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 8, 2024
Company name: FUKUSHIMA GALILEI CO. LTD.
Listing: Tokyo
Securities code: 6420
URL: https://www.galilei.co.jp
Representative: Go Fukushima
President
Inquiries: Yoshiyuki Yanagihara Executive Officer, Finance and Accounting Division Manager
Telephone: +81-6-6477-2011
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
28,659
11.0
3,040
(3.0)
3,478
(5.4)
2,590
(1.8)
June 30, 2023
25,807
11.9
3,134
85.7
3,676
58.4
2,638
66.8
(Note) Comprehensive income:Three months ended June 30, 2024:¥2,146 million [(28.9) %]Three months ended June 30, 2023:¥
3,019 million [104.9%]
Basic earnings
per share
Three months ended
June 30, 2024
June 30, 2023

Diluted earnings pershare
Yen

Yen

129.39131.52-(2) Consolidated Financial Position
Total assets
As ofJune 30, 2024
March 31, 2024
(Reference) Equity:

Millions of yen

Net assets

132,665
130,532
As of June 30, 2024:
As of March 31, 2024:

Capital adequacy ratio

Millions of yen¥¥

93,437
92,82692,752 million
92,714 million

Net assets per share%

Yen

69.9
71.0

4,633.29
4,631.37

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2024

-0.00

-

105.00105.00Fiscal year ending March 31, 2025

0.00

-105.00

105.00Fiscal year ending March 31, 2025
(Forecast)Year-end

Total(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- yen
Special dividend- yen
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 to Basic earnings
Net sales
Operating profit
Ordinary profit
owners of parentper share
Millions ofyen%Millions ofyen%

Six months ending
57,8248.06,207(6.4)
September 30, 2024
Full year
119,383
3.1
13,191(13.8)(Note) Revision to the financial results forecast announced most recently:* Notes:(1) Significant changes in the scope of consolidation during the period:(Company name:
Newly included:２
Excluded:(Company name:Millions ofyen%Millions ofyen%

Yen

6,434

(14.0)

4,640(12.5)

231.7913,575None(16.0)

9,784(20.5)

488.78Yes(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: None
(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: Yes
2) Changes in accounting policies due to other reasons: None
3) Changes in accounting estimates: None
4) Restatement: 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:
22,066,160 shares
March 31, 2024:
22,066,160 shares
2) Number of treasury shares at the end of the period:
June 30, 2024:
2,047,349 shares
March 31, 2024:
2,047,283 shares
3) Average number of shares outstanding during the period:
Three months ended June 30, 2024:
Three months ended June 30, 2023:

20,018,823 shares
20,063,113 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

As of June 30, 2024

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract
assetsElectronically recorded monetary claims operating
Merchandise and finished goods

54,23652,524

21,443

20,270

7,540

7,434

2,854

3,102

Work in process
Raw materials and supplies

1,412
4,123

2,010
5,075

Other
Allowance for doubtful accounts

1,386(191)

1,586
(195)

Total current assets

92,80591,810

Buildings and structures, net
Machinery, equipment and vehicles, net

8,968
1,525

8,883
1,520

Land
Other, net

7,881
687

10,618
1,319

Total property, plant and equipment

Non-current assets
Property, plant and equipment

19,063

22,343

Intangible assets
Investments and other assets

561

567

Investment securities
Deferred tax assets

12,184158

11,755254

Retirement benefit asset
Other

354
5,511

343
5,690

Allowance for doubtful accounts

(106)

(98)

Total investments and other assets

18,102

17,945

Total non-current assets

37,72740,855130,532

132,665

24,562

24,139

2,133
2,681

1,632
4,005

435
49

456
36

Other

5,483

7,046

Total current liabilities

35,34737,317

858

290

214

1,244
132

1,244
240

87
1387
42

Total assets
Liabilities
Current liabilities
Notes and accounts payable - trade
Income taxes payable
Provision for bonuses
Provision for product warranties
Provision for loss on construction contracts

Non-current liabilities
Deferred tax liabilities
Provision for retirement benefits for directors (andother officers)
Long-term accounts payable - other
Retirement benefit liability
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities

2,357

1,910

37,70539,227

(Millions of yen)
As of March 31, 2024

As of June 30, 2024

Net assets
Shareholders' equity
Share capital
Capital surplus

2,760
3,576

2,760
3,576

Retained earnings
Treasury shares

83,191(3,799)83,679(3,800)Total shareholders' equity

85,72886,216

6,449

5,909

450
87

561
65

6,986

6,536

112

684

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

92,82693,437130,532

132,665

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

For the three months
ended June 30, 2024

Net sales
Cost of sales

25,807
18,581

28,65920,898Gross profit

7,226

7,760

Selling, general and administrative expenses

4,091

4,720

Operating profit

3,134

3,040

Non-operating income
Interest income

3928

Dividend income
Rental income from buildings

41
24

60
22

Purchase discountsForeign exchange gains

37373

57240

Other

96

77

Total non-operating income

613

487

Provision of allowance for doubtful accounts
Compensation expenses

34
45

Other

31

44

Total non-operating expenses

7149

Non-operating expenses

Ordinary profit

3,676

3,478

Extraordinary income
Gain on sale of investment securities-181

Gain on sale of non-current assets
Gain on bargain purchase

97-

48

97

229

Profit before income taxes

Total extraordinary income

3,773

3,707

Income taxes - current

1,383

1,483

Income taxes - deferred

(244)

(370)

Total income taxes

1,138

1,113

Profit

2,634

2,594

Profit (loss) attributable to non-controlling interests
Profit attributable to owners of parent(4)

4

2,638

2,590

Quarterly Consolidated Statements of Comprehensive Income (For the three months)(Millions of yen)
For the three months
ended June 30, 2023
ProfitOther comprehensive incomeValuation difference on available-for-sale securities
Foreign currency translation adjustment

For the three months
ended June 30, 2024
2,634

2,594

330
66(539)113

Remeasurements of defined benefit plans, net of tax(11)(21)

Total other comprehensive income

385(448)

Comprehensive income

3,019

2,146

Comprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable to non-controllinginterests

3,020

2,140

(1)

5