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.

February 13, 2024

Consolidated Financial Results
for the Fiscal Year Ended December 31, 2023
(Under Japanese GAAP)
Company name:
Listing:
Securities code:
URL:
Representative:
Inquiries:

Fujiya Co., Ltd.
Tokyo Stock Exchange2211
https://www.fujiya-peko.co.jp/
Nobuyuki Kawamura, President and Representative Director
Masaki Sano, Managing Executive Officer, General Manager of General Affairs and Personnel
Department
Telephone:+81-3-5978-8100
Scheduled date of annual general meeting of shareholders:March 22, 2024
Scheduled date to commence dividend payments:
March 25, 2024
Scheduled date to file annual securities report:
March 22, 2024
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 fiscal year ended December 31, 2023 (from January 1, 2023 toDecember 31, 2023)(1) Consolidated operating results(Percentages indicate year-on-year changes.)

Net sales
Fiscal year ended

Operating profit

Profit attributable toowners of parent

Ordinary profit

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

December 31, 2023

105,5344.9

1,374(68.3)

2,104(62.0)

969(71.3)

December 31, 2022

100,614-

4,334

4.5

5,545

6.3

3,376

6.4

Note: Comprehensive income

For the fiscal year ended December 31, 2023:
For the fiscal year ended December 31, 2022:

Basic earnings
per share
Fiscal year endedYenDiluted earnings
per share¥2,473 million¥4,341 million

Ratio of ordinary
profit to total assets

Ratio of operating
profit to net sales%%%Return on equity

Yen[(43.0)%][(6.9)%]

December 31, 2023

37.62

-

1.7

2.5

1.3

December 31, 2022

130.99

-

6.3

7.0

4.3

Reference:

Share of profit (loss) of entities accounted for using equity method
For the fiscal year ended December 31, 2023:¥518 million
For the fiscal year ended December 31, 2022:¥534 million
Note: The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31, 2020) andother standards from the beginning of the consolidated fiscal year ended December 31, 2022. Therefore, the year-on-year change of net
sales for the fiscal year ended December 31, 2022 from the fiscal year ended December 31, 2021, which was prior to the application of
the above standards, is not presented. The real year-on-year change when the above standards are not applied is an increase of 12.8%.

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(2) Consolidated financial position
Total assets
As ofNet assets

Equity-to-asset ratioNet assets per share

Millions of yen

Millions of yen%

Yen

December 31, 2023

83,12560,64067.3

2,170.11

December 31, 2022

83,712

59,16565.6

2,130.59

Reference:

EquityAs of December 31, 2023:
As of December 31, 2022:¥55,936 million¥54,918 million(3) Consolidated cash flows
Cash flows fromoperating activities
Fiscal year ended

Cash flows frominvesting activities

Millions of yen

Cash flows fromfinancing activities

Millions of yen

Cash and cash
equivalents at end ofperiod

Millions of yen

Millions of yen

December 31, 2023

6,775

(7,967)(1,240)7,781

December 31, 2022

4,948

(7,739)(1,549)10,144

2. Cash dividends
Annual dividends per share
First
SecondThird
quarter-end quarter-end quarter-end

Fiscalyear-end

Ratio of
Total cash
Payout ratio dividends to net
dividends
assets(Consolidated)(Total)(Consolidated)

Total

Yen

Yen

Millions ofyen

%%-

30.00

30.00

773

22.9

1.40.00

-

30.00

30.00

773

79.7

1.40.00

-

30.00

30.00

Yen

Yen

Yen

Fiscal year ended
December 31, 2022

-0.00

Fiscal year ended
December 31, 2023-Fiscal year ending
December 31, 2024
(Forecast)-30.9

3. Consolidated financial result forecasts for the fiscal year ending December 31, 2024 (from January 1,2024 to December 31, 2024)(Percentages indicate year-on-year changes.)
Net sales
Millions of yen

Operating profit% Millions of yen

Profit attributable toowners of parent

Ordinary profit% Millions of yen%

YenFirst half

52,500

2.9

1,200

483.7

1,500

147.2

700

482.0

27.16

Full year

109,000

3.3

3,600

161.9

4,200

99.6

2,500

157.8

96.99

2% Millions of yen

Basic earnings
per share* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in change inscope of consolidation): None
(2) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations.: None(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
(3) Number of issued shares (common shares)(i)

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

25,784,659 shares

As of December 31, 2022

25,784,659 shares(ii) Number of treasury shares at the end of the period
As of December 31, 2023

8,779 shares

As of December 31, 2022

8,602 shares(iii) Average number of shares outstanding during the period
Fiscal year ended December 31, 2023

25,775,957 sharesFiscal year ended December 31, 2022

25,776,110 shares[Reference] Overview of non-consolidated financial results
Non-consolidated financial results for the fiscal year ended December 31, 2023 (from January 1, 2023 toDecember 31, 2023)(1) Non-consolidated operating results(Percentages indicate year-on-year changes.)

Net sales
Fiscal year ended

Operating profit

Millions of yen%

Millions of yen

December 31, 2023

77,386

3.7(572)

December 31, 2022

74,598-2,353

Basic earnings
per share
Fiscal year ended

Ordinary profit%

ProfitMillions of yen%

Millions of yen%-196

(94.6)

351(86.6)

(9.4)

3,638

(2.4)

2,627

28.1

Diluted earnings
per share
Yen

Yen

December 31, 202313.62-December 31, 2022

101.92-Note: The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31, 2020) andother standards from the beginning of the fiscal year ended December 31, 2022. Therefore, the year-on-year change of net sales for thefiscal year ended December 31, 2022 from the fiscal year ended December 31, 2021, which was prior to the application of the above
standards, is not presented. The real year-on-year change when the above standards are not applied is an increase of 8.5%.
<Reason for the differences in non-consolidated financial results from the previous fiscal year>
Net sales exceeded the results of the previous fiscal year and were 77,386 million yen (103.7% of those of the previous fiscal year).
On the other hand, in terms of profits, the Company made efforts to improve productivity by change of product specifications, laborsaving, etc., but there were a substantial surge in raw materials and energy prices and an increase in labor costs. Profits were significantly
affected by the deterioration in labor cost ratio due to the disposal of dead stock toward the inventory optimization and its accompanying
temporary decrease in production in the cakes business and by a decrease in sales volume due to the price revision in the confectionery
business. As a result, operating loss was 572 million yen (operating profit of 2,353 million yen in the previous fiscal year), ordinary3

profit was 196 million yen (5.4% of that of the previous fiscal year), and profit was 351 million yen (13.4% of that of the previous fiscalyear.)(2) Non-consolidated financial position
Total assets
As ofNet assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen%

Yen

December 31, 2023

60,15043,25171.9

1,677.98

December 31, 2022

61,54543,61070.9

1,691.91

Reference:

EquityAs of December 31, 2023:
As of December 31, 2022:¥43,251 million¥43,610 million* Financial results reports are exempt from audits conducted by certified public accountants or an auditcorporation.
* Explanation for proper use of financial forecasts and other special matters
The earnings forecasts and other forward-looking statements herein are based on information currently available
and certain assumptions deemed reasonable by the Company, and actual results may differ significantly fromthese forecasts due to various factors.

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