July 25, 2024

Consolidated Financial Results
For the 1st Quarter Ended June 30, 2024
Company name:

PACIFIC INDUSTRIAL CO., LTD.

Stock exchange listings: Tokyo and Nagoya Stock Exchanges
Stock code number:

7250

URL:

https://www.pacific-ind.co.jp/

Representative:

Tetsushi Ogawa, President

Contact person:

Satoshi Watanabe, Senior General Manager of Accounting Dept.

Telephone:+81-584-93-0117

Scheduled date to commence dividend payments:－Preparation of supplementary material on quarterly financial results: Yes
Holding of quarterly financial results briefing:

Yes(Amounts less than one million yen are omitted)
1. Consolidated Financial Results for FY 2024 1st Quarter (From April 1, 2024 to June 30, 2024)(1) Consolidated Financial Results(%:changes from the same period of the previous fiscal year)
Net Sales
FY2024 1st quarter
FY2023 1st quarter

Operating Income

Profit attribute toOrdinary Income

Million Yen%

Million Yen%

Million Yen%

51,72149,301

4.9
10.9

2,778
3,147

-11.7
89.4

5,137
5,254

-2.2
36.0-45.0%),

FY2023 1st quarter:

owners of parent
Million Yen

4,244
3,956

Note: Comprehensive incomeFY2024 1st quarter: 6,970 million yen (Earnings Per ShareFY2024 1st quarter
FY2023 1st quarter

12,684 million yen (41.9%)

Fully Diluted Earnings
Per ShareYenYen

72.84
67.26

72.69
67.13

(2) Consolidated Financial Position
Net assets excluding

Total Assets

subscription rights to shares

Net Aseets

and Non-controlling interests
as a percentage of total assets

FY2024 1st quarter
FY2023

Million Yen

Million Yen%

288,814
292,455

170,075
167,397

58.5
56.9

Note: Shareholders’ equity: FY2024 1st quarter: 168,918 million yenFY2023: 166,310 million yen

%

7.3
36.0

2. Cash Dividends
1st quarter2nd quarter

Yen

Yen

――FY2023
FY2024FY2024(Forecast)

Annual Cash Dividends Per Share
3rd quarter
4th quarterYen

FY Total

YenYen

22.00

―

55.00

77.00

26.00

―

26.00

52.00

Note: Revisions to the forecasts announced most recently: None

3. Forecasts of Consolidated Financial Results for FY 2024 (From April 1, 2024 to March 31, 2025)(%:changes from the same period of the previous fiscal year)
Net Sales
FY2024 First half
FY2024

Operating Income

Profit attribute toOrdinary Income

Earning Per Shareowners of parent

Million Yen%

Million Yen%

Million Yen%

Million Yen%

Yen

99,000201,000

-3.6
-3.1

5,000
11,500

-33.3
-20.4

7,000
14,500

-32.2
-23.0

5,500
11,000

-27.0
-35.2

94.98
190.93

Note: Revisions to the forecasts announced most recently: Yes

4. Notes(1) Significant changes in the scope of consolidation during the current quarter: None
Newly included:―

Newly excluded:―(2) Application of special accounting methods for the preparation ofquarterly consolidated financial statements: None
(3) Changes in accounting policies, accounting estimates and restatement①

Changes in accounting policies with revision of accounting standards: None②

Changes other than ①: None③

Changes in accounting estimates: None④

Restatement: None

(4) Number of shares issued and outstanding (common stock)①Number of shares outstanding at endof period(including treasury stock)

FY2024
1st quarter

61,312,896 shares

FY 2023

61,312,896 shares②Number of shares of treasury stock atend of period

FY2024
1st quarter

3,435,284 shares

FY 2023

2,755,384 shares③Average number of common stock(quarterly total)

FY2024
1st quarter

58,278,412 shares

FY2023
1st quarter

58,819,012 shares* Review of the accompanying quarterly consolidated financial statements by certified public accountants
or an auditing firm: None
* Explanation about appropriate use of the financial results forecasts, and other noteworthy matters
Statements related to the future, including the forecasts of financial results, described in this document
are based on information currently available to Pacific industrial and on certain assumptions deemed byPacific industrial to be rational.

