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]
July 29, 2024
Company name: NAGAWA Co., Ltd.
Listing: Tokyo
Securities code: 9663
URL: https://group.nagawa.co.jp/
Representative: Ryo Shimmura
Inquiries: Masayoshi Kunou
Telephone: +81-3-5288-8666
Scheduled date to commence dividend payments: Preparation of supplementary material on financial results: Yes
Holding of financial results briefing: NonePresident
Senior Executive Officer(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
8,463
18.2901
14.81,160
17.5
770
16.3
June 30, 2023
7,160
2.6
785
(15.7)
988
(8.0)
662
(10.3)(Note) Comprehensive income:Three months ended June 30, 2024:¥597 million [(62.5) %]Three months ended June 30, 2023:¥
1,593 million [176.8%]
Basic earnings
per share
Three months ended
June 30, 2024
June 30, 2023

Diluted earnings pershare
Yen

Yen

49.06
42.16

-(2) Consolidated Financial Position
Total assets
As ofJune 30, 2024
March 31, 2024
(Reference) Equity:

Millions of yen

Net assets

65,457
66,876
As of June 30, 2024:
As of March 31, 2024:

Capital adequacy ratio

Millions of yen¥¥

59,38059,72559,380 million
59,725 million

%

90.7
89.3

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2024

-

0.00

-

60.00

60.00

Fiscal year ending March 31, 2025

-

60.00

60.00

Fiscal year ending March 31, 2025

0.00
(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
Net sales
Operating profit
Ordinary profit
to owners of parent
per share
Millions of yen% Millions of yen% Millions of yen

Six months ending
18,000
20.4
2,600
45.0
September 30, 2024
Full year
36,00010.5
5,20022.6(Note) Revision to the financial results forecast announced most recently:* Notes:(1) Significant changes in the scope of consolidation during the period:
Newly included:(Company name:Excluded:(Company name:% Millions of yen%

Yen

2,700

33.9

1,850

40.9

117.68

5,400
None

16.3

3,700

18.6

235.36None))(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: None

NoneYes(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:
16,357,214 shares
March 31, 2024:
16,357,214 shares
2) Number of treasury shares at the end of the period:
June 30, 2024:
645,807 shares
March 31, 2024:
643,807 shares
3) Average number of shares outstanding during the period:
Three months ended June 30, 2024:
Three months ended June 30, 2023:

15,711,907 shares
15,722,541 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Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets(Millions of yen)
As of March 31, 2024
AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Electronically recorded monetary claims operating
Accounts receivable - trade
Contract assets
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
Assets for rent, net
Buildings and structures, net
LandConstruction in progress
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Leasehold and guarantee deposits
Retirement benefit asset
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

As of June 30, 2024

7,166
1,270

7,380
1,209

1,7591,774

5,093
28
3,331
706
562
228
(1)
20,147

3,382
85
3,310
313
606
222
(1)
18,285

13,514
3,760
7,485
243
240
25,243228

13,858
4,026
7,679
133
266
25,964211

20,051
748
169
287
(0)
21,257
46,72966,87619,802
741
177
275
(0)
20,99547,17265,457

(Millions of yen)
As of March 31, 2024
Liabilities
Current liabilities
Accounts payable - trade
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Asset retirement obligations
Other
Total current liabilities
Non-current liabilities
Long-term accounts payable - other
Asset retirement obligations
Deferred tax liabilities
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
Foreign currency translation adjustment
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

As of June 30, 2024

2,889734
289

2,107384
395

64

16

2
1,293
5,273

0
1,377
4,282

24
46
1,804
2
1,878
7,151

24
45
1,722
2
1,795
6,077

2,855
9,424
45,172(2,428)55,0232,855
9,424
45,000(2,428)54,851

4,722

4,548

(20)
4,701
59,72566,876(20)
4,528
59,38065,457

Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the three months)(Millions 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
Dividend income
Rental income
Foreign exchange gains
Miscellaneous income
Total non-operating income
Non-operating expenses
Share-based remuneration expenses
Miscellaneous losses
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
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 owners of parent

For the three months
ended June 30, 2024
7,160
4,176
2,984
2,199
785

8,463
5,246
3,217
2,315
901

3
189
568
214

3255
48271

110
11988

110
12
1,160

0
12
1200

4
4
996
343
(9)
333
662
662

11
11
1,149
384
(5)
378
770
770

Quarterly Consolidated Statements of Comprehensive Income (For the three months)(Millions of yen)
For the three months
ended June 30, 2023
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustmentTotal other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to non-controllinginterests

For the three months
ended June 30, 2024
662

770

936
(5)
931
1,593

(173)
0(173)
597

1,593

597

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