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.

May 10, 2024

Summary of Consolidated Financial Results
For the Year Ended March 31, 2024
(Under Japanese GAAP)
Company name:
LEC, Inc.
Stock exchange listing: Tokyo Stock Exchange, Prime Market
Stock code:
7874
URL:
https://www.lecinc.co.jp/en
Representative:
Takaki Nagamori, President
Inquiries:
Hideo Masuda, Director, Managing Executive Officer
Telephone:+81-3-3527-2150
Scheduled date of ordinary general meeting of shareholders:June 26, 2024
Scheduled date for commencement of dividend payments:
June 6, 2024
Scheduled date for filing securities report:
June 26, 2024
Supplementary information for the financial statements to be prepared: None
Meeting to explain the financial statements to be held: Yes (for institutional investors and analysts)(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated Financial Results for the Year Ended March 31, 2024 (from April 1, 2023 to March 31, 2024)(1) Consolidated Results of Operations(Percentage figures denote change from the previous year.)
Profit attributable toOperating profit
Ordinary profit
owners of parent

Net salesYear Ended March 31,2024
Year Ended March 31,2023
Note: Comprehensive income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

60,783

9.6

1,628

78.7

1,687

55.9

796

(15.5)

55,4617.9

911(71.6)

1,082(67.3)

942(58.7)

Year Ended March 31, 2024: ¥1,864 million [43.5%]
Year Ended March 31, 2023: ¥1,298 million [(48.1)%]
Basic earnings
per share

Diluted earnings
per share

Return on
equityRatio of ordinary
profit to total assets

Ratio of operating
profit to net sales

Yen

Yen

%

%

%

Year Ended March 31, 2024

22.87

22.66

2.3

1.9

2.7

Year Ended March 31, 2023

27.24

26.98

2.8

1.4

1.6

Reference: Share of profit (loss) of entities accounted for using equity method

Year Ended March 31, 2024: ¥(56) million
Year Ended March 31, 2023: ¥(74) million(2) Consolidated Financial Position
Total assets

As of March 31, 2024
As of March 31, 2023
Reference: Shareholders’ Equity

Net assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen%

Yen

89,24437,59339.8

1,019.74

84,31636,279As of March 31, 2024: ¥35,559 million
As of March 31, 2023: ¥34,432 million

40.8

993.22

(3) Consolidated Cash Flows
Cash flows fromoperating activities

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash equivalents
at end of period

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Year Ended March 31, 2024

5,941

(2,254)

2,252

20,394

Year Ended March 31, 2023

3,370

(7,420)6,850

14,405

2. Dividends
Annual dividends per share

Year Ended
March 31, 2023
Year Ended
March 31, 2024
Year Ending
March 31, 2025
(Estimate)

Total cash
dividends

Payout ratio

Ratio ofdividends to
net assets

Firstquarter-end

Secondquarter-end

Thirdquarter-end

Yen

Yen

Yen

Yen

Yen

Millions of yen

%

%

―

10.00

―

10.00

20.00

712

73.4

2.0

―

10.00

―

10.00

20.00

715

87.4

2.0

―

10.00

―

10.00

20.00

Year-end

Total(Consolidated)(Total)(Consolidated)

139.5

3. Forecast for the Year Ending March 31, 2025 (from April 1, 2024 to March 31, 2025)(Percentage figures denote change from the same period in the previous year)
Net salesFirst half
Full Year

Operating profit

Profit attributableto owners of parent

Ordinary profit

Basic earnings
per share

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

30,60063,000

3.1
3.6

500
1,000

(46.6)(38.6)

500
1,000(51.9)(40.7)

280500(41.0)(37.2)

8.02
14.33

* Notes(1) Changes in significant subsidiaries during the period (Changes in specified subsidiaries resulting in changes inthe scope of consolidation): None
New : 0Excluded : 0(2) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions of accounting standards and other regulations: None(ii) Changes in accounting policies other than (ⅰ): 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 stock)
Year Ended March 31, 2024

38,165,340 sharesYear Ended March 31, 2023

38,165,340 shares(ii) Number of treasury stock at the end of the period
Year Ended March 31, 2024

3,294,292 sharesYear Ended March 31, 2023

3,497,492 shares(iii) Average number of shares outstanding during the period
Year Ended March 31, 2024

34,791,753 sharesYear Ended March 31, 2023

34,590,102 shares

Reference: Summary of Non-consolidated Results
1. Non-consolidated Financial Results for the Year Ended March 31, 2024 (from April 1, 2023 to March 31,2024)(1) Non-consolidated Results of Operations(Percentage figures denote change from the previous year.)Net sales

Operating profit

Millions of yen

Year Ended March 31,2024
Year Ended March 31,
2023%

Ordinary profit

Millions of yen%

Millions of yen%

Millions of yen

%

2,129

73.4

911

117.5

1,228

(65.2)

418(85.0)

54,835

10.4

2,073

139.
1

49,6795.8

867(72.7)

Basic earnings per
share

ProfitDiluted earnings per
share

Yen

Yen

Year Ended March 31, 2024

26.18

25.94

Year Ended March 31, 2023

12.11

11.99

(2) Non-consolidated Financial Position
Total assets

Net assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen%

Yen82,62433,99440.9

968.95

As of March 31, 2023
77,92932,833
Reference: Shareholders’ Equity As of March 31, 2024: ¥33,788 million
As of March 31, 2023: ¥32,626 million

41.9

941.12As of March 31, 2024

* Financial results reports are exempt from audit conducted by certified public accountants or an audit
corporation.
* Explanation of the appropriate use of business forecasts and other remarks
Business forecasts contained in this report are based on information available to the Company and on a certain
assumption the Company considers reasonable on the date of this report’s announcement, and it does notconstitute the Company’s intention to promise the accomplishment of the forecasts. Actual results may differ
significantly from such forecasts due to various risks and uncertainties. For more information regarding
assumptions made when formulating earnings projections and matters to note when using these projections,please see “(4) Future Outlook” on page three of the accompanying materials.
In addition, the Company has introduced ESOP, and the Company shares owned by ESOP are included intreasury stock.

LEC, Inc. (7874) Financial Results for the FY3/24

Accompanying Materials ― Contents
1. Overview of Operating Results, etc............................................................................................................................. 2(1) Overview of Operating Results for the Fiscal Year under Review ........................................................................ 2(2) Overview of Financial Position for the Fiscal Year under Review ........................................................................ 2(3) Overview of Cash Flows for the Fiscal Year under Review .................................................................................. 2(4) Future Outlook ....................................................................................................................................................... 3
2. Basic Policy on Selection of Accounting Standards ................................................................................................... 4
3. Consolidated Financial Statements and Primary Notes ............................................................................................... 5(1) Consolidated Balance Sheet ................................................................................................................................... 5(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income ................................ 7
Consolidated Statement of Income ......................................................................................................................... 7
Consolidated Statement of Comprehensive Income ............................................................................................... 8(3) Consolidated Statement of Changes in Equity ....................................................................................................... 9(4) Consolidated Statements of Cash Flows .............................................................................................................. 11(5) Notes to Financial Statements ............................................................................................................................... 12(Notes to going concern assumptions).................................................................................................................. 12(Segment information, etc.) ................................................................................................................................. 12(Per share information) ........................................................................................................................................ 12(Significant subsequent events) ........................................................................................................................... 13
4. Others ........................................................................................................................................................................ 13
Changes in Officers ................................................................................................................................................... 131

LEC, Inc. (7874) Financial Results for the FY3/24

1. Overview of Operating Results, etc.
(1) Overview of Operating Results for the Fiscal Year under Review
During the fiscal year under review, the Japanese economy has been on a moderate recovery trend due to progressin the normalization of economic activities following the removal of restrictions on movement caused by the COVID19 pandemic. On the other hand, future prospects remain uncertain due to factors such as the prolonged invasion of
Ukraine, the deterioration of the situation in the Middle East region, sustained high prices for energy and raw materials,
and the acceleration of the yen’s depreciation associated with tightening monetary policy amid global inflationarypressure.
In the Household Products Business, the industry LEC Group belongs to, the business environment remained severe
as consumers continued to be budget-minded due to real wages remaining in negative territory because of rising prices,
despite an increase in nominal wages.
In this environment, the LEC Group focused on initiatives such as the development of character goods of choicethat are tailored to the tastes of consumers and the stable supply of products that respond to consumers’ desire to savemoney, and expanded its business by holding promotional events including new product announcements. We also
focused on improving productivity by updating products and revamping operational processes and made company-wide
efforts to reduce costs to cope with higher procurement costs due to the depreciation of the yen and soaring raw material
prices, as well as gradually rising domestic transportation costs.
As a result of the above, net sales during the fiscal year under review amounted to 60,783 million yen, (up 9.6%
year on year) due to increased sales of new products and other factors. Operating profit was 1,628 million yen (up78.7% year on year) and ordinary profit was 1,687 million yen (up 55.9% year on year) due to the effect of increased
revenue and cost reduction, etc., despite increases in various costs including raw materials and import expenses. Profit
attributable to owners of parent was 796 million yen (down 15.5% year on year).
Results by product category are as follows.
(Millions of yen)
Product Category
Household products
Cleaning/Sanitary consumables
Others
Total

Previous period
Apr.1, 2022-Mar.31, 2023
24,34921,494
9,618
55,461

Current period
Apr.1, 2023-Mar.31, 2024
25,247
24,425
11,11160,783Year-over-year
3.7%
13.6%
15.5%
9.6%

Notes: Representative products of each product category are as follows:
Household products…Plastic products, Chemical synthetic products, Metal products, Textile products, etc.
Cleaning ･ Sanitary consumables …Paper/Water/Urethane cleaning consumables, Nonwoven fabric sanitary consumables, Detergents, etc.
Others…Anti-insect/virus products, Cosmetics, Home appliances, Food, etc.

(2) Overview of Financial Position for the Fiscal Year under Review
As of March 31, 2024, total assets increased 4,927 million yen from the end of the previous fiscal year to 89,244
million yen.
Current assets increased 5,269 million yen from the end of the previous fiscal year to 57,455 million yen, mainly
due to an increase of 6,490 million yen in cash and deposits, and a decrease of 1,332 million yen in securities.
Non-current assets decreased 342 million yen from the end of the previous fiscal year to 31,788 million yen, mainly
due to a 1,501 million yen increase in investments and other assets, and a 1,625 million yen decrease in property, plantand equipment.
Liabilities increased 3,613 million yen from the end of the previous fiscal year to 51,650 million yen.
Current liabilities increased 632 million yen from the end of the previous fiscal year to 12,111 million yen. Thiswas mainly due to an increase of 639 million yen in income taxes payable.
Non-current liabilities increased 2,980 million yen from the end of the previous fiscal year to 39,539 million yen,mainly due to a 2,974 million yen increase in long-term borrowings.
Net assets increased 1,314 million yen from the end of the previous fiscal year to 37,593 million yen. This was
mainly due to an 880 million yen increase in accumulated other comprehensive income.

(3) Overview of Cash Flows for the Fiscal Year under Review
As of March 31, 2024, cash and cash equivalents (hereinafter “cash”) increased 5,988 million yen from the end of
the previous fiscal year to 20,394 million yen.
2

LEC, Inc. (7874) Financial Results for the FY3/24

The details of cash flows from each activity and the major components of changes are as follows.
(Cash flows from operating activities)
Net cash provided by operating activities was 5,941 million yen (compared with 3,370 million yen provided in theprevious fiscal year). The main increasing factors were 4,364 million yen in depreciation and 1,681 million yen in profit
before income taxes, while the major decreasing factor was a 959 million yen increase in trade receivables.
(Cash flows from investing activities)
Net cash used in investing activities was 2,254 million yen (compared with 7,420 million yen used in the previous
fiscal year). The main increasing factor was 1,800 million yen in proceeds from sale and redemption of securities, while
the major decreasing factors were 2,736 million yen for purchase of property, plant and equipment, and 800 million yen
for purchase of short-term and long-term investment securities.
(Cash flows from financing activities)
Net cash provided by financing activities was 2,252 million yen (compared with 6,850 million yen provided in theprevious fiscal year). The main increasing factor was 8,523 million yen in proceeds from long-term borrowings, while
the major decreasing factors were 5,643 million yen for repayments of long-term borrowings and 713 million yen for
dividends paid.
Reference: Trends in cash flow indicators
FY3/20FY3/21

FY3/22

FY3/23

FY3/24Equity-to-asset ratio (%)

46.1

47.4

45.5

40.8

39.8

Equity-to-asset ratio on markto-market basis (%)

58.5

63.0

40.7

33.1

43.6

Ratio of interest-bearing debt tocash flow (years)

4.0

4.9

9.7

12.3

7.5

Interest coverage ratio (times)

89.4

64.2

35.4

21.7

29.7

Notes: 1. Each indicator is calculated using consolidated financial figures and the following formulas:
Equity-to-asset ratio: Equity/Total assets
Equity-to-asset ratio on mark-to-market basis: Market capitalization/Total assets
Ratio of interest-bearing debt to cash flow: Interest-bearing debt/Cash flows from operating activities
Interest coverage ratio: Cash flows from operating activities/Interest payment
2. Market capitalization is calculated by multiplying the closing share price at the end of the period by the number
of issued shares at the end of the period (excluding treasury shares).
3. Interest-bearing debt refers to all liabilities recorded in the consolidated balance sheet at the end of the periodthat are subject to interest payments.
4. Cash flows from operating activities and interest payment are taken from “Cash flows from operating activities”
and “Interest paid” in the consolidated statements of cash flows.

(4) Future Outlook
In the next fiscal year, the outlook for the Japanese economy is expected to remain uncertain due to factors such as
fluctuations in exchange rates and rising prices of energy and raw materials, driven by the prolonged situation in Ukraine
and the Middle East, as well as concerns about the future of the Chinese economy.
In the Household Products Business, consumer sentiment remains stagnant due to rising prices, while various costs
such as energy, raw material, and transportation-related expenses continue to remain high. As a result, the businessenvironment is expected to be challenging.
Under these circumstances, the LEC Group will focus on developing products that cater to diversifying tastes andpreferences, with an emphasis on functionality, quality, and design. We will also strive to expand our business byentering new business areas, and we will make efforts to reduce costs through thorough business efficiency andproductivity improvements.
Based on these conditions, for the full-year consolidated financial results, we forecast net sales of 63,000 million
yen (up 3.6% year on year), operating profit of 1,000 million yen (down 38.6% year on year), ordinary profit of 1,000
million yen (down 40.7% year on year), and profit attributable to owners of parent of 500 million yen (down 37.2%
year on year). Although we will focus on improving profitability through the launch of new products, renewal of existing3

LEC, Inc. (7874) Financial Results for the FY3/24

products, and improvement of factory productivity, an increase in costs due to the progress of yen depreciation isinevitable.
LEC positions the return of profits to shareholders as an important management issue. Our basic policy is tocontinue appropriate profit distribution backed by business performance, after considering the enhancement of internal
reserves necessary for capital investment to expand our business and develop new businesses. Regarding dividends, ourpolicy is to pay dividends from surplus with a target consolidated dividend payout ratio of 20%.
Based on the above policy, the year-end dividend for the fiscal year under review was set at 10.00 yen per share,
deeply regrettable as that decision was, considering the performance for the fiscal year. Together with the interim
dividend (10.00 yen per share) already paid, the annual dividend came to 20 yen.
For the next fiscal year, we plan to pay a dividend of 20 yen per share (including an interim dividend of 10.00 yen),based on the earnings forecast and other factors.

2. Basic Policy on Selection of Accounting Standards
The LEC Group plans to prepare its consolidated financial statements using the Japanese GAAP for the time being,taking into consideration the comparability of consolidated financial statements across periods and among companies.
We plan to appropriately address the adoption of the International Financial Reporting Standards upon consideringvarious circumstances in Japan and overseas.

4LEC, Inc. (7874) Financial Results for the FY3/24

3. Consolidated Financial Statements and Primary Notes(1) Consolidated Balance Sheet(Millions of yen)
FY3/23(As of Mar. 31, 2023)
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Securities
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
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net
Land
Leased assets
Accumulated depreciation
Leased assets, net
Construction in progress
Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

5

FY3/24(As of Mar. 31, 2024)

26,510
9,713
1,802
9,162
657
2,665
1,680
(6)
52,18533,001
10,686
470
9,457
619
2,317
907
(4)
57,455

15,675(7,591)
8,083
15,745(8,594)
7,151
4,920
1,912
(479)
1,433
1,994
16,935(15,595)
1,339
24,922

16,056(8,225)
7,831
15,664(9,912)
5,752
5,242
1,934
(589)
1,344
2,036
18,101(17,012)
1,088
23,296

117
566
683

4
461
465

5,031
329
1,163
(0)
6,524
32,13084,316

6,645
295
1,085
(0)
8,026
31,78889,244

LEC, Inc. (7874) Financial Results for the FY3/24(Millions of yen)
FY3/23(As of Mar. 31, 2023)
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Current portion of long-term borrowings
Lease liabilities
Income taxes payable
Provision for product warranties
Provision for bonuses
Provision for loss on disaster
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Lease liabilities
Provision for share awards
Retirement benefit liability
Asset retirement obligations
Deferred tax liabilities
Other
Total non-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-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets

6

FY3/24(As of Mar. 31, 2024)

2,288
200
5,398
113
150
8
386
35
2,899
11,479

2,242
400
5,303
108
790
34
404
35
2,792
12,111

34,055
1,524
273
361
27
―
314
36,55848,03737,030
1,439
269
312
27
121
338
39,53951,6505,491
7,211
21,573(2,107)32,1695,491
7,236
21,655(1,967)32,415

1,372
252
681
(43)
2,263
206
1,640
36,27984,316

2,425
2
759
(43)
3,143
206
1,828
37,59389,244

LEC, Inc. (7874) Financial Results for the FY3/24(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income
Consolidated Statement of Income(Millions of yen)
FY3/23(Apr. 1, 2022 – Mar. 31, 2023)

FY3/24(Apr. 1, 2023 – Mar. 31, 2024)

55,46140,864
14,597
13,686
911

60,78344,59016,193
14,564
1,628

19
89
85
23
58
141
417

57
98
―
59
66
147
429

148

204

74

56

―
22
246
1,082

74
34
370
1,687

―
564
―

60
―
―

249

―

813

60

93
6
99
1,796
257
454
712
1,083
141
942

15
50
65
1,681
811
(114)
697
984
188
796

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Foreign exchange gains
Outsourcing service income
Subsidy income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity
methodForeign exchange losses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of investment securities
Subsidy income
Corporate attracting subsidy
Gain on reversal of foreign currency translation
adjustment
Total extraordinary income
Extraordinary losses
Impairment losses
Loss on retirement of non-current assets
Total extraordinary losses
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

7

LEC, Inc. (7874) Financial Results for the FY3/24

Consolidated Statement of Comprehensive Income(Millions of yen)
FY3/23(Apr. 1, 2022 – Mar. 31, 2023)

FY3/24(Apr. 1, 2023 – Mar. 31, 2024)

1,083

984

295
30
(102)
(7)
215
1,298

1,052
(250)
78
(0)
880
1,864

1,157

1,676

140

187

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
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

8LEC, Inc. (7874) Financial Results for the FY3/24(3) Consolidated Statement of Changes in Equity
Fiscal year ended March 31, 2023 (Apr. 1, 2022 – Mar. 31, 2023)(Millions of yen)
Shareholders’ equity
Share capital

Capital surplus

Retained earnings

7,232

21,445

5,491

Balance at beginning of period
Cumulative effects of changes
in accounting policies
Restated balance
Changes during period
Dividends of surplus
Profit attributable to owners ofparentPurchase of treasury shares
Disposal of treasury shares
Purchase of shares of
consolidated subsidiaries
Other
Net changes in items otherthan shareholders' equity
Total changes during period
Balance at end of period

Total shareholders'equity(2,240)31,929Treasury shares

―
5,491

7,232

21,445(2,240)31,929

(816)

(816)

942

942
(0)
133

0

(0)
134

(22)

(22)
1

―
5,491

(21)
7,211

1

127
21,573133(2,107)239
32,169

Accumulated other comprehensive income
Valuation
Deferred gains
difference onor losses onavailable-forhedges
sale securities

Balance at beginning of period
Cumulative effects of changes
in accounting policies
Restated balance
Changes during period
Dividends of surplus
Profit attributable to owners ofparentPurchase of treasury shares
Disposal of treasury shares
Purchase of shares of
consolidated subsidiaries
Other
Net changes in items otherthan shareholders' equity
Total changes during period
Balance at end of period

1,077

Foreigncurrencytranslation
adjustment

222

784

Total
Share
NonTotal net
Remeasurements accumulatedacquisition controllingof definedotherassetsrightsinterests
benefit plans comprehensive
income

(35)

2,048

206

1,570

35,753
―

1,077

222

784

(35)

2,048

206

1,570

35,753
(816)
942
(0)
134
(22)
1

295

30

(102)

(7)

215

―

70

286

295
1,372

30
252

(102)
681

(7)
(43)

215
2,263

―
206

70
1,640

525
36,2799LEC, Inc. (7874) Financial Results for the FY3/24

Fiscal year ended March 31, 2024 (Apr. 1, 2023 – Mar. 31, 2024)(Millions of yen)
Shareholders’ equity
Share capital

Capital surplus

Retained earnings

7,211

21,573

5,491

Balance at beginning of period
Cumulative effects of changes
in accounting policies
Restated balance
Changes during period
Dividends of surplus
Profit attributable to owners ofparentPurchase of treasury shares
Disposal of treasury shares
Purchase of shares of
consolidated subsidiaries
Other
Net changes in items otherthan shareholders' equity
Total changes during period
Balance at end of period

Total shareholders'equity(2,107)32,169Treasury shares

―
5,491

7,211

21,573(2,107)32,169

(713)

(713)

796

796
―
139

24

―
164

―

―
―

―
5,491

24
7,236

82
21,655139(1,967)

246
32,415

Accumulated other comprehensive income
Valuation
Deferred gains
difference onor losses onavailable-forhedges
sale securities

Balance at beginning of period
Cumulative effects ofchanges in accounting
policies
Restated balance
Changes during period
Dividends of surplus
Profit attributable to ownersof parent
Purchase of treasury shares
Disposal of treasury shares
Purchase of shares of
consolidated subsidiaries
Other
Net changes in items otherthan shareholders' equity
Total changes during period
Balance at end of period

1,372

252

Foreigncurrencytranslation
adjustment

681

Total
Share
NonTotal net
Remeasurements accumulatedacquisition controllingof definedotherassetsrightsinterests
benefit plans comprehensive
income

(43)

2,263

206

1,640

36,279
―

1,372

252

681

(43)

2,263

206

1,640

36,279
(713)
796
―
164
―
―

1,052

(250)

78

(0)

880

―

187

1,068

1,052
2,425

(250)
2

78
759

(0)
(43)

880
3,143

―
206

187
1,828

1,314
37,59310

LEC, Inc. (7874) Financial Results for the FY3/24(4) Consolidated Statements of Cash Flows(Millions of yen)
FY3/23(Apr. 1, 2022 – Mar. 31, 2023)
Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment losses
Amortization of goodwill
Share-based payment expenses
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for product warranties
Increase (decrease) in retirement benefit liability
Increase (decrease) in provision for share awards
Interest and dividend income
Interest expenses
Foreign exchange losses (gains)
Gain on reversal of foreign currency translation
adjustment
Subsidy income
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Decrease (increase) in other current assets
Increase (decrease) in trade payables
Increase (decrease) in other current liabilities
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Income taxes refund
Subsidies received
Proceeds from corporate attracting subsidy
Other, net
Net cash provided by (used in) operating activities
Cash flows from investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits
Proceeds from sale and redemption of securities
Purchase of property, plant and equipment
Purchase of intangible assets
Purchase of short-term and long-term investment
securities
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Proceeds from short-term borrowings
Repayments of short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Repayments of finance lease liabilities
Purchase of shares of subsidiaries not resulting in change
in scope of consolidation
Dividends paid
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

11

FY3/24(Apr. 1, 2023 – Mar. 31, 2024)

1,796
4,713
93
148
148
(40)
(0)
8
(24)
(1)
(108)
148
(34)

1,681
4,364
15
113
155
(1)
18
26
(49)
(3)
(155)
204
(20)

(249)

―

(564)
(1,633)(1,939)
523
(238)
588
59
3,393
122
(155)
(829)
―
564
241
33
3,370

―
(959)
138
150
(64)
52
42
5,708
170
(200)
(260)
399
―
―
124
5,941

(16,096)
13,712―(2,685)(31)(12,928)
12,4431,800(2,736)(42)(2,288)

(800)

(30)
(7,420)9(2,254)3,800(3,800)14,250(6,376)
(114)

2,400
(2,200)8,523(5,643)
(113)

(92)

―

(815)
(0)
6,850
122
2,922
11,483
14,405

(713)
―
2,252
49
5,988
14,405
20,394

LEC, Inc. (7874) Financial Results for the FY3/24(5) Notes to Financial Statements(Notes to going concern assumptions)None to be reported.
(Segment information, etc.)
The Group is mainly engaged in the planning, manufacture, and sale of Household products. Accordingly,
description of each segment is omitted because the Group has a single segment, the “Household products and ApparelBusiness.”(Per share information)
FY3/23(Apr. 1, 2022 – Mar. 31, 2023)

FY3/24(Apr. 1, 2023 – Mar. 31, 2024)

Net assets per share993.22 yen

1,019.74 yen

Basic earnings per share

27.24 yen

22.87 yen

Diluted earnings per share

26.98 yen

22.66 yen

Item

Note: The bases of calculation are as follows:(1) Net assets per share
Item

FY3/23(Mar. 31, 2023)

FY3/24(Mar. 31, 2024)

Total amount of net assets on the consolidatedbalance sheet (millions of yen)

36,27937,593

Net assets associated with common shares(millions of yen)

34,43235,559

Share acquisition rights

206

206

Non-controlling interests

1,640

1,828

Number of common shares issued(thousand shares)

38,16538,165

Number of common shares held as treasury
shares (thousand shares)

3,497

3,294

Number of common shares used in thecalculation of net assets per share(thousand shares)

34,66734,871Main breakdown of the difference(millions of yen)

(Note) The shares of the Company remaining in ESOP, which are recorded as treasury shares under shareholders’equity, are included in the number of treasury shares to be deducted from the total number of issued shares atthe end of the period for the purpose of calculating net assets per share.
The number of said treasury shares at the end of the period deducted for the purpose of calculating net assets
per share was 933,000 shares in the previous fiscal year and 920,000 shares in the fiscal year under review.

12LEC, Inc. (7874) Financial Results for the FY3/24(2) Basic earnings per share and diluted earnings per share
FY3/23(Apr. 1, 2022 – Mar. 31, 2023)

FY3/24(Apr. 1, 2023 – Mar. 31, 2024)

Profit attributable to owners of parent(millions of yen)

942

796

Amount not attributable to commonshareholders(millions of yen)――

Profit attributable to owners of parent relating
to common shares (millions of yen)

942

796

Average number of common shares during theperiod (thousand shares)

34,59034,791

Adjustment to profit attributable to owners ofparent (millions of yen)――

Increase in common shares(thousands of shares)

330

330

[Of which share acquisition rights (thousandsof shares)]

[330]

[330]

Overview of potential shares that were notincluded in the calculation of diluted earnings
per share because they have no dilutive effect

―

―

Item
1) Basic earnings per share2) Diluted earnings per share(Note) The shares of the Company remaining in ESOP, which are recorded as treasury shares under shareholders’equity, are included in the treasury shares to be deducted in the calculation of average number of shares
outstanding during the period for the purpose of calculating basic earnings per share and diluted earnings per
share.
The average number of said treasury shares during the period deducted for the purpose of calculating basic
earnings per share and diluted earnings per share was 936,000 shares in the previous fiscal year and 924,000
shares in the fiscal year under review.

(Significant subsequent events)
None to be reported.

4. Others
Changes in Officers
Please refer to the “Notice Regarding Changes of Representative Director and Officers” (in Japanese only)
announced today for changes in officers.

13