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.

May 15, 2024

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2024
(Under Japanese GAAP)
Company name: Commerce One Holdings Inc.
Listing:
Tokyo Stock Exchange
Securities code:
4496
URL:
https://www.cm-one.jp/en/
Representative:
Takaaki Okamoto, CEO
Inquiries:
Kiwamu Shimizu, Director, Administration Headquarters General Manager
Telephone:+81-3-6261-6677
Scheduled date of annual general meeting of shareholders:June 25, 2024
Scheduled date to commence dividend payments:
June 26, 2024
Scheduled date to file annual securities report:
June 26, 2024
Preparation of supplementary material on financial results:
Yes
Holding of financial results briefing:
Yes (for analysts and institutional investors)(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)(1) Consolidated operating results(Percentages indicate year-on-year changes.)

Net sales

Operating profit

Fiscal year ended

Millions of yen%

Millions of yen

March 31, 2024

3,557

11.3

March 31, 2023

3,196

8.7

Note: Comprehensive income%

Millions of yen

644

11.0

580

(14.2)For the fiscal year ended March 31, 2024:
For the fiscal year ended March 31, 2023:

Basic earnings
per share

Diluted earnings
per share

Profit attributable toowners of parent

Ordinary profit%

Millions of yen

702

15.5

414

(6.0)

608

(15.2)

441(11.0)¥532 million¥468 million

Return on equity%[13.6%][(1.3)%]

Ratio of ordinary
profit to total assets

Ratio of operating
profit to net sales

Fiscal year ended

Yen

March 31, 2024

57.53

-

15.2

19.0

18.1

March 31, 2023

58.78

-

18.0

18.4

18.2

Reference:

Yen

%

%

%

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

Net assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen

March 31, 2024

3,882

2,844

73.3

395.50March 31, 2023

3,505

2,616

74.6

356.26

Reference:

EquityAs of March 31, 2024:
As of March 31, 2023:¥2,844 million¥2,616 million%

Yen(3) Consolidated cash flows
Cash flows fromoperating activities

Cash flows frominvesting activities

Cash and cash
equivalents
at end of period

Cash flows fromfinancing activities

Fiscal year ended

Millions of yen

Millions of yen

Millions of yen

Millions of yen

March 31, 2024

778

(367)

(307)

1,733

March 31, 2023

163

(56)

(142)

1,608

2. Cash dividends
Annual dividends per share
First
SecondThird
quarter-end quarter-end quarter-end
Fiscal year ended

March 31, 2023
Fiscal year ended

March 31, 2024

Fiscalyear-end

Total

Yen

Yen

Yen

Yen

-

0.00

-

0.00

0.00

-

27.00

-

11.00

38.00

-

10.00

-

10.00

20.00

Ratio of
Payout ratio dividends to(Consolidated) net assets(Consolidated)

Total cash
dividends(Total)Yen Millions of yen

%

%

-

-

-

273

66.1

10.1

Fiscal year ending

March 31, 2025

31.6

(Forecast)

Note: Dividends at the end of the second quarter of fiscal year ended March 31, 2024
Ordinary dividend: ¥7.00, Commemorative dividend: ¥20.00

3. Consolidated financial results forecast for the fiscal year ending March 31, 2025 (from April 1, 2024 toMarch 31, 2025)(Percentages indicate year-on-year changes.)
Net sales
Millions of yen

Full year

3,815

Operating profit% Millions of yen

7.3

Profit attributable toowners of parent

Ordinary profit

Basic earnings
per share%

Millions of yen%

Millions of yen%

Yen

604 (6.1)

683

(2.7)

454

9.6

63.22

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in change inscope of consolidation): 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 March 31, 2024

7,193,400 shares

As of March 31, 2023

7,523,400 shares(ii) Number of treasury shares at the end of the period
As of March 31, 2024

49 shares

As of March 31, 2023

179,249 shares(iii) Average number of shares outstanding during the period
Fiscal year ended March 31, 2024

7,211,152 sharesFiscal year ended March 31, 2023

7,509,197 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 toMarch 31, 2024)(1) Non-consolidated operating results(Percentages indicate year-on-year changes.)

