Note: This document has been translated from the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.

January 12, 2024

Consolidated Financial Results
for the Fiscal Year Ended November 30, 2023
(Under Japanese GAAP)
Company name:
SALA Corporation
Listing:
Tokyo Stock Exchange / Nagoya Stock Exchange
Securities code:
2734
URL:
https://www.sala.jp/
Representative:
Goro Kamino, President and Representative Director, Group Representative and CEO
Inquiries:
Shinichi Ichikawa, Manager of General Affairs Group, General Affairs Department
Telephone:+81-532-51-1182
Scheduled date of annual general meeting of shareholders:February 16, 2024
Scheduled date to commence dividend payments:
January 31, 2024
Scheduled date to file annual securities report:
February 19, 2024
Preparation of supplementary material on financial results:
None
Holding of financial results briefing:
Yes (for institutional investors andanalysts)(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the fiscal year ended November 30, 2023 (from December 1,
2022 to November 30, 2023)(1) Consolidated operating results(Percentages indicate year-on-year changes.)

Net sales
Fiscal year ended
November 30, 2023
November 30, 2022

Millions of yen

Note: Comprehensive income% Millions of yen

Reference:

Profit attributable toowners of parent

Ordinary profit% Millions of yen% Millions of yen%

242,059

3.1

6,083

(11.7)

7,870

(8.5)

6,099

7.3

234,848

3.0

6,891

4.5

8,601

3.5

5,682

8.0

For the fiscal year ended November 30, 2023: ¥7,052 million [(6.5)%]
For the fiscal year ended November 30, 2022: ¥7,545 million [29.1%]

Basic earnings
per share
Fiscal year ended
November 30, 2023
November 30, 2022

Operating profit

Diluted earnings
per share

Yen
95.46
89.12

Return on equity

Yen

–
–

Ratio of ordinary
Ratio of operating
profit to total
profit to net sales
assets

%

%

%

8.2

4.2

2.5

8.3

4.6

2.9

Share of profit (loss) of entities accounted for using equity method
For the fiscal year ended November 30, 2023: ¥384 million
For the fiscal year ended November 30, 2022: ¥330 million(2) Consolidated financial position
Total assets
As ofNovember 30, 2023
November 30, 2022
Reference:

Net assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen%

Yen

189,267

78,64540.8

1,206.92

188,41773,35538.2

1,128.69

EquityAs of November 30, 2023:
As of November 30, 2022:¥77,179 million¥72,012 million

(3) Consolidated cash flows
Cash flows fromoperating activities
Fiscal year ended
November 30, 2023
November 30, 2022

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at end of
periodMillions of yen

Millions of yen

Millions of yen

Millions of yen

5,762
9,930

(5,621)(3,861)(1,366)(6,524)22,547
23,772

2. Cash dividends
Annual dividends per shareFirst
quarterend

Secondquarterend

Third
quarterend

Fiscalyear-end

Total

Yen

Yen

Yen

Yen

Fiscal year ended
November 30, 2022

–

11.00

–

15.00

26.00

Fiscal year ended
November 30, 2023

–

13.00

–

13.00

26.00

Fiscal year ending
November 30, 2024
(Forecast)

–

13.00

–

14.00

27.00

Ratio of
Payout ratio dividends to(Consolidated) net assets(Consolidated)

Total cash
dividends(Total)Yen Millions of yen

%

%

1,716

29.2

2.4

1,716

27.2

2.2

30.8

3. Consolidated earnings forecasts for the fiscal year ending November 30, 2024 (from December 1,
2023 to November 30, 2024)
Net sales(Percentages indicate year-on-year changes.)
Basic
Profit attributable
Ordinary profit
earnings per
to owners of parent
share

Operating profit

Millions ofyen%Millions ofyen%Millions ofyen%Millions of
yen

%

Yen

Six months ending
May 31, 2024

127,000

0.8

5,600

11.5

5,900

3.9

4,100

(13.7)

64.12

Fiscal year ending
November 30, 2024

255,000

5.3

7,300

20.0

8,200

4.2

5,600

(8.2)

87.57

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in thechange in scope of consolidation): None
(2) 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 “(5) Notes to consolidated financial statements (Changes in accounting policies)” of“3. Consolidated financial statements and significant notes thereto” on page 16 of the attachment.

(3) Number of issued shares (common shares)(i) Total number of issued shares at the end of the period (including treasury shares)
As of November 30, 2023

66,041,147 shares

As of November 30, 2022

66,041,147 shares(ii) Number of treasury shares at the end of the period
As of November 30, 2023

2,093,710 shares

As of November 30, 2022

2,239,289 shares(iii) Average number of shares outstanding during the period
Fiscal year ended November 30, 2023

63,896,011 sharesFiscal year ended November 30, 2022

63,757,177 shares[Reference] Overview of non-consolidated financial results
1. Non-consolidated financial results for the fiscal year ended November 30, 2023 (from December
1, 2022 to November 30, 2023)(1) Non-consolidated operating results
Operating revenue
Fiscal year ended
November 30, 2023
November 30, 2022

Millions of yen

Operating profit

Ordinary profit% Millions of yen

3,964
3,419

15.9
16.1

Basic earnings
per share
Fiscal year ended
November 30, 2023
November 30, 2022

(Percentages indicate year-on-year changes.)% Millions of yen

2,357
1,781

32.3
26.5

2,397
1,834

Profit% Millions of yen

30.7
8.7

2,413
1,905

%

26.7
13.3

Diluted earnings
per share
Yen

Yen

37.78
29.88

–
–

(2) Non-consolidated financial position
Total assets
As ofNovember 30, 2023
November 30, 2022
Reference:

Net assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen%

Yen

101,144
97,176

46,20645,54445.7
46.9

722.57713.84EquityAs of November 30, 2023:
As of November 30, 2022:¥46,206 million¥45,544 million

* Financial results reports are exempt from audit conducted by certified public accountants or an audit
corporation.
* Proper use of earnings forecasts, and other special matters(Caution concerning forward-looking statements)
The forward-looking statements, including earnings forecasts, contained in these materials are based on
information currently available to the Company and on certain assumptions deemed to be reasonable by
the Company. Consequently, any statements herein do not constitute assurances regarding actual resultsby the Company. Actual business and other results may differ significantly due to various unforeseen
factors. Please refer to the section of “(4) Future outlook” of “1. Overview of operating results, etc.” onpage 5 of the attached material for the suppositions that form the assumptions for earnings forecasts andcautions concerning the use thereof.

SALA Corporation (2734)○Attachment Index
Index
1. Overview of operating results, etc. ........................................................................................................... 2(1) Overview of operating results for the fiscal year ............................................................................... 2(2) Overview of financial position for the fiscal year .............................................................................. 4(3) Overview of cash flow position for the fiscal year ............................................................................. 4(4) Future outlook .................................................................................................................................... 5(5) Basic policy on profit sharing and dividends for the current and next fiscal years ............................ 7
2. Basic policy regarding selection of accounting standards ........................................................................ 7
3. Consolidated financial statements and significant notes thereto............................................................... 8(1) Consolidated balance sheet ................................................................................................................ 8(2) Consolidated statement of income and consolidated statement of comprehensive income ............. 10
Consolidated statement of income.................................................................................................... 10
Consolidated statement of comprehensive income .......................................................................... 11(3) Consolidated statement of changes in equity ................................................................................... 12(4) Consolidated statement of cash flows .............................................................................................. 14(5) Notes to consolidated financial statements....................................................................................... 16
Uncertainties of entity’s ability to continue as going concern ......................................................... 16
Changes in accounting policies ........................................................................................................ 16
Change in presentation method ........................................................................................................ 16
Additional information ..................................................................................................................... 16
Segment information, etc. ................................................................................................................ 17
Per share information ....................................................................................................................... 24
Significant events after reporting period .......................................................................................... 25-1-

SALA Corporation (2734)

1. Overview of operating results, etc.
(1) Overview of operating results for the fiscal year
In the fiscal year ended November 30, 2023, the economic outlook remained uncertain because ofrising prices placing pressure on corporate activities and household budgets due to the prolonged
uncertainty over the situation in Ukraine, depreciation of the yen, etc.
Under these conditions, the SALA Group has established the fifth medium-term management plan withthe fiscal year ended November 30, 2023 as the first fiscal year, and focuses on collaboration and cocreation for further growth, setting the basic policy of “going beyond the framework.” The plan sets
forth five key strategies: “service and business development in the Life Creative Business Unit* andtransformation of the business format,” “enhancing brand value through ‘customer experience’ thatexceeds expectations,” “business creation through ‘co-creation’ with parties inside and outside theGroup,” “improving profitability in existing business fields,” and “transforming into an organizational
culture that attracts people who ‘think and act on their own initiative.’” The Company aims to enhance
SALA’s brand value by solving local community and customer issues. In addition, in order to achieve
the goals of the plan, the Company proactively invests in new growth areas for promoting carbon
neutrality and works to fundamentally reform the business structure through digital transformation(DX). During the fiscal year ended November 30, 2023, SALA ENERGY CO., LTD., which is theEnergy & Solutions business, has decided to install grid storage batteries as investment in new growthon the premises of that company’s Hamamatsu Supply Center in Hamamatsu City, marking the firstsuch battery system in Shizuoka Prefecture. This storage battery facility is scheduled to start operations
around spring 2026. In addition, the company proceeded with the restructuring of its core system totransform operations traditionally divided by gas type (city gas and LP gas) through the use of digitaltechnology and to provide high quality services tailored to each individual customer. The Engineering& Maintenance business advanced expansion of transactions through proposal of solutions byenhancing contact with other companies in the SALA Group as well as worked to further strengthen therevenue base by improving the process management in the sales, construction and after-sales
maintenance departments. SALA HOUSE CO., LTD., which is the Housing business, commenced salesof housing rated as Life Cycle Carbon Minus (LCCM), an energy-saving and environmental standard
earmarked to become Japan’s future standard, and its new product, the “SINKA” series, which has
made an early adoption of the Net-zero Energy House (ZEH) standard in June 2023. SALA CARSJAPAN Co., Ltd., which is the Car Life Support business, began operating a carbon neutral store thatuses electricity and gas with virtually zero CO₂ emissions at all four offices in Hamamatsu City. ASCO
Co., Ltd., which is the Animal Health Care business, integrated its subsidiaries A.M.I. Co., Ltd. andDaiwa Pharmaceutical Co., Ltd. in December 2022 to streamline business. As for the Toyohashi
Ekimae Odori 2-chome District Redevelopment Project in which SALA Group is involved, following
on from the opening of emCAMPUS EAST in November 2021, we have been progressing planning on
emCAMPUS WEST, scheduled for completion in May 2024.
As for operating results for the current fiscal year, net sales increased by ¥7,211 million year on year to¥242,059 million due to a significant increase in revenue in the Energy & Solutions business. As forprofit, operating profit decreased by 11.7% year on year to ¥6,083 million due to decreases in profit
mainly in the Energy & Solutions business and the Housing business. Ordinary profit decreased by
8.5% year on year to ¥7,870 million due to an increase in gain on valuation of derivatives on forward
exchange contracts in non-operating income. Profit attributable to owners of parent increased by 7.3%
year on year to ¥6,099 million due to the recording of gain on revision of retirement benefit plan
recorded as extraordinary income, accompanying revision of the personnel system, which primarily
involved the extension of the retirement age and revision of the retirement benefit plans implemented
on April 1, 2023.
Net sales posted a record high.
* “Life Creative Business Unit” refers to business areas for daily living other than the energy business.

Result of each segment is as follows.