Consolidated Balance Sheets(Million Yen)FY2023

FY2024FY2023

FY2024(As of Mar.31, 2024)(As of Jun.30, 2024)(As of Mar.31, 2024)(As of Jun.30, 2024)（Assets）（Liabilities）
102,147

97,934

Cash and time deposits

45,12041,479Trade notes and accounts receivable

29,56628,558Merchandise and finished goods

7,522

7,556

Short-term borrowings

Work in process

7,689

8,019

Raw materials and supplies

6,797

Other current assets

5,614

Less: Allowance for doubtful accounts(164)

Current Assets

53,67849,075

Trade notes and accounts payable

13,942

14,427

Electronically recorded obligations - operating

6,530

5,236

Current Liabilities

1010

Current portion of long-term borrowings

6,969

7,059

7,327

Accounts payable - Others

6,749

9,006

5,187

Income taxes payable

7,044

1,697

(193)

Allowance for bonuses

1,844

1,083

Other current liabilities

10,587

10,553

71,38069,663Fixed Assets

190,308

190,880

Property, Plant and Equipment

128,980

131,967

Buildings and structures

50,44551,822

Machinery and vehicles

50,32851,081Long-term borrowings

54,95854,245Tools, Furniture, and fixtures

2,475

2,508

Provision for directors retirement benefit

180

177

Land

11,414

11,565Net defined benefit liabilities

665

686

Lease Asset

1,526

1,496

Other noncurrent liabilities

15,575

14,553

Construction in progress

12,78913,492
Total Liabilities

125,058

118,739

6,059

5,879

Goodwill

2,883

2,894

Other

3,176

2,985

Shareholders' Equity

Intangible Fixed Assets

Noncurrent Liabilities（Net assets）
120,941

120,898

Investments and Other Assets

55,26753,033

Capital stock

7,316

7,316

Investments in securities

43,49340,893

Capital surplus

7,690

7,690

Other fixed assets

11,776

12,143Retained earnings

108,399

109,399(2)(3)(2,465)(3,507)

Less: Allowance for doubtful accounts

Less:Treasury stock at cost

45,36948,019Valuation difference on available securities

19,694

17,532Foreign currency translation adjustments

22,09427,012Remeasurement of defined benefit plan

3,580

3,473

Valuation and Translation Adjustment

Total Assets

292,455

288,814

Subscription rights to shares

9797

Minority Interests
Total Net Assets988

1,059

167,397

170,075

292,455

288,814

Total Liabilities and Net Assets

Consolidated Statements of Income(Million Yen)FY2023

FY2024

For the First Quarter
Jun.30, 2023

For the First Quarter
Jun.30, 2024

Net sales

49,301

51,721

Cost of sales

42,57345,151Gross profit

6,727

6,569

Selling, general and administrative expenses

3,579

3,790

Operating Income (loss)

3,147

2,778

Non-operating income

2,205

2,445

Interest income

74

196

Dividend income

405

312

Equity in earnings of affiliated companies

337

427

Foreign exchange gain

857

860

Subsidy income

41531

Other non-operating income

489

116

Non-operating Expenses

9886

Interest expense

7677

Other non-operating expense

218

Ordinary income (loss)

5,254

5,137

Extraordinary income―

356―

356

20

134

20134

Profit (loss) before income taxes and non controlling interests

5,234

5,359

Income taxes

1,252

1,086

Current term net profit (loss)

3,981

4,272

Gain on sales of fixed assets
Extraordinary Losses
Loss on sales and retirements of fixed assets

Profit (loss) attributable to non-controlling interests
Profit (loss) attributable to owners of parent25

27

3,956

4,244