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.

Consolidated Financial Results
for the Three Months Ended June 30, 2024
[Japanese GAAP]
August 9, 2024
Company name: GAKKYUSHA CO.,LTD.
Listing: Tokyo
Securities code: 9769
URL: https://www.gakkyusha.com/
Director, Representative Executive Officer, President andCOO
Executive Officer, General Manager of Finance & Accounting
Department

Representative: Atsushi Kurisaki
Inquiries: Kazuo AraiTelephone: +81-3-6300-5311
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 Three Months Ended June 30, 2024 (April 1, 2024 to June 30, 2024)(1) Consolidated Operating Results(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
2,526
2.239(14.6)
(17)
(28)
June 30, 2023
2,471
1.8
46
88.5
(18)
(66)
(Note) Comprehensive income:Three months ended June 30, 2024:¥(22) million [-%]
Three months ended June 30, 2023:¥(63) million [-%]
Basic earnings
per share
Three months ended
June 30, 2024
June 30, 2023

Diluted earnings pershare
YenYen(2.60)(6.11)-(2) Consolidated Financial Position
Total assets
As ofJune 30, 2024
March 31, 2024
(Reference) Equity:

Millions of yen

Net assets

9,578
10,909As of June 30, 2024:
As of March 31, 2024:

Capital adequacy ratio

Millions of yen¥
¥

6,011
6,490
6,009 million
6,488 million

%

62.7
59.5

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2024

-

45.00

-

42.00

87.00

Fiscal year ending March 31, 2025

-

42.00

87.00

Fiscal year ending March 31, 2025

45.00
(Forecast)(Note) Revision to the forecast for dividends announced most recently:
None(Note) Breakdown of the 1st quarter dividend for the fiscal year ending March 31, 2025 :Commemorative dividend- yenSpecial dividend- yenYear-endTotal

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2025(April 1, 2024 to March 31, 2025)(Percentages indicate year-on-year changes.)
Profit attributable Basic earnings per
Net sales
Operating profit
Ordinary profit
to owners of parent
shareMillions ofyen%Millions ofyen%Millions ofyen%

Full year
13,858
5.0
2,927
8.6
2,932
8.0
(Note) Revision to the financial results forecast announced most recently:
None* Notes:(1) Significant changes in the scope of consolidation during the period:
Newly included:(Company name:
Excluded:(Company name:Millions ofyen%

Yen

1,9788.3

182.08None))(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements:(3) Changes in accounting policies, changes in accounting estimates, and restatement
1) Changes in accounting policies due to revisions to accounting standards and other regulations:
2) Changes in accounting policies due to other reasons: None
3) Changes in accounting estimates: None
4) Restatement: NoneYes

None(4) Number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
June 30, 2024:
10,968,356 shares
March 31, 2024:
10,968,356 shares
2) Number of treasury shares at the end of the period:
June 30, 2024:
100,099 shares
March 31, 2024:
100,058 shares
3) Average number of shares outstanding during the period:
Three months ended June 30, 2024:
Three months ended June 30, 2023:

10,868,264 shares
10,917,806 shares* Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public
accountants or an audit firm: None
* Proper use of earnings forecasts, and other special matters

GAKKYUSHA CO.,LTD.(9769)

Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets(Thousands of yen)
As of March 31, 2024
AssetsCurrent assets
Cash and deposits
Accounts receivable - trade
Merchandise
Supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, netLand
Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Total non-current assets
Total assets

1

As of June 30, 2024

2,244,108
64,29564,786
9,053
257,676(416)
2,639,503

1,019,356
55,40556,664
7,138
263,104(277)
1,401,392

5,980,267(1,984,120)
3,996,146
1,114,659(948,922)
165,737
1,603,633
599,235(363,242)
235,9936,001,509

6,025,060(2,033,469)
3,991,591
1,153,880(967,201)
186,678
1,603,633
626,191(412,254)
213,936
5,995,840

30,051
58,39388,4452,179,694
8,269,650
10,909,153

27,29853,49080,7892,100,854
8,177,484
9,578,876

GAKKYUSHA CO.,LTD.(9769)(Thousands of yen)
As of March 31, 2024
Liabilities
Current liabilities
Accounts payable - trade
Current portion of long-term borrowings
Accounts payable - other
Income taxes payable
Advances received
Provision for bonuses
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 income
Non-controlling interests
Total net assets
Total liabilities and net assets

2

As of June 30, 2024

26,132
148,663
497,868
429,479
1,255,100
61,153455,3312,873,730

2,910
148,663
476,089
30,009964,943
70,732385,8312,079,180

1,310,438
70,332
163,722
1,544,493
4,418,223

1,273,272
70,863
143,879
1,488,014
3,567,195

1,216,356
410,842
5,035,597(225,819)
6,436,976

1,216,356
410,8424,550,819(225,907)
5,952,110

51,35247,508(240)(26,972)
27,286
51,4262,527
6,490,930
10,909,153

187(18,312)27,62757,0102,559
6,011,680
9,578,876

GAKKYUSHA CO.,LTD.(9769)

Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the three months)(Thousands of yen)
For the three months
ended June 30, 2023
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Rental income from buildings
OtherTotal non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity
methodLitigation expenses
Other
Total non-operating expenses
Ordinary loss
Extraordinary losses
Impairment losses
Loss on retirement of non-current assets
Loss on cancellation of rental contracts
Total extraordinary losses
Loss before income taxes
Income taxes
Loss
Profit (loss) attributable to non-controlling interests
Loss attributable to owners of parent

3

For the three months
ended June 30, 2024

2,471,477
1,932,995
538,481492,030
46,451

2,526,137
1,943,741
582,395
542,704
39,691

16
2,202
3,966
6,185

339
3,031
3,779
7,150

3,038

2,956

46,09358,50519,0002,730
70,862(18,225)

2,804
64,266(17,425)

5,835
3,370
1,074
10,280(28,505)
38,435(66,940)(209)(66,731)

972
118
2,676
3,767
(21,192)
7,085(28,277)32(28,310)GAKKYUSHA CO.,LTD.(9769)

Quarterly Consolidated Statements of Comprehensive Income (For the three months)(Thousands of yen)
For the three months
ended June 30, 2023
Loss
Other comprehensive income
Foreign currency translation adjustment
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 ofparentComprehensive income attributable to non-controllinginterests

4

For the three months
ended June 30, 2024

(66,940)(28,277)

1,152

8,929

2,013

(3,345)

3,166(63,774)

5,584(22,693)(63,564)(22,726)(209)

32