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 Three Months Ended March 31, 2024
(Based on Japanese GAAP)
April 30, 2024
Company name:I S B CORPORATION
Stock exchange listing: Tokyo
Stock code:
Representative:

9702
President

URL

https://www.isb.co.jp/Inquiries:

Director,Executive General Manager,
Administrative Headquarters

Kazufumi WakaoMasaya Hirose

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

May 15, 2024–

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

Yes
No

TEL

03-3490-1761(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended March 31, 2024 (from January 1, 2024 to March 31, 2024)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%Three months ended March 31, 2024
8,531
2.0
1,105
7.3
1,132
8.6
760
31.1
Three months ended March 31, 2023
8,366
18.6
1,030
48.0
1,042
49.5
579
30.3
Earnings per share

Diluted earnings per share

Yen
66.59
50.93

Three months ended March 31, 2024
Three months ended March 31, 2023

Yen––(2) Consolidated financial position
Total assets

Net assets

Millions of yen
18,10017,988

As of March 31, 2024
As of December 31, 2023

Equity ratio

Millions of yen
12,22011,821

%
67.5
65.7

2. Cash dividends
Annual dividends per share
1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen–

Yen–

Yen
42.00

Yen
42.00

––

46.00

46.00

Year ended December 31, 2023
Year ending December 31, 2024
Year ending December 31, 2024 (Forecast)Total

3. Forecast of consolidated financial results for the year ending December 31, 2024 (from January 1, 2024 to December 31, 2024)
Net sales
Millions of yen
Six months endingJune 30, 2024
Full year

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

16,5003.6

1,220(7.3)

1,250(6.7)

800

4.8

70.70

33,7004.1

2,470(9.7)

2,550(9.3)

1,620

10.0

141.881

4. Notes(1) Changes in significant subsidiaries during the three months ended March 31, 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:

No
No

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 March 31, 2024

11,417,900 shares As of December 31, 2023

11,417,900 shares

Number of treasury shares at the end of the period
As of March 31, 2024

149 shares As of December 31, 2023

149 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended March 31, 2024

11,417,751 shares Three months ended March 31, 2023

211,388,604 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Thousands of yen)
As of December 31, 2023

As of March 31, 2024

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract assets

8,875,913
5,814,030

8,383,835
5,945,260

Prepaid expenses
Merchandise

165,695
692,511216,257
642,700

Supplies
Other

1,512
119,880

1,512
123,514

Allowance for doubtful accounts(6,482)(4,640)15,663,060

15,308,439

614,435

657,879

Accumulated depreciation and impairment(357,627)(380,731)

Buildings and structures, net

256,807277,147Land

450,361

450,361

Other
Accumulated depreciation and impairment

883,791(673,089)

912,413(687,566)

210,701224,846

917,870

952,355

Other

36,62632,978

Total intangible assets

36,62632,978Investment securities
Long-term prepaid expenses

483,7745,519

600,507
4,504

Guarantee deposits
Deferred tax assets

449,994
369,433

804,658
334,479

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

Other, net
Total property, plant and equipment
Intangible assets

Investments and other assets

Other
Total investments and other assets
Total non-current assets
Total assets

362,596

62,676

1,371,318

1,806,828

2,325,815

2,792,162

17,988,876

18,100,601

(Thousands of yen)
As of December 31, 2023

As of March 31, 2024

Liabilities
Current liabilities
Notes and accounts payable - trade

2,116,541

2,022,315

Contract liabilities
Short-term borrowings

189,947
120,000

111,807
120,000

Accounts payable - otherAccrued expenses

1,456,499
91,937962,259
174,759

Income taxes payable
Accrued consumption taxes

574,075
446,747

425,147
513,786

Provision for bonuses
Provision for bonuses for directors (and other officers)

33,35650,018598,446
58,993

Provision for loss on orders received
Provision for retirement benefits for directors

88,255145,000

17,952–

Asset retirement obligations
Other

29,200334,147

29,200327,533

Total current liabilities

5,675,726

5,362,201

Non-current liabilities
Retirement benefit liability

253,788

260,603

Provision for retirement benefits for directors (and otherofficers)

59,11863,602

Asset retirement obligations
Other

163,768
14,895

179,159
14,680Total non-current liabilities

491,570

518,046

6,167,296

5,880,247

Shareholders' equity
Share capital

2,378,921

2,378,921

Capital surplus
Retained earnings

2,983,099
6,235,068

2,983,099
6,515,823

(146)

(146)

11,596,942

11,877,698

Valuation difference on available-for-sale securities
Foreign currency translation adjustment

162,756
61,880244,787
97,868

Total accumulated other comprehensive income

224,637

342,655

11,821,579

12,220,354

17,988,876

18,100,601

Total liabilities
Net assets

Treasury shares
Total shareholders' equity
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)(Thousands of yen)Three months ended

Three months ended

March 31, 2023

March 31, 2024

Net sales
Cost of sales

8,366,601
6,160,847

8,531,447
6,238,292

Gross profit

2,205,753

2,293,154

Selling, general and administrative expenses

1,175,677

1,187,822

Operating profit

1,030,076

1,105,332

Interest income
Compensation income

3,895
–

3,476
22,405

Reversal of allowance for doubtful accounts
Other

8,250
3,095

–
10,791

Total non-operating income

15,24036,673Non-operating income

Non-operating expenses
Interest expenses

182

185

–
668

6,636
421

Foreign exchange losses
Other

1,417
165

2,047
148

Total non-operating expenses

2,434

9,439

1,042,883

1,132,566

Fraud related losses

107,858–

Total extraordinary losses

107,858–

Profit before income taxes

935,024

1,132,566

Income taxes - current

450,220

372,470

Settlement payments
Loss on sale of notes receivable - trade

Ordinary profit
Extraordinary losses

Income taxes - deferred(95,191)(205)

Total income taxes

355,029372,265

Profit

579,995

760,301

Profit attributable to owners of parent

579,995

760,3015

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

ProfitOther comprehensive income

Three months ended

Three months ended

March 31, 2023

March 31, 2024

579,995

760,301

Valuation difference on available-for-sale securities
Foreign currency translation adjustment

7,507
2,830

82,031
35,987

Total other comprehensive income

10,338118,018

590,333

878,319590,333

878,319

Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent6