Translation

Summary of Consolidated Financial Results
for the Year Ended March 31, 2024
(Based on IFRS)
Company name:

Stock exchange listing: Tokyo, Nagoya
Securities code:
7593
URL
Representative:
Inquiries:

May 15, 2024

VT HOLDINGS CO., LTD.
https://www.vt-holdings.co.jp

President & CEO
Chief Financial Officer

Kazuho Takahashi
Ichiro Yamauchi

Scheduled date of ordinary general meeting of shareholders:
Scheduled date to file Securities Report:

June 27, 2024
June 28, 2024

Scheduled date to commence dividend payments:
Preparation of supplementary material on financial results:

June 11, 2024
Yes

Holding of financial results meeting:

Yes

TEL

052-203-9500(Amounts are rounded off to the nearest million yen)
1. Consolidated financial results for the year ended March 31, 2024 (from April 1, 2023 to March 31, 2024)(1) Consolidated operating results
RevenueYear ended March 31,2024
Year ended March 31,2023

Operating profit

Profit before tax

ProfitMillions ofyen%Millions ofyen%Millions ofyen%

311,604

17.0

12,008(6.6)

11,458(9.4)

7,619 (18.4)

6,697

266,32911.9

12,85626.1

12,646 (29.6)

9,334 (24.9)

7,180 (38.5)

Basic earnings per Diluted earnings pershareshare
Yen
56.86
61.91

Year ended March 31, 2024
Year ended March 31, 2023
(2) Consolidated financial position
Total assets

As of March 31, 2024
As of March 31, 2023
(3) Consolidated cash flows

Year ended March 31, 2024
Year ended March 31, 2023

Millions of yen
272,883
229,834

Yen
56.78
61.91

Millions ofyen

Percentages indicate year-on-year changes
Profit attributable Comprehensive
to owners of parent
incomeMillions ofMillions%%%
yenof yen
(6.7)

10,190 (43.1)
17,911

27.4

Return on equity
Ratio of profit before Ratio of operating
attributable totax to total assets
profit to revenue
owners of parent%
%
%
9.8
4.6
3.9
12.4
6.1
4.8

Ratio of equity
Equity attributable toEquity attributable to attributable to owners
Total equity
owners of parent per
owners of parentof parent to total
shareassetsMillions of yen
Millions of yen%
Yen
82,00272,85126.7
606.7372,74064,50028.1
556.10Cash flows fromoperating activities
Millions of yen
12,064
11,173

Cash flows frominvesting activities
Millions of yen(10,334)(9,794)

Cash flows fromCash and cash equivalents
financing activities
at end of period
Millions of yen
Millions of yen(1,358)13,483(623)
12,644

2. Cash dividends
Annual dividends per share
1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end

Year ended March 31, 2023
Year ended March 31, 2024
Year ending March 31, 2025
(Forecast)

Total cash
dividends

Total

Dividend payout
ratio

Ratio of dividends
to equity
attributable toowners of parentYen

Yen

Yen

Yen

YenMillions of yen%%

––

11.50
12.00

––

12.00
12.00

23.50
24.00

2,726
2,858

38.0
42.2

4.7
4.1

–

12.00

–

12.00

24.00

141.5

3. Forecast of consolidated financial results for the year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)
Percentages indicate year-on-year changes
BasicProfit attributable toRevenue
Operating profit
Profit before tax
earnings perowners of parent
shareMillions ofMillions ofMillions ofMillions of%%%%
Yenyenyenyenyen
Six months ending
160,000
10.3
5,700(0.5)
5,400(5.6)
3,000(9.8)
24.81
September 30, 2024
Full year
330,000
5.9
13,0008.3
12,200
6.5
7,000
4.5
57.86
4. Notes(1) Changes in significant subsidiaries during the year ended March 31, 2024
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Changes in accounting policies and changes in accounting estimates
Changes in accounting policies required by IFRS:
Changes in accounting policies due to other reasons:

NoNo

Changes in accounting estimates:No(3) Number of issued shares (ordinary shares)
Total number of issued shares at end of period (including treasury shares)
As of March 31, 2024

121,631,034 shares As of March 31, 2023

119,381,034 shares

1,559,364 shares As of March 31, 2023

3,393,364 shares

117,785,592 shares Year ended March 31, 2023

115,987,670 shares

Number of treasury shares at end of period
As of March 31, 2024
Average number of shares during period
Year ended March 31, 2024

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

2Consolidated financial statements

Consolidated statement of financial position

As of March 31, 2023

As of March 31, 2024

Millions of yen

Millions of yen

AssetsCurrent assets
Cash and cash equivalents
Trade and other receivables

12,64422,541

13,48327,946

Other financial assets
Inventories

125
56,206221
72,302Other current assets

6,013

9,415

Total current assets
Non-current assets

97,529123,368

Property, plant and equipment
Goodwill

73,386
13,37689,171
13,280Intangible assets
Investment property

1,185
7,299

1,366
7,402

Investments accounted for using equity method
Other financial assets

4,501
30,953

4,651
32,047

Deferred tax assets
Other non-current assets

1,490
113

1,488
109

Total non-current assets

132,304

149,514229,834

272,883

Total assets3

As of March 31, 2023

As of March 31, 2024

Millions of yen

Millions of yen

Liabilities and equity
Liabilities
Current liabilities
Bonds and borrowings
Trade and other payables

42,13445,66949,16858,296

Other financial liabilities
Income taxes payable

6,487
1,709

8,517
2,146

Contract liabilities
Other current liabilities

10,947
2,675

11,673
3,323

Total current liabilities

109,620

133,122

Non-current liabilities
Bonds and borrowings

19,19922,113

Other financial liabilities
Provisions

18,039569

25,206
708

Deferred tax liabilities
Other non-current liabilities

7,574
2,092

7,637
2,095

Total non-current liabilities

47,47357,759Total liabilities
Equity157,093

190,881

Share capital
Capital surplus

4,297
3,150

4,862
4,406

Treasury shares
Other components of equity

(866)
1,789

(667)
3,481

Retained earnings

56,13060,770Total equity attributable to owners of parent

64,50072,851

Non-controlling interests

8,240

9,151

Total equity
Total liabilities and equity

4

72,74082,002229,834

272,883

Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income
Fiscal year ended
March 31, 2023

Fiscal year ended
March 31, 2024

Millions of yen

Millions of yen

Revenue

266,329

311,604

Cost of sales

222,422

262,001

Gross profit
Selling, general and administrative expenses

43,90732,926

49,60337,531Other income
Other expenses

2,562
687

1,389
1,454

Operating profit
Finance income

12,856413

12,008
727

866

1,428

242

151

Profit before tax
Income tax expense

12,646
3,311

11,458
3,839

Profit

9,334

7,619

Finance costs
Share of profit of investments accounted for using equity
methodProfit attributable toOwners of parent

7,180

6,697

Non-controlling interests

2,154

922

Profit

9,334

7,619

61.91
61.91

56.86
56.78

Earnings per share
Basic earnings per share
Diluted earnings per share5Consolidated statements of comprehensive income

Fiscal year ended

Fiscal year ended

March 31, 2023

March 31, 2024

Millions of yen
ProfitMillions of yen
9,334

7,619

8,178

747

(5)

178,173764

Exchange differences on translation of foreign
operations

374

1,775

Share of other comprehensive income of investments
accounted for using equity method2933

Total of items that may be reclassified to profit or loss

403

1,808

Other comprehensive income
Items that will not be reclassified to profit or loss
Net change in fair value of equity instruments
designated as measured at fair value through othercomprehensive income
Share of other comprehensive income of investments
accounted for using equity method
Total of items that will not be reclassified to profit orloss
Items that may be reclassified to profit or loss

Other comprehensive income, net of tax

8,576

2,571

17,911

10,190Owners of parent
Non-controlling interests

15,718
2,193

9,147
1,044

Comprehensive income

17,911

10,190Comprehensive income
Comprehensive income attributable to6Consolidated statement of changes in equity
Fiscal year ended March 31, 2023

Equity attributable to owners of parent
Other components of equity

Balance at April 1, 2022

Share capital

Capital surplus

Treasury shares

Millions ofyen

Millions ofyen

Millions ofyen

Exchangedifferences ontranslation offoreign
operations

ShareacquisitionrightsFinancial assets
measured at fairvalue throughothercomprehensive
incomeMillions ofyen

Millions ofyen

Millions ofyen

4,297

2,975(866)

1,407–––

375

132

––

8,162

ProfitOther comprehensive income

375

Total
Changes in ownership interest in
subsidiaries

48

Disposal of treasury shares(6)

Forfeiture of share acquisition rights

132

8,162(132)Issuance of share acquisition rights

8(8,162)

Transfer to retained earnings
Dividends
Total transactions with owners
Balance at March 31, 2023–

174––(124)(8,162)

4,297

3,150(866)

1,782

8–

Equity attributable to owners of parent
Other
components ofequity

Retainedearnings
Millions ofyen

Total

Non-controllinginterests

TotalMillions ofyen

Millions ofyen

Millions ofyen

Total
Millions ofyen
Balance at April 1, 2022
ProfitOther comprehensive income
Total

1,539

43,397

–

7,180

8,537
8,537

7,180

51,342

5,592

56,934

7,180

2,154

9,334

8,537

39

8,576

15,7182,193

17,911

574

622

Changes in ownership interest insubsidiaries–

48

Disposal of treasury shares

–(6)

(6)

Forfeiture of share acquisition rights

(132)

––

Issuance of share acquisition rights

888

Transfer to retained earnings
Dividends
Total transactions with owners
Balance at March 31, 2023

(8,162)

8,162

–

–

(2,610)(2,610)–(118)(2,728)(8,287)

5,553(2,560)455(2,104)

1,789

56,13064,5008,240

72,7407Fiscal year ended March 31, 2024
Equity attributable to owners of parent
Other components of equity

Balance at April 1, 2023

Share capital

Capital surplus

Treasury shares

Millions ofyen

Millions ofyen

Millions ofyen

4,297

3,150(866)

Exchangedifferences ontranslation offoreign
operations

Share
acquisitionrightsFinancial assets
measured at fairvalue throughothercomprehensive
incomeMillions ofyen

Millions ofyen

Millions ofyen

1,782

8–

ProfitOther comprehensive income

1,698

Total
Issuance of new shares––

564

564–

751

1,698–

751

Change in scope of consolidation
Changes in ownership interest in
subsidiaries

0Purchase of treasury shares

(0)

(516)

Disposal of treasury shares

692

715

Exercise of share acquisition rights

(6)
(751)

Transfer to retained earnings
Dividends
Total transactions with owners
Balance at March 31, 2024

564

1,256

199

–

(6)

(751)

4,862

4,406

(667)

3,480

1–

Equity attributable to owners of parent
Other
components ofequity

Retainedearnings

Total

Non-controllinginterests

Total

Millions ofyen

Millions ofyen

Millions ofyen

Millions ofyen

Total
Millions ofyen
Balance at April 1, 2023
ProfitOther comprehensive income
Total

1,789

56,13064,5008,240

–

6,697

6,697

922

7,619

2,449

122

2,571

9,147

1,044

10,190

2,449
2,449

6,697

Issuance of new shares

–

1,129

72,7401,129

Change in scope of consolidation

–

–

13

13

Changes in ownership interest in
subsidiaries

–

030

30

Purchase of treasury shares–(516)(516)

Disposal of treasury shares

–

1,407

1,407

Exercise of share acquisition rights

(6)

(6)

(6)

Transfer to retained earnings
Dividends
Total transactions with owners
Balance at March 31, 2024

(751)

751

–

–

(2,809)(2,809)–(177)(2,985)(758)(2,057)

(796)

(133)

(929)

3,481

60,77072,851

9,151

82,0028

Consolidated statements of cash flows

Fiscal year ended

Fiscal year ended

March 31, 2023

March 31, 2024

Millions of yen

Millions of yen

Cash flows from operating activities
Profit before tax

12,646

11,458Depreciation and amortization
Impairment losses

10,665361

12,3891,058

Gain on bargain purchase
Interest and dividend income(1,834)(257)–(351)

Interest expenses
Foreign exchange loss (gain)

823
62

1,407
(227)

Share of loss (profit) of investments accounted for using
equity method

(242)

(151)

496(669)95

Decrease (increase) in trade receivables
Decrease (increase) in inventories(118)(10,625)(630)(13,657)

Increase (decrease) in trade payables
Increase (decrease) in contract liabilities

6,047(1,489)

5,697
412

(574)
472

604
(969)

16,037

16,465

306
(791)

402
(1,384)

Income taxes refund (paid)(4,379)(3,419)Net cash provided by (used in) operating activities

11,173

12,064

(173)

(381)

71
(13,499)

194(13,690)

2,779
(209)

3,663(217)

Purchase of investment securities
Proceeds from sale of investment securities

(1)
340

(14)
35

Proceeds (Payments) from (for) acquisition ofsubsidiaries

1,088

(23)

Payments for loans receivableCollection of loans receivable

(14)
131

(16)
96

Payments of leasehold and guarantee deposits
Proceeds from refund of leasehold and guarantee

(297)

(187)

74

271

(112)

(44)

31
(4)

–(23)

(9,794)(10,334)

Loss (gain) on sale of fixed assets
Loss on retirement of fixed assets

Increase (decrease) in accrued consumption taxes
Other
SubtotalInterest and dividends received
Interest paid

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

deposits
Payments for acquisition of businesses
Proceeds from sale of businesses
Other
Net cash provided by (used in) investing activities

9Cash flows from financing activities
Net increase (decrease) in short-term borrowings

Fiscal year ended

Fiscal year ended

March 31, 2023

March 31, 2024

Millions of yen

Millions of yen
9,698

4,159

8,734
(8,375)

13,574(9,848)(291)–(301)
1,129

Purchase of treasury shares
Proceeds from sale of treasury shares–10(516)
1,400

Proceeds from issuance of share acquisition rights
Proceeds from sale of interests in subsidiaries to non-8––

583

Proceeds from long-term borrowings
Repayments of long-term borrowings
Redemption of bonds
Proceeds from issuance of sharescontrolling interests
Capital contribution from non-controlling interests

2530

Dividends paid
Dividends paid to non-controlling interests(2,610)(118)(2,809)(177)

Repayments of lease liabilities
Other(7,702)(1)(8,582)(1)(623)(1,358)43468

Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period

799
11,844839
12,644

Cash and cash equivalents at end of period

12,644

13,483

Net cash provided by (used in) financing activities
Effect of exchange rate changes on cash and cashequivalents

10