FOR TRANSLATION PURPOSE ONLY
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event ofany discrepancy between this translated document and the original Japanese document, the latter shall prevail.
February 9, 2024

Summary of Consolidated Financial Results
for the Third Quarter of the Fiscal Year Ending March 31, 2024
(Based on Japanese GAAP)
Company name:
Stock exchange listing:Stock code:
Representative:

TAKAMIYA CO., LTD.
Tokyo (Prime Market)
2445
URL:
https://corp.takamiya.co/
Representative Director, President and Chairman KAZUMASA TAKAMIYA

Scheduled quarterly report submission date:Preparation of supplementary material on financial results:
Holding of financial results meeting:No

February 13, 2024
Yes

(Amounts less than one million yen are rounded down)
1. Consolidated Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2024 (April 1, 2023 to December 31,2023)(1) Consolidated operating results
Percentages indicate year-on-year changes
Net sales
Third quarter of the fiscal year
ending March 31, 2024
Third quarter of the fiscal year
ended March 31, 2023

(Note) Comprehensive income

Operating income

Profit attributable toowners of parent

Ordinary income

Million yen%

Million yen%

Million yen%

Million yen%

32,183

4.9

2,405

49.7

2.526

46.5

1,727

46.9

30,686

2.9

1,606

62.8

1,724

54.9

1,176

229.4

Third Quarter of Fiscal Year Ending March 31, 2024 : 2,147 million yen
Third Quarter of Fiscal Year Ended March 31, 2023 : 1,948 million yen

Quarterly
Earnings per
share
Third quarter of the fiscal year
ending March 31, 2024
Third quarter of the fiscal year
ended March 31, 2023

10.2%
259.0%

Diluted earnings
per share

Yen

Yen

37.08

35.70

25.25

24.40

(2) Consolidated financial condition
Total assets
Third quarter of the fiscal year
ending March 31, 2024
Fiscal year ended
March 31, 2023

(Reference) Shareholders' equity

Net assets

Capital adequacy ratio

Net assets per share

Million yen

Million yen%

Yen

68,022

22,06431.4

458.9262,74920,52231.7

427.08

Second Quarter of Fiscal Year Ending March 31, 2024 : 21,375 million yen

Fiscal year ended March 31, 2023 : 19,892 million yen
2. Cash dividends
Annual dividends per share
End of the 1Q
Fiscal year ended
March 31, 2023
Fiscal year ending
March 31, 2024

End of the 2Q

End of the 3Q

End of term

Total

Yen

Yen

Yen

Yen

Yen

-

6.00

-

8.00

14.00

-

6.00
-

8.00

14.00

Fiscal year ending
March 31, 2024 (Forecast)(Note) Revisions from the most recently announced dividend forecast: None
3. Consolidated Financial Forecast for the Fiscal Year Ending March 31, 2024 (April 1, 2023 to March 31, 2024)
Percentages indicate year-on-year changes
Earnings
Profit attributable to
Net sales
Operating income
Ordinary income
per shareowners of parent
Million yen%

Million yen%

Million yen%

Yen

48,000
14.6
3,800
68.7
(Note) Revisions from the most recently announced earnings forecast: None

3,580

49.1

2,420

65.7

51.95

Full year%

Million yen

FOR TRANSLATION PURPOSE ONLY
Notes
(1) Changes in significant subsidiaries during the current quarter consolidated cumulative period (changes in specified subsidiaries resulting inchanges in the scope of consolidation) : None
(2) Application of special accounting methods for the preparation of quarterly consolidated financial statements: None
(3) Changes in accounting policies, changes in accounting estimates, and restatements① Changes in accounting policies due to revision of accounting standards, etc.: None
② Changes in accounting policies other than (1) above : None
③ Changes in accounting estimates : None
④ Restatement : None
(4) Number of shares issued (common stock)① Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2023
46,585,600 shares As of March 31, 2023
② Number of treasury shares at the end of the period
As of December 31, 2023
7,080 shares As of March 31, 2023
③ Average number of shares during the period (cumulative quarterly)
As of December 31, 2023
46,578,563 shares As of December 31, 2022

46,585,600 shares
7,020 shares
46,578,580 shares* The quarterly financial statements are not subject to audit by certified public accountants or auditing firms.
*Explanation of the appropriate use of financial forecasts and other special notes(Cautionary Note Regarding Forward-Looking Statements, etc.)
The forward-looking statements, including business forecasts, contained in this document are based on information currently available to theCompany and on certain assumptions deemed reasonable, and are not intended as a promise by the Company that they will be achieved. Actual
results may differ materially due to a variety of factors. Please refer to "1. Qualitative information on quarterly financial results (3) Explanation of
consolidated financial forecasts and other forward-looking statements" on page 3 of the attached materials for the conditions that form theassumptions for the forecast of financial results and cautions concerning the use of the forecast of financial results.
(How to obtain quarterly financial results supplementary materials)
Supplementary materials for the quarterly financial results will be posted on the Company's website.

FOR TRANSLATION PURPOSE ONLY
Table of contents of attached documents
1. Qualitative information on quarterly financial results .......................................................................................................................

2(1) Explanation of business results ..............................................................................................................................................

2(2) Explanation of financial condition ………………………………………………………………………………...…………………...

3(3) Explanation of consolidated financial forecasts and other forward-looking statements ………………………………………...

3

2. Quarterly consolidated financial statements and major notes

4(1) Quarterly consolidated balance sheets ..................................................................................................................................

4(2) Quarterly consolidated statements of income and consolidated statements of comprehensive income ……………………...

6

Quarterly consolidated statements of income
For the Third quarter consolidated cumulative period...............................................................................................

6

Quarterly consolidated Statements of comprehensive income
For the Third quarter consolidated cumulative period...............................................................................................

7(3) Notes to quarterly consolidated financial statements .............................................................................................................

8(Notes on going concern assumption) .................................................................................................................................

8(Note in the event of a significant change in the amount of shareholders' equity) ..............................................................

8(Segment information) .........................................................................................................................................................

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1

FOR TRANSLATION PURPOSE ONLY
1. Qualitative information on quarterly financial results(1) Explanation of business results
During the third quarter consolidated cumulative period, the global economy saw a trend towards recovery as restrictions on
economic activities due to the impact of the COVID-19 pandemic were lifted. However, the pace of recovery slowed due to prolonged
inflation and monetary tightening in various European and American countries. Additionally, heightened uncertainty about the futurearose due to the prolonged Russia-Ukraine issue and escalating tensions in the Middle East, among other geopolitical risks.
In this environment, the Group has set a management vision of " Create new value through transformation and aim for sustainablegrowth by becoming a partner to our customers " in the medium-term management plan announced on May 31, 2021, and isproceeding with the transition to a new business model. We have been promoting the "Takamiya Platform," announced on May 31,
2023, which provides high-value-added services to customers who purchased the Iq System. We have been expanding functionalities,
including "OPERA," an interface that allows access to all services provided by the Takamiya Platform online, and "Iq-Bid," a digitalmarketplace where construction temporary equipment can be freely bought and sold. Furthermore, the user accounts for theoperational management service of the Iq System, "OPE-MANE," have also increased.
As a result, for the Third quarter of the current fiscal year, the Company posted net sales of 32,183 million yen (up 4.9% year-onyear), operating income of 2,405 million yen (up 49.7% year-on-year), ordinary income of 2,526 million yen (up 46.5% year-on-year),and net income attributable to owners of the parent of 1,727 million yen (up 46.9% year-on-year).
Operating results by segment are as follows.
(Sales business)
In the temporary equipment division, there is high interest in "Takamiya Platform," and while there have been inquiries for new
procurement, replacements, and additional purchases, concerns about construction delays due to soaring material prices, labor
shortages, etc., as well as uncertainties about the future, have led to continued postponement of purchase timing and a trend towards
rental usage, resulting in sales being lower than expected. On the other hand, there have been large-scale projects in the secondhand sales, including "Iq-Bid," contributing to an improvement in profit margins.
In divisions other than the temporary equipment division, sales decreased as large-scale solar projects, which had been ongoingsince the previous period, concluded.
As a result, sales were 9,053 million yen (down 4.8% year-on-year) and operating income was 1,113 million yen (up 34.1% year-onyear).
(Rental Business)
In the construction field, rental demand remains high, mainly for maintenance and repair work in the Tokyo metropolitan area, andin the civil engineering field, the number of construction sites is currently increasing, and the rental volume of temporary construction
equipment remained at a high level compared to the previous year. We have also expanded our equipment lineup and worked toestablish a stable supply system for Takamiya Platform users.
As a result, sales were 20,473 million yen (up 13.2% year-on-year) and operating income was 2,671 million yen (up 41.1% yearon-year).
(Overseas Business)
In the manufacturing field, the procurement of raw materials and parts has not been significantly affected, and both HORY VIETNAM(Vietnam) and Hory Korea (South Korea) are steadily shipping temporary construction equipment to Japan.
In Hory Korea, with overseas sales departments, concerns about the global economic downturn led to a similar trend in rental usage
as observed in Japan, particularly in the temporary division. Additionally, sales of solar-related materials decreased not only in thetemporary division but also in other divisions. As a result, sales revenue decreased.
At DIMENSION-ALL INC. (Philippines), while economic activity is showing signs of recovery, the impact of delays in large-scale
projects and deferment of commencements resulted in performance remaining at a similar level to the same period of the previous
year.
As a result, sales were 6,192 million yen (down 8.6% year-on-year) and operating income was 328 million yen (up 0.1% year-onyear).

