This document has been translated from a part of 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.

SENKO Group Holdings Co., Ltd.

Summary of Financial Statements for the Third Quarter of the Fiscal Year Ending March 31, 2024
[Japan GAAP]
February 9, 2024
Name of Listed Company:
Code Number:
Representative:
Inquiries:

SENKO Group Holdings Co., Ltd.
Stock Listed on: Tokyo Stock Exchange
9069
URL https://www.senkogrouphd.co.jp/en/
Title: President and Representative Director
Name: Yasuhisa Fukuda
Title: Executive Officer, Responsible for PR & IR
Name: Satoru Kokubo
Tel. (03) 6862-8842

Scheduled Date of Issue of Quarterly Financial Report: February 14, 2024
Yes
Quarterly Supplemental Information Materials:
None
Quarterly Information Meeting:

Scheduled Date of Dividend Paid: –(Amounts less than ¥1 million have been rounded down)
1. Consolidated Operating Results for the Nine Months Ended December 31, 2023
(1) Consolidated Operating Results (Cumulative)
Operating revenue
Nine months ended December 31, 2023
Nine months ended December 31, 2022

Million yen
582,786
515,298

%
13.1
10.7

(Percentage figures represent year-on-year changes)
Profit attributable toOperating profit
Ordinary profit
owners of parent
Million yen%
Million yen%
Million yen%
25,382
16.5
25,64714.7
15,152
1.4
21,786
7.1
22,362
6.4
14,94718.5(Note) Comprehensive income
Nine months ended December 31, 2023: ¥20,098 million (2.7%)

Nine months ended December 31, 2022: ¥19,577 million (48.1%)

Profitper share

Diluted profit
per shareYen
101.09100.28

Yen
89.53
88.81

Total assets
Million yen
637,876
581,850

Net assets
Million yen
199,816
179,103

Nine months ended December 31, 2023
Nine months ended December 31, 2022
(2) Consolidated Financial Position

As of December 31, 2023
As of March 31, 2023
(Reference) Equity:
As of December 31, 2023: ¥174,511 million

Equity ratio
%
27.4
27.6

Net assets per share
Yen
1,157.63
1,075.69

As of March 31, 2023: ¥160,510 million

2. Dividends
June 30

September 30
Yen
17.00
19.00

Yen
Fiscal year ended March 31, 2023–
Fiscal year ending March 31, 2024–
Fiscal year ending March 31, 2024
(Forecast)(Note) Change in the estimation of dividend for the fiscal year in this period: None

Annual dividend
December 31
Yen––March 31

Total

Yen
17.00

Yen
34.00

19.00

38.00

3. Forecast of Consolidated Operating Results for the Fiscal Year Ending March 31, 2024 (From April 1, 2023 to March 31, 2024)
Operating revenue
Million yen%
Fiscal year ending March 31, 2024
780,000 12.0
(Note) Change in the forecast made in this period: None

Operating profit
Million yen
29,700%16.3(Percentage figures represent year-on-year changes)
Profit attributable toProfitOrdinary profit
owners of parent
per share
Million yen% Million yen%
Yen
29,700 13.6
17,00010.8
113.41

Notes(1) Changes in significant subsidiaries during the period (Changes in specified subsidiaries associated with change in scope of
consolidation): None
(2) Use of accounting methods specifically for the preparation of the quarterly consolidated financial statements: None
(3) Changes in accounting principles and estimates, and retrospective restatement(a) Changes due to revision of accounting standards: None(b) Changes other than in (a): None(c) Changes in accounting estimates: None(d) Retrospective restatement: None
(4) Shares outstanding (Common shares)(a) Shares outstanding (including treasury shares)
As of December 31, 2023:

157,070,496 shares

As of March 31, 2023:

157,070,496 shares

6,322,094 shares

As of March 31, 2023:

7,853,758 shares(b) Treasury shares
As of December 31, 2023:(c) Average number of shares (Cumulative)
Nine months ended December 31, 2023: 149,886,169 shares

Nine months ended December 31, 2022:

