Translation
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.
August 9, 2024

Consolidated Financial Results
for the Three Months Ended June 30, 2024
[Japanese GAAP]
Company name:
LAC Co., Ltd.
Securities code:
3857
Representative:
Itsuro Nishimoto, President and Representative Director
Contact:
Takayuki Morozumi, Managing Executive Officer
Scheduled date of payment of dividend:
Preparation of supplementary materials for financial results:
Holding of quarterly financial results meeting:Stock exchange listings: TSE
URL: https://www.lac.co.jp/english/

Yes
None

(All amounts are rounded down to the nearest millions of yen)

1. Consolidated Financial Results for the Three Months Ended June 30, 2024
(from April 1, 2024 to June 30, 2024)(1) Consolidated Operating Results(% of change from previous year)

Net sales
June 30, 2024
June 30, 2023

Operating income

Net income attributableto owners of the parent

Ordinary income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

13,204
11,619

13.6
14.3

(8)
(1)

-(24)
(46)

-(37)
(56)

-Note: Comprehensive income: 1st Quarter of FY2024 (As of June 30, 2024)(70) millions of yen (-%)

1st Quarter of FY2023 (As of June 30, 2023)(139) millions of yen (-%)

Net income pershare
June 30, 2024
June 30, 2023

Diluted net
income per share

YenYen(1.25)(1.88)-Note: The Company has introduced a stock benefit trust and an employee stock ownership plan. The Company’s shares remaining in these trusts arerecorded as treasury shares under shareholders’ equity and, when calculating earnings per share, these shares are deducted from the average
number of shares outstanding during the period.

(2) Consolidated Financial Position
Total assets

June 30, 2024
March 31, 2024

Shareholders’equity ratio

Net assets

Net assets
per share

Millions of yen

Millions of yen%

Yen

22,277
23,77014,901
15,40466.9
64.8

493.83510.51

Reference: Shareholders’ equity: As of June 30, 2024
As of March 31, 2024

14,901 millions of yen
15,404 millions of yen

Note: The Company’s shares remaining in the stock benefit trust and employee stock ownership plan, which are recorded as treasury shares undershareholders’ equity, are, when calculating earnings per share, deducted from the number of shares outstanding at the end of the period.

2. Dividends
Dividend per share
1st Quarter-End 2nd Quarter-End 3rd Quarter-End Fiscal Year-End
March 31,2024
March 31,2025

Total

Yen

Yen

Yen

Yen

Yen-

12.00

-

14.00

26.00

12.00

-

15.00

27.00

March 31,2025 (Forecast)
Note: Revisions to the most recently announced forecast: None- more --2-

3. Forecast for the Fiscal Year Ending March 31, 2025 (from April 1, 2024 to March 31, 2025)(Percentages represent year-on-year changes)

Net sales

Operating income

Ordinary income

Net income

Net income

per share

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

52,750

6.6

2,180

0.3

2,200

2.1

1,500

8.7

49.71

Full year

Note: Revisions to the most recently announced forecast: None

* Notes(1) Changes of important subsidiaries during the period(Changes of specific subsidiaries in accordance with changes in the scope of consolidation):(2) Adoption of specific accounting treatments to the preparation of consolidated quarterly
financial statements:

None

None

(3) Changes in accounting policies and accounting estimates, and restatements
1) Changes in accounting policies due to revisions in accounting standards:

Yes2) Changes in accounting policies other than 1) above:None3) Changes in accounting estimates:

None4) Restatements:

None(4) Number of shares issued (common shares)
1) Number of shares issued (including treasury stock):
As of June 30, 2024

31,293,120 shares

As of March 31, 2024

31,293,120 shares

2) Number of treasury stocks:
As of June 30, 2024

1,117,499 shares

As of March 31, 2024

1,117,999 shares

3) Number of average shares during the period:
Three months ended June 30, 2024

30,175,490 shares

Three months ended June 30, 2023

30,174,006 shares

Note: The number of treasury shares at the end of the period includes the 792,700 shares held by Custody Bank of Japan, Ltd. (Trust Account E) asassets in trust of the stock benefit trust and employee stock ownership plan.

