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 First Quarter of the Fiscal Year Ending March 31, 2025
[Japan GAAP]
August 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: Shinzo Yoshimura
Tel. (03) 6862-8842

Scheduled Date of Dividend Paid:
Supplemental Information Materials:
Information Meeting for Financial Results:

–

Yes
None
(Amounts less than ¥1 million have been rounded down)

1. Consolidated Operating Results for the Three Months Ended June 30, 2024
(1) Consolidated Operating Results (Cumulative)
Operating revenue
Million yen
200,819
188,340Three months ended June 30, 2024
Three months ended June 30, 2023

%
6.6
13.9

(Percentage figures represent year-on-year changes)
Profit attributable toOperating profit
Ordinary profit
owners of parent
Million yen%
Million yen%
Million yen
%
8,598
12.3
8,808
9.4
5,174
13.2
7,659
9.8
8,053
8.4
4,571
4.8

(Note) Comprehensive income
Three months ended June 30, 2024: ¥7,191 million (15.4%)

Three months ended June 30, 2023: ¥6,229 million (-1.4%)

Profitper share

Diluted profit
per share
Yen
34.61
30.62

Yen
30.61
27.10

Total assets
Million yen
681,045685,120

Net assets
Million yen
208,012204,186

Three months ended June 30, 2024
Three months ended June 30, 2023
(2) Consolidated Financial Position

As of June 30, 2024
As of March 31, 2024
(Reference) Equity:
As of June 30, 2024: ¥182,700 million

Equity ratio
%
26.8
26.2

Net assets per shareYen
1,220.75
1,197.13

As of March 31, 2024: ¥179,208 million

2. Dividends
June 30

September 30
Yen
19.00

Yen
Fiscal year ended March 31, 2024–
Fiscal year ending March 31, 2025–
Fiscal year ending March 31, 2025
21.00
(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
19.00

Yen
38.00

21.00

42.00

3. Forecast of Consolidated Operating Results for the Fiscal Year Ending March 31, 2025 (From April 1, 2024 to March 31, 2025)

First half ending September 30, 2024
Fiscal year ending March 31, 2025

Operating revenue

Operating profit

Million yen
412,000
850,000

Million yen
15,30034,000%8.5
9.2(Note) Change in the forecast made in this period: None

%
3.6
13.7

(Percentage figures represent year-on-year changes)
Profit attributable toProfitOrdinary profit
owners of parent
per share
Million yen% Million yen%
Yen
15,300
2.3
8,900
0.5
59.53
33,4009.5
18,00012.9
120.40Notes(1) Significant changes in the scope of consolidation during the period: Yes
Newly included: 1 company (Company name) OPLUS inc.
(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: Yes(b) Changes other than in (a): None(c) Changes in accounting estimates: Yes(d) Retrospective restatement: None
(4) Shares outstanding (Common shares)(a) Shares outstanding (including treasury shares)
As of June 30, 2024:

157,070,496 shares

As of March 31, 2024:

157,070,496 shares

7,407,518 shares

As of March 31, 2024:

7,372,422 shares(b) Treasury shares
As of June 30, 2024:(c) Average number of shares (Cumulative)
Three months ended June 30, 2024:

149,489,444 shares

Three months ended June 30, 2023:

149,321,726 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 June 30, 2024: 805,545
shares; as of March 31, 2024: 805,545 shares) and Performance-linked Stock Compensation Plan for Directors (as of June 30,
2024: 788,972 shares; as of March 31, 2024: 788,972 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 June 30, 2024: 3,744,100 shares; as of March 31, 2024: 4,055,700 shares).
Review of the Japanese-language originals of the attached quarterly consolidated financial statements by certified public accountants or an audit
corporation: None
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 first half period and the full-term of the fiscal year ending March 31, 2025” on page 3.

The supplementary material on financial results will be available on the Company’s website.

