Non-Consolidated Financial Results
for the Three Months Ended June 30, 2024
[Japanese GAAP]
August 9, 2024
Company name: NAFCO Corporation
Stock exchange listing: Tokyo Stock Exchange
Code number: 2790
URL: https://www.nafco.tv
Representative: Takumi Ishida, President and CEO
Contact: Hiroaki Shiraishi, General Manager, Accounting Division
Phone: +81-93-521-7030
Scheduled date of commencing dividend payments: Availability of supplementary briefing material on financial results: Available
Schedule of financial results briefing session: Scheduled (for institutional investors and securities analysts)(Amounts below one million yen are truncated.)
1. Financial and Operating Results for the Three Months Ended June 30, 2024 (April 1, 2024 to June 30, 2024)(1) Operating Results (cumulative)(Percentages refer to changes from the corresponding period of the preceding fiscal year.)
Total operating
Operating profit
Ordinary profit
ProfitrevenueThree months ended Millions of yen% Millions of yen% Millions of yen% Millions of yen%
June 30, 2024
48,691 (6.3)
1,511(43.6)
1,527(43.2)
963(40.5)
June 30, 2023
51,9472,678
2,688
1,619Earnings pershare

Diluted earnings
per share

Three months endedYenYen
June 30, 2024
35.99
June 30, 2023
56.70
(Note) As the Company made changes in presentation in the three months ended June 30, 2024, the figures for thethree months ended June 30, 2023 are presented after applying the changes in the presentation. Due to thechanges in presentation, percentages of changes from the corresponding period of the preceding fiscal year are
not presented for the three months ended June 30, 2023. In addition, in conjunction with the changes inpresentation, net sales of the financial and operating results has been changed to total operating revenue,
starting in the three months ended June 30, 2024. Total operating revenue is the sum of net sales and operating
revenue. This change has also been applied to the three months ended June 30, 2023.
(2) Financial Position

Total assets
Millions of yen

Net assets
Millions of yen

As of June 30, 2024
238,163
As of March 31, 2024
232,246(Reference) Equity: As of June 30, 2024: ¥159,558 million
As of March 31, 2024: ¥159,361 million

159,558
159,361

Equity ratio

Net assets per share%67.0
68.6

Yen

5,958.92
5,951.52

2. Dividends

Annual dividends
1st2nd3rdYear-endquarter-end quarter-end quarter-end
Yen

Yen

YenTotal

Yen

Fiscal year ended
29.00
29.00
March 31, 2024
Fiscal year ending
March 31, 2025
Fiscal year ending
March 31, 2025
29.00
29.00
(Forecast)(Note) Revision from the most recently announced dividend forecast: None

Yen

58.00

58.00

3. Projected Operating Results for the Fiscal Year Ending March 31, 2025 (April 1, 2024 to March 31, 2025)(% indicates changes from the previous corresponding period.)
Net sales
Millions of yen

Operating profit% Millions of yen

Ordinary profit%

Millions of yen

Earnings
per shareProfit% Millions of yen%

YenFirst half
97,619 (3.4)
2,402 (42.6)
2,427 (42.3)
1,517 (39.0)
56.65(Cumulative)
Full year
190,784 (0.7)
4,576 (16.5)
4,629 (16.6)
2,871(7.6)
107.22(Note) Revision from the most recently announced projected operating results: Yes
For details, please refer to the Company’s “Notice Regarding Revision to Projected Operating Results” announced
today, August 9, 2024.
* Notes:(1) Accounting policies adopted specifically for the preparation of quarterly financial statements: Yes(Note) For details please refer to “2. Quarterly Financial Statements and Primary Notes (3) Notes on Quarterly
Financial Statements (Accounting policies adopted specifically for the preparation of quarterly financialstatements)” on page 6 of the attached document.
(2) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: No
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(3) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the term (including treasury shares):
June 30, 2024: 29,784,400 shares
March 31, 2024: 29,784,400 shares2) Total number of treasury shares at the end of the term:
June 30, 2024: 3,008,023 shares
March 31, 2024: 3,007,890 shares
3) Average number of shares during the term:
Three months ended June 30, 2024: 26,776,422 shares
Three months ended June 30, 2023: 28,562,563 shares* Review of the Japanese-language originals of the attached quarterly non-consolidated financial statements bycertified public accountants or an audit firm: None* Explanation of the proper use of financial results forecast and other notes(Cautionary note on forward-looking statement)
The earnings forecasts and other forward-looking statements provided herein are based on information that iscurrently available to the Company and certain assumptions that the Company deems reasonable, and the Company
does not in any way guarantee the achievement of the projections. Actual results may differ significantly from theforecasts due to various factors. For details on the assumptions of the earnings forecasts and points to be noted inusing the earnings forecasts, please refer to “1. Qualitative Information on Quarterly Financial Results (3)Explanation of Forecast of Performance Results and Other Forward-Looking Information” on page 2 of theattached document.

2. Financial Statements and Primary Notes(1) Balance Sheets(Millions of yen)

End of Previous Fiscal year
(March 31, 2024)
AssetsCurrent assets
Cash and deposits
Accounts receivable - trade
Merchandise
OtherAllowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
LandConstruction in progress
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Current portion of long-term borrowings
Income taxes payable
Accounts payable - otherNotes payable - facilities
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Asset retirement obligations
Contract liabilities
Other
Total current liabilities
Non-current liabilities
Provision for retirement benefits
Provision for retirement benefits for directors (andother officers)
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities

1

End of First Quarter ofCurrent Fiscal Year
(June 30, 2024)

32,997
4,513
60,562
1,504(3)99,57435,103
4,412
61,283
1,585(3)102,38064,02549,171
1,013
5,000
119,210
3,210
10,251
132,672
232,246

66,862
49,171
703
5,431
122,168
3,304
10,309135,783
238,163

24,447
18,820
8
362
4,322
2,462
955

26,53318,905
–
593
7,075
3,500
542

31

–

3
3,069
3,962
58,445

11
3,014
3,555
63,731

3,014

3,001

744

744

6,538
4,141
14,43972,885

6,636
4,492
14,87478,605

(Millions of yen)

End of Previous Fiscal year
(March 31, 2024)
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Valuation and translation adjustments
Valuation difference on available-for-sale securities
Total valuation and translation adjustments
Total net assets
Total liabilities and net assets

2

End of First Quarter ofCurrent Fiscal Year
(June 30, 2024)

3,538
4,223
157,788(6,351)
159,198

3,538
4,223
157,975(6,351)
159,385

162
162
159,361
232,246

172
172
159,558
238,163(2) Statements of Income
Statements of Income

Net sales
Cost of sales
Gross profit
Operating revenue
Operating gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Commission income
Insurance claim income
OtherTotal non-operating income
Non-operating expenses
Interest expenses
Loss on disaster
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Impairment losses
Total extraordinary losses
Profit before income taxes
Income taxes
Profit3(Millions of yen)Three Months Ended
June 30, 2023
(From April 1, 2023
to June 30, 2023)
51,732
34,29817,434
214
17,648
14,9692,678

Three Months Ended
June 30, 2024
(From April 1, 2024
to June 30, 2024)
48,51931,997
16,521
171
16,693
15,182
1,511

0
925
14
3181

0
11
1917
32
81

30
36
5
72
2,688

42
184
65
1,527

––

36
36

36
81
117
2,570
951
1,619

28
5
34
1,529
565
963