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.

July 29, 2024

Consolidated Financial Results for
the First Three Months of the Fiscal Year Ending March 31, 2025
(Under Japanese GAAP)
Company name:
Konishi Co., Ltd.
Listing:
Tokyo Stock Exchange
Securities code:
4956
URL:
https://www.bond.co.jp/
Representative:
Hirofumi Matsubata, Representative Director and President
Inquiries:
Shinichi Okamoto, Director and Managing Executive Officer
Telephone:+81-6-6228-2877
Scheduled date to commence dividend payments:
Preparation of supplementary material on financial results:
None
Holding of financial results briefing:
None(Yen amounts are rounded down to millions, unless otherwise noted.)
1. Consolidated financial results for the first three months of the fiscal year ending March 31, 2025 (from
April 1, 2024, to June 30, 2024)(Percentages indicate year-on-year changes.)(1) Consolidated operating results (cumulative)
Net sales

Operating profit

Millions of yen%
Millions of yen%
First three months ended
June 30, 2024
32,267
1.3
2,122
(3.7)
June 30, 2023
31,844
14.9
2,202
75.3
Note: Comprehensive income
First three months ended June 30, 2024
First three months ended June 30, 2023

Basic earnings per share

Profit attributable toowners of parent

Ordinary profit
Millions of yen%

Millions of yen

2,359
(2.4)
2,416
61.5
¥1,850 million [(26.1%)]¥2,502 million [127.8%]

1,528
1,586

%

(3.7)
67.7

Diluted earnings
per share

Yen
YenFirst three months ended
June 30, 2024
23.14
June 30, 2023
22.65
Note: The Company conducted a stock split at a ratio of two shares for one common share with an effective date of January 1, 2024.
“Basic earnings per share” is calculated based on the assumption that the stock split was conducted at the beginning of the
fiscal year ended March 31, 2024.

(2) Consolidated financial position
Total assets
As of June 30, 2024
As of March 31, 2024
Reference:

EquityAs of June 30, 2024
As of March 31, 2024

Net assets

Equity-to-asset ratio

Millions of yen

Millions of yen%

139,342
140,850

85,16384,68560.8
56.6¥84,769 million¥79,670 million

2. Cash dividends
Annual dividends per shareFirst quarter-end

Second quarter-end Third quarter-end

Yen

Yen

Fiscal year-end

Yen

Total

Yen

Yen

Fiscal year ended
27.00
19.50
March 31, 2024
Fiscal year ending
March 31, 2025
Fiscal year ending
16.50
16.50
33.00
March 31, 2025 (forecast)
Notes: 1. Revisions to the forecasts of cash dividends most recently announced: None
2. The Company conducted a stock split at a ratio of two shares for one common share with an effective date of January 1,
2024. Regarding dividends by the third quarter of the fiscal year ended March 31, 2024, the actual dividend amount before
the stock split is stated. The full-year dividend per share for the fiscal year ended March 31, 2024, is not presented due tothe stock split.

3. Consolidated earnings forecasts for the fiscal year ending March 31, 2025 (from April 1, 2024, to March
31, 2025)(Percentages indicate year-on-year changes.)
Net sales
Millions ofyenOperating profit%

Millions ofyenProfit attributable toowners of parent

Ordinary profit%

Millions ofyen%Millions ofyen%

Basic earnings
per share
Yen

Six months ending
66,500
1.8
4,600
(6.9)
4,800
(7.8)
3,100
(8.7)
45.16
September 30, 2024
Fiscal year ending
139,000
4.5
10,7004.0
11,000
1.8
7,400
0.8
107.81March 31, 2025
Notes: 1. Revisions to the consolidated earnings forecasts most recently announced: None
2. The Company conducted a share exchange on June 30, 2024, making the Company’s consolidated subsidiaries, Sunrise
Corporation, Maruyasu & Co., Ltd., and Konishi Kouei Co., Ltd., wholly owned subsidiaries, and allocated 3,460,356
shares of treasury shares. “Basic earnings per share” is calculated based on the number of shares as of June 30, 2024.

