Financial Results Summary for the Three-Month Period Ended June 30, 2024 [Japanese GAAP](Consolidated)
August 6, 2024
Fukoku Co., Ltd.
Exchange listed on: Tokyo Stock Exchange
5185
URL https://www.fukoku-rubber.co.jp/(Title)President & CEO(Name) Ikuo Oshiro
General Manager of FinanceContact:(Title)(Name) Yukio Yamazaki(TEL) 048-615-4400
Department
Scheduled commencement date ofdividends payment:
Preparation of supplementary material on financial results : None
Holding of financial results briefing: NoneListed company:
Securities code:
Representative:(Amounts rounded down to the nearest millions of yen.)

1. Consolidated Financial Results for the Three-Month Period Ended June 30, 2024 (From April 1, 2024 to June 30,2024)(1) Consolidated Operating Results (cumulative)
Net sales

Operating profit

million yen%

million yen%

Three months ended June 30, 2024
22,226
3.3
980
Three months ended June 30, 2023
21,50610.9
667(Note) Comprehensive income
Three months ended June 30, 2024
Three months ended June 30, 2023

million yen

%

47.0
1,288
49.1
825
1,797 million yen
706 million yen

million yen

56.1
-23.6
(154.5%)(-70.6%)

738
383

%

92.5
-55.5

Profit per share – diluted

Profit per share
Three months ended June 30, 2024
Three months ended June 30, 2023

(Percentages represent year-on-year changes.)
Profit attributable toOrdinary profit
owners of parent

yen

yen

45.80
23.80

-

(2) Consolidated Financial Position
Total assets
Three months ended June 30, 2024
As of March 31, 2024
(Reference) Shareholders’ equity

Shareholders’ equity ratio

Net assets

million yen

million yen

77,68976,033Three months ended June 30, 2024
As of March 31, 2024%

43,23942,01040,717 million yen
39,537 million yen

52.4
52.0

2. Dividends
Annual dividends
End of Q1

End of Q2

End of Q3

End of Q4

Total

yen

yen

yen

yen

yen

As of March 31, 2024
Fiscal year ending March 31, 2025
Fiscal year ending March 31, 2025 (forecast)(Note) Revision of the dividends forecast released most recently

27.50

-

32.50

60.00

37.50
: None

-

37.50

75.00

3. Forecast of Consolidated Results for the Fiscal Year Ending March 31, 2025 (from April 1, 2024 to March 31,
2025)
Net sales
million yen

Operating profit%

million yen%(Percentages represent year-on-year changes.)
Profit attributable toOrdinary profit
Profit per shareowners of parent%

million yen%

yen

Full year
93,000
4.7
4,800
31.6
4,800
17.2
(Note) Revision of the consolidated results forecast released most recently: Nonemillion yen

3,750

22.9

232.69

* Notes(1) Significant changes in the scope of consolidation during the period: None(2) Adoption of special accounting procedures used in preparation of
the quarterly consolidated financial statements: Yes(Note) For details, please see “(3) Notes to quarterly consolidated financial statements (Adoption of special accounting procedures
used in preparation of the quarterly consolidated financial statements)” in “2. Quarterly Consolidated Financial Statements and
Key Notes” on Page 8 of the attachments.

(3) Change in accounting policies or estimates and retrospective restatements(i) Change in accounting policies in accordance with revision of accounting standards(ii) Change in accounting policies other than item i) above: None(iii) Change in accounting estimates: None(iv) Retrospective restatements: None(4) Number of shares issued (common shares)(i) Number of shares issued at the end of
the period (including treasury shares)(ii) Number of treasury shares at the endof the period(iii) Average number of shares issued
during the period (cumulative fromthe beginning of the fiscal year)**: NoneAs of June 30, 2024

17,609,130 shares As of March 31, 2024

17,609,130 shares

As of June 30, 2024

1,493,502 shares As of March 31, 2024

1,493,462 shares

As of June 30, 2024

16,115,638 shares As of June 30, 2023

16,109,125 shares

Review of the Japanese-language originals of the attached consolidated quarterly financial statements bycertified public accountants or audit firm: None
Explanation of appropriate use of operating results forecasts and other special notes

Any forward-looking statements, such as the financial results outlook, included in this material are based on information the
Company presently has and certain assumptions the Company considers reasonable, and they do not constitute a promise that theCompany will achieve them. In addition, the actual financial results may differ significantly due to various factors. For assumptions
for operating results forecasts and points to consider in utilizing them, please see “(3) Explanation of future forecast information suchas consolidated financial results forecasts” in “1. Overview of Operating Results, etc.” on Page 3 of the attachments.
on Page 3 of the attachments.

*

This document is an English translation of a statement initially written in Japanese. The Original Japanese
document should be considered as the primary version.

-- 2 --

 Table of Contents of Attachments

1. Overview of Operating Results, etc. ......................................................................................................................... 2(1) Overview of operating results for the period under review ..................................................................................... 2(2) Overview of financial position for the period under review .................................................................................... 3(3) Explanation of future forecast information such as consolidated financial results forecasts ................................... 3
2. Quarterly Consolidated Financial Statements and Key Notes ................................................................................... 4(1) Quarterly consolidated balance sheet ...................................................................................................................... 4(2) Quarterly consolidated statement of income and quarterly consolidated statement of comprehensive income ....... 6(3) Notes to quarterly consolidated financial statements ............................................................................................... 8(Adoption of special accounting procedures used in preparation of the quarterly consolidated financial
statements) ............................................................................................................................................................... 8(Notes on segment information)............................................................................................................................... 8(Notes when there is a significant change in the amount of shareholders’ equity) ................................................. 10(Notes on going concern assumption) .................................................................................................................... 10(Notes on statement of cash flows) ........................................................................................................................ 10(Notes on important subsequent events) ................................................................................................................ 10-1-

1. Overview of Operating Results, etc.
(1) Overview of operating results for the period under review
The Japanese economy experienced recovery during the three months ended June 30, 2024, with higher wage growth rates andan increase in inbound tourists. However, the prolonged crisis in Ukraine, the sluggish growth of the Chinese economy, continued
yen depreciation, and persistent inflationary concerns continue to leave the outlook uncertain.
Although the automotive industry saw a recovery in production volumes due to improvements in semiconductor supply
shortages from the previous fiscal year, growth worldwide remained sluggish. Demand, depending on regional differences, fell
into bright and dark areas. Despite aggressive investments in research and development as well as promotional activities forelectric vehicles, there has been a shift in demand for hybrid vehicles in certain regions.
For the three months ended June 30, 2024, consolidated net sales increased 3.3% year on year to 22,226 million yen. Operating
profit was up 47.0% year on year to 980 million yen, with ordinary profit up 56.1% to 1,288 million yen. This was realized byovercoming the impact of higher raw material and fuel costs through streamlining and reflecting these costs in selling prices.
Profit attributable to owners of the parent increased 92.5% to a total of 738 million yen.
The Group’s business performance by segment is as follows.
We have changed the classification of our reporting segments from the first quarter under review. For the year-on-yearcomparisons below, we have undertaken a comparative analysis using figures from the same quarter of the previous year that havebeen reclassified to align with the new segment categories.
For more information, see “(3) Notes to Quarterly Consolidated Financial Statements (Notes on segment Information)” in “2Quarterly Consolidated Financial Statements and Key Notes.”
Functional Parts BusinessNet sales increased 4.5% year on year to 9,505 million yen due to a recovery in automobile manufacturer production and theeffect of foreign exchange rates. Segment income grew 29.2% year on year to total 1,137 million yen due to streamlining efforts
and reflecting the rising cost of materials in selling prices.
Anti-Vibration Parts BusinessNet sales increased 8.4% year on year to 10,076 million yen due to growing demand in India and the United States and theeffect of currency translation. Segment income was up 41.5% year on year to 671 million yen due to streamlining efforts andreflecting the rising cost of materials for metal parts in selling prices.
Life Science Business
Due to strong orders, net sales grew 24.5% year on year to 252 million yen. Segment income increased 37.0% year on year to
64 million yen.
Metal BusinessNet sales fell 22.0% year on year to 1,367 million yen due to our ongoing efforts on downsizing unprofitable components
businesses to improve profitability. Segment income, which gained 25 million yen for the same period last year, showed a loss of
16 million yen despite streamlining efforts and reflecting the rising cost of materials for metal parts in selling prices.
Hose BusinessNet sales declined by 11.6% year on year to 1,211 million yen due to lower demand in Southeast Asia and other factors.
Segment income grew 62.3% year on year to 59 million yen due to streamlining efforts and reflecting the rising cost of materials
in selling prices.

-2-

(2) Overview of financial position for the period under review
Total assets as of June 30, 2024 were 77,689 million yen, an increase of 1,655 million yen from the end of the previous fiscal
year.
Current assets grew 714 million yen from the end of the previous fiscal year to 46,432 million yen, due primarily to an increasein notes and accounts receivable-trade.
Non-current assets rose 941 million yen over the end of last fiscal year to 31,256 million yen, due primarily to an increase inmachinery, equipment and transportation equipment.
Liabilities totaled 34,449 million yen, an increase of 426 million yen from the end of the previous fiscal year. This increase wasprimarily attributable to increased borrowings.
Net assets totaled 43,239 million yen, an increase of 1,229 million yen from the end of the previous fiscal year. This wasprimarily due to an increase in retained earnings and foreign currency translation adjustments.
As a result, the shareholders’ equity ratio came to 52.4%, up 0.4 percentage points from the end of the previous fiscal year.
(3) Explanation of future forecast information such as consolidated financial results forecasts
The economic outlook for the future remains uncertain, with an inflationary trend due to the prolonged situation in Ukraine,
exchange rate volatility in the context of global monetary tightening, and soaring resource costs.
Under these circumstances, 2024, the first year of the New Medium-Term Management Plan 2026, is positioned as a key year
for achieving the 2026 targets of net sales of 120 billion yen, operating profit margin of 8%, and ROE of 12%. To achieve thisgoal, the entire company will work together on strategies to bolster existing businesses, expand growth businesses and new
businesses, and to reform management foundations focusing on ESG perspectives, with the overall goal of maximizing
profitability.
There have been no changes made to the full-year consolidated financial results forecasts for the fiscal year ending March 31,
2025 announced on May 15, 2024.
The above forecasts represent the Company’s best judgment based on information currently available. Actual results may varyfrom the above forecasts due to various factors.

-3-

2. Quarterly Consolidated Financial Statements and Key Notes(1) Quarterly consolidated balance sheet(Million yen)Previous fiscal year
As of March 31, 2024

First quarter under review
As of June 30, 2024

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade

12,011
20,591

11,748
21,100

Merchandise and finished goods
Work in process

6,223
1,345

6,216
1,397

Raw materials and supplies
Other

3,858
1,709

4,033
1,959

-22

-23

45,71846,432

Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net

8,519

8,585

Machinery, equipment and vehicles, net
Land

9,978
6,138

10,406
6,183

Other, net

2,059

2,306

Total property, plant and equipment

26,69527,481Intangible assets

1,675

1,689

Investments and other assets
Investment securities

1,030

1,061

913

1,024

Other
Total investments and other assets
Total non-current assets
Total assets

-4-

1,944

2,086

30,31531,25676,033

77,689(Million yen)Previous fiscal year
As of March 31, 2024

First quarter under review
As of June 30, 2024

Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating

5,373
6,062

5,324
5,565

Short-term borrowings
Income taxes payable

8,765
526

8,774
463

Provision for bonuses
Other

799
5,359

539
5,673

Total current liabilities

26,885

26,341

Non-current liabilities
Long-term borrowings

2,759

3,366

1,573

1,644

159

160

2,644

2,936

Retirement benefit liabilities
Provision for retirement benefits for directors(and other officers)
Other
Total non-current liabilities

7,137

8,108

34,02334,449

Share capital
Capital surplus

1,395
1,575

1,395
1,575

Retained earnings
Treasury shares

33,206-1,39733,421-1,397

Total shareholders' equity

34,78034,995

205

200

7
4,544

-54
5,576

4,757

5,722

Total liabilities
Net assets
Shareholders’ equity

Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Total accumulated other comprehensive income
Non-controlling interests

2,472

2,521

Total net assets

42,01043,23976,033

77,689Total liabilities and net assets-5-(2) Quarterly consolidated statement of income and quarterly consolidated statement of comprehensive income
Quarterly consolidated statement of income
Three months ended June 30, 2024

Net sales
Cost of sales(Million yen)Three-month period in theThree-month period under review
previous fiscal year
(From April 1, 2024
(From April 1, 2023
to June 30, 2024)
to June 30, 2023)
21,50622,22618,08018,147Gross profit

3,426

4,079

Selling, general and administrative expenses

2,759

3,098

667

980

17
3

20
4

5

8

206

296

Operating profit
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity
methodForeign exchange gains
Other

60

47

Total non-operating income

293

377

Interest expenses
Other

56
78

50
18

Total non-operating expenses

Non-operating expenses

135

69

Ordinary profit

825

1,288

Profit before income taxes

825

1,288

Income taxes - current
Income taxes - deferred

274
159

287
238

Total income taxes

433

526

Profit

392

762

8

24

383

738

Profit attributable to non-controlling interests
Profit attributable to owners of parent-6-

Quarterly consolidated statement of comprehensive income
Three months ended June 30, 2024

ProfitOther comprehensive income(Million yen)Three-month period in theThree-month period under review
previous fiscal year
(From April 1, 2024
(From April 1, 2023
to June 30, 2024)
to June 30, 2023)
392
762

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

33
-19

-4
-62

Foreign currency translation adjustment
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income

288

1,074

11

27

314

1,035

Comprehensive income

706

1,797

Profit attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to non-controllinginterests

689

1,703

16

94

-7-

(3) Notes to quarterly consolidated financial statements(Adoption of special accounting procedures used in preparation of the quarterly consolidated financial statements)(Calculation of tax expenses)
With respect to tax expenses incurred by some consolidated subsidiaries, the Company reasonably estimated the effective tax
rate after applying tax effect accounting to profit before income taxes in the fiscal year, including the first quarter under review,and calculated them by multiplying this estimated effective tax rate by profit before income taxes.
(Notes on segment information)
Segment information
I. Three months ended June 30, 2023 (from April 1, 2023 to June 30, 2023)
1. Information on net sales, income or loss by reporting segment
Reporting segment
AntiFunctional
Vibration
Parts
Parts

Total

Life
Science

Metal

Hose

(Million yen)
Quarterly
consolidated
Adjustments statement of(Note) 1
incomeamounts(Note) 2

Net sales
Sales to external customers

8,917

9,289

202

1,752

1,344

21,506-

21,506

182

2

-

0

25

210

-210

-

Total

9,100

9,291

202

1,753

1,369

21,717-210

21,506

Segment income

880

474

47

25

36

1,464

-797

667

Intersegment sales ortransfer(Notes) 1. The adjustment of -797 million yen for segment income includes an inter-segment elimination of -1 million yen andcorporate expenses that are not allocated to any reporting segments totaling -795 million yen. Corporate expenses areprimarily general and administrative expenses that are not attributable to any reportable segments.
2. Segment income is adjusted to be consistent with operating profit recorded in the quarterly consolidated statement ofincome.
2. Information on impairment loss on non-current assets and goodwill and other by reporting segment
Not applicable.

-8-II. Three months ended June 30, 2024 (from April 1, 2024 to June 30, 2024)
1. Information on net sales, income or loss by reporting segment
Reporting segment
AntiFunctional
Vibration
Parts
Parts

Total

Life
Science

Metal

Hose

(Million yen)
Quarterly
consolidated
Adjustments statement of(Note) 1
incomeamounts(Note) 2

Net sales
Sales to external customers
Intersegment sales ortransfer
Total
Segment income (loss)

9,341

10,072

252

1,367

1,193

22,226-22,226

164

4

-

0

18

186

-186

-

9,505

10,076

252

1,367

1,211

22,412-186

22,226

1,137

671

64

-16

59

1,916

-936

980

(Notes) 1. The adjustment of -936 million yen for segment income (loss) includes an inter-segment elimination of 0 million yen
and corporate expenses that are not allocated to any reporting segments totaling -936 million yen. Corporate expenses
are primarily general and administrative expenses that are not attributable to any reportable segments.
2. Segment income (loss) is adjusted to be consistent with operating profit recorded in the quarterly consolidated statementof income.
2. Notes on Changes in Reporting Segments
Starting with the first quarter under review, the reporting segments have been reclassified from the previous segments ofFunctional Parts Business, Anti-Vibration Parts Business, Industrial Equipment Business, Metal Business, and Hose Business tothe new segments of Functional Parts Business, Anti-Vibration Parts Business, Life Science Business, Metal Business, and HoseBusiness.
We have reorganized the former Industrial Equipment Business Division to focus on expanding life science products andindustrial products to embody the aims of New Medium-Term Management Plan 2026. This change in part of our Group's
reporting segment will better reflect the actual status of each business activity following the reorganization.
The Life Science Business has been established to handle bio-related products that were previously part of the Life Science
Products and Industrial Equipment Businesses. The goal is to expand our business in the regenerative medicine and cosmetics
markets, which are expected to grow in the future, and to promote proactive business activities for life science products, which
are drawing growing attention worldwide.
In addition, aerospace products in the new business area and products for the growing industrial business area have been
integrated. OA products, previously classified under Industrial Equipment Business, have been integrated into the Functional
Parts Business to improve production efficiency.
Moreover, to improve the productivity of semiconductor-related products that are expected to further expand in the market,
the company integrated urethane products, which previously belonged to the Industrial Equipment Business, into the AntiVibration Parts Business.
Segment information for the three-month period in the previous fiscal year is stated based on the reporting segmentclassification after the change.
3. Information on impairment loss on non-current assets and goodwill and other by reporting segment
Not applicable-9-

(Notes when there is a significant change in the amount of shareholders’ equity)
Not applicable(Notes on going concern assumption)
Not applicable(Notes on statement of cash flows)
Quarterly consolidated statements of cash flows have not been prepared for three months ended June 30, 2024.
Depreciation and amortization expense (including amortization of intangible assets excluding goodwill) for three month
ended June 30 was as follows:
Three months ended June 30, 2023 Three months ended June 30, 2024
(from April 1, 2023 to(from April 1, 2024 toJune 30, 2023)
June 30, 2024)
Depreciation and amortization expense

1,063 million yen

1,149 million yen(Notes on important subsequent events)(Disposal of Treasury Shares as Restricted Stock Compensation)
The Company resolved at the Board of Directors meeting held on June 26, 2024, to dispose of treasury shares as restricted
stock compensation to the Company's directors (excluding directors who are nonresidents of the country, directors who are
Audit and Supervisory Committee members, and outside directors). Accordingly, the Company disposed of treasury shares asfollows:
1. Overview of the disposal(1) Pay-in date: July 25, 2024
(2) Class and number of shares to be disposed of: Common stock of the Company 3,760 shares(3) Disposal price: 2,331 yen per share(4) Total value of disposal: 8,764,560 yen(5) Recipients, number of recipients, and number of shares to be disposed
Three (3) Directors (excluding directors who are nonresidents of Japan, directors who are Audit and Supervisory
Committee members, and outside directors) 3,760 shares
2. Purpose and reasons for disposal
In its meeting held June 4, 2020, the Company Board of Directors resolved to adopt a system of transfer-restricted
share-based compensation (“System” hereinafter) as a new compensation system for Eligible Directors. This System isintended to provide incentives for Company Directors (“Eligible Directors”; excluding Directors who are Audit andSupervisory Committee Members and Outside Directors) to work toward sustained growth in the Company's corporate andshareholder value over the medium to long term and to enhance the Company's sharing of value with shareholders. In
addition, the 67th Regular General Meeting of Shareholders held June 26, 2020 and the follow-up meeting to the 67th
Regular General Meeting of Shareholders held July 31, 2020 approved ① the payment to Eligible Directors of claims tomonetary compensation of up to 50 million yen/year, apart from existing limits on monetary compensation, as assets forinvestments in kind related to the allotment of transfer-restricted shares based on this System; ② the designation as thetransfer-restricted period of the period from the date of issue of the transfer-restricted shares through the date of retirement
or resignation from the status of a Company Director or other status as specified by the Company Board of Directors (or adate specified separately by the Company Board of Directors within six months after the end of the fiscal year in whichfalls the date of issue of the allotted shares for those retiring or resigning, and within three months after the end of such
fiscal year); and ③ the establishment of the conditions (i) the recipient retaining the status of a Company Director or otherstatus specified by the Company Board of Directors continually during the period of provision of services as specified by
the Company Board of Directors; and (ii) if the recipient has retired or resigned from the status of a Company Director orother status as specified by the Company Board of Directors before the end of this period of provision of services, it musthave been for appropriate reasons as recognized by the Company Board of Directors.
-10-