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 Three Months Ended June 30, 2024
(Based on Japanese GAAP)
August 8, 2024
Company name:
PUNCH INDUSTRY CO., LTD.
Stock exchange listing: Tokyo
Stock code:
6165
URL https://www.punch.co.jp/ir/
Representative:
Chief Executive Officer
Inquiries:
Chief Financial Officer
Scheduled date to commence dividend payments:
Preparation of supplementary material on financial results:

Tetsuji Morikubo
Takao Murata–No

Holding of financial results meeting:

NoTEL 03-5753-3130(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended June 30, 2024 (from April 1, 2024 to June 30, 2024)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Three months ended June 30, 2024
9,660
2.3
303 208.5
358
5.7
143
20.5
Three months ended June 30, 2023
9,442
(7.7)
98 (86.0)
338 (51.5)
119 (72.1)
Earnings per share
Yen
5.87
4.88

Three months ended June 30, 2024
Three months ended June 30, 2023

Diluted earnings per share
Yen
5.86
4.87

(2) Consolidated financial position

As of June 30, 2024
As of March 31, 2024

Total assets
Millions of yen
29,70929,649Net assets
Millions of yen
19,35418,750Equity ratio
%65.0
63.1

2. Cash dividends

Year ended March 31, 2024
Year ending March 31, 2025

1st quarter-end
Yen––

Annual dividends per share
2nd quarter-end
3rd quarter-end
Fiscal year-end
Yen
Yen
Yen
10.00
–
9.40

Year ending March 31, 2025 (Forecast)

9.80

–

9.81

Total
Yen
19.40
19.61

3. Forecast of consolidated financial results for the year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
Earnings per shareowners of parentMillions of yen% Millions of yen% Millions of yen% Millions of yen%Yen
Six months ending
18,800(1.7)
700 34.1
680 (15.9)
250–
10.22
September 30, 2024
Full year
38,5000.4
2,150 73.3
2,100 47.7
1,200–
49.05

1

4. Notes(1) Significant changes in the scope of consolidation during the three months ended June 30, 2024:(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

NoNo(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:No
Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(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, 2024

24,622,400 shares As of March 31, 2024

24,622,400 shares

Number of treasury shares at the end of the period
As of June 30, 2024

157,772 shares As of March 31, 2024

157,072 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2024

24,464,763 shares Three months ended June 30, 2023

224,431,059 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2024
AssetsCurrent assets
Cash and deposits

As of June 30, 2024

6,031

5,204

Notes receivable - trade
Accounts receivable - trade
Merchandise and finished goods
Work in process

1,735
9,233
2,333642

1,639
9,821
2,380679Raw materials and supplies
Other
Allowance for doubtful accounts

1,345
614
(33)

1,319
838
(39)

Total current assets

21,903

21,845

Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation

6,113

6,283

(4,515)(4,651)

Buildings and structures, net

1,598

1,631

Machinery, equipment and vehicles
Accumulated depreciation

16,960(13,091)

17,564(13,622)

3,869

3,942

2,819
(2,378)2,917(2,484)

Machinery, equipment and vehicles, net
Tools, furniture and fixtures
Accumulated depreciation

440

433

LandTools, furniture and fixtures, net

741

743

Construction in progress
Other
Accumulated depreciation

42525(370)45548(384)

155

164

6,848

6,960

417
200

405
202

Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Other

618

608

Investments and other assets
Investments and other assets
Allowance for doubtful accounts

Total intangible assets

312(33)325(30)

Total investments and other assets

278

295

7,745

7,864

29,64929,709Total non-current assets
Total assets3

(Millions of yen)
As of March 31, 2024

As of June 30, 2024

Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating

2,628
919

2,910
561

Current portion of long-term borrowings
Income taxes payable
Provision for bonuses
Other

1,351
213
302
2,190

1,296
162
330
2,043

Total current liabilities

7,605

7,303

Non-current liabilities
Long-term borrowings

2,202

1,914

––
825
265

11866
265

3,293

3,051

Total liabilities

10,89910,355

Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares

3,406
2,968
8,961(76)

3,406
2,968
8,875(76)15,25915,1733,491(40)4,199(60)

3,451

4,139

14
24

14
26

18,75019,35429,64929,709Provision for bonuses
Provision for directors' bonuses
Retirement benefit liability
Other
Total non-current liabilities

Total shareholders' equity
Accumulated other comprehensive income
Foreign currency translation adjustment
Remeasurements of defined benefit plans
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)Three months ended
June 30, 2023

Three months ended
June 30, 2024

Net sales

9,442

9,660

Cost of sales

7,026

7,128

Gross profit

2,416

2,531

Selling, general and administrative expenses

2,317

2,227

Operating profit

98

303

Non-operating income
Interest income

1315

Foreign exchange gains
Other192
51

38
17

Total non-operating income

257

72

133

13
4

Non-operating expenses
Interest expenses
Other
Total non-operating expenses

1617338

358

Extraordinary income
Gain on sale of non-current assets

40

Total extraordinary income

403118196

12198

Profit before income taxes

222260

Income taxes - current
Income taxes - deferred

95
5114
0

Total income taxes

100115

Net Profit

121144

Ordinary profit

Extraordinary losses
Loss on sale and retirement of non-current assets
Impairment losses
Total extraordinary losses

Profit attributable to non-controlling interests
Profit attributable to owners of parent

521119143Consolidated statements of comprehensive income (cumulative)(Millions of yen)Three months ended
June 30, 2023
ProfitOther comprehensive income
Foreign currency translation adjustment

Three months ended
June 30, 2024
121

144

381

708

Remeasurements of defined benefit plans, net of tax

12(20)

Total other comprehensive income

393

688

515

833

511

830

32

Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests6