Overview of financial results for the fiscal year ended March 31, 2020 May 26, 2020 Seibu Holdings Inc.（9024） https://www.seibuholdings.co.jp/en/ Ⅰ．Executive summary P2 Ⅱ．Key initiatives of the fiscal year P8 ended March 31, 2020 Ⅲ．Segment information and P11 key performance indicators Ⅳ．Details on financial results P24 Ⅴ．Consolidated earnings forecasts for P31 the fiscal year ending March 31, 2021 Ⅵ．Dividends for the current period and the P33 following period May 26, 2020 1 Financial results for the fiscal year ended March 31, 2020 billions of yen Change from YoY change March 31, 2020 March 31, 2019 March 31, 2020 forecast (Amount / % ) (forecast)2 (Amount / %) Operating revenue 565.9 554.5 (11.3) (2.0%) 573.8 (19.2) (3.3%) Operating profit 73.3 56.8 (16.5) (22.5%) 67.5 (10.6) (15.8%) EBITDA1 127.3 114.5 (12.7) (10.0%) 125.7 (11.1) (8.9%) Ordinary profit 65.4 48.7 (16.6) (25.4%) 59.2 (10.4) (17.6%) Profit attributable to owners of parent 45.4 4.6 (40.7) (89.7%) 40.0 (35.3) (88.3%) 1 EBITDA is calculated by adding depreciation and amortization of goodwill to operating profit 2 Forecasts announced on February 6, 2020 Earnings results Key points of financial results over the last 5 years ■Operating revenue ▶ Page 4 billions of yen 600.0 150.0 565.9 Up to 3Q, revenue increased, despite the impact of natural disasters such as Typhoon 554.5 530.6 Hagibis, mainly due to growth in revenue per available room (RevPAR) in the hotel 508.0 512.0 500.0 125.0 operations, revenue growth in the Hawaii business, and an increase in railway 127.3 passenger transportation sales. 115.5 114.5 400.0 106.7 108.1 100.0 Full-year revenue decreased, however, due to the major impact of the spread of novel coronavirus disease (COVID-19) in 4Q. 300.0 73.3 75.0 ＜Seibu Railway/Railway operations＞ ▶ Page 12 65.9 62.4 64.2 58.5 56.8 65.4 ％ ％ ％ 57.4 Sales -0.9 YoY [Commuter passes:+0.6 , Non-commuter passes:-2.2 ] 200.0 57.2 55.4 50.0 48.7 47.5 ＜Hotel operations＞ ▶ Page 14 42.9 45.4 Overall RevPAR: 11,636 yen（-6.4% YoY） 100.0 25.0 City hotels: 12,566 yen（-6.7％ YoY）, Resort hotels: 9,757 yen（-5.4％ YoY） 4.6 0.0 0.0 ■Operating profit/Ordinary profit ▶ Page 5･25 March 31, March 31, March 31, March 31, March 31, 2016 2017 2018 2019 2020 Profit decreased due to the decrease in revenue, coupled with increases in depreciation and selling, general and administrative expenses, etc. Operating revenue (left axis) Operating profit (right axis) ■ ▶ ･ Profit attributable to owners of parent Page 24 25 EBITDA (right axis) May 26, 2020 Profit decreased by 40.7 billion yen YoY, due to the factors above and the Ordinary profit (right axis) recording of impairment loss, etc. Profit attributable to owners of parent (right axis) 2 Impact of spread of COVID-19 billions of yen Impact on operating Impact on operating revenue (estimate) profit(estimate) Details ・Decrease in railway and bus transportation sales due to people refraining from going out Urban ・Suspension of operations of leisure facilities along railway lines such as Seibuen Transportation △ 3.6 △ 3.0 and Regional Amusement Park and Toshimaen ・Decrease in operating days of Yokohama Arena due to refraining from holding events ・Decrease in users of accommodation, banquets, and restaurant services in the Hotel and Hotel business Leisure △ 15.2 △ 11.5 ・Suspension of operations at Yokohama Hakkeijima Sea Paradise, etc. ・Decrease in foot traffic at “TOMONY” in-station convenience stores due to decrease in station users Real Estate △ 0.3 △ 0.2 ・Decrease in users of commercial facilities due to people refraining from going out and reduced operating hours ・Postponement of opening game for Seibu Lions and holding preseason games without spectators Other △ 1.5 △ 0.6 ・Decreases in railway and bus transportation sales in the Izuhakone business and the Ohmi business, etc. Total △ 20.6 △ 15.3 May 26, 2020 3 Operating revenue for each segment billions of yen March 31, Change from March 31, March 31, YoY change Details Details 2020 forecast 2019 2020 (Amount / %) (＋)Increase factor, (－)Decrease factor (＋)Increase factor, (－)Decrease factor (forecast)1 (Amount / %) （－）Impact of spread of COVID-19 Urban （＋）Increase in transportation sales for commuter passes due to Transportation 163.0 161.1 (1.9) (1.2%) the strong employment situation (up to 3Q) 164.7 (3.5) (2.1%) （－）Impact of spread of COVID-19 （＋）Increase in limited express tickets and increase in and