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May 9, 2024

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2024
(Under Japanese GAAP)
Company name:
Daitobo Co.,Ltd.
Listing:
Tokyo Stock Exchange / Nagoya Stock Exchange
Securities code:
3202
URL:
http://www.daitobo.co.jp/Representative:
Kazuhiro Yamauchi, Director, President and Chief Executive OfficerInquiries:
Shogo Mieda, Director ＆ Senior Executive Officer Head of Corporate Management Headquarters C.F.O
Telephone:+81-3-6262-6565
Scheduled date of annual general meeting of shareholders:June 24, 2024
Scheduled date to commence dividend payments:
June 25, 2024
Scheduled date to file annual securities report:
June 24, 2024
Preparation of supplementary material on financial results:
None
Holding of financial results briefing:
None(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the fiscal year ended March 31, 2024 (from April 1, 2023 to March 31, 2024 )(Percentages indicate year-on-year changes.)(1) Consolidated operating results
Net sales
Fiscal year ended
March 31, 2024
March 31, 2023

Operating profit

Profit attributable to owners ofparent

Ordinary profit

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

4,033

0.9

318

48.7

139

520.3

153

121.9

3,997

(11.2)

214(13.4)22(73.8)

69

61.4

Note: Comprehensive income For the fiscal year ended March 31, 2024: ¥ 171 million
For the fiscal year ended March 31, 2023: ¥ 138 million
Basic earnings per share
Fiscal year ended
March 31, 2024
March 31, 2023

[ 23.4 % ][ 430.6 % ]Diluted earnings per share

Ratio of ordinary profit tototal assets

Return on equity

Ratio of operating profit
to net sales

Yen

Yen%%%

5.07

5.06

3.2

0.7

7.9

2.29

2.29

1.5

0.1

5.4

Reference: Share of profit (loss) of entities accounted for using equity method
For the fiscal year ended March 31, 2024: ¥ (1) million
For the fiscal year ended March 31, 2023: ¥ (1) million(2) Consolidated financial position
Total assets
As ofMarch 31, 2024
March 31, 2023

Net assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen%

Yen

20,349

4,935

24.2

162.82

20,433

4,790

23.4

158.25

Reference: Equity
As of March 31, 2024: ¥ 4,925 million
As of March 31, 2023: ¥ 4,780 million(3) Consolidated cash flows
Cash flows from operating
activities
Fiscal year ended
March 31, 2024
March 31, 2023

Cash flows from investing
activities

Cash flows from financing
activities

Cash and cash equivalents at endof period

Millions of yen

Millions of yen

Millions of yen

Millions of yen

748

(45)

(616)

1,087

367

(187)

(422)

1,000

2. Cash dividends
Annual dividends per share
SecondThird
Fiscalquarter-end
quarter-end
year-endFirst
quarter-end
Fiscal year ended
March 31, 2023
Fiscal year ended
March 31, 2024
Fiscal year ending
March 31, 2025
(Forecast)

Total cash dividends(Total)Total

Ratio of dividends
to net assets(Consolidated)

Payout ratio(Consolidated)

YenYenYenYenYenMillions of yen%%-0.00-

1.00

1.00

30

43.6

0.6

-

0.00

-

2.00

2.00

60

39.4

1.2

3.00

3.00

0.00

82.4

3. Forecast of consolidated financial results for the fiscal year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)

3. Forecast of consolidated financial results for the fiscal year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)(Percentages indicate year-on-year changes.)
Net sales

Operating profit

Profit attributable toowners of parent

Ordinary profit

Basic earnings per share

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

2,100

11.5

180

26.1

70

21.0

40(17.6)

1.32

4,300

6.6

390

22.3

180

28.8110(28.3)

3.64

Six months ending
September 30, 2024
Fiscal year ending
March 31, 2025

The forecasts are based on currently available information and actual results may differ from the forecasts due to various factors in the future.

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): Yes
Excluded:
1 company ( Shanghai Daitoh Textile Trading Co. )(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 March 31, 2024
As of March 31, 2023

30,360,000 shares
30,311,000 shares(ii) Number of treasury shares at the end of the period
As of March 31, 2024
As of March 31, 2023

105,663 shares
105,588 shares(iii) Average number of shares outstanding during the period
Fiscal year ended March 31, 2024
Fiscal year ended March 31, 2023

30,224,198 shares
30,122,960 shares[Reference] Overview of non-consolidated financial results
1. Non-Consolidated financial results for the fiscal year ended March 31, 2024 (from April 1, 2023 to March 31, 2024 )(Percentages indicate year-on-year changes.)(1) Non-Consolidated operating results
Net sales
Fiscal year ended
March 31, 2024
March 31, 2023

Operating profit

Ordinary profit

ProfitMillions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

3,432

8.1

334

43.1

153

229.1

190

108.9

3,174

(5.4)

233(8.6)

