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)
August 2, 2024
Company name:
ARGO GRAPHICS Inc.
Stock exchange listing: Tokyo
Stock code:
Representative:

7595
URL https://corp.argo-graph.co.jp
Chairman and CEO
Yoshimaro Fujisawa

Inquiries:
Senior Managing Director
Scheduled date to commence dividend payments:

Kunio Hasebe–Preparation of supplementary material on financial results:
Holding of financial results meeting:

NoNoTEL

03-5641-2018(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
18,007
24.5
2,846
27.8
3,007
26.8
2,003
26.9
Three months ended June 30, 2023
14,461
2.9
2,227
7.8
2,371
9.4
1,578
10.9
Earnings per share

Diluted earnings per share

Yen
94.04
74.02

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

Yen––(2) Consolidated financial position
Total assets

Net assets

Millions of yen
77,24675,053As of June 30, 2024
As of March 31, 2024

Equity ratio

Millions of yen
54,81552,441

Net assets per share%
67.966.8Yen
2,465.23
2,353.14

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
40.00

Yen–

Yen
50.00

Yen
90.00

50.00

–

50.00

100.00Year ending March 31, 2025 (Forecast)Total

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
62,600Percentages 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
5.2
9,540
4.0
10,000
3.2
6,630
1.7
311.081

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
NoChanges in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

NoNo

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

22,354,000 shares As of March 31, 2024

22,354,000 shares

Number of treasury shares at the end of the period
As of June 30, 2024

1,053,254 shares As of March 31, 2024

1,054,554 shares

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

21,300,313 shares Three months ended June 30, 2023

221,320,706 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Thousands of yen)
As of March 31, 2024

As of June 30, 2024

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract assets

34,356,804
13,087,932

35,454,732
12,493,045

Electronically recorded monetary claims - operating
Investments in leases

2,345,124
8,591

2,357,050–Securities
Merchandise

500,000
1,861,825

500,000
1,287,111

302,205
5,542

128,756
5,060

Other

1,414,582

1,814,914

Total current assets

53,882,608

54,040,671

430,331465,117

Goodwill
Other486,797
37,847437,787
52,202

Total intangible assets

524,645489,989

Investments and other assets
Investment securities

19,090,259

21,175,233

Retirement benefit asset
Other

8,807
1,117,097

1,827
1,073,207

Total investments and other assets

20,216,164

22,250,268

21,171,140

23,205,375

75,053,749

77,246,047

Current liabilities
Accounts payable - trade

9,514,446

8,701,204

Income taxes payable
Provision for bonuses

1,715,723
763,781855,622461,310

Provision for bonuses for directors (and other officers)
Other

150,000
4,742,908

22,5005,891,304

Total current liabilities

16,886,860

15,931,941

Non-current liabilities
Retirement benefit liability

3,044,411

3,085,262

394,291

416,311Work in process
Raw materials and supplies

Non-current assets
Property, plant and equipment
Intangible assets

Total non-current assets
Total assets
Liabilities

Provision for share awards
Provision for share awards for directors (and otherofficers)
Other145,388

160,388

2,140,939

2,836,903

Total non-current liabilities

5,725,031

6,498,866

22,611,892

22,430,808

Total liabilities3

(Thousands of yen)
As of March 31, 2024

As of June 30, 2024

Net assets
Shareholders' equity
Share capital

1,873,136

1,873,136

Capital surplus
Retained earnings

2,136,715
38,983,099

2,136,715
39,899,276

Treasury shares(1,010,423)(1,008,510)

Total shareholders' equity

41,982,527

42,900,617

7,794,198
146,019

9,237,674
136,464

197,917

236,545

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans
Foreign currency translation adjustment

8,138,135

9,610,684

Non-controlling interests

Total accumulated other comprehensive income

2,321,194

2,303,937

Total net assets

52,441,857

54,815,239

75,053,749

77,246,047

Total liabilities and net assets

4Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Thousands of yen)Three months ended

Three months ended

June 30, 2023

June 30, 2024

Net sales
Cost of sales

14,461,352
10,712,195

18,007,149
13,397,648

Gross profit

3,749,157

4,609,501

Selling, general and administrative expenses

1,521,819

1,762,825

Operating profit

2,227,338

2,846,676

Interest income
Dividend income

10,886
103,304

18,258
124,666

Foreign exchange gains
Other

20,236
16,651

6,190
20,494

Total non-operating income

151,079

169,610

5,611

7,816

989
526

734
349

7,126

8,900

Ordinary profit

2,371,290

3,007,385

Profit before income taxes

2,371,290

3,007,385

Income taxes - current

642,753

828,890

Income taxes - deferred

91,878121,007

Non-operating income

Non-operating expenses
Share of loss of entities accounted for using equity method
Loss on investments in investment partnerships
Other
Total non-operating expenses

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

5734,631

949,897

1,636,659

2,057,488

58,52354,377

1,578,136

2,003,110

Consolidated statements of comprehensive income (cumulative)(Thousands of yen)

ProfitOther comprehensive income

Three months ended

Three months ended

June 30, 2023

June 30, 2024

1,636,659

2,057,488

1,049,241(6,329)1,443,475(9,554)

48,41633,501

5,176

11,223

1,096,505

1,478,645

Comprehensive income

2,733,164

3,536,133

Comprehensive income attributable toComprehensive income attributable to owners of parent

2,661,505

3,475,032

71,65961,100

Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans, net of taxForeign currency translation adjustment
Share of other comprehensive income of entities accounted
for using equity method
Total other comprehensive income

Comprehensive income attributable to non-controllinginterests

6