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August 7, 2024

Consolidated Financial Results
for the Three Months Ended June 30, 2024
(Under Japanese GAAP)
Company name:TOKYO PRINTING INK MFG. CO., LTD.
Listing:
Tokyo Stock Exchange
Securities code:
4635
URL:
https://www.tokyoink.co.jp
Representative:
Satoshi Horikawa, Representative Director and President
Inquiries:
Shinji Nakamura, Director, Managing Executive Officer, General Manager of Administration Division, Chief Investor Relations OfficerTelephone:+81-3-5902-7652
Scheduled date to commence dividend payments:
Preparation of supplementary material on financial results:
None
Holding of financial results briefing:
None(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the three months ended June 30, 2024 (from April 1, 2024 to June 30, 2024 )(Percentages indicate year-on-year changes.)(1) Consolidated operating results (cumulative)
Net sales
Three months ended
June 30, 2024
June 30, 2023

Operating profit

Profit attributable to owners ofparent

Ordinary profit

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

10,993

2.8

152

(8.6)

222

(45.4)

164(45.6)

10,695

5.7

166-

407

770.8

301

647.1

Note: Comprehensive income For the three months ended June 30, 2024: ¥ 582 million
For the three months ended June 30, 2023: ¥ 649 million
Basic earnings per share
Three months ended
June 30, 2024
June 30, 2023

[ (10.4) % ][-%]Diluted earnings per share
Yen

Yen

61.81-115.17-(2) Consolidated financial position
Total assets
As ofJune 30, 2024
March 31, 2024

Net assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen%

Yen

52,17329,821

56.8

11,142.28

52,46629,39855.7

10,982.28

Reference: Equity
As of June 30, 2024 : ¥ 29,630 million
As of March 31, 2024: ¥ 29,207 million

2. Cash dividends
First quarter-end
Fiscal year ended
March 31, 2024
Fiscal year ending
March 31, 2025Fiscal year ending
March 31, 2025(Forecast)

Annual dividends per share
Third quarter-end

Second quarter-end

Fiscal year-end

TotalYenYenYenYenYen-

40.00

-

60.00

100.0060.00

120.0060.00

Note: Revisions to the forecast of cash dividends most recently announced: None
Note: Breakdown of annual dividends for the fiscal year ending March 31, 2024 Ordinary dividend 80.00 yen per share 100th anniversary commemorative dividend (year-end)
20.00 yen per share

3. Forecast of consolidated financial results for the fiscal year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)(Percentages indicate year-on-year changes.)
Net sales
Six months ending
September 30, 2024
Fiscal year ending
March 31, 2025

Operating profit

Basic earnings per share

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

22,000

3.4

350

37.9

280

(43.9)

200(47.8)

76.19

46,000

4.7

1,200

56.1

1,050

6.4

750

(14.9)

285.73

Note: Revisions to the earnings forecasts most recently announced: None

* Notes

Profit attributable toowners of parent

Ordinary profit

* Notes(1) Significant changes in the scope of consolidation during the period: None
(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: None
(3) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: Yes(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
Note: For details, please refer to "2. Quarterly Consolidated Financial Statements and Major Notes (3) Notes to Quarterly Consolidated Financial Statements (Notes toChanges in Accounting Policies)" on page 10 of the attached document.

(4) Number of issued shares (common shares)(i) Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2024
As of March 31, 2024

2,725,758 shares
2,725,758 shares(ii) Number of treasury shares at the end of the period
As of June 30, 2024
As of March 31, 2024

66,451 shares
66,266 shares(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2024
Three months ended June 30, 2023

2,659,391 shares
2,622,087 shares* Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm:
nil* Proper use of earnings forecasts, and other special matters
The forward-looking statements in this document are based on information currently available to the Company and certain assumptions that the Company considers
reasonable, and are not intended to be a promise by the Company that they will be achieved. Actual results may differ significantly from the forecast figures due to variousfactors. Please refer to “(3) Explanation on consolidated earnings forecasts and other forward-looking statements” of “1. Qualitative Information on Quarterly FinancialResults” on page 5 of the attached materials for the conditions that form the assumptions for the earnings forecasts and cautions concerning the use thereof.

