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 Non-Consolidated Financial Results
for the Six Months Ended January 31, 2024
(Based on Japanese GAAP)
March 13, 2024
Company name:Samco Inc.
Stock exchange listing: Tokyo
Stock code:
Representative:

6387
URL
President & COO

https://www.samco.co.jp

Inquiries:

Director, Executive Officer, Accounting andShozo MiyamotoAdministration

Tsukasa Kawabe

Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:

March 14, 2024–

Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results meeting:

Yes
Yes

TEL

075-621-7841(for institutional investors and analysts)(Amounts less than one million yen are rounded down)

1. Non-consolidated financial results for the six months ended January 31, 2024 (from August 1, 2023 to January 31, 2024)(1) Non-consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Net sales
Six months ended January 31, 2024
Six months ended January 31, 2023

Millions of yen
4,105
3,848

Operating profit% Millions of yen
6.7
1,012
32.2
964

Earnings per share

Profit% Millions of yen
8.3
747
78.9
700

%
6.7
83.5

Diluted earnings per share

Yen
93.03
87.21

Six months ended January 31, 2024
Six months ended January 31, 2023

Ordinary profit% Millions of yen
5.1
1,063
84.3
982

Yen––(2) Non-consolidated financial position
Total assets

Net assets

Millions of yen
15,178
14,795

As of January 31, 2024
As of July 31, 2023

Equity ratio

Millions of yen
11,538
11,144

Net assets per share
%
76.0
75.3

Yen
1,436.49
1,387.39

2. Cash dividends
Annual dividends per share

Year ended July 31, 2023
Year ending July 31, 2024

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
0.00
0.00

Yen–

Yen
45.00

Yen
45.00

–

45.00

45.00

Year ending July 31, 2024 (Forecast)Total

3. Forecast of non-consolidated financial results for the year ending July 31, 2024 (from August 1, 2023 to July 31, 2024)
Percentages indicate year-on-year changes
Net sales
Full year

Millions of yen
8,500

Operating profit% Millions of yen
8.5
1,990

Ordinary profit% Millions of yen
7.0
2,010

1Profit% Millions of yen
4.3
1,370

Earnings per share%
0.3

Yen
170.56

4. Notes(1) Application of special accounting methods for preparing quarterly non-consolidated financial statements: Yes(2) 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:

No
No

Restatement of prior period financial statements:

No(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of January 31, 2024

8,042,881 shares As of July 31, 2023

8,042,881 shares

10,405 shares As of July 31, 2023

10,405 shares

Number of treasury shares at the end of the period
As of January 31, 2024

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Six months ended January 31, 2024

8,032,476 shares Six months ended January 31, 2023

28,032,699 shares

Quarterly non-consolidated financial statements
Non-consolidated balance sheets(Thousands of yen)
As of July 31, 2023

As of January 31, 2024

AssetsCurrent assets
Cash and deposits
Notes receivable - trade

5,301,752
12,252

5,623,609–

Electronically recorded monetary claims - operating
Trade receivables and contract asset

182,574
2,489,827

108,4812,553,546

Finished goods
Work in process–
1,741,835

22,775
1,716,785

Raw materials and supplies
Prepaid expenses

428,537
9,815

477,456
11,180Other
Allowance for doubtful accounts

29,974(20,984)

24,572(17,503)

10,175,585

10,520,905

Total current assets3

(Thousands of yen)
As of July 31, 2023

As of January 31, 2024

Non-current assets
Property, plant and equipment
Buildings

1,113,037

1,116,135

Accumulated depreciation(824,645)(837,480)

Buildings, net

288,392

278,654

27,10027,100(25,093)(25,182)

2,007

1,917

Structures
Accumulated depreciation
Structures, net
Machinery and equipment
Accumulated depreciation
Machinery and equipment, net
VehiclesAccumulated depreciation
Vehicles, net

689,649

771,795(670,345)(679,177)

19,30392,61756,31457,565(52,778)(50,942)

3,536

6,623

Tools, furniture and fixtures

256,030

260,346

Accumulated depreciation(233,988)(239,128)

Tools, furniture and fixtures, net
Land
Leased assets
Accumulated depreciation
Leased assets, net
Construction in progress
Total property, plant and equipment

22,042

21,2173,453,567

3,453,567

50,790(50,790)

60,486(51,598)–

8,888

74,611

4,739

3,863,459

3,868,226

2,962
1,402

2,962
2,263

Intangible assets
Telephone subscription right
Software
Software in progress

–

5,000

Total intangible assets

4,364

10,225

300,794
25,207

316,341
25,207

5,000

5,000

Investments and other assets
Investment securities
Shares of subsidiaries and associates
Investments in capital
Long-term loans receivable from subsidiaries andassociates
Deferred tax assets

12,1507,702

129,893

126,138

Guarantee deposits
Insurance funds

78,378199,206

78,587219,347

991

917

Other
Total investments and other assets
Total non-current assets
Total assets

4751,621779,2434,619,445

4,657,695

14,795,031

15,178,600

(Thousands of yen)
As of July 31, 2023

As of January 31, 2024

Liabilities
Current liabilities
Accounts payable - trade861,405

822,161

Short-term borrowings
Current portion of long-term borrowings

700,000
39,996700,000
39,996

Lease liabilities
Accounts payable - other–
126,249

1,939
125,707

Accrued expenses
Income taxes payable43,846
411,448

39,289344,628

Contract liabilities
Deposits received

335,648
39,874452,128
24,712

Provision for bonuses
Provision for bonuses for directors (and other officers)

25,50030,00026,10033,020

Provision for product warranties
Other

18,00044,06917,80038,111

Total current liabilities

2,676,039

2,665,594

Non-current liabilities
Long-term borrowings

103,343

83,345

Lease liabilities
Provision for retirement benefits–
476,640

6,948
482,960

Provision for retirement benefits for directors (and otherofficers)

394,752

400,449

Other–

694

974,736

974,398

3,650,775

3,639,993

1,663,687

1,663,687

Legal capital surplus

2,079,487

2,079,487

Total capital surplus

2,079,487

2,079,487

59,50059,5004,367,000
2,837,418

4,367,000
3,223,228

7,263,918

7,649,728

Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus

Retained earnings
Legal retained earnings
Other retained earnings
General reserve
Retained earnings brought forward
Total retained earnings
Treasury shares
Total shareholders' equity(13,453)(13,453)

10,993,640

11,379,449

150,615

159,157

Valuation and translation adjustments
Valuation difference on available-for-sale securities
Total valuation and translation adjustments
Total net assets
Total liabilities and net assets

5

150,615

159,157

11,144,255

11,538,607

14,795,031

15,178,600

Non-consolidated statements of income (cumulative)(Thousands of yen)Six months ended

Six months ended

January 31, 2023

January 31, 2024

Net sales
Cost of sales

3,848,878
1,898,815

4,105,476
2,053,027

Gross profit

1,950,0622,052,448

Selling, general and administrative expenses

985,935

1,039,575

Operating profit

964,126

1,012,873

Interest income
Dividend income

167
21,228131
2,660

Foreign exchange gains
Rental income

–
5,836

37,296
5,548

Subsidy income
Miscellaneous income

1,886
3,311

1,813
5,694

Total non-operating income

32,43053,145Non-operating income

Non-operating expenses
Interest expenses

2,185

2,206

Foreign exchange losses
Loss on retirement of non-current assets

12,3590–0

Total non-operating expenses

14,545

2,206

Ordinary profit

982,0121,063,812

Profit before income taxes

982,012

1,063,812

Income taxes

281,403

316,541

Profit

700,609747,2706

Non-consolidated statements of cash flows(Thousands of yen)Six months ended

Six months ended

January 31, 2023

January 31, 2024

Cash flows from operating activities
Profit before income taxes

982,012

1,063,812

Depreciation
Interest and dividend income

28,205(21,395)

32,340(2,792)

Interest expenses
Foreign exchange losses (gains)

2,185
8,738

2,206(19,881)

Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses

150
1,600(3,481)
600

Increase (decrease) in provision for bonuses for directors (andother officers)(2,814)

3,020

Increase (decrease) in provision for product warranties
Increase (decrease) in provision for retirement benefits

2,900(1,875)

(200)
6,319

Increase (decrease) in provision for retirement benefits for
directors (and other officers)

4,875

5,697

Decrease (increase) in trade receivables and contract assets
Decrease (increase) in inventories(1,494,084)(412,126)

22,626(58,060)

Increase (decrease) in trade payables
Increase (decrease) in accrued consumption taxes

141,881(51,741)(39,244)(5,268)

Increase (decrease) in contract liabilities
Other, net(24,767)(243)

116,480(22,011)

Subtotal(836,499)

1,102,163

2,955(1,397)

2,797(1,274)

Interest and dividends received
Interest paid
Income taxes refund (paid)(233,269)(381,467)(1,068,210)

722,218

Payments into time deposits
Proceeds from withdrawal of time deposits(1,446,263)
1,440,537(1,451,386)
1,445,960

Purchase of property, plant and equipment
Purchase of intangible assets(42,497)–(17,332)(1,100)Purchase of investment securities
Proceeds from collection of loans receivable(3,193)8,836(3,249)5,010

Purchase of insurance funds
Other, net(20,140)(1,982)(20,140)(413)

Net cash provided by (used in) investing activities(64,703)(42,651)(19,998)(19,998)(381)(281,146)–(361,461)(1,983)(888)

Net cash provided by (used in) financing activities(303,509)(382,348)

Effect of exchange rate change on cash and cash equivalents(1,836)

9,868

Net increase (decrease) in cash and cash equivalents(1,438,260)

307,087

Cash and cash equivalents at beginning of period

3,919,589

3,374,374

Cash and cash equivalents at end of period

2,481,329

3,681,461

Net cash provided by (used in) operating activities
Cash flows from investing activities

Cash flows from financing activities
Repayments of long-term borrowings
Purchase of treasury shares
Dividends paid
Other, net7