Note: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.

Consolidated Financial Results
for the Six Months Ended September 30, 2023
(Under Japanese GAAP)

November 9, 2023

Company name: Japan Communications Inc.
Listing:
Tokyo Stock Exchange: Prime Market
Securities code:
9424
URL:
http://www.j-com.co.jp/
Representative:
Naohisa Fukuda, Representative Director-President
Inquiries:
Mitsuru Kodaira, Executive Officer, and CFO
Telephone:+81-3-5776-1700
Scheduled date to file quarterly securities report:
November 10, 2023
Scheduled date to commence dividend payments:–
Preparation of supplementary material on quarterly financial results: Yes
Holding of quarterly financial results briefing:
Yes (for institutional investors, analysts andthe press)(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the six months ended September 30, 2023 (from April 1, 2023 to
September 30, 2023)(1) Consolidated operating results (cumulative)
Net revenue
Six months ended(Percentages indicate year-on-year changes.)

Operating profit

Millions of yen%

Millions of yen

Profit attributable toowners of parent

Ordinary profit%

Millions of yen%

September 30, 2023

3,503

26.8

532

81.3

571

70.4

September 30, 2022

2,762

25.4

293

458.3

335

495.0

Note: Comprehensive income

For the six months ended September 30, 2023:
For the six months ended September 30, 2022:

Basic earnings
per share
Six months ended¥789 million¥251 million

Millions of yen

%

819

172.2

301

364.7

[213.4%][376.1%]

Diluted earnings
per share
Yen

Yen

September 30, 2023

4.96

4.96

September 30, 2022

1.83

1.81

(2) Consolidated financial position
Total assets
As of

Net assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen

September 30, 2023

3,700

2,338

59.8

13.41

March 31, 2023

3,040

1,534

46.1

8.50

Reference:

EquityAs of September 30, 2023:
As of March 31, 2023:¥2,214 million¥1,402 million

1

%

Yen

2. Cash dividends
Annual dividends per shareFirst quarter-end
Yen

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

Second quarter-end

Third quarter-end

Yen

Yen

–

0.00

–

0.00

Fiscal year ending
March 31, 2024
(Forecast)Fiscal year-end

Total

Yen

Yen

–

0.00

0.00

–

0.00

0.00

Note: Revisions to the forecast of cash dividends most recently announced: None

3. Overview and management policy for the fiscal year ending March 31, 2024
Since its founding in 1996, the Company has propounded and implemented the MVNO business model, an
innovative form of telecommunications business, having developed its business with the mission of transferring(communicating) data safely, securely, and conveniently. Specifically, the Company is engaged in threebusinesses: mobile communications business (SIM business), communications business through local mobile
networks (local 4G/5G), and digital ID (FPoS: Fintech Platform over SIM) business for use on smartphones.
The Company plans to ensure a stable revenue base with continuous evolution in the SIM business and to invest
the revenue in the local 4G/5G business and FPoS business in order to develop them into pillars of future earnings.
In the local 4G/5G business, the Company aims to build advanced showcases in the U.S. and leverage thisexperience to expand in Japan.
In the FPoS business, the Company has acquired a certification under the Digital Signature Act for “my Digital
Certificate” (issued by my FinTech Inc., a subsidiary of the Company) based on its patented FPoS technology,
and develops the “my Digital Certificate” to be actually utilized as a safe, secure, and convenient digital ID thatcan be used on smartphones.
Considering the factors described above, one of the Company’s management priorities is to grow the scale of its
business to a market capitalization of 500 billion yen in three to five years from the launch of the commercial
service of FPoS.

2

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change
in scope of consolidation): None
(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements:
None(3) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: None(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
(4) Number of issued shares (common shares)(i)

Total number of issued shares at the end of the period (including treasury shares)
As of September 30, 2023

165,009,239 shares

As of March 31, 2023

165,009,239 shares(ii) Number of treasury shares at the end of the period
As of September 30, 2023

15,004 shares

As of March 31, 2023

15,004 shares(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal
year)
Six months ended September 30, 2023

164,994,235 shares

Six months ended September 30, 2022

164,436,114 shares* Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants
or an audit corporation.

3

1. Qualitative Information on Results for the Six Months Ended September 30(1) Explanation on operating results
Since its founding in 1996, the Company has propounded and implemented the MVNO business model, an
innovative form of telecommunications business, having developed its business with the mission of transferring(communicating) data safely, securely, and conveniently. Specifically, the Company is engaged in threebusinesses: mobile communications business (SIM business), communications business through local mobile
networks (local 4G/5G), and digital ID (FPoS: Fintech Platform over SIM) business for use on smartphones.
The Company plans to ensure a stable revenue base with continuous evolution in the SIM business and to invest
the revenue in the local 4G/5G business and FPoS business in order to develop them into pillars of future
earnings.
(i) Mobile Communications Business (SIM business)
Upon a ruling by the Minister of Internal Affairs and Communications in June 2020, since the Company
launched the “Nihon Tsushin SIM” which provides flat-rate voice plans equivalent to that of major mobile
phone operators in July 2020, the Company has continued to achieve growth both in the number ofsubscribed lines and quarterly revenue.
The Company has continued to improve the product specifications of “Nihon Tsushin SIM” to strengthen
its product competitiveness. In April 2022, the Company started supporting eSIM, which is embedded indevices such as smartphones, in advance of other MVNOs (announced on April 6, 2022). In addition, by
March 2023, the Company had introduced an identification method using electronic certificates stored in“My Number Card” in identification under the Act on Identification, etc. by Mobile Voice Communications
Carriers of their Subscribers, etc. and for Prevention of Improper Use of Mobile Voice Communications
Services.
In April 2023, the Company increased the basic data limit for data communications of “Reasonable Minnano Plan,” which is a flagship plan of “Nihon Tsushin SIM,” from 6 GB to 10 GB, while keeping basic
monthly fees unchanged. In May 2023, the Company became the first in the MVNO industry to support the
MNP one-stop system (Note).
As the above products being evaluated, revenue from “Nihon Tsushin SIM” has been growing steadily forboth individual and corporate subscribers. In addition, the number of subscribers for voice communication
services under partner brands has also been increasing steadily, and as a result, the SIM business has
continued to see growth both in the MVNO Business and the Enabler Business.
Note:

The MNP one-stop system allows customers who wish to switch to another carrier without changing
their mobile number (this is called “MNP”) to complete the MNP procedure simply by applying on
the website of the carrier to which they are switching, without having to obtain an MNP reservation
number from the carrier to which they subscribed.

(ii) Local 4G/5G Business through Local Mobile Networks
In the local 4G/5G business, the Company aims to build advanced showcases in the U.S. and leverage thisexperience to expand in Japan. A U.S. subsidiary of the Company operates a business that provides SIMs
used for connections with local mobile networks in the U.S. market. To connect with local mobile networks,
it is necessary to write a large amount of highly specialized information to SIMs. The Company provides
SIMs that can connect to local mobile networks set up by partner and customer companies by accumulating
and utilizing technologies and expertise in relevant fields through the U.S. subsidiary. The Company willcontinue to accumulate knowledge in Japan and the U.S., and will utilize this knowledge to develop caseexamples in the local 4G/5G business.
(iii) Digital ID (FPoS) Business for Use on Smartphones
As digital transformation (DX) underway in many areas of society and the economy, the importance ofdigital IDs is recognized again, and the Company is pushing forward with a business that will establish andprovide digital IDs that can be used on smartphones using FPoS, the Company’s patented technology. FPoS
guarantees the identity (confirmation of the person’s identity) and authenticity (confirmation that the4person’s intent is not falsified) of a customer by examining the combination of a public key contained in anelectronic certificate issued to the customer’s smartphone (iPhone and Android) by an electronic
certification authority accredited under the Digital Signature Act and a private key generated in thecustomer’s smartphone.
Currently, services of various providers are available through apps on smartphones. However, it is widely
recognized that the customer’s data (including personal information) when using applications i) may be
impersonated or falsified with, and ii) cannot be managed by the customer because it is shared with a third
party other than the service provider. Therefore, a method that can ensure the security and privacy of datacontaining personal information without compromising customer convenience is strongly required.
As for i), in the Internet world, it is easier to impersonate or falsify than in real world. Because we cannot
confirm the counterpart is who we think he or she is, and we cannot confirm the information that arrived
from the counterpart is in fact sent by him or her. As a result, intentions or transactions over the Internet
cannot always be reliable.
FPoS ensures the security of customer data (including personal information) through a mechanism that
grants access only when a public key contained in an electronic certificate correctly combines with a private
key generated in a smartphone. For example, when using a mobile phone, an IC chip known as SIM is
required instead of an ID and password or one-time password. This is because mobile phone operators haveestablished a technical safeguard using SIM, IC chip, to identify subscribers instead of passwords, which
can be hacked. FPoS is based on the same concept and serves as a robust technical safeguard to protect
access to customer’s data (including personal information), as does access to mobile communication
networks.
FPoS is a mechanism that can guarantee the identity and authenticity of communications over the Internet.
Making intentions and transactions over the Internet more trustworthy by an implementation of FPoS, would
be a means to solve problems in a wide range of sectors, including not only banking (Internet banking), butalso healthcare, administration, education, and transportation, etc.
As for ii), currently, when a smartphone application is downloaded and used, the terms of use, etc. aredisplayed, and if users do not agree to them, they cannot use the application (and are deemed to have agreed
to them if they do use the application) (Opt-in method). Users are considered to have initiative in Opt-in
method, but in reality, not many users will carefully read, understand, and agree to the terms of use before
using the app. Therefore, the Company added “Dynamic Opt-in” function to FPoS to compensate for theimperfections of the Opt-in method. This is a function that displays a list of the recipients of the customers’
personal information on their smartphone and allows the customers to authorize or revoke the provision of
their personal information, allowing them to manage their own personal information.
In order to demonstrate the above potential of FPoS, the Company is cooperating with Mebuku Ground Inc.,a private-public partnership company made up of Maebashi City, private-sector business enterprises anduniversities. Since October 2022, Mebuku Ground Inc. has been operating “mebuku App” which issues“mebuku ID,” a digital ID using FPoS technology.
The greatest strength of “mebuku ID” is its high security, but in addition, its greatest differentiating factor
is its ability to securely and reliably link personal information held by multiple business operators throughits high security. The everyday activities of people span across multiple domains, such as governmentoperated public domains, medical and educational institutions and other quasi-public domains, and besides
those, the various private domains. If personal information can be securely and reliably linked across allthese domains, it will be possible to provide services that are individually optimized for each user and tovisualize various social issues by presenting data that can generate new value, thereby providing clues
toward solutions. In addition, since “mebuku ID” implements a “Dynamic Opt-in” function, such data
linkage can be implemented based on the substantial consent of users.
The “mebuku ID” is not only far more secure than other IDs, but is also highly regarded by many local
governments, companies, and organizations for its ability to link data across business operators, and for its
Dynamic Opt-in function that provides information of which business operators or service are eligible tolink the data.
Furthermore, “mebuku Pay,” Maebashi City’s electronic local currency, is scheduled to be launched in
December 2023 through “mebuku ID” and “mebuku App” (announced by Maebashi City and Mebuku
Ground Inc. in September 2023). “mebuku Pay” was designed and developed with the highest priority
placed on giving back to the local community by ensuring that payment data remains in the community and5is utilized locally. The Company believes that “mebuku ID” and “mebuku Pay” can be an effective means
to solve social issues, as they enable communities to reap the benefits of social and economic digitalization.
The Company is working toward its mission of transferring (communicating) data safely, securely, andconveniently. FPoS is a technology and operation that fulfills a core role in this mission.
As a result of the above, the Group’s consolidated net revenue for the six months ended September 30, 2023
was 3,503 million yen, an increase of 740 million yen (up 26.8%) compared to the six months ended September
30, 2022 (hereinafter referred to as the “same period of the previous year”). This was because of the growth of
the flat-rate or semi-flat-rate voice services centered on “Nihon Tsushin SIM” in the MVNO Business (up 18.0%
from the same period of the previous year) and the growth of the voice services of partner brands in the Enabler
Business (up 36.9% from the same period of the previous year).
Cost of revenue was 1,960 million yen, an increase of 383 million yen (up 24.3%) compared to the same periodof the previous year. This was mainly due to an increase in mobile network procurement costs associated withthe growth of “Nihon Tsushin SIM.” Nevertheless, the increase in cost of revenue can be contained relative toincreases in net revenue, because the mobile networks of both data and voice communications procured by theCompany from NTT DOCOMO have been set not to exceed the amount of the appropriate costs under efficientmanagement plus appropriate profit.
As a result, gross profit was 1,542 million yen (1,185 million yen in the same period of the previous year),selling, general and administrative expenses was 1,010 million yen (891 million yen in the same period of theprevious year), and operating profit was 532 million yen (293 million yen in the same period of the previousyear).
During the three months ended June 30, 2023, a final judgment was rendered in a lawsuit between the Company
and Quanta Computer Inc. In conjunction with the finalization of the judgment, the Company recorded
extraordinary income of 363 million yen, resulting in profit attributable to owners of parent of 819 million yen(301 million yen in the same period of the previous year).
Financial results by business are as follows:
Net revenue

For six months ended For six months ended
Year-on-year change
September 30, 2022 September 30, 2023

(Millions of yen)
Year-on-year change(%)

MVNO Business

1,477

1,743

266

18.0

Enabler Business

1,285

1,759

474

36.9

Total

2,762

3,503

740

26.8

Revenue of 53 million yen (67 million yen in the same period of the previous year) from overseas operations inthe segment information is included in the Enabler Business.
(2) Explanation on financial position(i) Assets, liabilities, and net assets
AssetsCurrent assets at the end of the current second quarter were 2,914 million yen, an increase of 602 million yen
compared to the end of the previous year. This was mainly due to an increase of 586 million yen in cash anddeposits and an increase of 20 million yen in accounts receivable - other. Non-current assets were 785 million
yen, an increase of 57 million yen compared to the end of the previous year. This was mainly due to increasesof 45 million yen in property, plant and equipment and 16 million yen in intangible assets.
As a result, total assets amounted to 3,700 million yen, an increase of 659 million yen compared to the end of
the previous year.
Liabilities
Current liabilities at the end of the current second quarter were 1,225 million yen, a decrease of 200 million yen
compared to the end of the previous year. This was mainly due to a decrease of 287 million yen in valuation
6

reserve for inventory purchase commitments while there were increases of 30 million yen in accounts payable- other, 39 million yen in income taxes payable, and 15 million yen in deposits received. Non-current liabilities
were 136 million yen, an increase of 56 million yen compared to the end of the previous year. This was mainly
due to an increase of 43 million yen in lease liabilities.
As a result, liabilities amounted to 1,361 million yen, a decrease of 144 million yen compared to the end of theprevious year.
Net assets
Net assets at the end of the current second quarter were 2,338 million yen, an increase of 804 million yen
compared to the end of the previous year. This was mainly due to recording 819 million yen in profit attributableto owners of parent.
As a result, the equity ratio was 59.8% (46.1% at the end of the previous year).
(ii) Status of cash flows
Cash and cash equivalents at the end of the six months ended September 30, 2023 were 2,167 million yen, an
increase of 586 million yen compared to the end of the previous year.
The status of cash flows and their factors during the six months ended September 30, 2023 are as follows.
Cash flows from operating activities
Net cash provided by operating activities totaled 638 million yen (an inflow of 250 million yen in the same
period of the previous year). This was mainly due to the recording of a reversal of valuation reserve for inventory
purchase commitments of 287 million yen, a decrease in trade payables of 21 million yen, an increase inaccounts receivable - other of 20 million yen and a decrease in unearned revenue of 12 million yen, despite
recording profit before income taxes of 934 million yen.
Cash flows from investing activities
Net cash used in investing activities totaled 44 million yen (an outflow of 75 million yen in the same period of
the previous year). This was due primarily to payments for purchase of property, plant and equipment of 16
million yen and purchase of intangible assets of 35 million yen.
Cash flows from financing activities
Net cash used in financing activities totaled 11 million yen (there were no cash flows from financing activities
in the same period of the previous year). This was mainly due to an outflow of 8 million yen for the purchaseand cancellation of share acquisition rights.
(3) Explanation on future forecast information such as consolidated business forecast
Since its founding in 1996, the Company has propounded and implemented the MVNO business model, an
innovative form of telecommunications business, having developed its business with the mission of transferring(communicating) data safely, securely, and conveniently. Specifically, the Company is engaged in threebusinesses: mobile communications business (SIM business), communications business through local mobile
networks (local 4G/5G), and digital ID (FPoS: Fintech Platform over SIM) business for use on smartphones.
The Company plans to ensure a stable revenue base with continuous evolution in the SIM business and to invest
the revenue in the local 4G/5G business and FPoS business in order to develop them into pillars of future
earnings. In the local 4G/5G business, the Company aims to build advanced showcases in the U.S. and leverage
this experience to expand in Japan. In the FPoS business, the Company has acquired a certification under the
Digital Signature Act for “my Digital Certificate” (issued by my FinTech Inc., a subsidiary of the Company)
based on its patented FPoS technology, and develops the “my Digital Certificate” to be actually utilized as asafe, secure, and convenient digital ID that can be used on smartphones.

7

Considering the factors described above, one of the Company’s management priorities is to grow the scale ofits business to a market capitalization of 500 billion yen in three to five years from the launch of the commercial
service of FPoS.

8

Quarterly consolidated financial statements
Quarterly consolidated balance sheets(Thousands of yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Accounts receivable - trade
Merchandise
Supplies
Accounts receivable - other
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings
Accumulated depreciation
Buildings, net
VehiclesAccumulated depreciation
Vehicles, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
Leased assets
Accumulated depreciation
Leased assets, net
Construction in progress
Total property, plant and equipment
Intangible assets
Patent right
Trademark right
Software
Software in progress
Total intangible assets
Investments and other assets
Investment securities
Leasehold and guarantee deposits
Other
Total investments and other assets
Total non-current assets
Total assets

9

As of September 30, 2023

1,580,619
576,323
75,46265
103
83,011△3,1382,312,448

2,167,204
542,344
80,95345
20,750107,502△3,9392,914,861

106,085△84,942
21,142
7,027△5,596
1,430
876,556△773,909
102,647
285,882△266,737
19,144－
144,365

108,171△86,964
21,206
11,021△6,277
4,743
918,756△823,593
95,162
342,537△275,259
67,278
1,056
189,447

4,727
3,229
264,297
9,752
282,007

5,377
3,529
262,784
27,019298,711

128,570
133,884
39,228
301,683
728,056
3,040,504

138,501
116,31042,420297,231785,390
3,700,251

(Thousands of yen)
As of March 31, 2023
Liabilities
Current liabilities
Accounts payable - trade
Accounts payable - other
Income taxes payable
Unearned revenue
Deposits received
Valuation Reserve For Inventory PurchaseCommitments
Other
Total current liabilities
Non-current liabilities
Long-term accounts payable - other
Long-term unearned revenue
Lease liabilities
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Foreign currency translation adjustment
Total accumulated other comprehensive
incomeShare acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets

10

As of September 30, 2023

630,125
78,842
109,651
120,872
66,559609,199
109,786
148,823
112,353
81,766287,979－

132,150
1,426,180

163,280
1,225,209

6,102
56,613
17,212
79,9281,506,108

11,87963,76460,464
136,108
1,361,318

535,822
224,109530,319△2,192
1,288,058

535,822233,952
1,349,859△2,192
2,117,442

114,472

96,699114,472

96,69996,21835,646
1,534,395
3,040,504

101,839
22,951
2,338,933
3,700,251

Quarterly consolidated statements of income and quarterly consolidated statements of comprehensive income
Quarterly consolidated statements of income(Thousands of yen)Six months ended
September 30, 2022
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Foreign exchange gains
Share of profit of entities accounted forusing equity method
Recoveries of written off receivables
Miscellaneous income
Total non-operating income
Non-operating expenses
Interest expenses
Amortization of share issuance costs
Amortization of bond issuance costs
Miscellaneous losses
Total non-operating expenses
Ordinary profit
Extraordinary income
Compensation for damage income
Reversal of provision for valuation reservefor inventory purchase commitments
Total extraordinary income
Profit before income taxes
Income taxes - current
Total income taxes
ProfitLoss attributable to non-controlling interests
Profit attributable to owners of parent

