FUJI KYUKO CO．，LTD．

Note:This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy
between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results
for the Nine Months Ended December 31, 2022
[Japanese GAAP]
February 08, 2023
Company name: FUJI KYUKO CO., LTD.
Stock exchange listing: Tokyo
Code number: 9010
URL: https://www.fujikyu.co.jp
Representative: Koichiro Horiuchi

Representative Director and President
Director, Executive Officer, in charge of Management &Administration Department

Contact: Masao Amemiya

Phone: 0555-22-7120
Scheduled date of filing quarterly securities report: February 13, 2023
Scheduled date of commencing dividend payments: Availability of supplementary briefing material on quarterly financial results: No
Schedule of quarterly financial results briefing session: No(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Nine Months Ended December 31, 2022 (April 01, 2022 to December 31, 2022)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable toOperating revenues
Operating profit
Ordinary profit
owners of parent
Million yen%
Million yen%
Million yen%
Million yen%
Nine months ended
December 31, 2022
31,875
18.9
3,213
198.5
3,055
256.2
1,772
236.7
December 31, 2021
26,812
1,076
858
526
(Note) Comprehensive income:Nine months ended December 31, 2022:¥1,985 million [275.1%]
Nine months ended December 31, 2021:¥529 million [-%]
Basic earnings
per share
Nine months ended
December 31, 2022
December 31, 2021

Diluted earnings pershareYen

Yen

33.39
9.92

-

(2) Consolidated Financial Position
Total assets
As ofDecember 31, 2022
99,752
March 31, 2022
98,336(Reference) Equity: As of December 31, 2022:
As of March 31, 2022:

Net assets

Million yen

Capital adequacy ratio

Million yen¥¥

26,037
24,58225,155 million
23,731 million

%

25.2
24.1

FUJI KYUKO CO．，LTD．

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2022---10.00

10.00

Fiscal year ending March 31, 2023

--

12.00

12.00

Year-end

Fiscal year ending March 31, 2023
(Forecast)(Note) Revision to the forecast for dividends announced most recently:
No(Note) Breakdown of the 3rd quarter dividend for the fiscal year ending March 31, 2023 :Commemorative dividend- yenSpecial dividend
- yen

Total

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023(April 01, 2022 to March 31, 2023)(% indicates changes from the previous corresponding period.)
Profit attributable to Basic earnings perOperating revenues Operating profit
Ordinary profit
owners of parent
shareMillion yen% Million yen% Million yen% Million yen

Full year
41,64018.7
3,520362.2
3,120537.3(Note) Revision to the financial results forecast announced most recently:
No1,450%

Yen

285.2

27.31

* Notes:(1) Changes in significant subsidiaries during the nine months ended December 31, 2022
(changes in specified subsidiaries resulting in changes in scope of consolidation):
NoNew(Company name:
Exclusion:(Company name:(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: Yes
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):December 31, 2022:
54,884,738 shares
March 31, 2022:
54,884,738 shares2) Total number of treasury shares at the end of the period:
December 31, 2022:
1,784,405 shares
March 31, 2022:
1,785,505 shares
3) Average number of shares during the period:
Nine months ended December 31, 2022:
Nine months ended December 31, 2021:

53,100,173 shares
53,099,700 shares))No)8-, .<8.2 &2㸬㸪/7'㸬

Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets(Thousand yen)
As of March 31,2022

As of December 31,2022

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract
assetsLand and buildings for sale in lots
Merchandise and finished goods

17,118,113

18,261,251

2,674,903

3,498,679

8,406,132
626,958

8,456,596
661,218

Work in process

19,585111,903

Raw materials and supplies
Costs on construction contracts in progress

752,108
204,489

831,406
312,829

1,365,299

1,458,842

Other
Allowance for doubtful accounts(15,003)(9,982)

31,152,588

33,582,744

Buildings and structures, net
Machinery, equipment and vehicles, net

27,028,121
5,160,722

26,700,106
4,833,562

Land

15,603,865

15,612,406Total current assets
Non-current assets
Property, plant and equipment

Leased assets, net

2,402,554

1,706,532

Construction in progress
Other, net

3,075,206
1,767,081

3,897,924
1,709,734

Total property, plant and equipment

55,037,551

54,460,267

2,676,684

2,680,981

Intangible assets
Investments and other assets
Investment securities

6,003,800

6,137,956

Deferred tax assets
Other2,584,694
872,789

2,066,116
819,948

Allowance for doubtful accounts(24,660)(24,660)

Total investments and other assets
Total non-current assets
Deferred assets

9,436,624
67,150,860

8,999,361
66,140,610

Bond issuance costs

32,811

29,115

Total deferred assets
Total assets

32,811
98,336,260

29,11599,752,469

)8-, .<8.2 &2㸬
㸪/7'㸬(Thousand yen)
As of March 31,2022

As of December 31,2022

Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Lease liabilities
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Other
Total current liabilities
Non-current liabilities
Bonds payableLong-term borrowings
Lease liabilities
Deferred tax liabilities
Retirement benefit liability
Provision for share awards for directors (and otherofficers)
Other

1,698,770
9,115,348
989,802248,377
345,462

2,261,020
12,096,479
778,906
381,143
136,972

6,500-

3,657,540
16,061,802

4,730,816
20,385,340

5,000,000
44,992,446
1,751,265
26,6535,000,000
41,633,066
1,180,249
26,952

927,396808,265

20,906

18,477

4,972,848

4,662,707

57,691,516
73,753,318

53,329,718
73,715,058

Share capital
Capital surplus

9,126,343
3,688,469

9,126,343
3,691,371

Retained earnings

12,025,846

13,268,158

Treasury shares
Total shareholders' equity(1,548,415)
23,292,243(1,543,104)
24,542,768

Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Remeasurements of defined benefit plans

749,533

838,425(310,697)(225,525)

Total accumulated other comprehensive income
Non-controlling interests

438,836
851,861

612,899
881,74324,582,941

26,037,411

98,336,260

99,752,469

Total net assets
Total liabilities and net assets)8-, .<8.2 &2㸬㸪/7'㸬

Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the nine months)(Thousand yen)
For the nine months
ended December 31,2021
Operating revenue

For the nine months
ended December 31,2022

26,812,425

31,875,566

24,795,864
939,780

27,733,719
927,918

25,735,644
1,076,780

28,661,638
3,213,928

75,71489,25624,001

15,018110,353

133,773

Operating expenses
Operating expenses and cost of sales of transportation
Selling, general and administrative expenses
Total operating expenses
Operating profit
Non-operating income
Interest and dividend income
Share of profit of entities accounted for using equity
methodMiscellaneous income
Total non-operating income
Non-operating expenses
Interest expenses

210,068

238,048

349,665

340,292

Miscellaneous expenses

79,12955,688

Total non-operating expenses
Ordinary profit

428,795
858,054395,980
3,055,995

Extraordinary income
Gain on sale of non-current assets

25,3708,703Subsidies
Subsidies for employment adjustment

132,146
653,633

78,747
23,974

Total extraordinary income

811,150

111,425-

3,074

17,783-Extraordinary losses
Loss on valuation of investment securities
Loss on sale of non-current assets
Loss on tax purpose reduction entry of non-current
assetsLoss on retirement of non-current assets

60,8209,447

185,470

334,537

Allowance for absence from work
Other
Total extraordinary losses

481,777
745,851

17,59825,006389,664

Profit before income taxes

923,353

2,777,756

Income taxes - current
Income taxes - deferred

350,295
46,912530,092
437,510

Total income taxes

397,208

967,602

ProfitProfit (loss) attributable to non-controlling interests

526,145(421)

1,810,153
37,369Profit attributable to owners of parent

526,566

1,772,784

)8-, .<8.2 &2㸬㸪/7'㸬

Quarterly Consolidated Statements of Comprehensive Income (For the nine months)(Thousand yen)
For the nine months
ended December 31,2021
ProfitOther comprehensive income

526,145

For the nine months
ended December 31,2022
1,810,153

Valuation difference on available-for-sale securities(31,572)

97,679Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to non-controllinginterests

49,13685,171(14,345)(7,607)3,218
529,363

175,244
1,985,398

530,379

1,946,847(1,016)38,550