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 9, 2024
Company name: Restar Corporation
Listing: Tokyo
Securities code: 3156
URL: https://www.en.restargp.com/
Representative: Tomoharu Asaka
Representative Director Vice President
Inquiries:
Atsuki Ishida
Corporate OfficerTelephone: +81-3-3458-4618
Scheduled date to commence dividend payments: Availability of supplementary briefing material on quarterly financial results: Yes
Schedule of quarterly financial results briefing session: No(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Three Months Ended June 30, 2024 (April 1, 2024 to June 30, 2024)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
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 endedJune 30, 2024
135,425
13.3
4,624
67.8
3,530
101.4
3,013
340.8
June 30, 2023
119,5636.2
2,755(32.3)
1,752(52.3)
683(69.3)(Note) Comprehensive income:Three months ended June 30, 2024:¥ 3,976 million [ 152.5%]
Three months ended June 30, 2023:¥ 1,574 million [ (23.1) %]Basic earnings
per share
Three months ended
June 30, 2024
June 30, 2023

Diluted earnings pershare
Yen

Yen

100.22
22.74

99.98
22.41

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

Millions of yen

Net assets
Millions of yen

283,241
291,704
As of June 30, 2024:¥ 85,949 million
As of March 31, 2024:¥ 84,201 million―1―93,18391,024

Capital adequacy ratio

Net assets per share%

Yen

30.3
28.9

2,858.52
2,800.38

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2024

-55.00-60.00115.00Fiscal year ending March 31, 2025

60.00

-60.00120.00Fiscal year ending March 31, 2025
(Forecast)(Note) Revision to the forecast for dividends announced most recently:

Year-endTotalNo

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.)
Net sales
Millions of yen%

Profit attributable to Basic earnings
owners of parent
per share

Operating profit

Ordinary profit

Millions of yen

Millions of yen%

10,500No8.4%

Full year
560,000 9.3
16,000 0.4(Note) Revision to the financial results forecast announced most recently:

Millions of yen%

Yen

8,000 14.2

266.06* Notes:(1) Significant changes in the scope of consolidation during the period: Yes
Newly included:(Company name:)
Excluded:
3(Company name: Restar Electronics Corporation)(Company name: Restar Communications Corporation )(Company name: Vitec Enesta Co., Ltd.
)
(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: No(3) Changes in accounting policies, changes in accounting estimates, and restatement
1) Changes in accounting policies due to revisions to accounting standards: Yes
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
June 30, 2024: 30,072,643 shares
March 31, 2024: 30,072,643 shares
2) Number of treasury shares at the end of the period:
June 30, 2024: 4,680 shares
March 31, 2024: 4,680 shares
3) Average number of shares outstanding during the period:
Three months ended June 30, 2024: 30,067,963 shares
Three months ended June 30, 2023: 30,068,063 shares* Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public
accountants or an audit firm: Yes(voluntary)* Proper use of earnings forecasts, and other special matters―2―(1) Explanation of Operating Results
Forward-looking statements in the text are based on judgments made as of the end of the first quarter of the current
consolidated fiscal year.
During the first quarter of the fiscal year under review, the Japanese economy experienced a trend of moderate
recovery, mainly due to improvements in the employment and income environment and an expansion in inbounddemand, despite the impact of price increases. Meanwhile, the outlook remained uncertain due to geopolitical risks
including the worsening situation in the Middle East and the prolonged conflict between Russia and Ukraine, and theprospect of continued price increases, the interest rate trends in Europe, the United States, and Japan, and the outlook
for the Chinese economy in terms of the economic environment. In the semiconductor market, despite signs of arecovery in capital investment trends, demand for various products remains mixed.
Under these circumstances, on April 1, 2024, the Company implemented an absorption-type merger with Restar
Electronics Corporation, Restar Communications Corporation, and Vitec Enesta Co., Ltd. with Restar Holdings
Corporation as the surviving company. Through the transition from a pure holding company to an operating company
as the new Restar Corporation, the Company will promote the optimal allocation of management resources and reformof the profit structure with the aim of further strengthening the Group and expanding its business over the medium tolong term. In May 2024, the Company announced its first Medium-Term Management Plan since the businessintegration in 2019. Under the basic policies aimed at growth through the fiscal year ending March 31, 2027, we will
establish a structure with four business units and work to further expand our business and improve profitability toachieve the goals of the Medium-Term Management Plan.
We will continue to pursue M&A and capital alliances in Japan and overseas in addition to Group synergies aiming
to be “The Electronics Value Platformer” that accommodates all manner of stakeholder needs in order to realize thesustainable development of the world and society leveraging information and technology and to enhance our corporatevalue.
(Overview of Consolidated Operating Results)
Three months ended June 30,2023