149,049,945 shares(Note) Starting with the third quarter of the fiscal year ended March 31, 2018, the number of treasury shares at term-end includes Senko
shares owned by the trust accounts of Performance-linked Stock Compensation Plan for Employees (as of December 31, 2023:
805,545 shares; as of March 31, 2023: 334,566 shares) and Performance-linked Stock Compensation Plan for Directors (as ofDecember 31, 2023: 788,972 shares; as of March 31, 2023: 316,723 shares). In addition, starting with the fourth quarter of the fiscal
year ended March 31, 2023, the number of treasury shares at term-end includes Senko shares owned by the employee shareholding
association support trust ESOP (as of December 31, 2023: 4,230,300 shares; as of March 31, 2023: 5,255,100 shares).
Quarterly financial results reports are exempt from quarterly reviews conducted by certified public accountants or an audit corporation.
Cautionary statement regarding forecasts of operating results and special notesForward-looking statements in these materials are based on information available to management at the time this report was prepared
and assumptions that management believes are reasonable. Actual results may differ significantly from these statements for a numberof reasons. For information about the assumptions used for forecasts and precautions concerning the use of forecasts, please see“Forecast for the full-term of the fiscal year ending March 31, 2024” on page 3.

The supplementary material on quarterly earnings will be available on the Company’s website.

Index to accompanying materials

1. Results of Operations and Financial Condition ........................................................................................................................................... 2(1) Results of operations........................................................................................................................................................................... 2(2) Financial condition ............................................................................................................................................................................... 3(3) Forecast for the full-term of the fiscal year ending March 31, 2024................................................................................................... 3
2. Consolidated Financial Statements ............................................................................................................................................................. 4(1) Consolidated balance sheets .............................................................................................................................................................. 4(2) Consolidated statements of (comprehensive) income ....................................................................................................................... 6
Consolidated statements of income
For the nine months ended December 31, 2022 and 2023 ............................................................................................................ 6
Consolidated statements of comprehensive income
For the nine months ended December 31, 2022 and 2023 ............................................................................................................ 7

1

1.

Results of Operations and Financial Condition(1) Results of operations
In the nine-month period of the fiscal year ending March 31, 2024 (April 1, 2023 to December 31, 2023), although economic activities
have been normalizing after the reclassification of COVID-19 to Class 5, the outlook for the economic environment overall continues tobe unclear with the worsening situation in the Middle East and the protraction of the Ukraine situation, concerns about the future of theChinese economy, and an increasingly frugal mindset due to the rising price of goods.
The nine-month-period performance was as follows.
(Unit: Millions of Yen)

Operating revenue
Operating profit
Ordinary profit
Profit attributable to owners ofparentNine months ended
December 31, 2022
515,298

Nine months ended
December 31, 2023
582,786

21,78622,362
14,947

Change%67,48713.1

25,38225,647

3,596
3,285

16.5
14.7

15,152204

1.4

Despite facing the impact of declining cargo movements in logistics, along with rising purchase prices and the like, owing to group-wide
efforts to expand sales and revise tariffs and prices, along with the effect of promoting M&A, the Group achieved year-on-year increases
in operating revenue, operating profit, ordinary profit and profit attributable to owners of parent.
The nine-month-period operating revenue by segment was as follows.
Logistics(Unit: Millions of Yen)

Operating revenue
Segment income

Nine months ended
December 31, 2022
360,342

Nine months ended
December 31, 2023
372,374

20,095

21,616

Change%12,031

3.3

1,521

7.6

Notwithstanding the impact of declining cargo movements, a focus on sales expansion and initiatives to address tariff revisions, together
with the effect of promoting M&A, caused operating revenue to increase ¥12,031 million year on year to ¥372,374 million, and segment
income rose ¥1,521 million year on year to ¥21,616 million.
Trading & Commerce(Unit: Millions of Yen)

Operating revenue
Segment income

Nine months ended
December 31, 2022
119,326

Nine months ended
December 31, 2023
127,454

1,892

1,882

Change

%
8,128

6.8

(10)

(0.5)

Although we strived to revise prices and expand sales, we faced rising purchase prices and a decline in sales volume. As a result,operating revenue increased ¥8,128 million year on year to ¥127,454 million, and segment income declined ¥10 million year on year to¥1,882 million.
Life Support(Unit: Millions of Yen)

Operating revenue
Segment income

Nine months ended
December 31, 2022
27,746Nine months ended
December 31, 2023
35,361

245

996

Change

%
7,615

27.4

751

306.2

Owing to the contribution of revenue from M&A and initiatives such as price revisions, operating revenue increased ¥7,615 million year
on year to ¥35,361 million, and segment income rose ¥751 million year on year to ¥996 million.
Business Support(Unit: Millions of Yen)

Operating revenue
Segment income

Nine months ended
December 31, 2022
7,879

Nine months ended
December 31, 2023
10,362839

1,610

Change

%
2,483

31.5

771

91.9

We strived to expand sales and achieve recovery in the hotel business among other initiatives. As a result, operating revenue increased¥2,483 million year on year to ¥10,362 million, and segment income rose ¥771 million year on year to ¥1,610 million.

2

Manufacturing(Unit: Millions of Yen)
Nine months ended
December 31, 2022
Operating revenue–

Nine months ended
December 31, 2023
36,932

Segment income–

816

Change%36,932–

816–

Results for CHUO KAGAKU CO., LTD., which is a manufacturer of food packaging and containers and was made a consolidated
subsidiary during the previous fiscal year, were operating revenue of ¥36,932 million and operating profit of ¥816 million.
With the inclusion of CHUO KAGAKU CO., LTD. into the scope of consolidation, we added the Manufacturing segment in the fourth
quarter of the fiscal year ended March 31, 2023. As a result, year-on-year changes are not presented.
(2) Financial condition
Assets, liabilities and net assets
Total assets
Total assets as of December 31, 2023 were ¥637,876 million, ¥56,025 million higher than at the end of the previous fiscal year.
Current assets amounted to ¥227,432 million, up ¥25,659 million from the end of the previous fiscal year. This was mainly due toincreases of ¥9,949 million in cash and deposits, ¥13,433 million in trade notes and accounts receivable, and contract assets, ¥1,299
million in electronically recorded monetary claims - operating and ¥1,209 million in other current assets.
Non-current assets totaled ¥410,443 million, up ¥30,366 million from the end of the previous fiscal year. This was primarily due toincreases of ¥22,384 million in property, plant and equipment, ¥3,513 million in intangible assets, and ¥4,468 million in investments andother assets.
Liabilities
Liabilities as of December 31, 2023 increased ¥35,312 million from the end of the previous fiscal year to ¥438,059 million.
Current liabilities totaled ¥173,796 million, up ¥8,439 million from the end of the previous fiscal year. This was mainly due to increases of¥4,404 million in trade notes and accounts payable, ¥4,075 million in short-term borrowings and ¥2,111 million in other current liabilities
despite decreases of ¥1,383 million in income taxes payable and ¥2,739 million in provision for bonuses.
Non-current liabilities totaled ¥264,263 million, up ¥26,873 million from the end of the previous fiscal year. This was mainly due toincreases of ¥24,968 million in long-term borrowings and ¥1,116 million in deferred tax liabilities.
Net assets
Net assets as of December 31, 2023 rose ¥20,712 million from the end of the previous fiscal year to ¥199,816 million. This was primarily
due to increases of ¥9,540 million in retained earnings, ¥1,481 million in treasury shares, ¥2,509 million in foreign currency translation
adjustment, and ¥6,727 million in non-controlling interests. The equity ratio as of December 31, 2023 decreased by 0.2 percentage
points to 27.4% from the end of the previous fiscal year.
(3) Forecast for the full-term of the fiscal year ending March 31, 2024
No revisions have been made to the forecast of consolidated operating results for the fiscal year ending March 31, 2024, announced in“Summary of Financial Statements for the Second Quarter of the Fiscal Year Ending March 31, 2024” on November 13, 2023.

3

2.

Consolidated Financial Statements(1) Consolidated balance sheets(Unit: Millions of Yen)
As of March 31, 2023

As of December 31, 2023

AssetsCurrent assets
Cash and deposits

58,583

68,533

Trade notes and accounts receivable, and contract
assets97,197

110,630

Electronically recorded monetary claims - operating

4,476

5,775

Merchandise and finished goods

20,197

20,176909

847

Raw materials and supplies

3,136

3,011

Other

17,332

18,541(59)(85)

201,773

227,432

Work in process

Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net

111,914

116,492Land

114,478

122,733

Other, net

64,21873,769Total property, plant and equipment

290,612

312,996

Goodwill

11,727

13,889Other

13,553

14,904

Total intangible assets

25,28028,794

20,24821,661Long-term loans receivable

541

660

Retirement benefit asset

10,207

10,972

Guarantee deposits

17,034

18,383

Deferred tax assets

5,571

4,962

Other

11,36012,843

Allowance for doubtful accounts

(780)

(831)