Quarterly consolidated balance sheet(Millions of yen)
As of March 31, 2024

As of June 30, 2024

AssetsCurrent assets
Cash and deposits

3,736

Notes receivable - trade

1,044

900

Electronically recorded monetary claims - operating

5,885

5,793

Accounts receivable - trade

10,2109,719

Merchandise and finished goods

5,151

5,081

Work in process

2,038

2,066

Raw materials and supplies

2,673

2,708

Other382

431

Allowance for doubtful accounts

3,451

(11)

(7)

31,11130,144

Buildings and structures, net

5,515

5,499

Machinery, equipment and vehicles, net

2,965

2,982

Total current assets
Non-current assets
Property, plant and equipment

Tools, furniture and fixtures, net

401

391

Land

2,761

2,761

Leased assets, net

118

125

Construction in progress

436

545

12,19812,305

Other

745

710

Total intangible assets

745

710

Investment securities

4,986

5,483

Deferred tax assets

2331

Retirement benefit asset

1,829

1,911

Other

1,622

1,635

Allowance for doubtful accounts

(51)

(49)

Total property, plant and equipment
Intangible assets

Investments and other assets

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

8,410

9,013

21,35422,02852,46652,173

(Millions of yen)As of March 31, 2024

As of June 30, 2024

Liabilities
Current liabilities
Notes and accounts payable - trade

11,128

10,944

Short-term borrowings

3,430

3,200

Current portion of long-term borrowings

1,065

1,065

Lease liabilities

61

62

Income taxes payable

167

38

Provision for bonuses

434

142

Accrued consumption taxes

170

167

Accrued expenses

979

1,225

Other

668

820

18,105

17,665

2,881

2,615

Total current liabilities
Non-current liabilities
Long-term borrowings
Lease liabilities

9498

1,517

1,705

Retirement benefit liability98101

Other

370

164

Deferred tax liabilities

Total non-current liabilities

4,962

4,686

23,06722,352

Share capital

3,246

3,246

Capital surplus

2,537

2,537

Retained earnings

21,09021,095

Treasury shares

(168)

(168)

Total shareholders' equity

26,70526,710

Valuation difference on available-for-sale securities

1,219

1,564

Foreign currency translation adjustment

623

735

Remeasurements of defined benefit plans

658

620

Total accumulated other comprehensive income

2,501

2,920

191

190

Total net assets

29,39829,821

Total liabilities and net assets

52,46652,173

Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income

Non-controlling interests

Quarterly consolidated statement of income(Millions of yen)Three months ended
June 30, 2023

Three months ended
June 30, 2024

Net sales

10,695

10,993

Cost of sales

9,134

9,379

Gross profit

1,561

1,613

Salaries and allowances

352

367

Bonuses71

93

Welfare expenses

85

98

Depreciation

6382

Provision for bonuses

3541

Retirement benefit expenses

12(7)Communication and transportation expenses

4546

Packing and delivery expenses

298

298

Selling, general and administrative expenses

Other

431

441

Total selling, general and administrative expenses

1,394

1,461

Operating profit

166

152

Non-operating income
Interest income

10

Dividend income

6870

Gain on investments

50-

Foreign exchange gains

110

29

Other

2332

Total non-operating income

255

132

Non-operating expenses
Interest expenses

78

Loss on investments in capital

-50

Other

63

Total non-operating expenses

1462

Ordinary profit

407

222

Gain on sale of non-current assets-1

Gain on sale of investment securities42-

Total extraordinary income

421

Loss on sale and retirement of non-current assets

513

Total extraordinary losses

513

Profit before income taxes

445

210

Income taxes - current

1915

Income taxes - deferred

118

31

Total income taxes

138

46

Profit

306

163

4(0)

301

164

Extraordinary income

Extraordinary losses

Profit (loss) attributable to non-controlling interests
Profit attributable to owners of parent

Quarterly consolidated statement of comprehensive income(Millions of yen)Three months ended
June 30, 2023
ProfitThree months ended
June 30, 2024
306

163Valuation difference on available-for-sale securities

325

344

Deferred gains or losses on hedges(0)-Foreign currency translation adjustment

21111

Remeasurements of defined benefit plans, net of tax

(4)

(37)

-0

Total other comprehensive income

342

418

Comprehensive income

649

582

644

583

5(0)

Other comprehensive income

Share of other comprehensive income of entities accounted for using equity
methodComprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests