Note: This document has been translated from the Japanese original for reference purposes only. In the event ofany discrepancy between this translated document and the Japanese original, the original shall prevail.

Financial Results for the Six Months Ended March 31, 2024
[Japanese GAAP]May 15, 2024
Company name: Amifa Co., Ltd.
Stock exchange listing: Tokyo Stock Exchange
Code number: 7800
URL: https://www.amifa.co.jp/
Representative: Yuzo Fujii, President and CEO
Contact: Yasuo Kawakami, Executive Officer
Phone: +81-3-6432-9500
Scheduled date of filing securities report: May 15, 2024
Availability of supplementary briefing material on financial results: Yes
Schedule of financial results briefing session: No(Less than one million yen is rounded down.)
1. Financial Results for Six Months Ended March 31,2024 (October 1, 2023 to March31, 2024)(1) Operating Results (% indicates changes from the previous corresponding period.)
Net sales

Operating income

Ordinary income

Million Yen

Million Yen

Net income

For the six
months ended

Million Yen%

March 31,2024

4,932

5.7

82 (69.0)

70 (76.9)

48 (74.5)

March 31,2023

4,668 41.4265 (22.1)

306 (7.2)

191 (7.1)

Net income pershare

Diluted net incomeper share

YenYenFor the six
months ended%

March 31,2024

16.24－March 31,2023

59.22－%

Million Yen%

(2) Financial Position
Total assets
As of March31,2024
As of September
30,2023

Net assets
Million Yen%

4,069

2,370

58.3

4,409

2,392

54.3

Million Yen

2. Dividend

Fiscal year ended
September 30,2024
Fiscal year ending
September 30,2024(Forecast)ｎCash dividend per share
1Q

Fiscal year ended
September 30,2023

Equity Ratio

2Q

3Q4QTotal annualYenYenYenYen

Yen－0.00－24.00

24.00－0.00－

24.00

24.00

0.00

(Note) There is no revision from the most recently announced dividend forecast.

1

３．Financial Results Forecast for the Fiscal Year Ending September 30,2024(October 1,2023 to September 30,2024)(% indicates changes from the previous year)

Net sales
Fullyear

Operating income

Ordinary income
Million Yen

Million Yen%

Million Yen%

9,275

14.1

240

32.2%

Net income pershare

Net income
Million Yen

235 15.9%

Yen

154 4.5

51.09(Note) There is no revision from the most recently announced financial results forecast.
(Note) We do not make the six months forecast, because our performance management
system is based on full year.
* Notes:(1) Accounting policies adopted specially for the preparation of quarterly financial
statements: Yes
Regarding tax expenses, we calculate them by reasonable estimating the effective
tax rate after applying tax effect accounting to the pre-tax current net profit for thefiscal year including this second quarter and multiplying the estimated effective tax
rate by the profit before income taxes.
(2) Changes in accounting policies, changes in accounting estimates and retrospectiverestatement:
1) Changes in accounting policies due to the revision of accounting standards: No
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(3) Number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares)
As of March 31,2024

3,235,000 shares

As of September 30,2023

3,235,000 shares

As of March 31,2024

216,415 shares

As of September 30,2023

240,049 shares

2) Number of treasury shares at the end of the period

3) Average number of shares outstanding during the period
As of March 31,2024

3,009,803 shares

As of March 31,2023

3,234,951 shares* Information regarding review procedures
The financial information contained in this report is not subject to the review
procedures by independent auditors.
* Explanation for the appropriate use of performance forecasts and other special notes
The performance forecasts and other statements on future events presented in thismaterial are based on information that was available at the time of preparation of thismaterial and based on certain assumptions considered to be reasonable. The actual
performance may differ materially from these forecasts due to several factors.

2

Qualitative information on quarterly financial results(1) Explanation of operating results
During the second quarter cumulative period (from October 1, 2023, to March 31,2024), the Japanese economy showed signs of optimism, such as the effects ofsignificant wage increases centered around major corporations during the spring
wage negotiations and the boom in the stock market. However, the situationremained uncertain with the termination of the Bank of Japan's negative interest
rate policy, rapid depreciation of the yen, and the rise in various prices.
In this environment, we have actively engaged in proposing new plans andproducts, focusing on the sale of lifestyle goods to our main customers, the 100-yen
shops, in addition to events such as Christmas. As a result, we achieved sales thatexceeded the same period of last year.
On the other hand, regarding profits, while we focused on sales prioritizing theprofitability of individual products, the significant impact of a rapid andsubstantial depreciation of the yen was considerable. Additionally, increased
logistics led to higher shipping and warehousing costs, and labor-related expenses
also increased due to expanded sales, resulting in a decrease in profits compared tothe same period last year.
As a result, the summary of the operating results for the cumulative period of thesecond quarter is as follows.
Net sales
For the six
months ended
March 31,2024

Thousand Yen

OperatingincomeThousand Yen

Ordinary
incomeNet income

Thousand Yen

Thousand Yen

4,932,881

82,49270,824

48,8684,668,181

265,751

306,919

191,578

Difference

264,700(183,259)(236,094)(142,710)

Ratio (%)

5.7

(69.0)(76.9)(74.5)For the six
months ended
March 31,2023

Net sales increased 264,700 thousand yen (up 5.7%) year on year to 4,932,881
thousand yen.
This was due to sales of Halloween and Christmas event-related products
progressing slightly higher than in the same period of the previous fiscal year, andcontinued to be strong in sales of kitchenware, lifestyle goods, and other products
from the the same period of last year.

3

As shown in the table below, sales of lifestyle variety goods by product group in thesecond quarter cumulative period were 4,690,774 thousand yen (up 6.7%) for "oneprice products" and 242,106 thousand yen (down 11.3%).
One Price Product

Petit Price Products

4,690,774

242,106

4,932,881

4,395,153

273,027

4,668,181

Difference

295,620(30,920)

264,700

Ratio (%)

6.7

(11.3)

5.7

For the six
months ended
March 31,2024
For the six
months ended
March 31,2023

Thousand Yen

Thousand Yen

Total

Thousand YenOperating profit decreased by 183,259 thousand yen (down 69.0%) to 82,492
thousand yen compared to the same period last year. There were positive effects on
profits due to the increase in sales, and the success of cost-focused sales initiatives
but the significant impact of the rapid depreciation of the yen, along with increased
logistics costs due to higher volumes and rising labor costs, were factors that
contributed to the decrease in profit.
Ordinary income amounted to 70,824 thousand yen, a decrease of 236,094 thousandyen (down 76.9%) compared to the same period of the previous year. This wasprimarily due to a decrease in operating income of 183,259 thousand yen, inaddition to changes in non-operating income. In the previous second quarter
cumulative period, there was a foreign exchange gain of 40,713 thousand yen,whereas in the current second quarter cumulative period, there was a foreignexchange loss of 8,610 thousand yen, resulting in a difference in foreign exchange
gains and losses of 49,323 thousand yen.
As a result, the net income for the quarter was 48,868 thousand yen, a decrease of142,710 thousand yen (down 74.5%) compared to the same period last year.
Since our business is a single segment of the lifestyle goods business, we do notdisclose segments information.
(2) Explanation of financial position(Assets)
Current assets at the end of the second quarter were 3,892,114 thousand yen, adecrease of 347,735 thousand yen from the end of the previous fiscal year. This wasdue to an increase of 153,176 thousand yen in cash and deposits, an increase of
88,913 thousand yen in notes receivable and accounts receivable, and a decrease ininventories of 505,767 thousand yen. Fixed assets were 177,091 thousand yen, an
increase of 7,812 thousand yen from the end of the previous fiscal year. This wasdue to an increase of 6,864 thousand yen in investment and other assets.
As a result, total assets were 4,069,205 thousand yen, a decrease of 339,923
thousand yen from the end of the previous fiscal year.

4

(Liabilities)
Current liabilities at the end of the second quarter were 1,223,517 thousand yen, adecrease of 505,009 thousand yen from the end of the previous fiscal year. This wasdue to an increase of 99,600 thousand yen in long-term borrowings and an increaseof 102,612 thousand yen in accounts payable-other, while a decrease in short-termborrowings of 700,000 thousand yen.
Fixed liabilities were 474,977 thousand yen, an increase of 187,080 thousand yen
from the end of the previous fiscal year. This was due to an increase of 183,800
thousand yen in long-term borrowings.
As a result, total liabilities were 1,698,495 thousand yen, a decrease of 317,929
thousand yen from the end of the previous fiscal year.
(Net assets)Total net assets at the end of the second quarter were 2,370,710 thousand yen, adecrease of 21,994 thousand yen from the end of the previous fiscal year. This wasprimarily due to a net income of 48,868 thousand yen for the quarter, however thepayment of dividends totaling 71,878 thousand yen led to a decrease in retained
earnings of 23,010 thousand yen, a decrease in deferred hedge losses of 14,582
thousand yen, and a decrease in treasury shares of 15,480 thousand yen in treasury
shares resulting from the third-party allocation of treasury shares.
As a result, the equity ratio increased by 4.0 percentage points from the end of theprevious fiscal year to 58.3%.
(3) Explanation of cash flow
The ending balance of cash and cash equivalents for the second quarter cumulative
period was 1,029,383 thousand yen, an increase of 153,176 thousand yen comparedto the end of the previous fiscal year.
Cash flow from operating activities resulted in an income of 665,602 thousand yen.
In the same period last year, the income was 53,337 thousand yen. This wasprimarily due to profit before income taxes of 70,824 thousand yen, an increase inaccounts receivable of 95,309 thousand yen, a decrease in inventories of 505,767
thousand yen, and an increase in accounts payable of 128,489 thousand yen.
Cash flow from investing activities resulted in an expenditure of 40,762 thousand
yen. In the same period last year, the expenditure was 10,417 thousand yen. Thiswas due to the acquisition of intangible fixed assets of 36,733 thousand yen.
Cash flow from financing activities resulted in an expenditure of 472,795 thousand
yen. In the same period last year, the expenditure was 95,081 thousand yen. Thiswas due to the repayment of short-term borrowings, which accounted for
repayment of 700,000 thousand yen, proceeds from long-term borrowings of 300,000
thousand yen, repayment of long-term borrowings of 16,600 thousand yen, proceedsfrom the sale of treasury shares of 15,598 thousand yen, and dividend payments of71,793 thousand yen.
(4) Explanation of forward-looking information such as earnings forecasts
There is no change at this time in the earnings forecast announced on November 14,2023.

