Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy
between this translated document and the Japanese original, the original shall prevail.

April 12, 2024

Non-consolidated Financial Results
for the Three Months Ended February 29, 2024
(Under Japanese GAAP)
Company name: T&S inc.
Listing:
Tokyo Stock Exchange
Securities code:4055
URL:
https://www.tecsvc.co.jp/
Representative:
Yoshihiro Takekawa, President and CEO
Inquiries:
Hiroshi Kinoshita, Director, Executive Officer and General Manager of Corporate Division
Telephone:+81-45-263-8286
Scheduled date to file quarterly securities report:
April 12, 2024
Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results: Yes
Holding of quarterly financial results briefing:
None(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Non-consolidated financial results for the three months ended February 29, 2024
(from December 1, 2023 to February 29, 2024)(1) Non-consolidated operating results (cumulative)
Net sales(Percentages indicate year-on-year changes.)

Operating profit

Ordinary profit

ProfitThree months ended

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%February 29, 2024

837

4.0

138(3.7)

138(3.5)100(0.2)

February 28, 2023

806

9.9

143

13.3

143

13.2

100

13.7

Basic earnings
per share

Diluted earnings
per share

Three months ended

Yen

Yen

February 29, 2024

13.29

13.22

February 28, 2023

13.37

13.24

(2) Non-consolidated financial position
Total assets
As ofNet assets

Equity-to-asset ratio

Millions of yen

Millions of yen

February 29, 2024

2,5962,21485.3

November 30, 2023

2,616

2,163

82.7

Reference:

EquityAs of February 29, 2024:
As of November 30, 2023:¥ 2,214 million¥ 2,163 million%

2. Cash dividends
Annual dividends per shareFirst quarter-end

Second quarter-end

Third quarter-end

Yen

Yen

Yen

Fiscal year ended
November 30, 2023
Fiscal year ending
September 30, 2024-

Fiscal year-end

Total

Yen

Yen

0.00

-

6.55

6.55

0.00

-

7.00

7.00

-

Fiscal year ending
September 30, 2024
(Forecast)

Note: Revisions to the forecast of cash dividends most recently announced: None

3. Earnings Forecast of Fiscal year ending on September 30, 2024
(from December 1, 2023 to September 30, 2024)
OperatingprofitNet sales
Full-year
Note:

Millions of yen%

Millions of yen

3,142-588(Percentages indicate year-on-year changes)
Basic earnings
Profitper shareOrdinary
profit% Millions of yen% Millions of yen%

Yen---

52.86589

401

Revisions to the earnings forecast most recently announced: None
Following the approval of the "Partial Amendment to the Articles of Incorporation" at the 8th Ordinary General Meeting ofShareholders to be held on February 28, 2024, the fiscal year end has changed. The current fiscal year, which is a transitionalperiod, is an irregular settlement for 10 months from December 1, 2023 to September 30, 2024. For this reason, thepercentage change from the previous fiscal year for the full year is not described.

* Notes(1) Adoption of accounting treatment specific to the preparation of quarterly non-consolidated financial
statements: None
(2) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: None(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
(3) Number of issued shares (common shares)(i)

Total number of issued shares at the end of the period (including treasury shares)
As of February 29, 2024

7,633,200 shares

As of November 30, 2023

7,633,200 shares(ii) Number of treasury shares at the end of the period
As of February 29, 2024

54,840 shares

As of November 30, 2023

54,800 shares(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscalyear)
Three months ended February 29, 2024

7,578,384 shares

Three months ended February 28, 2023

7,547,787 shares* Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants
or an audit corporation.

Quarterly financial statements
Quarterly balance sheet(Thousands of yen)
As of November 30, 2023
AssetsCurrent assets
Cash and deposits
Accounts receivable - trade and contract assets
Work in process
Accounts receivable - other
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Accounts payable - trade
Income taxes payable
Provision for bonuses
Other
Total current liabilities
Non-current liabilities
Provision for retirement benefits
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equityTotal net assets
Total liabilities and net assets

As of February 29, 2024

1,721,266
434,644
12,942
268,606
16,485(1,800)2,452,145

1,637,665
407,032
31,423
240,554
15,988(1,600)2,331,064

19,481
1,609
143,225
164,315
2,616,461

18,634
1,474
245,027
265,1362,596,201

170,884
79,732
7,023
138,179
395,820

160,362
30,132
27,328105,639
323,462

57,392
57,392453,21258,47758,477
381,939

340,783
266,6621,629,556(73,753)
2,163,249
2,163,249
2,616,461

340,783
266,662
1,680,661(73,845)2,214,261
2,214,261
2,596,201

Quarterly income statements
Cumulative of three months ended(Thousands of yen)Three months ended
February 28, 2023
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Miscellaneous income
Total non-operating income
Non-operating expenses
Commission expenses
Other
Total non-operating expenses
Ordinary profit
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitThree months endedFebruary 29, 2024

806,016
559,687
246,328
102,910
143,418

837,993595,460
242,533
104,386
138,146

2
0
2

4
297
301

173
0
173
143,246
143,246
14,57027,75942,329100,916188
0
188
138,260
138,260
30,133
7,383
37,516
100,743