Consolidated Financial Results for the First Three Months of
the Fiscal Year Ending March 31, 2025 (JGAAP)
August 9, 2024
Company name:Suzumo Machinery Co., Ltd.
Listing:
Tokyo Stock Exchange
Stock code:
6405
URL:
http://www.suzumokikou.com/
Representative:
Minako Suzuki, President
Contact:
Junko Koshino, Director and Managing Executive Officer
Phone:+81-3-3993-1371
Scheduled date for dividend payment:—
Supplementary materials for quarterly financial statements:
Yes
Results briefing to be held:
None(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(Percentages indicate year-on-year change)
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Millions of yen%
Millions of yen%
Millions of yen%
Millions of yen%
Three months ended
3,715
13.9
428
144.2
450
149.2
348
170.4
June 30, 2024
3,262
3.9
175
-31.9
180
-32.3
128
-16.3
June 30, 2023
(Note) Comprehensive income: Three months ended June 30, 2024: 468 million yen (226.0%)
Three months ended June 30, 2023: 143 million yen (-37.7%)
Earnings
per share
Three months ended
June 30, 2024
June 30, 2023

Diluted earnings
per share
Yen

Yen

26.95
9.97

―
―

(2) Consolidated financial position
Total assets

Net assets

Equity ratio

Millions of yen
Millions of yen
As ofJune 30, 2024
18,68014,827
March 31, 2024
18,201
14,580(Reference) Shareholders’ equity: As of June 30, 2024: 14,792 million yen
As of March 31, 2024: 14,545 million yen

%

79.2
79.9

2. Dividends
Annual dividend per share
1stquarter

2ndquarter

3rdquarterYear-end

Total

Yen

Yen

Yen

Yen

Yen

―
―

15.00

―

17.00

32.00

15.00
(Note) Changes in dividend forecast from the most recent announcement: None

―

18.00

33.00

Fiscal year ended March 31, 2024
Fiscal year ending March 31, 2025
Fiscal year ending March 31, 2025 (forecast)3. Consolidated earnings forecast for the fiscal year ending March 31, 2025 (April 1, 2024 to March 31, 2025)(Percentages indicate year-on-year change)
Profit attributable to
Net sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen

Six months
ending7,595 12.8
690 51.7
695 44.0
September 30,
2024
15,960 10.0
1,900 28.8
1,915 27.8
Full-year(Note) Changes in earnings forecast from the most recent announcement: None

%

Yen

495

67.5

38.28

1,350

18.3

104.41

Notes:(1) Significant changes in the scope of consolidation during the period under review: None
Newly included:—
Excluded:—(2) Application of special accounting treatment in preparing the quarterly financial statements: Yes(Note) For details, please see the attached materials on page 8, “2. Quarterly Consolidated Financial Statements andPrimary Notes; (3) Notes to Quarterly Consolidated Financial Statements (Application of special accounting
treatment in preparing the quarterly financial statements).”(3) Changes in accounting policies, changes in accounting estimates, and retrospective restatement
1) Changes in accounting policies due to revision of accounting standards:
Yes2) Changes in accounting policies due to other reasons:None3) Changes in accounting estimates:
Yes
4) Retrospective restatement:
None(Note) For details, please see the attached materials on page 8, “2. Quarterly Consolidated Financial Statements andPrimary Notes; (3) Notes to Quarterly Consolidated Financial Statements (Changes in accounting policies) and(Changes in accounting estimates).”(4) Total number of issued shares (common stock)1) Total number of issued shares at the end of the period (including treasury shares):
June 30, 2024:
March 31, 2024:
2) Total number of treasury shares at the end of the period:
June 30, 2024:
March 31, 2024:
3) Average number of shares outstanding during the period:
Three months ended June 30, 2024:
Three months ended June 30, 2023:

12,960,000 shares
12,960,000 shares
31,318 shares
30,180 shares
12,929,081 shares
12,925,846 shares* Review of the accompanying quarterly consolidated financial statements by a certified public accountant or auditing
firm: None
* Explanation of the proper use of financial results forecast and other notes
Forward-looking statements in this document, including outlook on future performance, are based on currently
available information and certain assumptions that the Company regards as reasonable, and the Company does not in
any way guarantee their achievement. Actual results may differ substantially from the projections herein depending on
various factors. For the preconditions of and precautions in using the financial results forecast, please refer to “1.
Summary of Business Results, (3) Explanation of Consolidated Financial Earnings Forecast and Other ForwardLooking Information” on page 3 of the Attachment.

Contents of Attached Materials
1. Summary of Business Results........................................................................................................................................... 2(1) Summary of Business Results for the First Three Months of the Fiscal Year Ending March 31, 2025 ......................... 2(2) Financial Condition During the First Three Months of the Fiscal Year Ending March 31, 2025 .................................... 3(3) Explanation of Consolidated Financial Earnings Forecast and Other Forward-Looking Information ............................ 3
2. Quarterly Consolidated Financial Statements and Primary Notes ..................................................................................... 4(1) Consolidated Balance Sheet ........................................................................................................................................ 4(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income ...................................... 6
Consolidated Statement of Income ................................................................................................................................ 6
Consolidated Statement of Comprehensive Income ...................................................................................................... 7(3) Notes to Quarterly Consolidated Financial Statements ................................................................................................ 8(Changes in accounting policies) ................................................................................................................................... 8(Changes in accounting estimates) ................................................................................................................................ 8(Application of special accounting treatment in preparing the quarterly financial statements) ....................................... 8(Notes on segment information, etc.) ............................................................................................................................. 8(Notes in the event of significant changes in shareholders’ equity) ................................................................................ 8(Notes on going concern assumption) ............................................................................................................................ 8(Notes on statement of cash flows) ................................................................................................................................ 8

1

1. Summary of Business Results(1) Summary of Business Results for the First Three Months of the Fiscal Year Ending March 31, 2025
In the first three months of the fiscal year ending March 31, 2025 (April 1, 2024–June 30, 2024), the Japanese
economy was on a gradual recovery path due to an improved employment and income environment and rising inbounddemand. On the other hand, the outlook remains uncertain due to soaring raw material and energy prices caused byrising geopolitical risks and other factors, the resulting turmoil in the European market, instability in the Middle East,and the economic slowdown in China.
Under these circumstances, during the first three months of the fiscal year ending March 31, 2025, the movements
toward mechanization and labor saving continued in the restaurant and retail industries, and product demand remained
firm. We have been implementing price revisions for products and parts since April 2024, applying these revisions todelivered items in Japan and to orders received overseas.
In Japan, the business environment remained difficult for the restaurant and retail industries due to soaring raw
material and energy prices. However, product demand continued to be steady, supported by the ongoing recovery infood service demand, the expansion of inbound demand, and labor-saving efforts amid a labor shortage. By productand business category, although product demand for sushi robots remained steady due to expansion needs fromsupermarkets and new store openings, sales declined as replacement demand from major conveyor belt sushi chains
ran its course. Meanwhile, replacement demand and new customer count for our Fuwarica rice serving machines grew,
mainly from major chain operators in the restaurant and cafeteria sector. In addition, the effect of price revisions
contributed to higher domestic sales than in the same period of the previous year.
Overseas, while uncertainties continue against the backdrop of inflation, monetary tightening, the situation in Ukraine,and prolonged geopolitical risks in the Middle East, product demand has grown on increased overseas expansion by
Japanese companies in the restaurant and retail industries, continued movements toward labor saving due to theworsening labor shortage and rising labor costs, and the growing popularity of Japanese food. By region, in East Asia
and Southeast Asia, businesses have been impacted by the economic slowdown in China, leading to a decline in sales
due to the cancellation or postponement of capital investment plans. On the other hand, in North America, the popularityof Japanese food and the expansion of Japanese companies into the region accelerated, and the movements towardmechanization and labor saving remained strong, leading to increased demand for products. In Europe, althoughsoaring energy prices and supply concerns caused by the situation in Ukraine continued to impact businesses, productdemand has recovered, aided by efforts since the previous consolidated fiscal year to tap into demand from local
businesses. Just as in Japan, the effects of price revisions also contributed, and overseas sales increased year on year.
As a result, net sales in the first three months of the fiscal year ending March 31, 2025 totaled 3,715 million yen(+13.9% YoY). Of the total, domestic sales were 2,424 million yen (+3.1% YoY) and overseas sales came to 1,290
million yen (+41.9% YoY).
Summary of results in the first three months of the fiscal year ending March 31, 2025
Three months ended
June 30, 2023

Three months ended
June 30, 2024

Millions of yen% of net sales

Millions of yen% of net sales

Millions of yen

%

3,262

100.0

3,715

100.0

453

13.9

Domestic

2,352

72.1

2,424

65.3

72

3.1

Overseas

909

27.9

1,290

34.7

380

41.9

1,527

46.8

1,893

51.0

366

24.0

Operating profit

175

5.4

428

11.5

252

144.2

Ordinary profit

180

5.5

450

12.1

269

149.2

Net sales

Gross profit

2

Amount ofchangePercentagechangeProfit attributable toowners of parent

128

3.9

348

9.4

219

170.4

Gross profit rose to 1,893 million yen (+24.0% YoY), thanks to higher sales and the effect of price revisions. Operating
profit increased to 428 million yen (+144.2% YoY) due to a rise in gross profit. This increase occurred despite an overallrise in SG&A expenses. On one hand, exhibition expenses and other costs decreased through effective cost controls.
On the other hand, SG&A expenses increased due to several factors: higher personnel expenses resulting from bothnew hires associated with business expansion and base salary increases, increased R&D expenses for future new
products and businesses, higher amortization expenses following the replacement of the core system implemented in
the previous fiscal year, increased packing and transportation costs driven by higher overseas sales, and rising costs
at overseas subsidiaries due to the depreciation of the yen. Ordinary profit rose to 450 million yen (+149.2% YoY).
Profit attributable to owners of parent grew to 348 million yen (+170.4% YoY) due to an extraordinary gain of 25 million
yen on the sale of a portion of the business of consolidated subsidiary Japan System Project Co., Ltd.

(2) Financial Condition During the First Three Months of the Fiscal Year Ending March 31, 2025
(Assets)
Total assets as of June 30, 2024 were up 479 million yen from March 31, 2024 to 18,680 million yen. This change
was primarily due to increases of 258 million yen in inventories, 130 million yen in notes receivable included in notes
and accounts receivable - trade, and 104 million yen in prepaid expenses included in other current assets.
(Liabilities)
Liabilities as of June 30, 2024 were up 232 million yen from March 31, 2024 to 3,853 million yen. This change wasprimarily due to an increase of 298 million yen in accrued expenses included in other current liabilities, while income
taxes payable decreased by 115 million yen.
(Net assets)
Net assets as of June 30, 2024 were up by 246 million yen from March 31, 2024 to 14,827 million yen. This change
was primarily due to increases of 348 million yen from profit attributable to owners of parent and 112 million yen fromforeign currency translation adjustment, despite a decrease of 219 million yen in retained earnings due to the payment
of dividends.

(3) Explanation of Consolidated Financial Earnings Forecast and Other Forward-Looking Information
Earnings forecast is based on currently available information. Actual results may differ substantially from the
projections herein depending on various factors. The forecast figures remain unchanged from those announced on
May 13, 2024.

3

2. Quarterly Consolidated Financial Statements and Primary Notes(1) Consolidated Balance Sheet
Fiscal year ended
March 31, 2024
(as of March 31, 2024)
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Electronically recorded monetary claims operating
Inventories
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Land
Other, net
Total property, plant and equipment
Intangible assets
Software
Other
Total intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

4(Thousands of yen)Three months ended
June 30, 2024
(as of June 30, 2024)

6,017,416
1,542,113

6,009,949
1,594,268

311,653

402,1142,562,521
267,105(8,136)
10,692,674

2,821,025
375,737－
11,203,095

2,001,638
3,522,922
460,404
5,984,965

1,981,927
3,522,922
438,145
5,942,995

532,7136,385

519,287
8,824

539,098

528,11147,349673,244
272,153(7,680)985,067

50,308
693,725
270,344(7,680)1,006,698

7,509,132
18,201,806

7,477,805
18,680,901

Fiscal year ended
March 31, 2024
(as of March 31, 2024)
Liabilities
Current liabilities
Accounts payable – trade
Current portion of long-term borrowings
Income taxes payable
Provision for bonuses
Other
Total current liabilities(Thousands of yen)Three months ended
June 30, 2024
(as of June 30, 2024)

571,231
56,109289,024
221,888868,6812,006,935

656,962
55,275
173,640
197,424
1,158,184
2,241,487

153,860

140,354

3,720

3,930

1,208,389
150,315
97,7781,614,063

1,226,371
150,647
90,645
1,611,948

Total liabilities
Net assets
Shareholders' equity

3,620,998

3,853,436

Share capital
Capital surplus
Retained earnings

1,154,418
1,001,696
12,216,103(15,975)

1,154,418
1,001,696
12,344,680(15,975)

14,356,242

14,484,819

269,954(80,204)

382,837(75,137)

189,750

307,699

Non-current liabilities
Long-term borrowings
Provision for retirement benefits for directors(and other officers)
Retirement benefit liability
Asset retirement obligations
Other
Total non-current liabilities

Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive
incomeNon-controlling interests
Total net assets
Total liabilities and net assets

534,81434,945

14,580,807
18,201,806

14,827,465
18,680,901

(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income
Consolidated Statement of Income
First Three Months of the Fiscal Year Ending March 31, 2025

