Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Three Months Ended June 30, 2024
(Based on Japanese GAAP)
August 9, 2024
Company name:Tokyo Cosmos Electric Co., Ltd.
Stock exchange listing: Tokyo
Stock code:
Representative:

6772
URL https://www.tocos-j.co.jp/
Representative Director, President
Yoshiki Iwasaki

Inquiries:
Director
Scheduled date to commence dividend payments:

Jun Kubota–Preparation of supplementary material on financial results:
Holding of financial results meeting:

NoNo

TEL046-253-2111(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended June 30, 2024 (from April 1, 2024 to June 30, 2024)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%Three months ended June 30, 2024
2,490
(2.8)
231 (38.5)297 (37.6)
191 (44.2)
Three months ended June 30, 2023
2,560
1.6
377
22.5
475
10.9
343
5.6
Earnings per share

Diluted earnings per share

Yen
141.73247.28Three months ended June 30, 2024
Three months ended June 30, 2023

Yen––(2) Consolidated financial position
Total assets

Net assets

Millions of yen
12,58012,415

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

Equity ratio

Millions of yen
7,196
7,003

%
57.2
56.4

2. Cash dividends
Annual dividends per share

Year ended March 31, 2024
Year ending March 31, 2025

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen–

Yen–

Yen
145.00Yen
145.00––160.00160.00Year ending March 31, 2025 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)
Net sales
Full year

Millions of yen
10,000Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
Earnings per shareowners of parent% Millions of yen% Millions of yen% Millions of yen%Yen(4.2)
850 (32.6)
800 (43.0)
560 (41.8)
414.791

4. Notes(1) Significant changes in the scope of consolidation during the three months ended June 30, 2024:

No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
YesChanges in accounting policies due to other reasons:
Changes in accounting estimates:

NoNo

Restatement of prior period financial statements:

No(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2024

1,581,250 shares As of March 31, 2024

1,581,250 shares

231,233 shares As of March 31, 2024

231,173 shares

Number of treasury shares at the end of the period
As of June 30, 2024

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2024

1,350,055 shares Three months ended June 30, 2023

2

1,387,311 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Thousands of yen)
As of March 31, 2024

As of June 30, 2024

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract assets

3,577,129
2,008,640

3,829,520
1,957,026

Electronically recorded monetary claims - operating
Merchandise and finished goods

621,283
519,361

576,060
538,990

Work in process
Raw materials and supplies

376,094877,452

388,641
843,350

Other
Allowance for doubtful accounts

106,588(6,440)130,017(6,428)8,080,110

8,257,178

980,006
582,638

960,763589,612Land
Other, net

1,715,871
300,053

1,715,871
250,896

Total property, plant and equipment

3,578,568

3,517,144

52,301

40,231

Other

27,691

25,204

Total intangible assets

79,99265,436677,229

740,869

Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net

Intangible assets
Leased assets

Investments and other assets
Other
Total investments and other assets

677,229

740,869

4,335,791

4,323,450

12,415,901

12,580,628

Notes and accounts payable - trade
Electronically recorded obligations - operating

707,408
376,073664,284
389,694

Short-term borrowings
Current portion of long-term borrowings

300,000
514,536

300,000
486,104

Income taxes payable
Provision for bonuses

215,903
220,379

109,682259,601

Provision for bonuses for directors (and other officers)
Other

40,000523,102–788,111

Total current liabilities

2,897,4032,997,478

Non-current liabilities
Long-term borrowings

1,367,444

1,259,455

3,690

–

Retirement benefit liability
Deferred tax liabilities for land revaluation

453,308
314,794

444,409314,794

Other

376,238

368,155

2,515,475

2,386,813

5,412,879

5,384,292

Total non-current assets
Total assets
Liabilities
Current liabilities

Provision for retirement benefits for directors (and otherofficers)

Total non-current liabilities
Total liabilities3

(Thousands of yen)
As of March 31, 2024

As of June 30, 2024

Net assets
Shareholders' equity
Share capital
Capital surplus

1,277,000
4,820

1,277,000
4,820

Retained earnings
Treasury shares

4,569,606(399,862)

4,565,161(400,103)

Total shareholders' equity

5,451,563

5,446,878

294,088

345,009

Revaluation reserve for land
Foreign currency translation adjustment

734,519472,984

734,519619,382

Remeasurements of defined benefit plans

49,86750,546

1,551,459

1,749,457

7,003,022

7,196,336

12,415,901

12,580,628

Accumulated other comprehensive income
Valuation difference on available-for-sale securities

Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

4Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Thousands of yen)Three months ended

Three months ended

June 30, 2023

June 30, 2024

Net sales
Cost of sales

2,560,774
1,850,640

2,490,108
1,809,700

Gross profit

710,133

680,408

Selling, general and administrative expenses

332,996

448,441

Operating profit

377,137

231,966

Interest income
Dividend income

1,523
5,278

154
6,863

Foreign exchange gains
Other

79,88523,44058,5307,127

Total non-operating income

110,127

72,675

9,489

6,773

1,898

701

Non-operating income

Non-operating expenses
Interest expenses
Other
Total non-operating expenses

11,3887,474

475,876

297,167

Extraordinary income
Gain on sale of non-current assets

691–

Total extraordinary income

691–

14,290614,290

6

Profit before income taxes

462,276

297,160

Income taxes - current
Income taxes - deferred

122,869(3,650)86,193
19,630Total income taxes

119,218

105,823

Profit343,057

191,336

Profit attributable to owners of parent

343,057

191,336

Ordinary profit

Extraordinary losses
Loss on sale and retirement of non-current assets
Total extraordinary losses

5Consolidated statements of comprehensive income (cumulative)(Thousands of yen)

ProfitOther comprehensive income

Three months ended

Three months ended

June 30, 2023

June 30, 2024
343,057

191,336

Valuation difference on available-for-sale securities
Foreign currency translation adjustment

53,474
116,82150,920146,398

Remeasurements of defined benefit plans, net of tax

1,270

679

171,566

197,998

Comprehensive income

Total other comprehensive income

514,624

389,335

Comprehensive income attributable toComprehensive income attributable to owners of parent

514,624

389,335

6