This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) ended March 31, 2024 pursuant to the Japanese Financial Instrument andExchange Law. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki Hokokusho shall prevail.

Quarterly Report（Article 24-4-7, Paragraph 1 of the Financial Instruments andExchange Act）
Fiscal Year
From January 1, 2024
（The 1st Quarter of the 67th Term）
To March 31, 2024

Coca-Cola Bottlers Japan Holdings Inc.

（E00417)

This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) ended March 31, 2024 pursuant to the Japanese Financial Instrument andExchange Law. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki Hokokusho shall prevail.

Table of Contents[Cover Page]
Part I Corporate information ..................................................................................................................................................................... 1
Section 1. Corporate overview .............................................................................................................................................................. 1
1. Changes in key management indicators......................................................................................................................................... 1
2. Business content ............................................................................................................................................................................ 1
Section 2. Business situations................................................................................................................................................................ 2
1. Risk of business ............................................................................................................................................................................. 2
2. Management's analysis of financial condition, results of operations and cash flows ..................................................................... 2
3. Significant management contracts ................................................................................................................................................. 7
Section 3. Status of the filing company ................................................................................................................................................. 8
1. Status of Shares ............................................................................................................................................................................. 8
2. Status of Officers ........................................................................................................................................................................... 9
Section 4 Accounting status................................................................................................................................................................. 10
1. Condensed Quarterly Consolidated Financial Statements and Notes .......................................................................................... 11
2. Others .......................................................................................................................................................................................... 24
Part II Information of guarantor companies of the filing company ......................................................................................................... 25

This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) ended March 31, 2024 pursuant to the Japanese Financial Instrument andExchange Law. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki Hokokusho shall prevail.

【Cover Page】[Documents to be submitted]

Quarterly Report[Underlying article]

Article 24-4-7, Paragraph 1 of the Financial Instruments and Exchange Act[Recipient]

Director-General of the Kanto Local Finance Bureau[Submission date]

May 9, 2024

[Quarterly accounting period]

67th fiscal term (from January 1, 2024 to March 31, 2024)[Company name]Coca-Cola Bottlers Japan Holdings Inc.

[Name and position of representative]

Calin Dragan, Representative Director & President[Address of head office]9-7-1 Akasaka, Minato-ku, Tokyo[Telephone number]+81-800-919-0509[Name of administrative contact]

Tatsuhiro Ishikawa, Head of Controllers Senior Group Division, Finance[Closest contact point]

9-7-1 Akasaka, Minato-ku, Tokyo[Telephone number]+81-800-919-0509[Name of administrative contact]

Tatsuhiro Ishikawa, Head of Controllers Senior Group Division, Finance[Location provided for viewing]

Tokyo Stock Exchange, Inc.
（2-1 Nihonbashi Kabutocho, Chuo-ku, Tokyo）

This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) filed with the Director-General of the Kanto
Local Finance Bureau via Electronic Disclosure for Investors` NETwork (“EDINET”) pursuant to the Financial Instruments andExchange Act of Japan. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki
Hokokusho shall prevail.
For the purpose of this Quarterly Report, unless context indicates otherwise, the “Company,” “we,” and “CCBJH” refer to Coca-Cola
Bottlers Japan Holdings Inc., and the “Group” refers to the Company and its subsidiaries.

This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) ended March 31, 2024 pursuant to the Japanese Financial Instrument andExchange Law. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki Hokokusho shall prevail.

Part I Corporate information
Section 1. Corporate overview
1. Changes in key management indicators
Issuance

The 66th Term
Consolidated
First quarter

The 67th Term
Consolidated
First quarter

The 66th Term

Accounting period

From
January 1, 2023
toMarch 31, 2023

From
January 1, 2024
toMarch 31,2024

FromJanuary 1, 2023
toDecember 31, 2023

Revenue(Millions of yen)

182,063

186,528

868,581Net income (loss) for the period before income
taxes(Millions of yen)

(9,151)(3,342)

3,224

Net income (loss) for the period attributable toowners of the parent(Millions of yen)

(6,459)(2,897)

1,871

Comprehensive income for the period
attributable to owners of the parent(Millions of yen)

(6,355)(1,765)2,209

Equity attributable to owners of the parent(Millions of yen)

465,238

464,005

469,847

Total assets(Millions of yen)

819,494

830,376

844,832

Basic income (loss) per share(Yen)(36.02)(16.14)

10.43

Diluted earnings per share

(Yen)

－

－

10.36

Ratio of equity attributable to owners of theparent to total assets

(%)

56.8

55.9

55.6

Cash flows from operating activities(Millions of yen)

8,062

(7,977)

59,102

Cash flows from investing activities(Millions of yen)

(8,062)

2,298(14,287)

Cash flows from financing activities(Millions of yen)

(6,295)(3,573)(15,229)

Cash and cash equivalents at the end of theperiod(Millions of yen)

77,779104,408

113,660

Notes

1.
2.
3.
4.
5.

Because the Company prepares condensed quarterly consolidated financial statements, changes in the key management indicators for the filingcompany are not described.
Diluted earnings per share is not presented, as the effects of dilutive share on earnings per share are anti-dilutive for the First quarter of previous
fiscal year and current fiscal year.
The above indicators are based on the condensed quarterly consolidated financial statements and consolidated financial statements prepared inaccordance with International Financial Reporting Standards (“IFRS”).
Fractions of one million yen are rounded to the nearest million.
The Company has introduced Executive reward BIP Trust and Stock-granting ESOP Trust in the previous Second quarter, and the Company
shares held by these trusts are recorded as treasury shares in the quarterly consolidated financial statements. Accordingly, the Company shares
held by these trusts are included in the number of treasury shares to be deducted from the average number of shares during the period for the
calculation of basic income (loss) per share and diluted earnings per share in the previous fiscal year and the First quarter of current fiscal year.

2. Business content
There were no significant changes in the businesses that the Group (the Company and its subsidiaries) is engaged in the First
quarter (January 1, to March 31, 2024).

－1－

This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) ended March 31, 2024 pursuant to the Japanese Financial Instrument andExchange Law. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki Hokokusho shall prevail.

Section 2. Business situations
1. Risk of business
During the first quarter of the current fiscal year, there were no significant changes to the risk environment or to the businessrisks that were described in the Annual Securities Report for the previous fiscal year.
The company continues to monitor our operational environment for new risks and opportunities and will proactively work to
mitigate risks and leverage opportunities.

2. Management's analysis of financial conditions, results of operations and cash flows
Note that matters related to future developments that are mentioned in this section are judgments of the Group that were madeas of the date of quarterly securities report submission.
(1) Status of Business Performance
In this first quarter (January 1, 2024 to March 31, 2024), the total domestic nonalcoholic ready-to-drink (NARTD) beverageindustry volume is estimated to have grown by about 3% versus the same period of the previous fiscal year. Despite the negative
impact on demand from price revisions implemented by beverage companies in the previous fiscal year, demand increased on
the back of a continued recovery in traffic. The business environment remained uncertain as rising commodity and utility prices,along with the yen's depreciation impacted business and consumer behavior.
Under these circumstances, as the first year of our strategic business plan “Vision 2028,” we have positioned 2024 as “The yearof strong profit build up.” We have been working to implement top-line growth initiatives focused on profit maximization, costsavings through implementing transformation across the entire organization, and further strengthening of our business foundation.
In commercial fields, in addition to striving to maintain product prices after the series of price revisions implemented to date, wehave worked to launch new products, expand our sales space, and conduct effective marketing activities. Furthermore, we havebeen negotiating with customers for smooth implementation of the price revisions of some of our products for shipments fromMay 1 2024. In the manufacturing and logistics fields, we have been promoting the "local production for local consumption
model" based on the concept of manufacturing products in plants close to the place of consumption. In addition to expanding
manufacturing capacity and building a flexible manufacturing framework, we have worked to improve our logistics network,
including the leveraging of Mega-DCs (Distribution Centers) to strengthen our supply chain foundation and reduce costs. In theareas of back-office and IT, we have worked to further promote standardization and automation of business processes. In addition,
on January 4 2024, we established NeoArc Inc., a joint venture with Accenture Japan Ltd, to further promote data-driven
management.
We are working continuously to realize ESG targets based on creating shared value with society. With regard to water
conservation and enhanced PET bottle recycling, we have expanded our efforts to collaborate with customers and government
agencies to reduce environmental impact through the formation of a recycling-based society and to expand business opportunities
through collaboration. As for external recognition, CDP, an international non-profit organization, selected CCBJH to the"Supplier Engagement Leaderboard," the highest rating in its 2023 Supplier Engagement Rating and have also been selected as
an A List rating, the highest rating in both the "Climate Change" and "Water Security" category in the Sustainability Survey. In
addition, in February 2024, we were selected as a component of the Morningstar Japan ex-REIT Gender Diversity Tilt Index inrecognition of our efforts to promote Diversity, Equity & Inclusion (DE&I).
Details for the fiscal quarter earnings are as follows.

－2－This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) ended March 31, 2024 pursuant to the Japanese Financial Instrument andExchange Law. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki Hokokusho shall prevail.

Summary of Business Performance

The First quarter (January 1 to March 31)(Millions of yen except sales volume)2023
182,063103
78,74188,002186369
8(9,437)
1,123
846(9,160)(6,459)

Revenue
Sales volume (million cases)
Gross profit
Selling, General & Administrative Expenses
Other income (Recurring)
Other expenses (Recurring)
Investment income on equity method
Business loss
Other income (non-recurring)
Other expenses (non-recurring)Operating loss
Net loss attributable to owners of parent
Notes

1.

2024
186,528
104
81,44189,288287
302
16(7,847)
5,412
635(3,070)(2,897)

Change
(%)
2.5
0
3.4
1.5
54.1
(18.0)
111.2
－
382.1
(25.0)－－“Business loss” is measure of our recurring business performance. “Business loss” deduct cost of sales and selling, general andadministrative expenses from revenue, and includes other income and expenses which we believe are recurring in nature.

2.

Sales volume in 2023 is revised retroactively due to changes of counting segmentation and scope in some products.

Consolidated revenue was 186,528 million yen (an increase of 4,465 million yen or 2.5% from the same period in the previousyear). Despite the negative impact on volume from the price revisions implemented in the previous fiscal year and from theinclement weather in March, sales volume was flat from the same period of the previous year. This was the result of efforts tointroduce new products, expand sales space, and implement effective marketing activities to capture demand with increased
traffic. In addition, the series of price revisions resulted in an improved wholesale revenue per case, leading to higher revenues
compared to the same period of the previous year.
Consolidated business loss improved by 1,590 million yen (loss reduced) and was a loss of 7,847 million yen (9,437 million
yen loss in prior year period). In addition to the profit contribution from top-line growth, cost savings in the supply chain andback-office areas through transformation and controlling increased cost from higher commodity, utility prices and the weaker
yen to a level below the previous year contributed to improved profitability.
Consolidated operating loss improved by 6,090 million yen (loss reduced) and was a loss of 3,070 million yen (9,160 million
yen loss in previous year period). The primary reason is the business loss improving versus the same period of the previous year
(loss reduced) and the gains from sales and disposals of property, plant, and equipment that increased other income (nonrecurring). Other income (non-recurring) is 5,412 million yen in gain on sales and disposals of property, plant, and equipment,
which was realized in the process of optimizing the balance sheet. Other expenses (non-recurring) include 367 million yen inbusiness structure improvement expenses related to the implementation of fundamental transformation.
Net loss attributable to owners of the parent improved by 3,563 million yen (loss reduced). With operating loss improvingfrom the same period of the previous year, it was a loss of 2,897 million yen (6,459 million yen loss in previous year period).

－3－

This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) ended March 31, 2024 pursuant to the Japanese Financial Instrument andExchange Law. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki Hokokusho shall prevail.

Sales volume trends (% change from same period of previous year)
Sales volume in the first quarter was flat versus the same period of the previous year. Despite the negative impact on demand
from price revisions implemented in October of 2023 for large PET bottle products and from the inclement weather in March,
the continued traffic recovery and effective commercial initiatives contributed. In addition, wholesale revenue per case continued
to improve with the series of price revisions.
By channel, sales volume declined 11% in supermarkets, despite efforts to acquire sales space focusing on core products andexecuting campaigns, large PET bottle products were impacted by the price revisions implemented in the previous fiscal year
and from the inclement weather in March. Sales volume at drugstores and discounters was also impacted by the price revisions
and dropped by 6%. Vending sales volume grew by 1%, supported by the market share base built to date and by digital leveragesuch as campaigns implemented through the Coke ON smartphone app and QR payments to capture demand, despite the impact
from inclement weather in March. In CVS, although the competitive environment remained severe, efforts aimed at expanding
shelf space and marketing initiatives leveraging digital technology led to a sales volume increase of 8%. In retail & food service,
sales volume increased by 7% with the traffic returning to restaurants and entertainment facilities. In online, volume grew by
23% despite the intensifying competitive environment, strengthened product lineup tailored to the channel characteristics andpromotions implemented together with online customers contributed.
By beverage category performance, sparkling sales volume was flat versus the same period of the previous year, while volume
grew for Coca-Cola at restaurants and online, sales volume for large PET bottle products declined due to price revisions. Sales
volume of tea products increased by 2% driven by growth from Kocha Kaden and Ayataka. Coffee sales volume was flat versus
the same period of the previous year, supported by the renewal of core products for Georgia and Costa Coffee, and medium PET
bottle products targeted to capture at home demand contributed, despite volume being impacted from the price revisions
implemented to can products in May of 2023. In sports, sales volume decreased by 2% despite the volume growth in small andmedium PET bottle products, large PET bottle product volume declined due to price revision impact. Water sales volume also
dropped by 6% due to large PET bottle product volume declining from the price revision impact. Juice sales volume increasedby 11% with the recovery at restaurants and vending as well as contributions from the new product Minute Maid Qoo White
Grapes.
In the alcohol category, despite the renewal of Lemon-dou and initiatives to strengthen sales for the non-alcoholic beverages
such as Yowanai Lemon-dou, sales volume was impacted by the competitive environment and declined by 9%.

－4－This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) ended March 31, 2024 pursuant to the Japanese Financial Instrument andExchange Law. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki Hokokusho shall prevail.

(2) Qualitative Information on Consolidated Financial Position
Assets at the end of the quarter were 830,376 million yen, a decrease of 14,456 million yen from the end of the previous fiscal
year. This is mainly due to a decrease in “Cash and cash equivalents”, and “Property, plant, and equipment.”
Liabilities at the end of the quarter were 366,190 million yen, a decrease of 8,621 million yen from the end of the previous
fiscal year. This is mainly due to the decrease in “Income tax payables.”Equity at the end of the quarter was 464,186 million yen, a decrease of 5,835 million yen. This mainly due to a decrease in“Retained earnings” as a result of dividend payments.
(3) Qualitative Information on Consolidated Statements of Cash Flow
The cash flow conditions for the First quarter of the current fiscal year are as follows:<Cash Flows from Operating Activities >Net cash used for operating activities was 7,977 million yen (8,062 million yen generated from operating activities in theprevious fiscal year). This is mainly due to loss for the period before income taxes and “Decrease in other liabilities.”<Cash Flows from Investing Activities>
Net cash generated from investing activities was 2,298million yen (8,062 million yen used for investing activities in theprevious fiscal year). This is mainly due to “Proceeds from sales of property, plant and equipment and intangible assets,” while“Payments for acquisitions of property, plant and equipment and intangible assets” was recorded.
<Cash Flows from Financing Activities>
Net cash used for financing activities was 3,573 million yen (6,295 million yen used for financing activities in the previous
fiscal year). This is mainly due to “Dividends paid.”
As a result of these activities, cash, and cash equivalents at the end of the First quarter were 104,408 million yen, a decreaseof 9,252 million yen compared to the end of the previous fiscal year.
(4) Business and financial challenges to be addressed
1. Issues to be addressed
There were no significant changes in the issues to be addressed by the Group during the consolidated First quarter of thecurrent fiscal year.

－5－This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) ended March 31, 2024 pursuant to the Japanese Financial Instrument andExchange Law. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki Hokokusho shall prevail.

2. Basic Policies on the Control of the Joint-share Company
a. Descriptions of basic policies
The Company believes that the persons and/or entities (hereinafter referred as “Persons”) who control decisions on the
Company’s financial and business policies need to understand the source of the Company’s corporate value and will make itpossible to continually and persistently ensure and enhance the Company’s corporate value and, in turn, the common interestsof its shareholders. The Company believes that a decision on any proposed acquisition that would involve a change of corporate
control of the Company should ultimately be made based on the intent of its shareholders as a whole. Also, the Company
would not reject a large-scale acquisition of shares in the Company if it would contribute to the corporate value of the Company
and, in turn, the common interests of its shareholders.
However, there are some forms of large-scale acquisition of shares that benefit neither the corporate value of the target
company nor the common interests of its shareholders: those with a purpose that would obviously harm the corporate value ofthe target company and, in turn, the common interests of its shareholders; those with the potential to substantially coerce
shareholders into selling their shares; those that do not provide sufficient time or information for the target company’s boardof directors and shareholders to consider the terms of the large-scale acquisition of shares, or for the target company’s boardof directors to present a business plan or an alternative proposal; and those that require the target company to discuss ornegotiate with the acquirer in order to procure more favorable terms for shareholders than those presented by the acquirer.
The Company believes that the Persons who control decisions on the Company’s financial and business policies need to be
Persons who (i) fully understand the importance of providing freshness and refreshment to people around the world andembedding the Coca-Cola brand, which is now a part of our life style, in local communities; (ii) strive aggressively to win in
the market as the customers’ preferred partner with a deep understanding of the Company’s corporate philosophy; (iii)appreciate employees who have a strong sense of responsibility to thoroughly pursue customer satisfaction, and proactively
work on building a workplace environment that can make each and every employee feel rewarded, motivated and proud of
being a member of the Coca-Cola family; and (iv) contribute to local communities and proactively address environmental
issues with a strong sense of responsibility as a corporate citizen that continues to strive to assist in the realization of an affluent
society, preserve relationships of mutual trust with customers, business partners, shareholders and employees and perform totheir expectations, and make it possible to continually and persistently ensure and enhance the Company’s corporate value
and, in turn, the common interests of its shareholders from a mid- to long-term perspective.
Therefore, the Company believes that Persons who would make a large-scale acquisition of the shares in the Company in amanner that does not contribute to the corporate value of the Company, and, in turn, the common interests of its shareholders
would be inappropriate to become Persons who would control decisions on the Company’s financial and business policies. We
must secure the Company’s corporate value and, in turn, the common interests of its shareholders by taking necessary andreasonable countermeasures against a large-scale acquisition of the Company’s shares by such Persons.
b. Initiatives to realize the basic policies(a) Summary of special initiatives that contribute to realizing the basic policies
The Group not only assumes a leading role in transforming the Coca-Cola business in Japan by deploying various joint
initiatives such as product development and test marketing with The Coca-Cola Company and Coca-Cola (Japan) Company,
Limited (100% subsidiary of The Coca-Cola Company) as a strategic partner, but also strives to become a company trusted
by the stakeholder groups of consumers, customers, shareholders, and employees.
Soft drink industry volume growth in Japan is expected to be muted, given the developed nature of the market as a whole.
The business environment surrounding the Company is projected to become even more intense with further acceleration of
the industry’s restructuring for survival, such as the expansion of business tie-ups between beverage manufacturers.
Under such circumstances, the Group aims to become the preferred partner of our customers and consumers in all drinking
occasions by establishing a robust and sustainable operating model, pursuing success in high-priority areas, and drasticallytransforming the business to ensure growth.
The Company also made a transition to a company with an Audit and Supervisory Committee in order to further reinforce
the governance system. The Audit and Supervisory Committee serves as the auditing body of the Company that is comprised
exclusively of external directors, including multiple independent external directors. To strengthen the management oversightfunction, these external directors that serve as members of the Audit and Supervisory Committee have each been granted
voting rights in Board of Director meetings, in addition to the right to state their opinions in shareholders’ meetings on
matters pertaining to the designation of board members and their remuneration, among others. In order to separate thedecision-making, business management and business execution functions, the Company is implementing a corporate
executive officer system. In addition to the foregoing, for more productive discussions on highly important matters in the
Board of Directors meetings, the Company is delegating the authority to make decisions on certain important matters that
require prompt business executions to specific directors as well as facilitating speedy decision making of other matters.
－6－This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) ended March 31, 2024 pursuant to the Japanese Financial Instrument andExchange Law. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki Hokokusho shall prevail.