2

FOR TRANSLATION PURPOSE ONLY
(2) Explanation of financial condition
Total assets at the end of the current Third quarter consolidated accounting period were 68,022 million yen, an increase of 5,272
million yen from the end of the previous consolidated fiscal year. This was mainly due to an increase of 683 million yen in Merchandiseand finished goods, and an increase of 3,532 million yen in Assets for rent, net.
Total liabilities amounted to 45,958 million yen, an increase of 3,730 million yen from the end of the previous consolidated fiscal
year. This was mainly due to an increase of 1,669 million yen in Short-term loans payable, and an increase of 2,082 million yen inLong-term loans payable (including Current portion of long-term loans payable).
Total net assets amounted to 22,064 million yen, an increase of 1,541 million yen from the end of the previous fiscal year. This was
mainly due to an increase of 1,075 million yen in retained earnings due to Profit attributable to owners of parent of 1,727 million yen
and dividends of surplus of 652 million yen.
(3) Explanation of consolidated financial forecasts and other forward-looking statements
Regarding the consolidated performance forecast, there have been no changes to the full-year consolidated performance forecast
as stated in the " Summary of Consolidated Financial Results for the Fiscal Year Ended March 31, 2023" announced on May 11, 2023.

3

FOR TRANSLATION PURPOSE ONLY
2. Quarterly consolidated financial statements and major notes(1) Quarterly Consolidated Balance Sheet
Million yen
Fiscal year ended March 31, 2023

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable tradeand contract assets
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Assets for rent
Accumulated depreciation - Assets for rent

Third quarter of the fiscal year
ending March 31, 2024

8,296

8,577

11,452

11,326

5,423
1,308
1,452
819
(323)

6,107
1,348
1,392
711
(351)

28,43029,112

42,59247,748(28,243)(29,866)

Assets for rent, net

14,34917,881

Buildings and structures

10,084(4,359)10,665(4,747)

Buildings and structures, net

5,725

5,918

Machinery, equipment and vehicles
Accumulated depreciation

3,683(2,171)

4,018(2,505)

1,512

1,513

7,766
1,224
(922)

7,775
1,487
(1,073)

301

413

145
1,858
(1,365)727
2,101(1,545)

Accumulated depreciation and impairment loss

Machinery, equipment and vehicles, net
Land
Leased assets
Accumulated depreciation
Leased assets, net
Construction in progress
Other
Accumulated depreciation

492

556

Total tangible assets

Other, net

30,292

34,786

Intangible assets
Leasehold right
Other

327

327

418

395

746

723

379

436

760
80
745
1,382
(68)

762
83
690
1,560
(132)

Total intangible fixed assets
Investments and other assets
Investment securities
Guarantee deposits
Net defined benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

4

3,280

3,399

34,31838,90962,74968,022

FOR TRANSLATION PURPOSE ONLY

Million yen
Third quarter of the fiscal year ending
Fiscal year ended March 31, 2023
March 31, 2024

Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term loans payable
Current portion of bonds
Current portion of long-term loans payable
Lease obligations
Income taxes payable
Contract liability
Provision for bonuses
Notes payable - facilities
Other

7,010
3,909
1,167
5,749
311
392
110
466
306
2,454

6,863
5,579
1,102
5,604
345
507
309
365
2,958

Total current liabilities

21,87823,636

Non-current liabilities
Bonds payable
Long-term loans payable
Lease obligations
Net defined benefit liability
Asset retirement obligations
Other

4,263
12,253
690
1,021
34
2,085

3,946
14,481
654
1,028
34
2,176

Total non-current liabilities

20,34922,321

42,22745,9581,052
1,910
16,514
(3)

1,052
1,910
17,589(3)

Total liabilities
Net assets
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury shares

19,473

20,548

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax

Total shareholders' equity

62
(1)
368
(9)

98
(1)
734
(4)

Total accumulated other comprehensive income

419

826

434
194

485
202

20,522

22,06462,74968,022

Subscription rights to shares
Non-controlling interest
Total net assets
Total liabilities and net assets

5FOR TRANSLATION PURPOSE ONLY
(2) Quarterly consolidated statements of income and consolidated statements of comprehensive income(Quarterly consolidated statements of income)Third quarter consolidated cumulative period
Million yen
Third quarter of the fiscal year
ending March 31, 2024

Third quarter of the fiscal year
ended March 31, 2023
Net sales

30,68632,183

Cost of sales

21,393

21,627Gross profit

9,293

10,555

Selling, general and administrative expenses

7,686

8,150

Operating income

1,606

2,405

3
8

10
11

Non-operating income
Interest income
Dividend income
Rent income

78

73

Gain on sales of scrap

138

118

Foreign exchange gains

67

192

Other

58

58

Total non-operating income

355

463

154
43

197
40

-

63

Non-operating expenses
Interest expenses
Commission fee
Provision of allowance for doubtful accounts
Other

40

40

Total non-operating expenses

238

342

1,724

2,526

Gain on sales of non-current assets

17

20

Total extraordinary income

17

20

Loss on retirement of non-current assets

220

Total extraordinary loss

22

0Profit before income taxes

1,719

2,546

422
110

740
66

Ordinary income
Extraordinary income

Extraordinary losses

Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

6

532

806

1,186

1,739

10

12

1,176

1,727

FOR TRANSLATION PURPOSE ONLY
(Quarterly consolidated Statements of comprehensive income)（Third quarter consolidated cumulative period）
Third quarter of the fiscal year
ended March 31, 2023
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income (loss)

Million yen
Third quarter of the fiscal year
ending March 31, 2024

1,186

1,739

5
6
747
1

36
0
366
4

762

407

Comprehensive income

1,948

2,147

(Breakdown)Comprehensive income attributable to owners of parent
Comprehensive income attributable to minority interests

1,938
10

2,134
12

7

FOR TRANSLATION PURPOSE ONLY
(3) Notes to quarterly consolidated financial statements(Notes on going concern assumption)
Not applicable.
(Note in the event of a significant change in the amount of shareholders' equity)
Not applicable.
(Segment information)
I. Consolidated cumulative period for the Third quarter of the previous fiscal year (from April 1, 2022 to December 31, 2022)
1. Information on sales and profit or loss amounts by reporting segment and revenue decomposition information(Million yen)
Adjustment(Note 1)

Sales Business

Rental Business

Overseas Business

9,466

9,626

2,467

21,560-21,560

-

8,461

663

9,125

-

9,125

9,466

18,0883,131

30,686-30,686

42

1

3,641

3,686

(3,686)

-

Total

9,509

18,0906,772

34,372(3,686)30,686

Segment income

830

1,894

327

3,052

(1,445)

1,606

Net sales
Income from contracts withcustomers
Other income
Net sales to externalcustomers
Intersegment sales andtransfers Net sales ortransfer amount

Total

Amount allocatedon consolidated
statements ofincome(Note 2)

Notes 1. The segment profit adjustment amount of (1,445) million yen includes the elimination of inter-segment transactions of 221
million yen and company-wide expenses of (1,667) million yen that are not allocated to each reporting segment. Companywide expenses are mainly general and administrative expenses that do not belong to the reporting segment.
2. Segment income is adjusted with operating income on the quarterly consolidated income statement.
3. Other income includes lease income based on ASBJ Statement No. 13, "Accounting Standard for Lease Transactions."
2. Information on impairment loss or goodwill of fixed assets by reporting segment
Not applicable.

8FOR TRANSLATION PURPOSE ONLYⅡ Consolidated cumulative period for the Third quarter of the current fiscal year (from April 1, 2023 to December 31, 2023)
1. Information on sales and profit or loss amounts by reporting segment and revenue decomposition information(Million yen)
Adjustment(Note 1)

Sales Business

Rental Business

Overseas Business

8,972

10,5682,057

21,599-21,599

-

9,857

726

10,584-

10,58432,183

Net sales
Income from contracts withcustomers
Other income
Net sales to externalcustomers
Intersegment sales andtransfers
Net sales or transfer amount

Total

Amount allocatedon consolidated
statements ofincome(Note 2)

8,972

20,4262,784

32,183

-

80

47

3,408

3,536

(3,536)

-

Total

9,053

20,473

6,192

35,719(3,536)32,183

Segment income

1,113

2,671

328

4,114

(1,708)2,405

Notes 1. The segment profit adjustment amount of (1,708) million yen includes inter-segment transaction elimination of 123
million yen and company-wide expenses of (1,832) million yen not allocated to each reporting segment. Company-wide
expenses are mainly general and administrative expenses that do not belong to the reporting segment.
2. Segment income is adjusted with operating income on the quarterly consolidated income statement.
3. Other income includes leasing income, etc. based on Corporate Accounting Standard No. 13 “Accounting Standard forLease Transactions”.
2. Information on impairment loss or goodwill of fixed assets by reporting segment
Not applicable.

9