Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Non-Consolidated Financial Results
for the Nine Months Ended December 31, 2023
(Based on Japanese GAAP)
January 31, 2024
Company name:
Fundely Co., Ltd.
Stock exchange listing: Tokyo
Stock code:
Representative:

3137
URL https://www.fundely.co.jp/
President, Founder
Kosuke Abe

Inquiries:

Director and General Manager ofAdministration Department

Tomonori Kayano

Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:

February 13, 2024–

Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results meeting:

Yes
No

TEL

03-6741-5880(Amounts less than one million yen are rounded down)
1. Non-consolidated financial results for the nine months ended December 31, 2023 (from April 1, 2023 to December 31, 2023)(1) Non-consolidated operating results (cumulative)
Percentages indicate year-on-year changesNet sales
Nine months ended December 31, 2023
Nine months ended December 31, 2022

Millions of yen
2,024
2,158

Operating profit% Millions of yen(6.2)
55(10.1)
36

Earnings per share

Profit% Millions of yen–21–0%––Diluted earnings per share
Yen
3.39
0.08

Nine months ended December 31, 2023
Nine months ended December 31, 2022

Ordinary profit% Millions of yen
52.3
22
48.7
1

Yen
3.39
0.08(2) Non-consolidated financial position
Total assets

Net assets

Millions of yen
4,630
4,935

As of December 31, 2023
As of March 31, 2023

Equity ratio

Millions of yen
371
349%
7.8
6.8

2. Cash dividends
Annual dividends per share

Year ended March 31, 2023
Year ending March 31, 2024

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen
––

Yen
0.00
0.00

Yen
––

Yen
0.00

Yen
0.00

0.00

0.00

Year ending March 31, 2024 (Forecast)Total

3. Forecast of non-consolidated financial results for the year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)
Percentages indicate year-on-year changes
Net salesFull year

Millions of yen
3,037

Operating profit% Millions of yen
8.152

Ordinary profit% Millions of yen–511Profit% Millions of yen–
50Earnings per share%–Yen
7.97

4. Notes(1) Application of special accounting methods for preparing quarterly non-consolidated financial statements: Yes(2) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
NoChanges in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

NoNo

Restatement of prior period financial statements:

No(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2023

6,457,500 shares As of March 31, 2023

6,457,500 shares

132,600 shares As of March 31, 2023

132,600 shares

Number of treasury shares at the end of the period
As of December 31, 2023

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Nine months ended December 31, 2023

6,324,900 shares Nine months ended December 31, 2022

2

6,354,973 shares

Quarterly non-consolidated financial statements
Non-consolidated balance sheets(Thousands of yen)
As of March 31, 2023

As of December 31, 2023

AssetsCurrent assets
Cash and deposits
Accounts receivable - trade975,782
131,738

751,948
159,640

Merchandise and finished goods
Work in process

254,206
1,918

338,390308

Raw materials and supplies
Other

12,931
57,8898,949
50,592

Allowance for doubtful accounts
Total current assets

(71)

(111)

1,434,395

1,309,718

2,538,445

2,538,030

Non-current assets
Property, plant and equipment
Buildings
Accumulated depreciation(419,028)(520,511)

Buildings, net

2,119,416

2,017,518

Structures

528,839

528,839

Accumulated depreciation(125,093)(156,366)

Structures, net

403,746

372,472

Machinery, equipment and vehicles

966,430

965,330

Accumulated depreciation(560,803)(603,387)

Machinery, equipment and vehicles, net

405,626

361,942

Tools, furniture and fixtures

99,13685,992

Accumulated depreciation(88,425)(79,078)

Tools, furniture and fixtures, net
Land
Total property, plant and equipment
Intangible assets
Investments and other assets
Total non-current assets
Total assets

3

10,7106,913

516,725

516,725

3,456,225

3,275,573

3,353
41,8652,891
41,8463,501,444

3,320,312

4,935,839

4,630,030

(Thousands of yen)
As of March 31, 2023

As of December 31, 2023

Liabilities
Current liabilities
Accounts payable - trade97,46874,456

Current portion of long-term borrowings
Accounts payable - other270,360
182,982

270,360
57,577

Income taxes payable
Provision for bonuses

1,481
14,731

3,086
8,184

Other

27,521

56,406

Total current liabilities

594,546

470,071

Long-term borrowings
Asset retirement obligations

3,986,150
5,487

3,783,380
5,492

Total non-current liabilities

3,991,637

3,788,872

4,586,183

4,258,944

Shareholders' equity
Share capital

279,864

279,864

Capital surplus
Retained earnings

229,864(75,877)

229,864(54,412)

Treasury shares(96,299)(96,299)

Total shareholders' equity

337,550

359,016

12,105

12,069Non-current liabilities

Total liabilities
Net assets

Share acquisition rights
Total net assets
Total liabilities and net assets

4349,656

371,085

4,935,839

4,630,030

Non-consolidated statements of income (cumulative)(Thousands of yen)
Nine months ended

Nine months ended

December 31, 2022

December 31, 2023

Net sales
Cost of sales

2,158,065
1,146,034

2,024,173
1,024,606

Gross profit

1,012,030

999,567

Selling, general and administrative expenses

975,899

944,538

Operating profit

36,13155,028Commission income
Bounty income

430400567–

Interest on tax refundMiscellaneous income

–
948

35
606

1,778

1,208

35,97333,554Non-operating income

Total non-operating income
Non-operating expenses
Interest expenses
OtherTotal non-operating expenses
Ordinary profit
Extraordinary income
Gain on reversal of share acquisition rights

711–

36,68433,554

1,225

22,682410

36

Total extraordinary income

410

36

Extraordinary losses
Loss on sale of non-current assets–

118

Loss on retirement of non-current assets–

23

Total extraordinary losses–

141

Profit before income taxes

1,636

22,576

Income taxes

1,110

1,111526

21,465

Profit5