ichibanya Co., Ltd.)

House Foods Group Inc. (hereinafter the "Company") hereby announces that Ichibanya Co., Ltd., a consolidated subsidiary of the Company, has revised its financial results forecast for the fiscal year ending February 29, 2024, which was announced on April 5, 2023, as shown in the attached sheet.

The Company is currently examining any effect of the subject matter on its full-year results forecast for the fiscal year ending March 31, 2024 and will promptly announce any revision.

(Attachment)

Attachment: Notice of Revision to Full-Year Financial Results Forecast (Document published by Ichibanya Co., Ltd. as of October 6, 2023)

October 6, 2023

Company Name:

Ichibanya Co., Ltd.

Representative:

Mamoru Kuzuhara,

President and Representative Director

(Securities Code: 7630,

TSE Prime Market, NSE Premier Market)

Contact:

Yasutaka Hirao, General Manager of

Corporate Planning Dept.

(Tel: +81-586-81-0792)

Notice of Revision to Full-Year Financial Results Forecast

In light of recent business trends, Ichibanya Co., Ltd. (hereinafter the "Company") hereby announces that a meeting of its Board of Directors held on October 6, 2023 has revised its consolidated financial results forecast for the fiscal year ending February 29, 2024 that was disclosed on April 5, 2023 at the time of the announcement of financial results for the fiscal year ended February 28, 2023. Details are as follows.

1. Revised consolidated financial forecast for current fiscal year (Mar. 1, 2023 - Feb. 29, 2024)

Profit

Net sales

Operating profit

Ordinary profit

attributable to

Profit per share

owners of

(Million yen)

(Million yen)

(Million yen)

(Yen)

parent

(Million yen)

Previous forecast (A)

53,000

4,300

4,540

2,880

90.23

Revised forecast (B)

55,100

4,900

5,150

3,100

97.16

Change (B - A)

2,100

600

610

220

‒

Percentage change (%)

4.0

14.0

13.4

7.6

‒

(Reference) Results for

48,286

3,613

4,042

2,538

79.54

previous fiscal year

(As of February 28, 2023)

2. Reason for revision

With regard to the consolidated full-year financial results forecast, the consolidated results for the six months of the fiscal year ending February 29, 2024 exceeded the initial forecast, in addition to the revision for the year-on- year change in existing store sales of Ichibanya (non-consolidated) for the second half (September 1, 2023 to February 29, 2024) from 105.0% to 108.9%, reflecting recent sales trends, among other factors. The Company is also projecting that the performance of domestic and overseas subsidiaries will exceed the initial forecast.

As a result of these factors, both net sales and profits are likely to exceed the consolidated results forecasts shown above.

  • The results forecasts above are based on information available at the time of publication. Actual results may differ from the forecasts due to a variety of factors.

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Disclaimer

House Foods Group Inc. published this content on 06 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 October 2023 07:07:09 UTC.