[Translation]
September 18, 2024
Kakuyasu Group Co.,Ltd.
Representative Director and President

Yoshiyuki Maegaichi（Ticker Code：7686 Tokyo Stock Exchange Standard Market）
Inquiry to

Executive Officer

Hiroyuki Yamamoto

Revised Interim and Full-Year Earnings Outlook for FY2024
This is to announce that the Company has decided to revise the consolidated businessoutlook for the first half and the full fiscal year ending March 2025 (from April 1, 2024 toMarch 31, 2025) as follows.
1. Revisions to the consolidated financial results outlook for the first half of the fiscal year
(from April 1, 2024 to September 30, 2024)
Net Profit
Operating Recurring
Earnings perSales
attributable toprofit
profitshareowners of parent
Previously announced
JPY million
JPY million
JPY million
JPY million
JPY
forecasts（A）
67,430
1,330
1,310
810
84.23
(Published on May 15, 2024）
Revised forecasts (B)66,400

850

820

250

Change (B-A)(1,030)

(480)

(490)

(560)

(1.5)

(36.1)(37.4)(69.1)

63,679

1,131

1,139

437

Change (%)(Reference) Actual
consolidated results for theprevious fiscal year
(First half of the fiscal yearended March 31, 2024)

26.00

46.60

2. Revisions to consolidated financial results outlook for the full fiscal year (from April 1,2024 to March 31, 2025)
Net Profit
OperatingRecurring
Earnings perSales
attributable toprofit
profitshareowners of parent
Previously announced
JPY million JPY million
JPY million
JPY million
JPY
forecasts（A）
137,400
3,600
3,600
2,200
228.22(Published on May 15, 2024）
Revised forecasts (B)136,800

3,000

2,950

1,600

Change (B-A)

(600)

(600)

(650)

(600)

Change (%)(Reference) Actual
consolidated results for theprevious fiscal year
(Full fiscal year ended March
31, 2024)(0.4)(16.7)(18.1)(27.3)

129,406

2,867

2,878

1,595

166.35169.44

3. Reason for the revision
When it comes to the consolidated results for the first half of the fiscal year ending
March 2025, while business sales, our core source of cash generation, has maintained
momentum as we've expected, store sales specifically in the second quarter was quite lower
than expected, and household delivery service was unable to fulfill anticipated delivery
slots due to a shortage of delivery personnel entailed opportunity losses in spite of ample
demand for liquors. As a result, the interim financial outlook of FY2024 is likely to fallshort of expectations. In terms of profits, although the staff shortage is being alleviated by
active recruitment activities, it will still be below the interim forecasts, because of thesignificant increase in personnel expenses including the incremental increase of base pay
from October 2023.
On the basis of the above interim outlook, the Company plans to further strengthenbusiness sales by hiring additional delivery staffs and by fulfilling household delivery slots
through Daiwa Express Ltd. which the Company acquired at the end of July 2024. Andthen, the Company strives to improve sales performance especially for store sales which
has been weak in the first half of the FY2024.
In light of profits on full year basis, the Company doesn't plan to any further revisions
against the initial outlook specifically for the rest of the FY2024 so far. Meanwhile,
however, the Company decided to revise the initial annual outlook downward in line withthe downward revision for the interim period of FY2024.

Disclaimer

・The outlook figures described above are estimates based on currently available information.
Actual results may differ from the outlook due to various unforeseeable factors.

・This is an English translation of the disclosure. This translation is prepared and provided for the reader’sconvenience.