-2-

SALA Corporation (2734)

Energy & Solutions businessNet sales¥127,117 million (up 9.0% year on year)

Operating profit ¥2,989 million (down 25.2% year on year)
Net sales increased significantly due to the upward adjustment of the selling price of city gas basedon a system to adjust raw material costs. On the other hand, as for profit, operating profit decreased
due to a decrease in sales volume of gas, mainly for home use and industrial use, in addition to theimpact of high energy and raw material prices.
Engineering & Maintenance businessNet sales¥30,646 million (up 1.5% year on year)

Operating profit ¥2,659 million (up 21.3% year on year)
Net sales increased as completed projects increased in the civil engineering department, theconstruction department and the equipment work department. In addition, as for profit, operating
profit increased due to the increased gross profit by efforts of each department to reduce cost of
sales by thorough process management.
Housing businessNet sales¥34,180 million (down 10.5% year on year)

Operating profit ¥142 million (down 74.9% year on year)
In the housing sales department, the number of houses sold decreased for both custom-built houses
and lot houses due to fewer orders carried over for custom-built houses from the previous period,
as well as due to a decline in the number of orders for lot houses during the period. Consequently,
net sales and operating profit both decreased.
Car Life Support businessNet sales¥18,154 million (up 7.0% year on year)

Operating profit ¥19 million (down 91.7% year on year)
Both Volkswagen and Audi experienced an increase in the number of new cars sold due to theeasing of the impact of the lower production volume resulting from semiconductor shortages, etc.
In addition to the above, net sales increased due to an increase in the number of used Volkswagen
cars sold. On the other hand, as for profit, operating profit decreased due to an increase in selling,
general and administrative expenses mainly due to opening new stores.
Animal Health Care businessNet sales¥25,122 million (down 3.3% year on year)

Operating profit ¥313 million (down 53.1% year on year)
In the livestock farming department, orders for veterinary medical products, etc. decreased due to a
decline in the willingness to buy of livestock farmers, our customers, given the impact of high feed
prices. In the pet-related department, sales volumes of veterinary medical products, etc. declined
mainly in eastern Japan amid an increasingly competitive environment with other companies in theindustry. Consequently, net sales and operating profit both decreased.

-3-

SALA Corporation (2734)

Properties businessNet sales¥5,005 million (up 5.9% year on year)

Operating profit ¥411 million (operating loss of ¥418 million for the previous fiscal year)
In the real estate properties department, net sales increased due to the sale of an owned building.
Furthermore, in the hospitality department, the number of guests for hotel overnight stays,
banquets, bridal services, etc. increased due to the easing of restrictions associated with COVID19. Consequently, net sales and operating profit both increased.
(2) Overview of financial position for the fiscal year
Assets, liabilities and net assets

AssetsLiabilities
Net assets

As of November 30, 2022
188,417
115,062
73,355

As of November 30, 2023
189,267
110,62178,645(Millions of yen)
Changes
850(4,440)5,290

AssetsAssets were ¥189,267 million, up ¥850 million from November 30, 2022. This was mainly due toincreases in “retirement benefit asset” by ¥2,221 million, “merchandise and finished goods” by ¥1,467
million, and “investment securities” by ¥983 million, despite decreases in “property, plant andequipment” by ¥2,591 million and “cash and deposits” by ¥1,224 million.
Liabilities
Liabilities were ¥110,621 million, down ¥4,440 million from November 30, 2022. This was mainly due
to decreases in “long-term borrowings (including current portion)” by ¥2,011 million, “notes andaccounts payable - trade” by ¥1,601 million, “income taxes payable” by ¥1,353 million, “other” undercurrent liabilities by ¥938 million and “retirement benefit liability” by ¥867 million, despite an increasein “short-term borrowings” by ¥2,635 million.
Net assets
Net assets were ¥78,645 million, up ¥5,290 million from November 30, 2022. This was mainly due toan increase in “retained earnings” by ¥4,250 million (increased by ¥6,099 million due to recording of
profit attributable to owners of parent and decreased by ¥1,848 million due to payment of dividends).
(3) Overview of cash flow position for the fiscal year
Cash and cash equivalents (hereinafter referred to as “cash”) in the current fiscal year decreased by¥1,225 million in total, resulting from net cash provided by operating activities of ¥5,762 million, net
cash used in investing activities of ¥5,621 million, and net cash used in financing activities of ¥1,366
million.
Cash flows from operating activities
Net cash provided by operating activities was ¥5,762 million (down 42.0% year on year). This was
mainly due to increase factors such as “profit before income taxes” of ¥9,376 million and“depreciation” of ¥6,539 million, and decrease factors including “income taxes paid” of ¥4,063 million,“increase in retirement benefit asset” of ¥2,221 million, “decrease in trade payables” of ¥1,866 millionand “other, net” of ¥1,074 million.
Cash flows from investing activities
Net cash used in investing activities was ¥5,621 million (45.6% increase of cash outflow year on year).
This was mainly due to decrease factors such as “purchase of property, plant and equipment” of ¥5,664-4-

SALA Corporation (2734)

million and “purchase of intangible assets” of ¥1,300 million, and increase factors including “proceedsfrom collection of loans receivable” of ¥895 million and “proceeds from sale of property, plant andequipment” of ¥662 million.
Cash flows from financing activities
Net cash used in financing activities was ¥1,366 million (79.1% decrease of cash outflow year on year).
This was mainly due to decrease factors such as “repayments of long-term borrowings” of ¥7,402
million and “dividends paid” of ¥1,842 million, and increase factors including “proceeds from longterm borrowings” of ¥5,400 million and “net increase in short-term borrowings” of ¥2,635 million.
The Group’s cash flow indices were as follows.
FY2019FY2020

FY2021

FY2022

FY2023Equity-to-asset ratio (%)

30.0

32.1

34.9

38.2

40.8

Market value equity ratio (%)

19.7

18.9

19.3

25.4

24.0

Interest-bearing debt to cash flow ratio (years)

9.9

6.3

3.8

5.5

9.6

Interest coverage ratio (times)

29.1

44.6

84.2

62.3

35.2

(Notes) 1. Each index was calculated by the following formulas using financial figures on a consolidated basis.
Equity-to-asset ratio: equity / total assets
Market value equity ratio: market capitalization / total assets
Interest-bearing debt to cash flow ratio: interest-bearing debt / cash flow
Interest coverage ratio: cash flow / interest payments
2. Market capitalization was calculated as the closing price of share price at period-end multiplied by
the number of issued shares at period-end after deducting treasury shares.
3. Interest-bearing debt covers all liabilities on which interest has been paid among liabilities recordedin the consolidated balance sheet.
4. For cash flow and interest payments, “cash flows from operating activities” and “interest paid”
recorded in the consolidated statement of cash flows were used.

(4) Future outlooki) Medium- to long-term management strategies
In 2019, the year of its 110th anniversary, the SALA Group set forth its 2030 vision, “SALA in mytown, SALA with people’s lives,” as the future we want to realize. In this vision, we pledge to continue
to provide new and enjoyable value, as well as safety, security, comfort, and convenience, by
thoroughly pursuing the ease of life for our customers even in the midst of drastic social changes. In
addition, the Group aims to establish the SALA brand as proof of trust for customers, communities,business partners and shareholders, and be a company that is the best place to work for employees. The
fifth medium-term management plan (from the fiscal year ended November 30, 2023 to the fiscal year
ending November 30, 2025), which we are currently working on, sets the basic policy of “going
beyond the framework” to take on the challenge of further growth. Through proactive collaboration andco-creation among companies within and outside the Group, we are working to solve local communityand customer issues and provide customer experiences that exceed customer expectations, thereby
enhancing SALA’s brand value and working towards realizing the 2030 vision.
Priority initiatives of each segment
Energy & Solutions•

Through energy-saving and carbon-neutral proposals, we will work to resolve issues faced by ourcustomers and local communities. In addition, we will utilize collaboration and co-creation among-5-

SALA Corporation (2734)

companies within and outside the Group to take on the challenge of expanding into new
businesses and fields related to existing businesses.
•

Positioning the electric power business as a new growth area, we will accelerate efforts to achievecarbon neutrality in the local community by strengthening profitability in the electric power retailsector, developing renewable energy sources, and investing in power storage and other facilities.

•

We will work to improve the efficiency of business processes, including customer service, throughthe use of digital technology, and aim to expand profit-earning opportunities by linking customer
data within the Group.

Engineering & Maintenance•

We will continue to reform business processes to create a stable revenue base and strengthen ourorganizational capabilities by improving management levels and enhancing employee training.

•

We will continue to contribute to carbon neutrality in our customers’ business activities by
proposing infrastructure that contributes to decarbonization through energy conservation, energy
creation, and carbon offsetting.

Housing•

In the housing sales department, we will strengthen profitability by continuing to develop products
and services from the customer’s perspective, and by measures including reduction of construction
costs, thorough cost control, as well as reforming business processes in existing businesses.

•

The housing components and materials processing and sales department will work to expand
construction sales by improving construction capabilities for exterior and building frames, and to
expand transactions by strengthening the handling of carbon-neutral materials.

Car Life Support•

We will expand our customer base by strengthening cooperation among the new and used car sales
departments and service department, and pursue the use of customer information, store
development, and human resources development that will lead to higher customer satisfaction.

•

We will promote carbon neutrality of our dealerships and maintenance garages through groupwide cooperation, and work on sales of electric vehicles (EVs) and the creation of new services toconnect homes, cars and energy.

Animal Health Care•

We will work to transform ourselves into an efficient business structure by restructuring our
supply chain, including the separation of sales and delivery operations and the consolidation of
warehouse operations.

•

In addition to marketing and establishing new sales methods to expand market share, we will
strengthen our organizational capabilities by developing human resources and enhancing
management.

Properties•

The real estate properties department will improve profitability through initiatives to strengthen
contact with customers, related to customers’ asset management and operation, and byimplementing previously owned home business through group-wide cooperation.

•

At emCAMPUS WEST, the Toyohashi Ekimae Odori 2-chome District Redevelopment Projectscheduled for completion in 2024, we will work to create a new space that will lead to urban
revitalization, based on the concept of improving the health and quality of life of customers of
local residents and creating a lively atmosphere.

•

In the hospitality department, we will strengthen our product planning capabilities and employee
training to increase the number of new customers and encourage repeat usage by customers
through the provision of high-quality products and services.

-6-

SALA Corporation (2734)

ii) Plan for the next fiscal year
Profit attributableto owners ofparent(Millions of yen)

Net sales(Millions ofyen)Operatingprofit(Millions ofyen)

Ordinary
profit(Millions ofyen)

Fiscal year ending
November 30, 2024 (plan)

255,000

7,300

8,200

5,600

87.57

Fiscal year ended
November 30, 2023
(actual)242,059

6,083

7,870

6,099

95.46

5.3

20.0

4.2

(8.2)

Changes (%)

Basic earnings
per share(Yen)(Note) The effects of loss (gain) on valuation of derivatives on forward exchange contracts are not included in theplan for the fiscal year ending November 30, 2024.

(5) Basic policy on profit sharing and dividends for the current and next fiscal years
The Company has stipulated, as its basic policy on dividends, that the Company pays dividends withthe target consolidated payout ratio excluding effects of loss (gain) on valuation of derivatives on
forward exchange contracts at 30%.
Because SALA e POWER Co., Ltd., a consolidated subsidiary of the Company, entered into a forward
exchange contract in November 2017 to pay for foreign-currency purchase transactions of imported
materials, market price valuation differences for the forward exchange contract will be recorded as loss
(gain) on valuation of derivatives at each quarter-end for the time being. Since these market pricevaluation differences are merely valuations at market value as at period-end which do not involve any
movement of cash flows, such a changing faction is excluded from resources that serve as the basis forprofit sharing.
As for the year-end dividend for the current fiscal year, the Company decided at the Board of Directors
meeting held on January 12, 2024 to pay an ordinary dividend of ¥13 per share based on the basic
dividend policy above. (Effective date: January 31, 2024)
As a result, the annual dividend for the current fiscal year, together with the interim dividend of ¥13, is¥26 per share.
In addition, the consolidated payout ratio excluding the effects of loss (gain) on valuation of derivatives
on forward exchange contracts is 30.9%.
For dividends for the next fiscal year, the Company will also make a payment in accordance with theabove basic policy.

2. Basic policy regarding selection of accounting standards
The Group adopts the Japanese GAAP as the accounting standards in order to ensure comparability among
other domestic companies in the same industry.