Regional transportation sales for non-commuter passes due to the opening of Moominvalley Park, etc. (up to 3Q) （－）Impact of spread of COVID-19 （－）Impact of natural disasters such as typhoon Hagibis （＋）Revenue increased thanks to a rise in leisure demand over the Hotel and Leisure 219.8 209.1 (10.6) (4.8%) 222.9 (13.7) (6.2%) （－）Impact of spread of COVID-19 long holiday and the holding of the Rugby World Cup （＋）Contribution of earnings from AB Hotels Ltd. acquired by StayWell in the previous fiscal year （－）Decrease in sales of condominium units （－）Fall-back after sale of resort land in the previous fiscal year Real Estate (3.3) (4.8%) (0.1) (0.2%) （－）Impact of spread of COVID-19 69.6 66.3 （－）Impact of spread of COVID-19 66.5 （＋）Start of operations at DaiyaGate Ikebukuro （＋）Increase in private residential building construction （＋）Increases in landscape work and sales of building materials （－）Difference in progress rates on construction Construction 109.6 111.7 2.0 1.9% 113.7 (1.9) (1.7%) （－）Fall-back after large-scale renovation project in the previous and civil engineering works fiscal year （＋）Increased RevPAR and growing number of guests in the food and beverage division at the Prince Waikiki and Mauna Kea Beach Hotel Hawaii Business 3.3 17.8% 0.0 0.4% 19.0 22.4 （＋）Contribution to earnings growth from the Westin Hapuna Beach 22.4 Resort, which reopened after renovation in the previous fiscal year （－）Impact of spread of COVID-19 （＋）Increase in the Seibu Lions business, due to an increase in the Other 41.9 41.5 (0.3) (0.9%) number of spectators helped by various sales promotions and 42.8 (1.2) (2.9%) （－）Impact of spread of COVID-19 the strong team performance （＋）Increase in revenue from renting MetLife Dome for concerts, etc. Adjustments (57.3) (57.8) (0.5) ― (59.2) 1.3 ― Consolidated 565.9 554.5 (11.3) (2.0%) 573.8 (19.2) (3.3%) 1 Forecasts announced on February 6, 2020 May 26, 2020 4 Operating profit and EBITDA for each segment Operating profit billions of yen March 31, Change from March 31, March 31, YoY change Details Details 2020 forecast 2019 2020 (Amount / %) (＋)Increase factor, (－)Decrease factor (＋)Increase factor, (－)Decrease factor (forecast)1 (Amount / %) （－）Decrease in operating revenue （－）Impact of spread of COVID-19 Urban Transportation （－）Increase in personnel expenses in 27.0 23.3 (3.7) (13.7%) 25.2 (1.8) (7.3%) （＋）Decrease in expenses in the railway and Regional the railway operations and general and operations, etc. administrative expenses （－）Decrease in operating revenue （－）Impact of spread of COVID-19 Hotel and Leisure 19.7 8.0 (11.6) (59.2%) （－）Increase in selling, general and 17.5 (9.4) (54.0%) （＋）Cost controls of personnel expenses, etc. administrative expenses （－）Decrease in operating revenue （＋）Decrease in utility costs and repair （－）Increase in depreciation following the Real Estate 20.0 18.1 (1.9) (9.7%) 17.9 0.2 1.4% expenses start of operations at DaiyaGate （－）Impact of spread of COVID-19 Ikebukuro （－）Increased indirect construction costs and general and administrative （＋）Upturn in profit margins of civil Construction 5.8 5.6 (0.2) (4.3%) 5.3 0.3 6.4% expenses in the construction engineering and renovation projects operations Hawaii Business (1.3) 0.5 1.8 ― （＋）Increase in operating revenue 0.5 0.0 2.4% （－）Decrease in operating revenue （＋）Decrease in promotion expenses, etc., （－）Increase in expenses such as Other 1.2 0.6 (0.6) (51.8%) 0.5 0.1 20.9% for the Seibu Lions depreciation pertaining to the MetLife （－）Impact of spread of COVID-19 Dome area renewal project Adjustments 0.6 0.5 (0.1) (21.7%) 0.6 (0.0) (16.4%) Consolidated 73.3 56.8 (16.5) (22.5%) 67.5 (10.6) (15.8%) EBITDA billions of yen March 31, Change from March 31, March 31, YoY change Details 2020 forecast Details 2019 2020 (Amount / %) (forecast)1 (Amount / %) Urban Transportation and Regional 48.7 45.4 (3.2) (6.8%) 47.5 (2.0) (4.3%) Hotel and Leisure 36.0 25.4 (10.6) (29.5%) 34.6 (9.1) (26.5%) Real Estate 30.4 29.9 (0.4) (1.6%) 29.7 0.2 0.8% Construction 6.3 6.0 (0.2) (3.6%) 5.8 0.2 5.0% Hawaii Business 1.2 3.2 2.0 173.1% 3.2 0.0 2.9% Other 4.3 4.0 (0.3) (7.1%) 3.9 0.1 2.7% Adjustments 0.2 0.3 0.0 36.2% 1.0 (0.6) (68.5%) May 26, 2020 Consolidated 127.3 114.5 (12.7) (10.0%) 125.7 (11.1) (8.9%) 1 Forecasts announced on February 6, 2020 5 Profit attributable to owners of parent: Factors increasing/decreasing profit Operating profit decreased by 16.5 billion yen.