Note: This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy
between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results
for the Year Ended March 31, 2024
[Japanese GAAP]May 9, 2024
Company name: IMURAYA GROUP CO., LTD.
Stock exchange listing: Tokyo, Nagoya
Code number: 2209
URL: https://www.imuraya-group.com/
Representative: Yasuki Onishi, President and Representative Director
Contact: Jiro Tominaga, Executive Vice President and Chief Financial OfficerPhone: 050-1791-2014
Scheduled date of Annual General Meeting of Shareholders: June 21, 2024
Scheduled date of commencing dividend payments: June 24, 2024
Scheduled date of filing annual securities report: June 21, 2024
Availability of supplementary briefing material on annual financial results: No
Schedule of annual financial results briefing session: No(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2024 (April 1, 2023 to March 31, 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%
Fiscal year ended
March 31, 2024
48,222
7.9
2,537
27.3
2,904
27.1
1,930
19.8
March 31, 2023
44,685
6.0
1,992
16.9
2,284
10.1
1,611
9.4(Note) Comprehensive income:Fiscal year ended March 31, 2024: ¥ 2,688 million [ 63.9%]
Fiscal year ended March 31, 2023: ¥ 1,640 million [ 9.0%]
Basic earnings per Diluted earnings per Rate of return onshareshareequity
Yen
Fiscal year ended
March 31, 2024
147.56
March 31, 2023
123.15(Reference) Equity in earnings (losses) of affiliated companies:

Yen

Ordinary profit tototal assets ratio

%

9.7
9.0
Fiscal year ended March 31, 2024:
Fiscal year ended March 31, 2023:¥¥

Operating profit tonet sales ratio

%%

8.0
7.2
- million- million

5.3
4.5(2) Consolidated Financial Position
Total assets
As ofMarch 31, 2024
March 31, 2023
(Reference) Equity:

Net assets

Millions of yen

As of March 31, 2024:
As of March 31, 2023:

38,09034,107¥ 20,985 million¥ 18,653 million

Capital adequacy ratio

Net assets per share

Millions of yen%

Yen

21,005
18,68455.1
54.7

1,603.89
1,425.61(3) Consolidated Cash Flows
Cash flows fromoperating activities
Fiscal year ended
March 31, 2024
March 31, 2023

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at the endof period

Millions of yen

Millions of yen

Millions of yen

Millions of yen

2,671
2,452

(3,545)(2,374)

457
398

1,326
1,689

2. Dividends
Annual dividends
1st2nd3rdquarter-end quarter-end quarter-end

Year-end

Total

Fiscal year ended

YenYenYen

YenMarch 31, 2023

-

0.00

-

28.00

28.00

March 31, 2024

-

0.00

-

31.00

31.00

-

0.00

-

31.00

31.00

Payoutratio

Total
dividends(consolidated)

Yen Millions of yen

Dividends
to netassets(consolidated)

%%

366

22.7

2.0

405

21.0

2.0

Fiscal year ending
March 31, 2025

21.9(Forecast)
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.)
Profit attributable Basic earnings perNet sales
Operating profit
Ordinary profit
to owners of parentshare
Six months ending
September 30, 2024
Full year

Millions ofyen%Millions ofyen%Millions ofyen%Millions ofyen%

Yen

23,900

4.0

1,150

4.2

1,200

(13.0)

820(14.0)

62.67

49,500

2.6

2,600

2.5

2,700

(7.0)

1,850

(4.2)

141.40* Notes:(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes inscope of consolidation): No(2) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: No
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(3) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
March 31, 2024: 13,086,200 shares
March 31, 2023: 13,086,200 shares
2) Number of treasury shares at the end of the period:
March 31, 2024: 2,303 shares
March 31, 2023: 1,919 shares
3) Average number of shares outstanding during the period:
Fiscal Year ended March 31, 2024: 13,084,069 sharesFiscal Year ended March 31, 2023: 13,084,362 shares

(Reference) Summary of Non-consolidated Financial Results
1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2024 (April 1, 2023 to March 31, 2024)(1) Non-consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net sales
Fiscal year ended
March 31, 2024
March 31, 2023

Operating profit

Ordinary profit

Net income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

6,054
5,105

18.6
23.7

2,151
1,418

51.7
88.0

2,476
1,627

52.2
65.1

2,173
1,096

98.2
66.2

Basic earnings per share Diluted earnings per share
Fiscal year ended
March 31, 2024
March 31, 2023

Yen

Yen

166.12
83.80-(2) Non-consolidated Financial Position
Total assets
As ofMarch 31, 2024
March 31, 2023
(Reference) Equity:

Net assetsMillions of yen

As of March 31, 2024:
As of March 31, 2023:

24,24521,097¥ 18,692 million¥ 16,346 million

Capital adequacy ratio

Net assets per share

Millions of yen%

Yen

18,692
16,346

77.1
77.5

1,428.67
1,249.35

Consolidated Financial Statements
Consolidated Balance Sheets(Thousands of yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Accounts receivable - trade
Merchandise and finished goods
Work in process
Raw materials and supplies
OtherAllowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, netLand
Leased assets
Accumulated depreciation
Leased assets, net
Construction in progress
Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Leased assets
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Retirement benefit asset
OtherAllowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