Total investments and other assets

64,18468,653380,077

410,443581,850

637,876

Intangible assets

Investments and other assets
Investment securities

Total non-current assets
Total assets

4

(Unit: Millions of Yen)
As of March 31, 2023

As of December 31, 2023

Liabilities
Current liabilities
Trade notes and accounts payable

56,05860,462

Electronically recorded obligations - operating

11,091

12,171

Short-term borrowings

40,54344,618

Lease liabilities

6,892

7,972

Income taxes payable

5,113

3,729

Provision for bonuses

7,544

4,804

Provision for bonuses for directors (and otherofficers)

420

330

Provision for loss on disaster

170

72

Other

37,521

39,633

Total current liabilities

165,357

173,796

Bonds payable

40,00040,000Convertible-bond-type bonds with share acquisitionrights

22,05422,033Long-term borrowings

124,292

149,261

Lease liabilities

25,022

25,573

Provision for retirement benefits for directors (andother officers)

608

584

Provision for special repairs

256

346

Non-current liabilities

Provision for share awards

494–

Retirement benefit liability

8,479

8,771

Asset retirement obligations

2,044

2,912

Deferred tax liabilities

7,973

9,090

Other

6,163

5,688

237,389

264,263402,747

438,059

Share capital

28,47928,479

Capital surplus

31,31831,260Retained earnings

101,984

111,525

Treasury shares(7,712)(6,230)154,070

165,034

1,668

2,297

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

Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

(2)

(69)

Foreign currency translation adjustment

3,082

5,591

Remeasurements of defined benefit plans

1,690

1,656

Total accumulated other comprehensive income

6,439

9,476

Share acquisition rights

366

351

Non-controlling interests

18,226

24,953

Total net assets

179,103

199,816

581,850

637,876

Total liabilities and net assets5(2) Consolidated statements of (comprehensive) income(Consolidated statements of income)(For the nine months ended December 31, 2022 and 2023)(Unit: Millions of Yen)
Nine months ended
December 31, 2022
(April 1, 2022 – December 31, 2022)

Nine months ended
December 31, 2023
(April 1, 2023 – December 31, 2023)

Operating revenue

515,298582,786

Operating costs

438,622490,685

Operating gross profit

76,676

92,101

Selling, general and administrative expenses

54,88966,718Operating profit

21,78625,382

86

172

Dividend income

191

223

Foreign exchange gains

212

310

Other

1,973

1,881

Total non-operating income

2,463

2,587

1,158

1,666

729

656

1,888

2,322

22,36225,647

Non-operating income
Interest income

Non-operating expenses
Interest expenses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of investment securities

40

288

Compensation income–

246

Gain on sale of non-current assets

143

188

Subsidy income

206

92

–

84

Gain on bargain purchase

1,651

–

Total extraordinary income

2,042

900

Compensation expenses–

320

Loss on withdrawal from business–

287

Loss on sale of shares of subsidiaries andassociates–

143

Loss on tax purpose reduction entry of non-current
assets206

139

Loss on retirement of non-current assets

106

107

–

75

Loss on office withdrawal

136–

Total extraordinary losses

449

1,074

Profit before income taxes

23,95525,474

Income taxes - current

6,296

7,360

Income taxes - deferred

1,832

1,652

Total income taxes

8,129

9,013

Profit15,825

16,460878

1,308

14,94715,152

Surrender value of insurance policies

Extraordinary losses

Expenses related to commemoration for entity
establishment

Profit attributable to non-controlling interests
Profit attributable to owners of parent

6

(Consolidated statements of comprehensive income)(For the nine months ended December 31, 2022 and 2023)(Unit: Millions of Yen)
Nine months ended
December 31, 2022
(April 1, 2022 – December 31, 2022)

Nine months ended
December 31, 2023
(April 1, 2023 – December 31, 2023)

15,825

16,460

Valuation difference on available-for-sale securities

181

656

Deferred gains or losses on hedges

(221)

(87)

Foreign currency translation adjustment

2,900

2,380

Remeasurements of defined benefit plans, net of tax

(96)

(32)

Share of other comprehensive income of entities
accounted for using equity method

987

719

3,751

3,637

19,577

20,098Comprehensive income attributable to owners ofparent18,112

18,189Comprehensive income attributable to noncontrolling interests

1,464

1,909

ProfitOther comprehensive income

Total other comprehensive income
Comprehensive income
Comprehensive income attributable to7