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 1, 2024
Company name:
SATOSHOJI CORPORATION
Stock exchange listing: Tokyo
Stock code:
Representative:

8065
URL http://www.satoshoji.co.jp
Representative Director, President
Tetsuo Nozawa

Inquiries:
General Manager of Financial Dept.
Scheduled date to commence dividend payments:

Akihito Okeda–Preparation of supplementary material on financial results:
Holding of financial results meeting:

NoNo

TEL

03-5218-5312(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)
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%Three months ended June 30, 2024
68,5702.7
1,194 (11.4)
1,551
(4.7)
1,693
45.0
Three months ended June 30, 2023
66,769
2.7
1,348
4.8
1,628
(2.6)
1,167
0.8
Earnings per share

Diluted earnings per share

Yen
80.58
55.38

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

Yen
78.94
54.12

(2) Consolidated financial position
Total assets

Net assets

Millions of yen
176,589
172,870

As of June 30, 2024
As of March 31, 2024

Equity ratio

Millions of yen65,917
65,202%37.2
37.5

2. Cash dividends
Annual dividends per share
1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
32.00

Yen–

Yen
41.00

Yen
73.00

34.00

–

34.00

68.00

Year ended March 31, 2024
Year ending March 31, 2025
Year ending March 31, 2025 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)
Net sales
Millions of yen
Six months ending
September 30, 2024
Full year

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
Earnings per shareowners of parent% Millions of yen% Millions of yen% Millions of yen%Yen

136,000

0.4

2,650(6.7)

2,850(8.8)

2,550(8.5)

120.85

285,000

4.0

6,550

1.1

6,850(6.1)

5,350(17.4)

253.551

4. Notes(1) Significant changes in the scope of consolidation during the three months ended June 30, 2024:

No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
No
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

No
No

Restatement of prior period financial statements:

No(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

21,799,050 shares As of March 31, 2024

21,799,050 shares

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

669,953 shares As of March 31, 2024

764,743 shares

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

21,022,352 shares Three months ended June 30, 2023

221,088,558 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
Notes receivable - trade

3,175
6,298

4,105
5,750

Electronically recorded monetary claims - operatingAccounts receivable - trade

31,39553,72031,65454,752Merchandise and finished goods
Other

28,956
4,933

30,136
5,280

Allowance for doubtful accounts

(212)

(328)

128,267

131,352

6,115

6,022

Land
Other, net

13,001
2,544

14,5502,999

Total property, plant and equipment

Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net

21,661

23,572Intangible assets
Investments and other assets

186

311

Investment securities
Deferred tax assets

20,49890

18,95778

Retirement benefit asset
Other

1,079
1,157

1,054
1,342

Allowance for doubtful accounts

(71)

(80)

Total investments and other assets

22,75521,352

Total non-current assets
Total assets

3

44,602

45,236

172,870

176,589

(Millions of yen)
As of March 31, 2024

As of June 30, 2024

Liabilities
Current liabilities
Accounts payable - trade55,17856,122

Electronically recorded obligations - operating
Short-term borrowings

13,127
18,165

13,27019,935

Income taxes payable
Contract liabilities

1,147
451

1,028
1,027

Provision for bonuses
Other1,489
2,570

740
3,860

Total current liabilities

92,12895,984Non-current liabilities
Long-term borrowings

10,657

10,194

4,311
172

3,898
207

58

59

Deferred tax liabilities
Retirement benefit liability
Provision for retirement benefits for directors (and otherofficers)
Other

338

326

15,538

14,686

107,667

110,671

Share capital
Capital surplus

1,321
818

1,321
748

Retained earnings
Treasury shares

51,919(872)

52,778(806)

Total shareholders' equity

53,18654,041

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

Accumulated other comprehensive income
Valuation difference on available-for-sale securities

9,920

9,448

Deferred gains or losses on hedges
Foreign currency translation adjustment

01,7111
2,160

Total accumulated other comprehensive income

11,632

11,610

369
14250
15

65,202

65,917

172,870

176,589

Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets

4Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)Three months ended

Three months ended

June 30, 2023

June 30, 2024

Net sales
Cost of sales

66,76961,761

68,57063,543Gross profit

5,007

5,026

Selling, general and administrative expenses

3,659

3,832

Operating profit

1,348

1,194

Interest income
Dividend income

1307

6338

Rental income
Purchase discounts

31
1027
9

Share of profit of entities accounted for using equity method
Foreign exchange gains

10–

2144

Non-operating income

Other20

20

Total non-operating income

382

467

Interest expenses
Loss on sale of trade receivables

66
669
1

Rental expenses
Foreign exchange losses

12122–

Non-operating expenses

Other

15

17

Total non-operating expenses

102110

1,628

1,551

Ordinary profit
Extraordinary income
Gain on sale of non-current assets

2477

Gain on sale of investment securities

17333

Total extraordinary income

19810

Loss on sale and retirement of non-current assets
Loss on sale of investment securities

03

46

Provision of allowance for investment loss

15–

Extraordinary losses

Total extraordinary losses
Profit before income taxes

1911

1,627

2,350

Income taxes - current

643874

Income taxes - deferred(183)(218)

Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

5459

656

1,168

1,694

00

1,167

1,693

Consolidated statements of comprehensive income (cumulative)(Millions of yen)

ProfitOther comprehensive income

Three months ended

Three months ended

June 30, 2023

June 30, 2024
1,168

1,694

1,553
12(471)
1362

438

5

9

1,934

(21)

Comprehensive income

3,102

1,673

Comprehensive income attributable toComprehensive income attributable to owners of parent

3,101

1,671

11Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Share of other comprehensive income of entities accounted
for using equity method
Total other comprehensive income

Comprehensive income attributable to non-controllinginterests

6