Notice Regarding Revision to Earnings Forecast of Consolidated Subsidiary (Kintetsu Department Store Co., Ltd.)

Overview of Performance

Based on variances between the interim earnings forecast and actual results published by consolidated subsidiary Kintetsu Department Store, the full-year earnings forecast has been revised. Interim sales, operating income, ordinary income and interim net income exceeded previous forecasts, with interim net income showing significant improvement. Full-year sales, operating income, ordinary income and net income have been revised upward, and net income per share is 99.07 yen. Along with the revision to the year-end dividend forecast, the company indicates a policy to aim for dividends aligned with performance while maintaining financial soundness.

Impact on Shareholders and Future Outlook

Accompanying the upward revision to the full-year earnings forecast, the year-end dividend forecast is planned to be increased to 25 yen. The factors behind the second-quarter results exceeding previous forecasts include strong domestic department store sales and healthy duty-free sales; going forward, while taking into account potential increases in utility costs due to Middle East conditions, the overall outlook remains above the previous forecast.