Summary of Consolidated Financial Results for the First Quarter Ending of the Fiscal Year June 30, 2024 [Based on IFRS]
November 9, 2023
Company name: ZERO CO., LTD.
Stock code:
9028
URL: http://www.zero-group.co.jp/
Representative:
President & CEO
Inquiries:
Director and Manager of Group Strategies Headquarters
Scheduled Date of Submission of Quarterly Report:
November 10, 2023
Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:
No
Holding of quarterly financial results meeting:No

Stock Exchange Listing: Tokyo
Takeo Kitamura
Toshihiro Takahashi

TEL 044-520-0106(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the first quarter ending of the fiscal year June 30, 2024 (From July 1, 2023 to September 30, 2023)(1) Consolidated operating results (cumulative)(Percentages indicate year-on-year changes)
Sales revenue

Operating income

Profit before tax

Quarterly income

Profit attributable toequity shareholdersof the company
Millions%of yenMillions ofyen%Millions ofyen%Millions ofyen%Millionsof yen%1Q FY2023/2024

31,669△6.3

1, 124△6.0

1, 138

△5.4

723

△9.9

709

1Q FY2022/2023

33,78756.4

1, 196

90.7

1,203

88.8

803

109.0

798

Basic quarterly earnings per share

Total comprehensive
income of the quarter
Millionsof yen

%

△11.2

769

△14.0

103.2

894

293.6

Diluted quarterly earnings per share

Yen

Yen

1Q FY2023/2024

42.01

42.01

1Q FY2022/2023

47.43

47.42

(Note) The provisional accounting treatment for business combinations was finalized in the third quarter of the fiscal year ending June 2023. The figures for the firstquarter of the fiscal year ending June 2023 reflect the finalization of provisional accounting treatment.
(2) Consolidated financial position
Total assets

Equity attributable to equity
shareholders of the company

Total capital

Equity ratio attributable to equity
shareholders of the company

Millions of yen

Millions of yen

Millions of yen%

1Q FY2023/2024

57,59134,01733,43758.1

FY2022/2023

56,55833,83633,28558.9

2. Cash dividends
1st quarter-end

Annual dividends per share
3rd quarter-end

2nd quarter-end
Yen

FY2022/2023
FY2023/2024
FY2023/2024(forecast)

Yen

-----

15.00

Fiscal year-end

Yen

---

15.00

Total
Yen

Yen

36.00

51.00

36.90

51.90

(Note) Amendment from the most recently announced dividend forecast: No
3. Forecast of consolidated financial results for the year ending June 30, 2024 (From July 1, 2023 to June 30, 2024)

Sales revenue

Full year

Operating income(Percentages indicate year-on-year changes)
Profit attributable toequity shareholders
Basic earnings per shareof the company

Profit before tax

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

121,000

△8.9

5,200

2.5

5,200

2.4

3,500

1.8

207.64(Note) Revisions from the most recently released business forecast: No(Note)(1) Changes in significant subsidiary companies during the current quarter (Changes in the specific subsidiary companies following changes in the scope of
consolidation): No
New  Co. (Company name),
Exclusions  Co. (Company name)(2) Changes in accounting policies, changes in accounting estimates Changes in the accounting policies required by IFRS Changes in the accounting policies due to other reasons Changes in the accounting estimates(3) Number of issued shares (common shares)
 Total number of issued shares at the end of theperiod (including treasury shares)
 Number of treasury shares at the end of theperiod Average number of shares during the period(total up to this quarter)

:
:
:

No
No
No

1Q FY2023/2024

17,560,242 shares

FY2022/2023

17,560,242 shares

1Q FY2023/2024

956,982 shares

FY2022/2023

956,982 shares

1Q FY2023/2024

16,877,260 shares

1Q FY2022/2023

16,837,260 shares

Earnings summary is not within the scope of the quarterly review by a certified public accountant or auditor
Explanation of the proper use of financial results forecast and other notes
The earnings forecast, and other forward-looking statements herein are based on the information currently available to the Company and certain assumptions that theCompany considers reasonable. The actual results may differ significantly from these forecasts due to a wide range of factors such as economic status of the majordomestic and international markets or exchange rates fluctuation.

Attached Documents – Table of Contents

1. Qualitative information on the quarterly financial results ........................................................................................... 2(1) Explanation regarding the operating results ........................................................................................................... 2(2) Explanation regarding financial position and cash flow......................................................................................... 4(3) Explanation on future forecast information, such as consolidated earnings forecast.............................................. 5
2. Summary of the quarterly consolidated financial statements and major notes ............................................................ 6(1) Summary of the quarterly consolidated financial position ..................................................................................... 6(2) Summary of the quarterly consolidated profit and loss statement .......................................................................... 8(3) Summary of the quarterly consolidated comprehensive income statement ............................................................ 9(4) Summary of the quarterly consolidated statement of changes in equity................................................................. 10(5) Summary of the quarterly consolidated statement of cash flows ........................................................................... 11(6) Notes regarding summary of the quarterly consolidated financial statements........................................................ 13(Notes on going concern assumption) ..................................................................................................................... 13(Changes in Presentation) ....................................................................................................................................... 13(Segment information) ............................................................................................................................................ 13―1―

1. Qualitative information on the quarterly financial results(1) Explanation regarding the operating results
Japan's economy during the consolidated cumulative period of the first quarter has been gradually picking up and evenrecovering, although affected by the slowdown in the pace of overseas economies and rising prices.
In the domestic automobile market, the total number of new vehicles sales increased to 111.8% (statistical data of the Japan
Automobile Manufacturers Association) as compared to the consolidated cumulative period of the same quarter from the previous
year (hereinafter referred to as the same quarter from the previous year). The recovery trend became clearer in the first quarterof the consolidated accounting period as some finished vehicle manufacturers expanded shipments to the domestic market in linewith the resolution of the semiconductor shortage. The number of used vehicle registrations and sales increased to 102.4%
compared to the same period of the previous year, as the used vehicle market was revitalized along with the recovery of the
supply of new vehicles, and the used vehicle market, which had been on an upward trend, began to stabilize.
Sales revenue decreased mainly in the overseas-related business due to limited capacity of car carrier ship resulting from thebrisk exports of new cars from Japan against the depreciation of the yen, causing a cutback in the number of used vehicles
exported to Malaysia. Operating profit decreased mainly due to the impact of higher labour costs in the domestic automotiverelated and Human Resource businesses.
As a result, the business results of our group are as follows: sales of 31,669 million yen (93.7% compared to the same quarter
from the previous year) and operating profit of 1,124 million yen (94.0% compared to the same quarter from the previous year).
Also, the profit before taxes was 1,138 million yen (94.6% compared to the same quarter from the previous year), and the profitof the quarter attributable to the equity shareholders of the company was 709 million yen (88.8% compared to the same quarter
from the previous year).
Number of units related to domestic distribution of automobiles
July of 2022 to September ofDomestic
2022

July of 2023 to September of2023

Units: vehicles
Compared to theprevious year

Number of new vehicles soldDomestic manufacturer*1975,680

1,094,881

112.2％(out of this, Nissan Motor)*1(116,463)(121,425)(104.3％)Foreign manufacturer*258,86062,005105.3％

1,034,540

1,156,886

111.8％*3

841,488866,403103.0％*4647,247

658,332101.7％

1,488,735

1,524,735

102.4％

July of 2022 to September of2022

July of 2023 to September of
2023

Compared to theprevious year*1

1,019,817

1,163,235

114.1％*5

317,301

373,566

117.7％

Total of new vehicle sales
Number of registered used
vehicles and sales
Registered vehicles
Light vehicles
Total number of registered
used vehicles and sales
ExportNew vehicles of domestic
manufacturers
Used vehicles (registeredvehicles)*1 Calculated from Japan Automobile Industry Association Statistics*2 Calculated from Japan Automobile Importers’ Association statistics*3 Calculated from Japan Automobile Dealers Association statistics*4 Calculated from Japan Mini Vehicles Association statistics*5 Trial calculated from the number of export deleted registered vehicles in the Japan

Automobile Dealers Association statistics―2―

The segment business results are as follows.
①Domestic automotive related businesses
For vehicle transportation, which is the core business, the number of units for transportation contracts for used vehicles increased
in line with the recovery in used vehicle registrations and sales, despite the turmoil in the used vehicle industry, resulting in an
overall increase in revenues in the domestic automobile-related business.
Segment profit decreased due to an increase in the number of effective job offers for drivers following the end of the COVID-19
pandemic, and also due to increased labour costs as a result of promoting the recruitment of new drivers and increasing unit labourcosts to address the 2024 problem in a situation where the consumer price index and minimum wages are rising. In addition, vehicle
costs have increased as a result of investment in transport equipment in anticipation of EVs.
As a result, the overall sales in the domestic automotive related businesses was 14,137 million yen (102.1% compared to thesame quarter from the previous year), and the segment profit was 1,000 million yen (90.8% compared to the same quarter from theprevious year).
In the vehicle transportation business, the Group continued to implement the "Digitalization", "Greening", and "New normal"
policies outlined in our mid-term management plan through June 30, 2024.
In the area of "Digitalization", we have set up the Transportation Digitalization Promotion Office and are promoting theconstruction of a system to realize systematic allocation of vehicles. We have also launched and are promoting a new digitalization
project in which crew members record the condition of vehicles entrusted by customers using tablets.
In the area of “Greening”, we have completed the development of transportation equipment with an increased maximum loading
capacity to cope with the increased weight of automobiles as they become more electrically powered, and we will sequentiallyintroduce the equipment. In addition, with the rapid adoption of EVs, we are promoting the establishment of an infrastructure that
includes the implementation of ancillary services in EV vehicle transportation.
In response to the "New Normal", the direction of the Ministry of Health, Labour and Welfare's revision of the Improvement
Standards Notice has been set, we will reduce indirect time other than operation hours by promoting a system of division of laborin cargo handling while maintaining the operation hours of crew members toward the "Year 2024 Problems", and at the same time,
we will promote new hiring of crew members and efficient operation of transportation equipment. However, in the midst of thechronic shortage of crew members, combined with rising consumer price indexes, minimum wages, and unit labor costs, it isnecessary to maintain and improve compensation while reducing the total working hours of crew members, and to introduce newcrew members and transportation equipment to compensate for the decrease in transportation capacity due to reduced total working
hours.
②Human resource businesses
In the pickup service business, revenue increased due to the acquisition of new contracts and an increase in MaaS (Mobility as aService) services for J:COM (JCOM Co., Ltd.). In the temporary staffing business, revenue increased due to an increase in thenumber of dispatched drivers in east Japan area, and in the airport-related business, revenue increased due to an increase in thenumber of dispatched personnel in line with the recovery in the number of flights to and from Japan. Segment profit decreased dueto the start-up costs of the driver recruitment portal site "wnten.com" and the rise in recruitment and labor costs due to increases in
the consumer price index and minimum wage.
As a result, the sales revenue of the overall human resource business was 5,311 million yen (104.2% compared to the samequarter from the previous year), and the segment profit was 182 million yen (84.4% compared to the same quarter from the previousyear).
③General cargo businessIn the port cargo handling business, revenue from fuel cargo handling for biomass power plants increased due to acquisition ofcargo handling for new power plants, but revenues in the transport / warehousing business decreased due to the withdrawal of
unprofitable customers, and revenue in the overall general cargo business decreased as well. Segment profit increased with theincreased revenue in the port cargo business, and there was also an increase in the overall general cargo business.
As a result, the sales revenue of the overall general cargo business was 1,612 million yen (94.5% compared to the same quarter
from the previous year), and the segment profit was 309 million yen (117.3% compared to the same quarter from the previous year).
④Overseas Related Businesses
In the used vehicle export business, revenue decreased due to restrictions on the number of used cars exported to Malaysia as thecapacity of car carrier ship was limited as a result of brisk exports of new vehicles from Japan against the depreciation of the yen.
―3―

In the CKD business, revenue increased due to an increase in the number of units packed, however in the vehicle transportation
business in China, revenue decreased due to the impact of the struggle of Japanese manufacturers in the Chinese automobile market.
Segment profit decreased in the used vehicle export business due to a decrease in revenue, but increased in the CKD businessdue to an increase in revenue, and in the vehicle transport business in China, segment profit increased due to the successfulacquisition of new customers.
As a result of the above, the sales revenue of the overall overseas business was 10,607 million yen (80.7% compared to the samequarter from the previous year), and segment profit was 168 million yen (128.3% compared to the same quarter from the previousyear).
Furthermore, the company expenses not included in the abovementioned report segment (expenses affiliated with our company’s
management division), etc. are allocated as an item in the "adjustment amount" as indicated in "2. (Segment information) in thesummary of the quarterly consolidated financial statements and major notes", and totalled 537 million yen.
(2) Explanation regarding financial position and cash flow
Status of assets, liabilities, and equity(Assets)
Current assets increased by 1,630 million yen (6.3%) compared to the end of the previous consolidated fiscal year to 27,663
million yen.
This was mainly due to an increase in cash and cash equivalents of 2,158 million yen.
Non-current assets decreased by 598 million yen (2.0%) compared to the end of the previous consolidated fiscal year to 29,927
million yen.
This was mainly due to a decrease of tangible fixed assets of 952 million yen resulting from amortization of assets of right touse, etc.
As a result, total assets increased by 1,032 million yen (1.8%) compared to the previous consolidated fiscal year to 57,591
million yen.
(Liabilities)
Current liabilities increased by 671 million yen (3.7%) compared to the end of the previous consolidated fiscal year to 18,871
million yen.
This was mainly due to an increase of 2,500 million yen in borrowings, despite a decrease of 828 million yen in income taxes
payable.
Non-current liabilities increased by 180 million yen (4.0%) compared to the end of the previous consolidated fiscal year to
4,702 million yen.
This was mainly due to an increase of 347 million yen in net defined benefit liability, despite a decrease of 190 million yen inlease liabilities.
As a result, total liabilities increased by 851 million yen (3.7%) compared to the end of the previous consolidated fiscal year
to 23,573 million yen.
(Equity)
Total equity increased by 181 million yen (0.5%) compared to the end of the previous consolidated fiscal year to 34,017 million
yen.
This was mainly because retained earnings increased by 87 million yen.
Cash flow status
Cash and cash equivalents (hereinafter referred to as "funds") at the end of the consolidated accounting period of the firstquarter increased by 2,158 million yen compared to the end of the previous consolidated fiscal year to 7,633 million yen.
Each cash flow status category during the consolidated cumulative period of the first quarter and their causes are as follows.
(Cash flow from operating activities)
Funds obtained as a result of operating activities were 1,772 million yen (there was an income of 71 million yen during thesame period of the previous year).
The main cause of the increase in funds were 1,280 million yen for depreciation and amortization expenses which are non―4―

fund expenses and quarterly profit of 723 million yen; the main cause of the decrease in funds was 1,212 million yen for paymentof corporate income taxes.
(Cash flow from investment activities)
Net cash used in investment activities was 798 million yen (expenditures of 732 million yen during the same period of theprevious year).
The main itemization breakdown for expenditures was 728 million yen for acquisition of tangible fixed assets and investment
property.
(Cash flow from financing activities)
Net cash obtained from financing activities was 1,158 million yen (expenditures of 169 million yen during the same period of
the previous year).
The main itemization breakdown for expenditures were 743 million yen lease liabilities payments and 597 million yen for
dividends, while the main itemization breakdown for income was 2,500 million yen net increase for short-term borrowings.
(3) Explanation on future forecast information, such as consolidated earnings
We have not made any amendments to the consolidated earnings forecast announced on August 10, 2023.