(b) Outline of measures to prevent inappropriate persons from controlling the finance and business policy decisions of theCompany in light of the basic policy
Upon any substantial acquisition of the Company shares, the Company strives to proactively collect and promptly
disclose information in order to ensure and improve the corporate value of the Company and the common interest ofshareholders as well as make appropriate measures as needed under the scope permitted by laws and regulations and the
Articles of Incorporation.
When a Board Meeting determines it necessary to reapply anti-takeover measures in order to ensure and improve thecorporate value of the Company and the common interest of shareholders, taking into consideration of the future trend of
the society, the Company consults with shareholders at the Meeting of Shareholders as stipulated in the Articles ofIncorporation for decision of the implementation.
c. Decisions of the Board of Directors of the Company on the specific measures and the reasons
The measure described in the previous b. (a) was introduced as a specific measure to continuously and sustainably
improve the corporate value of the Company and the common interest of shareholders and is consistent with the Company’s
basic policy.
In addition, the measure described in the previous b. (b) was introduced as a specific measure to ensure and improve thecorporate value of the Company and the common interest of shareholders as needed under the scope permitted by laws andregulations and the Articles of Incorporation focusing on the intention of shareholders, and it is not intended to undermine
the shareholders’ common interests and preserve the positions of the Company officers.
(5) Research and development activities
Not applicable.
(6) Major facilities
The new installation of the important facilities that had been planned as of the end of the previous fiscal year and completed
during the First quarter of the current fiscal year is as listed below.

Name of company
Coca-Cola Bottlers
Japan Inc.
Note

Name of office / site (location) Name of business segment
Branches / (-)

Beverage business

Facility description
Vending machines/coolers

Amount(millions of yen)
3,986

Completed in
March 2024

Consumption tax is not included in the above amounts.

3. Significant management contracts
There were no decisions or conclusions for significant management contracts in the First quarter of the current fiscal year.

－7－This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) ended March 31, 2024 pursuant to the Japanese Financial Instrument andExchange Law. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki Hokokusho shall prevail.

Section 3. Status of the filing company
1. Status of Shares(1) Total number of shares① Total number of shares
Class

Total Number of Authorized Shares

Common shares

500,000,000

Total

500,000,000② Issued sharesClass

No. of issued shares as of end
of 1st Quarter（March 31,2024）

No. of issued shares as offiling date
（May 9, 2024）

Name of listed shareexchange or registeredauthorized financial
instruments firms`
association

Details

Commonshares206,268,593

206,268,593

Tokyo Stock Exchange（Prime Market）

100 per unit shares

Total

206,268,593

206,268,593--(2) Status of stock acquisition rights① Status of share options
Not applicable.
② Other share acquisition rights
Not applicable.
(3) Status of exercised moving strike convertible bonds
Not applicable.
(4) Transition of total number of issued shares and capital stock

Date

January 1, 2024 –March 31, 2024

Increase/decreas
e in total no. of
issued shares(Thousandshare)－

Balance of total Increase/ decrease
Capital stock
no. of issuedof capital stockbalanceshares(Millions of(Millions of yen)(Thousand share)yen)
206,269－－8－

15,232

Increase/decreas
e of capitalreserve(Millions ofyen)

Capital reservebalance(Millions ofyen)－

108,167

This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) ended March 31, 2024 pursuant to the Japanese Financial Instrument andExchange Law. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki Hokokusho shall prevail.

(5) Major shareholder status
Not applicable as this is the First quarter of the current fiscal year.
(6) Status of voting rights① Issued shares
As of March 31,2024
Class

Number of shares

Number of voting rights

Details

Non-voting shares

－

－

－

Shares with restricted voting right (Treasury
Shares)－－－Shares with restricted voting right (Others)

－

－

－

－

－

Shares with full voting rights (Treasury
Shares)Common shares 23,785,100

Shares with full voting rights (Others)

Common shares 181,753,000

Odd lot shares

Common shares

Total number of issued shares－

730,493－－

206,268,593

－

－

－

Voting rights of all shareholders
Notes

1,817,530

1,817,530－

1.

“Shares with full voting rights (Others)” include 2,300 shares under in JASDEC’s name (23 voting rights).

2.

“Shares with full voting rights (Others)” include 1,260,900 shares (number of voting rights: 12,609) held by Executive reward BIP Trust and1,679,400 shares (number of voting rights: 16,794) held by Stock-granting ESOP Trust.

② Treasury Shares
As of March 31,2024
Name of owner

Address of owner

Coca-Cola
Bottlers Japan

9-7-1, Akasaka, Minato-ku,

Holdings Inc.

Tokyo

Total
Note

－

No. of shares
owned under
own nameNo. of shares
owned underothers’ name

Total number ofshares owned

Ratio of shares owned
against total no. of
issued shares (%)

23,785,100－

23,785,100

11.53

23,785,100－

23,785,100

11.53

The Company shares held by Executive reward BIP Trust, and Stock-granting ESOP Trust are not included in the above number of shares owned.

2. Status of Officers
Not applicable.

－9－This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) ended March 31, 2024 pursuant to the Japanese Financial Instrument andExchange Law. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki Hokokusho shall prevail.