Net sales
Cost of sales

Three months ended
June 30, 2023
(from April 1, 2023
to June 30, 2023)
3,262,082
1,734,884(Thousands of yen)Three months ended
June 30, 2024
(from April 1, 2024
to June 30, 2024)
3,715,627
1,822,171

1,527,197

1,893,456

1,351,844

1,465,323

175,352

428,132

Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Share of profit of entities accounted for using
equity method
Foreign exchange gains

326

372

2,939

7,740

1,611

13,612

Other

1,354

1,572

6,231

23,298

670

1,024

140
138

162
20

Total non-operating income
Non-operating expenses
Interest expenses
Restricted stock-related expenses
Other
Total non-operating expenses
Ordinary profit

948

1,207

180,635

450,224―

25,869―25,8696596

Extraordinary income
Gain on sale of businesses
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Total extraordinary losses

6596

180,629475,496

Income taxes

51,384

126,055

Profit129,244

349,441

Profit before income taxes

Profit attributable to non-controlling interests
Profit attributable to owners of parent

6

418

1,057

128,825

348,383

Consolidated Statement of Comprehensive Income
First Three Months of the Fiscal Year Ending March 31, 2025

ProfitOther comprehensive income

Three months ended
June 30, 2023
(from April 1, 2023
to June 30, 2023)
129,244(Thousands of yen)Three months ended
June 30, 2024
(from April 1, 2024
to June 30, 2024)
349,441

9,199

106,601

5,181

5,066

226

7,781

14,607

119,449

143,851468,890

142,963

466,333

888

2,557

Foreign currency translation adjustment
Remeasurements of defined benefit plans, net oftax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income(Breakdown)Comprehensive income attributable to owners ofparentComprehensive income attributable to noncontrolling interests7(3) Notes to Quarterly Consolidated Financial Statements(Changes in accounting policies)(Application of "Accounting Standard for Current Income Taxes,” etc.)
The Accounting Standard for Current Income Taxes (ASBJ Statement No. 27, October 28, 2022; hereinafter,“2022 Revised Accounting Standard”) has been applied from the beginning of the first quarter of the current fiscal
year.
With regard to the revision of the classification of corporate income taxes (taxation on other comprehensive
income), the Company adheres to the transitional treatment stipulated in the provisory clause of Paragraph 20-3 ofthe 2022 Revised Accounting Standard, as well as that in the provisory clause of Paragraph 65-2(2) of the“Guidance on Accounting Standard for Tax Effect Accounting” (ASBJ Guidance No. 28, October 28, 2022). Thischange in accounting policy has no impact on the quarterly consolidated financial statements.
(Changes in accounting estimates)(Change in the useful life of property, plant and equipment)
In the “Other” category under property, plant and equipment owned by the Company, molds were previously
depreciated over a useful life of two years. However, in response to expanding overseas sales and the diversificationof customer preferences, the Company has changed its management policy to more actively invest in new products. As
continuous investment is expected in the future, it is anticipated that mold investments will significantly increase, leading
to a rise in the significance of molds and their depreciation expenses. Given this situation, the Company has determinedthat it is appropriate to review the useful life of molds to better reflect the actual conditions. Based on a reasonableestimate of the useful life based on actual use to date, the Company has changed the useful life to eight years effectivefrom the first quarter of the current consolidated fiscal year. The impact of this change on the quarterly consolidated
financial statements is immaterial.
(Application of special accounting treatment in preparing the quarterly financial statements)(Calculation of tax expenses)
In regard to tax expenses, we have adopted the calculation method of rationally estimating the effective tax rate
on profit before income taxes for the consolidated fiscal year, after application of tax effect accounting; thenmultiplying the profit before income taxes for the period under review by the said tax rate. However, in the eventthe estimated effective tax rate cannot be applied, statutory effective tax rate is used.

(Notes on segment information, etc.)[Segment information]
Our group operates in a single segment, the cooked-rice processing equipment business, so segment data areomitted.
(Notes in the event of significant changes in shareholders’ equity)
There is no relevant information.

(Notes on going concern assumption)
There is no relevant information.

(Notes on statement of cash flows)
The Company has not prepared a quarterly consolidated statement of cash flows for the first three months of the
fiscal year ending March 31, 2025. Depreciation expenses (including amortization of intangible assets excluding8

goodwill) and amortization of goodwill for the three months ended June 30, 2024 are as follows.
(Thousands of yen)Three months ended
June 30, 2023
(from April 1, 2023
to June 30, 2023)

Three months ended
June 30, 2024
(from April 1, 2024
to June 30, 2024)

Depreciation

86,662

105,055

Amortization of goodwill

2,203

―

9