Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Three Months Ended June 30, 2024
(Based on Japanese GAAP)
August 2, 2024
Company name:Dream Incubator Inc.

Stock exchange listing: Tokyo
Stock code:
4310
Representative:
Inquiries:

URL

https://www.dreamincubator.co.jp

Representative Director & President
Executive Officer, Corporate

Takayuki Miyake
Toshihiro Uemura

Scheduled date to commence dividend payments:
Preparation of supplementary material on financial results:–Yes

Holding of financial results meeting:

NoTEL

03-5532-3200(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended June 30, 2024 (from April 1, 2024 to June 30, 2024)(1) Consolidated operating results (cumulative)

Three months ended June 30, 2024
Three months ended June 30, 2023

Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
1,626
38.5
48–56
–(75)
–
1,174 (86.9)(182)–(190)–(187)–Earnings per share

Diluted earnings per share

Yen(8.60)(19.45)Three months ended June 30, 2024
Three months ended June 30, 2023

Yen––(2) Consolidated financial position
Total assets
As of June 30, 2024
As of March 31, 2024

Net assets

Millions of yen
16,671
17,454Equity ratio

Millions of yen
14,175
15,208%83.7
86.2

2. Cash dividends
Annual dividends per share

Year ended March 31, 2024
Year ending March 31, 2025

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen
0.00
0.00

Yen
0.00

Yen
0.00

Yen
128.00Yen
128.00106.00–––Year ending March 31, 2025 (Forecast)

1Total3. Notes(1) Significant changes in the scope of consolidation during the three months ended June 30, 2024:(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

NoNo(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:

Yes
No

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2024

9,534,316 shares As of March 31, 2024

10,465,100 shares

756,936 shares As of March 31, 2024

1,705,656 shares

Number of treasury shares at the end of the period
As of June 30, 2024

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2024

8,772,730 shares Three months ended June 30, 2023

2

9,656,402 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2024

As of June 30, 2024

AssetsCurrent assets
Cash and deposits

6,428

4,681

Notes and accounts receivable - trade, and contract assets
Operational investment securities

1,407
3,589

1,1153,676

Securities
Allowance for investment loss

5,300(103)6,300(103)

342

519

16,965

16,190

259

246

Other

66

Total intangible assets

66

Investment securities
Deferred tax assets

65
365
3

Other

154

159

Total investments and other assets

223

228

Other
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets

Investments and other assets

Total non-current assets
Total assets

3489

481

17,454

16,671

(Millions of yen)
As of March 31, 2024

As of June 30, 2024

Liabilities
Current liabilities
Income taxes payableProvision for shareholder benefit program

39
19

46
7

Provision for bonuses
Provision for bonuses for directors (and other officers)

129

129

Other776

1,001

Total current liabilities

866

1,085

Deferred tax liabilities
Provision for share awards

285
1,094

324
1,085

Total non-current liabilities

1,379

1,410

2,246

2,496

Shareholders' equity
Share capital

5,019

5,019

Capital surplus
Retained earnings

4,548
8,826

2,009
7,495

Non-current liabilities

Total liabilities
Net assets

Treasury shares(4,155)(1,537)

Total shareholders' equity

14,23912,987

Valuation difference on available-for-sale securities
Foreign currency translation adjustment

804
(1)

938
36

Total accumulated other comprehensive income

803

974

Accumulated other comprehensive income

Non-controlling interests
Total net assets
Total liabilities and net assets

4165

213

15,20814,175

17,454

16,671

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)Three months ended
June 30, 2023
Net sales

Three months ended
June 30, 2024

1,174

1,626

Cost of sales

740

859

Gross profit

433

766

Selling, general and administrative expenses

615

718

Operating profit (loss)

(182)

48

Non-operating income
Interest income

76

Other

12

Total non-operating income

89Interest expenses
Commission expenses

04––

Foreign exchange losses
Other

110

00

Non-operating expenses

160

Ordinary profit (loss)

Total non-operating expenses

(190)

56

Profit (loss) before income taxes

(190)

56

Income taxes - current

159

Income taxes - deferred

1(1)Total income taxes

178(208)

48

Profit (loss) attributable to non-controlling interests

(20)

124

Loss attributable to owners of parent

(187)

(75)

Profit (loss)

5

Consolidated statements of comprehensive income (cumulative)(Millions of yen)Three months ended
June 30, 2023

Three months ended
June 30, 2024

Profit (loss)

(208)

48

Other comprehensive income
Valuation difference on available-for-sale securities

319

137

Foreign currency translation adjustment

38

38

Total other comprehensive income

357

175

Comprehensive income

149

224

Comprehensive income attributable toComprehensive income attributable to owners of parent132

95

16128

Comprehensive income attributable to non-controllinginterests

6