Three months ended June 30,
2024

119,563

135,425

13.3%

Operating profit

2,755

4,624

67.8%

Ordinary profit

1,752

3,530

101.4%

683

3,013

340.8%(Million yen)
Net sales

Profit attributable to owners ofparent

Change (%)- Performance Highlights
Consolidated net sales for the first quarter of the fiscal year under review increased, mainly due to sales growth inautomotive applications, in addition to improved performance in the EMS business as the smartphone market
recovered, and consolidation of subsidiaries (Restar WPG Corporation in July 2023 and Restar Embedded Solutions
Corporation in January 2024). Operating profit increased mainly due to sales growth in the Devices Business Unit,and ordinary profit also increased. Profit attributable to owners of parent increased due in part to tax effectaccompanying the business organization implemented in April 2024.
As a result, net sales for the first three months of the fiscal year under review were ¥135,425 million, up 13.3% yearon year, operating profit was ¥4,624 million, up 67.8% year on year, ordinary profit was ¥3,530 million, up 101.4%
year on year, and profit attributable to owners of parent was ¥3,013 million, up 340.8% year on year.

―3―

(Operating Results by Reportable Segment)
The Group has two reportable segments; the Devices Business Unit and the System Business Unit, following thebusiness reorganization in April 2024.
Effective from the first quarter of the fiscal year under review, the business segments to be included as reportable
have been changed, and comparisons and analysis for the first quarter of the fiscal year under review are based on thenew segments.
(1) Devices Business Unit
ReportableSegment

Business

Business Description
・Sales of semiconductors, electronic components, and related products in Japan andoverseas; system proposals with a variety of line card combinations; provision ofDevices

high-value-added solutions and technical support specializing in liquid crystal
systems and overseas suppliers; design and manufacturing; LSI design development
and support; and reliability test service

Devices
Business Unit

・ Operation and proposal of optimal supply chain management through global
procurement/trading for electronics and entrustment service for related operations
Electronics manufacturing service for electronic components, modules, etc., withEMS(Million yen)cutting-edge technology, procurement, production management and quality assurance
at our factories
Three months ended June 30, Three months ended June 30,
2023
2024

Change (%)

Net sales

111,855

126,645

13.2%

Devices

108,919

119,668

9.9%

EMS

2,935

6,976

137.7%

2,213

3,540

60.0%

Segment profit- Performance Overview
In the devices business, sales increased. This was due to strong sales for automotive applications and consumer
devices and the addition of consolidated subsidiaries (Restar WPG Corporation in July 2023 and Restar Embedded
Solutions Corporation in January 2024) although sales of products for industrial equipment remained weak. Demandfor automotive product also remained strong in global procurement/trading. In the EMS business, sales increased due
to growth in sales for mainstay smartphones applications. Segment profit increased due to higher sales in the devicesand EMS businesses.
As a result, the Devices Business Unit recorded net sales of ¥126,645 million, up ¥13.2% year on year, and segment
profit of ¥3,540 million, up 60.0% year on year.

―4―(2) System Business Unit
ReportableSegment

Business

Business Description
・Proposal, design, construction, and maintenance of solutions for video, audio, andcommunications in various fields such as broadcasting, business, education, medicalcare/life sciences, and public facilities

SystemSolution

・Development and manufacture of cashless payment terminals that combine our basic
digital and communications technologies with near-field communication (NFC)
technologies and sales of overseas made payment terminals; applicationdevelopment; development, manufacture, and sales of Individual Number
authentication-related devices

System Business・Community coexistence-based operation and management services for theintroduction and popularization of renewable energy from our own solar power

Unitstations (in Japan and overseas) and wind power stations, etc.
Ecosolution

・Electric power supply to public facilities and private-sector companies primarily
using renewable energy, and electric power consulting including local production
and consumption of the power for community revitalization
・Production and sale, as well as system consulting, of vegetables made in completely
closed vegetable factories to commercial and retail markets including convenience
stores, supermarkets, and food service chains(Million yen)
Net sales

Three months ended June 30, Three months ended June 30,2023
2024

Change (%)

7,708

8,780

13.9%

System Solution

3,960

3,402(14.1%)

Eco-solution

3,747

5,378

43.5%

Segment profit

907

1,404

54.7%

- Performance Overview
In the system solution business, sales decreased. This was due to weak sales mainly for system equipment, such asbroadcasting and access control terminals. In the eco-solution business, sales increased owing to strong sales ofelectricity in addition to an expansion of solar power generation in Japan, and an increase in the number of newcontracts in the power purchase agreement (PPA) business. Segment profit increased due to the contribution of owned
power sources by the eco-solution business, despite a decrease in income due to lower sales in the system solution
business. As a result, the System Business Unit recorded net sales of ¥8,780 million, up 13.9% year on year, andsegment profit of ¥1,404 million, up 54.7% year on year.

―5―(2) Explanation of Financial Position
Assets, Liabilities and Net Assets
Total assets at the end of the first quarter of the fiscal year under review decreased by ¥8,462 million from the endof the previous fiscal year to ¥283,241 million. This was mainly due to a decrease in notes receivable - trade andaccounts receivable - trade of ¥1,352 million, an increase in electronically recorded monetary claims - operating of¥1,333 million, a decrease in merchandise and finished goods of ¥5,122 million, and a decrease in accounts receivable
included in other under current assets of ¥3,620 million.
Liabilities decreased by ¥10,620 million from the end of the previous fiscal year to ¥190,058 million. This wasmainly due to a decrease of ¥2,488 million in notes and accounts payable - trade, a decrease of ¥18,724 million in
short-term borrowings, and an increase of ¥10,320 million in long-term borrowings.
Net assets increased by ¥2,158 million from the end of the previous fiscal year to ¥93,183 million. This was mainly
due to an increase in retained earnings resulting from profit attributable to owners of parent of ¥3,013 million, and adecrease in capital surplus resulting from dividends of ¥1,706 million.

(3) Explanation of Consolidated Earnings Forecasts and Other Forward-looking Statements
Consolidated earnings forecast for the current fiscal year
There is no change to the consolidated earnings forecast for the current fiscal year.

―6―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 receivable - trade

39,919417

39,639343

Accounts receivable - trade
Electronically recorded monetary claims operating
Contract assets
Merchandise and finished goods

88,94087,662

16,043

17,37649
68,158228
63,035Work in process
Raw materials and supplies

980
1,632

1,133
1,781

Other
Allowance for doubtful accounts

18,334(124)

14,605(129)

Total current assets

234,350

225,679

16,684(8,202)

17,065(8,533)

8,481

8,531

Other

20,057

20,360Total property, plant and equipment

28,53828,892

5,460

5,317

Non-current assets
Property, plant and equipment
Leased assetsAccumulated depreciation
Leased assets, net

Intangible assets
Goodwill
Other

4,029

4,117

Total intangible assets

9,490

9,434

Investment securities
Deferred tax assets

4,062
2,338

3,617
2,885

Bad debts
Long-term prepaid expenses

11,665
8,646

12,4098,492

Other
Allowance for doubtful accounts

4,438(11,827)

4,405(12,576)

Total investments and other assets

19,324

19,235Investments and other assets

Total non-current assets
Total assets―7―

57,35357,561

291,704

283,241(Millions of yen)
As of March 31, 2024As of June 30, 2024

Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings

55,84696,99353,35878,269Current portion of long-term borrowings
Lease liabilities

5,130
1,967

7,022
2,210

Income taxes payable
Contract liabilities

3,864
147

1,496
223

Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Other

1,334

812

120

-

14,72816,013

Total current liabilities

180,132

159,406

Long-term borrowings
Lease liabilities

7,352
6,845

17,673
6,565

Deferred tax liabilities
Retirement benefit liability

1,867
1,582

1,869
1,568

Non-current liabilities

Other

2,898

2,975

Total non-current liabilities

20,54730,651200,679

190,058

Share capital
Capital surplus

4,383
33,841

4,383
32,134Retained earnings
Treasury shares

43,461(9)

46,475(9)

Total shareholders' equity

81,677

82,984

Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Foreign currency translation adjustment

30451(1)2,263

52,940Remeasurements of defined benefit plans

(42)

(30)

2,524

2,965

Share acquisition rights
Non-controlling interests

Total accumulated other comprehensive income

123
6,699

114
7,119

Total net assets

91,024

93,183291,704

283,241

Total liabilities and net assets―8―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

119,563
109,674

135,425
123,161

Gross profit

9,889

12,264

Selling, general and administrative expenses

7,133

7,640

Operating profit

2,755

4,624

Non-operating income
Interest income

5361

Dividend income
Insurance claim income
Share of profit of entities accounted for using equity
methodGain on investments in silent partnerships

16126

3545

27

26

8895

Other

4764

Total non-operating income

359

329

Interest expenses
Loss on sale of receivables

867
268

862
371

Foreign exchange losses
Other3222

6182

1,362

1,423

1,752

3,530

Gain on sale of non-current assets
Gain on sale of investment securities

2812-

Total extraordinary income

28

12Profit before income taxes

1,780

3,542

Income taxes

1,056

246

Profit724

3,296

Profit attributable to non-controlling interests

40282

Profit attributable to owners of parent

683

3,013

Non-operating expenses

Total non-operating expenses
Ordinary profit
Extraordinary income―9―

Quarterly Consolidated Statements of Comprehensive Income (For the three months)(Millions of yen)
For the three months
ended June 30, 2023
ProfitOther comprehensive income

For the three months
ended June 30, 2024
7243,296

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

292
14(253)7

Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax

529
14915
10850

680

Comprehensive income

Total other comprehensive income

1,574

3,976

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

1,293

3,454

281

522

―10―