46(55.0)91

48.0

Basic earnings per share
Fiscal year ended
March 31, 2024
March 31, 2023

Diluted earnings per share
YenYen

6.29

6.27

3.02

3.01

(2) Non-Consolidated financial position
Total assets
As ofMarch 31, 2024
March 31, 2023

Net assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen%

Yen

20,052

5,054

25.2

166.5520,080

4,858

24.1

160.32

Reference: Equity
As of March 31, 2024: ¥ 5,044 million
As of March 31, 2023: ¥ 4,848 million* Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
* Proper use of earnings forecasts, and other special matters

Consolidated balance sheet(Thousands of yen)
As of March 31, 2023

As of March 31, 2024

AssetsCurrent assets
Cash and deposits

1,011,144

1,097,756

Notes receivable - trade180,771

136,891Accounts receivable - trade380,432

488,234

Inventories

724,191

766,701

Other

62,14437,493

Allowance for doubtful accounts(1,270)(1,380)2,357,414

2,525,696

Buildings and structures, net

7,951,635

7,727,648

Land

9,265,726

9,265,726

38,022

108,436

Total current assets
Non-current assets
Property, plant and equipment

Leased assets, net
Other, net
Total property, plant and equipment

178,82954,097

17,434,213

17,155,909

142,481

128,073

Intangible assets
Goodwill
Other

19,987

12,375

Total intangible assets

162,469

140,448

Investment securities

337,804

414,889

Distressed receivables

83,256

83,256

Deferred tax assets

100,237

65,736

Other

38,42044,088

Allowance for doubtful accounts(80,228)(80,228)

Total investments and other assets

479,490

527,743

18,076,173

17,824,100

20,433,587

20,349,797

Investments and other assets

Total non-current assets
Total assets

(Thousands of yen)
As of March 31, 2023

As of March 31, 2024

Liabilities
Current liabilities
Notes and accounts payable - trade253,240

458,986

Short-term borrowings

561,324

546,370

Income taxes payable4,297

1,011

Provision for bonuses

37,53937,943

Provision for shareholder benefit program

28,00029,000Other

645,445

659,593

Total current liabilities

1,529,846

1,732,905

9,915,306

9,372,269

Non-current liabilities
Long-term borrowings
Lease liabilities-102,437

Long-term guarantee deposits

1,370,427

1,325,950

Deferred tax liabilities for land revaluation

2,476,495

2,476,495

Retirement benefit liability

267,039

285,911

Asset retirement obligations

55,64471,886

Other

28,482

46,823

14,113,394

13,681,774

15,643,241

15,414,680

Share capital

100,000

100,000

Capital surplus

25,90130,979Retained earnings

15,030138,161

Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity

Treasury shares(9,784)(9,791)

Total shareholders' equity

131,147

259,349

Accumulated other comprehensive income
Valuation difference on available-for-sale securities(984)

50,825

Deferred gains or losses on hedges(28,544)(49,092)

Revaluation reserve for land

4,664,864

4,664,864

13,556-

4,648,890

4,666,596

10,307

9,171

Foreign currency translation adjustment
Total accumulated other comprehensive income
Share acquisition rights
Total net assets

4,790,346

4,935,117

Total liabilities and net assets

20,433,587

20,349,797

Consolidated statement of income(Thousands of yen)
Fiscal year ended
March 31, 2023

Fiscal year ended
March 31, 2024

Net sales

3,997,466

4,033,875

Cost of sales

2,834,388

2,781,941

Gross profit

1,163,078

1,251,933

Selling, general and administrative expenses

948,589

933,055

Operating profit

214,488318,878

Non-operating income
Interest income94612

Dividend income

6,930

6,942

Compensation income

1,097

-

Penalty income

2,480

3,642

-

10,035Gain on sale of non-current assets
Other

2,380

4,224

Total non-operating income

12,98425,457

192,323

198,183

Share of loss of entities accounted for using equity method

1,354

1,601

Commission for syndicated loans

4,675

4,236

Other

6,593

592

Total non-operating expenses

204,946

204,613

Ordinary profit

22,526

139,722-

19,082Non-operating expenses
Interest expenses

Extraordinary income
Gain on liquidation of subsidiaries and associates
Total extraordinary income-19,082

Profit before income taxes

22,526

158,804

Income taxes - current

963

812

Income taxes - deferred(47,561)4,618

Total income taxes(46,598)

5,431

Profit69,124

153,372

Profit attributable to owners of parent

69,124

153,372

Consolidated statement of comprehensive income(Thousands of yen)
Fiscal year ended
March 31, 2023
ProfitFiscal year ended
March 31, 2024
69,124

153,372

Other comprehensive income
Valuation difference on available-for-sale securities

14,06951,809Deferred gains or losses on hedges51,796(20,547)

Foreign currency translation adjustment

3,661(13,556)

Total other comprehensive income

69,527

17,705Comprehensive income

138,652

171,078

138,652

171,078--

Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests

Consolidated statement of changes in equity
Fiscal year ended March 31, 2023
(Thousands of yen)
Shareholders' equity