Index to accompanying materials

1. Overview of Operating Results and Others ................................................................................................................................................. 2(1) Overview of results of operations in the three months ended June 30, 2024 ................................................................................... 2(2) Overview of financial position in the three months ended June 30, 2024 ......................................................................................... 3(3) Forecast for the first half period and the full-term of the fiscal year ending March 31, 2025 ............................................................ 3
2. Consolidated Financial Statements ............................................................................................................................................................. 4(1) Consolidated balance sheets .............................................................................................................................................................. 4(2) Consolidated statements of (comprehensive) income ....................................................................................................................... 6
Consolidated statements of income
For the three months ended June 30, 2023 and 2024.................................................................................................................... 6
Consolidated statements of comprehensive income
For the three months ended June 30, 2023 and 2024.................................................................................................................... 71

1.

Overview of Operating Results and Others(1) Overview of results of operations in the three months ended June 30, 2024
In the three-month period of the fiscal year ending March 31, 2025 (April 1, 2024 to June 30, 2024), although the economic environment
showed a gradual recovery trend, mainly against the backdrop of improvement in corporate earnings and rising demand from inboundtourism, the outlook continues to be unclear due to fluctuations in exchange rates, the situation in the Middle East region, the slowdown
in the Chinese economy, an increasingly frugal mindset due to the rising price of goods, and other factors.
The three-month-period performance was as follows.
(Unit: Millions of Yen)

Operating revenue

Three months ended
June 30, 2023
188,340Three months ended
June 30, 2024
200,819

7,659
8,053
4,571

Operating profit
Ordinary profit
Profit attributable to owners ofparentChange%12,479

6.6

8,598
8,808

939
754

12.3
9.4

5,174

602

13.2

Despite the ongoing unstable business environment caused mainly by continuing rising costs, such as prices of goods and personnel
expenses, the Group achieved year-on-year increases in operating revenue, operating profit, ordinary profit and profit attributable toowners of parent due to group-wide efforts to expand sales and revise tariffs and prices as well as due to the contribution of revenue
from M&A conducted in the previous fiscal year and other factors.
The three-month-period operating revenue by segment was as follows.
Logistics(Unit: Millions of Yen)

Operating revenue

Three months ended
June 30, 2023
120,215

Three months ended
June 30, 2024
128,197

6,184

7,963

Segment income

Change

%
7,981

6.6

1,779

28.8

A focus on sales expansion and initiatives to address tariff revisions, together with the contribution of revenue from M&A conducted in theprevious fiscal year, caused operating revenue to increase ¥7,981 million year on year to ¥128,197 million, and segment income rose
¥1,779 million year on year to ¥7,963 million.
Trading & Commerce(Unit: Millions of Yen)

Operating revenue
Segment income

Three months ended
June 30, 2023
41,288Three months ended
June 30, 2024
42,689647

602

Change

%
1,401

3.4

(45)

(6.9)

Although we strived to revise prices and expand sales, we faced rising purchase prices. As a result, operating revenue increased ¥1,401
million year on year to ¥42,689 million, and segment income declined ¥45 million year on year to ¥602 million.
Life Support(Unit: Millions of Yen)

Operating revenue
Segment income

Three months ended
June 30, 2023
11,888Three months ended
June 30, 2024
15,534448

468

Change

%
3,645

30.7

20

4.6

Owing to the contribution of revenue from M&A conducted in the previous fiscal year, the impact of the increase in the number of users
and the number of customers visiting stores mainly due to the effect of opening new stores, and other factors, operating revenue
increased ¥3,645 million year on year to ¥15,534 million, and segment income rose ¥20 million year on year to ¥468 million.

2

Business Support(Unit: Millions of Yen)

Operating revenue
Segment income

Three months ended
June 30, 2023
3,169

Three months ended
June 30, 2024
3,153

387

549

Change

%
(15)

(0.5)

161

41.7

Although we strived to expand sales and achieve recovery in the hotel business among other initiatives, the decrease in revenue in theshared service business and other factors had an impact. As a result, operating revenue decreased ¥15 million year on year to ¥3,153
million, and segment income rose ¥161 million year on year to ¥549 million.
Manufacturing(Unit: Millions of Yen)

Operating revenue
Segment income (loss)

Three months ended
June 30, 2023
11,701Three months ended
June 30, 2024
11,141

169(191)

Change

%
(560)

(4.8)

(360)

–

Due to the impact of a decrease in sales volume, which was mainly caused by an increasingly frugal mindset due to the rising price ofgoods, as well as due to rising purchase prices for raw materials and other factors, operating revenue decreased ¥560 million year on
year to ¥11,141 million, and segment income fell ¥360 million year on year to record a segment loss of ¥191 million.
(2) Overview of financial position in the three months ended June 30, 2024
Assets, liabilities and net assets
Total assets
Total assets as of June 30, 2024 were ¥681,045 million, ¥4,075 million lower than at the end of the previous fiscal year.
Current assets amounted to ¥221,994 million, down ¥17,872 million from the end of the previous fiscal year. This was mainly due todecreases of ¥16,134 million in cash and deposits and ¥4,183 million in trade notes and accounts receivable, and contract assets
despite increases of ¥719 million in electronically recorded monetary claims - operating and ¥1,235 million in other current assets.
Non-current assets totaled ¥459,050 million, up ¥13,796 million from the end of the previous fiscal year. This was primarily due toincreases of ¥9,431 million in property, plant and equipment, ¥3,168 million in intangible assets, and ¥1,196 million in investments andother assets.
Liabilities
Liabilities as of June 30, 2024 decreased ¥7,901 million from the end of the previous fiscal year to ¥473,032 million.
Current liabilities totaled ¥194,982 million, down ¥21,201 million from the end of the previous fiscal year. This was mainly due todecreases of ¥2,299 million in trade notes and accounts payable, ¥10,661 million in short-term borrowings, ¥5,069 million in income
taxes payable and ¥3,568 million in provision for bonuses.
Non-current liabilities totaled ¥278,050 million, up ¥13,299 million from the end of the previous fiscal year. This was mainly due toincreases of ¥13,019 million in long-term borrowings and ¥917 million in deferred tax liabilities, despite a decrease of ¥1,275 million in
long-term lease liabilities.
Net assets
Net assets as of June 30, 2024 rose ¥3,825 million from the end of the previous fiscal year to ¥208,012 million. This was primarily due toincreases of ¥2,222 million in retained earnings and ¥1,343 million in foreign currency translation adjustment. The equity ratio as of June30, 2024 increased by 0.6 percentage points to 26.8% from the end of the previous fiscal year.
(3) Forecast for the first half period and the full-term of the fiscal year ending March 31, 2025
No revisions have been made to the forecast of consolidated operating results for the first half ending September 30, 2024 and the fiscal
year ending March 31, 2025, announced in “Summary of Financial Statements for the Fiscal Year Ended March 31, 2024” on May 13,
2024.

3

2.

Consolidated Financial Statements(1) Consolidated balance sheets(Unit: Millions of Yen)
As of March 31, 2024

As of June 30, 2024

AssetsCurrent assets
Cash and deposits

81,63765,502

Trade notes and accounts receivable, and contract
assets110,742

106,558

Electronically recorded monetary claims - operating

5,417

6,136

Merchandise and finished goods

19,231

19,819780

935

Raw materials and supplies

3,060

2,810

Other

19,081

20,316(83)(83)

239,866

221,994

Work in process

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

118,947

123,922Land

124,096

126,004

Other, net

87,75090,298

Total property, plant and equipment

330,795

340,226

Goodwill

24,07926,352

Other

14,33015,225

Total intangible assets

38,40941,57822,27622,389Long-term loans receivable

669

672

Retirement benefit asset

17,907

18,179

Guarantee deposits

18,566

19,129Deferred tax assets

5,914

5,136

Other

11,613

12,654

Allowance for doubtful accounts

(899)

