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.
February 8, 2024

Consolidated Financial Results
for the Nine Months Ended December 31,
2023 [Japanese GAAP]
Company name:
LAC Co., Ltd.
Securities code:
3857
Representative:
Itsuro Nishimoto, President and Representative Director
Contact:
Takayuki Morozumi, Executive Officer
Scheduled date of filing of Quarterly Report:
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/February 13, 2024
Yes
None

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

1. Consolidated Financial Results for the Nine Months Ended December 31, 2023
(from April 1, 2023 to December 31, 2023)(1) Consolidated Operating Results(% of change from previous year)

Net sales

December 31, 2023
December 31, 2022

Operating income

Net income attributableto owners of the parent

Ordinary income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

35,29031,16713.2
1.8694493

41.0
35.0618487

26.9
7.5373(1,050)-Note: Comprehensive income: 3rd Quarter of FY2023 (As of December 31, 2023)
3rd Quarter of FY2022 (As of December 31, 2022)

Net income pershare
December 31, 2023
December 31, 2022

358 millions of yen (-%)
(1,146) millions of yen (-%)

Diluted net
income per share

YenYen12.37(34.81)-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

December 31, 2023
March 31, 2023

Shareholders’equity ratio

Net assets

Net assets
per share

Millions of yen

Millions of yen%

Yen

21,34522,572

14,37814,82067.4
65.7

476.51491.17

Reference: Shareholders’ equity: As of December 31, 2023
14,378 millions of yen
As of March 31, 2023
14,820 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 31,2023
March 31,2024

TotalYen

Yen

Yen

Yen

Yen-

12.00
12.00

-

14.00

26.00

14.00

26.00

--March 31,2024 (Forecast)
Note: Revisions to the most recently announced forecast: None

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3. Forecast for the Fiscal Year Ending March 31, 2024 (from April 1, 2023 to March 31, 2024)(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

46,500

5.6

1,900

7.0

1,900

4.8

1,250-41.43

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:

None2) Changes in accounting policies other than 1) above:None3) Changes in accounting estimates:

Yes

4) Restatements:

None(4) Number of shares issued (common shares)
1) Number of shares issued (including treasury stock):
As of December 31, 2023

31,293,120 shares

As of March 31, 2023

31,293,120 shares

2) Number of treasury stocks:
As of December 31, 2023

1,118,099 shares

As of March 31, 2023

1,119,399 shares

3) Number of average shares during the period:
Nine months ended December 31, 2023

30,174,432 shares

Nine months ended December 31, 2022

30,172,962 shares

Note: The number of treasury shares at the end of the period includes the 793,300 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. Actualbusiness and other results may differ substantially due to various factors.

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Consolidated Financial Statements(1) Consolidated Balance Sheet(Thousands of yen)
As of March 31, 2023

As of December 31, 2023

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

6,144,725
6,723,341
1,247,095

5,144,163
6,125,055
1,765,950

Work in process
Other

194,679
1,621,653

570,577
1,202,433

Total current assets

15,931,494

14,808,180

1,700,264

1,611,041

AssetsCurrent assets

Non-current assets
Property, plant and equipment
Intangible assets
Goodwill

361,284
1,022,962

Software
Software in progress
Other

307,092

9,011
66,4181,049,570
11,807
94,647

Total intangible assets

1,459,678

1,463,117

Investments and other assets
Deferred tax assets
Other

445,370
3,035,548

343,617
3,119,174

3,480,918

3,462,792

6,640,861

6,536,951

22,572,356

21,345,131

3,303,118
1,336,000

3,813,684－

Income taxes payable

190,628

101,786

Provision for bonuses

164,877

12,679Total investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Accounts payable - trade
Current portion of long-term borrowings

Provision for loss on order received

87,69054,295Other

2,327,818

2,369,415

Total current liabilities

7,410,134

6,351,860

7,267

2,706

Non-current liabilities
Net defined benefit liabilities
Provision for directors’ share-based remuneration

31,61628,050

Provision for employees’ share-based remuneration

219,055

277,058－232,544

Other

83,99774,067

Total non-current liabilities

341,936

614,428

7,752,070

6,966,289

Asset retirement obligations

Total liabilities- more --4-(Thousands of yen)
As of March 31, 2023

As of December 31, 2023

Net assets
Shareholders' equity
Share capital

2,648,075

Capital surplus

5,659,036

2,648,075
5,816,621

Retained earnings

7,106,213

6,678,841

Treasury shares(612,633)(769,038)

14,800,691

14,374,498

Valuation difference on available-for-sale securities

2,188(26,637)

Foreign currency translation adjustment

17,40630,981

Total accumulated other comprehensive income

19,594

4,343

14,820,28614,378,842

22,572,356

21,345,131

Total shareholders' equity
Accumulated other comprehensive income

Total net assets
Total liabilities and net assets- more --5-(2) Consolidated Statement of Income(Thousands of yen)
Nine months ended
December 31, 2022
31,167,563

Nine months ended
December 31, 2023
35,290,623

Cost of sales

24,788,602

28,773,888

Gross profit

6,378,961

6,516,735

Selling, general and administrative expenses

Net sales

5,885,895

5,821,747

Operating income (loss)

493,065

694,987

Non-operating income
Interest income1,168

1,312

Commission income
Insurance dividend
Subsidy income

2,183
4,236
7,233

Equity in earnings of affiliates

3,726

2,242
4,985
3,832
－

Gain on investments in investment partnership
Other

6,108
7,768

－
4,333

Total non-operating income

32,425

16,707

Interest expenses
Commission fees

4,525
13,7791,133
12,218Foreign exchange losses
Equity in losses of affiliates
Loss on investments in investment partnership
Other

18,488－－787

18,86954,6603,576
2,314

Total non-operating expenses

37,58092,773

Ordinary income (loss)487,910

618,921Extraordinary losses
Loss on disposal of noncurrent assets

66,97552

Non-operating expenses

Loss on system development

1,820,028－

Total extraordinary losses

1,887,003

52

Income (loss) before income taxes(1,399,093)

618,869

Income taxes - current
Income taxes - deferred

159,416(508,048)

130,991
114,596

Total income taxes(348,631)

245,587

Net income (loss)(1,050,461)

373,281Net income (loss) attributable to owners of the parent(1,050,461)

373,281- more --6-(3) Consolidated Statement of Comprehensive Income(Thousands of yen)

Net income (loss)
Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total other comprehensive income
Comprehensive income

Nine months ended
December 31, 2022
(1,050,461)

Nine months ended
December 31, 2023
373,281(104,501)(28,825)

7,975

13,574(96,526)(15,250)

1,146,987

358,030(1,146,987)

358,030

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