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.

UNITED, Inc.
Consolidated Financial Report For the 1st Quarter of FY 2024
(Japanese Accounting Standards)
August 7, 2024
Company name:
Stock code:
Representative:
Contact:
Tel:

UNITED, Inc.
Stock exchange listing:
2497
URL:
Tomonori Hayakawa, CEO
Yuji Yamashita, Director and General Manager of Corporate Administration Division+81-3-6821-0000

Scheduled date for filing of quarterly securities report:
Scheduled date of commencement of dividend payment:
Supplementary documents for quarterly results:
Quarterly results briefing:

Tokyo Stock Exchange
https://united.jp/

August 7, 2024―
YesYes( For institutional investors and securities analysts)(Amounts of less than one million yen are rounded down)

1.Financial Highlights(1) Results of Operations(Percentages are shown as year-on-year changes)
Net sales

Operating profit

Profit attributableto owners of the parent

Ordinary profit

Mil.¥%

Mil.¥%

Mil.¥%

Mil.¥%

1st Quarter of FY 2024

4,711△34.8

2,922

△45.5

2,898

△46.0

1,929

△47.6

1st Quarter of FY 2023

7,22451.3

5,361

71.6

5,366

71.7

3,685

53.6

(Note) Comprehensive income :1st Quarter of FY 2024△300 Mil.¥ (―%)

1st Quarter of FY 2023

△58 Mil.¥ (―%)

Profitper share (basic)

Profitper share (diluted)
Yen

Yen

1st Quarter of FY 2024

49.22

49.19

1st Quarter of FY 2023

94.31

94.30

(2) Financial Position
Total assets

Net assets

Equity ratioMil.¥

Mil.¥

%

24,852

22,35889.0

26,74523,54087.2

1st Quarter of FY 2024(As of June 30, 2024)
FY 2023(As of March 31, 2024)(Reference) Shareholder's Equity :1st Quarter of FY 2024

22,130 Mil.¥FY 2023

23,310 Mil.¥

2.Dividend Per Share
End of 1stQuarterEnd of 2ndQuarterEnd of 3rdQuarter

Year-end

Annual

Yen

Yen

Yen

Yen

Yen

FY 2023

―

24.00

―

24.00

48.00

FY 2024―24.00

―

24.00

48.00

FY 2024(Forecasted)(Note) Revisions to dividend forecasts published most recently : None3. Forecasts of consolidated results of operations for FY 2024
(Percentages show year-on-year changes)

Net salesMil.¥

Operating profit％Mil.¥

9,400～ △25.2～10,300△18.1

FY 2024

Profit attributable toowners of the parent

Ordinary profit

％

Mil.¥

2,000～ △58.8～2,500△48.6％％

Mil.¥

1,150～ △51.4～
1,500
△36.6

29.00～38.50

Mil.¥2,000～ △58.6～
2,500
△48.2

Profit per share(Note) Revisions of the forecasts of consolidated results since the latest announcement : None*Notes(1) Significant changes in scope of consolidation：

No(2) Application of particular accounts procedures to the preparation of quarterly consolidated：

No(i) Changes in accounting policies caused by revision of accounting standards：

Nofinancial statement(3) Changes in accounting policies and changes or restatement of accounting estimates(ii) Changes in accounting policies other than (i)：No(iii) Changes in accounting estimates：No(iv) Restatement：

No(4) Number of shares issued (common stock)(i)

Number of shares issued at end of the year
1st Quarter of FY 2024

40,412,690 shares

FY 2023

40,412,690 shares

1st Quarter of FY 2024

1,206,963 shares

FY 2023

1,204,628 shares

1st Quarter of FY 2024

39,206,701 shares

1st Quarter of FY 2023

39,076,892 shares(including treasury shares)(ii)

Number of treasury shares issued
at end of the year(iii) Number of average shares outstanding
during the term
*Status of a quarterly review- Quarterly consolidated financial results are not subject to a quarterly review by certified public accountants or audit corporations*Explanations and other special notes concerning the appropriate use of business results forecasts- Descriptions regarding the future are estimated based on the information that the Company is able to obtain at thepresent point in time and assumptions which are deemed to be reasonable. However, actual results may be different
due to various factors.
- The video of the financial results briefing for the 1st Quarter of FY 2024 will be delivered to institutional investors and analysts
via our website. The materials used in this video will be available on our website.

UNITED Consolidated Financial Statements(1) UNITED Consolidated Balance Sheetfor the 1st Quarter of FY 2024
Items of an accountFY 2023(As of March 31, 2024)
Amount(Unit : Thousands of Yen)
1st Quarter of FY 2024
(As of June 30, 2024)
AmountAssets
Current assets
Cash and deposits
Accounts receivable - trade

12,985,094

14,195,374

967,929

797,818

7,836,613

7,171,641

Inventories

33,44055,753

Derivatives

2,263,379-

Operational investment securities

Other

308,220

328,226

Allowance for doubtful accounts△15,324△15,248

24,379,354

22,533,565

277,181

267,770

Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Goodwill

76,90770,799Other299,908

327,549

Total intangible assets

376,815398,349

Investments and other assets

1,711,728

1,652,970

Total non-current assets

2,365,725

2,319,090

26,745,079

24,852,656

Accounts payable - trade712,498

618,221

Short-term borrowings

100,000

100,000

Total assets
Liabilities
Current liabilities

Current portion of long-term borrowings

6,370

6,370

Income taxes payable

650,519

976,670

Other594,075

660,987

2,063,463

2,362,250

Long-term borrowings

51,43049,960

Deferred tax liabilities

1,089,681

81,904

Total non-current liabilities

1,141,111

131,864

3,204,575

2,494,114

Share capital

2,923,019

2,923,019

Capital surplus

452,447

513,461Retained earnings

18,413,837

19,402,600

Treasury shares△963,119△963,123

Total shareholders' equity

20,826,184

21,875,957

914,162

254,609

Total current liabilities
Non-current liabilities

Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

1,570,333-

Total accumulated other comprehensive income

2,484,495

254,609

Share acquisition rights

210,665

210,665

Non-controlling interests

19,15817,30823,540,504

22,358,541

26,745,079

24,852,656

Total net assets
Total liabilities and net assets

(2) UNITED Consolidated Statement of Income
for the 1st Quarter of FY 2024
Items of an accountNet sales(Unit : Thousands of Yen)
1st Quarter of FY 2024
(April 1, 2024
to June 30, 2024)
Amount

1st Quarter of FY 2023
(April 1, 2023
to June 30, 2023)
Amount7,224,561

4,711,818

Cost of sales

982,848

983,586

Gross profit

6,241,713

3,728,231

Selling, general and administrative expenses
Operating profit

880,112805,553

5,361,600

2,922,678

Non-operating income
Interest income
Foreign exchange gains
Gain on forfeiture of unclaimed dividends

08,250

3,636

941

210

848

Gain on valuation of crypto assets

1,454-

Other

3,099

3,215

Total non-operating income

8,402

13,255Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity method

466

518

1,786

5,141

Non-deductible consumption tax-

2,602

Incentive payment-

26,131-

1,462

Loss on valuation of crypto assets
Other

1,066

1,394

Total non-operating expenses

3,319

37,251

5,366,682

2,898,683

Gain on step acquisitions-492

Total extraordinary income-492

Loss on valuation of investment securities-

50,768

Total extraordinary losses-

50,768

Profit before income taxes

5,366,682

2,848,407

Income taxes - current

1,696,861

930,762

Income taxes - deferred△12,775△11,261

Total income taxes

1,684,085

919,500

Profit

3,682,597

1,928,906△2,861△850

3,685,458

1,929,756

Ordinary profitExtraordinary income

Extraordinary losses

Loss attributable to non-controlling interests
Profit attributable to owners of parent(3) UNITED Consolidated Statement of Comprehensive Income
for the 1st Quarter of FY 2024

(Unit : Thousands of Yen)
1st Quarter of FY 2023
Items of an account

Profit

1st Quarter of FY 2024

(April 1, 2023

(April 1, 2024

to June 30, 2023)

to June 30, 2024)

AmountAmount

3,682,597

1,928,906

Other comprehensive income
Valuation difference on available-for-sale securities△2,021,563△659,552

Deferred gains or losses on hedges△1,719,530△1,570,333

Total other comprehensive income△3,741,094△2,229,885△58,496△300,979△61,357△301,829

2,861

850

Comprehensive income
Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests