Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy
between this translated document and the Japanese original, the original shall prevail.

October 13, 2023

Non-consolidated Financial Results
for the Nine Months Ended August 31, 2023
(Under Japanese GAAP)
Company name: T&S inc.
Listing:
Tokyo Stock Exchange
Securities code:4055
URL:
https://www.tecsvc.co.jp
Representative:
Yoshihiro Takekawa, President and CEO
Inquiries:
Hiroshi Kinoshita, Director, Executive Officer and General Manager of Corporate Division
Telephone:+81-45-263-8286
Scheduled date to file quarterly securities report:
October 13, 2023
Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results: Yes
Holding of quarterly financial results briefing:
None(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Non-consolidated financial results for the nine months ended August 31, 2023
(from December 1, 2022 to August 31, 2023)(1) Non-consolidated operating results (cumulative)
Net sales(Percentages indicate year-on-year changes.)

Operating profitOrdinary profit

ProfitNine months ended

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%August 31, 2023

2,520

7.8

461

9.0

465

7.9

326

7.7

August 31, 2022

2,338

18.4

423

52.1

431

51.9

302

51.7

Basic earnings
per share

Diluted earnings
per share

Nine months ended

Yen

Yen

August 31, 2023

43.10

42.78

August 31, 2022

39.94

39.40

(2) Non-consolidated financial position
Total assets
As ofNet assets

Equity-to-asset ratio

Millions of yen

Millions of yen

August 31, 2023

2,378

2,015

84.8

November 30, 2022

2,281

1,733

76.0

Reference:

EquityAs of August 31, 2023:
As of November 30, 2022:¥2,015 million¥1,733 million%

2. Cash dividends
Annual dividends per shareFirst quarter-end

Second quarter-end

Third quarter-end

Yen

Yen

Yen

Fiscal year ended
November 30, 2022
Fiscal year ending
November 30, 2023

-0.00

--

0.00

-

Fiscal year-end

Fiscal year ending
November 30, 2023
(Forecast)

Total

Yen

Yen

6.00

6.00

6.55

6.55

Note: Revisions to the forecast of cash dividends most recently announced: None3. Earnings Forecast of Fiscal year ending on November 30, 2023
(from December 1, 2022 to November 30, 2023)(Percentages indicate year-on-year changes)
Operatingprofit

Net sales

Full-year

Ordinary
ProfitBasic earnings
per share

ProfitMillionsof yen%Millionsof yen%Millionsof yen%Millionsof yen%

Yen

3,700

13.6

700

13.3

703

12.3

495

12.5

65.46

Note: Revisions to the earnings forecast most recently announced: None

* Notes(1) Adoption of accounting treatment specific to the preparation of quarterly non-consolidated financial
statements: None(2) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: Yes(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
(3) Number of issued shares (common shares)(i)

Total number of issued shares at the end of the period (including treasury shares)
As of August 31, 2023

7,633,200 shares

As of November 30, 2022

7,633,200 shares(ii) Number of treasury shares at the end of the period
As of August 31, 2023

54,800 shares

As of November 30, 2022

86,000 shares(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscalyear)
Nine months ended August 31, 2023

7,565,192 shares

Nine months ended August 31, 2022

7,580,576 shares

Quarterly financial statements
Quarterly balance sheet(Thousands of yen)
As of November 30, 2022
AssetsCurrent assets
Cash and deposits
Accounts receivable - trade and contract assets
Work in process
Accounts receivable - other
OtherAllowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Accounts payable - trade
Income taxes payable
Provision for bonuses
Other
Total current liabilities
Non-current liabilities
Provision for retirement benefits
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Total net assets
Total liabilities and net assets

As of August 31, 2023

1,405,466
322,204
22,558349,345
12,892△1,7002,110,767

1,521,124351,699
34,631
307,085
19,254△1,7002,232,095

20,603
2,159
147,970
170,732
2,281,500

20,6001,744
123,562
145,9072,378,002

136,096130,388
67,868
163,879
498,233

145,450
27,694
41,322
92,460306,927

49,76349,763547,996

55,61855,618362,545

340,783
266,662
1,241,774△115,717
1,733,503
1,733,503
2,281,500

340,783
266,662
1,481,764△73,753
2,015,457
2,015,457
2,378,002

Quarterly income statements
Cumulative of nine months ended(Thousands of yen)
Nine months ended
August 31, 2022
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Grant income
Subsidy income
Other
Total non-operating income
Non-operating expenses
Share issuance costs
Commission expenses
Other
Total non-operating expenses
Ordinary profit
Extraordinary losses
Loss on retirement of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitNine months ended
August 31, 2023

2,338,440
1,620,367
718,072
294,799423,273

2,520,546
1,743,691
776,854
315,654461,200

2
－
7,643
1,286
8,932

5
225
4,969
63
5,263

60
406
0
466
431,739

30
520
0
550
465,913321
321
431,418
118,483
10,199128,682
302,735－－
465,913
115,532
24,343
139,875
326,037