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 Nine Months Ended December 31, 2023
(Based on Japanese GAAP)
February 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:DirectorScheduled date to file Quarterly Securities Report:

Satoshi Ueda
February 14, 2024

Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:–No

Holding of quarterly financial results meeting:

NoTEL

046-253-2111(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the nine months ended December 31, 2023 (from April 1, 2023 to December 31, 2023)(1) Consolidated operating results (cumulative)
Net sales
Nine months ended December 31, 2023
Nine months ended December 31, 2022

Millions of yen
7,938
7,995

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen%
(0.7)
988
(0.8)
1,112(3.2)
777 (12.1)
11.7
997
34.5
1,149
46.0
885
45.9

Earnings per share

Diluted earnings per shareYen
569.70623.87

Nine months ended December 31, 2023
Nine months ended December 31, 2022

Yen––(2) Consolidated financial position
Total assets
As of December 31, 2023
As of March 31, 2023

Net assets

Millions of yen
12,01813,400Equity ratio

Millions of yen
6,617
5,915%
55.1
44.1

2. Cash dividends
Annual dividends per share

Year ended March 31, 2023
Year ending March 31, 2024

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen––

Yen––

Yen
60.00

Yen
60.00

95.00

95.00

Year ending March 31, 2024 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Yen
Full year
10,100(5.7)
990 (26.7)
1,100 (27.6)
770 (34.5)
570.241

4. Notes(1) Changes in significant subsidiaries during the nine months ended December 31, 2023
(changes in specified subsidiaries resulting in the change in scope of consolidation):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:
Changes in accounting policies due to other reasons:

NoNo

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2023

1,581,250 shares As of March 31, 2023

1,581,250 shares

231,092 shares As of March 31, 2023

160,161 shares

Number of treasury shares at the end of the period
As of December 31, 2023

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Nine months ended December 31, 2023

1,365,110 shares Nine months ended December 31, 2022

2

1,418,947 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Thousands of yen)
As of March 31, 2023

As of December 31, 2023

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

4,036,742
2,165,301

3,019,788
2,154,740

Electronically recorded monetary claims - operating
Merchandise and finished goods

712,749
742,678

701,871684,163

Work in process
Raw materials and supplies

355,328
761,081

323,904
769,499

Other
Allowance for doubtful accounts

163,185(16,095)

109,876(11,563)

8,920,972

7,752,279

Buildings and structures, net
Machinery, equipment and vehicles, net

1,046,629
639,767

1,001,933
497,475

Land
Other, net

1,715,871
442,558

1,715,871
394,064

Total property, plant and equipment

3,844,8263,609,344

100,578

64,370Other34,94530,753

Total intangible assets

135,524

95,124

499,534

561,983

Total current assets
Non-current assets
Property, plant and equipment

Intangible assets
Leased assets

Investments and other assets
Other
Investments and other assets

499,534

561,983

4,479,885

4,266,452

13,400,857

12,018,732

723,230
613,393

809,609343,172

1,450,000
572,272

300,000
528,881

Income taxes payable
Provision for bonuses

227,335
202,164

168,149
129,523

Provision for bonuses for directors (and other officers)
Other40,000
562,292

40,000490,071

Total current liabilities

4,390,688

2,809,407

Non-current liabilities
Long-term borrowings

1,848,080

1,478,737

4,357

3,382

Retirement benefit liability
Deferred tax liabilities for land revaluation

497,017314,794

462,641
314,794

Other

430,121331,924

3,094,370

2,591,478

7,485,059

5,400,886

Total non-current assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Current portion of long-term borrowings

Provision for retirement benefits for directors (and otherofficers)

Total non-current liabilities
Total liabilities3

(Thousands of yen)
As of March 31, 2023

As of December 31, 2023

Net assets
Shareholders' equity
Share capital

1,277,000

1,277,000

Capital surplus
Retained earnings

1,322
3,692,626

4,820
4,385,069

Treasury shares(224,051)(399,595)

Total shareholders' equity

4,746,897

5,267,293

Valuation difference on available-for-sale securities
Revaluation reserve for land

115,882
734,519

206,678734,519

Foreign currency translation adjustment
Remeasurements of defined benefit plans

278,864
39,634

365,906
43,447

1,168,900

1,350,552

Accumulated other comprehensive income

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

45,915,798

6,617,845

13,400,857

12,018,732

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

Nine months ended

December 31, 2022

December 31, 2023

Net sales
Cost of sales

7,995,874
5,940,930

7,938,559
5,797,392

Gross profit

2,054,944

2,141,166

Selling, general and administrative expenses

1,057,730

1,152,354

997,213988,812

2,915
9,805

6,229
11,962Foreign exchange gains
Other

147,254
38,823

100,901
59,644

Total non-operating income

198,798

178,737

Operating profit
Non-operating income
Interest income
Dividend income

Non-operating expenses
Interest expenses

33,47827,335

Loss due to suspension of business
Other–
13,527

20,341
7,831

Total non-operating expenses

47,00655,5091,149,005

1,112,041

Gain on sale of non-current assets

5,272

891

Total extraordinary income

5,272

891

Loss on sale and retirement of non-current assets
Loss on sale of investment securities

187
65

14,348–

Total extraordinary losses

252

14,348

Profit before income taxes

1,154,024

1,098,584

Income taxes - current
Income taxes - deferred

204,453
64,340294,084
26,791

Total income taxes

268,793

320,875

Profit885,231

777,708

Profit attributable to owners of parent

885,231

777,708

Ordinary profitExtraordinary income

Extraordinary losses

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

ProfitOther comprehensive income

Nine months ended

Nine months ended

December 31, 2022

December 31, 2023

885,231

777,708

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

23,54630,222

90,79687,042Remeasurements of defined benefit plans, net of tax(29,094)

3,812

24,674

181,651

Comprehensive income

Total other comprehensive income

909,906

959,359

Comprehensive income attributable toComprehensive income attributable to owners of parent

909,906

959,359

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