January 12, 2024

Summary of Consolidated Financial Results
for the Third Quarter of the Fiscal Year Ending February 29, 2024
(Nine Months Ended November 30, 2023)
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
Masao Wakai, Director, General Manager, Corporate Administration Division
Tel: +81-3-6890-0750
Scheduled date of filing of Quarterly Report:
January 12, 2024
Scheduled date of payment of dividend:
Preparation of supplementary materials for quarterly financial results:
None
None
Holding of quarterly financial results meeting:(All amounts are rounded down to the nearest million yen)

1. Consolidated Financial Results for the Third Quarter (March 1, 2023 – November 30, 2023) of the
Fiscal Year Ending February 29, 2024
(Percentages represent year-on-year changes)(1) Consolidated results of operations
Net sales

Operating profit

Million yen

Nine months ended Nov. 30, 2023
Nine months ended Nov. 30, 2022
Note: Comprehensive income%Million yen

Profit attributable toowners of parent

Ordinary profit

Million yen%14,170
13.3
118 161.5
125(5.1)
54
12,5044.3
45 (90.1)
132 (73.1)
1
Nine months ended Nov. 30, 2023: 387 million yen(down 49.2%)
Nine months ended Nov. 30, 2022: 761 million yen(up 47.6%)
Diluted net income
Net income per shareper share%(99.6)

Yen

Nine months ended Nov. 30, 2023
Nine months ended Nov. 30, 2022
Reference: Equity in earnings of affiliates

Million yen%

Yen

3.24
0.06
Nine months ended Nov. 30, 2023: (13) million yen
Nine months ended Nov. 30, 2022: (12) million yen(2) Consolidated financial position
Total assets

Net assets

Million yen

As of Nov. 30, 2023
As of Feb. 28, 2023
Reference: Equity capital

Equity ratio

Million yen

Net assets per share%

23,85814,18722,758
14,117
As of Nov. 30, 2023: 14,187 million yen

Yen

59.5
839.4662.0
843.09As of Feb. 28, 2023: 14,117 million yen

2. Dividends
1Q-endDividend per share
3Q-end2Q-endYen

Year-end

Total

Yen

Yen

Yen

Yen

Fiscal year ended Feb. 28, 2023
0.00
Fiscal year ending Feb. 29, 2024
0.00
Fiscal year ending Feb. 29, 2024 (forecast)
Note: Revision to the most recently announced dividend forecast: None-20.00

20.00

20.00

20.00

3. Consolidated Forecast for the Fiscal Year Ending February 29, 2024 (March 1, 2023 – February 29, 2024)
Net sales
Million yen(Percentages represent year-on-year changes)
Net income per
Profit attributable toOrdinary profit
owners of parent
share

Operating profit

Million yen%

Million yen%

Yen

Full year
20,000
1.7
700
55.0
650
Note: Revision to the most recently announced consolidated forecast: None%

Million yen%

16.3450-26.87

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in changes inscope of consolidation): None
Newly added: -Excluded: -(2) Application of special accounting methods for presenting quarterly consolidated financial statements: Yes(3) Changes in accounting policies and accounting-based estimates, and restatements
1) Changes in accounting policies due to revisions in accounting standards, others:None2) Changes in accounting policies other than 1) above:Yes

3) Changes in accounting-based estimates:

None4) Restatements:

None(4) Number of outstanding shares (common stock)1) Number of shares outstanding at the end of the period (including treasury shares)
As of Nov. 30, 2023:

18,400,000 shares

As of Feb. 28, 2023:

18,400,000 shares

As of Feb. 28, 2023:

1,655,480 shares

Nine months ended Nov. 30, 2022:

16,744,520 shares

2) Number of treasury shares at the end of the period
As of Nov. 30, 2023:

1,498,808 shares

3) Average number of shares outstanding during the period
Nine months ended Nov. 30, 2023:

16,805,071 sharesThis financial report is not subject to quarterly review 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.