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 Nine Months Ended April 30, 2024
(Based on Japanese GAAP)
June 10, 2024
Company name:
Pharma Foods International Co., Ltd.
Stock exchange listing: Tokyo
Stock code:
Representative:

2929
President

URL

https://www.pharmafoods.co.jp
Mujo Kim

Inquiries:

General Manager od Corporate Planning
DepartmentToshihiro Kawanaka

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

June 14, 2024–

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

Yes
No

TEL

075-394-8600(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the nine months ended April 30, 2024 (from August 1, 2023 to April 30, 2024)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Profit attributable toNet salesOperating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Nine months ended April 30, 2024
47,171 (10.2)
3,266
99.9
3,223 103.7
1,856
73.7
Nine months ended April 30, 2023
52,533
19.3
1,634
75.4
1,582
47.0
1,068
–Earnings per share

Diluted earnings per share

Yen
65.00
37.00

Nine months ended April 30, 2024
Nine months ended April 30, 2023

Yen––(2) Consolidated financial position
Total assets

Net assets

Millions of yen
36,931
36,232As of April 30, 2024
As of July 31, 2023

Equity ratio

Millions of yen
10,0159,630%
27.1
26.6

2. Cash dividends
Annual dividends per share

Year ended July 31, 2023
Year ending July 31, 2024

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen
––Yen
10.00
10.00

Yen
––

Yen
12.00

Yen
22.00

10.00

20.00

Year ending July 31, 2024 (Forecast)Total

3. Forecast of consolidated financial results for the year ending July 31, 2024 (from August 1, 2023 to July 31, 2024)
Net sales
Full year

Millions of yen64,100

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
Earnings per shareowners of parent% Millions of yen% Millions of yen% Millions of yen%
Yen
(6.5)
2,700 (25.2)
2,900 (18.1)
1,800 (41.6)
64.12

1

4. Notes(1) Changes in significant subsidiaries during the nine months ended April 30, 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:

NoNo

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 April 30, 2024

29,079,000 shares As of July 31, 2023

29,079,000 shares

Number of treasury shares at the end of the period
As of April 30, 2024

1,006,767 shares As of July 31, 2023

233,994 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Nine months ended April 30, 2024

28,564,866 shares Nine months ended April 30, 2023

228,887,115 shares

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

As of April 30, 2024

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade

16,306
4,058

16,4603,913Electronically recorded monetary claims - operating
Merchandise and finished goods

526
4,594

303
4,762

Work in process
Raw materials and supplies

676
783

675
840

Other
Allowance for doubtful accounts

588
(2)

814
(1)

27,53027,769Buildings and structures, net
Machinery, equipment and vehicles, net

2,449
541

2,397
694

Tools, furniture and fixtures, net
Land

154
1,190

310
1,190

21
47

13
44

4,404

4,650

197

142

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

Leased assets, net
Construction in progress
Total property, plant and equipment
Intangible assets
Goodwill
Other

4155

Total intangible assets

238

197

Investment securities
Deferred tax assets

2,514
395

2,804
349

Other
Allowance for doubtful accounts

1,149(0)1,159–

Total investments and other assets

4,058

4,313

8,701

9,162

36,23236,931

Investments and other assets

Total non-current assets
Total assets3

(Millions of yen)
As of July 31, 2023

As of April 30, 2024

Liabilities
Current liabilities
Notes and accounts payable - trade

937

1,205

Short-term borrowings
Current portion of long-term borrowings17,400
955

16,900872

Accounts payable - other
Income taxes payable

3,728
264

4,140
1,011

Provision for bonuses
Other

72
1,016

165
774

Total current liabilities

24,37425,069Non-current liabilities
Long-term borrowings

1,741

1,371

Retirement benefit liability
Other

320
165

312
162

Total non-current liabilities

2,227

1,846

26,601

26,915

Shareholders' equity
Share capital

2,043

2,043

Capital surplus
Retained earnings

1,814
5,792

1,814
7,008

Treasury shares(343)(1,194)

Total shareholders' equity

9,306

9,670

Valuation difference on available-for-sale securities

324345

Total accumulated other comprehensive income

324

345

9,630

10,01536,23236,931

Total liabilities
Net assets

Accumulated other comprehensive income

Total net assets
Total liabilities and net assets

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

Nine months endedApril 30, 2023

April 30, 2024

Net sales
Cost of sales

52,533
10,22747,171
9,869

Gross profit

42,30637,301

599

705

Advertising expenses
Commission expenses

31,144
3,043

24,397
3,171

Amortization of goodwill
Other

54
5,829

815,679

Total selling, general and administrative expenses

40,672

34,035

1,634

3,266

Interest income
Dividend income

113

114

Foreign exchange gains
Subsidy income

–44

833

Outsourcing service income
Other

1228

1227

Total non-operating income

10098

Selling, general and administrative expenses
Research and development expenses

Operating profit
Non-operating income

Non-operating expenses
Interest expenses

3744

Foreign exchange lossesLoss on investments in investment partnerships

310–
2

Share of loss of entities accounted for using equity method
Commission expenses

6129

28
26

Expenses related to product collection, etc.
Other

52–
38

Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of investment securities

152

140

1,582

3,223–

10

Gain on receipt of donated non-current assets

8–

Total extraordinary income

8106–

Extraordinary losses
Loss on sale of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes
ProfitLoss attributable to non-controlling interests
Profit attributable to owners of parent

56–

1,584

3,234

516

1,377

1,067

1,856(0)

–

1,068

1,856

Consolidated statements of comprehensive income (cumulative)(Millions of yen)

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Total other comprehensive income

Nine months ended

Nine months endedApril 30, 2023

April 30, 2024
1,067

1,856

207

20207

20

Comprehensive income

1,275

1,877

Comprehensive income attributable toComprehensive income attributable to owners of parent

1,276

1,877

(0)

–

Comprehensive income attributable to non-controllinginterests

6