Net sales

Operating profit

Fiscal year ended

Millions of yen%

March 31, 2024

310

March 31, 2023

358

Ordinary profit

Millions of yen%(13.4)

39(39.1)

108

Basic earnings
per share

ProfitMillions of yen%

Millions of yen%(63.8)

20(71.4)

134(85.1)

55(75.9)(67.6)

228(50.0)

Diluted earnings
per share

Fiscal year ended

Yen

March 31, 2024

7.64

-

March 31, 2023

30.47

-

Yen

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

Net assets

Millions of yen

Millions of yen

Equity-to-asset ratio

Net assets per share%

Yen

March 31, 2024

1,746

1,558

89.3

216.71March 31, 2023

1,823

1,690

92.7

230.13

Reference:

EquityAs of March 31, 2024:
As of March 31, 2023:¥1,558 million¥1,690 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
Results forecasts and other forward-looking statements presented in this document are based on information
currently available to the Company and certain assumptions that are deemed reasonable. The Company does
not intend to guarantee that the said forecasts will be achieved. Actual results may vary significantly due tovarious factors. For more information on the preconditions on which the forecasts are based and the notes on its
use, please see “1. Overview of Operating Results, etc. (4) Future Outlook” on page 4 of the attachments.

Commerce One Holdings Inc. (4496) Consolidated Financial Results for the Fiscal Year Ended March 31, 2024

Table of Contents - Attachments
1. Overview of Operating Results, etc. ............................................................................................................... 2(1) Overview of Operating Results for the Fiscal Year under Review ............................................................. 2(2) Overview of Financial Position for the Fiscal Year under Review ............................................................ 3(3) Overview of Cash Flows for the Fiscal Year under Review ....................................................................... 4(4) Future Outlook ........................................................................................................................................... 4
2. Basic Approach to Selection of Accounting Standards .................................................................................. 6
3. Consolidated Financial Statements and Principal Notes ................................................................................ 7(1) Consolidated Balance Sheets ...................................................................................................................... 7(2) Consolidated Statements of Income and Comprehensive Income ............................................................. 9(3) Consolidated Statements of Changes in Equity ........................................................................................ 11(4) Consolidated Statements of Cash Flows .................................................................................................. 13(5) Notes to Consolidated Financial Statements ............................................................................................ 14(Notes on going concern assumption) ................................................................................................. 14(Segment information, etc.) ................................................................................................................. 14(Per share information) ........................................................................................................................ 14(Significant subsequent events) ........................................................................................................... 141

Commerce One Holdings Inc. (4496) Consolidated Financial Results for the Fiscal Year Ended March 31, 2024

1. Overview of Operating Results, etc.
(1) Overview of Operating Results for the Fiscal Year under Review
The Group provides a variety of solutions that E-Commerce operators need in order to launch and operate business.
The Group’s goal is the development and growth of a sound E-Commerce market in which everyone, including
consumers and E-Commerce operators, can engage in transactions that are safe and secure. To achieve this, theGroup engages in business activities as a corporate group that offers E-Commerce platforms that provide business
infrastructure for E-Commerce operators.
The domestic E-Commerce market, the Group’s primary business area, has been continually growing, backed by
the diversification of products sold, a rising number of market participants, dramatic reductions in delivery times
by logistics operators, increases in the amount of information shared via social media, and other factors. In thedomestic E-Commerce market, which grew rapidly due to the impact of the COVID-19 pandemic, as economic
activity has normalized from FY2022 onward, the rate of growth has slowed down, but the market is continuing togrow steadily. For consumers, new lifestyles and workstyles appear to have taken firm hold, prompting the needfor business developments that align with current trends. To support businesses facing challenges in this rapidlychanging market, the Group aims to expand its business domains while working toward becoming “an ECommerce platform that maximizes the power of people using our technology.” This will be achieved byexpanding the range of optional and alliance services that increase store sales, entering the E-Commerce consulting
business, and providing solutions that enhance the value of customer experiences, such as web-based customer
services.
Under this business environment, during the fiscal year ended March 31, 2024, the Group strove to ensure net
sales in line with market growth and actively engaged in growth investment in order to adapt to the future market
environment.
Future Shop Co., Ltd.
Future Shop Co., Ltd., provider of “futureshop,” has expanded the optional and alliance services available on“futureshop,” including the launch of an optional service allowing consumers to make payments by au PAY (online
payment) on E-Commerce sites built on “futureshop,” resulting in increased sales and profit year-on-year. In
November 2023, Future Shop opened “FUTURE 20th SQUARE” on the social VR platform “VRChat” as an eventto celebrate the 20th anniversary of the “futureshop” service launch. This initiative explores new ways ofcommunicating with consumers of the future within a virtual space where technology and creativity converge.
Softel Inc.
Softel Inc., provider of our Tsuhan-Suruzo software, has initiated API integration between Tsuhan-Suruzo and thecloud POS Smaregi, enhancing integration necessary for OMO strategies with physical stores, including productinformation, inventory information, membership information, point information, etc. While net sales remained
strong due to these efforts, growth investments in the development of optional functions to improve back-office
operational efficiency using generated AI for Tsuhan-Suruzo and increased costs to upgrade the skills of engineers
resulted in increased sales and decreased profits year-on-year.
Other
For SAMURAI TECHNOLOGY Co., Ltd. and SOLAIRO, INC., which became part of the Group during theprevious fiscal year, we are intensifying investments to further upgrade the skills of the obtained engineer
resources. SOLAIRO, INC. is currently developing solutions that propose new ways of providing web-based
customer service.
As a result of these efforts, the operating results of the Group and the financial results of its main consolidated
subsidiaries during the fiscal year ended March 31, 2024 are as indicated in the table below.

