Financial Results for the Fiscal Year Ended March 31, 2024
Jun 21, 2024
MARUHAN Corporation(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2024(April 1, 2023 to March 31, 2024)(1) Consolidated Operating Results(% indicates changes from the previous period.)
Profit attributable toNet sales
Operating income
Ordinary income
owners of parent
millionmillionmillionmillion%%%%yenyenyenyenFiscal year ended
1,434,468
8.7
19,723
7.4
28,97519.9
14,20426.8
March 31, 2024
Fiscal year ended
1,319,633
3.8
18,359-24.7
24,171-21.2
11,200-22.8
March 31, 2023
(Note) Comprehensive income:Fiscal year ended March 31, 2024: 19,635 million yen (9.7%)
Fiscal year ended March 31, 2023: 17,899 million yen (-0.8%)
Net income pershare
Yen

Diluted net
income per share
Yen

Fiscal year ended
966.50March 31, 2024
Fiscal year ended
762.11March 31, 2023
(Reference) Equity in net income of affiliates:

Return on equity

Return on assets

Operating margin%%%

－4.2

3.4

1.4－3.43.1

1.4

Fiscal year ended March 31, 2024:
Fiscal year ended March 31, 2023:(2) Consolidated Financial Position
Total assets
million yen

Net assets

576 million yen
111 million yen

Equity ratio

million yen

Yen

39.7

23,785.58

40.4

22,752.98

Net cash provided by(used in) investing
activities
million yen

Net cash provided by(used in) financing
activities
million yen

Cash and cash
equivalents at end ofyear
million yen-33,323-18,140

221,629-36,600-13,189

224,198

Fiscal year ended
880,053
349,607
March 31, 2024
Fiscal year ended
828,410
334,404
March 31, 2023
(Reference) Shareholders' equity: Fiscal year ended March 31, 2024: 349,565 million yen
Fiscal year ended March 31, 2023: 334,389 million yen(3) Consolidated Cash FlowsNet cash provided by(used in) operating
activities
million yen
Fiscal year ended
39,243
March 31, 2024
Fiscal year ended
39,913
March 31, 2023

Net assets per share%- 1 -2.Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2024 (April 1, 2023 to March 31, 2024)(1) Non-consolidated Operating Results(% indicates changes from the previous period.)
Net sales
Operating income
Ordinary income
Net income
Fiscal year ended
March 31, 2024
Fiscal year ended
March 31, 2023

million yen%

million yen%million yen%million yen%

1,359,503

8.8

15,00335.8

22,64332.3

10,16762.4

1,249,600

3.2

11,050-5.5

17,115-2.0

6,261

11.4

Diluted net income per share

Net income per share
YenYenFiscal year ended March 31, 2024

691.80－Fiscal year ended March 31, 2023

426.09－(2) Non-consolidated Financial Position
Total assets
million yen

Net assets

Equity ratio

million yen

Fiscal year ended
409,723
282,097
March 31, 2024
Fiscal year ended
412,594
276,197
March 31, 2023
(Reference) Shareholder's equity: Fiscal year ended March 31, 2024: 282,097 million yen
Fiscal year ended March 31, 2023: 276,197 million yen- 2 -Net assets per share%

Yen

68.9

19,194.82

66.9

18,793.42

1. Consolidated Financial Statements(1) Consolidated Balance Sheets(Unit: million yen)
Current Fiscal Year(As of March 31, 2024)

Previous Fiscal Year(as of March 31, 2023)
AssetsCurrent assets
Cash and deposits
Accounts receivable-trade

228,040

230,853

1,319

1,611

－34

298,938

336,605

Merchandise

2,000

2,202

Raw materials and supplies

3,076

597

Prepaid expenses

5,736

5,702

Accounts receivable-other

1,245

3,728

Other

5,577

11,112

Allowance for doubtful accounts-5,335-6,961

Total current assets

540,598

585,487

Buildings and structures (net)88,57187,899Tools, furniture and fixtures (net)13,51517,705Land

59,05060,234

Golf courses

13,732

14,187

Construction in progress

3,474

4,046

Securities
Loans and bills discounted in banking business

Non-current assets
Property, plant and equipment

Other (net)

1,505

2,843

179,850

186,917

Goodwill
Leasehold right

7,458

8,760

4,428

4,328

Software

1,989

2,246

Other

3,193

3,867

Total intangible assets

17,07019,202

Investment securities

12,007

13,070Long-term loans receivable

26,64525,467

Total property, plant and equipment
Intangible assets

Investments and other assets

Long-term prepaid expenses
Guarantee deposits

745771

12,177

12,374

Construction assistance fund receivables

2,220

1,721

Deferred tax assets

34,07932,377

Other

3,280

2,942

Allowance for doubtful accounts

-264

-281

Total investments and other assets

90,891

88,445

287,812294,565

828,410880,053

Total non-current assets
Total assets- 3 -(Unit: million yen)Previous Fiscal Year(as of March 31, 2023)

Current Fiscal Year(As of March 31, 2024)

Liabilities
Current liabilities
Notes and accounts payable-trade

2,346

2,868

Electronically recorded obligations-operating

25,92921,432

Short-term loans payable

2,167

11,805Current portion of bonds

1,824

3,198

Current portion of long-term loans payable

42,98336,819Lease obligations

1,037

1,638

Accounts payable-other

11,30912,839Accrued expenses

10,35912,396

Income taxes payable

5,209

1,492

Accrued consumption taxes

1,996

3,850

Deposits received

12,20614,142

Provision for bonuses

2,494

2,415

Notes payable-facilities

841

662

Asset retirement obligations

1,840

136

Deposits in banking business

234,469

270,346

3,906

3,730

360,923399,734

Bonds payable

16,34814,331Long-term loans payable

80,87871,893

Lease obligations

7,044

7,199

Other
Total current liabilities
Non-current liabilities

230302

Provision for directors' retirement benefits

6,373

6,885

Net defined benefit liability

8,365

8,498

Asset retirement obligations

8,661

11,944

Other

5,179

9,655

133,082

130,710494,005

530,445

Capital stock

10,00010,000Capital surplus

2,126

2,160

Retained earnings

316,648

326,357

Treasury shares-4,253-4,253

Total shareholders' equity

324,521334,263

35401

Deferred tax liabilities

Total non-current liabilities
Total liabilities
Net Assets
Shareholders' equity

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment-10－

10,313

15,272Remeasurements of defined benefit plans

-469

-372

Total accumulated other comprehensive income

9,868

15,3011542334,404

349,607828,410880,053

Non-controlling interests
Total net assets
Total liabilities and net assets- 4 -(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Consolidated Statements of Income(Unit: million yen)Previous Fiscal Year
(From April 1, 2022
to March 31, 2023)

Current Fiscal Year
(From April 1, 2023
to March 31, 2024)

Net sales

1,319,633

1,434,468

Cost of sales

1,260,451

1,372,635

Gross profit

59,181

61,832

Selling, general and administrative expenses

40,822

42,109Operating income

18,35919,723753

1,524

Non-operating income
Interest and dividends income
Share of profit of entities accounted for using
equity method

111576

Foreign exchange gains

3,368

4,200

Rent income

1,604

1,701

Income from IC card receipts

218

228

Recoveries of previously written-off receivables

－

1,891

Other

1,430

1,159

Total non-operating income

7,487

11,282

Interest expenses

1,030

1,363

Rent expenses

330

335

Commission fee

83

120

Other

229

211

Non-operating expenses

Total non-operating expenses

1,674

2,030

24,171

28,975Gain on sales of non-current assets

210

8Gain on Reversal of lease obligations－69

Insurance income from loss on disaster－223

Ordinary income
Extraordinary income

OtherTotal extraordinary income

019211320

Extraordinary loss
Loss on sales of non-current assets
Loss on abandonment of non-current assets

24628

889

Loss on cancellation of leases

02

Loss on cancellation of rental contracts

65

116

Loss on disaster

72

17

Impairment loss

6,089

6,247

Loss on valuation of investment securities－186

Other－

9Total extraordinary loss

6,859

7,474

Income before income taxes

17,524

21,821

Income taxes-current

8,325

5,301

Income taxes-deferred-2,006

2,318

Total income taxes

6,319

7,620

Net income11,204

14,201

4-2

11,20014,204

Profit attributable to non-controlling interests
Profit attributable to owners of parent- 5 -Consolidated Statements of Comprehensive Income(Unit: million yen)Previous Fiscal Year
(From April 1, 2022
to March 31, 2023)
Net income

Current Fiscal Year
(From April 1, 2023
to March 31, 2024)

11,204

14,201

67245

Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

2110

Foreign currency translation adjustment

6,737

4,713

Remeasurements of defined benefit plans,net of tax-264

94

accounted for using equity method

133

370

Total other comprehensive income

6,694

5,433

17,89919,635

17,895

19,637

4-2

Share of other comprehensive income of associates

Comprehensive income:Comprehensive income attributable toComprehensive income attributable to owners of
the parent
Comprehensive income attributable to noncontrolling interests- 6 -