* Notes(1) Significant changes in scope of consolidation during the period: None
Newly included:
0 companies
Excluded:
0 companies(2) Application of special accounting for preparing quarterly consolidated financial statements: None
(3) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: None(ii) Changes in accounting policies other than (i): None(iii) Changes in accounting estimates: None(iv) Restatement: None
(4) Number of issued shares (common shares)(i) Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2024
As of March 31, 2024

70,414,880 shares
70,414,880 shares(ii) Number of treasury shares at the end of the period
As of June 30, 2024
As of March 31, 2024

1,776,722 shares
5,237,078 shares(iii) Average number of shares outstanding during the period
As of June 30, 2024
As of June 30, 2023

66,042,891 shares
70,037,178 shares

Notes: 1. The Company conducted a stock split at a ratio of two shares for one common share with aneffective date of January 1, 2024. The total number of issued shares at the end of the period, thenumber of treasury shares at the end of the period, and the average number of shares outstanding
during the period are calculated based on the assumption that the stock split was conducted at the
beginning of the fiscal year ended March 31, 2024.
2. Based on the resolution of the Board of Directors meeting held on May 22, 2024, the Company
conducted a share exchange on June 30, 2024, making the Company’s consolidated subsidiaries,
Sunrise Corporation, Maruyasu & Co., Ltd., and Konishi Kouei Co., Ltd., wholly owned
subsidiaries, and allocated 3,460,356 shares of treasury shares.
*

Review of the Japanese-language originals of the attached consolidated quarterly financial statements bycertified public accountants or an audit firm: None*

Proper use of earnings forecasts, and other special matters
Forward-looking statements, including the earnings forecasts stated in these materials, are based on
information currently available to the Company and certain assumptions deemed reasonable. Results may
differ materially from the earnings forecasts due to various factors. For the assumptions used as the basis forthe earnings forecasts and special remarks regarding the use of the earnings forecasts, please refer to “(3)Explanation of consolidated earnings forecasts and other forward-looking statements” in “1. Overview ofoperating results, etc.” on page 3 (Attached Material).

Index1.

Overview of operating results, etc. ................................................................................................................. 2(1) Overview of operating results for the first three months ................................................................................ 2(2) Overview of financial position for the first three months ............................................................................... 3(3) Explanation of consolidated earnings forecasts and other forward-looking statements ................................. 3

2.

Quarterly consolidated financial statements and significant notes thereto ..................................................... 4(1) Quarterly consolidated balance sheet.............................................................................................................. 4(2) Quarterly consolidated statement of income (cumulative) and quarterly consolidated statement ofcomprehensive income (cumulative) .............................................................................................................. 6(3) Notes to quarterly consolidated financial statements ...................................................................................... 8(Notes on premise of going concern) ............................................................................................................... 8(Notes on significant changes in the amount of shareholders’ equity) ............................................................ 8(Notes on quarterly consolidated statement of cash flows).............................................................................. 8(Notes on segment information, etc.) ............................................................................................................... 8-1-

1. Overview of operating results, etc.
(1) Overview of operating results for the first three months
During the three months ended June 30, 2024, the Japanese economy showed a moderate recovery trend. Thiswas due to improved employment and income conditions, which led to a turnaround in personal consumption;and solid corporate earnings driven by inbound demand and increased exports. On the other hand, the economic
outlook remains uncertain due to monetary tightening, mainly in Europe and the U.S., a slowdown in the
Chinese economy, soaring resource prices, and the impact of higher prices due to the ongoing yen depreciation.
In this business environment, the Group has launched its newly formulated “Medium-Term Management Plan
2027 (Fiscal Year Ending March 2025 to Fiscal Year Ending March 2027).” Based on this plan, the Group will
strengthen new business development through the introduction of new products, further focus on growth areas,
and make the largest-ever capital investments in production, logistics, and DX-related areas. The Group
promotes the Medium-Term Management Plan to expand its business further and improve management
efficiency through these efforts.
As a result, the Group’s operating results for the first three months under review were as follows. Net sales
increased 1.3% year on year to 32,267 million yen, operating profit decreased 3.7% year on year to 2,122 million
yen, ordinary profit was down 2.4% year on year to 2,359 million yen, and profit attributable to owners of parent
fell 3.7% year on year to 1,528 million yen.
Results by segment are as follows.

(i)

Bond
In the general household field, sales through home improvement stores and convenience stores remained
steady. In the housing-related field, market development through introducing new water-based adhesives
for building materials is progressing. However, sales of existing products, such as adhesives and sealants
for interior work, decreased due to a decline in the number of new housing starts caused by rising
construction costs. In the industrial material field, sales increased due to strong overall sales of elastic
adhesives used in automobiles/electronic components that are developing new customers and water-based
adhesives used in paper-related applications, etc. In the civil engineering and construction field, sales ofsealing materials for construction and materials used in construction methods for preventing flaking
increased in line with an increase in renovation projects.
As a result of the above, net sales grew 1.3% year on year to 17,672 million yen and operating profit
increased 2.9% year on year to 1,491 million yen.

(ii) Chemicals
In the chemical engineering field, sales of resin raw materials decreased due to the slowdown in China’s
economy. In the automobile field, sales decreased due to price reductions, etc. On the other hand, profits
increased due to factors such as adopting new products.
In the electronics and electrical appliance field, sales of related products increased due to the horizontal
deployment of products for smartphones to new models and strong sales of heat dissipation-related
products. Regarding Maruyasu & Co., Ltd., sales of products for use in semiconductor manufacturing
decreased.
As a result of the above, net sales decreased 0.4% year on year to 9,442 million yen and operating profit
rose 32.4% year on year to 389 million yen.
(iii) Construction
In the Construction Business, sales of repair, improvement, and reinforcement works in the infrastructureand (housing) stock markets, particularly for public works, increased. However, profits decreased due tofewer completions. Order activities during the period under review remained steady.
As a result of the above, net sales increased 4.8% year on year to 5,108 million yen and operating profit-2-

fell 51.2% year on year to 207 million yen.
(iv) OtherThe Other segment represents the Real Estate Rental Business, etc. Net sales decreased 1.0% year on year
to 43 million yen and operating profit increased 47.3% year on year to 38 million yen.
(2) Overview of financial position for the first three months
Assets, liabilities and net assets
Total assets as of June 30, 2024, decreased 1,508 million yen from the previous fiscal year-end to 139,342
million yen.

(i)

AssetsCurrent assets dropped 3,270 million yen from the previous fiscal year-end to 89,355 million yen, mainly
due to a decrease of 2,731 million yen in notes and accounts receivable - trade, and contract assets, and adrop of 982 million yen in electronically recorded monetary claims - operating, despite an increase of 1,180
million yen in cash and deposits. Non-current assets grew 1,761 million yen from the previous fiscal yearend to 49,986 million yen, mainly due to an increase of 1,302 million yen in property, plant and equipment.

(ii) Liabilities
Current liabilities were down 2,390 million yen from the previous fiscal year-end to 46,753 million yen,mainly due to a decrease of 1,363 million yen in notes and accounts payable - trade, and a decrease of 769
million yen in provision for bonuses. Non-current liabilities grew 403 million yen from the previous fiscal
year-end to 7,424 million yen mainly due to an increase of 382 million yen in other.
(iii) Net assets
Net assets were up 478 million yen from the previous fiscal year-end to 85,163 million yen, mainly due toan increase of 1,599 million yen in capital surplus, and a decrease of 3,042 million yen in treasury shares,
an item that reduces net assets, despite a decrease of 4,620 million yen in non-controlling interests.
(3) Explanation of consolidated earnings forecasts and other forward-looking statements
There are currently no changes to the earnings forecast announced on April 25, 2024.

-3-

2.

Quarterly consolidated financial statements and significant notes thereto(1) Quarterly consolidated balance sheet(Millions of yen)
As of March 31, 2024
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, andcontract assets
Electronically recorded monetary claims operating
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
Intangible assets
Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets-4-

As of June 30, 2024

26,651

27,831

36,39033,65916,95815,976

9,415
281
1,537
1,445
(54)
92,625

8,947
326
1,565
1,078
(29)
89,35529,715
1,978

31,0182,344

11,402
5,145(17)
16,53048,224140,850

11,5765,065(18)
16,62349,986
139,342(Millions of yen)
As of March 31, 2024
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 (andother officers)
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
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-salesecurities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive
incomeNon-controlling interests
Total net assets
Total liabilities and net assets-5-

As of June 30, 2024

37,21835,854

4,072

3,986

50
42
1,087
1,411

48
41
447
642

155

33

5,105
49,144

5,699
46,753

76
714
6,229
7,020
56,165

67
744
6,612
7,424
54,178

4,603
4,422
67,314(4,604)71,735

4,603
6,021
67,572(1,562)
76,635

4,687

4,760

650
2,597

(0)
832
2,540

7,934

8,134

5,014
84,685140,850394
85,163
139,342(2) Quarterly consolidated statement of income (cumulative) and quarterly consolidated statement ofcomprehensive income (cumulative)
Quarterly consolidated statement of income (cumulative)(Millions of yen)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Foreign exchange gains
Share of profit of entities accounted for using
equity method
Other
Total non-operating income
Non-operating expenses
Interest expenses
Depreciation
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Total extraordinary income
Extraordinary losses
Loss on disposal of non-current assets
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

Three months ended
June 30, 2023
31,84425,554
6,289
4,087
2,202

Three months ended
June 30, 2024
32,26726,043
6,224
4,102
2,122

2
110
72

3
130
63

9

8

40
235

46
252

2
12
5
20
2,416

2
6
5
14
2,359

0
0

1
1

25
25
2,391
380
332
713
1,678
92
1,586

33
33
2,328
375
325
701
1,626
98
1,528

-6-

Quarterly consolidated statement of comprehensive income (cumulative)(Millions of yen)

ProfitOther comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, netof taxShare of other comprehensive income ofentities accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to ownersof parent
Comprehensive income attributable to noncontrolling interests

Three months ended
June 30, 2023
1,678

Three months ended
June 30, 2024
1,626

755

75

0
72

(0)
179

(33)

(56)

29

25

824
2,502

223
1,850

2,331

1,727

171

122

-7-

(3) Notes to quarterly consolidated financial statements(Notes on premise of going concern)
Not applicable.
(Notes on significant changes in the amount of shareholders’ equity)
Based on the resolution of the Board of Directors meeting held on May 22, 2024, the Company conducted ashare exchange, effective June 30, 2024, making the Company’s consolidated subsidiaries, Sunrise Corporation,
Maruyasu & Co., Ltd., and Konishi Kouei Co., Ltd., wholly owned subsidiaries, and allocated 3,460,356 sharesof the Company’s treasury shares. As a result, capital surplus increased by 1,599 million yen, and treasury shares
decreased by 3,042 million yen. Capital surplus was 6,021 million yen, and treasury shares was 1,562 million
yen as of June 30, 2024.
(Notes on quarterly consolidated statement of cash flows)
Quarterly consolidated statement of cash flows has not been prepared for the first three months ended June 30,2024. Depreciation expenses (including amortization expenses pertaining to intangible assets excluding
goodwill) and amortization of goodwill pertaining to the first three months of the accounting period are as
follows.
Three months ended
June 30, 2023
Depreciation
Amortization of goodwill

Three months ended
June 30, 2024

¥426 million¥31 million¥464 million¥32 million(Notes on segment information, etc.)[Segment information]
1.

Disclosure of net sales and profit or loss by reportable segment
Three months ended June 30, 2023
(Millions of yen)
Reportable segment
Bond

Chemicals Construction

Total

Other
(Note) 1

Total

Amount inconsolidated
Adjustments
statement of(Note) 2
income(Note) 3

Net sales(1) Revenues from externalcustomers

17,445

9,480

4,874

31,79944

31,844-

31,844(2) Intersegment sales andtransfers

75

52

-

128

18

147

(147)

-

17,520

9,533

4,874

31,92863

31,991(147)

31,844

1,448

294

424

2,167

25

2,193

8

2,202

Total
Segment profit

Notes: 1. The “Other” category is a business segment not included in reportable segments, and includes the realestate rental business.
2. Adjustments of segment profit represent eliminations for intersegment transactions.
3. Segment profit is adjusted with operating profit in the consolidated statement of income.

-8-Three months ended June 30, 2024
(Millions of yen)
Reportable segment
Bond

Chemicals Construction

Total

Other
(Note) 1

Total

Amount inconsolidated
Adjustments
statement of(Note) 2
income(Note) 3

Net sales(1) Revenues from externalcustomers

17,672

9,442

5,108

32,22343

32,267-32,267(2) Intersegment sales andtransfers

49

67

116

232

17

250

(250)

-

17,721

9,509

5,224

32,45561

32,517(250)

32,267

1,491

389

207

2,088

38

2,126

(4)

2,122

Total
Segment profit

Notes: 1. The “Other” category is a business segment not included in reportable segments, and includes the realestate rental business.
2. Adjustments of segment profit represent eliminations for intersegment transactions.
3. Segment profit is adjusted with operating profit in the consolidated statement of income.
2.

Disclosure of impairment loss on non-current assets or goodwill, etc. by reportable segment
Not applicable.

-9-