April 12, 2024

Summary of Consolidated Financial Results for the Fiscal Year Ended February 29, 2024
Company name:Securities code:
Representative:
Contact:[Japanese GAAP]
Listing: Tokyo Stock Exchange
URL: https://www.freund.co.jp

Freund Corporation

6312
Iwao Fusejima, President & CEO
Hiroaki Sekiwa, Executive Officer, General Manager, Corporate Administration Division
Tel: +81-3-6890-0750
Scheduled date of Annual General Meeting of Shareholders:
May 30, 2024
Scheduled date of filing of Annual Securities Report:
May 31, 2024
Scheduled date of payment of dividend:
May 31, 2024
Yes
Preparation of supplementary materials for financial results:
Yes (for institutional investors and securities analysts)
Holding of financial results meeting:(All amounts are rounded down to the nearest million yen)

1. Consolidated Financial Results for the Fiscal Year Ended February 29, 2024
(March 1, 2023 – February 29, 2024)(Percentages represent year-on-year changes)(1) Consolidated results of operations
Net sales

Operating profit

Million yen

Fiscal year ended Feb. 29, 2024
Fiscal year ended Feb. 28, 2023
Note: Comprehensive income%Million yen

Profit attributable toowners of parent

Ordinary profit%

Million yen%

Million yen%

22,90316.5
1,270 181.3
1,285 129.9
764
19,65811.5
451 (54.0)
559 (45.9)(538)
Fiscal year ended Feb. 29, 2024:
1,211 million yen(up 933.4%)
Fiscal year ended Feb. 28, 2023:
117 million yen(down 85.9%)
Net income per
Diluted net
Ordinary profit Operating profit
Return on equity
share
income per shareon total assets
on net sales
Yen

Fiscal year ended Feb. 29, 2024
Fiscal year ended Feb. 28, 2023
Reference: Equity in earnings of affiliatesYen%

45.46
5.3
(32.15)(3.8)
Fiscal year ended Feb. 29, 2024: (24) million yen
Fiscal year ended Feb. 28, 2023: (15) million yen

%%

5.3
2.5

5.5
2.3

(2) Consolidated financial position
Total assets

Net assets

Million yen

As of Feb. 29, 2024
As of Feb. 28, 2023
Reference: Equity capital

Equity ratio

Million yen

Net assets per share%

25,78915,02322,758
14,117
As of Feb. 29, 2024: 15,023 million yen

Yen

58.3
889.0362.0
843.09As of Feb. 28, 2023: 14,117 million yen(3) Consolidated cash flows
Cash flows fromoperating activities

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash equivalents
at end of the period

Million yen

Million yen

Million yen

Million yen

2,368
(196)

(739)
(666)

(874)
451

4,736
3,917

Fiscal year ended Feb. 29, 2024
Fiscal year ended Feb. 28, 2023

2. Dividends
Dividend per share
1Q-end2Q-endYen

Yen

3Q-end Year-end
Yen

Yen

Total

Total
dividends

Dividend
Dividend on
payout ratio
equity(consolidated) (consolidated)

Yen Million yen%

Fiscal year ended Feb. 28, 2023
0.00
20.00
20.00
334
Fiscal year ended Feb. 29, 2024
0.00
20.00
20.00
337
44.0
Fiscal year ending Feb. 28, 2025
0.00
25.00
25.00
54.6
(forecast)
Note: Breakdown of the year-end dividend for the fiscal year ending Feb. 28, 2025: Ordinary dividend:
20.00 yen
Commemorative dividend: 5.00 yen

%

2.4
2.3

3. Consolidated Forecast for the Fiscal Year Ending February 28, 2025 (March 1, 2024 – February 28, 2025)
Net sales
Full year(Percentages represent year-on-year changes)
Net income perProfit attributable toOrdinary profit
owners of parent
share

Operating profit

Million yen%

Million yen%

Million yen%

Million yen%

Yen

23,5002.6

1,100(13.4)

1,100(14.4)770

0.745.76

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in changes inscope of consolidation): None
Newly added: -Excluded: -(2) Changes in accounting policies and accounting-based estimates, and restatements
1) Changes in accounting policies due to revisions in accounting standards, others:None

2) Changes in accounting policies other than 1) above:Yes3) Changes in accounting-based estimates:

None4) Restatements:

None(3) Number of outstanding shares (common stock)1) Number of shares outstanding at the end of the period (including treasury shares)
As of Feb. 29, 2024:

18,400,000 shares

As of Feb. 28, 2023:

18,400,000 shares

As of Feb. 28, 2023:

1,655,480 sharesFiscal year ended Feb. 28, 2023:

16,744,520 shares

2) Number of treasury shares at the end of the period
As of Feb. 29, 2024:

1,501,308 shares3) Average number of shares outstanding during the period
Fiscal year ended Feb. 29, 2024:

16,828,646 shares

Reference: Summary of Non-consolidated Financial Results
Non-consolidated Financial Results for the Fiscal Year Ended February 29, 2024
(March 1, 2023 – February 29, 2024)(1) Non-consolidated results of operations
Net sales
Fiscal year ended Feb. 29, 2024
Fiscal year ended Feb. 28, 2023

(Percentages represent year-on-year changes)
Ordinary profit
ProfitOperating profit

Million yen%

Million yen%

Million yen%

Million yen%

13,65011,795

15.7(6.8)

1,004
817

22.9(31.8)

1,114
992

12.3
(24.6)

614(315)-Net income per share Diluted net income per share
Fiscal year ended Feb. 29, 2024
Fiscal year ended Feb. 28, 2023

Yen

Yen

36.53
(18.85)-(2) Non-consolidated financial position
Total assets
Million yen

As of Feb. 29, 2024
As of Feb. 28, 2023
Reference: Shareholders’ equity

Net assets

Equity ratio

Million yen

19,934
12,961
17,162
12,619As of Feb. 29, 2024: 12,961 million yen

Net assets per share%Yen

65.0
766.9973.5753.66
As of Feb. 28, 2023: 12,619 million yen

This financial report is not subject to audit by certified public accountants or auditing firms.
Cautionary statement with respect to forecasts of future performance and other special items
Statements about future performance, including forecasts in this document are based on certain assumptions that the Company
considers to be reasonable and relies on and the information currently available. Actual performance may significantly differ due
to various reasons.