Note: This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy
between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results
for the Year Ended March 31, 2024
[Japanese GAAP]May 10, 2024
Company name: HIROSHIMA GAS CO.,LTD.
Stock exchange listing: Tokyo
Code number: 9535
URL: https://www.hiroshima-gas.co.jp/
Representative: Tomohiko Nakagawa

President
Director,Senior Executive Officer and Manager of General Affair
Department

Contact: Yasutaka Okita

Phone: +81-82-252-3000
Scheduled date of Annual General Meeting of Shareholders: June 24, 2024
Scheduled date of commencing dividend payments: June 4, 2024
Scheduled date of filing annual securities report: June 25, 2024
Availability of supplementary briefing material on annual financial results: No
Schedule of annual financial results briefing session: Yes(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2024 (April 1, 2023 to March 31, 2024)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Millions of yen%
Millions of yen%
Millions of yen%
Millions of yen%
Fiscal year ended
March 31, 2024
90,670(4.8)
3,185(54.6)
3,375(54.5)
2,329(55.3)March 31, 2023
95,219
24.0
7,021
118.9
7,412
60.6
5,216
42.4
(Note) Comprehensive income:Fiscal year ended March 31, 2024:¥
3,514 million [1.9%]
Fiscal year ended March 31, 2023:¥
3,448 million [(39.7) %]Basic earnings per Diluted earnings per Rate of return on
share
share
equityYen
Fiscal year ended
March 31, 2024
34.03
March 31, 2023
76.35
(Reference) Equity in earnings (losses) of affiliated companies:

Yen

Ordinary profit tototal assets ratio

%

3.5
8.3
Fiscal year ended March 31, 2024:
Fiscal year ended March 31, 2023:

Operating profit to
net sales ratio

%

%

2.4
5.6
¥
¥

3.5
7.4
(98) million
104 million(2) Consolidated Financial Position
Total assets
As ofMarch 31, 2024
March 31, 2023
(Reference) Equity:

Net assets

Millions of yen

137,628
141,996
As of March 31, 2024:
As of March 31, 2023:

Capital adequacy ratio

Millions of yen¥¥

70,512
67,86067,128 million
64,539 million

Net assets per share

%

Yen

48.8
45.5

980.15943.96(3) Consolidated Cash Flows
Cash flows fromoperating activities
Fiscal year ended
March 31, 2024
March 31, 2023

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at the endof period

Millions of yen

Millions of yen

Millions of yen

Millions of yen

14,8308,947(9,681)(7,062)(13,169)
13,60825,51833,535

2. Dividends
Annual dividends
1st
2nd
3rd
quarter-end quarter-end quarter-end

Year-end

Total
dividends

Total

Fiscal year ended

Yen

Yen

Yen

Yen

March 31, 2023

-

5.00

-

7.00

12.00

March 31, 2024

-

6.00

-

6.00

12.00

-

6.00

-

6.00

12.00

Payoutratio(consolidated)

Yen Millions of yen

Dividends
to netassets(consolidated)

%

%

820

15.7

1.3

821

35.3

1.2

Fiscal year ending
March 31, 2025

54.8

(Forecast)(Note) Breakdown of the year-end dividend for the fiscal year ended March 31, 2024 :Commemorative dividend- yenSpecial dividend- yen
3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2025 (April 1, 2024 to March 31, 2025)(% indicates changes from the previous corresponding period.)
Profit attributable to Basic earnings per
Net sales
Operating profit
Ordinary profit
owners of parent
share
Full year

Millions ofyen%Millions ofyen%Millions ofyen%Millions of
yen

%

Yen

93,6003.2

2,100(34.1)

2,300(31.9)

1,500(35.6)

21.90* Notes:(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes inscope of consolidation): No
New(Company name:)
Exclusion:(Company name:)(2) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: No
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(3) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
March 31, 2024:
68,490,018 shares
March 31, 2023:
68,373,036 shares
2) Number of treasury shares at the end of the period:
March 31, 2024:
1,848 shares
March 31, 2023:
1,766 shares
3) Average number of shares outstanding during the period:
Fiscal Year ended March 31, 2024:
Fiscal Year ended March 31, 2023:

68,443,922 shares
68,320,950 shares

(Reference) Summary of Non-consolidated Financial Results
1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2024 (April 1, 2023 to March 31, 2024)(1) Non-consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net sales
Fiscal year ended
March 31, 2024
March 31, 2023

Operating profit

Ordinary profit

Net income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

70,16974,491

(5.8)
28.8

1,767
6,156

(71.3)
228.1

2,610
6,851

(61.9)
142.1

1,941
4,893

(60.3)
105.5

Basic earnings per share Diluted earnings per share
Fiscal year ended
March 31, 2024
March 31, 2023

Yen

Yen

28.37
71.63

-

(2) Non-consolidated Financial Position
Total assets
As ofMarch 31, 2024
March 31, 2023
(Reference) Equity:

Net assets

Millions of yen

113,874
118,944
As of March 31, 2024:
As of March 31, 2023:

Capital adequacy ratio

Millions of yen¥¥

47,59646,19247,596 million
46,192 million

Net assets per share

%

Yen

41.8
38.8

694.96675.62

2. Non-consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2025 (April 1, 2024 to March 31, 2025)(% indicates changes from the previous corresponding period.)
Net sales
Full year

Ordinary profit

Net income

Basic earnings per share

Millions of yen%

Millions of yen%

Millions of yen%

Yen

72,5003.3

2,000(23.4)

1,400(27.9)

20.44

Consolidated Financial Statements
Consolidated Balance Sheets(Millions of yen)
As of March 31, 2023
AssetsNon-current assets
Property, plant and equipment
Production facilities
Distribution facilities
Service and maintenance facilities
Other facilities
Construction in progress
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Retirement benefit asset
Deferred tax assets
Other investments
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Current assets
Cash and deposits
Notes receivable - trade
Accounts receivable - trade
Contract assets
Merchandise and finished goods
Raw materials and supplies
Other current assets
Allowance for doubtful accounts
Total current assets
Total assets

As of March 31, 2024

16,10230,917
4,116
7,776
5,694
64,608141

15,54331,202
4,066
10,918
5,475
67,206106

12,922
1,182
4,417
(17)
18,504
83,254

14,476
530
819
4,119
(20)
19,92587,23835,637
441
8,307
895
1,061
8,382
4,038
(22)
58,741
141,996

27,706
386
8,079
922
953
9,395
2,981
(35)
50,389137,628

(Millions of yen)
As of March 31, 2023
Liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Provision for retirement benefits for directors (andother officers)
Provision for gas holder repairs
Provision for safety measures
Provision for gas appliance warranties
Retirement benefit liability
Asset retirement obligations
Other noncurrent liabilities
Total non-current liabilities
Current liabilities
Current portion of non-current liabilities
Notes and accounts payable - trade
Income taxes payable
Commercial papers
Other current liabilities
Total 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
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

As of March 31, 2024

16,00028,12316,00027,994

315

322

532
423
233
499
234
1,016
47,378

598
420
200
310
237
933
47,017

2,761
4,847
1,845
12,0005,303
26,757
74,135

2,731
10,945179
6,241
20,098
67,115

5,246
1,216
55,430(0)61,893

5,268
1,239
56,870(0)63,378

1,271

2,406

860
527
(13)
2,646
3,320
67,860141,996

121
719
503
3,750
3,384
70,512
137,628

Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income(Millions of yen)
For the fiscal year
ended March 31, 2023
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Supply and sales expenses
General and administrative expenses
Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity
methodRevenue from CNG sales
Miscellaneous income
Total non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity
methodCommission for commitment line
Miscellaneous expenses
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of investment securities
Total extraordinary income
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

For the fiscal year
ended March 31, 2024

95,21962,69732,521

90,67061,86328,807

19,807
5,691
25,4997,021

20,231
5,390
25,621
3,185

3
174

6
196

104

-

99
260
643

101
247
551

192

188

-

98

36
23
252
7,412

52
21
361
3,375

62
62
7,475
2,358
(234)
2,124
5,351
134
5,216

58
58
3,433
968
54
1,023
2,409
80
2,329

Consolidated Statements of Comprehensive Income(Millions of yen)
For the fiscal year
ended March 31, 2023
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to non-controllinginterests

For the fiscal year
ended March 31, 2024

5,351

2,409

(55)
(2,444)
131

1,135
(719)
517

465

171

(1,902)
3,448

1,104
3,514

3,313

3,433

134

80

Consolidated Statements of Changes in Equity
For the fiscal year ended March 31, 2023
(Millions of yen)
Shareholders' equity
Share capital Capital surplus
Balance at beginningof period
Changes during
periodIssuance of newsharesDividends ofsurplusProfit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesChange inownership interestof parent due totransactions with
non-controllinginterests
Net changes in
items other thanshareholders' equity
Total changes
during period
Balance at end of
period

5,225

1,195

21

21

Retainedearnings
50,897

Total
shareholders'equityTreasuryshares(0)57,318

42
(683)

