Summary of Financial Statements
for First Quarter of Fiscal Year Ending March 31, 2024 [Japanese GAAP](Consolidated)
August 8, 2023
Name of listed company:

SHIP HEALTHCARE HOLDINGS, INC.
Shares listed on: Tokyo Stock Exchange
Code:3360
URL
https://www.shiphd.co.jp/en/
Representative:(Title) President(Name) Futoshi Ohashi
Contact:(Title) Executive Director(Name) Hiroshi YokoyamaTel.: +81-6-6369-0130
Scheduled date for filing quarterly report: August 10, 2023
Scheduled start date for dividend payments: Supplementary briefing materials on results: NoneBriefing on quarterly results:None(All figures are rounded down to the nearest million yen.)

1. Consolidated financial results for the first quarter of fiscal year ending March 31, 2024
(April 1, 2023 – June 30, 2023)(1) Consolidated operating results
Net sales(Million yen)

(Percentages represent year-on-year changes.)
Profit attributable toOrdinary profit
owners of parent

Operating profit%(Million yen)%

Q1 FY ending March 2024
146,467
20.8
3,842
35.8
Q1 FY ended March 2023
121,214
6.1
2,830
(8.9)
Note: Comprehensive income: Q1 FY ending March 2024: ¥ 5,392 million (88.6 %)Q1 FY ended March 2023: ¥ 2,859 million (88.5 %)Diluted net
Net income per shareincome per share
Q1 FY ending March 2024
Q1 FY ended March 2023

(Yen)

(Yen)

31.78
16.80

28.81
15.22

(Million yen)%

(Million yen)

%

4,648
2,913

59.6
(4.7)

2,998
1,585

89.2
(1.1)

(2) Consolidated financial condition
Total assets

Net assets(Million yen)

Equity capital ratio(Million yen)%

Q1 FY ending March 2024
378,105
132,316
34.1
FY ended March 2023381,977
131,115
33.5
Reference: Equity: Q1 FY ending March 2024: ¥129,067 million; FY ended March 2023: ¥128,037 million

2. Dividends
End Q1(Yen)End Q2

Annual dividends
End Q3(Yen)

Year-end

Total(Yen)

(Yen)

(Yen)

FY ended March 2023
–0.00–
FY ending March 2024–
FY ending March 2024
0.00–(forecast)
Note: Revisions made in most recently announced dividend forecasts: None
Note: Dividend breakdown for the fiscal year ending March 31, 2024 (forecast)Ordinary dividend 43.00 yen
Commemorative dividend 5.00 yen

42.00

42.00

48.00

48.00

3. Forecast of consolidated financial results for the fiscal year ending March 31, 2024
(April 1, 2023 – March 31, 2024)
Net sales

Operating profit(Percentages represent changes from previous year.)
Profit attributable to Net income per
Ordinary profit
owners of parent
share(Million yen)
(Million yen)
(Yen)
%%%%
Cumulative through
270,000
2.5
8,000
0.4
7,800
4.0
second quarter
Full-year
600,000
4.8
24,00013.5
23,50014.0
Note: Revisions made in most recently announced forecasts of business performance: None(Million yen)

(Million yen)

4,200

1.4

44.51

13,50011.9

143.08

Notes(1) Changes made in significant subsidiaries during consolidated cumulative quarter under review:(2) Application of special accounting methods for preparation of quarterly consolidated financial statements(3) Changes made in accounting policies, accounting estimates, and/or restatements:(i) Changes in accounting policies associated with changes in accounting standards, etc.:(ii) Any changes in accounting policies other than those under (i) above:(iii) Changes in accounting estimates:(iv) Restatements:(4) Number of shares issued and outstanding (common stocks)(i) Number of shares issued and outstanding
Q1 FY endingat the end of the period (including treasury March 2024stock)(ii) Number of treasury stock at the end of the Q1 FY ending
March 2024
period(iii) Average number of shares during theQ1 FY ending
March 2024
period (quarterly cumulative)

None
None
None
None
None
None

101,669,400 shares

FY ended March2023

101,669,400 shares

7,319,175 shares

FY ended March2023

7,319,175 shares94,350,225 shares

Q1 FY ended
March 2023

94,350,273 shares* This quarterly summary of financial results is not subject to quarterly review by a Certified Public Accountant or anaudit firm.
* Information on appropriate use of financial forecasts and other special notes:• The forecasts of financial results and other forward-looking statements provided herein are based on information available at thetime this document was prepared, and certain assumptions considered reasonable. Actual results may differ significantly fromforecasts due to various factors. For assumptions underlying forecasts of financial results, notes on use of forecasts of financialresults, and other related information, please refer to “Information on consolidated financial forecasts and other forward-lookingstatements” on page 3 of the Annexed Materials.

SHIP HEALTHCARE HOLDINGS, INC. (3360): Summary of Financial Statements
for First Quarter of Fiscal Year Ending March 31, 2024

 Index of attached materials
1.

Qualitative information on quarterly results ..........................................................................................

2(1)

Description of business results ..............................................................................................................

2(2)Analysis of financial position ................................................................................................................

3(3)Information on consolidated financial forecasts and other forward-looking statements ........................

32.

Quarterly consolidated financial statements and notes thereto ..............................................................

4(1)Quarterly consolidated balance sheet .....................................................................................................

4(2)Quarterly consolidated statement of income and consolidated statement of comprehensive income ....

6(3)Notes on quarterly consolidated financial statements ............................................................................

8(Notes on the going concern assumption) ............................................................................................

8(Notes in the event of significant changes in the amount of shareholders' equity) ..............................

8(Segment information, etc.) .................................................................................................................

81

SHIP HEALTHCARE HOLDINGS, INC. (3360): Summary of Financial Statements
for First Quarter of Fiscal Year Ending March 31, 2024

1. Qualitative information on business results(1) Description of business results
The Japanese economy during the first quarter of the current consolidated cumulative period, showed signs ofnormalization in socioeconomic activities due to easing of restrictions on movement caused by the COVID-19.
On the other hand, the outlook remains uncertain due to the soring food, energy, and raw material prices and concerns
about further inflation with those price hikes caused by the situation in Russia and Ukraine and the prolonged situation ofdepreciation of the yen.
Healthcare industry in which the Group operates, due to the change in the position of COVID-19 under the Infectious
Diseases Act, reviews of the bed securing fee for medical institutions and special treatment fees have been implemented.
However, there is a continued demand to build an efficient and high-quality medical care system.
In the Group business under such conditions, the business performance largely progressed as planned due to smooth
progress of the projects in the Total Pack Produce business, etc.. Furthermore, the Group keep on promoting 4 core
strategic measures set forth in the medium-term management plan, “Further high growth of core business”, “Furtherexpand value”, “Functional organization enhancement strategy”, and “Activities for sustainability”.
For the first quarter of the current consolidated cumulative period, the various factors noted above resulted in net sales of
146,467 million yen (up 20.8% YoY), operating profit of 3,842 million yen (up 35.8% YoY), ordinary profit of 4,648
million yen (up 59.6% YoY), and profit attributable to owners of the parent of 2,998 million yen (up 89.2% YoY).
Business results by segment are summarized below.
(i) Total Pack Produce businessIn Total Pack Produce business, although the manufacturers were still affected by the long lead time in procuring
electrical components and soaring raw material prices, the projects were steadily progressed. Also, the number of newoutpatients and treatment cases in Osaka Heavy Ion Therapy Center increased due to the expansion of areas coveredby insurance from April 2022. In addition, the business results of Kingrun Group, which joined in the Group in Julylast year, has contributed since the first quarter consolidated cumulative period for this fiscal year.
As a result, this segment recorded net sales of 27,876 million yen (up 66.9% YoY) and segment profit (operatingprofit) of 1,326 million yen (up 112.6% YoY).
(ii) Medical Supply business
In Medical Supply business, the business was affected by the souring prices of raw materials and logistic costs,
however, demand for medical supplies recovered due to an increase in the number of surgical cases.
As a result, this segment recorded net sales of 101,771 million yen (up 12.5% YoY) and segment profit (operatingprofit) of 1,245 million yen (up 26.5% YoY).
(iii) Lifecare business
In Lifecare business, the nursing care homes maintained high occupancy rate, although it was affected by risingutility costs. Also, the sales increased in food supply due to the contribution of the performance of companies thatjoined the Group in the previous fiscal year.
As a result, this segment recorded net sales of 8,920 million yen (up 30.6% YoY) and segment profit (operatingprofit) of 564 million yen (up 6.2% YoY).
(iv) Dispensing Pharmacy business
In Dispensing Pharmacy business, the performance remained firm due to the new store openings and improvement inmanagement efficiency.
As a result, this segment recorded net sales of 7,899 million yen (up 9.5% YoY) and segment profit (operating profit)
of 737 million yen (up 15.0% YoY).

2

SHIP HEALTHCARE HOLDINGS, INC. (3360): Summary of Financial Statements
for First Quarter of Fiscal Year Ending March 31, 2024

(2) Analysis of Financial Position
Assets at the end of the consolidated first quarter under review stood at 378,105 million yen, down 3,871 million yen fromthe end of the previous consolidated fiscal year. The primary reasons for this decline included decreases of 18,690 million
yen in “notes, accounts receivable, and contract asset”, despite increases of 8,217 million yen in “cash and deposits”, 2,882
million yen in “investment securities”, 2,054 million yen in “merchandise and finished goods”.
Liabilities stood at 245,789 million yen, down 5,073 million yen from the end of the previous consolidated fiscal year. The
primary reasons for this decline included decreases of 9,685 million yen in “notes and accounts payable – trade”, 3,264
million yen in “income taxes payable”, despite increases of 5,222 million yen in “electronically recorded obligations –operating”.
Net assets stood at 132,316 million yen, up 1,201 million yen from the end of the previous consolidated fiscal year. The
primary reasons for this increase included decrease of 3,962 million yen in “retained earnings” due to payment of dividends,despite increase of 2,998 million yen in “retained earnings” from profit attributable to owners of parent, and 1,555 million
yen in “valuation differences on available-for-sale securities”.
As a result of all these factors, equity capital ratio at the end of the consolidated first quarter under review stood at 34.1%(up 0.6% from the end of the previous consolidated fiscal year)(3) Information on consolidated financial forecasts and other forward-looking statements
In general, business performance matched financial forecasts made at the start of the period. The consolidated financial
forecasts for the fiscal year remain unchanged from the forecasts announced on May 12, 2023.

3

SHIP HEALTHCARE HOLDINGS, INC. (3360): Summary of Financial Statements
for First Quarter of Fiscal Year Ending March 31, 2024

2. Quarterly consolidated financial statements and notes thereto(1) Quarterly consolidated balance sheet
Fiscal year ended
March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes, accounts receivable, and contract asset
Electronically recorded monetary claims – operating
Lease investment assets
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant, and equipment
Buildings and structures, net
Land
Real estate for rent, net
Other, net
Total property, plant, and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

4(Unit: Million yen)
Q1 Fiscal year ending March
31, 2024 (June 30, 2023)

80,839131,5395,374
3,102
21,3893,776
1,504
10,817(1,101)
257,241

89,056112,849
6,590
3,056
23,443
4,164
1,603
12,129(1,189)251,705

23,44618,20910,951
12,521
65,12723,65818,045
11,077
11,93664,717

12,3203,828
16,14912,0083,703
15,711

25,424
7,117
12,605(1,689)43,458124,735
381,977

28,307
7,077
12,283(1,696)45,972
126,400
378,105

SHIP HEALTHCARE HOLDINGS, INC. (3360): Summary of Financial Statements
for First Quarter of Fiscal Year Ending March 31, 2024

Fiscal year ended
March 31, 2023
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term loans payable
Income taxes payable
Provision for bonuses
Current portion of bonds with share acquisition rights
OtherTotal current liabilities
Non-current liabilities
Long-term loans payable
Net defined benefit liability
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders' equity
Accumulated other comprehensive income
Valuation differences on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustments
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

5(Unit: Million yen)
Q1 Fiscal year ending March
31, 2024 (June 30, 2023)

109,883
28,622
1,815
5,332
2,908
25,01623,441
197,020

100,197
33,845
1,752
2,067
2,992
25,01026,528
192,395

41,571
3,383
1,156
7,730
53,842
250,862

40,555
3,394
1,157
8,286
53,394
245,789

15,55323,533
100,158(15,526)
123,718

15,55323,447
99,194(15,526)
122,668

2,978
1
1,305
32
4,319
3,077
131,115
381,977

4,534
2
1,826
35
6,398
3,249
132,316
378,105

SHIP HEALTHCARE HOLDINGS, INC. (3360): Summary of Financial Statements
for First Quarter of Fiscal Year Ending March 31, 2024

(2) Quarterly consolidated statement of income and consolidated statement of comprehensive income
Quarterly consolidated statement of income
Consolidated cumulative first quarter

Net sales
Cost of sales
Gross profit
Sales, general, and administrative expenses
Operating profit
Non-operating profit
Interest income
Dividend income
Equity gains of affiliated companies
Foreign exchange profit
Other
Total non-operating profit
Non-operating expenses
Interest expenses
Equity losses of affiliated companies
Foreign exchange loss
Commission paid
OtherTotal non-operating expenses
Ordinary profit
Extraordinary profit
Gains on sales of non-current assets
Other
Total extraordinary profit
Extraordinary losses
Losses on retirement of non-current assets
Losses on change in equity
Losses on sales of subsidiary
Other
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitLosses attributable to non-controlling interests
Profit attributable to owners of parent

6

Three months ended
June 30, 2022
121,214
109,659
11,554
8,724
2,830(Unit: Million yen)Three months ended
June 30, 2023
146,467
132,331
14,136
10,294
3,842

79
107－－
102
288

80
138
530
82
126
959

76
3
113
8
3
205
2,913

110－
－
932
152
4,648

10
143－
43

62－
2
11
2,903
1,166
208
1,375
1,527
(57)
1,585

3－
129
0
133
4,558
1,405
157
1,563
2,995
(3)
2,998

SHIP HEALTHCARE HOLDINGS, INC. (3360): Summary of Financial Statements
for First Quarter of Fiscal Year Ending March 31, 2024

Quarterly consolidated statement of comprehensive income
Consolidated cumulative first quarter
Three months ended
June 30, 2022
1,527

(Unit: Million yen)Three months ended
June 30, 2023
2,995

303
1,013(4)
19
1,332
2,859

1,555
835
14
2,397
5,392

2,741
118

5,280111

Net income
Other comprehensive income
Valuation differences on available-for-sale securities
Foreign currency translation adjustments
Remeasurements of defined benefit plans
Share of other comprehensive income of entities accounted for using equity method
Total other comprehensive income
Comprehensive income(Breakdown)Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests

7

SHIP HEALTHCARE HOLDINGS, INC. (3360): Summary of Financial Statements
for First Quarter of Fiscal Year Ending March 31, 2024

(3) Notes on consolidated quarterly financial statements(Notes on the going concern assumption)
Not applicable(Notes on marked changes to shareholders' equity)
Not applicable(Segment information, etc.)[Segment information]
I.
1

Previous consolidated cumulative first quarter (April 1 – June 30, 2022)

Net sales and profit (loss) by reportable segments(Unit: Million yen)
Adjustments*1

Amountrecorded on
consolidated
financialstatements*2

Reportable segment
Total Pack
Producebusiness

MedicalSupplybusiness

Dispensing
Pharmacybusiness

Lifecarebusiness

Subtotal

Net sales(1) Sales to outside
customers(2) Intersegment sales ortransfers
Subtotal

16,70790,461

6,831

7,214

121,214－

121,214

564

371

18

23

978

(978)

－

17,271

90,832

6,849

7,238

122,192(978)121,214Segment profit
624
984
531
641
2,781
48
2,830
Notes:
1. The figure of 48 million yen in adjustments to segment profit includes (17) million yen for the cancellation of intersegment
transactions and 66 million yen for companywide costs not allocated to an individual reportable segment. These
companywide costs consist mainly of parent company operating expenses and sales, general, and administrative expenses
not attributable to individual reportable segments.
2. Segment profit is adjusted against the operating profit reported on the consolidated statement of income.
2

Information on impairment loss and goodwill on fixed assets by reportable segments
No material impairment losses, changes in the amount of goodwill, and material gains on negative goodwill on fixed assets
was recognized in the first quarter of the consolidated fiscal year.

8SHIP HEALTHCARE HOLDINGS, INC. (3360): Summary of Financial Statements
for First Quarter of Fiscal Year Ending March 31, 2024

II.
1

Consolidated cumulative first quarter under review (April 1 – June 30, 2023)

Net sales and profit (loss) by reportable segments(Unit: Million yen)
Adjustments*1

Amountrecorded on
consolidated
financialstatements*2

Reportable segment
Total Pack
Producebusiness

MedicalSupplybusiness

Dispensing
Pharmacybusiness

Lifecarebusiness

SubtotalNet sales(1) Sales to outsidecustomers(2) Intersegment sales ortransfers
Subtotal

27,876

101,771

8,920

7,899

146,467－

146,467

1,056

245

10

23

1,335

(1,335)－28,933102,016

8,930

7,923

147,803(1,335)

146,467

Segment profit
1,326
1,245
564
737
3,874
(32)
3,842
Notes:
1. The figure of (32) million yen in adjustments to segment profit includes (29) million yen for the cancellation ofintersegment transactions and (5) million yen for companywide costs not allocated to an individual reportable segment.
These companywide costs consist mainly of parent company operating expenses and sales, general, and administrative
expenses not attributable to individual reportable segments.
2. Segment profit is adjusted against the operating profit reported on the consolidated statement of income.
2

Information on impairment loss and goodwill on fixed assets by reportable segments
No material impairment losses, changes in the amount of goodwill, and material gains on negative goodwill on fixed assets
was recognized in the first quarter of the current consolidated fiscal year.

9