BRIEF STATEMENT OF CONSOLIDATED FINANCIAL RESULTS
FOR THE 3rd QUARTER OF THE FISCAL YEAR ENDED MARCH 2024

Balance Sheet & Income Statements
This is an English translation of summarized consolidated financial results prepared
for the convenience of non-resident shareholders. Should there be any inconsistency
between the translation and the official Japanese text, the latter shall prevail.

We will post the full version as soon as it is available.

February 14, 2024

Faith, Inc. (Stock code 4295, TSE Standard section)
Period: from April 1, 2023 to December 31, 2023

(URL https://www.faith.co.jp/)

Table of Contents
1. Consolidated Financial Statements and Main Explanatory Notes…………………………………… 2(1) Consolidated Balance Sheet…………………………………………………………………....… 2(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income … 4(Consolidated Statement of Income) …………………………………………………………… 4(Consolidated Statement of Comprehensive Income) ………………………………………… 51

1 Consolidated Financial Statements and Main Explanatory Notes(1) Consolidated Balance Sheet(Thousands of yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Accounts receivable - trade
Contract assets
Marketable Securities
Merchandise and finished goods
Work in process
Raw materials and supplies
Income taxes refund receivable
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
Total assets
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Current portion of long-term borrowings
Accounts payable - otherAccrued expenses
Income taxes payable
Provision for bonuses
Contract liabilities
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Retirement benefit liability
Provision for share awards for directors(and other officers)
Asset retirement obligations
Deferred tax liabilities
Other
Total non-current liabilities
Total liabilities

2As of December 31, 2023

11,024,018
6,8731,992,323
920
218,509290,769
373,434
62,796
175,393
796,954△23,801
14,918,191

10,125,776
5,672
1,904,430
150
216,491
348,048
380,306
40,824
401
902,190△22,455
13,901,837

3,581,540

3,523,211

1,149,180
359,067
1,508,248

1,058,612
379,4421,438,055

3,621,214
210,402
1,064,557△677,703
4,218,470
9,308,259
24,226,451

2,104,279
64,229396,094△109,238
2,455,364
7,416,631
21,318,469

765,755
390,000
495,350
906,621
3,141,533
27,201
295,468
48,216
742,554
6,812,700

758,127
387,501
433,200
666,810
3,150,883
82,912
188,12133,156859,178
6,559,890

924,800
504,822599,900
466,272

47,15836,14639,333
482,410
29,3352,027,860
8,840,561

39,333
192,355
9,357
1,343,365
7,903,256

(Thousands of yen)
As of March 31, 2023
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
Remeasurements of defined benefit plans
Total accumulated other comprehensive
incomeNon-controlling interests
Total net assets
Total liabilities and net assets

3

As of December 31, 2023

3,218,000
2,840,496
9,851,724△2,422,510
13,487,710

3,218,000
2,840,416
8,886,840△2,414,581
12,530,675

1,848,510

855,184△8,87958,547△8,90338,255

1,898,179

884,537－
15,385,889
24,226,451－
13,415,213
21,318,469

(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income(Consolidated Statement of Income)(Thousands of yen)
Nine months ended
December 31, 2022
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating loss
Non-operating income
Interest income
Dividend income
Interest on securities
Gain on investments in investment partnerships
Foreign exchange gains
Subsidy income
Gain on reversal of reserve for directors'
stock benefits
Miscellaneous income
Total non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using
equity method
Loss on investments in investment partnerships
Loss on valuation of securities
Foreign exchange lossesSettlement payments
Miscellaneous expenses
Total non-operating expenses
Ordinary loss
Extraordinary income
Gain on sale of non-current assets
Gain on sale of businesses
Total extraordinary income
Extraordinary losses
Loss on disposal of non-current assets
Loss on valuation of investment securities
Total extraordinary losses
Loss before income taxes
Income taxes - current
Income taxes - deferred
Loss
Loss attributable to owners of parent

4

Nine months ended
December 31, 2023

11,419,587
7,113,276
4,306,310
4,518,834△212,523

10,087,158
6,247,892
3,839,265
4,332,930△493,664

138
4,825
132
569
－
42,984

57
6,628
393
7,064
415
755

－

6,853

23,253
71,903

21,464
43,631

5,919

6,564

22,172

72,89910,457
8,840
614
－
594
48,598△189,217

6,003
2,913
－
11,155
12,909112,447△562,480

4,882
－
4,882

2,327
25,00027,327

1,901
－
1,901
△186,236
83,768△15,646△254,358△254,358

0
1,784
1,784
△536,937
48,460268,602△854,001△854,001

(Consolidated Statement of Comprehensive Income)(Thousands of yen)
Nine months ended
December 31, 2022
Loss
Other comprehensive income
Valuation difference on available-for-salesecurities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net oftax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable tonon-controlling interests

5

Nine months ended
December 31, 2023

△254,358△854,001

753,273△993,325－△233,649△20,292

756,922502,564△1,013,641△1,867,643

502,564△1,867,643－－