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 December 31, 2023
(Based on Japanese GAAP)
February 9, 2024
Company name:CE Holdings Co.,Ltd.
Stock exchange listing: Tokyo, Sapporo
Stock code:
Representative:
Inquiries:

4320
URL https://www.ce-hd.co.jp
Representative Director and President &CEO(Chief Exective Officer)
Director & CFO(Chief Financial Officer)

Naokazu Saito
Tsunehito Taguchi

Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:

February 9, 2024–

Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results meeting:

Yes
No

TEL

011(861)1600(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended December 31, 2023 (from October 1, 2023 to December 31, 2023)(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 December 31, 2023
3,170
3.1
187(4.3)
192(1.6)
45 (54.1)
Three months ended December 31, 2022
3,076
9.0
195
72.4
195
69.2
98
–
Earnings per share

Diluted earnings per share
Yen
3.01
6.53

Three months ended December 31, 2023
Three months ended December 31, 2022

Yen––(2) Consolidated financial position
Total assets
As of December 31, 2023
As of September 30, 2023

Net assets

Millions of yen
10,277
11,244Equity ratio

Millions of yen
6,370
6,583%
57.7
54.1

2. Cash dividends
Annual dividends per share

Year ended September 30, 2023
Year ending September 30, 2024
Year ending September 30, 2024
(Forecast)

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
0.00

Yen–

Yen
14.00

Total
Yen
14.00

0.00

–

15.00

15.00

3. Forecast of consolidated financial results for the year ending September 30, 2024 (from October 1, 2023 to September 30, 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
Six months ending
7,990
8.8
660 (21.4)
660 (21.2)
320 (35.3)
21.41
March 31, 2024
Full year
15,500
13.7
1,350
7.6
1,350
7.4
750
9.1
50.17

1

4. Notes(1) Changes in significant subsidiaries during the three months ended December 31, 2023
(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 December 31, 2023

15,367,600 shares As of September 30, 2023

15,347,600 shares

Number of treasury shares at the end of the period
As of December 31, 2023

398,163 shares As of September 30, 2023

398,114 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended December 31, 2023

14,951,871 shares Three months ended December 31, 2022

215,033,389 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Thousands of yen)
As of September 30, 2023

As of December 31, 2023

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract assets
Merchandise and finished goods
Work in process
Raw materials and supplies
Accounts receivable - other
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets

3,138,112
3,379,750

1,986,543
3,410,955

3,575
230,817

2,632
357,551

1,437
2,782

1,530
4,757

312,179(12,900)

386,682(10,329)

7,055,754

6,140,324

1,891,370

1,873,006

305,119294,226

892,394

984,444

1,197,514

1,278,670

439,809659,912442,009543,946

Investments and other assets
Investment securities
Other
Allowance for doubtful accounts

(360)

(360)

Total investments and other assets

1,099,361

985,596

Total non-current assets

4,188,246

4,137,273

11,244,000

10,277,598

1,356,065
200,000

900,208
490,000

Current portion of long-term borrowings
Accounts payable - other557,149
300,975

482,152
213,180

Income taxes payable
Provision for bonuses

262,036
316,615

18,912
127,058

Contract liabilities
Other

289,309338,470332,098
409,343

Total current liabilities

3,620,622

2,972,954

Non-current liabilities
Long-term borrowings

Total assets
Liabilities
Current liabilities
Accounts payable - trade
Short-term borrowings

660,712549,956

Retirement benefit liability
Other206,355
173,209

215,877
168,278

Total non-current liabilities

1,040,277

934,1114,660,899

3,907,066

Total liabilities3

(Thousands of yen)
As of September 30, 2023

As of December 31, 2023

Net assets
Shareholders' equity
Share capital

1,218,077

1,224,092

Capital surplus
Retained earnings

1,243,929
3,798,845

1,249,944
3,634,632

Treasury shares(200,373)(200,404)

Total shareholders' equity

6,060,479

5,908,265

Valuation difference on available-for-sale securities

19,114

23,838

Total accumulated other comprehensive income

19,114

23,838

Accumulated other comprehensive income

Share acquisition rights–3,720Non-controlling interests

503,507434,707

Total net assets
Total liabilities and net assets

46,583,101

6,370,531

11,244,000

10,277,598

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)(Thousands of yen)Three months ended
December 31, 2022

Three months ended
December 31, 2023

Net sales

3,076,370

3,170,453

Cost of sales

2,292,998

2,397,662

Gross profit

783,371772,790

Selling, general and administrative expenses

587,660

585,572

Operating profit

195,710

187,217

Non-operating income
Interest income

44

Dividend income
Subsidy income

945
1,197

810
4,423

Other2,457

2,404

Total non-operating income

4,604

7,641

Interest expenses
Foreign exchange losses

1,759
1,897

1,432
429

Other

1,054

466

Non-operating expenses

Total non-operating expenses

4,710

2,328

195,604

192,530

120

120

120

120

1,582

–

1,582

–

Profit before income taxes

194,141

192,650

Income taxes - current
Income taxes - deferred

29,894
71,82020,870125,429

Total income taxes

101,715

146,300

Profit92,426

46,34998,134(5,707)45,079
1,270

508

4,723

Ordinary profit
Extraordinary income
Gain on redemption of investment securities
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Total extraordinary losses

Profit attributable toProfit attributable to owners of parent
Profit (loss) attributable to non-controlling interests
Other comprehensive income
Valuation difference on available-for-sale securities

508

4,723

Comprehensive income

Total other comprehensive income

92,93451,073Comprehensive income attributable toComprehensive income attributable to owners of parent

98,64249,802Comprehensive income attributable to non-controlling interests(5,707)

1,270

5