Section 4 Accounting status
1. Preparation of Accounting methods for the quarterly consolidated financial statements
The Company’s condensed quarterly consolidated financial statements have been prepared in accordance with International
Accounting Standards Article 34 “Interim Financial Reporting” based on the Ordinance on the Terminology, Forms, and Preparation
Methods of Quarterly Consolidated Financial Statements Article 93 (Cabinet Office Ordinance No. 64 of 2007).

2. Audit certification
The Company’s condensed quarterly consolidated financial statements for the First quarter of the current fiscal year (January 1,
2024 to March 31, 2024) and the First quarter of the current fiscal year (January 1, 2024 to March 31, 2024) have been reviewed
by Ernst & Young ShinNihon LLC based on the provisions of Article 193-2 Paragraph 1 of the Financial Instruments and Exchange
Act.

－10－

This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) ended March 31, 2024 pursuant to the Japanese Financial Instrument andExchange Law. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki Hokokusho shall prevail.

1. Condensed Quarterly Consolidated Financial Statements and Notes(1) Condensed Quarterly Consolidated Statement of Financial Position
Notes
AssetsCurrent assets:
Cash and cash equivalents
Trade and other receivables
Inventories
Other financial assets
Other current assets
Total current assets
Non-current assets:
Property, plant, and equipment
Right-of-use assets
Intangible assets
Investments accounted for using the equity
methodOther financial assets
Deferred tax assets
Other non-current assets

99Total non-current assets
Total assets－11－

Previous fiscal year
As of
December 31, 2023

(Millions of yen)
The First quarter
As ofMarch 31,2024

113,660
120,069
71,651
88
8,288

104,408
113,206
75,926637
10,177313,756

304,353

401,687
23,89463,819390,778
28,28263,609310

326

11,89825,222
4,245

12,35025,7804,899

531,077
844,832

526,023
830,376

This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) ended March 31, 2024 pursuant to the Japanese Financial Instrument andExchange Law. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki Hokokusho shall prevail.

Previous fiscal year
As of
December 31, 2023

(Millions of yen)
The First quarter
As ofMarch 31,2024

Liabilities and equity
Liabilities
Current liabilities:
116,61240,979
5,267
1,111
4,176
29,297

114,946
40,986
6,138
949
665
21,071

197,443

184,756

114,802
20,34915
19,856
1,781
16,757
3,809
177,369

114,31423,501
6
20,548
1,757
16,6494,659
181,434

Total liabilities

374,812366,190

Equity:Capital stock
Capital surplus
Retained earnings
Treasury shares
Accumulated other comprehensive income

15,232
451,389
88,365(85,362)223

15,232
451,367
81,270(85,015)1,151

469,847174
470,021464,005
181
464,186

844,832

830,376

Trade and other payables
Bonds and debts
Lease liabilities
Other financial liabilities
Income taxes payables
Other current liabilities
Total current liabilities
Non-current liabilities:
Bonds and debts
Lease liabilities
Other financial liabilities
Net defined benefit liabilities
Provisions
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities

9
9

9
9

6

Equity attributable to owners of parent
Non-controlling interests
Total equity
Total liabilities and equity－12－This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) ended March 31, 2024 pursuant to the Japanese Financial Instrument andExchange Law. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki Hokokusho shall prevail.

(2) Condensed Quarterly Consolidated Statements of Income【The First quarter】

Notes

Revenue
Cost of sales
Gross profit
Selling and general administrative expenses
Other income
Other expenses
Investment income on equity method
Operating loss
Financial income
Financial expenses
Loss for the period before income taxes
Income tax benefit
Net loss for the period

788Net loss for the period attributable to
Owners of parent
Non-controlling interests
Basic loss per share (yen)

10

－13－

The First quarter ofprevious fiscal year
(Three months ended
March 31, 2023)
182,063
103,32278,74188,002
1,309
1,214
8
(9,160)170
162(9,151)(2,697)(6,454)(Millions of yen)
The First quarter ofcurrent fiscal year
(Three months ended
March 31, 2024)
186,528
105,087
81,44189,2885,698
937
16(3,070)131
403(3,342)(466)(2,877)(6,459)5(2,897)20(36.02)(16.14)

This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) ended March 31, 2024 pursuant to the Japanese Financial Instrument andExchange Law. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki Hokokusho shall prevail.

(3) Condensed Quarterly Consolidated Statements of Comprehensive Income【The First quarter】

Notes
Net loss for the period
Other comprehensive income
Items that will not be reclassified subsequently to income orloss:
Net changes in financial assets measured at fair value throughother comprehensive income

The First quarter ofprevious fiscal year
(Three months ended
March 31, 2023)(6,454)(Millions of yen)
The First quarter ofcurrent fiscal year
(Three months ended
March 31, 2024)(2,877)

36

827

36

827

Subtotal
Total other comprehensive income for the period
Total comprehensive income for the period

68
68
104
(6,350)

305
305
1,132
(1,745)Comprehensive income attributable to:
Owners of parent
Non-controlling interests(6,355)
5(1,765)20

Subtotal
Items that may be reclassified subsequently to income:Cash flow hedges－14－This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) ended March 31, 2024 pursuant to the Japanese Financial Instrument andExchange Law. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki Hokokusho shall prevail.

(4) Condensed Quarterly Consolidated Statements of Changes in Equity
The First quarter of previous fiscal year (Three months ended March 31, 2023)(Millions of yen)
Equity attributable to owners of the parent

Notes

Capitalshare

CapitalsurplusRetainedearnings

Treasuryshares

Accumulated
othercomprehensive
incomeNoncontrollinginterests

Total

Total

15,232451,264

94,209(85,667)

1,177

476,216142

476,358

Net income (loss) for the period－－(6,459)－－(6,459)5(6,454)

Other comprehensive income

－

－

－

－

104

104

－

104

－

－

(6,459)－104(6,355)

5(6,350)－－(4,484)－－(4,484)－(4,484)Purchase of treasury shares

－

－

－

(1)

－

(1)

－

(1)

Transactions of share-based payment

－

121

－

－

－

121

－

121

－

－

(1)

－

1

－

－

－

－

－

－

－

(260)

(260)

－

(260)

Total transactions with owners－

121(4,484)

(1)

(259)

(4,623)－(4,623)

Balance as of March 31, 2023

15,232

451,386

83,266(85,668)

1,022

465,238147

465,385

Balance as of January 1, 2023
Comprehensive income for the period

Total comprehensive income for the period
Transactions with owners
Dividends of surplus

6

Reclassification from accumulated othercomprehensive income to retained
earnings
Reclassification from accumulated othercomprehensive income to non-financial
assetsThe First quarter of current fiscal year (Three months ended March 31, 2024)(Millions of yen)
Equity attributable to owners of the parent

Notes

Capitalshare

CapitalsurplusRetainedearnings

Treasuryshares

Accumulated
othercomprehensive
incomeNoncontrollinginterests

Total

Total

15,232

451,389

88,365(85,362)223

469,847174

470,021

Net income(loss) for the period－－(2,897)－－(2,897)20(2,877)

Other comprehensive income

－

－

－

－

1,132

1,132

－

1,132

－

－

(2,897)－

1,132(1,765)20(1,745)－－(4,486)－－(4,486)(17)(4,503)Purchase of treasury shares

－

－

－

(2)

－

(2)

－

(2)

Disposal of treasury shares

－

(126)

－

349

－

223

－

223

Transactions of share-based payment

－

105

－

－

－

105

－

105

－

－

288

－

(288)

－

－

－

－

－

－

－

84

84

－

84

－

－

－

－

－

－

4

4

Total transactions with owners

－

(22)

(4,198)

347

(204)

(4,076)(13)(4,090)

Balance as of March 31, 2024

15,232

451,367

81,270(85,015)1,151

464,005

181

464,186

Balance as of January 1, 2024
Comprehensive income for the period

Total comprehensive income for the period
Transactions with owners
Dividends of surplus

Reclassification from accumulated othercomprehensive income to retained
earnings
Reclassification from accumulated othercomprehensive income to non-financial
assetsOther change

6

－15－

This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) ended March 31, 2024 pursuant to the Japanese Financial Instrument andExchange Law. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki Hokokusho shall prevail.

(5) Condensed Quarterly Consolidated Statements of Cash Flows(Millions of yen)
Notes

The First quarter of previous fiscal year
(Three months ended
March 31, 2023)

The First quarter of current fiscal year
(Three months ended
March 31, 2024)

Cash flows from operating activities
Loss for the period before income taxes(9,151)(3,342)Adjustments for:
Depreciation and amortization

11,415

11,5857245

Impairment loss
Change in allowance for doubtful accounts(decrease)
Interest and dividends income

(51)

2

(6)

(1)

160

199

Interest expenses
Share of income of entities accounted for using
equity method
Gain on sale of property, plant, and equipment
Loss on disposal and sale of property, plant, andequipment, and intangible assets
Decrease in trade and other receivables

(8)

(16)

(1,128)(5,483)

263

204

5,436

6,854

Increase in inventories(5,779)(4,275)

Increase in other assets(53)(2,588)10,504605

Increase in trade and other payables
Increase in net defined benefit liabilities
Decrease in other liabilities
OthersSubtotalInterest received
Dividends received
Interest paid
Income taxes paid
Income taxes refund
Net cash generated from (used for) operating activities

Cash flows from investing activities
Payments for acquisitions of property, plant andequipment and intangible assets
Proceeds from sales of property, plant and equipment
and intangible assets

470

692

(2,576)(8,017)

(20)

(154)

9,483

(3,492)

1

0

6

1

(216)

(254)

(1,213)(4,241)

1

8

8,062

(7,977)(10,002)(7,881)

1,938

9,583

Payments for purchases of other financial assets

(5)

(1)

Proceeds from sale of other financial assets

7646

OthersNet cash generated from (used for) investing activities

－16－

1

(49)

(8,062)2,298

This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) ended March 31, 2024 pursuant to the Japanese Financial Instrument andExchange Law. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki Hokokusho shall prevail.
(Millions of yen)
Notes

The First quarter of previous fiscal year
(Three months ended
March 31, 2023)

Cash flows from financing activities
Repayments of long-term loans payable

The First quarter of current fiscal year
(Three months ended
March 31, 2024)

(500)

(500)

(1,311)(1,541)

Proceeds from disposal of treasury shares－

223

Payments for purchases of treasury shares

(1)

(2)

(4,484)(4,486)

Dividends paid to non-controlling interests－

Proceeds from sale and leaseback

－

(17)
2,747

Others－4

Repayments of lease liabilities

Dividends paid

6

Net cash used for financing activities(6,295)(3,573)

Decrease in cash and cash equivalents(6,295)(9,252)

Cash and cash equivalents at the beginning of the year

84,074

113,660

Cash and cash equivalents at the end of the period

77,779104,408－17－

This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) ended March 31, 2024 pursuant to the Japanese Financial Instrument andExchange Law. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki Hokokusho shall prevail.

Notes to condensed quarterly consolidated financial statements
1. Introduction
Coca-Cola Bottlers Japan Holdings Inc. (hereinafter referred to as “the Company”) is a holding company located in Japanand is listed on the Prime Market of the Tokyo Stock Exchange. Under the Coca-Cola brand, the Company, and its subsidiaries(collectively, the “Group”) engage in purchases, sales, production, bottling, packaging, distribution and marketing of carbonatedbeverages, coffee beverages, tea-based beverages, mineral water, alcohol, and other soft drinks in Japan.
The Group’s condensed quarterly consolidated financial statements consist of equities of the Company, subsidiaries, andassociates. The condensed quarterly consolidated financial statements were approved by our Representative Director & President,
Calin Dragan and our Representative Director, Vice President, and Chief Financial Officer (Head of Finance), Bjorn Ivar Ulgenes
on May 9, 2024 and take into account events after the reporting period to that date (see Note 11, “Subsequent events”).
2. Basis of preparation
The Company’s condensed quarterly consolidated financial statements have been prepared in accordance with International
Accounting Standards Article 34 “Interim Financial Reporting” based on Article 93 of the Ordinance on the Terminology, Forms,
and Preparation Methods of Quarterly Consolidated Financial Statements (Cabinet Office Ordinance No. 64 of 2007), upon
meeting the requirements of a designated international accounting standard specified company as set forth in Article 1-2 of theaforementioned Ordinance.
Condensed quarterly consolidated financial statements should be used in conjunction with consolidated financial statements
for the previous fiscal year as they do not include all the information required in the annual consolidated financial statements.
Condensed quarterly consolidated financial statements are stated in Japanese yen. All condensed quarterly consolidated
financial statements are rounded to the nearest million yen unless otherwise stated.
3. Material accounting policies
The material accounting policies applied by the Group in the condensed quarterly consolidated financial statements are thesame as the accounting policies applied in the consolidated financial statements for the previous fiscal year.
Income tax benefit for the First quarter of current fiscal year has been calculated on the basis of the annual estimated effective
tax rate.
4. Significant accounting judgments, estimates and assumptions
In preparing the condensed quarterly consolidated financial statements in accordance with IFRS, management is required tomake judgments, estimates and assumptions that affect the application of the Group’s accounting policies and the reported
amounts of assets, liabilities, revenue, and expenses. Actual results may differ from these estimates. The estimates and theassumptions underlying the estimates are continually reviewed and are based on historical experience and other factors,
including future events, which are believed to be reasonable under the environment. Accounting estimates are based on the mostappropriate information at the time the consolidated financial statements are filed, but if any estimates in further into the futurechanges, the impact of the revises is recognized in the consolidated statements of profit or loss and consolidated statements ofcomprehensive income subsequent to the reporting period in which they are revised
Accounting judgments, estimates and assumptions that have a significant impact on the condensed quarterly consolidated
financial statements will be revised based on the same concept as in the consolidated financial statements for the previous
consolidated fiscal year.
5. Segment Information
The Group has a single segment as Beverage Business. Refer to Note 7 Revenue for the products and services of thereported segment.

