Consolidated Financial Results
for the Three Months Ended March 31, 2024
[IFRS]
May 13, 2024
: Sumitomo Rubber Industries, Ltd.
: Tokyo Stock Exchange: 5110: https://www.srigroup.co.jp/english/index.html: Satoru Yamamoto, President and CEO, Representative Director: Hitoshi Hino, Executive Officer, General Manager, Accounting & FinanceContact
Headquarters
Phone: +81-78-265-3000
Scheduled date of filing quarterly securities report: May 14, 2024
Scheduled date of commencing dividend payments:Supplementary documents for quarterly financial results: Yes
Quarterly financial results briefing session: Yes (for institutional investors and analysts)

Company name
Stock exchange listing
Code number
URL
Representative(Amounts of less than one million yen are rounded to the nearest unit.)
1. Consolidated Financial Results for the Three Months Ended March 31, 2024 (January 1, 2024 to March
31, 2024)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Sales revenue
Three months ended

Millions of yen

March 31, 2024

291,360

March 31, 2023

276,761

Operating profit

Business profit

Millions of yen

Profit attributable
Comprehensive
to owners
incomeof parent% Millions of yen% Millions of yen%

5.3

23,183

190.7

20,696 166.5

24,841

10.5

7,976

(46.1)

7,767 (45.2)

4,006% Millions of yen

%

520.2

53,605261.6(65.9)

14,825(65.9)(Note) “Business profit” is “Sales revenue” subtracted by “Cost of sales” and “Selling, general and administrative
expenses.”
Basic profit per
share

Business profit
to sales revenue
ratio

Diluted profit
per share

Three months ended

Yen

Yen

%

March 31, 2024

94.45

-

8.0

March 31, 2023

15.23

-

2.9

(2) Consolidated Financial Position
Total assets

Total equity
Ratio of equity Equity attributable
attributable toattributable toto owners ofowners of parent owners of parent parent per share

Total equity

Millions of yen

Millions of yen

Millions of yen%

Yen

March 31, 2024

1,307,493

680,995

661,55550.6

2,515.25

December 31, 2023

1,266,732

641,430

624,11449.3

2,372.90

As of(3) Consolidated Cash Flows
Cash flows fromoperating activities

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at the endof the period

Three months ended

Millions of yen

Millions of yen

Millions of yen

Millions of yen

March 31, 2024

17,611(20,046)(8,535)82,574

March 31, 2023

10,507(14,652)

6,741

77,592

2. Dividends

Annual dividends
1stquarter - end
Fiscal year ended

2ndquarter - end

3rdquarter - end

Year - end

Total

Yen

Yen

Yen

Yen

Yen

December 31, 2023

-

5.00

-

53.00

58.00

December 31, 2024

29.00

-

29.00

58.00

Fiscal year ending

December 31, 2024
(Forecast)(Note) Revision to the dividends forecast announced most recently: None

3. Consolidated Financial Results Forecast for the Fiscal Year Ending December 31, 2024 (January 1, 2024
to December 31, 2024)(% indicates changes from the previous corresponding period.)
Sales revenue
Millions ofyenFirst half
Full year

575,000
1,200,000

%

2.5
1.9

Business profit

Operating profit

Millions ofMillions ofyen

37,50080,000

%

119.6
3.0

yen

33,00061,000

%

96.3
(5.4)

(Note) Revision to the financial results forecast announced most recently: Yes

Profit attributableto owners ofparentMillions ofyen

32,00038,000

Basic profit per
share

%

Yen

290.4
2.6

121.67144.48

Notes:(1) Changes in Significant Subsidiaries during the Three Months Ended March 31, 2024
(changes in specified subsidiaries resulting in changes in scope of consolidation): None(2) Changes in accounting policies and changes in accounting estimates
1) Changes in accounting policies required by IFRS
2) Changes in accounting policies other than 1)
3) Changes in accounting estimates: None: None: None(3) Total number of issued shares (common stock)1) Total number of issued shares at the end of the period (including treasury stock)
March 31, 2024:
263,043,057 shares
December 31, 2023:
263,043,057 shares2) Total number of treasury stock at the end of the period
March 31, 2024:
26,026 shares
December 31, 2023:
25,265 shares
3) Average number of shares during the period
Three months ended March 31, 2024:
263,017,410 shares
Three months ended March 31, 2023:
263,008,028 shares* Quarterly financial statements are outside the scope of the quarterly review procedures to be conducted bycertified public accountants or auditing firms.
* Explanation of the proper use of financial results forecast and other notes
The earnings projections and other forward-looking statements herein are based on certain assumptions made inlight of the information currently available to Sumitomo Rubber Industries, Ltd. (the “Company”) and its groupcompanies (collectively, the “Group”) and do not constitute any promises by the Company that they will be
realized. Actual results could differ significantly from these forecasts due to changes in various factors
surrounding the businesses of the Company and the Group.

With regard to the matters related to the underlying assumptions for the above forecasts, please refer to page 4 of
the attached documents of the Consolidated Financial Results for the Period under Review, “1. Qualitative
Information on Quarterly Financial Results for the Period under Review, (3) Consolidated Financial Results
Forecast and Other Future Forecast.”Table of Contents

1. Qualitative Information on Quarterly Financial Results for the Period under Review ......................................... 2(1) Operating Results ............................................................................................................................................... 2(2) Financial Position ............................................................................................................................................... 4(3) Consolidated Financial Results Forecast and Other Future Forecast ................................................................. 4
2. Condensed Quarterly Consolidated Financial Statements and Primary Notes ...................................................... 6(1) Condensed Quarterly Consolidated Statements of Financial Position................................................................ 6(2) Condensed Quarterly Consolidated Statements of Income and Comprehensive Income .................................. 8(3) Condensed Quarterly Consolidated Statements of Changes in Equity............................................................. 10(4) Condensed Quarterly Consolidated Statements of Cash Flows ....................................................................... 12(5) Notes on Condensed Quarterly Consolidated Financial Statements ................................................................ 14(Notes on Going Concern Assumption) ............................................................................................................ 14(Segment Information) ...................................................................................................................................... 14(Significant Subsequent Events) ....................................................................................................................... 15-1-

1. Qualitative Information on Quarterly Financial Results for the Period under Review(1) Operating Results

Sales revenue
Tires
SportsIndustrial and Other Products
Business profit
Tires
SportsIndustrial and Other Products
Adjustments
Operating profit

For the threemonths ended
March 31, 2023
Millions of yen
276,761
229,792
35,468
11,5017,976
1,934

For the threemonths ended
March 31, 2024
Millions of yen
291,360
244,092
36,708
10,56023,183
18,278

5,459
572
11
7,767

4,225
668
12
20,696

Change in
ratio
%
5.3
6.2
3.5
(8.2)
190.7
845.2
(22.6)
16.8
166.5

Profit attributable to owners of
4,006
24,841
520.2
parent(Note) “Business profit” is “Sales revenue” subtracted by “Cost of sales” and “Selling, general andadministrative expenses.”Foreign exchange rates applied
For the threemonths ended
March 31, 2023
Yen

For the threemonths ended
March 31, 2024
Yen

Increase(Decrease)
Yen

Yen / U.S. Dollar

132

149

17

Yen / Euro

142

161

19

During the three months ended March 31, 2024, the economic environment continued to recovergradually, though some regions remain at a standstill. While the Japanese economy is expected to continue torecover steadily with the improvement in the employment and income environment, there is a risk that thedeceleration in overseas economies may depress the domestic business conditions, which is due primarily tothe impact of global monetary tightening and the concern about the Chinese economy outlook, and an
uncertainty of the situation in Middle East as well as the trends in foreign exchange, interest, and prices.
In the business environment surrounding the Group, while the impact of some automotive manufacturers’
production stoppages was still ongoing, there were an impact of depreciation of the yen and a lull in thesoaring freight costs, raw material prices and energy costs, which considerably improved the profit ascompared with the same period a year ago. Under these circumstances, the Group strongly promoted
company-wide projects that aim to reinforce our business foundation with the goal of accomplishing the MidTerm Plan, which sets 2027 as the target year. At the same time, we worked to strengthen our competitive
advantage through such efforts as developing and expanding sales of high-performance products that meet theneeds of customers.
As a result, sales revenue of the Group increased 5.3% from the same period of the previous fiscal year to¥291,360 million, business profit increased 190.7% to ¥23,183 million, operating profit increased 166.5% to¥20,696 million and profit attributable to owners of parent increased 520.2% to ¥24,841 million.

Business Performance by business segment was as follows.

-2-

Tire Business
Sales revenue in the tire business increased 6.2% from the same period of the previous fiscal year to¥244,092 million, and business profit increased 845.2% to ¥18,278 million.
In the domestic original equipment market, sales significantly fell below the level of the same period of
the previous fiscal year, as some of auto manufacturers reduced their production.
In the domestic replacement market, sales declined from the same period of the previous fiscal year due
to rush demand before the prices increase in the same period of the last year and delay in changing fromwinter tires to summer tires stemming from cold weather until late March.
In the overseas original equipment market, sales declined from the level of the same period of theprevious fiscal year due to decreased shipments in Southeast Asia despite increased sales in a major market,
China.
In the overseas replacement market, in Asia-Oceania region, sales in China remained at a low level due to
its market stagnation. Likewise, sales in Southeast Asia fell below from the level of the same period of theprevious fiscal year amid the overall sluggish market. In Europe region, sales exceeded the level of the same
period of the previous fiscal year, as we made efforts to increase sales of winter tires and all-season tires in amarket environment where the sales period of winter tires was postponed until this spring. In the American
region, sales exceeded the level of the same period of the previous fiscal year as the sales continued to bestrong with a flagship product, WILDPEAK Series whose new products were released at the beginning of theyear. In South America, our sales were on par with the level of the previous fiscal year, having nearly as muchsales as we planned, although import products increased in the market against the backdrop of a decline inocean freight.
As a result, sales revenue and business profit in the tire business exceeded the level of the same period of
the previous fiscal year thank to the impact of the depreciation of the yen, though the sales volume declined
from the level of the same of the previous fiscal year.

Sports Business
Sales revenue in the sports business increased 3.5% from the same period of the previous fiscal year to¥36,708 million, and business profit decreased 22.6% from the same period of the previous fiscal year to¥4,225 million.
In the golf goods market, sales revenue exceeded the level of the same period of the previous fiscal year
as we were able to keep strong sales performance for the newly launched 13th generation XXIO clubprimarily in the markets such as Japan and North America.
In the tennis goods markets, sales declined from the level of the previous fiscal year due to sluggish salesin Europe.
In the wellness business, sales revenue exceeded the level of the same period of the previous fiscal year
thanks to the effects of the price increases.
As a result, sales revenue in the sports business exceeded the level of the same period of the previous
fiscal year, but business profit decreased.
Industrial and Other Products Business
Sales revenue in the industrial and other products business decreased 8.2% from the same period of theprevious fiscal year to ¥10,560 million, and business profit increased 16.8% to ¥668 million.
While sales of rubber parts for medical applications produced domestically increased, the sales in Europe
substantially declined as we conducted a stock transfer of our subsidiary engaged in manufacturing and salesof medical rubber products in Europe at the end of January 2024, which decreased the overall sales. In
addition, orders received increased for infrastructure products, but sales of disposable rubber gloves, vibration
control business and rubber parts for office equipment decreased.
As a result, sales revenue in the industrial and other products business declined from the level of the same
period of the previous fiscal year, but business profit increased.

-3-(2) Financial Position

Total assets
Total equity
Total equity attributable toowners of parent
Total equity attributable toowners of parent ratio (%)
Equity attributable to owners ofparent per share

As of December
31, 2023
Millions of yen
1,266,732
641,430

As of March
31, 2024
Millions of yen
1,307,493
680,995

Increase(Decrease)
Millions of yen
40,761
39,565624,114661,555

37,441

49.3

50.6

1.3

2,372.90 yen

2,515.25 yen

142.35 yen

The financial position of the Group as of March 31, 2024 was as follows.
Total assets increased ¥40,761 million from the end of the previous fiscal year to ¥1,307,493 million
mainly as a result of increase in inventories and trade and other receivables.
Total liabilities increased ¥1,196 million from the end of the previous fiscal year to ¥626,498 million
mainly as a result of an increase in interest-bearing debt.
Total equity as of March 31, 2024 increased ¥39,565 million from the end of the previous fiscal year to¥680,995 million, of which equity attributable to owners of parent accounted for ¥661,555 million, and noncontrolling interest accounted for ¥19,440 million.
As a result, equity attributable to owners of parent ratio was 50.6%, and equity attributable to owners ofparent per share was ¥2,515.25.

