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 June 30, 2024
(Based on Japanese GAAP)
August 9, 2024
Company name:

EXEO Group, Inc.

Stock exchange listing: Tokyo
Stock code:
1951
Representative:

Inquiries:

URL

https://www.exeo.co.jp/President and CEO
Director and Operating Officer

Tetsuya Funabashi

General Manager of Accounts & Finance
Division

Shigeki Hayashi

Chief Financial Officer
Scheduled date to commence dividend payments:–Preparation of supplementary material on financial results:
Holding of financial results meeting:

YesNo

TEL

03-5778-1105(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended June 30, 2024 (from April 1, 2024 to June 30, 2024)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parentMillions of yen% Millions of yen% Millions of yen% Millions of yen%
Three months ended June 30, 2024
125,415
0.8
2,938
17.8
5,384
14.3
3,009
15.1
Three months ended June 30, 2023
124,3822.9
2,494 (32.9)
4,711 (17.7)
2,615 (10.2)
Earnings per share

Diluted earnings per share

YenYenThree months ended June 30, 2024
14.37
14.37
Three months ended June 30, 2023
12.28
12.27
Note: On April 1, 2024, EXEO Group, Inc. implemented a 2-for-1 common stock split. Earnings per share and diluted earnings per share of threemonths ended June 30, 2023, were calculated on the assumption that the stock split had been implemented at the beginning of the fiscal year
ended March 31, 2024.
(2) Consolidated financial position
Total assets

Net assets

Equity ratio

Net assets per share

Millions of yen
Millions of yen%
Yen
As of June 30, 2024
531,928
312,20957.5
1,466.31
As of March 31, 2024
591,637
319,21752.9
1,490.44
Note: On April 1, 2024, EXEO Group, Inc. implemented a 2-for-1 common stock split. Net assets per share of three months ended June 30, 2023,
were calculated on the assumption that the stock split had been implemented at the beginning of the fiscal year ended March 31, 2024.
2. Cash dividends
Annual dividends per share

Year ended March 31, 2024
Year ending March 31, 2025

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
60.00

Yen–

Yen
60.00

Total
Yen
120.00Year ending March 31, 2025 (Forecast)
31.00
–
31.00
62.00
Note: On April 1, 2024, EXEO Group, Inc. implemented a 2-for-1 common stock split. For the fiscal years ended March 31, 2024, the actual
dividend amount before the stock split is shown. For the fiscal year ending March 31, 2025, the forecasted dividend amount after stock split isshown.

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3. Forecast of consolidated financial results for the year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%Yen
Full year
630,000
2.6
36,0005.536,340(1.6)
22,31011.2
107.22
4. Notes(1) Significant changes in the scope of consolidation during the three months ended June 30, 2024:(2) Application of special accounting methods for preparing quarterly consolidated financial statements:NoYes(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:

Yes
NoChanges 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 June 30, 2024

213,624,838 shares As of March 31, 2024

213,624,838 shares

Number of treasury shares at the end of the period
As of June 30, 2024

4,968,096 shares As of March 31, 2024

3,470,328 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2024
209,373,648 shares Three months ended June 30, 2023
213,085,759 shares
Note: On April 1, 2024, EXEO Group, Inc. implemented a 2-for-1 common stock split. Number of issued shares (common shares) werecalculated on the assumption that the stock split had been implemented at the beginning of the fiscal year ended March 31, 2024.

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Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2024

As of June 30, 2024

AssetsCurrent assets
Cash and deposits

48,24957,158Notes receivable, accounts receivable from completed
construction contracts and other235,633

157,066Securities
Costs on construction contracts in progress

053,421–63,068

Other
Allowance for doubtful accounts

10,637
(95)

9,583
(135)

Total current assets

347,845286,740

Buildings and structures, net
Land49,56563,191

52,46663,482Other, net

33,19732,427

Total property, plant and equipment

145,954

148,377

Goodwill
Other

13,872
8,795

13,625
8,988

Total intangible assets

22,66822,614

Investments and other assets
Other

76,10975,169Non-current assets
Property, plant and equipment

Intangible assets

Allowance for doubtful accounts

(941)

(973)

Total investments and other assets

75,16874,196

243,791

245,187

591,637

531,928

Total non-current assets
Total assets3

(Millions of yen)
As of March 31, 2024

As of June 30, 2024

Liabilities
Current liabilities
Notes payable, accounts payable for construction contracts
and other

73,41447,791

Short-term borrowings
Current portion of bonds payable

29,192
10,00019,843
10,000

Income taxes payable
Advances received on construction contracts in progress

10,13812,594

2,613
13,498Provisions
Other4,552
37,827

3,168
28,456

Total current liabilities

177,720

125,371

Non-current liabilities
Bonds payable

20,00020,000Long-term borrowings
Provisions

43,193771

43,348755

Retirement benefit liability
Other

9,778
20,955

9,827
20,415

Total non-current liabilities

94,69894,347

272,419

219,718

Total liabilities
Net assets
Shareholders' equity
Share capital

6,888

6,888

Capital surplus
Retained earnings

22,091
264,71122,039261,415

Treasury shares(4,534)(6,983)

Total shareholders' equity

289,156

283,360

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

11,201
1,796

10,407
1,538

Remeasurements of defined benefit plans

11,067

10,650Total accumulated other comprehensive income

24,064

22,595

Accumulated other comprehensive income

Share acquisition rights

142

121

Non-controlling interests

5,853

6,132

319,217

312,209591,637

531,928

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)(Millions of yen)Three months ended
June 30, 2023

Three months ended
June 30, 2024

Net sales

124,382

125,415

Cost of sales

108,084

108,866

Gross profit

16,297

16,548Selling, general and administrative expenses

13,803

13,610Operating profit

2,494

2,938

30

59

354
1,676

313
1,879

492

617

2,553

2,870

203
132

246
178

Non-operating income
Interest income
Dividend income
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Other336

424

Ordinary profit

Total non-operating expenses

4,711

5,384

Profit before income taxes

4,711

5,384

Income taxes

2,038

2,343

Profit

2,672

3,041

Profit attributable to non-controlling interests
Profit attributable to owners of parent

556

31

2,615

3,009

Consolidated statements of comprehensive income (cumulative)(Millions of yen)Three months ended
June 30, 2023

Three months ended
June 30, 2024

Profit

2,672

3,041

Other comprehensive income
Valuation difference on available-for-sale securities

1,391

(793)

Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax(862)
320(214)(417)

Total other comprehensive incomeComprehensive income

849(1,425)

3,522

1,615

3,475

1,539

4775

Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests6