May 09, 2023

Summary of Consolidated Financial Results
for the Fiscal Year Ended March 31, 2023
(Japanese Accounting Standards)
Company name:
Stock exchange listing:Stock code:
URL:
Representative:
Contact:

Itoham Yonekyu Holdings Inc.
Tokyo Stock Exchange2296

https://www.itoham-yonekyu-holdings.com

Isao Miyashita, President and Chief Executive Officer
Masaru Kato, General Manager, Public &Investor Relations OfficeTel. +81-3-5723-6889
June 23, 2023
Scheduled date for general shareholders' meeting:June 23, 2023
Scheduled date for filing of securities report:
Scheduled date of commencement of dividend payment: June 05, 2023
Supplementary documents for financial results:
Yes
Quarterly results briefing:
Yes (For institutional investors, analysts)(Amounts of less than one million yen are truncated)

1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2023 (April 1, 2022–March 31, 2023)(1) Consolidated Results of Operations(% figures show year-on-year change)
Profit (loss)
Net sales
Operating profit
Ordinary profit
attributable to owners
For the fiscal year ended
Million Yen% Million Yen% Million Yen% Million Yen%922,68222,994
26,044
16,975 -11.2
March 31, 2023
8.0-6.6-8.9
854,374
24,611
28,596
19,118March 31, 2022――――
18,262 million Yen (-16.9%)(Note) Comprehensive income:The fiscal year ended March 31, 2023
21,979 million Yen (―%)
The fiscal year ended March 31, 2022
Profit (loss)
Diluted net income
Net income to
Ordinary profit toOperating profit
per shareper share
shreholder's equity
assetsto net sales
For the fiscal year ended
YenYen%%%March 31, 2023
58.81
58.79
6.4
6.1
2.5
March 31, 2022
65.34
65.31
7.5
7.1
2.9
439 million Yen(Reference) Equity in income or losses of affiliates:
The Fiscal Year Ended March 31, 2023
605 million Yen
The Fiscal Year Ended March 31, 2022
(Note) As the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29), etc. has been applied from the beginning of the fiscal
year ending March 31, 2022, therefore the percentage change from the same period of the previous year is not stated.

(2) Consolidated financial position

As of March 31, 2023
As of March 31, 2022
(Reference) Shareholders’ equity:

Total assetsNet assets
Million Yen
Million Yen
436,763
269,261
413,123
262,740
As of March 31, 2023
As of March 31, 2022

Equity ratio

Net assets per share%Yen
61.5
943.4063.4
897.66
268,608 million Yen
262,023 million Yen(3) Consolidated cash flows
From operating
activities
For the fiscal year ended
March 31, 2023
March 31, 2022

From investing
activities

Million Yen
3,947
18,473

Cash and cash
equivalents at the endof fiscal year
Million Yen
Million Yen-6,84422,359-10,653
47,690From finacing
activities

Million Yen-22,926-11,251

2. Dividends
Dividend per shareFirst
quarter-end

Secondquarter-end

Thirdquarter-end

Ratio ofFiscalquarter-end

Total

Total amount
total amount of
Dividendof
dividends topayout ratio
shareholders'
cash dividends(consolidated)
equity(annual)(consolidated)

For the fiscal year ended
March 31, 2022
March 31, 2023
For the fiscal year ending
March 31, 2024
(Forecast)

Yen
－－

Yen
0.00
0.00

Yen－－

Yen
23.00
24.00

Yen
23.00
24.00

－

0.00

－

25.00

25.00

Million Yen
6,713
6,833

%
35.2
40.8
47.5

(Note) Consolidation of shares (combining 5 shares of common stock into 1 share, effective date: October 1, 2023) will be proposed at the Ordinary General
Meeting of Shareholders to be held on June 23, 2023. ,In regard to above dividend per share figure for the fisical year ending March 31,2024 (Forecast), it does not consider the consolidation of shares. Incase ofconsidering the consolidation of shares, the company plans to issue a year-end dividend of ￥125.00 per share.

%
2.6
2.6

3. Forecast of Consolidated Financial Results for the Fiscal Year Ending March 31, 2024
(April 1, 2023 to March 31, 2024)
Net Sales
Second quarter-end(Cumulative)
Full year

Operating profit

Million Yen
455,000%
1.6

930,000

0.8

Million Yen%
9,200 -39.2
23,000(% figures show year-on-year change)
Profit (loss)
Ordinary profit
Profit (loss) per share
attributable to owners
Million Yen% Million Yen%
Yen
10,000 -38.1
6,500 -40.4
22.83
25,0000.0

15,000 -11.6

-4.0

52.68

(Note) Consolidation of shares (combining 5 shares of common stock into 1 share, effective date: October 1, 2023) will be proposed at the Ordinary General
Meeting of Shareholders to be held on June 23, 2023.
In regard to above Profit per share figure , it does not consider the consolidation of shares. Incase of considering the consolidation of shares, the second quarter-end(Cumulative) profit per share is ￥114.15 per share and full year profit per share is ￥263.41.

* Notes(1) Changes in significant subsidiaries during the term (changes in specific subsidiaries accompanied by a change in thescope of consolidation):
None
(2)

Chaneges in accounting policies,chaneges of accounting estimates and restatement(i) Changes in accounting policies due to amendments to accounting standards:(ii) Other Chaneges in accounting policies:(iii) Chaneges in accounting esteimates:(iv) Restatement:

None
None
None
None

(3) Numbers of shares outstanding (common stock)(i) Numbers of issued shares at end of period:
Year ended March 31, 2023:
287,355,059 sharesYear ended March 31, 2022:
297,355,059 shares(ii) Numbers of treasury shares at end of period:
Year ended March 31, 2023:
2,632,763 sharesYear ended March 31, 2022:
5,458,762 shares(iii) Average number of shares outstanding during period:
Year ended March 31, 2023:
288,618,824 sharesYear ended March 31, 2022:
292,581,811 shares(Reference) Non-Consolidated Financial Results
Non-Consolidated Financial Results for the Fiscal Year Ended March 31, 2023 (April 1, 2022–March 31, 2023)(1) Non-Consolidated Results of Operations(% figures show year-on-year change)

For the fiscal year ended
March 31, 2023
March 31, 2022

Operating revenue

Operating profit

Ordinary profit

Million Yen
28,34521,300%33.155.0

Million Yen
17,383
15,788Million Yen
17,43315,854

Yen
57.37
49.08

Diluted net income
per shareYen
57.35
49.05

Profit (loss)
per share
For the fiscal year ended
March 31, 2023
March 31, 2022

%
10.1
56.8

(2) Individual financial position

As of March 31, 2023
As of March 31, 2022
(Reference) Shareholders’ equity:

Total assets
Net assets
Million Yen
Million Yen
242,708
205,609230,345
200,684
As of March 31, 2023
As of March 31, 2022

%
10.0
55.4

net income
Million Yen
16,55814,358

%
15.3
39.6

(% figures show year-on-year change)
Equity ratioNet assets per share%
Yen
84.7
721.8787.1
687.11
205,531 million Yen
200,565 million Yen* This Summary of Consolidated Financial Results is outside the scope of the external audit.
* Explanation for using the forecasted informaiton and the other special notes(Notes concerning forward-looking statements, etc.)
This summary financial report contains forward-looking statements and forecasts are made based on information available to thecompany at the time of preparation and certain assumption deemed to reasonable and actual result may significantly due tovarious factors.
For assumptions used for earnings forecasts and notes on the use of earnings forecasts, please refer to “(4) Future outlook”
under “1. Overview of Operations etc.” on page “3”.
(Access to Supplementary Explanations)
We plan to hold a briefing for institutional investors and analysts at the same time as the web conference on Wednesday May 10, 2023.
Explanatory materials for quarterly financial results will be published on TDnet for viewing in Japan and on our website.

ItohamYonekyu Holdings Inc. (2296)

Consolidated Financial Statements and Key Notes(1) Consolidated balance sheets(Million Yen)
As of March 31, 2022
ASSETS
Current assets
Cash and deposits
Notes receivable-trade
Accounts receivable-trade
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net
Tools, furniture & fixtures
Accumulated depreciation
Tools, furniture & fixtures, net
Land
Leased assetsAccumulated depreciation
Leased assets, net
Construction in progress
Others
Accumulated depreciation
Others, net
Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Retirement benefit asset
Other
Allowance for doubtful accounts
Investments and other assets
Total non-current assets
Total Assets

1

As of March 31, 2023

47,991
83
88,92474,814
1,713
19,037
10,848(7)
243,405

22,736
81
95,24197,801
2,020
22,92015,681(20)
256,463

104,678(68,425)
36,252
129,928(101,653)
28,274
7,264(5,733)
1,530
26,017
6,171(3,683)
2,487
2,244
238
(44)
193
97,000108,063(71,127)
36,935
135,652(106,560)
29,091
7,546(6,092)
1,454
26,368
6,873(4,075)
2,797
4,640
245
(59)
185
101,472

18,158
3,955
22,114

18,286
8,555
26,842

29,5981,352
667
14,7224,354(93)
50,602
169,717413,123

30,302
1,202
706
15,3074,552(88)
51,984
180,299
436,763

ItohamYonekyu Holdings Inc. (2296)(Million Yen)

Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Current portion of Long-term borrowings
Lease liabilities
Accounts payable - other
Income taxes payable
Accrued consumption taxes
Provision for bonuses
Provision for bonuses for directors (and other officers)
Provision for loss on disaster
OtherTotal current liabilities
Non-current liabilities
Long-term borrowings
Lease liabilities
Deferred tax liabilities
Retirement benefit liability
Asset retirement obligations
OtherTotal non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury shares
Total shareholder's equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
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

2

As of March 31, 2022

As of March 31, 2023

62,351
1,747
24,407144
752
22,609
2,891
904
6,617
151
329
3,627
126,533

66,978
1,991
32,062
10,126871
23,461
5,024
1,059
6,163
161
329
4,710
152,941

10,572
1,975
5,143
1,706
1,490
2,961
23,849150,383

446
2,166
5,703
1,653
1,469
3,121
14,560167,501

30,00396,615
129,805(4,150)252,273

30,00389,427140,066(1,841)
257,655

6,727
151
(684)
3,556
9,750
118
598
262,740
413,123

6,708
(828)
2,237
2,835
10,952
77
576
269,261436,763

ItohamYonekyu Holdings Inc. (2296)(2) Consolidated statements of income and comprehensive income
Consolidated statements of income(Million Yen)
The Fiscal Year Ended
The Fiscal Year Ended
March 31, 2022
March 31, 2023
(Apr 1, 2021 - Mar 31, 2022） (Apr 1, 2022 - Mar 31, 2023）

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating Income
Interest income
Dividend income
Rental income
Insurance claim income
Subsidy income
Share of profit of entities accounted for using eqity method
OtherTotal non-operating income
Non-operating expenses
Interest expenses
Rental expenses on real estate
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Insurance claim income
Gain on donation of non-current assets
Other
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Loss on valuation of investment securities
Impairment loss
Loss on tax purpose reduction entry of non-current assets
Temporary expenses of human resource system reforms
OthersTotal extraordinary losses
Profit before income taxes
Income taxes-current
Income taxes-deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

3854,374
722,470
131,904
107,292
24,611

922,682
792,556
130,126
107,131
22,994

43
439
433
325
1,880
605
900
4,628

102
378
454
214
1,842
439
847
4,279

318
137
187
644
28,596

799
138
291
1,229
26,044

5
57
134
906
24
1,128

61
35
97

449
3
115
904
38
1,510
28,213
8,374
672
9,047
19,16648
19,118

480
3
327
335
30
1,177
24,964
7,640
303
7,944
17,0194416,975

ItohamYonekyu Holdings Inc. (2296)
Consolidated statements of comprehensive income(Million Yen)
The Fiscal Year Ended
March 31, 2022
(Apr 1, 2021 - Mar 31,2022）

ProfitOther comprehensive income
Valuation difference on available-for- sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Share of other copmprehensive income of entities accounted forusing equity method
Total other comprehensive income
Comprehensive income(Breakdown)Comprehensive income attributable to owners of parentComprehensive income attributable to non-controlling interests

4

The Fiscal Year Ended
March 31, 2023
(Apr 1, 2022 - Mar 31,2023）

19,166

17,019

(612)
480
1,490
457

(21)
(980)
2,083
(744)

995

905

2,812
21,9791,242
18,262

21,92949

18,17784

ItohamYonekyu Holdings Inc. (2296)(3) Consolidated statements of cash flows(Million Yen)
The Fiscal Year Ended
March 31, 2022
(Apr 1, 2021 - Mar 31,2022）

Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment losses
Increase (decrease) in provision for bonuses
Amortization of goodwill
Interest and dividend income
Interest expenses
Insurance claim income
Subsidy income
Share of loss (profit) of entities accounted for using equity method
Loss (gain) on sale of investment securities
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in accounts payable - other
Increase (decrease) in retirement benefit liability
Decrease (increase) in retirement benefit asset
OtherSubtotal
Interest and dividends received
Proceeds from insurance income
Subsidies receivedInterest paid
Payments associated with disaster loss
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sale and redemption of investment securities
Loan advances
Proceeds from collection of loans receivable
Payments for acquisition of businesses
Other
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Repayments of long-term borrowingsPurchase of treasury shares
Dividends paid
Repayments of lease liabilities
OtherNet cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

5

The Fiscal Year Ended
March 31, 2023
(Apr 1, 2022 - Mar 31,2023）

28,213
11,474
115
219
1,428
(482)
318
(460)
(1,880)(605)(53)(1,682)(12,345)
5,420
469
(82)
(1,817)(1,521)
26,7271,136
464
1,749
(318)
(60)
(11,226)
18,47324,964
12,187
327
(453)
1,519
(480)
799
(214)
(1,842)(439)(32)(5,418)(22,163)
4,218
(515)
(43)
(1,685)(354)
10,372
1,331
214
1,956
(799)
(9,128)3,947(9,039)(2,189)
(169)
106
(236)
419
(143)
(11,251)(12,444)(2,775)
(64)
98
(233)
388
(7,125)(770)(22,926)(2,795)(155)(649)(6,144)(872)(36)(10,653)471(2,961)50,65147,6906,099(144)(5,000)(6,710)(981)(107)(6,844)
492(25,330)
47,69022,359