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 March 31, 2024
(Based on Japanese GAAP)May 10, 2024
Company name:

SUNCALL CORPORATION

Stock exchange listing: Tokyo
Stock code:
5985

URL

https://www.suncall.co.jp

Representative:

Representative Director
Director and Senior Managing Executive

Tadao Otani

Inquiries:

Officer,
Chief Operating Officer Management

Masatoshi Kanada

Scheduled date of ordinary general meeting of shareholders:
Scheduled date to file Securities Report:

June 27, 2024
June 27, 2024

Scheduled date to commence dividend payments:
Preparation of supplementary material on financial results:

June 28, 2024
Yes

Holding of financial results meeting:

No

TEL

075-881-5280(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the year ended March 31, 2024 (from April 1, 2023 to March 31, 2024)(1) Consolidated operating results
Percentages indicate year-on-year changes
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Year ended March 31, 2024
51,496(3.6)(3,542)–(2,692)–(11,816)–
Year ended March 31, 2023
53,39912.6
304(53.1)
848 (17.0)
557(38.4)
Note: Comprehensive income

For the fiscal year ended March 31, 2024
For the fiscal year ended March 31, 2023
Earnings per share

Profit attributable toOrdinary profit/total Operating profit/net
owners ofassetssales
parent/equity
Yen
%
%
%
–
(34.9)
(4.3)
(6.9)
18.53
1.5
1.4
0.6

Diluted earnings per
share

Yen
(392.69)
18.57

Year ended March 31, 2024
Year ended March 31, 2023¥(8,127) million [–%]
¥1,524 million [(30.1)%]

Reference: Share of profit (loss) of entities accounted for using equity method
For the fiscal year ended March 31, 2024
For the fiscal year ended March 31, 2023

¥207 million¥117 million(2) Consolidated financial position
Total assets
Millions of yen
60,447
63,735

As of March 31, 2024
As of March 31, 2023
Reference: Equity

Net assets
Millions of yen
29,351
38,038

As of March 31, 2024

¥29,348 million

As of March 31, 2023

¥38,020 million

Equity ratio

Net assets per share
%
48.6
59.7

Yen
974.291,264.63(3) Consolidated cash flows

Year ended March 31, 2024
Year ended March 31, 2023

Cash flows fromoperating activities
Millions of yen
678
1,691

Cash flows frominvesting activities
Millions of yen(4,320)(4,946)

1

Cash flows from
Cash and cash equivalents
at end of period
financing activities
Millions of yen
Millions of yen
2,875
7,387
2,780
7,707

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

Year ended March 31, 2023
Year ended March 31, 2024
Year ending March 31, 2025
(Forecast)of dividends
Total cash
Dividend payout Ratio
to net assets
dividends (Total) ratio (Consolidated) (Consolidated)

Total

Yen

Yen

Yen

Yen

Yen

Millions of yen

%

%

–
–

11.00
10.00

–
–

9.00
10.00

20.00
20.00

607
608

107.7
–

1.6
2.1

–

0.00

–

10.00

10.00

304.3

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 to
Net sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Yen
Six months ending
27,500
9.3
(300)
–
(300)
–
(400)
–
(13.28)September 30, 2024
Full year
59,000
14.6
400
–
400
–
100
–
3.32
4. Notes(1) Changes in significant subsidiaries during the year ended March 31, 2024
(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:

No
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 March 31, 2024

34,057,923 shares As of March 31, 2023

34,057,923 shares

Number of treasury shares at the end of the period
As of March 31, 2024

3,934,678 shares As of March 31, 2023

3,993,335 shares

30,091,357 shares Year ended March 31, 2023

30,037,246 shares

Average number of shares during the period
Year ended March 31, 2024

Note: The number of treasury shares includes the Company’s shares remained in the trust account related to the performance-linked and sharebased remuneration plan.
(Number of treasury shares

As of March 31, 2024
As of March 31, 2023

309,350 shares
342,210 shares)2

[Reference] Overview of non–consolidated financial results
Non-consolidated financial results for the fiscal year ended March 31, 2024 (from April 1, 2023 to March 31, 2024)(1) Non-consolidated operating results(Percentages indicate year-on-year changes)
Net sales
Fiscal year ended March 31, 2024
Fiscal year ended March 31, 2023

Operating profit

Millions of yen
33,10635,051% Millions of yen(5.5)(4,335)
8.7(1,111)

Ordinary profit%––

Millions of yen(1,631)
1,356

Profit%–25.8

Millions of yen(10,751)979%–(21.6)

Basic earnings per share Diluted earnings per shareYen(357.29)
32.60

Fiscal year ended March 31, 2024
Fiscal year ended March 31, 2023

Yen
–
32.54

(2) Non-consolidated financial position
Total assets
Millions of yen
47,98253,323As of March 31, 2024
As of March 31, 2023
Reference: Equity

Net assets

As of March 31, 2024
As of March 31, 2023

Millions of yen
24,082
33,975Equity-to-asset ratio
%
50.2
63.7

Net assets per shareYen
799.36
1,129.48¥24,079 million¥33,957 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
The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to theCompany and on certain assumptions deemed to be reasonable. These statements do not purport that the Company pledges to realize suchstatements. Actual performance and other results may differ materially due to various factors.

3

Consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2023

As of March 31, 2024

AssetsCurrent assets
Cash and deposits
Notes receivable - trade

7,707
258

7,422
257

Accounts receivable - trade
Contract assets

10,681
1

11,463–Merchandise and finished goods
Work in process

3,840
2,983

3,013
4,158

Raw materials and supplies
Other

3,990
1,986

3,644
1,689

Total current assets

31,44931,648

Buildings and structures, net
Machinery, equipment and vehicles, net

5,844
10,840

5,752
5,811

Land
Leased assets, net

1,810
562

2,297
408

Construction in progress
Other, net

3,051
892

542
707

Total property, plant and equipment

23,001

15,520344

316

Investment securities
Long-term loans receivable

6,761
75

8,998
124

Retirement benefit asset
Deferred tax assets

1,840
17

3,616
20

246

202

Non-current assets
Property, plant and equipment

Intangible assets
Investments and other assets

Other
Total investments and other assets
Total non-current assets
Total assets

4

8,940

12,96232,286

28,79863,73560,447

(Millions of yen)
As of March 31, 2023

As of March 31, 2024

Liabilities
Current liabilities
Notes and accounts payable - trade

7,103

6,866

Short-term borrowings
Current portion of long-term borrowings

7,952
526

12,278358

Lease liabilities
Accounts payable - other

184
3,871

129
3,058

Income taxes payable
Provision for bonuses

152
433

150
450

Other

1,099

1,294

Total current liabilities

21,324

24,584Long-term borrowings
Lease liabilities

2,123
244

1,851
171

Deferred tax liabilities
Retirement benefit liability

471
1,132

2,894
1,178

Provision for share awards
Other

125
275

129
284

Total non-current liabilities

4,372

6,510

25,69631,095

Shareholders' equity
Share capital

4,808

4,808

Capital surplus
Retained earnings

2,833
27,1692,837
14,775

Treasury shares(1,684)(1,655)

Total shareholders' equity

33,126

20,765

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

2,761
10

4,181
51

Foreign currency translation adjustment
Remeasurements of defined benefit plans

1,465
656

2,532
1,817

Total accumulated other comprehensive income

4,894

8,583

17

2

38,03829,351

63,73560,447

Non-current liabilities

Total liabilities
Net assets

Accumulated other comprehensive income

Share acquisition rights
Total net assets
Total liabilities and net assets

5Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income(Millions of yen)
Fiscal year ended
March 31, 2023

Fiscal year ended
March 31, 2024

Net sales

53,39951,496

Cost of sales

47,64249,484Gross profit

5,756

2,012

700
266

653
227

1,176
240

1,265
248

Provision for bonuses
Retirement benefit expenses

88
85

93
86

Outsourcing expenses
Depreciation

218
471

244
455

Travel and transportation expenses
Other

57
2,147

76
2,203

Total selling, general and administrative expenses

5,452

5,554

304

(3,542)

Interest income
Dividend income

20
155

62
154

Share of profit of entities accounted for using equity method
Foreign exchange gains

117
116

207
422

Rental income
Gain on sale of goods

21
181

21
179

Other

51

79

Total non-operating income

662

1,126

Interest expenses
Other

110
8

247
28

Total non-operating expenses

118

276

848

(2,692)

2

5

625
4

330
0

Insurance claim income
Other

1,318
0

123
0

Total extraordinary income

1,950

460

Selling, general and administrative expenses
Transportation and storage costs
Remuneration for directors (and other officers)
Salaries and allowances
Bonuses

Operating profit (loss)
Non-operating income

Non-operating expenses

Ordinary profit (loss)
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Profit on cansellation of leases

6

(Millions of yen)

Extraordinary losses
Loss on sale of non-current assets

Fiscal year ended

Fiscal year ended

March 31, 2023

March 31, 2024
2

0

22
–

69
7,605

Compensation expenses
Other

1,838
0

127
–

Total extraordinary losses

1,864

7,802

Profit (loss) before income taxes

934(10,034)

Income taxes - current

453

494

Income taxes - deferred

(75)

1,286

Total income taxes

377

1,781

Profit (loss)

557(11,816)

Profit (loss) attributable to owners of parent

557(11,816)

Loss on abandonment of non-current assets
Impairment losses

7Consolidated statements of comprehensive income(Millions of yen)

Profit (loss)
Other comprehensive income

Fiscal year ended

Fiscal year ended

March 31, 2023

March 31, 2024
557

(11,816)

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

(218)
1,255

1,417
1,027

Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities accounted

(110)

1,182

40

61

966

3,688

Comprehensive income

1,524(8,127)

Comprehensive income attributable toComprehensive income attributable to owners of parent

1,524(8,127)––for using equity method
Total other comprehensive income

Comprehensive income attributable to non-controllinginterests

8

Consolidated statements of changes in equity
Fiscal year ended March 31, 2023
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of period

Capital surplus

4,808

Retained earnings

2,827

Total shareholders'equityTreasury shares

27,280(1,701)

33,214

Changes during period
Dividends of surplus

(668)

(668)

Profit (loss) attributable toowners of parent

557

557

Purchase of treasury shares
Exercise of share acquisitionrights

5

(0)

(0)

16

21

disposal of treasury stock by
ESOP–

Net changes in items otherthan shareholders' equity–

Total changes during period
Balance at end of period

–

5

(110)

16

(88)

4,808

2,833

27,169(1,684)

33,126

Accumulated other comprehensive income

Balance at beginning of period

Valuationdifference on
available-forsale securities

Deferred gains
or losses onhedges2,978–Foreigncurrencytranslation
adjustment
202

Total
accumulatedof defined benefit
other
plans
comprehensive
incomeRemeasurements

747

3,928

Share
acquisitionrights39

Total net
assets37,182

Changes during period
Dividends of surplus(668)

Profit (loss) attributable toowners of parent

557

Purchase of treasury shares(0)

Exercise of share acquisitionrights21

disposal of treasury stock by
ESOP–

Net changes in items otherthan shareholders' equity

(216)

10

1,263

(91)

966

(21)

944

Total changes during period

(216)

10

1,263

(91)

966

(21)

856

Balance at end of period

2,761

10

1,465

656

4,894

17

38,0389

Fiscal year ended March 31, 2024
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of period

Capital surplus

4,808

Retained earnings

2,833

Total shareholders'equityTreasury shares

27,169(1,684)

33,126

Changes during period
Dividends of surplus
Profit (loss) attributable toowners of parent

(577)

(577)

(11,816)(11,816)

Purchase of treasury shares
Exercise of share acquisitionrights4

disposal of treasury stock by
ESOP

(0)

(0)

10

15

18

18

Net changes in items otherthan shareholders' equity–

Total changes during period
Balance at end of period–

4(12,394)28(12,360)

4,808

2,837

14,775(1,655)

20,765

Accumulated other comprehensive income

Balance at beginning of period

Valuationdifference on
available-forsale securities

Deferred gains
or losses onhedges2,761

10Foreigncurrencytranslation
adjustment
1,465

Total
accumulatedof defined benefit
other
plans
comprehensive
incomeRemeasurements

656

4,894

Share
acquisitionrightsTotal net
assets17

38,038Changes during period
Dividends of surplus(577)

Profit (loss) attributable toowners of parent(11,816)

Purchase of treasury shares(0)

Exercise of share acquisitionrights15

disposal of treasury stock by
ESOP

18

Net changes in items otherthan shareholders' equity

1,419

40

1,067

1,161

3,688

(14)

Total changes during period

1,419

40

1,067

1,161

3,688

(14)

(8,686)

Balance at end of period

4,181

51

2,532

1,817

8,583

2

29,351

10

3,673

Consolidated statements of cash flows(Millions of yen)

Cash flows from operating activities
Profit (loss) before income taxes

Fiscal year ended

Fiscal year ended

March 31, 2023

March 31, 2024
934

(10,034)

4,203
(4)

4,312
17

Increase (decrease) in provision for share awards
Decrease (increase) in retirement benefit asset

51
57

4
(93)

Increase (decrease) in retirement benefit liability
Interest and dividend income

22
(176)

53
(217)

Interest expenses
Foreign exchange losses (gains)

110
(5)

247
(160)

Share of loss (profit) of entities accounted for using equity
method

(117)

(207)

Loss (gain) on sale of non-current assets
Loss on abandonment of non-current assets

0
22

(5)
69

Loss (gain) on sale of investment securities
Decrease (increase) in trade receivables

(625)
394

(330)
(584)

(1,799)
(363)

536
(435)

Impairment losses
Other, net

–
(578)

7,605
366

Subtotal

2,127

1,144

Interest and dividends received
Interest paid

200
(90)

271
(210)

Income taxes paid
Income taxes refund

(546)
0

(527)
0

Net cash provided by (used in) operating activities

1,691

678

(4,007)(4,626)

3
845

6
430

(1,719)
(69)

–
(97)

0
–

1
(35)

Net cash provided by (used in) investing activities(4,946)(4,320)Cash flows from financing activities
Net increase (decrease) in short-term borrowings

2,440

4,139

Proceeds from long-term borrowings
Repayments of long-term borrowings

1,786
(569)

168
(663)

Repayments of lease liabilities
Proceeds from disposal of treasury shares

(209)
0

(195)
5

Purchase of treasury shares
Dividends paid

(0)
(667)

(0)
(578)

Net cash provided by (used in) financing activities

2,780

2,875

Effect of exchange rate change on cash and cash equivalents

671

445

Net increase (decrease) in cash and cash equivalents

197

(320)

Cash and cash equivalents at beginning of period

7,510

7,707

Cash and cash equivalents at end of period

7,707

7,387

Depreciation
Increase (decrease) in provision for bonuses

Decrease (increase) in inventories
Increase (decrease) in trade payables

Cash flows from investing activities
Purchase of non-current assets
Proceeds from sale of non-current assets
Proceeds from sale of investment securities
Purchase of shares of subsidiaries and associates
Loan advances
Proceeds from collection of loans receivable
Net decrease (increase) in time deposits

11