Note: This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the eventof any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results
for the Year Ended March 31, 2024
[Japanese GAAP]May 14, 2024
Company name:
Tonami Holdings Co., Ltd.
Stock exchange listing: Tokyo
Code number:
9070
URL:
http://www.tonamiholdings.co.jp
Representative:
Kazuo Takata
President and Representative Director
Contact:
Eizaburo Saito
Executive Officer and General Manager of Finance Department
Telephone:+81-766-32-1073
Scheduled date of Annual General Meeting of Shareholders:June 26, 2024
Scheduled date of commencing dividend payments:
June 27, 2024
Scheduled date of filing annual securities report:
June 26, 2024
Regarding the preparation of supplementary explanatory materials
Nofor financial results:
Schedule of annual financial results briefing session:
Yes (for instiutional investors and analysts)(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2024 (April 1, 2023 to March 31, 2024)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable toOperating revenues
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Fiscal year ended
March 31, 2024
142,0720.1
5,774(21.8)
6,795(17.0)
4,061(24.7)
March 31, 2023
(Note) Comprehensive income:

141,920
4.8
7,381
Fiscal year ended March 31, 2024:
Fiscal year ended March 31, 2023:

0.2
¥
¥

8,189
3.6
6,286 million
8,031 million

Basic earnings per Diluted earnings per Rate of return on
shareshareequity
Fiscal year ended
March 31, 2024

5,391(21.7) %]72.4%][[Ordinary profit tototal assets ratio

5.5

Operating profit tonet sales ratio

Yen

Yen%

%

%

448.01

-4.5

4.1

4.1

5.2
¥¥

5.2
142 million
151 million

March 31, 2023
594.99(Reference) Equity in earnings (losses) of affiliated companies:

6.4
Fiscal year ended March 31, 2024:
Fiscal year ended March 31, 2023:(2) Consolidated Financial Position
Total assets
As ofMarch 31, 2024
March 31, 2023
(Reference) Equity:

Net assets

Capital adequacy ratio

Net assets per share

Millions of yen

Millions of yen%

Yen

169,244

92,901

54.5

10,167.52

87,861
92,190 million
87,298 million

53.7

9,634.57

162,511
As of March 31, 2024:
As of March 31, 2023:¥¥(3) Consolidated Cash Flows
Cash flows fromoperating activities
Fiscal year ended
March 31, 2024
March 31, 2023

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at the endof period

Millions of yen

Millions of yen

Millions of yen

Millions of yen

10,722
11,578(5,475)(2,539)(5,482)(4,691)

34,09034,325

2. Dividends
Annual dividends
1st2nd3rdquarter-end quarter-end quarter-end

Year-end

Total
dividends

Total

Fiscal year ended

Yen

Yen

Yen

Yen

March 31, 2023

-

60.00

-

80.00

140.00March 31, 2024

-

70.00

-

70.00

140.00

-

80.00

-

80.00

160.00

Dividends
to netassetsPayoutratio(consolidated)

Yen Millions of yen(consolidated)

%%

1,268

23.5

1.5

1,269

31.2

1.4

Fiscal year ending
March 31, 202530.2(Forecast)(Note) Breakdown of the year-end dividend for the fiscal year ended March 31, 2024 :Ordinary dividend
70.00 yen
Commemorative dividend
10.00 yen
3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2025 (April 1, 2024 to March 31, 2025)(% indicates changes from the previous corresponding period.)
Profit attributable to Basic earnings
Operating revenues
Operating profit
Ordinary profit
owners of parent
per share
Millions ofyen%Millions ofyen%Millions ofyen%Millions ofyen%

YenFirst half

75,5008.5

3,300

12.63,500

4.9

2,400

6.4

264.76

Full year

156,000

9.8

6,800

17.7

7,200

6.0

4,800

18.2

529.53* Notes:(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes inscope of consolidation): No(2) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: No
2) Changes in accounting policies other than 1) above:No3) Changes in accounting estimates:No4) Retrospective restatement:No(3) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
March 31, 2024:
9,761,011 shares
March 31, 2023:
9,761,011 shares
2) Number of treasury shares at the end of the period:
March 31, 2024:
693,866 shares
March 31, 2023:
700,010 shares
3) Average number of shares outstanding during the period:
Fiscal Year ended March 31, 2024:
Fiscal Year ended March 31, 2023:

9,064,670 shares
9,061,497 shares(Reference) Summary of Non-consolidated Financial Results
1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2024 (April 1, 2023 to March 31, 2024)(1) Non-consolidated Operating Results(% indicates changes from the previous corresponding period.)
Operating revenues
Fiscal year ended
March 31, 2024
March 31, 2023

Operating profit

Ordinary profit

Net income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

3,105(8.1)

2,094(11.3)

2,611

(5.8)

2,538(3.7)

3,377

(4.1)

2,362(5.8)

2,773

(1.8)

2,636(4.3)

Basic earnings per share

Diluted earnings per share

Fiscal year ended
March 31, 2024

Yen

Yen

280.02-March 31, 2023

290.87-(2) Non-consolidated Financial Position
Total assets
As ofMarch 31, 2024
March 31, 2023
(Reference) Equity:

Net assets

Capital adequacy ratio

Net assets per share

Millions of yen

Millions of yen%

Yen

93,57847,19450.4

5,204.01

44,68247,194 million
44,682 million

49.4

4,930.29

90,500
As of March 31, 2024:
As of March 31, 2023:¥¥※Financial results are outside the scope of audit by certified public accountants and audit corporations.
※Explanation for the appropriate use of performance forecasts and other special notes:- The statements regarding forecast of financial results in this report are based on the information that is available to theCompany, as well as certain assumptions that are deemed to be reasonable by management, and they are not meant tobe a commitment by the Company. Therefore, there might be cases in which actual results differ materially from forecast
values due to various factors.