-7-

SALA Corporation (2734)

3. Consolidated financial statements and significant notes thereto(1) Consolidated balance sheet(Millions of yen)

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract
assetsElectronically recorded monetary claims - operating
Investments in leases
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
Gas pipe, net
Land
Leased assets, net
Construction in progress
Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Retirement benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets-8-

As of November 30, 2022

As of November 30, 2023

24,191

22,96633,07732,2542,010
1,581
12,520
7,656
267
3,305
(206)
84,404

1,834
1,820
13,988
7,477
444
4,149
(186)
84,75020,205
7,737
16,34733,287
645
1,572
703
80,49820,306
7,141
14,84832,431
727
1,760
691
77,906

274
1,731
2,006

263
2,553
2,816

7,913
3,204
–
4,492
6,358
(460)
21,507104,012
188,417

8,897
2,412
2,221
3,848
6,858
(444)
23,793
104,517
189,267SALA Corporation (2734)(Millions of yen)

Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Current portion of long-term borrowings
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Provision for warranties for completed construction
Provision for loss on construction contracts
Provision for point card certificates
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Lease liabilities
Deferred tax liabilities
Provision for retirement benefits for directors (andother officers)
Provision for share-based payments
Provision for repairs
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets-9-

As of November 30, 2022

As of November 30, 2023

27,827
4,592
5,944
7,411
1,695
2,621

26,225
4,379
8,579
7,273
341
2,582

11

9

56
82
233
11,60962,08547
55
234
10,67060,39938,862
1,151
423

36,989
1,102
524

190

165

470
104
9,535
2,237
52,976
115,062

502
125
8,668
2,142
50,221
110,621

8,025
25,281
38,076(1,480)69,902

8,025
25,30042,326(1,383)74,267

518
587
1,003
2,109
1,342
73,355
188,417

985
442
1,483
2,911
1,466
78,645
189,267SALA Corporation (2734)(2) Consolidated statement of income and consolidated statement of comprehensive income
Consolidated statement of income(Millions of yen)
Fiscal year ended
November 30, 2022
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Purchase discounts
Gain on valuation of derivatives
Share of profit of entities accounted for using equity
methodOther
Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Reversal of provision for loss on guarantees
Gain on sale of businesses
Gain on revision of retirement benefit plan
Total extraordinary income
Extraordinary losses
Loss on sale and retirement of non-current assets
Loss on sale of investment securities
Impairment losses
Loss on disaster
Other
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent- 10 -

Fiscal year ended
November 30, 2023

234,848
177,251
57,59650,705
6,891

242,059
186,22955,82949,745
6,083

76
98
50
886

56
109
46
993

330

384

612
2,055

458
2,049

143
55
146
345
8,601

154
30
77
262
7,870

77
267
22
74
–
441

63
60
–
–
2,388
2,511

131
1
400
87
0
621
8,421
2,955
(297)
2,658
5,763
81
5,682

131
33
839
–
–
1,005
9,376
2,684
441
3,126
6,250
151
6,099

SALA Corporation (2734)

Consolidated statement of comprehensive income(Millions of yen)
Fiscal year ended
November 30, 2022
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests- 11 -

Fiscal year ended
November 30, 2023

5,763

6,250

76
231
1,473
1,781
7,545

468
(145)
478
802
7,052

7,440

6,901

105

151

SALA Corporation (2734)(3) Consolidated statement of changes in equity
For the fiscal year ended November 30, 2022
(Millions of yen)
Shareholders’ equity
Share capital
Balance at beginning of
periodCumulative effects ofchanges in accounting
policies
Restated balance

Capital surplus

Retained earnings

Treasury shares

Total shareholders’equity25,26933,365(1,585)65,074

8,025

601
8,025

25,269601

33,966(1,585)65,675

Changes during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesChange in scope of
consolidation
Change in ownershipinterest of parent due
to transactions with
non-controllinginterests
Net changes in items
other thanshareholders’ equity
Total changes during
periodBalance at end of period(1,584)(1,584)

5,682

5,682

(0)
(2)

(0)

(0)

105

105

11

9

14

14

–

11

4,109

105

4,226

8,025

25,281

38,076(1,480)69,902

Accumulated other comprehensive income
Valuation difference
on available-for-salesecurities
Balance at beginning of
periodCumulative effects ofchanges in accounting
policies
Restated balance

441

Deferred gains orlosses on hedges

Total accumulated
Remeasurements ofother comprehensive
defined benefit plansincome

356

(446)

351

Non-controllinginterests

Total net assets

1,273

66,699
601

441

356

(446)

351

1,273

67,300Changes during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesChange in scope of
consolidation
Change in ownershipinterest of parent due
to transactions with
non-controllinginterests
Net changes in items
other thanshareholders’ equity
Total changes during
periodBalance at end of period(1,584)
5,682
(0)
105
9

14

76

231

1,450

1,758

69

1,827

76

231

1,450

1,758

69

6,054

518

587

1,003

2,109

1,342

73,355- 12 -

SALA Corporation (2734)

For the fiscal year ended November 30, 2023
(Millions of yen)
Shareholders’ equity
Share capital
Balance at beginning of
periodCumulative effects ofchanges in accounting
policies
Restated balance

Capital surplus

Retained earnings

Treasury shares

Total shareholders’equity25,281

38,076(1,480)69,902

8,025

–
8,025

25,281

38,076(1,480)69,902

Changes during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesChange in scope of
consolidation
Change in ownershipinterest of parent due
to transactions with
non-controllinginterests
Net changes in items
other thanshareholders’ equity
Total changes during
periodBalance at end of period(1,848)(1,848)

6,099

6,099
(0)

(0)

97

97
–

18

18

–

18

4,250

96

4,365

8,025

25,30042,326(1,383)74,267

Accumulated other comprehensive income
Valuation difference
on available-for-salesecurities
Balance at beginning of
periodCumulative effects ofchanges in accounting
policies
Restated balance

518

Deferred gains orlosses on hedges

Total accumulated
Remeasurements ofother comprehensive
defined benefit plansincome

587

1,003

2,109

Non-controllinginterests

Total net assets

1,342

73,355
–

518

587

1,003

2,109

1,342

73,355

Changes during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesChange in scope of
consolidation
Change in ownershipinterest of parent due
to transactions with
non-controllinginterests
Net changes in items
other thanshareholders’ equity
Total changes during
periodBalance at end of period(1,848)
6,099
(0)
97
–

18

467

(145)

479

801

123

925

467

(145)

479

801

123

5,290

985

442

1,483

2,911

1,466

78,645- 13 -

SALA Corporation (2734)(4) Consolidated statement of cash flows(Millions of yen)
Fiscal year ended
November 30, 2022
Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment losses
Amortization of goodwill
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for bonuses for
directors (and other officers)
Increase (decrease) in provision for warranties forcompleted construction
Increase (decrease) in provision for loss on construction
contracts
Increase (decrease) in provision for point cardcertificates
Increase (decrease) in provision for retirement benefits
for directors (and other officers)
Increase (decrease) in provision for share-based
payments
Increase (decrease) in provision for repairs
Increase (decrease) in provision for loss on guarantees
Increase (decrease) in retirement benefit liability
Decrease (increase) in retirement benefit asset
Interest and dividend income
Interest expenses
Share of loss (profit) of entities accounted for using
equity method
Loss (gain) on valuation of derivatives
Loss (gain) on sale and retirement of non-current assets
Loss (gain) on sale of investment securities
Loss (gain) on sale of businesses
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in long-term accounts payable other
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities- 14 -

