[Translation]
August 14, 2023
Kakuyasu Group Co.,Ltd.
Representative Director and President

Yoshiyuki Maegaichi（Ticker Code：7686 Tokyo Stock Exchange Standard Market）
Inquiry toExecutive Officer

Hiroyuki Yamamoto

Revised Earnings and Dividend Outlook for FY2023
This is to announce that the Company has revised its consolidated earnings outlook
upward for the fiscal year ending March 31, 2024, which are included in the summary of
consolidated financial statements for the fiscal year ended March 31, 2023 (Japanese GAAP)
published on May 15, 2023, and that the Company has revised its dividend outlook for thefiscal year upward as well. Details are described as follows.

Revised Earnings Outlook in FY2023
1. Interim period in FY2023 (from April 1, 2023 to September30, 2023)
Net Profit
OperatingRecurring
attributable
Sales
profitprofitto owners ofparent
Previously
JPY million
JPY million
JPY million
JPY million
announced outlook（A）(Published on May685
61,898710
439
15, 2023）
Revised forecasts(B)

63,3001,190

1,180690

Change (B-A)

1,402

480

495251

Change (%)

2.3

67.6

72.3

57.2

53,797(684)

(688)

(780)

(Reference) Actual
consolidated results
for the previous
fiscal year
(Fiscal year ended
September 30, 2022)

1Earnings
per share
JPY

48.02
73.65

(83.73)

2. Full year cumulative period in FY2023 (from April 1, 2023 to March 31, 2024)
ProfitOperating
Ordinary
attributable
Sales
profitprofitto owners ofparent
Previously
announced outlook
JPY million
JPY million
JPY million
JPY million（A）
125,230
2,030
1,990
1,150
(Published on May15, 2023）
Revised forecasts(B)

130,600

3,000

2,900

1,700

Change (B-A)

5,370

970910550

Change (%)

4.3

47.8

45.7

47.8

114,960

803

800609(Reference) Actual
consolidated results
for the previous
fiscal year(Fiscal year endedMarch 31, 2023)

Earnings
per share

JPY
125.25181.4665.36

3. Reason for the revisionDuring the first three months (April 1 to June 30, 2023) of the fiscal year ending March 31,2024, sales to restaurants and other corporate customers far exceeded the initial outlook
chiefly due to a rise in demand for liquor attributable to an increase in the number of people
going out as a result of the significant decline in coronavirus cases and the recovery in
inbound tourism demand.
Sales of liquor for household consumption remained strong partly due to TV commercialsthat increased recognition of the Kakuyasu brand.
Expecting this upward trend to continue, the Company has revised the consolidated
earnings outlook for the first half (April 1 to September 30, 2023) of the fiscal year.
The Company expects that the trend will continue throughout the fiscal year and has thus
revised its full-year consolidated outlook.

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Revised Dividend Outlook in FY2023
1. Full year cumulative period FY2023 (from April 1, 2023 to March 31, 2024)
Annual dividends
FirstSecondThird
Fiscal-year
quarter-end quarter-end quarter-endendTotal

Previous outlook

―

―

―

―

―

Revised outlook―

JPY 25.0―

JPY 25.0

JPY 50.0

JPY 10.0―

JPY 20.0

JPY 30.0

Actual results forthe current fiscalyear
Actual results forthe previous
fiscal year
(Fiscal year
ended March 31,2023)――

2. Reason for the revision
For the dividend outlook for the fiscal year ending March, 2024, the Company revised toincrease its interim and year-end dividends outlook to JPY 25.0 per share respectively. The
revision is based on its dividend policy, which states that the Company will return profit toshareowners consistently, and the aforementioned upward revision of its consolidated
earnings outlook for the fiscal year ending March 31, 2024.

Disclaimer:
・The outlook figures described above are estimates based on currently available
information. Actual results may differ from the outlook due to various unforeseeable
factors.

・This is an English translation of the disclosure. This translation is prepared andprovided for the reader’s convenience.

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