－18－

This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) ended March 31, 2024 pursuant to the Japanese Financial Instrument andExchange Law. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki Hokokusho shall prevail.

6. Dividends
Dividend payments in the First quarter of previous fiscal year and current fiscal year were as follows:
The First quarter of previous fiscal year (January 1, 2023 – March 31, 2023)
Resolution

Type of share

Total amount ofdividends paid
(Millions of yen)

Dividends per
share
(Yen)

Dividend record date

Effective dateCommon shares

4,484

25

December 31, 2022

March 29, 2023

March 28, 2023
Ordinary General Meetingof Shareholders

The First quarter of current fiscal year (January 1, 2024 – March 31, 2024)
Resolution

Type of share

Total amount ofdividends paid
(Millions of yen)

Dividends per share(Yen)

Dividend record date

Effective dateCommon shares

4,562

25

December 31, 2023

March 28, 2024

March 26, 2024
Ordinary General Meetingof Shareholders
Note

The total amount of dividends includes 76 million yen for the Company shares held by Executive reward BIP Trust and Stock-granting ESOP Trust.

7. Revenue
The Group's organizational structure is based on the single beverage business segment. Discrete financial information isavailable for the components of the Group, and operating results are regularly reviewed by the Board of Directors (chief
operating decision makers) to make decisions about the allocation of business resources. As such, the earnings recorded
under the beverage business are presented as Revenue.
In the beverage business, the Group purchases, manufactures, and sells carbonated beverages such as Coca-Cola, coffee
beverages, tea-based beverages, mineral water, alcohol, and other beverages in Japan. Revenue for sales of these products is
recognized primarily at the time of delivery as the customer has obtained control over the products and the performanceobligation is satisfied.
Payments relating to such performance obligations are received generally within two months of delivery. The contracts
with customers do not include any material financial elements.
(Millions of yen)
The First quarter ofprevious fiscal year
(Three months ended
March 31, 2023)

The First quarter ofcurrent fiscal year
(Three months ended
March 31, 2024)

182,059

186,5244

4

182,063

186,528

Revenue
Revenue from contracts with customers
Beverage
Other
Total

－19－

This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) ended March 31, 2024 pursuant to the Japanese Financial Instrument andExchange Law. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki Hokokusho shall prevail.

8. Other income and other expenses
The breakdown of other income and other expenses in the First quarter of previous fiscal year and current fiscal year are as
follows:(Millions of yen)
The First quarter of previous fiscal year
(Three months ended
March 31, 2023)

The First quarter of current fiscal year
(Three months ended
March 31, 2024)

1,128

5,483

55

44

Other income
Gains on sales of property, plant, and equipment(Note 1)
Rent income
Other

126

171

Total

1,309

5,698

Impairment loss
Losses on sales and disposals of property, plant,
and equipment
Transformation related expenses (Note 2)

7

245

340

275

787

367

Special retirement allowance (Note 3)

52

19

Other

29

31

1,214

937

Other expenses

Total
Notes

1.

Gains on sales of property, plant, and equipment represent gains on sales of land and other assets for the First quarter of previous fiscal
year and current fiscal year.

2.

Transformation related expenses are consulting expenses related to measures aimed at building an efficient new systemwith the aim of creating more value and further improving productivity for the sustainable growth of the Group for the First quarter ofprevious fiscal year and current fiscal year.

3.

Special retirement allowances are allowances and outplacement support expenses incurred in the implementation of thevoluntary retirement program for the First quarter of previous fiscal year and current fiscal year.

－20－This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) ended March 31, 2024 pursuant to the Japanese Financial Instrument andExchange Law. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki Hokokusho shall prevail.

9. Fair value of financial instruments(a) Classification by level of the fair value hierarchy
Financial instruments measured at fair value on a recurring basis after initial recognition are classified into three levelsof the fair value hierarchy, depending on the observability and significance of the inputs used in the measurement.
The fair value hierarchy is defined as follows:
Level 1: Fair value (unadjusted) in the active market of the same asset or liability
Level 2: Fair value based on inputs other than quoted prices included in Level 1, either directly observable inputs orindirectly, of observable inputs for asset or liability
Level 3: Fair value based on unobservable inputs for asset or liability
When more than one input is used to measure the fair value, the level of the fair value hierarchy is determined basedon the lowest level of input that is significant to the fair value measurement as a whole. Transfers between levels of thefair value hierarchy are recognized as having occurred at the beginning of each quarter.
There was no transfer between Level 1, Level 2, and Level 3 during the previous fiscal year and the First quarter ofcurrent fiscal year.
(b) Fair value measurement
Securities are classified as Level 1 of the fair value hierarchy by the measurement of share prices, if any, in an active
market for the same asset or liability. If there is no active market share price for the same asset or liability, the Group uses
valuation techniques such as share prices in non-active markets, and quoted market prices of similar companies. If
significant inputs, such as quoted market prices and discount rates used in measurement are observable, such financial
instruments are classified as Level 2, but are classified as Level 3 if inputs used in its measurement include significant
unobservable inputs.
Unlisted securities are classified into Level 3 of the fair value hierarchy using valuation techniques based on quoted
market prices of similar companies, valuation techniques based on net asset value, and other valuation techniques. In thefair value measurement of unlisted securities, the Group uses unobservable inputs such as valuation multiples andconsiders certain illiquidity discounts and non-controlling interest discounts as needed. The measurement methods forsuch fair value are determined by the Finance division in accordance with the Group’s accounting policies.
The valuation techniques and significant unobservable inputs used in Level 3 fair value measurement are as follows:
As of December 31, 2023
Type
Financial instrument measured atfair value through othercomprehensive income(Securities)

