Tsuruha : Presentation Materials with Script for the First Quarter of the Fiscal Year Ending May 15, 2021

TSURUHA HOLDINGS INC.

1st Quarter of FY5/21 Financial Results Announcement

September 14, 2020

Event Summary

[Company Name]	TSURUHA HOLDINGS INC.
[Event Type]	Earnings Announcement
[Event Name]	1st Quarter of FY5/21 Financial Results Announcement
[Fiscal Period]	FY2020 Q1
[Date]	September 14, 2020
[Number of Pages]	29
[Time]	15:30 - 16:30
	(Total: 60 minutes, Presentation: 19 minutes, Q&A: 41 minutes)
[Venue]	Webcast
[Venue Size]
[Participants]
[Number of Speakers]	2
	Makoto Murakami	Executive Officer and Chief Administrative
		Officer
	Takuya Yamazaki	Investor Relations Manager

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Japan	03.4405.3160	North America	1.800.674.8375
Tollfree	0120.966.744	Email Support	[e-mail]

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Presentation

Yamazaki: Now, it is time for us to hold a financial results briefing for the first quarter of the fiscal year ending May 2021.

Let me introduce today's attendees. Murakami, Executive Officer and Chief Administrative Officer.

Murakami: I am Murakami. Thank you.

Yamazaki: I am Takuya Yamazaki, Investor Relations Manager. I will also be today's moderator. Thank you in advance.

At today's briefing, we will explain our financial results briefing materials while sharing them on a screen. Please also refer to the Company's financial results briefing materials, supplementary materials, and earnings briefing on the Company's website.

For today's presentation, first, Yamazaki will explain the outline of our business performance, followed by a briefing from Murakami about our initiatives and policies for the fiscal year under review. Thereafter, we will move on to a question-and-answer session.

Then, we will move on to the financial results briefing. Thank you.

First, Yamazaki will explain the outline of our business performance. Please note that as stated on page one of the material and on the table of contents, the first quarter profit and loss does not include the figures of JR Kyushu Drug Eleven Co., Ltd.

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Tollfree	0120.966.744	Email Support	[e-mail]

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Please refer to page three.

In the first quarter of the period ending May 2021, sales increased 7.6% from the previous year to JPY224.6 billion, and operating margin increased 20.1% from the previous year to JPY15.1 billion.

Despite negative factors such as the disappearance of inbound demand and sluggish sales of seasonal products, increased demand related to the coronavirus has continued since the end of the previous quarter, resulting in a significant boost to sales. We also recognize that we have been able to control selling, general and administrative expenses well.

Major topics are described in the following section. In the second half, Murakami will explain.

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Japan	03.4405.3160	North America	1.800.674.8375
Tollfree	0120.966.744	Email Support	[e-mail]

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