5

Quarterly Non-consolidated Balance Sheets(Thousands of yen)
As of September 30, 2023

As of March 31, 2024

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Electronically recorded monetary claims operating
Inventories

876,207719,924

1,029,383
808,838

3,060

9,456

2,428,371

1,922,604

212,285

121,8314,239,850

3,892,114

Property, plant and equipment
Intangible assets

44,20068,41841,09372,473

Investments and other assets

56,65963,524

Other
Total current assets
Non-current assets

Total non-current assets
Total assets

169,278177,091

4,409,129

4,069,205

Liabilities
Current liabilities
Accounts payable - trade63,59065,5771,300,000-

600,000
99,600Accounts payable - other
Income taxes payable

285,315
35,590387,927
21,955

Provision for bonuses
Other

18,04425,98619,18429,272

Total current liabilities

1,728,526

1,223,517

Non-current liabilities
Long-term borrowings-

183,800

33,562
254,335

36,842
254,335

Short-term borrowings
Current portion of long-term borrowings

Provision for retirement benefits
Long-term obligations to directors
Total non-current liabilities
Total liabilities

287,897474,977

2,016,424

1,698,495

Net assets
Shareholders' equity
Share capital

37,22037,220Capital surplus
Retained earnings

273,468
2,191,510

273,586
2,168,500

Treasury shares(157,231)(141,751)

Total shareholders' equity

2,344,967

2,337,556

47,73733,154

Valuation and translation adjustments
Deferred gains or losses on hedges
Total valuation and translation adjustments
Total net assets
Total liabilities and net assets

6

47,73733,154

2,392,704

2,370,710

4,409,129

4,069,205Quarterly Non-consolidated Statements of Income (For the six months)(Thousands of yen)
For the six months
ended March 31, 2023

For the six months
ended March 31, 2024

Net sales

4,668,181

4,932,881

Cost of sales

3,104,125

3,345,410

Gross profit

1,564,055

1,587,470

Selling, general and administrative expenses

1,298,303

1,504,978265,751

82,492

Operating income
Non-operating income
Interest income

22

Foreign exchange gains
Subsidy income

40,713-871

Gain on sale of non-current assets
Compensation income

1,038249-412

411
248

42,4161,532

780

3,530

Foreign exchange losses
Loss on retirement of non-current assets

428

8,610
-

Other39

1,059

1,249

13,200Ordinary income

306,919

70,824

Profit before income taxes

306,919

70,824

Income taxes

115,340

21,955

Net income

191,578

48,868Interest on tax refund
Other
Total non-operating income
Non-operating expenses
Interest expenses

Total non-operating expenses

7

Quarterly Non-consolidated Statements of Cash Flows(Thousands of yen)
For the six months
ended March 31, 2023

For the six months
ended March 31, 2024

Cash flows from operating activities
Profit before income taxes
Depreciation

306,919
12,60270,824
15,711

Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for retirement
benefits
Interest and dividend income(130)(19,829)

1,140

4,710

3,280

(2)

(2)

780
-

3,530
(1,131)

Subsidy income
Loss (gain) on sale of non-current assets(1,038)(871)-Decrease (increase) in trade receivables
Decrease (increase) in inventories(280,819)(114,688)(95,309)505,767

Increase (decrease) in trade payables
Increase(decrease)in accounts payable - other

83,75336,255

1,987
128,489

Other, net

25,60170,434

Subtotal

54,113703,851

Interest expenses
Foreign exchange losses (gains)

Interest and dividends received

22(780)-(3,530)871

1(35,591)

53,337

665,602

Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment(11,751)
3,454(4,028)-Purchase of intangible assets(2,120)(36,733)

Net cash provided by (used in) investing activities(10,417)(40,762)-(700,000)
300,000

Repayments of long-term borrowings
Dividends paid

(17,500)(77,581)(16,600)(71,793)

Proceeds from sale of treasury shares-15,598

Net 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(95,081)(472,795)

-

1,131

(52,161)

153,176

Cash and cash equivalents at beginning of period

898,135

876,207

Cash and cash equivalents at end of period

845,9741029383

Interest paid
Subsidies received
Payment(refund) of income taxes
Net cash provided by (used in) operating activities
Cash flows from investing activities

Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings

8