―5―

2. Summary of the consolidated financial statements and major notes(1) Summary of quarterly consolidated statement of financial position(Units: Million yen)
Consolidated cumulative period of thisEnd of the previous consolidated
first quarteraccounting year (June 30, 2023)(from September 30, 2023)
AssetsCurrent assets
Cash and cash equivalents

5,475

7,633

Trade and other receivables

14,843

14,599Inventories

4,730

4,420

Other financial assets

469

435

Other current assets

514

574

26,032

27,663

Tangible fixed assets

20,743

19,790Goodwill and intangible assets

3,378

3,416

Investment properties

3,020

2,975

533

558

Other financial assets

1,939

1,962

Other non-current assets

433

745

Deferred tax assets

478

478

Total non-current assets

30,52629,927

Total assets

56,55857,591

Total current assets
Non-current assets

Investment accounting processed with equity method―6―

(Units: Million yen)
Consolidated cumulative period of thisEnd of the previous consolidated
first quarteraccounting year (June 30, 2023)(from September 30, 2023)
Liabilities and Equity
Liabilities
Current liabilities
Trade and other payable

9,077

8,640

Loans

1,600

4,100

Lease liabilities

3,132

2,564

Income taxes payable, etc.

1,283

454

Other current liabilities

3,106

3,112

18,20018,871

2,563

2,373

Other financial liabilities

89

89

Retirement benefits liabilities

655

1,003

Other non-current liabilities

313

341

Deferred tax liabilities

899

893

Total non-current liabilities

4,522

4,702

Total liabilities

22,722

23,573

Capital

3,390

3,390

Capital surplus

3,461

3,470

Treasury stock

△638

△638

644

700

26,426

26,51433,28533,437550

579

Total Equity

33,83634,017

Total liabilities and equity

56,55857,591

Total current liabilities
Non-current liabilities
Lease liabilities

EquityOther components of funds
Retained earnings
Total equity attributing to the equity shareholders of
the company
Non-controlling interest―7―(2) Summary of quarterly consolidated profit and loss statement(Units: Million yen)
Consolidated cumulative period Consolidated cumulative period
for the previous first quarterof this first quarter(From July 1, 2022
(From July 1, 2023
to September 30, 2022)
to September 30, 2023)
Sales

33,787

31,669

Cost of sales△30,179△28,026

Gross profit

3,608

3,642

△2,470△2,575

Other income

81

66

Other expenses

△21

△9

1,196

1,124

23

23

Financial expenses

△14

△9

Investment gain / loss through equity method

△2

△0

1,203

1,138

△400

△415

803

723

798

709

Non-controlling interest

4

14Profits of the quarter

803

723

Basic quarterly earnings per share (yen)

47.43

42.01

Diluted quarterly earnings per share (yen)

47.42

42.01

Selling, general and administrative expenses

Operating profit
Financial profit

Profit before tax
Corporate income tax expenses
Profits of the quarter

Attribution of the profits of the quarter:
Equity shareholders of the company

Quarterly earnings per share―8―(3) Summary of the quarterly consolidated comprehensive income statement(Units: Million yen)
Consolidated cumulative period Consolidated cumulative period
for the previous first quarterof this first quarter(From July 1, 2022
(From July 1, 2023
to September 30, 2022)
to September 30, 2023)
Profits of the quarter

803

723

△26

△23

Financial assets measured by fair value through othercomprehensive profits

87

4

Total of the items not transferring over to profit or loss

61

△19

△1

40

31

25

30

65

91

46

894

769

890

741

4

28

894

769

Other comprehensive income
Items not transferring over to profit or loss:
Remeasurement of defined benefit system

Items which may be transferred over to profit or loss
Conversion difference of business activities overseas
Other comprehensive income equity of affiliatedcompany accounted for by the equity method
Total of the items which may be transferred over toprofit or loss

Other comprehensive income after tax deduction
Comprehensive income of the quarter

Attribution of the comprehensive income for the quarter:
Equity shareholders of the company
Non-controlling interest
Comprehensive income of the quarter―9―(4) Summary of the quarterly consolidated statement of changes in equity
Consolidated cumulative period of the previous first quarter (from July 1, 2022 to September 30, 2022)(Units: Million yen)
Equity attributable to equity shareholders of the company
Other components of funds

Balance on July 1, 2022

CapitalCapitalsurplus

3,390

3,458

Total
FinancialequityNonassetsattributing
controlling
Conversion measured Remeasur
Treasury
Retainedto theinterest
difference
by fair
ement of Total otherstock
earnings
equityof businessvalue
defined component
shareholde
activities
through
benefit s of funds
rs of theoverseasothersystemcompany
comprehens
ive profits
△667

155

288

－

Profits of the quarter
Other comprehensive
incomeComprehensive income ofthe quarter

－

－

－

444

23,44030,067546

30,614

－

798

798

4

803

92

△0

91

4

894

30

87

△26

92

30

87

△26

92

798

890

－

△376

△376

△376

1

1
－

Dividends of the surplus
Share-based paymenttransactions, etc.
Transfer from other capitalcomponent to Retained
earnings
Total transactions, etc.
with the owners
Balance on September 30,
2022

Total
Equity

1

－
△0

26

25

△25

－

－

1

－

－

△0

26

25

△401

△374

－

△374

3,390

3,460

△667

186

375

－

561

23,83830,583550

31,134

Consolidated cumulative period of the first quarter (from July 1, 2023 to September 30, 2023)(Units: Million yen)
Equity attributable to equity shareholders of the company
Other components of funds

Balance on July 1, 2023

CapitalCapitalsurplus

3,390

3,461

NonTotal equity
Financial
control
attributing
toConversion
assetsRemeasur Total
ling
Treasury
Retainedthe equity
difference measured by ement of otherintereststock
earnings
shareholders ofof business fair value
defined compon
the company
activities through other benefit ents ofoverseas comprehensiv system funds
e profits
△638

172

472

－

Profits of the quarter
Other comprehensive
incomeComprehensive incomeof the quarter

－

－

－

644

26,42633,285550

33,836

－

709

709

14

723

32

14

46

28

769

51

4

△23

32

51

4

△23

32

709

741

－

△597

△597

△597

9

9
－

Dividends of the surplus
Share-based paymenttransactions, etc.
Transfer from other capitalcomponent to Retained
earnings
Total transactions, etc.
with the owners
Balance on September 30,
2023

Total
Equity

9

－
23

23

△23

－

－

9

－

－

－

23

23

△621

△588

－

△588

3,390

3,470

△638

224

476

－

700

26,51433,437579

34,017―10―

(5) Summary of the quarterly consolidated statement of cash flows(Units: Million yen)
Consolidated cumulative period Consolidated cumulative period
for the previous first quarterof this first quarter(From July 1, 2022
(From July 1, 2023
to September 30, 2022)
to September 30, 2023)
Cash flow from operating activities
Profits of the quarter

803

723

Depreciation and amortization costs

1,225

1,280

Interest income and dividend

△23

△21

Interest expense

99Investment gain / loss through equity method

2

0

400

415

△1,154

367

Increase / decrease of inventories (△ is an increase)

△241

309

Increase / decrease of trade payables (△ is a decrease)

234

109

Increase / decrease in net defined benefit asset andliability

△13

△9

Other

△317

△212

Subtotal

926

2,972

Interest and dividend received

23

21

Interest paid

△9

△9

△867

△1,212

71

1,772

△700

△728

2

22

Payment for intangible assets

△17

△55

Other

△16

△38

Cashflow from investment activities

△732

△798

Corporate income tax expenses
Increase / decrease of trade receivables (△ is an increase)

Corporate income tax paid
Cash flow from operating activities

Cashflow from investment activities
Payment for acquisition of tangible fixed assets andinvestment properties
Proceed from sales of tangible fixed assets andinvestment properties―11―

(Units: Million yen)
Consolidated cumulative period Consolidated cumulative period
for the previous first quarterof this first quarter(From July 1, 2022
(From July 1, 2023
to September 30, 2022)
to September 30, 2023)
Cash flow from financing activities
Net increase or decrease of short-term loans (△ is adecrease)

951

2,500

Repayment of long-term loans△7－

Repayment of lease debts

△739

△743

Dividend paid

△375

△597

Cash flow from financing activities

△169

1,158

△1

26

△831

2,158

Cash and cash equivalents at the beginning of the year

5,180

5,475

Balance of cash and cash equivalents at the end of thequarter

4,349

7,633

Effect of exchange rate changes on cash and cash
equivalents
Increase / decrease in of cash and cash equivalents (△ is adecrease)―12―(6) Notes regarding summary of the quarterly consolidated financial statements(Notes on going concern assumption)
There are no applicable matters.
(Changes in Presentation)(Summary of quarterly consolidated cash flow statements)
From the consolidated cumulative period of this first quarter, "Increase / decrease in retirement benefits liabilities", which was
included in "Other" under "Cash flow from operating activities" in the first quarter of the previous fiscal year, has been combinedwith the previous "Increase / decrease in retirement benefits liabilities" and presented as "Increase / decrease net defined benefit
asset and liability" to improve the clarity of the presentation. To reflect this change in presentation, the condensed quarterly
consolidated financial statements for the first quarter of the previous fiscal year have been reclassified.
As a result, △0 million yen presented in "Other" under "Cash flow from operating activities" in the condensed quarterly
consolidated statements of cash flows for the first quarter of the previous fiscal year has been reclassified as "Increase / decrease in
net defined benefit asset and liability" under "Cash flows from operating activities".
(Segment information)
The segment information of our group is as follows.
Consolidated cumulative period of the previous first quarter (from July 1, 2022 to September 30, 2022)(Units: Million yen)
Total amounton theAdjustment
quarterly
amountconsolidated(note) 1
financialstatements

Domestic
automotive
relatedbusinesses

Human
resourcebusinesses

Generalcargobusinesses

Overseas
RelatedBusiness

13,840

5,099

1,706

13,14233,787－33,787

32

253

25

－

311

△311

－

13,872

5,352

1,731

13,142

34,098△311

33,787

Total

Sales
Sales
from
customers

external

Sales between segments
Total

Segment profit (operating
1,102
216
264
131
1,714
1,196
△517
profit)(Note).1 The △517 million yen adjustment amount in the segment profits includes the total company cost △517 million yen. The
total company cost is an expense related to the management divisions of our company not belonging to the reporting
segment.
2 The provisional accounting treatment for business combinations was finalized in the previous
fiscal year. The figures for the first quarter of the fiscal year ending June 2023 are after theprovisional accounting treatment has been finalized.
Consolidated cumulative period of the first quarter (from July 1, 2023 to September 30, 2023)(Units: Million yen)
Total amounton theAdjustment
quarterly
amountconsolidated(note)
financialstatements

Domestic
automotive
relatedbusinesses

Human
resourcebusinesses

Generalcargobusinesses

Overseas
RelatedBusiness

14,137

5,311

1,612

10,607

31,669－31,669

30

301

25

－

357

△357

－

14,167

5,613

1,637

10,60732,026△357

31,669

Total

Sales
Sales
from
customers

external

Sales between segments
Total

Segment profit (operating
1,000
182
309
168
1,661
1,124
△537
profit)(Note). The △537 million yen adjustment amount in the segment profits includes the total company cost △537 million yen. The―13―

total company cost is an expense related to the management divisions of our company not belonging to the reporting
segment.

―14―