Fiscal year ended
November 30, 2023

8,421
6,827
400
155
42
(17)

9,376
6,539
839
120
(37)
(39)

4

(1)

(8)

(8)

(82)

(26)

1

1

(4)

(24)

52

31

21
(193)
(99)
–
(174)
144

21
–
(12)
(2,221)
(165)
154

(330)

(384)

(886)
(25)
(266)
(74)
(5,725)
934
3,308

(993)
(36)
(26)
–
704
(1,024)(1,866)

(54)

(37)

38
12,411208(159)(2,529)9,930(1,074)
9,807
183
(163)
(4,063)
5,762

SALA Corporation (2734)(Millions of yen)
Fiscal year ended
November 30, 2022
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sale of investment securities
Loan advances
Proceeds from collection of loans receivable
Proceeds from sale of businesses
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Purchase of treasury shares
Proceeds from sale of treasury shares
Dividends paid
Dividends paid to non-controlling interests
Purchase of shares of subsidiaries not resulting inchange in scope of consolidation
Repayments of finance lease liabilities
Net cash provided by (used in) financing activities
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period- 15 -

Fiscal year ended
November 30, 2023

(4,793)
191
(812)
(121)
359
(40)
791
513
49
(3,861)(5,664)662(1,300)
(318)
322
(90)
895
–
(128)
(5,621)

(847)
6,100
(10,022)(0)
105(1,594)
(5)

2,635
5,400
(7,402)(0)
97(1,842)
(6)

(16)

(8)

(243)
(6,524)(455)
24,227
23,772(238)(1,366)(1,225)23,772
22,547

SALA Corporation (2734)(5) Notes to consolidated financial statements
Uncertainties of entity’s ability to continue as going concern
Not applicable.
Changes in accounting policies
Application of Implementation Guidance on Accounting Standard for Fair Value Measurement
The Company has applied the “Implementation Guidance on Accounting Standard for Fair Value
Measurement” (ASBJ Guidance No. 31, June 17, 2021) from the beginning of the current fiscal year,
and it has applied the new accounting policy provided for by the Implementation Guidance on
Accounting Standard for Fair Value Measurement in accordance with the transitional measuresprovided for in paragraph 27-2 of the Implementation Guidance on Accounting Standard for Fair Value
Measurement. There is no impact on the consolidated financial statements.
Change in presentation method
Consolidated statement of income“Loss on sale of investment securities,” which was included in “other” under “extraordinary losses” inthe previous fiscal year, is presented as a separate line item from the current fiscal year due to its
increased importance in terms of amount. In order to reflect this change in presentation, the figures forthe previous fiscal year shown in the consolidated financial statements have been reclassified.
As a result, ¥2 million presented in “other” under “extraordinary losses” in the consolidated statementof income for the previous fiscal year has been reclassified as “loss on sale of investment securities” of¥1 million and “other” of ¥0 million.
Additional information
Practical Solution on the Accounting and Disclosure Under the Group Tax Sharing System
The Company and some consolidated subsidiaries transitioned from consolidated taxation system togroup tax sharing system from the current fiscal year. In accordance with this, the accounting treatment
and disclosure of corporate and local income taxes and tax-effect accounting are based on “Accounting
Treatment and Disclosure when Applying the Group Tax Sharing System” (ASBJ Practical Solution
No. 42, August 12, 2021, hereinafter Practical Solution No. 42). In accordance with Paragraph 32 (1) ofPractical Solution No. 42, the Company has assumed that there is no impact from the change inaccounting policy resulting from the application of Practical Solution No. 42.
Revision of the retirement benefit plan
The Company and some consolidated subsidiaries revised their retirement benefit plans effective April
1, 2023. For the accounting treatment associated with this revision, the Company has applied“Accounting for Transfer between Retirement Benefit Plans” (ASBJ Guidance No. 1, December 16,2016) and “Practical Solution on Accounting for Transfer between Retirement Benefit Plans” (ASBJ
PITF No. 2, February 7, 2007).
As a result, the Company recorded ¥2,388 million as gain on revision of retirement benefit plan under
extraordinary income for the current fiscal year.

- 16 -

SALA Corporation (2734)

Segment information, etc.
Segment information
1. Description of reportable segments
The reportable segments of the Group are components of the Group for which discrete financial
information is available and regularly reviewed by the Board of Directors to make decisions
about allocation of managerial resources and to assess their performance.
The Group is mainly engaged in the Energy & Solutions business, the Engineering &Maintenance business, the Housing business, the Car Life Support business, the Animal HealthCare business and the Properties business, and its major consolidated subsidiaries in eachsegment formulate a comprehensive strategy and conduct business activities. In addition, theCompany provides instruction and support on the formulation of comprehensive strategies of
consolidated subsidiaries.
Therefore, the reportable segments of the Group consist of segments by business based on eachof consolidated subsidiaries, and are six segments: “Energy & Solutions business,”“Engineering & Maintenance business,” “Housing business,” “Car Life Support business,”“Animal Health Care business,” and “Properties business.”
Products and services by reportable segment are as follows.
Energy & Solutions business

Sale of city gas, LP gas, petroleum products, high-pressure
gas and related equipment, electricity supply business, heat
supply business, business related to services for living, oiltransportation, general cargo transportation, etc.

Engineering & Maintenance business

Civil engineering work, construction work, manufacturing
and sale of construction materials, equipment work,
equipment maintenance, information and communications
related equipment work, etc.

Housing businessContracting of custom-built houses, contracting of building
renovation, sale and purchase, lease, brokerage andmanagement of real estate, sale of construction materials,
housing equipment and others, etc.

Car Life Support business

Sale and maintenance of imported cars, etc.

Animal Health Care business

Sale of veterinary medical products and equipment forlivestock farming, and sale of dietary additives for animal
use

Properties business

Lease, sale and purchase, and brokerage of real estate,condominium, hotel and food/beverage businesses, etc.

2. Explanation of measurements of sales, profit (loss), asset, and other items for each reportablesegment
The method of accounting for reported operating segments is the same as principles andprocedures for accounting treatment used to prepare the consolidated financial statements.
Profit of reportable segments is the figure based on operating profit.
Intersegment revenue or transfers are based on actual market price.

- 17 -

SALA Corporation (2734)

3. Disclosure of sales, profit (loss), asset, and other items for each reportable segment anddisaggregation of revenue
For the fiscal year ended November 30, 2022
(Millions of yen)
Reportable segments
Engineering&
Maintenancebusiness

Energy &Solutionsbusiness
Net sales
City gas
LP gasElectric power
Civil engineering work,
construction work, equipment
work
Housing, construction
materials
Automotive sales andmaintenance
Veterinary medical products
Lease, sale and purchase, andbrokerage of real estate, hotel
Other
Revenue from contracts withcustomers
Other revenue (Note 4)
Sales to external customers
Intersegment sales or transfers
Total
Segment profit (loss)
Segment assets
Other items
Depreciation
Amortization of goodwill
Investments in entities
accounted for using equity
methodIncrease in property, plant andequipment and intangible
assetsCar Life
Supportbusiness

Housingbusiness

AnimalHealth Carebusiness

46,10927,88814,449

–
–
–

–
–
–

–
–
–

–
–
–

–

30,184

–

–

–

–

–

38,209

–

–

–

–

–

16,964

–

–

–

–

–

25,989

–

–

–

–

–

28,186––––116,634

30,18438,20916,96425,989–116,634
2,411
119,046
3,996
99,644–30,184
5,279
35,464
2,192
24,617–
38,20910
38,219568
23,049–16,964
12
16,977241
11,256–25,989025,989669
10,159

5,334
85

158
–

136
70

545
–

59
–

1,349

–

–

–

–

4,792

136

110

811

143

- 18 -

SALA Corporation (2734)

Reportable segments
Properties
business
Net sales
City gas
LP gasElectric power
Civil engineering work,
construction work, equipment
work
Housing, construction
materials
Automotive sales andmaintenance
Veterinary medical products
Lease, sale and purchase, andbrokerage of real estate, hotel
Other
Revenue from contracts withcustomers
Other revenue (Note 4)
Sales to external customers
Intersegment sales or transfers
Total
Segment profit (loss)
Segment assets
Other items
Depreciation
Amortization of goodwill
Investments in entities
accounted for using equity
methodIncrease in property, plant andequipment and intangible
assets

Total

Other
(Note 1)

Total

Adjustment(Note 2)Carrying
amount(Note 3)–––

46,10927,88814,449–––46,10927,88814,449–––46,10927,88814,449–30,184–30,184–30,184–38,209–38,209–38,209–16,964–

16,964–

16,964–25,989–25,989–25,989

4,728

4,728

–

4,728

–

4,728

–

28,186

1,766

29,953137

30,091

4,728

232,711

1,766

234,478137

234,615

–
4,728
512
5,240
(418)
12,538–
232,7118,226
240,938
7,250
181,265

232
1,998
1,804
3,803
102
7,773

232
234,710
10,031
244,741
7,352
189,038–137(10,031)(9,893)
(461)
(621)

232
234,848–
234,848
6,891
188,417

382
–

6,616
155

170
–

6,786
155

40
–

6,827
155

–

1,349

1,991

3,340

–

3,340

248

6,242

94

6,337

415

6,752

(Notes) 1. The “other” category represents operating segments that are not included in reportable segments, and includes
manufacturing auto parts, installment sale and lease.
2. Adjustment is as follows.
(1) Adjustment to segment profit (loss) of ¥(461) million includes intersegment eliminations of ¥1,176 million
and corporate expenses of ¥(1,637) million. Corporate expenses are mainly general and administrative
expenses, which are not attributable to the reportable segments.
(2) Adjustment to segment assets of ¥(621) million includes intersegment eliminations of ¥(12,023) million andcorporate assets of ¥11,401 million.
(3) Adjustment to depreciation of ¥40 million includes intersegment eliminations of ¥(52) million and corporate
expenses of ¥92 million.
(4) Adjustment to increase in property, plant and equipment and intangible assets of ¥415 million includes
intersegment eliminations of ¥(201) million and corporate assets of ¥616 million.
3.
4.

Segment profit (loss) was adjusted with operating profit in the consolidated statement of income.
“Other revenue” includes revenue on lease, etc.

- 19 -

SALA Corporation (2734)

For the fiscal year ended November 30, 2023
(Millions of yen)
Reportable segments
Engineering&
Maintenancebusiness

Energy &Solutionsbusiness
Net sales
City gas
LP gasElectric power
Civil engineering work,
construction work, equipment
work
Housing, construction
materials
Automotive sales andmaintenance
Veterinary medical products
Lease, sale and purchase, andbrokerage of real estate, hotel
Other
Revenue from contracts withcustomers
Other revenue (Note 4)
Sales to external customers
Intersegment sales or transfers
Total
Segment profit (loss)
Segment assets
Other items
Depreciation
Amortization of goodwill
Investments in entities
accounted for using equity
methodIncrease in property, plant andequipment and intangible
assetsCar Life
Supportbusiness

Housingbusiness

AnimalHealth Carebusiness

52,20327,80316,092

–
–
–

–
–
–

–
–
–

–
–
–

–

30,646

–

–

–

–

–

34,180

–

–

–

–

–

18,154

–

–

–

–

–

25,122

–

–

–

–

–

31,018––––127,11730,64634,18018,15425,122–
127,1172,258
129,376
2,989
97,920–30,646
5,977
36,623
2,659
25,699–34,18017
34,197
142
23,767–
18,154
9
18,16419
11,918–25,122
025,122313
10,082

5,278
93

161
–

125
27

422
–

70
–

1,520

–

–

–

–

6,254

169

180

292

83

- 20 -

SALA Corporation (2734)
Reportable segments
Properties
Total
business
Net sales
City gas
LP gasElectric power
Civil engineering work,
construction work, equipment
work
Housing, construction
materials
Automotive sales andmaintenance
Veterinary medical products
Lease, sale and purchase, andbrokerage of real estate, hotel
Other
Revenue from contracts withcustomers
Other revenue (Note 4)
Sales to external customers
Intersegment sales or transfers
Total
Segment profit (loss)
Segment assets
Other items
Depreciation
Amortization of goodwill
Investments in entities
accounted for using equity
methodIncrease in property, plant andequipment and intangible
assets

Other(Note 1)

Total

Adjustment(Note 2)Carrying
amount(Note 3)–––52,20327,80316,092–––

52,20327,80316,092–––

52,20327,80316,092–30,646–30,646–30,646–34,180–34,180–34,180–18,154–

18,154–

18,154–25,122–25,122–25,122

5,005

5,005

–

5,005

–

5,005

–

31,0181,420

32,438167

32,606

5,005

240,227

1,420

241,648167

241,815

–
5,005
515
5,520
411
13,009–240,227
8,776
249,004
6,536
182,397

243
1,664
1,904
3,569
114
9,084

243
241,892
10,681
252,574
6,651
191,481–167(10,681)(10,514)(567)(2,214)243
242,059–
242,059
6,083
189,267

342
–

6,401
120

154
–

6,556
120

(16)
–

6,539
120

–

1,520

2,058

3,579

–

3,579

153

7,133

233

7,366

(191)

7,175

(Notes) 1. The “other” category represents operating segments that are not included in reportable segments, and includes
manufacturing auto parts, installment sale and lease.
2. Adjustment is as follows.
(1) Adjustment to segment profit (loss) of ¥(567) million includes intersegment eliminations of ¥967 million andcorporate expenses of ¥(1,534) million. Corporate expenses are mainly general and administrative expenses,
which are not attributable to the reportable segments.
(2) Adjustment to segment assets of ¥(2,214) million includes intersegment eliminations of ¥(13,447) million andcorporate assets of ¥11,233 million.
(3) Adjustment to depreciation of ¥(16) million includes intersegment eliminations of ¥(107) million andcorporate expenses of ¥90 million.
(4) Adjustment to increase in property, plant and equipment and intangible assets of ¥(191) million includes
intersegment eliminations of ¥(201) million and corporate assets of ¥9 million.
3. Segment profit (loss) was adjusted with operating profit in the consolidated statement of income.
4. “Other revenue” includes revenue on lease, etc.

- 21 -

SALA Corporation (2734)

Information associated with reportable segments
For the fiscal year ended November 30, 2022
1. Information for each product or service
The information is omitted because the same information is disclosed in Segment information.
2. Information for each region(1) Net sales
Not applicable, because there are no sales to external customers outside Japan.
(2) Property, plant and equipment
Not applicable, because there are no property, plant and equipment located outside Japan.
3. Information for each of main customers
This information has been omitted because there were no customers that accounted for 10% ormore of total net sales recorded on the consolidated statement of income.
For the fiscal year ended November 30, 2023
1. Information for each product or service
The information is omitted because the same information is disclosed in Segment information.
2. Information for each region(1) Net sales
Not applicable, because there are no sales to external customers outside Japan.
(2) Property, plant and equipment
Not applicable, because there are no property, plant and equipment located outside Japan.
3. Information for each of main customers
This information has been omitted because there were no customers that accounted for 10% ormore of total net sales recorded on the consolidated statement of income.

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SALA Corporation (2734)

Disclosure of impairment losses on non-current assets for each reportable segment
For the fiscal year ended November 30, 2022
(Millions of yen)
Impairment losses
Energy & Solutions business

340

Engineering & Maintenance business–Housing business–

Car Life Support business–

Animal Health Care business–

Properties business

60

Other

–

Unallocated amounts and elimination

–

Total

400

For the fiscal year ended November 30, 2023
(Millions of yen)
Impairment losses
Energy & Solutions business

182

Engineering & Maintenance business–Housing business

25

Car Life Support business

68

Animal Health Care business–

Properties business

572

Other

–

Unallocated amounts and elimination

(9)

Total

839

Amortization and unamortized balance of goodwill for each reportable segment
For the fiscal year ended November 30, 2022
(Millions of yen)Amortization in thefiscal year
Energy & Solutions business

Balance at end of period
85

233

Engineering & Maintenance business––Housing business

70

41

Car Life Support business––

Animal Health Care business––

Properties business

–

–

Other

–

–

Unallocated amounts and elimination

–

–

155

274

Total

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SALA Corporation (2734)

For the fiscal year ended November 30, 2023
(Millions of yen)Amortization in thefiscal year

Balance at end of period

Energy & Solutions business

93

249

Engineering & Maintenance business––Housing business

27

13

Car Life Support business––

Animal Health Care business––

Properties business

–

–

Other

–

–

Unallocated amounts and elimination
Total

–

–

120

263

Information about gain on bargain purchase for each reportable segment
For the fiscal year ended November 30, 2022
Not applicable.
For the fiscal year ended November 30, 2023
Not applicable.
Per share information
Fiscal year ended November 30,
2022
Net assets per share
Basic earnings per share(Yen)
Fiscal year ended November 30,
2023

1,128.69

1,206.92

89.12

95.46

(Notes) 1. Diluted earnings per share is not presented since no potential shares exist.
2. The Company has introduced the Employee Shareholding Incentive Plan and the share-based remuneration
plan for Directors, and shares of the Company held by the SALA Corporation Board Benefit Trust areincluded in treasury shares deducted from the total number of issued shares at period-end in calculating “netassets per share” (Board Benefit Trust: 2,227 thousand shares in the previous fiscal year, and 2,080 thousand
shares in the current fiscal year).
Furthermore, in calculating “basic earnings per share,” such shares are included in treasury shares deductedin the calculation of the average number of shares outstanding during the period (trust exclusive to the
Employees’ Shareholding Association: 1 thousand shares in the previous fiscal year, and - thousand shares in
the current fiscal year; Board Benefit Trust: 2,271 thousand shares in the previous fiscal year, and 2,132
thousand shares in the current fiscal year).
The Employee Shareholding Incentive Plan was terminated in December 2021.
3. The basis for calculation of basic earnings per share is as follows:
Fiscal year ended November 30,
2022

Fiscal year ended November 30,
2023

5,682

6,099

–

–

5,682

6,099

63,75763,896

Profit attributable to owners ofparent (Millions of yen)
Profit not attributable to commonshareholders (Millions of yen)
Profit attributable to owners ofparent pertaining to common shares(Millions of yen)
Average number of outstanding
common shares during the period(Thousands of shares)- 24 -

SALA Corporation (2734)

Significant events after reporting period
Not applicable.

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