Translation
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.

Summary of Consolidated Financial Results
for the Nine Months Ended December 31, 2023
(Based on Japanese GAAP)
February 5, 2024
Company name:

MATSUYA FOODS HOLDINGS CO., LTD.

Stock exchange listing: Tokyo
Stock code:
9887
Representative:
Inquiries:

URL

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

President and Representative Director
DirectorKazutoshi Kawarabuki
Youichi Nakamura

Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:

February 13, 2024–

Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results meeting:

NoNo

TEL

0422-38-1121(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the nine months ended December 31, 2023 (from April 1, 2023 to December 31, 2023)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changesProfit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Nine months ended December 31, 2023
93,11818.0
4,174 186.5
4,564
22.1
2,693
65.9
Nine months ended December 31, 2022
78,94012.2
1,457–
3,737 (27.5)
1,623 (37.4)
Earnings per share

Diluted earnings per shareYen
141.2885.17

Nine months ended December 31, 2023
Nine months ended December 31, 2022

Yen––(2) Consolidated financial position
Total assets

Net assetsMillions of yen
87,217
79,697

As of December 31, 2023
As of March 31, 2023

Equity ratio

Millions of yen
43,654
41,403

Net assets per share%
50.1
52.0

Yen
2,289.92
2,171.84

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

2nd quarter-end

3rd quarter-end

Fiscal year-end

Year ended March 31, 2023

Yen–

Yen
12.00

Yen–

Yen
12.00

Yen
24.00

Year ending March 31, 2024

–

12.00

–
12.00

24.00

Year ending March 31, 2024 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)
Net sales
Full year

Millions of yen
125,700

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
Earnings per shareowners of parent% Millions of yen% Millions of yen% Millions of yen
%
Yen
17.9
4,500 206.5
5,000
27.7
3,000 139.0
157.371

4. Notes(1) Changes in significant subsidiaries during the nine months ended December 31, 2023
(changes in specified subsidiaries resulting in the change in scope of consolidation):(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

NoNo(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:No
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

No
No

Restatement of prior period financial statements:

No(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2023

19,063,968 shares As of March 31, 2023

19,063,968 shares

Number of treasury shares at the end of the period
As of December 31, 2023

343 shares As of March 31, 2023

317 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Nine months ended December 31, 2023

19,063,631 shares Nine months ended December 31, 2022

219,055,734 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Thousands of yen)
As of March 31, 2023

As of December 31, 2023

AssetsCurrent assets
Cash and deposits

14,879,375

16,743,397

Notes and accounts receivable - trade, and contract assets
Merchandise and finished goods

3,158,418
1,123,274

4,232,478
1,436,713

Raw materials and supplies
Other

6,605,085
1,229,822

5,852,880
1,829,750

Total current assets

26,995,977

30,095,220

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

19,239,670
2,343,167

21,835,023
2,165,551

Tools, furniture and fixtures, net
Leased assets, net

2,453,290
1,636,117

2,979,712
2,250,518

LandConstruction in progress

9,344,454
364,641

9,344,473
305,263

Non-current assets
Property, plant and equipment

Other, net–

561,21135,381,342

39,441,754

SoftwareOther

399,043
66,207379,305
70,023

Total intangible assets

465,250449,328

Investments and other assets
Investment securities

89,831

93,826

Leasehold and guarantee deposits
Long-term prepaid expenses

11,533,793
296,277

12,143,827
381,220

Deposits for stores in preparation
Deferred tax assets

404,635
3,488,067

506,792
3,545,139

183,979
867,336

103,771466,535

Total property, plant and equipment
Intangible assets

Investment property, net
Other
Allowance for doubtful accounts(9,344)(9,633)

Total investments and other assets

16,854,578

17,231,480

52,701,170

57,122,563

79,697,148

87,217,784

Total non-current assets
Total assets3

(Thousands of yen)
As of March 31, 2023

As of December 31, 2023

Liabilities
Current liabilities
Accounts payable - trade
Short-term borrowings

2,314,082
24,713

3,017,008
6,500,000

Current portion of long-term borrowings
Accounts payable - other

4,401,756
5,141,215

4,401,7565,851,299

Lease liabilities
Income taxes payable

433,510
749,906

705,575
892,859

Provision for bonuses
Other1,307,282
2,836,966

715,7932,502,434

Total current liabilities

17,209,433

24,586,728

Non-current liabilities
Long-term borrowings

14,905,769

11,604,452

567,800

567,800

1,355,802
4,088,121

2,363,044
4,297,162

2,927
164,161

3,307
141,208

21,084,583

18,976,975

38,294,016

43,563,703

Shareholders' equity
Share capital

6,655,932

6,655,932

Capital surplus
Retained earnings

6,976,341
27,867,606

6,976,404
29,925,934

Provision for retirement benefits for directors (and otherofficers)
Lease liabilities
Asset retirement obligations
Deferred tax liabilities
Other
Total non-current liabilities
Total liabilities
Net assets

Treasury shares

(726)

(894)

41,499,153

43,557,377

Valuation difference on available-for-sale securities
Foreign currency translation adjustment

1,123(97,145)

3,687
93,016

Total accumulated other comprehensive income(96,021)96,704

41,403,131

43,654,081

79,697,148

87,217,784

Total shareholders' equityAccumulated other comprehensive income

Total net assets
Total liabilities and net assets

4Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Thousands of yen)
Nine months ended
December 31, 2022

Nine months ended
December 31, 2023

Net sales

78,940,043

93,118,836

Cost of sales

26,447,373

31,710,497

Gross profit

52,492,669

61,408,339

Selling, general and administrative expenses

51,035,588

57,233,913

Operating profit

1,457,080

4,174,425Non-operating income
Interest income

11,351

14,445

Dividend income
Rental income

1,875
158,496

1,878
149,861

151,046
1,991,144

216,268–

203,960

269,4442,517,872

651,897

Interest expenses
Rental expenses

63,747148,090

79,601147,060

Other

25,20635,208

Total non-operating expenses

237,043

261,870

3,737,910

4,564,452

568

6,211

93,607
17,099––Outsourcing service income
Subsidy incomes
Other
Total non-operating income
Non-operating expenses

Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Compensation for expropriation
Gain on receipt of donated non-current assets
Other

5,818

257

117,094

6,469

Loss on retirement of non-current assets
Loss on store closings

5,124
12,083

10,222
3,443

Loss on sale of non-current assets
Impairment losses

1,232
789,545

4,779
513,709

Loss on reversal of foreign currency translation adjustment
Other–
34,064130,689
1,907

Total extraordinary income
Extraordinary losses

842,049

664,751

Profit before income taxes

Total extraordinary losses

3,012,954

3,906,170

Income taxes - current
Income taxes - deferred

1,085,624
304,323

1,270,772(57,823)

Total income taxes

1,389,947

1,212,949

Profit

1,623,006

2,693,221

Profit attributable to owners of parent

1,623,006

2,693,2215

Consolidated statements of comprehensive income (cumulative)(Thousands of yen)
Nine months ended
December 31, 2022
ProfitNine months ended
December 31, 2023

1,623,006

2,693,221

(58)

2,563

Foreign currency translation adjustment(37,738)

190,162

Total other comprehensive income(37,796)

192,725

Comprehensive income

1,585,209

2,885,946

Comprehensive income attributable toComprehensive income attributable to owners of parent

1,585,209

2,885,946––

Other comprehensive income
Valuation difference on available-for-sale securities

Comprehensive income attributable to non-controllinginterests

6