FUJI KYUKO CO．，LTD．

Note: This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy
between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results
for the Nine Months Ended December 31, 2023
[Japanese GAAP]
February 7, 2024
Company name: FUJI KYUKO CO., LTD.
Stock exchange listing: Tokyo
Code number: 9010
URL: https://www.fujikyu.co.jp
Representative: Koichiro Horiuchi

Representative Director and President
Director, Executive Officer, in charge of Management &Administration Department

Contact: Masao Amemiya

Phone: +81-555-22-7120
Scheduled date of filing quarterly securities report: February 13, 2024
Scheduled date of commencing dividend payments: Availability of supplementary briefing material on quarterly financial results: No
Schedule of quarterly financial results briefing session: No(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Nine Months Ended December 31, 2023 (April 1, 2023 to December 31, 2023)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable toOperating revenues
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Nine months ended
December 31, 2023
39,027
22.4
7,203
124.1
7,048
130.6
4,701
165.2
December 31, 2022
31,875
18.9
3,213
198.5
3,055
256.2
1,772
236.7
(Note) Comprehensive income:Nine months ended December 31, 2023:¥5,668 million [185.5%]
Nine months ended December 31, 2022:¥1,985 million [275.1%]
Basic earningsper share
Nine months ended
December 31, 2023
December 31, 2022

Diluted earnings pershare
Yen

Yen

88.55
33.39

-(2) Consolidated Financial Position
Total assets
As ofDecember 31, 2023
100,024
March 31, 2023
100,746(Reference) Equity: As of December 31, 2023:
As of March 31, 2023:

Millions of yen

Net assets

Capital adequacy ratio

Millions of yen¥¥

31,64526,78430,654 million
25,879 million

%

30.6
25.7

FUJI KYUKO CO．，LTD．

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

YenYenYen

Yen

Yen

Fiscal year ended March 31, 2023

---

15.00

15.00

Fiscal year ending March 31, 2024

--

18.00

18.00

Year-end

Fiscal year ending March 31, 2024
(Forecast)(Note) Revision to the forecast for dividends announced most recently:
No(Note) Breakdown of the 3rd quarter dividend for the fiscal year ending March 31, 2024 :Commemorative dividend- yenSpecial dividend
- yen

Total

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024(April 1, 2023 to March 31, 2024)(% indicates changes from the previous corresponding period.)
Profit attributable to Basic earnings per
Operating revenues Operating profit
Ordinary profit
owners of parent
shareMillions ofyen%Millions ofyen%Millions ofyen

Full year
49,800
16.0
7,500
76.7
7,250
(Note) Revision to the financial results forecast announced most recently:
Yes%

Millions ofyen%

Yen

80.9

4,000

72.5

75.33

* Notes:(1) Changes in significant subsidiaries during the nine months ended December 31, 2023
(changes in specified subsidiaries resulting in changes in scope of consolidation):
NoNew(Company name:
Exclusion:(Company name:(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: No
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):December 31, 2023:
54,884,738 shares
March 31, 2023:
54,884,738 shares
2) Number of treasury shares at the end of the period:
December 31, 2023:
1,786,763 shares
March 31, 2023:
1,784,412 shares
3) Average number of shares outstanding during the period:
Nine months ended December 31, 2023:
Nine months ended December 31, 2022:

53,099,201 shares
53,100,173 shares))
NoFUJI KYUKO CO．，LTD．

Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets(Thousands of yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract
assetsLand and buildings for sale in lots
Merchandise and finished goods
Work in process
Raw materials and supplies
Costs on construction contracts in progress
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, netMachinery, equipment and vehicles, net
Land
Leased assets, net
Construction in progress
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Retirement benefit asset
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Deferred assets
Bond issuance costs
Total deferred assets
Total assets

As of December 31, 2023

19,060,537

18,158,070

3,990,004

3,767,594

8,528,982
672,946
79,764
775,536
145,916
1,455,003(15,294)
34,693,397

8,523,897
761,877
147,450
865,687
400,347
1,501,974(19,309)
34,107,589

26,747,228
4,963,840
15,759,939
1,528,622
3,664,770
1,667,360
54,331,762
2,763,466

27,168,569
7,518,186
15,759,924
1,042,428
466,261
1,833,101
53,788,472
2,794,648

6,263,870
1,902,785
788,447(24,660)
8,930,443
66,025,672

7,421,395
1,022,674
32,753
857,531(24,660)
9,309,694
65,892,814

27,90527,905
100,746,975

24,20824,208100,024,612

FUJI KYUKO CO．，LTD．

(Thousands of yen)
As of March 31, 2023
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Lease liabilities
Accrued consumption taxes
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Lease liabilities
Deferred tax liabilities
Provision for share awards for directors (and otherofficers)
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Remeasurements of defined benefit plansTotal accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

As of December 31, 2023

2,439,374
12,250,326
724,449
662,461
636,169
448,874

2,298,786
10,005,345
526,763
675,372
1,272,025
165,198

18,000-3,847,515
21,027,169

4,750,328
19,693,819

5,000,000
41,488,870
1,040,221
42,8735,000,000
37,709,926
683,21744,01420,002

24,579752,9074,590,899
52,935,774
73,962,943

708,517
4,514,664
48,684,919
68,378,738

9,126,3433,691,371
13,814,073(1,543,134)
25,088,653

9,126,343
3,696,882
17,720,332(1,548,044)
28,995,514

953,880

1,747,865(162,670)
791,209904,168
26,784,031
100,746,975(88,390)
1,659,474
990,884
31,645,873
100,024,612

FUJI KYUKO CO．，LTD．

Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the nine months)(Thousands of yen)
For the nine months
ended December 31, 2022
Operating revenue
Operating expenses
Operating expenses and cost of sales of transportation
Selling, general and administrative expenses
Total operating expenses
Operating profit
Non-operating income
Interest and dividend income
Share of profit of entities accounted for using equity
methodMiscellaneous income
Total non-operating income
Non-operating expenses
Interest expenses
Miscellaneous expenses
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Subsidies
Subsidies for employment adjustment
Total extraordinary income
Extraordinary losses
Loss on valuation of investment securities
Loss on tax purpose reduction entry of non-currentassets
Loss on retirement of non-current assets
Allowance for absence from work
Other
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

For the nine months
ended December 31, 2023

31,875,566

39,027,403

27,733,719
927,918
28,661,638
3,213,928

30,752,865
1,071,449
31,824,314
7,203,088

89,256

105,851

15,01821,526

133,773
238,048

90,296217,675

340,292
55,688395,980
3,055,995

339,331
32,919372,250
7,048,513

8,703
78,747
23,974111,425

4,755
88,82393,579

3,074

-

9,447

29,533

334,537
17,59825,006389,664
2,777,756
530,092
437,510
967,6021,810,153
37,3691,772,784

159,324
188,857
6,953,234
1,647,028
510,449
2,157,477
4,795,756
93,7934,701,962

FUJI KYUKO CO．，LTD．

Quarterly Consolidated Statements of Comprehensive Income (For the nine months)(Thousands of yen)
For the nine months
ended December 31, 2022
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable to non-controllinginterests

For the nine months
ended December 31, 2023

1,810,153

4,795,756

97,67985,171

767,492
74,280(7,607)30,539175,244
1,985,398

872,312
5,668,069

1,946,847

5,570,227

38,55097,841