1

As of March 31, 2024

1,689,190
5,506,881
3,109,594
339,849
993,321
1,098,141(1,189)12,735,789

1,326,715
8,084,740
3,178,595
315,921795,870
726,521(1,450)14,426,915

19,245,265(11,204,371)
8,040,893
18,689,994(14,660,478)
4,029,516
4,253,858
1,375,068(329,599)
1,045,468
812,518
1,006,206(841,413)
164,792
18,347,048

20,337,950(11,730,635)
8,607,315
20,318,959(14,991,860)
5,327,098
4,369,858
1,237,804(277,445)
960,358
19,182
1,051,946(889,950)
161,995
19,445,809

127,051
42,700169,751

110,105
25,351
135,456

1,482,989
1,252
234,223
917,445
231,503(12,756)
2,854,658
21,371,458
34,107,247

2,233,321
1,252
245,393
1,404,321
202,065(4,276)
4,082,078
23,663,344
38,090,260

(Thousands of yen)
As of March 31, 2023
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Current portion of long-term borrowings
Lease liabilities
Accounts payable - other
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Other
Total current liabilities
Non-current liabilities
Lease liabilities
Deferred tax liabilities
Provision for officer' retirement benefits
Retirement benefit liability
Asset retirement obligations
Deferred tax liabilities for land revaluation
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

2

As of March 31, 2024

2,739,475
1,864,294
2,600,000
100,536
184,629
3,746,564
626,512601,187

3,075,620
1,911,032
3,700,000
182,616
3,527,395
608,005
652,551

35,00050,000422,598
12,920,797

694,846
14,402,069

1,102,103
123,806
56,58038,472142,055
912,211
126,789
2,502,018
15,422,816

1,008,940
417,371
68,592
143,213912,211132,1442,682,474
17,084,543

2,576,539
3,810,519
9,841,358(4,221)
16,224,196

2,576,539
3,810,519
11,405,673(5,104)
17,787,628

201,956

741,415

1,930,419
13,953
282,5712,428,901
31,333
18,684,431
34,107,247

1,930,419(68,865)594,532
3,197,501
20,58621,005,716
38,090,260

Consolidated Statements of Income and Comprehensive IncomeConsolidated Statements of Income(Thousands of yen)
For the fiscal year
ended March 31, 2023
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Dividend income
Rental income from buildings
Foreign exchange gains
OtherTotal non-operating income
Non-operating expenses
Interest expenses
OtherTotal non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of investment securities
Subsidy income
Income insurance
Compensation income
Other
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Impairment losses
Loss on disposal of inventories
Loss on sale of golf club membership
Other
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitLoss attributable to non-controlling interests
Profit attributable to owners of parent

3

For the fiscal year
ended March 31, 2024

44,685,134
29,073,965
15,611,169
13,618,412
1,992,756

48,222,571
31,917,717
16,304,853
13,767,829
2,537,024

49,05834,450149,567
87,965321,041

57,41232,145
227,633
107,533
424,725

22,381
7,053
29,4352,284,363

51,3095,944
57,2532,904,495

17,093444,257
1,615
148,158544
611,668

64,99912,536
77,536

18,875
301,672
87,9073,796
412,252
2,483,779
927,772(43,070)884,701
1,599,077(12,291)
1,611,369

27,61456,0892,917
86,621
2,895,411
1,030,518(54,950)
975,567
1,919,843(10,831)1,930,674

Consolidated Statements of Comprehensive Income(Thousands of yen)
For the fiscal year
ended March 31, 2023
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to non-controllinginterests

4

For the fiscal year
ended March 31, 2024

1,599,077

1,919,843

97,804(2,601)(53,459)
41,743
1,640,821

539,458(82,735)
311,960
768,6842,688,527

1,653,406

2,700,795(12,585)(12,268)

Consolidated Statements of Changes in Equity
For the fiscal year ended March 31, 2023
(Thousands of yen)
Shareholders' equity
Share capital
Balance at beginningof period
Changes during
periodDividends ofsurplus
Profit attributable toowners of parent
Purchase of treasury
sharesChange in scope ofconsolidation
Net changes initems other thanshareholders' equity
Total changes
during period
Balance at end ofperiod

Capital surplus

2,576,539

Retained earnings

3,810,519

8,580,110

Treasury shares(3,952)

Total shareholders'equity
14,963,217(340,194)(340,194)

1,611,369

1,611,369(269)(9,926)(269)(9,926)--

1,261,248(269)

1,260,9782,576,539

3,810,519

9,841,358(4,221)

16,224,196

Accumulated other comprehensive income
Valuation difference
Foreign currency
Total accumulated
Revaluation reserve
Remeasurements ofon available-for-saletranslation
other comprehensive
for landdefined benefit planssecurities
adjustment
incomeBalance at beginningof period
Changes during
periodDividends ofsurplusProfit attributable toowners of parent
Purchase of treasury
sharesChange in scope of
consolidation
Net changes initems other thanshareholders' equity
Total changes
during period
Balance at end of
period104,151

1,930,419

13,835336,0312,384,438

97,804-

117(53,459)

44,46397,804-

117(53,459)

44,463201,956

1,930,419

13,953

282,5712,428,901

5

Balance at beginningof period
Changes during
periodDividends ofsurplus
Profit attributable toowners of parent
Purchase of treasury
sharesChange in scope ofconsolidation
Net changes in
items other thanshareholders' equity
Total changes
during period
Balance at end of
periodNon-controllinginterests

Total net assets

44,536

17,392,192(340,194)
1,611,369(269)(9,926)(13,202)31,260(13,202)

1,292,239

31,333

18,684,431

6

For the fiscal year ended March 31, 2024
(Thousands of yen)
Shareholders' equity
Share capital
Balance at beginningof period
Changes during
periodDividends ofsurplusProfit attributable toowners of parent
Purchase of treasury
sharesChange in scope of
consolidation
Net changes in
items other thanshareholders' equity
Total changes
during period
Balance at end ofperiod

Capital surplus

2,576,539

Retained earnings

3,810,519

9,841,358

Treasury shares(4,221)

Total shareholders'equity16,224,196(366,359)(366,359)

1,930,674

1,930,674
(882)

(882)
---

1,564,314(882)

1,563,432

2,576,539

3,810,519

11,405,673(5,104)

17,787,628

Accumulated other comprehensive income
Valuation difference
Foreign currency
Total accumulated
Revaluation reserve
Remeasurements ofon available-for-saletranslation
other comprehensive
for landdefined benefit planssecurities
adjustment
incomeBalance at beginningof period
Changes during
periodDividends ofsurplus
Profit attributable toowners of parent
Purchase of treasury
sharesChange in scope of
consolidation
Net changes in
items other thanshareholders' equity
Total changes
during period
Balance at end of
period201,956

1,930,419

13,953

282,5712,428,901

539,458-(82,819)

311,960

768,600

539,458-(82,819)

311,960

768,600

741,415

1,930,419(68,865)594,532

3,197,501

7

Balance at beginningof period
Changes during
periodDividends ofsurplus
Profit attributable toowners of parent
Purchase of treasuryshares
Change in scope ofconsolidation
Net changes initems other thanshareholders' equity
Total changes
during period
Balance at end of
periodNon-controllinginterests

Total net assets

31,333

18,684,431(366,359)
1,930,674(882)(10,747)

757,852(10,747)

2,321,284

20,58621,005,716

8

Consolidated Statements of Cash Flows(Thousands of yen)
For the fiscal year
ended March 31, 2023
Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment losses
Increase (decrease) in allowance for doubtful accounts
Interest and dividend incomeInterest expenses
Foreign exchange losses (gains)
Loss (gain) on sale and retirement of non-current
assets
Subsidy income
Compensation income
Loss (gain) on sale of investment securities
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in accounts payable - other
Increase (decrease) in accrued consumption taxes
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for bonuses for
directors (and other officers)
Increase (decrease) in retirement benefit liabilityDecrease (increase) in retirement benefit asset
Increase (decrease) in provision for officers' retirement
benefits
Other, net
SubtotalInterest and dividends received
Interest paid
Compensation income received
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Subsidies received
Purchase of investment securities
Proceeds from sale of investment securities
Other proceeds
Net cash provided by (used in) investing activities

9

For the fiscal year
ended March 31, 2024

2,483,779
1,698,283
301,672(12)(58,162)
22,381(91,960)

2,895,411
2,042,281
56,089261(67,889)
51,309(139,696)

18,872

27,614(444,257)(148,158)(17,093)(303,331)(728,728)
261,912373,656(125,657)
73,086(64,999)(2,563,548)
220,316
289,978
251,044
190,823
51,309-15,000(74,871)(28,225)

403,795(486,875)

16,716

12,012(165,084)
3,064,817
58,162(21,217)
148,158(797,680)
2,452,239

526,618
3,710,857
67,889(51,309)(1,056,198)
2,671,238(2,856,456)
550
444,257(4,576)
38,4133,090(2,374,721)(3,616,040)(232)
64,999(4,818)50
10,935(3,545,107)

(Thousands of yen)
For the fiscal year
ended March 31, 2023
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Repayments of long-term borrowings
Repayments of lease liabilities
Purchase of treasury shares
Dividends paid
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Increase in cash and cash equivalents resulting from
inclusion of subsidiaries in consolidation
Cash and cash equivalents at end of period

10

For the fiscal year
ended March 31, 2024

1,200,000(267,228)(194,615)(269)(339,447)
398,440

1,100,000(100,536)(174,375)(882)(366,906)
457,299

33,66754,094

509,624
1,069,855(362,474)
1,689,190

109,709-1,689,190

1,326,715