Translation

Summary of Consolidated Financial Results
for the Three Months Ended June 30, 2024
(Based on IFRS)
Company name:

August 9, 2024

VT HOLDINGS CO., LTD.

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

https://www.vt-holdings.co.jp

President & CEO
Chief Financial Officer

Kazuho Takahashi
Ichiro Yamauchi

Scheduled date to commence dividend payments:
Preparation of supplementary material on financial results:–No

Holding of financial results meeting:

NoTEL

052-203-9500(Amounts are rounded off to the nearest million yen)
1. Consolidated financial results for the three months ended June 30, 2024 (from April 1, 2024 to June 30, 2024)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Profit attributable Comprehensive
Revenue
Operating profit Profit before tax
Profitto owners of parent
incomeMillions ofMillions ofMillions ofMillions ofMillions ofMillions%%%%%%
yen
yenyenyenyenof yenThree months ended
84,814 24.5
2,987 21.2
2,876 15.4
1,814
9.6
1,516
5.3
79 (97.3)
June 30, 2024
Three months ended68,114
9.3
2,465 (8.4)
2,493 (11.5)
1,655 (13.9)
1,440 (10.2)
2,879 (50.4)
June 30, 2023
Basic earnings per share

Diluted earnings per share

Yen
12.55
12.38

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

Yen
12.55
12.36

(2) Consolidated financial position
Total assets

Total equity

Millions of yen
274,529
272,883

As of June 30, 2024
As of March 31, 2024

Ratio of equity
attributable to owners ofparent to total assets
Millions of yen%
71,58426.1
72,851
26.7

Equity attributable toowners of parent

Millions of yen
81,00982,002

2. Cash dividends
Annual dividends per share
1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
12.00

Yen–

Yen
12.00

Yen
24.00

12.00

–

12.00

24.00

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

3. Forecast of consolidated financial results for the year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)

RevenueSix months ending
September 30, 2024
Full year

Operating profit

Percentages indicate year-on-year changes
Basic
Profit attributable toProfit before tax
earnings perowners of parent
shareMillions ofMillions of%%
Yenyenyen

Millions ofyen%Millions ofyen%

160,000

10.3

5,700(0.5)

5,400(5.6)

3,000(9.8)

24.79

330,000

5.9

13,0008.3

12,200

6.5

7,000

4.5

57.84

1

4. Notes(1) Significant changes in the scope of consolidation during the three months ended June 30, 2024:(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:
Changes in accounting estimates:

NoNoNoNo(3) Number of issued shares (ordinary shares)
Total number of issued shares at end of period (including treasury shares)
As of June 30, 2024

122,581,034 shares As of March 31, 2024

121,631,034 shares

1,559,365 shares As of March 31, 2024

1,559,364 shares

Number of treasury shares at end of period
As of June 30, 2024

Average number of shares during period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2024

120,834,417 shares Three months ended June 30, 2023

116,305,499 shares

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

Condensed quarterly consolidated financial statements

Condensed quarterly consolidated statement of financial position

As of March 31, 2024

As of June 30, 2024

Millions of yen

Millions of yen

AssetsCurrent assets
Cash and cash equivalents
Trade and other receivables

13,48327,946

12,45831,256

Other financial assets
Inventories

221
72,302257
71,368Other current assets

9,415

10,013

Total current assets
Non-current assets

123,368

125,352

Property, plant and equipment
Goodwill

89,171
13,28092,502
13,662Intangible assets
Investment property

1,366
7,402

1,375
7,453

Investments accounted for using equity method
Other financial assets

4,651
32,047

4,639
27,994

Deferred tax assets
Other non-current assets

1,488
109

1,446
106

Total non-current assets

149,514

149,177

272,883

274,529

Total assets3

As of March 31, 2024

As of June 30, 2024

Millions of yen

Millions of yen

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

49,16858,296

51,54359,545

Other financial liabilities
Income taxes payable

8,517
2,146

8,758
1,011

Contract liabilities
Other current liabilities

11,673
3,323

10,416
3,231

Total current liabilities

133,122

134,505

Non-current liabilities
Bonds and borrowings

22,11323,040

Other financial liabilities
Provisions

25,206708

27,727
722

Deferred tax liabilities
Other non-current liabilities

7,637
2,095

6,479
1,048

Total non-current liabilities

57,75959,016

Total liabilities
Equity190,881

193,521

Share capital
Capital surplus

4,862
4,406

5,100
4,640

Treasury shares
Other components of equity

(667)
3,481

(667)
4,442

Retained earnings

60,77058,069Total equity attributable to owners of parent

72,851

71,584Non-controlling interests

9,151

9,424

Total equity
Total liabilities and equity

482,002

81,009272,883

274,529

Condensed quarterly consolidated statements of income and condensed quarterly consolidated
statements of comprehensive income
Condensed quarterly consolidated statements of income
Three months ended

Three months ended

June 30, 2023

June 30, 2024

Millions of yen

Millions of yen

Revenue
Cost of sales

68,114
57,10884,814
71,865Gross profit

11,006

12,949Selling, general and administrative expenses
Other income

8,738
240

10,034390

Other expenses

43318

Operating profit

2,465

2,987

Finance income
Finance costs

285
289

284
421

Share of profit of investments accounted for using equity
method3125

Profit before tax

2,493

2,876

Income tax expense

837

1,062

1,655

1,814

Owners of parent
Non-controlling interests

1,440
215

1,516
298

Profit

1,655

1,814

12.38

12.55

12.36

12.55

ProfitProfit attributable toEarnings per share
Basic earnings per share
Diluted earnings per share5Condensed quarterly consolidated statements of comprehensive income
Three months ended

Three months ended

June 30, 2023

June 30, 2024

Millions of yen
ProfitMillions of yen
1,655

1,814

(12)

(2,775)73(5)(2,773)

Exchange differences on translation of foreign
operations

1,214

1,025

Share of other comprehensive income ofinvestments accounted for using equity method1412

Total of items that may be reclassified to profit
or loss

1,228

1,038

1,223(1,735)

Comprehensive income

2,879

79

Comprehensive income attributable toOwners of parent

2,590(297)

Non-controlling interests

289

376

Comprehensive income

2,879

79

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 throughother comprehensive income
Share of other comprehensive income ofinvestments accounted for using equity method
Total of items that will not be reclassified toprofit or loss
Items that may be reclassified to profit or loss

Other comprehensive income, net of tax

6Condensed quarterly consolidated statement of changes in equity

Three months ended June 30, 2023 (from April 1, 2023 to June 30, 2023)

Equity attributable to owners of parent
Other components of equity

Balance at April 1, 2023

Exchangedifferences ontranslation offoreign
operations

Share
acquisitionrightsShare capital

Capital surplus

Treasury shares

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

4,297

3,150(866)

1,782

8–––

1,157

Profit (loss)
Other comprehensive income
Comprehensive income

1,157
–

Change in scope of consolidation
Changes in ownership interest in
subsidiaries

0

Disposal of treasury shares

221229(1)

Exercise of share acquisition rights
Transfer to retained earnings
Dividends
Total transactions with owners
Balance at June 30, 2023

–

221

229–

(1)

4,297

3,371(637)

2,939

6

Equity attributable to owners of parent
Other components of equity

Balance at April 1, 2023

Financial assets
measured at fairvalue throughothercomprehensive
incomeTotal

Non-controllinginterests

Total

Total

Retainedearnings

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

–

1,789

56,13064,5008,240

72,740

–

1,440

1,440

215

1,655(7)

1,150

1,150

74

1,223(7)1,150Profit (loss)
Other comprehensive income

2,590

289

2,879

Change in scope of consolidation

–

–

13

13

Changes in ownership interest in
subsidiaries

–

030

30

Disposal of treasury shares

–450

450

Exercise of share acquisition rights

(1)

(1)

(1)

Comprehensive income

Transfer to retained earnings

7

Dividends
Total transactions with owners
Balance at June 30, 2023

1,440

7(7)

––

(1,392)(1,392)–(94)(1,486)

7

6(1,399)

(943)

(51)

(993)

–

2,945

56,171

66,147

8,479

74,626

7

Three months ended June 30, 2024 (from April 1, 2024 to June 30, 2024)
Equity attributable to owners of parent
Other components of equity

