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 Consolidated Financial Results
for the Year Ended March 31, 2023
(Based on Japanese GAAP )May 15, 2023
Company name:
COPRO-HOLDINGS. Co., Ltd.
Stock exchange listing: Tokyo, Nagoya
Stock code:
7059
URL https://www.copro-h.co.jp/
Representative:
Chief Executive Officer
Inquiries:
Managing Director
Scheduled date of ordinary general meeting of shareholders:
Scheduled date to file Securities Report:
Scheduled date to commence dividend payments:
Preparation of supplementary material on financial results:
Holding of financial results meeting:

Kosuke Kiyokawa
Masahiko Saito
June 21, 2023
June 22, 2023
June 22, 2023
Yes
Yes

TEL

+81-52-589-3066(Amounts less than one million yen are rounded down)
1.Consolidated financial results for the year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)(1) Consolidated operating results
Net salesYear ended March 31, 2023
Year ended March 31, 2022

Operating profit

Millions of yen
18,791
15,589%20.5
5.1

Earnings per share

Diluted earnings pershare

Year ended March 31, 2023
Year ended March 31, 2022

Millions of yen%
1,321 (18.5)
1,621 12.8

Percentages indicate year-on-year changes
Profit attributable toOrdinary profit
owners of parent
Millions of yen%
Millions of yen%
1,324 (18.2)
864 (10.2)
1,619
12.5
962 (4.6)

Profit attributable toOrdinary profit/total Operating profit/net
owners ofassetss
sales
parent/equity

Yen

Yen%%%

93.09
102.1292.09
100.84

12.7
15.0

14.1
18.7

7.0
10.4

(2)Consolidated financial position
Total assets
As of March 31, 2023
As of March 31, 2022

Net assets

Equity ratio

Net assets per share

Millions of yen

Millions of yen%

Yen

9,995
8,841

7,112
6,575

70.4
74.0

757.66704.25(3)Consolidated cash flows
Cash flows fromoperating activities
Year ended March 31, 2023
Year ended March 31, 2022

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash equivalents
at end of period

Millions of yen

Millions of yen

Millions of yenMillions of yen

1,011
824

(291)
(1,264)

(372)
(825)

4,369
4,021

2.Cash dividends
Annual dividends per share
1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end

Year ended March 31, 2022
Year ended March 31, 2023
Year ending March 31, 2024
(Forecast)

Total cash
Dividend payout
dividends (Total) ratio (Consolidated)

Total

Yen

Yen

Yen

Yen

––

10.00
10.00

–
–

30.00
40.00

40.00
50.00

–

30.00

–

50.00

80.00

1Yen Millions of yen

373
464

Ratio of dividends
to net assets(Consolidated)

%%

39.2
53.7

5.9
6.8

63.7

3. Forecast of 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 sales

Operating profit

Profit attributable toowners of parent

Ordinary profit

Earnings per share

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

11,203

29.2

495

5.3

565

19.7

316

12.7

34.00

24,298

29.3

1,800

36.2

1,870

41.2

1,167

35.0

125.57Six months ending
September 30, 2023
Full year

4. Notes(1) Changes in significant subsidiaries during the year ended March 31, 2023
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:

NoNo

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2023

10,000,000 shares As of March 31, 2022

10,000,000 shares

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

706,407 shares As of March 31, 2022

715,126 shares

Average number of shares during the period
Year ended March 31, 2023

9,288,216 shares Year ended March 31, 2022

2

9,429,821 shares

Consolidated financial statements
Consolidated balance sheets(Thousands of yen)
AssetsCurrent assets
Cash and deposits
Accounts receivable - tradeOther
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Deferred tax assets
Other
Total investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Accounts payable - other
Income taxes payable
Accrued consumption taxes
Provision for bonuses
Asset retirement obligations
Other
Total current liabilities
Non-current liabilities
Retirement benefit liability
Asset retirement obligations
OtherTotal non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Foreign currency translation adjustment
Total accumulated other comprehensive income
Share acquisition rights
Total net assets
Total liabilities and net assets

3

As of March 31, 2022

As of March 31, 2023

4,058,265
2,226,864
463,806(475)
6,748,461

4,406,607
2,899,917
445,444－
7,751,969

328,233
79,041
407,274

453,952
129,687
583,639

780,712
218,095
998,807674,957
312,616
987,574

138,735
548,039686,775
2,092,858
8,841,319

170,613501,442672,056
2,243,270
9,995,239

1,328,319
375,271
237,927
51,64923,300149,071
2,165,539

1,727,949
218,476
487,640
102,813
1,258
178,847
2,716,985

24,30674,9301,379
100,615
2,266,154

30,864
123,921
11,297
166,082
2,883,068

30,0001,237,532
5,618,539(349,151)
6,536,921

30,0001,239,291
6,111,694(344,915)
7,036,070

1,943
1,943
36,2996,575,164
8,841,319

5,342
5,342
70,758
7,112,171
9,995,239

Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income
Fiscal year ended
March 31, 2022
15,589,085
10,744,245
4,844,839
3,223,379
1,621,460

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Rental income
Gain on forfeiture of unclaimed dividends
Subsidy incomeOther
Total non-operating income
Non-operating expenses
Interest expenses
Rental expenses on real estate
Foreign exchange losses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Surrender value of insurance policies
Total extraordinary income
Extraordinary losses
Impairment loss
Loss on retirement of non-current assets
Other
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to owners of parent

4(Thousands of yen)
Fiscal year ended
March 31, 2023
18,791,365
13,216,160
5,575,205
4,253,467
1,321,738

60
1,140－
－
179
1,380

69
1,140
320
903
1,660
4,094

364
966
1,571
167
3,069
1,619,771

28
966
567
17
1,580
1,324,251

1,537
60,433
61,971

227－
227

125,289384
17
125,691
1,556,050
583,394
9,703
593,097
962,953
962,953

－
5,459
－
5,459
1,319,019
475,004(20,580)
454,423
864,595
864,595

Consolidated statements of comprehensive income
Fiscal year ended
March 31, 2022
962,953

ProfitOther comprehensive income
Foreign currency translation adjustment
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparent

5(Thousands of yen)
Fiscal year ended
March 31, 2023
864,595

1,615
1,615
964,568

3,398
3,398
867,994

964,568

867,994

Consolidated statements of changes in equity
Fiscal year ended March 31, 2022
(Thousands of yen)
Shareholders’ equity

Share capital

Balance at beginning of period

30,000CapitalsurplusRetainedearnings

1,230,530

5,012,823

Treasuryshares(1,279)

Accumulated
othercomprehensi
ve income
Foreign
Totalcurrency
shareholders’translation
equityadjustment

6,272,073

328

Shareacquisitionrights－Total net
assets6,272,402

Changes during period
Dividends of surplus(357,236)(357,236)(357,236)

Profit attributable to owners ofparent962,953

962,953

962,953(349,942)(349,942)(349,942)

2,070

9,072

9,072

Purchase of treasury shares
Disposal of treasury shares

7,002

Net changes in items other thanshareholders' equity
Total changes during periodBalance at end of period

1,615

36,29937,914－

7,002

605,716(347,871)

264,847

1,615

36,299302,761

30,0001,237,532

5,618,539(349,151)

6,536,921

1,943

36,2996,575,164

Fiscal year ended March 31, 2023
(Thousands of yen)
Shareholders’ equity

Share capital

Balance at beginning of period

30,000CapitalsurplusRetainedearnings

Treasuryshares1,237,532

5,618,539(349,151)

Accumulated
othercomprehensi
ve income
Foreign
Totalcurrency
shareholders’translation
equityadjustment

6,536,921

1,943

Shareacquisitionrights

36,299Total net
assets6,575,164

Changes during period
Dividends of surplus(371,441)(371,441)(371,441)

Profit attributable to owners ofparent

864,595

864,595

864,595

(40)

(40)

(40)

4,276

6,034

6,034

Purchase of treasury shares
Disposal of treasury shares

1,758

Net changes in items other thanshareholders' equity
Total changes during period
Balance at end of period

3,398

34,45937,858－1,758

493,1544,235

499,149

3,398

34,459537,007

30,0001,239,291

6,111,694(344,915)

7,036,070

5,342

70,758

7,112,171

6

Consolidated statements of cash flows
Fiscal year ended
March 31, 2022
Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment loss
Amortization of goodwill
Surrender value of insurance policies
Share-based payment expenses
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in retirement benefit liability
Interest income
Interest expenses
Gain on sale of non-current assets
Loss on retirement of non-current assets
Decrease (increase) in trade receivables
Decrease (increase) in other current assets
Increase (decrease) in accounts payable - other
Increase (decrease) in other current liabilities
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Purchase of shares of subsidiaries resulting in change inscope of consolidation
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Repayments of long-term borrowings
Repayments of lease obligations
Redemption of bonds
Purchase of treasury shares
Proceeds from exercise of employee share options
Dividends paid
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

7(Thousands of yen)
Fiscal year ended
March 31, 2023

1,556,050
121,337
125,28965,323(60,433)
36,299(655)(16,894)
3,434
(60)
364
(1,537)384(133,876)(108,538)
79,450(344,874)
8,815
1,329,87759(366)(504,803)
824,767

1,319,019
147,511－
105,754－
34,008(475)
51,1636,558(69)
28(227)5,459(673,052)(92,954)
323,456
280,970
20,196
1,527,347
68(28)(516,153)
1,011,233(230,176)
13,627(75,237)(217,084)
3,044(71,448)(921,327)－(51,022)(1,264,136)(6,409)(291,898)(40,010)(14,288)(70,000)(349,942)
5,940(356,727)(825,027)
1,615(1,262,782)
5,283,819
4,021,037－(2,892)
－
(40)
2,624
(371,877)(372,185)
1,628
348,777
4,021,037
4,369,815