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

July 12, 2024

Non-consolidated Financial Results
for the Six Months Ended May 31, 2024
(Under Japanese GAAP)
Company name: T&S Group Inc.
Listing:
Tokyo Stock Exchange
Securities code:
4055
URL:
https://www.tecsvc.co.jp
Representative:
Yoshihiro Takekawa, President and CEO
Inquiries:
Hiroshi Kinoshita, Director, Executive Officer and COO
Telephone:+81-45-263-8286
Scheduled date to file quarterly securities report:
July 12, 2024
Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results: Yes
Holding of quarterly financial results briefing:
Yes (for Institutional Investors and Analysts)(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Non-consolidated financial results for the six months ended May 31, 2024
(from December 1, 2023 to May 31, 2024)(1) Non-consolidated operating results (cumulative)
Net sales
Six months ended(Percentages indicate year-on-year changes.)

Operating profit

Ordinary profit

ProfitMillions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

May 31, 2024

1,770

3.7

314

(0.8)

314(2.2)

218(2.9)

May 31, 2023

1,708

8.9

316

10.5

321

9.3

225

9.5

Basic earnings
per share
Six months ended

Diluted earnings
per share
Yen

Yen

May 31, 2024

28.85

28.69

May 31, 2023

29.78

29.55

(2) Non-consolidated financial position
Total assets
As ofNet assets

Equity-to-asset ratio

Millions of yen

Millions of yen

May 31, 2024

2,824

2,333

82.6November 30, 2023

2,616

2,163

82.7

Reference:

EquityAs of May 31, 2024:
As of November 30, 2023:¥2,333 million¥2,163 million%

2. Cash dividends
Annual dividends per shareFirst quarter-end

Second quarter-end

Third quarter-end

Yen

Yen

Yen

Fiscal year ended
November 30, 2023
Fiscal year ending
September 30, 2024

-0.00

-

0.00

Fiscal year ending
September 30, 2024
(Forecast)Fiscal year-end

Total

Yen

Yen-

6.55

6.55

-

7.00

7.00

Note: Revisions to the forecast of cash dividends most recently announced: None3. Earnings Forecast of Fiscal year ending on September 30, 2024
(from December 1, 2023 to September 30, 2024)
OperatingprofitNet sales
Full-year
Note:

Millions of yen%

Millions of yen

3,142-588(Percentages indicate year-on-year changes)
Basic earnings
Profitper shareOrdinary
profit% Millions of yen% Millions of yen%

Yen---

52.86

589

401

Revisions to the earnings forecast most recently announced: None
Following the approval of the "Partial Amendment to the Articles of Incorporation" at the 8th Ordinary General Meeting ofShareholders held on February 28, 2024, the fiscal year end has changed. The current fiscal year, which is a transitionalperiod, is an irregular settlement for 10 months from December 1, 2023 to September 30, 2024. For this reason, thepercentage change from the previous fiscal year for the full year is not described.

* Notes(1) Adoption of accounting treatment specific to the preparation of quarterly non-consolidated financial
statements: None
(2) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: None(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
(3) Number of issued shares (common shares)(i)

Total number of issued shares at the end of the period (including treasury shares)
As of May 31, 2024

7,633,200 shares

As of November 30, 2023

7,633,200 shares(ii) Number of treasury shares at the end of the period
As of May 31, 2024

54,440 shares

As of November 30, 2023

54,800 shares(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscalyear)
Six months ended May 31, 2024

7,578,514 shares

Six months ended May 31, 2023

7,560,836 shares* Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants
or an audit corporation.

Quarterly financial statements
Quarterly balance sheet(Thousands of yen)
As of November 30, 2023
AssetsCurrent assets
Cash and deposits
Accounts receivable - trade and contract assets
Work in process
Accounts receivable - other
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Accounts payable - trade
Income taxes payable
Provision for bonuses
Other
Total current liabilities
Non-current liabilities
Provision for retirement benefits
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Total net assets
Total liabilities and net assets

As of May 31, 2024

1,721,266
434,644
12,942
268,606
16,485(1,800)2,452,145

1,839,190
433,584
20,074
233,662
19,108(1,700)2,543,920

19,481
1,609
143,225
164,315
2,616,461

18,807
1,811
260,295
280,9142,824,835

170,884
79,732
7,023
138,179
395,820

185,140
104,525
49,241
90,884
429,792

57,392
57,392453,21261,963
61,963491,755

340,783
266,6621,629,556(73,753)
2,163,249
2,163,249
2,616,461

40,000567,843
1,798,543(73,307)2,333,079
2,333,079
2,824,835Quarterly income statements
Cumulative of six months ended(Thousands of yen)Six months ended
May 31, 2023
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Grant income
Subsidy income
Miscellaneous income
Total non-operating income
Non-operating expenses
Share issuance costs
Commission expenses
OtherTotal non-operating expenses
Ordinary profit
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitSix months ended
May 31, 2024

1,708,065
1,182,041
526,023
209,348
316,674

1,770,648
1,246,247
524,401
210,255
314,145

2
225
4,969
0
5,196

21
－
－
665
686

30
347
0
377
321,494
321,494
83,336
12,97696,313
225,181

－
376
0
376
314,456
314,456
104,528(8,698)95,830218,625