Valuation technique

Comparison ofsimilar companies

Significant unobservable inputs

Interactions between significant unobservable
inputs and fair value measurement

EBIT Multiple: 26.8 times

Estimated fair value increases (decreases)

PER: 5.8- 6.5 times

when equity indices of comparable listed

PBR: 1.1-2.4 times

companies of the target are high (low)Significant unobservable inputs

Interactions between significant unobservable
inputs and fair value measurement

EBIT Multiple: 25.8 times

Estimated fair value increases (decreases)

PER: 6.8- 7.6 times

when equity indices of comparable listed

PBR: 1.2-2.5 times

companies of the target are high (low)As of March 31,2024
Type
Financial instrument measured atfair value through othercomprehensive income(Securities)

Valuation technique

Comparison ofsimilar companies

EBIT Multiple: Corporate Value/EBIT
PER: Price Earnings Ratio
PBR: Price Book Value Ratio－21－

This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) ended March 31, 2024 pursuant to the Japanese Financial Instrument andExchange Law. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki Hokokusho shall prevail.

(c) Financial instrument measured fair value on a recurring basis
The breakdown of financial instrument measured at fair value on a recurring basis is as follows:
As of December 31, 2023
(Millions of yen)
Level 1

Level 2

Level 3

Total

Financial assets
Financial instrument measured at fair value
through profit or loss:
Derivative assets

－

80

－

80

－

80

－

80

4,542
－

－
－

2,921
92

7,463
92

Subtotal

4,542

－

3,013

7,555

Total

4,542

80

3,013

7,635

－

1,127

－

1,127

－

1,127

－

1,127

Subtotal
Financial instrument measured at fair value
through other comprehensive income:Securities
Other

Financial liabilities
Financial instrument measured at fair value
through profit or loss:
Derivative liabilities
Total
As of March 31,2024(Millions of yen)
Level 1

Level 2

Level 3

Total

Financial assets
Financial instrument measured at fair value
through profit or loss:
－

579

－

579

－

579

－

579

4,976
－

－
－

2,976
92

7,952
92

Subtotal

4,976

－

3,068

8,044

Total

4,976

579

3,068

8,623

－

956

－

956

－

956

－

956

Derivative assets
Subtotal
Financial instrument measured at fair value
through other comprehensive income:Securities
Other

Financial liabilities
Financial instrument measured at fair value
through profit or loss:
Derivative liabilities
Total

－22－

This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) ended March 31, 2024 pursuant to the Japanese Financial Instrument andExchange Law. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki Hokokusho shall prevail.

A reconciliation of the beginning and ending balances of financial instrument classified as Level 3 is as follows:(Millions of yen)
Financial assets measured at fair value through othercomprehensive income
Balance as of January 1, 2023

3,135

Disposals
Gains (Losses) recognized in other comprehensive income(8)25

Balance as of March 31, 2023

3,152

Balance as of January 1, 2024
Disposals

3,013
(28)

Gains (Losses) recognized in other comprehensive income

83

Balance as of March 31,2024

3,068

Gains or losses recognized in other comprehensive income are recognized in “Net changes in financial asset
measured at fair value through other comprehensive income” in the consolidated statements of comprehensive income.
(d) Financial instrument measured at amortized cost
The components of carrying amount and fair value of financial instruments measured at amortized cost are as follows:
As of December 31, 2023
(Millions of yen)
Carrying amountLong-term loans payable and bonds

155,781

Fair value

Difference

154,547

1,234

As of March 31,2024(Millions of yen)
Carrying amountLong-term loans payable and bonds

155,301

Fair value
153,518

Difference
1,783

Long-term loans payable and bonds include the current portion. Cash and cash equivalents, trade and other receivables,
trade and other payables are not included in the above table as their fair value approximates their carrying amount due tothe short collection and settlement period.
The main valuation techniques used to measure fair value of the financial instrument in the table above are as follows:a. Loans payable
Loans payable with variable interest rates are calculated using the carrying amount as its fair value because interest
rates are considered to reflect market interest rates in the short term. Loans payable with fixed interest rates are calculated
based on the present value of future cash flows discounted using interest rates adjusted for the remaining term and credit
risk. Loans payable with fixed interest rates are classified into Level 2 of the fair value hierarchy.
b. Bonds
For bonds with quoted market prices, the fair value is estimated based on quoted market prices. For bonds without
quoted market prices, the fair value is calculated based on the present value of future cash flows discounted using interest
rates adjusted for the remaining term and credit risk. Bonds with quoted market prices are classified into Level 1 of thefair value hierarchy and bonds without quoted market prices are classified into Level 2.

－23－This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) ended March 31, 2024 pursuant to the Japanese Financial Instrument andExchange Law. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki Hokokusho shall prevail.

10. Earnings per share
The calculation of basic loss per share attributable to owners of the parent is based on the quarterly net loss attributable toowners of the parent and the weighted average number of common shares issued.
The basis for calculating the basic loss per share and diluted earnings per share for the First quarter of previous fiscal year
and current fiscal year are as follows:
The First quarter ofprevious fiscal year
(Three months ended
March 31, 2023)

Loss attributable to owners of parent (millions of yen)
Weighted-average number of common shares issued (inthousands)
Basic loss per share (yen)Notes

The First quarter ofcurrent fiscal year
(Three months ended
March 31, 2024)(6,459)(2,897)

179,340

179,515(36.02)(16.14)

1.

“Diluted earnings per share” is not shown in the First quarter of the previous fiscal year and current fiscal year, as 1,033 thousand
shares and 1,222 thousand shares of share-based compensation have an antidilutive effect.

2.

We have introduced Executive reward BIP Trust and Stock-granting ESOP Trust in the Second quarter of previous fiscal year. The Company
shares held by these trusts are included in the treasury shares to be deducted from the weighted-average number of common shares during theperiod for calculating the amount of basic loss per share. The weighted-average number of common shares deducted was 26,753 thousand
shares for the First quarter of current fiscal year.

11. Subsequent events
Not applicable.

2. Others
Not applicable.

－24－

This is an English translation of the original Quarterly Report (“Shihanki Hokokusho”) ended March 31, 2024 pursuant to the Japanese Financial Instrument andExchange Law. In the event of any discrepancy between Shihanki Hokokusho and this English translation, Shihanki Hokokusho shall prevail.

Part II Information of guarantor companies of the filing company
Not applicable.

－25－