Consolidated Financial Statements
Consolidated Balance Sheets(Millions of yen)
As of March 31, 2023Assets
Current assets
Cash and deposits
Notes receivable - trade
Accounts receivable and contract assets
Investments in leases
Inventories
Income taxes refund receivable
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
Land
Leased assets, net
Construction in progress
Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Investment securities
Distressed receivables
Deferred tax assets
Retirement benefit asset
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

As of March 31, 2024

34,775
1,786
21,5335804
561
2,812(136)62,14434,538
1,338
21,913
37
813
296
2,924
(129)
61,732

19,9893,245
44,433
6,845
756
910
76,18019,922
3,372
46,175
7,458
696
969
78,595

116
762
879

2,057
1,021
3,079

17,592
36
801
93
5,389
(606)
23,307
100,366
162,511

20,28533742
190
5,211(625)
25,836
107,511
169,244(Millions of yen)
As of March 31, 2023
Liabilities
Current liabilities
Notes payable - trade
Trade accounts payable
Short-term borrowings
Current portion of long-term borrowings
Current portion of bonds payable
Lease liabilities
Income taxes payable
Accrued consumption taxes
Provision for bonuses
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Lease liabilities
Deferred tax liabilities for land revaluation
Provision for retirement benefits for directors (andother officers)
Provision for loss on guarantees
Retirement benefit liability
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
Revaluation reserve for landRemeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

As of March 31, 2024

1,116
12,953
8,470
607
2,556
1,597
1,324
1,4755,247
35,3471,134
12,314
8,300
2,942
50
2,752
1,331
785
1,482
6,134
37,22810,000
7,520
5,221
3,489

10,000
6,396
5,736
3,467

219

191

63
7,375
4,817
595
39,302
74,649

73
6,232
5,798
1,219
39,114
76,343

14,182
11,70850,549(2,079)74,36014,182
11,71053,300(2,051)
77,141

7,347

8,788

5,782
(191)
12,938562
87,861
162,511

5,732
527
15,048711
92,901
169,244

Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income(Millions of yen)
For the fiscal yearended March 31, 2023
Operating revenue
Operating costs
Operating gross profit
Selling, general and administrative expenses
Personnel expenses
Retirement benefit expenses
Provision for bonuses
Provision for retirement benefits for directors (andother officers)
Depreciation
Taxes and dues
Other
Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Rental income from buildings
Share of profit of entities accounted for using equity
methodForeign exchange gains
Compensation income
OtherTotal non-operating income
Non-operating expenses
Interest expenses
Provision of allowance for doubtful accounts
OtherTotal non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Reversal of allowance for doubtful accounts
Gain on step acquisitions
Other
Total extraordinary income
Extraordinary losses
Loss on sale of non-current assets
Loss on retirement of non-current assets
Loss on valuation of investment securities
Impairment losses
Loss on extinguishment of tie-in sharesCompany funeral expenses
Other
Total extraordinary losses
Profit before income taxesFor the fiscal year
ended March 31, 2024

141,920
126,980
14,939142,072
128,032
14,039

4,670
102
175

4,900
113
184

31

32

137
789
1,960
7,558
7,381

184
781
2,397
8,264
5,774

168
322
117

168
358
119

151

142

33
345
1,139

38
178
317
1,322

234
62
34
331
8,189

238
22
41
301
6,795

198
34
15
249

191
129
66
19
408

13
151
60
51
36
50
24
388
8,050

31
80
125
391
27
655
6,548

(Millions of yen)
For the fiscal year
ended March 31, 2023
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

2,560
17
2,578
5,472
80
5,391

For the fiscal year
ended March 31, 2024
2,336
90
2,427
4,120
59
4,061

Consolidated Statements of Comprehensive Income(Millions of yen)
For the fiscal year
ended March 31, 2023
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive incomeComprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable to non-controllinginterests

For the fiscal year
ended March 31, 2024

5,472

4,120

2,766(206)

1,439
719

0

6

2,559
8,031

2,165
6,286

7,950

6,221

8164

Consolidated Statements of Changes in Equity
For the fiscal year ended March 31, 2023
(Millions of yen)
Shareholders' equity

Balance at beginningof period
Changes during
periodDividends ofsurplusProfit attributable toowners of parent
Purchase of treasury
sharesRestricted stockcompensationReversal ofrevaluation reserve
for landNet changes in
items other thanshareholders' equity
Total changes
during period
Balance at end ofperiod

