Note: This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of 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: MEIKO TRANS CO.,LTD.
Stock exchange listing: Nagoya
Code number: 9357
URL: https://www.meiko-trans.co.jp
Representative: Hiroshi Takahashi
President and legal representative
Contact: Shinji Oyama
Managing Executive Officer
Phone: +81-52-661-8134
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
Availability of supplementary briefing material on annual financial results: Yes
Schedule of annual financial results briefing session: No(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 to
Net sales
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
77,698(7.6)
5,265(15.7)
6,536
(6.1)
4,541
(2.1)
March 31, 2023
84,101
3.5
6,247
(3.3)
6,959
(1.9)
4,641
0.4
Fiscal year ended March 31, 2024:¥
13,478 million [83.7%](Note) Comprehensive income:Fiscal year ended March 31, 2023:¥
7,336 million [23.5%]
Basic earnings per Diluted earnings per Rate of return on
share
share
equityYen
Fiscal year ended
March 31, 2024
152.15
March 31, 2023
155.72(Reference) Equity in earnings (losses) of affiliated companies:

Yen

Ordinary profit tototal assets ratio

%

4.1
4.6
Fiscal year ended March 31, 2024:
Fiscal year ended March 31, 2023:

Operating profit to
net sales ratio

%

%

4.5
5.1
¥
¥

6.8
7.4
177 million(312) million(2) Consolidated Financial Position
Total assets
As ofMarch 31, 2024
March 31, 2023
(Reference) Equity:

Net assets

Millions of yen

151,026
138,975
As of March 31, 2024:
As of March 31, 2023:

Capital adequacy ratio

Millions of yen¥¥

121,792
108,935
116,804 million
104,540 million

Net assets per share

%

Yen

77.3
75.2

3,911.59
3,507.59(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

10,021
9,933(3,707)(10,050)(5,267)
1,811

21,40419,08112. Dividends
Annual dividends
1st
2nd
3rd
quarter-end quarter-end quarter-end

Year-end

Total

Fiscal year ended

Yen

Yen

Yen

Yen

March 31, 2023

-

17.00

-

17.00

34.00

March 31, 2024

-

18.00

-

20.00

38.00

-

20.00

-

20.00

40.00

Payoutratio

Total
dividends(consolidated)

Yen Millions of yen

Dividends
to netassets(consolidated)

%

%

1,013

21.8

1.0

1,134

25.0

1.0

Fiscal year ending
March 31, 2025

26.8

(Forecast)(Note) Breakdown of the year-end dividend for the fiscal year ended March 31, 2024 :Commemorative dividend- yenSpecial dividend- 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 Basic earnings per
Net sales
Operating profit
Ordinary profit
to owners of parent
share
Six months ending
September 30, 2024
Full year

Millions ofyen%Millions ofyen%Millions ofyen%Millions of
yen

%

Yen

38,000

(2.4)

2,300

(16.6)

3,000(12.9)

2,000(17.1)

66.98

77,000

(0.9)

4,900

(6.9)

6,300

(3.6)

4,450

(2.0)

149.02* Notes:(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes inscope of consolidation): No
New(Company name:)
Exclusion:(Company name:)(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: No
3) 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:
33,006,204 shares
March 31, 2023:
33,006,204 shares
2) Number of treasury shares at the end of the period:
March 31, 2024:
3,145,100 shares
March 31, 2023:
3,202,249 shares
3) Average number of shares outstanding during the period:
Fiscal Year ended March 31, 2024:
Fiscal Year ended March 31, 2023:

29,848,754 shares
29,803,997 shares

2

(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.)
Net sales
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%

60,00364,761

(7.3)
1.4

2,863
3,012

(5.0)
(28.5)

3,764
4,430

(15.0)(11.1)

2,716
3,053

(11.0)
5.6

Basic earnings per share Diluted earnings per share
Fiscal year ended
March 31, 2024
March 31, 2023

Yen

Yen

91.00
102.45-(2) Non-consolidated Financial Position
Total assets
As ofMarch 31, 2024
March 31, 2023
(Reference) Equity:

Net assets

Millions of yen

100,872
93,667
As of March 31, 2024:
As of March 31, 2023:

Capital adequacy ratio

Millions of yen¥¥

82,51075,18082,510 million
75,180 million

Net assets per share

%

Yen

81.8
80.3

2,763.15
2,522.50

2. Non-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.)
Net sales
Six months ending
September 30, 2024
Full year

Ordinary profit

Net income

Basic earnings per share

Millions of yen%

Millions of yen%

Millions of yen%

Yen

29,000

(2.1)

1,750

(9.4)

1,200

(15.0)

40.19

59,000

(1.7)

3,550

(5.7)

2,600

(4.3)

87.07

3

Consolidated Financial Statements
Consolidated Balance Sheets(Thousands of yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Electronically recorded monetary claims operating
Accounts receivable - trade
Income taxes refund receivable
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net
Land
Leased assets
Accumulated depreciation
Leased assets, net
Right of use assets
Accumulated depreciation
Right of use assets, net
Construction in progress
Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Software
Software in progress
Leased assets
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Retirement benefit asset
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

4

As of March 31, 2024

22,224,459
17,101

26,910,390
24,710682,388658,656

13,232,330
72,1574,203,090(25,723)
40,405,803

12,937,550
70,5953,619,305(37,350)
44,183,859

74,476,947(37,022,867)
37,454,079
17,433,655(13,222,510)
4,211,145
28,193,780
1,062,117(648,760)
413,357
4,011,538(2,945,335)
1,066,202
108,2142,529,669(1,743,411)
786,258
72,233,038

75,375,477(39,124,829)
36,250,648
17,904,186(13,719,884)
4,184,301
28,223,769
1,085,994(625,079)
460,914
1,279,130(671,816)
607,313
17,282
2,763,899(1,998,463)
765,435
70,509,664

139,982
292,525
3,004
38,988474,500

105,156
422,927
14,25333,263575,601

21,854,263
590,610787,542
1,157,672
1,666,463(194,884)
25,861,667
98,569,207
138,975,010

31,578,924
555,230
573,507
1,510,111
1,734,943(194,882)
35,757,834
106,843,100
151,026,960

(Thousands of yen)
As of March 31, 2023
Liabilities
Current liabilities
Accounts payable - trade
Short-term borrowings
Current portion of long-term borrowings
Lease liabilities
Income taxes payable
Provision for bonuses
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Lease liabilities
Deferred tax liabilities
Provision for retirement benefits for directors (andother officers)
Retirement benefit liability
Asset retirement obligations
Accrued directors' and corporate auditors'
retirement benefits
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
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

5

As of March 31, 2024

4,750,701
3,300,000
589,756
836,449
435,361
1,752,078
3,187,923
14,852,270

4,933,244
554,756
419,356
927,556
1,645,257
3,181,103
11,661,273

5,603,552
703,9121,724,813

5,050,712
702,618
4,532,197

9,953

4,211

4,164,620
2,038,138

4,208,358
2,067,410

179,625

26,225763,014
15,187,629
30,039,900

981,790
17,573,524
29,234,797

2,350,704
1,597,043
93,626,812(2,304,891)
95,269,669

2,350,704
1,597,043
97,469,563(2,228,615)
99,188,696

8,346,825

14,805,154

832,574
91,0009,270,399
4,395,041
108,935,110
138,975,010

2,548,949
261,741
17,615,845
4,987,619
121,792,162
151,026,960

Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income(Thousands of yen)
For the fiscal year
ended March 31, 2023
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity
methodForeign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
Share of loss of entities accounted for using equity
methodOther
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of investment securities
Gain on sale of non-current assets
Total extraordinary income
Extraordinary losses
Expenses on dismantlement of noncurrent assets
Loss on valuation of investment securities
Impairment losses
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

6

For the fiscal year
ended March 31, 2024

84,101,307
68,200,342
15,900,964
9,653,792
6,247,172

77,698,419
62,017,173
15,681,245
10,415,527
5,265,717

37,450774,087

256,536
835,508-

177,631

74,354
186,043
1,071,935

169,668
1,439,346

34,639-28,851
125,700

312,082-

12,818359,540
6,959,567

14,467
169,019
6,536,044

29,69429,694

119,007
84,743203,751

176,581
3,362
179,9446,809,317
1,731,958
89,147
1,821,105
4,988,211
347,098
4,641,113

133,012
133,0126,606,783
1,808,768(11,302)
1,797,465
4,809,318
267,719
4,541,598

Consolidated Statements of Comprehensive Income(Thousands of yen)
For the fiscal year
ended March 31, 2023
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
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 income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to non-controllinginterests

7

For the fiscal year
ended March 31, 2024

4,988,211

4,809,318

671,189
1,753,355(123,028)

6,661,425
1,777,734
178,356

46,996

51,182

2,348,512
7,336,724

8,668,698
13,478,017

6,871,435

12,887,044

465,289

590,972

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

Balance at beginningof period
Changes during
periodDividends ofsurplusProfit attributable toowners of parent
Purchase of treasury
sharesNet changes in
items other thanshareholders' equity
Total changes
during period
Balance at end of
periodShare capital

Capital surplus

2,350,704

1,597,043

Retainedearnings

Treasury shares

Total
shareholders'equity(2,304,833)

91,746,264

90,103,348(1,117,650)(1,117,650)

4,641,113

4,641,113
(58)

(58)

-

-

3,523,463(58)

3,523,404

2,350,704

1,597,043

93,626,812(2,304,891)

95,269,669

Accumulated other comprehensive income
Total
Valuation
Foreign currency Remeasurements accumulated Non-controlling Total net assets
difference oninterests
translationof defined
otheravailable-for-saleadjustment
benefit plans comprehensive
securities
incomeBalance at beginningof period
Changes during
periodDividends ofsurplusProfit attributable toowners of parent
Purchase of treasury
sharesNet changes in
items other thanshareholders' equity
Total changes
during period
Balance at end of
period7,704,605(870,030)

205,5037,040,078

3,935,234

102,721,576(1,117,650)
4,641,113(58)
642,219

1,702,604(114,502)

2,230,321

459,806

2,690,128

642,219

1,702,604(114,502)

2,230,321

459,806

6,213,533

8,346,825

832,574

91,0009,270,399

4,395,041

108,935,110

8

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

Balance at beginningof period
Changes during
periodDividends ofsurplusProfit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesChange in scope of
consolidation
Net changes in
items other thanshareholders' equity
Total changes
during period
Balance at end of
periodShare capital

Capital surplus

2,350,704

1,597,043

Retainedearnings

Treasury shares

Total
shareholders'equity(2,304,891)

95,269,669

93,626,812(1,044,270)(1,044,270)

4,541,598

4,541,598
(308)

(308)

76,58476,584345,423

345,423--

3,842,751

76,276

3,919,027

2,350,704

1,597,043

97,469,563(2,228,615)

99,188,696

Accumulated other comprehensive income
Total
Valuation
Foreign currency Remeasurements accumulated Non-controlling Total net assets
difference oninterests
translationof defined
otheravailable-for-saleadjustment
benefit plans comprehensive
securities
incomeBalance at beginningof period
Changes during
periodDividends ofsurplusProfit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesChange in scope of
consolidation
Net changes in
items other thanshareholders' equity
Total changes
during period
Balance at end of
period8,346,825

832,574

91,0009,270,399

4,395,041

108,935,110(1,044,270)
4,541,598(308)
76,584345,423
6,458,329

1,716,375

170,741

8,345,445

592,578

8,938,024

6,458,329

1,716,375

170,741

8,345,445

592,578

12,857,052

14,805,154

2,548,949

261,741

17,615,845

4,987,619

121,792,162

9

Consolidated Statements of Cash Flows(Thousands of yen)
For the fiscal year
ended March 31, 2023
Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment losses
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for retirement benefits
for directors (and other officers)
Decrease (increase) in net defined benefit
asset/liability
Interest and dividend income
Interest expenses
Foreign exchange losses (gains)Share of loss (profit) of entities accounted for using
equity method
Loss (gain) on sale of non-current assets
Loss (gain) on sale of investment securities
Loss (gain) on valuation of investment securities
Decrease (increase) in trade receivables
Increase (decrease) in trade payables
Decrease (increase) in consumption taxes refund
receivable
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Income taxes refund
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 equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sale of investment securities
Loan advances
Proceeds from collection of loans receivable
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Proceeds from short-term borrowings
Repayments of short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Repayments of lease liabilities
Net decrease (increase) in treasury shares
Dividends paid
Dividends paid to non-controlling interests
Net cash provided by (used in) financing activities

10

For the fiscal year
ended March 31, 2024

6,809,317
3,366,272(3,384)
2,943

6,606,783
3,549,898
133,012
10,225(106,821)

1,541(5,741)(101,586)(53,415)(811,537)
34,639(111)(1,092,045)
28,851(127)

312,082(177,631)(29,694)
3,362
1,813,793(909,436)(84,743)(119,007)
714,111(96,223)

686,955

258,388

73,47911,248,637
841,840(34,639)(2,217,311)
95,432
9,933,959

696,589
10,262,101
1,122,401(28,851)(1,406,586)
72,15910,021,223(3,764,673)
2,378,501(8,338,000)
36,809(169,082)(371,893)
71,064(1,500)40,93067,777(10,050,066)(8,467,613)
6,319,154(1,639,663)
98,147(160,687)(99,154)
151,034
35,38056,154(3,707,248)

3,000,000(2,200,000)
3,100,000(701,823)(263,804)(58)(1,117,650)(5,601)
1,811,062(3,300,000)(587,840)(329,427)(308)(1,044,270)(5,482)(5,267,328)

Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Increase in cash and cash equivalents resulting from
inclusion of subsidiaries in consolidation
Cash and cash equivalents at end of period

11675,607770,694

2,370,563
16,711,198

1,817,340
19,081,761-

505,283

19,081,761

21,404,386