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 Year Ended December 31, 2023
(Based on Japanese GAAP)
February 9, 2024
Company name:

EBARA JITSUGYO CO.,LTD.

Stock exchange listing: Tokyo
Stock code:
6328
Representative:
Inquiries:

URL

https://www.ejk.co.jp/President and COO
Managing Executive Officer, Head ofPlanning & Strategy OfficeScheduled date of ordinary general meeting of shareholders:Toshinori Yoshida
Shuji Ohno

TEL03-5565-2885

March 26, 2024

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

March 26, 2024
March 27, 2024

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

Yes
Yes

(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the year ended December 31, 2023 (from January 1, 2023 to December 31, 2023)(1) Consolidated operating results

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen%
20.0
4,025
46.0
4,164
42.1
3,141
44.8
(6.9)
2,756
(30.8)
2,929(28.7)
2,169(31.3)Net salesYear ended December 31, 2023
Year ended December 31, 2022

Millions of yen
36,28030,229Profit attributable toOrdinary profit/total Operating profit/net
owners ofassets
sales
parent/equity
Yen%%%–
15.9
11.0
11.1
–
11.6
8.5
9.1

Diluted earnings pershare

Earnings per shareYen
263.12
177.15

Year ended December 31, 2023
Year ended December 31, 2022
(2) Consolidated financial position

Total assets
As of December 31, 2023
As of December 31, 2022

Net assets

Equity ratio

Millions of yen
41,91733,528Millions of yen
21,02818,396

Cash flows fromoperating activities
Millions of yen
4,712
1,615

Cash flows frominvesting activities
Millions of yen(143)
9

Net assets per share%
50.2
54.9

Yen
1,761.94
1,515.25(3) Consolidated cash flows

Year ended December 31, 2023
Year ended December 31, 2022

Cash flows from
Cash and cash equivalents
at end of period
financing activities
Millions of yen
Millions of yen(1,680)13,854(1,614)
10,965

2. Cash dividends
Annual dividends per share
1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end

Year ended December 31, 2022
Year ended December 31, 2023
Year ending December 31, 2024
(Forecast)of dividends
Total cash
Dividend payout Ratio
to net assets
dividends (Total) ratio (Consolidated) (Consolidated)

Total

Yen

YenYenYenYen

Millions of yen%%––42.5042.50

––

42.50
42.50

85.00
85.00

1,043
1,017

48.0
32.3

5.5
5.2

–

47.50

–

47.50

95.00

136.0

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

Millions of yen
38,000Percentages 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
4.7
4,050
0.6
4,200
0.9
3,150
0.3
263.86

4. Notes(1) Changes in significant subsidiaries during the year ended December 31, 2023
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) 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:

Yes
No

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2023

12,930,000 shares As of December 31, 2022

12,930,000 shares

Number of treasury shares at the end of the period
As of December 31, 2023

995,144 shares As of December 31, 2022

788,816 shares

11,938,084 shares Year ended December 31, 2022

12,245,033 shares

Average number of shares during the period
Year ended December 31, 2023

2

Consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of December 31, 2022

As of December 31, 2023

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

11,296
10,631

14,497
14,273Merchandise and finished goods
Work in process

1,159
331

1,285
371

Costs on construction contracts in progress
Raw materials and supplies

173
481

130
536

Other
Allowance for doubtful accounts

359
(1)

270(1)

24,432

31,364

3,704(2,020)3,801(2,130)

Buildings and structures, net

1,684

1,671

Machinery, equipment and vehicles
Accumulated depreciation

206
(160)

215(175)

4640

691
(599)

767
(648)

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

Machinery, equipment and vehicles, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net

91

119

1,356
2

1,356
3

7(1)

34(4)

6

29

3,187

3,220

86

95

Investment securities
Insurance funds

4,494
410

5,889
429

Investment property, net
Deferred tax assets

636
117

646
58

Other
Allowance for doubtful accounts

268
(105)

318
(104)

Total investments and other assets

5,822

7,237

9,09610,553

33,52841,917Land
Construction in progress
OtherAccumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets

Total non-current assets
Total assets3

(Millions of yen)
As of December 31, 2022

As of December 31, 2023

Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Current portion of long-term borrowings
Income taxes payable
Accrued consumption taxes
Contract liabilities
Provision for loss on construction contracts
Other9,809

12,5881,010
80

1,01080329
21

838
275

1,661
22

3,132
25

714

1,049

13,64719,000Long-term borrowings
Deferred tax liabilities

91
868

–
1,247

Provision for retirement benefits for directors (and otherofficers)

158

158

Retirement benefit liability
Other

241
122

260
222

Total non-current liabilities

1,483

1,889

15,131

20,889

Shareholders' equity
Share capital

1,001

1,001

Capital surplus
Retained earnings

831
15,700844
17,814

Treasury shares(1,378)(1,943)

Total shareholders' equity

16,154

17,717

2,228
14

3,294
17

Total current liabilities
Non-current liabilities

Total liabilities
Net assets

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

4

2,242

3,311

18,39621,02833,52841,917

Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income(Millions of yen)
Fiscal year ended
December 31, 2022

Fiscal year ended
December 31, 2023

Net sales
Net sales of finished goods and construction sales
Net sales of goods

24,455
5,773

27,697
8,583

Total net sales

30,22936,28016,657

18,741

Cost of sales
Cost of finished goods sold and construction sales
Cost of goods sold

4,289

6,396

Total cost of sales

20,947

25,138Gross profit-finished goods and construction sales
Gross profit - merchandise

7,798
1,483

8,956
2,186

Total gross profit

9,282

11,142

Selling, general and administrative expenses

6,525

7,117

Operating profit

2,756

4,025

Interest income
Dividend income

0114

0120

Rental income from investment property
Other

100
25

9723

Total non-operating income

241241Gross profit

Non-operating income

Non-operating expenses
Interest expenses

55Rental expenses on real estate
Foreign exchange losses

40145516

Loss on cancellation of insurance policies
Commission expenses

14–25

Other

30

Total non-operating expenses

68103

2,929

4,164

140

201

140201

Ordinary profit
Extraordinary income
Gain on sale of investment securities
Total extraordinary income
Extraordinary losses
Loss on disposal of non-current assets

110

Loss on investments in silent partnerships
Other

90––

Total extraordinary losses

210

Profit before income taxes

3,048

4,365

Income taxes - current
Income taxes - deferred

945
(66)

1,257
(33)

Total income taxes

879

1,224

Profit

2,169

3,141

Profit attributable to owners of parent

2,169

3,141

5

Consolidated statements of comprehensive income(Millions of yen)

ProfitOther comprehensive income

Fiscal year ended

Fiscal year ended

December 31, 2022

December 31, 2023

2,169

3,141

Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans, net of tax(1,716)
(0)

1,065
2

Total other comprehensive income(1,717)

1,068

451

4,209

451

4,209––

Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

6

Consolidated statements of changes in equity
Fiscal year ended December 31, 2022
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of period

Capital surplus

1,001

Retained earnings

1,032

15,133Cumulative effects of changes
in accounting policies
Restated balanceTotal shareholders'equityTreasury shares(1,974)

95
1,001

1,032

15,22815,19295(1,974)

15,287

Changes during period
Dividends of surplus(1,110)(1,110)

Profit attributable to owners ofparent

2,169

2,169

Purchase of treasury shares

(326)

(326)

13120

134

Cancellation of treasury shares

(801)

801

–

Transfer from retained
earnings to capital surplus

586

Disposal of treasury shares

(586)

–

Net changes in items otherthan shareholders' equity
Total changes during period
Balance at end of period

–

(201)

472

595

866

1,00183115,700(1,378)16,154

Accumulated other comprehensive income

Balance at beginning of period

Valuation difference
on available-for-salesecurities

Remeasurements ofdefined benefit plans

Total accumulated
other comprehensive
income

3,944

15

3,959

Cumulative effects of changes
in accounting policies
Restated balance

Total net assets

19,152
95

3,944

15

3,959

19,247

Changes during period
Dividends of surplus(1,110)

