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 March 31, 2024
(Based on Japanese GAAP)May 14, 2024
Company name:teno. Holdings Company Limited
Stock exchange listing: Tokyo, Fukuoka
Stock code:
Representative:

7037
URL
President & CEO

https://www.teno.co.jp/Hiroko Ikeuchi

Inquiries:
Director, GM of Administrative Headquarter Motoshi Okada
Scheduled date to file Quarterly Securities Report:
May 14, 2024
Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:–Yes

Holding of quarterly financial results meeting:

NoTEL

092 (263) 3550

(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended March 31, 2024 (from January 1, 2024 to March 31, 2024)(1) Consolidated operating results (cumulative)

Three months ended March 31, 2024
Three months ended March 31, 2023

Percentages indicate year-on-year changes
Profit attributable
Net sales
EBITDA
Operating profit
Ordinary profit
to owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen% Millions of yen%
3,809
12.4
176
9.4
65
9.7
65 (14.4)
12 (30.3)
3,389
14.7
161
(6.0)
59 (37.3)
76 (31.3)
18 (69.2)
Earnings per share

Diluted earnings per share
Yen
2.78
4.00

Three months ended March 31, 2024
Three months ended March 31, 2023

Yen–
3.98(2) Consolidated financial position
Total assets
As of March 31, 2024
As of December 31, 2023

Net assets

Millions of yen
11,0799,527

Equity ratio

Millions of yen
2,213
2,242%
20.0
23.5

2. Cash dividends
Annual dividends per share

Year ended December 31, 2023
Year ending December 31, 2024

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
0.00

Yen–

Yen
9.00

Yen
9.00

0.00

–

9.00

9.00

Year ending December 31, 2024 (Forecast)Total

3. Forecast of consolidated financial results for the year ending December 31, 2024 (from January 1, 2024 to December 31, 2024)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Yen
Full year
15,8809.1
155 (17.2)
138 (28.9)
32 (67.7)
7.87

1

4. Notes(1) Changes in significant subsidiaries during the three months ended March 31, 2024
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No(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:
Changes in accounting policies due to other reasons:

No
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 March 31, 2024

4,701,300 shares As of December 31, 2023

4,701,300 shares

132,724 shares As of December 31, 2023

132,724 shares

Number of treasury shares at the end of the period
As of March 31, 2024

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended March 31, 2024

4,568,576 shares Three months ended March 31, 2023

24,556,176 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of December 31, 2023

As of March 31, 2024

AssetsCurrent assets
Cash and deposits
Accounts receivable - trade and contract assets
Inventories
Other
Allowance for doubtful accounts
Total current assets

1,925
1,194

2,668
1,26066911

671,255(3)

(11)

4,094

5,239

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

2,840

2,827

Accumulated depreciation(1,290)(1,316)

Buildings and structures, net

1,550

1,511

38

38(35)(35)

3

2

Leased assets
Accumulated depreciation
Leased assets, net
Construction in progress

73

127

508
(430)

519
(443)

78

75

1,705

1,718

Goodwill
Other

1,670
244

2,057
254

Total intangible assets

1,915

2,311

Investments and other assets
Investment securities

1010

Long-term loans receivable
Long-term prepaid expenses

697
321

686
318

Deferred tax assets
Leasehold and guarantee deposits

181
601

183
611

Other
Allowance for doubtful accounts

2(2)

2(2)

Total investments and other assets

1,811

1,809

Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets

Total non-current assets
Total assets

3

5,432

5,839

9,527

11,079(Millions of yen)
As of December 31, 2023

As of March 31, 2024

Liabilities
Current liabilities
Accounts payable - trade

56

44

1,339
569

2,614
710

Accounts payable - other
Income taxes payable

909
73

856
43

Provision for bonuses
Contract liabilities

65
561

164
406

Short-term borrowings
Current portion of long-term borrowings

Other

561

671

4,136

5,512

2,855
4

3,062
–

Provision for retirement benefits for directors (and otherofficers)

37

39

Asset retirement obligations
Other222
27

222
28

Total non-current liabilities

3,148

3,352

7,285

8,865

Shareholders' equity
Share capital

455455

Capital surplus
Retained earnings

532
1,339

532
1,311

Treasury shares

(84)

(84)

2,242

2,213

Total current liabilities
Non-current liabilities
Long-term borrowings
Deferred tax liabilities

Total liabilities
Net assets

Total shareholders' equity
Total net assets
Total liabilities and net assets

4

2,242

2,213

9,527

11,079

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)Three months ended

Three months ended

March 31, 2023

March 31, 2024

Net sales
Cost of sales

3,389
2,888

3,809
3,229

Gross profit

500579Selling, general and administrative expenses

440514

Operating profit

5965

Interest income
Subsidy income

11914

Other

20

Total non-operating income

226Interest expenses
Other

50

50

Total non-operating expenses

5676

65

Subsidy income

227

Total extraordinary income

227

Loss on tax purpose reduction entry of non-current assets

227

Total extraordinary losses

227

Profit before income taxes

7666

Income taxes - current

9641Income taxes - deferred(38)11Total income taxes

5853

Profit1812

Profit attributable to owners of parent

1812

Non-operating income

Non-operating expenses

Ordinary profit
Extraordinary income

Extraordinary losses

5Consolidated statements of comprehensive income (cumulative)(Millions of yen)Three months ended

Three months ended

March 31, 2023

March 31, 2024

Profit1812

Comprehensive income

18121812Comprehensive income attributable toComprehensive income attributable to owners of parent

6