(917)

Total investments and other assets

76,04877,245445,254459,050

685,120

681,045

Intangible assets

Investments and other assets
Investment securities

Total non-current assets
Total assets

4

(Unit: Millions of Yen)
As of March 31, 2024

As of June 30, 2024

Liabilities
Current liabilities
Trade notes and accounts payable

60,47858,178

Electronically recorded obligations - operating

11,65011,726

Current portion of convertible-bond-type bonds withshare acquisition rights

22,02622,019

Short-term borrowings

53,44842,786

Lease liabilities

9,907

9,798

Income taxes payable

7,733

2,664

Provision for bonuses

8,605

5,036

Provision for bonuses for directors (and otherofficers)

423

118

Provision for loss on disaster

48

48

Other

41,86042,604

Total current liabilities

216,183

194,982

Bonds payable

40,00040,000Long-term borrowings

161,716

174,735

Lease liabilities

33,81532,540

Provision for retirement benefits for directors (andother officers)

480

980

Provision for special repairs

255

266

Provision for share awards

363

363

Non-current liabilities

Retirement benefit liability

8,741

8,761

Asset retirement obligations

2,987

3,033

Deferred tax liabilities

10,677

11,594

Other

5,714

5,775

264,750

278,050

480,934

473,032

Share capital

28,47928,479

Capital surplus

31,28331,286

Retained earnings

112,317

114,540

Treasury shares(7,421)(7,514)

164,659

166,791

2,995

3,071

88

120

Foreign currency translation adjustment

5,256

6,600

Remeasurements of defined benefit plans

6,207

6,117

Total accumulated other comprehensive income

14,54815,909

Share acquisition rights

351

347

Non-controlling interests

24,627

24,964

Total net assets

204,186

208,012685,120

681,045

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

Total liabilities and net assets5(2) Consolidated statements of (comprehensive) income(Consolidated statements of income)(For the three months ended June 30, 2023 and 2024)(Unit: Millions of Yen)
Three months ended
June 30, 2023
(April 1, 2023 – June 30, 2023)

Three months ended
June 30, 2024
(April 1, 2024 – June 30, 2024)

Operating revenue

188,340

200,819

Operating costs

158,660

168,601

Operating gross profit

29,68032,218Selling, general and administrative expenses

22,02023,619Operating profit

7,659

8,598

49

70

Non-operating income
Interest income
Dividend income

106

122

Foreign exchange gains

296

269

Other

634

608

1,088

1,071

Interest expenses

522

650

Other

170

211

Total non-operating expenses

693

861

8,053

8,808

Total non-operating income
Non-operating expenses

Ordinary profit
Extraordinary income
Subsidy income–

491

Gain on sale of non-current assets

37

268

Gain on sale of investment securities

153–

Surrender value of insurance policies

81–

Total extraordinary income

271

759

Loss on tax purpose reduction entry of non-current
assets–491

Expenses related to commemoration for entity
establishment

52–

Loss on retirement of non-current assets

50–

Total extraordinary losses

103

491

Profit before income taxes

8,222

9,077

Income taxes - current

1,597

1,679

Income taxes - deferred

1,680

1,862

Total income taxes

3,278

3,541

Profit

4,944

5,535

372

361

4,571

5,174

Extraordinary losses

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

6

(Consolidated statements of comprehensive income)(For the three months ended June 30, 2023 and 2024)(Unit: Millions of Yen)
Three months ended
June 30, 2023
(April 1, 2023 – June 30, 2023)

Three months ended
June 30, 2024
(April 1, 2024 – June 30, 2024)

4,944

5,535

Valuation difference on available-for-sale securities

378

66

Deferred gains or losses on hedges

108

30

Foreign currency translation adjustment

774

1,243

Remeasurements of defined benefit plans, net of tax

21

(82)

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

2

397

1,285

1,656

6,229

7,191

5,684

6,534

545

656

ProfitOther comprehensive income

Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to noncontrolling interests

7