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, 2024
[Japan GAAP]
August 10, 2023
Name of Listed Company:
Code Number:
Representative:
Inquiries:

SENKO Group Holdings Co., Ltd.
Stock Listed on: Tokyo Stock Exchange9069
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: August 14, 2023
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 Three Months Ended June 30, 2023
(1) Consolidated Operating Results (Cumulative)
Operating revenue
Million yen
188,340
165,345

Three months ended June 30, 2023
Three months ended June 30, 2022%
13.9
11.6

(Percentage figures represent year-on-year changes)
Profit attributable toOperating profit
Ordinary profit
owners of parent
Million yen%
Million yen%
Million yen%
7,659
9.8
8,053
8.4
4,571
4.8
6,973
14.5
7,430
16.5
4,363
20.7

(Note) Comprehensive income
Three months ended June 30, 2023: ¥6,229 million (–1.4%)

Three months ended June 30, 2022: ¥6,318 million (47.2%)

Profitper share

Diluted profit
per share
Yen
30.62
29.29

Yen
27.10
25.93

Total assets
Million yen586,178
581,850

Net assets
Million yen
182,753
179,103Three months ended June 30, 2023
Three months ended June 30, 2022
(2) Consolidated Financial Position

As of June 30, 2023
As of March 31, 2023
(Reference) Equity:
As of June 30, 2023: ¥163,896 million

Equity ratio
%
28.0
27.6

Net assets per share
Yen
1,095.75
1,075.69

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

2. Dividends
June 30

September 30
Yen
17.00

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

Annual dividend
December 31
Yen––March 31

TotalYen
17.00

Yen
34.00

19.00

36.00

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%
First half ending September 30, 2023
385,000 15.0
Fiscal year ending March 31, 2024
790,000 13.5
(Note) Change in the forecast made in this period: None

Operating profit
Million yen
13,20029,000%1.213.6(Percentage figures represent year-on-year changes)
Profit attributable toProfit
Ordinary profit
owners of parent
per share
Million yen% Million yen%
Yen
13,000(2.8)
7,600(4.8)
50.89
29,000 10.9
16,7008.9
111.83

Notes(1) Changes in significant subsidiaries during the period (Changes in specified subsidiaries associated with change in scope ofconsolidation): 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 June 30, 2023:

157,070,496 shares

As of March 31, 2023:

157,070,496 shares

7,495,658 shares

As of March 31, 2023:

7,853,758 shares(b) Treasury shares
As of June 30, 2023:(c) Average number of shares (Cumulative)
Three months ended June 30, 2023:

149,321,726 shares

Three months ended June 30, 2022:

148,956,748 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, 2023: 334,566shares; as of March 31, 2023: 334,566 shares) and Performance-linked Stock Compensation Plan for Directors (as of June 30,2023: 316,723 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 June 30, 2023: 4,930,000 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 andassumptions that management believes are reasonable. Actual results may differ significantly from these statements for a number ofreasons. For information about the assumptions used for forecasts and precautions concerning the use of forecasts, please see “Forecastfor the first half period and 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 first half period and 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 ....................................................................................................................... 6Consolidated statements of income
For the three months ended June 30, 2022 and 2023.................................................................................................................... 6Consolidated statements of comprehensive income
For the three months ended June 30, 2022 and 2023.................................................................................................................... 71

1.

Results of Operations and Financial Condition(1) Results of operations
In the three-month period of the fiscal year ending March 31, 2024 (April 1, 2023 to June 30, 2023), although economic activities havebeen normalizing after the infectious disease classification of COVID-19 was changed to Class 5, the outlook for the economic
environment overall continues to be unclear with the protraction of the Ukraine situation and an increasingly frugal mindset due to therising price of goods.
The three-month-period performance was as follows.
(Unit: Millions of Yen)

Operating revenue
Operating profit
Ordinary profit
Profit attributable to owners ofparent

Three months ended
June 30, 2022
165,345

Three months ended
June 30, 2023
188,340

6,973
7,430
4,363

Change%22,994

13.9

7,659
8,053

685
623

9.8
8.4

4,571

208

4.8

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 three-month-period operating revenue by segment was as follows.
Logistics(Unit: Millions of Yen)

Operating revenue
Segment income

Three months ended
June 30, 2022
115,956

Three months ended
June 30, 2023
120,215

6,338

6,184

Change%4,258

3.7(154)(2.4)

Notwithstanding a focus on sales expansion and initiatives to address tariff revisions, together with the contribution of revenue from
M&A, the impact of declining cargo movements was significant. As a result, operating revenue increased ¥4,258 million year on year to¥120,215 million, and segment income fell ¥154 million year on year to ¥6,184 million.
Trading & Commerce(Unit: Millions of Yen)

Operating revenue
Segment income

Three months ended
June 30, 2022
38,667

Three months ended
June 30, 2023
41,288470647

Change%
2,620

6.8

177

37.7

We strived to revise prices and expand sales while facing rising purchase prices. As a result, operating revenue increased ¥2,620 million
year on year to ¥41,288 million, and segment income rose ¥177 million year on year to ¥647 million.
Life Support(Unit: Millions of Yen)

Operating revenue
Segment income

Three months ended
June 30, 2022
8,475

Three months ended
June 30, 2023
11,888265

448

Change%
3,413

40.3

182

68.6

Owing to the contribution of revenue from M&A and initiatives such as price revisions, operating revenue increased ¥3,413 million year
on year to ¥11,888 million, and segment income rose ¥182 million year on year to ¥448 million.
Business Support(Unit: Millions of Yen)

Operating revenue
Segment income

Three months ended
June 30, 2022
2,244

Three months ended
June 30, 2023
3,169

136

387

Change%
924

41.2

251

184.5

We strived to expand sales and achieve recovery in the hotel business. As a result, operating revenue increased ¥924 million year onyear to ¥3,169 million, and segment income rose ¥251 million year on year to ¥387 million.

2Manufacturing(Unit: Millions of Yen)

Operating revenue
Segment income

Three months ended
June 30, 2022–

Three months ended
June 30, 2023
11,701–

169

Change%11,701–

169–

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 ¥11,701 million and operating profit of ¥169 million.
With the inclusion of CHUO KAGAKU CO., LTD. into the scope of consolidation, we added the Manufacturing segment in the fourthquarter 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 June 30, 2023 were ¥586,178 million, ¥4,327 million higher than at the end of the previous fiscal year.
Current assets amounted to ¥197,196 million, down ¥4,576 million from the end of the previous fiscal year. This was mainly due todecreases of ¥3,603 million in cash and deposits and ¥4,338 million in trade notes and accounts receivable, and contract assets despite
increases of ¥1,130 million in electronically recorded monetary claims - operating and ¥1,831 million in other current assets.
Non-current assets totaled ¥388,981 million, up ¥8,904 million from the end of the previous fiscal year. This was primarily due toincreases of ¥6,728 million in property, plant and equipment, ¥928 million in intangible assets, and ¥1,247 million in investments andother assets.
Liabilities
Liabilities as of June 30, 2023 increased ¥677 million from the end of the previous fiscal year to ¥403,425 million.
Current liabilities totaled ¥164,271 million, down ¥1,085 million from the end of the previous fiscal year. This was mainly due todecreases of ¥3,055 million in trade notes and accounts payable, ¥3,377 million in income taxes payable and ¥3,112 million in provision
for bonuses despite increases of ¥5,576 million in short-term borrowings and ¥2,198 million in other current liabilities.
Non-current liabilities totaled ¥239,153 million, up ¥1,763 million from the end of the previous fiscal year. This was mainly due toincreases of ¥760 million in long-term lease liabilities and ¥1,043 million in deferred tax liabilities.
Net assets
Net assets as of June 30, 2023 rose ¥3,649 million from the end of the previous fiscal year to ¥182,753 million. This was primarily due toincreases of ¥1,934 million in retained earnings and ¥655 million in foreign currency translation adjustment. The equity ratio as of June30, 2023 increased by 0.4 percentage points to 28.0% 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, 2024
No revisions have been made to the forecast of consolidated operating results for the first half ending September 30, 2023 and the fiscalyear ending March 31, 2024, announced in “Summary of Financial Statements for the Fiscal Year Ended March 31, 2023” on May 12,2023.

3

2.

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

As of June 30, 2023

AssetsCurrent assets
Cash and deposits

58,58354,980Trade notes and accounts receivable, and contract
assets97,19792,858

Electronically recorded monetary claims - operating

4,476

5,606

Merchandise and finished goods

20,197

20,938909

790

Raw materials and supplies

3,136

2,913

Other

17,332

19,163(59)(56)

201,773

197,196

Work in process

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

111,914

115,843

Land

114,478

116,724

Other, net

64,21864,772

Total property, plant and equipment

290,612297,340

Goodwill

11,727

11,419Other

13,553

14,788

Total intangible assets

25,28026,20820,24821,301Long-term loans receivable

541

558

Retirement benefit asset

10,207

10,435

Guarantee deposits

17,034

17,452

Deferred tax assets

5,571

4,774

Other

11,36011,693

Allowance for doubtful accounts

(780)

(782)

Total investments and other assets

64,18465,432

380,077

388,981581,850

586,178

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 June 30, 2023

Liabilities
Current liabilities
Trade notes and accounts payable

56,05853,002

Electronically recorded obligations - operating

11,091

11,431

Short-term borrowings

40,543

46,120

Lease liabilities

6,892

7,550

Income taxes payable

5,113

1,735

Provision for bonuses

7,544

4,432

Provision for bonuses for directors (and otherofficers)

420

151

Provision for loss on disaster

170

127

Other

37,521

39,719Total current liabilities

165,357

164,271

Bonds payable

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

22,05422,047Long-term borrowings

124,292

124,153

Lease liabilities

25,02225,782

Provision for retirement benefits for directors (andother officers)

608

569

Provision for special repairs

256

293

Non-current liabilities

Provision for share awards

494

494

Retirement benefit liability

8,479

8,454

Asset retirement obligations

2,044

2,610

Deferred tax liabilities

7,973

9,016

Other

6,163

5,731

237,389

239,153

402,747

403,425

Share capital

28,47928,479

Capital surplus

31,31831,304Retained earnings

101,984

103,919

Treasury shares(7,712)(7,359)Total shareholders’ equity

154,070

156,343

1,668

2,024

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

Accumulated other comprehensive incomeValuation difference on available-for-sale securities
Deferred gains or losses on hedges

(2)

95

Foreign currency translation adjustment

3,082

3,737

Remeasurements of defined benefit plans

1,690

1,694

Total accumulated other comprehensive income

6,439

7,552

Share acquisition rights

366

352

Non-controlling interests

18,226

18,504

Total net assets

179,103

182,753

581,850

586,178

Total liabilities and net assets5(2) Consolidated statements of (comprehensive) income(Consolidated statements of income)(For the three months ended June 30, 2022 and 2023)(Unit: Millions of Yen)
Three months ended
June 30, 2023
(April 1, 2023 – June 30, 2023)

Three months ended
June 30, 2022
(April 1, 2022 – June 30, 2022)
Operating revenue

165,345

188,340

Operating costs

141,037

158,660

Operating gross profit

24,307

29,680

Selling, general and administrative expenses

17,33422,020Operating profit

6,973

7,659

23

49

Dividend income

92

106

Foreign exchange gains

202

296

Other

625

634

Total non-operating income

944

1,088

Interest expenses

344

522

Other

142

170

Total non-operating expenses

487

693

7,430

8,053

Gain on sale of investment securities–

153

Surrender value of insurance policies–

81

Gain on sale of non-current assets

73

37

Subsidy income

206–

Total extraordinary income

280

271

Expenses related to commemoration for entityestablishment–

52

Loss on retirement of non-current assets

6550

Loss on tax purpose reduction entry of non-current
assets206–

Total extraordinary losses

271103

Profit before income taxes

7,438

8,222

Income taxes - current

1,266

1,597

Income taxes - deferred

1,552

1,680

Total income taxes

2,819

3,278

Profit

4,619

4,944

255

372

4,363

4,571

Non-operating income
Interest income

Non-operating expenses

Ordinary profit
Extraordinary income

Extraordinary losses

Profit attributable to non-controlling interests
Profit attributable to owners of parent6

(Consolidated statements of comprehensive income)(For the three months ended June 30, 2022 and 2023)(Unit: Millions of Yen)
Three months ended
June 30, 2022
(April 1, 2022 – June 30, 2022)
ProfitThree months ended
June 30, 2023
(April 1, 2023 – June 30, 2023)

4,619

4,944

Valuation difference on available-for-sale securities

46378

Deferred gains or losses on hedges

61108

1,634

774

(43)

21

–

2

1,698

1,285

6,318

6,229

5,721

5,684

596

545

Other comprehensive income

Foreign currency translation adjustmentRemeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable to noncontrolling interests7