Balance at beginningof period
Profit attributable toowners of parent
Issuance of newshares - exercise ofshare acquisitionrightsDividends of surplus
Purchase of treasury
sharesCapital reduction
Net changes in items
other thanshareholders' equity
Total changes duringperiod
Balance at end ofperiod

Share capital

Capital surplus

100,000

14,342Retainedearnings(54,093)

Treasury shares

Total shareholders'equity(9,781)50,466

69,124

5,779

69,124

5,779

11,559(2)(2)(5,779)5,779--

11,55969,124(2)

80,681

100,000

25,901

15,030(9,784)

131,147

Accumulated other comprehensive income

Balance at
beginning of period
Profit attributableto owners ofparentIssuance of newshares - exerciseof shareacquisition rights
Dividends ofsurplus
Purchase oftreasury shares
Capital reduction
Net changes in
items other thanshareholders'equityTotal changes
during period
Balance at end ofperiod

Valuationdifference on
available-forsale securities

Deferred gains
or losses onhedges

Revaluation
reserve for land

(15,054)(80,341)

4,664,864

Foreign currency Total accumulatedtranslation
other comprehensive
adjustment
income9,894

4,579,363

Shareacquisitionrights17,112

Total net assets

4,646,942
69,124

11,559(2)
14,06951,796-

3,661

69,527(6,805)62,722

14,06951,796-

3,661

69,527(6,805)

143,403(984)(28,544)4,664,864

13,556

4,648,890

10,3074,790,346

Consolidated statement of changes in equity
Fiscal year ended March 31, 2024
(Thousands of yen)
Shareholders' equity

Balance at beginningof period
Profit attributable toowners of parent
Issuance of newshares - exercise ofshare acquisitionrightsDividends of surplus
Purchase of treasury
sharesCapital reduction
Net changes in items
other thanshareholders' equity
Total changes during
periodBalance at end ofperiod

Share capital

Capital surplus

100,000

25,901Retainedearnings
15,030Treasury shares

Total shareholders'equity(9,784)

131,147

153,372

2,539

153,372

2,539

5,078
(30,242)(30,242)(6)(6)(2,539)

2,539

-

-

5,078

123,130(6)

128,201

100,000

30,979138,161(9,791)

259,349

Accumulated other comprehensive income

Balance at
beginning of period
Profit attributableto owners ofparentIssuance of newshares - exerciseof shareacquisition rights
Dividends ofsurplusPurchase oftreasury shares
Capital reduction
Net changes in
items other thanshareholders'equityTotal changes
during period
Balance at end of
periodValuationdifference on
available-forsale securities

Deferred gains
or losses onhedges

Revaluation
reserve for land(984)

(28,544)4,664,864

Foreign currency Total accumulatedtranslation
other comprehensive
adjustment
income13,556

4,648,890

Shareacquisitionrights

10,307

Total net assets

4,790,346
153,372

5,078(30,242)(6)
51,809(20,547)-(13,556)

17,705(1,136)

16,56951,809(20,547)-(13,556)

17,705(1,136)

144,771

50,825(49,092)

4,664,864-

4,666,596

9,171

4,935,117

Consolidated statement of cash flows(Thousands of yen)
Fiscal year ended
March 31, 2023

Fiscal year ended
March 31, 2024

Cash flows from operating activities
Profit before income taxes

22,526

158,804

Depreciation

545,766

506,944100

110(8,535)

404

Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for shareholder benefit program
Increase (decrease) in retirement benefit liability

2,000

1,000(42,598)

18,872

Interest and dividend income(7,025)(7,555)Interest expenses

192,323

198,183

Share of loss (profit) of entities accounted for using equity method

1,354

1,601

Decrease (increase) in trade receivables

87,317(41,450)

Decrease (increase) in inventories

37,281(42,509)

Increase (decrease) in trade payables(169,429)

205,842

Increase (decrease) in guarantee deposits received(98,516)(45,423)

Decrease (increase) in other assets

7,515(14,842)

Increase (decrease) in other liabilities(15,175)

1,658

Subtotal

554,903

941,639

Interest and dividends received
Interest paid

7,025

7,555

(192,934)(195,800)

Income taxes paid

(1,051)(4,452)

Net cash provided by (used in) operating activities

367,943748,942(208,589)(64,935)

Cash flows from investing activities
Purchase of property, plant and equipment and intangible assets
Proceeds from divestments-

19,082

21,057-(187,531)(45,853)

Proceeds from long-term borrowings

2,058,196-

Repayments of long-term borrowings(2,466,188)(557,991)(21,845)(24,049)

Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities

Repayments of lease liabilities
Dividends paid
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents-(30,242)

6,881(4,193)(422,956)(616,477)

545-

Net increase (decrease) in cash and cash equivalents(241,999)

86,611

Cash and cash equivalents at beginning of period

1,242,958

1,000,958

Cash and cash equivalents at end of period

1,000,958

1,087,570