(683)

5,216

5,216

0

(0)

(0)

0

0

-

21

21

4,533

(0)

4,575

5,246

1,216

55,430(0)61,893

Accumulated other comprehensive income
Valuation
Deferred gains
difference onor losses onavailable-for-salehedgessecurities
Balance at beginningof period
Changes during
periodIssuance of newsharesDividends ofsurplusProfit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesChange inownership interestof parent due totransactions with
non-controllinginterests
Net changes in
items other thanshareholders' equity
Total changes
during period
Balance at end of
period

1,327

3,212

Foreigncurrencytranslation
adjustment
154

Total
Remeasurements accumulatedof definedotherbenefit plans comprehensive
income
(145)

4,549

Noncontrollinginterests

Total net assets

3,199

65,067

42
(683)
5,216
(0)
0

-

(55)

(2,352)373

131(1,903)120(1,782)(55)(2,352)373

131(1,903)

120

2,793

1,271

860

527

(13)

2,646

3,320

67,860For the fiscal year ended March 31, 2024
(Millions of yen)
Shareholders' equity
Share capital Capital surplus
Balance at beginningof period
Changes during
periodIssuance of newsharesDividends ofsurplusProfit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesChange inownership interestof parent due totransactions with
non-controllinginterests
Net changes in
items other thanshareholders' equity
Total changes
during period
Balance at end of
period

5,246

1,216

21

21

Retainedearnings
55,430Total
shareholders'equityTreasuryshares(0)61,893

43
(889)

(889)

2,329

2,329
(0)

(0)
-

0

0

21

22

1,439

(0)

1,484

5,268

1,239

56,870(0)63,378

Accumulated other comprehensive income
Valuation
Deferred gains
difference onor losses onavailable-for-salehedgessecurities
Balance at beginningof period
Changes during
periodIssuance of newsharesDividends ofsurplusProfit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesChange inownership interestof parent due totransactions with
non-controllinginterests
Net changes in
items other thanshareholders' equity
Total changes
during period
Balance at end of
period1,271

860

Foreigncurrencytranslation
adjustment
527

Total
Remeasurements accumulatedof definedotherbenefit plans comprehensive
income(13)

2,646

Noncontrollinginterests

Total net assets

3,320

67,860

43
(889)
2,329
(0)
-

0

1,134

(738)

191

517

1,104

63

1,167

1,134

(738)

191

517

1,104

63

2,652

2,406

121

719

503

3,750

3,384

70,512

Consolidated Statements of Cash Flows(Millions of yen)
For the fiscal year
ended March 31, 2023
Cash flows from operating activities
Profit before income taxes
Depreciation
Increase (decrease) in retirement benefit liability
Increase (decrease) in allowance for doubtful accounts
Interest and dividend income
Interest expenses
Loss (gain) on sale of investment securities
Share of loss (profit) of entities accounted for using
equity method
Decrease (increase) in accounts receivable - trade, andcontract assets
Decrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in accrued consumption taxes
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of investment securities
Proceeds from sale of investment securities
Proceeds from capital reduction of investment
securities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Loan advances
Proceeds from collection of loans receivable
Purchase of long-term prepaid expenses
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Increase (decrease) in commercial papers
Proceeds from long-term borrowings
Repayments of long-term borrowings
Redemption of bonds
Net decrease (increase) in treasury shares
Dividends paid
Dividends paid to non-controlling interests
Purchase of shares of subsidiaries not resulting inchange in scope of consolidation
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

For the fiscal year
ended March 31, 2024

7,475
7,312
6
(7)
(177)
192
(62)

3,433
7,352
9
15
(202)
188
(58)

(104)

98

(1,628)256(3,559)
(108)
40
548
9,927
186
(185)
(980)
8,947

(904)
6,098
201
1,004
17,495210(188)(2,688)
14,830

(17)
70

(26)
91

1,750

-

(8,542)
17
(80)
20
(177)
(101)
(7,062)(9,460)
11
(94)
82
(193)
(91)
(9,681)

6,000
14,200(799)(5,000)
(0)
(683)
(14)

(12,000)
2,500(2,661)
(0)
(889)
(14)

-

(2)

(93)
13,608(102)(13,169)9215,504
18,03133,535(8,017)33,53525,518

Non-consolidated Financial Statements
Non-consolidated Balance Sheets(Millions of yen)
As of March 31, 2023
AssetsNon-current assets
Property, plant and equipment
Production facilities
Distribution facilities
Service and maintenance facilities
Facilities for incidental businesses
Construction in progress
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Investments in subsidiaries and associates
Long-term loans receivable from subsidiaries
and associates
Long-term prepaid expenses
Deferred tax assets
Other investments
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Current assets
Cash and deposits
Notes receivable - trade
Accounts receivable - trade
Accounts receivable from subsidiaries andassociates - trade
Accounts receivable - otherFinished goods
Raw materials
Supplies
Prepaid expenses
Short-term receivables from subsidiaries andassociates
Other current assets
Allowance for doubtful accounts
Total current assets
Total assets

As of March 31, 2024

14,10229,008
4,393
877
5,663
54,046103

13,74029,574
4,335
3,990
5,381
57,021
49

4,535
5,123

5,887
5,123

2,763

2,361

3,119
396
62
(10)
15,99070,140

2,842
271
64
(10)
16,54073,611

29,769255
6,273

21,616
202
5,887

665

560

673
43
7,679
495
15

693
45
8,655
545
15

584

775

2,381
(33)
48,803
118,944

1,298(33)
40,263
113,874(Millions of yen)
As of March 31, 2023
Liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Provision for retirement benefits
Provision for gas holder repairs
Provision for safety measures
Provision for gas appliance warranties
Asset retirement obligations
Other noncurrent liabilities
Total non-current liabilities
Current liabilities
Current portion of non-current liabilities
Accounts payable - trade
Accounts payable - otherAccrued expenses
Income taxes payable
Advances received
Deposits received
Short-term debt to subsidiaries and associates
Commercial papers
Other current liabilities
Total current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Legal capital surplus
Other capital surplus
Total capital surplus
Retained earnings
Legal retained earnings
Other retained earnings
Reserve for tax purpose reduction entry of
non-current assets
General reserve
Retained earnings brought forward
Total retained earnings
Treasury shares
Total shareholders' equity
Valuation and translation adjustments
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Total valuation and translation adjustments
Total net assets
Total liabilities and net assets

As of March 31, 2024

16,00028,063
364
532
423
233
30
946
46,59416,00027,994
314
598
420
200
30
845
46,403

2,687
1,895
1,021
1,731
1,599
205
206
4,561
12,000246
26,15672,751

2,671
7,451
1,600
1,961
32
358
203
5,594
19,874
66,277

5,246

5,268

937
269
1,207

959
269
1,229

729

729

9

9

12,01025,26738,016(0)44,47012,01026,32039,069(0)45,566

1,003

2,029

719
1,722
46,192
118,944

02,029
47,596
113,874

Non-consolidated Statements of Income(Millions of yen)
For the fiscal year
ended March 31, 2023
Sales from gas business
Gas sales
Total sales from gas business
Cost of sales
Beginning inventories
Cost of products manufactured
Costs of gas for own use
Ending inventories
Total cost of sales
Gross profit
Supply and sales expenses
General and administrative expenses
Total selling, general and administrative expenses
Profit on core business
Miscellaneous operating revenue
Revenue from installation work
Other miscellaneous operating revenue
Total miscellaneous operating revenue
Miscellaneous operating expenses
Installation work expenses
Other miscellaneous operating expenses
Total miscellaneous operating expenses
Revenue from incidental businesses
Expenses for incidental businesses
Operating profit
Non-operating income
Interest income
Interest on securities
Dividend income
Dividends from subsidiaries and affiliates
Rental income
Miscellaneous income
Total non-operating income
Non-operating expenses
Interest expenses
Interest expenses on bonds
Amortization of share issuance costs
Commission for commitment line
Miscellaneous expenses
Total non-operating expenses
Ordinary profit

For the fiscal year
ended March 31, 2024

65,68365,683

61,896
61,89628
43,2101,119
43
42,076
23,607
14,834
4,314
19,1484,458

4342,8081,053
45
41,752
20,14415,003
4,046
19,050
1,094

1,128
3,975
5,104

1,244
3,209
4,453

1,289
2,697
3,987
3,703
3,121
6,156

1,496
2,677
4,173
3,818
3,425
1,767

21
0
149
180
160
432
945

24
0
162
336
162
419
1,105

117
73
0
36
24
250
6,851

126
60
0
52
22
262
2,610

(Millions of yen)
For the fiscal year
ended March 31, 2023
Extraordinary income
Gain on sale of investment securities
Total extraordinary income
Extraordinary losses
Loss on valuation of shares of subsidiaries andassociates
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit

For the fiscal year
ended March 31, 2024

62
62

49
49

60

-

60
6,853
1,995
(35)
1,959
4,893

2,660
648
70
718
1,941