Nov. 8, 2023

Brief Financial Report for the Second Quarter Ending March 2024
[Based on Japanese Accounting Standards] (Consolidated)
Listed Company: PIOLAX Inc.
Code No.:

5988

Representative:(URL

https://www.piolax.co.jp)

President

Contact person in charge:

Yukihiko Shimazu
General Manager, Management & Planning Department

Toru Nagashima(Tel. 045-577-3880)

Estimated submission date of quarterly report: November 9, 2023
Date scheduled to start dividend payment:

December 1, 2023

Preparation of supplementary materials for quarterly financial results:
Information meeting for quarterly financial results to be held:

Yes

Yes (for corporate investors and investment analysts)(Amounts are rounded to the nearest million yen)

1. Consolidated performance for the second quarter ending March 31, 2024 (April 1, 2023 to September 30, 2023)(1) Consolidated business results (Total sum)

(Percentage changes from the same period the previous year)

Net sales

Net income attributable toowners of PIOLAX Inc.

Ordinary income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

30,966
27,707

11.8
-1.1

1,881
1,651

13.9
-44.9

2,3542,062

14.1-41.4

1,980
1,439

37.6-43.0

FY3/24 2Q
FY3/23 2Q

Note:

Operating income

Comprehensive income

FY3/24 2Q

6,064 million yen (-18.3%), FY 3/23 2Q

Quarter net income per
share
FY3/24 2Q
FY3/23 2Q

7,426 million yen (56.4%)

Quarter net income pershare-diluted

Yen

Yen

58.18
42.29-(2) Consolidate financial position
Total assets

Net assets
Millions of yen%

119,988
115,458

108,369
104,25088.9
88.9

FY3/24 2Q
FY3/23(Reference) Equity capital:

FY3/24 2Q

Equity capital ratio

Millions of yen

106,697 million yen, FY 3/23

102,670 million yen

2. Cash dividends
Annual dividends
End of first quarterEnd of second quarterEnd of third quarter

Term end

Full yearYenYenYen

Yen

Yen-

43.00
69.00

-

57.00

100.00-50.00

119.00FY3/23
FY3/24
FY3/24 (Forecast)

Note: 1. Changes in the latest forecasts released: Yes
2. The end of second quarter dividend for the fiscal year ending March 31, 2024 (forecast) includes a 90th anniversarycommemorative dividend of 10.00 yen.

3. Forecast consolidated performance for the year ending March 31, 2024 (April 1, 2023 to March 31, 2024)
Net sales
Annual(Percentage changes from the same period of the previous year)
Net income
Net income attributable toper shareowners of PIOLAX Inc.

Operating income

Ordinary income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

63,900

9.4

4,200

6.3

5,000

2.7

3,700

9.6

108.69Note: Changes in the latest forecasts released: Yes- 1 -PIOLAX Inc. (5988) Brief Financial Report for the Second Quarter Ending March 2024

2. [Quarterly consolidated financial statement](1) Quarterly consolidated balance sheet(Millions of Yen)

Previous consolidated FY

Current second quarter(March 31, 2023)(September 30, 2023)

AssetsCurrent assets
Cash and cash equivalents

36,97337,558Notes and accounts receivable-trade

13,54913,992

Electronically recorded monetary claims-operating

1,640

1,983

Marketable securities

1,864

1,693

Goods and Finished products

5,554

5,238

Material in progress

2,186

2,075

Raw materials and inventory goods

3,047

3,056

Income taxes receivable
Other322351

1,806

2,375

-38

-3666,906

68,289Buildings and structures (net)

7,816

7,844

Machinery equipment and vehicles (net)

6,796

6,988

Tools, furniture and fixture (net)

2,431

2,530

Land

5,830

5,883

Allowance for bad loans
Total current assets
Fixed assets
Tangible fixed assets

415

458

Construction in progress

2,224

4,327

Total tangible fixed assets

25,51428,032

Other

1,607

1,593

Total intangible fixed assets

1,607

1,593

Investment account securities

20,064

20,724

Other

1,374

1,349

Lease asset (net)

Intangible fixed assets

Investments and other assets

Allowance for bad loans
Total investments and other assets
Total fixed assets
Total assets- 2 --8-0

21,42922,07448,551

51,699115,458

119,988

PIOLAX Inc. (5988) Brief Financial Report for the Second Quarter Ending March 2024

(Millions of Yen)

Previous consolidated FY

Current second quarter(March 31, 2023)(September 30, 2023)

Liabilities
Current liabilities
Accounts payable-trade

2,756

3,072

Accrued income taxes

282

344

Allowance reserve

936

944

Asset removal liabilities

1812

Other4,287

4,148

Total current liabilities

8,281

8,522

Allowance reserve

113

135

Net defined benefit liability

269

320

Asset removal liabilities

100100

2,443

2,539

Long-term liabilities

Other

2,927

3,096

11,208

11,619Common stock

2,960

2,960

Capital surplus

2,572

2,634

Retained earnings

94,362

94,397

Total long-term liabilities
Total liabilities
Total equity
EquityTreasury stock-4,670-4,732

Total shareholders’ equity

95,225

95,261

1,009

1,578

Accumulated other comprehensive income
Unrealized gain 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 equity
Total liabilities and equity- 3 --0-1

6,375

9,791

59

68

7,445

11,436

1,579

1,671

104,250

108,369

115,458

119,988

PIOLAX Inc. (5988) Brief Financial Report for the Second Quarter Ending March 2024

(2) Consolidated Statements of Income[FY2024 second quarter](Millions of Yen)

Previous second quarter

Current second quarter(April 1, 2022 to September 30, 2022)(April 1, 2023 to September 30, 2023)

Net sales

27,70730,966

Cost of sales

20,86923,510Gross profit

6,838

7,455

Selling, general and administrative expenses

5,187

5,574

Operating income

1,651

1,881

Interest income

76

245

Dividend income

2937

Equity method investment gain

341

335

Other

153

204

Total non-operating income

600

822

Non-operating income

Non-operating expenses
Interest expense

85

Loss on disposal of property and equipment

712

Loss on valuation of derivatives-1

Cost of lease revenue

22

Foreign exchange loss155192-

115

Building demolition expense
Other

14

19

Total non-operating expenses

189

349

2,062

2,354

34

-

Ordinary income
Extraordinary loss
Impairment loss
Total extraordinary loss
Quarterly net income before taxes and other adjustments
Corporate taxes
Net income before non-controlling interests

34-

2,028

2,354

570

347

1,458

2,006

Net income attributable to non-controlling interests

1825

Net income attributable to owners of PIOLAX Inc.

1,439

1,980

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