Balance at April 1, 2024

Exchangedifferences ontranslation offoreign
operations

ShareacquisitionrightsShare capital

Capital surplus

Treasury shares

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

4,862

4,406

(667)

3,480

1

Profit (loss)
Other comprehensive income
Comprehensive income
Issuance of new shares

962
––

238

234

–

962

–

(0)

Purchase of treasury shares(0)

Exercise of share acquisition rights(1)

Transfer to retained earnings
Dividends
Total transactions with owners
Balance at June 30, 2024

238

234

(0)

–

(1)

5,100

4,640

(667)

4,442

–

Equity attributable to owners of parent
Other components of equity

Balance at April 1, 2024Financial assets
measured at fairvalue throughothercomprehensive
incomeTotal

Non-controllinginterests

Total

Total

Retainedearnings

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

–

3,481

60,77072,851

9,151

82,002–

1,516(2,776)(1,814)(2,776)(1,814)

Profit (loss)
Other comprehensive income
Comprehensive income

1,516

1,516

298

1,814

(1,814)78(1,735)

(297)

376

79

Issuance of new shares

–

473

473

Purchase of treasury shares

–

(0)

(0)

(2)

(2)

Exercise of share acquisition rights
Transfer to retained earnings

(1)
2,776

2,776

(2,776)––(1,441)(1,441)(102)(1,543)

2,776

2,775

(4,217)

(970)

(102)

(1,072)–

4,442

58,06971,584

9,424

81,009Dividends
Total transactions with owners
Balance at June 30, 20248–

Condensed quarterly consolidated statements of cash flows

Three months ended

Three months ended

June 30, 2023

June 30, 2024

Millions of yen

Millions of yen

Cash flows from operating activities
Profit before tax

2,493

2,876

Depreciation and amortization
Interest and dividend income

2,865
(42)

3,554
(55)

Interest expenses
Foreign exchange loss (gain)

283
(141)

402
(153)

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

(31)

(25)

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

(1)
8(86)
7

Decrease (increase) in trade receivables
Decrease (increase) in contract assets

1,569
(246)

(1,556)
1,352

Decrease (increase) in advance payments to suppliers
Decrease (increase) in inventories(2,314)(3,589)(1,630)2,811

Increase (decrease) in trade payables
Increase (decrease) in contract liabilities(2,789)(414)(2,070)(1,377)562(647)

1,587(497)(2,434)

5,141

98
(280)

116
(394)

Income taxes refund (paid)(1,786)(2,127)

Net cash provided by (used in) operating activities(4,402)

2,736

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

Cash flows from investing activities
Payments into time deposits

(190)

(25)

100
(4,007)103(4,241)

Proceeds from sale of property, plant and equipmentPurchase of intangible assets

423(33)

1,137(40)

Purchase of investment securities
Proceeds from sale of investment securities

(0)
3(0)
–

Proceeds (Payments) from (for) acquisition ofsubsidiaries

(22)

–

Collection of loans receivable
Payments of leasehold and guarantee deposits

22
(40)

25(55)

Proceeds from refund of leasehold and guarantee
deposits

29

21(104)(6)(423)
6(3,824)(3,493)

Proceeds from withdrawal of time deposits
Purchase of property, plant and equipment

Payments for acquisition of businesses
OtherNet cash provided by (used in) investing activities

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

Three months ended

Three months ended

June 30, 2023

June 30, 2024

Millions of yen

Millions of yen
7,205

1,204

3,828
(2,478)3,840(1,975)

Redemption of bonds
Proceeds from issuance of shares

(81)
–

(58)
469

Proceeds from sale of treasury shares
Capital contribution from non-controlling interests

449
30

–
–

Dividends paid
Dividends paid to non-controlling interests(1,392)(94)(1,441)(102)

Repayments of lease liabilities
Other(1,936)(0)(2,498)(0)

Net cash provided by (used in) financing activities

5,531

(560)

Effect of exchange rate changes on cash and cash
equivalents

284

293

Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period(2,411)
12,644(1,025)
13,483

Cash and cash equivalents

10,232

12,458Proceeds from long-term borrowings
Repayments of long-term borrowings

10