(3) Consolidated Financial Results Forecast and Other Future Forecast
During the half year ending June 30, 2024, the profitability is expected to exceed the previous forecast
mainly due to the depreciation of the yen, although sales volume of tires will decrease slightly than
anticipated. Regarding to the fiscal year ending December 31, 2024, we expect the impact of raw material
price hikes in the second half of the fiscal year. As a result, we have revised the consolidated results forecasts
for the half year and full-year as below.
Consolidated Financial Results Forecast for Six Months Ending June 30, 2024 (January 1, 2024 to June 30,2024)(Reference)Previous
Increase
Change inResults for the
Forecast
forecast(Decrease)ratiosame period of
the previous year
Millions of yen Millions of yen Millions of yen% Millions of yen
Sales revenue
575,000
575,000
561,161
Tires
SportsIndustrial andOther Products
Business profit
Tires
SportsIndustrial andOther Products
Adjustments
Operating profit
Profit attributableto owners of parent

482,000
74,500483,500
74,500(1,500)-(0.3)-

471,076
68,14918,50017,0001,500

8.8

21,93637,50028,5008,000

34,50025,500
8,000

3,000
3,000
-

8.7
11.8
-

17,080
9,759
6,435

1,000

1,000

-

-

868

33,00030,000

3,000

10.0

18
16,81032,00023,500

8,500

36.2

8,196

-4-

Foreign exchange rates applied
Forecast
Yen
150
162

Yen / U.S. Dollar
Yen / Euro

Previous
forecast
Yen
148
156

(Reference)
Results for thesame period of
the previous year
Yen
Yen
2
135
6
146

Increase(Decrease)

Consolidated Financial Results Forecast for the Fiscal Year Ending December 31, 2024 (January 1, 2024 to
December 31, 2024)(Reference)Previous
Increase
Change inResults for the
Forecast
forecast(Decrease)ratiosame period of
the previous year
Millions of yen Millions of yen Millions of yen% Millions of yen
Sales revenue
1,200,000
1,200,000
1,177,399
Tires
1,032,000
1,033,000(1,000)(0.1)
1,006,381
Sports131,500
131,500
126,647
Industrial and
36,50035,5001,000
2.8
44,371Other Products
Business profit
80,00080,00077,670Tires
66,50066,50063,572
Sports
11,00011,00012,482
Industrial and
2,500
2,500
1,603
Other Products
Adjustments
13
Operating profit
61,00061,00064,490
Profit attributableto owners of parent

38,00037,0001,000

2.7

37,048Foreign exchange rates applied
Forecast

Yen / U.S. Dollar
Yen / Euro

Yen
151
163

Previous
forecast
Yen
148
156

(Reference)
Results for thesame period of
the previous year
Yen
Yen
3
141
7
152

Increase(Decrease)

The results forecast and other forward-looking statements herein are based on certain assumptions madein light of the information currently available to the Company and the Group as of the date of the release ofthis document and include potential risks and uncertainty. Please note that actual results may differ
significantly from these forecasts due to changes in various factors surrounding the businesses of theCompany and the Group.