2Commerce One Holdings Inc. (4496) Consolidated Financial Results for the Fiscal Year Ended March 31, 2024

[Consolidated financial results](Thousands of yen)
For the fiscal year ended
March 31, 2023

For the fiscal year ended
Increase/decrease
March 31, 2024

Percentage(%)

Net sales

3,196,433

3,557,276

360,842

11.3

EBITDA

699,016

794,441

95,425

13.7

Operating profit

580,350

644,001

63,651

11.0

Ordinary profit

608,006

702,414

94,407

15.5

Profit attributable to owners of parent

441,358

414,864(26,494)(6.0)*EBITDA = Operating profit + Depreciation + Amortization of goodwill[Financial results of major consolidated subsidiaries](Thousands of yen)

For the fiscal year ended For the fiscal year ended
Percentage
Increase/decrease
March 31, 2023
March 31, 2024(%)
Net sales

2,435,375

2,574,630

139,254

5.7

Operating profit

699,878

819,102

119,224

17.0

Net sales

720,903

748,630

27,727

3.8

Operating profit

92,09557,992(34,103)(37.0)

Future Shop Co., Ltd.

Softel Inc.

(2) Overview of Financial Position for the Fiscal Year under Review(Assets)
Current assets at the end of the fiscal year ended March 31, 2024 decreased by ¥892 thousand from the end of theprevious fiscal year to ¥2,305,885 thousand. This was primarily due to a decrease of ¥111,226 thousand in deposits
paid due to the purchase of treasury shares. Non-current assets increased by ¥377,587 thousand from the end of theprevious fiscal year to ¥1,576,802 thousand. This was primarily due to an increase of ¥439,374 thousand ininvestment securities due to the additional purchase of investment securities and a rise in market price. As a result,
total assets increased by ¥376,694 thousand from the end of the previous fiscal year to ¥3,882,688 thousand.
(Liabilities)
Current liabilities at the end of the fiscal year ended March 31, 2024 increased by ¥107,326 thousand from the endof the previous fiscal year to ¥915,574 thousand. This was primarily due to an increase of ¥70,996 thousand inincome taxes payable. Non-current liabilities increased by ¥40,792 thousand from the end of the previous fiscal
year to ¥122,138 thousand. This was primarily due to an increase of ¥43,760 thousand in deferred tax liabilities
resulting from a rise in the market price of investment securities. As a result, total liabilities increased by ¥148,119
thousand from the end of the previous fiscal year to ¥1,037,713 thousand.

3Commerce One Holdings Inc. (4496) Consolidated Financial Results for the Fiscal Year Ended March 31, 2024

(Net assets)
Total net assets at the end of the fiscal year ended March 31, 2024 increased by ¥228,575 thousand from the end of
the previous fiscal year to ¥2,844,974 thousand. This was primarily due to profit attributable to owners of parent of¥414,864 thousand and an increase in valuation difference on available-for-sale securities of ¥117,729 thousand,despite the purchase of treasury shares of ¥109,797 thousand and dividend paid of ¥194,220 thousand. As a result,the equity-to-asset ratio was 73.3% (compared to 74.6% at the end of the previous fiscal year).
The Company operates in a single segment, the E-Commerce platform business segment. Therefore, descriptive
information about its reportable segments is not stated in this document.

(3) Overview of Cash Flows for the Fiscal Year under Review
During the fiscal year ended March 31, 2024, cash and cash equivalents (hereinafter “net cash”) increased by¥125,154 thousand from the end of the previous fiscal year to ¥1,733,879 thousand.
The status of cash flows and their contributing factors during the fiscal year ended March 31, 2024 are as
follows.
(Cash flows from operating activities)
Net cash provided by operating activities was ¥778,607 thousand (compared to ¥163,971 thousand provided in theprevious fiscal year).
This was primarily due to ¥696,045 thousand in profit before income taxes, ¥119,924 thousand in depreciation,¥30,515 thousand in amortization of goodwill, ¥24,146 thousand in gain on sale of investment securities, and adecrease of ¥111,226 thousand in deposits paid.
(Cash flows from investing activities)
Net cash used in investing activities was ¥367,764 thousand (compared to ¥56,403 thousand used in theprevious fiscal year).
This was primarily due to ¥113,748 thousand in purchase of intangible assets due to software development by
Future Shop Co., Ltd. such as the development of new functions, ¥32,739 thousand in proceeds from sale ofinvestment securities, and ¥278,625 thousand in purchase of investment securities such as Enecycle Inc., an equity
method affiliate.
(Cash flows from financing activities)
Net cash used in financing activities was ¥307,406 thousand (compared to ¥142,767 thousand used in theprevious fiscal year).
This was primarily due to ¥193,995 thousand in dividends paid, and ¥109,797 thousand in purchase of treasury
shares.
(4) Future Outlook(Outlook for the entire Group)
The adoption rate of E-Commerce in Japan is still at a low level compared to those of Western countries and China,
and Japan’s BtoC E-Commerce market is expected to continue to grow significantly. A tendency of sales channels
to transition from physical stores to e-commerce stores and that of more retailors to adopt E-Commerce are also
expected continue.
In such an environment, the Group plans to continue growing by leveraging its strength to provide SaaS
solutions that encompass the entire process from the interface, the front end of an E-Commerce site, to the backend, including sales orders and inventory management. The Group has prepared its financial results forecast for the
fiscal year ending March 31, 2025, taking into account this environment, as it did for the fiscal year ended March
31, 2024. For the fiscal year ending March 31, 2025, we forecast net sales of ¥3,815 million (up 7.3% year-onyear), operating profit of ¥604 million (down 6.1% year-on-year), ordinary profit of ¥683 million (down 2.7%
year-on-year), and profit of ¥454 million (up 9.6% year-on-year).
(Net sales)
As a holding company, the Company oversees five consolidated business subsidiaries of the Group: Future Shop
4

Commerce One Holdings Inc. (4496) Consolidated Financial Results for the Fiscal Year Ended March 31, 2024

Co., Ltd., Softel Inc., TradeSafe Inc., SAMURAI TECHNOLOGY Co., Ltd., and SOLAIRO, INC. The businesses
operated by the consolidated subsidiaries are connected from the perspective of supporting E-Commerce website
operations, and the Group operates as a single E-Commerce platform business segment that provides services
needed by E-Commerce website operators through one-stop Group-wide service. The forecasts for net sales of the
major subsidiaries are based on the assumptions below.
(i)
Future Shop Co., Ltd.
Future Shop Co., Ltd. provides “futureshop,” a SaaS-based E-Commerce website construction and operation
support platform, mainly for SME E-Commerce website operators. Net sales consist mainly of sales from thefutureshop service (monthly usage fees and initial setup fees) and sales associated with affiliated services. Sales
from the futureshop service are calculated based on the assumption that the number of shops will increase by 0.5%
from the end of the previous fiscal year and that sales per customer will also increase, taking into consideration the
result of the previous fiscal year. Sales associated with affiliated services are calculated by taking into account theresult of the previous fiscal year and the increase in total value of transactions made through settlement agencies.
As a result, Future Shop Co., Ltd. is expected to achieve net sales of ¥2,669 million (up 3.7% year-on-year).
(ii) Softel Inc.
Softel Inc. provides systems including the Tsuhan-Suruzo software for centralized backyard management of ECommerce operators with multiple shops on a SaaS basis, partially customized to meet customer needs. Net salesconsist mainly of customization sales related to initial setup and modifications of the Tsuhan-Suruzo software andmonthly maintenance sales, which are set at a fixed monthly fee. Customization sales are forecasted based
primarily on projects to be ordered up to March 2025, taking into account the timings of project acceptanceinspections and the development resources secured at SAMURAI TECHNOLOGY Co., Ltd., a group company. As
a result, Softel Inc. is expected to achieve net sales of ¥765 million (up 2.2% year-on-year).
(Cost of sales)
Cost of sales consists mainly of human resource costs for system development, server-related expenses, anddepreciation. Human resource costs for system development are calculated based on the personnel hiring plan andthe result of the previous fiscal year. Server-related expenses are calculated by multiplying sales by a fixed rate.
Depreciation mainly consists of the depreciation of developed software, calculated from the capitalized portion ofsoftware in progress resulting from the software development plan. As a result, cost of sales is expected to be¥1,674 million (up 8.6% year-on-year), and gross profit to be ¥2,140 million (up 6.2% year-on-year).
(Selling, general and administrative expenses and operating profit）
Selling, general and administrative expenses are expected to be ¥1,536 million (up 12.0% year-on-year). Selling,
general and administrative expenses consist of personnel expenses and other expenses such as fee expenses, withpersonnel expenses calculated mainly based on the personnel hiring plans for customer support, administrative,
and sales sections amid business expansion. In addition, we plan to increase advertising expenses to raise our
profile and acquire customers. Other expenses are aggregated by account item based on the most recent results. As
a result, operating profit is expected to be ¥604 million (down 6.1% year-on-year).
(Non-operating income (expenses) and ordinary profit)
For non-operating income, dividend income of ¥5 million from shares of Wistron Information Tech & Services
Corp. held by the Company and a share of profit of entities accounted for using equity method of ¥73 million are
expected. Non-operating expenses are not expected to be incurred. As a result, ordinary profit is expected to be¥683 million (down 2.7% year-on-year).

5Commerce One Holdings Inc. (4496) Consolidated Financial Results for the Fiscal Year Ended March 31, 2024

(Extraordinary income (losses))
For extraordinary income, a gain on sale of investment securities of ¥10 million (down 58.6% year-on-year) is
expected. No extraordinary losses are expected to be incurred.
(Profit attributable to owners of parent)Tax expenses are estimated at ¥238 million based on the effective tax rate. As a result, profit attributable to ownersof parent is expected to be ¥454 million (up 9.6% year-on-year).
[Notes on financial results forecast]
Results forecasts and other forward-looking statements presented in this document are based on information
currently available to the Group and certain assumptions that are deemed reasonable. Actual results may vary due
to various factors.

2. Basic Approach to Selection of Accounting Standards
The Company currently operates in Japan, so it is the Company’s policy to prepare its financial statements inaccordance with Japanese GAAP for the time being. Taking into account future business development anddomestic and overseas trends, the Company will consider adopting the International Financial Reporting Standards(IFRS).

6

Commerce One Holdings Inc. (4496) Consolidated Financial Results for the Fiscal Year Ended March 31, 2024

3. Consolidated Financial Statements and Principal Notes(1) Consolidated Balance Sheets(Thousands of yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Trade receivables and contract asset
Work in process
Prepaid expenses
Deposits paid
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings, net
Tools, furniture and fixtures, net
Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Software
Software in progress
Other
Total intangible assets
Investments and other assets
Investment securities
Distressed receivables
Leasehold and guarantee deposits
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

7

As of March 31, 2024

1,608,724
290,977
5,872
91,027112,220
201,958(4,002)2,306,778

1,733,879
293,050
7,562
88,808994
184,825(3,234)2,305,885

68,756
13,193
9,032
90,981

62,516
10,224
5,747
78,48961,031
257,924
59,1705,144
383,270

283,155
45,28077
328,514563,479
3,058
98,09047,35816,017(3,041)
724,962
1,199,215
3,505,993

1,002,854
2,562
102,601
47,463
16,863(2,546)
1,169,798
1,576,802
3,882,688

Commerce One Holdings Inc. (4496) Consolidated Financial Results for the Fiscal Year Ended March 31, 2024

(Thousands of yen)
As of March 31, 2023
Liabilities
Current liabilities
Accounts payable - trade
Short-term borrowings
Advances received
Income taxes payable
Provision for bonuses
Other
Total current liabilities
Non-current liabilities
Deferred tax liabilities
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

8

As of March 31, 2024

37,44647,000408,635
104,885581
209,699
808,247

33,67647,000422,847
175,881
5,107
231,062
915,574

21,66747,445
12,232
81,345889,593

65,42847,6299,081
122,138
1,037,713

210,400
160,400
2,123,373(139,224)
2,354,948

210,400
160,400
2,095,031(36)
2,465,794

261,450
261,450
2,616,399
3,505,993

379,180
379,180
2,844,974
3,882,688

Commerce One Holdings Inc. (4496) Consolidated Financial Results for the Fiscal Year Ended March 31, 2024

(2) Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income(Thousands of yen)
For the fiscal year ended
March 31, 2023
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Foreign exchange gains
Sponsorship money income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Loss on limited liability partnership
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of investment securities
Total extraordinary income
Extraordinary losses
Impairment losses
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to owners of parent

9

For the fiscal year ended
March 31, 2024

3,196,433
1,392,326
1,804,107
1,223,756
580,350

3,557,276
1,542,088
2,015,187
1,371,185
644,00122
25,715628
1,452
27,81826
23,06823,0877,500
5,883
59,566162
162
608,006

188
836
128
1,153
702,41471,526
71,52624,14624,146

679,533
235,583
2,591
238,175
441,358
441,358

30,51530,515
696,045
289,495(8,314)
281,181414,864
414,864

Commerce One Holdings Inc. (4496) Consolidated Financial Results for the Fiscal Year Ended March 31, 2024

Consolidated Statements of Comprehensive Income(Thousands of yen)
For the fiscal year ended
March 31, 2023
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent

10

For the fiscal year ended
March 31, 2024

441,358

414,864

27,586
27,586468,944

117,729
117,729532,593468,944532,593

Commerce One Holdings Inc. (4496) Consolidated Financial Results for the Fiscal Year Ended March 31, 2024

(3) Consolidated Statements of Changes in Equity
Fiscal year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)(Thousands of yen)
Shareholders’ equity

Balance at beginning of period
Changes during period
Dividends of surplus
Profit attributable to owners ofparentPurchase of treasury shares
Cancellation of treasury shares
Transfer from retained earnings tocapital surplus
Net changes in items other thanshareholders’ equity
Total changes during period
Balance at end of period

Balance at beginning of period
Changes during period
Dividends of surplus
Profit attributable to owners ofparentPurchase of treasury shares
Cancellation of treasury shares
Transfer from retained earnings tocapital surplus
Net changes in items other thanshareholders’ equity
Total changes during period
Balance at end of period

Share capital

Capital surplus

210,400

160,400

Retainedearnings

Treasury shares

1,682,015

(70)

Total
shareholders’equity2,052,744-

441,358

441,358(139,154)(139,154)-

210,400

160,400

441,358
2,123,373

Accumulated other comprehensive income
Valuation difference on
Total accumulated otheravailable-for-salecomprehensive income
securities
233,864
233,864(139,154)(139,224)

Total net assets

2,286,609
441,358(139,154)-

27,586

27,586

27,586

27,586
261,450

27,586
261,450

329,7902,616,399

11

302,204
2,354,948

Commerce One Holdings Inc. (4496) Consolidated Financial Results for the Fiscal Year Ended March 31, 2024

Fiscal year ended March 31, 2024 (from April 1, 2023 to March 31, 2024)(Thousands of yen)
Shareholders’ equity

Balance at beginning of period
Changes during period
Dividends of surplus
Profit attributable to owners ofparentPurchase of treasury shares
Cancellation of treasury shares
Transfer from retained earnings tocapital surplus
Net changes in items other thanshareholders’ equity
Total changes during period
Balance at end of period

Balance at beginning of period
Changes during period
Dividends of surplus
Profit attributable to owners ofparentPurchase of treasury shares
Cancellation of treasury shares
Transfer from retained earnings tocapital surplus
Net changes in items other thanshareholders’ equity
Total changes during period
Balance at end of period

Share capital

Capital surplus

210,400

160,400

Retainedearnings

Treasury shares

2,123,373(139,224)(194,220)(194,220)414,864

414,864(109,797)
248,985(248,985)
248,985

Total
shareholders’equity2,354,948(248,985)(109,797)-

210,400

160,400(28,341)
2,095,031

Accumulated other comprehensive income
Valuation difference on
Total accumulated otheravailable-for-salecomprehensive income
securities
261,450
261,450

139,187(36)

Total net assets

2,616,399(194,220)414,864(109,797)-

117,729

117,729

117,729

117,729
379,180

117,729
379,180

228,575
2,844,974

12

110,8462,465,794

Commerce One Holdings Inc. (4496) Consolidated Financial Results for the Fiscal Year Ended March 31, 2024

(4) Consolidated Statements of Cash Flows(Thousands of yen)
For the fiscal year ended
March 31, 2023
Cash flows from operating activities
Profit before income taxes
Depreciation
Amortization of goodwill
Impairment losses
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Interest and dividend income
Interest expenses
Foreign exchange losses (gains)
Loss (gain) on sale of investment securities
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Decrease (increase) in prepaid expenses
Increase (decrease) in trade payables
Increase (decrease) in advances received
Decrease (increase) in deposits paid
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Purchase of intangible assets
Proceeds from sale of investment securities
Purchase of investment securities
Purchase of shares of subsidiaries resulting in change inscope of consolidation
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Repayments of lease liabilities
Purchase of treasury shares
Dividends paid
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

13

For the fiscal year ended
March 31, 2024

679,533
117,756
909(147)(26,036)(25,737)(848)(71,526)
10,10928(370)(17,078)(2,151)(111,289)(132,708)
420,441
25,737(282,207)
163,971

696,045
119,924
30,51530,515(1,263)
4,525(23,095)
188(22,206)(24,146)(1,577)(1,689)2,218(3,770)14,211
111,226
19,611
951,234
23,095(188)(195,533)
778,607(7,684)(101,633)
106,160(9,996)(3,233)(113,748)
32,739(278,625)(43,283)-33(56,403)(4,896)(367,764)(3,612)(139,154)(142,767)
453(34,744)
1,643,469
1,608,724(3,612)(109,797)(193,995)(307,406)
21,718125,154
1,608,724
1,733,879

Commerce One Holdings Inc. (4496) Consolidated Financial Results for the Fiscal Year Ended March 31, 2024

(5) Notes to Consolidated Financial Statements(Notes on going concern assumption)
Not applicable.
(Segment information, etc.)
Segment information is omitted as the Group’s business segment consists of a single segment, the E-Commerce
platform business, and the information is insignificant.
(Per share information)

Net assets per share

For the fiscal year
ended March 31, 2023
¥356.26

For the fiscal year
ended March 31, 2024
¥395.50¥58.78¥57.53

Basic earnings per share(Notes) 1. Diluted earnings per share are not presented since there are no dilutive shares.

2. Basic earnings per share are calculated based on the following:
For the fiscal year
ended March 31, 2023

For the fiscal year
ended March 31, 2024

Basic earnings per share
Profit attributable to owners of parent(Thousands of yen)

441,358

414,864

Amount not attributable to commonshareholders (Thousands of yen)--

Profit attributable to owners of parent
relating to common shares(Thousands of yen)

441,358

414,864

Average number of common shares
outstanding during period

7,509,197

7,211,152(Significant subsequent events)
Not applicable.

14