Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In theevent of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Consolidated Financial Results
For the Second Quarter of Fiscal Year Ending March 31, 2024
[Japanese GAAP]
October 31, 2023
Company name: Sanoyas Holdings Corporation
Stock exchange listing: Tokyo Stock Exchange
Code number: 7022
URL: https://www.sanoyas.co.jp/Representative: Isao Kitatsuji, President
Contact: Naoya Fukui, General Manager, Accounting Department
Phone: +81-6-4803-6171
Email: info@sanoyas.co.jp
Scheduled date of filing quarterly securities report: November 10, 2023
Scheduled date of commencing dividend payments: –Availability of supplementary briefing material on annual financial results: Available (Only in Japanese)
Schedule of quarterly financial results briefing session: Yes (for investment analysts and institutional investors)(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Second Quarter of Fiscal Year Ending March 31, 2024 (April 1, 2023
to September 30, 2023)(1) Consolidated Operating Results (Cumulative)(% indicates changes from the previous corresponding period.)
Profit (loss)
Operating profit
Ordinary profit
Net sales
attributable to(loss)(loss)
owners of parent
Six months ended
Million yen% Million yen% Million yen% Million yen%
September 30, 2023
8,326
4.6(877)–(788)–(812)–
September 30, 2022
7,956
(3.5)
(699)
–(568)–(555)–(Note) Comprehensive income: Second Quarter of fiscal year ended March 31, 2024: ¥(328) million [–%]
Second Quarter of fiscal year ended March 31, 2023: ¥(757) million [–%]
Basic earnings pershare

Six months ended
September 30, 2023
September 30, 2022

Diluted earnings pershareYen

Yen(24.23)(16.71)––(2) Consolidated Financial Position
Total assets
Net assets
Million yen
Million yen
As of7,549
September 30, 2023
27,867
8,010
March 31, 2023
25,702(Reference) Equity: As of September 30, 2023: ¥7,478 million
As of March 31, 2023: ¥7,935 million

Equity ratio%

26.8
30.9

2. Dividends
Annual dividends
1st2nd3rdYear-endquarter-end quarter-end quarter-end
Yen

Yen

Yen

Fiscal year ended–
0.00–
March 31, 2023
Fiscal year ending–
0.00
March 31, 2024
Fiscal year ending
March 31, 2024–(Forecast)(Note) Revision to recently disclosed projected cash dividends: NoTotal

Yen

Yen

5.00

5.00

5.00

5.00

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024 (April 1, 2023 to March31, 2024)(% indicates changes from the previous corresponding period.)
Operating profit

Net sales

Full year

Ordinary profit (loss)(loss)

Million yen%

Million yen%

Million yen

23,000

14.2

500

422.9

500

Profit (loss)
attributable toowners of parent%

Yen(29.5)

9.00% Million yen

26.5

300

Basic earnings
per share(Note) Revision to recently disclosed projected consolidated financial results: No* Notes:(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting inchanges in scope of consolidation): No(2) Adoption of special accounting methods for preparing quarterly consolidated financial statements: No(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
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(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
September 30, 2023: 33,752,682 shares
March 31, 2023: 33,473,786 shares2) Total number of treasury shares at the end of the period:
September 30, 2023: 47,235 shares
March 31, 2023: 47,215 shares
3) Average number of shares during the period:
Six months ended September 30, 2023: 33,546,089 shares
Six months ended September 30, 2022: 33,243,019 shares* These consolidated financial results are outside the scope of audit* Explanation of the proper use of financial results forecast and other notes
The earnings forecasts and other forward-looking statements herein are based on information currently available
and certain assumptions deemed reasonable. Actual results may differ significantly from these forecasts due to awide range of factors.

2. Quarterly Consolidated Financial Statements [Japanese GAAP](1) Quarterly Consolidated Balance Sheets [Japanese GAAP](Million yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Contract assets
Electronically recorded monetary claims - operating
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery and equipment, netLand
Other, net
Total property, plant and equipment
Intangible assets
Software
Goodwill
Other
Total intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Net defined benefit asset
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

1

As of September 30, 2023

1,389
5,119
300
1,003
243
1,565
1,179
1,018
(13)
11,807

4,050
2,774
715
791
254
2,906
1,333
516
(10)
13,332

3,275
1,601
2,831
582
8,292

3,216
1,755
2,831
454
8,258

353
679
17
1,050

386
634
171,037

3,853
222
278
206
(8)
4,552
13,89525,702

4,560
197
282
206
(8)
5,238
14,534
27,867

(Million yen)
As of March 31, 2023
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term loans payable
Current portion of long-term loans payable
Income taxes payable
Contract liabilities
Provision for bonuses
Provision for construction warranties
Provision for loss on construction contracts
Lease obligations
OtherTotal current liabilities
Non-current liabilities
Long-term loans payableLease obligations
Deferred tax liabilities
Net defined benefit liability
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Share acquisition right
Total net assets
Total liabilities and net assets

2

As of September 30, 2023

2,575
983
2,250
1,797
91
1,030
370
69
3
222
1,002
10,395

1,694
2,044
5,450
1,669
34
1,406
384
92
39
227
662
13,707

3,660
575
1,084
1,661
311
2
7,296
17,691

2,842
470
1,264
1,717
311
4
6,610
20,317

2,603
22
3,506
(9)
6,122

2,623
41
2,526
(9)
5,182

1,619
1
60
130
1,812
75
8,010
25,702

2,103
8
78
106
2,296
70
7,549
27,867

(2) Quarterly Consolidated Statements of Income and Consolidated Statements of Comprehensive Income[Japanese GAAP]
Quarterly Consolidated Statements of Income [Japanese GAAP](Million yen)
Six Months ended

Six Months ended

September 30, 2022

September 30, 2023

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating loss
Non-operating income
Interest income
Dividend income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Other
Total non-operating expenses
Ordinary loss
Extraordinary income
Gain on sales of noncurrent assets
Gain on sales of investment securities
Total gain on sales of noncurrent assets
Loss before income taxes
Income taxes – current
Income taxes – deferred
Total income taxes
Loss
Loss attributable to owners of parent

7,956
6,189
1,767
2,466(699)

8,326
6,765
1,560
2,438(877)

2
185
18
205

2
126
18
146

59
1575(568)50
757(788)6－
6(561)
41(48)
(6)
(555)
(555)

102(786)35(9)25(812)(812)

Quarterly Consolidated Statements of Comprehensive Income [Japanese GAAP](Million yen)

Loss
Other comprehensive income (loss)
Valuation difference on available-for-sale securitiesDeferred gain (loss) on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income (loss)
Comprehensive income
Comprehensive income (loss) attributable toOwners of the parent
Non-controlling interests

3Six Months ended

Six Months ended

September 30, 2022

September 30, 2023
(555)

(812)

(282)
29
48
2(202)(757)

483
617(23)
484
(328)

(757)
－(328)－(3) Quarterly Consolidated Statements of Cash Flows [Japanese GAAP](Million yen)Six months ended
September 30, 2022Cash flows from operating activities
Loss before income taxes
Depreciation
Amortization of goodwill
Increase (decrease) in net defined benefit liability
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for construction
warranties
Increase (decrease) in provision for loss on construction
contracts
Interest and dividend income
Interest expenses
Loss (gain) on sales of noncurrent assets
Loss (gain) on sales of investment securities
Decrease (increase) in notes and accounts receivable trade
Decrease (increase) in inventories
Decrease (increase) in advance payments
Increase (decrease) in notes and accounts payable - trade
Increase (decrease) in contract liabilities
Decrease (increase) in consumption taxes refund
receivable
Other, net
SubtotalInterest and dividend income received
Interest expenses paid
Income taxes (paid) refund
Net cash provided by (used in) operating activities

4

Six months ended
September 30, 2023

(561)
316
53(5)
(2)
28(786)
354
44
56(3)
13

2

23－

36(187)59(6)－(128)
50(1)
(0)

1,779

2,151(1,102)
87(269)156(1,494)
(9)
230
364

(57)

(81)

(287)
4
187
(60)
(314)
(182)

(88)
730
128
(50)
368
1,176

(Million yen)Six months ended
September 30, 2022
Cash flows from investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits
Purchase of property, plant and equipment
Proceeds from sales of property plant and equipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sales of investment securities
Proceeds from cancellation of insurance fund
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term loans payable
Proceeds from long-term loans payable
Repayments of long-term loans payable
Cash dividends paid
Repayments of lease obligations
Other net
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
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

5Six months ended
September 30, 2023

(267)
163(448)
97(57)(10)－(295)
(10)
(828)

(60)
60(417)
3(82)
(11)
0－
(7)
(514)

2,240
900(1,515)
(165)
(195)
0
1,263
33
285
3,376
3,661

3,200
700
(1,645)
(167)
(99)
0
1,987
12
2,661
1,329
3,990

(Segment Information)
Ⅰ Six months Ended September 30, 2022 (April 1, 2022 to September 30, 2022)
Information concerning Net sales and Operating profit or loss by Reportable business segment(Million yen)

Adjustments( Note 1)

Amountrecorded inquarterly
consolidated
statements ofincome( Note 2)

Reportable segmentMachinery /Equipment &Services for
Manufacturing
Industry

Machinery /Equipment &Services for Leisure business
Construction
Industry

Total

Net sales
Goods transferred at apoint in time
Goods transferred overtime
Revenue from contracts
with customers

3,605

1,345

1,396

6,346

－

6,346

111

1,060

438

1,610

－

1,610

3,716

2,405

1,834

7,956

－

7,956

3,716

2,405

1,834

7,956

－

7,956

Internal sales or transfers

－

1－

1(1)

－

Total

3,716

2,407

1,834

7,958

(1)

7,956

73(465)443

51(751)(699)

External sales

Segment profit (loss)(Note 1) Details of “Adjustments” are as follows:
Adjustments for the segment loss of ¥(751) million include corporate cost of ¥(760) million not allocated to each reportablesegment, allowance for doubtful accounts of ¥0 million and elimination of inter-segment transaction of ¥8 million.
Corporate cost consists of general and administrative expenses which do not belong to the reporting segment.
(Note 2) Segment loss is adjusted with operating loss recorded in the quarterly consolidated statements of income.

6Ⅱ Six months Ended September 30, 2023 (April 1, 2023 to September 30, 2023)
Information concerning Net sales and Operating profit or loss by Reportable business segment(Million yen)

Adjustments( Note 1)

Amountrecorded inquarterly
consolidated
statements ofincome( Note 2)

Reportable segment
Machinery /Equipment &Services for
Manufacturing
Industry

Machinery /Equipment &Services for Leisure business
Construction
Industry

Total

Net sales
Goods transferred at apoint in time
Goods transferred overtime
Revenue from contracts
with customers

3,080

2,148

1,228

6,457－

6,457

220

1,491

155

1,868－

1,868

3,301

3,6391,384

8,326－

8,326

3,301

3,639

1,384

8,326－

8,326

Internal sales or transfers－－－－－－

Total

3,301

3,639

1,384

8,326－

8,326

(90)

(291)

249

(132)

(745)

(877)

External sales

Segment profit (loss)(Note 1) Details of “Adjustments” are as follows:
Adjustments for the segment loss of ¥(745) million include corporate cost of ¥(754) million not allocated to each reportablesegment, allowance for doubtful accounts of ¥0 million and elimination of inter-segment transaction of ¥8 million.
Corporate cost consists of general and administrative expenses which do not belong to the reporting segment.
(Note 2) Segment loss is adjusted with operating loss recorded in the quarterly consolidated statements of income.

7