CURVES : Supplementary Material Consolidated Results of Operations for 3Q of FY2022

Supplementary Material:

Consolidated Results of Operations for 3Q of FY ending August 31, 2022

July 8, 2022

TSE Prime Market：7085

CURVES HOLDINGS Co., Ltd.

Table of Contents

1.	Operations results of 3Q	3
	of FY 8/2022
2.	Business outline and updates for 3Q	13
3.	Forecasts and strategies for 4Q	23
	of FY 8/2022 and beyond
Appendix	30

Operations Results of

3Q of FY 8/2022

Consolidated Statement of Income 4

(million yen)	FY 8/2022(current)	FY 8/2021(previous)	Year on year	FY 8/2022(current)
9 Mo(Sep-May)Actual	9 Mo(Sep-May)Actual	3Q(Mar-May)Actual
	20,449	18,170	112.5%	7,006
Sales
Cost of Sales	11,482	10,503	109.3%	3,944
(COS ratio)	56.1%	57.8%		56.3%
SGA	6,535	6,352	102.9%	2,359
incl. Amortization	866	805		297
for goodwill and trademarks
Operating Profit	2,432	1,314	185.0%	702
(Operating ratio)	11.9%	7.2%		10.0%
Ordinary Profit	2,710	1,421	190.7%	860
(Ord profit ratio)	13.3%	7.8%		12.3%
Net Profit	1,799	824	218.1%	591
(Net profit ratio)	8.8%	4.5%		8.4%

	Consolidated Statement of Income (by region)	5
			FY 8/2021(previous)		FY 8/2022(current)
		FY 8/2022(current)	Year on year
(million yen)	9 Mo(Sep-May)Actual	To Sales	9 Mo(Sep-May)Actual	To Sales	3Q(Mar-May)Actual	To Sales
Sales	20,449	100.0%	18,170	100.0%	112.5%	7,006	100.0%
	Domestic	20,134	98.5%	17,990	99.0%	111.9%	6,886	98.3%
	International	315	1.5%	180	1.0%	175.1%	119		1.7%
Operating Profit	2,432	11.9%	1,314	7.2%	185.0%	702	10.0%
	Domestic	3,748		2,680		139.8%	1,126
	International	-309		-390		-	-78
	Adjustments	-1,007		-975		-	-344

* Sales and Operating Profit for the International segment

The international segment comprises of the global franchise business and European franchiser operations by 2 subsidiaries (Curves International, Inc. and Curves Europe B.V.). Sales and operating profit for the international segment do not include incomes from royalty fees and equipment sales from the domestic business to Curves International, as well as the costs for management fee payments from the 2 subsidiaries to the Japanese entity.

* Adjustments for operating profit

Expenses not attributable to specific regions, including amortizations for goodwill and trademark rights.