Note: This document has been translated from the Japanese original as submitted to the Tokyo Stock Exchange for reference
purposes only. In the event of any discrepancy, the original release in Japanese shall prevail.

August 13, 2024

Consolidated Financial Results
for the Fiscal Year Ended June 30, 2024
(under Japanese GAAP)
Company name: SUNNY SIDE UP GROUP Inc.
Listing:
Tokyo Stock Exchange
Securities code:
2180
URL:
https://ssug.co.jp
Representative:
Etsuko Tsugihara, President
Inquiries:
Atsuya Otake, Executive Officer, General Manager of Corporate Management
TEL:+81-3-6894-3233
Scheduled date of annual general meeting of shareholders
September 25, 2024
Scheduled date to commence dividend payments:
September 26, 2024
Scheduled date to file Annual Securities Report:
September 26, 2024
Preparation of supplementary material on financial results:
Yes
Holding of financial results presentation meeting:Yes (for individual investors)(Figures shown are rounded down to the nearest million yen)

1. Consolidated financial results for the fiscal year ended June 30, 2024 (from July 1, 2023 to June30, 2024)(1) Consolidated operating results(Percentages show year-on-year changes)

Net sales
Fiscal year ended
June 30, 2024
June 30, 2023

Operating profit

Millions of yen

17,90818,956(Note) Comprehensive income% Millions of yen

(5.5)
17.1

% Millions of yen

13.0
68.9

For the fiscal year ended June 30, 2024
For the fiscal year ended June 30, 2023

Basic earnings per
share
Fiscal year ended
June 30, 2024
June 30, 2023

1,465
1,296

Profit attributable toowners of parent

Ordinary profit

Diluted earnings per
share% Millions of yen

1,501
1,335

12.5
4.0

795
884

%

(10.1)
52.2¥717 million [(37.4)%]¥1,145 million [119.8%]
Ratio ofordinary profit
to total assets

Return on
equityRatio ofoperatingprofit to net
sales

Yen

Yen

%

%

%

53.30
59.28

53.23
–

21.1
28.3

17.6
16.5

8.1
6.8

(Reference) Share of profit (loss) of entities accounted for using equity method
For the fiscal year ended June 30, 2024
¥3 million
For the fiscal year ended June 30, 2023¥(4) million- 1 -(2) Consolidated financial position
Total assets
As ofJune 30, 2024
June 30, 2023

Net assets

Equity ratio

Net assets per share

Millions of yen

Millions of yen

%

Yen

8,472
8,595

4,136
3,728

46.9
41.4

266.20238.78Cash flows fromfinancing activities

Cash and cash
equivalents at end of
period(Reference) Equity
As of June 30, 2024
As of June 30, 2023

¥3,971 million¥3,561 million(3) Consolidated cash flows
Cash flows fromoperating activities
Fiscal year ended
June 30, 2024
June 30, 2023

Cash flows frominvesting activities

Millions of yen

Millions of yen

Millions of yen

Millions of yen

655
846

(120)
(274)

(470)
(744)

3,169
3,074

2. Dividends
Annual dividends
1st quarter2nd
3rd
end
quarter-end quarter-end

Fiscal year ended
June 30, 2023
Fiscal year ended
June 30, 2024
Fiscal year ending
June 30, 2025
(Forecast)Fiscalyear-end

Total

Total cash
dividends(Total)Payoutratio(Consolidated)

Ratio ofdividends
to netassets(Consolidated)

Yen

Yen

Yen

Yen

Yen

Millions of
yen

%

%

–

0.00

–

15.00

15.00

223

25.3

6.3

–

5.00

–

15.00

20.00

298

37.5

7.6

–

7.00

–

15.00

22.00

34.2

3. Consolidated earnings forecasts for the fiscal year ending June 30, 2025 (from July 1, 2024 toJune 30, 2025)
Net sales

Fiscal year ending
June 30, 2025

(Percentages show year-on-year changes)
Basic
Profit attributable toOrdinary profit
earnings perowners of parent
share

Operating profit

Millions ofyen%Millions ofyen%Millions ofyen%Millions of
yen

%

Yen

18,500

3.3

1,650

12.6

1,660

10.6

960

20.7

64.34

- 2 -

* Notes(1) Significant changes in the scope of consolidation during the period: Yes
Excluded: 3 companies(company names: Wise Integration Co., Ltd., Scramble Inc. and Agile Co., Ltd.)(2) Changes in accounting policies, changes in accounting estimates, and restatement of prior period
financial statements after error corrections
a. Changes in accounting policies due to revisions to accounting standards and other regulations:Noneb. Changes in accounting policies due to other reasons: Nonec. Changes in accounting estimates: None
d. Restatement of prior period financial statements after error corrections: None
(3) Number of issued shares (common shares)
a. Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2024
As of June 30, 2023

15,197,600 shares
15,191,600 sharesb. Number of treasury shares at the end of the period
As of June 30, 2024
As of June 30, 2023

277,456 shares
277,456 sharesc. Average number of shares outstanding during the period
Fiscal year ended June 30, 2024
Fiscal year ended June 30, 2023

14,917,661 shares
14,920,807 shares* 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(Caution concerning forward-looking statements)
The forward-looking statements, including earnings forecasts, contained in these materials are based on
information currently available to the Company and on certain assumptions deemed to be reasonable.
Consequently, any statements herein do not constitute assurances regarding actual results by theCompany. Actual business and other results may differ substantially due to various factors.
(Means of access to supplementary material on financial results)
The supplementary material on financial results will be available on the Company’s website.
(Financial results presentation meeting)
The Company is scheduled to hold a financial results presentation meeting for individual investors on
Saturday, August 24, 2024.

- 3 -Consolidated Financial Statements(1) Consolidated balance sheet(Thousands of yen)
As of June 30, 2023
AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Accounts receivable - trade
Merchandise and finished goods
Costs on service contracts in progress
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net
Leased assets
Accumulated depreciation
Leased assets, net
Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Leasehold and guarantee deposits
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets- 4 -As of June 30, 2024

3,089,935
22,0932,620,516
4,573
551,986
25,083
314,635(6,243)6,622,581

3,185,218
97,2372,494,086
1,688
306,880
24,523447,779(7,786)
6,549,627

899,897(635,413)
264,484
14,437(6,710)7,726
182,746(136,781)
45,964250,096(205,963)
44,133362,309

1,075,551(687,013)
388,537
11,502(6,348)5,153
182,746(143,834)
38,911
268,986(225,717)
43,269475,872

276,121
24,231
300,352

234,702
16,371251,074

483,326
6,891
175,020
461,433
229,197(45,713)
1,310,155
1,972,817
8,595,398

304,8225,022
281,763
548,084
109,385(52,743)
1,196,334
1,923,281
8,472,908

(Thousands of yen)
As of June 30, 2023
Liabilities
Current liabilities
Accounts payable - trade
Short-term borrowings
Current portion of long-term borrowings
Lease liabilities
Income taxes payable
Provision for bonuses for directors (and otherofficers)
Provision for bonuses
Accrued expenses
Contract liabilities
Asset retirement obligations
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Lease liabilities
Deferred tax liabilities
Asset retirement obligations
Other
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
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Total accumulated other comprehensive income
Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets- 5 -As of June 30, 2024

1,989,016
586,000
181,491
5,758
181,173

1,515,564
236,000
157,381
5,741
382,421

153,255

139,900–
521,893
212,403–269,994
4,100,987

307,495
286,407
163,451
32,991135,079
3,362,433

411,109
34,382
8,662
99,107
212,874
766,136
4,867,123

563,416
28,7401,237
153,295
227,348
974,038
4,336,472

547,764
696,127
2,247,658(130,456)
3,361,094

550,551
698,9142,744,514(130,456)
3,863,524

222,920164(22,960)
200,124
143,559
23,496
3,728,275
8,595,398

140,12217(31,900)
108,238
127,357
37,316
4,136,436
8,472,908

(2) Consolidated statement of income(Thousands of yen)
Fiscal year ended
June 30, 2023
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Foreign exchange gains
Dividend income
Share of profit of entities accounted for using equity
methodOutsourcing service income
Subsidy income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity
methodDistributions of profit or loss on silent partnerships
Customs duties for prior periods
Rental expenses on facilities
Provision of allowance for doubtful accounts
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on liquidation of investments in capitalGain on sale of shares of subsidiaries
Gain on sale of investment securities
Gain on reversal of share acquisition rights
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Loss on sale of non-current assets
Bad debts expenses
Loss on valuation of investment securities
Loss on sale of investments in capital of subsidiaries
Loss on valuation of investments in capital
Loss on sale of shares of subsidiaries and associates
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit (loss) attributable to non-controlling interests
Profit attributable to owners of parent- 6 -Fiscal year ended
June 30, 2024

18,956,914
14,804,858
4,152,056
2,855,314
1,296,741

17,908,253
13,671,925
4,236,327
2,770,910
1,465,417

148
–
1,549

168
23,037––

3,891

20,07259,70620,010101,488

23,99912,00011,682
74,779

8,169

5,345

4,833

–

–
18,96519,822–
11,30063,0891,335,139

4,536
15,485
–
6,700
6,746
38,813
1,501,382

3,793
18,206–2,564–
24,563

7,821–
37,88045,828
11,661
103,190

171
744
1,727
104,981
29,342
33,717
8,647
179,332
1,180,371
407,963(110,769)
297,193883,177(1,435)
884,6122,915––
55,349–101,279–
159,545
1,445,028
709,723(73,682)
636,040
808,987
13,819795,167(3) Consolidated statement of cash flows(Thousands of yen)
Fiscal year ended
June 30, 2023
Cash flows from operating activities
Profit before income taxes
Depreciation
Amortization of goodwill
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for bonuses for
directors (and other officers)
Interest and dividend income
Interest expenses
Share of loss (profit) of entities accounted for using
equity method
Loss (gain) on sale of investments in capital ofsubsidiaries
Loss (gain) on sale of shares of subsidiaries
Loss (gain) on sale of shares of subsidiaries andassociates
Foreign exchange losses (gains)
Subsidy income
Outsourcing service income
Loss (gain) on sale and retirement of non-current assets
Loss on retirement of non-current assets
Loss (gain) on sale of investment securities
Loss (gain) on valuation of investment securities
Gain on liquidation of investments in capital
Loss on valuation of investments in capital
Loss on transfer of receivables
Share-based payment expenses
Distributions of loss (profit) on silent partnerships
Gain on reversal of share acquisition rights
Customs duties for prior periods
Rental expenses on facilities
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Decrease (increase) in advance payments to suppliers
Decrease (increase) in other assets
Increase (decrease) in trade payables
Increase (decrease) in accounts payable - other
Increase (decrease) in accrued consumption taxes
Increase (decrease) in contract liabilities
Increase (decrease) in other liabilities
SubtotalInterest and dividends received
Interest paid
Proceeds from outsourcing service income
Income taxes paid
Subsidies received
Income taxes refund
Net cash provided by (used in) operating activities- 7 -Fiscal year ended
June 30, 2024

1,180,371
85,143
41,418(21,452)–

1,445,028
92,68141,418
8,573
307,495

24,183(13,355)(1,698)
8,169

(168)
5,345

4,833

(3,891)

29,342––(37,880)

8,647–(28,055)(59,706)(20,072)(3,049)171(2,564)
104,981(18,206)
33,717
97843,542
4,655–
18,96519,822(641,550)(263,925)
41,18939,880951,480(102,406)(95,921)
31,68365,617
1,480,183
16,598(9,020)20,072(742,983)
59,706
21,768846,327(25,976)(12,000)(23,999)(7,821)
2,915(45,828)
55,349–101,279–(3,378)
4,536(11,661)
15,485–(26,241)
248,523(114,382)(98,225)(421,817)(37,283)(79,936)(48,952)(238,732)
1,077,100
168(5,398)23,999(500,964)
12,00048,479655,385

(Thousands of yen)
Fiscal year ended
June 30, 2023
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Proceeds from sale of intangible assets
Proceeds from collection of loans receivable
Payments of leasehold and guarantee deposits
Proceeds from refund of leasehold and guarantee
deposits
Purchase of short-term and long-term investment
securities
Proceeds from sale of short-term and long-term
investment securities
Proceeds from share of profits on investments in capital
Payments for investments in capital
Payments for sale of shares of subsidiaries resulting inchange in scope of consolidation
Proceeds from sale of shares of subsidiaries andassociates
Purchase of golf club membership
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Purchase of treasury shares
Dividends paid
Repayments of lease liabilities
Proceeds from issuance of share acquisition rights
Proceeds from issuance of shares resulting fromexercise of share acquisition rights
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 period
Cash and cash equivalents at end of period- 8 -Fiscal year ended
June 30, 2024

(73,680)
3,269(15,477)375
1,869(5,428)(123,316)
20,037(7,115)–
1,869(82,594)673

166(23,805)–

8,960

49,6562,021(136,500)

51,750(20,010)(33,617)(10,746)

1,750–(5,355)(274,943)–(120,301)

48,000–(496,991)(100,007)(180,431)(15,037)–(300,000)
312,500(184,302)–(297,480)(5,659)
277

–

4,134

(744,468)(470,532)

32,84730,730(140,237)
3,214,372
3,074,135

95,282
3,074,135
3,169,418