MIRARTH : Earnings Document

Year Ended March31, 2023 Financial Results Briefing

MIRARTH HOLDINGS, Inc. (formerly Takara Leben Co., Ltd.)	Securities Code: 8897		May 19, 2023

Executive Summary

• Year Ended March31, 2023's consolidated results△ were as follows: Net sales 153,472 million yen △(△ 5.7% YoY), Operating income 7,030 million yen ( 40.8% YoY), Ordinary income△ 5,033 million yen ( 50.9% YoY), and Net income attributable to owners of parent 4,584 million yen ( 26.2% YoY ).

• Although both sales and profits declined due to the impact of TOB in Takara Leben Infrastructure Fund Inc., we are planning a major change in our earnings structure going forward, shifting from flow to stock. In the year ended March 31, 2030, Energy Business accounted for 30% of the total Operating income and we are aiming for EBITDA Real Estate Business : Energy Business = 1:1.
• In conjunction with the implementation of TOB, the Group reviews the numerical targets and key management indicators of the Medium-Term Management Plan and formulates medium-tolong-term strategies for Energy Business. In addition to stable growth in Real Estate Business and the development of Energy Business and improved profitability through stable earnings growth in Asset Management Business, expansions will promote sustainability management to realize a pass.
• • EBITDA= Operating income + Depreciation and amortization

Copyright © MIRARTH HOLDINGS Group. ALL RIGHTS RESERVED.

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INDEX

01 Year Ended March31, 2023 Performance Summary

02 Full year Forecast for the Fiscal Year Ending March31, 2024

03 Progress Under The First Medium-Term Business Plan

04 Growth Strategy

05 Appendix

1. 4 P. 17 P. 26 P. 36 P. 46

01

Year Ended March31, 2023 Performance Summary

P e r f o r m a n c e S u m m a r y

Year Ended March31, 2023 Consolidated Statements of Income

		Year Ended March31,
	Year Ended March31,
	2023	YoY change
	2022	Actual	Rate of change
(Millions of yen)	Actual
Net sales	162,744	153,472	△5.7%
Cost of sales	129,626	121,763	△6.1%
Gross profit	33,117	31,708	△4.3%
Selling, general and administrative	21,240	24,677	16.2%
expenses
Operating income	11,877	7,030	△40.8%
Ordinary income	10,258	5,033	△50.9%
Net income attributable to owners	6,215	4,584	△26.2%
of parent
Cost of debt	0.6%	0.9%	0.3P
Shareholders' equity Costs	3.2%	4.6%	1.4P
WACC	1.2%	1.6%	0.4P

	Year Ended
	March31, 2023	vs. Plan Change
	Initial target
	173,500	△11.5%
	140,400	△13.3%
	33,100	△4.2%
21,200	16.4%
	11,900	△40.9%
10,300	△51.1%

7,000	△34.5%

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※WACC = Cost of debt × (1-T) × D/ (D + E) + Cost of Shareholders' equity × E/ (D + E) (T: Estimated at the effective tax rate [30.9%]) D: E interest-bearing debt: Equity attributable to owners of the parent

Copyright © MIRARTH HOLDINGS Group. ALL RIGHTS RESERVED.

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