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 Six Months Ended September 30, 2023
(Based on Japanese GAAP)
November 10, 2023
Company name:
SUNCALL CORPORATION
Stock exchange listing: Tokyo
Stock code:
Representative:

5985
URL https://www.suncall.co.jp
Representative Director
Tadao Otani
Director and Senior Managing ExecutiveOfficer,Inquiries:

Chief Operating Officer Management andGeneral Manager of Division,

Masatoshi Kanada

TEL075-881-5280

Corporate Planning & Management Division
Scheduled date to file Quarterly Securities Report:
November 10, 2023
Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:

December 8, 2023
Yes

Holding of quarterly financial results meeting:Yes(for institutional investors and analysts)(Amounts less than one million yen are rounded down)
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 sales
Six months ended September 30, 2023
Six months ended September 30, 2022
Note: Comprehensive income

Millions of yen
25,16926,813

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen%
(6.1)
(1,406)–(834)
–
(681)
–
14.1
471
(1.1)
882
35.6
572
25.7

For the six months ended September 30, 2023

¥1,230 million [(30.5)%]

For the six months ended September 30, 2022

¥1,770 million [147.0%]

Earnings per share

Diluted earnings per share

Yen(22.66)
19.05

Six months ended September 30, 2023
Six months ended September 30, 2022

Yen–
19.01

(2) Consolidated financial position
Total assets
As of September 30, 2023
As of March 31, 2023
Reference: Equity

Net assets

Millions of yen
65,912
63,735Equity ratio

Millions of yen
39,01438,038

As of September 30, 2023

¥38,996 million

As of March 31, 2023

¥38,020 million

Net assets per share%
59.2
59.7Yen
1,295.67
1,264.63

2. Cash dividends
Annual dividends per share

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

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
11.00
10.00

Yen–

Yen
9.00

Yen
20.00

–

10.00

20.00

Year ending March 31, 2024 (Forecast)
Note: Revisions to the forecasts of cash dividends most recently announced: None

1Total3. Forecast of consolidated financial results for the year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)
Net sales
Full yearMillions of yen
52,000Percentages 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
(2.6)
(2,600)–(2,100)–(1,600)–(53.18)

Note: Revisions to the forecast of financial results most recently announced: Yes
4. Notes(1) Changes in significant subsidiaries during the six months ended September 30, 2023
(changes in specified subsidiaries resulting in the change in scope of consolidation):(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

NoNo(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:

No
No

Changes 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 September 30, 2023

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 September 30, 2023

3,960,512 shares As of March 31, 2023

3,993,335 shares

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

30,079,831 shares Six months ended September 30, 2022

30,032,778 shares

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 September 30, 2023

309,350 shares

As of September 30, 2022

342,210 shares)* Quarterly financial results reports are exempt from quarterly review 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.

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

As of September 30, 2023

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

7,707
10,941

7,181
11,652Merchandise and finished goods
Work in process

3,840
2,983

3,901
3,302

Raw materials and supplies
Other

3,990
1,986

4,109
1,441

Total current assets

31,44931,588

5,844
10,840

6,008
11,144Non-current assets
Property, plant and equipment
Buildings and structures, netMachinery, equipment and vehicles, net
Other, net

6,316

6,504

Total property, plant and equipment

23,001

23,658

344

362

6,761

8,072

2,179

2,230

Intangible assets
Investments and other assets
Investment securities
Other
Total investments and other assets

8,940

10,30232,28634,32363,73565,912

7,103
7,952

6,795
9,724

Current portion of long-term borrowings
Income taxes payable

526
152

368
171

Provision for bonuses for directors (and other officers)
Provision for bonuses

–433

23
487

Other

5,156

4,987

Total current liabilities

21,32422,558Long-term borrowings
Retirement benefit liability

2,123
1,132

2,172
1,159

Provision for share awards
Other

125
990

129877

Total non-current liabilities

4,372

4,338

25,696

26,897

Total non-current assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings

Non-current liabilities

Total liabilities

3

(Millions of yen)
As of March 31, 2023

As of September 30, 2023

Net assets
Shareholders' equity
Share capital

4,808

4,808

Capital surplus
Retained earnings

2,833
27,1692,833
26,214

Treasury shares(1,684)(1,666)

Total shareholders' equity

33,12632,189Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

2,761
10

3,632
16

Foreign currency translation adjustment
Remeasurements of defined benefit plans

1,465
656

2,524
634

Total accumulated other comprehensive income

4,894

6,807

Accumulated other comprehensive income

Share acquisition rights
Total net assets
Total liabilities and net assets

4171738,038

39,01463,73565,912

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)Six months ended

Six months ended

September 30, 2022

September 30, 2023

Net sales
Cost of sales

26,81323,62525,16923,799Gross profit

3,188

1,369

357

322

Remuneration, salaries and allowances
Provision for bonuses for directors (and other officers)

684
30

752
23

Provision for bonuses
Retirement benefit expenses

89
43

88
43

Other

1,512

1,545

Total selling, general and administrative expenses

Selling, general and administrative expenses
Transportation and storage costs

2,717

2,776

Operating profit (loss)

471(1,406)

Non-operating income
Dividend income

7773

Gain on sale of goods
Share of profit of entities accounted for using equity method

91
28849

Foreign exchange gains
Other245
46400
82

Total non-operating income

464

693

Non-operating expenses
Interest expenses

52

113

Other

08

Total non-operating expenses

53

121882(834)Gain on sale of investment securities
Insurance claim income––

7115

Profit on cansellation of leases
Other

2220
1

Total extraordinary income

25124

Extraordinary losses
Loss on sale of non-current assets

00

Loss on abandonment of non-current assets
compensation expenses

10–

22119

Other

0–

Ordinary profit (loss)
Extraordinary income

Total extraordinary losses

10141

Profit (loss) before income taxes

897(851)

Income taxes - current
Income taxes - deferred236
88295(464)

Total income taxes

325

(169)

Profit (loss)

572(681)

Profit (loss) attributable to owners of parent572(681)5Consolidated statements of comprehensive income (cumulative)(Millions of yen)

Profit (loss)
Other comprehensive income

Six months ended

Six months ended

September 30, 2022

September 30, 2023
572

(681)

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

(431)
(1)

870
–

Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax

1,625
(12)

1,088
(21)

18

(24)

1,198

1,912

1,770

1,230

1,770

1,230––

Share of other comprehensive income of entities accounted
for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

6

Consolidated statements of cash flows(Millions of yen)Six months ended

Six months ended

September 30, 2022

September 30, 2023

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

897(851)

Depreciation
Increase (decrease) in provisions

1,963
117

2,028
81

Increase (decrease) in retirement benefit liability
Decrease (increase) in retirement benefit asset(1)2825(46)

Interest and dividend income
Interest expenses(83)
52(108)113

Share of loss (profit) of entities accounted for using equity
method(2)(49)

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

10–22(7)Decrease (increase) in trade receivables
Decrease (increase) in inventories

(907)
(881)

(442)
106

Increase (decrease) in trade payables
Other, net

1,123
138

(463)
775

Subtotal

2,453

1,184

Interest and dividends received
Interest paid

83(55)

108(127)

Income taxes paid
Income taxes refund(336)
67(298)1

Net cash provided by (used in) operating activities

2,213869(1,434)(2,537)2(1,719)

1––(25)15(63)–0(33)
0(3,176)(2,617)

Cash flows from investing activities
Purchase of non-current assets
Proceeds from sale of non-current assets
Purchase of shares of subsidiaries and associates
Proceeds from sale of investment securities
Loan advances
Net decrease (increase) in time deposits
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activitiesNet increase (decrease) in short-term borrowings

443

1,485

Repayments of lease liabilities
Proceeds from long-term borrowings

(106)
80

(98)
157

Repayments of long-term borrowings
Dividends paid

(354)
(333)

(343)
(273)

0(0)

4(0)

Net cash provided by (used in) financing activities

(270)

932

Effect of exchange rate change on cash and cash equivalents

669

252

Proceeds from disposal of treasury shares
Purchase of treasury shares

Net increase (decrease) in cash and cash equivalents

(563)

(563)

Cash and cash equivalents at beginning of period7,510

7,707

Cash and cash equivalents at end of period

6,947

7,144

7