-5-2. Condensed Quarterly Consolidated Financial Statements and Primary Notes(1) Condensed Quarterly Consolidated Statements of Financial Position(Millions of yen)
As of December 31, 2023

As of March 31, 2024

AssetsCurrent assets
Cash and cash equivalents

90,251

82,574

Trade and other receivables
Other financial assets
Inventories

215,970
2,896
262,456

217,756
2,778
277,012

Other current assets

51,36857,149Subtotal

622,941

637,269

1,778-

624,719637,269

451,62129,70450,332

463,233
31,24052,987

Investments accounted for using equity method

4,486

4,480

Other financial assets
Net defined benefit asset

33,05653,474

40,58654,268Deferred tax assets
Other non-current assets

17,357
1,983

19,312
4,118

Total non-current assets

642,013670,224

1,266,732

1,307,493

Assets related to disposal groups classified asheld for sale
Total current assets
Non-current assets
Tangible assets
Goodwill
Intangible assets

Total assets-6-

(Millions of yen)
As of December 31, 2023

As of March 31, 2024

Liabilities and equity
Liabilities
Current liabilities
Bonds and loans payable
Trade and other payables

61,209
175,844

71,368168,382

Other financial liabilities

16,542

14,447

Income tax payable

17,4508,402

Provisions

2,235

1,954

Other current liabilities

56,271

62,958Subtotal

329,551

327,5111,538-

331,089

327,511

Bonds and loans payable
Other financial liabilities

184,166
52,139184,610
54,198Net defined benefit liability

23,027

24,422

Provisions
Deferred tax liabilities
Other non-current liabilities

1,431
12,21921,231

1,303
12,782
21,672

Total non-current liabilities

294,213

298,987

625,302626,498

Capital stock

42,65842,658

Capital surplus
Retained earnings
Treasury stock

39,702522,716(43)

39,828533,623(45)

Other components of equity

19,08145,491

Total equity attributable to owners of parent

624,114661,555

Non-controlling interests

17,316

19,440Total equity

641,430

680,995

1,266,732

1,307,493

Liabilities related to disposal groups
classified as held for sale
Total current liabilities
Non-current liabilities

Total liabilities
EquityTotal liabilities and equity-7-(2) Condensed Quarterly Consolidated Statements of Income and Comprehensive Income
Condensed Quarterly Consolidated Statements of Income(Millions of yen)
For the three months ended
March 31, 2023

For the three months ended
March 31, 2024

Sales revenue

276,761

291,360

Cost of sales(209,658)(202,335)

Gross profit

67,10389,025

Selling, general and administrative expenses(59,127)(65,842)

Business profit

7,976

23,183

Other income

840

763

Other expenses(1,049)(3,250)Operating profit

7,767

20,696

Financial income

2,922

6,883

Financial expenses(1,763)(1,715)(27)(2)

Profit before tax

8,899

25,862

Income tax expenses(4,215)

359

Profit4,684

26,221

Profit attributable to:
Owners of parent
Non-controlling interests

4,006
678

24,841
1,380

4,684

26,221

15.23

94.45

Equity in earnings of affiliates

ProfitProfit per share
Basic profit per share (Yen)-8-

Condensed Quarterly Consolidated Statements of Comprehensive Income(Millions of yen)
For the three months ended
March 31, 2023

For the three months ended
March 31, 2024

4,684

26,221

629

3,621

20

7

9,492

23,756

10,141

27,384Comprehensive income

14,82553,605Comprehensive income attributable to:
Owners of parent
Non-controlling interests

13,773
1,052

51,2572,348

14,82553,605

ProfitOther comprehensive income
Items that will not be reclassified to profit or loss
Financial assets measured at fair value throughother comprehensive income
Items that may be reclassified subsequently to
profit or loss
Cash flow hedges
Currency translation differences of foreign
operations
Other comprehensive income, net of tax

Comprehensive income-9-(3) Condensed Quarterly Consolidated Statements of Changes in Equity
For the three months ended March 31, 2023
(Millions of yen)
Equity attributable to owners of parent
Other components of equity
CapitalStock

Balance as of January 1, 2023

Capitalsurplus42,658Retainedearnings

39,705

ProfitTreasury stock

478,379(61)

Cash flow
hedges(25,144)

27

9,118

20

9,118

20

4,006

Other comprehensive income
Total comprehensive income

Currencytranslationdifferences offoreign
operations

-

-

4,006

-

Purchase of treasury stock(0)

Disposal of treasury stock(0)

Dividends

0(3,945)

Transfer to retained earnings(3)

Transfer to capital surplus

0

(0)

Other

(3)

28

Total transactions with owners-(3)(3,920)(0)--Balance as of March 31, 2023

42,65839,702478,465(61)(16,026)47

Equity attributable to owners of parent
Other components of equity
Financialassetsmeasured at Remeasurements
fair valueof defined
through otherbenefit plancomprehensive
incomeBalance as of January 1, 2023

10,636-

Non-controllinginterests

Total

Total

Total
Equity(14,481)546,200

17,663563,863

-

4,006

678

4,684

9,767

9,767

374

10,141

9,767

13,773

1,052

14,825Purchase of treasury stock

-

(0)

(0)

Disposal of treasury stock

-

0

0

Dividends-(3,945)

3--

Transfer to capital surplus

-

-

-

Other

-

25

(4)

21

ProfitOther comprehensive income
Total comprehensive income

Transfer to retained earnings

629
629

-

3

(52)

(3,997)

Total transactions with owners

3

-

3

(3,920)(56)(3,976)

Balance as of March 31, 2023

11,268-(4,711)

556,053

18,659574,712- 10 -

For the three months ended March 31, 2024
(Millions of yen)
Equity attributable to owners of parent
Other components of equity
CapitalStock

Balance as of January 1, 2024

Capitalsurplus42,658Retainedearnings

39,702

ProfitCurrencytranslationdifferences offoreign
operations

Treasury stock

522,716(43)

Cash flow
hedges

10,201(4)

20,8887

20,888

7

24,841Other comprehensive income
Total comprehensive income--

24,841-

Purchase of treasury stock(2)

Disposal of treasury stock
Dividends(13,940)

Transfer to retained earnings

6

Transfer to capital surplus
Other

126

Total transactions with owners-

126(13,934)

(2)

-

-

Balance as of March 31, 2024

42,65839,828533,623(45)

31,0893

Equity attributable to owners of parent
Other components of equity
Financial
Otherassetscomponents ofmeasured at Remeasureme equity relating
fair value
nts
to disposal
through other of definedgroupscomprehensiv benefit plan classified aseheld for sale
incomeTotal

Noncontrollinginterests

Total
Equity19,081

624,114

17,316

641,430-

24,841

1,380

26,221

1,900

26,416

26,416968

27,384

1,900

26,416

51,2572,348

53,605Purchase of treasury stock

-

(2)

(2)

Disposal of treasury stock

-

-

-

Dividends-(13,940)

(6)

-

-

Transfer to capital surplus

-

-

-

Other

-

126

(126)

-

Balance as of January 1, 2024

10,784-(1,900)

ProfitOther comprehensive income
Total comprehensive income

Transfer to retained earnings

3,621
3,621

-

(6)

Total

(98)

(14,038)

Total transactions with owners

(6)

-

-

(6)

(13,816)(224)(14,040)

Balance as of March 31, 2024

14,399--45,491

661,555

19,440680,995- 11 -

(4) Condensed Quarterly Consolidated Statements of Cash Flows(Millions of yen)
For the three months ended For the three months ended
March 31, 2023
March 31, 2024
Cash flows from operating activities
Profit before tax
Depreciation and amortization

8,899
18,93725,862
20,087

Interest and dividends income(588)(1,157)

Interest expenses
Share of (profit) loss of entities accounted for using
equity method

1,344

1,716

27

2

Decrease (increase) in inventories
Decrease (increase) in trade and other receivables

673(4,601)(5,239)5,097

Increase (decrease) in trade and other payables
Other, net(16,095)
7,407(9,255)(8,444)

Subtotal

16,003

28,669Interest received
Dividend income received
Interest expenses paid
Income taxes paid

522
34
(1,319)(4,733)1,112
20(1,675)(10,515)

Net cash provided by (used in) operating activities

10,507

17,611

Purchase of tangible assets
Proceeds from sales of tangible assets
Purchase of intangible assets
Other, net(15,860)585(2,037)(14,449)
99(3,285)2,660(2,411)

Net cash provided by (used in) investing activities(14,652)(20,046)

Cash flows from investing activities- 12 -

(Millions of yen)
For the three months ended For the three months ended
March 31, 2023
March 31, 2024
Cash flows from financing activities
Net increase (decrease) in short-term loans payable
Repayments of long-term debt and redemption of

14,034

11,861bonds
Repayments of lease obligations-(2,000)(3,376)(4,587)

Cash dividends paid
Cash dividends paid to non-controlling interests
Other, net(3,866)(52)
1(13,709)(98)(2)

Net cash provided by (used in) financing activities

6,741(8,535)

Effect of exchange rate change on cash and cash
equivalents

1,150

3,293

Net increase (decrease) in cash and cash equivalents

3,746(7,677)

Cash and cash equivalents at the beginning of current
period73,84690,251

Cash and cash equivalents at the end of current period

77,592

82,574- 13 -

(5) Notes on Condensed Quarterly Consolidated Financial Statements(Notes on Going Concern Assumption)
None(Segment Information)
1. Information by reportable segment
Reportable segments of the Group are the units for which separate financial information is available andperiodically reviewed by the Board of Directors as the highest decision-making body for the purposes ofdeciding the allocation of management resources and evaluating business performance.
The Group has three divisions based on operations in Tires, Sports and Industrial and Other Products.
Each division formulates comprehensive strategies for both domestic and overseas markets and develops
business activities.
Therefore, the Group identifies “Tires”, “Sports”, and “Industrial and Other Products” as reportablesegments.
Major products and services or details of business that belong to each reportable segment are as follows.
Reportablesegment
Tires

SportsIndustrial
and Other
Products

Major products and services or details of business
Tires and tubes (for automobiles, construction vehicles, industrial vehicles, automotive
races and rallies, motorcycles, etc.)
Automotive system business (instant mobility systems, deflation warning systems, etc.)
Sporting goods (golf clubs, golf balls and other golf goods, tennis goods, etc.)
Operation of golf tournaments
Operation of golf and tennis schools
Fitness business, and others
High-performance rubber products (vibration control dampers, rubber parts for officeequipment, rubber parts for medical applications, etc.)
Daily life supplies (rubber gloves for cooking and other operations, ramps for wheelchairuse, etc.)
Products for infrastructure (marine dock fenders, flooring materials for factories andsports facilities, etc.)- 14 -

2. Reportable segment sales revenues and profit or loss
Inter-segment sales revenues are stated at wholesale prices based on current market values.
Figures for reportable segment are based on business profit.
Information about reportable segment sales revenues and profit or loss is as follows.

For the three months ended March 31, 2023 (January 1, 2023 to March 31, 2023)
Reportable segment

Tires
Sales revenue fromexternal customers
Inter-segment sales
revenue

Industrial and
Other
Products

Sports

Total(Millions of yen)Amounts
recorded in
Condensed
Adjustments
Quarterly(Note 2)
Consolidated
Statementsof Income

229,792

35,468

11,501

276,761-

276,761

397

32

322

751

(751)

-

Total

230,189

35,50011,823

277,512(751)

276,761

Segment profit(Business profit) (Note 1)

1,934

5,459

572

7,965

11

7,976

Other income andexpenses(209)

Operating profit

7,767(Notes)
1. “Segment profit (Business profit)” is “Sales revenue” subtracted by “Cost of sales” and “Selling, generaland administrative expenses.”
2. Segment profit included in “Adjustment” comprised elimination of inter-segment transactions.

For the three months ended March 31, 2024 (January 1, 2024 to March 31, 2024)
Reportable segment

Tires
Sales revenue fromexternal customers
Inter-segment sales
revenue

Industrial and
Other
Products

Sports

Total(Millions of yen)Amounts
recorded in
Condensed
Adjustments
Quarterly(Note 2)
Consolidated
Statementsof Income

244,092

36,708

10,560291,360-

291,360

316

31

296

643

(643)

-

Total

244,408

36,73910,856

292,003(643)

291,360

Segment profit(Business profit) (Note 1)

18,2784,225

668

23,171

12

23,183

Other income andexpenses(2,487)

Operating profit

20,696(Notes)
1. “Segment profit (Business profit)” is “Sales revenue” subtracted by “Cost of sales” and “Selling, generaland administrative expenses.”
2. Segment profit included in “Adjustment” comprised elimination of inter-segment transactions.

(Significant Subsequent Events)
None- 15 -