11

Six months ended
September 30, 2023

2,762,949
1,577,123
1,185,825
891,984
293,841

3,503,525
1,960,639
1,542,886
1,010,210
532,675

4
33,611

7
21,603

7,571

9,930

－
1,792
42,9805,990
1,681
39,212

286
312
1,057
92
1,747
335,074

671
－
－
208
880
571,008－※１ 75,869－※２ 287,979－
335,074
53,64953,649281,424△19,699
301,123

363,848934,857
128,011
128,011806,845△12,695
819,540

(Thousands of yen)
2nd quarter ended
September 30, 2022
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Foreign exchange gains
Share of profit of entities accounted forusing equity method
Recoveries of written off receivables
Miscellaneous income
Total non-operating income
Non-operating expenses
Interest expenses
Amortization of share issuance costs
Amortization of bond issuance costs
Miscellaneous losses
Total non-operating expenses
Ordinary profit
Profit before income taxes
Income taxes - current
Total income taxes
ProfitLoss attributable to non-controlling interests
Profit attributable to owners of parent

12

2nd quarter ended
September 30, 2023

1,409,187
809,888599,299
463,866
135,432

1,788,248
1,009,877
778,370
512,783
265,587

4
12,370

7
7,683

6,249

3,257

－
774
19,398

5,990
1,022
17,960

33
95
528
55
712
154,118
154,118
24,39324,393
129,725△10,034
139,759

458
－
－
16
475
283,072
283,072
62,05862,058221,014△1,396
222,410

Quarterly consolidated statements of comprehensive income(Thousands of yen)Six months ended
September 30, 2022
ProfitOther comprehensive income
Foreign currency translation adjustment
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to ownersof parent
Comprehensive income attributable to noncontrolling interests

13

Six months ended
September 30, 2023

281,424

806,845△29,651△29,651
251,773△17,772△17,772
789,072

271,472

801,767△19,699△12,695

(Thousands of yen)
2nd quarter ended
September 30, 2022
ProfitOther comprehensive income
Foreign currency translation adjustment
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to ownersof parent
Comprehensive income attributable to noncontrolling interests14

2nd quarter ended
September 30, 2023

129,725

221,014△11,645△11,645
118,079△6,556△6,556
214,457

128,114215,853△10,034△1,396

Quarterly consolidated statement of cash flows(Thousands of yen)Six months ended
September 30, 2022
Cash flows from operating activities
Profit before income taxes
Depreciation
Interest and dividend income
Interest expenses
Share of loss (profit) of entities accounted
for using equity method
Foreign exchange losses (gains)
Reversal of provision for valuation reservefor inventory purchase commitments
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Decrease (increase) in accounts receivable other
Increase (decrease) in unearned revenue
Increase (decrease) in Long-term unearned
revenue
Increase/decrease in consumption taxes
payable/consumption taxes refund receivable
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Compensation for damage income
Net cash provided by (used in) operating
activities
Cash flows from investing activities
Purchase of property, plant and equipment
Purchase of intangible assets
Proceeds from refund of leasehold andguarantee deposits
Payments of leasehold and guarantee deposits
Net cash provided by (used in) investing
activities
Cash flows from financing activities
Payments for retirement by purchase of shareacquisition rights
Repayments of lease liabilities
Net cash provided by (used in) financing
activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of
periodCash and cash equivalents at end of period15

Six months ended
September 30, 2023

335,074
17,998△4286

934,857
63,632△7671△7,571△9,930△35,263△22,470－△287,979△73,711△9,21012,111

36,083△2,459△21,733

35△20,647△6,116△12,438

4,083

364

△38,808△6,536

79,045277,949
4△67△27,838－

19,503670,9087△671△107,283
75,869250,047

638,831△16,673△57,753△16,229△35,177

3,013

7,528

△3,650△151△75,065△44,029－△8,529－△3,365－△11,895

4,967

3,678

179,950

586,584928,688

1,580,619

1,108,638

2,167,204