Disclaimer: This document is an English translation of the original document in Japanese and has been prepared solely for reference
purposes. In the event of any discrepancy between this English translation and the original in Japanese, the original shallprevail in all respects.

Summary of Financial Statements
for First Quarter of Fiscal Year Ending March 31, 2025 [Japanese GAAP](Consolidated)
August 9, 2024
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 start date for dividend payments: Supplementary briefing materials on results: None
Briefing 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, 2025
(April 1, 2024 – June 30, 2024)(1) Consolidated operating results (cumulative total)
Net sales(Million yen)

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

Operating profit%(Million yen)%

(Million yen)

Q1 FY ending March 2025
155,219
6.0
3,502
(8.8)
Q1 FY ended March 2024
146,467
20.8
3,842
35.8
Note: Comprehensive income: Q1 FY ending March 2025: ¥ 3,365 million ((37.6) %)Q1 FY ended March 2024: ¥ 5,392 million (88.6 %)Diluted net
Net income per shareincome per share
(Yen)

4,485
4,648

%

(Million yen)

%

(3.5)
59.6

3,065
2,998

2.2
89.2

(Yen)

Q1 FY ending March 2025
32.49
Q1 FY ended March 2024
31.78
28.81
Note: Diluted net income per shares in Q1 FY ending March 2025 are not stated because there are no outstanding potential shares.

(2) Consolidated financial condition
Total assets

Net assets(Million yen)

Equity capital ratio(Million yen)%

Q1 FY ending March 2025
377,014140,363
36.7
FY ended March 2024
386,819
142,21636.1
Reference: Equity: Q1 FY ending March 2025: ¥138,223 million; FY ended March 2024: ¥139,516 million

2. Dividends
End Q1End Q2(Yen)

Annual dividends
End Q3(Yen)

Year-end

Total

(Yen)

(Yen)

(Yen)

FY ended March 2024–
0.00–
FY ending March 2025–
FY ending March 2025
0.00–
(forecast)
Note: Revisions made in most recently announced dividend forecasts: None
Note: Dividend breakdown for the end of the fiscal year ended March 31, 2024
Ordinary dividend 45.00 yen
Commemorative dividend 5.00 yen

50.00

50.00

53.00

53.00

3. Forecast of consolidated financial results for the fiscal year ending March 31, 2025
(April 1, 2024 – March 31, 2025)
Net sales
Cumulative throughsecond quarter
Full-year(Percentages represent changes from the same quarter of the previous year.)
Profit attributable to Net income per
Operating profit
Ordinary profit
owners of parent
share(Million yen)
(Million yen)
(Yen)
% (Million yen)%%

(Million yen)%

300,000

1.1

8,500

(8.0)

8,500

(16.0)

5,000

35.6

52.99

640,000

1.4

26,0006.0

26,0003.1

15,0008.8

158.98

Note: Revisions made in most recently announced forecasts of business performance: None

Notes(1) Significant changes in the scope of consolidation during consolidated cumulative quarter:
Yes
Newly joined – companies (Name of company) –Out of consolidation 2 companies (Notes)(Notes) Details are in the attached document Page 9 “Changes in the scope of consolidation or of application of equity
method”(2) Application of special accounting methods for preparation of quarterly consolidated financial statements
None(3) Changes made in accounting policies, accounting estimates, and/or restatements:(i) Changes in accounting policies associated with changes in accounting standards, etc.:
Yes(ii) Any changes in accounting policies other than those under (i) above:None(iii) Changes in accounting estimates:None(iv) Restatements:
None(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 2025
stock)(ii) Number of treasury stock at the end of the Q1 FY ending
March 2025
period(iii) Average number of shares during theQ1 FY ending
March 2025
period (quarterly cumulative)

101,669,400 shares

FY ended March
2024

101,669,400 shares

7,319,175 shares

FY ended March
2024

7,319,175 shares

94,350,225 shares

Q1 FY ended
March 2024

94,350,225 shares* Review of the attached quarterly consolidated financial statements by a Certified Public Accountant or an audit
firm :Yes (arbitrary)* 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. We don’t intend to promise the achievement ofthem. Actual results may differ significantly from forecasts due to various factors. For assumptions underlying forecasts offinancial results, notes on use of forecasts of financial results, and other related information, please refer to “Information on
consolidated financial forecasts and other forward-looking statements” 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, 2025

 Index of attached materials
1.

Outlook of business results ....................................................................................................................

2(1)

Outlook of business results of consolidated cumulative quarter ............................................................

2(2)

Outlook of financial position of consolidated cumulative quarter .........................................................

3(3)

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

3

2.

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 changes of accounting policies ............................................................................................

8(Notes on segment information, etc.) .....................................................................................................

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

9(Notes on the going concern assumption)

9(Notes on statements of Cash Flows)9(Changes in the scope of consolidation or of application of equity method)

91

SHIP HEALTHCARE HOLDINGS, INC. (3360): Summary of Financial Statements
for First Quarter of Fiscal Year Ending March 31, 2025

1. Outlook of business results(1) Outlook Description of business results of consolidated cumulative quarter
The Japanese economy during the first quarter of the current consolidated cumulative period, showed signs of a moderate
recovery, supported by improvements in employment and income environments, as well as the effect of policies.
However, the outlook remains uncertain due to continued inflation and the impact of rising consumer prices driven by yen
depreciation.
Healthcare industry in which the Group operates, various policies such as the 8th national medical plan, the 4th Phase
Medical Cost Optimization Plan, and reforms in doctors’ work styles has been launched. There is a continued demand tobuild 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, this year is the final year of our Mediumterm management plan “SHIP VISION 2024”, the Group had kept on promoting 4 core strategic measures set forth in theplan, “Further high growth of core business”, “Further expand 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 of155,219 million yen (up 6.0% YoY), operating profit of 3,502 million yen (down 8.8% YoY), ordinary profit of 4,485
million yen (down 3.5% YoY), and profit attributable to owners of the parent of 3,065 million yen (up 2.2% YoY).
Business results by segment are summarized below.
(i) Total Pack Produce businessIn Total Pack Produce business, the projects were steadily progressed. However, contribution from the Myanmar
business were not included from this fiscal year, and there was a reactionary decrease from concentration of deals
with some manufacturers during the end of the previous FY, resulting in a decrease in profits compare with same
period last year.
As a result, this segment recorded net sales of 25,307 million yen (down 9.2% YoY) and segment profit (operating
profit) of 1,098 million yen (down 17.2% YoY).
(ii) Medical Supply business
In Medical Supply business, there were decreases in profits because sales of equipment decreased YoY whereas
several new SPD cases started.
As a result, this segment recorded net sales of 112,613 million yen (up 10.7% YoY) and segment profit (operating
profit) of 963 million yen (down 22.7% YoY).
(iii) Lifecare business
In Lifecare business, in the nursing care business, the nursing care homes maintained high occupancy rate even after
the review of administration fee. In the food provision service, strategic restructuring of the business allowed us toovercome the rise in food prices, leading to increased sales and profits.
As a result, this segment recorded net sales of 9,135 million yen (up 2.4% YoY) and segment profit (operating profit)of 620 million yen (up 9.8% 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 8,162 million yen (up 3.3% YoY) and segment profit (operating profit)of 793 million yen (up 7.6% YoY).

2

SHIP HEALTHCARE HOLDINGS, INC. (3360): Summary of Financial Statements
for First Quarter of Fiscal Year Ending March 31, 2025

(2) Outlook Analysis of financial position of consolidated cumulative quarter
Assets at the end of the consolidated first quarter stood at 377,014 million yen, down 9,805 million yen from the end of theprevious consolidated fiscal year. The primary reasons for this decline included decreases of 18,313 million yen in “notes,
accounts receivable, and contract asset”, despite increases of 2,709 million yen in “merchandise and finished goods”, 1,966
million yen in “cash and deposits”, 1,594 million yen in “Work in process” 1,241 million yen in “investment securities”.
Liabilities stood at 236,651 million yen, down 7,952 million yen from the end of the previous consolidated fiscal year. The
primary reasons for this decline included decreases of 7,324 million yen in “notes and accounts payable – trade”, 3,373
million yen in “income taxes payable”, despite increases of 4,124 million yen in “electronically recorded obligations –operating”.
Net assets stood at 140,363 million yen, down 1,852 million yen from the end of the previous consolidated fiscal year. The
primary reasons for this increase included decrease of 4,717 million yen in “retained earnings” due to payment of dividends,
despite increase of 3,065 million yen in “retained earnings” from profit attributable to owners of parent.
As a result of all these factors, equity capital ratio at the end of the consolidated first quarter stood at 36.7% (up 0.6% fromthe 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 10, 2024.

3

SHIP HEALTHCARE HOLDINGS, INC. (3360): Summary of Financial Statements
for First Quarter of Fiscal Year Ending March 31, 2025

2. Quarterly consolidated financial statements and notes thereto(1) Quarterly consolidated balance sheet
Fiscal year ended
March 31, 2024
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, 2025 (June 30, 2024)

85,072
124,457
6,230
2,953
21,032
3,763
1,979
14,585(49)
260,023

87,038106,144
7,312
2,951
23,742
5,358
2,149
15,268(118)
249,847

22,984
18,163
10,89911,25763,30522,85618,153
10,841
11,19563,047

10,573
3,515
14,08810,081
3,410
13,492

29,414
9,775
11,992(1,780)49,402
126,795
386,819

30,655
9,827
11,925(1,781)
50,627
127,167
377,014SHIP HEALTHCARE HOLDINGS, INC. (3360): Summary of Financial Statements
for First Quarter of Fiscal Year Ending March 31, 2025

