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 June 30, 2023
(Based on Japanese GAAP)
Company name:

Stock exchange listing: Tokyo
Stock code:
4376
Representative:
Inquiries:

August 14, 2023

Kufu Company Inc.
URL

https://kufu.company/

Director & Representative Executive Officer Yoshiteru Akita
Director & Executive OfficerJun Kanma

TEL

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

August 14, 2023–

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

03-6264-2323(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the nine months ended June 30, 2023 (from October 1, 2022 to June 30, 2023)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profitOrdinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Nine months ended June 30, 2023
15,789
18.7
1,608
59.9
1,497
61.0
573 145.0
Nine months ended June 30, 2022
13,303
–
1,006
–
929
–
234
–
(Note) EBITDA (operating profit + depreciation and amortization): Nine months ended June 30, 2023: 2,389 million yen [34.8%]
Nine months ended June 30, 2022: 1,773 million yen [–%]
Earnings per share

Diluted earnings per share

Yen
10.04
4.02

Nine months ended June 30, 2023
Nine months ended June 30, 2022

Yen
10.00
4.01

(2) Consolidated financial position
Total assets
As of June 30, 2023
As of September 30, 2022

Net assets

Millions of yen
21,363
21,329Equity ratio

Millions of yen
11,511
11,663

%
46.3
47.7

2. Cash dividends
Annual dividends per share

Year ended September 30, 2022
Year ending September 30, 2023
Year ending September 30, 2023
(Forecast)

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen
––

Yen
0.00
0.00

Yen––

Yen
0.00

Yen
0.000.00

0.00

3. Forecast of consolidated financial results for the year ending September 30, 2023 (from October 1, 2022 to September 30, 2023)
Percentages indicate year-on-year changes
Net sales
Full year

Millions of yen
21,000Operating profit% Millions of yen
12.8
2,000

1

EBITDA% Millions of yen
28.4
3,100%
20.1

Total

4. Notes(1) Changes in significant subsidiaries during the nine months ended June 30, 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:

Yes
No(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:
Yes
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

NoNo

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 June 30, 2023

58,299,259 shares As of September 30, 2022

58,286,959 shares

Number of treasury shares at the end of the period
As of June 30, 2023

2,002,143 shares As of September 30, 2022

1,001,413 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Nine months ended June 30, 2023

57,116,225 shares Nine months ended June 30, 2022

258,227,226 shares

Quarterly consolidated financial statements
Consolidated balance sheets

As of September 30, 2022

(Millions of yen)
As of June 30, 2023

7,269
1,007
84168
22,758
2,979
596
(38)
14,826

9,240
986
287
294
2
1,649
1,313
585
(53)
14,307

397

671

3,526
527
4,053

3,756
723
4,480

678
825
834
(291)
2,047
6,498
4
21,329636
467
1,084(282)
1,904
7,056
–
21,363

AssetsCurrent assets
Cash and deposits
Accounts receivable - trade
MerchandiseWork in process
Raw materials and supplies
Real estate for sale
Operational investment securities
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Goodwill
OtherTotal 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
Deferred assets
Total assets3

As of September 30, 2022

(Millions of yen)
As of June 30, 2023

550
8
4
2,981
1,034
3
313
1,104
30
445
244
59
910
7,295

666
5
3
3,281
822
–
403
1,244
12
4
45
–
4
1,039
7,533

8
1,840
95
225
146–

–
1,654
130
21
122
20–

87

54
2,370
9,666

281
2,318
9,851

13
9,016
1,191(443)
9,777

13
9,018
1,764(909)
9,888

399

(13)

6
406
10
1,469
11,663
21,329

7
(6)
10
1,619
11,511
21,363Liabilities
Current liabilities
Accounts payable - trade
Outstanding claims
Policy reserve
Short-term borrowings
Current portion of long-term borrowings
Asset retirement obligations
Income taxes payable
Advances received
Provision for bonuses
Provision for point services
Correction related cost
Provision for loss on relocation
Provision for loss on business liquidation
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Asset retirement obligations
Deferred tax liabilities
Provision for share awards
Retirement benefit liability
Provision for retirement benefits for directors(and other officers)
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
Foreign currency translation adjustment
Total accumulated other comprehensive income
Share acquisition rights
Non-controlling interests
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)(Millions of yen)
Nine months ended
Nine months ended
June 30, 2022
June 30, 2023
Net sales
13,303
15,789
Cost of sales
6,542
8,194
Gross profit
6,760
7,595
Selling, general and administrative expenses
5,754
5,987
Operating profit
1,006
1,608
Non-operating income
Interest income01
Foreign exchange gains
34–
Insurance income017
Other
20
17
Total non-operating income
5436
Non-operating expenses
Interest expenses
33
36
Commission expenses
5346
Foreign exchange losses–
1Loss on equity method investment
32
44
Other
11
19
Total non-operating expenses
131
147
Ordinary profit
929
1,497
Extraordinary income
Gain on sale of non-current assets
00
Gain on reversal of share acquisition rights
00
Gain on differences between asset retirement–2
obligations and actual asset retirement costs
Gain on reversal of provision for share awards–17
Gain on reversal of provision for loss on relocation–
51
Total extraordinary income
072
Extraordinary losses
Loss on sale of non-current assets
8–
Loss on retirement of non-current assets
13
Impairment losses
19Provision for loss on business liquidation
124
Loss on business liquidation–
10
Settlement package
10–
Loss on litigation
29
Other
911
Total extraordinary losses
46
48
Profit before income taxes
884
1,521
Income taxes - current
445
606
Income taxes - deferred
65
196
Total income taxes
510
803
Profit373
717
Profit attributable to non-controlling interests139144
Profit attributable to owners of parent
234
573

5

Consolidated statements of comprehensive income (cumulative)

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable to noncontrolling interests

6

Nine months ended
June 30, 2022
373

(Millions of yen)
Nine months ended
June 30, 2023
717

(1,078)8(1,070)
(697)

(412)
0(412)
305

(836)

161

139

144