Share capital

Capital surplus

14,182

11,708Retainedearnings

Treasury shares

Total
shareholders'equity(2,076)69,982

46,167(1,087)(1,087)

5,391

5,391
(2)

(2)
-77

77

-

-

4,381

(2)

4,378

14,182

11,70850,549(2,079)74,360

Accumulated other comprehensive income
TotalValuation
Remeasurements accumulated Non-controlling Total net assets
difference on
Revaluationinterestsof definedotheravailable-for-sale reserve for land
benefit plans comprehensive
securities
incomeBalance at beginningof period
Changes during
periodDividends ofsurplus
Profit attributable toowners of parent
Purchase of treasury
sharesRestricted stockcompensation
Reversal ofrevaluation reserve
for landNet changes in
items other thanshareholders' equity
Total changes
during period
Balance at end of
period

4,582

5,859

14

10,456481

80,920(1,087)
5,391
(2)
(77)

(77)

-

2,765-

(206)

2,558

80

2,639

2,765

(77)

(206)

2,481

80

6,940

7,347

5,782(191)

12,938562

87,861

For the fiscal year ended March 31, 2024
(Millions of yen)
Shareholders' equity

Balance at beginningof period
Changes during
periodDividends ofsurplus
Profit attributable toowners of parent
Purchase of treasury
sharesRestricted stockcompensation
Reversal ofrevaluation reserve
for landNet changes initems other thanshareholders' equity
Total changes
during period
Balance at end ofperiod

Share capital

Capital surplus

14,182

11,708Retainedearnings

Treasury shares

Total
shareholders'equity(2,079)74,36050,549(1,359)(1,359)

4,061

4,061

1(3)

(3)

31

33

49

49

-1

2,751

27

2,780

14,182

11,71053,300(2,051)

77,141

Accumulated other comprehensive income
TotalValuation
Remeasurements accumulated Non-controlling Total net assets
difference on
Revaluationinterestsof defined
otheravailable-for-sale reserve for land
benefit plans comprehensive
securities
incomeBalance at beginningof period
Changes during
periodDividends ofsurplus
Profit attributable toowners of parent
Purchase of treasury
sharesRestricted stockcompensation
Reversal ofrevaluation reserve
for landNet changes in
items other thanshareholders' equity
Total changes
during period
Balance at end ofperiod

7,347

5,782(191)

12,938562

87,861(1,359)4,061(3)33(49)

(49)

-

1,441

-

719

2,160

148

2,309

1,441

(49)

719

2,110

148

5,040

8,788

5,732

527

15,048711

92,901

Consolidated Statements of Cash Flows(Millions of yen)
For the fiscal year
ended March 31, 2023
Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment losses
Loss (gain) on sale and retirement of property, plantand equipment
Loss (gain) on sale of investment securities
Loss (gain) on valuation of investment securities
Gain on step acquisitions
Amortization of goodwill
Share of loss (profit) of entities accounted for using
equity method
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for loss on guarantees
Increase (decrease) in provision for retirement benefits
for directors (and other officers)
Increase (decrease) in retirement benefit liability
Decrease (increase) in retirement benefit asset
Increase (decrease) in provision for bonuses
Interest and dividend income
Interest expenses
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in accrued consumption taxes
Decrease (increase) in other current assets
Increase (decrease) in other current liabilities
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits
Purchase of property, plant and equipmentProceeds from sale of property, plant and equipment
Purchase of investment securities
Proceeds from sale of investment securities
Proceeds from purchase of shares of subsidiaries
resulting in change in scope of consolidation
Purchase of shares of subsidiaries resulting in change
in scope of consolidation
Loan advances
Proceeds from collection of loans receivable
Other, net
Net cash provided by (used in) investing activities

For the fiscal year
ended March 31, 2024

8,050
4,994
51

6,548
5,201
391

(34)

(80)

(8)
60
34(129)125(66)129(151)(142)

31(49)

10
10(16)

(44)

(115)
6(4)
(491)
234
183
(43)
751
415
(58)
(90)
78
13,830512(234)(2,529)
11,578

(179)
(96)
(9)
(526)
238
530
2(739)
(560)
622
384
1,166
12,785563(237)(2,388)
10,722(216)
186(2,317)331(248)
12(241)379(2,946)
339
(477)
233

-

326-

(2,660)

(455)
366
(199)
(2,539)

(584)
497
(341)
(5,475)

(Millions of yen)
For the fiscal year
ended March 31, 2023
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Repayments of lease liabilities
Purchase of shares of subsidiaries not resulting inchange in scope of consolidation
Purchase of treasury shares
Dividends paid
Dividends paid to non-controlling interests
Net cash provided by (used in) financing activities
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Increase in cash and cash equivalents resulting frommerger with unconsolidated subsidiaries
Cash and cash equivalents at end of period

For the fiscal year
ended March 31, 2024

(50)
(711)
(2,838)

(350)
50
(756)
(2,906)

-

(155)

(2)
(1,087)(0)(4,691)
4,347
29,975(3)(1,359)(0)(5,482)(235)
34,3252-

34,32534,090