Profit attributable to owners ofparent2,169

Purchase of treasury shares(326)

Disposal of treasury shares

134

Cancellation of treasury shares–

Transfer from retained
earnings to capital surplus–

Net changes in items otherthan shareholders' equity(1,716)(0)(1,717)(1,717)

Total changes during period(1,716)(0)(1,717)(850)

Balance at end of period

2,228

14

2,242

18,396

7

Fiscal year ended December 31, 2023
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of period

Capital surplus

1,001

Retained earnings

831

15,700Treasury shares(1,378)

Total shareholders'equity
16,154

Changes during period
Dividends of surplus(1,027)(1,027)

Profit attributable to owners ofparent

3,141

3,141

Purchase of treasury shares
Disposal of treasury shares

13(673)

(673)

108

122

Net changes in items otherthan shareholders' equity
Total changes during period
Balance at end of period

–

13

2,113

(564)

1,562

1,001

844

17,814(1,943)

17,717

Accumulated other comprehensive income

Balance at beginning of period

Valuation difference
on available-for-salesecurities

Remeasurements ofdefined benefit plans

Total accumulated
other comprehensive
income2,228

142,242

Total net assets

18,396

Changes during period
Dividends of surplus(1,027)

Profit attributable to owners ofparent

3,141

Purchase of treasury shares(673)

Disposal of treasury shares

122

Net changes in items otherthan shareholders' equity

1,065

2

1,068

1,068

Total changes during period

1,065

2

1,068

2,631

Balance at end of period

3,294

17

3,311

21,0288

Consolidated statements of cash flows(Millions of yen)
Fiscal year ended

Fiscal year ended

December 31, 2022

December 31, 2023

Cash flows from operating activities
Profit before income taxes

3,048

4,365Depreciation
Share-based payment expenses

231
37250
39

Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for loss on construction

(0)

(0)

(56)

357

23

Interest and dividend income
Interest expenses(115)
5(120)
5

Loss (gain) on cancellation of insurance policies
Loss (gain) on sale of investment securities

1(140)(2)(201)

Loss (gain) on disposal of non-current assets
Loss (gain) on investments in silent partnerships

1190–

Decrease (increase) in trade receivables and contract assets
Decrease (increase) in inventories

(184)
(122)

(3,641)(177)

Increase (decrease) in trade payables
Increase (decrease) in contract liabilities

(19)
291

2,779
1,471

Increase/decrease in consumption taxes payable/consumption
taxes refund receivable

(312)

253

Other, net

241

372

Subtotal

contracts
Increase (decrease) in retirement benefit liability

2,983

5,419

Interest and dividends received

116

121

Proceeds from insurance income
Interest paid

17(5)

3(5)

Income taxes paid

(1,496)(826)

Net cash provided by (used in) operating activities

1,615

4,712(186)
(242)

(312)
(119)

Purchase of intangible assets
Purchase of investment securities

(2)
(5)

(52)
(199)

Proceeds from sale and redemption of investment securities
Proceeds from cancellation of insurance funds

332
53541
40

Proceeds from collection of loans receivable
Purchase of investment property

0(20)

0(1)

Proceeds from sale of investment property
Proceeds from withdrawal of investments in silent

49–

3–

Cash flows from investing activities
Net decrease (increase) in forced deposits
Purchase of property, plant and equipment

partnerships
Other, net

27(40)Net cash provided by (used in) investing activities

9(143)

9

(Millions of yen)

Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Repayments of long-term borrowings
Repayments of lease liabilities
Dividends paid
Purchase of treasury shares
Proceeds from disposal of treasury shares
Net cash provided by (used in) financing activities
Net increase (decrease) in cash and cash equivalents

Fiscal year ended

Fiscal year ended

December 31, 2022

December 31, 2023
(80)

–(85)
(1)

(91)
(9)

(1,113)(399)(1,026)
(627)

64

74

(1,614)(1,680)9

2,888Cash and cash equivalents at beginning of period

10,955

10,965

Cash and cash equivalents at end of period

10,965

13,85410