* This financial report is outside the scope of the audit by certified public accountants or auditing firms.
* Explanation of the proper use of forecast and other notes
The forward-looking statements such as result forecasts included in this document are based on the information available
to the Company at the time of the announcement and on certain assumptions considered reasonable, and the Company makes
no representations as to their achievability. Accordingly, the Company cannot make promises to achieve such forecasts. Actual
business and other results may differ substantially due to various factors.

- more --3-

Consolidated Financial Statements(1) Consolidated Balance Sheet(Thousands of yen)
As of March 31, 2024

As of June 30, 2024

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

5,494,909
8,110,491
2,024,081

5,115,427
5,896,609
2,317,759

Work in process
Other

355,768

864,423

1,487,343

2,070,489

Total current assets

17,472,594

16,264,709

1,507,590

1,377,511

Goodwill

289,027

270,963

Software
Software in progress
Other812,632
85,491
85,200846,411
17,76375,752

Total intangible assets

1,272,352

1,210,891

Other440,343
4,511
3,073,162

454,483
2,574
2,967,817

Total investments and other assets

3,518,017

3,424,875

AssetsCurrent assets

Non-current assets
Property, plant and equipment
Intangible assets

Investments and other assets
Deferred tax assets
Retirement benefit asset

6,297,960

6,013,277

23,770,554

22,277,986

Liabilities
Current liabilities
Accounts payable - trade

4,006,312

3,315,689

Income taxes payable

595,405

98,149Provision for bonuses

24,907

13,995

Provision for loss on order received

32,28040,505

Total non-current assets
Total assets

232,544

232,544

Other

3,012,389

3,207,884

Total current liabilities

7,903,839

6,908,769

54,76254,478Provision for employee stock ownership plan trust

347,254368,575

Other

59,99744,586

Total non-current liabilities

462,014467,640

8,365,854

7,376,409

Assets retirement obligations

Non-current liabilities
Provision for management board benefit trust

Total liabilities- more --4-(Thousands of yen)
As of March 31, 2024

As of June 30, 2024

Share capital

2,648,075

2,648,075

Capital surplus

5,816,621

5,816,621

Retained earnings

7,685,432

7,214,121

Treasury shares(768,951)(768,516)

Total shareholders' equity

15,381,176

14,910,301(12,915)(53,780)

Net assets
Shareholders' equity

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

—

2,997

Foreign currency translation adjustment

36,43942,058

Total accumulated other comprehensive income

23,523(8,724)

15,404,700

14,901,577

23,770,554

22,277,986

Deferred gains（losses）on hedges

Total net assets
Total liabilities and net assets- more --5-(2) Consolidated Statement of Income(Thousands of yen)Three months ended
June 30, 2023
11,619,001

Three months ended
June 30, 2024
13,204,571

Cost of sales

9,670,202

11,065,453

Gross profit

1,948,798

2,139,118

Selling, general and administrative expenses

1,950,282

2,147,230(1,483)(8,112)

Interest income
Commission income
Subsidy income
Other607
741
1,285
1,564

677
771
—
1,082

Total non-operating income

4,198

2,531

Equity in losses of affiliates
Other597
10,570
4,391
31,2402,300－
13,584
3,455
1,410
900

Total non-operating expenses

49,09919,350(46,385)(24,931)38

267

Net sales

Operating income (loss)
Non-operating income

Non-operating expenses
Interest expenses
Foreign exchange losses
Commission fees

Ordinary income (loss)
Extraordinary losses
Loss on disposal of noncurrent assets

38

267

(46,423)
4,701
5,619

(25,198)
9,981
2,573

Total income taxes

10,32012,555

Net income (loss)(56,743)(37,753)

Net income (loss) attributable to owners of the parent(56,743)(37,753)

Total extraordinary lossesIncome (loss) before income taxes
Income taxes - current
Income taxes - deferred- more --6-(3) Consolidated Statement of Comprehensive Income(Thousands of yen)

Net income (loss)
Other comprehensive income
Valuation difference on available-for-sale securities

Three months ended
June 30, 2023
(56,743)

Three months ended
June 30, 2024
(37,753)

181,536(40,864)

Foreign currency translation adjustment
Deferred gains（losses）on hedges

15,166
—

5,618
2,997

Total other comprehensive income

196,702(32,248)

139,958(70,001)

139,958(70,001)

Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent###