CONSOLIDATED FINANCIAL SUMMARY 2Q FY 2025 (from April 1, 2025 to September 30, 2025)

（securities code： 4681）

CONSOLIDATED FINANCIAL SUMMARY

For the Second Quarter Ended September 30, 2023,2024 and 2025

*The stock split is being conducted at a ratio of 1 share to 2 shares, with the effective date set for April 1, 2025. (Millions of yen)

Business Results

Overview of 2Q The Fiscal Year 2025(Ending March 31, 2026)

1. Summary of Business Results

   (Millions of Yen)

   	2Q FY2024 (Results)	2Q FY2025		Year-on-Year Change	Results vs. Targets
   		(Results)	(Targets)
   Net sales	107,725	110,950	110,400	+3.0%	+0.5%
   Operating income	11,433	12,415	10,600	+8.6%	+17.1%
   Ordinary income	11,512	12,449	10,600	+8.1%	+17.4%
   Net income	7,522	8,620	7,100	+14.6%	+21.4%

   Evaluated Operating Income

   15,278

   19,134

   15,800

   +25.2%

   +21.1%

   (Year-on-year change)

   In the same period of the previous year (April 2025 to September 2025), Membership Operations saw strong sales of memberships primarily for SANCTUARY COURT BIWAKO and SANCTUARY COURT NIKKO, as well as resale of memberships for existing hotels. In the period under review (April 2025 to June 2025), we began recruitment drive for memberships for SANCTUARY COURT KANAZAWA, which began sales in March 2025, and SANCTUARY COURT AWAJISHIMA, which began sales in June 2025. Although sales were primarily of contracts for hotels prior to opening, this resulted in the number of contracts concluded exceeding that of the previous year. Medical Operations saw an increase in membership fee income due to the growth in the number of HIMEDIC members, while in Hotel and Restaurant Operations, there was contribution to revenue by newly-opened hotels in addition to a revision in operating management costs (annual fees) and utilization costs (hotel room fee). These factors offset a rise in costs such as increased labor costs caused by base increases and an increase in personnel in preparation for the opening of new facilities. As a result, the Resort Trust Group achieved a year-on-year increase in both sales and income. Given the recording of impairment loss (approximately 1.7 billion yen) including the impairment of goodwill relating to the acquisition of a site for development during the same period of the previous year, net income attributable to owners of parent increased by 14.6% for the period under review. Furthermore, evaluated operating income, an indicator of real performance, after deducting the effects of deferral of revenue from real estate sales and other factors, improved significantly with a 25.2% increase thanks to the strong sales of memberships for newly-launched hotels.

   (compared with plan)

   *The plan is based on the earnings forecast as of May 15, 2025. It should be noted that the company, effective today, made an upward revision of its earnings forecast.

   Compared to the plan, all business segments exceeded their income targets. In Membership Operations, the recruitment drive for new membership was successful. In Hotel and Restaurant Operations, various measures to improve employee benefits proved effective, resulting in increased productivity. In Medical Operations, the recruitment drive for medical checkup memberships and revenue from general medical checkups exceeded expectations. In light of this strong performance, returns to employees and shareholders are being increased across the company.

   (Reference) Evaluated Operating Income

   In the pre-opening hotel membership sales, accounting figures for the real estate component of the membership fee are deferred until the opening of the hotel, as the revenue is realized in a lump sum at the time of opening. Evaluated operating income represents income assuming that such income to be deferred, had been recorded during the current fiscal year, and it is used as a management indicator of real performance during the current fiscal year.

   During the six-month period ended September 30, 2025, the Group implemented base increases and strengthened recruiting activitiescontinuing from the previous fiscal year to prepare for business expansion. These increases in up-front costs were offset by revising the prices of certain products (membership fees, operating management costs, hotel room fee, meal charges, etc.), promoting DX management, and enhancing productivity through the promotion of human capital management. During the period under review, the recruitment drive for hotel memberships continued to be successful, and the increase in membership numbers, including medical memberships, as well as the increase in hotel occupancy at SANCTUARY COURT BIWAKO, which opened in October 2024, contributed to sales growth. However, real estate sales of pre-opening hotels are deferred until opening, therefore, the increase in reported net sales remained at 3.0%. (Evaluated Net Sales, which is an indicator of real performance, increased by 11.2%)

   As a result, net sales were 110,950 million yen (+3.0% year-on-year), operating income was 12,415 million yen (+8.6% year-on-year), ordinary income was 12,449 million yen (+8.1% year-on-year), and net income attributable to parent company shareholders was 8,620 million yen (+14.6% year-on-year).

2. Summary of Business Segments

   【Membership Operations】

   (Millions of Yen)

   	2Q FY2024 (Results)	2Q FY2025 (Results)	Year-on-Year Change
   Net sales	31,193	28,018	(10.2%)
   Operating income	10,960	9,624	(12.2%)

   In Membership Operation Segment, we began recruitment drive for memberships for SANCTUARY COURT KANAZAWA, which began sales in March 2025, and SANCTUARY COURT AWAJISHIMA, which began sales in June 2025, and membership sales progressed favorably however, compared to the improved profitability resulting from an increased ratio of sales of existing hotel memberships in the same period of the previous year, the majority of real estate revenue was deferred in the period under review. As a result, while contract value increased year on year, lower sales and lower income were accounted for the period.

   【Hotel and Restaurant Operations】

   (Millions of Yen)

   	2Q FY2024 (Results)	2Q FY2025 (Results)	Year-on-Year Change
   Net sales	51,002	55,264	+8.4%
   Operating income	1,758	3,555	+102.1%

   In Hotel and Restaurant Operation Segment, SANCTUARY COURT BIWAKO which opened in October 2024, contributed to increased sales. In addition, revisions were made to operating management costs (annual fees) and utilization costs (hotel room fee). These factors offset a rise in up-front costs such as increased labor costs caused by base increases and an increase in personnel in preparation for the opening of new facilities. As a result, the segment recorded higher sales and higher income.

   【Medical Operations】

   (Millions of Yen)

   	2Q FY2024 (Results)	2Q FY2025 (Results)	Year-on-Year Change
   Net sales	25,189	27,313	+8.4%
   Operating income	3,854	3,982	+3.3%

   In Medical Operation Segment, membership recruitment for the comprehensive medical support club "Grand HIMEDIC Club" was steady, and annual membership fee income and other income increased due to the increase in

   members. In addition, general medical checkup operations facilities and business locations were expanded. As a result, the segment recorded higher sales and higher income.

   【Others】

   (Millions of Yen)

   	2Q FY2024 (Results)	2Q FY2025 (Results)	Year-on-Year Change
   Net sales	339	353	+4.0%
   Operating income	365	337	(7.7%)

   Others cover business segments that are not part of reportable segments and include real estate businesses.

3. Outlook for the Fiscal Year 2025(Ending March 31, 2026)

(Millions of Yen)

The Resort Trust Group has established a new five-year medium-term management plan covering the period from April 2025 to March 2030 and aims to establish a new membership-based business model.

The outlook for this fiscal year is as follows: In Membership Operations, we launched sales of memberships for the new membership-based resort hotel SANCTUARY COURT AWAJISHIMA in June 2025. Additionally, the opening of the membership-based resort hotel SANCTUARY COURT NIKKO in February 2026 (planned) will result in the lump-sum recording of deferred real estate revenue. Furthermore, in Hotel and Restaurant Operations and Medical Operations, operating revenue is expected to grow due to an increase in memberships, registrations, and related customers, as well as higher unit prices resulting from the development and provision of new high-value-added services. Additionally, by continuing wage increases-including base increases-we aim to create a virtuous cycle aimed at further enhancing productivity and creativity. The Group as a whole expects to set new records for sales and income, with net sales of 260,000 million yen (+4.3% year-on-year), operating income of 29,000 million yen (+10.0% year-on-year), ordinary income of 29,000 million yen (+8.0% year-on-year), representing new records for net sales, operating income, and ordinary income, and the Group anticipates continued growth in both sales and income. Also, for this fiscal year, the Group forecasts only a slight increase in profit attributable to owners of parent to 20,300 million yen (+0.8% year-on-year) due to the absence of extraordinary income such as gain on redemption of bonds recognized in the previous fiscal year.

The company has revised its dividend forecast upward with an increase of 1 yen each for both the interim dividend and the year-end dividend (forecast), for an increase in the annual dividend of 2 yen. With the interim dividend expected to be 17 yen and the year-end dividend expected to be 17 yen (current forecast), the company anticipates an annual dividend of 68 yen (current forecast), representing a new record high, and an increase of 6 yen in real terms from the same period of the previous fiscal year, on a pre-split basis. (On a post-split basis, the annual dividend for the previous fiscal year was 31 yen, and for the fiscal year under review, the annual dividend is expected to be 34 yen (current forecast)).