[Translation]
Note: This document has been translated from the Japanese original for reference purposes only. In the event ofany discrepancy between this translated document and the Japanese original, the original shall prevail.

Consolidated Financial Results for the Fiscal Year Ended March 31, 2024
(Under Japanese GAAP)May 15, 2024
Company Name Kakuyasu Group Co., Ltd.
Listing
Tokyo Stock Exchange
Ticker Code7686
URL
https://www.kakuyasu-group.co.jp/
Representative Yoshiyuki Maegaichi, Representative Director and President
Inquiries
Tsuyoshi Matsuki, Executive OfficerTelephone+81-3-5959-3088
Scheduled date of annual general meeting of shareholders:June 26, 2024
Scheduled date to commence dividend payments:
June 12, 2024
Scheduled date to file annual securities report:
June 27, 2024
Preparation of supplementary material on financial results:
Yes
Yes
Holding of financial results briefing:(For institutional investors andsecurities analysts)(JPY amounts are rounded down to million, unless otherwise noted.)
1. Consolidated financial results for the fiscal year ended March 31, 2024（From April 1,2023 to March 31, 2024）(1) Consolidated operating results (cumulative)（Percentages indicate year-on-year changes.)
Sales

Operating profit

Profit attributable to ownersof parent

Ordinary profit

Fiscal year ended

JPY million％

JPY million％

JPY million％

JPY million％

March 31, 2024

129,400

12.6

2,867

257.0

2,878

259.8

1,595

161.9

March 31, 2023

114,960

34.4

803

－

800－609－

Note: Comprehensive income For the fiscal year ended March 31, 2024:

JPY

1,632

For the fiscal year ended March 31, 2023:

JPY654

Basic earnings
per share

Diluted earnings
per sharemillion [149.5％]
million [－％]
Ratio of ordinary profit
to total assets

Return on equity

Ratio of operating
profit to net sales

Fiscal year ended

JPYJPY％％％

March 31, 2024

169.44164.85

46.0

8.5

2.2

March 31, 2023

65.36

63.65

23.8

2.6

0.7

Reference:

Share of profit (loss) of entities accounted for using equity method
For the fiscal year ended

March 31, 2024

JPY

For the fiscal year ended

March 31, 2023

JPY－ million－ million(2) Consolidated financial position
Total assets
As ofNet assets

Equity-to-asset ratio

Net assets per share

JPY million

JPY million％

JPY

33,953

4,116

12.1

434.132,815

8.5

300.83

Cash flows from operating
activities

Cash flows from investing
activities

Cash flows from financing
activities

Cash and cash equivalents
at end of period

Fiscal year ended

JPY million

JPY million

JPY million

JPY million

March 31, 2024

2,785(207)(2,136)

3,151

March 31, 2023

2,531

(1,149)(1,420)2,709

March 31, 2024
March 31, 2023
Reference: Equity

33,086
As of March 31, 2024

JPY 4,116 million

As of March 31, 2023JPY 2,815 million(3) Consolidated cash flows- 1 -2. Cash dividends
Annual dividends per shareFirst quarterSecond
endquarter-end

Thirdquarter-end

Fiscalyear-end

Total cash
dividends(Total)Total

Payout ratio(Consolidated)

Ratio ofdividends tonet assets(Consolidated)

JPY

JPY

JPY

JPY

JPY

JPY million

%%

－

10.00

－

20.00

30.00

285

45.8

10.9

－

25.00

－

25.00

50.00

481

29.1

13.5

－

30.00

－

30.00

60.00

Fiscal year
ended March 31,2023
Fiscal year
ending March31, 2024
Fiscal yearendingMarch 31, 2025
(Forecast)
Note:－As the Employee Stock Ownership Plan Trust was implemented from the fiscal year ended March 31, 2023,
the total amount of dividends includes dividends paid to the ESOP Trust (9 million yen for the fiscal year
ended March 31, 2024). Dividend payout ratio and ratio of dividends to net assets are calculated based on thenon-consolidated dividend per share excluding the amount of dividends paid to the ESOP trust.

3. Consolidated financial results for the fiscal year ending March 31, 2025（Forecast）（From April 1,2024 to March31, 2025）（Percentages indicate year-on-year changes.）
Sales

Fiscal year ending
September 30, 2024
Fiscal year ending
March 31, 2025

Operating profit

Profit attributable toowners of parent

Ordinary profit

Earnings
per share

JPY million％

JPY million％

JPY million％

JPY million％

JPY

67,430

5.9

1,330

17.5

1,310

15.0

810

85.2

84.23

137,400

6.2

3,600

25.6

3,600

25.0

2,200

37.9

228.72※ Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting
in the change in scope of consolidation): Yes
Excluded: 1 company (Dangami Sanno Co., Ltd.)
Note: Dangami Sanno Co., Ltd. was excluded from the scope of consolidation in the current consolidated
fiscal year because it was dissolved through an absorption-type merger with consolidated
subsidiary Kakuyasu Co., Ltd. as the surviving company.
(2) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations：No(ii) Changes in accounting policies due to other reasons：No(iii) Changes in accounting estimates：No(iv) Restatement: No(3) Number of issued shares (common shares)(i)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2024

9,651,300

shares

As of March 31, 2023

9,587,100

shares

As of March 31, 2024

170,237

shares

As of March 31, 2023

227,544

shares(ii) Number of treasury shares at the end of the period- 2 -(iii) Average number of shares outstanding during the period (cumulative from the beginning of thefiscal year)
Fiscal year ended March 31, 2024

9,416,729

sharesFiscal year ended March 31, 2023

9,327,176

sharesNote:

The number of treasury stock at the end of the period includes the Company's shares held by the ESOP Trust
Account (227,500 shares as of March 31, 2023 and 170,100 shares as of March 31, 2024).

※ Financial results reports are exempt from audit conducted by certified public accountants or an audit
corporation.
※ Explanation of Appropriate Use of Earnings Forecasts and Other Special Instructions
The forward-looking statements, including earnings forecasts, contained in this document are based on
information currently available to the Company and certain assumptions that the Company considers reasonable,
and are not intended as a guarantee that they will be achieved. Actual results may differ significantly due tovarious factors.

- 3 -4. Consolidated Financial Statements and major notes(1) Consolidated Balance Sheets（JPY million）
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Merchandise
Accounts receivable - others
OthersAllowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, netTools, furniture and fixtures, net
Land
Others, net
Total property, plant and equipment
Intangible assets
GoodwillSoftware
Leased assets
OthersTotal intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Leasehold and guarantee deposits
OthersAllowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets- 4 -As of March 31, 2024

2,727
8,884
5,191
1,356
1,384
(81)
19,462

3,175
9,818
5,652
1,540
1,325
(89)
21,423

3,841
257
3,411
0
7,511

4,198
325
2,720
11
7,255

1,165
589
2
18
1,777

993
640
0
75
1,710

324
1,656
2,156
307
(108)
4,335
13,62333,086

361
787
2,221
314
(120)
3,564
12,53033,953

（JPY million）
As of March 31, 2023
Liabilities
Current liabilities
Accounts payable - trade
Short-term borrowings
Lease liabilities
Income taxes payable
Provision for bonuses
Asset retirement obligations
OthersTotal current liabilities
Non-current liabilities
Long-term borrowings
Lease liabilities
Deferred tax liabilities
Retirement benefit liability
Asset retirement obligations
OthersTotal 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-salesecurities
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets- 5 -As of March 31, 2024

15,609
7,205
2
121
414
20
2,436
25,81016,007
6,382
1249
540
37
2,896
26,116

3,261
068
104
893
131
4,460
30,2712,231
280－
1,283
123
3,721
29,83747
3,555(601)
(307)
2,692

64
3,572
561
(230)
3,969

122

146

122
2,815
33,086146
4,116
33,953

(2) Consolidated Statements of Income and Comprehensive Income（Consolidated Statements of Income）（JPY million）
Fiscal year ended
March 31, 2023
Sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit (loss)
Non-operating income
Interest income
Subsidy income
Commission income
Insurance claim income
Guarantee commission income
OthersTotal non-operating income
Non-operating expensesInterest expenses
Loss on store closings
OthersTotal non-operating expenses
Ordinary profit (loss)
Extraordinary income
Gain on sale of investment securities
Gain on sale of non-current assets
Total extraordinary income
Extraordinary losses
Impairment losses
OthersTotal extraordinary losses
Profit (loss) before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit (loss)
Profit (loss) attributable to owners of parent- 6 -Fiscal year ended
March 31, 2024

114,960
89,90525,05424,251803

129,406
99,872
29,533
26,6662,867

4
14
15
9
6
34
84

3
4
11
23
18
28
91

65
13
8
87
800

46
24
8
79
2,878

15
1
16－
335
335

509
8
518
299
135
(446)
(310)
609
609

432
29
461
2,753
289
868
1,157
1,595
1,595

（Consolidated Statements of Comprehensive Income)（JPY million）
Fiscal year ended
March 31, 2023
Profit (loss)
Other comprehensive income
Valuation difference on available-for-sale securities
Total other comprehensive income
Comprehensive income（Comprehensive income attributable to）
Comprehensive income attributable to owners ofparent
Comprehensive income attributable to noncontrolling interests- 7 -Fiscal year ended
March 31, 2024
609

1,595

4444654

24
24
1,619

654

1,619

－

－

(3) Consolidated Statement of Changes in Equity
Previous consolidated fiscal year (April 1, 2022 to March 31, 2023)（JPY million)
Shareholders' equity
Share capital
Balance at beginning of period

Capital surplus

Retained earnings

Treasury shares

Total
shareholders'equity

38

3,217

(1,025)

(0)

2,229

173

173

－

－

346

(164)

164

－

－

－

Dividends of surplus

－－

(186)

－

(186)

Purchase of treasury shares－－－(329)(329)

Disposal of treasury shares

－－－

2222

Profit (loss) attributable toowners of parent－－609－609

Net changes in items otherthan shareholders' equity－－－－－

Total changes during period

8337

423

(307)

462

Balance at end of period

47

3,555(601)

(307)

2,692

Accumulated other comprehensive
incomeValuation
Total accumulateddifference on
otheravailable-for-salecomprehensive
securities
incomeTotal net assets

Changes during period
Issuance of new shares
Capital reduction

Balance at beginning of period

77772,307

Issuance of new shares－－346

Capital reduction－－－

Dividends of surplus

－－

(186)

Purchase of treasury shares

－－

(329)

Disposal of treasury shares－－

22

Profit (loss) attributable toowners of parent

－

－

609

Net changes in items otherthan shareholders' equity

44

44

44

Total changes during period

44

44

507

Balance at end of period

122

122

2,815

Changes during period- 8 -Current consolidated fiscal year (April 1, 2023 to March 31, 2024)（JPY million)
Shareholders' equity
Capital surplus

Retained earningsTreasury shares

Total
shareholders'equity

47

3,555(601)

(307)

2,692

Issuance of new shares

1717－

－

35

Capital reduction

－－－－

－

Dividends of surplus

－－

(432)

－(432)

Purchase of treasury shares

－－－

(0)

(0)

Disposal of treasury shares

－－

－

77

77

Profit (loss) attributable toowners of parent

－

－

1,595

－

1,595

Net changes in items otherthan shareholders' equity

－

－

－

－

－

Total changes during period

17

17

1,163

77

1,276

Balance at end of period

64

3,572561

(230)

3,969

Accumulated other comprehensive
incomeValuation
Total accumulateddifference on
otheravailable-for-salecomprehensive
securities
incomeTotal net assets

Share capital
Balance at beginning of period
Changes during period

Balance at beginning of period

1221222,815

Issuance of new shares－－

35

Capital reduction－－－

Dividends of surplus－－(432)

Purchase of treasury shares－－(0)

Disposal of treasury shares－－

77

Profit (loss) attributable toowners of parent

－－

1,595

Net changes in items otherthan shareholders' equity

2424

24

Total changes during period2424

1,300

Balance at end of period

146

146

4,116

Changes during period- 9 -(4)Consolidated statement of cash flows（JPY million）
Fiscal year ended
March 31, 2023
Cash flows from operating activities
Profit (loss) before income taxes
Depreciation
Amortization of goodwill
Impairment losses
Loss (gain) on sale of investment securities
Loss (gain) on sale of non-current assets
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Interest income
Subsidy income
Interest expenses
Decrease (increase) in trade receivablesDecrease (increase) in inventories
Decrease (increase) in accounts receivable - other
Increase (decrease) in trade payables
Increase (decrease) in accounts payable - other
Increase (decrease) in accrued consumption taxes
Others, net
SubtotalInterest and dividends received
Subsidies received
Interest paid
Income taxes refund
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of non-current assets
Proceeds from sale of non-current assets
Proceeds from sale of investment securities
Payments of leasehold and guarantee deposits
Proceeds from refund of leasehold and guarantee
deposits
Payments for asset retirement obligations
Others, net
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
Repayments of lease liabilities
Purchase of treasury shares
Proceeds from disposal of treasury shares
Proceeds from issuance of shares
Proceeds from issuance of shares resulting fromexercise of share acquisition rights
Dividends paid
Net cash provided by (used in) financing activities
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period- 10 -

Fiscal year ended
March 31, 2024

299
698
159
509
(13)
(1)
25
93(4)
(14)
65
(3,297)
(916)
(281)
4,306
151
1,124(210)2,693714(65)
0(118)
2,531

2,753
736
157
432
－
(335)
19
144
(3)
(4)
46(932)
(464)
(186)
482
340
(24)
(186)
2,973
3
4(46)
11(161)
2,785(1,174)－104(135)(1,209)
1,100
－
(281)

134

219

(41)
(37)
(1,149)(46)
10(207)(812)
715(1,162)
(36)
(329)
22
326

(326)
－
(1,525)
(2)
(0)
77
－

17

35

(161)
(1,420)
(38)
2,748
2,709

(394)
(2,136)441
2,709
3,151