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 Three Months Ended June 30, 2024
(Based on Japanese GAAP)
July 29, 2024
Company name:
HAMAKYOREX CO., LTD.
Stock exchange listing: Tokyo
Stock code:
Representative:

9037
President

URL https://www.hamakyorex.co.jp
Hidenori Osuka

Inquiries:
Executive officer
Scheduled date to commence dividend payments:
Preparation of supplementary material on financial results:
Holding of financial results meeting:Yoshiyuki Takeuchi–NoNo

TEL 053(444)0054(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended June 30, 2024 (from April 1, 2024 to June 30, 2024)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%Three months ended June 30, 2024
35,744
8.0
3,278
11.3
3,567
11.9
2,152
12.7
Three months ended June 30, 2023
33,092
1.7
2,946
2.0
3,187
0.5
1,910
(2.5)
Earnings per share

Diluted earnings per share

Yen
114.88101.71Three months ended June 30, 2024
Three months ended June 30, 2023

Yen––(2) Consolidated financial position
Total assets

Net assets

Millions of yen
155,358
154,892

As of June 30, 2024
As of March 31, 2024

Equity ratio

Millions of yen
96,427
95,631

%
54.5
54.2

2. Cash dividends
Annual dividends per share

Year ended March 31, 2024
Year ending March 31, 2025

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
55.00

Yen–

Yen
65.00

Yen
120.00

65.00

–

18.75

–

Year ending March 31, 2025 (Forecast)

Total(Note) Year-end dividend per share for the fiscal year ending March 31, 2025 (forecast)
We plan to conduct a 4-for-1 stock split of shares of common stock, effective October 1, 2024, and the year-end dividend per share for thefiscal year ending March 31, 2025 (forecast) reflects the effect of this stock split, and the total annual dividend per share is "-".
If the stock split is not taken into account, the year-end dividend per share forecast for the fiscal year ending March 31, 2025 is 75 yen, theannual dividend per share is 140 yen.
3. Forecast of consolidated financial results for the year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)

Net sales

Full year

Millions of yen
146,000

Percentages 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
3.9
12,9002.6
13,800
5.1
8,600
3.6
458.25(Note) Net income per share in the full-year earnings forecast for the fiscal year ending March 31, 2025 does not take into account the effect of
the stock split.

14. Notes(1) Significant changes in the scope of consolidation during the three months ended June 30, 2024:

No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No(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:No
Changes in accounting policies due to other reasons:No
Changes in accounting estimates:

No

Restatement of prior period financial statements:

No(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2024

19,012,000 shares As of March 31, 2024

19,012,000 shares

Number of treasury shares at the end of the periodAs of June 30, 2024

319,754 shares As of March 31, 2024

254,902 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2024

18,739,052 shares Three months ended June 30, 2023

218,787,195 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2024
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract assets
Merchandise
Supplies
OtherAllowance for doubtful accounts
Total current assetsNon-current assets
Property, plant and equipment
Buildings and structures, net
Land
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Income taxes payable
Provision for bonuses
Reserve for loss on dissolution of employee's pension fund
Other

As of June 30, 2024

26,405
17,154
3
136
4,613
(41)

23,37917,218
3147
4,650
(41)

48,27145,35632,54849,043
13,82833,54450,382
15,097

95,42099,023

2,858
8,342

2,781
8,196

106,621110,001

154,892

155,358

7,930
17,283
2,501
1,480
27
10,6267,450
17,471
1,421
1,116
15
12,287

Total current liabilities

39,84939,762

Non-current liabilities
Long-term borrowings
Retirement benefit liability
Other

6,228
5,833
7,350

5,952
5,825
7,390

Total non-current liabilities

19,411

19,168

Total liabilities

59,26158,930Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares

6,547
6,449
71,091(771)

6,5476,479
72,027(1,036)

83,31784,017

550
69

639
70

Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

3619

709

11,694

11,70095,631

96,427

154,892

155,358

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)(Millions of yen)Three months ended
June 30, 2023

Three months ended
June 30, 2024

Operating revenue

33,09235,744

Operating costs

29,052

31,173Operating gross profit

4,040

4,571

Provision of allowance for doubtful accounts
Remuneration for directors (and other officers)

1216

0237

Salaries and allowances
Provision for bonuses

227
35283
44

Retirement benefit expenses
Other9604

8719

1,093

1,293

2,946

3,278

Interest income
Dividend income

061

065

Gain on sale of non-current assets
Subsidy income

50
2348
18

Electricity sale income
Miscellaneous income

109102

109
181

Total non-operating income

346

422

Selling, general and administrative expenses

Total selling, general and administrative expenses
Operating profit
Non-operating income

Non-operating expenses
Interest expenses

3141

Cost of electricity sales
Miscellaneous losses

51
23

56
35

Total non-operating expenses

106

132

Ordinary profit

3,187

3,567

Profit before income taxes

3,187

3,567

Income taxes - current

1,163

1,286

Income taxes - deferred(118)(105)

Total income taxes

1,045

1,181

Profit

2,142

2,386

1,910
231

2,152
233

Other comprehensive income
Valuation difference on available-for-sale securities

9291Remeasurements of defined benefit plans, net of tax

7(0)Profit attributable toProfit attributable to owners of parent
Profit attributable to non-controlling interests

100

91

Comprehensive income

Total other comprehensive income

2,242

2,478

Comprehensive income attributable toComprehensive income attributable to owners of parent

2,004

2,243

237

234

Comprehensive income attributable to non-controlling interests4