Fiscal year ended(March 31, 2024)
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term loans payable
Income taxes payable
Provision for bonuses
Other
Total 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, 2025 (June 30, 2024)

109,144
37,959
708
4,728
2,990
25,633
181,165

101,820
42,084
721
1,355
3,008
25,202
174,193

50,459
3,462
1,175
8,340

49,269
3,493
1,178
8,515

63,438244,60362,457
236,651

15,553
23,585
109,985(15,526)

15,553
23,575
108,333(15,526)

133,597

131,935

5,863
2
(42)
95
5,919
2,699
142,216
386,819

6,245
2
(49)
89
6,288
2,139
140,363
377,014SHIP HEALTHCARE HOLDINGS, INC. (3360): Summary of Financial Statements
for First Quarter of Fiscal Year Ending March 31, 2025

(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
Commission paid
Other
Total non-operating expenses
Ordinary profit
Extraordinary profit
Gains on sales of non-current assets
Total extraordinary profit
Extraordinary losses
Loss on sales of non-current assets
Losses on retirement of non-current assets
Losses on sales of subsidiary
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, 2023
146,467
132,331
14,136
10,294
3,842(Unit: Million yen)Three months ended
June 30, 2024
155,219
141,530
13,68910,186
3,502

80
138
530
82
126
959

75
128
652
170
112
1,139

110
9
32
152
4,648

123
32
156
4,485

43
43

0
0

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

2
1
3
4,482
1,150
326
1,476
3,005
(59)
3,065

SHIP HEALTHCARE HOLDINGS, INC. (3360): Summary of Financial Statements
for First Quarter of Fiscal Year Ending March 31, 2025

Quarterly consolidated statement of comprehensive income
Consolidated cumulative first quarter
Three months ended
June 30, 2023
2,995

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(Unit: Million yen)Three months ended
June 30, 2024
3,005

1,555
835
1
4
2,397
5,392

381
(16)
(2)
(2)
359
3,365

5,280
111

3,434
(68)

SHIP HEALTHCARE HOLDINGS, INC. (3360): Summary of Financial Statements
for First Quarter of Fiscal Year Ending March 31, 2025

(3) Notes on consolidated quarterly financial statements(Notes on changes of accounting policies)“Accounting Standard for Corporate, Inhabitant and Enterprise Taxes” (corporate accounting standards No. 27, October 28th
2022 ) , “Accounting Standard for Presentation of Comprehensive Income” (corporate accounting standards No. 25, October 28th2022) and “Guidance on Accounting Standard for Tax Effect Accounting” (guidance of corporate accounting standards No. 28,
October 28th 2022) have been adopted from the start of the first quarter of the current consolidated cumulative period. There isno effect toward the Quarterly consolidated financial statements by the changes of these accounting policies.

(Notes on Segment information, etc.)
Previous consolidated cumulative first quarter (April 1 – June 30, 2023)

I.
1

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

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 each 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 Quarterly 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.

8

SHIP HEALTHCARE HOLDINGS, INC. (3360): Summary of Financial Statements
for First Quarter of Fiscal Year Ending March 31, 2025

Ⅱ

Consolidated cumulative first quarter (April 1 – June 30, 2024)
1

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

25,307

112,613

9,135

8,162

155,219－

155,219

545

588

12

27

1,175

(1,175)－25,852

113,202

9,148

8,190

156,394(1,175)

155,219

Segment profit
1,098
963
620
793
3,476
26
3,502
Notes:
1. The figure of 26 million yen in adjustments to segment profit includes (31) million yen for the cancellation ofintersegment transactions and 48 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 Quarterly 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.

(Notes in the event of significant changes in the amount of shareholders' equity)
None(Notes on the going concern assumption)
None(Notes on statements of Cash Flows)
We don’t have statements of Quarterly consolidated Cash Flows during consolidated cumulative quarter. Depreciation andamortization of the period (including depreciation expense of intangible assets and excluding goodwill) and amortization of
goodwill are below:

Depreciation and amortization
Amortization of goodwill

Previous consolidated cumulative firstquarter (April 1 – June 30, 2023)
1,313 million yen
530 million yen

Consolidated cumulative first quarter(April 1 – June 30, 2024)
1,321 million yen
492 million yen(Changes in the scope of consolidation or of application of equity method)(Changes in the scope of consolidation)
During the first quarter of this consolidated fiscal year, our consolidated subsidiary, SHIP HEALTHCARE PHARMACY EAST
JAPAN, INC., absorbed and merged C.M.J, Ltd. and FRIENDS, Ltd., which were consolidated subsidiary companies of ourgroup.

9